49 Dr. William Caldon, Dentist and Fund Lender

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49 Dr. William Caldon, Dentist and Fund Lender

Bill Fairman (00:01):

Hi everyone. It’s Bill and Wendy with Carolina Capital Management. We are trying to be, oh I’m sorry. Socially distant. Of course we’ve always been, what do you call it?

Wendy Sweet (00:16):

Distant?

Bill Fairman (00:19):

Yes. I was gonna say mentally distant. Relationship distant. We’re here with our good friend and I usually don’t say doctor, but he’s a doctor. Bill Caldon. Bill is up in upstate New York. Correct?

William Caldon (00:41):

Way upstate New York, about 20 miles from the Canadian border.

Wendy Sweet (00:45):

Wow!

William Caldon (00:46):

We’re getting snow tomorrow. No kidding.

Bill Fairman (00:48):

Really, really? I was going to ask you if they had any flowers blooming, yet.

William Caldon (00:54):

Margaret’s got some. Yeah. A few.

Bill Fairman (00:57):

Nice!

William Caldon (00:58):

Yes.

Bill Fairman (00:59):

So you’re inundated with pollen. Maybe the snow will knock it down a little bit.

William Caldon (01:06):

And maybe green, green snow, which is better than yellow snow ice. So…

Wendy Sweet (01:13):

Okay. So we’ve got to do this, you know, we’re telling stories before we went live and I went, what my brother bill to tell the story about your Ted Talk, Bill, at one of our events.

Bill Fairman (01:24):

Okay. Real quick. I don’t want to embarrass him too much.

Wendy Sweet (01:26):

Oh, he doesn’t care. Do you?

Bill Fairman (01:30):

Our mastermind group that we’re part of, Freedom Founders. People are, at the time we were, asked to do Ted Talks. And Bill did his Ted talk on coconut oil and how good it is for you for a variety of things, but mainly cooking with. You’re trying to find alternatives to olive oil because it ends up not, you can’t cook it at a high enough temperature or it burns on you.

Wendy Sweet (01:59):

See, he was listening, Bill.

William Caldon (02:05):

He was! I’m impressed!

Bill Fairman (02:05):

So anyway, at the end of this Ted talk, he pulls his shirt off and he’s got this coconut bra.

Wendy Sweet (02:15):

And he looks real pretty.

Bill Fairman (02:15):

Using the coconut oil to help with the chafing.

William Caldon (02:19):

That’s right! It all worked out good.

Bill Fairman (02:22):

But I have to say it was absolutely hilarious. People in the audience were falling out.

Wendy Sweet (02:27):

And memorable.

William Caldon (02:28):

Unfortunately I wasn’t falling out.

Bill Fairman (02:28):

So, Bill is a dentist in upstate New York.

Wendy Sweet (02:37):

When he’s not doing stand up.

Bill Fairman (02:41):

And you have a really interesting background being able to travel the world in the air force. Is that how you got into dentistry in the first place? Or were you in dental school and then you went into the air force?

William Caldon (02:55):

Yeah, I was in dental school and I was getting towards the end of my dental school career. And I wasn’t real confident in my speed and being able to make a living doing dentistry. And there was an air force recruiter hanging out in our break room and plant us with beer and burgers and things. And he says, you know, Hey, for two years you can come into the air force, you know, and, and we’re going to pay you and you can learn to hone your skills a little bit. And it all sounded good to me. So, we joined the air force and spent the first couple of years up in Michigan. And then when it was getting time to take, to get out there for us, offered me an opportunity to go to Italy. So I was able to sell my wife on that proposition. So we went, and spent three years over in Italy. And as I was getting towards the end of that and it was time to get out, I said, Margaret, I have an opportunity to apply for a two year residency in general dentistry. Would that be okay with you? Cause it’ll extend our term in the air force a little bit. She said, well, sure, you’ll never get in. We’ve been together for a long time. So she know if I will.

William Caldon (04:13):

Oh I don’t know. Somehow the hand of God intervened. And I got into the residency and that came, that was a two year program that started a year after I got the San Antonio’s. That was three. And with that commitment, we were at the 10 year point and said, what the heck Margaret, you know, we’re doing okay here why don’t we just make it a career? So two years turned into 20. And it really was, it was a wonderful experience. You know, we got an opportunity to travel the world. And my most dangerous assignment was in New Jersey.

