Special Guest Expert -Alex Talcott

Special Guest Expert - Alex Talcott: Video automatically transcribed by Sonix

Special Guest Expert - Alex Talcott: this eJw1jl1PgzAUhv9LL7xCYAw2RrKYzUnEZBBFLnZFmrZgYz-wPYBm2X-3xHj5fpznvFdEtAKmoIWfgaEMHZCHuLKAFWEtpyiLoiTabdeph8hoQcvRMvMXbFabOIk8hAnRoyP8m7tt6KGOM0FbheUC7bhgjvs5Y9NblF3RaISzPwAGmwXBPM9-r3UvGB649YmWATV8YsEUBcupDVbqVaXl2zmdm-I5zx_jajJJFb-EX-tc1WFxecAC9pJRju-sHg1he6pnJTSmjXvlIeAgliXnojwdq9Pl2NRF-VTX9wfBvt-xIBrAl0Psqp02EoPrLvJ2-wXiy197:1m4ESk:8o0dWTqdoI0CxYx3rCsNMAcBC0A video file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Speaker1:
So here's the big question. Our entrepreneurs like us have been hustling and struggling to make it to success, who seem to make it

One step forward only to fall two steps back work getting. And drib. How do we finally break through? That is the question. This podcast looking for answers. My name is Brian. And this is the mind body.

Speaker1:
Hello, everyone, and welcome, welcome, welcome to the Mind Body Business Show. This show is for you if you are an entrepreneur looking for the keys to success, the secrets. What are they how how do some people achieve a higher level of success than say. That's what got me curious. That's what got me looking, seeking, studying only successful people for a period of about a decade. I was deeply curious what made individuals more successful than someone like me. There had to be something secret to, it turns out. There's three pillars, three main things that as I was studying, these successful people kept rising to the top and those three things would be representative of those people had achieved great success. And those three things, you may guess by now are the very heart of the title of this very show. One being mine that stands for mind set to a person each and every one of these successful people that I studied and these people are they're either mentors of mine with whom I've worked with some for several years. There are also authors of books that include some authors that are no longer with us, no longer living. And that's just from studying successful people. And what I found was these three, three pillars kept bubbling up and mine being mind set and to a person, each and every one of these successful people had not just a very powerful mindset, but more importantly, they had a very flexible mindset, very key body that's literally about taking care of one's own health.

Speaker1:
And that comes by way of exercising on a regular basis and eating and drinking the right foods and liquids. And that's, again, a trait of very successful people. And then business business is very multifaceted. What these successful people had done was they had mastered the skill sets that are necessary to start, maintain and grow successful businesses. These are skill sets like sales, marketing, team, building, systematizing leadership. I could go on for quite a while. Here's the thing. You, as astute listeners, you know this, that to master anything takes a great deal of time. There's books been written on that. Ten thousand hours makes one an expert in one thing. The good news is you do not personally have to master every one of those skills or their skill sets that I just mentioned. In fact, if you just mastered one of them and it was one that I mentioned in that list, then you are much farther ahead of the game. And that one skill set is the skill set of leadership.

Speaker1:
Once you've mastered that, you now have the ability, you now have the skills to lead those who have already mastered the skill sets you have yet to master. And now you may never need to master them because you bring them into your team. And that is how the very successful operate the way they operate smarter. And I always say there's this common thing work smarter, not harder. I don't like that. I like work smarter and harder because it just infuses laziness when people think, Oh, I'm working smarter, so I have to work as hard and I don't I don't mind hard work. I love hard work. And this show is all about folks like that. And we have an amazing, amazing gentleman coming on here in just a moment. He's in the green room. He's chomping at the bit. He is ready. His name is Alex Talcott, and he will be coming on very soon, I promise. Another wonderful, amazing trait of the very successful people that I studied is to a person they were all always are also very avid and voracious readers and readers of books, not just any books, but the right books. And with that, I want to segway into a little segment, affectionately call bookmarks.

Speaker2:
Bookmarks, Hornsey, read bookmarks, ready, steady, read bookmarks brought to you by Reach Your Peak Library Dotcom.

Speaker1:
Yes, there you see, reach your peak Laborie Dotcom, and this is a Web site that I had developed with you in mind, and I'm not kidding when I say that some think it's cheesy. It's the truth. This website I had built for you. Why for many, many, many decades, I did not read voraciously. In fact, I hardly read at all unless it was a small article about sports when I was younger, something that interested me. I didn't realize it until I was in my late forties. That reading just just tired me out. My eyes just couldn't handle it, reading a physical book, even a Kindle. And then this thing came out called Audible and I listened to my first book. I said, Oh, this is it. And then you can speed them up, as many of you know. So I became a voracious reader of books and I listen to them and I just began reading at the age of forty seven and I didn't start till then. And then I realized this is impactful. This is having a profound impact on me, not only my business but sometimes also and quite often in addition in my personal life as well. And so you'll see there's just book after book.

Speaker1:
There is no rhyme or reason to the order that they are on this page. It was basically kind of sort of the moment I finished reading. I dropped it into this had this dropped into the website. And this is not here to make money. Trust me, those buy here buttons go to Amazon and this is just here for you so that you can at least know there is another resource or at least one resource out there where someone else who's been successful has vetted these books. So now you're not playing the guessing game. And oftentimes during the show, our guest and we'll see if Alex has any of these in his hip pocket as well, not literally that he would recommend that may not be on this list. And we can highly recommend that. I love to get recommendations from our guest experts, but this is here for you. My recommendation to find the first book on here that you have not read. If it appeals to you, just go get it right away instead of going through this never ending list of books that are now in here. So that is our gift to you. And it is very, very, very beneficial to read.

Speaker1:
The other thing I wanted to point out is instead of going and clicking away to go look at your book library dot com, hold off, this is my advice. Write, write it down, put it on paper and then go visit it after the show is over. Here's the reason, not because of the resources I'm sharing with you, but what Alex is going to be talking about. I'm sure they're going to be resources of some kind and you'll just want to write them down rather than go searching for them on the Internet because the magic happens in the room. And I would hate for you to take your gaze, your attention away from the screen looking at something else and missed that one golden nugget that could have changed your life forever that Alex is talking about. So we're here to listen and learn from Alex so that we can model his patterns of success. That's all you need to do, is copy someone who is more successful than you and then put it in action. And that's what we're here for. So. Without further ado, it is time to bring this amazing gentleman on the show. Let's do it. Here we go.

