Estate Planning for Real Estate Investors

Mike Hambright (00:00.625)
Hey everybody, welcome back to the show. Today I’m excited to talk about this topic. This is something that my wife and I and our family went through last fall. It’s a topic of estate planning. If you’re an active real estate investor and you’ve worked your butt off to build something, you’ve kind of changed your family tree or you’re trying to, you wanna make sure that your estate planning is buttoned up. If you’re a real estate investor, we’ve all bought houses from people that clearly did not do any estate planning, maybe didn’t even have a will or anything, and you see what it does to just tears families apart.

And it basically, if you’ve built something amazing and worked your whole life, that could all just disappear and honestly destroy your family in the process. You wanna make sure you know this. We’re gonna talk about estate planning with the one and only JJ Childers. So JJ, welcome to the show.

JJ Childers (00:42.668)
Thanks, Mike. It’s pleasure to be here with you.

Mike Hambright (00:44.349)
Yeah, good to see you. for the record, I do have some books behind me, guess here. I’ve also had a Zoom type background that makes it look like I’m in a library, you actually, of course you’re an attorney, so you actually do have a whole bookshelf of real books back there. It’s not AI.

JJ Childers (00:58.606)
I do. It’s kind of funny because I actually have been like trying to get rid of some of the books because I’m saying there are some that are essential resources that I go to on a regular basis and then the ones that I said, okay, I’ve already read that book. I’m saying I got to get rid of that to make room for other books to replace those.

Mike Hambright (01:03.534)
Yeah

Mike Hambright (01:14.907)
Yeah, yeah, awesome. Well, hey, before we jump in, this is an important topic and I’ll say, you know, know this story already that my wife and I, we had a will, it was like 10 or 12 years old and our businesses have changed dramatically in the past 10 or 12 years. Our family has changed. My son’s getting out of high school now, he’s getting older. Like you kind of think, when you’re younger, you think you’re invincible and then as time goes by, truthfully for us, you know, my mom passed away a couple of years ago. We had an aunt.

pass away unexpectedly and you start to kind of see what happens with the family and you’re like, holy cow, like we gotta get our, pardon my French, we gotta get our shit buttoned up here because you never know when your card’s gonna be punched, right? And we didn’t work this hard to like have it all like destroyed possibly or destroy our family even worse. So estate planning is really important and I think you’re gonna share some good knowledge today and some good insights for folks. Before we jump into that, tell everybody a little bit about your background.

JJ Childers (02:09.1)
Yeah, well, you know, it’s kind of interesting. I grew up, my dad was and is an active real estate investor and developer. So that’s kind of how I got exposed to real estate is just being around it, going out to properties, going to look at them, doing different things like that. And then just he trained me on it. So.

got me kind of involved with that where I did my first deal. I mean some of the people watching this right now would be like, man you’re late to the party. My first deal I was 20 years old and that I did on my own and when I say on my own it’s kind of funny my dad was like, hey tell you what here’s what we’ll do we’ll partner on this deal. You go do it put the deal together and then I will put up the money. And then I got this great deal you know is in outside of Dallas. I got it with zero percent interest and I just had to put money down.

and then he would carry it for five years. So I was going, hey, this is great. And then my dad says, okay, that’s awesome. But guess what? I’m not going to put up the money anymore.

So I was freaking out. said, well, hold on a second. What did we talk about? We did the deal with my name and or assigns. He said, why did you do that? I said, well, so could I, I could assign it to somebody. So essentially I did a wholesale deal while I was in college and didn’t make a fortune, but at the same time, it seemed like a fortune to me. So that’s how I got really involved in real estate. And then that kind of made me say, you know, I want to do more of this. And my dad taught real estate seminars. So I would work at those and then

Mike Hambright (03:20.88)
Yeah.

