The Science of Flipping - Episode 126: How Scott Went from Zero to Seven Figures

Episode Date: August 1, 2018

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Welcome to the Science of Flipping podcast. I'm your host, Justin Colby. Justin Colby. Yo, yo, we are up. We are back with another episode of the Science of Flipping. And if you are watching this on YouTube, which you might be, you will see I have a special guest. Maybe you're watching it on Facebook. Maybe you're on Instagram. I repurpose these podcast episodes everywhere. But you can see this guy's a smiling ass dude

because he's from the Midwest, man. They're always so happy. So welcome back to the Science of Flipping. Mr. Scott Bauer, what's up, my friend? Hey, man. I'm doing great. Thanks for having me today. What's going on? Yeah, dude. You know, I think I hit you up this morning and said, hey, bro, want to do a podcast? It's been about time, right? Right, right.

So I didn't really have a bunch of intention. I wanted everyone to know who you are. You and I obviously have been working together for quite some time back when you first got started, right? You and I sat down and you came to me and I was able to help get you rocking, right? How long ago was that? 2013. Is that crazy? Five years ago?

Right. That was when I first met you. Yeah. Yeah. And so I've been along the way with you and helping you, but now, I mean, you're crushing it. I mean, making tons of money. You have your own podcast, which I want to talk about. I want everyone to get introduced to your podcast, Invest This. It's actually right behind. So for those of you watching this somewhere, it's actually right behind his head. And what you go over on Invest This is obviously,

you have an incredible amount of knowledge, not only with just the real estate part, but the reason why I thought about you being on this episode and this morning being like, dude, I got to get my boy Scott on here is just as an entrepreneur, right? And being able to go from kind of a solopreneur to an entrepreneur and running a business and being profitable. And so let's just kind of, I mean, I don't care where we start, but I mean, the reality is, um, you came into my office five years ago, obviously, and wanted some help. And I said, I'm there for you. And so you've taken, I want to get into the industry. You've taken my guidance and now you are doing what, where are you now as a moment in time, 2018, uh, what's going on with your business? Yeah, I mean, this year, super exciting because year over year, we've been able to double the business from a revenue standpoint every single year, almost for the last four years consecutively. And we're on track to do it again this year.

That'll be $1 million in revenue. Oh, okay, player. Okay. Which I'm really pumped about because it's one of those things that it's a goal that you kind of don't really believe it to be true. And I think that goes with just starting a business in general. A lot of starting a business or getting involved in your own business is not the how to do it because it's very easy to go out there. And I mean, especially today's age with all the information that we have on the internet, you can go learn about whatever you want on the internet and it'll tell you everything you need

to know, but that's not what forces you to go do it. You have to get out between your ears and you have to get help. I mean, in all reality, that is such a key component of it. You have to get help. It seems like the most daunting task ever to go out and try to do this on your own. It doesn't matter what it is. Would you agree to that? A hundred percent. No doubt. So, you know, going on that five years ago when we met, I was searching for help. You had already been there. You'd already done this. You already had a business that was successful. So how do I take what you did and how do I do that for myself? And that's exactly what you and I have done together, right? I mean, I watched and I learned from you and from, you know, how you operate your business, how to operate a

business and you know, you just basically copy and paste. Yeah. And that's to your point. I mean, that's, there's nothing new to real estate. Right. Um, and so whether I'm working with you or I have other, you know, clients that come to me one-onone, just like you did, I'm not reinventing the wheel for them. But what I'm doing, I'm giving them a blueprint to say, just do these things, copy and paste this. And if you do it, you win, right? I mean, that's it. And the reason why people don't win is they just don't do, right?