Speaker3:
It's time for the guest expert spotlight.

Speaker2:
Savvy, skillful, professional, adept, trained, legally qualified.

Speaker1:
Yes, and there he is, ladies and gentlemen, the one the only Mr. Alex Talcott.

Speaker3:
All right. Do as I do, not as I shout this evening, I'm pretty loud. Let's go for it.

Speaker1:
All right. That's good. That way people can hear you. So before we get started, before I give you that introduction you deserve, Alex, real quick, a little bit of housekeeping for those of you that are watching live and those that stand live until the very end. You see that logo right above Alex's left shoulder on the right hand side of the screen. If you're watching this live on podcast, of course, this is not live. It's a recording if you're listening. And that is the big insider secrets. Dotcom, that is the company by a good friend of mine, Jason West. They sponsor a phenomenal giveaway that we get to offer you, the listener and the viewer, every single show. And what is that? It's a five night stay vacation. Stay at a yep. You guessed it, five star luxury resort. Again, compliments of the big insider secrets. And we're going to give away one of those at the end. So you'll stick with us to the end and we'll show you how you can enter to win. And we'll pick the winner right after the show is over and announce it on social media. And then a couple more. And we're going to get to the man and the myth and the legend, Mr. Talcott himself. So if you're struggling with putting a live show together and it's overwhelming and you want a lot of the processes done for you while still enabling you to put on a high quality show and connect with great people like Mr. Alex Teleca and grow your business all at the same time, then head on over to carpet bomb marketing, dotcom carpet bomb marketing, saturate the marketplace with your message.

Speaker1:
And one of the key components that is contained in the carpet bomb marketing system is one that you'll learn how to absolutely master. And it's a very service we are using in our live shows right here right now on the mind body business show. And over the course of the past, I say nine plus years we've tried many of these quote unquote, TV studio solutions for live streaming and streaming. I'm here to tell you is the best of the best. It combines supreme ease of use along with unmatched functionality. So you can head on over and you can literally start screaming for free, high quality live video shows. So write this down and visit it later. This website, our Whippy, I am Borght Stream live in. That's our WIP. I am Forgan Stream live. Now on to the man of the hour. Mr. Alex, tell Scott now it's time to give him the introduction he so richly deserves. Alex Talcott JD is a founder and co leading partner of Lexton LLC, which is a real estate private capital company with residential doors in ten states. His investments are active and aggressive passive that's trademarked, by the way. He maintains a private client law practice and has been managing been managing partner of a financial advisory with over half a billion with a B half a billion dollars in client assets. How many fingers do you have for the B, their

Speaker3:
American sign language? For B, that's what I love it.

Speaker1:
Talcott has taught finance and business law at the university level for a decade and is a graduate of Dartmouth College and Notre Dame Law School. Yes, without further ado now, formally, officially. Welcome to the show. Alex Tao, thank

Speaker3:
You so much for coming to you live from a three star hotel. So there is there's a quick entrepreneur secret for you when you're building the business. Maybe three star hotels are the way to go. Go for free. Five star hotels with our friend Brian Kelly and the big insider.

Speaker1:
So thank you for that. And you're awesome. I'm going to I'm going to I'm going to keep you. Can I keep you? You know how you kids go to see the pets in the window? Can I keep it light from that object? Yeah. Wow, that's awesome. And a little quick back story. Why are you in that hotel? This is impressive to me and I want people to know why you're so.

Speaker3:
Oh, yeah. We just closed on a on a property down the road and I wi fi as an up and going. And so it's a work in progress as many of our properties and as we all are. So yeah. I just want to do a. On are some of your high and respectable audio visual standards,

Speaker1:
And the point I wanted to make with that is your desire to keep and hold with your commitment and make it the best you can make it. And that just stood out so huge for me. And it's such a great example for others to follow. That's why I wanted to hear you say that, that what you did, he got a hotel room so he could be on this show and have a stable Wi-Fi. That is the reason he's there. He could be in the new property, but it didn't have Wi-Fi. So he chose to spend extra money and stay in a three star hotel. At least it's well lit. And that's one of the best hotel rooms I've seen in a long time. And obviously, the Wi-Fi is holding steady. So I appreciate my appreciation for you, Alex, for doing that. And what a great lesson for everyone else. When you make a commitment, you do everything you can to get the best out of it, to make the best out of it. I mean, you could have so easily have said, you know what, I know I would have had Wi-Fi. I expected it. But Brian, I'm going have to cancel last minute.

Speaker3:
I couldn't possibly do that because you've already done me a favor. If you look at the promotional photographs for our conversation, you have hair and I am clean shaven. I clearly took the hair off your head and fixed it here. So I've already borrowed hair from you.

Speaker1:
So that's awesome. Yes. And we are having fun and there's humor on the show and he's the funny one. That's good. So what I want to do, Alex, it's fantastic that you have been teaching for over a decade that you're successful real estate investor, private capital company that and you're opening up. We're going to get into that a little bit deeper. What I like to do is with successful people like yourself, there's always a reason why. Why are you more successful than most other people out there? And what usually ends up being is what's going on inside that big, beautiful cranium of yours. It's it always starts with the mind, the mindset that is the foundation for one's success or lack thereof. Either way, it's what is going on inside your brain. So with you, Alex, every day, let's say when you get up in the morning and being an entrepreneur is not working for someone else, it's it's a never ending series of different issues, different things to tackle sometimes setbacks and it's not easy is the point. So what is it for what is going on in your big, beautiful brain when you get up in the morning and then all through the day to keep powering through all these setbacks, all these hurdles, all these things that could knock a normal person back and keep them down for the count.

