The Money Mondays - Jimmy Rex's Million-Dollar Real Estate Deals Revealed💸 E63

Episode Date: April 1, 2024

Jimmy Rex is the founder behind "We Are The They," a global coaching program and social movement that enables men to live an exceptional life. As the host of "The Jimmy Rex Show," one of the most revered podcasts out there, and the author of the best-selling book, "You End Up Where You're Heading,". In his career as a real estate expert, Jimmy has sold over 2500 homes and led his team in selling an additional 4000 homes to investors in the past 20 years. He is an enthusiastic explorer, having visited over 105+ countries and counting in the past six years. Like this episode? Watch more like it 👇 Grant Cardone’s BEST Advice for First-Time Home Buyers in 2024: https://youtu.be/3ZuMj6GiIUY Making Millions with Real Estate Investing 📈 Albert Preciado & Cole Hatter: https://youtu.be/OQO9hhGQf6I Codie Sanchez & Pace Morby on Business Acquisitions & Real Estate: https://youtu.be/F0vWu6r0WMo Watch ALL Full Episodes Here: https://www.youtube.com/playlist?list=PLs0D-M5aH-0IOUKtQPKts-VZfO55mfH6k --- The Money Mondays is a business podcast here to teach you how to make money, invest money, and donate money by showcasing some of the world's most successful people and how they do the same. Hosted by serial entrepreneur Dan Fleyshman, the youngest founder of a publicly traded company in history, this money podcast gives you an exclusive behind the scenes look at how the wealthiest celebrities, entrepreneurs, athletes and influencers make, invest and donate money. If you want to learn more business and investing while you work to improve your financial life, you're in the right place! Subscribe: https://www.youtube.com/@themoneymondays?sub_confirmation=1 Dan Fleyshman, The Money Mondays Learn more here: https://themoneymondays.com Watch all the podcast episodes: https://youtube.com/playlist?list=PLs0D-M5aH-0IOUKtQPKts-VZfO55mfH6k Let’s Connect... Website: https://themoneymondays.com Podcast: https://podcasts.apple.com/us/podcast/the-money-mondays/id1663564091 Twitter: https://twitter.com/themoneymondays LinkedIn: https://www.linkedin.com/company/the-money-mondays/about/ TikTok: https://tiktok.com/@themoneymondays FB: https://www.facebook.com/The-Money-Mondays-110233585203220/

My last four years of real estate, just to give you an idea, with three other agents, I sold almost 500 homes. We sold 497 houses. What? It took me seven years to sell my first house over a million dollars. About four and a half years ago, I sold the most expensive home ever in Utah. I put in like 20 minutes of work and sold a home for 32.5 million dollars. You can do the math. That's a 3% commission.

I made almost seven figures in one day. Ladies and gentlemen, welcome to the money mondays We have a dear friend here as a special guest when you're listening to this podcast. It is coming out on monday april 1st This gentleman book is coming out tomorrow april 2nd. So we're gonna get into that but first I'm here with my co-host the real Tarzan Tarzan has been traveling all over the planet by the time this episode comes out because we're doing it 30 days in advance Which we normally don't do but we had to time it perfectly because Jimmy Rex travel so much Tarzan travel so much and we're here Wait, did I just oh no, I just told you guys who the guest is I this guy sold thousands of units of real estate

He throws an event every 4th of July with like five or ten thousand people show up He just pays for the whole damn thing He throws an Easter egg thing where he drops freaking Easter eggs and the helicopters I mean his intro is gonna take me too long. Please give a warm round of applause to mr. Jimmy Thanks for having me guys. Appreciate it. All right, so Tarzan has has been getting like I keep telling you guys over 200 million views a month except sometimes he's now getting 200 million views in a five to seven day window because his content just getting better and better and better and he's hitting what's called critical mass. Critical mass means tens of thousands or hundreds of thousands and sometimes

millions of people are sharing content for you. A lot of you guys listening as you start to hit 10,000 followers, 50,000 followers, 100,000 followers, et cetera, you're going to hit critical mass points where your content, if you stay consistent with it, is going to get shared by the people that are following you. So, consistency is key. We're going to get into that with Tarzan shortly. But as you guys know, the podcast is going to be 40 minutes long.

We cover three main topics. How to make money, how to invest money, how to give away to charity. Jimmy, who is a very dear friend of mine, does all three of those categories extremely well. So please listen intently. This is one of those type of episodes you're going to want to share with your friends. I can already see the future, the type of answers that are going to come out of Jimmy Rex. Because I've asked him these questions, I've watched him speak on stages for years and years and years. So let's dive right into it. Jimmy, give them the quick two minute bio so we can get straight to the money. Well, appreciate it, Dan. You know, it's interesting.

