The Science of Flipping - Episode 64: Justin Colby and Kent Clothier Break Down Your Business | Real Estate Investing Podcast

Episode Date: April 30, 2015

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Welcome to the Science of Flipping Podcast. I'm your host, Justin Colby. Hi everybody, it's Ken Clothier. Welcome to today's call. Glad you made it. We are going to have a little bit of fun today. Going to cover some cool stuff here. Hopefully everybody is ready to jump in, pay attention, pay very close attention. It's our intention today, myself as well as Justin Colby, my guest here, that we are going to break down specifically some information that's very, very tactical today. A lot of times when we're doing these training webinars, we introduce a lot of different systems or different opportunities

or different strategies, techniques to be using in the market today. Well, this call is completely different. As I told you in the email, nothing to buy here. It is 100% content. In fact, we're going to kind of pull back the curtains and show you the operation and exactly what these guys are doing in their business today from a very tactical standpoint, lead management, how they're dealing with sellers, how they're managing their systems, how they're doing their processes, things that, quite frankly, what I know been doing this for a very long time what i've uncovered is that it's it's these things that inevitably hold people back right in some way

shape or form basically what happens is is even if you get out there and you're just working off the yellow pad and paper and driving up and down the streets and banging on doors and just doing it the good old-fashioned you know nitty-gritty way, you can experience some success. And by that, I mean you can actually pay the bills. You certainly don't own a business. You certainly don't have a life. You certainly aren't doing anything that's exceptional at all, right? You're making a living, which is okay.

But I just want you to understand that that's not what we're here to talk about. What we're here to talk about is how you go from just making a living to just making a really good living to, oh, my God, I own a business, and, oh, my God, I own a really big, bad-ass business that's creating hundreds and hundreds of thousands of dollars, if not millions of dollars for me each and every year. That's what we're trying to walk you through, that natural progression. And inevitably, there are things that are going to hold you up in that process. And one of the things that holds up almost everybody at some point, some way, is the actual systems, the process, the integration. How do I go from a yellow pad to an actual computer?

How do I go from the computer to actually people in personnel how to hire people train people how to make them do this because i can do it what a what the steps in it so that's really what we're gonna start talking about so that tactical stuff to help you can get out of your own way get out of your own head and kind of make things happen here so with all that being said couple housekeeping rules here i want you to

uh... make sure that you're ready to take really good notes here. As I said, you don't have to worry about any pitch, any big hard close. None of that stuff is going to happen here today. This is 100% pure content straight from the horse's mouth. We're going to sit here and go step-by-step on some of the things that you should be doing and implementing in your business right now from a systems standpoint. Now, my guest today is a guy by the name of Justin Colby. Justin, are you there, brother?

I am good, sir. How are you doing? Good, brother. One, thanks for being here, and two, hold on one second. I just want to make sure everybody knows kind of who you are here. So Justin and his business partner, Eddie Rosefield, are two very, very close friends of mine. And we have an interesting kind of background story here. These are guys that have been doing the business for a number of years now and actually kind of came into my world and started using, I don't know,

I guess probably five years ago or so, started using some of our systems, started really using some of our methodologies, became a couple of coaching students of mine, spent time in my offices in Memphis. I've spent time in my offices in San Diego. And through that entire process over many, many years, like I said, we've become really, really good friends. I have a great deal of respect for them. These are not guys that I just, you know, kind of work with. They, you know, a little bit here, a little bit there. These are guys that I talk to every single week that i care very very deeply about their business their success of what they're doing so much so in fact that uh about uh i guess about you know that almost a year ago maybe a little bit longer um after teaching these guys what we do and watching the way they were

working with some of their own local students, these guys were starting to teach other people locally in the Phoenix market how to do what they were doing, we came together and decided that we were going to do something epic. We were going to change the real estate industry. We were going to go out and really let people get in at the ground level and have people kind of take them by the hand and show them step by step by step how to do real estate. And, in fact, do it in a way where these guys were actually going on site.

In some cases, we've had students actually come to their offices and spend a couple days with them. It's something that you would never get the chance to do in any other capacity. Suddenly, we've made that a reality. Justin and Eddie now head our entire coaching department at Real Estate Worldwide and have a number of people around the country that they work with to help coach hundreds of students around the country at this point and show them exactly that. Like I said, our coaching program is very, very unique in that it's not just some system. It's not something you log in and watch a few videos and maybe get on a few phone calls.

No, this is hands-on, in your face, nitty-gritty, kind of punch you in the mouth every once in a while and say, hey man, this is what you got to do every day to be successful on site at your location, at their location. And really, like I said, you getting this full immersion, this full experiential type training where suddenly it's life changing. Suddenly you get to see how it's actually done versus some theoretical BS that somebody is professing to you across the internet. I can't even tell you how honored I am that two of our best students,

guys that have gone out and went from just flipping a few houses to now flipping at one point hundreds of houses each and every year and extremely successful, are the very guys that thought so much of what they learned through us, that have turned around and taken it upon themselves to say, hey, let us be the leaders out there to go show the world this information in a much bigger way. And so Justin is also, you guys have probably, he's got a very successful podcast called The Science of Flipping. He's got a very successful book out there on real estate investing. The guys all around, he's a true leader in the industry's a guy that's right on the leading edge he's doing the deals he's

using our systems he's teaching our students he's showing people how it's done so I'm honored that he's here and over the course of the next few weeks you guys can look forward to myself and Justin really showing you again some of the nitty-gritty some of the stuff that we're sharing with our students in an intimate one-on-one environment. We're not going to share it all with you, but we're certainly going to share enough of it with you that you're going to be dangerous. You're going to be able to go out there and do some deals and make a little bit of money and make some stuff happen.

So with all that being said, Justin, you ready to get started, brother? Let's rock, dude. I've been ready. Enough coffee to kill an elephant. All right. So, guys, like I said, real quick, housekeeping. Make sure you're ready to take notes. Shut everything down.

Get away all the distractions. Get a bottle of water. Do whatever you've got to do. Close the door. This is going to be probably 45 minutes or so. We're going to go pretty fast, but not too fast. We'll make some time to answer your questions. If you have questions, this is what I want you to do.

I want you to type them in the question box, and one or both of us will reply back to you through the chat box over there while the other is speaking. What our intention here today for this specific training, this webcast, is to kind of break down some of the systems, right, kind of give you a glimpse of what's going on behind the scenes so that you can kind of excite your imagination if you will i want you to see what's possible when you actually have systems in place and then i want you to appreciate how easy it is to put these systems in place so uh... again get ready let's go let's kind of jump into it and take some notes here now you're going to hear justin and i

banter back and forth a lot uh... and kind kind of break each other balls a little bit in the reality of it is the reason why we do it is because like i said this is what you know this gets one of my best friends and i i think the world of the next is the way it is so if you're easily offended by two guys you know kind of just going out a little bit well this might not be split her might not be feeling that it's going to happen i'm just going to let you know now all right it was just kind of jump into it.

