Zachary Daniel - Stashing Profits From Crypto Into Real Estate
LISTEN TO THE FULL EPISODE ON:
Investing in Real Estate doesn't have to be your full-time life passion. In fact, it can simply be a vehicle to open up other doors and freedoms for your future. Zachary Daniel discusses how investing in a few properties in Wisconsin with his buddy from college has given him the foundation and freedom to pursue other things in life. He has a degree in Nuclear Medicine, started a Bitcoin ATM company, became a registered investment advisor specializing in digital currency, and just published his first fiction book titled "Manifest Destiny". Find out how all of this came to be and how his real estate company has allowed him to take profits from digital currency and put it into less volatile vehicles like real estate, creating a good investment mix.
In this episode, hosted by Mike Swenson, we discussed:
- If you find a way to make money, and you're doing what you love, you don’t need a degree or PhD. His degree in Nuclear Medicine is a good back-up plan in case he wants to go back to it in the future.
- Real Estate is one of the best way to build wealth. Zach is using profits he gained from cryptocurrency to invest in real estate since it's less volatile than cryptocurrency.
- When partnering with others, extensively talk to each other and layout your expectations to have a smooth relationship, like he did working with his roommate from college
- Real Estate is a long-term game and you need to have patience.
- Treat your first property as an education because you need to learn and gain valuable experience.
- You need to build your relationship together, have expertise and knowledge.
- Starting your own business is daunting and risky, yet Zach continues to learn and find ways to be successful in spite of these risks
Timestamps
0:00 - Intro to Zachary’s Career
2:02 - Background
3:41 - Majoring in Nuclear Medicine
5:40 - Cryptocurrency Investing
10:58 - Selecting Properties in WI
23:43 - How to find Zachary
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Full transcript here:
Mike Swenson
Welcome to The REL Freedom Podcast where we inspire you to pursue your passion to gain time and financial freedom through opportunities in real estate. I'm your host, Mike Swenson. Let's get some real freedom together.
Mike Swenson
Hello, everybody, and welcome to another episode of The REL Freedom Podcast where we talk about building time and financial freedom through opportunities in real estate. And the exciting thing is, you don't have to be in real estate full time to be successful. You certainly can. There's a lot of people that, you know, it's their main passion, their main thing and they're in it full time, or they have a desire to get it into full time. And today's guest is somebody who it certainly provided a fantastic platform, and allowed them to operate the opportunity to pursue some other things as well in their life.
Mike Swenson
And so today, we've got Zachary Daniel, and he's going to share with us all the crazy stuff he's done. And still a young guy and a lot ahead of him. But just a quick background. So grew up grew up in Milwaukee, Midwest guy, and went to school for nuclear medicine. And since then he's worked in in crypto, you're an investment advisor, you actually have a fiction novel out, manifest destiny, we'll talk about that. It actually comes out today, the day that we're recording this. So if you're hearing this a couple weeks later, it's out now. And all of this is because of in some part degree because of what you've been able to do with real estate and the partnerships that you've built. And so pursuing time and financial freedom through opportunities and real estate, that's where we're at. And so we will talk about that. So if you're somebody that has other areas of interest, other things that you want to pursue, and this is one solid spot for you to put your money to be able to create wealth. Fantastic. And so that's what Zachary has done. So welcome to the show.
Zachary Daniel
Thanks, Mike, I appreciate you having me. And thank you for the intro
Mike Swenson
Talk a little bit about your, your background, how you got into nuclear medicine, how you got to, you know, moving out of the Midwest, and then we'll touch on the real estate piece and where that's gone for you.
Zachary Daniel
So yeah, like, like Mike said, grew up in the Midwest, one school for nucular medicine. And I really liked it, you know, I always wanted to be kind of in the healthcare field, my mom was a nurse that kind of influenced me that way. And I just viewed it as I liked the job. And it was very stable and interesting. So once I graduated school, I actually moved out to Oregon, to start pursuing nuclear medicine. And, you know, funny enough opportunities arise, where I had the chance to start my own investment practice. And I took it because of vesting in finance has always been my kind of passion and hobby. And the interesting thing about finances, as long as you make money, you don't need to, you don't need a degree, right, you don't need a PhD or a master's or something if you can make money. And so that's kind of how I, how I viewed it.
