Building passive income is often easier said than done, but Bronson Hill is with us here this week to share some insights on the best way to approach that endeavor. Bronson Hill is the founder and CEO of Bronson Hill Equity. He has raised over $15 million for real estate investments and is the general partner of over $60 million worth of real estate assets. During the course of his career, Bronson has spoken with thousands of investors and he teaches us some of the lessons he has learned from all of those encounters. In this interview, Bronson shares the challenges he went through in early childhood, and how overcoming those challenges has made him who he is today—someone true to themselves. Authenticity is exactly what helped, and is continuing to help, Bronson build his empire in multifamily syndication. It is also what’s allowing him to help others achieve their passive income goals. He tells us the story of how he started in passive investing and shares valuable tips on how to generate passive income through real estate. With that, we also talk about the importance of networking with other investors — not just for sealing deals, but also for learning more about passive investing as a whole. While we only get to cover passive investing in a nutshell, Bronson’s advice is a gem for people who are sitting on money and don’t know where to put it. So, if you’ve always wanted to try your hand at passive investing but don’t know where to start, this episode is definitely one you shouldn’t miss.
Building passive income is often easier said than done, but Bronson Hill is with us here this week to share some insights on the best way to approach that endeavor. Bronson Hill is the founder and CEO of
Bronson Hill Equity. He has raised over $15 million for real estate investments and is the general partner of over $60 million worth of real estate assets. During the course of his career, Bronson has spoken with thousands of investors and he teaches us some of the lessons he has learned from all of those encounters.
In this interview, Bronson shares the challenges he went through in early childhood, and how overcoming those challenges has made him who he is today—someone true to themselves. Authenticity is exactly what helped, and is continuing to help, Bronson build his empire in multifamily syndication. It is also what’s allowing him to help others achieve their passive income goals.
He tells us the story of how he started in passive investing and shares valuable tips on how to generate passive income through real estate. With that, we also talk about the importance of networking with other investors — not just for sealing deals, but also for learning more about passive investing as a whole.
While we only get to cover passive investing in a nutshell, Bronson’s advice is a gem for people who are sitting on money and don’t know where to put it. So, if you’ve always wanted to try your hand at passive investing but don’t know where to start, this episode is definitely one you shouldn’t miss.
KEY TAKEAWAYS
1. Stay true to yourself and live an authentic life, everything else will follow.
2. Investing in real estate does not automatically translate into passive income.
3. Networking is a powerful tool for generating passive income.
4. People can sense if you do not have their best interests at heart.
5. Getting started in passive investing can be uncomfortable at first—give it time until you get used to it.
LINKS
Bronson Equity Website: https://bronsonequity.com/
Steven: [00:00:01] What can we learn by getting the mindset of over 1000 investors? Well, today's guest Bronson Hill has done exactly that speaking to 1000s of individuals to understand what are some of those biggest pain points, some of the things that are most important, and really what is a passive investor really after. If you're an operator, absolutely critical to get in the mindset of an investor so you can really serve them. If you're a passive investor, it's critical to understand that some of these thoughts and beliefs that you have are some of the same that many other people feel are very valuable episodes, let's get right into it.
INTRO: [00:00:40] This is The Investor Mindset Podcast and I'm Steven Pesavento. For as long as I can remember, I've been obsessed with understanding how we can think better, how we can be better, and how we can do better. And each episode we explore lessons on motivation and mindset for the most successful real estate investors and entrepreneurs in the nation. Today's episode is sponsored by Vonfinch Capital. If you're interested in investing alongside me in the same type of real estate opportunities that I personally invest in, then head over to Vonfinch capital and join their private investor network. You can do so at Vonfinch.com/invest. Join me on that next deal, I look forward to seeing you on the inside.
Steven: [00:01:28] Alright guys, welcome back to the Investor Mindset Podcast. I'm your host, Steven Pesavento and I'm really excited today we've got Bronson Hill in the studio. How are you doing today, Bronson?