Speaker3:
Yeah, I think I've built a team and I've built a career and a life where I'm fortunate to be me. I kind of am the absent minded professor. I really enjoy reading. I enjoy filling the top of the funnel with all kinds of information. And sometimes I'm the one distilling it. Sometimes I rely on the feedback of other people where they might think certain information or certain ideas are useful in the classroom for my undergraduates or grad students. Or maybe this fits into something. A law client, a collaborator, collaborator, I would want to know. Maybe this is something that prospective real estate investor would want and want to know. I'm pretty indifferent, I don't really overthink my thinking, I'm a I'm a voracious consumer of information. A lot of that's thanks to my mother and I can give a lot of shout outs why some of those good habits were instilled.

Speaker1:
Men so love it when people come on and give shout outs to their parents, either one, and it's typically it's very often the mom, they're the ones that for the most part, stay with us during the day, especially back in my day, because I'm a bit older. And it wasn't very common for women to have a career and work. And so I love that I have a warm spot for my parents and just. That's awesome that you gave her props for that. We have Travis Lackner saying, hey, yo, Brian. Hey, yo, Travis. How you doing from LinkedIn? Thanks for coming. I like his hair, man. That's a good, good deal. So. So that's fantastic. You know, you're filling your brain with with fuel, with great stuff, with good information, whether you're the one that's actually acting or you're getting it from other people.

Speaker3:
And give me give me fire. Give me all that I desire. And the Calaca I told you out loud.

Speaker1:
Wow, Metallica. I haven't heard them in a long time who maybe have them on the show to do a life, a live performance for us and blow my speakers out to be cool. So so I opened the show by talking about reading books and not just any book, but the right books. No, it's OK. Look, I'm not shaming anybody for reading a book for pleasure just to enjoy. That's fiction. Please don't get me wrong on that. But when you're looking to advance yourself and improve yourself, that's when I say reading the right books during those times. So. If you were to pick out one book, Alex, that just really stands out, it could be one you read 20 years ago, it could have been yesterday that really, really resonated with you and maybe even inspired you. What would that book be and who's the name of the author, if you can recall that?

Speaker3:
Yeah, I'll give you a business book in a nonbusiness book, so the business book would be Always Be The Buyer by Dan Sullivan from Strategic Coach Coaching Program, where I put it in three years and I've had success in sales. But it got to a point in my career where I had some pretty good informed instincts about things that I wanted to build and buy. And so a lot of the next level growth of my businesses has come from being the buyer and finding that moving forward and investing in myself and my businesses has attracted people to come along. So selling, selling by buying has been great. And then a non-business book in college, Confessions by St. Augustine and St. Augustine wrote that book over a period of three or four years. A bishop of North Africa, he completed it around the year four hundred A.D.. And you know, the saying like, oh, he's not a saint, but, well, Saint Augustine was a saint who was not a saint. He was really and was really hard on himself. And so the idea that, you know, even a fascinating saint can still be tough on himself. I thought I thought that was kind of refreshing when I first read it.

Speaker1:
Fantastic. Thank you. The author of the first book, first name was Dan Sullivan. I thought my pen was giving me fits. So, look, I was asking everybody to do themselves a favor and take notes. I myself run this whole show producer. Director. Some would argue talent. I don't know, maybe. And so I love to get these kind of recommendations from people like you, Alex, because here's the thing, and this is what I recommend everyone start getting the habit of doing when the show is over. I'm going to go back to my notes. I'm going to find that book, especially the first one and actually the second one, too, because I don't know if it will be on Audible. I'm sure it's not by the author, but not read by the author. But I go to Audible and I actually put them in my library. I order them that moment after the show is over. And so I'm building my library. Whether I'm going to get to it right away or not is inconsequential to me if it's in my library. I know that I got a great recommendation from somebody that I know or had on the show

Speaker3:
With my mom. I read a couple interesting books, too. I read the young biography of Sarah Huckabee. Sanders, former press secretary at the White House, is running for governor of Arkansas. I also read a collection of interviews with Lee Kuan Yew, the former prime minister of Singapore. And the book that I'm working on now is actually by my friend George Lucas, American Sunshine, Rays of Hope and Opportunity. I got it right here with me. He and I share a passion for community economic development. And so, yeah, that's the latest one I'm tackling.

Speaker1:
Fantastic. And as we go to the show, the folks that are watching and listening, they're going to realize what a phenomenal individual this guy over here, Alex Talca, is because of how he goes about business, his philosophy. And we're going to get into that here. So stay with us. Don't go anywhere. We're going to be here for a little while, having some fun and dropping some knowledge bombs. That'll be Alex doing that. Absolutely. So when it comes to business, you know, it can you know, I've spoken from stage for years, and until I started doing it, I didn't realize how unbelievably physically taxing it was. I mean, I got done. I was dripping wet with sweat and I was exhausted. I gave it everything I had. And that was after like a 30 minute segment. And I'll never forget my mentor. I got back and I was like, man, I'm I'm beat. And he would do these seminars two days long, all him all the time. I'm like, bro, how do you do that? And he's like, Yeah, you got you got to learn how to pace yourself. And he just smiled a knowing smile that he had been there. The thing is not just speaking or speaking from stage, but becoming a very successful person at anything and mastering it. It takes it takes physical energy to think as well and and to be on top of our game and to be, you know, to work out and to get rid of the toxins and to get the endorphins flowing. The best the best coffee is a quick workout. You know, if you need to get a jolt and move to the next thing. So for you, how it's physical fitness played in your life when it comes to executing your business successfully and maybe how is it also impacted your personal life?

