The Stock Market Is Rigged and Your Portfolio Proves It

Mike DeHaan: [0:01] What's going on, guys? Welcome to collecting keys. I'm Mike DeHaan here with Dan Austin and Dylan Cook, and we're bitching about taxes today. Because by the time this comes out, is it gonna be the fifteenth? Yeah. Yeah. It'd rather be close.

Dylan Koch: [0:12] It'll be, like, the fourteenth. It'd be

Mike DeHaan: [0:13] the day before. So it'll almost be tax day, which is a super fun day if you're a business owner. And you get that email from your accountant that for some reason you check the first thing you wake up at 05:30AM, and you go, what the fuck? So that was my experience last week.

Dan Austin: [0:31] Yeah. My I got the text early in the morning.

Mike DeHaan: [0:33] Yeah, dude. I know. I'm I'm like, I'm just not checking email early anymore because I just put my day in a stupor. Tell you what. Goddamn. It's so Everyone always says, like, that's a great problem to have when you get, like, a big tax bill. No. It's not. Like, the problem is is, like, if you're not fully anticipating it, it still hurts. It's still like a big check you're having to write if you've done it all for yourself.

Dylan Koch: [0:52] But I've never paid quarterlies either. So it's always like the final bill at the end. The end of the year.

Mike DeHaan: [0:57] Yeah. I'm never not gonna pay quarterlies again because it hurts. Like, it's dumb, and it's so easy to actually get over your skis. It is. And the challenge with it is like, yes, if you pay quarterlies, you might overpay. Right? You have, like, opportunity cost, not money, whatever. But if you look, like, big picture, realistically trying to kinda, like, game that system if you're trying to avoid quarterlies, I would bet for people that have a growing business, it is poor opportunity cost to be doing that versus just making more money and just paying them and just not worrying about it. Like, honestly.

Dylan Koch: [1:31] I mean, there was a time two years ago. I think it was my 2024 taxes where I was doing like this big flip, but I was self funding the rehab part of the flip. But then at the same time, like, the taxes were due. I didn't have that money, man. Like, I needed I needed that that to come back. And I'm just like, oh, shit.

Dan Austin: [1:46] That's the scary part about it.

Mike DeHaan: [1:47] Yeah. I mean, I didn't. I had to sell a handful of my my Bitcoin that I've been buying. I had to sell out a bunch of stuff. I to move a bunch of money money around. But the point is, like, there's I still have the ability to get it. It's just that I wasn't expecting, you know, the final tax situation and that that's that's shitty. So the conversation, you know, Dan and I have been having is, like, all of a sudden, we're gonna turn on what we've been talking against for the last few years. I'm like, well, maybe this Airbnb thing makes sense because you can use that as, like, a slightly different tax advantage versus long term real estate. But how do you do it in a way where I'm not just buying, like, a crappy properties that probably aren't that good of Airbnbs. You're gonna just have a train run through them of, like, families that are gonna be destroying them. Or buying these Airbnbs that are so just, like, out to lunch in terms of the expectation that they're losing money on their own. I think there's a fine balance that probably exists there.

Dan Austin: [2:37] Yeah. Like, if there's, a useful a personal use element. I've always said this about Airbnb. One, it's gotta be in a badass location.

Dylan Koch: [2:43] For it

Dan Austin: [2:43] to be to be clear, for it to be worth it and not be like a whole another separate lame business that you have to run, which even one Airbnb is a lame business. And if it's not a cool spot, it's even harder to rent. You gotta do all sorts of weird stuff and buy hot tubs and shit. But back to my point, if you have an Airbnb in a cool spot, it probably still makes sense.

Mike DeHaan: [3:01] Mhmm.

Dan Austin: [3:02] But then if you have a reason, like you like have a personal use reason to have it as well in that location, then that I think helps offset not just like it's nothing to do with like the the revenue, but it helps offset any downside to it because, like, well, I'm using it. Yeah. So, like, you're you're getting other value out of it.

Dylan Koch: [3:19] You know? So It helps justify it. That's for sure. I mean, hell, that Airbnb that I was in in Phoenix, like, three weeks ago, it was exactly what you described, Dan, where this place is probably a thousand square foot big. But on the outside, it had a a sauna. It had an ice bath. It had, like, this little workout place.

Dan Austin: [3:36] Yep.

Dylan Koch: [3:36] And and had, like, the small pickleball court. Like, it was dope, but I looked it up, and then they paid $500 for a thousand square foot place that set, like, six people, but had all the outside stuff. Right?

Dan Austin: [3:47] Like Right. Exactly.

Mike DeHaan: [3:48] Yeah. I'm sure

Dylan Koch: [3:48] that place made made money.

Dan Austin: [3:50] Remember that place, the first Keyescom? That place was pretty I mean, the house was by the folder, but that place was dope. It had, like, elevator in it and stuff.

Mike DeHaan: [3:56] Yeah. That was nice. I mean, the only thing that sucked is because it was in the what? The city of Scotsia, and they had that whole thing with the alarm. So because the pool didn't have a fence.

Dan Austin: [4:05] Oh, yeah. The door alarm for the pool. That pool was sick though. Like, when you think about it, that pool

Mike DeHaan: [4:09] is sweet. That pool was sick. But every time anybody came in from, like, the casita or whatever that was outside the little guest house, that alarm was, like, piercing. It was terrible.

Dan Austin: [4:18] Yeah. It was bad. Yeah. It was it was bad.

Dylan Koch: [4:20] Well, that's the other thing with if you're looking at Airbnb, it's like the jurisdiction is, like, constantly changing on what they allow versus what they don't allow.

Dan Austin: [4:26] Yeah.

Dylan Koch: [4:27] And, like, do you have to do thirty day stays now and set or forty five day stays versus, like, less than seven, and everything's different.

Mike DeHaan: [4:32] Well, that's why you gotta go place where it's actually meant for it. You know? Right. If you look at somewhere that I've been where I've really noticed that is, like, Pensacola, like, in not What's the beach down there called? Destin?

Dylan Koch: [4:43] Panama City?

Mike DeHaan: [4:44] Yeah. Like like, Destin area, like, down in, like, that Panhandle Of Florida part. Like, we've been down there a handful of times. We went down there for a real estate event, and then we're down there with some friends a few years ago. And basically, that entire, like, strip of beach is just all these, like, huge weird properties that are, like, eight stories tall even though, like, the actual footprint on the ground is, like, 50 foot by 50 foot. Right? And they just have, like, all these bedrooms in there, and they're all walking distance from the beach. And the whole premise of those are obviously vacation rentals. Right?

Dylan Koch: [5:18] We stayed at one that had, like, two kitchens on the floors. That was dope.

Mike DeHaan: [5:21] Yeah. Yeah. They're cool. Like, I mean, places like that, that's kind of honestly where you probably wanna go because then it's you're not gonna face those kind of issues. Like, they're not gonna suddenly crack down on Airbnbs in that sort of market.

Dylan Koch: [5:32] No. Besides so much of their their local revenue. Right? Like, they're not they're not gonna die.

Mike DeHaan: [5:37] Totally. And also, no one's gonna live in that house full time. If you do, you're a freaking weirdo.

Dan Austin: [5:41] Yeah. It's weird.

Mike DeHaan: [5:42] Yeah. Yeah. Yeah. Man, my master's on the 7th Floor of this freaking tower by the beach. No one wants that.

Dan Austin: [5:48] All the houses on stilts and stuff.

Dylan Koch: [5:49] They're so All

Dan Austin: [5:50] of them are. All of them are

Dylan Koch: [5:51] in stilts. Yeah. Yeah. That's the one

Dan Austin: [5:53] thing I will say about like this is total side side topic, but like beaches on the West Coast, although they're not like nice white sandy, they're way better because they're not houses on stilts with hurricanes.

