Epic Real Estate Investing - A Time Freedom Business with Real Estate Investor Kris Haskins | 564

Episode Date: January 10, 2019

Our guest today, Kris Haskins, a successful entrepreneur, depicts how he managed to escape the rat race to become a skilled real estate investor and advises you how to build up your business. Stay with us and learn where you can find off-market deals, why time isn’t money, and why he decided to start teaching. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terio Media. It's changing, man. As I drive down the street and I see this, people driving cars. I go to the urinals and I see people taking a pee doing this, man. My perspective and outlook is changing, brother. I used to be the direct mail guy. I love direct mail, man, my postcards. I'm cranking them out, letters and stuff.

But now, man, I'm seeing, if you ain't living in that phone, man, I think you might have to be questioned as far as. your business is running, you know. Welcome to the Epic Real Estate Investing show. It is Thought Leader Thursday. Okay, so today I'm delighted by the host of the Real Estate Roundup. He used to flip music tracks and now he flips houses. As well, he works with notes, pre-foreclosures, hard money, lease options,

rentals and property management all the while hosting a very popular YouTube channel, loaded with his entertaining stories and valuable lessons from the trenches. So please help me welcome to the show, Mr. Chris Haskins. Chris, welcome to Epic Real Estate Investing. What's up, Matt? What up, Ralph? Good to have you here, man. I was really, I was clicking around on YouTube, and I came across your channel, and I started watching some of your shows and your episodes are really funny and entertaining.

But I can start to read about you a little bit more, and I was like, wow, we have a very common path of how we got to real estate. I was in the music business for 15 years as a producer, and it looked like you have something similar going on. What happened to music, and how did you get into real estate? Wow, that's cool, man. First, thank you, brother, for providing this information out of the public, man. It really means a lot, bro. Sure, sure. Yeah, glad you're here.

So, yeah, the music business, brother. I don't know your story. I like to hear more about it, but I was a music producer, brother. I mean, doing it, traveling the world, recording with artists, you know, and then we had a couple big hits with 50 cents, and then rolling with Teddy Rowley and doing that crap, staying up all night. You know, Matt, I was working from 10 in the morning, until two in the morning, you know, working my...

And then you go to the clubs to promote. Right? I'm like, I'm feeling old. Right. So, and then I got my publishing deal with EMI, and that was a big deal. How did we not cross-pass? I had a distribution deal with EMI. Really?

Yeah, I was on, I had a full label deal under, on Caroline, but we leveraged the job. Yeah. You weren't doing urban music, though. Yeah, it was hip-hop. Il-Buggy Records. Nice. We probably did cross-pass, man. You know, it just didn't link up.

Right, yeah. As you know, I got my publishing deal, dude, two months later, we had 200,000, man. I'm like, then a few months later, I had $80 in a bank. It goes like that in music, I'm telling you. I think I had like $5 on my account the day before the wire landed on my distribution deal. Oh, wow. Yeah, I remember those days.

But anyway, what happened? How come no longer music and how did you get into real estate? Yeah, man. So I was doing this. A lot of our youth, especially youth from the minority aspect, are taught to do to ball out of control. I thought that was how you do it. If you get some money, you show it out to the world. And that is exactly the opposite thing that we should be doing.

So I was traveling around Miami, L.A., New York, Atlanta, blowing money, left and right? As you know, technology comes up. We got to get pro tools and a new G5 and a new, you know, the new studio. You got to have the newest, right? Right. Two, three thousand dollars a week I'm spending. Money's gone depleting. I'm like, you know what, man?

This business is not designed to help me at all. It's designed to take from me. Got it. Took a little bit of money I had left from that publishing. You know, some of the publishing still came in at that time. I took that money, man. And I'm like, you know what? I'm done.

Instructive lifestyle, the drinking, drug, and sex, and everybody's doing everybody. And, you know, Matt, it's just a lifestyle. It just wasn't for me. Right, right. And so you've been in real estate. When was that transition made? How long ago?

