Real Estate Breakthrough: The Courage to Burn the Ships for Success

Brett McCollum (00:00.942)
All right guys, welcome back to the show. I am your host, Brett McCollum, and I’m here today with Jason Seward. And today we’re gonna be talking about burning the ships. What does that mean? Before we get to it guys, at Investor Fuel, we help real estate investors, service providers, and real estate entrepreneurs to two to five extra businesses to allow them to build the businesses they’ve always wanted and allow them to build the lives they’ve always dreamed of. Without further ado, Jason, how are you, man?

Jason Seward (00:25.691)
I am great. How are you Brett?

Brett McCollum (00:28.208)
Dude, I am excited, man. Doing great. Really cool catching up with you, getting to know you a little bit pre-show and excited to do this, man. This is gonna be a fun one.

Jason Seward (00:36.398)
It’s funny you let in with Without Further Ado and I was just watching a video last night, a golf video, and somebody asked like, what does that mean, Without Further Ado? And the guy was like, it basically means, so I don’t waste any more of your time, Without Further Ado, right?

Brett McCollum (00:51.11)
Yeah, yeah, I know a guy and he’s a probate attorney actually and He always he has a podcast and for the longest time he would say without further to do Close Yeah, but man look before we kind of get into everything start talking about you know The show like give us a little background give some history who’s Jason, you know catching up to speed a little bit

Jason Seward (01:03.478)
Yeah, perfect.

Jason Seward (01:17.346)
Yep. All right. So I’m Jason Seward. I’m from Southeast Virginia, small town Surrey, Virginia, in the Hampton Roads area, kind of between Hampton Roads and Richmond. Been there my entire life. Born and raised here, went away four years for college, came back and I’ve never left. I’m in the same place I grew up and I am married, been married to my wife, Katie, for coming up on seven, 16 years. Let get that right.

And then I have two children, a daughter Emma, 13, and a son, JJ, who is eight. And kind of my background, like I said, I grew up here where I’m at now and went to work not long after college for an insurance company based here in Virginia. Worked for them for 17 years. All along the while, was kind of the last really heavily the last five years of that career. I was…

Brett McCollum (01:46.618)
You gotta get that right.

Jason Seward (02:16.193)
flipping houses, was buying, like doing the burst strategy, building a rental portfolio of single family, small multifamily. And that kind of took off starting in about 2017. And along with a business partner of mine, we just really hit it hard while still having a very demanding, both of us, corporate career. And ultimately got to a point in 2022 where kind of came to a head where I had from a time standpoint,

two full-time jobs. I had to give both things full-time attention and it was compromising my health, my family, everything. And the top priority for me in life is my family. So it didn’t take me long to realize I had to make a decision and I had to either hit the brakes on real estate and re-immersed myself into my career or cut the ties and burn the ships, if you will, on my career and go all in on real estate. I chose the latter.

And that was about two and a half years ago, and here we are.

Brett McCollum (03:18.938)
Yeah, dude, that’s incredible. I wanna ask you this, because I’m gonna be selfish and ask you a question for me. So I have, my wife and I, we have four kids. My oldest is 11, and boy, but I have an eight-year-old daughter now. I gotta ask you, like, she’s already starting to show signs of…

Jason Seward (03:26.252)
Sure.

Brett McCollum (03:43.002)
let’s just say hormones, okay? And I’m like, gosh, I’ve never done this before. What’s that been like as you’re going and going in through it? Like you’re in the stages of it too, man.

Jason Seward (03:44.718)
you

Jason Seward (03:53.11)
Man, yeah, you’re catching me on a morning where those hormones were hot and heavy with my 13 year old daughter. So she is an emotional roller coaster. And that started, you know, started seeing signs around eight or nine, but now she’s 13. She’s, she’s maturing very fast and everything like it’s.

Brett McCollum (04:08.9)
Yeah. Yeah.

Brett McCollum (04:15.163)
full on.

