Latest / Results Driven / Episode 179: Stop Chasing Deals and Start Building the Team That Finds Them

Transcript

Episode 179: Stop Chasing Deals and Start Building the Team That Finds Them · Results Driven

• 0:00
  SPEAKER_00: I think I had an epiphany at an event, like, I don't know, eight years ago.
• 0:03
  SPEAKER_00: And this guy walks up to me and he's like, Tiffany, you know, why are you constantly chasing deals?
• 0:09
  SPEAKER_00: And I said, What do you mean by that?
• 0:11
  SPEAKER_00: And he's like, You should be chasing heads.
• 0:13
  SPEAKER_00: And I said, Tell me more.
• 0:15
  SPEAKER_00: And he was like, Why don't you focus all of your energy on recruiting the next closer and training that person so that they go get eight deals a month instead of you out in the field chasing and hustling because each head is worth eight deals a month?
• 0:34
  SPEAKER_00: Are you a driven real estate investor tired of inconsistent deal flow and ready to scale your business?
• 0:40
  SPEAKER_00: I'm Tiffany Hyde and I'm Josh Hyde.
• 0:42
  SPEAKER_00: And this is the Results Driven Podcast where we share proven strategies to build systems, master sales, grow your team, and create a self-sustaining business with predictable income.
• 0:54
  SPEAKER_00: Whether you're a one-person operation or building a team, our mission is to give you the tools, support, and mindset shift you need to succeed.
• 1:02
  SPEAKER_00: Let's dive in.
• 1:07
  SPEAKER_04: Welcome back to the Real Estate Excellence podcast where we connect with the elite professionals who are setting the standards in the real estate world.
• 1:15
  SPEAKER_04: If you're an investor, an agent striving to scale, streamline, and succeed without burnout, this episode is tailor-made for you.
• 1:22
  SPEAKER_04: Today's guest brings a powerhouse of experience, having gone from a chaotic operation despite early high-volume success, to building a multimillion dollar real estate business that runs virtually and virtually without them.
• 1:36
  SPEAKER_04: After total business reset, they implemented systems strategy and culture that now closes 20 plus deals a month consistently.
• 1:44
  SPEAKER_04: What makes this episode invaluable in transparency around that journey from hitting a wall, rebuilding from the inside out, and turning that transformation into a proven model, helping investors nationwide to do the same.
• 1:58
  SPEAKER_04: Get ready to learn what it takes to shift the hustle, high-level leadership.
• 2:02
  SPEAKER_04: Her company is results-driven REI, where her and her husband Josh help scale wholesalers and flippers.
• 2:08
  SPEAKER_04: Let's welcome Tiffany High to the show.
• 2:11
  SPEAKER_00: Thanks for having me on.
• 2:12
  SPEAKER_00: I'm excited.
• 2:13
  SPEAKER_04: I appreciate you coming on.
• 2:14
  SPEAKER_04: You know, appreciate the listeners out there.
• 2:17
  SPEAKER_04: This is another angle.
• 2:19
  SPEAKER_04: This is, you know, when I talk about getting up to 30,000 feet and seeing all the different things that happen or can happen in real estate.
• 2:26
  SPEAKER_04: You and you what you guys are doing, the wholesaling and flipping is one of those things that you know people think about, but they never really fully understand.
• 2:35
  SPEAKER_04: And I'm hopefully after the end of this podcast, they understand what wholesalers and flippers are doing, their trials and tribulations, and obviously what you and Josh have.
• 2:44
  SPEAKER_04: I don't want to say perfected because I'm sure you're trying to always perfect it, but you've done very well at creating trainings of systems that obviously you guys operate on, but sharing those with others.
• 2:54
  SPEAKER_00: Yep.
• 2:55
  SPEAKER_00: So where do you want me to begin?
• 2:58
  SPEAKER_04: So give us a little bit of your background.
• 3:00
  SPEAKER_04: I obviously when I'm LinkedIn, I always troll my guest and find out what's going on behind them.
• 3:05
  SPEAKER_04: You graduate from University of Toledo.
• 3:08
  SPEAKER_04: The University of Toledo, Toledo with students stuck in the backway.
• 3:11
  SPEAKER_04: You graduate from the University of Toledo, and it looks like you go a little bit into the corporate world like most people do.
• 3:16
  SPEAKER_04: Just start there.
• 3:17
  SPEAKER_04: And then what led you obviously into start to get the taste for real estate?
• 3:21
  SPEAKER_00: Yeah, so I graduated from the University of Toledo, got my MBA at Tiffany University.
• 3:26
  SPEAKER_00: I moved all over the country for my corporate career.
• 3:29
  SPEAKER_00: I actually loved my career, and I wasn't like leaving it to chase some, I don't know, you see all these newbie ads that are like, you know, financial this and freedom this.
• 3:40
  SPEAKER_00: And that wasn't really why I left.
• 3:42
  SPEAKER_00: I'm the oldest of a big family, and I was about 29, 30 years old, and my little brother, who was still in high school, got diagnosed with cancer.
• 3:50
  SPEAKER_00: And I was living, you know, out of state at the time.
• 3:54
  SPEAKER_00: Long story short, I knew that I needed to be there for my family because I have other siblings that were younger than him.
• 4:00
  SPEAKER_00: And so when we got the news that he was gonna be in the hospital for probably over a year straight, I didn't even hesitate.
• 4:08
  SPEAKER_00: I went in, told my boss, like, I gotta go.
• 4:11
  SPEAKER_00: I'm actually not going back to my desk.
• 4:13
  SPEAKER_00: And if I need you back, I hope that you guys take me back someday, right?
• 4:17
  SPEAKER_00: Because I wasn't really leaving on bad terms.
• 4:19
  SPEAKER_00: But I ended up leaving my job that day.
• 4:22
  SPEAKER_00: I'm on my drive home, literally the same day, and Owens Corning Global, who is headquartered in my parents' hometown, called me and said, Hey, we just heard you quit your job an hour ago.
• 4:32
  SPEAKER_00: Would you like to come in and interview it?
• 4:34
  SPEAKER_00: And I'm like, I don't know how you found that out, but and so long story short, I ended up taking this job at Owens Corning.
• 4:40
  SPEAKER_00: In the meantime, my brother is living at Nationwide Children's Hospital, and I didn't really realize the job that I took I was going to be on a flight Monday through Friday again.
• 4:50
  SPEAKER_00: And so I'm about five months into this journey, and it's good Friday of Easter, and I'm sitting in the hospital with my family.
• 4:58
  SPEAKER_00: And I remember looking across the room and my father sitting in the corner, and my dad owned a few companies at the time.
• 5:05
  SPEAKER_00: And I was just like, Dad, how have you not physically left this hospital?
• 5:10
  SPEAKER_00: Like my parents literally didn't leave the hospital for a year.
• 5:14
  SPEAKER_00: And that was when he looked at me and said, Well, my teams have stepped it up and allowed me to be here.
• 5:21
  SPEAKER_00: And I don't know, something inside of me was like, All right, Tiffany, you know, you want to be a mom someday.
• 5:26
  SPEAKER_00: You know, something was calling me to leave my job that day again.
• 5:30
  SPEAKER_00: And so I put in a month notice.
• 5:32
  SPEAKER_00: I literally had no plans.
• 5:33
  SPEAKER_00: I had no idea what flipping a house was.
• 5:35
  SPEAKER_00: I tried nannying that lasted 24 hours.
• 5:37
  SPEAKER_00: I tried bartending that lasted two hours.
• 5:40
  SPEAKER_00: And basically I was a lost soul for a little bit.
• 5:43
  SPEAKER_00: And my cousin was flipping houses.
• 5:46
  SPEAKER_00: And so I was bored one day and I said, Hey, can I come out and see this house you're flipping?
• 5:51
  SPEAKER_00: He walks me through, shows me the before and afters, and said he was gonna make$80,000 on it.
• 5:56
  SPEAKER_00: And that was, you know, just kind of hit me.
• 5:58
  SPEAKER_00: I said, Wow, maybe I can do this while I'm dealing with the family situation.
• 6:03
  SPEAKER_00: And I asked him where he learned.
• 6:04
  SPEAKER_00: And so I didn't really hesitate.
• 6:06
  SPEAKER_00: And I maxed out my credit card that day, jumped into a program.
• 6:10
  SPEAKER_00: And within the first 12 months of making a million mistakes, but I got my first 40 flips done as a one-man show.
• 6:17
  SPEAKER_00: And I did that, you know, without a CRM, without fancy lists, without all the stuff that we do today to be at the scale we're at.
• 6:25
  SPEAKER_00: And I think a lot of times people overcomplicate it.
• 6:27
  SPEAKER_00: And ultimately, I got about 40 flips done our first year.
• 6:31
  SPEAKER_04: So you and Josh were already married.
• 6:34
  SPEAKER_00: No, no, no.
• 6:34
  SPEAKER_00: We were dating.
• 6:35
  SPEAKER_04: You were dating at the time.
• 6:36
  SPEAKER_04: Okay.
• 6:36
  SPEAKER_04: He got the one that started Heels Holmes.
• 6:39
  SPEAKER_04: Yeah.
• 6:40
  SPEAKER_00: Yep, yep.
• 6:41
  SPEAKER_00: So Josh was in commercial construction, and he would come home from work and help me on off hours.
• 6:48
  SPEAKER_00: I get the question a lot around like how do we manage being married and all that.
