
Lab Coat Agents Podcast
Taking the founding principles upon which Lab Coat Agents was created; collaboration, sharing, & education of the best systems for maximizing lead generation & lead conversion, sharing tips & techniques to grow your business, and discussing the latest tech to help leverage your time...and re-purposing into the Lab Coat Agents Podcast! We are here to "explore the science of real estate."
Latest episodes

Aug 4, 2020 • 42min
Create a Self-Sustaining Business-with Dewey Golub-EP73
During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with Dewey Golub, a real estate professional who owns multiple businesses and enjoys a fun, active lifestyle. Dewey shares about the choices he made to create a business that is self-sustaining so that he can prioritize travel and enjoy spending time with his family. Episode Highlights: Dewey Golub began his career in marine biology. He was a divemaster that got into yachting and went from yachting to real estate. His main business is residential real estate but he also has a single-family investment business and a Matterport services company. Dewey tells the story of how he found his Matterport producer on Upwork. Dewey shares how he spends his year skiing and traveling with his family. When they travel, Dewey generally works for a few hours before his family gets up. Then in the middle of the day he'll take calls. He will then work for a few hours at night. Some real estate agents don't have the resources to live this kind of lifestyle. Other agents have the resources to enjoy this kind of lifestyle but don't have the time. Dewey started his real estate team because he was having his first child and wanted more freedom. A team can function as a communal leverage system. His team doesn't work for him, he works for them. He feels that his team could only feel negative about him if the team wasn't delivering on the promises they made. When Dewey built his team he started with a coach. He hired an admin first. His next hire was a buyer's agent he found on Craigslist. A lot of agents have a hard time letting go and giving tasks to other people. Sometimes you need to be disciplined as a leader and cut people loose when they're not a fit for your team. If you want to retain agents, create opportunities. Not everyone is built the same or wants to do the same thing. Dewey talks about how he approached the first few weeks of the pandemic. Dewey reflects on what he has learned about culture from studying teams around the nation. People with similar values gravitate towards each other. Not everyone wants to buy a Matterport, but everyone will have a need for that technology. He feels passionate about how to use content as the new lead generation and marketing platform in real estate. The opportunity to invest in real estate is right at your fingertips. 3 Key Points: If you want to create a self-sustaining business, you need a team of like-minded individuals to support you. The key to retaining agents is to create opportunities. People with similar values gravitate towards each other. Resources Mentioned: Lab Coat Agents website, Facebook, Facebook Group, Twitter, Instagram Dewey Golub Facebook, Instagram Email dewey@foundpropertiesgroup.com Found Properties website, Facebook, Instagram

Jul 28, 2020 • 48min
Multi-Family Investing-with Jake & Gino-EP72
During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with Jake Stenziano & Gino Barbaro about their successful multi-family investment portfolio. They share how they created financial independence in just a few short years by becoming real estate investors. Listen for tips for how you can take advantage of this opportunity. Episode Highlights: Jake Stenziano was in a corporate grind as a pharmaceutical rep when he saw the potential in real estate. He started getting mentored by Gino Barbaro and they began looking at deals together. They got a 25-unit deal and never looked back. Gino ran a family restaurant for 20 years. Everything shifted for him when his father passed away in 2008. He knew he wanted to create passive income to support his large family. Gino decided to pursue multi-family units for the cash flow, tax benefits, appreciation, and cycle resilience. Multi-family units address a basic human need. You just have to start. Once you start you have the clarity and you have the accountability. Jake points out that many times in single-family residential real estate the agent is a salesperson. It's different in the multi-family space. As the buyers they have to prove their credibility and why they're going to close the deal. Partnerships multiply and can help you blow things up a lot more. With multi-family spaces, start where you're comfortable. Economies of scale make multi-family attractive. As a real estate agent, you have opportunities to invest. The first thing that you need to realize is that the gold is in the assets. You buy, you refinance the money out, and then