Dalton Skach Joins Us On The Steve Jobs Inspired Join Up Dots Podcast
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Introducing Dalton Skach
Dalton Skach is today’s guest joining us on the Steve Jobs inspired Join Up Dots business podcast.
He is a 26-year-old real estate globetrotter who is on a mission to disrupt the commercial real estate investing industry by providing investors the chance to invest in commercial real estate through digital security offerings.
In 2017, Dalton started Gold Gate, a Commercial Real Estate Consulting Firm that sourced over $300M in off-market transactions and had an average deal size of $25M.
To make Dalton’s story even more unique, he brokered these deals while travelling to over 30 countries in Europe, the Middle East, Asia, Central America, and South America.
How The Dots Joined Up For Dalton
Now this is the part of the story that intrigued us at Join Up Dots, how do you broker deals if your are nowhere near the properties?
How do you know that the real estate you are interested in is reputable and ok to invest your cash into?
Now, Dalton is on to his next big project.
He has developed an investment portal where accredited investors can invest in commercial real estate just like they would a stock or a bond!
You can start living a life on your own terms just like our guest today has.
So when did the idea come to him, and what steps were required to get it off the ground?
And where have been the obstacles that could well have derailed him without the right mindset and persistence?
Well lets find out as we bring onto the show to start joining up dots with the one and only Dalton Skach
During the show we touched on such weighty subjects with Dalton Skach such as:
Dalton opens up about his time at Colorado University and why it gave him so much confidence to move forward into ventures unknown
We share how Dalton took his idea, and then canvassed opinion to make sure it was an idea with legs. Great idea!
Finding good people to work with you is so important to scale, and using Upwork is the gold resource for all of us. If you can find the gold.
How To Connect With Dalton Skach
You can also check our extensive podcast archive by clicking here – enjoy
Full Transcription of Dalton Skach Interview
When we’re young, we have an amazing positive outlook about how great life is going to be. But somewhere along the line we forget to dream and end up settling. Join Up Dots features amazing people who refuse to give up and chose to go after their dreams. This is your blueprint for greatness. So here’s your host live from the back of his garden in the UK. David Ralph.
David Ralph [0:25]
Yes, have a good morning. Good morning. Good morning and welcome to Join Up Dots. Thank you so much for being here and connecting with us whether it is on the show, whether it’s through the email or just listening, however, you find Join Up Dots. Thank you so much. Now, today’s guest he’s in Los Angeles at the moment and I’m in the United Kingdom. So one of us has just had our lunch and the other ones just being dragged out of bed. You can guess which one and he’s a 26 year old real estate globetrotter, who is on a mission to disrupt the commercial real estate investing industry by providing investors the chance to invest in commercial real estate through digital security or Brings. Now in 2017, he started his company gold gate, a commercial real estate consulting firm that sourced over $300 million in off market transactions and had an average deal size of 25 million. Now to make his story even more unique, he brokered these deals while travelling to over 30 countries in Europe, the Middle East Asia, Central America, and South America. And this is the part of the story that intrigued us at Join Up Dots. How do you broker deals if you’re nowhere near the properties? How do you know that the real estate you’re interested in is reputable when okay to invest your cash into? Well, he’s gonna tell us now. He’s now moving on to his next big project. And he’s developed an investment portal where accredited investors can invest in commercial real estate just like they would a stock or bond you can start living a life on your own terms, just like our guest today has. So when the idea came to him, what were the steps that he required to get it off the ground, and where been the obstacles that could well have derailed Without the right mindset and persistence well let’s find out as we bring onto the show to start joining up dots with the one and only Mr. Dalton Skach. Good morning Dalton.
Dalton Skach [2:15]
Thank you for having me. That was an excellent intro.
David Ralph [2:18]
Ah, shucks, you You deserve it Doulton. So you’ve just rolled out of bed. It’s five o’clock in the morning, six o’clock out there. Give us a flavour of what doughton does every day because we like to understand. Are you somebody that is Hustle, Hustle, Hustle? Or have you got past a hustle now and you’re more strategic.
Dalton Skach [2:37]
I’m actually very much in the hustle game right now. I’m actually raising money right now for my seed round of my business. And so every day, I’m going out meeting investors but I’m also working on the finances, the accounting, the marketing, the hiring new employees and everything that goes along with it. So right now I am extremely busy, but in the end, it will be worth it.
David Ralph [3:00]
And you totally believe is worth it and and there is a persistence that is going to make it worth it.
Dalton Skach [3:07]
Absolutely. And it’s also something that I just love to do every day and something that I believe in so it’s not too hard to roll out of bed every morning. Just work on my business, go to the gym or go on a run and yeah, meet with friends and family meet new people.
David Ralph [3:24]
It’s take you back a few years and Dalton obviously again, we’re going to talk about gold gate and and what you’re doing now. But you was at university, and I believe you went to was it Colorado? Was it Boulder, Colorado university? See, I’ve done my research. And once you come out with your degree in entrepreneurship, was it as they taught in the university or is unit entrepreneurship more about what you learn in real life? You know, what did the course actually give you?
