From Broke Track Coach to Financially Free Investor with Jay Redding

Speaker 0

 

This episode, you're gonna love. My friend Jay Redding joins us. Jay is a real estate investor, a mortgage note investor, but more importantly, he's just a great human being. Simple country boy, from the Midwest and was a track coach and then a pharmaceutical sales rep. And then eventually around age forty five, forty six, somewhere in there, moved into real estate investing. And we talk about two very low points in Jay's, career, where he and his family had almost no income and couple of inflection points there where he really had to kind of think through, okay, how do I pivot? How do I make, the most of my resources here? And and what's my vision? Where am I headed? There's so much value in this episode. I I rattle off toward the end. It's definitely the second half of the episode. I rattle off a bunch of advice that Jay provided in writing in bullet points to me. It's just jam packed with with valuable information. At this point, Jay is able to work as hard as he wants whenever he wants. He's financially free. He has no personal debt. He and his son-in-law, Kyle, run their, mortgage note business, Cassidy Investments, and they also have forty rental properties. Jay throws out, I think it's five different books that he recommends that we talk about, and just so much, you know, real life practical yet inspirational, advice. This this one's jam packed. You're gonna love it. 

 

Speaker 1

 

Welcome to From Adversity to Abundance, the go to podcast for real estate entrepreneurs seeking not just to thrive, but to conquer with resilience and mental sharpness. Each week, join us as we dive into the compelling world of real estate through the lens of mental fitness, where challenges transform into opportunities. Get ready to transform your mindset and expand your understanding of what it takes to succeed in real estate. Let's explore these stories of triumph and resilience together. 

 

Speaker 0

 

Welcome everybody to another episode of the From Adversity to Abundance podcast. I'm your host, Jamie Bateman, and I'm pumped today to have with us my friend, Jay Redding of Cassidy Investments. Jay, how are you doing today? 

 

Speaker 2

 

We're doing fantastic, Jamie. Thank you so much for, having me on. I I consider it a great privilege. Thank you. 

 

Speaker 0

 

Yeah. This is gonna be this is gonna be fun. We were chatting a little bit before we hit record, and I I can tell already this is gonna be both a practical and an inspiring episode. Very relatable for a lot of people, I think. So, for the listener who may be unfamiliar with you, Jay, who are you and what are you up to today? 

 

Speaker 2

 

Well, we ran two businesses. We ran a re we're we're on both sides of the real estate. We run a a real estate company. We have forty rentals right now. We have done over a hundred fix and flips, and we've purchased tax liens. And then we're on the other side now with the note business. We buy notes. We create notes, mortgage notes, buy on the secondary market, and then we typically either partial or a hypothecate, which is a fancy word for just, pledging the loan as collateral with our, capital partners is what we do. So 

 

Speaker 0

 

And for those 

 

Speaker 2

 

in a yeah. Go ahead. 

 

Speaker 0

 

I was just gonna say, for those who, may not know, Jay and I are part of a monthly broadcast with Justin Bogart and Chris Seveny, called the be the bank broadcast. So check that out on YouTube and other channels. But, you know, more more how how does what you do before we jump back into your back story, Jay 

 

Speaker 2

 

Sure. 

 

Speaker 0

 

What is, you know, what does a week look like for you, and and what what is kind of some of the abundance that you've been able to reach, What? You know, through this mortgage note investing and real estate investing? 

 

Speaker 2

 

Sure. For many of you may or may not know, I also have my son-in-law on board, with me, Kyle Cassidy. We are in the process at this moment in time essentially developing out legacy wealth is what we're doing. We've created a vision. We have a business vision. We have personal vision. And it kinda goes back, Jamie, to, you know, Alice in Wonderland talking with the Cheshire cat. You know, if you don't know where you're going, any old direction is just perfectly fine. Right? So you need you know, one takeaway out of this is that you need to you may not have it all formalized, but you have a vision. And the vision that my wife and I have created for ourselves is that we've created businesses to be able to have the abundance, to have the financial capability to go and, take a vacation once a quarter, alright, which we do. And sometimes it's not it's not a big vacation. Sometimes it's a small vacation. It's whatever. We're financially free. We have, we have basically no debt other than what's the debt in the company. Alright? So we've achieved that. Debt. Yeah. We have no personal debt. Alright. And, actually, we don't have very much, business debt either, so that makes it nice too. Nice. Okay. Well What the week basically you know, people ask me, you know, when am I going to retire? And and the question becomes, I love what I do. Mhmm. I work as hard and when as hard as I want when I want. Yeah. Alright? And then I take breaks, and then I come back. I'm passionate about what I do. Right. But it's created the vision. I mean, I take Fridays off. Alright? I I used to do, you know, some of the work on the rentals and everything. I'm pretty much at a point where I don't do that anymore. Everyone kids me, are you gonna mow a yard? Because I used to always be the yard mower. I don't do the yard mower other than my own personal yard, but, don't do that. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

We have the flexibility to be grandparents, to be parents. We have we have the flexibility to go and do what we want whenever we want to. It's it's it's good. 

 

Speaker 0

 

Awesome. Now I know there have been several instances where I've you and I have emailed, and you you'll say, well, I'm not at the office Thursday and Friday, you know, or or something. I'm not I'm not saying you don't work hard. That's not what I'm saying because I know you have worked very hard over the years, and I know you still work hard. 

 

Speaker 2

 

When I'm in the office. Yeah. When I'm there, I work hard I work hard and play hard. There you go. 

 

Speaker 0

 

But you have a lot of, flexibility and control of how hard you work, like you said, and and when you work, which is, I think, what everyone wants to get to. And I'm with you. It's like, I don't plan to retire. You know? Why why would I I I think having work is a good thing, and 

 

Speaker 2

 

Mhmm. 

 

Speaker 0

 

It helps you with purpose and, yeah, contribution to family and and other, you know, others around you. So I love it. There's no reason to try to I'm not a huge fan of the the fire movement to retire early because what are you retiring to? 

 

Speaker 2

 

To. You know? Right. 

 

Speaker 0

 

But, anyway, we've we've rambled on enough here, Jay. I think we've painted the picture as to where you've been able to, you know, the kind of abundance, financial abundance, and lifestyle abundance, if you wanna put it that way 

 

Speaker 2

 

Mhmm. 

 

Speaker 0

 

That you've been able to reach, which is which is awesome. But for the listener who out there who may say, must be nice. That must be nice. You know, that that sounds great for you, Jay. 

 

Speaker 2

 

Overnight success. 

 

Speaker 0

 

Yeah. Overnight success. Let's jump back in 

 

Speaker 2

 

to get here. 

 

Speaker 0

 

Apparently, coaching track is the key to financial abundance. Right? 

 

Speaker 2

 

Yeah. There no. 

 

Speaker 0

 

Not at all. Now let's jump back let's jump back, and and I know you were you, coached track and and, let's how did you start with that? How did they How 

 

Speaker 2

 

did they get into all that? 

 

Speaker 0

 

Get into all that. 