So you're controlling it. You're going to drive here, and I'll give a little bit of a play-by-play, but you kind of take them through a little bit of the slides here and what we're going to start going through. Yeah, and I think the number one thing right in today's market, Kent, is all of our students and any investor that I ever talk to, and we go to local masterminds here in Phoenix, and you and I are part of much larger, very expensive masterminds. I know you're going to agree, but every time we go to local masterminds here in Phoenix, and you and I are part of much larger, very expensive masterminds.

I know you're going to agree, but every time we go to a mastermind, the number one thing is there's not enough deals out there. I can't find enough sellers. I can't find enough deals. I have the money, or my buyers are begging for it, but I can't find it. I think the first thing we really need to break into and kind of break down is really how do you find the sellers, what to do with the sellers, and when you have them, what do you do with them and how do you get the actual deal? And that's where

I want to start is finding the sellers, dealing with the lead flow, how you're managing the lead flow, and moving forward from there. Yeah, so one thing I want to make sure that we definitely say here, right? You're going to hear me kind of make disclaimers here from time to time. And I'm also going to tell you what's really important, what you should write down. So from a seller's perspective, here's what I want you to just appreciate, right, is that perception is reality. If you believe there's no sellers out there, you make that real in other words you won't try that

hard you won't put the effort into it you won't do anything to go out there and actually create the sellers and create the opportunities and therefore your business will die and you will go to work for somebody else here sooner rather than later it's just the way it's going to work on the flip side if you sit back and have a healthy appreciation for the simple fact that the market has tightened up, and it's that simple. The market's tightened up. There's more people going after less inventory, right?

But are there still a lot of deals out there? Absolutely. Are people still experiencing crisis every single day? Absolutely. There's no shortage of death, unfortunately, as morbid as that sounds. There's no shortage of divorce. There's no shortage of divorce. There's no shortage of foreclosure and bankruptcy and people that are going through crisis. So the thing I want you to write down is all the money is made in real estate in crisis situations.

So Justin's going to talk to you about marketing and all this. We're going to kind of go through this, but do not ever believe that there are not deals out there. And all those people that sit around and piss and moan and talk about, oh, man, there's just nothing here, there's nothing there. Well, you know what? They're going to make that real. And that's your competition, so let them make it real. As far as I'm concerned, there are plenty of deals. All I need to do, you know, depending on what, just ask yourself.

You know, Justin, how many deals a month are you guys trying to do in Phoenix? You know, five to ten, what is it? Yeah, we're consistently at this point doing three to five. We want to be able to get to ten, but the reality is I have a lot of quote-unquote competition, which is not competition at all. They're actually my friends, and we work well together. But we just went to a mastermind last week, and they were just bitching and moaning about, oh, there's no deals, there's no deals, and we're looking at our bank account and we're having the best

return on our investment that we've had to date based on the deals that we're doing here in Phoenix. So how many deals are you trying to do in Dallas every month? We want to do five every single month and that's going to quickly jump to ten. Okay, so here's my point. Are there enough deals in Phoenix every month for you to do five? Correct. Okay.

Are there enough deals in Dallas being done as a real estate, you know, as an industry? Are there at least five deals being done in Dallas every month as an industry? Absolutely. Okay. So as long as there's at least five being done in Phoenix and at least five being done in Dallas, even if you have to go and get a hundred percent of the market, you still get to get your five. And that's what I want everybody to realize here. Yes. Well, can it be harder? Absolutely. But be realistic. You're trying to do three to five deals. If you

can do five deals in Dallas and five deals in Phoenix every month, that's 10 deals. It's 120 deals a year. You'll make more money than you money than you know what to do with. It serves every purpose for you. So the only focus is, is how do I get my five? Who gives a shit about what everybody else says about, oh God, well, I can't get it. No, at the end of the day, there's at least five deals being done. So that just means you've got to be a better marketer to go get five. And the reality is, it's probably closer to 5,000. So just focus on what you're trying to get done. And that's kind of the big takeaway here. I just want to make sure everybody understands that you're going to have to go market,

and you're going to have to be aggressive, and you're going to have to make things happen, but it's there, period. Yeah, and a great side note maybe to add to that is not only are we doing three to five a month here in Phoenix, we just ran our numbers because we're trying to get our business a lot more by the numbers. Our average profit margin on a wholesale deal right now today in Phoenix so far this year is $18,000 is our average. It's gone as high as $32,000 for a wholesale deal and under $10,000 for a wholesale deal. But if we're doing five a month with an average of $18,000, it doesn't take a whole lot of time to start doing that math. Yeah, totally. All right. So again,

that's kind of the side note. I just want everybody to get on the same page. Don't sit there and piss and moan. You're in the wrong place if you're going to piss and moan and talk about, oh, well, there's no sellers because they're there. And if you do nothing but use our Five Motivated Sellers Now system and consistently mail, you will prove that to yourself. If you sit around and talk about poor, pitiful me, they're not there, you'll prove that as well. Either way, you get a choice. So let's get it. Absolutely. Well, let's get into the first part, which is obviously your and my specialty.

My part of my business is all about the marketing. As you mentioned, my business partner does a lot more of the deal analyzation, making sure that the deal is profitable. But really where I focus, and I know you do as well, Ken, is really on the marketing and driving that revenue into our business and allowing our lead manager, our acquisition manager, and Eddie to figure out how to utilize that revenue, meaning the deal. What do we do? Do we take it down and flip it? Do we wholesale it? What the deal, right? What do we do?

Do we take it down and flip it? Do we wholesale it? What's the profit margin? You know, what is that decision? So let's just jump right into marketing because I know you and I, you know, you mentioned this already. We were one of your first, if not your first, kind of coaching students that really took your systems to heart.

We didn't take it for granted. We actually utilized it. We took a ton of action, and that was the direct mail. And find motivated sellers now. And we, to this day, are still banging that system five years later to get the deals that we're talking about right now. Totally. Let's kind of jump into it a little bit and talk about the direct mail if we can.

Yeah. Yeah. The next slide, I think, is actually our true letter. This is our actual letter that we use from your product. Again, your product gives us the ability to pull the list right then and right there. We always go after high equity and free and clear. That is the only thing we want to go after because our marketing budget is really big, so we don't want to shrink our list. Anytime we include vacant and or out-of-state owners, all that does is continue to shrink our list. So we try to keep it as broad as possible and

take more of a shotgun approach. And so every month, we're sending out roughly 12,000 to 15,000 mailers in each city, which is Dallas and Phoenix. And this is truly the mailer we use straight out of your system. And obviously our mail guys sync the address and do a mail merge, and this is what it says. And so this is exactly what we're using to find the sellers. So let me just – here's the thing. Obviously, I'm pretty biased because at the end of the day, I do not believe in wasting any time. I believe in just doing what I know is successful,

doing what I know makes sense, and ignoring all of the noise. So here's what I'm going to tell you. The Find Motivated Sellers Now module inside of the smart system is extremely powerful and will make your phones ring and bring deals to the forefront. You can use it or not use it. Your choice, obviously. If you want something that you know works, you want something that's going to get consistent results, use it. It doesn't work if you buy it and stick it on a shelf and never log in.

