Please reach out to Paul Montelongo on Linkedin

Please reach out to Letitia Reyna-Montelongo on Linkedin

Please reach out to Kristy Kerns on LinkedIn

Check out StatusJet HERE

Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.

Rey Treviño [00:00:00] Real estate, mentoring and networking. We’re excited to bring back two amazing experts in all three of these fields on this episode of The Crude Truth.

Narrator [00:00:10] In 1901, at Spindletop Hill near Beaumont, the future of Texas changed dramatically. As, like a fountain of fortune, thousands of barrels of oil burst from the earth towards the sky. Soon, Detroit would be cranking out Model TS by the millions and America was on the move. Thanks to the black gold being produced in Texas, now, more than a century later, the vehicles are different, but nothing else has truly changed. Sure, there may be many other alternative energy sources like wind and solar and electric. But let’s be honest. America depends on oil and entrepreneurs. And if the USA is truly going to be independent, it has to know the crude truth.

Narrator [00:00:53] This episode is brought to you by LFS Chemistry. We are committed to being good stewards of the environment. We are providing the tools so you can be too. Nape Expo where deals happen. Air compressor solutions. When everything is on the line, Air Compressor Solutions is the dependable choice to keep commercial business powered up. Sandstone Group. Exec Crue. Elevate your network. Elevate your knowledge. Texas Star Alliance, Pecos country operating. Fueling our future.

Rey Treviño [00:01:27] Well, Kristy. How are you doing?

Kristy Kerns [00:01:29] I’m amazing. How are you?

Rey Treviño [00:01:30] Do you know what I feel like I’m just dumping in here. Hey. Hello, everybody out there. And thank you all for tuning in. I know I’m just up to excited today. I’m super excited. We got on. So amazing. Returning guest today. How are you feeling?

Kristy Kerns [00:01:43] I feel great again.

Rey Treviño [00:01:46] Twice. Well, good. I’m just I’m over the moon today. Bring him back today. Paul Letitia. Lots of long ago. Guys, how are y’all doing?

Paul Montelongo [00:01:58] We’re. Man, we’re doing fantastic.

Rey Treviño [00:02:00] Man. I’m just so I can’t even speak. I’m so excited that you guys are back. You guys are just doing so much right now. It’s just too awesome. Like, how are we all doing?

Letitia Montelongo [00:02:10] We’re great. We are living our best life for sure. Yeah, baby.

Paul Montelongo [00:02:13]  Oh, yeah.

Letitia Montelongo [00:02:15] You must dance.

Paul Montelongo [00:02:15] Yeah. No, I agree with you. Completely, honey.

Kristy Kerns [00:02:17] Honey in there?

Letitia Montelongo [00:02:22] Yeah. Now things are really good. I think since last time we spoke with you, we have purchased another asset in Corpus Christi, Texas. We have 101 unit classy multifamily property that we bought, and we learned it now 60 days, about 80 days. And we and this is our second asset there. And we love Corpus Christi I mean, we I know a lot of people are like Corpus Christi, like Corpus Christi has got it going on right now.

Rey Treviño [00:02:46] I agree, I cannot disagree with that at all. With the, with the expansion in the refineries. And then of course, are building that giant, huge bridge. Just something gives even bigger tankers in there to facilitate the only gas industry side of things. IT ships will become even more of a more busy town than it was.

Paul Montelongo [00:03:05] Before in Portland. You’re. Yeah. If you’re an Elon Musk fan.

Rey Treviño [00:03:09] Oh, really?

Paul Montelongo [00:03:10] That he’s building the the plant down there to build batteries for Tesla. The lithium battery.

Letitia Montelongo [00:03:14] He is it’s a $1 billion project. Yeah it’s 20 minutes from.

Paul Montelongo [00:03:18] And so all of those batteries are going to go on their ships that are going to go through that channel out to the to the rest of the world. And that’s one of the reasons that he’s there, because they’re building the that big bridge. And the two work together jobs and growth and income and everything.

Letitia Montelongo [00:03:32] And this has just become the largest, land grant. Yes, in tonnage. So now the largest. Right. So they were having problems with Houston. So that’s one of the reason that they’re expanding that so rapidly. So Corpus Christi is just got so much industry going on right now.

Paul Montelongo [00:03:48] I know that they’re all in tonnage.

Rey Treviño [00:03:50] Oh

Letitia Montelongo [00:03:51] Is. The largest.

Rey Treviño [00:03:52] It’s the larger yard.

Paul Montelongo [00:03:53]  Yep yep yep yep. So there’s that. We bought that property. Yeah. we’re still working on our, self-storage. And we’ve been also working on a project for a 55 plus community.

Rey Treviño [00:04:05] Oh, really?