JJ Childers (03:31.254)
getting out of college, I thought, you know, I want to do this, but I don’t have the same experience to really be much of an instructor. So I decided to go to law school and then going to law school. That’s where I focused everything on. All right. How can I learn about asset protection, estate planning, tax reduction? Because those were the things, thankfully, my dad was able to kind of give me that guidance and say, OK, this is a way that you could be very beneficial, not only to me, but also to a lot of my students. So it’s kind of almost like a built in path on that. So that’s

what I’ve been doing ever since I got out of law school and just really kind of took jobs to make sure that I could get some of the experience and then I’ve been speaking as real estate seminars and teaching people how to structure themselves not only from a asset protection standpoint but putting their estate planning together as well and then got my LLM from Pepperdine University School of Law in dispute resolution. there’s kind of you know you can deal with what happens if you get sued but then we got to make sure that we don’t

sued to begin with. So dispute resolution can be an incredible way to do that.

Mike Hambright (04:34.97)
Yeah, yeah. So let’s talk a little bit about when I like how do you describe if somebody were to say like, what does estate planning mean? Like just let’s just kind of start with the ABCs. I guess let’s start there. What does that actually mean? Or how do you describe that when somebody asked that?

JJ Childers (04:51.086)
Well, you know that that’s actually a great question, and it’s a great question to start with because I think that’s one of the biggest challenges that we have is that most people, when they hear the term estate planning, the whole term estate planning, that first word estate, they think, well, I don’t really need that because I don’t have enough money there yet. I’m thinking I’m picturing this sprawling estate. And until I have that, I guess I don’t need any sort of plan.

And it’s really, I tell people everyone has an estate. I mean, if a homeless person has an estate. So whenever somebody passes away, now we’ve got to have a transition for what’s going to happen to that estate. Now, obviously, if you don’t really have any assets, it’s not as challenging. But when you have assets that you want to pass on to your heirs, your beneficiaries, your family members, charities, you need to have some sort of plan, because if you die without a plan, that’s called dying intestate. So if you die intestate,

every state has their own laws of intestate succession. So basically what that means is that if you die without a plan, the government has one for you and they’ll tell you how your assets are going to be distributed. Well that’s not necessarily what people want to have happen to their estate. They want to plan it themselves. So estate planning is really that process of planning for the transition of your wealth whenever you pass away to whomever you want to leave it to.

Mike Hambright (06:11.232)
and I just had a good friend of mine on the show here yesterday, that his whole strategy is to go, he’s finding basically people that have probably passed away, but he finds them through, usually they owe several years of back taxes, and what happens is…

you know, the if it was a real estate investor, whoever that person is, they’ve got real estate tied to the name. He goes specifically after commercial and land, like bigger deals. The person passes away. The family’s like, what the heck is this? We didn’t even know anything about this. They stopped paying taxes a couple of years later. He’s picking it up for pennies on the dollar. And we just talked about the importance of everybody listening to this show of having a plan, right? I’m just like, what’s going to happen to my real estate and not dumping that burden on your family? And that was

one of the big issues that my wife and I realized last year after you know I said my mom passed away about two and a half years ago we had another family member pass away we had a couple front people some people that are in our mastermind by the way passed away what two different people died from from COVID and one guy died from you know prostate cancer just like out of nowhere like found it and 90 days later and I just know I’ve seen what it does to families with those folks or all of us that have bought real estate have bought it from

a descendant that kind of inherited that. And you can see how the siblings fight and everybody thinks they’re owed something else and it really can tear families apart. So you really kind of need to have a plan for that, which is the legal plan for that, I guess is an estate plan, right?

JJ Childers (07:44.334)
It is, and you know, the thing is, a lot of people just, kind of, we think we’re invincible when we’re young, and we say, ah, well, you know, the average life expectancy is 70 some odd years, and people may say, well, geez, I’m 30, I’m 40, I’m 50, I still got several decades to go, and the reality is, like you said, Mike, I mean, we don’t know, I mean.

people pass away early all the time. So you’ve got to really make sure that you have that plan in place before it’s too late rather than after it’s too late. Which sounds like common sense but you know I kind of tell people whenever I’m speaking at at seminars I’ll say I like to think there’s no such thing as a stupid question but there are some that are borderline. I’ll say here’s a question when’s the time to have a plan before it’s too late or after it’s too late? And people kind of laugh and they say well before I say okay that’s kind of a stupid question but the reality is what do people do in practice? When do they get

burglar alarms? Well, it’s after they’ve been burglarized.

