On today's episode of Gathering the Kings. I stumbled upon real estate because of anger. I was laid off. I couldn't get a blockbuster car back in the day. If it was, you know, if this is buckled the video, that's how bad my credit was. Hey. This is what successful people do. This is just me the other day. I was I slid into someone else's DM What's up everybody? I'm Chaz Wolfe, gathering the king's podcast, coming back to you hot and heavy. With another king here on the stage.
My brother, Noel Parnell. How we do? I'm doing great. Thank you for having me here today, Chaz. What's going on? Well, I I appreciate you coming and making your, presence known. I know that you've got a little, a little, a one year old addition kinda squirming around the room over there that you could have taking your time with you today. But instead, you're here with us, and so we appreciate you of doing that. I'm excited for this conversation. You've got all kinds of really fun stuff going on.
Tell us what kind of business that you have. Right now, I'm I'm a full time multifamily investor. I have different silos where I'm doing new bill construction, I'm acquiring to trust properties. And sometimes we're going after now, the a class. You know, we're moving up in the ranks. We're going after a class properties now. I love it. And I I noticed how you didn't say multifamily syndicator, but multifamily investor. Correct.
So we had we had a little bit of a chat about this before we hit the record button. And I and so tell us tell us your thought process on that real quick before we get rolling. Yeah. So I I my my I don't have our categorized myself as completely as a syndicator because I think I'm just boxing myself and, you know, this box is up into a corner. I'm an investor. I use syndication as one of my tools. To get Dills done.
There's no difference than, you know, doing a subject to Dill, which I've done on a 20 unit earlier this year. Or seller financing or going right to the bank. I just use syndication as a straight tool to get a deal done. Yeah. I love it. You're a dealmaker. And and a king at doing it. Love that part. Real estate for a lot of people means kind of, you know, similar language, but I don't wanna put that language in in in your mouth. Why don't you tell me what real estate means to you?
Why are you in real estate? So to back it up, real estate came. I've actually I stumbled upon real estate because of anger. I was laid off, maybe we'll touch on that. And I was angry of, you know, someone firing me. And I was like, I know the rich get rich, and I'm on the computer, and I and I came up with roller state. And truthfully told, I'm really good at real estate, but it's not a passion. I'm just really obsessed with it. My end goal is that I want to buy into a sports team.
So I'm using real estate as a vehicle, you know, to increase my net worth where eventually I can buy to is a minority ownership into a sports team. So it's a little bit different. People like, oh, I'm so passionate about it. Yeah. I like it. It pays the bill. Keep the lights on. You know, I'm just really good at it because I'm I'm being on systems, discipline, and methodologies. So that's really what's kinda separated me from when I say others, so I keep very good metrics on things.
And I just kinda I just came obsessed with an desired outcome, and that's the same thing I'm doing right now. Wolfe, you have said so many things that have piqued my interest. And so we're gonna dive into some of this here a little bit, but I I'm hearing you say that you have a mind a mind for for numbers and for tracking and for discipline.
All those things are gonna be super helpful to the listeners, obviously, but as any business owners building a business, real estate or none, real estate related, those things are very, very important. So I also love too that, you know, you didn't give me the classic passive income, a Freedom answer, which I totally appreciate. I love passive income. I also love Freedom. But you you have a plan here, and so I gotta ask first. Like, give us the plan. Like, you wanna what type of team is it?
What do you have the team identified? Like, give us a little bit of the end and then work us backwards on how you're getting there. Yeah. So my my plan is actually 15 years from now. My plan is to increase my network where I can buy into a Major League team as a minority owner I don't wanna be a main owner. It's like, that's two hands on. I just I just wanna be be able to sit court side or, you know, wherever it can be hockey baseball.
You know, I I just wanna be there, you know, and collect the check-in, but I wanna enjoy sports. So I worked backwards and I kinda I really all I did was So let me see how everyone was, you know, gaining their success. I'll take the for instance, Washington Manders, although I hate that name, They have a new owner, Josh Harris. Josh Harris is from the Pennsylvania area. He's a big equity hedge fund guy. You know, that's how he got his start, you know, 2030 years ago.
And I'm always in his DM on LinkedIn. Hey, Josh. I just wanna You know, one day he's gonna answer it. I'm gonna find how to connect with them. I mean, I use LinkedIn as a I slide in DMs on LinkedIn all the time. No shame. And I'm very concise on what I want or my need is and then what I can provide. But I'm always sliding in because that's how you that's how you get better. You know, if someone else there, like, successfully, you know, at least leaves a blueprint. All I need to do is follow it.
And then, you know, you put your own we all have personality. She just put your own than on it, but it in these blueprints. I don't need to recreate the will. Yeah. Well, I love this succinct 15 years. As well as then, you know, you've got it identified to to the minority piece. You wanna say court side or wherever it is. All those things are very you know, palpable. You can I can see him? I can feel him. I can touch him. And I appreciate that to that visualization that you gave to us.
Also think, dude, what a humble approach for someone at your level in the game who's been successful who's still sliding into the DMs. I love it. And if I could just poke one here for the listener just to say, hey. This is what successful people do. This is just me the other day. I was slid into someone else's DM because I saw that they had someone on their show that I wanted on my show. Uh-huh. And I slid right in and said, hey.
Would mind making an introduction and and, hey, I'd be happy to help here, here, and here in exchange. And and this is how successful people do it. We we just reach out, shake a hand, offer value and and make a clear ask. Would you would you agree? I always say that be very concise on your ass. Don't be long with it. Be very concise asked in which you provide because the number one commodity I've I've learned this time, people don't wanna waste their time.
So be there, be very concise because most likely some they may read it, but it may have somebody else reading it for them. And so you need to be able to, you know, have to convey something where they're like, you know what? Let me pass this along. That's right. That's right. Well, so just to make it clear, what's this guy's last name again, Josh what now? Harris. Josh Harris. If Josh hit, we're gonna we're gonna blow this clip up right here. So that way we can try to connect with Josh Harris.
