September 13, 2022

The Importance of Community, R.E.I, Property Management & Construction, Together - Matt Teifke

In the conversation with today’s guest, Matt Teifke, you’ll learn why Austin, Texas is attracting so many investment dollars, the importance of understanding funds, and practical advice for finding the right people for your team.
Billy Keels
CEO and Founder FGCP

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Going Long Podcast Episode 246: The Importance of Community, R.E.I, Property Management & Construction - Together

In the conversation with today’s guest, Matt Teifke, you’ll learn the following:

  • [00:38 - 04:06] Show introduction with comments from Billy.
  • [04:06 - 08:56] Guest introduction and first questions.
  • [08:56 - 21:17] The backstory and decisions made that led Matt to this point in his journey.
  • [21:17 - 25:32] Why Matt was drawn to learn more about Real Estate specifically rather than anything else.
  • [25:32 - 30:00] How Matt goes about selecting the right people to be in his team and in his business, to ensure investment success.
  • [30:00 - 34:40] What is attracting investment dollars towards Austin, Texas today as opposed to anywhere else.
  • [34:40 - 38:15] Matt talks about the ‘Fund’ aspect of investing, and why it could be important for you to understand it.

Here’s what Matt shared with us during today’s conversation:

  • Where in the world Matt is based currently: Austin, Texas.
  • The most positive thing to happen in the past 24 hours: Getting a giant Turtle as a pet for the family!
  • Favourite European location: Germany.
  • A mistake that Matt would like you to learn from so that you don’t have to pay full price: Sometimes sales do not ‘cure all’, but you should wait until you have the right systems and processes in place.
  • Book Recommendation: McDonald’s: Behind The Arches, by John F. Love.

Be sure to reach out and connect with Matt Teifke by using the info below:  

To see the Video Version of today’s conversation just CLICK HERE.

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Episode Transcript

Billy Keels  00:00

Today's conversation is sponsored by first generation Capital Partners. If you're an accredited investor, and you want to know about how we're helping other accredited investors keep more of their income, go to first gen, forward slash going long.


For me, I don't know of any other industry, where you can capture so much value in so many different ways. By sticking to a few core principles that can grow your net worth, change your life, create generational wealth. And I don't know anything that's nearly


as powerful. You're listening to the going long podcast with Billy keels, the number one podcast for long distance real asset investing.

Billy Keels  00:40

Welcome to the gun on podcast, we're back once again to continue to help to educate you so that you feel much more comfortable as well as confident investing beyond your backyard. Yes, I am your host, Billy keels. And I am really, really, really looking forward to welcome you back to today's conversation, because today's conversation is gonna be a pretty awesome one. It was, yeah, it's definitely going to be awesome, it's going to be a massive value add to you. And I cannot wait for you to hear it. But you know what, I just want to say thank you very much. And I know I do this week after week. But it's because our podcast continues to move up the charts. And it happens so frequently. And I know we're changing things. And I know you felt the changes that are happening things. And I just want to say if you've not had a chance to do it yet, leave your honest written review as well as rating helps us to attract amazing guests that are going to help give you the insight and the actionable content that you need. So make sure you leave that very simple, easy to leave. Honest, written review, as well as writing on the Apple podcast platform would be greatly appreciated. And then also, you know that we have a new home for every single one of your podcast episodes, you have the video, you have the audio, you have the transcript, you've got it all just go to first gen forward slash podcasts, you'll find every single one of them first gen forward slash podcasts. And that is your home for every single episode from episode one, all the way to 200. And however many this is at this point in time. So today's conversation, it's awesome when you can connect with people that are in what they call opportunity city. This is a city in the state of Texas, and this is one that you're going to find out more about. It's great when you come from humble beginnings, you're able to understand the importance of watching your parents work really, really hard, watching mom work hard working in houses, cleaning houses, to actually owning houses, and what that impact can be on you. Today as a business owner, as a busy professional, and also want to find out about new location that can be amazing for you and for your investing future. Well, I'm gonna recommend that you listen to today's conversation with Matt TYSKIE. And we're gonna get to that just after this. Are you a busy high paid professional, someone that in the previous two years has earned $200,000 and is expected to earn $200,000 this year. Or maybe if you file jointly, previously, you've earned $300,000 The previous two years and you're also expected to do that this year. Or maybe if not, either individually or jointly, you have a million dollars in net worth not including your primary residence. If you meet any of these criteria, then you're someone that the IRS considers to be an accredited investor, that probably means you're someone like an enterprise software sales executive, you may be an executive in a major corporation, you may be a doctor, you may be a lawyer, maybe a high paid consultant, you may even work for a major sports franchise, the thing I know you have in common is that you continue to do the hard work like you're doing 100% of the work. And you're only bringing home 50% of the reward because you continue to get crushed by your income taxes. If you're tired of this situation and you're looking for a new solution, then go to first gen forward slash going along. When you get there, that's going to help you to start the journey so that you can begin to take back control of your taxes take control of your time. And then also that means you're going to be able to spend more of the time that you want with the people that you love the most. And that is the way that you're going to get the personal freedom that you're looking for. So if you're looking to take back control, go ahead and go to first forward slash going long and see how we can help you today. You know what if you want to understand the importance of community, real estate investing, property management and construction together to achieve your long distance investing success thing, guess what? Today's the conversation that you are going to want to listen to until the very last word I promise you know why? Because we've got an amazing guest today. And you know, check this out. I mean, this is just really really awesome. Today's guests not only study history in undergrad, but he has a master's in real estate. That's awesome. He also had various roles from frontline to broker to construction and development. He's got an amazing expertise in a very specific location in an amazing state and I'm not gonna ruin that I'm gonna let him tell you about that. And this is where he She got his real estate licence at the early age of 18 years old. I can't even wait for him to tell us this is gonna be awesome. You know what today he's also partner broker at tre Longhorn construction and development powered by Tre. It gives me great pleasure to welcome to today's conversation, Mr. Matt TYSKIE. Matt, welcome to the show, man.