Paul Montelongo [00:04:06] Right. Because, you know, our population in this country is getting more seasoned.

Letitia Montelongo [00:04:11] Yes. Have you heard about this phenomena? It’s called the silver tsunami,

Rey Treviño [00:04:16] The Silver.

Letitia Montelongo [00:04:16] So this year, 41 million people in this country will turn 65 years old. This year.

Rey Treviño [00:04:23] Woah.

Letitia Montelongo [00:04:24] So those people are going to be selling their businesses. So it’s an amazing time. If you want to buy a business, right now is the time to buy them. Everybody is selling their businesses and retiring and investing in what would you think, real estate. Right. So it’s just an amazing thing that’s happening in our country right now. So we’re hyper focused on figuring that out as well as part of our portfolio. Because we have multifamily properties, we’ve had storage, and now that is such a great asset for us to either look in assisted living because either in in their took care of yourself and you’re going to go into a 55 plus community or you didn’t. And. You’re going to go to assisted living another year on things, right? Yeah. So, we are right now working with, some an investor that we had, Matt, who is a builder out of Phenix, and I’m helping him find property here in Texas. And I think that’s a really fabulous location. We hope that that deal goes through here in the next couple months. Well,.

Kristy Kerns [00:05:18] That’s interesting you say that because when we were at a family office, that’s what they talked about. Everybody’s kind of pivoting away from what they mainly and actually going to 55 and older.

Letitia Montelongo [00:05:27] Yeah. Because that’s just kind of what’s happening in our country right now. So yeah, there’s the last few years there’s been a tremendous amount of multifamily new multifamily coming online. You know, there’s a lot of apartments, right. But now people that are getting older, they don’t want to be around the families with the kids. And, you know, they want a little bit more quiet and then they want all the fun things to do. They want to go play pickleball.

Rey Treviño [00:05:49] That pickleball is taking. I mean, it’s still.

Kristy Kerns [00:05:51] I’ve. Been doing that a lot.

Letitia Montelongo [00:05:52]  We’ve been too.

Kristy Kerns [00:05:53] Stuff

Letitia Montelongo [00:05:56] We brought our paddle.

Kristy Kerns [00:05:56] I did too.

Letitia Montelongo [00:06:00] They travel with us.

Kristy Kerns [00:06:01] I love it.

Letitia Montelongo [00:06:01] I’ve Travel. Have.

Paul Montelongo [00:06:03] I resisted. Though

Rey Treviño [00:06:03] Yeah,.

Paul Montelongo [00:06:04] I resisted playing it. It seemed to.

Rey Treviño [00:06:07] It. It’s very it was, it was.

Paul Montelongo [00:06:09] And it was like.

Kristy Kerns [00:06:10] It’s fun.

Paul Montelongo [00:06:11] Yeah yeah.

Rey Treviño [00:06:12] Yeah. And you’re like okay, could be better. Like, that’s the thing about pickleball.

Paul Montelongo [00:06:15] It’s it’s competition.

Rey Treviño [00:06:17] Yeah,.

Paul Montelongo [00:06:17] Yeah. Did you like competition? It doesn’t matter when.

Letitia Montelongo [00:06:21] You do something like competition. Yeah. I know,

Rey Treviño [00:06:26] I’m excited. And it’s it’s always fun to play, and, it just continues to be like, something that everybody’s doing. And they got, like, pickleball tournaments now on the ratings.

Letitia Montelongo [00:06:35] Oh, it’s becoming the number one amenity at multifamily apartments.

Rey Treviño [00:06:38] Wow.

Kristy Kerns [00:06:39] It’s interesting. I had a friend that moved left here to go to India to run this whole big tournament. I don’t know.

Paul Montelongo [00:06:46] About her.

Kristy Kerns [00:06:47] Yeah.  I know they moved over there for that and that. Interesting.

Rey Treviño [00:06:51] That’s very interesting. So real estate obviously right now is still just amazing right.

Paul Montelongo [00:06:57] Oh yeah. Yeah. Well the thing about real estate is, is there’s plenty of opportunity.

Rey Treviño [00:07:01] Okay.

Paul Montelongo [00:07:02] So you know, we’ve been in the business a long time. So yes, we have the ability to find the opportunities with the relationships that we have and so forth. So, it’s I wouldn’t say it’s for everybody, but I would say that if you have experience and you have the the network and you know what you’re doing, it’s a fantastic time. Let me put it to you this way. We’re buying a lot in 24 and 25, in hopes that we look like rock stars in 28 and 29 and 30. Okay, to once I think if, if, if what is supposed to happen that I think is going to happen in 28, 29, 30. Yeah. From what we buy now, well, we’ll look really smart. If it does. Well, we’ll just erase this record.

