Tim Lyons: 0:02
That book helped me to get focused on the area in which I wanted to really dive into, so it’s a good how to book to get started and kind of lays the groundwork for the different ways to invest in real estate.
Greg Lyons: 0:16
Welcome to the Passive Income Brothers podcast.
Tim Lyons: 0:19
Here we take the fear out of real estate investing, using real life stories on everyday successful investors. Let’s go Welcome to another episode of the Passive Income Brothers podcast. My name is Tim Lyons and today I’m joined by none other than my brother, Greg. How are you doing today, buddy?
Greg Lyons: 0:33
Tim happy, happy to be back on the microphone today talking about well, we’re in summertime and really nothing gets done in the summer. People are on vacation, People aren’t taking calls. It is just a crazy time to try to get anything done in business, let alone real estate 100% and as an investor, right, it’s easy to say you know what.
Tim Lyons: 0:57
Things are just too crazy out there. I’m going to take my family and I’m going to go on vacation. I’m not going to think about it. I’m going to go sit on the beach and think about the FOMO and think about what the market’s doing and think about what I should be doing, but I’m too scared, I’m not going to do anything and that’s no way to get through life, right? So we are in a pretty crazy time. The markets are still going up, despite a lot of current indicators pointing towards a recession or a disinflation. And yesterday or today actually, greg, the new CPI number came out at 3%, which is incredible, right, but the Fed is still talking about doing one or two more rate hikes. So there’s a lot going on, right, and it’s hard to read the tea leaves. But the best thing we can do, greg, is to continue to take action and, in the face of uncertainty, get educated, get around people that are doing the thing that you want to do, get around people that are talking about the topics, listen to podcasts, read some books and really kind of keep moving the ball up the field. So the minute you stop is the minute that you’re seeding some of your potential gains. So, greg, what do you think about that?
Greg Lyons: 2:02
Yeah, it’s really funny and I talk about summertime people going on vacation can’t get anything done. But I think it’s also the point in the market cycle that we’re in and people are thinking to themselves I’m not going to invest now. There’s too much uncertainty when, in fact, this may be the best time to invest. Of course, we’re not giving any advice right here, we’re just merely giving our opinions. So when you think about it year ago, two years ago, when cap rates are at 3% and people are making money or you hear of other investors making money people are throwing money at real estate, whether it makes sense or it doesn’t make sense, but everyone’s doing it. Real estate is hot. You come to a time like this a little bit of uncertainty, everyone’s pulling back, interest rates are high. This may, in fact, be, in my opinion, the best time to start investing. There’s been an expansion in cap rates. People are maybe getting in a little bit of trouble right now and maybe need a bailout. There may be more deals out there. So right now, instead of kind of burying your head in the sand and if you’re at the beach, I’m very jealous of you right now but this may be the time to double down and say how do I get involved in real estate? Because not everyone’s doing it. It is not exactly blood in the streets, but not exactly everyone is dying to be a real estate investor right now. That’s why this may be a great time. That’s why I have my antenna up, no doubt.