Hey, man, love the intro. Thank you so much. And I'm excited to be here.

Billy Keels  05:25

Man, I'm, I'm more excited for the entire Gong family to get to know you know more about you and all the awesome things that you were doing. I mean, just the right mindset. I love the pre conversation. Matt, I want to jump into this conversation. Man. Are you ready? Let's get it. Ready, man, let me be ready. You know about the five questions you know, you're gonna get to in the beginning, you know, you're gonna get three in the end. You know, you're gonna get a bunch in the middle. I just don't know what those questions are. But question number one man help us understand, Matt. Where in the world are you located today?


I'm here in opportunity city, baby. Austin, Texas. We love it here, man. And I grew up here. I was actually born in Cleveland, Ohio. I know you said Ohio. But I moved here when I was three years old. And so it's a great place. It's jobs and people. And I could go on and on about the market. But I really do 100% In my heart believe this is opportunity city. And there's a lot going on here and people are coming every day. And there's there's a lot of value to be captured in a special place.

Billy Keels  06:28

Yeah, absolutely fantastic. And so I'm not going to put you on the hot seat or anything like that. But when you have to Ohioans, because I'm from Columbus, Ohio, right in initially is always some fun, interesting, exciting things are going to happen, especially for you going long family, so just hold on, hold on, it's gonna be a great one. Question number two. Help us understand, Matt, what is the most positive thing that's happened to you in the last 24 hours?


I'm gonna go on a, on a family aspect on this one, I got two little boys. I know you got some boys as well. four and two. And we're getting a 65 pound turtle, we're going to put in our backyard. And, you know, pretty much I'm like 24/7 business on a lot of things. We'll dive into that later. But I think the kids are gonna love it, man. And it's it's something new for us giant turtle living in the backyard. And it's pretty exciting for our family.

Billy Keels  07:22

And so when you're watching the video version, you can see my face kind of going in. I've got like this main Matt major question to ask. By the way, if you're listening, you should probably go check out the video version. Actually, Matt's got this really cool background as well that I know you're going to love. So check out the video version. Matt. I love that you shared that story with about your two and four year old in the 65 pound turtle that you just got them in are just going to put in the backyard. But why it turtleman


random is someone one of my neighbours said hey, I got someone you know in the neighbourhood is looking to get rid of one. It's gotten too big for their yard. You want to take it? So yeah, we'll take it.

Billy Keels  08:02

Fantastic, man. I love that. I love that. Okay, cool. I didn't know if there was something special about the turtle and okay, awesome, man. You get your pets, dogs, cats, raccoons, and you get the turtle. So 60 pounds. That is awesome. And Matt, here's the thing also, too. I know we're just meeting one another going on family, they already know this about me. You're finding out I like to keep the bar like set really, really high. I am a recovering perfectionist in is one of the sometimes like I have these things like these character flaws. Because I set the bar so high. Sometimes I do things that are kind of irrational, and so irrational, like trying to tell your entire backstory, I tried to do that, and like three and a half seconds. That was never gonna happen, right? You've done way too many things you've positively impacted way too many lives. But it's just that thing. I always try to do it, but it's impossible. So what I'm going to ask you to do is help me out a little bit, Matt, because I need you to share your backstory in your own words. And you don't have to take three and a half seconds, you can take as much time as you want. So that the go along family gets a chance to know more about you and your backstory. And then also I am going to ask for one other little thing if you could also help us understand some of the major decisions that you've made to get to this point in your journey. And then we'll see where you and I take the conversation until we get to the going on final three.


