In this episode, I talk with Bridger Pennington. Bridger is a serial entrepreneur and founder of multiple investment funds that have done over 200 deals in the last 4 years.
Through his company Fund Launch, he has coached thousands of investors and entrepreneurs on how to start their first fund.
We will discuss how he became an authority figure in the fund space at such a young age and things you should consider before starting your first fund.
We will also touch on the process involved in starting a fund and common mistakes that people make when starting a fund.
Transcript:
Bridger Pennington 00:00
My whole mindset is like you got to win the money game as quickly as possible so that you can go now explore your passions, you can be philanthropic, you can help other people, you can explore other things. Money is like the biggest cause of stress people’s lives. If you can win that game, life’s not going to be perfect, but a lot of those stretches can be a lot easier. If you can solve that game. It helps in a lot of ways this doesn’t solve every problem, but it helps in a lot of ways.
Chris Bounds 00:22
In this episode, I talk with Bridger Pennington Bridger is a serial entrepreneur and founder of multiple investment funds that have done over 200 deals in the last four years. Through his company, fun launch. He has coached 1000s of investors and entrepreneurs how to start their first fund, we discuss how he became an authority figure in the fund space at such a young age, what to consider before starting your first one, what that process actually looks like getting started and common mistakes that you need to avoid when you start your first fund. I hope you enjoy now on to the show. How’s it going, Richard?
Bridger Pennington 00:57
Good, Chris. Happy to be on dude. It’s gonna be a phone call.
Chris Bounds 01:01
Really excited to have you on. And I know you’re super busy. And you’ve got a ton of great content out there. I’ve enjoyed it. And I know a lot of folks do. It’s a very niche topic. What you’re in and that’s funds and fund management, starting funds and coaching funds, fund managers. How did you find yourself in the fund management or investment fund space?
Bridger Pennington 01:30
Yeah, I’ll give you the the short version. We can go bingo more if you want but I I started six different businesses in college. I was super ambitious. I got into university and I was just trying everything I actually wholesale two houses for your audience that has wholesaling, I wholesale two houses, I built websites for people I was doing. I bought the Chinese tutoring business, I was doing all these different businesses literally like those were business ideas. These are actual, like six businesses that were up and running like doing like business. And finally I Yeah, long story short, I don’t know, do you want the full story long story,
Chris Bounds 02:01
go for it. And add context for your end. Like you definitely more aggressive than I was but flipped to flip for houses in college. And I mean, I was coming up with all these business ideas that the internet was still like really, really, really new. So and the entrepreneurial thing, it’s kind of sexy now. But back then, at least when I was in college, it was really, it was very early. Cool. Yeah, no, it definitely wasn’t as cool.
Bridger Pennington 02:27
What actually was funny is during that timeframe, I thought it was like cool to like wear that as a badge of honor. Like, oh, like I’ve started, like, I’m running two businesses right now, or three businesses at the same time, because some of these were overlapping each other, you know, because I’d had like, I was doing real estate on one thing and other business. I’m like, I finally realized that’s like, and I kind of wore it as a badge of honor, like when I’d go like on a date with a girl and I’d like bring it up because like, you know, it’s cool to be an entrepreneur in our day and age and like, you know, and in reality, that’s the worst thing you could do is launch three businesses at once. You know, it’s like so stupid. It’s the dumbest thing. And I like I thought it was cool in college, and it was like, Dude, you’re an idiot.
Like, no one successfully launches three businesses at the same time. Like ever, you know, like, why are you saying like, yeah, like I told him I remember I was like dating this girl. I told like her dad, like, oh, yeah, I’m running like three businesses right now in college, and I thought it was so cool. And like, I’m like, Man, I’m such an idiot. But anyways, I digress. So I’m in college. And I’m doing this, my dad finally grabs me and he’s like Bridger, you’re kind of like a chicken with your, excuse me, a chicken with your head cut off. I want you to go meet with my business partner, this guy can really help you out. And I said, Okay, I’ll go meet with this guy. And, and by the way, I grew up in a pretty normal household. Nothing crazy. My dad drove an old car.
He was I knew as an entrepreneur, we kind of had the ups and downs of being entrepreneur family, and that was it. Anyways, I drive this guy’s house, I pull up to my dad’s business partners house and it’s this gorgeous, beautiful home, like this White House. It like encompasses a cold a sack. It’s like amazing. And I come and I got in my car, I go knock on the door, and I’m like, Oh, I’m a little nervous. You know? I’m like, Who is this guy? Like, you know, like he’s a butler gonna come in like, be gone peasant. Get out of here kind of a thing, you know. And so I knock on the door and thankfully he comes in. He was Bridger Come on, and I come to this guy’s house and it’s gorgeous. He’s got the grand piano, the the wine cellar, the basketball court in the basement, the cars, the pool, like everything, you know? And I’m like, Whoa, and I come and sit down and long story short, we started chat, but I finally asked him, How did you get all of this? Like, what did you do?
Like how did you do this? And he goes, Bridger, funnily enough, not a lot of people asked me that question. And I was kind of taken aback. I was like, oh, shoot, like, that’s the first question I had. And I came in here. And he goes, No, no, it’s okay. I’m I’m totally willing to tell you, which is actually a good lesson itself. I think a lot of wealthy people are actually very willing. They actually want to share and empower the next generation of entrepreneurs. Not a lot of people ask them, not a lot of people and I’m not talking to people like that already have shows online. I’m talking to just private individuals that are rich. A lot of them actually love to mentor college students or young entrepreneurs. Whereas you know, and
Chris Bounds 05:01
actually find, the wealthier they are, the more willing they’re able to give, or the more willing they’re, the more they are willing to share.
Bridger Pennington 05:12
100% Because what else is there to life, like, you know, they’ve already won the money game, and they, they get so much, and I now get to hang out for all these people, they get so much satisfaction in helping kind of their younger self, you know, like, they see if they can if you can show up to a big rich person, and they can see a little bit of themselves in you, man, they, you’d be surprised how much they open the floodgates of partnerships, connections, whatever you need, because I want to help you out. It’s I’ve seen it across sports actually really cool. But you’ve got to prove that you’ve got the ambition, the drive, just like they did back when they were younger, just like you and anyways. So besides the point I asked him, What did you do? And he says, you know, he goes, I was a lot like you in my 20s. He goes, I ran a bunch of business.
Actually, he goes, I actually had moderate success. I just did really well. Then I fit he was then I figured out the secrets of the ultra wealthy. He goes the ultra wealthy families of the world, the Vanderbilts, the Trump’s the Romney’s whatever family you want to point out, a lot of them run investment funds, or they have their kids, they get their kids into the best universities. They want them to go work in the fund world private equity, hedge funds, venture capital or come back home and run the family office. And he goes, I met a guy a couple years ago, they ran a private equity fund. He was one of the wealthiest individuals I’ve ever met my entire life. And he said, I didn’t care how long it took Medicare. It took me one year, five years or 20 years. I was gonna figure out what a fund was how to start one and how to scale one and he goes, that’s what we did. And he goes we started a Real Estate Fund.