Bronson: [00:01:38] I'm doing awesome, Steve, I'm so excited to come talk with you about investor mindset and just mindset in general, I love talking about mindset.
Steven: [00:01:45] It's a wonderful topic and for those of the listeners that don't know you, Bronson runs Bronson equity and he controls over 60 million and multifamily assets. He runs a large multifamily meetup in Pasadena California called Phoebe, which is one of my favorite meetup groups, the Phoebe groups is where I got my start. And he really understands the investor mindset. He's spoken with over 1000 investors on the phone and has raised over $15 million for a real estate deal. So today, we're going to be diving into the mindset of an investor, what are some of those lessons and tips that you've learned after speaking with so many folks along the way? And we'll dive into your mindset as well. Are you ready to get started?
Bronson: [00:02:28] I'm ready. Let's do it.
Steven: [00:02:29] All right. So before we dive into the good stuff, I would love to start with the best stuff, by starting by taking a look back at earlier in your life, what events or influences from your childhood shaped who you are today?
Bronson: [00:02:43] That's a good question. I think going through some adversity as a child, my parents actually were divorced when I was young and so that had a pretty significant impact on me, I was pretty shy. And so over the years is basically learning to overcome shyness and overcome personal insecurities and just become who I am. So whether it was because of things that happen to my family, or maybe it was because of just obstacles I faced in my life that's been a real challenge for me to continue to overcome.
Steven: [00:03:14] Yeah, it's so interesting how early on in life, these things that happen end up making a big impact on who we are personality wise, as a driver, maybe something goes holding us back, but then that ends up being the thing that allows us to be able to move forward. And it's such a good reminder because so many listeners may be in the same position where they're shy, they don't feel comfortable being public, or speaking on stages or places like this. And here's somebody who's able to overcome that and be a fairly public person.
Bronson: [00:03:44] Yeah, I really think the idea of really being able to own your story, we all have a story, there are parts of my story that I want to talk about. They cause shame or I'd be embarrassed to share or things like that. I'm sure every listener would feel the same way. But really, when we can own our story, and we can say, this is kind of what's made me who I am and allow that to be told like it's vulnerable, right to put yourself out there. And to have people hear your story is the really sensitive part or even just to say, Hey, I'm going to be in real estate, or I'm going to be somebody who's going to do something big with their life, that's really a significant thing. And also the critics come out, but it's important that you stay true to yourself, and you really live an authentic life.
Steven: [00:04:23] Yeah, well, the interesting thing is that, that authenticity by being true to who you are and being more of who you are publicly into others, ends up building a closer connection because people know that they can trust you because you're laying it out on the line versus that feeling of wondering, I feel like something's off. And they know what that thing is once all sudden you're authentic and you're open and they can make that decision, hey, I actually really like this person. They're open and I trust them and that's really important when it comes to working with investors.
Bronson: [00:04:57] Absolutely, I actually it reminds me my background is in sales so I basically worked in medical device sales for quite a few years for over 10 years. And I first started I wanted to sell and go and just tell people about all the benefits my products had but I realized it just didn't work. And so what I basically learned through that is to really have an approach of a helper, somebody who's really wanting to learn about what people are going through, and really try to be someone who's there for people. And you're talking about that authentic heart and really being available and just being who you are. And that has translated to being able to speak with many investors and raise 15 million just that really trying to be authentic, even if I can't help somebody with what I have ,if I help them they might, we might do a deal later or maybe they'll refer somebody to me. And so I just think it's so important that we live true to who we are and we don't really just try to do things for the result just to get the deal done or just to just to get to the next goal. We can run over people with that, and people can really sense when you're not really looking out for their best interest.
Steven: [00:05:58] Yeah, yeah, that's so true. And so I'm curious, you were in a position where you had an opportunity to speak with lots of investors on a daily basis, essentially get plugged into an investor machine, where there's an opportunity to have all these conversations and really get to know people on a personal level and understand what they're looking for. So what I'd love to do for our listeners, is be able to dive in to some of the ways of thinking, some of those mindsets of those investors, and really understand both from the perspective of being able to create clarity for all the passive investors and all those who are kind of going down that same path to know that other people are thinking the same thing, but also for the active investors, the operators that people are working with those folks would be great to uncover what is really behind some of those thoughts and what people are really after. So what are some of those lessons that you've taken away after speaking with 1000 plus investors over your career?
