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Hi, I'm Winston.

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And I'm Nick.

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And welcome to the Real Estate Template.

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What's up today?

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I've got some questions, guys.

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We talked about the pig farm, possibly.

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And you was worried about the environment.

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Yeah, I was worried about the environment.

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Also, the overall difficulty level.

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Go back and look at that video, because I

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am not worried about the environment for a pig farm.

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Right.

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The overall difficulty of a pig farm,

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there's a lot to do on it.

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And I don't necessarily plan on staying in Andy's land forever.

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So if I was to leave, I would just

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be strapping him down with.

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No, you'd have to take your pigs with you.

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That is if I do find a place to do that.

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Life, I might be renting an apartment at some point.

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So if that's the case, then I wouldn't

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want to strap Andy down with while he's

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got a full-time job and a family and a pig farm.

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There's just a lot more to that.

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I didn't want to have that possibly happen,

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where I strapped him down with that.

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I was thinking of a cleaner way of doing things.

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Takes up a lot less space.

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A cleaner way of doing things.

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That sounds so millennial to me.

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You're not millennial, though.

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I'm on the cusp of it.

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It's like millennial and Gen Z. I'm the exact year

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that they debate on.

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1996.

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I've gone from the era where we still burn the tires when they

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come off the car.

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You didn't throw them in the dump, you just burned them.

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Yeah, you can't do that.

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That was a great way to start a fire.

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You could start a fire and go with a tire.

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People still do, especially on our own land.

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I think we've done it once just to try.

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It's taken so long.

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You can't do that.

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I don't think we did it even once.

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That's the right answer.

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So what are we looking at?

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My idea is hydroponic tower farming.

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So I could take it to farmers markets.

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There's a lot of farmers markets,

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especially as a proof of concept here with one tower.

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So this is a real estate investing podcast.

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Absolutely.

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Is this going to eventually link back to real estate investing?

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Yeah, this is a

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So don't shut it off when Nick talks about hydroponics.

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Yeah.

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Don't shut it off.

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Just let's hear what he says, and we will debate this issue.

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You're right, though, because my why

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is eventually getting into investing in real estate

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with rental properties or building a house, anything

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like that.

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But I need some supplemental income

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to accrue what I need as a down payment

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to be able to make these types of moves.

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So my method of doing so on top of just working

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and whatever we've been able to do and my clients also

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having another thing in order to take it over the edge

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so that I could actually accumulate an extra $20,000

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a year.

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Do you have a client right now that's doing this?

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That you're working with?

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Yeah.

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So I've got two filmography jobs.

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And then I also pick up other jobs for businesses just doing

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instructional videos.

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I'm just validating.

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You're not speaking out your butthole.

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You're speaking that there's some stuff back

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in what you're talking about.

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Absolutely.

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And then so this is something that

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has to fit certain parameters of my time, my own knowledge,

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my capabilities, the space, and then how much money it can make

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and hopefully be scalable so that I could get to $20,000

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a year extra just selling at farmers markets

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kind of every weekend or every other weekend,

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something like that.

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So this episode may really interest you out there

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that are green earthers.

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Yeah.

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Is that a term?

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Green earthers.

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Sure.

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I like it.

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I used to love that movie Green Acres, a TV show

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Green Acres growing up.

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Oh, really?

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Yeah, you know what I'm talking about.

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I have no idea.

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It was a good one.

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It was a TV show.

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It was a good little TV show.

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Kind of corny in today's world, but it was good back then.

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When it was back then.

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OK.

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We'll talk about that a little later.

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Probably get overboard with that one.

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Gotcha.

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So a hydroponic tower kind of looks like this.

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And that's PVC pipe at the top, right?

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Yeah.

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I've seen them on the internet and stuff like that.

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Yeah.

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So they've got these holes here.

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And there's water in the bottom.

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There's the water here.

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Now, they grow broccoli or lettuce out of these, right?

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And you can kind of get yield a lot out of the tower.

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And this is only a couple feet, maybe like five feet or less,

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depending on what you actually get.

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So I think that this is a $800 piece of equipment.

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For one?

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For one.

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For one tower?

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For one tower, it costs $800.

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I was going to add probably about $200 for any extra setup

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that I would need for nutrients for the water,

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because it's not just water.

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It's actually a solution that helps

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these particular plants grow.

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So I have some control with the solution of water.

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Whereas if I was just planting in the ground,

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I don't really have control over how much nutrition's

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in the ground, already in the ground.

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And it's a lot harder to get a consistent yield.

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And especially if it turns into a business

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where I have x amount that I'm trying to produce

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at a certain quality level, this mitigates a lot of my risk

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on what my end up yield is going to be.

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So for $1,000, this is $1,000.

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That's the full on investment.

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How much money per month can I make on one tower?

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Certain lettuces can be four weeks

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to yield $300 at a farmer's market.

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How many times do I have to go to the farmer's market

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before I pay for my $1,000 asset?

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If you filled that up with lettuce, all the holes,

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had lettuce coming out of it, four weeks later,

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you would be able to yield $300 worth of sales.

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What about the cost of the nutrients and stuff?

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Right.

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So for each grow, that $200 would

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be spread over a couple of grows.

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OK, so we got to take $100 off of that $300.

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That makes $200 in profit or no?

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Yeah.

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I would say all expenses of the sort for each four weeks

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is probably about $100.

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So about $100 on expenses, OK.

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So we made $200.

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That $200, how many times?

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We'd have to do five weeks.

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And then we fully pay off our $1,000 investment

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from the very beginning.

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Then we're in profit from there on out on that particular asset.

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But the $200 will continue to grow, the $200 profit

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every four weeks.

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Correct.

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OK.

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So what that will yield is $2,600 a year.

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Yeah.

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Per station.

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Because there's 13 four-week periods in a year.

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We discussed that earlier today on talking about interest rates.

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Yes.

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So 13 times $200 would be $2,600 a year.

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$2,600.

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Now that is not taking any labor or anything else

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into consideration, correct?

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That's your labor being free.

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That's the water being free.

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That's the gasoline to take it to market being free.

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That's being at market and being able to get full price.

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Because as it gets a little age on it once you pull it,

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now we're looking at having to discount the price to sell it

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at the farmer's market.

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Yeah.

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And the farmer's market, chances are,

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every four weeks you're going to lose one day at the farmer's

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market of your time selling.

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OK.

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So how many of these would you be wanting to do total?

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So where it becomes scalable is, and if I

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was to do it all by myself, it yielded $2,600.

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So essentially, I'm not taking a profit

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or keeping any of the money that it makes for a little while.

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Because I have to scale and reinvest and reinvest.

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It's a five-year plan by myself to eventually get

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to about 100 of these.

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Now to manage 100 of those, would it require an employee now?

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There's a high possibility.

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So if you hire an employee, OK, let's talk about,

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what is your profit at that five-year period of time

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with 100 of those?

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2,600 times 100?

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Yeah.

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So $26,000 a year?

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$26,000, no, it would be $260,000 a year.

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There's some wiggle room for a $40,000 employee.

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What would the facility look like that you've got to buy,

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to house that, to do that?

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How big of a facility are we talking?

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For infrastructure on facility, these can be outside.

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During certain months of the year, like maybe two months,

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it might be very difficult to grow certain things.

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What can grow at 18 degrees Fahrenheit?

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Not very many things.

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They kind of lay dormant.

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They don't die, but they lay dormant.

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So the 200 may drop in the wintertime

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where you, especially in Tennessee,

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because we have a couple months that are extremely,

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not extremely cold, but cold enough

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you're not going to grow a whole lot outside.

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Exactly.

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So if there was a warehouse and an indoor facility,

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then we wouldn't have to worry about that.

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But these can be outside.

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But then you've got to heat that facility.

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Yeah, there's a bunch of expenses when it comes out.

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If it's not a greenhouse environment,

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then you've got to light it and other stuff.

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OK?

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So yes, there's a crap ton of infrastructure on that end

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if you were to go into a house.

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Give us your input throughout the video.

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You can comment on this three or four times

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throughout the video and let us know, hey, at this point

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I feel this way.

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And then that may change a couple sentences later

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and we'll talk about it again.

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So it's kind of cool.

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So that would turn into a full time job for you

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and a full time job for somebody else.

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So what I look at is I look at vehicles

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got to be purchased to go to farmers market.

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This has to be purchased.

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That's got to be purchased.

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And I'm not going to say that can't

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turn into a good business.

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How would that be any different than just being a farmer

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and just planting it in the ground?

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This, well, for the very beginning, I guess,

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maybe it doesn't get all the way up to 100 or so.

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Maybe it is just a way to make an extra $5,000, $10,000

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a year.

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So it's my knowledge level.

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Using the dirt that has never been planted on before

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is a difficult thing to just start up.

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Well, because I haven't, the lack of knowledge that I have,

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making sure that my solution has a certain amount of whatever

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to yield me what I need here seems a lot easier than farming,

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00:11:49,760 --> 00:11:51,120
tilling.

267
00:11:51,120 --> 00:11:52,440
I don't have a tiller.

268
00:11:52,440 --> 00:11:54,400
So for the first five years, you're

269
00:11:54,400 --> 00:11:58,360
going to be pretty much investing everything you make

270
00:11:58,360 --> 00:12:01,320
plus some back into it, right?

271
00:12:01,320 --> 00:12:04,400
Because obviously, you're going to take money out of your pocket

272
00:12:04,400 --> 00:12:05,640
to do this.

273
00:12:05,640 --> 00:12:09,400
That's $1,000 that you're only making $200 a year off of.

274
00:12:09,400 --> 00:12:10,360
No, that's not per year.

275
00:12:10,360 --> 00:12:11,120
That's per month.

276
00:12:11,120 --> 00:12:13,160
Per four weeks.

277
00:12:13,160 --> 00:12:17,120
Then you got another $1,000 per four weeks, another $1,000

278
00:12:17,120 --> 00:12:17,880
per four weeks.

279
00:12:17,880 --> 00:12:20,480
So you're throwing everything back into it to try and do it.

280
00:12:20,480 --> 00:12:21,440
Maybe this month you buy one.

281
00:12:21,440 --> 00:12:22,680
Maybe next month you buy two.

282
00:12:22,680 --> 00:12:25,480
Maybe next month you buy three, and so on and so forth.

283
00:12:25,480 --> 00:12:29,920
And you keep investing it.

284
00:12:29,920 --> 00:12:34,360
And you're saying by the end of year number five

285
00:12:34,360 --> 00:12:37,960
that you feel like you'll be able to make about $260,000

286
00:12:37,960 --> 00:12:41,480
a year on sales.

287
00:12:41,480 --> 00:12:45,920
By year five, all by myself, it would probably be more like,

288
00:12:45,920 --> 00:12:48,080
yeah, I mean, if I worked really hard,

289
00:12:48,080 --> 00:12:49,760
I guess I could get it to $100,000.

290
00:12:49,760 --> 00:12:51,960
But $100,000 would be stretching it.

291
00:12:51,960 --> 00:12:57,240
That's $100,000 in total investments on things.

292
00:12:57,240 --> 00:13:00,080
So I have to make $100,000 in the next five years.

293
00:13:00,080 --> 00:13:01,520
That gets back into the base.

294
00:13:01,520 --> 00:13:03,280
So you're thinking five years from now,

295
00:13:03,280 --> 00:13:07,080
you can be at $100,000, not $260,000.

296
00:13:07,080 --> 00:13:09,960
Well, these assets alone would cost $100,000.

297
00:13:09,960 --> 00:13:14,360
So somewhere in that five years, I had made $100,000

298
00:13:14,360 --> 00:13:16,120
and reinvested it back into the asset.

299
00:13:16,120 --> 00:13:21,160
So we're talking at the end of a five-year period of time,

300
00:13:21,160 --> 00:13:23,320
where will you be if you took all your stuff,

301
00:13:23,320 --> 00:13:25,240
sold everything, and stood naked in the street

302
00:13:25,240 --> 00:13:28,440
with nothing but some money?

303
00:13:28,440 --> 00:13:30,800
Like the cash or liquidating the asset?

304
00:13:30,800 --> 00:13:32,360
Liquidate everything.

305
00:13:32,360 --> 00:13:33,480
You're walking away with what?

306
00:13:33,480 --> 00:13:35,880
There'd be $120,000 in that.

307
00:13:35,880 --> 00:13:38,520
So about $120,000 worth of profit if you sold everything

308
00:13:38,520 --> 00:13:39,400
and that was it?

309
00:13:39,400 --> 00:13:41,440
Yeah.

310
00:13:41,440 --> 00:13:45,160
Which I think, is there more to this?

311
00:13:45,160 --> 00:13:45,680
What?

312
00:13:45,680 --> 00:13:46,560
Is there more to this?

313
00:13:50,160 --> 00:13:52,240
That's just my idea.

314
00:13:52,240 --> 00:13:56,040
I don't have an issue with that.

315
00:13:56,040 --> 00:14:01,440
I've farmed for at least 15 years of my life.

316
00:14:01,440 --> 00:14:02,680
I've farmed.

317
00:14:02,680 --> 00:14:04,920
Hated every aspect of it.

318
00:14:04,920 --> 00:14:06,880
And as long as Kroger and Publix are out there,

319
00:14:06,880 --> 00:14:07,920
I will never farm again.

320
00:14:07,920 --> 00:14:09,440
There's no chance of it at all.

321
00:14:12,120 --> 00:14:13,760
And that's me, not necessarily you.

