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Welcome to The Legacy Investor Podcast, where we talk money, investing, business, and what it means to leave a legacy for generations to come. Hosted by Cameron Philgreen, this show dives deep into the intersection of entrepreneurship, investing, and legacy-building, all while keeping God at the center. Whether you're a seasoned investor or just starting out, you'll discover how to align your financial journey with your faith, grow wealth with integrity, and create a lasting impact for generations to come. Join in, as we explore practical strategies, real-world stories, and timeless biblical principles to help you honor God in every step of your journey.
Hey guys welcome to the show. If you are someone who wants more time freedom in your life whether you are a mom or a dad or if you don't have kids you just want more freedom to travel and do what you want to do today's episode is for you. I'm talking with Ian Noble and this guy has some great tips and tricks and investment methods for you to get back some of your time. We talked about all sorts of things. But a big theme of today was how to invest in more passive income that will give you more time for your family and for what you want to do and what you feel called to do. So enjoy this episode with Ian Noble. Let's get into it. All right, Ian Noble, welcome to the Legacy Investor Pod from down in Austin, Texas. Just an hour and a half away, man. We could have done it in person, but here we are on StreamYard. How are we doing today, man? I'm doing great. Thanks for having me. Yeah, I didn't know you were so close. You know, Waco is a famous town now, and you know why, right? Why? Chip and Joanna Gaines. Chip and Joe, baby. Holding it down in Waco, Texas. I know. We're famous for good reasons now. I mean, we got a TV show, no more cults, hopefully. Yeah, it's a great place. Well, man, catch us up to speed. So I know you came out of the dry cleaning business and you exited this business and then started investing in real estate. But Just share us kind of your story and how you got started investing in real estate and what you're doing now to teach other people about passive income and tax strategies. I think it started when I was a kid. I watched my dad. He was a business owner. He was a real estate guy. And I noticed when looking at what he did on his day to day, he was much less involved than what I thought business owners should be. And the more I learned about what he did, the more I understood that his concentration was or focus in real estate. And that allowed him a lot more free time. So I got into his business right after college, he was burnt out. It's a customer service business. And for any business owner out there, they know that that can be tough day in and day out. So I get involved, I buy the business from him, but I started investing really early. This was 2012. I buy my first house. I'm just a few years out of college. Then 2014 start buying single family rentals. And along the way, as I'm running the business, I'm putting all of my profit income, anything that I take home personally back into real estate. These are all projects. I was doing them myself. I didn't have any partners, just started building little by little with the hopes that someday I could check out and have all these rentals that are paying the bills. So, Did that over and over and over. And it's a long game and it doesn't feel like it's changing much in the beginning. But looking back to 2014, I'm happy I started and sold my business. And now I'm a full-time real estate investor and I help other business owners invest with me. We co-invest as a group and get into private lending deals and mobile home parks. That's my area that I focus on. Rad. So why real estate? I mean, you come out of this with this money. If you don't mind sharing what amount of money you're coming into and then why did you hop into real estate? Was this like a tax shelter? Was this just something that sounded good to replace your income? Why real estate? To put things in perspective, dating back to when I bought the business, I went seven figures in debt when I bought the dry cleaners. and years later i was able to pay that off and then it was a it was another exit of a similar magnitude and so get out and you realize all right where am i going to put this money at the time money market accounts were great it was five and a half percent i think that became a placeholder day one and the idea from there was to position it into low risk investments and figure out how I could best use that money to grow and hopefully work less. And I started deploying it into things that I felt were the next closest alternative in terms of safety. There was all sorts of chatter on the internet about private equity and venture capital funds. to somebody that was used to running a profit and loss statement and had 10% margins, that world seemed very foreign to me. It's just not what I am. I'm not a risky person. So I dove very heavily into low risk investing. I'm the guy that is bunting the ball and running to first base and not swinging for the fence. I'd much rather take that than than some of these risk laps and these risky things yeah because you work so hard all these entrepreneurs and high income earners everybody we all work hard and then if you put your money at risk just for the upside i think you're selling yourself short and you could take away some years it's a really painful learning experience if for those unfortunately that have gone through it to to have and then to have it taken away and i didn't want to encounter that so everything I do now is helping people find low risk investments and we go at it as a team. Yeah. So what are some of those? I mean, is real estate in the, in the mix there or are you talking about other stuff? No real estate's all I