DreamNation Real Estate Podcast with Casanova Brooks
DNRE94 - Casanova on Leigh Brown: Relationships are the Most Valuable Resource for Success

DNRE94 - Casanova on Leigh Brown: Relationships are the Most Valuable Resource for Success

September 15, 2021

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

  •         Introduction
  •         How Did Things Start Out for Casanova?
  •         How His Backstory Made Him What He is Today?
  •         His Journey of Recovery from Cancer
  •         How Did He Know that Working for Someone Else was Not for Him?
  •         How The Journey is What Really Makes You Who You Are
  •         How He Got Started in Real Estate?
  •         Why Did He Leave His Sales Job?
  •         How He was Inspired by Jay Morrison to be the Lord of His Land

In This Episode You’ll Learn:

In this episode from the series of Casanova’s appearance as a guest on other podcasts, Casanova and host Jamila Souffrant talk about how he overcame adversity, the power of building relationships and how to leverage them, and why having a positive mindset is the key.

Casanova’s backstory is what led him to become who he and what he has accomplished. He grew up in inner city, Chicago, and was raised by a single mom, and his grandma stepped in to help lead the way of being his dad. He had the odds stacked against him, but he did have a strong mind. He had two strong minded women who always tried to protect him. The first stage of adversity that he went through was losing two of his best friends. By the end of his sixth-grade year, his grandmother decided to move him to Sioux City, to keep him safe from the turbulent streets of inner-city Chicago.

While he was sophomore in high school, and things were going great for him, adversity struck again. At 15 years old, he was diagnosed with stage four, Non-Hodgkin lymphoma cancer; where he was two weeks away from death. While going through two years of chemotherapy, what started to change was that everyone looked at him like a victim. He started to wonder how could he cope with these things mentally? Life took a huge turn for him, but he didn't know how to cope with a lot of those things, but that's where his mindset really started to take that shift. These things started to build his armor and build his character.

Casanova had an entrepreneurial mindset from early on in his life, largely inspired by the VH1 show "The Fabulous Life Of". At 8 years old, pumping gas for other people at the gas station, he started to see that he could create his own success. He continued to try different things throughout the high school and then going into college. During his junior year, he started to realize that just having a degree is not going to guarantee him success in life. Along this path, he had 18 different jobs, trying to figure out his calling.

Casanova adds that his motivation behind these decisions was that he wanted to control his own time. He also felt like he was never being valued at what he was worth, and he wanted to have an impact on the world. Talking about the journey, Cass shares that he learned that you have to be committed to the destination. Jamila adds that who you become on the journey allows you to get to the destination. Cass says that it all starts with a dream, for a lot of people, all you have to do is think of the big picture. What is the point I impact you want to have on others? What kind of legacy do you want to leave?

Cass shares his eventful journey to real estate; from playing poker, to wanting to be a professional video gamer, to serving tables, to getting talked into being a car’s salesman. He was not only selling cars there, but he was also building relationships. Then he was introduced to network marketing, and this is where he learned a lot about personal development. He then moved to Omaha, Nebraska to work as a marketing consultant for a big company. He garnered great success in the company, finishing at number eight out of 4000, inside sales reps.

While he was taking every step, he knew that he always wanted something bigger. Then, he stumbled upon a Jay Morrison video on YouTube, where he had said, you got to figure out a way to be the Lord of your land. This was a light bulb moment for Casanova. From that point forward, he got his real estate license, with the goal that he was going to be the lord of his land. Talking about what helped him succeed, he says “what is your gift, right? And so, your gift is what comes easy for you and harder for others.”

His final stint of adversity came in the form of losing his mother, after they had recently moved to Omaha to live near him. On top of that, he also ended up losing his job and his house, all within a matter of weeks. What helped him rebound from search severe losses to the point where he did 46 deals, eight million dollars in volume in his first year, was horning in his biggest strength, which was building relationships.