Jason Seward (04:21.556)
It is my wife and I laugh, but like we wait every morning. Wait for her to come down the steps. It was like, what version are we getting today? Right. Yeah. And the funny thing is it’s, it’s the mini version of my wife, right? So my wife can come with, right. Yeah. And they just go at it. And I’m just a spectator most of the time. So, yeah.

Brett McCollum (04:28.026)
version we’re gonna get today?

they do this, don’t huh.

Brett McCollum (04:42.532)
No, man, I’m like, God here, like, and now we have four of these. my God. Like, what are we going to do? No, I have two boys, two girls, but the girls in the middle wasn’t in, but my, my 11 year old, like, I didn’t realize how emotional even boys are, right? Like, yeah, we, you know, we’re just now starting to see this stuff.

Jason Seward (04:47.788)
Yeah, yeah. Do you have four girls? Okay.

Jason Seward (04:58.326)
Yeah. Yeah. mean, right. And my eight year old who is extremely hyperactive, I mean, he’s just on the go constantly a troublemaker. Like he, he pokes at my daughter constantly to get her fired up. And then we’re in the middle mediating a situation again, you know, so.

Brett McCollum (05:13.762)
yeah.

Brett McCollum (05:17.796)
Yeah, that is, so our ages are 11, eight, six, and two and a half. Yeah. And we thought, so we had three kids for bam bam bam. We know what we’re doing, okay? Because our kids, like we know what we’re doing. These kids are all pretty chill. mean, they’re kids. They’re gonna have their moments. But like, we got it. Baby four, this new guy, is a different kind of kid. You know, like, my.

Jason Seward (05:23.086)
Yeah.

Jason Seward (05:30.796)
Hahaha

Jason Seward (05:43.23)
animal.

Brett McCollum (05:45.798)
in that whole like, you know, into everything to an extreme level of kind of stuff. And it’s like, we don’t know anything. man. the, I mean, that’s the joy of parenting too is like, I know that someday we’ll look back and go, man, like that was rough, but that was a lot of fun too, you know?

Jason Seward (05:53.826)
Right, right.

Jason Seward (06:03.502)
I say to my wife sometimes, that’s what everybody says, you’re going to miss this. You’re going to look back and miss it. And there are moments where I look at her and I say, the hell I am. I am not going to miss this type of morning. You know, I’ll miss my mornings with them. Right. Right. But yeah, not I will miss a lot about these ages and them being a kid. But there are a lot of things that happen that I will definitely not look back on and say, God, I wish I could have that again. You know, so right.

Brett McCollum (06:16.078)
I don’t like this version of you.

Brett McCollum (06:31.27)
Right. No, man, that’s the, I always like to talk, you know, like before we’re investors, before we’re in business, before we’re any of that, like, you know, I mean, same with you, you’re a husband and a father and like I’m a husband, I’m a father and like, this is, this is important. This is the most important thing, you know? And so I was just, I like to talk about it a little bit, you know, but like I had to ask for me, okay, what am I getting ready to walk into? So thanks for scaring me to death. I appreciate that.

Jason Seward (06:42.946)
Yeah, that’s who I am.

Jason Seward (06:52.064)
I love it.

Jason Seward (06:58.934)
Yeah, it’s worse than you’re imagining.

Brett McCollum (07:02.797)
Dang it! No man, alright, let’s talk a little bit. you said you came out of the insurance world. I know we talked about that pre-show a little bit. You did that for how many years was it, give or take? 17 years. That’s, and you kind of got the bug on real estate. mean even way back then, like,

Jason Seward (07:12.75)
17.