 

Speaker 2

 

Okay. Well, my background just so you know, both my wife and I grew up on, small farms out in the middle of Midwest. Okay? I grew up on a hog and dairy farm, and my wife grew up on a dairy farm. Okay? We still have those farms in the family today. Okay? But, obviously, we're not running the operations, like that. So we're we're down to earth simple kids. Alright? We're just simple kids, from the Midwest. I was successful in running cross country and track in high school. I ran in college. I I had the opportunity to, go to grad school at Indiana University and get my master's there in coaching and was a grad assistant with the track and field program at that moment in time. K. Had had some great experiences while, I was there. I was in charge of timing and everything for, first world indoor championships, nineteen eighty four Olympic trials. Alright? 

 

Speaker 0

 

Yes. 

 

Speaker 2

 

The some fantastic experiences. Okay? Sure. So, and then I went out. And once I got master's, I kinda resurrected a program at Findlay College. Now it's University of Findlay in Findlay, Ohio. And then from there, I went to Kent State University. I was assistant tracking field coach at Kent State. 

 

Speaker 0

 

1.  

 

Speaker 2

 

Was fortunate to have some all Americans while I coached there, so that was, the great experience. But the one thing that was just really becoming difficult at that point in time was that we're putting eighty to a hundred hour weeks in. Okay? And at that time, I was the highest paid assistant coach Mhmm. In the MidAmerican Conference, a division one program, and we were struggling to make it. 

 

Speaker 0

 

How how much were you making? 

 

Speaker 2

 

Twenty two twenty two grand a year was my salary. 

 

Speaker 0

 

Yeah. So and the reason I and thank you for sharing because, similarly, I I, had success in lacrosse in college, and, you you know, that's why the listeners tuning in to hear me brag about how great I was at lacrosse. You know, but like you, it's like, okay. I was really good at this, and, oh, maybe I'll stay in this for a while. And and, you coached a little longer than I did, but I coached, couple years, high school and and college. And I coached division three. I was the assistant at Goucher College for one year. Mhmm. Amazingly, we somehow went thirteen and three. I'm not sure how we did that. But point is, I was I was actually very highly paid. Listen to this one, and this is later than your than your twenty two thousand. I was actually very highly paid. One of the highest paid in d three, I believe, for an assistant. Eighty five hundred dollars for the year. I wasn't putting in a hundred, hours per week. I'll I'll tell you that. But it was it was essentially a full time job getting paid eighty five hundred dollars. And, you know, you know that for that job, you're gonna need to move around the country quite a bit. Yeah. Make peanuts living out of a a duffel bag, essentially. And we could so not only is it difficult on on family life for the the relocation reasons, but you're also not making much money. Yeah. So I can relate, and and I think a lot of coaches out there can can relate to that. 

 

Speaker 2

 

Certainly relate. Yeah. Particularly if they were not in the, you know, football basketball area. 

 

Speaker 0

 

Right. Exactly. These ancillary sports. 

 

Speaker 2

 

Sure. 

 

Speaker 0

 

Okay. So sounds like you really enjoyed coaching. You were good at 

 

Speaker 2

 

I did. I I loved working with the kids. It was a great great experience. Love working with the kids in that respect. And what kinda really changed everything is, we had our daughter. Alright? And I just didn't want to, I didn't wanna be gone Yeah. All that time. Okay? And I I wanted to be there to see your race. You know, this is a little bit of my father, that's in me. He basically he said if you found the time you're gonna love this. If you find the time to have him, you find the time to raise him. Okay. So 

 

Speaker 0

 

nice. 

 

Speaker 2

 

So that was obviously instilled in me. Okay. 

 

Speaker 0

 

Yeah. It took takes a lot longer to raise them than 

 

Speaker 2

 

Yeah. That yeah. It sure does, doesn't it? But I wanted to be I wanna be a dad. Okay? That's the bottom line. I wanted to be around. And so I stepped out of faith. That's the first you know, you talk about, you know, starting a business, going stepping out in faith. At that time, I was on a ten month contract. And, to be fair to the university and to the program and everything, I basically told them that, I don't know, I was going to be leaving, and that contract ended in June, I believe, is what it was. That may be awful. Monday, maybe July. Anyhow, I was on a ten month contract. So, therefore, we ended up in June and had no income. Okay? One of the kids who was on our team at that point, his dad was in pharmaceutical sales, and that's how I basically got interested in pharmaceutical sales. I always liked the business aspect. So I was interviewing and contacting a lot of different pharmaceutical companies, and, I ended up getting hired on right at the last second. When I say the last second because I was pretty we were pretty much down to, like I mean, I painted houses during the summer. That's what I did. 

 

Speaker 0

 

Wow. Mhmm. 

 

Speaker 2

 

Okay? My old farm skills came came through again. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

I of 

 

Speaker 0

 

And what what age were you that summer approximately? 

 

Speaker 2

 

Oh, I had to be about we were probably, what, twenty four or no? No. No. No. That's not right. That's not right. Because, twenty seven, twenty eight, something like that. Because I was I think it was twenty eight when we had our daughter. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

So Got it. So late twenties. 

 

Speaker 0

 

You have a daughter, and you you have you have no income. 

 

Speaker 2

 

No income. Yeah. 

 

Speaker 0

 

Yeah. And yeah. So you start Stepping out of faith. Yeah. So you start looking around to people in your network, and you get turned on to pharmaceutical sales, so you start reaching out to different pharmaceutical companies. 

 

Speaker 2

 

Yeah. So we basically I got hired on, and I was actually interviewing for a a position in Canton, Ohio. And through the interviewing process, Fort Wayne, Indiana area, and they had a position open there. So they gave me gave me the opportunity to go to either one, so we decided to come back home. So it was a good great fit for us. Sure. So so our family here 

 

Speaker 0

 

point was to make more money. I mean, that was the main thing. But anything else that drew you was there anything else that drew you to pharmaceutical sales? 

 

Speaker 2

 

Is that correct? I like the science part. Okay? Although I was a PE major, I did have a science minor. So there's hope for everyone out there. If a PE major can can make it, in real estate, anyone can make it. Yeah. There you go. I'm just telling you. Alright? So it's not that difficult. It's not that hard. Mhmm. So, but yeah. And we wanted some, a better income, better hours. I mean, I still work fifty, sixty hour a week, but that was that that was a huge relief compared to what we were doing beforehand. 

 

Speaker 0

 

Sure. 

 

Speaker 2

 

Makes sense. Yeah. So it was very, very good in that respect. We're able to get back home and be close to family, and that was important to us as well. Mhmm. 

 

Speaker 0

 

Yeah. And I I know several former, pharma pharmaceutical sales reps, who do well in real estate and raising capital, and I imagine the sales, lessons and and human interaction and all that probably paid off pay is still paying dividends for you, I would 

 

Speaker 2

 

It still is. I mean, had it not been from my experiences in training, right, as a pharmaceutical rep, I would not have had, I I would I would not have had the skills nor would I have had the confidence to be able to go out on my own. Okay? Got it. I it it, I had a very successful career. I, why was it with I was with Pfizer, pharmaceuticals. I had a very successful, career there. Mhmm. Won all the top awards, so that, you know, that you you go up. And if you're gonna stay in sales, I mean, we decided and this might have been part of the issue. I don't know. I'll never know, and it doesn't matter. You know, I had some really successful years, and, typically, in the corporate world, you know, you're successful in sales, then they want you to move up the corporate ladder. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

And that next move was going to mean for us to go to a major metropolitan city. And we're two country kids, and we just did not want that lifestyle. I'm just being honest. Okay? Yeah. So I did not move up the ladder. That probably hurt me somewhat. I don't know. And It turned down it 

 

Speaker 0

 

turned down an opportunity that was 

 

Speaker 2

 

coming out. I did. Okay. And lo and behold, I mean, I was with the company for seventeen years. Company was going through some downsizing, and I got caught in one of the downsizes. Gotcha. Okay? 

