Epic Real Estate Investing - Getting to the NEXT Level... FAST! with Parker Stiles | 258

Episode Date: April 24, 2017

Epic Real Estate Investing has an informative conversation with Georgia-based investor Parker Stiles. Hear how Parker has created a successful real estate investing business and established his freedom from the rat race.  Learn how Parker continues to adapt for stronger ROI and how he broadens his investment portfolio for a premium cash on cash return. Don’t miss this special episode full of lessons from an actively growing Epic investor. Embrace the unknown and be excited about the future. Get to the next level… FAST with Parker Stiles.   ______   The free course is new and improved!  To access to the two fastest and easiest strategies to a paycheck in real estate, go to FreeRealEstateInvestingCourse.com or text “FreeCourse” to 55678. What interests you most? • E.ducation • P.roperties • I.ncome • C.oaching   Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. Broadcasting from Terrio Studios in Glendale, California, it's time for Epic Real Estate Investing with Matt Terrio. Hello, and welcome. Welcome to Epic Real Estate Investing. This is the place where I show people how to escape the rat race using real estate. And if you're just getting started and or you're looking for new and creative ways of making money in real estate, I've put together a free course just for you, including a checklist on how to find motivated sellers. These are property owners that are willing and able to sell you their property at a discount.

At the end of the day, that's the game. You make your money when you buy real estate. You got to buy at a discount. And to access that free course, go to free real estate investing course.com. All right, got a fantastic show for you today. Just got back from Vegas. It was a pleasure meeting you all that came out. A great group of people. Tons of fun. Thank you, Omar, for your hospitality at the Sin City, Ria. Can't wait to come back. And this week, April 29th, I'll be the keynote speaker at the third annual REI Bar Camp is hosted by Thrive RIA in San Ramon, California. So if you're up there in the Bay Area, come on by. The real estate investing unconference, he calls it.

Register at rei-barcamp.com. R.E.I. Barcamp.com. Whether you are a newbie or a season investor, you're going to love it because you're going to walk away, feeling more confident, inspired than you did walking in. That's the promise. R.E.I. Barcamp.com. And lastly, May 24th through the 26, the next epic intensive weapons of mass. mass production, the epic three-day live event where you'll get the highly potent tools,

methods, and resources that every real estate investor can use to find more motivated sellers, buyers and lenders, and do so in as little as 60 seconds. What? 60 seconds. Yes, even if you think you've heard it all before, I'm going to give you a couple strategies that can generate leads just like that. So with these weapons of mass production at your disposal, you're going to find more deals, cash more checks, and finally start calling the shots in your life, just like our guest today.

May 24th through the 27th, go to Epicintensive.com. I'm already on the phone today. Epic Pro Academy member, private coaching client and friend. I'm privileged to call him a friend. I'm honored to call him a friend. He's made and continues to make a great amount of progress in his business. And he's all done it all in a relatively short period of time. And he shows no signs of slowing down.

So I asked him to come on the show, actually come back on the show and share what he's up to and how he's doing it. So please help me welcome to Epic Real Estate Investing, Mr. Parker Stiles. Parker, welcome back to the show. Hey, Matt, how's it going? Very good. very good uh you're still in uh in the alana area you're just like kind of northeast of atlanta right yeah i'm about 30 minutes uh northeast of it or actually northwest of Atlanta actually um but yeah i just wanted to say something real quick that uh just just the

intro i mean how you're bringing on the show i mean it's just crazy like thinking about you know all the people here in your podcast for the first time or the first couple times um i mean i just remember like it was yesterday like just hearing that intro and i think you're you were bringing on Brad Donnelly, maybe some other guys, and, you know, they were killing it and, you know, decently short amount of time. And, you know, hearing you say that about me, it's like, man, I thought it was going to take so much longer than it did. And it just shows, you know, put your head to the grindstone and, uh, knock it out and, you know, really anybody can do this. So it's just really cool to be here. Yeah, totally. You know, as, um, you're kind of a recurring

example at the last intensive or two intensives ago. And, you know, my, my story is I read this book, Rich Dad, Poor Dad, and I got the grasp of the concept of increasing your passive income, your monthly passive income to exceed your expenses, your monthly expenses. And that's, you know, that's the definition of exiting the rat race. And I did it in three and a half years, just under four. And, you know, a lot of people, they, they hear that with skepticism and cynicism. And they think, I'm not that or I didn't do that. And I was like, you know what? If I had, Knowing what I know now, if I could do it all over again, I could do it so much faster. I mean, I certainly don't want to go back and try to prove them wrong.

