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the line. He's a legend to me in this
2:57
business. and I got to
2:59
bring him up. I can't believe
3:01
I got him on the show,
3:03
but he decided to set aside
3:05
his busy schedule to talk to
3:07
Richie McDonnell, money -making conversation masterclass.
3:09
My guess, company's mission is to
3:11
expose and create space for people
3:13
of color in commercial real estate,
3:15
elevate the level of service by
3:17
putting clients first and empower others to
3:20
expect excellence without exception.
3:23
His company has represented the
3:25
commercial real estate interests of
3:27
summer, the most notable corporations
3:29
in the country, including but
3:31
not limited to Airbnb, St.
3:34
Jude, AT &T,
3:37
ATHLEASE FOOT, Coca
3:39
-Cola, FedEx, IBM,
3:43
JP Morgan Chase, Microsoft,
3:46
Truis, and Veratex, just to name a
3:48
few. Please welcome to Monday
3:50
Making Conversations Masterclass. I hope I gave
3:52
him justice in my interview. The legendary
3:54
T. Dallas Smith. How you doing, sir? Man,
3:57
I'm doing wonderful now. I got you
3:59
on the phone brother. I'm good You
4:01
know, you know, I appreciate you taking
4:03
the time because of the fact that
4:05
You know when you when you've done
4:07
as much as you said and you
4:09
you came right to the heart of
4:11
it's about service and about consistency and
4:13
I was in communication Tells everybody a
4:15
little background about you for really getting
4:17
to the interview because I want to
4:19
talk about mentorship I want to talk
4:21
about your vision and I want to
4:23
talk about moving into 2025, how
4:25
the young people and the people who are
4:27
my age who are listening to this show can
4:29
win. Floor is yours, Dallas. Well,
4:32
we're trying first again. Thank you, man, for having
4:34
me on the show. You
4:36
know, I borrow a line from I
4:39
got him going blank on his name,
4:41
but he used to say Atlanta born Atlanta
4:43
Brea when I die be Atlanta dead
4:46
That's me, so I've been up from the
4:48
west side of Atlanta grew up off
4:50
of Simpson Road and Went to Turner High
4:52
School, E .C. Clement then Turner High School
4:54
and a family move when I was
4:56
14 the college part broke my heart But
4:58
I ended up I'm graduating from Lakeshore
5:00
High School in college part Didn't know what
5:03
I really wanted to be when I
5:05
grew up all I knew is I wanted
5:07
to make a lot of money Yes.
5:09
So in 1982, I took a Forbes magazine
5:11
and I studied what the richest people
5:13
in the world did. The
5:15
richest people in the world in 1982 did
5:17
one of four things. They were in
5:19
the real estate business, they were in the
5:21
oil business, technology, or
5:24
investments. So
5:26
again, I'm from Atlanta, oil would have
5:29
taken me to Texas. Investments
5:32
would have taken me to New York. Technology
5:34
wasn't my thing, so it left me with
5:36
real estate. I didn't want to
5:39
work on the weekends, so residential was out
5:41
of the way. I like
5:43
you, team, because you tell everybody you
5:45
gotta have standards if you have
5:47
a dream. Hey, at the end
5:49
of the day, you may not know what you
5:51
want to do, but I rest assured there's
5:53
a lot of things you know you don't want
5:55
to do. Yes. So I tell people you
5:57
don't know just back into it. So literally, that's
5:59
what I did. And My
6:01
sister would happen to be dating a guy, but I
6:03
think with Michael Hightower, a lot of people know Michael
6:05
Hightower. And I joke when I say that story, a
6:07
lot of people say he was dating my sister too.
6:10
But Michael was the youngest
6:12
politician in the United
6:14
States at one time, the
6:16
city council member in
6:18
College Park, called him, asked
6:20
him if he knew somebody, he knew somebody
6:23
who introduced me to somebody who ultimately
6:25
ended up opening the door for me to
6:27
get into commercial estate. And I have
6:29
been in this space now. We're
6:31
shot for 43 years, brother.