• 6:52
  SPEAKER_00: But yeah, I was engaged and I called off my future marriage at one point because it was just a lot of work.
• 6:58
  SPEAKER_00: Like I think, you know, a lot of people want success, but they don't understand what comes with it.
• 7:03
  SPEAKER_00: And it was a lot of hours.
• 7:04
  SPEAKER_00: I mean, it was like 18-hour days.
• 7:07
  SPEAKER_00: And so I called off our marriage for like a total of 24 hours and realized that the reason why it was hard was because he was still working a full-time job and doing this.
• 7:19
  SPEAKER_00: And so about a year into it, he finally left his job and came in full-time.
• 7:24
  SPEAKER_00: And we went from 40 flips our first year.
• 7:27
  SPEAKER_00: We learned how to wholesale our second year.
• 7:29
  SPEAKER_00: We went from 40 to 165 our second year.
• 7:32
  SPEAKER_00: And then we did a lot of things wrong our second year, just a lot of learning mistakes of building out the operation.
• 7:38
  SPEAKER_00: And it ultimately came basically crashing down my second year, rebuilt the thing in 90 days, and did 300 plus ever since every year.
• 7:47
  SPEAKER_04: So you're blowing like the high levels slow down a little bit.
• 7:52
  SPEAKER_04: Because those numbers, people were like, Oh my god, wow, if I could do 40 flips in a lifetime.
• 7:57
  SPEAKER_04: I mean, tell us a little bit about well, it sounds like you obviously you had an entrepreneurial spirit from your family.
• 8:04
  SPEAKER_04: Your father was an entrepreneur.
• 8:06
  SPEAKER_00: Yeah, I mean, I don't know if he is the reason why or not, but yeah.
• 8:10
  SPEAKER_00: I mean, in corporate space, I moved up the corporate ladder every year, and you know, I'm just super driven, I guess.
• 8:15
  SPEAKER_00: I don't know.
• 8:15
  SPEAKER_04: Yeah.
• 8:16
  SPEAKER_04: Well, I mean, and then obviously your dad's success in his business to be able, like you said, to stay in the hospital for a year, you know, with a family member that says that just says a lot about him and and his success and the leadership.
• 8:28
  SPEAKER_04: Because I know, you know, just you know, again, combing through your websites and so forth, you you talk about a lot of these themes, which you know, just that story about your dad just resonates.
• 8:37
  SPEAKER_04: How because I think you know, there's a lot of people, and I'm sure you run into it a lot, a lot of people want to get into flipping and so forth, but they're stuck in that nine to five corporate rut.
• 8:46
  SPEAKER_04: They don't know how to get out of it, and others don't want to make the leap because they just aren't comfortable, obviously, with the risk.
• 8:52
  SPEAKER_04: And that's where that entrepreneurial spirit in my mind, you know, my parents were entrepreneurs as well growing up.
• 8:58
  SPEAKER_04: But let's go back to you getting started.
• 9:01
  SPEAKER_04: I mean, literally, I don't know if we want to say day one, but you decide you want to get into this.
• 9:06
  SPEAKER_04: How do you get off the ground?
• 9:07
  SPEAKER_04: How do you get into that first flip to get going and then literally do 40 in the first year?
• 9:12
  SPEAKER_04: I mean, was the market just ripe for the picking in your area?
• 9:16
  SPEAKER_04: And then what are some of the things that that you did to get really off the ground initially?
• 9:21
  SPEAKER_00: Yeah, well, let's start with, you know, when you made the comment about like nine to five and the risk and all that.
• 9:26
  SPEAKER_00: One thing I take a lot of pride in is, you know, results driven is a pretty big company.
• 9:30
  SPEAKER_00: We've we've got, I don't know, I have no idea 60, 70, 80 people.
• 9:34
  SPEAKER_00: And ultimately, even my leadership team who work 60 hours a week minimum, they, you know, for example, one of my leaders has already done a hundred deals this year on top of working for me.
• 9:46
  SPEAKER_00: And so I think that it's a self-limiting belief that you can't flip houses while working.
• 9:53
  SPEAKER_00: And so I just want to point that out that I think we have to shift our mindset in society that it's very doable to do flipping houses while working.
• 10:02
  SPEAKER_00: In terms of what I did my first year, I don't know if it would work as much today, but back then I took the foreclosure list.
• 10:09
  SPEAKER_00: That's literally all I took.
• 10:10
  SPEAKER_00: I went to the courthouse, I got it straight from the courthouse, and then I would hand manually skip trace them.
• 10:17
  SPEAKER_00: I would use my cell phone, I would call them and door knock them and just solve their problem.
• 10:22
  SPEAKER_00: It was really that simple.
• 10:24
  SPEAKER_00: And then ultimately the next step is you can either wholesale the deals, which I wish I would have done my first year.
• 10:29
  SPEAKER_00: I wish I wouldn't have jumped into flipping first.
• 10:31
  SPEAKER_00: Right.
• 10:32
  SPEAKER_00: I wasn't educated on it.
• 10:33
  SPEAKER_00: So I would do that first if I were new, and then I would flip.
• 10:37
  SPEAKER_00: But ultimately, I had to learn how to raise private money.
• 10:41
  SPEAKER_00: And so, what did I do?
• 10:42
  SPEAKER_00: Both circumstances, I went all in on getting educated.
• 10:46
  SPEAKER_00: So I feel like that's one thing that I have really stood by is when you don't know something, you find the person who can get you the knowledge as fast as possible.
• 10:54
  SPEAKER_00: Because making the mistake doing it is way more expensive than having someone that's going to teach you to do it that's already been there, done that.
• 11:00
  SPEAKER_00: And a lot of times people don't think that way, and then they just end up learning the hard way by making the expensive mistake and then saying, Oh, I wish I would have gotten help on that.
• 11:08
  SPEAKER_04: Well, Tiffany, where did you go?
• 11:09
  SPEAKER_04: You you mentioned the education, you maxed out a credit card to get this education.
• 11:15
  SPEAKER_04: Tell us a little bit, you know, what was available at this time when you're getting your education, and obviously how that is, you know, if we want to kind of jump forward a little just a little bit, how you realize what wasn't available then to now, obviously, you provide now.
• 11:29
  SPEAKER_04: I would imagine you provide a better education than what you actually got at the beginning.
• 11:34
  SPEAKER_00: Yeah.
• 11:34
  SPEAKER_00: So I joined Fortune Builders back in the day, which is no longer operating.
• 11:38
  SPEAKER_00: They were phenomenal at teaching you how to flip a house and how to raise private money.
• 11:44
  SPEAKER_00: Now, what happens to most entrepreneurs or all of them is they don't tend to build teams and they get stuck being the solopreneur and they're doing everything.
• 11:56
  SPEAKER_00: They're the admin, the inspector, the project manager, the salesperson, the marketer, all these things.
• 12:01
  SPEAKER_00: And so no one really ever scales.
• 12:04
  SPEAKER_00: And a lot of times people get into real estate because they think they want money.
• 12:09
  SPEAKER_00: And the reality is they want both financial freedom and time freedom.
• 12:13
  SPEAKER_00: And when you have them both, I call it option freedom.
• 12:15
  SPEAKER_00: Option to do what you want, when you want, with who you want.
• 12:18
  SPEAKER_00: And that's what they really want.
• 12:20
  SPEAKER_00: People really want to be able to live in peace on their own time, pick up their kid from school, not miss their games.
• 12:26
  SPEAKER_00: And in order to do that, we have to use leverage.
• 12:30
  SPEAKER_00: And I think that's the part that people a lot of times it holds them back because of whatever self-loaning beliefs there are.
• 12:36
  SPEAKER_00: They're scared to leverage other people's money because what if they lose it?
• 12:39
  SPEAKER_00: They're scared to hire people because what if they don't perform?
• 12:43
  SPEAKER_00: They're scared to invest in equipment or marketing because what if they fail?
• 12:49
  SPEAKER_00: Right.
• 12:50
  SPEAKER_00: And so when they talk to themselves this way, it typically never progresses and moves forward.
• 12:55
  SPEAKER_04: 100%.
• 12:56
  SPEAKER_04: I would imagine, well, I mean, that because that's eventually we would get to this topic, and you you just brought it up.
• 13:02
  SPEAKER_04: Is you were talking about someone can work and still flip a house.
• 13:05
  SPEAKER_04: Well, I'll imagine to be able to do that, at least in scale, you're hiring contractors and so forth now.
• 13:12
  SPEAKER_04: We're here in Florida.
• 13:13
  SPEAKER_04: Contractors don't have a great reputation, but I can't believe it's much different, much other places.
• 13:19
  SPEAKER_04: And obviously, I would imagine in your training is how to find these right people that you're talking about.
• 13:26
  SPEAKER_00: Yep.
• 13:26
  SPEAKER_00: Yeah, I mean, we always recommend finding a GC first when you're getting started because being a project manager, if you've never been in construction and managing all the subs, although we train it, we recommend hiring a GC first.
• 13:40
  SPEAKER_00: I mean, I have been flipping hundreds of houses a year for a decade now, and I haven't stepped foot in a property that I've owned in maybe five plus years, six years.
• 13:51
  SPEAKER_00: It's all around systems, right?
• 13:52
  SPEAKER_00: It's all infrastructure.
• 13:54
  SPEAKER_00: Flipping a house is not a unique thing, it's a copy and paste system.
• 13:58
  SPEAKER_00: How I do it is how someone else can do it.
• 14:00
  SPEAKER_00: It's really nothing that's like we need a patent on.