Obviously, that should go without saying. That's never going to work. But if you want to create deals and you want to create crisis situations, or not create, you want it to be in a place to where you're marketing to people that are potentially in crisis situations, that requires thought, that requires systems, that requires being able to do some data mining, and these systems do all of that for you. Then, as Justin said, you kind of have a couple mouse clicks,

and the next thing you know, these mailers are going out, and you're not really having to worry about it too much. These are proven, so I would suggest using them. Now, with all that being said if you choose something else choose that's fine but you have to do something if you believe you're going to sit back and just collect leads and not market then here's what I want you to write down show me a business that's not investing in marketing and I will show you a business that's dying. It is not a matter

of if you're going to go out of business. It's just simply a matter of when. You may be able to hang on for a year, a few months, maybe two or three years, but you will go out of business if you do not market to create inbound opportunities for your real estate business. It is that simple. So just telling you like it is, I would tell you that the, as Justin just alluded to, the thing that works the best, that we found has worked the best, and you guys have as well, is direct mail. For one reason or another, it continues to be, or it's kind of made a resurgence, quite frankly, in the frankly the last couple years but it is a a very intimate way to get into somebody's house where they're getting a piece of

mail for you from you and it's been is done correctly they feel like you're speaking directly to them and they do respond here's the thing about right now the response rate that you should expect is somewhere in the neighborhood between one and three percent and you know there's are there certain cases where it can get as high as 5%, 7%, 10%? Of course, but I'm not going to talk to you about those exceptions. Let's talk about the rule.

1% to 3% is what you should expect. So if they mail 10,000 pieces over there, they should expect roughly between 100 and 300 calls. That's it. And if they get that in the direct mail space, 1% response rates is considered off the charts astronomical. You're killing it. So 3% is three times as good as that. So just keep that in mind, right? So it's not all of a sudden you're going to mail a thousand pieces and you're going to get a thousand phone calls. That's not going to happen. You're going to mail a thousand pieces. You're going to get between 10 and 30 phone calls from people that are really anxious to talk to you and what to do business with

you the last thing i'll tell you about right now that is really important it is a product of repetition read any statistic online to read any white paper uh... any marketer advertising blog and when it comes to the right now

and also the same thing right now does not work if you do not continue to mail so continue to mail continue to do you know probably between five and six times in order to get any kind of uh... real kind of response to keep to go just yet i agree and And I think you mentioned

it, no matter what service you use, you need to do it. And I think that's the biggest thing is kind of the head of student development here at Real Estate Worldwide. I mean, one of the things that Eddie and I both preach over and over and over again is take massive action and just go do it because that's the way to be successful. We never guarantee anything, but as long as you're taking action, moving forward, and doing what we're advising, no matter what system, no matter what way you pull your list, no matter whether you're having someone send it for you and or you're hand delivering it, going out in marketing will get you the deals.

It's just a matter of time. So having tenacity, having fortitude, those are some of the key components to marketing in general, let alone direct mail is sticking with it and having the tenacity no matter how long it takes. A lot of people know my story. You know our story very well. It took us nine months to get that first deal. And the reason we got that first deal was purely out of tenacity. We didn't know which way was up. We didn't know what we were doing. We just bulldogged our way forward until we got our first deal,

in which turn, you know, came into contact with you and you were able to help mold some of these systems that we have today and help us. But I really want to hit home that, you home that it may not happen exactly when you want. You might only be able to send out 100 mailers a week or 100 mailers a month for that matter. And it might be a little bit slower than you want. But if you stay consistent at it and have fortitude, you absolutely will get a deal from it. There is no doubt about it. It's just staying consistent and keep pushing forward. So that being said, I want to take one step back and kind of hit on the

next marketing. And I know you're big into this and I know there's an entire section of this real estate investing world that really isn't touching on this. And Eddie and I have really put a stance forward to really make this a big part of our business moving forward, which would be the pay-per-click campaigns. We all know of what we would kind of term the old school way of marketing, right? The billboards, the radio ads, TV, newspapers, they're still around, the bandit signs. I'm not suggesting that those aren't still valuable ways of marketing, but truly in our our business these are the two that have been making them biggest impact

and i know intense business they make the biggest impact and so i really wanted to limit what were basically teaching you guys to these two major ways of marketing cuz i truly believe you know direct mail has always been the number one way we've been marketing and now we are putting a big push into pay-per-click advertising through Google and Facebook and others to drive and find those motivated sellers because, as Kent knows, and Kent will speak more about this,

but Facebook is all about people's interests, right? What they like, what books you know, books they like, movies they like, what the, you know, Wall Street Journal. You can find people based around interest and Google is more about intent, what they are looking up, what terms they're putting in and people's intentions. And so what I really like about the pay-per-click campaigns within real estate is you are basically only marketing to people that have interest in what you are doing and for what you are doing. So for example, if someone Googles, you know, how to sell my house fast because they're in a state of crisis, as Kent, you're mentioning, you will come up because

they're specifically looking for that, right? And your ad and or if your website is SEOed will come up to find these people. And so pay-per-click campaigns are a strong push to not necessarily kind of cross your fingers and, you know, throw everything against the wall, which some of the old school campaigns do, but really be very targeted and direct with your marketing. And so I want to, you know, kind of open it up for you and I, Ken, to kind of have a conversation campaigns do, but really be very targeted and direct with your marketing. So I want to, you know, kind of open it up for you and I, Ken, to kind of have a conversation because I know you're a huge advocate of pay-per-click and Eddie and I are now getting on this bus and really making a major push to open up Dallas and open up Arizona, you know, as, you know, it may not be the biggest volume of leads, however, they're very qualified leads,

which is a huge difference in today's market. So I want to just show everybody what one of our – this is a simple Facebook ad, but how much is your Phoenix home worth? Quickly get an estimate of what your home is worth today. Now, people who are interested in selling want to know what? How much their home is worth, right? How much can I get from my home? I just lost my job. I just got a divorce. I have no idea what I'm doing. I don't want to pay commissions. I don't have money to rehab my home. Whatever the scenario is, something like this on a Facebook ad gets a ton of clicks.