6:33
Wow. Let me just, let me
6:35
just, to commercial real estate,
6:37
explain the audience for different between,
6:39
you know, commercial real estate
6:41
and just, you know, homebuyer real
6:43
estate. Yeah, absolutely. So first,
6:45
and then I'll get even more
6:47
specific about the piece that
6:49
I do in commercial, but residential
6:51
is just that typical homes
6:53
or any, if it's less than
6:55
four units is considered residential.
6:57
Right. Anything over six units or
6:59
four units is commercial, but
7:01
we focus them primarily office space
7:03
industrial space and raw land
7:05
And we're on the side that
7:07
we call tenant representation or
7:09
occupier services So what that means
7:12
is Roshani if you go
7:14
to a building want to leave
7:16
some space The landlord already
7:18
has a guy in there who's
7:20
representing his interest right? We're
7:22
the people who represent your interest or
7:24
the occupier of the space I tell
7:26
the people, I tell you, you never
7:28
go in the court by yourself against
7:31
somebody else on the other side. Don't
7:33
go and do this business by
7:35
yourself. And we help, we help companies
7:37
save millions of dollars. And so
7:40
the companies that you named, obviously a
7:42
large companies and obviously they have
7:44
people are professional and be able to
7:46
do this kind of work. But
7:48
this is all we do 24 seven,
7:50
uh, 365. So,
7:52
um, But imagine
7:55
this, Mr. Smith, you
7:57
know, because you're real estate, you walk by, you
7:59
see these buildings empty? You
8:01
know, you go, man, they might want you
8:03
to just give away that space, man, you know.
8:07
You know, because you hear that, I know I thought like
8:09
that. You know saying? The building's empty. They should
8:11
be able to just let me go in there and do my
8:13
thing. So talk to the audience
8:15
about an empty building don't mean they're gonna
8:17
cut a deal for you. The empty building
8:19
means something to that person who owns that
8:21
building. And also talk about, When
8:23
you rent a space, how people can
8:26
give you some build out and all
8:28
those little things that people can look
8:30
at. Do you go from that area
8:32
of conversation to that granular, when you're
8:34
doing a commercial space rental? Absolutely.
8:36
Our job is to represent your
8:38
interest. So the first question in
8:41
terms of vacant buildings, you never
8:43
know. There are people who will
8:45
keep their buildings vacant because it
8:47
represents a tax write off or a
8:49
loss. Okay. They may
8:51
be making more money in somewhere else, and they
8:53
need to defer it. So they want to
8:55
take a loss over here because they're making a
8:57
ton of money somewhere else. So you never
8:59
know anybody's tax situation. So that could be the
9:01
case, not always, but that definitely could be
9:03
the case. But as it relates
9:06
to, there's a lot of companies, I won't name
9:08
the company, but there's one particular company that we represented.
9:10
And for a full floor
9:12
deal, call it 28 ,000
9:15
square feet. Ironically,
9:18
this group knew the person they
9:20
were trying to negotiate with. They
9:23
brought us in. And
9:25
fundamentally, the difference between the deal that
9:27
they were going to get from
9:29
their friend and the deal that we
9:31
struck, Richon, was a difference of
9:33
$3 million. So we
9:36
saved them $3 million. $3
9:38
million can buy you more equipment,
9:40
hire more employees, can do a lot of
9:42
things for a small business, for sure. So
9:47
that's what we do ultimately at
9:49
the end of the day. Our
9:52
goal is to represent your interest
9:54
and to help you save money
9:56
and make sure that you have
9:58
somebody representing everything from the rental
10:00
rate, the incentives that you'll get
10:02
up front, improvements,
10:07
all of that from the parking. You
10:09
name it, if it impacts your business, it
10:12
impacts your face, we're negotiating. Everything's
10:14
a journey, you know that T Dallas. Yeah,
10:16
no doubt about it. And they, you know,
10:19
you know. the role of mentorship, you
10:21
know, you have the firm is
10:23
the largest African -American owned pure tenant
10:25
representative commercial real estate firm in the
10:27
country. So let's go back
10:29
to, you know, when you rented
10:31
to me, you know, I got an
10:33
idea for a little restaurant around
10:35
the corner, you know, you
10:37
know, I know T Dallas, a man,
10:40
he's renting out stuff to everybody. What
10:43
mistakes or what do I need
10:45
to come to you back then? Because
10:47
right now you, you're huge and
10:49
you know, you're doing a lot of
10:51
large space, a lot of office
10:53
space and that you built that reputation.