And and I'm just gonna drop in the name that I want next on here because I'm I'm this the big picture for me is Alex Ramosi. I would love to have Alex Ramon right here on the show. Right? Come on. On his my one of my partners just gave me his book. I didn't ne never knew about the guy, but I just kinda told you, like, what we're doing now. And I was like, wow. It's a big deal. Big deal. His stuff applies to every industry. It's crazy. Every every industry.
He's he's really amazing personality, and I'm just like, You know? Yeah. Let me know when you get the morning. I'm I'm bringing a tune in or a tune in if you show anyway, but that's a that's a good one right there. Yeah. Well, we're gonna blow this clip up for both Josh and Alex to see, and, hopefully, we can make our connections. It alone should be time. For guys like you and I, we already haven't dialed in. It's just a matter of when it'll happen.
It's just a matter of timing and maybe enough DMs or maybe enough connections. We'll see what happens. Okay. Well, let's let's get into some practicality here. Let's go let's go you before real estate. What'd that look like? For me, I was professional track and field runner. So I I got my degree from Southern University, a 3 in biology, I tried out for the 2008 Olympic team. I didn't make it, but I was still chosen to guide run for someone that was blind in Beijing Paralympic.
Wow. So I still got to go to the Beijing games, which was an amazing I don't know if people remember that on TV, but the, you know, open ceremony was completely just amazing. I got to experience that. And then after the games, I was convinced by my stepmother, my father, like, hey. What do you wanna do now? You didn't make the left team. You know, what do you wanna do?
You so I whipped the work foolish up, and that was one of the dumbest things that I probably ever done, even though it kinda parlayed where I'm right now, because I was 26, 27. I was young. I could've still true enough for the 2012 team, but they were portraying my their fears, you know, on me. And now it made me like, So go ahead and and do that. You know, my father was, you know, well known at Merck. So I didn't wanna go to Merck. He coulda got me a job at Merck Pharmaceuticals.
I went to I went to guess the grain and went to Blackville Smith Cline. And from there, it got laid off literally about 9 months later after I started it got laid off. And I just remember the faces of, like, my colleagues, the whole building. Anybody that's, aware of Research Triangle Park in North Carolina around this time, was the building. Eli Hitching is like a beehive. They called everybody down.
They they, you know, the the building was closing And I just remember the looks on everyone's faces, you know, husbands, wives, fathers, mothers. And I'm like, it was just me. I'm like, I I'll all Chaz to do is take care like she had a roommate at the time. I had, like, 3. So I was doing I was doing well. Like, I was like, my rent was, like, too much of the the, like, splitting in, like, $200. But I'm like, they had they had dependents. And I still think about it now as I have a one year old.
I'm like, man, I I can just imagine the anxiety that they were filling of the unknown of, well, guess what? What am I gonna do? And, you know, you know, reloaded what I said, I got mad. Like, how do the how do the rich get rich and, like, you know, I'm this man at the world right now. Like, how can he get everybody off? And I've seen, like, 90. I think at that time, it was, like, 91, 92% of people were real estate.
And so another little thing I did was I would go to bars and Wolfe every day because I I was laid off. I'd have any job, and I will bookmark in that section. Real estate isn't as sexy as back then. It was really, you know, in the spare. Everybody was losing stuff. So that section was completely empty. I would just go to Barnes and Noble and write notes on every book there. I went through, like, almost 8 to, like, 8 to 10 books. There's bookmarking them every day.
There's writing notes, real estate for dummies, Gary Keller's book, you know, I was going to just through real estate. It's like, let me arm. And from there Yeah. I end up end up getting my master's degree later on. But I was going door to door. Like, I was I wanted to look at, like, auction sales. And so say, for instance, whatever area that you had, you you'll have a tech or foreclosure auction. And so say it right now, we're in we're in September. Oh, no. October basically now.
I have a look for what auction was coming out in January. And I would go knock on their doors for people who are coming up in January or February. And what that taught me was that one, I was a I was an because I wasn't thinking with empathy. Nobody doesn't want to lose their home based off Yep. Guess what they could pay their taxes or their mortgage. And that was like the, like, the way I felt that I just kinda completely forgot those faces and was just like, I've gotta get a property.
And I really lacked the empathy. You know, and that would it that's what it taught me. It taught me empathy going to his door to doors and, you know, families are seeing kids in the background because I would go on Sundays because I would like, oh, everybody would be home on Sundays. So I never knocked on a week, but Sundays afternoon was, my day between, like, 1:3. People would come from for church. Football Wolfe be on depending on what season it was in, but I knew people would be home.
And so I was I take instead of that, I take metrics, and I will I will just kinda mark down, like, let me see, you know, and just be like, alright. Let me have my better chance of, you know, talking to someone. And so I came this Sunday between 1:3. And, yeah, how was this a big asshole? And and but out of that came something better, because I I stopped asking, basically, give me, but more, what can I do for you? So my first question is, like, how can I help you?
How can how can I help you in a way that we can work something out there? Number 2, can we partner together on something that we can do here? And then number 3, guess what? You can sell it outright to me, or guess what? We depart, you know, casual, you know, friends or the things that need. Because at that time, I was a fighting don't even think our Starbucks was in this area back then. I think I absolutely take people to McDonald's, you know, for coffee. I'm I'm I'm serious.
I was like, I can't I think it was definitely McDonald's. I know Starbucks definitely wasn't out here. Panera Bread was definitely not in the city. This is 2009 ish 10. So, yeah, it wasn't it wasn't over here on this side. So it was definitely like McDonald's you know, you know, buying a medium. I don't drink coffee, but I was jumping like a medium coffee and Chaz sausage, Nick muffin, that we would just talk. And that's That's fine. I don't and so to this day, I still never fast talk people.