do. Yeah. Awesome. So what makes, tell me this, what makes real estate safe? And I, I'm excited to hear from you who it sounds like you're pretty risk averse. Whereas I, I've just been known or people just tell me like I'm super high risk dude. So it's interesting. I think we have that opposite character trait going on. And yet we're invested in the same thing, which I think is so cool because there's a lot of safe bets in real estate and also kind of risky bets. So why real estate as a safe second alternative to money market funds? The first reason I went into it is because I understand it and it's something that feels real. So in the stock market, I know you can look at historical averages and see that people are earning eight, 9% over the years, but I've also heard horror stories where somebody was getting ready to retire this happened to a family member of mine getting ready to retire probably over leveraged in stocks and ended up in the long term you make your money back many years later but if you hit a stock market crash like 2008 for anybody that wanted to retire right then and there they got stuck yeah it was a tough time and fortunately i wasn't even invested in the market at that point and a lot of people seem like a young guy a lot of people our age weren't and all they know from the market from 2008 on is bull market growth growth growth up into the right and it's been great i have this conversation with people all the time and they say i'm not going to go over to real estate the stock market has done incredibly well for me and i'm in the stock market too i'm not just a real estate guy only but i do believe that things will correct themselves and I'd like to be spread out to where I can take a correction somewhere, but I've got the stability of the asset because real estate's valued pretty easily. You're looking at your rent, your net operating income, it's run like a business, then there's generally a multiple based on that if you're trying to sell it, but if you're not and you're just holding onto it and keeping the cash flow, then it's pretty consistent what you know is coming in day in and day out. Yeah. So you're investing in real estate, obviously, as a safe investment. You're investing in this asset that's going to grow over time. But what about cash flow? Is it still possible? You've been in the game for a while, since 2014, 12 years. Is it still possible to buy real estate for passive income, for cash flow? 100%, but you have to be very careful on what you're buying it for. So I'm very well aware that starting in 2014, it was easier to cashflow. Back in the day with single family, it was the 1% rule. If you bought a house for $1,000, you wanted to make $1,000 in rent. And so long as you did it, it was okay. It's a lot tougher to come by that today. I'm in Austin, so the market has had, it's benefited from appreciation. Homes have gotten more expensive. And rents followed. But lately there was just this chart that had come out. Austin specifically is back to pre COVID rent levels. We saw this big spike and then everything went back. Yeah. Yeah. Like a lot of things, everything was inflated during that time, rents included, and now they've normalized, which is where they should be. But I think today it's, It's harder to find cash flowing assets. It comes at a cost. And what I mean by that is you can, in real estate, I think every asset class, whether it's multifamily or commercial or residential, you can be successful in any class that you want. You have to focus on what level of risk you're willing to take and what return you expect. So for example, if you buy or invest into a class A brand new property, it's beautiful. It's very expensive for people to get into. You have to expect you're not going to get much cash flow as an investor. Where on the other end of the spectrum, if you invest into a rundown property that's half vacant and you know there's a lot of upside once you fix it, you're going to get higher cash flow. So you have to find that middle ground. I, in particular, want cash flow from day one. It's a requirement for everything I invest in. Whereas certain deals don't give that. Development deals, things that come with more risk, you can calculate where you put your money and expect that you're going to get a return in your first year. And that's a non-negotiable for me. Yeah. I love that, man. Yeah. I'm in this 50,000 square foot commercial deal right now. It's pretty distressed and we're going to do a lot of work to it. We're going to put like I don't know, two or three million dollars into it. But one really great thing about this deal is there's like three tenants right now. Actually, yeah, three or four. One of them is vacating. But even with just like four tenants and the future tenants are going to be like probably 20 tenants this thing has capacity for but it's cash flowing from day one so we can just like I'm not stressed about waiting on the city waiting on engineers to do their thing like we can wait a year before anything happens and we're going to be fine it's awesome so love that yeah I'm curious you mentioned the 1% rule you know, and that it's tougher now. So what's your like back of the napkin math, like for, for buying deals. And also I, we talked about it off air, but kind of what's your, what's your mix, your portfolio mix and like, what are you investing in? Cause I think a lot of people listening to this are in single family homes. Um, but you're in like triple net commercial stuff. And so kind of what's your mix and then what's your criteria for investing in something? Sure. So I'll answer the mixed question first. I'm what you'd call an active investor and a passive investor. On the active side, which is stuff that I own personally, manage personally, that would be residential homes and commercial triple net properties. I started off in residential and