Latest / Reborn w/ Antonio Boutros / From Homeless to Real Estate Titan: Jeremy Beland's Unstoppable Journey 💪

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From Homeless to Real Estate Titan: Jeremy Beland's Unstoppable Journey 💪 · Reborn w/ Antonio Boutros

• 0:01
  SPEAKER_00: Welcome to another episode of the Reborn Podcast.
• 0:04
  SPEAKER_00: Today we embark on an exciting journey into the world of real estate investing, guided by an exceptional guest who has carved a remarkable path in this dynamic field.
• 0:13
  SPEAKER_00: I'm your host, Tony Gruchers, and it's a pleasure to have you join us on this enlightening exploration.
• 0:18
  SPEAKER_00: Our guest today, Jeremy Beland, is not just a real estate investor.
• 0:23
  SPEAKER_00: He's a trailblazer who started his journey with one bold step that led to transformative success.
• 0:29
  SPEAKER_00: From selling his home, from selling his own home to immersing himself fully in the real estate landscape, Jeremy's story is a testament to the resilience and determination required to thrive in the competitive world of real estate.
• 0:41
  SPEAKER_00: Jeremy's journey wasn't without its share of challenges, but he navigated them with unwavering dedication.
• 0:47
  SPEAKER_00: His pivot from a sales background to real estate investing demanded sacrifices and hard work.
• 0:52
  SPEAKER_00: And he'll be sharing the invaluable insights he gained along the way.
• 0:56
  SPEAKER_00: Throughout our conversation, Jeremy will take us deep into the intricacies of real estate investing.
• 1:01
  SPEAKER_00: From uncovering off-market properties to evaluating risks and returns, his strategies have paved the way for his success.
• 1:09
  SPEAKER_00: Whether you're an aspiring investor or a seasoned pro, you're bound to find Jeremy's experiences and wisdom enlightening.
• 1:17
  SPEAKER_00: So fasten your seat belts and get ready to embark on a journey that will leave you inspired and informed.
• 1:23
  SPEAKER_00: Let's dive into the world of real estate investing with Jeremy Beland and discover the secrets to his triumphs and a lesson he's learned along the way.
• 1:30
  SPEAKER_00: Jeremy, thanks so much for being here.
• 1:32
  SPEAKER_01: Wow, Tony, thank you so much.
• 1:34
  SPEAKER_01: Wonderful introduction.
• 1:35
  SPEAKER_01: Really appreciate it.
• 1:35
  SPEAKER_01: Honored to be here on your show today.
• 1:37
  SPEAKER_01: Really excited to be here.
• 1:38
  SPEAKER_00: Absolutely, bro.
• 1:39
  SPEAKER_00: I'm I'm excited.
• 1:40
  SPEAKER_00: I'm excited.
• 1:41
  SPEAKER_00: So, you know, the first question: how did you go from sales to real estate?
• 1:48
  SPEAKER_00: Can you share your background and what really initially inspired you to enter the world of real estate investment?
• 1:54
  SPEAKER_01: Yeah, so we'll take a few minutes.
• 1:56
  SPEAKER_01: I'll just give you a quick um, you know, update on like how my story really came to fruition here.
• 2:00
  SPEAKER_01: You know, I'm 47 years old, I live in New Hampshire with my beautiful wife, Shelly.
• 2:04
  SPEAKER_01: We have five kids, we're a blended family.
• 2:07
  SPEAKER_01: Um, you know, so today, uh, you know, my life is very different than what it was most of my journey getting here.
• 2:14
  SPEAKER_01: Um, you know, my I was raised from a single homeless mom who you know eventually got remarried or got married when I was a young kid.
• 2:22
  SPEAKER_01: And then um, you know, during my early teen years, um, where we were living basically lower middle class, um, we ended up losing everything at that time in our lives.
• 2:34
  SPEAKER_01: Ended up losing the house of foreclosure, had our cars repossessed in the middle of the night, uh, went through bankruptcy and everything.
• 2:39
  SPEAKER_01: Next thing you know, from the small modest house to basically living um, you know, from one place to the next, and found myself just you know getting in a lot of trouble, um, dropped out of high school, was getting arrested, and just couldn't find my right path.
• 2:55
  SPEAKER_01: And then um, you know, ended up being a uh high-rise window cleaner in my late teens and early 20 years old, hanging off buildings in Boston.
• 3:05
  SPEAKER_01: And um, at that time I started to kind of get myself into health and fitness, joined a semi-pro football team because I was a football player as a young kid, um, quit smoking and you know, just was trying to just get myself back into the gym around that time.
• 3:20
  SPEAKER_01: Got myself on a football team, and a friend of mine says, Hey, you know, I'd like to get you a job.
• 3:24
  SPEAKER_01: I think you'd be really good at it doing sales.
• 3:26
  SPEAKER_01: I've never did sales in my life, never even owned a tie until this point in time in my life.
• 3:31
  SPEAKER_01: So it was roughly about 23, 24 years old when this happened.
• 3:36
  SPEAKER_01: I said, you know what, let's go do it.
• 3:37
  SPEAKER_01: I went and did a sales job, found out he was just trying to get a bonus for recruiting some people to do this, and I got a job uh selling printers and copies.
• 3:45
  SPEAKER_01: No sales experience, no high school education, no college education.
• 3:49
  SPEAKER_01: I don't even know how I got the job.
• 3:51
  SPEAKER_01: I think they were really desperate.
• 3:52
  SPEAKER_01: I got really lucky.
• 3:53
  SPEAKER_01: Um, you know, like I said, I had to go get a tie and uh um, you know, my first pair of pants and nice shoes for this this job, but found myself getting a nine to five sales job for the first time rather than you know washing windows.
• 4:05
  SPEAKER_01: I was delivering pizzas at night.
• 4:07
  SPEAKER_01: It was just you know, had a$400 beater car.
• 4:10
  SPEAKER_01: You know, I was poor, poor, poor.
• 4:12
  SPEAKER_01: Um, and then you know, shortly after that, I decided to have some mediocre success there.
• 4:16
  SPEAKER_01: I found uh my my initial wife.
• 4:18
  SPEAKER_01: We ended up getting married.
• 4:20
  SPEAKER_01: Um, you know, we ended up having two kids, and we, you know, I went and found another sales job where I ended up having some really good success and started making like six figures a year.
• 4:28
  SPEAKER_01: And then I found myself basically around you know my early 30s at a position where I had two young kids, wife, living suburbia lifestyle, right?
• 4:36
  SPEAKER_01: The white picket fence, the whole nine yards, basically everything that I dreamed to achieve at that point.
• 4:41
  SPEAKER_01: And that's when I started getting into real estate investing, read rich dad, poor dad, uh, you know, the four quadrants, and you know, just started learning a little bit about different things, a lot of personal development at that time.
• 4:52
  SPEAKER_01: Podcasts weren't a thing back then, so I used to have to go to the library, uh, you know, get CDs and stuff like that.
• 4:58
  SPEAKER_01: And I because I was sales, I would drive a lot, so I would listen to these CDs of personal development, and just really started to get this hunger for real estate investing.
• 5:06
  SPEAKER_01: And then just as I started to, I took like the Donald Trump University, I got another coach with uh, and I was just starting to dabble into what was wholesaling, but they didn't have a name called wholesaling for it at that time, you know.
• 5:19
  SPEAKER_01: Really, um the their way of teaching it was very different.
• 5:22
  SPEAKER_01: I was just getting a lot of instructions from different people, really didn't have any great insight on what I was supposed to do.
• 5:27
  SPEAKER_01: And then, you know, the company that I was working for, the owner left, uh died, so I left that company, went to another company, and a year later the recession happened, and I got crushed in the recession.
• 5:38
  SPEAKER_01: So 2009-2010, basically I found myself after putting an addition on my home, having equity in my home, having nice new cars, having a um camper up at a nice campsite, and just basically living the dream life that I wanted to be in a position where I was about to lose everything.
• 5:54
  SPEAKER_01: I could not find a job, I was out of work.
• 5:57
  SPEAKER_01: Um, I because I had no high school education, college education, I could not find a job anywhere because people that that was also that was a housing crisis, but it was also an employment crisis at that time.
• 6:08
  SPEAKER_01: So many people out of work.
• 6:09
  SPEAKER_01: So people who are higher qualified, higher educated than me were settling for less jobs just to make their ends meet at that time.
• 6:17
  SPEAKER_01: So it just kept pushing me down, pushing me down on opportunities.
• 6:21
  SPEAKER_01: So at that time, I was about to lose my house of foreclosure.
• 6:25
  SPEAKER_01: I was about to lose my you know, go to bankruptcy, and I said, Oh shit, here I am.
• 6:29
  SPEAKER_01: I'm basically history is repeating itself.
• 6:31
  SPEAKER_01: I'm gonna do what my parents did.
• 6:33
  SPEAKER_01: And you know, I started getting really depressed and um couldn't find a job except for one thing, and that was to join the military.
• 6:41
  SPEAKER_01: So 33 years old, just before I turned 34, I decided to enlist into the military, the Air Force, went into basic training um right before the age cutoff uh deadline, and was getting um my nickname was Gramps and Basic Training because I was in there with a bunch of 17-year-old kids, and I was getting yelled at by uh military training instructors, you know, that were much younger than me, telling me to get on my face as a dirtbag trainee.
• 7:04
  SPEAKER_01: Uh so you know it was really crazy time.
• 7:06
  SPEAKER_01: I had to leave my family for you know, like six over six months, but it was a good time for me to rebuild myself.
• 7:11
  SPEAKER_01: But also during that time, the only reason why I got into the military is because I knew enough about real estate investing to reach out to a real estate investor about my situation with my house because there was no time at that time, there was no loan remodifications, there was no um refinance options.
• 7:28
  SPEAKER_01: Basically, it was either I was gonna lose my house or get a short sale.
• 7:31
  SPEAKER_01: So I reached out to an investor that knew about short saleing.
• 7:34
  SPEAKER_01: He came to my house, he said, Hey, you know, your mortgage company is really tough, but I I have experience working with them, I can get you through the short sale, which was amazing.
• 7:44
  SPEAKER_01: So during that time, that guy was able to you know buy our shed from us, buy our washer and dryer from us, buy our um, you know, what um refrigerator from us and give us some cash.
• 7:54
  SPEAKER_01: And that cash was like food on the table for my children, food on uh clothes on my children, Christmas gifts for my children.
• 8:02
  SPEAKER_01: It was like money that we desperately needed.
• 8:04
  SPEAKER_01: And if we didn't go through that short seal, I would have gone into foreclosure, I would have gone into bankruptcy, and then I would not have been allowed into the military.
• 8:12
  SPEAKER_01: So that really investor basically gave me a reset button in life, which has allowed me to be where I am today.
• 8:18
  SPEAKER_01: He short sealed my house with some help from my pre, you know, my ex-wife's in-laws.
• 8:23
  SPEAKER_01: We were able to go find another place and start rebuilding ourselves.
• 8:27
  SPEAKER_01: I went into the military, worked on myself personally, came back, found myself in sales a few years later, started to now be back to making six figures a year, but now here I am.
• 8:36
  SPEAKER_01: Um, I got divorced shortly after returning back from the military.
• 8:40
  SPEAKER_01: Um, it was a single dad, you know, living in the next town over, had two kids, trying to, you know, survive off of this sales job, and I'm approaching 40 years old, and I'm like, I don't know what to do.
• 8:51
  SPEAKER_01: Like, I don't want to be living paycheck to paycheck forever.
• 8:54
  SPEAKER_01: You know, you know, I I see myself not really gaining any momentum here.
• 8:58
  SPEAKER_01: I'm supposed to retire some point down the road.
• 9:01
  SPEAKER_01: Um I just don't see a future here.
• 9:04
  SPEAKER_01: You know, what if the owner of this company decides to sell?
• 9:07
  SPEAKER_01: Am I going to be a third time, you know, going through a point where I'm going through foreclosure or facing bankruptcy?
• 9:14
  SPEAKER_01: And I was just scared to death at that moment.
• 9:16
  SPEAKER_01: So I really started looking at real estate investing again.
• 9:18
  SPEAKER_01: And I was traveling a lot around the country at that time.
• 9:21
  SPEAKER_01: This time, podcasts were around.
• 9:22
  SPEAKER_01: I found myself finding a podcast about wholesaling, and I had no money.
• 9:26
  SPEAKER_01: And I thought to myself, well, if I can learn how to wholesale, that will allow me the option to get properties at the lowest level.
• 9:33
  SPEAKER_01: There's little to no money to get into this business because I didn't know you could actually use other people's money to do real estate investing.
• 9:40
  SPEAKER_01: I thought I had to have my own and I didn't have any.
• 9:42
  SPEAKER_01: So I'm like, well, if I get into wholesaling, then I can learn if you know I can decide if I want to flip properties, if I want to keep buying hold properties, whatever the case is, at least I have control.
• 9:51
  SPEAKER_01: But I had no money to get into wholesaling.
• 9:53
  SPEAKER_01: After finding out that the coaching course was going to cost me$5,000 and I was going to need some money for marketing, I was like, I don't know what to do.
• 10:00
  SPEAKER_01: So I took the the gamble and I burned the boats and I sold my condo that I owned for a couple years.
• 10:07
  SPEAKER_01: I made about$17,000 in equity off of this sale.
• 10:10
  SPEAKER_01: I put$6,000 into credit card debt.
• 10:13
  SPEAKER_01: I put$5,000 into this coaching program,$6,000 into starting my business with marketing, LLCs, contracts with attorneys, moved my kids into this crappy little apartment, and I just I was all in, worked full-time, started my business.
• 10:28
  SPEAKER_01: That$11,000 investment in starting my business back in 2016, which we started January 2017, has allowed us to go on to do over 400 transactions in over six different markets and generate over$8 million in gross profit since.
• 10:43
  SPEAKER_01: Wow.
• 10:46
  SPEAKER_00: Jeremy, one of my core values is resilience.
• 10:50
  SPEAKER_00: And I think if I were to sum your story up into one word, that would be it.
• 10:55
  SPEAKER_00: Resilience.
• 10:57
  SPEAKER_00: What gives you your resilience?
• 10:59
  SPEAKER_00: What keeps you pushing?
• 11:00
  SPEAKER_00: Because there's so many opportunities that you had to just quit, to just give up, to just be a drunk or or be uh be an absent father.
• 11:08
  SPEAKER_00: What what keeps you going?
• 11:10
  SPEAKER_01: You know, it's a great question, Tony.
• 11:13
  SPEAKER_01: And you're right.
• 11:14
  SPEAKER_01: You know, I've always found myself to persevere through everything.
• 11:18
  SPEAKER_01: You know, one of the mottos that we have in our company is that you know, those who survive thrive.
• 11:23
  SPEAKER_01: And it's really easy to blame others, easy to just fall, you know, throw in the towel.
• 11:28
  SPEAKER_01: But I've always just wanted more.
