Rigs to Riches EP05: Daniel Morales - "You're Broke Because of THIS" - Hard Truths About Money

Whether you’re looking for your first deal or trying to buy back your time, we’ve got you covered. This is Rigs to Riches, where we talk freedom, family, and flipping the script on your finances. All right, welcome to Rigs to Riches. I’m excited to share a special guest with you guys today. He actually was just at our Revive Summit a couple weeks ago. Came in, crushed it, like tremendous feedback, tremendous value. Guys, I had talked to Daniel a couple times before and learned about what they were doing, but like when he came to the summit, there was like a bunch of things that I learned. I’m like, “Oh my gosh, there’s so many things more things to unpack. ” So, I’m excited to dive into it today with Raise to Riches. But you guys are going to love Daniel’s story, which we’re going to get into. And then I’m going to let Daniel share a little bit more of like the tools and tricks that he’s found and used to build wealth. Because guys, again, the theme of this podcast is to help you guys build your own wealth, right? go from rigs to riches. Daniel’s going to give you guys some tools today. Some tools that even I don’t know of yet that we’re going to unveil and I’m gonna I’m gonna learn them today from Daniel. So, with that, Daniel, well, go ahead, introduce yourself. So, you’re in Las Vegas right now, but I want to hear like bring us all the way back to the the beginning. >> The beginning, the beginning. Well, first of all, Casey, thank you so much for having me on. We really appreciate it. Opium Masteries, proud to to be able to go out, help you guys, and you know, bring some education and bring anything that we can honestly to help, you know, your guys get to the next level. So, we really do appreciate that. So going back, man, I obviously was not born in Las Vegas as you know, lots of people are. Not really, right? It’s very, very weird city to be in uh growing up. So I was born in Monterey, California, so upper California, you know, and my parents were out there. We had some family businesses and everything, but honestly, the market there, just, you know, trying to break into it if you’re not already a billionaire, it’s kind of hard, right? Talking Pebble Beach, you’re talking Carmel Valley, right? There’s a there’s a lot of wealth there, but it is very definitely hard to get started there. So, they moved me here to Vegas when I was about seven. So, I I still say I grew up in Vegas, you know, because those are what I really remember. And this city was is very different. And I think I I can attribute a lot of my growth and my perspective on money and finance and just kind of like what’s possible in the world in growing up in the city. So, when I I think about Vegas, I don’t necessarily think about the casinos and like the stuff people think about, right, when they think Vegas. What I think about is just kind of understanding this is a city of of hustlers, movers, shakers, right? A lot of people just working really really hard to go make something of themselves. But because you’re you are around a lot of of fast money, you kind of get a different perspective, right? So originally my plan was, you know, hey, go to school, get my business degree, double major, do all those things, but at the same time I was like doing anything I could to to get ahead, you know, working summer jobs, did a lot of sports, did martial arts, I love that, but I wanted to to grow up. I wanted to go make money. wanted to do those things, right? I went from working like $8 hour hour jobs at pizza places to working at kiosk. You know, the really annoying people at the mall that you kind of avoid that you walk past, they try to sell you stuff. Yeah, I was one of those guys. I was one of those guys. That was my first introduction to sales, right? And they pay commission, which is nice, right? So, that’s where I was learning. Oh, commission is a is a good place to be. You can make some money. >> Daniel, I could totally see you working that job, man. >> Yeah, it was Yeah. 16, you know, I was like doing whatever I can. But honestly, I didn’t really love that industry. I didn’t like how it’s it’s very salesy. It’s very, you know, you’re there all day just trying to get someone to buy that. They don’t actually need any of these things, right? There’s there’s stuff you don’t need. Uh so I got over it pretty fast. At the beginning, obviously, I was young. I was excitable. And after I realized like, yeah, this isn’t I don’t think this is somewhere I want to stay. I was still going to school. I was 17, turning 18. I was getting, you know, tired of the industry. And I was working at Caesar’s Palace in the forum shops. It’s familiar to casino, you know, where where Caesar lived. >> Uh, and the forum shops has a lot of wealth. They have, you know, Gucci, Louis Vuitton, Hublo, Rolex. They had all these other stores. By the way, I didn’t even know there was a a high-end watch store at the time in the mall. I was just, you know, working at my little kiosk selling phone accessories. And I remember I saw this gentleman just always walking by super happy. Just the guy was just happy all the time. You know, I said, “I just want to be happy. ” I didn’t know what he did. I just know he wore a suit and he was happy, right? So one day I just stopped and I said, “Hey, you know, like why are you so happy? ” He’s like, “Well, first of all, life’s great. God’s great, right? ” And he was just going on that. He’s like, “But I have a good job, too. ” You know? I was like, “Okay, cool. ” And so what do you do? He said, “I worked at Torno, which is at the time the one in the form shop was the world’s largest watch store. 17,000 square feet of watches, right? ” and he was something you would call a technician, which just means you just kind of clean watches, change batteries, set time for the people that have money, and come in and buy Rolexes and all that expensive stuff, right? So, I said, you know, that sounds like a great job. I should totally get a job there, right? And long story short, I went I kind of applied. It was a couple months of follow-ups. I pretty much annoyed the service manager into hiring me because I kept calling every two days to check the status of the hiring process. You know, I was persistent. I didn’t have anything else, but I was persistent, right? So, I got the job. I was excited. I was getting paid $12 an hour full-time. I, you know, I thought that like this is great. I get a little bit of commission by cleaning watches. I actually get to wear dress clothes all day and I can just study for school. There was not a lot of work to be done. So, all that meant is I get to study for school all day. They’re actually going to help me pay for school and I don’t have to really work super hard anymore. This is a good basis for me. You know, I was thinking I can build a career off this. I’ll go get a degree, do everything I needed to do, right? Three months later, I was bored. Was very, very bored. And I was like, “Yeah, you know, I don’t I want to go do something else. ” So sales positions opened up. I, you know, decided I should like try it out, right? Maybe I can make some more money. And I saw the the these sales guys, they’re selling Rolex, PC, Vashron, Long and Sun, Ja Loot, words I couldn’t pronounce before, right? Uh AP, all these 20,000, 50,000, 100,000, $200,000 watches. And so I was now seeing like, okay, money is everywhere. It’s not as scarce as I thought it was, right? because I would start seeing it every day and you know I see employees making good money. I said okay well maybe I can you know use this maybe I can come out of college without debt right because I knew some sales people made six figures. So I said maybe I can use this and still do well and still go to school and so I went and got a sales job did really good three months and then uh uh Rolex ambassador is what they call them where the only brand that they have to sell is Rolex. So what does that mean? Casey walks in and case he wants to buy a Rolex. I’m the first person he talks to. I sell him a Rolex right then and there. But let’s say Casey walks in and he wants to buy a G-Shock for his son instead. I can go ahead and send him 50 feet backwards and someone else can sell them a $100 watch, right? So, you’re making commission, right? So, you can you can kind of dictate what your money is going to look like because you can decide who you want to work with. Whereas a person in the back, they don’t really have a choice. They’re they can only work with whoever ends up back there. And uh first year I made six figures and that’s kind of when I restarted thinking everything, right? So, I went from making I was going to make $30,000 that year to making over a h 100,000 with still no degree. I only spoke six two languages. They wanted you to speak four to six languages with a business degree or a master’s degree or some type of background in high-end sales because you’re speaking with people with money, right? So, perspective started changing. And to be honest with you, I hated accounting. It’s fantastic and you need to do it. You need to hire someone to do it for you. But I just I couldn’t do it, right? I I just I did not want to do it anymore. I love math. I love numbers. But not by putting it in little boxes like that. It wasn’t fun, right? It wasn’t fun until we entered a different era and different market. I was there for three years. I did really well. I sold almost $17 million in watches. Uh I thought that was where I wanted to be. But 60, 70, 80 hours, you know, working crazy. It was a European company, so no overtime pay. 40 hours you clock out. And if you want to stay and sell, you just you stay on the floor and any overflow people that are there, that’s who you get to sell to. So I I turned a W2 income into something that I could kind of grind out and have a very high level income in. Right? So I was I was able to do very well. I got to have the cars I wanted, the watches, you know, I had had the M3s, I had a 4 series, I had Rolexes, I had the luxury apartment. I was 20 years old turning into 21, right? I