At the time they were managing over $8 billion, billion with a B $8 billion mostly multifamily real estate, which is bonkers, right? That’s that’s twice as big as CARDONE capital is today. Right? So just put it in perspective, like Grant Cardone, today, they are over $40 billion, so they’re 10 times bigger than CARDONE capital. They’re 10x Uncle G and not nothing against Uncle G. I like Uncle G. But it’s just kind of put in perspective, a frame of reference. Yeah, it’s a really, I mean, it’s like, Whoa, those guys are massive. I think their top 10 in the world real estate cameras anyways, crazy. So I said, this guy’s rooms like, Dude, this is amazing. I was like, I’m like sold. I’m like, I’m sold on funds.
I want to do a fund. I want to figure out this game of funds. And I said, Can you mentor me? I’d love to have you coach me. I’ll come early your house, I get your coffee. I’ll do whatever you need, like, I’ll drive you like what, dude, I’m yours. Like, just teach me you know? And he said, Bridger. Go talk to your dad. Your dad knows way more about Schneider. And I said, No, no, my dad’s. We live in a kind of a smaller house. He drives a crappy car. Like, I want to learn from you, dude. And he’s like, Bridger. I’m sorry to break it to you. But me and your dad make about the same amount of money. And my chin dropped on the floor. I was like, Huh? What, like, come again. He’s like, Yeah, we’re, you know, we’re pretty much equal business partners on this business.
And Anyways, long story short, I left this dude’s house, I ran straight to my dad’s house. I was like, Dad, what the heck? Like, what’s going on? Like, why haven’t I been able to, like, you know, order a soda at like the restaurant for the past 10 years, because it’s too expensive, you know, and we’re saving money on this little trip or on gas or whatever here. And yet you’re running a multibillion dollar investment fund. Like, where’s the disconnect, you know, and anyways, he got a laugh and smile. So I’m going too long here. Feel free to cut me off. But we I said, Dad, will you teach me and and every so for the next I don’t know, six months to a year, I went over to his house every single Sunday night. And we’d sit down on the whiteboard, and he would teach me about funds, how they’re put together what they even are, how do you run a private placement?
What’s a 506? B 506, C Reg, a funds three C one, three C 513? C seven funds? Like, what are these, all these things mean, and actually how to start a fund how to run one how to scale one. And it was pretty, it was a whole I mean, a PhD degree, I got just on a whiteboard, which is pretty cool. And so sorry, I’ve gone too long here. But the thing about life is when you start to learn about something, you start to recognize that thing in your life, like the old Tony Robbins talks about that all kind of stuff. And so I start to learn about funds. And I started to recognize opportunities around me, where a fund could solve a lot of problems. And not a lot of people think like that. And anyways, I was worried I was actually so I’m in college right now. I’m actually also working a job and trying to run a business and I’m starting, because I wasn’t getting money from my parents, you know, so I am at this job. And I have this idea that I can start a fund inside of the job. It was it was pretty cool.
They needed financing for their clients are coming through I talk to the owners of the business. I’m like, Hey, can we do this? And they’re like, Yeah, that’s actually really cool. So I by the way, I’m 22 years old at the time, so I’m still in school. I go these guys love the idea and pitch my dad My dad loved the idea. We put together this whole fund and I was so excited. I was gonna like you know, run a fund and college and do this thing. And so I get all together. I work really hard for two or three months get all set up. And finally I’m like ready to launch and I’m like, Okay, I’m ready to launch Here we go. And then I go crap. Now I gotta raise money. Like I got, I kinda have to work. Yeah, like, for whatever reason I overlooked that part. I was like, I just thought to be so easy like, Oh, I’m just gonna raise money, I’ll put it together like this is it and then I was like crap. Like, who’s gonna invest in me? Like, I’ve got no experience. I’m not a college graduate. I’ve never done this before. I’m young. I’m inexperienced, like who would ever write me a check? And then I thought, Aha, my dad, like easy do like, or this other mentor guy to like, easy. These guys believe in me. I’m like, the younger self. Like, I’m like, they’ll totally Invest in me. So I remember I went to my dad’s house. And it was on a Sunday night, and I got my little pitch deck and everything. I said, Dad, how would you like to be our first investor into our fund? And my dad kind of smiled, and he said, Bridger, I have the money to invest, but I invest in your fund, I would ruin the experience of you raising money on your own. And he said, No, he said, this will, this will be a crutch that you’ll never be able to cover from and you need to go, you need to go raise money on your own. And he kind of kicked me out. He said, Go, you gotta go do this. And I kind of walked out with my tail between my legs a little bit. And I said, You know what? I’m going to take you up on the offer. And I went out. And I talked to everybody I knew I talked to former boss’s college professors, family friend, like whoever it was. And I raised a whopping $49,500 from, I think, seven different investors. So like, average check size was like, seven $7,000, I think, like so small, like teeny. But it was enough to get started. And we started this little micro syndication fund, we were doing these short term loans to these clients were coming through the loans would last like two months.
And we got a really good return our first group of investors, we got them a 64% return on their money, which was incredible. We then close that personal Syndicate, we launched another fund that was more official, we raised deployed millions of dollars of that fund, like I got it way more legit. We had kind of a small track record. I ran that fund for about three and a half years, I think our annual cash on cash return was 60. So the first one is 64. Nashville is 6249 and 36%. cash on cash return to investors, which is amazing. I then had a competitor come in, buy us out. So we actually bought our whole business, which is so cool. So I had a great accident on my fund.
And then during that time period, and then I’m sorry, just finish that up. We that was about a year and a half ago, we then I recently just launched another fund a hedge fund with a different partner in crypto, we just raised $10 million dollars and our initial launch we launched last year, probably the worst time to launch a crypto fund. And we’ve actually performed really well. It’s been amazing. It’s called the ugly unicorn crypto fund. It’s done really well. So during that whole time period, sorry to summarize, and you can we can take those back somewhere else. But thank you, Chris, for letting me go on.
Chris Bounds 12:38
Yeah, there’s a lot to unpack there. And I love that story with your dad. I kind of related a little bit all actually before I go there, I got a chance to talk with him at your event last year in Vegas and hear his side of that story. Just his perspective. And it was just, it was it was it was very interesting to hear that and basically the way I summarized his, the way he was playing that game was it was he was almost living like that immigrant lifestyle. And he was very clear. Like, I mean, no one went went without one. I mean, you had a nice life, but you didn’t live the in he didn’t live like He was ultra wealthy. But ultimately that it was that ability probably that allowed him to compound returns over time, because at the end of the day, like the Porsche really, what does having multiple multiple 100 Cars are huge house, was that really going to do for you? So that was very interesting.
