Nothing Is Given, Everything Is Earned with Dave Allred & Tyler Deveraux

All right, aloha and welcome to another Aloha Friday Friday . This is Tyler Deveraux and we have Dave Allred in the house. Dave, welcome the Growthcast , bro. Thanks for being on. Hey, great for being here, man. Thanks for having me. Absolutely, man. So those of you who do not know Dave you need to know Dave.

He has a wealth of knowledge. I'll promise you this right now. You're gonna want to. Have a, have some pens, papers, whatever you take notes on and dive into this thing, man. He was the regional VP of sales for vivent for what, like 17 something years? Is that correct? 15 years. 15 years. You don't look that old man.

You don't look, you don't look that old. A lot longer than, a lot longer than the four months that I was created to go out in Chicago to knock doors and sell security. So now turn into 15 plus year leadership career. Dude. That's awesome, man. That's awesome. And then you ended up growing the sister company, Vivnt Solar, LED 121.

This stats crazy man. 121 sales teams across 41 states which helped both of those companies go public with multi-billion, billion dollar valuations. Vivid's obviously a, a behemoth. Then you transition into real. We can talk about all this, but acquired a bunch of doors now is the managing partner and c e o of Axia partners.

They're on their second fund and it's an awesome fund, man. I was chatting with Dave off camera a little bit about everything that they're doing within the fund and how they diversify and what they focus on, and maybe we'll get into some of that as well. But you need to hit him up, man. He's also an amazing public speaker.

And executive business consultant talks about leadership sales. I love that you put adventure in there. By the way, adventure, real estate, family, dude, all that is a ton. Man. That is a ton. And I wanna lead in with this question. Okay. You've achieved a ton and you're also very intentional person. I can tell that for sure.

And I've heard you say before that freedom is your biggest motivator. So first two questions, delete in with that. First, like how do you define that? And then number two, like how do you manage everything that we just talked about and maintain freedom? I know it's a loaded question to start off with. Yeah.

So I would define, freedom. Because freedom at my core, my biggest motivator for Dave Ard is freedom. And I would say that's not just it's freedom, but it's also freedom of time, financial freedom and lifestyle freedom. And when I first got started it was all, it was really just focused on, how can I create financial freedom?

Once I accomplished that, then it led to, okay, let's really focus on financial time, on time freedom. And, once I was able to achieve that, then the focus switched more towards lifestyle freedom and what I would, in general, what I'd say that means to me about having this freedom.

It's the ability to be doing whatever I wanna be doing it with the people I wanna be doing it with when I wanna be doing it. And that's how I'd summarize what freedom means in terms. How do you manage that? Great answer, by the way. Can I just say, that was a freaking great answer. You nailed that.

Thank you. I appreciate it. In terms of, managing, kind of balance between business and then, I've got these four beautiful kids and a family I'm very proud of. I get that question a lot and. , I really studied that to a down to a science, with this leadership career at Vivnt, for the most part, I was leaving for the summertime, for four months, and it's very intense and it's not like very intense.

And and you're away from your family. People, you love your friends. And so here's my, my. I believe that balance is a fallacy. I think that anybody that's really striving just to have a balanced life is gonna have a mediocre life because balance is what we assume to be average.

What's, what the status Q status quo is. And so to me, it's not about trying to have balance. I believe that the price of greatness is in balance. You actually have to be willing to go all in and be willing to make some sacrifices and not have balance at some points in your.

With that being said, whether that's starting a new business or launching a new, even launching a new podcast or a new real estate deal that you're really excited about or launching a new fund or, whatever that might look like. And you've gotta go all in to be able to be great at it.

And but with that being said, I also believe in seasonality. And what that means to me is, if you go and you're imbalanced, cause you're so all in on one project and getting it off the ground and dominating and winning, you've gotta then later on, Make sure you make up for that with your relationships, your friends, your wife, your kids, and your health and your eating and your working out fitness.

And so it's really more of a macro view on what balance means to me. I'm going to be very imbalanced. My wife's used to it now launch new business or, the new fund or we My partners and I brought a top golf into Utah County here, and there's definitely times where it's very stressful and it's imbalanced, but at the end of the day, I make up for that, when I have time and maybe it's the next month or the next quarter.

And so in general, in the year, I wanna be very balanced. But there's definitely points within that year where it's very unbalanced bro. You speak, that's absolutely that is a success principle and viewpoint and mindset or perspective, or however you wanna say it, that I just believe that most people just don't talk about, they want to talk about balance being this per, or, freedom being this perfect balance across life to be able to do whatever you wanna do.

Dude, no, like I, I completely agree with everything that you just said. There's seasonality behind it. And my wife is also very used to this now where you have to go all. And then there's gonna, then you're gonna, then you get that done and then you can go all in on family. And then there's, it's never just this perfect balance, bro.

