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Episode 91: Passive Income as Passion Income
183 Plays4 years ago
The road less travelled isn’t without its challenges, but the freedom to take control of your own journey, and perhaps find financial freedom along the way, can make it well worth the effort. Duane and Kathy Davis made the shift from the stable monotony of corporate work to the often unsexy world of multi-tenant properties. Kathy tells us about how to find your niche, gaining knowledge on things you’ve never done, and her advice for someone who doesn’t love their job.
Plus, how to solve problems you’ve never faced before, looking at failure as an education, and taking your kids along for the entrepreneurial ride.
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Transcript
Living an Uncommon Life
00:00:02
Speaker
Everyone dreams about living an uncommon life, but how we define that dream is very different for each of us. And for most, it's a lifelong pursuit. Welcome to the Uncommon Life Project podcast. We're going to introduce you to people who are living that life or enjoying the journey to get there. We're going to also give you some tools, tricks, and tips for starting or accelerating your own efforts to live an uncommon life.
00:00:27
Speaker
A life worth celebrating and savoring.
Introduction to Hosts Philip and Brian
00:00:30
Speaker
Please welcome your hosts, Brian Dewhurst and Philip Ramsey.
00:00:35
Speaker
Hello, everybody, and welcome to another episode of the Uncommon Life Project. I'm your host, Philip Ramsey. And I am Brian Dewhurst. Thanks for tuning in to another recording. We're grateful that you stopped in. Man, first, Brian and I have been doing a lot of work with individuals helping them go down their own uncommon
Kathy's Journey Inspired by 'Rich Dad Poor Dad'
00:00:54
Speaker
path. So I cannot wait to record this show.
00:00:58
Speaker
and get the one and only Kathy Davis on the show, unpack her story a little bit. And then hopefully this encourages you to go down this path. So Brian, let's start with the bio. Then I want to get Kathy on the show and then let's get this going.
Transition to Multifamily Properties
00:01:13
Speaker
All right, well, we are talking about the one and only Dwayne and Kathy. We only have Kathy with us today, though, so, but Dwayne and Kathy live the uncommon life in Central Iowa and homeschool their four children. Dwayne broke out of the golden handcuffs in August 2020, and they use multifamily properties to live their uncommon life and generate residual income. So welcome to the show, Kathy Davis. Thank you. I am super excited to be here.
00:01:42
Speaker
You know it's funny because we got introduced to Dwayne and Kathy and from the immediate we were like kindred spirits and from the bio you can tell why Dwayne was actually working at a fairly big organization and felt like
00:01:58
Speaker
there's got to be a different thing to do. There's got to be a better way. So Kathy, you're obviously like on the front seat to this and you've always been in common. But let's talk about that. When Dwayne came home from an amazing job and said, Hey, I don't want to do this anymore. Tell me that thought process and tell me what you were doing and how you were processing that together.
00:02:21
Speaker
Well, he did, he enjoyed, he enjoyed what he did for a long time and, uh, really liked the challenges and liked the environment and liked who he was working with and all those things.
Dissatisfaction with Corporate Life
00:02:32
Speaker
And, uh, as most people who spend time in corporate America know, there is lots of, which I say reorging or constantly reorging. And he used to be able to pick out really good when he could see a reorg coming.
00:02:49
Speaker
and brace himself for it and shift and, and adapt. Uh, and then it just, it just got to where the cycle of reorgain was sucking the joy out of his life, constant layoffs, and then turn around and we have to rehire. We have this money now we need to rehire and just that cycle, uh, really started to wear on him and.
00:03:17
Speaker
There just became a point where he, and we kind of, I can see it coming. Um, you know, and we, I didn't know any other way. We didn't know any other way. And so it would always leave, you know, these cycles and stuff would leave us kind of panicking, uh, because
00:03:35
Speaker
He also, and I think a lot of people experience this when they spend time in corporate America, but he worked his way into a corner where his skills were maybe not as adaptable as jumping to other companies. It would appear that he could do that, but he just didn't feel confident that that would be the case, that his skill set was becoming more and more refined rather than expanded.