I love them. And I appreciate the opportunity to dive in. And I'm really excited. I've been as committed to this as I could possibly imagine. I don't think there's a lot of people that can say that about work. And that's not a bad thing. I guess everyone has different goals in their life and different dreams and everything like that. But at a very early age. Being around my mom, single mom, she raised my brother myself. I was able to see the power of real estate and how that can change somebody's life and what that means to own properties. She was working a construction job she actually moved here from Ohio, literally started cleaning houses. And then over time she was buying one to two properties per year. And over a 1015 year time period, she ended up having, you know, 1517 properties that she still has today. And so this didn't put us in a position where we were making all this money. But she was building these assets and building this net worth, and myself work in different jobs growing up, I worked at a asphalt and paving company, worked at a fast food restaurant. And I sold the value of not having to look at a clock, and how a real estate could take me out of that position. And what I realised is that real estate could be for anybody takes a lot of work, there's a lot of principles that you have to learn and follow. And you got to be creative in a lot of ways. But I saw my mom go from, you know, cleaning the house to owning the house. And I was very blessed to be around that I saw the hustle and the drive that it required, and the commitment that she had put into it. And so I was very blessed to see that and went to college, Corpus Christi, Texas, got my licence, the second that I couldn't get it. And I went and found a local brokerage mom and pop shop, first place I went to, they said, hey, we'll take you and I was kind of blown away. I thought, you know, I gotta go interview all these people. And I didn't realise like most brokerages want to accept agents, right? Especially if they, they think that they're going to represent the company well. So I got my license and corpus, I was wearing a suit and tie first one and last one out, going to school could care less about class. And I found a mentor that I sat down with every day for an hour. And he just drilled he was military type mentality and just kind of drilled drilled me with, you know, this is how you do and this is why you do it and take notes and you know, challenging me. And it made me step up, and I enjoyed it. And so my whole goal was always I want to learn as much as I possibly can about real estate. I want to see how other people buy and sell, I want to help other people buy and sell. And I want to build my own portfolio of properties. So started there. When I graduated from school, I had won the Rookie of the Year as a full time student, you know, and doing real estate, and just grinding man like, you know, 24/7 right, came back to Round Rock where I grew up, I started working at a commercial real estate brokerage for about six months. And during that time period, I was I was waiting to see if I got accepted into a&m, they get that master's degree in real estate. And I didn't know if I was gonna get in, I had really good experience. My grades weren't as great because I was more focused on business and school. I really enjoyed history. But I was I was kind of nervous. I didn't know what was gonna happen. I ended up getting accepted a&m. I went there for two years. It was 100% commercial based. And it was it was around a lot really sharp, smart people. We'd have CEOs of huge companies like ACC, you know, JLL come in and speak to us, we could go have lunch with them. And we learned real estate. And for me it was fascinating because I learned it real world. And then I went back to school to learn it again, where a lot of those guys that I was going to school with were just straight through schooling, so I was able to have a really good perspective. While I was going to school, I worked at an apartment complex to leasing and then six months later I got my appraisers licensed I said, if I want to own and be a real estate, I got to learn how to be how to value real estate. Do that for a while. And then when I graduated, what happened was I took over my mom's properties not really honestly because I wanted to I actually felt obligated to because they weren't really been run the right way in my opinion. So my wife started managing those at the time was about 18 and 18 doors and then I was I went to go work for retail brokerage called Edge and we did tenant representation where I would represent like national high end clients, I'd kind of do all the grunt work for my bosses we, we tour we wine and dine them and you know I work for Buffalo Wild Wings, Dick's Sporting Goods gold gym, Gold's Gym, companies like that. And my wife was running our management company. And we built it up to about 270 single family homes that we were managing. And I was at the commercial job I loved that I was learning I love to I was around, but I wasn't able to be as entrepreneurial as I want it to be. And some of these brokerages are a big part of the story as far as when I was there, I'd kind of figure out, you know, what could be better or what did I not like? And I always knew I wanted to have my own brokerage. I always knew I wanted to own properties. But I didn't get clear on my vision until maybe about a year ago, which I'll get into that in a second.


But I had to leave the commercial job to team up with my wife she couldn't handle the company on her own. And so I was like I'll leave commercial brokerage I want to do that. Anyways, let's figure out this company. It was Very stressful, you know, she was basically running it leading it, you know, getting broken down crying two, three times a week, you know, property management to a negative business in a sense, where most of the time it's a thankless job, right? Like, you get the rent day one on time to the owner, they say that's what's expected. Anything else, you know, tenants are mad vendors are mad owners are mad. And most of the time, it's not rent day one, all is good, right? So I teamed up with her, we ended up selling that company a couple years after that. And then I had a brokerage and I was like, We got seven agents, we give people a good split. But unless I really structure this and create some systems in place, basically just gonna lose these agents. And I'll be an independent agent myself, and I'll be buying properties. On the way I was myself trying to buy one, two houses, my wife and I were we're living in a house, find another one, we move out, you know, just constantly bouncing around and leasing the old property. We ended up moving eight times in two and a half years, and just acquired and kept those properties. So what happened was literally right before COVID, I partnered up with a guy that I grew up with his name's Alex, we're 5050 partners right now on the brokerage. He's got an amazing story. By the time he was 20, he was full blown heroin addict and in jail, and I didn't want anything to do with him, right. But he started coming around later on in life, he got sober, he was trying to figure things out. And I'd give him these little tasks like, hey, go knock on these 10 doors, right? Like, go go away, and he'd go knock on 100 and come back. And we ended up buying six or seven properties together, we hit this point where I was like, man, Alex, I think you'd be a really good partner. And let's go, let's go build something. And at the time, we had seven agents, this is right at the beginning of COVID. And we just started hustling. And, and over time, what we built was we got a brokerage now with 150 agents, we own 30%, of a construction company called Longhorn, we do property management now again, and we have a real estate fund. And the whole vision and goal and idea here is be the brokerage where people can come to get more out of real estate for themself. And you can you could be an investor, you could be an agent, there are so many opportunities that real estate can provide. And on the outside, it seems like these guys are all over the place. It's chaos. But there is a lot of structure and systems and we run our whole business off of a traction EOS model. And we love it right. And we have department heads, we push the limit every day. The way the best way I can explain it is come here to get more for yourself. Right? We are I'll give you our core values and our core focus, core values. We believe that within real estate, there's opportunities for everybody. We believe that you people work with us, not for us. And we believe in a no fear attitude. And then the core focus is bank money in and on real estate in as far as commissions on an ownership side. And the more you get into it, and the more you're active as an agent, you know, that's money you can use to invest but you see opportunities and you under you uncover ways to go about things. And I'm a big believer, if you're passionate and you want to invest in real estate, you should probably consider getting your licence like I never wanted to rely on an agent to go write 10 Low offers, I'd rather do that myself. Right. So you take the power in your own hands. And it's really special. We're promoting people to build their own brands build their own teams look at us as an in house partner. We buy a tonne of real estate we probably have close to 100 doors total, mostly single family, but we have multifamily have industrial mobile home parks, and agents will bring us deals. And we'll say hey, we're partner you want us to buy 25%? We will you want to spend 50%. We will we'll help you get the loan. We'll help you manage it well with the construction. And it's a it's a Trammell Crow type mentality. If you know who that is, or some of your listeners do, he's a developer from Dallas, of finding people, the right people that you can go grow with as far as brokerage goes, we're in a 9010 split with a 15k cap. So you come here and you pass a max of 15,000 But how can we provide 100x that value? And it's really special man as much as I can explain it like it's a Kobe Bryant type mentality where we're, you know, we're, we're working, we're practising before the practice and after the practice, and just grinding and not not a lot of talk as much as we want to get the message out, but we just do it and we live it we take a lot of risks. We're through and through real estate people and we believe that there's an opportunity to change your life you know, with us and us do it together and have fun doing it.