Bridger Pennington 13:37
new thing? Yeah, I’ll say that my dad has. I mean, he has compounded very well. He’s a really good investor. And really Warren Buffett.
Chris Bounds 13:45
I mean, if you look at that, like,
Bridger Pennington 13:47
yeah, it really is that and he did he talked to me. He like he’s retired now. But he just does like trading for fun. And he I mean, he kills it in trading. He always, like I always I’m like, Dad, what’s your stock picks for the next six months? Like I’m like, I always get like, I’m like, What are you doing? Because I want to copy. He really is a good investor. And now I’ll say this is just better for my dad, though. Want now that his kids are all out of the house and everything. I mean, he has a huge home now he he’s just bought two more homes that he’s living in. He’s bought, he’s buying all sorts of toys and other stuff now after his kids are out of the house, which I thought was really interesting. And kind of a, you know, I had a guy on my show actually yesterday or two days ago, super wealthy dude, he’s worth probably a half a billion dollars. And he’s like, I used to have like a private jet and helicopters and cars and he goes, I saw it affecting the way my kids live life.
And he goes, he said to me, he goes, optics are very important. And he goes right now I sold my jet. I drive a Yukon Denali, pretty standard SUV. And when I fly business, I fly private. My kids never fly private. My kids never because they can come on vacations with me but they get a total they all know they get a total of $0 When I die, they’ve got to earn on there which I thought was kind of cool. We can talk more about that in a minute but My dad kind of the same thing, which is, I think, pretty cool.
Chris Bounds 15:02
Yeah. And so my grandfather, I remember whenever he built a business, like 300 plus employees, and he’s all he was old school, you know, though, walking the school uphill both ways, working 18 hour days and on top of school and all this other stuff. And I remember going to him when I was going to invest in real estate, and he definitely had the money. But he said, No, when you were saying how your dad said that, and then you mentioned the crutch. It’s very true is Had he given me the money, then he would have been my single source. And ultimately, when he said, No, I had to go figure out how to raise money for to buy these houses, had to figure out what is the mortgage industry? What did they look for, and it was a very educational, it was stressful. I don’t I wouldn’t say I really enjoyed that particular moment. But at the end of the day, it taught me so many more things. And I now don’t have that crutch. And now my grandfather did end up investing in one rental property, but it wasn’t my first one. I don’t think it was my third deal. And that was the one and only one he did was he the actually the only the only deal that out of the 200 that we’ve done that he’s helped me out with. But it’s definitely important to learn and get that
Bridger Pennington 16:24
experience your first your first investors, your heart isn’t bad. Investors are fine. And I think back to that crutch concept. If your first investor was your grandpa, in the back of your brain, I think or my brain, I think we would sit there and go even if you have success, you go well, it’s only because my grandpa my dad was my first investor. Yeah, and question Yeah, would you have done it without think that would eat you alive? It would each your confidence kind of nibble at you in the back. And it’s I think it’s a big disservice that a lot of well intended family members do to other family members is prop them up or help them. And if they have success, it’ll still hurt their confidence. If they have negative if they lose the money, it hurts their strains the relationship a lot, and hurts their confidence even more. So I don’t know. It’s it’s I think it’s pretty wise not to do that. So yeah.
Chris Bounds 17:16
Somebody else want to go in. So you started your first fun at 22. I looked up the stats before the average age of a fund manager 71% or over 40 years old 95% or over 30 years old. So I’m not sure where it breaks down before you’re probably in less than 1% that we’re starting fun. So what did your friends think when you’re now I mean, you’re already very unique being entrepreneurial. But now you’re gonna go out and start a fund like, what would your friends think about that?
Bridger Pennington 17:55
Well, I have friends and well, other people as well, I, you know, a lot of people just don’t believe in Yeah, or just think you’re crazy, right? Just like this, this young kid, which is partially true like, man, who do you think you are to go manage money and stuff? And I said, I don’t, I don’t think of myself that great. I don’t I’m not trying to I just know I have one little niche. These little loans that we’re doing that are really good. I don’t know, the stock market. I don’t know all this other stuff. I know my little game right here. And we have asymmetrical risk versus return we have a relatively low risk for high return. And so when talking to investors, we’re always asking the same questions like Dude, I don’t know everything. I don’t know, real estate and other stuff. But I do know the little thing we’re doing and it makes money, you know, and so that’s the angle I went about it.
My friends still this day, I don’t think have any clue what I do. With my wife, even now, like I don’t think they get it. I don’t think they I really don’t I honestly don’t I and I don’t say that, like condescending. Like they just, it’s actually really interesting. Um, you know, I’m online now. And now just you guys, right? Like no teach funds as well. So I run a fund, we also have 36,000 people that are in our community, and course and all that kind of stuff. And it’s funny, I have a bunch of friends from a ton of friends from high school and college and a great friend group and all that kind of stuff.
It’s really funny. Almost not I almost when we hang out and get together, I almost get I get asked by my business about, I don’t know, 5% of the time, like people just never asked me about my business, which I don’t know. We just totally fine. It’s like, let’s just talk about our stuff. And I don’t know, because I’m online so much I talk so much about it. They’re just like, I don’t want to hear about it. Or they some people just don’t get it or they don’t care or whatever. I’m like, Cool. No, no hard feelings were good. I rarely get asked about my businesses for my friends, like ever. And so I almost in the background, like maybe they just don’t make that because it’s interesting.
Chris Bounds 19:42
Yeah. When I when I was in college, and I was ridiculously entrepreneurial, get that from from my grandfather. But when I would explain that to and it wasn’t cool, you know, it’s cool now, but still, it’s not for everyone back then it wasn’t quite as cool. And I say back then this is not I graduated in oh five, so it wasn’t really that long ago. But whenever I would explain what I was doing, it was just like deer in the headlights like, like, they were clearly there to get an education and get a job. And there’s absolutely nothing wrong with that. I think I was a little too aggressive and probably burned some relationships or just maybe not burned relationships, but definitely kind of soured by Bebi being very aggressive in talking about, well, this is why you should don’t, you know, have a business and being independent and 70 other when it you know, it’s really not for everyone, so when you talk about how most folks, or they just don’t even ask you questions, and it’s really not in their interest graph. Like, that’s, that’s kind of okay.
