Epic Real Estate Investing - Mastermind Monday - Tim Mai and Tom Krol | 472

Episode Date: September 17, 2018

What would you do in case your property is ruined in a disaster? Find out on today's episode with the real estate experts Tim Mai and Tom Krol! Learn what the unknown equity list is, how to pay off the house with an insurance claim in case of a flood, and the difference between passion and purpose in the business. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hey, Rockstar. We're getting really close. We're only about a month away, and this is going to be the last announcement about the Epic Intensive. I'm getting together with a group of aspiring real estate investors to turn them into badass investors. We're going to do it all in person. We're going to work elbow to elbow, shoulder to shoulder. And we're just going to get down and dirty. We're going to get it done. If you'd like to join us, go to Epicintensive.com. Epicintensive.com and grab a ticket. The prices will be going up this week. We're reaching capacity, which is very exciting. I can't wait to see you all. that have already signed up. And for those of you that have been on the fence, get off the fence. Come out and hang out with us. We're going to be in Boston, Massachusetts. I've never been before. It's someplace I've always wanted to go.

I'm going to make sure we have a really, really good time as well. It's going to be worth every single penny. It's going to be worth your financial freedom. What is your financial freedom worth? Come join us. Go to epicintensive.com. Get all the details. Grab yourself a seat, and I will see you there.

This is the Epic Field Report. Hey, Nate. Good to see you. Remind me, what market are you in? I'm an Oregon. You're an Oregon. Okay. Perfect. Which part?

I live in Albany. I go kind of as far north as Salem area, as far south as Eugene. Okay. Along the I-5 corridor. That's a pretty big territory. Yeah. Got it. Well, you know, I wanted to talk to you real quick because I noticed your big win on

Follow Through Friday of the inside of our Ethic Pro Academy's private Facebook group. Yep. And I read your deal. And I just wanted to talk to you. about it. So it says here is the finished home my brother-in-law built on the lot. I wholesaled him. I got seven grand up front and will be 10% of the net on the back end. So super. Congratulations. So how did you find this deal to get it to your brother? Yeah. So it was a, the lot is actually around the corner from the house that I live in. So it's not far from me. And I've

seen it before because I'm also an appraiser. So I drive neighborhoods a lot doing that. And it was a burnt down house. And there was just a, pile of rubble sitting there on the lot. And it turned out that I marketed to it and the lady was behind on her taxes coming up on about three years. So it was about to start the foreclosure process, the tax foreclosure process. So I just marketed to her and started going that way and you know, went back and forth, back and forth. It was kind of a, I think it was about three or four months of negotiating with her to finally get the price that we got on and then got it. And then we had to do a double close and double close it to my brother-in-law who ended up building a house

on it. Perfect. Perfect. So market it to her. You just send her a letter or a postcard? Yeah. I just typed up at the time I wasn't doing, now I'm doing like direct mail. This was the whole lot thing happened a while ago in the sense of when it started.

And I just typed up on my computer and stuffed in envelopes, hit a stamp on it and sent it out. Awesome. So your plan to exit, you wholesale. and the money that you made, you put seven grand in your pocket, your partner on the back end for 10%. What was the biggest lesson that you learned in this transaction? Follow up. Yeah, right. Keep going because at first we were kind of far apart.

I think I ended up getting her for 27,000, I want to say, or 24,000. And at first she was wanting like 50 something to begin with. And then, you know, just through the follow up over those three or four months, we finally came to, you know, her motivation started going up the closer it got to her having the tax foreclosure coming. And then that's when we started, you know, coming more to what we needed to be at. So that sense of urgency started to build on her side. Yeah, exactly. Perfect.

So your method of follow-up just kept on dial on the phone. Is that what you did? Yeah, phone calls. Exactly. Yeah. Once I got her number, that's exactly what it was. Just calling. There was no need to send any more mail once I already had her contact.

Sure. Okay. So, Nate, you're a part of the flight club and part of the, your first deal course, what have you found most impactful from there? Oh, man, you said something in there to the effect of, you know, the more high-tech things get, the more low-tech your customer service needs to be. And I think that for me, because, you know, I'm definitely a gadget-type guy and I try to automate as much as I can.