Billy Keels  19:53

So you know, when you when you're able to have fun when you're together and you're in you're moving towards a car goal is very fulfilling when done properly, right. And so it's interesting. You just mentioned that Kobe Bryant actually just sent out my newsletter today. It was the conversation of Jason Williams. I don't know if you ever heard that conversation where he's talking about, he went into the, he went into the gym. And it was that Mamba mentality, right and work mentality where he was, you know, he went in there, and he saw me, he's already been working out for an hour. And he goes, and he works out for whatever now are two, and then he left and Kobe still working out. And he's like, Well, what the world is all about. It's like, well, I saw you watching me. So of course, I was gonna keep working out, I just wanted to let you know that I was gonna continue to work harder than you are. And I'm willing to do more than anybody else. So having that type of mentality is something that definitely resonates with me. I'm sure it resonates with the with the Golang. Family. You know, you talked about a number of things, Matt, and you know, talking about single mom and going from, you know, cleaning house to owning house and in houses, which I think is fantastic. And, you know, you had the military mentor that sat down with you one hour a day. But there was something that you said that really caught my attention. You said a number of things, right. But you said that you decided that you wanted to learn about real estate, you talking about some of the things that happened as a result of, but when you have such an opportunity to select anything, this is always one of the things that has really intrigued me. And I think it's really helpful for the going long family to realize that everyone has different reasons for getting involved in real estate, you name some of them. But as you were telling the story, you said that you you wanted to learn about real estate. And I guess my mindset is always, well, why real estate? And why not? Biology? Or why not? Macro Economics? What was it that really led your heart in your energy to say, I want to learn more about real estate? Sure,


yeah, it was, it was as simple as when you realise that you put a down payment on a property. And then basically, if you do it, right, someone takes over the payments for the rest of the time. It was literally that simple. Like, well, I put up some money, someone pays it off, I own it. And then for me personally, like, I couldn't really grasp certain things in school, right like biology. Man, I try, I really did try. Can't understand it, right? Real Estate, for whatever reason was very simple. To me, it clicked. And I saw that anybody could do it, you know, you get to talk to people, and you see their stories and who's doing what people are doing some really cool things and people that came from nothing. All the time, right? They prove that it's possible. And at least for me, I don't know of any other industry, where you can capture so much value in so many different ways. By sticking to a few core principles that can grow your net worth, change your life, create generational wealth, and I don't know anything that's nearly as powerful, you know, you just start a whole new tech company and raise all this money, you can sell it for hundreds of millions. And that's not what you get out of real estate, right? It's like, hey, grind, you know, you know, it's not what people think in a lot of sense. But it will happen. It's, it's very simple. It's not easy. But it's very simple. Once you really learn, and it's life changing. And seeing, you know, obviously a big part of that is my mom was already doing it. So I had a leg up in a sense, but I was just very captivated by this is something that I could do and you can leverage you get tax benefits, you can build something completely on your own. And there's not a huge barrier of entry to get into it.

