The Power of Service: Building a Legacy in Real Estate

Stephen Schmidt (00:02.566)
Welcome back to the show where we interview the nation’s leading real estate entrepreneurs. It’s your host Stephen Schmidt and you’re in for a real treat today I got Alan Hon here in the house here in the studio with me and we’re gonna be talking about Some real estate per usual if you’re joining us for the second third or hundredth time Welcome back if you’re joining us for the first time welcome to the show I know it’s about to be a regular on your listening docket for your podcasts

Alan Hon (00:17.038)
Ha

Stephen Schmidt (00:25.843)
Alan’s got over 20 years in this business, over two decades. He’s done a little bit of everything from the designing, the locating, redesigning, building, flipping, holding, all of the stuff. And he is an absolute expert when it comes to the real estate space. We’re real excited to have him here at the studio today. So just remember at Investor Fuel, we help real estate investors, service providers, and real estate entrepreneurs, two to five X their businesses, which allows them to build the businesses they’ve always wanted to allow them to live the lives they’ve always dreamed of. With that being said.

Alan, welcome to the show today.

Alan Hon (00:56.942)
Well thank you man, it’s a pleasure to be here.

Stephen Schmidt (00:59.367)
Absolutely. I’m excited to talk about some real estate with you here. But before we get started, can you just share a little bit about yourself and how you got here?

Alan Hon (01:09.176)
Yeah, well, specifically how I got in front of you today is I moved from Iowa to Florida to work in that market. Well, my wife and I purchased a distressed property on a lake that we wanted to renovate for the church and just be able to congregate. that all started years before that. I had met her and we came up with a vision.

from years of experience. She’s in the mortgage alone business. I am in the flipping business, worked for a home builder who built about 150 houses a year. I mean, it just goes back 20 years. What we have seen is just an evolution of, we’re followers of Christ and God just kind of directs us in a pathway. And now we’re at a point where we want to serve others with all of the years of experience that we have had.

just really help people.

Stephen Schmidt (02:08.266)
Yeah, that’s awesome. Now you’ve worn almost every hat in the real estate world. How did you actually get started in it?

Alan Hon (02:16.238)
Oh man, again it was like 2006 bro. I bought my first house with a lease option purchase agreement, never even heard of those things. I had $1500 bucks in my pocket. By the time it was time for me to get the loan, I did some work to it. I changed out the carpet, I painted some things, I just freshened it up. And then by the time I got the loan, it was worth like $26,000 more than I needed to buy it.

I realized I’d kind of stumbled onto something and at the time I was a retail manager working like 70 hours a week and I’m like, man, I could do two or three of these a year and not have to do that retail job anymore. So, yeah, well, I thought so. But then what I wound up doing was I tried to do it all myself because I figured, you know, I’ll save the money by paying the contractors and do it myself. then

Stephen Schmidt (02:57.47)
Right. And then have all your time freedom.

Alan Hon (03:11.202)
Within a year, I could only do about a couple of houses. I realized I’d bought myself another full-time job. And I probably would have been better off financially just having stayed at the place. So I’ve learned a lot over the last 20 years, that’s for sure.

Stephen Schmidt (03:26.622)
Now, so you’ve done, like I said, a little bit of all of it, right? Designer, builder, investor, realtor. What does real estate mean to you today?

Alan Hon (03:39.587)
And I’ll tell you what it means to me is, I…

Sorry.

mean, real estate investing to me, people do it because they want to get rich. For me, it’s always been about helping that house, helping that person.

It sounds silly, but some of the houses I started with were literally rotting in the corner of some neighborhood and I think most people listening know that the key is to always buy the worst house in the best neighborhood. I’ve been thanked so many times for fixing these places up and you’re able to sell a nice house to a family that maybe can’t afford that new construction home. So for me, it’s been more of a…

Stephen Schmidt (04:14.422)
Mm-hmm.

