Overcoming Adversity and Maintaining Optimism with Dr. Allen Lomax

Dr. Allen Lomax is the Organizational Psychologist in Chief and the creator and founder of Steed Talker Capital, a real estate investment company that creates financial independence for busy professionals built on solid passive real estate investment. In this episode, Dr. Lomax shares his insights on the power of positivity and how it affects your investment journey. He shares his forecast on the real estate industry for the next 18 months, his thoughts on what’s going to happen to the US economy if the dollar collapses, and his hopes for the future of real estate investing.

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Overcoming Adversity and Maintaining Optimism with Dr. Allen Lomax

Shannon Robnett  03:04

Hey, everybody, welcome back to another episode of The Real Estate Rundown today, I’ve got a fellow veteran with me on the show, I’ve had the privilege of being on his show, which was awesome. But now I actually have the master the wizard, Allen Lomax on my show. And I’m looking to dig into what history has taught both of us because we’re a couple of old dogs in this fight. And I just want to see what we’ve learned how we’ve come through this. And so guys, you’re really going to get some treats out of this. I know that Allen’s got a lot to say. And so welcome to the show, Allen.

Dr. Allen Lomax  03:41

Well, thank you, Shannon. It’s a pleasure to be here. I wouldn’t count myself as one of the wise men. But I am glad to be here with you today.

Shannon Robnett  03:50

Well, you know, Allen, one of the things that we have had the opportunity to learn I would, I would count myself with you as not really the sharpest knife in the drawer. However, when you make enough mistakes, like I’ve done in my life, you tend to learn from those. And you know, you’ve been in this game for a while we’re seeing in a market that a lot of people have gotten in real estate in the last couple of years, they haven’t seen. So why don’t you go back and tell us a little bit about your story, how you got here, what your experience has been, and then we kind of dive into some of the questions about what you see how that shaped you and how we’re moving forward.

Dr. Allen Lomax  04:25

Well, I got started back in the day, the late 1990s, essentially, I mean, I had this was before podcast, but I had been tuning into various different kinds of real estate education programs and reading various different books that, that were in a lot of ways, I think, really turned out to be fairly deceitful and that they really weren’t telling the whole entire picture of what it takes to be a real estate investor and what is involved in actually being successful in the real estate industry. But I delved into it, I put my feet into the water, essentially, I was I was teaching at the University of Guam. And the first property I bought was a property in Durango, Colorado, that was where I had lived prior to go into Guam. And so I brought this, bought this property was a raw piece of land. And I built a home there with the intention of being able to use that as a place that I could go to. So I essentially built it as a duplex, so that I could rent out a portion of it and have my house payment paid for and yet I would have a place to go to when I came back to the States. Well, that that was good and fine. And it worked out very well, it gave me a place to come to and it was paying the rent. And that was good and fine. I moved back to the states to Kingsville, Texas, and I decided that it would be a good idea to get into mobile homes. And so I purchased a rundown mobile home, had it moved to a lot in a park, I … I renovated it and then I sold my home that I was living in I sold it on contract, that’s what we were taught to do. And I did and that, that worked out well too and fine and, and I earned interest on that for a good two years. Then I got a job in western North Carolina, teaching at Western University. And, and so I then sold my mobile home, they’re in South Texas and did okay on that as well. The problem started when I came to, to North Carolina, so I purchased a very nice home and, and I immediately begin to divide that into three, to three separate dwellings. And, and was doing very well on that my payment was paid, my mortgage payment was paid because of that. So I purchased another property, divided it into a triplex and that was working fine and well, and everything was going well and fine and good. And then in 2008, things turned drastically different I, at the same time that the recession hit in 2008, I also lost my teaching job at Western. And there was no way I could sustain these two properties, even though they were paying mortgages, they certainly were not cash flowing to the degree that, that I could live off of those. And the reason that they were not is because in a from an investor perspective, even though while I had an income to sustain all that I didn’t purchase those properties at a price that would allow it to be sustained without me supplementing those incomes. And so they, I was able to hold on to, to them for a couple of years into that recession, eventually one of the properties was foreclosed. And then ultimately I was actually able to sell, sell one of the properties and to essentially sell it for a good price and with the proceeds from that, I then purchased another piece of raw property and and this is where I guess the real problems really set in, is that I, I over, I was overly optimistic in terms of what I could get for this particular spec home. And so I took everything I had in from the sale of this one particular property, which was about $100,000. I put that into the property in the development of the property, I got some private funds to complete that process. And this was long about 2016. And the real estate market at that time was still not in its full recovery, and it was still essentially in our area was still kind of limping along. Well, I was way over, over optimistic in what I could get for that particular property, and having the private funding for that they were short term loans that were coming due. And I had to pay the, the private lenders and take care of them. And so I really had to sell that property at a loss. And in terms of that, then actually had to do a refinance on my own personal property at that time, which was, which I owned free and clear, which was a very nice place to be. But I had to mortgage that to actually make these, these places satisfied. Also, at the time that I, but this was back in 2008, when I had lost my job there I had severance pay, as well as retirement pay. And so at that point in time, I also, I purchased a mobile home park. And I, I overdeveloped it and put mobile homes in there that, that cost too much. And that, that didn’t allow me to really take out of it, the kinds of cash flow that I could have, if I had left it with more modest homes, and had not over developed it. So I, I it was a it was a mobile home park in which I spent a lot of time effort and energy. And I just wanted out of it was just, it was just draining too much energy. So I sold it. And I, I sold it essentially at a loss. But I didn’t have to incur any any further debt to, to get out of that. But, so that was it. And so that brought me to the place where, where I have been focused for the last two years is actually developing my network, my capabilities to actually go into significant commercial real estate investments, rather than trying to piecemeal it together from individual places. So that is where I am today. So that’s my history, and what would you call it? Not too impressive.