Dalton Skach [3:54]
Actually, I think that um, when I was in university, I got my degree in entrepreneurship. I also had like a minor In real estate, and I was also part of the commercial real estate team over at the University of Colorado. And I believe that this taught me a lot more about entrepreneurship and critical thinking than, than most things because what we would do on the see real estate team, David is that for a year and a half, we would go around the entire country and go compete versus universities from all over the world, whether that was Singapore, New Zealand, or Canada, or even in the United States itself, like USC and NYU and we’d be giving these case studies for these multi multi million dollar properties, whether it was 100 million dollars or a billion dollars. And we would have to put together a presentation and think critically and find out what the best option in scenario was moving forward with these cases, and then we’d have to go and present ourselves and our case study in front of the best people in that area. So if we were at USC, we’d be presenting to The best people in real estate in Los Angeles. So that was very impactful to the point where you go out of college and you have that experience and you’re blowing away everybody in real estate that was your age or even five or six years older than you.
David Ralph [5:16]
And the key thing to that was, as we always say, it’s about surrounding yourself with the right mindset and the right people. And of course, in that university, all of you were blazing big with the fires of entrepreneurship and passion and enthusiasm. Were you aware at that moment because it sounds like it was a gift to because so many entrepreneurs out there want their own every day, they’re in an office, they’re in their back bedroom, and it just kind of slogging it on their own. Did you know it was a gift to be surrounded by those kind of people or did you just take it for granted?
Dalton Skach [5:51]
I took it for granted a little bit but it was my favourite experience in college. I mean, I had so much fun doing it that right after college I went to go work for a small boutique. brokerage and development firm and after six months, I just could not work with the managing member anymore The boss because he was just one of these older guys that couldn’t even really understand how to do his email and I said, this is not fun. This is not fun anymore. And so I said, you know what I’m gonna go do what I was doing previously in college and in college, when I would go do it and present and we would win these cases, we get a few hundred dollars or whatever it might be in a free trip to wherever we were. But when I started doing that, actually in real life and executing the payouts were more in the six figure range. So it was it was much, much better.
David Ralph [6:41]
Okay, could you have jumped from sort of college straight into that? Or was that the perfect segue for you personally, you’re obviously somebody who’s got the persistence, you’ve got the hustle, you’ve got the mindset, but did you think it would have been a stretch to go directly from A to B?
Dalton Skach [6:57]
I think that everything happens for a reason. big believer in that. And so I think that what’s happened in my life in the past and kind of the steps that I’ve taken have gotten me to where I am today and where I am today is a beautiful place.
David Ralph [7:12]
Well, you see in Los Angeles, he doesn’t burn down. It’s a very nice place to be.
Dalton Skach [7:16]
I mean, a beautiful place in life, I should say.
David Ralph [7:20]
Yeah, I think yeah, we both do in both, we have to admit it. So So let’s take you to where you are now. Okay. Because if you go over to your website, it’s all locked up. It’s all secret squirrel is relaunching this this month. Tell me what’s going on behind the scenes. What is gold gate, I know is a commercial real estate consulting firm. But how does it actually operate?
Dalton Skach [7:42]
Absolutely. So actually, what ended up happening with the business is that the reason that it’s locked up right now is we have the new website and the new platform already ready, but it’s more in demo mode right now, because what ended up happening is, as you mentioned, what I’m doing with my business is I’m taking a piece of Real Estate, turning it into a digital asset and allowing investors from all over the world to invest in that asset. And about a month ago, I was solely focusing on commercial real estate. And because the value that I’m bringing is already never happened in commercial real estate, it’s already a huge value add to our investors the ability to pull out their money out of their real estate project whenever they would like to do so. So I mean, think about all those investors in shopping centres or retail or hotels that would have done anything to pull out their money in March or April this year, but they were unable to do so. Right. Or maybe you know, just life happens sometimes. Whether it’s you want to get a new car or a new house, we want to pay for your son or daughter’s wedding. There’s a lot of different things where you just go, though the money that I invested in this real estate project, I don’t get to see the principal and appreciation until that sponsor sells the property. So it’s a very illiquid estimate. And so I was already solving that problem with my platform with what I’m doing with with technology. And but what I did is I took it one step further, David, because I was sitting here and about the starting of August. And I thought to myself, I go, Wow, this platform that I’ve created is going to be ready this month. But the distressed real estate that I want to go out and purchase, which was like multifamily properties apartments, in Texas, I said that we keep on giving stimulus checks here in the United States, and we keep on pushing back the eviction notices. And we also have our interest rates at the lowest they’ve ever been. And then we have a lot of foreign investors taking their money out of their countries and putting it into the United States. And so I wasn’t finding any distressed commercial real estate that I wanted to purchase. And so I said to myself, I said, What do I do with this platform? And I said, I need to find distressed real estate. So I thought about it and I thought about and I thought, okay, where’s the distressed real estate in my mind went to the new York City ultra luxury real estate market, which right now it is trading at a discount to what it was in 2013. And I go Wait a minute, I said we have the finest properties in the entire world. And this is probably true in London as well. We have the finest properties in the entire world. And they’re in global cities in their trading at of major, maybe 30% or higher discount for these properties that are worth $20 million or more. And I’m going Why is that? Why is nobody buying these properties? Well, the reason is, is because there’s only a few people in the world that can write a $35 million check, especially for a home that they’re probably only in for one or two or three months out of the year. So I said, What if we could buy this property and allow investors from all over the world to invest in it so that we could take advantage of the tax benefits and the appreciation and then I said let’s take it one step further.
