In this episode of The Mailbox Money Show, host Bronson Hill and co-host Nate Hambrick sit down with Dwight Dunton, founder and CEO of Bonaventure, for a clear-eyed look at multifamily and senior housing investing.
They discuss why the current market—marked by high interest rates, oversupply in some multifamily submarkets, and the long-awaited “silver tsunami”—actually presents strong opportunities for disciplined investors. Dwight shares his long-term hold philosophy, fixed-rate debt strategy, how he aligns capital with investor goals, and practical tax tools most investors overlook (including 1031s, 721 exchanges, DSTs, and Opportunity Zones). The conversation also covers senior housing niches, the role of AI in operations, and how to evaluate deals when sentiment feels “yucky.”
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Dwight Dunton is the founder and CEO of Bonaventure, a vertically integrated multifamily investment, development, and property management company founded in 1999. With approximately $2.8 billion in assets under management, Bonaventure focuses on long-term holds across multifamily and senior housing (active adult, independent living, assisted living, and memory care). Dwight is known for his disciplined risk management, fixed-rate financing approach, and commitment to helping families build lasting wealth.
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Full Transcript:
Bronson Hill: Welcome to the Mailbox Money Show. I am your host, Bronson Hill. I’m super excited.
Today, we’ve got an amazing guest. We’ve got Dwight Dutton, who I’m going to talk about him in a minute, his background, who he is, and he’s in the multifamily space, as well as the senior housing space, has over 2 billion, 2.8 billion in multifamily real estate, which is incredible. And he’s got some awesome, unique things that he’s doing.
So, if you’re interested in cashflow, in real estate, in multifamily, maybe you’re an multifamily investor, you’re like, “Hey, when is this coming back, or what’s happening?” It’s going to be a great conversation around that. So, we’ll get started.
Before we do, I’m just going to introduce my amazing co-host. Nate Hambrick is here, the author of two best-selling books, including The 18 Laws of Leverage. Nate, good to have you in the house.
Have you invested in multifamily? I think you have with us over the years.
Nate Hambrick: A lot, yeah. My first multifamily deal, I believe I was 16, maybe 17 years old, and it went well, so I got hooked. So praise God it didn’t go under.
Otherwise, I might not be here today.
Bronson Hill: Yeah. It’s amazing how that deal we do when we were young. I remember I got involved trading stocks when I was young.
I don’t really do much stocks now, but when I was like 14 or 15, I think I got a gift of some money. And so I started investing, and I did well on it. It was like that really got me excited about investing. It’s like, oh man, you can invest, and then money goes up really quickly.
That’s amazing. So I may have made a few thousand dollars.
Dwight Dunton: Thank God your first investment wasn’t Beanie Babies.
Bronson Hill: Yeah, exactly. Well, you never know. Some of those Beanie Babies could be pretty valuable.
Awesome. So we got Dwight in the house. I’m going to give him a quick intro.
We’re going to jump in here.
Dwight Dunton is the founder and CEO of Bonaventure, a vertically integrated property management, multifamily investment, and development company founded in 1999. Like I said, he has $2.8 billion in assets under management, which is huge. So, congratulations on that.
And also, he’s doing stuff in the senior housing space. So, welcome, Dwight.
Good to have you, brother.
Dwight Dunton: Glad to be here. I’m excited to chat for the next half hour.
Bronson Hill: Yeah, let’s talk. So why don’t you walk us? You reminded me a little bit of Brian Burke, who basically did a bunch of multifamily stuff for 10,000 units and ended up selling a lot of it because things were getting kind of crazy.
This was a few years ago, and things were going a million dollars hard day one. There were 30 or 40 offers on properties. It was just kind of a crazy, crazy.
So he started selling stuff, and he moved into the senior housing space. But is that a recent move for you into senior housing, or has that been something you’ve been doing for a long time as well?
Dwight Dunton: Our second deal in 2002 was a senior apartment building. So we’ve been in it a very long period of time. And for the last 25 years, people have been talking about that coming silver tsunami.
And I think it’s finally upon us. It’s cresting. And so we are putting increased amount of capital and weight on our senior housing strategy, because probably for all the things we’ll talk about, multifamily, where there was oversupplied and demographics are sluggish on the demand side, and rent growth is slow, seniors are exactly the opposite.
