Epic Real Estate Investing - Entrepreneurial Growth and Real Estate Strategies with Cody Hofhine | 1436

Episode Date: March 4, 2025

In this episode of Epic Real Estate, host welcomes Cody Hofhine, co-founder of Wholesaling Inc., and now a key player in Joe Home Buyer. The episode delves into Cody's journey from starting in the insurance industry to becoming a significant figure in real estate wholesaling and franchising. They discuss the importance of personal development, economic factors influencing real estate, and Cody's perspective on the future of the industry. The conversation highlights the resilience required in entrepreneurship, strategies for growth, and the role of personal discipline. Cody shares valuable insights into how his current venture, Joe Home Buyer, supports franchisees with proven processes, marketing strategies, and personal development tools, aiming to cultivate successful leaders in real estate. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terio Media. Hey, strap in. It's time for the epic real estate investing show. We'll be your guides as we navigate the housing market, the landscape of creative financing strategies, and everything you need to swap that office chair for a beach chair. If you're looking for some one-on-one help, meet us at rei-i-a-com. Let's go, let's go, let's go, let's go, let's go, let's go.

Let's go. All righty, please help me welcome to the show, Mr. Cody, Hoffheim. Cody, welcome to Epic Real Estate. How you doing, my friend? Excited to be here. Yeah, man, it's been, we've got so many mutual friends, but haven't really engaged. So it's cool to catch up and see what you're all about. I'm interested. Hey, the first couple weeks ago when I met you, finally, like finally met you. I've known of you, though. I've known you my whole life. I've seen you do great work. I would say there's probably things that you've said that has kind of influenced even things that we did at Wholeselling Inc. I mean, you were a guy that we looked up to. So I've known you

forever. And it's funny that it's taken this long to actually meet. It is weird. But I'm glad it's finally happened. So nice to see you again. And subject to conversation for everyone I cross paths with, they're like, what are you excited about over the next four years? Who? Right now is kind of the backstory to catch us up today in real estate. But we got into wholesaling ink. Me and Tom co-founded back. grew up. 2020, I parted ways. I ended up selling my rights to that. Tom sold shortly after. And now Brent Daniels was the loud voice of TTP, such a good owner, rightful owner of that business. I love Brent. We still do work together today. He's actually one of our franchise owners. Yeah, he was on the show a month ago or something. Great, dude.

I love Brent. Like that guy brings energy that is like so hard to beat. So fast forward today, we're doing Joe Holmebuyer, which has been a franchise. So basically they buy into our blueprint a process that teaches you not only the marketing and the acquisitions, the dispositions, then really deep dives. It's funny that our mission has nothing to do with real estate. It really is growing leaders that then go out and grow a thriving real estate business. And so we're really big on the personal development side as well over and above like the proven process strategies that work with real estate. So I'd say, yeah, for the next four years, that's going to continue to be our focus, our growth and our future. And it's been so. I don't know if you strategically dodged

the question on purpose, but no, I just think of you have a whole new administration. Do we think that's going to have an impact on our business? Is it changed any thing how you're doing going about business? Are you excited about it or indifferent? So maybe I'll underwow people. I guess, like, yes, is there like an excitement around the economy now? Like, absolutely. Like, there's an excitement around the economy right now.

I don't claim to know Bitcoin or any of the cryptocurrencies, but it's like I met some experts that taught me how to invest in certain things. I've seen those skyrocketed and those were just flatline over the last four years. But at the same time, I'm the kind of guy that's always like, over the last four years, I woke up every single day, went to the gym, created great content, took care of my people, went and did business the way I do business, had family time, went on vacations. And the day when we found out Trump's going to be president, I still have to wake up every day, go to the gym. I still have to go and create content. I got to serve my people, do business and take care of family. So for me, I'm not too focused on what the government can do for me in the first place. And I think that's an entrepreneurial mindset for all of us entrepreneurs. But for whatever reason, now, let's think big picture. I think there's an excitement. I do.

I do think there's an excitement. I think there's some energy that hasn't been around for four years. And it's, yeah, I think there's going to be some great times to come. I really do. Yeah. I'm hoping. You just brought something up that was actually a pretty faithful listener, toned down a little bit for probably a decade.

I listened to the Adam Carolla podcast forever. I mean, just not. Oh, I haven't heard of him forever. And I freaking love that guy. I know. I love his show. I love his show. I mean, he's like one of the original.