But to have that mindset of, you know, actually just talking to people and being of service to them, you know, just trying to build relationships and network is definitely, a big takeaway that I got from that. That's awesome. So how are you going to celebrate? I'm probably going to go to a Brazilian steakhouse. Oh, you like me too? Yeah, I get the meat sweats. Those places are the best. Well, enjoy. Keep doing what you're doing.

Stay in touch. Let us know how we can help, all right? Sounds good. Thank you. This is Terrio Media. Yo, yeah, we got the cash boat. You didn't know, home for you got to. Yeah, it's smoke. So welcome to the epic real estate investing show. I've got a fantastic show for you today. What I did is I went through my Rolodex and I pulled out three of the most prolific and successful

real estate investors in the country. I just kind of brought us together and I'm going to have like a little mastermind session. So if you want to kind of, you know, just be the fly on the wall and listen in and enjoy. We did this a couple weeks ago. I had a great response and I just thought, let's do it again. So I am joined by two of them. The third one hasn't shown up yet. Maybe he'll show up in the middle of the show.

But let's go ahead and I'll introduce you to who is here right now. So Tim and Tom, glad you guys could make it. So just start by telling me a little bit about yourself, what market you're in and what your current business looks like today. So Tim, go ahead and take the lead. Yeah, sure. Yeah. So my name is Tim Mai.

I'm here at the Houston, Texas market. I've been in this market for a long time since 87. but I started investing in 2002 and I have done everything from wholesale to rehabbing, landlording. Nowadays, a year ago, I started my hard money lending business. I've been doing a lot more of that lately.

But yeah, you know, we do all kinds of different marketing and we'll talk more, I'm sure, later, but one of the big ones that we've been focusing a lot on is MOS listed properties, normally don't get talk about a lot. Right. But we'll definitely talk about that. Hey, super.

Thanks, Tim. Tom. So, Matt, I got to tell you, I always get told that I look young from my age, but Tim, you're 16 years old. How are you doing this? What is going on around here? I do not look young for my 39 years. I can tell you that anymore.

So Tom Crowell, I am a wholesaler. I run a wholesaling company. here in Port St. Lucie, Florida. It's a little tiny, tiny town. So if I can do it, anybody can do it. And I'm also a wholesaling coach. My wholesaling business runs 100% without me. And that's my most favorite thing in the whole world. So besides meeting my assistant on Thursday for brunch at 10 o'clock, which happened today, that's really my only involvement. Sometimes cherry picking a property for my portfolio, but that's about it. The rest of the time, got five kids who require a lot of attention. and I'm happy to spend time with those.

So that's the majority of my day with Julian and the five L's, Logan, Lacey, Lily, Lucas, and Levi, and our dog, Lucy. I love that. It's good. You know, before we started recording, we were just talking about rich dad, poor dad, and some of our favorite quotes. And it's Thomas. Sounds like you have a real business by the definition of that business in that book.

100%. Yeah, I mean, Robert Kiyosaki is, I'm really proud to say is now a friend of mine, but really I owe a lot of it. It started with Rich Dad, Dad, Poor Dad, but my brother, Todd Tobac, you know, he got me really clear on what do you want. I said, I want a business, not a job. And, you know, there's a lot that goes into that having a cap on your financial aspirations

and all that stuff. But starting with the end in mind and just using my mentors to get where I want to be, that's, it's awesome. And Rich Dad, Poor Dad, Planted an awesome seed. There's no doubt about that. He's kind of the mentor for us all in the beginning, right? Yeah, right. For sure. So, Tim, I mean, you kind of touched on it in your introduction and we'll talk about my first question was, what is your best source of off-market deals at the moment? But it sounds like you're picking on-market deals and you're having a lot of success there. Explain to me how that's working for you. The best source for off-market deals right now is actually targeting very specific type of properties and mailing to them. So we're doing additions, square foot.