And so it is no supply, booming growth of demographics, and rent growth and NOIs are following.
Bronson Hill: So and then I agree completely. I mean, everybody talks about the silver tsunami. It’s changed a lot. Multifamily.
Anybody who’s been a multifamily investor the last few years, there’s been some bumps. Or we expected there’s things you’re going to really do well or rates might come down.
Obviously, we experienced the quickest rise in rates, really in over 40 years. When we saw things go from basically a zero rate to like, several, three or 4%, just in a very short period of time at the Fed funds level, which really had a big impact.
How did that impact you guys do in your business?
Dwight Dunton: Thankfully, pretty nominally. And I don’t think it’s because we were particularly lucky. I think it was kind of in our ethos, which was we’re really in the business of managing risk.
And that doesn’t mean avoiding risk because you have to take risk in order to get return. So they’re correlated. But the way you lose money is by misunderstanding risk.
And so when you talk about like where interest rates are going, most people will tell you what happens to coincide with what’s good for their portfolio. They tell you what they hope happens. And the reality is none of us know.
So we decided 25 years ago, if at the time Alan Greenspan had no idea what way interest rates are going, we said we can’t either. And so we were fixed rate borrowers. In 2021 and 22, when rates were approximately zero, I said it’s probably a pretty good bet that they have way more upside in terms of going up than they do to fall further.
So we borrowed hundreds of millions of dollars at 2% and 3% fixed rate for, in some cases, 40 years. And so I could have been wrong, but that would have been okay because I would have had a 2% or 3% loan.
Nate Hambrick: Are you planning on flipping those a lot longer? Because I know a lot of people are in the game of flipping their money every two to five years.
Dwight Dunton: Yeah.
Nate Hambrick: We’ve got 2% interest for 40 years. Are you going to hold that until you die or what’s the plan?
Dwight Dunton: I hope my kids are paying it off and I’m there to watch them. That’s the plan. But I think that that’s also the companion to our fixed rate interest strategy, is we are long-term holders.
And there’s so many people who want to churn their portfolio and harvest gains. And sometimes that’s appropriate. You just knock the cover off the ball and the property is way out performing what you think is reasonable sustained performance. You should harvest that.
But for everyone else, if you harvest your gains, you have transactional friction, tax friction, and now you have to make another investment decision. And we found the more investment decisions you make, the increased probability for mistakes goes up.
And so if we hold assets longer, we have to make fewer investment decisions, which hopefully means we have fewer opportunities for mistakes.
Nate Hambrick: Which I love that strategy. I’m curious, are you raising a lot of capital from individual investors? And if so, how do you communicate that to them of like, hey, we’re not going to flip this in three to five years?
Like you’re in it for the long ride? Or do you give them a buyout opportunity? Or how do you do that?
Dwight Dunton: Yeah. Yes. Bonaventure was founded as the tool to help our family grow our wealth and build long-term wealth to afford our long-term goals.
And over the last 25 years, we’ve had hundreds of families join us. So our investor base is 99% human beings and families and people that have dreams and aspirations. And we want to be part of helping them to achieve those.
But what we found is the key thing is alignment. And so, I’ll answer your question, which is the investment thesis has got to be aligned with the capital structure.
It’s got to be aligned with the hold period, which has to be aligned with the vehicle, which has to be aligned with the goals.
And risk tolerance of the investors has to then be aligned with the way the sponsor gets paid, has got to be in line with all those.
And the straighter you can get all those dots, the better opportunity for great outcomes.
The more jagged those points become, the more friction there is, and the higher chance that something isn’t going to go well.
And so, we market ourselves to investors that are like, “Yeah, I’m looking for things that I can hold on to for five or 10 or 15 years.”
Versus, there’s a lot of other investors who are like, “You know what? I need my money back in three years, and I’m willing to take commensurately higher risks on those deals to get higher returns, knowing that I’m going to have to cycle again.”
And both those are okay. We just target the people that are aligned with our way.
Bronson Hill: Yeah, I know what your goals are. Yeah, and that’s, I think it’s interesting too. You know, Warren Buffett says, it reminds me of what he said.
The best holding period is forever, right? The best period to hold a company or hold anything is forever.
