We’re talking to Ryan, he’s one of my, accredited investors, been in a bunch of deals with me. he came down to the hui mastermind retreat in Honolulu, Hawaii last year. once you give us a little quick take on, what did you like about it? and then, , I’ll give you the big news man.
. So I loved it last year. I can’t wait to do it this year. So basically these people, I could relate to them a lot more. They were all hard workers. They understood the long-term play. , they had the capital to up, what they wanted to do. everyone in their group had their own little experiences and experiments going on.
So some people that are looking into tiny homes, some people are, looking maybe into, office space. Some people are doing, still single family homes and others are doing syndications. So you get a very broad range of what everyone’s doing. and it rarely intersects with, exactly what I’m doing.
I would be doing like for instance, of what I brought to the table, last year was I had just gotten into an Island syndication. so I wanted to bring details to everyone there and you can share your experiences and people can ask you questions that you may have not have thought of. And, because they have that experience as well.
Yeah. And that’s the thing, folks like our group is I think the only group out there that’s pure passive investor groups, most real estate. I actually, I stopped going to real estate conferences because I started to realize they’re all fake either. They’re trying to sell some gurus $30,000 course, or they’re just a bunch of newbie syndicators trying to get into game.
And, yeah, just. On some podcast or something like that. I noticed that this was an experienced group. a lot of them had already been in, some syndications. some were good, just getting started off, which is fine too. but. got help on both ends, so I could see what others were doing from the get-go.
And I realized that they had capital, they had, the desire to just be passive. and then I saw, obviously people ahead of me who had been doing it longer, who had been in more deals and I could peek around the corner and see what I should be looking out for what’s next. and that’s mainly what I like.
I like to get that notion of what’s next. and how to look ahead. I’ll be doing the same thing. We’ll be filtering investors. And only those who meet the certain criteria of your passive investors will be getting into this year’s event. But I got some bad news, man. What’s that? you’re not going to be able to, come to Hawaii this year because the, all that’s been going on, the whole pandemic thing.
So you just want me to come. no, not you and everybody else are going to need to stay at home and attend this thing virtually, but yeah. How is that going to work? , I’m in a bunch of other masterminds and we are all, things I paid 25 grand I’m in a few of these and I’m taking the best practices from those events.
the reason why I spend that much money to go to those types of events. And I’m sure why you came to Hawaii was so that you could build a relationship with other people. so I seen ways to do this virtually right, using a lot of zoom breakout rooms, but I have a lot of work that I have to do to bring the bright people in, ask people the right questions to curate the right speaking slots as we go around this event.
Okay. It will be virtual this year, Martha Luther King, January, , there’ll be probably a couple of days, no more than six hours a day, in the first half of the day, since I know how things are hard. And this is what’s nice about our in-person meeting, that we won’t be able to do.
As you get to detach and it’s, it’s, it was the time at the bar. It was the time hanging out. That was the cool time. But we’re going to try and mimic this as much as possible. And I would say like most online events search it like death by speakers, A bunch of power points, but the majority of the interaction is going to be, you guys are going to be talking to other members, either on a one-to-one basis like this, or in a small groups.
no more than 12 people in a group. So you’re going to really get to know each other personally. I like that, I think. Yeah. Okay. So you’re going to have breakout rooms with smaller groups of people. I think that’s going to increase the focus as well. I think it’s easy to get caught up in trying to talk to everyone when there is like a larger group at a big table.
I noticed that. So I think it is, that is going to be helpful. Yeah. And that’s the hard thing about even in-person events, right? Like when you. And most of us in our group are introverts. You’re at your ranch for right to, I want to be, yeah. Yeah. you’re an evolvement shiver. So what I noticed being an introvert too, is like, when you find somebody cool to talk with you just spend a lot of time with it.
And you don’t talk to everybody else. So these breakout rooms, common to , facilitate them is going to be cool because. going to give you enough time. You don’t have 10 minutes to interact with somebody, get a good vibe, see if you want to interact with them again in the future.
Take that content, but it’s also going to maximize your time so you can interact with as a lot of people in this that’s okay. That’s true. I think it’s gonna, it’s obviously I think it will be, so how will it be organic? Like I think, in person you It would just be like randomly, you would meet some people and see if you would connect with them.
how is it going to work here? Are there going to be like groups that you choose to be in or they’re going to be focus groups or, yeah. So I’m going to do a little bit of random, matchmaking for sure. But for the most part, I want to give people somewhat of a guideline of what to talk about instead of just pop you guys into a group, because that’s a little awkward, right?
here is the start of the, family office, Ohana virtual mastermind, the bubble of 2021. This is what I’m going to call it. I’ve got, I’m starting to build a list of different topics here. This list will obviously grow as the weeks go by as we get closer to the event. But there’s very common topics that I see coming up, right?
the guy who has a high net worth doesn’t have very much liquidity, but has a lot of money in their home equity or their 401k. Are they taking money out of their 401k slowly. So that unique it out. So their AGI doesn’t come up over $300,000. That was something we talked about this past year that I would say half of the people in the Roman, I’m sure half of the people in the virtual mastermind are having the same issues.
