Epic Real Estate Investing - From Firefighter to Real Estate Investor - A Skeptical Man's Journey | 607

Episode Date: March 12, 2019

From firefighter to real estate investor - a skeptical man's journey is Glenn Hazard’s story of why he approached real estate very suspiciously only to realize that it works and that avoiding it due to fear was a waste of time. Today, Glenn is sharing how he acquired his properties and talking about family, money and other challenges he bridged to get where he is today. Learn why he was skeptical, how he chose the properties he bought, and why he recommends turnkey investing. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. So you want to be a real estate investor, but you don't want to do the work. If there were only a way where someone else could do it for you, now there is. Tune in here each and every Tuesday on the epic real estate investing show for Turnkey Tuesdays with your host, Mercedes-Torres. Hello and welcome, welcome to Turnkey Tuesdays. My name is Mercedes-Torres, and I am lucky enough to be partners in crime with Mr. Mr. Matt Terrio, the gentleman who created the epic real estate investing empire.

Today, I want to talk to you and share an amazing story. But before we get into this, I want to welcome our listeners back to our show. If you're listening to us again, welcome back. Glad you made it. Make yourself comfortable. And for those of you that are new to listening to Turnkey Tuesdays, this show was created specifically for busy professionals who are interested in diving into real estate investing, but don't have the time or the desire to learn all the nuances there is about real estate investing. So I created this show so you can jump right in and perhaps piggyback off of a turnkey real estate investing company that could help you seek financial freedom. So that is the whole purpose of Turnkey Tuesdays. Welcome on board

if you are just now tuning in. So first and foremost, I want to give out a couple of shoutouts to my friend, Mr. Dylan Peters. Dylan is an old friend of the show. He's been around for I think about four years and he has recently acquired eight turnkey savvy properties. Now, if he or if anybody is the definition of financial freedom, it is him. He originally lived in Northern California and decided he wanted to take a hiatus and he took all the cash flow of his real estate investments and decided to travel to the Philippines. He is wandering the world in the Philippines for a whole year. I think right now he's down under.

He said he was going to be in Australia for a little bit. But kudos to you, Dylan. I know you listen to us all away from Manila or all away from Australia, wherever you are at this week. Congratulations on your eight properties. I know you've got two coming up that are closing relatively soon. and I know that you are there and we're going to make this closing as easy and smooth as possible. To our new acquisitions, Josh H from Southern California,

just closed on two awesome properties in Indianapolis. James H. One Birmingham property. Congratulations, buddy. Nestor and Lori. Welcome back to the real estate queue, the VIP queue. I know you're purchasing property number three. And long and behold, I'm going to have you on this podcast, guys. So I'm coming for you.

And then I also spoke this week to Victor Lopez and Kevin S. I really hope that our conversation was meaningful, impactful, made a difference. And whatever it is that you choose you do, I really want you to really go after your financial freedom. So on to our show. Today I have a very special guest. I often say it that our guests are special. And the reason they're special is they become friends of ours. Now, our guest today, his name is Glenn.

Glenn is a veteran. He is a Marine. He served the Marine for a very long time. I believe he even served Destor's Storm. He then jumped into the National Guard. And now he is a firefighter. He's actually been a firefighter for 20 years. And when Glenn first reached out to us,

he was referred to us by Robert Kiyosaki himself. Kiyosaki turned him over to our turnkey operation. And long and behold, Glenn was skeptical. I mean, if you're talking skeptical, skeptical is not even the word to describe him. He was ultra skeptical. And he started a conversation saying so. Now, he's from Boston, Massachusetts.

He just calls a spade of spade. So I appreciated that. But he was skeptical. But in addition to being skeptical, one of his biggest challenges was the fact that his spouse was not supportive of what he was doing. So I'm going to allow him to dive into his story and his journey because he's only been investing for four years and he's already acquired three turnkey properties. And I think I turned him into a believer. So ladies and gentlemen, without further ado, my very good. follower and friend of our podcast, Mr. Glenn Hazard, welcome to the program. Are you there? And can you hear me?