• 14:03
  SPEAKER_00: And ultimately, it's really about just following a system and not trying to figure it out on your own.
• 14:10
  SPEAKER_00: When you try to flip a house and figure it out on your own, that's when it becomes a disaster.
• 14:14
  SPEAKER_04: I would just as the finding the right people, the right contractor, obviously, who's going to show up and do what they say they're going to do and all that stuff.
• 14:22
  SPEAKER_04: I would imagine the other hang-up is well, what if I can go out and look at this property, but what if I don't realize?
• 14:30
  SPEAKER_04: Well, I'll give you an example.
• 14:32
  SPEAKER_04: My wife and I, right after we got married, we flipped the house.
• 14:35
  SPEAKER_04: We were actually living in Little Rock, Arkansas at the time.
• 14:38
  SPEAKER_04: And it was a HUD house that had been out there, no one was buying it, so there was up for investors.
• 14:42
  SPEAKER_04: And so we went in and it mentioned something about a leak.
• 14:47
  SPEAKER_04: So when we removed the nasty carpet on this concrete slab, there was these patch marks on the slab.
• 14:54
  SPEAKER_04: Well, it turned out, long story short, there was a leak in the water line that was going from the side of the house where the water was coming to the bathroom at the under the other end of the house.
• 15:03
  SPEAKER_04: We got lucky and we were able to solve that problem because we we rerouted that one line.
• 15:08
  SPEAKER_04: I think it was the might have been the hot water line or might have been the one cold water line.
• 15:12
  SPEAKER_04: We figured out what it was just by pure chance and really saved a money pit, which I imagine you run into.
• 15:19
  SPEAKER_04: But I imagine part of the hang up is people's anxiety of, oh my God, what if I buy a house and it's I open the walls and I lose money on the deal?
• 15:27
  SPEAKER_04: Is that a big holdback for a lot of people, you think?
• 15:30
  SPEAKER_00: The only reason that would be a holdback is if someone's not educated or using the experts in the field.
• 15:36
  SPEAKER_00: So one, we use licensed inspectors for every property, even if we wholesale them.
• 15:41
  SPEAKER_00: Like I don't walk them and try to come up with what the repairs are going to be because I'm not the expert in the field.
• 15:46
  SPEAKER_00: So when we put a house under contract, we send out a licensed inspector along with our GC at the exact same time.
• 15:54
  SPEAKER_00: The licensed inspector is doing the inspection while communicating with the GC.
• 15:58
  SPEAKER_00: And the GC is creating a scope of work live on site with the licensed inspector.
• 16:04
  SPEAKER_00: And so with that process, I haven't had to step foot in, I don't even look at the properties anymore when I lock them up.
• 16:11
  SPEAKER_00: We lock everything up virtually over the phone through an acquisitions process.
• 16:15
  SPEAKER_00: And what we do in onboarding our closers is we train them how to flip a house so that they understand the right questions to ask on the phone.
• 16:22
  SPEAKER_00: And they're typically within like 5% of the scope of work just through a phone call when you ask the right questions.
• 16:29
  SPEAKER_00: And we send the licensed inspector, the scope of work, we come back, we then have a phone call, we go through all the items, make sure, et cetera, et cetera, is covered.
• 16:38
  SPEAKER_00: But when you have a reputable contractor and GC and they're next to a licensed inspector, and I'm getting a licensed inspection report, I mean most things are pointed out at that point.
• 16:49
  SPEAKER_00: And also we don't touch houses at all that we open up walls.
• 16:53
  SPEAKER_00: So we don't do gut properties, we only do cosmetic rehabs, we only stick to median home price and lower in every zip code.
• 17:01
  SPEAKER_00: So there's a lot more exit strategies when you do that.
• 17:04
  SPEAKER_04: A lot more buyers, a lot more potential buyers, anyway, to yeah.
• 17:08
  SPEAKER_00: And you know, when I first got started in flipping, it was like the word flipping a house to most people because they see HGTV, thinks it's like you beautifully design these houses.
• 17:20
  SPEAKER_00: That was unfortunately what I thought the first year.
• 17:22
  SPEAKER_00: So I took down these big gut rehabs, and you would find me in like Home Depot every day.
• 17:28
  SPEAKER_00: I don't remember the last time I went there and I never want to go back.
• 17:31
  SPEAKER_00: But ultimately, now we've learned how to systemize every aspect from the time we put it in contract to the time it closes so that we're not involved.
• 17:39
  SPEAKER_00: And when you systemize the business, like that's when real estate actually gives you the freedom you got into real estate for.
• 17:46
  SPEAKER_00: And a lot of people think that it just being in real estate is what brings you freedom.
• 17:50
  SPEAKER_00: It doesn't unless you systemize and leverage people.
• 17:53
  SPEAKER_04: You're so high level.
• 17:54
  SPEAKER_04: It's just like I gotta reach up to you here.
• 17:57
  SPEAKER_04: Uh because you know, I'm thinking someone might be listening to us.
• 18:00
  SPEAKER_04: I know obviously there are some real estate agents that I've had on the show that I see every day, and and they're doing their regular flips.
• 18:07
  SPEAKER_04: They're not obviously doing because they're doing they're selling most of the obviously that's what they do primarily, but they've started to build these systems because they've learned through education of what you know.
• 18:18
  SPEAKER_04: When you were initially taking that education, what were the aha moments of what you thought was going to happen?
• 18:25
  SPEAKER_04: But when you started listening to these people that were giving you some advice, obviously, their experience, what were some of the aha moments?
• 18:33
  SPEAKER_04: For example, you just mentioned you don't go to Home Depot anymore.
• 18:37
  SPEAKER_04: Where I think the typical flipper or someone thinking about flipping, thinks they want to go in there and they want to pick out the fixtures and they want to make sure the house is decorated correctly and all this, and they're spending all that time doing that when there are people that actually do that and bring the home up to acceptable cosmetic and physical standards.
• 18:55
  SPEAKER_00: Yeah, I guess it's really about what someone's end goal is.
• 18:58
  SPEAKER_00: Like if your end goal is to be in the field 12 hours a day and grinding it out and constantly feeling like you're in survival mode and can't go on vacation without taking work calls, then stay a one-man show, right?
• 19:10
  SPEAKER_00: But if you want to build, there's a difference between doing real estate deals and building a real estate business.
• 19:17
  SPEAKER_00: And that's why results driven was built because there was all these programs out there that could teach you how to do a deal, right?
• 19:24
  SPEAKER_00: They could teach you how to flip a house, but to build a real estate flipping business is a totally different skill set.
• 19:32
  SPEAKER_00: And in order to do that, we have to systemize the operation from A to Z.
• 19:37
  SPEAKER_00: We have to delegate all these moving pieces to a team.
• 19:41
  SPEAKER_00: And that doesn't matter if you're an investor, an agent, a tech software guy, it doesn't matter.
• 19:45
  SPEAKER_00: This is like just business 101, right?
• 19:47
  SPEAKER_02: Right.
• 19:48
  SPEAKER_00: And so ultimately, the beauty about real estate, like I said, is it's copy and paste.
• 19:53
  SPEAKER_00: There's like nothing unique about real estate.
• 19:55
  SPEAKER_00: So we take your average one-man show or realtor who's out there grinding it 15-hour days to make a little bit of money, and we teach them how to put in the infrastructure in people surrounding them.
• 20:07
  SPEAKER_00: And so, my biggest aha moment when I first got started my first year, I was like, this is horrible.
• 20:13
  SPEAKER_00: It doesn't matter how much money I made my first year.
• 20:15
  SPEAKER_00: We did like a million dollars in revenue and I was grinding it out.
• 20:18
  SPEAKER_00: And it was like the most miserable year of my life.
• 20:22
  SPEAKER_00: And I just remember thinking, no amount of money is worth this kind of grind unless I learn how to actually build a business out of it.
• 20:31
  SPEAKER_00: I would rather go back to my career or build a business out of it.
• 20:35
  SPEAKER_00: And so I realized in that first program that it was great to get me started.
• 20:40
  SPEAKER_00: It was great to get a house in contract, get my feet wet.
• 20:43
  SPEAKER_00: But to build a business took a totally different type of education.
• 20:46
  SPEAKER_00: And so ultimately, I ended up hiring a one-on-one mentor my second year that wasn't even from real estate because I couldn't find anyone in real estate that knew how to build a legitimate business out of it.
• 20:57
  SPEAKER_00: And he had built multiple phone sales floors that he had exited in companies.
• 21:02
  SPEAKER_00: He came in and for 90 days, we literally took my company to the ground.
• 21:06
  SPEAKER_00: We rebuilt every aspect, we rehired the entire team, relaunched every marketing channel, rebuilt our CRM in less than 90 days, and did 300 deals after that that year.
• 21:18
  SPEAKER_00: And it was really just a matter of putting in the right people in the right seats with the right infrastructure.
• 21:24
  SPEAKER_00: And now I actually get to go live at the cottage for two months and not worry about the company.
• 21:29
  SPEAKER_00: And so I think it's just again, it all comes down to these two things limiting beliefs in our head.
• 21:36
  SPEAKER_00: And there's quite a few of them that I could probably talk about.
• 21:39
  SPEAKER_00: But then it also comes down to getting in the right room with the right people that aren't going to teach you to constantly be in this like hamster reel of getting deals, if unless that's what you want.
• 21:50
  SPEAKER_00: Now, some people are literally like, hey, I'm retired.