Obviously, there used to be a point, though, if you, let’s say, you bought this thing 10 years ago, and all of a sudden, your equity goes way up to where maybe your return on equity is not as high.
Are you guys just refinancing or repositioning or buying other assets with that? Or how are you holding and kind of managing some of those, like the equity that’s in there?
Dwight Dunton: Warren, smart guy. Our version of that is our hold period is a long time to forever.
But I think people measure their return against their initial equity, and that’s a historical cost basis evaluation.
We measure it against our opportunity cost to harvest that capital and redeploy versus keeping it and just continuing to hold the asset.
So, I think that that is one tool that I think a lot of people would benefit from: not what’s your return on what you paid, but rather, what’s your return prospectively if you kept holding it versus redeploying somewhere else?
But the answer is yes, we will sell assets when the opportunity cost returns are better somewhere else, or we can effectively sell a portion of it to the bank in the form of a refinance.
That’s kind of how we think about debt: you’re selling a portion of the property.
Bronson Hill: Is now a good time to get into multifamily, or is it something that you consider? Obviously, there’s a good and a bad time for, you know, you guys do a lot of multifamily, but is there ever times, hey, this is not a favorable time, or, I mean, how do you evaluate right now versus a few years ago versus five years ago?
Dwight Dunton: I would say that generally speaking, the best time to invest is when it feels worse and feels uncomfortable, and the worst time to invest is when it feels euphoric. And so we’re in a euphoria where people literally were lining up to give us money. Fortunately, we had discipline to not take it because we would have had to overpay for assets.
But right now it feels kind of yucky. Interest rates are stubbornly high. There’s a huge hangover from the building boom.
Some of these growth markets are having negative growth instead of the positive growth that was promised. And so I think it’s a much better time to buy now than when it felt like a party four years ago. But you got to realize real estate is a local phenomenon.
So for every sub-market where I’d say let’s go in, there’s other sub-markets I say not yet.
Bronson Hill: Nate, I was going to ask you a question on this because you’re the mindset leverage guy as well. How do you leverage? We all want to buy low and sell high, but in reality, we obviously do the opposite.
Typically, a lot of people will come in at the worst time when everybody else is overheated and will sell all the panic at the end. So from a leverage perspective, how do we leverage our mindset to be in the right perspective so we can make the right choice of when to invest when people are actually not saying, hey, this is not a popular thing to do?
Nate Hambrick: Well, I think looking behind the immediate responses and the immediate data that’s out there, I’ve been amazed at the last few weeks at how many of the top finance podcasts, like I’ll give an example. Caleb Hammer that runs the financial audit, he’s selling all of his real estate, right? If you’ve ever watched the show Ice Coffee Hour with Graham, he’s selling all of his real estate.
So some people that are pretty high up there on the podcast scene in real estate are selling everything. And so if you just take their advice for it, you sell all your real estate. But the reality is when you look a few steps closer or deeper, they’re not selling multifamily properties.
They’re selling single families and duplexes and all these smaller assets. A lot of them are selling assets in blue states. And so I think to answer your question, Bronson, you really have to look at why they’re selling and then ask yourself, all right, are there places I can invest that are outside of California?
Are there things that I can invest in that are bigger than two doors or four doors? Otherwise, you just throw the baby out with the bathwater and you miss the opportunity. So I love what you’re saying, Dwight, of your finding these opportunities and the way that you’re structuring your deals is very different to the way a lot of multifamily people are doing it.
So I wanted kind of to switch gears on you, Dwight. I wanted to ask you some questions about the different tax strategies. Obviously, your whole period is a long time until forever.
So I wanted to ask you, what are some of your tax strategies or things that you think about or do that most people might not be aware of?
Dwight Dunton: Yeah. Well, I think our philosophy is it’s not how much you make, it’s how much you keep. And the tax code is filled with amazing tools for real estate investors.
And so, we want to know all of them and be in a good position to pull them out of the toolbox at the appropriate time.
So, some of those are 1031 exchanges, a 721 exchange, which a bunch of your listeners might not have heard of, but it might be more commonly called an UPREIT transaction.
Where you trade the LLC that owns a piece of real estate for shares in a larger fund, like a REIT.