00:04:05
Speaker
This was probably the last seven years. Uh, he just, he just, things were getting worse and worse. And, um, and I had read rich dad, poor dad, actually about seven years beforehand.
Inspiration for Passive Income Strategies
00:04:19
Speaker
And I just was blown away by just a simple idea of you, you know, coming up with enough residual passive income and to be able to step away from.
00:04:32
Speaker
that salaried job. And I had filed the ideas away in the back of my head, not really thinking that we would, you know, eventually do that because I know enough about marriage and how it works that I knew I would have to have Dwayne's full buy in for us to do something like that. Well, he got miserable enough that I said, Hey, you know, what about indoctrinated him? I did. I did. And, uh,
00:05:00
Speaker
We had actually met with an Edward Jones guy and he had put our financial picture up on the board like they do.
First Steps into Real Estate
00:05:11
Speaker
We didn't have very much real estate. We had very little real estate in our portfolio. When we walked out of that meeting, Dwayne turned to me and said, what do you think about getting some rentals? I said, that's exactly what I want to do. I said, let's do it. I was already in that mindset.
00:05:30
Speaker
and knew that that could potentially be what his ticket out of the golden handcuffs would look like. And so we did have a couple close friends that had real estate or rentals. And because we knew nothing, we literally knew nothing. Both of our parents had had maybe one rental growing up.
00:05:53
Speaker
But it wasn't there, you know, either of our parents's thing. Well, it was, it was for my, for my husband's family, it was just a, yeah, a little side hustle thing that his grandma lived in. And then, and it was like two apartments. And so they rented out the other one. And for my parents, it was my grandparents house. My mom tried renting it for a while.
00:06:16
Speaker
And so we had very little exposure to that. And my husband had, all of his career had been behind, for the most part had been behind a computer and you just get it. I mean, I hear about it going the other way, but you just get sick of that. And so that idea of doing things with his hands and fixing things. And he's, he's good at that stuff anyway adapting and figuring those things out, but.
00:06:43
Speaker
He, that, that appealed to him. That totally appealed to him. And so we start looking and, uh, uh, enriched dad, poor dad, he says, find your niche, you know, find, find what your niche is. And so we start, actually it was me because Dwayne was still working all the time. Um, I started looking at houses, you know, single, single family houses and
00:07:15
Speaker
I, I just, we didn't see anything. I would bring home, you know, options and it just didn't. It takes time. It does. And I kept thinking that in the back of my head, we have to find our niche. There's gotta be some niche and, uh, an eightplex and a neighboring town came up for sale. And we actually didn't even see it. It was our neighbor that has other rentals. He said, Hey, this would be a good fit for you guys. And I think you could do this. And if you don't buy it, I will.
00:07:43
Speaker
And I think there's an important lesson there that you verbalized your intentions with other people that helped bring that first property to the table, which can typically be a dangerous thing, but like they were already in the rental business. A lot of times you tell your family, hey, I have an idea. And they don't have any experience with that. And then they shoot it down. They take the bone arrow in their hand and they just shoot at it.
00:08:09
Speaker
But when you get around the right people and like-mindedness, you can actually find the opportunities that you're looking for a lot easier. But I think one of the principles that we see a lot is, especially with real estate, is you've got to look at several deals to probably get your first one. And a lot of people quit.
00:08:31
Speaker
heard some people, you know, oh, we made an offer and it didn't work. And then they just totally quit. You know? And so I think that was a big part of your guys's testimony with this is that you were just kind of relentless. Yeah, definitely. We had that was something else that was really helpful out of rich dad, poor dad, as he said, get in the habit of looking at stuff. And I try to tell friends that I know that are
00:08:56
Speaker
Thinking about this, like, even if you're a long ways from pulling the trigger, look at this stuff every day. Just look at a few listings, look at a few things. And, you know, I think that's true of like car shopping or anything. If you, even if you're a long ways away from being ready to buy something, at least you know what you're looking at. It's kind of an, it's an education.
00:09:16
Speaker
And so then when the deal we wanted came through, we're like, oh yeah. We've seen lots of single family houses that were for what we paid for this eight plex. And so.
