0:00 when businesses get much larger, cash gets significantly lumpier. >> We built a large amount of our reputations off of a, you know, $46.2 million sale. >> In this video, Layla and I are going to share our secret weapon. One of the hardest parts of entrepreneurship once you start to make some money is figuring out what to do with it because you spend all this time trying to make it and then you're like, what do I do with all this? >> This is about the game beyond the game. You know, it's not just what you make, it's what you can keep. We tried a million different things and mostly his idea. And we mostly lost millions of dollars. So we want to help you guys do the same and avoid losing millions of dollars like we did. >> It helped us completely change our thinking process to the game beyond the game, right? And so just to give a tiny bit of proof on this, we recorded over $400 million in real estate. He actually was a an advisor of ours
0:46 helping us exit our first company for $46.2 million with Gym Launch. Since then we started ACQ Ventures, which has done over 60 private deals. He helped us reduce our taxable income by 80% and it added multiple layers of asset protection. >> And the crazy part is he did that after having four exits of his own. $50 million exit in his 20s, then he took five years off, played some tennis, went to business school, then worked at Goldman Sachs, then invested in Telis. Many of you may have heard of it and then sold it for >> $1 trillion. $1 trillion. >> An undisclosed amount of money five years later. Started his own family office where he did a bajillion deals. He exited a rollup for 198 million. And then he came out of retirement after six years which is >> six-year retirement. >> Yeah, yeah. His second retirement. Became the CEO of Real
1:31 and grew it from 200 million in enterprise value to a billion in just 30 months. And eventually him joining us here at acquisition.com so that he can do his next billion dollar company. What does that mean for everyone watching? It means that when Sharan talks about money and wealth stuff, you should listen to him. >> One of the first things that Sharan did when we met, he said, well, what are your money algorithms? And I was like, what do you mean by that? And he was like, what are the pre-made decisions you have around how you deal with money? Because there's so many decisions that have to happen when you have money and especially when you're active, like you're working in the business, it's you can't then allocate all this attention over here. I know if we had an unlimited amount of time, he would share, you know, probably the 40 plus different frameworks that he shared with us that have that we've directly applied to our uh you know family office and wealth. We just talk about the big three, the biggest ones that kind of change our behavior the most that I thought would be the most valuable for you. >> So I've had a number of wealth
2:17 frameworks that I've had to develop over the last five exits and I've learned this the hard way, may it be through losing money through lawsuits to the very large tax bills that every entrepreneur struggles with. And mainly it was understanding what debt and leverage is, but the three important frameworks that I think every single entrepreneur should know uh are grounded around this first big idea, which is understanding this active passive continuum. And Alex, I remember our first conversation. This was a Zoom call that we had. You had a whiteboard in the background and I said, if we could learn anything else today I can if I could just transfer one piece of learning that I had to you, it was this active versus passive idea. And you actually equated it to, hey that looks like a barbell. Entrepreneurs tend to say if I'm working
3:02 actively in my business, then everything else that I do in my life should be active as well. And we just know that is absolutely impossible to do. >> What I realized at least is that you think that the same skills that apply to business are going to apply to investing and multiplying your money and it's actually typically the inverse skills that apply. So it's like many of the skills that help you make the money actually help you lose the money if you apply them on the other side. >> Because you have so much risk in the main business and so I mean the big mistake that I made was early on seeking, call it entrepreneur-like returns from the money I'd made from entrepreneurship. And so I'm like, okay, well I get 20 to 1 LTV to CAC, so if we don't get 20 X on this money, then what are we doing? Um and to be clear, if you have just a little bit of extra money and you have a business, you should always put the extra money in. But at
3:47 some point there's some businesses that are just very cash flow positive. You can't justify just spending money for no reason. And so you just get this excess cash and you're like, what do I do with it? And this is where Sharan basically in some ways gave me permission or like made me not feel bad about the fact that he's like, hey, if we get 15% a year, we're good. And if we get 20, amazing. But for me, I was like, if I'm not getting 100% then something's wrong. And I was investing that way, and it was I was my 100% dreams were becoming 0% returns. >> And I actually remember um there was a time where we were looking at, oh, should we just really actively invest our money? And so I read all these real estate books, right? We just met you. I I read five or so books on real estate, and then we went to visit somebody who was saying they were getting, you know, these crazy returns on their real estate. And it's all passive. And I
