DreamNation Real Estate Podcast with Casanova Brooks
DNRE87 - David Dodge: The Three Pillars of Wholesaling Real Estate

DNRE87 - David Dodge: The Three Pillars of Wholesaling Real Estate

July 28, 2021

Here’s a snapshot of a few things we talked about…
·         Who is the Clark Kent, When It Comes to David Dodge? [00:01:04]
·         Where Did He Learn About House Hacking? [00:02:56]
·         How Did He Fund His First Property? [00:04:11]
·         How to Find Deals and Market to the Sellers [00:11:28]
·         Areas that David Works in [00:21:46]
·         How to Market to Get a Deal [00:25:50]
·         Softwares to Know About Good Deals [00:34:22]
·         Who Should You Hire First If You are Starting Up? [00:38:47]
·         One Thing He Wishes He Had Implemented Sooner to Accelerate His Journey? [00:43:53]

In this episode, Casanova and David talk about wholesaling real estate, the power of marketing and how you can generate and convert leads.
David says that he has been interested in real estate since a young age. He says that he just knew that he wanted to be a real estate investor in some way, shape or form. David bought his first rental property when he was 20, and it was house hacking. From there, he was able to acquire more properties over the next seven, eight years.
David adds that he had teachers and mentors who strongly emphasized the importance of being an owner in real estate. You can flip stuff for short-term profits, but when it comes to tax strategy and wealth creation, being an owner, it's the way to go.
During the first 10 years of his real estate investing career, David worked part time jobs as well. Although he was able to acquire properties, he says that it was slow, and he did it wrong. As for the financing, the bank would give an 80% loan, and he would deposit the 20%. In the beginning, he would borrow money from friends and family for the down payment.
David says that at the age of 30, he learnt that if you want to find great deals, you have to avoid the MLS at all costs. Changing their mode of operation, David and his partners flipped close to 700 properties and while they aren't even really in the property flipping game.
He adds that he focuses a lot on marketing. They market all over the city and their intentions and goals are to find really good rental properties which fit their buy box, that they can use the BRRRR Method to acquire, or nice fun, easy, nearby fix and flips.
David adds that they don't like buying properties that need more money to fix up than the purchase just because the risk is really high there. Currently, he has 56 rental properties, mostly singles, twos and some fours.
He shares that he did it wrong for the first 10 years, because he didn't know that you could directly market to sellers and avoid the MLS, avoid the agent and avoid paying full retail. He adds that you got to be good at marketing. It will allow you to find somebody that has a problem. All we do as real estate investors or wholesalers regardless, is help people solve problems and demand a discount.
David says that all they really do is that they exchange convenience, quick cash, as is, for a discount. He says that you should be bold about it, and that's the business; the bigger discount they give, the more convenience he is going to offer them.
He adds that the reason that discounts are so important is because you make your money when you buy, you get paid, when you sell, they are two different things. So you have to buy at a discount, the lower you buy a property, the less risk you have when you become the investor and you go and you fix and flip it, or you add it to the portfolio of rentals.
So the lower you can buy, the less risk you can have, and the more opportunities you have to fund it. That is why you got to really learn how to buy at a discount and the MLS is the wrong place. Don't try to find deals on the MLS because the whole process of listing properties is anti-discount.
David adds that if you want to find deals, you have to learn how to basically bypass agents, find people that have problems, and learn how to market directly to sellers. That's basically the best approach, and you can do it in a number of ways. At the end of the day, all of the marketing leads to one place, a phone call. So quit overthinking it, get good at marketing.
He says that the goal is to get 150, 200 houses and then just rapidly try to pay those properties down. They use the BRRRR Method and don't typically spend money on buying a house anymore. So whenever they buy it, they buy it with somebody else's money.
David adds that if you want to be a real estate investor, start with deal finding, start with marketing, start with wholesale, because it's going to teach you how to come across deals. Then what you can do is, you can run, and cherry pick the best ones.