00:09:30
Speaker
No
Finding Their Real Estate Niche
00:09:31
Speaker
brain. So you were kind of talking about your niche, and I alluded to it in your bio. But you guys have, I think, carved out a niche in real estate. And I want you to talk a little bit more about that. Because I mean, I live in a smaller town, similar to where you guys are renting. Yeah.
00:09:52
Speaker
I think you guys have done a good job. So kind of talk about what you were looking for. I know you don't want to create competition in the marketplace for your niche, but yeah, just kind of talk about how you have carved out your niche and what it is. Every small town in Iowa, and I assume this is probably around the Midwest, there was a time period in the late 70s, early 80s when the USDA came in and built
00:10:21
Speaker
one-story apartments. And they come in varying sizes depending on the size of the town. Most of them come in an eight-plex. And they were originally run by non, a lot of, in a lot of cases, they were run by nonprofits, a small board of people in the town as kind of maybe senior housing was the original intent.
00:10:48
Speaker
And someone told me, the USDA subsidized a lot of these because the wives of retired farmers or widowed farmwives needed a place to live. So that's what was perceived as being the case. And so what's happened over time is
00:11:13
Speaker
That's not really a need anymore. It's not really meeting the original need. And so in this nonprofit side of it or the small board of people that were in charge of it, no longer want to do that and no one wants to step in. And so solely over time or just to whatever, whatever led to the decision, the nonprofit dissolved and they sold the property. Well, you know, this is every scenario looks a little different across the state.
00:11:43
Speaker
Um, cause we've run into, you know, a few different scenarios, but actually our original purchase, I'm not sure really, it was intended to be senior housing. Um, but it's been, it's been owned privately. We were probably the fourth owners of it. And so that's kind of what we started looking for are these, you know, one story plexus. Sometimes they're as small as four apartments and a thing. Sometimes it's as many as, oh man.
00:12:13
Speaker
where you live, Brian, isn't there? I think there's a 24. Yeah. Yeah. There's a 24 on one side of town. So they vary in size, but that's kind of the gist. And what we like is the, we like a lot of things about them. Um, they're pretty straightforward to operate, uh, you know, pretty really, really easy, um, to get tenants, uh, because it's pretty affordable and just a simple,
00:12:41
Speaker
a simple setup and small town, small town in Iowa is relatively quiet. So people pay their bills, treat the property decent, stay awhile. Yup. Yup. Yup. So how do you get knowledgeable on something you've never been knowledgeable before? Just jump in head first. Like hope the water's deep enough. Like how do you do that? Well, you set aside a lot of fear, you know, and I,
00:13:11
Speaker
You just have to push the fear aside. And I think being, um, kind of not, we weren't desperate, but we really wanted this to work. We really, really wanted it to work. And we, um, we're confident in our abilities to figure it out. And you do, there's, there's no shortcut to learning. I mean, you know, there's no, there's no shortcut to learning these things. So just different experiences is like, Oh, okay.
00:13:39
Speaker
And we'd only own the property a couple weeks. And for some reason I had a plumber out there. I think it was to redo some of the shower heads. And the plumber happened to say something about, oh, hey, let's take a look at your water fixture that comes in from the street and how it supplies this plex. Okay. So we hadn't seen that when we had done the walkthrough of the property before buying it.
00:14:09
Speaker
But I knew where it was and we unlocked the door and
00:14:13
Speaker
The blubber says, um, that's about to blow. He said, see how that's dripping. It was the original fixture and it was on the brink of total water explosion. It was all rested and leaking. And so he said, um, you need that replaced and you need that replaced right now. And he said, I am going to, he moved us up on the schedule because they originally wouldn't have had time to schedule it.
00:14:40
Speaker
and brought, um, you know, brought a couple of guys that day into, and so, you know, we had to shut off waters, the whole plex that day. And so they got it done in a few hours. But anyway, all that to say, like, there's things like that that you just learned to them.
00:14:54
Speaker
hard knocks, you know? And where was, is Dwayne still working in his big company at this point or did he now quit? At that point he was, but we figured out, we quickly figured out how much, um, how many we needed to own for him to leave. We knew what our, you know, you can figure out what your monthly income is.