Mike DeHaan: [6:02] Oh, shit.

Dan Austin: [6:03] We have some advantages over here.

Mike DeHaan: [6:05] Yeah. You got you gotta pick your poison. Instead, you go to the beaches in San Diego and they're full of like kelp. The water's cold.

Dan Austin: [6:10] Kelp. Almost people. Yeah. Yeah.

Mike DeHaan: [6:12] There's the they're kinda rocky. Right? Like the sand is like kinda coarse and brutal. But, hey, you know, at least you're we shouldn't have hurricanes. Your house is

Dan Austin: [6:20] right there.

Mike DeHaan: [6:21] We we we shouldn't have hurricanes yet. Give it time. Climate change is still, still going. But I asked Anthropic over here about the Airbnb benefits, for taxes. And so there's depreciation, obviously. Fourteen day, 10% rule if you rent your home fourteen days or fewer per year. Rounding commissary tax free rate, that's the Augusta rule. Is that the same thing?

Dylan Koch: [6:41] Is that Yeah. I think so. The fourteen days is the same thing in the Augusta rule. So

Mike DeHaan: [6:45] It's funny. It lists both of those. The QBI deduction, if your Airbnb qualifies as a business, not passive investment, you may deduct up to 20% of qualified business income under the past due deduction, offsetting passive income. Rental losses when expenses exceed income can offset other passive income. If you're a real estate professional, loss can offset ordinary income. It's not the same as long term stuff. And then the STR loophole with active participation. If you have short term rentals with an average stay of seven days or fewer, they may be classified as an active business rather than a passive rental, allowing losses to offset w two or other active income, especially valuable for high earners. See, Dan, we gotta change our mindset and just buy these Airbnbs that just fucking hemorrhage money. We'll be good. What's funny is, like, what what's this is saying if you really think about it. So it says, you can use the losses to offset your active income. And I was like, okay. So if I lose money, I pay less taxes. I guess that exists with every business?

Dan Austin: [7:46] Yeah. Well, you want the paper losses. You don't want actual losses.

Mike DeHaan: [7:49] Right?

Dan Austin: [7:49] I know. You want that thing to break even. Yeah. Because here's the other thing. People want Airbnb, but then your national incarnation is like, I want this thing to make a shit ton of money. I know. Well, guess what? Then all your paper losses go towards writing off that income, and you're in the same exact spot, except for you own a freaking house. You gotta worry about the roof blown off or some shit. You know? That's the downside.

Mike DeHaan: [8:06] Dude, that's the other thing that turns me off is there's always just this implied extra expense that you know is gonna eventually come

Dan Austin: [8:14] Yeah.

Mike DeHaan: [8:14] Regardless of where you are.

Dylan Koch: [8:15] Let's say you get a $100 of depreciation. You basically are the perfect scenario is, like, you loses, quote unquote, $20 a year for, like, five years. And you basically broke even for five years, but you're at least kicking the can. And Yeah. Today's dollars are worth more than future dollars. But

Dan Austin: [8:29] This is true. There I mean, there's gotta be, like, a we gotta get AI to get this. I'm not smart enough to figure this. Like, what is the actual, like, crossover with accounting some risk risk adjustment and accounting for the mental bandwidth that it might take from you? You gotta have some sort of, like, accounting for that and I see, is it worth

Mike DeHaan: [8:45] got it figured out. Here's what we'll do. We move to Puerto Rico. We just don't

Dan Austin: [8:50] catch this period. I'm gonna stay in Jake was it Jake Paul's Casita?

Mike DeHaan: [8:53] So we just we just do that. That solves the first problem. And then what we do is we just can buy short term rentals and then just basically bank losses forever. And then when the hurricanes get too bad in Puerto Rico, we just move back.

Dylan Koch: [9:06] And then you have a big insurance claim.

Mike DeHaan: [9:08] Oh, they well, it's assuming they're still part of the country. They might be annexed by Yeah. The administration by that point.

Dan Austin: [9:14] We do need an office, so maybe we can use that as like a depreciating thing.

Mike DeHaan: [9:18] That's a good idea, actually. Yeah. We found out that essentially to do anything to grow our business now, Dylan, we have to have like a brick and mortar office.

Dylan Koch: [9:26] Really? Yeah. There you go. This fine office. Sweet ass office in in Spokane.

Dan Austin: [9:30] No. No. Puerto Rico, dude.

Mike DeHaan: [9:32] So we can base there.

Dan Austin: [9:33] I would love to hire some Puerto Ricans.

Dylan Koch: [9:35] Hey. I like having my office here. I would

Mike DeHaan: [9:37] love to hire some Puerto Ricans.

Dan Austin: [9:38] Yeah. You could get like all sorts of baseball players, like, stuff like that. Yeah. They're just cool people to hang out with.

Mike DeHaan: [9:44] Is that is that where your brain your brain goes? I can't wait around with some Puerto Rican baseball playing.

Dan Austin: [9:49] Dude, those dudes are, like, juiced up, man. You can have them as, like, bodyguards for our office. Sure. We all know what you mean. They're down to party?

Mike DeHaan: [9:55] Yep. Totally. We why not? We know we know where your brain's headed. Get out of here.

Dan Austin: [10:02] Whatever, dude. You don't know me. You don't know me.

Mike DeHaan: [10:05] I know you too well. So I've seen the way that you act when you go to Vegas. I've never seen you have so much fun with a weird Russian dude with a blazer that was unbuttoned with no shirt and his wife, like hooker. God.

Dan Austin: [10:20] That freaked me, dude. That scared me so I was so scared.

Mike DeHaan: [10:23] She was drinking a bottle of wine, like, out of the bottle. Like, at a table? At the roulette table.

Dylan Koch: [10:28] Yeah, dude. That's respect.

Dan Austin: [10:30] That's Well Yeah.

Mike DeHaan: [10:31] And and she was American, and then he was definitely Eastern European. And he literally had on, like, his huge blazer that was unbuttoned. He had nothing underneath it.

Dan Austin: [10:42] Tattooed. Big old chest piece tattoo.

Mike DeHaan: [10:44] Yeah. Big chest tattoo.

Dan Austin: [10:45] For sure mob type guy.

Mike DeHaan: [10:47] Or just like shit hammered Russian dude. I don't know, man.

Dan Austin: [10:50] Dude, it was uncomfortable because you never looked like a dude that would kill you. And his girlfriend or hooker or whatever was trying to talk to me. And I thought he was like pointing, he was like, mine, mine. And I was like, what is he talking about? And I was like, I'm just trying to put all my money on black. And then he like tracked this down after I lost all my money and was like talking shit to me, dude. He was like, you suck at gambling. And I was like, fuck. Yeah. I I do. Like, it was scary.

Mike DeHaan: [11:13] And his his lady friend still had the bottle of wine.

Dan Austin: [11:16] She was

Mike DeHaan: [11:16] literally just taking swigs out of this thing. I was like, what is happening?

Dan Austin: [11:19] They were wasted. That's like quintessential Vegas right there, dude.

Mike DeHaan: [11:23] That's like old Vegas. Like, I I remember when there was you get a lot more of that. You don't see a lot of

Dan Austin: [11:27] that anymore. I see, like, people with kids and shit there. We don't want that.

Mike DeHaan: [11:29] No way.

Dan Austin: [11:30] I wanna smoke cigarettes and get drunk.

Dylan Koch: [11:33] How was the occupancy, I guess, at Vegas? Like, was there a lot people there? I know they're there for a conference, but, that's kind of a vibe.