322
00:14:13,760 --> 00:14:15,520
But we used to plant 100 acres of watermelons

323
00:14:15,520 --> 00:14:16,840
and we would farm them, we would hoe them,

324
00:14:16,840 --> 00:14:18,280
and we would do beans, and we would do corn,

325
00:14:18,280 --> 00:14:20,240
and we would do all this other crazy stuff.

326
00:14:20,240 --> 00:14:22,360
And it was from daylight to dark,

327
00:14:22,360 --> 00:14:24,520
you worked in those fields and you worked on that stuff.

328
00:14:24,520 --> 00:14:28,200
And that was not the life I wanted.

329
00:14:28,200 --> 00:14:29,560
I wasn't looking for that.

330
00:14:29,560 --> 00:14:33,440
So when I left that life, I never went back.

331
00:14:33,440 --> 00:14:34,600
So this is next way.

332
00:14:34,600 --> 00:14:36,000
Y'all let us know what you think.

333
00:14:36,000 --> 00:14:39,800
So here's my way.

334
00:14:39,800 --> 00:14:45,040
I'm going to go out over that five-year period of time

335
00:14:45,040 --> 00:14:51,960
and I'm going to buy three greenhouses, one red hotel.

336
00:14:51,960 --> 00:15:07,320
Then I'm going to rinse and repeat, different concept.

337
00:15:07,320 --> 00:15:10,200
Why is one better than the other?

338
00:15:10,200 --> 00:15:12,680
I'm out of frame right now, I'm good, right?

339
00:15:12,680 --> 00:15:13,200
Right.

340
00:15:13,200 --> 00:15:15,480
Why is one better than the other?

341
00:15:15,480 --> 00:15:18,280
I mean, I would get into that game

342
00:15:18,280 --> 00:15:25,240
if I had 40, 90 grand to get into that game.

343
00:15:25,240 --> 00:15:30,400
So Nick said he will get into that game

344
00:15:30,400 --> 00:15:34,000
if he could get 40 or 90 grand to be able to get into that game.

345
00:15:34,000 --> 00:15:36,120
How many people you think are watching this video

346
00:15:36,120 --> 00:15:38,560
is thinking the same thing?

347
00:15:38,560 --> 00:15:39,040
Probably a few.

348
00:15:39,040 --> 00:15:40,160
Most of them, right?

349
00:15:40,160 --> 00:15:40,760
Yeah.

350
00:15:40,760 --> 00:15:41,880
I say most of them.

351
00:15:41,880 --> 00:15:43,800
So what is the solution?

352
00:15:43,800 --> 00:15:47,480
So to go out, I got a house and a contract right now, right?

353
00:15:47,480 --> 00:15:50,160
For $170,000.

354
00:15:50,160 --> 00:15:52,080
So if I got a house on the contract right now

355
00:15:52,080 --> 00:15:58,520
for $170,000, that will rent for $1,800 a month.

356
00:15:58,520 --> 00:16:01,800
Can you find a house right now for $170,000

357
00:16:01,800 --> 00:16:03,880
that will rent for $1,800 a month?

358
00:16:03,880 --> 00:16:07,320
Can anyone watching this video do the same thing?

359
00:16:07,320 --> 00:16:08,320
They're there.

360
00:16:08,320 --> 00:16:10,040
Are they easy to find?

361
00:16:10,040 --> 00:16:10,840
Probably not, no.

362
00:16:10,840 --> 00:16:12,200
No, you have looked and looked and looked.

363
00:16:12,200 --> 00:16:13,080
They're hard to find.

364
00:16:13,080 --> 00:16:13,480
They're hard to find.

365
00:16:13,480 --> 00:16:16,240
There's not very many sub-$200,000 houses that are low.

366
00:16:16,240 --> 00:16:20,200
But the more people you talk to, this $170,000 house I'm buying,

367
00:16:20,200 --> 00:16:23,200
did I go out and find this house?

368
00:16:23,200 --> 00:16:23,760
Yeah.

369
00:16:23,760 --> 00:16:26,560
No, I did not.

370
00:16:26,560 --> 00:16:30,240
Somebody that knew I buy houses called me.

371
00:16:30,240 --> 00:16:32,560
So as you're out there talking to different people saying,

372
00:16:32,560 --> 00:16:33,640
hey, I want to buy a house, I want to buy a house,

373
00:16:33,640 --> 00:16:36,680
I want to buy a house, as you're out there trying to do that,

374
00:16:36,680 --> 00:16:38,920
you are going to have people that have your number

375
00:16:38,920 --> 00:16:40,680
and eventually they're going to call you

376
00:16:40,680 --> 00:16:42,400
and they're going to reach out to you.

377
00:16:42,400 --> 00:16:44,160
And you all can do the exact same thing.

378
00:16:44,160 --> 00:16:48,800
So I got a $170,000 house I'm going to buy.

379
00:16:48,800 --> 00:16:54,080
And let's say I want to finance it.

380
00:16:54,080 --> 00:16:56,080
So the bank says you got to put 20% down.

381
00:16:56,080 --> 00:16:57,800
What's 20% of that?

382
00:16:57,800 --> 00:16:58,360
I don't know.

383
00:16:58,360 --> 00:16:59,560
I have to get calculated out.

384
00:16:59,560 --> 00:17:01,920
Looking at about $30,000.

385
00:17:01,920 --> 00:17:03,480
Let's see.

386
00:17:03,480 --> 00:17:05,160
$34,000.

387
00:17:05,160 --> 00:17:12,440
So I got to come up with $34,000 to buy this deal.

388
00:17:12,440 --> 00:17:15,240
Where do I get $34,000?

389
00:17:15,240 --> 00:17:17,760
Well, that was kind of the plan a little bit for this.

390
00:17:17,760 --> 00:17:20,680
I mean, things would get scaled to a certain extent.

391
00:17:20,680 --> 00:17:22,480
Yeah, but we're five years out.

392
00:17:22,480 --> 00:17:23,880
I don't have five years.

393
00:17:23,880 --> 00:17:24,960
I'm 56 years old.

394
00:17:24,960 --> 00:17:26,800
I'll be 61 in five years.

395
00:17:26,800 --> 00:17:29,840
But I think I would have five.

396
00:17:29,840 --> 00:17:33,560
Once I get about the $34,000 or something,

397
00:17:33,560 --> 00:17:39,000
maybe the next investment is going straight into.

398
00:17:39,000 --> 00:17:40,640
I do have to scale this for a little bit.

399
00:17:40,640 --> 00:17:42,240
But like a year or two, three years later,

400
00:17:42,240 --> 00:17:44,920
I have the $34,000 that can go into the house.

401
00:17:44,920 --> 00:17:45,400
OK.

402
00:17:49,560 --> 00:17:52,440
How hard is it to come up with $34,000?

403
00:17:52,440 --> 00:17:56,120
I mean, some people will never do it.

404
00:17:56,120 --> 00:17:57,880
Most people will never do it.

405
00:17:57,880 --> 00:18:00,440
But how hard is it really?

406
00:18:00,440 --> 00:18:02,600
I mean, it's not easy.

407
00:18:02,600 --> 00:18:04,880
Why is it not easy?

408
00:18:04,880 --> 00:18:08,600
Because it's just not.

409
00:18:08,600 --> 00:18:13,200
I could go to work every day and get off work,

410
00:18:13,200 --> 00:18:17,240
get in my truck and Uber the next four or five

411
00:18:17,240 --> 00:18:19,040
hours of the night.

412
00:18:19,040 --> 00:18:23,880
And I could very easily save up $34,000 a year doing that.

413
00:18:23,880 --> 00:18:28,440
My weekends, Uber on days off, I sacrifice my time for money.

414
00:18:28,440 --> 00:18:30,120
And then eventually, my money makes me money.

415
00:18:30,120 --> 00:18:35,120
I could offer my grandfather 8% interest

416
00:18:35,120 --> 00:18:37,560
if he'll let me borrow the $34,000.

417
00:18:37,560 --> 00:18:39,200
So he lets me borrow the $34,000.

418
00:18:39,200 --> 00:18:40,200
I do it.

419
00:18:40,200 --> 00:18:41,600
I pay him his money.

420
00:18:41,600 --> 00:18:44,360
I make the property where it'll cash flow.

421
00:18:44,360 --> 00:18:46,720
And I think the property will cash flow with that.

422
00:18:46,720 --> 00:18:48,960
If I was paying him 8% on that, you

423
00:18:48,960 --> 00:18:50,600
could still make a cash flow.

424
00:18:50,600 --> 00:18:58,040
And if it cash flowed, now I'm going to have to pay him

425
00:18:58,040 --> 00:19:03,360
$3,000, now I might not be making a ton of money,

426
00:19:03,360 --> 00:19:06,280
if any money, on my cash flow of the property.

427
00:19:06,280 --> 00:19:09,960
But I am making 10% on appreciation.

428
00:19:09,960 --> 00:19:12,120
I am not paying tax on a profit because I

429
00:19:12,120 --> 00:19:13,680
do get to use the depreciation on that.

430
00:19:13,680 --> 00:19:17,360
So that eats up my profit off of anything if I had it.

431
00:19:17,360 --> 00:19:18,760
Plus, it then combines, too.

432
00:19:18,760 --> 00:19:20,880
So it builds up for whenever my profits get better.

433
00:19:20,880 --> 00:19:21,560
It's still there.

434
00:19:21,560 --> 00:19:23,840
I don't lose what I don't use.

435
00:19:23,840 --> 00:19:26,400
Then I get my principal reduction,

436
00:19:26,400 --> 00:19:29,920
which on that note will probably be about close to $4,000

437
00:19:29,920 --> 00:19:31,240
the first year that I would get.

438
00:19:31,240 --> 00:19:33,440
I would make that $4,000 also.

439
00:19:33,440 --> 00:19:35,360
Whose money is invested in it?

440
00:19:35,360 --> 00:19:37,040
Grandpa's not mine.

441
00:19:37,040 --> 00:19:37,880
Is grandpa happy?

442
00:19:37,880 --> 00:19:41,040
He's getting 8% return on his investment.

443
00:19:41,040 --> 00:19:44,120
He's happy with that because is he guaranteed debt at the bank?

444
00:19:44,120 --> 00:19:45,240
Is he guaranteed debt in the market?

445
00:19:45,240 --> 00:19:45,920
No.

446
00:19:45,920 --> 00:19:47,360
There's a lot of people pulling money out of the market

447
00:19:47,360 --> 00:19:49,280
right now because they're scared of debt in the market.

448
00:19:49,280 --> 00:19:51,880
So they're going to sit on that money.

449
00:19:51,880 --> 00:19:55,560
I have somebody that's a friend of mine that just yesterday,

450
00:19:55,560 --> 00:19:57,320
they found out that interest rates are supposed to be

451
00:19:57,320 --> 00:19:59,840
going down in the next couple of weeks.

452
00:19:59,840 --> 00:20:02,720
So if interest rates are going to be going down,

453
00:20:02,720 --> 00:20:05,200
then the CD market is going to go down also.

454
00:20:05,200 --> 00:20:08,720
So if interest rates drop, the CD's are paying like 5%

455
00:20:08,720 --> 00:20:09,680
right now.

456
00:20:09,680 --> 00:20:12,800
CDs will drop down to 4% or 3%.

457
00:20:12,800 --> 00:20:15,880
So he went and put his money into a CD, a six month CD,

458
00:20:15,880 --> 00:20:18,280
seven month CD, whatever, for 5% so that he

459
00:20:18,280 --> 00:20:19,800
could make that percentage off of that

460
00:20:19,800 --> 00:20:20,960
because he's worried about it.

461
00:20:20,960 --> 00:20:24,880
So if he was willing to tie that money up for months at 5%,

462
00:20:24,880 --> 00:20:29,040
would that same person give you that same money for 8%?

463
00:20:29,040 --> 00:20:29,560
Yeah.

464
00:20:29,560 --> 00:20:31,040
Yes.

465
00:20:31,040 --> 00:20:32,920
Can y'all do that exact same thing?

466
00:20:32,920 --> 00:20:34,120
Absolutely, you can.

467
00:20:34,120 --> 00:20:35,200
You can.

468
00:20:35,200 --> 00:20:36,680
So we get that $34,000.

469
00:20:36,680 --> 00:20:37,440
We get that house.

470
00:20:37,440 --> 00:20:43,200
Now we're making more than $20,000 a year off of that house.

471
00:20:43,200 --> 00:20:44,720
How much did we sacrifice?

472
00:20:44,720 --> 00:20:47,120
If grandpa gave me all the money, I didn't sacrifice anything.

473
00:20:47,120 --> 00:20:49,320
Not even any time, really.

474
00:20:49,320 --> 00:20:53,960
If I have to go back now, now, if you

475
00:20:53,960 --> 00:20:55,840
can agree to do that for three years

476
00:20:55,840 --> 00:20:57,880
before you pay grandpa back, three years from now,

477
00:20:57,880 --> 00:20:59,960
you go cash out refi.

478
00:20:59,960 --> 00:21:02,640
Your rents have went up 3% to 5% every single year

479
00:21:02,640 --> 00:21:03,960
for those three years.

480
00:21:03,960 --> 00:21:05,800
Now you've got enough money to cash flow

481
00:21:05,800 --> 00:21:07,960
to pay him off completely.

482
00:21:07,960 --> 00:21:09,720
And you still have a little extra money.

483
00:21:09,720 --> 00:21:11,440
And then go do it.

484
00:21:11,440 --> 00:21:12,760
You do this on year number one.