Calculating Financial Independence
00:15:12
Speaker
Yeah. And so then it just became, okay, if this is what we can, what kind of profit we can see for each one of these, um, what's how many?
00:15:22
Speaker
It's just a numbers game at that point. And, and we liked it. We liked what we were doing. So that helped. Um, and then, and also, and this, you know, I think is important for people to know. If you want something is probably, it may not come up on the market, you know, and, and that was the only, the first one we bought was the only one that was on the market. Everything else we bought after that, we had to go.
00:15:52
Speaker
asking owners for. We would figure out who the owner was and just approach them and say, Hey, are you willing to sell? You know, what's the worst thing they're going to say? No, you know, if you don't ask, it's going to be a no anyway. That's great. That's great. Now that you've carved out this niche, you have a lot more confidence going to these, these people in these towns. Cause you know,
00:16:17
Speaker
we know we're dealing with, we know we can maintain it, we know it can be a good positive thing for the town, the community. And now you're kind of like a leader in that as you go and approach these other buildings that are coming up for sale. Right. And some of them, if they are still owned, the second one we bought was still owned by the nonprofit, it was still a nonprofit status and so
00:16:41
Speaker
One of the things we realized through that process was, hey, now this is a taxable property in the town because before it wasn't collecting any property tax. So if you can find whatever you're wanting to work through, if you can find out how the other party benefits, that goes a long ways.
00:17:03
Speaker
OK, I want to ask this because I think there's definitely a fun answer here. How have you educated your children through this as you've been going down this uncommon path? Like, obviously, you homeschool, so I feel like this is kind of an alley-hoop. But how have they learned and seen you and Duane change and evolve through this process? And how do you think their lives are impacted because of your trajectory?
00:17:33
Speaker
I think they've done a fair amount of eye rolling. Here's mom and dad again, going again. But it's helped. It's walking that uncommon path. I think stepping outside of the box, I'm the kind of person that I don't assume that because everyone else is doing it, that it's the best or that it's right or right for us.
00:17:58
Speaker
Um, I'm very contrarian in my view about that. And so my kids to some extent are used to that, but they saw, you know, they saw their dad's desperation to leave. And so, um, that we didn't just sit around and complain and, uh, wring our hands and say, Oh, you know what?
Teaching Lessons in Perseverance
00:18:18
Speaker
I guess we're just going to have to live with this. Now we said, okay, we're going to come up with a plan and they watched us.
00:18:25
Speaker
they watched us fight through that plan. Cause there was lots of up and downs. And so, um, I mean, the number of times that we, um, you know, we hear no, we'd approach different, we, we think we'd have a pretty good, um, pretty good option and we'd approach somebody and they'd say no and go, okay, back to the drawing board. What else can we do? What else can we do? And, um, and so that's been, I think just that perseverance and knowing that just because someone's, you know,
00:18:55
Speaker
Someone is successful because they fought for it, not because it got handed to them. Right. And disciplined. Okay. So I think this is a fun question and you kind of alluded to it. What was, has there been like a couple of days where you were like, what are we doing? And what were those and how did you get through those? There's been a lot of those. The one day with the plumbing was, was a top one. Another one was.
00:19:20
Speaker
uh, having a tenant. Oh, you know, like I said, you just learn these things a hard way. We had a tenant that was, uh, a convicted felon and, uh, he was really trying to get his feet back underneath him and he was nicest guy, man. He was a nice guy and, uh, a really great liar, an unbelievable liar. And so, uh,
00:19:44
Speaker
I mean, I could fill your show with that story, but in the end, that was one of the moments where it's like, wow, we learned the hard way, you know, not to trust everybody and not to maybe believe their story, but there's that. And then, yeah, we've had some, we've had some really interesting tenant situations and
00:20:10
Speaker
Yeah. And then there, this Christmas, Christmas day, we had a tenant, um, call with a backed up, backed up toilets. And she said she hadn't flushed anything down there. And sure enough, my husband pulls out, my husband and our neighbor pull out these flushable wipes and like, yeah, there's a, that doesn't work either. But that was our, our Christmas day call. So, you know, if, but you know, it's just any job has its downsides and.