And so, Ken, I want to open it up to you based around this ad and your thoughts about you know people clicking on Facebook so what I would tell you guys to do as it relates to any kind of PPC right so I want to give you guys something tactical that you can use here that you can actually go and try we will do an entire section or an entire one of these sessions, if you will, just on advertising on PPC. That way, you guys come back here in a couple weeks, and we will do an entire thing on here. Here's what I will – it's just a much bigger topic than I would rather give somebody a couple seconds on. But here's what I'll tell you, that if you're going to do it, I would definitely start off with Facebook versus Google. And then once you figure out kind of what's working on Facebook, then you kind of take that information to Google,

meaning that, hey, these are the ads that people are clicking on. These are the terms that I'm focused on. These are the audiences uh... terms that i'm i'm focused on these audiences of books and for us facebook is that at ten x uh... on what we get out of the room facebook is a much more intuitive for the layman the person who started off as never places single at all on it

uh... you can you can actually go to the paper advertising watch a couple tutorials and have a pretty reasonable idea of what to do and how to do it and spend $5. So even if you run an ad and you go and spend $5, it's not going to make or break you. To kind of get your feet wet and figure out what's working and what's not working. So Facebook is definitely where I would tell people to start looking around. The ads are only as good, though, as the pages that they drive traffic to. So always remember that, right? So when you're driving traffic online or driving anybody to a website online or offline,

you're only going to be able to take advantage of the opportunity as well as the site you're driving them to. If you have really good ads but you're driving to a crappy website that doesn't do a good job of capturing leads, it doesn't matter. It's like it never happened and you're just wasting money. So again, we'll do a bigger section on this, Justin. Let's just make a note that you and I kind of go through and we could easily do 90 minutes just on this one topic.

Absolutely. I couldn't agree more. So let's kind of keep moving as we want to be able to kind of dig into business a little bit. The next component that is a huge value, Kent, I know I spend a lot of time in your office and I see your whiteboard and you've been in my office and this is exactly what my whiteboard looks like right this moment, right? These are absolutely the deals that we're working on in Arizona on the left and Dallas on the right. Again, our model is to do a very minimum of three to five a month in each city. Dallas is averaging roughly about $6,000. Arizona's averaging roughly about $18,000. thousand dollars but um you know to take a step back the two ways that we really manage our leads is the whiteboard which is a lot more the way we utilize it at least is a lot more of the

what's in the pipeline right now so well let's let's go backwards i want to do something here yeah i know i'm catching you off guard but i want everybody to kind of do this with us right so if you want to do three deals a month, Justin, and again, I'm kind of catching you out of left field, but I want to kind of give them some real-world experience here. So if you're doing three deals a month, $6,000 a pop-in dialysis, $18,000 a month. Now, everybody that's on the line here over in the comments, whether you're doing this part-time or you're doing this as a

full-time job, could you use an extra $18,000 a month? If you could, go over there and give me a hell yeah over in the comments. Making sure everybody's paying attention. Here's what I want you to do. For you to do three deals a month, Justin, if you had to guess, how many offers do you guys have to make to get to it? So basically, one out of every 10. So you've got to make 30 offers, right?

Right. Okay. So to get to the point where you can make 30 offers, how many leads do you have to get inbound? We're looking at it as roughly we need roughly 100 leads a month to come in. So we can make three offers so we can get three deals. All right, so everybody understands what we're doing. I want you to write this down. We are starting with the end in mind. I see so many people that do this all the time, we're doing what you write this down we are starting with the end in mind i see

so many people to do this all the time where they go off and they have no freaking idea what they're with the success looks like and they have no idea what it actually looks like to you know when you get there so what happens is uh... they don't get there and there is no idea right so if you want to make twenty grand a month and the average deal is six thousand dollars you need to do three deals make eighteen thousand dollars that simple so you want to make $20,000 a month and the average deal is $6,000, you need to do three deals to make $18,000. It's that simple.

So if you want to make three deals, you've got to make 30 offers. If you want to make 30 offers, you've got to have 100 properties come into your organization every month. So basically, you can make 30 offers. Again, just doing math here, out of the 100 leads that come in the office, they're able to actually get three done. Last time I checked, that's 3%. Last time I checked, that's a 97% failure rate. Get ready because that's reality. That's what the real world is. Some of you get out there and you make 10 offers.

Oh, my God, nothing's getting accepted. Burn the house down. This isn't working. Everything you guys told me is crap. No, you just have to go into it realistically. In any other industry, you're considered a failure. But in our industry, if you can have a 3% to 5% success rate, you're crushing it. but in our industry if you can have a three to five percent success rate you're crushing it you're doing great so it's just an it's just numbers just move with intention and go in there understanding what

you're trying to do start with the end in mind you want to get three done so you want to make 18 grand you want to get three done you're gonna have to make 30 offers which means you're gonna have to see a hundred deals in order to deals, which means, wait, just go back to the thing I just told you a second ago, right? If you've got a 1% response to your direct mail, it means you need to mail 10,000 mail pieces to get 100 offers or 100 good leads. If it's 3%, then you've got to mail 3,000 mail pieces in a month to generate 100 inbound leads that would allow you to make 30 offers to close three deals. That's the real game. So you decide.

The average wholesale deal is going to make between $5,000 and $10,000. Just use $5,000. If you want to make $10,000 next month, you've got to do two deals. Let's do the math. Two deals. Justin said it a second ago. One out of ten means you've got to make 20 offers, which means you're probably going to have to get somewhere in the neighborhood of about 80 to 90 inbounds,

which means you're going to have to mail somewhere between 2,000 and 3,000 mail pieces. Anything less than that, you're not going to make the money, which means you're going to spend roughly $2,000 to $3,000 in marketing to generate $10,000 in income. That's all dead on, right, Justin, from your perspective? Absolutely. And that's why we kind of targeted that 12,000 mailers a month is because we're right there, right? Justin, from your perspective? Absolutely. And that's why we kind of targeted that 12,000 mailers a month is because we're right there, right? So there are absolute outlier months where we absolutely crush it and we're getting five out of 10 deals. We get an offer accepted and we do deals. And then there's months

where it slows down a little bit. So 100% to run your business by the numbers is one of my major key teaching points right now, because if you don't know your numbers, if you don't know how many leads you need, if you don't know how much money you need to spend, if you don't know your conversion rate, you're really dropping the ball, especially if you're trying to get your business going, and even more especially if you're trying to scale your business, right? So we're at a time in our business that we're able to scale now and we're jumping into different markets and that's great. But if we could have learned what we know now, if we learned that three years ago, I can't even fathom where we'd be, right? Because if now we know exactly how many leads we need to bring in the door,

we know how many deals we're going to get per lead and we know how much money we're going to make. So it's all about converting those leads. So the way that you can, let's say you don't have the marketing budget we do, which a lot of people don't, that's okay. You need to start somewhere and then you need to focus on converting the leads. You aren't able to let a ball drop. You have to be very attentive to every lead that comes in, primarily because you don't have the ability to spend a ton of money. So you've got to focus on...