But being able to pass that information along to you and watch you do it and then Corey do it. And I've seen Brad. Oh, my God, I think Brad makes more money than I do now. The guy's a beast. He's killing it. Right? And so, yeah, glad to have you here, dude. I mean, I feel good when I think about you, just that, you know, you're out there just doing what you're told to do.

and you're doing it consistently. You're doing it with persistence. I don't think you have sidestepped any of the challenges that every real estate investor encounters, but it's how you've reacted to them is what's made you success. So congrats to you, too. Thanks. I appreciate that.

I mean, it's just, you know, I think I mentioned this in the last episode that we did together a while back, maybe a year or so ago. You know, just don't, you know, anybody listening. Don't leave yourself another option. That's the spot that I was in. You know, you can have option A,

and you can have option B, but for me, I just eliminated option B. So there's only one way to go. And at that point, it makes it a lot easier. But yeah, it's been a fun road. It's been a bumpy road. I can't say it's been a straight arrow. But, you know, that's, I've learned most of my best lessons from, you know, those mistakes that I've made along the way.

And if you can keep a good mentor and, you know, a couple people that are in the shoes that you want to be in a few years down the road, if you can keep some of those people in your back pocket and, you know, try and be of value to them as well, but keep them around for questions and things like that. And usually they're happy to help. You can definitely minimize those mistakes. For sure. So yeah, bring me up to speed. What does your business look like right now? What does it look like today? Because I don't know it's transformed and it's made some adjustments and it doesn't look exactly like it did a year ago when we talked last.

No, thank God. I mean, I was definitely happy with where I was a year ago. You know, it was a different spot than where I was the year before. for that, but, you know, that's, that's the goal every year just to keep improving and, uh, uh, make sure you're, you're moving closer to that, that end goal, uh, of, you know, complete financial freedom. And, you know, once you've reached financial freedom to, you know, you have other goals. You know, your life is constantly changing. So business today, um, it, it's going great. I mean, it can always go better. And like I said, we're moving in that direction, but, uh, things are going well. We've got, so basically it's kind of, kind of set up two sides now. Uh, I'm in

Georgia, locally here in Kennesaw, Georgia, Kennesaw, Ackworth, Marietta area, which is, you know, about 20 minutes northwest of Atlanta. And that's where that's where I started, started doing a couple fix and flips here and there. And then early in 2016, I can't remember if that was before, after we did our podcast together, the first one, I acquired some rental property, got my first one in Atlanta inside the perimeter, just kind of in a lower income area. I was real hesitant about lower income rentals, and you look on bigger pockets and things like that, and you'll hear back and forth all day long, oh, you know, definitely don't go this route or, you know, definitely do go this route.

And then you'll find another season investor who will say the complete opposite. Right. So it's kind of interesting to check that out, in my opinion, from what I've seen. And now that I have a little bit more of a seasoned head on my shoulders, definitely not as much as I'd like yet, but that will come, is I like the low-income stuff, you know, for rentals. I think the returns are much better. And I think that if you can figure out how to work those types of tenants and how to make sure that you are fielding those tenants properly, then you really don't have as many nightmares as you read on, you know, bigger pockets, blogs or YouTube videos and things like that of all the people saying,

You go for the good school districts, go for this and that. I'm not dogging those people. You know, they've got, you know, great stories and of tenants lasting, you know, long, long time. And, you know, the place is spotless when they move out. And that's all good and great. But, you know, I'd rather have a return that's three times bigger than theirs are and have to have a cleaning crew pay 200 bucks, you know, to go in there and clean it up, maybe fix a couple of other issues than get that much less than rent. So I guess to get back to your question, you know, we picked up some more. of those low-income rentals.

That's the niche that I found, and I like it. We did one single family, three-bed, two-bath, got it at a steel from a wholesaler, actually. Then picked up a duplex a couple months later, same area, baseball throw away. And that one was from a wholesaler as well. Recently, I've found it much, much more difficult than it was, you know, 2015, 2016, to find good deals from wholesalers, which I'll get into why in my wholesaling business. I'm trying to do a couple different things a little later. But yeah, so got the duplex.

So that was three units. And then we recently just finished another rental in a lower income area. These are all brick. That's another one of my strategies that I like to do is, you know, if I'm going to hold something long term, when I buy it for a rental, I don't plan on selling it. I don't do the buy it, rent it for a few years, and then flip it. I'm just going to hold that thing. My main goal from day one was cash flow. and to replace my expenses with my investments.