00:20:40
Speaker
If you just know that that's what it comes with the territory, that's what, that's what it is. It is what it is. And in the end, and it's, it's my view of homeschooling too. I don't love homeschooling. It's actually a day to day. I do not enjoy, but I love the fruit of it. And this is the same thing, man. I love the fruit of the freedom that we have in our schedule. And I would not give that up for anything. And.
00:21:05
Speaker
I don't think there's a single day that my husband wishes that he could go back and sit in a mind-numbing meeting and spend his time doing things that he just really feels like are not worth it.
Understanding Passive Income
00:21:20
Speaker
So good. So good. It's interesting because I think a lot of people think about passive income and they start getting this allure to passive income, right? Would you call it passive income? Cause it doesn't sound like it is. And Brian and I would say like it's actually the last thing that we would say is passive.
00:21:37
Speaker
So maybe we're passing income, but even that, you know, there's hard work involved. And so, okay. So now knowing back, you know, back, we're like, oh, passive income, Robert Kiyosaki. Great. Now where you're at, what would you call that? Would you call it passive? No, I would almost say in a lot of ways, and you guys probably agree with this. It's, it's more work. It's possibly more work, but yeah, passive probably isn't the best.
00:22:07
Speaker
I did a Facebook post on this passive probably isn't the best term for it because people think, yeah, money just rolls in, but it's, it's freedom of schedule. It's freedom with how taking the reins of your life and, and, you know, putting your energy and efforts into things that you choose to do and you dictate your time. And yes, it's work. It is.
00:22:36
Speaker
sometimes, like I said, work on Christmas day, but you're in charge of that. And I think that that, yeah, I don't know, maybe it is, in a lot of ways it's not passive, but it is in the fact that you're not punching a clock. We get rent even if we're not working the apartments that day, if that makes sense.
00:23:05
Speaker
Yeah. And you're managing these properties yourself, uh, you know, keeping that cost, so to speak, or that responsibility, you know, and I think like once, you know, maybe that were to shift away or you had somebody else manage properties, then I could see maybe being a little bit more residual income, but, um, you know, also there comes with the trade off of that, you know, how well they're managed, you know, how well that asset is optimized, that type of thing.
Hands-On Property Management
00:23:31
Speaker
So, you know, everything has a risk reward trade off on that front.
00:23:35
Speaker
Yeah. And you know, obviously there's a day when we will probably want to be more hands off, but right now we're at a viewpoint where we've seen those manages, some of the fruit of that managed properties and they aren't managed. Like the owner would do it. It's just, you know, it just isn't as handled as well as when it's their, you know, their blood sweat and tears into it. So no one's going to care as much as you guys care.
00:24:01
Speaker
Right. But there's a trade off because it is, it is our time and our effort. And, um, and so that, that's the trade off, but we're hoping our kids will, how many properties did you decide you guys needed for Dwayne to quit his job? That's 40 was our magic number 40, 40 doors, 40 units, 40 doors. Yeah. Love it. Yeah. Okay. And how many do you have now currently? Uh, that's a really good question. Um,
00:24:31
Speaker
Because we do a couple of our, actually three, three of our properties, we owned 50 50 with a neighbor. And so those are not a hundred percent ours. And, um, so because we have half ownership with our neighbor, we actually are responsible for more than that, um, because of the half ownership and, um, and that, you know,
00:24:58
Speaker
That's one of those things I wouldn't go into that with just anybody, that kind of arrangement, but we've known them for years and just adore them. It's the personalities have worked really well. That kind of thing too, we started with just buying one property with them.
00:25:20
Speaker
and tested the waters. Let's see how this works out. Well, it's working out pretty good. Okay, so let's do this again. And then we're able to work our giftings, the things that we're good at, the things that they're good at, those work together better and have somebody to fill in when, because they like to travel a lot and we like to get away once in a while too, so we can fill in for each other.
00:25:49
Speaker
So what's the future for you and Dwayne? How many do you want? How many do you need? What's, what looks, when you look in the future, what does it look like?