was in Las Vegas, so I had I I thought I was like doing fantastic, right? I said, “I’m ahead of the game. This is good. I can go go figure. ” I still had no idea what I was going to do yet, right? And I think the the biggest lesson I got to learn from that watch industry was that I got to explore different career options, right? I met everyday people with so many different types of jobs, right? Whether it was HVAC or even in the oil industry, I did meet a couple people that were there. people that own franchises, they were advisers, they were this, they were. So, I got to kind of explore. I because I I hung out with my clients, you know. I It was literally I got paid to hang out with people and then at the end we would do some type of transaction. I met Shawn White. I talked to him for like an hour and a half before knowing that it was Shawn White because he had just cut his hair, right? I still sold him like 40 $60,000 worth of watches. And I just had a great time, right? So, I got to talk to people and I said, you know, I don’t have the skill level to be an Olympian, so I need to look at my my other options, right? And so at the end of the day, I realized I needed to do get into some type of business. And since I didn’t have a clear route, what I decided is that, hey, I’m going to go learn finance. And I don’t think I’m going to stay in school for it. I’m going to go get a license. I’m going to go get an insurance license. I’m going to go learn retirement planning. Because if I can understand money, if I can understand how it works in the marketplace, if I understand how wealthy people have been moving it, using it to live off of, doing all these things, then maybe I can figure out how to do it for myself, right, as I’m making more money. So, I got had a little bit of an ego check, right, with my regular job. I I was tired of working so many hours. I thought I was, you know, the end all be all. I didn’t think I thought I was too valuable to get rid of, right? And Casey, the one thing we learned in the W2 world, right, is that’s not true, right? You’re always replaceable. And that’s I I learned my lesson, right? I fought back with some things that I didn’t like with the way things were being ran, necessarily the company. Company was great. And I was given two choices. I was given keep acting this way and you’re going to get demoted, right? and alternative was just, you know, do what they wanted me to do. So, my brilliant choice as a turning 21-year-old in Las Vegas, right, that was making good money, decided that this is the time for me to quit my job with no plan in place and no savings, right? My my savings was my watch collection. That was that was about it. So, I got into the insurance financial services industry right after that. First year was rough to say the least. So >> what year was this? >> This was so 21. So this is six and a half years ago. >> 2021. >> Okay. >> Yeah. >> Wow. Or you were 21. >> Six and a half years ago. So I was I was 21, not 2021. So that would have been like 2019, 2018, somewhere around there. >> Yeah. [snorts] >> So before COVID, right, before that. >> And so I got into financial services. I I was in so much debt. So much debt. Right. because I kept living like I was making the money that I was from my W2 and I wasn’t. So that ended very quickly. I would say it lasted another six months or so. Credit cards got maxed out, cars got repossessed. It was all downhill, right? And that first year in the financial industry, I made about $30,000. So you it’s basically saying like I went from making close to 300,000. I had a a drop shipping business at the same time. Just kind of a side business. I wasn’t really focused on it, but it did well. So I went from making 300,000 a year to 30,000. So couldn’t pay my bills, lost everything. And that’s kind of when I had to re-evaluate things, right? And say, okay, I have to put myself in check. I have to put my ego aside and I have to go into learning mode. Then second year picked back up. Uh going into third year, which was COVID, right? So 2018, 2019, going into 2020 before everything got closed down, I was doing well in the insurance industry. And I decided, you know, this is the perfect time to open a 7,000 foot office so all my agents can come in person and train and be here. And I had like 60 65 licensed agents at the time doing business, right? Which sounds like a fantastic thing to be, right? And then what happened? COVID hit and we had just taken on this lease that we couldn’t really afford yet. Like we were making the money, but it was obviously cutting into our lifestyle, me and my partner. And it was a big wakeup call and I we had to buckle down, make it happen. Thankfully, everything turned out okay. We we were able to do Zoom business, do fairly well, and everything. But I started to see within servicing clients and retirement planning and doing all these other things, I realized that the number one reason that people couldn’t put money away was not because they weren’t disciplined, was not because they didn’t want to save, was not because they didn’t want to have a future. It’s because they couldn’t. And mostly due to credit, right? Having bad credit was a majority factor because car payments were more expensive than they needed to be. Car insurance was more expensive than they needed to be. Everything in life is just more expensive when you don’t have good credit. And so that’s when I sought to to reach to find a partner to help with that. Right? So originally Felix with OPM Mastery and everything, I went to them. I said, “Hey, I need a solution for for my clients. I just want to help my clients. ” So I wasn’t even trying to get into the credit space. I just wanted to provide a solution for my clients because I said, “Hey, if we can get them in a good position again, I can find the money, right? My job as as helping with retirement planning was find the money in their bills and expenses on all these things. ” Said, “Okay, so if we can get you from a 500 credit score to 720, we can refinance your car. your car payment goes from 750 to 500 or $450. Your car insurance drops $100 a month. Everything is just less expensive. And now we’ve opened up $4 to $500 a month, right? And traditional retirement planning, that’s enough to do something, right? That’s enough to do something. But the more and more I was in the industry, I just realized that I didn’t really love traditional retirement planning anymore because I didn’t believe that the way it was structured and the way we were taught to do it really works anymore in in the country we live in. Right? And it’s not anyone directly’s fault. It’s just the systems that were built to work don’t make sense for the amount of people that we have and what it costs to live today. The three pillars of traditional retirement planning were a a 401k or IRA, right? Which is fine. You get it through a job. You had a pension plan, right? And then you have social security, but the reality is Casey, we’re not going to see social security by the time we get to retirement. It’s it’s just not really going to be there, right? And every every other year they’re running out of money, right? like you’ll go to you go to the social security website, it’ll tell you, hey, we’re going to run out of money by 2030 and then next year updates and it says we’re going to run out of money by 2035 and then we’re going to run out of money by 2040, right? So they’re they’re still spiraling to figure out where the money is coming from. Why? Well, because we weren’t made to live this long. On average lifespans when social security was created, we were passing away between 55 and 65. So we, you know what I mean? Like there wasn’t a long time of money that needed to be paid. Well, life expectancy changed. were getting 80, 90 years old. Now it’s get drawn out more. There’s not enough money for everybody. Same thing with pension plans. A, they don’t really exist anymore. You’re in in the oil industry is probably one of the few places you still see them. I don’t know if you see you still see pensions and stuff, right? >> Yeah, we did, which was a rare thing for sure. >> Which is a rare thing, but even then they’re not guaranteed. The the Cal State Purse, California Purse for Department of Education had a pension that failed, right? And then the government steps in. There’s there’s resources and protections, but a pension is already only meant to pay 40% of what you used to make. When the government steps in to save a failed fund, they only pay 40% of whatever you were supposed to have there. So, it’s not enough money either. And again, why? Because pensions were created when we didn’t live long enough. So, that’s why more and more companies don’t do it anymore. So, that doesn’t work anymore. And then in a 401k and IRA are great products and and they can work, right, if you have the capital to put away, if you started long enough. But even then, the average person in a retirement account right now doesn’t have more than $400,000. That’s the average fund in in a 401k or IRA. About $400,000, right? If you have a million, an adviser is going to tell you you’re going to live off about $40 to $50,000 a year in a really good rate after taxes, right? After taxes. Most people don’t have a million. So, and most people can’t live off, if you’re in California, you can’t live off 40,000, right? It’s impossible. So all these things together were just kind of making my mind go and go and think like, hey, I have to do something different. Even if I’m in this industry, a I don’t think this is the best solution for everybody. It works for some people, but I don’t think it’s for everybody. But also, I don’t want to be put in this situation, right? And so what do I start doing? And I making money doing all these things. I said, you know what? Now I have to pay taxes. And I thought I knew everything. I thought I knew all the tax loopholes. I’m like, we have strategies. We have deferred accounts. We have pay tax now, pay later. We have insurance products. We have all these things. But I was looking at the numbers. I’m like, I still have to give Uncle Sam a lot of money