You never know how people are going to introduce you. It's funny that you use the events because that's like the favorite thing that I get to do, right? Just in long story short, I had a real estate career for almost 20 years where I, you know, was one of the top agents in the Western United States, sold several thousand homes, like you said, also had the chance to invest in, you know, hundreds of homes myself but About two and a half years ago I had a couple investments pay off change the game for me a little bit and I turned that over to my partner and went full-time

I now run a men's coaching group called we are the they and help men Basically connect and form community and find a place where they can be vulnerable, authentic and in integrity. And so that's what I get to do now. And we go do crazy adventures all over the world. Took 70 guys to run with the Bulls in Spain last year. Took a bunch of people to swim with tiger sharks in Tiger Beach two years ago. They sure were a bunch of us going to Victoria Falls next month to go and we're going to go to Kruger Park and you know, so I'm a fellow animal lover obviously but anyway

so it's just really cool to get to do a lot of really cool fun things and In that there's a lot of opportunities to give back and just make amazing connections with guys like you So why is it important for people that are listening to either start a mastermind join a mastermind have some a group dinner with Their friends or co-workers or people in their niche like once a month and get people together, why should people talk to other people in their category or in their niche? I honestly believe the best gift you can give another human is to introduce them to other great people because the acumen like I my influence can only go so far but if I can introduce you to the right people who then end up doing cool things

together then it's infinite you you know, it's infinite, the amount of influence that you truly can have, yeah. And so for me, when I was very young in real estate, my first full year, I had the gift of, I had this coach named Mike Ferry, he's the goat in real estate agent coaching, and he did this event called The Top Producers where you had to sell 75 or more homes a year

to even be a part of it. And so I sold 98 homes my first real full year in real estate with one assistant. And in Utah, everybody was like, who is this guy? I was on one of the finalists for sales person of the year on the board of realtors. And I started thinking I was a pretty big deal. I'm 25 years old, you know. And then I went to this event and the guy to my right ended up becoming the CEO of Keller Williams, Chris Heller.

The guy to my left sold 900 homes that year in Dallas. I'm like, all of a sudden, so I had the opportunity at that age to soak, and by the way, when you're going to people from other markets and things, they're giving you all this, they're giving you the real stuff. So I just soaked up information from all these different people. And then I just took it back and implemented it. And next thing you knew, you know, my last four years of real estate, just to give you an idea what three other agents I sold,

I sold almost 500 homes. We sold 497 houses. What? And so I had the chance. It took me, you'll appreciate this, it took me seven years to sell my first house over a million dollars. In Utah, my average price point in 2008, I never forget,

was $137,000. But after a while, obviously, you change as you're building up your own network and everything else. About four and a half years ago, I sold the most expensive home ever in Utah. I put in like 20 minutes of work and sold a home for 32 and a half million dollars. You can do the math. It's a 3% commission.

I made almost seven figures in one day. But the point of that is, is like, I just implemented all these things I took. And so what was cool, like what's cool about my men's group now is I was just on this journey to improve myself. Like, so I went to every mastermind, every, you know, conference, every networking event, read all these books. And in that I just learned all these things and I met all these amazing people. And ultimately, you know, when it was time, I just share that with other people and the

best parts I took away from that. And it's been really fun to be able to be on the other side of it where I have my own mastermind now Because I probably went to I don't know 50 masterminds before I ever started my own But but it's really cool and you've been even you know We've been out at your ranch and you know we go through these experiences together, and it's the most fulfilling thing ever But ultimately you go to those things because the type of people you get to be around going to networking, going to masterminds, it just, it shortens that learning curve. It just, you know, it compresses time where you can learn what took somebody else 10 years I can learn it in two. So let's say someone out there is listening and they want to get into the real estate

space. So on the topic of how to make money, how do people make money in the real estate space? Is there only one way, is it just selling houses? Are there other ways for people to make money in the real estate category? And no, I always say there's no bad way to get a lead. There's no bad way to make money. In real estate especially, there are so many ways to do it.

Next time you're in a plane, just look out the window. Everything you see is real estate, and somebody owns all that. If you own even three of those tiny little pieces down there, you're probably doing quite well. And so the cool thing about real estate, and here's where I think we're most in trouble with real estate is they try to be

a little bit of everything. Like when you get really smart, it's just one way to do it and then you stick to that way. So for me, when I first got into real estate, somebody presents you a deal and it all sounds good. You're being pitched, so you invest a little bit of money here, a little bit of money there. Some of them worked, some of them didn't, to be honest.

You know, the market fell apart in 07, and I didn't really know what I was doing. And I ended up getting into a couple deals that weren't so good, and what I learned in that was, I needed one way to do it that was just like my way. And so I just started consuming everything I could about real estate investing. And then we just found one niche, one way,

and this is what I think the best way to do real estate is, whether it's pace morby and that's using his method of sub two or it's wholesaling, or if it's buying apartments, we were just ran into one of your friends that owns 11,000 apartment units. I think you find a way and you become the best at doing it that way.

Because it got to the point for me, so my thing was single family homes. So my personal investment portfolio, I got about 60, I have 61 single family homes that are at least 30% paid off, some of them are all the way paid off. So that's my retirement. Here's kind of the way I look at real estate.

If you buy in your 20s, $5 million worth of real estate and it cash flows, that was the key. Like it has to cash flow. And if you just do nothing else right, but you bought that, by the time you turn 45, 50, it's worth 10, 12, 15 million bucks and it's paid off. So I can literally squander every other dollar I make. As long as I don't sell my real estate

or do anything to that, I'm set for life. So for me, I was just, and here was the thing that changed it for me. Like I'm not very good at saving money and I love to spend it. And so for me, I started putting 30% of every check I made and it wouldn't even go into my account. I'd put it into a separate account. And then whenever I had another 50 grand, 70 grand, whatever it was, 20% down, 25% down on a house, I'd just buy another real estate property. And in that, I knew that if I could just do whatever I wanted with this money, as long as I kept that growing. And so now it's kind of fun because, you know,

you put yourself in a position where I literally almost can't screw this up. I have so much real estate that's paid off in so many ways. Like now I get to just, you know, focus over here and build my business the right way, not needing it to make a ton of money. I can throw a ton of money back into it because I have this little security blanket over here.