Bridger Pennington 20:45
And people are just different people aren’t wired like us to like run business, I’ve invited most of my, I’m kind of talking, my friends from high school and college, I still have a great group of friends. I’ve invited almost all of them to, like, do business with us do something together, like let’s do and like, let’s like, you know, let’s all like already have connections in there, a lot of them are just like, I’m good. Like, I’m alright, you know, like, I don’t, I just want to go to school and get my thing. And I’m like, okay, like, I just don’t understand that mindset at all. I don’t get it, and they don’t get me. Because I just don’t get like, I’m gonna go work for the next 30 or 40 years work up the chain, I guess not think about money, I don’t know, my whole mindset is like, you got to win the money game as quickly as possible.
So that you can go now explore your passions, you can be philanthropic, you can help other people, you can explore other things, if you can win the money game, money’s gonna money’s the number one cause of divorce, like all these other things, money is like the biggest cause of stress people’s lives, if you can win that game, life’s not going to be perfect. But a lot of those stretches can be a lot easier, right. And if you can win it quickly and condense maybe decades down to years, and years down to months, you can, you know, move a lot faster, and not to worry about the biggest thing that people struggle with and get divorced over and commit suicide over. And you know what I mean, if you can solve that game, it, it’s it helps in a lot of ways. It doesn’t solve every problem, but it helps in a lot of ways. And so that’s my mindset. And I’m like, I think you’ll
Chris Bounds 22:10
think you’ll find once that graph, once that group starts getting into their 30s that point, families are usually involved, possibly kids, and then just a little bit maturity in their business and, or not their business, but you know, their, their career. Priorities change, and they’ll come back around and say, Hey, I’ve got X amount, my IRA, what can you do with it?
Bridger Pennington 22:34
Well, and it’s funny, I actually I love that. But it’s, it’s, you know, people that hit their I think about their mid 30s. Whatever that time is, they go crap. I think that that’s why that there’s a midlife crisis is a real thing is because people go I should have taken the money route a way different way. Because it doesn’t usually the first year, two years or three years, you don’t see the separation of individuals, like from your class or your grade, or whatever it is. But you do see it in a decade. And then you a decade later you go, Huh, man, they interesting I was right there. I was right next to that person. I just decided not to just follow that path. I went a different path. And I’m in a way different place now. And I think a lot of people, it’s kind of sad. I wish it wouldn’t be that way. But a lot of people wake up and say, shoo, I wish I would have been more attentive to the money game.
But now, they’re in a way riskier state. They’ve got maybe a mortgage, they’ve got a kid or two, they’ve got responsibilities. And now the risk level is way higher than if they were 22 years old. I had a great mentor this, this actually changed my life. I remember I was talking to him. And this guy he was he was uh, I only met him one time in my life. This guy came he was from Harvard came and spoke at our university about business entrepreneurship. He gave this great speech. I was listening to back he then finished, he came to the back of the room just to watch the next speaker. And I was like, Dude, he’s right there. I’m gonna talk to him. So I wanted to this guy. And he’s like, Hey, my name is Bridger. I’ve started a bunch of little businesses. I’m thinking about doing a kind of risky business venture. I think this was about my fund. By the way.
I can’t remember which business but I thought it was my fund. I said, think about doing a risky business venture. What’s your thoughts? So should I just go and like, because I got I had a really good GPA. In college, I had an offer to go work at a huge firm out in Silicon Valley, like a six figure offer. And I was like, that’s kind of the safe route. Or I could go after kind of my dreams and launch a business. And he goes, I’m like, what, like, would you take the like, What’s your thought on risk? And he’s like, he kind of paused me. He said, What are you talking about? I’m like, Well, yeah, like, it’s kind of risky to go start a business and do all this. He goes, he was like, dude, hold on.
He goes, if you start this business and you fail, like let’s say it fails, you lose your money, whatever, it goes to zero. He goes, Do you have a parent or a grandparent or a cousin that you could move in with for three or four or five months and they would, you know, you could sleep there and they could you could eat and stuff? And I was like, Yeah, you know, honestly, I yeah, I could probably move in with somebody like, I have good, you know, and he goes, could you probably get into about, you know, whatever, wakens 15 to $17 an hour right now and do that and was like, Well, yeah, like, that’s kind of like the new minimum wage, right at least where I live. And he goes, You don’t understand risk. You’re your worst case scenario, you get a move in with someone who loves you, you got food in the fridge, you got heater, air conditioning, and you can get a job that pays you almost $20 An hour driving a truck that you can pay all your bills within a month. He goes, that’s better than 90% of the world lives.
You have no idea where risk is. And I was like, huh, he goes, I would go after your dreams. And guess what university is always here. There’s always job offers they and people love hiring entrepreneurs that have are like gone after something. He goes do. And right now you don’t have a big mortgage, you don’t have kids you don’t have he goes it’s way riskier for me. I’m in my state to make a risk. Because if I if I risk it and lose it, man, I lose hundreds of millions of dollars. I have hundreds of employees that now don’t have money. I have family kids. He goes if you lose it all, you lose what 10 grand. And like you can just you can make that back in three months working at McDonald’s. Like, you don’t understand risk. And I was like, Whoa, that anyway, sorry. I’m going too long. But that changed. Yeah, it was like,
Chris Bounds 26:19
and I’ve heard that from other other folks. I mean, Gary Vee talked about that, too, where it’s like you’re in your early 20s. That’s the time to take risks, because you have time and you don’t have as much responsibility. Typically. Yeah, I’m moving over into the funds, the funds space. So you work with a lot of fund managers or aspiring fund managers, folks that that are considering certain and fund, what do you generally recommend folks consider before they ever sort of find like, what do they really need to think about?
Bridger Pennington 26:53
Yeah, it’s a great question. Actually. Number one, when people are concerned, I tell them get a ton of education around funds, come learn the game first. It’s like trying to decide like, should I go play rugby? It’s like, Well, you probably should just learn the rules of rugby first, like, see, if you’ve been like, if you like the construct of the game, you know what I mean? So come learn the game is what I tell people first. That’s why we actually provide a ton of free courses and just videos on YouTube just to teach the game so you can understand where the rules are, what the lines are. But once you’re in the game, there’s tons of strategy and stuff you can put in there, which is cool. Second thing I tell all people that do not consider this game, unless you are deeply honest. Yep. And I really mean that you will go to prison, if you’re not deeply honest, if you don’t have a something inside you, that’s like deeply honest, if you typically lie or screw people over, whatever just I’m telling you, it’ll save you 20 years of prison.
This game is not meant for people that are have a propensity to lie. And even people that are honest people, they’re honest, until they’re managing $100 million. And then and now there’s there’s controls and stuff now and it’s a lot better than it was 20 years ago, but people would you know, you rent manage $100 million fund and and mom, you know, someone’s really honest, until mom gets sick, and mom has cancer. And cancer treatment is a million dollars overseas. And you go well, you know what? I love mom, I gotta save mom, I’m just gonna borrow some money from my fund to go pay for mom’s cancer treatment. And all of a sudden you committed fraud, and you’re going to jail. But you’re justified in it, right? Like most fraudsters don’t start out as fraudsters.
