The Science of Flipping - How To Take Advantage Of Today's Real Estate Market feat. Kent Clothier

Episode Date: August 9, 2022

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It's easy to be a hustler in this business. It is not easy to be a business owner. That takes discipline. And you got to actually be very, very intentional. So what people should be doing, if they have not already, is taking a step back and fundamentally understanding how their business needs to pivot right now. Yo, yo, what is up, everybody? Welcome back to the Science of Flipping podcast.

I'm your host, Justin Colby. Now, this is a very special episode that you are going to want to listen all the way through for as long as it takes, because we're all aware of the real estate shift that is happening. We're all aware of interest rates that are happening, recession, you name it. And I have one, one of my best friends, one of my original mentors and continued mentor, Mr. Kent Clothier here is to give some little advice here on what's going on with the market. What's up, brother? What's up, baby? Man, there's a lot up, right? I mean, just for perspective, if people don't know who you are,

I'll do my best to let them know. But you and your family have bought thousands and thousands of homes over the last decade plus. I know you are an investor yourself and you personally run what I would argue is the highest level best mastermind for us real estate investors in our space period. So not only do you have all your own experience, but now you're around 100, 150 of the best investors in the space also. And so you're the guy that I want to hear from about what's going on here, what pivots need to be made, what we need to do as investors and how to take advantage of the opportunities that do get presented. So let's do this. Let's jump into some stuff, because clearly, as you pointed out, I mean, these are, I would argue, you know, for a lot of people, if they are, if they've gotten into the industry in the last 10 years, this is really the first time they've ever experienced anything that doesn't look like, you know, straight up and to the right. Right. Um, and so this is, this is where, this is where all the, it's where you find out exactly who is swimming naked real quick, right? Totally bro. As the water starts moving out, the tide goes out as Warren Buffett said,

you figure out who's swimming naked. You're about to figure out real quick who's swimming naked. And, and honestly, I, I was on a call yesterday with some guys, um, that quite frankly, they, they were just a little too cocky, a little too believe their own BS a little too much. And sure enough, now they're caught and they are in a situation where they've got a ton of inventory that they have got massive debt service on, rehabs that are just finished, and now they're getting ready to have to take massive price reductions on it.

And all of that could have been avoided if you were just, you know, talking to the right people at the right times. And, you know, as you know, we'll get in those rooms. This is not we don't sit around and sing Kumbaya. We get around there and talk about what everybody should be doing and what how to get ready for it. Not only just survive times like this, but actually take advantage of times like this. So I'm excited. Let's talk. Yeah, man. And listen, you know, I've been around 15 years. You have a headstart on me in that space. And we've both seen this. We've both been through it. We've both gotten our hand caught in the cookie jar. And you were the one that kind of came to me and in my partner,

just kind of saying, Hey guys, you got this, you know, it will unwind itself. Everything will be okay. And so I feel for, for the guys that you're talking to, cause I myself was there and actually you at that moment for me, we're the same guy you are for them, which is so cool to hear, obviously. But man, I'll tell you, you know, the interest rates, what has happened because of my experience, I've been the most conservative real estate investor at a high level that I'm aware of. And what I mean by that is I've really limited my fix and flips. I've really limited my risk, right?

And stuck to essentially wholesaling for the most part. I would flip here and there, of course, but I knew it was coming. You and I knew when COVID hit, you and I jumped on a Zoom like immediately. All right, what do we got to do? What's changing? What do we got to do? What's changing? What do we got to teach our students? Because we knew it. We've been there, right?

And that exposure of risk is why your current, the guys you were talking about, I was unwilling to play that game because I knew it. You feel in your bones. You know something's not right economically when the government's printing the money they printed, interest rates are at 2.85. You're like, oh, bro, it's not, you know, if it's just when. And here we are, even as a wholesaler, I'm pivoting real time because of my end buyers are so conservative now. Right. So it doesn't matter if you're a fix and flip or if you're a wholesaler.