William Caldon (04:48):

It was really, really good. And we have four kids. And evidently they like the lifestyle and, you know, kind of grew up with the patriotic. And so I don’t know if you can see the picture behind me. We had all four of the kids are still in the, in the military. All four of them are now in the air national guard.

Wendy Sweet (05:14):

Wow!

William Caldon (05:15):

Three of them are in one unit and another one’s a unit out in Wyoming. But the, my wife, my oldest boy is a pilot and he went to the air force Academy. He’s about to retire, which old enough to retire is not, that doesn’t make me feel very good.

Wendy Sweet (05:36):

That’s awesome! You should be so proud. I’m sure you are. That’s awesome!

William Caldon (05:40):

Yeah, it’s good. It’s really good. We are very proud of our family.

Bill Fairman (05:43):

Well thank you for your service. And your family’s service as well.

William Caldon (05:49):

Thank you!

Bill Fairman (05:49):

My father-in-law who passed away a few years ago was in the air force for 20 years as well. He was an air traffic controller. And you figured when he retired he’d go into air traffic control civilian wise. And he said, hell no! I’m not doing that! As nerve wracking enough. I’ve had enough of that, so I’m going to go into the mortgage business.

William Caldon (06:16):

Oh, that’s really so secure, isn’t it? Oh my gosh!

Bill Fairman (06:21):

That’s how I got into the mortgage business. Was through him.

Wendy Sweet (06:26):

Which is how I got in, through you.

Bill Fairman (06:28):

Yeah. It’s funny. He told me, you know, you should get in. I was, by the way, I was a dental technician at the time.

William Caldon (06:35):

That’s amazing. This all comes full circle.

Bill Fairman (06:39):

He said to me, you know, you should get into the mortgage business. I said, well, why? And he said, well, you do really well at it. And I said, well, why do you think that? And he says, you have a personality. That’s all it takes, huh? Yeah. You’ll pick up the math.

William Caldon (07:01):

Well obviously it worked out for you all. So…

Wendy Sweet (07:06):

And you can hire accountants, so that works. Really well.

Bill Fairman (07:10):

That’s why God made calculator.

Wendy Sweet (07:15):

That’s right!

William Caldon (07:15):

Oh my God! I’ve been spending it. It seems like the last three or four weeks I’ve just been on the phone and webinars with accountant after accountant. Not to mention bankers and lawyers and everybody else, you know. It’s been crazy.

Bill Fairman (07:27):

Yeah. I have to say I haven’t been on so many zoom and go to webinars in all my life. It is. I mean, there’s a lot of knowledge you need to soak up out there for sure. And you can’t talk to anybody in person anymore. And you have to scream at them across the street. So…

William Caldon (07:46):

it’s been very, very strange to, you know, all the people talk and about what they’re going to do with their downtime. And I’m not seeing patients, but I to tell you, I’ve got no downtime at all. I mean it’s, I’ve been incredibly busy just trying to navigate these unchartered waters. You know, it’s, wild.

Bill Fairman (08:03):

Well, it’s funny, I live in suburbia. And I rarely see people other than, in their car and pulling into their driveway. And I see so many people out walking, you know, down the street getting exercise. We have these trails behind the house and the trails are full. I used to never see people out there. And I’m looking at my wife going, where the hell did all these people coming from? Used to be so private. So we’ve decided that we’re going to have a cul de sac, a social distancing party. So all the people that live on our cul de sac, we’re going to put painter’s tape out, little pie things, six feet apart. I’m going to bring out a Bluetooth speaker, we’re going to get a lounge chairs and we’re just going to sit out there and bring, bring your own booze and sit out in the cul de sac. Stay six feet apart.

William Caldon (08:59):

What a great idea. That sounds like a lot of fun.

Bill Fairman (09:02):

Yeah. Well, we’ll see how it goes. So, you ended up settling in upstate New York. What made you decide to move there?