Mike Hambright (08:36.25)
All right.

JJ Childers (08:37.186)
So that’s what happens is that we put stuff off thinking, it won’t happen to us or we don’t need to worry about it. But we’ve got to make sure the thing is we know this is not the motivational part of my talking points today, but we’re all going to die. You know, that doesn’t get people excited, but the reality is it’s going to happen. It’s just a matter of when. So we’ve got to make sure that we have that plan in place for what’s going to happen to everything we’ve worked so hard. mean, especially when you think about the investor fuel community and how hard people are working to build up assets.

And truly not just assets, but income producing assets. We’re building businesses that can be passed on. If people get that business and they have no idea what’s happening, then they don’t know how valuable that business is. It’s not just the value of the property, it’s that income stream, the cashflow, that makes it even more valuable.

Mike Hambright (09:26.768)
Yeah, for sure. Yeah, and what would happen if…

if you pass away and there’s no plan for what to do with that, right? It’s like, it’s just gonna free fall, like, you know, people are gonna stop paying rent because the checks aren’t being cashed or whatever, like things could go south real fast, right? So when folks ask you about a will, like obviously there’s people that have a will and estate planning is certainly way more robust, but how do you explain the difference between a will and kind of overall estate planning, I guess?

JJ Childers (09:58.009)
Well, you know, it’s kind of when I typically talk with people about it, I start off by talking about the need for an estate plan like we’ve done so far. Kind of saying you want to make sure that there is a plan in place and making sure that people recognize what happens if you don’t have an actual formal written plan in place. Most people don’t understand intestate succession. They just say, okay, I guess if you leave a family behind, you leave assets, it’s going to go to the family.

Ideally, that’s the case, but we don’t always know depending upon your family structure and your circumstances. It could end up going to somebody if you don’t have somebody built in, then you end up saying, okay, it could go to a, you know, a third cousin twice removed that you’ve never even met before based on those laws of intestate succession. But even if it does go to your family, if you don’t have that plan, the intestate succession, it has to go through probate. So what happens with people say, okay, let me get a will set up.

they think, okay, that’s going to take care of everything. It’s going to solve all my problems, cure all my ills. And I say, not necessarily, because it’s still going to have to go through the probate process. Now there are ways that we can avoid the probate process with, you know, changing our deeds to maybe use beneficiary deeds or, you know, Texas will come ladybird deeds and we’ll have different things, maybe pay on death, designations, transfer on death for our bank accounts. But for certain things, if you don’t have some of those set in place, then

you know, you’re going to deal with the probate process. And with probate, they typically say probate on average is anywhere from 11 to 14 months. And what probate is, because a lot of people just, they hear probate, but they’re going, I don’t know what it is. And I typically tell people, say, let me give you my brief description of probate, which for many people, this may solve, may say everything to you. Probate is a process set up by the government. Now, for some people, say, said, I got to get out.

Mike Hambright (11:48.709)
Hahaha

JJ Childers (11:49.566)
then I say, let me give you my more thorough definition. Probate is a process set up by the government for the orderly distribution of assets upon death. Now, it doesn’t sound so bad. I think there should be a process set up for the orderly distribution of assets upon death. I guess the challenge I have, Mike, is with three words there. Those three words are by the government. You know, because think about it, is the government known for its efficiency in processing?

Hardly. So as with all good government programs, there are many, many, many steps involved in the probate process. And for some people, I would tell them, you know, to kind of go back to just the will, there are circumstances that I see that I tell people, I’m like, you know what, based upon your asset makeup, as far as what assets you have and the type of assets and those asset classes, a will may be fine.

