Meet The Real Estate Investor With 120 Tenants | Chandler David Smith

what's going on guys welcome to the 33rd ever episode of the iced coffee hour so far you have made twenty eight thousand nine hundred and forty dollars fantastic amazing very good thank you thank you thank you chandler smith everybody thank you i'm excited to be here yeah how many rental properties do you own now um so 114 units of rental real estate and then a 73 unit storage complex wow now when you say units how many properties is that like if we break it down for profit it's a lot of duplexes and four plexes a 32-plex a 24-plex and eight-plex um yeah i think it's like 11 4-plexes and four duplexes or something like that at what point do you lose count i think when i hit 100 i stopped counting property numbers 100 units is silly because it was one property that put me over that but i like units because it sounds bigger wow and how long did it take you to accumulate that many it's been eight years eight years have you exponentially got more as the time has gone yeah yeah like first year it probably can't even count because i like invested in a property and then pulled the money out and then got a condo and then a duplex and then a four-plex and then it just got bigger and bigger every year so how did you do that what were you doing before real estate so it all came from door-to-door sales honestly when i was 21 years old i couldn't find a job applied everywhere and somebody said hey come knock doors and sell pest control so i went out and in three months i ended up breaking the rookie record so i made 96 000 just knock indoors selling pest control was that kevin who did door knocking with you yeah it was i remember that video wow that was with you yeah meet kevin guys uh it was this was in idaho wasn't it so yeah originally he came to idaho to talk about it and look at my properties but then like six months later we had him come out to san diego and we knocked doors in san diego selling pest control yep wow imagine that now imagine going online finding out about your stimulus check and be like wait a second this is the guy he tried to sell me pest control seven months ago look at it that's crazy okay so you're doing door-to-door sales and then then what happened so you won the lottery yeah and then you invested in real estate 97 000 your first year doing that yeah just 96 000. and is that common in that field or is it like it it actually is so our average guy makes between 25 and 30 000 that's like where the average is but our top sales rep this year made over three hundred thousand dollars just selling pest control door-to-door so door-to-door yeah wow so and that's just like still selling essentially the way that it works is if you're a good sales rep then you can manage a team so first year i just sold the next year i managed a team where i trained everyone how to do what i had done so that year i made 144 000 the next year i made just shy of 250 000 and then it's just kind of scaled so now i manage over 300 sales reps um this year we actually did over 15 million in sales just with my people in that four month period so you're still making money yeah from selling past that's more and more every year wow what how do you oh i feel like we have so many questions i want to keep going on this do you have any musicians open yes first question always www.elitesummersales.com wow how do you train somebody what makes them a good salesperson can you tell so from meeting somebody if they're gonna be good at sales you can tell um to an extent i tell everyone if you're gonna be a good sales rep it's a combination of being able to work hard crazy hours being able to handle rejection and then being able to stay positive through the first two because a lot of people come out they have this skill set but then after getting you know 10 f bombs in a row they're like all right this isn't for me so if you can stay positive through that we train you every on everything so pair of verbals non-verbal verbal communication body language everything you can imagine we show you what to say how to say it and if you put in the time like it's just that you show up it's a plug and play system and if you do it we tell you you're a great sales rep what sort of hours do you have to work to to do that so we start at 9 00 a.m we do 45 minutes of training in the morning and then you work until dark with an hour break for lunch so you do that monday through friday saturday you work till four and then sunday you have off so are you an employee if you have to take an hour lunch and it works or an hour your setup is a 1099. yeah so you can do what you want to do that works out great too because you've got a bunch more write-offs right so wow yeah and this is based in idaho falls so it's not really based there we're nationwide we're actually the eighth largest pest control company in the united states and so this year i had sales reps in san diego in houston in dallas in san antonio um in nashville and in atlanta that makes sense because i figured if you guys were clearing 15 million dollars in revenue i was like that everyone in idaho falls must have passed there's like 80 000 people in idaho falls we don't even have an office there we're just in the bigger cities got it why door to door why not online target these people phones yeah um it's a funny question i think for me i couldn't find another job and i said you could make good money doing that however i don't think anybody else is putting on the number of accounts that we are doing at door-to-door if you've got a sales rep that's trained properly you can just reach so many more people and you've got a rep that's there to close them and it's a decision where with the right push people need it and they buy it and so i mean we it's not broken so you know why fix it wow i think this year we did 20 000 accounts online um and we did don't quote me on this but like three or four hundred thousand accounts as a company i make up about um nine to ten percent of the whole company that i work for so i'm one of you know 10 guys like me that manage groups of themselves wow that's incredible so within just what how long has that been since starting within 10 years now you do 10 of your sales yeah yeah it's well that's the thing is when i started we only had 400 sales reps now we've got 2500 to 3 000 depending on where we end up this next summer so why couldn't you have taken equity in the company i feel like at that level they must have have they offered you a percentage ownership yeah yeah so um and i don't i guess we can share this but we have something called ltip and every account essentially gives you a portion of ownership and we are planning on either going public or selling a portion of the company in the next five years i think our owner wants to hit a billion dollars before doing that yeah um but with the amount of l-tip points i have if we're able to sell for a billion i'll have a 10 to 15 million dollar payout from that l tip so that's wow for the next couple years that's crazy so why then real estate and then why then youtube after that yeah and also everyone um go ahead and subscribe to the channel smith okay let's get him to a hundred thousand subscribers that would be awesome you're at 92 now right yeah i was hoping to get to 100 by the end of the year but i know there are 100 people watching this that are willing to subscribe we got taylor to uh 5k because i said in the video guys we could give her a 5k we did that uh i think it's only fair we get you to 100k if you get into 100 that would be awesome we could do that so just before you forget go down in the description go and subscribe like the video as well