David Ralph [10:58]
Let me just say Get Doulton there, because there’s a couple of things that I think is fundamental. First of all, you came up with an idea. And then you pivoted it, you found a niche market. And as we say, or niche or niche, or whatever way you say it. That is the way to find untapped gold. But then you had that let’s go even deeper. And what I see so many times people have bat and then wake up the next morning and go, No, it’s going to be too hard. It’s going to be too difficult. I think it’s a good idea, but I don’t think I’m going to manage it. Let me just touch on that before we move on with your story. Because who did you have to support you? How did you run it pass? How did you get that idea to ferment in your brain so that he actually started to grow and it wasn’t one of the billion trillion infinite amount of dreams but go to bed review and then wake up the next morning and then the most stupid thing you’ve ever thought Oh,
Dalton Skach [11:58]
yeah, I think a lot of entrepreneurs When they have their like aha moment, they probably just can’t sleep for two or three weeks. And that’s how it was with me where I just, I thought of it and I go, oh my gosh, if this is what I actually think it might be, this could be really, really big. And so I went out and spoke with my CPAs. And my lawyers first to make sure that what I wanted to do was plausible. And after they ensured me, it was possible. They go, yeah, it’s possible, but it’s never been done before. And I go great. Sounds great. And then I went and spoke with some professionals in the real estate industry. I spoke with wealth managers, I spoke with family offices, I spoke with family and friends. And when 95% of them just heard what I was doing, they’re just going like, Oh my gosh, yeah, what a great concept. And I go, No, it’s not a concept. I go, the platform is ready. I go, I can start doing this next week if I wanted to. Do you want to do you want to see it? And so that’s been pretty powerful because I’ve gone out and I’ve built the minimum viable product. But I but I did run it through a lot of different people, CPAs lawyers, wealth managers, all that and once it had legs, and once I was able to show people the platform and they were going, Oh my gosh, that’s when I said, Okay, I have to go on the road for the next month or two and raise this money and start this new, this new business. So
David Ralph [13:21]
now a lot of people would have gone great idea. keep it to myself. I don’t want to talk to these people. Because if I they might Nick it, I might steal my idea. And yeah, and did that go through your mind?
Dalton Skach [13:33]
No, there’s only a few people in the world. I think that well, first of all, they understand the technology but they also understand real estate and then nobody’s gone through the steps that I’ve gone through to find the perfect CPA and perfect CPA and lawyer to handle all this stuff. And there’s also not very many people that know all that stuff and that know the technology but then also I’m a 26 year old, single entrepreneur. And I don’t drink either. So I have a lot of energy and I have a lot of time on my hands. I don’t have any kids. I don’t have any wise I don’t have any responsibilities. And so I feel very confident when telling people because there’s only few people that have the ability to do so they also have the money, right? I also made a lot of money in my last in my last business, I’m able to use that. And, and so yeah, I
David Ralph [14:27]
tell you what, Doulton. If you pull this off, you won’t have much energy at all the ladies would be throwing themselves at you. You’re gonna be exhausted me.
Dalton Skach [14:38]
That’s right. That’s right. That’s never really been an issue. I’ve just been so busy just travelling all over the all over the world, that it’s hard to settle down and build a relationship like that. But uh, in the future when I have more time, absolutely. And also, one of the things I forgot to mention too, is that as you know, this means that some people have an idea and then they talk about it and they talk about it and then it dies. And then it goes away. And then three years later, they end up seeing it and somebody else ended up doing it. Yeah. And so there’s there’s very few, I think, doers in the world that say, Hey, I’m willing to take everything I have and put it on this idea to, you know, change the world. It’s never been done before. And I guess that I’m just one of those people.
David Ralph [15:20]
Yeah, great stuff. Well, let’s listen to Oprah Winfrey. And we will be back with Dalton,
Oprah Winfrey [15:24]
the way through the challenge is to get still and ask yourself, what is the next right move? not think about, Oh, I got all of this too. But what is the next right move? And then from that space, make the next right move, and the next right move, and not to be overwhelmed by it. Because you know, your life is bigger than that one moment. You know, you’re not defined by what somebody says, is a failure for you, because failure is just there to point you in a different direction.
David Ralph [15:56]
Now, I love those words, but I’m also intrigued. how so many people know the next right thing? Because in entrepreneurship more often than not, you’re just making it up as you go along. And you know, okay, you you build experience, you gain contacts, networks and all that kind of stuff. We know that. But still, there’s no rulebook is there? So how do you apply the next right thing to your idea? So that you know that you are taking a big step forward often?
Dalton Skach [16:28]
Well, that’s right. There are a lot of steps but also, there’s a lot of, as you just mentioned, with entrepreneurship, you kind of just go along with it, and you kind of not make it up as you go. But you are definitely you have to be innovative. You have to be entrepreneurial. Yeah, too, you know, things are gonna pop up that you have to address and, and you have to address it. And so I guess just every day, I’m just doing something that is directly improving my business on on some front, even if it’s one thing I was even thinking about that yesterday, I was thinking about Oh, you know, it was a lot, I guess less productive yesterday. But I still got four or five huge things done. And I said in, in usual work, I guess if you know, regular people, that would be a good day. And so, but yeah, there are going to be mistakes, there are going to be some faults but in the aim is just going to add to your experience and your education. I have
David Ralph [17:23]
days I mean, when you say Oh, it wasn’t very productive, but you did four or five things. I have days when I walked back from my office, I haven’t done anything. I might have been up here nine hours, but nothing actually comes to fruition. It’s my I’ve got a business idea at the moment. And I said to a colleague, look, what do you think about this? He went brilliant. He said, How long is it going to take you to do it? I said, I reckon I’ll be able to get it up and running in about six days. I still can’t get it up and running because not by my enthusiasm, but sort of logistics with people following through. How do you overcome that? Because that’s one of the biggest frustrations that I find, but other people don’t seem to want to work on your kind of claims zone and your your timescales. How do you sort of push through when it just becomes that muddy time, but beings are being dragged into the mud instead of whizzing through?