Zachary Daniel
And so nuclear medicine was something that I enjoyed, but was going to pursue the finance and, and with that real estate, too. And hopefully, a have a timetable got sped up, compared to where I originally planned, but that that's always great. So yeah, moved out to the West Coast. And, and, you know, it's allowed me to do a bunch of different hobbies, like writing the book that's coming out or kind of spending my time a little bit more. You know, where I where I want it. So now, it's been great. And I would highly recommend it to anyone. Yeah.
Mike Swenson
So for those folks that are curious, give it give us the brief overview. What does a degree in nuclear medicine mean? What what is nuclear medicine?
Zachary Daniel
Yeah, nuclear medicine is a imaging modality. You know, yeah, MRI, you get CT. Think of it like that, except kind of a specialty. So we're CT or MRI looks at body structure, bones, ligaments, tendons, looky loo medicine looks at body function. So how body systems are working, how your kidneys are working, how your hearts working. Probably our most popular scan is the PET scan, which is basically an injection of radioactive sugar and looking at hyperactive cells for tumor cancer. And so yeah, that's basically nuclear medicine is injecting radiopharmaceuticals to damage people's body systems. It sounds sounds kind of sci fi. And it is in some ways, it's really interesting. But yeah, it's a very specialized field of of imaging.
Zachary Daniel
Yeah. So naturally, and this is where I want to highlight for people. There's so many people that spend time in real estate and are in real estate full time. And they're like, I never, I just need to know a little bit more. I don't have the right connections to get into real Real Estate and in a lot of ways real estate's all about just taking the risk finding some good people to partner with. What's your you've done that. But I want to highlight for people like this is your your background is nuclear medicine like you, you didn't get into to real estate, you thought about real estate, a lot of people have always kind of said to like, I've wanted to get into real estate, but I just want to highlight for people like, this is not anywhere close to anything related to real estate.
Zachary Daniel
And yet, you're still able to pull that off. So talk a little bit about kind of the the cryptocurrency piece, and how that has now rolled into the real estate investments. So let's get into that for a little bit. So yeah, how did that next step work for you?Yeah, I've always been into Bitcoin and crypto. Obviously, you know, I'm sure your audience has at least heard of it. And it's probably like, Well, how do you have any money to invest in real estate right now, all prices are but I've been in in a long time.
Zachary Daniel
And basically, like you said, I don't have a real estate background. But I've always thought it's one of the best ways to build wealth and preserve it long term. So I've always been interested in it. And when the opportunity presented itself as I had in excess amount of capital, I wanted to allocate some to real estate, Bitcoin and crypto being hyper volatile, and hyper hyper cyclical. I wanted something to be the next best, I basically think of crypto and real estate as my two ways to build long term wealth, crypto being volatile and, and highly appreciating at times and in real estate being more stable, reliable, and, and so yeah, I want most of my crypto gains into real estate.
Zachary Daniel
But the issue that I had was I was in Oregon, and the real estate out here just wasn't conducive to renting. The rental income was just I'm gonna cover the mortgage, because real estate prices are so high out here, and I didn't want to go the route of betting on appreciation of the real estate as my kind of cashflow.
Zachary Daniel
Just, you know, it just wasn't the way I want to do it. So I partnered up with one of my best buds back in Wisconsin, actually. And he had, he was also thinking about the real estate, but he had recently graduated, and he was kind of starting to build as well. So he's like, Dude, I have time. And I've, you know, experienced, like, he basically redid his own own house, you know, redid the basement, redid the upstairs bathroom. So he's like, I got time and willing to put in the work and I have capital. So we kind of team that up. And then the real estate market in Wisconsin is, you know, much more favorable to rents and, and cash flow. So we teamed up there, and it's been, it's been an amazing partnership. And it's definitely allowed me to, you know, brought some financial freedom to me and springboard for you know, building that real estate practice. Oh, something that hopefully he can do full time.