William Caldon (09:13):

So, Margaret and I are both from Kentucky. We been together since we were 15, so a really long time. A lot of people accuse us of being brother and sister. That’s so, you know, and where we are in New York, we’re right at the edge of the Adirondack mountains. And so it’s kind of okay to, marry your sister up here. So we do fit in quite well. This is our last assignment in the air force. More or less. The base closed up here and I had another year to go and the family said, we’re going to miss you. We’re not, we hope you’ll go someplace nice. We’re not coming, we’re going to stay here. So this is where we ended up settling. So it was the air force that brought us here and kind of bizarre. We’ve been here now for, since ’92. So we’ve been here, you know, 28 years or whatever. Longer than we’ve been anywhere in our entire lives. So it’s truly has become home and we live right on Lake Champlain. The Moonrise two nights ago was just breathtaking. So big full moon. It’s wonderful. It’s…

Wendy Sweet (10:21):

That’s awesome!

Bill Fairman (10:22):

So, tell me about the new business or the new normal. I’m sure you’re like everyone else. You had to shut down temporarily. How do you think the dental business in most areas of the country are going to go? Are you seeing that, perhaps your smaller, independent offices are going to get even smaller? And then your larger network, or corporate own, are they going to get larger? Do you see them kind of pulling back? I know that a large amount of dentistry is, let’s call it elective surgery for a better way of saying it. So I’m just looking out and seeing, I see people are going to save more money now and not spend extra until they forget about this. Because you know…

Wendy Sweet (11:27):

Let him. Let him answer.

William Caldon (11:29):

No! He’s doing really well so far. I think he’s got it.

Bill Fairman (11:37):

I’m going to talk for another 30 minutes. In my mind, I’m seeing…

Wendy Sweet (11:42):

And he’s going…

Bill Fairman (11:42):

People… I’ll let him talk in a minute. Bite me!

Wendy Sweet (11:48):

But I got to stay 6ft apart.

Bill Fairman (11:51):

So in my mind I just see people were going to be saving more because they’re worried about not having enough reserves. And they’re not going to go for the more luxury items. What’s your opinion on it?

William Caldon (12:03):

I agree with you bill. Ditto.

Wendy Sweet (12:14):

You say that, but then you go. And we have a brother that’s in the landscape hardscape business. He is swamped from people wanting to build decks and porches and outdoor kitchens. And even putting greens, he puts those in as well. And then you go to Lowe’s and it’s packed. And it’s just, you know, they’re putting money into different things. So I don’t know that I agree with them not spending money. I think they’re saving up and when you guys open your doors back up, you’re going to be swamped.

William Caldon (12:47):

You know, it is really hard to tell and it’s probably going to be local. You know, I mean the economies are different everywhere you are. And so, some areas of the country are probably going to get harder up here. Actually we have a lot of state workers. So, they’re probably not going to be impacted. They’re probably the biggest industry up where we are right now, is the prison system. And they’re all state workers and that’s not changing. So I’m not sure that the finances of the people in our area are changing a whole lot. Obviously the small mom and pop businesses are really, really, really hurting. I mean we’re shut down. And the hardest part, you know, like you, we talked before we went on air. There about, you know, what, we don’t have crystal balls. So, we were told that, you know, initially we were told by the governor we might be able to start work again on the 19th of April. Seeing patients. Now it’s the 29th of April. And you know, I suspect it will be later than that. So the uncertainty from our perspective, our own individual perspective, is just the uncertainty of one, we’ll be able to start treating patients again. So we’ve been staying in touch with the, with our patients and we have a lot of them that are eager to be seen. We’ve been staying open. We’re the, I think they’re probably about 12, 13 dental practices in our general area and we’re the only ones that are seeing emergencies right now. And initially we saw quite a few, but now we’re probably down to, you know, a couple of calls a day or so.

William Caldon (14:33):

So even that is backed off. But, but our existing patient based that we’ve been in touch with can’t wait to get back. You know, I think what bill was talking about, about the, some of the smaller dental clinics with the older doctors. Are not going to survive all this. And the bigger corporate dental practices, the aspens and some of the other big ones, they’re going to gobble up the small ones. And I think they’re already doing that to some extent, but this is going to be a real catalyst for that to happen even more. And as far as how we, we practice dentistry, it’s kind of interesting that we bought, you know, the tenant is always practiced universal precautions in infection control, not passing disease from us to the patients, the patients to us, from patient to patients. You know, you treat every patient as if they have an unknown contagious disease. So we’ve always done that. However, I think patients are going to have a whole new attitude about being in close proximity to other patients. So how to, how to keep people separated. And demonstrate to them that the next level of security for them, that they’re not going to come to the dentist and catch another deadly disease or a highly contagious disease. I think this is going to be for, in the forefront of their minds now even more so than it ever was before. So we’re just going to have to demonstrate some of the things that we’re doing that are above and beyond things that we’ve done in the past, which have protected everybody all along to begin with.

