Latest / Massive Agent Podcast / How To Buy 100+ Units While Growing A Real Estate Sales Team w/ Jared Davis

Transcript

How To Buy 100+ Units While Growing A Real Estate Sales Team w/ Jared Davis · Massive Agent Podcast

• 0:00
  SPEAKER_00: On this episode, we are talking with an agent and a team leader who has accumulated 123 units in his rental portfolio while leading and growing one of the largest sales teams in Virginia.
• 0:12
  SPEAKER_00: We're talking with Jared Davis out of Richmond, Virginia, about how he's able to stay focused on growing the real estate team.
• 0:18
  SPEAKER_00: And yet, how the hell do you build a portfolio of 123 units in just a few years?
• 0:26
  SPEAKER_01: The Massive Asian podcast.
• 0:28
  SPEAKER_01: We lead generation different strategies to give you more leads and sell more homes.
• 0:33
  SPEAKER_04: I love to buy houses.
• 0:34
  SPEAKER_04: I like to sell houses.
• 0:44
  SPEAKER_01: Oh, have I got your attention now?
• 0:48
  SPEAKER_01: Here's your host, Dustin Brown.
• 0:52
  SPEAKER_00: What's up, guys?
• 0:52
  SPEAKER_00: Welcome back to the Massive Age of Podcast, episode 262, and the very last, the final episode ever.
• 1:00
  SPEAKER_00: No, I'm just kidding.
• 1:01
  SPEAKER_00: The final episode of 2022, and we're gonna end the year with a bang.
• 1:05
  SPEAKER_00: And I'm gonna give you some shit to think about because I know the vast majority of you, if you were asked, do you want to grow your real estate portfolio in 2023?
• 1:17
  SPEAKER_00: I don't know any of you that would say no.
• 1:19
  SPEAKER_00: And if you did, why?
• 1:20
  SPEAKER_00: That's a weird thing to say.
• 1:22
  SPEAKER_00: So it's something that all agents want to do.
• 1:24
  SPEAKER_00: And so I thought, well, shit, let's just talk to an agent who who grew a sales team, who scaled their team.
• 1:30
  SPEAKER_00: I think he I think Jared said he has 25 agents.
• 1:33
  SPEAKER_00: Um, he's out of the Richmond, Virginia area.
• 1:35
  SPEAKER_00: Yeah, 25 agents with the Davis group.
• 1:38
  SPEAKER_00: And at that same time, over the last few years, he's he's built a rental portfolio of 123 units.
• 1:45
  SPEAKER_00: Now that's crazy.
• 1:47
  SPEAKER_00: He's going to explain to us today.
• 1:49
  SPEAKER_00: He's going to share exactly how he did that and how he financed it, how he found the properties, all of that.
• 1:55
  SPEAKER_00: And also importantly, right, which is I know most of your issues with why you haven't become real estate investors and why you're not building portfolios, is you don't want to lose focus from your core, your core gig, right?
• 2:09
  SPEAKER_00: Your core business, which is serving buyers and sellers and closing transactions.
• 2:13
  SPEAKER_00: Well, Jared scaled the transactions, scaled the team and his rental portfolio.
• 2:18
  SPEAKER_00: So how the hell did he do it?
• 2:20
  SPEAKER_00: He's gonna share that with us today.
• 2:22
  SPEAKER_00: So the whole theme of this show is how do we make 2023 so much more profitable?
• 2:27
  SPEAKER_00: How do we lay the groundwork for wealth creation?
• 2:30
  SPEAKER_00: How do we start to build our net worth in 2023?
• 2:33
  SPEAKER_00: And hopefully you're not starting to, but you're continuing to.
• 2:36
  SPEAKER_00: And if you are starting, that's totally fine.
• 2:38
  SPEAKER_00: Everybody starts somewhere, everybody starts at some point.
• 2:41
  SPEAKER_00: What matters is that you do start and you start as soon as possible.
• 2:45
  SPEAKER_00: But you know, most of you are making plans or setting goals or telling the internet, telling your friends that 2023 is gonna be the best year ever, right?
• 2:52
  SPEAKER_00: You're gonna make more money than ever, you're gonna crush it.
• 2:54
  SPEAKER_00: 2023 is gonna be fire, all of that, right?
• 2:57
  SPEAKER_00: And look, if you're saying that, fantastic.
• 2:59
  SPEAKER_00: I'm with you, I love it, I'm here for it.
• 3:01
  SPEAKER_00: Uh thank God you're saying that, and you're not like, eh, 2023 is gonna be it's gonna be average, it's gonna be so-so.
• 3:08
  SPEAKER_00: No.
• 3:09
  SPEAKER_00: So you're talking a big game, right?
• 3:11
  SPEAKER_00: But here's the thing far too many agents are not making any investments into new systems, new mentorships, new more efficient ways of doing things.
• 3:20
  SPEAKER_00: Okay, you plan on having the best year ever in 2023.
• 3:23
  SPEAKER_00: That's what you're telling the world, yet you're not really doing anything different.
• 3:27
  SPEAKER_00: Okay, you're planning to use the same old broken systems, same old platforms to do this shit.
• 3:32
  SPEAKER_00: So if you want to have any shot at truly leveling up, like, and I I'm not just talking about going from selling 20 homes to selling 27.
• 3:40
  SPEAKER_00: Like, if that's your goal, great, but aim higher, you should be like 20 to 80, right?
• 3:45
  SPEAKER_00: Let's really level the level this shit up.
• 3:48
  SPEAKER_00: But to have any shot in 2023, you need follow-up boss.
• 3:52
  SPEAKER_00: And because you are a listener of this show, you are gonna get a 30-day free trial from follow-up boss.
• 3:57
  SPEAKER_00: They don't give that to everybody.
• 3:58
  SPEAKER_00: If you just go to their website, it's only 14 days.
• 4:00
  SPEAKER_00: So, massive agent listeners, 30-day free trial.
• 4:04
  SPEAKER_00: They don't even ask you for a credit card until you're ready to actually buy, which is amazing.
• 4:08
  SPEAKER_00: They're that confident, and they just want to remove the friction from you trying the product.
• 4:12
  SPEAKER_00: Try it free for 30 days, no credit card required, and see why the vast majority, like most, if not, well, you can't say all, but pretty much all uh pretty much all the big ones, all the largest, highest selling agents and teams all use follow up boss.
• 4:27
  SPEAKER_00: You're gonna find out why.
• 4:28
  SPEAKER_00: Just go to MassiveAgentPodcast.com slash follow up boss.
• 4:32
  SPEAKER_00: MassiveAgentPodcast.com slash follow up boss and get started on the 30-day free trial today and leave your damn wallet in your pocket.
• 4:41
  SPEAKER_00: Leave it in your purse, leave it on the desk.
• 4:43
  SPEAKER_00: If you don't even carry a wallet anymore, like like I usually do, I just use Apple Pay everywhere I go, awesome.
• 4:49
  SPEAKER_00: You don't even need that shit.
• 4:51
  SPEAKER_00: So try follow up boss immediately, and that will lay the groundwork for an amazing 2023 as long as you use it and get going.
• 5:00
  SPEAKER_00: The same holds true for your knowledge and expertise and ability to teach and advise potential clients.
• 5:06
  SPEAKER_00: If you're planning to enter 2023 with the same understanding of your market, the same data, the same brain, basically, uh, that you had throughout all of 22 2022.
• 5:16
  SPEAKER_00: Honest question, okay, serious question.
• 5:18
  SPEAKER_00: What uh extra value are you are you bringing to consumers this next year?
• 5:22
  SPEAKER_00: Are you bringing anything new to the table or is it just the same old you?
• 5:26
  SPEAKER_00: You just plan on helping more?
• 5:27
  SPEAKER_00: Like, okay, but I I highly recommend you use a cheat code, the cheat code that so many of the highest producing agents all around the country are using to stay ahead of the fast moving market and all the the crazy impact of interest rates, which has been dramatic this year, as you well know.
• 5:43
  SPEAKER_00: The cheat code is called keeping current matters.
• 5:46
  SPEAKER_00: Okay, they're all using KCM.
• 5:47
  SPEAKER_00: You can get a free trial of KCM today by going to try KCM.com slash BAM B A M and see why KCM is the hack for any educator, any advisor, any high-level real estate agent in the industry.
• 6:05
  SPEAKER_00: Try KCM.com slash BAM.
• 6:07
  SPEAKER_00: When you learn how to, when you have a better understanding of market conditions and have some perspective on today's market versus where were we three years ago and all of that, and then what's coming, when you understand that, you're gonna be better able to really distill it down and educate consumers on what they should be doing and help them make better financial decisions.
• 6:28
  SPEAKER_00: It starts with keeping current matters.
• 6:31
  SPEAKER_00: So last words before we get into uh into our talk with Jared Davis, investor, broker, team leader with the Davis group at EXP Realty out of Richmond, Virginia, real estate investor, extraordinaire.
• 6:44
  SPEAKER_00: He's a young guy, like he's younger than me, and he has 123 units.
• 6:48
  SPEAKER_00: And I talk to him and I'm like, wow, fuck me.
• 6:50
  SPEAKER_00: Like, what about what am I doing with my with my life, basically?
• 6:54
  SPEAKER_00: Um, I'm actually quite pleased with my life, but nonetheless, I wish I had a portfolio of 123 units, and so it's this is kind of a call to action for me personally.
• 7:03
  SPEAKER_00: Like when I was talking to Jared and we were recording this, it lit a fire under my ass.
• 7:08
  SPEAKER_00: It's like, why can't I do what I'm doing and also be investing in real estate?
• 7:15
  SPEAKER_00: And so it's happening.
• 7:16
  SPEAKER_00: We you know, the things are in the works, the ball is rolling, and I hope it is for you as well.
• 7:21
  SPEAKER_00: I want you to take a step back and turn back for a second.
• 7:25
  SPEAKER_00: Just look at the beginning of 2022.
• 7:27
  SPEAKER_00: What an insane year it's been.
• 7:29
  SPEAKER_00: So much has happened this year, and all of it's positive.
• 7:33
  SPEAKER_00: Okay, the way I look at it, it's all positive.
• 7:35
  SPEAKER_00: January, February, March.
• 7:37
  SPEAKER_00: Who the hell would have thought that at the end of this year we would be talking about 7% interest rates, and you know, when the hell are they gonna go back down again?
• 7:47
  SPEAKER_00: And is it a buyer's market?
• 7:48
  SPEAKER_00: Is it a seller's market?
• 7:49
  SPEAKER_00: Are prices going down?
• 7:50
  SPEAKER_00: Are they not?
• 7:52
  SPEAKER_00: Like back in January and February, it was insane, right?
• 7:55
  SPEAKER_00: It was absolutely on fire, insane, demand through the roof, multiple offers, like you know, multiple dozens of offers on every property, but it changed so fast because of interest rates.
• 8:06
  SPEAKER_00: It's really interesting to see how fast things change, but also give yourself some credit because you adjusted along with it.
• 8:14
  SPEAKER_00: It happened so fast, and a lot of us were unprepared, but because you've been listening to the show, you've been doing a research, you've been experienced, you've been, you know, you have some common sense and you are willing to take action, you've been able to stay ahead of the curve and you've been able to adapt with it, and you've been able to grow with it.
• 8:32
  SPEAKER_00: And if you haven't, you're still, I I'm telling you right now, if you're listening to this show, you want to grow.
• 8:40
  SPEAKER_00: You have a desire to do better, you have a desire to level up.
• 8:44
  SPEAKER_00: If if you didn't, you wouldn't be listening right now.
• 8:46
  SPEAKER_00: Like right now, you would not be hearing these words.
• 8:49
  SPEAKER_00: So give yourself some credit for that.
• 8:52
  SPEAKER_00: Excuse me.
• 8:53
  SPEAKER_00: Give yourself some credit because there's the majority of the agents out there are sitting on the sidelines, there's they're sitting down, they're confused, their their head is in their hands, and they're like, What do we do?
• 9:05
  SPEAKER_00: Like, I I keep doing the same shit.
• 9:07
  SPEAKER_00: It was working last year, why isn't it working now?
• 9:09
  SPEAKER_00: They just don't know what to do.
• 9:12
  SPEAKER_00: And let's be honest, a lot of them do know what to do.
• 9:15
  SPEAKER_00: I'll I'll go ahead and say most.
• 9:17
  SPEAKER_00: Most know what to do, they just don't fucking do it.
• 9:20
  SPEAKER_00: They just don't do it.
• 9:21
  SPEAKER_00: You're doing it, you're committing to doing it by being here listening to the show, and now it's time to take some action.
• 9:29
  SPEAKER_00: All right.
• 9:29
  SPEAKER_00: 2022's been crazy, but the shift has happened.
• 9:32
  SPEAKER_00: All right, it's not like we're in the middle of the shift.
• 9:35
  SPEAKER_00: The shift has already happened.
• 9:36
  SPEAKER_00: Now it's gonna continue shifting a little bit, but uh, you know what to do.
• 9:40
  SPEAKER_00: You know what to do.
• 9:41
  SPEAKER_00: You need to be seen more, you need a shitload more exposure.
• 9:44
  SPEAKER_00: If if you did not hear last week's episode, what agents need to do for success in 2023, go listen to that, episode 261.
• 9:51
  SPEAKER_00: You need to hear that because if you focus on those five things, I promise you 2023 will absolutely be the year that you're telling everyone it's gonna be.
• 10:02
  SPEAKER_00: But it's gonna take some action, it's gonna take getting out of your comfort zone, it's gonna uh take doing some extra work, maybe not doing some things that really you shouldn't be.