They start out as honest, good people like me, and you kinda. And then they something happens where they just can’t handle the thing. So I could talk for two hours on that. But if you’re not deeply honest, if you if you if you can’t manage, I love the parable from the Bible. If you can’t manage a little bit of money or a little bit of ownership, you probably can’t manage a lot of money and a lot of ownership. So how do you manage your current family office? How do you manage the current money you’ve been gifted or given? What do you do with that lot? And can you compound that 100 times into a fund? Those are a few things I would consider in the back of your brain before playing this game. But again, educate yourself come in and learn all that stuff.
Chris Bounds 29:09
Yeah, the SEC is not they don’t really care if you’re 22 or 62. If you’ve got 10 million or or a billion like the day the rules are the rules and their hammer swings just as hard regardless, I saw a memo today that they the SEC I don’t know if it was they brought charges or they actually finalized charges against him syndicators just doing what they shouldn’t be doing and it’s pretty pretty it was a pretty common it wasn’t a nuanced it was something that they should have known. Like, just I haven’t been in the game that long and I’m pretty aware of what they did was was not right, but that’s good to know. So with raising private money. I had one
Bridger Pennington 30:01
thing there before. Go ahead, just so it doesn’t scare people away though. The SEC, in my opinion doesn’t just come after people, though, because you read all these reports of like, Man, I’m just waiting for the day, the SEC is gonna come whack me on the head. You know, if you’re running your business, right and you’re honest, and you’re doing stuff the right way, the SEC wants you to be in business, they actually like you. They’re not coming to just doom and gloom, you most of the time, the SEC comes after people after they get complaints, just so people are aware, they get investor complaints from three or four or five investors to investigate a certain individual and then they come in investigates usually based on that, and that usually the complaints are, hey, we’ve lost a ton of money, we aren’t getting reports, we think this guy’s lying and stealing our money.
And can you go investigate? And so if you treat your investors, right, if you run a the right, you know, good business, you’re making money in your investments, life’s great. It’s actually a fantastic business to be in. And the rules are actually very good because it kicks out people that are fraudsters and helps them their investors come to you, you know, to better that’s a good fund manager. So just wanna make that note, sometimes that scares people away. And I don’t think it should, if you’re, if you’re that type of person, it’s actually the best thing in the world. So sorry, Chris, I cut you off.
Chris Bounds 31:05
Yeah, no, and that’s good. Because the SEC provides even better, better framework. So I’ve done I’ve raised 90 million over the years, just for my Phillips, just, it’s usually one on one, hey, I’ve got a flip bridge, I need 150,000, once we’re going to repair it, and we’re gonna sell for 300, boom, done, it’s a note, good to go. But at the end of the day, like that could be bad too. If I don’t do what I say, if I’m not very transparent on what we’re doing. And I don’t actually perform and actually have good communication with you. So thankfully, you know, my, my parents instilled strong ethics and honesty and humility to where I was very honest with all my lenders, and even a couple of deals because not every deal goes the way you want it. Even a couple deals that took longer to sell or we didn’t get the price. It was just hey, Bridger hits take a little bit longer.
Here’s here’s a couple of things we can do can refinance you out? Or you want to extend we’ll do this, this and this. Yeah. You know, as opposed to claiming upward receipt others, they get in panic mode, then they just stop returning phone calls. Yeah. And then now an investor or in this case, private lender, they’re nervous. And it’s just when you got the SEC involved, stakes are higher. So at the end of the day, do what you say you’re going to do have clear and ongoing communication, and then just rely on your lawyers as far as drafting documents, documents, making sure everything is structured in a way that that’s compliant. I actually find funds are a better way to raise money just because there’s all like you mentioned, there’s all those added protocols that you have to go through. These are hoops you have to go through. And that’s to help make sure that everyone’s on board.
Bridger Pennington 32:47
Yep, yep. 100%. Couldn’t agree more. Yeah, clear. I mean, clear communication is massive with investors. Keep them in the loop. It’s usually the guy, they then stop answering phone calls, then there’s Let’s investigate. And then oh, man, this this person is stolen money, whatever. It’s anyways, I could go on and on. But yeah, no rent the right way. Just do the right thing. And you’ll be great. And that’s actually the best. It’s one of the best business models on planet Earth. And you I don’t think you should be scared the SEC just do things the right way. Yeah.
Chris Bounds 33:13
So what what does that process look like starting a fund?
Bridger Pennington 33:16
Yeah, so we, we have a formula we call the fun Launch Formula. I’m sure you’ve heard of this. Being inside of our stuff. We talked about this all the time. So the four step formula launch a fund. Now to take people back a little bit, you know, what even is a fund, right? Like, what even is this term, all a fund is so when we keep throwing this these terms around all a fund is is just a pool of money, that investors put money into that pool. And then people like me, and you can draw from that pool of money and go make investments. So whenever those investments make money, they flow back to the pool of money and get split between ourselves and the investor. So for example, like you said, hey, put some money in, we’re gonna go flip a house when the House makes money, we’ll split the returns, right?
That would be a house flipping fund or a real estate fund, a private so the difference then between hedge funds, private equity, venture capital, real estate funds, debt funds, the only difference we actually launched all these types of funds, we launched 120 funds last year out of our group, which was so cool. The only difference is what they invest into. So they’re all just a pool of money. A real estate fund just buys and sells real estate, a private equity fund a pool of money, they buy and sell private ownership of businesses or private equity. So they buy, they buy restaurants, they buy casinos, they buy whatever it is they pull it together and a fund that’s privately held businesses, hedge funds, same pool of money, instead of buying private businesses, they buy public businesses or public securities, so stocks, bonds, options, forex crypto, that’s a hedge fund, a debt fund that are pulling money, they issue debt, they issue mortgages, loans, they’re actually all pretty much the same thing, which is kind of cool. So that’s kind of the realm Sorry, what was what was the question?
Chris Bounds 34:50
That’s actually important because I didn’t know that and when I was going knee deep and all the funds and waterfalls and I was also the jazz just trying to learn about what a fund is. Isn’t it I came to that conclusion was like, they’re the same thing. They have different nuances, but they’re basically the same thing. But yeah, the question is, what is the what does the process look like to start a fund? Oh, gotcha.