He's in the Guinness Book of World Records for the most downloads or something like that. But I'm sure Joe Rogan has overtaken him by then, by now. Oh, I can say either that or even Dave Ramsey, right? Yeah, right? That guy's a beast too. But he had said something a long time ago, and it made me think for the rest of my life. He said, you know, if you were just to be dropped at anywhere in time in the last 100 years and not being allowed to look at a newspaper or watch TV or anything, you would have no idea which party was in office at the time.

you'd have no idea, you'd have no clue. And it just is so dominates what we think about these days. Everywhere. Social media has made it too easy for like, I don't know, love it or hate it. I'm more on the side of, hey, I love it for what I use it for, but it can be the biggest time suck,

biggest distraction out there. And I think maybe this is a, even maybe too far negative about social media in general. But I think it can drive a lot of our fear and anxiety that exist in our nation. I mean, people read stuff and they don't even fact check anymore. They don't even look for their they aren't trying to believe for themselves.

It's like, oh, so-and-so said this. I'm like, come on. My boy the other day said, did you know they're making iPhones for a dollar? I'm like, come on, dude. Like, come on. Like, we're not listening to Instagram that they're making a phone for a dollar. They're so only for $1,500.

It's because they're not making them for a dollar. Like, dude, you've got to do more than just Instagram. Probably closer to $1.500. But, yeah, for example, and the reason I'm paying attention to it, because I've been on a news diet pretty much since the last, election. You know, it was okay in the beginning and we were doing well, especially like with our turnkey operation, you know, because it's, we're called cash flow savvy, right? So it's hard to be

savvy about cash flow if the payments keep going up, right? So it's, yeah. And so that is slowed down and it's starting to pick up and I think like we're kind of hitting a new normal, like a new bottom, right? The bottom is reset itself. I'm kind of looking forward to like maybe those rates coming down a little bit. Sure. I kick in the business up that way. I don't know. That's one aspect I can see potentially.

But it seems like the interest rates and the Fed, what they do, it changes every day. Changes every day. Yep. I almost feel like you have to just wake up and go to the norm and go do your thing and take care of yourself. No one's going to take care of you for you. Ed, my let, I want to say it was just recently on a podcast. I want to say I took notes on it.

But he basically said, gosh, it was worthy of a sheriff. I found it quick enough. but he just talked about like 10 things to stop doing. Listen to this. Stop speaking negative about yourself. All right. Like we could all use that. Stop worrying.

It shows you lack faith. Stop waiting for someone else to save you. Like how perfect timing is this. Stop expecting it to be easy. Success is hard. Stop expecting support. So he just said some of these things that were just like so crucial. I think he said perfect timing.

Like, guys, no matter who's going to win this next election or what the next four years looks like. stop waiting. Like, stop waiting for the perfect time. There is no perfect time. Stop waiting for someone to save you. No one's going to save you. You better save yourself.

And that's just a good principle to live by. Agreed. Agreed. When we deal with our business and whether, just in the world of investments in general, so much of it is dependent on the moves that the powers that be make. So you can't help but look at it. But I agree with you 100%. We chose a business where it's kind of important.

We got to know how to play it because, I mean, every four years you're dealt a new hand of cards. And it doesn't matter if you like the dealer or not, you still got to play the cards. You're dealt. Right. That's exactly right. And there were things that changed, right? I don't know if you ever did the cost segs on all of your rentals and things like that. Like, it was awesome when Trump was in. I mean, it was 100% year one cost seg. And then over the last four years, they started decreasing that by the 20% increments. I mean, I want to say this year was like, wasn't it 60% or 40% of your cost seg? So you didn't even get the full depreciation like you, you used to, like that used to exist. I mean, there's things that you're like, okay, we just got

dealt the different hand than what it was the prior four years. But it's like you said, okay, then I've got to pivot. Kevin O'Leary, the Shark Tank, right? Mr. Wonderful. He said something interesting on an Instagram post. He said the number one characteristic of the best entrepreneurs he knows is the ability to pivot. He basically said, whatever game plan you write, there's never been a business that followed that game plan to a team. Like, you have to pivot. The only thing that's guaranteed is change. And if you don't know how to pivot, that game plan means nothing, you're going to sink like a shit.

Everyone's got a plan until he gets socked in the mouth. Mike Dyson. And we just barely saw him fight old Logan tall. That was sad. He actually did at the end. He really looked like an old man. He did. Well, he looked like an old man walking out. I was like, oh, he's looking for ill.

