No Broke Months For Salespeople - 6-Figure Real Estate Investing Business From Scratch

Episode Date: June 29, 2023

Dustin Heiner is the founder of Master Passive Income, Real Estate Wealth Builders Conference (REWBCON), and Successfully Unemployed. He is a real estate investor who could make enough passive income from his business to quit his job when he was 37.With his podcast, Youtube channel, books, courses, and coaching, he now helps other people quit their jobs by investing in real estate rental properties to live their dream lives.In this Live Interview with Dustin, he will talk about how to create a 6-Figure Real Estate Investing Business From Scratch.--To find out more about Dan Rochon and the CPI Community, you can check this link:www.NoBrokeMonths.com --Stop 🛑 wasting your time ⏳ or spending too much money 💸not getting the results you want in sales; I would love you to join me for the upcoming 5-Day Listing Challenge.You will learn how to find YOUR Way to having closings every month.www.get3morelistings.com--Get your free copy of the Real Estate Evolution here:bit.ly/RealEstateEvolution_GetYourBookThis book shows you the step by step on how to:Step 1: Believe in your unknown potentialStep 2: Deconstruct persuasion techniquesStep 3: Find a business and get hired consistentlyStep 4: Be proactive in the relationship with your clients.Step 5: Learn and implement the exact steps to hire, train, lead, and train virtual assistants so that they can build, support, and guide a winning team to scale.And if you’d like to have a consistent and predictable income, like this page, and don’t forget to join the Facebook group to network with the top agents:https://www.facebook.com/groups/thecpicommunity/ To find out more about Dan Rochon and the CPI Community, you can check these links:Website: No Broke MonthsPodcast: No Broke Months for Salespeople PodcastInstagram: @donrochonxFacebook: Dan RochonLinkedIn: Dan Rochon

I don't have to do anything. I literally own real estate that works for me. I make money in passive income, so I don't need this job. Welcome to the No Broke Months for Real Estate Agents podcast. Working as a real estate agent can be incredibly rewarding and fulfilling, but it can also be frustrating

if you aren't making the money you deserve. So if you're ready to end the stressful cycle of working hard for no results, then get started with a proven step-by-step system so that every month is no broke months. Dustin Heiner is the founder of Master Passive Income, Real Estate Wealth Builders Conference, Rubicon, and Successfully Unemployed.

He is a real estate investor who could make enough passive income from his business to quit his job when he was 37. With his podcast, YouTube channel, books, courses, and coaching, he now helps other people quit their jobs by investing in real estate rental properties to live their dream lives. In this live interview with Dustin, he will talk about how to create a six-figure real estate investing business from scratch. My name is Dan Roshan. I'm the host of the No Broke Months podcast, which is a show for real estate agents to help you have no broke months. Thanks for joining me. Enjoy the show.

Hey, Dustin. Hey, Dan. Thank you so much for having me on the show. I really appreciate it. And I'm definitely an investor. That's what I do is I invest in real estate. And I really enjoy real estate, but it's what it affords me to do in my life. You know, not have to work for somebody else, be successfully unemployed, go to the gym in the morning, drink my coffee, hang out and podcast and talk to great people like you. So I really appreciate you having me on the show. Yeah, it's my pleasure. So tell us about how you got into investing. Yeah, so I'm definitely an investor. I invest in real estate, buy rental properties, long-term buy and hold. I even do Airbnb, but buy and hold properties. And my goal is to create generational wealth that can literally and will literally give these

properties to my kids. So I'll quickly jump to the end, but then I'll go right back to the beginning. So when I was 37 years old, I was blessed to be able to quit my job. What was your job at 37? I was working for the local county government in California, one of the local county governments doing IT. Like the most stable job, risk-free job is government, California, and technology. The most stable I could ever think of. I was able to be acquit when I was 37 years old. I was doing what everybody else has always been told. We're always taught from the, when we first start thinking, you know, when we're babies,