Bronson: [00:06:56] Yeah, so it's really interesting, we have this idea of who investors are, and they're these people with all kinds of money bags are just never really not in touch with reality the same way you and I are, they just kind of live in a different world. But all these people are just regular people, they're working their job, a lot of them are professionals, a lot of physicians or attorneys or CPAs, high paid professionals, we also had a lot of business owners, people, some people were in real estate as well, they had their own single family portfolio looking to get involved passively and then some people are retired. And again, when the people I spoke with said the average net worth was about 2 million, we've had some that are10 to 20, 10, to 30 million in net worth. And basically, they're all kind of looking for a few things, the first thing is to try to make more money without taking up more of their time. And to me, I'd really discovered passive income a number of years ago of the idea of passive income is not buying a house or a series of houses and basically just renting them out like that actually, over time really becomes a part or full time job, you can't really become financially free that way. So if you're a physician, and you're making hundreds of dollars an hour, you should not be on the phone and dealing with toilets, trash and tenants. And so once I realized there are groups that basically in multifamily syndication, or other sorts of real estate investments where they allow for passive investors that people can come and get a deal, basically get to know a group that they liked, develop a relationship with them, and consistently receive a double digit return. To me, it sounded a little too good to be true. But once I started investing and getting involved with it, it was like, man, I don't know why more people don't do this, and what we call alternative assets, I think we really should call like, the real assets they are real investments, they should be the traditional, which is really real estate. And so you kind of got it backwards. And there's just so many so many benefits of real estate and other forms of passive investing. So time is very, very important to a lot of busy professionals, it's very important to a lot of business owners and it's the ability to be able to scale your real estate without taking up more of your time. So if you look at what you're currently doing in real estate, or for the listener, you have a small single family work portfolio, you're running a vacation rental, whatever it is, in real estate, can you scale it if it was three, four, five, ten times as big? Or would you just be like, oh gosh, I just couldn't do it. So the thought of doing that is overwhelming, really considering passive investing is something that can be really transformational.
Steven: [00:09:15] Yeah, it's such a big idea because when people first get into real estate, they always think of a single family house first. I mean, that's the way that I got started, flipping over 200 houses in a short period of time, and really building that scaled operation. But it was something that was full time and I couldn't imagine any other way other than having a full time. People tell the idea that you're able to go out there and you can hire a team, you can hire management, but most of that's bs because for the select few who are phenomenal at operating, and managing large groups of other people to go and execute they can do that, but it's very rare. It's very rare indeed and so even when you're talking about holding on to a single family and people always like, oh, I'm going to hire a manager. But of course, it's going to take more effort because you have to then manage that manager. So what are some of those other things that you took away?