People ask me, you know, well, how long's it going to take you to make that money back? You know, you put 35, 45 grand into a property. How long is it going to take you to pull that money back out? And I tell them, I don't really look at it like that, you know, because I don't ever plan on taking that money back out. You know, everybody looks at their return differently. I choose to do cash on cash return, just, you know, the cash coming out of my pocket, divided into the or vice versa the cash coming into my pocket

after expenses and everything but yeah so I mean if I don't plan on taking it back out then that's just really not how I look at it so and then recently we just bought a quadruplex that's our largest unit so far I'm trying to move towards direction to multifamily I really

my wife and I really like the duplex and the cash flow that it brings and we're like hey you know we can do it with a two unit let's try it with a four unit And we found a brick fire damaged quadruplex from a wholesaler friend of mine here in the Kennesaw, Ackworth area. And he's got some great deals every now and then. And this one came across the desk.

He said, hey, Parker, come down here and check it out. And, man, was this place a mess? I mean, we've got a good amount of videos now on my Facebook page, Barrington acquisitions of this quadruplex. And it's by far the biggest rehab that I've ever gotten into. It's going to be, you know, every bit of 160 grand. And hopefully it won't be too much more than that. But it's going to be interesting. We've just finished demo.

It's about day three and just ripping the place apart. Already filled up to 40-foot dumpsters. I mean, the place was just cram. It was like hoarders, the TV show galore. Just every unit. Plus the fire damage upstairs, you know, looked like, you know, walking into hell upstairs. It's crazy with all the, you know, it's just a.

the damage that heat does. You know, you've got the heat and just warping stuff and, you know, the wood from all the trusses and the roof. I mean, it looks like it came out of a fireplace. So we've got to pop the top, do a whole new roof structure, new roof. Pretty much the only stuff that's good upstairs was the framing on the right side of the house. So everything else, basically new construction. And then with a fire, unfortunately, when you have fire damage, you also get water damage. So downstairs, you know, everything's.

just blown out. But it's going to be a big renovation, but it'll be good. We'll be able to rent out each unit for about anywhere between 750 and 850 a month where the area is. We're going to try and go with some modern finishes and, you know, grays, you know, real cool looking ceiling fans, open floor plan as much as possible for the two one units and see if we can charge a premium and rent with doing some cool fixtures and modern grays and whites colors and things. There's not really anything like it in the area. And in Atlanta, in town, these mods are just selling for, you know, you pretty much name your price on it. It's crazy right now.

But with these newer graduates, they got a good job, want to live in the city. They come down and they want something new. They don't want these traditional, you know, bungalow-style homes. They want these mods with the cool cantilevers and things like that. So we're kind of copying that type of style. So that's interesting for us right now. So that'll be eight units. Oh, that's eight units.

Oh, well, sorry, four units plus the other four that we have. It'll total eight units. Cool. Slow on for just a second. That's four units. So how much are you got, you have 160 in rehab? When you're all done, how much were you having that total? 200.

So the price was 60K, and we just couldn't make it work. And I was able to get the price down. I thought I was going to have to back out of the deal. But I was able to, you know, work with the wholesaler. And he was able to get a little price reduction as well, I believe. And we got that down to 40 grand. for an all-brick four-unit, two-bed-one-bath quadruplex. Got it, got it.

Sweet. So if you got 700 a unit, I guess you're right around 10, 11 percent? Yeah. But you're going to manage yourself, though, right? Yeah, I think it comes out to about 11 percent cash on cash return, I believe, and we are going to manage it ourselves. We had a property manager, but we decided that it worked best for the situation that we're in now for my wife to take.

over that position and we're pretty close by and once we get to 15, 20 units and it becomes a burden, we'll look to hire that back out, but it just wasn't working for us at first. Right, right. And you'd said it right in the beginning when you started sharing was, you know, you like the lower income now and if you figure a few things out, it works really well. What are some of the things that you figured out that's making it work better for you? Well, one thing is I realized that there's a good tenant in every area in every market. So a lot of the fear is, well, you just can't get a good tenant in that market. You know, if you're renting for that low of a price, you know, everybody's bad.

There's just too many horror stories. And I get it that there are. But if you spend the time and you understand that there's going to be, you know, call it a little bit more days on market, you will be able to find great tenants. I mean, in my opinion, we have great tenants in all of our units so far. We just released another one from the same tenant. I've maybe heard from her three times, maybe four in the past year. And she's paying a premium in rent. And that took a little bit more due diligence.

