Uncommon Advice
Business is a game you have to 'Play to Win' and it's the Uncommon Advice from Experienced Entrepreneurs that helps produce your winning playbook!
Uncommon Advice
Andrew Schulz's Meteoric Rise, Instagram Broadcast Channels, Investing vs. Saving
In this episode we dive into the new Instagram Broadcast tool and how it's a game-changer for creators. We go deep into the art of audience building, discussing how to monetize your hardcore fan base and why engaging content is your MVP.
We move on to discuss the success of Andrew Schultz. He's got a knack for making us laugh, but his entrepreneurial prowess is no joke. We follow Andrew's ups and downs of his journey; from being turned down by networks to selling out at the Scotiabank Arena and hosting a popular podcast with Joe Rogan.
As we wrap up, we pivot to a topic that's close to our wallets - saving and investing. Whether you're an up-and-comer or an experienced player, knowing how to make your money work for you is a strength to have. We reveal the good, the bad, and the ugly of investing in real estate and cryptocurrency. Plus, why a rainy day fund might not be your best defense and how to bounce back from a bad investment.
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Hey, you help them figure what they want out of life, but you know everything that come with a price. Want to maximize your money and time Might have to take the uncommon advice.
Speaker 2:Back at it. another episode of Uncommon Advice. We got some really cool stuff that we're excited about today We're going to talk on, but first let's talk about them. Denver Nuggets.
Speaker 1:All right time to go. We're out of here. Yeah, yeah, tough loss It was. But I mean shout out to Denver. I mean that was great. That's a great dual combination between Yolkic and Jamal Merri and great game plan from Mike Malone and all that. So shout out to them. I think it's the first NBA championship they've won. They've brought to the city, so that was really cool for them. But you know something, when the heat beat the Celtics, celtics fans, I would say, were assholes, but Nuggets fans are not. Like It's a cool thing. Actually, nuggets and Heat fans I think I was looking on Twitter They're going at Celtics fans right now. They're like ganging up. Oh no, yeah, miami couldn't pull through None of them. Both Miami teams only won one game, and well, one is Miami one's for a lot of deal. But the Florida Panthers also almost got swept by the night.
Speaker 2:So well, if I like Jokic's response when he is in the interview afterwards and they're talking about the parade and he goes men's parade. I got to go home. I mean I don't blame him.
Speaker 1:Thursday I mean for them.
Speaker 2:They're off. I need to go home.
Speaker 1:They don't get as long as an offseason because there's a lot of these teams. But we'll see. There's trade talks that Miami might be getting some big names. We'll see how much of that is true. It happened last year and nothing happened. That's going to be interesting. But, nate, guess what now? Now it's football, what is it? 90 days, i think, till kickoff.
Speaker 2:Oh yeah, So football. I'm not sure a baseball fan That's baseball, but I don't know who's baseball fan.
Speaker 1:Yeah, I'm kidding For you baseball fan. Yeah, For you baseball respect. But yeah, I'm not a baseball fan either.
Speaker 2:So let's get into this. So we got some stuff We're going to talk about, some building, some engaged audiences and a new tool that is out and a new strategy. It came out a little while ago, back in February. It is Instagram broadcast. It is a new feature that they rolled out. That's pretty neat for influencers and creators. It's really kind of being tested right now. It hasn't fully rolled out, i believe.
Speaker 1:Yeah, correct, It hasn't. But it's funny because I feel like all these we talked about last week about the Twitter, So I feel like all these are not competing with each other. It's like what's next? Who's going to keep bringing out the next latest best thing for these creators and content and influencers and stuff? So it's like Twitter comes out with their subscription based model, Instagram has their broadcasting channel And it's like what's next? What's the next tool you're going to give these influencers or content creators to continue to grow? So it's cool to see how the game is competing to help these people get their names and brands out even more.