And when people understand that, and if people don't understand that, then as they're trying to go all in, shit, man, they think that they're doing it wrong. No, you're doing it right. You have to go all in to be able to do those things. And I would add one more thought is, and my all time favorite author is Jock Olink Navy, s Team three, and, extreme ownership and the dichotomy of leadership.

But he says, discipline equals freedom. And I believe that to my core discipline equals freedom. When you hear about my lifestyle design and my win the morning routine and some of the habits that I follow. . A lot of people are like, man, that's so disciplined. Like it doesn't sound like you have a lot of freedom cuz you're like so structured and like rigorous with your habits and your routine.

But to me I feel like doing that really actually opens up so much more open space to be able to go out and really, pursue my dreams and be able to go, dominate in business and be able to go and do the things I'm passionate about. Because I know I've got my health in check in the mornings.

I got my ki my time with my kids in the evenings, dialed in and chunked off my calendar, date night with the wife and everything else. It's really like the highest prior. And that actually opens up so much more flexibility to go and have true freedom. See, this is what I mean by, I know you're very intentional.

Cause everything that you just said is very intentional of where your focus is. One of your last IG posts that I saw, you were talking about how many decisions we make in our lifetime, or how many decisions you make in a day. Do you remember those stats off the top of your head by. Yeah, it's a really fun exercise.

I'll just run through it real quick with you. So if you take your average age, so if you're a male, it's 78. If you're a female, it's 81 years old. You minus from that your current age, that gives you how many years are left in your life on average times that number by 365 days.

Gives you how many days are left in your life. Times that by 35,000, which according to Google, is the average number of decisions we make in a day, which is a ton, right? But that's everything. That's what you wear, dress, your speed, your changing lanes, all of that. And for me that kicks out about a half of a billion decisions left in my life, which is a ton.

And but if you have a real purpose in life and you have a, a true north, and you identified how you would define a life well lived and what that destination looks like, you're just gonna have a lot. You're gonna get there a lot faster, but you're also gonna have a lot more fun in the journey because there's purpose and intentionality behind why you're doing what you're.

Yeah, that, that's the, that last bit that you said there when you wrapped it up at the end of that. That is, I loved how you tied it in, cuz that's exactly it. When you have that true north, like you said, it makes that decision making process so much easier. And it also helps you understand that you're going all in on something for a reason.

There's reason there's intention behind it. It doesn't mean that you're gonna forget everything over here. No. You're gonna come back. I just went on this tear in December where I was gone for, I don't know, three weeks or something like that. And people look at that and they're like, man, that's crazy.

And you know your family and no dude. Then I come back and I'm, I go all in with my family and. Spend way more quality time than most people ever get to spend. It's it's a beautiful balance, bro. Balance like you said as a fallacy. But all this is balancing your life. That doesn't mean a 50 50 balance.

That means you're balancing your life with intention. I love it. So it's awesome, dude. So tell me about Axia. So you created, when did you guys started that a year and a half ago. Yep. About a year and a half going, coming upon two years you guys have been crushing. What does axia mean, by the way?

Yeah so Axia, the word itself is it's Greek for creation and value creation, and in my leadership career that was something I was always big on is just, creating maximum value. My all time favorite. Quote is Zig zeigler, and he says, you can have anything you want in life if you help enough other people get what they want.

And it's always about creating value, as a salesperson with your customer, as a businessperson, with your customers as a fund manager with our investors, even with our assets and our communities, with the, the communities that they serve. And so it's really and so our fund is actually focused on com, recession resilient commercial real.

And we've specifically focused in apartment complexes, which I love. It's kind of bread and butter for me. Housing is a necessity. Food and shelter, you've gotta have it. We also invest in RV parks, huge cash cows. We love storage units. One of the most recession resilient assets out there.

And then also industrial warehouse. All the economic indicators show in the next five years that industrial warehouse should be the top performing asset in real. And so it's a blend of all four of those assets, and we just approached it saying, Hey, how can we, we're 12, 13 years into this incredible housing cycle.

How can we mitigate the downside risk of loss? In a frothy market where it is so competitive. And so the whole approach is just, Hey, how can we minimize downside risk while still creating a strong upside yield? And we do that mainly through, it's the type of assets that we acquire, as you talked about.

It's always a strong value add approach to that. And it's not just traditional, throw some, lipstick on the pig with some new paint and granite countertop. It's that, but it's also a little more of a a modern approach to it with searching and optimization. Creating a social media presence for the asset.

Adding dog parks, dog spas, shared office space like WeWork space in the multi-family assets. And so just really getting strategic in, in the value add approach. And then last. We only go to markets where there's a strong net positive migration. So you have a lot of people coming into those markets.

So we study that, religiously every month. That's really interesting. You can look at the the U-Haul data and you can see where U-Haul s are going, are being rented, and where they're going to.  and it's pretty fascinating. As an example, if you look at a U-Haul going from San Francisco to Austin, Texas right now, it's four times more expensive than going from Austin, Texas to San Francisco because the flow of the demand.

