Why there's a lot more Fraud in your Real Estate deals w/ Eric Rubin

Mike DeHaan: [0:02] What's going on, guys? Welcome to collecting keys. I'm Mike DeHaan here with Dan Austin, Dylan Cook, and new friend of the show, Eric Rubin from Atlanta. Eric's a longtime listener. We we know him way back to when we were in Ryan Dossi's little wholesale program many, many years ago. Yeah. We've connected a handful of times over the years. But, just really quick, give us a thirty second intro, Eric, who you are, what you do, why people should care that you're here.

Eric Rubin: [0:32] Like you said, I'm in Atlanta, Georgia. I'm Eric Rubin. I'm a broker. I do commercial real estate, leasing management, and essentially operations. Looking to maybe add some verticals to that, but I'll save that for another when I'm not boring you to death.

Dylan Koch: [0:49] Yeah. You're a good

Mike DeHaan: [0:49] real estate operator. You told us before the show you own some grave plots you're looking to flip. If anybody, wants to buy some of those, you can hit him up. Yeah. That's a whole business. That's

Eric Rubin: [1:01] you ask if they were in Atlanta?

Mike DeHaan: [1:03] Yeah. Like, if people wanna buy your grave plots, where should they be looking to get buried?

Eric Rubin: [1:06] It's it's actually a very, very premier, memorial place in, Memphis, Tennessee.

Mike DeHaan: [1:14] Memphis. Oh, man. That's great. So that that there's a whole industry there. Like, I'm really excited for the, like, grave flipping guru to come through. That that's like I I guarantee you there's an industry that exists that none of us know about.

Dylan Koch: [1:29] For sure.

Dan Austin: [1:29] I think you buy them from guys that wear like gold rings and like really tacky suits.

Mike DeHaan: [1:34] Yeah. For for sure.

Eric Rubin: [1:36] Yeah. There's graveyard They come walking over people's flowers and stuff. Yeah. Yeah.

Dylan Koch: [1:41] I think graveyards are like churches, so they don't pay like the property taxes. Like, it's super low based on the amount of land that they actually have.

Dan Austin: [1:47] Oh, okay. That's good to know. Can we go vertical on these plots if that's the case?

Eric Rubin: [1:53] Well, I think they do in Prague, like or something like that. Like, ran out of space and they had to go, like, up.

Dylan Koch: [2:00] Oh, that's

Eric Rubin: [2:01] Or like in in New Orleans, you know, they're below sea level, so that's why they have all the mausoleums. So that way nobody floats away.

Mike DeHaan: [2:09] I think they've done this in parts of Asia as well where there's, very, very dense population. But I don't know. It's just such a silly I never thought

Dan Austin: [2:16] about that. What do you do with all those bodies? That's I a

Dylan Koch: [2:18] just looked up just on the auditor on where I live, you can look up by land use code and cemetery is one of them. And the highest transaction of all the cemeteries in Hamilton County, Ohio is $750 back in 2019. Decent part of town. Wanna see how much land this actually

Mike DeHaan: [2:37] is. Do

Dan Austin: [2:38] do they like do they buy more land or they like sold

Mike DeHaan: [2:40] a cemetery?

Dylan Koch: [2:41] I think whoever owned it sold the cemetery. Yeah. It's a couple acres. I mean,

Mike DeHaan: [2:47] don't like There's a whole, like, a and e reality show about this, dude. Grave Diggers. They have, like, these, like, crusty dude, just like Duck Dynasty, but it's guys that, like, run graveyards and like the whole thing.

Dylan Koch: [2:59] Someone's gonna try to a subscription to this. Like every year you gotta pay your graveside or some shit.

Dan Austin: [3:04] Oh, yeah. It's going Well, I

Eric Rubin: [3:05] think more and more people are doing, you know, cremation. Yeah.

Dan Austin: [3:11] Yeah. That's the business.

Dylan Koch: [3:12] Think that's true too.

Dan Austin: [3:13] That's super scalable too.

Mike DeHaan: [3:15] It's super It's

Dan Austin: [3:16] well, dude, it's It's super scalable.

Mike DeHaan: [3:17] It's a much easier business. It's a one time purchase. You buy the oven. Yeah. Right? And now it's just a marketing channel. You know, you you can pull motivated lists. It's not very ethical. Right? But you just go to like the

Dan Austin: [3:29] the ICUs Let's and this for dig into this. Let's pull forward.

Dylan Koch: [3:33] There is a seniors list on on profits Dude, and

Dan Austin: [3:37] Dude, that's what you do when you're walking senior when you're walking to senior properties, you bring your other business, your side hustle, which is your cremation business. So you just

Dylan Koch: [3:45] leave your business Well, card

Mike DeHaan: [3:47] this like a part of life that happens though? You know, it's like when you you start to cross a certain age, you start to get like these mailers for like triple a, like some of this stuff that like people get. Yeah. Do you think that like when you cross an age, you start to get like a cremation services, like into those mailing cycles for those companies? AARP? In your AARP. It was AARP. That's what I'm talking about. Yeah.

Dan Austin: [4:09] Yeah. They open up AARP and there's a cremation service. It's

Eric Rubin: [4:12] gotta be.

Dylan Koch: [4:12] Do you do you think do you think

Mike DeHaan: [4:14] they have, like, cold callers, like Filipinos that are like my god. Hello, sir. Do you have kids after you die?

Eric Rubin: [4:20] They have an AI caller doing it? Yeah.

Dylan Koch: [4:23] Man, I hope not. This is like this is the whole problem. It's like private equity getting

Mike DeHaan: [4:26] too involved in this. Yeah. When when when private equity gets into the death industry Oh my god.

Dan Austin: [4:32] They'll be there.

Mike DeHaan: [4:33] You know? They'll be there

Dylan Koch: [4:34] for sure.

Eric Rubin: [4:35] I'd surprised if they weren't already unless they figured out that like, hey, it's, you know, the it's it's going in the other direction.

Mike DeHaan: [4:43] I don't I don't

Eric Rubin: [4:44] see They're it trending typically gonna buy cash flow though. Right? So I don't know I mean, it's it's not exactly a subscription model. You know what I mean?

Mike DeHaan: [4:53] Yeah. Mhmm. But Well, it yeah. It's a one time. But, like, I would say there's probably potential for repeat business because people tend to like, if their couples go to the same place, You know? So, like, like, every one customer is basically too.

Eric Rubin: [5:10] So you're doing it like it's it's all referral business. It's all all referral business.

Mike DeHaan: [5:16] Like, if if anyone has any insight on this, you should send me an Instagram message at Mike underscore Invest. Because I'm actually, like, fascinated now that we're thinking about it. Because I I'm sure there's a whole model there that I don't know. Like like my extent

Eric Rubin: [5:28] of knowledge emotional base. And that if you can get people when they're at an emotional height, that's Mhmm. Like weddings, funerals. Like, I remember whenever I don't know. Well, I don't know how many funerals you guys have planned, but, like, they're they'll show you all the things and they're like, well, you know, and it's all going under the ground if if somebody's getting buried. Like, it's all going under the ground. So you're never gonna see it again. You're never gonna see those clothes. Hopefully, you're never gonna see the clothes, the and then there's the capsule that the casket goes inside of. So honestly, that casket is never gonna be seen. It's gonna be seen Yeah. Inside of the capsule that keeps stuff from like

Dan Austin: [6:10] Interesting. I didn't know they had it outside of the casket.

