Insight with Chris Van Vliet - Ryan Pineda on Building Your Side Hustle, House Flipping and Leaving Your 9-5 Job

Episode Date: November 15, 2021

Today's guest is Ryan Pineda (@ryanpinedashow). Ryan has been in the real estate industry since 2010 and is also a YouTuber and the host of the podcast "The Ryan Pineda Show". He joins Chris Van Vliet at the Blue Wire Studios at the Wynn Las Vegas to talk about how to build your side hustle, what it takes to flip your first house, how he built his social media following from 0 to 900k in 18 months, why now is the right time to invest in real estate and much more! For more information on Ryan visit: http://ryanpineda.com If you enjoyed this episode, could I ask you to please consider leaving a short review on Apple Podcast/iTunes? It takes less than a minute and makes a huge difference in helping to spread the word about the show and also to convince some hard-to-get guests. For more information about CVV and INSIGHT go to: https://podcast.chrisvanvliet.com Follow CVV on social media: Instagram: instagram.com/ChrisVanVliet Twitter: twitter.com/ChrisVanVliet Facebook: facebook.com/ChrisVanVliet YouTube: youtube.com/ChrisVanVliet TikTok: tiktok.com/@Chris.VanVliet Learn more about your ad choices. Visit podcastchoices.com/adchoices Learn more about your ad choices. Visit podcastchoices.com/adchoices

All systems are gathered. Ladies and gentlemen, Chris Van Bleas! Hi, here we go, my friends. Welcome back to another audio adventure on Insight. I'm CVV, Chris Van Fleet. Thank you so much for being back with us inside the brand new Blue Wire Studios at the Win Las Vegas. So good. A lot of people have been asking, and no, I did not move to Las Vegas.

I'm still living in Los Angeles, but I've been going to Vegas. about twice a month now to do as many interviews as we can inside the new studio. It's so good. If you live in Vegas or if you happen to be traveling there, stop by the win and just take a look at the studio. And you'll be blown away by how incredible it is. We're also still doing interviews over Zoom, like the last episode with Darby Allen,

but trying to get back to doing as many interviews as we safely can in person. Like this one with Ryan Panetta. Ryan has become a real estate mogul. And he's just 32 years old, by the way. He also has a very popular YouTube channel, and he's super popular on TikTok, where he's talking about flipping houses and real estate and just getting into that side hustle, whatever it is.

His podcast is called The Ryan Panetta Show. You can find it wherever you're listening to this. It's so full of value, especially an upcoming episode, because I'm going to be a guest on his show. So make sure you, subscribe so you don't miss out on that episode. I'm assuming you're already subscribed to Insight, but if not, if you're not subscribed, take a second right now to click subscribe or follow wherever

you're listening to this. Ryan is on social media at Ryan Paneda show. His website is Ryan Paneta.com. You can find me on social media. I'm at Chris Van Fleet. My website's Chris Vanfleet.com. If you've never checked it out, pop by there, subscribe to the newsletter because we've got some pretty big things coming in 2022. Pretty big. Some live shows with you there. Can't wait to come to your town and do that. And also a book.

Yeah. Writing a book. I'll leave it at that for now. But head to chrisfanfleet.com. Sign up for the newsletters there. And you'll get emailed about everything that we have going on. Our fan of the week is Christian Ingram who says, why are Chris is so great?

For some reason, and the people I look up to are all named Chris from my favorite Power Ranger to my favorite wrestler, Chris Jericho, and now my favorite podcaster, Chris Van Vleet. Every time I listen to Chris, it always inspires me to go make my own content better. In my opinion, Chris is the standard bearer

for any interviewer to aspire to be like. Keep up the great work, and hopefully one day I'll get to interview you. Also, thank you for messaging me back on Twitter the other day and give me advice. I've taken it to heart, and this month I am proud. to say that I will have my own table at two wrestling shows and a Comic-Con.

You're great. Well, that's amazing. Thank you so much for the kind words, Christian. Congrats on taking action. I had an episode. What was that? About two months ago now. What the F are you waiting for?

I love that you're not waiting for anything anymore. You're getting after it. You're making it happen. And I have to agree. Chris is a pretty great name. A lot of amazing Chris is out there, including my grandfather. Chris Alexu, who I was named after. He's still with us, by the way, 89 years old and looking better than ever.

I love it. I read one review on every single episode. So if you have an iPhone, go on over to Apple Podcasts, scroll down, click leave a review, and write a few words on there. And I will shout you out here on the show. All right. This is so good. Let's dive right into it. Please welcome.

Ryan Paneda. Thank you so much for coming by. Yeah, man. Happy to be here. This studio is crazy. Not bad, right? Yeah. Not bad.

This is day one of filming Insight with Chris Van Vleet here at the Blue Wire Studios at Win Las Vegas. Yeah. Not bad. You have a studio yourself, though. Yeah, you know, a lot of people come to my studio and they're like, this is crazy. And, you know, I put a lot of money into it, about $100 grand. And then I come in here and I'm like, okay, my studio sucks. But the fact that you have a $100,000 podcast studio, that says a lot.

Yeah. I mean, I'm all in. When it comes to content, you are absolutely all in. You're a content machine. Dude, you know, I have a good team. And when I jumped into content, I said, you know, I'm going to do this as like my full-time gig. And I was like, I'm just going to create it like a business. You know, I created the rest of these businesses.

They have employees. They have systems processes. Why would content be any different? But, you know, most people who create content, they kind of want to just do it all themselves. or not put in the work needed or hire the amount of people needed because they don't see the return. Right. I think the idea is if you treat it like a hobby, it's going to be treated like a hobby. It's going to pay like a hobby. If you treat it like a business, well, maybe all of a sudden it can start paying like a business. Oh, yeah. It's crazy.