Like, I think he tripped a little bit. Did you see him stumble a little bit? Yeah, I saw that. I mean, his feet are sore. His feet are, they said he has the worst feet. Like, he can barely walk on him. Yeah. But, yeah, he did look old eighth round. I was like, oh, like, he almost looked like confused a little bit.

Yeah. I don't know. I was just reading this to my, our Joe Homebuyer franchise owners today. We did our Thursday personal development call and we do a 30 minute call every Thursday. And today was just talking about how we're reading the compound effect. And 2009 Sports Illustrated come out because there's the topic in the first chapter of compound effect. Nothing fails like success.

And I used to think it means to be successful, you just got a fell a lot. That's how I always interpreted that quote. But really, it's once you're successful, you see a lot of people drop off because they stopped doing what got them to be successful. They stopped doing those habits, those principles. And you see that 2009, there was a interview by, or not an interview, an article on Sports Illustrated. In 2009, about the NFL, 78% within two years of retirement are in bankruptcy or like severe

debt, like severe. financial crisis. 78%. There's only a 22% chance. You're not part of that category. And I just sit there and think it's because they stopped probably doing what made them successful to get to the NFL. It got comfortable.

And most people, when they get comfortable, they kind of back off the things that made them who they were. The compound effect. Who wrote that? That was Darren Hardy. That was what's unique about that book. That was my first book I read in personal development. I'm 41 at 30, like 30, 31 years old.

That was the first book. That's what got me into personal development. I saw it at a guy's office and he says, can I gift you this? And I'm like, sure. And I read it. And then in the first chapter, it talks about the slide edge. So I think it's Greg Olson. That was the second book I read.

And I noticed like good authors always recommend the next good author or reference some good book. And so I just kind of daisy chained from book to book whatever they referenced. I'm like, I'll buy that next. Yeah. So that's kind of my dream. The light edge was actually the first one, right? That came up before the compound effect. It did come out before.

And I read it second. It was like those two were, and they're almost. kind of hand in hand. Yeah, I think they're the same thing. Yeah. But had him on the show. And that was like, oh, did you?

That was a treat. Yeah, because that's one of my top four books of all time. I think it's the ideal companion book for whatever it is that you want to do. Right. Agreed. I mean, if you're going to be a professional tomato farmer, you need the slide edge, right?

That you're going to. Agreed. It's just a great book. And I was telling him that I was like, you should just sell this as a bolt on to every book in the bookstore, dude. This would be like, Yeah. He's like, why, I never thought of that. So I was telling himself about his book that he didn't even realize about it.

I was like, give it what to do. This had a big impact on me. So great book. So here's my four books. Let's give what yours are. Okay. Awakening the Giant Within. I love that.

Ooh. The thick, Tony Robbins. The thick one, though, because the audio book isn't totally different. You have to read it. There's that one. Of course, Rich Dad, Poor Dad was life-changing and transformational. And then the slight edge was the third one. And then the one, the new one to my repertoire just in the last,

probably about three years ago, four years ago, was profit first. Oh, Mike McCallowitz. Yep. Had him on the show. You just barely got into that when you say? Yeah, it was a book that I felt like, well, I understood. It's just going to be a book about paying yourself first. I don't really need to read that.

Like, I just basic. I don't need this basic stuff. Yeah, like the title was like a spoiler almost for me. But I had enough people that I really respect said, you have to read it. You have to read it. Yeah. I was on a trip from Los Angeles up to Oregon. and I just let's do it all in one road trip.

And gosh, I was like, if I had this when I was in high school, how different life could have been? You know what I mean? Yeah. So what are you? I'm going to say definitely one recently, and I now am reading it for my second time.

A lot of authors I go deep with. So the first one is that eight forms of wealth. That's Robin Sharma's newest one. So instead of just us always being focused on money, this one kind of talks about, no, there's eight forms. And I think money's number five on that eight, actually. So that's a really good one.

The second one I would put out there as I really like the slight edge. Like that was a game changer for me. That was a really big game changer for me. The third would be, I would say the 15 invaluable laws of growth by John Maxwell. Okay. He talked about some awesome principles there. He just recently spoke to us at an event together. So I really look up to that individual.

And I would say the fourth one would be the rhythm of life, Matthew Kelly. I mean, you got a bunch of deep pulls here. Have you read Matthew Kelly's The Rhythm of Life? Nope, I haven't read any of these. Oh, except that's right here. Okay, I don't want you buying that book. We're going to talk after this podcast. I need your address.

I'm going to gift it to you because it's one of my favorites. It's such a good book. Okay. It's that good. All right. Well, that's awesome. Sweet. So personal development.