DSTs, which is just a tool for allowing someone to 1031 into a fractional interest in a piece of real estate.
We’re doing Opportunity Zones, which just got an amazing refresh in last year’s tax bill.
I think that’s going to be…
Nate Hambrick: So back up real quick. Do I explain it to me like I’m a six-year-old? Let’s start with the 1021s.
Let’s go to the DSTs here in a bit. Explain a 721 to me like I’m eight years old.
Dwight Dunton: Yep. So I will, but let’s start with the 1031 because they build on each other. So 1031 is like real estate for like real estate.
And so you say, great, I’m selling this house I’ve owned for 10 years and I want to buy a piece of your apartment complex. The IRS says, Dwight, says, Nate, that can’t work because you’re selling real estate and buying a partnership interest. So they’ve come up with this tool, which is a DST, which is a wrapper.
You can put a piece of real estate that lets you buy a fractional interest in that real estate and have it be real estate for real estate. So that solved your problem. But now let’s say you go, well, I don’t want to do a 1031 exchange.
What I’d like to do is go directly from owning this house to becoming a shareholder in a fund. That is a different exchange part of the tax code called a 721. And so what would happen there is we would take the LLC that owns your house and let’s say your equity was $100,000.
You would give that to the fund and they would turn around and give you $100,000 worth of shares. That is considered an exchange under that provision of the tax code where you don’t recognize any gains. There’s no tax trigger and you went from having $100,000 of real estate in the form of an apartment bill or a single family home to having $100,000 worth of shares in the fund.
Nate Hambrick: So let me make sure that I’m getting this right. So for a lot of folks in the Boomer generation, they bought a house a long time ago.
They’ve got $2 million worth of equity in their home because it’s appreciated so much. As of right now, and obviously we’re hoping the government will change this. When they sell that home, they still have to pay capital gains on that because it’s over the $500,000 threshold.
So if I’m understanding you, what they could do is take their primary residence, put that into an LLC, do the DST, and then basically put that into some sort of fund. Did I understand that right?
Dwight Dunton: Yes, with the provision that you can’t do a 1031 exchange with your primary residence because it’s not held for investment purposes. That’s one of the conditions of doing a 1031 exchange is it’s held for investment purposes.
Nate Hambrick: If you rented your primary residence out for two years and then…
Dwight Dunton: Absolutely. Then it becomes an investment. And so again, that’s the beautiful thing about the tax code is there’s a lot of gray. If you follow the rules that say you can’t do this, well, by inverse, you can do that.
And so that is a tool that a lot of people use is turning their primary residence into an investment property by renting it.
Bronson Hill: I got a question for you on this because I think that there’s a lot here that we have people that are listening to this that are operators. A lot of people are investors. There’s kind of a variety of people.
So let’s just say I had a deal that I’m running and I wanted to turn that into an opportunity zone fund. So it’s got to be obviously in an opportunity zone, which are certain areas that are designated by the government in certain states and things like that. But how hard is it to set up an opportunity zone fund?
Dwight Dunton: Technically, it’s super easy. It’s a self-certification. All you do is set up a partnership and you staple one additional piece of paper to that partnership return that says this is an opportunity zone fund.
So it’s super easy. But making sure you comply with the myriad of rules becomes a little more complex in terms of just the record keeping.
Bronson Hill: Does this Chat and Claude can kind of help with some of that, the complexity to make it a little simpler just to understand it?
Dwight Dunton: Yeah, I mean, absolutely. I think the Byzantine tax code is written for lawyers, but certainly AI can simplify it. We actually created a internal chatbot for 1031 exchanges to help our associates who are not attorneys to be able to ask complex questions and get simple, real-world English answers.
Bronson Hill: Yeah, okay, I gotcha. That’s great. Well, so I think it’s really great.
I think this is a really good point here for people. A lot of times people, I’ve had over 2500 one-on-one calls with Hinaworth investors and a lot of people are like, I asked them, do you want cash flow?
Do you need tax benefits? Appreciation? They’re like, yes, I want all of it. And it’s like, okay, well, you don’t really know what you want, right?
So it’s like getting really clear. And so I think for a lot of people, most people need, especially high earners, they typically need some tax help on tax gains. And whether that’s active tax gains like oil and gas or other things you can kind of work against over new income.