Shannon Robnett  13:35

You know, but it’s, it’s always to me, it’s the people that learn from the history and change things that aren’t bound to repeat it, right. And the reality is if you have to repeat your history day in and day out, and you’re not making changes the world or the universe, or God or whatever is going to continue to put those kinds of challenges in front of you until you can handle them to get to the next level. So when you do have things like that, and you don’t learn and we’re seeing a lot of people right now in today’s market that haven’t learned anything, or are I do see a lot of people that are learning a lot. They’re taking a lot of notes, they’re making drastic changes. They’re being very active in their own rescue. And you’re seeing things are being adapted to a place where we are able to get into a bigger mindset, right? I mean, none of this came to us just because we woke up one day and said, Hey, I want $100 million real estate portfolio or I want to invest in mobile home parks, there was this learning process that came with it. And with that process, there was an obligation to us to learn from the mistakes of yesterday, in order to not repeat them in order to have a better reality of what ourselves and our investors could expect moving forward, you know, one of the things that that real estate will always show you is that it’s constantly changing, right? It is one of the most secure investments you can find, because you actually do own a real asset. But it’s always changing, interest rates are changing, cap rates are changing, things are being, being constantly in flux, rent values, all those kinds of things. So that you can really kind of see that if you’re not adaptable, and you’re not willing to take what blew up yesterday, fix it, put it back in the machine and get it to work today, until another part fails, or another issue happens, you’re really not going to do that well in real estate. So as we’re looking Allen, at the lumpy road, we have ahead of us where interest rates are a factor, cap rates are changing. A lot of people have overpaid. If you overpaid, and you’d have capital reserves, you’re gonna be okay. If you overpay don’t have capital reserves, and over promised, you’re gonna have all kinds of problems. What is it that you see looking at the forecast ahead, that gives you hope about real estate investing?

Dr. Allen Lomax  16:13

Well, this is, well, what gives me hope is the fact that this is going to be a very rocky road and a very, very, very sad road for many people. That in a very selfish way that is opening all kinds of opportunities for people like me who are wanting to purchase properties at this point in time. Because there’s so many things that are happening, the labor in… the labor is going away this summer, that’s going to cause the reset of all kinds of mortgages. And those mortgages came in at two and 3% interest rates, they’re going to have to reset at four or five and 6% interest rates. And these people, I mean, like you had mentioned, there’s so many people who are new to this industry. They didn’t prepare for that. Yeah. And the only way they’re going to get out of that is to sell short, like I’ve had to, in the past. And that’s wonderful buying opportunities. And I mean, that’s good for me good for people like you, who started positioning themselves for these, but it’s going to be very, very bad for a lot of people.

Shannon Robnett  17:37

You know, you know, Allen, one of the things that I’m seeing is, and you mentioned it selling short, I do you know, anyone that’s been in real estate for over a decade, that hasn’t sold at least a deal, a property somewhere along the way, short. I know I have.

Dr. Allen Lomax  17:54

I think, you know, I haven’t interviewed everybody in the industry. But I think probably, if these old timers are honest about the fact, you know, we all, you know, we all think we have learned a whole lot and we know a whole lot. And and we find that the best way that we learn is through hard knocks. And yes, I expect that any successful real estate investor, almost any has had to deal with that before. 