Eric Rubin: [6:13] Yeah. Yeah. Because otherwise the casket rots and then it caves in, like the hole caves in.

Dan Austin: [6:18] I just assumed that's what we all thought would happen, and that's just

Eric Rubin: [6:21] part part of the cycle.

Mike DeHaan: [6:22] It is like a big, like, Interesting.

Dylan Koch: [6:23] Yeah.

Mike DeHaan: [6:24] But yeah. I don't know. My I I watched that show Six Feet Under many years ago on HBO, which is a great show. That's the extent of my knowledge. It's about a family that runs like a funeral home.

Dan Austin: [6:35] Oh, theater parlor?

Mike DeHaan: [6:37] Yeah. It's pretty good show. It's regarded as a one of the best shows ever. So

Eric Rubin: [6:41] I used to get I used to get mistaken for Eric Balfour sometimes.

Mike DeHaan: [6:46] Who?

Eric Rubin: [6:46] Balfour. Was Eric Balfour? Wasn't he in that show? Am I mistaken?

Mike DeHaan: [6:51] Oh, is that one of the actors? Man, if you're talking about, like, people like that, I like, actors, singers, I am so bad at that case.

Dan Austin: [6:57] Oh, I could see it. I could see it. Wow. Especially if you you got a pencil mustache.

Eric Rubin: [7:04] Oh, I'll see my Yeah.

Mike DeHaan: [7:07] I I don't know if he's in that. I think you're oh, actually he is. Yeah. For four four seasons. He's also in Texas Chainsaw Massacre.

Dan Austin: [7:14] Wow. He is pretty good looking.

Mike DeHaan: [7:16] Yeah. But, anyways, so as of today, SpaceX make a nice little correction down 30%.

Dan Austin: [7:25] I don't know if that's the real number. I don't know if it Well,

Dylan Koch: [7:27] that's Well,

Mike DeHaan: [7:29] from his pee. That's That's what that's what Dylan said. So for all the

Dan Austin: [7:33] people that were also said it would crash last week.

Dylan Koch: [7:36] No. Go back

Eric Rubin: [7:37] and listen. No. Didn't.

Dylan Koch: [7:38] Well, according to what you said.

Dan Austin: [7:40] According to

Mike DeHaan: [7:40] everyone the comments, you age like milk, Dylan.

Eric Rubin: [7:44] Yeah. You were wrong. Yeah. Well, I think because I'm sorry. Go ahead.

Dylan Koch: [7:49] No. Go ahead, Rick. Go I wanna hear you.

Eric Rubin: [7:50] I was gonna say I heard something about SpaceX. The IPO is like, if you're buying it, you're betting because the cash cow is Starlink and then it's, renting out the data centers, or space to other folks that are gonna use the data centers. And then you're betting that he's gonna be able to get the Starship thing to work and he's gonna be able to build data centers in space and Elon won't die. Those are the things that have to happen order for this to work out

Dylan Koch: [8:19] for you. I saw a tweet that basically said like, oh, I missed out on Tesla. I'm not going to miss out on SpaceX. And so that they were a net buyer. And Mhmm. If that is your if that is your train of thought, then I I don't I would not take other recommendations from you for stock picking. Because Tesla

Dan Austin: [8:35] taking your recommendations because I missed out, bud.

Dylan Koch: [8:39] Well, is this is a good segue. My first thing first thing I wanna say first is that Tesla IPO ed somewhere around a couple billion dollars. So they have the runway. As SpaceX SpaceX IPO ed, they're already at the seventh largest company in the world. So to presume that same kind of growth, they have to be over a $5,000,000,000,000 company within a couple of years, which is still only like a what is that? Two and a half, three x? Like

Mike DeHaan: [9:04] Yeah. But they're the

Dan Austin: [9:05] first of their kind. They're the first space company that we

Dylan Koch: [9:07] Is it? No. It doesn't it doesn't make any any sense in any kind of valuation profit metric at all.

Dan Austin: [9:13] Can I say one thing to just disagree with you? Is Sure. Nobody can say that about Bitcoin either, but you believe in Bitcoin.

Mike DeHaan: [9:20] Oh, I fully agree

Dan Austin: [9:22] with that. Because there's not even any

Eric Rubin: [9:24] history, dude.

Dan Austin: [9:25] There's not even any history on Bitcoin.

Dylan Koch: [9:27] There's history since 2009. Oh

Eric Rubin: [9:31] my god, dude.

Dylan Koch: [9:33] What? Were

Dan Austin: [9:33] you born in 2009?

Mike DeHaan: [9:35] How much how much revenue does Bitcoin produce?

Dylan Koch: [9:38] Well, that's okay. So then you're talking about a a stock versus and that's the same argument with gold. And gold's the, like, the has a $20,000,000,000,000 asset.

Eric Rubin: [9:45] No. I got gold in my watch.

Mike DeHaan: [9:46] Yeah. Yeah. But And well, gold actually has like a tangible use that people use all the time in electronics.

Eric Rubin: [9:52] Hilarious. Know. Kidding. Only because we agree that it's worth that it's valuable. Right.

Dan Austin: [9:58] Right. I mean, I get you

Eric Rubin: [9:59] But you could use gold for things. Like, don't they make like

Mike DeHaan: [10:03] Dude, I guarantee these are your computer that you're on right now has gold in it.

Dan Austin: [10:06] It's got gold in it.

Dylan Koch: [10:07] There's there's definitely a

Dan Austin: [10:08] physical application. But Dylan, if you just get rid of that and say it's a store of value, people think Elon's a store of value.

Eric Rubin: [10:16] If they were to make that bad, that's just mean, just Hold on. Are we gonna be about Graves and Elon? Did we just Did we just bring that full circle?

Dan Austin: [10:26] We did. That's amazing.

Dylan Koch: [10:28] Point I I think I wanna make that when it comes to investing in general is that there is, a book by Annie Duke Annie Duke a couple years ago called Thinking at Bets and she was a professional poker player. Mhmm. And all all it means is is like, the outcome doesn't make that doesn't always mean that you made the right decision.

Mike DeHaan: [10:45] Mhmm.

Dylan Koch: [10:46] Right? Just be like Correct. You could be placing against the 16 in blackjack and then like if

Dan Austin: [10:49] you Yeah.

Dylan Koch: [10:49] Still like you see what I'm trying to say? Yes. So that's my analogy with the SpaceX stuff. Like, yes, people would be like, oh, I made $10.15 grand and like, because of that, I made the right decision. And to me, that's not how you should look at investing in general.

Eric Rubin: [11:04] Is that to focus on the processes, not the results kind of thing? If you do the processes right enough times in a row, like, you'll win versus Yeah. Just do the things that have

Dylan Koch: [11:12] a higher probability of working out in your favor. That's the gist.

Mike DeHaan: [11:16] I mean, if I can get if

Dan Austin: [11:17] I can be honest, anytime I've ever bought a stock, I did not follow the process because I don't know what I'm looking at. I'm just like, I think that's a good company. I'm gonna gamble with it, I guess. I mean, I didn't buy SpaceX. I'm not I'm not on it. But, anytime I bought a stock, like, I don't know what I'm doing.

