WS1306: How Long-Distance RE Investing Works | Billy Keels

Have you ever wondered if it’s viable and sensible for a US citizen living overseas to invest in US real estate? Yes, you can absolutely invest long distance in US real estate and it’s not as risky as you think, says our guest today, Billy Keels, founder of First Generation Capital Partners.

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Billy, based in Barcelona, Spain after sojourns in France and Italy, has been investing long distance in US real estate for almost a decade now. He started actively investing in rental properties and then went on to passively invests in multifamily and other asset classes. In this episode, he talks about his overseas investments and reveals the critical elements when operating and investing long distances. Click now and learn more.

Key Points From This Episode:   

  • Billy’s professional background in the IT industry took him to various parts of the world and now settled in Spain.
  • Why Billy ventured into real estate investing while keeping a high-paying corporate job.
  • Billy’s investments in the US real estate market from Europe for the past nine years starting with active investing and then passive investing.
  • What pushed Billy to leave his high-paying corporate profession for a full-time real estate investing career?
  • Billy details his initial long-distance real estate investment and the challenges of operating the property.
  • Billy’s realization of the most critical element when operating and investing long distance 
  • What would Billy do differently with the first investments if given the chance?
  • What is ROS and why for Billy it’s an important metric to measure?
  • Why venturing into investing is similar to solving a problem?
  • Billy shares the positive life changes he experienced when he transitioned to full-time investing.
  • Why Billy chose to invest in other asset classes: ATM machines and carbon-capture machines.
  • Where Billy finds new investors and the metrics he tracks
  • The daily habits that contribute to Billy’s success and his way of giving back

Tweet This!

“When you are 300 miles away or 3,000 miles away, you need a really, really strong team.”

“That is one of the big keys to being successful investing long-distance – making sure that you take the proper steps and show your team that you’re interested in building them and actually follow through with making purchases.”

“The ROS is the ‘return on sleep’. If we would have had more adequate reserves, my ROS would have been positive, and I would have slept better at night.”

“Being much more intentional about what I’m doing, with whom I’m doing, and also being very present when I am doing those things.”

Links Mentioned in Today’s Episode:

Billy Keels on LinkedIn

First Generation Capital website

Going Long Podcast on Spotify

Going Long Podcast on Apple Podcast

SAVER by Hal Elrod

About Billy Keels

Billy is a regular guy from a middle-class family from Colombus, Ohio, who grew up knowing nothing about investing. He gave himself to the challenge of learning everything he could about all things money and investing. Today, he guides others on their own path to financial freedom through strategic direct investment opportunities via his company,  First Generation Capital Partners.

Full Transcript

EPISODE 1306

[INTRODUCTION]

0:00:00.0 

Billy Keels (BK): I was in the corporate world and I had these negative experiences with paper assets and so I just needed more control.  The friends that I have here say, why don’t you invest in the United States. I was like – Why? There’s like 7- 8,000 miles between here and where I’d buy my closest property, the Atlantic Ocean is between us. But the thing is, I knew I wanted to take action and there was time to take action. I had money in the bank. The thing is, I didn’t even know how to pick a location.

0:00:25.7 

Whitney Sewell (WS): What excuses do you have for not getting started in real estate? You’re probably in the US or maybe not but either way, our guest today is gonna help you to change your mindset about how you can do it. He lives in Spain and built a portfolio in the US that allowed him to leave a very high-paying corporate position. Now, he gets to enjoy the time freedom to be with his wife, his kids, and do things that he never dreamed about doing. His name is Billy Keels. He’s a regular guy from a middle-class family from Columbus, Ohio. He grew up knowing nothing about investing. He gave himself to the challenge of learning everything he could about all things money and investing. 

Today, he guides others on their path to financial freedom. Billy’s gonna go through numerous things about his process of investing long distance and how he made that happen. He’s also gonna share some of the wins which I think is encouraging. You can make it happen. You can do this from a distance even. He’s out of the country and he still did it. He’s also gonna share or expose to you a couple of asset classes that we’ve not talked about on the show, partly at all. One of them, probably once or twice, the other, maybe not at all, maybe once. So, I’m excited for you to learn about these other asset classes that I want you to start being aware of, in case it’s gonna benefit you in a massive way on the tax side, potentially on a cash flow as well.