So I just tell everybody, try to get five, then 10, then 20 million dollars worth of real estate, get it all paid off, and then you literally can screw up everything else and you're still going to be crazy wealthy for the rest of your life. Wow. Wow. All right, guys. So someone's listening and they hear you talk about five, 10 million. How do they buy the first one, the first 200k, 300k property?

How much money do they really need to save up? Can someone making 30, 40, 50 grand a year, is it attainable for someone to be able to buy their first 200k, 300k property? Absolutely. And I have a lot of younger guys go come to me and they say, dude, I got 50 grand, I got 100 grand. What should I invest in? Right? Well, there's only two things you should do if that's the case. Or if you're just getting started, let's say you only have 15 grand. Nice thing about real estate is you can get in

with three and a half percent down, three percent down, five percent down, there's different things out there. So the first thing I tell people to do is buy a property that you can rent half of it. So put, if you got five percent, let's say it's, you know, you save up, get 15, 20 grand, and then invest all the rest of your money.

By the way, until you're making a couple hundred grand a year, I think you should just keep investing in yourself, going to more masterminds, you know, you save up, get 15, 20 grand and then invest all the rest of your money. By the way, until you're making a couple hundred grand a year, I think you should just keep investing in yourself, going to more masterminds, hiring coaches, doing those things, because you just don't make enough money to like truly invest in a way that's gonna move the needle big time. And so you've got to make more money, whether it's going to school or getting a trade

or whatever. Yeah, yeah, yeah. And so the rest of it though, let's say you get $20,000. Dude, you can buy a house. So I, my own house, I'll give you an example. I bought it seven years ago. I bought it for, in Utah, yeah, yeah. And so the rest of it though, let's say you get $20,000. Dude, you can buy a house. So my own house, I'll give you an example. I bought it seven years ago. I bought it for, in Utah this is a different market than like here in California obviously.

But I bought my house, it was 420. It's worth today about 850. I put down 270 grand. I put it on a 15 year loan. I rent my basement out right now. I still rent it out seven years later for $1,500 a month. And then because it's on a 15 year loan, for $1,500 a month. And then because it's on a 15 year loan, it pays off $900 a month on the principal. So I make almost $900

a month to live in a 5,000 square foot house that's worth $850,000, which is a very nice house in Utah. I make $900 a month to live in my house. Right? And so my point is, is like, when you're brand new, buy a duplex, buy a house, you can rent the basement, put down 5%. If you can put down more, it'll pay off most of your mortgage. And then you can buy it owner occupied. So you don't have to put down that much, then just keep doing it. You just keep buying. Don't sell any of them keep buying another one, another one. And you can in two, three years, you can have three or four houses. And doesn't sound like much. The thing about real estate, real estate investing done right is really boring. Like there's so many sexy ways you hear about investing in real estate. And so what we do with our clients is every single client we have a strategy session. We sit down to this day, we take 45 minutes,

we just did it with Colin Sexton, he's the guard for the Jazz, we're gonna help him buy a bunch of properties, just did it with Fred Warner, the linebacker for the Niners, but we do it for everybody. And we just say, alright, let's break down a strategy. Where do you wanna be in five years?

Where do you wanna be in 10? And then we just say, okay, buy one house this year, one next year, two the year after that. And if you follow the plan, you'll be wealthy in five, 10 years. But most people, they don't do that. They don't have a strategy around real estate investing. So they just kind of buy what comes around,

or falls on their plate or whatever, whenever they get the itch to buy something. And so you really want to strategize it and just take that time to upfront know what you're trying to do. And I only know all this because I made all the mistakes, but that's the right way to invest in real estate. So I'm gonna tell you guys one of the few

regrets I have in my life. I was a kid, I was 19 years old, and I just did $9.5 million in sales with Starter Apparel for my clothing brand. So I don't think I know it all by any means. I was like learning, I was asking questions, I was in learning mode and building my company as a, you know, build a plane while you're flying type thing. I go to this guy's house. It took me three minutes to go up his driveway to give an idea how big this guy's house was. I get up there to this meeting and I don't know what the meeting's for and

he doesn't know what the meeting's for either. And by the way, there's no cell phones back then. This is like, you know, 2001 I think it is. So we're like not texting. Okay. There's no smartphones. So get to this guy's house, takes three minutes to go up the driveway and he's in his sevents and right out the gate I'm on a bashful like I don't know if that's the right word under bashful enough. Is that right? Sure, I decided to ask him straight out like what do you do? Like how is this happen? And I said and he's like I don't work. I was like, what did you do? He's like, well, I've never worked I say never worked because you enjoy your work and you're saying like, you know, like haha like

Yeah, I never worked a day in my life because you enjoy your work and you're saying it like, you know, like, haha. Every day was fun to go home. I never worked a day in my life because you love what you do. He's like, no, I've never held a job and I've never ran a company. So I'm like, I wanted to be like a jerk and be like, so did you inherit it? Dad give this, you know, because I'm 19. I came from nothing, right?