4:32 remember I walked in and they had a building where they ran their business. And then they said, and here over here is where we our family office. And there were 45 people managing the money. And I said, oh, so there's no no such thing as passive income. [laughter] Like there's no such thing as passive income. You run a team here. You have the same issues you have on this team. It's all equal. >> And I think the biggest learning that I had was if it's passive for you, it has to be active for someone else. And I think that is the big distinction that most people don't see. And uh active managers are good. They treat that active business like their active business. And so uh having that distinction, just having the barbell where one side of your risk is based on your active business and the other side is passive for you, which reduces your risk but is actually the active
5:19 risk for the other person. So that once you get the barbell right, it makes you think about the continuum of risk in a very special way. >> One thing that like somebody watching, at least what I thought when I was younger, yeah, but why can't I do both? And um I think what I realized in time was um you know, you're putting all of this effort into your business, getting these crazy returns. You can if you put that same effort, you take, you know, say you take 30% of your time to generate that income into managing your passive income or your, you know, the income that you've just made with your business, you actually would have would just make more money if you invested 100% of your attention into your active business and let somebody else who has the skills and doesn't have to learn all the lessons do this. So that was like a big piece for me because I'm such a control freak. Um and that really helped me because I was like,
6:05 wow, this is very stressful trying to learn how to do both things at once. >> And I think Shaan encouraged us to He's like, listen, there's only so much risk you want to take. Obviously that's individual. But he's like, but you're like risk maxing the way, you know, on the entrepreneurship side. But what was interesting, and he made this really compelling argument to me where he said, hey, if you take this extra money and we don't take crazy risk with it, we actually think how do we build a nest egg or a fortress, you know, maybe in more Shaan terms, like how do we build the castle and then dig the moat around it so that we don't We don't want to risk the empire for a pot of gold. That was one of Shaan's first isms to me. But having that called fortress or nest egg actually has allowed me to take bigger bets on the entrepreneur side. And so in some ways taking less risk here has given me the the freedom to take more risk here and then get even better returns. So having like and I I think
6:50 the big point here is that it took us a it took us in some argument too long to have a a strategy for what we're going to do with all the money that came out of the game. I think the second thing that you kind of opened my eyes to was the way that I think about customers is the same way we should be thinking about deals. And so it's like, dude, you're you're going on, you know, two dates and you're asking both people to marry you. It's like no wonder your deals suck. And and I thought I was like, oh, you know, real estate's bad or or hard money lending's bad or whatever, you know, whatever the thing of the day was. And you're like, no, no, no, that guy's bad at real estate and that guy's bad at hard money lending just like there are bad entrepreneurs. It has nothing to do with the vehicle or entrepreneurship somehow, but it's like that guy's just not that good at it. And it was just a great transference for me because it was it was speaking my language. And you
7:36 were like, no, no, no, we need to look at a thousand deals and then pick the one. Just like you might convert 2% or 5% of leads, it's the same concept on the deal side. >> It's the same exact thing as running a business because volume does negate luck. And just like you have a customer funnel, you have a deal funnel. And the sad part is that the average investor, which is the retail investor, which is the masses of the world, get access to the mass market deals. They get access to the 7 to 10% returns and that's what they believe is the market. That's what they believe the S&P 500 returns. That's all they have access to. But as soon as you're an accredited investor, you now unlock this whole new set of deal flow that you can get. And private deals over time outperform public market deals by over 50 to 100%.
8:23 And Alex always tells me that if you could make a million dollars in your business with a $5 million top line, if you had to get twice the amount of returns, now you have to have a $10 million business. >> Like think about like net worth throughput. It's like we do all these activities on the front end, and it ultimately translates to some amount of net worth. And so it's like if you're inefficient here and you're compounding, you literally have to build a twice as big business so that 20 years from now. So it's like let's say you invest $500,000 a year as your, you know, from from what you save. It's like if you just have a couple of frameworks that are not act it's decision frameworks that you can make one time, so it's not active. This is basically allowed me translating what you kind of relate to me. Um we make these decisions one time about how we manage money, and then we never need to make them again.