And so anyway, it's been awesome, man. So we launched our first fund, last year. It's done really well. It's currently overperforming and a lot. We had a second offering, we're actually on our third offering now, and right in the middle of a $40 million equity raise.

And it's been an incredible journey. That's awesome, dude said, I love that. So I ask you that question, Axio, what is it? What does it mean? Because I just preach man and believed in my core that value creation leads to wealth creation. And if you focus on exactly. Zeig, Zig Ziegler's quote, like you talked about, you, we really focus on providing value to enough people that will come back to you.

A hundred fold, man. And that's with your apartment communities, that's with what, whatever assets you're acquiring, right? Anything that you're doing. It's also with everything in our life, man, give freely, this abundant mindset. So I love the name and I love the purpose behind the name. It's awesome.

Thank you. I appreciate that. Yeah. It, I'd say it simply that, dollars follow value, right? And so like when you know young people come and ask me for advice and I keep going to college and degrees and where they should do and how to get into investing, I'm like, Hey, just the better.

The high quality question is asking yourself, how can I create maximum value in the market? Because the dollars will always follow. Value creation. Yep, that's it. That's exactly it. If you focus on that and truly ask those better questions in line with that, bro, growth happens at rapid pace.

Now, I love your focus too, in the direction of what you guys, how you're diversifying your fund. Those of you listen to this. A lot of you guys know that we invest in multi-family. We have a fund, our multi-family fund, we're actually just started our second fund as well. So very similar there, except your fund is diversified over different asset classes within the fund, and I love.

So anybody listen to this? I know that I think it's, you said it's a 5 0 6  so you can't, or 5 0 6 B or no C you said. You got it. Yeah, we can the actual de like the actual specific details on it. But it's we're really excited about it. I think it's a great way to be able to get exposure to mo a lot of different types of commercial assets.

I, lemme say it this way, I used to do a lot of syndications, about a dozen syndications and I love that model. What I learned is as I started to invest in personally into other real estate funds, I fell in love with the fund model mainly. Statistically it's actually 1.7 times less risky investing into a fund versus a individual asset or individual address, and that's really just because of the diversification.

And so to be able to go and diversify across, four different asset types in multiple different geographical locations and states, and that creates a real diversified, portfolio. And so for our partners coming in, with a real equity position in that not only do they get 100% of the tax benefits, so we give a hundred percent of that flows up to our limited partner.

But also, cash flow, everything it's been, anyway I love that model. And secondly, and as you, you know it, it's such a competitive market out there. And so you go into multi-family, we try to we put an offer in, on a deal in Atlanta and there's 62 other offers on a multi-family apartment complex.

But when you come into that situation and hey, we're a fund and we're already fully capitalized, it's a huge leg up in a competitive bidding situation. And then last. syndication I could usually only help maybe five to maybe 25 people coming in as partners. Whereas on a fund, we can go the way up to, 999 partners, and so you can create value for a lot more people underneath this vehicle.

Dude, I love you. The reason you guys created your fund is so similar to the reasons we created our fund, and I love the, you, the word that you used earlier was in such a frothy market, which is I'm still in that shit, dude. I'm using that for sure, , but it does, it gives you a buying advantage going in.

Oh man. And you can leverage that dude. We've been able to uh, take down some awesome deals and negotiate like people think that it's an. It's a yielded out market and that there's tons of competition and it is, and there is, but man, if you position yourself properly like y'all have, dude, it's absolutely.

Very powerful. Another thing, and there's one more big pro to it, which, which was actually a concern for me at the beginning, but in retrospect it's a beautiful part about Ring of Fun. I was always a solopreneur. I, it was always the Dave Alrich show, right? All these syndications.

It's always just me doing it on my own. And I'm somewhat of a perfectionist, little OCD maybe sometimes, but and so having, a bunch of partners coming together, it's basically like a marriage, right? It's a business partnership and I got a long-term partnership. And I was a little bit concerned about that, but it is actually been incredible having partners that are like-minded.

They're, power like dynamic having they're on the same mission that it's a sounding board that I can go and talk to these guys about. They can help me identify any blind spots, any, any landmines we might've missed along the way. And so it's just, I really believe that the best place you can get to in business is when you blur the line between when you're doing business and you're just hanging out with your friends and it's a beautiful mix when.

Really enjoy hanging out and doing business with people that you wanna be doing business with. I often say that who you do business with is who you do life with naturally, right? That proximity, you just end up doing life together. So it's been really fun to actually have a team of some incredible partners that we've teamed up with.

Bro, that's a huge actionable, I, I believe, for everyone listening because. We have, you have passive investors, you have active investors, you have business owners as a whole, and passive investors at your job is to put money into Dave's fund and watch your money grow. Awesome. As an active investor you're taking more of an active role than you have partners that you're trying to bring on and people are looking all sorts of different areas when, and they're worried to do business with friends, family, whoever.