Speaker3:
You know, you're right, thinking and speaking is exhausting chess masters lose weight playing chess. Think about Robin Williams in Dead Poets Society. He wasn't selling product. He was selling poetry in that movie. And he was still getting up on chairs and tables to reach the hearts and minds of young people. So, yeah, my wife is the much more naturally active person. She skis, she runs marathons and some ultramarathons. Now she's gotten our young children into kayaking and skiing and all the rest. So she's a wonderful example in that regard for me. You know, it's pretty low impact stuff, walking and walking and talking and getting in my steps, although I don't count them. I might at some point. I don't now, you know, I realize that I am the kind of person, you know, some entrepreneurs seem to operate on no sleep and to almost, like, resent sleep. I'm somebody if I sit down, I can not if I have no problem putting in some sleep to recuperate or napping. But really, if I get up and out, I'm moving. Yes, I'm moving because my mouth is on the motor. That's a little tribe called quest to balance out the. Heavy metal earlier, there's some old school hip hop for you, but but really, if I get up and I start walking and talking, I find out that I'm happier. I'm more emphatic in my speaking, and that goes really well. So I've run three marathons myself without training because I'm stubborn, stubborn as a mule and slow as one, too. But but I but I have some longer walks and some tracks in me and I really just enjoy any kind of movement.

Speaker1:
And so that's that's a great point that we can use for folks that does when I say that successful people, they take care of their body, it doesn't mean if you're a guy that you need to become a chiseled body builder like Arnold was from back in the day. Schwarzenegger or as ladies, it doesn't mean you need to be a supermodel. It just means you need to move on a regular basis, whatever that whatever is effective for you. Just be sure to do it. And I forgot who it was. It was a special guest that came on on this show who made a statement about they said if you had anything like a real pressing thing, he knew it was going to take energy. But, you know, it didn't really feel up to it. It wasn't as well as arduous task. He said he would just workout right before it and then he would plow through it like there was nothing. And so I'm a former certified personal trainer and I understand it completely, that once you work out, you're set for the entire day. If you do in the morning, late in the afternoon, do it right before you hit those arduous task and revitalize after the noon doldrums, after lunch, and you go through that little period of sleeping.

Speaker3:
Perfect. I got a strong recommendation. So if you're a walker and you just need to get moving and take that first and second or third step, you listen to the old R and B song. Hold on, I'm coming by. Sam and Dave. The groove of it is really good in terms of just starting to move along. It's like almost like an elliptical getting going. Dun dun dun dun dun dun dun dun dun dun. I'm on my way. And so just that whole. Hold on. Come in, you know, just getting after it with a few steps, I take that it's a good walk,

Speaker1:
You can even go double times that and actually maybe run to jog.

Speaker3:
Yeah, you got to put on Black Eyed Peas, you know, that gets the beats per minute. Really doing. That's really good when you're trying to run a marathon.

Speaker1:
Love it sometimes. I will when I go to work out. I love to do some cardio. I don't go crazy with it. I do. It's a warm up for me to get the blood flow and max of 20 to 30 minutes max, most time would be 10, maybe 15. And during that time, when you're working out, you know, and you're actually lifting, let's say you're doing curls. A lot of people don't understand this or recognize that you have better results if you concentrate on the muscle itself that you are working on. So if your posture and your biceps, if you're getting more performance out of it and it's going to grow faster and get bigger. So you need to concentrate. That's whole point of that. When you're on a treadmill or something that's cardio, there's nothing to concentrate. It's just mindless movement. That's when I pull on an audiobook or sometimes music. It just depends on the mood. But that's a great time to get an audio book. If I'm doing an audio book and it's a good one, I'll keep running longer. Yeah, an incentive. But if it's a bad one, I'm done in 10 minutes.

Speaker3:
Wow. Well, well, then you have a report on China by Henry Kissinger. It's over a thousand pages and it's really good,

Speaker1:
Right on a page turner, as they say. Hey, Fred Silva Welcome. Right. Great, great. From YouTube. Welcome to the show, Fred. So you guys stay on in the end so you can win that five night vacations data, five star luxury resort, another plug for the big insider secrets, because they're the ones that sponsored us and enabled us to do this every single week. Oh, my goodness. So I want to pivot a little bit toward what you what you do, what your masterful at doing. I know that from our talk before the show, you're kind of venturing into a new realm for yourself and you seem pretty excited and passionate about it. And so if you don't mind, if you could just kind of explain to the folks what you're about to venture into and maybe what it could mean for them so that they can see how can I fit into that? Maybe.

Speaker3:
Yeah. So I've been an attorney for 14 years. I started out as a financial services trial lawyer and I've taught finance and I've been a producing financial advisor for the last two plus years. I've been doing a lot of personal private capital and joint venture investment in real estate as an outside business activity. But I'm fortunate to have worked out an arrangement now where I can actually syndicate and fundraise for some of my deals and my larger deals. So I've had to keep some of what I've been up to a compliant secret for about two years. But now we're really looking forward to inviting more limited partner investors in on some deals. And some of the apartment projects that we're looking at are some midsize to larger apartments in Atlanta, Georgia and the Carolinas. New Hampshire is home for me, but we've developed a ten state footprint for real estate investments, my partner and me over the past couple of years. And that undoubtedly is going to increase.

Speaker1:
Yeah, fantastic. And then as we were talking before the show started, I was kind of drilling down and asking, so your target market, what kind of investment are folks looking at who can do this is going to be the big corporations, the million dollar corporations? Is it going to be the small business person that's crushing it, pulling in five hundred thousand or more a year? Or is it more addressable, amenable for other people to also invest and get involved with you?

Speaker3:
Yeah, I feel really comfortable being in New Hampshire. Part of why I moved to a small state from New York City is to have the comfort level talking with big decision makers and representatives of big organizations. So I've met presidents, I've met billionaires. I've represented Fortune, one hundred companies in litigation. So can we be open to institutional money and family offices? Absolutely. But I do have a huge heart for not only affordable housing, but affordable investing. And so I was with two students of mine earlier today who I'm mentoring. I'm really interested in having some younger and earlier career professionals able to get in on syndications and joint ventures. So we're going to be pushing down some of the minimums where some real estate players measure themselves by how big a minimum check and they pull off a deal with fifty thousand dollars tends to be the national minimum for a syndicated apartment investment by a passive investor. And I've seen places that once they can do 50, they push for seventy five thousand or or one hundred thousand or what have you. I'm more interested in how low can I go.

Speaker1:
And that's what really resonated with me, is, you know, you're out to help people especially, and you're commenting that you wanted to be able to get younger people in the investment game sooner by making that entry point more attainable. And I just thought, man, I just so love people like you that are there not just for themselves to make a quick buck. And those that say 50 grand or more less because of ego, I charge more. Right. And you're not about that. You're about the people first, not about you or your ego. And that's what really resonated.