When did you get bit by this bug? This would be about 10 years ago. So I was just one of those guys that got into entrepreneurship. I mean, I was probably, well, 2010, so I'd be 14 years ago. So I was 27 years old when I got into it, starting the insurance agency of all thing. But all of it connects the dots. Like everything had to happen, the journey had to happen, your journey had to happen, the highs, the lows, everything, because it's what stacked us to where we are.

Insurance is how I met real estate agents. That's how I met real estate investors. I was going to these local real estate investor association meetups simply to hear people say, hey, I've got four rentals and I'd be like, four policies, like, let's go. I'm going to go meet this guy. I never once, I mean, from 2010 to 2015, I went to these religiously every single month, not even listening to real estate. All I did is listen to how many policies can I sign up. Right. And so that's what I did. And as I was going to these meetups, I noticed there's a couple things in common. A lot of them read. When I'd go visit them at their office to talk about insurance, they all had like these little libraries in their office. Or if I met them at their home, they have this home office. And that was something that just stood out. And then a guy named Josh Christensen, I'll never forget.

He says, I want to gift you this book. And that was Darren Hardy's compound effect. And from there, I came home and read. My wife's like, well, I want to read it too. And I was like, okay. And so she actually reads just as much, it felt more than me. And it's been awesome to do it together as well. That's awesome.

Was he an insurance guy? He was not. He was one of the investors I was insurance. So he had a construction company. He had about 30 doors. And then all of his fix and flips I'd insure. And those were like the gateway. insurance drug where you could like do it, but they're awful policy. They're on the books for

three months and off. So it's always like starting at zero. There was no residual. But that's how you'd get in because we had a product that was the number one fix and flip product with the best pricing on it. And they only made you do three months versus most companies were making you pay six months fully earned. And so that was my in and then I'd go out there and get all the rest of the stuff. Got it. So that was your end to real estate? Was that relationship? That was how I connected myself with real estate investors. And then it wasn't until fast forward 2015. I'd come home early from work because I was working long hours. It's a game of stacking bebies. Like, it is hard to make money. The goal is wait to your 80 and you'll have so many residuals. It's great. But it's like,

I don't want to wait until 80. Like, I want to go on a trip now. And so I was watching these people do it. And you probably know, do you remember an Andy McFarlane? Oh yeah, of course. Fantastic human being. I insured all of his stuff. So he's standing up. Well, I give home early from work to surprise my wife, she surprises me. She's crying at the table. And she's wondering, how do I either put food on the table with the leftover money we have or do we pay this month's mortgage? Like, it was still that bad five years into insurance. There was a couple months that were still so slim. Coincidentally, not coincidentally, the next day I'm at a real estate investor association meeting, but a different set of years because I just saw my wife crying, worried about finances, and that's on me.

And so I go to this investor insurance, this real estate investor association and Andy McFarland's presenting. He's like, I just found this deal three days ago. I wholesale it to Randall and I made 27,000 bucks. And I'm like, what? And they've been saying this for five years, Matt. Like, they've been saying this. I haven't heard one thing about this. And I'm like, what is this concept?

So I go learn from him for just a second, talking to him afterwards. And I trusted him because I insured all this stuff. So I saw his numbers. Like, I saw the stuff. Yep. And he kind of just gave me the basics, but didn't give me everything. And I went out there and fumbled my way through. and 39 days after that day.

Like 39 days after that meetup, I go and do my first real estate deal that pays me 24,000. And that's when I was like, oh, my gosh. Like it worked and it changed everything. And I just went all in at that point. Tell me about the first deal. The first deal? Yeah.

How'd you find that one? Oh my gosh. A bunch of tears. And what I did is I was knocking while I was waiting for mail to go out. So I'd heard about this mail piece that says, God bless at the bottom and all this stuff like that. So I got a credit card. I'd wait for the mail to come in with a credit card.

I mean, this is how bad it was. I still didn't have anything. So I'm like, I'll get the zero percent interest credit card. Had like a $7,500 limit. I spent five grand with a company called 3D mail because I'd heard it on a podcast. And I'm like, I'm just going to call up this person and say they were using you. And there's a card out there that says, God bless. She's like, yeah, I know what's one it is.