I am. Can you hear me? I can. Thank you for joining us, Glenn. I know it's been a rough couple of days for you because you live in Boston. And I heard that you've gotten, I think, 14 inches of snow. Is that the case? Yes, it is. Well, welcome. I'm in beautiful Southern California. I do not mean to rub that in, but it is not 14 degrees here, nor have. have we received 14 inches of snow. So Glenn, thank you for joining us and tell us a little bit about Glenn. Well, I'm probably the average person, I guess, as far as, you know, I'm married. I have two kids. I'm 47 years old. My background is firefighting and military, so as far as real estate is concerned, I know how to destroy properties, I guess, more than build them up.

So you are a firefighter. I am. How long have you been doing that? Almost 20 years now. 20 years, unbelievable. And do you absolutely love it? What is it that keeps you on the firefighting force for 20 years? I'm going to modify the answer because the truth is...

I do like it, but it's different now that I'm older. You know, it's a younger man's game. I make a good check, you know, that's the truth. I'm over the hump as far as getting close to my retirement. So, I mean, I'm just going to hang on. There's no reason for me to leave. But the older I get, the more dangerous it gets. That's the truth.

Wow. Glenn, thank you for being so absolutely honest about that answer. I speak to so many people that, you know, love what they do. And then there's other people that do it because either they're good at it or because they have to. And the fact that you've been doing something for 20 years and you're doing it because it's good pay and you're close to retirement is something that so many people can relate to. So thank you for sharing that. So tell me a little bit about, I'm going to allow you to take over our conversation because Glenn, you were a little gym. I remember when you and I first started talking, it was a whole different completely Glenn.

Glenn has been a follower of the show. I want to say for about five years, is that Glenn? How long have you been following Epic Real Estate? I contacted you. I remember very clearly because I was getting ready to go somewhere when I was still in the National Guard. We met, well, I contacted you roughly about May of 2015. At our first conversation.

Okay. And what made you reach out to me? How did you learn about us? I actually got an email from Rich Dad, Poor Dead. And Robert Kiyosaki was interviewing Matt. I still get stuff from him. And I'm always curious to see what he says. And he likes to promote certain business models every now and again because of their effectiveness.

And I believe because of, I don't think it was so much about flipping because there's a lot out there. about flipping. I think it was mostly about the cash flow savvy and the turnkey operation system. And it just picked my interest. And I watched the interview. I believe it was about a half hour or so. And so Matt was sitting there directly right next to Robert Keyesacking. It's like, hmm, wow. So I, you know, I decided there was a link there and everything. I had your contact information and I called it. And that was back, I guess, when you directly answered the And, you know, we had several conversations, if I remember. And I was skeptical.

And I was only skeptical in the sense that, first of all, I had never heard of a turnkey operation. So I was like, but I always wanted to do, in the back of my mind, I always wanted to do real estate. If you just buy a book, you can't learn from that. Because now that I know a little bit more about real estate is the systems. And you can't get that just from reading a book. And so you invited me out, and that, I believe, was your first epic intensive, if I'm not mistaken. And that was in Universal Studios, L.A. And it's like, believe it or not, Mercedes, I really followed my heart on this.

I listened to what my God was saying and something just said, go out there. And I was like, I had to take a chance. And it was a lot of faith and trust. and I just went out and did it. I had a finagle my way around my wife at first. I remember. I know she was not on board. I do remember that.

Yeah. In fact, you lied to her about where you were going. I remember that. Actually, you created a useful fiction. Is that correct? Yeah, I mean, my mindset was, I need to do what I got to do. and I just did it. And I have no regrets.

I don't look back. And I don't think I would have done anything any different. I went out there, I met you guys, felt comfortable. I had a great time because I had never been out to L.A. So it was interesting in that point. What made you feel comfortable about the team? I specifically remember, by the way, Glenn, that intensive was five years ago. And it was a combination of an epic intensive and something.

that we used to do called Grub and Grow Rich. And it was just a small evening where we just explained how cash flow and creating streams of income can make a difference for you. We no longer do the Grub and Grow Rich events, but we still do the intensives. But I specifically remember you, Glenn, because you were, first of all, so skeptical.