Alan Hon (04:30.455)
a thing of the heart to be able to help the neighborhood, help the people.

help the house. And as I mentioned earlier, I touched on it earlier, my wife and I, goal next is to start building and renovating houses to sell to, we want to specifically target veterans that for affordable housing. And my mom herself is a veteran and she struggles to pay her own bills sometimes and can’t afford a nice apartment because of she’s a retired person from the army. And it just kind of like really, really, we want to take it to that

Stephen Schmidt (05:02.538)
Hmm

Alan Hon (05:05.125)
next level man and just help people help people through real estate.

Stephen Schmidt (05:09.782)
Love that. Now, you know, one of the things you mentioned in your bio that I got to read before the show was your strengths or faith, vision and determination. I love that. Can you unpack how each of those plays a role in your approach to the game?

Alan Hon (05:23.747)
Honestly when I talk when I talk about faith Right right now. We are a good example. We’re in a church plant in Knoxville and There’s about 30 families that are moving across the country to come help restart a church that was dying here and From a real estate perspective you think about the opportunity that can present there’s 30 families that want to move across the country They’re gonna need housing right so an opportunity from a faith perspective is for us to support

those people in that mission in a way that we can go ahead of them because our network of churches is called Salt Network. They have about 40 churches across the country now. Our target is college towns because we want to go reach the next generation of college students and bring them closer to Christ. and within that they identify cities within the country that they want to go in and they want to be in more than 400 cities.

Stephen Schmidt (06:14.486)
Mm.

Alan Hon (06:22.144)
by the next 20 years. That’s 10x where we’re at now. So from a faith perspective and a service perspective, somebody who’s been flipping houses for 20 years, who’s married to a mortgage loan officer, you can see the possibility that it exists of going to those cities, finding those properties, fixing them up, and just helping people that way.

Stephen Schmidt (06:43.616)
So is that kind of the plan for you right now? Like are you guys planning to be in Tennessee for the foreseeable future helping with this church? Or like what’s your timeline on that look like?

Alan Hon (06:54.028)
Well, right now, that church launches in August. what we’re identifying is we want to start a nonprofit. both my license and hers are, she’s licensed in multiple states. But right now, Florida is a great market for us. And there’s a lot of opportunity that exists down there. So first step will be to help this church along that journey.

the executives within that network that does that launch has identified us as people that they are gonna put in front of those who are looking to move. And I’m actually part of a brokerage that has nationwide reach. So no matter what city people are going into, I’ll be able to either help them with my license or help them through someone else and just kind of partner them up with people. But.

Yeah, we’re looking to work more specifically to help grow the network in that kind of capacity, but also help build a nonprofit ourselves that can help veterans find affordable housing.

Stephen Schmidt (07:58.293)
Hmm now where’s home base in Florida for you guys?

Alan Hon (08:02.23)
That’s the Gainesville market. Yeah. Yep. Yep.

Stephen Schmidt (08:04.118)
Okay, awesome. Yeah, Gainesville, Ocala, those are pretty hot markets right now.

Alan Hon (08:10.086)
absolutely. Well, and surprisingly, you wouldn’t think Gainesville, Florida is a good market for short-term rentals, but by the time you slice down the university and the hospitals and the VA and like you just got to do your homework and it historically has been in the top 10 cities within a very desirable state to have short-term rentals going. And Ocala’s blowing up like crazy, man. Ocala’s blowing up.

Stephen Schmidt (08:16.102)
Right.

Stephen Schmidt (08:21.995)
Mm-hmm.

Stephen Schmidt (08:34.326)
100%.

Stephen Schmidt (08:38.194)
Right. Well, it didn’t know Cala. They have that Amazon warehouse that’s going in there. Right. Have they finished that yet or or when is that supposed to be done?

Alan Hon (08:45.206)
Yep, That I don’t know. MoCalla, believe it or not, is the horse capital of the world. So what’s really blowing, what’s really a big factor there is all the folks coming with their horses to attend events. And an interesting thing from a short-term rental perspective, that person’s looking for a different house and they’re looking to rent in Gainesville, Florida. So you gotta do your homework and know, well, what are people looking for and how do I get ahead of that?