So I get together a list from a title company. They gave it to me free because I said, hey, I'll bring all my business to you. Right. And it was actually, it was a. pre-foreclosure, and they had access to another list, and it wasn't pre-poreclosure or something else. But anyways, I mail out over two weeks, a ton of mail. In 2015, you could get away. Five thousand was a long ways back then. Now it's like you can't even get a deal off five grand. But we sent out this mail and I'm just in between. I'm just like knocking doors, just stumble on my way. Like, if I'm going to sound like an idiot, I'm going to sound like an idiot at this door today. I'm not going to sound like an idiot when this nail comes in. And so once the mail came in, it was in Murray, Utah. and I still remember going over there knocking on the door and this individual opens the door and I'm like, oh my gosh.

And I say the name. It was my person I insured. So I was like, oh my gosh, I'm the person that came to come look at your house to buy it. And it was like, oh my gosh, this is too not coincidental. And they're like, we have to get out of here. Like it's bad. It's really bad. I have to be gone in next 13 days.

And I'm like, hey, we'll figure this out. And I had no idea, Matt, what to do. I just barely learned about this 39 days ago. I wasn't even an expert. Like, I'm far from it. But I'm like, we'll figure it out. I called Josh, the guy that gave me the book. I'm like, hey, what do I do from here?

He's like, go on and do this. So I go out and do that. And it just stacked up and 39 days into it. I get my first $24,000 payday. And from there, it was game over. It was so weird that it was the person I was insuring. I mean, what was the chances of, A, ensuring them and B, ensuring someone that was in a distressed situation.

The numbers just don't make sense. Right. He works in mysterious ways. He works in mysterious ways. ways. He did. And that is a truce. So that's 2015. Here we are almost 10 years later. You've gone through full-time real estate investor to educator trainer and now your franchise owner or franchise distributor, I guess. That's right. So tell me about Joe Homebuyer. What is that like we sell out of the houses type thing? So I guess it was kind of a monopoly, right? I mean,

home investor was pretty much the only ones got out there for years. And their strategy is a little bit different. I mean, slightly different than ours. So they can do from anything, they try to teach them how to do fix and flips. Fix and flips are gutty game to try to teach people. There's no way to process it where it's vanilla in every state you go. Like it's one of those things you can't vanilla. Wholeselling is definitely different. So we do teach them all the strategies. Wholeselling, we do teach them fix and flip. We do teach them what it looks like to have a great opportunity for a long-term buy and hold. We do teach the wholesale strategies. And then we've teamed up with great industry experts. You got like Pace Morby. I think he's probably one of the best out there for

creative financing, sub two, raps, seller financing. Really, really good. So we have these industry expert. You have Jerry Norton that does really good with on market with like agent deal domination. Well, all these individuals, Brent Daniels with wholesale leading, Brent Daniels owns one of our franchise. See, he's also a voice in Joe Holmberger that is able to coach speak from our stage at our conferences. Jerry Norton owns 10 of them. And so he comes and speaks from the stage. He adds value to our portal and all their trainings, dear friends with Pace, all the great voices out there. It's kind of like we've collaborated with this incredible people that build out these master classes, we're named Joe Holbeier, but then backed it with some of the things that a lot of

people are missing in this industry is you'll see a lot of people make money. That just happens. Real estate's a great place, I think, to make good money. What a lot of people don't get is time. I think a lot of people get into it and they learn to make a lot of money, but now they're actually losing time. Instead of going to a nine to five job, yes, making less money. now they're making more money, but they're working nine to nine because they still haven't

thrown out this growing a team, hiring the right team, delegating all these skill sets that are more than you being the person wearing all the hats. And that's one of the hardest things people have is scaling. They can't get outside themselves thinking they're the best at everything. And so we have a tested, true step-by-step process that they tap into that allows them to hire the right people, attract the right people. But part of that is just there's some processes you don't fix. a crappy leader, our process can't fix a crappy leader.

But what our process can do is get the right training for that individual to become someone better. So like the old adage of Jim Roney said, rarely does a man's income exceed their level of personal development. So we really are big at personal development and helping people become a leader who in turn attracts A players. Because A players don't want to work for C leaders. And I think so many people get frustrated when they have C players. I'm like, it's just a reflection. Look in the mirror.

Right. It's great. So how many of those franchises do you have out there? So we're right around 95 nationwide. What's maybe a little bit uniquely different for our model and maybe other models out there is we're not looking to sell 1,500,500, 2,000. We're not looking to oversaturate any markets. There really is a rhyme and a reason how we do it to grow with the right people. I would hope one day and it's not there, so I don't want to proclaim this, but this is like the goal.