I love residential. I think most people do start off there and there's nothing wrong with it. What I learned is that I had a couple of bad scenarios with tenants. where we had to go through a tough turnover process, had one lady vacate and left a house filled with fleas, things like that. And you're like, my gosh. And you don't find out until you get in there. And more and more I see this is the more often I want to put things back onto the tenant or see if they can have some sort of ownership in the properties. residential commercial on the personal side and then the mix on the passive side and what i do now full-time mostly focusing on passive is going to be mobile home parks and private lending those two accomplish two very different things when you buy into a project or you're invested in a project that's a property in this case i choose mobile home parks There are, there's volatility. It's very low. Most of the time you can say that we're going to provide consistent single digit returns. And that's what I'm looking for. High single digit, low double digit returns, but it's running a business. And so there will be ups and downs. There's going to be the first year or two, similar to your project. It's cash flowing from day one, but cashflow as you guys repurpose this 50,000 square foot commercial building, it's going to be a little bit lower when you're pumping more money back into that building. yeah so i like that component it's there but then on the private lending side you're not owning real estate you're owning the notes or you're lending you're acting like the bank and that is the cash flow strategy that's going to be immediate and consistent just like a bank would write you a mortgage you pay an interest rate there's a fixed term and this is your monthly payment And you have first lien position, which is important too. If they don't pay, then you can bring that back in house and either sell it off or you have plenty of options. So I look at both. And when you mentioned, how do I assess something today? I like to view everything through the lens of opportunity cost. So in my private lending fund, I know exactly what I can make and what comes in monthly. So for a lot of people that's eight, nine or 10%. And when I'm looking at new investments, I'll focus on that and say, what will the new property bring? Will it bring 9% and will it bring it every month? Will it not? You know, these are questions you have to weigh for yourself, but I use that private lending side for anything that I do now as a metric for opportunity cost. Because if I'm going to take on more risk and earn maybe 13 or 14%, then you're looking at how much time is this going to take me? Will it work? And is it worth stepping away from a guarantee to get into the risk for a couple more points? So it's always balancing and trying to grow little by little. And as you know, you're in the business as well. real estate's a long game. And sometimes these decisions, you, you're not going to see a large monetary value to every decision that you make, but over time it stacks up significantly and puts you in a much better position years down the road. Yeah. So it sounds like you're super passionate as I am about time freedom and you know, you value your time heavily. It sounds like you have family and kids. Um, or we, I think we talked about that off air, but what are you, so yeah, that's dude, I have three kids too. How old are they? Five, two and eight months. that's awesome. We're like the same season of life. Yeah. I'm four years old, three years old and almost a year. Um, so it's like 11 months. That's awesome, man. So time freedom is important to both of us. Yes. Yeah. So time freedom is so important and we gotta, we gotta hustle. And like when we're on podcasts like this, or I just got, actually someone just told me recently, like I, I, and I received this as feedback as for my like personality, but they're like, you, you, you kind of always, have this air like you are in a hurry or if the conversation's not going where you want it to, like you just kind of leave. And this was actually like critical feedback of me as a person. And I was like, oh, OK, like, tell me more like I received that. I want to get better about that and not make people feel like I'm in a hurry. And I was talking with my wife about it later. Like, is this, do I need to like change, you know? And I'm trying to like be receptive. And she's like, well, we have three kids. And like, if you're in some boring or silly conversation with somebody and you could be with me and the kids, or helping me get dinner on the table or helping, you know, of course, you're going to leave that like everything seems less important. And so I don't know what to do with them. Still processing it. That was literally three days ago. But you're right. Everything that you decide from this point, especially in this season of life with young children, should be how can I give the most time back to my kids? And, but you obviously can't take the backseat 100% because you're also at a crucial point to grow your wealth. So it's an interesting dynamic to figure out, okay, how do I grow on one side and put in a lot of time here, but yet make sure that I don't lose these precious years with my children. Exactly. From your four-year-old, the development jumps that you're gonna see become less and less to where as you're a three-year-old or you're almost one-year-old, you're seeing all these new developments in their life. And for any parent that I don't have kids that are older than five, so I don't know, but as your kids get to eight, nine, 10, you're dealing with different problems, but I don't know that the surprises come to where if you miss a day, you're gonna see, wow, my kid really changed. Yes. Parents with older kids probably say I'm way wrong on that, but you know, this is a special time to