And you were open-hearted because you knew you needed to make a change. And by that time, you and I had had several, conversations about just where you were in life, your mindset, you know, you were in the rat race, you were working paycheck to paycheck, and you were sick of it. And, you know, I do remember three things that popped out in my mind. Number one, I live in Boston. I'm ready to get out of the snow. Number two, I remember you're saying, I'm skeptical. This isn't going to work. Why is it going to work for me? And number three, my wife is not on board. And for us, number three, was the biggest hurdle to get over because I have seen time and time again that if your spouse

doesn't support you in real estate, that is like a recipe for failure. And you did something against all odds and you kind of fabricated why you were coming out to L.A. And I remember when I learned about that, I got upset. And I said, Glenn, that's not the way to do it. And then you went home and you fixed it. And I remember you did that and you called me to tell me I told my wife the truth. So tell me a little bit about that.

Why was she not on board? And then how did you end up telling her the truth after you came to L.A. to spend three days with us? My wife is pretty in touch with the intuitive world, I guess you would say. She sensed something. And every time we might have talked about something, she could sense things.

and it was a matter of time I had to just come clean anyways. So what did you come clean about? Well, I told my lie was that back then I was still in the national card. So it was not uncommon for me to go away every now and again for training or whatever. So that's what I did. I told that I was going on a training. Because even for three days, I've gone away for three or four days. I don't always go away for a week or two or whatever.

So she, on the surface, she bought it. And so I told it and I says, yeah, I'm going out to California. And I says, I'm going to training opportunity. They asked me and I said yes. So that was the lie. Okay. But again, she sensed it from beginning because a woman's thing, I guess. Woman's intuition.

Yep. If we follow our gut, woman's intuition. I get it. Okay. So you came clean and you told her, look, honey, I'm doing this real estate thing. Tell me about that. And then tell me what was her reaction? It was easier. Honestly, by the time I told her, I had already bought my first property. I remember that. Okay, we'll get into that. So let's table that conversation.

I'm going to fast forward a little bit. And I wanted to know you said you had real estate in the back of your mind always. You always wanted to do it. I know you had been listening to podcast. You yourself said you had picked up a couple books. In fact, that's how you were introduced to us because Robert Kiyosaki and Matt were doing an interview. So you saw that interview, by the way, Robert Kiyosaki, still a great friend. It's always been a mentor of ours. Did an amazing interview with Matt. And so for those listeners that want to see that, it's out there in the cloud. And it was amazing.

And then you reached out to us. But why real estate? And why specifically when you contacted me? Can I make a long story longer? We have podcast listeners that are interested. So make a long story good and short. How about that? My first even thought of real estate, believe it or not, was before I was in the National

God, I was in the Marine Corps, and I was active duty. And I had a friend. His uncle was a realtor. Got it. He was talking to him on the phone. and he told him, I got a friend here, he's interested in real estate. So he ended up talking to me on the phone. And I don't know if you would agree with this.

I think he probably would. But he said one thing that just stuck in my mind. And he says, real estate works, but you just have to go big with it. And he was a realtor, but he invested as well. And back then, you know, I didn't see the forest from the trees, but it kept its state in my mind. Yeah. So that we're getting big with real estate, that's relative, because everyone's definition of big is a different size. Well, I'm seeing that now because I make $200 of property, which is not a lot, but it's like, all right, so I buy $100 of them or $10 or whatever.

That's where the money's going to be really coming in, but I know it works. So that's why I'm going big with it. We'll talk about that $200 of month and passive income right now because I want to table that too. two things I'm tabling there. Okay, so tell me, you reached out to me, we talked, you went out to an event, and then you and I had a lot of conversations, and you decided to pull the trigger. First of all, what happened in your mind that after all the time you and I spent on the phone and the fact that you flew out from Boston to California, you spent three full days with us,

what was the one thing that said, okay, I'm finally going to. do it. I don't think it was a specific aha moment, I guess, but at that point it was just do it or go home. And it's like, all right, I'm going to do it. What do I have to lose? My only hesitation in my skepticalness was from previous, not real estate related, but business in depth, I guess, that I got involved in. And my lessons learned from them were I was biting off more than I could chew, meaning I was investing all this stuff. into trying to build the system without, you know, and I wasn't putting forth the work either. Yeah.

And so I, that's why I was skeptical. I just, I was afraid I was going to lose money. Yeah. Yeah. But everything pushed me says, do it, do it, do it, do it. And I just listened and I acted. Yeah. You know, Glenn, thank you for sharing that. I want you to know that your, that feeling, that fear, that skepticalness. first of all, it's common with just any person starting a new endeavor.