Tim Lyons: 3:37
And Greg. This all goes back to investor psychology, which is something that I’m fascinated by, and for Greg and I, raising capital over the last two years has been. I’m not going to call it easy, greg, but when the market is doing well and people are getting paid and people are making money, it’s really easy to kind of it’s an easier conversation. It’s an easier conversation Right now when there’s mainstream media news headlines that are designed to get clicks and get people emotions stirring and uncertainty and fear. It’s become harder. It’s become harder to raise capital, I’d say, from folks who are new to the process. For sure, those who have been in the game for a while understand the market cycles and dynamics and they’re still investing Right. And what I think it’s funny is that if you talk to an investment counselor or a financial advisor, they’ll kind of counsel you on dollar cost averaging, which simply means that whether the market’s high or the market’s low, as long as you keep on investing a certain amount of money every week or every two weeks or every month, like clockwork, you will do what’s called dollar cost averaging into the market. So you’re not buying when it’s totally high, you’re not buying when it’s totally low, but you’re kind of just building your position over time. For some reason, when it comes to real estate, the dollar cost averaging mantra seems to cease to exist. Out the window, people don’t want to talk about it. Out the window, yeah, gone. And we talk extensively on the show about there’s a million ways to make money in real estate. But one of them I really want to kind of highlight for people is to keep on looking at deals, right. And if you’re looking at deals these days, you want to pay attention more to the debt, you want to pay more attention to the underwriting, right. Who’s looking at our rental increases? Are they doing expenses to really adequately reflect not only the inflationary period but things like insurance and stuff like that and taxes? So just so like you’re really still doing your homework and because there’s going to be opportunities out there. And right now is really when you need to dive into the data and kind of know what is a good deal, what has legs, what has potential to really kind of take off. And the one thing, greg, I always want to stack on top is one of the things I hear a lot from investors these days is, tim, if I can get a risk free for, to, say, 5% in a money market account, why would I invest in a deal that’s only yielding, say, four or 5% in year one? And it’s a great point and I get it right. So if you’re totally risk averse and you want to just collect that interest, that makes a ton of sense. But there’s really no upside, right, there’s no upside, there’s no tax benefits, there’s no appreciation on the other side of that right. So we’re potential appreciation. I don’t want to get in trouble by our people here. So, really understanding, like money is going to flow to where it’s treated best. Right, that’s just throughout the course of history and investing money goes to where it is treated best. So, greg, with that, what are some of the things that if we had to counsel the brand new investor this summer, greg on what to do, where to find some information, greg and I put together basically a top five list. So, greg, why don’t you take us to some of them?
Greg Lyons: 6:45
Well, thank you for rolling out the red carpet. This is an easy one for me. We have put together the summer reading edition of the passive income brothers. I mean, this is when you’ve got to get your pencils out and say I’m taking notes, I’m going to write some stuff down, we’ll put some links in the show notes. However, this is a time to educate. If you’re not going to be an active investor right now, use this time, where there maybe aren’t as many deals, to start learning about stuff, and that could be with books, podcasts and newsletters. There’s a ton of information out there and we’re just going to run through some of the things that we like, either we reread or re-listen to or listen to on a regular basis. That just helps us make informed decisions about what’s going on and what’s going on in the world around us from a multitude of different opinions. So, tim, let’s take a look at the books, and I think when we think about books, we start with a couple of well, the Holy Grail and then a couple of books kind of right under that, and I think the number one book that most real estate investors read is Rich Dad, poor Dad, by Robert Kiyosaki.
Tim Lyons: 7:55
That’s it. Rich Dad Poor Dad was the book that changed everything for me. If you’re a longtime listeners of the show, you know that in July of 2019, while on a family vacation with Greg and my brother Brendan and our families and my dad, I couldn’t put Rich Dad Poor Dad down. And that was a book that stayed in my firehouse overnight bag for over a year, coming back and forth to the firehouse home, and I never took it out. So that was a book that literally changed everything, as cliche as that sounds.
Greg Lyons: 8:24
Oh, I mean cliche is a sounds, you are a walking cliche. But no summer reading lists would be complete without the follow up to Rich Dad, poor Dad, and that is the cash flow quadrant.
Tim Lyons: 8:36
So if Rich Dad, poor Dad, is the framework, the overarching theme of investing right and putting your money to work for you and using other people’s money and not buying due dads, and buying assets, not liabilities If that’s a thought framework, then cash flow quadrant is the tactics right. It brings you through. What kind of worker are you? Are you a business owner? Are you a W2 solopreneur? Right? What side of the quadrant are you on right now? Which side of the quadrant do you need to be on? And when you read this book, it’s all going to make sense. And this was a book where I read it cover to cover and I immediately opened up to page one and read it again, and I’ve also subsequently listened to it on my audible.
Greg Lyons: 9:18
So, and I think with all these books we’re kind of going through, we reread them just because it’s so powerful. And if you make it through those two books and you have a real interest in what’s going on, I think the third book here really ties it all together for you. Because you can invest, you can buy assets, you could do all these different things, but our biggest expense that we have as Americans are taxes. So to learn more about the tax code is not boring it’s not April 15th, oh my gosh. I have to write a check. It’s really taking advantage of the tax code. And after those first two books, the third book is Tax Free Wealth by Tom Wheelwright.