• 11:30
  SPEAKER_01: I've always just had an uh like an inner voice just saying, you know, you need to find a way, you need to keep pushing, you want more.
• 11:36
  SPEAKER_01: It's the desire that has really gotten me through all of those hard times in life.
• 11:40
  SPEAKER_01: And you know, it's not easy.
• 11:42
  SPEAKER_01: We're all gonna face that kind of adversity, sometimes even worse.
• 11:46
  SPEAKER_01: But your option is to give into it and settle for what fate comes of that, or to find a way to just keep pushing through.
• 11:53
  SPEAKER_01: And you know, uh I don't know if you're familiar with the old Rocky, the old Rocky quote.
• 11:58
  SPEAKER_01: I have it here.
• 12:00
  SPEAKER_01: You know, the world ain't all sunshine and rainbows, it's a mean and nasty place, right?
• 12:05
  SPEAKER_01: Um I have that because you know it's that's my motto in life.
• 12:09
  SPEAKER_01: It's not how hard you get punched, it's how you know how hard you get punched and get up and keep going, right?
• 12:14
  SPEAKER_01: So um life's gonna punch you, you just gotta keep going.
• 12:21
  SPEAKER_00: So you you had you had multiple transitions, one from from your childhood to to adulthood, and obviously that was a that's a big transition transition, and that's a big transition for anyone.
• 12:32
  SPEAKER_00: And then you transitioned again from being broke, uh well, from from being actually making six figures in your sales job to then being broke, to then making a huge shift to where you've now made millions of dollars.
• 12:47
  SPEAKER_00: How did you transition from a sales background to actually running your own business?
• 12:52
  SPEAKER_00: Because obviously, sales is the lifeblood, the life force of any business, but it's not the entire business.
• 12:58
  SPEAKER_00: How did you learn those other skills that you needed to needed to know?
• 13:02
  SPEAKER_01: Yeah, it's it's it's a great question.
• 13:04
  SPEAKER_01: Coaching, really, it's all come down to coaching.
• 13:06
  SPEAKER_01: You know, um, I've had the blessed ability to be very outgoing because my family moved around a lot as a kid.
• 13:13
  SPEAKER_01: I was a new kid in a lot of different schools.
• 13:15
  SPEAKER_01: As a matter of fact, I went to three different high schools by the time I quit at 16.
• 13:19
  SPEAKER_01: So, you know, I was just one of those people that had to be outgoing, have an outgoing personality to just, I don't know, make friends and get, you know, survive through life, I guess, socially.
• 13:29
  SPEAKER_01: So, you know, as I got older, that translated to actually being really good at talking to people, which was really good for sales, although, you know, my articulation was terrible because I had no education.
• 13:39
  SPEAKER_01: Um, but a lot of it's come from personal development.
• 13:41
  SPEAKER_01: I've been very passionate about reading, um, learning to get better, but coaching has been a huge part of it.
• 13:47
  SPEAKER_01: You know, it's great to say, hey, I've gone on to do millions of dollars in business, but I haven't done that alone.
• 13:52
  SPEAKER_01: You know, that$5,000 was a coaching program that taught me how to um get my first wholesale deal, which generated$5,000.
• 14:00
  SPEAKER_01: And that first year we ended up, you know, failing our way forward through 10 deals and$73,000, but we got some momentum.
• 14:06
  SPEAKER_01: Then we just kept taking that money and investing into another coach and another coaching program, another coach.
• 14:11
  SPEAKER_01: As of today, I've spent well over a quarter million dollars in ongoing coaching.
• 14:15
  SPEAKER_01: I literally today have three coaches myself.
• 14:18
  SPEAKER_01: I have a business coach, I have a coach for my coaching business, I also have a financial coach that keep pushing me forward.
• 14:24
  SPEAKER_01: But on top of that, I've invested into team members that have come into our business over the years.
• 14:30
  SPEAKER_01: And again, we would not have achieved this success if it was just me and my wife alone.
• 14:33
  SPEAKER_01: We've had to build a team around us, and we invested a lot of our resources and coaching back into our team to get the best out of them.
• 14:40
  SPEAKER_01: So, answer your question is you know, a lot of coaching and just taking massive and perfect action, failing forward, making mistakes, um, not being afraid to implement what our coaches tell us.
• 14:52
  SPEAKER_00: You mentioned you spent over$250,000 on coaching.
• 14:57
  SPEAKER_00: And earlier you had touched on you said there have been bad coaches that you invested in, correct?
• 15:03
  SPEAKER_01: No, no, no.
• 15:03
  SPEAKER_01: There hasn't been bad coaches.
• 15:05
  SPEAKER_01: No, I'm sorry if I that came across that way.
• 15:07
  SPEAKER_01: No, um, no, some coaches have been great, some have you know been better than others, but there has not been a bad coach that I've experienced myself.
• 15:14
  SPEAKER_01: They've all brought me some kind of wisdom or knowledge that has helped me uh continue my growth in this industry.
• 15:20
  SPEAKER_00: Gotcha.
• 15:21
  SPEAKER_00: Okay.
• 15:21
  SPEAKER_00: I thought I I thought I had uh overheard you saying you had a bad coach.
• 15:25
  SPEAKER_00: Okay, something else that was very, very unique to me.
• 15:30
  SPEAKER_00: Seeing you as an entrepreneur, seeing what you've accomplished, despite all this uh things that you have to you've had to be resilient through.
• 15:38
  SPEAKER_00: One of the things that stuck out to me was the the role that your wife played.
• 15:42
  SPEAKER_00: Your wife played a significant role in supporting your career change.
• 15:46
  SPEAKER_00: Can you talk about her decision to join you in the venture and how it impacted your journey?
• 15:51
  SPEAKER_00: Do you where do you think you'd be without that having happened?
• 15:54
  SPEAKER_01: I would not be anywhere near here today.
• 15:56
  SPEAKER_01: My wife is not only instrumental in our uh success as a business, but instrumental as me as a man.
• 16:04
  SPEAKER_01: She has continued to push me to be the best that I can be.
• 16:07
  SPEAKER_01: She's encouraged me to be the best that I can be.
• 16:09
  SPEAKER_01: And I am the best that I'm trying to be day to day because of her.
• 16:14
  SPEAKER_01: Um, I literally owe everything to my wife.
• 16:16
  SPEAKER_01: She's amazing.
• 16:16
  SPEAKER_01: She's my best friend.
• 16:18
  SPEAKER_01: Uh, she's my partner in everything we do.
• 16:20
  SPEAKER_01: You know, she came in um early on to support me that first year, then she quit her job and took a gamble into this business and started really going on appointments with me, started working on flips with me.
• 16:30
  SPEAKER_01: And we've basically built this thing from the ground up, her and I.
• 16:34
  SPEAKER_01: Um, you know, she's behind the scenes.
• 16:37
  SPEAKER_01: I'm kind of front of house these days and have been for a while.
• 16:40
  SPEAKER_01: Um, but behind the scenes, she's very instrumental in the vision and the implementation and the growth of this company.
• 16:46
  SPEAKER_01: You know, we're working really hard on growing our REI Freedom coaching company these days, and she's an integral part of the vision of that, just like she has been with our home buying companies.
• 16:56
  SPEAKER_01: Um, you know, I've had the blessing to work with her all day, every day.
• 17:00
  SPEAKER_01: Um, we're best friends, we're attached to the hip.
• 17:03
  SPEAKER_01: We love spending time together, whether that's working, training together in you know, physical fitness, competing in road races and obstacle courses and all the different things we've done over the years.
• 17:14
  SPEAKER_01: Um, it's been an amazing and you know, in blending five kids and you know, dealing with exes and then you know, dealing with the challenges of five teenage kids and then building a business and moving and the financial struggles we had to do to get here is not been easy.
• 17:31
  SPEAKER_01: But the strength and the love that we've had together has been a critical part of um our success, it really has.
• 17:38
  SPEAKER_00: Being a business leader and being a wife or a husband, obviously they they take different roles.
• 17:44
  SPEAKER_00: How do you guys differentiate between your personal relationship and your work relationship?
• 17:49
  SPEAKER_01: It's all intertwined, you know.
• 17:51
  SPEAKER_01: Uh, we talk business, family, life, love, you know, throughout the day, all day, every day.
• 17:56
  SPEAKER_01: You know, fortunately for us, we've built a life through REI.
• 18:00
  SPEAKER_01: You know, there's a reason why we call it REI freedom is because we built a life of freedom that works for us, right?
• 18:04
  SPEAKER_01: And we called it REI Freedom because freedom for through real estate investing looks different for everybody.
• 18:09
  SPEAKER_01: For us, it's just having time.
• 18:11
  SPEAKER_01: So over the last you know, handful of years, we've had an abundance of time.
• 18:15
  SPEAKER_01: We make less money as a result of it because we need more people on our team to provide us this lifestyle.
• 18:21
  SPEAKER_01: But we weave our life like throughout the day, you know, family, life, kids, work.
• 18:27
  SPEAKER_01: So, you know, this morning we're on a walk and we spent 90 minutes.
• 18:30
  SPEAKER_01: We, you know, some of it was business development, some of it was vision, some of it was problems that we need to overcome, some of it was just about how much we love each other, some of it was about the kids.
• 18:39
  SPEAKER_01: You know, that's our life all day, every day.
• 18:41
  SPEAKER_01: Um, you know, it just kind of flows.
• 18:44
  SPEAKER_01: That's our life.
• 18:45
  SPEAKER_00: What is your guys' overall vision, both for the home buying companies?
• 18:50
  SPEAKER_00: You said correct companies, I think plural.
• 18:52
  SPEAKER_01: Yep, yeah.
• 18:53
  SPEAKER_01: We have two home buying companies.
• 18:54
  SPEAKER_01: We've had multiple ones in different markets before.
• 18:57
  SPEAKER_01: Uh, we're now we're down in uh Coastal Florida Home Buyers, which is our you know, our newest market, um, based out of Port St.
• 19:04
  SPEAKER_01: Lucie, Florida, on the southeast coast, just north of Miami, Fort Lauderdale.
• 19:07
  SPEAKER_01: And then, you know, our New Hampshire homebuyers, which is our original uh house buying company, you know, we focus on buying properties off-market with distressed property, distressed property owners of distressed properties, and then providing um value in helping them in their distress and situations, being a problem solver for them, tailoring a customized problem uh solution for their problem in exchange for equity in the homes, and we take that equity and we you know we use it to make revenue.
• 19:34
  SPEAKER_01: Um, you know, and then we have the the coaching business that we teach other people to do that.
• 19:38
  SPEAKER_01: So, really, you know, what we're able to do is we're actually able to provide a lot of value to our community.
• 19:44
  SPEAKER_01: I told you early in my story, right?
• 19:46
  SPEAKER_01: I was a person who was you know going through uh um foreclosure and bankruptcy, and I was going through hard times after having success.
• 19:54
  SPEAKER_01: I was a good person and going through a hard time.
• 19:57
  SPEAKER_01: There's a lot of people like that in all you know, all different communities, all different time periods, all different economies.
• 20:04
  SPEAKER_01: It doesn't matter.
• 20:06
  SPEAKER_01: We have the ability to pay that forward, and we go in and we help a ton, you know, literally a hundred properties, hundred houses a year in our communities by giving them a reset button, taking those properties, whether we keep them or sell them to other investors, allowing somebody to come in, renovate those properties, and give more housing, better housing to people who are looking for housing to move into those towns.
• 20:29
  SPEAKER_01: So we just are really passionate about helping people in our community.
• 20:35
  SPEAKER_00: I think I think that there's a lot of people in this industry who unfortunately are not very ethical.
• 20:40
  SPEAKER_00: It's it's there's a lot of grimy people in the industry.
• 20:43
  SPEAKER_00: How do you balance providing value while making a profit?
• 20:47
  SPEAKER_00: How do you correlate and balance the two?
• 20:51
  SPEAKER_01: Yeah, I mean, I think that goes for all businesses, but you know, specifically for ours, you know, it's all about transparency, right?
• 20:57
  SPEAKER_01: Transparency, honesty, and providing value.
• 21:00
  SPEAKER_01: You know, for us when we go into somebody's home that's facing any kind of distress, where they are number one, is a consultant.
• 21:06
  SPEAKER_01: We want to consult them based on our experience and knowledge on what is the best strategy for them.
• 21:12
  SPEAKER_01: That may be us buying their home, it may be for somebody else to buy the home, maybe not selling their home or listing their home with the realtor, whatever that is, we'll guide them.
• 21:21
  SPEAKER_01: Um, and then we also go into just make a friend, right?
• 21:24
  SPEAKER_01: We can't um have an honest, open, transparent relationship with anybody if we're not friends.
• 21:30
  SPEAKER_01: So we go in to be a consultant, we go in to make a friend, and if we can provide value for them, we will.
• 21:35
  SPEAKER_01: And if we're not, we'll just lead them in the direction we think is best for them.
• 21:38
  SPEAKER_01: A lot of times we aren't the fit for people, and that's okay, but sometimes we are.
• 21:42
  SPEAKER_01: And you know, we just in those people that we are, we we make a difference in their lives.
• 21:47
  SPEAKER_01: You know, we're very passionate about our reviews and testimonials.
• 21:51
  SPEAKER_01: So, you know, if you were to look us up online, you see a ton of reviews and uh testimonials uh giving us validity of how much we help people in our community.
• 22:00
  SPEAKER_01: And that's really important because we're put we need people to feel reassured that we are who we are when we say what we're gonna do.
• 22:06
  SPEAKER_01: Just like that real estate investor that came in and helped me with the uh my short sale.
• 22:10
  SPEAKER_01: I didn't care about how much money he was gonna make.
• 22:12
  SPEAKER_01: I just dude, are you gonna come through for me and help me?
• 22:15
  SPEAKER_01: And that's really the people we're dealing with, that's all they really care about first and foremost.
• 22:18
  SPEAKER_01: Is are you gonna be able to help me in my unique situation and see this through and make sure that I can be okay on the other side?
• 22:27
  SPEAKER_00: Given what you've been able to accomplish as an as an investor and all these people that you've been able to provide value and provide solutions to in while making a several seven-figure dollar business, you're clearly thriving in that business.
• 22:44
  SPEAKER_00: Why go into coaching?
• 22:45
  SPEAKER_00: What drove you to go into coaching and what is your vision with the coaching business?
• 22:50
  SPEAKER_01: Yeah, you know, coaching came because of um our partner in the coaching business, Dan Tobak.
• 22:55
  SPEAKER_01: Um, Dan Toback is a very successful acquisition specialist that worked on the two coaches that I had previously.
• 23:02
  SPEAKER_01: So, you know, when we're up in Western New York home buyers, so that we had two markets, we had a New Hampshire one, and then we were running Western New York Home Buyers out of Rochester, New York, Buffalo, New York, where we were doing a ton of deals up there as well.
• 23:14
  SPEAKER_01: I had two guys that were amazing salespeople, one who still works with us today, one in the New York who doesn't.