and I this doesn’t make sense, right? So, what am I supposed to do? And that’s when real estate came into the picture originally, right? I said, okay, I got to get some real estate. I got to do something with this, right? Then you learn about cost aggregation studies and all these other things. And then for for me personally, I went the short-term rental route. I said, I I want to be able to make some cash on this so I can kind of accelerate the growth of this. And, you know, we were able to figure out how to not pay some taxes legally, right? IRS tax code is mostly about not paying taxes the right way. Fund the economy and then don’t pay taxes. That’s what you do. That kind of started there. And then I said, “Okay, well, I want to do this again, but now my capital’s tied up. I’m making money, but I still don’t have enough to keep buying properties the way I want to buy them >> and accessing more capital through Opa Mastery, through credit, and kind of seeing what other clients were already doing, right? Because we knew people were coming to us to get money, but they were doing it for fix and flips and all these other things. ” And I just didn’t understand those things yet. And that’s kind of where things just started taking off. I think as a whole, the market in the US started to realize that no one was going to come save them anymore. They knew no one was going to be able to rescue them anymore. They knew it this is like if we don’t save ourselves, no one’s coming to get us. And that’s that’s the truth, right? That’s the truth. Our market exploded. I we saw a lot of people coming in, starting businesses, doing their own thing, and not having to rely on anyone else anymore, right? And I thought about the same thing. I said, “Okay, I I have to build something. ” At the end of the day, the more you build, more stable you are. Even when you lose, right? You have an ability to recover, you have resources to pull from, and you learn a lot through the process. But yeah, that’s the long- winded story of how, you know, working at a kiosk, I ended up buying real estate and getting into, you know, credit, working with partners like like Felix and OPM. And and first of all, that guy’s just a genius, right? The his systems that he set up in place and just understanding the credit system to a whole another level. This guy’s always thinking four to six years ahead, you know? So now there’s a lot of people entering the funding space which is fine. I I believe there’s more than enough for everybody, right? Especially in a commerce space being in a country like America, you have the opportunity to buy, try and fail and try again, right? You you can always you can always do it again and there’s more than enough for everybody. So I absolutely just I believe in in that open market of capitalism when it comes to that. But we already knew this was happening and this is you know we already have the next phase in place. We are we’re already thinking ahead. We’re prepared. So, it’s, you know, it’s it’s a good place to be. And it’s cool to see just a lot of people waking up. I would I would call it waking up, you know. >> Yeah. >> Taking control and not having to rely on just W2 companies to to keep you in place. I think that mindset shift is is super important to the country. >> Yeah, man. It’s so good. Well, I love where you’re going with all that. I’m going to back up just a little bit and talk about the transition. So to recap, yeah, you worked the mall mall kiosk, you jumped to the next job and it was just like kind of continue to reset, reset, but eventually you realized that you got to get some exposure to real estate. But it sounded like also too, you were like, hey, how do you figure out this debt question and how do you leverage your credit? And you saw other people using their credit and their Yeah. essentially using debt in the right way to grow their wealth. So, how did that I want to hear like when you joined OPM, when you met Felix and how this is like >> because it sounds like that’s one of the biggest catalysts to not only help you personally, help you professionally and now you’re helping more people, >> right? So, it it’s it’s funny. I was I joined OPM prior to me really starting to acquire real estate, but it just hadn’t clicked. It was I literally had the answer right in front of me, but it didn’t click for me yet. Right. I think it’s hilarious because I was talking to people about it all the time. I’m like, “Yeah, you can just use your 0% card. You can just pull it from here and leverage. ” But essentially I as I was transitioning with OPM I still had my insurance brokerages and everything and they were making money. That industry is beautiful and if you do it right it can eventually turn into something that’s on autopilot. With that said though there’s a lot of variance which is why I I was looking for something that was more stable and that was I call it recession proof in a different way right because technically real estate is recession susceptible but depending what type of model you operate you can make it recession proof right? So I my idea was if I create a cash flowing business and I treat this as a cash flowing business then it doesn’t necessarily matter what happens with my equity today tomorrow or a year from now I can wait it out 10 years 5 years whatever happens in the market right if I have something that’s paying the money paying the bills and also providing cash flow for me and my family then it doesn’t matter I can wait there’s you know what I mean I can weather the storm and with the insurance industry you can’t do that you can’t do that you’re always you have to find more deals there’s always something that has to happen. Even if you have an organization, you have agencies selling and all this stuff. And when it comes to the market, I will say the market is evergreen, which is is different, which is cool, right? If the market’s good, it’s a good time to put away money in that side of the industry. If the market’s bad, it’s a good time to protect money in that side of the industry. So, there’s that benefit, but there’s always one after another that you don’t have an asset that’s building, right? Your agency is supposedly your asset. And so, I was looking for different answers, right? and working with OPM. I was, you know, I was in there in the sales funnels. I was having fun. I was letting people know like this is the credit system. This is how it works. This is how you access capital. I had got the first property. I was working on the second property. And then I was out of money, right? And I was like, well, I need liquid. How do I buy more property? I don’t want to go wait again to go qualify for another type of loan and then living in it for a year and then, you know, move into one unit. Like I’m like, this is this not the life I want to live. You know, I get it. It works. And if you have no other choice, like absolutely. I tell people all day long, go get a forplex, live in what? Like if you have to >> grind it out to get that first step in, then do it. But at that point, like I didn’t, you know, I didn’t want to do that. And I was like, I don’t I don’t want to do that. So, how can I >> how can I kind of collapse these time frames without having to wait x amount of time to qualify for a different type of product or without Fanny May or Freddy Mack getting mad at me because I have too many loans already, right? So, what’s what’s my opportunity? What’s my resources? I love what you’re saying. I want to I want to really highlight it and let let you keep going. But I have the same thought, right? Like and I had when I was when I bought my first couple. Yeah. You bought the first one, you bought the second one, and you’ve got the bug now. You’re like, I want to do more of this. Yeah. >> But you start looking at your W2 and other sources of income, you’re like, “Oh crap, I I can do like one of these a year if I’m lucky. ” Like I had the same realization. I’m like, “But how do I do more? ” And once you get the confidence from that first or second one, it’s just game on. And I think that’s what you’re saying, right? Like it’s such a good way to start to go buy the forplex and live in it. Or if you just go buy your a house and fix it up, you and your wife or you and your girlfriend or just yourself, you and your buddies. Such a good way to start because then you start to get the proof of concept. You get confidence and then if you want to supercharge it, I’m going to I’m going to turn you loose again, Daniel, but how did you start to figure out how to supercharge it? >> You’re right. I think that’s such a big point that we have to like we have to hit on. Just get one. Just start with one. do one and like your perspective just changes so dramatically because I have people all the time like, “Oh, but you know, I don’t think I should buy a house. ” I’m like, “Just buy it anyways. Just buy it anyways. Rent out the rooms. Stay in it. ” Like, and they’re like, “Yeah, but why don’t I just live in it? ” And but I’m like, “Well, you don’t want to live there. You’re telling me it’s it’s not where you want to live. It’s not the area you want to be, and it’s not all these other things, so buy it anyways. ” They’re like, “But what if you know what if it’s not actually just cash flowing and making all this money? ” Okay, get equity then, right? build leverage slowly work on some type of remodel on on the back of it. Build an ad unit in it while the property is just growing equity by itself. Maybe a year from now, two years from now, you’ll have access to another 50 to 100,000 that you wouldn’t have had if you didn’t do this just one one deal, right? And yeah, so that thousand% but accelerating, right? Accelerating. I said, “Okay, so how do I speed up the time frames? ” Obviously, at this point, I had fixed my credit, right? It took some time. We fixed those mistakes and I said, “Okay, I can start accessing my own capitals. ” And I was trying to understand, I didn’t even know you could pull money from credit cards yet, right? We were kind of teaching it, but I didn’t really understand the concept. Felix just said, “This is how it