Dalton Skach [18:16]
Yeah, and I work with some amazing people. And that’s kind of once you find somebody that’s really, really good, they’re really special. They understand how you communicate, and they also know what you want, like my head of digital marketing. She is just fantastic. And our phone calls usually, and even our emails to them. They’re very, very quick. And we don’t have to say please, or Thank you, it’s just this, this and this. I know what to do. I’m on it. And same thing with with one of my analysts as well. And so finding, finding good people to work with you and that believe in your ideas is difficult. I’m even doing that right now with hiring my new CTO CFO and cmo but it’s been so great My top three choices that I’ve gone out to and I’ve reached out to them and, and told them about the whole idea. They put Golgotha at the top of their list, because it really is the scalability of this business is in the hundreds of trillions. And so I guess, you know, trying to get everybody in thirds is a little bit difficult. But once it’s done, it’s it’s fruitful.
David Ralph [19:23]
Now. Yeah. But finding good people is really hard, as you said, it really is hard. And I find it particularly hard because most of it nowadays is virtual. And you don’t sit there, you know, I used to when I was up in a city of London, I would always meet people and say, Come on, we’ll go off for a drink, and it just proved down their armoury. And they weren’t in an office environment, and I was sort of sitting in a more social environment. You can’t do that nowadays. So how do you recruit and know that you’ve got a good one is it just got do you test them? Give them a trial period. What do you do?
Dalton Skach [20:00]
That’s exactly right. And like I just gonna get into that. Are you familiar with Upwork?
David Ralph [20:03]
Dalton Skach [20:05]
Yeah, so Upwork has actually been like one of the biggest game changers for my business. I wish I knew about it a few years ago, it’s just fantastic where you’re able to find people in different locations and then work with them and then after a week or two I really figure out if you work well together and if not, no hard feelings, you don’t need to pay for severance or health insurance or any of that stuff. But if they turn out to be really really good you can you can bring them on later on. And so that’s what I’ve been doing with a lot of a lot of my employees is just doing freelance work. And the ones that I end up really liking given more and more business. Well, now that I’m going into this next stage in my business where I need people that are working on this 40 hours a week, but that also maybe even a little bit longer they they have more of a an emotional and financial and a real connection and incentive for this business to succeed. That’s when I’m having to go out and hire full time people aren’t on Upwork but what I’ve been able to do is, you know, do intros do face to face and do even a few kind of small little projects with him to kind of see how they think how I think and how we work together and stuff like that and put things in place so that in case maybe or one or two or three months down the road, things don’t work out, we don’t work well together that, you know, we both we both leave the situation on good terms.
David Ralph [21:26]
Now, obviously, as your business develops and moves forward, so we’ll that sort of inability to or the ability to just escape and travel the world and be sitting on a beach somewhere and probably get more and more remote. You will be dragging your office with me with you. Is that something that excites or do you long for the younger you were you could just go wherever you want and sort of make it up as you go along.
Dalton Skach [21:56]
And I think in terms of that with our with our clients as it grows, the whole plan is to have small little satellite offices all around the world and a lot of these global markets, whether it’s New York City, Los Angeles, or in London or Barcelona and a lot of these different markets, and so, I do expect myself I mean, I’ve been travelling around the world for the past two years, I haven’t had a home for really more than a couple of weeks for the past two years. And so that will be good in the future to at least maybe, you know, go to one place and it’s kind of funny just to say, but to go to one place and be there for a month because being in one place for a month, being able to sit down and put together that routine. That would be that’d be a great month for me, so that’d be exciting. But um,
David Ralph [22:39]
yeah. And then do you miss that bow? Do you miss the younger Dalton’s or like just going wherever you wanted? Probably in shorts and sandals, or, you know, was that early you you’ve moved on.
Dalton Skach [22:52]
You know, those were really good times. Those were times where I’d be on a beach in Sri Lanka. And I remember one one week where I was in Free lock I was on the beach. And I submitted offers for my clients that that total 100 $13 million. And no one knew that and no one knew the difference. And I was spending probably, you know, five or $6 a day on food and I was surfing and everything was grey and just working out and peaceful. So that was really great. But I think I’m at that point in my life now where I need to go, you know, accept these responsibilities, build this business, and then maybe in the future, maybe in my 30s or in my 40s once I’ve really built something special and large, then I can kind of go go do that again. But I’ve accepted these responsibilities. And I think in the future once I’ve done this, that that beach will be it will be a lot nicer, you know, the food will be a lot tastier and the waves will be a lot you know better as well.
David Ralph [23:49]
And the sharks will probably be bigger, and all those other things as well. So with that, right, it fascinates me because I know I run a very successful business On this side, and I know that there’s a vast amount of admin, but I don’t allow anybody else to do I don’t allow anyone to do I have accountants, but I make sure but I’ve done the paperwork and I’ve sort of moved it around and filed it and all that kind of stuff. How do you do that? When you own a laptop because you have these people on YouTube all the time, but basically sell 30% of the dream. And I always think to myself, yeah, oh, I show us the other 70% where you haven’t got internet connection. And you can’t get a room at night or your accountant screaming at you or you’ve got tax issues, or all that kind of stuff makes a business. How do you actually deal with that when you are travelling around the world
Dalton Skach [24:44]
deal with the accounting piece or the administrative piece, all of it where we
David Ralph [24:47]
put it all in as admin but admin as all sort of anything that’s boring basically door no debates that nobody teaches you or wants to talk about, but it’s so important about your business.
