The IDEAL Investor Show: The Path to Early Retirement

Episode 42: Active to Passive Investing Strategy with Whitney Elkins- Hutten

• Axel Meierhoefer • Season 1 • Episode 39

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Who is the Guest?

Whitney Elkins-Hutten is the Director of Investor Education at PassiveInvesting.com and a partner in $700MM+ in real estate — including over 5000+ residential units (MF, MHP, SFR, and assisted living ) and more than 1400+ self-storage units across 8 states—and experience flipping over $3.0MM in residential real estate.


Check her stuff at https://www.passiveinvesting.com/ 

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Axel Meierhoefer:

Hello, today in our episode, we want to talk about what do we need to learn to be successful in investing, and specifically in real estate investing and who better cook, we invite them Whitney Elkins huffy, who is actually the director of Investor Education in your company. And she will tell us on about what are the things that you really want to pay attention to? And how can you gradually increase your knowledge so that your confidence with your investment keeps increasing and you can ultimately build a portfolio that actually helps you to reach your goals. So stay tuned for this amazing episode. Hello, everybody to another episode of the The IDEAL Investor Show, we have a very special guest today, Whitney Atkins. Hutton is with us from what's it called, again, passive investing with whitney.com. So we're gonna get to that again at the end. But Whitney, welcome to the show.

Whitney Elkins:

Thank you. Thank you so much for having me. This is a pleasure.

Axel Meierhoefer:

Yeah, same here, I really appreciate that you made the time and you have actually a title when I looked at your website, where I have to say, I wish people not only with the title, but with the role if I'm interpreting it correctly, would exist on every level level of education. So for our audience, Whitney, His title is director of education. So tell us a little bit what you do as a director of education?

Whitney Elkins:

Yeah, definitely. So I'm the director of Investor Education here at passive investing.com. And we are a private equity firm that focuses on building passive income streams for our investors, but through investing in assets that are backed by hard assets, primarily real estate, and also assets that have the potential for long term wealth build around, you know, our main geographic focus area are the Carolinas, South Carolina, North Carolina, and Texas, Florida. We've recently gone into Georgia, as well as Tennessee. And you know, we do multi multifamily equity projects, carwashes, self storage, and hotel projects. And then we also have a real estate debt fund. So we run that Gambit, providing, you know, helping our investors not only build their portfolio, but diversify across several different areas that are uncorrelated areas of real estate.

Axel Meierhoefer:

Yeah, that's really cool. And thanks for speaking about that. And just for the audience, I looked it up real quick, when Whitney said, we've gotten a little bit into GA, the little bit, it's a 340 unit, new construction, real estate development. So I wouldn't call that a little bit, at least on my skin. It's pretty, you know, so that's really cool. Um, one thing I said, a couple of things that I really love about how you describe things and how you obviously, I'm assuming, think about it. And that has to do like, when one of the questions when we fill out that little question here getting ready for the podcast. So you know, what do we want to talk about, and you said, creating time freedom by shifting the investment model from active to passive, which is what I'm blabbering about all the time. So tell us a little bit how you guys actually think about it and how you go about it?

Whitney Elkins:

Yeah, definitely. Um, well, part of, you know, part of that is going back to my personal journey. So where I am now, like, I have a portfolio of over 6300 multifamily and residential units, 1400 self storage units, this is just my personal portfolio outside of passive investing.com. And, you know, majority of that is passive investments. But that's not where I started, I started off in 2002. And honestly, like, totally by accident, you know, I bought a house with a significant other, and the relationship, you know, fell apart. You know, about a month later here, I had a house, I thought it was gonna sink me and I stuffed it full of roommates completed the rehab on the project. And then I'm like, I gotta get rid of the thing is the worst. It's not an investment. It's the worst thing it's gonna sink me. And when I did sell the project, about 11 months later, you know, walked away with $32,000. And then on top of that, I had been making money every single month, hadn't paid for any the mortgage, any of the bills. And I'm like, wow, this is amazing. This is what they used to talk about when they talk about investing in real estate. And so I did some of more live in flip projects like that. That term did not exist in 2002. YouTube didn't exist. I had to do all this rehab myself, utilize looking things up in a book. And when I goofed up I was like

Axel Meierhoefer:

I mean, Brandon Turner is always claiming from bigger pockets that he coined the term house hacking. I'm not sure if that's true, but I mean, live in flip house hacking. Yeah, that's really cool. Yeah, keep going.