Dude, you spend and it doesn't need to be a current friend. It doesn't need to be a current family member. But I'll tell you this, you spend so much time with those people that you work with, do business with that. Do you know what you wanna know the best way to have a balanced life? Is to freaking do business and work with people that you love hanging out with.

That way you go on a vacation with those that you're working with. You can also get work done and vacation. It's like the best of both worlds. And bro, you have awesome. You have five different like major partners, is that correct? That's right. And they're powerhouse. That's four. Yeah, it was four. Aaron's done probably more deals in Utah, Canada than anybody I know.

Jeremy was, he helped build, a multi-billion, two multi-billion dollar sales organizations, like from the ground up. Adam, our fund president, literally the smartest guy I know at Stanford Harvard, just literally the smartest person that I know. And then we just had another partner.

Join our team about a month and a half ago. His name's Brandon Fugal and he is the number one commercial name in Utah. Hands down, li there's not even a close to a second. And so really honored to have him come in as a partner as well. And he gets hit up all the time to be partners in different deals and, funds.

And this is the first time he is ever taken on a position as a GP and a fund with us. So really honored about that. Just really excited about it. I think you can go fast by yourself, but you can go far as a team. Absolutely. How did you guys find each other? How did you guys form that partnership and who initially founded Axia, and then how did you guys bring in the other members?

Or did that all start at the same time? Yes. No. So I was doing these syndications and as I mentioned, I was starting investing in other real estate funds and I fell in love with that model. But so it was in the back of my mind that I wanted to go into the fun world. And and then Jeremy, who was actually running the East coast for for Vivent Solar.

He reached out to me because he wanted to do the same thing and he wanted to go into real estate full-time. And so we started having the conversation and then, we're like, Hey, we're missing, a few pieces here. Who else can we think of? And then we thought of Adam, and then we talked, I met with Adam.

And Adam was, I fell in love with the concept, but we were still missing some firepower. And so I talked to Aaron, and Aaron was like, I love the idea. And it just naturally came. So we all had previous relationship, like friendships and relationship capital. And had done a few different investments together as, LPs little JV agreements and whatnot.

But yeah, it just, it was just, it was really a natural culmination of these of people that really were already in the same thought process, had similar core values and similar approaches to life. And I'd say similar objectives. What we wanna accomplish. , which is really to make a dent in the universe.

It's not just to make some money together and, it's it's really about making a big difference and our goal is to become a multi-billion dollar, investment firm here in the next few years. And yeah. But I think the key is just finding people that really share common values.

and have the same mission in life, and you find those people you know, and they're willing to put in the same amount of work, that you are and bring that to the table. I see you have to be very careful going to those relationships though, because they are long-term relationships, we're a fi we're you're a fiduciary to your investors. And so it's a long-term. . And so I'd say be very careful and be very selective. I, I feel very lucky that we have compiled the team that we have. That's awesome, man. It's awesome. So you said that you wanna make a dent in the world and I know that about y'all cause I've heard you and a number of your partners speak.

You guys are great speakers, by the way. Awesome. Aaron's a powerhouse. You're a powerhouse. When you say you wanna make a dent in the world, I also know that your motto is, so I wanna know if these come hand in hand. Honestly, this is more of a personal question, but you have your motto I think is that you want ex experiential investing or something I've heard you say.

Is that correct? You got it. Experiential investing. So what does that mean, and is that how you make a dent in the world with what you're doing or are you making a dent in other ways as well? I know it's probably a loaded. No I love that question. Two things. One, for me personally, as I've achieved that financial freedom and time freedom and some things, it's my focus has switched more to one of my primary goals personally is I want to create direct value for at least 10 million people in my life.

And I wanna help at least 1000 people achieved true financial freedom through real. And so that's something I'm personally committed to in terms of our fund, I believe that. So the motto is experiential investing, and what that means to me is, I think that experiences are the new economy.

People want experiences, whether they're baby boomers, millennials, whatever, and they're willing to pay a premium for it. We all want to experience life and have these rich experiences. Everything that I'm doing in business right now is experiential. , you talk about the restaurants that, that that we're developing, dozens and dozens of restaurants that we're involved with.

They're all very experiential. Topgolf is as experiential as it comes when it comes to, entertainment. So with Axia, What that means is every month we have a experiential webinar where we spend an hour with the top real estate people in the country coming on and speaking to our partners, followed by a 30 minute q and a session where they can ask any questions they want.

So that's every single month, every time we close on an asset. For example currently we're closing on a 15 million industrial warehouse here in Salt Lake City salt Lake County. And so we do a webinar, we show exactly how we found the deal, how we underwrote it, the model how we source the debt and our value add plan for the asset.

So it's just full transparency, pulling back the curtains saying, Hey, this is how we do what we do. And uh, can I just, I don't mean to interrupt you, but I just wanna make clear when you say partners, you're not talking about your partners, what we just talked about. You're talking about your investing partners.

