Scale Your Business by Forming Your Own Board of Directors with Dan Pierson

The total potential value of business that your fund or syndication will be worth should be the total value of your board of directors.

So if you're going to raise a $50 million fund to do $200 million worth of real estate transactions, then your board should exceed the value of $200 million.

Welcome to truly Passive Income. I'm Neil Henderson.

And I'm Clint Harris.

Well, Dan Pearson, welcome to Truly Passive Income. It's great to meet you, sir.

Thanks for having me on. I love this stuff.

Yeah, absolutely.

So Dan and I had a chance to connect a couple weeks ago at a billion dollar boardroom event where he and I were both speaking at the same event and had a chance to run into each other. And luckily I got to go first because I don't think you want to follow him with his presentation and what he has to talk about.

So that was the first time we had a chance to connect, but we spent part of a weekend together. And Dan, you're doing a lot of really impressive things in a really short period of time.

Tell us a little bit about who you are, your background, where you're from, and what you're up to now.

Yeah. So my name is Dan Pearson. I live in Cincinnati, Ohio. This is where I was born and raised. I'm married, my wife, we have two children.

We are very passionate about family. You'll hear this a lot in my story and a lot of what I'm working towards is family related. But quick story is I was in the University of Cincinnati.

I was kind of all over the place. Didn't know what job, didn't know what direction to go.

And I actually started a small vending machine company because I was a cheerleader at the University of Cincinnati. So I was traveling all the time, very, very busy, seven days a week, fully committed towards school in a sport.

So I needed some sort of income, which is what brought me to the vending machine business. Ended up taking that, building that up.

I could get this beautiful glass front vending machine for pennies on the dollar compared to what they sold for just a couple years earlier. So I built that up and I wanted to get into commercial real estate.

And I kind of knocked on everybody's door as a 19 year old trying to get somebody to help me buy a parking garage in downtown Cincinnati. That was the very typical got laughed out of every single room. So after 100 pitches, getting turned down 100 times, I had no clue what I was doing.

Somebody kind of looked at me and they said, hey, you look like you're in pretty good shape. You're obviously a hustler. You've knocked on my door a hundred times. I finally met with you.

And he said, I have a friend who owns a gym in the first floor of this building. This was in downtown Cincinnati.

And he said, my friend is about to go bankrupt, and I think you could go in there and offer him basically any amount of money, and he might take that to walk away from the business just to save his family, and I could take on the risk. So I did that.

I calculated how much my vending machine business would be worth, and I went to this guy and I said, hey, I have no clue what I'm doing, but here's my offer to buy your business. And it was this beautiful little gym. And he said, yes. And so that kind of started everything.

I was 20 years old, and I had this cool little business in downtown Cincinnati. I tried to do college and cheerleading and the gym for a while. That didn't really work. I ended up dropping out of school and going all in with.

With the businesses.

So then from that point, I grew that I expanded that business at least 10,000 square feet above me in the building, Built this really cool staircase, expanded that ended up buying a couple other fitness centers to kind of fuel the growth of the downtown location. Tried all sorts of online businesses, basically all in the fitness space. Did some tech stuff as well.

Just kind of threw my hand as many things as possible while I was young and dumb and had nothing to lose.

And then that kind of got consolidated down to I ended up buying my biggest competitor in downtown Cincinnati for the fitness space, moved my location there, and then I kind of slowed things down for a little bit and had a really cool operation going. And then looking ahead, I always wanted to get into commercial real estate. I knew it was the end all be all for me.

I saw the path of people who are really, really wealthy with freedom in the fitness space, and there wasn't a whole lot of them.

Then I look over at real estate and other bigger opportunity areas, and there's a lot more people with freedom and wealth and kind of having that lifestyle that I wanted. So, long story short, I prepped the business to sell.

So through that process of holy cow, I now have no money coming in. I have nothing to look ahead to. It allowed me to shift my mentality a little bit.

My plan was to take a pile of money into commercial real estate to start buying stuff. And it really forced me to rethink how I was going to move forward.

I do a lot of consulting and now I have a small private equity fund where we take a minority GP stake in other emerging fund managers operations to help them come up and do great things as well. So kind of a lot going on, but very exciting times.

A lot to unpack there. I actually want to circle back to the whole vending thing because I think it's your sort of your beginning as an entrepreneur, am I right?

Yeah.

And it's one of the ones that it's out there a lot. You know, the name of this podcast is Truly Passive Income. And hey, you can get passive income by starting a vending machine business.