Shannon Robnett  18:25

Well, and you know, the reality is, I think some of the most creative deals I’ve ever done, are picking myself up off the floor when something unexpected come blowing in, knocked me off my feet, I now have to react, I’ve got to do something different. I’ve got to make things happen. And the reality is, if I’m not going to do that, then I’m not going to learn. And then I’m going to have to repeat this until I do but what I’m seeing and I’ve even seen where over the last couple of years, I’ve made mistakes, right? I’m not afraid to admit that. But I also have come to a place where I know that my investors expect that of me. My investors expect honesty, right? If every deal is an absolute home run, rockstar, never any issues never any bumps. Either I’m a wizard, or I’m a liar. Right? And people believe you until you give them reason not to and if you’re always always never having issues and never doing anything wrong, they’re not going to tend to believe that rosy picture all the time. Right. And so I look at a lot of this stuff and I go you know what, there’s gonna be some some real come to Jesus moments, like you said, there’ll be buying opportunities for some there’ll be learning opportunities for others, and there’ll be a lot of people that will leave the game. There’ll be a lot of people that just like they did when Tesla stock crashed just like they did with Bitcoin crashed just like they did the last time real estate crashed. There are people that get in very close to the top of the market and get out very close to the bottom of the market. And there’s a simple buying philosophy that I’ve never understood. But I’ve always learned you buy low sell high, not the other way around. But there seems to be a lot of people that are in for that kind of pain. What do you, what do you think the difference is in the mentality of the people that pick themselves up off the floor, learn from it and do it again versus the person that endures this first cycle of pain and exits?

Dr. Allen Lomax  20:28

Well, I’ve asked myself that question a lot, and not just in terms of real estate, but looking at all the hundreds of students I’ve had in my psychology classes, as you know, why are some students resilient and able to pick themselves up from very devastating circumstances and others who haven’t experienced have that don’t seem to be able to cope. And, and studying the really the science of, of positive psychology, I think we are beginning to really come to an understanding of that more so than I think we did even 20, 30 years ago. And I think the people who are able to get up and go on with their lives, they have their emotional life is intact, they know how to, to develop positive emotions, even from devastating experiences. They know how to, to find flow, they know how to immerse themselves, in experiences that are intrinsically meaningful to them. They have a sense of meaning and purpose in their life that that is larger than they are as individuals. And they celebrate their achievements, rather than beating themselves up for their failures. And finally, one of the more important things is the relationships in their lives, they bring people to them, who support them, and nurture them and care for them. And I think all five of those things are critically important to all of us. And I think that that is really what makes a difference. We’re here in this business. I mean, I just hear it all the time, you have to have a positive mindset. And I think oftentimes, they miss the point because it sounds so manipulative to me think positive, and everything’s gonna be fine. Well, when you have these five core principles in place, you don’t have to tell yourself to think positively. Because your positive thoughts emerge and grow from a well balanced life that you’ve put together. So I don’t know if that answers your question or not. But that’s…