She did have a foreclosure on her record. So I dug into that a little deeper and found out it really wasn't what it seemed. And in my opinion, as long as they make the three to four times the rent, they come and they can verify, I'll also call past landlords. and things like that. Just do your due diligence like anything else. If you're doing a flip on a house, you know, do your diligence on your tenants.

A little bit of patience too, probably. Yeah, exactly. And just don't take the first, you know, the first 10. Way the options and there's a good tenant in every area. So that's the main thing. It does take a little longer. But then again, if you're talking about the return that you're going to get based on, you know, paying 1% rule in a good school district,

I'll take it every day. Right. Sweet. Super. So you've got this massive project going on. That's probably, what's the time frame on that? 60 days. We've got like an 80 day time on it conservatively, but it's a big brew. I've used them for the last, the last big rehab that we did is about 129, 127, something like that, $1,000 renovation in a nice area, Alpha Red of Georgia, actually. and they did a awesome job. We had a flood. We were under contract on this house with a buyer at asking price within, I think it was like 48 hours of listing it. And they get the inspections.

And there's a couple minor things here and there. We have the plumber go in to tweak some of the, there's like a leaky faucet or something like that. And just crazy circumstance, he goes in there and makes a little tweak. He leaves. and the line pops off of the faucet of the master bath, probably a $8 to $10,000 master bath that we just finished, and floods half the house over a period of about five hours.

We got a phone call from the neighbors saying that they were eating dinner and they could hear water coming off the master balcony deck and splashing on the ground. and my realtor ran over there as fast as he could shut the water off. But I mean, by that time, I mean, it blew the ceilings out downstairs, warp the flooring. It was bad. But, you know, with these contractors, that's really the circumstance right there where

if you can come out in a favorable position, you know, after, you know, tempers are heated and, you know, it's hit the fan and everything still comes out good, then you know you've got, in my opinion, you know, you've got. a good contracting crew, and they're the ones that I'm using on this big project. That was cool. You know, Parker, it's funny that you tell these stories, and these are the types of stories that you hear people tell that are quitting the job or quitting real estate and said they'll never do it again because of that stuff.

And it almost sounds like you get excited about it, and it's the reason that you're still doing it. What's your perspective or mindset on these giant, you know, mishaps that happen every once in a while? I don't know if I have a perspective. I mean, it's just what you do, right? Yeah. It's like back when I said I didn't have an option B.

I know I'm not going. I mean, I just look back and I say, this is what I was doing. Yes, this sucks. This is a crappy situation and it's really stressful. But is it as stressful as waking up at X time, taking a shower, putting on retarded leave, you know, not necessary, nice clothes, sitting in rush hour traffic for an hour, sitting at my desk, acting like I'm busy all day. you know, I just can't do that. Like I felt like I was in a prison when I was doing that type of work. And it's just not for me.

So me dealing with that type of circumstance, I like being under pressure. I like solving problems. I don't like to do it all the time, obviously. But when I look at what the alternative is, it beats it every time. Right. So I guess that's my perspective. It's just better than the alternative. Yeah.

And it pays way better too. And it pays way better. Yes. And the vacations are better. and the time off is better. I agree. You know, bag and groceries, that was my plan B after the music business. I was like, well, this is a crappy plan B.

Right? So I was like, I know what the alternative was for me if I didn't go ahead and take charge. So I just think about, yeah, I've got crappy talents. I've got contractor mishaps and, you know, I got headaches all the time. But the alternative, you know, reporting to somebody else, that's just not acceptable. That's not an option. Yep, 100%. I get it.

Sweet. All right. That's the passive side. And then, you know, we're trying to do some flips. We're working on a new partnership. And when I say flips, I mean rehab, fix and flips. We're working on a new partnership over here to get some mail out. I don't want to drop anything yet because we're still putting things in the works and

trying to see if it's going to work the way we think it's going to. But it's a niche mailing with kind of things that are going on particular. in our market right now. So we're excited about that. We think that's going to bring a lot of action. And then other than that, we've got the wholesaling business that as of May of last year, I think that's actually when we did the last podcast,

was in May of 2016, right after I sent my first mailing out in Charleston, South Carolina. That's right. That's what it was. So you started working virtually now. So working locally and virtually. So tell me about the virtual business. That's been a,

roller coaster of emotions, to say the least. I remember people telling me to not do it, that I didn't have enough experience, that, you know, I needed to be doing this for a while longer in my, in my direct market before I started doing it virtually. And, you know, I understand that. But I guess I was either, you know, too naive or too determined. I don't know what it was. But I ended up going for it.