You know, fear is always part of the equation. You mentioned something that, you know, you had done other businesses before. You had tapped into other opportunities. Perhaps that's where your wife's mindset came in because you had failed at something, you know, whether it was your fault or whether it was circumstances or whatever. And maybe she wasn't supportive of you because you had lost money. in other investments or other endeavors. Is that the case? Yeah, I believe so, yes.

Yeah. That's usually why, you know, why spouses don't support often is because, you know, they failed at something else. And failing is part of life. There's nothing wrong with it. What's, you know, important that we take into consideration is that when we fail, you know, that's a learning opportunity. Let's take what we can from that failure and make sure it doesn't happen again. So I get why your wife was skeptical. I get why she was intuitive because you had failed at something else before and she thought you were probably going to fail again. She probably thought, oh no, there goes Glenn, getting into something new. And that's perfectly normal. So when you came clean and you told the truth, I'm sure it didn't make her happy at first,

but it's changed a lot of things because you're now on property number three. We'll get to that. Okay, so you took the step forward. Describe what the process was when you decided to jump on board and say, okay, Mercedes, I'm going to take on a first property. I just told myself just to shut up and listen, let the process do its thing. Yeah. Okay.

Then how did that work for you? Well, because it was new. See, the whole difference between real estate and my other experiences, I invested in a tangible asset, which I never see before. I was just investing in information and, you know, this and that. And that's the biggest difference. From day one, I was getting money almost. You know what I mean?

I mean, I obviously, you know, once it closed and then a couple weeks, maybe a month before a tenant actually got in there. And then you have to wait. But basically from day one, it was working for. Okay, so let's start from the beginning. So you decided to do it and you jumped into our investor queue. Explain how that happened. What happened there?

So then you explained, you know, how it's done as far as creating an escrow account. I know there was differences because my first property was, I don't know what you consider it, but it was. My second property was the property of the week. So it was a little different thing. Right. There's a difference between the properties that are deals of the week. $5.500.

Second one, because it was property of the week was only $1,000. Whatever, it doesn't matter. It's all going. So I did that. I opened up. I did exactly what you guys told me. You moved at the speed of instruction. Okay.

So what you did is you opened escrow with $2,500. Then you started, by the way, the $2,500 goes towards the price. towards the purchase of your property and you chose the property and then that $2,500 became the earnest money of the property that you chose. Fantastic. What was the choosing process like? When you saw properties, it was a very first time you had seen properties ever on paper because obviously you live in Boston. The properties were not in Boston. What was that like? Again, it's a matter of, it's just stepping out on faith, you know, and just trust. Again, follow what I was taught, follow what my instinct was saying. I looked at the numbers and I made a

criteria. Good job. I had to be realistic. You know what I mean? It could be the greatest deal in the world, but if it's a million dollars, I just don't have it. You know, so I have to be realistic. You know, it's funny because I did the same thing when I bought this, my house that I live in now. I was realistic with what I can afford. Yeah. And I didn't buy a $500,000 home. because I just couldn't afford it. So I did the same thing. I set a criteria. You were sending me the deals that were roughly in the same price range anyways,

80,000-ish, give or take, that were a little bit more. But again, doing the numbers. And it's like, well, I can afford this down payment. I can't afford that one. So I'm going to these ones. And then I looked at another criteria I had was the ROI. I want the cash flow to be a little bit more. So my aiming point was the 15%.

Cash on cash return. Yes. Yeah. You know, I remember us walking through this process about identifying what your criteria was. And normally, when you're in the queue, I just send you what becomes available to you. Because sometimes you'll see properties in the $80,000 price points. And sometimes you'll get a property in the $150,000.

thousand dollar price point. But one of the things I specifically remember about you, Glenn, is you were very clear as to what you were looking for. You know, you were looking for a certain bed and bath count. You were looking for purchase price amount and your ROI. And your numbers were crystal clear, which made it really easy for us to help you. And so we were only sending you criteria. We were trying to simplify it even more. We were only sending you the properties that met your criteria So you were comparing really apples to apples. So I do remember when you chose your property, you called me about 17 times and asked me questions about that property. But I was able to answer the questions and then you finally did choose the property. So when you chose the property and said,

yes, Mercedes, I want that property. What happened next? Walk me through that process. I just started getting the ball rolling as far as my next steps. What I had to do was get that money in account so it didn't get seasoned. That was the big. And I find that, honestly, I find that probably to be the only obstacle just because of time-wise. Yeah, yeah.