So how passive is the vending machine business and how profitable is. And I always think it's funny. My son's nine and I think, all right, maybe when he's like 13, 14, try and buy him. I'll fund it.

I'll buy him a vending machine and get him started. Talk me out of it, Daniel.

I'm going to talk you into it because my son is 9 and he has a little vending machine business. So his name is Noah, it's called Noah Guy Vending.

And he's got two gumball machines, this candy machine where it's got eight different selections and it spins. And then he just got a Pokemon card vending machine as well.

So you put in a dollar and it gives you a single Pokemon card, where half of them are going to be the fancy shiny ones and then the other half are going to be regular. So as a young adult and as somebody who wants to do this as a side hustle, it is profitable if you, of course, find the perfect location.

It's become really popular again.

It was just the only way I could make money. But it is profitable. The only thing that's really unsustainable is all of these quarter machines that you see everywhere.

You know, Those have been 25 cents for a single vend for 30 or 40 years. Whereas the margin is getting thinner as candy prices go up. So you got to get unique and creative about your offering and all of that.

But for the average person, if you want to go out there and get the smaller machines, you can check it once every two or three months. My son checks his like every two months. Some of the bigger ones, of course, you want to look at those every week, check that.

And then it is profitable if you price it right and just have a high volume location.

I love that you're doing that with your son. No, a guy vending is hilarious, by the way. I love that. My son's 4 and his first business was this past summer.

We have honeybees out at a farm where we hunt. And we harvested like 35, 40 pounds of honey. And he set up a little stand down on the boardwalk at the beach and sold it.

The lessons are more important than vending, right? Or selling honey or whatever it may be like. That lesson is so important and teaching that character. It means a lot.

And it's funny about your story, Dan.

Like going from being that kid, you're trading hustle for money, you see opportunity, you're running around even though you don't know what you're doing, you're doing it very enthusiastically. Inevitably, eventually that runs into somebody who's like, I see the drive in this person. Let me help them and give you some kind of a leg up.

It's funny. We have this conversation a lot, that person.

And that story plays itself out over and over and over of the person starting out trading hustle for money because they didn't have much, and growing it up and building it up and then moving to the next thing.

But over time, eventually, if it's a wholesaler that starts flipping houses, that realizes they're getting paid once to start holding some houses, then realize single families aren't going to get them there, so they go multifamily or eventually over time, that kid always grows up and turns into someone where time and freedom becomes more important than anything else. And you're looking to make a jump into commercial real estate. You set it. You know, there's not a lot of old running quarterbacks in the NFL. Right.

It looks great and flashy when the young guys are out there tearing the field up, but if you're talking about longevity and wanting to stick around, it's the guys that are not taking the shots. Right.

So there's not a lot of gym owners out there later in life that are wildly successful that have a lot of freedom to identify that early and be like, okay, let's work backwards. What kind of life do I want? Like, that's ultimately what got me out of Airbnb multifamily Properties into self storage with my partners.

I was like, what are the old guys that have plenty of time to go fishing and hang out with their kids that are sitting around doing nothing? What are those guys up to? And inevitably, it's some form, typically, of commercial real estate, whatever that may be.

So it's funny to kind of catch you right at that point. I think you're doing it a lot younger than most people.

You're making that shift of, look, let's go into commercial real estate, because that's the lifestyle that I want, because I can see the trajectory that I'm currently on, and it doesn't get there. And then, you know, honestly, the jump that you made, you were about to be set up very nicely.

Businesses that you built up, you're going to have a nest egg, and you were going to roll into being an operator when that decision got taken away from you. And honestly, the decision got made for you. You're back to where you were in the beginning.

Right.

You have a lot more skill set, but you've been told no a thousand times by now, and you know how to pitch it and you know how to build things up. So you're starting over with what you knew, and that just took you from the operation side to the capital side.

But I would argue you have better opportunity for scalability on the capital side and I think better opportunity to land with the type of lifestyle that you're looking for, because other people are out there operating the deals that you're invested in.

Yeah. So the success curve for where I'm at now with Pearson Equity Group, it's a bit of a longer horizon. Right. If I went out there, I hustled.

I worked 50, 60, 70, 80 hours a week doing the operator while funding a deal. Of course, my level of success and freedom will come quicker, but at the expense of my family.

And I already did that while building the fitness centers. You know, I have a nine year old son, so he was alive for a majority of my 24, 7 hustle season, as I call it.