Bronson: [00:10:11] So yeah, besides time being really, really important, the biggest thing, a lot of people just--it feels very foreign, the idea at least for me, initially too. My background, as working in the medical field in sales, it was I was around a lot of people and again, we're just unfamiliar with it. We know people that do real estate, but we don't know what it means to wire 50,000 or 100,000 over to somebody. People hear stories of Bernie Madoff or other things like, is this some sort of scam, and it's just the returns for what you're getting. It's kind of that-- it feels a little too good to be true. And yet, when I talk to people, the more we get to know them, the more they go to passive investor events or they go to conferences or they are a part of the educational side, just really the networking side for passive investors is really powerful. So somebody's listening, they're like, man, I'd love to be involved in something that I could potentially double my money in five to seven years like that's a pretty regular, normal projected deal. For a lot of us multifamily syndicators, it sounds too good to be true until you meet full time passive investors. And this is what they do all the time that they've been doing it for years and their goal is really to double money every five to seven years. And so once you kind of meet people that are doing it, once you kick the tires, and so we'll have for example, there's a doctor that invested with us, $5 million net worth never invested in real estate. And so what my advice was him to him was, basically take a small amount of money take for you $50,000, for some people, that's a lot of money, if you have a $5 million net worth, that's not a lot of money, put it in a deal, it will probably go just fine. It could go really well but regardless of how it goes, you're going to learn a lot, you're going to learn a lot about the investment, you're going to learn a lot about the temperament. If you're somebody who has to be hands on in every way, maybe passive investing is not for you. But for a lot of people, really what people want is freedom over their time. I have a couple doctors that I know that make over $3 million a year, they do very, very well, but they work 60 to 80 hours a week and to me that's not financial freedom. Financial freedom is you can basically have freedom over your time, where you're getting paid when you're not going to work. If somebody has to go to work to do these certain things and get paid, then it's not actually--you're not actually free in that way, versus you're putting money in this whole other bucket over here called passive income and eventually, it has the ability to either replace or support your income to maybe you can retire or work less or do things how you want. So hopefully, this is a breath of fresh air to somebody listening, thinking like, oh, does that even exist? And the answer is yes.
Steven: [00:12:35] Yeah, it definitely exists. And it seems like these things are so obvious to us when we're in the driver's seat of a deal as an operator, as somebody who lives and breathes real estate every single day, it seems obvious that making a 10, 12, 14, 15% return is like the standard. And to us, it seems like making a 6% return is very, very small. And so it's really important to be reminded that everything in life is in context. And it's in the context of our experience and our education. And frankly, just being familiar with what it means to go out and do these things and having a solid understanding of all the pieces that have to go into place in order to make that a low risk, or an asymmetric risk reward type deal. And so it's really, really important that we are able to bring ourselves back to that place if we are operators when we're talking with passive investors. And it's really important if you're a passive investor and you're feeling like, I don't understand this, it seems too good to be true. Well just take a little bit more time to continue to get to know it, find other people who have already been down that path, who have that experience, who are just like you, and frankly, where you are right now, years before, and then it doesn't feel so strange. And that idea of a network, I think is really, really powerful.
Bronson: [00:14:02] Yeah, and another thought on that, Steven is that, for guys like you and I that are putting deals together, we think a lot of this is kind of shifting gears a little bit. But the idea that a lot of people are out there, and we're trying to raise money for a deal and it's like, we're trying to get something from people. What we don't realize is there's a lot of people out there that really have a money problem and the money problem is I have too much money, and I don't know where to put it, the stock market feels really high, it feels really risky. I don't want to put in bonds or other assets because there's just--I'm not going to get the kind of returns that I need. And so the idea of really being able to provide a service and having that mindset that investors may not invest with me but if they invest somewhere, they're going to be in better shape than if they didn't. And so just the idea that you're coming really into the game with that attitude of being somebody who can help, somebody who can come along and really say, hey, this is something I can help solve a problem for you. And I think a lot of operators, especially when they're starting out or people putting deals together really don't have that mindset. They're kind of like oh hey, if you give this to me, kind of this like lower position when it's like, No, I've got something that people really want. And when you come with that kind of confidence, and that's kind of like what I've developed over the last few years, it's just like, wow, like, we really have something that so many people need right now, especially with risk of inflation, all the money printing is happening. Where do you put your money? Well, my opinion, the best place you can possibly put it is in real estate, particularly multifamily real estate and that's why I love talking about this topic.
Steven: [00:15:25] Yeah, it's funny too because you can tell somebody that you have to come from a place of not needing it, but knowing that you are actually the one who's offering the most value, and not from a place of ego but just from a place of once you really understand that there's trillions of dollars making negative interest rates in bonds, and there's tons of people are sitting in cash right now because they frankly, don't know what to do, and they're looking for a safe place to be able to store and make money with their money. You realize that your deal is actually the prize and so the most important thing of what you said there is that you have to get yourself to a place of true understanding and confidence of knowing that, that is true because if you try to come in and fake it, it ain't going to work. Because people will be able to breathe right through that, they will be able to smell it the same way, we're talking about authenticity before. So one thing I'm really curious about is like, what is one of the biggest challenges that you found investors are facing when after speaking with so many people on this topic, when they're coming to you, when they're looking to invest in something, what is one of the biggest challenges that they face?