9:08 And then just by choosing some of these, okay, we're going to have private deals more than public deals. The trade we're going to make is we're going to be a little bit less liquid, but we're going to get higher returns. Do we need the liquidity? No. Okay, great. If you need the liquidity, don't do the deal at all. Rather than having this like, okay, well, I'm going to do it, but I'm going to I'm going to be able to pull it out against like, dude, if you if you're thinking that way, you're already lost, right? And so having that idea of like, okay, you have some end goal of your net worth, you could maybe get there at 1/3 the size if you just played this game a little smarter and made better decisions. >> And the crazy part is this is what you call a illiquidity premium, to hold your money in in a in a investment for a longer period of time. Therefore, you unlock bigger returns. But what the average retail market investor, the mass market investor does not realize is that
9:54 they're illiquid anyway. Therefore, 1Ks are illiquid anyway. Their IRAs are illiquid anyway. Their defined benefit plans are illiquid anyway. Not only illiquid for three to five years that we are willing to take that risk for, they're illiquid for 35 years. And that is the difference between the rich and rest. Because there's, they don't realize the private market deals are so significantly superior from a risk-adjusted perspective. And the problem is only business owners can get access to these private market deals because they have the credit and net worth to be able to get access to them. >> I think it's just a matter of like, you know, until we met you and I think I look at all the money we made prior to that and how inefficient we were with it. I mean, there was a point where I remember the first time that our banker called me, um this was, you know, 11 years ago, 12
10:40 years ago and he said, you have $9 million sitting in your checking account. Like this is not, this is a liability. And I said, I don't know what to do with it. Like just keep it there. You know, and I think a lot of people do that because out of fear they don't know what to do with their money. And I remember how incredibly debilitating that was because it felt like this huge weight on my shoulders. Like I don't know what to do and I think so many people feel that way. They start finally making the money. They're finally not feeling like they're, you know, it's not like, oh, am I actually going to make it? It's like now I'm actually making money, but then it's like, holy I don't know what to do with it. So I'm just going to like keep it in the bank and and pray that it doesn't go away and like it stays okay. >> Or and then you do the first thing which is some when you start like it starts to kind of like uh burn a hole in your pocket, right? Where you're like all of a sudden somebody's like, hey man, I've got this deal and you're like, okay. And then you just start writing these checks. >> checks to everybody. >> And you think like how hard you had to
11:26 like you're like how much revenue, how much profit, how much after tax I had to get to get this one check. So you're like, okay, I'm running 20% margins in my business and if you run let's say a million dollars and you take 200,000 and it's $100,000, you're writing this $100,000 check, but it's like I have to go make a million dollars of revenue to get this $100,000 check which it took me two seconds to write and I it took me way longer than that to make. And but like the thing is is like I didn't I didn't know any better. >> One of the things that we've talked a lot about is this idea that every dollar that you do something with it should have multiple uses, compound use of a dollar. And so often we think, hey, I have a friend who has a startup. I'm going to invest in my friend's startup. Okay, good. That is one use of that dollar. What is the other use elsewhere in our investment world? So for us
12:12 we say we're going to go buy $100 million worth of real state, but there's a very clear secondary use for that, which it produces taxes. And so, having multiple uses forces you to figure out how far that dollar can stretch, and you're not just succumb to the peer pressure of saying, man, it's burning a hole in my pocket. Let me go invest that dollar. >> Can you share the the four framework that you had in terms of like how to analyze investments? Because like I had this like Tron was the first person I heard this from, and I it I mean it changed how I how I saw investing in general. >> Um most people don't have an idea on how to analyze an investment when it's given to them, and they do it mainly because of either peer pressure or if it's burning a hole in their pocket. And here's a quick heuristic for how you actually analyze investment. It's called the investment x-ray. And there's four categories in which you analyze investment. The first is capital
12:58 preservation, which is is it going to make money or lose money? Second is tax efficiency. Am I going to get some kind of tax advantage related to this? The third is yield or cash flow. While I'm invested in this, does it provide some kind of cash flow? And the fourth is growth. Does this money grow over time? The I generally like to have a 25-point score for each because then it totals to 100. So if you take something very easy like Apple stock, well does it have capital preservation? Well, maybe 20 out of 25. It's not lost money in a while. Tax efficiency, zero. Yield, it has a 0.04% dividend yield, so like not much. Growth, it's done amazing. So essentially the 50 out of 100 score is what you know Apple Apple stock gives you. But if you take Bitcoin, capital preservation, you're not sure.