Rey Treviño [00:07:41] Okay. Yeah. But. For all of those out there that do want to know about 28, 29 and 30, how can they reach you guys?

Paul Montelongo [00:07:48] Oh. Montelongo capital.

Rey Treviño [00:07:50] Yeah. We’ll get that up there now. Yeah.

Paul Montelongo [00:07:51] Thank you. Montelongo Capital. There’s all kinds of links there and everything. Our portfolio there ways to invest in. Yeah that sort of thing.

Rey Treviño [00:07:58]  Now also though you’re also mentoring right now let’s talk about that.

Paul Montelongo [00:08:02] Yeah. So this is yeah. Thank you. This has been that this has been interesting piece.

Rey Treviño [00:08:06] Yeah. Very interesting because all of a sudden you’re hanging out with college kids again and right or.

Letitia Montelongo [00:08:12] No.

Rey Treviño [00:08:12] Oh no, not college.

Paul Montelongo [00:08:16] That’s too much, but what we are. What happen.

Letitia Montelongo [00:08:19] Feels like.

Rey Treviño [00:08:19]  I don’t know.

Paul Montelongo [00:08:22] Now I’ll give you. This very short version. Right. So we’re going about our business, we’re doing the thing we’re doing and we get invited to speak conferences. Right. And as as a result of that, people of protest is like, hey, can you met Yeah. Can you coach?

Letitia Montelongo [00:08:32] It’s just a person that’s been in, you know, they they’re like doctors, but they want to do real estate, but they see what.

Paul Montelongo [00:08:38] Most of these people are, are, are high net worth. Well, they all are. They’re high net worth professional individuals not in real estate. They maybe they make a living. You know, they have their careers are in other industries, but they see, okay, real estate as a place we need to be. So help us, mentor us to get you to move from here to here. We stay. We still stay here in our careers, our professions, because this is our bread and butter. But this disposable income, this investable income, we’re going to put it in real estate. But we need to know how to do that, what to do and how to build the team and what’s a good deal, and how to find the deal and how to find the deal, all that good stuff. So that just leads to, to to multiple ways to help people with mentor. And so that’s become a real I wouldn’t say it was planned.

Letitia Montelongo [00:09:23] It was. And it just happened.

Paul Montelongo [00:09:25] But but, but but it all started. It all originated, I think from our desire to help. We like to help people. And we just started helping people. And then that became a group and then that became a bigger group. And then that team became, you know, individuals reaching out from the groups.

Letitia Montelongo [00:09:40] So we started having meetups and then we started having bootcamps. And and that’s kind of where we’re at right now.

Paul Montelongo [00:09:45] So it when it does what it does for us though, is it at least it does for me, I think same thing for Leticia. It keeps me sharp in the real estate. But it’s just like if I’m coaching you, mentoring you, teaching you, I’ve got to be doing it and I’ve got to. Be sharp and the questions that you might have or experiences you might have, I’ve already had. But the reminders keep me sharp.

Kristy Kerns [00:10:07] Yeah, of. Course.

Paul Montelongo [00:10:08] And so that’s how I found it to be a really nice side benefit.

Letitia Montelongo [00:10:12] I am always sharp, so I don’t need that, but it’s great. I enjoy it very much.

Paul Montelongo [00:10:19] It’s time for meditation.

Letitia Montelongo [00:10:21] I’m just saying. And it everybody’s got to be sharp in every day, but it’s good. So we’ve been enjoying you know. So but what’s really been interesting to it is that we have the we had our very first mastermind last year, and it was so much fun and we really enjoyed that. And, you know, we had about 40 people in Scottsdale. We’ve been wanting to do it again. And as we’ve been going through this, it seems that we’re attracting certain types of people, right? So we really have been wanting to like, hone in on that and figure that out. And the people that we’re mentoring a lot has really ended up being like Paul said, like very successful couples, not always like married couples, but partners. And it’s either a husband, wife, a father son, two guys that work together or two ladies. So we have really decided to like go all in. And so we are having we’re really focusing on like high velocity couples, so. Right.

Paul Montelongo [00:11:19] Yeah, yeah. So, with that said, we we have a, a retreat planned for November in Costa Rica.

Rey Treviño [00:11:27] Okay. Oh, wow.

Paul Montelongo [00:11:29] And this place is exquisite.

Kristy Kerns [00:11:31] Cannot wait to see the video.

Paul Montelongo [00:11:32] Yeah. So let’s put the video in here for, you know, for people to see the venue. And it’s November the 13th, 13 through 17.

Letitia Montelongo [00:11:41] It is.