Mike Swenson
Yeah, I was gonna say I think, you know, the, the crypto piece and the real estate balance each other well, because like you said, crypto is volatile. And there were high gains, a lot of that, you know, has come down. And so you are smart enough to say, okay, how can I complement each other here and put it into something because for some people, they may not like real estate because it's not risky enough. Now you can get into, there's certain elements within real estate that are much more risky development and that sort of thing. But for some people, they might say, hey, I want to invest in businesses and companies because I do have a high risk tolerance. So here you took something that was risky, and then you combine it with something that's more stable, and that helps to balance each other out.
Zachary Daniel
Yeah, it definitely did. And I'm very glad I did that. Because, you know, looking back, I'm looking at what that when I sold compared to what if I would have just held on to it and I am very staunch, long term believer, you know, like Bitcoin, but I still recognize that it's not the only way to build wealth. And then certainly, you know, looking back at this real estate, the foray into real estate has really done well for me as far as preserving preserving my wealth that I have and building on it. So
Mike Swenson
yeah, and for a lot of investors like you said, the the problem that we hear from people on the coasts is it's it's tricky to invest in, you know, multifamily properties or single family properties because you don't get that cash flow. And as we talked about, you know, beforehand, that's why a lot of people like to invest in the Midwest you know, myself being a real estate agent investing in Minnesota and helping investors on the West Coast primarily, invest in Minnesota like that's, that's what people enjoy. I get that balance of cash flow and appreciation once again, safe, stable, balanced with, you know, kind of volatile works out well.
Mike Swenson
So talk about Yeah, that kind of that first property, how did you guys because you're you're working with a buddy, which some people will say fantastic you know them you trust them, some people will say it puts at risk, you know, the friendship and so talk about working with a partner. And what we talked about too ahead of time is, you know, think about it like a triangle. So you've got, you know, money on one side, you've got expertise on one side and time on the other side. And so, you know, if you're looking to get into real estate investment, you want to assess yourself that all three of those sides, what do I have in terms of time? What do I have in terms of money? And what do I have in terms of expertise, and you had money, you didn't have the time and you're not boots on the ground? You've got somebody who has time is boots on the ground? And so there's, there's some piece there. So talk about, yeah, how that how that partnership kind of worked? And how you were able to select those properties?
Zachary Daniel
Yeah. Yeah, no, we originally started, obviously, we good buddies and play video games together. And we're just both talking about real estate, you know, really could be, we both wanted to be in it. But we both had limitations. I had the geography, limitation and the time limitation, he had a capital limitation. So we kind of put, put it together. And, you know, he the expertise that he had, you know, obviously, we're both new to real estate. And I had expertise in starting businesses, and LLC, and dealing with the banks and the finance. And so that was where I landed some expertise. And then his expertise was he grew up in the area that we bought the real estate in his whole life. And he's always been a diligence. And I would say, compulsive at times, you know, he, he really put in the time as far as researching.
Zachary Daniel
And he's always been, I would say, a stickler on, on quality. So even when we lived together, so we roomed together, at college, even when we live together at the houses, he would always point out things at the house that the landlord should be fixing. He's like, why isn't this place in this payment? What Why is why do we have to deal with a broken washing machine? Why is, you know, this, and that, and for the rest of us college kids, it was like, a college. Fun for him, he was already pointing out these things that I think has served us well in the expertise department. So yeah, we are still learning the expertise, I think that the angles growing in the partnership, as far as you know,
Zachary Daniel
You know, we're both generally not argumentative people, where we can talk about anything, and I can get caught up on, we're not going to get caught up on little things, or a little little money stand between. Because I think that, you know, it's possible that you just are so worried about everything being perfectly 5050, and getting your share. And I think that can sometimes stand in the way of you both winning long term. And so we're both very conscious of that. And we're both in it together. So, yep. It's been a wonderful partnership. And we, yeah, played off that capital and, and expertise and, you know, time angle pretty well.
Zachary Daniel
people say don't get in the business with people that, you know, can ruin friendships can ruin family, I think you got to, it's a risk. But you got to know yourself, and you got to know the other person and, and trust each other, but also, you know, at the very beginning, lay out what the your expectations are for each person. So we, you know, we we talked to each other extensively about what we expect. And we laid out in a couple, you know, psi contract forms about, you know, different things that we want part of our enterprise and, and I think it's, it's been very smooth.
