Flint J.:

0:05

Real Estate is a passive income source, you can buy a single family house or tender 50 of them and collect monthly rents. That was my goal. I wanted to retire early, I didn’t want to sit around and work in nine to five until I was 65. And hoping my mistake and writing my whole raise all those investments would be a really goal as you hope that it’s big enough that will last until the end of time, when you can just replace your active income with passive income, then you don’t care what size your mistake is, right? You just create this passive income stream and you can choose to retire when you want as soon as you hit that financial freedom mark, right with passive income. Greater expenses, yep.Axel Meierhoefer:

1:01

All right. Hello, and welcome, again to The IDEAL Investor Show. Here we are today with an awesome guest, Flynn Jamison is with us today. And he has a specialty in a certain area of real estate investing. So welcome to the show, Flynn.Flint J.:

1:15

Thank you. It’s good to be here.Axel Meierhoefer:

1:16

Yeah. Awesome, man. Thanks for making the time. So like I said, when we first talked before we started the recording, can you tell us a little bit, you know, who is Flynn? How did he get to what he’s doing these days?Unknown:

1:27

Yeah. So I’ll back up way back. I’m a mechanical engineer. I went into aerospace pretty early on, and I’ve been there ever since got my MBA went into program management. At the moment, I’m still working my day job. I am a program manager running $150 million program modifying aircraft. But back in 2018, I get started in real estate.Axel Meierhoefer:

1:47

Yeah, that’s very cool. And I mean, before we get into the real estate as people who come to our show, no, you know, I’m originally from Germany, but I’m also an Air Force fighter pilot, retiree. So as somebody RIA treat to have somebody in the aerospace industry, tell us what kind of planes are you’re working on or modifying or,Unknown:

2:07

I mean, we could make a whole show out of this. I love geeking out about airplanes. So I started out at Boeing commercial aircraft, I did 787 for almost 10 years, I was a structures engineer. So I was designing wing structure for the 787. And then I did some product development for several years after that. And then now I work for a different company, I’m in the defense side. So what we do is we take commercial aircraft or business jets, maybe single engine turboprops and put equipment on them to do like surveillance type activities or a whole bunch of other things. I can’t talk aboutAxel Meierhoefer:

2:43

those that well, the government or who.Unknown:

2:46

So it’s both actually we do largely military. But to give you one example, we did things for just the state of Colorado for the wildfire support. Basically, a storm rolls through lightning strikes. And we get these two aircraft up there. And they just have these we call them electrical, optical sensors and IR cameras, and similar to what you see on helicopters, police helicopters. And we can fly around survey live fires on an hourly basis or daily basis just to show how much they’ve grown and feed that information down to the people on the ground fight in the fire. So that’s kind of a civilian approach to it.Axel Meierhoefer:

3:22

Yeah, very cool. Yeah. I think that’s a really cool. I mean, I was in test flying in the military. And I ran into that situation, oftentimes that people said, so what are you working on? And I said, why? It’s something pretty cool, but I can’t really tell you in detail. Yeah, what it is, but those kinds of more civilian applications, I can totally see this. You know, I’ve been saying to my friends, because I’m always from an aviation perspective interested that I hope that the airline and aviation industry will discover Starlink pretty soon and put that on the plane. So we have high speed internet when we’re flying passengers, right? That would be kind of cool. And especially keeping in mind that if you are in an airliner, 30 40,000 feet, or even closer to the satellites, right, and there’s no clouds, typically in the way or anything, so you should have awesome connection. Yeah, so maybe you can pitch that to your clients that are installing Starling on the plane.Unknown:

4:14

It’s funny, I’m sure on the commercial side of Boeing, they are thinking about that we do a ton of SATCOM communications with what we do, because military has a bunch of satellites for just simple communications, right?Axel Meierhoefer:

4:27

Yeah, absolutely. I know one web, for example, is doing something in that direction as well. They are higher orbits for their satellites and more commercial applications and then wouldn’t really lend themselves very well for like an liner because the tangential speed is relatively high. But if you have a ground station or something like that, that could work. So I think the future for having access to information regardless where you are is going to improve not just with 5g on our cell phones but also in those circumstances in your car, in the plane wherever you go. So I think you have a pretty Be safe job, Dad. Yeah, cool. Well, so you said you did that you’re still doing that. And then you got into real estate. And I know from your bio that you I think started out with renovating a duplex. And how did you go from there?Unknown:

5:13

Yeah, so let me back up a little bit more, probably your listeners want to know why real estate, right. And the whole goal is, real estate is a passive income source. You can buy a single family house, or 10 or 50 of them and collect monthly rents. And that’s, that was my goal, I wanted to retire early, I didn’t want to sit around and work a nine to five until I was 65. And hoping my mistake, right, my 401 and IRAs and all those investments would be I mean, the goal is you hope that it’s big enough that it’ll last you till the end of time. When you can just replace your active income with passive income, then you don’t care what size your nest egg is, right? You just create this passive income stream, and then you can choose to retire when you want, as soon as you meet that financial freedom mark, right when your passive income is greater than your expenses.Axel Meierhoefer:

6:07

Yeah, exactly. We call that the time freedom point, you know, when that number is exceeding your expenses, like you just said, and then you have the freedom to say, Okay, do I love my job and keep doing it? Or do I take the freedom to do whatever I like? And don’t do thatUnknown:

6:20

job? Yeah. And a lot of people in this they, it’s not like we go sit on a beach and we hit that time freedom point, right? Because honestly, a beach is pretty boring to sit on 100% of time. So we typically turn around and get back to communities. Yeah, travel the world, show the kids amazing things around the world is kind of my goal.Axel Meierhoefer:

6:39

Yeah, absolutely. I mean, the terminology that I typically use, regardless whether somebody just recently came to us or hurt us on the podcast, or you know, something like that, to really say, Okay, think about in your mind, what are you really passionate about, and that can pretty much be anything, and most people cannot allow or afford for themselves to constantly all day long live their passion. Yeah, right. And that can be something charitable. It can be like, I love to paint or I love to hike, or I love to travel or whatever it might be that you’re passionate about. That’s the freedom that you then have, when you reach that time freedom point to live into that passion. It’s not being passive and not doing anything anymore. Like you said, it’s really exploring that passion to the fullest extent. And and this, I think, is very important, without having to worry how to pay your bill, correct. I mean, I think the freedom is not just to have the freedom to make those decisions. The freedom is also to get away from under this burden of how do I get enough money in the door to pay my bills? Yep, exactly. Yep. So I think we’re very aligned with that. And you’re just using a different set of ways to invest. Can you describe a little bit how you got there? Yeah.Unknown:

7:50

So I started out as most people do in real estate is just go find a single family home, I decided I wanted to leapfrog the single family and do a duplex, get the doors as possible. I did the burst strategy, the buy rehab, rent, refinance, repeat, it was, so I bought this place for $80,000. It was essentially a wholesale unit. It was distressed and renovated. I put money into it, I had to put more money into it. And it took longer to renovate, right, just standard flip issues that happened, right, cost more and takes longer. But then we got tenants in and I’ve had it ever since since 2018. I’ve had the same tenants there. So it’s in large part and a good cash flow machine. But I realized the cash flow isn’t going to get me there. Even if I go by 50 doors and do that same thing over again, the path to my time freedom point or financial freedom point was going to be a very long arduous road. So serendipitously, I was educating myself via podcast mostly while I walked my dog. Right. I came across a podcast that was talking about multifamily syndication, so buying an apartment building with a bunch of like minded investors, and I dove straight in, it seems to be where most people go when looking to scale, right, you started with the single family, a lot of people start flipping after single family. They may go duplex quad Plex, maybe wholesale, there’s kind of this path or people take and then eventually they end up in these multifamily syndications. And that’s, that’s like the holy land for real estate investments. It’s not only the most stable, it actually gives you the highest returns. It is the most efficient path to financial freedom. And I’m thankful that I just happened across the podcast talking about it because I totally leapfrogged all those other midpoints and went straight from a single duplex to doing multifamily. Okay, yeah,Axel Meierhoefer:

9:43

that sounds very interesting. Now for our audience. Can you explain a little bit how somebody that let’s say somebody had $50,000 and they were making basically the choice, okay, I could use $50,000 and get myself like a $250,000 resident through property. Well, I can get $50,000 into Flynn’s deal with indication. How does somebody who does basically the syndication route, how do they actually make money? Yeah,Unknown:

10:10

so there’s two sides to the story. There’s the limited partners, which are the true passive investors. And they are the financial force behind it. If you’re someone who is thinking about you wanting to get into real estate, but you know, you don’t want to deal with buying a house, we all know what it takes to buy a house. It’s painful, and it takes a lot of money, and it likely takes more than $50,000. What multifamily syndications do is just a syndication is a group of people combining resources to accomplish more than what one individual can so a whole bunch of people with 50,000 100,000, you may get a half a million dollar investor, you can go buy a $15 million apartment complex as a group, the limited partners, like I said, are the financial force behind it, they put the money forward, there’s the general partners, which is a smaller team of people that do all the sweat equity, they find the deal, they put the business plan together to get the lending, right, all the due diligence, property management, they manage the asset throughout, they do all the hard work, they get a piece of that pie through sweat equity. And that’s kind of where I’m going. I’m general partner, and I’m limited partner on a bunch of other deals. But the cool thing for limited partners is you can get in on real estate for $50,000 own a share of it, you actually get equity, which this is key, because you’ve heard a lot about REITs, the real estate investment trusts through fidelity or whoever, right, it’s essentially a Real Estate Fund. If you invest through syndication, you actually get a percent of equity, meaning you get the tax depreciation on the back end, you get all of the benefits of owning real estate, without actually having to do any of the work. The general partnership side does the work with the property managers. So you can either go buy a house and manage it yourself, buy a house, get a property manager to manage it. But there’s still a lot of work me owning this duplex are still a fair amount of work after do the accounting and still have to do a lot of the tax work on the back end, owning a single family with this syndication, it is truly passive, you find a team like myself, you find a deal that you like, you invest into it, and then you sit back and you collect money, we give distributions quarterly at the end of the year, we’ll give you a k one tax statement, which you just give to your accountant. It’s super straightforward and simple. You get all the benefits of real estate without having to do much.Axel Meierhoefer:

12:29

Okay, yeah, that’s very cool. Now, can you say in like you gave the example for that apartment complex? How many people would somebody have to imagine to be in that group of general partner.Unknown:

12:39

So this recent one we just did, the general partnerships can get quite a few people, we just closed on 100 unit in Georgia, it was the $14 million unit, we had to raise 14 and a half million dollars, there is what we call the lead sponsors, there’s going off the top of my head five lead sponsors that are really on the ground doing a majority of the work. But to raise four and a half million dollars, those four people, four or five people may not be able to pull from their investor pool that much money. So they bring in what we call co sponsors. And it’s just capital raisers. So there’s people like myself that I can bring capital to the deal. And I get a portion of equity out of bringing a whole bunch of investors to it.Axel Meierhoefer:

13:23

So would you say like five to 10 is like,Unknown:

13:25

and that’s when I think between the lead sponsors and co sponsors, there’s probably 15 to 20 of us. I mean, this deal was it was very unique in that fact that there was a lot of capital raisers that were involved in it, but in general, I would say five to 10 is the typical general partnership team.Axel Meierhoefer:

13:43

Okay. And then you mentioned earlier that those five to 10, maybe sometimes it’s 15. People, they basically they’re part is the work. And the work is basically the sweat equity. What does that mean? Like? How much do they get a portion of the property for their work? Yeah, it’s basically financed by the limited partners in putting their money in as basically their contribution while the other people put their work in and get Yeah,Unknown:

14:08

so the general partnership usually has about 10% of the financial stake into it, but the way this goes, so we’ll take the single family example again, when you buy a single family home, you’re likely to leverage it. So you’re gonna go get a mortgage on it. 20% down, we do the exact same thing with apartments, we will go get lending, whether it’s your institutional lending the Fannie or Freddie or we go get private loans. There’s actually a lot of opportunities for private lending. There’s a ton of banks and a ton of private lenders out there that really, really love apartments multifamily, and they come into our deal. So they will fund the 70 to 80% of the deal. And then the limited partners is where we fill the gap. So that’s where the limited partners come in with their finances to simplify this down the limited partner to general partner your equity split is 7030. So the limited partners come in, they get to split 70% of that property. Now, every deal is slightly different. It could be an 8020 split, how that deal works, but you could have 50 investors and on that 70% of the equity, and then there’s call it 15. Team members on the general partnership side to split that 30%.Axel Meierhoefer:

15:22

Right. Absolutely. And thank you for explaining that to our audience. Now, the other part that I think is probably interesting to realize, because when people you know, look at idea, wealth grow, and our podcast and The IDEAL Investor, Show journey and so forth, you’re absolutely right that we are basically doing, the more traditional we’re buying single family or duplex triplex and we basically forever and benefit from both the appreciation and a cash flow. And you’re right, you could argue it hasn’t the same punch, so to speak, like syndication. Now, one distinction, at least, I believe, I understand is that you don’t get involved in this limited partnership, and then you have it for 20 years. So can you say a little bit of time horizons, and how it works in that way,Unknown:

16:08

I’m glad you brought this up. So the most typical business plan that you’ll see out there as a five year plan, it could be five to seven, the goal is as we always buy a underperforming asset, whether that’s a 30 year old apartment complex, it’s never been updated, and it needs a refresh, kind of like how split, you could buy a mom and pop operated place that they just do not push rents, they have horrible tenants, the rents are exceptionally low, right. And like there’s deferred maintenance, right? Those are the type of places we take over. So the cool thing here is when we take those over similar to a flip, you kind of do a forced appreciation, it’s not natural appreciation, the value goes up over time. I mean, we hope for that too. But that’s just icing on the cake, because we can actually calculate if we go in there renovate all these units, we know the sub market, there could be a hospital in school nearby. And we know exactly the clientele we’re going to be marketing to we know exactly what the rents we can get to but the comps in the area, we can truly calculate how we can take the value of a underperforming apartment complex and how to get it to maximize not only in rents, an additional fees, maybe pet fees, we can add additional amenities, we can decrease expenses, there are so many different threads we can pull to get the net operating income of an apartment complex up. And the goal is we do it within five years. And we typically target a 15% internal rate of return or average annual return over those five years.Axel Meierhoefer:

17:42

Yeah, that’s very cool. And I mean, you know, I’m always trying to explain when we compare these different approaches to each other, when somebody says forced appreciation, you know, to say, Okay, well imagine 100 unit complex, and the average just for the easy calculation for each unit is $1,000 per month in rent income, and it’s 100% occupied all the time, just to make it easy. And then over time, people move out. And every time somebody moves out, Linda and his team come in and renovate it, and then they can rent it for $1,500. So that’s obviously 30%. Higher, so it was 33% more, but then I think the way I understand it, and correct me if I’m wrong about that Flint, ultimately, if you say, okay, these 100 units now over time, or or renovated, and they’re all making 1500, and they’re always 100% occupied. So the whole thing is obviously at least 33% worth more than it was when you first got into it. And hopefully it didn’t cost you the equivalent of like $500 a month or so, in paying for the renovation, right? Is that kind of a way to do the fourth step?Unknown:

18:46

Yes, that’s a simplified version of it. But it’s actually not too complex. We have big spreadsheets that we build these tools. And we can put all of the factors and what are the costs to operate it, put the loan in there, right. And then how to raise rents year over year. And at the end, the cool thing about commercial real estate is it’s not like a single family home, when you go to sell your single family home, the value is based on what your neighbor sold for. Whereas commercial property, it’s not necessarily that the property is rated on the revenue that makes on the net operating. And this is the cool thing is because you can actually calculate what your projected revenues are going to be and you can even do a sensitivity analysis on it. You don’t have to worry necessarily about what the market is going to do because we know what we can achieve by renovating and Can you rent bumps then we in turn, calculate the value it will be in five yearsAxel Meierhoefer:

19:40

right now. If you go and say okay, we’ll take this example where you said okay, we had a $14 million deal and we did our thing for five years. And now let’s just for sake of argument, say we want to sell it for $20 million. If there are changes in the economy or changes like we hear everybody that listens to the news and is interested in real estate and fine Meeting knows, okay, the Fed is going to increase rates, the loan interest rates gonna go up the economy or the financial markets might get volatile. Is it hard to get to the goal, say price at the end? Or are you worried about that? Or would that be something that you would have to address? If somebody were to say, Well, what happens if all these horror scenarios that the media is making us believe are going to happen? If they were, or at least some of them were to happen? How does that impact the syndication deal?Unknown:

20:28

Yeah, so we’re always looking, that’s where the sensitivity analysis comes in. One, we choose a market that isn’t just going to disappear, like Augusta, Georgia, where we bought this place, that is definitely a thriving city in this very particular area we bought in has a lot of big businesses in the area. So you find a stable market, even in a downturn, it’s not like people are going to disappear. If we look back in the past. So one thing we do is multifamily apartment buildings is a human need, right? We need shelter, that’s not going to go away. Right, investing in retail space we’ve learned through COVID is now or office space, right? Now we know oh, there’s this thing that we didn’t know about. In 2009. It’sAxel Meierhoefer:

21:14

not in Maslow’s pyramid, retail space doesn’t exist. The only talks aboutUnknown:

21:20

Yeah, self storage is actually really exciting, too. But anyway, it’s a human need. So you will always have people you flashback to 2008, when there was the housing crisis? Well, there was actually a lot of people who had to move out of their houses. And if they had to downsize, they didn’t go live in a van down by the river where they go apartment complex. Yeah, exactly. When things are good. I mean, you still have the younger population that’s constantly needing to move into apartments, you have three different classes of apartments, Class A, B, and C. So C being your lowest level, lower income, less desirable places, to actually like to buy Class C that are an up and coming areas that we can turn into class B’s, there’s a lot of things we can do. But if we play in the class beat realm, and we can turn them into class A’s. But as I’m saying, as the economy goes up and down, your tenants will also migrate between classes. So as the economy increases, or costs increase, you may have a bunch of tenants going from A to B’s because they can no longer afford the rents. And on the flip side, you can have tenants migrating from C to B’s and these days,Axel Meierhoefer:

22:27

yeah, what I was getting at is, you know, I’m assuming that anytime, when you guys, for example, analyze a deal, or if you know, you get to the end of the expected period, five, six years into a deal that anybody who would be on the purchasing and, and getting like a B, or maybe even an A class D, they would buy it outright cash rights, and they would have to look into financing as well. And I’m just wondering, you know, with all this fear mongering about rates going up and stuff like that, if that could make it harder in the future, because I know that people, you know, in our system with the idea where to go up, people always ask what are the risks? And what do we need to anticipate? And it’s not necessarily how likely you know, is it definitely going to happen, nobody can predict that. But what are the things that people should be aware of, and I think this increase interest rate environment, and therefore how much actually does it perform after you went through your cycle and then looking for a buyer, so you can basically exited the I’m curious kind of how you address that.Unknown:

23:27

This is all very deal dependent. But I’ll give you some examples. One thing that a lot of syndicators are doing are leaving what we call meat on the bone. So maybe we renovate half of the units to a medium grade, and we renovate half of them to the top notch apartments and get max rents out in five years when the interest rates go up. We don’t necessarily just have a turnkey apartment that’s fully renovated, and there’s no meat left on the bone for forced appreciation, we have left half the apartment complex to have some rent growth. And that’s possible somebody can come in and say, Yeah, we have not only proven that you can bump the rest of the apartments up and get these proven rental rates, they might be able to show a business case that that works. So that’s one thing we a lot of times leave meat on the bone for the next guy to come in and make more money with forced depreciation. There’s other aspects where if we need to write it out for the long haul for whatever reason, we can do a cash out refi because we have already put value into it, the lenders will come in and say, Well, you guys are operating with much higher noi, you are now worth this much more, we can do a cash out refi when we do those, which those happen quite often, we give the investors say 75% of their original investment back. So you put in 103 years later, we’ll give you 75,000 of that back. You can turn around reinvest that somewhere else while you’re still writing out the deal with the same amount of equity ownership, and if we for whatever reason, just have to write it to seven years until Well, the market changes or interest rates come back down, you still are taking advantage of those cash flows. So there could be 20 different scenarios we could go through. But we do get pretty creative. And in this environment we made sure we underwrite super conservative, we don’t go into details with slim margins, because we’re getting into apartment buildings. And it’s not if something happens, it’s always when something happens. And so we underwrite conservatively to have that buffer to cover ourselves in those rough times whenAxel Meierhoefer:

25:31

that’s cool. And I think you already kind of that would have been part of my next question, but you already covered that basically, for, you know, how does the exit look like? I think you mentioned one scenario, as you just described it, you know, with a little bit of a positive twist, somebody that maybe got into a deal with you three years ago, they have maybe a year to go, if everything works, normally you find a buyer, the buyer buys the property, you know, basically now you have a chunk of money. What does that mean for somebody who participated as a limited partner in a syndication? Do you always work on transitioning them over into the next year? Or?Unknown:

26:06

Yes, absolutely. Okay, so I talked about this tax depreciation. Now, to expand on that a bit more, we this year and 2022 alone, we can depreciate the entirety of the asset 100% of the asset in that first year. So you get this huge paper loss when you file your taxes. However, when we go to sell the deal, you have a big capital gains, income coming in, and a lot of people have that money in there just to go for the long haul. So typically, they turn it around, they’ll put it in another deal, then you get another big tax depreciation on that next purchase. So people are kind of riding this wave of if I continue to just reinvest it, I’m still getting cash flows, quarterly cash flows, but I’m also trying to protect myself from a big tax hit by dropping it right back into something else.Axel Meierhoefer:

26:54

And so the longer term investor, would it be fair to say they’re either going from smaller to larger deals or from just one being invested in one deal then into and then maybe in four and so forth?Unknown:

27:06

Yeah, it’s there’s a couple of different ways you can play it. We like to do diversification where we you can diversify yourself, not only in multifamily assets, like I’m going to invest in a class B here, and I guess a texter in Augusta, Georgia, and then I’m gonna buy a Class A and Dallas Fort Worth, right, a lot of people diversify themselves across the country, right? Diversify across different markets. And then there’s a snowball effect that happens when you start investing put 50k in this year, if you can afford to put another 50k in next year, eventually, that money starts coming back to you. And that money may come back sooner, because a deal may close sooner. If we meet that average, 15% IRR over five years that equivalent if we meet that COVID In three years, which is like 35% return, we may sell, because we can get out of the deal sooner you get your money back sooner, you put it in another deal, or there’s a cash out refi of and you take most of that money back already and dump it another deal. So a lot of people will end up just starting to put their monies in a bunch of deals, and then I don’t like having my money distributed everywhere, right? I don’t want to have 20 different opportunities. So I’ll start putting bigger chunks, right? We have people that are half million dollar investors, there’s million dollar investors, so they’ll just buy into a really large deal with a million dollars.Axel Meierhoefer:

28:23

Yeah, that makes sense. And thank you for describing that. Because I think that gives people an idea, you know, how does this look like? And how long is the money in there? What is my ownership? And then also, what can I expect to get out of it when I’m selecting this kind of investing? I want to really thank you for that. So coming kinda like towards the end of the show. And I told you before we even hit record that I always like to kind of somewhat surprise questions, but I asked all of them to every one of our guests. The first one is, and it doesn’t have anything to do necessarily with real estate. But if you had free choice to meet somebody that you always wanted to meet either current or maybe even in historically, who would that be in mind,Unknown:

29:04

let’s stick with the aerospace thing for I would really love to go back to the 1960s during the Saturn days of Saturn five days, right missions to the men talk to some of those first astronauts, specifically Neil Armstrong himself. He’s a very unique character. He was very calm. He’s not really outspoken. It would be fun to just get him isolated in a coffee shop and pull as much out of his brain that I could.Axel Meierhoefer:

29:29

Yeah, actually, I want to ask you real quick and this is something that listeners who aren’t that much into aerospace in space have to look up because I’m not going to explain it but are you excited about Polaris Polaris the recently announced three mission Polaris thing that Isaac man is going to be on?Unknown:

29:47

Hi, yeah, I’m not as much up to date on some of these.Axel Meierhoefer:

29:52

Just show them to my mind because you said polo, right. Like in parallel to Apollo for the nerds. There was also something called Gemini. Yeah, which was basically the program where they tested in kind of semi lowers to medium Earth orbit or the systems, you know, like leaving the capsule and Survival Systems and stuff. When you look at that stuff, what they actually did and what the capsules look like and stuff that totally cowboy jockeys, crazy people to even do that and try that, yes. But it was basically necessary to ever have a chance to fly to the moon and get out of the eagle and go actually and jump on the moon like Armstrong ultimately did. Right. And so now, just about a week or two ago, Jared, Isaac man, the guy who was basically the mission commander on the SpaceX mission for the inspiration for and together with SpaceX, that they’re going to do three missions. And the first one is called Polaris dawn. And it’s basically in a way in modern times, 21st century doing what the Gemini people did.Unknown:

30:50

Yeah. And then ultimately, Mars right through. Yeah,Axel Meierhoefer:

30:53

he wants to be the first human to be on a spaceship from SpaceX. So I guess nobody knows how long it’s gonna take before. It’s actually gonna happen. But starship is such a amazing project, if it actually works out. It’s kind of the Apollo of the 21st century, I would say,Unknown:

31:09

right? It’s just absolutely massive. Yeah, I hadn’t heard that recent news on Yeah, so maybeAxel Meierhoefer:

31:15

this is something you know, that you and I can do it out on for Polaris dynasty. And it’s supposed to be the end of this year, so we’re not talking way into the future.Unknown:

31:26

Yeah. And then their capsule is pretty mature. So that’s cool.Axel Meierhoefer:

31:30

Yeah. I don’t want to ask you as a former Boeing guy, if you think Starliner will ever make it.Unknown:

31:38

So, yeah, there’s now a documentary out there about Boeing and how it Yeah, IAxel Meierhoefer:

31:43

haven’t seen it yet. I heard some comments about it. Also about 737. You know, so I was kind of almost tempted to ask you if you worked on the 787 battery, when I said,Unknown:

31:54

I did not work the battery. But I know a lot of friends who got it. We call it the tiger team, the friends, the people that get sucked into solve the problem, and I know how the problem was solved and all the issues behind it. Yeah, I’mAxel Meierhoefer:

32:06

sure. Okay, so the other question, another kind of surprise, unless you have listened to a lot of our podcasts. Question is, if you had a time machine, Flynn, where would you go forward, backward, when you can go anywhere? And why would you go there?Unknown:

32:19

You know, it’s funny, I kind of have two answers. One, I would like to go forward just because I really love like, space travel and afford in the future, it’s just going to be easier and easier to get to do that. But then in history, yeah, there’s talking to the Apollo astronauts. But you go back further, I think it’d be really cool to see dinosaurs just in real life, right? That’s because it’s just such a, it’s so hard to imagine. All we see is bones. And now have scientists think they have feathers. Right. Let’s just go back there and see the the enormous beings that were there at that time.Axel Meierhoefer:

32:52

Yeah, I think that’s fascinating. I mean, the going forward, I guess is you know, people like you and me, who basically willing to be in aerospace and be a little bit Daredevil, but they’re still always the safety aspect, right? Even I know, Boeing or any other any entity that I’ve ever come across and has to do with Aerospace Safety is always number one, right? So to be able to say, Well, I would like to go like to maybe 245. But because I’m assuming that it’s going to be safe to go to Mass then.Unknown:

33:19

So I, that’s a great question. I It’s funny, we joked at Boeing that we couldn’t put a new technology on an airplane unless it’s flown for 10 years or something. It’s just it takes the 787 as we advertise it is like state of the art technology. And it is state of the art for commercial aircraft, but all of that technology on there. I mean, it was developed in the 70s and 80s. And we’re just finally now getting qualified to fly commercial aircraft. We just now got all of the engineering, we call it the allowables. We have to do just billions of dollars of testing to get the data we need in order to justify putting it on an aircraft to prove that it is safe. So yeah,Axel Meierhoefer:

34:01

I can totally relate. I mean, the thing is, we started this conversation and it sounds like we’re finishing this conversation with you can talk about things without really getting very specific. I mentioned in the beginning that part of my Air Force career was in test flying and before I came over here to the US in a role is like an exchange officer before that, I was involved in an electronic warfare system that had basically a quad chip assembly of Pentium five processes when people were basically raving about the Pentium two Pentium three in commercial laptops. Right and I couldn’t say what it is and how it is and how it can work like four at a time and but the capability in the end was that within you know why going anywhere with 600 knots and aviator knows how fast that is. Bracing me 10 miles a minute at that speed within three seconds to analyze to computer analysis cake relation of phased array shift where something on the ground is located within three feet. Right? And yeah, you couldn’t even if you wanted to explain that to somebody, people would literally claim that those kinds of computer capabilities just don’t exist. They literally flat out would have denied that that exists. And we were using it. We were developing it, we were integrating it. It’s that’s the other kind of exciting part that there’s stuff out there that not necessarily everybody is aware of. And I don’t know how far it’s gone by now. But yeah, when people say, Okay, this kind of data projected forward. Yeah, no, I mean, I’m oftentimes saying this, you know, we have fear mongers out there. But I’m excited when somebody like Elon Musk says one of the biggest things we’re working on is Tesla, but I’m kind of back in that frame of mind to say, Wow, imagine what that could do. Right? Even if we I don’t know what all the detailed technology that goes into it, but it’s amazing what?Unknown:

35:49

Yeah, absolutely. It is fun to see. I mean, sometimes we put standard technology on airplanes and use it in a very unique way to get unique answers.Axel Meierhoefer:

36:00

Yeah, and that’s actually I mean, one of the things I dug a little bit into how SpaceX actually became what it is, and this whole, like propulsion is landing and stuff like that. And one of the big things is that they were just saying, Okay, we because we’re not necessarily falling under the same exact regulatory requirements, we are going to see if regular stuff that is approved for industry, but not necessarily approved for space can work and put things together and didn’t do the regular NASA Space testing and acceleration in development. It’s just mind boggling how much faster they could do things because they’re a private entity that was willing to say, Okay, we shield a computer chip and let it do the calculations, just because it’s not NASA approved doesn’t mean it’s gonna fall apart. And case after case after case after case they were proven right. Yeah. All right. But enough about that kind of code stuff. Before we close Flint. How can people who kind of got the buck now and say, Wow, this is kind of cool. I can put money in with flint and join a coup and invest and not have to wait for 20 or 30 years to retire? I can maybe actually get to a point sooner than AXA in his approach, which doesn’t make it better or worse, which is different. How can they get a hold of you?Unknown:

37:13

Yeah, so the best path is just to go to Vestas capital.com. That’s V su s capital.com. And yet connect with me. So we take accredited investors, we also take non accredited investors for some deals as well, we just you gotta get on the phone with me. So you can find me there.Axel Meierhoefer:

37:30

Yeah, that’s very good. And we will get the exact right email and the website and all that stuff in the show notes so people can actually get in touch with you, and maybe they become syndicating or syndicate invest. Perfect. All right. With that being said, Flint, I want to thank you for being on the show spending your valuable time. Any last words,Unknown:

37:48

I enjoyed being here. And I always love talking about aerospace. Yeah.Axel Meierhoefer:

37:53

People that listen to us, we’ll find you know, like 30% of this real estate show has been on aerospace today, but I think that’s okay. Well, thanks again for being here. Thanks for listening. And I hope you enjoyed today’s episode of The IDEAL Investor Show more info and the links we mentioned during the show in the show notes or you can go to our website at idea where to grow a.com and sign up for the Apple podcast link. And if you’d like to talk to me sign up for a strategy call. Hopefully you want to share what you learned with your network and bring more people in we are really eager to hear your comments and until next time, be well stay safe and ciao.