Cass adds that the only thing you can never control the result, but the only thing that you can control is your effort, and you always have to find some type of positivity out of every single situation. In every situation, no matter where you are in life, you can find some type of hope. He adds “It allowed me to just keep going when I lost my mom to know that everything that I do every minute of every hour, every person who I tried to impact their lives, and I can use her as the beacon of hope that was for me.”

Key Quotes:

  •         “I always like to think of myself as a relationship builder before anything else…”
  •         “I didn't grow up with a sense of ignorant mindset that said that just because you didn't look like me, did not mean that you had to be against me, and you couldn't be with me…”
  •         “Where I got a lot of my inspiration from was the TV because my parents, my family never owned a house, a car, a business, nothing…”
  •         “My mom always tried to, you know, instill some type of positivity in me, even though she didn't have it to give to me as far as financial literacy or resources…”
  •         “We want our kids to try some of everything, right? Whether it's sports, or its show choir, whether it's band, whether it's, doesn't matter what it is, we want to try everything to figure out the ropes…”
  •         “I of the belief and the understanding that just because I had a degree did not mean I was going to be successful in life…”
  •         “I wanted to control my own time. Right? Because maybe that came from having the cancer where I knew that tomorrow was never promised…”
  •         “I looked at it and I said, listen, if I want to be able to have a true impact on this world, I have to be able to leverage my time…”
  •         “You don't have to love the journey. You don't have to love the process. You just have to be married to the destination…”
  •         “In the corporate world, everybody could tell you no, but nobody could tell you yes…”
  •         “The number one thing that I always thought of is that joy wouldn't feel so good if it wasn't for pain…”
  •         “My gift was building relationships with people. My gift was having high energy high charisma, and I understood that because people were already saying, wow, Casanova like your energy is contagious, it's infectious. And so, I just built off of that...”
  •         “So, all within a couple of weeks timeframe, I lose my job, I lose my mom and I lose my home…”
  •         “For you think of what is your gift, what comes easy for you and harder for other people and then double down on that strength…”
  •         “With Kobe and with his daughter and with the other people on there, it was a profound impact in the way that it unified all of us to really just think that there's so many bigger things that we can be grateful for in life, because it can be gone too soon…”
  •         “Understand that your journey, a lot of the times, it's not for you…”

 

Links/Resources:

  •         https://journeytolaunch.com/
  •         Richest Man in Babylon by George S. Clason
  •         Go for No! by Andrea Waltz
  •         Rich Dad Poor Dad by Robert Kiyosaki

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DNRE93 - Casanova on the Chris Harder Podcast: The Extraordinary Tale of Turning Adversity into Success

DNRE93 - Casanova on the Chris Harder Podcast: The Extraordinary Tale of Turning Adversity into Success

September 8, 2021

In this episode from the series of Casanova’s appearance as a guest on other podcasts, Casanova and host Chris Harder talk about his inspirational journey of overcoming setbacks and losses in his life, to an award-winning real estate agent, investor, speaker, and CEO. He shares the mindset that helped him achieve these incredible feats. 

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

  •         Introduction
  •         Where Did He Grow Up, and Where Does He Live Now?
  •         What Would He Call His Superpower?
  •         One of His Favorite Books
  •         What Does He Consider One of His All-Time Favorite Accomplishments?
  •         What Does He Feel Challenged by Right Now?
  •         Something He Has Done That is Generous?
  •         What Does He Feel Grateful for Today?
  •         How He Ended Up Losing His Mother, His Job and His House?
  •         How Was He Able to Land 46 Deals in His First Year?
  •         How Was He Able to Save Himself from Imposter Syndrome?
  •         Where Does the Positivity in His Personality Come from?  
  •         Does He Feel Racial Resistance as an Entrepreneur or a Real Estate Agent?
  •         How Does He Teach His Kids About What is Going on in the Country?
  •         How Do We Better Support Black Entrepreneurs?
  •         How Does He Want His Kids to Grow Up Viewing Success?
  •         The Non-Profit He Is Most Excited About?