The goal is to be like the chick filet. where you have people banging on your door, like, how do I do this? And there's like an interview process and say, it doesn't work. Yep, it works. Doesn't work, doesn't work, doesn't work. And it's not to that point.

But we want to, we really do protect the culture. We don't just want anyone to be in the franchise system because culture is everything. I mean, you have a culture that's specific for who you're coaching. It's not like Matt Terrio's going to just coach anyone, right? Because we know that can also hurt the brand. It can hurt the other community that we're raising.

And it's like, man, this one bag egg is going to ruin this whole thing. we don't kick them out. So we're really protective on that. And in doing so, it is a slower growth. And it's not anything to take lightly because there's a royalty structure as well. And so people have to be committed to know that, okay, X amount of my deals is going to corporate. And so really, looking for the right fit. But usually it's our sweet spot is those that have done between a handful of deals to maybe a quarter million dollars in revenue a year that are just looking to break that ceiling because there's so many, I hate to see that. I mean, you've probably seen this too, Matt where they give up, where they're like, I got to just go back to a job where I can have at least

consistency of working nine to five. I don't care about money anymore. We know that. Money doesn't buy happiness. But if you could still do real estate that does make you a lot more money than working for corporate America and do it in a way that does give you time back, wouldn't that be pretty sweet? And that's what we really wanted to do when we built Joe Holbeyer. Got it. So is it just education and systems or is there something else that they joined for a competitive event? Yeah. I mean, think about for everyone's kind of different. I thought it'd be like, I thought it'd be like the same answer for everyone. And every time we're asking, like, why did you join Joe? We're like, oh, with that, that's like, some of them say, oh, I like it for the community. Others are like,

I didn't come to the community. I came so I could be on a call with the best of the best every single week. Like when I needed to get a deal over the closing line, I could pick up and call to the acquisition line, or I could call and talk to Cody or talk to Mark over this. Other people are like, I came here because my marketing was just all over the place. I didn't know what to do. And only marketing channel I had was direct mail and I didn't know anything about PPC. I didn't know anything about PPL. I didn't know anything about all these other channels. And then on top of that, just the connectivity of all these third party vendors. So all of them give very steep discounts for all of our franchise owners. They're able to tap into all these third

party vendors at a great rate because they're doing that. Here was the thing I undervalued or maybe didn't see at the beginning. I just really was in the heart for how do I help people scale their business to seven figures versus being stuck in the six figure zone that so many get stuck in. And what I didn't know was when we would start selling these things nationwide, how much rich data we'd get to see because we're all on the same platform, the same Salesforce CRM that was custom built out for us, that we can see real-time numbers, what marketing's working, what's not working, when there's a dip in everyone's market versus when there's a rise. And we're able to see things real-time. That's probably what I undervalued. And that's probably

the sweetest thing is we just talked about Kevin O'Leary saying the biggest thing to do is pivot. There's things that we get to see, I think, that when I was myopic and I only ran my own territory for myself, you only get to see micro, right? But we get to see on a macro, we get to see on a big scale what's happening. And it's allowing us to make pivots quicker than the market even knows what's happening. We knew we have an economist that sits on our board of all things. When people are like, who's in your circle? We have an economist. Has nothing to do with real state. He's like, I'm an economist. We're like, hey, anything we need to prepare for. We're sitting on one of our board meetings. He says, hey, this third quarter, and this would be, when did the rates go up?

Was it 21? Yeah. That's a drive? It's not taking up. 21. They take the hike. He comes to us in February. He says, come third quarter, these rates are going to go through the roof. Start figuring out a pivot on how you're going to sell people because what's going to happen is the same thing in 08. And we did see it. He's like, all the cash buyers, it's going to be fight, flight, but it's going to be the third ass freeze. They're going to just say, hey, I don't want to happen. What happened, 08? So I'm freezing. I'm sitting here on the sidelines until I see what's going on. He saw this eight months in advance before it even happened. He was already seeing it. And he's like, you've got to figure out the process so that you can keep selling. You can't allow money to freeze.