485
00:21:12,760 --> 00:21:16,400
You could do the same thing on year number two.

486
00:21:16,400 --> 00:21:19,120
How much work is in this right now?

487
00:21:19,120 --> 00:21:21,960
I'm going to tell you right now, this house is in great shape.

488
00:21:21,960 --> 00:21:24,320
This house we're talking about for $170,000

489
00:21:24,320 --> 00:21:27,600
needs nothing at all done to it at all.

490
00:21:27,600 --> 00:21:31,320
So for me, I can do that deal.

491
00:21:31,320 --> 00:21:33,760
And when that deal is done, that deal is done.

492
00:21:33,760 --> 00:21:37,880
And I'm going to put a $500 a year maintenance fee on that

493
00:21:37,880 --> 00:21:38,840
that I'm going to pay.

494
00:21:38,840 --> 00:21:39,720
I'm going to include it in my numbers

495
00:21:39,720 --> 00:21:41,040
when I run my numbers.

496
00:21:41,040 --> 00:21:44,120
And in the end, I got nothing.

497
00:21:44,120 --> 00:21:45,840
My money is making me money.

498
00:21:45,840 --> 00:21:47,720
Grandpa's money is making me money.

499
00:21:47,720 --> 00:21:52,720
I don't even have any money invested in this deal.

500
00:21:56,000 --> 00:21:57,000
What's your thoughts?

501
00:21:58,000 --> 00:21:58,840
My thoughts are?

502
00:21:58,840 --> 00:22:02,040
And I'm not talking shit about what you got right here.

503
00:22:02,040 --> 00:22:07,040
I'm just saying, if you're doing this to do this,

504
00:22:08,480 --> 00:22:10,720
I think you can be so much further.

505
00:22:11,640 --> 00:22:14,280
You can be done with the three greenhouses

506
00:22:14,280 --> 00:22:16,200
in those five years, easy.

507
00:22:16,200 --> 00:22:18,440
You can be done with those three greenhouses.

508
00:22:18,440 --> 00:22:19,880
And let's say at the end of those five years,

509
00:22:19,880 --> 00:22:21,120
let's not call this a red hotel.

510
00:22:21,120 --> 00:22:26,120
Let's just call it a red quad, four unit building.

511
00:22:28,760 --> 00:22:30,680
It ain't got to be a hotel.

512
00:22:30,680 --> 00:22:33,520
It's just something else that's got a little bit more value,

513
00:22:33,520 --> 00:22:34,760
a little bit bigger deal,

514
00:22:34,760 --> 00:22:36,040
let you make a little bit more money.

515
00:22:36,040 --> 00:22:37,280
It could be a duplex.

516
00:22:37,280 --> 00:22:38,120
Yeah.

517
00:22:39,080 --> 00:22:39,920
Yeah, so let's start there.

518
00:22:39,920 --> 00:22:44,920
So we got four, it kills the Monopoly game experience

519
00:22:44,920 --> 00:22:46,320
when I do this, but okay.

520
00:22:46,320 --> 00:22:48,480
So we got four greenhouses

521
00:22:49,800 --> 00:22:54,200
and then we got one red duplex.

522
00:22:54,200 --> 00:22:56,200
Yeah, that's a good look at duplex.

523
00:22:56,200 --> 00:23:01,200
We get so caught up in the minutia of getting this done

524
00:23:03,760 --> 00:23:04,800
and how can we do it?

525
00:23:05,640 --> 00:23:08,760
Your generation is extremely concerned about environment.

526
00:23:09,920 --> 00:23:11,600
Our country seems like they're extremely concerned

527
00:23:11,600 --> 00:23:12,440
about our environment.

528
00:23:12,440 --> 00:23:13,600
You know who's not concerned about our environment?

529
00:23:13,600 --> 00:23:14,440
The government.

530
00:23:14,440 --> 00:23:15,600
The government is concerned about other countries.

531
00:23:15,600 --> 00:23:16,960
The government really isn't either.

532
00:23:16,960 --> 00:23:18,720
The government regulations on the environment

533
00:23:18,720 --> 00:23:19,720
makes the government money.

534
00:23:19,720 --> 00:23:21,400
That's what our government's saying.

535
00:23:21,400 --> 00:23:23,120
You look at China and you look at other countries,

536
00:23:23,120 --> 00:23:26,840
they don't give a rat's ass about the environment.

537
00:23:27,960 --> 00:23:29,920
China put plans in place that they're gonna do this

538
00:23:29,920 --> 00:23:30,840
and they're gonna reach these emissions,

539
00:23:30,840 --> 00:23:33,160
but they're gonna reach these emissions in 20 years.

540
00:23:33,160 --> 00:23:34,000
Not now.

541
00:23:34,000 --> 00:23:35,680
They're gonna do as much as they wanna do right now

542
00:23:35,680 --> 00:23:36,880
with the people that live in that country

543
00:23:36,880 --> 00:23:39,120
have so much smoke and all they gotta wear a mask

544
00:23:39,120 --> 00:23:41,400
just to breathe outside.

545
00:23:41,400 --> 00:23:43,160
That's not a country that cares about their environment.

546
00:23:43,160 --> 00:23:45,800
I mean, we are one of the cleanest countries around,

547
00:23:45,800 --> 00:23:47,920
not the cleanest, but one of the cleanest,

548
00:23:47,920 --> 00:23:50,160
and we're in great shape.

549
00:23:50,160 --> 00:23:55,000
So I'm not saying don't worry about the environment.

550
00:23:55,000 --> 00:24:00,000
What I'm saying is how do we get you to the point

551
00:24:00,840 --> 00:24:02,920
that your money is making you money,

552
00:24:02,920 --> 00:24:05,320
you no longer happen to work for a job?

553
00:24:06,880 --> 00:24:07,840
You work because you want to.

554
00:24:07,840 --> 00:24:09,440
You work because it's a passion.

555
00:24:11,400 --> 00:24:12,960
And I'm struggling with everything right now

556
00:24:12,960 --> 00:24:15,440
because I don't have to work anymore

557
00:24:15,440 --> 00:24:16,600
and I don't know what to do with my time.

558
00:24:16,600 --> 00:24:18,280
So all I really want to do is work.

559
00:24:20,320 --> 00:24:21,160
Hell, it's so bad.

560
00:24:21,160 --> 00:24:22,960
I thought about gonna get a job at Lowe's.

561
00:24:24,080 --> 00:24:26,080
But then I thought, why would I go work at Lowe's

562
00:24:26,080 --> 00:24:26,920
for 40 hours?

563
00:24:26,920 --> 00:24:28,120
Go build a freaking house on your own

564
00:24:28,120 --> 00:24:30,560
and just do the work yourself.

565
00:24:30,560 --> 00:24:32,800
So I just need to do something a little bit different.

566
00:24:34,400 --> 00:24:36,320
Yeah, my little brother and older brother

567
00:24:36,320 --> 00:24:39,480
and I had a conversation about kind of like that.

568
00:24:39,480 --> 00:24:43,760
What would you do if you had $10 million or something

569
00:24:43,760 --> 00:24:48,200
and you make $17,500 a month and very consistent

570
00:24:48,200 --> 00:24:50,240
like you don't need to do anything anymore?

571
00:24:51,160 --> 00:24:53,400
Kind of like what you're talking about?

572
00:24:53,400 --> 00:24:54,800
It's a big question.

573
00:24:54,800 --> 00:24:56,000
I don't have an answer.

574
00:24:57,760 --> 00:25:02,760
But I think my biggest obstacle on this is

575
00:25:02,760 --> 00:25:07,640
even if grandfather loves me,

576
00:25:09,560 --> 00:25:13,320
why does he think that I'm capable of buying this house,

577
00:25:13,320 --> 00:25:17,320
using his money, being on top of making sure it's rented

578
00:25:17,320 --> 00:25:20,280
and like I've never done it before,

579
00:25:20,280 --> 00:25:21,960
why does he think I'm capable?

580
00:25:22,880 --> 00:25:23,720
Why would he trust that?

581
00:25:23,720 --> 00:25:25,480
Why would grandpa trust you?

582
00:25:25,480 --> 00:25:26,880
Good answer, good question.

583
00:25:28,240 --> 00:25:30,040
I think one thing is for sure,

584
00:25:30,040 --> 00:25:33,120
any and all of our relatives want us all to be successful.

585
00:25:35,120 --> 00:25:37,840
If grandpa has the extra money for that right there

586
00:25:39,360 --> 00:25:40,680
and you show him a house and say,

587
00:25:40,680 --> 00:25:43,160
I'm paying 170,000 for this house.

588
00:25:43,160 --> 00:25:44,400
You take him, you show him the house,

589
00:25:44,400 --> 00:25:47,960
he looks at the house and you say,

590
00:25:47,960 --> 00:25:49,680
grandpa, until I pull your name off of it,

591
00:25:49,680 --> 00:25:52,680
I'll put your name on the deed of this house.

592
00:25:52,680 --> 00:25:56,200
So it's your house and his house, okay?

593
00:25:56,200 --> 00:25:58,960
You got the loan, grandpa still got his name on that deed.

594
00:25:58,960 --> 00:26:00,920
Or maybe you do a promissory note,

595
00:26:00,920 --> 00:26:02,440
tying it to the deed for him,

596
00:26:02,440 --> 00:26:04,840
whatever you gotta do as far as the bank is concerned for that.

597
00:26:07,080 --> 00:26:08,360
Does he have any risk?

598
00:26:10,160 --> 00:26:13,400
I mean, yes, putting the control or just the management

599
00:26:13,400 --> 00:26:16,680
or the oversight, the eyeballs on me,

600
00:26:18,040 --> 00:26:19,240
and I could fail.

601
00:26:19,240 --> 00:26:20,760
Okay, so the question is,

602
00:26:21,760 --> 00:26:25,040
is the house truly worth 170 or is it worth 140?

603
00:26:25,040 --> 00:26:30,040
If it's worth 170 and you fail,

604
00:26:30,040 --> 00:26:31,920
can grandpa still sell it for 170?

605
00:26:34,840 --> 00:26:35,680
Yeah, I guess so.

606
00:26:35,680 --> 00:26:36,920
He can still sell it for 170.

607
00:26:36,920 --> 00:26:38,040
He can still get his money out.

608
00:26:38,040 --> 00:26:39,040
Is it gonna be easy?

609
00:26:39,040 --> 00:26:40,680
It might be a little bit more work.

610
00:26:40,680 --> 00:26:41,520
But the question is,

611
00:26:41,520 --> 00:26:43,080
what's your relationship with grandpa?

612
00:26:44,480 --> 00:26:45,320
You know.

613
00:26:45,320 --> 00:26:46,400
Or whoever.

614
00:26:46,400 --> 00:26:47,680
What is it?

615
00:26:47,680 --> 00:26:50,040
I mean, if it's a good relationship,

616
00:26:50,040 --> 00:26:51,680
then he's gonna be there to help you too.

617
00:26:51,680 --> 00:26:53,640
What if grandpa doesn't want you to help him?

618
00:26:53,640 --> 00:26:55,200
He's gonna be there to help you too.

619
00:26:55,200 --> 00:26:56,600
What if grandpa doesn't construction for a living?

620
00:26:56,600 --> 00:26:57,440
He says, yeah, I'll help you.

621
00:26:57,440 --> 00:26:58,280
I'll give you some advice

622
00:26:58,280 --> 00:26:59,760
and I'll walk through this with you.

623
00:26:59,760 --> 00:27:00,600
Let's do it.

624
00:27:00,600 --> 00:27:01,760
Let's get you a house.

625
00:27:02,840 --> 00:27:05,040
You know, what do the,

626
00:27:05,040 --> 00:27:08,320
there are tons and tons of syndicators in our country, right?

627
00:27:08,320 --> 00:27:09,800
So syndicators are people that go out

628
00:27:09,800 --> 00:27:12,080
and they'll bring in a pool of investors

629
00:27:12,080 --> 00:27:15,520
to buy an apartment complex, an office building,

630
00:27:15,520 --> 00:27:17,160
maybe even just a house.

631
00:27:17,160 --> 00:27:18,760
You know, they just bring,

632
00:27:18,760 --> 00:27:19,920
maybe they bring five people in

633
00:27:19,920 --> 00:27:23,120
and maybe they bring 500 people in to do a deal.

634
00:27:23,120 --> 00:27:24,520
It's on both scenarios.

635
00:27:24,520 --> 00:27:25,760
You know, most of the buildings,

636
00:27:25,760 --> 00:27:27,880
the high rise buildings you see in your city,

637
00:27:27,880 --> 00:27:30,680
they were bought by a large group of investors,

638
00:27:30,680 --> 00:27:31,840
all pooled their money together.

639
00:27:31,840 --> 00:27:33,000
They built the deal.

640
00:27:33,000 --> 00:27:35,320
They went a couple of years with not making any money

641
00:27:35,320 --> 00:27:36,360
and now they're making some money.

642
00:27:36,360 --> 00:27:38,520
Then they do a cash out refi, they get paid off.

643
00:27:38,520 --> 00:27:40,440
They're still in the deal and hanging on.

644
00:27:40,440 --> 00:27:42,200
That's a syndication deal.

645
00:27:42,200 --> 00:27:45,440
So how hard is it?

646
00:27:45,440 --> 00:27:47,440
How hard do you think it would be for me to go out

647
00:27:47,440 --> 00:27:49,200
and get investors to give me money?