So we're looking for really small properties, six, 700 square feet, adding another, you know, yeah, five, you know, getting them to about 1,500 to 1,500 square feet, basically. So we're looking for, you know, so we look for these like sort of obsolete properties and turning them down. Sometimes if it's a neighborhood that makes sense for us to turn into a duplex, so we'll get higher rentals, we'll do that. So that's a, so we don't go the, you know, the tradition. traditional, the traditional direct mail to absentee owners and high equity, the same way we used to anymore. Simply because it's just the cost of marketing on those have gotten quite a bit high for our market. The internet kind of broke up just a little bit, Tim.

So how are you actually contacting those owners? I didn't hear that part, maybe. Oh, okay. Yeah, no, we do direct mail to them, but we're targeting, you know, a very specific market. Got it, got it. All right. I missed that part. Perfect. And then tell me about your MLS deals that you're doing. How is that working for you? Yeah. So we basically created a software, have virtual assistance that runs them. And we sent out

anywhere from 100 to 200 offers a day, just blanket offers for properties that are 250,000 under in our market. So typically those type of properties, cash flow type rentals type properties. And yeah, we just do, blind offers and that's you know that's how we do yeah a couple weeks ago a girl christie certwell was on our mastermind monday session and she works here in in long beach california and that's kind of how she does it she's how she got started sending out 200 offers a week and uh you know just whatever stuck is how she got her deal so um i imagine in your market though if you're looking for cash flow and deals you don't have to get the deepest of discounts for those properties to actually work for you, right?

That's correct, yeah. I mean, some of them we do get pretty good discounts, especially if they need a lot of repairs. Yeah, I mean, they, you know, most of them, you're right, they don't meet the normal rehabers margin, but for a landlord margin, they definitely do. But, yeah, sometimes we get lucky. And, you know, the more repairs the property needs,

typically is the deeper the discount that we get. Right. Tom, we'll get you in just a second, but I got another question based off of that. Tim, so when you send out 200 offers and you do it in an automated process, what is your automated calculation for the actual number that Gail goes on the offer? Yeah, so the manual part that we do, you know, is one of the virtual assistants will look at the pictures to categorize the condition of the property.

So is it, you know, excellent, is it good, okay, bad? And based on that, you know, based on the condition, we'll offer them any. anywhere from 50 to 70% of the list price. Got it. And in our market, we have found that the agents are pretty reasonable to list it. The ask is value based on the condition of the property. I've seen markets where even though the condition is really bad, they still list it really high. So in markets like that, we would have to adjust our offer down.

But in our market, you know, 50 to 70%, depending on, you know, if it's bad, is 50%, if it's good, it's 70% like that. So you're using the listing price as the starting point. Correct. Got it. Cool. Thanks. So Tom, what's your favorite source of off-market deals at the moment?

We are still using direct mail. We love it. Yeah, we love direct mail. It's consistent. It's simple. To Tim's point, the cost for marketing, the conversion rate, they've gone up a little bit. But we find that it's still pretty much offers. What we've gotten really innovative about is coming up with new lists.

Tim, kind of you touched on that, but really specializing the list. One list that's been really, really hot for us right now is been the unknown equity list. There are a few lists that are not really used heavily. One of the known criteria is how much equity is unknown. What was the last sale date, unknown? That's something that has been getting missed a lot lately.

And then just your good old tax-deligant list directly from the county is best. Code violation list. Those lists are just consistently. Now, in our tribe, we have a lot of people who like they do cold calling and they have found other ways to find these properties. But for me personally, in Port St. Lucie, I still like direct mail. It crushes. It's so consistent.

It's like a machine. It's amazing how what the calling is getting right now. I mean, this is something what I did in massive volume, probably 11 years ago. And I never want to do that again. And the do not call list came out. And I can kind of crush that whole thing. Everyone just kind of stopped because everyone was afraid of that DNC list. And now I was like, this is the greatest thing that's slice bread.