He says that if you want to find deals, you need to have 10 people call you every day, because one in 30 of them is going to be a deal. He adds people are always willing to let you call back, if you position yourself, like you want to help.
David adds that the name of the game is to get your phone ringing. If you don't have money to invest, which is totally normal then you have to spend time ringing other people's phones. That's a people’s business, real estate is just the product that we're looking for. It has nothing to do with the business. The business is marketing and people.
He says that people often quit because they're not willing to make the marketing investment. You have to be willing to take the time and invest into following up. He adds that when making an offer, pull away, disqualify yourself as being the retail guy, go in as an investor, go in with the mindset that you're going to make a profit, and be transparent.
David says that avoid the MLS just when you're buying property, but the MLS is your greatest tool because it shows you the current value of the nearby properties, which are comps. He also uses PropStream and Batch Leads to determine the ARV.
He adds that if you don't have a ton of time, but you do have a little bit of capital, go hire some cold callers and some cold texters and it can be all virtual people. He has four people that do nothing but marketing all day long. He says that the three pillars of wholesaling are marketing, making offers, and following up, they're all three super equally important.
David says that having virtual assistants is just leverage as time is his most valuable asset. If you want to be a full-time real estate investor, then start doing activities real estate investors do.
Key Quotes:
·         “Books, podcasts, teachers, mentors, online courses, seminars, you name it, man. Like if there's something that's going on with real estate, like I want to be a part of it…”
·         “No matter what you gotta do, be an owner. Somebody else is going to make you wealthy…”
·         “I just didn't take no for an answer, man. I said, I'm going to do this. And a hurdle would come in my way, and I jumped over it and keep running…”
·         “So all the marketing, 100% of the marketing is to try to find something that fits the buy box. So the buy box is a rental property that can get me 250 bucks in cash flow a month…”
·         “My book is just my documentation of what I did and how I did it to do at the time, a hundred BRRRRs…”
·         “We have a little funny slogan or saying at the office. ‘Keep the best and just wholesale the rest’, like so simple…”
·         [You are] not a real estate investor in my eyes, when you're a wholesaler, you're a marketer…
·         “If you're good at writing contracts, like I am, you can write in specific clauses that eliminate your risk to zero…”
·         “The definition of business Casanova, it's the act of making money. So why hide behind the business like you're not going to make a freaking profit, right?”
·         “You can mitigate your risk by paying 30 or 40% under the market value, if you get a property at 60 cents on the dollar, you can literally screw up three times and still break even on that deal…”
·         “What's the purpose of marketing it's to get the phone ringing, period…”
·         “Anybody on my team that brings us a deal, we'll give them two grand…”
·         “Driving for dollars is one of the best ways to find deals…”
·         “How do you go about finding a great property that you can use the BRRRR Method on guys? You got to get a deal on it…”
·         “The average deal is four to six months old…”
·         “There's no secret guys, go get bandit signs, hang them in the neighborhood, drive around it, write down addresses or get Deal Machine or BatchDriven…”
·         “Make a friend, don't try to sell people on anything…”
·         “I use a ton of softwares because I just like them because I think that they just make human life a lot easier…”
·         “Those who don't follow up continuously are leaving 80% of the deals on the table…”
·          “You gotta be making offers to all the people that you're marketing to…”
·         “You don't need good sales skills. Just make a friend and let them know that this is a business that you're an investor in that you got to do this for a discount…”
Links/Resources:
·          The BRRRR Method: Build a Rental Empire with Nothing Out of Pocket by David Dodge and Mike Slane
·         PropStream Real Estate Investment Software
·         Batch Leads Software
·         The Three Pillars of Wholesaling Real Estate: Learn How to Wholesale - by David Dodge
·         Discount Property Investor - Real Estate Coaching & Education
·         https://www.instagram.com/davidalandodge
 
 
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DNRE86 - Rachel Richards: Retire Early with Passive Income

DNRE86 - Rachel Richards: Retire Early with Passive Income

July 21, 2021

 