you continue to buy. As long as you continue to buy the game goes on because you keep accumulating depreciation to wipe out your taxes. Buy right, manage right, finance right. Many people start out with syndication. The way to be successful in any business is to think of yourself as a farmer. Plant the seed and take care of it. Jake reminds us that debt is a tool. Use that tool properly. They like non-recourse debt through agencies. The more you know about your potential investors, their goals, and how you can add value to them, the better. Time is on your side in multi-family. You don't lead with seller financing. You base your offer on the income approach. If the numbers don't line up, that's when seller financing can come into play. Negotiations are all about listening. Jake explains how they put together their initial down payment for the first deal. You can get in the game if you have between $20-50k especially if you have a partner. They typically do 2-3 deals each year. Look for properties that will bring you cash flow. Buy cash flowing assets. Buy right, know how you'll manage the property, and figure out where you're getting the debt from. You have an opportunity to create massive financial independence as a real estate investor. 3 Key Points: Being a realtor puts you in an excellent position to get started with real estate investing. Multi-family is a long game, just like any other business. The key to the game is to stack assets over time. Resources Mentioned: Lab Coat Agents website, Facebook, Facebook Group, Twitter, Instagram Jake & Gino website, podcast Email gino@jakeandgino.com to get a pdf copy of their credibility book. The Richest Man in Babylon (book)

Jul 21, 2020 • 1h 6min
Multiply Your Money-with Chris Naugle-EP71
During today’s episode, host Jeff Pfitzer continues his conversation with money expert Chris Naugle, co-founder and CEO of The Flip Out Academy, and founder of The Money School. In this episode, Chris dives deeper into his strategy for paying yourself first to multiply your money. Episode Highlights: Chris Naugle provides a recap of his first LCA interview, which centered on a banking concept created by the Rockefellers because they didn't trust banks. They used mutually-owned insurance companies as an alternative to traditional banks. When Chris asked what wealthy people were doing with their money, privatized banking came up every time. You can use mutually-owned insurance companies and a whole life insurance policy as a banking instrument. Wealthy people started using this system when they realized this was a place where they could put their money with a guaranteed return and a dividend. The insurance company uses their account to collateralize the loan and they never have to be paid back. Contractually the insurance company has promised to pay a death benefit upon your demise. They subtract the loan from the death benefit. The wealthy use this product to take an advance from their death benefit. With these plans, you'll have access within the first thirty days. You can pull this money out at any time and use it as you please. Ideally, you never have to pay that loan back. The insurance company will charge 5% interest. You still make 1.2% on money that you're using. Every year you are compounding at a higher number. You are using a standard whole life vehicle from a mutually-owned insurance company that is non-direct participating.The only way to access their general account returns is through this vehicle. They give up 60-90% commissions because of how these accounts are designed. Chris explains why banks have so many vice presidents. Rich people are not just magically good at investing money. They get giant death benefits paid back into their trusts to fulfill the desires of the next generation. This is a strategy that can work for everyone. Chris provides a detailed example of how he has personally used this system. The minimum to make this work is to take your age, times it by ten, and that will give you your minimum monthly. The advantage here is that this vehicle allows you to have your money while using it to make more money. Many famous companies employ this strategy. Chris shares how he will end up with a 40% cumulative return for the account he set up for his daughter. Will your 401k give you a 40% return? People don’t know about this because they haven’t been taught how money works. 3 Key Points: This system allows you to pay yourself first and then pay everyone else while still earning uninterrupted compound interest. The advantage here is that this vehicle allows you to have your money while using it to make more money. This system allows you to move your money around the way banks and wealthy people do. Resources Mentioned: LCA Marketing Center: LCAmarketingcenter.com Lab Coat Agents: LabCoatAgents.com Chris Naugle website, Instagram Episode 69 The Money Multiplier video Mapping Out The Millionaire Mystery free book After watching the video text "moneymultiplier" to 33777 for more information. Connect with Lab Coat Agents: Lab Coat Agents on Facebook Lab Coat Agents on Twitter Lab Coat Agents on Instagram Lab Coat Agents Facebook Group