• 21:53
  SPEAKER_00: I just want to do like a handful of houses a year with me and my wife.
• 21:57
  SPEAKER_00: And I don't really want, you know, the business.
• 22:00
  SPEAKER_00: Like that, you guys have.
• 22:01
  SPEAKER_00: And I said, cool.
• 22:02
  SPEAKER_00: Our job is to get you to where you want to go, right?
• 22:04
  SPEAKER_00: It's success as you define it.
• 22:06
  SPEAKER_00: So we helped them launch that so that he could at least not be out in the field managing project.
• 22:11
  SPEAKER_00: I taught him how to systemize the inspections, the contractors, his marketing.
• 22:17
  SPEAKER_00: And so that way all he was focused on was two things locking up the deal and disposing the deal if he needed to wholesale it.
• 22:26
  SPEAKER_00: Other than that, he has everything delegated and outsourced, even if they're not employees.
• 22:31
  SPEAKER_04: You mentioned marketing and so forth.
• 22:32
  SPEAKER_04: And obviously, I think anyone listening right now is going, man, you know, even just your first year, even doing you know 40 deals a month, even doing a dozen deals a month, to obviously you've got to find these properties.
• 22:44
  SPEAKER_04: You know, I know you have some stuff on your website, and if anyone's listening, resultsdrivenrei.com is where you need to go and can learn more about Tiffany and Josh and what they're doing.
• 22:55
  SPEAKER_04: But Tiffany, he obviously you took the business to the ground with this coach or mentor and rebuilt.
• 23:01
  SPEAKER_04: You had to find 300 deals.
• 23:04
  SPEAKER_04: Those out there who want to scale, or even like I said, even do a dozen or two dozen of these flips a year.
• 23:11
  SPEAKER_04: You got to be on the front end finding the next deal.
• 23:14
  SPEAKER_04: You're not really in there doing a lot of sweat equity, as I think a lot of people think our flippers are doing.
• 23:19
  SPEAKER_04: They're, hey, well, I'm gonna flip a house, I'll go in there and I'll you know do this or do that or type of thing.
• 23:25
  SPEAKER_04: Obviously, you don't even, like you said, you don't even go in, you haven't been in any of the houses you bought in a number of years now.
• 23:32
  SPEAKER_04: So that mindset of abundance, I guess, is out there.
• 23:36
  SPEAKER_04: But tell us a little bit about how you guys are really finding the deals.
• 23:40
  SPEAKER_04: And I imagine your region, your areas that you're covering, are are you going national with this, or how far are you reaching out and finding you know 300 deals a year?
• 23:51
  SPEAKER_00: Yeah, I'm primarily just in Columbus, Ohio, and we do Toledo, Ohio now as well, because we have a rental portfolio there.
• 23:58
  SPEAKER_00: But we didn't launch Toledo until about a year ago.
• 24:01
  SPEAKER_00: We do like, I don't know, five to eight houses a month in that market, fully virtual.
• 24:07
  SPEAKER_00: In Columbus, we do what we call a diversified strategy.
• 24:11
  SPEAKER_00: So you've got inbound marketing channels.
• 24:13
  SPEAKER_00: I don't do all of them, but they include like direct mail, TV, radio, PPC, paper lead, billboard, signs, all that.
• 24:21
  SPEAKER_00: And then you've got outbound, which is like your cold calling, and then you have free marketing channels, which are not predictable, but you can buy them off agents, wholesalers, you know, fire damage, nursing homes, attorneys.
• 24:34
  SPEAKER_00: And those are great because they're free, but you can't build a predictable business off them.
• 24:40
  SPEAKER_00: So we probably get like 30 a year off free channels.
• 24:43
  SPEAKER_00: It should be more.
• 24:44
  SPEAKER_00: That's something we're working on.
• 24:45
  SPEAKER_00: But ultimately, what it does is it brings our cost per contract down as an entire company by systemizing our free marketing channels.
• 24:52
  SPEAKER_00: Now, but when most people get started in the game, you know, we have a lot of people that come in as agents or newer, and they're more in a stage where we call it a first-to-market strategy and we teach them exactly how I'd started, only with a little bit better technology.
• 25:09
  SPEAKER_00: And so we take, you know, courthouse data, and the most important piece that was missing in this industry that we filled a gap with at results driven is I don't know what it is about a lot of programs out there.
• 25:22
  SPEAKER_00: It's like we have this mindset that, oh, I just want to get a deal a quarter, I want to get whatever.
• 25:27
  SPEAKER_00: But if you think about it, when we bring on a closer, we onboard them in 14 days.
• 25:32
  SPEAKER_00: We've got videos, quizzes, assessments, whatever.
• 25:34
  SPEAKER_00: They're on the phones, and in the first 30 days on the phone, they average five to eight contracts.
• 25:40
  SPEAKER_00: After their first 30 days, they're averaging eight to 12 contracts a month.
• 25:44
  SPEAKER_00: So if they can do that as an employee for us, then an entrepreneur should be able to do that themselves.
• 25:50
  SPEAKER_00: And what I realized was coming from a corporate background, is that people in our industry don't have corporate infrastructure at all.
• 26:00
  SPEAKER_00: So there's really no onboarding, there's no daily training, there's no tracking and scorecards.
• 26:06
  SPEAKER_00: And these are the things that keep you having consistent, repeatable deal flow.
• 26:11
  SPEAKER_00: And we already have that stuff built, but we realize coming up in the industry that the industry as a whole, it was like a lot of fly by night operators, like a lot of one-man shows out there just steel hustling.
• 26:23
  SPEAKER_03: Yeah.
• 26:24
  SPEAKER_00: And, you know, coming from a background of building these big corporate teams, I was like, what are we doing here?
• 26:29
  SPEAKER_00: We should be leveraging people and onboarding and training and pouring into a team so that we can go live the life that we chose to be an entrepreneur for, right?
• 26:40
  SPEAKER_00: And I think a lot of times I ask a lot of people throughout my events, it's they're typically a combination of self-limiting beliefs and that you just don't know how, right?
• 26:49
  SPEAKER_00: When you just don't know what you don't know.
• 26:51
  SPEAKER_00: And that's really where education of any kind comes in of once you understand how to do it and you're handed the blueprint or the business in a box, like from there, it's about soft skills of how do I become the leader?
• 27:05
  SPEAKER_00: How do I manage people?
• 27:07
  SPEAKER_00: How do I train people daily, those types of skill sets?
• 27:11
  SPEAKER_04: You cover this throughout your entire training process from start to well, I guess it kind of never when someone probably partners up and has success, they're always with you.
• 27:20
  SPEAKER_04: Um can you share some success stories from around the country?
• 27:25
  SPEAKER_04: I think you're 100% right.
• 27:26
  SPEAKER_04: You guys, and talk a little bit about you guys.
• 27:28
  SPEAKER_04: It looks like based on some pictures and videos, you guys do go out and hold some conferences and so forth.
• 27:35
  SPEAKER_04: But if you can give us a success story, maybe someone that went to your one of your conferences, where they were at, and maybe where are they at now in the process and then their success.
• 27:44
  SPEAKER_00: Yep.
• 27:44
  SPEAKER_00: This one might be a little bit more relatable.
• 27:46
  SPEAKER_00: Josh is in San Diego, because right, a lot of people are like, oh, my market's saturated, my market this, my market, it's not your market.
• 27:52
  SPEAKER_00: That's never the excuse.
• 27:53
  SPEAKER_00: There's literally deals in every single market.
• 27:56
  SPEAKER_00: And so he was working at a title company and was an agent, and he was learning real estate on the side of his job.
• 28:03
  SPEAKER_00: And he came to us and was like, Hey, I've done a few deals, but I don't really know how to take this to a point where I can leave my job.
• 28:10
  SPEAKER_00: And so while he was working, we built him a closer and got that person trained off to the roads, off to the races.
• 28:20
  SPEAKER_00: And I think in the first two or three months, I think it was, he ended up having a million-dollar month.
• 28:26
  SPEAKER_00: He has a team half the size of mine.
• 28:28
  SPEAKER_00: He only has two closers and a transaction operations person.
• 28:31
  SPEAKER_00: That's it.
• 28:32
  SPEAKER_00: Now in California, your deal sizes are like a hundred thousand if you're doing a flip.
• 28:36
  SPEAKER_00: So it's a little different.
• 28:38
  SPEAKER_04: So just to translate for our listeners, that would be your gross profit.
• 28:43
  SPEAKER_04: Okay.
• 28:44
  SPEAKER_00: Yeah.
• 28:44
  SPEAKER_00: Yeah, I would say each stage when it comes to building out a flipping and wholesaling.
• 28:49
  SPEAKER_00: Now keep in mind, guys, I don't just flip and wholesale.
• 28:51
  SPEAKER_00: If somebody wants to sell their house, I will provide a solution.
• 28:54
  SPEAKER_00: Whether it's listing it, it's flipping it, it's wholesaling it, it's holding it, it's getting creative.
• 29:00
  SPEAKER_00: Our job is that if somebody wants to sell, we make money off that leap.
• 29:04
  SPEAKER_00: And so many times in real estate, people only think there's only one way to do it.
• 29:08
  SPEAKER_00: And so they walk away from opportunity of somebody needs to sell, but they don't know how to capitalize on it.
• 29:14
  SPEAKER_00: And so we need to have all those exit strategies in our tool belt in order to maximize the spread on our marketing spend.