• 23:19
  SPEAKER_01: Um, and they were over 100 acquisitions each.
• 23:22
  SPEAKER_01: And again, you know, as I'm very passionate about personal development and coaching, I got to a point where I taught these guys all that I knew.
• 23:29
  SPEAKER_01: My wife and I, we did 50-60 transactions before we built a uh company.
• 23:34
  SPEAKER_01: I never closed 100 deals myself and been in that many living rooms.
• 23:38
  SPEAKER_01: So it got to a point where it's like, all right, I gotta get these guys better because if you're not growing and getting better, right, you're you're regressing.
• 23:44
  SPEAKER_01: We don't want to regress, we want to continuously find you know get better at this craft and move forward.
• 23:49
  SPEAKER_01: So I started going on a nationwide search, and I couldn't find anybody that had experience enough to teach these guys um to get better at the skill set we do, right?
• 23:59
  SPEAKER_01: So there's companies that have done more than 100 deals, but there's not anybody out there who's you know who's done that kind of high-level acquisition, that kind of experience of talking to distressed people and distressed sellers and all that situation.
• 24:12
  SPEAKER_01: Um, and that led me to Dan Toback.
• 24:14
  SPEAKER_01: You know, I I reached out to one of my coaches, he said talk to Dan.
• 24:17
  SPEAKER_01: At that time, Dan had done more than 500 transactions himself individually over the course of 10 years working under uh two of my coaches.
• 24:26
  SPEAKER_01: We brought him in as a coach for our team, and our guys just skyrocketed.
• 24:30
  SPEAKER_01: Um, one of our guys went from 45 deals to 78 deals in one calendar year as a result of his his coaching in development.
• 24:37
  SPEAKER_01: Um, you know, and at that point we decided to you know do business with Dan and we ended up opening up Coastal Florida Home Buyers.
• 24:43
  SPEAKER_01: We closed our New York branch uh because our guy out there kind of wanted to move in a different direction, and we did as well.
• 24:49
  SPEAKER_01: So um, and then we realized that you know Dan and us together have a uh special skill that we can teach people, the you know, the people that are doing a handful of deals a year to get to that point where they want to do more deals, right?
• 25:04
  SPEAKER_01: If you want to do one deal a month to get to like five deals, or you have a team of acquisition people that are doing deals for your company, you want to give them the sales training that they need.
• 25:13
  SPEAKER_01: There was a need for this niche in this industry, and we just had the the perfect um you know package between me and him to put this together.
• 25:23
  SPEAKER_01: So we decided to put this coaching program together so we could teach people to get better in their lives.
• 25:29
  SPEAKER_01: Again, we've been really blessed with real estate investing in our lives.
• 25:32
  SPEAKER_01: Now we get to you know carry this forward, and then they learn those skills to continue to do better in their communities, and there's like this compound ripple effect of providing value, you know, nationally throughout the country.
• 25:45
  SPEAKER_01: So, you know, of course, we want to make money doing it, but providing value to these people to so they can build a life through real estate investing like we have, as well as just really making an impact in the communities.
• 25:54
  SPEAKER_01: I mean, we all want to make an impact, and there's different ways of doing that, and that's one of the ways that we we've you know gone out to strive to do that for ourselves.
• 26:02
  SPEAKER_00: I think you might have just touched on it a little bit, but ultimately when you when you began your business, you were looking to achieve freedom, you were looking to support a family with children and a wife.
• 26:14
  SPEAKER_00: Now you've made several million dollars.
• 26:17
  SPEAKER_00: What keeps you going?
• 26:18
  SPEAKER_00: And I mean, why keep going?
• 26:20
  SPEAKER_00: Why not retire?
• 26:20
  SPEAKER_00: Is it so that you can pass the torch on to others?
• 26:23
  SPEAKER_01: Well, because I've made seven million dollars doesn't mean I have seven million dollars.
• 26:26
  SPEAKER_01: My businesses have generated that right over the years, but a lot of that has gone back into paying my team and running these businesses and personal development and growth, right?
• 26:35
  SPEAKER_01: So I pay myself a portion of that, and we reinvested in different ways.
• 26:39
  SPEAKER_01: Um, but I'm far from a position where I could retire.
• 26:42
  SPEAKER_01: You know, I I think there's we're just talking about this on our walk.
• 26:44
  SPEAKER_01: There's a misconception out there that it's very easy to get you know rich in real estate, and then you can just retire.
• 26:51
  SPEAKER_01: Um, I don't think that's the case.
• 26:52
  SPEAKER_01: You know, from my experience, the longer I'm this, the more I see that people who are doing this for 10, 20 years stay in it for a reason.
• 26:58
  SPEAKER_01: You could build a great life for yourself financially.
• 27:01
  SPEAKER_01: You could do a lot of great financial things.
• 27:03
  SPEAKER_01: Um, you know, freedom for us, my wife and I was just for me personally, was getting away from the golden handcuffs.
• 27:10
  SPEAKER_01: I didn't want to be in a situation where if my owner of the company decided to sell the company, I was out of a job, or I needed to ask time off to go on a vacation.
• 27:19
  SPEAKER_01: I didn't want to have to answer anybody else but myself.
• 27:22
  SPEAKER_01: I wanted to have control of my own destiny.
• 27:24
  SPEAKER_01: You know, my wife, she left her job inside of this because she wanted to be able to get the kids on the school bus and get off this school bus.
• 27:30
  SPEAKER_01: And then it morphed into us wanting to spend time together and have date days and go to all of our kids' activities.
• 27:35
  SPEAKER_01: You know, for the last five, six years, our kids have never seen us miss anything.
• 27:39
  SPEAKER_01: They literally don't even know we work because we're at our kitchen table every day.
• 27:42
  SPEAKER_01: We're working, but they don't really ever see it.
• 27:45
  SPEAKER_01: Um, so that has become the freedom for us.
• 27:47
  SPEAKER_01: Again, we could be doing more actively every single day in exchange to make it more money, but we've given more of that money to our team so we can have more time.
• 27:55
  SPEAKER_01: Because as we've gotten older, time has been really precious for us at this point in our life.
• 27:59
  SPEAKER_01: Um, but you know, we take a lot of our money, we reinvest it in certain ways.
• 28:03
  SPEAKER_01: But dude, I am probably never gonna retire, number one, even if I could.
• 28:07
  SPEAKER_01: And but financially, it takes a long time.
• 28:09
  SPEAKER_01: This business isn't easy, it still has this ups and downs.
• 28:11
  SPEAKER_01: Even if you're doing millions of dollars of every year, I still have sleepless nights, I still have months of worry, it never ends.
• 28:17
  SPEAKER_01: Bigger, bigger, bigger finances, bigger problems.
• 28:20
  SPEAKER_01: You know, it's all relative.
• 28:22
  SPEAKER_01: All businesses go through it.
• 28:24
  SPEAKER_01: Everything on social media makes it look a lot better and easier than it does, and everybody presents themselves to look better than they really are.
• 28:30
  SPEAKER_01: But I can tell you, we're all struggling at times.
• 28:33
  SPEAKER_01: We still have our um you know our ups and downs, and we still have our sleepless nights.
• 28:38
  SPEAKER_01: That's being an entrepreneur never goes away.
• 28:42
  SPEAKER_00: You keep mentioning your team.
• 28:43
  SPEAKER_00: What does your team structure look like?
• 28:46
  SPEAKER_01: Yeah, absolutely.
• 28:46
  SPEAKER_01: So we have two sales guys in each market.
• 28:49
  SPEAKER_01: Um, we have Dan working out, you know, as our Florida senior acquisition guy.
• 28:53
  SPEAKER_01: We just hired our second new one down there.
• 28:55
  SPEAKER_01: His name's Patrick, good young kid who's working really hard and growing.
• 28:58
  SPEAKER_01: Up here in New Hampshire, we have Eddie, who's worked worked with us for four and a half years now, uh, dear friend and um family, you know, almost he's like family, but he's our senior acquisition guy.
• 29:09
  SPEAKER_01: Uh, we have a junior acquisition guy who's been with us for about a year and a half underneath him as well.
• 29:13
  SPEAKER_01: Um, we have um a disposition manager up here in New Hampshire, Tucker, he's been with us for years, who handles all of our dispos.
• 29:19
  SPEAKER_01: Um, and he works as a project manager for our flips and things of that nature as well.
• 29:24
  SPEAKER_01: And then we have Karen, who is our business manager who sees like day-to-day operations.
• 29:29
  SPEAKER_01: Um, and then we have a couple like two or three Rockstar VAs that help with marketing, admin stuff, and everything else.
• 29:36
  SPEAKER_01: Um, you know, it's a team that has evolved over the time with a few core people.
• 29:41
  SPEAKER_01: We've been very lucky to have Karen Tucker and Eddie as a core, and my sister, I should say, my sister Ashley's been with us since day one almost, um, as another aspect.
• 29:51
  SPEAKER_01: They've been an integral part of our growth over the years.
• 29:54
  SPEAKER_01: And, you know, we've had very little turnover because they've been the core with us.
• 29:58
  SPEAKER_01: And um, you know, we take really good care of them.
• 30:00
  SPEAKER_01: We we we appreciate all their hard work and we try to invest back into them so they continue to want to work for us, build for us, and build this community and build this company, and feel like they have um, you know, a say in its uh success as much as Shelly and I.
• 30:15
  SPEAKER_01: You know, Shelly and I um get a lot of the credit, but they deserve just as much credit as Shelly and I for sure.
• 30:22
  SPEAKER_00: It definitely definitely sounds like you do take care of your people.
• 30:25
  SPEAKER_00: And I think what we were touching on earlier, where there are in in business and in this specific industry in real estate investing, there are unfortunately a lot of grimy people.
• 30:34
  SPEAKER_00: Uh I, for one, worked for one of the bigger companies, New Western, which you know they really they don't have the they don't have the best best model, they don't care for their employees or or their contractors very much, but it sounds like I mean, I mean, you literally called uh a couple of your employees as if they're like family.
• 30:52
  SPEAKER_00: And so I think that's that's super powerful that you guys actually have a relationship.
• 30:57
  SPEAKER_00: They're not just how many how many people are we how many people are you adding to the CRM?
• 31:02
  SPEAKER_00: How many deals are you selling?
• 31:03
  SPEAKER_00: How many leads are you getting in, like actually building a relationship to build a true business?
• 31:09
  SPEAKER_00: Yeah, successful business.
• 31:11
  SPEAKER_01: Yeah, you know, it's obviously it's not always easy, but you know, we we're fortunate to have great people, and when you have great people, you need to invest in them and keep with them.
• 31:20
  SPEAKER_01: You know, it's not all about the money for us, it really isn't.
• 31:22
  SPEAKER_01: You know, we want to allow our team members to have the ability to grow within our structure as well.
• 31:28
  SPEAKER_01: You know, I've worked for some bosses that haven't been so great, so you know, I've learned a lot from that aspect where I felt like I was just a cog in the wheel and not part of something bigger and better.
• 31:39
  SPEAKER_01: And that's fine to each your own.
• 31:41
  SPEAKER_01: And you know, I'm familiar with New West, and we have them up here in the Northeast, and you know, I see a new rep every single month.
• 31:46
  SPEAKER_01: Um, so I I understand they have a lot of high turnover.
• 31:48
  SPEAKER_01: I don't want to have a high turnover business, I just want to have a great group.
• 31:53
  SPEAKER_01: I want us to feel like a team from the get-go.
• 31:55
  SPEAKER_01: I always said, you know, we're going to the penthouse.
• 31:57
  SPEAKER_01: We're going to the penthouse with me and Shelly is great, but going to the penthouse with a group, all of us going up together.
• 32:04
  SPEAKER_01: I mean, that's what it's all about.
• 32:05
  SPEAKER_01: I mean, that's amazing.
• 32:06
  SPEAKER_01: You know, then we're a team, you know, we're like a football team, we're like a platoon, we're like fighting these battles when we have times of adversity, like you know, last year when the interest rates went up and the market started to shift.
• 32:17
  SPEAKER_01: You know, if you don't have good people, they're gonna jump ship.
• 32:20
  SPEAKER_01: But if you have good people, invest in good people, they're going to fight with you to get over these difficult times in life and difficult times in business.
• 32:29
  SPEAKER_01: And uh, we'd have that, and we're very fortunate.
• 32:32
  SPEAKER_01: And you know, we we appreciate everything they do and we try to pay them as much as we possibly can within reason.
• 32:38
  SPEAKER_00: Shout out to the AR REI freedom team.
• 32:41
  SPEAKER_00: You mentioned you never want to retire, and I mean, I think I think that's how a lot of entrepreneurs feel.
• 32:49
  SPEAKER_00: Do you have plans with that being said?
• 32:51
  SPEAKER_00: Do you have plans to go into bigger opportunities in real estate, such as commercial real estate, where you may be able to impact hundreds or or thousands of people in the community at once with one with one deal?
• 33:01
  SPEAKER_01: Yeah, you know, it's it's another great question, Tony.
• 33:03
  SPEAKER_01: At this time, probably not.
• 33:04
  SPEAKER_01: You know, right now I want to focus on just continuing to improve our home buying businesses and build our coaching program.
• 33:11
  SPEAKER_01: I feel like our coaching program can be something really special here.
• 33:14
  SPEAKER_01: Um, and you know, owning three businesses that are pretty special that provide that much value.
• 33:19
  SPEAKER_01: Um, there's a lot to take out of that.
• 33:20
  SPEAKER_01: What I'd like to do though is take those resources and continue to invest them into the ability for my wife and I to own more real estate.
• 33:28
  SPEAKER_01: Uh, you know, we own some short-term rentals, some long-term rentals, some multifamilies, some single families.
• 33:32
  SPEAKER_01: We have some great partnerships.
• 33:34
  SPEAKER_01: You know, I want to look into other opportunities to invest.
• 33:36
  SPEAKER_01: You know, would we look into mobile home parks and storage facilities?
• 33:40
  SPEAKER_01: Sure.
• 33:40
  SPEAKER_01: Um, but right now, you know, I'm just trying to keep it super focused, but I'm sure as the years go by, you know, there's gonna be times that I want to, you know, diversify and do different things and learn new things and tackle new things and build new things.
• 33:54
  SPEAKER_01: It's fun.
• 33:55
  SPEAKER_01: Like, you know, this business is hard.
• 33:57
  SPEAKER_01: And if anybody tells you it's not, they're freaking lying, it's hard, it's hard, it's hard.
• 34:01
  SPEAKER_01: Uh, but I love it, man.
• 34:03
  SPEAKER_01: I do, you know, even with the sleepless nights and the gut check moments along the way, you know, I don't feel like I work.
• 34:09
  SPEAKER_01: I feel like I do something that I love to do every day.
• 34:12
  SPEAKER_01: That alone is amazing.
