TRIBE NAME
Ep4 LCF86, LLC (aka Old Dawgs)
-
Experience and learn together
-
Build wealth through ownership
Julian: KD how you doing today sir.
Julian, I'm doing great, thanks for having me. No problem. We're excited to have you today. Super excited about your story and your tribe, not just trying to tribes, you got a whole village at this point.
Julian: Before we get into your story with this just a little bit. Where are you from, how did you get started with investing, and how do you start on this journey altogether.
Kevin: I grew up in Southern California, born and raised here in sunny SoCal and went to school and and always kind of had a passion for investing, and I took an internship at a large brokerage firm my senior year in college, and I've been with that same firm for about 20 years so I've always had a passion for investing and then I went on vacation with my, my cousin's got 14 years ago, and we kind of have this brainstorming event about tribe investing. And so we've been, You know, doing this, having this concept and living this for the last 14-15 years it's been an incredible journey and it's brought me to try best and to for me my, my numerous tribes.
Julian: Yes, and let's talk about those tribes real quick I see here you have two tribes, you've got bulldogs and LC F 86 I was born in 86 By the way, there you go. It's great here I know that's why you named it that, let's talk about old dogs, it's one of the biggest tribes that is a part of tribe fest you were able to get, is it 15 tribe members all together and all on the same page, can we have 16 members of the tribe.
Kevin: And, you know, with such a large group, you would think that there'd be a lot of time to get meetings done and a lot of wasted time and it's really the opposite we have a group that is very dedicated to our tribe, and it's a large network so each of the members brings in an idea from their skill set or their expertise and we're able to bet that investment as a larger group, and as long as 70% of our members say, Hey, this is a good investment we go ahead and do it. And it's really, I think broadened my horizon in terms of investing and given me an ability to learn different areas of investing that I maybe never would have known if it wasn't for my tribe.
Julian: Yeah, I can totally see that now just for conversations sake 70% Have you ever had an investment come through that, you get just enough people to vote yes on, and they may be a convinced that other 30% successful this is a great, great idea, Or have you ever kind of imposed on these boats.
Kevin: when you have 16 people, we're gonna have different opinions right and somebody might not feel comfortable but I think the great thing about our tribe is we, we try to educate our members about the investment so at least that when they vote, they know what they're getting into, it's not, well I don't really know what this investment is but I'm gonna vote against it or for it anyway, we really put the time and effort in and tried best is a great platform that allows us to do that and share ideas and share documents review things you know through the tribe, and through the portal and, you know, members have basically there's been investments that we brought to the group that haven't been voted on that the majority the membership doesn't want to do, but overwhelmingly the investments that have been brought in our group has researched them approved them, and now they're active investments in our tribe.
Julian: Can you give some examples of some of the active investments that you guys are currently pursuing.
Kevin: Yes, so we own a portion of two apartment complexes in Glendale, California, very successful one of the investments just did a refinance, and there was a special distribution and given to the partners of all the investors. So that was really a nice win for us and even through the pandemic, you know, we were nervous because, you know, real estate has been a tough place to be, you know, during the the COVID, our, our group and and the due diligence we did with the investments, really helped us as we got into a really secure investment with a with a, you know, a very prominent Real Estate Group. And so that's been very successful. We made investments in Bitcoin, which is very exciting to in cryptocurrency. And then finally we invested in a startup. And so, you know, we really have a broad diversified portfolio of investments and we carry cash in our account as well.
Julian: I love that. I love that and I just wanted to hammer down on one thing that he said last night interview. Can you explain a little bit how being a part of the tribe, gives you courage to invest in things that maybe you wouldn't have encouraged to do before.
Kevin: Absolutely. So, the best part about tribe investing Julian is that it's when you're with a group of people like minded and focused on a goal. It gives you competence to maybe do something that you wouldn't enjoy on your own because you've got, in our case 15 Other members, you know 16 In our group that are all kind of sharing that common purpose so I Bitcoin to me is very, you know, very risky and I might not do it on my own, but with my partners I feel like, you know, hey, I make an investment but it's only 116 of the total investment so there's there's a shared risk, that we, you know that we have with our group so that's been a real positive thing, I think the overwhelmingly of feedback we get from our members is that this is something that they probably wouldn't be doing on their personal investing, but because it's through the tribe they feel more competent to do it with their, their members, you know, and that that makes it exciting because I would be one of those people that you know would maybe not do a certain investment on my own but but feel more comfortable to do it with the tribe. Slowly I say the numbers and I'm sure you guys are probably questioning with Bitcoin right now, right, as to the moment he went to the numbers on the last, last time we ended up with another question that you press on with the the pressure on you that you did really well, Especially when it's time.