Tim Lyons: 10:00
Oh my God, if I ever meet Tom Wheelwright he’s probably going to get a hug, maybe even oh, bear hug, bear hug, baby. Because I used to be scared of taxes. My tax strategy was to get between $6,000 and $10,000 in a tax refund every year. That was my goal. If I got that, I mean wow. But as a New York City firefighter and a ER nurse, I didn’t have a lot of tax write-offs. I didn’t have anything. I was a W2 worker. I was on the wrong side of the cashflow quadrant. I was working every April or May just to paint my tax liability. I mean, think about that. You’re losing a third of the year probably, if not more, to your tax liability and you don’t have any recourse. So once I understood how taxes work and how you can make it work for you, and how the tax code it’s actually a set of incentives to play by their rules I mean it was so, so powerful. I actually really enjoy reading about taxes now. I mean, think about that. If anybody knew me 10 years ago, they think that I was crazy.
Greg Lyons: 11:00
So tax free will by Tom and Greg, but that’s like most people, though You’re like they want no part of taxes or they’re doing their taxes with one eye open, one shot, just hoping for the best, instead of planning and making taxes work for you, and I think that is the big shift that most real estate investors have to take a look at, greg.
Tim Lyons: 11:19
I want to stack on top real quick. People’s CPAs quote, unquote. They have a guy.
Greg Lyons: 11:23
I have a guy.
Tim Lyons: 11:24
I’ve been using him, my parents have been using him, my aunts and uncles all use him or her Right, and we’re going to continue to use him or her because that’s what we’re going to do. Meanwhile, what I always tell people is people’s CPAs sometimes torpedo their financial lines because if the CPA doesn’t know about something, right, just as a human nature, if you don’t know about something, a confused mind says no, an uncertain mind says no. And if they’re not willing to put it in the legwork, they’re not willing to get educated. They’re not willing to understand the process of starting a business or investing in real estate or oil and gas or land. That they don’t know, that they’re going to probably counsel you against it because they don’t understand it. They’re not going to know how to report it and it’s easier just to doll across average into the nearest Vanguard fund that everybody seems to know about, right. So I always say like if you broke your ankle, you wouldn’t want to go see a neurosurgeon, even though the neurosurgeon has MD next to their name, just like the orthopedic surgeon, which is the person you want to go see. Cpas are the same thing. There’s generalist CPAs, there’s oil and gas CPAs, there’s real estate. There’s business, there’s all sorts Dairy farmer focused CPAs. I mean there’s all sorts of CPAs out there. You have to find the person that can really give you the best advice.
Greg Lyons: 12:41
And if you’re really interested in real estate, go ahead and find yourself a real estate-centric CPA. And if you need a recommendation or two about that, reach out to us. Tim at cityscicapcom or Greg at cityscicapcom, we would love to give you a recommendation. You don’t have to work with them, but at least have a consultation so you could say, oh okay, I should be thinking about this. Even if you do stay with your same person and I think financial advisors are the same way they don’t know about real estate, they don’t know about syndication and they can’t get paid from you investing in real estate. You’re always going to say no, or that’s not a good idea, or it’s too risky. And yes, on YouTube I just did some sweet air quotes, so that’s good and a total mess. But anyway, tim, number four we go to kind of a powerhouse in the industry. It’s the Bigger Pockets folks, josh Dorkin and Brandon Turner and they wrote a book how to Invest in Real Estate. And, tim, talk to the people about this one.
Tim Lyons: 13:42
So this book right here. If you guys don’t know Bigger Pockets yet, you have to Just check out BiggerPocketscom. They have forums on there with literally every question that somebody could possibly have about newbie investing in real estate. They have calculators, they have tons of books. Their library has increased like tenfold since I started following them several years ago. But how to invest in real estate the ultimate beginner’s guide to getting started right, and this is the book that really it made it tangible for me right when I read it I said to myself all right, there’s other people out there that have the same questions, that are going through the same thing. They need to know real estate investing one-on-one right To get the baby building blocks. So that book helped me to kind of get focused on the area in which I wanted to really dive into. So it’s a good how-to book to get started and kind of ways to groundwork for the different ways to invest in real estate.