Jul 14, 2020 • 43min
Just Keep Going-with Jennifer Seeno Tucker-EP70
During today’s episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with award-winning realtor, Jennifer Seeno Tucker. In this episode, Jennifer shares amazing tips for young agents coming up in their business, struggling agents looking to rebound, and team leaders who want to help their agents get past setbacks. Episode Highlights: Jennifer Seeno Tucker began her career as a physical education teacher then became an entrepreneur with her own preschool fitness business. She began her real estate career as a buyer's agent, working with her mother, a real estate veteran. Her daughter's father suffered a traumatic brain injury that changed their family life dramatically. She learned from this experience how to let go. Letting go of control helped her to see her business differently. After the tragedy, she began to focus on relationships and not just transactions. Take care of your mind, body, and spirit to bring your business success. Finding the right systems for you in your business can be a form of self care. Jennifer adheres to a Mediterranean diet. She found her ideal clients as she learned that people tend to work with others who are like them. She studied the DISC profile carefully to learn how to adjust her communication style to suit different types. Jennifer shares her approach to real estate during the pandemic. During the pandemic, Jennifer has shifted to virtual networking meetings. She even joined a new networking group during this time. Trauma can teach you that you need to keep going despite difficult circumstances. Jennifer was able to list ten houses during the quarantine and put four of them under contract. Trauma can teach you to prepare for the future and to focus on moving forward. Always know your numbers. Reverse engineer everything. Especially if you’re a new agent, focus on doing money-making activities on a daily basis. When she was starting out, Jennifer leveraged her time for money and initially went doorknocking even though she didn't like it. Being proactive created the momentum she needed to move forward with her business. She also created a weekly email to stay in touch with her database. There isn't a silver bullet. Get to work to create momentum. Jennifer still spends time cold-calling. She calls a lot of pre-foreclosures. When you're creating a vision, start with where you live, work, and play first. You can build and grow your business even if you’re working with a small network. When you’re struggling, don’t forget the basics. Scroll through your contacts list. Be consistently present in your Facebook groups. If you don't like social media, it won't break your business. But if you're looking for ways to grow and evolve, social media can help you. Just do it. If you sit on your couch nothing will come to you. What keeps Jennifer in the industry is not money. She loves connecting with people and helping them get from point A to point Z. Discover why you’re really in this business. Jeff explains how he builds relationships with people by using social media. The more you're seen, the more you're perceived as an authority. 3 Key Points: Trauma can teach you that you can keep going even when circumstances are difficult. Prioritize money-making tasks every day to move the needle forward in your business. Doing the work will create momentum. Start somewhere and keep showing up. Resources Mentioned: LCA Marketing Center: LCAmarketingcenter.com Lab Coat Agents: LabCoatAgents.com Jennifer Seeno Tucker website, Facebook Text Jennifer at (516) 361-2568 Become A Rock Star Real Estate Agent book Connect with Lab Coat Agents: Lab Coat Agents on Facebook Lab Coat Agents on Twitter Lab Coat Agents on Instagram Lab Coat Agents Facebook Group

Jul 7, 2020 • 43min
How Wealthy People Manage Their Money-with Chris Naugle-EP69
During today’s episode, host Jeff Pfitzer speaks with money expert Chris Naugle, co-founder and CEO of The Flip Out Academy, and founder of The Money School. Listen in as Chris introduces his strategy for paying yourself first, and why now is the perfect opportunity to get your finances together so you’re prepared for the future. Episode Highlights: Chris Naugle shares how his personal journey involved a professional snowboarding career, work as a financial advisor, and real estate investing before he became a money guru. His journey really began when he found out he was over-leveraged and lacked the knowledge he needed. Chris shares more about his history with snowboarding. When Chris was a financial advisor, he was taught how to be a great salesman and how to manage money in a way that made the most money for the firms. He started investing his money that way. We