034, bro. 0304. I remember having my studio at the end, at the end, when I was getting out in 2002. I was just letting people come to my house and use my studio. I was having parties. People would just come use my studio. I was just a guy in the house drinking and, you know, they're bringing over whatever, you know, women to party.

And I'm like, I can't do it anymore. You know, can't do it more. All right. So why was it real estate? What led you there? Well, I got a little educated. I read the book Rich Dad, Poor Dad in 2003, which, you know, I don't want to give too many props. The book is good.

I feel you. I know I'm tired of mentioning his name for the last decade. Yeah. Anyway, the book was good. And I'm like, you know what? I never thought about the cash flow quadrant where. Can I do that or no? Yeah, let's do it.

Yeah. And even the book, the book didn't break it down for me. Well, I understood it, really. B, I. I didn't understand this. The cash flow quadrant is cool, but the cash flow. The cash flow. Well, I didn't understand what you could be in the equation,

but this arrow here is the key. It's the arrow. I'm like the cash is flowing from these people that are making the money and going over to me now. This is where I live now. You know, so it's like, it's all no matter what you make here. It doesn't matter. It always is up over there.

Yeah. Totally. Totally. Yeah, that was pretty much my inspiration as well, but my one critique about the book that kind of leaves you hanging in the how-to part, right? No content. Yeah, it gives you the idea and the concept

and you get all fascinated with it, and then you're like, okay, now what's next, right? Yeah. So how did you do that? Was it a course? Was it a mentor? He just went out and started learning trial and error? Dude, I got so blessed to meet two men, brother.

Two rich white dudes, man. Lonnie Scroves was the first one. God rest of the soul and they both moved After Life Matt Lonnie Scruggs and Mike Cheatwood They were running

The local Ria Back in the 2003 And this is before The Ria's were cool Rears are cool now You know Back then When you showed up

Being who I am How I look It was like What are you doing here? Yeah Like it was all clicked up You know I'm showing up

I'm walking in there Hey I didn't know anybody It was a whole another side of the world. The real estate business operates from 9 to 5. The music industry operates from like noon to like 2 in the morning. Yeah, whatever. I know, I got you. So yeah, it's a totally different world. So here you are. Can tell me what you've, that was back what, 2000, three or four, I think you said. So here we are, what, 15, 16 years later? What does business look like for you

today. My business, I don't want to make it seem like I'm a high transaction guy. I do transactions, but I don't live in the world where everybody's looking for five, six deals a month. You know, this is not my world. I do maybe five to seven transactions a year. I'm using private money, but I have a rental portfolio, Matt. And it's not pretty rentals. It's just ugly stuff, you know, and I do lease options. So my lease options are the ones that keep me cranking out. And my I might sell a house two times a year. I get a big down payment out of people, and we do it again. But my lease options is my train.

You don't really see that on the Internet. It's not pretty. Right, right. Well, buying hold isn't pretty, right? You know, that's why they don't have any TV shows called Hold That House. Right? That'd be a very boring television. You know, Matt, true wealth is boring.

Wealth is boring. Yeah, yeah. I think that's a, what's his name's quote? A billionaire next door. Yeah, the best investing is boring investing or something like that. There you go. It's boring. Nobody wants to hear it.

When I tell people, they're like, man, I want to do flip. I want to do that. I'm like, dude, if you only knew, this is not where the money is, brother. It's in the holes. Yeah, absolutely. Absolutely. So what's your best source for off-market deals today? Off-market deals.

Matt, it's changing, man. As I drive down the street and I see this. People driving cars. I go to the urinals and I see people who have. Taking a P doing this, man. My perspective and outlook is changing, brother. I used to be the direct mail guy. I love direct mail, man, my postcards.

I'm cranking them out, letters and stuff. But now, man, I'm seeing, if you ain't living in that phone, man, I think you might have to be questioned as far as your business is running, you know? Mm-hmm. Mm-hmm. Do you use any particular apps or anything like that? That helps you out with that? Not really.