I was like, are you nuts? Like, I'd rather much, you know, perfect my marketing and get people to call me first. Well, yeah, I think, you know, it really comes down to, in some markets, it's really cost effective, right? Because some of those competitive markets, and if you have that grit and that determination and, you know, you know, we're kind of like already a little bit seasoned. So I don't want to say that where's the edge off? But I think what happens is like, you know, we get, we kind of build a life of as few inconveniences as possible, right? So I think what happens that, you know, if you have a guy who's energetic and young and he wants to make, you know, use a triple dialer and make 300 calls a day, I think it's a numbers game. I mean, they're going to find deals on that cold call.

That's a big if, Tom. And there's a lot of people out there saying, I love it. I love it. I say, you haven't done it long enough. You haven't done it much. Well, I will say this. Get someone else to do it. Right. Right. That's the key. Don't do not do it yourself. Yeah, and I think when you combine it too, like if you combine, so for example, the text delinquent with the co-calling, right?

Like when you combine specialized lists like that, it becomes a lot more effective. Because, I mean, we do skip tracing on tax delinquent and we'll call them. You have a virtual assistance that we'll call them. And so we get a much better return than just calling some random list or, you know, not as qualified list. Right, right. Yeah, no, I was, I was a 200 dials a day. We didn't have robodilers back then, but I did 200 dials a day, and I did that for about a year and a half. And anyone that says that they love cold calling, it's great. I was like, you haven't done it long enough. It takes a very unique individual to be able to do that for the long term. But God bless them. If it's working, I ain't going to get in your way. If you're happy, then. I'm just curious. Tim, you said 200 offers a day, and I'm just thinking about this. I mean, that's pretty interesting. How many, what's like, what's like? some of the numbers on that conversion ratios. I mean, are you getting mostly rejections? I mean, if it's all right, I'd like to just kind of pick your brain on that just for a second. What does that look like? Is that a day or a week? A day. Wow. Okay. Yeah. Remember, Houston market's pretty big.

So like we have that many, you know, listings for us to make offers too. Out of 200, you know, we'll get like a deal a week out of that, you know, so the conversion is not that great. You know, it's mostly automated. And so our cost of acquisition is the cost of the virtual assistant, basically. And a lot of them, you know, they won't bother responding to us. Some of them will respond and give us an amount that basically they counter us. And it's the ones that counter us are the ones that we go after the most, because now we have a dialogue going and we'll build deeper relationship with them even if it's not for this deal, for future deals. That's awesome.

That's awesome. Yeah. Do you get a lot of kickback on that? Just like a lot of people who, I mean, have you been doing it for a long time? Or did you just start? I'm just wondering, like, what kind of long-term effects in the market that would have with? Yeah, no, I haven't gotten any. I mean, I'm not the one to read the email, so I'm kind of filter, shelter from the responses.

But generally speaking, no, I mean, you know, because of the, so, for example, If it's an excellent property, we don't send them offers. So what that means is that, you know, if it's such a great property, you know, they're not going to see our low ball offer. And so back then, when we first did it, and we sent an offer to everyone, we get more, you know, negative responses that way. It's like, it's a perfect condition. What are you doing, you're lowballing us, right?

Right. Right. But for the most part, no, I mean, you know, the agents are willing to work with us. Yeah. And is this just an offer sent via email to a realtor's email address? Correct, yeah. That's how it goes? Yeah. And, you know, it's sent from a Gmail to their account.

So it looks, everything is very personalized. It's mail merge, you know, that. So it is not like sent from a mailing list or anything like that. And the email is mail merge. So it's very specific to that property, all the numbers that has to do with that property. Awesome. Awesome. You create that yourself?

Yeah. I sure did. I guess. That's funny. So, Tom, let me ask you, what trend are you seeing in your business or your market right now that has you concerned? And how is it changing the way you operate? Yeah. So I think that I've kind of already brought it off.