I don't believe that. I believe in always transparency, you know, being concise and be able to convey to, like, and listen to, like, active listening what, like, are you listening to what their needs are, or are you just kind of just listening to what you want? And so I'm always as to what the need is. And I think that's how the best deals get done. Yeah. Well, you dropped all kinds of stuff on us. I'm gonna use some of that acting listening skills that you just identified here.
We're gonna go back because You said you ran a a blind something or other in Beijing. So take us back from you being in Beijing. Yeah. What was that? Yeah. So so that, that's another re a way of, yo, learning how to help others. You know, and I didn't know that until I, you know, I looked back through all my my my history and how I got where I'm right now.
I'm like, you know, that was a life lesson thing Chaz, because you remember, like, you know, if you're an athlete, you're training for this one moment in 10 seconds, right, is over. You trained 4 years for this one moment at 10 seconds Chaz full. Yep. And you're like, oh, because, you know, check the individual sport. And at first, I was like, I don't wanna go to I didn't even know what the Paralympic laws. I don't wanna, do that. Like, what what is that? But, man, when I tell you.
Her name is Nicole Porter, an amazing amazing guy. He's actually just got married. He's in the Portland, Oregon area right now. Amazing man, tremendous athlete. He taught me, he probably taught me more about myself than I learned from him. You know, this amazing athlete is you know, you're you're tethered together, so I'm his mirror image. So I'm right handed as Wolfe. So I had to start off in my starting position as a left handed runner.
And you just mirror imaged them and really, you're just helping them stay in their lane and and go down the track. And they're they're fast. So you got to be fast as well. The only thing different is that They're they have been. That's that's it. Wow. Yeah. I just saw I think it was a TikTok video or something only here of someone doing this. And I and I had to watch it several times to understand what was going on.
I I figured it out pretty quickly, obviously, but I was just amazed that this exact thing that you just described was happening. I was just like, wow. This is this is incredible for for this person to be running at that speed. And not be able to really see and be fully trusting in their their partner. In this case, it was you. This that's incredible. I mean, they'd have people that long job. I mean, you know, and they're You could have totally Yeah. It's crazy. Crazy.
Okay. So So you get you get rocked in in Beijing by this other complete great athlete but has a a different circumstance than you. Changes your perspective, I assume? Yeah. It it definitely did. When I look back at it now, when I when I look what I do now and when I actually do syndicate or I join partnerships, I'm always again, I'm always looking like, how can I help someone? You know, you know, and then you've Chaz to be very transparent.
I always tell people, you know, when you look for investors, you know, what is your game plan? Are you trying to be wealthy? What what is the end goal for you? And I need to be you to be very granular on your end goal because that will depend if you should be a limited partner Or guess what? Maybe I can teach you how to be a general partner on your team. You know? If you're just looking for passive income that's gonna be slow and steady through the years and know it's gonna come, jump right in.
If you're just trying to be super rich, then that's another avenue for you. Not that you can't get super rich, but these are slow drip. People need to understand what those returns are, you know, how those returns work. You know, there's a lot of, yeah, again, real estate is very sexy right now. So you'll see people throwing out very big numbers of these returns. I would say take it with a grain of salt. There's some good operators out there.
But Sure. Yeah. There's a lot of operators that are just kind of, you know, and this is the downside of the kind of just kind of grabbing properties of acquisition fees and things of that nature, which sucks. I I look for, transparency because, like, my mother's, you know, income, my income, her her 41 k is in my project. So I take it personal. I know my my money is in in the project there. So it's very personal there.
And I, you know, I know the friends of family, you're first doing a syndication, it's all friends of family. If you're Absolutely. You're damn. They're never gonna raise any money from outside because you just don't have the check record. So it's always gonna be friends and family that you're doing that for. But once you know what their end goal is, you can help achieve what they want, you know, and be and have realistic terms on it. And that's how people get granular.
And I got that from, you know, a Tony Robbins book Chaz was the 7 laws business business mastery of get very granular on what you want and the numbers that you need. And it means how many vacations you wanna take a year, how many, you know, what type of car you wanna drive, and then you Chaz actually be like, oh, I didn't need this. No. Because people always wanna throw out a $1,000,000. $10,000,000. That's the thing I need. Like, really, do you really is it really what you need?
I know it's a very, you know, Brandy Olsen number. It's Sounds good. Yes. It it's good. You know, you should have those type of goals because I believe you should have those type of goals to shred you and what you will become to achieve those, but you also need to be very granular on what those needs are. And then you can be like, oh, I didn't need to do this. I can just connect the dots here and here and, oh, I'm receiving that there.
Yeah. Well, to your point, I think you actually grade you bring a great perspective to it because really being granular, like you're saying, helps you, I guess, even just understand what it is that not only what you want, but what it is that you need to do in order to get it. Yep. Absolutely. I I I know it's because I get so passionate about it. It's always gotta, like, calm down on it right there.
But, yes, it it, like, once you really, like, focus on what your needs are and it's just not money, it can be guess what? Cause night now, it's, oh, I wanna be able to, you know, be one of those, you know, parents reading books to my kid in school, you know, from time to time. Right. Not all the time. Yeah. Every time I wanna be there. Maybe I wanna coach his his little lead. Those are the things that are really important to me.
You know, my parents great parents, but they worked their asses all for my me and my siblings for us, and I always tell my mother now, like, kudos to you because I'm where I am right now because of what you did and and and, you know, how many hours you worked, whatever, you know, Yeah. The hours of father work. And now I can provide a different life for my children, you know, but it it's Yeah. Man. Yes. Be very granular in which what your wants are.