And yeah, I think it's been about, what, nine months or so. And things are finally in the black. It was a tough road for about eight months there. But just kept going. And, you know, everybody was asking, people ask me now, like, what's your secret with marketing and stuff like that? And I've heard you say this too, Matt. It's just consistency. And that was one of my, you know, there was a number of issues that I've had to fix with this virtual wholesaling thing to make it to make it work.

But one of the main things is just being consistent with marketing. And it's hard because it's discouraging when you'll send out, you know, we're sending out 19,000 postcards a month, there we are currently. And, you know, it's not cheap. And when you send out 19,000 postcards and you get 36 phone calls and 98% of them are telling you to take you off their list or that, you know, yeah, every house is. for sale for the right price kind of guy, you know, it's, it's just, it makes you want to break down. And it really doesn't make you want to send out the same $19,000 the next month, you know,

thinking that that may happen again. So I totally understand people when they're in that spot now. But all I can say is, you know, what I did is I used, I think I went through your Epic Fast funding, used credit cards or get a line of credit. it or whatever you need to do to give yourself, you know, six months worth of cash to keep mailing. I think that's kind of what I've come to as a six months. You know, you're going to get enough deals done. If you're sending to a list that's not just complete bogus, you know, with time, you

will pay back that debt and then you will get into the black. So it took a little while longer for us. And, you know, in a market, if I was doing that in Atlanta, I guarantee it would not have taken that long. But, you know, with a virtual system, there's just, there's a lot more to it than I thought. I thought I had it all mapped out. I knew there were there going to be a, there's going to be a couple hiccups, but there were more than a couple. Right. Right. But we're good now. You said a few things that we could go in three or four different directions, but I just wanted to concur with, you know, being able to pull that trigger every month on your marketing budget, because

this has been a very unique beginning of the year. Like December was our best month ever in the history of our business and we did not slow down one bit going into the new year but on our marketing campaigns January, February, March, absolute crickets. Wow. Like nothing. I was wondering if the post office was even mailing it. And I mean, we do a similar size of mailing as you. I mean, we're loading out 20,000 out there every single month.

And to pull that third month in a row with no response, you're wondering like something's broken and what's wrong. I'm like, I teach this stuff. What would I tell myself if I, if I, if I, was coaching myself, I'd be like consistency, consistency. And so we loaded up again and we got six deals within a week. And four of them are like home runs. And I was like, oh, thank God. There they are. Yeah. I mean, this is someone that's doing this for a long time and I've experienced a lot of ups and downs. And yeah, no, I was a little, I was a little bit nervous this year.

But right now, so there you go. There's two testimonies that just stick with it. It's consistency and persistence that wins in this business because so many other people do give up and who's left is us. Yep. And varies in every market. I mean, listen to your story. Mine was the complete opposite. You know, I had crickets in October, November, December, and, you know, we've been kicking

it off pretty nicely, you know, February, March, and looking to be a nice April as well. It's great. That's great. You said something that if you stick with it six months, you make your money back unless your list is bogus. What's a bogus list to you? Maybe there's not one, honestly. I mean, I know that there's a... I just wonder if you had an experience with a specific list that you just thought was terrible. Not in particular. I know that right now with all the seminars and stuff in Atlanta, there's, you know, tons and I'm sure it's not just Atlanta.

They're traveling all over the place. Just all these, you know, no money down, you know, no credit needed, stuff like that, advertisements, you know, there's a lot of wholesalers, a lot of people trying to break into the investing career to get out of whatever they're unhappy with that they're doing now. But, you know, with that comes a lot of traffic to list source. So a lot of beginners tell me, they're like, hey, you know, how should I get started? And I advocate door knocking over direct mail because I just know how many people, you're going to send a list out and there's going to be a postcard that lands in a mailbox of, you know, John Doe wants to sell his house, and it's sitting on top of seven other postcards that say the same thing.

So to me, I hate to see people that are beginning, you know, lose that money and not stick with it and, you know, kind of be discouraged about it and maybe give, quote-unquote, real estate investing a bad name. But I think the best return on your efforts, especially best return on your money, because this doesn't cost much, is to just find a neighborhood that's got some, you know, some nice fixed-up houses and it's got some distress. houses and it's an older neighborhood and you know a nice mix and just go in there and you know start knocking on doors go to youtube and you know we've got a guy and uh a guy in our market that i learned a lot from when i first got started bill cook and i tell people to go to youtube and just type in bill cook door knocking he grew up in cartersville and that's all he did for you know the most the majority of his career is door knock door knocked a five mile circle and you know now he's around you know traveling and doing seminars and things and he's done very, very well for himself.