works. ” And, you know, talk to people about it. I said, “Fantastic. ” Right? So, whenever people would ask me that question, right, like, “How do I liquidate, Daniel? ” I’m like, “It’s a fantastic question. We can absolutely help you. Our advance team’s going to help you out with that. They’ll give you three, four different options and we’ll go from there. ” I had no idea what the three or four different options were back then, right? But now understanding, okay, cost of money, I was looking at the the alternatives and at the time I I wasn’t super savvy, right? So, I was just looking at traditional stuff and they said, “Well, you know, we want to see all these numbers. ” And in my head, I’m like, “Well, I wrote off all my stuff in taxes, so I make no money, right? I didn’t even know bank statement loans were a thing back then. I didn’t know owner finance was a thing back then, right? I didn’t know a lot of this stuff existed. So, this first stuff was just, hey, pull money off, 0% credit cards, season the funds, qualify for a loan. ” I was like, “Well, that only took me two months. It didn’t take me a year. ” Like, okay, this is good. This is good. You know, maybe we can figure out now. And I will say this in Vegas, you know, 2020 to 2025 now, we had an insane market growth. Like it was it was ridiculous, right? It was a very it’s not a traditional market. So doing cash out refies here was, you know, we were being able to pull liquid out and all do all these crazy things. That’s not normal in most markets. So take that money, pay back the card. I said, “Okay, but now my 0% run out, right? So what do I do now? ” Well, you can get extensions. You can get more 0%. You can also say, “Hey, I was only able to pay off half and I want to get more because I want to do another deal, but I don’t necessarily qualify yet. ” Well, now you look into bridge loans. And bridge loans is just a term, right? Bridge loans can be anything. It can be hard money. It can be private money. It can be traditional loans. It could be a line of credit with a lower interest rate than what you were about to pay on the cards. There’s so many different ways to go about it, right, Casey? Once like once you have your mindset to like finding a way to make it happen all these doors just magically start to open and you get connected to like oh yeah of course we could have done that right where if we had had that information three years ago and like I would have bought 10 more properties by now right and then that that’s kind of where the scaling happened because properties again also market Vegas it was cash flow now we have a whole battle with casinos and this whole other conversation right but we are making short-term rental Airbnb money that wouldn’t be made anywhere else right where where do you see someone staying six nights, employees working the F1 event, staying six nights, right? Paying $12,000 for they’re not even going to be there. They’re just there to sleep, shower, and go back to work as employees. No, there’s no market where that really happens, right? It’s weird. It’s different. So, that was it was just more cash flow. And instead of just living off that cash flow, the number one thing we said, I just want to get as much as I can because I I think a lot of people try to ride the wave too long, right? They stick in one thing like this is amazing. I’m just going to get like I’m going to live off this. That’s what they use to feed their lifestyle. That’s what gives them their cars. That’s what gives them, you know, the trips and all these other things. And then when it does go away, I know we’ll answer the questions at the end, but I think one of the things I do differently than investors is making sure I’m providing that security for when it does go wrong, right? Not hoping that it does, not saying that it will, and not being pessimistic in any way, but being prepared for the worst so I always have the best outcome. So the worst case scenario happens, what do I do? What are our options? What happens when the city because of lawsuits going on back and forth and decides to put a lean on your house for $300,000 and it’s only worth $400,000? What do you do? >> Yeah. >> Right. Because that’s scary. And if you only have one property, that’s really scary. So the idea was, well, I got to offset liability as much as I can. If I have 20 properties, 15 properties, 30 properties, am I super scared when one is under pressure or, you know, in trouble? No. because I have resources now to leverage from to go find a solution, right? But if I only have one, if I don’t move and if I don’t continue moving, if I don’t continue dispersing my liability or creating security for myself, then I’m putting myself in a position where I could make worse decisions because I don’t have anything to back me up. That’s another thing why it’s not just houses, right? It’s more credit lines, more loans available, more things available to me so that if something does go wrong, I have an answer and I have a solution. And I think in general that’s why business most businesses fail, right? They’re optimistic with what will happen. They know something bad could happen, but they don’t prepare for if it does happen. >> Love it. One of my favorite books is uh I don’t know if you’ve read it, The Road Less Stupid. It’s a funny title, but it’s this old school guy and that’s all he’s talking about. He’s like, you guys, if you’re not thinking like this, you should be because just talk to all these other people. But it sounds like did a lot of that shape from like the kind of the ups and downs you had when you had those peaks and valleys? >> Yes. And also honestly just a lot of access to mentorship. You know, I I think that it’s so valuable. It’s so undermined by people because they don’t understand what they really get out of it. In the insurance industry, I worked for Patrick David for years. Got to have some direct mentorship from him. And I think he shaped a lot of where my mindset came from as well. Just uh work ethic and understanding strategies, scalability, systems, and more long-term thinking, right? the books that they had us read, the framing, the understanding, and and hearing their stories of the situations that they went through too also better prepares you and things like, “Wow, I didn’t I didn’t think that could happen. I I didn’t even think that was a possibility of something bad that can go wrong. I should probably have a backup plan in place for something like that, right? ” And again, it’s not to be afraid of the world, but it’s to be prepared, right? And the more prepared you are, you’re you’re just avoiding all these pitfalls and everything else. And it’s things that you’re buying for a mentorship, right? The whole situation with the lean cost $20,000 to fix and we saved 300,000. However, if that was my first property, if I didn’t have mentors, if I didn’t have people to leverage, if I didn’t have any of those things and that had happened, I probably would have just lost the property. I wouldn’t have had the resources and spent the money prior to create those relationships and those people to call and then eventually, you know, learning stuff like sub 2, hearing different communities out there, seeing what they’re doing, and then going to pay to actually understand how this process works, not just doing it randomly and guessing. And and you know what? I I also did do that right. I also did do it wrong.

And I you know, we had some stuff that failed. We had stuff that went wrong. And and it just goes back to reminding me like, yeah, I probably should have just paid for the mentorship. You’re paying for a shortcut. You’re paying for time that you can’t buy, right? It’s my way I think of what I call as perceiving as buying time because it’s the one thing we can’t buy, right? We we can’t get more time. We can’t get it back. It’s we only have a certain amount. It’s going to run out for us. But if I I can buy 10 years of someone’s time and experience and get that for a certain amount of dollars, that’s the only way I can really buy it, right? That’s the way I can I can buy the the information and that allows me to to move faster and not make the same mistakes that all these other people already did. >> Yeah, Danny, you you highlighted two two huge components to ensure success and it’s all based on resources, right? You mentioned a having the resources for when things go bad, right? And because if you have resources or access to capital or credit or something, it can help you weather a storm, which I love. But then also just the resources to solving problems. And I’ve just biggest thing I’ve learned over years too, like when you because early on I didn’t have it. I was probably like you, right? We don’t have as much resources. We’re hustling. We’re just figuring it out. But then once as we start to join these other masterminds, be around the right people, then you’re just like any problem is just a matter of what is the right where do you find the right resources? And when you have them and you know them, >> holy cow, it’s solving problems becomes a lot easier, right? >> So much easier. So much easier because instead of guessing to figure out who can actually help, hey, here’s five people that can help you in this exact situation. They help XYZ amount of people in similar situations. Here’s the number one person I recommend. Here’s two, three. like call them, find a solution, and stuff just gets solved. You’re not having to go figure it out by yourself. Especially like I especially with like rigs to riches, I think your your audience being in the W2 world, a lot of people end up creating jobs for themselves when they’re trying to get into this industry instead of creating passive income assets and growth, right? Because we want to do it ourselves, right? And this is it’s nothing bad against them. It’s just we we’re not we weren’t like as W2s, we’re not really taught how to delegate, right, Casey? Like >> Yeah. and and and you now know as you know being who you are like the Casey with you know 50 million assets 50 million in assets you know delegating helps you get there that that’s how you get there