So when did you make that jump into, like obviously a lot of people know you for your real estate, but when did you make the jump into going, I'm going to create content around this? You know, I always knew content was important. And I was always always. he's pretty active on Instagram. I'd post stories and, you know, try and do cool little videos here or there. But, you know, once again, as a hobby. Well, when COVID hit, I was like, okay, where's the world going here? You know, we're all locked up. I can't do anything. What can I do to, like, do something with my time? And I just started looking at it and I'm like, I think this TikTok, I think YouTube, I think all of these are going to get bigger than they currently are. And I think

this is the way the world's going. And it ended up being the right bet. You know, during that lockdown, for me, it was the best thing that ever happened because it gave me time to, like, finally settle down and look at the world for what it was. And I'm like, okay, the world's going digital. And you're seeing that now.

You know, what did Facebook just do? They just said, meta. We're meta now. Like, everything's going to be the metaverse. And I agree. I've been saying that for a while. So now it's like, okay, I'm all in on the digital side

because if you win there, whatever else you have in the real world, these real businesses, they're going to win too. So you had an actual content strategy that you approached this with? Yeah, yeah. So I went into it.

I had zero TikTok followers. I had zero YouTube subscribers. I had like 15,000 Instagram. This was less than a year and a half ago. And I said, okay, I'm just going to put out two YouTube videos a week, one TikTok a day.

Let's see what happens. And sure enough, you know, we start getting traction. I'm like, okay, you know, what do you do when you get traction in anything? You double down. Said, all right, let's put out more YouTube. Let's put out three, four, five, six, seven. And I was putting out a video a day, which is not easy work. Yeah. And, you know, I started doing TikToks. And TikTok starts taking off. And I'm like, okay, you know, what would be the optimal amount of content if there was no restriction on time or money?

Yeah. You know, because, yeah, at some point, I can't put out 12 YouTube videos a day. Like, what's the optimal amount? And I just realized over time that if I could just do the optimal in a way that fits my lifestyle too, I don't want to be a slave to making content, then I'm going to get the best results. And so I think we kind of have finally figured that out. So what's the magic number here? So I've tried YouTube in many ways. I've tried two videos a week all the way up to a video a day. We are currently doing five a week. And I think that's the sweet spot.

Five a week. But you've got a team of people that are helping you. Shoot this, edit this. Yeah. Put it out there. Yeah. So you basically just have to show up and create it. Correct.

Like I walk on set. We roll. I walk off. It goes to them. Everything has a system and a process. Yeah. You're a lot better at delegating than I am. That's a superpower.

It really is. Right. I think a lot of people, especially entrepreneurs that are just starting out, they feel like they have to do it themselves. Because if they're not doing it themselves, it's not going to get done correctly. Right. The fact that you're able to do it. delegate and go, hey, I'm going to hire you because you're really good at shooting.

I'm going to hire you because you're really good at editing. And I'm going to trust what you do. Go. Yep. That's a superpower. Yeah. And I think that's one of the big things that I learned in business early on because, you know, I realized there was a lot of things I didn't want to do in business. You know, when I started fixing and flipping houses, I never once fixed a house on my own. Because a lot of people will tell you, oh, well, you should do it yourself, get your feet wet, know what you're doing. I was like, no, I'm not swinging the hammer. That ain't me. And so I always hired.

And then I was doing that while I was playing baseball. You know, we were talking about my baseball career earlier and how I was playing in Canada. Well, guess what? When I was playing over there, I was flipping houses. Impossible to do both unless you learn delegation. And so it was kind of natural for me to do that. And then as I started to build more businesses, I just realized like, dude, this is very easily repeatable throughout industries and businesses. You just hire people.

You give them a certain process to follow. As long as you hire the right person, then, you know, and your plan's good, your strategy is good. You're going to succeed. I think, though, that the hurdle for a lot of people is going. That sounds great, Ryan, but I don't have the money to hire all these people. Right. Well, and I'll say to that, I didn't either.

It's not something where you just go and hire 10 people tomorrow, right? Like, it's a gradual thing. So when I did content, for instance, I was in lockdown. So I couldn't even hire anybody. Nobody could come to my house and do it. So I said, okay, I'm going to film these myself. So, you know, if you watch my very first YouTube's and TikToks, they're all in my dining room. Okay, just me filming, no fancy set, nothing.

And my wife edited them because she didn't have anything to do. So we're just sitting at home and she edited them and they started taking off. And I was editing the TikToks on my phone. And I said, wow, this is like, you know, this is moving. Okay, I need to hire somebody. So I hired my first videographer, you know, and I paid him three grandkids. a month. And I said, here's what we got to do. Let's just put out three videos a week. I'm going to pay three grand a month. Follow me. Some will be in the office. Some will be,

at a house flip, whatever. And that worked. And I said, let's hire guy number two, number three, number four. And then it just kept growing and growing and growing. And now, you know, we spend about 40 grand a month on salaries for content. And the ROI on it is just, it's a no-brainer. If I could spend $100,000 and, you know, there was a way to do it, I would do it. But right now I think we're doing kind of the optimal amount that we could possibly do. Is the ROI on AdSense and TikTok Creator Fund? Or is it in raising your personal brand so that other stuff will happen with your other businesses? Yeah.