10:55
You work with a certain type
10:57
of customer now, but this is my
10:59
show money making conversation masterclasses, small
11:01
entrepreneurs getting in the door, trying to
11:03
understand how they can become a
11:05
brick and mortar or get out of
11:07
that food truck. What advice or
11:09
how should one approach that next step?
11:11
T Dallas. Yeah. I'd say the
11:14
first thing make sure you get somebody representing
11:16
your interest. And you know, you
11:18
would come, you know, ironically, the
11:20
very first deal I ever did was
11:22
a, I was a taxi cab
11:24
company. And I remember that
11:26
deal like it was yesterday. I made
11:28
$300 off that transaction. And I say
11:30
this, you know, I say to folks
11:32
the money, but that $300 may as
11:35
well have been $3 million because it
11:37
was my very first deal. And what
11:39
I learned was the ability to have
11:41
a tax a trade to know a
11:43
skill set That can help somebody save
11:45
money and in doing that I can
11:47
make some money, right? Well, the first
11:49
thing is make sure that you get
11:51
wise counsel I don't care what the
11:53
business is and I and now we
11:55
represent a large large large companies But
11:57
we also represent some small companies too.
11:59
Okay, so if you got an idea
12:01
and you I mean it's a small
12:03
company we've got say 20 people at
12:05
this office, we've got people who are
12:07
starting, but the difference here is that
12:10
even people who are starting, they have
12:12
the resources that are around them in
12:14
this office, people who've been around the
12:16
business a very long time. We've
12:18
got more than 150 years of
12:20
experience in this office. So we want
12:22
to be able to use that
12:24
to your advantage. So making sure that
12:26
you've got your P &L together, make
12:29
sure you've got a clear vision
12:31
for the next three to five years
12:33
for what you're trying to do
12:35
for your business. And we talk about
12:37
restaurants, so that's retail space, so
12:39
office, industrial, land. I was
12:41
real big into retail early on when I
12:43
got into business. One the guys I
12:45
worked for was a guy by the name of Herman Russell. Yeah,
12:50
if you don't know him, you know, look him up. We
12:53
did a lot of retail together,
12:55
but get counsel first. Number one,
12:57
get counsel. And the other thing
13:00
that people, they think it's expensive
13:02
to hire us to do work.
13:05
But here's the little secret, the
13:07
landlords pay us. We
13:09
get paid from the landlord because it's
13:11
a marketing item that's already a line
13:13
item. And the thing is, if you
13:15
don't use it, you're not gonna
13:18
get the benefit of it. Explain it to
13:20
my audience when you say that, you know?
13:22
So if you know, I'm a person out
13:24
there looking for a space. And so I'm
13:26
worried about hiring you. Yeah.
13:28
So you drive by, you see a
13:30
sign that says, you know, call,
13:32
respond, McDonald. the least
13:34
space. And so they called
13:36
you direct. Now mind
13:38
you, you're representing that particular landlord.
13:42
They called you direct, and you're going to be
13:44
a nice guy, you know, fun to hang out
13:46
with and everything. So all of a sudden people
13:48
like you, and you know what, we're going to
13:50
do the deal with you. Now
13:53
you tell them everything except
13:55
you not representing them. You're
13:58
representing the landlord. What
14:01
happens is if they go direct with you,
14:03
you get a larger fee. Versus
14:06
it would have been the fee that would have gone
14:09
to your broker. They just get to keep it.
14:12
So that's the crazy thing about it.
14:14
It's already a line item. It's
14:16
in the marketing line item for the
14:18
landlord. So take advantage
14:20
of that. And again, I tell people
14:22
all the time, you don't have to call
14:24
T. Dallas Smith and company. I hope
14:26
you do, but you don't have to. All
14:29
I ask you to do is make
14:31
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14:33
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Future You faces some big expectations,
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19:01
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19:03
money decisions. Thankfully, today you has
19:06
Bank of America. One place with
19:08
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19:10
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19:12
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19:14
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america.com/ Future You. Welcome
19:27
back to the Money
19:29
Making Conversations Masterclass hosted
19:31
by Rashawn McDonald. Money
19:33
Making Conversations Masterclass continues
19:36
online at moneymakingconversations.com and
19:38
follow Money Making Conversations
19:40
Masterclass on Facebook, Twitter
19:42
and Instagram. His
19:45
firm is the largest African
19:47
American owned pure tenant representing
19:49
commercial real estate firm in
19:51
the country. As he
19:53
says, he's a team of go -getters at
19:55
that office. Networking is his strong point,
19:58
dedication, mentorship, support.