All of us are making adjustments real time because the market, right? And so what are some things, obviously yourself, but being around and I'm in boardroom, just so everyone's clear, like that's a mastermind I'm in to be in the right room, the proximity of the players that are really doing it. What are some things that you're hearing

that are being made? Yeah, here's what we know, right? The reality of it is, is that nobody has a crystal ball, but here's what we do know. We do know that this is a, that we are still in a market where we have a shortage of supply, not only on single family, but in multifamily. And anytime you have a shortage in supply, then as the interest rates are driving up, that is intended to do one thing, that is to take some of the demand down and try to create some level of equilibrium to where demand and supply are kind of a little bit in unison. But even with all that going on, the reality of the situation is for the last 10, 11 years, we have built historically three to 400,000 fewer homes each year than we should have been built. So it means we already have a deficit of supply somewhere in the neighborhood

of about four to five million single family houses, you know, depending on where you live. You couple that with supply chain challenges, you couple that with skilled labor challenges, that addressing that shortage is not going to happen overnight, right? And just raising interest rates to bring down current demand is not going to suddenly fix that problem, right? What is that going to do? That's going to take a lot. It's going to compress the market. It's going to take buyers that believe they could afford a million dollar home. Now, all of a sudden, they're going to be at a $600,000 home, right? Now they're going to be at a $400,000. It's going to compress, but there's still a lot of demand in the market. And I'm strictly just talking about retail. There's still a lot of demand out there market. And I'm strictly just talking about retail.

There's still a lot of demand out there in the market. And it's just going to get more normal is what's going to happen, right? So what is not going to happen, this is not 2008. This is not where we had all of this false demand that was sitting out there because we effectively had free money. If you could fog a mirror, you could get a loan. That is not what the situation we're at at all. Equally, what is different about this situation is back in 2008, we did not have any of the institutional buyers. This institutional buyers, the hedge funds and the large institutions that are out there buying, none of that existed. The iBuyers,

none of that existed back in 2008. All of that is a new phenomenon. Now, when you have that kind of demand that is still very, very present in the market and it's only growing, right? You're only seeing more and more of this in the headlines where BlackRock or whoever is buying entire neighborhoods to go and put them into a rental portfolio. Billions, hundreds of billions of dollars still coming in, getting their war chest ready to buy as much as they can. That one phenomenon right there will keep us out of any situation to where you see large pools of distressed assets hitting the market like it happened in 2008. So we're not in that situation. There's just too many different scenarios going on. So, but the situation that we

are in is we are correcting, right? We are getting back to something that feels a little more normal. Prices will get impacted. Buy boxes will get moved down. There is going to be some level of distress that comes into the market that feels a little abnormal as people as companies announce layoffs and people lose a lot of money in the markets whether that's in crypto or that is in stocks or wherever they're you know getting financially pinched that will cause some levels of distress to come into the market but i don't think it's any level you know anything that is, again, even remotely close to what we experienced in the past. You're not going to see this huge wave of foreclosures. I

don't think any of that's going to happen. I think what you will see, again, is just more of a normalizing of what the market really should be. I mean, we all got drunk on 2% and 3% mortgage rates. And I can remember very clearly back not too long ago where I thought 6% and 7% was amazing. And here we are. And suddenly everybody in the world, everybody's losing their shit because we're going to basically level out at 6% and 7%. That's what a more normal market really looks like. And so I think some people have to adjust. I think, again, as I mentioned earlier, some people got seduced with kind of believing that low interest rates, lots of money getting pumped into it, into the market, kind of this free ride, if you will.

I think people got lulled to sleep. There are some people got lulled to sleep and believe that that is normal. That's not normal. This is normal. I think that if you are a smart real estate investor, you've already pivoted. And I'll give you a classic example of this. There's a lot of people that we heard for years, oh, the BRRRR strategy, I'm going to go buy it and rehab it and rent it out. Then I'm going to get it refinanced. I'm like, bro, if you're, if you were doing that and you were basing it off old refinance rates, I got news for you. You're about to get a very, very big wake up call. No doubt. And so I think that some of the strategies that, that were around acquiring

properties with a pretty significant debt load in place, like a BRRRR strategy or even like a fix or flip, those types of organizations are going to experience more heartburn than others. I think if they, kind of like what you were talking about, if they're part of like our group or other groups and they kind of were able to see around corners, they adjusted their buy box six months ago, nine months ago, 12 months ago, or they adjusted their business to be more flexible and taking on less debt and putting themselves more in the wholesale game, putting themselves more in the creative finance game, right? Trying to acquire properties with creative strategies