Speaker3:
I mean I mean, those people have some sense that that their audience has the money because, you know, the SEC and I don't mean the fun football conference. You know, the Securities and Exchange Commission requires accredited investors for certain investments that are marketed in a certain way. And that means a million dollars net worth out of your primary home or a few years and making a couple hundred thousand bucks. So when people talk like it takes money to make money, it doesn't only mean that you have to invest in your business. But sometimes, like there's a there's a critical mass of money that you have to have to be let in. And that's done for certain, I guess, protecting people from themselves, consumer protection reasons. But there are certain types of deals that really limit the number of non accredited investors that can get in on certain kinds of deals. So not only do I want to drive down the minimums on some of the syndications that we're working on, but we're going to continue to joint venture and that includes single family homes. That's another area where I'm a contrarian. A lot of other people in the name of scaling go for bigger and bigger and bigger properties. There are a number of cash flowing markets that our team believes strongly in, not only for the performance of those properties in those markets, but for the way that people can learn about investing and get going with smaller dollars. And that's decidedly possible in certain markets that we're in, like Birmingham, Alabama, for example.

Speaker1:
You know, that's phenomenal, I mean, because so many people that have achieved a good level of success like yourself, they would keep going up, up, up and keep catering to increasing their prices, whatever their services are, or going for the bigger fish and continuing to grow their business that way. And I hope you're doing that also to help grow your business even more so you can serve more people. And here's the thing I love. I want nothing more than for Alex to be rained upon with wealth and cash. Why? Because what he's doing right now, because if he makes more money, he can scale and help more people. That right now may not be privy to the whole real estate investing game

Speaker3:
Or anything that shout out. I got to give somebody who a business role model for me in pursuing that approach for our real estate group. And that's Charles Bindon, senior strategist and financial adviser with Scott Financial Planning, which is the Ameriprise franchise that I was with the last few years. And he acquired and built a substantial book of business. He's a remarkable financial advisor, but he doesn't have account minimums. He is a nationally ranked financial adviser. You'll see him in Barron's, you'll see him in Forbes, you'll see him in Boston magazine. But if somebody wants to open a really, really small account, he'll do that all day because he knows full well the dignity of every individual. But also, as a practical matter, you know, some of those people might have outside accounts or come into certain situations or refer family members. And, you know, it's been it's been pleasant and it's been pragmatic for him to to grow a remarkable financial planning practice in that manner. So that's something that I'm absolutely emulating. You don't find you don't find a no account minimum financial adviser who is with a group that is now close to a billion dollars in assets under management.

Speaker1:
That's the way to go chop. Giving credit where credit's due, I mean, all of it, so and this is great because it's showcasing the kind of person you are, the integrity you have, your character. I mean, you're a family man. You have a sense of humor, which is always good. And the most the most enduring part to me is it's so blatantly obvious that you want to help the quote unquote, little man, little woman, whatever, the ones that don't have, you know, a whole lot of just cash laying around to go invest. And you're you're giving that open door to those to get in and learn about an industry so that they can crush it and become as well. And hopefully they do a wash, rinse, repeat and continue your legacy and continue to do that for others. Right.

Speaker3:
That's what it's for. It's for my students. It's for my kids. Yeah. Some of the properties are buy and hold. So we're not we're not Flipper's.

Speaker1:
Ok, so OK, well, that leads into another question then, so so you so you're trying to say or would you say that you're not one of those quick kill artists, you're in and out for the money, or are you in it for the long term? And what is the difference to you?

Speaker3:
What is the value of that? I'm not a swing, a hammer. I can't go in like a fake reality show and totally redo a place in thirty six hours. Like, I can't do that. Like, no way. I'm not talented enough. Can swing a hammer. I can't change a tire. My friends now have no spatial relations whatsoever. I'm, I'm good at long term financial planning. I have a sense of history. And you know, there are a lot of business fundamentals that I like to bring to what I do.

Speaker1:
Ok, that's fair enough. I was just curious if you had any opinion about there are folks out there that are in it to just get in and get out of whatever it happens to be, not just real estate, just

Speaker3:
Sometimes they have to sometimes there are people in real estate specifically who will who will flip properties or their wholesale properties. They'll go under contract and then sell the contract to somebody else. What they're really operating on is is lower no capital situations. So that's another thing that I think distinguishes our company, is that our hunger is not born from desperation. My partner, the Dan of Lexton, is a lawyer who owns a law firm and more real estate on the side than I do. And so he's he's a successful person. We have MBAs. We have other people with other levels of education. One of things I don't like in investment is when people try to sell you on, oh, invest with me because I've learned from my mistakes. I lost a ton of money in the stock market and I learned that this is the way that logic does not follow all the way through. Just because you were really, really bad at something and now you're doing something different does not mean you're going to all that good at this thing. There are certain people you can find who have been successful in multiple domains, you know, and I'm fortunate in the real estate investment world to be surrounded by more broad based winners than I have in any other approach to an industry that I've ever done.

Speaker1:
Now, when you say surrounded by broad based winners, you're talking about individuals that are helping you and teaching you or

Speaker3:
Well, I should say, because I'm such a forward person that I follow them as opposed to they're surrounding me. One of things I was really fortunate to do through covid was to not rely on any one conference or any one boss to call me in or not allow me in. I was able to get out and about and build personal relationships with some really impressive local leaders. So I feel so good about what we know to be going on in North and South Carolina, in Kansas City, where I have super, super close relationships with people. So yeah, I surround myself with people who I fly out to say I've always my mother said to give my mother some more credit. She always said, have a cookie, be my friend. So it's like just remember the way you used to, like, make friends as a kid or like little little things like that, like it's still work. So you give people gifts or you say, I like you and you're complimentary or in your specific ways, your compliments. So they know you're not a sycophant, you know.