That's right. We have hundreds of limited partners awesome. Sorry to interrupt you member. I just wanna make sure that I clarified there. That's so awesome that you guys. You're good. And like we go out and do a site visit. Our LPs, our part, our limited partners, our investors are willing to are always welcome to come out with us and literally walk the asset with us and so they can learn from it.

And so the whole idea is instead of just getting an r o ROI, return, an investment, which is, first and foremost, but it's also creating an R o e a return on experience or a return on education. There's the old adage of instead of giving a man a fish, teaching him how to fish. Cause it's kinda that same concept and it's been received very well in the market.

I don't know any other investment firm that is so committed to educating, teaching and transparency and over-communicating. And it's just been a fun way to be able to create value in a, a unique value proposition for our partners And.  and it's been really fun for me, man, because as a sales leader, what I really missed stepping out of that leadership position and going into real estate was I found myself in my office looking at spreadsheets and doing due diligence and looking online at, different deals.

And I love that stuff, but I miss that interpersonal development side of it as a leader. And so this is a fun way to be able to blend that into a real estate firm and be able create that value for our partners. So it's been fun, man. I'm really proud of it, bro. We're very similar, ma'am. That stuff drives me like real estate is awesome because real estate has changed my life, right?

And literally, I know that's a, like a cliche, but it has man, multi-family. Real estate's absolutely changed how I live my life in the direction that I go and how I view myself, even as a person because it's forced me to do crazy things. But my true joy comes in helping other people, once again, have experiences in life, man, and change their life.

Yeah. The truth is real estate. There's nothing really sexy about a multi-family apartment building, right? It's brick, mortar and glass windows. What's really fun is it's the experience that you can build around the relationships, you can build around that, right? With people that you care about and the value you can create for them around that asset.

Yeah, bro, that's the purpose. The answer behind the purpose. That's such a, I love how you, so first off, Amazing actionables for anybody listening to this. Also, I loved how you said and correct me if I say it differently, cuz I loved how you said it. You said experiences are the new economy. Is that how you said it?

You got it. I learned so much. I learned so much from what you just took and I find myself like wanting to go and take notes right now. But I just try to be like really present, but I literally cannot wait to re-listen to this because there's so many things that I just learned from that little blip that you just said.

Dude, I believe we're missing the boat on and that we can implement to help enhance those who are within our fund and within the things that we do as well. That I love how you, I love how you guys are approaching it and I think that it's it's something that we're missing the boat on. So I appreciate you sharing what you're doing there and how that's going and the impact that it's making.

So being able to impact the lives of others, right? Make a dent in the world. Is there anything past Axia that you're doing personally to make a dent in the. We launched the Allred Family Foundation. Just recently, so all my children, my four kids, their ages 8, 3 16, they're on my board of directors.

And so they just got to choose, which charitable charitable cause they wanna support and I'm really proud of 'em. And so they, they're all employees of my personal real estate business. So not only is it a really interesting tax play with those wages and tax deductibility there, and but it's really a fun way to build able to teach your children, real estate and, and I think the kids learn best through participation.

So instead of me just telling them about real estate or them, ac even watching me, but actually having them involved in the trenches with me. And my son. He'll drive around and look at properties with me. My 16 year old, she she, she's done a few JVs where she owns, a duplex with me right now.

And, she wanted to get a new Tesla model three for her birthday, 16 year old birthday, half a year ago. And I'm like, there's no way we're gonna buy a Tesla. Boy. That's ridiculous. No. And After, weeks of just relentless, pushing for it, which I'm proud of my kids, I taught them that no means yes, but backfires on you as a father.

And so now we have a dog and a cat and all this stuff. I don't I'm not a pet person, but they just wore me down year over years. Hey, we gotta get this dog, gotta get this cat. Anyway so on this Tesla, I'm like, Hey, no, we're not gonna do that. It's responsible. And then finally I'm like, Hey, you know what?

That's not the right message. The right message is you figure out had to get enough passive income to be able to pay for this depreciating asset a vehicle, and then we can talk about it. So she came back to me and she's Hey dad, that cryptocurrency we bought when I was 14. And you know the stock that we bought when I was 15 and cuz she's been working for two years, is she went and got a job and she's very industrious.

And anyway, so we took some of those profits rolled it over into a duplex with me. And so now she hasn't enough cash flow coming from that duplex to be able to pay for. Monthly car payment. She's able to go get the car that she really wanted and have that and she didn't use up her nest egg, right?

She's just using the cash flow from her investment to be able to pay for what she wants in life. And that's a beautiful message. That's really what I wanna be able to, teach other people. And that's how I've been operating the last, 10 years or so, is if I want a luxury item, a new brightling or new boat or something that says appreciating asset.

I've gotta get a new appreciating asset where the cash flow is going to cover that expense. That's it, man. I that is,  What? What? Lucky kids, man. Those are some blessed kids To be able to live in that household and learn from that environment, it's an amazing thing to leg up that you're able to give them, man.