Stephen Schmidt (08:52.725)
Right.

Stephen Schmidt (09:13.416)
Yeah, 100%. That’s super cool. I’ve got a friend of mine in Tampa that has horses and goes to the Cali with him, him and his daughter all the time. So I lived in Florida for a stint and hopefully we’ll be back there as soon as possible. So we just keep having kids and needed to be with the parents and they’re in Kansas currently. yeah, 100%.

Alan Hon (09:24.819)
a stint and hopefully we’ll be back there as soon as possible. So we just keep having kids and needed to be with the parents and they’re in Kansas currently. Well that’s awesome. Yeah I mean it’s a great town. mean it’s there’s

There’s a lot to do there. The college is big. So Gainesville, Ocala. I mean, it’s central Florida. So you’re going to be in the swamp. I think most people associate going to Florida to go to the beach. But that’s just not the same gig there. Yeah, 100%.

Stephen Schmidt (09:54.903)
Yeah, 100%. So kind of getting back on topic though, we got off a little bit there. Can you share an example of a project where you took a property from problem to profit and maybe one that involved quite a bit of redesigning, rebuilding things along those lines, ugliest house in the best neighborhood?

Alan Hon (09:56.576)
So kind kind of getting back on topic though, we got off a little bit there. Can you can you share an example of a project where you took a property from problem to profit and maybe one that involved quite a bit of redesigning, rebuilding things along those lines, ugliest house in the best neighborhood? I’ll tell you what, the house that we bought, told you we moved from Iowa to Gainesville to help our church plant down there and we bought a house. So my wife had done the research and she sent me five,

I houses, I was in Iowa at the time, so luckily by having the experience I have, I can look at the pictures, run the numbers, do the due diligence, and in doing that, we identified a property on a small lake, and we took that property to the studs, We’d ripped the roofs, the ceilings out of it, we vaulted the ceilings, moved some walls around, because the strategy in that, as we knew, was gonna be to…

have a short-term rental attached to the house. Well, what we wound up doing was gutting it to the studs, putting a 700 square foot deck on the back. We made the whole place a retreat, so we were able to service the church. To the financial outcome of it, we rented the whole house for about 750 bucks a day to people that were coming for graduations and different events like that. So at the end of the time when we went to go sell the house, not only did we cash

it out for that number of years so it’s obviously it’s paying for itself but then then you sell that we made about a hundred and fifty thousand bucks on that project so wow yeah that’s incredible

Stephen Schmidt (11:34.346)
That’s incredible.

Alan Hon (11:35.937)
Yeah, well, well, and what’s what’s incredible about it is, mean, obviously you have to have the vision in order to know how to move the walls around and how to get the right things to do. But the project after we did that, when we bought a little two button, one bath, same kind of thing, we gutted it to the studs, we got a great deal on the property and just put it all back together. And that’s currently cash flowing as a short term rental in that same area. So now do you have you primarily done fix and flips?

Stephen Schmidt (12:00.552)
Now do you have you primarily done fix and flips or is buy and hold a pretty big piece of your strategy?

Alan Hon (12:04.982)
or is buy and hold a pretty big piece of your strategy? I’d say I’ve done probably more fix and flips, but I started my investing career as a buy and hold guy. Back then the strategy was to buy as many multi units as I could because I thought the key would be to get as many people as I can under the roofs. And what I learned through that experience was I

We wanted to buy properties that we didn’t need to do as much work to. In doing that, you’re paying more for the properties, so you’re gonna cash flow it less, and you don’t have as much of an opportunity to raise the rent. So at the end of all that, I had about 13 properties, and I was only making like 1,500 bucks a month. So then I went back to doing single family stuff, and now what we’re doing is buying distressed properties and fixing them up, and either flipping them or

turning them into short-term rentals. But we’re still primarily working with distressed properties right now. I’ve spent the last two years studying the ADU tiny house market, and Gainesville specifically allows up to three ADUs and a lot of lots.