So that's what I tell people that are getting started to do is door knocking, because not only are you building a base to make some solid cash, you're also having to be there face to face with a seller, and you're learning 10 times as fast on how to negotiate, how to handle rejections. You're making so many more mistakes so much more quickly than people who are just sitting out a list, getting a couple phone calls and not really getting face to face with that many sellers.

It's all about making the mistakes. That's literally what you have to do. Try and not make big mistakes, but if you can keep the mistakes small, make as many of them as you can. Because the more you do, the more you do, the fast you're going to learn, hands down. Brilliant insight there, Parker, because I couldn't agree with you more. I mean, cold calling and door knocking, it can be a long, rough road to actually close business, but there's no better practice for them. So when you do start making money,

you can actually convert those advertising dollars into profit because you're ready for it when those calls start coming in. Yep. Yep. Totally. Let's see. What else? So you've got a new partnership you don't want to talk about quite yet

until that ink is dry, so I get that. So what is your number one strategy for finding deals right now? In Georgia. We've kind of slowed down over the past, before this partnership has started to form. We had slowed down because I was not getting good results in Charleston. And I just devoted my, after we finished the two fix and flips, I sold one in a big one in December and a big one in January. And once I got done with those, I was like, I'm just going to get Charleston running smoothly. I'm not going to add anything else to my plate until it's pumping deals out.

And now that we've gotten to that point, we are bringing up other things here in Georgia now. So I'm doing a little strategy with, I wouldn't call this the main strategy, but it's something that I'm working on as far as marketing on the back windshield of vehicles, column mobile bandit signs. I got the idea off of a podcast from somewhere and made a few phone calls and found a great. provider of these stickers. They're like 36 inches long, 10 inches tall, just a white vinyl sticker that says, you know, fast cash for houses or sell your home fast with a tracking phone number. And so I will pay people a commission per deal that comes in from these stickers. And, you know, they're in like groups of four. And, you know, so you can make money off of anyone in your group. It doesn't have to be your particular sticker. So I'm working on that, trying to streamline it.

and the goals to have, let's see, where is that goal? I've got my goals right in front of me. I have 300 cars in Atlanta by the end of the year. Nice. How many have now? I get that sticker on it. I've got like 36 now. I've got another 40 sitting behind me, and I'm about to do a Facebook campaign.

I did a lot of Craigslist ads to get the first group of people, and that did work for a little while. But now it's kind of dead. I'm not really sure what's going on with the, with Craigslist. They are deleting some of my ads. So I'm trying to figure that out. But I'm going to move to Facebook now and do some ad campaigns. I made a little, you know, those whiteboard videos that you see on commercials sometimes.

I had one of those made explaining the process. So I'm going to put that on the Facebook campaign, see if we can bring some more clients in for that. Sweet. Yeah, there's probably a dozen people in my mastermind group that have been doing that for a while. And some of them go as far as saying, hey, you can drive my. car for free, but it's all wrapped up in their advertising. So they've gone pretty far with it. So you have a different phone number on each person's car?

A different number on each group of four. Each group of four, okay. So I take groups, so somebody will call in and I'll say, you know, hey, that's awesome. Let's definitely get you signed up. You fit all the criteria. You know, do you know of two or three other people that would want to do this with you? I accept groups of four. And I ask that first because I'm trying to get three other.

people out of one. So if we can, if they've got some friends and they want to do it together, I've got some college students that do that. And, you know, we'll just, we'll meet up with them and we'll give them all the stickers. If they say no, then I'll just, you know, put them into a group that needs another person or that needs a couple more people and do that. So that way, I don't have to have a different tracking number for every single car. I can divide that number by four. And each time a deal comes in through that, one of those stickers, the whole group gets to split $1,000. Oh, sweet.

That's cool. So it increases their chances. Exactly. Yeah, less money, but I found out that if I was doing it per car, the chances were just too slim, at least in this market right now. When things change, and I think they will, you know, we're going to see a little bit of a dip. I don't have a crystal ball, but it can't keep climbing like this for too much longer, I hope.

I think the deals will be more prevalent. But that's one little thing. I'm working on the main thing. Let me ask you, how long have you been doing that? You got 30-something people. How long did it take you to get that many people? That was like the first month. And then, you know, I was kind of scratching my head on why I couldn't get more clients.