I just got introduced to an app today a few minutes ago with deal. deal machine is that you no but I just did a deal with the guy so we got a little relationship now so I think that's a fantastic app this is crazy

yeah it's talk about living in your phone I mean that's just back in the phone the way he's been able to leverage the technology and make it all personal and just you know

it's good this is crazy man you know what I thought there was no internet around it was you couldn't even pull console online man so people don't even remember

like pre-internet right I actually, you actually had to knock on a door, you know, you're going to talk to somebody, right? Let's see, what's your biggest win in the last 12 months and what did you learn from it? My biggest win, meeting new people, man. I'm at the stage in my life where I like to just plug into other people and just be the machine behind them or be like the money guy. You know, I've done enough houses. I don't care.

I don't know about you, but I could care less if I see another house. I mean, they all look the same. I always feel like anyone that says they love real estate. I was like, you're lying. You're lying. You've done enough houses. Yeah, yeah. It's what the real estate gives us, not the real estate itself.

Let's see what else I got for you. What do you like most about what you do? Maybe you just answered it. I don't know. Well, it's a time, Matt, I get to wake up, take my kids to school, go to lunch, eat lunch with them. I'm really a dog sitter, man. All I do is watch the fucking dogs old.

I mean, I got, you know, I'm, you know. I get to be here. My wife, you know, she takes off work whenever she wants. We go to the movies. I'm just so blessed. You know, what is really real estate is giving me the availability of time, brother. Mm-hmm.

Mm-hmm. I agree. It's irrelevant. It's just a byproduct of the value that I think that we both provide to our communities. That's right. What do you wish you could talk more about? What I wish I could talk more about? Yeah, what do you not get into the opportunity to talk about that you wish you could

talk more about? No one cares about. the journey of life, Matt. Tell me. The journey. Everybody's so caught up and I meet, you know, I coach people all around the country. They're like, I mean, I coached the guy the other day in San Francisco. He's like, I don't have the time.

I need to have this shit done by the end of the year. That's deep. Yeah. Because it's a journey, man. People like even fall, you know, even area in my life. I didn't even notice the trees turning colors in my town. Mm-hmm. I'm like, man, take the time to look around you and enjoy the beauty of your life.

And, you know, Lonnie Scruggs used to tell me that I never got it so as I'm getting older, Matt, you know? Mm-hmm. Mm-hmm. No one wants to hear about that. Right. I'm in the market for my mother-in-law's car just broke down. So we're kind of like giving her daughter's car. My wife has taken my car and I'm out to go get another car.

And I was like, what are you going to get? What are you going to get? And I was just like those things aren't nearly as important to me anymore. This is involving, right? Those Hyundai's are pretty sharp cars right now. They're solid. They got all the technology. in there. They get you from A to B. They got the good

gas mileage. And I'm like, that's kind of where I'm leaning towards, but everyone's encouraging me, especially the wife. No, no, you're a baller. You need to do this. You need to do that. I was like, no. The wife will get you. Yes. Dude, my wife picked my car. All I had to do go sign and pay for it, man. I didn't even pick it out.

I know how it is. Yep, yep. Guys don't drive nice cars because they like them. They drive them because the girls like them, right? Other people. Yeah, the other people. Guys like you, I mean, you're so secure in what you are, no doubt. Then, I mean, you're worried about,

I'm sure, you know, I know guys, man, they've been driving cars for the same 20 years, man. They carry a check in their pocket when they go to the foreclosure steps for two, three hundred thousand. You know, I'm like, these are guys. Right, right. Yeah, and sure, I mean,

after you can relate going to the music business when your income goes like this, sometimes you just want to be nice and flat so you can sleep at night. The car don't help me sleep at night. Let's see. What commonly held truth do you disagree with? Commonly held truth do I disagree with?

I don't want to say you got to work hard because you need to work hard. Time is money, man. I used to believe that, but I'm done with that. Time isn't money. Can you explain on that? Elaborate? Oh, yeah. Like before, I would say, well, I put a value on my time.

Now, I've seen it, Matt, where you can make money online. I mean, literally in a second, I've seen men make more money in an hour than some men were making a month. So it's like, do I think time is money? Nah, I think it's more like what you do with your time. It's more important. Implementation is money. I like that, Matt. Yeah.