13:43 Tax efficiency, nothing. Yield, nothing. Growth, 25. So you're able to quickly have a heuristic on what that investment idea is. If you take a real estate investment, you can just run through it very quickly in your head, which is capital preservation, decent. Tax efficiency, decent. Yield, decent. It gives you cash flow. Growth, decent. You don't you don't like Alex says, you don't min max in every category. You don't maximize everything, but it it touches every bucket. So you feel like wow, I feel significantly better doing this because it has a compound use of that capital in some way. The reason I like having some kind of framework is when someone is pitching you an investment, it gives you a very simple heuristic on what questions to ask. So if someone's saying, hey, I want you to invest in my, you know, meme coin startup, you say, oh, um I'd love to know about how you preserve capital around this or does it have any tax
14:29 efficiency or can I expect any cash flow during this process or if it hits all your growth assumptions, what do the growth assumptions look like? I think most investors don't have the ability to ask the right questions. >> I remember after you showed us that framework and then it was like anytime we were on a call, I just pulled it up and I would just write in each quadrant for the investment and it was like, wow, this is It like 0 0 0 maybe one. >> We we've learned a lot um and because, you know, you had to build your family office very early, you know, must be tough. Um but one of the other ones that I that I I I think massive mistakes that I made was uh bet sizing. Um I like my bet sizing was like, how much money do I have? Okay, maybe a quarter of that. [laughter] And that was just like when I deal with shop, I'd be like, quarter of this, cool, and I'd throw it in. Um and I think you changed the way I thought
15:14 about that pretty meaningfully. >> I think sizing is the number one mistake that most people make because they've never been taught how to do it, you know. It's always it's not your not your fault, but it is your problem. And you say, well, I have $100,000, how do I size something like this? Well, uh Alex Lelan and I can give you how we size it, but it's not the right sizing for you because we're now saying, hey, we're going to make X amount of profit in our business that is taxable. We don't mind sizing a bigger chunk for real estate because it it provides this capital growth, but it also provides this tax efficiency. And when you're talking to a financial advisor, I think sizing is the number one question to ask. Also, there's a bunch of FOMO when it comes to sizing. People just think, well, I'm just going to get the entire universe of stocks or the entire universe of crypto or entire universe of all of that. Now you just
16:00 have so much complexity that you think you have diversification, but it's actually an antidote for ignorance. You have no idea what to do, so you just invest in everything. >> You know, I think um as I'm sitting here and thinking like the third thing that you taught us that I think was the most antithetical to what we were doing, you were like, you have to minimize personal income. And I was like, >> was very upset by that. >> the does that mean? What do you mean, and I think that's actually the one that I think is the least intuitive for entrepreneurs and and business owners because it's like what do you mean minimizing my personal income? So I'd love if you could kind of share some of the insights that you'd shared with us. >> It's not what you make, it's what you keep. And the main reason for that is that you are in a partnership with the US government or
16:45 any government that will depending on where you live. And that partnership agreement is not actually something that most entrepreneurs have read. They have no idea that they have a partner that is the tax collecting authority. If as business partners, we know our agreements, but we do not know the tax agreement. The reason is that the tax code is an incentive machine, not a penalization machine. And as soon as you look at why they want you to do something, it's because from a centralized portion, the government can't invest in all the projects it wants to invest in for the benefit of the country. So it gives incentives from a tax basis to all the private citizen entrepreneurs like us to go do the investing for them. They want you to develop these underdeveloped opportunity zones. They say, well, we'll give you a
17:31 10-year tax horizon if you put your money into an opportunity zone and you keep it for 10 years, you have to pay no taxes going forward. Which is insane. By the way, the the greatest trick that you can have in real estate is you buy a property, it goes up in value, you 1031 and which means you don't have to pay any taxes. You take the 1031 into an opportunity zone and then after 10 years, you completely wipe out all your taxes. So in a 15-year period, you could pay zero taxes from how you actually started completely legally. The reason most people are afraid about taxes is that they don't remember these three rules, which is know the law, follow the rules, and document the truth. And if you just know the law, most people are unwilling to actually read that partnership agreement that they have with the with the US government. And if you know that you can take 14