• 34:13
  SPEAKER_01: I never thought I was gonna have that opportunity being a high-rise window cleaner, you know, hanging off a skyscraper, getting carried covered in black suit, or being a framer in the middle of the winter up here in the northeast and working outside in the cold all the time, or the time I worked as janitors, you know, cleaning toilets and all that stuff.
• 34:30
  SPEAKER_01: I've done it all, right?
• 34:31
  SPEAKER_01: So I'm very, very grateful that I get to make a good living working with great people, providing value in the community, and I have a lot of freedom and time.
• 34:39
  SPEAKER_01: And you know, Shelly also reminds me a lot when like I get overwhelmed by these problems in our business.
• 34:45
  SPEAKER_01: There was a time in my life I would have begged to have a business or opportunity where these problems were part of my life, and that's always a good reminder for me.
• 34:54
  SPEAKER_01: And I when I get overwhelmed with all these problems that happen sometimes, I remind myself of that, and it just keeps me feeling great about where we are and what we're doing.
• 35:04
  SPEAKER_01: Perspective, perspective, perspective, 100%.
• 35:07
  SPEAKER_01: Yeah, yeah.
• 35:08
  SPEAKER_01: I'm lucky, man.
• 35:10
  SPEAKER_01: I'm lucky.
• 35:10
  SPEAKER_01: I live a great life.
• 35:11
  SPEAKER_01: It's not easy, but nobody has an easy life, but I'm lucky.
• 35:14
  SPEAKER_01: I I work every day with my beautiful wife.
• 35:17
  SPEAKER_00: I I think it's easy to not have the perspective, no matter where you're at.
• 35:22
  SPEAKER_00: It's easy to feel bad for yourself.
• 35:23
  SPEAKER_00: Oh, I have X, Y, and Z going on, which your past self would have loved to have X, Y, and Z going on, even though now it's it's a it's a problem.
• 35:32
  SPEAKER_00: Yep.
• 35:32
  SPEAKER_00: So we we touch on a lot of the intangible stuff, the coaching, the team, your wife's role in the business.
• 35:40
  SPEAKER_00: One one more thing I had uh a question on regarding that is man, you you were really connected to investing before you were even an investor, both with you know, being on unfortunately the the opposite side, uh, when when your mother had her house foreclosed on, and when you almost had your house foreclosed on.
• 36:01
  SPEAKER_00: Is that something you guys really try and go for a lot?
• 36:03
  SPEAKER_00: Is helping people who are going through that foreclosure process?
• 36:06
  SPEAKER_00: Is that one of your guys' main areas of it's not a main area?
• 36:10
  SPEAKER_01: Um, you know, obviously we help people when that comes across, but our marketing channels, we we reach out to anything that falls in different kinds of distress.
• 36:18
  SPEAKER_01: So it could be, you know, uh probate situations, inherited houses situations, vacant situations, tax delinquent situations, elderly, you know, that have um houses that are just kind of deteriorating around them, hoarding situations, um, bad tenant situations.
• 36:33
  SPEAKER_01: Uh you name it, we've seen it all, we deal with it all.
• 36:36
  SPEAKER_01: Um, we're a large volume company, so we don't have a specific niche when it comes to that kind of um distress.
• 36:43
  SPEAKER_01: We look to work with all distress and and help as many people as we possibly can and acquire as many properties as we can.
• 36:50
  SPEAKER_01: We're looking to acquire eight to ten plus properties every single month.
• 36:55
  SPEAKER_00: Now, acquire do you mean get under contract and then wholesale or flip or just we do it all, yeah.
• 37:00
  SPEAKER_01: So we get it under contract.
• 37:02
  SPEAKER_01: Um, we we don't wholesale a ton, we don't assign a lot.
• 37:05
  SPEAKER_01: Um, we do, but not a ton.
• 37:07
  SPEAKER_01: Um, you know, I'd probably say about 30% is assignments, you know, probably about another 30% is probably wholetailslash double transactions.
• 37:19
  SPEAKER_01: We are double closed transactions.
• 37:20
  SPEAKER_01: We work a lot with retail buyers, so a lot of the properties we do, we we market on the MLS, and it's a you know, it's a traditional home buyer that we end up selling the property to.
• 37:30
  SPEAKER_01: And the other 30 is you know, properties that we take down to renovate and or keep as rentals.
• 37:35
  SPEAKER_00: Okay, got it.
• 37:39
  SPEAKER_00: You said eight to ten per month, so that's about what a hundred or so, or just over a hundred percent.
• 37:44
  SPEAKER_01: Yeah, I mean, last year we had a down year.
• 37:46
  SPEAKER_01: Obviously, it was our first year in Florida, and um, you know, and then with New Hampshire, we did 77 last year, 35 in Florida in our first year, and we did uh I don't know, 42 in New Hampshire.
• 37:58
  SPEAKER_01: Previous year we did um about 45 in New Hampshire and did 78 in New York, and then the year before that we did over 100 between New York and Florida as well.
• 38:08
  SPEAKER_01: Um, and sorry, New York and New Hampshire uh a few years ago.
• 38:11
  SPEAKER_01: Um, so we've continued to grow, you know.
• 38:13
  SPEAKER_01: On this, we're on pace this year to do over 100 right now.
• 38:16
  SPEAKER_01: Um, but you know, some of that stuff's out of our control.
• 38:19
  SPEAKER_01: We do the best we can.
• 38:20
  SPEAKER_01: You know, we had a lot of people that were locked in their homes, even if they wanted to sell their homes, they couldn't afford to go even downsize last year.
• 38:28
  SPEAKER_01: So um that seriously affected how many people we could actually really help.
• 38:32
  SPEAKER_00: So you guys are currently in New Hampshire and Florida, correct?
• 38:35
  SPEAKER_01: Yeah, New Hampshire, we do New Hampshire, Massachusetts, a little bit of Rhode Island, and then Florida, we're based out of the treasure coast, the Port St.
• 38:42
  SPEAKER_01: Lucie area.
• 38:43
  SPEAKER_00: You guys plan on scaling the Rhode Island operation, or are are you looking at any other markets right now?
• 38:48
  SPEAKER_01: You know, we had great success out in Western New York and Rochester and Buffalo.
• 38:52
  SPEAKER_01: We we had for a few years we were out there.
• 38:53
  SPEAKER_01: We actually were in Wichita, Kansas, where we had some um mediocre success for a little while, and then we went to Las Vegas at one point and then failed miserably.
• 39:02
  SPEAKER_01: You know, I think at this point, no, you know, we're New Hampshire, Massachusetts, and we'll do some Rhode Island.
• 39:07
  SPEAKER_01: I don't think we're gonna scale much beyond that here locally.
• 39:10
  SPEAKER_01: Um, we're pretty content with that.
• 39:12
  SPEAKER_01: Uh, we're really taking the less is more approach here on that that that uh specific location.
• 39:17
  SPEAKER_01: But with Florida, I think there's some opportunities to grow there.
• 39:20
  SPEAKER_01: You know, we have uh started doing business in the Lakeland area in Bravard County.
• 39:25
  SPEAKER_01: I think we will continue to explore slowly, carefully um, you know, scaling in Florida over time, but we'll see.
• 39:34
  SPEAKER_00: So it sounds like you guys had maybe tried to scale too fast and failed in in Las Vegas and a couple of those other marks that you said you scaled back on.
• 39:44
  SPEAKER_00: What lessons did you learn from from trying to scale too fast?
• 39:48
  SPEAKER_01: Yeah, I don't know if I you know I've definitely made mistakes from scaling too fast, and I think those have hurt me um in our businesses that we've had.
• 39:57
  SPEAKER_01: Um, you know, Las Vegas was we just couldn't seem to figure it out for some reason.
• 40:02
  SPEAKER_01: And the person we were working with was acquisitions for us um boots on the ground was not a good fit, and um we just decided to abort it after really not getting much traction.
• 40:11
  SPEAKER_01: I think it was going to cost more than we were willing to invest into that.
• 40:14
  SPEAKER_01: You know, Wichita, we had some good success.
• 40:16
  SPEAKER_01: It was a it was a little bit of a tough learning curve.
• 40:18
  SPEAKER_01: Um, but you know, the the person we partnered up with out there decided that they couldn't withstand the length.
• 40:24
  SPEAKER_01: And it's really what it takes is it takes a good year to build something solid in a new market.
• 40:29
  SPEAKER_01: You know, you can't just go in and just start doing things.
• 40:31
  SPEAKER_01: I mean, sometimes people get lucky when they're in Phoenix, Arizona, or the greater Texas, Fort Worth area or Salt Lake City, Utah, and they hit the market at the right time and things work out, but majority of the times it takes one to two years to really, really get stuff going and build something.
• 40:47
  SPEAKER_01: But you know, what I've realized over time is that more is not better.
• 40:52
  SPEAKER_01: Um, you know, we and as investors have this desire to continue to grow and see shiny objects, and it's really hard to hold ourselves back, right?
• 41:03
  SPEAKER_01: You know, like oh, storage units, ooh, multifamilies, ooh, syndication, ooh, you know, ooh, another market.
• 41:08
  SPEAKER_01: And one of my great coaches back in the day, Todd Tobak, really talked about this after I made the mistake.
• 41:13
  SPEAKER_01: And he said, you know, we we think of a secondary market as, you know, ooh, I I take what I know and build in another market, and I'm just gonna do twice as much, but then you end up taking your resources away from that original market, so the original market gets hurt, and a lot of times we leave our original market without really pushing it to the the point of um you know limiting returns, right?
• 41:36
  SPEAKER_01: Like we're we're rather than trying to squeeze all the juice out of that lemon, we get too antsy and we start to go somewhere else, and then we have two markets that are really not performing to the best of their ability.
• 41:46
  SPEAKER_01: So, knowing what I know now, I probably wouldn't have scaled into those other markets, I would have just continued to focus on New Hampshire, Massachusetts.
• 41:53
  SPEAKER_01: I am very excited about the opportunity here in Florida because I love Florida as a state and I love it for long-term equity gain.
• 42:00
  SPEAKER_01: So um, I'm really excited about that opportunity.
• 42:04
  SPEAKER_00: You mentioned shiny object syndrome or more is not better when you have so many opportunities that seem like amazing opportunities and and are opportunities that would be amazing, but they're not for you.
• 42:18
  SPEAKER_00: How do you avoid getting distracted?
• 42:21
  SPEAKER_00: How do you how do you stay focused?
• 42:24
  SPEAKER_01: Uh easy, it's very tempting.
• 42:28
  SPEAKER_01: Um, you know, I try to get, you know, I've learned some from my mistakes.
• 42:32
  SPEAKER_01: I try to have self-discipline, and I try to remind myself that you know, the more I can focus on less, the better I can get out of those things.
• 42:41
  SPEAKER_01: So that's why you're asking me what I want to do in the future.
• 42:43
  SPEAKER_01: Like right now, I just want to focus on those two house buying buying businesses and floor uh in our coaching business.
• 42:48
  SPEAKER_01: That alone is a lot, that requires a lot of my bandwidth.
• 42:52
  SPEAKER_01: I'm probably working more hours now than I have in years, but I'm building something great.
• 42:56
  SPEAKER_01: But if I spread myself out any more, then none of them are really gonna get the best of what I can provide to them.
• 43:02
  SPEAKER_01: So, you know, less is more because I want to provide more.
• 43:05
  SPEAKER_01: And I'm not looking to work more hours, I'm working to let work less hours in, you know, in exchange for more money.
• 43:11
  SPEAKER_01: But with that being said, um, you know, I really want to just focus all my efforts on giving better, giving better project, you know, better businesses and giving out better product, which is the services that our companies provide.
• 43:26
  SPEAKER_00: Yeah.
• 43:27
  SPEAKER_00: After I left New Western, man, I was distracted.
• 43:30
  SPEAKER_00: I was I was exactly what you were doing, or what you were saying is syndicate.
• 43:34
  SPEAKER_00: Do I want to get a go into commercial?
• 43:35
  SPEAKER_00: Do I want to go into development?
• 43:36
  SPEAKER_00: So I want to go into because I'm also licensed because New Western makes me get your license.
• 43:40
  SPEAKER_00: Do I want to be an agent?
• 43:41
  SPEAKER_00: Do I want to be a commercial agent?
• 43:43
  SPEAKER_00: What do I want to do?
• 43:44
  SPEAKER_00: And there's, I mean, I literally, it's funny.
• 43:46
  SPEAKER_00: I spent several hours looking at man, what CRM do I want to use?
• 43:50
  SPEAKER_02: Yeah.
• 43:50
  SPEAKER_00: What what what marketing strategy do I want to use?
• 43:53
  SPEAKER_00: There's so many different things.
• 43:54
  SPEAKER_00: And uh, this book recently that my mentor or one of my mentors recommended to me and I definitely agree with you there that mentors are tremendously valuable because they, you know, they say, you know, ignorant people never learn.
• 44:08
  SPEAKER_00: Smart people learn from their mistakes, but the smartest people they learn from other people's mistakes.
• 44:14
  SPEAKER_00: And so one of the books that my mentor recommended to me was uh The One Thing by Gary Killer.
• 44:20
  SPEAKER_00: I actually have it written.
• 44:21
  SPEAKER_01: Oh, I've read it like five times, yeah.
• 44:23
  SPEAKER_01: Right in my bookshelf right in front of me.
• 44:25
  SPEAKER_00: It's I mean, it's it's game changer because here's a the funny thing is I feel like whenever you actually read these books, it's like it's stuff that we inherently we already know.
• 44:36
  SPEAKER_00: Yeah, it's just stuff that we need to have affirmed, if you will.
• 44:40
  SPEAKER_00: You need like you need to have it confirmed.
• 44:42
  SPEAKER_00: No one, no one actually does it, but then like, oh well, this this you know, multi-billionaire is doing it, might as well do it, right?
• 44:49
  SPEAKER_00: It's yeah, I mean the other one that comes to mind that's like that is um how to win friends and influence people.
• 44:55
  SPEAKER_00: Sure.
• 44:56
  SPEAKER_00: Very, very, very common sense book, but also a very, very, very powerful book.
• 44:59
  SPEAKER_01: Yeah, you know, and I'm an ad sorry, please go.
• 45:03
  SPEAKER_00: No, go ahead.
• 45:04
  SPEAKER_01: Now is now I was just saying, you know, I'm an avid reader, and I I I uh you know, reading is a huge part of my education, but that book, the one thing, is incredibly important and it's right in a lot of ways, and my coaches have echoed it.
• 45:16
  SPEAKER_01: And you know, every time I try to do more than one thing, I see the ramifications of things that um reinforce that I should have just focused on one thing.
• 45:26
  SPEAKER_01: So, as I've learned and been coached over the years, so when we bring our students into our coaching program, we focus on one thing, right?
• 45:33
  SPEAKER_01: We say, Here's a really simple CRM because I don't care about your CRM, you're not making any money trying to figure out what CRM to do, right?