are taught to give up control of our money. Wealthy people know how to move money the way a bank does. Wealthy people change where their money goes first. Pay yourself first and put it in a place where it never stops working. Then pay everyone else. Chris teaches us about the principle of uninterrupted compound interest. The Rockefellers discovered that the strongest financial institution where they could put their money was large mutually-owned insurance companies. When you put money into these insurance companies' general accounts, you get the returns guaranteed by the insurance company at a rate of 4% as well as dividends. Chris shares how you can get your money into these general accounts. You can use a whole life plan as a gateway into the insurance company's general account returns. When you put your money into this vehicle, you immediately can take your money back out. Chris shares how you can learn more about this as a banking strategy. Chris shares the limits of these benefits. 3 Key Points: We are taught to give up control of our money and can take back that control. Pay yourself first and put it in a place where it never stops working. Then pay everyone else after. We need to learn how wealthy people move and manage their money then replicate their strategies. Resources Mentioned: LCA Marketing Center: LCAmarketingcenter.com Lab Coat Agents: LabCoatAgents.comChris Nagle website, Instagram Bauer Financial website The Money Multiplier video Mapping Out The Millionaire Mystery free book The Private Money Guide free book Connect with Lab Coat Agents: Lab Coat Agents on Facebook Lab Coat Agents on Twitter Lab Coat Agents on Instagram Lab Coat Agents Facebook Group

Jun 30, 2020 • 49min
Demonstrate Confidence-with Bill Kurzeja-EP68
During today’s episode, host Jeff Pfitzer speaks with Bill Kurzeja, owner and founder of Professional Success South. In this episode, Bill teaches us how to gain confidence as real estate professionals so that we can demonstrate that confidence in business. Listen to hear great insights into how knowledge creates confidence and confidence creates trust. Episode Highlights: In high school, Bill Kurzeja felt shy and awkward. He became a mechanic in the military and that forced him out of his shell. He applied the discipline he learned in the military to the automotive industry. Fifteen years later he wanted to make a change. He found his passion was training, coaching, and leading people. We gain confidence through our knowledge. Bill and Jeff discuss Bill's success as a runner and his journey to become a triathlete. Bill hired a coach to help him train for triathlons. Physical activity brings him mental clarity. Being healthy is foundational to building success in the rest of your life. You can be driven by competition with yourself. We are never too old to accomplish what we put our minds to. We shy away from the term "sales" but in reality, we're selling ourselves all the time. You gain confidence by learning how to communicate and how to listen. In real estate, you need to learn everything about the neighborhood you're selling in. You need to know everything you can about the area to speak with confidence. You should know the market data but that won't differentiate you. Realtors should own how they communicate with their clients. Many salespeople want to talk about themselves. It's important to make your client the focus. Practice and use roleplay to get comfortable with new conversations. Own the focus that it's not about you, it's about them. Help people you’re talking with to feel safe. The anatomy of a sale begins with the interview. Take your time to learn what the people you are talking with are looking for and determine their needs. You don't get opportunities to sell houses unless you sell yourself. Sell yourself in the beginning just by being yourself. When you promise something, deliver right away. Set the proper expectations from the beginning in the way you communicate. Bill shares how he approaches realtors who don’t see themselves as sales professionals. You just want to be their go-to all for all things real estate. You can't ever stop getting better. You must continue improving. Follow your passions. When you do something you love and enjoy, you get to be who you are. You can deliver content about your passions. 3 Key Points: As you acquire knowledge you can acquire confidence. Having confidence will allow you to own the way you communicate with clients. Remember it’s not about you. Always focus on the people you’re serving. Resources Mentioned: LCA Marketing Center: LCAmarketingcenter.com Lab Coat Agents: LabCoatAgents.com Bill Kurzeja Facebook, Instagram Professional Success South website, Facebook, Instagram Connect with Lab Coat Agents: Lab Coat Agents on Facebook Lab Coat Agents on Twitter Lab Coat Agents on Instagram Lab Coat Agents Facebook Group

Jun 23, 2020 • 57min
Become a Person of Interest-with Coach Micheal Burt-EP67