Whitney Elkins:

Yeah, definitely. Well, my curiosity was piqued and because I had made more money in 11 months then or just as much money in 11 months as I made it my day job it was, you know, taking me 80 hours a week and a lot of travel Little for me to bring in, you know, that type of income, like, Whoa, I just doubled my income in 11 months. This is amazing. So I continue to do those projects on the side. And then you know, my husband and I got together, we did a few more projects together. And we just couldn't quite figure out how people were, we didn't have anybody in our circle that was doing this, we couldn't figure out how people were, you know, unlocking their golden handcuffs were like, we just have another job doing these live in flip projects. And then somebody one day said, Why don't you keep some of your properties, we're like, oh, put a renter in. That's amazing. And, and if anybody knows me, once, the idea clicks, I'm like, down the rabbit hole. So we scaled over 30 rentals within about two, you know, one and a half, two years. And we were still flipping on the side. So we were executing what we call the burst strategy, buy, rehab the property and rent it out, refinance, and then repeat it. So we were continuing to pull our all of our capital, or a majority of our capital out of all these projects, you know, I built this portfolio, and we hit a level of achievement, I was like, well, on one hand, I wanted to be able to stay home with my daughter, because, you know, we go back to creating that time freedom, right. And I was also taking care of family members at the time. And then on the flip side, I'm like, we need to continue to scale and build because now my husband wants to be at home too. And I'm like, ooh, we gotta go bigger. We gotta go, like larger projects that lead us into that next transition, like, do we have to do it all actively? Or can we invest in other people's projects and lever a team to help us get there. And there was a really important book, you know, that I read at that time, you know, most people read, Rich Dad, Poor Dad. But I read the second book to Cashflow Quadrant and the Cashflow Quadrant is in the first book. But you know, I had to be smacked over the head a few times. And I read that second book. And I was like, Oh, I'm self employed, with all these single family rentals that I'm doing. And even I had a 52 unit, I was leveraging property management, right. But I was still just a self employed person, I hadn't even figured out how to scale a business, bring people underneath me to help me manage where it was building, I don't like, but I think a right to the AI quadrant to the investor quadrant if I invest passively in other people's projects, and that way I could stay my time and attention can stay focused on what it is I'm trying to build myself. But I can still leverage the power of real estate, you because we wanted to diversify ourselves into self storage into mobile, home, parks, residential assisted living, and I'm like, I can't become an expert in all those different categories, I shouldn't become an expert. And that's really where, you know, we started building both active and passive in the same time. And you know, fast forward a few years later, when we sat down to really figure it out, you know, our time a return on our time. That's when we're like, man, passive, I mean, on paper, you can make more on the active side. But when you're talking about the return on your time, there's just no investment that can beat the passive investing in real estate.

Axel Meierhoefer:

Yeah, I totally agree with that. And I mean, for our audience, when you compare the scale that you guys are operating at Whitney with the scale that we do, basically, on this individual level, vast majority for non accredited investors, is basically taking a little bit of a twist of what you're doing. And I'm really curious how you would actually contrast and compare that because just to remind the audience, what we basically do on one on one working with individual families, is to say, okay, because we don't want to do like the birth strategy, because most of the time, people have a job and a family and all these kinds of things. So they don't really want to make real estate, their job, or the predominant thing that they spent their time on. But they at the same time also want to at least until recently, I mean, last six months is maybe a little different, but up until then, also take advantage of the benefits of leverage and depreciation and those kinds of things more directly. And so we develop basically this outer state turnkey model, where you basically working with property management with the renovation team, with the construction team, and so forth, but not in the sense of overseeing which window goes into which hole, but basically developing these relationships with the organizations who make that their business without going all the way to syndication. Like I would kind of interpret what you guys are doing because we then still retain the ability to say I do a 8020 deal where put 20% down and 80% I get from the bank, so former director of education or investing education, the differences in if we stay with like, for example, your Georgia project, where would you say is the space for people using our turnkey approach in a passive sense because as soon as you done the deer, you have property management in place, you have your financing in place, all you basically do is you get the distribution owner distribution from the pm every month, and then we do a little bit of a twist on cash flow parking and tokenize real estate that form. But that's about it, you don't really do much on a monthly basis. And if there ever is anything to be done, then the maintenance of the Pm is doing that. So if you contrast that with what you typically do, how would you point? Or what are the differences to like, if somebody were to say, I want to get with Whitney in her 340 unit to Georgia?