 

Speaker 0

 

So nineteen eighty nine to two thousand six, you were a pharmaceutical sales rep. So what age was two thousand six? We'll date we'll we'll figure out how old you are now. 

 

Speaker 2

 

Well, I'm sixty five. I'll tell you. I don't care. Alright. So I really didn't start doing real estate investing until I was about forty five. So there's hope for you guys there too. Alright? 

 

Speaker 0

 

Yeah. So this was eighteen years ago when you got laid off. 

 

Speaker 2

 

Yeah. I did my first real estate deal in two thousand and four. I was still employed with Pfizer. Alright? I did my first deal in two thousand four, and my thought was is that when I got hired on, I was, like, I could retire at fifty five. Okay? So, at about forty five, alright, I was thinking, okay. We can do this real estate thing on the side. Alright? And we can you know, in ten years, I'll have a nice little portfolio. I'll step out of, from Pfizer, have a pension there, and all four zero one k and have the real estate on the side. I'm set. 

 

Speaker 0

 

Coach, high school track, if you want. Yeah. 

 

Speaker 2

 

If I wanted to. You know so? But, you know, it didn't work out that way. Mhmm. So, so I got downsized. When I got downsized, maybe I my wife and I were actually talking about this this morning. I I don't remember exactly how many properties that we had Mhmm. But it wasn't very many. Maybe five or six, maybe eight at the most. 

 

Speaker 0

 

These are rental properties. Right? 

 

Speaker 2

 

These are rental properties. 

 

Speaker 0

 

And just for the listeners who may not be familiar with, you know, what the numbers look like, maybe the real estate investor you know, because five eight properties in, Manhattan is very different than eight properties in Fort Wayne. 

 

Speaker 2

 

In Indiana, in the Midwest. Yeah. So And this was yeah. 

 

Speaker 0

 

What is a typical just for the context, what would a typical rental look like at at that time for you? 

 

Speaker 2

 

At that time, we were probably purchasing in that thirty to forty thousand dollar range. 

 

Speaker 0

 

That's the price of the property, 

 

Speaker 2

 

not how much you put down. And well, we would, at that time, we're putting fifteen, twenty percent down. We could get bank loans. But, obviously, when I got downsized, I didn't have I can't, I don't have a job. Yeah. So I'm not bank I'm not bankable. Right. So 

 

Speaker 0

 

Right. Right. Which is a problem, which I think we're gonna return. 

 

Speaker 2

 

Which is a problem to grow. 

 

Speaker 0

 

But so but say say you had six to eight rentals, and how much would each one how much were you making approximately 

 

Speaker 2

 

two hundred? Basically, we were netting roughly two hundred a month per rental. And all expenses yeah. 

 

Speaker 0

 

And that wasn't that wasn't enough to to live. No. 

 

Speaker 2

 

That wasn't enough to live on. 

 

Speaker 0

 

I'm just kidding. But, yeah, just just paint a picture for the listener, like, what what that really looked like for you and and your wife and your daughter and your family at that time. So it it okay. So 

 

Speaker 2

 

basically went here, Jamie. We basically went from making a six figure income one twenty, one thirty range Mhmm. Okay, in that ballpark at that period in time. And my wife was a elementary school teacher Okay. Going from both of us down to just living on her income, which was about forty thousand forty to forty five thousand. 

 

Speaker 0

 

Yeah. And and and thank you for sharing. And you're saying just your income was approximately 

 

Speaker 2

 

Yeah. One twenty one ten, one twenty. You know? 

 

Speaker 0

 

One sixty, one seventy with with the rentals and and all of your income down to forty or 

 

Speaker 2

 

maybe Forty forty five? 

 

Speaker 0

 

Forty five with the rentals. Yeah. That's a huge 

 

Speaker 2

 

That's a huge adjustment. Yeah. 

 

Speaker 0

 

So what's going through your mind at that point? You know? I mean, what really, what's you've done you've done a few real estate deals. You've got some rentals. Yeah. But all of a sudden, your income essentially dries up. What does 

 

Speaker 2

 

Well, the first thing the first thing was is that okay. I initially was trying to, I was interviewing for some other positions Okay. Pharmaceutical positions and everything. And it's like I went through a couple of the interviews, and it's like, okay. This is, I mean, no offense, but this was a dog and pony show. Mhmm. That's what it basically was. And it's like, this is not where my heart's at. 

 

Speaker 0

 

And Yeah. 

 

Speaker 2

 

To this day, I can still remember sitting down. My wife said, alright. We need to talk. Okay? And, she and I said, I don't my heart's not in pharmaceuticals. I'm just doing it for the money. 

 

Speaker 0

 

You said that. Oh, 

 

Speaker 2

 

I said that. 

 

Speaker 0

 

Yeah. Okay. 

 

Speaker 2

 

Yeah. And I and she said, what do you she looks at me. She says, what do you want to do? Right. 

 

Speaker 0

 

Sounds good. But 

 

Speaker 2

 

Yeah. Okay. Honey, what now? 

 

Speaker 0

 

Your plan there, buddy. 

 

Speaker 2

 

Yeah. I wanna and, basically, I wanna pursue the real estate stuff. Mhmm. And, okay. So we basically look okay. How can we do this? What fortunately, I will say fortunately, we had lived within our means. Alright? We'd paid down debt. We had no debt personal debt at that point. We had the house paid off, cars paid off. We had money. My daughter was a senior in high school that year, and she had already committed going to the school that she wanted to go to. Mhmm. And her concern was, am I still being able to go to college? And, yes, we had money set aside for that. 

 

Speaker 0

 

I think that's a critical piece that's very easy for the listener to overlook is that you you live frugally and and, you know, responsibly all those years. You didn't just Yes. Bank on a ten percent raise every year and, you know, infinite income somehow in the future. Yeah. You you you had your, your personal finances. You know, that that game was tight, if you will. 

 

Speaker 2

 

Yeah. Yeah. We had our house in order is what we basically did. That we did. Yeah. We 

 

Speaker 0

 

1. Which gives you a lot less stress when something's, you know, very stressful comes along. 

 

Speaker 2

 

Well, that's very true. I I you would be utterly amazed in how chillably you can live when you have no debt. 

 

Speaker 0

 

Yeah. Yeah. Absolutely. Okay. So and and and that so and this just doing quick math. I think you were forty six, forty seven years old at this time when you were, you know, applying for these jobs in the far pharmaceutical industry, but you're not really into it. Your heart's not there anymore. 

 

Speaker 2

 

No. That's not. 

 

Speaker 0

 

And so how did your wife respond when you said I wanna do this real estate thing full time? 