However, I work primarily with real estate investors and real estate. I call them real estate operatives because maybe they’re not even investing. They’re just transaction nearing. And I say, well, guess what? When you have certain things that you’re doing like that and you’re running a business, now your circumstances, your situation is quite a bit more complex than the average person.

Mike Hambright (13:01.766)
Yeah.

JJ Childers (13:01.952)
So you’ve got to make sure you’ve got a plan that’s more complex than the average person because one of the things that we always want to address is the concept of ancillary probate. Ancillary probate basically means you’ll go through probate in the state in which you live but you will also go through the probate process for any assets that you own in states that you don’t live in. let’s say that and as you know quite well

One of the great things about real estate is that, we can do it where we live, but we can also fish in other ponds. If we say, you know, the market’s not as great right here, and you know, you and I have talked about different types of members of Investor Fuel and how they’ll put together turnkey deals for people in maybe emerging markets or some of the markets that are a little hotter, or maybe that just are more affordable for some people.

Mike Hambright (13:34.022)
Hmm.

Mike Hambright (13:50.47)
Right.

JJ Childers (13:50.838)
Because I talk to people in California all the time and they’ll say, you know, I’m not necessarily doing a whole lot of rentals in San Francisco. I just can’t, I can’t afford it. So they’ll say, okay, let me buy properties in more affordable states. Well, if you do that and you don’t have a plan for how you’re going to avoid probate and you’ve got these rental properties, not only are you going to go through probate in the state in which you live, but then you have to go through probate. Well, your estate’s going to go through probate and your family’s going to have to deal with it in a completely different state or more.

multiple states. So now that 11 to 14 months on average for probate, that’s going to be quite a bit longer and quite a bit more costly.

Mike Hambright (14:21.777)
Hmm.

Mike Hambright (14:29.104)
Yep, yep. And so the alternative to that is using a trust, is that right?

JJ Childers (14:33.91)
Well, that’s at least one alternative, especially when we’re talking about for real estate investors. I always advocate the use of a revocable living trust. And really what that is, a revocable living trust, first of all, as the term implies, you can change it. It grows with you. It can be completely revoked. If you just say, you know what, I’ve completely changed my mind. I even want to have this anymore. Or I’m going to set up a new one, whatever it is. With an irrevocable or irrevocable, basically you’re kind of locked in. we always want to have that flexibility because

especially when I’m dealing with real estate investors, one of the things that we all know is that flexibility options are essential. So we’ve got to make sure that we have that flexibility. A revocable living trust gives you that. Now, the reason it’s called a living trust is that the way that it works is basically during your lifetime while you are living, hence the name living trust, is that all of your assets are transferred into the trust at that time. So then whenever you pass away,

there’s nothing that has to be transferred. See probate essentially is the probate court supervision over the transfer of your assets. Well with the living trust the transfer has already occurred so there’s nothing that has to go through probate. But I do want to point out something in particular because typically people ask me and I get this all the time I was actually doing a webinar just yesterday to a group talking about estate planning and one of the things that that I brought up was people ask okay so do I have a will or do I

a trust? And I say yes, because essentially you’re going to have both. You’re going to have their trust as your primary estate planning tool. However, we also include a last will and testament, what we refer to as a pour-over will, because a trust can only apply to what assets have been transferred in. Because just as we mentioned, as far as the transfer occurs during your lifetime, well that’s as long as you’ve transferred those assets into the trust.

if for some reason you fail to do that, then those assets are outside the trust and would be subject to that intestate succession that we talked about. So the pour over will lets it pour back into the trust. So it’s going to be distributed pursuant to the terms of your trust. And that’s where it really gets, you know, where we can get creative as far as where, how we structure the terms of that trust.

Mike Hambright (16:36.593)
Right.