Whitney Elkins:

Yeah, so there's a little bit to unpack there. Because it's really not a question of either or right, it can be a question of, right, exactly. And I encourage people to really kind of take a step back and understand what their goals are with their real estate. So number one, I would assume everybody like listening here has some sort of buy in that real estate, you know, hopefully, going to be impactful for their journey. That is, first question to answer for yourself. If you don't believe in real estate, don't invest in it. Okay. But if we overcome that hurdle, then the second question then is, what do you need from your real estate? Do you need cash flow appreciation, diversification tax benefits? Do you want to be active with your time? Do you want to be passive with your time? Okay, do you want some sort of split? Right? Like I have a split portfolio, I still have active investments. And the reason is because I want to have control over those investments I want to have control over when I buy, how I buy it, who's in the property, when do I refi it? You know, when do I sell it? Right? So that is kind of the case in question with an active portfolio. Now, at some point in time, if I'm building everything actively, and guys, I get it, right? Like it's still considered passive real estate, passive income by the IRS. But it doesn't mean that your time is passive. At some point in time, there's going to be a scale, I'm going to hit a ceiling. And I'm going to have a choice, do I want to build a team underneath me to help me kind of offload some of that pressure? Or do I want to build out also a passive side of the portfolio, and that's what we can help somebody do. Now for high income earners, or people that have a higher and better use of their time in their job, maybe a doctor, a lawyer, you know, a tech person, and they can leverage the cash flow that they're bringing in and can actively through their job or through their business, and then channel that into passive real estate. Now, they're not even like diverting their time and attention trying to buy smaller properties. Now, what you're seeing is turnkey. That's fantastic, right? Because that's kind of the the happy middle of the two. And if you think about what we're doing as syndication investments, these larger projects is essentially multifamily. Turnkey multifamily, you know, self storage turnkey, we're just talking about accessing higher quality projects, and then not even higher quality projects, but larger projects, probably, you know, maybe a breadth of you know, scalability in there, you can get access to multiple markets. And then, you know, also take advantage of an expert team actually running the day to day operations in, you know, with typical turnkey and you know, your model can be quite different here is because there's this hybrid space that's evolving, is with the typical turnkey, somebody is doing all the rehab for you on say, a single family or small multifamily, they're putting a tenant in place or placing all the property management, they're handling all the heavy lift parts, the buyer just has to secure the loan, the investor just has to secure the loan, and then they hand it over to property management, but it's putting the investor in a COO position, because they still have to manage property management.

Axel Meierhoefer:

That's definitely true. Although it's for the most part pretty passive. I mean, it's maybe not quite as passive as syndication, but it's probably as close to passive as you can get without, you know, especially and this is one of the things and I'm sure you would say this even for GP in a syndication. Ultimately, it's really a matter of the quality of the team that you're working with, right? If you really have a caring, professional, really well working property management organization within the frame of the turnkey provider. And that's one of the things that I always point out. One of the distinctions is, is the turnkey organization as a company does it consist of marketing and sales team or renovation team and the property management team where they work together and basically build the projects and take care of the projects together or is each individually separate from each other while then you're sitting in the middle of the triangle. And as you probably point out, then you are basically the CEO of managing these three entities whereas what we're trying to do at least with the relationships that we make available to our clients is to almost exclusively work with like, for example, the eye nations of the world or stuff where that is all under one roof. And not only is it kinda like helping each other, right like if you renovate it well knowing that you're going to have to manage it later then obviously you pay a little more attention. I don't want to say flippers generally do a bad job, they will be wrong for not really true. But there is psychologically a difference. If you renovate a property and you sell it and you never see it again versus you know, my friend Johnny in property management has to take care of it. And so we want to make sure that this works, especially from a warranty perspective and stuff. So this under one Yeah, it's kinda like, you know, if you say, okay, here is Burr, or here is flipping or wholesaling, is kind of like one level, then I would say this all inclusive turnkey is the next level. And then what you guys do from a GP perspective, or general partner offering these projects to limited partners is on scale and size and all of that. The next level? Can you say a little bit about what does it actually take from like an educational perspective for an investor, a regular person who may say, Okay, well, I have a couple of singles, I have maybe a duplex and a triplex. And now I'm thinking about something participating in something bigger, regardless whether it's necessarily for being more passive or less passive, but what does it take? And how does somebody actually kind of wrap their mind around the setup that you guys do?