My dad was driving a taxi. My mom was supporting us on two grand a month for a family of four. Like, I don't understand money. I just started my company two years prior year and a half prior he said when I was your age I bought one unit for $80,000 and I scrounged together I think he said 12 grand or whatever was to buy this $80,000 unit and he was like and I spent like $4,000 and like paint fixing this fixing that

and then I the value was now $110,000. And then I waited a little bit longer because it was my first place. I rented it out for 600 bucks a month. So I was making 200 bucks a month. And then about a year later, I saved up, you know, $14,000 and I bought one very similar. And then one year after that, I was 21.

And I did a refinance on my first one. And I took out most of the money of what I put in and I Decided to buy a bunch of units and I bought like four houses at like 20 30 grand down payment each Listening to him he's like I now have 4,000 units I've never sold a unit the places I bought for 80,000 100,000 are now worth 300 400 thousand dollars and They all rent for 600 bucks thousand bucks twelve hundred bucks, 1,200 bucks, 800 bucks. He's like, I don't buy anything expensive.

I just kept buying 100k, 200k, 300k, 400k tech places, rent them out for 800 bucks, 1,000 bucks, 1,200 bucks, 300 bucks a month. They cash flow for me, 100 bucks, 200 bucks, 300, 400 bucks a month, and none of them can hurt me. And you guys have probably heard me say this. I always say this thing, I don't want anything that can hurt me when it comes to business. It came from that guy 20 something years ago. He's like, nothing can hurt me and you guys have probably heard me say this I always say this thing I don't want anything that can hurt me when it comes to business It came from that guy 20 something years ago He's like nothing can hurt me if a house burns down I get insurance something happens

That my plumbing is not gonna be something that expensive because my houses are cheap I just buy 100k 200k 300k 400k houses over and over and over and I don't sell any of them and then after a year Or two or three I just refinance them and I do it again and I do it again and I do it again And I have four thousand units and I'll keep having them and my grandparents or my grandkids will have them and my great-grandgrandkids will have them and my only rule is they don't sell it. Why would I ever sell property?

Cash flow. Yeah, well that's, and you know, when I was 21, 22, I bought a couple of units that didn't cash flow and then the market turned, right? And I was upside down, $600 a month, and I lost them. I sold them around $270. Well, two years ago, I looked them up just for fun. They're worth $600 now.

But if I could have kept them, right? So in 2010, I changed my strategy, and I said the number one thing is they have to cash flow so they can never hurt me. And I always tell my investors, look, you need to be able to live with the worst case scenario. And if you have cash flow, you never have to worry. That's the one rule I won't break.

And people get so tempted because the market starts going nuts and they're like, that's only 400 bucks negative a month. It's like, no, no, no, you have to cash flow no matter what. You know, when in during COVID and all that, a lot of real estate was going crazy and all my friends were buying like expensive homes and things and I said, I'm just gonna buy the tried and true the stuff I know that works and so we

found it we studied 91 markets across the country and we found the three markets that had the best macro and micro economics and we found the best cash flows and so I bought 14 homes in Ocala Florida. Do you know where that's at? Nobody does. There's this thing called the villages. Yeah you would know because you're always down there in the swamps and stuff They're in o'cala for it. It's they basically service the villages, which is the largest republican retiree place in the country

It's a lot of just people that moved in they also have the highest std count It's kind of fun as much old people getting after it. But anyway, so o'cala services all those people So I have 14 houses. I bought them on average probably about 145 a house. They're all worth 270 to 300 now in four years. And every one of them, my mortgage is like 600 bucks a month. You can do the math. I'm renting them for 1400, 1500, 1600. So this is my point is like,

I don't have to ever work another day in my life because I bought all those properties. So I just wanted to know that like my worst case scenario, and here's where people get in trouble with real estate. If you ever have to sell the property at the wrong time, you're screwed. That's the only thing that can screw you over. So as long as you don't have to sell when the market's down,

if it's, and that's the only, that's the thing that makes real estate so amazing, is when the market's down, I'm still getting 600 bucks a month. I'm still getting 800 bucks a month. I just don't sell at that time. And then the market always comes back and you know, it averages itself out And so as long as you time the market and you just don't sell when it's down

Those properties they can never hurt you. I love it. All right, so let's talk about the investing side of life Obviously, these are a lot of investments. We talked about how to make money, but on the investing side outside of real estate How do you decide when you invest into a company, a project, you've invested in restaurants, you've invested in cool venues, you've invested in businesses, like how do you decide outside of real estate, what are like your things to determine what you're gonna invest into?

Well, I'll give you guys how I wish I'd done it. You know, it's so fascinating. I so wish there was a podcast like this when I was younger. I was learning this stuff myself. And when you're young, I had a good heart, so I just assumed other people were good too. And I can't believe how many people took advantage of me. Like if you let people, they will take your money.

Let me just say that, okay? No matter how good you think. I invested in a dental clinic in Queen Creek, Arizona one time, Dan. It never existed. Like I didn't even know. Like $50,000 gone, Ponzi scheme. You know what I mean?

Like I had so many things that I invested in. And the role I tell everybody is like, only invest in stuff you know. Because every time I've broken that role, it's cost me. And then obviously you wanna, you know, invest in the person, not in the product and all those different things. But I've learned so many lessons the wrong way, you know?