 

DNRE 92 - Casanova on REV: Zero to 46 Deals in First Nine Months

DNRE 92 - Casanova on REV: Zero to 46 Deals in First Nine Months

September 1, 2021

In this episode from the series of Casanova’s appearance as a guest on other podcasts, Casanova and host Patrick Lilly talk about how he overcome adversity, built his network, his persistence and journey towards self-development.

 

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DNRE91 - Chris Miles: How To Pick Your Financial Advisors

DNRE91 - Chris Miles: How To Pick Your Financial Advisors

August 25, 2021

After living what he thought was the good life as a financial advisor, Chris came to see how messed up the advice he was giving his clients. He also saw how messed up his own finances were and knew he had to change.

 

Chris was getting multiple debt collection calls each day, feeling extremely depressed, and didn’t know where to turn….until he came across some powerful insights that forever changed his life.

 

In this episode of DreamNation, we learn what those insights were and how we can turn our focus from fixing debt to eliminating debt with more cash flow. Chris and Casanova will break down how to stack your cash flow so you can pay off debts and start living the life of your dreams.

 

Here’s What You Missed

  • Why Chris Miles says you shouldn’t listen to Wall Street advisors (and what he did instead)
  • His biggest mistake in real estate
  • The one question Chris learned that helped him dig out of the one million dollars of debt he was in
  • How Chris turned collection calls into a friendly conversation
  • How do I avoid debt in my business?
  • How do you get on a big name podcast like Entrepreneur on Fire?

 

Knowledge Nuggets

{1:27] Going Your Own Way One of Chris’ early superpowers )that he would later use as an entrepreneur) was being OK with going his own way. In the first part of the podcast, Chris shares where he developed that skill.

 

[7:04] Dropping Out of the Rat Race Chris took the traditional route of going to college and getting a job, but he didn’t feel that the job gave him any satisfaction or freedom. Chris explains what he decided to do and why.

 

[10:10} Leaving Wall Street  Being a financial advisor was supposed to be a dream for Chris, but it turned out to be a nightmare. Chris learned that the stock market advice he was giving wasn’t helping anyone (including himself), so he got out  Chris shares his lessons about why he believes most people shouldn’t be in the stock market

 

[16:47] Climbing Out of Debt  Chris had his own business on his terms, but things were going horribly wrong. Chris shares how he got to the path of owning a million dollars and the mindset and money strategies he used to get out.

 

[32:28] Scaling Millions Once Chris got back on his feet, he learned more lessons that getting more money is about adding more value, not from taking. Following that philosophy, Chris learned how to give more value and ask the right questions. That led him to bigger stages, like the Entrepreneur on Fire podcast. Chris shares the incredible story of how he got on the Entrepreneur on Fire podcast and how he used that experience to make more money than he ever did before.

 

Important Reads & Links

Three Feet from Gold: Updated Anniversary Edition: Turn Your Obstacles into Opportunities! By Sharon Lechter

 

Trump Never Give Up: How I Turned My Biggest Challenges into Success by Donald Trump

 

The Art of the Comeback by Donald Trump

 

The 4-Hour Workweek by Tim Ferriss

 

The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field by Mike Michalowicz

 

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If you enjoyed this episode and want to keep building your dream, subscribe to the DreamNation podcast using the links below.

 

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Catch your host on Instagram (@casanova_brooks).

DNRE90 - Ash Cash: Assets Vs. Liabilities

DNRE90 - Ash Cash: Assets Vs. Liabilities

August 18, 2021

DN89 - Ash Cash

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

  •         Who is the Clark Kent, When It Comes to Ash Cash?
  •         Was He Mentored by Someone on How to Make Money?
  •         How Did His Family and Friends Perceive His Role as a Banker?
  •         What Was Stuck into His Mind When He Was Learning About Financial Literacy?
  •         Is a Home an Asset or a Liability in His Eyes?
  •         How to Get the Right Mindset, to Create Passive Income and Generational Wealth?
  •         What it Means to ‘Pay Yourself First’
  •         What People Can do to Start Bringing in Additional Income?
  •         How to Package Your Knowledge if you Don’t Have a Backstory?
  •         What’s the Smallest Amount that People Can Start Investing?
  •         The Best Business Book That He’s Read and His Best Book?
  •         Best Advice That He Has Been Given in the Last Two Years?
  •         His Advice for People Looking to Take Action

In This Episode You’ll Learn:

In this episode, Casanova and Ash talk about financial literacy, how to be financially savvy. 