subject to creative deals, 0% financing, get the property cash flowing, all that kind of stuff. Those people are going to be fine. Nothing's going to really change for them. I think if you didn't do those things, you're going to feel it and you are feeling it right now. If you're strictly a one trick pony and you're in the retail side of the market and suddenly, you know, you were calling all the shots the market and suddenly, you know, you were calling all the shots a year ago and, you know, being a prick about it

and like going out there and, you know, you're getting a listing and saying, hey, give me all your, give me the 20 best offers and they all need to be 45% over asking price, you know, high. And you've got a real wake up call in your hands now because a lot of those buyers are gone and you gotta, you know,

the market's gonna act a lot more normal. And you're going to have to actually do some work and go figure out exactly what the price is that is going to move the property. You're going to have to engage with buyers and understand exactly what the market is willing to pay for any asset that you're putting under contract from a listing standpoint.

And you're going to have to communicate directly with your sellers and be very, very real with them. This is not the same market it was six months or 12 months ago on the retail side. There's no doubt. And now I was made fun of the last two years since COVID, all of my fix and flip friends in Phoenix, specifically Phoenix, right? They made a killing. I mean, an astronomical killing. And they'd call me like, you're an idiot, dude. You keep selling me these homes and you make 20 grand, but I'm making 80 grand and you're an idiot. And I'm like, bro, God bless you.

Make your money. I love it because this day was coming. I just didn't know when. Now, oddly, I haven't heard from them in the last 45, 60 days. They're probably scrambling. They're busy talking to banks about getting their Lambos and their boats and their RVs. Exactly. Right. And it's just, and it's real time happening in Phoenix. For example, my business and many others in Phoenix, we could wholesale a deal. 92% of ARV. Shit you not. 92%, right? And then that flipper would make more money in us. Just not even like

economically, none of it is just foundational, right? It's all pure speculation and timing is everything. But that day runs out. And now literally this week, I had a meeting with my team that we are under 70% ARV offers, right? Like that's a 22% swing, which is massive. And still the buyers are, you know, alligator arming it because they need to make sure it's the right neighborhood, the right square footage, all of those things that a good experienced investor should have been doing from the get-go. So real time, this is really affecting a lot of people that were able to, to your point, you get in the business in the last five years and you're rich, you are rich, you have a lot of money, you have your Lambos and boats, but you don't know the game of real estate investing. This is the long game,

man. And this is going to happen again. And I mean, there's a big difference. Look, here's the difference, right? There's a huge difference between the hustler and the business owner. And you and I have talked about this many, many times, right? We talk about this a lot in boardroom. We talk about it at our Scan and Escape events. There's very few people in this industry, specifically educating the investors.

There's very few people who actually run businesses. This is an industry that is filled with hustlers. And if you, and I mean hustler, you know, if I was going to define it, the hustler is the person who is running from transaction to transaction. They're in all likelihood, a high income earner. They're just kind of, you know, they're, they're moving as the market moves them. Hey, I got this deal. I'm doing this deal. I'm doing that deal. Like, you know, they know, they know how to make money, which God bless them. Cause they're probably never going to be broke because they required a skill,

but they don't own a business. And when you finally turn that corner, right. You kind of get kicked in the teeth a few times and you start to understand that, man, if I want to be doing this long-term, I actually have to operate like a business owner. I have to operate like a CEO. I have to think strategically. I have to try to look around corners. I have to put the systems and the processes and the knowledge in place. I have to run this thing with meetings and workflows. And I really have to operate at a high level. When you make that pivot, well, then what happens naturally is that you get around people that matter because they think the way you think, right?

They're not in it to just run up and down the street and go do a deal just for the sake of doing a deal and make a quick 10, 20, 30, 40, 100 grand. And those people fundamentally understand what is largely, what is going on in the market at a macro level, and then what they are going to be doing about it if not what they're not currently doing about it. The people that you see moaning and

groaning and are not even hearing from or you know that'll get washed out of this whole thing are the people that they they unfortunately just never looked at this and anything what more than a transactional way and they they weren't able to pivot they got themselves overextended they've gone off and they've got five rehabs going on, right? They've secured hard money at 12% on the deals and they're getting chewed up on there. And all of a sudden what they thought they were going to sell this property at $660,000, now they've got the reality they're going to have to sell for $560,000. And they're talking about how to now turn around and hand it back to the bank or hand it back to the hard money or whatever and burn every really, it's because they're highly transactional they're not thinking about it in a strategic way some of that is