Julian: So Kevin, there's other ways to invest with family and friends. Why did you choose tribe this instead of like the one that syndication or just kind of get people together on your own kind of figuring it out right tribe s was such an easy solution for us when we were looking at setting up our tribe.
Kevin: Just the thought of having to go meet with an attorney to have to you know go, one of the bank account, you know, at the bank to have all of these kind of things that were lingering in the air, tried best was the platform that we could do it and it was a one stop shop, we could go through try best utilize their tools and their expertise, It was very streamlined, it was easy. And when you're busy in your own profession, and you're doing and you're building your tribe, really is kind of something to, to invest in how fun. You don't want to have a lot of busy tasks that, that you would have to accomplish. You want this to be easy, focused, you know, transparent, and tried best was able to give us that platform, and we haven't looked back in fact we're looking on starting our second funding round with the LCF 86 group, and of course we're leaning on try best to execute that new funding round with with with our group and our tribe.
Julian: It's beautiful. So, we have active investors and passive investors, I think we've tried that it's turnkey like you said, give people an opportunity to invest and not necessarily have to do all of that back work that happens to forming LLC is like you said, it makes it a lot easier, especially when you get this group of people around you who believe in the goals that you have like you guys have clear goals. Something I'm even on a personal note, I'm trying to figure out, because I'm going to invest with a group of people, you will have found a group of 16 people to invest with how do you find a group of people that you, I guess, always agree with them, but a group of people that share your values and share your goals like that. Right, yes. How do you find friends.
Kevin Well this was unique. Our LCF 86 group is actually the preschool dads run my kids preschool, and we formed a great friendship, number one, and and these were like minded Family First type people that I really aligned with and and that's, that's so important. I mean, when you're investing with people, and there's money involved, trust is number one, you've got to trust who you're working with. Number two, you've got to have shared goals and vision. And number three, you have to do it in a way that's easy to navigate, and so we felt like we had the friendships we have the trust, and we needed the group to get us into our tribe and a tribe best was just a great partner for us to do that. So, once we brought Dr bass on board, we had the members that were ready to go. We then formed our group, and we haven't looked back. It's been an incredible journey for your journey we just finished our first funding round, very successful. And what's neat about it is I would say that our tribe members are more passionate about our tribe than they were when we started. So I think we've been highly successful, because now our members say wow, we've done this in four years, what is the next four 812 years gonna look like and they see the momentum is building, so I'm just so thrilled that I'm part of this that I'm president of my tribe, it's a it's a, it's a great honor to lead my tribe and to be in a position to execute on our strategy, and at the end of the day it's a, it's a business, and we made a strong business and we're excited about what the future holds. Yeah, with a second round of funding to there's no telling where the track is going to go it may grow even more important word has gotten around that as stupid as is crushing it in this field, and I'll be wanting to be part of that as I mentioned as well the more dad's a part of the program now, there is we're actually we are bringing on new members that weren't able to get in on funding round one, but but have heard the success and they want and they're like minded and they're people that we trust and are, you know, certainly people that we know and feel comfortable with, and so they're a natural fit into the new funding round for our tribe.
Julian Could you tell me a little bit about the horse racing, how you guys got involved with that, right.
Kevin: So, as I said before, the blue tribe investing you would you would you know you're more able to do things and invest in areas that you probably wouldn't do on your own and horse racing is one of those prime examples and I, first of all my wife would never let me own a resource on our own. And but by doing it through our tribe, we of course you know you you lessen the risk and you share the risk with your other partners, and we got similar to finding aligned vision. We were excited about the idea of resource, and we aligned ourselves with a group, and then we actually formed kind of a small pseudo tribe called Gatto racing, and, you know, Gatto, had the knowledge we had the passion and the money that we wanted to invest, and we, we ended up purchasing a resource called Smarvlous
He ended up winning the New Orleans handicap in the race. It was a $400,000 person. So our group got 70% of that. So it was an, it was an incredible win, and more important, it was just so fun. Yeah. Kind of novice investors in a resource and it wins a major stakes race, and, and I just remember the feeling of excitement and it was incredible. To do that, so think about it, I mean, I never would have had that experience on my own but through my tribe, we executed it, we made it happen. And we wanted a huge race it was a great, great time and then we ultimately all got together and saw our horse run in West Virginia. And another big stakes race to the Charlestown classic, and even though we didn't win that race, we still had a good showing we had a great time with our tribe, and it was again just another reason why private investing is number one so fun and number two, could really lead to great investment ideas and outcomes with your tribe.