Wendy Sweet (16:30):

Right, right. Do you see any change possibly in pricing for you? You know, we’re watching houses, housing prices, possibly decrease. We’re seeing interest rates increase. Do you see any changes in pricing for you as well in the, in the dentist world?

William Caldon (16:51):

Yeah, I think. I think some of the things, I think our fees are probably going to end up going, going up. Because we’re going to be, again, adding things that are demonstrably, you know, more promoting safety for the patients. You know, from an infection control point of view. So I think that some of those things, you know, that they have to be, you have to pay for that somehow. So I think that’s going to be passed on to the patients. And so I think the fees are going to go up. I think another interesting part of all of this is that, the people that are succumbing to the virus are the older people and almost every one of them have come morbidities. They have other disease processes that are going on, that has made their immune system less effective.

William Caldon (17:49):

And so, I think it’s, I think from our own perspective, it’s something that we’ve been doing here recently anyway because I’ve been involved more in treating, sleep and airway disorders and temporomandibular joint disorders. And a lot of those problems come from very basic nutrition. And so much of what we’re seeing in, in the American population with the obesity problems and diabetes problems, these things right now are, are indeed pandemic too there. And that’s what, and those are the people that are succumbing to this. So I think what, what I see our dental practice doing is approaching this as from a basic health point of view. All of the things that are causing your dental problems are also causing you to have your type two diabetes. They’re causing you to gain weight. And a lot of it is things that the people aren’t at fault. It’s things that we’ve been told all our lives, we’re healthy, that haven’t been, the whole food pyramid is really upside down from what it should be. And it’s just things that we’re just learning. So I see our practice, we were, we were heading that direction anyway, but I think it gives us an opportunity to talk to our patients completely differently than what we have in the past.

Wendy Sweet (19:09):

That’s awesome! I’m so glad you brought that up. If there was one change in diet that you would recommend to everybody, what would that be?

Bill Fairman (19:21):

Coconut!

Wendy Sweet (19:22):

Coconut, coconut!

William Caldon (19:26):

Get rid of the carbs! And then that’s, that’s the most important thing. The poisons, you know, all the things, you know, the things that the, like I said in the diet, you know, the grains. And in breads and things like that. You know, those are kind of hidden carbs, potatoes and things. People just don’t, don’t appreciate, you know, we all know that sugar’s bad. And I feel horrible. I feel for the longest time I never thought that they were healthy, but I never thought, I never realized how bad they were. I was the doughnut grandpa! You know, I wouldn’t give my grandkids doughnuts, you know. And I’d look back and I see how, that was not a good thing to do. It’s just the whole mindset needs to change. And I’ll be honest, that’s the one thing that I don’t hear being discussed in all of this, about the people that are susceptible and why they’re susceptible. And I think that that’s, that’s going to be critical. Cause that’s going to be, that’s what needs to be the big change to make, make it so that this doesn’t happen again.

Wendy Sweet (20:38):

Right. Right.

Bill Fairman (20:38):

Well, the big food companies have a really good lobby.

William Caldon (20:44):

That follow the dollars. There’s no doubt about that.

Bill Fairman (20:48):

There has to be a little bit of balancing between, making sure that the food lasts long enough to get to table. I mean I understand that there has to be, you know, enough preservatives to feed a lot more people without all the waste. At the same time, yeah, we need to eat more stuff out of our own gardens if we can.

William Caldon (21:18):

Yeah, no doubt about that. You know, I mean certainly in all the processed food, if you can eliminate processed food and just eat the stuff that’s, you know, that’s, comes out of the garden. And again, there, there are all sorts of ways to screen those and vet those. Cause not all of those are healthy either. So, we can talk about this forever, that I’m so passionate about that portion of it. And I feel bad because, I’m learning all this so late in my career. And I just want to pass it along to the new people that joined our practice because I think it’s critical.