So what that means, listeners, is money has to get seasoned is Glenn decided to use a conventional finance mode. So he went through conventional financing. I referred him to one of our lenders. And our lenders are amazing because they walk you through the entire step. Glenn can probably attest to that, but do the entire process step by step so that you're not lost.

And they require that the funds are seasoned and source. And basically what that means is that the money that you use to purchase this property as a down payment and to show that you approve of funds, these funds have to be seasoned. They have to be sitting in your account for three bank statements. We can't see when the funds are deposited if it's a bulk of funds, but then they have to sit an entire two additional bank statement cycles. So if your statement goes from the first through the 30th, it has to sit the entire month without you touching those funds,

and you have to show three months of bank statements. So that's what Glenn is referring to where it takes up time because you do. You have to wait three months for that to happen. And normally I make people do that, before they jump into the queue. In your case, it was kind of simultaneous. So the closing was just a little bit longer because we were waiting, Glenn,

for your funds to season. Is that correct? Yes. That's correct. Cool. Okay, so then fast forward through the closing process. Tell me about the inspection. Tell me about the appraisal for you as a first-timer.

What was that like? Again, it all goes back to faith. I just took, I used the resources you referred me to. You gave me numbers for inspectors, lenders, everybody, property managers. So, I mean, I just, I realized, I had enough knowledge to realize there's no point in me trying to find my own contract, especially to, or an inspector, especially to save a couple bucks. It's just not worth it. So I just, I called. You gave me three numbers, as a matter of fact, for inspectors.

So I just went, I went with the first guy. I called him. And he's kind of old school. Like, what I found impressive was that everybody. But he's up to technology as far as he gave me a full report, something I could really look at and say, all right, boom, mom, mom, and I did not close on that house until certain issues were addressed. That is correct. That is correct. And the appraisal, but the inspection, tell me when you said it's a full report, how many pages was that report? His wasn't as long as my, the second property was 40 pages.

This property actually was pretty long, too, but it was very old. organized and I really appreciate you that. And I could zone in specifically in what issues and where to find them. Because he said he gave recommendations. And, you know, we all know inspectors are unbiased as far as the third party. They have nothing to gain. So they want to say how it is. And that's, you know, that's what I want to know is the truth.

Right. You know, and it was. Yeah. In each market, we purposely choose five inspectors that are in the local area. And then we give our cash flow savvy clients a list of inspectors and said, here, feel free to choose any of these inspectors. Or you can go hire your own. We have no problem with you hiring your own inspectors. You did say something that has a lot of truth to it.

There's no point in me to go out and find a new inspector just to save a couple of bucks. And the reality is one of the reasons, Glenn, we provide a list of inspectors is because there are inspectors and there are inspectors. Some inspectors have no business inspecting. And so luckily, because we operate in volume, we've had our share of really bad inspectors. And what I mean by really bad is you can tell they have limited experience and they have no idea what they're talking about. And you mentioned my second property was 40 pages long. Yeah, typically inspection reports are 30 to about 50 pages long. Imagine that. You are getting a 50 page report on one property.

And so the reality is the inspector, their license. And it is their license on the line that you can strip if you find out that something to the or if you find something on the report that later becomes a huge issue. So the inspector, one of the reasons the inspection reports are so long is because they have to disclose absolutely everything, even if it's not an issue. And what happens is when they disclose something about an inspection, it sounds written word sounds terrible. And the reality is it could be that the doorbell is working. I mean, it could be something, yeah, not huge, but one of the reasons we do make you do your own inspection is, number one, we want you to be very familiar with a property. Number two, we want you to

be comfortable with the property. And number three, it serves us, it serves to us as a opportunity to correct all the final things that we didn't catch. So you mentioned you didn't close on the property until all that was corrected. Tell me, if you remember, what was that what were the corrections that need to need it to happen well I guess as a firefighter I'm safety-minded yeah and some of the things were just small repairs the biggest issue I saw with that was there was a 20-foot tree trunk in the front of that property that was it was rotted it was dry rotted

it was dead but it was still up and it's like so I told them, no, get rid of it. Yeah. So they did. But they sent me the after pictures, and it looks like they blew it up. Like there was a big, it looked like literally, like they shot at it or blew it up. And it was like all, I says, no way. Are you serious?