During today’s episode, host Jeff Pfitzer speaks with Coach Micheal Burt, a championship basketball coach who pivoted to a highly successful career in corporate coaching. In this episode, Coach Burt will teach you how to become a person of interest to take your business to the next level. Episode Highlights: Coach Micheal Burt began coaching basketball teams in his teens. He spent a decade building a national championship program. He began reading mindset books at a young age and was highly influenced by the work of Stephen Covey. He realized he could coach every day and fulfill his financial goals by pivoting to business coaching. The average American might not understand why they should invest in coaching. The success of coaching depends not on the mentor, but on the mentee. If you want to learn something, it's your responsibility to extract as much value as you can. Coach Burt would never show up to a coaching session without being prepared to extract information. He makes up his mind what he's going to get from a coach and gets that thing. A good coach will help you find and feel your missing structures. His life's work is about helping people get to the next level. To get better at things, you must practice and put in the work. When you're at a conference, put yourself in the position to learn something. You could see Coach Burt speak, but it's hard for him to change your behavior unless he spends time with you. You need to have an affinity with the person coaching you. Ask who gets your attention and what they do. Look at who else your coach has coached. People of interest have credibility indicators. If people don't know how good you are, then you're a secret. You can't sell a secret. Coach Burt helps people tell their stories, explain their value, write books, make videos, and host events. Coach Burt uses the books he's written as business cards. Put things out in the market that indicate you're doing big things in the world. Coach Burt watched his wife's confidence increase when she wrote a book. People of interest have specific knowledge. People of interest have impeccable skills. Make an effort. Most agents do not prospect enough. You need to be prospecting a minimum of two hours a day. To be a person of interest you need confidence. His book Single Digit Millionaire is about how to find your primary skill so you can make more money with that skill. Once you figure out what your primary skill is, then figure out who will pay you the most for those skills. Define your audience and then figure out what it is they want and need. 3 Key Points: If you want to learn something, it's your responsibility to extract as much value as you can from the teacher, mentor, or course. People of interest tell their stories, explain their value, write books, make videos, and host events. You need to be a specialist, not just a realtor. Define your audience and meet their needs. Resources Mentioned: LCA Marketing Center: LCAmarketingcenter.com Lab Coat Agents: LabCoatAgents.com Coach Burt website, YouTube, Instagram Take advantage of Coach Burt’s free top-selling books at coachburt.com. Single Digit Millionaire (book) The Seven Habits of Highly Effective People (book) Person of Interest (book) The Accountable Church (book) Small Towns and Big Dreams (book) Living with a Monster (book) Monster Publishing Retreat Connect with Lab Coat Agents: Lab Coat Agents on Facebook Lab Coat Agents on Twitter Lab Coat Agents on Instagram Lab Coat Agents Facebook Group

Jun 16, 2020 • 51min
Content Converts-with Mike Cuevas-EP66
During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with Mike Cuevas, a former realtor who is now a content creation and marketing expert. Mike shares why content is the future of marketing, why it’s important to build an authentic brand, and how to define your video strategy. This episode will give you a new perspective on how content leads to conversions. Episode Highlights: Mike is no longer selling real estate. He sold from 2002-2019. He never sold through prospecting. He has always focused on content creation. In 2002 he started compiling a list of people he knew and then started a direct mail campaign to farm them. This helped him generate business. Mike speaks to the importance of being memorable regardless of which marketing strategies you’re using. He rebranded three times in his career. When he felt burned out on selling homes, he shifted to marketing. Mike speaks to the importance of feeling confident and excited about what you do. Authenticity is all about finding who you naturally connect with. Mike tells us about the "dude" aspect of who he is that has carried across his various brands. Nobody hires you for what you do, they hire you for how you do it. When you ask how to build a better relationship, the answer is to stay in better communication. Everyone has a brand. Your brand is your spitting image. The seller will hire the person they relate with