Dan Austin: [11:39] So I will say, yes. It was, like, shoulder to shoulder in the casino at some points in time. But was spring break, and there was was it the NIL tournament there?

Dylan Koch: [11:48] No one gives a fuck about the NIL.

Mike DeHaan: [11:49] Yeah. No. It was the college basketball crown, which is even lower than NIL. So it's like all these, like so the college basketball crown they had there, which was like the big name schools that either chose not to go to the NIL because they're too good for that. Because, like so at our hotel was Baylor in Minnesota, and they were, like, playing there. I think Auburn ended up winning that. Oh, yeah. Yeah. But so it goes a lot like the big name schools that, I don't know, were there for some reason, but there was definitely people there for that.

Dan Austin: [12:18] Yeah. So it was busy. I've heard lots of rumors about Vegas being, like, dead. But for that week, I would not say it was dead. Like so they they probably do have some dead weeks, you know, in between and stuff like that, but it was busy.

Mike DeHaan: [12:29] We've been to Vegas quite a few times over the past year, and it's never been seemed dead.

Dan Austin: [12:33] Yeah. I guess that's a good point. Like, I like, you're walking on the strip, and you're like, it's hundreds of It's busy. Like, it's busy.

Dylan Koch: [12:38] Yeah. I love how the lending conferences are in Vegas.

Mike DeHaan: [12:40] Well, I mean, it's a perfect place to have a conference because you can fly direct from anywhere. It's very easy to just put everyone in the same hotel. There's nothing but conference space. The food is decent.

Dan Austin: [12:50] Yeah. You could probably have 20 conferences per hotel easy. Like, there's so much space.

Mike DeHaan: [12:54] In our hotel, we were getting confused trying to figure out which conference area was our thing because there was a different one in every single area. Yeah.

Dan Austin: [13:01] Yeah. Yeah. It is a good conference place, but also I think it's probably because, like, there's a lot of finance guys, and it's cocaine is cheap.

Mike DeHaan: [13:07] Dude, but they're not that cool.

Dan Austin: [13:08] No. They're not that cool.

Mike DeHaan: [13:09] But you and me were going around, like, we the only ones gambling? Like, oh, wait. We saw that guy at the conference. Look. There's also the guys that you meet that at, like, the the meet and greets, and you're like, oh, how was your thing today? And they're obviously a little bit, you know, overcooked. Yeah. And they're like, man, I I lost so much money last night. I had to get a cash advance on my credit card. One guy literally told us that. It happened.

Dylan Koch: [13:30] Wow. I love that.

Dan Austin: [13:32] It's also nice because you can have, like, fun in the casino or, like, the building after the conference. And so it's a good it's a good spot. I'm a lot of them are in Miami too.

Dylan Koch: [13:41] Hey. Sometimes those are the best the relationships you get are like, you know, not in the conference or the things after the conference.

Dan Austin: [13:48] Right. They're all outside. Yeah. I don't think Mike and I spent more than ten minutes total in the, like presentations.

Dylan Koch: [13:54] Like a presentation? Like off

Dan Austin: [13:56] and on, it'd be like two minutes in between a networking meeting. You sit down for five minutes to take a break just because that's the only place to sit and then you go back outside, go network more. And yeah, I don't know that I heard too much.

Mike DeHaan: [14:06] I will say, like, out of I've been to conferences all kinds of different places. Vegas is probably my preferred spot just because it has, like, options. Great dining options. There's lots of good food. There's always a good gym if you stay in, like, decent hotel. So, like, outside of that, it can actually be active. It's very easy to get there. Right? It's not overly expensive. Like, sometimes I hate when you have these things. I'm like, oh, I'm going to fucking Park City and spending $900 in the worst hotel room I've ever seen in my life.

Dylan Koch: [14:34] Yeah.

Mike DeHaan: [14:35] Right? Yep. And the food options are like, if you can get in anywhere are fine. But

Dylan Koch: [14:40] What I'm hearing is Mike stayed at Trump Tower in Vegas.

Dan Austin: [14:43] Mike did. Mike yeah. That's where I booked this hotel. Right. Yeah. He would never would never.

Mike DeHaan: [14:48] I'm debating not paying my taxes.

Dan Austin: [14:50] I don't

Mike DeHaan: [14:50] wanna support him anymore.

Dan Austin: [14:52] Dude, here's the thing.

Dylan Koch: [14:53] I I'm with you. I'm and not necessarily the Trump thing, but, like, I will not pay my taxes, and we'll see what happens.

Dan Austin: [14:58] Gonna pay mine. You guys don't pay yours.

Mike DeHaan: [15:00] So think about it. So they say that you realistically, you have what, three to four years before the IRS like audits you. Who knows what three to four years is gonna look like? He's gonna be up again for his third term. A lot of shit could happen between now and then. So Yeah. Will the IRS even come hunting? Then we'll see.

Dan Austin: [15:14] Maybe. Maybe. You know what? The best thing you could do is that I think did they lay off a bunch of IRS agents? Were they talking about it as part of the the Elon Musk thing?

Dylan Koch: [15:24] I think that they talked about it. Yeah.

Dan Austin: [15:26] Yeah. They did. So we're all good for a while, dude. They're not gonna hire them back. We just gotta get through six more years.

Dylan Koch: [15:31] If they see, you know, some of our tax bills are like, they're good. They you know, that's the people who had claimed the big incomes that don't pay shit. That's probably like, what's going on here?

Mike DeHaan: [15:39] Yeah. But if you claim a really big income and don't pay shit, then you kinda get a pass. You're like, you're good.

Dylan Koch: [15:44] I

Dan Austin: [15:44] also think that probably, like, the IRS, because they're the government, probably does dumb shit like focusing on the billionaires, which you would think there's a lot of money there. But those guys also have better attorneys and and tax lawyers that are smarter than IRS agents.

Dylan Koch: [15:56] Or they focus on the people who make like $20. And you're like, why are you wasting your time if they owe an extra $50 Like They need

Dan Austin: [16:03] to go after doctors who are trying to buy Airbnbs to offset their income. Because you know those dudes are paying they're too cheap. So they're paying really bad tax attorneys and they're gonna get ass bit.

Mike DeHaan: [16:13] They're also chicken shit, dude. So as soon as they face any resistance, they fold.

Dan Austin: [16:16] Yeah. They're the best ones to go after.

Dylan Koch: [16:17] Yeah. Or it's the the doctors who, like, have their wife retire and then their wife becomes a real estate agent so they can get all And they've, like there's been case law that says, hey. Running comps does not count.

Dan Austin: [16:28] Yeah. Oh, yeah. Yeah. There's significant case law.

Dylan Koch: [16:30] Like, you actually have to do something inside of this. Like yeah.

Mike DeHaan: [16:33] Like That's my issue with so many of the tax things, really, before we move on that is, so, like, we talked about the Augusta line. I know you sent that in the Slack as well, Dylan. There's so many of these little things. Pretty much every time I get I see any sort of, like, tax thing that has a fucking infographic, I know it's not the full truth.

Dylan Koch: [16:49] Yeah.

Mike DeHaan: [16:50] Right? And it is some guru or whatever that's trying to, like, pitch you their thing about why what they're doing is super beneficial to you and the tax thing people get all excited about that. Because, like, there's so many, like, little nuance details. Like, to your point, being involved is not just, running comps and doing the bookkeeping. Right? But they're like, oh, they're I'm a real estate professional because I'm like, no. You're not. Like, that's not how it works. Like, you might feel like that, and sure, you might even have a shitty accountant that goes, cool, and gives you rep status. But the second you get audited, you're gonna be screwed.

Dylan Koch: [17:23] Yeah. And you need a paper chair, like a calendar of your appointments or, like, you know, your CRM connected that. But if you don't have anything and you just claim it, you are yeah. You're like you said, you are cooked. It's good.