Eric Rubin: [11:33] Also, you have to know when to sell. You have to know what the season is. I had Biogen stock for so long and it went to the moon during COVID. And I was like, well, I'll take some chips off the table, but this is probably gonna last a while. And then like a year later it was yeah. It was it was half of what it was. That's true.

Dan Austin: [11:56] Yeah. Buying is right the right time is important. Selling at the right time is equally important.

Mike DeHaan: [12:00] This is always why I've had difficulty, which is like just viewing investing in general is because I don't understand how to realistically do it without it always being somewhat of a gamble. You know, think that's why people say like if you do it over a long enough period of time, things will go up. But really what they're saying is well, the dollar will devalue. So yes, if you hold like a physical asset, it will go up more than cash. Right? But like that's why I've always been pretty big on reinvesting in business is because you actually have a direct impact on what the result is. Yeah. That's fair.

Eric Rubin: [12:32] Oh, that that leads me into a big point I was gonna bring up. I'm sorry. I'm I'm such a fan. I'm a fan that gets to be on the show. Yeah. Drew was talking about y'all were talking about where to put money. And I think that comes down, you know, as a commercial real estate nerd, I think you always got to keep an eye on your discount rate. And somebody that was asking me about wholesaling recently, she has a high income job. And I was like, well, what are you looking to make? She was saying that she was looking to make $5 a month in a side hustle. And I was like, well, think of it like this, like if you put money in a high yield savings account, probably 3%. If you put it into something else, maybe 10%. If you got another certificate or you did another thing in nursing, then you're probably, I mean, that's probably gonna be even better. And then is the time and energy and money involved in wholesaling gonna beat or equal that? And is it something you already know?

Mike DeHaan: [13:34] And and the answer to that 99% of the time is you should not do wholesaling to make that extra side money because it fucking sucks. It's a lot work. It's outside your Yeah.

Dan Austin: [13:44] It's not aligned with your skills. Yeah. With your skill set.

Mike DeHaan: [13:46] I think it's something that I've really sort of changed my view on since I started making content now, what, five years ago, is for most people, if you have a high income w two, you should just do that. Right? Like like so many people, there's like a whole mantra around like leaving that and what that looks like. The failure rate is massive. And honestly, it's because just because you have a high w two doesn't mean that you're capable of like making your own money. You know? That's

Dan Austin: [14:15] a point.

Mike DeHaan: [14:15] You were capable of getting an education and developing a network that was good enough to get you into that position to get that job.

Dan Austin: [14:22] Right.

Mike DeHaan: [14:22] And that is very, very different from creating your own income and your own value, which a lot of the time is the people that did not do great in school and did not necessarily

Dylan Koch: [14:32] have that.

Dan Austin: [14:32] Not typically the doctors. Right?

Mike DeHaan: [14:34] Yeah.

Dan Austin: [14:34] Yeah. Think that there's some value in in when you see somebody that, their success rate, whether that's in like corporate business or they did really good in school because they became a doctor or lawyer. They had a high capacity. It's usually because they actually have a really high capacity to conforming to whatever the boxes they're in and then accelerating. Right? Like you you see the CEO of a lot of these companies. You have some exceptions out there, but a lot of times for the thousands of companies out there where there's a CEO making 2 or $3,000,000 a year, never heard of them. Like, they're just really good at playing the corporate politics and all that sort of stuff. Yeah. They're not. They're never going to when there is no box to fit into, like there's no template to be good at, like that's where they're gonna fail. So a lot of times in entrepreneurship, that's why they're not gonna actually do good. And so they should just keep their $2,000,000 a year salary at corporate, you know, ABC. Yeah.

Mike DeHaan: [15:22] You know? But instead what they do is, you're right, Eric. They're like, woah, what if I wholesale houses? I could I could pay $10 a month. I'm like, you're already making $80 a month doing your fucking job. Just do that. Like, I would love to swap places with you, honestly.

Eric Rubin: [15:35] Or give me buyback or something, and then that triples your income. Yeah. I mean, also comes down to businesses wanting to buy the building or a building to put their business in. You know, I think, you know, there if you look at it at discounted cash flow method, like, there's a way of figuring out what the right decision is. But you don't have to go on gut. And, I mean, typically, if you're looking for that's gonna be more of like a tax play than it is an income play. Because if you put that capital into your business, you're probably gonna

Dan Austin: [16:05] get way higher Yeah. That's a good point too.

Dylan Koch: [16:09] A way Can you yourself a little bit more as a business like for renting it out as an expense. Right? Does this help with like your p and l?

Eric Rubin: [16:19] Oh god. I don't know.

Mike DeHaan: [16:20] I mean, yeah.

Dan Austin: [16:21] Yes you can from yeah. Like if you go buddy, you can't use that on bank records because it's not like arm's length. So like if you were to try to go do a refinance, they're not gonna give you the higher valuation based on that.

Dylan Koch: [16:30] Yeah. Sure.

Mike DeHaan: [16:31] But you're right.

Dan Austin: [16:31] You could. Know?

Eric Rubin: [16:33] If you're getting a commercial loan where you're the, you know, it's an owner occupied commercial loan where you're the main and then it's probably like a percentage of the square feet. If you're over a certain amount where you're written out, you know, where it's like a multi tenant strip or something like that. Mhmm. Alright. I'm gonna shut up now. I I feel like I've I have a question pent for you. Up stuff for so many shows.

Mike DeHaan: [16:57] Now I

Eric Rubin: [16:58] I'm like, oh, and I gotta lay this in and all this.

Dan Austin: [17:00] Before you blow your wad, I do wanna hear so I I do wanna hear, I wanna hear because I think it's actually fascinating. Your the the micro salons that you've done. Uh-huh. I wanna hear about this because I think that's a cool thing.

Mike DeHaan: [17:13] Micro salons? This is a real thing? Yeah.

Dylan Koch: [17:15] Did you

Mike DeHaan: [17:16] know about this? Okay. Yeah.

Eric Rubin: [17:16] No. They're they're shipping container suites. They're it's they're four wide and three high. So they're 12 on each side. So a total of 24 in a standalone building on the side of it is in this development. And we found that, you know, finding the highest and best use is is what I'm here for. So there were some salon suite tenants in there. And then we just found that that was kind of the best use for it. It was just making the adjustments for that use so that so that people could use it

Dan Austin: [17:52] just because Is that like square footage based on like the amount of like a typical like salon person or salon at whatever they would pay for like a chair?

Eric Rubin: [18:02] It's we're probably somewhere in between a salon and a salon suite because in the salon suites, they're typically gonna be renting space from a landlord. Then they're gonna carve it up into like, I don't know, a hundred, two hundred square feet. And then they're gonna, you know, depending on where how they do plumbing, all that kind of build out stuff. And then they're gonna rent that out and they're just kind of taking the arbitrage. Like, know, so all the all the big franchises that are PE backed or acquired, you know, Blackstone or some of the big guys own. What we do is they're 320 square feet. So it's eight by 40 just because that's the size, you know, that's the rough dimensions of a a shipping container. And then you lose a little bit because, you know, we've got to have fire rated drywall. So it's double five eights. It's, you know, it's got wood framing instead of like the metal framing. Typically that's because you're gonna do the spray foam and otherwise it would like push that metal framing out. And then just making sure the only issue with it is just kinda you wanna have enough control so that nobody does anything that's gonna, cause a problem, but you want them to have freedom to, you know, kinda do have their own business.