So you can have one attached to the house and two in the yard. And if people in Gainesville, specifically that market, they’re looking for smaller homes because it’s more of an in and out kind of experience there. So you could do a tiny house in your backyard and the thing could pay for itself in two years.

Stephen Schmidt (13:39.446)
Really.

Alan Hon (13:40.202)
So now we’re combining the years that I’ve done this and the years I’ve done that and squishing it all together to see what makes the most sense. Makes the most dollars and cents, I guess.

Stephen Schmidt (13:50.963)
Yeah, 100%. So, and with 20 years in the game, I mean, you’ve probably seen every kind of challenge. What’s one of the wildest curve balls you’ve had to solve in a project or a deal?

Alan Hon (13:51.316)
Yeah, 100%. So and with 20 years in the game, I mean, you’ve probably seen every kind of challenge. What’s one of the wildest curve balls you’ve had to solve in a project or a deal? man, the ones that have bit me the most was the one I did the two bedroom, one bath in Gainesville. We bought sight unseen, no inspections because we just we know it moves fast, man. So was just like, all right, good deal on a good house. I can’t imagine much that will be which would make us go sideways on it.

We opened up the front porch and termites had eaten all of the wood underneath the floors and we wound up spending way more money on that project than we thought but I mean it’s still cash flowing it’s still gonna pay for itself it just results in a longer payout. Back in the Midwest when I was doing stuff the weather caught me up on something up there. We bought a house that we knew was gonna need a septic tank. What we did know is when we went to go pull the permit the county

required us to redo everything. It wasn’t just repairing the tank, it was sometimes when stuff like that gets to be too old, the county will have updated zoning restrictions or whatever, and now you gotta replace the entire system. doing your due diligence up front, I guess, is the biggest lesson I’ve learned, man, and if that deal, if buying it sight unseen, no inspections required, you gotta prepare some deeper pockets for what you might find.

Stephen Schmidt (15:21.034)
No kidding. Now, so like on the termite house, they literally had eaten out like basically everything underneath the floor.

Alan Hon (15:21.351)
No kidding. Now, so like on the termite house, they literally had eaten out like basically everything underneath the floor. yeah, the floor joist, the main support beam. So I had to jack up the house and put a new beam underneath it and redo all of the floor joists underneath the porch. and what’s what what gets you, what can get you in trouble with stuff like that is even if you do a termite inspection, they can only inspect the things that they can access. So if you’ve got scurrying around a house, they might not even

underneath there. you definitely need to prepare for the contingencies, those what-ifs, you know. How do you prepare, how do you stay prepared for things like that when real estate is just completely unpredictable? Well,

Stephen Schmidt (15:58.241)
How do you prepare, how do you stay prepared for things like that when real estate is just completely unpredictable?

Alan Hon (16:08.552)
One of the lessons I learned is, and I tell investors all the time, if you’ve only got enough money to do one house at a time, you shouldn’t be doing it. Because you gotta have enough resources to where if something goes bad, I got enough resources to draw in and come up with a different exit strategy to recoup that investment. So when I first started this game, I had enough money to buy one house, and luckily, the first few houses went well, and I made some money off each one of them. But when I wanted to do scale, then

Stephen Schmidt (16:15.594)
Hmm.

Stephen Schmidt (16:27.21)
Hmm.

Alan Hon (16:38.436)
I needed to have enough resources to buy more than one so I could have one that was in process, one that’s getting ready to get jumped into, and maybe one on market. So the way you stay prepared is to have enough resources to where if something does go sideways, you’re not gonna go belly up. You’re bringing up a very, very excellent point here that I wanna go a little bit deeper on.

Stephen Schmidt (16:47.446)
Mm-hmm.