they start telling us, okay, here's the plan. You go to school, you get good grades. And then you get those good grades and you go to college, you can get thousands and thousands of dollars in a debt and you get good grades again and you get a piece of paper. It's called a degree. You take that around to other businesses and try to get a quote unquote career and then retire when you're 40, you know, 40 years later, when you're 65 years old on and try to live on what you managed to save your entire life. So I'm doing that exact same thing because that's the only thing I know. And then at the same time, I've always been entrepreneurial. My dad was a contractor. He had his own business where he was building houses. And I thought, you know what? It'd be great if I would do that. So when I was 13 years old, I had a newspaper out. You know, you ride on a bike, you got bags of newspapers and throw them

at 5 a.m. and bang them on garage doors, waking people up. So I had that, had a skateboard manufacturing business. I even had a graphic and website design company. On top of that, I even, as I got older, I had a convenience store and a pizzeria that I started from scratch. But at the same time, I'm working that normal, I call it a job, it's an acronym, is just overbroke. So I'm working that just overbroke job

and I'm working for the local county government doing IT work. Now here's the story of what catapulted me, shoved me into real estate investing. So I'm a regular sit down nine to five job. And I'm working for the local county government doing IT work. Now here's the story of like what catapulted me, shoved me into real estate investing. So I'm regular sit down nine to five job. I bought one rental property and it started making me money in passive income. And I thought, this is great. I need to be an investor. Well, you know how it always gets like life gets in the way. And my wife and I started having child after child. Eventually, we had four children. And when my fourth child was born, I went on paternity leave from my job. Dad stays home with the mom, changes poopy diapers, and mom's with the baby.

Exactly. So I'm off for about two weeks. And then I go back to work. And in that same week that I go back to work, I get a call from my boss's boss's boss's secretary, like the top dog on a Friday at three 30 in the afternoon. And she says, Dustin, would you please come to the office? And I said, sure. And then I hung up the phone and I thought to myself, my goodness, why are they calling

me the office? Like, this is, this is a normal. And I do in a principal's office. Exactly. But I've seen plenty of movies that Friday at three 30 in the afternoon, this is, this is the time that bad things happen. And then I started remembering a couple of weeks, or no, sorry, a couple of months

before I went on paternity leave, there were some rumors or some rumblings going on that there could potentially be layoffs in the department. I immediately shook it off. I said, there's no way. I have 10, 12 years seniority here. I get the most stable, secure job I could ever think of. So I shook it off.

I get up and then I walk down the hallway to my boss's office. Now, now, and this hallway isn't very long. In fact, it's kind of short, but every single step that I take, it feels like the hallway gets longer and longer and longer. And it feels like my feet become lead bricks because the thought of losing my job is starting to weigh on me. Well, I get through the hallway around the corner and I see my boss's door. His door's closed and I see a secretary there, super sweet, nice old lady. And she's kind of sheepishly grinning at me. She says, Dustin, would you please have a seat? And she's trying to console me with

her eyes because she knows everything about what's going on. I know nothing about what's going on. So I go and I take my seat. And as I'm sitting there, I start to think about my entire life, this plan that I've been told. We are all told if I lose my job right now, does that mean my life was a waste? And then, oh, my goodness, if I can't feed my family, that's how I feed my family. You got four kids at this point. Absolutely. A brand new baby just born.

The one time you're like, man, I need to be able to feed my family expressly. And then I start thinking, my goodness, if I can't be my family, am I a failure as a father? Am I a failure as a husband, as a man trying to provide for his family? Well, as I'm sitting there, my hands get all clammy. My forehead gets all sweaty because the weight of everything is just crushing down on me. Well, the door to my boss's office opens up and out walks a lady with a co-worker of mine, a lady with a piece of paper in her hands. She is noticeably distraught, noticeably upset. She's not necessarily crying, but you could tell her world has just been rocked. Well, she passes by me and my boss says, Dustin, would you please come into the office? So I get up and I go into his office

and I get laid off. And remember, this is the government. Nobody gets fired or laid off from the government, but I did. And so I'm telling the story so that you guys, everybody listening, can hear what I went through so you won't have to. So I took that layoff notice and I went back to my desk and I sat down. I realized two things sitting right then and there, Dan. The first one was I need to get another job. I need to be able to provide for my family. So I was really, really blessed, praise the Lord, to be able to find another job in the same county. A different department wasn't having the same issues. So check. I was able to move over there. Good.