Mike Hambright (16:53.232)
Right, right. And correct me if I’m wrong, I probably will say this a little bit differently than you would say it is. Let’s just say we have a rental portfolio. We basically took all of our assets, just like you said, we put them into a trust that…

we had basically we ended up high. So we were like, you know, we have a lot of different businesses. It’s complicated. It’s complicated for us, for my wife and I. And whoever were to pick that up next, it would be a mess, right? So we’ve also, in addition to a trust, we’ve started to create plans of like, you know, if you’re reading this.

We’re no longer here and here’s what we think you should do with this business and that business and these assets and kind of a plan of like what to do, you know, in the event that something would happen to both of us. And one of the things that we realize is like my wife and I, travel a lot, we’re together a lot. So it’s not, you know, unthinkable. It’s more of it. I hate the idea of it, but that if we were to ever get in an accident, we would probably both be in that accident because we’re there together, right? And so you need to start thinking about those things.

One of the main differences, one of the things that appealed to us is like, if we just had a will and we’re like, hey, our son, our son who’s 17, by the way, gets a whole portfolio of rental properties, multifamily, single family, like all this stuff. And they’re just like, you own it. Like he has no idea what to do. But, and we’re like, there’s nobody in our family that we would want to burden with having to be the trustee of that. So we basically got a professional trustee or corporate trustee or whatever that’s called. And there to oversee, you know, some of it is we’re like,

just liquidate these things, sell that. Some of them are ongoing businesses where I have partnerships and things like that where revenue could still come in without all of a sudden my 17 year old son today having to basically say, here’s the keys, go do whatever you want with it. probate, I guess maybe there’s another structure for it, but if it went through probate, then they’re just like, here’s the keys, good luck, right? And we have somebody that can kind of oversee.

Mike Hambright (18:49.716)
our estate for many years to come until my son is able to, I think we literally had it set up to where he won’t become the trustee until he’s like 30 or 35 or something like that. Cause you know, what a burden that would be on a young child of any sort, let alone a bunch of kids that are just going to fight over it maybe.

JJ Childers (19:03.879)
yeah.

JJ Childers (19:09.23)
Well, and that’s the thing, that’s part of, you when we talk about pursuant to the terms of the trust, you know, that’s a great example right there because I always talk to people, especially if you have minor children, but even younger children, when I say younger children, that maybe they’re, you you mentioned 17, sometimes other people that they may have, you know, in their 20s, and I still say, do you want to have a distribution schedule? Something along the lines of, you know, maybe you get a third at 25, a third at 30, a third at 35. You know, I, they,

the most restrictive I’ve ever seen. had a client one time that said, you know, I like the idea of that. Tell you what, how about they get a third at 45, a third at 55, a third at 65? And I said, well, that seems a little restrictive. said, well, you know, by that point, they should be financially responsible. I said, okay, you know, it’s your plan. So, but let’s talk about what happens if you just say they don’t get outright distribution. You can establish your trust in a way that says, hey, I’m still gonna…

provide for my family members, it just means that they don’t get unfettered access to it. So maybe they can borrow against it. Let’s say that they wanted to get involved in real estate, especially, you know, somebody like you that has investor fuel, the members of investor fuel that can say, hey, you know what, we’ve got a, you know, an unbelievable library of resource materials that, geez, we could train our children on how to become real estate investors if that’s something they wanted to do.

So you can leave part of that behind and leave that in the conditions. They can get access to some parts of this so long as they complete at least X number hours of training or X number years of training, whatever it might be. And then they’re qualified to be better positioned to now take over certain assets. You still don’t have to give them unfettered access to it at that point. But you could even say that, you know, this money is sitting here held in trust for them. But

Mike Hambright (20:49.19)
Yeah.

JJ Childers (21:03.778)
The great thing about that is if it’s held in trust for them, that’s not an attachable asset in the event of a lawsuit. So let’s say they get into a car accident. Somebody sues them, finds out that their parents were wealthy and they’ve got a trust fund. Well, if the money’s held in trust and is not distributed to them, they can’t access those funds. So it’s a tremendous asset protection tool at the same time. But then you can put in place that basically we’re going to hold this and let the assets continue to grow.