Bridger Pennington 35:11
Yeah. So we teach I love teaching that what’s called the fun launch formula. It’s a four step formula. This is the opposite of what you will read online. This is the like, if you go I when we first started this, by the way, we were like the there’s no one that teaches funds on blind like you go googling cash trying to find like, it’s like nobody. It’s like, either hire a lawyer and pay them $50,000 They’ll teach you. Or, you know, there’s blogs. Thanks. I was read one blog, and it was like, okay, firstly, like step one. And you can tell this blog writer had no business even, they just were writing a blog, right. And they’re just a writer. They’re not a fund manager, they just write blogs, and they were like, step one, like, hire a lawyer for 30 grand. And step two, like, try to raise some money. Step three. If it doesn’t work, we’ll shoot. But if you raise money, then you can deploy it like it was. Anyways, I was like, man, like, it’s funny enough, I saw I interviewed fund managers all over the world. And what’s funny, I started to see this theme of how they launched their funds than almost all of them, follow this four step formula, and I’ll go really quick through you guys gonna watch on YouTube, I have a whole video on it.
But the four step formula is this step number one, go and find incredible deals. And real estate, the best example So go find an incredible deal. Like, hey, we found this 35 unit apartment complex in Miami, it’s amazing. We’re gonna we’re gonna buy it for this cap rate, it’s gonna be just awesome, right? And then that deal becomes your lead investment, right? And you say, hey, you know, and later on, you’re gonna say, this is a great case study, we want to go buy 18 other properties just like this over the next two years, but lead with an incredible deal. So the best way to do this, or a great thesis or a back tested track record, like something like if you’re a trader, like we traded we backdated 100 years, we traded in our algorithm works for 100 years Right? To leave with a great deal.
And if you don’t have a great deal, and you’re not that person partner with someone who does, I we run a crypto fund. I am not an expert in crypto by any means. My two business partners are absolute phenom experts at crypto. And so what happens is we come together, I’m really good at running funds raising capital, they’re really good at crypto we come together we bring it you know a great partnership. So yeah, we’re number one step, Step one, find a great deal. Most people after they find a great deal. They’re like, Okay, let’s go hire the lawyers, right? Let’s hire lawyers to get this thing going. I always go and hold on, before you hire lawyers. Step two, go and frame this entire fund out. Okay? Because a lawyer is a very expensive teacher, they will talk slow, they are going to be methodical, they will build you 30,000 documents, and then when you go change it Oh, yeah, we’ll make amendments and they’re gonna charge another five grand, five grand five grand for each amendment, you’re gonna make or change. And all of a sudden, you’re spending $75,000 for your documents at the end of the day. That’s a that’s a pretty standard price for a fund.
Chris Bounds 37:46
If I can interject there, because I had the framework in place. Ultimately, lawyers, they’re very logical. They can only answer a question that’s asked. I mean, they don’t know what you don’t know. And you don’t know what you don’t know. So the more you know, the more you know what to ask. And the better they’re gonna be able to help you. Yeah,
Bridger Pennington 38:06
exactly. I for my last one, I walked into my lawyer’s office. I was like, Dude, I want XYZ with a drink and a side of fries. Like I knew exactly the fun and I knew all the terms I and I was like, you build by the hour, right? Hey, Bill, me by the hour. Let’s do this. It was it cost me I think, a third of what he typically costs. I think that lawyer it’s usually charges $30,000 for a fund. Mine was about 10 grand. Just because I knew all the stuff and it was so fast. We had it done in like four weeks, like super fast, he typically takes 12 to 18 weeks. So anyways, I digress. Step one, find a great deal. Step two, don’t hire a lawyer yet go and frame that deal out it was what I call so frame your fund out what’s going to be your waterfall your catch up your carried interest, your prep, are you going to rent American waterfall, European waterfall, how are you going to structure your team, your board of advisors, all that kind of stuff, put that into a pitch deck. And if you don’t know what those mean, don’t worry, we got I got YouTube videos and stuff to teach all that kind of stuff. But put that all together in a pitch deck and get it ready and frame out your fund.
And then step three go and actually pitch investors. So before you have legal don’t go and then float this around to potential investors to mentors to people in your circle, and go up to them and say like, Hey, you know, I’m think about doing a fund. I’ve got my pitch deck, can I give me 12 minutes? Let me give you my pitch. Can you give me three minutes of feedback? I know you look at a lot of deals, I would love I really respect you as a mentor, coach, whatever this person is to you. Can you give me some feedback on this fund? Would you actually invest in this and it’s gonna be a zoom call I promise it’s only 15 minutes I’d love to talk to you whenever the pitches for him and go get do these kinds of soft pitches or kind of, you know, pseudo pitches, and you’ll get actually really good feedback. And they’re either going to tell you number one, oh, this is great. I wanted to invest which is awesome.
They also even better they tell you this is terrible. I wouldn’t structure the deal that way. I wouldn’t do my fun this way. I would because you know, I don’t like it. And you go What did you like about it and you can go through and rebuild. So then what you’ll do on that so step one for I’d a great deal to frame out three, go and pitch investors. When you get feedback, go back to step two or step one and reiterate your pitch and refine it. And this is going to save you 1000s of dollars from Lloris, go refine, okay, maybe we’re going to do a one and a half percent management fee, or a two and a half, or whatever, you know, we’re gonna change our carried interest, we’re going to change how we structure our fund, it’s maybe going to be a four year fund, instead of a seven year fund, whatever it is, and then you’re gonna go back to investors, and you’re gonna try to get verbal commitments from investors, we try to get more people in a group about two to $3 million of verbal commitments, meaning, what you say is, hey, this is not a real fun, I’m just kind of testing. But if this was real, if we get this ready in the next six months, like, what would you would you actually invest this? How much would you invest? Like, what what can we put you down? And if someone says, You know what, if this was actually real, I would, I would put in, you know, a half million dollars or two and a few 1000 hours or 100,000 hours, whatever it is, you go, great. I’m going to put you down as a verbal commitment. Again, you got to read the documents and stuff when it’s done, but I’m gonna put you down for a verbal commitment for 100,000 hours, they say, great. And that gives you confidence in your team confidence in your pitch. Most funds never launch, because they don’t do this process.
Anyway, as I you guys, do I have a whole hour video on this. I’ve tried to condense it once you get the verbal commitment. So step one, find great deals to frame it out three, go and pitch investors, then and only then step four, do your legal. So at that point, you go, Okay, we’ve got a bunch of verbal commits. We were pretty solid on what we want to do our fund. Okay, Mrs. Lawyer, Mr. Lawyer, let’s do our fund. Let’s set up an LPA ppm. Let’s do all the fun stuff. And I, in my experience, it’s a lot cheaper when you have it all set up. Because you know exactly what you want and what’s going to be done. They pump the documents out, you then go back to step three, and you say, hey, remember, you know, two months ago, you said you’d put down 100,000 hours? Great. We actually have the documents, I’d love to review them with you can we look through them, okay, we’re actually doing this deal. And then you get them to verbally or hard signed into the funder now sign investors into your fund. And tada, you’ve just raised $4 million for your fund, using the fund launch formula. The last thing I’ll say is most funds never launch, which is actually okay. And they now there’s two reasons for not launching what’s good, what’s not good. If you paid $50,000, and you built a fund that no one wants, that’s a bad way to raise $50,000
Chris Bounds 42:16
Very expensive stack of paper.