• 10:11
  SPEAKER_00: You need to be outsourcing, you need to be hiring some stuff out.
• 10:15
  SPEAKER_00: There's just a lot that you can do that you're not doing yet.
• 10:19
  SPEAKER_00: And if you do that, you can have the best year ever.
• 10:22
  SPEAKER_00: So let's let's segue into this talk about acquiring rental properties, building cash flow.
• 10:29
  SPEAKER_00: All right.
• 10:30
  SPEAKER_00: This show when I started this podcast back in January 2018, okay, it's been almost five years.
• 10:37
  SPEAKER_00: Like we're just a couple weeks away from five year, our five-year anniversary.
• 10:40
  SPEAKER_00: Holy shit, that's crazy.
• 10:42
  SPEAKER_00: When I started this show, I just wanted to share with you some marketing stuff.
• 10:45
  SPEAKER_00: Like, here's here's some stuff about websites, here's some stuff about SEO, here's some social media stuff, blah, blah, blah, blah, blah.
• 10:50
  SPEAKER_00: It's really transitioned into helping agents be more profitable.
• 10:55
  SPEAKER_00: And I don't necessarily mean selling more homes.
• 10:58
  SPEAKER_00: That's obviously a part of it.
• 10:59
  SPEAKER_00: But the goal is not to sell more homes, the goal is to make more money.
• 11:03
  SPEAKER_00: And selling more homes is obviously a way to do that, but there are other ways to be more profitable.
• 11:08
  SPEAKER_00: And if you have more, if you have other streams of income, if you have cash flow, if you have revenue or profit share, if you have investments providing income to you, it really like you're increasing your profitability dramatically without working more.
• 11:22
  SPEAKER_00: Maybe you do a little bit in the beginning to build that, you know, to go look for the property, to fix it up, to find a tenant, find a property manager, you rent that shit out, all of that.
• 11:31
  SPEAKER_00: Yeah, that takes some work up front.
• 11:33
  SPEAKER_00: But then it's just kind of on autopilot.
• 11:35
  SPEAKER_00: And then you just go find another and another.
• 11:37
  SPEAKER_00: And pretty soon you have cash flow.
• 11:39
  SPEAKER_00: And there's other ways of doing cash flow in this industry.
• 11:41
  SPEAKER_00: That's what I do with the brokerage that I chose, the way that my team is set up, the massive agent team, which by the way, takes no commission split from you whatsoever on top of what the brokerage charges.
• 11:51
  SPEAKER_00: It's just like you're just partnering with us, costs you no extra money, which is really cool.
• 11:55
  SPEAKER_00: But we help you to build revenue share and a cash flow every single month so that you're not only reliant on commission.
• 12:02
  SPEAKER_00: Okay.
• 12:03
  SPEAKER_00: If you're only relying on commission, you're vulnerable.
• 12:06
  SPEAKER_00: What happens if what happens if you can no longer do the activities that generate the commission?
• 12:13
  SPEAKER_00: What if you don't have a team set up yet?
• 12:14
  SPEAKER_00: What if you don't have staff that can help with some of these things?
• 12:17
  SPEAKER_00: You're screwed.
• 12:18
  SPEAKER_00: So you need multiple streams of income, but they shouldn't be distracting from what you're already doing.
• 12:23
  SPEAKER_00: So let's hear how Jared Davis from Richmond, Virginia, was able to grow a portfolio of 123 properties that he may even have more by the time this episode airs, I don't know, or by the time you're hearing it.
• 12:35
  SPEAKER_00: But he did that while also growing the sales and profitability of his sales team.
• 12:41
  SPEAKER_00: Really excited for you guys to hear this today.
• 12:42
  SPEAKER_00: Let's go.
• 12:43
  SPEAKER_00: What's up, guys?
• 12:44
  SPEAKER_00: I'm here with Jared Davis from the Davis group.
• 12:46
  SPEAKER_00: He is buying up all the homes.
• 12:48
  SPEAKER_00: Right now he has 123 doors uh that he owns and controls, and probably even more by the time this podcast comes out.
• 12:56
  SPEAKER_00: I don't know, he's buying all the homes.
• 12:58
  SPEAKER_00: So, Jared, you're selling a bunch of homes and you're buying a bunch of homes.
• 13:01
  SPEAKER_00: Welcome to the Massive Agent Podcast, my friend.
• 13:03
  SPEAKER_00: How's it going?
• 13:04
  SPEAKER_00: Thank you.
• 13:04
  SPEAKER_00: Thank you for having me.
• 13:05
  SPEAKER_00: I'm pumped to be here and try to help however I can.
• 13:08
  SPEAKER_00: Help people grow.
• 13:09
  SPEAKER_00: Awesome.
• 13:10
  SPEAKER_00: Yeah, I wanted to have you on because you're you're young, you know, in your early 30s, and you own a lot of real estate.
• 13:16
  SPEAKER_00: You do a bunch of flips, you do a bunch of stuff, in addition to running a successful high-level mega icon team at EXP, which, you know, how many agents do you have?
• 13:26
  SPEAKER_00: Did you say like 15?
• 13:28
  SPEAKER_00: 25 on team.
• 13:29
  SPEAKER_00: Not yeah, 25 on the team itself, yes.
• 13:32
  SPEAKER_00: 25.
• 13:33
  SPEAKER_00: Okay, amazing.
• 13:34
  SPEAKER_00: So you're running this real estate team and selling hundreds of homes, and you're you're investing, you're you're you're doing all the investing.
• 13:42
  SPEAKER_00: So most agents have this mental block where it and look, I know they have this block because I had this block, where you're like, I need to just focus on buyers and sellers.
• 13:53
  SPEAKER_00: Well, that's great.
• 13:54
  SPEAKER_00: And yes, you can just keep the transactions going and there's income there, but you're not building wealth, and you're certainly not building cash flow.
• 14:01
  SPEAKER_00: I've never been paid month after month for a listing, right?
• 14:04
  SPEAKER_00: You get paid, you close, you get paid once, you're done, you gotta start all over.
• 14:07
  SPEAKER_00: You're unemployed yet again.
• 14:09
  SPEAKER_00: So when did you start getting into the real estate investment game?
• 14:14
  SPEAKER_00: Did it did that start before you became an agent with buyers and sellers?
• 14:18
  SPEAKER_00: Or, you know, kind of let's talk about the start and then we'll talk about your first deals because I think that's where the real uh meat and potatoes is for pretty much everyone listening.
• 14:27
  SPEAKER_03: Yeah, so I got my license in 2013 and started selling first.
• 14:33
  SPEAKER_03: I spent probably about five years selling before I started thinking about jumping into investing.
• 14:39
  SPEAKER_03: But ultimately, if you're a realtor and you're listening to this, you're probably helping out like so many investors at this point, right?
• 14:45
  SPEAKER_03: You help them buy flips, maybe you're helping them buy rentals.
• 14:48
  SPEAKER_03: And so what happens is you sell long enough and you start understanding, hey, I'm finding the deal, I'm comping the deal.
• 14:55
  SPEAKER_03: Uh, these new investors want to know who my roofer is and my contractor is, and so I'm giving them contractors, and all they're really doing is putting up the money, and sometimes they're not even doing that, because sometimes they're pulling hard money.
• 15:07
  SPEAKER_03: So you realize these guys are gonna go flip a house, you're gonna make five grand, they're gonna make 40 grand.
• 15:12
  SPEAKER_03: And so after about five or six years, I said, you know, I need to start kind of doing this on my own because I have the know-how.
• 15:18
  SPEAKER_03: I just didn't have the cash the first year or two, you know what I mean?
• 15:21
  SPEAKER_03: But after five, six years in the business, I started so about four years ago is when I started investing, and it started with flips.
• 15:28
  SPEAKER_03: I did two flips before I ever bought my first rental property.
• 15:32
  SPEAKER_00: Okay, so okay, so you're in your late 20s and you're like, you know what, I feel like I have a handle on this real estate game.
• 15:37
  SPEAKER_00: It's time for me to play too.
• 15:39
  SPEAKER_00: And uh so why did you so why'd you start with flipping?
• 15:44
  SPEAKER_00: And then why did you go to cash flowing buy and hold since?
• 15:48
  SPEAKER_03: Yeah, so I was doing okay at that point with sales, but I wasn't like crushing the world.
• 15:54
  SPEAKER_03: I hadn't really started building the team yet.
• 15:56
  SPEAKER_03: Uh, I was still a solo agent, I was selling probably 80 to 100 houses a year at that point solo.
• 16:02
  SPEAKER_03: So it was decent commission money.
• 16:04
  SPEAKER_03: Um, to disclose a little too much, I had like I was going through a divorce at the time.
• 16:09
  SPEAKER_03: So, you know, obviously that's never a cheap thing either.
• 16:12
  SPEAKER_03: So the flips started because I needed cash, right?
• 16:15
  SPEAKER_03: As much as I wanted a rental, I needed that down payment money for whatever we're gonna go buy, whether it was down payment money with hard money, whether it was a normal bank, whether it was a commercial bank.
• 16:23
  SPEAKER_03: And so the flips were the way that I said, all right, I've got a decent amount of cash.
• 16:26
  SPEAKER_03: How can I steamroll that cash into more cash quickly?
• 16:29
  SPEAKER_03: And so we started off with just a couple flips.
• 16:32
  SPEAKER_03: I think the first flip we made 36 grand on, and I split that, right?
• 16:36
  SPEAKER_03: So I made half of it, and then I had a partner on the second flip.
• 16:38
  SPEAKER_03: I think we made 43,000 on that.
• 16:41
  SPEAKER_03: So I split that.
• 16:42
  SPEAKER_03: So now you figure, all right, now I got 30, 40 grand, plus I paid cash for my portion of the flip.
• 16:47
  SPEAKER_03: So now you're like, all right, now I've got some cash sitting here, what do I do with it?
• 16:50
  SPEAKER_03: And so then it was like, all right, it's time to jump in for rentals.
• 16:53
  SPEAKER_03: We want passive income, like you said.
• 16:55
  SPEAKER_03: Uh, I'm tired of just selling, and then it's done when it's done.
• 16:58
  SPEAKER_03: So how do you start building passive?
• 17:00
  SPEAKER_03: And you know, we made the jump into rental.
• 17:02
  SPEAKER_03: So it was a little over at this point, let's call it a little over 36 months.
• 17:06
  SPEAKER_03: We've gone from zero to 123 doors.
• 17:09
  SPEAKER_00: Okay, incredible.
• 17:10
  SPEAKER_00: And most agents will go through their whole career.
• 17:13
  SPEAKER_00: Maybe they flip one house, maybe they buy one rental property, and that's that's it.
• 17:18
  SPEAKER_00: And most won't ever.
• 17:19
  SPEAKER_00: And my mentality for for about 10 straight years was I need to stay so laser focused on helping buyers and sellers.
• 17:29
  SPEAKER_00: And then when deals come across, I'll just wholesale them off or refer them out to my broker or some investor friends that I had.
• 17:36
  SPEAKER_00: And and I did that a few times, and then I watched them, you know, like I'd get a six thousand dollar check uh for referring it to them, and then they'd get like a hundred and sixty thousand dollar check after doing a flip.
• 17:47
  SPEAKER_00: So I'm like, shit, or they're just building a uh portfolio of properties that that are cash flowing 200 to 400 bucks a month, you get 10 of those, 20 of those, 123 of those.
• 17:58
  SPEAKER_00: That adds up.
• 17:59
  SPEAKER_00: So I'm like, I'm like, shit, man, I I lost a decade.
• 18:03
  SPEAKER_00: So for those that are in a similar situation and they're like, look, I understand real estate, I understand the business, but how do you start and transition from selling homes for somebody else to picking up your own real estate investments?
• 18:18
  SPEAKER_00: Talk us through that.
• 18:20
  SPEAKER_00: Okay.
• 18:21
  SPEAKER_03: So what's what's interesting, I think, about my story is most people would buy their first single family house.
• 18:29
  SPEAKER_03: Maybe they'd leave some equity in it, maybe they would burr it, uh, you know, buy, renovate it, rent it, refinance, repeat, whatever.
• 18:36
  SPEAKER_03: I actually started with an eight-unit apartment building.
• 18:39
  SPEAKER_03: So I again I had bought two to flip, so it wasn't like it was my first investment purchase, but it was my first rental purchase, and it and it and it was in an eight-unit.
• 18:49
  SPEAKER_03: Uh, it was not only an eight-unit, but it was an eight-unit that wasn't even in my direct market.
• 18:54
  SPEAKER_03: So it is in my state, but it is we I still own the building with partner, and it's about two hours from where I live.
• 19:02
  SPEAKER_03: And so I actually just, you know, for those people that are nervous about getting into a new market or they're nervous about just jumping in.
• 19:10
  SPEAKER_03: Not only can you jump in, you don't have to buy a single family, you can go multi if you want.
• 19:15
  SPEAKER_03: And if you want to go into a different market, you can go into a different market.
• 19:18
  SPEAKER_03: You just have to do the research on numbers, right?
• 19:21
  SPEAKER_03: At the end of the day, the numbers either work or they don't work, right?
• 19:25
  SPEAKER_03: It's pretty simple.
• 19:26
  SPEAKER_03: And so if you're in the business as a realtor, you should have a pretty good idea of comps and ARV.
• 19:34
  SPEAKER_03: You should have an okay idea of rental rates.
• 19:37
  SPEAKER_03: And if you don't, it's as easy as just calling a property manager or two and saying, hey, if I have an apartment for you to rent because I don't want to manage this myself, what can you get for these units if they're A class, B class, C class, right?