Whitney Elkins:

Yeah, definitely. Well, you know, we touched on the goals, and that's number one, you know, really take into account how do they want to spend their time? And then also the business risk, right, you know, what is their risk tolerance, because there's so many different, you know, types of business plans in syndicated real estate, in what we focus on are kind of unique, especially in the multifamily front, you're stabilized Class A properties that are still very affordable, they're still in, you know, the growth markets and much politan service areas, or maintenance on the property. So right now, you know, you're essentially buying it, maybe adding a light value add plan, you know, to increase the rents add a couple of additional streams of income, but no, like rehab on the property, we're de risking our investments by removing the you know, especially at scale, when you're talking about 340 unit building, the labor costs, as well as the supply costs, you know, those things are bouncing around all over the place right now. Anyways, so you know, I also encourage the investor to think in terms of that, right? So their goals, what is their risk tolerance, you know, what kind of investment do they want to be in. And now we can kind of get into like finding the operator, because when you make that transition from controlled real estate, you hold it in, you know, personally titled, you know, our turnkey type situation, where you're still personally titled, but somebody else has done all the large, heavy lifting for you, right into passive real estate, you again, you're now taking off that CEO hat and handing it over to the general partner. So what can you control in a passive deal, you can control what your goals are that type of business plan that you want to invest in, you can control who you invest with what type of operator, so kind of what you said, has to be an expert team, because you're betting on the jockey, not the horse. And a lot of people that come into the space, they're like, so you know, they're used to finding their own deals, they're enamored by the numbers, and they forget that they're actually investing in a business, not the deal directly, right. So the operator quite clearly tough, then we have to understand the market, and then we get into the deal. So we're essentially flipping the investing model. But for new people who have limited time and attention in you know, we all have our different seasons of life, when my daughter was little, you know, I was changing diapers and stuff like that. But I still had time to like, do a lot of research. You know, she slept like 14 hours a night, like I got my nights and I was able to really invest in real estate. Now. She sees them tonight. 930 at night, she wants to play games, she wants to talk and so I actually have less time now. So we all have our different seasons of life. Even if you get into real estate, you know, it's kind of like I give people permission to as your portfolio grows, as it scales as your different seasons of your own life change. Think about complementing your portfolio to add in, you know, a different strategy or two, if it's warranted.

Axel Meierhoefer:

Yeah, exactly. And that's part of the reason why we're so glad that you came on the show, because we want to obviously, for the audience, not just to say, Okay, keep listening to accident and what he is keeps preaching of what we directly help people to go into this first phase. And then also, like, you know, you just said there is more phases coming after that. So if we look a little bit into the market environment, I think this is really kind of an apropos and interesting question in general, but maybe also for the kind of investments that you guys are offering mean, yesterday I saw for the first time and I didn't really think I would see it this quickly. That like the regular 30 year mortgage is now about 6% for owner occupied. I've seen that our investor loans for you know, any of the deals that people are currently contemplating, like having a seven in the front, which I had thought we wouldn't see again in my investing lifetime. So when you translate that to your kinds of deals, I mean, I know that the numbers are significantly bigger, but I'm pretty sure you're not totally immune to you know what happens in the financial market. Good. So how would that translate into any of those deals that people sign up for?