[INTERVIEW]

0:01:44.2 

WS:  Billy, welcome to the show. I’m excited to have this conversation because I know some things valuable that’s gonna help the listeners in a big way. I feel like your story should motivate all of us to really get off our tails and go make it happen. It’s so interesting and congratulations on some big changes you’ve made. I know we were gonna talk about it in the show. But it’s because of these decisions that you made, the hard work that you’ve put in, and I know personally it’s not just you but it’s the entire family, your spouse, your wife, I mean, the time commitment to make this happen. Welcome to the show.

0:02:13.6 

BK: Hey, thanks so much, Whitney. And I really am feeling just a bit overwhelmed. I’m so fortunate to be here to share the stage with you and it’s great to be able to a little bit of my story with you and your audience.  And also to you, since you were kind enough to be one of the first to join me on my podcast in episode 96 which was fantastic. I just can’t thank you enough for joining me. They’re on the Going Long podcast as well. Thank you.

0:02:33.4 

WS: I appreciate the kind words. Tell the listeners where you live, and tell us a little bit about your real estate portfolio so they can have an idea of what you’ve accomplished and how they think they had a bit of difficulty. But anyway, I wanna get into some of those difficulties about how you’ve done this.

0:02:48.9 

BK: Yeah, sure. So, as you know, ’cause the secrets already out with you, so originally from Columbus, Ohio. And I’ve moved around a lot as a kid, but ultimately, after having been the product of divorced parents and both the parents were blue-collar, very blue-collared jobs. I had a chance to work and travel throughout some 58 countries right after college. It’s now 86 countries. And as you know, I’ve spent the last 21 years living in Europe. Today, I call Barcelona, Spain home. I lived in Italy before that, and I lived in France before that. I was in the IT industry, and I have recently also no longer part of the corporate world. I retired in my late 40s after 26 years in the corporate world. And yes, I’ve been investing in US-based real assets from Spain since 2013. 

0:03:34.1 

WS: Nice. So, you’re in Spain, and you’ve traveled to 86 countries. There are some skills around traveling that much. I wish that I had but I have to call you to figure out what countries I wanna go to or not.

0:03:43

BK: I’ve made lots of mistakes, let me just put it that way.

0:03:45

WS: But you’ve built a portfolio in real estate while living in another country and obviously traveling a lot. You’re in the corporate world. Speak to the portfolio you have now, and let’s get into a little bit of how you did that being so far away. Obviously, if you can do it from Spain or from another country, I should be able to do that sitting in Virginia. So, speak to that.

0:04:05.0 

BK: Yeah, sure. And I guess one of the things that happened is I never really even thought about getting into real estate. I didn’t come from a real estate family or any of that kind of stuff. But I had gone through the ‘2000 dot com bubble’ and I went through the ‘2008 great financial crisis’. And in 2008, it was actually the second time that I’d lost some substantial amount of my portfolio. I actually lost 33% of my portfolio, Whitney. My parents always told me, “if something happens once, shame on them. If that happens twice, shame on you”. And so this was the second time that I lost control. I started reading books, “Rich Dad, Poor Dad”, and all that kind of stuff. I watched a bunch of videos and listen to podcasts. But it actually took me about another three and a half years to actually take action. 

The reason I took action would need to even start getting involved in real estate is because I remember, it’s one of these things that are kind of left me marked for the rest of my life. I was a young father and I told myself that I really wanted to be present for my kids and I thought I was. Then my son, my oldest son’s third birthday, I woke my wife and my son up about 5:45, 6 o’clock in the morning. Woke them up because I was actually taking a flight to Frankfurt on my son’s third birthday. And so I woke them up because I wanted to give my oldest son a hug and a kiss right before I left. When I left that morning and I left our flat and going down to the airport, my heart kind of broke because I was thinking to myself, hang on a second, I’m doing all this stuff, I’m moving up the corporate ladder, and I’m missing my son’s third birthday party. So, that night – and I tell this every once in a while – I don’t even remember what the business meeting was about. I just remember being at a dinner that night and my family, with my in-laws, and my wife and my two children, and they’re blowing out the candles while I was at this dinner. 