Speaker1:
You know, it's coming, Alex, I told you it was going to come here we go. Yes, yes. Alex Talcott dropping bombs of wisdom, smart bombs, knowledge bombs, it's all coming down. I mean, everything you're seeing is so unbelievably of spot on. And I hope the folks that are watching this now and those that are listening or watching the recording either or at the end are taking really good notes. He said some amazing things right there. And I hope you realize I'm going to I'm going to amplify a couple of things he talked about. He said the word relationships more than once. I think I counted three times in just that one little segment and that goes to show what works today. And I think it's worked from the beginning of time. It's one of those constants that when it comes to marketing, marketing, there are forms of marketing that are working today that won't be working in 10 years. And 10 years ago, there were forms of marketing that we're working that aren't working today when it comes to building relationships. I have never, ever heard of anyone saying that, oh, my business, because I built relationships. That's not what's going on. Building relationships is so vitally important. And this goes out to a lot of the Internet marketers out. There aren't one. I'm one of those that where I didn't want to talk to people. I don't want to build relationships. I just wanted to get lists, build my list up to many, many, many thousand and just blast them with emails and hope to make money from that. That's what is not working today as well as it used to in the past. And now it's working more and it's just always work. But people are focused on it. More are building relationships like Alex is doing.

Speaker3:
And then let me give us some specific examples, because I'm I do think for some people, like building relationships gets repeated a lot. It's kind of like networking almost. And for some people who are not natural networkers, when they hear networking, sometimes they hear it in a way that's not intended. It's like I go network, go figure it out. The Career Services Office isn't here to be a placement office for your own network. And it's like, well, people don't really, like, know how to do that. What I think is some of the relationships that I have built. Through covid, you know, I can think of one person in particular who we've built our relationship in some ways through prayer. I know that he's a person of faith and I know that I've prayed for him and that he's prayed for me. And when I've gone to visit him in market, we went we went to mass together. He allowed his family was generous enough to allow me to, you know, to join his family and pray on a Sunday morning. That was really special. Another person is really special to our company. I graduated law school and is a real value oriented person and wanted to get scuba certified, but that was kind of expensive. So that was graduate law school graduation present scuba lessons. And so that's kind of fun. So I like I like. I like gift giving. I like compliment giving. I like sharing special time together. You know, relationship building and networking doesn't have to be swinging golf clubs.

Speaker1:
But it could be

Speaker3:
With me and my mother in law did get me golf clubs that have been used for three lessons and nary a round of golf, ever had an action plan for how to get my first round of golf play? And that is that some of my student interns are college football players. You're big. So if I'm on a course and maybe I'm slowing things down, I don't know if some of those guys behind me are going to be caught up so much. So it's like I got a kick out. So I like to keep some big friends company.

Speaker1:
That's phenomenal. And the other thing you were talking about, you said it again here a couple of times, was about gift giving, giving gifts. And it's interesting you say it does. It still works. The cookie. I had the amazing Lester Brown on my show not too long ago, and it's been several months. But the interesting thing was when this guy is an absolute sweetheart, by the way, for everyone out there who's wondering, I've had several discussions with him. One time I was listening in, I didn't know that this gentleman was calling him. He put them on speaker on the mic and less didn't know there was anyone else on listening in. It was this really close friend of his and me and all he knew was a really close friend. So that's when you, you know, the real person, when they're acting differently, he doesn't act different. It's amazing. He's a sweetheart of a man. Seventy five still going strong. What happened was after the show, when I had him on, I mean, I was just so thankful and grateful for him to come on. And so I put together some gifts, electronic gifts that were basically a lot of mockups of different books of of his where people would be holding them and all these different scenes where they he could use them. However, he wanted images and a few other things. And the next day I got to call my cell phone. It's less like a little like I don't know who it is. Says that on my phone and the first words out of his mouth, imagine his voice is like, think

Speaker3:
You

Speaker1:
Didn't say hi. I just thank you. And he goes. Wow. Will you please tell me what it is that you do? And it was it was like, wow, I didn't do it to get anything back. I did it out of sheer gratitude. Thank you for for coming on the show and spending your time with me and our audience. So gifts, work and

Speaker3:
Small gestures to. So if you think about realtors a lot, they don't get paid until the closing day. And so they're out of pocket for quite a lot. So if you have somebody showing you around, especially where it's been really hot and humid lately, you know, by your by your realtor, nice coffee and they'll remember it.

Speaker1:
Gotcha, and it doesn't have to be grandiose, does it? It's just a little it's a thought. It's a thought behind it, you know, it's like, why don't you just give me a two dollar coffee? Thanks so much. I was awesome. I appreciate that. It's like, how many times have you been. Have you ever been to one of these, like a seminar or something where the whole company is there and maybe like a network marketing group and they're giving away t shirts for people who have accomplished a high level of something. And these people are going absolutely buzzkill over the fact that they got a t shirt on.

Speaker3:
I go nuts for that. That doesn't get old for me. That does not get old for me. I have a student who got a job with the parent company of Milwaukee Tools, and I really like traditional American branding. So those red t shirts with the kind of like Shaoqi electrified Milwaukee. He was working as a brand representative for their relationships with Home Depot. So it was like his job to give away cotton t shirts. And for me, it's like the best thing he could have possibly given me. That's one of the worst things about graduating. Getting out of college is you don't get as many, like free t shirts and free pizza anymore. That's why I'll never leave. I'll never stop teaching. I like to sweat each other.

Speaker1:
You go you can hang out with the college kids and you'll get something pretty good. Oh, my goodness. Let's see. So one of the things we talked about in the beginning I talked about was all these skill sets that were required to master and those were kind of broad and high level skill sets didn't really go deep. For you, I know you're in in the real estate investing, you've done it practice law you've taught. But when it comes to being a successful entrepreneur, if you can think of the three skill sets you have acquired that you have nurtured for yourself, that that are working for you, that you would say are the top three and you would recommend others to spend time in getting better at these areas. If you can think of three, what might those be?