All right. That's yours and mine. No one else can have it. What do you see happening in the market that excites you and how is it changing the way you do business? We're talking about real estate or business in general? Yeah, real estate. You know, as I matriculate, thank you, Hampton University. As I matriculate, Matt, I mean, you real estate is one thing, you know, I just think it's, I think it's overrated, man.

I mean, it's a way to place to hold your wealth for monthly income. I mean, I just think the internet is so much more exciting. And maybe it's just me because I'm new to the internet type thing. Is that maybe how it is, man? I don't know. Maybe. What are you doing on the internet? Man, this internet.

Fucking bar, dude, you go to bed. Wake up. Thousand bucks. I mean, it's like... Yeah, yeah. How long have you been embracing that side of it? Strong? Three months, man.

Okay. All right, that explains everything. I was going to kind of guess that. Actually, I knew it was the less than a year. I made that... You know, I did everything through real estate and did very well. And this is my story.

I escaped the rat race in less than four years and accomplished what most of the population can't do. doing 40 years. So that's been kind of my mantra for a long time. And, you know, when you start doing well, and you know this as well, that people start picking your brain, they want to take you to lunch, they want to buy you coffee and tell me how you did it and show me the way. Right. It happened. So it was probably 2000 or 10-ish, 11-ish. I was like, well, maybe there's something to this teaching thing, right? And boy, it's a whole other business all by itself, right? And so I get it, but it just turns into another business and now we're, we're steering back towards more real

estate, but, um, you got to put your money somewhere, Matt. You can't spend, you know, you can't go out there spending it. Right, right. But they can coexist nicely and they actually work well. I mean, if you're going to choose a mentor, you want to get a mentor that's actually doing it, what they're teaching. And they did it 30 years ago, right? You got some cool stories, bro. Well, I was, yeah, I was looking forward to this conversation. I kind of felt this might happen. What's something few, what's something that few, what's something that few people know about you that you wish more people did? Everybody knows everything on the damn internet.

They know all that stuff. You know what? Let me jump back. Can I jump back and then bring that? One of the philosophies that I got to fight, those who can't do teach. Those who can't do teach. That was the philosophy I lived by for a lot of years, years ago. And that's the one that I don't agree with.

When you asked me that earlier, no one. Yeah. That thought is incomplete because there's some. truth to it, but those that love what they do can't help but teach. Can't help it. Wow. That's deep, man. Yeah. Nice. Because I've been, I've struggled with that same concept before. Like, well, if I teach them, people are going to think I can't do. And I was like, no, but I love doing what I do. And I just can't keep it to myself, right? Wow. You heard that saying too. I remember God hit me with it. I'm like, I'm not going to teach this. I'm going to do it. Those that know will do. Those that can't do

will teach something like that, man. Yeah, those that can do, those that can't teach, right? That's it. But those that can't will do. Those that can't will teach. I hate, man, I struggled with that for so many years, man. Yeah. I mean, once you accomplish a certain amount, you can't.

And you enjoyed the process. You can't help us share it. But you're going to teach anyway, Matt, because people look up there's freaking calling you all day, every day, all day anyway. I'm like, dude, I might as well just charge you a dollar and then it's over. That's right. Boy, if I'd have known that too, back in the day, because I tried to learn everything the hard way. I didn't want to pay for anything.

And boy, what an acceleration of success that is when you just, I just read something. The name might come to me before then. There's somebody very famous, and he said one of his biggest regrets on life is, oh, it was Grant Cardone. He was saying that one of the things, if he had to go back all over, he says he has very few regrets in his life professionally. But if you were to go back all over again,

He would have paid more for access earlier to really accelerate his process. And I was like, wow, that's something I'm really holding truth to myself right now. That's right. Access. You see other famous or successful people, very accomplished people. Like, you know, they voice the thoughts that go through your head. So that's good. That's great.

My pleasure. If there were three guiding principles for your success, what would they be? The first one, brother's relationships, man. I just can't tell you. I can pick the phone up, man. If I get in a bond, I know somebody that will loan me some money. You know, if I need a ride to somewhere, whatever, man. If I need a deal.