Mike Swenson
Yep. And, you know, we talked about in real estate, you want to work with people, you know, like and trust. That is the benefit of what you had. So, if you didn't have your buddy to execute on your real estate, dreams and goals, you then have to go find somebody else. And so what you do have is you have somebody that you know, like and trust, and you've been around since the beginning. And so you have that foundation piece. And so that is the benefit versus working with somebody you haven't known for that long.
Mike Swenson
All you know about them is what you've learned about them since you started your relationship and you don't have those those years playing video games together hanging out together to cement the trust in the relationship and so, so yeah, I agree. There's, there's value there, of how you can build and grow that and yeah, if not him, you'd have to go find somebody else. So might as well start with somebody that you know you've lived with. You've talked about that stuff together. Yeah, he has an attention for detail, which probably is very helpful for the tenants because they have somebody who's responsive to needs. And so there's a lot of benefits there.
Zachary Daniel
So yeah, yeah, for sure. And, and yeah, you can see someone that you've been with for long known for a long time, you can see them in a bunch of different scenarios. So stressful scenarios, scenarios with money. So you can kind of anticipate what how they might react, versus, you know, you're going on find some finding someone else. Yeah, they can present a certain image, but you don't know how they react in certain scenarios. So and that first house, you know, so we started getting property 2020. And the real everything, the environment was perfect for it. Right then, because the real estate, interest rate levels were low, super low, and the real estate hadn't quite started taking off.
Zachary Daniel
And especially in the Midwest, a lot of these places, towns are now outside of huge cities, like maybe Milwaukee or St. Paul, a lot of these places hadn't seen housing appreciation for a decade. So all of a sudden prices started creeping up. And long, long term tenants or long term landlords are just selling property, they're like, oh, my gosh, my property appreciated like $7,000 $15,000, I'm selling, I'm selling everything. And so there was, I would say, there was like a period of like fire sale, where there was super low interest rates and housing prices were just starting to creep up, but there was a flood of inventory. That's kind of where we started to strike. And, but we, you know, we were pretty picky, we probably looked at, we've probably seen, like, 100 properties so far.
Zachary Daniel
And, you know, now, we're in kind of a limbo area, which we talked about before, just because interest rates are a little high right now. And housing prices have come down to kind of match that balance. And it's still a pretty tight inventory. So we're kind of ready to ready to pounce, but, but we're biding our time. And that's, you know, real estate's a long term game. So you got to have patience. Because once you're in a property, it's tough to get, it's tough to get out. And you put so much time and money and effort into it, that, you know, you don't want to make the wrong choice. So it's better to be better to be overly cautious, and then try to jump before, you know, at the wrong opportunity. But I guess in the same breath, you know, kind of be too cautious, where you just sit on the sidelines. Oh, wait, wait, wait, I would say, you know, you just kind of got to go for that first property. And just do it. But
Mike Swenson
yeah, I think I think, you know, I've talked about this before treating that first property as an education too, because you have to learn, you can't get to the 10th property, unless you get to the first. And so there's going to be some things maybe you wish you could have done different, there's going to be some things that you're like, oh, wow, that worked out really well. And so you learn those things through doing it. And so it's, you know, kind of like a child, a child doesn't start off just running, right, they have to learn to walk first. And they're cautious, they're timid, once they get their feet under them, it can happen fast, and they start running. But it's that same way.
Mike Swenson
So you wouldn't be sitting where you're at today, looking at your fourth property without having those other three. So you're going to have the expertise, you're gonna have the knowledge that you've gained together, you're going to have the stabilized asset of you know, building it up, building it up, fixing it up your working relationship together. So there's a lot of positives that have come out of your, your first few properties together, that you're now going to be able to build and grow. And, you know, maybe it'd be able to grow more quickly because of what you've done together already.