Greg Lyons: 14:39
Yeah, and just more content, right. And the next book is one that kind of blows your mind a little bit, right. When you think of kind of a high net worth person, you think of doctors and lawyers, right. And I know everyone remembers episode 29 of the Passive Income Brothers with Dr Tom Burns and obviously he’s a doctor, but he wrote a book about why doctors don’t get rich and this is an eye-opening book because everyone thinks you become a doctor, you’re done, basically retire and the whole thing. But Tim, dr Tom Burns does a great job of digging in in his book why Doctors Don’t Get Rich.
Tim Lyons: 15:19
Yeah, dr Tom Burns has become an acquaintance of Greg and ours through masterminds and podcasts and whatnot. And, just like Greg said, from the outside looking in, if someone’s an orthopedic surgeon or a heart surgeon, they might have the nice car and the beautiful home and the perfect family. But on the other side of that there’s lifestyle creep and there’s keeping up with the Joneses and there’s also something called medical school loans, which could now balloon to several hundred thousand dollars on top of any undergrad stuff. So for the folks out there that are dedicating their lives to medicine number one, it’s a really incredibly hard job, right, it’s a lot of schooling. It’s a lot of to functionally do it, to think about it. Right, it does a burnout rate. It’s not always sunshine and butterflies, even though they make a great salary, right, and have potential to start private practices and whatnot. So there’s a couple of things in that book that I absolutely love. He was a guy that had a family, was an orthopedic surgeon, worked for the US Olympic ski team as their medical doctor. By all intents and purposes, he loved it, right. But he saw the surgeons around him that he learned from and they were miserable. They had miserable marriages. They complained. They just didn’t have the quality of life that he was looking for, and real estate played an incredible, incredible piece to building out some passive income while working as a surgeon. And he really takes you through the nuts and the bolts and the thoughts and how to make it happen. So I really recommend reading this book and it really, even though it says why doctors don’t get rich, he takes great pains in that book to say, look, I’m a physician, I’m writing it as a physician, but you can insert any profession into that title. Why lawyers don’t get rich, why firefighters don’t get rich, why whatever? And you could really use that to your advantage.
Greg Lyons: 17:02
Tim, that is going to take you well through your week-long beach vacation. I mean, that is quite a reading list right there. But when you get back from vacation and you’re working out or going for a walk or tuning your brother out or something like that, podcasts are a great way to do such a thing, to pass the time, to go on a. If you’re driving somewhere, you bore the family to death, but I think Tim used podcasts when he was going back and forth to the firehouse. He had a little longer commute and he used to call it University on Wheels the University on Wheels, that’s right. And so you could use podcasts not only for entertainment but to start learning about money and real estate. And I think one of the podcasts that really kind of got us going and into real estate was Get Rich Education by Keith Weinholt.
Tim Lyons: 17:54
This is still, to this day, my favorite podcast Besides the Passive Income Brothers podcast. Get Rich Education podcast is incredible, and Keith has an e-free e-book on his website Five Ways Real Estate Pays you. I highly recommend he does not spam you when you get a weekly newsletter, which is awesome, but download that book, understand it. It’s really short but it can really show you the power of real estate. But anyway, he has a tremendous story. By starting out with a foreplex in Alaska, he used that to build a substantial, substantial real estate portfolio. He’s just an audience for about 10 or 11 years, I believe, and he’s just an incredible human being. But he really breaks down the how to get started, the mindset, the X’s and the O’s. His guests are incredible, but I will tell you you may want to put it on one and a half or two X speed because he does speak slow, oh yes.
Greg Lyons: 18:51
Yeah, yeah, you have to speed that baby up. Where is this podcast? You probably listen on regular time, regular speed. You’re going to need to speed that baby up After you learned a little something from Keith, the guy that we had on the podcast recently. Chris Miles has a wonderful podcast called Money Ripples, and this is not exactly your 101 podcast. It’s a little bit more advanced. He’ll talk about whole life insurance. He’ll talk about a whole lot of different things, but what Chris gets across in Money Ripples is talking about hey, how do you escape the grind? And he was a former financial advisor that got out of that profession because he wasn’t seeing people meet their goals.
