Welcome to The Legacy Wealth Podcast where we help accredited business owners become educated & get access to, private investments that the wealthiest investors in the world utilize to grow their net worth. We do this by providing insight & access to successful fund managers & investors across multiple asset classes.

We are your hosts, Pascal Wagner & Mike Klein, and today we are interviewing Wayne Barringer, CEO @ WBC In-House Advisors and we'll diving into:

- How to spread out your investments

- The importance of clear communication between fund managers and investors

-And the importance of learning from failures in investing and not being deterred by losses

Links from this episode:

- If you're looking for highly vetted opportunities to invest in, get access to our deal database of alternative investments & join our investor club at www.getfundbase.com.

- Watch the show on YouTube here: https://youtu.be/sgUD2A_m80Q

About Wayne Barringer:
At work, I do PR and employee communications & general management consulting. At home, I play drums, run races and coach kids sports.

Links from our Guest:

- https://www.linkedin.com/in/waynebarringer/

- https://www.linkedin.com/company/wbc-advisors/

- https://wbcadvisors.com/

- [email protected]

Time Stamps:
00:00 - Intro
01:45 - Wayne Barringer's background
02:31 - Wayne discusses his transition into investing in funds
03:21 - Wayne mentions his exposure to real estate through educational resources
03:58 - The importance of deploying cash and avoiding inflation
04:30 - The allocation of Wayne's portfolio between the market and private investments
05:45 - Wayne's preference for funds and syndications
07:28 - The attractiveness of private investing
08:17 - Wayne's decision-making process and due diligence for the first investments
11:26 - The importance of understanding if a deal is dependent on a refinance event
12:22 - The concept of floating rate debt and refinancing
14:14 - The importance of understanding the track record and reputation of the general partners
15:00 - Wayne discusses the ideal qualities of a perfect fund and the importance of communication during challenging times
16:11 - Wayne observes that deal pitches often focus on statistics and market trends without addressing the element of risk
17:16 - Capital preservation should be the primary focus when discussing deals with investors
18:30 - Wayne comments on property managers cutting costs in refurbishing model units
20:00 - Wayne's practice of personally visiting and evaluating properties to ensure due diligence as an investor.
22:19 - Difference between due diligence and communication/marketing aspects
24:38 - Whether LPs would want to be involved in such discussions
25:29 - Wayne's mindset
27:21 - Wayne describes how his mindset has changed over time and how he has learned from his mistakes
29:08 - The concept of private investing to include real estate, tech funds, and
partnerships in small businesses
30:34 - Wayne's interest in exploring different asset classes, such as laundromats, small businesses, and tech funds.
33:15 - The importance of de-risking strategies implemented by the general partners (GPs) in the deals
36:20 - Wayne mentions his shift towards prioritizing deals that provide regular cash flow to mitigate risk in case of business downturns
38:10 - The psychological cycle of feeling smart during good times and not so smart during challenging times
39:00 - Wayne discusses the importance of accumulating and stabilizing cash for future investment opportunities
41:30 -Wayne shares his current approach of being more deliberate and proving the performance of GPs before making further investments
43:30 - The value of being in a deal and the unique learning experience it provides
44:30 - The physical and emotional difference of being directly involved in a deal compared to studying from a distance
45:45 - Outro