Let's say it a different way because I want to make sure everybody's getting it. Because I understand what you're saying. I just want to make sure everybody's getting it. So to your point, if you only have $1,000 to spend and not $2,000, $3,000 like we just talked about, right? You've got $1,000 to spend every month. And if you don't have $1,000 to spend on marketing, you need to go find it. There are plenty of ways to do deals in a manual way, getting started, but you've got to have money to invest in marketing. Go back to what I was just saying a minute ago, right? Whether that's bringing on a partner short term, whatever,

you have to have money to generate the deals. And anybody that tells you that you can actually build a business with no money is crazy. Can you do deals with no money? Absolutely. And, again, go back to what I was telling you earlier, making a living. There are ways to go riding up and down the streets, banging on doors, doing all that kind of stuff and go make a quick $5,000 or $10,000 in a month. You can do that.

And it not really cost you anything except time time which is the one thing you don't have if you got a thousand dollars to spend not three thousand to justice point instead of only converting three percent of the amounts to generate a hundred leads in the early career in the past was in your career converted three percent three out of a hundred leads inbound and you only, you know, in the past I was telling you, you converted 3%, 3 out of 100. Justin's saying you've got to really, really focus on creating a bigger percentage. Because if you're going to spend a third of the less money, you're going to get a third of the, you know, a third fewer inbound leads. If you only spend $1,000,

you're probably going to get 30, right? Not 100 now. But if you still want to get those three, well now your conversion percentage has got to go from three percent to ten percent so you got to get better at putting the deal together and again you're still failing at even at that ninety percent of the time and you're raging success you're able to convert ten percent of your leads into deals get ready you will be a millionaire before you know it. So these are all good points, but you can't do any of this if you don't measure and don't understand fully what you're trying to do. What you need to do, I came to somebody on the whiteboard,

and this is what we do in my office. My entire office is whiteboards. Some of you have seen it, some of you haven't, but the entire office, literally our walls are all whiteboards because this is how much we do this kind of stuff. You start with the end in mind and go backwards. We literally start, people think we're crazy, we start on the right side of the wall. Like you're basically thinking about a movie. We write over here, the end.

And then we start writing steps moving to the left until we get to the other side of the wall. The left side of the wall is the beginning. So we understand perfectly what it is we're trying to accomplish, and then we back into the steps it's going to take. That's what you need to do. If you just want to do one deal and make $10,000, okay. We just broke down the steps for you. That means you're going to have to make a minimum of 10 offers, probably closer to 20.

It means you're going to have to generate somewhere in the neighborhood of 80 to 100 inbounds, which means you're going to have to spend somewhere in the neighborhood of 1,000 to 2,000, whatever. Now you know. Let's move on, dude. I think we beat that enough. Here's going to be my favorite part, Kent. Again, the whiteboard, as you guys see it, this is how we structure it for deal flow. Kent's entire office is a whiteboard, which is very, very cool. Understand you can do it how you want. We tend to use a whiteboard. But let's jump into this.

This is the stuff that really excites me, and I know it really excites our boy, Eddie, because he is much more the organizational, systemized person than I am. I definitely fly by the seat of my pants, spider on caffeine, go, go, go, drive a bunch of revenue, and put it right on Eddie's desk and walk away. That's me. So, you know, there's no success without Eddie, and, you know, there's no driving revenue without me, so we make a great partnership.

But that being said, this component here, which is called Podio, is our CRM, and this really helps Eddie and even myself become a lot more organized with deal flow. And I think, Kent, the best thing to do rather than to look at a stagnant picture is you want to just jump into my Podio account and start. Let's jump into Podio. So, guys, as he's jumping in, let me explain what's going on here. So Podio is a system that we all collectively use to run our businesses, all of our different businesses, right,

whether it's my internal education business and all of our follow-up sequences and everything we're doing to follow up with our clients. We have literally 25,000 clients around the world at this point this is the way we follow up with them our customer supports run this way all of our coaching is run this way all of our real estate is run this way all through believe it or not a free or near free website called podium and you can go in a podium account right now to cost you nothing and what is really cool I'm not here to do a commercial on Podio, but I'll tell you kind of what the big things are here.

So you have to have a lead management and what is called customer relationship management system in place. Now, in a lot of offices in the old days, what this was, was this was a team of assistants and account executives and big file cabinets just filled with, you know, an entire customer could fill an entire file cabinet, all correspondence, all the little pinch slips of call this time, talk to this person, you know, people, you know, a secretary in there taking stenography, taking notes on every meeting, all of that stuff, right, that was done manually 60, 50, 40, 30, 20, 10 years ago has, you know, over the last probably 25, 30 years has been started moving more online, right?

And IBM invested a lot in this kind of stuff. Oracle invested a lot in this kind of stuff. Some of the most valuable companies in the world are all based off this idea of being able to house all of your customers' data and interact with your customers in a methodical way. So what Podio has done, and I guess probably launched a couple years ago, is they've taken the best of these massive systems, massive, massive systems. And as more stuff has moved to the cloud, more stuff has moved online, a lot of these cool companies like Podio have started to come to the forefront.

What they've done is said, hey, we've got this really cool way that you can do this same thing with your clients, but you don't need a programmer. You don't need to invest in a bunch of servers. You don't need to invest in a bunch of infrastructure. You don't need to invest in a bunch of infrastructure. You don't need to invest in anything. We got it all. We got all these cool little apps that you can just kind of plug and play, drag and drop, and create this interface that's really easy for you to run your office,

and you don't need any technology experience whatsoever. And so because of that, it has kind of taken the world by storm, certainly the real estate investing industry by storm. And it's made a lot of systems become obsolete very, very quickly. A lot of people out there are using FreedomSoft and RealFlow and things like this. And although they're all still good, suddenly you're faced with something that's much more intuitive, much easier to use. The average person can do it, and it doesn't require any investment. And so this is a really cool tool that effectively, if you look across the top,

those gray, right below the blue bar, those gray little areas there, think of those as apps on your smartphone. A lot of us have either Android or Apple phone, and we all are familiar with what apps are. Well, those are all apps. And what's cool about Podio is those apps are available. And so you can, for free, go grab these little apps and kind of plug them into your system. And suddenly your system, just as I said, becomes very intuitive and works very creatively in managing your business. So Justin, let's kind of just go through it and let's show them a little bit here. Again, I'm not doing a commercial for Podio, but

I want to show them here's a really cool way to just manage your business, right? Yeah. This is, again, being the spider on a can of fiend in our business, this really helps me, my personality, to really be able to focus on what's going on, what leads are coming in, what's happening with those leads, so on and so forth. So let's just kind of dig in. Up here, like Kent was mentioning, these are the apps that we utilize. And right now we're on activity. And what activity is, if you're paying attention, is kind of like a Facebook feed.