And so that made me go from theory to action. I thought about buying property here in Barcelona. I wasn’t sophisticated enough at the time Whitney. I need to understand the difference between a location that is appreciation-based and others that are based on cash flow, etcetera, etcetera. And so when I started pinning things out, the numbers were negative, negative 50 euros, negative 200 euros. And I couldn’t understand it. So, being a US citizen who actually lives abroad, a couple of my friends here in Spain were like, “Why don’t you buy in the United States?” So, I eventually ended up buying in the US. I built up a portfolio of about 27 units initially. They were small multifamilies and I bought a mobile home park, and then I went down.

0:06:07.9 

BK: I started in real estate that way, and I’d been doing this for probably about two years or so. It was amazing cash flow. I just didn’t have any systems. Things were happening, things were breaking but the cash flow kept coming in and I just had to stop. And it was at that point that I also found out that there was another thing called passive investing. I was like, “Oh my gosh, you mean I can actually give somebody $2, $300,000 and they’ll do the investing for me?” So then, I went from active to also combining passive investing in doing that and being able to build up the portfolio. I think I’ve invested over 450 units passively, something to that effect. And gotten into ATM machines and also equipment and things like that. But the initial start was because I wanted more control and I’ve been reading so many books and I needed action. Unfortunately, the action was me missing my son’s third birthday. But that actually got me started and it got me to the point where at least when it was time to leave the corporate world, I didn’t have to really look back and say – hey, I gotta go find my next job. Now, I’m at the point where I just wanna be able to serve others and do it in a way that makes the most sense for me and for my family. And I just feel very, very fortunate to be in this situation.

0:07:09.4 

WS: Often, it seems that there’s some kind of event like that that opens our eyes a little bit. It’s interesting too about, you mentioned missing your son’s third birthday party and you don’t remember what the meeting was that you’re in. But man, you remember that moment. You remember missing those candles being blown out and you can’t go back and redo that. It hits you right in the chest. It pushes you to make a change. You started looking for ways to fix that problem, that time freedom problem ultimately. Speak to the long-distance investing. Let’s dive in. You started making it happen. How do you do that? How did you start communicating? How did you find the first deals?

0:07:48.9 

BK: So the very first deal, one of the things that I knew, I was in the corporate world and I had these negative experiences with paper assets. So, I just needed more control. As I mentioned, the friends that I had here were saying, just invest in the United States. And I was like, Why? There’s like 7, 8,000 miles between here and where I would buy my closest property. The Atlantic ocean is between us. But the thing is, I knew that I wanted to take action. And it was time to take action. I had money in the bank, and the thing is, I just didn’t know. I didn’t know how to even pick a location. So what I did is – I say that it was really based on fear – if everything went wrong, I wanted to have somebody at least close by that I could say to, please go buy and bail me out of this situation. So ,I ended up buying in the East Coast. I bought in New Jersey. And when I bought the property, I didn’t even have — I didn’t know anything about lending, I didn’t know any of that kind of stuff. I read the books but I didn’t have the real knowledge. So, I was introduced to a number of people that were in the lending space and found one person that was a lender at a local bank, and that lender walked me through the different lending options. It ended up, it was very traditional.

0:08:48.5 

BK: I put 25% down, bought this property, and they introduced me to a general contractor. The general contractor then introduced me to someone who was a real estate broker. The broker introduced me to the agent, and then from there, it wasn’t even any more sophisticated than that, Whitney. It was just a matter of getting those three members on the team and then buying the property. I think I put $20,000 into the property. We got it fixed up and we got it rented. But from there, what I started realizing is, I bought the property but I didn’t really have a team in place. Then things started happening, things started not working properly at the property. And I didn’t have any system. Just a very practical example, when something broke and the tenants wanted to call, they didn’t have anybody to call. And so, I realized that that was a problem. 

So, we had to fix that problem and that meant putting in an answering service. This answering service was 24 hours, seven days a week. That was one of a very tactical thing but that was one of the types of systems that we put into place. And what I realized is, I did everything backwards. I bought the property, problem started happening, then put the team together, and then from there, I realized I was in a location that was maybe not the best. But I did know the one thing, which was cash flow. So nowadays, I try to help people. I know it’s very similar to what you do, help people to get really clear on what it is they want, more importantly why they want it. That’s the benefit from there. Find the location that can give you the highest probability of being able to get that outcome, then build your team.