that’s how you get to build that’s how you get there you can’t get to where you’re at without learning to delegate or being able to use those resources I had a family friend cousin reach out to me they’re taking over family business and stuff and you know they’re asking me all these questions and and it’s great and I’m I’m happy to help and so we were going over these things and I kind of told him like Hey, it it really kind of sounds like, you know, I’m more than happy to help, but it kind of sounds like you need an accountant or you need a CPA for this specific thing and you need some other help, right? They’re like, yeah, but I I kind of want to just do it myself right now. We had another conversation for like another 30 to 45 minutes. And just in that time, he was losing like 20% of his business because of how he was doing accounting, which and I’m like, “Hey, this is why you need this. You just made 20% back because you can fix this now. Do you see why you need this? Do you see why you need an account? ” He’s like, “Yeah, okay. I’ll go listen. ” Right? But if we didn’t have that conversation, he wouldn’t realize he was losing 20% off the top end because of how he was doing his numbers. Just little simple thing, right? And that might seem like not a big deal, but the bigger in business a business gets, you know, the more holes really affect it, right? And I’m sure you know Casey, right? Cost of carrying money is super super super important. Your expenses are super important if you want to make money, if you want to come out on top. And that’s why you work with partners and professionals to make sure the numbers are right. But that’s why people go in all the time, they flip a property, and they come out negative. Not not just because I mean it happens to everybody, but if you notice it just keeps happening to one specific person, there’s probably a reason for it. And a lot of times it’s just because they don’t want to ask for the help. They don’t want to ask for the resources. They don’t want to pay for the additional resources. And I’ve learned my lessons. I’ve learned my lessons that it’s 10 times more worth it to pay for those assets, for that leverage, for for those resources than trying to figure something out yourself that is just not your strong suit. >> Yeah. Well, before we go into our final four questions, our freedom four, Daniel, let’s go right there. Let’s talk resources. I want you to give the audience some resources. I know you’ve shared with our people at Revive Summit from and maybe start base level and kind of like 0% interest credit cards, but then I also want to hear a little bit about the more advanced stuff because that’s what I started to get excited about like the unsecured lines of credit like the layers and the levels as you start to understand this sort of these financing hacks. And guys, this is gold. Like this is stuff that like I’ve learned over the years and I’ve learned the hard way. Like Daniel’s about to break it down so you don’t have to figure it all out like I did. Like he’s known it. So anyway, give us a couple golden nuggets, Daniel. >> Absolutely. So number one thing you do before anything else is you find out where your credit score actually is. And no, this is not from Credit Karma. This is not from your bank app that tells you you have a 780. You know, you’re going to go to like, oh, Chase tells me, Bank of America tells me, Capital One tells me what my FICO is. No, you’re going to go to experian. com or you’re going to go to myfico. com and you’re going to look at a FICO8 credit score. The reason I’m being so specific is because majority of the time that’s what the bank is actually pulling. That’s what they’re looking at. Now, are there some variables? Absolutely. But nine out of 10 times that’s what they’re seeing. And the reason that’s important is because you might go to something like Credit Karma and say you have a 780 credit score, but the reality is you have a 710 or you have a 680 just because you’re looking in the wrong place. So, above all, super super important. That’s where you actually know where you’re at. The secondary step is now seeing, okay, are my balances down or is my utilization down? You want to make sure you have a prime profile for the bank to want to lend money to you, right? And this would be very specific when it comes to not having individual maxed out cards. So, a credit report on any of these sites will say, “Hey, if you’re overall under 30% utilization, which is just the usage of a card, card is $10,000 limit, you’re using $3,000, 30%. ” But overall, adding up all your limits and you know, if you’re under 30%, then you’re good to go. But the reality is banks actually start looking a little bit deeper now and they want to make sure each individual account is under 30% utilization. That’s the first thing. The second thing you want to make sure you look at is your inquiries. And in this scenario, I want you to put yourself in the perspective of the bank, right? So, Casey, you’re the bank in this example. You look at my credit profile and you see I have 20 to 30 inquiries, which means I went and asked for money for 20 to 30 other people. How do you feel about that, Casey? I already went and asked 20 or 30 of your friends and family for money. Now, I’m coming to you to ask for money. Would you be a little concerned? >> Yeah. Oh, yeah. All right. >> You’re gonna ask me why I need the money, right? >> 100%. >> And then you’re gonna want to know how much you got from all those other people. That’s the same way the bank’s looking at it. They don’t want to lend you money for that reason. So, we want to go ahead and make sure that the minimal two to four inquiries. If you need some help with that, we can obviously help you as well. Then you start accessing intro products. And intro products in major banks are things like 0% interest cards, whether they’re personal or business cards. Obviously, business credit cards have a a big benefit in the fact that they don’t report any type of utilization. So, if you decide to leverage them and you have carrying costs generally with real estate, it’s not going to affect your credit score, right? So, if I have a $20,000 personal credit card and I max it out to invest in real estate, my credit score is going to tank because I maxed out utilization. If I do it on my business credit card, that doesn’t show up anywhere publicly. So, my my personal credit score is still in a good state. Now, I probably can’t go to that bank specifically and ask for more money again, but I could go to other institutions that don’t see that, right? And I could still acquire some capital. Uh, but 0% cards anywhere from 12 months, 15 months, 18 months, 21 months, and they come at a 0% rate. Uh, obvious you do have minimum payments because they are credit cards, but you’re able to leverage that money, go build something with it. Uh, call it free money, right? Free money. As long as you use the do the right things, have the right resources, and put it into the right type of right type of deals. They’re the easiest to enter, and they’re the most leverable, right? So, a lot of times people say, “Hey, you know, I I saw Casey has a a gold and platinum Amex, and he flies around and, you know, gets to use fancy metal cards that sound really cool when you put them on the table, but they’re not really helpful for real estate, right? Those are very specific for different things, for travel, for points, for eating, but they’re not going to be what you leverage because you want to invest in real estate. So, I think especially in the credit world, sometimes people get stuck in the flashy side of it and don’t realize that you you still have to build the foundational, right? You still got to get the forplex. You still got to get the forplex to build something off of that, right? And that’s the first foundation, 0% cards, and you can go to uh creditcardmatch. com or even off Experian. I would go off experience just kind of see what offers are looking there. You want to stick to the big companies, right? So, you don’t want to be applying with lower tier cards. So, if you see like the credit one cards, you obviously don’t want to apply for that. You see the One Sky, you you don’t want to apply for that. You want the major banks, you want Chase, Bank of America, US Bank, Wells Fargo. And specifically, I’ll let you guys know there’s there is a little hack thing that you can see for the type of limits that you can expect on certain cards. So, there’s partners, a Visa signature, if you see Visa signature, it’s usually 10K and up. It could be 20K, 40K, 50K, 70K, 80K. I’ve even seen $100,000 credit limit on a Visa signature, meaning that that type of card requires the highest tier of credit. They want the best possible profile, and you know, you’re going to get a decent limit. If it has a signature, it’s going to do that. It’s also probably going to come with an annual fee. There’s going to be some things that come with it, right? Versus just a regular Visa card. So every bank and every partner has a different tier. So that’s kind of a cool thing that if you just see the word signature, it could be a a Chase Visa signature, it could be a US bank visa, it could there’s visa signatures is on its own, right? But with whatever, you know, it’s going to be a higher tier. So that’s something kind of cool that you can look out for. But that’s the first phase really. That’s that’s really where a lot of people start and sometimes that’s where a lot of people stay. >> And higher tier meaning you’re going to get higher limits or higher it’s higher to get it. Yeah, >> both. Well, okay. So, like they’re never going to give you a $2,000 limit because that’s not what that card is made for. Does that make sense? So, it’s like it has to be a high limit because that card is built on a certain platform for high limits and higher quality clientele. Right? So, if I have a client that let’s say I know their profile isn’t super strong. It doesn’t even make sense for me to apply for that because it most likely wouldn’t get approved. But, I’ll kind of give you an alternative. If I go to a credit one