So you're seeing all these leads. You're seeing the comments, the likes. If you hit this, this will like that comment. So I can like that comment right now. Now Eddie sees that I liked the comment. So this is like a Facebook feed. So you can treat it as such. I can add a comment

to this feed right here. It's talking about different things, different projects, different things that are going on in the business right now. As people are interacting with each other, as leads are coming in, as people are doing inspections, as offers are being made, this is just kind of a rolling feed that kind of keeps all that place in one little dashboard for the user to kind of, as a manager, you're kind of keeping rolling feed that kind of keeps all that place in one little dashboard for the user. As a manager, you're kind of keeping your eye on your business from 10,000 feet, right? Yeah, that's exactly right. And so this sounds like it's going to be confusing, but it's so user-friendly.

That's the key here. It's very user-friendly because all of these apps that we see in the top right or the top of the page all are connected within each other it makes it such and user friendly and that's really what helps me and not much of a tech guy so you can see the feed that goes down in these are all the leads this lead the top leader i think you're actually came in about an hour ago so if you click on that lead you are able to actually see uh...

the lead right and you're able to see you know, the phone number that came in, the voicemail. Scroll up. I want to see that there, Justin. So here's a lead that RingCentral, your answering service, is taking, right? And they're loading it in there. And you can actually get even more in-depth with this. I know in ours, we actually have the RingCentral fills out the actual entire lead for us and just puts it into a Podio form for us. But instead what you guys have chosen to do is scroll down.

What you're doing is there's all the information but what I think is really cool, keep going, is there is the actual recording, right? Right. So there's a number of different ways to do this. One of the things that we have in our system is basically where the person at PatLive that does this for us, we just gave them a Podio form. So when they key it in in a Podio form, it just goes right into the system. What you guys are doing is, make sure I got this straight,

is you guys are listening to it and then kind of filling out this information, correct? Right. And then we'll come up here and obviously add and remove our contact information and put in Johnny Seller's information, phone number, so on and so forth. If you left an address, we can just come right into here and create a new address just by saying create new item here and we can create a new property address file which again everything is connected so it makes it very very easy to use so let's go see like a like go back to that main main screen there like your um scroll down let's look at one of the like a main property there's one right there yeah right there let's just look yeah right here the clayborne so this is one. And just for reference, everybody, we

opened up Dallas Market two weeks ago and we already have two deals that we have contracted and resold to our buyers. Claiborne happens to be one of them. And so you can see actually this is the property runner checklist. So this would go under inspections as you see here. So we can actually upload our files, like our pictures, which help Eddie and I never stepping foot in the Dallas market as far as, you know, we've been to Dallas, but this helps us see what the home looks like, right? We have our guy at Booth on the street. This helps us be able to see what type of condition the home is in. Yep. And so, you know, again, these are all the pictures that we're taking.

This happens to be upside down. I'm not exactly sure how you get a refrigerator on the ceiling, but I'm going to... Yeah, it's the neat way that Dallas works. Yeah, you know, it's a unique selling feature, but it's good. So this is very helpful, you know helpful. There's a lot of ways that you can include documentation. So when we get the purchase contract, we actually can upload it

into the deal board. So click on the actual property there, right next to the guy's picture. So right now we're in inspection. Remember I told you that we were in inspection. So go to the actual property. Because it's actually so user friendlyfriendly, everything is right here. So if we just want to go to the property information, we can go over to the property information.

Okay, so put that map in there. Yep. Okay. And you can see it's a three-bedroom, two-bath, two-car garage, no pool, 1,600 square feet, built in 1978. Keep going down. Keep going down. Keep going down. Okay.

And so here, again, here are the related items. Like I said, everything's connected. So this is the inspection that we were just looking at. This is the deal board, which I just referenced. In the deal board is where we put all the pertinent information about close of escrow. We put in the purchase contract. Let's look at it. And so forth. So just for sake of showing, I want to click on the deal board and I want to show you that here is the actual A to B purchase contract that we uploaded into the deal board. Obviously, you'll see we put our inspection dates here.

Our close of escrow dates are here. Our earnest money amount, you know, if there's a lockbox, a lockbox code. I mean, we really have been able to build this Podio, and we have built it from scratch. As you said, it's a blank canvas. We've built it so that all of the pertinent information and the scripts that we would use is actually already embedded into this Podio account.

So we could be looking at this on the phone and filling out all this information right then and right there. So let's go back. So you're buying it for $89,000, right? Is that correct? Yes. Let me go back real quick. So let's go to the property.

Oh, I'm sorry. You wanted to go back to the deal. Yeah. Here's the deal board. Yep. Yep. See how quick and easy this is? So yes, we are buying it for $89,000. I'm actually going to upload exactly right now live time. We have got it sold at $97,000. And so only numbers, no periods. This is why no dollar sign. That's right. This is exactly why

Eddie does this. I don't even know how to type a number in here. Okay, go backwards. That's our spread right there, $8,000. So go back. I want to look at something in one screen. What part? You want to go to the property?

No, I want you to go back one screen because I want to see the lead. Scroll to the bottom. Scroll to the bottom. There was three main components. There was the inspection, the deal, and basically the seller's information. Click on that. This is in the lead app. All this stuff is interrelated. That's her number. These are any notes that were typed in. On the right-hand side, we always's her number. These are any notes that were typed in. On the right-hand side, we always carry our notes.

We want to know what type of lead source, so we do a lot of direct mail, as I said. So direct mail, this is the last four digits of the phone number, in case we use different phone numbers in that market. So we know what phone number is actually working. And, again, everything becomes interconnected. So, again, you can go back to the property. You have your voicemail here. You have your inspection right here. So again, everything is so user-friendly, Kent. We really built and spent a lot of money building this out, as you know. So this really fits anyone's real estate investing business.

Yeah, and I like over on the right-hand side how you got all the notes of the guys that are negotiating the deal over here. You can kind of see what's going on. The guy that's trying to sell it, what we need to buy it for. That's good, man. This is really good. All right, so let's go back to the main screen. All right.

So let's scroll scroll to the top mm-hmm so I just want to do an advertising for a podium but if you go across the top basically you have leads that turn into properties right yeah absolutely properties turn that need to have inspections correct after inspections they turn into deals I'm just kind of going across right yeah once they go into deals they turn into deals. I'm just kind of going across, right? Yep. Once they go into deals, they turn into underwriting. Right. So just because it's not quite linear, the underwriting happens as we're putting it into the deal board. Right.

I understand. So basically you're doing your due diligence. Right. And then that's when you create the offer sheet to a buyer. Correct. And then this right now, we are creating something bigger and better to this. So right now we're not utilizing this. I'm just trying to make sure I understand kind of the linear path that you're doing there.

Yep. And then this is where we create our buyers, right? So if we're finding buyers independently from any type of marketing we do, this is where we put the buyers in. So just to show you guys, you put your buyers in here. You cannot email out of Podio, but you can just add your buyers. And then obviously when you have a bunch of buyers, you can download the CSV file and then upload it into whatever type of email

marketing campaign you do to wholesale your deals. So this is where we hold our buyers. Yeah, and I ask you guys to make that private so that nobody can see that because that's not anybody's business who you're selling properties to. So go back to the main screen. Okay, so you've got your deal calendars over here on the right-hand side. Let's go. Now, the top left-hand corner there, right next to it says Dallas Deals.