Billy Keels  23:43

Yeah, there definitely is not a huge barrier to entry. And it's still surprising the, the few people that actually are exposed to it, I know that I was not exposed to it, it took me until I was in well into my 30s. Before I really understood the whole concept of very simple thing that you just mentioned is you have an initial down payment. And then every if, when done properly, especially with rental real estate, every single payment after that is really someone else's paying it. So you place I don't know, if you're fortunate enough, you get a 3.3 and a half percent down, maybe you're have some type of a VA loan, if you're someone from the military, or if not, you know, if it's an investment property, it's still 25% down, but you control 100% of an asset. And if you do it properly, to your point that you make the first payment and then all the other payments are actually provided that you're a creating the service that wants a resident or a tenant to stay, then they're going to continue to pay the property off for you. And so just that, as you said, simple concept. To be able to execute is not necessarily easy. I agree with you. But when you have that simple concept. You don't need a master plan. I mean listen, everybody Matt's telling you it's not don't overcomplicate things, when you are presented with an opportunity. He also had the Good fortune of having his mother at home. And so he got to see some of that stuff. But he also saw when his mother was working in a job cleaning houses. And so he also recognized that it's not something that happens overnight. It's something that takes work. But the model is simple. So Matt, I appreciate you sharing that with us. And that is fantastic. Trusting that you enjoyed today's conversation. And you know, if you're tired of getting crushed by taxes, and you're looking for greater freedom, to be able to choose what you want to do, when you want to do it, make sure that you go to first forward slash going long, and see how we can help you today. Let's get back to the conversation. I wanted to come back to you because you mentioned something also to your vision and being able to attract the right people. Right? There's this you know, and I worked in the corporate world for 26 years, and there is a there's the thing that you can hire for talent or hire for potential. And so you talked about, you know, that being a key component and making sure you have the right people on the bus, can you maybe talk to us about how you go about selecting or doing things to increase the probability of you having the right people on the bus that can ultimately help your potential investors or buyers? Yeah,


we have a huge focus. As far as I know, I don't see any brokerages going about social media the way that we are. I mean, we basically have like a full business in house. And so the concept that we're constantly putting out information, constantly showing who we are, it's, it's full, just like value, like just lay it on the table. It's not like, hey, come over here and click here to get it. It's like, here it is, right. And so by doing that, over a long period of time, we build the reputation. People understand a little bit about who we are. And so it just sticks in people's mind subconsciously. And we're, we're people that we plan on being here 2030 years from now, and not just a fly by night, right? Like some people come out. And you just see them all over social media, and they're gone six months later, like we're here every day, still doing it. And we just have a massive amount of meetings, we constantly talk to people, we constantly seek to add value and to stay in touch whether you're with our brokerage or work with us or not like, I'm on social media, someone says I need an electrician. Here you go, I need a contractor here like, like people just see my name, like hundreds of times are all like daily, right? And just inviting people over, we have agents who say, Hey, you don't have to be part of our brokerage come on inside and Come be around it, right. It's just we're giving it all out, we're value add, we're around, we're consistent. I spent three and a half years no lie having three to five coffees a day. And my phonebook is just massive, right? Like everybody I talked to, I store their number, every time. And if I type in the word investor and start scrolling through my phonebook, there, there might be 1000. Seriously, and probably 40% of them don't remember me, right, but they're in there. And I'll check every once in a while I'll go through my whole phonebook, hey, hope you're doing well, here's our latest YouTube video, or anything I can do to add value. So just massive outbound. And then just being real, doing what we say we're going to do, and it attracts people. And so you know, we're just, we're at this point now, because we have multiple aspects of our business is like, we just always need, we always need to be talking to people, and we always need help. And it's it feels good. Like it feels like we're providing opportunities with people. And so the more good people that are serious, you know, you can you can easily join his agent. But we have salaried positions, we need partners. But back to this Trammell Crow idea, like, we want to, we want to recreate what we have here in every city, but we want to do it with partners, like we want people to be able to plug into our system and literally rebuild this. So we just all like people who are the biggest part of what we need. And I think about it from businesses I've seen and, you know, you hear big names, obviously, like Bezos, or Elon, but you never hear the other people. And I can only imagine there's, you know, 50 100 200 people that are that have been there that our royal that have all grown with him. They don't get the name recognition, but they're probably the biggest part of why it actually happened. Right? And so I just, I believe in that. And I want to be around people that we can be working together 20 years from now and not just cycle through people.

Billy Keels  29:27

No, and I think that that comes through. And that's a big, a big part of, of the success that you're having. So you know, one of the things I do want to understand a little bit more, right, because sometimes you're in a location and you don't know don't necessarily know what you don't know. And so you mentioned that you are in an epicentre of where lots of activities are happening. So when you put that investor hat on, and you think to yourself, well, you know what, what is it really that's driving a lot in Austin right now because people may not necessarily lino, can you help to inform as you talked about before? So help to educate us a bit on what you know, what are some of the reasons that are attracting investment dollars today to to a city like Austin?