So I wouldn't say the money is in any of the traditional creator avenues of, hey, AdSense or, you know, know, creator funds or sponsors or anything, they're in my back-end businesses. So that's kind of the other part about it too is because I jumped into it with already established businesses, I was instantly profitable. And I can go hire people. And it's kind of like being VC backed in a sense where, you know what, we can go out spend everybody because we can. Yeah. And we can go buy a studio. We can go do this stuff because I'm betting on me, which I'm always going to believe is a good bet, but I also have ways to start making money today. I don't need to be non-profitable for the next years. So I jumped into it from that sense, but what's funny is now we are in the process of making

the actual social media profitable. So I ignored profit on that side for this whole time and said, hey, I'm going to make way more than enough on the back-end businesses. But now we're looking at it and building out the monetization side on social media. So one thing I'm doing is hiring a sales guy to go negotiate brand deals, hiring a speaking guy to, you know, go book events, hiring potentially an agent. We're going to be talking to a few of these big agencies to kind of interview and see like, okay, are you at the level yet where it makes sense?

You know, do you need to do some more stuff? Like, I don't know. Yeah. And just go from there where it's like, okay, let's now make millions on just, hey, Ryan the brand. So then how do you balance real estate and Ryan the brand? Because maybe if you're doing too much creator stuff, maybe you're missing out on a lot of deals that could be happening.

Well, and that's something that most entrepreneurs don't, they're not willing to do. And that did happen. And it still happens today. Because the reality is when I decided that I was going to make content full time, I gave up the opportunity to go close deals. And to me, I'm the best closer on the team. That's just what I think. I've got the most experience. And anytime I went on an appointment,

it was pretty good. But the moment I said, guys, I'm not going on appointments anymore. I'm going to go make these videos. It's like, okay, how much those videos pay you? It's like, okay, well, they don't pay me anything right now, but they're going to. And, you know, my team understood that. They understood, like, that was what I wanted to do. I don't want to go on seller appointments the rest of my life. Yeah. You know, whatever. And so I did it and sacrificed a lot of money while my replacement, you know, developed and got better. And while, you know, content wasn't making anything at the beginning. But now in retrospect, great, great decision. You know, my guy who replaced me doing great, killing it. My stuff's doing great. And, you know,

even today, there's still deals that maybe he misses that I would have closed or vice versa, but it's small in comparison to what this is doing. I feel like the passion, and correct me if I'm wrong here, the passion isn't real estate, the passion isn't content creation, the passion just feels like it's growth and momentum for you. Yeah, I get bored really easy, man. So I think that's why I have all these businesses now,

and I'm always trying to challenge myself to a new thing. You know, I think, I don't know, it's just, it's boring doing the same thing over and over again. And I don't know if I'll ever be the guy that can just grow one business to just crazy levels. Like I've talked to other really successful business people. And I said, what does it take to go from, you know, a million to 10 million? And then 10 million to 100 million, then 100 to a billion. And they're like, well, Ryan, very few people have multiple businesses that are, they're getting to the 100 million to a billion level, right? Like they have one that they focus on. Right. And I'm like, I just, I couldn't do it. I would get so bored doing that same business for the next 20 years to go try and make it a billion dollar company,

nor do I want to put in the work to do that, right? Like, I don't want to go public and, you know, have stockholders that I have to be accountable to and all those things. Like, I'd rather just chill, you know, have a bunch of businesses that, you know, make millions. And I'm good with that. Yeah. I far more enjoy making content and seeing what the content leads to. It leads me to being on shows with you. If I was just flipping houses and becoming a better house slipper, that would not happen. Right?

But now, you know, I was just on a call with Grant Cardone this morning. It's like, dude, Grant Cardone ain't talking to me because I'm a good house sliver. He's talking to me because I have a social media presence. Yeah. There's actually a lot of what Grant is doing is kind of like what you're doing here, too. Like, Grant's done really well in real estate. Also doing very great as a content creator. This is exactly what you're doing, I feel like.

Yeah, he set the blueprint. And if you just watch him, he's, he's done. understands the value of attention. And Gary V talks about it too. Like if you can get attention and you have businesses, they will, like everything will crush. And also too, the way I look at it is there's no better use of my time for myself and for society. You know, think about like, we all get the same amount of hours every week we want to work. Well, I could put those hours towards getting more house flips and doing that. Or maybe, you know, building my tax company or brokerage. Like, I could do those things. But it's not like really benefiting society that much.

Like, yeah, my business and products, they help, but not on the level that if I focus on social media and millions of people see a video that can change their life, you know, there's no better way to spend it. If that makes me as much money as this, I'm going to choose that. But it makes way more. What's so interesting about your content is there's so many people who love watching your content. And they love learning about like house flipping and growing a business. And I think it stops there. Like they just watch it for entertainment. And I find it so crazy that they're learning all this knowledge and you give so much value.

And they don't actually put one foot in front of the other and do anything about it. Right. You know what's funny is like, you know, so we, before we filmed, we had those guys that we were talking to. They were fans. Yeah. And those guys are hustling making it happen. Right. They were saying they just closed like a $60,000 wholesale deal like crazy.

just walking randomly through the wind. Yeah. But unfortunately, most people are not like those guys, right? Like you said, they watch education for entertainment, which is a weird phenomenon because you think, like, okay, if I want to be entertained, I'll watch Netflix. I'll watch something that really is just fun to watch. And yet people are now enjoying watching, like stuff like we're talking about,

but they don't want to apply it. They're just like watching it. Yeah. But that's so wild to me. Like, do they have the idea that one day they'll try to flip a house? Actually, that leads me to another question. When you do go to flip your first house, what are you looking for in it? You know, I think the moment you decide that you want to go flip a house or buy real estate,

it doesn't have to be a flip. Maybe it's buy a rental property or something. You know, you just have to understand, like, there's risk with everything you do. I think that is the biggest thing that holds people back is their fear of losing money. of buying a bad deal, of a contractor screwing them over, of the market changing. The market's like the biggest one where they're like, man, it's going to pop at any moment. And I'm like, okay, you know, they've been saying that for like 12 years, but we'll see what happens. You know, you're probably right.