Tim Lyons: 19:36
Episode 78, ditch financial advisors and supercharge your wealth.
Greg Lyons: 19:39
That’s what Chris Miles on our show, but of course.
Tim Lyons: 19:42
Yeah. So money ripples, right. So if you picture if you were on a lake and you threw a rock into the middle of that lake, you would see the ripples coming through, right? That’s where Chris got his name for his podcast. But he says that our wealth should be a ripple that should affect not only us as human beings but our families, the way we live, our choices, all that stuff, right. So he was a financial advisor and he learned that whole other side of basically how to sell people on financial products and then get compensated for that, right. And he said that, you know, like the people around him, they weren’t independently wealthy, they didn’t have multiple sources of income, yet they were the financial gurus, the financial advisors, right. So, like, that really left a bad taste in his mouth and he literally left that to go on the complete opposite side. And now he helps people build out multiple streams of passive income through real estate, through debt, credit and car washes and self storage and all sorts of stuff. And he could really work with you to see where you are today and where you wanna go. But that podcast is super, super powerful.
Greg Lyons: 20:46
So, Tim, as you could see, or as our listeners can hear, we kind of follow a similar path as the books that we started reading with Rich Dad, Poor Dad, Cash Flow Quadrant. We kind of learned about money and how it works and how it can affect our lives in a positive way, Instead of just putting our head down and staying with the grind. And after we learned about money a little bit, you start learning about taxes. Same thing we did with books and with our podcasts. It kind of followed the same trajectory Learned about money, get rich education, money ripples, and then we jump into the real estate CPA podcast and it’s kind of following that same model of money and taxes and how does it affect the way you invest and the way you run your financial life?
Tim Lyons: 21:32
Greg, 100%. And when you have somebody break down taxes for you in little, little, tiny bites that you can actually understand, it actually makes it not painful at all and in fact, once you say, wow, well, that makes a ton of sense. Let me go down a different rabbit hole, let me explore it a little more. And all of a sudden you start to get educated and you start to be able to talk the language and learn the lingo for taxes and you’re not scared of it, you’re not apprehensive about every April 15th or October 15th or whatever. So I really really got a lot of content, a lot of education from the real estate CPA podcast early on in my journey and I am just so thankful there’s a podcast out there for that.
Greg Lyons: 22:15
And, following along with our book selections, our fourth book selection was from the Bigger Pockets family and our fourth podcast is called Bigger Pockets, and we talk a lot on this show about whether you wanna be a passive investor or an active investor, and the Bigger Pockets podcast does a wonderful job of breaking down all the different ways. You have to either need to be or have to become an active investor. Whether that’s fix and flips, whether that’s single family rentals there’s a million different ways to make money in real estate and we always say that, but the Bigger Pockets podcast does a wonderful job of showing you how to be an active investor.
Tim Lyons: 22:58
So, Greg, I, along with Keith Weinhold Bigger Pockets is probably my number two going back and forth to the firehouse and literally when I went down the podcast binge and I started at episode one, I went all the way back and I just crushed through material, I mean two X speed, and what I was hearing was cops, firefighters, nurses, teachers, stay-at-home moms, accountants, architects, lawyers, doctors, homers, cops. I mean there were so many people that were making it happen. They were doing fix and flips, they were doing single family rentals, they were doing note investing, they were doing owner financing, creative financing, wholesaling, commercial. They were doing small retail centers in their hometowns, Like and basically Bigger Pockets takes you through. How did somebody get started? What did they do? All these? It’s very similar to this podcast actually, but when I kept on hearing, I mean there was a red Robin waitress that had like 10 units and to me it sounded crazy because, being from the New York City area, I’m like you can’t own 10 properties in New York City or the surrounding counties as a waitress out at work. It doesn’t pencil, it doesn’t pencil right. So but if you’re in Kansas or Kentucky or Ohio, I mean there’s so many other markets out there that maybe homes are $80,000, $90,000 and they cash flow from day one, right so, like it was possible. So this podcast really opened up my eyes to what’s possible out there.