Whitney Elkins:

So, you know, we aren't currently on our projects, we aren't actually, you know, looking for loans from the government sponsored entities like Fannie Mae, Freddie Mac, so we're looking for more private loans. Now those rates will change, right, you know, people are pricing that into the market, a lot of that pricing, you know, I follow economist and not an economist myself, but you know, a lot of that particular pricing, you know, according to economists came into the market March, April, May. And so really, what we're seeing from the Fed is perhaps a delay in them actually reacting. Now, that said, if you're looking at a conventional 30 year fixed mortgage, that's going to react, you know, very differently, you know, to the market, as well, there's, you know, because they have to package everything up, and they sell it off as a mortgage backed security. So those type of rates are going to continue to probably bounce around. But a lot of these, like, you know, more private type loans, a lot of that pricing is already kind of baked in. And so what we are seeing currently on the multifamily front, we're still able to get private lending and you know, in the four, four and a half space, on, you know, self storage, you know, four and a half to five, on our hotel deals 6%. And on our car wash deals about a five, five and a half. So we're still very well arbitrage with inflation and environment.

Axel Meierhoefer:

So do you see, I mean, this is only my experience, but keeping an eye on what happens in the markets that it used to be that private lending of any kind had a typically a little bit of a spread between what could a private lender get with a very secure to medium secure kind of approach, you know, to like government paper and stuff like that, versus putting it into something? Not really, I don't want to say it's more risky. It's just, you know, either longer term or more volatile or stuff like that. So it sounds a little but the way you're describing it, yeah, the government is giving you 4%, but you still put it in real estate, when it used to be when the government gives you one or 2% and you put it in real estate for five, okay, then, yes, it may not be exactly the same, but you're actually making a little more. So do you see that that is gonna change? And I'm not so much interested, personally, I think in the audience in the details of the calculation, but what happens to a deal, where you say, Okay, well, we have a minimum investment per unit at 50,000, for example, to participate, I don't know, in our Georgia deal or something like that. And the financial environment, and this is something that we're facing in our world with our turnkey investing, is we always looking at the performance of the deal, the performance, ultimately of the asset, right. And so if things like the lending, whether it's private lending, or FHA lending, or no doc loan lending, we do all these different kinds. But obviously, if we go from, let's say, 4.5 to 6.5, or seven, the performance aspect of the deal can suffer. And I wonder if there is anything like that? Or if it's just okay, don't worry about it. It's all locked in. And if you sign up as an LP, then you're good to go. And I really honestly don't know.

Whitney Elkins:

Yeah, no, no, no. So there's, you know, again, several factors to unpack there. So, like I said, with our interest rates on our projects, we're still like in that four to 6%. Now, obviously, the interest rate is going to affect the debt service on the property, hands down. I mean, it's like, you know, owning a single family property or small multifamily. Now, the biggest difference that I can draw here, because it's impacted in my portfolio as well. So when we're dealing with single family property, and small multifamily property, you know, maybe they'll like the one to four units, and I argue up to 50 units, because I'll tell you why here in a second, but especially that wonder for space, your valuation is based on comparable sales. So whenever you go to sell that project units based on what the guy sold his fort in the last six months, right? Okay, so that's why we have to get appraisal. Now, when we do an appraisal on a larger project, technically five units are over. However, I argue it's 50 units, because this five to 50 units is kind of a no man's land. No explain that in a second, but 50 units or more. Now we're getting in based on that operating income. So I actually have multiple levers I can pull in the project to better control the valuation of the performance on the project, you know, how can I take the project and get it to market rents? Do I need to burn off concessions with the previous owner? Do I need to do a light rehab on the property maybe paint, carpet flooring, whatever to make it all nice and pretty? Do I need to do exterior maintenance in order to get you know, command market rents? How can I decrease the expenses on the property? Can I renegotiate contracts? Can I change property management? How can I add additional streams of income? Now the first to increase in income and decrease expenses? You can do that on your smaller real estate one to four one to 15 units is adding additional streams of income, especially on those one to four units. That is very hard. I've tried to rent and you know, I've like, yeah, I've got a shed in the backyard, I'm gonna try to rent that for extra. And then like tenant says, No, I don't want it. And then they guess what they do, they break into the shed. And they use it, oh, I was in last time. But I can do that on a larger property like 100 unit property, I can increase the amenities on the property in charge. And in many of these, see, I can do pet leases at scale, I can maybe bring in a utility to the project, move all the cable and the fiber Internet to the property, I can do these type of things to add that top line dollar to the profit and loss statement. And when I do that, I get rewarded based on valuation. So when we say is the rate going up and the expenses going up on the property, yes, it does impact the bottom line, however, I get to now be more creative in my plans in order to add value to the property because I'm going to be rewarded for it. And that kind of counterbalances itself. Whereas on single family real estate, I there's very little I can do pass like, you know, making sure that my tenant is paying the top rent in the area, I can't really move property management to much increased operational efficiency there, I can't add additional streams of income, and I'm locked in on my valuation being comparable sale. So that's really where the biggest starkest difference between the smaller units and the larger units really lies. Now, I've alluded to that one to fit the space, the one unit to 50 unit space is kind of a no man's lands. And it's because even though the five to 50 unit should be technically valued as commercial real estate based on that operating income. But there's a lot of people in the world these days that they don't care about that valuation, and those are smaller transactions, and they're willing to potentially overpay, they've got millions of dollars coming out of a 1031 exchange. And so they'll just pay cash. They have foresight that, you know, in three, four or five years, it may not be calculated what they want it now, but in four or five years, well, they've got the cash, they just buy it. And so technically, yes, it's evaluated based on net operating income, but you've got a lot of people that have like just the liquid reserves to be able to buy cash.