because of arrogance some of that's just you know ignorance lack of knowledge lack of understanding uh it's easy to be a hustler in this business it is not easy to be a business owner that takes discipline and you got to actually be very very very intentional. So what people should be doing, if they have not already, is taking a step back and fundamentally understanding how their business needs to pivot right now. You, in this particular space, as we stand, you should be in a cash flow part. I mean, a cash flow mindset. If you are going to acquire an asset, multifamily, single family, the moment you acquired, it should be cashflow. If not, then you probably need to really rethink about what you're going to do. Like if you have to take a heavy debt load and you're going to go do the rehab, et cetera, et cetera. If you're going to do a rehab, then you need to be painting the most conservative picture you can possibly paint. If I thought I was going to be able to sell it at 800, what happens if I have to sell it at 600?

And if it still makes money at 600, then maybe you've got, you should be going and doing that deal. If it doesn't, you have no business doing it because nobody has a crystal ball. That's right. You know, if you are not actively figuring out how to be in the wholesaling game and creating cashflow, you know, consistently in the business, you need to be doing that. You definitely, if you're not actively trying to figure out how to incorporate creative strategies, both on the acquisition side and the sales side, probably no better time in the last 15 years than right now to be selling deals with seller financing in place. I mean, it's the perfect environment. Perfect time.

To be selling deals with seller financing in place. You got all these people that are pissing and moaning, no longer could get bank qualified, yet you could sit there and sell a deal to somebody today with seller financing in place instead of renting it to them, take a big down payment and actually create a 30-year note as opposed to a one-year lease and make infinitely more money on those types of deals. So if you're not pivoting and trying to figure out what the strategy is to put in place, you're already behind. You need to get your ass in the game and get serious real quick. Yeah. It's time to be creative. I mean, I've been on a pretty big mission over the last year or so of just harping on stopping a one trick pony. I love wholesaling. I just mentioned I actively wholesale. It's just one of the strategies I use. And so whether it's wholesaler flip or wholetail or buy and hold

creative subject to financing, I've done two seller notes recently. Like right now you need to look at exactly the, the, the map, what you have laid out to your point, get creative with what exit strategy you're going to use because it'll help you acquire it. And this is the time to be creative. How do you work deals in a creative manner to your point, buying it and selling, or, you know, holding the paper and being the bank. How do you work deals in a creative manner to your point, buying it and selling or, you know, holding the paper and being the bank, how do you work those deals? What needs to happen to make that a good deal where normally it's not right. Go ahead. No, what I was going to say is that typically what people do is they get overwhelmed with, Oh my God, all this is happening. Right.

So I would walk you through a couple of things. If you have challenging properties on your desk right now, go solve each one of these one at a time, right? I've been there, you've been there. If it's one bite a day, it's the only way to do it, right? And you know, just solve the problems. You're going to live to fight another day. Just solve the problems, get it off your plate

because you can't be multiple places at one time. I got to get this problem off my plate. Once it's solved, now I can actually start looking ahead. If you don't have any of that type of stuff and you don't fundamentally understand how to do wholesaling or you don't know how to do creative deal, well, then you need to align yourself with guys like you and I quickly to compress the timeline, right?

You don't have six months to figure this out. You don't have a year to figure this out. You got to get this done quickly. Go get in the right rooms, get aligned with the right people now. Uh, okay. Well, you know, that's going to cost me five, 10, 15, 20, $30,000 to do that. Okay. And like can't afford not to is the actual answer to that. What's the opportunity cost associated with not knowing how to do that. Right in their right mind would not uh you know go and invest whatever it is 10 20 30 thousand dollars with the opportunity to learn how to acquire a skill that can make you millions tens of millions over the course of the next 10 years if you're highly transactional you're caught in

this very present moment about right now, because that's the way you're trained to think like this is transactional. Oh, I can't lay this money out right now because it costs me something when the reality of it is, is you can't afford not to make investments like this because it's an investment in your actual future, turning it into a business. And as you know, and I know, and many others know, when you get around people with quality information, quality wisdom, quality experience, and then there are quality people that will hold you accountable to take massive action right now to right the ship.