So getting those people together and for those people who don’t have those issues, we’ll put them in another group for general networking, Or infinite banking. I don’t know if you’ve set yours up yet, that was a big thing for a lot of people, hardly setting that up and everybody has a different situation in terms of net worth, how many kids they have, where they are with a career, what is their liquidity look like?
How much money do they net at the end of the year. And what do they want to deployment strategy for investments are going to be, so what I, when people sign up and they apply, one of the biggest thing is I’m going to have a long, pretty long intake form. So that I know where everybody’s net worth their liquidity, what problems they’re having.
So that when we go to the itinerary, I can match people up specifically in the right groups or with the right people. That makes sense to, yeah. That’s going to be really helpful. It’s going to take a lot of planning. Yeah. That’s a lot of work on your end. there’s a common amount of problems and issues people have.
And for example, infinite banking, there’s some experts in the crowd. There’s some people that have never heard of it. The experts I’m going to hook up with, I’m going to have some people at my current mastermind to play elders and bring up some people with that are in the middle.
But I’m going to jump to the breakout room with the complete newbies and teach it from the start. So this will this format will continued throughout the weekend. Okay. Yep. That we might even do a little bit of a Texas hold on. This is a fun game or something like that.
That’d be awesome. I think games are, I was going to say like the activities and the games, especially in person last year, that was, those were great. that really helped start talking to people and just. Feel people out at least, in terms of not just real estate, but just in what type of person they are.
Yeah. it’s going to be a super sleek use of Google documents. And because one thing I can do is you have your, you’re just totally random networking and you have these more specific itinerary based, topic discussions, but in the middle, you have this form of. maybe there’s different breakout rooms that people wanted learn about or talk to other peoples in the peers.
So I can build a Google document with the breakout room, breakout one and rename it to, 401ks breakout to rename it, to taking money out your retirement account, breakout three to, legacy planning. What are you doing in your ear? Revokable trust or trust? What kind of caveats that you’re putting in there?
Who wants to talk about oil and gas or land conservation Eastman’s right. And just a general hallway. Yeah. I think like that, to your previous point, that was important for me is like tax strategies. since, I’m single, I don’t, there’s no kids, so it’s, I don’t get a whole lot of tax help.
those were great strategies for me last year. And I’d really like to see and check in, what have people been doing or out about them? Did anyone go for it? I know that we were still researching oil and gas last year. and then obviously, yeah, the hallway too. I think it might be good to force people to rotate into the hallway every so often to just relax and take a break from learning and, absorbing information at least.
Yeah. and in the new version of zoom right now, you have the ability to navigate yourself through the breakout room. So if you’re not, if something’s not working for you, you can move around wherever you want or leave that option open for people. But, going back to the taxes, right? Like the using real estate professional status, 750 hours with active participation and using all these passive losses, you’re getting via costly innovations and bonus depreciation for this deals.
you understood it, right? you’re there in person, you got the concepts. So what we would probably do for you now is puts you in a group of the experts, That get it. And you guys have passive losses to use. and then, puts you in the people that are on the same level.
So you can guys can talk shop. I might stick with the new people and teach them this concept of this simple passive cashflow gravy train as I’ve trademarked it. Yeah, because that was me. that was me last year, actually. I had no idea about it. I’d never heard of these things. and so I was new and now that I know about it and I’ve actually been looking around, it’d be great to even get more information about people who’ve already done. we’ve got people in the group have gotten short-term rentals to let this, enact their real estate professional status.
They can offset their passive losses . to the ordinary income, you, my friend are single, so it’s going to be hard for you to do it, but we’ll connect you and maybe the other single people too. Even if they’re not single, it’s still, I think it’s still useful. I think, yeah, I can still find relatable people.
And again, the big part for me is probably, I guess the hallway, it might be helpful to have a room to just talk about. Like a general room. there’s no forced topic, but it’s also not like a hallway where you just kinda hang out and talk about like the weather. I don’t know, but really a big part, a big draw for me is, like hearing, like for instance, I think, one person was doing like Airbnb’s, with tiny homes and I was like, that’s awesome.