Mike DeHaan: [17:32] Totally. And there's like people that, like, run all these expenses through your business, and they just do these different things. I'm like, you're gonna feel great doing that until you eventually get caught. You know? It's kinda like if you're, like, speeding in your car and you get

Dan Austin: [17:43] pulled over, you're like, well, that

Mike DeHaan: [17:44] was fucking dumb. I didn't need to be going 60 and at 40, but I was. Right. And then, like, you you sort of you get bit at that point. It's the same sort of thing. You eventually get caught. You will be you'll be facing it.

Dylan Koch: [17:55] I was talking with my CPA this morning because I had paid, my estimated bill. And so luckily, we were pretty close on what we think it's gonna be, but I'm gonna pay a little bit more. But we were talking about other ways, at last minute, even though we're already into 2026 that you can do. And he talked about contributing to a Roth IRA and their traditional IRA and converting it. He said to me, which is weird, he's like, you're different than a lot of real estate investors. Just a lot of real estate investors I know don't have any, like, traditional retirement accounts. So four zero one k's, no IRA's, no HSA's, any of that. And just thought that was interesting because I was like, I have a lot of that and so does my wife. So Why? Diversification, I guess, is my first instinct answer. And then to be fair, I like the Roth model because the Roth grows and tax free. And then when you take distributions later, there are no RMDs, you don't have to take the minimum distributions when you turn that age. And tax

Dan Austin: [18:43] So there's no RMDs on Roth?

Dylan Koch: [18:45] Correct.

Dan Austin: [18:46] Okay. I guess that makes sense. Yeah.

Mike DeHaan: [18:48] Yeah. I pulled a lot of my money out of my old retirement accounts. I've talked about this a lot. And I wish that I could pull I made a investment in a syndication on a checkbook IRA, and, like, I wish that I just fucking cashed that out and done it. Because I don't fundamentally believe in IRAs explicitly because of the time restraint. Right? And and this is for me just kind of being, I would say, bearish on life and, like, the future. The fact that I am giving essentially an interest free loan, I guess, for these people to do whatever the hell they want with my money. They can invest it. Whatever they really do with it, I don't fucking know. But, you know, they'll say I'll put it in stocks to do whatever. To believe that that institution will still exist, that I will still be alive, that the general foundation that has built that will still be around when I'm, like, 60, you know, twenty five years from now, I don't believe that. Like, I don't wanna, like, give faith to that. And so it's hard for me to justify doing that purely for quote, unquote tax benefits.

Dan Austin: [19:46] I'll, be a play devil's advocate here. Totally. Tend to agree with you. But just from a devil's advocate standpoint, to not believe in the institution means you probably shouldn't invest in anything. Yeah. Because if you don't think it'll be here when you're 60, you should just YOLO that shit and spend all your money because, like, you're never gonna pay taxes again. Because it'll be gone. I agree. Yes.

Mike DeHaan: [20:05] This is why I'm really big on, like, the active income versus just the investing.

Dan Austin: [20:10] I guess my argument to the on top of that too is, like, owning real estate, I would put that in that category because it's so heavily influenced by the institution. Yeah. Because, like, they could basically say, you know what? We can't afford to have Fannie and Freddie anymore. Sorry, people in America. You're not gonna get government backed loans, which would totally change the dynamics of the real estate industry. Right? Mhmm. And so like stuff like that could happen or they could fuck with the interest rates like they always do or they could, you know, bomb the the Strait Of Hormuz or I should say Iran. I was gonna make a different joke, but bomb Iran and change things. Right? And so Mhmm. The real estate investment strategy is very heavily influenced by the government. The four zero one k Roth is heavily influenced by it. The general stock market's heavily influenced by it. So where else do you put your money?

Mike DeHaan: [20:53] That's a great question. Right? And, like, I think investing it in your own business so it's like you can make a million dollars a year and you only spend $250,000 a year. Sweet. You have extra money. You can reinvest that. You can just hold cash and put it in crypto, whatever.

Dan Austin: [21:06] But what do say reinvest it?

Mike DeHaan: [21:07] Reinvest it only in your business? Like, reinvest it only in your business. Okay. Totally. And, like, I think that the passive growth is important. But to your point, I I don't have, a long term time horizon anything. This is why I've been preaching forever around, like, it probably doesn't make sense to intend to hold real estate for thirty years Yeah. Because so many things can happen. You will have expenses that will eventually eat at that property value or, like, that that will take away your cash and cash return that you have on that. Right? You know? And you can't actually predict the future. Like, it's just not possible. What will it look like? The one thing that I do like about real estate and why I will still advocate it for people to do it correctly is that you can very literally buy it with a return on day one. Yeah. You know, you can buy it at 50% value. You cannot do that with, a stock security. You cannot, you know, do that with any kind of, like, quote, unquote traditional investment because you have to buy it wherever the face value is right now. The benefit is that it's very easy to liquidate, whereas the house is not. But you have the upside or downside is outside of your control. Whereas with real estate, actually do have a lot more control of that. As we know, like, with our our wholesale business, we ran forever. So, like, even if you bought it at 50¢ in the dollar, you're unable to sell it. I wish that the market value was, but you're able to sell it for 25% below that.

Mike DeHaan: [22:21] You're still up 25% if you bought it at 50¢ in the dollar.

Dylan Koch: [22:24] One is, like, in comparison to total net worth, the contribution to that is a very small amount. Sure. So, like and it'll grow over time. And I'm not a big fan of the traditional accounts that disco tax deferred because then you're just getting if it's big enough, you're gonna be in the highest tax rate at the end of your life anyway. And chances are those tax rates are gonna be higher.

Dan Austin: [22:42] It actually forces you into it.

Dylan Koch: [22:43] It forces you into it. Yeah. Because if you take RMDs, you can't do anything with it. Even if you give some of that away, it doesn't matter. So I do like the Roth aspect in that regard. My second question was like, do you plan to, you don't have to answer if you don't want have any kind of those accounts for your for your kid?

Dan Austin: [22:56] No. Mike doesn't like his kid that much. Well, I'm just kidding. I don't trust my kids will be that good.

Dylan Koch: [23:02] My CP asked if I wanted a Trump account, and I said, no. I don't want the Trump account because I have other methods outside of that.

Mike DeHaan: [23:07] Yeah. It's like, I wouldn't do the Trump account in general because I disagree with the principle of that, not because it's called Trump, even though he's a fucking asshole. It's the fact that what they are doing is they are finding a reason to take tax dollars and put them into the private market.

Dan Austin: [23:19] So you're saying that you wouldn't what is it? A thousand bucks?

Dylan Koch: [23:22] It was $2.50 for what I saw. Well, 250 is what they gave you. I think you could do it. Like, you could contribute up to a thousand.

Dan Austin: [23:29] Okay. I don't have a point there.

Mike DeHaan: [23:30] No. But because, like, what they're trying to do is say they're gonna take tax dollars. They're gonna put it into these accounts, and they're gonna invest it because then they can take all that money. They can put it towards the investments that they deem to be the best, that the Trump account people, like the federal government decides the best, which is super crooked in my mind because you're now taking tax laws that they've been collecting and putting it towards the private endeavor of their choice.

Dan Austin: [23:51] Is that true?

Mike DeHaan: [23:53] Yes. That's how it fundamentally works.

Dan Austin: [23:54] I know. But who picks the stocks?

Mike DeHaan: [23:56] I don't know. They haven't they haven't come around yet. They don't start till July.

Dan Austin: [23:59] Because or is it the S and P 500? Because my understanding was it's the S and P 500, which would, in my opinion, be a good investment because it's like, that's just the okay. Invest in American companies. The best 500 companies.