Now, the second thing, and this is the big reason why I'm telling the story. The second thing I realized, sitting in that chair, working that dead-end J-O-B, I realized that I need to make sure that this never, ever happens to me again. I didn't make sure that nobody has the ability to take away my ability to feed my family. So right then and there, I realized, remember, I wanted to be an investor. I knew I should be an investor, but life got in the way. So right then and there, I realized whenever anybody asks me the question, Dustin, what do you do? You know, we always get that question.

Well, I would always reply, oh, I do IT work for the local county government. I'm basically projecting my value in myself as being my job. No, my value doesn't come from my job. My value comes from my God, from myself and from my family. So right then and there, I told myself I will never reply with that, but I will reply. When everybody asked me the question, I'll say I am an investor. It may so happen that 100% of my money comes from my job. That's now my part-time job. I am a full-time investor. Fast forward the story, started buying property after property, after property, each one making me $250 a month in passive income. And eventually I had 30 plus properties. I was like, my goodness, why am I working here? So that last part of the story is I went to my new boss, great boss and all. And I said, Hey boss, I'm laying you off. Like here's

your two weeks notice. And he goes, Dustin, what are you going to do? I said, I don't have to do anything. I literally own real estate that works for me. I make money in passive income, so I don't need this job. So I, if you remember that hallway that was short hallway got longer and longer and longer. Well, this last walk that I took away from my job, I was working in downtown a mile and a half walk. I've done it a thousand times because I'm too cheap to pay for parking. Well, I take this last walk. I felt like I was walking on clouds because I knew I would never ever need a job again, because now I'm getting paid for the value that I'm worth. And everybody listening, you need to realize that your boss is not paying you what you are worth. You are worth so much more than anybody could ever pay

you. And this is how you're going to know. Your boss is paying you just enough to keep you working without quitting, but not so much money that's taking money out of their pocket. So if they paid you what you're worth, they would go broke. So once I realized that and now projected out my value as being an investor, that changed my life. Now, 30 plus properties now, you know, 40 plus hours of my life back so much better. So I'll pause the story because you probably got plenty of questions. So so you got fired or laid off from the government and then you went to another J.O.B. What was that other J.O.B.?

The same technology job in another county department, same county, just another department. It was one of one department was having trouble. Like they didn't have enough money. The other department is the sheriff's department. I moved into, they had enough money to bring me on. And then how long were you about four years? So during that four years, uh, you purchased 30 properties or you had a few before that? I had a couple before that. I bought one and then I bought a couple more. But then it's just really just everything's kind of stopped. But in the time of working at that first job where I got laid off, I bought a couple more

just little by little. But when I went to the new the sheriff's office working, doing the IT work, it took me about four years to where I had enough properties to replace my income. And with that, I was scared though. I was like, man, this is a stable and secure job, which I know it's not because I was just laid off, but it's hard to leave that W-2. So I waited an extra two, maybe three years to eventually quit because I wanted to make sure we had four kids and we had a mortgage and food and all that sort of stuff. So I waited longer.

And honestly, I wish I didn't. And the reason why is when you have 40 plus hours of your life back in your possession, how many more investments you can buy, how many more businesses you can create, how much more time with your family that you can have. Now, since I have so much time, I literally have four businesses that make me money in passive income, in active income and all that sort of stuff. Basically, I am having businesses and I hire people and I have four different companies that make me money all the time because all my value is put into what I own as opposed to somebody else. Are they all around real estate? Yes and no. So yeah, mostly real estate. So obviously the real estate investing,

that's what I am. I'm an investor. So that's the number one where I make money in passive income, $250. That's the minimum for every single property now with 30 plus properties. That's great. Plus syndications and storage units and all that sort of stuff. Like I love real estate. The next one is another online business or an online business where I, as I was quitting my job, I had so many friends and family members and co-workers and people friends from church asking me, well, Dustin, how are you quitting your job? I said, well, I invest in real estate. I literally don't work and it makes me money. And like clockwork, the second question always comes, well, can you show me how to do it? And so I started showing

