Digital Social Hour - The Ugly Truth About Picking Someone's Brain I Jon Parsons DSH #493

Episode Date: June 13, 2024

🚫 Avoid These Cringe Networking Mistakes! 🚫 Tune in now to the latest episode of Digital Social Hour with Sean Kelly! Join the conversation as we dive into the world of networking with guest Jon Parsons from Baltimore, Maryland. 🌟 In this eye-opening episode, we uncover the most common and cringe-worthy networking mistakes that could be holding you back. From energy suckers to those awkward "pick your brain" lunch invites, we’ve got you covered with actionable tips on how to provide real value and build authentic connections. 🔗 Jon shares his journey from a young entrepreneur selling shovels to running a successful construction company and mastering the BRRRR method in real estate. His story is packed with valuable insights that you can’t afford to miss! 🏡💼 Don’t miss out on these insider secrets that could transform your networking game and set you on the path to success. Watch now and subscribe for more insider secrets. 📺 Hit that subscribe button and stay tuned for more eye-opening stories on the Digital Social Hour with Sean Kelly! 🚀 #DigitalSocialHour #SeanKelly #Podcast #NetworkingMistakes #JohnParsons #Entrepreneurship #RealEstate #BRRRRMethod #BusinessTips #ApplePodcasts #Spotify #SuccessfulNetworking #NetworkingTips #BusinessNetworking #CringeMistakes #NetworkingFails CHAPTERS: 0:00 - Intro 0:44 - Growing up 4:02 - College 8:38 - First business 10:41 - How To Find A Mentor 13:30 - Is Success Volatile 15:21 - Should You Stay Humble 19:50 - Be Careful Who You Share Your Vision With 24:07 - The BRRRR Method 26:10 - How I Buy Houses With No Money 27:20 - How to Get 100% Financing 30:47 - Final Thoughts APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application BUSINESS INQUIRIES/SPONSORS: [e-mail] GUEST: Jon Parsons https://www.instagram.com/jontrepreneur92/ SPONSORS: Deposyt Payment Processing: https://www.deposyt.com/seankelly LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit podcastchoices.com/adchoices

Here's my thing. I hate, this is going to be a pet peeve for you. Isn't it annoying when someone says, hey, I'd like to take you to lunch. There's things I'd like to pick your brain. There's like no reciprocation of value. There's energy and then there's energy sucker. And I look back and all the times

the people I went up to and said, I'd like to take you to lunch. I know they're cringing, but find, search for an increase, just something. As soon as you see that person has a need, offer to fix that need, provide something. As soon as you see that person has a need, offer to fix that need, provide something. Wherever you guys are watching this show, I would truly appreciate it if you

follow or subscribe. It helps a lot with the algorithm. It helps us get bigger and better guests, and it helps us grow the team. Truly means a lot. Thank you guys for supporting, and here's the episode. All right. We got John Parsons here today from Baltimore, Maryland, right? Yeah, I flew out of Baltimore. I live by Annapolis. So about 40 minutes away from the airport there. Nice.

You born and raised out there? I was born in Southern Maryland. I was born in Florida, but lived most of my life in Southern Maryland. Growing up, were you always entrepreneurial into business? I was. As a younger kid, at one point, I bought 22 shovels from a Lowe's and, uh, went out and stood at the corner and sold, sold them for triple the price when the, when the snowstorm started. You were that kid. Yeah, I was, which, which actually I found out later, it wasn't necessarily

an ethical business move, but you know, um, I was posting ads in the classifieds that, you know, 12, 13 years old, I made Christmas wreaths and went around the neighborhood. So it definitely goes back for a while. There was a period after where I kind of fell away from it. Okay, we'll dive into that. Where do you think you got the entrepreneurial side? Was it from your parents? So I think that I don't necessarily think it was from my parents.

I think it might have been partially my older brother. And then part of it was just, I don't take instruction or authority very well. So being able to kind of like do what I want and control that has been kind of like the biggest motivator in that. Yes. You were not a school kid then.

No, I was homeschooled. Oh, nice. And I graded my own my own work really yeah so well once it got to like eighth grade or whatever so um i don't know if my mom would be happy with me admitting that but it did get to the point where i was grading my own stuff and so um no i i hated school um i never i never felt like he was giving me anything like useful at all so i i do hear withchool, the one kickback is the social stuff. Yeah, that was huge.