• 29:21
  SPEAKER_00: And anyway, so there's a lot of.
• 29:41
  SPEAKER_00: Yep.
• 29:42
  SPEAKER_00: So we are, I don't know, partners the right word.
• 29:44
  SPEAKER_00: We're not like in an LLC, but we're partnered with a realtor and their team.
• 29:47
  SPEAKER_00: We have a whole process to it.
• 29:49
  SPEAKER_00: But when someone doesn't have a fit for a wholesale flip or hold, we then live transfer this to a realtor team at Round Robins.
• 29:56
  SPEAKER_00: They get all of our leads.
• 29:57
  SPEAKER_00: We get 50% of the commission of the leads we hand them for free.
• 30:00
  SPEAKER_00: And so they're getting loaded with leads as we get off-market leads as well.
• 30:05
  SPEAKER_04: And the leads, because you're obviously you're spending a tremendous amount of money making, you know, you got this team making the phone calls and so forth to secure them.
• 30:13
  SPEAKER_00: Yes.
• 30:14
  SPEAKER_00: I mean, we're spending money to do it through direct mail, TV, PPC, paper lead, all that.
• 30:19
  SPEAKER_00: So when a lead comes in, if they're like motivated to sell, but they maybe they just have a great conditioned house, maybe they're going through a divorce or whatever the situation is, and they don't necessarily have a distress condition property, they have a distressed life situation.
• 30:32
  SPEAKER_02: Yeah.
• 30:33
  SPEAKER_00: So they need to sell, but their property is in great condition.
• 30:36
  SPEAKER_00: We might then pass it off to a realtor to just go list it.
• 30:40
  SPEAKER_04: I think we might have cut the story of Josh in San Diego off.
• 30:44
  SPEAKER_04: So literally, if I heard you correctly, in his first month, he had a million-dollar month, a million dollar.
• 30:50
  SPEAKER_00: I don't remember if it was the first month, three months.
• 30:52
  SPEAKER_00: It was very short time.
• 30:53
  SPEAKER_04: It's that's a very short period of time, actually.
• 30:55
  SPEAKER_00: Yeah, he he probably is doing three to four million dollars in gross profit at minimum this year.
• 31:01
  SPEAKER_00: He came in again as a one-man show working full-time, and he has a very lean team.
• 31:06
  SPEAKER_00: He doesn't really want a big team.
• 31:08
  SPEAKER_00: Most people don't.
• 31:09
  SPEAKER_00: I mean, I've got stories of Jimmy Ogle, Michael Fitzgerald, a lot of these big guys across the country now.
• 31:14
  SPEAKER_00: They came into our program as literally a one-man show.
• 31:17
  SPEAKER_00: They have COOs, sales leaders.
• 31:19
  SPEAKER_00: They're not in the day-to-day as much anymore.
• 31:21
  SPEAKER_00: And they're really focused on building wealth now, where wholesaling and flipping is more of an active income game.
• 31:28
  SPEAKER_00: It's not the end game, right?
• 31:30
  SPEAKER_00: So, like, I'm probably not gonna flip houses my entire life at the scale that I'm at.
• 31:35
  SPEAKER_00: You know, I had a personal goal to get to a certain income level and then transition into being more of just a private lender.
• 31:41
  SPEAKER_00: And so that's what we've evolved into over the course of time.
• 31:45
  SPEAKER_00: But it's really just a matter of what somebody else wants.
• 31:48
  SPEAKER_00: Like, I'm not here to define that you should be me and Josh.
• 31:51
  SPEAKER_00: We have a core value called success as you define it.
• 31:53
  SPEAKER_00: So if you want to do one deal a quarter, one deal a day, whatever it is, we know how to reverse engineer it and tell you exactly what the operation is going to look like in order to hit that end goal.
• 32:03
  SPEAKER_04: Let's do a little infomercial on someone who wants to enter your course as Josh and San Diego did.
• 32:11
  SPEAKER_04: Go through, you know, on a generic level, you know, as someone who wants to continue to move on, you know, obviously, like you said, some people just want to, hey, I want to do one flip or three flips a year or whatever, half a dozen.
• 32:23
  SPEAKER_04: Others obviously you know want to go to the sky, but they need to take they need to be trained.
• 32:27
  SPEAKER_04: It's not going to the you know, to your level takes time and a lot of dedication and focus, obviously, to get there.
• 32:36
  SPEAKER_04: You guys rapidly did it.
• 32:38
  SPEAKER_04: I think it's a very shy, I think, uh, you know, considering what you're putting out there and the people that you're pouring into now that are successful.
• 32:45
  SPEAKER_04: But it give us some steps to someone who's might be listening to the SNAT right now, and what they're if when they go on their on your website and start learning about your training, where do they start at?
• 32:54
  SPEAKER_04: And what how do you what's the increments of of working up and what should they expect through your training?
• 33:00
  SPEAKER_04: Should they just continue to you know to move forward?
• 33:02
  SPEAKER_00: Yeah, so we have what we call a four-week real estate business accelerator.
• 33:07
  SPEAKER_00: And what we've noticed is people across the country tend to do what I went through in year two.
• 33:13
  SPEAKER_00: Like they learn how to do some deals, they end up being burnt out, worn out, and so they literally press what I call reset.
• 33:19
  SPEAKER_00: They like crash the thing down and then they ask themselves, should I keep going?
• 33:23
  SPEAKER_00: We try to get them before that happens, but sometimes it comes after it happens.
• 33:26
  SPEAKER_00: And so they come in, and really what happened with me was I didn't have the foundation of the company strong yet.
• 33:32
  SPEAKER_00: So I scaled this team in year two on top of a really weak foundation.
• 33:36
  SPEAKER_00: So, what do I mean by that?
• 33:38
  SPEAKER_00: I had little to no systems and processes, no training, no onboarding, no tracking.
• 33:44
  SPEAKER_00: And you know, when I hired a closer, it was like, hey, here's a script, come watch me and like shadow me.
• 33:50
  SPEAKER_00: And that's not how we build a company.
• 33:51
  SPEAKER_00: And so the whole that's why it all came crashing down.
• 33:54
  SPEAKER_00: And so now we built this four-week front-end virtual coaching.
• 33:58
  SPEAKER_00: We literally only charge$27.
• 34:00
  SPEAKER_00: And people are like, you're an idiot, why do you give this away for free?
• 34:04
  SPEAKER_00: I'm just a big believer in earning people's trust.
• 34:07
  SPEAKER_00: And so if I can get you a minimum of a deal a month off this, which is probably gonna be more, then I hope I've earned the right to continue to work with you.
• 34:15
  SPEAKER_00: And that's my philosophy.
• 34:17
  SPEAKER_00: And so, from fixing the foundation in terms of your sales process, your systems, your processes, how to launch marketing channels the right way, how to dispo the deal to buyers to wholesale them.
• 34:28
  SPEAKER_00: We go over all of that in that four-week training.
• 34:31
  SPEAKER_00: Because it doesn't matter if you want to do one deal a quarter or one deal a day, how you market, acquire, systemize, and dispo a deal is all the same.
• 34:38
  SPEAKER_00: The difference in is how big do you want a team after that?
• 34:42
  SPEAKER_00: And so then we go into a workshop we do every month in Columbus, Ohio.
• 34:47
  SPEAKER_00: And that's really where we onboard you as if you're one of my closers.
• 34:51
  SPEAKER_00: Because a lot of times what's happening is I can say the word onboard, and people are like, oh, that makes sense.
• 34:56
  SPEAKER_00: You onboard someone.
• 34:57
  SPEAKER_00: But they've never really even been through a proper structured onboarding themselves in their entire career.
• 35:03
  SPEAKER_02: Right.
• 35:04
  SPEAKER_00: And so we onboard them in the morning as if you're my closer.
• 35:07
  SPEAKER_00: So then we by, I don't know, two o'clock the first day, you have been thoroughly understand what onboarding looks like for a closer and you master it yourself first, right?
• 35:17
  SPEAKER_00: Because you can't teach someone what you haven't done yourself.
• 35:19
  SPEAKER_02: Right.
• 35:20
  SPEAKER_00: And then we go into how do we recruit, onboard, train, pay, all of that for a closer, because you're never really gonna get consistent deal flow without somebody sole focused on revenue.
• 35:31
  SPEAKER_00: And so I'm a big proponent that everyone should have at least one closer because as you build a company, you're always gonna be wearing multiple hats as you build.
• 35:40
  SPEAKER_00: And you might as well have at least one person so focused on driving deals so that revenue comes in that you can reinvest back into marketing and the team and all that kind of stuff.
• 35:50
  SPEAKER_00: And what happens is people will bring on that closer, but they don't train them at all correctly.
• 35:55
  SPEAKER_00: Then they don't lead them, manage them, track anything.
• 35:58
  SPEAKER_00: They don't even, you know, when someone doesn't perform, they blame the market, the leads, you know, all these other external factors when it's really not the problem.
• 36:06
  SPEAKER_00: The problem is we're not giving it infrastructure because if a closer comes in and performs in the first 30 days, I mean, I don't know about you, but would you spend two, three thousand dollars a month on a base to make$7,500 a month off someone?
• 36:19
  SPEAKER_00: I would assume everyone will say yes to that, right?
• 36:22
  SPEAKER_04: How many times can I write the check?
• 36:24
  SPEAKER_00: Yeah.
• 36:24
  SPEAKER_00: And so I think I had an epiphany at an event, like, I don't know, eight years ago.