 

Speaker 2

 

I have a fantastic wife. She has supported me in everything that, we have pursued wherever I've gone. You know, she knew that at when we got married that I was looking to go into coaching, and she understood that we would be probably moving around some. And she was just thankful to be put where we're at. And we've been put we've we I mean, we have deep roots here now. So, 

 

Speaker 0

 

You did a good job of pretending you weren't reading that that script that part of the script that that that she writes 

 

Speaker 2

 

for you. No. Oh, no. No. I I'm just joking. But no. That's She's getting with me through thick and thin. So 

 

Speaker 0

 

It's a huge piece. 

 

Speaker 2

 

It is. It is. So, yeah. Yeah. So, basically, at that point then, we lived off of her income and all the income that we had from the rental properties and then the fix and flips, we basically put right back into the company. Okay? And That's 

 

Speaker 0

 

that's hard to do then at that point without Yeah. 

 

Speaker 2

 

It's hard to do. Personal income. I not a no. Not not no. Not we were living on about two thousand a month. That's what we were living on. 

 

Speaker 0

 

Wow. 

 

Speaker 2

 

Okay? Yeah. That was tight. That was very tight. And, but we were willing to do it. And the other thing is we weren't bankable. I mean, I'm not bankable. Okay? Mhmm. So I had to go out and raise capital. Okay? And, you know, okay. I I will be forever eternally grateful to some of my first private lenders because they were some of my pharmaceutical friends. Okay? And also some of the positions that I called on. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

That had enough faith in me and believe in what I did and what in my character that we you know, they they they they gave me the ability to move on. 

 

Speaker 0

 

And you were providing them an opportunity as well. 

 

Speaker 2

 

But Yes. There's a two way street. 

 

Speaker 0

 

I think that's an important point as well. We the the to highlight here is that you didn't know you were gonna be laid off. You didn't know where where your career would lead you when you were a pharmaceutical rep. But I presume you did a good job. It sounds like you did a good job, and I know you fairly well to know, you you know, you're a man of integrity and 

 

Speaker 2

 

Yes. 

 

Speaker 0

 

And work ethic, etcetera. And so the point is that every day you showed up to do your phone your your job 

 

Speaker 2

 

Yep. 

 

Speaker 0

 

And build your reputation and grow out your network and be, you know, respected in your industry, not knowing that you would need to tap those resources later. 

 

Speaker 2

 

Very true. 

 

Speaker 0

 

Right? You didn't plan, oh, I'm gonna be a good pharmaceutical rep and be kind to these doctors and, you know, other other people in my network so that they can be a private lender for me when I get laid off and I and my wife agrees that we can scale my real estate business. That was not in the cards. Right? 

 

Speaker 2

 

No. It wasn't. 

 

Speaker 0

 

It was not in your way. Point. 

 

Speaker 2

 

So That was not the vision at that point at all. 

 

Speaker 0

 

Yeah. So for the listener, you know, do what you're doing today well. Right? Show up 

 

Speaker 2

 

Yes. 

 

Speaker 0

 

Well today because you don't know where it's gonna lead. And so you it's so, you know, it might be easy to say, oh, pharmaceutical sales, that has nothing to do with real estate. That was a big waste of Jay's time. Well, no. He built up 

 

Speaker 2

 

The skills transfer, though. Yeah. The skills down debt 

 

Speaker 0

 

and the integrity. Transfer confidence transfers and the network. Yeah. The network that you built up. So I don't mean to keep talking over you here, but I think that's a key point is is It is. No. It's you you did a good job where you were at that time, and that has parlayed into success later in life for you. Yeah. Okay. So 

 

Speaker 2

 

I would, Jamie, I would say and it continues to follow through now. I mean, we've utilized private capital now for twenty years. 

 

Speaker 0

 

Wow. Yeah. 

 

Speaker 2

 

And during that twenty year time frame, we've never been late in paying our investors. There's been no investor that's ever lost a dime. I mean, that's 

 

Speaker 0

 

That's pretty 

 

Speaker 2

 

that's integrity and what we do and how we conduct business to make sure that our private capital is protected well. 

 

Speaker 0

 

Sure. Yeah. And that's not to say there is no risk ever for a private, you know, investor or anything because there always is risk. 

 

Speaker 2

 

There's always a risk. I mean, it's just inherent with investing. But you learn to minimize and mitigate that risk is what you basically learn how to do. 

 

Speaker 0

 

And the number one thing I'd say with it for a private investor to to, research and understand is who you're investing with. 

 

Speaker 2

 

Exactly. 

 

Speaker 0

 

Whom you're investing with. Who's who's actually in charge of making the day to day decisions like you are, Jay. So okay. But walk us through from, say, two thousand six when you were laid off and you had a few rentals to, say, the next ten years or so. What did that look like for your real estate career? 

 

Speaker 2

 

Fix and flip. We were doing fix and flips. We're getting the rentals. We're that that was also through the two thousand eight, two thousand ten great recessions. So we were finding some. We were I did not realize it at that time, but we were finding some You were spoiled. Broken hot deals. 

 

Speaker 0

 

You were spoiled and you didn't know it. 

 

Speaker 2

 

Exactly. I didn't know what I didn't know. What I did what I did know was that, okay, I gotta do the flips. I gotta get the chunks of cash. I gotta turn that money, put it into the rentals to get monthly cash flow. That was the bottom. That was the business model. Okay? Mhmm. And, you know, everyone talks about, like, right now, everyone gets all bent out of shape if, you know, a fix and flip is sitting for sixty days. Right. From two thousand eight to two thousand ten in that ballpark, we flipped the whole time during that recession. Our average time from the time that we purchased, rehabbed, and resold was eight months. That that was an average. We never went over twelve. Well, I'll take that one. We went over twelve on one deal. Okay? So our private capital, we would do a two year loan. That's what we would basically do with the ability to pay off at any time, and it was interest only and the interest accrued. So they got paid when we did the flip, then we took our money, we'd stack it up, then we would go and Mhmm. Get a, a rental. Alright? Fix that up, and then we would turn around then and, utilize private capital then on that for the long term, money as well. I had two or three lenders I had worked with for fix and flips. They wanted to just turn their money. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

And then I went out and find other people that wanted the long term cash flow model. 

 

Speaker 0

 

Gotcha. 

 

Speaker 2

 

How we that's how we financed everything. 

 

Speaker 0

 

Okay. 

 

Speaker 2

 

That's what 

 

Speaker 0

 

we did. So all private capital. 

 

Speaker 2

 

All private. 

 

Speaker 0

 

Different structures depending on what the investor was looking for and what and what your needs were as well. Yep. Okay. So say say twenty sixteen, what did your business look like? How many you you did a bunch of Oh, I 

 

Speaker 2

 

can't tell you. I don't know. Yeah. We we basically we we have done over a hundred rehab flips. 

 

Speaker 0

 

Gotcha. 

 

Speaker 2

 

Okay? Yeah. In that time frame. I mean, we had two, three, four going at a time, I mean, we were we were busting. That's what we're doing. And I I have my own crew, that was running, in and out all the time. Yeah. And, you know, we we were we were cranking on it. That's all we were doing. 

 

Speaker 0

 

But you were holding some for rentals, it sounds like. You're growing your rental portfolio. So approximately so you said you have about forty rentals now? 

 

Speaker 2

 

Forty right now. Yeah. 