 

DNRE89 - Chadi Bazzi: Five Steps To Master Your Listing Presentations

DNRE89 - Chadi Bazzi: Five Steps To Master Your Listing Presentations

August 11, 2021

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

  •         Who is the Clark Kent, When It Comes to Chadi Bazzi? [00:02:03]
  •         How Was He able to Leave and Start Coaching? [00:09:53]
  •         The Role Played by His Environment and Being Around Great Thinkers? [00:11:32]
  •         How He Developed His Daily Routine? [00:14:50]
  •         How Can Someone Go Out and Get Listings Easily? [00:18:11]
  •         How to Master Your Listing Presentations [00:22:05]
  •         The Framework for What to Do Before Listing Presentations [00:29:36]
  •         Where Does He See Agents Struggling in The Current Market? [00:33:07]
  •         Best Sites to Find Expired Listings [00:35:17]
  •         One Thing He Wishes He Had Implemented Sooner to Accelerate His Journey? [00:37:24]
  •         His Advice for People Looking to Take Action [00:40:54]

In This Episode You’ll Learn:

In this episode, Casanova and Chadi talk about the importance of your environment, having a routine, mastering your listing presentations and how to deal with the shifting trends in the market.

Chadi grew up in Dearborn, Michigan, where he saw his father work tirelessly to make ends meet. He says that he always had this thing inside of him that said that he going to be a game changer. He got involved in real estate around 1997, while working other part time jobs as well.

He started doing well in real estate, but life wasn't the way he envisioned it to be. Then, he was exposed to Mike Ferry, and Chadi started to think differently in ways he'd never thought before. His goal was now to make a hundred thousand dollars a year.

He decided to move to Newport Beach, California. He got to work right away and got to the six-figure mark in the first year. There, he was doing one-on-one coaching sessions as well, and being around these masterminds broadened his horizon as well. He started thinking to himself, what would it be like to make a hundred thousand dollars a month?

Chadi got a six figure raise from Mike, but he decided to part ways and start his own real estate business. He took his first listing in the first 24 hours, and secured over a hundred thousand dollars worth of commissions in his first 30 days. From there, he started coaching again, something that had become his passion. Since then, he has been on over 30,000 one-on-one coaching calls.

Chadi adds that the decision to leave a high paying job, to start his own business was scary, but that meant that on the other side was his freedom. He trained his mind to believe that on the other side of his fear is the freedom, but alongside that, he had the right mindset, skills and tools as well.

He adds that being around great thinker, they're constantly injecting you and changing your DNA and you can't help yourself but to level up to just try to get to that level. He says that your environment, and what is around you has a significant impact on you, especially the people that you choose to go out there, hang out with.

Being in a mastermind group helped him form a routine, something he did not have previously in his life, and that changed everything for him. He says that we're a product of our rituals, something that he practices in his daily routine to change his peak and state.

Chadi adds that you would get a lot better results if you are feeling good, as opposed to when you are forcing yourself to do the same. He says that there is no substitution for your work ethic and you doing the work.

Talking about what can help agents improve their real estate game, he says that the single most important thing to master is the listing presentation. Then, you got to identify where the sellers are. Chadi then goes on to share the five steps that will help your listing presentation.

Step number one is, is the introduction. You have to master because your first impression as it is going to dictate the remainder of the listing presentation. While talking to the potential client, you have to use the assumptive language patterns.