20:00
That's where he offers at his place. And
20:02
that's why he's been successful over the years.
20:04
He has been in the real estate business
20:06
over 40 years. Because he told
20:08
you, you know, he didn't want to go to
20:10
Texas for all. He didn't want to do
20:13
no finance up in New York. And, you know,
20:15
he wanted the weekends. He didn't want to
20:17
work on a weekend. So. home real
20:19
estate was out. So he found his dream
20:21
and he's focused on it. When you
20:23
find your dream on your focus on it,
20:25
people have to guide you down that
20:27
path. So mentorship plays a role. Can you
20:29
tell us how mentorship played a role
20:31
in your success? T Dallas Smith. Absolutely.
20:34
Well, the first guy ever went
20:36
worked for was a guy named Thomas
20:38
W. Tift with Atlanta Airstream, a
20:40
realty. He was the one that really taught
20:42
me the business. Ironically, I was on
20:44
the landlord side of it first. So I represented
20:46
all of his Properties near
20:48
the airport. He owned about 80
20:51
acres worth of property was office
20:53
industrial land and retail Love him
20:55
dearly missing. He died some years
20:57
ago. He was an older white
20:59
white guy and in fact I
21:01
was the first black anything he
21:03
had ever hired and Make the
21:05
story even more complicated. His father
21:08
was the grand dragon of the
21:10
Ku Klux Klan and tipped him
21:12
But I tell people all the
21:14
time, but God God can change
21:16
anybody's heart And sometimes you
21:18
just got to get out of your way and allow
21:20
God to do what he's going to do. And
21:22
don't judge people by anything other
21:24
than the content of their character and
21:26
allow yourself to meet them. But
21:29
he taught me the basis of the
21:31
commercial estate business. From
21:33
there I went to work for
21:35
Cushman and Wakefield. I was the first
21:37
black broker at Cushman and Wakefield
21:39
in 1989. There I got
21:41
to work with some major players. Um,
21:43
a guy by the name of Andy
21:45
Gertner was sort of the, the godfather
21:47
of tender representation in this town. He
21:49
represented the largest deals in this town.
21:51
You could, I mean, the Georgia Pacific
21:53
building was a builder's suit for him.
21:56
Um, so he was that dude. He's,
21:58
he's still around a dear, dear friend
22:00
and a, and a, and a, uh, and
22:02
a friend to T. Dahl Smith and
22:04
company and definitely resourced to me. And then
22:07
I worked for Herman Russell. Herman, uh,
22:09
started a broker's division from Herman when I
22:11
left Cushman and Wakefield. I
22:13
was still in my thirties and
22:15
hadn't really gotten coming into my
22:17
calling. When you
22:19
talk about mentorship, I
22:21
met a young man by the name of Leon
22:23
T. Benton, who wanted to get into the business. And
22:26
I told Leon T. like I told
22:28
50 people before him, people come to
22:30
me and say, hey, I want to get into commercial state.
22:33
I say, do you have a license? They say, no,
22:35
I don't. I say, get your license and we'll talk. So
22:37
nobody ever came back. So that's how I
22:39
literally got rid of people. But
22:42
this kid, I told him to get his
22:44
license. Three weeks, he comes back with his
22:46
license. Now I'm going like,
22:48
oh, what the heck am to do with this kid?
22:51
So literally, for two weeks, I'm trying
22:53
to get rid of him. I got him
22:55
walking my dog, washing my car, getting my lunch,
22:57
getting coffee. He's not going
22:59
anywhere. And finally,
23:01
I'm fed up with it. So, you know, one day
23:03
I was like, man, I'm getting rid of him today.
23:05
I said, Leon, how many square feet in the acre?