Here’s a snapshot of a few things we talked about…

  • Who is the Lois Lane, When It Comes to Rachel? [00:01:55]
  • Who Did She Talk About the Books That She was Reading? [00:03:43]
  • Did She Get into Real Estate Directly Out of College? [00:04:48]
  • Did She Do Something on the Side while Working as a Financial Advisor? [00:05:58]
  • Her Role After She Started Working with a Real Estate Investor? [00:06:50]
  • How to Provide Value if You Don’t Have Money for Marketing? [00:07:57]
  • Why She Didn’t Partner with the Real Estate Investor She Worked with? [00:09:18]
  • Her First Deal in 2017. [00:10:46]
  • How Did She Find Her First Deal? [00:12:00]
  • How Does She Define Passive Income? [00:14:56]
  • Why Having Property Managers is a Good Idea [00:16:34]
  • Clearing Debt First or Investing to Pay Debt Later? [00:18:46]
  • Where Does She See Everything Going Over the Next 24 To 36 Months? [00:20:02]
  • One Thing She Wishes She Had Implemented Sooner to Accelerate Her Journey? [00:23:00]
  • Her Mantra When She Gets into Adversity? [00:24:54]

In This Episode You’ll Learn:

In this episode, Casanova and Rachel talk about passive income, and how it can help you retire early.

Rachel grew up in an affluent county, and comparing herself to her peers, she felt like they were poor, and money was always a stressor in her family. She felt like she did not fit in at a young age. Rachel realized that she didn’t want to struggle with money when she grew up.

That realization lit a fire, and she became passionate about reading. After reading Rich Dad, Poor Dad, she realized that this was how going to escape the rat race and achieve financial independence.

Early on, she learned about real estate investing through books and podcasts, and after she started working, she had mentors and learned from people as well. Rachel majored in Financial Economics, and she started working as a financial advisor.

She ended up leaving that job, and started working with a real estate investor, where she started learning about real estate investing. She learned a lot from him about how to find off market deals.

She says that people looking to invest in real estate, if all they're doing is looking at the MLS and they'll never find a good deal. She adds that sometimes both time and money are needed to get started investing in real estate, but there are ways to generate off-market deals that don't require money.

Rachel adds that when you're networking with brokers, lenders, attorneys or real estate agents to get pre-foreclosure leads and short sale leads, oftentimes you can contact the owner directly but doing a small mail campaign, isn't that expensive.

Talking about her next job, that she left after nine months, Rachel says that she still learned some valuable skills from there. She says that now she can connect the dots and see how all of these experiences added up, have enabled her to become a successful real estate investor.

Rachel talks about the first deal that she did in 2017, when she was 24 years old. It was an off-market deal because it was not an active listing on the MLS. She found it while looking through the expired and canceled MLS listings.

She adds that some people feel like following up is aggressive and annoying to do, but if you just do that from a very friendly perspective, saying, hey, I'm still interested, I can't wait to potentially make an offer, the agent and the owner will be very appreciative of that.

Rachel says that then they started working on the rent by the room business model. With that unique model, they were making a ton of money. After they reassessed their goals, they decided that they want to have more passive income, so they started moving away from this model.

She says that they have decided to reinvest their money into real estate syndications, where it's truly hands-off passive income. She defines passive income as the money that is earned with little to no ongoing effort.

Rachel adds that with rental income, she always tells people that they have to have a property manager if they truly want it to be passive. She adds that if you continue to be cheap and frugal, you're going to have a hard time growing and scaling because you're going to try to do everything on your own rather than delegating it.

Talking about people with debt, who are looking to invest in real estate, Rachel says that anyone with high interest consumer debt, like credit cards, your money will almost always be better off being put towards the credit card balances and paying the credit card debt down first.

If you have lower interest student loans or a mortgage on your primary residence, then there's nothing wrong with starting to invest in real estate. She adds that an easier way to look at it, to get a clearer answer is to compare the interest rates.

Rachel says that it's hard to be an investor right now to find good deals because the market is so crazy. So, it's so important to be willing to look for off-market deals and go the extra mile to find those deals. I think it's hard as an investor or an entrepreneur to know when enough is enough.

She says that once they reached their goal of monthly passive income, they stopped expanding their empire. She says that they just wanted freedom, and to be able to travel and to work when and where and if they want.