Or it’s just on the money that you’re making and then really having that preservation over time or there’s these unique things to do. So once you figure out what problem you’re trying to solve, you can find an investment that really works well for that. I was going to ask you a little bit more.
You’ve been doing this a long time. Obviously, you’re still a young guy. But I have a note here.
It says that you were 25 years old. You brought a struggling 378 unit apartment community. What gave you the confidence to take that?
I think about when I was 25 and the thought of like managing myself and making sure I get the right food. I’m a responsible guy, but that’s a lot to take on. Was that you by yourself or what gave you the confidence to do that?
Dwight Dunton: I think no one told me no, which was shocking in retrospect that no one said don’t do this. You’re 25 and you have no experience. And two, I was pretty self-confident.
Probably some would say overly confident. And so I just assumed that it wasn’t rocket science. So therefore, I would figure it out.
And there was literally a thousand problems that happened along the way and was able to overcome that. But honestly, a lot of it was good fortune and luck. I think that, you know, what people often say is opportunity knocks.
And I think that is only half. The other half is you have to be willing and able to open the door when it knocks. And so that was the decision I made was I heard the opportunity to knock and I grabbed the doorknob.
I think that that holds a lot of people back. And then I immediately assumed that I didn’t know everything and I went to find as many people that could help me on this journey. That’s basically been the last 27 years of my life is assuming I’m wrong.
I don’t know everything and build an amazing cadre of people. There’s about 500 people across our various businesses all dedicated to helping achieve business outcomes for our investors. And they’re all experts at what they do.
Bronson Hill: I love that. Yeah, I think I think it’s so true. You know, the idea of sometimes we don’t know what we’re getting into and so you just kind of take the plunge and you go for it.
But you know, if you’re willing to do the work, if you’re willing to figure out the things that other people are willing to figure out, there’s a big advantage there. How is that applied? When you talk about what you’ve done in senior housing, are you guys just building these and selling them?
Are you operating them as well? Is this like assisted living? Is this fully independent living?
Tell us a little bit more about the senior housing.
Dwight Dunton: Yeah, it’s all of the above. We’ve bought them. We’ve built them.
We have active adult, have independent living. And we have assisted living in memory care.
I think our investment strategy is continuing to skew towards independent light, which is provides a lot of service, but is not in most states a registered regulated program where you have to have like medical supervision. And that really is getting at this cost issue, which is labor has gone through the roof. Food has gone through the roof.
And so how do we provide cost containment for our residents and still provide them with amazing services? And so we found a niche there.
Bronson Hill: Yeah, I love that. So you’ve basically found a way to make it work. And do you think that, where do you see this?
I mean, this might be a little longer range. There’s, you know, according to some of these AI innovators, right, we’re going to be having robots everywhere in the next three to five years. They’re going to be doing, you know, back flips in our front yard and taking care of old people and fixing toilets.
And I mean, like, do you think that’s just totally overdone? Or do you think that there will be some monitoring of, let’s say, seniors that are in homes, just to kind of be another person that’s their presence, so that if someone is in trouble, you know, there’s a way that they can help or have a companion there.
Dwight Dunton: Yeah, say, absolutely in the future. The question is when, and I think historically, technology, people have overestimated how quickly it’s going to happen and underestimated the impact.
So, I don’t think there’ll be robots in three years, but there absolutely will be robots doing backflips in our lifetime.
And so, when I look at AI and the impact to our business, it’s been immense, and we’re just scratching the surface.
What I see right now is it’s not having me have less people here. What it’s doing is making everybody a 10x version of themselves. And so I think that that’s probably going to be what, you know, physical AI sensors are going to do is help enable all the people serving our residents to provide better service, higher quality, to have more knowledge as to what’s occurring inside that building.
And when that residence needs particular support, it’s not going to replace them.
Bronson Hill: Yeah, I love that. Nate, why don’t you chime in here as well? Because I know we talk about leverage and use AI a lot in what you’re doing.
And I just think it’s so interesting when you look at trends of both housing as well as seniors. What are some of your thoughts in relation to this going forward?
Nate Hambrick: Well, yeah, I think so many people are raving about AI, but there’s very little practical implementation. It’s really frustrating. You go on YouTube and everybody’s like, AI is the future.