Speaker 2:Yeah, And talking about audiences, the tool itself is. For me, when I started looking into it and seeing how to leverage it, it's really a way for these influencers, these creators, to really engage on a more personal level one to many, personal level, inside of their platform. So you could have millions of followers, but maybe you only have 100,000 of them are hyper-engaged, so it's a lot of you kind of people can subscribe to get your updates and get information from you faster and ask questions. It's really cool in that feature that allows you to build a. It's one to many in regards to the tool, but it creates almost a personalized experience for you to communicate with your hyper-engaged fans. Which leads me to the thing of when you're building an audience.
Speaker 2:When you're building an audience, there's many different levels of your audiences. Right, when you're building a million-dollar audience, those levels change. You have people that are aware of you And we're not going to talk about the levels of awareness like in Break Your Advertising, which Gene Torch talks about, but there's levels of awareness. But in audience building, there's a level of engagement. There's people that are exposed to you, they know you, they see your stuff. There's people that are engaged in your stuff and watching it, kind of checking in here and there and they might send a message here and there. And then there's people that are your raving fans, that are hyper-engaged, they're commenting on everything, they're sending you messages, they're liking, they're following. That is the type of fan really that I look at Instagram broadcast being for Those people. It helps you turn those fans not only into give them a model and a place to communicate with you at a closer level, but also allows you and Avenue to monetize those fans.
Speaker 1:Do you think there's any benefits of that first audience, that the people who follow you and see it, but there's not much engagement. Do you think that would be a good audience to bring into a broadcast channel to see if it picks up the engagement With the more?
Speaker 2:content you create. So eventually people don't know about you. Then they know about you, then they decide whether they want to pay attention any further or they don't want to pay attention. So then you get them into that middle. You've got this big circle right.
Speaker 2:On the outside of the circle people might know about. You've seen your stuff, not really paying attention. You've got the people in the middle of the circle that are paying attention, still deciding whether how much they want to engage and follow you. And do they really enjoy your storytelling? Do they enjoy the content that you're putting out? Are they gaining value? Are they being entertained at the end of the day? And then there's that bullseye like right in the center, a nose of the raving fan. There's people that are the bullseye raving fans. They started on the outer limit.
Speaker 2:And they worked their way in, so it's part of the process.
Speaker 1:Yeah, and I think it's also going to the same approach as Twitter. I think it's a subscription base, like you said, where you can monetize it. So the reason I learned from the broadcast channel. One day I was just on my phone rings and I get an invitation, basically notification, to join the Miami Heat broadcast channel. Funny, right, i'm one of those raging fans. So I see it And I think I'd send these to you. I was like, hey, have you heard of this? And we talked and we both were like no, and you go in there and they'll keep you updated. Like throughout the game. Like the game's going on And you're getting highlights, you're getting posts, you're getting, hey, this is a score, hey, this is where we're at. And halfway through the third quarter, this is where we're at. And you see people engaging 20,000 likes, 15,000 likes, 13,000 likes, 20,000. So it's like there's a huge engagement happening, but they're keeping it.
Speaker 1:And I feel like content creators are going to start using this broadcast channel to put unique content on it. Right? So let's say something they don't want the only paid people can see. For example, let's say Mr B drops a video And he does a video like that And it's something he doesn't want to share with anybody. He just wants to share with his people, who are paying to be a subscriber, basically, on this broadcast channel, and that's how he monetizes it. And as more and more people find out, oh, he's posting stuff that we can't even see just here on the outside. How can I see that They're going to start paying for this? So it's also giving the opportunity to these content creators and influencers to make money, the same way Twitter's doing and all these other platforms are doing.
Speaker 2:Yeah, and it's interesting because gated content has been around for a long time, right? So you used to have gated content on your website. I remember when we had WordPress plugins that we'd use, that we'd gate the content. Then they had to pay to be able to access it. And it's interesting to see the social media tools actually start taking some of those same things that have worked decades ago and putting them inside of the platform, because, ideally, what do they want to do? right, when you Instagram, facebook, twitter, they want to keep you on their platform. They want to keep. You are their audience, right? You're their billion dollar audience, and so they want to keep you there, because that's how they monetize that traffic.