Rachel adds that it's important to know, what is the end goal, and what you will do when you get there. She adds that something that would have accelerated her journey was taking action sooner. She says that getting caught up in limiting beliefs really held her back.

She says that she wishes she had learned the different investing strategies if you don’t have investment, and then not been afraid to take action on them. She adds that her mantra, when she gets into adverse situation is to ask two questions; what is good about this and what does this make possible?

Key Quotes:

  • “I remember thinking to myself at some point that, I did not want to end up like everyone else struggling with money…”
  • “The first book I read about real estate investing was Rich Dad, Poor Dad…”
  • “I paid my way through schools, selling Cutco Cutlery. …”
  • “I graduated debt-free, and I just figured that the sales background with my passion for helping people with money would make me a perfect financial advisor…”
  • “It's astonishing how many ways you can find deals besides the MLS. And I think that's one mistake investors make…”
  • “You have to be willing to learn how to be creative and do some of these off-market strategies to find the real hidden gems…|
  • “I had to hustle, and I had to find ways to save money, ‘cause I didn't have any money really of my own to spend back then…”
  • “Sometimes you need to have the retrospect of looking back and realizing, oh, that was actually very valuable…”
  • “You can never connect the dots looking forward, you can only connect them looking backwards…”
  • “The way I define passive income is that it is money that is earned with little to no ongoing effort…”
  • “Don't be cheap because being cheap can cost you so much more money in the long run…”
  • “I think it's hard as an investor or an entrepreneur to know when enough is enough…”
  • “Having that goal, having that pinpoint and knowing when you get there that you have peace, you have fulfillment with it…” – Casanova Brooks.
  • “You don't have to be great to start, but you have to start to be great.”

 

Links/Resources:

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DNRE85 - AJ Osborne: Generating Income with Self-Storage Spaces

DNRE85 - AJ Osborne: Generating Income with Self-Storage Spaces

July 16, 2021

Here’s a snapshot of a few things we talked about…

  • Who is the Clark Kent, When It Comes to AJ Osborne? [00:02:03]
  • How Did He Become Paralyzed? [00:06:14]
  • Two Ways That You Have Value [00:12:53]
  • How He Has been Able to Start Multiple Companies? [00:31:45]
  • Would He Recommend Self-Storage Space to People Starting Out? [00:43:23]
  • Levers That You Could Change in Self-Storage. [00:47:15]
  • How to Get Financing for Self-Storage Facilities? [00:57:05]
  • App For Self-Storage Industry News and Analysis [01:05:44]
  • One Thing He Wishes He Had Implemented Sooner to Accelerate His Journey? [01:07:01]

In This Episode You’ll Learn:

In this episode, Casanova and AJ talk about everything related to self-storage, one of the most profitable niches in the real estate market.

 Behind the scenes, AJ is a family man, who like spending time with his four kids. He is a very result driven, goal-oriented person, who likes processes that can make change and wants to see things happen. What makes his story unique and interesting is the fact that he became fully paralyzed, quadriplegic due to a rare condition called Guillain-Barré.

Within a short span of time, AJ became completely paralyzed. His journey to recovery took him over four years, and he still hasn’t fully recovered. AJ says that him wanting to be the dad that he wanted to be with his kids kept him going and doing things. He started up three different companies out of his wheelchair.

Since then, his wealth has exploded. Now they have product businesses, and service businesses. AJ develops, converts, bankrupt office buildings, retail centers, turning those into self-storage facilities.

Recalling the time when he was working with his dad, he just made money off whatever they sold to our clients. This was an invaluable experience as it was ingrained in his mind that revenue comes from action. He says that this is something many entrepreneurs and businesspeople understand.

Talking about how living on 30% of their income, AJ says that this taught them the importance of saving. He also learned the important life lesson that they have to have income that is not tied to his time. AJ talks about another light bulb moment that he had, that if he can't stop, he can't compound. And if he can't compound, his growth is limited and that he could not handle, as he can't compound his wealth, because his time is limited.