0:10:05.0 

BK: You build the team because that’s the most important part, especially when you’re someone who’s long-distance. When you are 300 miles away or you are 3,000 miles away, you need a really, really strong team. And then afterward, whatever the opportunity is – I mean, it matters but it doesn’t matter – because whatever asset that you’re bringing into the portfolio, as long as the team understands it and the benefits that you’re looking for, they understand the location, then you’re putting yourself in the highest probability of success. So, that’s really kind of how it got started. Why I think from a long-distance perspective, the team is absolutely critical. And it’s also being able to build the team and taking the steps to show your team members that you’re not just making a one-off purchase but you’re really there to build relationships and also make purchases. Which means starting out, you may start out having an email conversation, afterward, you’re gonna maybe jump to a Zoom. 

You’re gonna get on a phone call. But eventually, Whitney, I’m a big believer, and this is what I have done – you put your money where your mouth is. I wasn’t just trying to meet people on Zoom at a certain point. I wanted to go deeper into the areas where I was investing. I actually got on the plane and I flew, met the teams, walked the properties, saw the places that I wanted to invest, and that is one of the big keys, I believe, to being successful investing long distances – making sure that you take the proper steps and show your team that you’re interested in building them and then actually follow through with making purchases, and that’s active or passive.

0:11:19.4 

WS: You know, I’m gonna ask, knowing what you know now, what would you do differently? I know you would have had the processes, the team, some of those things in place beforehand but what are a couple of things that’s like – if I had done this or if I had had this person in place or this team member or this process, this first few deals would have been so much easier?

0:11:35 

BK: So, there are two things that stand out. Number one is making sure that the team that is going to manage the property on a day-to-day basis, it’s fundamental. It’s absolutely critical, especially if you don’t live in the same location, because at the end of the day, we provide a service. And if you have a product with no service then it’s not a very good service. That’s the first thing I would have put more focus on initially because that’s now where we put a lot of the focus on, the service aspect. Secondly, without a doubt, I would have made sure that I had much more in reserves than I did at the time. Especially when you’re getting started, depending on what type of property you’re purchasing, what type of asset you’re purchasing, things can look really nice in the beginning. But eventually, things start to happen, and if you don’t have the proper reserves, you can find yourself in a pinch.

0:12:19.6 

BK: Now, we never got into any trouble with the reserves but definitely would have more reserves just so it can help you to even sleep better. It’s the one metric I say, nobody talks about, Whitney, which is ROS. I think everybody talks about IRR, we all talk about COC and cash on cash and stuff, but no one talks about ROS. The ROS is the ‘return on sleep’. If we would have had more adequate reserves, my ROS would have been positive and I would have slept even better at night. So, those were the two things that I believe if I were to do differently, I would definitely put more focus on service and make sure that I had more reserves to make sure that my ROS was positive.

0:12:52.9 

WS: I love that. I love the ROS. I have not heard of that before, that’s clever. It’s so important. If you’re not sleeping well, the return on your investments is almost irrelevant, right? 

0:13:01 

BK: It does not matter. I always tell people – Hey listen, you want 300%, 400% return? Well, sure. But is your ROS positive or negative? What? Your ROS? I’m like, are you gonna sleep well at night? Ah, probably not. Okay, well if the ROS is negative, don’t do it. Doesn’t matter what the yield is now.

0:13:15.5 

WS: So, how did this help you leave the corporate world? You dove into real estate investing. You started learning some of these things the hard way. You started building that team, you came over to the US which no doubt was a crucial move, meeting that team, seeing the properties to market. Speak to the transition to leaving the corporate world and knowing that you can continue this.

0:13:32.6 

BK: Sure. So, one of the things that happened when I started to invest in real estate, it just opened my mind. When you were in a corporate construct – and I was a relatively senior executive and was able to continue to move and rise within the organization, and I actually kind of fell in love with that for a little while – but what I realized was it was kind of one track. I didn’t have time to do anything else. That’s what I was doing then. When the thing happened with my son, it opened my mind to say – okay, well, hang on a second, I don’t want to just…this is not the route for me. I’m not going to be doing this forever. And so I needed to figure out something else. So, fortunately for me, real estate came into view and I had a positive first experience. But once I started having that experience and the experience became more and more positive, not all positive because I had the $25,000 roof issue and I had other things that were happening on the property. So, it wasn’t all positive, but overall it was positive. Then, that opened my mind to continue to build more relationships with people in that space. As I started to do that, as I started to travel, as  I started to meet, what it did is it said, okay, well, this is something that I wasn’t aware, this is providing me that outcomes that I’m looking for. 