Shannon Robnett  23:17

No, it definitely does. And, you know, I it reminded me I talked with, I was on, I had a performance coach on my podcast, and I asked her of the people that she had coached she, I believe she had over 50 people that were eight figure earners that she was currently coaching, and I asked her of those, of those 50 people. Would you say that the majority of them had had more or less adversity in their life than the average person. And her statement, hit me hard, and your statement just kind of backed it up. But her statement was that they have actually had more. But what they have had is in that adversity, they have learned, this is how you pick yourself up. This is how you dust yourself off. This is how you learn. This is how you reinvent, this is how you rearticulate, this is how you recalibrate. And this is how you reengage, and with those things, you know it really is, you know, the other thing that that we’ve also programmed everyone to do is not to fail. Right? One of my favorite books by John Maxwell is Failing Forward. Right? I love that book. Right? And and when you start to look at the principle that we look at when we go to school, me doing your psychology project totally wrong is a failure and my grade will show it that doesn’t teach me to follow instructions better. It teaches me to get right inside the box and to just do exactly what’s there not to challenge the status quo and to maybe take on a bigger aspect or a bigger thought process or, or push the boundaries of what you’re really asking for. It teaches me to stay in this very narrow space. And so when we look at how that happens in real life, that then translates to play it safe, get a job, work nine to five, get a mortgage, don’t take risks, right? Do all the things that are safe, buy the stationwagon, right? Rather than be able to live that out of the box off the hook kind of life that says, hey, I understand that I am going to fail. I am responsible for that failure. I am not excited about it. But I understand it’s coming. And out of that I’m going to learn and when I learn, I’m going to be better. And I’m going to get to where I want to go. You know, and your statement is very much in line with that. Because in that whole process, we try to avoid the pain. Not that pain is ever good. But pain brings growth. So, and I think that that’s as we go into this market that we’re in where we’re starting to see, you know, we just saw that $225 million repossession by Arbor in auction in in Houston last week, was four assets that were bought in a very short period of time between I believe, April of 2’1 and August of ’22 have already been foreclosed on. And it was very unfortunate, there’s about $60 million in investor equity that has gone. Wow. But somebody approached me and they said, hey, you know, look at that great deal that Arbor got they were able to buy those assets under market. And I turned to him and I said, Well, wait a minute, Arbor was the foreclosing agent, they were the lender. And the way that foreclosures goes that it goes out the door at what the debt is, and the debt plus $1 starts the bidding. And nobody else bid on the projects. So to me that…to you that may say, Arbor got a great deal. Arbor would have liked just $1 Just give me one more dollar and make it your problem. Nobody was willing to do that. Right? Nobody was willing to take on that, that mess of what it was because of where is… where the market is now. And so now Arbor is going to reposition that. Arbor will write down, Arbor will take losses on that. But that market has fallen so far, because people were the I got to acquire it at any cost. Because I gotta, I gotta get a door count, I gotta get a, you know, I gotta, I gotta look like I’m doing something here. And they bought an asset that they shouldn’t have, or three or four. But that asset has lost $60 million of its $300 million value or $280 million value. And it’s still not even worth what the bank repossessed it for. Right? And that’s the world we live in. And there’s a lot of people getting off the bus and getting out of the deal and vacating very quickly, because they don’t want to deal with the pain. Instead of learn from that and go, What wasn’t I looking at? What wasn’t the syndicator looking at? What wasn’t the property that I failed to see? What were the differences in what I thought versus what reality was that made this no longer a good deal that made this one fall apart? And instead of becoming a forensic scientist, and finding out and doing a post mortem and seeing what caused the crash, or just walking away and saying real estate sucks. It’s a great way to lose money. Right? What do you say to people that come to you with that attitude in this market, having experienced something similar to what just happened?

Dr. Allen Lomax  29:10

Well, the there’s another book that you probably be interested in. It’s called Simply Grit. And it’s by Angela Duckworth. And she talks about, about essentially this phenomena and that it is actually kind of a plague that we have today that we are not teaching our children to be resilient. But essentially what what you’re saying is is a repeat of 2007, 2008 in re leading up to that 2006 and even into the early parts of 2007. You’d go to the courthouse steps when there is a foreclosure there. There’d be gobs of people there bidding on these properties, the crash hit in 2008. And nobody was on the steps of those foreclosure properties. And the banks couldn’t get that $1 more above their mortgages. And the banks were taking back properties right and left. And like you said, writing those down and taking losses on those, because banks can only hold so many different assets on their books, they have to, they have to get rid of them. And when nobody pays the dollar extra, it’s, it’s on their books, and they have to act to get rid of that. So… so if people find themselves in this situation, I can tell them, I’ve been there. I’ve done that. And I know the pain and the anguish, and it’s going to hurt and it’s going to hurt for a long time.

Shannon Robnett  30:56

I still remember my first loss. Right? Yeah. I mean, in listening to you today, tell the story didn’t make it less painful. It’s just that since then, you’ve had some wins. Since then, you’ve learned some lessons. Right? Since then, you have some safeguards.

Dr. Allen Lomax  31:11

Right? So yeah, the the thing is, is learn from this mistake, and, and learn that, you know, optimism is terrific. You know, optimism expands. Pessimism always diminishes and decreases. So you have to hold on to your optimism, but be sure it is not delusional optimism.

Shannon Robnett  31:44

There are a lot of people learning that lesson right now, the difference between optimism and delusional optimism. That is that is well said.

Dr. Allen Lomax  31:52

Yes. And it’s going to be hard, you’re going to be hurting bad, it’s going to be hard to be optimistic. But learn from this, maintain your optimism. And you can come out on the other side of this stronger and better than what you went into. That’s what I would tell people.