Wendy Sweet (21:54):

That’s awesome.

Bill Fairman (21:55):

So you’ve fed the grandkids doughnuts. And your real kids, your actual kids, you let them ride on the rear deck in the car. Right?

Bill Fairman (22:09):

So, let’s talk about your investing. And why you got interested in alternative investments.

William Caldon (22:21):

Sure.

Bill Fairman (22:22):

What was the catalyst for that?

William Caldon (22:24):

Well, you know, for the longest time, you know, we did what we were told to do with the traditional investing. You know, I was, I was in air force for 20 years and so I had an air force retirement. So, the other investments we did, we just didn’t, you know, we did IRAs and things like that. But then, when we got out and started to practice, you know, we got into the 401k thing, you know, the whole traditional investing plan of, you know. Sock away as much money as you possibly can until you have this massive bolus of dollars at the end. And then you know, you’re going to live off of that and you hope that you’ve got enough money, which, because you never know how much is going to be enough. Because if it’s in the stock market, which is where they’re telling you to put it. You’ll never know what the stock market’s going to do at any one time. And you really just, your whole plan is, I’ve got to die before I run out of money. Which, it seems like a great idea to me. You know, so we were so uncomfortable and, and you know, everybody my age, we’ve, you know, we’ve rode the downturns where, you know, you lose half of your, your investments in your, your financial planner says, well, you know, don’t worry. You know, you’ll get it all back. Just ride it out. You’re in it for the long haul. You’re in it for the long haul. And then when you look at it, you, you know, when you’ve been doing it for 20 years, you look at it and go, you know, I’ve got in there pretty much what I put in myself. There’s not a whole lot left, you know. And so, we were feeling pretty uncomfortable with our whole investment strategy and then, you know, you would mention freedom founders and David Phelps. And I came across him, and you know, he was all about alternative investments. Mostly the real estate market. And when we went to the first meeting and were totally overwhelmed cause we had no, no concept of anything that he was talking about, the idea was never, you know, never anything that was ever taught to us in anything that we had ever been involved in before. But the longer we hung around, the more sense that it made and the more that we got to meet people like, like, like the two of you, you know, that we could come to really love and trust, and there are so many other people in the room that are like that and our biggest frustration.

William Caldon (25:03):

Again, we had, we had, we had almost all of our savings tied up in qualified plans in our 401k and IRAs and thing. It took us, it took us two years to get out of the 401k. We had all these bowls of money sitting there. That we didn’t trust the market. So it was sitting in cash for two years that we didn’t have an opportunity to invest. And that was the most frustrating part is we kind of had an idea of what we should be doing. And we couldn’t do it. And you know, we were kept learning more and more and more and hearing about all the good deals that were coming and going and we couldn’t partake in them and we did what we could with what we had. And so now we’ve got out of it finally and we’ve completely deployed with all of our money. And it’s been so comforting during this time when you’re watching the stock market on this massive roller coaster, you know, and just kind of sit back going, that’s not us. This is pretty good.

Wendy Sweet (26:02):

Right, exactly right.

Bill Fairman (26:04):

Well, there are going to be some bruises in every single market, but at least you know that in the real estate side of things, the bruises are not going to last very long. And there were markets, and our markets that are really overheated anyway. And they needed a catalyst to kind of bring prices back to normal. Right? And I, you should start looking at it now, there’s a lot of markets in this country where you can’t buy investment property and make any money. Because the sales prices are way too high. And so you had that, which has been good for secondary markets, because you need to have a certain return and if you have to go out to the smaller markets or what they call it, tertiary markets, and it makes, makes more sense. Yeah, that’s my word for the day. Tertiary!

Bill Fairman (27:09):

So it’s really helped that areas, like the Carolinas. It’s helped areas like, you know, Nashville, Tennessee market.

Wendy Sweet (27:20):

Dallas.