friends and family, everybody one on one. And I realized I have plenty of time and I enjoy talking about this stuff and I enjoy talking about this stuff. I enjoy seeing people's lives change. So fast forward, started Master of Passive Income, the podcast, the YouTube channel, courses and coaching and blog and all that sort of stuff, and books, How to Quit Your Job with Rental Property book. So I realized I enjoy it and I had so much extra time. So now that's a business. Another one is a real estate wealth builders conference. It's what it's called. It's a conference where we bring together all types of investing into under one roof. And we bring all of my friends. I have like lots of friends that

are investors, expert investors that have their own podcasts and YouTube channels and all their own students. We got us all together for one conference and we're doing it every year. But that's another business that I'm creating. There's another one called Successful Employee. That's a podcast that I have where it's just a passion project. I'm actually interviewing great people who've already been successfully employed. But here's the thing though, Dan, I love streams of income. We always hear about streams of income. Streams of income are phenomenal. Now, those streams of income though, they flow in to my river of income. My river of income is my real estate investing. That's where all the money goes back into because not just the fact that I make money in passive income every single month, but this is generational wealth.

I will literally give these properties, teach my kids. I will literally give them everything so that they will be successful as well because figure if it's making me money, why would I sell it? So that's what I'm creating now is generational wealth. Hey there, it's me, Dan. Excuse me for interrupting my own show. I want to tell you about a coaching client who I have called John. And John was recently working with some buyers

who they ended up writing 12 offers on 12 different homes, none of which got accepted. And that could just be frustrating. But even worse than that, those buyers ended up becoming renters because they rented a home. And guess what? They went directly to the rental. They didn't even use John for his services when they rented. If I just described an experience that maybe you can relate to, and if you're struggling right now because interest rates have risen so high and the inventory is so low right now, it's just so tough to work with buyers. And if you want to learn, instead of work with buyers, how can you take three more listings right now? I invite for you to an upcoming class that I'm hosting. It's online. It's free. You can join me at www.get three more listings.com. That's get three more listings.com. And I will show you the exact

techniques and tactics that my students are using to be able to get three more listings every single month. So that's www.get3morelistings.com. And you can save yourself a seat. It's free, it's online, and I look forward to helping you get more listings. What type of properties do you own? I personally, like my bread and butter is single family homes. So residential four units and below. So that's my bread and butter. I don't even have to think I've coached thousands of people. I've done it myself numerous, numerous times. And so it's, it's like a no brainer for me. What I also invest in, I also love investing into multifamily, big syndications and storage units and things like that. So right now I just got into a hotel,

like a couple of hotels. We have a syndication in one of the hotels. So I love all types of real estate investing, Airbnb as well. And so it's really, you need to, like for me, I think my bread and butter is residential, but then you could branch out because I have extra money coming in. I'm like, well, I got to park that somewhere. That's what the rich do. The rich park their money in real estate. It makes them money and creates them generational wealth. So for the listener and the viewer, when you say syndication, you're talking about pooling money with other investors together to buy large assets. Is that correct? Correct. You need to have a large down payment to buy, let's say a $5 million property, $10 million property. You got to pull a lot of people's money together. And then you get a portion of that deal, a portion of equity in

that and portion of returns and all that sort of stuff. And then usually you exit it within three to five years and hopefully sell it for more. So you get more money on top of that. Okay. And so let's go back. You're the government employee and you're on a decent salary, but not an earth shattering salary. I was making $75,000 a year. And I realized- In California. Yes.