• 19:51
  SPEAKER_03: It's pretty simple to at least figure out a game plan.
• 19:55
  SPEAKER_03: Now, that may not be the current numbers.
• 19:57
  SPEAKER_03: The building I bought was only 50% rented out.
• 19:59
  SPEAKER_03: So it was an eight-unit building.
• 20:01
  SPEAKER_03: Only four of the units had people in it, right?
• 20:04
  SPEAKER_03: We had to renovate multiple units in that building when we bought it.
• 20:08
  SPEAKER_03: It was bringing in$50,000 in revenue a year when we bought it.
• 20:12
  SPEAKER_03: By the end of the first year, I think we were up to$120,000 because we renovated and we we filled all the units.
• 20:18
  SPEAKER_03: And then now I looked just a few minutes ago.
• 20:21
  SPEAKER_03: I think it's bringing in right around$170,000 a year in rents.
• 20:25
  SPEAKER_04: Nice.
• 20:26
  SPEAKER_03: Um and so ultimately you should be able to get an idea of what it's going to rent for pretty easily by making some calls.
• 20:32
  SPEAKER_03: There's also like rentiometer.com.
• 20:33
  SPEAKER_03: I mean, even rentometer, it may not be the most accurate, but you can plug in an address, you can say, hey, it's a three-bedroom, it's a two-bath, what is it getting?
• 20:40
  SPEAKER_03: And it'll pull rental data and it'll give you like an average rental number as well.
• 20:44
  SPEAKER_03: So if you can start to figure that stuff out, it's pretty easy.
• 20:47
  SPEAKER_03: It's kind of almost a cop-out to be like, well, I don't know the area.
• 20:51
  SPEAKER_03: You know, it's it's a super excuse to be like, I don't know what I can rent this for.
• 20:55
  SPEAKER_03: I mean, you can make two calls and have a pretty good idea of what it's gonna rent for.
• 20:58
  SPEAKER_03: So I think that's step one is just knowing your numbers.
• 21:01
  SPEAKER_03: And right now, if the interest rate's changing with everything going on with how it's going on, you really have to watch what people are marketing with their pro formas because they're putting in all these rent increases over the next three years if if that's even gonna happen, right?
• 21:14
  SPEAKER_03: They may be factoring in pro forma with old interest rates that aren't uh an interest rate anymore.
• 21:18
  SPEAKER_03: They may be saying at four when it's at six.
• 21:20
  SPEAKER_03: So you do have to do some due diligence.
• 21:22
  SPEAKER_03: When you're analyzing stuff to purchase.
• 21:25
  SPEAKER_03: Yeah, but the flip side is as bad as people are at that, that means that there's also people making mistakes when they list the properties that you can take advantage of.
• 21:32
  SPEAKER_03: So the eight unit that I bought was listed on July 4th on freaking the holiday, and it was listed as a quadplex, not an eightplex.
• 21:43
  SPEAKER_03: So we put in an offer on July 4th, sight unseen, because it was 840,000.
• 21:50
  SPEAKER_03: So that's 105,000 a door, even though it was being marketed for 210,000 a door, right?
• 21:58
  SPEAKER_03: We just caught that this is not a quadplex.
• 22:00
  SPEAKER_03: This is an Apex.
• 22:01
  SPEAKER_03: How'd you find that?
• 22:02
  SPEAKER_03: If it's in a different market, it was in MLS.
• 22:05
  SPEAKER_03: So a guy on my team has the MLS access out there because it's an adjoining MLS.
• 22:12
  SPEAKER_03: Before that, I actually don't think he had MLS access.
• 22:14
  SPEAKER_03: I think we just had an agent we knew out there just set up a feed for us so we could get what was coming in.
• 22:19
  SPEAKER_03: And it came in.
• 22:20
  SPEAKER_03: And again, I give all the credit to my partner.
• 22:22
  SPEAKER_03: You know, if he tries to listen to this, like he's the one that called me and said, Hey, I see this on MLS.
• 22:26
  SPEAKER_03: So that's the value of good partners, too, is you know, I have multiple partners.
• 22:30
  SPEAKER_03: I keep my eyes on everything all the time.
• 22:32
  SPEAKER_03: But I know I've got three or four other guys that keep their eyes on everything all the time.
• 22:36
  SPEAKER_03: And between all of us, you know, we can put together deals.
• 22:39
  SPEAKER_03: So some of you may say, like, I don't want to do this with a partner, I want to own it for myself, I want to pass this to my kids, whatever.
• 22:44
  SPEAKER_03: Like, all of those are really good excuses to own the property on your own.
• 22:50
  SPEAKER_03: But good partners are great.
• 22:52
  SPEAKER_03: I mean, bad partners can ruin you, but I love a good partnership because there's always going to be something that you don't want to do that they probably do.
• 22:59
  SPEAKER_03: You know, my partner on this this building loves to go down to the area and check the building out and see what's going on.
• 23:05
  SPEAKER_03: And like, I don't want to do any of that.
• 23:06
  SPEAKER_03: But like he also doesn't want to have anything to do with finances, and so I pay the mortgage and make sure people get paid and get the bills out.
• 23:12
  SPEAKER_03: And, you know, there's all these little things that partners can be great for if you if you end up wanting them.
• 23:17
  SPEAKER_00: This gives a lot for agents to think about when they when they jump into this.
• 23:22
  SPEAKER_00: Let's let's focus some more on like the this friction between this desire to start buying rental properties or doing flips, whatever you want to do, and actually doing it.
• 23:32
  SPEAKER_00: What are some of those worries that you had before you took down that that aplex?
• 23:38
  SPEAKER_00: And then let's start with that.
• 23:40
  SPEAKER_00: Like, you know, what were what were you what was holding you back?
• 23:44
  SPEAKER_00: What were your what were your concerns?
• 23:45
  SPEAKER_00: What were your misconceptions?
• 23:47
  SPEAKER_00: And then I have a follow-up question after that about why the aplex.
• 23:50
  SPEAKER_00: But um, you know, a lot of agents I talked to were just like, dude, how do you pay for the thing?
• 23:56
  SPEAKER_00: And and that there's so many options and it holds them back, right?
• 23:59
  SPEAKER_00: Like, was that one of yours?
• 24:01
  SPEAKER_03: So, so full disclosure, we did normal bank financing on it, but anything above a four-plex is commercial, right?
• 24:08
  SPEAKER_03: So anything that's a quad try duplex, you can go get standard financing on 30-year, whatever.
• 24:14
  SPEAKER_03: We did a a five-year loan term, right, commercial, and we went to a normal bank and did it.
• 24:19
  SPEAKER_03: I it's it's crazy to me to think that they even did it because I think about all the buildings I've bought and the numbers I've run since then, and everybody's always finicky about like vacancy and who's renting stuff and all this stuff, but they they financed it even though uh it was only half half rented out, and they appraised it for 30,000 higher than we paid.
• 24:40
  SPEAKER_03: So not only did we get the appraised value, but they gave us 30,000 when we closed.
• 24:46
  SPEAKER_03: The second we closed, that here's 30 grand so that you can go fix this thing up with it, right?
• 24:50
  SPEAKER_03: Yeah, so we did need 20% down.
• 24:53
  SPEAKER_03: So I'm not necessarily here to say, oh, you know, come to my seminar and I'm gonna get you into a house with zero dollars.
• 25:00
  SPEAKER_03: I think cash flow is the easiest way to get into something.
• 25:05
  SPEAKER_03: I'm not gonna sit here and say you can do this with no money.
• 25:07
  SPEAKER_03: Now, we probably won't have time to talk about it today, but my second rental deal was 28 single family houses that I bought, and I bought them all on hard money.
• 25:15
  SPEAKER_03: It was like 2.5, not o 2.65 million.
• 25:19
  SPEAKER_03: I guess it was like 2.3 million, I guess, something like that, that we pulled hard, something like that.
• 25:24
  SPEAKER_03: And so that 2.3 was all hard, that was terrifying.
• 25:27
  SPEAKER_03: There was way less money down, there was way more risk involved, right?
• 25:30
  SPEAKER_03: Um, so it can be done with hard money.
• 25:32
  SPEAKER_03: I'm not gonna sit here and say it can't be.
• 25:34
  SPEAKER_03: Yeah, but if you're a producing agent and you're making good money, stock some money.
• 25:39
  SPEAKER_03: Because if you can get 20, 30, 40, 50 grand stocked, like you can start this process and crush it.
• 25:44
  SPEAKER_03: If you just want to buy one or two a year, it's so easy to do if you had 30,000, 40,$50,000.
• 25:49
  SPEAKER_03: Um, but that was the fear.
• 25:50
  SPEAKER_03: Hey, I'm about to throw 80,000, that was my down payment amount, you know, something like that.
• 25:54
  SPEAKER_03: I was like 165 and I split it with a partner, right?
• 25:58
  SPEAKER_03: So I'm like, man, I'm about to throw 80 grand out on this property that I've I hadn't even seen.
• 26:02
  SPEAKER_03: I put it under contract.
• 26:04
  SPEAKER_03: I actually saw it the first time when we did the final walkthrough, I think.
• 26:09
  SPEAKER_03: I don't know.
• 26:09
  SPEAKER_03: I think I saw it at final walkthrough.
• 26:11
  SPEAKER_03: Because I I think the inspector went out without me, so I saw pictures of the inspection report, which as an agent, you know, those are the most terrifying pictures that you can get, right?
• 26:19
  SPEAKER_03: It's like the inspection report is just like here's everything that's falling apart on this building.
• 26:23
  SPEAKER_03: So the only thing that I really had to go by was like the inspection report.
• 26:26
  SPEAKER_03: And it was like, all right, can we overcome these these things?
• 26:28
  SPEAKER_03: Okay, yes, all right, let's move forward.
• 26:30
  SPEAKER_03: But ultimately, it's 80 some thousand out.
• 26:33
  SPEAKER_03: I knew they were giving us 30,000, but I also knew that we'd probably need another 50,000 on top of that.
• 26:39
  SPEAKER_03: So at the end of the day, just for people running their numbers, I bought eight units with a partner.
• 26:43
  SPEAKER_03: My total out-of-pocket cash was$112,500.
• 26:47
  SPEAKER_03: I know that because I refinanced it the next year, and the bank said, How much do you want?
• 26:51
  SPEAKER_03: And I said, I know I could pull more equity, but I just want the cash that I put in it.
• 26:55
  SPEAKER_03: And so we took the exact amount back out with what we what we had in.
• 27:00
  SPEAKER_03: So that was the biggest fear.
• 27:02
  SPEAKER_03: $112,500, I don't care who you are, you know, if you're getting into this game and you're new, that's a lot of money.
• 27:08
  SPEAKER_03: So it's the potential that I could lose this money.
• 27:11
  SPEAKER_03: What if we don't get it renovated in time?
• 27:12
  SPEAKER_03: What if we can't get it leased out in time?
• 27:14
  SPEAKER_03: What if we don't get the rental amounts that we want, right?
• 27:17
  SPEAKER_03: All of those were the basic fears.
• 27:20
  SPEAKER_03: But to combat that, all I told myself was, hey, at 50% rental, this thing pays the mortgage, right?
• 27:27
  SPEAKER_03: It doesn't make me any money, kind of breaks even.
• 27:30
  SPEAKER_03: I'm gonna have a hundred grand sunk into it.
• 27:32
  SPEAKER_03: But like I always think about my worst case scenario.
• 27:34
  SPEAKER_03: Am I gonna die?
• 27:35
  SPEAKER_03: No, okay.
• 27:36
  SPEAKER_03: Well, what's the real worst case?
• 27:37
  SPEAKER_03: The real case is I have a hundred grand tied up in a property that I don't make any money on.
• 27:42
  SPEAKER_03: That's that's the worst case.
• 27:44
  SPEAKER_03: And if I can get past that worst case, then I can move on to my my real scenarios, which are I'm probably gonna make money, but how much money will I make?
• 27:51
  SPEAKER_00: Right?
• 27:51
  SPEAKER_00: Putting that that type of money down is like that's intimidating, but first off, you have to have it.
• 27:58
  SPEAKER_00: And I know I know where I was, I was looking at real estate investment at the time, uh, early in my career, as a way to start getting money coming in.
• 28:08
  SPEAKER_00: It wasn't that that I was like, oh, here's some money that I have set aside, let me put it to work for me, uh, which is obviously the smarter, wiser route.
• 28:17
  SPEAKER_00: Um, I was like, hey, this could be an option for me to start generating some extra money because I wasn't doing so hot back then.
• 28:23
  SPEAKER_00: And and that that's what fucked me up.
• 28:26
  SPEAKER_00: So obviously, yes, you can buy homes with zero down, there's creative financing strategies, there's all that stuff, it exists, right?
• 28:33
  SPEAKER_00: But for those that are intimidated already and you just want to get in the game, it sounds like your advice is solid.
• 28:40
  SPEAKER_00: Like, start saving some damn money.
• 28:42
  SPEAKER_00: But how much should they save?
• 28:44
  SPEAKER_00: Like, how much can you can you really do some damage with?
• 28:47
  SPEAKER_03: I I honestly think that you can do it with as little as 20,000 like safely, but I would love, and again, if anybody wants to reach out to me, they're welcome to.
• 28:57
  SPEAKER_03: I'll walk you through.
• 28:58
  SPEAKER_03: If you want hard money, like I'll walk you through that too.
• 29:00
  SPEAKER_03: I don't care.
• 29:00
  SPEAKER_03: But I I think 50,000 is like a sweet number.
• 29:04
  SPEAKER_03: Because again, I went with 112 and I bought eight.