Speaker 2:So they're allowing these influencers creators. They understand that the value of how influencers creators are creating million dollar audiences, but they're taking them off their platform. So this might be one of their ways, too, to really kind of keep those people inside of it. They're letting them build those million dollar audiences inside their platform, which is great. It's a good opportunity. It should be leveraged. But you should also be cautious, because if they decide to change that feature, they decide that they don't like what you're saying, which will get into the next segment. They may shut you down and you may not have access to that audience at all. So, no matter what, when you, as a creator, go and leverage this tool, you get access to it. Leverage it, take advantage of it, but always make sure to extract that audience and those raving fans out into your own newsletter, into your own email accounts, so you can control that audience and have access to that audience, no matter what changes happen on these platforms.
Speaker 1:Which I think I probably between the Twitter thing in the Instagram. Twitter does give you the option to pull those emails If you ever want to pull them. Well, i don't think Instagram right now has that option. But my question to you, you know be a really cool feature that Instagram can add, if you can basically build a segment like how do I build? like give me the last 30 days, everybody who engages me, you can pull that into that broadcast channel Instead of you, like I think this person did, i think this person did, where you can just do that, that'd be, that'd be, that'd be game changer for sure.
Speaker 2:Yeah, well, if they take custom audiences, like you have on when you're running Facebook ads correct And Google ads when you if you could take custom audiences like that and say, hey, i want to show this broadcast to this custom audience, that would be pretty slick.
Speaker 1:That'd be cool. So, absolutely, man, we'll keep you guys updated on all these social media trends that are happening. this competition between all these social media platforms is going to keep getting better, and I bet TikTok's going to come out with something soon too. You don't know what's going to be falling behind, but those are some cool ways and to well keep people on the on these platforms but also help these influencers and consecrators have such a big impact in growing these platforms to keep them on there with their audience.
Speaker 2:Yeah, i mean, building audiences is the name of the game, right, that's where real money is made, and owning that data and owning that audience. And that's exactly why they're doing it, because they want to keep your audience inside of theirs Exactly.
Speaker 1:I mean, that's what we always talk about here, right, it's how do we get the audience and bring them in house? How do we handle those emails, those names, those contact information other than having a Facebook or Instagram do that for us.
Speaker 2:So let's get into part two. Behind the marketing, this is pretty, pretty interesting topic. When I was looking into it and seeing what he was doing, it's pretty cool And as you dive deeper to learn, kind of how he got where he at where, got where he is at today, it is unique. But I wanted to talk about Andrew Schultz, who a comedian who's done it his way He's done, he's changed how things are done and made some tweaks to how the industry was working, and it created a huge benefit for him, helped him grow, helped him scale when a lot of people wouldn't look at him. But and on top of that, not only being a comedian sensation currently right Yeah, but at the same time underrated entrepreneur with the things that he's doing, oh for sure.
Speaker 1:So I mean, he, didn't he? just I think he, then he sell out like back to back days in Canada.
Speaker 2:Yeah, scotiabank, so Scotiabank Arena.
Speaker 1:And he also has guys. if you haven't watched it, he has. so it was a really good podcast with Joe Rogan that he released. So that's cool. But yeah, i mean let's get into it. But before we do, we didn't mention this in the beginning. So if you look down on Nate's feet, we've gone and Nate into the shoe game I forgot to mention in the beginning and he's wearing a pair of dunks right now, which are really really nice dunks matching the shirt. But he has some new, newer kicks coming in here, probably in the next couple episodes. So just keep an eye on his, on his shoe game, because they're going to trust me, they're going to get better and better on some of the things that are coming in. So I thought I had to point that out, you know it's opened up a whole new world to me.
Speaker 2:So I've always liked, growing up as a kid I didn't get a whole lot of. I get like one pair of shoes a year, right, That was it. Hold on and I'll grow And and so with that one pair of shoes I never really got into it. And then when I got older and I started making my own money, I started buying shoes. But I always just liked a really nice clean white shoe Right, That was my thing. And you know now that I started looking at the shoe game and I see all these different color, color ways and all this stuff going on in the dunks like. This is my first pair of Nike dunks And I'm hooked, man, I got some cool ones coming. I'm excited.