Jason Seward (07:21.014)
I’ve always had the bug. yeah, mean, right out of, I’ll share a quick story. Right out of college, I was renting a single wide trailer in my hometown on like a third of an acre lot. And I was renting it. My rent was like $500 a month. And my grandmother who had been in real estate her whole career, she was a broker, an agent. And she had always, you know,

buy real estate, you’re gonna, no matter what you do, you need to dabble in real estate to some degree. That’s where you’re gonna build your wealth. So even at that point, I’m renting a trailer, I was making no money, but she encouraged me to go talk to the owner to see if he would sell it to me. And then she kind of taught me at that point. Now this is 20 years ago, she was, was longer than that, 22 years ago. She was educating me at that point how to,

try to sell the seller on seller financing it to me. Right. So she kind of gave me a quick education on that. I approached him. We worked out a deal, a seller finance deal, and I bought that trailer and ended up eventually moving the trailer out, building a house. I lived in it for about a year and a half and then sold that house and made a good profit. So that from a very early age, I was intrigued and actively trying to do things in real estate. I just didn’t really ramp it up until years later.

Brett McCollum (08:22.832)
yeah.

Brett McCollum (08:47.034)
Yeah, yeah, because I imagine that transition of going from, mean, by every metric in the book, because I, we talked about, you know, the company you worked with, you know, and stuff, great company, great organization. I’ve known it well. I come out of the insurance background myself. You know, you’re making it like you’ve done, you’re like, there’s no, that’s not a, man, I was at a dead end job and it was the worst and I hated life. And it was like, you know what I mean? Like,

Jason Seward (08:59.288)
Yep.

Brett McCollum (09:15.222)
It wasn’t that for you, it’s not from what I gathered. What was it in here that was like, what was that?

Jason Seward (09:24.266)
Yeah. No, I did. So again, I don’t mind sharing the company because I love them and I, and I burned no bridges with that company, but it’s farm bureau. Each state has a, uh, its own farm bureau, but I was with Virginia farm bureau. Absolutely. They raised me, right? I went to work for them when I was 22. And, uh, so I was still young, immature, and I just went selling insurance products and I just had.

Naturally, working in my hometown, I had a good bit of success over my first several years, made more money than I ever expected to make just because of the sales job. It truly is unlimited earning potential. So I took advantage of that, loved the company, loved all the sales and leadership training that I got in that company because ultimately I eventually became a manager and had teams under me.

so there was nothing I disliked about the company, but from an early age, I’ve always had this mindset of like, I know I have some traits in me. don’t know, probably came from my mother or something, but some traits in me that I just know how to deal with tough things. And I feel I’ve always felt like I was drawn to owning a business. Didn’t necessarily know it was real estate early on, but some type of business where

I can work through all the crap that comes with that and cause I don’t get bothered by it and I can make it grow. I’m consistent. I’m disciplined and all those things. So what was pulling at me to your question was all those years was just, man, I’m not, I’m not doing something. That’s really where my heart is. My heart is growing something on my own that I own that my name is on that kind of thing. So that, that kind of

pulled me and then later in life when I started having kids, it was like, all right, not only do I want that, but I also want the time and I guess the freedom and flexibility that can come along with it, right? So a lot of time and effort goes into it, but I can kind of structure it at my own pace and pull the lever hard when I want to and dial it back when I want to.

Brett McCollum (11:27.524)
Right. Yeah.

Brett McCollum (11:38.342)
That’s exactly right. Yeah, that’s the beauty of entrepreneurship. You know, the it’s we and we kind of talked about this a little bit. It’s not you were saying like you have two full, you two full time jobs. That doesn’t mean that. And I know a lot of people when they listen to like they hear real estate investors, they think they were sipping my ties somewhere off on an island. You know, you know, it doesn’t it’s not without its time and effort and work, right? But it’s your work. It’s your time. It’s not somebody else’s. And that’s as meaningful.

So yeah, I mean, and then also like, you know, like you can say, know what, I’m not gonna go on that appointment right now because my son has a game and guess who gets to choose that? You do. Now, that’s the trade-off though, right? It’s like, I’m gonna choose this over that and I will, and by the way, I do it every time. I’m gonna, if you make me choose between family and something else, I’m sorry, yeah, I’m choosing my family. But you can do that. You have the…

Jason Seward (12:27.33)
Yeah.