I think in some of those bigger markets, Dallas, Chicago, Houston, San Diego, Los Angeles, Miami, me when those marketing channels start to change, I think what you have to do is you don't have to panic, right? You don't have to switch and pivot, but what you can do is you can double down, right, because the new guys coming into a market are not going to be able to keep up with the guy who's going to double down on the marketing channel, or you can pivot. But I think the key takeaway here is that, you know, you're asking me a question of what am I worried about? What have I seen changing. I think the fact that you're asking me that question, it shows who you are as a person, right? Because the reason you're successful, Matt, right? It's because you see things changing because

you're tracking your numbers, right? So I think the key is for anybody who's listening who's just getting started, when you talk to someone, you know, even anyone who's making even 50K a month or more, you're going to find that those people are noticing things changing in all areas because they're tracking their KPIs. So I think that's the first thing. And the second thing is the other way I think to solve that problem is to go big in one channel. So when I talk to somebody and they're struggling, they'll say, well, you know, I did a little bit of this and a little bit of that. And I sent out some bandit signs and some letters and talked to some agents. But typically the guys and girls who they just totally dominate one channel in their market, when things start to get a little shaky, what I notice the successful guys and girls are doing is they just double down.

you know, they increase it. They don't, they don't pivot right at that moment. So, um, but yeah, I think in some of those bigger markets, you're seeing some of that. Yeah, I kind of agree with that. Double down, I mean, definitely, I mean, that would certainly work. I think what's more important is to double down on the consistency to make sure that you don't skip a day, right? Yeah. You know, anyone can be consistent, but not everyone will. And for me, I see that as the opportunity. So, Tim, what would your answer to be to that? What has you concerned and how is it changing the way to your business. You know, we do look at like the niche markets and like specialize and get really good with those, you know, so, so a lot of what we do, like I said, you know, other people don't do it.

And in terms of the consistency, I try to find ways that I can automate as much as possible. So that way the consistency is not dependent to be consistent, you know, whether it's software, whether it's virtual assistance. It's like, you know, that system, you know, having that system run like Tom was saying earlier, about his business, you know? And so, yeah, that's how I find to be consistent. But I love going sort of deep into a specific niche within the market, you know, a niche that not so many people compete in. Narrow your focus rather than that focus being dispersed, right?

Right. Super. Let's see. Let me ask, I got a list of questions here, but sometimes they get answered when I ask another question. So let me ask you this, Tom. What's the biggest mistake you've made this year and what did you learn from it. Oh, man. Are we talking personally or in real estate?

I will tell you. Which one of the five kids is it? Well, there were all surprises. I will tell you that. So here's what I would say is I absolutely know the answer to this question. And I have to thank a few people, definitely, Jason Medley from Collective Genius and definitely Matt Saunders from Collective. genius. But here's what I will tell you is that what I learned is whatever you appreciate and whatever you ignore, whatever you ignore, it disintegrates and breaks down. And that's what happened with my rental portfolio. So what happened was I would make a lot of money. I'd cherry pick a property for my pipeline. I'd pay for it free and clear. I was like, this is great.

If you would have asked me how much money I was making on that portfolio, I would have spit out some really big number. And one of my mentors and my older brother, Tadai, Tobach said, you're crazy, you're not making what you think you're making, sit down and let's really deep dive this. And I did that. And I will tell you, the lesson I learned is, number one, there's no such thing as passive income that does not exist. The best, if you want a list of super hot motivated sellers, go find a group of landlords who think that rental income is passive. And those are the best motivated sellers you'll ever find. And you have to just pay attention you your number. So somebody who preaches like me about all the time about numbers,

you can't just buy rental real estate and ignore it. You've got to be on it. It's now part of my weekly meeting. It's the first thing Stephanie and I discuss on Thursday mornings is the rental report. That was my biggest mistake was buying these properties and collecting them and just thinking I'm going to be living on passive income. Right. And no good. You got it. You got, whatever you appreciate appreciates. Absolutely. Yeah. Passive income doesn't mean uninvolved income. Right. Absolutely. Yeah.

Yeah, there's almost like zero passive income any way you look, right? Right. It doesn't exist. Even in your 401K, you have to look at it every quarter to see what it's doing, right? Absolutely. Yeah, you can't be just, there's no set it and forget it. And I'll tell you, just in 90 days of just every week, weekend and week out, adjusting and massaging these numbers, we have made tremendous, I mean, it's going to, it's done a complete 180.