Speaker 2:Oh, they're going to do He's got.
Speaker 1:he's got one pair, that's for sure. It's really nice And you guys will probably see it here. But yeah, let's get into it.
Speaker 1:I don't even know if I wear them. I'm just sitting here. Oh, you're going to do like Kaden, just only wear them around the house. But yeah, let's get into Andrew, because I did. I was looking at it So he started. He was killing it back in 2017 in New York and the comedy clubs down there. He was killing it And he tried to. He couldn't get into any network, like he couldn't get into any of these big comedy central and other those big networks would take him, and he paid a crew. I don't know if you know this, but he paid a crew like 25 K, i think, was it to record it And he sent it out and no one accepted it either. So it was. It's funny that you mean by the entrepreneur, because he started that struggle journey right where you have success locally in New York. You're trying to make a name for yourself, get bigger, but no one's giving you the chance or the opportunity And he had to do it. He, like you, said, he had to do it his own way.
Speaker 2:Yeah, it was interesting. And so he pitched his, his bit to the networks. They said no. So he paid the crew 25 grand. He spent 25 grand to create it, pitched it to the networks, again handed to him on a silver platter. They still said no. And unless they said no, unless he was willing to make changes to some stuff that he they didn't feel was appropriate, and he basically said not happening.
Speaker 2:So then he changed it. He didn't change what he was doing, he decided to go. I'm going to do this myself, exactly. And he's like I'm not going to silence what comedy? because you might be one or two people might be offended, Right, it's comedy. What are we doing these days after trying to cancel comedy? So it was a. So I'm sorry. I mad respect for him for saying that. You know like, no, i'm good, i'll do it. But what he did one thing that he did that was really cool was he took. He realized like all right, i'm going to go. He'd already been doing stuff on YouTube, a lot of views. He decided to go to social And when he went to social he took this hour long bit, right? So a lot of comedians were doing an hour long skit He cut his down into what you called monologues, so it'd be like a 17 minute monologue. you know, 17, 18 minute monologue, and then he was rolling those out And then they just exploded. Oh yeah, millions of views.
Speaker 1:Right.
Speaker 1:So, going back to it before we keep jumping. So you talked about his YouTube. So he said, when those networks didn't accept him, he already, like you said, he had some good followings on YouTube. He had some people who he had good traction. He's like why do I go one of these networks from my YouTube channel is a network Like I can let me create this, let me make this my network. And he did and he started pulling out, like you said, small bits, starting doing that. He had like, apparently he had like crazy one, like one minute, one sentence taglines on Instagram that were killing it for him. So he definitely changed. Well, i won't say he changed, because there's probably people who are doing it, this with him, but he definitely took the approach of I'm not going to let one because I'm not part of one of these big networks or I'm not being supported by these big crowds. I'm not going to let that stop me. I'm just. I just got to figure out a way to do it my own way And that's what he did.
Speaker 2:So what he did is he did 100 bits and 100. 100. He broke it down into 100 content pieces And he's like I now have 100 times to be seen verse one, right, as opposed to being just one episode on a network So pretty unique. He decided, instead of being discouraged correct, right, he had already started building an audience. He knew the value of building an audience. Instead of being discouraged, he's like you know what? screw you guys, you don't believe in me, i'm going to go do it myself.
Speaker 2:And sometimes, when we talked about it in a previous podcast, sometimes you just got to go create it yourself. And that's exactly what he did. And he exploded and watching him and just watching his last tour, when he announced it, just selling out, i think he even came online and was like Hey look, i'm going to come back to your city at some point. My tickets aren't worth the resell 400. I'm not that funny. So it's kind of you know, even if they have him come out just be real, like give some humor, you know, but yeah it did blow up.