That was huge because I know that church was like, I got to play basketball for 30 minutes after church. And then homeschool people have this weird thing called co-op where you get together and order oats and honey in bulk and just be weird with their turtlenecks. So they would all get together and order oats and honey and bulk and just be like, you know, just be weird with their turtlenecks. And so like when they would all get together and like order stuff bulk, and then when it comes in, like they share it. But that was like the one opportunity every month where I got like a full hour to actually play with other kids. And so that part sucked. So I had absolutely no social, like as a 18, 19 year old, even then, like after moving out, like no social skills.

Yeah. That was the biggest half, especially as a kid. Cause you want to just have friends and play sports and do all that stuff. Absolutely. That sucked. Wow. So were you on social media at all at the time? No. So, um, not at all. I didn't, um, I'm a little bit older than I look. I'm 32. So at the, at that time, um, I, I did sneak a MySpace when I turned like 16 years old but you went but uh but that's no i wasn't i was before my time i didn't catch the myspace no yeah you didn't miss anything yeah i caught the facebook wave in middle school that was cringe yeah that was a weird phase it was yeah now it's just like grandma's i use it yeah pretty much pretty much instagram i use tiktok just to study like what's viral, but I don't know.

I feel like Facebook is okay for like super local, like kind of seeing what's going on locally, not necessarily like from abroad. Yeah, yeah. There's some good groups on there. You can get leads. I can get leads from groups and things like that because everyone,

you're pretty much friends with like the local people. Yeah. So you didn't go to college? I actually did. And that was actually, i attribute that to being one of the worst decisions i've ever made um i had gone like the very stereotypical you know path of like college and then i got like a a regular nine to five immediately after and uh i think that going that route ended up turning what led to the initial depression of like, how am I going to actually leave an impact or make an impact on this earth following and the masses? So I did, I got a bachelor's degree in business administration. Wow. You made it through, man.

I did. I did not. Yeah. I was depressed. I was depressed for sure. And I wasn't fat though. So we'll dive into that. I've always had this, the opposite issue. I'm skinny. So I've had trouble gaining weight. There you go. So you're on that Greek yogurt. Yeah. Which everyone's so jealous of, but it's like a, it's like a blessing and a curse. Cause I can eat so much and I don't gain weight.

It's crazy. Yeah. See, I'm on, I can have a bad weekend and I put on some fluff. Okay. Yeah. So I have to stay very active and watch what I eat for whatever reason. I don't know why. It all goes into one place too. I don't know why.

It all goes into one place too. I feel that. How many pounds did you get up to at the peak? So it wasn't necessarily the pounds that were a problem. It was like where it was going. So like, you know, I was, I was basically an eight month or, you know, a visceral dad bod. Yeah. Visceral eight month or, you know, hide the cheese, hide the whiskey.

Your boy's about to clean the pantry out, you know? So yeah, that, that's kind of where, where it where it was okay so how'd you get through that phase was that all of college all four years so no that was that was probably after honestly yeah so that was that that lead was after and i think that that me getting to that point was way more mental than it was physical it was it was mental things And during college, did you have that mental struggle too? Yeah, I think so because there was no way to tie in what I was working on into a bigger picture that you could say this is going to leave an impact on this earth. Like what am I going to do? And this isn't a knock to everyone that goes to college.

Like doing something other than that isn't for everybody. But I definitely just felt, I think think in my subconscious that i was working towards something that wasn't going to couldn't possibly lead to something great or exceptional you know like the best case scenario is i get a job coming out of college making sixty thousand dollars and i'm can't wait for the weekend and i'm watching the clock can't wait for 4 30 and that's what happened right so it happens to almost everyone it does which is crazy it's the scariest to me it's the scariest. To me, it's the scariest. Happened to me in school.

Just looking forward to weekends and, you know, hating Mondays. Now I just appreciate every day. That's all you can do. That's how it should be. That's how it should. Yep. And you know what? Like, you're here.

You said you have, you know, you have seven. You know, and you're living it. You started this, you said, 13 months ago. Yeah. Yep. And, like, imagine if you would have put all this last 13 months and energy into finishing your degree. That would have been the worst thing you could have done, right?