• 45:40
  SPEAKER_01: Marketing channel, we're gonna give you one marketing channel, and when you get really good at that marketing channel, then we're gonna add a second marketing channel, and when you get really good at handling two marketing channels, then we'll add a third, right?
• 45:50
  SPEAKER_01: So we want to keep them focused on one thing and get really good at one thing because the last thing you ever want to do is be a jack of all trades and master of none, right?
• 45:58
  SPEAKER_01: So you need to really just focus.
• 46:00
  SPEAKER_01: So we know when our coach our students come into our coaching program, we really try to just get them to focus on one thing, get really good at that before moving on, because then they're gonna be like, Well, let's do sub two, let's do innovations, let's do seller financing, let's do flips.
• 46:13
  SPEAKER_01: I want to get into syndication.
• 46:15
  SPEAKER_01: It's like, dude, you're not gonna do anything.
• 46:16
  SPEAKER_01: Let's just get really good at acquiring off-market properties with one postcard right now, and then let's get you really good at handling those calls, going on appointments, and getting better conversions, right?
• 46:26
  SPEAKER_01: And let's work on getting better revenue on the exit side of things.
• 46:30
  SPEAKER_01: Let's just focus on that, get really, really good at that, then we can explore different things.
• 46:35
  SPEAKER_01: But we're all impatient by nature, so it's hard.
• 46:37
  SPEAKER_00: And I mean, that's that's when a lot of people quit, is because they see, like, oh shit, it actually takes work to do this.
• 46:45
  SPEAKER_00: It's not, oh, I can do this and this, and you can't do everything, yeah.
• 46:48
  SPEAKER_00: But and it takes work, so that's when I end up quitting.
• 46:51
  SPEAKER_00: And you know, do you know Alex Tramosi?
• 46:54
  SPEAKER_01: Yes, yeah, of course.
• 46:55
  SPEAKER_00: You know, he always talks about the uh I can't remember all the all the different ones, but it's like Valley of Despair, where you you know, you you have that big that big hump, and then you go down to the valley of despair, you realize how hard it actually is, and then most people don't go back up, but that's when you actually start building an actual business.
• 47:14
  SPEAKER_00: You actually start realizing, oh shit, this is tough, but I can do it and I'm gonna do it.
• 47:18
  SPEAKER_00: I'm gonna stick with it.
• 47:19
  SPEAKER_00: Most people end here at the Valley of Despair and go on to some other opportunity.
• 47:24
  SPEAKER_01: 100%.
• 47:25
  SPEAKER_01: Yeah, I think it's Seth Goodwin or Seth Go.
• 47:27
  SPEAKER_01: I think it's Seth Goodwin, he has the dip, uh, and it's very similar.
• 47:31
  SPEAKER_01: You know, a lot you go down to that dip, and a lot of people quit before they're going back up.
• 47:35
  SPEAKER_01: You know, the dips are just inevitable.
• 47:36
  SPEAKER_01: I still experience them now, and you know, it's also like that old um, you know, cliche um quote about stopping, like you know, a few feet from gold, right?
• 47:45
  SPEAKER_01: Look, this business is hard.
• 47:47
  SPEAKER_01: And one of the things that I'm really passionate about now with our coaching program is really just being transparent with that because everything on social media just makes it look like it's so easy and so I'm just gonna be a wholesaler.
• 47:57
  SPEAKER_01: I've saw some videos on YouTube and I'm gonna start crushing my life's gonna, it doesn't work that way, it's a freaking hard thing to do, and it takes a lot of work.
• 48:06
  SPEAKER_01: So, you know, I even with our students, I want to be like, dude, you gotta be or dude or miss, do that.
• 48:11
  SPEAKER_01: I want you guys to be fully committed for a year because it takes a year of you busting your ass and being all in.
• 48:18
  SPEAKER_01: I mean hyper focused, all in to build something great.
• 48:21
  SPEAKER_01: If you try to do anything last, you're never gonna achieve, and that's why so many people feel.
• 48:26
  SPEAKER_01: I've been in this business a long time.
• 48:28
  SPEAKER_01: I've in my market, you know, this being a couple of us that have persevered this whole time.
• 48:33
  SPEAKER_01: Meanwhile, I've seen hundreds of people just come and go, hundreds, because they that's not what they expect it to be.
• 48:40
  SPEAKER_00: I think it's in my let talks about the power of one more.
• 48:43
  SPEAKER_00: Yeah, I also think that not even just one more, I think the power of zero to one.
• 48:50
  SPEAKER_00: Because most people they again they want to pop, pop, pop, pop from different opportunities without even getting to one.
• 48:57
  SPEAKER_00: They won't do one, or maybe they'll do one wholesale deal, and they're like, Okay, I'm I'm ready for the big lease, I'm gonna go wholesale commercial real estate because I saw Jerry Norton do it, or I saw Pace Morby do it, or you know, like because you see people that are ahead of you, and some of these people, it's funny because some of these people, like obviously Pace Morvey, Jerry Norton are way ahead of the people that have done one deal, but there's some people who have you know, maybe they're making 10,000 a month, so not too far ahead, right?
• 49:21
  SPEAKER_00: Yes, but they're doing three different things, but that's why they're making 10,000 a month, yeah, right?
• 49:28
  SPEAKER_00: And what 10,000 instead of you know a hundred thousand, and so you see that and and you think that's the right thing because I'm making two thousand a month.
• 49:37
  SPEAKER_00: I know so it's it's it's hard, you know.
• 49:40
  SPEAKER_01: That's something I battle with, and I think that's where social media can get tough, right?
• 49:43
  SPEAKER_01: Comparing ourselves to others, you know, you know, at times it can keep us inspired, but at times it can make us feel inadequate or feel like we're not doing enough.
• 49:52
  SPEAKER_01: Um, so we have to be careful with that.
• 49:53
  SPEAKER_01: You know, there's a good book, The Gap and the Gain.
• 49:55
  SPEAKER_01: Uh, you know, we're so focused on the gain ahead, we don't realize the gap that we've made, and I think that reflection on the gap and how far we've come, regardless of where you are with your peers.
• 50:05
  SPEAKER_01: One of the things we like to say, my wife and I is like, you know, this this the investment journey, this business, right?
• 50:10
  SPEAKER_01: Entrepreneurship's a marathon, and we've run a lot of marathons in our lives, right?
• 50:14
  SPEAKER_01: Some people are just super fast and win marathons, but a lot of us just finish marathons, and we do and finishing a marathon is a great accomplishment.
• 50:23
  SPEAKER_01: But with that being said, you may be running side by side with somebody for the first five miles, and then they run ahead, and for miles five to 20, they are crushing you, and all of a sudden you catch up with them mile 20 to 26 and pass ahead of them at the end of the line.
• 50:37
  SPEAKER_01: So we all have like different like times and speeds that we have our journey of success.
• 50:44
  SPEAKER_01: So we have to be careful comparing ourselves to somebody else because they may even appear ahead of us, but they may not be, or you know, or they may be now, but doesn't mean you won't be down the road.
• 50:54
  SPEAKER_01: So it's really just important just focus on yourself as hot as that can be at times.
• 50:57
  SPEAKER_00: It's I think it's it's again it's perspective because you know, for example, I I think for me personally, the number one person I think of when I think of real estate, the most successful person I think of is Grant Cardone, right?
• 51:11
  SPEAKER_00: But Grant Cardone, I think he, if I remember correctly, he didn't start his business until he was like 35.
• 51:16
  SPEAKER_00: He was in sales or 25 or something, car sales, and you know, there's a lot of young people who are like, Oh, I need to go do what Grant Cardone is doing.
• 51:24
  SPEAKER_00: And Grant Cardone has like 20 businesses now, but yeah, commercial, I need to start a coaching business, which is another another terrible thing.
• 51:31
  SPEAKER_00: Is you know, so many people who have not done the thing want to start a coaching business because it's easier.
• 51:37
  SPEAKER_01: We were talking about that this morning, yeah, yeah, for sure.
• 51:40
  SPEAKER_01: My wife talked about it, you know, and one of the things we're gonna be talking about on one of our in our Facebook group, REI Freedom, and we're giving this as a live talk, is like, you know, when you go to get your coaches, make sure they have some bumps and bruises, they've they've weathered some storms because you know it's really disingenuous.
• 51:56
  SPEAKER_01: Oh, I've gotten one wholesale deal, now I'm gonna go teach other people how to do it, right?
• 51:59
  SPEAKER_01: And you know, that's tough.
• 52:01
  SPEAKER_01: And even if people in certain markets who have had nothing but up and to the right successive have not failed, you got to be careful with that because what what happens when you do face adversity?
• 52:11
  SPEAKER_01: Because it's gonna happen.
• 52:12
  SPEAKER_01: You want to make sure you have a coach that can guide you through some of those tough challenges.
• 52:15
  SPEAKER_01: Yeah, you know, Garant Condone, I think you know, he's had a little bit of both.
• 52:18
  SPEAKER_01: You know, I don't follow him too, too much.
• 52:20
  SPEAKER_01: You know, he's on a different level that I don't aim to be.
• 52:23
  SPEAKER_01: Um, but you know, I see you know, you don't get to where you are without doing a lot of great things.
• 52:29
  SPEAKER_00: Yeah, yeah.
• 52:32
  SPEAKER_00: Because you can, I mean, you think about a coach that's that, for example, has done one deal and they're like, Oh, well, I'm I'm having an X, Y, and Z issue.
• 52:39
  SPEAKER_00: You, if someone came to you, you're like, Oh, do this, I've done this a million times, boom, done.
• 52:45
  SPEAKER_00: For someone else, it's like, uh, I don't know, that try and tell them that just screw off.
• 52:51
  SPEAKER_00: I don't know.
• 52:51
  SPEAKER_01: Yeah, no, and that's why people struggle with coaches, and just like you know, wholesale is having a bad name, coaches have a bad name, you know, in any industry, this you know, you got to be careful, vet who you want to do business with, you know, um, you know, and make sure you get somebody that you vibe with too, which is really, really important.
• 53:10
  SPEAKER_00: Yeah, you were talking about earlier a minute ago, uh different marketing strategies.
• 53:15
  SPEAKER_00: So getting into the nitty-gritty, can you explain the methods you use for your marketing to find sellers that you can solve problems and and and provide value to?
• 53:26
  SPEAKER_01: Yeah, absolutely.
• 53:27
  SPEAKER_01: A lot of people ask me about marketing all the time.
• 53:29
  SPEAKER_01: They ask me, What's your what's your secret of success?
• 53:32
  SPEAKER_01: I'm like, Well, none of it.
• 53:34
  SPEAKER_01: Marketing all works, but it's all okay.
• 53:38
  SPEAKER_01: What really makes marketing work is your ability to take that lead that comes in and generate it to revenue, your skill set to convert that call to an appointment, to a contract, to revenue.
• 53:50
  SPEAKER_01: So, you know, that's what our coaching program is really good about teaching the ability to take those leads and convert it.
• 53:56
  SPEAKER_01: That's where you know, somebody who is okay at wholesaling and the difference of them being great is that ability there.
• 54:03
  SPEAKER_01: But with that being said, you know, it's really about the KPI.
• 54:06
  SPEAKER_01: So the marketing is different in every market.
• 54:09
  SPEAKER_01: Um, you know, we found things work great in Buffalo, New York, but don't work good in New Hampshire.
• 54:14
  SPEAKER_01: Some things that work great in Florida that don't work good in Massachusetts, right?
• 54:18
  SPEAKER_01: So we test and retest marketing all the time and track our KPIs.
• 54:22
  SPEAKER_01: Our KPIs guide us on which marketing channels work the best.
• 54:26
  SPEAKER_01: You know, here up north, we found over the time that SEO and PPC has been one of our leading marketing channels.
• 54:33
  SPEAKER_01: In Florida, we can't get any traction on it at all.
• 54:37
  SPEAKER_01: In new in New York, it worked great.
• 54:39
  SPEAKER_01: Mailing has been a staple in our business in New Hampshire, in Massachusetts, for the first handful of years we did business, and now it's kind of like eh.
• 54:47
  SPEAKER_01: But in Florida, it rocks it.
• 54:49
  SPEAKER_01: In New York, it did terrible.
• 54:52
  SPEAKER_01: Cold calling works great in Florida, sucks up here in New Hampshire, Massachusetts.
• 54:56
  SPEAKER_01: So you have to just try, but you have to test and retest because mailing doesn't work one year, doesn't mean it won't work the next year.
• 55:03
  SPEAKER_01: We had an absentee equity list that was awesome one year, and then the next year it generated nothing to the next year being a rock star again.
• 55:12
  SPEAKER_01: So there is no magic, you know.
• 55:15
  SPEAKER_01: You you get really good at one marketing channel, you then you start exploring others, and as you grow into a business like ours, we test and retest and test and retest.
• 55:23
  SPEAKER_01: And um, you know, the ones that work, we stay with them and try to get the best we can out of them.
• 55:28
  SPEAKER_01: And if the ones start performing, then we test other ones.
• 55:31
  SPEAKER_01: Um, but you know, it's really again, it comes down to your ability to take those leads.
• 55:36
  SPEAKER_01: So when somebody calls and says, Hey, I might be interested in selling my home, and turning that into something is what separates the good from the great in this industry.
• 55:46
  SPEAKER_00: I don't want to give away too much sauce from your coaching program, but I'll give it all away right now.
• 55:51
  SPEAKER_00: What do you want to know?
• 55:52
  SPEAKER_00: If you're talking to a newer wholesaler or a brand new wholesaler and they're running in circles like I was when I first started, they're running in circles.
• 56:01
  SPEAKER_00: What again, what I mean, what CRM, what marketing channel do I use, what list do I pull?
• 56:06
  SPEAKER_00: That's a big thing, especially when you're doing going direct to seller because you're spending money that you don't have yet or that the business hasn't generated.
• 56:13
  SPEAKER_00: How can you simplify it to where you're just taking action?
• 56:16
  SPEAKER_00: Because as you said, the only way to find out what works is to try each thing and and in some cases fail.
• 56:24
  SPEAKER_01: Yeah, so when you're getting started and you have really no money, it gets really, really tough.
• 56:27
  SPEAKER_01: What I like to do in those situations is I like to pull distress lists from um local um municipalities, right?
• 56:35
  SPEAKER_01: You can go to the get it from like the the code enforcer to get code violations, you can go to the tax collector and get tax delinquent lists.
• 56:42
  SPEAKER_01: Um, you know, you can go down to the the court and get our list of probates or pre-probates or um eviction lists, you know, anything like that does distress.
• 56:51
  SPEAKER_01: There's a bunch of them, right?
• 56:52
  SPEAKER_01: And then you can just send them a basic postcard, just says, Hey, uh, have you considered uh a cash offer on your property at 123 Main Street?
• 57:01
  SPEAKER_01: If so, I would like to offer a fast cash, you know, quick cash, hassle-free closing or whatever the thing says, text me, call me back, right?