In California. Did I get laid off in 2014? No, 13, somewhere around 12, 13, 14. I can't remember. And then moved over to another department. So then you want to buy your first investment property. So how did you pull together the cash from a modest salary to be able to come up to purchase your first one and walk me through the first five if you could? Got it. I love that question. And the reason why is I bought my

first property in 2006. So before, it was 2006, 2007, like into 2007. And so before the crash, you wrote up the tail end of you got about maybe a 10% appreciation there somewhere along that before it went over. Yeah. Yes and no, I did not invest in California. And the reason even though I live in California, I didn't invest in California because prices were so high, rents were so low that I couldn't make money in passive income. So I literally invested in Ohio. I flew Ohio, red eye, went around the entire area, saw realtors and property managers. In fact, there's a wrong way. And what I did to start is the wrong way. Now I can definitely explain the right way and how to do it. We don't even fly. Myself and my students, we don't even fly anywhere. I don't want to check out the states that I invest in. I have experts there. They do the work. In fact,

30 plus properties that I own, I've only seen one of them. And so before I bought it, I saw that first one. That was literally the first one. Every single other one in all the different states and cities, I don't even care to see them. It's a business now. And my business is what runs it. So I don't even have to work. That's why I like to call it an automatic business because I hire the experts on the ground. So now the first one, my wife and I had just got married and I wasn't taught to save. I was taught to not go into debt, which was good, but I wasn't taught to save. My wife was.

So she brought in like $15,000 into the marriage. And I said, after I read Rich Dad, Poor Dad, right at the same time when we got married, I said, Hey, honey, can I take your $15,000 that you saved up? So I took that $15,000, bought our first property. And I can give you, actually, let me tell you the wrong way. So this is the wrong way to do it. And you'll quit. I want you to quickly forget it, because I'll give you the right way to do it. This is the wrong way. But this is how I learned this wrong way. I follow those quote unquote gurus. So I was watching, it was like 2005, 2006, 2 a.m. One of those late night infomercials, those real estate guys, hey, we're coming to your town, a free two hour seminar.

I went to that. I said, yeah, it's free. So I went to that. I was all pumped up and they feed on you and they say, it's all hype. It's all sales pitch. And they'd say, no, run to the back. It's normally a million dollars for this program. And for you, it's only $500 or And they'd say, no, run to the back. It's normally a million dollars for this program. And for you, it's only $500 or $1,000. So I ran to the back. I'm like, yes, this is going to be great. Paid $1,000 for this two-day seminar. That was all another sales pitch for another $40,000 course, a $50,000 course, a $30,000.

It was just sales pitches, all the way it was. But I realized, even if I had the money to pay for these courses, man, I'd rather just learn from the school hard knocks, which it definitely hurt learning through the school hard knocks. But what I did, well, this is what they told me. And I use this and this is the wrong way. So they said, find a property anywhere in the country. Remember, I'm going to tell you this, but I want you to forget it because I'll give you the right way. You're going to say, find a property anywhere in the country. And then you run the numbers, run the numbers, meaning make sure your expenses are less than your rent by $50 or $100, but you'll get appreciation. You're going to love that. Well, I'll pause this and say, I absolutely do not invest for

appreciation. Remember, I'm going to give these properties to my kids. It's great that it's going to go up, but I'm going to give them to my kids. I invest for cash flow. So quickly getting back to that, they say, find an area in the country, find a property, run the numbers, make sure you're making 50 to a hundred dollars a month in passive income, and you'll get appreciation. Then you spend thousands of dollars to buy the property, then spend even more thousands of dollars to fix up the property. Then you find a tenant and then you find a property manager. Well, in my opinion, that's literally backwards. I did exactly what they said. And with that, my property manager started stealing from me within six months because I didn't know what

I was doing. It's just about backwards. And the reason why was because I didn't build the business first. Remember, that's all the wrong. I'm going to give you the right way in how I continually went from the first property and then realized when I started, I really need to be an investor. I started buying. I systematized it. How did you get your second? The second one came very, very quickly because I bought that first one. And then with that one making me money, then I bought the second one because I refinanced it, pulled the cash out to buy the second one. I just recycled that money over like the third and fourth and fifth. It was all recycling because I bought it for less than it's worth because I'm an investor.

I don't pay market value. I try to pay it for less. I get 10 or 20% below. How'd you find the first one for less than what it's worth? How'd you find the first one? Oh, it was actually kind of funny story. I was on eBay of all places and I saw a duplex in Ohio. And I thought duplex in Ohio for $40,000.