• 29:07
  SPEAKER_03: And again, that was 50% of what we needed, but even if you cut that in half with six figures, you should really start being able to get into some kind of quadplex depending on what market you're in, right?
• 29:15
  SPEAKER_03: If you just want to build singles and you're already a realtor, you already have MLS data.
• 29:20
  SPEAKER_03: Like put a feed on and don't be lazy in the morning and wake up and look at everything that's coming into MLS and be ready to throw an offer in on it before anybody else that's cash with no inspection, with no appraisal, with no anything, and lock it down.
• 29:32
  SPEAKER_03: Because guess what?
• 29:33
  SPEAKER_03: Bad agents are listing that crap all the time.
• 29:36
  SPEAKER_03: I mean, the amount of deals that I've gotten because I've thrown something out, not a lowball offer, right?
• 29:40
  SPEAKER_03: Not the guy that's coming in and just writing 100,000 under offers all the time and seeing if something sticks.
• 29:45
  SPEAKER_03: Don't waste your time.
• 29:46
  SPEAKER_03: But when you see a deal come up, just be ready to jump on it.
• 29:48
  SPEAKER_03: Like meet wholesalers, do business with them, sell some of their houses so that they start calling you, and then you look at their deals and be like, this is a good one.
• 29:56
  SPEAKER_03: I'm gonna take it.
• 29:57
  SPEAKER_03: I'm not gonna give it to this investor, I'm gonna come in.
• 29:59
  SPEAKER_03: 50,000 is good because if you want regular financing, that's typically is enough that you can go put 20% down and have some renovation money if you want to do it that way.
• 30:09
  SPEAKER_03: If you don't want to finance it normally because you're like, man, I really got to lock this thing down and they don't want normal financing.
• 30:15
  SPEAKER_03: I gotta write this thing cash and you want to run it hard.
• 30:17
  SPEAKER_03: Again, at least you can give it a hard money lender.
• 30:19
  SPEAKER_03: Maybe he wants 10% down.
• 30:21
  SPEAKER_03: So you go buy a$100,000 property, you only need 10% down plus whatever your points in closing are.
• 30:27
  SPEAKER_03: Maybe that's another five to ten, so you're 20.
• 30:29
  SPEAKER_03: Now that 30 is your rental budget, right?
• 30:32
  SPEAKER_03: But it's also gonna pay your hard money payments, it's gonna do everything you need to do while you're turning that property over.
• 30:37
  SPEAKER_03: And then your goal is six months, you're out of there, right?
• 30:40
  SPEAKER_03: You can easily get a refinance done within six months.
• 30:43
  SPEAKER_03: Some banks will do less, but even if you just said, hey, I got 50 grand to start, I'm gonna do one every six months, that's two a year.
• 30:49
  SPEAKER_03: Right.
• 30:49
  SPEAKER_03: 50 grand is getting you into two a year, and again, I'm not saying you can't find out like my hard money guy will give me money without me giving him anything.
• 30:57
  SPEAKER_03: Like if I call him and I'm like, I need a 200 grand right now, and he's like, How much is the project gonna cost you?
• 31:01
  SPEAKER_03: I'm like, uh like 190, but I gotta pay you some mortgage payments and stuff like that, right?
• 31:04
  SPEAKER_03: It's like, he's gonna do it because he trusts me, right?
• 31:06
  SPEAKER_03: I've held three, four million dollars out with him at one point.
• 31:09
  SPEAKER_03: You have a track record.
• 31:10
  SPEAKER_03: Yeah, but they're but the realistic outlook is that someone's gonna want 10% down, 20% down, and then you gotta have that buffer because if for some reason you run out of money from them and you're still renovating because you didn't realize all your joists were bad or your HVAC was broken or whatever, right?
• 31:27
  SPEAKER_03: Like you want to have that cushion.
• 31:28
  SPEAKER_03: So I could sit here and be that guy that's gonna fluff you up and say, oh man, 10 grand, we can build your rental portfolio.
• 31:34
  SPEAKER_03: Yeah, we can, but if one thing goes wrong, you're probably screwed.
• 31:38
  SPEAKER_03: 50 grand, you can buy two every single year, keep 50,000 in equity, and essentially you're making 100k in equity every year.
• 31:45
  SPEAKER_03: By year five, figure out what you want to do with it.
• 31:47
  SPEAKER_03: You got 500 grand in equity.
• 31:49
  SPEAKER_03: Do you want to start selling the first two and just making 150 to 200 grand a year, buying two and selling two?
• 31:54
  SPEAKER_03: Or do you want to keep them forever and build it?
• 31:56
  SPEAKER_03: Or do you want to roll them into you know a multi-purchase, right?
• 31:59
  SPEAKER_03: I mean, sky's the limit.
• 32:00
  SPEAKER_03: But I think 50,000 is what I would tell most investors if they were to call me.
• 32:04
  SPEAKER_00: That that's solid.
• 32:04
  SPEAKER_00: I I wish someone was honest with me in the beginning and just said, look, like don't you need 50k.
• 32:10
  SPEAKER_00: I would have said, okay, cool, let's go put together 50k.
• 32:14
  SPEAKER_00: I most agents have a spending problem.
• 32:16
  SPEAKER_00: They don't really have an earning problem.
• 32:18
  SPEAKER_00: They have a spending problem.
• 32:19
  SPEAKER_00: And so I was at uh I was shopping at the mall yesterday with my family, just watching people just throw thousands of dollars around on plastic shit for people that they uh probably don't even like that much, and then they they don't have any money left over for themselves.
• 32:34
  SPEAKER_00: Like we have it so backwards as a society, and our industry is no different.
• 32:38
  SPEAKER_00: So if Jared here at 33 years old is saying, I have 123 properties that I own, um go get 50k and you can get in the same game, you should probably do that.
• 32:49
  SPEAKER_00: Like start paying yourself.
• 32:50
  SPEAKER_00: I need to do a better job of that.
• 32:52
  SPEAKER_00: You know?
• 32:53
  SPEAKER_00: I think we focus on well I'll just make more money.
• 32:55
  SPEAKER_00: Well, it's not really that easy, is it?
• 32:57
  SPEAKER_00: Um because you're spending just if you have bad spending habits, it just they increase as your income does.
• 33:03
  SPEAKER_00: So what what can you around that topic, what advice do you have for your agents?
• 33:10
  SPEAKER_00: Anyone who is like, hey Jared, I I want to join your team so I can learn to do what you're doing, and they are working on the financing.
• 33:18
  SPEAKER_00: Like, how do they how do they do this?
• 33:20
  SPEAKER_00: What else do you tell them?
• 33:22
  SPEAKER_03: So so the the good thing about I guess if you're on my team or you're in my our network really is that if I I'm trying to partner and help you.
• 33:30
  SPEAKER_03: So my my the hardest thing for me in this business is finding the deal, right?
• 33:35
  SPEAKER_03: Like when you're a new agent, you don't have money and you've got time, like you can go out and find the deal, but then like it's hard for you to consolidate the deal because you don't necessarily have the money to do it.
• 33:44
  SPEAKER_03: Then you start to get where you're like, you know, successful and you're selling 50 houses or 100 houses a year, now you're making the money.
• 33:50
  SPEAKER_03: But to sit there and just scour properties and look through garbage to find a good rental, right?
• 33:55
  SPEAKER_03: That's when you start losing it.
• 33:56
  SPEAKER_03: For the people that are tied with me, a lot of times what I tell them is if you find the deal, I'll I'll write a check for it if we have to, or I'll I'll hard money it with you, I'll walk you through it.
• 34:08
  SPEAKER_03: Maybe it's not a 50-50 ownership thing, right?
• 34:10
  SPEAKER_03: You know what I mean?
• 34:11
  SPEAKER_03: They may not deserve 50%, but depending on what it is, maybe maybe it is.
• 34:15
  SPEAKER_03: You know, we found one the other day and it was just one I didn't want.
• 34:18
  SPEAKER_03: And I told my agents, look, I don't want it, but uh I know somebody that will.
• 34:21
  SPEAKER_03: I can call anybody in our line right this second that I know I flip with, they'll they'll probably take it.
• 34:25
  SPEAKER_03: I just don't want the area.
• 34:26
  SPEAKER_03: Uh whatever I mark it up for them, like I'll split it with you 50-50, right?
• 34:30
  SPEAKER_03: So that was a 50-50 deal because I knew even if I had to put the cash out, it's only for a day.
• 34:34
  SPEAKER_03: And then, you know, my guy can make 7,500, 10 grand, I can make 7,500, 10 grand, and then I'll move on to the next thing, right?
• 34:40
  SPEAKER_03: Um, so that's kind of the people that I'm I'm that are around me, that are close to me.
• 34:45
  SPEAKER_03: That's really what I'm telling them.
• 34:47
  SPEAKER_03: Don't let the lack of financing mess you up.
• 34:49
  SPEAKER_03: If you want to go find the deal, we're gonna find a creative way to make sure that it gets financed or it gets bought and we turn it over and that you make your fair share.
• 34:56
  SPEAKER_03: The flip side to that is everybody serves their purpose.
• 34:59
  SPEAKER_03: So that's the other thing that I tell everybody I'm tied to, right?
• 35:02
  SPEAKER_03: Hey man, maybe you suck at finding the deal.
• 35:04
  SPEAKER_03: Guess what you need to do?
• 35:05
  SPEAKER_03: Sell some more houses and get some cash so that when you find the guy that's like, I keep finding all these deals and I can't figure out what to do with them or I can't fund them, now you're the guy that's funding them, right?
• 35:15
  SPEAKER_03: So play your part.
• 35:17
  SPEAKER_03: If you're like, I don't have money, I don't sell, I don't find the deal, I don't well, guess what?
• 35:20
  SPEAKER_03: This game may not be for you.
• 35:22
  SPEAKER_03: Sorry.
• 35:22
  SPEAKER_03: Like, you know what I mean?
• 35:23
  SPEAKER_03: Like I have 123 doors because I got up every day and I fought to find the deal or or partner with the people that found the deal or brought the value that said we want him in on this deal, or or vice versa, right?
• 35:34
  SPEAKER_03: So you either have to have the value to say, I'm boots on the ground, I'm gonna make sure all of these trades do their crap, that we get it done within 60 days, that the bank wants to finance this out because my credit's good, my inscome good, right?
• 35:45
  SPEAKER_03: Or you're like, man, I can find these deals, but my credit's crap, and a bank would never loan me money.
• 35:49
  SPEAKER_03: Well, guess what you need?
• 35:50
  SPEAKER_03: You need a partner like me or somebody else.
• 35:52
  SPEAKER_03: It's like, hey man, I'll write the check, we'll finance it out, no big deal.
• 35:55
  SPEAKER_03: So my advice to anybody is know your value.
• 35:57
  SPEAKER_03: If you if you can have value and you save money and you find the deal and you know how to be boots, like that's great.
• 36:03
  SPEAKER_03: You don't even need a partner, right?
• 36:06
  SPEAKER_03: But at some point, even if you can do all of it, you may get tired of it.
• 36:08
  SPEAKER_03: You may be like, man, I'm easy at writing the checks, but I don't want to manage, like on my biggest year, I bought the 28, but I also flipped, I think, like eight.
• 36:17
  SPEAKER_03: So I turned 36 in a year, right?
• 36:19
  SPEAKER_03: So it's three a month that we were renovating.
• 36:21
  SPEAKER_03: So, you know, with something like that, it's like, yeah, maybe I have the ability, but do I have the time to make sure three properties a month are getting turned over?
• 36:29
  SPEAKER_03: No, not at all, right?
• 36:31
  SPEAKER_03: Do I have the ability to finance all of these at the end?
• 36:34
  SPEAKER_03: Maybe, but I like the idea that I've got somebody else with strong finances that we call a bank, they're like, we want to give you money on this.
• 36:41
  SPEAKER_03: We'll finance five of these for you right now.
• 36:43
  SPEAKER_03: We'll finance ten of these for you right now, right?
• 36:45
  SPEAKER_03: So that that's the thing.
• 36:46
  SPEAKER_03: Whatever your value proposition is, freaking make it strong and find somebody that that fills the void where your value is not, or or you better learn to fill the void if you want to go in this solo.
• 36:58
  SPEAKER_00: You mentioned a couple things.
• 37:00
  SPEAKER_00: The first, you mentioned a while ago that I think is important to highlight, and then I'm I'm gonna take this in a totally different direction.
• 37:06
  SPEAKER_00: It's important.
• 37:07
  SPEAKER_00: Um you mentioned to become friends with and buddy up to the wholesalers.
• 37:12
  SPEAKER_00: You know, that this is no different than if you're an agent and you're looking for lead sources, like you go to Zillow and you buddy up with Zillow and you buddy up with your Facebook ads and with Homes for Heroes and whatever Google ads, whatever your lead sources are, wholesalers, people that are going out there finding deals and they just want to hand it off to someone for a referral fee.
• 37:33
  SPEAKER_00: If you know a bunch of those people, there's your lead sources.
• 37:36
  SPEAKER_00: Like they they can just hand you a deal, you pay them a wholesale fee for for that service, and then you take it over.
• 37:43
  SPEAKER_00: So like it it doesn't have to be so hard.
• 37:46
  SPEAKER_00: And uh and that's that's worth mentioning.
• 37:48
  SPEAKER_00: But also why I think you have to reverse engineer what you want, right?
• 37:53
  SPEAKER_00: I I think most people would say they want to get into real estate investment for the cash flow.
• 38:00
  SPEAKER_00: Okay.
• 38:01
  SPEAKER_00: Is that the only way?
• 38:02
  SPEAKER_00: Right?