Speaker 1:He sold the one, two in Canada And, yeah, like you said, his tour, his tour was going crazy. And one thing that Joe Rogan says in the podcast with him is like you're just not a comedian, you're, you are an entrepreneur. Like you're. You're not a person that goes up on stage, makes funny jokes, people laugh and they walk in the next day. Everything was like you're an entrepreneur, you, you created a business out of this And and that's what you did And that was.
Speaker 1:That was really cool to see that how, from one thing right, because I bet in the beginning, his whole thing was he never thought he was going to be a business owner. He never thought he was going to people are going to look at him as a successful entrepreneur. He always thought I'm a comedian. People are going to look at me as a comedian, but from that, that's what I would say wasn't a. I don't know if we call that a failure or not, but from not getting into those networks, but that, whatever we want to call that, that's his success he has today. So that's a fail forward. Yeah, i don't know what to call that, because that's the what's the cliche line. Fail forward, no, but it was. It's cool. So comedy, not comedy. Whatever you're doing, i mean it's just keep going. And he, he showed it, yeah, and he's using his talent right.
Speaker 2:Talent of comedy skills and turning it into revenue.
Speaker 1:And you said it. It's like passion into a business. And then you said it too. It's like he didn't change who he was to get into, like because I bet if he would have changed he could, he could have said you know what, yeah, let's make all those changes you want to make. I want to be on your show. Whatever it was comedy central, whatever it was I want to be on your show. So I'm going to make those changes. Maybe he made those changes and everything would drop off. So we'll be like that's not funny, or that's not you, or that's not what i, that's not what i want to see you do. But he said you know what, i'm gonna do my own, i'm gonna continue doing what i do and what i know i'm good at and i'm gonna move forward. And that's what he did.
Speaker 2:So i think he'd be definitely picked the right route and i think there's power behind knowing what you stand for and standing for it. I think people respect. They may not agree. There might be times where people don't in today's day and age, they don't agree maybe with what you're saying, but they respect if you stand on it, as opposed to powering to someone else telling you what you should or should not say and everything else right. So i think there's value in that.
Speaker 2:There's less than that, and another lesson inside of this i think is important that we might we haven't really touched on yet is the game is different. Online is different. It completely changes how you can build your business, like the networks. He wanted the networks and that's how you used to go grow that side of your business or become a comedian. It was like why need this? and he does like. He was like you know what? they don't want to give a shot. So you know what? i'm gonna go leverage all these free assets, that social media tools, and i'm gonna go leverage all of that stuff and i'm gonna build it myself right exactly so i think it's you can really go out.
Speaker 2:You don't need to have your own tv show, you don't need to have your own. Uh, you know, you don't have to have a big platform to start with. You got the access. You just got to have the desire to do it work and get it like do the work exactly, yeah, everybody's get stuck around.
Speaker 1:They're thinking they need these big networks to grow. Nowadays, you don't know that there's so much social media, so many tools shout out to him and great job let's get into uh part three here, uncommon advice.
Speaker 2:We want to talk a little bit about investing, verse saving.
Speaker 1:I know this is a topic you just got back from a heated discussion on oh yeah, we did get back from that, but i do have a story on this. The difference between investing in saving is the risk there is between both. Right, when you save, risk is not as high. Maybe you risk i should have taken that chance or not. When you invest, a risk is a lot higher because you might not see that back, it might be a failure or you might see a huge success out of it. So what i know from saving.
Speaker 1:So when i was young, the ps3 was coming out, i remember i had a small little piggy and my dad and my dad again my, my parents. We grew, we grew up really we grew up really well. But my dad was not a person like i can't here you go, you could have it. So my dad's like save the money. So every day i walk home, every day i walk home, i do this. So i remember the ps that it was one for three, ninety nine at that time and i was like fifty bucks short and um, i told my dad i'm begging that, come on, it's fifty dollars. That fifty dollars like also, what about the game? what game you're gonna play? that's another fifty bucks house. Like yeah, you're right, that's, that's another fifty bucks, uh, and then i kept saving until i got that money.