Man, in California, that would be like, like $200,000. This is crazy. So I said, that looks great. But then I realized, as I went over there, and really analyzed everything, like $40,000, that's kind of a lot, it should be like $30,000. This is back in 2006, and seven and eight, so much, much, much less. And so with that, I just kept recycling my money over and over and over again. But the key though, is how you can scale the business. Now the gurus, what they'll tell you is you buy your property and that property is your business. No, no, no, no. My business owns inventory. This is what it looks like. I'll give you a quick analogy. So you know what a convenience store is, you know, candy bars and

soda machine. If you're going to start a convenience store, you're not going to sign a lease on a location, open the doors and set a box of candy bars in there on the ground. No, you go out of business in two seconds. What you would do though, is you would build the business first. You get the gondolas, those shelving units, you put all the candy bars on, you get the countertops, cold storage, cash machines, bank accounts, cash registers. You're going to get insurance and employees. You're going to get all this before you buy any inventory. Same thing with real estate investing. We build the entire business first, and then we buy a piece of property. And that piece of property is our inventory that we put into our business. Because the first time I did it, I did it what the guru

said. Then I realized there's got to, she started selling for me in six months, which was a huge, horrible letdown. But if I would have let that stop me, I would not be here today, but I didn't. And I realized this has been done plenty of times before and I've always been entrepreneurial. So I took my business aspect. I said, let me try to run this like a business. And in doing that, I made it so that I have everybody in the business. I'll quickly go over. You have the right property managers, the right mortgage brokers, right? Contractors, inspectors, handymen, plumbers, roofers, realtors, wholesalers, you get all these people working in your business for you. And then you buy a property and you put that into your business. All the properties that I own, reason why I've only seen one of them is because

that's the one I first one I ever bought. And I was too worried about it. Now I literally don't see any of them. So I don't even go to those states unless I really want to. And I don't see the properties because I hire experts. Myself and my students, I've got thousands of students now. We don't fly anywhere anymore. And the reason why is we hire the experts. Now Zillow is not an expert. Trulia is not an expert. Redfin, like all realtor.com, those are not experts. Who are the experts? They are the people that literally work there on the ground day in and day out. Your realtors, your property managers. So if you're going to build a business, this is what I suggest. Just like any business. Business is the same. You just got to learn the process and you can apply it here. So for me in how I teach and how I do this, I look for inventory.

This is the right way. I look for any city in the country that has inventory. If it's not going to have inventory, why build a business there? So the right type of homes that people either want to buy or rent. Obviously we want to rent, but we want to make sure it has a lot of inventory. And here's my suggestion. This is a cookie cutter type home that everybody either wants to buy or rent. Three bedroom, two bath, 1,200 to 1,600 square feet. Ones that the price is low enough that the rent will be high enough to where I make $250 a month in passive income on top of all the expenses. Then we make sure we have enough inventory in the property. How much are you putting down to make that happen? It depends on every single deal. I try to put no money in the deal. So none of my own money. That would be private money lenders. That would be hard money lenders. That would be a home equity

line of credit. That'd be using a signature loan, which I've done. I've even used a credit card to buy properties. Now, it's definitely a bad strategy. And the reason why, let me give you another tiny analogy. If you know, without a shadow of a doubt, you can sell a candy bar for $1, but it costs you 50 cents to buy that candy bar. You would do that all day. If you did not have that 50 cents to buy that candy bar and you needed to borrow that 50 cents, but it costs you 25 cents. So you're out 75 cents for that candy bar. You would still do that because you'll make 25 cents on every single candy bar. And you try to figure, how do I get more money? Because I just have so many candy bars to sell.