• 38:04
  SPEAKER_00: I know a lot of wealthy people that don't uh get into real estate investment uh actively themselves at all.
• 38:10
  SPEAKER_00: They just invest in a real estate investment trust or a real estate fund.
• 38:15
  SPEAKER_00: So they're still in real estate, they still have some ownership in a syndication or whatever, but they're like, here, here's my money, you go, you go do it, and I just want to return from it.
• 38:24
  SPEAKER_00: So you don't have to do all this, but if you want to, this is how you do it.
• 38:29
  SPEAKER_03: And and the syndication thing may not be a bad idea just from a work to return standpoint, because right now that for a second.
• 38:38
  SPEAKER_00: What is a syndication?
• 38:39
  SPEAKER_00: Because I don't think most agents really know what that is.
• 38:42
  SPEAKER_03: Yeah, so so a syndication is essentially a a a group or person that comes together and buys into a property, but rather than them putting up all the money, they're the ones that found the deal, they're gonna do the work.
• 38:54
  SPEAKER_03: They're probably not going to manage it.
• 38:56
  SPEAKER_03: Some managers are syndicators, but most of the time you're still gonna have an actual property manager that comes in.
• 39:01
  SPEAKER_03: But then whatever money that's needed, they're gonna raise that from outside investors, and then they're gonna typically give them the lion's share of the ownership.
• 39:09
  SPEAKER_03: So the way that I've seen it broken down a lot of times is let's say it's a$10 million property and you've got to raise$2 million, right?
• 39:17
  SPEAKER_03: They're gonna raise that$2 million.
• 39:19
  SPEAKER_03: Maybe they have some skin in the game.
• 39:21
  SPEAKER_03: If if if you're a syndicator and you're proven, maybe you got nothing.
• 39:26
  SPEAKER_03: Maybe you come to the table and you're like, I'm not putting a dollar in, I've I've proven that I know what I'm doing.
• 39:30
  SPEAKER_03: And people may be okay with that.
• 39:32
  SPEAKER_03: But let's say you say, look, I'm gonna put 200 grand in, I'm gonna raise the other 1.8 million, right?
• 39:36
  SPEAKER_03: That$2 million, there's your equity split now.
• 39:39
  SPEAKER_03: And most of the time, that syndicator is gonna give away 70% of the profit, right, on that 2 million bucks.
• 39:47
  SPEAKER_03: Which means if he put up 200 grand, that's 10% of the 2 million.
• 39:51
  SPEAKER_03: He's taking 10% of that 70 because he is still an equity partner.
• 39:56
  SPEAKER_03: But now that other 30% that's left, he's gonna take those profits as being the guy that syndicated it.
• 40:02
  SPEAKER_03: He raised the money, he did the work.
• 40:04
  SPEAKER_03: You just sat back and wrote a check.
• 40:06
  SPEAKER_03: So you wrote your$200,000 but did nothing, you're gonna make the same profit he makes on his$200, but you're not gonna get the profit out of that$30,000.
• 40:14
  SPEAKER_03: The flip side though, 70% still the lion's share.
• 40:16
  SPEAKER_03: If you go to turn that building over and you sell it in five years, guess what?
• 40:19
  SPEAKER_03: That equity is getting split and you're taking your portion of that 70%.
• 40:23
  SPEAKER_03: If they're breaking down and doing uh cost segregation, right, and you're doing your depreciation, uh, most syndicators are gonna give you your portion of that cost segregation or that depreciation.
• 40:35
  SPEAKER_03: Now that's something you want to check into.
• 40:36
  SPEAKER_03: It's a whole nother store, it's a whole nother podcast.
• 40:38
  SPEAKER_03: Um, but you'd want to make sure that you're getting the depreciation on that.
• 40:42
  SPEAKER_03: But again, typically, as somebody that would be a limited partner, an LP, and a syndication, what you'd be shooting for on most deals is probably 8% a year on your money, right?
• 40:52
  SPEAKER_03: Just standard.
• 40:53
  SPEAKER_03: And then typically a waterfall payoff if they're gonna do some kind of refinance at some point within a few years, or just a giant waterfall or a sellout, right?
• 41:02
  SPEAKER_03: Where five years they're gonna turn that building and they're gonna get rid of it, and that's where you take the lion share of that appreciation.
• 41:07
  SPEAKER_03: But most of them are shooting for a 16 to 20% return overall.
• 41:12
  SPEAKER_03: So maybe it's 8% a year.
• 41:13
  SPEAKER_03: So if you put in 200 grand, right, you're gonna get 16 grand every single year for five years.
• 41:19
  SPEAKER_03: And then when they sell it out, you're essentially gonna get that same 16 grand times five for the five years, multiplied at one time plus your equity back.
• 41:26
  SPEAKER_03: So now you get your you know, 16% all up front or your 10, 20% all altogether, but you still get your money each month or quarter or year.
• 41:36
  SPEAKER_03: So if you're trying to do this by yourself and you go buy one house, yeah, you own the house yourself, but you have to do all the work.
• 41:42
  SPEAKER_03: You do get the depreciation, you do own the asset, you are paying it off.
• 41:45
  SPEAKER_03: I think there's value in both, but in this market, if you're like, dang, these things are selling at five caps, and then I buy it, and it's only gonna make me five percent on my cash, cash on cash.
• 41:56
  SPEAKER_03: If I could take that same and make eight to ten percent, and then also get another eight to ten percent compounded each year by year five, it's it's worth looking into.
• 42:05
  SPEAKER_00: And save a ton of time, right?
• 42:07
  SPEAKER_00: That's the thing.
• 42:08
  SPEAKER_00: Like, what you do takes time, and it takes time away from selling homes and supporting your agents and growing your real estate team.
• 42:15
  SPEAKER_00: Like, you only have 24 hours, just like the rest of us.
• 42:18
  SPEAKER_00: So it and I'm not saying it's not worth doing, but you just have to be honest with what you want to get out of it.
• 42:24
  SPEAKER_00: Like, my my mom and I had a conversation a few months ago.
• 42:27
  SPEAKER_00: She's like, hey, I have this this this money, I really want to put it to work in real estate.
• 42:32
  SPEAKER_00: Like, where do I get started?
• 42:33
  SPEAKER_00: And she's thinking she wants to flip homes, and I'm like, the learning curve there is insane.
• 42:38
  SPEAKER_00: It is it's insane.
• 42:40
  SPEAKER_00: So just go earn eight to ten percent and do nothing.
• 42:44
  SPEAKER_00: Like you're you're literally just writing a check.
• 42:46
  SPEAKER_00: You just have to choose wisely.
• 42:47
  SPEAKER_03: Yeah.
• 42:48
  SPEAKER_03: So I'm an advocate for all of the above because some of what I own is partnerships where I've just raised money and I'm in on the partnership, and that's great because I know, yeah, I guess they could screw up and it could crash and burn.
• 43:00
  SPEAKER_03: But as long as they do their job, then I know I'm gonna get my returns and I'm good.
• 43:03
  SPEAKER_03: And then I've got stuff where I where I own it and I I'm meeting the appraisers and I'm refinancing and I'm putting my personal guarantee on there, right?
• 43:10
  SPEAKER_03: So it's a mix of all of it.
• 43:11
  SPEAKER_03: And I'm single family, I'm multifamily, I'm modular row house.
• 43:16
  SPEAKER_03: I mean, I I am all about whatever turns the the cash on cash return for me, right?
• 43:22
  SPEAKER_03: And so I don't think there's one way to skin this cat.
• 43:24
  SPEAKER_03: Like, you just gotta figure out what do I want?
• 43:27
  SPEAKER_03: Do I want, you know, 20 multifamilies?
• 43:29
  SPEAKER_03: Do I want 20 single families?
• 43:30
  SPEAKER_03: Do I want some mixed use?
• 43:32
  SPEAKER_03: You just gotta figure it out and go for it and learn your numbers.
• 43:34
  SPEAKER_03: That that's and why do you want those things?
• 43:38
  SPEAKER_03: Yeah, and and to me, uh, you know, just your shirt says it all.
• 43:41
  SPEAKER_03: Yours is freedom.
• 43:42
  SPEAKER_03: You know, I want to do what I want, when I want, with who I want for as long as I want, right?
• 43:45
  SPEAKER_03: So to be able to do that, I need at least a certain amount of cash flow.
• 43:49
  SPEAKER_03: And so I shoot for 10%.
• 43:50
  SPEAKER_03: That's just me.
• 43:51
  SPEAKER_03: I think you can do less in this market, or you can do less and know you have a value add.
• 43:56
  SPEAKER_03: But a lot of my stuff is infinite, right?
• 43:58
  SPEAKER_03: I mean, the apartment building, I refinanced.
• 44:00
  SPEAKER_03: I pulled$935,000 back out.
• 44:02
  SPEAKER_03: It paid for all of the cash we had in the building.
• 44:04
  SPEAKER_03: It's worth$1.95 now.
• 44:06
  SPEAKER_03: So I have a million dollars in equity in that building.
• 44:08
  SPEAKER_03: What, 36 months later, whatever that is, it cash flows, I think$5,000 a month or something like that with no dollars in, right?
• 44:16
  SPEAKER_03: So that's like a home run return, right?
• 44:17
  SPEAKER_03: That's one where you're like, man, five grand a month.
• 44:19
  SPEAKER_03: I got no money in it.
• 44:20
  SPEAKER_03: It's paying itself down.
• 44:22
  SPEAKER_03: We're depreciating the asset.
• 44:23
  SPEAKER_03: Like it's fantastic.
• 44:24
  SPEAKER_03: It's a home run.
• 44:25
  SPEAKER_03: But the flip side is if a worst case is I make 10% on my cash and I don't get my cash out, I'm not gonna cry about it at night because I know that I'm gonna throw this cash every year.
• 44:36
  SPEAKER_03: And if I can refinance it and redo it and get another 10% on it again, then it's it's a it's a real it's a real win.
• 44:41
  SPEAKER_03: But even if I just took no cash back out, I just get 10% on the money that I can invest every year, then I know that by the time I'm 35, 36, like I'm fine.
• 44:52
  SPEAKER_03: We're we're cool, we're just doing this for fun at this point.
• 44:54
  SPEAKER_03: And that's really the goal for me is to do what I want with who I want, when I want, for as long as I want.
• 45:00
  SPEAKER_00: Let me get inside your brain here because it's been so prominent in it everyone that talks about real estate investment over the last five years or so.
• 45:10
  SPEAKER_00: It's been, you know, buy it whatever the birth thing is.
• 45:14
  SPEAKER_00: Like you refinance at some point to do a cash out refi, and you take all your equity out.
• 45:19
  SPEAKER_00: And and the thinking there is that you you take that equity and you go buy something else.
• 45:24
  SPEAKER_00: Like now you have more cash to then go do it again and again and again and it just keeps growing, right?
• 45:29
  SPEAKER_00: It sounds like you decided to just take your cash out and not all the equity, so that you there was a little bit more safety net.
• 45:35
  SPEAKER_00: Is that you're valuing safety a little bit more than a lot of the gurus?
• 45:40
  SPEAKER_03: I value safety heavily, you know, and and at the end of the day, I guess you can factor well, I'm young, so I could be a little more risky.
• 45:48
  SPEAKER_03: And and and I am.
• 45:49
  SPEAKER_03: I bought 28 houses on hard money at one time.
• 45:52
  SPEAKER_03: Like if there's not much more risky than that, I don't know.
• 45:56
  SPEAKER_03: Right.
• 45:56
  SPEAKER_03: But but but the flip side is I'm always so safe on my numbers, right?
• 46:00
  SPEAKER_03: Like, even on flips, I've never to this day, we'll see how the end of the year goes, I've never lost a money on a f on a on a flip.
• 46:08
  SPEAKER_03: And it's because I always like I will pass on it if it's not gonna turn the profit I want.
• 46:13
  SPEAKER_03: You know, if you know you want to go out and flip and make 15 grand, go for it.
• 46:17
  SPEAKER_03: But man, if all your trusses are bad with wood as bad as it is, or one HVAC unit kicks the bucket, you just lost all your profit.
• 46:23
  SPEAKER_03: And now, like you said, it's it's a sharp learning curve, it's a lot of work, it's a lot of time, it's a lot of effort.
• 46:28
  SPEAKER_03: You just put a lot of stuff into something that's not gonna make you any money.
• 46:30
  SPEAKER_03: So I I'm gonna make a certain amount on everything I do because I we don't know all the all the unknowns, right?
• 46:37
  SPEAKER_03: When we bought the 28 houses, we didn't know that a worldwide pandemic was gonna hit, right?
• 46:41
  SPEAKER_03: And you know, it doesn't matter what your opinion on COVID is, like it doesn't matter because guess what?
• 46:47
  SPEAKER_03: The government's opinion was you guys can stay in your house and not pay for rent, and it's okay, right?
• 46:52
  SPEAKER_03: Like, it doesn't matter what your stance was, we didn't see that coming.
• 46:56
  SPEAKER_03: So the fact that we were able to still get through that, refinance every property, even though we had people when we bought those properties, six or seven of them hadn't paid for six months to a year, we took them over, said, Hey, let's evict these people, and then the the memorandums hit and they said, No, you can't.
• 47:10
  SPEAKER_03: And you're like, Well, look, it's not COVID.
• 47:12
  SPEAKER_03: This guy hasn't been paying for seven months.
• 47:14
  SPEAKER_03: That's not the problem.
• 47:15
  SPEAKER_03: Well, it doesn't matter.
• 47:16
  SPEAKER_03: Now he gets to stay for another seven months, right?