spend as much time as you can because you can't get it back. So I was privileged to have the opportunity to spend more time with them and That's how I design my current business and my life to where you can work when you want to and when you need to. But for example, like today's a snow day in Texas, right? I don't know if you guys- Oh yeah, yes. It's Monday, January 26th. If you're listening to this probably a month from now, like it's very icy outside. Yeah, Texas shuts down. And so yeah, all of Austin shut down and the kids are at home and it's fun. You can go out and sled down the hill with them We spent a lot of time sledding yesterday, which is a rare thing in Austin, Texas. But that's something that I enjoy now that when I was a burnout entrepreneur, I didn't have. I would have been stressing today about stores closing, not having adequate sales, payroll. communicating with customers, drivers, keeping people safe. These are all the things that would go through my head as an entrepreneur that now with a business being built around real estate, I'm not as concerned with. And so it's a huge weight off my shoulders and lets me be more present at home. Something that I struggled with when I was a day-to-day operator in my business a couple of years back. Yeah, I'm so glad you said that, because that's exactly where I wanted to go. And what I wanted to ask is like, what are you more focused on more, you know, approaching with, I don't know, more of a pro positive mindset? And like, what are you staying away from? With this, you know, five year old, two year old, you got three kids, time at home is important, everything we just talked about, like, what are you and what are you encouraging other people to focus on if they're in your same season of life? We talked about it briefly in terms of making sure that you have time for your kids. Focus from a professional level. Do you want to discuss the business side or from a personal side? Where are you headed with that? I think let's talk about personal in a moment and just like, I love how you're talking about how important these years are, but on the business side and investing and investing in assets that are passive, as passive as possible, like what are you focused on and why? And what are you staying away from? My focus in passive investing is low risk cashflow from day one to where I'm finding very, very good operators. I do not run the day to day. This goes in, I want to be passive too. So yes, I have a business, what we do. We have a private network, we co-invest as a group, and hopefully you're getting the returns that are expected. So in real estate, there's always risk, but the longer I'm in this business, I know that it comes down to the people that are running these deals. So my focus is on two fronts. It's safe finding safe properties and safe investments that I put my money into first. It's a little bit of a different scenario. I got into this business for me and my family so that I could invest in things that I felt good about. Yeah. And it organically went into why aren't I helping other people do this as well? So the day is spent between working with investors or a network to develop those relationships because real estate is a people business. Yeah. You look at this property and asset, but it doesn't run itself, especially with these larger scale commercial projects whether it's multi-family apartment investing or mobile home parks which is my area of focus you can have a really good deal but if you don't have a good operator then you're in trouble yeah They can make it back. Let's talk about the operator, because it sounds like that's the crux, right? Mobile home parks are awesome, but only if you have a good operator. And it's hard to have that in a single family home world. So, I mean, is that the crux, would you say, is the operator? Always. And before I got into this business, I was exploring the world as a passive investor too, not from the business side, but just as an LP, a limited partner in these deals. you don't know what you don't know and you learn quickly that regardless of what marketing or solicitation you're getting about these deals you really have to figure out how to vet the person who's providing it to you because anybody can make a fancy pro forma document something they could make on canva today but you want to know what happens when stuff gets hard have they failed before for example i don't like people that if i'm i ask that question all the time how have you failed? How can this fail? And if somebody is cocky or says, well, this can't, and here's why we don't fail. You know, if you pick up any sort of gut feeling that that person may not being honest with you, it's like, go to someone else. There are too many opportunities for people. And especially in passive investing, you are number one, the reason you want to be passive is because you don't want to spend your time to do it yourself. myself included. So how do we do that? And who does these deals? Well, there's somebody very active on the other side of that door working and you're using that team and you're leveraging that team so that they can work for you. All you're doing is vetting the deal and putting your money into it. But along the way, if that group and partnership isn't doing their job, everybody fails. And for me, A lot of the people that first start to invest with you are friends, family, everybody starts this way. There's no amount of money out there that makes it worth it for you to get into something risky to A, lose, which is the most important, other people's money. b yeah i would lose my own money too but know that it's worth it if you're not really confident about the group that you're working with have you checked it have you dug deep online and tried to find dirt on them have you background checked them properties these are all things that i