18:17 days and rent your home back to your business, That is the Augusta rule. You actually know that you can do that, but most people don't know how to do that, or they think, well, it's 14 days, so I'll do 13 to stay under the law. No, the law says 14 days. You can do 14 days, but you have to know the law, you have to follow the rules, and you have to document the truth. And uh for every dollar that you save in taxes, you're dropping that dollar immediately to the bottom line. It doesn't have to go through your, you know, like your gross profit and your net profit. It doesn't have to go through that whole machine all over again. So whatever, if you can figure out how you keep more of what you make, you dramatically change the the inputs that you have to actually grow your wealth. >> Yeah, and two things on that. Well, one was like the the translation for me that helped was thinking about it from a return perspective, which is like I was, you
19:03 know, really excited about a 20% return or whatever it was going to be, but it's like, hey, if you can just learn how to defer your taxes correctly, you get a 58% return year one. So instead of, you know, let's say you make 100, you know, $1,000 or I guess appropriate a million dollars, right? Um you would have $630,000 if you live in a tax-free state in the US. But if you don't have to pay taxes, you get $370,000 extra. And so if I had an investment where I put $630,000 in and then I got 370 back immediately year one, I'd be like, I love this investment. And so taking that extra time, I think um was really good. The second one, and I think this is partly what Laila was alluding to, is like this is transitioning a little bit more into the business side, but how you think about your accounting in terms of
19:48 how you recognize revenue versus expenses, um the way that Tron kind of transformed our financials and how we documented things um was, I mean, I would say arguably a bigger change to our taxable income than even the real estate stuff. Um and so for entrepreneurs like the most expensive hire you have is a mediocre financial executive. Um I mean, bar none, because one, they'll make mistakes and they'll cost you. And Laila and I have had, you know, eight-figure tax bills two times that were extra, that were on top of our normal tax bill. Um because of >> $12 million one year? >> And we had an extra 17 another year. Um and >> With no notice. >> With zero notice, so we just had to immediately pull it. Um and so that that obviously sucks and that's not not not a flex. I'm saying like they can really mess things up
20:34 and it can suck a lot. But on the flip side, when it's done correctly, um like we paid less taxable income in the last two years than we did in our first years of Jim Launch, >> Yeah. >> which is like crazy to consider. And it's because of the stuff that you did. >> All 14,500 companies run on accrual-based accounting. They do that for a very specific reason so that they can find a way to dislocate what is revenue and what is expenses. And once you can defer revenue to the future but take expenses today, then you reduce your taxable income today and you push all the revenue into the future, which is completely legal and all the Fortune 500 companies do that. And after running a public company, I realized how beneficial this was and I was like, wow, if we can just bring that into what we are doing day-to-day cuz we have similar revenue profile, we should
21:21 be able to do exactly the same thing. And as an entrepreneur grows in the amount of revenue that they make, talking to your CFO or your accountant makes perfect sense because you're at least trying to figure out are these readjustments and reclassifications of when I can consider something revenue and when I can consider something expenses? Can I do it now or can I do it later? And what's the road map of that is super important. You may not be ready for it now, but you know that in the future that it has great value because you get to take the tax deferral today. >> So this is really important because like if you if you're growing at even call it a little bit more aggressively cuz if you're growing quickly, the tax becomes a gigantic drag on how you can grow, right? But like think about it like this, if I because let's say I'm I'm
22:07 twice as big next year as I am this year, that means my expenses are twice as big. But remember I took my revenue next year, but it's the revenue that I'm recognizing off my one half size. And so my expenses doubled year two, but my revenue is from last year that's being recognized. And so the cash bit I have cash, more cash than I, you know, could use because I have all the taxes as I would have, you know, that I that I don't have to have paid that year available to me. And so on the micro one is you get an extra 12 months of um being able to get a return on that money, which I mean for those of you who are in a business where you get paid on let's say net 30 or net net 90 or net 180, getting net 24 months [laughter] uh is a is a huge uh benefit. But the other thing is that you can, especially