Yeah. The the the plan, the, you know, that comes out of the granular dial down desire. It comes up comes a practical plan, which I love. We're we're talking about this. But, also, here's another thought for you. I wanna know what you think about this because, yeah, it stems from whether it's Tony Robbins or if he's going further back to think and grow rich worth Napoleon Hill to have a clear plan or burning desire.
First has to start with you feeding it to your subconscious mind and your subconscious mind doesn't know the left or right, good or bad. It just it it takes whatever you feed it. And so if you're gonna feed it, I want a lot of money. It it doesn't know what that is. If you're gonna say, no, I wanna go on 7 vacations a year, it's gonna cost me this amount of money, and I wanna be able to, you know, x y z with my kids.
Then that's what it will understand, which then starts producing your circumstances. Would would you agree with this? I I told you, and I can't even explain it, but it works. Yeah. I I know it works because I am here as a living testimony that it works. If I could take you to my bathroom, I have a post to know 3 bullets on there that means something that right now, that's what that's what I'm attracting right now. And it it yes.
You have to be finally attuned with it, but, yes, I I totally agree. Yeah. It Wolfe it it it stems or it starts, I guess. There's the rest of the dominoes. Right? Like, you can't can't then go have the action or the the plan or then the action that follows the plan, or you can't have the energy or the frequency that we're operating at. Even right now, just the energy that we're talking back and forth, You can't have any of that without just this one clear, like, this is what I'm after.
And so I just appreciate that perspective that you would bring that to the table here. Okay. So you so kinda fast forward here. You you wanna you wanna parlay this into a a bigger play of owning, a team of some sorts What does that mean to you? Like, on the depths of it, yeah, you like sports, but what's, like, the deep in there? Why are you really after that? I think that's where I'm wired for it.
When you actually break down, I hate I don't wanna beat a dead horse, but when you actually go down, it's like what you want out of life and you go granular and you'd like I do a system called 5 wise. It's a it's a lean sigma 6 thing that told you how to start it. Back in the day, but you just kinda go until you get a singular number or a singular answer to something. And it was like, oh, this this is what's driving me right here.
It wasn't that I wanted, you know, this role of state here or this, you know, like, no. And I I don't wanna continue to do syndications over and over again because that's it's it's heart wrenching. Not nothing Chaz something's wrong, but I put so much into it and I bear that because it's someone's money. You know? And I'm just like, I'm ill, and I'm kinda I'm very tough on the property managers. They're probably like, oh, no. He's on a call again. Yep. I am.
Because I wanna make sure them distributions are made. I wanna make sure that the because the easiest part is signing a loan. That's the easiest part. Sign in alone is the easy part. Executing the business plan based on your pro form a is the work. Like, now you have to execute what you your hypothesis, the sciences, your hypothesis. Now you gotta execute it. But when I went down, like, very brainer, like, what what do I enjoy? What makes me happy?
You know, and I looked at it, and I'm just like, oh, it's not only, like, I would ideally, I would love to own Philadelphia Eagles. I'm a big fan. But I'm just an avid sports fan, and I look at where ownership can take you within a sports franchising. And just as I told you, I reached out to folks, you know, Josh Harris.
I reached out to folks that own, minor league baseball teams, you know, or formally Chaz are in, you know, the northeast you know, Massachusetts and, you know, how are they running their operations and how they're putting those deals together because you need to you need to have knowledge you know, of these things. This is not saying, hey. I have all this money. Put me in there. No. You have a responsibility there too as well. You know? So with the money comes responsibility there.
Yeah. Yeah. I love that that you Wolfe, again, humble approach of checking out some of those folks that maybe in your eyes aren't at that, you know, major league level, but maybe that's where you end up being. Maybe that's where you like to be. Maybe that's where you just start. Who knows? But making those connections. Because that's gonna be a right choice. That's right. You have to have it where your where your love your love is.
I've been in uncomfortable situations where Oh, it's something you need to be in com uncomfortable situations for a time period, but ideally, you know, you wanna do stuff that, you know, But but especially when you get to a certain age, you know, you Eric, I tell my nephew just all the time, you know, I always I don't wanna get off tangent. Let's talk about some of my nephews because they're young. They're one is one is sixteen. The other one is twenty in college.
You know, and there is the the girl age. And I say, listen. I I'm told right now. So, listen, if you follow this blueprint, I'm giving you right now, I guarantee you, you'll be winning at 25 28. Leave the party seeing alone. Stack your money. I'm a have a self directed irate Chaz you can place in here. This is the what do you also have to place in? Don't switch job. Let's tell my nephew.
Like, he like, every college student thinks they have to come out making 200,000 in out of the gate as a as a new, you know, intern or a new worker. And I'm like, no. Just stay there. Stay down. We'll do a FHA loan for you. We'll get you into a quad. 333 percent down. You rent the rest of them. You have stack money. Guess what? It's gonna make things so much easier for you. You know, this be very this is the process. I gave you the blueprint right here. Just follow it right now.
Yeah. Yeah. You're being rich dad, and I think if if you and I had that opportunity to go back and be sixteen again with you talking to us or, you know, someone like us, Dude, I mean, come on. You know, right? Money, I wasted all of them party. Oh my goodness. I we're still laughing. You know, my front boy days. Oh, god. It's Yeah. Yeah. It's all it's all the waste when you look back, but, you know, it's some it's it's just the hand.
Like you said earlier, it's just the hand that we've been dealt, and, we've We we make, yeah, we play the game based on it. It's not a big deal. You said something a second ago that I wanna I wanna I wanna ask because you mentioned, you know, having the ability to have a plan, or or in this case, what you were talking about was the investors of a syndication, right, and the pressure of that turns you into, like, okay. Well, we went and got the loan, but now we gotta execute.