Speaker 1:Saving that, show me, is like you want something, you gotta work for it. So the only way i was saving money was i go into the laundry. My first looks even the coins dropped in there. I go see if my dad, if i did something on the house, my dad would give us always a little bit like a chore something. He was basically like ten, ten, five, twenty bucks, um, and that's how i started.
Speaker 1:But that taught me like how you need to save to get where you are, to hit your goals. But then, as i got older, unlike why saving have to wait time where. Take the risk. Invest in thing hits right. Something's take a little longer to hit, some things can hit a little quicker, but it hits. Why say what? what am i going to do now with i died tomorrow in this to the state two hundred thousand dollars in sitting in my bank account, saved, whoo, whoo. I did so much of that money. Or go invest it and keep have a continuous cash flow, where when i'm saving i don't have continuous cash flow. So that was, uh, that was one of my my stories that i i learned when i was young yeah, i think there's different ways to invest.
Speaker 2:It all comes down to your kind of your risk tolerance. I think savings good, but what you have a certain amount in the savings and kind of that rainy day cash fund. There's only so much you can have in there. Uh, you want to miss, you want your money. There's some i try and live by. It's like not work for the same dollar twice. I learned that the hard way because i have done in the past. We're like work, make money, spend it. Then you work again and make money, like constantly working for that same dollar twice. So over the years i've learned and figured out ways to invest so i'm not doing that right i think, if we can kind of strive to getting ourselves to where we're not working for that same dollar twice it's.
Speaker 2:It's that's the kind of sweet spot right now, how you invest and to be determined how risk adverse you are right. So, for example, i'm, i've got a couple things.
Speaker 2:I actually, you know, my earlier, my earlier years grandpa over here, uh, it were i would always, when i first started making money, every dollar i made i was, i was like in and out, in and out, no matter how much right it was like make it, spend it, make it, spend it one grand today, spend a grand tomorrow so it became one of those scenarios and then i started getting into investing and i started getting into real estate and doing real estate deals and creating some opportunity there, and then i started looking at, alright, well, where do i have where you can have a good are why an investment is in companies, are started investing in companies and sometimes i would invest in a come.
Speaker 2:I got to a point where a little too much rousing, investing a lot of my money back into companies, and that's getting bad. You gotta have both right, and so you still want to build some assets, companies and asset only based on the value that it's got. It may not be looking to sell it, so depends what it is, and so there's different ranges of higher than best for me. I've always have at. Things i've invested in over the years has been real estate companies, and then my more high risk stuff that i've done is i've invested in some crypto stuff, you know, and right now we're just waiting, sitting and waiting, waiting for the next bull run over on the upside cash, you know that's cool, that's cool, huh.
Speaker 1:But um, sitting, wait. But there's i. I also feel like it. There's different stages in your life where one becomes more important than other, right? so i feel like as you get older, you probably get more into the savings. Which man? i'm older, i got to start saving for retirement, all that stuff. But like, as someone my age, i don't really see saving much as i can. How do i, like you said, how do i invest, how do i make more money? because i always feel like, say, like example, for one k, i feel like the four one k is something that goes in there. It goes in there. You basically can't touch it till you retire or you get a penalty fee if you try to point anything earlier. So it's like a.
Speaker 1:What happens if? like that, that's what my thought, that goes across. What happens if I don't make it at 65? What was I made it to have 50? that all that money is a waste. Now, like so I've always thought about investing, make more money. I was like because if I can have a consistent clash where I can see consistent cash flow coming in, then maybe I'm like Okay, now I can throw a couple dollars into into just a savings account for a rainy day I can throw. But at this moment I'm in the moment of like how do I just duplicate? like how do I go from? if I invest 20k, how do I make 50k off of it? now, if I invest 20k, i'm gonna see that 20k again in like 45 years.
Speaker 2:Yeah, and ideally it's obviously compounding. Right so it's it's investing is investing Can help you grow your savings right so?