Paul Montelongo [00:11:42] Okay. And it’s for it’s for high velocity couples in business. And our desire is for them to, like us to come together and reset any piece of their relationship that needs to be reset. And that could be everything from romantic to business, because we’re going to have relationship experts there. We’re going to have business experts there. We’ll do some training, obviously, ourselves, from our experience and from our, each form working together as a couple. And, you know, we think fairly successfully. So, we yeah, that’s, that’s happening.

Kristy Kerns [00:12:20] Is that’s open for everybody. Just for the people that you’re mentoring now.

Paul Montelongo [00:12:24] This is open for everyone.

Letitia Montelongo [00:12:25] But it is very intimate. So we are only having 18 couples okay. So so we’re starting first there. Yes. Okay. Okay. And it’s going to be I think it’s going to be called the Architecture of High Velocity Couples. I like that everything is going to be around. That’s like how to build that.

Paul Montelongo [00:12:43] Yeah. So we have a we have a group of, pillar foundational pillars that we’ve built our business on and our life on and our related business relationship on. So we think that everything will rest on those pillars, you know. And so, the other thing is to they will do adventures while we’re there, you know, we’re going to go into the jungle and we’re going to zipline and we’re going to go down to the beach and do a walking meditation. We’ve got what was the other thing, the iguana hunt or something like that. It was, it was.

Letitia Montelongo [00:13:12] I think, but we’ve seen crocodile, so that’s why we’re going to go and see them right now. We’re just going to go slowly, Joe. We’re going to go into the jungle and hike to the water.

Paul Montelongo [00:13:22] Okay. So we got some adventure there. Because one of the elements of our life and of course, you guys know, this is like, we work, we work hard, we work a lot, but we take time to go on adventures and do things, you know, off grid and off work and that sort of thing. So.

Kristy Kerns [00:13:38] Why have to reset yourself to find that?

Paul Montelongo [00:13:41] That’s the best way to put it. Yeah, it’s a reset. Wow. That whole reset.

Rey Treviño [00:13:44] That’s awesome.

Paul Montelongo [00:13:46] Yeah. And we think we think that this is good. So we you know we do the real estate and we do the coaching. We do the mentoring and we love that. Yeah. And we’re good at it.

Rey Treviño [00:13:54] You know you’re great at it.

Paul Montelongo [00:13:56] Thank you very much.

Rey Treviño [00:13:56] You’re good.

Paul Montelongo [00:13:57] Yeah. Thank you. And I don’t know why you said that, but thank you anyways.

Rey Treviño [00:14:02] Yeah.

Paul Montelongo [00:14:03] And but but like, I think everybody’s, you know, we’re looking for a bigger purpose, a bigger way to serve, a bigger way to help. And, you know, we’re fortunate to be in a place that we can do that. And we think that that that, you know, that’s being helpful like that. And mentoring people like that, it’s it’s only good for, for us, for society. Right. And then our, our kids will see it and our grandkids will see it. And by example, they’ll see, okay, these are people my, you know, my my people, us. They’re people that help, you know, there are people that do good things.

Kristy Kerns [00:14:38] You’re leaving a legacy for your family.

Paul Montelongo [00:14:40] That’s legacy.

Kristy Kerns [00:14:41] I love that.

Paul Montelongo [00:14:42] That’s awesome.

Rey Treviño [00:14:42] I begin with what you’re doing is I met I mean, y’all are great at the networking, the mentorships that you don’t provide. And, and y’all’s knack for the real estate game is, is unparalleled. And it’s just really amazing to watch all give back and also share your talents, because I think there’s nothing more greedy than somebody that’s good at something. Thank you. So to the sounds, if you’re great at something, you want to just share that with others. And would you two doing a Velocity Adventure weekend? I can only imagine how much fun that would be. I mean, I can’t wait. Iguanas that that’s.

Letitia Montelongo [00:15:18] Iguanas that’s.

Kristy Kerns [00:15:18] That’s not happening.

Letitia Montelongo [00:15:21] We are going to go home with a guano bag. Yeah, yeah, it’s man.

Paul Montelongo [00:15:25] Made on site.

Letitia Montelongo [00:15:26] Oh, my gosh.

Rey Treviño [00:15:27] Kind of. Got it on the stick about that.

Paul Montelongo [00:15:31] Roasted iguanas.

Rey Treviño [00:15:33] Roasted iguana, little salt from the water.

Paul Montelongo [00:15:36] Yeah. The iguana jerky.

Kristy Kerns [00:15:39] Is that that carnivore.

Letitia Montelongo [00:15:40] That’s got to be. Yeah.

Rey Treviño [00:15:41] It’s got to be. Yeah. Yeah. Right.

Paul Montelongo [00:15:43] For all I know it’s probably illegal to touch Iguana in Costa Rico.