It's terrible. Can you imagine? Would have cost me money. I mean, I wouldn't have learned anything useful in life. The opportunity cost. Yeah. Yeah, it lasted a year. And being from an Asian background, education is really important

because that's how my mother got out of poverty because of education. And it was a different era too. It was a little bit different than the cost of living was so much lower and things like that. And it did help a lot of people, especially immigrants and things like that,

get out of, because just getting a $50,000 or $60,000 salary coming from what they're used to, I mean, that could be a life-changing step in the step. Yeah, my mom came here with $20 in her pocket. Didn't speak English. See, that's admirable, though. Yeah.

You know? Yeah, I'll never knock her for it. It's a different era. Education was super important. Right. She got straight A's, and that's awesome. But for me, and I think for our generation, it's a new movement. It's not about getting A's.

It's about learning useful things and applying it. Exactly. And it's more important than ever. I advise if someone isn't going to do entrepreneurship to learn a skill in a trade and just be as valuable as you possibly can, as opposed to learning something that's going to look good on paper. Because I think the times are changing a little bit in that aspect. Absolutely. So did you have massive debt coming out? It wasn't too bad. I did have a partial scholarship, uh, playing golf. Um, so that paid for a sum of it. Um, but I did, I did have a significant amount of debt. Um, I mean, any amount of debt to, to go do something like that is too much, right? Yeah. Especially at

that age. Cause you're just starting out, you're trying to take some risks and it's hard when you have debt. Right. And so I definitely wish that I would have used that time to go and meet important people and become useful and learn a skill. Or, yeah, learn a skill and master that. For sure. So what was that first kind of business you started when you got out? So I started a construction company in 2018. And that was, it was actually initially mold remediation and it kind of turned into a full service construction company and that company was called parsons restoration and so that was the first one and i learned more i rose that

went well for a first few years it kind of crashed some towards the end but i learned more from that first three years in business the trial and error that that's where i learned i learned more from that first three years in business i bet the trial and error that that's where i learned i learned more in any given day doing that than i did in all of the years i bet yeah when you get thrown in the fire like that for sure that's the only way to learn that's how they should have business classes in college they should they should just say yo go follow this person around all day for six months that's what they should do you know the only the only trouble would be getting the person that's being followed around to agree to it. Right.

They'd have to think of some way to compensate them, whether it's money or... I mean, I'd rather give them my tuition than that person. That's fact. Follow them around as a mentor, right? Exactly. And so I think getting close to the money, getting close to those people that have the life that you want to have, and then becoming valuable to them, no matter what it is, you know, whether it's, you know, offering to be their human footstool, you know, follow them around with a fan and offer them

gentle breezes all day long or whatever it is, you know, I'm joking about that, but to find a way to be valuable to the important people and, and even accept little to no money for it. Like literally ask for nothing in return. I would have done that. I would have much preferred go work for someone for free for four years. A hundred percent. I think I got to look through my emails. I probably still have this. I emailed Gary V.

I said, yo, I'll work for you for free, dude. Like really? And so he's big on that as well. He, I think I've heard him talk about people should start doing that.

I think so. Yeah. I mean, that's what I did at first. Did it, did it, did it work out? He didn't respond, but I would just send that email or DM to anyone I admired.

And I think, I don't remember who accepted it, but probably Dan Fleischman. Right. Yeah. He was like my first mentor. Yeah. Mentorship is crucial though. It is.

It's huge. And you said he was, who was, who was your first mentor? Dan Fleischman. Okay. And how did you, how are you able to, cause here's my thing. it is it's huge and uh you said he was who was who was your first mentor den den fleischman okay and how did you how are you able to because here's my thing i hate it's this is going to be a pet peeve for you too isn't it annoying when someone says like hey i'd like to take you to lunch there's things i'd like to pick your brain oh my there's like no reciprocation of value there's a there's energy and then there's energy sucker and and it sounds a little bit rude to be like that's annoying when people do that because like I look back and all the times

people I went up to and said, I'd like to take you to lunch. I know they're cringing, but instead of that, to have the mindset that you did of find, search for a crease, just something of like, as soon as you see that person has a need,

offer to fix that need, provide something and ask for nothing in return. That's what you have to do, man. I hate when people pull out the lunch or the coffee. It's like so cringed. It is because it's like what, and it sounds selfish to say what's in it for me, but if, if you accepted, I guarantee it, if you accepted every lunch offer to get your brain picked, then you probably would be overweight because you wouldn't do nobody lunch all day long. Lunch for free for 10 years, probably. Yeah, probably.