Dalton Skach [24:59]
Well, thanks I’m a very organised person. So I use, I use Dropbox a lot. I always stay organised. I even spend some days just even getting even more organised. That’s all I use on some of those days. But in terms of like the accounting, what was great was I was using a company called bench. And I think for every month for about, I think, like 100 or 150 bucks, they will track my revenues and expenses. But since I was doing these large deals, and these large deals would take time, you know, these large revenues wouldn’t come in for maybe six or nine months. And there probably be only one or two of them a year. So that was easy for my accountants to manage in. So pretty much all day we’re managing at the very end of the day were my expenses and telling me here’s how much how much you’re spending and what you’re spending it on. And all that stuff. But um, it’s not it’s not an easy job. But when you’re like just an entrepreneur and you’re just by yourself and maybe have like one, one or two other people working for you, it’s just something that you just have to do.
David Ralph [25:55]
I spend probably two hours a week now when I started, I used to be one of those People like, Oh, I need to get this done, I need to get this done and you’d leave it and then you’d have to spend five days doing it to try to sort it out. But in accounting, and now, Sunday morning, between eight and 10 is my two hours of just making sure I’ve got everything, invoices, outgoings, the extra everything all into one thing. And all I do is get it all up onto Google Drive, and then give my accountant a link to that folder. And he just takes it directly out of there. And it is, it is a pain. But it’s not a terrible pain. If you’re willing to just do it every week, every you know, just just get it sorted.
Dalton Skach [26:39]
Yeah, yeah, just stay organised in the first place, and then you’ll have to worry about it later.
David Ralph [26:44]
Now, let’s jump back into your real estate because one of the things that, you know, intrigued me and that’s what we mentioned in the introduction, is how do people invest in property. When they’re nowhere near the property you’re sitting on a beach insurance How do you know that it’s a reputable property that you are brokering a deal for? And it’s not something that somebody is basically sort of thrown up online. And is is a scam where we say as it is, is a scam?
Dalton Skach [27:15]
Yeah, well, there was a programme that we use in commercial real estate called costar. And so with costar provides you with all the property details, the pictures and all that stuff. And so what I was given by my clients is I was given kind of the locations they want to be in how large the deal size they wanted it to be, what kind of property they wanted. And then I would just go out and find them. And at the end of the day, my clients are spending 10s of millions of dollars on these properties. So you better believe that they’re going out themselves and seeing the property but you were able to get a lot of information and know a lot about a property just from what you were able to see online. And then we were able to do our financial analysis and speak with brokers and all that stuff and my client might even had a person go by The property itself. And also you can tell a lot by the age of the property and like what people do with it that are commercial real estate. So you get a really good expectation of what what was there. And so what we would go do is or what I would go do is I would go speak with a owner of a property ask if they would entertain an offer to sell. And then if they would, I would get all the financials and then I would personally put together the entire presentation similar to like I did in college. And then I would go share it with my, with my client with kind of a recommendation. And then they were the ones that would go out and put together a an offer and see the property and all that stuff. And so I pretty much made the introduction, I did the financials to make sure it was a good investment for them. And then they would go out and do everything else afterwards. So it was actually a really great situation because the way that brokerage usually works, it’s not like that at all.
David Ralph [28:53]
Now we’re talking about billions, millions and trillions probably here. What about sort of the the average man, he’s got a little bit of money nowadays the interest rates in bank accounts is nothing and he’s looking to sort of maximise it. Is this something that would fall within your scheme? Or is this something that is no somebody else’s game? I’m in with the the high rollers
Dalton Skach [29:17]
in terms of investing in commercial real estate,
David Ralph [29:21]
yeah. Through through your your business and gold gate and your new platform that’s coming out.
Dalton Skach [29:26]
Gotcha, gotcha. Well, we need to be an accredited investor. And since all the investors on my platform will at least have a net worth of a million dollars, probably at the very, very bare minimum. Goal gates going to be a platform where they can go on there and they can not only buy the homes that they want to live in, throughout the entire world, but they can also invest in commercial real estate and in the future, we’re bringing other things to the platform such as our in luxury cars, and stocks, bonds, crypto cash, all that stuff. So in the future on my platform, you’ll be able to see all of your investments At every point in time and every day, you’ll be able to know your net worth every minute of every day. If at any point in time you want to say you want to liquidate everything and move to Mexico, you have the ability to do so. So that’s very powerful stuff. Where you can go into your family office right now and say, Hey, can I liquidate everything? They’re gonna go? Have you been drinking? No, that’s gonna take five, five years or more?
David Ralph [30:25]
Yeah, I did. There’s a guy who I’m trying to connect with and he was on the show. And he’s a lovely guy in America. And he’s basically just sold his house, sold everything. He’s given away all his possessions and him and his four kids and his wife are just starting to travel. And the first six weeks I think is going to be a log cabin in the Georgia mountains. I think he’s got it set up. And I just look at this and I just think it’s not drinking. It just seems total sanity. You know, we’ve we’ve life as it is now. The ability to actually give away Everything but have a financial investment that’s sitting there. That’s got to be the way forward, isn’t it?