Mike Hambright (21:22.245)
Right.

JJ Childers (21:32.482)
continue to operate and they’d still have taxable income there. But at the same time, they have access to something where, let’s say they wanted to borrow money for school, depending on what age they are, to increase their education. They could start a business. They could use it to purchase a home. They could get involved in more real estate. You know, as long as it meets the conditions that you’ve laid out in that, essentially in that trust agreement, which that kind of leads me to something. I know you and I have talked about this before.

But one of the things I share with people pretty regularly is, you know, a tale of two dynasties. And when I say a tale of two dynasties, I’m talking about the Vanderbilt family and the Rockefeller family. Both of which, the time that, you know, in their prime, they were the wealthiest families in the entire world. Well, when you look at that, you say, okay, the wealthiest in the whole world. Well, let’s see where they are today. On the list of the wealthiest, there are still Rockefellers on that list.

There’s not a single Vanderbilt on the entire list. And you think, well, how could that be? How could they go from being the wealthiest, having $100 billion in today’s equivalency for the Vanderbilts to now not having a single person on that list? And it took just 70 years for them to exhaust the funds. Three generations and that was gone. Compare and contrast that to the Rockefellers who were still on the list. how did they do it?

Mike Hambright (22:34.534)
Hmm.

JJ Childers (23:00.696)
Both of them had trust, but it’s how the trust were done. So it’s not necessarily just saying, okay, well, I guess I need a trust. Well, the Vanderbilt’s had a trust, but because they didn’t have the right provisions and safeguards and restrictions, guard rails, if you will, because they didn’t have that incorporated into their overall estate plan, the families ended up squandering the money. There were divorces that kind of diluted it. There was substance abuse, different gambling.

A lot of things like that that caused it to basically be dwindled down to nothing. The Rockefellers, because they had their plan set up the right way, now they’re still on there and they continue to thrive on a regular basis. They’re always mentioned there and still synonymous with wealth.

Mike Hambright (23:45.915)
Yep, yep. I just had a guest on the show here yesterday that we recorded in the office here in my studio and…

I won’t say anything that he didn’t say there, but when he was young, I don’t know he was 19 or 20, his grandparents passed away and he inherited, you know, he said seven figures. I don’t know if that was 9.9 million or 1.10 million. But he’s like, it was gone in two years. He just pissed it away. And you know, that’s what’s gonna happen with any young person most likely, right? And so if you’re the one who’s writing up those rules, you get to make sure that that doesn’t happen.

JJ Childers (24:05.336)
Yeah. Right.

JJ Childers (24:21.9)
Yeah, and the other thing is that, you know, you could even tie it in where you say, okay, you you mentioned talking about having a professional trustee or corporate trustee. You could even appoint kind of a board of advisors, if you will, a board of trustees that is essentially in charge of managing the overall funds and they’d be compensated for this. But their job is to safeguard it, preserve it and grow it. So the beneficiaries are taken care of for generations to come. And really, that’s about building a legacy.

Mike Hambright (24:45.051)
Yeah.

Mike Hambright (24:48.976)
Yep.

JJ Childers (24:51.566)
It’s not just saying, I passed on a bunch of wealth. No, you passed on not only just the wealth, but your financial philosophies, your core values, your principles, you know, all of the things that really helped you build the wealth that you’re passing on. You’re passing things on that are worth more than just dollars and cents.

Mike Hambright (24:51.729)
Yeah.

Mike Hambright (25:05.477)
Right.

Mike Hambright (25:10.14)
for sure, yeah. We actually put in ours with our son that he has to basically be a good…

a good citizen, he can’t be getting in trouble, drugs, alcohol, going to jail, any of those things. Otherwise, he starts to get cut off. And eventually he’ll get it. But we kind of put those provisions in there that you have to be a productive member of society, essentially. we had to focus on defining what does that mean as well, because we could get very restrictive on that or way too loose, I guess. yeah, it was a big relief for us to kind of have that stuff.