Speaker3:
Yeah, I might conflate skills, knowledge and resources, I think one of three things that all entrepreneurs should have to really get going. You should have clients. Or customers like Steve Jobs might say, it's like, well, you know, they don't have to really get the project, we don't need to have people who are market shown to be lining up to get this device that they can't even imagine yet. So you need to have either a jobs and confidence that the, you know, those customers or clients will manifest or you want to have a pretty good idea that they're going to be at the ready, that you're not going to say to the it's business time and you have like empty tables or the equivalent. So having customers or clients at the ready or foreseeable I think is really important. I would say leverage is something that you should have or have a developing, developing comfort level with because it's not hard to make money. We have very low unemployment. I'm talking with you from the state of New Hampshire, where we have two percent unemployment. We don't even have a state minimum wage. We're pegged to the old federal minimum wage of seven dollars and twenty five cents. Yet a Dunkin Donuts in the poorest town that I know is hiring people at 13 bucks an hour. So so getting paid is not the problem. The question is, are and if you can't really leverage your time, you've got to leverage some other stuff to make being an entrepreneur expansionary, having having a multiplier multiply experience that most entrepreneurs really want. And then maybe a third thing would be, I would say.

Speaker3:
Big productivity goals, because I think if you look at where the jobs economy is and is going, those among us who are capable of working and producing. Ah, and I think society is going to increasingly depend on us, there are very few things in society now that are that are almost like sticker price for everyone. And, you know, like it or not, I would hope that some of us, by way of education and training and experience and success and blessings are maybe in a position to be among those people who can pay sticker price for like college tuition for their kids. And so to be able to pull off some of those things, you know, you're hard pressed to wind up with low dollar, no revenue and profit goals. So Peter Thiel got some flack for the phrase single digit millionaires. I actually firmly believe, especially for me, I live in the Northeast, have a few kids, have an idea of education and other support that I believe in providing for my family. You get well into the millions in terms of goals. You know, if you think about it in more like household family, financial planning approach, you know, you talk about million dollar propositions with people all the time because you have like a fifty thousand dollar salary. You get 30 years of term insurance. That's one point five million dollar death benefit. It's just like, yeah. So I think that I'm really, really used to not being bashful about talking rather openly about millions. I think millions are for the millions.

Speaker1:
I can't agree more. Gosh darn it. OK, you know, it's coming. Those were three. Amazing. Yes, no entrepreneurs were harmed in the filming of this show, but I love the what are you talking about? They must they must get clients, must have customers more like they need a proven product that people will want or service that before they get going.

Speaker3:
I'm glad you asked, too, because I'm really sympathetic to some of the people who are really encouraged. I actually think that, you know, sometimes entrepreneurs get too much credit. They think about politicians who champion the small business owner. Well, you know, most people don't own a small business. Most people work for a small business. So I think that there are opportunities for entrepreneurship in entrepreneurship, you know, lifelong learning, professional development. I think that's important for for people who don't just make the sacrifice of owning their own businesses. But I do think it's also really. It can be really confusing because some people have the sense that to start a business like you go out and buy your business cards first, you know, and it's like, you know, before you get Vistaprint or your local of money, you make sure you got people to give them cards, do.

Speaker1:
So I've seen this so many times. I'm sure you have to, Alex, where you and your friends and colleagues, where they have that idea. That idea. Oh, my gosh. This is all I got to tell you about. This is the greatest thing since sliced bread, as they would say. And I just say, well, really, how many how many people have told you they like it or not? Yeah, I don't know yet. I just think it's a great thing and I'm going to spend one hundred thousand dollars developing it and all this money to like you might want to wait, you might want to wait. You might want to prove it. You might want to validate it before you put it out to the market. In fact, you need to test it and go out and see who wants it, how many

Speaker3:
That can be distorted to other people, because when other people see other people doing that. They don't stop and think, oh, did that person live within their means and save and do they have it like, are they leveraging a little bit of side hustle money to tinker with some of that stuff, or especially in a place like it? Like in New Hampshire? Like we're pretty modest, like people average person walking down the street. You know, you could have very easily 20 extra two hundred sex differences in net worth and kind of all look the same for that. For the most part, you don't know other people's situation. You don't know what they have or don't have.

Speaker1:
And I think it takes a systemized approach to it all because, I mean, I just I'm launching a new project myself. I'm not here to pitch it. I'm not going to say what the name of it is. But I went through a series of 14 one hour zoom sessions with my peers, asking them very pointed questions. Is this the pain point that this is solving? Is it big enough, in your opinion, after giving them some background? Well, again, it was an hour talked each time and then the price point of it, all of the little details without going into detail. Does this seem like a good idea to you? Is this something you think that I would I should go forward with and invest my money and resources and time? And and if you don't get resounding. Yes. And maybe you need to rework your idea and or just.

Speaker3:
Yeah, I would set the expectations again. It's not just like making money because of course, you can make money, you can get money, know, doing a paying job. So one of things that I say in the investment world sometimes as if somebody is ever going to mention something to me that they think might be a good idea or a good way to put some capital to work, to make money, I'll always say to them, you know, remember, 11 percent is zero percent. And by that I mean, you know, the S&P. Five hundred, you know, maybe you can get nine and a half percent. You'd be it a little bit. We're working with a good adviser or you have some financial experience. So I know index funds will make me money. I need to make money in an expansionary way, especially if I'm putting any time or other capital into it, because the default is still pretty good. And so even if you want to get a little bit more overweight on the real estate side, you can do that by way of mutual fund. You know, you don't have to go out there and swing a hammer or write a big check on a discrete project, know there are all kinds of ways to make money and in real estate and all sorts of other ways.

Speaker1:
And you're the one we talked about goals, you know, making big productive goals, and that that one resonate with big time, where a lot of people, you know, don't listen to other people. If you say what my goal is to make X million dollars in the next year, how are you going to do that? They're going to give you all those those things. But the thing is that I learn at a deep level is you get what you focus on. So if you're focusing on ten grand a year, well, then you're pretty apt to hit it if you're focusing on 10 million a year. You could hit it because you're focused on it if you're pooh poohing the idea before it even starts, you're never going to make it ever.