Jason Seward (12:32.526)
Right.

Brett McCollum (12:36.964)
That freedom of choice is powerful.

Jason Seward (12:40.686)
Yeah. And it’s interesting. So I haven’t always been that way. I was, and in fact, I have a, um, we’ll talk about it in a little bit, but I have my own podcast and we’ve got an episode coming out tomorrow specifically about work life balance. Right. And I shared a lot of stories where years ago, all I like, all I, all that was on my mind and all that filled my calendar up was work and career stuff. Right. And then the

Brett McCollum (12:54.63)
Yeah.

Jason Seward (13:06.924)
I’d fill in the gaps with family stuff. That’s not who I am. So I was kind of living this fake life, if you want to call it that, because I was doing and filling my calendar up with the thing that I don’t love the most, right? And that is my family and kids and wife and friends and stuff like that. So I’ve done a complete 180 where my wife and I sit down every Sunday and we map out the week calendar and we fill it up with all the family responsibilities and the

the fun stuff we want to do as a family. And then that has now leaves me with gaps to fill in with focused business work. And I’m way more productive for my business that way when I have like boundaries around it, you know?

Brett McCollum (13:47.558)
Yeah, I mean that goes to, yeah, that goes back to the idea of the four hour work week, things like that. Like you can get it all. If you give me eight hours to do something, it’s going to take me eight hours to do something. But you give me the same task in four hours, I’m going to do it in four hours. Like it’s the same idea. What we’ve done, and you mentioned there were boundaries. So I think it’s an entrepreneur thing. Like our mind is there. We’re thinking about work. Even when I’m with my family, I’m thinking about work. like the thing though for me,

Jason Seward (14:01.74)
Yep. Yep.

Brett McCollum (14:17.636)
was I always was this person calling right now. This is this is the money line right here. I need to answer that call. You know this and then I justify it. You know this livelihood that you guys have all you’ve grown to like. You know this livelihood that you know it takes work and grit and effort and sometimes it’s this last year for us was hard right. So I gotta work harder right now in this season. When you tell yourself this you justify this stuff out like I’m guilty like I’m not saying I have it right.

but we set boundaries and say, no, this is what’s important to us and we’re gonna choose to do that anyway. And that might mean for some people, there’s a period of this is tough right now. But like you gotta ask, for us, we had to ask ourselves the important question, what is more important? And it’s different for everybody. If you’re choosing one, that’s between you and your family and you and Jesus, right? Like that’s your choice. Our conviction is I’m gonna choose this first.

Because at the end of the day, as long as I’m able to pay my bills and take care of like the base, as long as they’re safe, my kids don’t care about daddy worked an extra five hours so that we could, you know, have a vacation.

Jason Seward (15:31.308)
Yep. So I’ve got a very, very profound story that was profound to me in the moment. But to your point, when I was like on the fence, I knew I was ready to leave my corporate career. I knew everything was financially set up where I could do that with some risk, but I was confident I could overcome those risks. The one thing that was kind of just lingering in the back of my head, my wife has always been very supportive.

She’s going to say all the, like, she’s just always, I’ll support you. I’ll support you. I’ll support you. I need it to really genuinely know that she didn’t have anxiety around me leaving this job. Right. Um, cause I didn’t want to do it. And then we, you know, she just starts stressing out and then we got other problems on our hand because of the stress that I created. So I, we’re laying in bed one night and I asked her, said, I need to hear it from you. know you’re going to say, I’ll support you with whatever, but really tell me. And she said, I’m gonna stop you.

Brett McCollum (16:03.204)
Yeah.

Brett McCollum (16:19.418)
Yeah.