Greg Lyons: 24:22
Love that and it’s so true. The world is big out there. We all know that, but podcasts really kind of help shrink it a little bit and you can learn about so many different things. Tim, our fifth podcast is by a guy by the name of Adam Taggart and his podcast is called Wealthion Be financially resilient and Adam does a wonderful job. It’s gonna be a little bit higher level, but he does a wonderful job explaining markets and how it affects people and kind of really does these deep dives into what’s going on. It’s very current event focused, which is fantastic, cause if you read something you know Yahoo Finance, you read all you know Wall Street Journal, all these different things. You could be scared into not doing anything. But I think Wealthion does a really, really nice job of kind of breaking down what the current events are.
Tim Lyons: 25:14
I’m going to tell the listeners right now that I do not miss an episode of Wealthion every week. In fact, it would be something that would keep me up at night if I missed like one or two episodes. I go back and I listen to them and a lot of them I re-listen to and take some notes. He brings on super high level people, people that work in the Fed, people that are in the trenches, people that are macroeconomists, microeconomists, investors, hedge fund managers, pension fund managers, personal financial registered investment advisories. He brings in everybody who’s doing the thing every single day through this market cycle. They’re usually 40 to 40 minutes to maybe an hour and a half. They’re a little on the longer side, but I mean packed with information. Packed, packed with information. If anybody’s looking for a good current event what’s going on with the markets that is a great, great show.
Greg Lyons: 26:09
I think over the last few years I have become addicted to podcasts, whether from entertainment perspective, a real estate perspective, a money perspective. I think when you run into a good podcast and I hope, as you’re listening to this, you’ll include this in your great podcast list, but I’m not sure who said it. But they said a good podcast is an authentic conversation scaled. Tim and I could be talking at a meetup to 10 or 20 people in various locations. Tim’s been on stage and he’s talked to 800 people at a time. But that can only be scaled inside. That can’t be scaled outside of that room or conference center, right. But with a podcast this can touch so many people, our different lists, our different guests. They could touch so many people in so many different areas. We get emails all the time. They’ll say hey, I’m a long-time listener, love the content, let me learn more. I’m not throwing money at you necessarily as much as let me learn more about what you do, because I feel like I know you guys a little bit after being on every week.
Tim Lyons: 27:16
That’s right Podcasts and I think we’re just kind of in the early innings of podcasting. I think it’s going to be way more powerful going forward. No doubt, no doubt. Why don’t you take us through some of the newsletters and other resources?
Greg Lyons: 27:28
Yeah, lastly, after you read the books and the podcasts, sometimes you want to read a little bit more timely content. That could be take the form of a quarterly newsletter, a monthly newsletter, a weekly newsletter. We have a couple here that have been pretty influential for us. Number one in the newsletter realm is the lineman letter. It is a paid for newsletter. If you’re not going to shoot the padlock off the wallet, like I am usually not going to do, this may not be the one to start with, because the other ones we have are cheaper or free, but the lineman letter is a deep, deep dive into the real estate world.
Tim Lyons: 28:06
So Dr Peter Littiman is a University of Pennsylvania PhD economist who’s focused on real estate right. He wrote the textbook that multiple graduate level programs used to how to value and buy real estate right, so specifically commercial real estate. So he has the linen and letter. It comes out quarterly. I think it’s a thousand bucks a year or maybe even 1250 or something like that. I forget what we paid, but anyway, which is very painful, but keep going. That’s one of the ones I just paid for and then told Greg after it hey, read this. So it goes through the economy, the interest rate, I mean now that’s the current events, right, but there’s graphs as charts. It’s usually 130 140 pages long. It is tremendous. So I can’t say enough about the linen and letter.
Greg Lyons: 28:52
Yep, and I mean it’s long, but probably it is packed with information and just kind of really really helps us along with what we’re doing and what we’re investing in. So Tim newsletter number two is real page and once you tell the listeners a little bit about real page, yeah, so obviously you have to sacrifice your email address for some of this stuff, right?
Tim Lyons: 29:11
So you know real page has a paid analytics program for if you’re an active investor. But they also have a ton of free content, right? So if you sacrifice your email address, you can get a ton of real page analytics, the blog post, the newsletters, market updates, stuff like that so good quality stuff that’s on the free end, that you can at least get a flavor for what’s going on in the market, as these guys have their fingers on the pulse absolutely.