And then we've been working on the Facebook ad campaign for a little while getting that video made. And hopefully in the next week or so, that'll get pushed out. I've yet to do a deal from that campaign. But I've also yet. Phone ringing at least? The phone's ringing, at least? I'm getting calls from, you know, wholesalers. So I'm adding wholesalers to my list.

I'm, you know, getting calls from realtors that are investor related, you know, and I'm building a relationship with them. That's another lead gen strategy I'm doing is building a list of an investor savvy real estate agents within my market. And I'm putting them into a, you know, every two week email blast, drip, drip campaign with, you know, nothing crazy with like a bunch of information on how the market's doing. And I feel like everybody's doing that. No one reads those emails.

They just delete it right when it pops up. But I'm just doing a little short and sweet. Hey, it's Parker and Casey. Wanted to see if you've seen anything for us lately. Again, just a reminder, this is what we're looking for. Just a little bug in their ear, so to speak, every two weeks. So I have done a deal from a realtor, and we usually have them represent us and then give them the listing on the back end after the rehab. Uh-huh. Sweet. Cool. So those are very creative and outside the box thinking. I love it. So what's your favorite exit strategy right now? Buy and hold?

Hmm. If you would have asked me two months ago, I would have said buy and hold. Now that we've got this quad, we've kind of, we've exceeded our monthly expenses from the past. of income and, you know, we've got enough to kind of play around with as well. So that's the coolest thing, Matt. Just like flipping houses is awesome. But flipping houses, knowing you don't have to continue flipping houses to pay the bills is even more awesome. So that's the biggest thing for us was passive. But now that we've done that, so I would have answered, you know, rental properties and just holding it long term. But now we're kind of changing it up.

I'm in the process of having the quad be the last one for a little while, and we want to put some funds together now and kind of break into hard money lending and give that a whirl. I just look at it where it's extremely hard to find good rehab projects right now. I mean, the last four that I've looked at, we've either been bid out on or they just simply don't work with how high the bid is and what the sellers want. It's just there's two unrealistic parties and they're just clashing and it's not working for us. So I figured if I could just be the lender on these deals that I'm not subject to just the deals working for me. Now I can work with all the other investors who are seeing every deal in my market and I can decide which one I want to lend on. And really, I mean, with the spreads that I've been hearing from local investors, the hard money lender is making just as much, if not more than the rehabber. There's a saying, like, when I got into the fund world, when we opened up our fund,

the guy that kind of mentored me through that whole process and helped me set it up. He says, Matt, at the end of the day, like the real estate market, it comes and goes, but the money is in the money. I like that. I just never. It's kind of what he meant by what you're just saying right now. I was like, you know, when it's competitive, it's in the money. When it's not competitive, it's in the money.

Like, the money business never goes away. Exactly. Yeah, exactly. Super. So you might have answered this already. in multiple ways or multiple times during our conversation. But what are you noticing in the market and how is it changing the way you do business? Like what are some intentional things you're doing with the changes that you're noticing?

Change-wise, it's just really tough. I've noticed the amount of people that are trying to get started have increased. You know, when you say, when you ask someone that sparks up a conversation with you, well, how many deals have you done? I said, well, there's a lot more people saying I'm looking for my first one still. I don't know if that really means anything or not, but it's just very competitive and hard to find deals. So we're trying to do some creative things, like I've said, with the realtors and working with other wholesalers and partnerships and kind of shying away from direct mail and working in other strategies. but, man, I mean, it's just persistence like we were talking about earlier.

There's really, I don't have any golden ticket. I'd love for my flipping business as far as here locally in Georgia. I'd love to be doing more rehabs and higher volume right now, but it's not there. But that doesn't mean that, you know, I'm backing out. I'm just going to sit here and keep doing a deal here and a deal there, keep the wholesaling going on in Charleston, get these rental properties flowing. And when it starts to pick back up, I'll be here. I'll be ready for it.

Totally. And your focus was right in the beginning, as I would suggest to everybody. You know, you focus on the streams of income first, focus on the piles of income later. And now that you've got the streams of income in place, you can be selective and choose those big pile of money creating deals. Exactly. And that would be so much more stressed out right now. now if I didn't, you know, have everything paid for from these rentals. I mean, that's,

that's just the biggest thing for me. I mean, if it, it really is. I mean, I heard you say in your podcast, flipping houses is a different type of job, but it's still a job if you have to do it to pay your bills. It was great at first when I was comparing it to, you know, my nine to five, but when you compare it to mailbox money, I mean, nothing, nothing really beats it. There's no comparison, right? Not at all. Sweet. Cool.