Bill Fairman (27:21):

Dallas, Fort worth. Now, they’re not really, they’re not really, I mean, Dallas Fort worth is a big city, but it’s not, it’s not New York and LA and Chicago. Anyway, it’s really helped spread the investments out throughout the country. And the great thing about real estate too is that, it is local. And you can be very diverse geographically, and property types. It doesn’t have to be residential investments. But right now, you certainly don’t want to be in brick and mortars in the retail sector. I’m a little concerned about those markets with, you know, movie theaters and restaurants and the small mom and pops are really gonna have a hard time paying rent. And of course you’ve got, you know, your big malls are dying too. They’re all having to be redeveloped. But if you’re, if you’re in housing, it could be multifamily, it could be single family. And I always say this all the time. You need two things in any market, food and shelter. And now there are some business owners that are probably living in their current building. You’re going to lose out one way or another. And I hope this stimulus money is gonna help bridge that gap. The thing that we’re looking at, and I know I keep talking Bill, I’m sorry.

Bill Fairman (28:59):

But as, some markets are losing employees, there’s other businesses that are, are trying to hire desperately. So it reminds me of the, you grab a balloon in the middle and you know, it expands on either side. So there there’s always going to be an upmarket somewhere else. And the same thing with real estate in general.

William Caldon (29:22):

For sure. There’s going to be lots of opportunities coming out of this. As you well know, you know, you’ve been through the down cycles before and that’s one of the reasons, you know, again, why we feel so comfortable investing with you guys is, you’ve had the experience. And even just now with what’s occurring, you know, as, as your situation changes and the climate changes, you guys have been able to pivot and take a different approach to how you are managing your portfolios. And where you’re, where you’re getting, you know, some of your money from. And so it’s, it’s very comforting to be with people that have experienced, you know, what, not exactly like what we’re going through before but are seeing the down markets and just trying to understand where the advantages are and where the disadvantages are. And you know your market, you know the people that you deal with, you know, you’re not new to the game. And so, you know, even when you, your fund, you know, it was, it was still doing very well relative to what most other investments are doing. And when it took a little bit of a slump there, you know, you were so transparent in describing exactly what was going on and what you were doing about it. And how you were going to fix it. And again, it’s, you just don’t get that from, you know, from a stockbroker or from a financial planner, you know. Who was just taking a cut off of your money. You know, it’s just, you know, you’re dealing with a friend and a loved one and it, and it, it’s, it’s so nice to be able to do that.

Wendy Sweet (31:10):

Well, thank you. We appreciate that. And it sure helps us when that, you know, that we’re working with people who, who understand, what’s going on. They’re transparent with us too. And it’s just, it’s just a really good relationship to be in.

Bill Fairman (31:35):

Well, you know, from our point of view, we want our investors to be as educated as possible. Because the more they understand, the more comfortable they’re going to be. And frankly, the people that don’t want to learn are the people that I really don’t want in our fund anyway because…

Wendy Sweet (31:55):

They’re the troublemakers!

Bill Fairman (31:59):

Markets do change and things happen. And they’re not going to be understandable because they haven’t, you know, haven’t been willing to educate themselves.

Wendy Sweet (32:09):

And you know, I’ve spent. I’m sorry. I’ve spent a lot of. Oh, I touched him. I didn’t mean to. Edit that out. Yeah. So one of the things that I’ve been spending a lot of time up, time doing here lately is talking to borrowers who are calling for money. And doing my best to talk them out of borrowing at this time. I’m trying to get people just to sit for about 30 days. Because they don’t know what the values are going to be. And, you know, if we’re doing any kind of loan right now we’re only doing 65% and we’re collecting six months interest at the closing table. So that thin the herd out pretty quickly to come to the table. So, so the ones that, that have that kind of wherewithal to bring to the table were that much more comfortable with to begin with. But it’s, you know, I feel like I’m spending all of my time now just training people to be patient. And really renegotiate what they’re doing. If they think it’s a good deal, they need to make it an even better deal because they really don’t know what the prices are going to be like. And if we’re worried about our exposure, they should be worried about their exposure as well. I try to tell people, if you’re doing it alone and the lender’s turning you down, you should be looking at, you know, you should be looking at another property instead as well. Because they’re turning you down for a reason or they’re steering you in another direction for a reason. And it’s, it’s important to listen to the people that have been through all of that. And that have parameters and things set up to keep from making mistakes. We’re all gonna make mistakes, you know, we’ve made them in the past. We’ll make them in the future, but you want to make them as inexpensively as possible.

Bill Fairman (34:01):

And you want to minimize them as much as possible.