648
00:27:50,080 --> 00:27:50,920
Not very hard.

649
00:27:50,920 --> 00:27:52,680
You have to prove a track record.

650
00:27:52,680 --> 00:27:55,240
I have an extremely proven track record.

651
00:27:55,240 --> 00:27:57,080
I could probably say on this video

652
00:27:57,080 --> 00:27:59,880
that I'm looking for a million dollars

653
00:27:59,880 --> 00:28:02,840
and I bet you I could pull that million dollars in

654
00:28:02,840 --> 00:28:04,400
by next week.

655
00:28:04,400 --> 00:28:06,480
I'm not looking for any money, by the way.

656
00:28:06,480 --> 00:28:10,600
But if I was, there are people out there

657
00:28:10,600 --> 00:28:14,240
that trust me enough that would easily give me money.

658
00:28:14,240 --> 00:28:15,600
I've had people call me,

659
00:28:15,600 --> 00:28:17,120
I have them call me all the time asking me,

660
00:28:17,120 --> 00:28:19,440
you have anything I can invest with you on?

661
00:28:19,440 --> 00:28:20,600
And I've just never had partners.

662
00:28:20,600 --> 00:28:21,880
So I'm a little hesitant on it.

663
00:28:21,880 --> 00:28:24,440
I struggle with it and that's just been me.

664
00:28:24,440 --> 00:28:27,480
But I have a lot of friends that do syndications

665
00:28:27,480 --> 00:28:29,360
and they have money.

666
00:28:29,360 --> 00:28:31,920
We saw the lady that came in two weeks ago,

667
00:28:31,920 --> 00:28:33,560
three weeks ago, maybe a month ago.

668
00:28:33,560 --> 00:28:36,360
They came in and talked to me wanting to do some deals.

669
00:28:36,360 --> 00:28:38,560
And she's wanting to invest with me.

670
00:28:38,560 --> 00:28:42,280
And she has a proven track record of what she does.

671
00:28:42,280 --> 00:28:44,920
And she is very proven.

672
00:28:44,920 --> 00:28:46,840
She says she can come up with a couple million dollars

673
00:28:46,840 --> 00:28:48,560
to invest a month.

674
00:28:48,560 --> 00:28:49,400
A month?

675
00:28:49,400 --> 00:28:50,400
A month.

676
00:28:50,400 --> 00:28:51,920
So if I wanted to do investments with her,

677
00:28:51,920 --> 00:28:54,400
she could come up with a couple million dollars a month

678
00:28:54,400 --> 00:28:55,680
and we could do the deals.

679
00:28:59,880 --> 00:29:03,800
So if that happens with me, that can happen with you.

680
00:29:04,640 --> 00:29:09,160
What it takes is three green houses, one red duplex.

681
00:29:10,440 --> 00:29:12,400
If you have three successful rental houses

682
00:29:12,400 --> 00:29:14,800
and you got one red duplex over here successful,

683
00:29:15,840 --> 00:29:17,960
people start taking recognition of you

684
00:29:17,960 --> 00:29:20,720
just with those five properties or four properties,

685
00:29:20,720 --> 00:29:23,360
five doors, four properties, just with those four doors.

686
00:29:23,360 --> 00:29:24,800
They start taking recognition of you.

687
00:29:24,800 --> 00:29:26,520
And you keep going.

688
00:29:26,520 --> 00:29:28,840
And you just find one person.

689
00:29:28,840 --> 00:29:30,280
There's a lot of business owners out there

690
00:29:30,280 --> 00:29:31,840
that would love to have somebody,

691
00:29:31,840 --> 00:29:33,840
hey, I don't want to do this freaking work.

692
00:29:33,840 --> 00:29:34,800
I wanna go to work.

693
00:29:34,800 --> 00:29:35,720
I wanna make my money.

694
00:29:35,720 --> 00:29:38,320
I wanna go home and I don't want about anything.

695
00:29:38,320 --> 00:29:42,160
And you tell them, all I need you to do is be the money guy.

696
00:29:42,160 --> 00:29:44,680
You can have half of everything we do

697
00:29:44,680 --> 00:29:47,560
and let's just do some deals.

698
00:29:47,560 --> 00:29:48,640
How many people out there do that?

699
00:29:48,640 --> 00:29:50,000
There's a lot that do that.

700
00:29:51,480 --> 00:29:54,040
And there's a lot of partnerships that fail,

701
00:29:54,040 --> 00:29:55,560
but there's also a lot of partnerships

702
00:29:55,560 --> 00:29:56,800
that are very successful.

703
00:29:58,520 --> 00:30:01,560
And all that depends on who you are and what you're about,

704
00:30:01,560 --> 00:30:04,160
who the partner you pick is and what they're about.

705
00:30:06,720 --> 00:30:08,720
If they're controlling and you're out there,

706
00:30:08,720 --> 00:30:10,080
you're supposed to be the one doing all the work.

707
00:30:10,080 --> 00:30:12,040
They're gonna control you enough, you're not gonna like it.

708
00:30:12,040 --> 00:30:13,480
You're gonna hate that.

709
00:30:13,480 --> 00:30:14,800
So they need to give you the freedom.

710
00:30:14,800 --> 00:30:15,640
You need to set those.

711
00:30:15,640 --> 00:30:18,680
These are, I'm doing this in six weeks,

712
00:30:18,680 --> 00:30:19,520
this is what's gonna happen.

713
00:30:19,520 --> 00:30:22,000
And you need to hold to what you tell them you're gonna do

714
00:30:22,000 --> 00:30:24,440
so that nobody has to hold you accountable

715
00:30:24,440 --> 00:30:25,280
or anything like that.

716
00:30:25,280 --> 00:30:26,480
I mean, there's a lot to be said

717
00:30:26,480 --> 00:30:28,480
and just don't what you're supposed to do.

718
00:30:33,920 --> 00:30:35,400
Comments?

719
00:30:35,400 --> 00:30:36,520
Questions?

720
00:30:36,520 --> 00:30:37,360
Comments?

721
00:30:37,360 --> 00:30:38,180
Questions?

722
00:30:40,720 --> 00:30:42,480
What you think about Nick's haircut?

723
00:30:42,480 --> 00:30:43,320
You like it?

724
00:30:43,320 --> 00:30:44,160
I just got it cut.

725
00:30:44,160 --> 00:30:45,840
I've never had that long hair before.

726
00:30:45,840 --> 00:30:46,920
You shaved it all off?

727
00:30:46,920 --> 00:30:47,760
Couple days ago.

728
00:30:47,760 --> 00:30:49,160
Looking good, looking good.

729
00:30:49,160 --> 00:30:50,000
Yeah, I don't like it.

730
00:30:50,000 --> 00:30:51,680
I love that shirt.

731
00:30:51,680 --> 00:30:53,040
That's an incredible looking shirt.

732
00:30:53,040 --> 00:30:54,360
I don't know where I got this, but.

733
00:30:54,360 --> 00:30:55,200
Yeah, that's alright.

734
00:30:55,200 --> 00:30:56,040
That's alright.

735
00:30:56,040 --> 00:30:57,440
Kinda just sporting it.

736
00:30:57,440 --> 00:31:00,200
Found it at the bottom of my 30-year-old laundry hamper.

737
00:31:02,320 --> 00:31:05,440
If you live in the Nashville area,

738
00:31:06,960 --> 00:31:09,160
I live in Middlesville, Tennessee.

739
00:31:10,200 --> 00:31:12,760
My office is in Middlesville, Tennessee.

740
00:31:12,760 --> 00:31:14,680
And I'm wanting to see if we have an interest

741
00:31:14,680 --> 00:31:17,000
for people out there in this local area

742
00:31:17,000 --> 00:31:20,360
that would want to do a bi-weekly or monthly,

743
00:31:20,360 --> 00:31:23,320
let's say monthly, let's say a monthly meetup.

744
00:31:23,320 --> 00:31:24,160
How many people?

745
00:31:24,160 --> 00:31:27,520
If you are interested in doing a monthly meetup,

746
00:31:29,360 --> 00:31:30,440
what do you need to write to that?

747
00:31:30,440 --> 00:31:31,880
Just in the comments on this video?

748
00:31:31,880 --> 00:31:32,720
Definitely, yeah.

749
00:31:32,720 --> 00:31:35,800
Say I would go to the meetup in the comments section

750
00:31:35,800 --> 00:31:39,120
and we'll count how many kind of people.

751
00:31:39,120 --> 00:31:40,560
Yeah, I mean, if we can get enough people

752
00:31:40,560 --> 00:31:42,960
who want to do that, I will sponsor that at my office

753
00:31:42,960 --> 00:31:44,520
every month.

754
00:31:44,520 --> 00:31:47,400
And that way we're not paying for a building or anything.

755
00:31:47,400 --> 00:31:49,400
It's easy to get to, it's easy to do it.

756
00:31:49,400 --> 00:31:51,680
But we'll come in and we'll do a meetup

757
00:31:51,680 --> 00:31:53,320
and we'll talk about real estate stuff

758
00:31:53,320 --> 00:31:54,560
and we'll talk about investing

759
00:31:54,560 --> 00:31:55,680
and we'll talk about building

760
00:31:55,680 --> 00:31:57,120
and we'll talk about land development

761
00:31:57,120 --> 00:31:58,880
and whatever else anybody else wants to talk about.

762
00:31:58,880 --> 00:32:01,200
We can bring in different people to speak

763
00:32:01,200 --> 00:32:02,440
and talk about different issues.

764
00:32:02,440 --> 00:32:04,760
And I think that that could be a good thing,

765
00:32:04,760 --> 00:32:06,960
but that might not be a bad idea.

766
00:32:06,960 --> 00:32:09,360
And I mean, like you're saying,

767
00:32:09,360 --> 00:32:12,120
you're trying to get 34,000 from your grandfather

768
00:32:12,120 --> 00:32:14,560
or somebody that trusts you or whatever

769
00:32:14,560 --> 00:32:17,840
and then having a monthly meetup

770
00:32:17,840 --> 00:32:19,800
of local people around here,

771
00:32:21,360 --> 00:32:23,840
I feel like I would probably be able to meet somebody

772
00:32:23,840 --> 00:32:25,240
that does want to invest.

773
00:32:25,240 --> 00:32:26,880
So if you're an investor out there

774
00:32:26,880 --> 00:32:28,160
and you would be interested in something like this,

775
00:32:28,160 --> 00:32:29,840
let us know that also.

776
00:32:29,840 --> 00:32:33,360
And we can publicly run numbers on deals and stuff

777
00:32:33,360 --> 00:32:38,360
and say, hey, Jim wants to partner with Nick on this job.

778
00:32:38,360 --> 00:32:41,040
Is this a good partnership for him?

779
00:32:41,040 --> 00:32:43,320
And we run numbers and we run those numbers so much

780
00:32:43,320 --> 00:32:46,320
that Jim knows that the deal is a great deal

781
00:32:46,320 --> 00:32:50,920
and that he has basically zero potential to lose his money.

782
00:32:50,920 --> 00:32:52,560
And that is what the deal is I'm looking for.

783
00:32:52,560 --> 00:32:53,400
I'm looking for a deal

784
00:32:53,400 --> 00:32:55,400
that there's no chance of me losing money.

785
00:32:57,680 --> 00:33:00,080
And I look at this house right here

786
00:33:00,080 --> 00:33:03,240
as there's no chance I can move the money with it.

787
00:33:03,240 --> 00:33:05,160
I mean, it's a good buy, it's a good deal,

788
00:33:05,160 --> 00:33:07,200
it's in a great area, it's on a great road,

789
00:33:07,200 --> 00:33:10,000
a lot of traffic, it will rent.

790
00:33:10,000 --> 00:33:13,560
I own houses next to it that I rent for $2,000 a month,

791
00:33:13,560 --> 00:33:15,320
same size houses.

792
00:33:15,320 --> 00:33:18,120
So I know for a fact I'll get a minimum of 1800 a month.

793
00:33:22,320 --> 00:33:24,680
And then it's always just gonna kind of increase

794
00:33:24,680 --> 00:33:25,800
with the appreciation.

795
00:33:25,800 --> 00:33:27,640
8% interest, so we talked about giving grandpa

796
00:33:27,640 --> 00:33:28,960
8% interest, right?

797
00:33:28,960 --> 00:33:30,880
So let's say we give grandpa 8% interest.

798
00:33:30,880 --> 00:33:33,640
At 8% interest, we already know

799
00:33:33,640 --> 00:33:38,560
that $170,000 property will probably yield

800
00:33:38,560 --> 00:33:41,520
a couple of hundred dollars a month positive cash flow

801
00:33:41,520 --> 00:33:43,440
if it's in great shape.

802
00:33:43,440 --> 00:33:46,200
So we know at 8% we can pay 8%.

803
00:33:46,200 --> 00:33:48,440
And now if interest rates drop 1% or half a percent

804
00:33:48,440 --> 00:33:50,720
or whatever, you know it's gonna be a little bit better.

805
00:33:50,720 --> 00:33:52,880
Let's say interest rates drop to 5%,

806
00:33:52,880 --> 00:33:56,800
cash out, refi, pay off grandpa, now it's all done.

807
00:33:56,800 --> 00:34:04,640
You own the whole house and you know it's the same.

808
00:34:04,640 --> 00:34:07,960
Don't make life more difficult than what life is.

809
00:34:07,960 --> 00:34:10,480
Simplify it, go down to the basic steps

810
00:34:10,480 --> 00:34:13,360
of how you wanna do things and how you think things should roll

811
00:34:13,360 --> 00:34:15,960
and do it through the basic steps.