Axel Meierhoefer:

Yeah, absolutely. And I mean, one thing. Yeah, and one thing I would say, and I think you might be able, in a larger scale to even benefit a little more, you pointed to, you know, improving basically the quality of what is being offered to the tenant, which smaller scale or larger scale, I think applies generally in both areas. But one thing that I personally see from a little bit more macro economic view is there have been probably a bunch of people, especially when the economy started coming up again, and you know, getting out of pandemic and stuff like that people are getting into jobs, we have relatively low unemployment rate that actually thought about, hey, maybe it's time to look for my own place, not expecting that in four or five months, the interest rate environment explodes from like below 3% to 6% or more for the owner occupied situation, which to me, if you asked my opinion about it, yes, on our smaller scale, that might benefit us a little bit. But if you have a 300 unit, relatively new or brand new place, all these people who were hoping or looking to potentially go on their own property will either no longer qualify or will say I just saw this statistic yesterday, just to give a little flavor, right? Like the median price for single family residence in the United States is around 400,000. Right now, if you compare November 2021, to today, the increase in cost per month that you have to pay is$800, plus or minus. So if you ask yourself, Okay, do people really have $800 more per month? Well, in reality, since you can really borrow more than 50%, you would have to have $1,600 more per month available to even look at the same deer. I think a lot of the deals or a lot of the things that people were looking at seriously, considering even people who were already under contract, the bank might say, sorry, but I can't give you the money anymore, because it just would require such a high payment that you can't afford it. Well, all those people would say, well, where's a really nice place where I can live? And they say, Hey, Whitney, do you have anything, right? So and you can say, well, I have 320, because the other 20 already? More or less? We can, right? So this is just to give it a little bit of an economic flavor, besides all the things that you listed. So I think we hopefully gave the audience a little bit of an idea of how the larger scale can actually benefit if you want to get into that maybe as a step up from first establishing those properties and those assets that you have a little more direct control over.

Whitney Elkins:

Yeah, I mean, what you just described is going to benefit any investor rental investor. So the matter of like, how can you as an investor get into real estate right now? Or You know, continue to build your real estate because you know, again, the high can interest rates, it will impact, you know that GPS or individual investors being able to acquire a property will probably slow that down, but it's really going to hurt. Like I said, the retail purchaser. And

Axel Meierhoefer:

well, I mean, all of the people that, you know, we're working with, I can say this for myself as well, if you had any kind of assets that you bought, like, let's say, since 2017 1819, you have so much appreciation sitting in there where you can keep your 30 year loan and get like a home equity line of credit bundled a two or three together and you can buy properties, you know, in the current market, maybe new builds versus renovated or stuff, there's a lot of opportunity there. If you're not dependent on, you know, the traditional basic qualification criteria that apply for owner occupied. So yeah, I think that there's a lot and that's why I love to have you on the show, because there is a lot of education that we need to do. Because as these things start moving, more moving pieces are being touched, you know, I mean, for three or four or five years interest rates were not really a consideration, right? They were pretty stable. Yes, you had to know a little bit about them. But you know, if you did it today, or in six months from now, it didn't make a difference. Now, if you didn't sign your deal in November last year, and you signed it now, why was suddenly interest rates doubled. It's kind of crazy if you really think about it. All right, cool. So as you know, Whitney, we always ask two questions at the very end of our podcast. So the first one is, if you could meet anybody who would you love to meet and why?