more. Building your own brand is a recession-proof business model. Build your brand by communicating consistently to the same audience over time through various channels. The only thing that keeps your name at the front is consistent communication. When we create media, it's about reminding our network that we're in real estate. The difference between being a salesperson and a business owner is how you view your database. The first thing Mike does with clients is to help them figure out a video strategy. Ask if you want to create a community or talk about real estate as you plan your video strategy. You don't have to talk about real estate in your videos. Your branding will remind them that you are in real estate. You're the digital mayor of your town. Become the real estate expert. Video gives you authority. There's no magic formula for social media other than engaging and consistently posting. Video combines tone, body language, and authenticity. It is an incredibly effective way to communicate. Find your content pillars and then it will become easy to talk on camera. One of Mike's services, Flip This Agent, is a complete rebranding service. Mike’s company scripts, edits, and distributes your videos for you. Content is the future of marketing. Many people will hire a videographer to create videos but don't give them the story or create an end goal. Videographers need guidance. While you can implement these strategies yourself, Jeff is finding that many people prefer to hire a service. Mike describes his virtual presentation service. You can leverage education-based content to attract leads. People go to your website to see if they like you. For this reason, Mike has a video on every page of his site. In the eyes of the public, the realtor who has more content is better qualified. 3 Key Points: Creating content allows you to build and maintain relationships through regular communication. Video is an extremely effective way to communicate. When you create video content, you give yourself authority. Your content does not have to be about real estate to remind people that you are in real estate. Resources Mentioned: LCA Marketing Center: LCAmarketingcenter.com Lab Coat Agents: LabCoatAgents.com Real Estate Marketing Dude website, YouTube, Instagram, podcast Connect with Lab Coat Agents: Lab Coat Agents on Facebook Lab Coat Agents on Twitter Lab Coat Agents on Instagram Lab Coat Agents Facebook Group

Jun 9, 2020 • 50min
Why You Need a Virtual Assistant-with Bob Lachance-EP65
During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with Bob Lachance, a remote hiring expert and the owner of REVA Global. Bob shares the top three tasks a Virtual Assistant (VA) could be doing for you right now, three reasons to use a VA for transaction coordination, and why hiring an assistant is the key to scaling your business affordably. Episode Highlights: After an eight-year professional hockey career, Bob Lachance became a realtor. He did not finish his college degree because he was offered a contract with the NHL. The first deal he did was a rehab property. He realized quickly he had zero systems and processes so he joined the local real estate investment association. He then jumped into short sales. In 2005 he jumped into the backend of a coaching program. Then they started a large coaching program on the investment sale. Bob recognized that many investors wanted more time in their day. In 2013 he learned about virtual assistants. He hired his VA to build a buyer's list and to bring in leads on the selling side. Realtors can offload many time-consuming tasks to someone else and get their lives back. One of the top reasons realtors hire VAs is lead generation on the front end. The other main reasons are consistent follow up and transaction coordination. Every day in Connecticut there's a new pre-foreclosure list that's provided, and Bob’s VA goes through those and tracks them. Most of the time there's a phone number attached to that client. This can also be done with probates, tax liens, evictions, and code violations. Figure out the system in your state if you want to follow this strategy. As an agent, Bob is beating the banks and the courts to the foreclosure and trying to sell the house to clear the seller of the black mark. REVA provides a whole month of training on tasks that real estate professionals do. Bob describes how he creates training videos for VAs. Always remember that a VA is a human being. Have realistic expectations. Look at your calendar. Jot down each task and document how long they take you to complete. Then your expectations can be met. In the Philippines, there's a twelve-hour difference. They work the night shift. Bob shares why he chose the Philippines for his business. They have a neutral accent and place a high value on education. A full-time VA through REVA is $9.60/hour with no hidden fees. For part-time, it's $10.60/hour. This is competitive pay for them. An assistant with a four-year degree in the U.S. costs an average of $48k per year. They use VAs for follow up tasks because they see more closings when the human touch is involved. Teach your VAs how to use the CRM as well. Many of the virtual assistants on their team do transaction coordination. Hiring a VA to do transaction coordination saves you time and allows you to focus on income-producing activities. VAs also can be used for brand-building activities. Bob describes what his VAs do for their clients on social media. They post every day. They edit video, create content, and more. Remember that hiring a VA will allow you to scale your business affordably. 