We gotta go freaking win. And so I wonder what what do you think the listener right now? Because, obviously, that's it's a self imposed pressure that you you went out and raised the money. Friends, family, or whoever, it doesn't matter. And and now you need to perform. And so you obviously work in a integrity and and Chaz, therefore, that's pressurizing the situation so that you can make sure that they get the their distributions. All that is is fair game.
The listener right now may not be in that situation. They just started their business. Maybe it's small. Maybe it's a big business, but they're not in that quote and quote pressurized situation where they have to follow the business plan because there has to be distributions because someone else is on the other line.
What would you say that you had or have currently in some of those deals where it's pressurized like that that maybe the listener doesn't have that they can glean from you because they don't have that pressurized situation. What what what do you what can you take away from that? I guess 2 things. Never never worry about the, you know, the number of doors, but worry about the net. You know, I I would kinda dig on doors, so it'll always be the net.
And remember that singles and doubles will get you to the hall of fame just as quickly as home runs. It's not as glamorous, but singles and doubles will get you right there if you have if you have that plan. And when I look when I look at my own portfolio beforehand, I was like, man, I did did a great job over the last, you know, 14, 15 years, you know, gathering small real estate and, you know, some of those are, you know, paid off from Ken out refis and then other ones.
I still have loans on, but I did it with a, you know, a methodical plan. And I would I would tell that person, like, to homes don't don't have the FOMO that guess what? Because you're still, you know, maybe you you don't you're not doing a 100 unit building that guess what? You are not crushing it because the what they don't tell you in syndications that most people are offering a pref.
So most operators are getting paid off of a asset management fee, which is like 1 or 2% and then they're gonna get paid on the acquisition And then that's it. Unless they put their money as LP, which I always do, but they don't put their money in there. They're not getting paid until that property is sold again. And so that's why people have to do so the frequency of deals to make sure that they always have income coming in. So you're doing you're doing well.
You that that's what I would tell you. You're doing well. Be very don't get the phone well right there. Singles and doubles get you to the hall of fame just as quickly as home runs. Hey, Kings and Queens. Jazz Wolf. I wanna talk to you about something that's super important to me. We put a lot of time and effort. We, meaning myself and my team, into this podcast, into the content that goes out every single day.
And if you have been getting any sort of value or insight from this, we want it to be able to reach other business owners too.
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Let's help each other. Let's help each other grow. Yeah. One of the things you said there that fits right in with the single and double, comment that you just made, why would you tell your nephew get into a quad, you know, things will start to domino. Why why start there as opposed to what you're saying, you know, trying to get into, you know, syndicate a a 100 unit deal, you know, right off the bat 25. Well, one, there's differences in residential commercial.
So commercial, you have to have that network. So it's gonna be 101. So if you can't, if you don't have, this is a if it's a $2,000,000 property and you don't have $2,000,000 either liquid or net worth you can't sign on that loan and you'll need someone called a KP or a sponsor. So for him, I would say it's a lot easier for you, your transition. And you can cash flow a lot more, you know, off of that property than just kind of, you know, if he wants to, he can get in there.
But this is another good segue because I've now come to think another little pet peeve in mind. He said he's going to school to be an engineer. He he may love his job. He doesn't have to quit his w 2. And it's what's big on social media Chaz, like, if you have a w 2, Oh my goodness. You can't you can't have, you know, what what in the world you're working for someone. There's people here that I I didn't I I did not dislike my job.
You know, I just outgrew it, you know, because I thought I need to be vertically integrated. And I actually had this conversation, like, 2 weeks ago, if I would've known to know how to debt property managers, I would've just put them in property management, and I still would've been working as a as a scientist. I I didn't I didn't hate my job. You know, I just wanted I just didn't want the power of somebody to disrupt, you know, my my livelihood based on someone I didn't know.
Chaz was the that was the only thing. I still miss science. You know? So, like, it's so that always tell people, don't don't feel bad about having w two when you work. And that's one of my phrases that I do is, like, Wolfe without Wall Street and that I help smart people with lazy money. You know? So that might be money that they just have sitting around, and they don't know what to do with it.
Like, I know so many people that had a problem filling out, you know, their health insurance, not alone. They're just filling out whatever the company is saying, well, we're matching and you don't even know where what it's doing. You know? So let me help you explain, like, alright. And I actually do this. I'll sit with them and say, hey. This is when your portfolio at your job is performing right now. If you're matching right now, I'm not gonna tell you not stop matching. It's free money.
But I would also ask you when is that vested? Because that also plays, you know, a a point in there. If if it takes 5 years for that money to be vested, but you wanna flip your position 2 years, then maybe it's not a good, you know, opportunity for you to, you know, always match it because you're not gonna get that. You're not gonna see that money anyway because you're not invested. So it always has to be, like, what is the end goal of your your your your investor?
Yeah. And and if the investor is you, then what is the end goal for you, which you've done a great job of sharing Chaz? I think that for the for the business owner listening right now who's not involved in real estate, something that I did as well, which is right in the same lane here, is, of course, I went I I held on to my w 2 as long as I could. And then after I left, I actually, a couple years later, back for a short period of time because I wanted more money to invest in real estate.
It wasn't so much necessary for the w two, but there's a huge value in what what Noel Sam But what I'm also having here just as a display, you know, do whatever you want. It's not not advice on my part. It's just what I did.
Is that I I started Chaz my companies became profitable, I started putting myself on a w 2 so that for this exact same reason, is that I could then go to the bank and become, quote, unquote, bankable on the real estate side because for me, very similar to you where I know I'm doing business. I'm gonna have lots of business I'm I'm a serial entrepreneur, and I love business.
But for me, business is an active income type of scenario, which makes me money, and then I I pour that money into real estate. And so very similar to the situation that you got over there where you're doing real estate unto buying a team. It's like, look, I'm I'm building all these businesses so I can make money poured in over here.