Then, AJ and his father started acquiring self-storage units, and he started loving them. They turned out to be a great investment as they aren’t real estate assets, they are a business. He could buy bad performing units and turn them around, and this appealed more to him as he was a salesguy.

Talking about the two ways to get values, AJ said that there's given value and there is earned value. When he first started looking, he was obsessed with given value. For him, the Margin of Safety is important when investing, buying businesses, and everything.

AJ adds that you have two types of knowledge, you have static and dynamic. Static knowledge is something you read out of a book, dynamic knowledge is when you do, it's learning. As he gained dynamic knowledge, he looked for the next one; created value. Once he started doing this, his returns exploded.

AJ says that as a business owner and investor, you have to get comfortable with operating on the revenues of a business, not off a paycheck, and those fluctuate. He says that it is fine if you know how to control money and capital.

AJ recalls the painstaking process of tirelessly working while he was recovering from his condition, after losing his job, but that ended up saving me and my family's life. He adds that you want to get yourself off that earned income, but you also want to make sure that you're protected against downsides.

Talking about his real estate acquisitions during the recession, people thought it was not a great idea. He says that the way that money and fundamentals work is simple, and the process is always true.  AJ adds that because he made sure he had a margin of stupidity, he was able to learn and make it big.

AJ faced a lot of difficulties in school, as he is dyslexic. When he took and scored super high on like equivalencies and IQ tests, he realized that it was the system that was failing him. It is important getting comfortable and knowing that it's okay to not know to be wrong and to have faith, but that it doesn't mean that's who you are.

He adds that markets care about one thing, and one thing only they care about price, they care about value, they care about service. And as long as you can deliver that to them, you'll be successful.

AJ says that first and foremost, when you're truly starting out, you need mentors because what you need to learn to do, you can't do at school, and dynamic learning is a way of learning how to learn.

Talking about the two types of people you can find in every organization; AJ says that there are implementers and then there are visionaries. He talks about how surrounding himself with implementers helped his companies achieve great success.

AJ says that when you start out, you usually don't have a lot of money, so, partnering is the best option. You need to partner with somebody that is good at the things that you aren't. Then, put the right people in the right positions by identifying them and create processes so you can measure their success.

Talking about people starting out, AJ says that if you want to end up in self-storage space, just start there. He says that it gets a lot harder to find commercial assets and other industries like retail, that you could start small, learn, grow and compound.

AJ adds that the revenue management side of self-storage is very dynamic, and you can market it very efficiently by identifying the high-paying customer.

 

Key Quotes:

  • “You don't need to be a superhero to have massive results and massive change…”
  • “Revenue comes from action…”
  • “If you look, so many entrepreneurs and businesspeople, so many of them are salespeople…”
  • “I am playing the greatest game on earth with the coolest people, and I get to do it every day, what a blessing…”
  • “It also, taught me the most important skill ever. I have to have income that is not tied to my time…”
  • “I do mergers and acquisitions. I buy brokerage firms and we take in our technology and skill, turn them around…”
  • “If an asset, for some reason, isn't performing at a market level and that's usually dependent on operators…”
  • “Dynamic knowledge is much more valuable because dynamic knowledge has to do with forced value…”
  • “I understood that how money really works instead of disillusion of the paycheck…”
  • “The people in the economy that are the biggest and the best are the ones that survive…”
  • “As long as I knew I needed a margin of stupidity, I could be stupid and do it. And you can do that in every industry, in every asset class…”
  • “Start small, start with margin of stupidity and be okay with your own stupidity. Get going, start building those small things…”
  • “That is how entrepreneurs work. You're building something in the future that doesn't exist…”
  • “If you're starting out, go find mentors…”
  • “I'm big on self-auditing. I shouldn't be doing this. I'm not very good at this. We need to get somebody that is great on this and implement…”
  • “The revenue management side of self-storage is very dynamic. We look at ourselves like hotels or airlines, they're always changing…”
  •  

Links/Resources:

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DNRE84 - Rod Watson: The Four Currencies: Knowledge, Time, Relationships, and Money