Jason Seward (16:31.054)
Cause I’ve been like trying to get this out of her. said, me and the kids, I’m going say a curse word and y’all can bleep it out if you have to, but I’m going say it verbatim. She said, me and the kids do not give a shit how much money you make. We just want you here. And dude, when I say it was go time, like instantly the next day I was writing my resignation letter and two weeks later I turned it in. That’s how, you it was, I just needed to hear that reaffirmation from her like,

Brett McCollum (16:55.461)
Wow.

Jason Seward (17:00.782)
We don’t care. Like all these things are nice, but we don’t care about it. We just want you here, right? Yeah, 100%. Yeah.

Brett McCollum (17:05.094)
I think we as men put that on our shoulders a lot too though, right? Yeah. Yeah. I do, uh, was recently, you know, fairly, fairly recently, you know, uh, struggling with some stuff in our business. And, uh, I mean, I was really struggling, Jason. I, I’ll just be honest. And, I was talking to my wife and that’s bleeding into family life and home life, you know, the, the stress and the struggle, right. And she looked at me and it could have, it must, it was worth more than.

Jason Seward (17:28.258)
Yep. Yep.

Brett McCollum (17:34.2)
anything she and she looks at me she goes hey I know this is hard over here but if we aren’t right none of this matters

Jason Seward (17:41.752)
Yeah. Yep.

Brett McCollum (17:43.654)
Right? mean, it punched me. You know, I was like, you know, but to that end, that’s a great segue. So that was the transition mark for you. You know, when we and we let off the show talking about burning the ships, right? That that may as well have been the light, the match moment of the ship burning.

Jason Seward (17:45.698)
Yeah? Yep.

Jason Seward (17:54.37)
Yeah, that was it.

Jason Seward (18:05.854)
Yeah, it definitely poured gas on it for sure, you know, because like I like I said, I, I had mapped everything out. I’ve been working, you know, towards this for a while. But but that was the final, you know, explosion that said, Okay, I’m done. If all else if I fall on my face with this decision that we’re making, and I got to go back in five years and beg for a job back or you know, go back to McDonald’s or go to McDonald’s, whatever I got to do.

Brett McCollum (18:08.643)
Yeah.

Jason Seward (18:35.456)
At least I know that she was all in and we’re going to go for it. And that was it. That’s all it took.

Brett McCollum (18:39.93)
Yeah. And the idea of burning the ships, did you, I mean, some people do, some people don’t. Like, do you know the historical significance of burning the ship? Yeah. Yeah. So I was going to say, explain, explain that for, that. Cause like to me, that is if I’m glad you know it. Cause like that to me is the, what a moment if you’re doing that as a, as a metaphor for your business, right? So talk about that a little bit. Cause I think it’s important.

Jason Seward (18:48.888)
Yeah, yeah, Hernan Cortez,

Jason Seward (19:04.13)
Yeah. Yep. So essentially in the 1500s, Hernan Cortez was leading his army of men. And their goal was to essentially, they were going to invade an island and take it over. That was going to be their new home. That was their intent. So they pull up to the island with the ships and get all the men off. They get on land and he ordered this, as the story goes, he ordered some of his men.

to go burn the ships. And the idea was we are going to take this island or we’re going to die trying. There is no escaping because now our ships are not there. With the ships there, you don’t, you naturally cannot go all in because you know that if things get hard, I can retreat. Well, there’s no retreat. So that’s the story. And then the mentality behind that is, you know,

Brett McCollum (19:41.092)
no option.

Brett McCollum (19:52.806)
There’s a safety net of them.

Jason Seward (20:02.784)
essentially that, know, design, whatever you got to do to at least make it feel that way, that there is no looking back and no plan B. That’s the only way you’re going to get max effort out of yourself and max focus on the path forward. So, and then me leaving my corporate job was my analogy or, you know, my example of burning the ship. Now, sure, I have a resume. I can go back to work if I need to, but I cut it off.

Brett McCollum (20:18.81)
Yeah.