You've never bought a house. But I think it's fear of, you know, the risk. And I just tell people, I'm like, look, okay, you could fail. If you fail, what happens? What's the worst thing? If you're young, who cares? you got so much time to recover. You know, it's not like old, you know, if you're older and you got four kids and you, okay, I get it.

You know, maybe you need to find a way to do this in a less risky way. But if you're like me and you were 25 years old and you didn't have any money, I'm like, what do I have to lose? I'll max out my credit cards and I'm going to just buy this flip. And if it works out great, like my life has changed. But if it doesn't work out, great. I'm still broke. It doesn't matter. Yeah.

And so I just think you look at the risk of what could go wrong. And if it's not that bad, which in my case it wasn't, there's like the upside is so great. Oh, so great. And I think also the risk of doing nothing and continue on your path, people don't think about that. What's the risk of doing nothing and just, you know? Massive risk. So much risk. Say in the same spot for the next 20 years.

Yeah. I also don't think that people think far enough ahead, especially with a real estate investment. They don't realize that this can make them X amount of dollars. And then they take that money and put it into another one and then make more and make more and keep going from there. Right. I think a lot of people, especially when they haven't done this before, they go, if I flip this house, I can make 40 grand, then I have $40,000. They don't think beyond that. Yeah.

I mean, if you just think simple math, okay, so you've got 10 grand a day like I did when I started. You go find a really good deal. Now, you don't need to use your own 10 grand. I didn't know this when I started. There's so many people with money today that just don't know what to do with it. You know, you go find one person. It can be your aunt, your uncle, your parents, your sister, your brother, could be your friend. Like, there's somebody you know who's got 20 grand.

Okay, it's not hard to find. And you go to that person and you say, hey, lend me the 20. I'll get a loan for the rest. We're going to buy this flip. We can go split the profit, whatever, right? Yeah. You do the flip. Okay, it makes you, like you said, $40,000.

Well, you know, flip, call it takes four months. You do that three times in a year. You know, you went from having 10 grand to, you know, depending on how you structured it, potentially over $100,000. Plus, you know, you could still work your job during that time. Flipping three houses does not require you to quit your job. It ain't...

Again, you don't have to be in there with a hammer. No. Like, you can easily keep your job, keep the same lifestyle you have, and flip on the side starting out. I've got tons of students who do that. And then eventually, as they get, you know, experience and they build up their cash and their confidence, then they quit.

Right. You don't need to quit right away. The United States Soccer Federation present the U.S. Soccer Podcast. My name is David Goss, and I'm joined by my co-host, Megan Clemenberg. And now we're giving people an inside look at the World Cup. Times ticking. I think you can feel the intensity. All the guys are wanting to really stake their claim, and they want to be on that World Cup

roster. There's no doubt about it. Hosting the World Cup on the home soil comes with its pressures, but we're just really excited just as the people are. The U.S. Soccer podcast presented by Henkoe. Follow and listen on your favorite platform. What does a good deal look like? You know, here's the truth. I think there's never been a better time to flip houses than today

because the market is so hot that it's easy to get, you know, billed out with appreciation and what's happening. You know, if you try to flip in a down market, you run the risk of not having a buyer, having to drop your price. Like, I haven't had to drop a price in a long time to sell a house. Like, I'm getting 10, 20% more than I thought. Crazy. So I think right now you have so much room for air in today's market.

You know, fun fact, I had a couple of flips that I've held for over a year for various reasons. Like maybe the city, you know, didn't approve a permit. We maybe had a tenant that we had to wait to get out, right? Like in these scenarios, in normal times, that would destroy you. you would lose a lot of money. But in this time, I'm making even more, like way more. Because it's appreciated. It's appreciated so much. I'm like, I'm glad this city screwed me. Like, this is great. So my point is, you know, if you're looking for a deal today, it is the best time to start. Now, like, what does a good deal look like? You know, it's,

it's tough to say over a podcast. You guys can actually download my book completely for free at Ryan Panetta.com. It teaches how to evaluate deals, how to analyze them, how to figure out your rehab costs and all that stuff. Would you suggest that someone buys a house to flip or maybe buys a rental to have a renter that's in there yearly or an Airbnb style? So my philosophy is, I believe most people are trying to get passive too quick. They're trying to buy rental here, buy a rental there. And then, you know, over the long haul, they accumulated a bunch rentals. That's great. But it's not going to make you rich, like, quick. Okay. So what I always teach our students is like, hey, first master how to flip houses. Because if you can do that,

buying a rental is the same thing. You're still finding a good deal. You're still fixing it up. Instead of selling it, you just choose to keep it, right? You refinance and get all your money back out. But if you have the skill of flipping houses, you can literally do anything in real estate. You can keep it as rental. You could wholesale, flip it, whatever. But for most people who start, they're not making a lot of money. So if you were like me and you had 10,000 in the bank, man, an extra 40,000 is life changing. Sure. Super crazy. But if I go and buy this rental and, you know, it makes me 200 bucks a month, but I still have 10K, you know, I'm not real, like my life is the same. I own a rental. That's fantastic. But for me, if I flip that and I make the 40 and I have 50K to play

with, dude, things can change. Yeah. So if I find my first flip, how do I then find a contractor that I can trust? You know, I always say there's multiple ways to find them. One way is referrals. Like, to me, that's the best way. If somebody's willing to put their name on a line for someone else, that tells me a lot, I would ask for referrals from people that are actually in the real estate industry. You know, I don't need, you know, my good buddy, Joe over here who's heard this other guy was good,

and he has no idea. Like, I want somebody who's used this contractor. So I think referrals are the best. Another great way is to go to Home Depot. Just go buy the pro desk and wait there for hours. And every single person that goes and buy stuff, get their card, get their info. That's brilliant. Yeah.