do if something's going to be brought to our network because i couldn't sleep at night if i made a risky decision marketed it to people that this was a good deal and ended up losing i don't like losing Yeah, that's so good, man. So, so let's, let's put this in perspective for, I'm curious to hear your expertise on, you know, obviously I think people can wrap their brains about around finding an operator or someone to run a mobile home park or, Um, or a storage facility. I mean, I'm talking about like the boots on the ground. You usually have like a boots on the ground person. That's like filling the spaces and right. Fine. Like signing leases and things like that. That's what we're talking about. Right. Um, so for someone who has like say 10 single family homes and they want to buy back some of their time, they want to spend more time with their three kids. What advice would you give that person? Number one, congratulations, because to get to 10 is a huge milestone and they're probably reaping the benefits now. When they sell that property or if they want to find something to where it's more active, you've got two options. Sorry, where it's more passive. You keep your 10 single family homes and you employ a property manager. For years, I struggled with this and still do on my active portfolio because certain properties are easier than others. And sometimes you don't want to give away yes okay 10 of whatever the property management company is is doing i would suggest that if somebody wants to get out of that and into something different to create more time freedom that they put their They put their faith in projects that are low risk, but they find that person and really be careful about who they invest with to take that money and make good of it in larger scale projects. Because scaling individually is very difficult. If you're buying single family homes and your market has $200,000 as the home price, well, if you have to come up with 25% of that, there's a large chunk of cash that you're putting down for each property and everything happens one at a time. You have 10 HVAC systems, 10 roofs, 10 refrigerators to buy, and your profit can be wiped out in a year on any given property from something going wrong, especially with how tight cashflow has been in that market. So, personal example, I just sold my very first rental, a single family home, and I'm doing a 1031 exchange and putting that into a triple net commercial property because commercial tenants stay longer, they cover more, they run their life like a business because they are a business and the likelihood of them succeeding and being an easier property is much higher as the landlord than it would be changing tenants every one to two years with somebody in your home i've had great people i have a gal that lasted 14 years in my first rental as a as a renter but see that too often and so now that i'm in this space of mobile home park investing the average tenant their stay in these mobile home parks is 14 years so if you compare that against other asset classes and you're looking for some place to where can i lower the burden and have somebody you know something that's stable the fact that people can stay 14 years in a place is pretty incredible we've got an affordable housing crisis things are getting more expensive and that is why i devote my time to that particular asset class not because it's the best and the other ones aren't good it's because I'll say it's a more conservative approach to not having the same risk that you'd run into in other spaces. But you can do it in any asset class, in any type of investment. The more you're in it and the more seasoned you become, the more you see where your efforts should be placed. And I hear a lot of talk in the industry about you know, we were in single family homes and then we graduated to bigger properties. I know people that are incredibly successful that only have single family homes and are doing way better than all these people in multifamily and other projects. So I'm just happy when I hear that people are involved in real estate, whether they're active or passive in it, get involved somehow, because if you talk to wealthy individuals or people that are quote unquote successful, Nine times out of 10, those guys and gals, whether they started in real estate or not, they're in it now. Yeah. Back to the time thing, first of all, that was awesome. I love that. And I think, yeah, property management, it's hard to stomach, but that's kind of my next step is I want to find a good property manager. But back to the time thing, do you have a calculation – for like if I'm going to invest in this thing, take on this project, do this work, this active work, like what's your quick calculation for your time and what it's worth and how much it's gonna cost and what's the return on my time? Do you have anything like that? Like a quick back of the napkin calculation that people can steal from you? I have a cheat sheet that I've created and we'll share it with everybody here. And, uh, it's, it's for anybody who's curious on what passive investing is. It's quick, it's effective. It shows you what to expect when you sign up on people's mailing list. That happens by the way, for most all people that are either raising money for their deals or investing into deals, they'll you'll get on a private network and a list. then you'll learn about what they do, get to know them. And then when opportunities come up, they're announced on that email list. So my guide is what I wish I would have had when I started 10 years ago, or if somebody would have come to me with this years ago to say, hey, you don't have to do it all yourself. Because honestly, I didn't know that there was another alternative. I was a business owner. I was used to making these choices and I figured if I'm going to buy property, I have to do it myself too. So