Mike DeHaan: [24:10] It might be. But at the same time, I still do not think that tax dollars should go towards publicly traded companies.

Dan Austin: [24:16] Do you think it should go to something else? Yeah. Like what? Like like helping, like, federal services? I know. Which ones? Infrastructure.

Mike DeHaan: [24:24] Any of them. Yeah. Anything that's not these same fucking people that already are pulling all the strings.

Dan Austin: [24:29] I disagree somewhat on that. I I I agree more on the lines that I we should just not give it to anybody. The, And, like, that should just go back in my pocket. Like,

Mike DeHaan: [24:37] I don't want it

Dan Austin: [24:37] to go somewhere else.

Mike DeHaan: [24:38] Oh, totally. I think that's the best outcome.

Dylan Koch: [24:40] Yeah. You always see the things on social media that compare the amount of money paid into social security if it would be invested versus if it's just going out. Like 100%. Yeah. An astronomical difference. It's disgusting. And I think

Dan Austin: [24:52] that's the argument, which is actually a sound argument if you're putting it in the context of just, like, the growth of of federal dollars with the Trump accounts. It's a very good argument. Why wouldn't you invest in the top 500 companies in the fucking world with all of our social security? Because we would never have to worry about it. And that's what other countries have done with their social programs, have invested in, in better things than US treasuries. And guess what? They have people that don't ever have to worry about retirement funds. Yeah. We're the richest country in the world. We have the richest everything. Like, we should be able to do that.

Mike DeHaan: [25:23] Well, technically we're bankrupt. We're we were deemed to be,

Dan Austin: [25:26] I know. But like, it's like goes back to the point of like talking about, you know, how much freaking money is available in the lending industry for this stuff. You go to California, you know, like there's, yeah, there's like this whole layer of like social poverty in California, but there's so much money there. You can't even compare it to almost any other country in the world. Know, obviously you've got China and stuff like that, but like, it's so much money, like so much GDP out of just California.

Dylan Koch: [25:51] There's an analyst that I follow that basically thinks that there is, I won't say an ulterior motive, but between Bissent and Trump and his cabinet to try to keep the stock market high, not just for perception purposes and saying I'm doing a great job, but because a lot of the gross tax receipts come from old people having lots of stocks that eventually sell them.

Dan Austin: [26:12] RMDs and stuff.

Dylan Koch: [26:13] Yeah, RMDs is placed into that. But capital gains is a big part of the federal budget. And so but if that goes down, let's say it goes down 10%. Well, now you're cutting into the tax receipts that they can collect. And so they're trying to find ways to, like, honestly, keep it elevated from not growing the deficit even wider perspective.

Mike DeHaan: [26:30] I feel like that's that's too smart for them.

Dan Austin: [26:32] I wouldn't say that because, like, Besson's, like, a very smart guy. Like, Trump is not doing that stuff. Besson's probably one of the best I I would argue that he's worth having in there, but, like, it's definitely it's not gonna work in my opinion. Like, I don't know. There's just too many other things going on. Right? Maybe I'm wrong, but there's so many other things going on right now that are just, like, causing chaos. It's crazy.

Mike DeHaan: [26:52] Yeah. I actually have another answer too, Dan, you said to where do I put my money? Mhmm. And honestly, I think the answer, and this is one of the

Dan Austin: [27:00] reasons I like the our

Mike DeHaan: [27:01] current business is in private short term debt. Yeah. Right? Because the things that I value with, like, my investments are control. Right? Leverage. And, like, leverage where it's positive in my favor, not like leverage where I'm borrowing money to make the investment. Mhmm. Right? And consistency. And so, like, with us, with, like, the hard hard money, I can get 12% return. That's the same. Sure. It's not a 100 x return. I don't care. Some folks in my business, I can get 12% fixed return. I'm in a advantageous position against the asset that it's in, and I can control basically the decision around if I make that investment or not or, like, what is actually happening with that situation. And if it does go sideways, I can still control that kind of the outcome. Right. You know, if I put all of my money into a company stock and that the CEO decides to show up on the fucking Epstein list and shit gets weird, like, that is completely out of my control. And especially now where you have all this insider trading, all this, like, polymarket bullshit. Yeah. Right? It's even worse because the market will be locked, and all of a sudden, the thing drops 19% premarket, and you don't know why. Yeah.

Mike DeHaan: [28:04] But you're fucked. Yeah. Because you were just all peasants at the end of day.

Dan Austin: [28:07] Right. And there's too many people at play there to con that are controlling the outcomes.

Mike DeHaan: [28:11] Yeah. And there's and it's just outrageous, all the different stuff.

Dylan Koch: [28:14] The insider trader thing is still blows Like, my why can't one person come forth that's in the judiciary and be like, you're going to jail or fined? Like, didn't they do, like, Martha Stewart, like, a decade ago for this shit? Like

Mike DeHaan: [28:25] Yeah. I know. Oh, yeah. And that that's even with the traditional stuff. Like, all this polymarket stuff now is insane.

Dan Austin: [28:31] It is insane.

Mike DeHaan: [28:31] Like, I sent Dan a reel yesterday, and so there was, an over under on, one of Christian Levitt's, speaker of the house's talks, of it being less than 65. Right?

Dylan Koch: [28:43] It was, like, sixty four and fifty seconds.

Mike DeHaan: [28:45] No. So literally, dude, it's at, like, it's at it's at, like, sixty four minutes. One zero four and whatever. Yeah. So it's, like, like, one hour, four minutes, and, like, thirty five seconds or whatever. And all of a sudden she's like, okay. Cool. Yeah. Thanks for coming, everybody. Alright. See you. Bye. And she literally just, walks off the stage. And all the people that were on the under on that, they made 50 x returns.

Dan Austin: [29:03] Isn't that crazy? How much of that, like, do you think because some of this is clearly, like, people in the government that know shit doing stuff.

Dylan Koch: [29:10] Of course.

Mike DeHaan: [29:11] How much

Dan Austin: [29:11] of that too is is, trolling? Like, nobody, like, Caroline's it's not her bet or whatever, but she knows it's out there. She's like, I'm gonna troll these motherfuckers and just do this.

Mike DeHaan: [29:19] For sure.

Dan Austin: [29:20] Right? Like, either way, it's it's crazy. Right?

Dylan Koch: [29:22] I mean, I'm sure it's both, but you would think that if you're smart, you would have, like, two to three or four or five degrees of separation, and then you still get paid from someone. But

Dan Austin: [29:32] I think there's part of it too where it's like, just create chaos.

Mike DeHaan: [29:35] Mhmm.

Dan Austin: [29:35] And even if you know, like she's probably I guarantee she's not gonna get paid anything off of that. I mean, I shouldn't guarantee that. She maybe she is. But as far as creating chaos, just trolling it, knowing what's out there, what's being bet, because that's a pretty novel thing. But you could probably get within a few minutes of how long those press, the press conferences are probably scheduled, right? So like sixty minutes, but she maybe always goes over ten minutes or something like that. So you could probably get within a reasonable bandwidth of that. She, but I could totally see her trolling it, as opposed to like her creating that polymarket bet. Because it is that somebody like her, it's like she's not high enough in the cabinet to like get away with that shit. She's too much in the public eye.

Mike DeHaan: [30:11] She is. But, you know, people around her, who knows?

Dan Austin: [30:13] You want someone like Don Trump who's not even in the cabinet, who's not even part of it, who's making these fucking huge bets on shit his dad's gonna say, and all he has to do is just be in the room, which you know he is, and be like, oh, I'm gonna go Yeah.