 

Speaker 0

 

Gotcha. 

 

Speaker 2

 

Alright. 

 

Speaker 0

 

So between in the last eighteen 

 

Speaker 2

 

power edging four, I'll say, as a ballpark. I'd have to go back and look at the records. 

 

Speaker 0

 

So I 

 

Speaker 2

 

would say roughly adding four a year, probably. Gotcha. 

 

Speaker 0

 

Okay. 

 

Speaker 2

 

Same. Three to four into the rentals in that year. Maybe not quite maybe only a cup, a cup a couple or a couple years in there depending on what the spreads were and stuff like that on the flips. 

 

Speaker 0

 

Sure. So in twenty fourteen, your son-in-law, Kyle, came on board, and he's now the manager of Cassidy Investment Group. What was what were the family dynamics? How did you, you know, decide to go down that path? 

 

Speaker 2

 

Well, actually, at in two thousand and fourteen, he we still only had J and J Real Estate Services, which was just a real estate site. Yeah. Okay? We didn't really start doing, notes until we started in two thousand nineteen, and this was his ambition. Okay? But Kyle came on board. I was at a point where we're getting to, the rentals. I couldn't do it all myself. I couldn't manage it all. I needed to hire someone. Okay? And my daughter and, had just finished up her masters, and their their determination, in their relationship was that alright. They when they got married, they went to where she got her master's, and then once they were done, with her master's, they would go wherever he would find a job. Okay? 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

He was having a difficult time. He was, like, second on a number of different, opportunities. So he was having a difficult time getting a corporate job somewhere. 

 

Speaker 0

 

Okay. 

 

Speaker 2

 

And and to his credit, he did whatever he needed to do to put food on the table while she was going through school. I mean, he did he he he got, you know, he got some bumps. I mean, he got some real life experiences there. Okay? So I was in a situation where, okay, I I need to have have some help. 

 

Speaker 0

 

Sure. 

 

Speaker 2

 

I reached out to them and said, this is I'm going to hire someone. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

Okay? We would love for it to be, alright, you guys, if you want to. But if it's not what you want, it is perfectly fine. But I'm giving you first opportunity if you would like to come and and be part of this because you're probably going to inherit it all anyway down the road because I I have one child. 

 

Speaker 0

 

Right. Right. 

 

Speaker 2

 

Right. So 

 

Speaker 0

 

Gotcha. 

 

Speaker 2

 

Yeah. So he decided to come on board. No experience in real estate. Really no experience whatsoever as far as real estate per se, and he had his he was a history major and a business minor. Okay? Okay. But what he did have experience with, he worked for an employment agency when my daughter was going through grad school. K. So he got, you know, he got interpersonal relationships, and he's very good in that respect. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

And he basically came on board and then started he has the technology. He loves technology in the background like that. So he runs all the back offices, on both companies now. That's what he does. And so it fit very well with me. And then we started talking. Alright. You know, what's the vision? How's this transfer going to take place somewhere down the road? And we got talking and everything. And he, you know, he doesn't wanna manage rentals for the rest of his life. I don't know why, but I understand that. 

 

Speaker 0

 

That's weird. 

 

Speaker 2

 

Because yeah. So Just kidding. So we really had some good heart to heart discussions, and it's like, you know, where what what do you have an ambition in? Where what what interests you? Okay? 

 

Speaker 0

 

Sure. 

 

Speaker 2

 

And he he uncovered the notes. How how did he 

 

Speaker 0

 

find note investing, mortgage note investing? 

 

Speaker 2

 

You know, I don't I think he was just kinda brainstorming one day and ran across something, and we had sold a couple, you know, you know, a a couple things on a contract. Okay? 

 

Speaker 0

 

Sure. 

 

Speaker 2

 

Right? So short term contract. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

And now he kinda liked that so he wouldn't have to be in the day of the management. Yeah. 

 

Speaker 0

 

You know, day to day management. Toilets and trash or whatever. 

 

Speaker 2

 

Exactly. And dealing with the the the residents and all that type of stuff. So although he's good dealing with people. Mhmm. So more patient than I probably am, but that's alright. But, anyhow, we got we started doing the research on notes and and everything. We started alright. So I know nothing about it. Let's let's who who's doing this? Alright? Who's doing this? Who's got the experience? I don't wanna go to someone that's just brand new. Alright. Quote, unquote, the guru. Who's been doing this for twenty years? Who's got the who's who's gone through the real estate cycles and know what it's like going through up and down and doing the research? 

 

Speaker 0

 

Right. 

 

Speaker 2

 

Not too many people, to be honest. Right. 

 

Speaker 0

 

Okay. That's true. 

 

Speaker 2

 

Alright. So, we came across Eddie Speed. Okay? We we decided to go that route. We're also you know, Fred and Tracy Rui very well. We're we're part of their group as well. So Yeah. And that's where we did that's where we did our training. That's what it basically is. Okay? 

 

Speaker 0

 

Yeah. And and one of the things about note investing or you know, I know you're seller financing, creating notes, or buying buying notes. I just love that it's all part of the same residential real estate play that at least how we're talk what what we're talking about now. Neither you or I are really in the commercial space per se, but, it's all part of the same game. You know? So 

 

Speaker 2

 

Yeah. It's just the other side of the coin. 

 

Speaker 0

 

Exactly. Exactly. So now you just have more tools that you can go to. 

 

Speaker 2

 

You really do. 

 

Speaker 0

 

You really do. 

 

Speaker 2

 

I feel like I'm a complete investor now. I could go on both sides of the coin, which no. However the market shifts. Right. 

 

Speaker 0

 

Gives you options. 

 

Speaker 2

 

Yeah. We can go either way. 

 

Speaker 0

 

As a one of the things I, had, I've interviewed Dave Van Horn a couple of times on 

 

Speaker 2

 

Yeah. 

 

Speaker 0

 

This podcast and and, the prior one with with Chris. But, you know, his thing was always, just tell me what the rules are, and I'll figure out a way to win. Like, he you know, it doesn't matter to me. This it's not like this is my strategy, and all the conditions must align for me to to profit. No. It's like I've got a bunch of tools through through the decades of experience that he has in particular. You know, that that's another person who's weathered many ups and 

 

Speaker 2

 

downs Yeah. Market cycles. Many cycles. Yeah. Because the market shifts. It does. Yeah. 

 

Speaker 0

 

So you you learn along the way, and then almost you're you're almost agnostic to what the market does 

 

Speaker 2

 

Yeah. 

 

Speaker 0

 

Next year or next decade because okay. Well, I got tools for that too. 

 

Speaker 2

 

Exactly. I mean, I don't I am quite confident whatever direction the market goes that we can make money in it. It just you just use a different tool. That's all. You guys go a different direction. 

 

Speaker 0

 

I love it. I'm gonna I I have some some typical questions that I ask. And Sure. But I also before we get to that, I just love you fill out a a pre interview form for me, which is fantastic. I'm just gonna read through some of these, and and it as I'm done when I'm done, if you wanna follow-up on one or two of them, that's fine. 