Whitney Elkins:

I was prepared for the time travel. Okay, if I can meet anybody, I'm really excited about this. You know, this is kind of I have so many people in my life that I would really love to meet Gary Keller being one of them. I'm a huge fan of the one thing my daughter and I are huge fans of Jocko willings. And actually, we get to meet him. Next ones are actually at the end of the month. So I'm super excited. Yeah, that dream is gonna become a reality.

Axel Meierhoefer:

Yeah. Can you tell the audience real quick with that? So if they are not familiar? Yeah.

Whitney Elkins:

So he wrote the book. He's one of the authors of Extreme Ownership. And he also wrote a kid series called where the warrior kid. And so it's about, you know, how can you take personal responsibility for things, and I really wouldn't do it justice describing it. But it's been a fantastic series, you know, not only for me, like and you know, my own personal development journey. But, you know, having my child who's under the age of 10, read it, just to understand that, you know, the some of the things I'm asking her do, like, make her bed, like, there's a larger purpose to this and her being able to learn how to do executive ordering, and just really setting the habits and routines right now that are going to serve as an adult.

Axel Meierhoefer:

Yeah, that's very cool. Thank you for that, because that hopefully was the most of the audience to kind of check it out and take a look at it. So now as you have been anxiously waiting, you have our time machine, it can go any direction you want. So where would you take it? And why

Whitney Elkins:

Yeah, I had this So, we were joking, guys. We were joking before the show, because I had been asked recently, like, if I could take a time machine anywhere and it couldn't return, where would you go? I'm like, I wouldn't go anywhere. Because I don't come back. I love my life. No. So I was really hesitant to answer this question.

Axel Meierhoefer:

You can go and come back?

Whitney Elkins:

Yeah, and guys, this, you know, most people would probably be like, I would take my cell, you know, do the Back to the Future thing, right? Get a comic book or like a newspaper and take their previous version themselves. For me. It's kind of hysterical. I would go to a Prince concert, you know, oh, two years ago. Perfect. Right. That is somebody I it's an artist that I love. And I am just, you know, I'm heartbroken that I didn't get to see him whenever he was alive.

Axel Meierhoefer:

And would you be like front row or backstage away? Where would you be?

Whitney Elkins:

Had I gone before I probably would have gotten the newest lead seats. Now that I know what I know. I would be front row. For sure.

Axel Meierhoefer:

Awesome. Okay, well, that's definitely a cool one. Thank you, Whitney. And thank you for being such a great guest on our show, I think we hit people understand that a bit, you know, from singer to a little bit of a portfolio to the scale that you guys are working at and that there's room for everybody to live in this space and be successful. So thank you for making the time and helping educate our audience. Now, if somebody's 340 units in Georgia, that's so interesting, how do I learn more about it? What do they do then

Whitney Elkins:

Definitely, you can reach out to us you can visit our website at passive investing.com If you want to talk to me directly go to passive investing with whitney.com and then I've got some free downloads and goodies for the audience. As well as you can get direct access to my scheduling link and we can you know book time together and I just get a chance for me to get to know you as well as understand your investing goals and if we're a good fit, so that's it passive investing with whitney.com.

Axel Meierhoefer:

Okay, that's really awesome. And we're gonna put that in the show notes and in the video recording notes, and so forth. So again, thank you, Whitney for being on the show. And maybe we can do it again and see how all these things develop over time.

Whitney Elkins:

Absolutely. My pleasure. Thank you so much for having me.

Axel Meierhoefer:

All right, cool. Thanks for listening. And I hope you enjoyed today's episode of The IDEAL Investor Show more info and the links we mentioned during the show in the show notes or you can go to our website at idea where to go.com and sign up for the Apple podcast link. And if you'd like to talk to me sign up for a strategy call. Hopefully you want to share what you learned with your network and bring more people in we are really eager to hear your comments and until next time, be well stay safe and ciao.