Speaker 2:to me, investing in savings are two different things, but they could also be one in the same. So if you're investing in a real estate property, you're investing in a different way, right? you're getting the appreciation, the depreciation, plus you're getting the asset. Long term, you could be getting cash flow from the rental if it's a rental, right? so this that is still kind of savings, because it's not Cash in a savings account, what it is an asset that you put into your portfolio. So I think it just depends on how you're doing it. Well, yeah, absolutely. I mean, there's different ways to do it and I do think that in the investing mindset is way better than the Storing for a rainy day mindset right gotcha.
Speaker 1:So what would you say? it's young entrepreneur right now who is Maybe, let's say, it's in the pickle, right, do I, do I save just in case, or do I invest my money and take this risk? Like what would you say to a young entrepreneur, you know, and you investing in probably multiples of business and and real estate? What would you say to someone.
Speaker 2:Man, i would definitely not go to Vegas and put it all on black. We're red, so So, yeah, i mean. I think that one is you should have your rainy day fund right, you need your. You need your X amount of Months, where that be six months, 12 months, sitting in the savings. That is, it doesn't have to be a savings. We could be in a money market somewhere that's accessible.
Speaker 2:Right and that you have access to, but it's, it's liquid, so something happens, you've got it and then once you have that, then you can start compounding, you can start investing in other stuff. You know, depends what your risk tolerance is. Maybe I'm not really into the stock market. It's never really been my thing, which is kind of funny because my first job, my I'm sorry, my second job out of college, like I guess my first corporate job offer, my first one was scuba diving instructor And then a corporate job offer I got was as a financial planner for America is American Express at the time, and I didn't end up Going through with it, but it was, you know, all of that, the stocks and investing portfolio, all that stuff And I just never really got into it.
Speaker 2:So I liked real estate. I was into it, got into real estate young. So I think if you're a young entrepreneur, i would look at opportunities to do that. Even if you're an entrepreneur, if you're young and you're building the business, you're, you've got cash flow, you've got your you're kind of rainy day fund set aside, go look at buying a piece of real estate. Maybe it's when you live in and you live in it for a couple years, do some fix up on it And then you turn it into a run all after that, you know. So I would look at something simple like that as opposed to Maybe you are in the stock market and you want to go invest in some of the index funds and ride the market. So it depends okay, depends what you're into, but I would definitely get into something That's gonna allow you to compound your money.
Speaker 1:Gotcha All right, nate. So my big question for you is what's the biggest, big, biggest risk you take in on investment, and Did it bite you in the butt or did you come out on top?
Speaker 2:Oh man, I've had both. What's the worst?
Speaker 1:one one to this day that you like, it just cringes you.
Speaker 2:NFTs Really. So I invested in this like small NFT thing and it was like it was doing well in the beginning. It was like kind of small NFT fund and then it just tanked So but it wasn't a ton of money, but it was just like all right, it was out of my realm, it's not not what I was into, but I put some money into it. I don't know where it's at now.
Speaker 1:Did you get into it yourself or did someone?
Speaker 2:I got a new was someone I knew that was doing okay, here's like, hey, i'm having success with this and and it just so happened, that's what happened in the market. You know he was good at it, but the market shift and anyone that was in it, you know, lost. You lost. So, just like, crypto is way down right now too. So I think I do have a high risk. Investment I made was into a Crypto platform. I invested in this coin, hex and then rolled some of that those profits over and up this pulse chain network right into pulse, which just launched, and It was awesome because when it launched, i was up, you know, 300%. I'm like this is great. And then now, if now I'm down, way down. But to me that was a lot of people get in through the emotional side of that and freak out for me I was like, alright, this is the money I'm gonna put in. I'm gonna look at it in three, four years.
Speaker 1:Yeah, right now I'm not to I don't some people follow them?
Speaker 2:I tried doing the following the market and all that stuff. It's just not me like. I'm better off spending my time Learning how to be. You know the things that are gonna improve the company that I'm in. You know the company?
Speaker 1:that I'm running, not sitting there watching a line.
Speaker 2:Yeah, it's not.