Greg Lyons: 29:37
And that leads us right into the third newsletter, and that’s the black knight newsletter.
Tim Lyons: 29:43
So black knight is a publicly traded company that basically they’re a data aggregator for, basically, mortgages, right. But from that data aggregation they can really tease out a lot of information about where’s the demand, where supply in the market, who’s doing what with the mortgages, who’s the link when. It’s a powerful piece of data.
Greg Lyons: 30:03
So they put it out monthly and it’s really a great free resource to check out another great aggregator of data is the folks at Mark’s and Milich app and Real estate focus. But, tim, take it away on Mark’s and Milich app.
Tim Lyons: 30:16
So Marcus and Milich app is one of the leading brokerage houses for commercial real estate in our country. They might even be international, not sure, but Marcus Milich out there like the Cadillac of brokerages, right. So they also do lending and advisory services for the commercial side. So they have a ton, a ton of information and they do webinars and they do newsletters and they have special reports and they’ll go through different asset classes. So I get their emails about multifamily, about Self-storage, about industrial, but they also have like retail and hospitality and hotels and they have all sorts of stuff. So you can sign up and kind of cater it to whatever you’re interested in and then they do deep dives on market and stuff like that. So a lot of great information again for free.
Greg Lyons: 31:01
And then the last newsletter we get is more of a weekly email and that is from Keith Wineholds and get rich education. He’s not going to be the deep dive but he’s going to kind of give you the current events, a little bit more 101 education. But he does a great job of kind of distilling it down with a story and Kind of tells you what’s going on. It has a couple links in there to educate yourself further on some things, but he does a really nice job.
Tim Lyons: 31:29
It’s not long but I love getting his emails on a weekly basis and he writes it all himself, right, he doesn’t outsource it, he writes it all himself. It’s really good. If you get to know him from the podcast, you’ll just immediately know that he’s the real deal. So we’re like. In closing, I just want to leave people with this. If this seems overwhelming, right, I’m not saying to do all of this today or all of it this week, but if you start somewhere right, and you build a little bit of a routine or a habit and what I would say is look, try to take in some kind of content every single day and for me, greg, it was a podcast a day to start and it was also 10 pages in the morning and if you could read 10 pages a day, get up a half hour, 45 minutes earlier in your day and get 10 pages of content in a day, that’s 300 pages in a month. That’s 3600 pages of content in a year. If the average book is 200 pages, you’re taking in an additional 18 books a year. And think about how that could positively affect your life, your education, the uncertainty that you can take out of the equation when trying to take action.
Greg Lyons: 32:38
So Two things about that last comment. Number one your public math was unbelievable. Okay, I’m not sure if you did that prior. I hope you did, but your public math was unbelievable, thank you. Number two, since this was the summer reading edition of the podcast, if anyone has any tips on how to get a 16 year old and a 13 year old to do their summer reading, I’m all ears. So again, greg at citysidecapcom Summer reading tips rives for teenagers. I am all ears, pal.
Tim Lyons: 33:13
Right, you need uncle T to make a special trip to Virginia to motivate some young people down there.
Greg Lyons: 33:18
Probably, the boy probably needs a little bit of motivation, and if I tell him uncle T is coming, it could work out.
Tim Lyons: 33:24
Love it. So listen, guys. If you could just take a few minutes out of your day and leave our podcast a five star rating and review, it would be hugely, hugely helpful to our podcast to get it in out in front of more people, to attract some high quality guests, and it lets us know that this is working right. The emails, the direct Messages on Instagram and Facebook and LinkedIn those are all tremendous and I love to receive that. I’ve had some great conversations from those things, but the five star rating and review would be very, very helpful. So that’s gonna do it for this edition of the passive income brothers podcast. We look forward to serving you again next week. Thank you for listening to another episode of the passive income brothers podcast. We would be grateful for your support of our podcast by giving our show a five star rating and review and Subscribing to our show on your favorite podcast platform. Don’t forget to take inspired action after listening to this show so that you can start building out your passive income streams. Finally, head on over to citysidecapcom To connect with us and find out more information about how to get started passively investing in real estate.