And so I did the hard look at all the opportunities in commercial real estate.

I talked to a lot of very successful people and I knew if I was starting with zero and I had to climb a mountain, the mountain I chose to climb was, like you said, the one that ended with the lifestyle that I wanted, which was the freedom and that was being on the money side of things. So it allows me to be a little bit more powerful in a negotiating room. It allows me to have a little bit more control.

And then of course, like you said, I'm not operating the deal. I'm partnering with the best operators in the country who are doing the deals properly with their established teams.

And that's how I made the decision to go onto the money side.

Why would you say you talk about the fact that there are not many old gym owners, why is that?

It's a brutal business. I think a lot of it is because owning a gym is a very cool idea, right?

Most of the people I ever talk to who are under the age of 40, they're like, Dan, what a cool life. Like, I would love to own a gym one day.

And I compare it to people who say that they would love to own the neighborhood bar where all their buddies go and drink. It's the same concept. You open up the gym, everybody you know wants a deal. Everybody you think will be the perfect client isn't the perfect client.

And then either the person who is unbelievably passionate, where their passion exceeds everybody else, they tend to have a lot of success. And then the very, very intelligent business people tend to have a lot of success.

And then everybody else in the middle, they fall out pretty quickly. The turnover in the fitness space is very high. And then the competition is crazy. And there's always going to be a Planet Fitness popping up.

And you know, the Planet Fitness is the Walmart of the fitness industry. So they set up shop and then 20 mom and pop gyms that have been getting by for the past 20 years, they're done and they go out of business.

It's a cycle where again, if you're passionate or you're incredibly skilled at the business side of it, you're going to make it by. But every single time, you keep getting knocked down a little bit.

And basically at the end of the day, the only people on top of that mountain of true Success and true wealth. They're working nonstop, still into their later, you know, years of their career.

And it's just you're always at risk to get knocked down by one of these huge corporate box gyms. And so, yeah, it's just brutal business. And people tend to not account for how brutal of a business it is.

How far had you scaled it when Covid hit?

I still try to do a bunch of online stuff, but what I ended up starting doing was I started to rent out every opportunity inside the gym. So I had another business inside the gym that was renting space for me. They did health coaching, they did all of that side of the business.

So meal prep, health coaching, personal training, they ran the classes and then all the other personal trainers were kind of subbed out where me as the operator was not doing as much work, which made it appealing to an out of town potential investor.

Yeah, so basically you're maximizing your net operating income because somebody's going to come in and look at the cap rate and that's where you're going to get your valuation on your business. So just tweaking everything. I think a lot of people don't realize that sometimes it takes time to optimize, to get ready for liquidation.

If you're going to move on, one of the other things is you kind of got to the point with that business in your portfolio where you realize it wasn't going to get you where you wanted to be. And so you got to unpack that. And that happened to me and it was a mistake that I made.

We built nine single family homes up before we realized, oh man, this is not going to scale to what we wanted it to be. So we made a transition into small multifamily properties that we converted to Airbnbs.

And I'll be honest with you, man, I'm kind of sitting right there again. I'm sitting there and I'm like, we've made a big step. I thought that for us, I thought that was the destination.

And I've come to realize that's just a stepping stone. It's part of the journey.

And there's probably going to be one or two of those properties that we unload in the next year or two and just continue to put that money into what we're doing with Nomad, into buying big Box retail buildings and converting it to storage. So you're always kind of continuing to learn. But I think a lot of people choose a business model or an asset class to invest in.

And the reality is, if you don't start with the end goal in mind of what you want in term of time and location independence, you could be building something up that only works when you are operating it. And now you just have a job.

And if you ever want to liquidate that, usually it's something that you might have, something that works great because you're working it.

But if you walk away and you try to hand that off to somebody else, first of all, nobody else is going to manage your business the way that you manage your business. And also, there's a cost to that. Like, you have to give something up to pay somebody else to do that.

And a lot of times, that can turn a good deal into a bad deal.

So I think recognizing that early on, you know, obviously being in a situation where you can package things up and sell it off, that's the best case scenario to move on to something else. But that got taken away from you.

But one way or another, you're starting, like you said, at the bottom, and you've got to climb a mountain now and move on. So optimizing that, getting it ready to go, like that's the way to do it.

But sometimes the world makes a decision for you, and that's what happened to you. I want to make a small pivot here and ask you about this, about climbing that mountain. You did something that I think is genius.

It's a very unique strategy of putting people in your corner. Right.