And just, you know, ask them, hey, what do you do? Oh, I'm a GC. I do everything. Great. I'm flipping houses. You know, do you work with investors? Because some GCs are only retail because they want premium pricing. Some GCs are investors because they know they'll get volume.

So, you know, you can go to Home Depot and find them in a day. Wow. That's such a great tip. Are they willing to work with you? Or like, it's, I mean, the market's so hot right now. Are GCs booked up for months and months and months? It just depends. I mean, look, there's a labor shortage everywhere. And, you know, construction is no different. In fact, Zillow just said today that they're done flipping houses. They've been flipping for the last. like two, three years. Right. And I think I just read they, they loaded off $2.8 billion of their, of everything they had and just sold it as a loss. And their main reasoning was they could not get enough construction. They just did not have the manpower to buy it the volume they wanted.

And also, they bought a bunch of bad deals. I sold him a few deals too. I was like, I don't know why you guys are paying this much for this, but, you know, if you want it, have it. Who helped you out along the way when you were getting started? You know, I learned from Bigger Pockets, which is a great resource. They're a website, BiggerPockets.com. They've got a podcast, and just, I think they're the top real estate podcast still today. But I, you know, I first heard their podcast seven plus years ago. And it changed my life because I was like, wow, I can flip. I don't need that much money. You know, I thought in my mind, I'm like, okay, I need 100.

of thousands. I got to buy the house cash. You know, how am I to compete with these cash investors? And they showed me, it was like, no, you don't need all that. You can flip today. And so it changed my mindset completely. And, you know, I was able to buy my first house. And so, you know, they were the spark to what gave me the tools. You know, I read their books, listened to the podcast and all that. Then I had local guys who I knew were flipping houses here in Vegas that I just kind of met at meetups and along the way. And, you know, I would pick their brain as things. were going on and I had questions and, you know, they were gracious enough to help me, even though, you know, they're quote unquote competitors. So I owe so much of my success to other people.

You know, I just don't think it's possible to be self-taught. Sure. What's the goal now? Like, with everything that you have that you're building, what are you looking towards? Man, people, they say this all the time. They're like, when are you going to stop? Like, what's your why? Like, why are you doing this and how much is enough? Like some variation of that question. Sure. And I think you hit it on the head better than anyone's ever hit it. There's really no end to it.

It's just growth. I'm like, dude, I just want to get better every single day, whatever that is. Okay? So if, like, right now I'm focused on social media, that's what I'm going to do. Like, every day, I'm just going to try and be better and better at this, make better content, better videos, and let the chips fall where they may with everything else. A couple years ago, it wasn't that. It was my flipping business. Like, how do we increase this? How do we make it better? And I was just solely focused on that. There will come a point where

I'm happy with where social media is. And I'm like, hey, this is automated. Whether it's less content or whatever, at some point, it won't be the focus. And I'll say, hey, this currently is my focus. Maybe it's a new business. Maybe it's my family. Maybe I'm like, yo, I'm good. Like, my kids are getting older. I want to go coach them in baseball and whatever. Like, I don't know. But I do know whatever I do, I can get better every day, whether it's being a dad, a husband, a boss, a creator. There's always ways to get better. And I think people just get too complacent, man. Yeah. I would think, though, that you get to a point, if you keep growing at the rate that you're growing, you get to a point where you decide what you want to say yes to. You decide, do I want to say yes to this speaking gig?

Do I want to say yes to this gig? Do I want to say yes to? Do I want to say yes to? whatever it is. I'm already at that point. Like I literally don't do anything I don't want to do. Right. Like, it's fantastic. People, uh, I get asked to speak at things all the time and I'm like, eh, like 90% of the stuff I say no to. Um, I think with businesses, I get pitched ideas all the time. And I'm like, these are great ideas. Don't get me wrong. Like, I'm not saying I don't want to be a part of it because it's a bad idea. It's just, I don't have the time. And I just don't want to put in the work because I know the amount of work required to get this to where it needs to be. And like, you know, my business is now, anything I start new, it better have the potential to be better

than all the other businesses combined. Right. It's just not worth it. Yeah. And I tell people this too is like, you need to think about what your dream life looks like, you know, all the way from your schedule to your, how much money you're making, to how much time you spend with your family, like everything. Like, really break it down. If you had to choose, what would you what would it look like? And there are some people who say, well, I don't want to work at all. Like, I just want to chill. I'm like, great. That ain't me. Like, I like to work. And so I'm like, for me, my dream schedule is I want to, you know, work on the weekdays. I want to film my content. I want to run my businesses. I want to work on some bigger projects. I've always got some kind of

bigger project in the works. I want to golf on Friday. And I want to hang out my family on the weekends. I want to go on date night. I want to be able to travel. wherever I want, spend as much as I want on the travel and not worry about it. And I'm there. And so it's just like, okay, I have the schedule I want. Now it's just like, everything else from there is just like, okay, whatever it is that day is, how do I get better? Okay. I'm working these four days a week. Let's freaking make this better than last week. I'm golfing today. I'm competitive, dude. Like, how can I shoot you better this week? Yeah. You know, than last week. I'm with my kids. How do I be more present with my kids and not on my phone, not distracted?