DNRE84 - Rod Watson: The Four Currencies: Knowledge, Time, Relationships, and Money

July 16, 2021

Here’s a snapshot of a few things we talked about…

  • Who is the Clark Kent, When It Comes to Rod Watson? [00:02:19]
  • His Backstory and Where He Grew Up. [00:03:31]
  • What Was it Like for Him When He Transitioned Back in After Playing Overseas? [00:10:35]
  • Why Do Real Estate Agents Experience Burnout? [00:16:27]
  • Why Did He Decide to Make the Transition into Luxury Real Estate? [00:19:08]
  • How Tough Was it for Him to Break Through the Luxury Real Estate Market? [00:23:55]
  • How Can Someone Break into The Luxury Real Estate Market After Pandemic? [00:32:30]
  • One Thing He Wishes He Had Implemented Sooner to Accelerate His Journey? [00:42:10]
  • His Advice for People Looking to Take Action

In This Episode You’ll Learn:

In this episode, Casanova and Rod talk about how and what you need to break into and excel in the luxury real estate market.

Rod is an everyday guy, who loves spending time with his family. Rod has always been a dreamer, ever since he was a kid, he had a bright and colorful imagination. He doesn’t believe in just working to create the world that he wants for myself, but also doing so while helping others and living life on his own terms.

Rod says that he is a passionate individual, and his family is his main source of motivation. He says that he didn't get into the business of real estate, just for the money aspect. He knew that the money aspect would create equitable opportunities and some stability and long-term financial wealth, if he stayed consistent and persistent with it.

Ultimately, he did it because it created the opportunity to have right time to live life on his own terms, time to explore who he is as a human being and to work on manifesting the things that he dreamt about and the things that he wants in his life.

Growing up in the historic Fifth Ward community in Houston, Texas, Rod had a troubled childhood. It had a profound impact and effect on him, where it forced him to be in a position where he was on his own. At 14, to escape the negativity in the household, he started living outside.

Early on, he had to figure things out on his own, and had to go through that process of dealing with not having a father that was available to him, that he could speak to and discuss those challenges and issues that he was faced with. He found a refuge in sports.

When he found out about Michael Jordan, MJ became his idol. He wanted to learn how to play this sport because he wanted to be like Mike. He became that father figure, that superhero, that person he wanted to emulate and follow in his footsteps.

It kept him on the straightened arrow until he was able to earn a scholarship to go off to college, which led him to California because he didn't want to stay in Texas. Rod had a mentor at the time, he didn't see him as his mentor. He saw him as a friend, who was a great basketball player, and would play with them during summers.

He was the connection that helped him move to California. Rod says that the negative experiences from his early life that profoundly impacted him, also taught him how to be resilient, how to be tough, how to take on challenges head on. When he got the opportunity to play basketball in the state of California, he jumped on it, something he says was the best thing that ever happened to him.

Talking about transitioning back after playing basketball overseas, Rod says that he had prepared himself. He realized that he was eventually going to have to stop playing this game. He wrote down some goals and one of those goals was to obtain a master's degree and also, potentially become a college coach.

When Rod got a call from his college coach who had just taken a job at our cross-town rival with an offer to join him. He took the assistant’s job. The university agreed to pay for his master's degree, along with housing, at the time as a head associate coach and an assistant. Rod believes that it was probably one of the best decisions he made and is thankful that he sat down and wrote his goals out, and what he wanted to obtain for himself.

Another one of his goals was also to become a father and a husband, and have a family. Aside from getting a master's degree was also to be a better example to his siblings and to his family as well, by how he lived his life.

Rod adds that you have to ultimately have a strong, positive mindset to be persistent and consistent towards working towards your goals, the things that you say you want to accomplish. That's going to allow you to break through and get to that next level that you say you want to be at, or you want to get to.

Talking about why he made the transition to luxury real estate, Rod adds that there were a few reasons behind it. First, you would make a lot more money, doing the same amount of work. Secondly, he saw the long-term benefits and building his name and my brand in this space, because then he could take that money and work towards building wealth for himself and his family.