So what are you going to do? Well, our process, Matt, was we were doing like an email, a text. Like, you didn't need a salesperson. You got a hot deal. You just sent it out and 20 eyes were like, I want it. Right. And it was like, they go out and bid it up and you make the most money on each deal. come 21 third quarter, far from that. We had to put a salesperson in that seat. So McDonald's,

they sell happiness, right? They don't sell burgers. They don't sell cogs. They sell a Coke and a smile. They don't sell just a meal. They sell a happy meal. It's the number one sold mill in the world. They're selling happiness and they're doing a great job at it. Their burgers aren't great. Any one of us could, with our eyes closed, make a better burger than McDonald's. But they have a way to sell happiness. So we had to sell happiness. We were already prepping and shifting and making that shift where we're already trying and people are like, hey, I haven't heard from you guys in a long time. I know, just wanted to connect with you and see how things are going. What homes are you looking for? How can we help you? And then when it came the rise of the

rates, when it went freeze, we were already doing what we were doing for eight months. We were like, hey, did you see the home on one, two, three main street? And they're telling us, no, with what's going on. I don't know if I'm going to buy. Dude, Matt, we've been talking a long time. Dude, this is your sweet spot. You're going to want to go look at this home. And there's not much competition on this one. I think this is one worthy of you going to look at. Okay, I'll go look at it. And we unfroes money by just having a salesman sell happiness. And it worked for us. And we were ahead of the game because we were able to see at a national level and have an economist sit on a board talking to us. Cool. So what do you see right now on a macro level?

What are you excited about over the next few years? Yeah. I think there's going to be a lot of continuing shifts going on. We're already seeing, do you know what, the PPL, the paper leads, all these companies going up, there's now regulation that's coming to court and a hearing in January that could change if they're even going to be in existence or if they're going to have to do what cold calling did and have all these different regulations come out. We see regulation changing all the time. We see states adopting where you need to have a license. So we're well aware of that and ahead of that. A lot of the franchise owners are that I still to this day am not. but I think what is going to be something unique that we'll do is ultimately Joe Homebuyer will be a brokerage at some point so that there is that side, the listing side.

But I don't know if I see anything changing too drastically. The beautiful thing that I've always found, at least in the last 10 years, and I hope it continue to be true, and everyone I talk to continues to see it the same way. And that is no matter what the industry is doing, whether it's going up, going down, where the bulls awake or the bears awake, at the end of the day, someone is going through a hard time that needs great service brought to them that needs a solution. There's always going to be a distressed situation or a distressed person that needs our help, that needs someone that can come in, provide real-kind solutions. I don't see that going away. And I know a lot of people like, what about this?

Like AI taking over. I don't think AI is here to take over people. I think AI is here to enhance people. I use AI all the time. I used it today on, hey, what should we name this title? I went on AI and chat GPT. and they came up with all these titles. I'm like, bro, look at this one.

I showed my business far. He's like, dude, that's it. Did it replace me? No, it enhanced me. And I think so many people are thinking it's going to like just replace you. I'm like, yeah, but no, cars are driving out of the self. I'm like, how many people are using this service? Like, we're not guys.

It's not going there forever. Like, people still need that human to human connection. We're meant to connect. God made us to connect. I just don't see that being the biggest problem that some people are really focused on right now. AI enhances. It does not replace. Yeah, you know, it doesn't matter.

where you're from. Life comes and kicks everybody in the teeth every once in a while. What's been one of your biggest kicks? You've been in this game, I think longer than I have. How long have you've been in this? Yeah. So this is what year, I started 2002. So I was an agent from 2002, 2006. And then I was full-time real estate investor. It's about six months before the bottom fell out. You've been through, so I didn't been through like a crisis like you went through no wait. Yeah. So I'm sure there's things that you're seeing that you could probably tie to it. I wasn't through that time. Yeah.

I think, you know, that was a good lesson. I've been reflecting on that a lot and just had a little bit of an epiphany here just recently on that experience because 2007, eight, nine, and ten were probably amongst my best years ever. And I think it had a lot to do with me not knowing any better at the time. Yeah. I didn't really know like, oh, this is a bad crash. Social media was non-existent, so it wasn't like some good news or bad news just

plaguing you. Yeah, but it's not like it doesn't get spread nearly as fast. There's a fancy word I was looking for, but I forget it now. But the stock market crashed today. Like, I'd have to wait back then. I'd have to wait until I got home and watched the TV to learn. That's so true. Yeah, and today is like, oh, shit, five alarms just went off on my phone and panic.

And so I think at that time, I think what the market is really going to be dependent on, like I've always said that, you know, the interest rates are the big variable, right? Yeah. I think based on supply and demand, I think the market is very healthy for appreciation. And I always say in the interest rates, but I think even more so, and I learned this actually a lot from multiple different sources because I do on my YouTube channel, I do a lot of research for some of my videos. I go really deep and learn about all kinds of stuff.