22:54 if you are growing rapidly, in some ways almost like indefinitely defer taxes because your your expense basis is doubling, but you're always on a year before in terms of revenue. And that makes the entire like the process of growth significantly more capital efficient. And that like I'm just like if you can take anything from what I'm saying right now like or what we're saying right now like pay attention to this one cuz just like it it it transformed the the economic engine of ACQ and this was what allowed us to take way more outsized bets than we otherwise would have been >> I think even if we look back to what we did with Jim Launch you know prior pre pre date Chiron um you know when we were growing really fast, you know, you're growing really fast and then the next year you have to pay the quarterly tax payment and you're based off last year when you had you know half the
23:40 infrastructure and now you have to pay with the cash that is much more meaningful now because you have twice as many people but you're you know of increase in what I don't know you know 40% revenue, but it's still not enough of the delta to offset the tax. So then it's like you're pouring all this money into taxes because you're just not doing your accounting correctly. So that was really painful for me to have to make those payments and I didn't understand that I wasn't having I didn't have the right advisors, I didn't have the right people explaining it to me and I didn't understand the system well enough. I just knew I was like this can't be right because if I were if I owned a plumbing company, if I had a business that was doing 10 or 20% margins, I was like I'd be out of business. >> Correct. When you buy yourself time in tax planning, it gives you more opportunities to plan. And the reason why most entrepreneurs struggle is they call their CPAs
24:26 uh in the during Christmas time and say, hey, I've got this huge tax bill. What do I do? And then the CPA says, prepay a bunch of expenses. So you prepay for your mastermind, or you prepay your vendor, you prepay, and now all your cash is gone and you can't even bonus anybody. You can't bonus yourself because you just wrote a check for a 30 to 40% of your net cash flow out just to let the tax tail wag your cash flow dog. And for us right now, we don't have to worry about what happens on your end anymore because that's dramatically removed the operating stress stress of you need to do something by December 31. >> I also think like when it comes to, you know, the CPAs that we're looking I mean the amount of times we invest in a business and we look at the CPA, we look at the, you know, the advisors that they have from a, you know, wealth standpoint, they're subpar. It's like I
25:11 say it's like a strip mall CPA. Um and so I think for anybody watching like you have to be really really careful who you trust with these things and you should probably listen to people like Sharan or somebody else who actually understands these things have done them before um because I actually think of it like this, which is you want to as an entrepreneur know enough to be able to tell if you have the right advisors on your team and to tell them what you want to have done. So if you're listening to them and you're a business that's doing, you know, say below a couple million dollars a year and you're letting them advise you, it should be the other way around. Like you need to be getting the information and then telling them like here this is what I want to make have happen and if they're not able to do it, then you know you need a different advisor. >> The biggest learning that I had when I was a banker at Goldman and I saw the wealthiest families, the
25:57 billionaires invest is that they separated the function of a tax preparer from a tax strategist. And that was the big aha for me because the tax preparer prepares your tax returns, but the tax strategist's job is to sit back and think how can I reduce this family's tax bill? And >> I I remember when you told me this and I was like, oh, I've had a tax preparer giving me strategy, which is why the strategy is terrible. >> And and I and I and I would listen to some stuff and I've even said stuff in much much much earlier concept where I was like, you should just try and pay as much as you can in taxes because that means that you're making money. Um and I and I and I and I did for many years take the position of like um just just make more money. Like that was basically it. Just make more money. I will say that that to some degree works early >> Yes. >> um because the amounts are smaller. But
26:45 the thing is is that when businesses get much larger cash gets significantly lumpier, right? And seasonality when it's a you know 10% swing on a million dollar business, $100,000 is not as much of a you know a a big of a deal. When it's $10 million or $20 million or $200 million you know the bigger the business the the more that headwind or tailwind it really starts to whip things around. But I would say that I've I've you know changed my perspective obviously seeing how much bigger acquisition.com has been able to get because we've had so much more cash flow to reinvest because we just weren't writing you know just gigantic checks to the government. >> And I look back to all of the money that we accumulated and you know we we built a large amount of our reputations off of a you know $46.2 million sale and the money we made prior to that which was almost equivalent to that sale