I mean, it's not a good offer, guys. You got to change it up. How did you get your first one, first mentor? So I like to keep my mentors in categories. So somebody who's especially good in business might not be the best health advisor or might not be the best advice for like relationships or mental health. So I have, I've had a bunch of different mentors. My older brother has been a big mentor for me. He's a traveling musician and things like that. And he's always been the type that just jumps off the cliff and pulls his parachute out on the way down, like figures

out how it works on the way down type of a mindset. So he's been a massive role model for me. And then there's other times, like there was a situation, there was a guy at the time who was way further along in business than me. And I was just like, I didn't ask him to go to lunch. And I was like, how can I add value to this guy? One day I hear, I see him posting on Facebook and he said, I don't know what to do. I've had, um, I think it was like probably during and his, all of his team had and my guys didn't. And I was having a somewhat slow week. So I called him up and I said, Hey dude, you can have half of my guys. And I literally lended him my guys as did not ask nothing in return. And then guess what happened? He started answering my calls. Wow. And when had questions, and it was also a mold remediation company.

And when I offered the guys, I was doing it out of the kindness of my heart, but it was also, it was, not going to lie, it was me kind of searching for a way to add value to somebody who was important. You were thinking long-term. I was, and it paid off for me. That's the way to think, man.

A lot of people are trying to think in one transaction at a time, but you've got to think. It's yes it's chess it's delayed gratification yeah you know for sure that's major do you believe success is volatile so i think that um i think that success is kind of like um success is kind of like eating a burrito on a roller coaster you know you're you got seniorita sitting next to you, and you're having a little fiesta. It's a good time.

And next thing you know, you're choking on a ghost pepper, you know? And somebody's going to have to have some milk. Otherwise, Senorita's going to hop in Big Poppy's cart over there. So I use that analogy to basically say, like, you can fall off a high horse really quick and look at it like this, like, uh, success is so volatile. Like what do you consider to be success? Like health, um, relationships, reputation right now, you could say the wrong thing and you're canceled, you know? Um, right now you could, um, you could, you could go to your doctor's checkup and get horrific news.

God forbid. Yeah. Um, you forbid. You could ask Mike Tyson what happened to his money. So I think that knowing that success is so volatile, like the fear of losing what you've built and create can keep you on your toes. But then I think also knowing that you could recover from anything, like right now, I guarantee you, you truly believe that if this entire podcast was stripped from you, Jersey champs was stripped from you, everything you ever built was completely stripped from you. You could build it back up very quickly. Yeah.

And that like the, the, just knowing that you could overcome just about anything happened to you can, is what helps stay focused and driven. I think. Yeah. I love that. The skillset doesn't go away.

The businesses might, but yeah, I've done many businesses at this point and I've learned something from each one and now I can do stuff much faster. Right. I pulled this off in 13 months. If I started another podcast tomorrow, it'd probably take me six. Right. No, exactly. And so you're starting from scratch. You started from experience. Yeah. And I don't remember where I heard that, but absolutely. You hear this quote a lot about like, you should stay humble. Do you believe in that? So I a hundred percent believe in it, but I do think there's two sides. I think that it,

we were in a day and age where it is popular and cool to post only you're out at clubs and you're, and you're beer bonging and all this stuff. And everyone's like, cheers that on. But the second you post anything remotely, like, look what I did, look what I've accomplished from all my delayed gratification, you're suddenly judged as like a show off. You know, you have like Grant Cardone, who you had on the show recently, he's straddling his jet in his picture. And it's like, I do think he deserves, like all the things that he sacrificed, he deserves to be able to say, like, this is what I've accomplished. But at the same time, being humble is so important. Here's why.

As soon as you get to the point where you're like, I made it, like I'm, I made it to the top. I'm, I'm the, suddenly you're closed off to improvement because where else is there? What else is there to learn? So I think remaining humble allows you to be open-minded and continue to grow because arrogance, I think there's a hard stop at growth. Yeah. Arrogance and ego. It's, it's a tough thing for me to work with people that have that. Yeah, it's not attractive. Yeah, because you have to admit you're not always going to be right. So when you come to a disagreement with someone and their ego and their arrogance kicks in,