Yeah. The fact that you can be present like this for a full podcast. I'm always blown away when entrepreneurs can do this because it also shows that like you have the ability to be present. And you also have the ability to focus your efforts. Like when this podcast is done, you can put out the fires you need to put out. Right. Which I think's amazing. Yeah. You know, one thing I'll say too about entrepreneurs. And this is something I picked up on as I started the content journey was you've got, You've got two types of people. You've got the entrepreneurs who are very successful in their businesses and they don't have time for content because their businesses, they're doing great. And then you have the content creators who all they do is content. They don't really understand business, but they understand making great content. And it's funny because the business people would get mad at the content creators because they're like, why is this guy telling people about

business? You don't know anything. And it's true. I've talked to a lot of these content. They are not business savvy at all. They're business savvy for an average person. They can make great content around it, but I ain't paying them for consulting. I'll tell you that. But if I want to learn how to do content creation, oh yeah, I'm going to pay those guys. But what you're seeing now is that I'm trying to merge the gap between those two and say, hey, business guys, content is super important. Okay, You guys need to figure out how to do this because when this Metaverse hits, as social media gets bigger, this is going to be what dictates whether your business takes off or not, right? And then I'm going to the content creators I know. And I'm saying, guys, you need back-in businesses. Okay? Sponsors and AdSense are not enough. You're literally leaving the majority of what you should make on the table. And so if people can figure out how to bridge the gap and get in the middle of this where you're good at content, you're good at business, you're going to to kill it. And I mean, there are a few guys doing it. You know, you look at guys like Mr. Beast, who, you know, he's created a ton of businesses while also being the best content creator.

And he's going to be the youngest, like, he's going to be a billionaire probably in the next few years, I would guess. Yeah. Just based on what his businesses are worth and the things he's able to do. I think that you can learn so much from your failures. So what's been your biggest failure? And what'd you learn from it? Yeah, I always tell people probably two failures. So one would be my first true failure flipping houses. You know, this is back in 2018. I was speculating on the market.

It was very similar to today. Super hot. You know, we were making more money than ever. And going into the winter, they decided to raise interest rates. And being, you know, younger, haven't gone through, you know, interest rates rising. I've only seen interest rates go down and down and down. I was like, okay, whatever. Like, who cares? Well, people really care. And so when they raise rates, people stop buying. And I was like, this is crazy. And then I got stuck holding a ton of inventory,

you know, on deals that were not really great deals, but I was like, oh, the market's hot. It's going to bail me out. And I ended up losing about $500,000 on those bad deals. And I was like, man, that was tough to swallow because you buy these deals thinking you're going to make, you know, a million dollars. And it goes the other one. You'll lose half a million dollars. And the thing I'll say is through that experience, taught me a few things like, for one, all my investors got paid. You know, I personally ate the bullet on half a million bucks. All my investors got their interest. And, you know, one of the lessons I learned was like, they didn't like think less of me for losing money. They actually thought more of me because

said like, yo, that proved to us way more than anything else because you showed us that when things hit the fan, like, you're still going to do what you said you're going to do. Yeah. Not when things are good. Everybody's a hero when things are good. Sure. Everyone's a look smart in the bull run. So, you know, I learned that, hey, you know what? When things hit the fan, you still do what you said you're going to do, you make sure that,

you know, you fulfill your promises and you can recover, right? So that taught me a lot. It also taught me that my business wasn't. indestructible because at that point I'm like everything I touch turns to gold and then all of a sudden you get slapped and you're like okay like I'm not immune to the market around me and other forces and my business has a lot of holes that I wasn't aware of so I think negative things really reveal like the failure or failure really reveals all the holes which are great because now you know how to go forward and revealing all those holes helped me during COVID because you know we

went into COVID a different company. And everyone else was folding during COVID. They're scared. They didn't know what to do. Whereas we went into it. We're like, I was like, hey, guys, I'm making the bet that the market is going to be just fine and we're going to make a lot of money. And so we bought during the whole way and we killed it. So that failure led to that. But the other thing I'll say is one of the biggest mistakes I've made is being too skeptical. I've been skeptical of almost every great thing that has happened to me. You know, when I was flipping, before I ever flipped houses, I was a realtor for five years. During that five years, never flipped because I had this false belief of like, oh, you know, you can't do that.

You need cash. I'm skeptical of these guys doing it, right? And I learned, oh, I can actually do that, right? Then I'm skeptical of crypto, you know, during these last four years. And you see what it does. You know, I'm skeptical of e-commerce. I'm like, oh, what's this e-com? commerce thing. All of a sudden I'm doing it. I'm like, dude, there's so much money in this.

Who's skeptical of NFTs now? I was. A year ago, when I first started hearing about them, I'm like, what the heck is this stuff? Now I'm like, okay, what am I going to do with my NFT when I release it? Like, it's inevitable at this point. Like, I'm going to make one. How do I make it so good that it's not just a JPEG? Like it adds real world value. Can I give them events or courses or unique things that add value to the NFT. And, you know, it's just like there's so much new stuff happening so quickly that the initial reactions to always be skeptical. But now I'm like, my initial reaction is, okay, like how do we get in it and be one of the first movers instead of being late. Yeah. What's been your best deal ever? I would say it's my mountain where we're

talking about building my dream house. The YouTube videos about your dream house. Crazy. I think that's my best deal ever. You're calling it on YouTube a $15 million dream house. Yeah. $15 million in Las Vegas is like a $50 million house in L.A. Yeah, it's crazy, dude.

So. Like indoor basketball, court? Dude, it's got everything. We, uh, it just goes back to show like there's opportunities everywhere. So, you know, this is, if you guys want to go know what we're talking about after this, go watch my YouTube channel on it. just like search stream home. I bought a mountain in Las Vegas, you know, two acre parcel.