Keep going up, up, up, up, up, up, up, up, up a new workspace. So one thing, guys, that is really cool in Podio is these are all different kind of workspaces, right? You can see, so click on Arizona Deals. All right, so now here's all the deals that are going on in Arizona. So what you were just looking at is Dallas. Now we're looking at Arizona, right? So it's an easy way to keep your business clean. And all of these apps just easily, like I said, you drag it and you drop it.

It's super, super easy to do. Believe me, if I can figure it out, anybody can figure it out. And suddenly you've got the same functionality over a completely different workspace. In fact, you can copy an entire workspace over. You can say, hey, all the systems I use in Dallas, let's create a new workspace and call it Tucson. Suddenly, all those apps are copied over there. They all will work the same way. This is a really cool, very intuitive way to do this. Again, the point of this call call today because we're about to wrap it the point

of this call today is we just wanted to show you behind the scenes a little bit and give you some some very tactical things that you can start using in your business right now so here I want to make a list of what I tell you that you should be doing right and the big takeaways from this call. One, I definitely think you need to start with the end in mind. I think you need to figure out exactly how much money you want to make. I think you need to figure out exactly how many deals that is going to require and how many buyers that's going to require. Here's another little great piece of information for you.

You need to focus your attention on cash buyers. The average cash buyer buys two and a half deals a year. So if you want to do two deals a month, you want to do 24 deals a year, you want to make $10,000 per deal, that's $240,000. So if you want to do 24 deals a year and the average cash buyer buys two and a half deals, roughly you're going to have to go find 10 cash buyers. 10 cash buyers is all that you will need to find to wholesale those deals to. And then you can now, again, start with the end of the month.

How are you going to generate those 10 cash buyers? Now how are you going to generate the 24 deals? How many leads do you have to generate? How many prospects do you have to generate? How much mailing do you have to generate? How much money do you have to spend? What's working? What's not working?

All of that stuff is what will make you successful here. Now, the big reason why we showed you Podio is because I don't care what system you use. I don't care if you use FreedomSoft. I don't care if you use RealFlow. I don't care if you use Podio. The point is you have to use a system. If you're doing it on Yellowpad, then, again, you are, in my opinion, my humble opinion, you are basically telling the world, the universe, that my business is not important enough to me

for me to actually create systems that I can own a business. And there's a real simple way to make that shift. So I'm going to give you this real quick, and then we're going to talk about a couple things that are on the screen. At the end of the day, time is the only thing you've got. So your job should be how can you create as much time as you possibly can, right? We all get 24 hours a day, seven days a week, each and every week. But it's amazing that some of us get so much more done than the others. How is that? Some of us just work our asses off and go work 40, 60, 80 hours a week, and at the end of the day are basically making $20 an hour at best. So how is it that people own businesses versus owning a job?

How is it that people escape the rat race and suddenly are making great strides in their life? How does that happen? Well, they value time differently. They realize systems and scale and leverage are what the world is really about when you want to own a business. So how can you leverage a system like this to create more time? That needs to be the big question. Your job needs to be to fire yourself as often as you possibly can. In other words, it needs to be a game. You need to get the hell out of the way. What can you possibly do to get more out of the day? I'll give you a classic example of this.

I do two deals a month right now. I'm all good, man. Kent, man, what are you talking about? You didn't tell me nothing. I don't know. I'm all good. I make $10,000 a deal. I make $20,000 a month, and I don't spend any money on marketing. Oh, yeah? How do you get your deals? Well, I go to the MLS, or I drive up and down the streets. Every morning I've got the same routine. I drive the neighborhoods that I farm, and I put out band of signs, and I bang on doors,

and I spend three hours every morning doing that. Oh, really? Three hours every morning. Yeah, so you spend 21 hours a week doing this. Yes. How many hours a month? Oh, so that's 84 hours a month. 84 hours a month just generating the deal. 84 hours a month just doing something to generate the opportunity. By the way, this is very real this is stuff I hear so 84 hours a month now you could have spent three thousand dollars or two thousand dollars mainly and generate those deals but you decided to spend eighty-four hours now how much do you make now how much do you think your time's worth on

this this is the classic question I'm a my times invaluable you know you make now how much do you think your time's worth on this this is the classic question of the amateurs invaluable i'm worth at least a hundred dollars an hour over what eighty four hundred dollars which it only just that eighty four hundred dollars to do with two thousand dollars to do will try again

all well um... it's fifty dollars now okay so now you're worth less you still spent forty4,200 in time to do what you could have gotten done for $2,000 in no time. So we can keep playing this game all day long. The point of the matter is that if you want to actually create more time in your life and go hang out with your kids, go on vacation, do things, then you've got to stop doing the things that are holding you back. Use leverage.

Invest in your marketing. Invest in systems. Invest in people. Invest in leverage that helps you to get the more out of life. And those types of things, fire yourself as often as you can. Get the hell out of the way. Do those things. Little by little, you'll start to progress to where suddenly you're doing,

guys, I mean, I don't mind telling you, right now. We did 600 deals last year in Memphis and Dallas and Houston. I didn't do one of them, but I got paid on every one of them. That's a business. I literally could not drive you to a single property that we bought and sold last year in Memphis, Dallas, and Houston. Not one. I could not drive you to any of them. I have no idea.

But I got paid on every single one of them that's the business systems that's what leverage that's what's people processes do for you so that's what you want this is the kind of first steps podium isn't the end all be all but it's certainly a really good step in the right direction uh... working with us is really a step in the right direction listen to what we're talking on these trainings is really step in the right direction listen to what we're talking on these trainings is really a step in the right direction think about it for a second

you spend an hour with us here what are you doing you're leveraging us you're investing an hour to get a lifetime's worth of experience in 60 minutes that's leverage you're doing the very thing right now and talking to you about the question is you're gonna go use it so that's kind of that's really our mission here is to make you know kind of wake people up. That's what Real Estate Worldwide is all about. It's our motto here, right? We're here to wake people up, get them out of their own way,

show them a clear path to success, and get them on their way. So some things to think about as you're kind of going through this process and kind of building this, Justin, I know you had a couple things here. Let's kind of talk about these for a few minutes. You don't want to waste any opportunity here, right? Yeah, and I think you really set me up nicely to the things that I think are really applicable in your business. As you mentioned, you did 600 deals last year between the three markets and you did not one single thing and you got paid on all of them. The way