Bridger Pennington 42:19
Yeah, very expensive. Stack you got there. The other way, that’s okay, I’ve actually I was going to launch three funds over the last two years, they never launched because we did step one, we thought we had a great deal. We then to step two, we went into step three, and our investor pool just hated the idea. They’re like, this is this is and we were like, oh, and then they came back. And then like, we changed some stuff. And we were like, Man, this is this is probably not a good font, you know, and we never launched, we didn’t spend any dollars, we spent probably two weeks of time. And we tested it kinda like any other business. You test your model, we tested it, we said, hey, this probably isn’t a good business. Let’s not do it. Yeah. So much headaches, so much time because we follow the fun launch formula. So it’s okay, if it doesn’t launch. Just do it in the right way. So hopefully, sorry, that was super long. Hopefully that was understandable. Oh, that’s
Chris Bounds 43:04
really good man. That probably answers because my really last question before we close this out is, what do you see, folks? What are some common mistakes you see folks either make when starting or fund or overlook in that process? And you may have just answered that. But aren’t you having any other thoughts there?
Bridger Pennington 43:24
Yeah, that was that was that right there? Yeah, that’s the biggest mistake I see as people hire lawyers too early. Additionally, they take way too long to launch. If anybody if you’re a black car and other people, I whenever you hop on a call with me. I’m like, Hey, when’s launch day? When’s the launch date? When’s the launch date? Like, when are we launching? When are we moving? When are we getting to stepped I like I push people to get to step three as quickly as possible. You can get to step three in two weeks. If you really if you really push and I want people to move and because opportunities only lasts so long. Your deals will last so long. There’s a lot of advantage of moving quickly. Most people sit for two years. Five years. Yeah, I’m gonna do a fun one day I’ll think about it. I’ve been I’ve been mulling around it.
Chris Bounds 44:03
That’s what I’m here with real estate investing. I want to invest in real estate one day.
Bridger Pennington 44:07
Yeah, it’s it’s a it’s a big one day I’ll do it. And it’s like, well, maybe when the markets perfect. And the you know, Warren Buffett calls me that day and I get I win the Powerball then I’ll start it’s like, that’s never gonna happen. The markets never those stars are never gonna align for real estate or whatever it is like, you got to just start moving. You gotta start making making stuff happen. You got to start making good deals. And that’s that’s kind of my opinion. So love it.
Chris Bounds 44:29
Love it. All right. Well, there’s a few questions that I asked everyone. So as we close this out, the first one done, you’re the youngest guest I’ve had on so the I’ll let you take this any direction you want. If you can give advice to your 20 year old self, what would that be?
Bridger Pennington 44:48
Yeah, not too, not too long in the recent past and to my 20 year old self. I think I would say you know, it’s all going to work out And I remember stressing really hard and I, I was pretty, I still am a pretty ambitious person and kid and I, you know, I’d like to do fun stuff. But I was I mean, I was I was pretty, a pretty big Hustler, and college and, and I’m in I went after. And I would just tell myself, I really stressed a lot. And that maybe that was to my success, I guess my detriment, but, I mean, I really was like, if I, if I’m not a billionaire by 30, then I’m just trash. You know, like, that was kind of the mindset I had. And, and maybe I still have a little bit about me, but it pushed me to, to work really hard and to just get great grades and have graduate, like, be great and try to be in every aspect of my wife and I. And I think I just taught myself, hey, it’s gonna work out like it’d be alright, you know, and keep that almost
Chris Bounds 45:41
like I’m not work hard, like do that. But also be okay with the process and slowing down working hard and slowing down, not slowing down isn’t necessarily paste, but in the mental pressure
Bridger Pennington 45:59
100%. And actually, this is the advice I’m giving myself right now. I literally last night, I was laying in bed, I had this kind of talk to myself. I’ve had in the last three weeks, I’ve had, I think three guests on my show that are worth at least a quarter of a billion to a billion dollars. I mean, a really high net worth individuals that are often are sitting right across making a talk to him. And all three of these gentlemen had sold their businesses for huge numbers. And what was funny is, all of them are like, Dude, we’re just we’re driven people. Because I was I’m like, why would you want to just go retire, go be on a beach, just go have fun. They’re like, it’s, it’s, there’s no, there’s no pulse to life. Like, it’s so fun to build businesses and like, make change. And like, yeah, you go sit on a beach for a month, and you get really, it’s fun for two weeks. And then you get really bored it gets because people like us are wired to just build and change and grow and do incredible things in business.
That’s your canvas. Yeah, it could be through business, it could be through philanthropy could 3d be through your children, but there’s like, people like us don’t stop moving. And if we stop, we die, you know, and I and I was thinking about this. And I the advice I give myself right now is because so we got a really generous offer to sell my business fun launch a huge, you know, eight figure offer. We have a broker right now. And we’ve we’ve looked at selling and it’s kind of fun to do the math in your head like, man, if we sold I’d have this many 10s of millions of dollars in this, you know, and I can and it was like, and then I kept thinking like for, like, for what though? So what am I going to do for the next 40 years of my career? You know, and maybe maybe it is let’s just finish the money game. And maybe I’ll you know, work on philanthropy, or I don’t know, whatever other route.
But I think for me to say I’m gonna just sit on a beach and fly my jet around and just have fun, I think gets at least the people I’ve talked to that have done it, it gets pretty old pretty fast. And they love the next challenge. And I truly love the business. I’m in it for fun launch, like our business. I love writing funds, but fun launch. So we have live events, you’ve been to some of those where we do like, I thoroughly enjoy working with entrepreneurs, I thoroughly enjoy helping people launch their funds I thoroughly enjoy, like, we do big events being on stage like speaking I’m like, if I was to sell this business and build another business, it would be exactly what I have right now. Yeah. And, and I will say about that last night and I was like, You know what? Yeah, I’d be cool to have this a big check, like at once but then I was like, I we still make good money I’m like, I’ve got plenty of money already. I’ve got you know, a good family I got a good life I got good friends, I’m like, what I should be very content with what I have very happy and grateful for what I have and then also strive for, you know, FOR MORE And for greatness and to change the world in other ways and to change impact people, my employees, like get if I can mentor and help them and I kind of had this whole thing as actually like last night or two nights ago.