And for whatever reason, like, that mountain's been there for however many years. Land has been here, right? And it's been for sale the whole time? It's been on and off for sale as like a full package with all these other parcels, but it was never for sale individually. And I went to the seller and I'm like, what would you think about selling this individually, like by itself. And we just talked it through. And this is where social media helped me. I go, hey, you know, I know you want to sell all the parcels together. He was asking $10 million for all the

parcels. And I said, if you sell me this piece, I'm going to talk about it like forever. And I'm going to bring attention and I guarantee you you're going to sell the rest of them. Like this is essentially going to be a lost leader for you like stores. I explained to them. We agreed. I ended up buying this two acre parcel for $620,000. Oh my God. And I kid you not. Literally literally two weeks later, after I put it under contract, I didn't even close yet, the rest of the pieces went under contract. All of them? All of them. Because people saw what I was doing and what happened. Yeah. And they were like, oh, dang. Like, not just through social media. Just in the real estate world, social media, everything, right? And they bought it. They bought the whole thing. I bought

mine. So they're building Tesla homes over there now. They've got this whole Tesla community planned. And then I'm kind of the outlier of building this mega mansion by itself. But long story short, the seller ended up getting close to the 10 million that they wanted after what, you know, 10 years of trying to sell it. And you did it in two weeks. I did it in two weeks. So it just goes back to being creative and seeing opportunity where others don't.

It's like that that's been there forever. Like I golf over there at McDonald's Highlands and I see it. I'm like, dude, people have been looking at this. forever since this golf course is here yet. Why did no one make an offer to try and lock it up? And so, you know, I bought that. And it's a truly one-of-a-kind piece of property here in Vegas. You know, there's nothing like it. And depending on what we choose to do, you know, we're talking about building indoor basketball court. And, you know, it's going to be, I don't even know how big it's going to be. It's going to be like over 20,000 square feet between

everything. Like the main house would be like 10,000 plus square feet. The court will be like 8,000. and a whole bunch of other stuff. But I think we can be on all into that house for like $6 million. And really the sky's the limit to what it's worth. I mean, some Raider might want to buy it. Yeah, Floyd Mayweather might want to buy it. Yeah, and I don't want to sell it. It's just like...

You're going to live there? Oh, yeah. I'm going to live there. How long? I don't know. You know, it goes back to like what's next. I don't know. Like, I might live there the rest of my life or, like, that's probably the least likely.

What's your wife thing? She can't wait. She's all about it. But, you know, Floyd Mayweather may be like, yo, I want to give you 50 million for that. And I'm going to like, honey, you got to sell. What about the idea of flipping something when you don't live in that state? Is that possible? Yeah.

There's a lot of people who virtually flip. You know, we do some flips in Cali in Arizona. We actually just closed one last week. But I'll just say if you're going to virtually flip, your margins. need to be significantly better because it is a lot more headache to manage. There's more risk involved. You need very trustworthy boots on the ground. So if you're looking for your minimum profit out here, say 30,000, like, hey, I'm only doing deals for 30,000 out here. If you're going to do a deal in another state, you better say, hey, my minimum profit's 60,000. Oh, wow. Just because you don't really

know the market that well, and it's just harder to manage. But one thing I would say is you could do wholesaling out there. And for those of you don't know what wholesaling is, it's essentially just selling the contract to a flipper. So you would get it under contract. You'd say, Ryan, I got this deal, dude, what will you pay me for it? And I'll be like, I don't know, 300,000. You're like, great, okay. And you add it for 280. So you make 20 grand. And that's a great way. You could do that anywhere. It doesn't matter. Wow. So I could flip houses in Nevada? Yeah. Well, here's what you would do in Nevada because you know me. You know, if you get a deal here in Nevada, you'd say, Ryan, I'll JV with you. I got this deal. And JV. for everybody?

Joint venture. So we'll do a joint venture together and we'll work out the terms. Maybe it's a 50-50 split. But, you know, you'd be like, Ryan, you fix it. You know what you're doing. You know, and we'll split the profit after. And do a lot of people do that with you? Yeah. I'll do that with you. Yeah. Sign me up. Yeah. All right. Well, JV. Yeah. Okay. Deal. Is that something you would, you would recommend to someone, though. Do this in your neighborhood. Do this like where you can visit the house. Every day, every other day, every week. Yeah. So I would say there's two ways to create value in a real estate deal. One is to find the deal itself. You know, everything starts with getting a good deal. The other way is to, you know, bring the money to the table, right?

So whoever's bringing the money, great. And then I guess the third way is whoever's going to, you know, handle the project. Who's going to get it fixed? Who's going to sell it, write the operations. So for us, we can do everything. We can bring the money. We can handle operations. And that's why I said.

If you bring a deal to the table, great. Like, we already got everything else built in. Bring us the deal. We'll fund it. We'll manage it. We'll split profits. We do that a lot. I actually do it with my students at Future Flipper a lot.

But another thing would be like, okay, you're like, hey, Ryan, I don't have deals. I don't have time to look for deals, but I have money. I say, great, give us your money. We'll put it to work with a deal. Now, for us, it's a little bit different. We don't usually do joint ventures on that because we don't really have to. We got a lot of money that's being sent to us. But we'll say, hey, we can, you know, pay you X amount interest on your money.

We can pay you at 12%. And, you know, as long as the flip takes, you're making, you know, 12% annualized and, you know, it's guaranteed. And so that's one way that we joint venture with people who have money. And then, you know, obviously there's Panetta Capital, which is a whole different beast. That's for accredited investors only. So, you know, you got to have some wealth built up. But those investors can invest with us on big apartment complexes. And, you know, they do get not only interest, but they also get, you know, equity as well.

And so that's what's really exciting too. I feel like someone can't create real wealth without real estate these days. You know, I think there's a lot of people who've gotten crypto rich. That's true. I think crypto has been the one thing that's kind of changed it, you know. you never heard of these people getting rich out of nowhere from the stock market. Like, it just didn't happen. Yeah, that was like steady growth.