Mike DeHaan: [30:23] Make this. I saw one of those too, and it was this huge bet that Trump was gonna say low IQ in one of his talks. Mhmm. And then he he did, and it was like it didn't even really like fit in with what he was talking about. Yeah. But it paid out like it was like, I don't know, 47 x or something.

Dan Austin: [30:40] Yeah. Mean, all it's like, people like Trump I mean, for all we know, doesn't even know it exists. He's an 80 year old dude. And people like, hey, make sure you say this, dude. It'll be great. And he just goes and says shit.

Mike DeHaan: [30:48] Yeah. Yeah. Right.

Dan Austin: [30:49] The speech writers, dude? Absolutely. That's right there.

Dylan Koch: [30:53] Yeah. Yeah. They're like, we don't make enough. Let's make our own money.

Dan Austin: [30:56] Honestly, dude. Like, that's crazy, dude.

Mike DeHaan: [30:58] That's actually a good idea. Yeah. Get on there.

Dylan Koch: [31:01] Hey, guys. I just had a deal, I think, blow up from a stupid appraiser that we talked about last week.

Mike DeHaan: [31:05] Oh, really? Well, that's only gonna get worse. We got nothing but appraiser freaking woes right now, dude.

Dylan Koch: [31:10] As of today, you came back at 01:60, and I had my independent appraisal, like, that I did that came back at one ninety.

Dan Austin: [31:16] Wait. An independent that you paid for or that you did yourself?

Dylan Koch: [31:18] So I paid for it because a lot of the hard money lenders use the same guy here, but this guy's lender made him get his own appraiser. And of course, it comes back, you know, $30 lower. Only It needed to come in 20. Like, it needed to come in at $1.80.

Dan Austin: [31:28] That's kinda crazy.

Mike DeHaan: [31:29] You better get used to that because pretty much all the lenders are gonna be cracking down on you finding your own appraiser very soon.

Dan Austin: [31:35] Well, what else what they're doing too is they're having they're doing their due diligence on the appraisals. And they're just like, nah. We don't like it. Yeah. We don't believe the appraiser, which they have good right to not believe the appraiser because they are kind of dummy sometimes.

Mike DeHaan: [31:46] Yeah. We literally just had one of the appraiser came back on, and they're just like, we disagree with that.

Dan Austin: [31:50] Yeah. So the lender is just like, no.

Mike DeHaan: [31:53] Nope. You gotta figure it out. I gotta do something else, get another one.

Dan Austin: [31:55] Go get a second appraisal, second opinion. Like, plus they have all their fraud alerts and stuff like that that they're doing.

Dylan Koch: [32:01] No, dude. The other thing with this business is, okay, we've already extended because the appraisers took a sweet ass time. And the seller's pissed because, like, we've already extended once. And so now it's like, do you go back and say, oh, we need an additional three weeks. It's probably not gonna happen. Like, this deal's probably not not gonna close. Well,

Dan Austin: [32:15] I think that goes back to the off market stuff is like, you gotta change your sales pitch because it's getting to be you can't do shit like that anymore, honestly.

Mike DeHaan: [32:22] Yeah. Is this a buyer for a wholesale deal? Yeah. Oh, man. If if you'd only sent them to SirLens a lot, then maybe you wouldn't have this issue.

Dylan Koch: [32:29] Dude, I would have. He wanted to use his own lender. Yeah.

Dan Austin: [32:31] We don't require a full appraisal on hard money loans.

Mike DeHaan: [32:34] We just do BPOs. Bummer. You would be closing this deal right now.

Dylan Koch: [32:37] Okay. Well, if I can save it what do you guys need? Ten days? Two weeks?

Dan Austin: [32:41] I will do it in four days for you.

Mike DeHaan: [32:43] Yeah. Because, like, we do all of our our hard money is all on our balance sheet, so that's easy. And then we just trade it. As long as the guy's not a fucking criminal or, like, we go and pull his credit, and we found out that he hasn't paid child support for seven years.

Dan Austin: [32:55] Yeah. And he's got a strangulation charge on his background check.

Mike DeHaan: [32:58] Yeah. We had one of those recently. That was fun.

Dylan Koch: [33:00] This sounds all day specific. Yeah.

Dan Austin: [33:03] Or they have $5 in their bank account.

Mike DeHaan: [33:06] Yeah. We we had one recently where the guy had, like, he on his background check, he had a burglary charge. And it was, like, two years ago. And I'm like, this dude's, like, 35, and he, like, I wanted to have a letter of explanation about why I got charged with burglary. I'm like, dude, that was two years ago. You can't say, like, oh, I was 21, and I was dumb. Yeah. Like, you were an adult Yeah. And you got charged for burglary. That's bad.

Dylan Koch: [33:27] Yeah. That's pretty that's pretty bad.

Dan Austin: [33:29] So

Dylan Koch: [33:30] And, like, what were you like, you stole a water like, what did you steal? That's what I would wanna know. Like, was this like

Mike DeHaan: [33:34] a Burglary. The thing is burglary. That you have to be into something. Breaking and entering as well. That's not theft.

Dylan Koch: [33:40] Oh, that's yeah. That is worse.

Mike DeHaan: [33:41] Theft is like, oh, like, I stole, a pack of gum from the gas station. He, like, broke like, entered a location and took something.

Dylan Koch: [33:47] Yeah. That's much worse. That's that's hard to defend. It's way worse, dude.

Mike DeHaan: [33:51] It's way worse. I know. And even if it's something like, oh, it was, my ex wife's house, I wanted my freaking laptop back. I'm like, still. Yeah. Like, it looks bad.

Dylan Koch: [33:59] How's that conversation go? Like, bro, like, I don't think we're gonna be able to do this. We're not the right fit.

Dan Austin: [34:04] Oh, I don't know.

Mike DeHaan: [34:05] That's that's what we have our LOs do. They get to eat shit all day. I feel bad for them.

Dan Austin: [34:08] Yeah. They get to deal with that. That's their fault for bringing that lead in.

Dylan Koch: [34:11] Yeah. Sorry, man. You're just too much of a of a criminal for us to pursue. Yeah. Sorry.

Dan Austin: [34:15] That definitely happens. Happens a lot more

Mike DeHaan: [34:17] than you think. It's really interesting. Like, you start to see people from, a different light when you get to do due diligence on everybody all the time.

Dylan Koch: [34:24] Yeah. That reminds me. You remember when GoBundance, they started doing background checks for new members, and then they suddenly the rejection rate went up, like, 20%.

Dan Austin: [34:32] Yeah. Because there's dudes there's snakes, dude. There's some snakes trying to get in there.

Dylan Koch: [34:35] That is good. Right? They should do it on the current membership and see what comes up. But

Mike DeHaan: [34:38] No shit. That would be really funny.

Dan Austin: [34:40] I think they did there do something because there was people that were existing members that got kicked out. Was there? I thought they did it on some people, but I think it was more on a, like, you should check this guy out basis.

Mike DeHaan: [34:49] Yeah. Yeah. Like a lot of the deals that were going sideways. I don't know, man. It's such a weird time with stuff. It's like half people are getting desperate. You know, half the people are

Dylan Koch: [34:57] Yeah.

Mike DeHaan: [34:58] Like, there's still a lot of, like, dumb money out there. Like, there's so many people that are, like, really good at being snake oil salesman. Mhmm.

Dan Austin: [35:05] Yeah. That's why you have to pay attention to what you're doing.

Dylan Koch: [35:07] This blows my mind because you you have to know that you're gonna get caught at some point. Like, if you have half a brain

Mike DeHaan: [35:15] I've always thought this with, like, these syndicators who, like, raise all this money, and all of a sudden they're, like, flying on, like, helicopters and shit. You know? I'm like, you can't really think you're gonna get away with this forever. Yeah. Like, you know you're doing bad stuff.