Jason Seward (20:32.492)
and I’m moving forward. So, correct. That’s right.

Brett McCollum (20:33.702)
Well, there’s not another paycheck coming in, right? right, yeah. I actually, similar, I had to do the same thing coming, you know, going in. It’s like, I was working for 18 months, you know, working like, almost like you said, two full-time jobs at this point, and it’s the same thing. Like, you can’t do both things successfully, because at some point, you’re gonna burn out from it. At some point, in both then suffer, I chose this, you chose that, right? And, you know, I commend it, man. It’s a,

It’s not, I mean you needed to, like you wanted, you had wanted to do this, this one. You’re setting the stage for it, you’re doing all this thing, but you needed your wife or some people need, like whatever it was, you needed that one extra thing to say, all right, let’s go. You know?

Jason Seward (21:20.14)
Yeah, I mean, and money and I know a lot of people say this, but I can truly say it because I’ve proven it. Money is not, it’s not even close to the top of the list for me as far as motivations and priorities. If it was, I wouldn’t have left. I left an extremely high paying job as jobs go. A high six figure income job. I literally burned that all up to go into this real estate that at the time was not

providing that much cash flow to match what I was walking away from. I just had a vision and I had the belief that I could grow it rapidly and we have through our lending company and our portfolio and stuff. yeah, that’s proof. The money was not the driving factor. If it was, I would have stayed in that job. I would have kept advancing in that career and been happy doing it. But I needed something else internally and for my family.

Brett McCollum (22:15.866)
Yeah, and I just thought it was really cool and we talked about like the burning the ships and what that actually really actually looks like in practical real life, you know. It’s scary though, you know, you cause you’re making a decision that I’m put, I’m all in, ships are all in and I’m betting on me. I’m holding the hand and the cards say me, you know, and I’m gonna lay that on the table and life as in the proverbial sense here, let’s see what.

Jason Seward (22:21.752)
Mm-hmm.

Jason Seward (22:29.006)
It is, yeah.

Brett McCollum (22:45.754)
what the deck of cards holds, right? And you’re betting on you the whole time. That’s a… So I grew up, I played baseball my whole life. Played through college, played post college a little while. And then I’ve always been the smallest guy in every field I ever played. I’m not a big dude. And I always said this one thing, I was like, in between the lines, when I was a pitcher, when I’m throwing the ball, I’m playing against Jason, I’m better than you. This is in my head.

Jason Seward (22:47.757)
Yeah.

Jason Seward (23:03.052)
Mm-hmm. All right.

Brett McCollum (23:15.64)
and you’re not gonna beat me. But if you do, I’ll tip my hat to you. Right? But that’s the mentality. And you have to, for the entrepreneurial spirit, it’s not out of arrogance, but it’s out of a confidence of I’m going, like I’m holding the cards and I’m betting on me. Burn these ships and if you’re not gonna beat me, life, because it’s gonna try. I’m sure you guys have had roadblocks. You’ve had stumbling blocks. You’ve had things that tried to come at you. But you’re not gonna beat me.

Jason Seward (23:19.608)
Yeah.

Jason Seward (23:37.25)
Yeah, sure.

Jason Seward (23:43.052)
No, man, I have the same mentality. I think that’s why I’ve had some level of success in real estate because around every corner is another freaking roadblock. know, around every corner is another piece of adversity. And in a twisted way, man, I look forward to it because I like like for me my entire life going back to childhood, I always need a puzzle to solve, right? If things are put together and perfect,

I get bored very quickly. I like the challenge of trying to solve complex puzzles and so much so that my business partner jokes with me, but you know, I’ll create a complex puzzle when it doesn’t need to be created just because I want to exercise that, that thing I like to do. But I think just having that natural in me, can’t tell you where it came from. I’ve just always been like that. it gives me the confidence to step in between the lines and say, I’m going to win, if I don’t good job.