Bronson: [00:16:35] So basically, over the 1000 people that I've spoken with personally, we do a little metrics as far as how many people actually invest and it's about 17% of the people that I spoke with actually invested. And the average investment size for one deal was 72,000, for another deal was 114,000, for various reasons. But for a lot of people, really what holds them back is the issue of analysis paralysis, they kind of like I don't want to make a mistake, or I don't want to do something wrong. And so they just analyze deals, they are looking here, and they're kind of active, they're kind of passive, a lot of people really are kind of like, want to be active and want to be passive, but they don't quite know what to do. But what I tell people is you don't have to choose, like, am I going to be active, I'm going to be passive am I going to be--maybe look at five different deals with different operators or get you have calls with five different operators, and then just choose one, just go with one, choose them invest it, try it, get started sooner than later and it will probably again, work out just fine. It may work out phenomenally well but most of the time, it works out just fine. You'll learn a ton, it'll be a great education. And then if you're active as well, you can also do some other stuff as well. So a lot of people think they have to kind of like to narrow everything down. I've had so many calls looking for a year or six months and it really shouldn't take that long. And in the process of actually investing, you're going to learn so much about what it means to invest and if it fits your temperament, if you like it, if you'd invest with this group again, or you'd invest somewhere else. So I think really, I know you're all about taking massive action. So as long as you've been taking massive action, just investing in one deal, and just trying it.
Steven: [00:18:05] Yeah, I think that's really, really great advice. It's important to get to know something so you feel comfortable when you're doing it. But whenever you're doing something the first time, it's going to be a little bit uncomfortable and you just have to make that decision and go forward and learn while you're while you're there. But of course, we want to be able to do that due diligence. So talk to us a little bit about what some of that diligence that a passive investor who is going to make a 50,000 or $100,000 investment might be wanting to make when they're deciding what sponsor to work with.
Bronson: [00:18:35] Yeah, it's interesting Steven, I'm doing a panel on this topic coming up here shortly. Actually read an article that you wrote, I think you had something like 50 questions you should ask when you're when you're getting a sponsor, and so basically a lot of it is just getting to know them, and what are their goals? Who are they? What’s their experience? Has the team worked together? Making sure you really understand the deal that you're looking at, obviously, first, I think the issue is to understand who the sponsor is, understand really what they are, who they are and then also with a specific deal, that doesn't make sense to you. Do you feel like their track record and what they're doing is there kind of gaps like, I don't really know what happened here, doesn't mean things are going to be perfect. But again, the authentic thing is that they are honest where they fall short, everybody makes mistakes in these deals, they go better than expected, they go worse than expected, they never go exactly as expected. There's just variants, if anybody's ever owned property, even a single family is going to know that. So I think just really getting and asking questions. A lot of people do like to do background checks, they talk to prior investors. Talking to a prior investor is a great way to get an understanding of what that communication will be like, what happens when a sponsor faces a challenge and I just I think all of those things, they're a lot of great lists out there. But I think at the end of the day, you have to do a little homework and you have to go with your gut. You got to just get a sense of who this person is, do you feel like okay they are really there to try to help you, and are they really passionate about this? Is this their first? First deals are a little tough, first couple of deals but just in sense for me to invest with but somebody has been around for a while and you can just see the story. The best one is, hey, this is what we did a year ago and this is what's happening now, here's a lot of positive things and this deal is very similar. And you can see the connection, you're like, oh, they've done this before, this is what this is and it's just explained in a very clear way. So those are the kind of things that I would go for.
Steven: [00:20:20] Yeah, yeah, really, really good advice. I mean, there's definitely a lot of information out there, we'll include a link to that article we're talking about in the show notes so people can kind of look through some of those questions. So what would be the next step, after somebody has had that conversation, they've talked with somebody like you or me, they've gone through a little bit of the onboarding process, they're starting to get a little bit more comfortable, they're reviewing some deals, what typically happens next?