Dan Austin: [35:27] Or maybe they don't know. Maybe they're just ignoring it.

Mike DeHaan: [35:30] Yeah. It's possible.

Dylan Koch: [35:31] I mean, they're obviously ignoring it, but, like, I don't know. Doesn't make sense to me.

Dan Austin: [35:35] There's some level of, I would say ignorance with like criminals like

Dylan Koch: [35:38] that where it's not that

Dan Austin: [35:40] they're stupid because they're obviously

Dylan Koch: [35:41] But then how are you smart enough to raise millions of dollars?

Dan Austin: [35:44] When I say ignorance, like they're clearly sharp people, but it's like, it's almost like an egocentric thing where they're, I'm so smart. I've figured this out. Like when you have like, like a Pace Morby out there who's like, look at me, I'm gonna completely talk about fraud. Because he doesn't, he doesn't even know he's doing it. He thinks he's smarter than everybody else in the room. Mhmm.

Mike DeHaan: [36:01] Yeah. Like it's like true, like, narcissism.

Dan Austin: [36:03] Yeah. Like, just like, there's no way. I'm smarter than the tax code. I'm smarter than the federal government. I figured out a loophole.

Mike DeHaan: [36:09] He's a great example too, because he had that one video where he posted about his driver's license having, like, a UPS store or something on it. And he posted that multiple times cause it got engagement. Totally. And until

Dan Austin: [36:19] you get caught, like, he probably feels confident. He because he probably can argue, all three of us. He could probably sit in a room and probably be a better arguer than us together. Right? Of course. But guess what? When it's in court and they're like, we don't give a shit about your arguing ability. This this isn't debate club, dude. Like, this is the law, and we think you broke the law. Yeah. That's how it is.

Dylan Koch: [36:38] Can we do our own polymarket things? Like, will said guru be in jail in the next, like, certain amount of time?

Mike DeHaan: [36:44] Well, we kinda did that with our predictions. And one of my prediction at the beginning of the year, if you remember that, one of my predictions was that one of the big gurus will go down.

Dylan Koch: [36:51] Oh, Has

Dan Austin: [36:51] anyone been going down yet?

Mike DeHaan: [36:52] I don't think so.

Dylan Koch: [36:53] Oh. Yeah. I forgot about that.

Mike DeHaan: [36:55] Mhmm. But I mean, it's bound to happen. Right? Like

Dan Austin: [36:57] What's your shortlist on that? Who's on your shortlist?

Dylan Koch: [37:00] I know Cardone's got a Yeah. A class action against him

Mike DeHaan: [37:03] right now. Cardone's a pretty good one. Ryan Pineda. I think he'll get busted with something eventually.

Dan Austin: [37:09] What about the Bass brothers? The Andy Elliott and what is it? Oh,

Mike DeHaan: [37:13] dude. Those guys are

Dan Austin: [37:15] going down for, like, domestic violence. Like, they're gonna

Mike DeHaan: [37:17] Oh, yeah. Absolutely. 100%. Yeah. No. And and so is his wife after she kicks his ass. She's fucking bigger than he is.

Dan Austin: [37:24] Yeah. Andy, what's the dude, what's the guy's name he's been hanging out with? Klein. Eric Klein.

Mike DeHaan: [37:29] Oh, another Yeah. That dude that dude's already done time. So he's, like, one unhinged moment away from doing it.

Dylan Koch: [37:36] No double jeopardy.

Dan Austin: [37:37] Yeah. Double jeopardy.

Mike DeHaan: [37:39] Those are good ones. I don't know. Like, it's hard to say. It's tough too because I don't really follow a lot of those people anymore. I've kind of intentionally removed myself from that because every time I was his, I was like, shut up.

Dan Austin: [37:49] Yeah. Just garbage.

Mike DeHaan: [37:50] And so yeah. So I'm not really following the trends. But I'm still waiting for the headlines. I know if a big one does go down, like, everyone that I know will talk about it. So I'll talk about it.

Dylan Koch: [37:59] Cardone was I guess his was busy. Does the five zero six c fundraising that he pretty much said the words guarantee too many times.

Mike DeHaan: [38:06] Mhmm.

Dylan Koch: [38:06] Like, you can't guarantee passive returns, then those returns obviously didn't happen for some of the funds, and now they're going after Yeah.

Dan Austin: [38:13] Darn it.

Mike DeHaan: [38:13] What I would love just because I'm like this kind of person is, like, one of, like, the really big dudes, like a Tony Robbins to go down. Just because, like, that would be like, I have no state night game. I'm not a Tony Robbins fan, but I don't really think it's a bad But I just like Right. I thrive off of, the devastation.

Dan Austin: [38:30] It would hurt so many people's, like, hearts. Oh, yeah. They'd like, I paid Tony Robbins a $100,000 to jump to I don't know what they do. What do they do? Like, go to conferences and get near him?

Mike DeHaan: [38:41] And he says, you're a lion. Roar. Roar at me like a lion. Can

Dylan Koch: [38:45] I say I watched tried to watch, like, his Netflix? This was years ago. But it's called, like, I am not your guru. I lasted five minutes. I'm like, what the hell is this?

Mike DeHaan: [38:52] Oh, yeah. It is.

Dylan Koch: [38:52] I turned it was like, this is not for me. Maybe it's for some people, but it's not

Dan Austin: [38:56] for me. It's for some people, man. Like, he obviously does something good for the people that are cute into it. So, like, I have no ill, like, bad to say about him because he's done it long enough. Right? But it's a yeah. It's not my thing.

Dylan Koch: [39:07] And he said, like, the Feed America thing. He's, like, filled like a billion, like, whatever. Like, he's done good for the world, I think.

Mike DeHaan: [39:11] But I think so. Like, from the limit of mind I know about him, it sounds like he has had a net positive. But, yeah, his messaging and the way he goes about it, it just doesn't speak to me. You know? Doesn't he have an island, though?

Dan Austin: [39:23] Or does he own probably a house on an island or something? Like, he think he owns, like, something in Fiji.

Mike DeHaan: [39:27] So I think I think he owns a lot of stuff. He's got an eye.

Dylan Koch: [39:30] But Yeah. So does, Richard Branson. Well, yeah.

Mike DeHaan: [39:33] But, I mean, everyone knows that he's kind of a creep. I mean, come on.

Dan Austin: [39:36] Isn't it close to is his island close to Epstein's Island? Yeah.

Dylan Koch: [39:40] He got I think he was on the the files. I'm pretty sure he was on the files.

Dan Austin: [39:43] Yeah. Was he in the files?

Mike DeHaan: [39:44] Of course he was. But I mean Yeah.

Dylan Koch: [39:46] I am pretty confident,

Mike DeHaan: [39:47] though, a little bit. But, you know, at the same time, you know, those people are they've done, like, big things. They can look at lot of stuff. They've done with, like, Virgin and different things. It's a pretty Yeah.

Dan Austin: [39:56] Like Which virgins are you talking about?

Mike DeHaan: [39:58] Exactly. That's what you think the name for his company is, it's

Dan Austin: [40:02] not ironic. He just came up with that. Like, that's yeah. No. He's spoken to Virginia Slim, he's like, think I should name my company Virgin. Has nothing to do with a young virgin lady.

Mike DeHaan: [40:13] Goddamn. Alright. We can have any value in this before we shut this up. No value.

Dan Austin: [40:18] Pay your taxes. No value. Pay your taxes.

Dylan Koch: [40:20] Pay your taxes. Don't buy stupid Airbnbs for the tax benefits.

Dan Austin: [40:24] We need you to buy pay your taxes so we can bomb the shit out of Iran. Let's go.