Step number two is to reconnect and motivate, again using assumptive language patterns. Step number three would be the pricing part of the presentation. Step number four is to close; nine out of 10-times listing presentation ends right there. Step number five is your marketing plan of action. If you need that, as a backup, share it with them.

Chadi shares the formula and the process that agents should go through before they actually get out of their car to walk through the property, to get them in the right state and to be able to transfer, showcase their confidence, authority and expertise, and get that listing.

He adds that the power of visualization can change your state and energy, and you would walk in feeling completely better, and that'd increase your odds of communicating at a higher level that gets the contract signed. Talking about the different markets, Chadi adds that you can't control what's going to happen in the external market. You have to focus on the internal market.

He adds that regardless of what happens in the market, keep on working on you being the best version of yourself, and your craft to make sure that you're able to service your clients and community at a higher level than everyone else in the marketplace, and as the marketplace does what the marketplace is going to do, it's not going to impact your income.

Chadi says that the next wave of opportunity is going to be ‘for sale by owners’ and ‘expireds.’ So, you got to get your skill up right now while there's few of them. He recommends REDX, Vulcan7 and Espresso Agent for finding those listings.

Talking about if he could change one thing that would have gotten him success much sooner, he says, it would be hiring help. He says that one mistake that people make when they begin to hire is that a lot of times, they hire a buyer's agent before they hire an assistant.

To help people take action, Chadi says that try the following exercise. Grab a piece of paper and a pen and audit yourself, but not audit yourself, looking for all the negative flaws that you possess, because we all have those. Take inventory of all the beauty that already lies inside of you and start looking at that.

He says that what you will discover is that you're much more beautiful than you think to be. You're much more creative than you think you are. You are much more powerful than you ever imagined you could be. It's just that your mind has been clouded looking at things from a different angle and a different lens.

Key Quotes:

  •         “I wanted to become a teacher and change lives for children, et cetera, and then I became a teacher that just makes a difference in a completely different industry…”
  •         “People look at you and say, wow, you're lucky. I'm not lucky. I worked my ass off…”
  •         “The scarier it is the more likely you have to do it because on the other side of your fear is your freedom…”
  •         “Environment is everything, and we can prove that right now because who you are, who we are people that were multiple people, multiple personalities living in one single body…”
  •         “I always tell every single person, if you want to change you, interrupt your freaking damn environment first…”
  •         “When I interrupted that lifestyle and started being around people that are waking up earlier and reading books and doing these things, and I started to do those things…”
  •         “Lead generation is easy. Lead conversion is the hard part…”
  •         “There's many different ways to generate them, but the fastest way to generate leads is through expired and for sale by owner and every single marketplace has them…”
  •         “They have to be engaged because when you engage them, at the end of the pricing card of your presentation, they always choose the right price…”
  •         “One of the things that anybody that's read books, personal development books, and all this stuff we talk about like the power of visualization…”
  •         “Having the right team member on your team is a game changer…”
  •         “If you don't have an assistant, you are the assistant...”
  •         “I think everything begins with you and you already have everything you possibly need to level up and live the life of your dreams. You just got to see the beauty in your first…”

Links/Resources:

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DNRE88 - Kyle Depiesse: Get Out Of The Scarcity Mindset

DNRE88 - Kyle Depiesse: Get Out Of The Scarcity Mindset

August 5, 2021

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

  •         Who is the Clark Kent, When It Comes to Kyle Depiesse? [00:01:35]
  •         How He Recognized That He Was Starting to Get Burned Out [00:04:04]
  •         How He Pivoted From the Burn Out? [00:07:03]
  •         Was He always Open to Having Mentors and Coaches? [00:08:56]
  •         How Did He Find His First Mentor? [00:12:47]
  •         How Kyle and His Family Got Out of Debt [00:15:49]
  •         What is Creating an Experience and Where Did He First Learn About it? [00:24:07]
  •         When Did He Decide to Educate Others [00:29:14]
  •         One Thing He Wishes He Had Implemented Sooner to Accelerate His Journey? [00:33:29]
  •         His Advice for People Looking to Take Action [00:35:38]

In This Episode You’ll Learn:

In this episode, Casanova and Kyle talk about finding your tribe, have more abundance in your life, and getting rid of the scarcity in your life.