they won't even want to move or adjust. 100% and a big part of even like business strategy can be oftentimes playing dumb and just saying, look, I don't know anything about this. Like when I meet with my accountants, I'm like, I, you could be telling me anything. I don't know. I don't know. You know, um, if I'm closing on a property, you know, I'm, I'm the, the closing officer, they're, they're explaining something. I don't know what you're talking about. Can you explain that to me? Like I'm four, but you know, so I think that's important. Some people are afraid to look stupid, right? They are some people are afraid to look stupid right they are they are afraid to look stupid and and i think that there's it's it's like this um pick any movie

that's ever come out where there's a hero there every single movie there's a scene somewhere towards the beginning where they embarrass the out of themselves imagine if are you interested in coming on the digital social hour podcast as a guest? We'll click the application link below in the description of this video. We are always looking for cool stories, cool entrepreneurs to talk to about business and life. Click the application link below, and here's the episode, guys. In our own lives, we're the hero, right? We're the main character in our own movie.

Imagine if we arrived to that scene in that movie, and we turn around and walk away, we'll never get to see what happened at the end. You're going to see an alternate ending, but with you watch a movie where there's that hero, if that scene doesn't happen, there's no movie. They go home. They lived a boring life. They died. That scares, that scares me. That's true. Yeah. Yeah. You got to be willing to. I mean, I got some things I still think about that are, you know, me in weird situations. Yeah. But I had to do it to get to the next level.

Yeah. And I'm sure that there's, because with what you've accomplished, you've had to be in some big rooms with some big people. Yeah. Some really big people. And you didn't get there by being a know-it-all. You know, you went to people and you learned. But I'm sure there are times where you do. Oh, yeah, yeah.

There's some cringe moments. I mean, you know, we grow up and we think that people get impressed by certain items or objects and some people don't. Right. And you come across as like you're flexing it. That's not who I really was at the time, you know. You live and you learn.

Yeah, that's all you can do. You had one interesting thing you said on your Instagram. You said, be careful who you share plans with. So when it comes to that, there is no quicker way to have your vision, the fire in your vision fizzled out by sharing with people who don't get your vision or are not necessarily qualified to, like God shared the vision with me. He didn't share it with anybody

else. And the biggest risk of sharing your secret with those, not secret, your vision, sharing your vision with people is that they are going to potentially talk sensitive. Imagine if somebody 13 months ago would have talked sensitive to you. They could have told you ever, they could have convinced you or not you, but it's just, there's nothing good that can come from sharing your vision. Now, at the same time,

I think there's a difference between sharing your vision and sharing a secret. Like I think that I like to share, I like to give away free information. So I don't think there's any wrong with giving away free information, but a vision, just keep that protected because. Yeah. Got to be very careful who you tell even family you can't tell you yeah no that's a fact because your plan like to get a million subscribers on youtube

that was delusional it was it it's not realistic it's delusional. It's borderline impossible. And so that delusional optimism was the difference. Absolutely. Yeah, and if you tell some normal person that vision, they're just going to absolutely **** on it. Yeah, all day. Yeah, and it sucks when it's family, but it's part of it. It is, yeah. And that's actually been one of the most difficult parts

or just about anyone that has become any had any level of success they really struggle with with um family and friends and anybody that knew them especially people that knew them before like people that knew you before who you are now um you know it's probably feels different when you're around them you know like yeah so for sure there's not many still left yeah they kind of they fall by the it's like the you've changed thing yeah yeah it's like isn't that the point like i don't want to be that guy anymore you're supposed to change yeah even in relationships like you're supposed to change and evolve together yeah yeah i hate when people say oh you've changed like obviously yeah thank you better people and getting inspired you know

yeah because when you grow up in a small town that's all you know but right you got to broaden your horizon a little bit yeah travel the world a bit get some new perspective that's right there's people that still live in my high school town where they grew up oh really yeah yeah and i saw you usually you talk about trying to air you tried you tried LA, right, for a bit. Tried LA, tried Vegas, and stuck with Vegas. LA's not for me. Yeah. And this, why was that? Well, it was during ***, so I don't know if I gave it a fair chance, but it was just not much going on.