Like, it was a tree stump, but it was so jagged. And it's like, if a kid falls on that, he's going to die. You know, and it's like, that's how I look at things. Yeah. No, no, take care of it again. Sorry. And I will not. I just will not close on a property.

My second property had a CEO leak. And it's like those things, I respond to those on the daily basis. People die from things like that. And it's like, yeah, I can't help but to go that route. And so they took care of it the third time around. They sent me a picture and it was nice and leveled. And I said, all right, I'm comfy with it. I'm satisfied.

So, yeah. No, we do. And this is one of the reasons that we depend on your reports as well. do our own inspection reports, we actually do two inspections. So we do our general contractor does a final walkthrough and we have our own internal inspection. And then we also hire a third party inspection. So by the time that you get it, it's a third inspection and we absolutely use it to our favor to make sure that, you know, everything is on point. And you mentioned, we absolutely target the issues that are safety concerns.

And ironically, with that tree trunk, no, it wasn't blown up. It was actually taken. The roots were completely removed out. And so it was amazing that they thought that that was okay. So they sent pictures of that and removed it. And I thought, why would you not cover it up? So it did take us a couple times to do it. But we did it, needless to say.

And yeah, same thing about, you know, carbon, monoxide detectors and fire detectors, although we go in and do fire alarms in each property or smoke alarms or carbon monoxide, I think. Sometimes, you know, our crew might miss one or two. And that's why we keep going back to inspect properties. So kudos to you for being so articulate about that. Okay, so fast forward to your first closing. You did the appraisal. Everything was great. all of the items in the inspection report were corrected, and then you go to the closing table. So because you're in Boston and the property was not in Boston, what was your first property? I don't remember, Glenn.

That was 412 Camilla Road in Birmingham, Alabama. Awesome. So then we sent out a notary to you. Explain what the closing process was like. Well, that whole time period was, you know, I had a show. I had to send documents, you know, checkstubs and this and that. It's a little bit better now because of the e-sign and all that, the documents and all that. Back then, even then, I was still like, I had to print out the documents, sign it, and then re-scan it back in. Yeah. So an odory went to your home, or did they go to the fire station?

The first one, they came to my home, and I actually had the same guy for my second property, but he had to meet me at my firehouse. which was convenient, you know, and it's like, it was flexible, you know, and that was a good experience. And I actually, when he, because he had me the second time, he's like, oh, you know, what are you doing here? And I told him, I said, yeah, I'm buying properties. So I kind of put the seed in easy too, hopefully, you know, good for you. Okay, so then that you first one with the firehouse, you keep talking about multiple properties. So tell me, how many properties do you have now and how many properties does your wife know that you have now? She knows I had three.

I was once at that point when I told I was clean with everything. He says, yeah, I'm going to go and do this and I'm going to go. And now she lets me, you know, go to an intensive every now and again. So you came clean. The truth set you free and now you don't have to lie to her. So tell me, you have three properties. Doesn't that feel good to let her know that you're doing everything and she's fully involved and you're completely transparent about what you're doing and the financial future

that you're creating for yourself and your wife and your two kids. Does she feel amazed by that? Yeah, she, you know, I know the conversation aspect of it will continue. And I had another level. I took the conversation to another level. I reconnected with an old friend of mine who actually experienced some success. And he's made. mentoring me a little bit. Good for you. He said, he had the same issue, you know, with his wife. He said, do this, tell your wife this.

He says, ask your wife, say, do you love me? Of course, she's going to say is, I says, do you love me enough to trust me? And I never really thought of that, but I did it. And sure enough, she's like, yes, I do. He says, all right. You know, I assure her that I'm not going to bet the farm. I'm not going to, you know, I know I get it.

I get it. Women want security. They want to make sure that they're not going to lose the house. They're going to have meals. And I get that. I will not take away from that. But she's got to know that, you know, what I can do on the side, what little I can put away is going to go towards this. Yeah. I love it.