Same thing with real estate investing. When you create a business that pays for all the expenses, and then you make a minimum of $250 a month in passive income on top of that. That is how you, how I, and we feed our family. And here's a great thing, Dan, you'll appreciate this. I bet you'll definitely know this. So I don't pay my taxes on any of my properties. I don't pay my mortgage. I don't pay my property manager. I'll pay my insurance. I don't pay for repairs. I don't pay for any of that. The reason why is my tenants pay for that. Now the money goes into me and out through all the bills, but I don't have to get a job

to pay for my property manager because that's one question I always get. Well, Dustin, how do you afford a property manager? I'm like, I don't. I don't buy a property unless it can be managed by somebody else. And that expense is fixed in there. And on top of that, I make $250 or more in passive income. And with that, I make passive income. That's the minimum sum of four or five, $600 a month. I recently wrote the book, Real Estate Evolution,

The 10-Step Guide to CPI, Consistent and Predictable Income for Real Estate Agents. I wrote this book because I have sold real estate since 2007 and developed an immense amount of experience and knowledge. During my journey, I have witnessed hundreds and maybe even thousands of real estate agents fail in this business and I firmly believe that that's a shame. In Real Estate Evolution, I will show you the exact steps that I have used as a real estate salesperson to sell 1 to 15 homes every single month for the past 129 consecutive months.

It took me more than two decades to learn the sales and persuasion techniques and more than one decade to master the real estate sales techniques to be able to produce the content that makes up this book. And it took me more than a year to write at a pace of three hours every single day. If you're a real estate agent and you're looking for consistent and predictable income in your business, I invite you to get the book, Real Estate Evolution. And you can get that by visiting www.therealestateevolution.com. And I'll even give it to you for free as long as you pay for the postage. So you have basically for your business, now I know you have thousands of people that you're

coaching as well, which would probably imply that you have more than just three locations where you could invest, right? But you would have to have basically three subsections of your business to be able to have the local wholesalers, the local real estate agents, the local contractors, property managers, et cetera. And so did you develop that one at a time? Was it done simultaneously? Talk to us about that real quick. Yeah, totally. It's a scaling question, which you're 100% right. So a lot of my students will ask me, well, Dustin, when do I know I should move on from a city? Like I buy five, 10, 15, however many properties. And I always tell them, it's really your own risk tolerance. Like all your eggs in one basket, how many eggs do you feel comfortable in one basket? So what we do, and I'll give you actually how we actually do one-on-one coaching. What I tell my

students is we find two cities anywhere in the country at maybe two different States, but far enough apart, two different economies. And what we're doing is we're analyzing the business aspect. What's the inventory like? What are the tenants like? What are the rents like? Can we actually build a business here? And so with that, we look at two different ones. So it's comparing apples to apples. Can we find the right property managers? That's, oh, let me say this. Your quarterback of your team, of your business is your property manager. How do you find them then? That's a great question. You find the property managers by interviewing them. There's lots of actual ways to physically get their phone numbers. I'll give you a few.

Obviously, Yelp and Google do a quick search. But here's a couple of key ones, key ones that people wouldn't think about. If you go on a Craigslist and you look up listing for rental homes and you see the same phone number on every single listing, that's probably a property manager. But here's the key, though. Your quarterback of your team is your property manager. Now, if you follow those gurus and you did everything, like I said, it's just about backwards where the last thing you do is find a property manager. Let's say you did everything, spent thousands of dollars, got everything done. And you say, Hey, property manager, here's my property. It's number one,

happy street. Would you manage it? And they, God forbid it. They say, man, I'm not going to manage it. I'll get shot going there. There's no way. Well, you no longer have an asset that makes you money. You have a liability. So get your quarterback first. 100%. A lot of students, they say, Hey Dustin, I found two cities. And like I just told you, you had good inventory. I've already got five realtors sending me deals in both cities. I'm like, whoa, whoa, whoa, stop, stop, stop. Realtors are the last step. Like buying inventory is the last step. You have to have the infrastructure. Just like any business, you need to be able to fulfill.