812
00:34:15,960 --> 00:34:20,280
Rinse and repeat, rinse, repeat, rinse, repeat.

813
00:34:20,280 --> 00:34:23,360
We do not have to reinvent the wheel.

814
00:34:23,360 --> 00:34:25,600
Now if hydroponics is something that Nick wants to do

815
00:34:25,600 --> 00:34:28,640
because Nick has a passion for something like that,

816
00:34:28,640 --> 00:34:30,320
then that's fine.

817
00:34:30,320 --> 00:34:33,720
But if Nick is looking for this to build his portfolio,

818
00:34:33,720 --> 00:34:36,800
I would skip that, I would go straight to this.

819
00:34:36,800 --> 00:34:39,240
But if Nick wants to do that, then do that

820
00:34:39,240 --> 00:34:41,160
and find a way to do both of them at the same time

821
00:34:41,160 --> 00:34:43,200
and maybe they can actually offset

822
00:34:43,200 --> 00:34:45,760
and help each other at the same time too.

823
00:34:45,760 --> 00:34:47,320
Maybe the houses help this part.

824
00:34:47,320 --> 00:34:49,880
Or this is just a hobby that ends up actually

825
00:34:49,880 --> 00:34:51,120
at a slight profit.

826
00:34:51,120 --> 00:34:56,120
I mean, but there is no right or wrong,

827
00:34:58,080 --> 00:35:00,080
well there's a lot of right answers.

828
00:35:00,080 --> 00:35:01,960
There's not a lot of wrong answers out there.

829
00:35:01,960 --> 00:35:05,000
I mean, get your goal set, get what you wanna do,

830
00:35:05,000 --> 00:35:08,080
understand it and just do it.

831
00:35:08,080 --> 00:35:10,600
The worst thing you can ever do is sit on your behind

832
00:35:10,600 --> 00:35:12,800
and a year later you still don't have

833
00:35:12,800 --> 00:35:14,080
a single piece of property.

834
00:35:14,080 --> 00:35:15,720
That's not good.

835
00:35:15,720 --> 00:35:18,040
I can't tell you how many people I've talked to

836
00:35:18,040 --> 00:35:21,800
for more than 10 to 20 years

837
00:35:21,800 --> 00:35:23,120
that have told me for 20 years

838
00:35:23,120 --> 00:35:24,600
they wanna get in real estate.

839
00:35:24,600 --> 00:35:27,520
But for 20 years they have still never bought

840
00:35:27,520 --> 00:35:30,640
even one property outside of their personal residence.

841
00:35:30,640 --> 00:35:31,480
Yeah, that's a long time.

842
00:35:31,480 --> 00:35:34,920
So how do you fix that?

843
00:35:34,920 --> 00:35:39,440
You can't fix it because they are not willing to sacrifice.

844
00:35:39,440 --> 00:35:41,720
The juice is not worth the squeeze.

845
00:35:41,720 --> 00:35:43,120
The time they gotta put into it

846
00:35:43,120 --> 00:35:44,440
for the money they get out of it,

847
00:35:44,440 --> 00:35:47,000
they do not feel like it's worth it.

848
00:35:47,000 --> 00:35:48,760
Why else would somebody not do it?

849
00:35:52,400 --> 00:35:53,960
There is a lot of work to it

850
00:35:53,960 --> 00:35:56,320
and they might not have the complete knowledge

851
00:35:56,320 --> 00:35:58,920
or the right property management

852
00:35:58,920 --> 00:36:02,240
and there's a lot of stress to it.

853
00:36:02,240 --> 00:36:05,000
So you do $170,000 house,

854
00:36:05,000 --> 00:36:06,680
rent it out for $1,800 a month

855
00:36:06,680 --> 00:36:17,200
and let's say you're making 8% year one.

856
00:36:17,200 --> 00:36:19,960
What you're making on year number five?

857
00:36:19,960 --> 00:36:23,200
Still making 8%?

858
00:36:23,200 --> 00:36:27,160
On year number five, we should be able to,

859
00:36:27,160 --> 00:36:28,960
hopefully we could cash out refi

860
00:36:28,960 --> 00:36:31,440
and that would go up a lot.

861
00:36:31,440 --> 00:36:35,040
So you're making 8% compounded.

862
00:36:35,040 --> 00:36:36,800
Well, you're making the 8%.

863
00:36:36,800 --> 00:36:38,920
So let's say...

864
00:36:38,920 --> 00:36:40,480
So you're still making 8%.

865
00:36:40,480 --> 00:36:42,200
No, no, no, no.

866
00:36:42,200 --> 00:36:44,480
So you're making the 8% but let's...

867
00:36:44,480 --> 00:36:45,480
I ain't gonna raise anything.

868
00:36:45,480 --> 00:36:50,480
So let's say you're making on $170,000 house,

869
00:36:53,000 --> 00:36:56,960
8% will probably be about $1,700 a month.

870
00:36:56,960 --> 00:36:59,680
That's what our typical calculations have done.

871
00:36:59,680 --> 00:37:01,160
If we're making 1%,

872
00:37:01,160 --> 00:37:05,200
then it'll cover the 8% barely,

873
00:37:05,200 --> 00:37:08,280
maybe $100 extra a month or so, right?

874
00:37:08,280 --> 00:37:10,440
So if we were only getting 1,700,

875
00:37:12,120 --> 00:37:15,440
is 8%, what are we getting on year number two?

876
00:37:16,720 --> 00:37:20,920
Rent's lag construction, right?

877
00:37:20,920 --> 00:37:23,320
Rent's lag appreciation.

878
00:37:23,320 --> 00:37:25,920
So rent's lag appreciation.

879
00:37:25,920 --> 00:37:30,840
So we go back and we say, okay, we got 1,700

880
00:37:30,840 --> 00:37:35,600
and then the next year we're gonna increase that by 5%.

881
00:37:35,600 --> 00:37:37,000
That's $85.

882
00:37:37,000 --> 00:37:38,880
So now we're at $1,785.

883
00:37:41,880 --> 00:37:43,640
Then we take that $1,785

884
00:37:45,440 --> 00:37:48,560
times another 5%.

885
00:37:48,560 --> 00:37:50,480
That's gonna put us at $1,959.

886
00:37:52,800 --> 00:37:55,600
Then we take that $1,959.

887
00:37:55,600 --> 00:37:58,040
This is the end of year number one,

888
00:37:58,040 --> 00:38:00,960
we'll move on to year number two of on it, year number three.

889
00:38:04,720 --> 00:38:05,560
I'm sorry.

890
00:38:12,320 --> 00:38:13,920
That's gonna be 2115.

891
00:38:16,800 --> 00:38:18,080
So just in that amount of time,

892
00:38:18,080 --> 00:38:22,640
we've increased our cash flow from 1,700 to 2,100.

893
00:38:25,080 --> 00:38:26,920
That's what, 300 bucks?

894
00:38:26,920 --> 00:38:28,640
400 bucks.

895
00:38:28,640 --> 00:38:29,480
So at least 300 bucks.

896
00:38:29,480 --> 00:38:33,200
So let's just say, 317, 18, 19, 20, 21.

897
00:38:33,200 --> 00:38:34,040
Yeah.

898
00:38:34,040 --> 00:38:35,560
300 bucks, 400 bucks.

899
00:38:35,560 --> 00:38:38,320
17, 18, 19, 20, 20, 400 bucks.

900
00:38:38,320 --> 00:38:40,160
So we've increased it 400 bucks.

901
00:38:41,080 --> 00:38:45,760
So now, if we look at that, that's 400 times 12.

902
00:38:50,800 --> 00:38:53,520
We've increased our cash flow $4,800 that year.

903
00:38:53,520 --> 00:38:58,520
So if we said we were making 8% off of that,

904
00:38:58,960 --> 00:39:02,960
I would guarantee that number's gonna be closer to 13%

905
00:39:02,960 --> 00:39:04,640
at that particular point in time.

906
00:39:05,680 --> 00:39:09,480
Because once you equate that 5% compounding on the rent,

907
00:39:09,480 --> 00:39:10,320
that compounds.

908
00:39:10,320 --> 00:39:14,320
Your normal, the 8% is still off of your investment.

909
00:39:14,320 --> 00:39:19,320
So the 8% right here is return on investment.

910
00:39:19,320 --> 00:39:23,680
From here on out, as we get appreciation and everything,

911
00:39:23,680 --> 00:39:28,160
now we're getting return on equity, right?

912
00:39:28,160 --> 00:39:30,200
Right, because the asset itself is growing

913
00:39:30,200 --> 00:39:31,040
and that is equity.

914
00:39:31,040 --> 00:39:34,360
Now we can still look at it and run a number return

915
00:39:34,360 --> 00:39:36,240
on what our investment was,

916
00:39:36,240 --> 00:39:39,320
but our equity in that property, the time in that property,

917
00:39:40,720 --> 00:39:43,800
it's not time on the market, it's time in the market, right?

918
00:39:43,800 --> 00:39:47,520
It's not time that it takes to buy that property,

919
00:39:47,520 --> 00:39:51,160
it's the time you stay into that property and the compounds.

920
00:39:53,000 --> 00:39:55,560
At 8%, how long does it take to double your money?

921
00:39:58,520 --> 00:40:03,520
That sounds like a good five year.

922
00:40:03,800 --> 00:40:05,640
Nine years. Nine years.

923
00:40:05,640 --> 00:40:08,800
So at 5%, oh, that was at 5%, right?

924
00:40:08,800 --> 00:40:09,640
Was that at 5%?

925
00:40:09,640 --> 00:40:11,280
It's like 7% was like a.

926
00:40:11,280 --> 00:40:12,120
Hold on.

927
00:40:13,960 --> 00:40:15,520
No, at 8%.

928
00:40:15,520 --> 00:40:17,160
You double your money.

929
00:40:17,160 --> 00:40:20,160
You double your, I don't know what's going on with my phone.

930
00:40:22,160 --> 00:40:26,600
72 divided by eight is nine years, so every nine years.

931
00:40:26,600 --> 00:40:30,240
So at 8%, you double your investment every nine years.

932
00:40:30,240 --> 00:40:32,600
So the property value becomes double.

933
00:40:33,840 --> 00:40:37,320
Now, are you gonna be able to achieve the same 8% or,

934
00:40:40,200 --> 00:40:41,040
that number's gonna go up,

935
00:40:41,040 --> 00:40:42,680
but are you gonna achieve the same thing?

936
00:40:42,680 --> 00:40:44,960
You're gonna probably double your investment

937
00:40:44,960 --> 00:40:48,480
or probably double your money or double the rents

938
00:40:51,680 --> 00:40:56,680
every 12 years or so,

939
00:40:58,480 --> 00:41:01,280
because they're gonna double at a little smaller rate.

940
00:41:01,280 --> 00:41:05,000
Now you may, I mean, because we had a couple of years ago,

941
00:41:05,000 --> 00:41:06,280
rents were going up 12%.

942
00:41:06,280 --> 00:41:08,440
You had people going up 12 and 15% on their rents

943
00:41:08,440 --> 00:41:09,520
to catch up.

944
00:41:09,520 --> 00:41:13,120
So it should be the same as the 8%

945
00:41:13,120 --> 00:41:15,160
if that's what the appreciation is,

946
00:41:15,160 --> 00:41:18,200
but it may fluctuate a little bit.

947
00:41:18,200 --> 00:41:22,000
But either way, it goes up year after year after year.

948
00:41:23,360 --> 00:41:25,760
This is your money making you money.

949
00:41:32,440 --> 00:41:34,480
Let us know what you think in the comments.

950
00:41:35,600 --> 00:41:36,920
Let's go look at his form house.

951
00:41:36,920 --> 00:41:38,360
Okay.

952
00:41:38,360 --> 00:41:39,520
You look confused.

953
00:41:39,520 --> 00:41:41,560
No, I'm not confused at all.

954
00:41:41,560 --> 00:41:44,600
Like I really do get it.

955
00:41:46,200 --> 00:41:49,400
So what's your impression about what we started with?

956
00:41:49,400 --> 00:41:50,240
What do you mean?

957
00:41:50,240 --> 00:41:51,240
Everything's the same.

958
00:41:52,320 --> 00:41:53,880
You mindset change any?

959
00:41:53,880 --> 00:41:58,560
Well, so like I was kind of hinting at,

960
00:41:58,560 --> 00:42:00,520
maybe this is just a hobby.

961
00:42:02,840 --> 00:42:04,160
But it doesn't mean you can't do it.

962
00:42:04,160 --> 00:42:05,360
Right, right.

963
00:42:05,360 --> 00:42:12,360
And I guess, I really just need to get good at finding

964
00:42:13,040 --> 00:42:18,040
a entrance level deal and then trying to find somebody

965
00:42:19,840 --> 00:42:22,160
that wants to partner with me on it

966
00:42:22,160 --> 00:42:24,680
and is willing to let me cash out refi

967
00:42:24,680 --> 00:42:27,680
and maybe five years, pay them back.

968
00:42:27,680 --> 00:42:29,640
If that's how I end up paying them back.

969
00:42:29,640 --> 00:42:34,560
I could probably just immediately through the cashflow,

970
00:42:34,560 --> 00:42:37,160
immediately pay them back slowly but surely on the 30s.

971
00:42:37,160 --> 00:42:39,560
How hard is it to get people to understand this?