Bronson: [00:20:44] So yeah, it's one of two things, either they don't invest and they kind of move on and get distracted with something else because a lot of people that have a good income or probably listen to this are pretty busy. But if somebody will choose the final deal, they feel like this is a good deal and they'll just invest a minimum or maybe invest a small amount. And really what it does is the goal, I think, is really to have one to two groups that you regularly invest with, that you get to know and basically when there's a new deal, you feel like you resonate with them, the performance is there, the communications there and there is that idea of partnership. Because I know you were speaking earlier, I was thinking about this, that whether you're a sponsor or you're a passive investor, it's got to be Win. It can't be like one side wins, and the other side loses. So that's another thing too, I see some deals, the way they're structured, it's got to be there's a shared interest that there's some skin in the game from the sponsors, there's this idea that we're going to share profits. And I think it really makes it a very unique investment compared to some of the other things out there for most retail investors that unless you're a hedge fund, it's very rare you have performance based compensation for managers. So there's this aligned interest. And so I think investing, like I said, you're going to learn a ton, you're going to get some communication from the sponsor, you're going to learn and say, hey, will I want to work with them again, will I not, and will I want to do a different kind of deal. But most of the time, once people get into it, they see, wow, this is really amazing. I'm getting distributions from this, I'm getting tax depreciation, I'm getting all kinds of benefits, it's way better than the stock market, and I have some diversification. So again, the action is really what allows people to really learn about it and actually gain confidence in passive investing.
Steven: [00:22:18] Yeah, yeah, that's so important. At Vonfinch Capital, we dive deep doing due diligence on all of the partners that we work with and we spend time upfront getting to know investors. And one of the reasons we do that, I know it's the same exact thing, you do Bronson is because it's really important for us to make sure that we're working with the right people because this is a long term partnership, it's a long term relationship. And there's been times where I've had some conversations with investors and I've said to myself, I don't think that we're going to be working together because you could just tell that some people might not be aligned on the same set of values and that's okay. And it's important to be able to, as an operator to be able to say that, and as a passive investor to be able to look and say, you know what, this didn't feel right. I'm not 100% sure about that and I can't really put a logical reason behind it but I'm just going to trust myself. And so I think that is definitely something that's really important. So what I'm curious about, Bronson is, after talking with so many people going and raising capital, working within a machine to go out and be able to do deals like this, what was one of those big challenges that you personally dealt with? And tell us a little bit about that story.
Bronson: [00:23:22] Yeah, so I think the biggest challenge for me in doing this, especially initially, was just there wasn't really a roadmap, there wasn't really like, what do I say on the phone? Like, how do I have that conversation with investors? How do you sound professional, when you don't quite know how to do that? And so in the beginning, you just kind of do the best you can, you ask questions, and then eventually, you get to just be very, very comfortable with that conversation. You get to know the questions people are going to ask. And so I kind of had a certain five minute spiel I go through every day, this is our group, this is what we do. And then we go through some investor questionnaires, information from the investor to get some information from them and then we just open it up and just let them ask some questions as well. But I think we don't know what we don't know. And so I think the way we gain experience is by doing it so if some people are either intimidated about calling as a passive investor thinking I don't know what to ask. It's just we'll just ask what you can, ask what you know, check out some of the lists online and ask and if you're somebody who's starting to interact with passive investors or you're wanting to, just start doing it. Just don't wait to--just get out there, start meeting people whether it's meetups and these days it's virtual meetups, especially in California, but where I live. Just basically taking the action asking the question, then you're going to learn, you're going to learn a lot on both sides of that whether you are an investor or you are someone who's talking with or wants to be speaking with passive investors.
Steven: [00:24:44] Yeah, absolutely. Well, we've made it to one of my favorite parts of the show, the growth rapid fire round where the questions are quick, but your answers don't need to be. Talk to me a little bit about success. How would you define success and what is success to you?