If we're going to stick with that analogy, like, you're climbing a mountain, all of a sudden you've got some Sherpas and some guides along with you and people that are actively pushing you forward in what you're trying to accomplish with your goal. So talk to us about the board that you put together, why you did that, how you did it, and everything like that, because I think this is gold.

I really want to dive into that.

Yes. Thank you for that compliment. You're right.

So I had this massive shift in my life to the point where I actually didn't want to do business in Cincinnati. I'm the fitness guy, and I didn't want to have to explain for 30 minutes to everybody I met with why I shift from fitness to commercial real estate.

So I shipped out.

Covid is destroying my businesses, and I'm at the bottom of this mountain, and I Know, in order to start climbing this mountain, I need to build a team around me. So not only just partners, I decided that, hey, I need to somehow put some advisory committee, some board of directors.

And I just started learning about how bigger investment funds work.

And a lot of them have these very established, very well recognizable group of individuals that are tagged onto the business as an advisory committee or board of directors. So I kind of sat there and thought, okay, I have no experience. I've never written a check to anybody yet.

I want to get onto the debt side or money side of real estate, and I want to build this huge investment fund wrapped into this whole idea. So I learned very early on that I decided early on that I needed a board of directors.

So now we have this other issue of how the heck am I going to get a board of directors? And how am I going to get a group of people to actually want to sit in my corner and help me on this journey?

So I sat down and I started thinking of ways to initiate conversations, ways to convince them to actually join the team. And I actually came up with this criteria. And this is something I teach a lot.

And I talk about this with a lot of different emerging fund managers, people from $0 all the way up to. I've taught this to people who are doing hundreds of millions of dollars. And it resonates well with everybody.

But essentially I thought of, okay, who are these top individuals? How can I start the conversation?

And I identified two things that they probably get asked all the time that turns them off or turns them away from doing potential business. And those two things were, let's just say I'm cold calling this person, hey, Mr. Successful Person, will you please invest in my company?

You know, it's the easiest but most simple thing that everybody does that immediately de levels them and makes that potential person not want to do business if you're only interested in their capital or investment dollar. And then the other thing is, hey, Mr.

Successful Person, would you please connect me with all of your other rich friends so that I can just do the same thing right? So I identified these two things, money and connections. And I kind of winged it the first time, but I finally got this guy on the call.

He is almost a billionaire. He does amazing things. He was the Ernst and Young Entrepreneur of the year. He owns this massive safari in Africa.

He owns hundreds of millions of dollars of businesses and assets and commercial real estate. Amazing guy. Finally got him on the phone and it was just, hey, Peter, my name's Dan Pearson. I'm starting this Real estate debt fund.

And I could feel, I could feel the eyes rolling in the back of his head. And he was probably like, what the heck is this kid about to ask me? So what I did was I did a hard stop in the conversation.

I said, hey, Peter, I just want to let you know that for the rest of my life, I will never ask you for a single investment dollar in any project that I ever work on. And I'll also never ask you to connect me to anybody in your personal network.

At the end of this call, I'm just going to ask you to sit on my board of directors for this company that I'm starting. And I value your wisdom, your knowledge and your experience more than any of those other things could ever account for.

And then before they could really talk about anything else, I jumped right back into it, explained what my fund was going to do and what was that, what I was looking to accomplish. And then I reminded them, hey, just so you know, I don't want any capital, no investment dollars.

I'll never ask you for money and I'll never ask you for those connections. So I really laid it into their brain that I want nothing from them other than their advice.

And I said, all I'm going to do is I'm going to call you a couple times a year, I'm going to update you on what I'm doing, the success I'm having, and I'm going to ask you a couple questions on things that I'm struggling with, things that you may be able to help with, and in return, I'll give you X percent of GP equity in my company and then we can go from there.

And then if they wanted more dialogue, I would kind of lay into what that percentage may or may not look like financially, because it doesn't matter to them financially. They just want to know exactly what I'm giving up. And I had five people I did that conversation with and all five of them said yes.

And I built this very. I call it the billion dollar board of directors. I actually got the play of from Javier's mastermind. He calls his the billion dollar boardroom.

I call my board of directors, the billion dollar board of directors. And it plays very well when I pitch potential investors. And then the cool thing is I had all these conversations years ago, right?

So now looking ahead, I've worked with these people for years. I've never broken my promise. So I've never asked them for money. I never asked them to connect me to people in their network.