And what happened is I was buying so much real estate and it kind of just got boring. I wanna invest with my friends. I wanna do some cool projects. Almost every one of those has gone south. I'll tell the story of Nikola because it's a fascinating one, right? The one thing that is both a negative and a positive. But long story short, I had a guy that I was friends with several years ago, seven, eight years ago named Trevor Miltland. And he told me about this idea he had for a truck that was

like the future of trucking and my family's in trucking so I understood it. It was technology, it was transportation, and it was technology transportation and like all in one it was like this truck and you guys have heard the story of Nikola. Well long story short, I gave $500,000 of the original seed round of $2.5 million. That company became worth $34 billion. Hold on, hold on, hold on. Everyone let's do the math really quick. So 500,000 of a $2.5 million original seed round, the company scales to $34 billion valuation.

Billion dollar valuation. Carry on. So I'm just going to give you guys a little, this is lessons that I learned the hard way, unfortunately. And by the way, there's an entire episode of American Greed where they told my story about all this and go watch it. It's very public information. So Trevor was a really close friend of mine.

And so, and he was, he just had this way of like pressuring you when you were signing the paper. I never read any, I didn't, I couldn't afford to learn. I gave him all my money. I just knew it was gonna work. Like this idea that he had, and long story short, it ends up going public during COVID. June 9th, 2020, I was actually doing

the audio book for my first book. So I'm in the studio in LA. I made $20 million that day. Dude, the stock, every time I checked my phone, I'd made 5 million bucks. I couldn't believe it was happening. It was just this crazy moment, right? It was just, it was almost like a GameStop type of situation. And the kid doing the thing like earlier in the day, it went from like $21 to $32. I'm like, dude, I just made like a couple million bucks. And he's so he's watching. He's like knocking the window while I'm doing my audio book. He's like, it's 65. He just made like 12 million bucks. So this is the craziest day. You can't even explain this to somebody,

but here's the tragedy of it all. I didn't know what I didn't know. And the guy that put in the same 500,000 that I did there was another guy put in 500,000 and He was able to sell at the peak or close to it. He walked away with 700 million. Okay What I did not get the same my one question to Trevor. I had two questions I said, are you putting in your own money? He said yes I'm putting 20 million of my own money The second question I had was do I get the shares the same price as everyone else? And he said yes. So I assumed those things were true.

They weren't. I was getting the shares at about a fraction of what the other guy was. So even at it's, I had all these reporters calling me, people like, you got screwed. You need to like look at this. But he was a close friend of mine. I was in his wedding.

Like this dude was, we'd been to Hawaii together, went to Turks and Caicos together. Like he was a good friend. And, but I, at the peak, went to Turks and Caicos together. Like he was a good friend. And but I, at the peak, my shares were worth 32 million. So I'm like, I don't care. I don't have to worry about money ever again. Like he still made me 32 million.

I'm not going to hold it against him. Well, then it came out. There was a bunch of fraud. The Hindenburg report comes out. I'm hunting hogs in Texas one day. Sorry. I like the porny pizzas. So it's all right.

Okay, cool. Sorry, they're roading. I like the porno pizzas, so it's alright. And I lost that day about half the money of the stock just collapsed that day. So 32 million went down to 16 million? It had already gone down from the peak to like 25 and then I think I lost 12 million that day. So I still had about 12 million in stock and GM had just signed a deal with them to come out with this truck. So they were like, the stock was still like holding even though there was some fraud against Trevor and all this stuff. Well the day before I could sell I was locked up here was the other part of it I didn't know the other guy wasn't locked up. I was so if I would mean lock up you can't sell your shares for six months from when

we went public. Okay. So if I had just made sure my shares weren't locked which I'm sure if I would have asked for it he would have given to me because he needed my money when I gave it to him I just didn't know what to ask for. Especially if the other person didn't other person didn't have a course right and his dad was the other one He didn't have a lock up and his brother and all this stuff anyway, so I'm like hanging on I've got my okay. I can still deal with 12 is pretty life-changing still You know I'm feeling pretty good, and I mean I was making a lot

I was making multiple seven figures as a realtor, so it wasn't like you know like oh my gosh I'm finally gonna have money But it was like this is gonna change my life and then the day before I could sell, GM pulls out. I lost another seven million bucks the last day. My God. So the rule that I had on this is number one, I invested, but it's my own fault, dude, because I watched him work with other people.

I watched how he interacted. We'd been on a trip to Vegas once. He was completely out of integrity on some stuff the whole time. I knew who he was, if I'm being honest. And that was my own greed got in the way, my own inability to, I mean, I just, I knew the damn thing was gonna work, you know?

And- The truck looked cool. It was amazing. And dude, he, at one point, it was worth more than Ford as a company. That's insane. It's been around for 90 years. So anyway, my role with investing in stuff like that

is number one, is I will never invest in somebody unless they've already done it many, many times over now. Right. Number two is they have to be an expert in that thing. And number three, they have to be trustworthy. Like all the investments that have lost me money, dude, I had another investment I did with some other stuff and I watched the guy cheat on his wife one time. Like basically watched him walk off with another woman. I still invested with that dude and I ended up losing all that money.

It's my own frigging fault. You know, like that dude wasn't, wasn't honest. And I knew that was, I still invested with that dude. And I ended up losing all that money. It's my own freaking fault, you know? Like that dude wasn't honest. And I knew that guy was capable of that. And then the other thing is, here's the tragedy of the whole thing. By the time I finally sold my stock, I still got a couple million bucks, but I would have made more money if I had put my money in Tesla just in the stock and held it for the five years it took for Nikola to have this crazy. But here was the gift of it.