Bronson: [00:25:00] I think success is living true to yourself and discovering what your purpose is and doing that.
Steven: [00:25:08] Yeah, it's so very important. And when it comes to habits, what are some of your Keystone habits, the things you do on a daily or weekly basis that have led to that foundation for your success?
Bronson: [00:25:20] Yes, so there's many, I think I started going to some goals events a few years ago, and setting goals annually. I totally recommend goals events, I've said during COVID, I had a bunch of goals. I think I read 87 books last year based on goals and just wanting to read a bunch of books. I have some kind of meditations that I do in the morning, I have some prayers, I do these affirmations about myself and not just who I am, but who I see myself as or who I want to see myself as and that stuff is just, especially when you add emotion is just really powerful. So those are a few habits that have really been really transformational in my life.
Steven: [00:25:55] Yeah, that's so awesome. And finally, inspiration, what impact have mentors made on your life? And how do you go about finding great mentors?
Bronson: [00:26:05] Yeah, so mentors, literally, it is the difference, it's really getting around people that are at the next step, a couple steps ahead. And really what I like to say is providing value, and this is I think a huge thing that people miss is, they go to people they respect and they're like, hey, I want you to mentor me, I want you to mentor me. And there's people that do like paid mentorships and that's great if that works for you. Like they totally do it because you get around those people. But for me what I--kind of how I was when I first got involved, I basically went to some people that I really value and I just said, hey, what is your biggest challenge? What are the biggest things that you're facing? And I'll tell you right now, that's a question that catches you off guard if you're in business because mostly nobody's asking that question. But if you ask that question, what happens is it allows you to see where they're at and then you can see if you can be a resource to them. And in the process of doing that, you're actually going to become a value to them, and they're going to want to help you. So I would say I did a little bit backwards, which is what I think you should do, I think you should go to people that you respect, you value, want to learn from and just start asking the question "what's your biggest challenge?" and then try to help them solve it. And in the process of that, you're going to learn a ton, you're going to be closer to them, and you're just going to get so much. I've gotten so much value out of my partnerships in that way, that it's been unbelievable.
Steven: [00:27:16] Absolutely. And tell us a real life example of that working for you because I know of one that I'm thinking of.
Bronson: [00:27:22] Yeah, so a syndicator that I worked with for a couple years. His name is Michael Blanc so some people might know him, he is a well-known syndicator. I basically went to him and I said, hey, how's it going with raising money, and they were having some challenges raising money. And I get into specific figures. But they were sourcing it elsewhere and types of things that a lot of a big community, they did a lot of active investing. And so I said, well, what if we helped to kind of work together to create this process so that we had something for passive investors, we had education, we did calls, we did podcasting, we did certain things to develop this whole passive side and he was very open to it. Because again, a lot of great people, a lot of people you respect and value, I got a lot of value out of this stuff. But I went to them and I said, hey, how would this work? So kind of what I was sharing about value, that's exactly what I did and it's worked out phenomenally well. We've got 60 million in real estate now and launched my own firm Bronson Equity recently. So it's just been awesome. It's been amazing.
Steven: [00:28:16] Yeah. So so good to be reminded, and for other people to know that's exactly what you can do to get started is, find a way there's nothing wrong. I paid for mentors, I paid for coaches, I paid for masterminds, all of them have been amazing investments, and I've traded my time for mentorship as well. It can also be a great way to go. So this is awesome, super amazing talking with you today. Really great having you on. Where can people find out more about you or get in touch?
Bronson: [00:28:47] Yeah Steven it's been great to be on here. Really appreciate it. I just love what you're--all the value that you're bringing to people through this podcast and through your investments and your community so thank you for that. People can find me at bronsonequity.com or they can if you want to shoot me an email. It's just Bronson@Bronson Equity.com. I love hearing from people that are passive investors or people that are raising money or you have a question about anything related to passive investing or real estate. I'm on game for that all day.
Steven: [00:29:12] Awesome, we'll include all that in the show notes. So great to have you on. I look forward to the next time we get to hang out.
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