So, let me look at something else. And so as I started looking at other different assets that fit in with what I wanted from a benefits perspective – maybe more cash flow, maybe more tax benefits – it made me realize, that it’s just about solving a problem. And so that for me was perfect because I’ve worked in sales, leadership, and sales in an enterprise software company for the better part of 20 years, overall 26 years in the corporate world, but I didn’t realize that, hey, I just need to solve a problem. And this was solving a problem. It started with the real estate, it moved into other assets, but it’s always been about being able to solve problems. That’s the biggest benefit for me, for anyone who’s been around, and not even for our investors. It’s given me a thought process of more – what is the problem we’re trying to solve and how can we go about solving this problem? There are so many different vehicles that will help get us to whatever destination that we’re trying to get to. That’s really what it was.

0:15:26.2 

WS: Speak to how this has evolved over your real estate career now. Obviously, leaving the day job is just such a massive change, right? And I’ve seen it happen in myself, my own family, and others as well. People, they’d make it or they get to that level. It’s like, okay, it’s difficult because it’s such a big change. Am I really gonna do this? And even others, maybe your friends you’ve had a long time question you on all those things. But speak to that transition now. The quality of life for you, your wife, or kids compared to now that you know that it’s so worth it to make this transition.

0:15:58.2 

BK: Yeah, sure. So one of the things that happened as I was going out looking at different assets and helping to solve different problems, and I saw the passive income problem, I saw the tax problem, and then there was the different or the, you’d say before, your passive income, your earned income and being able to solve these different problems. Then it got to a point where I had a real-life situation happen. And I don’t know if I mentioned this to you before, but my father had some really significant challenges health-wise in the last part of last year. And that really made me think. When you’re there and you’re in the ICU and you’re thinking yourself, I’m actually been working for nine years. I’ve been excelling at my day job. I’ve gone to the President’s Club or whatever the equivalent of that is, and I’ve been in the top talent program, and I’ve been doing all of these things excelling at a high level, doing the work outside of office hours to build the runway for my family and I through investing in other different types of real assets. And then it got to the point where this is now a day after no longer being in the corporate world, and so I was very fortunate for the work that had been done because my first thought was not, okay, well, I wanna make this change because of what’s happening in life. I didn’t think this is just gonna be a break, and then I’m gonna go back and start looking for my next software sales job.

0:17:04.5 

BK: Fortunately, because I’d been doing a lot of the work, it was now the point of what are we gonna now do to enjoy the quality of life? To be able to continue to go out and then serve our investors to help them get the things that they want and really be able to enjoy life? And so one of the first things I wanted to make sure that I was doing was really being in control of my time. Maybe I talked about this a little bit, but one of the things that I have to fight against now is that I really love what I’m doing every day. I love it. It is just thrilling to think we’re building this business, we’re serving our clients, our investors every single day, and we’re still starting up. And so my big thing is to make sure that I’m not continuing to work into all hours of the night because it doesn’t feel like work. I’m loving what I’m doing, I’m building. And so it really helps me also to focus on the things that I wasn’t doing because when I was traveling working for a big corporation, I was always focused on where is the next destination? The next big contract that we have to sign, the next quarterly business review or, and what’s the action plan? And so today, it’s about making sure that I have time to spend with my wife. My wife and I went to lunch today and it was absolutely phenomenal in the middle of the week and we just had a great time. We talked about what we plan on doing this summer. It was amazing. I spend a lot of time now playing video games, Whitney, with my kids. My boys are young, they’re 10 and 12, and that’s one of the things I never did because I always thought, well, playing video is a waste of time.