So what are you most excited about then, about the future of your business? Oh, man. I know there's a lot in the future. I really don't even know what it's going to entail because I wouldn't imagine, you know, doing what I'm doing now two and a half years ago, three years ago. But, you know, really what I'm excited for is, I guess, short term to get into this hard money lending world and see how I personally like that in comparison to being being the flipper, being the rehabber, and in there managing the contractors and kind of weighing those

pros and cons. I like hearing from both sides. And it's interesting to see why people like this side better than this side and then hearing somebody else say the complete opposite. So I'd like to see how I feel about that. Other than that, still trying to get up that. you know, in the next, let's see what is the goal of my goal sheet here.

A hundred properties by 30. I'm 26 right now. So the next four years, I'd like to get to 100 units. And I think once I get to 100 units, I'm going to kind of take the path. Disappear? That my father.

No, not quite disappear. But my father's in, commercial. You know, he was in residential all his life as a, he was a property owner and manager of a couple of apartment complexes. Oh, well, there's the secret parker. That's why you're successful. How much does your dad? How much does your dad help you? It's all because of my dad, every bit of it. I mean, I, it was funny because I would, he was bummed. I would come to him for questions and stuff on rehabbing houses. And he's like, listen, I mean, when it comes to managing rental property,

and I can tell you almost anything you need to know, but I've never flipped a house. It's honestly, yeah, I had to go to, I mean, I just followed your advice. I went to my Rhea meetings and I went to the guy with the microphone. First thing I did and just asked a bunch of questions and those became my, you know, local coaches and that got it done. But, but yeah, what I was getting is I'd like to move kind of every 50 to every 100 units, possibly package those deals up and sell them. and 1031 or whatever I can manage into commercial, whether that's a triple net lease or industrial

or retail. I'm not really sure yet. You know, that's far enough out to where I haven't really needed to put a whole lot of thought into it. But I've seen him the way it's just bigger numbers. It's the same thing, bigger numbers and less of a headache. I don't really want to mess around with 100 different tenants when I can. could get a similar paycheck, possibly a larger paycheck, depending on the deal. And I only have,

you know, if it's multi-tenant, then, you know, maybe five or six tenants to worry about. And they're all larger corporate businesses versus, you know, a bunch of Joe Schmo's occupying the home. So that's kind of something that I'd be looking to move into is more of the commercial realm. And then also go back and then start with single family again, build up to another 50 to 100 units and do it again. kind of rinse and repeat that process. Right. It's so funny. I'm just hearing you talk right now,

and I just think about, like, it wasn't too long ago when this type of stuff wasn't even in your mind. Oh, no. It's great. It's great. It's inspiring.

Drinking on the weekdays was the only thing I was thinking about. That's right. That's right. And that's why we got along so well in the beginning. Yeah. Right?

But super, dude. If, hey, if anybody wants to reach out to you, and I could only imagine that they do, what would be the best way for them to do that? Yeah, so they can check out my page on Facebook company page, Barrington Acquisitions. B-A-R-R-I-N-G-T-O-N acquisitions. Message me on there or find me personally on Facebook, Parker Stiles.

You can message me. All right. Not really anything. Just reach out. I'm happy to help. If anybody's in my local market, love to go out to lunch with you and see if we can strike some business up. It's a people business.

Right. Be careful with that. When I used to advertise in the beginning or promote the hot wings and beer with Matt, boy, I got hot winged out. I'm not to mix it up. Careful with the food introductions or the food invitations. Anyway, that's Parker Stiles. Thank you, Parker.

It's been an absolute pleasure. We'll certainly do it again. This will not be the last time. The best to you and yours say hello to Casey. And we'll see you soon. Definitely, Matt. I appreciate it. Thanks for all you do.

All right, you bet, dude. That's it for today. I will see you next week on another exciting episode of Epic Real Estate Investing. God bless to your success. I'm Matt Terrio, Living the Dream. You've been listening to Epic Real Estate Investing, the world's foremost authority on separating the facts from the BS in real estate investing education. If you enjoyed this show, please take a minute to visit iTunes and share your thoughts.

Thanks for listening. We'll see you next time here at Epic Real Estate Investing. investing with Matt Terry O. This podcast is a part of the C-suite radio network. For more top business podcasts, visit c-sweetradio.com.