Zachary Daniel
Yeah, yeah. I think that's completely true. It just keeps and just keeps building and keep learning. And, yeah, we've picked up already picked up so many things here and there that we've done right or done wrong. And yeah, we're really hoping to grow it into a, you know, a practice where, you know, my partner has redone his whole house and is good at fixing things up. And I think we would like to build the portfolio to where we have this stable income, but we're also have something on the side where we're fixing up houses more extensively, and maybe, you know, flipping them on a short to medium term basis, along with kind of a stable multifamily housing. Yeah, no, it's exciting, but it's just building blocks and yep. And yeah, yeah, I would definitely say You know, you probably talked about it a lot, that you don't need to be a real estate expert or go to school for real estate or think you're gonna do it full time to kind of get in before a anyone can do it. You just have to have some time and commitment. Be willing to take some risks. So, but it's worth it. So,
Mike Swenson
yeah, there's a lot of great things that you've done, you know, being able to take the risk. Most people haven't done that. Being able to find a partner, where you guys have assess, like, what skills and abilities Can each of you bring to the partnership, and to be able to have a little bit of time working together? So yeah, you're you're off to a fantastic start. And you know, that, that being said, let's let's chat about this kind of moving forward here, that's now allowed you opportunity and to be able to pursue some other things. So, so share for a little bit here, you know, you're you're an investment advisor and an author now. So talk about how that foundation in real estate, what you've been able to start to build and grow together is going to provide you some freedom of time, some freedom with with your finances as well to pursue some other avenues. And so what is that done for you?
Zachary Daniel
Yeah, I think it's, it's done, it's done great for me. You know, we're putting most of what we earned in real estate back in business, but it has given me a cushion, asset and cash flow wise if I needed it. Because starting your own businesses, it's daunting, and it's risky. And you're not getting much income coming in. So. So I think real estate's allowed me to better pursue myself as an investment advisor, because I'm not going to be it takes, you know, years to grow a business, a practice like that. And then, you know, it's also given me becoming the investment visor, starting my own business has given me more time to pursue finishing my book, which has been a long process.
Zachary Daniel
But I hadn't really, I hadn't really been able to fully dedicate to finishing it until I started on this extra path where I got more time. And maybe I wasn't so tired, when I came home from work from work in the shift, because I was kind of using, it was kind of a space space, my resources out there anything. So it's definitely give me that freedom, it's time to finish the book. And it's been a huge passion of mine. And I'm very proud of it. It's a mystery thriller. And, you know, if you're listening, go check it out. But But yeah, it's, it's definitely an awesome experience. And I can't think of, of wanting to change it. So
Mike Swenson
well, I'm excited for you. I love hearing stories, how, you know, the goal of this podcast is to be able to showcase different people in different areas of real estate and what they've done. And for many, yeah, it can be a full time thing. And yet, at the same time, I want people to see that it doesn't have to be a full time thing. And when you leverage with great people, you've got the ability to build, make and earn an income and you want to pump some of that money back into real estate. Fantastic. And so the goal of this podcast is to show people of all different areas within real estate, and you get a chance to write a book and do something that you love.
Mike Swenson
For those that can't see you on the video here. Like you're excited when you're talking about your book, like that's something that's fun. And you're able to do that because of in part what real estate has helped to do for you and, and being able to pursue being an investment advisor. And you still got that Nuclear Medicine Degree in your back pocket? Should something change down the road to so you've been able to do some really cool fun things as a result of what you've been able to do in real estate as well.
Zachary Daniel
Yeah, for sure. And you know, yeah, like you said, after nucular medicine, my back pocket, but And if things do fall back to that, then that's fine. And I'll probably end up pursuing real estate even harder than, you know,
Mike Swenson
how can folks get a hold of you? So you've got your book, I want to mention again, Manifest Destiny coming out or is out now for those listening. But where else can people learn more about you and reach out to you?
Zachary Daniel
Yeah. So the book Yeah, out on manifest destiny on Amazon, Barnes and Noble major outlets. You can find it on my website, zachary-daniel.com. Or if you want to reach out to me, get you can do it there. Also, my business is digital edge wealth management. So you can search that Google or digital edge wm.com. So that's otherwise, you know, typical socials, Twitter, Facebook, LinkedIn. But yeah, that's where you find me and you want to reach out and talk about real estate or ask, you know, how a wide manage dealing with a partner in Midwest besting book retail.
Mike Swenson
Awesome. Well, thank you so much, Zachary, for coming on. appreciate you sharing your story and best of luck to you in the future.
Zachary Daniel
Thanks, Mike. I really appreciate it.