Now they're Calling me, hey, Dan, I saw you working on your third fund. Let me introduce you to this family office, or let me come in and try to help you. Why don't you fly down? We can sit together and work on some things.

And it's really cool.

So they start providing the things that you never wanted from them in the first place, and it becomes this amazing marriage of relationship equity that I've built with them.

I love it so much. I'm trying to think of the exact quote and where I heard it from, but it's something like, if you want money, ask for advice.

If you want advice, ask for money. And it's true. If you ask somebody for money, they'd be like, I'm not going to give you money. Let me give me some advice.

But I'm not saying that you were trying to sneak in and backdoor it this way, but oftentimes you can ask for someone, listen, I don't want your money, but I want your advice on something. And then you show them what it is that you're doing, get them excited about it. And we might only get advice.

And that's totally fine, because as you've said, the advice oftentimes could be way more valuable than, you know, their $50,000 investment.

But there's also potentially a pretty good chance that once you've built that relationship with them, down the road, they might go, all right, yeah, I like what you're doing. Like, I'll introduce you to this person. I'm going to invest with you as well.

But what you've built is relationships with people who are going to be your advisors. Like you said, that's way more valuable than the $50,000 that they might invest with you.

Exactly. And you're right. So even just having these people in my corner, it elevates my status and it elevates the status of my company as well.

And there's actually, for the listeners, there's a metric that I've come up with when trying to figure out how to build your board.

And basically, my advice is, the total potential value of business that your fund or syndication will be worth should be the total value of your board of directors.

So if you're going to raise a $50 million fund to do $200 million worth of real estate transactions, then your board should exceed the value of $200 million. And that just eliminates any void in success of you and your team or your partners.

And it just really helps alleviate any doubts that potential investors will have because they know that you can lean on your board for those bigger decisions or advice or just what to do when you actually have what you say you're going to have by the time you've completed your cycle.

I love that with a network of people like that, there's really no amount of money that you could have spent to get access to that kind of mentoring and coaching and people that are willing to at least listen to what you're dealing with and give you advice on how to handle it. You can't buy access like that.

So I love the way that you formulated, I think, with most of those conversations, I would guess that you probably had one shot at it. Like, these are people that you're probably just to get access to them was probably extremely difficult.

And then at that point, you get one shot to pitch yourself and what you're up to, and they probably get pitched a lot. So I think it's a very creative strategy, and it's not rocket science, but it plays on such more than just a transactional level. Right.

This is relationship equity that you're building with people whose time is very precious. I think that you're really set up for success there. I love the metric of identifying what kind of net worth that you're going after.

We say all the time, like, who we are right now is who we're going to be in the future, with the exception of the places we go, the people we meet, the books we read, and the content that we consume. So putting yourself in a situation where you're going to have outside influence from people that are wildly successful, that's incredible.

That's awesome. So, all right, Dan, so you've got Pearson Capital. You've built this juggernaut of a board that's supporting you.

That, in my mind, is going to help you grow and scale extremely quickly. And it gives a lot of legitimacy to what you're doing and what you're after. So what are the goals with Pearson Capital?

Like, how are you identifying the operators that you're looking for, and what specifically makes you go after certain types of offerings?

Yeah, that's a great question. So it's called Pearson Equity Group, but it can be called a million different things.

So, essentially, my original thesis was I'm just going to originate what I call the hybrid bridge loan to multifamily acquisitions that could return our capital in two to three years and then give us equity in perpetuity on the deal. And that operator is to hold that asset as long as humanly possible.

So we're in and out financially in a couple years, get our small return, but then we get that mailbox money, that Nomad style passive income for decades after we're out. So I had the board, had my original partner, we went out there. Covid was still very much a thing.

So we were able to identify operators that were doing this very effectively and very successfully. And this is another strategy that I ended up using to help me raise money.

Is one of my big things being on the money side was that I always told everybody that I do not accept a loan application.

So if there's an operator that I've never heard of, regardless of how successful they are, they can't come to me out of the blue and say, hey, I heard you can originate some debt. Let's have a conversation.

I won't do a deal with them until I go through my due diligence process, which could take a year or two years on that operator. But essentially I started down this path. We raised over $20 million for our first fund.

So when interest rates were very low, a bridge product was very attractive because the blended rate was still low enough where these operators could get by.

But a lot of bridge deals don't make sense anymore with the higher interest rates. So now we will do a direct LP investment. So I'll come in.