3 Key Points: Virtual assistants can be trained to focus on lead generation, follow up, transaction coordination, brand-building, and more. Hiring an overseas VA will often save you money, making scaling your business more affordable. Hiring a VA will allow you to take back your time so you can focus on what matters to you. Resources Mentioned: LCA Marketing Center: LCAmarketingcenter.com Lab Coat Agents: LabCoatAgents.com Bob Lachance LinkedIn, Facebook Contact Bob at bob@revaglobal.com REVA Global website Rich Dad Poor Dad (book) Friday Coffee Break Connect with Lab Coat Agents: Lab Coat Agents on Facebook Lab Coat Agents on Twitter Lab Coat Agents on Instagram Lab Coat Agents Facebook Group

Jun 2, 2020 • 48min
How to Stash That Cash-with Chris Kawaja-EP64
During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with investment guru and author, Chris Kawaja. Chris shares his ideas about how to create a better financial strategy, how to think about where you should invest, and how to identify opportunities that will help you create wealth. Episode Highlights: Chris Kawaja was born into an entrepreneurial family. When he was seventeen, he left home to attend Stanford where he studied economics and psychology. He worked on Wall Street and attended Harvard Business School. He has a broad base investing experience. He was trained under legendary investor Ray Dalio, at Bridgewater, out of business school. The most important lesson he learned from Ray was how hard it is to be honest with yourself and honest with other people. Chris advises that we should not overreact today. We make investment mistakes when we’re emotional. Do less and think more. Take the time to reflect during this time. Investing doesn't always reward us in the same way as other activities. The time you most want to buy is when things are falling to the floor. Chris is in favor of having independent streams of income. For his real estate investing, Chris gets his income from different geographies. He also invests in different industries. There's a balance between getting better at what you're doing and also diversifying. As you think about where to invest, it’s important to know yourself. Ask yourself what kind of investment is going to be a great fit for you. Make sure your first deal is idiot-proof. Chris describes the two models he used for leveraging land at the beginning of his career. Chris provides an overview to The Ultimate Liquidity Portfolio, which he created when he saw friends and family experiencing hardships during economic shifts. High-yield savings accounts tend to lose money after taxes and inflation. Stocks are the other extreme. Using the ULP, you invest 88% in intermediate-term treasuries and 12% in the total stock market index. This is a portfolio that preserves money better than stocks, better than cash, over numerous periods. This strategy isn't for retirement investments. It's effective for your middle bucket of cash. As you think about the rest of 2020, have a plan and stick with it. Now is the time to be turning over a bunch of rocks. You will learn in the process. When there is a change like this, write down the changes you're seeing in the world. These are signals for what's changing in the world that will give you a broad intuition. Chris posts on his blog every few weeks on investing and real estate. His most popular product is his weekly newsletter. Chris reminds us that real estate will always be a great business. Keep going back to the intersection of the things that interest you and the things you can make money at. Chris shares what he’ll be doing next. Jeff and Chris discuss the risks involved in multi-family units in the current market. 3 Key Points: This is a great time to reflect, learn, and seek out new opportunities. When considering investments, know yourself. Pick the kind of investment you like. There are many opportunities and it’s always a great time to be in real estate. Resources Mentioned: LCA Marketing Center: LCAmarketingcenter.com Lab Coat Agents: LabCoatAgents.com Chris Kawaja LinkedIn How to Stash That Cash (book) How to Stash That Cash website Ray Dalio Upwarding blog Connect with Lab Coat Agents: Lab Coat Agents on Facebook Lab Coat Agents on Twitter Lab Coat Agents on Instagram Lab Coat Agents Facebook Group