Dan Austin: [19:15] Yeah. That's pretty cool. And it it's just it rents more than you would per square foot for any other like retail or commercial stuff?

Eric Rubin: [19:23] Yeah. I mean, it's the sir, you need to have something that's gonna be a destination use because you're not gonna have the signage and the visibility that you would need for, I don't know, maybe, food like F and B is probably gonna need more like visibility and signage. But if your hair, if your nails, if your massage, if you're, you're an injector doing any of those kinds of things, like people aren't doing that on a whim. They're making an appointment and they're coming to you. They will find you. So you don't necessarily need,

Mike DeHaan: [20:00] Street you traffic. It makes sense. It's like a modern strip mall. Right? Like, honestly, if you drive past some of the old strip malls and there'll be like, you know, Kathy's Nails, like, freaking talked back there. No one's going to Kathy's Nails because she drove by, you know.

Eric Rubin: [20:13] I mean, back in the day, like a strip center, you know, they didn't want too much food and beverage because that's gonna be parking intensive. And, you know, they would want the big box stores. They're gonna want all the things that are going out of business now. But instead like all of them, now that I'm on the spot, I'm going to, I'm going give it a shot, but I'm probably going to forget them. Like the four F's and you got to just forgive one's a pH physicians, food, fun, and what's the other one? Something else. But it's essentially people nails, everybody wants nails, everybody wants food, everybody wants something that, you know, people have to come to something that, you know, the, you know, just I basically want a vape shop.

Dan Austin: [20:57] I want a drive through vape shop.

Eric Rubin: [20:59] Oh. Nobody nobody wants to have a vape shop or a Really?

Dan Austin: [21:03] It seems like they they do well.

Dylan Koch: [21:05] Make that mark of of like, all those areas

Dan Austin: [21:08] like traffic. Absolutely. That's what

Dylan Koch: [21:11] I wanted to drive

Dan Austin: [21:12] through. I wanted to be drive through.

Mike DeHaan: [21:13] Dan, we're in the Pacific Northwest though. These guys are all in like the South, the Midwest. Where we're at it's different. Because like classy people here vape and do cannabis.

Dan Austin: [21:22] Yeah. Exactly.

Mike DeHaan: [21:22] Like, like, you drive down the street, like you should see like, there's like, there's like decent cars and stuff going to the cannabis shops. It's not like in the bad parts of town.

Dan Austin: [21:30] Yeah. No. Yeah. You're right. The main intersection on the North Side in Spokane where Mike I live has a new paw shop.

Dylan Koch: [21:35] Is Fentanyl across Leaners is No.

Mike DeHaan: [21:38] No. That's that's downtown. Yeah. No. You sound you sound ignorant. You're you're basically saying like, you know, all all people in, like, third world countries are poor. It's not true.

Dan Austin: [21:49] There's a few wealthy corrupt people. Yeah. There's a

Mike DeHaan: [21:51] few wealthy corrupt people. I'm in

Eric Rubin: [21:53] Atlanta, so these ladies doing hair, like, this is the least of bed. Like, I pull up. I've got the worst car in the lot.

Mike DeHaan: [22:00] You know what they also probably do? Smoke vapes, Eric. If you had a

Dylan Koch: [22:04] vape shop in your store. Yeah.

Mike DeHaan: [22:06] They would have a recurring recurring business there. They'd be walking over there.

Eric Rubin: [22:09] I do.

Dan Austin: [22:10] I I believe in all the addictive substance. Like, I think nicotine is an amazing product, like, personally. And I know people that use Yeah.

Dylan Koch: [22:17] This is your next your stock picking should just be Peter Lynch style or you just invest in things like you think you know, so to

Mike DeHaan: [22:23] say Right.

Dylan Koch: [22:24] Vices. Like nicotine.

Dan Austin: [22:25] I I am. That's what everybody says, dude. They're like, well, I'm stocking up on food in case the world ends. I'm like, nope.

Dylan Koch: [22:30] I'm stocking

Dan Austin: [22:31] up on cigarettes and alcohol and bullets. Everybody needs those.

Eric Rubin: [22:34] Doesn't coffee and olive oil have like the markups of like illicit drugs?

Mike DeHaan: [22:41] Oh, probably more. I mean, like, I can't imagine some of that stuff. That's actually something you should stock up on if you can like keep it fresh case shit gets really bad. Like, well, I was gonna say coffee. Like, can you imagine if like our entire supply chain collapses, how much like addicts would pay for a couple of good coffee?

Dan Austin: [22:57] Yeah, dude. Like a

Mike DeHaan: [22:58] shit ton.

Dylan Koch: [22:59] I would pay a lot. I'm a coffee addict.

Mike DeHaan: [23:00] And that The Last of Us, you know, it's a like, dystopian

Dylan Koch: [23:04] Oh, yeah.

Dan Austin: [23:04] Sort of

Mike DeHaan: [23:05] a storyline. Gotcha. There's like the whole thing is the the main guy, Joel. He, like, fucking kills people for coffee, dude. He, like, goes so far to get this He'll sell, like, anything for it.

Dylan Koch: [23:15] What was the this is kind of on topic, but not. What was the there 's a guy in GoBundance, a group who had a coffee syndication, like a farm out in like Peru

Mike DeHaan: [23:24] or Chile. Green the green coffee company.

Dylan Koch: [23:26] Yeah. How did that end up going? I don't

Eric Rubin: [23:28] know. It's

Dan Austin: [23:29] still going. It's still

Mike DeHaan: [23:30] it's still going. I mean, there's a lot of people who say it's going great. There's a lot of people who are like

Dan Austin: [23:35] I think they're smoking hopium Yeah. Like they're trying to go, but So It wasn't a pyramid scheme from

Eric Rubin: [23:40] what I know.

Mike DeHaan: [23:41] No. It was a real company.

Dan Austin: [23:42] Yeah. Just wasn't Yeah. It just hasn't done as well as maybe people had hoped.

Mike DeHaan: [23:46] Where where they got wrecked was by all the tariffs and stuff. Right?

Dan Austin: [23:51] Guess they shouldn't have voted for Trump.

Mike DeHaan: [23:53] Yeah. But the funny thing is is most of biggest investors were like the biggest MAGA folks.

Dan Austin: [23:57] Were they?

Dylan Koch: [23:57] Yeah. Of

Mike DeHaan: [23:59] course they were.

Dan Austin: [24:00] Yeah. That's

Mike DeHaan: [24:01] what They're they're they're rich white dudes in their sixties. What do you expect? Good point.

Dylan Koch: [24:05] That looks legit. I'm not gonna lie.

Mike DeHaan: [24:07] No. They're they're legit. No. I think

Dan Austin: [24:08] I think they're legit. I just don't think it's taken off as much because they've had to do several rounds and I think people kind of are getting bummed. Yeah. My That's the problem.

Eric Rubin: [24:17] My aunt had some friends in Jamaica and you're aware I don't know how true any of this is and it's going from memory. But, so let me preface with that. But, you know, like Blue Mountain Coffee in Jamaica is super famous.

Dylan Koch: [24:29] Okay. Did not know that. Yeah.