Yeah. But like this Shiba Inu guy recently? Dude, I mean, these guys who bought Bitcoin five years ago, you know, they bought a few thousand of it, they're millionaires. So, like, that's one of the only things I've seen where it's like, dude, these guys got instantly wealthy with literally like no skill. You know, it's not, like, that's the guys I hear where they're like, oh, yeah, I'm so smart. I'm like, dude, you literally know nothing. You just bought Bitcoin. You got lucky.

lucky. You got lucky. And you became a millionaire and props to you. Don't blow it because you don't really still know what you're doing. But that person now could take, let's say they made two million dollars, just making up a number. They could take the two million dollars, get some investment deals, flip some houses, something like that. What could they turn their two million into with real estate? Yeah. I mean, once you've made that money, then I think real estate is the best. You're like, you know, if you want to put it back in crypto, that's cool. But nothing has proven more than real estate as far as like it's lasted forever. People are always going to need it.

It can give you cash flow, gives you tax advantages. It gives you right-off. It gives you just so many benefits that crypto doesn't give you. And the amount of leverage you can take with real estate is unmatched as well. So I just think real estate's always going to be there.

And the thing that I tell even business owners and content creators is like, okay, if real estate isn't your field, whatever your field is, okay, just figure out a field that makes you a lot of money. So if that is being a YouTuber, great. Make a ton of money being a YouTuber. If that's being a doctor, fantastic, be a doctor, make a lot of money. But I think you're always going to end up back into, okay, what do I do with my money? And I don't see any other solution that defeats real estate. Yeah, I love it. If someone in terms of a content creation standpoint is where you were at a year and a half ago, what's the first step they need to take?

Well, you know, I think with any business, you got to look at your budget. Like, okay, how much am I willing to put into this business? And so for me, it's like I said, it wasn't a lot of money. I was like, I'm going to buy a good camera, 800 bucks. Nothing, you know, it's expensive camera, but it's not this million dollar studio we're in. I said, I'm going to buy a nice camera and I'm going to do everything myself. Okay. Time commitment, a little bit of monetary commitment. We get some momentum. Say, okay, I'm going to hire a video guy. Great, $3,000 a month. Like, that's a pretty big commitment. And all of a sudden, it just keeps snowballing. So I think anybody right now can start with $0. They can use their phone. The iPhone is like so powerful. It's crazy. So good. And the new one's

even better. Yeah. You can go get high quality, high resolution video with your iPhone right. now. You can go buy a mic on Amazon for 20 bucks, a lav that just connects to your iPhone and your audio is crisp. You can go buy a light for 30 bucks that goes right on your face. You literally look like you have like 90% of the setup I have with just that. You know, everything else I have is like to get a 10% increase in quality. Yeah. You've brought so much value here today. I appreciate you coming by. What's the best way that people can connect with you? Yeah. Easy. ways just to go to Ryan Paneda.com. You can see all my social medias. You can go see all my businesses. And we got a ton of free resources like my book I talked about as well as, you know, planners and

contracts and all that stuff. So if you had to guess today, when does your TikTok account hit one million? You're so close. Yeah, we're at like 900,000 now. So just give us a day. Well, what's crazy with TikTok is you can literally go viral tomorrow. I actually just had a friend who started her TikTok less than a month ago, and then within two weeks, she got 1.4 million followers. And, uh, wow. She's killing it. And so, um, I don't know. I mean, I can get a viral video tomorrow, but for sure by the end of the year, we'll be at a million and it's crazy to be a fun year. Crazy to think you'll get 100,000 followers in the next two months. Yeah, that is crazy too. That blows a lot of people's minds. Yeah, but I'm pretty sure it will happen. I end every interview

with the same question because I start and end every day saying out loud three things that I'm grateful for. So what are three things in your life that you're grateful for right now? I'll say my wife, my kids, and my employees, you know, obviously with the wife and the kids, they're the reason I come home and, you know, get to do what I do. They stay with me and allow me to be crazy and just put our life out there and, you know, take risk. And, you know, take risk. you need a spouse who's willing to take risk with you. And then my employees, like, they're the only reason that I'm able to be here filming. And, you know, it's not all catching on fire and burning.

I think that there's going to be a lot of people who listen to this episode and go, man, I was thinking about doing this or thinking about doing that. And now they're going to do it. I hope so. Yeah. So thank you so much, man. Yeah, man. Appreciate you.

Yeah, thanks for having me on. Oh, yeah. Big thank you to Ryan Panetta for joining us in person for this. Thank you to you as well for being in the studio with us. You can find Ryan's podcast, the Ryan Panetta show, wherever you're listening to this. And if you've ever thought about starting a side hustle, this show is going to motivate the hell out of you to get started. Share this with a friend who loves watching Ryan's videos or just share it with someone who you know is going to be inspired by this. Snap a screenshot, tag us both on social media so we can retweet it or we can re-story it on Instagram.

He's at Ryan Paneda's show. Tag me. I'm at Chris Van Vleet. And before we go, I'll leave you with this from James Cameron, who said, if you set your goals ridiculously high and it's a failure, you will fail above everyone else's success.

Hmm. Be great. Be grateful, my friends. We'll see you on the next one for some more insight. Jim Rome takes on sports. Why? Because I have a job to do. With rapid-fire takes.

So I don't want to hear from you lava pigs on this notion today. No idea what you're talking about. You're complaining more than you like to breathe air. It's like you get up in the morning only to complain and cry and moan on social media about things that you don't even understand. He's the spitfire of sports smack. Take advantage of it. Get up in here. The Jim Rome Show podcast.

What's your beef? Follow and listen on your favorite platform. You've been warned.