Dalton Skach [31:06]
Oh, absolutely every, everything’s going to be like this in the future. Absolutely.
David Ralph [31:13]
In the United Kingdom, we’re obsessed with buying properties. Everybody has to get a mortgage. Everybody’s trying to get up the property ladder. It doesn’t seem that way across the world where people, I think, are quite clever, really, because you rent and then you go, I’m gonna move off to San Francisco and go off and get another property and sort of change it around. We’re not like that in the United Kingdom. Would that be something that would hold you back but people are more interested in ownership, then maybe a quick liquidation?
Dalton Skach [31:46]
Or the people on this platform, they’re very interested in home ownership bias for those people that don’t want to, for instance, maybe they’re in London for only two or three months of the year, and they don’t want to pay for the 12 months of property taxes, insurance. utilities furnishing it. And all that stuff like we take care of all that. And so the RAD thing, buy a home in London and a home in Miami and a home in Beverly Hills, whatever it might be, you might have one primary residence, and then you’ll be able to have six, eight or 10 homes throughout the world, for the same price as it would have costed you to have two homes in London in Miami. And then you also have liquidity in your investment. So if at any point in time you go, Hey, I have three months in my penthouse in Miami, but you know what, I’m no longer Miami kind of guy. I’m more of a Laguna Beach kind of guy. You have the ability to go Okay, selling my three shares, right those three months. So in these three shares for, let’s say $5 million, you bought it for $4 million. A few years ago, now you’re gonna sell for $5 million. Click Click works just like a Vanguard or fidelity account. And then you go to lunch. And then you come back and somebody from around the world purchased your shares, they now own that property that you just that you just owned in You go sweet, I have $5 million sitting in my account. Now I can go buy my like, my Laguna Beach property, click click. And so now you just moved from Miami Beach to Laguna Beach and you did it in a day. And you also did it for only a 1% transaction fee. So Gone are the days that you have your broker and you say, Hey, mister broker, can you go sell my property, they go Yes, and take between six and 24 months, it’s going to cost you between two and 6%. You know, even over time, we’re going to decrease that 1% number to probably even a point where it’s at point five or point 1%. And five years is going to go by and people are gonna laugh, they’re going to go remember the days where we would list our property for sale with a broker and we would be it’d be for sale for a year and we would pay him three, you know, three or 4% and now we’re using the gold game platform and we just moved from point A to point B in a day and it cost us point one per se. It’s really going to change the ultra luxury industry, the hotel industry and also the brokerage industry in a big way.
David Ralph [34:03]
Now, obviously, you’ve got competence in issue, you’ve got a total belief, but we see, you know, that the world is littered with people that had total belief in something and it didn’t sort of take off. Let’s take you to a different planet. But Dalton scatch can’t get this off the ground and it sits there and gold gates starts getting a bit rusty. Would it bother you now with with the experience of entrepreneurship and changing things around, would you just go, okay, it didn’t work, but let’s find a way of making it work. Or would you be sitting in a bar up to your neck and tequila, drowning your sorrows and thinking, Oh, my God, where has life gone wrong?
Dalton Skach [34:43]
Yeah, you never quit. You never sit back and go, Oh, you know, life was bad to me. It was exterior forces. You always have to go out and make it work. You go out and you make it work. You make it work in and you keep on trying. So and it’s It’s all it’s all part of the story in the process. So, you know, you need to just take it with what it is. And also, those moments where you’re probably even at your bottom where you’re getting like, oh, on your last dollar, those are usually the moments where you find something inside yourself that brings you up in a big, big way. You go from rock bottom to just a trajectory of going going to the moon. And that’s happened to me before in the past as well where I’ve just hit rock bottom, and then but you keep on going and then things immediately right afterwards, they get so much better to the point that you couldn’t believe so you never, never, never quit. I love
David Ralph [35:39]
this full of hitting rock bottom, due to the fact that if you’ve got nothing left to lose, it’s total liberation. And I’ve been doing this show for seven years now. And I have heard people that hit rock bottom and then go rock bottom again and they just keep getting deeper and deeper and deeper and still bounced back And I think that the world is full of people protecting what they’ve got and not getting to that point where they think okay, I’ve got $1 I ever buy a Mac flowery or let’s see how I can make this work and and that is real liberation time thought and that kind of excites me does it you
Dalton Skach [36:21]
getting getting to that point doesn’t necessarily excite me but I but I understand the process and so I understand
David Ralph [36:27]
Dota and Dota next explanation having that sort of liberation to just go right. I’ve got nothing left to lose. You know, I’m starting afresh everybody likes new stones, stony
Dalton Skach [36:39]
totally, totally. I totally understand that and that’s kind of how I am with this business right now that I’m working on is that you know, I’m putting everything into it and I hope it all works out. I think it is all going to work out and but if you know for whatever reason something pivots or something changes or something in life happens right like we had Coronavirus or whatever happens. You’re in To just, you know, take that and say, hey, let’s let’s try something again,
David Ralph [37:04]
what I find is there’s two points of failure in a business number one is, but it’s a gut instinct idea, but people when don’t assess, and check out the marketplace and see the competition and do their research. And then secondly, there’s a point when people don’t allow others to get involved, and they hold themselves back. Now, that very first bit if it was a new business doctrine that you’re creating, and it’s something that you’re looking around going, God, this has never been tried before. Where did you do your market research? Where did you sort of actually sort of delve down and think, okay, I can see where this is going to fit.