Kyle is a former corporate burnout guy, who now creates experiences for people to connect. He likes to be in the background, while creating things for people to step into. Talking about corporate burnout, Kyle says that when you're burned out professionally, it affects every category of life. Every facet of your mental, physical, and personal life gets affected by it.

Around the Thanksgiving of 2014, Kyle finally had the realization, and he wanted to stop everything in his life being second priority to his work. Looking back at the process, he calls it connecting the dots.

He says that looking back, you've got to have a mentor, you've got to have a coach, you have to be with masterminds, whatever it might be having someone to be there with you to help you through that process speeds up the process.

Kyle says that he connected the dots, figured out what he loved, what he was good at and then he started to create those experiences as a result. Talking about his personal and professional growth journey, it included reading a lot of books, listening to podcasts and then he realized that information and knowledge are great, but application is what really matters.

Stepping into entrepreneurship, it was a whole new thing for him. It meant that he had to get help, and be vulnerable. He adds that there are different things you can do. You can have mentors from afar, but people have to understand that at some point they will require investments, and that's really important because if you're looking for someone's time, their time is also valuable.

Talking about how they got out of massive debt of $380,000 in 38 months, he started with budgeting. He says that we can rephrase the term ‘budget’ to how you spend money, and this gives you permission to spend, that doesn't feel constricting.

He says that if you want to get through debt fast, play good defense, but you've got to play good offense. Figure out how to double your income, then cut your expenses in half. He adds that if you focus too much on cutting expenses, you will inadvertently develop a scarcity mindset.

Talking about how he created experiences, he wanted it to be a smaller, intimate, more exclusive group, because you can't get to know that many people. He does it by forcing people into a container where they have to learn it really quick, and that is more impactful than a 90-minute guest speaker presentation when you actually get to live it out.

He adds that finding your tribe is important, because then, we can all lift each other up and we can be better entrepreneurs, business professionals, fathers, husbands, friends, all of these things. After these experiences, they still get together and you're accountable to doing what you said you were going to do.  Kyle says we often overlook that we have the gift of listening, we all have that ability to active listen. You should create your own accountability partners, your own accountability group.

He adds that to make sure you don’t get stuck in a rut, ask yourself the question, how do I need to support myself through this process? The answer looks like building a tribe and building a community of people that can support you, and it looks like building routines into your day. Kyle says that action brings clarity, keep taking action even if it feels insignificant or small.

Key Quotes:

  •         “In the morning, so if anyone's burned out, they're going to feel this, I didn't want to go to work.…”
  •         “Where are my passions and where am I good at something? Connect the dots for that…”
  •         “If anyone's listening and you're in that space, get a mentor, get a coach, get friends that will help, whatever it might be, but that will speed up the process for you…”
  •         “You have got to have someone who is holding you, like, you can’t do it on your own, you've got to have someone that's going to hold you accountable to doing what you say you're going to do…”
  •         “Being vulnerable is not weak, being vulnerable is true strength…”
  •         “You're a grown man, but you have to take some risks in life, no matter if they're spiritual, financial or whatever it was…”
  •         “If someone isn't there financially, you can, you can have so many mentors from afar. You can consume their books, their podcasts, or YouTube, all of these things…”
  •         “If you're looking to go from corporate to entrepreneurship, find someone who's been on that same path and is willing to maybe take some time and share with you their journey…”
  •         “Some people hear the word budget and they're like, ah, it feels constricting…”
  •         “You have to play offense and defense. Playing defense in this example is cutting expenses…”
  •         “You've got to develop a little bit of skill to play defense to manage your money. Otherwise, if you're given more money, you're just going to spend it…”
  •         “When I was getting into entrepreneurship, not knowing what I was doing, I needed a tribe around me, and I sought out that tribe…”

Links/Resources:

 

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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:

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.