Dude, I went on that roller coaster like every day. I'm trying to sell real estate on the side still, right? I mean, that was my day job. I'd wake up or go to bed. Every time I woke up, I'd either made or lost a million bucks with that stock. You know how hard it is to go sell homes and make an $8,000 commission when you woke up and lost two million or made a million? It was wild, man.

It was a roller coaster and no one gets to go on. And the cool part was is in that I had about a four month period where I was like, okay, I'll never have to work again. I'll never have to worry about money on like a high level. And so I really got to ask myself a question like, what do I want to do? What do I want my life to be? And the only thing I would have changed in my life then is I said, I want to do less real estate full time.

I want to get into coaching and community building. And so I did that anyway. And so that's kind of the life I'm living now is really what I wanted to do anyways. And so the cool part was, is I didn't need the money. And here's the gift in it all. If I'd have made the 30 million or the 700 million, that would have been my whole story. Nobody would ever give me credit for other things. And like, oh, he made his money off that fricking fraud Nikola. Like he got lucky. He invested in a stock that went crazy, you know, it was a GameStop situation. It's like a lot of guys make their money that way, I think like crypto and stuff. And anyway, it would have been my whole story and I would have lost all credibility. So the cool part is, is like in the end I didn't

lose, definitely didn't get the win I was hoping, but I got to experience that on such a level and go through all those emotions. I was like what a ride, you know Tarzan if you got 32 million dollars today, would you change anything with your life? I probably buy like a herd of elephants You know what I was gonna do with a million of it. This is this honestly the saddest part of the whole thing Didn't even blink That's what I was thinking about the whole time without doing 32 million bucks Buy a big plot of land, a bunch of baby elephants, make a river. Yes! Dude, well I'm a...

Across the street is what I'm talking about. I'm a shark nerd. I'm by the neighbors. Everybody. I'm a big shark nerd. So I was gonna partner with all these shark influencers. We were gonna do this really cool village in Indonesia. So Madison Stewart, she has this thing where... From Maldives.

No, it's in Indonesia I don't know exactly but it's called project Huey which is like project shark and she basically saved sharks instead of hunting them she saw these shark fishermen they turned into tourism yeah so I was gonna pump a few million into that like I was like gonna be able to save all these sharks yes and that was the thing I was legit the most sad about that I couldn't do that project that was the so like yeah it's probably why we like get along. Exactly. Just want to be clear. You do have a plot of land right here. I was talking about here. You're not leaving me, right?

Of course not. It depends on me. It's 32 million dollars in our development. We're going to collect the street and getting our neighbors. So Wild Jungle, if you guys want to come visit, we're not open to the public. We do do private tours, Especially when Tarzan's in town. It's wild jungle. WILD. We sit on 26 acres. There's 209 animals by the time you're listening to this There's probably more because they're freaking making babies left and right these freaking goats and sheep Lambs and getting it in yeah Yeah, seriously You can't visit us here. We are at some point our life goals is to buy across the street There's 144 acres right across the street.

That's vacant land and on our right, 64 acres. So we're just putting out there into the ether that one day we are going to buy our neighbors on the side and across the street, maybe even veterinary next door. Who's probably listened to us right. The second, because he listens to the podcast coming for you Paul one day. Uh, but we'll buy 51%. You can stay there. We just want to add more animals to be better than it

you know veterinary things for more animals because he focused on equestrian we have a lot of different animals here tarzan if you got 32 million dollars and you bought a bunch of elephants what do you do with the other 31.5 million dollars keep buying more neighbors i'm probably gonna overpay for the next neighbors next door and the next neighbors next door. If someone's selling a house for five million and I have a herd of elephants, I will give you an extra three million to get the heck out faster. Leave yesterday. Jimmy Rex, sometimes is it okay to overpay for a piece of real estate?

Depends. If it's for your own pleasure, yes. If it's because you want the land, and it's your dream to have elephants on it, then sure. But I always tell everybody, look, you're the one that's going to live there. If it's your own house, you're the one that's going to be there.

So if it's exactly what you want, and you're not going to be selling for five or seven years, sure, buy it. But otherwise, if it's for investing, no. Like you never should overpay for something. Unless you just know that the potential, you know something other people don't, you know. But otherwise, no, I mean you shouldn't.

Last core topic is charity. So we talk about how to make money, how to invest money, how to give away to charity. Jimmy Rex, let's first talk about your events, because those are kind of like charity, because you spend a lot of freaking money throwing these 10,000 person, you know fireworks things and thousands of kids with helicopters of freaking Easter eggs flying all over the place like walk us through why you spend your own money to throw these events for people in

Your community of Salt Lake City. Yeah, I mean it started out You know I there's a lot of ways that you can sell houses as a real estate agent or get to know people Network market all those kind of things and I just said I, I'm just going to spoil everyone that I can. I'm just going to, it's really hard not to like somebody that keeps making your ha your life better, you know? And it's the old Gary V, you know, job, job, right hook. Like I'm just going to give, give, give.

And eventually people are going to want to use me for real estate. But I also, there's this principle in doing things like this, where people getting screwed up and it's why I think you and I, Dan have worked so well together in so many things is you have to give expecting nothing in return. And so few people can truly do it. I remember you sent me a text one time, a compliment. You said you're one of the few guys that just shows up

and really overdoes it and does what he says he's gonna do. Like you don't need anything in return. Like, because it's just the way of being. And when you're that way, you're that way. And so when you do that, doors will just blow open for you. And so like I had people try to quantify it. You know, they wanted to partner with me on my events and they'll be like, all right, how many leads can I get?