 

Speaker 2

 

Yeah. There's 

 

Speaker 0

 

so many gold nuggets here. You know, just things that you, have highlighted here for us. The importance of persistence, discipline, staying focused forward, and, we can pop on that maybe. Willingness to sacrifice today for a better future tomorrow, getting out of your your comfort zone, defeating fear by taking massive action. I know this is a lot here, but we're we're we're running out of time, so I just wanna knock these out. Quit worrying about what others think. They don't pay your bills. I love that. Know your why and then goal setting, timelines, etcetera, investing in yourself and your skill sets, determining your niche, not getting caught in shiny object syndrome. That's a big one for a lot of entrepreneurs. Mhmm. Surround yourself with people better than you, how the importance of your attitude, giving freely and investing in others and expecting nothing in return, helping others succeed, being willing to take calculated risks, keeping an attitude of gratitude, being willing to do whatever it takes as long as it's legal, moral, and ethical, and being willing to humble yourself. Man, there's that's a that's about ten podcast episodes right there. But, is there anything I just said that that would those were all your topics and your, anything that you wanna highlight there, Jay? 

 

Speaker 2

 

Here's here's what I would say. You know, if you're looking to get into being an entrepreneur, whether it's in real estate or whatever, okay, You have to know your why. When when you're and it's scary. Believe me. When I made that step from when I was coaching going out, I was scared to death. Okay? When I got downsized from Pfizer, the question, can I do this? Okay? Alright. You you question yourself. But here's the here's the bottom line. This is what pushed me forward every day. Mhmm. When your when your why becomes greater, alright, then the fear, you will move forward. Mhmm. You gotta know in your gut. Maybe you don't know what you want exactly down the road, but you know absolutely what you don't want. Mhmm. And that will push you forward as well. If you're not zeroed in on that Mhmm. You're not gonna move forward. I'm gonna tell you that. Fear will grip you. That's what it will do. 

 

Speaker 0

 

And what I one thing I'm pulling from that is, you know, mindset is critical, and your vision is critical, and your why is critical. However, you're tying it into taking action as well. Exactly. You it it's not gonna happen just because you threw it out there to the universe and you didn't do anything about it. But but if you tie in, and I I started to listen to, Joe Dispenza, but that's a whole that's another it's an eleventh podcast episode. But he talks about tying in your your mind and your heart. And, so point being, you you found a way to both be kind of visionary as well as practical in taking the next step. 

 

Speaker 2

 

Yeah. I mean, look at where where do you wanna go? Maybe you don't have it crystallized yet, and that comes in time as you're moving down the road. Okay? But go as far as you can see. Okay? What do I what what skills do I have right now? What resources do I have? Mhmm. Okay. When I left Pfizer, okay, I I'm not bankable. Okay? So I gotta have money. I got I gotta have money to do deals. So I've gotta figure out a way how to go and approach people, and I was nervous talking with people about it at first. Sure. But I knew what I wanted, and I took massive action at that time to get it done. And when you're going a hundred miles an hour and taking massive action, you don't have time to think about fear. Mhmm. Fear fear is secondary. You're focused in the moment and getting the job done and moving forward. It becomes a it becomes out and and about. When you get settle sat down and you start thinking things, that's when that fear kinda jumps in. Yeah. Okay? So move forward you were clear on your active action. 

 

Speaker 0

 

But you were clear on your why and your path forward before that. 

 

Speaker 2

 

So And I created a plan. You know, I created a plan. That doesn't mean it was rock solid, but I had a plan to start out with. I wasn't doing willy nilly. I knew the strategy I was going to use. It's like, okay. What do we gotta do to get there? 

 

Speaker 0

 

Yeah. That's fantastic. So alright. You ready for some rapid fire questions? 

 

Speaker 2

 

Sure. Fire away. 

 

Speaker 0

 

What is one thing that people misunderstand about you, Jay? 

 

Speaker 2

 

My intensity. 

 

Speaker 0

 

Your intensity. Okay. How 

 

Speaker 2

 

so? Can get really I can get really intense, really focused. And my poor wife, she says, when you get really intense, you have this bug eye look. And it's like my eyes are popping out of my head. 

 

Speaker 0

 

Yeah. The coach comes back out. 

 

Speaker 2

 

The the coach comes out. That's right. That is my passion, though. I've learned over the years to to temper that. Alright? Once in a while, it gets out of hand. But I've learned to temper that because I but that is my passion coming through. Mhmm. Okay. And that's my passion to helping people to move forward, to help them to grow, for us moving. That Yeah. That's what that is. 

 

Speaker 0

 

Love it. If you could have coffee with any historical figure, whom would you choose? 

 

Speaker 2

 

Moses. 

 

Speaker 0

 

Moses. Did they have coffee back then? 

 

Speaker 2

 

I don't know. 

 

Speaker 0

 

It's a good one. Haven't heard that one on on the show yet. 

 

Speaker 2

 

You know why? 

 

Speaker 0

 

Why? 

 

Speaker 2

 

Yeah. I'm a man of faith. Okay? Okay. Deep deep believer. Okay? I I hope that my life on this earth is a reflection of God's presence in my life. Okay? 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

But at the same token, man, what was it like to be up there in that mountain? 

 

Speaker 0

 

Right. 

 

Speaker 2

 

Okay? Sure. To experience that. Because he came back a totally different man, and it's like, wow. I can't I can't even I can't even imagine that. I mean, I had George washing down, you know, some of the just you know, some of the other ones. It was like, okay. I I I would never experienced anything like that. 

 

Speaker 0

 

Yeah. That's a good one. If you were given ten million dollars tomorrow, what would you do with it? 

 

Speaker 2

 

Exactly what I'm doing right now. 

 

Speaker 0

 

Put it into real estate and mortgage. 

 

Speaker 2

 

Real estate and notes. There's been more millionaires created by real estate, alright, than any other avenue. 

 

Speaker 0

 

Love it. What's a challenge that you're facing in your business right now, Jay? 

 

Speaker 2

 

It's not a I wouldn't view it as a challenge. It's just a process. Alright? You know, particularly as we're building out the, growing the note business and everything, it's always a balance, as you know, between finding deals and finding capital. Yeah. We've found the deals. We're hypothesating. We're we're we're always looking for capital partners, involved with that. And Mhmm. That's just always part of the game. So I don't view as a challenge. It's just part of the business that continue to keep, growing and building that that, capital partnership. 

 

Speaker 0

 

So and you mentioned it earlier, but a hypothecation, basically, if if I have money and I don't wanna deal with any management or really put in a lot of work, I could invest with you or lend you the money rather. 

 

Speaker 2

 

Right. 

 

Speaker 0

 

And then you're using a a mortgage note that you already own 

 

Speaker 2

 

Mhmm. 

 

Speaker 0

 

As collateral for my loan to you, and you're paying me back monthly? 

 

Speaker 2

 

You're being paid back monthly. We essentially match up the two amortization schedules because sometimes we'll buy a full, sometimes we'll buy a partial. Mhmm. And, you get paid on a monthly basis. And our ITs, our private capital partners, if we do our job right, this will be absolutely the most boring investment you've ever had because it will show up in the the bank account every month, and we'll talk to you at the end of the year. And, basically, we'll talk to you when that five years is up. We we essentially go five year segments and see whether you wanna renew. Okay? 

 

Speaker 0

 

Gotcha. 