And I felt unsafe, actually. Yeah. Yeah. I was very, I was talking about this yesterday. I'm surprised, like, here in Vegas, like, just how, at least where where i've been how clean the streets and everything was it felt clean and safe to me compared to new york city compared oh my gosh yeah compared to new york city or baltimore or anything like that oh baltimore's already it's it's disgusting i've never been there i don't even i don't you've probably been there almost as much as i have really yeah i've been there a

handful of times i don't i go for there for Damn. Okay, so you're in and out. Yeah, I'm not. So like where I'm in, I'm near like Annapolis area. And that's like kind of a more quiet like boating community. And seafood. And then in Annapolis, there is some stuff to do and places to kind of. So it's a nice balance between like stuff to do and then like kind of a quieter. Okay. Nothing like here. I love seafood, man. So so i'll definitely check it out are you there mainly for family yeah um that's just kind of where like i've always been but i

actually recently i lived i just i just very recently moved an hour and a half away from my hometown okay and so for me that was a compromise because i had built a business there and it's a service-based business pinpoint innovations so i couldn't I don't want to say couldn't it didn't make sense for me to completely uproot so what I did is I moved an hour and a half north got away from my hometown it's a completely different completely different area different vibe it's way different and so I got to move away and that was very important and crucial in my growth but um but it's also close enough where I can still operate the business yeah when i moved such a big step dude yeah it yeah and what would you say is the main reason why i think it's different for everyone but i was in jersey which is not a state for

entrepreneurs for the most part so i've been there once or twice which town did you go to i went to like the stereotypical like atlantic city okay yeah that's new jersey that's white trash yeah yeah that was that was that was that was crazy dude there was i think the squirrels were on crack yeah have you seen how the squirrels act there yeah they dude they're like yeah they're weird one of them was like eating his tail it is yeah that's not cool yeah no don't don't get you don't get around a crack squirrel yeah get out of jersey if you're in the entrepreneurship guys it really changed it for me yeah yeah you need to be near a big city, I'd say. Yes. Yeah, for sure. And, and, uh, that's, it has been, I am looking to kind of grow my,

my business network into Baltimore area and, uh, and then, you know, north of Annapolis. So that, that is nice that I'm moving up away, being closer to the cities and, and I've been to some really nice network events for real estate and things like that. So, so you're big in real estate. is nice that I'm moving up away, being closer to the cities. And I've been to some really nice network events for real estate and things like that. So you're big in real estate. Yeah. I'm obsessed with real estate. Yeah. So, and I recently got into, um, into doing buying rentals using what's called the burn method. Okay. So the burn method is an acronym for people who don't know. It's an acronym. It stands for buy, renovate, rent, refinance, and repeat. So essentially it's a way to not use your own money to buy a house, fix it up. And then once it's fixed up, you get it

reappraised for a higher value. Then you get, once you get it reappraised for a higher value. So let's say that you bought it for 150, you put 50,000 into it. Now you're 200,000 all in, but let's say you get it appraised now and it's three hundred and fifty thousand dollars in value then i can refinance for say two hundred and fifty thousand i get all my money back so everything that was lended to me to buy the house in cash i pay them back now i now i have the house which is refinanced in what's called a dscr loan so it's a 30-year fixed. And I have $100,000 in equity in the house. And then I have a renter paying my mortgage for me and there's cashflow and the house is appreciating in value. So in 30 years, a $300,000 asset will now be worth a

million dollars because every 30 years it averages to about triple or more in value. So it's been a game changer for me. And I've actually using $0 of my own money in the past year, I've been able to get into $7. Holy crap. That's brilliant, man. But you talk about moving close to a city. I thought I was hot for a little bit on the inside. I'm like, wow, I'm doing big things.

But then I met a guy just last week. His name was Nick at a networking event. And he, in the past five years, he's at 92. Holy crap. And that's why I tell people to move because you can easily become the top person you're telling. Yeah, and it just opened my mind. I'm like, what am I?

And I know that seven in a year, like that's in my first year of doing that, is good. Really good. But at the same time, I'm like, man, it's so important to get around people like that. We were like, I'm not thinking big enough. Like I'm not, you know? Wow. So you don't use your own money. So you're using a credit card? No. So I'm using what's called a hard money loan. So, and then, so at first when you start the deals on the, the money is very expensive. So you're going to pay a lot in interest. Now it's still going to be worth it

because you're going to have so much equity in the house and things like that. But typically I started out using hard money loans where they lend 90% of the purchase of the home and the renovations. So you have to come up with like 10%. So my first deal, I had $130 in the bank that I ever did. And $130 in the bank that I ever did. And, um, $130 in the bank. And I got a signed contract from somebody,

um, to, to buy the house. Didn't have any money. I called the hard money lender on my first one. And I said, Hey, I have this deal. I sent it over. They lended me 90%. Now I have eight ladies left to close on the house and I have to come up with $30,000 that I didn't have. It took me about 50 or 60 phone calls, um, friends, family to get that $30,000 went to me. And then I was able to close on the house, do the renovations and then refinance, get all my money back and then do it again. Wow. So that's been pretty huge. But now once you actually get a few, then you start meeting private individuals who will

lend you 100% of the purchase and the renovations. Because of your track record. Because of your track record. And then that's where getting on social media recently has really helped. Because I bought three units last month, three properties. And I actually spent $0. Holy crap. He literally wired me to the money.