But that has come, man, over time, brother. You know, these people have met, you know. And the other day, I was talking to him when he was like, you know, first when I met you, I did some research on you, I found out you was all right. So there's people that's checking you out, man, and they, you know. That's why you're here. Yeah. All right, number one, nurture your relationships.

relationships. What's number two? I was thinking about that too, private money, dog. I survived the crash. You've been to the crash too, right? 2007? Yep. Yeah, dude. I mean, without that, I would be, I wouldn't be here. You know, the people that believed in me, let me use their capital for interest for rate of return. I was able to, I don't even feel it really. I mean, we kept flipping houses and we held them a little longer, but private money,

if you ain't using private money in real estate, spanky, spanky. Okay. kind of somewhat connected to your relationships though, right? Yeah, I access my network. Yep, absolutely. You're right. Okay, so nurture the relationship, leverage private money. What would be numbers?

Number three is your philosophy, man, you know, like that philosophy, those who can't do and can't teach, you know, your philosophy will raise your, Jim Rohn said it, man, raise your or crush you. Got it. What philosophy do you live about? Do you live with the philosophy of leaving everything and person and place that you go to better than when you arrived? You know, that's like the philosophy that I live by. Whatever I go to, I don't leave this whole shit better, even the world better, that I'm here. You know, I want to leave, when I pass on, I want to make sure I left it better than when I arrived. I like it.

I like it. That's a guy, Ray Dalio, he's got the book, principles, very much along those lines, right? I got that one. Yeah, that's good. That's good. Hey, so if someone wanted to get in touch with you, what would be the best way for them to do that? Right now, as of today, which is going to change soon because I'm going to get 50 emails a day. Chris buys houses at Gmail, K-R-I-S, Chris buys houses at Gmail.

You can just shoot me email there, my brother. All right, but we'll do that. Well, this has been a pleasure. Let's do it again. Let's stay in touch. Yeah, Matt. All right. Do I need to ask you anything or I got to just be the giver?

Well, you can ask me whatever you want to ask me. I mean, I've been fascinated by people that not only that reach out to me online, right? I'm like, I know, I sense that you're an internet guy that you understand how the internet works. Tell me what? How does your days go? I have become recently. Yeah. When did that switch from real estate go over?

It was a transition about 2010. I wrote a book about my life, about first half of my life in the music business, and I crashed and burned. I was bagging groceries for six months and then raised myself back up through real estate. And so I wrote a book called Do-Over. And I started a podcast just to help me sell my book. Uh-huh. And all the questions that came in were all about real estate because that was a lot of my personal stories. It was about music or the real estate.

And so I started a second podcast around just real estate because I didn't want to abandon my dream of becoming the New York Times bestselling author. So I wanted to keep that separate, the book over there, right? But the real estate podcast just took off all by itself and it turned into a business without me even really, without it ever being my intent. And so then we just started showing I got wind of what a membership website was and you could put lessons behind there and then people would pay to get access to get in there. And but I would say it did not become equal to my real estate until it took me about seven years to get the education part to be a bona fide. income stream that was equal to the real estate. And so they're about neck and neck right now. But, boy, it's a lot of work.

If you're going to do both, your attention is widely dispersed, you know. But it's good. I love what I do. So it doesn't feel like work. So you got a scheduler all day. You got like Matt got to be here. I mean, I'm getting 30 minutes, I guess. And then you've got a 430 or 130.

Yeah, well, we're, I don't know if this is going to air the beginning of the year. So we're right here approaching the Christmas. So I'm kind of like on a weird schedule here through the day. But yeah, typically Thursdays I do all of my phone calls. Mondays, I meet with my staff and make sure that they're all straight for the week. Tuesdays is my 100% real estate day. Wednesdays is kind of a flex day. And then Friday, it'll be like half speed day and spend the time with my son.

Good for you, man. That's kind of what it looks like most of the time. That is sharp. Okay, man. All right, Chris. It was a pleasure. I'll see you next time. Talk to you soon.

Peace. Take it.