Eddie and I have built our business, obviously modeling it after yourself, is we've structured our business so that, quite frankly, I'm in the same boat Kent is. I couldn't tell you the first thing about the two deals that we're doing in Dallas right now or the six deals on our deal board. I couldn't tell you what they look like, what street they're on, and where to get there, any of it, right? Because I've been able to model our business as building a true business and not just having a high-paying

job. Some things that I want everyone to think about when becoming an investor, scaling your business, building your business is who's doing the follow-up with these leads that are in Podio? When your phone rings and your lead gets thrown into Podio, who's actually calling that seller? If it's you to start with, that's okay. I'm a firm believer in you need to be able to do every segment of your business, but then replace yourself and fire yourself as quickly and as often as possible. So who's doing the follow-up with these leads? Once the lead does come in there, who's going to be managing your podium or your whiteboard

or any other CRM so that you have some good notes, so that you know what's going to be managing your podium or your whiteboard or any other CRM so that you have some good notes, so that you know what's going on, so that when the seller tells you to call them back in two weeks because they're going on vacation, that you know exactly how to handle that and that you don't forget and let the ball drop. So who's going to be managing your lead flow, your podium, your CRM, your whiteboard? Because, again, for the most part, if you're just starting, if you're a lone wolf, it will be you. And quite frankly, that's okay. But to Kent's point, figure out a way to remove yourself as much as possible so you can grow your business and develop a business. Who's going to be meeting with the seller? So if you guys want to know how our

business is built here in Phoenix, and it's the same way we built it because it's all in-house in Dallas, we have obviously our marketing goes out. I focus on our marketing. The lead flow comes in, which is handled by Anthony, who deals with the initial call to the seller. Once the deal gets to a certain point that we're looking at contracting, go view it. Danny and our project manager, David, actually go and view the property, take pictures,

give an estimated budget for rehab, and get it into contract, in which case then it's sent over to title to open up escrow. And so that would be the next part here is who's opening up escrow. And then Eddie sends out a pre-formatted template to send it out to all of our buyers. Quite frankly, he usually just makes about two or three phone calls on the whole thing gets sold because we keep our buyers very warm. But you want to be able to have people into this business. And because we built it that way, honestly, out of the deals we've done this year, I couldn't tell you the first thing about any of them.

Besides, I could probably tell you how much money it's made me. But I don't know where they are. I don't know their addresses. I know nothing. And that's why Podio is so great is because if someone asks me, I just jump in a Podio. But we've truly built a business here. So these are the things that in your day-to-day business when you're creating this, you need to be thinking about moving forward because to Ken's point,

you need to fire yourself as often as possible, make it a game, get the hell out of your own way, and build a true business. And these are the things that you need to replace yourself with. And these are just a few of them, right? I mean, this is just, this isn't all of them. But to Justin's point, guys, what you, these are the types of questions that you have to ask yourself. I'm going to give you a couple other things here.

I want you to go get the book, The E-Myth by Michael Gerber. It's called The Entrepreneur Myth and I want you to read it. I know a lot of people buy the books, put them on a shelf, don't ever actually read it. This is a book that changed my life forever. I give 100% credit to it rewiring me and making me think about everything very, very differently. I run into entrepreneurs all the time that are trapped by just what they believe. They're trapped believing that nobody can do it as good as I can. I can't afford to bring people on.

I can't afford. That book will unlock all of that in you. Working with us, quite frankly, is going to unlock all that in you. We're not going to let you think that way. So attend more of these trainings, and I promise you, over time, we're going to make you think differently. There's a number of different ways to leverage people, technology, systems, processes. There's a number of different ways to get people to work for you without ever having to really pay them. Basically, paying them is a part of the deal.

But this is what it takes. I'll leave you with this, and I want you to write this down. You cannot work on your business while you're working in your business. I'm a product of this. I went out for a number of years. I was out doing my rehabs and doing my wholesale deals, and I did everything. And by any measure, I was successful. I did my first 91 deals and made over a million dollars all by myself.

But I owned a job. And you just need to ask yourself what's really important. Do you want to own your time? Or do you just want to be able to say that you own a business but really own a job? Because if you truly own a business, then you can actually on your time as well you can actually you know you may make only twenty percent of the deal verses a hundred percent of the deal but you can also do ten times as many deals see really double your income I'll by by doing it that way hopefully everybody follow the math there I do ten times as many deals but only make 20% of a deal instead of 100%,

I just doubled my income. And now I don't have to be involved at all. That's a real business. Go on the trip. Take your wife. Take your husband. Go on the anniversary trip. Pay for your kids' college.

Take care of your kids. And there's so many people that can hear my voice right now, but I know you're working your asses off. And that's the reason I'm trying to drive this home. This is all about finally owning your own time. Because I will tell you, if you're honest with yourself, that's what success truly is. It is not, oh, my God, I've got to make a million dollars. If you say that to me, I'm going to hang up the phone on you right now.

Because it's just such a crap answer. That is just not real. You don't even know what a million dollars is. Most of us don't even know what a million dollars is. What you're really saying is I just want enough money where I don't have to worry about anything. Rarely is a million dollars that number. Most of us could pay all of our bills every month. Every bill we could pay if we just made an extra $10,000 a month.

Think about it. Worst case, $20,000. Absolute worst case, $30,000. If you made $30,000 a month, could you pay every single bill that you have and have plenty of money left over? Could you do that? And if the answer to that is yes, have all the cars that you want, have the nice house, pay every bill, do everything,

okay, so $30,000 a month is what you need to make. Well, that you want you know have a nice house pay every bill do everything okay so thirty thousand dollars a month is what you need to make a lot of far cry from a million dollars thirty thousand dollars a month at a ten thousand dollar wholesale fee is three deals we just walked you through how to do three deals a month so you're a lot closer than you think to keep that in mind we're going to talk about more of this each and uh... every month

we're starting to regular rotation every couple weeks. We're going to get on here. So make a point when you see me emailing you or you see me posting this on the Facebook page or see Justin posting on his Facebook page, make a point of jumping on here because no charge, completely free, nothing to buy, but a lot of good information. So with that, Justin, any parting words you got for him, brother? Yeah, just a major thing is to take action, keep pushing forward, have tenacity, never give up. There's always going to be hurdles. Being a real estate investor is not the easiest thing in the

world. However, it is very rewarding and it has afforded Kent and myself a lifestyle that we have created, businesses that we love. And so just keep going and keep taking action and never give up because you will for sure reach your success as long as you keep pushing forward. Cool, cool. So guys, we'll see you here in the next few days. I appreciate you guys being on here. I know a lot of you got a lot of questions answered in the Q&A box over there. If you have any follow-up questions for us,

we'll leave the webinar up here for a few more minutes. Just ask the questions, and we'll turn around and respond as quick as we can here. If we don't respond here, we'll certainly respond by e-mail or give you a phone call or something like that. So I appreciate you guys being around here. Take care. God bless. We'll talk to you in a couple weeks.

See you. See you. See you. See you. See you. See you. See you. See you.

See you. See you. See you. See you. See you. See you. See you. See you.

See you. See you. See you. See you. See you. See you. See you. See you.

See you. See you. See you. See you. See you. See you. See you. See you.

See you. See you. See you. See you. See you. See you.