But no, absolutely. I just did something. I just did a training on, win is they just don't do right. But no, absolutely. I just did something. I just did a training on, you need to be able to have someone who's your leader, right? Where you're following their footsteps and you're tracing their steps and doing what they're doing. And if you don't have that person, you need to find that person and be around successful people and level up because it doesn't matter where you're at. I don't care if you're Tony Robbins. If you've ever been to a Tony Robbins event, he spends a lot of time talking about his leaders, his mentors, the Ray Dalios of the world, and so on and so forth because that's

just an important part of business. It doesn't matter what level you're at. You have those people. And I also, I don't think it just goes in life in general, right? You got to surround yourself with people that you want to be like, you want to surround yourself with positive influences with people that have been there, done that, that can help you along the way. And so it's no different when it comes to business, you have to surround yourself by people that play at a bigger level, a higher level than you in order to play at their level. A hundred percent. I agree a hundred percent. And%. And so what has been a transformation for you going from you came into my office five years ago, you hired me and you said, I'm ready. You

started going and now you've built a successful business, right? That, you know, you go from making $0 to five years later, bringing in over north of a million dollars in revenue. That's no small feat in five years when most businesses go out of business in two years. What has been that for you to make that jump? Continual learning. The reason why I'm going to ask you that is you, I mean, you went faster than me. That's the whole point of what we're talking about, right? I didn't do north of a million in the first five years, right? I did, you know, 14 grand my first year, second year, you know, point being is it took me, I think seven years in the business to break the million dollar mark. And that was just because,

you know, I just wasn't taking the advice or whatever it may be, but you shorten that learning curve because the people you surrounded yourself by. Yeah. And I mean, that's, that's a, that's a big, big part of it. So one major thing I'm huge in is all about learning and I'm massive and coaching and mentoring. I've spent, I've spent, I don't know, some, somewhere $200,000 in that area in the last five years. And really at the very beginning, I over leveraged myself to get that support. I remember even signing up with some coaching through real estate worldwide. I put it on a credit card that really didn't have the money to pay for, but I knew that surrounding myself with the people that can show me how to get there would be the difference. And here I am the proof. I'm proof that that's

the truth. And so, and you know, it continues now. It continues today. I don't ever stop with that. I'm not going to stop investing in learning and investing in myself because I know that there's always another level to get to. It might not just be the money standpoint, but now how do I make an impact in the world? Because ultimately for me, that's, that's the big picture. Making money is great. We all love it. It's a lot of fun. But at the end of the day, how can I influence people and how can I make a difference in the world so that when I leave, all of a sudden they know that Scott Bauer was here. He did this. He was able to do this. I have something that's pretty big that I'm excited about right now. There's a nonprofit

called Midwest Food Bank and they have grown exponentially over the last five years. And I'm going to be starting to contribute to them on a consistent basis, not only my money, but also my time and really trying to push that because I know that that impacts people. I'm changing lives by doing so. Yeah. Well, so the way I phrase it and you can copy this or steal or whatever, but I'm all about making an impact in income. So if I can make a big enough impact, I'm going to make a big enough income period. And so that's why I started this podcast in 2010. That's why I've mentored, coached and done, you know, well over a thousand people in my, you know, coaching, mentoring career.

I have a passion and a purpose. And you're a part of our highest end mastermind, the billionaire boardroom. And you're around myself and Kent and Sean and Brett and so many other high level achievers. And we share personal time and personal moments. And it's, I mean, I almost get shivers talking about it because it's so personal and there's so much more impact on that level that the more impact you make on the more people, the income's just bound to happen. It's actually pretty funny because I remember I was a realtor right when we met and I listened to your podcast. That was the

whole reason I even met up with you because it was like, wow, you know, I listened to your podcast. That was the whole reason I even met up with you. Cause it was like, wow. You know, I listened to the entire podcast, every single episode. And it was like, oh, I know I got to go meet this guy. And it wasn't to put you necessarily on a pedestal, but I knew that you could help. I knew that you were going to be the difference between me getting from where I am to where I want to go. And that's, I mean, that's what it's all about. The other part with, with coaching, mentoring, people look at the cost of it. Okay. You say, listen, you know, you want, you want to be coached and mentored by me. This is how much it's going to cost you. It's going to cost $10,000. It's going to cost $20,000. And people look at that number and they're like, Oh my God, $20,000. But what they don't look at is the value that that brings. So when you're, when you're investing yourself and you're investing

in coaching, mentoring, or whatever, you always got to look at what value do I get out of that? And I can tell you that all of the coaching and mentoring I've had so far, there's almost not even a dollar I can put on it because it continues to keep going. It never stops. Once I learned something and all the listeners out there, once you learn something, you can't really forget it. I mean, I guess you can, but once you know, you know, right. And there's not a dollar figure you could put on that. Once your mind expands, it can never contract. Have you heard that before? Once it expands, it can never contract. And so once you get that, it'll never be able to go away from that point. And I would say, I'm going to get to another point, but just like yourself, I mean,