Shannon Robnett  32:16

You know, and that’s so true. I mean, I look at where I’m at. And I look at, you know, the panic that I remember in 2007, and eight, and nine, and 10. And I remember all of those feelings, and all of those lessons that I learned in the hard knocks and the way that I did things, right, and the way that I did things wrong, those are the part of me that is not afraid of this market, right, because they’ve already been through there. Now I’ve got some other tender areas that we’re going to be working on. Right, I’ve got some other things that I don’t like to address that we’re going to be working on in 2023. Right. And I’m sure in 2024, there’s going to be some more things to work on. But it’s the embracing of that, that gives you that reality of this is the best thing I can be doing with my time, in retrospect, because I already have the problem. And I can either get through it, or I can act like it didn’t happen, or I can do quite a few different things. What do you think is the, what is what do you think is the 18 month forecast of real estate in your opinion?

Dr. Allen Lomax  33:24

Well, I think it’s gonna get a lot worse before it gets better. I think it’s I don’t think we’re going to see, a whole lot of damage for probably another six months. And I think in another six months, we’re going to start seeing a lot of tears. And I think within the next 12 months, those are going to continue and 18 months out. That’s a long way to look out. A lot of things could happen. And there’s a lot of geopolitical things going on in in the world right now. That when I’ve been talking to most real estate investors, they’re actually oblivious to what is going on on the world stage. I don’t know how many I have not had talked to I don’t think a single interviewee that has mentioned the fact that the petro dollar is going away. And what’s that going to do to the US economy it’s going to be devastating.

Shannon Robnett  34:41

And not only is the petro dollar going away our, our, our allies are a shorter list than those that are outflanking us in bricks, right. Absolutely. So we’ve also got the Fed now dollar which is the foundation for a central digital currency. Which isn’t going to help anyone. You know, we’ve got, we’ve actually got legislators that are scrambling trying to put us back on a gold standard, which, you know, that’s not going to work. Because if you can’t print it, we’re going to be problematic, right?

Dr. Allen Lomax  35:18

Yeah. It’s like closing the gate after the cattle are already out.

Shannon Robnett  35:23

Right, exactly. And then and then continuing to look this way when the cows went out that way, right. Exactly. You know, and there’s, there’s so much of that. And I don’t think we’ve ever been at a more precarious time in the world leadership position of the United States. Along with the reality that we went from, I believe our number was about $600 billion a year in interest on the on the US debt to over a trillion dollars a year at current interest rates in interest only on our current debt. And we still have lawmakers wanting to send money to everybody, you know, so as we continue to do that we’re weakening the dollar that’s no longer the petro dollar. That’s that now we have more people wanting to trade in other currencies. Do you know that right now in Russia, the number one traded currencies is the Chinese yuan. Not the dollar anymore. And that has happened in 60 days.

Dr. Allen Lomax  36:25

Yeah, because Saudi Arabia is exchanging oil in the Chinese yuan.

Shannon Robnett  36:33

And how much do we still export of our oil?

Dr. Allen Lomax  36:38

I don’t know that, do you? But I know we do export, right? Yeah, we do. We do. Yeah. 

Shannon Robnett  36:43

So why are we exporting at all?

Dr. Allen Lomax  36:46

While we’re, while we’re depleting our reserves? Yeah.

Shannon Robnett  36:50

Yeah. I mean, there’s just there’s things that don’t line up that there needs to be a complete rethink of what’s happening, because all of this stuff is hurting the US and how it is going to react, and this buying power of the dollar. And if we were to just turn inward on our thinking on our spending on everything else, and stop looking outward and stop being the world police in the world problem solver. I think a lot of our issues would definitely change. But I don’t know that politicians understand that. It doesn’t appear that they do.

Dr. Dr. Allen Lomax  37:22

Yeah, I mean, from my opinion, the leaders of our country. Now this, this is not a partisan issue. It’s on both sides of the coin. I still think we’re back in it. They still think we’re back in 1989 when the Soviet Union fell. Yeah, they’re they’re leading us exactly with that same mindset. 

Shannon Robnett  37:46

When a president like Teddy Roosevelt in office that’s, you know, ready to go out there and kick some butt when we don’t inhabit for quite some time. And I agree with you. This is not a partisan issue. I don’t think that there are two parties in our in the United States anymore without making it too political. I think there’s us in them. 

Dr. Allen Lomax  38:03

Yeah, I think you’re absolutely right. Yeah.