And I know, I don't know a ton about your upbringing, but I know that's not the upbringing that you had. You, I know that you've, you created that, learned that. Yeah. No, we. Yeah we grew up with . That's a whole nother podcast, but yeah, it was definitely kinda a broken home, very low income home.

And I ran away when I was 17 and really just learned a lot of this, on my own. But, we live in the most amazing time, man, where everything's available at the tip of our fingers. We, we have Google, everything. The entire knowledge in  in, in the world is doubling every year and a half.

That's crazy. And it's accelerating so quickly. And it's really just about, in my opinion, it's about keeping a growth mindset and always having the humility to be able to learn more and to never feel like you've made it or, get that chip on your shoulder. And for me, now, a lot of times people ask me a question like, Hey, what keeps you.

Motivated to keep like a growth mindset and to be able to keep pushing to learn more and more. In my answer, I just wanna share it with you because I think it's, it's really made an impact for me is in my, for Dave Ari, my goal is to pursue the best version of Dave Arid and. . I dunno what that looks like exactly, but I'm excited to find out what that is.

And I always wanna be doing bigger deals than yesterday. I feel like if you're always doing bigger deals than yesterday, you're gonna naturally, learn more. You're gonna have progression, you're gonna increase your network, hopefully your net worth, you're gonna have proximity to other people doing these bigger and bigger deals.

And so when I start out doing town homes and. A bunch of four plexes. I, they did, I bought like 27 4 plexes. I love those four plexes. But then went into multi-family and then big multi-family and syndications are now a fund. But it's just always what's next? What's that next level? And I think it's, I found that I'm the happiest when I'm making a forward progression.

and I've, I'm becoming the best version of myself. And, the idea of coasting to me sounds terrible. The truth is you're either growing or you're dying. There is no such thing in nature as just like maintaining or coasting, right? So for me it's always about just pursuing that best version and you know what love the expression.

Always stay eagerly uns. So you're eagerly unsatisfied, right? You're unsatis, you're happy and you're, but you're eagerly unsatisfied to contin, or you could even call it just, curiosity, like curious to find out more, to learn more, and really trying to get to that next level.

Anyway, coming on a rant there, but I just wanna share that. Oh, not a ran, bro. It was a rant, don't get me wrong, but it was a great rant, right? It was a great rant, bro. It's awesome because first off, I love the dad that you, He's a great dad. Because it's hard and I wanna there's so much that I wanna pull from what you just said, , but one thing that I wanna circle back to is you didn't grow up in wealth.

Now you have wealth and you're always grown, cuz it's not, you just get to a point and you just, you're just good. I literally have never understood that it's always growth. But what's hard sometimes, at least for me personally, is. My daughter, I asked for if she asked for a Tesla, my I immediate re knee jerk reaction would be probably the same as yours.

Get the f I drove a Ford Steva for shit's sakes and I 400 bucks and I, get the hell outta here. But cuz that's how I was raised. But you to really continue to challenge yourself as we're growing as individual. To change our perspectives of no, it's okay for them to have amazing things if you show them correct principles on how to actually get those things.

So how do you keep yourself open to or I guess how do you balance this of okay, am I spoiling my kids or am I really creating this foundation for just an amazing life for them? Like, where's that balance? How do you check? And Tyler, that's such a good question. That is literally a topic that I would love, like another podcast on specifically because it's such a big question.

So I'll try to keep it brief here. But my answer is what I say to my kids is, Hey, nothing is given. Everything is earned. And I say that to them all the time, and that's what I want them to learn is, I don't want them to rely on anybody else. I don't want 'em to rely on the government. I don't wanna rely them on it.

They, nothing is given. Everything is earned. And but I do worry about that man, because, I grew up without anything and frankly, I'm very grateful for that, honestly. I'm grateful for the hardships and the challenges and, I could go through this list of like crazy hard things in my.

and I'm not looking for sympathy. I'm actually pr, I'm bragging about it because those challenges make me the person I am today, right? The challenges create, they forge character and they forge strength and it helps us to become stronger men and better people. And so I do worry about, if kids grow up in a place of abundance and they influence and they don't have some of those hardships you look at the Rockefellers and can I study the, prosperity through generations.

and there's a lot of data that shows that usually my, my kids would be fine, but it's actually the next generation that gets really hurt because they don't see those principles. Like our kids can still see the hustle and the work ethic and the and what it took. , but then the next generation after that are the ones that get, can get really soft from that.

And and the Rockefellers are the only one of the only dynasties that have been able to keep that going through the age the ages through the decades. There's a lot of things to that, the way I structure our state, It's all, based on performance, performance benchmarks for them to able to get any capital or any money out of the estate in the future.

They all have to work, but they're all employees and I pay them very well, but they have to actually go and work for it. They all have their employment agreements and they all have, we give a charitable donation of a certain amount on every dollar they earn.  Know, and the kids know that I'm not gonna pay for a college, even though I probably would if they need it, but like they believe right now they're not, aren't paying for college.