And I was like, huh and it was it was kind of on the thought of enjoy the journey you know, enjoy where you’re at right now. And I That sounds so cliche but I talked to all these old billionaire people and they’re like they always talk back to like, man when I was running my business you can see the light in their eyes like it was so fun. We were flying around we were doing deals and it was like and you can tell they really miss that and I thought you know what if I can just maybe I’ll slow down just a little bit take the stress off a little bit and really enjoy what I’m doing because it really is incredible. And what I get to do every day and I think my last couple days I get a mentor and I got employees that look up to me I’ve got investors I get to serve I got big stages and we have a 2500 person event we’re doing it two months in May and Miami like I get to go and I get a chance to be on stage and hopefully impact one or two people’s lives in that group. Like what a cool opportunity and and don’t waste that for you know don’t sell sell all that for what a couple a couple of dollar bills you know and so anyways, I there’s a really good
Chris Bounds 49:42
video, but if you haven’t seen it, Russell Brunson. Put it out. And he is sitting in Tony Robbins like I guess it says like upper level inner circle. I’ve seen the video. It’s amazing where he contemplates should he sell Click Funnels. Yeah. then Tony is like, takes him through this journey mental journey of, you know, let’s, you know, how would that really change and change how you feel? So if anyone else is out there feeling that as, as an entrepreneur business owner, like, go find that video because it’ll it might add some extra clarity for where we’re at. Okay, um all right, what book or books have greatly influenced your life?
Bridger Pennington 50:27
Oh, man, I’ve got a couple actually. So I’ll say Russell Brunson. Dude, the dudes incredible. Go look him up. I’m actually in his category kings group, I paid a ton of money to be in that group with him just because I respect him as a mentor so much. And it’s his book expert secrets changed my life actually changed my life incredible book expert secrets. And then that coupled with launch, if you’ve heard launched by Jeff Walker, we launched all fun launch our whole business here we launch because of those two books. It gives you the whole they’re very actionable, they’re very roadmap like do this do this do this launch is about how to launch your business doing the PLF style Launch Formula. Like how do you do a pre launch how you t step how you drop certain promos, then how you launch a product and how you close he’s like you gotta close the cart.
Half your sales will happen when you close something out. And this is how Apple launches their products how all these big ones that launch a new car, whatever how they launch they follow this exact same formula and it was really interesting worth very worth listen on marketing those two books have have changed my life I’ve read them multiple times and I’ll just end with those two others I’ve there’s 100 other books I could go into those two to come to come to mind at least for marketing and like building an online business man those guys those are
Chris Bounds 51:40
launches a new one from me I’m gonna go check that out in the last five years what new belief behavior or habit has most improved your life?
Bridger Pennington 51:50
Oh man so what belief habit Oh, man interesting. A few come to mind I do cold plunges very rare I do I have a punch. Take my basement, I cold plunge every morning right now. Absolutely transformed and changed my life. I happen to think it’s about 40. It’s about 45 to 50 degree water every morning for about three minutes. And I breathe really deeply. I’ll tell you what, it’s hard to be depressed. When you do that. It’s hard to be low energy when you are very in the mode. Do you come out and you’re like, Let’s take off the world. You know, like, it’s, it’s a fun way to wake up and I make sure I do. Even if I’m tired. Like last night I went to I went to bed really late last night.
And I this morning, I was like, I have to do it because I need to like I gotta be I gotta show up the Christmas podcast, I gotta be here. I gotta have energy. I gotta like, you know, and that, that has changed my life. Um, I’ve been a lot more spiritual. I would say the last five years I’ve really dug into you know, God, I really, I really try to run up a business that God would be proud of if he came and saw my my dealings with other men and see what I was doing. And, and I’m a pretty deep I try to be I tried to be a better person. And so I’ll just say religion, and God has has been incredible. I’ve always been religious, but at least especially specifically, the last five years has been, I think, really good for me.
And it’s something that just drives my life and how I see the world and how I look at other individuals, I try to see them in a spiritual eye and see them in a spiritual sense. And it’s I think that sounds really cheesy and cliche and stuff but that has a that’s really translate, basking like transformed my life. So cold plunge and God, there’s the answer for you.
Chris Bounds 53:20
You might need God to do the cold plunge. But ya know, that shines through when you’re on stage and everything you do. So it’s definitely very transparent. Blast. How can people reach out to you and maybe share a couple moments about big event you
Bridger Pennington 53:36
get coming up? Yeah, so if people want to learn about fun, so two things, I run a fund right now. So you guys want to like learn about our fund. It’s ugly unicorn fund.com. Crypto fund, we’re actually doing really well in crypto, it’s been awesome. And then we also teach you about fun. So if you want to learn about funds, I’ve got like a bunch of free stuff for you guys. 100% free so I’ve got a free course on funds, like 40 videos totally free, you guys can hop in, learn about fun, just learn. Like I mentioned learning the game, it’s totally free course. We’ve got a free Facebook group and I put out tons of free content on YouTube all on funds. Now the content we put out is probably 10% of all the content that we make, we have a ton of content, like we have paid courses and we have like our top coaching group, which you’re a part of as well and you’ve seen that we have so we have other stuff there.
My goal is just if we can provide enough value for you upfront like can just teach you a ton when you’re gonna launch a fund one day I hope you remember and just give me a call make bridge and let’s like help me launch my funnel. We’ll have lawyers coming in. We’ll build it up for yet. But um, we also have we do live events. We got fund launch live coming up in May in Miami, which would be crazy. It’s like our biggest event of the year. We have 2500 fund managers coming together in Miami. We’ve got Ed my let coming to speak he’s a top five motivational speaker in the world.
We’ve got Jim Rogers, one of the most legendary investors of all time with the quantum fund with George Soros coming to speak as well and a bunch of other multi 100 million and billion dollar fund managers coming in to speak in three days. And it was it’s pretty fun. So fun launch live.com Or just all that stuff if you go to fund launch.com We help you launch your fund right so fund launch.com That’s the best way to find us. Love it.
Chris Bounds 55:07
Love it. So I went on launch live my first one last year it was great. The one the biggest takeaway because the the speakers the content that was all great the networking, phenomenal. At least it was I’m used to real estate circles. And then when I went to that circle, which I’ll think of large majority of the folks in that attended were real estate related. They just think differently. It’s on a different level. So that was that that was very powerful. So I look forward to it again, this year already got my tickets. So if you’re coming out, like say hi.
Bridger Pennington 55:43
It’s gonna be fun to see you there. I’m excited for it.
Chris Bounds 55:47
All right. Thanks so much Bridger. appreciate having you on and I’ll see you here pretty soon. Thanks for tuning in. If you got any value out of this at all, please like comment, subscribe, follow and love to hear from you. And for more real estate related content, market observations, upcoming events, you can go to invested x.com And subscribe to our weekly newsletter. I promise you won’t regret it. Thanks again.