Speaker3:
I'm going to give a shout out to Logan Freeman at RFT W Investments because he makes a really good point about, you know, are you. A real estate investor or do you work in real estate investment, and that's a pretty big distinction because there are a lot of people who are looking to maybe replace their W-2 job with a certain income. No. But it takes certain knowledge, skills and work, hard work and smart work. To make it really worthwhile, I think if you don't set some of those big productivity goals, you might find yourself a working sucker who doesn't doesn't quite have enough to have financial freedom and to have some anxiety allayed, but not be so hard up that they qualify for all sorts of of grants or programs. They could be in that that working sucker middle and so, like, go for it.

Speaker1:
Love it, love it, love it. I just checked the time. I cannot believe it. We're already at the end. But good thing I don't I'm not charge for studio time. So one of the things I like to close the show with and we still have a couple of things to take care of here, Alex, but one of the things I like to close the show with is a one particular question that I ask all of my guests, experts. And the reason I do that is because the answers have been quite interesting, quite profound, personal and and just amazing. And I think people get a lot of value from it. And before we do that, though, and close it out, I did promise everyone who stayed with us live. That they could win a five night vacation, stay at a five star luxury resort, compliments of the big insider secrets, and here is exactly how to do that is coming up on your screen. All you need to do now, now you can. And you have our express permission to take your attention away from this particular screen at this moment. Open up a tab on your computer or on your phone. Go to our wipe dot.

Speaker1:
I am for vacation. All you need to do is enter your your name, email address and a cell phone number so we can text alert you of the winner. Our IP that I am for vacation. Phenomenal, phenomenal vacation days. This is not something where you'll be run into the basement. As we bring Alex back on camera, you won't be ran into the basement and pitched a timeshare for the half of your duration there. In fact, you're not pitched anything. It is a true vacation stay. So I can't wait to see who the winner is. Go ahead and do that now. Go ahead and just type it in. It won't take long at all. And we're coming back with Alex and we're going to ask that that wonderful, amazing question. Now, Alex, this question is very profound. The good news is there is no such thing as a wrong answer. It does not exist, period. In fact, the opposite is the truth. The truth. And that is the only correct answer is yours. That is the only thing that makes it personal. That's it. It's unique to you. In other words, it's not like any in your personal life. So with that. Are you ready?

Speaker3:
Sure.

Speaker1:
Always ready, aren't you? All right, here we go. Alex Talca. How do you. Define. Success.

Speaker3:
I don't I consider life a blessing and. I think. For some reason, I'm thinking of Matthew McConaughey. All right, all right, all right. Your future governor of Texas, if when Matthew McConaughey accepted the Academy Award for best actor in Dallas Buyers Club, one of the things that he talked about was he always has somebody who is chasing. And for him, the person who he's chasing is him in 10 years. Hmm. So to me, my sense of success, my definition of success is me in 10 years. And then, Brian, when you ask me that question in 10 years, I'll probably say me in 10 years.

Speaker1:
You know what's coming? Yes, indeed, ladies and gentlemen, it is our next tell cut and real quick, we're going to put up the best way to connect with them, I believe, is through Instagram, if I'm correct with that. And I'm going to put pardon.

Speaker3:
Yeah, absolutely. That's great. Yeah. Lexton, sorry for Lexton. Real estate is a good place to see what and where we're up to. We tease some of the different real estate markets, some of the people in the projects and the priorities and passions. And I'm just going to keep saying these words. Yeah. Yeah. So that's a good that's a good place to check us out. And you can message us through there if anything in particular strikes your interest and don't want to do a public comment, just message it. I myself monitor the message inbox quite frequently.

Speaker1:
So if you're at all interested in getting started in investing in real estate, maybe you have done it before, but now you want to go with somebody of super high integrity, then reach out, follow them on Instagram, message them. You can tell he's a very approachable gentleman. He's high integrity, great character. I didn't know until the show that Lex, I'm guessing that's the last part of your name. And Dan was

Speaker3:
The first time. Alex he's the Daniel not not super clever. There's a lot more symbolism and depth to some of our other affiliated companies, but that one we kept pretty simple. And we have primary colors for crying out loud in the logo. Nothing very fancy there.

Speaker1:
I think it's pretty darn creative myself. I have nothing bad to say about that. There's nothing wrong with it. I love creativity, so appreciate that. And you know what, brother? Appreciate you. You're an amazing guy. And you came on and you did so much just to hold true to your commitment and to be here on this show. I do appreciate that so immensely. I cannot tell you so. Thank you, my brother. Appreciate that. And everyone has been watching live. We appreciate you. You spent your valuable time with us and I'm glad you did, because there were some incredible wisdom bombs and smart bombs and knowledge bombs being dropped by Mr. Talcott here this evening. That's it for us tonight. We will be here again very, very soon. We're on every single week, sometimes more often. And if you would like to be automatically. Reminded when we go live, when we're about to go live, then go ahead and go to the mind body business, show dotcom, it's every one of the words you see there, including the the mind body business show dotcom. And there there are buttons throughout the page. Just click one of those buttons that takes you straight down to a form.

Speaker1:
You fill that out and all we do is let you know in the next show is we don't promote or do anything like that, try to sell things on it. It's just there to say, hey, you wanted to know when the show is going live. And we're announcing, hey, we're live right now. Come on. And we give you the link. So it makes it easy for you to go hunting all over Facebook or YouTube or all the other places where streaming it is. Sit there and watch it, go straight to it and interact with us and would love to have you there. All right. On behalf of the amazing Mr. Alex Talca, I am the host of this show, Brian Kelly. I don't know what I was going to say or something. That's good bloopers blooper reel. It is the mind body business show. And I can't wait to see you all again next week until then. So long. Everybody be blessed and we'll see you next time. Thank you for tuning in to the mind body

Business show podcast at w w w dot the mind body business show. My name is Brian.

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Alex Talcott

Alex Talcott, J.D., is a founder and Co-Leading Partner of Lexdan LLC, a real estate private capital company with residential doors in ten states. His investments are active and Aggressive Passive™. He maintains a private client law practice and has been managing partner of a financial advisory with over half a billion dollars in client assets. Talcott has taught finance and business law at the university level for a decade and is a graduate of Dartmouth College and Notre Dame Law School.

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