You can't really even put a price tag on that type of stuff, right? I mean, those are the decisions that ultimately matter i mean like again you're you and and you know eddie back in the day if you think about the investment in the relationship that ultimately built the friendship with you and i um which has now flourished into you you know, we're the best of friends. But, you know, that one investment and getting in alignment with me and ultimately getting in our world, how that has paid dividends hundreds and hundreds of times over good times and bad. As you mentioned, bad times, oh shit,

having somebody that they'll rally a bunch of people around you and help you fix a problem like what's going on right now. You cannot put a price tag on what it is to be around quality people that have quality information and wisdom. And they're willing to push you outside of something that feels very, very uncomfortable or feels very comfortable. They're willing to push you to do something uncomfortable to keep you moving. So what I'm going to do, because it's a great segue, what I'm going to do to those that are active in the real estate space right now, this moment, doing deals, wholesaling, flipping, whatever, I'm going to have a conversation offline with Kent about inviting you to boardroom.

So Kent, you don't have to say anything. I'll figure it out. But I'm going to invite you to boardroom to be my guest. I'll work that out with Kent, what that looks like. Just send me a DM on Instagram or Facebook. Come to me personally and say, hey, heard your podcast with Ken. I would love to sit in as a guest to a boardroom mastermind. You must be an active investor. I'll negotiate with Ken on what that looks like. So DM me and I'll work it out for you guys if you're serious about it, but you have to be a serious active investor. But let's move on to the next part, which is you have my favorite event coming up. I'm speaking at the event, but more importantly, this is really the most timely real estate event that there could be based around what the current economy is, is going through, right? Is I'm going to argue also

probably the most important real estate event of the year. You hold two. This is the second one of the year. It's in Fort Lauderdale, September 9th to the 11th, the scale and escape event, dude, you're putting on. And bro, talk about great timing. I mean, and talk about to your point, surrounding yourself with the right people at the right time and what results can come from that. I mean, it really is my number one pillar. I teach all my students is your network. You just brought it up. My initial relationship with you, though, at the very beginning, 11 years ago, whatever it was, maybe was slightly transactional, has now built into the closest of friends, but also the amount of things we've done together, the business, et cetera. This event could be that dot for some of

these people that they go to this event because they listen to this podcast or watch this YouTube and say, oh my God, that, you know, shaped me 10 years later. Right. So let's talk about the scale and escape event in September. Well, yeah, I mean, look, as you can tell, hopefully everybody can tell. I mean, there's a topic I'm extremely passionate about right i've been doing i've been in this space i hate it i hate it when they refer to me as the og but i guess um i mean our barber we might be getting close to both being no g you know i mean the reality of this is you know i started flipping houses back in 2003 and I got really good at it.

And then I was one of the first guys that ever really turned wholesaling into a real business. And it's because I had built a very large business in a previous life before coming in. And so most of the guys, like I said, are traditionally hustlers. And I figured out a way to turn into a real business, built a lot of the data products that you now have seen ultimately turn into this entire industry is now data driven. But back when we started putting out data products, nobody was using it. And so through that process of building those systems, building this company and doing all those things, we have learned a lot. And along the way, we've taught a lot of people how to get into the business. But recently, over the last three years, I have seen, well, I guess no, since 2018,

so call it four years, I saw that the thing that I was the most passionate about, and that was also simultaneously largely ignored in the industry, was everybody wants to talk about how to take the guy or girl off the street and teach them to be a real estate investor. Nobody wants to talk about how to take that guy or girl that wants their real estate investor, actually how to turn them into a business owner, how to turn them to a CEO, how to actually create freedom. If you just start off the street and you start flipping houses or wholesaling, 99% of the people, first off, 90% will fail, right? They won't do anything. They just simply won't even crack the book open or watch a video. They'll go buy the course and don't do anything, which is shocking, but true. But then of that, you know, 10% that actually do something, 99% of them will

be trapped in a place to where they are constantly on the hamster wheel, wildly, wildly transactional running from deal to deal, to deal, to deal, to deal. And they are, and nobody ever pulls back the curtain and says, Hey, let me show you how to become the CEO. Let me show you how to put in the systems, how to put in the process, how to put the leverage in place, how to hire the right people, how to train the right people, how to onboard the people, how to look at KPIs and run your business by the math, how to look at a financial statement, how to actually scale, how to add on all the different components to the business that are, you know, offshoots, whether that is opening up, you know, completely vertically integrating by opening up a retail outlet, going up and open up a retail component, I should say, or going up and opening the title company or insurance or a marketing side of your business, all these different things of how you can scale a business