• 57:09
  SPEAKER_01: It can be super simple, but you don't just mail them, you mail them like once a month, and then you call them, and then you text them, and then you like do ringless voicemails, like you have to hit them from all different angles because a lot of these people are hiding under a rock, hoping all these problems in their lives go away, but that isn't reality, and they're getting hit by you know bill collectors and everything else, and your competition.
• 57:33
  SPEAKER_01: So, how do you separate yourself?
• 57:34
  SPEAKER_01: Well, being relentless, but the reality is where most people go wrong is they make it about the numbers.
• 57:40
  SPEAKER_01: So when a wholesaler who's new and doesn't know much, they go in and they say, Well, your house needs a new roof, it needs a new kitchen, the ARV is 200,000, the best I can do is a hundred thousand dollars, right?
• 57:49
  SPEAKER_01: They make it all about the numbers.
• 57:51
  SPEAKER_01: That doesn't work, that makes it a negotiation where everybody's like just basically drawing a line in the sand, and whoever crosses that line loses the negotiation.
• 57:59
  SPEAKER_01: We don't want that, it has to come from a place of value.
• 58:03
  SPEAKER_01: You're going in to provide value.
• 58:05
  SPEAKER_01: What is going on in your situation?
• 58:08
  SPEAKER_01: What are you trying to achieve here?
• 58:09
  SPEAKER_01: If you can get this fixed, what does that look like?
• 58:11
  SPEAKER_01: Where do you want to go?
• 58:12
  SPEAKER_01: And then you need to start figuring out ways to provide value and solutions for that problem in exchange for equity.
• 58:19
  SPEAKER_01: We don't make it about the numbers.
• 58:20
  SPEAKER_01: We are a consultant and a friend trying to help somebody out of a tough situation.
• 58:24
  SPEAKER_01: Once we show them how much value we can provide, the numbers part's easy part.
• 58:29
  SPEAKER_01: It's helping them to get to the next place that's a hard part.
• 58:33
  SPEAKER_01: That's why, as a wholesaler, if you're making you know$5,000 a deal, great, but you should be making$50,000 to$100,000 a deal.
• 58:40
  SPEAKER_01: And if our flipper comes in and says you make more money wholesaling, you don't do anything, I'm the one that makes all the risks because I'm the one that has to use my cash and do all this bullshit.
• 58:49
  SPEAKER_01: Because you're the one providing value behind the scenes and really hand holding these people and dealing with so much distress and so much you know, family discord and all kinds of crazy stuff that people don't know.
• 59:01
  SPEAKER_01: That's why flippers don't want to go direct to my uh seller, they just want to buy it off the MLS or from a wholesale because they don't want to deal with that shit.
• 59:08
  SPEAKER_01: So you earn your money and you earn your value, and the more people you help and the greater value you provide, the more money you deserve to make.
• 59:16
  SPEAKER_00: What do you think about the saying that real estate wholesale is not real estate?
• 59:22
  SPEAKER_00: It's marketing and sales.
• 59:24
  SPEAKER_01: Well, it is.
• 59:25
  SPEAKER_01: Yeah, the house is just a commodity.
• 59:27
  SPEAKER_01: You you know, investing would be, you know, I I don't want to get like into semantics here, but you know, I guess investing for a lot of people is you're either investing as a um a lender or you're investing into a property that you buy, right?
• 59:40
  SPEAKER_01: But I still think if you're flipping a house, you're a real estate investor.
• 59:42
  SPEAKER_01: Is wholesaling really real estate investing?
• 59:44
  SPEAKER_01: No, you're a um you're a uh people first business providing value to your community.
• 59:52
  SPEAKER_01: The house is just a commodity.
• 59:53
  SPEAKER_01: I like that's why I don't give a shit.
• 59:55
  SPEAKER_01: Sorry about keep swearing, but I don't really care about if the house is in good shape or in bad shape.
• 1:00:00
  SPEAKER_01: I don't I'm gonna find a way to make revenue off of it either way.
• 1:00:04
  SPEAKER_01: So I need to go in and just help people.
• 1:00:06
  SPEAKER_01: So we're a people business in a marketing company.
• 1:00:09
  SPEAKER_01: 100% I agree with that.
• 1:00:11
  SPEAKER_00: I love that wording, people business, not marketing.
• 1:00:13
  SPEAKER_01: Or I mean it is marketing, but it's yeah, we're a marketing business where we're aiming to provide value to people who are distressed.
• 1:00:20
  SPEAKER_01: We're a people first business.
• 1:00:21
  SPEAKER_01: We help them out of their situation, we make money.
• 1:00:24
  SPEAKER_01: We don't help them, or you know, sometimes we help them to go to something else that may be better for us, and we don't make money.
• 1:00:29
  SPEAKER_01: But in general, if we're not helping people, we're not making money.
• 1:00:32
  SPEAKER_01: You know, if you're just trying to go in and just lowball people with offers all day, every day, you're not gonna find anybody, you're not gonna do anything.
• 1:00:38
  SPEAKER_00: Yep.
• 1:00:40
  SPEAKER_00: If I'm a new wholesaler, let's say I have let's say I have a thousand dollars, so I have some money, I guess, to spend, and I need to make five thousand to pay some bills in the next month.
• 1:00:53
  SPEAKER_00: What is the course of action?
• 1:00:55
  SPEAKER_01: Well, you're not going to.
• 1:00:57
  SPEAKER_01: So I would say, you know, most people, if you are first of all, I I personally believe, and this isn't a plug for my own coaching program because I don't I don't care what coaching program you go into.
• 1:01:08
  SPEAKER_01: If you want to become a wholesaler, you need to find enough money to scrounge up to invest into a coaching program.
• 1:01:15
  SPEAKER_01: You know, the the thoughts are that you can just take a thousand bucks and turn it into a million dollars in this business.
• 1:01:20
  SPEAKER_01: You know, some people can do that, but it's very, very few that have success.
• 1:01:25
  SPEAKER_01: This is a business, it requires some money up front to do that.
• 1:01:28
  SPEAKER_01: And having instruction is so helpful.
• 1:01:32
  SPEAKER_01: The reason why I closed my first deal in 90 days was because I had a coach that told me actual steps I needed to do when I went through that coaching program and I knew I read a lot of books, I knew what wholesaling was.
• 1:01:42
  SPEAKER_01: All I kept thinking to myself is like, wow, there's so much I don't know.
• 1:01:46
  SPEAKER_01: Wow, I would have never thought about that.
• 1:01:48
  SPEAKER_01: Wow, I can't believe how you know I was just mind-blown how much I didn't know.
• 1:01:52
  SPEAKER_01: And I got my first deal in 90 days, which paid back my coaching program.
• 1:01:56
  SPEAKER_01: Um, so first and foremost, if you can find a way to get into a coaching program, do that.
• 1:02:00
  SPEAKER_01: And then, you know, you're gonna need a couple thousand bucks for marketing.
• 1:02:03
  SPEAKER_01: But if you had a thousand bucks, you know, I would again go pull a tax delinquent list, go pull a code violation list, and then you know, if you have no money, then you should be, you know, you know, leaving letters on their door, knocking on their door.
• 1:02:17
  SPEAKER_01: I mean, that's what it's gonna take, you know.
• 1:02:19
  SPEAKER_01: Um, but it's very rare for anybody to get a deal in their first 30 days.
• 1:02:23
  SPEAKER_01: We tell everybody, even with coaching, you know, you need to expect it's gonna probably take 90 to 120 days to get your first deal.
• 1:02:29
  SPEAKER_01: That first year, you're lucky to do a dozen deals.
• 1:02:33
  SPEAKER_01: Most people don't.
• 1:02:34
  SPEAKER_01: If you do a dozen deals, that's really good.
• 1:02:36
  SPEAKER_01: But what happens after that first year is you set yourself up in a position where you start doing one or two deals a month or more.
• 1:02:43
  SPEAKER_00: I think another thing now, and I'm not, you know, Jeremy, I'm not I'm not a part of your coaching program, but I think that from what I can tell, how much you've invested into yourself, into your business, investing into other coaches.
• 1:02:57
  SPEAKER_00: When you invest in Jeremy's coaching program, you're investing in not only Jeremy's knowledge, you're investing in the knowledge that he's invested in.
• 1:03:05
  SPEAKER_00: So, you know, I don't know how much your program is, but they invest X, Y, and Z into your program, and they're getting Jeremy's program, but they're also getting the education from X, Y, and Z programs that you've been a part of as well.
• 1:03:17
  SPEAKER_01: Well, they're not just getting my program, they're getting the$250 plus thousand dollars I invested in learning from other coaches over the last eight years, my eight years of success, failures, triumphs, and you know, troubles and challenges and all that stuff, right?
• 1:03:31
  SPEAKER_01: So you're accumulating all that, but also Dan Tobak's 600 close deals over the last 10 years with all the things that he's learned underneath his two brothers that have been doing it for the better part of 20 years, so you're accumulating all that into our knowledge.
• 1:03:49
  SPEAKER_01: Are we the end-all, be all and everything?
• 1:03:51
  SPEAKER_01: No, we're just damn good at learning how to get markets off property.
• 1:03:55
  SPEAKER_01: You know, if you want to be an expert in ovations, I'm not that person.
• 1:03:58
  SPEAKER_01: You want to be an expert in creative financing, I'm not that person.
• 1:04:02
  SPEAKER_01: You want to learn how to be syndication?
• 1:04:04
  SPEAKER_01: I am not that person.
• 1:04:05
  SPEAKER_01: But if you want to learn how to get off-market properties from distressed sellers and either do that as a job or build a business, you know, me and Dan can help you in that aspect.
• 1:04:15
  SPEAKER_01: That's what we're good at doing.
• 1:04:18
  SPEAKER_00: Earlier, you mentioned it was a few minutes ago.
• 1:04:21
  SPEAKER_00: Um, what KPIs do you track for marketing?
• 1:04:25
  SPEAKER_00: Everything.
• 1:04:27
  SPEAKER_01: You name it more and more all the time.
• 1:04:29
  SPEAKER_01: Yeah, my business coach has really opened up my eyes over the last year of using him.
• 1:04:33
  SPEAKER_01: Like, you know, we were tracking different things, like just like leads, appointments, you know, um, cost per deal, you know, uh conversions of how many, you know, uh leads to a contract, how many contracts to a close cancellations, but now it's like how many appointments we go on that cancel and why do they cancel and track and why they how different reasons for the cancel to see which ones are you know maybe trending more.
• 1:04:57
  SPEAKER_01: So we track like tons and tons and tons of stuff.
• 1:04:59
  SPEAKER_01: I don't want to bore the guys with details, but I will tell you this when it comes to KPIs, if you think you should track it or not track it, you should track it.
• 1:05:08
  SPEAKER_01: And that I mean, we literally track dozens and dozens and dozens and dozens of things in our business, and it's mind-blowing how much stuff it is, and that's why we have this massive CRM these days because of the high level we're working at.
• 1:05:20
  SPEAKER_01: If we were just brand new, just keep it super simple.
• 1:05:23
  SPEAKER_01: You know, how many leads, right?
• 1:05:25
  SPEAKER_01: You know, how much marketing cost goes out, how many leads that generates, how many people you talk to, how many appointments you go on, how many contracts you get, what is your cost per deal, what's your cost per assignment, you know, how many deals you know, close and don't close.
• 1:05:40
  SPEAKER_01: Keep it super simple.
• 1:05:41
  SPEAKER_01: But as you continue to get better and grow, you want to start tracking more and more and more and more.
• 1:05:48
  SPEAKER_00: Let's say you have a great conversation with a seller, whether door knock, cold call, warm call from a from a post uh uh post postcard.
• 1:05:59
  SPEAKER_00: I feel like, yeah.
• 1:06:00
  SPEAKER_00: I can't I forgot English.
• 1:06:01
  SPEAKER_00: Um, let's say you have a great conversation with the seller.
• 1:06:04
  SPEAKER_00: What is your process like afterwards to go from a securing a contract to your exit strategy to closing and then flipping right whatever you're gonna do with it afterwards?
• 1:06:15
  SPEAKER_01: So yeah, so we always want to pre-market our property.
• 1:06:18
  SPEAKER_01: So, you know, hey, Mr.
• 1:06:19
  SPEAKER_01: and Mrs.
• 1:06:19
  SPEAKER_01: Seller, you know, before we sign this contract, we just want to make sure that you're absolutely sure that you want to move forward with this.
• 1:06:27
  SPEAKER_01: This is exactly what you want to do, right?
• 1:06:29
  SPEAKER_01: We've gone over everything.
• 1:06:30
  SPEAKER_01: I just want to before you sign, I want to make sure this is what you want to do.
• 1:06:33
  SPEAKER_01: Okay, all right, sign.
• 1:06:35
  SPEAKER_01: Okay, next steps is we're going to send this to the title company.
• 1:06:39
  SPEAKER_01: We're gonna open escrow, they're gonna send you some information.
• 1:06:42
  SPEAKER_01: We're gonna need you to fill out that information as quickly as possible and get it back in.
• 1:06:46
  SPEAKER_01: In the meantime, we're gonna start marketing your property out to other investors and buyers in the area.
• 1:06:52
  SPEAKER_01: What we want to do is a week out from now, we're gonna need an hour where we need access to your property, and we're gonna have everybody come through your property during this time.
• 1:07:00
  SPEAKER_01: We're gonna come here, we're gonna open up the door.
• 1:07:03
  SPEAKER_01: Whether you're here or not here, it's up to you.
• 1:07:05
  SPEAKER_01: Um, but we're gonna come, everybody's gonna walk through, we're gonna do our own due diligence.
• 1:07:09
  SPEAKER_01: And the next business day, we're gonna decide whether or not we can move forward.
• 1:07:13
  SPEAKER_01: Our goal here is to move forward, but we're gonna know at that time whether or not we can move forward.
• 1:07:17
  SPEAKER_01: If we can't move forward, we're gonna let you know right away that either the numbers don't work or we have to cancel.
• 1:07:22
  SPEAKER_01: Um, if it needs to move forward, then we're gonna get the steps rolling to get you where you need to go.
• 1:07:27
  SPEAKER_01: We're not gonna stream you a letter, we're gonna make sure that you have this information to you very rather quickly.
• 1:07:33
  SPEAKER_01: And then we just basically handhold them and tell them each step, every step along the way, so they know exactly what's going on because most people have never sold a house before.
• 1:07:42
  SPEAKER_01: Yeah, a lot of them don't know what this experience is like, and I think it can get lost with us who have experience that assuming people have knowledge and they don't.
• 1:07:51
  SPEAKER_01: So we want to just keep everything very uh elementary and um transparent through the whole process.
• 1:07:58
  SPEAKER_00: How important is it to be transparent and to confirm what you were saying before?
• 1:08:02
  SPEAKER_00: How important is it to confirm that it is what they want to do?
• 1:08:06
  SPEAKER_00: Because I feel like a lot of newer wholesalers they are afraid they're definitely afraid to ask, are you sure this is what you want to do?