Yeah. Well, I'll get I'll do a two part answer. And it's kind of a unique, it's kind of interesting. I don't even fully know how to explain it. There's a vibe and energy around Austin, that that just radiates from people. I've been to Seattle or California and you're out there and you're like, man, they got the ocean they got the mountains. This is this is amazing, like the Austin's got nothing on this. But when I get back in it could honestly be because I'm from here. And I have a lot of connections. But I also have talked to people about this. There's something here that makes it really opportunity city. And I don't know how to explain it other than like, people are coming here from all over and they get it and it's a different mentalities. It's not you know, you get to Dallas or Houston, those are different markets. People here, they, they're very open, they want to grow with people, they want to do things. They're open minded, they're trying things out. And so there's a vibe that that comes with the people and the environment that's really special. That's hard to explain, I guess. But as far as the investment dollars coming here, it's pretty easy to understand. They say 170 people move to Austin every day. It's actually a really relatively small market. You know, if you look in major cities, Austin is not one of them. A massive amount of jobs are coming here. Samsung just announced maybe six, seven months ago that they're doing a $17 billion facility in hada. Right outside of Round Rock, right? Hello, Taylor area. Tesla is here doing their HQ Oracle's doing HQ here, Facebook, Amazon, all these tech companies are a huge component. We got to we got a great education system, University of Texas, you know, really powerhouse school somehow, you know, the football records horrible, but they they get the top recruit in the country. As far as quarterback goes, like they still have that appeal. Somehow. We got the government here, there's a diversity of of jobs. It's small market, there's people jobs coming here and people love it. And so that's, that's why I call it opportunity city, man, it doesn't seem like it's going to slow down as far as people come in here. Obviously, with rates going up, it makes things a little tricky. But historically, Austin's always done well in even in a downturn. And so, in my opinion, like, you know, every market could crash in a sense, but Austin will be the last one to crash, right? Because there's just so many things happening here, like the Tesla deal, they hadn't even fully started hiring people, you know, and so like, it's all still coming, and people believe in it. And there's just opportunity everywhere.

Billy Keels  32:54

So I mean, you have a number of different things. And some of the things that you highlighted that just want to make sure that they go along family really picked up on is, number one, there's a lot of people moving, I think you said something to the area of 170 people per day. And I'm going to assume that there are a lot less people leaving per day, which is a positive net migration. You talked about different types of industries that are there everything from high tech to to automobile to government. You've also talked about and maybe you didn't talk about this, but maybe you can confirm in terms of the the flexibility of of business or the ease of doing business in a place like the state of Texas, and maybe Austin, maybe you could talk to that a little bit.


Yeah, I mean, it's, I'm just used to it, right. I'm not used to anything else other than like, it's a business friendly place, right? Like, the government is here to support the infrastructure as far as we need better roads and all that, but they don't get in your business. You know, we have different tax laws here. We have cities here that are actively recruiting businesses, right. Like the mayor and the governor. Like they're, they're welcoming people to Austin. And, you know, big company here is comes in, they call them they congratulate him, they say, What can we do to help you like they're wanting that to happen, from the government to just business practices in general? It's in a business friendly place to be right. And, in my opinion, Austin is the coolest place in Texas, Texas, in general, is a great business state. But Austin is the place to be

Billy Keels  34:26

opportunity see things would you said? So, one of the other things, Matt, but before we get into the online funnel, because I think this is important, too, because you talked about the values. You talked about the systems, the teams that you have, but specifically there one of the other things that you'd mentioned that in terms of looking for opportunities, and this is something that is key for what you're doing at tra is, is really looking for the right opportunities for the right individual and so also because we have a lot of people who tend to be tend to be not always our passive investors. You also talked about this concept then you have a fund. So maybe you could talk about that, because I think that's one of the only areas maybe we haven't touched on so far. But maybe you could talk a little bit more about that fund aspect before we before we get into the gold loan. Final three.


Yeah, man, it's exciting. We started in January, we've been buying properties for a long time. But what we were always having to do is figure out how to get capital, like start new partnerships, or, you know, joint ventures, one off deals, and we really wanted some that we could streamline. Also, it's not easy to find deals here, like we're as active as you can get, we spend days or we'll make 60 offers a day, literally just cranking out low offers following up, we'd have people that are like, I want to invest, I want to do deals, and I didn't really have a great solution for him, because even myself was, you know, I had enough that I could just by myself in a sense. So the fund was a solution to give an outlet to people that wanted to invest that we didn't necessarily have to go represent them and be competing with ourselves, we could just do it together. And it was also an opportunity to build and scale something. So we could do much larger, larger things in the future. As our agents are, we're training them on how to find opportunities. They're bringing us deals, we have wholesalers bringing us deals, we're getting deals just literally coming to us. And the fun is a source to take those deals down. I've got for an example. We're already running into the same problem, though, like we got maybe 70,000 That's in the fund sitting there that we can use. But that will be gone in one or two deals. And we know how to get deals, right? Like I've got a four Plex in Lando, Texas. But I've been negotiating on for over six months. And they finally came to my price because I was sticking to it. And they said, alright, we'll do it. But I'm kind of sitting on it like, man, we need to we need another 150 200,000 in the fund to take this down. So I'm just sitting on that deal. And I'm not able to drum up more, because honestly, I think we need a full time capital raiser, like we don't have a problem running the deals, you know, buying great deals, but nobody's constantly bringing in capital. But the funds just a really simple 8% preferred return. After that we split the profits 60 to the investors 40. To us, we manage it, we oversee it. And the goal is to do long term buying holds and Austin will flip when we have to we'll end money with the phone to some of our agents or people that we know. But the goal is let's get aligned. Let's build this. Let's do it. Right. Ideally, we see you know, 25 plus type returns at the end of it all, it's a five year fund. And then we can go do it again and raise 20 30 million and just keep growing with people.

Billy Keels  37:41

Fantastic. So that gives us some insight and also to you I mean, you've helped us to paint the picture of some of the reasons that more and more investors are attracted to Austin, you've talked to us about the culture that you have, that are instilling the results that you have been able to provide. And this is another one of the opportunities that you talked about in terms of the font. And so I'm sure after the going long final three, everybody's gonna get a chance to figure out how we can find out more about Matt and in the way that you can also find out more about how you can get involved with what they're doing it at tre so. But Matt, here's the thing, man, we got to get into the going long, final three. And the thing is, is I never asked any of our special guests and today you're our special guest. I never go into the going on final three until you tell me that you are ready. So are you ready?