So each of their kids, the kids' goal is to own a fourplex before they go to college. They can have that cash flow coming in for that revenue to help pay for their college tuition. But I don't know mean, I guess I'm still working through that. And also Tyler, I appreciate the compliments, but dude, the parenting game's hard man, hard, there's not like a book or like a, a bible on how to be a great parent.

Definitely not definitely could be doing a lot better and working through that. But it's been a fun journey for. Bro, you mentioned right before that success comes down to having this drive always growing, but always knowing that you don't know. You just don't know what you don't know, and that balance of confidence and humility and you just display that with, or just really explain that with parenthood as well, which is why I know you're a successful parent, will always continue to be a successful parent cuz you're dedicated to being a parent, you're dedicated to. Everything that you are as a business owner.

It's what I mean when you're very intentional, right? So these things that you've learned this way that live your life. And how, and I'll of wrap up with this if it's okay, but. Where did you learn these things? How did you learn these things? It was, it, did it just happen?

Was it this trans, this gradual transition? Did you go to classes? Did you read books? What is it that you're like, man, this is where I started gaining traction in my life to be who I am today. There's, that's a big question. I would summarize it with these thoughts when I was growing.

And, it was a really rough kind of upbringing and I don't blame my anybody for that, but it just is what it was. I made a commitment was a teenager, Hey, I was gonna do whatever it takes to reset the standard. And to change all of this and that I would I committed to doing whatever it whatever it takes to win and to reset the standard and change the game going forward for me and my future family.

I didn't know what that actually meant exactly. I just knew I had this burning commitment. Like I will do whatever it takes to figure this out and to win and So when I saw the opportunity to go out to ourselves, that's kinda what drew me to this is an opportunity to get ahead and learn some things and some capital, and make some money here.

And and I think, ed Millet talks about it beautifully, how in every family there's the one, there's the one person that has the ability to change everything, to change the game for all their future generations and their posterity. And that one person is, it's a heavy responsibility, but it's a beautiful responsibility.

And I, I think that really resonates with me. It's something. . I think I've taken outta on my shoulders to be the one that's going to cha change everything. And it takes a lot of work and sacrifice, but at the end of the day, it's been real. The fruits of my labors have started to show up, show a little bit, and it's been really fun, man, to be able to see, impacting a lot of people and creating value for them and, including my own family.

And I think that's probably at its core what fires me up is trying to be the one to.  to make that that, that difference, bro, that answer is such a great answer man, because what I've found is the most successful people that I've ever studied, the in, in individuals who have made the biggest impact.

Cuz that's really how I look at success. Is the impact that you're making, not just in your own life, but in the lives of others have this unique ability to take on responsibility for others. That's really what drives us. Like you can't see this cuz it's behind my head. Dude I have Ed's book here.

I'm, part of his, rte I, he spoke at our event last year. I saw that you've done some stuff with him as well. It's one of the best books that I've ever read, and it was definitely one of my top from last year was the Power of One More. And the minute that you said I just want to, I just want everyone listen to this to really hear what he said.

I, because I asked the question.  in a way of, Hey, did you read books? Did you do this? Did you take a class? And it was, no, I made a fucking commitment that when I was in my teens, that I wanted to change the financial narrative or just the narrative, whatever that means for my family. I didn't know what that meant.

I don't know what that even mean meant, meant at that point. But I knew that I wanted to change it. He took on a responsibility that elevated himself to where he is at now, and I know that you're doing the exact same things now where you're taking on these responsibilities to elevate. Love that.

And I just wanna add on to that, now that we talk about Ed Myla a little bit. I was at dinner with Ed Myla and Andy Priscilla probably almost two years ago now. And Ed said something really powerful. He said, Hey Dave, you know what the difference is between who you are today? You're going to be 12 months from now.

And I'm like, what? And he goes, three things. It's the books you read, it's the podcast. You listen.  and it's the people you surround yourself with. And when you said that, I was like, okay, that's pretty basic. I get it. We're the average of the five people we spend our time with. But the more I've reflected back on that, it's really powerful.

That really is what you know, affects change in who we are. It's what we put in, it's the people that we surround ourselves with. There's power in proximity, like being around the people that are doing what you want to be doing. There's so much power in be able to not just to see that firsthand, to be able look at them and then wire their eyes and okay, hey, if this guy can do.

I can do this. It can't be that hard. And so that's huge. And then last session, you wanna mention, talking about kinda what makes change in our lives. I think a lot of people, especially right now around, the new year, they get very focused on motivation. Like, how can I be motivated to do this and to read and to change and personal development.

I've found that motivation is just an emotion and it's fleet. Motivation is very fleeting. It's short-lived. I think what really is more powerful is identity. It's who you identify, like what you identify, that you, who you are and who you're becoming, right? So if you identify, say I'm gonna be the one, and or winners win and I'm this, and then your behavior and your actions and your mindset will become more aligned with that identity.