Of course, I'm going to do a lot of side letters with these operators to make sure that Pearson Equity Group's dollar per equity or dollar per ratio comes out to where we are very much in a great spot in every deal that we invest in. But as long as the timeline still makes sense.

So now we're looking at a two to four year return of capital on every deal that we invest in, and then we still stay in that deal with equity and perpetuity after we get our original cash contribution back. Whether it's a note or whether it's just a direct investment, the timelines just have to stay the same. So we just launched our third fund.

We also just switched from 506B to 506C. So now we can start to talk about it. This has been very hush hush for a long time and it's a lot of back and forth with people.

So we are very excited to start to talk about this more publicly. It's a really exciting time for us as we move forward.

Are you still primarily targeting multifamily operators?

Oh, great point. When we expanded the thesis to allow for direct investments as well, we also expanded our asset class.

So we will look at any commercial real estate product aside from office buildings. I think office buildings are a great play right now if you are risky enough for it.

But it's something that I don't want to do with Pearson Equity Group because I'm not prepared for that environment with my investors. But we will look at anything else.

And then how many different asset classes are you involved in right now at this stage?

So it's the United States Virgin Islands.

This guy who I've been doing due diligence on for quite some time before that, he came across an amazing deal and he had a lot of beachfront acreage as well as some of the pre developed acreage as well aside from the resort. And we saw a really good opportunity to pump a little bit of capital into that. That's a legacy play for him as well.

So he's going to develop the land as well as redo a lot of the resort. And the numbers looked really good. We are all very excited to be a part of that deal as well.

And it comes with some really cool pictures to show people. Of course, real estate's real estate, but when there's a beach and palm trees, it's a little bit cooler to flash those around.

Well, Dan, how does it look for the passive investor? Like how does it work for someone who's coming in and investing with Pearson Equity?

Yeah.

So if somebody's looking at Pearson Equity Group, if they want to become an LP in Pearson Equity Group, they would be set up on a two to three year timeline, maybe four years if a deal calls for it. But essentially they are going to have A pref for the capital that comes back to the fund.

The fund is going to deploy all the capital, hopefully into a handful of deals.

Like I said, we're going to start getting the regular returns, whether it's a note return, which are interest only payments that the operator pays back to us, or if we're making an LP investment, then we are just going to follow suit on whatever the return schedule looks like for that deal. So they're involved with us for that time.

Once all the deals start returning all of our capital, plus whatever profits or other distributions, we're going to give all of that back to our investors.

And then we actually shut down the fund, we pull all the equity out and if possible, we give each investor their specific equity so they can do whatever they want with it, or if they want to or wish or suggest it. We can keep that in a special purpose vehicle where we manage that and then just pay them the distributions.

But the idea here is that they stick with us for 10 years or 15 years. They're involved in multiple back to back funds where we're still getting a regular 8 to 12 to 15% IRR return while the fund is operational.

And then we're going to get dozens of small equity positions in deals all across the country where the longer you're in as an investor, the more deals you're going to get equity in. To which whenever you decide to stop investing in Pearson Equity Group, you'll still get the mailbox money for hopefully the rest of your life.

You're creating a pension.

Yep.

Like people are investing into it. You're getting long term equity that continues to pay out with the. Hopefully an unlimited return.

Exactly, yeah. And so the numbers look really good. And again, it's a specific investor who is looking for this style of return.

You know, a lot of people can't wrap their head around it.

A lot of people just want that 7 year to 10 year timeline on a single deal where they're in and out and they can't really wrap their head around that this long term passive idea.

But a lot of times I'll show them a lot of different examples from the operators that we've chose to work with and it becomes very prevalent that, hey, this is possible to have a typical return schedule with that passive income for decades.

Well, very cool. Dan, Clint and I have enjoyed this conversation so much.

If any of our audience wants to reach out to you and find out more about what you're about and what's up with the Pearson Equity Group, what would be the best way for them to do that.

Best way is to email me. It's danearsinequitygroup.com Pearson is P I E R S O N. They can also find me on social media.

I'm not super active there, but I try to be and I post a lot of updates on what we're doing and some deals that we're looking at. I think email is going to be the best way. Also, Pearson Equity Group.com is a great way to kind of plug in and see what we're doing.

Sounds good man. It's been great chatting with you.

Thanks Dan. Appreciate you making time for us.

I look forward to trying to connect with you again for another episode in about six months or so and see what you've been up to.

Awesome. Sounds good. I look forward to it guys. Thank you so much.

Thanks man.

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