23:07
He said, I don't know, sir. I said, well, you
23:09
better figure that out. He come back 43 ,560 square feet,
23:11
sir. And I was
23:13
like, yeah, that's right. I said, give me
23:15
some coffee. Oh, well, he went
23:17
to get coffee. UPS
23:19
was delivering a case of water to the
23:21
office. And as he was
23:23
putting the water up, God had this
23:25
epiphany. God said, Dallas, that
23:28
was you. That was you
23:30
when you got in the real estate business in
23:32
1982. But there was nobody who
23:34
looked like you who could help you. Wow.
23:36
You can help that kid and like anybody
23:38
was ever able to help you. And it
23:40
was literally Rashad. At that moment, at that
23:42
time, I realized what God had called me
23:44
to do. Me and that
23:46
kid, we've been together now, December be
23:48
18 years. He's the president
23:50
of this company now. Because within
23:52
two weeks of that time, God told me to
23:54
train him up as a son. But this will
23:56
be the guy who will run your business when
23:58
you turn 60 years old. And we've
24:00
been on that plan and I tell
24:02
you, he's killing it. He's killing it. He's
24:04
killing it. And we're bringing more people
24:06
up, coming up behind him. So my business
24:08
partners, Dexter Warrior, a lot
24:11
of people in town know Dexter. Dexter,
24:13
I've been in the business at the same time. Dexter
24:15
always represented landlords. I was always on
24:17
the tenant side. When I
24:19
realized he was a free agent, I said, man, you got
24:21
to come over here with me, brother. You've been ripping
24:23
off tenants all your career. Now you can actually help him.
24:28
We're coming up on 14
24:30
years ago. I'd say
24:32
all this to say, we realize Dex and I
24:34
are being the two oldest people here. The
24:37
future of this industry really
24:39
depends upon us training people up
24:41
to do this industry. And
24:44
I tell people, this is the only business I know we're
24:46
selling. You can be broke on a Friday and rich on a
24:48
Monday. Right, right, right,
24:50
right. That's a beautiful thing,
24:52
you know, because you know, the thing
24:54
that I enjoy, first of all, your energy,
24:56
you know, energy. And I always heard
24:58
about that. It was legendary. Your enthusiasm for
25:00
life. Your ability to communicate but more
25:02
importantly the give back part I never heard
25:04
that story because I always know in
25:06
my life I'm sitting behind this mic because
25:08
there's so many people I was called
25:10
I would say they bumped me, you know
25:12
when I was about to fear off
25:14
This we shut you don't belong over there.
25:17
Won't you go back where you supposed
25:19
to be? Okay, okay. I'll just test it
25:21
out. We're tired of watching you test.
25:23
Okay, go where you're supposed to be. And
25:25
so, with that young man, it
25:27
is important for people to understand
25:29
that the word no and also
25:31
humbleness is why he hung in
25:33
there. Because so many people want
25:36
to check. I always
25:38
tell people, because I started out in
25:40
entertainment in my career. I got a
25:42
degree in mathematics, but I left IBM
25:44
to do entertainment. And I always tell
25:46
people the amount of work I did
25:48
for free. because I wanted people to
25:50
see my talent. Even today, I'll take
25:53
opportunities just to see how it is,
25:55
drives my wife crazy, of course. She
25:57
should be charged. And I say, well,
25:59
that's a relationship I'm building out. It's
26:01
like a relationship. Every time I'm talking
26:03
to somebody like you, it's a relationship
26:05
that I'm doing. I'm down here. Nobody's
26:08
paying me a check to be on
26:10
this show an hour every Tuesday on
26:12
WCLK in Atlanta, Georgia, because I'm getting
26:14
them. Introduce myself and also you individual
26:16
like you to the world because my
26:18
show is broadcast internationally broadcast locally my
26:20
podcast gets 1 .3 million downloads a
26:22
month And so that lets me know
26:25
there's a voice out there, but your
26:27
brand T Dallas man, brother You know
26:29
when you say 40 years man, you
26:31
you make it seem like that's a
26:33
journey of happiness and you throw faith
26:35
in there How powerful is faith in
26:37
business? How does that correlate to your
26:40
life and how does it allow it to allow
26:42
you to be so humble? Man,
26:44
let me tell you something. There's
26:47
a T .J. has in his
26:49
book, The Crushing. He talks
26:52
about you can't have
26:54
fine wine without crushed grapes.