I’m going to try to do better next time. if I had 20 times in a row, I don’t win. Let’s pick it up. Let’s go number 21, you know? Right, right, right. Yeah. Yeah, exactly. Right.

Brett McCollum (24:47.61)
but you’re not gonna beat me, right? that’s the, like that’s also, but also you’re not gonna do it. Yeah, it’s just a confidence that we carry, but man, that’s been really cool. I wanna ask you this too though. So you kind of talked and touched on it briefly there, but tell me today, what does 2025 look like? What are you guys working on? You know, what is, yeah.

Jason Seward (25:07.276)
Yep. we, yeah, we have in our real estate portfolio, again, I’ve got a business or two business partners, but we have, I think we’re at about 120 units, a little bit less, maybe we’ve sold a few recently, but, and those are mostly single family, multifamily. Then I’m heavily invested in various syndications around the country. We talked a little bit about that.

as a limited partner. have no operational responsibility in those deals, so I’m just an investor with a little bit of equity. And then my primary focus day to day, our real estate portfolio is largely passive. We have property managers where we step in as needed, but we’re not very involved with that anymore. And our day to day is a lending company, 608B Capital. The name, confusing to a lot of people.

A lot of people think it’s some kind of IRS code or something like that. 608B was mine and my business partner’s apartment number in college. So that’s why we named the company that. And we are a real estate debt fund. We raise capital from investors, accredited investors, and then we deploy that capital into hard money loans to fix and flippers and people buying and holding will be the bridge loan to get them to where they can refinance.

Brett McCollum (26:02.416)
Yeah.

Brett McCollum (26:07.535)
cool.

Jason Seward (26:27.486)
And we have been in business for, I’ve been lending far longer than this, but under this business and brand been in business about a year and a half. We have about 10 million in capital that we’ve raised from investors. And we, you know, our typical loan is a six month fix and flip loan. So we try to cycle that capital twice in a year. And that is our basically daily baby. We’re, got to raise it.

We’re growing it, we’re scaling it, that’s what we’re doing. yep.

Brett McCollum (26:59.34)
incredible. Yeah and that’s obviously you know a new challenge. You’re talking about challenges and puzzles right? You know because now it’s a so let me ask you this question. It’s a leading question. I think I know the answer. Have you ever flipped a house Jason? Yes you have right? You know have you ever used somebody else’s money when you flipped a house? Right? And you have a clock on that don’t you? Right? And it’s on you to make sure that that renovation goes right so that you can get that person’s money back in return.

Jason Seward (27:04.514)
Yeah. Sure.

Jason Seward (27:14.83)
Yep.

Yes.

Brett McCollum (27:28.846)
Also, Craig. Yeah. What does it feel like when you’re not the one that’s in control flipping the house, but you’ve raised money from somebody that you’re hoping to like produce a return on for them? And what is that? What does that responsibility feel like?

Jason Seward (27:42.574)
I told you, like complex puzzles. you know, that that’s, there’s, there’s essentially we have two customers. We have our investor that we’re trying to sell on this investment to bring capital to us so they can earn a return. That’s complex. Then we have to, now I’m lending out their capital, not Jason’s capital. I’m lending out their cap. Now we, the way we operate, we pull it. So no investor is tied to one particular deal. They’re spread out of.

over all of our deals, but we’ve got to have extra layers of risk mitigation that we apply because we’re dealing with other people’s capital. And that’s where it gets complex because there’s loans that we probably make with our own capital because we’re less risk averse, but we’ve got to think through the lens of what our investors are expecting us to do with their capital. So we have to be very buttoned up in that. And what that looks like

As far as from an underwriting standpoint, we just simply use this as our primary metric. Would we buy this property if it was presented to us with this purchase price, this rehab budget, this ARV? And if the answer is yes, then most likely we’re going to lend on it because worst case scenario, remember I’m protecting investors capital. So worst case scenario, they don’t perform, they default, and we have to take that property over.