Thirdly, he also wanted to create other equitable opportunities outside of real estate for himself in the media space and he’s beginning to do that. Rod adds that it takes money to do great things, and to have longevity in this space. It takes money to build wealth. It takes money to live the life you want to live on your own terms and the luxury real estate states space presented that to him.

He talks about paving way for his daughters to learn the business, so that one day he could pass that down to his kids, as well as the wealth of knowledge in this space that he learned over the past 15 years. All of that information is going to be passed down to his daughters.

Rod adds that the world has convinced us that the only way that you can actually have success in society is by going to college, and it's not. He says he is a living example, when he wrote down his goals, and wanted to be an example to the next generation; his siblings, aunts, and uncles. He wanted to break the generational curses.

Rod says that everything's hard in the beginning, it doesn't matter what you're preparing yourself to do. The challenging part is doing the work, that's going to lead to even just giving yourself an opportunity to experience the things that you're seeking, or that you are pursuing in life. For him, it came down to a few things; relationship, knowledge and information.

Rod leveraged relationships, immersed himself in gaining the knowledge, and then researching information, to learn about things that he needed to have in order to be more informed about what it's going to take to enter this space and have success.

He further adds that faith without any actions is dead. So, if you're not going to put any action behind, you're not going to produce the results. For him, the hard part was just being patient enough to allow that process to manifest or to evolve, and sticking it out to see it through to when he finally got that opportunity to get his first luxury listing.

Talking about how they got their first luxury listing, Rod says that it was one of his friends in California, who was an NBA player. It was their first luxury listing million-dollar property. They sold it in less than 30 days, and for a really good price. Rod says that they accomplished two things in one; they sold a luxury property that was owned by an athlete.

Rod says that with these individuals, it comes down to trust. He adds that there are four forms of currency, knowledge, time, relationships, and money. Majority of us spend time chasing money, and we devalue relationships. We devalue the fact that our time is our greatest asset next to our health.

He says that when he didn’t have money and was dead broke in his business, he leveraged knowledge, he leveraged his time and he leveraged the relationship that he had, that opened doors for him.

For people looking to secure listings in the luxury real estate market, Rod says that it’s about operating in the circles of where those people are, and utilizing the four forms of currencies. Those people aren't just looking for a real estate agent. You should seek to build and leverage relationships with those who know you and like you, that operate in the space of those individuals that you seek to work with.

If you don't have those relationships, you got to put the work in and put the time in and increase your knowledge in that space, and you got to learn the business. So, by learning and getting the knowledge, you can learn how to effectively market yourself, where you have to build your brand, your presence.

You also have to be in those places where these people are. So, that is either through relationships or friendships. Cass adds that you have to show that you're different. Rod says that you have to be strategic, intentional, and you have to be committed.

Rod says that you can only acquire knowledge through time and being consistent and persistent about seeking that information out. He says that the only regret that he has is that he should have started sooner. If he had the knowledge that he has today, he would have started right out, and probably wouldn't even have gone to college.

For people looking to take action, Rod says that you have everything you need within you, that God has given you, that's your gift. Just have a strong undeniable belief in yourself, regardless of how you feel or where you're at today. If you have a dream that is a signal right away to let you know, you have everything you need within you.

Key Quotes:

  • “I enjoy just being a regular guy. I don't seek attention from people. I don't need validation from others…”
  • “I'm just someone that's passionate about my dreams, passionate about living this experience that we call life as human beings…”
  • “In spite of my hardship and challenges that I was faced with that became my refuge, that became my church, that became my sanctuary being on the basketball court competing…”
  • “That started with writing down my goals and then actually planning and preparing for the future that I wanted to have for myself…”
  • “Sometimes you have to realize that it's going to require you to get out of your comfort zone and there’s levels, right, it's like a video game…”
  • “I saw luxury being able to create the opportunities for me to further live out my life in the way that I wanted to live it, around the things that I'm passionate about…”
  • “I've gained that knowledge and information of being in this industry 15 years so, that's wealth in itself...”
  • “If you have enough belief in yourself, you go out and you work towards building and creating something, that in itself is wealth…”
  • “I tell people all the time, if you want to enter the space, you got to do the work…”
  • “I've learned very early on that If you can leverage knowledge, if you can leverage time and you can leverage relationships, money will come…”
  • “Relationships can get you into any door that a degree can not necessarily…”
  • “If you study the greats too, they have a strategic approach to everything they do, period…”
  • “Start is the hardest part…”

Links/Resources:

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DNRE83 - Why People Leave eXp Realty?