Way. And that's a much more powerful influence than just how you feel, your motivation level that day. God, bro. Rewind everybody. Just put your car in Park. Rewind. Re-listen. That is, So good, man. It is, and it's, most people I believe, don't know what their identity is, so it's not that they're unmotivated, it's that they're uncertain of who they are.

So they don't know where their motivation should go to. But how you just said that, that motivation is an emotion that is fleeting because that's how all emotions are. No emotion is constant. It's just not, you don't have an emotion that's constant. That is, that's not, you would never gain broth that way Anyway, we have these arrays of emotions, but your identity.

even though your identity is gonna continue to enhance, dude, that is gonna govern your behaviors into everything that you're doing. And man, you, you do that motivation's easier at that point. Because you're, dude, you're just certain in the direction that you're going, man. It's your identity. I love that, man.

Thank you for rambling on that. Yeah. Then the questions like well, how do you upgrade your identity? And I think that the, for me at least, it's been this thing I call lifestyle design. We probably don't have time to dive too far into that, it's basically this template for my life and it's got these 10 different areas that I wanna be great at in my life.

And it's all in writing, so it's like a chapter. My health, my time, my purpose statement, my family, finances, business, spiritual relationships, experiences, and it's all in writing. Pretty detailed out, like exactly how I would define a life well lived in each one of those categories, and having that true north, having that clarity.

It's really helped me create, to, to orchestrate like, what exactly is this identity? What exactly is the destination that I'm working towards? And that's another topic from our day. But but that's, I would love, no. So lemme just wanna clarify and then I'm gonna, cause I wanna be respectful of your time.

So you have these 10 different areas and you have written a chapter on what that looks like underneath each of those areas. Is that what you're saying? Yes. God, dude, I love that man. I would. I love that. I do know how Tyler, I would actually I'm happy to. So I made it for me personally, right? It was never meant to be shared or anything, but I have shared it now with some people, some close friends, family, and a few different groups.

Now if you and any of your listeners want a copy of that, I'm actually happy to share it with you. If you just want to send me. Dm on my Instagram, Dave Allred or Facebook should be pretty easy to find just your email address and ask the lifestyle design and I'll have my assistant. I send over a copy of that, and you're welcome to edit it and just tweak it however you want to.

But for me, that's been such a valuable thing in my life, to be able to have the confidence and to be bold and to be able to be more aggressive in business and just in life in general. And even an ave You mentioned adventure, right? Like I'm big on experiences and adventure to me like that's. I have to mix in a lot of adventure, whether that's, Mount Everest or, skydiving or traveling the world, 56 countries.

To me, that stuff really motivates me to be better in business. And it really fi, it gives me energy and it fires me up to be my be best version of myself. And so I think that, but again, I have, so one of my my, my 10 sections in lifestyle design is experie. Have a bucket list. It's actually like 200 things deep on there that I want to, I wanna accomplish my life and experience.

So bro, anyway, happy to share that you guys dm we're being willing to do, man, like it's fu funny. To wrap this up full circle, one of the first questions I asked you was Axian, what does it mean? And you talk about value and anybody listening to this, if you don't think that this dude lives, eats, sleeps, breathes, everything that he's talking about, just think about what he just did there.

Hey man I don't really share this, but if, , he saw my excitement, right? And he is okay, so if that's something that people would be interested in, hey, hit me up here. I'll send it over. Value, dude, that's value creation. But you're a stud man. I appreciate you taking the time to be on here to spit knowledge and share your story and the wisdom that you have.

Man I'm excited to get to know you even farther than this, but I'm start excited to freaking re-listen to this thing, bro, so I can take some notes on this. Yeah my, my pleasure. Let's do it again sometime. Absolutely. Anything else that you wanna say as we. Nah, ma'am, I appreciate you and I'm excited for you, man.

I didn't know you were running a fund as well. I'd love to compare some notes on that. And again, I think multi-family man, it is the best place to be parking money. I think that, multi-family to me is. Man, that's a whole nother topic too. But , I love multi-family and I love that you're in that space right now.

And I think that again, it's not only just the best place to create, wealth and tax deductions, but like generational wealth. Yeah. It's the consistency of the mailbox money from that. It's been really special and, it's really blessed our family and a lot of people, a, our investors are partners.

So props to you Tyler for that and also for sharing the message and creating value for your audience. Dude, Dave, thanks so much, man. For all of y'all who are listening to this dude, go follow Dave. We'll put all of his social links in here. We'll also put the link to his website. You can hit him up about his fund and the diversification that they have there, which is awesome structure that they have.

You absolutely should hit him up and take a look on about that and investing in that. And yeah, man, just hit him up and follow him, man. He's a wealth of knowledge. So Dave, thank you so much, bro. Appreciate you. Everyone out there. Go rate, share, review. And live always with Loha Peace.