I'm such an advocate of getting around bigger, better people. I personally just hired two different, simultaneously two different business coaches spending north of 50 grand to do so, so that I can work on the business that I'm in, right? So I have two very successful businesses and my time gets scattered and I can't focus and I need that help, right? And so they're coming to me and refining my two different businesses. And so still at my level and well beyond,

I will forever, just like yourself, and I think you got it from me, I will forever invest in myself because it's an investment in myself to take the future. Because once my mind expands, it can never contract. So with that said, dude, I want people to know about your podcast. I know you're out there trying to make an impact. I know you had me come onto the podcast. I know you have many other very successful investors in the real estate space as well as entrepreneurs. But talk a little bit about what your impact is with Invest This. Definitely. So I am the host of the hashtag Invest This podcast. You can find it all over everywhere. I encourage everybody to go out there and listen to it. And the reason why is because it's an interview-based podcast where I only have successful real estate investors that come on and

really just successful business owners in general. There's some other people that are getting on there that I'm interviewing and talking about, you know, what makes them successful? What can the listeners take from the podcast, listen to it and then invest it in their life and in their business to keep them moving forward? Because that, you know, that's a, that's a free source of information. It's a free way that you, people can get on their short, you know, 20, 30 minute podcast episodes. And you can learn so much, even if it's just one thing that you get out of each episode. Yeah.

You know, it's, it's fantastic. No, I agree. You know, it's allowed me to, I guess, broaden my horizons. Matter of fact, tomorrow, um, we're closing on a, uh, 120 unit apartment complex. Very cool. Really exciting. That is very exciting. And we're going on another 216 unit apartment complex in Atlanta,

Georgia, uh, just outside of that. So we're going to be having a conversation after I get off this call, actually with, uh, some investors on that. So pretty excited about that,

but I would not have gotten, had those opportunities come to me had I not, you know, branched out and continue to keep learning, continue to keep around myself with people in different areas. And so, um, you know, this 120 units is in Lexington, Kentucky. It's not even close to Phoenix, right? I've never seen it, touched it or felt it, but I can tell you I'm a part of it and I'm tomorrow going to be an owner of it. So I love that. Who else do I know? Anyone else involved? You don't.

The guy from another coach mentor of mine, Joe Fairless. Sure. It's out there. One of his students, I believe it's one of his students was how it was all. We all got referred to each other and it was awesome thing after the next. And here we are, you know, sitting there. I wish you the very best of luck dude that is awesome i am not currently an owner 120 units so uh very proud of you bro i i think you've come a huge

distance in five years i know you have a huge distance to go uh and i look forward to being along your shoulder dude and going side by side and continuing to crush it, dude. So, um, again, invest lit, hashtag invest this on iTunes. Where else can people find you, dude? Apple. Um, I mean, literally anywhere you can listen to a podcast, we're out there now. So my, my assistant's been phenomenal at getting, uh, getting it, making sure that I'm accessible in any way, shape or form you could possibly think to listen. So please get out there and listen to it. I think you get a lot of value. Well, I know you're crunch for time. I'm crunch for time, dude. I'm going to let you go. Anything that you wanted to say before we jump off the call?

You know, I would say just for all the listeners out there that are trying to achieve something, one of the major things that has allowed me to continue to excel as well is the fact that I'm not willing to give up. I will not ever give up. No matter how many times people or anything tries to beat me down, I'm going to try to get back up every single time because that's the only way to succeed. And so all the listeners out there, they're probably in all different aspects of their business and different levels of their business,

but don't give up. As long as you don't give up, you can never be beat. There you go. Amen from a true champ right there. The way I look at it, life is going to keep punching me in the mouth. It doesn't stop punching me in the mouth. So I'm just going to keep going and punch back

and give it all I got until I'm done. So, all right, brother. I appreciate you giving us some time. Everyone needs to go hashtag invest this. Check it out on iTunes and all the platforms. My man, Scott is a beast. So that's it, man. Thanks, man. Appreciate it.

Later. Later.