Julian: Yeah, as you'd want in people you actually want to be around right like we have these jobs these nine to five, with our co-workers are great people. But you know, we boil it down to when you're actually at work because you have to be your own these people you may not have met them, if it wasn't for your job, whereas these, these tribes that we formed with us with our family of friends, people that we've known for years or maybe, maybe not to get somebody that you just met at a daycare function for your kids and I think that's what's also something that needs to kind of be mentioned. You don't have to have known these people for years because I'm showing my mom, who I know that things like me and I've known for a long time like to high school with him, but he doesn't disagree with me when is hard, it's hard to form those. So it's starting to make me think about different ways for me trying to maybe it is a church member that I've known for a long time and maybe it's just a Facebook group frame that I've been involved with for a long time, and we're just not in the same area, but you know, we think we think like one thing I think is really unique about your story is, you know, tribe as all the way over here to headquarters in Columbus, Ohio, and you're all out there in California, How many people in your tribe don't actually live in close things. So we're, we're pretty lucky that our group is pretty close to each other and to your original point though Juliet, you know, a couple of our tribe members, I only knew that for a couple years through the preschool, and yet, we formed a trust a partnership, and, and having that shared vision and that's what tribe best does that so unique is that when you go through the process you will you will align your tribe, so that everyone has a shared code, and it's sporadic, you know, there's not a bunch of ideas. Really, you remember to go back and say you can align your time with it kind of like break it up. Yeah, so the unique aspect of tribe best is that
Julian: Can you tell me what Jerry Buss and the Lakers have to do with this particular
Kevin: Yes. So, Dr. Jerry buss, we all know, you know, incredible owner of the Los Angeles Lakers very successful, and you know how he got his start it's a very easy story, and very very humble beginnings, you know, He formed a tribe of buddies, and they started pooling their money and started buying property on the Sunset Strip, back in like the 1950s and of course Hollywood, you know, blew up and it was this huge area that everyone was coming to, and he made a fortune on his real estate in Southern California, and then of course ended up buying the Los Angeles Lakers. And so, literally it was because of his tribe, that he was able to buy one of the greatest franchises of all time. Next to the Harlem Globetrotters, of course, but the you know the reality is is that Jerry buss probably couldn't have done it on his own, he needed his friends, and that capital pool capital to do it, and look what he was able to accomplish. And so, you know I'm a big thinker, I always I always dream big, and that article stuck with me and I shared that with my cousins, and that was really one of the reasons why we formed our first tribe over 14 years ago latitude 45 So, it's a, it's a story I'll never forget. It was very impactful for me, and of course being a Lakers fan it just makes perfect sense to tie that into my tribe, Absolutely. So do we have any lofty goals for that time we'll be buying a franchise, maybe a little bit later, you know that tribe and Julian is kind of my, my flagship tribe is living for the longest drive that I've been active in, it's with my cousins, my family members who I look to as brothers and we done so many incredible things. That was a group that we did the resource with we own investments in medical offices model homes. We just bought a home in Cape Cod, that we're able to use and enjoy in the summer, and you know we have over a million dollars of investments in that tribe that have been have been very successful, and all I do is put in my monthly contribution, that's all I do and what it's netted and resulted in is truly amazing. And so that's the power of tried best your viewpoint or capital, you find us your focus to find to find members that you have a common interest with, and really the sky's the limit.
Julian: Yeah, no I think it's, it's just right i mean I'm so happy that you're on board. I think I'm just the company Tribevest,
Kevin: I feel that this idea and concept is so powerful, and as more people form tribes and invest together for a shared goal, really, there's no limit to what people can accomplish, and so I'm excited about the tribe best team I'm excited for my tribes, and you know at this point I just you know keep my head down, work hard, and, and I'm as passionate as ever about tribe investing.
Julian: Awesome. I appreciate your time again,
More Featured Tribes
Coffee lovers in the Deep South build community through ownership.
Brian is building a strong, diverse portfolio with like-minded passive investors.
Being a female investor seemed taboo. Now she is leading the way.
Paul pools money to become a lender for his own real estate investments.
Left Field Investors is dedicated to educating and assisting like-minded investors.