Stephen Schmidt (16:57.448)
You’re bringing up a very, very excellent point here that I want to go a little bit deeper on. So how much do you think somebody should have, like from a monetary standpoint, before they start doing like a fix and flip or buying a property to hold? Obviously, wholesaling, little less risky, don’t necessarily have to use your own money. But once you’re taking on, you know, a hard money loan or

Alan Hon (17:05.258)
So how much do you think somebody should have like from a monetary standpoint before they start doing like a fix and flip or buying a property to hold? Obviously wholesaling little less risky. Don’t necessarily have to use your own money, but once you’re taking on, know, a hard money loan or, whatever else, and you’ve got an $80,000 nut potentially, and you got no money. Like, obviously you can get yourself into a pickle if you run into,

Stephen Schmidt (17:23.99)
whatever else and you’ve got a $80,000 nut potentially and you got no money, like obviously you can get yourself into a pickle if you run into unpredictable situation, let’s call it. So how much do think somebody really should have put aside that they’re willing to lose even to start doing deals?

Alan Hon (17:34.851)
unpredictable situation, let’s call it. So how much do think somebody really should have put aside that they’re willing to lose even to start doing deals? That’s a great way to say it, You got to be prepared to lose it. It’s just like if you bought Apple stock or something like you never know what’s going to happen. I mean, minimally, when I look at doing a project, I inflate it by 10 percent. So my rehab budget is going to be 100. I need to have 110 set aside.

Again, would not even, the investors that I’m working with now, one of the problems I had working with investors who, you only got 10,000 bucks in your savings account and you want to invest that in real estate.

You can’t afford to do it. You can’t afford to put your whole thing in that because There’s one thing that you’ve touched on a few times is real estate is a very unpredictable market the exit strategy might be different Specifically down in Florida. There are people who have bought houses in counties and they thought they could turn it into an Airbnb But they didn’t do the due diligence to know that they can’t even do that in that county. So I’d say to answer the question minimally 10 % on top of whatever you think your rehab budgets gonna be

Stephen Schmidt (18:38.07)
Hmm.

Alan Hon (18:44.784)
but also can factor in what your carrying costs are gonna be because a lot of people will budget out for a rehab and they’re just counting up what the drywall is gonna cost. But what is it gonna cost you for your mortgage and your insurance and your taxes and your, you know, to keep the lights on and what happens if it takes three months longer to sell it? I did a project in the Midwest and at the time I was working with an investor and you can actually get in trouble working with investors who have too much money too because they’re not financially motivated enough to sell that property.

Good example of that we bought one that was 250. We only had a budget of 15 because we were just going to put some countertops in it maybe bust out a wall and by the time we within seven days we got an offer for 327. And so we would have each made like 19 grand on this deal and all he did was put up the money. So.

but him and his wife didn’t want to sell, it was getting a lot of traction. Because what you’ll find is when a house is new, it’s going to get a lot of traction. long story short, we wound up carrying that house for almost a year, and all of our profits were gone in carrying costs. So even though the rehab money was, we were on budget for rehab, if you don’t price it right or don’t take that offer and talk about, well, what’s the minimum we’re going to take for this house and how fast do we want to sell it, work those details out too.

Stephen Schmidt (19:44.192)
Right.

Alan Hon (20:06.318)
and the carrying cost for sure.

Stephen Schmidt (20:08.922)
Wow, you know, that’s a that’s a great point. We’ve got someone in our business association who I’ll try to disguise it a little bit. But to your point, he’s got a property that’s, let’s say, worth two million bucks and he bought it for one point five at all in. He’s trying to sell for three point five.

Alan Hon (20:10.114)
Yeah, that’s a great point. We’ve got someone in our business association who I’ll try to disguise it a little bit. But to your point, he’s got a property that’s, let’s say worth 2 million bucks and he bought it for 1.5 at all in he’s trying to sell for 3.5.

Stephen Schmidt (20:36.426)
but he’s had the property for 14 months and it is a seven figure property. I’m inflating the number a little bit to kind of keep it. So if he hears this, he knows I’m not calling him out, but literally his expenses every single month are six, $7,000 and he can’t sell the house.