 

Speaker 2

 

And we handle everything else. That's what we basically do. So it's very passive for them. 

 

Speaker 0

 

Love it. If what's a what's a one book or two that you'd recommend for our listener? 

 

Speaker 2

 

I can lean you off about ten, but but I'll I'll do a couple here 

 

Speaker 0

 

1.  

 

Speaker 2

 

And the reason why. How to Win Friends and Influence People by Dale Carnegie. Mhmm. Great interpersonal book for if you don't have the skills in creating friendships, relationships, it's a great book. 

 

Speaker 0

 

I need to read that one. 

 

Speaker 2

 

Yeah. It's a it's a good one. Yeah. Another one is, The Gap in the Game by Dan Sullivan. 

 

Speaker 0

 

Yep. Also a great one. I've read that. 

 

Speaker 2

 

The reason that is so important when you we we tend as entrepreneurs, particularly when we look at goals, we look at what we haven't achieved. We're like, oh, man. I didn't get that. You start beating yourself up. For sure. You didn't get there, but you got eighty percent compared to where you were beforehand. 

 

Speaker 0

 

Right. 

 

Speaker 2

 

It's a mind shift. That helped me tremendously to stay focused in moving forward because, okay, I'm not there yet, but I'm making headway. 

 

Speaker 0

 

Right. 

 

Speaker 2

 

And it gives you so much confidence. That's what it basically does. 

 

Speaker 0

 

Okay. Love that. And it's that's I can really identify with that as far as just being a competitor. You and I were both in sports, and, you know, I'm I'm never quite satisfied with myself. 

 

Speaker 2

 

I mean yeah. 

 

Speaker 0

 

No. And so it is easy to forget the progress you've made and not celebrate that progress. 

 

Speaker 2

 

Exactly. You need to celebrate that. That's right. So Yeah. Now celebrations, a lot of times when we would do a flip was this we would go to Dairy Queen, have it have a, a a blizzard. That was our celebration. Nice. But we recognized it. That's the thing. We recognized it as an accomplishment. 

 

Speaker 0

 

And we're not saying, okay. You've completely arrived and put your feet up and never never do any work. No. That's you still you still have that drive, and you're still 

 

Speaker 2

 

Yeah. 

 

Speaker 0

 

You know 

 

Speaker 2

 

So growing. I got a couple more if I can. 

 

Speaker 0

 

Yeah. Go for it. 

 

Speaker 2

 

Okay. The one thing by, let's see. Gary Keller. 

 

Speaker 0

 

Gary Keller. 

 

Speaker 2

 

Okay. Yep. 

 

Speaker 0

 

I love it. 

 

Speaker 2

 

And the the reason that one is so important in in my eyes is there's always a thousand things to get done as an entrepreneur. What's the one thing that you can do today that's gonna move your business forward? 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

That's the priority. That's the priority. 

 

Speaker 0

 

For sure. 

 

Speaker 2

 

And then if you're if you're new to, real estate investing, you just wanna get started, obviously, you know, everyone's probably it's in real estate has read, you know, Rich Dad Poor Dad. Yeah. But that by Robert Kiyosaki. But the more important book to me Yeah. Was that the cash flow quadrant. I 

 

Speaker 0

 

agree a hundred percent. I I really liked it more than Rich 

 

Speaker 2

 

Dad or that. 

 

Speaker 0

 

I mean, they're both good. But 

 

Speaker 2

 

They're yeah. They're both good, but the first one gets you excited about what could be. The second one shows you how. 

 

Speaker 0

 

Yeah. It really goes into a little more detail about 

 

Speaker 2

 

Yeah. 

 

Speaker 0

 

Investor, employee, business owner, and self employed, I think, if I have those Yeah. Yeah. 

 

Speaker 2

 

Exactly. And it's like, oh, crap. I'm in this quadrant. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

This is not where I wanna be. Right. And up until that, I didn't know the difference. I honestly did not know. Yeah. And it's like, oh, that just became it just opened up all kinds of possibilities at that point. 

 

Speaker 0

 

Absolutely. Alright. So that was at least four books. Any others? 

 

Speaker 2

 

Last one, just Think and Grow Rich by Pauline Hill. It's just a it's just a great book from the standpoint of, you know, you make your money here. 

 

Speaker 0

 

Mentally. Yep. 

 

Speaker 2

 

Yep. First You make your money here. And I'm doing more of that now than I ever have. 

 

Speaker 0

 

But there's not Mainly because I 

 

Speaker 2

 

can't do the physical stuff anymore. Right. 

 

Speaker 0

 

Joe's point Jay is pointing to his the the hair on his head now. 

 

Speaker 2

 

Yeah. So I I It's a mental game. Shiny now. 

 

Speaker 0

 

But and, we've already we've talked about some some of the a lot of the ups and downs you've had and the the mental fitness you've you know, the hacks and and kind of the men the mindset you've used to approach that that adversity and get to abundance. So I'm skipping a couple of questions here. But what do you think is the biggest psychological barrier that real estate entrepreneurs face today? 

 

Speaker 2

 

I think there's two. K. Shiny objects, Andrew. 

 

Speaker 0

 

Yep. 

 

Speaker 2

 

What's the greatest what's what's the greatest thing that's out there? 

 

Speaker 0

 

Lack of focus, basically. 

 

Speaker 2

 

Lack of focus. Yeah. Lack of focus Mhmm. And self limiting belief. Mhmm. Those are the two things. You could do more than what you think. You you are fearfully and wonderfully made. You're you can learn. Alright? Be willing to learn. If you need to shadow somebody, alright, that you trust Yeah. Expecting nothing in return, giving you your free time to learn to do that, do it. Because you'll become immensely, more productive and more profitable down the road. 

 

Speaker 0

 

Love that. 

 

Speaker 2

 

We've we've had interns in our office at different times. We didn't pay them. Yeah. We've had them so they can learn, and they've gone out and done some phenomenal things afterwards. 

 

Speaker 0

 

Absolutely. And I know you do a lot of free put out a lot of free content, webinars, and things like that. So I definitely recommend the listener follow you and, and watch your is it a monthly webinar you guys do? 

 

Speaker 2

 

We have an, quite a bit. We we have a a a lot of free stuff on our website at cassie investments dot com concerning Got it. Note investing. But we do a monthly, Zoom call really for people who wanting to learn more about notes. It's just note, it's, no talks with Kyle and Jay is what I was gonna say. And and we're just basically sharing what we're doing, what we're working on, those types of things, answer questions. If you got a deal that you're looking at, you want a second opinion, we're happy to do that that type of thing. 

 

Speaker 0

 

I mean, there are a lot of lot of, people like you and me in the space willing to give. We we also do have a a paid mentorship program. If if you wanna get serious, you can reach out to me for our one on one mentorship program. But Jay and I both put out a lot of free content, because we wanna help people. And, you know, it you gotta be careful who you take advice from in this space because it's great that there's a low barrier to entry into real estate and mortgage notes, but it's also bad that there's a that there's a low barrier to entry. 

 

Speaker 2

 

It was. Yeah. It could be a double edged sword. Yeah. 

 

Speaker 0

 

Yeah. Exactly. It's a double edged sword like you said. So, yeah, be careful who you listen to, and Jay is definitely someone you you all should listen to. What's one piece of advice you'd give someone who feels overwhelmed by the complexity of real estate investing? 