card, there’s no Visa Signature Credit One card. If I start at a $500 limit, that credit one card will never ever ever be a $20,000 limit. Maybe 1,500 bucks, maybe 2,000, but uh you know, Visa Signature, even if I start at the lowest of 10,000, that one could eventually be 20,000, 40,000, 50, like I can build on that. Does that make sense? So, it’s built on a platform and a card that can actually grow in limits versus some accounts that will that they’re just not built for that. They’re not on that platform because that demographic of clientele that they’re trying to target is doesn’t exist. >> Makes sense. Okay, >> different tiers, different groups of types of credit cards, right? So, like Capital One is like a mid-tier bank, right? It’s not the best, it’s not the worst. They recently came out with their Venture X, which was meant to compete in the AX world or Chase world. So, now they have one high tier credit. So, if you get a Venture X card, you could get a $20,000 limit of $50,000. You could do that. But if you get like a regular Capital One, maybe 15K, maybe 20K max, but you might start at 2K or 5K or all these other things. >> I wish I would have known that. I remember when I first cap Yeah. I got like a $2,000 limit on my no wonder on my Capital One. I was like, why waste my time? >> Also, also Capital One Spark. Look, I’m not talking about bad about the bank, but it’s one of the only business credit cards that reports your utilization to your personal credit. >> Yeah, that was it. It was a Capital One Spark that I had. >> So, I see it all the time, by the way. All the time. And they get one. They’re like, it’s a business card. They want to go through funding, right? And they’re they’re like, “Oh, I’m great. All my utilization’s down. I get the credit report. They have max out utilization. I’m like, what’s going on? ” I’m like, “Oh, I have a Capital One Business Spark. ” Like, “Okay, and it’s maxed out, right? ” They’re like, “Yeah, but it’s it’s business. ” I’m like, “Yeah, but it’s on your credit report, so everyone sees it, but it’s loaded in a project or something. ” And now they’re shooting themselves in the foot and they can’t do what they’re trying to do because of it. So, you start there. Then, you’re able to move on to like the second stuff we were talking about, Casey. And this is where you do like depository accounts, creating bank accounts with different institutions. So, you’re you mainly want to start in in uh class A institutions. These are the big billionaire banks, right? Chase, Wells Fargo, Bank of America, US Bank, all that stuff. And then if you if you have liquid, great. You already start creating checking and savings accounts with maybe regional banks that are only available in certain marketplaces, class B institutions, not lending to as much of America, but still a good part of it. And they’re a little bit more lenient, right? And if you don’t have liquid, you can pull it from the credit cards and use that to start creating relationships. You’re not spending the money. You’re just putting it down as deposits. you’re holding the money in savings accounts 30 days, 60 days, creating relationships, and you might qualify for different products that might not be regularly available to someone who just shows up. So, if I just show up to a class B institution, regional, I want to go apply for stuff, their requirements might be more strict. They might be asking me for taxes, bank statements, and all these other things. But by simply just putting in $5,000, $10,000 in an account, sitting with them for 30 days, 60 days, I actually might just get an offer in my email saying like, “Hey, you qualified for uh a no no uncolateral uh cash loan for 50k, up to 50k, right? Or line of credit for up to 50k. And by the way, you could probably get 80,000, 100,000, but that might require financials, bank statements, all this stuff. ” and they’re offering you kind of like the quick easy application, the the simplified one day, same day, 10-minute application to get a decision. And that’s the stuff that you want, right? Because now you’re able to acquire more still insecure without having to provide all the stuff, especially if you’re just starting a business. Now, if you already have it, great. Like, that’s next the next next phase. Uh, but if you don’t, this is a fantastic way to start creating relationships. And like I said, you’re starting by leveraging all that 0% and you already have a plan in place 6 to 8 months from now or 3 to four months from now. You already have another 100,000 150,000 that you’re going to be able to pull out and leverage. Either A, the 0% worked out perfectly. You already paid it all back and you’re going to just relever 0% or B, you can maybe leverage that to pay off all the 0%, put yourself in a position to go get another round of 12 to 15 months at 0% and then keep going, right? And then you have affordable payments because you’re structuring your debt. You’re kind of understanding your payment plans. And sometimes something that has been suggested in certain cases if the interest rate is low enough is like let’s say you have a 100 but you’re concerned about servicing the debt. Maybe it’s just something where you’re holding cost and you’re not going to be able to cash flow during 6 months, 8 months while it’s happening. You will you get an additional amount of money, an extra 20 or 30,000, maybe 20 to 50,000. And you just put that separately into like a high yield savings account with like American Express or something. get at least an extra three or 4%. You’re not making money, but you use that to service the debt that you used to invest. And so now you’re not freaking out. You’re not trying to like rush things wrong, you know, cuz we’ve been there. Sometimes I’ve rushed a project that shouldn’t have been rushed in a certain way because I just needed to get it done, right? Cuz I was afraid of capital. But this is all again strategies putting in place so you don’t have to run into the same situations. And now I know, hey, you know, this job should only take eight months, but I can carry a year and a half without be without being worried about the payments or the cost of carrying. Does that make sense? >> Yes. >> Right. >> Yeah. >> So, just being more strategic if you don’t have the capital. Is that what I recommend for everybody? No. But everybody’s different. And if that’s something that’s necessary, it could make sense, right? So, again, these are all variables. You got to take a look at all that stuff, but it’s something that could make sense, then you can, you know, move on to next institutions. And go ahead. >> Yeah. Well, go back there, though, because I’ve always struggled from experience like we I started to get more success. It’s easier in my opinion to get the 0% interest credit cards, but the lines of credit, the unsecured stuff at banks has always been and it’s one that you always hear about and you’re like people talk about it, but to me executing on it has been harder. Like even with me in my experience, like I’ve struggled to get banks that will lend unsecured lines and then they’re doing it one day. Like I had a really nice line at US Bank because I’d been there for a while and then couple years later that got shut down and they’re just like cuz cuz my like I was in the middle of a bunch of fix and flips and they looked at all my financials. They’re like, “Oh, you got too much leverage. ” Right. But how like what’s the good way for people to actually is it literally just going in and start talking to all the small banks you can and or how do you get that approved? >> Yeah. So, and this is where we showed it at your guys’ presentation, Bank Locator. Uh just look it up on Google. you guys can kind of see what the different types of institutions like regional institutions and credit unions are in your area and you want to leverage all three, right? So when US Bank, for example, because it’s a big one, they’re looking at the risk threshold across everywhere, right? Not just where you’re at. And if they be, yeah, you’re overleveraged, but that’s because they’re worried about something else happening, right? >> But a regional institution or like a a credit union, well, they’re only lending to your area anyway. So what is their primary concern? Your area. So if your deal makes sense in your area, they want to lend to you. Number one. Number two, they have to lend to somebody because banks make money doing what? How do they make money? Like they don’t make money just by you like having money in their like yes, they have federal money and then the leverage of what’s in their depository accounts versus what they get from the federal government, but that’s a whole that’s fractional banking. That’s a whole other world that we’re talking about. But aside from that, the primary way they’re making money is by lending money, right? >> But they’re not lending to all of America. they’re only lending in that region. So, you just have to make yourself attractive. So, how do you make yourself attractive? You need to have a savings account with them, have some money sitting in there, and that’s kind of your backup, right? So, when US Bank is getting weary before that even happens or you’re seeing that stuff going on, something going on in the market, you’re noticing you’re starting to get leverage, you that’s where you already want to already have those new relationships established and say, “Hey, you know what? Whatever name of credit union is close by, I have XYZ amount of money in US Bank right now, I have this. They have a line of credit for me for 150, but honestly, the rate’s just really not favorable. What is something you guys could do to earn my business so I could work with you guys instead? Right? So, it’s not even so much like pleading them to give you money. Like, you can make them work for you, right? Because they want to earn that business. They want to earn your type of accounts. They want to have the client that has 20 bank accounts open with them with all have their own fee and all have their own, you know what I mean? Like, they do want to have that, but you have to create those