Eric Rubin: [24:31] Did not that. Yeah. You're not crazy, Eric. Alright. I am regretting getting into this because I'm getting some fable faces. But, apparently, they also have a coffee farm there and from the, climate change, like I guess they're I already don't believe some kind. It went from their their farm being okay to being better than, everything else in Jamaica. So I guess they're, you know, they're they're the premium.

Dan Austin: [25:05] They're the premium stuff. They're better than Kona coffee Right?

Eric Rubin: [25:09] Like we can we can pull that whole.

Dan Austin: [25:12] Dude, they don't edit anything I say that's stupid. You're keeping it. We're keeping all your stuff in too. Alright. Max isn't doing any me any favors.

Mike DeHaan: [25:22] Are you are you from Atlanta, Eric?

Eric Rubin: [25:24] No. I, I was born in Mississippi and I grew up in Tennessee. And then I moved to Los Angeles to

Mike DeHaan: [25:30] Gotcha.

Eric Rubin: [25:31] To be an actor.

Mike DeHaan: [25:31] I I was gonna say, because you don't have like the Atlanta accent. Like the the Bill Clinton accent, which is so Oh, he's from Argentina.

Eric Rubin: [25:38] Dude, you can't treat

Dan Austin: [25:39] them all as the same. They're they're different

Mike DeHaan: [25:41] That's funny.

Eric Rubin: [25:42] There's the Yeah. That's what was about. Mint juleps and all that.

Dan Austin: [25:45] Mint juleps. Yeah. That sounds good.

Mike DeHaan: [25:48] It's fine. We have a sales rep that lives on the East Coast, and she was just in Portland for something. And she she was back online today working. And she was like, it's crazy. I'd never been to Pacific Northwest before. All you guys look exactly the same, and I now understand why you guys talk weird. And I was like, wait, what do you mean we talk weird? Talk weird. Tuesday's like, there's like a Pacific Northwest accent that I didn't realize until I went there, and you guys all talk exactly.

Dan Austin: [26:16] Oh, interesting. So much flannel. Yeah.

Eric Rubin: [26:18] So much flannel. Flannel.

Dan Austin: [26:20] Facial hair, Patagonia. Stupid boots.

Mike DeHaan: [26:24] Yeah. Well, The US, I mean, it's it's a bunch of different countries all combined into one. I don't think people really realize how massive that is. Well, something that's been pretty funny, the the World Cup's going on right now. And I've been really into this content of, like, people from these various countries that are, like, filming content about visiting The US. Oh, have some of this. Yeah. So you have, like, like, Japan is playing their games in Texas. So you have all this content of, like, Japanese people, like, going to barbecue places. And, like, they speak, like, no English, and all of sudden they're getting, like, this freaking rib that's like this big and they're like, what the hell? They're sort of like reacting to it and doing stuff.

Eric Rubin: [26:59] There's some German dude that went viral here in Atlanta for

Mike DeHaan: [27:02] Through the Southeast. I've been seeing that. He he basically had like they called like the classic American day where he went to, like, Texas Roadhouse for lunch. Like, he had, like, all like, all this, like, random stuff. Think he went to, a strip club or something. And then he went to, like, the Waffle House at, like, 2AM. That is the

Dan Austin: [27:20] end the American day

Eric Rubin: [27:20] than the Southeast. I think that's been way before.

Mike DeHaan: [27:23] Right? Yeah. You know, it's been what's made me realize though is how diverse The US is, which you know, but it's interesting seeing that from the lens of people that come from somewhere that I would say is like equally as diverse. Right? Because then you have people that are coming to like the Northwest, you know, and like all this, like the countries that are up here, I would say there's already a big presence of those countries. And so it's not really that noticeable. But like Japan to Texas is about as big by the by the economy as it gets.

Dan Austin: [27:54] Yeah. Yeah. You come to you come to Seattle or, you know, the similar to West, like, and you're Asian, like, be just think you're here.

Mike DeHaan: [28:00] Totally. We're we're already East. I I mean, like, Seattle and San Francisco are some of the largest Filipino populations in the world. Really? Oh, yeah. There's tons of them there. I mean, of my friends at GU were Filipinos.

Dan Austin: [28:13] Because we don't have a lot of

Mike DeHaan: [28:14] sun over here. Is that is that why? They wanna break from the sun in The Philippines?

Dan Austin: [28:18] Well, no. Have you ever seen, like, in particular in, like, Asian cultures where they don't let their skin, get sun on it because they're protecting it like smart people?

Mike DeHaan: [28:27] Well, also, you get less hot. That's like a

Dan Austin: [28:29] Well, exactly.

Eric Rubin: [28:30] Well, I I think that's more of a class thing. Cause then they've got like bleaching creams and stuff in Thailand and Cambodia. I would see them all over the place. Like

Dan Austin: [28:38] They do like more fair skinned. They do like more fair skinned people.

Eric Rubin: [28:41] I was who didn't work outside. I mean, in America, was the same up until recently.

Mike DeHaan: [28:47] What's Dylan doing? Dylan is all over the place.

Dylan Koch: [28:49] No. I'm looking, something up real quick. I needed my phone.

Dan Austin: [28:54] His computer does not move with him.

Eric Rubin: [28:56] That's not distracting at all.

Dan Austin: [28:59] You're not having your best day today, dude.

Dylan Koch: [29:01] No. No one watches the videos anyway. They just listen in their car.

Dan Austin: [29:04] See? They watch your videos.

Dylan Koch: [29:06] That's what

Mike DeHaan: [29:07] you think. They watch your videos when you, when you age like spilled milk.

Dan Austin: [29:11] Okay. Anyways, let's talk about something important, I guess, that we should chat about. I don't know. How's that Home Depot stock going? I feel like that's important to know how the economy is doing.

Mike DeHaan: [29:20] Home Depot stocks? That's the Hold on. Matter.

Dylan Koch: [29:23] Atlet Eric, do you know this Jacob Navajo? It's n a v I a u x. He's a Atlanta

Mike DeHaan: [29:32] Sounds like a real person.

Dylan Koch: [29:33] Jacob Navajo. He is. He got roasted on Twitter, because he talked about retrading. Like basically purposely Oh, wow.

Mike DeHaan: [29:42] Saw this guy. Yeah. He was he was he was bragging about how he gets an extra 10 to 20% per deal, and how he doesn't see it as unethical because he only does business with that person once.

Eric Rubin: [29:53] Yeah. Wow. That's why it's not unethical?

Mike DeHaan: [29:57] He said, yeah. If I did business with them all the time, I wouldn't do that. That's bad for business. But if it's just one time, who cares? That was like a

Eric Rubin: [30:03] good to argue. Just not he doesn't. Like, would like for him to Google the word ethical.

Dylan Koch: [30:11] Yeah. That would be

Eric Rubin: [30:12] helpful. I don't know. Whenever I was doing a lot of off market stuff like retrading was, it was just the worst. I mean, and it was You

Dylan Koch: [30:20] only have to do it if it's justifiable. Like if you have a legit reason, if

Dan Austin: [30:23] this Even if you have a legit reason, it sucks. Like you're just a

Eric Rubin: [30:26] cash Especially ticket, like because, you know, some, they're like, oh, we, we gotta close before the next payment. So we want to close next week. And then so you're rushing title, you're, you're doing all the things as quickly as you can. And then, you know, they feel like, oh, well you're trying to retrade last minute. And that was just I

Dylan Koch: [30:43] just didn't know, like, I feel like all the wholesalers and off market people know each other in Cincinnati and obviously Atlanta is much, much bigger. So I just didn't know if you being based on a local market, if you're like, yeah, I

Eric Rubin: [30:53] know that guy. Atlanta, I don't know if it's more so. I know everybody makes fun of people for saying, oh, this is the most competitive. This is the most sketchy. But man, a lot of people I feel like they went from they started wholesaling with a with a decent rap sheet.