Well, we would have bought it in the first place. So we’re still protecting the asset that is ultimately protecting the investor’s capital. Does that make sense? Yeah.

Brett McCollum (29:16.688)
Perfect sense, yeah, totally. Yeah, it’s just a unique, a different perspective of like, I don’t get to, but ultimately you do control it.

Jason Seward (29:25.216)
Yeah, I we control it in the sense that we have to approve budgets. We have to approve work done before we release draw money. They want their draw money, so they got to make sure they’re doing it to our standards to get that. So we design it where we do have, now we’re not on the job site every day. We’re not micromanaging every step, but we keep a pretty good finger on the pulse of what’s going on on every deal we lend on.

Brett McCollum (29:49.03)
Yeah, and it must feel pretty decent to, I don’t have to deal with moving walls and doing this and managing crews and all the pft, it comes with it, right?

Jason Seward (29:54.978)
Yeah, right, Yeah.

Yeah, but we, like I said, complex puzzles. still, we still dabble in that as well. Flipping houses and stuff like that, which, know, I tell myself every day, I’m not going to flip another house. I’m done with that. And then next day, another deal comes up like, all right, let me do one more, you know, so, but right.

Brett McCollum (30:15.448)
Yeah, that’s how it goes. Well, man, Jason, this has been really good, man. Getting to know you catching up like that sort of thing. If people do want to reach out and connect with you, follow you, mean, I, you know, I know you’ve got your show. Tell us a little bit how to follow you. Tell us a little bit about the podcast, that sort of thing.

Jason Seward (30:30.412)
Yep. So I’m on myself personally on social media, Facebook, Instagram, it’s just Jason Seward. So you can find me there. Our business is 608B Capital. 608B is in boy capital. We’re on all the social medias. And our website is that.com. So 608Bcapital.com. I don’t know if y’all put anything in the show notes or anything. Yeah. And then yeah, Burning the Ships is our podcast.

Brett McCollum (30:51.863)
We’ll have it shown at the end.

Jason Seward (30:57.134)
We interview folks, we got two episodes a week. One’s a weekly ramble with me talking on various topics and the other one is interview. And we’re about 140 or so episodes deep. So a lot of good content there to get to know us a little bit better if you’re interested.

Brett McCollum (31:09.178)
Nice.

Brett McCollum (31:12.902)
Guys, if you do it, there’s just like, if there’s a lesson out of today, besides all the good stuff we just talked about, it’s follow Jason, go to the podcast. I mean, if you’ve got something I was talking to today, I can’t imagine how valuable listening, you got 140 episodes of this. So check it out, like and subscribe, right? Like and subscribe.

Jason Seward (31:35.158)
Yeah. Hey, I do. I don’t want to plug anything, but I’ve got to because from a timing standpoint, I want to share this, but our episode coming out this Sunday, I don’t know when this will come out. So this might come out after, but go look. We’ve got Dano from Dano Seasoning coming on the podcast. He is a very popular social media influencer, but he’s got a hell of a company he’s running to with his seasoning and stuff.

Brett McCollum (31:52.5)
cool.

Jason Seward (32:01.988)
I think he’s got like 20 million followers on social media, but he sat down, did a fantastic interview with us. It jumps into like building a business from scratch and to what it is now and stuff like that. So check that one out.

Brett McCollum (32:04.774)
That’s incredible.

Brett McCollum (32:15.398)
No, that’s incredible. Yeah, mean seriously guys, it’s a no-brainer, right? Like and subscribe, follow Jason, follow the podcast, burning the ships. But man, Jason, this has been great, man. I really appreciate you being on here with us. You know, it’s been a really good day. Cool. Well guys, thanks again for tuning in to us. Like we said earlier, like, subscribe, you know how to do the whole thing. And we’ll catch you guys on the next one. Take care everybody.

Jason Seward (32:28.686)
Yeah, I appreciate you having me, bro.