JJ Childers (25:34.412)
Yeah.

Mike Hambright (25:45.487)
Of course, we also kind of went into it already knowing that we’ll probably change some things eventually, but we needed to get something down and locked in. But yeah, that’s great. let’s talk about like how do folks get started in this because it’s easy to want to do it. There is a process that you have to kind of go through and you got to kind of get your ducks in a row and really understand what the process is like. But how do you advise folks when they’re like, hey, we really need to do this. Like, how do we get started?

JJ Childers (26:14.85)
You know, a lot of times I’ll have people schedule a call with me and sometimes they’re a little intimidated. And when I say intimidated, I don’t mean because I’m just such a big deal. I mean, they’re intimidated that they’re like, I don’t know that I want to talk to anybody and feel like I’m going to get pressured into working with that person. So I always tell people, how about we two-step it? I typically say, you know what? You need to become more familiar with this overall process. So there are, you know,

I’ll teach seminars, have courses, I have books, I different things like that, but I also have things that I make available when I’m on programs like this and I say, you know, I wanna make sure that as my gift to you, hey, you watch this, I appreciate that, let me reward you. If you’re interested in doing this, I’ll provide you with kind of a comprehensive guide to what you need to know about estate planning. And not just estate planning in general, but estate planning in particular.

for real estate operatives like we’ve talked about, know, during the podcast. You know, just because it’s gonna be a lot different if I said, okay, here’s just a comprehensive guide to estate planning for just the average person. Because real estate investors have different types of concerns, they’ve got different types of challenges and different types of complications that can arise. So I put together a comprehensive guide that I make available and, you know, essentially typically we charge for this, but…

You know, because people are watching this podcast, I’m going to provide it as a free gift if they send me an email.

Mike Hambright (27:43.164)
Awesome. Awesome. What email address did they send it to, JJ?

JJ Childers (27:45.998)
Well, I’m glad you asked that Mike. Childers at advancedtaxgroup.com. Again, that’s JJ Childers, that’s C-H-I-L-D-E-R-S, as you can see on the screen here, at advancedtaxgroup.com. So if you send me that email and just say, hey, I want the guide or help me cover my assets or show me the money. I don’t care what you say. Just send me one to say, I caught you on.

the Investor Fuel podcast and I want to take advantage of that special offer you made.

Mike Hambright (28:17.404)
That’s great. Yeah. My inner circle and a bunch of folks that aren’t in my inner circle, those of you that are watching right now, you’ve worked really hard to get here. And so I’d encourage you guys to take JJ up on this. mean, it’s something that my wife and I knew we needed to do for a long time. We had a will. It was stuck in. I mean, the truth is, is we had a will and it said that,

The folks that were supposed to help us with this are my wife’s husband. I am my wife’s husband. My wife’s father, sorry, great, great guy, but he’s, you know, he’s in his early eighties now. And then the backup plan was my mother who passed away two and a half years ago. And we just, we just weren’t buttoned up. And, you know, we’ve worked really hard to kind of build all this. It’d be a shame that it ends with us. Right. And so for those of you that are listening, that have kind of built something here and worked really hard for it, you owe it to yourself and your family and your legacy to kind of have this stuff set up. we’ll, we’ll put

JJ Childers (28:41.287)
yeah.

Mike Hambright (29:04.872)
But JJ will put your email address down below for those that want to look in the show notes here and get access to this guy. think I appreciate you for sharing that.

JJ Childers (29:12.502)
No, absolutely. It’s my privilege to be here today. And I appreciate people watching this. So want to reward them and say thanks so much for tuning in and paying attention.

Mike Hambright (29:22.97)
Yeah. So JJ, if you wouldn’t mind, I’m going to jump out of the bushes at you here. You weren’t expecting this, but you’re a relatively new member of the Investor Fuel family. Would you mind just sharing a brief testimonial of what it’s been like to be a part of Investor Fuel so far?