But in that same process, being quote unquote bankable is an actual thing, whether, you know, whether you wanna realize it or not or say something or about it, it just is what it is. So that's part of your part of your team. I always say is that you you need a good group of bankers. You need a good CPA. You need several good lawyers. I have them on a team that, you know, you need them. Yeah. I pay them handsomely, and don't be cheap on it. Pay them for what they what they do. Yeah. That's right.
What's you you've mentioned several good things that you've done as well as some great advice that you'd give to your nephews and have probably have given to them already. But What's been something that you've done that's been a bad choice? Just a really bad hour, bad consequences. We wanna learn from it. Never have to deal with it. Man, so many different ones. 1, I think I I just like you, I think I left my w two a little bit too early.
I think I I should have looked at it more robustly because I thought, like, I could be Berkeley integrated. I would have stayed there you know, at least, you know, probably, you know, I would say I could still be here now, but I didn't have a problem. I could just I could have done so many more deals with that salary, with everything else, I could've I could've, yeah, I could've just doubled that. So that's one mistake I could've I I made.
The next one was being too too nice, and that was with a property manager. I was too nigh too friendly. I Wolfe say I was too friendly and not keeping it business. And that was one thing I learned to be in being a shrewd businessman Chaz you can be cordial But when it gets to the point where people are crossing the line up, that friendship that you have and now aren't doing their daily duties, but expect that friendship to be there. Like, oh, to save me. That's where lines get blurred.
And, yeah, that was a that was, say, I end up having the fire pump. And they should fly down there or fly to fire that a a friend in the property manager down there. But it that was a good lesson of how to really and then also no matter how good friends always have good documentation, we had an agreement, but I I should have made it very specify to what we were doing. And So general, just because we were friends. Yeah. Yeah. I mean, you there's so many so many lessons you gave me so much there.
I could go different directions, but I'm gonna go I'm gonna go with the word shrewd because it is such an interesting word to me. And to some people probably heard you say I needed be more shrewd in essence and thought, well, you already talked about, you you were an, you know, an to begin with a couple, you know, you know, at the beginning and you're too mean or whatever. And what are you talking about? You need to be more shrewd and and you need to be kind.
And, like, I can just arc I can already hear some people. But shrewd, being a shrewd business person actually is found in the bible as well. And so what's your take on what it means to be shrewd? I just think it is being sharp power. Like, just have them read judgment. Sharp powers of judgment. That's what Shrout means. Doesn't have to mean you're an old, but I It's a rule I call the Linda Thompson rule. And Linda Thompson was a she was an elder.
I don't wanna call it elderly, but she was like, 79 eighties, whatever. And this is back in 2014, 15. And I I've never forget this rule. When I call it, I call it a rule, because based off her interaction I Chaz with her. I was buying a group of 16 properties from her, and we we were we're doing the deal. And at closing, she was oh, that's shit you're not. It was a dollar, about a dollar 59¢. And everybody there thought we were just gonna wash it.
She was like, so how are you gonna pay this dollar 59 to me? And I looked at her. She was like, it's owed to me. So why why would you why would you assume just because it's a dollar 59 and I'm getting this big amount, then I didn't care about that dollar 59. And I was like, damn. That's what a good rule of the whole time that I just let people go like, hey. Don't don't worry about it. It's only a couple of bucks. No. That all adds up to something.
And that's what kinda starts spearheading that, but I love that Linda Thompson role because to me, she wasn't me, but she was a shrewd businesswoman on what's over. It didn't matter that she was receiving almost $500,000 worth of, you know, income. You know, she was like, where is that 555,159¢? That's owed to me.
And I was like, and from then on that, like, no, you know, I take no shorts, you know, and actually, like, you know, if there's something nice that you have my penny, Like, she started that. So anybody listening to gas here, you see me at a gas station, you're like, oh, we got different at Penny Blaine Linda Thompson. Because of that, and they're cruel, man. She taught me. Yeah. I I appreciate this perspective.
I'm a pretty prudent person, pretty detailed, and some of this can be, like, you know, kinda getting caught up, like tripping over a dime or tripping over a a dollar to pick up a dime type of a scenario and and people get lost in the wrong weeds. I think in some people hearing you, but what what what I really feel like you're saying is that the details matter and what's right is right. Right. And so the the principle is what she was going off of, not so much necessarily the dollar 59.
Yeah. It It was the principle of principle. Yeah. It didn't matter. It didn't matter what it was. Yeah. And so how how does someone take this forward? Is it really asking for the penny at the gas station, or is it a is it a greater principle here that they can apply? No. I think it's the greater principle of, you know, always getting with o to you, especially if you're providing good service, expect that bet to you, You know?
So I think when you're when you're moving in business, there there's a level of code and and it's like trials in the sports, but the, like, it's like Wolfe. It's an unknown code in how you should move in business. You know? You know, sometimes you have to call a strike on yourself, even when someone doesn't see you, because that's where, you know, you know, being ethical comes into play.
When you know something's wrong, that's so that to me, I kinda group all of that together on, you know, the Linda Thompson rule and how I'd like I said, it when I look at my my history of business, whether it was my my cleaning business, you know, that I had, you know, I I had tons of, like, tiny serial entrepreneurship, and I play it through in full state.
But when I look at it, it all encompasses all these life experiences that I apply now and kind of, you know, how I deal with with people in general because I always tell people, real estate is easy. People are difficult so that people can be anything from title company's contractors. It can be from 3rd parties. Real Estate in itself is easy. It's numbers. You know?
It's the people that made things hard and it's up to you and how you, again, and how you really How how do you what's the word I'm looking for? What what when you're dealing with people in Chaz a business and as a business owner, Well, is it I mean, it's it's the it's the juice. I mean, it's everything. I mean, and what you're saying is true for every single business listening right now. It's not It's not the widget that they sell or the service that they provide. It's the people.