And they’re right. But then you look at, like, the actual practical takeaways of, like, all right, with agentic AI, what can we actually build to outsource?
Having said that, though, if you can find one or two areas that you can completely outsource to AI.
I mean, we’ve talked about this before, Bronson, but with my lending business, I got rid of all the VAs, all the assistants, all of that, because now bots can do all of it.
And they’re so much quicker, and they work 24/7, and their margin of error is substantially less than human. And so, I’ve only found one real area.
Well, that’s the main area, graphic design, website building, that kind of stuff. So, I guess two main areas, but just those two main areas have radically reduced my costs and made me efficient.
And so, I think we don’t have to solve every problem with AI. But if we can find one or two really, really big problems in our business that we can completely outsource to a bot, it’s amazing how much more effective we can be.
So, with the robots doing backflips, I’m excited for a robot to be able to cook all my meals. I’m ready to get rid of cleaning.
I’m forgetting. Yeah, of course. I’m ready for robots.
Bronson Hill: The reason I say about the backflips is like you see these Chinese robots that say some of these are pretty advanced. They’re actually ahead of us. And some of them, you see they’re doing backflips with the different acrobats on stage.
It’s kind of wild, some of these things they can do or some of the military aspects. Go ahead, Dwight.
Dwight Dunton: Yeah, I mean, you can get a Roomba today, and DoorDash will bring your meals. So, you can already do the cleaning and the meals.
But I think that, you know, AI is—the disruption has already happened, and people are waking up in their own time to realizing the disruption has happened.
And they’re either going to be disrupted, or they’re going to be a disrupter. At Bonaventure, I said we must be the disrupter because I’m confident somebody building a new Bonaventure without all the legacy baggage that an existing business has.
And I want that to be us versus somebody else who supplants us. And so, what we’ve done here is made a commitment and to build the tools to make it easy for people to get access to the data in the context of the organization, so that they can build the tools to make their jobs easier.
In fact, we’re about to spin off some of the technology we developed because it was so profound in terms of gathering context. And we’re spinning that off into a separate company because everyone we’ve shared it with, it’s blown their mind.
And I’m happy to follow up with you guys afterwards and share it with you. But it is wild to be able to ask your AI agent to build the Excel spreadsheet based on the phone call you were just on, and you don’t have to tell it anything else.
Bronson Hill: That’s incredible. It really is. Actually, I mean, just all these little things now, it’s like you hear about new stuff all the time.
Like I have a coach I’m involved with and just spend a time with him. He had this little thing and his team have these little orders on there. It’s like these little things you can wear throughout your day, which it would record everything.
And then it just gives you insights on your day. So you’ve just had this like a thing and then it came. There’s this summary at the end of things you need to do.
Here’s the next steps. Here’s all the things that just kind of like and it’s all pretty much put together for you at the end of the day. So it’s kind of neat how that stuff exists.
So, I think that it’s interesting. A lot of the view, I think this is relevant, that a lot of the view in the past, like Dario, who runs Anthropic, said, he said a year ago, he said, in one to five years, we’re going to have something like 40 or 50 percent or higher unemployment for new grads.
But that’s kind of really been disproven. And it’s kind of been the myth of technology that, like, oh, we’re going to be, you know, the ’70s, like, oh, computers are going to be working 15 hours a week.
And just because we want to whatever, and it just, it’s never really transpired. They can’t find enough good workers. Now, a lot of these companies now have said, we need to hire as much as we can.
So, it’s kind of like AI is helpful to empower employees, but technology always needs people to support it. So, it’s interesting to see, you know, how long that will go for, if that’s the case.
But I think there’s a lot, I think a lot there we could definitely talk about. So, I know just as we’re kind of getting to the end here of our, of our time, I guess one thing I want to just touch base on is, if you’re an investor who’s looking at all this, who’s looking at investors, looking at AI, you’re looking at, you know, some of the changes in the market, and obviously, like, you’ve got money to invest.
You know, is it obviously your business is housing, right? It’s putting money into housing for seniors, housing for multifamily. Do you think that that changes over the next 5–10 years?
Or do you think this is like, is this the best time, or is this just like another time to invest right now?