So you got it, yeah, it's key. That's my definitely biggest turnaround this year. That's good, good. Tim, your biggest mistake this year and what have you learned from it? Do I have to talk about it? It's a lesson, right? We're going to share the lesson. And it's funny because it seems like I never learned this lesson, I swear.

But the lesson is like, whenever I rehab a house, I like to get the most money for it. And sometimes we get an offer that's like, oh, it's always. okay, you know, and then I don't take it. Sometimes I regret it, right? So we have a property that, you know, after we, so we bought it after it got flooded. And then this is not our Harvey flood. Houston has so many floods in the last couple of years. It's been crazy. But anyway, so we bought after it was flooded. We fix it up. And doing, we doing us fixing it up, it got flooded again. It's so funny.

It's like, I don't know how it works, but we put, we put it in the wood flowing on Friday and Saturday morning it got flooded. Oh, wow. Yeah. Anyway, so we fix it up and then we try to sell it. You know, we got an offer. It wasn't what I wanted. My wife said, you know, it sounds good.

Let's do it. I was like, no, let's hold out for more. So we didn't sell it. to that buy and then you got flooded again. I knew that was coming. And, you know, and yeah, and now we're, like, having a really hard time selling this thing. Yeah, and now we're, like, way over budget

because all the flood fixing that we have to do. And, but, you know, and then, and then Harvey hit. So it's like the third flood for this house in a year and a half. I mean, it's crazy. And, but what I've learned from it was navigating the, the, the, the insurance claim, you know, and yeah, so lucky is that we know that property was in the flood zone. So we had flood insurance. A lot of properties in Houston that was not in a flood zone that got flooded, that, you know, people kind of kind of get locked out with that. But so through that process, we learn, you know, how to, you know, how to present our, our claim. So that way, you know, we get more. You know, you know, we get more. You know, you know, we get more. You know, you know, you know, we get more. money for it, we get the money faster. So now, you know, I mean, been through this house, like now I don't mind flood homes at all. To me, it's like, if it floods every few, you know, every year, every few years, that's, that's even better. It only takes a few floods and pay off

the house. That is a positive attitude around flooding. I love it. Yeah. You know, my, My two best performing investments last year were houses that burned down. So I get it. And we had them both insured for replacement value, which was double the actual market value. Wow. Those were fantastic. Those were tenants? Those were rentals?

Yeah, both rentals. Really? And they both burned down. They did. Was that in those California fires or was it just? No, it was actually both in Memphis. And then one was an electrical fire and one was a misdemeanor. So you're kidding.

Wow. No. Here's a funny story that the one of the houses that burned out was actually the first one that burned down. I was in Memphis for the only day that year or this year. I was in Memphis for the only day this year touring all of my rentals, which I don't think I've ever done. I just made a visit to look at everything.

Right. And we had 16 that we were going to stop by that day. And so we grouped them all together. We went by the 15. and we were just tired and Beale Street was calling our name. We were ready to go have a beer. And we said, I was like, then they're all looking the same at this, like looking exactly the same at this point.

And the other one was just a little too far. I was like, eh, that's just, we'll forget it. Everything's fine. So I went and I actually got a text message from my property manager while we're in the bar saying that one was on fire. Oh, my God. I was like, oh my God, if we would have driven by it, at that very moment, we would have been watching it burn.

And then I started, then I really started to panic. I was like, oh, my God, the insurance investors are going to investigate. And I wonder, what was I doing in town on this? The one day. I was just like, I was, yeah, anyway. Matt, do you get them from clothing or do you just buy them out there because you like the market? I'm just curious. No, we got our own team in Memphis.

We got our own team in 10 different markets. Oh, you do? Oh, okay. Yeah, that's awesome. So, yeah, I had some properties that I bought out of state, but I've been struggling with them. But it's so I kind of just like brought everything back home. But that's interesting. That's good stuff.