Letitia Montelongo [00:15:50]  I think usually they’re, they’re state animal.

Paul Montelongo [00:15:52] Yeah. But anyway it’s it’s in November. That’s the best time of the year weather wise. It’s an exquisite villa. Two villas actually side by side that we have, rented. And, everything’s all inclusive and everybody gets a separate room here. It’s separate. It’s an en suite, you know, so everybody gets a separate room, and. And every single room is different. Oh. Like this. It’s it’s a it’s a great piece of architecture, by the way. When you see the footage, it’s a great piece of architecture. And even though all of the rooms are different, they all feel similar.

Kristy Kerns [00:16:23] Okay.

Paul Montelongo [00:16:24] Does that make sense?

Letitia Montelongo [00:16:26] it’s in the middle of the jungle and it’s got all glass window.

Paul Montelongo [00:16:29] Through the jungle overlook.

Kristy Kerns [00:16:35] Oh my gosh.

Paul Montelongo [00:16:35] In the right atmosphere. You know with the right goal in mind, the right training with the right group, the right network people remember these are all high velocity people. These are all high net worth people. And so there’s a similar drive and determination and goals that we will all share. Just because that is, you know, the nature of that of this program. Yeah. Of this retreat. So we’re we’re super excited.

Kristy Kerns [00:17:01] Energy is going to be powerful right now. So yeah.

Letitia Montelongo [00:17:03] I know so.

Paul Montelongo [00:17:04] And we got and.

Kristy Kerns [00:17:06] We were bringing it

Paul Montelongo [00:17:08] you know. On the way up here we were like scripting you know things okay let’s do this and let’s do this. And I’ll just tell you right now we have some cool shit. Get ready today. Yeah.

Letitia Montelongo [00:17:15] So you want to go ahead.

Paul Montelongo [00:17:17] You can if you want.

Letitia Montelongo [00:17:18] Okay. Yeah. So so, the first night.

Paul Montelongo [00:17:21] Of the.

Letitia Montelongo [00:17:22] First the first night. So we’re going to have a light party the first night, and then everybody gets their little badges. And then on the back of them, we’re gonna write something for every person that we see in them that they can bring out to share with other people.

Paul Montelongo [00:17:38] As an intention for the.

Letitia Montelongo [00:17:39] Night. You’re getting the chills, right? So we’re going to do that. And then since it’s part of the stuff that we’re doing, we’re going to be doing like a business vows. So like you have a wedding vow. So you’re going to have business deals with your partners and we’re going to be working on them. So when you leave, you have almost and you’re all going to get like a little booklet that’s got all your stuff that you’ll be working on. So you’ll have like your Bible or your business, but you’ll have your vows to each other so that you can really have extreme integrity and build love and have like an amazing business together based on what you do that weekend. Oh, so.

Paul Montelongo [00:18:15] It’s been, you know, you guys know our journey. You know how we met. And you know, we’ve been together now five years, right? So, but our growth as as business partners, we didn’t plan for that, right? You know, we we we got married and we were committed to each other through marriage and through romance. Right. But then. Okay, now we’re now we’re building this business together. And we have been building this business together, you know, for several years. And we’re finding out, you know, there’s a lot of the similar dynamics, the commitment you make at a relationship to the commitment you make in a business relationship. Right. So we’ll parallel those and, hopefully it’ll it’ll be a success for people that that show up.

Kristy Kerns [00:18:58] I just said that at family office in New York. I was like, you know, it’s everybody on the panel is talking about relationships, relationships, but nobody is there to teach what is a real relationship, because you can have husband and wife or boyfriend girlfriend, whatever. But when it comes to business partners, it’s the same. You have values, you have this. You’re you have to constantly caught each other and it’s like it’s it’s a lifetime commitment. And so you sell or whatever, buy out. But nobody teaches nobody.

Paul Montelongo [00:19:26] So so if you’re going to be committed to.

Kristy Kerns [00:19:29] Exactly

Paul Montelongo [00:19:32] One more nugget, can I do one nugget?

Letitia Montelongo [00:19:34] Sure do a nugget.

Paul Montelongo [00:19:36] Nugget on the way. Nugget alert.

Kristy Kerns [00:19:38] Just a little nugget.

Letitia Montelongo [00:19:41] You’re watching.

Paul Montelongo [00:19:42] Oh, no. No. If you’re if you’re, you know, if you’re going to be in business with somebody, with your wife or your spouse or, your friend or a person, you know, a person of import to you, right? Most of the time we don’t sit down and go, okay, we have this relationship over here, and let’s see how it translates over to this other relationship, the business relationship, because we make a bunch of assumptions that the business relationship is going to work, and it runs parallel to the way the personal relationship works. So all we’re saying is, okay, let’s identify what those personal relationship values, goals, commitments are, and then let’s make them in harmony with our business goals and arrangements. And at least for us, it’s worked out successfully that way. Look for it in your in your personal relationship like. Like divorce is not a conversation in our relationship.