I feel like this is kind of like the best time to invest.
Dwight Dunton: I think there’s always a great investment opportunity. Sometimes there’s more than others. But today, I’m seeing great investment opportunities.
It’s not the same back the truck up moment as it was in 2011. But there are tremendous deals. We actually, our pipeline of acquisitions is bigger than it’s been in the last decade and the deals are better.
But it’s still not the back the truck up. You can buy anything under the sun and make money that we had at the end of the last GFC wipeout. But there’s tremendous opportunities and I expect there’ll be tremendous opportunities a year from now.
You just have to be really intentional about what you’re investing in and how you structure the deal.
Bronson Hill: Yeah, I love that. Well, Dwight, I really appreciate you coming on the show today. I think you’ve added a lot of value just with your perspective and also the years of experience and just really the things that you’re creating for your investors and for your communities that you’ve developed.
So I appreciate you and honor you for that and for all the kind of the, you have just a very no-nonsense way of sharing, which is really understandable for a lot of people and making the complex things simple. So I appreciate that. How can people follow you and hear about your stuff and what you’re working on and if they want to connect?
Dwight Dunton: Yeah.
Bronson Hill: That’s a good way to connect.
Dwight Dunton: Yeah, super easy. One, go to bonaventure.com. Ton of resources.
You can connect with us there. Two, connect with us on LinkedIn, either our company or me personally, Dwight Dunton. And we are continuously publishing thought pieces and thoughtful insights and so on.
A lot going on here at Bonaventure and I love helping investors build wealth. That’s my favorite thing in the world. So I’d love to help some of your listeners.
Bronson Hill: Love that. That’s awesome. I appreciate you.
Let’s sit tight for just one second while we kind of wrap up the episode here. So Nate really enjoyed this episode. I thought it was great.
Thought you get really experienced folks that have been doing this for a very long time and they really bring a perspective to the opportunities that are there.
And I felt for a while that I think it is a great time to invest, especially in senior housing, but also multifamily because it’s not as popular as it was. We’re seeing pricing for some of the stuff down where it was in 2019, 2016 for certain things.
So what were some of your takeaways from from this episode?
Nate Hambrick: I had a few, but the biggest takeaway was the DST wrapper. That’s life changing for me. I actually my primary residence has gone up quite a bit.
I have it at 2.89% interest and I want to keep this thing forever. Actually, the Dallas Stock Exchange just opened less than two miles from my house. So I want to keep this forever and I knew that there were ways to avoid the tax burden in 30 years, but just having Dwight explain it in simple terms.
I mean, there’s so many applications I can use that for. How about you?
Bronson Hill: Yeah, I love it. Yeah, I think for me, I was just I love some also I always love the AI conversations around what’s coming and how to really make the most of the opportunities that are there. I think one thing that I’ve really admired about Dwight and similar operators is just we’ve been doing the same thing, kind of the hedgehog principle, right?
Just doing the same thing many years, really nothing super sexy or flashy, but just getting the right time horizon.
And I think a lot of investors want to have a short horizon because it’s like, well, you know, if I can’t get my money back in five years, like, what’s going to happen?
But really, the folks that I see do well for a very long period of time typically have a longer time horizon, and a lot of family offices and larger groups are not as concerned about the next quarter, or the next year, or the next few years.
It’s like, what’s it going to look like down the road, and really being that kind of holding forever? So, I love that.
So, anyway, for those that joining us, really, again, appreciate you for joining us today.
And this is how you get better. This is how you take small steps to get to step into that brighter future that you’ve created as you do little things like this, and they add up.
There’s this book out called The Slight Edge by Jeff Olson, and talks about, you know, if you have a positive habit, it won’t change your life today, or tomorrow, or in a year, but over time, it has this compounding effect.
So, that’s what you’re doing and creating that compounding effect of good habits in your own life.
So, if you haven’t joined our investment club, you can check out the link below, or go to bronstonequity.com. You can join our upcoming investments to get some exciting stuff coming up.
I’m excited to share what I’m able to share. So, if you’re on that list, you will hear about those deals.
And I just want to say to everyone, thank you for taking the time to educate yourself, and we’ll look forward to seeing you on the next episode of the Mailbox Money Show.
Thanks, everyone.
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