JJ Childers (29:35.31)
gosh, I got to tell you, know, I started things off at the Big H Ranch, which, you know, that was amazing. Just being able to see what you’ve been able to build there and just, you know, showing the vision of what you’re going to be building as well. It was amazing. But it was, while that’s amazing and being able to see all of that, what I really liked most about it was I was introduced to members of the Investor Fuel community and I was able to just talk to them totally different than just most seminars that you go to. You know, a lot of times you’ll go to a seminar and you’re like,

okay, people are in there talking about, let me tell you about all my successes. You know, being there and just being raw with people and vulnerable and sharing just the actual nitty gritty of how you do things, I just said, you know, there’s something different about this group. Something different in that these people are just actually shooting me straight and saying, no, I mean.

yeah I’ve had some success but that came after there were a lot of failures and even sometimes it may be hey I was crushing it and then this happened and the fact that they were

that open with me and told me these things and then even said, hey, here are some ideas for what you do. And then sharing things was just kind of a collaboration. Sometimes you feel like you’re in a competition, but Investor feels about a collaboration. And then going to the last actual mastermind that was there in Dallas, you know, I was blown away. mean, just the quality of the people there, the caliber of the speakers that you had, and then really the hot seats, which I don’t know if people know about this, you

Obviously, if you’re part of investor fuel you do, but if you’re not you need to check this out because it was amazing to see every single person there got to have a hot seat where the focus was on them and they talked a little bit about Here’s what I’m doing. That’s working. Here’s where I feel like I need some I’ve got some constraints and I need to kind of identify ways to get around those things and the entire room is saying hey Here’s how something you may want to think about here’s an idea here’s maybe a possible solution and not doing it in a

JJ Childers (31:35.006)
way of just saying, let me tell you how great I am and here’s what you need to do. But saying, hey, we’re brainstorming here. We’re putting everything together. This is what we want to do. And I said, man, this, you know, my investment investor fuel, that’s some of the best money I could possibly spend because, you know, if you tried to get this anywhere else, which first of all, I don’t know where you would get this, but even hiring, say, a consultant. Well, it’s almost like you have a team of consultants, of people that are actually moving, shaking, making things happen, actually doing it.

So I probably rambled on a little more than you meant for me to Mike, but that’s just how I feel about it. And that’s what I want people to know about that.

Mike Hambright (32:12.752)
Yeah, I appreciate it. I appreciate you sharing that. Yeah, for those of you that don’t know, by the way, we’ve had Investor Fuel coming up on our eight year anniversary. Historically, we’ve had a bunch of investor groups based on the size of the business. And then here recently in the past 90 days or so, we’ve launched a service provider group, which is for people like JJ that are an attorney. We have hard money lenders, property management, a property management company that joined us that’s managing 22,000 doors. And we have some smaller property managers too. So all those that provide goods and services, we have a mastermind for you now that’s kind of baked right inside of them.

fuel where we’re all there together. So if you kind of fit that bill we’d love to talk to you. So JJ thanks for sharing this important info today. It’s again it’s just something that my wife and I have just gone through here in the past six or eight months and we were super relieved as a business owner I can tell you just the relief that fell off our shoulders when we finally had this set up because we’re kind of laying in bed at night thinking about these things sometimes and so I appreciate you sharing your insights with us.

JJ Childers (33:07.49)
No, absolutely. Thanks again. I appreciate you having me. if people want to take advantage of that guide, send me that email, jjchilders at advancedtaxgroup.com, and I’ll give you that comprehensive estate planning guide for real estate investors.

Mike Hambright (33:16.262)
Awesome.

Perfect, we’ll add a link down below too for those of you that weren’t able to get that yet. So everybody, hope you got some good insights from today. You didn’t only come this far to come this far, right? We all have this desire to kind of have a legacy that doesn’t end with us. And part of that is kind of having your ducks in a row, as they say. So make sure you check out JJ to learn more. Hope you got some good value from today’s show. We’ll see you on the next one.