You need infrastructure in that business first. And so do you have the right property manager? And finding is one. But the bigger thing is finding the right one and interviewing them. Just like if you start a convenience store and somebody's walking down the street and you grab and you say, hey, you got a pulse. Come on in here. Manage my property or manage my company, manage my money, manage my customers, manage my inventory, manage my employees. You wouldn't do that. You would interview. Same thing with your property managers because i'll be completely honest property managers are a dime a dozen in fact anybody could put on a hat and say

yes i'm a property manager but the good ones they are the ones that stick around your quarterback goes and finds the contractors and and all the other components the wholesalers the bird dogs the everything else mostly so what i i like to have backups because you'll appreciate this, Dan, nobody cares about your money more than you. Now you hire property managers to hope that they're going to take care of your money really, really well, but nobody's going to care about it more than you. So what I do is I find the right property manager. Usually they have their own teams, not teams to find you like find your properties like wholesalers, but they will have contractors, maybe some handymen, you like wholesalers but they will have contractors

maybe some handymen you know plumbers they'll have that in their rolodex so they can start doing that on their fixing of your properties but what i like to do because i'm an investor if they say hey dustin we got one quote for this price like wow okay you got one quote give me at least two or three more quotes if it's over a thousand dollars here's another business process that i would give because i love with a business, we create systems and processes and procedures. With that, a process would be if it's over a thousand dollars for a repair, give me at least three quotes. That's like the minimum, not just for price. Price is always good, but that's three different sets of eyeballs looking at a problem to figure out what the fix is and the solution.

Making sure the problem is a problem. 100%. Because I kid you not, just about every single time a furnace has an issue in one of my properties, a furnace guy goes in there, oh, just replace it. Really? Can't you just repair it? Well, I have a guy who actually errs on the side of repairing, but literally every single new company, oh, just replace it. That's literally what they say. So yes, we need new eyeballs looking at the problem. Cool. Dustin, you have a course that you share with on your website for free. Is that correct? I sure do. Tell us more about that. How can I get it? How can I get access to your course? I want to check it out. I would love to give you and everybody listening a free

course, like literally walking you through step-by-step everything I just shared. And if you text the word rental, R-E-N-T-A-L, rental to 33777. Rental to 33777. I'll literally give it to you. You can even go to masterpassiveincome.com forward slash free course. All one word, masterpassiveincome.com forward slash free course. I'll give it to you, show you how to find an area of the country and invest, how to build the business, how to find the right property managers, the questions to ask, and how to scale your business to be able to quit your job.

And if you hear this, $250 a month in one property in passive income, that is $30,000 a year because of $250 a month. 10 properties is $2,500 a month. That's $30,000 a year. 20 properties is $2,500 a month. That's $30,000 a year. 20 properties is $5,000 a month. That's $60,000 a year. I know most of us can become successful and employed with $5,000 a month. Yes, sir. Yes, sir. Dustin, thank you so much. Masterpassiveincome.com or text rental to 33777. Absolutely. And so I also have my own solo show. It's called Master Passive Income Podcast, where it's literally just me teaching how to do this real estate investing. I just want to give this out as many people as possible. Same thing on YouTube as well.

Instagram, the Dustin Heiner. I'm not that arrogant. That's the only one I could find, you know, the only handle. So the Dustin Heiner on Instagram. but I love just to see people's lives change because my life's changed. I'm just like your next door neighbor said, Hey, this is what I figured out. Let me help you out. I before E but not after C does not work with Heiner. It sure does not. H E I N E R. So Dustin Heiner. Thank you, Dustin. Appreciate you. God bless you. And I appreciate everything that you shared with us today.

Thanks Dan. Thanks so much for listening to the No Broke Months podcast today. Until the next show, I invite for you to be grateful, make good choices, help someone, have the best day of your life, and go find a listing. I'm very excited about the conversation we're about to have. I want to introduce you to Dan Rochon, who is the owner and co-founder of Greetings Virginia. I am so excited to introduce my next guest. Dan Rochon reads, he writes, he does improv. A frequent speaker and often quoted about the real estate market.

I'm going to bring on a guy that is a winner. We had some really cool conversations before going live with this show. We have Dan Rochon. So I'm gonna encourage for you to think big. I'm gonna encourage you to think big and then multiply it by two, and then take huge action,

because whatever you want, you're only five years away from that.