• 1:08:13
  SPEAKER_00: Because they're afraid to lose a contract that they put money and time into.
• 1:08:16
  SPEAKER_00: Yep.
• 1:08:17
  SPEAKER_00: Ultimately they're gonna end up losing it because they back up last minute.
• 1:08:21
  SPEAKER_00: That's it.
• 1:08:22
  SPEAKER_01: Right?
• 1:08:23
  SPEAKER_01: Because that's what happens is they you know, they get sellers' guilt, right?
• 1:08:26
  SPEAKER_01: Seller's remorse, right?
• 1:08:27
  SPEAKER_01: So you know it's all about um providing the seller with enough surety that they want to go forward.
• 1:08:33
  SPEAKER_01: So yeah, it's scary to ask them do you want to um you know move forward?
• 1:08:38
  SPEAKER_01: Because they may say no, but if they say uh if you don't ask them and then you move forward, they're probably like you said, they're gonna cancel anyway, right?
• 1:08:47
  SPEAKER_01: So we need to make sure that they are 100% wanting to move forward.
• 1:08:52
  SPEAKER_01: When we're talking to them on this uh their incoming call script, we say, Are you talking to other investors?
• 1:08:58
  SPEAKER_01: Imagine that.
• 1:08:59
  SPEAKER_01: I don't do I even want to tell them to talk to other investors.
• 1:09:03
  SPEAKER_01: What if they start shopping around and I don't win it, right?
• 1:09:05
  SPEAKER_01: But you need to know are they talking to other people?
• 1:09:08
  SPEAKER_01: We want to know because we know how to navigate that if they are so it gets scary, but we never want to manipulate or sell people in this process.
• 1:09:17
  SPEAKER_01: They're either buying in and selling us.
• 1:09:20
  SPEAKER_01: We teach our students and in our in the way we work this is they sell us to buy their house.
• 1:09:26
  SPEAKER_01: They're like, No, you're the buyer for me, and we're pulling away.
• 1:09:30
  SPEAKER_01: We're like, I don't know if we're the buyer for you.
• 1:09:32
  SPEAKER_01: We want to help you, but I'm not sure we're the buyer.
• 1:09:34
  SPEAKER_01: And they're like, No, no, you are, you are come back, come back, come back.
• 1:09:37
  SPEAKER_01: That's how we approach it, right?
• 1:09:39
  SPEAKER_01: So, what happens when you chase a dog?
• 1:09:41
  SPEAKER_01: Turns around, right?
• 1:09:42
  SPEAKER_01: What happens when you stop and run away?
• 1:09:45
  SPEAKER_01: The dog chases you.
• 1:09:46
  SPEAKER_01: So we always want the dogs chasing us, and we want to make sure that you know, when it comes to the sellers, that um, you know, they are um, you know, they're working on um, you know, not having any guilt.
• 1:09:59
  SPEAKER_01: You know, we call that um perceived ownership.
• 1:10:02
  SPEAKER_01: So what we want is them to feel like this decision is theirs and theirs only.
• 1:10:07
  SPEAKER_01: So yeah, we're gonna give them every chance possible to cancel and not move forward.
• 1:10:14
  SPEAKER_00: How important is it to make an actual relationship with it with your sellers and to then also what I'm thinking about is you know, you're you said you guys have very, very good Google reviews.
• 1:10:25
  SPEAKER_00: How important is your reputation?
• 1:10:27
  SPEAKER_01: It's everything, everything.
• 1:10:28
  SPEAKER_01: So, again, you need to act with transparency, honesty through the whole thing because if you don't, that reputation is gonna go out there and hurt you.
• 1:10:36
  SPEAKER_01: Last thing you want to do is have people saying on your Google reviews, I didn't want to sell my house, but they forced me in court to sell a house that I and they you know they deceived me and lied to me, right?
• 1:10:46
  SPEAKER_01: People do that stuff, and you don't want to be that person.
• 1:10:49
  SPEAKER_01: You know, there's a lot of times the sellers have backed out on deals that they shouldn't have for whatever reason, and we could have taken them to court and forced the issue, but that isn't them that doesn't do any good if they don't want to sell to us, we don't want to buy it.
• 1:11:01
  SPEAKER_01: So, you know, transparency is everything, be a truth uh seeker, a truth teller.
• 1:11:07
  SPEAKER_01: At the end of the day, we're going in to make a friend, and we're being a consultant, and and with friends, you know, we don't want our friends lying to us, we don't want them being you know, just deceiving us and not being transparent with us.
• 1:11:18
  SPEAKER_01: That's what we want with a friendship, so we're giving that in return, and then yeah, I mean at the end of the day, we're hoping that they love the process and give us Google reviews because the more Google reviews and the more testimonials that we have, the more validity that we are who we are.
• 1:11:36
  SPEAKER_01: And when people start looking us up, they're like, Wow, these people helped a lot of people, and a lot of times in their situation, and when they're going through a situation, even if it means, hey, this other wholesaler can give me$20,000 more, but I don't know if he can come through for me.
• 1:11:53
  SPEAKER_01: Yeah, I know you can, and we win deals for all the time from our competition for less money.
• 1:12:00
  SPEAKER_00: Wow, all the time.
• 1:12:04
  SPEAKER_00: How do you how do you approach evaluating and mitigating the risks that come with wholesaling?
• 1:12:10
  SPEAKER_00: It's not, I mean, I think one of the biggest risks is that not being dishonest with your sellers, and you guys have that covered.
• 1:12:16
  SPEAKER_00: Obviously, there's not as much risk as you know, if you're if you're flipping, um, or if you're actually buying the property, because then you have your money, your hard money, your private money into the property.
• 1:12:27
  SPEAKER_00: How do you evaluate and mitigate your risk?
• 1:12:29
  SPEAKER_01: Well, when it comes to wholesaling, we we live by this, and this is why we say hashtag lock it up.
• 1:12:34
  SPEAKER_01: Okay, at the end of the day, just lock it up as low as possible.
• 1:12:37
  SPEAKER_01: That's what we want to focus on getting good at, providing value to the sellers, locking up as low as possible.
• 1:12:41
  SPEAKER_01: At the end of the day, the buyers are going to determine whether that's a good deal.
• 1:12:44
  SPEAKER_01: You don't need to be an expert on roof costs, rehab costs, anything.
• 1:12:49
  SPEAKER_01: Like we don't, I don't, I don't care if you know anything about rehab numbers, it's irrelevant.
• 1:12:53
  SPEAKER_01: All I want you to be is really good at talking to sellers and providing value and locking deals up as low as possible, and then let the buyers decide if it's a good deal.
• 1:13:00
  SPEAKER_01: If it's too high, you have two options Mr.
• 1:13:04
  SPEAKER_01: and Mrs.
• 1:13:04
  SPEAKER_01: Seller, we market it out to the people in this area.
• 1:13:07
  SPEAKER_01: I can't make this number work, so we can either reduce it to this price and move forward, or we need to cancel the contract.
• 1:13:14
  SPEAKER_01: And sometimes you just cancel the contract, that's just the way it goes.
• 1:13:18
  SPEAKER_01: You can't make a deal, not a deal.
• 1:13:20
  SPEAKER_01: It's either a deal or it's not a deal.
• 1:13:22
  SPEAKER_01: But if we're buying it to keep it as a flip, you know, yeah, we try to do our due diligence and there's always some risk there.
• 1:13:27
  SPEAKER_01: You know, I always have my project manager go in to make sure that the numbers work and all that stuff.
• 1:13:31
  SPEAKER_01: So, you know, it's different as a wholesaler to somebody who's looking to buy properties off market, you know.
• 1:13:36
  SPEAKER_01: And when you're buying properties off market directly, sell it, you know, you and you're going to physically buy the property and and you know do work on it or keep it, you need to do your due diligence for sure.
• 1:13:47
  SPEAKER_00: What is your what is your guys' close rate?
• 1:13:50
  SPEAKER_00: How many, how often do you have to drop contracts?
• 1:13:52
  SPEAKER_01: Uh in Florida, it's about 30% in New Hampshire and um um Massachusetts have been historically about 40%.
• 1:14:00
  SPEAKER_00: 40% is how many you have to drop, or how many you guys end up closing on?
• 1:14:04
  SPEAKER_01: Uh 40 we cancel in historically.
• 1:14:07
  SPEAKER_01: So, you know, we're closing six out of 10.
• 1:14:09
  SPEAKER_01: But that's not just because we locked up deals as much as possible.
• 1:14:12
  SPEAKER_01: A lot of that times is we can't get clear title.
• 1:14:14
  SPEAKER_01: You know, the sellers do change their mind.
• 1:14:17
  SPEAKER_01: Um, you know, but yeah, I mean, you know, in New Hampshire, you know, there's no like so if we if there's a mortgage discharge that's not recorded from like 1875, we can't get clear title unless we find the heir of the year over a hundred years ago that can sign off on it.
• 1:14:35
  SPEAKER_01: So, you know, in and here early in the 2000s before the recession, there was a lot of shady stuff going on with mortgage companies, so there's a lot of work to get clear titles.
• 1:14:43
  SPEAKER_01: So, you know, yeah, Sada, if you would take that part, you'd probably, you know, two out of ten, you know, deals fall through because we lock them up too high or can't find a buyer or something like that.
• 1:14:53
  SPEAKER_00: Okay, and now you were you were mentioning earlier that every property you get, you pre-market, although you guys don't you go you don't mainly wholesale anymore, you mainly close on them yourself now, but you always pre-market.
• 1:15:07
  SPEAKER_01: We we pre-market everything.
• 1:15:08
  SPEAKER_01: We take it, you know.
• 1:15:09
  SPEAKER_01: Sometimes we get home runs, we know it.
• 1:15:11
  SPEAKER_01: We'll just take it down to make sure that nobody tries to backdoor us.
• 1:15:14
  SPEAKER_01: You know, we don't that doesn't happen too often, um, but it happens every now and then.
• 1:15:18
  SPEAKER_01: But yeah, we pre-market everything to just decide what's the best exit strategy.
• 1:15:22
  SPEAKER_01: Should we physically close on this property, clean it out, throw it on the MLS?
• 1:15:26
  SPEAKER_01: Should we renovate the property, or you know, should we just sell it to a retail buyer?
• 1:15:31
  SPEAKER_01: A lot of the properties we get, uh, you know, some are just stressed that go to like a rehab and stuff like that.
• 1:15:36
  SPEAKER_01: But a lot of the properties we get are just kind of need a little bit of love, and they go to you know, somebody buying with a traditional, you know, Fannie Mae, Freddie Mac, you know, conventional financing, yeah, the mortgage, and then we double close on those.
• 1:15:50
  SPEAKER_01: Okay, but but we identify a buyer very early on, okay.
• 1:15:55
  SPEAKER_00: Got it.
• 1:15:56
  SPEAKER_00: It sounds like what you were saying is most wholesalers they overanalyze, they almost are in a way they're over-educated because they're like, Oh, this is a$52,780 uh uh rehab, rather than we have it this flow.
• 1:16:15
  SPEAKER_00: Flippers come on, give me your give, you know.
• 1:16:17
  SPEAKER_00: You you know how you rehab because also flippers.
• 1:16:20
  SPEAKER_00: I mean, I I'm working on one right now at a showing today.
• 1:16:24
  SPEAKER_00: Some flippers, some people might do a 32,000 rehab, some people might do an 80,000 rehab.
• 1:16:29
  SPEAKER_01: It's exactly it.
• 1:16:30
  SPEAKER_01: You never know what anybody's gonna do, and you know, we see it all over social media all the time.
• 1:16:35
  SPEAKER_01: Uh, wholesalers putting rehab budgets that are just completely out of whack, right?
• 1:16:39
  SPEAKER_01: It doesn't matter.
• 1:16:40
  SPEAKER_01: We we haven't put a rehab budget on a deal in like seven years when we market.
• 1:16:45
  SPEAKER_01: We just say this is what the starting price is, come do your own due diligence and take a look at it because I have no idea what anybody wants to do with the property, whether they are one-man contractor flipping their home styles, they have a company, whether they sub it out, like you said, it's gonna cost them$30,000,$80,000.
• 1:17:00
  SPEAKER_01: They want to build extra rooms, additions.
• 1:17:02
  SPEAKER_01: I like I don't know, and I don't care to be an expert.
• 1:17:05
  SPEAKER_01: And honestly, anybody who's trying to be an expert on what kitchens cost, they're focusing the wrong attention.
• 1:17:11
  SPEAKER_01: Their attention should be on getting more deals and talking to people.
• 1:17:14
  SPEAKER_01: That's where the money is made.
• 1:17:16
  SPEAKER_01: Not figuring out how much it costs to lay down flooring through a house.
• 1:17:21
  SPEAKER_00: That said, are there any other factors other than price that you do weigh that you do that you do look at?
• 1:17:30
  SPEAKER_01: No, I mean at the end of the day, we want to know what the true value of the home is, right?
• 1:17:33
  SPEAKER_01: So we try to have an idea what the ARV is going in.
• 1:17:36
  SPEAKER_01: Um, you know, and if the if if it's somebody who's money motivated, they may not be a fit and we may not lock it up if you know we realize that the numbers just don't make sense.
• 1:17:45
  SPEAKER_01: But at the end of the day, you know, it's really simple.
• 1:17:47
  SPEAKER_01: You know, if you're looking to do like a wholetail, right, which is just a house that doesn't need much love and you can throw it right back on the market, 70 80 percent of the if you're in between 70, 80 of the ARV, that works.
• 1:17:59
  SPEAKER_01: If it's a flip or a burr, right, you 50 to 60 cents on the dollar.
• 1:18:03
  SPEAKER_01: We'll work all day, every day for a wholesaler.
• 1:18:05
  SPEAKER_01: And if it's a fire trash house or you know, um basically a house that's like the dilapidated and falling down, right?
• 1:18:12
  SPEAKER_01: It's basically just a teardown.
• 1:18:14
  SPEAKER_01: We just say 20 to 30 cents on the dollar, you're basically more or less buying land.
• 1:18:17
  SPEAKER_01: You know, stick to those numbers, you get it under that contract, that's all it matters.
• 1:18:21
  SPEAKER_01: And again, you want to have many buyers.
• 1:18:23
  SPEAKER_01: If you only have a couple buyers, then you basically are CBE, you're a cash buyer employee, you're gonna go work really hard, get a deal, bring it to your guys, and they're gonna nickel and dime you and beat you down, and you're gonna reduce your price.
• 1:18:33
  SPEAKER_01: The person with the most buyers wins, cash buyers are a diamond dozen.
• 1:18:37
  SPEAKER_01: You should be spending as much time and effort on building your buyers list as you do going to get off-market deals, and you should have thousands and thousands of thousands of cash buyers on your cash buyers list because only 20 of them are real, 80 of them are fake anyway, and never do anything unless the perfect unicorn comes along.