And the the strength of their team, which starts with the strength of them and being able to, you know, I guess grow individually, but then you have to start being able to to grow the team. You talked about, you know, handsomely played professionals on your team a few minutes ago. This is it's the same in any team building, effort.
People are are everything in that you you you said that, you know, being shrewd and and and the expectation, you know, of of getting what's due to you, I see the same as also making sure that the people that I owe, right, and it's the same. I I've got a couple of, buddies that are a little bit more rounded in their approach rounded not meaning, well, and I guess it's not like this. What we're talking about, precise, rounded, precise opposites in this in this example, where it's like, hey.
Don't worry about it. You know, I got lunch this time. You got it. You got it next time. And where I've lunch is kind of a bad example because it's just running out that big of a deal. Kinda like the 9, but it's like Yeah. No. At the end of the day, I'll take care of mine. You take care of yours. Or whatever the deal is that we agree If I'm paying for this, then you pay for that. Whatever this whatever the agreement is, let's just honor that because Yeah.
What I have found is that those individuals are just floating through life. And eventually, there's either a wedge that gets in between us and them or they're just so aloof to just what things are Chaz that I end up I'm the one that ends up getting burned. You know? You hit it you hit it right. So it's a it's a shrewd piece right back to your point. You hit it. Yes. Yes. I echo. Echo the fame. I'm I I Chaz tell. I hit I hit a bad memory there. Yeah. I echo those statements there.
We'll we'll leave that one there at the doorstep. Let's move on to family. I gotta ask you about family because I know you got a little one year old there, and life is different for you now than maybe it was. Just, you know, a little bit ago. You know, I've got 4 kids as well, but here here you used the word obsessed earlier, and I love the word obsessed. Okay? And and I I don't even know what balance is. I don't wanna know what balance is. I don't think it exists, actually.
So for you being obsessed with real estate so that you can then, of course, buy this this team of sorts in 15 years from now. I I Chaz just feel that you're gonna go as at the same degree of obsession with your family. So tell us how are you doing that? But, yeah, at the same time Chaz this 15 year all in, I'm obsessed. I gotta buy a sports team. And probably everything else in your life too.
Something you just said right there about obsessed and, you know, not wanting to have anything, but have it elsewhere because I don't I don't believe in multitasking. I don't believe I think you can only focus on one thing at one time. And if you're doing something else while you're trying to do something, you're doing it a disservice. So you can't be completely focused. And so I set rules of engagement when I'm with my son and his family time. We have dinner, I don't bring the phone.
I don't I I check-in. I'm completely tuned in and being present right here and right now. You know? And there's there's occasionally, like, I have Tom blocks where it's this frivolous activity where I'm just answering these emails to check-in the email blocks. That's something that I can do right there. But when it's when it's, you know, I you want to be focused on the the task at hand, So I'm very, very, very keen on keeping my schedule. You know, I'm up at 4:30 morning every morning.
I know where I'm at at 5:30. I know what I'm doing at 7:30. And, you know, I know what I'm doing at 8 because I'm making my son breakfast. I had that time blocked right there that we can do it. Then I know what I'm doing at 9:15. And that works for me. And I always tell people you have to figure out what works for you.
And for me, I knew going trying to juggle many things and be like, oh, I can do toot this thing in twice, and I'm answering I don't even answer, like, slack calls with, like, VA's and stuff because I can't focus if I'm up here ping. Oh, man. Let me do this. And then, like, oh, man. You you just you just went away from what you were doing because, you know, there's no bash and honor.
There's times when you have to work around the clock, but there's no bash and honor of having continuous sleepless nights because you're doing busy work because you didn't know how the time managed properly. And actually know how to plan out your week or moff and know, hey. These are my must haves for the day. These are my must haves for the week that's gonna go into this month that's gonna be going to, like, my shut goals right there, and that's where you run it like a business.
And I am very I'm very anybody know that I'm very big. I'm very big on that. Like, making sure I know what my schedule is and being a master of my schedule. Even had the Tom Black. People think this is wrong, but I had the Tom Black, even to just call my mother and be like, mom, hey. Yeah. I love you. It's the only 5 ticket. That's what she wants to hear right now. Mom, I'm doing okay. I love you. Yes. Your your grand baby's good. Yes. I love you, mom. That's the 1st grand baby.
So he's like, oh, these, like, Simba, like, you can't he can never do it anymore. You know, I'm just like That's good. Who are you? My parents, like, who are you guys? Like, what? Like, what do you mean? Yeah. You know? Well, you're hun you're 100% right.
You're 100% right on not only just the list with your mom, having that on your time block, but what the the the story underneath, what I just heard you say is for anybody listening right now who's, you know, busy or chasing their tail, which we've all been there.
And and if this is you right now, pipe up your ears because what Noel is saying to you right now is it's an excuse and you're disorganized and you just need to be better at time management because once you get Chaz, we all have the same 24 hours. And guess what? My guess is that Noel is actually dealing with probably more money and more transactions and heavier weighted decisions than you if that's you that that I'm talking to right now. And how's he doing that?
If if he has the same amount of time, well, I can tell you from my perspective, it comes down to the the time management and the calendar. I also too have time where I check mark the box on who I reach out to. I, in fact, a couple years ago, I even created a list because we moved across the country. There was a a list of friends that I purposely and intentionally wanted to stay in touch with knowing that I lived across the country now and that it was gonna be much, much harder.
So I created a list and on my way home, from the office every single day, I'd call I call the next one down the list. Just every single day, just the next one down the list. Hit the top of the list and then all the way back down again. And it was just a quick 5, 10, maybe 15 minute call. That's all I had before I got home to the house and went in for the kids, but that was the intentional 8 minutes that I had to say, hey. I was thinking about you. How you doing? How are the kids?