and really turn it into ultimately what we all get in this for, which is freedom. Nobody ever talks about it. Everybody wants to talk about, Hey, let me show you how to get in here and do a deal. But nobody actually wants to talk about how do you actually turn it into a business? And so, as you mentioned, like four years ago, we started doing the scale and escape summit, took a little break through COVID. But the reality of this is, is this entire event is centered on one thing. If you're an experienced real estate professional, agent, broker, investor, I don't care. I know that the vast majority of you are still very, very transactional. And I also know that

the vast majority of you do not know what it takes to actually scale a business, especially in times like these. And you don't know how to actually set the business up where you can effectively escape it. And what does that mean? I mean, there's at least five escapes. You have to be able to make it a business. You've got to get out of being a transaction guy. You've got to get up into where you're ultimately a manager and then ultimately become a CEO, then ultimately become the business owner and then ultimately escape and become the investor sitting on top of multiple, multiple companies. Those are five very distinct things that have to happen.

You know, transitioning from the transaction in the weeds, guy or girl, to ultimately becoming a manager is not easy. Nobody teaches you how to do it. How to become a manager to a real CEO isn't easy. How to go from the CEO ultimately to become the business owner what we talk about is let me show you how to go and turn this into a real business, get you on the path to where ultimately you can scale it and escape the grind. And it may sound very contrarian in times like these to be thinking about scaling, but I can assure you, these are the exact times when very smart businesses are going out there and scooping up businesses that are up against the ropes and adding big revenue streams. They are taking advantage of as their competitors get, you know, you what most of the investors in this space will do today is they are going to turn off their marketing.

Happens every time. 100% they are. Right? We're just going to turn it on down until we figure out exactly what's going on. think of a better time than when my competitors fall asleep than to actually go and scale my business as fast as possible, grow my business as fast as possible in a predictable way and, and fill that vacuum and create as much distance as I possibly can between myself and my competitors. Right. You know, some of you are competing on PPC or direct mail or text or whatever. If 75% of your customers turn off their marketing, how hard is it for you to suddenly be great? Not hard.

What do you have to do? I got to stay in the game. And in fact, I should be spending more money, more effort, more energy to create as much distance. I want to scoop up as much market share as I possibly can, where the first company they think about when it comes to selling real estate or buying real estate is mine from this point forward. That's the opportunity. But if you don't know how to do that and you're playing scared, well, then you're part of that mediocrity. And this is a choice. This is when greatness is created. Either you are part of the mediocrity or you're part of the greatness. And there is no, there are no half measures, right? You got to pick the team you want to be on. And this is a chance to pick the right team. Yeah. I would encourage any of you out there. I don't care if you've done a deal or two to be in a room and to level your game up,

to have the knowledge and wisdom from the other people that have done it longer will only expedite your process to get there faster. If you're in the thick of the weeds right now, and you're an active investor and you're doing 10 wholesale deals and you're flipping this, this has to be a no brainer for you because you need to be around the people, the network, the proximity of people that have made it through this time and time again to give you the right advice that you don't want to go down this way. Yeah, it's contrarian. I mean, think about it. How many people do you hear out there in the market today saying, go harder? You? Yeah. Yeah. Pretty few. And when you think about it, there's not a bunch of guys that have been around doing this for 20 years. So you get to pick who you're going to listen to right now. I can tell you this is when you go harder.

I can tell you in 2008 that this is when, you know, I hate to say it and talk about my even. But the guy you see today that has kind of become, like I said, the OG in the industry, nobody knew who the hell I was before 2008. After 2008, 2000, 2010, everybody knew who I was because of exactly what I'm telling you right now. I realized I was working from a different playbook than everybody else. This is a chance where you can create your empire. You just have to decide where you want to be and how you want to do it. And now you get the advantage. I mean, when I was doing that 2008, 2009, nobody was around me. But now you've got guys like myself and Justin and others that are all being this one room that