 

Speaker 2

 

Pick an ish. Just pick one spot that you want to focus in on. Get really proficient on that. Okay? I don't you know, when I started out, I didn't have all the tools that I have now. I mean, it's kinda I have all kinds of different arrows in my quiver, okay, that I can pull out depending upon the deal. I could be creative because of the experiences that I've had, the training that I've had. Mhmm. Get the best training for what you can afford at this moment in time. 

 

Speaker 0

 

Love it. 

 

Speaker 2

 

K? So don't 

 

Speaker 0

 

don't start 

 

Speaker 2

 

As you progress, you'll be able to you you will be able to afford better training. And, again, surround yourself with the best people that you can find for where you're at at this moment and look to upgrade. You'll eventually outgrow those people. So you have to you have to upgrade. You have to you have to elevate your elevate your skill, elevate your network, over time. 

 

Speaker 0

 

Very true. Yeah. It's really good. Yeah. Don't start out doing everything that Jay does now, like, or has done 

 

Speaker 2

 

heavens now. 

 

Speaker 0

 

Fix and flips, rentals, creating notes, buying notes. Don't don't start out doing all of the above. Pick something that makes sense with the current market conditions and your skill set and your your confidence and and focus on that for at first. I love that. Looking forward, Jay, what are some emerging or at least one emerging challenge in real estate that entrepreneurs should be preparing for now? 

 

Speaker 2

 

I don't know the interest rates 

 

Speaker 0

 

are gonna 

 

Speaker 2

 

be changed. Yeah. I I really don't think that interest rates are gonna change that much right now. I I mean, historically, we're in a we're in a normal market right now. I mean, seven percent interest rates are very normal if you can track over the last fifty years. Okay? What we were we got all drunk. Yeah. We got drunk on free money. It's what we basically did. 

 

Speaker 0

 

So true. 

 

Speaker 2

 

Yeah. So adjust your business. Alright. Another thing is if you're doing fix and flips, make abs make absolutely sure you're all in at purchase rehab at seventy percent of the ARV value. Okay? You're not gonna hang around if you if you violate that rule very often. I'm gonna tell you that. You're gonna crash and burn. Mhmm. Okay? 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

The market per se, I don't know. I'll adjust to however 

 

Speaker 0

 

it goes. 

 

Speaker 2

 

Who can predict that? 

 

Speaker 0

 

Yeah. No. I it's a good answer. It's a it's it's an impossible question to truly answer. But like we said before, because you've spent time getting in good at all these different facets of real estate, you're prepared to handle what comes next with with with regard to market conditions. Jay, is there anything else you'd like to highlight before we hop off? Anything that you and Kyle are up to in the next, couple months or anything? 

 

Speaker 2

 

Yeah. You you know, if you if you guys wanna learn more about what we do, we'd encourage you to subscribe to our newsletter. Alright? We did we do that once a quarter. I'm not trying to do something every month. Alright? I I no. A lot. Okay. Is is the answer. Yeah. But we send out a quarterly newsletter that gives you an update on some of the stuff that we're doing. It's it's a great way for you to start learning about our businesses, who we are, what we do, and, it comes out four times a year. You just go to our website at Cassidy, c a s s I d y, investments dot com, and you can sign up for the newsletter for signing up. We will give you a copy of our, introductory book to note investing called Be the Bank, introduction to note investing. Okay. 

 

Speaker 0

 

There you go. 

 

Speaker 2

 

Love it. Alright. And then if you really wanna start digging in, you can also sign up for our monthly, Zoom call that we have with, No Talks with Conjay. But that's, that's really for people who are wanting to learn more and be more active in the business. Sure. If you're just wanting to follow and learn us, the newsletter's fine. Yeah. And 

 

Speaker 0

 

I think things like that are are a good way too. If you're not even sure whether you really wanna be an active note investor and buy whole notes or if you wanna just place your capital with with someone like Jay because, you know, what watching one of a few of your webinars, reading your newsletter, I think is a good idea to kinda get your feet wet and understand. Actually, there's some work to this if I'm gonna really start buying notes and managing notes and dealing with foreclosures and bankruptcy and things like that. So a lot of people end up, you know, dabbling a little bit and then saying, you know what? I'm just Jay, you take my money and just send me back money each month. 

 

Speaker 2

 

Well, you know what? We have found that our our avatar that kinda attracts to us are are are really the people who want consistent consistency and predictability. Alright? That's that's what they're looking for. They're they don't wanna I always make the analogy of the turtle and the rabbit from, childhood, right, stories. Yeah. Alright. You know, the market the market is the market. It's the rabbit. You know, try try chasing a rabbit in a straight line. Doesn't happen. Okay? We're the we're the turtle. Okay? We're turtle money. So, Love it. Consistency and predictability and, you know, it's not flashy. It's not exciting. It's boring. Okay? But it makes you money. Okay? So we're we like that. 

 

Speaker 0

 

Yeah. And it is kinda cool to talk about it at parties, you know, because most people don't know what node investing is. 

 

Speaker 2

 

They don't know what node investing is. How do you do that? You can 

 

Speaker 0

 

do that? 

 

Speaker 2

 

Is it yeah. Is that legal? Yeah. It's legal. You could do it. 

 

Speaker 0

 

Absolutely. Awesome, Jay. Jay Redding, Cassidy Investments dot com. This has been this has been great. Just, so many practical and inspiring tips you've given, you know, leaving coaching that that kind of two, I guess I don't know if we should say we'll say, inflection points. I was gonna say pinnacle moments, but maybe they were more low points. But leaving coaching and then getting laid off from your pharmaceutical job and how you rebounded through both of those transition periods, has just been phenomenal. And I just I mean, just reading that list of of advice you gave, I think I'm gonna need to relisten to that. 

 

Speaker 2

 

I just I I, literally, I just was right nose off, and the thoughts were coming. You know? Once in a while, that really works. Okay? It comes pretty good. That that was one of those good days. There there you go. 

 

Speaker 0

 

I don't know what coffee you had that day, but, I I'd like to join you and Moses. 

 

Speaker 2

 

Okay. Jamie, thank thank you so much for having me on. I consider it a privilege. I I love working with you. You're a man of integrity, and it's always nice to working with counterparties that are people of integrity need to follow through. So Thanks, Jay. Thank you so much. 

 

Speaker 0

 

Yeah. No. This has been great. I appreciate the the kind words. And to the listener, thank you for spending your most valuable resource with us, and that is your attention and time, two most valuable resources. We appreciate your your time, and, check out our podcast website, adversity to abundance dot com. It's the number two, adversity to abundance dot com. And we do love five star ratings and reviews. We'd also love it if you'd share this episode with a friend. Thanks, everyone. Take care. 

 

Speaker 1

 

Thank you for joining us on From Adversity to Abundance. We hope today's episode has equipped you with valuable insights and practical advice to elevate your real estate journey. For more inspiring stories and resources, visit us at w w w dot adversity to abundance dot com. If this episode has inspired you, please share it with a friend who could also benefit from our conversation. Together, let's turn adversity into abundance. Until next time, keep building your mental fitness and your real estate empire.