Cool. Like, but it has the business, blah blah blah, and then you end it and and you move on. So I appreciate that perspective. I got one last question here for you because you've been just so incredible. Curious to hear your perspective here. If you could go back to you already you already gave us a little bit of this perspective with your nephews, but I want you to go back, reach back in a time, and whisper in the younger no Wolfe here. What do you tell him? Oh, man.
So many different damn things. The main the main thing is, you know, have grease on yourself. I touched on it a lot now that I believe that everything I went through has gotten me to this point, and I'm not done yet. I'm I'm gonna continue to grow just because I I know I have what need in place, and I'm not scared to ask for help. That's another thing. I'll be scared to ask for for help. You know? But when I would have said this, be be softer on yourself.
You know, give yourself a little bit of grease. I was one of those folks that were that I was just talking about, you know, I I thought wearing that badge of honor. I was wearing, yeah, everybody's listening to Wushi Attech or Black. So they were, like, my 24 hour office I was I was in there from 5 AM and and wouldn't leave sometimes, like, one. Just doing Yeah. Just doing minor stuff that didn't even matter. This was, like, This is what it takes, whatever, but my life was chaotic.
And that that's where it is. I would've got my life in order a lot sooner because I was living in chaos. And the moment I I settled back and let the dust clear and organized it, things have gone so much smoother. You know? And I'm I'm grateful now that I even have partners that are lying like that. They're they're probably they're they're even better than that to me and processes, whatever.
So it's I'll ask that's what I would tell myself, you know, you know, stop being so hard on yourself and and definitely you know, although with some good times, but get get your get your ish together. It was chaotic. I thought I couldn't get a blockbuster car back in the day. If it was, you know, if this is blocked with the video, that's how bad my credit was.
It was because I it wasn't that I had outstanding things is that I was always a full scholarship kit, I remember the Discovery Car people on college campus. And I was like, why is that lie so long? And I remember people getting these credit cards. I was like, I'm not staying that long. It was Louisiana. Was like, I'm not standing this long line for a credit card.
So that probably saved me on a whole bunch of debt, but on the flip side of that, I didn't I again, it was also a bad thing because I didn't I didn't have any credit history, which also I teach my nephews right now and One of them will be eligible for a secured card, but I put some on my AmExes and things of that nature, but you just wanna create that history. You know, even when I do it, my son now, you know, my son has 11 units.
And I do eleven units through I did I started a mass mutual custodian fund is they have a UTMEA's and UTGMA's or universal transfer or a universal gift. And the rental income goes into that. The custodian account goes into a SP 500 index fund. So I let compound interest this work is magic there, and then he'll lay out the properties. You know, I wanna get him, like, 3 to 4 every year. And then, you know, hopefully, I'm doing the right thing. Hope like, you know what, dad?
I'm gonna sell 2 of these and buy some down into college. I wanna go to rent those and that'll pay for his education. So, you know, that's that's my strategy plan for him, but is this, you know, different perspective and you you look at things now? Yeah. I love that. I love that you've integrated that into your own family now, which you possibly could have been able to share to yourself. I think that all those things are amazing. Noel, thank you for being here.
You've been just not only an inspiration, but you've transferred courage. As I always say, I just love that. Your story is incredible. How can a listener find you if they wanna connect with you? If they wanna best with you. There's a deal down the way. I know that I know you actually tell us about your your you're going across the country, and you're gonna be doing these kind of random pickups. Tell us 30 seconds on that actually as well.
Yeah. So I have a challenge where I'm going to a several several cities inside of the country that I have. I know no one, so I can't use any previous real estate funds or history to obtain a property within a year. I'm gonna document it and to show everyone how it's done. And that may include that I have to get a w 2 because I can't use any previous funds.
So I'm going to show people what to do and how you how you should do with the parlay and some bigger things if you want to, but I'm a show it. Yeah. So we we can find you on YouTube for that, or where can we find you? That's gonna be on YouTube. I haven't created that channel yet, but right now, I'm on LinkedIn. Wolfe Parnell on LinkedIn. That's really my Wolfe house. I'm also on Instagram. Noelle Nell. My name on Instagram, and my website is www.crowncapitalcrown capitalcapitlcorpcorp.com.
I'm not sure when this is gonna air, but we have master classes all the time for people that want to learn about multi family real estate. We're doing one on the 28th, but we're doing them, like, once or twice a month. We're just showing, like, folks how to get into it, you know, and then you just gotta tell us, like, what type of industry you wanna be or become? Yeah. I love that. It only makes sense that that the crown capital was here on gathering the kings.
And so thank you for gracing us with your presence, and I wish you nothing but blessing, especially with your son and all the things you have your hand too here this year and next. Thanks for being here. Thank you so much, Chaz. Thank you so much. Thank you for all the listeners. Keep driving. Thank you for listening to Gathering the Kings today. I hope that you were able to pull out a few nuggets to go apply into your business right away.
More importantly, though, I hope that you're realizing that it takes more to be successful than just being by yourself, doing it all on your own, carrying the weight all by yourself, what I have realized, not only in my own journey, from multiple businesses and multiple different industries, and now interviewing over 2 or 300 other very successful 7, 8, and 9 figure business owners is that it's tough to do it alone. And so gathering the Kings exists to bring together successful entrepreneurs.
In fact, we are putting together 1000 Kings specifically who are grateful, but not done. We're intentionally assembling kings who fight tooth and nail for their business, family, and communities, and here's what we believe Chaz in the pursuit of excellence in those areas, that it ignites within us the responsibility to govern power and forge a lasting legacy.
So if that relates and and resonates with you and you know that you need people around you, sharp qualified other very successful business owners. I want you to go to gatheringthekings.com. I want you to take a look at what we're doing and see if it makes sense for you to be part of our pursuit to 1000 kings. Talk soon.