• 36:29
  SPEAKER_00: And this guy walks up to me and he's like, Tiffany, you know, why are you constantly chasing deals?
• 36:34
  SPEAKER_00: And I said, What do you mean by that?
• 36:36
  SPEAKER_00: And he's like, You should be chasing heads.
• 36:39
  SPEAKER_00: And I said, Tell me more.
• 36:40
  SPEAKER_00: And he was like, Why don't you focus all of your energy on recruiting the next closer and training that person so that they go get eight deals a month instead of you out in the field chasing and hustling because each head is worth eight deals a month?
• 36:55
  SPEAKER_00: And I don't know, he dumbed it down, and I just remember having this like, you're right, what am I doing?
• 37:00
  SPEAKER_00: People spend their time training some half-ass VA or I don't know, their brother, mother, sister that never works out.
• 37:07
  SPEAKER_00: And, anyways, I think we overcomplicate it and then we're like, but if I hire this person, what if they fail?
• 37:13
  SPEAKER_00: What if they cost me money?
• 37:15
  SPEAKER_00: What if this?
• 37:16
  SPEAKER_00: What if that?
• 37:17
  SPEAKER_00: And so if you come to my office, I have a uh note in my office that says, but what if I succeed?
• 37:22
  SPEAKER_00: Right?
• 37:22
  SPEAKER_00: Because it's all mindset BS, we tell ourselves in our head, and it's like we don't think we're worthy of success.
• 37:30
  SPEAKER_00: And we overcomplicate things when somebody's already done them, and really all you have to do is press the copy and paste button and then become the person that deserves the result.
• 37:40
  SPEAKER_00: And so I call that learn to become.
• 37:42
  SPEAKER_00: The first step is we have to learn how to do it, then we do the things we learn, and then the only way that you get the actual result is you have to become the person that deserves the result.
• 37:52
  SPEAKER_00: And a lot of times people just don't even become that person, which is why they never get the result.
• 37:58
  SPEAKER_00: But, anyways, we have a workshop and then we go over raising money, exit strategies, underwriting, building the team out, all that.
• 38:05
  SPEAKER_00: And then we have a one-on-one coaching program as well.
• 38:08
  SPEAKER_04: Dabble a little bit into because I imagine it's a lot of people never get started because they don't think they have the money.
• 38:14
  SPEAKER_04: Obviously, you're only charging$27 for them just to get started, but to acquire some of their first deals, the hard money that's out there.
• 38:24
  SPEAKER_04: Where did you learn that?
• 38:25
  SPEAKER_04: What mistakes have you made?
• 38:27
  SPEAKER_04: There are people out there I've gone to networking things that have money that are readily available to put it in.
• 38:33
  SPEAKER_04: Matter of fact, I was watching one of your reels here before we got on.
• 38:37
  SPEAKER_04: You had a gentleman who was flipping and so forth, and now he's in the lending, which you said was you would like to actually reach that level where you're actually one of those investors lenders.
• 38:49
  SPEAKER_04: How does someone coach and find those people?
• 38:51
  SPEAKER_04: And obviously it's their first deal or two.
• 38:54
  SPEAKER_04: How do they build that trust that the lender's gonna be willing to give them the money?
• 38:57
  SPEAKER_00: A few things.
• 38:58
  SPEAKER_00: I am a very large private lender now, and there's lots of private lenders out there that absolutely love working with newer people because the reality is we can charge more money because you're newer, right?
• 39:09
  SPEAKER_00: And so there's plenty of money out there.
• 39:12
  SPEAKER_00: Yeah, there's deal money and there's business capital, and they're two different things.
• 39:16
  SPEAKER_00: A lot of times, again, it goes back to 99% of the time, it's a self-belief problem because they really do have access to money most times.
• 39:24
  SPEAKER_00: Most times people, especially if you have a W-2, but most times people will qualify for a 0% interest credit card, a line of credit, a small business loan.
• 39:33
  SPEAKER_00: And I don't know what it is about our industry.
• 39:36
  SPEAKER_00: Like if you go to tech or any other industry, it's very normal.
• 39:39
  SPEAKER_00: That's why SBA loans were created.
• 39:41
  SPEAKER_00: We take out debt to fuel the front end of a company.
• 39:44
  SPEAKER_02: Right.
• 39:44
  SPEAKER_00: And I think people allow that to hold them back, but it's just really an excuse, right?
• 39:49
  SPEAKER_00: It's just an excuse to not become the person you're supposed to be because the person up here is leveraging debt to get to where they want to go in the beginning.
• 39:57
  SPEAKER_00: And so that's just a decision that has to be made.
• 39:59
  SPEAKER_00: And then from raising private money, a lot of times, again, it's goes back to a self-limiting belief.
• 40:06
  SPEAKER_00: A lot of people, including myself, wasn't raised in an environment where money was a thing.
• 40:11
  SPEAKER_00: I was literally living on a street corner when I was a child.
• 40:14
  SPEAKER_00: And so we were raised not to talk about money, think about money, ask about money.
• 40:19
  SPEAKER_00: And the reality is we think that when we go to raise private money, we think that we're asking for something or begging for something and it feels wrong.
• 40:27
  SPEAKER_00: When in reality, we're offering a life-changing opportunity to somebody.
• 40:31
  SPEAKER_00: And people like, I don't know people with money.
• 40:33
  SPEAKER_00: Okay, do you know a nurse, a firefighter, a corporate employee, a cop?
• 40:38
  SPEAKER_00: Because all these people are lenders for me.
• 40:41
  SPEAKER_00: And how do they do that?
• 40:43
  SPEAKER_00: Because they were taught by the school system that you take retirement and you put it in this 401k with your employer and then you sit on it for years, and then you have no control and you put it in the stock market, right?
• 40:55
  SPEAKER_00: And if if you care about the people that you're talking to, whether it's your family, your friends, whatever, the reality is look at what just happened to Netflix this week.
• 41:03
  SPEAKER_00: You know, they launched some video and Elon Musk comes out and says one statement you all should stop buying Netflix, and in 24 hours it dropped by$20 billion in valuation.
• 41:14
  SPEAKER_00: Yeah, that's why you shouldn't have your money in stocks.
• 41:17
  SPEAKER_00: And so imagine all of these cycles throughout time where all these people work their whole life and they put money in a 401k, and at the snap of a finger, they just lost their retirement because they have zero control.
• 41:30
  SPEAKER_00: And so when you're raising private money, the stocks don't even compare to real estate.
• 41:35
  SPEAKER_00: You know, in real estate, you buy at a 30 to 50% discount, and stocks, you can't.
• 41:40
  SPEAKER_00: You only buy at market value.
• 41:41
  SPEAKER_00: When you buy real estate as a rehabber, you back it with a lien against the property, title lending insurance, hazardous policy in case something happened to it.
• 41:51
  SPEAKER_00: It's protected and insured in the stock market.
• 41:54
  SPEAKER_00: You have none of that.
• 41:55
  SPEAKER_00: So if you lose money, you're screwed.
• 41:57
  SPEAKER_00: If a flipper, a house gets hit by a tornado, the insurance will pay that lender back plus interest.
• 42:03
  SPEAKER_00: And so once somebody is educated, they're kind of crazy not to private lend, to be honest.
• 42:10
  SPEAKER_00: And so you can self-direct your old 401ks or your 401ks to have control over your money.
• 42:15
  SPEAKER_00: And also the stock market, you have zero control over your return.
• 42:19
  SPEAKER_00: In real estate, you negotiate fixed returns.
• 42:22
  SPEAKER_00: It's like signing a lease with a tenant and you get hand handed the same amount of money every month.
• 42:27
  SPEAKER_00: And so, where else can you get double digit interest rates, protected, insured, and backed by a lien against the property, and it's a physical, tangible asset.
• 42:37
  SPEAKER_00: Again, it all goes back to a self-loaning belief and lack of education.
• 42:41
  SPEAKER_00: Those two things are what solve those questions that hold people back.
• 42:45
  SPEAKER_04: What is for the because some of those people are just getting started?
• 42:48
  SPEAKER_04: Because I'm I imagine the ramp up is obviously to use your own money, right?
• 42:51
  SPEAKER_00: I mean, you it's I don't recommend anyone using their own money ever.
• 42:55
  SPEAKER_04: Don't ever use your okay, leverage other people's money, even if it's that 10% for the short period of time.
• 43:00
  SPEAKER_04: I'm I'm with you because I'm obviously in mortgages, and we talk about this all the time.
• 43:05
  SPEAKER_04: Why are you pouring all your money into that?
• 43:07
  SPEAKER_04: But so in bring in as a beginner, like you said, you like newbies in the business because you can charge them a little bit more.
• 43:14
  SPEAKER_04: There's a little bit more, a little risk because they haven't proven themselves so much.
• 43:17
  SPEAKER_04: Everyone understands that.
• 43:18
  SPEAKER_04: That's this part of the deal.
• 43:20
  SPEAKER_04: What is it that an investor is looking for when you find a property?
• 43:26
  SPEAKER_04: What information do they need to do their due diligence of whether or not they want to partake in that?
• 43:31
  SPEAKER_00: Yep.
• 43:32
  SPEAKER_00: So I personally require an inspection report.
• 43:36
  SPEAKER_00: I've trained all of my local borrowers to use a licensed inspector, but do a one page friendly version.
• 43:43
  SPEAKER_00: And so I know the licensed inspector and I trust them.
• 43:46
  SPEAKER_00: That's why I do it only in my backyard.