972
00:42:41,160 --> 00:42:45,280
For somebody that's never seen it before,

973
00:42:45,280 --> 00:42:48,000
and people with 34K that want to invest

974
00:42:48,000 --> 00:42:52,640
but have never even thought about real estate possibly,

975
00:42:52,640 --> 00:42:55,440
it could be pretty difficult to explain.

976
00:42:55,440 --> 00:42:58,120
I have a friend of mine

977
00:42:58,120 --> 00:43:03,120
who has a real estate agent and she has at least

978
00:43:03,120 --> 00:43:05,080
600,000 equity in her home.

979
00:43:07,840 --> 00:43:12,840
And she makes good money, but she spends all of her money.

980
00:43:17,360 --> 00:43:19,040
So you look at the future and what's gonna come

981
00:43:19,040 --> 00:43:20,560
in the future when you don't make as good a money

982
00:43:20,560 --> 00:43:22,280
as you're making right now, what happens?

983
00:43:22,280 --> 00:43:24,240
What happens when people make a great paycheck

984
00:43:24,240 --> 00:43:25,440
and then they retire?

985
00:43:25,440 --> 00:43:30,440
Now they drop from maybe five to $10,000 a month

986
00:43:31,280 --> 00:43:35,840
in income to $200 a month and that's all you're gonna get

987
00:43:35,840 --> 00:43:37,280
the rest of your life.

988
00:43:37,280 --> 00:43:40,280
Maybe a little bump here or there, but that's it.

989
00:43:40,280 --> 00:43:43,440
They have to make an extreme lifestyle change

990
00:43:43,440 --> 00:43:45,120
to survive in that market, right?

991
00:43:45,120 --> 00:43:46,360
Yeah.

992
00:43:46,360 --> 00:43:47,880
Is that what you really want?

993
00:43:47,880 --> 00:43:48,880
No, not at all.

994
00:43:48,880 --> 00:43:52,200
Because all of us that work for somebody else or work,

995
00:43:52,200 --> 00:43:53,880
all of us are gonna eventually make a change and say,

996
00:43:53,880 --> 00:43:56,080
you know what, I'm 60 years old, I'm 70 years old,

997
00:43:56,080 --> 00:43:58,920
I can't work like I used to, I just don't want to.

998
00:43:58,920 --> 00:44:02,360
And you figure, I'll live on a lot less

999
00:44:02,360 --> 00:44:03,840
than what I used to live on.

1000
00:44:03,840 --> 00:44:05,720
That's all I'm gonna do.

1001
00:44:05,720 --> 00:44:07,920
And that is fine.

1002
00:44:09,200 --> 00:44:11,800
But this young lady that I'm talking about

1003
00:44:11,800 --> 00:44:14,600
that has a 600,000 equity in her house,

1004
00:44:14,600 --> 00:44:16,760
I told her, I said, pull the equity out

1005
00:44:16,760 --> 00:44:18,480
to build another house.

1006
00:44:18,480 --> 00:44:20,880
I will build the house for you for free.

1007
00:44:20,880 --> 00:44:22,520
Just pull it out.

1008
00:44:23,960 --> 00:44:25,560
If you want to partner with me on a deal,

1009
00:44:25,560 --> 00:44:28,000
we will partner on another piece of land that I own

1010
00:44:28,000 --> 00:44:31,240
and we will build the deal and I will do it all.

1011
00:44:31,240 --> 00:44:33,120
You put your money into it.

1012
00:44:33,120 --> 00:44:35,280
When we finish the house, we'll do a cash out refi,

1013
00:44:35,280 --> 00:44:37,120
pay you off 100% of your money.

1014
00:44:37,120 --> 00:44:39,120
You have nothing left in that deal.

1015
00:44:39,120 --> 00:44:41,320
No money at all, but you're still making money.

1016
00:44:44,960 --> 00:44:46,760
But we've talked about that forever.

1017
00:44:47,680 --> 00:44:49,000
And it's never happened.

1018
00:44:49,000 --> 00:44:49,840
Yeah.

1019
00:44:49,840 --> 00:44:50,680
Really?

1020
00:44:51,880 --> 00:44:54,560
It hasn't happened because she's still very comfortable

1021
00:44:54,560 --> 00:44:55,560
in her environment.

1022
00:44:56,960 --> 00:45:00,040
She has not hit a point in her environment yet that says,

1023
00:45:01,760 --> 00:45:05,760
oh hell, what am I gonna do about this?

1024
00:45:07,160 --> 00:45:10,120
And typically when you get that oh hell moment

1025
00:45:10,120 --> 00:45:12,680
and you're trying to figure it out, it's too late.

1026
00:45:13,960 --> 00:45:15,560
It's too late.

1027
00:45:15,560 --> 00:45:16,840
And it's too late why?

1028
00:45:16,840 --> 00:45:21,840
It's too late, why, because time in this housing market

1029
00:45:21,880 --> 00:45:25,720
is so much more valuable than the time on this housing market.

1030
00:45:27,440 --> 00:45:30,600
You gotta get in it and you gotta let that money compound.

1031
00:45:34,080 --> 00:45:35,480
We've talked about it long enough,

1032
00:45:35,480 --> 00:45:36,760
her and I have talked about this long enough

1033
00:45:36,760 --> 00:45:39,200
that she would have already doubled

1034
00:45:39,200 --> 00:45:41,280
that $170,000 worth of money.

1035
00:45:41,280 --> 00:45:43,160
But yes, she still has not done it.

1036
00:45:45,360 --> 00:45:47,520
How many of you out there own that same fence?

1037
00:45:48,880 --> 00:45:51,360
You wanna do it, you watch these videos.

1038
00:45:51,360 --> 00:45:54,800
I used to go to classes with people for years.

1039
00:45:54,800 --> 00:45:57,320
And every single year, or every single month,

1040
00:45:57,320 --> 00:45:58,440
we would end up at a class.

1041
00:45:58,440 --> 00:45:59,800
And when I'm talking about a class,

1042
00:45:59,800 --> 00:46:01,680
we would fly to Texas, we would fly to Seattle,

1043
00:46:01,680 --> 00:46:04,000
we would fly to Arizona, we would fly somewhere else,

1044
00:46:04,000 --> 00:46:05,320
a different state.

1045
00:46:05,320 --> 00:46:08,560
We would spend $400 a night in a class.

1046
00:46:08,560 --> 00:46:12,240
We would spend $400 a night in hotels,

1047
00:46:12,240 --> 00:46:13,480
because they all was at nice hotels.

1048
00:46:13,480 --> 00:46:15,000
We would pay for the event,

1049
00:46:15,000 --> 00:46:17,200
and we would pay for everything else, food.

1050
00:46:18,880 --> 00:46:23,880
I went and had two glasses of wine last night with my wife.

1051
00:46:24,680 --> 00:46:26,840
And those two glasses of wine with my wife

1052
00:46:26,840 --> 00:46:30,880
was over $100 for two glasses of wine.

1053
00:46:30,880 --> 00:46:32,800
Dang, $50 each of glasses of wine.

1054
00:46:32,800 --> 00:46:35,760
For a glass of wine, a glass of wine.

1055
00:46:35,760 --> 00:46:40,760
So, that's a great mindset.

1056
00:46:44,000 --> 00:46:46,240
And I can go pay $100 for a glass of wine,

1057
00:46:46,240 --> 00:46:48,800
because my rent pays for that glass of wine,

1058
00:46:48,800 --> 00:46:50,320
I'm not even paying for it.

1059
00:46:50,320 --> 00:46:51,720
I make my rental income, it pays for it.

1060
00:46:51,720 --> 00:46:54,240
I make no money outside of rental income.

1061
00:46:54,240 --> 00:46:56,320
But my assets are making me money.

1062
00:46:57,200 --> 00:47:00,400
So if things are that expensive and going up that much,

1063
00:47:00,400 --> 00:47:05,400
how do we fix that?

1064
00:47:07,280 --> 00:47:08,840
We fix that by realizing,

1065
00:47:10,160 --> 00:47:13,360
maybe I don't need that $100 glass of wine right now.

1066
00:47:13,360 --> 00:47:14,320
Or two glasses of wine.

1067
00:47:14,320 --> 00:47:16,880
Maybe what I need to do right now is invest some money,

1068
00:47:16,880 --> 00:47:18,880
and make that money make me money.

1069
00:47:18,880 --> 00:47:21,480
And then I'm gonna enjoy that glass of wine.

1070
00:47:21,480 --> 00:47:24,560
Maybe I don't need that brand new Corvette right now.

1071
00:47:25,640 --> 00:47:27,560
Maybe I need to live in a world

1072
00:47:27,560 --> 00:47:29,160
where I drive my old beat up pickup truck

1073
00:47:29,160 --> 00:47:30,840
for a little bit longer,

1074
00:47:30,840 --> 00:47:35,840
and let my money pay for that new Corvette.

1075
00:47:36,120 --> 00:47:38,960
Robert Kiyosaki's book, Rich Dad, Poor Dad,

1076
00:47:38,960 --> 00:47:41,080
great book to read, it'll explain that concept in it

1077
00:47:41,080 --> 00:47:43,120
on how you take your assets and let your assets pay

1078
00:47:43,120 --> 00:47:45,080
for your pleasures in life.

1079
00:47:48,120 --> 00:47:50,360
So I need to find somebody that's willing to give me

1080
00:47:50,360 --> 00:47:55,360
about 34 to $50,000 of down payment money

1081
00:47:55,360 --> 00:48:00,360
at a 8% rate of payback.

1082
00:48:01,600 --> 00:48:05,000
So I have never invested with people before,

1083
00:48:05,000 --> 00:48:07,840
so it's kind of hard for me to talk about this.

1084
00:48:07,840 --> 00:48:12,040
But I have a lot of friends that have invested with people.

1085
00:48:12,920 --> 00:48:14,000
A lot of friends.

1086
00:48:14,000 --> 00:48:17,040
Most of my friends have invested with other people.

1087
00:48:17,040 --> 00:48:19,080
And most of the people we deal with in real estate

1088
00:48:19,080 --> 00:48:21,440
have invested with other people.

1089
00:48:21,440 --> 00:48:22,720
I'm just saying I haven't.

1090
00:48:22,720 --> 00:48:26,320
But I can tell you that without exception,

1091
00:48:26,320 --> 00:48:30,560
not one person that I talk to about investing

1092
00:48:30,560 --> 00:48:32,680
in real estate ever says they're worried

1093
00:48:32,680 --> 00:48:34,440
about finding the money.

1094
00:48:34,440 --> 00:48:36,840
Everyone says if you have the deal,

1095
00:48:36,840 --> 00:48:38,440
the money will come to you.

1096
00:48:38,440 --> 00:48:41,720
It is easy to find the money once you have a good deal.

1097
00:48:42,680 --> 00:48:46,080
And if you go to any real estate seminars,

1098
00:48:46,080 --> 00:48:48,760
if you go to any real estate meetup groups,

1099
00:48:48,760 --> 00:48:52,840
if you go to your RIA that's in your state or your town,

1100
00:48:52,840 --> 00:48:55,000
your city, you go to those RIAs,

1101
00:48:55,000 --> 00:48:56,960
you will always have people that will tell you

1102
00:48:56,960 --> 00:48:59,240
the money is not your problem.

1103
00:48:59,240 --> 00:49:01,480
You are hung up on this money thing.

1104
00:49:01,480 --> 00:49:04,560
I am personally hung up on the money thing.

1105
00:49:04,560 --> 00:49:06,440
I don't have enough money to do this.

1106
00:49:07,440 --> 00:49:08,600
And we just talked, I just told you,

1107
00:49:08,600 --> 00:49:11,360
I can go grab money anytime I wanna grab money from people.

1108
00:49:11,360 --> 00:49:13,200
But I've been hesitant to do that.

1109
00:49:13,200 --> 00:49:15,320
I don't want to do that personally.

1110
00:49:15,320 --> 00:49:17,000
And that's why I haven't done it.

1111
00:49:17,000 --> 00:49:19,800
I don't have to do it at the moment.

1112
00:49:19,800 --> 00:49:22,080
So I just haven't done it.

1113
00:49:22,080 --> 00:49:24,520
But if you have to do it, then you have to do it

1114
00:49:24,520 --> 00:49:25,720
and you figure that out.

1115
00:49:26,680 --> 00:49:29,200
You find the deal, the money will come.

1116
00:49:31,880 --> 00:49:34,200
You find the deal, the money will come.

1117
00:49:35,840 --> 00:49:37,120
It will come.

1118
00:49:37,120 --> 00:49:41,280
If you go out and you look at wholesale sites on Facebook,

1119
00:49:41,280 --> 00:49:44,600
you ever look at wholesale sites, lease option sites?

1120
00:49:44,600 --> 00:49:47,320
So you can go on Facebook and they have pages

1121
00:49:47,320 --> 00:49:50,200
that are dedicated to people that do wholesale deals.

1122
00:49:50,200 --> 00:49:51,640
They have pages that are available

1123
00:49:51,640 --> 00:49:54,120
to people that do lease options.

1124
00:49:54,120 --> 00:49:56,440
And as you're looking through that,

1125
00:49:56,440 --> 00:49:59,640
there are always comments on different people's posts.

1126
00:49:59,640 --> 00:50:00,720
Do you need money?

1127
00:50:00,720 --> 00:50:01,600
Do you need money?

1128
00:50:01,600 --> 00:50:02,560
Do you need money?

1129
00:50:02,560 --> 00:50:04,240
I'm looking for a deal to partner with somebody.