DNRE83 - Why People Leave eXp Realty?

July 2, 2021

Here’s a snapshot of a few things I talked about…

  • Why People Leave eXp Realty?
  • How Casanova Joined eXp Realty? 
  • Be Open Minded and Take the Meeting 
  • Focusing on Collaboration Over Competition
  • You will Get Out, What you Put In
  • Choose The Right Sponsor or Mentor
  • Plug In to the Training and the Systems
  • Burn the Boats

In This Episode You’ll Learn:

In this episode, Casanova talks about the most common reasons that anyone leaves eXp Realty.

Cas says that if you're somebody who you've just joined eXp, and you want to make sure that you're looking out for these things, or if you've been hearing about eXp and you're thinking you might want to join, but you want to know what the cons are, because you're hearing all of the pros, you will find this really helpful.

Cas recalls how he was introduced to eXp Realty, while he was working at a large brokerage company. He was not looking to join any other company at that time, but when he was approached by a networking company a year prior, even though he was a real estate guy, he still took the meeting. 

He adds that you'll never succeed to where you want to go in life, if you're not open-minded. He always takes the meeting. You have to make sure that you at least get the information because you don't know what you don't know.

Things didn’t work out in that meeting with them, but a year later, he was approached again, and this time, he decided to join eXp Realty. He adds that the things he has learned over the last three years, have been nothing short of phenomenal.

Cas adds that what sets eXp apart and also why most people leave eXp Realty is they are not focused on collaboration over competition. Every single day, we have to be focused on how do we get a little bit better.

When Cas came to eXp, it was because he wanted leverage in his life and didn't want to have to continue to be a solopreneur. He didn't know, and wanted to learn how to leverage the resources, the people, the systems.

He knew that it was going to take him putting in what he wanted to get out. He was going to have to give up so he could go up to the next level in his business. Cas adds that the second reason of why a lot of people leave eXp is because they don't choose the right sponsor or mentor.

He says that you get out of it will be what you put into it. You have to find somebody who aligns with whatever your goals are. Your sponsor should be somebody that you can learn from, and that you can most importantly leverage.

Ask yourself, what are your strengths and weaknesses, and then double down on your strengths, and you want to make sure you partner up with somebody who has your weaknesses. The third reason that people leave eXp Realty is because they're not willing to plug in to the training and the systems. 

He adds that if you join eXp, if you're already a part of eXp, how can you be all in? You have to burn the boats. Give it all you got, because the last thing of what you want to do is you want to leave, or you want to come over and you had these regrets.

Cas adds that the reason why he is not going back to his previous company is because he knows that he has an opportunity that will change, and that's already changing the industry forever. If you were thinking about being a part of one of the fastest growing brokerage models, Cas would love to have a conversation with you, click on the link below to reach out.

Key Quotes:

  • “I feel like I have a very good understanding of the good, the bad and the things that we wish could be a little bit better [at eXp]”
  •  “Always take the meeting, right? Something that I learned is the people who get left behind are the people who are closed minded…”
  • “There's nothing worse to being broke than being broken and being stupid, but there's nothing even worse than being broke, being stupid and being ignorant…”
  • “You don't know what you don't know, and you have to stay cutting edge…”
  • “I've not been disappointed by my sponsor, my seventh level, my six level, I've been very fortunate in this company…”
  • “You have to burn the boats. It either has to work or it has to work…”

Links/Resources:

  • dreamnationacademy.com 

Help us out?

If you enjoy our podcast, please head over to Apple Podcasts and leave us a 5-star review. By doing so, you enable us to reach more people.