And I look back at the recession. I've looked back to the depression. And I think about 2008, my personal experience, I'm looking about now, public sentiment just drives the whole damn thing. Like when you were just talking about, you know, you're going to fight, flight, or freeze. It's like, people froze. That was the public sentiment at the time. But life still went on. People still bought houses and people still made a bunch of money. If you bought a house in 2021 when you thought them was going to crash, it's worth more today than it was then. And you froze and you didn't

do anything. And now you wish you could go back and buy a house then. And I know that that's going to be the situation of right now. You're going to be like, damn, I shouldn't have stopped and waited to see what the election was going to do. I should have kept on moving. And they're going to say, prices are going to go up. Yep. I shouldn't have waited for to get past Thanksgiving. I shouldn't have waited to get past Christmas. I shouldn't have waited to get past New Year's. You know, I'll start fresh in January, right? So just those types of things and you look back, buying a house has never been bad advice. Ever. Ever. Just selling it has, right? But buying it has never been bad advice. And so that's what I just see it. I thought,

you know, maybe 10 years from now, I think people will be like, oh, wow, Cody, you own a house? Wow. How'd you get that? You know what I mean? Like, it's going to be such a special thing called home ownership. Yeah, I think we're going towards a nation of renters. I think it's going to happen faster than most people think because we've got more people than houses. Affordability.

Right. And we've got the immigration thing. That's 12. Well, I guess we're going to get rid of some of those people now, apparently. Sure. But that's still 12 million people that came over depending on those numbers. But that's a lot of people that we don't. We need rules for those people, right?

That's right. Then you have the corporate competition. And then you see, you know, black rocks and black stones of the world doing what they do. and then you see Jeff Bezos come out of retirement and all of a sudden he starts a single family fund. And he just switched all this thing at Amazon. Do you see it switched over to XRP? Oh, I did not see that.

If you're into like this crypto stuff, I'm like, this is nuts. Like I bought a bunch of it. Not a bunch of it when I say this. It was like 50 cents a share when I bought like nine grand worst. And like overnight it shot to a buck 23. We're not talking massive money. But they're saying because of all these shifts, it's going to go to like $1,000 a share.

share to up to $10,000 a share. Is that what it is right now? It's at a buck 23 when it was literally just 50 cents. Like I'm talking three months ago, four months ago. Or weeks ago. Three weeks ago. Yeah. Yeah.

And so Jeff Bezos just put a, I mean, I just saw a post on Instagram how Amazon just clicked over to the XRP financial system. Wow. I mean, we're just little clicks away from all these things dialing in. I mean, long gone are going to be the days of a $30 wire. It's going to be a fraction of a penny. because of XRP. Yeah.

Wow, I didn't even know that. Damn. Interesting times. I was a multi-millionaire in 2021 because of crypto. There's another wave coming. I got too big for my britches and yeah. Uh-oh. Well, hey, there's another wave coming.

I hope you're in this one too because there's another wave coming. Yep. No, it'll happen again. And circle back, I mean, if you don't know about crypto or you feel like you're behind, I mean, I've said this for the last 20 years that, you know, real estate, it's the final frontier where the average. person has a legitimate shot at creating real wealth. And I think this window is about to shut too.

What's the saying that a rising tide lifts all boats? And I think we're going to keep on rising. You better get some damn boats in the water else you're going to be really sad here in a minute. Yeah. I don't know it comes by with an arc to jump on. Yeah. Those are my thoughts for the future. But anyway, Cody, if someone wanted to get in touch with you, what would be the best way for

them to do that? Yeah, Instagram is my best. and then it's actually me doing my DM. So if you ever want to have a question or you want to say a side chat, go to Instagram, it's Cody Hoffine. Look for the blue checkmark.

There's plenty of fakes out there. And then Joe Homebuyer franchising.com is another way they can learn more of what I do. So I should unfollow the real Cody Hoffining? The real Cody Hoffman is not me. That's not you? Okay. That's not me Cody Hoffine with a blue check mark.

Very good. Thanks, Cody. Let's stay in touch and talk to you soon. Matt, you're the man. Thank you. Take care. Bye. And that wraps up the epic show.

If you found this episode valuable, who else do you know that might too? There's a really good chance you know someone else who would. And when their name comes to mind, please share it with them. And ask them to click the subscribe button when they get here and I'll take great care of them. God loves you and so do I. Health, peace, blessings, and success to you. I'm Matt Terrio. Living the dream.

Yeah, yeah, we got the cash flow. You didn't know home for us. We got the cash flow. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.