Alan Hon (20:36.8)
but he’s had the property for 14 months. And it is a seven figure property. I’m inflating the number a little bit to kind of keep it. So if he hears this, he knows I’m not calling him out. But literally his expenses every single month are six, $7,000. And he can’t sell the house. Well, I imagine like those of us who like to scale, mean, one of the things I wanted to do, I,

At one point I wanted to get out what I called the kiddie pool because a lot of people like to invest at a low and sell as high as they can, maybe make 20, 30 grand on each one. But that’s such a competitive place to be. what if, use Florida as an example, I can find you half a dozen properties right now that you could literally make one million dollars on, just that one house. But there’s so many contingencies in that.

what if this and what if that and you gotta find the right buyer and all those things. So if you’re going into that with big eyes and being like, all I see is the number, all I see is the number, and you’re not pumping the brakes a little bit to be like, okay, what are the average days on market in that neighborhood? What houses are selling in that neighborhood? And doing a lot of that kind of stuff, then you can lose a lot. Sure. Are you a believer in

Stephen Schmidt (21:51.062)
Are you a believer in owning your own house that you live in or renting?

Alan Hon (21:55.902)
owning your own house that you live in or renting? Well, what I was taught is you should never own anything, right? So it’s all in the LLC’s name. Multiple reasons for that. one of the interesting things about being a beginning investor was I got to a point where I had commercial loans. I could buy everything that I was doing in terms of a project.

Stephen Schmidt (22:03.563)
Right.

Alan Hon (22:21.538)
But any smart person wants to minimize your tax burden, so you’re going to have your accountant hide all that or get rid of all that. And all of sudden, now you go to buy your own primary residence and you qualify for a house that you wouldn’t even buy for your commercial business.

Stephen Schmidt (22:35.958)
Yeah.

Alan Hon (22:39.2)
Yeah, the key I’ve learned, I took that forward to Builders course, I’m not sure if you guys ever talk about that program, but in that program they talk about own nothing, control everything. that’s the key, yeah. You know, I think it was probably Chris Grone that I heard this from originally, but he was talking to someone in India, I believe. And he asked the person who was very well to do.

Stephen Schmidt (22:49.398)
100%. You know, I think it was probably Chris grown that I heard this from originally, but he was talking to someone in India, I believe. And he asked the person he who was very well to do, he said, what’s your guys’s word for wealth over here? And he said, well, we don’t have a direct word that translates to wealth, but the closest thing that we have is whatever word it was.

Alan Hon (23:06.176)
He said, what’s your guys’ word for wealth over here? And he said, well, we don’t have a direct word that translates to wealth, but the closest thing that we have is whatever word it was. And it meant circulation. So keeping money circulating at all times so that way it never sits. Absolutely. Yeah. Well, I think what you can look at with people like Grant Cardone is there’s

Stephen Schmidt (23:19.048)
and it meant circulation. So keeping money circulating at all times so that way it never sits.

Alan Hon (23:34.901)
a certain exception because I mean his money is always moving and typically he got started and got big with using other people’s money which is wonderful. But if you if you hold that multi unit big complex for one or two years to where you can get the rents all to escalate up I mean that’s how you get wealth and those kinds of situations. So when people talk about keeping your money moving I mean you got to be you got to have a plan on how long that’s going to be and how long what are we going to what’s the number.

Right now. So for somebody that’s like looking at getting started, where should they begin? What’s the biggest blind spot you see? I would say you gotta be honest with your skillset and your level of like design management that kind of, because honestly, man, everybody thinks real estate investing is sexy, flipping houses is sexy. all of that stuff. the biggest blind spot is to know that it’s not HGTV out here and

Stephen Schmidt (24:05.61)
Now, so for somebody that’s like looking at getting started, where should they begin? What’s the biggest blind spot you see?

Alan Hon (24:34.978)
You gotta know either you know what you’re doing or have people on your team that know what they’re doing and target what you’re passionate about. There are a lot of people making a lot of money that are building short-term rental businesses and they’re doing it by either purchasing or building affordable places and areas of the country people wanna be. I’m not a fan of staying in your lane necessarily because

commercial real estate, there’s a lot of numbers attached to commercial real estate. So if your goal is to just make as much money as you can make, then get the resources around you, get investors behind you, and be like, okay, I can show you that I know what I’m doing, so let’s pool our resources together, will we have enough resources to go that direction together? So the collaborations are huge. If you try to do it by yourself,

Stephen Schmidt (25:23.734)
Mmm, yeah.