Wendy Sweet (34:01):

That’s right! That’s exactly right.

Speaker 2 (34:04):

Yeah. And we were very fortunate that, you know, we changed our focus last year. Because we knew there was going to, everything was at the top of the market anyway. Sure. And you know, we were preparing. I don’t want to say we were preparing for this. Nobody was preparing for this. We were preparing for a downturn. And so we’re at, we’re in really good shape and you know, from our perspective, we’re still accepting funds into our fund. But we’re, we’re lending very little right now until we can figure out where the market’s going to go from here, but we’re going to be in great shape for, when the market does turn around. We’re going to be able to jump in and take advantage of…

Wendy Sweet (34:54):

And you know, Bill, you mentioned the Freedom Founders and David Phelps. And you know, we have to lift them up with, just give them great kudos and credit and, and be grateful that we’re in that group. Because it’s really because of Freedom Founders that they just constantly ask us, you know. Do you have a stress test at trusted advisors? Do you have a stress test available? Are you thinking about, you know, if you lost 25% of your business, what would happen? They’re always making you think about what you’re going to do in a defensive position if something like this happen. So you have to be on the offense to have all of those plans put into place in the beginning. And it’s, that’s really helped us out a lot, watching what they’ve done and how they’ve changed their, their company and the way they do things really affected us as well, made us, we wanted to be copycats.

William Caldon (35:49):

So many new people in that room, you know. Asked me, you know. What’s your return on investment here? You know. The dollars, you know, that you’re paying to be part of that group. Is it, is it worth it? You know, I mean, how much, how much money do you make out of that? And you cannot put a dollar figure on being in a group like that. We would have never met you guys. We would never, we would have never found out every, you know, every meeting we go to. It’s such an educational experience and we’ve made so many good friends and good relationships. I mean, we have a, Oh, you know, a woman working in our practice now is the daughter of Mark Jackson. Who was also one of the trusted advisors. And so the relationships, you can’t put a dollar figure on any of that.

Wendy Sweet (36:36):

Right, right.

Bill Fairman (36:37):

Yeah. As a matter of fact, Mark is going to be one of our guests on the very next show coming up here in…

Wendy Sweet (36:44):

At one o’clock.

Bill Fairman (36:45):

Around one o’clock.

William Caldon (36:45):

Very cool! Well, tell him I said hi.

Bill Fairman (36:53):

I want to thank you so much for joining us today.

William Caldon (36:57):

My pleasure. For sure.

Bill Fairman (36:59):

Awesome! I missed you. I haven’t been able to see you in a little while.

William Caldon (37:08):

Virtual Fist bumps.

Wendy Sweet (37:08):

Yeah. And hugs.

Bill Fairman (37:08):

Tell Margaret we said, Hi.

William Caldon (37:09):

Yeah, thanks for everything, guys. Thanks for all you do for the community and for us. You know, we can’t, we can’t thank y’all enough. It’s, you guys are great friends. We love you. Thank you!

Wendy Sweet (37:19):

We love you too Bill.

Bill Fairman (37:19):

And Oh, by the way, the reason we live where we do is we already have leaves coming out on her crepe myrtles. He is of all finished blooming. And hope any snow coming.

William Caldon (37:33):

It’s going to be few months before I start sneezing up here anyway.

Wendy Sweet (37:39):

Stay safe Bill.

William Caldon (37:39):

Thanks very much guys. Bye. Bye.

Bill Fairman (37:41):

Thank you very much.

Bill Fairman (37:44):

Alright! So that’s the end of this show. So, tune in. In about what, 12 minutes?

Wendy Sweet (37:54):

I can’t see the clock. Oh, there it is. Yes.

Bill Fairman (37:58):

Again, if you have any questions, CarolinaHardMoney.com and please, you can leave some questions or comments. We will get to them and answer them at a different time. Don’t forget to like us and subscribe to our show as well.

Wendy Sweet (38:15):

And if you go to our Facebook page, CarolinaHardMoney.com you can watch the show on there at one o’clock.

Bill Fairman (38:21):

Yep.

Wendy Sweet (38:22):

Right?

Bill Fairman (38:22):

Absolutely. Alright, you guys have a great day.

Wendy Sweet (38:25):

Thanks.

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