Letitia Montelongo [00:20:42] Yeah. And it’s almost like we are not or never talks about it.

Paul Montelongo [00:20:46] I. It’s like, that’s not or not.

Kristy Kerns [00:20:48] The word is not.

Paul Montelongo [00:20:49] Yes, exactly. All right. So in other words, our commitment is to work through anything and everything that happens to us, in between us. Yes.

Rey Treviño [00:20:56] Yes.

Paul Montelongo [00:20:57] So why can’t that be in the business relationship?

Kristy Kerns [00:21:00] Well, it shouldn’t be. And nobody knows it.

Paul Montelongo [00:21:02] Because you don’t sit out and you identify.

Kristy Kerns [00:21:04] Exactly.

Paul Montelongo [00:21:05] Yeah. People do their mission statement and they do their goal statement and they do their. But like the values, the the the things that keep you together in your relationship, your personal relationship should be very similar to your.

Kristy Kerns [00:21:21] Business.

Paul Montelongo [00:21:21] Your business. Yeah.

Kristy Kerns [00:21:23] 110%.

Paul Montelongo [00:21:24] Yeah. So and there’s a whole process. There’s a whole step by step, you know, and people who go through the step by steps and will walk will lead them by, you know, by the hand through those steps.

Rey Treviño [00:21:34]  to the jungle.

Paul Montelongo [00:21:36] To, to that, to looking for iguanas.

Kristy Kerns [00:21:38] But that’s where you bond during those things together and I know, are we going to make it or are we going to break it out if we’re going to go back upstairs?

Letitia Montelongo [00:21:45] Bible says they’re not quitting.

Kristy Kerns [00:21:47] I just need a time out. Give me time out. But yeah, but so you get to see each other and those hard times are struggling.

Paul Montelongo [00:21:55] We we everything that we do, we feel excited about.

Kristy Kerns [00:21:59] Sure.

Rey Treviño [00:21:59] Yeah.

Kristy Kerns [00:22:00] And people buy that, I mean come in. In here with y’all. It’s like I don’t ever want y’all to leave.

Rey Treviño [00:22:05] Was like, they wanted. It’s like, oh, hey, they’re here in that energy. It just absolutely bring it. Yeah.

Kristy Kerns [00:22:11] An adopted daughter.

Letitia Montelongo [00:22:15] Why not already have a couple. Nice, right?

Paul Montelongo [00:22:17] Yeah. Do you eat iguana.

Letitia Montelongo [00:22:19]  I will.

Kristy Kerns [00:22:19] No, but seriously, the energy that you guys bring is can just help.

Paul Montelongo [00:22:26] Oh, thanks. Yeah. So, yeah, you know, we bring a lot of energy and fire and passion that everything that we do. Because I think I’ve mentioned this before, how you do one thing is how you do everything.

Rey Treviño [00:22:35] Yes.

Paul Montelongo [00:22:35] You know, how you do one thing is how you do everything. And of all the things that we’ve done, up to this point, this what we’re about to embark on here and what we are embark on, because when we mentor, we find ourselves dipping into this anyway. Yeah. It’s not like we’re not just teaching you how to do a cap rate and interest rates. We find that we’re working with people and their interpersonal skill sets in their interpersonal relationships. So of everything that we’ve done, we we’re it’s just like super duper excited about this. That’s these are excited.

Rey Treviño [00:23:07] That is huge. And again, for you guys to be sharing all of this with people, it’s just amazing.

Letitia Montelongo [00:23:12] It’s priceless. Yeah. And giving people a chance to be successful.

Paul Montelongo [00:23:17] I think everybody wants to be successful.

Kristy Kerns [00:23:19] Sure

Paul Montelongo [00:23:20] And there’s. Yeah. There’s some there’s some roadblocks out there. Just show me the way through the roadblocks.

Kristy Kerns [00:23:25] Exactly.

Rey Treviño [00:23:26] There’s roadblocks. And, then your mind will block you at some point. And then sometimes you just got to do it, like, I mean, you get you get nervous, and it’s like when it’s your turn, it’s your turn. But I want to brag about you guys real quick again about just the success that y’all have had in the last three years. You know, for those out there that this is the first time. See you guys. Can we talk about y’all’s real estate portfolio and just what it’s started if that’s okay.

Paul Montelongo [00:23:52] Sure. I’m happy to. Well, before we met, we, by the way, next month. We we have been married five years. All right. And so. Yeah. Good. Hey. Congratulations.