Speaker 1:my dad's a full-time business It could be a full-time business for people. I mean, yeah, people definitely do it as a full-time job. So what about you? for what? What are my investments? Um, the only thing I really have invested right now that I would say was in the house about That's been, and I mean that profit, profitability is Upright out huge and I hope it stays up with this whole thing that's happening in the markets. Prices are dropping, but right now I'm I'm I'm a big time, so hopefully it stays like that, but that's really been the only investment that I I've ever done. If you call gambling an investment, then that one too. But uh, yeah, i don't. I don't have really much investments. I mean, there's things I've looked at, but I never got into the stock. Like you said, it's not something that I'm like.
Speaker 2:That on up. But you're kind of at that point now where, like you've, you've stacked some cash and you're starting to look.
Speaker 1:Yeah, absolutely Yeah, yeah, well, we've had conversations on it But yeah, but like the stock market for me is, i don't, i don't know it. Well, i'm gonna be honest, like my dad's not into it, so never was taught in that way. I never really cared much to it. Same thing with crypto and I think the only Stock I've ever bought in the whole thing with crypto and everything was when dogecoin was like going crazy.
Speaker 2:I was like it's gonna hit a dollar, let's go ahead a dollar and I bought it.
Speaker 1:I bought it. I think it was like at like point oh five and I Think he sunk more and I lost, but but like I think it was like 400 bucks on it and nothing really happened. But yeah, that I haven't.
Speaker 2:Oh, you wanted to buy, pay 400 by 400 and doge and that was gonna explode and you're gonna have 100,000 absolutely.
Speaker 1:Oh yeah, that's that was my mentality. It was exploding. everybody's like Elon Musk's. Elon Musk is going on Saturday night live. This is going crazy. And I did and, uh, no, i did, it did nothing. So so, yeah, that's really the only investment ever met on that and other investments on the house, we, the house that we bought and, um, me and Elizabeth have been my fiance I've been talking about possibly buying either a Condo we've we like Hilton head, buying something out there or just buying another property, so that's definitely.
Speaker 2:Even if you do Hilton head at some, you know you can rent exactly. So funny story about piece of real estate I had. So we bought a house in 2016 and Then a month, a year and a half later, we moved to San Diego and we put it on the market to sell at a, put it on the market for more and we bought it at a good price, so we're still able to sell it, make a little bit of money. Never sold, and we rented it and then About, and then two years. There is two years that we had a renter in there for two years and then we put it back on the market About the same price a little bit more never sells. We got a super low ball offer that we said no to.
Speaker 2:And then the guy that was supposed to move into it I had her and so I ended up putting a runner back in there and the runner rents it and he goes hey, man, i want to buy this house, i'll pay you X for it. I'm like that works for me. Good deal. We had a verbal agreement, house sold, house under contract and It ended up to where he I'd call him up. I was like everybody can finalize this contract get going Hey when I am I and he goes hey. By the way, i got to move out. So he went from signing a two-year lease To agreeing to buy it, to moving out, all within like three months. Man.
Speaker 2:And so yeah so Susan and I moved back. We decided to move back from California in 2020. We moved back in the house and I'm so happy that none of those deals went through, because we ended up doubling the price and selling it. So all with the craziness that happened in the last couple years.
Speaker 1:That's a good investment right there It was a good investment.
Speaker 2:But once again, some investments, you have no damn idea exactly What's gonna happen. Who would have thought the market would have done that? So like I had a verbal agreement at one price and then I ended up selling it for double because the guy backed out. So Some deals just work, some don't exactly, we'll take it some people like to believe it's like Super strategic. in there They win all the time, but it's not the case.
Speaker 1:It's just, it's time, it's all time. Time and luck, that's a, that's what gets you there. But I mean, i think that's a wrap and it's a wrap.
Speaker 2:So hey, real quick, like comment and share. Do us a favor. If you gain some value from this, you know, pass it along. That is the gentleman's agreement here. We we don't do any advertising on this. Maybe one day we will, but now we don't. So in the meantime, like comment or share absolutely guys.