Yeah, I know a lot of people in that market. It's a good market. Yeah, it's a good market. And when we talk about uninvolved income passive income, we have one person in the office that manages the property managers in all 10 states. Wow. If you have them in 10 states, that's awesome. Yeah. I know.

Or not 10 states, 10 markets, not 10 states. Okay. But, sweet. So, all right, let's turn this to a more positive note. What's the best book you've read in the last 12 months? And what did you find most valuable about it, Tom? Oh, man. You're a big reader, I think, right?

I am a huge reader. It's going to be hard to narrow down one. But I will tell you the best one that I have read for, well, I will tell you this, the best one, speaking of that rich dad, poor dad book behind you was Michael Singer wrote a book called The Surrender Experiment, read that book. total game changer, went to lunch, got a chance to meet Robert Kiyosaki,

turned out that he was into that book, huge, big fan of Michael Singer. And we started talking about that book, and that's how we ended up hanging out and it's awesome. So, yeah, I mean, but there is a ton of them. The surrender experiment by Michael Singer.

What about? Oh, it's a great book. I'll tell you what it's about. It really comes down to one passage in the book. It's all about learning. that in this life, there are no inconveniences. There are only opportunities to serve. Got it.

So all these people who are struggling and they're saying, you know, what's my why? You know, what is this thing driver? One thing I've learned, I used to always tell people, you know, you could keep discipline. I'll take passion. It's much more powerful. But what I really found out is that purpose, that's the driver. Forget. Purpose will leave passion in the dust.

And, you know, one thing that Robert Kiyosaki told me was, he said, that passion is what you want to do and purpose is what God wants you to do. And I am telling you, that is such a message this year. Wow. It's just been really. I love that. Yeah, I love it. It's a great.

It's everyone should check it out. That's awesome. I think it's the book called Driven or Drive. I think it's a pink cover, but it's about creating your, putting your employees and your team in positions where they actually have purpose. And that was the biggest motivator and driver of the successful company. So, sweet.

Oh, yeah. Awesome. Tim, Yeah. Best book, last 12 months, what did you learn from it? Or what did you find a fight? Yeah, yeah. The five seconds rule, I don't know if you heard, by Mel Robbins.

Yeah, that came up on our last episode, I think. So it's not about how long you can keep the food on the ground that you dropped. You got five seconds. Yeah, you know, so I love that book a lot. You know, one of my weakness in terms of discipline has to do with, working out. You know, it's just something that I haven't, you know, made a priority in most of my life. And so, so, yeah, just like just going to the gym, you know, like it's a big, big effort for me. And so, yeah, that's my favorite book for the last 12 months.

So what is the actual five-second rule, is it? Yeah, so basically anything that you want to do, you know, the best way to get it done and overcome your roadblock of not your procrastination is to count down five four three two one and then take off is where you go and take that action right so so that way it it it blocks your brain by counting down it blocks your brain from trying to get out of that because like you're focused on the counting and then you know yeah you count down and then you you you go to work with that so in my case you know it's like getting out of the house to go to the gym you know yeah and they wrote a whole book on that.

They wrote a whole book on that. You know, that book works. That book works. I will tell you, Mel Robbins is a genius because, you know, what happens is something as a commitment you make to yourself is not,

it's the countdown. It's not the activity. It's this one thing. If I do five, four, three, two, one, and I mean, that is another,

that's a fantastic book. It works. The whole book is about the scientific reasons about why it works and the psychology. Nice. It's a game changer.

All right. Shoot. That's two sessions in a row. I have to check it out. So Tom, what's in your future right now that has you most excited and why? Oh, man. We got a lot of good stuff going on, brother. You were an excited individual, so I knew you're going to love this question. Oh, well, I'll tell you what, if you gain 20 pounds and you come down to Florida and start cutting lawns and then you move into real estate, you'd be exciting too, because I do not body type for the lawns that I was cutting before I got into real estate.