• 47:19
  SPEAKER_03: We didn't factor any of that stuff.
• 47:21
  SPEAKER_03: Yet when it was all said and done, a$2.5 million project, we're in it for$2.65, technically.
• 47:27
  SPEAKER_03: It's worth$4.4 based on my appraisal estimates right this second.
• 47:32
  SPEAKER_03: So we got$1.7 million in equity.
• 47:34
  SPEAKER_03: We were off on our budgets by$15,000.
• 47:38
  SPEAKER_03: So at the end of the day, a$2.7 million project, I had to stroke a check for less than$10,000 to split the difference to fund the account at the end after a worldwide pandemic completely crushed rents for seven months.
• 47:52
  SPEAKER_03: So I'm always gonna err on the side of caution, and maybe I don't get ahead quite as fast as somebody else that takes those risks and hit those losses.
• 48:00
  SPEAKER_03: But I'm cool with 123 doors in three years because my goal was a hundred and I hit that in three years.
• 48:05
  SPEAKER_03: So now my goal is 500 doors in the next five, and I think we'll hit that too.
• 48:09
  SPEAKER_03: So I'm I'm I'm good with it.
• 48:11
  SPEAKER_00: I I'm just curious, during during COVID when there was that foreclosure or eviction memor uh whatever it's called, memorandum.
• 48:18
  SPEAKER_00: Is that what it's called?
• 48:19
  SPEAKER_00: Moratorium.
• 48:20
  SPEAKER_00: The moratorium.
• 48:21
  SPEAKER_00: That's the one, yeah.
• 48:22
  SPEAKER_00: Uh what how many uh like what percentage were it were still paying the rent?
• 48:28
  SPEAKER_03: So Was it most?
• 48:30
  SPEAKER_03: Most were still paying.
• 48:32
  SPEAKER_03: We had the people that just weren't paying before and they stopped.
• 48:36
  SPEAKER_04: Yeah.
• 48:36
  SPEAKER_03: Right?
• 48:36
  SPEAKER_03: And then you had some new people get in and stop.
• 48:40
  SPEAKER_03: But what a lot of people didn't realize, especially if you only had like one rental, is most of the government programs would cover your rent.
• 48:47
  SPEAKER_03: You just had to fill out the paperwork.
• 48:49
  SPEAKER_03: And when it was up to the tenants to be able to fill it out, none of the tenants would fill it out because they don't care about their credit or their life or their rental.
• 48:56
  SPEAKER_03: If you're gonna be that guy that's just not gonna pay for a year, like you you're assuming all of your stuff sucks, right?
• 49:03
  SPEAKER_03: Like you're not at all, anyways.
• 49:05
  SPEAKER_03: Yeah, exactly.
• 49:06
  SPEAKER_03: But once they said, hey, we're gonna let the landlords fill this out, then we were golden.
• 49:10
  SPEAKER_03: We had our management companies fill it out for us.
• 49:13
  SPEAKER_03: Hey, come in for a Starbucks gift card, sign off on this thing so we can send it in for you.
• 49:16
  SPEAKER_03: And we actually had you know$30,000,$40,000 in rent relief sent to us um to help out.
• 49:22
  SPEAKER_03: But that has since ended.
• 49:23
  SPEAKER_03: The funds run out, you know, we're kind of past all that stuff.
• 49:26
  SPEAKER_03: Um, but now we're back to evictions, too.
• 49:28
  SPEAKER_03: So we were able to, you know, start pushing evictions again and and move forward.
• 49:31
  SPEAKER_03: So I know that's like you know, I know that's another subject, but it just goes to show how good you are at reading the market.
• 49:39
  SPEAKER_03: It's like the book, The Psychology of Money.
• 49:41
  SPEAKER_03: It's got a great chapter in that book about the fact that we think we can judge whatever, like life, life changes, but you can't.
• 49:50
  SPEAKER_03: You can't look at things like the effect of like 9-11 and see how that jacked up so much stuff.
• 49:55
  SPEAKER_03: Like when they break the chapter down, just how that one event, you no economist could call that because it was a random event, just like the pandemic.
• 50:02
  SPEAKER_03: You just couldn't call it.
• 50:03
  SPEAKER_03: So, to me, I want to make sure that I'm never making an investment that's gonna cost me my home, that's gonna cost me my livelihood, you know, and if it takes me a little bit longer to hit 500 doors or a thousand doors, I'm cool with it.
• 50:15
  SPEAKER_03: Because I go to sleep every night and I wake up super chill, you know, super energized, super happy, because I know that maybe not everything is the right decision, but if it's the reasonable and rational decision that lets me sleep at night, then I'm okay with it.
• 50:32
  SPEAKER_00: I love that.
• 50:33
  SPEAKER_00: Yeah.
• 50:33
  SPEAKER_00: You don't have to leverage the shit out of everything to have it be a winner and for it for it to be a great decision.
• 50:40
  SPEAKER_03: And to be fair, you are talking to a guy that loves to leverage everything except somewhere saying I am that guy that will leverage and buy at my age.
• 50:47
  SPEAKER_03: But you know, it's like paying your house off, right?
• 50:49
  SPEAKER_03: It's like the dumbest thing you could ever do is pay your house off, right?
• 50:52
  SPEAKER_03: It is.
• 50:52
  SPEAKER_03: And if you're listening to this and you're like, I love Dave Ramsey, and you're wrong.
• 50:55
  SPEAKER_03: Like, no, you're wrong.
• 50:56
  SPEAKER_03: Statistically, it's the worst.
• 50:57
  SPEAKER_04: We're not gonna do that.
• 50:58
  SPEAKER_03: But but at some point, I may like, you know, sell my exp stock and like sell my buy my pay my house off, right?
• 51:05
  SPEAKER_03: Just for again, it's not the smart thing, but it's the rational thing to say, like, oh, I now I have zero debt, right?
• 51:11
  SPEAKER_03: I get it.
• 51:11
  SPEAKER_03: I mean, it would make much more sense to sell it, go buy a lake house, Airbnb it, have a lake house, pay for my mortgage, do all that stuff, but you don't know what's coming down the pipeline.
• 51:20
  SPEAKER_03: You know, what happens when you know they Airbnb crashes because they overregulate it, and then my lake house has a$6,000 mortgage on it, and I can't pay it now.
• 51:28
  SPEAKER_03: I owe both, right?
• 51:29
  SPEAKER_03: So there's all these things that I think about.
• 51:30
  SPEAKER_03: And if I can sleep at night and keep it rational, I know we're gonna keep growing because we're, you know, we're grinding on it every day.
• 51:37
  SPEAKER_00: What's really scary is to do nothing.
• 51:40
  SPEAKER_00: Is to just do nothing and like five years from now you're in the same fucking place as you are today, and uh to me that scares the shit out of me is complacency and and just uh lack of growth.
• 51:52
  SPEAKER_00: Like this stagnant, um stagnant life.
• 51:55
  SPEAKER_00: I'm not interested in that whatsoever.
• 51:57
  SPEAKER_00: So uh for those who are listening that that have a decent real estate business, they want to they want to jump in, start getting some rental properties, maybe they want to do some flips, they they just want to start really taking advantage of all the opportunities that come across their their desk.
• 52:16
  SPEAKER_00: You've been running this team.
• 52:18
  SPEAKER_00: Anyone who's in a similar situation, what give us some words of wisdom, some words of caution.
• 52:24
  SPEAKER_00: What did you not expect?
• 52:26
  SPEAKER_00: Uh what what I what I want to get at here is how can they not crush and kill their golden goose, which is their their real estate business, to get into this other real estate investment side of things.
• 52:38
  SPEAKER_03: You know, I guess it really depends on how many deals a year you do, right?
• 52:42
  SPEAKER_03: Because let's say you're us and you can do two to three hundred deals a year.
• 52:46
  SPEAKER_03: Well, I'm not buying two to three hundred deals out of my real estate company, right?
• 52:51
  SPEAKER_03: Maybe I get a few, right?
• 52:55
  SPEAKER_03: Like in a in a best case scenario, maybe you get two flips, right?
• 52:58
  SPEAKER_03: And then maybe you get two two burrs or two two buy and holds, right?
• 53:03
  SPEAKER_03: Well, if you're doing 100 deals a year as a solo agent or even 50, would you take away those four deals if you knew that now you're gonna have two houses and$100,000 in equity at the end of the year and maybe two flips that make you an extra$100,000?
• 53:16
  SPEAKER_03: So I'm gonna replace$20,000 in commission with$200,000 in income and equity and ownership.
• 53:23
  SPEAKER_03: I'd much rather take that hit, right?
• 53:26
  SPEAKER_03: It's the same principle as running a team, right?
• 53:28
  SPEAKER_03: I have 25 agents, I sold less houses than I've ever sold personally this year, and guess what?
• 53:32
  SPEAKER_03: That's exactly what I want.
• 53:33
  SPEAKER_03: I hope in two years I never sell a house again.
• 53:35
  SPEAKER_03: And I hope we're still selling more houses and we're making mortgage and title and commission and everything off of it because that gives me my time and my my profit on that is so much higher than it would be if I just gave it to another investor.
• 53:48
  SPEAKER_03: And again, if you only do five deals a year and they're all investor deals, I still think you should take your four and figure it out because you're gonna make a lot more on those four that you took than the five that you sold.
• 53:58
  SPEAKER_03: But I think the principle applies regardless, right?
• 54:00
  SPEAKER_03: We keep our investors happy.
• 54:01
  SPEAKER_03: We have seven or eight investors, we sell every flip that they they come up.
• 54:04
  SPEAKER_03: They're never like Jared, you're flipping, so we're not gonna sell our flip with you, right?
• 54:08
  SPEAKER_03: It is what it is.
• 54:09
  SPEAKER_03: I find crap I don't want.
• 54:10
  SPEAKER_03: You know what I mean?
• 54:10
  SPEAKER_03: It's in an area I don't want, it's in a price point I don't want.
• 54:13
  SPEAKER_03: It's a gut job, and I don't like dealing with Richmond City permits.
• 54:16
  SPEAKER_03: So I'm just like, forget them.
• 54:18
  SPEAKER_03: You know, they'll sit on my permits for six months, and I don't want to deal with it, right?
• 54:21
  SPEAKER_03: So there's gonna be things, or even just being tapped out.
• 54:23
  SPEAKER_03: Like I said, we did 36 one year.
• 54:25
  SPEAKER_03: At some point, I'm just like, look, man, I got four million dollars out in hard money right this second.
• 54:29
  SPEAKER_03: Cash is okay, but you know, we're paying payments.
• 54:32
  SPEAKER_03: Like at this point, even if I find a good deal, I'm passing it on.
• 54:34
  SPEAKER_03: So you're never gonna be able to do every deal because you're either not gonna be able to handle it, or it's just not gonna be a fit for you.
• 54:42
  SPEAKER_03: Don't force a deal that's not a good deal because you're trying to get in.
• 54:46
  SPEAKER_03: Just wait for the right one and do it.
• 54:47
  SPEAKER_03: And it shouldn't affect your real estate business, it should make it better.
• 54:50
  SPEAKER_03: Because the flip side is for those four that I kept and made an extra 200,000 on, there was another three or four that I found that I didn't want that I didn't, you know, I didn't um flip, but I wholetailed them off, or I wholesaled them off, or I put them in and I made 40 grand on one or 25 grand on another.
• 55:06
  SPEAKER_03: So I can put together another 100,000 income on the deals I don't want, and it's still better than me putting it in the MLS for a 3% commission.
• 55:13
  SPEAKER_03: And you could be listening to this and you'd be like, Jared's a scumbag, right?
• 55:16
  SPEAKER_03: I see those posts all the time on social media, and I'm like, this is from someone that definitely does not make six figures or seven figures a year in this business.
• 55:25
  SPEAKER_00: Jared Davis is a scumbag?
• 55:26
  SPEAKER_03: Not Jared Davis specifically, but like you, you people that go out and do what you do are like are like scumbags and you're you're screwing these.
• 55:35
  SPEAKER_03: No, we're not.
• 55:35
  SPEAKER_03: Like most of the houses I buy, I go in and I'm like, ethically, I'm a realtor.
• 55:39
  SPEAKER_03: I have to give you the best option.
• 55:41
  SPEAKER_03: This is what we could sell it for on MLS, this is how much money you would make, this is what it is, and they're like, well, an investor offered me 50,000 less and I'm just gonna take it.
• 55:49
  SPEAKER_03: And you're like, whoa, whoa, whoa, whoa, slow down.
• 55:52
  SPEAKER_03: Did you not just hear everything I said about how you can make$40,000 more?
• 55:56
  SPEAKER_03: And they're like, Yeah, but I don't want to deal with the realtor, and I don't want to deal with this, and I just want to go to Vegas with my money and do whatever, right?
• 56:01
  SPEAKER_03: Whatever the heck it is.
• 56:03
  SPEAKER_03: And so I give them a better alternative.
• 56:05
  SPEAKER_03: I'm like, look, that guy is a jerk.
• 56:08
  SPEAKER_03: He's just gonna buy the house and not close on it and then sell it to me and make$30,000 and assignment money, and I'm gonna buy it for that.
• 56:15
  SPEAKER_03: So why don't I give you$15,000 more than he offered you, and I'll write you a check right now and we'll close it out if that's what you want, right?
• 56:21
  SPEAKER_03: So I will always look out for the interest of the person.
• 56:24
  SPEAKER_03: You know, it's gonna win for me, regardless.
• 56:28
  SPEAKER_03: I'm not a jerk, I'm not a scumbag, right?