0:18:21 

BK:  We just need to do this or do that. But the fact that we can play video games together and it’s interaction, they’re beating me, so they love that, of course. It’s just so much but I’m just, I’m enjoying those moments. I flew back to the States just to hang out with my dad and my step-mom and mom for four days because I found a great ticket. It’s making sure that I am present now and being able to enjoy the moments that I have because we’ve got two young boys, and before I know it, like a 12-year-old and six more summers, he’s not gonna be home with us anymore. And probably sooner than that he won’t wanna be but he will be with us and just doing the thing. I’m spending time with our investors as well. Understanding more about what it is that they want to be able to achieve what they’d like to be able to do. So, it’s being much more intentional about what I’m doing, with whom I’m doing, and also being very present when I am doing those things.

0:19:06.7 

WS: I just appreciate you sharing some of that ’cause I think it’s just great for the listener to know, this can happen, it is real. You do have to put the time in, no doubt about it, to make that happen, but man, just the quality of life change that most have never dreamed of, or think it’s even possible. But you’ve made some different directions that you’re investing has taken in different asset classes that I would like for you to highlight. Unfortunately, we don’t have a ton of time, maybe we can have you back and talk about these a little more. But I want the listeners to be exposed to these two asset classes more. I’ve briefly heard them and learned a little about them from some of the same people that are doing some of this. But I want them to know about these two asset classes that you have entered into, and why.

0:19:44.7 

BK: Yeah, sure. So the first one, I think that goes just beyond real estate, but still, a real asset, was investing in ATM machines. Once again, everything is when I’ve taken a step back with me, it’s really about what is the problem that I was looking to solve. Real estate solved a real problem for me and continues to solve a real problem for me as it relates to passive income. The same thing with the ATM machine that was creating a more consistent income stream because of this particular deal structure. And that was something that was fantastic for me. It was also I wanted to taste what it was like to invest with someone else. Being able to place, as an accredited investor, capital, and let them do the work. I could continue working my day job. And then the thing that was also happening was I was someone who was not a real estate professional and was someone who was a highway journeyer. I was an accredited investor and making really big bonus checks. I was still, I was investing passively, the passive income from the real estate was helping but I was still paying 40 plus percent in taxes.

And so that was on my W2 income. I was looking for a way to solve that challenge as it related to W-2 income because if I could extract some of that capital from paying in W-2 income taxes and that’s other funds that I could then redirect into more passive income. And as you know, Whitney, we’re not giving anybody any advice or any of that kind of stuff, we’re just talking about concepts but these are the things that the other two asset classes that have helped me, specifically, the investing in carbon capture, carbon capture machines in the energy sector that really helped me with the tax problem that I was having in W-2 earned income because I was not a real estate professional. It was a way for me to extract a capital there and then be able to use it and re-deploy it into other types of investment opportunities. So, those are the two things – ATM that helped me have more frequent streams of passive income, and then the carbon capture machines which was helping me as a highway journeyer accredited investor with the tax brackets that I was paying an earned income. So, hopefully just in a really high level that makes sense and why I was looking at those two other assets.

0:21:38.2 

WS: I appreciate the explanation of why and I know the listeners have heard of ATMs before, probably used one before, most likely, but carbon capture, something we’ve not heard about, or most people have not heard of much. If at all, give us the 60-seconds on what is that? What am I actually investing in?

0:21:55.9 

BK: Yeah, sure. So, a lot of people, I’m sure, are familiar with the different bonus depreciation rules. And depending on when they’re listening to this, as we were talking about it today, the bonus depreciation rules are 100% of capital that’s invested. Of course, talk to this with your tax professional and they can tell you about your specific situation but purchasing large pieces of equipment that help in the increased production of oil and gas and energy sector. We’re investing in these pieces of equipment because of the way that this particular opportunity is structured. What it allows someone who is an accredited investor to be able to do is invest in this piece of equipment as they invest in a piece of equipment, a 100% of their tax bracket, at least as of today, and it may be changing depending on where you are, you’re able to reduce that, deduct that from your earned income or your W-2 income. For someone like myself and a lot of people that were in the software sales space was another way, once again, to be able to extract capital to then re-deploy into other types of assets. So today, the type of person that we’re serving is an accredited investor. We have people that are high-wage earners, people that are in professional sports organizations, doctors, lawyers, and people that are looking to be able to keep more of their earned income or not pay so much in high-income tax.