1130
00:50:04,240 --> 00:50:07,000
I'm not looking for a deal to do on my own.

1131
00:50:07,000 --> 00:50:08,920
There are a lot of people out there.

1132
00:50:10,120 --> 00:50:12,880
And you can find those on different Facebook groups.

1133
00:50:12,880 --> 00:50:15,480
You can find people that are looking for money.

1134
00:50:15,480 --> 00:50:17,840
Looking for money or looking for a project?

1135
00:50:17,840 --> 00:50:19,040
Well, you'll find people that are looking for money

1136
00:50:19,040 --> 00:50:20,000
and you'll find people that are looking

1137
00:50:20,000 --> 00:50:21,440
for a project to invest in.

1138
00:50:21,440 --> 00:50:25,800
Yeah, and I need somebody that wants to partner on that.

1139
00:50:25,800 --> 00:50:27,400
Hey, if y'all would, write something in the comments

1140
00:50:27,400 --> 00:50:29,000
on that if you've seen some people out there

1141
00:50:29,000 --> 00:50:30,600
that have money and they're really just looking

1142
00:50:30,600 --> 00:50:33,440
for somebody that's got a good deal that they can invest in.

1143
00:50:33,440 --> 00:50:34,280
They're there.

1144
00:50:35,840 --> 00:50:40,840
How would I get that deal in a sense?

1145
00:50:40,840 --> 00:50:45,120
In a sense, it's like, just find it on Zillow.

1146
00:50:45,120 --> 00:50:48,040
Find it on the...

1147
00:50:48,040 --> 00:50:50,000
So let me ask you a question.

1148
00:50:50,000 --> 00:50:52,640
You and I have been doing this for a year

1149
00:50:54,200 --> 00:50:57,360
and nine months now, right?

1150
00:50:57,360 --> 00:50:58,200
Mm-hmm.

1151
00:50:58,200 --> 00:51:00,880
So how much time do you spend right now

1152
00:51:00,880 --> 00:51:02,800
looking for a deal a week?

1153
00:51:04,000 --> 00:51:06,040
Not really much.

1154
00:51:06,040 --> 00:51:07,120
So how are you gonna find a deal

1155
00:51:07,120 --> 00:51:09,440
if you don't spend any time looking for a deal?

1156
00:51:09,440 --> 00:51:10,680
I used to spend six hours a day.

1157
00:51:10,680 --> 00:51:13,840
It's just because I decided for now,

1158
00:51:13,840 --> 00:51:15,600
that's not what I'm trying to do right now.

1159
00:51:15,600 --> 00:51:18,160
I used to spend six hours a day looking for deals.

1160
00:51:19,040 --> 00:51:22,360
I was on Zillow all the time, I was on Redfin,

1161
00:51:22,360 --> 00:51:24,560
I was on every site out there looking at stuff.

1162
00:51:24,560 --> 00:51:26,120
I was looking at stuff on Facebook,

1163
00:51:26,120 --> 00:51:28,600
I was looking at articles from people

1164
00:51:28,600 --> 00:51:29,440
that they were writing.

1165
00:51:29,440 --> 00:51:30,720
I was looking for anything and everything

1166
00:51:30,720 --> 00:51:32,760
I could find to do that.

1167
00:51:32,760 --> 00:51:34,000
It's not a deal that's gonna come to you.

1168
00:51:34,000 --> 00:51:35,800
It's something you're gonna make happen.

1169
00:51:36,960 --> 00:51:39,080
Then you're gonna have to sacrifice time to make that happen.

1170
00:51:39,080 --> 00:51:41,120
Yeah, do I have to get it under a...

1171
00:51:41,120 --> 00:51:42,920
It's like me, I wanna learn Spanish.

1172
00:51:45,080 --> 00:51:48,040
I'm looking to plan a trip to Medellin, Columbia.

1173
00:51:48,040 --> 00:51:48,880
Nice.

1174
00:51:48,880 --> 00:51:51,840
And if I'm gonna go there, I wanna be able to speak

1175
00:51:51,840 --> 00:51:54,560
more Spanish than what I speak right now.

1176
00:51:54,560 --> 00:51:57,360
But yet, I have not invested any time

1177
00:51:57,360 --> 00:51:58,600
in learning more Spanish.

1178
00:52:00,120 --> 00:52:00,960
That's hard.

1179
00:52:00,960 --> 00:52:03,200
Is it because I can't learn Spanish?

1180
00:52:03,200 --> 00:52:04,040
No. No.

1181
00:52:04,040 --> 00:52:05,440
It's because I'm not willing to put in the time

1182
00:52:05,440 --> 00:52:06,280
to learn Spanish.

1183
00:52:06,280 --> 00:52:07,120
Same concept?

1184
00:52:07,120 --> 00:52:07,960
Right.

1185
00:52:07,960 --> 00:52:08,800
Kind of.

1186
00:52:08,800 --> 00:52:11,000
The thing is, I could search and search and search

1187
00:52:11,000 --> 00:52:12,320
and search and not find anything,

1188
00:52:12,320 --> 00:52:13,880
whereas you can study, study, study,

1189
00:52:13,880 --> 00:52:14,720
and you will find something.

1190
00:52:14,720 --> 00:52:16,160
Did y'all just hear Nick say he can search

1191
00:52:16,160 --> 00:52:17,560
and search and search and can't find...

1192
00:52:17,560 --> 00:52:20,160
I just had somebody give me this deal for free.

1193
00:52:20,160 --> 00:52:22,240
They called me up and said, hey, come to my house,

1194
00:52:22,240 --> 00:52:23,440
I wanna talk to you about this.

1195
00:52:23,440 --> 00:52:26,840
Right, but the thing is for the...

1196
00:52:26,840 --> 00:52:28,640
No, if you sit at home on your sofa,

1197
00:52:28,640 --> 00:52:30,440
you will never find it.

1198
00:52:30,440 --> 00:52:32,080
You have to go meet people.

1199
00:52:32,080 --> 00:52:34,680
How many of the Rio groups have you been to?

1200
00:52:34,680 --> 00:52:35,960
It's long shot.

1201
00:52:35,960 --> 00:52:36,800
It's not a long shot.

1202
00:52:36,800 --> 00:52:37,960
It is not a long shot.

1203
00:52:37,960 --> 00:52:38,800
Really?

1204
00:52:38,800 --> 00:52:39,640
No.

1205
00:52:39,640 --> 00:52:40,480
That's a hit.

1206
00:52:40,480 --> 00:52:41,800
But that's why people go to work

1207
00:52:41,800 --> 00:52:44,600
because they get paid for their time.

1208
00:52:44,600 --> 00:52:45,680
Whereas a lot of this is like...

1209
00:52:45,680 --> 00:52:46,520
It's easy.

1210
00:52:46,520 --> 00:52:47,360
No, no, no.

1211
00:52:47,360 --> 00:52:49,160
It's easy to go to work and stamp a clock

1212
00:52:49,160 --> 00:52:50,120
and get a check every week.

1213
00:52:50,120 --> 00:52:50,960
It's easy.

1214
00:52:50,960 --> 00:52:51,800
Yeah.

1215
00:52:51,800 --> 00:52:52,640
But then you get caught.

1216
00:52:52,640 --> 00:52:56,680
Why in the world did you quit working for AT&T?

1217
00:52:56,680 --> 00:52:57,840
Because it was annoying.

1218
00:52:57,840 --> 00:52:58,680
Yeah, it was annoying.

1219
00:52:58,680 --> 00:52:59,520
It was annoying.

1220
00:52:59,520 --> 00:53:00,360
It was annoying.

1221
00:53:00,360 --> 00:53:02,760
Because it was annoying.

1222
00:53:02,760 --> 00:53:05,240
Okay, but you were sick of punching that clock, right?

1223
00:53:05,240 --> 00:53:06,080
Yeah.

1224
00:53:06,080 --> 00:53:08,200
You were sick of punching a clock for money.

1225
00:53:08,200 --> 00:53:09,040
Yeah.

1226
00:53:09,040 --> 00:53:10,720
So all these people that are out there

1227
00:53:10,720 --> 00:53:12,680
punching a clock for money,

1228
00:53:12,680 --> 00:53:14,520
and they might make a million dollars a year

1229
00:53:14,520 --> 00:53:17,000
and they might make $20,000 a year.

1230
00:53:17,000 --> 00:53:18,680
I don't know what they're making.

1231
00:53:18,680 --> 00:53:20,080
But most people get irritated

1232
00:53:20,080 --> 00:53:23,080
punching that clock trying to make money.

1233
00:53:23,080 --> 00:53:26,720
But they're still not willing to do what it takes

1234
00:53:26,720 --> 00:53:29,760
to have to quit punching that clock and do that.

1235
00:53:29,760 --> 00:53:32,160
Now you took your first step on that.

1236
00:53:33,360 --> 00:53:35,960
You started doing your videography stuff that you do.

1237
00:53:35,960 --> 00:53:37,080
You picked up more clients.

1238
00:53:37,080 --> 00:53:38,400
You're doing that.

1239
00:53:38,400 --> 00:53:40,200
The next step is to figure it out

1240
00:53:40,200 --> 00:53:42,800
whether you're gonna follow a path

1241
00:53:42,800 --> 00:53:44,080
of buying another business

1242
00:53:44,080 --> 00:53:46,040
and you manage your own business at that point,

1243
00:53:46,040 --> 00:53:47,800
which you got a job at that point.

1244
00:53:47,800 --> 00:53:49,640
Or are you gonna go with the real estate part,

1245
00:53:49,640 --> 00:53:51,280
which you somewhat got a job

1246
00:53:51,280 --> 00:53:52,680
because it's not all passive income.

1247
00:53:52,680 --> 00:53:55,000
There's some active stuff that's gotta go in with it also.

1248
00:53:55,000 --> 00:53:57,680
There's none of this stuff that's,

1249
00:53:57,680 --> 00:53:59,320
I'm not gonna say none of it's completely passive,

1250
00:53:59,320 --> 00:54:00,880
but most of it isn't.

1251
00:54:00,880 --> 00:54:02,840
If you're going with something that is 100% passive,

1252
00:54:02,840 --> 00:54:06,240
let's say you go buy a dollar general at a six cap.

1253
00:54:06,240 --> 00:54:09,480
Okay, you're not making a lot of money at a six cap.

1254
00:54:09,480 --> 00:54:11,720
But they're gonna sign a 20 year lease with you

1255
00:54:11,720 --> 00:54:13,160
where they take care of 100% everything.

1256
00:54:13,160 --> 00:54:15,400
That money comes to your mailbox every single month

1257
00:54:15,400 --> 00:54:16,240
and the only thing you gotta do

1258
00:54:16,240 --> 00:54:18,200
is deposit that check in the bank.

1259
00:54:18,200 --> 00:54:20,000
There are those deals.

1260
00:54:20,000 --> 00:54:25,120
But I think that's probably where

1261
00:54:25,120 --> 00:54:26,480
I could be in my life right now.

1262
00:54:26,480 --> 00:54:28,120
I could sell all my properties off

1263
00:54:28,120 --> 00:54:29,640
that I have a lot of active time in

1264
00:54:29,640 --> 00:54:32,520
and I could go buy something like dollar generals

1265
00:54:32,520 --> 00:54:35,240
and stores like that that would give me a 20 year yield.

1266
00:54:35,240 --> 00:54:37,240
20 years from now I'll probably be dead.

1267
00:54:37,240 --> 00:54:40,680
So, you know, it covered me the rest of my life.

1268
00:54:40,680 --> 00:54:42,920
And my kids will still inherit the properties.

1269
00:54:44,280 --> 00:54:48,000
But what they're inheriting is not what I want.

1270
00:54:48,000 --> 00:54:48,840
Yeah.

1271
00:54:50,680 --> 00:54:52,760
Just think outside the box, think outside the box.

1272
00:54:52,760 --> 00:54:55,520
Listen to these videos more than one time.

1273
00:54:55,520 --> 00:54:59,080
There's so much truth in all of this right here.

1274
00:54:59,080 --> 00:55:00,560
And it is not easy.

1275
00:55:00,560 --> 00:55:01,400
This ain't easy.

1276
00:55:01,400 --> 00:55:03,120
If it was easy, you would have already done it, right?

1277
00:55:03,120 --> 00:55:04,640
You and I have talked about several properties.

1278
00:55:04,640 --> 00:55:05,480
We haven't looked at properties.

1279
00:55:05,480 --> 00:55:06,300
We've talked to people.

1280
00:55:06,300 --> 00:55:07,140
It's not easy.

1281
00:55:07,140 --> 00:55:08,640
And I haven't not.

1282
00:55:08,640 --> 00:55:10,320
But that's why people quit, right?

1283
00:55:10,320 --> 00:55:11,160
Yeah.

1284
00:55:11,160 --> 00:55:12,600
That's why the competition is so small

1285
00:55:12,600 --> 00:55:15,720
because it's too hard, too much time,

1286
00:55:15,720 --> 00:55:17,560
too much this, too much that for other people.

1287
00:55:17,560 --> 00:55:20,520
This is not some video of somebody out there telling you

1288
00:55:20,520 --> 00:55:23,320
real estate, you're gonna be millionaire in five weeks,

1289
00:55:23,320 --> 00:55:25,400
three years, 12 months.

1290
00:55:25,400 --> 00:55:26,240
I'm not telling you.