And this is not like a dime in the rough. These people are everywhere. Once you get into these networks and you start meeting these people, when they hear that you're having success doing the Burr method, they will lend it. And what interest is it? So they usually are about two to three points up front. So if it's a $200,000 loan.

You're going to spend $5,000 or $6,000 in interest right off the bat. And then every month you have to pay a percentage of the loan interest only. So on a $200,000 loan, you're going to spend five or six grand up front. And then you're going to spend about 1% of the loan amount per month. So like $2,000 a month. So the average one takes about four months. So in the end you end up spending about 14, $15,000 in interest. To get 200K? Yeah. Dude, that's nothing. No, it's nothing. And especially like my, you know,

my last one after I refinanced it, I actually got, when I refinanced it, I actually not only did I get my money back, I got an extra 10 grand and I cut it on more, but I just wanted the equity, keep equity in the house. So I, um, so, um, anyways, I had $130,000 in equity in that house. And what's really cool is when you get the money, like when you refinance it, you get the money back. It's not taxed because, because it's technically leveraged by debt. So this is, this is like, I don't want to say invented by Robert Kiyosaki, the rich dad, poor dad author, but he's the one that made this method really popular. I've seen him talk about how he has a billion dollars in debt. Yes, and he brags about it.

Yes, it's the exact same. I got it. It was the first book I ever read was Rich Dad, Poor Dad. So that method is pretty awesome because here's the thing. People are like, oh, but you could sell the house and get $130,000. Okay, but then guess what happens? I'm paying taxes on that $130,000 in profit because that's profit. Right. So instead of doing that, you're so much better off refinancing it, having

$130,000 in equity. Now your net worth just went up $130,000 untaxed. And then if you, then if you want money, instead of selling it, get $130,000 line of credit and live off the debt so like and so instead of selling it if you sold it you'd be living off the cash so what's the difference if you're living off the debt now that that is not taxed yes you're going to pay a little bit in interest but that's some cheap money and you're way better off living off of debt what and having equity and in all these homes so he has a rabbit kiyosaki has a billion dollars in you know in in debt but i don't know what is um how much So he has a, Robert Kiyosaki has a billion dollars in debt, but I don't know what is, how much equity he has.

I mean, it's probably well over. It's got to be a lot at this point. It probably is near a billion. Yeah, because he's done it for so many years. Right. 40 years. So, exactly. So, I mean, I wouldn't be surprised.

And the thing is, like, he's not, he's literally, he's living a life of a billionaire paying nothing in taxes. You can't pay taxes on on equity in the house like because it's it's it's just on paper yeah i pay more in tax than trump yeah you pay zero dollars yes exactly that's how i know i'm not doing that i need to get into real estate this year yeah well if that would be awesome and if you if you ever i um i might not be uh the number one person to go to for that but but I do know people I could connect you with. Cool. Yeah.

Dude, it's been fun getting to know you, man. Anything you want to promote or close off with? I would just say that anybody in life who says that it's not that simple, it's from that Instagram reel where he's there like, what's the biggest lie you're ever told? And he says, it's not that simple. She said, no, what is it? He's like, no, that's the biggest lie I're ever told and and he says uh it's not that simple she said no like what is it he's like no that's the biggest lie i was ever told is it's not that simple it is that simple and and as long as you're willing to wake up and and get kicked in the in

the balls and then choose to be happy then then you are going to have an amazing life in it and if if you're not willing to get kicked in the balls then you're going to have an amazing life in it. And if, if you're not willing to get kicked in the balls, then you're going to get kicked through the walls anyways. Right. And you're going to probably have a miserable life perspective, right? Perspective. Absolutely. So it is that simple and be willing to do what you have to do,

regardless of how you feel. And, uh, every single day. And it is that simple. That's bars, man. Let's end it there.

I love it. Thanks for coming on. Yeah, absolutely. Thanks for watching guys. see you next time all right