0:23:04.6 

WS: No doubt it’s something that many listeners, I’m sure, especially the passive investors who are our high-income earners, they should consider looking into some operators around that and carbon capture and ATM. Billy, just to move to a few final questions, speak to your best source for meeting new investors right now.

0:23:20.3 

BK: Well, there’s two things. There’s the volume of investors and then the best source in terms of being able to meet is actually from our existing investors. Typically, they’ve already told the individuals that they already know, like, and trust why we should be speaking and so with that introduction, it’s much warmer. I would say, without a doubt, for people that I’ve never met before, it’s being able to have conversations like these with you, where we’re meeting other people that are interested in solving a very specific type of problem. So, I would say they’re the two kinds of ways.

0:23:49

WS: Is there a way that you nurture or encourage their referral process?

0:23:54

BK: This is something that we want to get better at. Because the way that it works today, Whitney, is very much just letting our existing clients or existing investors know. One of the things that we are working on is improving that from an automation perspective. But today it’s very much word of mouth and it’s very much our existing investors telling others. 

0:24:13.6 

WS: What are some of the, maybe one or two of the most important metrics that you track?

0:24:17

BK: Today, it’s just number of referrals. What we’re looking at more now is, what is the value versus volume? Just because of the nature of our business. So number one is referrals that are in. And number two, the thing that I’m personally tracking, is the number of engagements that I’m having like this to be able to come to the marketplace and tell people what we’re actually doing. So, those are the two main things that I’m looking at, not on a day-to-day basis, but on a weekly basis.

0:24:42.6 

WS: What about some daily habits you have that have helped you achieve success?

0:24:46.6 

BK: I start every morning by myself, Whitney. I start every morning when I found probably five years ago, Hal Elrod and the SAVERS. So, I start every morning with the SAVERS with silence, affirmation, visualization, a bit of exercise – I’ve got a bad back right now so I’m probably doing more push-ups and I would like to be running. I like to read and then journal. And so that’s the way that I like to start every day because if I can focus on myself, then I’m able to be the best me for everybody else that’s around me.

0:25:12.9 

W2: How do you like to give back?

0:25:13.9 

BK: Right now is being able to give time and really being able to help others especially people that are in my situation. I was an accredited investor and I didn’t know about it, and I like to be able to share the knowledge that I’ve learned. Financial knowledge is the way that I like to give back. One of the things that my family and I will be doing this year is actually giving of our time here in Barcelona at a local school.

0:25:36.1 

WS: Nice. Billy, it’s been an honor to have you on and just to catch up again, it’s been a while. So honored to hear more of your story and really share with the listeners. If you can do this from Spain, I hope if you’re listening to this in the US, you have no excuse. No excuse. You can probably drive a lot of markets where you could start doing deals. Billy has come a long ways, a lot further than that to make it happen and build his team. Think about those difficulties and the time differences but he’s had to work through that. We don’t have that problem if we live here. So I just appreciate that Billy, even exposing us to the other asset classes, ATMs, carbon capture. Maybe we can talk about that again in the near future because both of those things we don’t talk about much but people are syndicating those assets as well. And so I love exposing our network of active investors, also passives that these other opportunities are out there. Thank you again. Tell the listeners how they can get in touch with you and learn more about you.

0:26:27.2 

BK: Yeah, sure, Whitney, I appreciate the opportunity. I think everybody here that you make, yourself and your team, very available, so they have a great first stop in you and being able to learn more and access new types of opportunities to expand their mindset. For those of you that wanna find out more, Whitney, we just released our new re-brand, so you can find out more, especially if you’re that accredited investor that we’re talking about before and you have the earned income challenge, you can go to FirstGenCP.com/invest The website is FirstGenCP.com. It’s so great to be in contact with anyone, and also too, I think I’m the only Billy Keels on LinkedIn in Barcelona, Spain. So, if you like LinkedIn as well, I love being able to connect with people there. It’s just another way to keep the conversation going, but like I said, Billy Keels, I’m the only one on LinkedIn or FirstGenCP.com

[END OF INTERVIEW]

[OUTRO]

0:27:11.9 

WS: Thank you for being a loyal listener of the Real Estate Syndication Show. Please subscribe and like the show, share it with your friends so we can help them as well. Don’t forget, go to the LifeBridgeCapital.com where you can sign up and start investing in real estate today. Have a blessed day.

[END]

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