Mike DeHaan: [31:13] Oh. You you can go get your baby Dylan. It's okay.

Dylan Koch: [31:17] We're we're good. See if

Dan Austin: [31:18] she stops. Yeah.

Mike DeHaan: [31:19] Is she?

Dylan Koch: [31:21] That's the modern day. I'm gonna have to unplug that.

Dan Austin: [31:23] Yeah. Turn it off. You don't need that thing.

Mike DeHaan: [31:25] Yeah. Yeah. I did. Just like

Eric Rubin: [31:27] Yeah.

Mike DeHaan: [31:27] I thought you were a crying out guy, Dylan.

Eric Rubin: [31:29] Yeah. Is he? Is that what you're supposed to do? Because I'm I I'm I'm not a father, but I'm getting anxiety.

Dan Austin: [31:36] No. Are you on are you on your way to being a father?

Dylan Koch: [31:39] Or are

Dan Austin: [31:40] you are you oh, you're just getting No. Not even close. Yeah.

Eric Rubin: [31:42] Just from like hearing the baby and I'm like, should should we do something? Gosh.

Mike DeHaan: [31:46] I can do something. We're we're all all fathers at this point. So it's fine. They'll they'll be fine. But I mean, to to the point of that guy though, like, right now just with how tight the industry is, there's so much sketchy stuff that's going on. I mean, we see it a ton on the lending side too. Like, like and and the guys are just getting more brazen is the thing. Like that guy that stuff's been going on forever. But the fact that now he's so disconnected from the big picture that he's kind of like bragging about that as like the way that he's making business work right now is stupid. But like on the lending side, we've seen such a huge uptick, would say over the last eight months of like fraud and like different things that are just so blatant. It's crazy. We literally had a double closed deal last this past week that we canceled at the last minute because Dan did a quick courtesy search for this guy. Because he just like didn't feel right. And literally that day he had been indicted for fraud, like by by the Department of Justice. This is like a DOJ thing that they posted, this dude. That day, right? And then we canceled that loan. And then funnily enough, Dylan calls me and he's A friend of his gets reached out to by this guy that says like, oh, this company, SLA Capital, they ran out of money to be able to do my loan. Can you do a double close for me? No shit.

Mike DeHaan: [33:06] So the

Dylan Koch: [33:06] I didn't know that borrower points. Yeah. Like he the lender or not the lender, the borrower. Was like, I'll give you five points just for this loan for I need it for five days. That that should be a red flag in and of itself.

Mike DeHaan: [33:18] Absolutely. That's also not true that it was gonna take longer than that because the way the recording works in this county is it was gonna take two weeks. So So the guy's a fucking liar. Yep. You know? And we're just

Dylan Koch: [33:29] whole world is. Yeah. Because like it was I think the guy the borrower messed up because he mentioned SLA Capital.

Eric Rubin: [33:35] And then who Dumb.

Dylan Koch: [33:36] My friend was was like, wait, Dillon knows SLA Capital and then basically connected dots. But these are legit like four different states all involved here that aren't even Yeah.

Dan Austin: [33:47] I should, put it out on the private lender channels, and say look out for that guy because I didn't know that piece that he had reached out, but I'm very glad because it was the morning of like we were gonna I was gonna wire the funds. I was like, something just doesn't feel right. Like his background check, he had excuses for everything. And it was one of those things where it's like, the data was telling me to not say yes, but the guy, like he was a good talker and all that stuff and I just did not feel right about it. And then so I did a quick random Google search, which you should honestly do anyways for your borrowers just to see. Yeah. And yeah, it was like Gemini just had I had to have Gemini like kinda curate all of the things that he was going to like he was in lawsuits for, you know? So it's just like, you know what? I don't need your money.

Dylan Koch: [34:29] If some of these people spent the amount of effort they did in actually just making money in an ethical way, then they would they wouldn't have to lie so much. Like the amount of effort to they do what they're doing now is crazy.

Dan Austin: [34:44] Like Yeah.

Eric Rubin: [34:44] You're you're working harder.

Mike DeHaan: [34:46] I know. And web of lies gets so huge across so many people. Never going to keep it straight.

Dan Austin: [34:51] And the risk is so high.

Mike DeHaan: [34:53] Or like some of the silly stuff people do when like to try and avoid to do the right thing. Like we've had people like fake bank statements and do like the sketchy stuff, like with their operating agreements and all these kinds of things. And it's like, you realize if you had just done it correctly instead of like trying to like white it out and make it look the same, it would have been fucking bad. Like, what are you doing? Like, just open the new bank account. Like we told you, it's not that big of a deal. It takes ten minutes.

Dylan Koch: [35:18] Did you ever like this, like, like, so do you just wanna stop now or do you want me to turn your bank your fraudulent account into the authorities? Like, to scare the shit out of them. Like Yeah.

Mike DeHaan: [35:27] What what we typically do is, like, we'll, like, say, hey, just so you know, like, we know what you're doing. Don't do that. Like like like, it's it's like it's it's kinda like getting a slap on the wrist from, like, a cop if you've been speeding. But they're like, hey, know, slow down.

Eric Rubin: [35:43] Yeah. Well, often people don't realize that you see this a thousand times a day. Exactly. And they think they're the first one to ever do whatever this thing is. And it's it's like, I've I've seen this a thousand times.

Mike DeHaan: [35:57] Or Yeah. Or the worst is when people like very brazenly just like lie upfront and they're like, are you sure that that's the truth? And they go, yes. And then you catch them out like a week later. Like, what are you doing? Like like like, how many, like, weird converted properties we've had? Or like, so this isn't a co living house. This is a standard rented property. Like, yes. You promise? Yes. And then you show up and like, okay. Then how can you have bunk beds in every room? Every room has its own fucking thumbprint lock. Right?

Eric Rubin: [36:26] There's like there's like eight different room turned into a bedroom. Exactly. Running to it.

Mike DeHaan: [36:32] Yeah. And they're like, oh, just some kids I rent to. Like, I don't know what they're doing. I'm like, get the get out of here, bro.

Dan Austin: [36:37] At least. I'm making a better lie, dude.

Eric Rubin: [36:39] I want to ask you guys this, and maybe this is just in the South, but whenever when somebody leads with religion, is that just like Yeah.

Dan Austin: [36:49] Red flag.

Dylan Koch: [36:50] It's a huge red flag.

Dan Austin: [36:51] Yeah. Always a red

Eric Rubin: [36:52] Or it's like, I believe in whatever this is and, you know, whatever their persuasion is.

Dan Austin: [37:00] Yeah.

Eric Rubin: [37:00] That man, I hope that gets out the guide off very condescending.

Mike DeHaan: [37:05] No. No. No. We're from the Northwest. You don't have religion up here.