Oh, my God, Glenn. That's music to my ears. So you have three properties. Tell me where your properties are located. And in a nutshell, tell me how much your cash flowing on each property. technically I'm not cash flowing on this last property I just bought because they just closed you just closed two days ago Glenn so that's why you're not cash flowing yet but we'll get to that okay so property number one Birmingham Alabama how much are you cash flowing on that

I'm getting the rent collected is 895 they take their 8% fee which is at 80 dollars the mortgage is 522 so I'm taking like two 20, 20, 30, I think it is. Yeah. Okay, let's say $200 on property number one. Where's property number two? That's in Hammond, Indiana. I love Hammond.

When we had the Epic Intensive in Indiana, the day prior, I flew out to Chicago, and they picked me up. They were great guys at Caps Rental. I know. I love my boys over there. They're awesome. All of my teams are awesome. I think you know this by now, right?

And I went to their office, and it's like, It's a small town, and it's interesting. But one of the guys took me and drove me to my property. Yeah. I saw that. And I had never even heard of Hammond. Right on the outskirts, it's like on the far corner right next to Chicago. It's that close.

I'm getting about the same amount from that. The numbers are a little different. I have a, and this is another lesson I've learned, you know, insurance is obviously different. And because of this, I created a new criteria. I will not buy a property that was built prior to or is probably older than 60, 70 years old because I learned also the highway. Yeah. Older properties are obviously more liability. The property in Indiana was built in 1912.

And it looks great for what it is. It was well kept. And it's bigger than I actually thought it was because when you actually get to see it, it's like, so that's a new criteria I added right to my closing on this third one. Okay. Okay. So how much are you cash flowing on that one? All the same. Okay. $200.

Okay. You're actually cash flowing a little bit more on that one? I've had more expenses on that house. So in theory, yes, I'm cash flowing. I'm called the same. but I've owned that house just over two years. But if you look at my averages based off the expenses, because it's just, again, it's a unique experience.

And it's not common. But it's stuff you're going to have to deal with as an owner. Okay. So you bought an older property and that just means a little bit more maintenance. Got it. Okay. But you're still roughly speaking, cash flowing $200 a year. you have a little more maintenance on that, but you're still cash-flowing $200 a month, correct?

Correct. Okay. And then on your third one, which, by the way, congratulations, you just closed literally two days ago on that property. That's why you're not cash flowing yet. However, what are the projected numbers for that cash flow? He's advertising it for he being John Cook, the property management. He wants, he's putting it on the market.

He's advertising for $9. $9.50, yeah, we are probably, yeah, we're going to get $9.50. Your projections were out of $9.25. But yes, our property management team on our third property is roughly, I mean, they're amazing. That's going to cash flow a little bit more. It's going to cash flow like in the $250ish range. But, okay, so that's three properties. That's $650 a month with three properties in a total of five years, Glenn. That is amazing. Now, let me just kind of, the reason I ask what you're, your cash flow is, Glenn, is because you're only focusing on the cash flow. You're getting so much more than the cash flow. You're getting appreciation. You're getting depreciation. You're also getting on that property that you talked about maintenance. You're getting massive depreciation on that.

And I bet I haven't run the numbers, but I'm willing to bet that that property, the one that was the older one in Hammond, is probably bringing your highest return, even if you are not seeing it up front in your bank account every month. It's on paper at the end of the year with your tax return with your depreciation. Needless to say, the properties, the two properties that you're purchased, they're not in massively appreciating markets, but they have appreciated just a little bit. And so as far as I'm concerned, Glenn, you're already in the positives on all of your properties simply because of everything that comes into play. You've been doing this for five years, Glenn. You've got three properties and I commend you. You started off being skeptical as all heck. Tell me now. How do you feel

about real estate? Are you still skeptical? I know there's lessons. A lot of lessons I still have to learn, but when I was involved in something else, I promoted it because I had to. I'm telling people now because I want to. And, you know, it's like I was talking to a coworker mine the other day, and he was really listening to me, and he had gone through some issues with his wife.

And so he wanted to learn more. And he saw my passion, and he saw, and I told him my story, what I told you about listening to my spirit and going out and flying out to L.A. And he wants to learn more. You know, I'm just going to start talking to people. And my real estate investment association is going through new leadership.

