This Investor's Warning: There Won't Be a Middle Class Left

0:02Um, everybody here is looking to make money and very hard times. So I tip my hat literally to you guys for showing up and I think everybody feels in their gut we're going through a significant transformation and making money is hard and you know, what does the future look like and What's this technology going to do to our industries and so forth? So I think As humans, I mean at some level they're trying to take our humanity, but I started this business I'm a second generation Italian American. Founded it 27 years ago right out of college. I was a top basketball player. I paid for myself through school.

0:44Was very entrepreneurial at that point. Learned a lot from my dad who built a barcode reading company that was, we grew to about a billion seven in value and sold it. He was very close with the Walton family. They had three cash registers at the time, if you understand. And people thought they were going to fail. They used our technology and they're in a low margin business and became the wealthiest family in the world Today we've structured about 2.3 billion of equity capital into everything as we move towards this transition We're focused heavily on a real estate 80 % We don't think people can live in their phones So we're currently the largest player in affordable housing and an MH build the lease strategy We have 6 ,500 entitled lots in Houston and Dallas through an affiliate We're restructuring probably half a billion or billion of multifamily debt for various sponsors We will go in restructure the debt and inject new capital in any form of the stack We're doing large construction loans with very large institutional capital Our track record we did the largest deal in Tennessee history called Nashville Yards It was a four billion dollar deal with Robert Sarver the owner of the Suns to change that whole area We did the deal in Austin that Elon Musk bought we brought in the wealthiest real estate and we brought in the Bren family, and then Elon Musk bought it, and he's running his operations out of there.

2:07We've done 15 ,000 apartments, and then we've done from subprime auto loans and lost money in almost everything you can lose money in. So we're here, we think humans matter still, and we think relationships are still gonna be valuable. I think you need to forward look at operating companies. I think you need to try to get into hard assets because the ability to solve problems and get rich is going to probably likely come to an end. I think soon it's going to be the assets. What assets do you own? And I think we're going to have an ownership class and a peasant class. I don't say that with kindness.

2:42I just don't see the middle class and the higher middle class by design surviving this next turn. And this next turn, if you're not well capitalized, most of the assets are going to trade to the same pools of capital. So for I think for people to stay alive you need to team up you need to really focus on your relationships and find things that can make money for people immediately and get yourself into an operating role where you can sustain yourself. I don't know if you're investing in silver and gold we've been investing a lot of it. We think that's going to be part of the new monetary reset and if you have the ability to get money out of the system do it before they won't let you we're open to looking at any business if it's distressed or very growing rapidly or somehow mismanaged we would look at anything we'll learn any business and we'd be open to providing capital to you and operations if it's that good of a business outside of that I don't know if Any questions on my diatribe before before we pass on?

3:49Well, Dan, you mentioned that there have been some winners and losers Do you have a cautionary tale or something that you'd be willing to share regarding? You know a don't do It's always easy to say it I've lost so much money. It's always easy to say it looking back. I think now you need to be aggressive I mean, the last time hyperinflation hit like this, the richest man got rich in Germany by borrowing as much money as he can, buy as many assets as you can because when it hits, they'll inflate up and you can be able to deflate your money. So I think you need to get into multifamily, cash-flowing assets, silver, gold, commodities, stuff like that.

4:29I think the technology and a lot of the high finance stuff, like a lot of the stuff I'm doing, I don't think that'll be around. I don't think it'll be disremediated with tokenization. and operators will be able to save millions of dollars on buying and selling assets efficiently. There is something to be said for a strategy where you invest in assets and they inflate, and then you pay down the debt in deflated currency. One thing you can count that's happening is inflation. That's going to count. Hi, I'm Richard C. Wilson. Our community has closed over$1 billion of transactions. We have over 16 million registered members across 100 plus LinkedIn groups.

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