it's a whole nother world. We'll share that in the notes, but I think it's really helpful for people to at least educate themselves. And if anything, learn what the other side is like, because man, it's dangerous with the internet. showing you videos on instagram or wherever you get your content about all these high returns and you've got kids driving around lamborghinis making money here and there there's so much smoke out there that it's important to just become grounded and realize that that's all flash and that's not what most people look for flashy burn you know it's don't do it Yeah. Okay. So first of all, guys, I had no idea that he had this cheat sheet. It's so funny. I feel like I nailed the question. It's like, wow, that's awesome. So yeah, on Ian's Instagram, Run Steady Investments, download our free passive income, passive investor starter guide. and just name email get access now and i'm gonna i'm gonna go through this cheat sheet because bro i want to free up more of my time and have more time for my family and only invest in stuff that is appropriate for you know where i'm at and maybe someone listening to this is is like 10 steps further or 10 steps behind me or you and this will be really helpful so that's awesome man um Love it. Okay, dude. Let me tell you one thing about that too. A lot of it isn't about, you'll notice when you read it, a lot of it isn't necessarily in real estate. There's some terms that are helpful, but a lot of it is just asking the right questions because I was there once and I was afraid to ask the person that I was on the phone with the questions that I felt, but I thought maybe that's going to come off as stupid or this question is going to make me look like i've never done this before and so i didn't ask and you shouldn't ever do that so you want to ask these questions you want the person on the receiving end to be patient and and answer these questions for you If they don't move on, somebody will. Someone will help you like a human and not this business. This isn't a suit and tie business either. The real estate world, you'll notice a lot of t-shirts and easygoing people. That's what you need to find if you're going to partner with somebody. That's good advice, man. Yeah, guys, six pages, cheat sheet, go get it. And just in exchange for your name and email, I'm sure Ian would appreciate that. And let's talk about real quick before we hear where people can find you and work with you. So this is called the Legacy Investor Podcast. I feel like we're very aligned in this way that I want to leave a legacy with my kids spiritually, financially, emotionally. I want to be connected with them. So what does leaving a legacy mean for Ian Noble, spiritually, financially, whatever direction you want to go? I think the cop out answer is for everyone to say their legacy will be left for their children. while it's true, it starts with yourself. You have to be proud of what you accomplish in life. And today, what moves the needle is your own actions and how you get involved right now. So my legacy will be built around the fact that I took action it was low risk and I took little wins over and over and over again. So for me, that allowed me to travel. I want my kids when they, you know, when the time comes, whether they inherit or they get set up in a certain way, I want them to, money aside, that real estate's a path and an option for them to take. I'm already trying to get my five-year-old daughter to understand what rent is and why we buy this and why we rent. We're getting there. It's taken some time, but I want them to be educated because everyone always says your kids can learn for yourself. And I think that's doing your children a disservice. If you've learned all these things along the way, Teach them, set the bar, and let them advance beyond what you ever could have done. And that is the definition of legacy. That's so good, dude. I want to ask another question before we hop off here. This has been amazing, by the way. I feel like you've given a ton of value in just 30 minutes. How are you... Because it sounds like you're kind of set up for success in your life and your kids' lives. How are you planning on instilling... work ethic in your kids um i'm not saying like you don't work hard obviously you do but how are you planning on instilling that in your kids now that you've kind of set up all these amazing assets that are just kind of feeding you money and it's relatively passive we live frugally at home and so at a fundamental level, I hope they inherit that and are frugal as well. I think that before investing, if you have a basic understanding of buying things that as low as you can, or making sure you're saving adequately these are the tools that will help kids and that that's what i want them to take away because back in our day i don't know if at your school but they didn't teach personal finance there was no such thing and as an adult it drives me crazy when i see people that have opportunities in front of them and they don't take it not because they think that it's right or wrong it's because they don't know any better or that's the way it's always been done so i think i want my kids to challenge themselves to have a frugal mindset know that it's hard work and for them to be able to then build something for themselves so if that's you know a lot of people in the real estate industry toss around the idea of ditching the 529 plan for their kids and buying them a duplex or a fourplex or something where, you know, by the time they get to, you can schedule that loan too, by the way, by the time they get to college age that that thing's paid off. That's what we're doing. Yeah. Or that's one of the things we're doing. Yeah. Yeah. Yeah. You should have a 529 also. I'm not knocking those, but imagine your kids getting out and then having them somehow participate in that