1291
00:55:26,240 --> 00:55:27,400
I'm gonna tell you, you're gonna get out there,

1292
00:55:27,400 --> 00:55:29,800
you're gonna work your ass off to achieve what you achieved.

1293
00:55:29,800 --> 00:55:32,320
The harder you work, the faster you achieve it.

1294
00:55:32,320 --> 00:55:35,600
If you're not willing to work, don't jump in this game

1295
00:55:35,600 --> 00:55:38,400
because it is not a game for weak.

1296
00:55:38,400 --> 00:55:40,000
It's a game for somebody that's got no strength

1297
00:55:40,000 --> 00:55:43,360
to get out there and bust ass until you don't have to.

1298
00:55:44,680 --> 00:55:46,760
And make that money make you money.

1299
00:55:50,920 --> 00:55:51,760
Yeah.

1300
00:55:51,760 --> 00:55:53,760
I guess I'm also just kind of annoyed

1301
00:55:53,760 --> 00:55:57,800
at how many fruitless nights in a row

1302
00:55:57,800 --> 00:56:02,800
that I've spent trying to do something of the sort.

1303
00:56:03,280 --> 00:56:05,160
So it kind of got annoying.

1304
00:56:05,160 --> 00:56:06,880
And then, you know, I still have bills,

1305
00:56:06,880 --> 00:56:09,560
so I just had to come up with different ways to make money.

1306
00:56:09,560 --> 00:56:12,200
So how many times do you fail before you quit?

1307
00:56:13,640 --> 00:56:14,480
Oh, I mean.

1308
00:56:14,480 --> 00:56:16,000
On a proven, on something that's proven.

1309
00:56:16,000 --> 00:56:18,880
It's whether you quit or get pushed out

1310
00:56:19,840 --> 00:56:22,400
in the sense that it didn't work

1311
00:56:22,400 --> 00:56:25,200
and you have bill to pay and you have to do this now.

1312
00:56:25,200 --> 00:56:27,440
Then you just get, you missed your.

1313
00:56:27,440 --> 00:56:30,200
But how many people have come to our real estate seminars

1314
00:56:31,480 --> 00:56:35,960
that have young people that have 10 properties and stuff

1315
00:56:35,960 --> 00:56:37,640
and they have all those properties,

1316
00:56:37,640 --> 00:56:39,040
they had to do it somehow.

1317
00:56:40,320 --> 00:56:41,160
Yeah, everybody is.

1318
00:56:41,160 --> 00:56:43,520
You may have a hundred failures, so what?

1319
00:56:43,520 --> 00:56:45,040
All you need is one success.

1320
00:56:46,360 --> 00:56:47,240
Yeah.

1321
00:56:47,240 --> 00:56:48,600
The failures don't matter.

1322
00:56:48,600 --> 00:56:49,440
One success.

1323
00:56:51,000 --> 00:56:52,080
One freaking time.

1324
00:56:52,080 --> 00:56:53,440
One freaking time, that's it.

1325
00:56:54,560 --> 00:56:57,200
But if you don't go out there and beat them doors,

1326
00:56:57,200 --> 00:56:58,400
you're not gonna find it.

1327
00:57:00,760 --> 00:57:01,600
It's there.

1328
00:57:02,480 --> 00:57:04,920
And I'm telling all of y'all in this video, it's there.

1329
00:57:07,280 --> 00:57:09,080
Nobody's gonna come knock on your door

1330
00:57:09,080 --> 00:57:10,840
and say you won't buy my house

1331
00:57:10,840 --> 00:57:13,440
unless people know that you buy houses.

1332
00:57:13,440 --> 00:57:14,520
Once they know you buy houses,

1333
00:57:14,520 --> 00:57:16,160
do you have a problem with that?

1334
00:57:16,160 --> 00:57:18,760
Once they know you buy houses, do you have a chance?

1335
00:57:18,760 --> 00:57:19,600
Yeah.

1336
00:57:19,600 --> 00:57:20,800
The more people that know you buy houses,

1337
00:57:20,800 --> 00:57:21,640
do you have more of a chance?

1338
00:57:21,640 --> 00:57:22,480
Yeah.

1339
00:57:23,440 --> 00:57:25,840
The more you get involved with your community,

1340
00:57:25,840 --> 00:57:28,200
the more you're gonna get opportunity from your community.

1341
00:57:28,200 --> 00:57:29,320
The more you get involved with your city,

1342
00:57:29,320 --> 00:57:31,880
the more opportunity you're gonna get with your city.

1343
00:57:31,880 --> 00:57:34,000
Because they always have stuff that's coming up.

1344
00:57:34,000 --> 00:57:35,240
If they know they have an investor

1345
00:57:35,240 --> 00:57:36,760
that's looking to buy a piece of property,

1346
00:57:36,760 --> 00:57:38,280
then they're gonna throw it at you.

1347
00:57:38,280 --> 00:57:41,240
Because they just wanna sell a piece of property.

1348
00:57:41,240 --> 00:57:42,480
I have people call me all the time,

1349
00:57:42,480 --> 00:57:44,040
do you wanna sell this piece of property?

1350
00:57:44,040 --> 00:57:45,040
No.

1351
00:57:45,040 --> 00:57:46,200
Do you wanna sell this piece of property?

1352
00:57:46,200 --> 00:57:47,040
No.

1353
00:57:48,320 --> 00:57:49,160
I asked somebody this morning,

1354
00:57:49,160 --> 00:57:50,000
you wanna sell this piece of property?

1355
00:57:50,000 --> 00:57:50,840
No.

1356
00:57:50,840 --> 00:57:53,440
You know, they still calling me though.

1357
00:57:56,120 --> 00:57:59,200
And eventually I'm gonna wanna sell that property.

1358
00:57:59,200 --> 00:58:00,040
And you know who's gonna get that property

1359
00:58:00,040 --> 00:58:01,480
and wanna sell it?

1360
00:58:01,480 --> 00:58:03,040
Whoever calls me next.

1361
00:58:05,160 --> 00:58:06,000
Yeah.

1362
00:58:06,000 --> 00:58:07,400
Because I'm not writing down none of the numbers

1363
00:58:07,400 --> 00:58:09,320
of the people that are calling me on my telephone.

1364
00:58:09,320 --> 00:58:11,640
I'm usually irritated and just hang up.

1365
00:58:11,640 --> 00:58:12,920
But when I'm ready to sell it,

1366
00:58:12,920 --> 00:58:14,240
I have people ask me to buy my company,

1367
00:58:14,240 --> 00:58:15,080
can I buy your company?

1368
00:58:15,080 --> 00:58:15,920
No.

1369
00:58:15,920 --> 00:58:16,740
Can I buy your company?

1370
00:58:16,740 --> 00:58:17,580
No.

1371
00:58:17,580 --> 00:58:18,420
Can I buy your company?

1372
00:58:18,420 --> 00:58:19,240
No.

1373
00:58:19,240 --> 00:58:22,800
One day, I'm driving to work and I'm pissed off.

1374
00:58:22,800 --> 00:58:24,640
And I say, I'm selling this company.

1375
00:58:26,080 --> 00:58:27,840
And I made one phone call.

1376
00:58:29,320 --> 00:58:31,840
And the next week I had three men in my house

1377
00:58:31,840 --> 00:58:35,520
from a different state discussing buying that property,

1378
00:58:35,520 --> 00:58:37,080
that building for me.

1379
00:58:37,080 --> 00:58:38,720
No, not the building, but the business.

1380
00:58:38,720 --> 00:58:39,560
Yeah.

1381
00:58:40,840 --> 00:58:42,200
And then once somebody else heard

1382
00:58:42,200 --> 00:58:43,080
that they were looking at it,

1383
00:58:43,080 --> 00:58:43,960
they called me.

1384
00:58:45,040 --> 00:58:45,880
You wanna sell your company?

1385
00:58:45,880 --> 00:58:46,720
I said, well, I already got so and so

1386
00:58:46,720 --> 00:58:48,000
looking at the company.

1387
00:58:48,000 --> 00:58:48,840
Well, we want it.

1388
00:58:49,760 --> 00:58:52,160
I said, first person that's come up with the cash

1389
00:58:52,160 --> 00:58:53,360
gets the company.

1390
00:58:53,360 --> 00:58:55,320
And the second company that called me,

1391
00:58:55,320 --> 00:58:56,240
not the one that I called,

1392
00:58:56,240 --> 00:58:59,000
the company that called me was the one that bought it.

1393
00:59:00,320 --> 00:59:02,960
And it happened within like a two week period of time.

1394
00:59:04,040 --> 00:59:06,160
Now it took me three months to do all the sales

1395
00:59:06,160 --> 00:59:10,920
because it was a pretty hefty deal.

1396
00:59:10,920 --> 00:59:14,640
But that's how it works.

1397
00:59:19,920 --> 00:59:22,000
You healthy, you healthy, you healthy, right?

1398
00:59:22,000 --> 00:59:24,880
And you healthy until you're not healthy anymore.

1399
00:59:24,880 --> 00:59:26,680
But typically once you're unhealthy,

1400
00:59:28,360 --> 00:59:30,640
maybe it's something that you can't correct anymore.

1401
00:59:31,800 --> 00:59:33,040
But had you stayed healthy the whole time,

1402
00:59:33,040 --> 00:59:34,640
you would have never gotten sick.

1403
00:59:36,320 --> 00:59:37,840
So you wanna change it.

1404
00:59:37,840 --> 00:59:39,800
If there's one particular moment in your life

1405
00:59:39,800 --> 00:59:41,320
and it's too late to change it.

1406
00:59:42,920 --> 00:59:44,480
If you wanna get healthy on your finances,

1407
00:59:44,480 --> 00:59:45,680
now's the time to start.

1408
00:59:46,960 --> 00:59:50,760
And it's not gonna automatically be something

1409
00:59:50,760 --> 00:59:55,600
that's gonna happen in two months or six months.

1410
00:59:55,600 --> 00:59:56,800
But it might happen in six months.

1411
00:59:56,800 --> 00:59:58,240
It might happen in two months.

1412
00:59:59,840 --> 01:00:02,440
I told you when I did Rich Dad Education

1413
01:00:02,440 --> 01:00:06,640
that I bought a house every month for 36 months straight.

1414
01:00:06,640 --> 01:00:09,720
I would go to the class and I would come home

1415
01:00:09,720 --> 01:00:12,960
and I would buy a house every single month.

1416
01:00:15,080 --> 01:00:16,640
And then it was my determination

1417
01:00:16,640 --> 01:00:19,480
that I didn't wanna show up at the next month's event

1418
01:00:19,480 --> 01:00:22,440
and not be able to say that I did not buy a house.

1419
01:00:23,600 --> 01:00:24,960
So then that drove me.

1420
01:00:28,080 --> 01:00:30,360
And deadlines and stuff?

1421
01:00:30,360 --> 01:00:35,360
I mean, what if I said, okay, I have a house.

1422
01:00:35,360 --> 01:00:40,360
Okay, I have 31 days from now to find a deal,

1423
01:00:41,440 --> 01:00:44,520
find an investor, make that happen.

1424
01:00:44,520 --> 01:00:46,000
That's actually possible.

1425
01:00:48,720 --> 01:00:53,720
It would just be an insane goal and time frame together.

1426
01:00:55,960 --> 01:01:00,960
But it might be what people need to have the gut.

1427
01:01:00,960 --> 01:01:04,000
Like, have the gut, then you give yourself six months

1428
01:01:04,000 --> 01:01:06,160
and it fucking won't happen.

1429
01:01:06,160 --> 01:01:08,840
Give yourself a month or way too short.

1430
01:01:08,840 --> 01:01:11,240
Goals are your solution, you don't have any goals.

1431
01:01:12,360 --> 01:01:14,560
And I know that you had come up with goals.

1432
01:01:15,680 --> 01:01:17,040
But those goals weren't rock solid

1433
01:01:17,040 --> 01:01:19,760
because you didn't complete the goals.

1434
01:01:19,760 --> 01:01:21,640
If you're gonna go with goals, you complete your goals.

1435
01:01:21,640 --> 01:01:22,480
If you're gonna set your goals,

1436
01:01:22,480 --> 01:01:24,120
hey, I'm gonna buy one house this year.

1437
01:01:24,120 --> 01:01:25,720
Now that freaking is gonna happen.

1438
01:01:25,720 --> 01:01:27,080
And it's gonna happen regardless.

1439
01:01:27,080 --> 01:01:29,360
You're gonna find that deal and you're gonna buy the house.

1440
01:01:29,360 --> 01:01:32,280
Otherwise, you fail, it's your goals.

1441
01:01:32,280 --> 01:01:34,680
And make your goals realistic,

1442
01:01:34,680 --> 01:01:36,920
make them something that's attainable

1443
01:01:36,920 --> 01:01:38,760
and you can go do measurable.

1444
01:01:38,760 --> 01:01:40,440
Make them what they need to be.

1445
01:01:40,440 --> 01:01:42,720
But if you make that goal, then you make that goal happen

1446
01:01:42,720 --> 01:01:44,760
if you're committed to it.

1447
01:01:44,760 --> 01:01:46,560
And if you're not committed to it, you will fail.

1448
01:01:46,560 --> 01:01:48,960
But if you are committed to it, it will happen.

1449
01:01:48,960 --> 01:01:49,800
It will happen.

1450
01:01:49,800 --> 01:01:51,320
All right, let's rock and roll.

1451
01:01:51,320 --> 01:01:52,480
Let's go check out Mansker.

1452
01:01:52,480 --> 01:01:59,480
Let's do it.