Letitia Montelongo [00:24:03] I’ll take all that credit.

Paul Montelongo [00:24:08] So, yeah, we met, and then ten months later, we were married. And prior to us, you know, meeting. I had been in real estate a long time, obviously. And then during the pandemic. Heard of that she. Yeah, there was that thing out there. There was a pandemic. I was mentoring people, and she heard me on my zoom every, every week. And she heard me mentoring these people. She’s like, hey, you need to teach me how to do this. And so this was how I was pandemic been in about three years ago. Four years. Four years. Yeah. Okay. So then we I did and just immediately when I say immediately, I think it was within two months she found our first property together, $5 million property. We sold it 16 months later for $7.5 million. Okay. So it was a success. Yeah. The first property she located for us. And then since then, we went on a buying spree and an investment spree, and now we’re up to about $70 million worth of assets. Seven, seven properties. And, we have a couple of others that we haven’t discussed. We have a couple of others that we have accepted offers on. So we’ll be moving on those fairly soon. So very, very soon will be approaching $100 million from the property. And you know, that’s just it’s just been a lot of work and dedication and commitment. Yeah.

Rey Treviño [00:25:21] I mean, again, I just wanted to highlight that again.

Paul Montelongo [00:25:24] Thank you.

Rey Treviño [00:25:24] Because you guys success has been nothing but this up and y’all aren’t afraid to embrace it. I think that’s something else with success that you do have to embrace it. If you truly enjoy the ride as you as I would say. But you guys are just living amazingly. And it’s just again, like I Chris, you saying you guys are always just so positive and and just like you just want to covet, you know, you guys are awesome. So I just wanted to share.

Kristy Kerns [00:25:49] Bottle and up and sell it.

Letitia Montelongo [00:25:50] Yeah.

Rey Treviño [00:25:52] That’s an idea for the for the Iguana.

Paul Montelongo [00:25:54] Here’s your logo adventure logo.

Kristy Kerns [00:25:56] Exactly .

Rey Treviño [00:25:57] Iguana and going bottle it up with the deal.

Paul Montelongo [00:25:59] Iguana. The positive the positive iguana. Yeah, that sounds like a club that Cancun or something that’ll.

Letitia Montelongo [00:26:07] Oh, that’d be fun. Really?

Rey Treviño [00:26:09] Well, you know, I will say this, I want to I want to throw it back to real estate real quick. As an as we’re getting towards now, you know, we’re halfway through the year. How are you feeling for the outlook for the real estate market throughout the rest of the year and maybe even to 25, just not knowing anything else other than the way it is today.

Paul Montelongo [00:26:27] All right. So I’ve got two answers for you.

Rey Treviño [00:26:29] Okay.

Paul Montelongo [00:26:29] One, let’s throw out the election.

Rey Treviño [00:26:32] Well, yeah. You know what? Today throw that out okay.

Paul Montelongo [00:26:35] So there’s. No election. Nobody cares about the election. I think that it’s going to pretty much remain consistent for the next two years. As it is, interest rates are going to hold pretty true. Where they are, values are going to hold where they are. They’re not great, but they’re going to they’re going to kind of hold where they are. All right. So now you got the now you got the factor of the election and all bets are off. Like, like who the heck knows. And it depends on who wins. And, and and it depends on I think that not know that’s so much is depend on who wins. But it depends on the reaction of the losing side. Okay. Is what I really think okay. And so if, if the crazy if the, if the crazies come out, then our country is going to be really disrupted, you know, okay, if at some point we can figure, okay, listen, it is what it is and let’s, let’s try to press through it, which is what I hope you know, and then, then maybe things will stay somewhat consistent.

Letitia Montelongo [00:27:33] That there’s some problems at all that.

Paul Montelongo [00:27:35] I think there’s a lot of.

Letitia Montelongo [00:27:36] I agree with you.

Rey Treviño [00:27:38] That’s Cleaver’s line.

Letitia Montelongo [00:27:41] That at the same time, I feel like there’s so many Americans that are like, we’re just going to wait and we’re not going to invest and keep our money in the bank account. And we have super high inflation. So their money is becoming worth less and less and less. And what’s happening just right south of us in Mexico with their president, Mexicans are like running over here investing. We have had so many people reach out to us that to want to invest in our properties, because they’re trying to get their money out of the country, because they know that it’s going president that they have right now, they’re going to lose all their money. So if people here in the U.S don’t invest. The US doesn’t have anything left to invest in because there’s people aren’t going to be selling properties right now because they don’t want to sell for less. Yeah. So I mean, we looked we looked at 400 properties last year and we went one because none of them penciled because the sellers still want too much for what they’re worth. So I think that if you can find a good opportunity, you should invest in it. Because if not everybody in Mexico is going to beat you to it.