Alan Hon (25:28.739)
Most investors I’ve met over the years, man, they’ve got enough to get excited because HGTV is exciting, and maybe they’ve got $100,000. And the thing they don’t recognize is $100 grand is a lot of money, absolutely. When you start buying $7,500,000 houses, that’s gone in one house. And what happens if that house doesn’t go well? Now you’ve just lost everything. So what if you use that same $100 that you bought, you spread it over three or four, and you’ve got 25 in each in four of them?

Stephen Schmidt (25:49.27)
All

Alan Hon (25:58.518)
Now, and you’re using other people’s money, obviously, you use hard private money, hard money, whatever you gotta use, but I recently watched a clip from Warren Buffett talking about people that are the most wealthy in the world leverage debt. They’re not going into using their savings account. They’re leveraging debt and they’re pooling the resources and that sort of thing. Right, yeah. So let me ask you this, because I know you’re real big.

Stephen Schmidt (26:21.588)
Right, yeah. So let me ask you this, because I know you’re real big on service and giving back to other people. I mean, you’ve mentioned it several times here on the show that this isn’t just your get rich strategy. Rather, it’s kind of your way of building something to give back to others. So like, what kind of legacy do you see leaving you behind for your family and the people you serve?

Alan Hon (26:26.228)
on service and giving back to other people. mean, you’ve mentioned it several times here on the show that this isn’t just your get rich strategy. Rather, it’s kind of your way of building something to give back to others. So like what kind of legacy do you see leaving you behind for your family and the people you serve? And honestly, I want it to be a legacy of service. When I die, I want people to know that my heart was in it to help

help people and not just help myself. Like I’m not the Ferrari guy. I would use the money from the Ferrari to buy 10 other properties and help 10 families. So a legacy of service for sure. I mean, my strategy, honestly though, mean, there’s a point where you should be able to do well by doing good. So there’s enough out there, man, you could really help a lot of people, especially with affordable housing.

And there’s so many houses just sitting out there rotting. So if you knew what you were doing and you had the resources to do it, you could help. My wife right now is looking into a program that the government’s creating to help Indian Americans, Native Americans. There are specific programs out there designed to help specific people in specific ways. So educating yourself on what those possibilities are that exist and how can I use that to help the most people.

Stephen Schmidt (27:52.874)
Mm-mm, 100%.

Alan Hon (27:53.898)
I mean, even the whole Grant Cardone thing, when you think about people, he’s obviously a billionaire, he’s doing what he’s doing very, very well. But people like that, the strategy is to buy something and then make the rents as high as you could possibly make the rents. So then when you can sell the property, the property is worth more zeros. I get that. If that’s your strategy and you want to just make a lot of money, that’s a way to make a lot of money for sure. For us, we want to serve. We want to help people.

Stephen Schmidt (28:12.33)
Right.

Stephen Schmidt (28:23.921)
Love that. Well, Alan, thanks for being here today. If anybody wants to learn more about you or what you’re working on, where should they go for

Alan Hon (28:24.418)
about that. Well, Alan, thanks for being us being here today. If anybody wants to learn more about you or what you’re working on, where should they go for that? Well, mostly our Facebook pages. have Advent Homes on Facebook and my private Facebook. mean, obviously I take people through that. Right now I’m transitioning between brokerages. The one I told you that’s got nationwide reach is I’m a real broker.

I can help people throughout the entire country. My wife is licensed in several states. So probably the best way to hit me up is on Facebook. Yeah, for sure. Awesome. Well, everyone, I hope you enjoyed today’s show and we’ll see you on the next episode.

Stephen Schmidt (29:03.287)
Well everyone, I hope you enjoyed today’s show and we’ll see you on the next episode