Exploring Diversification Options
00:25:58
Speaker
Um, I, we are probably, I don't know, there's a, well, there's another 17 we're eyeing, but right now it's not for sale. Um,
00:26:08
Speaker
And I think that's kind of the situation as far as rentals go. If we saw something, if we saw a good deal, we'd jump on it, but we're kind of now trying to lean into some different avenues. We've been dabbling in storage units and Airbnb singular, and we're really kind of liking that. And so I think once you get the idea, and I, you know, term passive income probably isn't the best
00:26:38
Speaker
but that kind of business, man, you look at everything differently. You look at car washes differently. You look at laundromats differently, vending machines. You know that kind of- But you guys have kind of that foundation built with the main portfolio that allows you now to kind of look at these other opportunities. Right, right. And you know, what we do,
00:27:07
Speaker
It's not, over lack of a better term, it's not sexy. Like people don't think, Oh wow. You know, they got a really, really flashy property, but we don't care. They don't care that what I do isn't, isn't what everybody's flocking to because, you know, people tended the kind of properties that we buy people look over. Well, at the end of the day, what matters is what kind of income does that bring in? And it's your niche. It's your niche. It's great. Yeah. Well, very good.
00:27:38
Speaker
Okay. So what would, what would your advice be to somebody who's like, got a job and like kind of is like, man, I don't love my job anymore and I can't do another meeting. What would your advice be to them? Um, and this is, well, when people ask me about calling you guys, uh, they say, well, they are automatically going to tell me to do rentals. And I said, no, they're not.
00:28:07
Speaker
They help people find what their passion is, what their gifting is. And I think that's probably the first step is figuring out if you could spend your time doing anything, what would it be?
Turning Dreams into Actionable Plans
00:28:21
Speaker
And, you know, stepping into that kind of plan and figuring out, okay, how, how would I make this make money? How could I, you know, how could I work this to
00:28:32
Speaker
produce an income that can sustain us and it might be doing something like a rental, at least to get you going. You know, I think that's what's so amazing about, um, what you guys do is you help people put legs on their dreams and say, okay, how do you do this? What is step one?
00:28:53
Speaker
I was telling a friend or somebody I'd met that, you know, about what we were doing. And at that time that was the, that was the Dwayne was going to be leaving his job the next month. And I said, well, you know, I read rich dad, poor dad. And, and he, and I'd tell him about what we're doing. And he turns to me and he says, Oh, so you actually did something with the information. You actually moved forward. And I think that that is, you know, that's the biggest thing is.
00:29:22
Speaker
figure out what you want to do and you know, you're not married to it. If you need to adapt, if you need to change, do that. But I think looking at all these things as an education and a journey and a process rather than, wow, tomorrow when I wake up, I want to be able to leave my job and have just this great, fantastic side income. That's not how it works. And it's part of the journey and process. We are so discouraged from
00:29:51
Speaker
failure for everything to be good or bad. I feel like instead of like just a stepping stone to, you know, a filtering process.
00:30:03
Speaker
to finding out what you're really great at. So I really appreciate you saying that because we do get a lot of people are like, Oh, do I have to do rental properties now if I meet with you guys? No, you don't actually, you don't. But, uh, yeah, we do try to meet people where they're at and align with their passions and giftings and skillsets. And sometimes that's real estate and sometimes it's not. So it's right to uncover that. Right. And I was, I had a friend recommend your podcast and, uh,
00:30:32
Speaker
And so I started listening to it and I'm like, Oh, these guys speak my language. Like this, this is what the world needs is, you know, there's a disc, there's such a disconnect between say a book like rich dad, poor dad. And, uh, and reality, like, how are you going to put legs on that? How are you going to make that really happen? Not just a someday, not just a, you know, far off dream, but
00:31:01
Speaker
What are you going to do today that makes that goal closer than it was yesterday?