Mike DeHaan: [40:30] Okay. Legit question on that before we go, except I need to ask you this, Dan. What is your take on all the firings of these generals?

Dan Austin: [40:38] I think it's, very indicative of something. So by that, I mean, so think there's a weird one. Like, fired, like, the head of the chaplain corps. Like, that's weird. My guess is if I was Pete Hegseth, I'm firing people that aren't in alignment with my vision and mission. Now I will say this, because there's always a caveat, because I don't know anything about anything, because I don't follow the stuff that goes, is those could have all been appointees from like the Biden administration. Because when you get to a four star general, like that's, you're a politician in the military. To even get to that level, you have to be a politician. Then to be at that level, like you have to, you're doing, it's thirty, forty year career, right? So by Biden appointees, I mean, Biden was also appointing transgender people in charge, like ahead of, like, the navy and stuff like that. Not a good look for the military, in my opinion. You guys can have your own opinions on this. I don't think it was a good one. So these could be hangovers from that. So that he there may be not an alignment in the values and that they shouldn't have been selected. However Maybe they were looking for

Dylan Koch: [41:41] an excuse to get them out. That was their excuse.

Dan Austin: [41:43] Exactly. However, my personal initial instinct was that they were just people that weren't in alignment with his mission and vision of what he wanted. They weren't saying yes to everything, and that would create chaos. And in any organization, you need all the leaders to be in alignment. Now his vision and mission, I don't know Pete Heggs says if he's the one being like, yeah, we gotta bomb the shit out of Iran. This is what I believe. Like, maybe he is, like or he's just following orders. I don't know. Either way, he's getting him out of there for for probably not the right reasons, but it could be, like I said, a political thing from previous administrations.

Mike DeHaan: [42:17] Yeah. I don't know, though. So so the people that he's fired have included the army chief of staff, chief of chaplains, army transformation and training command, chairman of the joints joint chief of staff, chief of naval operations, air force vice chief of staff, and head of defense intelligence agency, and others, it says. So over over 20 top generals and admirals.

Dan Austin: [42:41] Yeah. I would hesitate to say that that's not uncommon, or I would say that that's probably not uncommon to swap these out because there's I mean, these people are all at the end of their careers anyways. The chairman, joint chief of staff, did you say that's who it was? The or

Mike DeHaan: [42:55] Yeah.

Dan Austin: [42:55] Okay. So the let's see. I'm just reading this article here. So he you're saying Dan Cain? Because I thought I just saw him on TV.

Mike DeHaan: [43:04] I mean, this is all recent.

Dan Austin: [43:06] Yeah. I mean, I thought I saw him, like, yesterday on TV.

Mike DeHaan: [43:08] General C. Q. Brown.

Dan Austin: [43:09] Okay. That's a different person. And I say that because the the joint chief of staffs is kinda like that's like the general generals. So for him to fire that person, that person would likely be appointed by, like Trump and and and his, you know, secretary of war or whatever. But yeah, I I don't know. It's something to take note of, but you have to compare it to other administrations to see what they're doing.

Mike DeHaan: [43:28] That's fair. I mean, and to your point, like, Seth does get blown out proportion. So to round this out with a good example is I saw all over Reddit yesterday that there was this whole thing about how the mandatory enlistment in the military draft was gonna happen this fall. Right? And it was this whole thing about how they have an automated process for we literally everyone already asked you this anyway. But, you have to let go and you have to, like, register to basically say that you are of age. It's, like, between 18 and 24 to enlist. Yeah. And now they have an automated process. They're gonna do that. And how Reddit and, like, you know, the sort of other side of the camp spun this is you're automatically gonna be enlisted in the draft now.

Dylan Koch: [44:07] Yeah. It's stupid. No.

Mike DeHaan: [44:08] Which is stupid. Yeah. Like, it's completely misconstrued.

Dan Austin: [44:11] And and the thing is that that thing was like a long time ago. Like, when they changed it to when you were 18, like decades ago, like I had to go when I turned 18, I don't if you guys had to, I had to go to the DMV and register with the selective service. You did?

Dylan Koch: [44:23] I did too.

Mike DeHaan: [44:23] Yeah. Selective service, we all did. That it's been going around since like the sixties.

Dan Austin: [44:27] No. I know. But I'm saying I thought, like, I thought it's already automated after, like, like, in the late two thousands.

Mike DeHaan: [44:33] No. Okay. No. No. So now now they're they're they're actually gonna be automatic when people into it. So but your point being, maybe there's a misconstrued headline with a general thing just like there is with that.

Dan Austin: [44:43] It could be. Like, I would do my research. My again, my instinct when I read a headline like that is twofold. It's like, that doesn't seem good because of what's going on. But then I'm like, oh, these dudes wanna manipulate me. How many generals were fired under Biden? And so I just Googled that. And you know what Gemini said? As early as April 2026, defense secretary, which is wrong, Pete Hegseth under the Biden administration has fired over a dozen senior generals. I'm like, all of that is wrong. Google does not even know because Biden is not here. Pete Hedzek is secretary of war. And then it's a dozen, not 20.

Mike DeHaan: [45:15] So you can't trust Google. Totally. See, and these are all of the reasons that I do not believe in fully passive investments that are part of the machine. So

Dan Austin: [45:23] Yes. Fuck IRAs.

Mike DeHaan: [45:24] Yeah. Delete bring bring a full circle.

Dan Austin: [45:28] Don't I didn't say the IRS part. Don't come after me.

Mike DeHaan: [45:31] Oh, no. IRAs.

Dan Austin: [45:32] Oh, I thought you said IRS. IRS. Well, fuck them too,

Mike DeHaan: [45:35] but the IRAs. Yeah. Because it doesn't make any fundamental sense. There's so many things outside your control.

Dan Austin: [45:39] Totally. Right? Like I all of it, dude. It's it's all controlled by the big machine. You and if the as long as the big machine is the big machine, we're all good. Right? Yeah. So pay your taxes so we can have a big machine, and I can make more money so that I can get out of underneath the big machine. Because that is what the goal should be, right? Is to not need to rely on the big machine. That's the goal of everybody. And I think at this point, that threshold keeps moving higher and higher and higher and higher Yeah. Well dollar amount, net worth than what you need.

Mike DeHaan: [46:07] It does, and it's not gonna stop anytime soon. Anyways, go get rich people. Otherwise, you know, next little while is gonna suck. Sorry. But don't make money. Alright, everybody. Talk to you guys later. See you guys next week. See y'all.

Dylan Koch: [46:18] See you.

Mike DeHaan: [46:19] This episode is sponsored by Sir Lenzalot LLC, also known as SLA Capital, which, if you didn't know, is Dan and I's private lending company. So, yes, we are sponsoring our own show, but what you're do about it? It is our private lending company that offers hard money and DSCR loans to real estate investors of all types. So you can be a new investor, an experienced investor. You can be buying flips. You can be buying rentals, whatever. We can do everything. And not only that, but the rates that we offer are just as competitive, if not cheaper, than pretty much every other company out there. So whatever big company you've been working with, bring us their term sheets, and I guarantee that we can probably beat it. We have the same connections they do. We just don't have all the overhead and middlemen. So if you wanna come and check us out, go to SLA Capital dot com slash keys, and I will know that you came from the show. And by seeing that you came from here, when you get the closing, you will save $500 on your first loan with us. So slacapital.com/keys, we would love to fund your next deal. Thanks for listening, everyone. If you want more from us, you can shoot us a follow on Instagram. I am at Mike underscore Invest. Dan is at investor man Dan, and Dylan is at Dylan underscore Does underscore Deals. Choose to follow and send us a DM to let us know what you think the show.