relationships. So, that’s what I’m saying. five $10,000 sitting in those bank accounts seeing what type of offers and products that they have because the reality is they want to work with you. We I had one here uh where I was working with a new business manager and she just wanted more of my business. What does that mean? Because it’s it’s not just debt, right? They want to be your credit card processor. They want they want to see how much of your business they can absolutely get because it’s good for the bank. Like they they were taking out us to baseball games and making us jerseys for and they’re like, “Hey, meet so and so from the bank. like what what else can we do for you? But that only works if you establish a relationship, if you do deposits with them, if you’re if you’re bringing new accounts to the bank, too. Like all of that stuff is super helpful. And I think it’s a little bit undermined, right? It’s not just walking in and talking to a banker. It’s going in and asking for specific questions. Hey, do you guys have a new business manager? I’m interested in kind of what products you guys have. Do you guys have easy applications? Do you have same day applications? you know what if I wanted to look at lines of credit, what are you guys’ qualifications and what’s what do you guys lend at, right? Because at the end of the day, even if it if they’re willing to lend you money, if they want to give it to you at 25%, it doesn’t make sense, right? >> It’s really high. So, how do you get them to be competitive? You make them jealous. You show them what you have already, too, which is nice, and say, “Can you beat this? I’m about to run out of 0% here. If you can beat it, then I’ll go with you guys, but if not, I’ll stay at that bank. ” Right? At the end of the day, like that’s why they do sign up bonuses when you create checking accounts when you leave one bank to another because they want you to come. The only way you get the signup bonuses is by depositing money or having direct deposits, right? So, what does that mean? They’re taking business from another bank, right? Why are they doing that? Why are they willing to give $500 to $1,000 for a million people to leave other banks, right? Because they need money in their bank. So, an institution is only as strong as how much money they have sitting in their bank accounts because that’s how they get money from the government. There’s there’s a lot of things that you see in the marketplace when people are fearful of bank runs all of a sudden they start doing secured products like CDs and bonds because in order for they’re going to give you 4% s like I I I don’t know if you remember like during COVID times and everything when people were scared of bank runs possibly happening where everyone wanted to pull out so for those who don’t know a bank run is when everyone decides to go to the bank at the same time they want to pull their cash and the bank doesn’t have the cash and it causes instability freakouts all these other things and it could make a bank go under. So, a way banks protect themselves against this is they provide CDs or bonds at a really nice high rate of return. And these are secure products, right? They’re guaranteed rates. And so, what that does is say, “Hey, well, I have this money sitting in my checking account that makes me 000. 2%. I’m going to go put it in a CD for 6 months or eight months. Now, they’ve locked in your money where you can’t take it out for a certain amount of time. ” And it provides in layman’s terms safety for the bank. Now, they don’t look high risk to the federal government. federal government gives them more money and that’s what they lend, right? So they have $100,000, the federal government gives them a million. Yes, that makes sense, right? They have >> 10 million, they get >> 100 million and that 100 million is what they lend to make money on and their rate is like 2% on that money, right? Yeah. >> So even though they’re small institutions or regional or you know even credit unions, they’re still playing in the big world. And the second you understand that, you understand that they have to lend money. So they they need clients, right? Yes. You you can’t come in with a 400 credit score. That’s not what I’m saying, right? But be attractive for them to lend to you and then know that they do want to lend money. >> Ah, that’s so good. All right. A little further, Daniel. So, and yeah, one last one before we go to the freedom four is so you talked about the 0% interest credit cards, a little bit of that. The next phase was the lines of credit, right, at the local banks. What’s the kind of what’s the more advanced one? Where would you go from there? >> So, it’s lines of credit and loans, right? And that’s usually you go regional institutions, then you go credit unions. The next step step up from that is now when we get into more commercial funding. And this is stuff where we have kind of like agency debt, right? Kind of think how we talked about like non-reourse debt. So there’s like private money that’s lended out in the same way that banks will lend out. And this is where they can do something called like invoice factoring or like you’re making money at this point, right? This is like the next phase. You’re making money. You have cash flow. You have taxes. You have bank statements. That is that where we’re at right now? >> Yeah. >> Okay. So you have that. So now it’s more like it’s not so much you’re shopping as they’re shopping you. So now when you have a proposal, you say, “Hey, this is what I’m looking to get. I would like a line of credit for a million, 2 million, three million, but I’m making 8 to 10 million in revenue, right? I’m just giving a big example, but let’s just say someone’s making a half a million or a million. Looking to get 100,000, 200,000, half a million. I want a line of credit. I want XYZ. ” Cool. We’ll go shop it. Now we see, okay, what brokers like these types of products? Who likes these type of business entities? Nat codes. That’s one. And also going back to your bank. So then there’s different products that are available depending on where you’re at financially. These are products that are not going to be publicly available on their website or you know just these are products that are say hey you know what we’re rolling out a new line of credit case you for businesses that have x amount of depository with us or x amount of time seems like you’re pre-qualified probably do you know 150,000 or you know are you looking for more than that and when they’re saying that you’re you’re generally at this point already kind of pre-approved. If you just say yes they’re pretty much just giving it to you. If you say, “I want more. ” That’s when they’re going to ask for more financials, right? But this is at the point where you’ve already created the relationships with the 0% cards. You’ve already created the loans. You’ve paid them off. You’ve done some lines of credit on the smaller end, 40, 50k, and now they’re just like, “Okay, we want to do bigger business, right? ” And and this is uh who someone at your summit said this the other day, but it gets to the point where it’s not that you’re in business by yourself anymore. Now you’re in business with the bank, right? because it’s it’s it is in their best priority to take care of you because you’re making them money and if you’re leveraged into a certain amount of things now it’s just not it’s not just your problem anymore it’s like okay it’s their problem now like what can we do to help out Casey right in case something does bad happen does later on you just go to that bank now it’s like listen in your head you already know it’s in your basic case interest to help me but you’re like I need like a couple months with no payments or something with 0% because XYZ is happening you’re going to be like of course Mr. Casey, no problem. Let’s see what we can do. You know what I mean? It’s it’s a whole different situation that that happens at that point. But that’s where you need two years of taxes. You need bank statements. They’re going to want to do P&Ls. They’re going to want to underwrite your debt schedule. So, debt schedules are what payments you’re already uh subject to. It’s not necessarily leans or first or second positions, just all debts in general, right? They want to know what your payments look like. And make sure that you’re soluble enough to make payments to them as well. They’re generally a little bit more favorable when it comes to the interest rates as well because they’re bigger lines so they can make more money on on those types of things. >> Yes, makes sense. Okay, man. That’s good. Okay, I could keep going, man. But let’s let’s do the freedom four. I know I teach you up for these ones. So, let’s go here. All right, so we answer all our questions all about financial freedom here. So, the freedom four. Here we go. Number one, if you lost it all today, Daniel, what’s the first thing you would do to get it back? >> So, first thing I would do is rebuild my credit. number one thing I would do is rebuild my credit because it’s the foundation for for quantum leaps in your life. It just it helps you hop and skip a lot of the time and and the grind work that you would normally have to do. So, fix my credit number one and get a sales job or a really like and the reason I say sales job is that way I’m in direct control of how much money I can make so I can make more money faster so I can get back into investing into things that can actually build my assets and my life back. That would be my number number one thing combined that I would do because at the end of the day even if you get a high paying W2 job it’s hard generally speaking you know thinking back I I didn’t have a life I my life was tied to what I had when I had to be there when they told me I had to be there and that was it right I didn’t really have a choice and the more days I took off the more problems it caused and you know it it is what it is so sales job make money use that to invest have good credit to keep leveraging and growing it number one thing >> heck yeah no great answer >> and it’s a different one than we