project and they get out at 18 and they know how to be a landlord and know what it's like to find tenants or deal with turnovers. Your kid is going to be leagues ahead of other people. The perfect example, I had someone the other day, they asked me about investing into private lending. I was like, well, it'll pay you 8%, but And that's good, but tell me more about what you're invested in. So this person was unique because they carried a lot of debt. And a lot of people have credit card debt, and there's no problem with having that. I'm not knocking it whatsoever, but you have to – Put this down on paper and if you have high credit card debt and if you're paying 20% interest, well then if you're trying to invest money into something that earns you eight, you're losing money. Have to beat the system that you're up against. And then once you reset and then you can start to grow from there. So all we can do is keep trying with our kids and hope that they pick this up because you can go one of two ways. My kids will be hopefully in a great position to take what they've learned and you know, same with yours, but For parents that make their child's life too privileged and they don't have to do enough and everything, it's very difficult to break that. And so that would be a failure to me as a parent if my child, it was noticeably, they were privileged and they acted like it and they didn't work hard. And I want to instill the hardest work ethic that I can give these kids so that they can make it on their own. Because there's lots of ways to do it. And real estate's not the... The only thing out there, it's just what I chose. But I want to make sure that they get the work ethic and the fundamentals down right. And then, you know, let them run with whatever they want to do. Yeah. I love that, man. And I love real estate because there often is a level of work, whether it's just administrative work. I mean, that's one thing, but also like this is real property we're talking about. You can go plant some, you know, landscaping, fix it up. You can go as deep as you want. You can rewire the whole house, replumb the whole house, put a roof on, you know, and those are going to teach really valuable lessons. So what, if you could pass on one lesson about money to your kids, what would it be? It's a tough question. Live beneath your means. It seems so simple, but I see so many people that drive sports cars and have the nice home. And that never shows the full picture. You never know what's behind the curtain. So if they can see that and you can instill those values, you've won as a parent. Drive an old truck. Whatever you do, don't give them the newest, the flashiest, because then you're setting the expectation that that's what they'll get. Let them get that themselves. Don't give it to them as your child. Brilliant. Brilliant, dude. I love that answer. All right, Ian. It's been a great conversation, man. How are you helping others these days, and how can people reach out, find you, work with you? The most helpful thing I can do for entrepreneurs or anybody that's looking to invest in real estate is hopefully educate them on what passive investing is like. We mentioned the cheat sheet earlier that does put you on my mailing list. And I'd love to meet everyone who gets on there. I generally do. And I'll reach out personally to see what your goals are, how we can help. And then if co-investing with me and our group is something that's interesting to you, then I love helping people that way. And more than anything, I tell people, even if you don't feel that you're ready for it, it's helpful to know what that world looks like because such a big push towards, even if you're just in the corporate world and you've been a 401k stock market investor, more and more people, especially the wealthy are working in alternatives, working in real estate. and expanding their portfolio. And so people really need to take notice that real estate's here and it's here to stay. It makes up a large percentage of the wealthy's portfolio, but you don't have to be some billionaire to get involved with it. So I hope I can teach people and get people's foot in the door so they can start getting interested in it. Love it. Let's see, was it runsteadyinvestments on Instagram? No. So my Instagram, we'll put it in the show notes. It's Ian underscore invest. But we'll put the link there. Again, Cheat Sheet's the best thing that you can do. It'll lead you to my website. I'm also active on LinkedIn. So if that is your profile of choice, find me there and I'd love to connect with you. Love it. Ian underscore invests on Instagram. Also, Run Steady Investments. What a cool name. And guys, reach out to Ian for coaching and help and his awesome cheat sheet. And dude, thanks for joining us today. Love chatting with someone. You know, I have everyone from 20-year-olds to 70-year-olds on this pod. So it's just fun to talk to someone in my same season with very similar goals and aspirations. So thanks for joining me today. We'll see you guys next time. Thanks for having me. Guys, thank you so much for tuning into this episode of The Legacy Investor. Hey, if you wanna help us grow and support us, please leave a review on Apple Podcasts and Spotify. That really helps a lot. Please subscribe to my YouTube channel, Cameron Filgreen. It's still new and growing, but I am gonna start posting on there more regularly. Follow me on Instagram at Cameron underscore Filgreen. And if you know someone who should be on this podcast, Go fill out the form on my website. It's CameronPhilGreen.com slash podcast. Fill out the form there. I'd love to have more guests on this podcast. It's been a blast. And music is by Eric Lopez Villaverde. Reach out to him for all your music needs. On Instagram, he's Eric Lopez Villaverde. Hope you guys have a great day and thank you for tuning in. Bye-bye.