• 56:30
  SPEAKER_03: Like, I'm gonna do what's best for the seller, and because I'm a realtor, right, I do fall under that code of ethics.
• 56:35
  SPEAKER_03: Like I do have to tell people, hey, look, you know, I think this guy's trying to get one over on you.
• 56:39
  SPEAKER_03: This is probably worth this much money.
• 56:41
  SPEAKER_03: And if it works for me, great.
• 56:42
  SPEAKER_03: And if I lose a deal or I put an MLS and I make$40,000 less because I told them that, that's great too.
• 56:48
  SPEAKER_03: Because at the end of the day, again, I go to sleep well knowing that I'm only out to help the people that I talk to.
• 56:55
  SPEAKER_00: Love it.
• 56:55
  SPEAKER_00: And I love your perspective there that looking for investments is not hurting your real estate business, it's it's enhancing it.
• 57:04
  SPEAKER_00: And and even if you you close a few fewer homes through your team, you're you now have four other uh cash-flowing properties that are just gonna keep paying you over and over and over.
• 57:14
  SPEAKER_00: So that's a great reminder that you just have to take a step back, just zoom out for a second and think like what do you want?
• 57:22
  SPEAKER_00: What most agents are doing the equivalent of flipping their entire lives but with buyers and sellers.
• 57:29
  SPEAKER_00: Just one transaction after another, there's zero cash flow.
• 57:32
  SPEAKER_00: So a lot you can do in this business, man.
• 57:35
  SPEAKER_00: And and it's cool to watch what you've done uh as a fairly young agent with a pretty de a pretty dang big team of 25.
• 57:43
  SPEAKER_00: Um that's awesome, man.
• 57:44
  SPEAKER_00: So before we wrap this up, Jared, we do we like to do these rapid fire questions with our guests.
• 57:49
  SPEAKER_00: Yeah.
• 57:49
  SPEAKER_00: And just pick either or one or the other.
• 57:52
  SPEAKER_00: You can elaborate if you choose to, or we can just blow through them.
• 57:55
  SPEAKER_00: And then we'll give everyone a chance to hear where they can connect with you, find you, learn from you, and you know, potentially partner with you on a deal, all of the above.
• 58:05
  SPEAKER_03: Can I can I throw one more tip out for people to look at?
• 58:09
  SPEAKER_03: So everybody knows Burring, right?
• 58:11
  SPEAKER_03: Right?
• 58:11
  SPEAKER_03: It's like anybody listening to this, if you're like buy, renovate, rent, refinance, repeat.
• 58:17
  SPEAKER_03: We're not blowing anybody's mind at this point, right?
• 58:19
  SPEAKER_03: Everybody, everybody gets it for the most part.
• 58:21
  SPEAKER_03: I can come back and talk about it, whoever, a million people can.
• 58:24
  SPEAKER_03: BARK.
• 58:25
  SPEAKER_03: Have you heard the acronym?
• 58:26
  SPEAKER_03: I haven't heard that yet, no.
• 58:28
  SPEAKER_03: All right.
• 58:28
  SPEAKER_03: I didn't make this up, so I'm not like, don't think Jared's a genius.
• 58:32
  SPEAKER_03: He did it.
• 58:32
  SPEAKER_03: It's B-A-R-K.
• 58:34
  SPEAKER_03: But I think, I think, just as a tip, if you're listening to this in this market, what you're finding is you're analyzing deals and the numbers don't work as well with the interest rates.
• 58:42
  SPEAKER_03: Now, if it does work at the interest rate, buy it because rates will come back, you'll be able to refinance, it'll be a great investment if they're working at 6%, right?
• 58:49
  SPEAKER_03: But I think everybody should be looking to bark houses moving forward over the next year.
• 58:54
  SPEAKER_03: It stands for buy, assume, rent, and keep.
• 58:59
  SPEAKER_03: So, what you're gonna be looking for is you're gonna be looking for houses that were bought over the last two years, right?
• 59:06
  SPEAKER_03: You know their interest rates two and a half to three and a half percent, right?
• 59:10
  SPEAKER_03: But you're gonna get a lot of these people that need to sell.
• 59:14
  SPEAKER_03: Maybe they bought when the market was high, they're not able to get what they want with commissions, they they want out of the house, they need out of the house, they can't afford to sell.
• 59:21
  SPEAKER_03: You can assume their mortgages depending on what they are, right?
• 59:24
  SPEAKER_03: So you want to find assumable mortgages that you know are at that two and a half to three and a half percent rate, right?
• 59:30
  SPEAKER_03: You work out the deal with them.
• 59:31
  SPEAKER_03: Maybe they make cash on top, maybe you're just getting them out of the loan, right?
• 59:35
  SPEAKER_03: Depending on where this thing is.
• 59:36
  SPEAKER_03: But if they need to get out and they're about to get foreclosed on, and you know they owe 180,000 and this thing's worth 200,000, right?
• 59:43
  SPEAKER_03: And they can pay no real estate fees and they can get out of it for 180,000 and it costs them nothing, and you just assume the loan, and now you got a loan at 2.5%.
• 59:49
  SPEAKER_03: I guarantee you your rental numbers are gonna be fantastic compared to what they would be if you bought that$200,000 house at a 6.5% interest rate, right?
• 1:00:00
  SPEAKER_03: Whether it's a five-year term, whether it's a 30-year mortgage, however you're doing it, it's gonna be a way you can crush on returns if you figure out how to run the numbers and you figure out how to find them.
• 1:00:11
  SPEAKER_03: That that's my last thing.
• 1:00:12
  SPEAKER_03: All right.
• 1:00:13
  SPEAKER_03: Bark.
• 1:00:14
  SPEAKER_03: I love that.
• 1:00:15
  SPEAKER_03: Bark.
• 1:00:15
  SPEAKER_00: There you go.
• 1:00:16
  SPEAKER_00: Assumable loans.
• 1:00:17
  SPEAKER_00: Like it didn't used to even be something we'd consider, but now it's like, hmm, there's all these two and three percent mortgages out there.
• 1:00:23
  SPEAKER_00: That's an attractive asset in and of itself.
• 1:00:25
  SPEAKER_03: And and and and and depending on what how it goes, you may not have to put that much money down, depending on how you're assuming it, right?
• 1:00:31
  SPEAKER_03: So it's just all the more reason that if you don't have a ton of cash sitting there, man, I'd be looking into to buying, assuming, renting, and keeping over the next year for sure.
• 1:00:40
  SPEAKER_03: You could probably pick up five or ten that way pretty easily.
• 1:00:43
  SPEAKER_00: Love it.
• 1:00:44
  SPEAKER_00: Dude, I'm glad you threw that last piece in there.
• 1:00:46
  SPEAKER_00: Listen to the rapid fire questions, either or, and then you can let everyone know where they can connect with you.
• 1:00:53
  SPEAKER_00: Facebook or Instagram?
• 1:00:55
  SPEAKER_00: Uh, Instagram.
• 1:00:56
  SPEAKER_03: Facebook has banned me for from advertising for life, I think, even on my personal affair because of their stupid algorithms.
• 1:01:02
  SPEAKER_03: Uh lots of dumb rules there.
• 1:01:05
  SPEAKER_03: So definitely Instagram.
• 1:01:06
  SPEAKER_03: Uh it's underscore underscore the Davis Group.
• 1:01:09
  SPEAKER_03: It's the worst Instagram tag ever, but it's out there now, so it's kind of hard to change.
• 1:01:12
  SPEAKER_03: Uh, but it's two underscores the Davis Group.
• 1:01:17
  SPEAKER_03: Uh, there you'll find kind of all of our stuff from selling to our podcast to you know the YouTube channels, all that good stuff.
• 1:01:23
  SPEAKER_03: All right.
• 1:01:24
  SPEAKER_03: Instagram or TikTok?
• 1:01:26
  SPEAKER_03: Uh still Instagram.
• 1:01:27
  SPEAKER_03: Underscore underscore the Davis Group.
• 1:01:29
  SPEAKER_03: Uh my right-hand man, Galen Parker, your realtor's favorite realtor on Instagram.
• 1:01:33
  SPEAKER_03: If you see him, he's all about some TikTok.
• 1:01:35
  SPEAKER_03: I have not uh have not gotten into it.
• 1:01:38
  SPEAKER_03: All right.
• 1:01:39
  SPEAKER_03: Uh books or podcasts?
• 1:01:41
  SPEAKER_03: Podcasts, well, so uh so listening to, I listen to Audible 24-7.
• 1:01:46
  SPEAKER_03: Um podcast, I listen to a couple, but I I stay listening to two or three books at a time.
• 1:01:51
  SPEAKER_03: But we film a podcast too, so we're always running our own.
• 1:01:56
  SPEAKER_03: Podcast or audiobook?
• 1:01:57
  SPEAKER_03: Which do you prefer?
• 1:01:59
  SPEAKER_03: Uh audiobook if I'm listening, for sure.
• 1:02:02
  SPEAKER_03: Yeah.
• 1:02:02
  SPEAKER_03: Again, I two to three.
• 1:02:04
  SPEAKER_03: I'm running at any given time.
• 1:02:06
  SPEAKER_03: Rental property or flipping?
• 1:02:08
  SPEAKER_03: Uh rental all day.
• 1:02:10
  SPEAKER_03: I I I still flip.
• 1:02:11
  SPEAKER_03: I have two flips on the market right now.
• 1:02:12
  SPEAKER_03: I have one I'm wholing right now.
• 1:02:14
  SPEAKER_03: So I got three flip deals going on right this second.
• 1:02:16
  SPEAKER_03: I own 123, but if you add up everything we bought over the last few years, probably more like 160 or so.
• 1:02:22
  SPEAKER_03: Um but flips are a lot of work.
• 1:02:23
  SPEAKER_03: They're good for cash flowing, but as soon as I can stop doing them, I'm gonna stop doing them.
• 1:02:27
  SPEAKER_03: That's right.
• 1:02:28
  SPEAKER_03: Burgers or pizza?
• 1:02:30
  SPEAKER_03: Hmm, burgers all day.
• 1:02:33
  SPEAKER_03: New York or LA?
• 1:02:35
  SPEAKER_03: Hmm.
• 1:02:36
  SPEAKER_03: Ooh, good vibes in both.
• 1:02:37
  SPEAKER_03: LA, I think.
• 1:02:39
  SPEAKER_03: Really?
• 1:02:39
  SPEAKER_03: Okay.
• 1:02:40
  SPEAKER_03: Just the temperature, you know what I mean?
• 1:02:42
  SPEAKER_03: You got like a steady temperature all the time.
• 1:02:44
  SPEAKER_03: I'm a car guy.
• 1:02:45
  SPEAKER_03: You can't drive good cars in New York City.
• 1:02:47
  SPEAKER_03: You just that's true.
• 1:02:49
  SPEAKER_03: It's a shit show to drive anything.
• 1:02:52
  SPEAKER_03: Uh NFL or NBA.
• 1:02:54
  SPEAKER_03: Oh man.
• 1:02:55
  SPEAKER_03: I'm gonna make a lot of listeners mad.
• 1:02:57
  SPEAKER_03: I have no idea.
• 1:02:58
  SPEAKER_03: Formula One, it'd be it'd be F1.
• 1:03:00
  SPEAKER_03: Uh I have no sports background at all.
• 1:03:03
  SPEAKER_03: Okay, fair enough.
• 1:03:04
  SPEAKER_03: Uh Mountains or beach?
• 1:03:06
  SPEAKER_03: Mountains.
• 1:03:07
  SPEAKER_03: I like to snowboard, so yeah, mountains for sure.
• 1:03:12
  SPEAKER_03: Podcast or vlog?
• 1:03:15
  SPEAKER_03: Uh still podcast.
• 1:03:16
  SPEAKER_03: We we film a vlog on our YouTube channel.
• 1:03:19
  SPEAKER_03: Um as far as watching them and stuff like that, yeah.
• 1:03:22
  SPEAKER_03: I still think I think podcast for sure.
• 1:03:24
  SPEAKER_03: Fair enough.
• 1:03:25
  SPEAKER_03: YouTube or Facebook Live?
• 1:03:27
  SPEAKER_03: Uh again, YouTube.
• 1:03:29
  SPEAKER_03: YouTube's great.
• 1:03:29
  SPEAKER_03: We have two channels.
• 1:03:30
  SPEAKER_03: Uh Mega Agent Academy is one, it's agent training, and then one that's more centralized to our area living in Richmond, Virginia.
• 1:03:38
  SPEAKER_03: Um, same thing though.
• 1:03:39
  SPEAKER_03: I love YouTube.
• 1:03:40
  SPEAKER_03: We're we're getting good viewership, good replies.
• 1:03:43
  SPEAKER_03: Uh it's it's the game changer, I think, for our business personally.
• 1:03:47
  SPEAKER_00: YouTube's freaking powerful, man.
• 1:03:48
  SPEAKER_00: It's awesome.
• 1:03:49
  SPEAKER_00: Yeah.
• 1:03:50
  SPEAKER_00: Rich Dad, Poor Dad, or Millionaire Real Estate Agent.
• 1:03:53
  SPEAKER_03: Uh, Rich Dad, Poor Dad, for sure.
• 1:03:55
  SPEAKER_03: You know, I don't I don't know about all Robert Kiyosaki stuff he's saying now.
• 1:03:59
  SPEAKER_03: I see in the news, but Rich Dad, Poor Dad's classic, man.
• 1:04:01
  SPEAKER_03: It's hard to hard to not take something out of that book.
• 1:04:05
  SPEAKER_03: For sure.
• 1:04:05
  SPEAKER_03: Uber or Lyft?
• 1:04:07
  SPEAKER_03: Uber.