I'm like, I have no idea. I don't get leads in my events. All I know is that if I throw a party for the community once a month, we'll rent out the water park in town. I, you know, the Easter egg hunt where, dude, honestly, it's kind of like as a kid, I'm a big, I'm an adult kid.

Like, let's just be honest. We all are. Yeah, exactly. Like we were rolling in the mud with Pedro's thing yesterday and I was just laughing. I'm like, this is what a kid would love. Like, is he kidding me? I used to like get in trouble for doing this.

And anyway, I just said, I'll just be the person I needed when I was a kid, you know? Like be the hero of your own story. Like who, like there's so many people that show up to my events. There's little kids that every single holiday in their entire lives, they've been able to be entertained because I've thrown these amazing events for them.

And think about as you're a kid, dude, and you're like watching Easter egg, 10,000 Easter eggs come out of a helicopter. You're getting pelted. It's so funny, the kids are getting drilled. They're full of candy. And, but like, you're never going to forget freaking that time an Easter egg hit you in the face and you had a bunch of jelly

beans after, you know what I mean? Like that's a lifetime memory. And so for me, I just get lit up knowing like I've had a little kids run up to me at these parties like several times. They're like, I just want to be you when I'm all there. Like you know how cool that feels? Like it's just fun. And so anyway, honestly I started my career selling for Sell by Owners and calling for three, four hours a day. And I just converted it to just giving to the community. And so, you know, the money would just always come in. The deals would come in.

But you know, even since I'm not doing real estate full time, I'm like, I just love doing this. It's just a fun way to give back to the community. And so ultimately those events are just my way of trying to honestly be the kid that the guy wish I had when I was little. All right I'm gonna ask a very intense question. Timorex, you've spent many many many times going to different countries to help rescue children from sex trafficking. Can you talk us through,

without talking about the companies, talk us through the actual experience of going out there, I think you've done it 10 or 15 times now, where you have to change your look and style and feel and like go out there and face the devil. Yeah, yeah, I've been on 13 ops. I haven't done it for a couple of years now that I'm more public. I don't do it anymore. But you know, I, there's these moments in life where, you know, and the name of my company is We Are The They, and I'll explain that because it kind of tells why.

Like the first time I heard about this, you know, this company that was this charity that was going in and rescuing kids being sex trafficked I was like, oh my gosh, like I Need to be a part of this like I can help here and I honestly asked myself the question right then I didn't have the whole Motto of we are the day yet, but I said if I can't go do this who can I have money? I have influence. I have time if I die. No one will be that devastated. I don't have kids or a wife I was like a few people be sad, but like ultimately nobody's dependent on me And so I just like found a way to be a part of this and I'll never forget I went on that first stop You know and you you have this rescue and it's just life-changing like when I was going through my hardest time in real estate

2008 2009 I was just paying off debt and paying off bills. And I had a quote on my wall down. It said, show up today for your future self. You never know who's going to need you. Because I had to motivate myself with something bigger than the moment because the moment sucked. And sometimes when the moment sucks, you just, so I always said like, and on my list of goals, one of them was save someone's life one day.

And we had the chance to go do this and it was just life changing. And you know, after doing multiple ops, we had one that was really dangerous. These guys were professionals. They were very evil dudes. They had a perimeter set, the whole thing. And I'll never forget after we did the takedown, we did the rescue. And the coolest part of the takedowns, by the way, is like the rescue was great, but we never really got to see it.

So it's just different when you don't see the kids getting saved because they would arrest us as well as the traffickers. And so they would take us to the airport and take the traffickers obviously to prison but we saw these traffickers and one of them was a lady she was a middle school teacher and She would use her position at school and she'd lure these girls say hey I'll give you 20 bucks if you come to the 200 pesos Whatever if you come to this party next thing they know they're being raped and then they'll tell them if you say anything We tell your parents blah blah blah So these kids are like trafficked from their homes a lot of times.

That's how it works and one of the ways it works. Anyway, we took her down and I always think about how many hundreds and hundreds of kids we might have helped not get put into that situation because of that one rescue. But on the way back from the airport one time, I was, you know, this one mission in particular is we took down some really bad dudes. I'm telling my girlfriend about it in the car in my truck and she pulls over and she looks at me and she goes hey I don't want you to do this anymore. I was like, what are you talking about? He's not just here what I said and she's like, I know it was like it's super dangerous It's a bad environment. It's like I know but like this is gonna be like part of my life's mission now

And she goes I know but like why can't they just do it and without even thinking I go there is no they we are the they and when I said that I was like it sent shivers down my whole body and I was like oh my gosh I was like that's my new look I still get shivers things in it so I put it on my arm as a tattoo um and that became my life motto it's like you know we're always like then you do something about this but like the truth is is like you have to do it like if you see a problem in the world, that's with you guys, your rescue animals, doing all these things. It's like, no, you're doing it. No one else is coming.

If you see an issue, go do it, be the difference. And so that just became my life motto, and it's created what it's turned out to be a really fun way to live. So Tarzan, similar, intense question. Poachers, whenever I ask you anything about it, you get the serious face on. Talk to us about why poaching is so damaging to our society. Man, it's hard to talk about because I've seen it a lot when traveling.