• 43:48
  SPEAKER_00: So I a licensed inspection report, comparables, but really the person lending money should learn how to run comparables on their own to verify the numbers.
• 43:56
  SPEAKER_00: And if they don't know how yet, the lender themselves also needs.
• 44:00
  SPEAKER_00: To get a mentor, in my opinion, until they have it on lockdown.
• 44:03
  SPEAKER_00: Then they need to provide all the criteria on the property, you know, the age, the close date, the projected hold time.
• 44:10
  SPEAKER_00: They should have a deal analysis they send in the packet that shows what their projected profit will be, where all the numbers are at.
• 44:16
  SPEAKER_00: And everything needs to be very transparent, 100 plus photos, because the lender only cares about the deal.
• 44:22
  SPEAKER_00: Like I don't care about your credit, your history, don't care.
• 44:26
  SPEAKER_00: What I care about is is this a good deal?
• 44:28
  SPEAKER_00: And is it a deal that if you default on, I am willing to take over myself.
• 44:33
  SPEAKER_02: Right.
• 44:34
  SPEAKER_00: And so with that being said, I don't do gut flips.
• 44:37
  SPEAKER_00: So I don't lend against gut flips personally.
• 44:39
  SPEAKER_00: Now other people do.
• 44:40
  SPEAKER_00: But this is just for me.
• 44:41
  SPEAKER_00: As long as it fits my own buy box that I would flip, then I'm okay backing it to somebody that's a little bit newer in return for the fact that I would take that property if needed.
• 44:53
  SPEAKER_04: Does going to them with your, I'm going to call it your team, the general contractor, obviously, you're getting a report from the general contractor, what's the repairs going to cost and all that kind of stuff?
• 45:05
  SPEAKER_04: But in your training, are you training them to kind of get all those things in a row first?
• 45:10
  SPEAKER_04: Do you train for people to do their own sweat equity when they get started?
• 45:16
  SPEAKER_04: What is your attitude towards that?
• 45:18
  SPEAKER_04: Obviously, with your experience, their sweat equity and putting it in because the project could take twice as long versus obviously having a good contractor that's going to show up, get it done within a reasonable period of time and get it back on the market.
• 45:31
  SPEAKER_00: With flipping specifically, is that what you're asking?
• 45:34
  SPEAKER_04: Yeah, just when you're you're approaching again to go to this the investor, because I think you know, someone listening right now, and obviously I I've gotten you know calls being a lender in time.
• 45:43
  SPEAKER_04: I think a lot of too many people are trying to hit the home run, right?
• 45:47
  SPEAKER_04: They want to go in our area, the average home in St.
• 45:51
  SPEAKER_04: John's County, Florida, St.
• 45:52
  SPEAKER_04: Augustine.
• 45:53
  SPEAKER_04: Jacksonville is a little bit lower, just the density, but you know, you're probably looking your average home is in five to six hundred thousand.
• 46:01
  SPEAKER_04: So they want to go out and find that six, seven hundred thousand dollar home instead of the three or four hundred thousand dollar home that we know anyone in the general area that wants to move into St.
• 46:11
  SPEAKER_04: John's County can buy, whether they're buying it as an investment property or buying it as their primary residence, will should sell pretty much overnight.
• 46:19
  SPEAKER_04: They want to hit the home run and they they go out there and they're looking for the money, but they really don't have the plan behind them.
• 46:24
  SPEAKER_04: They don't know who's gonna do the repairs, who's gonna be doing those things.
• 46:28
  SPEAKER_04: When you you go to present this to a investor to say, hey, will you go in with me on this to have your your team behind you?
• 46:36
  SPEAKER_04: Say, I have here's my general contractor, here's my guy, here's all my reports that I've got, here's the repairs we're gonna do, and we believe we can turn around and sell it for this.
• 46:44
  SPEAKER_00: That's a loaded question.
• 46:46
  SPEAKER_00: But one, if they don't have a team yet, they should wholesale it.
• 46:49
  SPEAKER_02: Yeah.
• 46:50
  SPEAKER_00: And so that's why they should wholesale first as they build their back end.
• 46:54
  SPEAKER_00: I mean, I launched Toledo, Ohio in three weeks.
• 46:57
  SPEAKER_00: I've never set foot in the city with any of the properties, and this is how we did it.
• 47:01
  SPEAKER_00: You go to a market, you find a property manager who manages over 500 plus doors because they will have their own GC, their own brokerage, their own agents, their own inspectors, everything.
• 47:13
  SPEAKER_00: And so you can then hold properties with them.
• 47:16
  SPEAKER_00: You can use their GC and flip it as long as you use their agent to list it.
• 47:20
  SPEAKER_00: You can send all of your retail leads to them so they have the benefit of being truly partnered with you, and you test a project with them and you obviously do your due diligence.
• 47:29
  SPEAKER_00: Like no property manager owning 500 plus doors is gonna want to ruin the reputation in the market.
• 47:35
  SPEAKER_00: And so that is how we approach taking on a virtual market.
• 47:39
  SPEAKER_00: We do something similar even in our own backyard.
• 47:41
  SPEAKER_00: We have a GC who, and this is what I teach my students.
• 47:45
  SPEAKER_00: So, what you're explaining, like if you are in my world, that wouldn't even be a thing that I would deal with.
• 47:50
  SPEAKER_00: Like, I would be teaching them the process in less than a week, and then they would go execute.
• 47:55
  SPEAKER_00: And no, I would never use my own money.
• 47:56
  SPEAKER_00: I didn't use any of my own money on any of my first rehabs.
• 48:00
  SPEAKER_04: I want to go into just and finish up your in our hour that I got with you.
• 48:05
  SPEAKER_04: Yeah.
• 48:05
  SPEAKER_04: Uh you said if you restart, you did it all over again, you would wholesale first.
• 48:11
  SPEAKER_00: Yep.
• 48:12
  SPEAKER_04: All right, so for our listeners out there, and maybe this could be a good little reel here to finish up five-minute reel here.
• 48:19
  SPEAKER_04: Explain how, and I assume you're is this what you're teaching as well?
• 48:23
  SPEAKER_04: If you're just getting started, are you teaching wholesaling first?
• 48:28
  SPEAKER_04: How would you recommend how, and then explain obviously what wholesaling is to our listeners?
• 48:33
  SPEAKER_00: Yeah, so wholesaling is when I put a house in contract at a discount.
• 48:37
  SPEAKER_00: So they're typically in a distress situation, whether it's divorce, probate, death, you know, debt, whatever.
• 48:45
  SPEAKER_00: Um, we put it in contract, we find an end flipper, buyer, hedge fund, you know, et cetera.
• 48:50
  SPEAKER_00: We uh have in a separate second contract that we assign that contract so we sell the paper to them and we make a spread.
• 48:57
  SPEAKER_00: So we never actually own the property.
• 48:59
  SPEAKER_00: That's a wholesale.
• 49:00
  SPEAKER_00: So it's much easier in the sense of you have to spend money on marketing, but you could also go get free deals like I did in my first year.
• 49:08
  SPEAKER_00: It's just a lot of hustle.
• 49:09
  SPEAKER_00: So it's just depending on what someone's willing to do.
• 49:11
  SPEAKER_00: If they have the money up front or they want to leverage money, they can move at way faster speeds to build the business.
• 49:17
  SPEAKER_00: If for some reason they don't get approved for money and they don't have as much, then it is what it is.
• 49:22
  SPEAKER_00: They have to put in the time and sweat equity to get the deal.
• 49:26
  SPEAKER_00: Getting the deal is the number one priority because without the deals, none of the rest of the stuff matters.
• 49:31
  SPEAKER_00: Like there's no sense in learning how to flip a house or raise money if you don't have deals.
• 49:35
  SPEAKER_00: And so some programs, unfortunately, are like, oh, you need to go find money and contractors first.
• 49:40
  SPEAKER_00: Well, then what happens is you stress out and never actually get deals.
• 49:44
  SPEAKER_00: So we don't want people to worry about that part.
• 49:47
  SPEAKER_00: Once you have a really good deal, the thing will make you money.
• 49:50
  SPEAKER_00: And so we recommend doing that first because it builds momentum, gets you cash flow, and then you also get educated on the rehab process and raising money.
• 50:00
  SPEAKER_00: Now keep in mind, I think sometimes again it comes to a belief system.
• 50:04
  SPEAKER_00: When we teach someone to raise private money, we've had tons of success stories that you learn today, you've raised hundreds of thousands of dollars in the first five days.
• 50:12
  SPEAKER_00: It's just again, all lack of knowing how to do it.
• 50:15
  SPEAKER_02: Right.
• 50:15
  SPEAKER_00: The flipping thing, it could take time to find contractors, but there's a process, right?
• 50:19
  SPEAKER_00: There's a concrete process to going and finding the right contractors.
• 50:24
  SPEAKER_00: And so again, it's all just systems processes, and I just need to learn how to know how to do it.
• 50:30
  SPEAKER_04: And I think obviously that's the point we want to get across.
• 50:32
  SPEAKER_04: Obviously, you could go on for all day long talking about what I the point for the listeners is one, they need to go and get on your website, resultsdrivenrei.com.
• 50:43
  SPEAKER_04: Obviously, Tiffany's on Instagram and so forth, and look it up.
• 50:47
  SPEAKER_04: And obviously, you have your podcast as well, you that you and Josh do, and learn from this and see if it's something you want to get into.