Dylan Koch: [37:08] So we're talking about that all too. Yeah.

Mike DeHaan: [37:09] Yeah. You're

Eric Rubin: [37:10] good. It's just like man. Like, I get a lot of it here. Oh, I bet. I bet.

Dan Austin: [37:16] Or the guy that says, I'm a straight shooter, man. I don't tell lies.

Mike DeHaan: [37:19] Oh, my god. Or or or they they have like a a name that's like integrity Properties or something?

Dan Austin: [37:26] Yeah. That's the best one. Yeah. Integrity Contractors. Something like that. Yeah. Yeah.

Mike DeHaan: [37:31] Yeah. Yeah. Totally.

Dan Austin: [37:32] Or, what's like a good religious theme? Like, the Gospel? Redemption.

Eric Rubin: [37:37] Yeah. Yeah.

Dan Austin: [37:39] Something Born like again contractors and they're all like a bunch of toothless dudes hopping on the back of a van like,

Mike DeHaan: [37:44] goddamn. Seriously.

Eric Rubin: [37:46] They got so much energy. I don't know how.

Dylan Koch: [37:50] When you're having these conversations and they're wanting something from you, like from the lending side and they're so nice and sympathetic, but as soon as you like deny what they're looking for, they're like they're like, f you, like Yeah. Go ride the whole like Yeah.

Mike DeHaan: [38:02] They Oh, yeah. Switch

Dylan Koch: [38:02] on a dime as soon as they hear

Eric Rubin: [38:04] You're your only as good as the last thing you did for someone. A lot of times in business, I feel like you've you have to give without expectation. And then if you're expecting that reciprocity, then you're you're gonna be disappointed. Like you're you're just setting yourself up to be upset.

Mike DeHaan: [38:23] And I'll with just on that religion note. It's not that like all religious people are badges, if that's what they lead with. That's the first thing they tell you. Yeah. They're trying to like establish like trust in some way that isn't warranted yet.

Dan Austin: [38:36] Yeah. Yeah. That shouldn't be what you do. Like, people that truly are like good religious people don't generally lead with like, because I go to church, you should trust

Eric Rubin: [38:44] me. Yeah. Know? That's why every Ponzi scheme is within your, like, a tighter group.

Mike DeHaan: [38:50] In your sphere

Eric Rubin: [38:51] of influence. Yeah. It's gonna be all it's gonna be a a part of a group you're already a part of, so it's gonna feel like an inner thing.

Mike DeHaan: [38:58] Yeah. Yeah. It's like all the all the the multi level marketing schemes. Right? That was like the whole thing. That's why like some of the people crushed with that because they'd be the first one that had like Isagenix. And then they go to, like, their, you know, their kid's school, their churches, their local neighborhood barbecues.

Eric Rubin: [39:15] There was a couple people here that just got popped for that. One, I don't know if y'all are aware of Pinky Cole who did Slutty Vegan.

Dylan Koch: [39:26] Isn't that Slutty Vegan? That sounds great.

Mike DeHaan: [39:29] That a real sentence that you just said?

Eric Rubin: [39:31] Yeah. I'm sorry. It's in the Southeast, like

Mike DeHaan: [39:36] I didn't think you guys were allowed to say words like that down there.

Dan Austin: [39:38] You guys have vegans in the Southeast? Slutty vegan. You're right.

Eric Rubin: [39:42] Well, we have, probably, actually, count rosaries or something. I don't know. Clearly, I don't know enough. Gonna look this up because my algorithm is gonna be helpful.

Mike DeHaan: [39:50] But know. Right.

Eric Rubin: [39:51] She is absolutely not a Ponzi scheme, but she got, she got money. She got some private equity money for her restaurant from I believe it was the Shake Shack folks. And then it just, should I say allegedly, I don't know how to make sure that I'm I'm I'm step She's filing for bankruptcy now and she's on, Real Housewives of Atlanta.

Dan Austin: [40:15] No shit. And

Eric Rubin: [40:17] she's on a hard PR mission to like rehab because all that money went away and she's saying, oh, well I've got I had some I had the wrong people in the wrong seats and they weren't taking care of the business the way they should have distancing yourself.

Dan Austin: [40:32] So this can be hard because it's hard to distance yourself from like a menu that's got one night stand, sloppy toppy, fussy hussy, Hollywood hooker. Also for a limited time only, big meat. One of our

Eric Rubin: [40:48] tenants, she was like, she showed me a thing and she was on like a tour and I think she was on like a cash grab tour of like, Hey, I'm coming to all these different cities and we'll do vision boards together and then we'll do this and we'll do that. And she's doing pop ups and she is fantastic at the marketing. But I think so many people they get to that place where they feel like they, they get the money and then they're worried because, you know, success shows up in overalls and looks like work. That's one of my I stole that from somewhere. I don't know.

Dan Austin: [41:23] I Drew Wiard would say something like that. That's a Drew Wiard quote.

Mike DeHaan: [41:26] Yeah. I think that was I think that was Martin Luther King quote.

Dan Austin: [41:31] Are you serious? Really?

Eric Rubin: [41:32] No. No. Was gonna say, like,

Dan Austin: [41:34] did not feel bad. I don't

Dylan Koch: [41:37] know She's writing a book. It's called Eat Plants, Bitch. So anyone wants to bring order that. She's great

Eric Rubin: [41:42] at the marketing, but the multilevel marketing slash scheme person, I can't remember what it was. It was like a gosh. And then there was another one that was like a doc. She made everybody call her doctor, but I don't think she had her She

Mike DeHaan: [41:58] wasn't an actual doctor.

Eric Rubin: [42:00] She wasn't actually a PhD. So it's just like Theranos. Yes. Or I

Dylan Koch: [42:07] wanna start making you guys call me doctor because I technically have a doctorate from Michigan.

Eric Rubin: [42:11] Know what?

Dylan Koch: [42:11] I'll I'll

Mike DeHaan: [42:12] start calling you doctor Dill. I'll give you a restack. Can have rainbow names. Yeah. I'll give

Dan Austin: [42:15] you some restack.

Mike DeHaan: [42:16] Like radio

Dan Austin: [42:16] names. Doctor. Doctor. Dillpill.

Dylan Koch: [42:19] Yeah. I hate that.

Dan Austin: [42:20] Doctor. Dillpillaro.

Mike DeHaan: [42:21] There we go.

Dylan Koch: [42:22] Now it's

Mike DeHaan: [42:22] gonna stick. Can you do me a favor and change your Instagram handle to that, please?

Dylan Koch: [42:26] Yeah. Absolutely not.

Eric Rubin: [42:29] Are you a PhD?

Dylan Koch: [42:31] Or No. Got my doctorate of pharmacy back in 2017 when I went to pharmacy school. It's technically a doctorate degree.

Mike DeHaan: [42:36] Yeah. So he's he's he's kind of a doctor, like how doctor Dre is a doctor.

Dan Austin: [42:40] Yeah. Exactly. Yeah. He's like he's like doctor Drew.

Mike DeHaan: [42:44] Yeah. Yeah. Right.

Dylan Koch: [42:45] Yeah. Drew, technically, he has with two. Our friend Drew Wiard.

Mike DeHaan: [42:47] That's sound

Dan Austin: [42:48] of He seems like a real doctor.