Deep Africa, for example, just seeing rhinos with their faces cut open, elephants, you know, all shot up on the ground. It's a hard thing to see, you know, and it enrages me because, you know, you guys asked me, it was the first thing you get, you know, it's like a herd of elephants. I have really soft spot for animals, you know, man, and know that there's people out there there that will kill them for no reason other than

keratin, ivory, tusk, it breaks my heart. And it gives me a bad taste in my mouth for humans. And it's not right because not all humans are poachers. It's just those few bad apples out the bunch. And when you start doing real research and figuring out why people are actually hurting rhinos and giraffes and elephants and lions, you know, it's the people that live around these reserves that don't have anything, you know. It's like, hey, give this guy a location of a giraffe that's albino giraffe that's like two in the world. This

guy hasn't fed his family in months, you know. He knows, he lives on the edge of his reserve, and some random rich guy comes up and says, hey, I'll give you 2,000 bucks, which will feed his whole family for the rest of the year, let alone $20,000. That animal's worth whatever you want on the black market. So these guys have no remorse because they're trying to feed their family.

The other guy's trying to make a quick buck because he's making 10 times the amount on the back end. And it's a sad thing to see, you know. Man, I know a few guys not going to drop their names that go out and hunt these bad guys, you know. Hunt the poachers. Hunt the poachers, you know.

And many times I've helped them out, given some dough. Me and another mutual friend of ours, put together a campaign and raised like almost a million bucks from them in a week. And I mean, they got drones and cars and you know, just different things that helped them combat these problems, you know, and it's good to reverse, I call it man putting his hand in nature. It's good to help reverse that sometimes.

If I wasn't Tarzan living on social media and doing all those things, I'd probably live out there in the bush hunting bad guys. Be my thing. Well, what's so cool about what you do, if you don't mind if I chime in, is my life forever changed in an ocean when I was open water diving and a tiger shark

came in from the deep blue. And it wasn't fear, it wasn't anything but pure love for this animal. There was no cage, no wall between us. It was an energetic exchange and I forever changed my entire life towards animals, the ocean and the earth. And getting out there and seeing these animals, into Africa multiple times have done all these things because when you see an elephant in the wild and then you research about them, you're like, oh my gosh, they help raise each other's babies. This is crazy.

You can't help but want to help and protect. And so what you do, which is so cool, the awareness you guys bring is like, you have so many people come and experience these animals just just even here at the ranch, where when you care about something, you actually do something about it. And so just being able to change people's minds towards those things makes a giant difference for those animals. Yeah, man. Having a platform with animals, I got to be the voice for the voiceless.

Animals can't say, hey, I'm getting wiped out. They can't say, hey, my brother and sister just got killed a few weeks ago. They don't have a voice to say that. So someone's gotta be the they. There's people out there that do it. I'm one of them. When I was traveling once out in deep Africa, they actually caught a poacher and they did some really bad things to the guy in front of me and I had no remorse for it. They didn't kill him, but he ended up getting arrested,

and he ended up giving out a bunch of locations out to where other men were with guns and ivory and all types of stuff, and it ended up being like an eight-man bust. But the problem is, the guys got like 13 months in jail. So they're gonna make hundreds of thousands of dollars and millions of dollars, do some small time and they're gonna get out and go back and do the same thing.

You know, so it sucks, man. It's a bad revolving door, but there's people out there fighting that fight, you know, and I think with the right time, the right people, the right money, you can turn the tables, you know. That's awesome. Last question last question Jimmy Rex it is April 1st right this second and tomorrow on April 2nd your book comes out what's the title what's it about where can people get it tell us everything yeah no

thanks for mentioning that so it's called be one and it comes from the quote for Marcus Aurelius which is waste no more time arguing about what a good man should be be one and the subtitle is how to be a healthy human in Toxic times and super private is basically kind of the program. I put my men through it's just really we live in really interesting times It's really hard to navigate for men and for women everybody to kind of what is the right way? How are some of these things we can? shouldn't do or should do all these different things and Ed Milet did the forward for my book book. He said the other day, he said, it's rare that a book will come by at its right time

in the right place and men need this book to help navigate the world we're in. So that's the best way I can explain it. Wow. Where can people get it? It'll be on, yeah, it's on. Barnes and Noble is on now. You can pre-buy it until tomorrow. Amazon, Barnes and Noble, all the above.

Hi guys. You were listening to Mr. Jimmy Rex on Instagram. That's MRjimmyrex on Instagram. He also has a great podcast and he's done I think four or five hundred episodes of that podcast because he started five years before we did here. Obviously the real Tarzan, follow him along on social media. And it's really important guys, have these discussions with your friends, with your family with your followers with your co-workers about money we all grew up thinking it's rude to talk about money and us here inside this RV motorhome think it's rude to not talk about it you've got to learn about finances investing accounting taxes all the things that are real-life situations

there's nothing wrong with talking about reality you're not flexing on people and like you're talking about it because you need to understand your salary, commissions, loans, financing. There's so many things that are involved around money, which is a reality for you, and why so many millions of people are in debt, because they just don't understand money. We need to have these discussions.

So thank you for sharing the podcast. We've been number one entrepreneur category for 43 out of the 54 weeks since we started. That's because of you guys sharing the podcast, sharing clips. I'm sure there's a lot of fun clips that'll be shared by Mr. Jimmy Rex here. I appreciate you guys. I remember what Jimmy said. There is no day. We are the day. We'll see you guys next Monday.