Shannon Robnett  38:05

So well, let’s jump back onto our topic here of real estate, because all of those things do factor in in your very cursory Yes, they do, don’t pay attention to what’s happening in the world. But if you’ve got a collapsing petro dollar, if you’ve got a collapsing value in what you carry in your hand, and I try to tell people this all the time, your three bedroom, two bath house didn’t grow a second floor. The why is it worth more, it’s not worth more, the dollar went down in value, you just have to bring me more of them to get what I have. And people have a hard time wrapping their head around that. But if you’ve got $1 that’s falling off a cliff, your best choice is to buy assets, because you’ll be able to get the same buying power, you’ll just have a much larger stack, whereas if you leave them in dollars, the size of your stack doesn’t change. And then when you go to buy a tomato, it’s now nine of them, or eggs. Right? So what do you say to people when they say, Oh, I don’t want to do real estate right now because, you know, it’s tumultuous time it’s there’s all this stuff going on and I really want to be liquid in my my funds.

Dr. Allen Lomax  39:19

I’d say the same thing you just just said, your your funds if they’re in dollars, they… I was watching a Robert Kiyosaki program the other day, and he was, uh, he was holding up the dollar bill and he said, This is toilet paper. And yeah, holding your assets in cash is, is you’re just you’re going to end up with nothing. You got to put it in hard assets. Yeah. So even though you know, and, and the and the buying opportunities are coming. Yeah, yeah.

Shannon Robnett  39:59

And they are, so, so now you’re weighing the liquidity issue of how liquid do I need to keep myself and where do I need to put that? And how do I short term manage my cash? So that I have something available in a few months? Which is a bit tricky. How are you doing that?

Dr. Allen Lomax  40:18

I’ve still got it in, in, in banks. And it’s like, Hey, I don’t like this feeling. Yeah, but I mean, the other, the other option is, is precious metals. And I have, I’ve never invested in precious metals. So it’s a whole new thing to me. So I, before I put my bank money in precious metals, I’m going to have to learn a whole lot more about about that. I have thought about doing some foreign investments, because I, like you said, the BRICs. In terms of population, in terms of countries, they far out way as to think about in terms of, of countries solidly associated with the International Monetary Fund and the World Bank, I think we’re about 14% of the overall population. We just don’t have the numbers on our side, and, and the bricks is just coming into formation. But I think that’s where I want my money.

Shannon Robnett  41:37

Well, and you know, that’s the thing. I mean, we’ve gotten so comfortable being the world leader that, you know, we’ve always just assumed that, that America, investing in America is a safe investment. And to a large degree, it still is, I mean, I wouldn’t be going in investing in the Congo or, or, you know, some of these other places that are, you know, third world terrorist hotbeds, but there are a lot of places like Portugal and Costa Rica, and, you know, places like that, that you’re hearing about, you know, Turkey and things like that, that are still solid investments. And, and yet, you’re not allowed the leverage, but you’re allowed the, the thought process that, you know, what, we’re not going to have a international conflict there anytime soon. And I own an asset. So their currency may not be necessarily stable, but the asset definitely is. Well, this is, this has been a great conversation. Allen, in closing, how can people find out more about you and where you’re at and what you’re doing what you’ve got going on in the world?

Dr. Allen Lomax  42:37

Well, they can just go to, to my websites, the best place to go, which is SteedTalker.com. And that’s steed like the horse and talker, like I’ve done way too much of that in this program, and.com. So that’s STEEDTALKER.com. They can find out more about me there. They can schedule a 15 minute phone call, talk about anything you want. And I’ll be happy to, to hear from you. 

Shannon Robnett  43:09

Awesome. Well, Allen, I do appreciate that. And I’m glad you said as much as you did, because otherwise I’m carrying a one sided conversation. And that’s really difficult on a podcast. So you’ve been a fantastic guest. You’re always welcome here and I appreciate you showing up here on the Real Estate Rundown. Guys. If you liked the program, you know where to go like, subscribe, click on the button. Let us know man, what are the topics you want to be talking about with the guests you think we should have on the show? Once again? Allen Lomax, thanks for showing up.

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About Dr. Allen Lomax:

Dr. Allen Lomax is the Organizational Psychologist in Chief and the creator and founder of Steed Talker Capital, a real estate investment company that creates financial independence for busy professionals built on solid passive real estate investment.

Through real estate investing he made a fortune then lost it all in 2007.  From the depths of loss and defeat, he has learned the art of persistent recovery to rise once again like the phoenix to recreate all that was lost.  He often reflects that the worst days of our lives can often be the best as they can be our greatest teachers.