Dalton Skach [37:44]
Yeah, and that’s actually why when I thought of this idea, it was so quick. It was so quick because I had been doing my market research for the past two months prior, and I hadn’t really even noticed it to the point where I had this new idea and I knew everybody I know, probably about 90 95% of people in this space, which is the blockchain in real estate and security token offering space all around the world, whether they’re in Tokyo or London, or New York City, whoever it might be. So I know a lot of the big players in this game and I know exactly what they’re doing. And so I spent two months doing that and also doing demos and speaking with all these people and listening to the sto market podcast, the security token show and doing all that stuff to the point where when I had this idea, I go there is nobody that is doing this, there there is nobody period that is doing this, because in order to do what I what I want to do, you have to have this technology and you have to use this kind of the security token offering of this digital security offering. And so I said, Okay, I already know that people in the digital security space, I go, well, that that’s that’s a good thing. And I also spoke with a lot of people in this space as well. Even people that are helping me build up my platform. Even even lawyers that are in the digital asset space as well. And they go, yeah, it has never been done before. All the things that I’m doing have been done before, but they’ve never been done all at the same time. Yeah. And, you know, correlation
David Ralph [39:15]
does not scale. You know, there’s a lot to do, you know, yeah, I understand. I understand what I’m doing. But there’s so much murkiness around it.
Dalton Skach [39:26]
No, it excites me. It excites me. It’s like one of the people that I think I looked up to as an entrepreneur is, is Elon Musk. And he’s one of those people that he talked to his employees, he talks people around him and he just goes, you know, he doesn’t say, you know, he says, Is it possible and if so, go make it happen. And that’s what I’ve heard from a lot of like, whether it’s my accountant or my legal or whoever it is, or my technology providers that is go like, Can we do this camp can this No, is this possible? And they go, yes, it’s possible. It’s never been done. Before I go, perfect, let’s go do it. So it actually actually really excites me.
David Ralph [40:05]
And what was the unsend? If somebody had said actually daughter now, this isn’t impossible because you always get a naysayer. Would that have knocked your competence at a time?
Dalton Skach [40:16]
No, I just go find somebody that can do it.
David Ralph [40:20]
A stranger, isn’t it because the naysayers sometimes are the ones that you actually want. They’re the ones that make you sit back and, and assess and look for stronger foundations.
Dalton Skach [40:32]
Yeah, we’ve had people to that. It just depends on like, what you ask him and when you’re asking them what their I guess, experiences, but I’ve had people that have just been a little bit confused about everything. And I’ve walked them through everything, and I’ve done all I can. But then at the end of the day, I go find somebody that can’t that does understand me and does understand what I’m doing. And that does also believe Oh, yeah, and this is totally possible. Because, you know, I have my CTO, my CPA and my lawyers and my technology providers, and they’re all just like, yeah, We can you know, we can do this right. And I and I’ve had people before that are just going, Yeah, it’s, it may be possible I just I just don’t know how we’re going to do it. So I don’t like those people that just go oh, I don’t know how we’re going to do it. So I’m just going to stop right there. If people say it’s possible, so now let’s go figure out how to do it.
David Ralph [41:18]
He’s a man who believed in those words, Steve Jobs.
Steve Jobs [41:21]
Of course, it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backwards 10 years later. Again, you can’t connect the dots looking forward, you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something, your gut, destiny, life, karma, whatever. Because believing that the dots will connect down the road will give you the confidence to follow your heart, even when it leads you off the well worn path. And that will make all the difference.
David Ralph [41:57]
Where did the dots start joining up for this idea door
Dalton Skach [42:02]
For this new idea, the dots started lining up, I think it was, it was in August, when just one thing led to another. And you know, my whole plan originally was to go out and use this platform for commercial real estate. But once I started thinking more about, and I also had to dive deep into just my mind and just go, okay, like, what do we how do we, you know, use this platform now. And so once one thing happened once I thought about the New York City ultra luxury market, I just took that and it built on itself so much to the point where it’s at now. So I think that that was that moment.
David Ralph [42:39]
So just to sort of emphasise to the listeners were talking about four weeks, three to four weeks, basically.
Dalton Skach [42:46]
Yeah, yeah. took about three. Yeah, yeah, three or four weeks to really go from the beginning of that idea to to where we are now. Of course, the
David Ralph [42:55]
dots go a lot further back. Don’t you know, don’t annoy the doctor. Keep on going back until scabby knees doughton the five year old running around looking at a different way of living Can Can you can you track that your entrepreneurial spirit back to the sort of that the little daughter,
Dalton Skach [43:13]
I think, a little doll and that’s funny.
I think even playing sports growing up, you know, I was I would play football on a team sport. And I was always a leader in that sport as well. And then even going into college. You just saw me working with teams and just being the leader and being entrepreneurial. And I even would always have ideas to start a new business even growing up. And my father is an entrepreneur, I’m an entrepreneur, my brother’s even an entrepreneur. So I think it just runs in the family. And as you as you know, probably you’ve seen a point A lot of people on this on this podcast is that a lot of the entrepreneurs you might have on here, they weren’t a students or like B students, they were like C and D students. They were just doing the bare minimum to get by They would do other stuff that they actually enjoy doing. And so that’s, I think, almost a little bit entrepreneurial as well kind of like saying, like, hey, how can I just, you know, figure out a way to get by so that I can go do something that I enjoy?