00:31:06
Speaker
Yeah. So good. Cause in our book, it's funny. We talk about Robert Kiyosaki and one of the things that we think is lacking in Robert Kiyosaki is a true plan to get
The Importance of Acting on Ideas
00:31:17
Speaker
you there. Like, yes, it's, it's just weird. It just doesn't, he doesn't really like get you. It's great ethereal, but at the end of the day, I love what the guy said to you. Oh, you actually did it. Like, yeah, that's the power of doing something with it. Not just reading it out of paper and putting it back on the shelf.
00:31:34
Speaker
But, and you two are doing it. And that's the thing that I think is powerful is like, Hey, the last thing we're going to tell you, this is going to be a smooth process and a smooth road. But what we are telling you is after you jump off the bridge, you won't ever look back and be like, I wish I was back on the bridge because all you can do is just go float yourself on another bridge. If you want to end up doing that, like, yes.
00:31:55
Speaker
Yeah. And the powerful thing I think is understanding, you know, your gifts and, you know, your good and bad experiences, your trials and working through those together is leaps and bounds. You're learning way more than you ever would be just at like the cubicle doom job. So yeah, you and Dwayne feel alive. Right. It's what makes you feel alive. And that I felt like the day that he left his job, I felt like we jumped off a
00:32:23
Speaker
bungee jump, you know, then we're bungee jumping. It's like, okay, now this is the free fall. Is something going to catch us? And, uh, you know, it's, it's not what we would have imagined 15 years ago, but here's the other thing we do say, I wish we would have started this 15 years ago. I wish we would have, you know, I wish we would have started this sooner. We say this to each other all the time. So, you know,
00:32:53
Speaker
It's never too late, but don't put it off if you want to do it. Don't put it off. Good. That is good. Oh, Kathy, you're great. What other things do we need to talk about? Brian, I feel like we've, I think we hit it. Yeah, I do too. I think the other just main thing was you guys knew your number, you know, you knew what it took to get them out of there and you made it happen. So, I mean, that's,
00:33:16
Speaker
That's the other piece. I think a lot of people sit in these ideas or want different things, but they don't know how to quantify it. And so bringing those numbers to the table is just pretty crystal clear what you need to get them out. And then you made it happen.
00:33:33
Speaker
Well, yeah, that's good. Right.
Recommendation for Phillip and Brian
00:33:36
Speaker
So my, my, my closing remark is if you're thinking about it, contact Brian and Phillip, they are amazing and you won't regret it. And, uh, even though we kind of had, we had our plan in place and we, we, he'd quit before I think we'd contacted you. Um, but they helped, uh, I, I like to say we know just enough to be dangerous.
00:34:00
Speaker
And what they did was help us not be dangerous, you know, to, um, to put fine points on things, our goals. And, uh, they know the ins and outs of different things that we did not know. And in the end, it's helped us a lot, um, as far as, as far as, you know, how the business should be to set up and, and steps that we could take to solidify our position. So.
00:34:30
Speaker
It's good. We didn't plan that. Really appreciate that. And you know, like it's been just fun for both Brian and I just to be able to walk along a lot of families who've taken the jump and seeing the fruit of that and seeing like the life just come back into the life. And so if you're thinking about that, or, you know, you want to talk more, man, reach out to us. We'd love to at least encourage you.
00:34:55
Speaker
and help you take the leap of faith, because it's worth it. And we're really excited to be able to be a part of many stories that are walking down their own common path. And you and Duane's, man, I was super excited when we first got introduced to you. And what I get excited about is the mindset, not about a money or like what's in your wallet, but a mindset. And you two had it pretty, you were down the path. And so both for Brian and I was life-giving to be able to
00:35:22
Speaker
put some legs and structure around your plan and be able to watch you guys thrive. So congrats. You're doing awesome. Thank you. Thank you. Yeah. Well, you've been listening to the uncommon life project. I've been your host, Philip Ramsey. And I am Brian Dewhurst. Until next time, go be uncommon. Thanks for listening. Thanks everybody.
00:35:42
Speaker
That's all for this episode of The Uncommon Life Project, brought to you by Uncommon Wealth Partners. Be sure to visit uncommonwealth.com to learn more about our services. Don't miss an episode as we introduce you to inspiring people who are actively pursuing an uncommon life.