• 50:53
  SPEAKER_04: I want to just go back to the wholesaling thing.
• 50:56
  SPEAKER_04: So help me through it.
• 50:57
  SPEAKER_04: I'm gonna try to read through uh create a scenario.
• 51:01
  SPEAKER_04: I see a house, obviously, whatever desperation they want to sell it, I get it 75 cents on the dollar.
• 51:07
  SPEAKER_04: It needs some work or whatever, whatever the situation is.
• 51:11
  SPEAKER_04: That contract, though, and obviously, my in my mind, I'm getting this contract because I eventually want to obviously sell that contract to somebody else.
• 51:19
  SPEAKER_04: Is this a 30-day thing?
• 51:21
  SPEAKER_04: Is this a 60-day thing?
• 51:23
  SPEAKER_04: How much time in that contract does someone have from the wholesaler to obviously try to find someone to buy it from them?
• 51:30
  SPEAKER_00: Yep.
• 51:31
  SPEAKER_00: So our process is we put every house in contract with a typical 30-day close and a 21-day inspection.
• 51:38
  SPEAKER_00: During the 21 days, we do the inspection, we market the deal, and we either have it sold or needs renegotiated because the seller lied about the condition or something.
• 51:48
  SPEAKER_00: And so we typically have it sold, assigned to a buyer within two to three weeks of locking it up.
• 51:54
  SPEAKER_04: The obviously, the the listener out there, someone just starting this, obviously educating themselves with your course to know what the next step is.
• 52:02
  SPEAKER_04: You know, obviously they're gonna run out there and get that wholesale, you know, hopefully by obviously learning through your your training, but they want to know what's obviously on the other side of the door when they they get that contract, to know who they can bring that contract to, and I would imagine initially to hopefully obviously move that, assign it to somebody else.
• 52:23
  SPEAKER_04: You don't want to go and flip the line.
• 52:25
  SPEAKER_04: Yeah, just I mean, obviously, there's you are probably finding buyers out there, or I mean, obviously here in Jacksonville, we have companies that probably do something similar to what you're doing as far as you know, they're buying up a lot of houses at any given time.
• 52:38
  SPEAKER_04: They've got numerous deals going on, flips and so forth going on, type of thing going on, to be able to find that deal and then obviously bring it to someone like that and say, Yeah, and then what what kind of return is someone, a wholesaler, someone just getting started, should feel really good at is make is assigning that over, making a couple thousand dollars, ten thousand dollars.
• 52:59
  SPEAKER_04: What is a typical wholesale?
• 53:00
  SPEAKER_04: How does the compensation generally come out there?
• 53:03
  SPEAKER_00: I mean, it's market by market.
• 53:05
  SPEAKER_00: The Midwest, like an average wholesale is only going to be like 10 grand in California, it's 60,000 in Florida, it's like 25,000.
• 53:13
  SPEAKER_00: Well, under your averages, you know, some smaller, you'll have some bigger.
• 53:17
  SPEAKER_00: And then the buyers, again, it all comes down to if you have a good deal, it'll sell it like hot cakes, just posting it on Facebook.
• 53:23
  SPEAKER_00: And so the buyer piece, I'm not worried about.
• 53:26
  SPEAKER_00: Like when people worry about those moving pieces, they never actually go lock up the deal.
• 53:31
  SPEAKER_00: And the buyers, there's software that's like a hundred bucks a month, and every buyer in the country that's bought a house in the last year on an LLC is on there.
• 53:40
  SPEAKER_00: So you just leverage the software.
• 53:42
  SPEAKER_00: You leverage, you can even call a already flipper, wholesaler, whatever locally that already has this bill and said, Hey, I just locked up this deal.
• 53:51
  SPEAKER_00: Will you will you JB it with me?
• 53:53
  SPEAKER_00: Right?
• 53:53
  SPEAKER_00: Because getting the deal is the number one priority.
• 53:56
  SPEAKER_00: Nothing else, in my personal opinion, not that it doesn't matter, but when we get started, we need to learn how to get the deal, how to negotiate it, and put in contract.
• 54:05
  SPEAKER_04: So there's other people out there to figure out how to do the rest.
• 54:08
  SPEAKER_04: I'm totally with you.
• 54:09
  SPEAKER_04: I think that's really a thing of life, right?
• 54:12
  SPEAKER_04: And real estate agents are, you know, the many of the listeners on here, as you guys know, you have some of the I've had the best in Northeast Florida on here, and it's all about being forward-facing, doing the money-making activities, and the money-making activities in this process that you're training on, where it's wholesaling, flipping, is getting the deals.
• 54:34
  SPEAKER_04: When you have the deals, as my boss likes to say, be the hunted, not the hunter.
• 54:39
  SPEAKER_04: When you've got the deals, people are going to find you because you've got the deals, because you've done the hunting and you're good at it.
• 54:47
  SPEAKER_04: I think that should resonate with a lot of real estate agents.
• 54:49
  SPEAKER_04: Obviously, we could talk on forever.
• 54:51
  SPEAKER_04: I've had you on here for an hour.
• 54:53
  SPEAKER_04: Tiffany, give me a little bit of pitch and why it's worthwhile for people to go on that are have any interest in here for$27.
• 55:01
  SPEAKER_04: They're going to get a taste of what you do.
• 55:03
  SPEAKER_04: Tell them what to sell that for us here in the last 30, 45 seconds, if you could.
• 55:08
  SPEAKER_00: Okay.
• 55:09
  SPEAKER_00: Yeah, our four-week virtual coaching is four weeks.
• 55:12
  SPEAKER_00: The first week's all around marketing.
• 55:14
  SPEAKER_00: So, how do we properly launch a marketing channel from picking the right one, what to spend on it, what to expect in return, how to plan for it and track it.
• 55:23
  SPEAKER_00: The second week is all around the phone sales acquisitions process.
• 55:27
  SPEAKER_00: So we know a check-the-box process to lock up the deal.
• 55:30
  SPEAKER_00: The third week is all around the systems, like how do I manage my CRM and track KPIs?
• 55:36
  SPEAKER_00: And then the fourth week is how do I maximize the spread on wholesaling and the dispo side?
• 55:41
  SPEAKER_00: So, where do I find my buyers?
• 55:43
  SPEAKER_00: How do I do my virtual inspections, scope of works, how do I market it to buyers and get it sold in less than three weeks?
• 55:50
  SPEAKER_00: And we have the entire thing systemized so you can plug and play in it.
• 55:54
  SPEAKER_00: And so that's what the four weeks is all about at a very high level.
• 55:58
  SPEAKER_00: And so it's not necessarily for someone who knows nothing about real estate because I'm not teaching like what a wholesale is.
• 56:04
  SPEAKER_02: Right.
• 56:05
  SPEAKER_02: Right.
• 56:05
  SPEAKER_00: For somebody, we have a lot of one-man shows or agents or small teams that come in and we help them then take their knowledge and scale it from there.
• 56:13
  SPEAKER_00: But really, results driven is here to turn it into a business and not just like chasing one-off deals.
• 56:20
  SPEAKER_04: You're not teaching what wholesaling is, but you're teaching how to leverage wholesaling to make some money.
• 56:26
  SPEAKER_00: What I meant by that is I don't teach you what like 101, what a wholesale is.
• 56:31
  SPEAKER_00: I'm assuming you already come in and have watched a couple of YouTube videos.
• 56:34
  SPEAKER_00: I have a newbie program per se, if that makes sense.
• 56:37
  SPEAKER_04: I appreciate you coming on, Tiffany.
• 56:39
  SPEAKER_04: I hope my listeners got a little bit of what you're doing because there's a lot packed in there and then just an hour and they reach out to the resultsdriven rei.com for 27 bucks to even just have a little bit of knowledge on it, as even the real estate agents that are doing this, to have a little bit of knowledge that's out there.
• 56:57
  SPEAKER_04: You're ready to kick them off and get started right away in this those first four weeks there.
• 57:02
  SPEAKER_00: Yep.
• 57:03
  SPEAKER_00: You can find it on our website.
• 57:04
  SPEAKER_00: We also have workshops every month here in Columbus if you're really one of those decision makers that likes to take fast action and really get after it.
• 57:11
  SPEAKER_00: But yeah, I also have a results-driven podcast.
• 57:14
  SPEAKER_00: And on the podcast, I try to keep it to like 15, 20 minute max episodes where it's very tactical and you can execute it live in your business today.
• 57:24
  SPEAKER_04: So you're giving real live tactics that you guys are actually implementing yourself, things that you've run into, because real estate, we know every transaction is a little bit different than the last one, and how you guys are getting around and working with obviously not only yourselves, but the people you're coaching as well.
• 57:42
  SPEAKER_00: Yep.
• 57:43
  SPEAKER_00: Yep.
• 57:43
  SPEAKER_04: Tiffany, I appreciate you.
• 57:45
  SPEAKER_00: Awesome.
• 57:45
  SPEAKER_00: I thanks for having me on.
• 57:48
  SPEAKER_00: This episode has come to an end, but your journey continues.
• 57:52
  SPEAKER_00: Subscribe to the podcast so you never miss an episode.
• 57:55
  SPEAKER_00: If you want direct help from us, join our free community by visiting the results driven podcast dot com.
• 58:01
  SPEAKER_00: That's the results driven podcast.com.
• 58:05
  SPEAKER_00: We'll see you next time on the results driven podcast.
• 58:08
  SPEAKER_04: We'll see you next time on the results driven podcast.