usually typically Good. Typically, it’s everybody’s like network network, which I know is a big one for you, but I like you gave a much more tactical one. >> Yeah. But well, it’s just it’s just like what what’s the point of me networking if I don’t have any money to do anything with anyways? Like, yeah, I could find deals, source them. I could wholesale. That’s sales, right? I could be wholesaling deals. But and I think I learned that in I think in the insurance industry, like the first six months, which is why my first year business was terrible, right? I was networking every What are you doing? Networking. What are you doing? Networking. Networking. I’m fantastic. No money, no sales, no like I’m like networking is cool, but it’s just kind of like hanging out. Unless you can get some exchange out of it, right? A do you have something really really good to offer to that market of networking or are you able to make them money in some way that allows you to make money too? But if you don’t know what your skill set is yet and you don’t know what you’re doing yet or you know exactly what you want to do but you don’t have enough money to do it yet. In my opinion, sometimes networking can be a waste of time in that example, you know, which which is why I was like, well, if I have really good credit and I’m making some money at least now, if I’m networking, if there’s opportunity, I can actually seize that opportunity, right? Maybe I don’t have the money right now, but hey, there’s 20,000 for a position of equity of XYZ amount or to make a 15% return in a short amount of time. Let me pull it from credit cards. There you go. It’s not my business yet, but I can keep making sales, which allow me to make the credit card payments and pay my bills. And now that money went and worked for me while I didn’t do anything, it came back and I can keep going, building, and you know, moving from there. >> Got it. I got it. Okay, cool. Well, perfect. Let’s go to number two. I know I tease you had one ready for this one, but what’s one deal you would never do again? Why? >> Condo hotels. Condo hotels in Las Vegas, they are not what they’re cracked up to be. And I think for me the thing I realized is there are too many variables which is also why I kind of want to buy a boutique hotel now so I can actually control those variables. But when you invest independently like in one unit where there’s already 300 400 units or even 100 units there’s too many variables that you have no control over. You don’t control what type of market or demographic is there. You don’t control the restaurant that’s built in there. You don’t control what the staff is in the front, how they treat the clientele. You don’t control the maintenance time. There’s too many variables that you have no control over. And for that reason alone for me like I I did it and I realized it was it was a huge mistake. It caused so many more issues that it it became a headache that I actually had to worry about. And the whole point is when you’re investing is to not have to be directly involved in all these things. Right? So for me in that example, single home families made way more sense until I’m able to transition into multif family like yourself or even like boutique hotels and things like that where I can have more direct control of what I’m investing in. If there’s an issue and there’s something wrong, yeah, it’s my fault. It’s my responsibility, but I can fix it. But when I don’t have controls, makes me feel like I’m back on my W2 where I have no control to be able to fix things or or get better. >> Got it. Oh man, that is a new one, too. I had never thought about, but that makes total sense. And live and learn, right? Sounds like Yeah, it’s like all of them. Okay. What’s one thing I know you thought about this one, and you can go a little deeper on it if you want, but what’s the one thing that you do that most over other investors overlook? I know you talked a lot about the secure like just how like what happens? What if this? How are you secure? Like how do you how do you back up plans? >> Yeah. >> One thing I look at with all my deals is anything any business model or anything else, right? I look at what is Armageddon? What is the worst absolute worstc case scenario I could possibly ever have happened to me on this deal? I think about that and there’s no direct solution right away, but I’m going to go find a solution. So, I think about it. Whatever that worst thing that could possibly happen, like I think of the most craziest situation, like I have, you know, let’s say I was only able to create margins because I had a specific underwriter that we’ve been doing deals with for the last five years and he’s like, “Awesome. All my costs get reduced. Everything’s beautiful, right? I’m going to have great margins. ” He gets in a terrible accident. He’s gone. I no longer get any of that stuff. My deal’s in the air. I have no employees, no resources. I can’t get the materials at the same cost. And if I do this exact same deal, I’m going to be upside down, right? like that would be my worst case scenario, right? So, what would I need to make sure would happen in order for me to be okay? So, I took that away. I think of the worst thought. I took it away and say, “Okay, if I needed to sell, can I have like a buyer lined up to buy this at a certain price? Do I have someone that would take over this project or help me fulfill it? Do I have someone that even if I can come out even even if I didn’t make any money for x amount of time um but I’d still be okay or bring in a partner to hold the carrying cost and allow us to have time and equity positions or something else to be okay again if that’s my solution like I need to start figuring that out right now. Now those things might not ever happen and it again it’s not to be paranoid or any of those other things but because we’ve had crazy things happen. I had a partner whose house burned down in the middle of a remodel because the the people that it was bought from used an extension wire like through the roofing of the house to connect some some like electrical lining, an extension cord that is not industrial or outdoor. Like it there was no reason it should have been anywhere inside of the house. Do you know what I mean? Like they ran it through a wall and through the like random fire and that one’s simple, right? That’s insurance. But like what do you do about that time? That project was supposed to make money. It was supposed to do XYZ. Now all of a sudden we’re in this weathering the storm, right? Trying to figure it out. So thinking of AR Armageddon, putting a plan in place and then tucking it away and then doing what you’re supposed to do anyways and hopefully it’ll never happen, but making sure that you have a smoking gun to protect you is fundamental. Fundamental. Not being paranoid, but being prepared. >> Yeah, dude. So good. Cool. Let’s do our last one here, Daniel. This has been so good. So this is we call like the the fiveyear mirror question. So the first part is pretty easy. What would you give yourself 5 years ago in 2020? What would Daniel tell himself now? And the second part is what would 2030 Daniel tell Daniel today? >> The first one’s easy. The the first one is definitely think big. Thinking big is huge. Don’t think in growing 10% over a year, 20% over a year. Think of what crazy possibilities there are. There’ll be another story I have to tell you about a billionaire I met that just broke my thinking. But thinking big, just thinking the most possible things that you could do, right? Never underestimating yourself in what’s possible and never overestimating what you can handle. And what I mean by that is what you can handle by yourself, right? So thinking that you can do everything and all things by yourself, it’s not true. But not thinking that it’s possible because it’s by yourself is also not true. So all of these things are possible if you’re willing to delegate, have partners, have a team, and be able to get there. You can think the craziest things in the world, and they’re all possible. You can make them happen but not by yourself. >> Man, that’s good, dude. Okay. Yeah, that’s and that’s different. Again, another question you answered way different most other people, so I like it. Okay, cool. Any more to add on the sort of like Daniel in 2030? >> 2030, man. The the Daniel in 2030, and I think I’m I’m I’m working on this still now, too, and I believe is important is that uh still be proud of what you’ve done so far, and don’t forget to continue enjoying what you’ve built today. This has been so good. Like we usually don’t go this long, but when somebody’s giving you guys this much gold, I let it keep flowing. Let it keep going. So Daniel’s gave so much so much value today, man. Daniel, last one. Yeah, as we wrap it up. Where could people find you if they’re interested in OPM or just want to learn more from you? Where can they find you? >> Absolutely. OPMy. io. You’re more than welcome to Google us. But also, I would highly recommend go through Casey and their team directly. They have a link for you guys to book a call with our teams to diagnose the issues or just to kind of have a chat and see if this is the right fit for you guys. make sure that we give you guys information you’re looking for and and just figure out what’s the best situation for you if it’s us or maybe it’s another direction. We’re more than happy to assess any situation and see how we can help. >> Awesome. All right, Daniel, man. Well, thank you again for coming along today and I will share the links so you guys can connect with Daniel and get you guys hooked up. He’s helping us. He’s helping so many people. He was helping people out of Revive Method. True go-giver. Thanks again, Daniel. >> Thank you so much, Casey. We appreciate you. If you’re listening to this because you’re chasing freedom, not just for yourself, but for your family, then don’t let this just be the background noise. Take action. Shoot me a DM. Reach out. [music] Find a property. Make a call. Remember, small moves today create the life your future self and your family will thank you for tomorrow.