27:31 and it we could have had triple >> Yeah. >> quadruple that if we had applied these things which is painful to think about because like that was seven years of my life. If I could have made double the amount of money to set my family up indefinitely it would have been worth it if I had just known these things which is why we wanted to obviously make this video. >> And I think a lot of people think that you need to have these esoteric strategies to win and I think what Alex and Leia and I are sharing with you is that most of these are very bread and butter. If you just think about the world a little differently, if you just read key parts of the tax code, if you have the right strategies in place, you're probably five simple strategies away that you can put in place one time that will dramatically change the financial bloodline of your family. And you don't have to go and figure out how to you
28:16 know invest in an oil and natural gas investment and get a part of the GP and then get some depreciation for risk. You don't have to do any of those things because at some point the risk that you take is significantly more than the benefit that you're going to get. So following the tax code just kind of straight down the fairway is a very simple way to do it. We were just never taught how to do it. >> And so with that being said, I know some of these things like if uh you know, if I'm on the other side of this, I'd be this is interesting. I don't know it like where do I go from here? Like I I would love to, you know, defer, not avoid uh taxes. And so you want to tell everybody what uh what what you cooked up? >> Yeah, we are we're excited to finally reveal the entire ACQ playbook for specifically for entrepreneurs and we're launching our
29:02 first wealth workshop series. So please, if you are an accredited investor, this is a perfect fit for you because this gives you access to what you can do both from a private deal flow perspective and what you can do from a tax perspective. And this is about uh not just about how you increase your income, but how you restructure your business, how you manage your taxes, and how you set up your investing in such a way that it creates amazing wealth for you and your family. >> The reason that we also are putting like an accredited uh tier on this is just because a lot of the stuff that Tron's going to be walking through are not things that apply to you when you're earlier on in your journey. So like if you're not at $250,000 a year in net income and and or a million dollars in net worth at excluding your house, a lot of it just frankly it's just not going to apply to you and it's not going to be interesting. Um but on the flip side,
29:48 the further you are away from that line, the more these tiny tweaks add up with big percentage points. And you know, 5% on you know, $100,000, you know, nice. But you know, 5% on 50 million or 100 million, like that is significantly more worth it. And so for if you're that type of person, that's uh that's who it's for. It's really just like what I wish we had had and it's going to be the 80/20 of like listen, there's 100 things you can do. If you just restructure your finances this way, if you restructure assets in a protection manner this way, and then you change the way that you're pricing and putting your money on the back end, if you just do these three things, um you'll get the 80/20 of what you need. >> We're going to go through the entire family office playbook that Alex Lale and I put together on how to set everything up, how to source deals, how to price and negotiate the deals, how to value add existing deals, and all the
30:34 tax efficiency components with all of this. And we're going to do this in a very simple small group format that you can ask your questions and get the answers because everyone's situation is very different. So if you're interested in this, go to the link below, grab a free wealth blueprint. It'll tell you where you are in the process and on the thank you page, it'll give you a time to book uh a call and see if you are a good fit to come out and spend time with us in the wealth workshop. >> We're hosting the first one in January. We might open up a second one in February um but this is also open to our current Vantage members. So they will get first priority. So I would say if it's something that you're interested in, click the link, book a time as soon as possible and chat with our team and see if it's a fit. >> Part of the reason we're doing it in January too is that lesson this year is already done. There's nothing you're going to do about that, but if you do it in January, you can set up the whole 2027 um and you'll have time to do it
31:20 and do it right and you'll be thanking yourself next year.