• 1:04:09
  SPEAKER_00: I don't even know if I have on my phone.
• 1:04:11
  SPEAKER_00: Really?
• 1:04:12
  SPEAKER_02: I definitely have Uber.
• 1:04:14
  SPEAKER_00: I I would answer Uber, but then I use Lyft all the time because I get Delta Sky Miles when you go to Uber from an airport.
• 1:04:20
  SPEAKER_02: Alright, that makes sense.
• 1:04:21
  SPEAKER_02: Alright.
• 1:04:21
  SPEAKER_00: Then I get Uber gives me Marriott.
• 1:04:24
  SPEAKER_00: Well, whatever.
• 1:04:25
  SPEAKER_00: It's all good.
• 1:04:25
  SPEAKER_00: Uh Gary V or Grant Cardone.
• 1:04:28
  SPEAKER_00: Hmm.
• 1:04:29
  SPEAKER_03: I mean, Grant Cardone's an EXP guy.
• 1:04:32
  SPEAKER_03: I like that.
• 1:04:33
  SPEAKER_03: True.
• 1:04:34
  SPEAKER_00: That's crazy.
• 1:04:35
  SPEAKER_03: You know, man, it's tough.
• 1:04:36
  SPEAKER_03: You know, Gary Vee.
• 1:04:37
  SPEAKER_03: I was gonna say Gary Vee's got so much energy, but so does Grant, man.
• 1:04:40
  SPEAKER_03: It's hard to That's a hard one.
• 1:04:42
  SPEAKER_03: I'm gonna go, I'm gonna go Gary V.
• 1:04:45
  SPEAKER_03: That surprises me.
• 1:04:46
  SPEAKER_03: I took you as uh an Uncle G guy.
• 1:04:48
  SPEAKER_03: You know, I I like them both.
• 1:04:50
  SPEAKER_03: That's why I say it's it's a hard, it's a hard choice, but when you look at what he's doing, I mean I like what he's doing with the REITs and stuff like that.
• 1:04:56
  SPEAKER_03: I think I think Grant Cardone is a master marketer.
• 1:04:59
  SPEAKER_03: For sure.
• 1:05:00
  SPEAKER_03: Right.
• 1:05:01
  SPEAKER_00: He's a master attention getter, which is over marketing.
• 1:05:04
  SPEAKER_03: Yeah, over real estate, over everything.
• 1:05:06
  SPEAKER_03: I think he's just good at branding himself.
• 1:05:07
  SPEAKER_03: But Gary V, I think, puts out a lot of helpful information for people.
• 1:05:10
  SPEAKER_03: So I'm gonna go Gary Vee.
• 1:05:12
  SPEAKER_00: A thousand percent.
• 1:05:13
  SPEAKER_00: All right, dude.
• 1:05:14
  SPEAKER_00: I know you've already sprinkled this into our rapid fire answers, but where where can people find you?
• 1:05:18
  SPEAKER_00: What's the best place to connect with you?
• 1:05:20
  SPEAKER_00: Perfect.
• 1:05:20
  SPEAKER_03: Instagram underscore, underscore the Davis Group, uh, Mega Real Estate Talk.
• 1:05:26
  SPEAKER_03: If you like to listen to podcasts, uh, you can just search Mega Real Estate Talk.
• 1:05:30
  SPEAKER_03: It'll pop up on all of your favorite stations.
• 1:05:32
  SPEAKER_03: If you look up our YouTube channel, which is Mega Agent Academy, you will find uh the video versions of our podcast if you want to chime in for the agent training there.
• 1:05:42
  SPEAKER_03: We're gonna try to start doing shorter versions as well.
• 1:05:45
  SPEAKER_03: I find that people's attention spans can be tough, so we want to kind of do eight to ten minute videos of all of our 40 minute podcasts just to get to the meat of it so you don't have to hear you know us just small talking.
• 1:05:54
  SPEAKER_03: Um, and then we also have a Living Enrichment, Virginia channel.
• 1:05:57
  SPEAKER_03: So if you're looking as an agent on what kind of content works to pick.
• 1:06:00
  SPEAKER_03: Up buyers and sellers.
• 1:06:01
  SPEAKER_03: Um, that one's been very, very fruitful for us.
• 1:06:03
  SPEAKER_03: We're getting about 11 hours a day of viewership on that now.
• 1:06:06
  SPEAKER_03: So um you may not be from Richmond, you may not be looking for a house, but if you're a realtor and you're like, oh, what works on YouTube, uh, check out Living in Richmond, Virginia.
• 1:06:14
  SPEAKER_03: Hell yeah, man.
• 1:06:15
  SPEAKER_03: Jared, thanks for joining us.
• 1:06:17
  SPEAKER_03: Thanks for sharing this.
• 1:06:19
  SPEAKER_03: Jared at centralvarealty.com.
• 1:06:21
  SPEAKER_03: It's J-A-R-E-D at C-E-N-T-R-A-L-V-A-Realty.com.
• 1:06:26
  SPEAKER_03: If you're watching this, even though I'm not giving out my phone number on here, you can see my phone number is right right behind us if you're on the video.
• 1:06:34
  SPEAKER_02: So if you've watched this, then you may luck out and actually get my number to call our checks, but I'll I'll leave that out of the audio.
• 1:06:40
  SPEAKER_00: Cool, man.
• 1:06:40
  SPEAKER_00: And we'll we'll link to your your social profiles and and whatnot in the show notes, or if you're watching on YouTube in the description there as well.
• 1:06:48
  SPEAKER_00: Jared, appreciate it, man.
• 1:06:49
  SPEAKER_00: Great show.
• 1:06:50
  SPEAKER_00: Thank you for having me.
• 1:06:52
  SPEAKER_00: This was great.
• 1:06:52
  SPEAKER_00: Absolutely.
• 1:06:53
  SPEAKER_00: All right, guys.
• 1:06:54
  SPEAKER_00: Appreciate you listening.
• 1:06:56
  SPEAKER_00: Whatever you heard that inspired you, whatever you heard that gave you some new insight, it makes you want to take action.
• 1:07:02
  SPEAKER_00: I urge you at right now, today, at the very end of 2022, take that action.
• 1:07:07
  SPEAKER_00: Or at the very least, like start moving towards doing the thing, right?
• 1:07:13
  SPEAKER_00: Lay the groundwork for it.
• 1:07:14
  SPEAKER_00: Take the first steps.
• 1:07:16
  SPEAKER_00: You've got to start doing it now because if you kick the can down the road, the can doesn't stop rolling.
• 1:07:21
  SPEAKER_00: It just keeps on going.
• 1:07:22
  SPEAKER_00: I know that from personal experience, and so do you, if you're being honest.
• 1:07:26
  SPEAKER_00: So you've got to start shit now.
• 1:07:28
  SPEAKER_00: You got to start making plans now.
• 1:07:29
  SPEAKER_00: Maybe you're like, well, I need to fix my credit.
• 1:07:31
  SPEAKER_00: Well, then start doing that now.
• 1:07:33
  SPEAKER_00: For the love of God.
• 1:07:34
  SPEAKER_00: Why wait?
• 1:07:35
  SPEAKER_00: Don't use that.
• 1:07:36
  SPEAKER_00: Uh my credit's not very good as an excuse.
• 1:07:39
  SPEAKER_00: And by the way, spoiler alert, uh, there are many friends of mine that buy properties all the time that never use their credit.
• 1:07:46
  SPEAKER_00: Their credit, their income, their credentials never come into play because of creative financing.
• 1:07:51
  SPEAKER_00: There are other options out there, which we're going to be diving into this coming year as well, to give you more tools in your tool belt to help buyers and sellers.
• 1:07:59
  SPEAKER_00: This is something that I really learned uh recently.
• 1:08:03
  SPEAKER_00: I wish I would have understood this in the first half of my career.
• 1:08:06
  SPEAKER_00: But when you can show up at a seller's house and you can give them multiple options for uh how to serve them, you are a much more valuable agent.
• 1:08:16
  SPEAKER_00: You're having a much deeper impact on the community than what 99.9% of agents do.
• 1:08:21
  SPEAKER_00: Probably you, you show up at a listing presentation, you're like, okay, here's option A.
• 1:08:25
  SPEAKER_00: I'll list your house.
• 1:08:26
  SPEAKER_00: What's option B?
• 1:08:28
  SPEAKER_00: Oh, uh, refer to option A.
• 1:08:30
  SPEAKER_00: You can only do one thing for people.
• 1:08:32
  SPEAKER_00: Now, some of you have investors that you work with, and you're like, hey, we could list it, or you could, you know, I have an investor that'll buy it, you don't have to fix it up.
• 1:08:40
  SPEAKER_00: They're not going to pay you as much, obviously, but close in a week, no repairs needed, convenience and speed.
• 1:08:46
  SPEAKER_00: Cool.
• 1:08:47
  SPEAKER_00: That's that's much better than most agents.
• 1:08:49
  SPEAKER_00: But there are other options as well.
• 1:08:50
  SPEAKER_00: You can take over someone's property and start making their payments for them, and they just hand you the keys, they don't get a foreclosure.
• 1:08:57
  SPEAKER_00: Um, I mean, there's all sorts of things you can do, but you have to learn what those are.
• 1:09:02
  SPEAKER_00: When you learn how to when you give yourself the tools to build your real estate portfolio, you're also helping more buyers and sellers at the same time.
• 1:09:11
  SPEAKER_00: That's what we do.
• 1:09:12
  SPEAKER_00: That's that's how you know we are in a great profession and that we are in a noble profession.
• 1:09:17
  SPEAKER_00: And I hope you understand that.
• 1:09:19
  SPEAKER_00: Guys, I'm gonna wrap this thing up.
• 1:09:21
  SPEAKER_00: That's a wrap for 2022.
• 1:09:23
  SPEAKER_00: We'll be back next week with the first episode of 2023.
• 1:09:26
  SPEAKER_00: We're gonna start the year off with an absolute bang.
• 1:09:29
  SPEAKER_00: And I'm just I'm stoked.
• 1:09:31
  SPEAKER_00: We're gonna hit a million downloads this next year.
• 1:09:34
  SPEAKER_00: I'm gonna turn 40 this next year.
• 1:09:36
  SPEAKER_00: Um, I will be I'm gonna put it out there.
• 1:09:39
  SPEAKER_00: I'm gonna reach a million dollars a year in income this year in 2023.
• 1:09:43
  SPEAKER_00: And man, I'm just I'm freaking stoked.
• 1:09:46
  SPEAKER_00: So I'm excited to see what you guys do.
• 1:09:49
  SPEAKER_00: If you found this episode valuable or any of our episodes, I ask you, please share it with someone in the industry who you think would find it valuable too.
• 1:09:59
  SPEAKER_00: If it helped you, who else would it help?
• 1:10:01
  SPEAKER_00: And then please share it with them.
• 1:10:03
  SPEAKER_00: If you help us to grow the audience and to get more people listening and to help them be more successful and start building a foundation for for uh wealth and real estate, then we'll keep coming back with episodes every week.
• 1:10:16
  SPEAKER_00: I mean, that that's the mission of the show.
• 1:10:18
  SPEAKER_00: We need your help with it.
• 1:10:19
  SPEAKER_00: I can't do it all myself.
• 1:10:20
  SPEAKER_00: I need you to help us reach people because you know people who need help that I don't.
• 1:10:25
  SPEAKER_00: Share it with them.
• 1:10:26
  SPEAKER_00: And if you have not yet, please consider leaving a review for us.
• 1:10:30
  SPEAKER_00: If you listen on Apple, just go to MassiveAgent Podcast.com slash review.
• 1:10:34
  SPEAKER_00: You can easily leave a review or or a rating for the show.
• 1:10:37
  SPEAKER_00: I'd appreciate it.
• 1:10:38
  SPEAKER_00: If you found it valuable, leave us a five-star review and then tell us what you like about it.
• 1:10:43
  SPEAKER_00: It only has to take 20 seconds.
• 1:10:44
  SPEAKER_00: Just type a little blah blah blah about what you like about the show, and it helps our podcast grow within the platforms.
• 1:10:50
  SPEAKER_00: If you listen on Spotify, they now allow reviews.
• 1:10:54
  SPEAKER_00: Please leave us a review on Spotify as well to help us reach more people there.
• 1:10:59
  SPEAKER_00: Please take the action.
• 1:11:01
  SPEAKER_00: Not just action, please take the action.
• 1:11:04
  SPEAKER_00: You know what that means for yourself.
• 1:11:05
  SPEAKER_00: Whatever the action is, take that action.
• 1:11:08
  SPEAKER_00: And I'm excited to see what you guys do.
• 1:11:10
  SPEAKER_00: Let's do it together.
• 1:11:11
  SPEAKER_00: We're gonna have a big 2023.
• 1:11:13
  SPEAKER_00: You guys who are members of my team or want to be, freaking stoked for you.
• 1:11:18
  SPEAKER_00: If you want to learn more about the Massive Agent team and how we're able to become business partners without charging you any extra commission split whatsoever, reach out, send me a DM on Instagram, and uh we'll talk.
• 1:11:31
  SPEAKER_00: We'll show you how it works and see if you are a good fit for us.
• 1:11:34
  SPEAKER_00: We're not looking for anybody, we are looking for the right people, and uh we're looking for entrepreneurial, growth-minded, collaborative people.
• 1:11:42
  SPEAKER_00: So if that's you, maybe we should chat about what the massive agent team looks like for you this next year.
• 1:11:47
  SPEAKER_00: Appreciate the hell out of you guys.
• 1:11:49
  SPEAKER_00: See you next year.