David Ralph [44:15]
Yeah, I agree. I agree totally. So just before we move you to the end of the show on the Sermon on the mic to have a one on one with your younger self, what are the next dots? Or the business? Obviously, it’s all locked up at the moment. You’ve got the plans, you know exactly what you’re doing. When you say goodbye to me today. What are you working on to move it forward?
Dalton Skach [44:36]
Yep, the next dots are finishing this raise, hiring the new people from my team. And then over the next two months, build out the new proprietary platform, which is going to be probably 1010 to 15 times better than what we have right now. And what we have right now is already pretty amazing. And then have our first property under contract in December of this year, our first closing in January or February of next year. So that’s the Probably the four to five month roadmap right there. Those are the next dots.
David Ralph [45:04]
Right stuff. Well, this is the part of the show that we’ve been leading up to. And this is the part we call the Sermon on the mic. When we send you back in time to have a one on one with your younger self. And if you could go back in time and speak to the young Dalton, what age would you want to speak to him? What advice would you give him? Well, we’re gonna find out because I’m going to play the music and when it fades, it’s your time to talk to each other. This is the Sermon on the mic.
We go with the speed of the show.
Dalton Skach [45:52]
I think I’d have to go back to my 18 year old self probably going into college and going to University of Colorado Boulder and I would probably just tell myself to go in I know it sounds a little bit cheesy, but to go make your life a masterpiece into create a story for your life and to, and that also that age No, don’t let age define you. And don’t let people say this is the way to go and kind of create your own way. And, you know, work on yourself, work with your family, travel, be happy and try to push yourself to that’s one of the things I tell my mentees that I have right now is that go and choose the things whether it’s an internship or a project or a class that you have interest in, but that is also going to be super hard and not easy to to overcome, whether it might be longer hours or somebody that’s difficult to work with. But at the very end, very end of the day you’re going to learn so much and
that’s what I have for myself.
David Ralph [47:00]
Great stuff. So what’s the number one best way that our audience can connect with you Dalton?
Dalton Skach [47:06]
The best way to connect with me would be on LinkedIn. Last name is scatch, sk CH, the new platform and website will be up and running in October of this net of next month. And yeah,
David Ralph [47:22]
I’ll just probably say LinkedIn. We will have over links on the show notes to make it as easy as possible to connect. Dalton, thank you so much for spending time with us today. joining up those dots and please come back again when you’ve got more dots to join up because I do believe that by joining up the dots and connecting our pasts is the best way to build our futures. Dalton scatch. Thank you so much.
Dalton Skach [47:43]
Thank you for having me, David.
David Ralph [47:46]
Mr. Dalton scatch. So do you think you could start a business that’s never been done before or would you go Oh, it’s never been done before. It’s either gonna be too hard or or some reason Do you have the doubts that flat in costs? We all have those downs. And every single one of us who have achieved certain levels of success have had moments when we’ve sat there and thought, I don’t know what to do. But believe me, you just move through them. And you just do stuff. It doesn’t have to be the right stuff. Like Oprah says, it just has to be stuff and been something happens. I mean, you can be up and running. At Join Up Dots. We are here, of course, to show you how to create business success, as we are doing time and time again, if you want to have an informal chat with me to just assess your business idea, or if you haven’t got any ideas and you’d love to take it forward. Then jump over to the resources page and get our business idea generator 15 part video and you can go through the step by step by steps come out with more business ideas, then you can kick a pig out if there’s such a praise, and then we can help you move forward. But until next time, you look after yourself. And I’ll see you again. Cheers. Bye.
You ready to make a full time living online, check out the amazing Join Up Dots business coaching. Hello, my name is Alan. And I’ve just completed the excellent eight week course with David.
Unknown Speaker [49:09]
Before I started working with David Actually, I had no idea at all where to start. I had
a lot of ideas about why I probably thought was going to be good business timing was able to help me through that though, to find that passion. Within literally minutes. We had a we had a business idea. And for the last seven weeks, we’ve been building on it and building on and the position I’m in now, I don’t think I’ve ever got here on my own because of
Unknown Speaker [49:36]
the amount of information that David gives the structure. He’s got the full package here and he explains it in a way that I can understand. His support is phenomenal. I feel like this is the way business is supposed to work.
David helped me understand, okay, what were the next logical steps that I should do? How can I get this up and running? So I would really recommend this as an excellent course helping You if you have an idea if you have no idea, really teasing that out and at some of the practicalities and steps to take to really launch your business whether as a full time job or as a side hustle. So it was really excellent I recommend it for anybody thinking about setting up their own business, or both. It’s an exaggeration to say David will totally save you years.
Unknown Speaker [50:19]
Thank you David for your amazing help and support which keeps on going. And we certainly couldn’t be where we are today without you so you’re author
David Ralph [50:30]
so if you would love to become my next success story and have your own life changing online business following my step by step system by tuned over many years to take away the effort and expense that others struggle with. Then come across to Join Up dots.com and book a free call with myself. Let’s get you living easy life as it’s there waiting for you to get it. That is Join Up. dots.com business coaching.
That’s the Betsy at Join Up Dots. You heard the car Now it’s time for you to start taking massive action. Create up, create your life is the only life you’ve got. We’ll be back again real soon. Join Up Dots Join Up Dots Join Up Dots, guides. Join Up Dots.