You thought you looked a little different. I will tell you. So I've got a lot of stuff. You know, one of the things on my plate for this year is to say no. I have seen a lot of very successful men and women drown in opportunities. So one thing I've been working on is what to say yes to. But I am working on a super exciting project with my stepbrother Todd Tobach called Next Level wholesaling. And I'm working on a really exciting program with Brian Tripp called Real Estate Investing Live.

It's going to be a nationwide, for lack of a better word, RIA meeting. So we're working on that. We've got some really awesome things that we're working on for the wholesaling, Inc. The main, our main coaching product. So it's mostly everything I'm working on right now is in coaching. The wholesaling business, it essentially rent itself. Right now we're looking at bringing in some subject to. We're kind of predicting that there's going to be a little bit, some of the air is going to be let out of the economy.

So we're kind of stashing a lot of cash right now and getting. getting ready to find alternatives that we can pivot to when that happens. So we're doing a little preparation there. But yeah, that's what the next, that's what the rest of this year looks like for 2018. Awesome. Sounds great. I'd be excited too. Yeah.

Good stuff. Tim, what's in your future that has you most excited and why? Yeah, so two things, two things. Number one, I started my hard money lending business a year ago with two partners. And that's been, you know, growing really nicely. Is that national, Tim, or is that just in your engineering? just in Houston right now. Eventually, you know, eventually, you know, we'll take it further than that.

But yeah, right now it's just in Houston. So it's really cool, like, to kind of go from, you know, an investor to now a lender. It's a different experience. I like it. I told my assistant, like, I never really was interested in the lending business that much. Because to me, I think it's a really boring business. And now that I'm in it, I'm like, damn, this is a really boring business, but it makes really good money.

I think the older we get, the more boring, the better. Yeah, exactly. Yeah. You know, it's like, yeah, I mean, I don't have, you know, it's, yeah, I mean, yeah, you don't have to do all the work that you have to do as an investor for sure. I got a good friend, Joel Block. I don't know if you know Joel, but he's got a saying, like, you hit a certain level and you really discover that the money is actually in the money, right?

I agree with that. Sounds like you're experiencing that as well. Great. So that's number one. What's number two? Yeah, so number two is, so part of Harvey, the city of Houston was awarded a billion dollars from the federal government. And right now they're working on, they're putting up bids for a $400 million

contract to remodel low-income neighborhoods in Houston for the homeowners that were affected by Harvey. And they're going to work this $400 million to six different companies. And we're applying to be one of those six. And so, you know, if we get this contract, I mean, you know, it'll be a lot of work. But to me, it's just really cool to make that kind of a difference, you know, from a disaster like Harvey, you know. That's awesome. Sure.

Yeah, that's awesome. Yeah, you're going to be busy for a while with that. You have to, like, rehab five houses a day for the next five years. Yeah. Yeah. Yeah, well, you sub it out, but yeah. Quite the infrastructure to build, but good luck to you. That would be a great story.

That would be awesome. Yeah. Super. So, Tom, if anybody wanted to get in touch with you, what would be the best way for them to do that? Wholeselling Inc. www. WholesalinginC.com is the best way to do that. And, yeah, we have some awesome stuff up there.

We have an awesome event coming up in North Carolina that we're going to, anyone's invited to so they can check that out. It's going to be pretty cool. All the info is right there at wholesaling, inc.com. That's it. Perfect. Great. Tim, if someone wanted to get in touch with you, what's the best way for them to do that? Yeah, so if you're in the Houston market, go to Texas Fastfunding.com.

Texas Fastfunding.com. If you're, you know, outside of Houston, go to do deals cash.com. I have an affiliate, you know, to loan money outside of my market. Super. And Facebook me, of course. great great well thanks for participating on this episode of master my money let's do it again soon yeah damn sweet all righty so if you'd like to do deals you'd like to build well stay tuned right here we're here seven days a week now we hold nothing back as you can tell by today but if you'd like to go

fast go to r e i aease dot com all righty so until next week i'm matt terrio to your success god bless giving the dream yeah yeah we got the cash flow uh yeah yeah we got to We got the cash flow. Yeah, yeah, we got the cash flow. You didn't know, home boy, 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.