have all been through it. And they're all going to tell you the same thing. Like this is that time. You can go listen to the naysayers and go bury your head in the clickbait headlines and get terrified and not do jack shit. Or you can actually do the things that matter right now and set yourself apart in a way that your future self would for sure. Thank you for it. There's no doubt about it. I mean, I'm, you and I talk about this all the time. I am a product of this moment when I had nothing, when I was broke, busted, disgusted, I'm, you and I talk about this all the time. I am a product of this moment. When I had nothing, when I was broke, busted, disgusted, I lost it all, right? Sleeping on a couch. I got into a room just like that. And I, this literally where I met you, dude, right? Like you and I know this, but no one else knows this. Like, because I made the commitment and I had

directed intention and I took action. You guys hear me say it all the time, CIA, CIA, commitment, intention, and action, I met Kent. That's exactly how it happened. So we are clear. And from that, he told me to, you know, no chance, but for a while, but I wore him down and here we are, you know, 12 years later, whatever, 15 years later.

And my point being is this, if you are committed, as Kent says, and you have directed intention of what you're trying to achieve, then you have to take the supporting action. Otherwise you're not doing yourself any favors. So here's what I did. I negotiated with Kent. I'm going to hook you guys up, go to giftfromjustin.com, giftfromjustin.com. And I negotiated a discount for you with Kent. If you put in a promo code 25OFF, O-F-F, TIX, T-I-X, there will be a 25% discount on the tickets. I think there's three or maybe four packages. Choose the one that is right for you. There's general admission.

There's VIP. There's diamond, et cetera. There's different advantages to all of them. I met Kent all those years ago because I was committed to winning. I had a directed intention on what I was trying to achieve. And I took the action to be in a room, sat front row. Kent was on stage. And here we are all these years

later. I'm literally a product of this exact decision you guys have to make by watching this YouTube or listening to this podcast. Yeah. I mean, look, you are a product of the decisions you make and the people you surround yourself with. This is an opportunity to get in the room with real players and not just people on stage, by the way, you know, because our marketing is very specific. If you are a brand new real estate investor, stay home. This is not for you. And so, or if you've never done a deal, it's probably a better way of saying it. But if you're in the game, you're doing deals and you're trying to figure out already how to get to the

next level, everybody in that room, 500 people sitting in that room are going to be where you are or further along. So it's not just the people on stage, it's the people in that room, 500 people sitting in that room are going to be where you are or further along. So it's not just the people on stage, it's the people in that room. And I promise you, this is not some big pitch fest. We're not going to sit here and throw a bunch. I mean, this is highly, highly tactical information. We'll have myself there. We'll have Justin there.

We have Pace, Morby, Jameel will be there. We have Ed Milet will be there. We have Elena Cardone that will be there. Bobby Castro will be there Jameel will be there. We have Ed Milet will be there. We have Elena Cardone that will be there. Bobby Castro will be there. Aaron Wagner will be there. I'm surrounding you with some of the best. And then you guys are the very first to hear this. Nobody knows this.

I haven't even announced it out there at all, but I've got Alex Rodriguez. A-Rod will be there as well. I'm going to talk to him about how he has built his multifamily portfolio to 15,000 units so fast and all the different business ventures he's got in and some of the lessons he's learned and moving from one of the Hall of Fame caliber baseball player into becoming a wildly successful business guy that you see, you know, whether it's on TV, on major league baseball, or whether you see him on shark tank or, you know,

this guy's got a lot of stuff going on. The Timberwolves. That's right. He will be there. Our guy A-Rod. So we got some, we got some high caliber people coming in the room all to uh pour themselves into you and and again if you've never seen ed my let's speak uh uh or a rod or myself or elena or bobby castro or you're in for uh you guys are in for a big a very very big um

an impactful experience coming in there this is not just people talking at you. This is breaking it down, ripping it apart, highly tactical. This is what you should do in your world to make your business and your life exceptional. 100% dude. 100%. Again, giftfromjustin.com, 25 off ticks, 2-5-O-F-F-T-I-X. And Kent has given you the gift. Well, I negotiated it for you. To give you a 25% discount, go there. Make the right decision for yourself. This is everything. The timing couldn't be better. The market is shifting real time. Again, not just the speakers, but even the people in the crowd. They're the network that you want to level yourself up with. So brother, I appreciate you spending this much time with me. Let's get them to the event.

Then they can all shake your hand and get to know you a little bit better. We'll take it from there, dude. I thank you so much for spending some time here and shedding some light on what's happening in the real estate world. Hey man, you know, I love you. Anytime, anyplace and look forward to seeing all you guys there. Love you too, dude.