• 1:18:53
  SPEAKER_00: So, yeah, how important is it to maintain an abundance mentality with cash buyers and with sellers in this business?
• 1:19:01
  SPEAKER_01: Everything's abundance, right?
• 1:19:02
  SPEAKER_01: Um, you can't have a scarcity mindset.
• 1:19:05
  SPEAKER_01: Houses are a dime a dozen, you know.
• 1:19:07
  SPEAKER_01: There's so much distress, it's like a conveyor belt, it never ends.
• 1:19:11
  SPEAKER_01: You just got to get better at getting them, finding them, getting them under contract.
• 1:19:15
  SPEAKER_01: You could do a thousand deals in your area, and I'm telling you right now, there's another 500 that you your competition closed around you, right?
• 1:19:22
  SPEAKER_01: And that happens every single year.
• 1:19:24
  SPEAKER_01: Um, and cash buyers, I mean, I mean, they come and go, they're a dime a dozen.
• 1:19:27
  SPEAKER_01: They when you're starting new in this business, they they're like big and scary and mighty and they pompous, but reality is there's just a dime a dozen.
• 1:19:35
  SPEAKER_01: I'm a cash buyer, and you know, we're all can be cash buyers as soon as you learn how to use hard money and other people's money.
• 1:19:41
  SPEAKER_01: It's not anything fancy or anything like you know, um, prestigious.
• 1:19:45
  SPEAKER_01: It's just you know, and people they come and go and they all have different types of properties they want and different styles, so you need to have them.
• 1:19:52
  SPEAKER_01: You know, the more cash buyers you have, the more chances you can sell your property for highest and best.
• 1:19:57
  SPEAKER_01: And they should be fighting you over that deal.
• 1:20:00
  SPEAKER_00: You shouldn't be fighting them to buy it from you, they should be fighting you to buy it, buy it from you, and that's on both ends, as you were saying, pull away from the seller, make them chase you.
• 1:20:09
  SPEAKER_00: Same thing on the uh on the buyer end.
• 1:20:12
  SPEAKER_01: Yeah, we we do our properties in an auction style.
• 1:20:14
  SPEAKER_01: So if they want our properties, they all have to come do their own due diligence and place their office uh highest and best wins.
• 1:20:21
  SPEAKER_00: So even if you're saying you you put it out at we want X, Y, and Z, but so if it if someone comes in at X, Y, and Z, but it's not your close date or it's not to where you want your final offers in, they still have time, someone else still has time to beat them.
• 1:20:36
  SPEAKER_01: Um, so what we do is we market it at five thousand dollars over contract price, okay, and that's the starting bid price.
• 1:20:44
  SPEAKER_01: And we have them come in after they look at the property within you know the next business day, all highest and best offers are due in.
• 1:20:51
  SPEAKER_01: And if they don't get them in, then we'll just take you know, we'll go with the best offer we have and they lose.
• 1:20:56
  SPEAKER_01: And if they get it in and they don't get the assignment done in EMD within like the next 24 to 48 hours, we'll cancel with them and go with somebody else.
• 1:21:03
  SPEAKER_01: We don't fool around.
• 1:21:05
  SPEAKER_00: What is your average assignment fee?
• 1:21:07
  SPEAKER_01: Uh historically it's been 35,000.
• 1:21:09
  SPEAKER_00: Wow, and so that goes up in five thousand dollar equants, five thousand, ten thousand.
• 1:21:14
  SPEAKER_01: No, no, I mean, just I mean, our I should say our exit strategy in as a whole between flips, wholesales, assignments, and everything has been thirty-five thousand.
• 1:21:23
  SPEAKER_01: Um, when we just did assignments only before we went to the MLS and used the power of the MLS, it was twenty thousand.
• 1:21:29
  SPEAKER_00: Okay, and what do you guys charge your cash buyers emd wise?
• 1:21:34
  SPEAKER_00: Five thousand.
• 1:21:35
  SPEAKER_00: Five thousand refundable or not refundable?
• 1:21:37
  SPEAKER_00: Non-refundable, non-refundable, okay.
• 1:21:40
  SPEAKER_01: Unless we can't get clear title, then obviously it goes back.
• 1:21:42
  SPEAKER_01: But you know, if they're gonna pull any shenanigans, you know, we keep it.
• 1:21:45
  SPEAKER_01: I don't care about the five thousand dollars, I just want to hold them accountable.
• 1:21:48
  SPEAKER_00: Yeah, exactly.
• 1:21:50
  SPEAKER_00: Are there any specific resources, books, tools?
• 1:21:53
  SPEAKER_00: Obviously, we've touched quite a bit on coaching that's played a big role in in your career, uh, that have significantly in uh influenced your real estate journey that you'd recommend to those listening.
• 1:22:05
  SPEAKER_01: Man, there's so many great books.
• 1:22:07
  SPEAKER_01: Um, you know, um, obviously, Rich Dad, Poor Dad's a great one.
• 1:22:11
  SPEAKER_01: Um, you know, your next five moves is another great one.
• 1:22:14
  SPEAKER_01: Equity happens is another great one.
• 1:22:16
  SPEAKER_01: I mean, dude, I could give you 50 books, all of them.
• 1:22:19
  SPEAKER_01: Read them all.
• 1:22:20
  SPEAKER_01: Every single one of them is great.
• 1:22:21
  SPEAKER_01: Just continue to read and learn.
• 1:22:23
  SPEAKER_01: I get up every morning early to work on my personal development, not just my physical health, but my education.
• 1:22:28
  SPEAKER_01: I read every single day about anything that's related to personal development, business, and real estate.
• 1:22:34
  SPEAKER_01: I'm constantly learning, even if it's in a niche that I don't do, I still want to work.
• 1:22:40
  SPEAKER_00: Who should and who shouldn't, and why should people join REI Freedom Coaching?
• 1:22:46
  SPEAKER_00: Is that what it's going on?
• 1:22:47
  SPEAKER_01: Yeah, it's REI Freedom Coaching, yeah.
• 1:22:49
  SPEAKER_01: You know, and I appreciate you saying that.
• 1:22:51
  SPEAKER_01: You know, we're not a fit for anybody everybody, right?
• 1:22:53
  SPEAKER_01: Of course.
• 1:22:53
  SPEAKER_01: So, you know, if you're doing you know some deals now and want to get it to that next level, we're a great fit for you.
• 1:23:00
  SPEAKER_01: If you have acquisition people on your team doing deals, right?
• 1:23:03
  SPEAKER_01: Like if you're New Western and have sales guys on your team, you don't have to be as big as New Weston, but you have sales guys on your team, you want them to get extra training and learn the science of sales of acquisitions, they should join our program.
• 1:23:16
  SPEAKER_01: If you're somebody who seriously wants to learn how to build a wholesaling business from the ground up and everything, you want to invest that kind of money and say, you know, this is it, I'm buying a franchise, so to speak, you're gonna teach me everything I need to do, we're a fit for you.
• 1:23:31
  SPEAKER_01: If you're somebody who has no money and has done no deals, and you really uh are just kind of you know hoping to get some some some mentor to do it for free and teach you for that, we're not a fit for that.
• 1:23:43
  SPEAKER_01: Uh, if you're looking to do sub two, multifamily and uh syndication, any of that stuff, we're specifically people who want.
• 1:23:51
  SPEAKER_01: I mean, it's we say wholesalers because it's direct to seller, but if you just want to come with us and say, hey, I want to learn how to acquire six or 12 properties a year because I want to flip or keep them as buying holes, you know, we're we can teach you that.
• 1:24:03
  SPEAKER_01: Whatever you your lifestyle wants to be, we could teach you.
• 1:24:06
  SPEAKER_01: We're gonna just get you really good at acquiring off-market properties.
• 1:24:11
  SPEAKER_00: Okay, off-market properties.
• 1:24:13
  SPEAKER_00: If if anyone is looking to develop their marketing skills, develop their scale sales skills, because I think that's what you mentioned earlier.
• 1:24:21
  SPEAKER_00: Is that marketing?
• 1:24:22
  SPEAKER_00: Anyone can market, anyone can get people in a door.
• 1:24:24
  SPEAKER_00: Do you close them?
• 1:24:24
  SPEAKER_00: Correct.
• 1:24:25
  SPEAKER_00: How low do you close it?
• 1:24:26
  SPEAKER_00: Do you close them on something that you can actually comma close on?
• 1:24:30
  SPEAKER_00: Can you actually close a deal and sign the contract at the closing table?
• 1:24:35
  SPEAKER_00: If you want to develop your off-market uh acquisition skills, join REI Freedom.
• 1:24:40
  SPEAKER_00: That's it.
• 1:24:40
  SPEAKER_00: Couple rapid fire questions for you.
• 1:24:42
  SPEAKER_00: Go do it.
• 1:24:44
  SPEAKER_00: One of them we just touched on.
• 1:24:45
  SPEAKER_00: What's your favorite book or resource?
• 1:24:47
  SPEAKER_00: And I guess you mentioned a few.
• 1:24:49
  SPEAKER_00: So, one, what is your favorite uh book or resource related to real estate investing that has had a major impact on your career?
• 1:24:57
  SPEAKER_01: I see one right now that I really love, and it's Equity Happens.
• 1:25:02
  SPEAKER_01: Right here.
• 1:25:04
  SPEAKER_01: Equity happens.
• 1:25:05
  SPEAKER_01: I bought this off of uh Amazon.
• 1:25:07
  SPEAKER_01: Uh, the radio guys, they they have um uh uh podcast.
• 1:25:11
  SPEAKER_01: I spent$80 on that book.
• 1:25:13
  SPEAKER_01: It's very hard to find, but the power of equity in real estate is mind-blowing to me.
• 1:25:17
  SPEAKER_01: It's changed my my mindset a lot in recent years.
• 1:25:22
  SPEAKER_00: And that's that's one of the biggest things is changing your mindset from the scarcity mindset to the abundance mindset.
• 1:25:28
  SPEAKER_00: If you actually describe your approach to real in real estate investing in one word, what would that word be?
• 1:25:33
  SPEAKER_01: Massive and perfect action.
• 1:25:36
  SPEAKER_00: I think that's three words, but we'll take it.
• 1:25:38
  SPEAKER_00: We'll take it.
• 1:25:39
  SPEAKER_00: What advice do you have for us uh aspiring real estate investors who may be hesitant to take the first step?
• 1:25:47
  SPEAKER_00: No rest, no reward.
• 1:25:51
  SPEAKER_00: So you have you you have to you have to just dive in.
• 1:25:55
  SPEAKER_01: Yeah, I mean, it is not you have to make it happen.
• 1:25:59
  SPEAKER_00: Yeah.
• 1:26:01
  SPEAKER_00: Now, last can you give one piece of the one piece of action on my advice?
• 1:26:07
  SPEAKER_00: What would you suggest a new or any wholesaler to take from this episode to go on?
• 1:26:15
  SPEAKER_01: Three things if you don't mind.
• 1:26:17
  SPEAKER_01: Always be marketing, always be learning, always be taking massive and perfect action.
• 1:26:23
  SPEAKER_00: You know what's crazy is I actually I I set goals for myself in six different categories.
• 1:26:28
  SPEAKER_00: My business goals literally, those were not in the third one, but always be marketing and always be learning were two of my things that I put on there.
• 1:26:36
  SPEAKER_00: I think with always be learning, though, you have to have the balance between learning and applying.
• 1:26:47
  SPEAKER_01: Always take massive and perfect action, dude.
• 1:26:49
  SPEAKER_01: Gotta feel forward, you know.
• 1:26:50
  SPEAKER_01: Just go, just do it, make mistakes.
• 1:26:53
  SPEAKER_01: Who cares?
• 1:26:54
  SPEAKER_01: There is no unicorn in real estate, there is no perfect deal, there's no perfect opportunity, there's no perfect market, there's no perfect timing.
• 1:27:01
  SPEAKER_01: You have to just go do it.
• 1:27:06
  SPEAKER_00: Couldn't have said it better, Jeremy.
• 1:27:09
  SPEAKER_00: I appreciate you being on the podcast.
• 1:27:10
  SPEAKER_00: It was a great conversation, and I I hope that the the audience took a lot from it.
• 1:27:15
  SPEAKER_00: And I it I know I took a lot from it.
• 1:27:18
  SPEAKER_00: Uh, both your your your journey from I I hate to say it like this, very, very cliche, rags to riches is inspiring.
• 1:27:27
  SPEAKER_00: And thank you, man.
• 1:27:29
  SPEAKER_00: I I'm I'm looking forward to developing a off off uh camera relationship with you as well because me too.
• 1:27:36
  SPEAKER_00: It's it's it's a great, great, great conversation and great business that you've built, businesses that you've built.
• 1:27:43
  SPEAKER_00: Thank you.
• 1:27:44
  SPEAKER_00: Um, and overall, I just thank you for being here and and sharing your insights and experiences with us today.
• 1:27:50
  SPEAKER_01: Yeah, you know, one thing I was just saying to all the listeners, listening, guys, if you want to learn more about who I am, what we do, just go to Facebook, join the REI Freedom uh Facebook group.
• 1:28:00
  SPEAKER_01: Me and Dan are in there all the time, giving away tons of coaching for free, helping people level up.
• 1:28:05
  SPEAKER_01: You don't necessarily have to join a coaching program to learn from us.
• 1:28:08
  SPEAKER_01: Get into our REI Freedom Coaching Pro uh uh REI Freedom Facebook group, and we will provide you a ton of value.
• 1:28:13
  SPEAKER_01: We're still looking at just help people regardless.
• 1:28:16
  SPEAKER_00: Absolutely.
• 1:28:16
  SPEAKER_00: And man, any I again, anyone, anyone who is listening, definitely, definitely, definitely highly vouch for this guy.
• 1:28:23
  SPEAKER_00: Go recogn, go check out his Facebook page, uh Facebook group.
• 1:28:26
  SPEAKER_00: As he said, dude, it's free, free value.
• 1:28:29
  SPEAKER_00: And and and here's the thing: go execute.
• 1:28:33
  SPEAKER_00: As we as we just said, go execute.
• 1:28:36
  SPEAKER_00: You can have all the knowledge in the world if you don't apply it, it's worth nothing, it's worth zero dollars, zero cents.
• 1:28:42
  SPEAKER_00: So if you enjoyed the episode, feel free to drop a comment, say thank you, Jeremy, for being here, and subscribe, share your thoughts on the episode, and stay tuned for uh for upcoming episodes and exciting topics because actually our next episode will explore a military man who uh military guy, uh uh pilot who now is is helping his community by diving into politics uh here in Indiana, going for Congress.
• 1:29:13
  SPEAKER_00: So definitely looking forward to that conversation and looking forward to sharing with you guys.
• 1:29:18
  SPEAKER_00: Jeremy, again, thank you so much for being here.
• 1:29:20
  SPEAKER_00: Thanks, man.
• 1:29:21
  SPEAKER_00: Appreciate it so much for listening.