And they actually ask me because I'm always when I stand up if I have a deal, and that would be a deal that you sent me. Yeah. I promote it. I says, look, I got to deal with my partners and, you know, so and so. Everybody in that group, they always focus on Massachusetts or, you know, in that area. And it's like, I'm the only one pretty much. Because there's some heavy hitters in there that have thousands of units.

But I'm one of the few people that are investing out of the state. And they're like, really? And it's like, let me tell you about it. You know what I mean? And it's... I love it. You're doing something different. I absolutely love it.

And just so for your information, Glenn, I would love to come and speak to your rea group. if I'm invited. I would love to plant the seed of out-of-state investing because I know Boston. And Boston is a market where cash flow is a little bit difficult to come by. So good for you. So tell me, Glenn, if you were to give someone now that you're speaking to people and promoting what you're doing from the heart, not because you're making any money out of the promotion, but what is it that you kind of that you would share with a new investor who's thinking about getting involved in a turnkey out-of-state property. What would you say to them? First of all, I would just say, do it. Don't, you know, just because I mean, you know, I get it. I get the fear, but I would just

promote my, I would share with my success stories and tell them. And then I would give them a little information as far as, you know, choosing a good, obviously I recommend you guys, but I would choose, you know, that's key is the Trenki operation, you know, because unless you have the team or the connections in that area, you're not going to find anything out of state. So I would, I would recommend that next. And then I would say, just pick a market, you know, because honestly, they're all probably good for the most part. They might have little challenges here and there, but overall, you know, just pick one and stay with that and be comfortable with it, study it a little bit. You know, when I, after I bought my property in Birmingham, I reached out to people in Birmingham. I actually found out that they have a really big fire department because I, yeah.

Yeah. And I was going to, you know, you can still work through your property managers in building a little team. and that as well. And I would just encourage them. And, you know, if they continue to ask me for advice, I just give them what I know. Awesome, awesome. And what would you say, Glenn,

has been the biggest lesson that you've learned through this entire ordeal? You know, start now, just do it. I know that I'm not going to waste time anymore before I did. When I found something that worked, I just went with it and rolled with it, you know, and I'm not looking

back. I love it. Glenn, do you mind sharing how old you are with our audience? Sure thing. I'm 47. You're 47 years old. Awesome. So that means you started when you were, you know, when did you actually start looking into real estate? Legitimately when I talked with you guys. Okay. So five years ago. Good for you, Glenn. You know, I do remember, you know, finding the money was an issue with you or so you you thought it was an issue because you did have money. You just didn't know that you had it. And that's the problem with so many people. They say, yeah, I have money in my 401K. I have money in this IRA.

I have money over here, but it's not enough. No. You know, I always say to people, find the deal and the money will come. And if you have money in vehicles, it doesn't mean that you can't use that money. You just have to use it in a different way. And I think that you're in a testament to that as well. Glenn, I cannot thank you enough if there is one thing, only one, Glenn, that you can tell our new investors that are just thinking about doing this. And like you, they had been

thinking for a long time and they're skeptical. What's the one thing that you would say to them right at this moment? Have faith and do it. I love it. Ready, shoot, aim. Couldn't have said it better than that. From a fire quieter to a, you know, you were a Marine as well. Ready, shoot, aim, just do it. I absolutely love it. Glenn, thank you so, so much for your time, for your candidness and for really putting your heart out there for our listeners that, believe it or not, experience in many cases the same exact thing that you experience. They didn't have their spouse on board. They're afraid of failure. They've been thinking about doing it for a long time. They've read the books. They've listened to the podcast. And you just, after so long, took that.

a leap of faith and you did it. And now you have three properties that are all cash-loing. So proud of you, Glenn. So honored to call you a friend of the show. So Glenn, thank you so much for your time. Have a great day and keep warm. All right. I will.

Thank you for having me, Mercedes. You're welcome. Take care. Bye-bye. Does your money work for you as hard as you do for it? If not, no worries. You do not have a money problem. You merely have an idea problem.

We're cashflow savvy.com, and we'd like to share a new idea with you around income real estate that can transform your financial future and accelerate its arrival. Go to cashflow savvy.com and download a free investors package. Cashflow savvy.com. You do not have a money problem. merely an idea problem. Cashflow savvy.com. More ideas, less worries. Cashflow savvy.com. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.