I'm ready, buddy. Let's get it.

Billy Keels  38:28

No, no, you're born ready. Here we go. So we started with you over in Austin. I like to bring it back to this side of the pond because this is my adopted side of the pond. Of course, I'm from Columbus, Ohio. But hey, listen, I've been over here for 21 years I started it was supposed to be a one year sabbatical, but I guess I kind of got lost along the way. But anyway, all that stated. I would love for you to share with us what is your favourite European city map that you have either visited or is still on your bucket list to visit?


Never been there. But I would love to go to Germany.

Billy Keels  38:59

Yes. You know what I used to I was I was in Germany. I used to work for a German company. And so there's a wonderful city down in the south Frankfurt. There's another wonderful city up north Berlin. And so yeah, Germany is a really nice city. Would you prefer north or south kind of locations North is


difference. I'd be calling you to get your advice. All right. Where can I go find the good beer?

Billy Keels  39:24

All right, there we go. I got a couple of places. I haven't got a couple of good places here in Spain as well. But we'll go we'll go in German. So that's a question number one question number two, man and this is just one of the things that that I have noticed. It's actually one of the things that you know, I consider myself very blessed very fortunate because I get a chance to interact with lots of very successful people and have throughout most of my life and and I consider you to be someone who's very successful as well Matt because you know, you're going out you're positively impacting lives on a daily basis. And and I'm hoping that you will agree with me Matt. One of the things things that, you know, really successful people do differently than others is typically very successful people. They go out, they have a plan, they execute the plan. And then they unlike most people, they get things right every time the very first time, which allows them to actually go much fat. Do that again. Sorry about that, man. Nah, man, it's alright. It's alright. It's just a joke. It's a joke. Everybody man was like, that's like, Oh my God. Are you serious? Did you just say that? It's just a joke. I like to have fun, man. I like to have fun, everybody. Yeah, now they know, they know as a joke. Of course, people that are really successful, don't get everything right every single time. Of course, they don't actually, you know what, Matt, I would venture to say that people that are really successful, they tend to get things wrong, like 20 to 50 times more than most people. And so because that was just a joke, the next part is not a joke. This is very serious. So hopefully you do agree, people that are very successful, because they make 20 to 50 times more mistakes than most people, they do one thing very differently. And that is every single time that there is a relevant mistake, or learning opportunity, or call it whatever you want to call it, Matt. But it's the whole point of you wanted to do something and it didn't work out that way. Every single time that that happens, they stop. And they learn from that specific mistake. And more importantly, they put different strategies, tactics and actions in place to minimise the probability of that exact same thing happening again. So I don't want you to think about the mistake that you made or the learning opportunity or whatever you want to call it. You have that in your mind. But what is the one lesson that came away from that, that you know that me in the going long family we really need to hear today? What's that one lesson you want to share with us?


Yeah, I'll give you a couple. If you don't mind, a couple quotes that really stuck out to me. And what you said is, someone told me this, and I really resonate with it. But he said he or she who experiments the most wins. And I love it, like just constantly trying things out. Another one is sales cures all. And the lesson came from that. So we had a construction company called Longhorn, which we still have. And we were getting into an existing business that was already doing doing jobs, been doing it for 1013 years. And tre partnered up with them. And so we just kind of came in day one gung ho on, hey, we're in the construction business, like who needs leads. And it was great. We had, you know, 3040 leads quickly, but it was too way too much for the company to handle. And what I've what I do believe is like, sometimes you get one shot at things. And I think it would have been much better because we weren't able to handle it all in an efficient way. And if we would have waited to announce it when we were prepared, I do honestly believe that we could have been double triple the size, because we would have taken all those they would have compounded into referrals. And it's a great business, and they do a great job. But we missed that starting block, in my opinion. And I think going back, if we would have done it a little differently, it would have worked out a lot better. So it was too much too fast. And sometimes sales does not cure all, because the operations gotta be there to handle it and to do it in a good

Billy Keels  43:27

manner. Yeah, you know, and being able to do that in a good manner, fulfil, on orders, fulfil on those things. I mean, you just hit on something. That's key, Matt, because sometimes sales can actually make the problem worse. And so I love that you that you that you talked about that. And it is one of the things that you know, we're going to also include in the show notes and and yeah, although it's difficult for me as a sales professional, that's true that not sales does not absolutely cure all it almost everything. But this is just the reality hit taken also to make things a bit more complicated. So this is going to the very last of the go along final three. And this is really about helping us fill our minds with knowledge, Matt. So I was hoping that you could share one book with me in the go along family if you had to recommend just one book. What would that one book be? Right here, man? Oh, don't say Don't say don't say it don't say. So that means everybody. If you're not watching the video version, you need to go check out the video version because he just shared it with you. And if you're not seeing the video version, you're not gonna see it. No, I'm kidding. I'm kidding. You can tell him you can tell them I'm just messing with them. What is the name of the book that you just showed up there, Matt?