And he was just wrapping it up. So I’d love to connect with him again and say, Oh, how’d that go? how’s it looking now with COVID, things like that. Yeah, and I’m going to be going out to certain members on specific topics that they’re doing like that. And they can need a breakout room also.
that way they can work their membership or their admission rate, a little bit lower, on a scholarship. So that’s a big thing I’m doing in the family office. Ohana is I’m having people join up for another year or more senior kind of helping the event go. So it’s just not me doing it all.
we’re going to have definitely had helpers here, but like more facilitators too. I’m hoping to that also, we’re trying to build this community here of high net worth the credit investors to on the road to financial freedom. One thing I’d also like this year is, I’m not married, but I, I do have a girlfriend and she wants to get into real estate.
she likes the idea of like mailbox money, passive income. that’s why she has you, man. plenty right there. You just go to work every day.
yeah, maybe it is, but, she, that’s an ordinary, I am, it’s more passive on her part. but yeah, I, I think it’s beneficial here. do you think there would be. for people who do have spouses or significant others, are there going to be rooms for them or can they join?
that’s a great idea and what I know I’m going to do is we’re going to have a topic called reluctant spouse syndrome. where I’m going to give the high level very quick presentation. But again, the format of this thing is to break out into a room to talk story.
Get best practices from the other members. I’m going to pull people in and find those people in the group that have gotten their spouse over the hall. And from that means they maybe talk to them for 2000 hours and they finally get it. Or they found some kind of quick, medium, right?
Like me, I don’t have my spouse co-sign any of my documents because I don’t want to waste my time. Every single time I do this. So I found the happy medium, but it’s different for everybody. And I think in that situation, you’re going to be able to talk to people who have gotten over the situation, or you got in, going through that heart struggle with, your significant other going through it.
we’ll probably allow maybe that might be a good evening time event for. We have the spouses join us and they can interact with the other spouses too. when we did the in-person thing. There were a few couples that came, that brought their, a reluctant spouse along because it just happened to be in a boy and they got shipped people to Hawaii.
when they met a lot of the other investors such as yourself and they got it right, they saw how are very, High level group, did this, and it wasn’t just about making money. It was about from creating a legacy and wealth building audit.
And I think that to have the spouses come in and interact, mix it up with the other spouses and folks like yourself, I think that’s bold. And we’ll definitely try and do stuff like that. Great. Yeah. that’ll help because right now, she only hears me talk and so I think it’s.
It’s refreshing to maybe get her some more exposure in terms of more experienced people. Other people are also getting there. yeah. that’d probably be the good cocktail event for sure. Cool. . Any other questions, man? I think this can be a super fun event. Martin Luther King weekend. So you’ve got that Monday off. Okay. But we’ll probably do it on the Saturday and Sunday and the first half of the day. Awesome. Awesome. And then how are you going to, cause typically like when everyone was in Hawaii, you had, everyone was in the same time zone.
So how are you going to coordinate everyone to be together when they live. in different areas. I’m going to suck it up and try and wake up extra early and I’ll be started at like really early, just so that we can stay on that first half of the day for you, for yourself. I think most of us are in the mountain or Pacific time zone, centrally located.
So that kind of started in the morning and then go to a little bit after lunchtime. But so you have the time to do whatever you need to do for the rest of the day, but I think it is important to Break away from your normal day to day in immerse yourself. That’s the big thing is immersion.
yeah, I think it’s cool this time with that, you don’t have to get on a plane, and go, and what I’ll probably do also is build an itinerary of these different topics that we are talking about. so if something doesn’t pertain to you or you want to cherry pick, you got to go do the laundry or something.
You gotta run Aaron. Right? Mr. Ordinary income, man, you gotta do something. I gotta go look at work stuff. Yeah. You gotta go do work stuff. You can cherry pick when you want to do that. So you don’t miss out something that you really want to learn about. And that’s huge. That is. Yeah. But I think when people realize that quality of people in this group.
if they haven’t already, they’re going to see they’re going to, their eyes are going to really open. Just like how yours when you came down? Yeah, that was huge for me. I think that’s when it became really evident that you’ve put a lot of work in, into creating a group and it’s yeah.
it’s, everyone wants you to win and everyone’s on a team together and everyone’s going to help you out. yeah, it’s a great group. , I’m going to do my best, trying to filter the right people into the group. There’s always a chance. Not many people make it, get past my filters, but I think this is where I’m going to go past you.
You’re going to make it in. You’ve been around a while. I know you personally, I think this is where I rely on like immediate, right? We all need to be watchdogs, potentially a bad actor or a shady character who could come in. Could infiltrate the group. But for the most part, everybody are pure passive investors.
They’re all working to build their own personal family office and it’s more of an abundance mindset. That’s what I found in competitive. Yeah. we’ll, send this out to folks and, hopefully they learned from your good questions. You gave me a good one. That was good.
But any last words, my friend, that’s all I got. Thanks a lot, Lane.