26:58
Wow. And we all go through some
27:00
crushing. So I had an ego back
27:02
in the day that was as big
27:04
as this building, I mean. God
27:07
has a way of crushing
27:09
you and bringing you back to
27:11
a place of what is
27:13
really all about See it was
27:16
never really about all it
27:18
was never really about the money
27:20
It's really about you walking
27:22
in the calling that God has
27:24
for you and then walking
27:27
in that calling Provision comps and
27:29
Getting not to my knees
27:31
and having to start all over
27:33
again Was probably
27:35
the best thing not probably it was
27:37
the best thing that ever could have
27:39
happened to me Because if that didn't
27:41
happen that would have never met Leontae
27:43
Mm -hmm, and the odds are we you
27:45
and I wouldn't be on this phone
27:48
call now talking about T. Dallas Smith
27:50
and company hmm But I'm real clear
27:52
faith has everything to do with it.
27:55
I am the son of
27:57
Lena and Glenn Smith
27:59
My mother was a praying
28:01
woman and always prayed For
28:04
us We heard over and over
28:06
again you can do through all you
28:08
can do all things through Christ
28:10
who strengthens you I Heard that my
28:12
whole life And I know it
28:14
is true as I'm talking to you
28:17
on this phone That if you
28:19
hear Learn the ability to hear God's
28:21
voice for you To this day
28:23
people trying to figure out what I'm
28:25
doing and I tell you at
28:27
the end the day I'm gonna give
28:30
you the cigarette shot mm -hmm I
28:32
just hear guys voice and I
28:34
do what he tells me to do.
28:36
Period. Hard stop. And
28:38
so, man, I'm looking at the stuff we're doing.
28:40
You wouldn't even believe the stuff that we're doing.
28:43
The stuff that comes out of nowhere
28:45
is, I know it's not out of
28:47
nowhere. People think it's out of nowhere,
28:49
but these relationships, building relationships before you
28:52
need them, that's one of my keys. Stay
28:54
green enough to grow. The
28:57
day I stopped learning, put me
28:59
in the box, bro. Always
29:02
keep something learning try to
29:04
get better. I can be
29:06
better tomorrow than I am
29:08
today. That's always my prayer
29:10
my brother Your humbleness and
29:12
your storytelling is incredible. I'm
29:14
talking to T Dallas Smith.
29:17
He began his commercial real
29:19
estate career in 1982 Now
29:21
today the largest African -American
29:23
owned firm in the country
29:25
My brother This
29:27
half hour wasn't long enough for me and you.
29:29
I'm just gonna let you know that, man. We
29:32
got more stuff to say, but I got another
29:34
guest on another half hour of this. But
29:36
more importantly, I just wanna let you
29:38
know that we gotta get together off
29:40
air. I love to do
29:42
that. And I gotta show you one thing
29:44
that we have in common. We
29:47
both did stand up. Okay.
29:49
Well, I can see the energy there,
29:51
but you know, I did Def Jam. I
29:53
did BED Cover View. You know, I
29:55
did all that now. I know you did.
29:57
I do. You bad man. You bad
29:59
man. Yeah, yeah, yeah. You bad man, baby.
30:02
I appreciate you, brother. Thank you for coming on
30:04
Monday, making conversation, T -dialogue, Smithman. Thank your staff,
30:06
man, for connecting us, because they reached out
30:09
to me and made this happen, man. And they
30:11
did, they do dealings, just work your schedule
30:13
so we can make this interview happen. And it
30:15
was well worth the wait, my brother. Thank
30:17
you for coming on Monday, making conversation about the
30:19
class. We talk soon, okay? Make
30:21
that money, baby. All right. Appreciate you.
30:23
Let's talk soon. All right. All right.
30:26
Bye. This has been another edition of
30:28
Money Making Conversation Masterclass, hosted by me,
30:30
Ruchan McDonald. Thank you to our
30:32
guests on the show today. And thank
30:34
you, our listening audience. Now, if you
30:36
want to listen to any episode or
30:38
want to be a guest on the
30:41
show, visit moneymakingconversations.com. Our social media handle
30:43
is Money Making Conversation. Join us next
30:45
week. And remember to always leave with
30:47
your gifts. Keep winning. podcast
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