Man, I've been really enjoying this book. It was given to me from a guy who's very, very successful in real estate. And it's McDonald's behind the arches by John F love and a lot of people have seen the movie, the founder. This is a little different. It's it definitely has a lot of that in there. But it's more on like how they built the business and what they did to differentiate themselves and there's a lot of lessons to be You aren't here. And some people probably know this. But McDonald's is a real estate company. That's really how they made it. They might have failed without it. But I love this book, man. There's a lot of really cool things to learn from this.

Billy Keels  45:15

You know what I can I tell you something that in over 230 are, you know, I think at this point, no one has ever recommended that book. This is the very first time anyone has ever recommended behind the arches Jeff love. And we will make sure that we include that in the show notes. It's going to be Yeah, everybody. And I love that you share that founder was a great movie, when you when you get a chance to dive in even deeper, absolutely fantastic. So Matt, man, these conversations just fly by like every single time, it's like, I'm just like, enthralled. I'm like, I want Matt to keep going on and talking in from the very beginning. Like I'm thinking to myself, you're talking to us about the 65 pound turtle that you are having with you or two and your four year old, which I just think is awesome as something that's super positive. And then you start telling us about your life, right? The the thing that happened when you watch your mom, not just clean houses, but to have that evolution from cleaning houses to actually owning a house, and then multiple houses, and then really being able to see from close by maybe not understanding all of it from the very beginning. But you realise like, hey, there's some power in this thing that mom is now doing. And you got a very simple concept that when you knew that you wanted to learn more about real estate, it was as simple as saying, Wow, I come up with the initial down payment. And then when done properly, the people that are living in the property are actually paying for it. But you get to maintain control of it. And so you understood that you had your undergraduate degree you decided and you were fortunate, and you, you worked really hard to get your Masters in real estate, which is absolutely fantastic. And then from there, you also recognise that there was a an area in the market where you could do things even better than it was doing before. And so you were able to not just now create a culture with the mission and a vision and values that attract not just agents, but also people who want to be able to invest in a town and not in a town. But I guess in a city that's continuing to grow at 270 people per day, doing things differently. You've got funds that are available, you have the experience of construction development, and I know that everybody that's here as part of the going long families thinking yeah, Billy, just get to it. Just ask them the question. So here's the thing that help us understand how can the going along family find out more about what it is that you're doing? And also the things that you're doing it tre


very simple, man, we're everywhere online. TYSKIE We're on Tik Tok on Instagram. We're on YouTube, we got multiple YouTube channels. The entrepreneur effect is one of them. can't spell entrepreneur without are in there. I love I love. Easy to get a hold of man, Matt takecare cell phone number 512-914-4806 We really try hard to respond to everyone. And we'll help people out any way we possibly can. We love connecting. We're not like sitting here thinking how can we make money and say, Hey, what do we need to do? Let's stay in touch. Let's grow together.

Billy Keels  48:20

All right, fantastic. Matt Teike. And I'm gonna spell that for everybody just in case. And I know Don't worry, don't worry, everybody. It's gonna be in the show notes. So you can find it. But it's TIF Ke. So just making sure that everybody can find you there. And he's makes himself really easy to find on social media and its company. And listen, man, I just want to say, I really appreciate you deciding to invest your time with me and the entire going long family today. So thank you very, very much. Really appreciate it.


Yeah, man, thank you as well. I enjoyed it. I do a lot of podcasts. Like, honestly, I think you might be the best house I've ever been on. Just I'm just good at it. No good structure, and you take good notes and listen, so I appreciate your time as well.

Billy Keels  49:01

All right, I really, really appreciate that. And going long family, I think appreciates it as well. And Matt, if you would give me literally just a couple seconds, I want to wrap things up and then I'll give you get back on the road. And you can get back to that awesome, awesome business that you're building. So just really quickly, listen, going on family. I mean, Matt just basically gave you not just strategy, he gave you tactics, he gave you specifics and also helping you understand not just the culture that they're building, but that they are delivering on already the different opportunities, the different options and he's made it very easy for you to find him on social media. So continue to take today's conversation, continue to download the episode, share it with others, get together talk about the things that Matt just talked to you and shared with you. And you know what, take him up on his offer even left his phone number reach out to him he makes it really really simple. So while you're doing this taking action, you're taking action on these things. I'm going to be here preparing the next conversation. So until then, go out and make it a great day and thank you very much trusted you Enjoy today's conversation and once again today's conversation was sponsored by first generation Capital Partners. If you're an accredited investor want to find out more about how we're helping accredited investors to gain their personal freedom even faster. Go to forward slash going long.

Billy Keels
Founder & CEO of FGCP
Billy is on a mission to share a roadmap and opportunities with other extremely busy, high-paid professionals on how to find financial freedom through investments. Listen in to learn how!
Guest speaker
Matt Teifke
Founder at Teifke Real Estate, TRE Homes, Longhorn Construction & Development, and TRE Property Solutions
As the principal broker of Teifke Real Estate, Matt Teifke employs over 140 agents and staff. Matt also holds a Masters in Real Estate, Valuation, Analysis, Investment from Texas A&M University. Teifke Real Estate was founded by Matt Teifke and Alex Coffman. Together, they seek to create the most enTREpreneurial real estate brokerage in the universe where there are no limits to what agents can do.

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