Paul Montelongo [00:28:40] You still you still have the underlying asset called real estate. Yeah. And they ain’t making no more earth.

Rey Treviño [00:28:47] No,

Paul Montelongo [00:28:48] So they got that old adage. Yeah. Right. So at some point the market will adjust. Correct. Stabilized and then elevate. And so can you be here so that you can be over here when it elevates. So and I think we think now’s the time to be in real estate.

Rey Treviño [00:29:08] So what do you think about the Texas bubble or the Texas trial.

Letitia Montelongo [00:29:11] Oh the trial that $21 million and go.

Paul Montelongo [00:29:13] 21 21 billion, trillion or. whatever.

Rey Treviño [00:29:16] Trillion trillion.

Letitia Montelongo [00:29:19] Well, 21 million. Oh, there.

Rey Treviño [00:29:21] Yeah, yeah.

Paul Montelongo [00:29:22] The ninth largest GDP in the world.

Paul Montelongo [00:29:25] That’s a couple.

Letitia Montelongo [00:29:26] Of million people in there.

Rey Treviño [00:29:28] And for those out there that don’t that’s DFW. You sit in San Antonio.

Paul Montelongo [00:29:32] Correct? Yeah. Correct. And then, you know, what’s not talked about is, is what’s right outside that triangle. Yeah. And how it all feeds in to it. But I mean, you know, we all love Texas. We’re from Texas, of course. But in terms of just the economics, Texas is going to continue to explode.

Rey Treviño [00:29:51] Well, guys, you know, again, I cannot thank you enough. Letitia, for those out there that are looking to connect with you guys. Aren’t interested in y’all’s adventure weekend with the iguanas. But again. How can they get Ahold of you guys?

Letitia Montelongo [00:30:06] Yeah. So if you’re interested, you can go to Montelongo Capital and there is an events tab, and you can click on there and see the registration page, and I’ll have that beautiful video that we’re going to show you guys here in a few minutes. So yeah it’s going to be very exciting though. We hope that you can make. It.

Paul Montelongo [00:30:20] To follow us on social. Both of us, you know, individually our by our names any any social because we you know, we post all of our we post our deals and we post our adventures and we post events. And.

Rey Treviño [00:30:32] You know, I want to say this to y’all posted the other day on one that you guys are already sending out revenue on some of your investment. well y’all call it grab.

Letitia Montelongo [00:30:41] Distribution.

Paul Montelongo [00:30:41] Distributions right?

Rey Treviño [00:30:42] Yes. I mean you guys are hitting it hard and y’all are already getting people. That’s awesome. Especially real estate that.

Paul Montelongo [00:30:48] There are a lot of properties right now that are not issuing distributions. And we have four that did is this did issue distributions this year already. So yeah, we’re happy about that. You know, our investors are happy about that. When our investors happy we’re even more happy.

Paul Montelongo [00:31:04] That’s true. Right. Yeah.

Rey Treviño [00:31:07] And that’s the important part. If they are happy then everybody else usually you know, what is it says if you do the right thing, everything else. And that’s that’s what I love about you guys, that y’all are always doing it the right way. So again, I just cannot thank you guys enough for coming on Kristy. These two have just been awesome, are they not?

Kristy Kerns [00:31:24] It’s amazing as always. That’s okay.

Paul Montelongo [00:31:29] Well, thanks for having us back.

Rey Treviño [00:31:30] Well, thank you

Paul Montelongo [00:31:32] We love being here with you guys.

Rey Treviño [00:31:33] First of all, thank you all so much. And we’ll have to do it again. Hopefully. Maybe before or after year. Over. Stop it.

Paul Montelongo [00:31:41] We’re ready.

Letitia Montelongo [00:31:41] I mean, maybe just so live from our summer. That would be fun. Just. Yeah. Everything’s possible that you just click your heels together.

Rey Treviño [00:31:48] Watch out. Oh, I feel like you’re cooking up some other. Something let’s talk about, though.

Kristy Kerns [00:31:52] I know that they are.

Paul Montelongo [00:31:53] Oh, yeah. For sure.

Paul Montelongo [00:31:57] Oh, man. Paul Letitia Montelongo. Thank y’all as always, Kristy. Thank you as always. Here. It’s everybody out there. Thank y’all. And we’ll see you all again on another episode of The Crude Truth.

Narrator [00:32:07] Again, the Crude Truth would like to thank today’s sponsors LFS chemistry, Nape Expo, air Compressor Solutions, Sandstone Group, Exec Crue, Texas Star Alliance, Pecos Country Operating, and Real News Communication Network.

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