Eric Rubin: [42:50] He does. He does. He does.

Dan Austin: [42:51] He could play a doctor on TV for sure.

Mike DeHaan: [42:53] He wears glasses and says things that are actually smart.

Dylan Koch: [42:56] Yeah. See what I have to put up with Eric? This is a week over week basis.

Eric Rubin: [42:59] I know. Yes.

Dan Austin: [43:00] Well, it's just coming back, though.

Mike DeHaan: [43:01] If you weren't filming one of your rentals, we wouldn't do this to you, Dylan. It's okay.

Dylan Koch: [43:06] Jesus. Rental is a 0.5% interest rate. So Yeah.

Dan Austin: [43:14] I love how practical you are.

Mike DeHaan: [43:16] Oh, god. Yeah. Just you know, someone's gotta do it because standing out here is

Eric Rubin: [43:19] gonna be oh my So, you know, whatever for nothing.

Mike DeHaan: [43:24] Yeah. They do. If you go to Grand Canyon University, where you just pay for one. Woah. Woah. Woah. So there's like all there's like all Well, these like that's like that for profit school. You've you've heard about this. Right?

Dan Austin: [43:33] Yeah. Yeah. Yeah.

Mike DeHaan: [43:34] I pretty

Dylan Koch: [43:34] much have no idea what you're talking about.

Eric Rubin: [43:36] No. They're like It's a thing. Grand Canyon.

Mike DeHaan: [43:39] Yeah. There's these weird schools that like you literally just They call them like diploma farms. Yeah. Because you just go and you just don't actually ever even go to class. You just like pay and then they will just give you the degree.

Dan Austin: [43:51] I feel like there's a couple of those in Florida too. Like Florida Gulf Coast.

Dylan Koch: [43:54] Mhmm. This seems highly illegal. Like

Mike DeHaan: [43:57] I don't know.

Dan Austin: [43:58] Dude, what is that, what is that, what's that online school? You ever like Phoenix, University of Phoenix? Phoenix. Else? Come on.

Mike DeHaan: [44:06] Same sort

Dylan Koch: [44:07] of thing. That was

Eric Rubin: [44:07] the original one. All those things, they they disallowed those I think in like '20, I don't know, whenever Obama was around. And then they brought them back afterward.

Mike DeHaan: [44:19] Yeah. And they make they make like crazy money. So like Grand Canyon, that they're a big one that I always think of because they're always in March Madness. And they played in Spokane when their first round was here a couple years ago. And there was probably 400 students that flew to Spokane.

Dan Austin: [44:36] Yeah.

Mike DeHaan: [44:37] And we were sitting next to them, like our section was right next to them. And I was talking to some of the kids, and they said that the school paid for all of them to go. That's pretty sweet.

Dylan Koch: [44:46] Yeah. Yeah.

Mike DeHaan: [44:47] So because they wanted because it's marketing for the school.

Dan Austin: [44:50] They know great crowd though. They're great crowd.

Mike DeHaan: [44:51] Oh, they were great. They were so rowdy. And then and then they were the 14 seed, they upset whoever they played in the first game. And so it was like such a huge thing.

Eric Rubin: [44:58] Yeah. Yeah. I remember I heard a story about it that those schools have like a two week rescission period. So the salesperson will just be like loving on you as soon as you sign up and, you know, get books and get going for the first two weeks and then you never hear from them again.

Mike DeHaan: [45:14] Of course not. Yeah. Course Why would you? Gotcha. Anyways. Alright. Well, show about nothing today, guys. Good job.

Eric Rubin: [45:21] That's what I'm here for. Like, I Oh, yeah. It's fun.

Dan Austin: [45:23] Yeah. I did learn something about, Graves. I'm pretty stoked about that and micro salons.

Mike DeHaan: [45:29] Yeah. I know. That is actually interesting. I'm gonna a list of both. Did you say how much money you make on those? Can you share that?

Eric Rubin: [45:33] They're typically I mean, it it kind of depends on unit because we've got like end units and all that kind of stuff. But they're typically on par with like a salon suite pricing. Like a like a high quality salon suite

Mike DeHaan: [45:46] pricing. So like like what does that mean? Is that like like a $100 a week? Is that like $500 a month? Is that like, I I have no idea how that works for pricing.

Eric Rubin: [45:55] Yeah. I mean, for the nicer ones around here, they're probably gonna be, and I'll generalize with salon suites because I don't want to be committed to a timestamp of what the prices were and then somebody asks like five years from now.

Mike DeHaan: [46:09] Dude's smart because people remember shit and they will bring it back

Dylan Koch: [46:11] to you.

Eric Rubin: [46:11] Oh, will absolutely remember that. Yeah. Yeah. They'll forget when you tell them not to put anything on the wall with adhesive. Yeah. Yeah. But they will definitely remember the lowest possible pricing you've ever mentioned ever. But I think mostly they're doing weekly and you know, think around here the going rate is probably three, four. I think some will even do it like 500 a week because they'll have like double occupancies where people are like splitting the rent or know, thirding the rent. I

Dylan Koch: [46:43] have a mixed use building and one of the tenants is a salon and she's got I think four sinks in there. And her, I guess it's different being like a salon suite, but I think her rents are like $7.50 a month, something like that.

Eric Rubin: [46:57] Well, she can also do like commission. And I know we're trying to wrap up, but she can also do commission, booth rent. They do different things with their different models depending on what they have.

Dan Austin: [47:08] Yeah. You gotta add a have her add in waxing and upper rent. Waxing eyebrows, whatever

Dylan Koch: [47:16] else. Just give her a new business plan.

Dan Austin: [47:19] Yeah. You're gonna start doing this and pay me $2 a month.

Mike DeHaan: [47:21] Bro, she does that and she can sell vapes out of the drawer. She's gonna be so fucking rich.

Dan Austin: [47:26] One hit one hit hitters?

Mike DeHaan: [47:29] Yeah, dude. One hitters? Like, bucks for a taste of that grape vape Yeah.

Dylan Koch: [47:33] Oh, yeah, dude.

Eric Rubin: [47:35] Great place to bother.

Mike DeHaan: [47:36] Alright. Yeah. Alright, guys. Well, thanks for listening to today's show at nothing. Go and, give Eric a follow. Where what's your what's your socials, Eric?

Eric Rubin: [47:46] I'm on Instagram. I just joined TikTok because of the, you know, because of SalonSuite stuff. Yeah. Yeah. But look up Eric Rubin.

Dan Austin: [47:54] You you should be able

Eric Rubin: [47:54] to find it. I don't have I think it's like Eric b Rubin on Instagram. Eric Rubin c r e on TikTok, I think.

Mike DeHaan: [48:02] There we go. Right on. All all the the teenagers that

Eric Rubin: [48:06] Yeah. Mhmm.

Mike DeHaan: [48:06] Listen. They can check you on TikTok. Yeah. Yeah. Well, make

Eric Rubin: [48:08] sure make sure you

Mike DeHaan: [48:10] stay appropriate in the DMs, Eric. You don't wanna get bit like all the other famous celebrities out there. Yeah. Cool. Alright, everybody. Talk to you guys next week. Bye. This episode is sponsored by Sir Lenzelot 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 gonna 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, 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 slacapital.com/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.

Mike DeHaan: [49:07] 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 of the show.