thank you so much but if you're doing so well in this pest control thing why would you want to expand into other things it's like graham just put out a video saying that he doesn't want to buy real estate anymore because his time is so well spent doing youtube so why would you choose to go into these other fields investing don't just make this youtube sorry yeah it's a great question on one it's fun to do other things but i think the biggest reason is you know after i'd done a year i made 96 grand i didn't spend anything i was very very frugal early on so i was living on you know maybe 10 grand a year if that um and i wanted to put it somewhere safe so i reached out to a mentor one of my buddies dads that had done really well and said where should i put this and he said real estate so i started looking at bigger pockets reading books doing all of that i looked at properties for a year and a half before i did anything but really it was because i now had this money and i didn't want to blow it i wanted to find a good place for it but once i got that first deal and i was getting those checks every month it was just addicting like i wanted to build an empire and so that turned into the condo and then the duplex and then duplex and fourplex and what i found with real estate is it's really addicting to buy and see that money coming in but it also is just another cell and so when i could find a property that i could add value to and purchase it and immediately raise rents and now it's worth twenty thousand dollars more and then the next one's fifty thousand and you know this last year i bought a property that within three months of raising rents it was a million dollars more than what i bought it for and so it's just really addicting so that's where the real estate came in um when it comes to youtube it's you'll probably laugh at me but i loved watching graham's channel like fanboy for sure early on but there was this sense of like i think at the time you had three or four rental properties and i had like 44. no it might have been like no because it started i think i had five it must have been fine maybe that's what it was yeah but um when i really started watching you i think i had 30 or 40 units and i was like look at this guy like people love him he's growing youtube channel it's super cool i've got like five times as many units as he does i should do that yeah and i really liked what you did it was inspiring to me um i learned a ton from it and so that was originally why i wanted to do it but the other reason is i had so many sales reps and other people coming to me and saying chandler will you mentor me will you show me and i figured if i put it all on youtube then i could just say hey go watch these 10 videos and then we can talk but then after doing 10 videos it's kind of addicting too yeah so then i'm just kind of hooked on trying to build that and they all work together the youtube channel has found me real estate deals and it's found me power players for my sales organization and so they all feed off of each other you know the more people that i can find come work for me the more my sales organization ticks the more properties that i can buy and it just kind of all worked together so i just kind of scaled all of them tell me about this place you made a million dollars on okay what about that so it's a 32 unit complex is that the one that took you over 100 likes um it was okay yep and when i purchased the property rents on every unit averaged 496 dollars and i knew that those properties could be rented each unit at 8.50 easy purely because i'd done it a long time it was an old owner that hadn't raised rents in five or ten years it was off market and so when i saw i was like holy crap this is one of those deals that you just dream about so we put it together purchased the property for 2.2 million dollars with rents at 496 on average for each unit and they were already within three months up to 850. now that is a little bit of an exaggeration because what i said is if you stay we'll do them for 800 if you leave we're going to fill them at 850 and a big chunk of people left big chunk of people stayed um but we had all the rents at either 800 or 850 within three months so how did you find the deal so i have become very connected in my area i'm definitely not on the mls i think everybody hops on the mls and they think that's where it's at i had a particular realtor that i followed up with consistently for like years because i knew he had a bunch of older owners that he had helped to purchase property and he had been telling me for a long time like i've got some of these i think they're going to sell and so just keeping that relationship forever consistently following up so that years down the road when it did and i probably won't get into their backstory but essentially some things happened where they needed to get rid of the property and they hadn't added any value they hadn't raised rents they hadn't done any of that because they had the property paid off and they were cash flowing great for what they had originally purchased it for so i went in i did overpay slightly um i think i bought it like a six cap seven cap somewhere in there for what their rents were but i knew no doubt i could get them up the only tricky part was the bank was a little hesitant because they didn't want to believe i could raise them so much so i talked the seller into giving me ownership of three of the units raising them to 850 so the bank was chill with me then making the purchase and then we raised yeah how did you finance that it was it just did you have a partner on this deal was it just you it was all me okay yeah so thirty percent down okay on that one um how much did you buy why couldn't you just buy it with just 30 down that seems reasonable to me what do you mean the property couldn't why why show the bank that you need to raise the rents because the numbers were so tight that they were questioning my ability to have it be profitable does that make sense yeah in idaho like out here they'd sell it but in idaho they're requiring a certain amount of cash flow to lend on it especially with how young i was yeah now granted i built a really good relationship with the bank but it was edging on their number that they're comfortable with um because it was it wasn't cash flowing very much i think on the year like maybe a couple thousand dollars a month in cash flow for a 32 unit complex at that price okay um so being able to go in and and bump the value it doesn't make sense that you can literally double dominance on a 32 unit complex okay so once i get proved to them hey i did it with a couple units so then i when i did it with all of them the bank loved me and i bought another property the 15 plex this year from yeah same thing but this time i didn't have to argue with them at all they're just like all right so what happened with the tenants i bet you were not very popular with the tenants you've been there for a long time this is why i love not managing my property yeah i have a management company that deals with all of that but a strategy i've used that i think has been great is sending a letter that says hey we're new management you know obviously i think they put it together taxes are higher expenses are higher all of that rents for this property will be 850 however if you choose to stay because we want to take care of you they're gonna be 800. now the people that live in these these weren't ghetto properties these were nice properties everyone in there knew they were getting a steal they also know that if they go to look for somewhere else to rent they're not going to find anything for cheaper than that 800 and if they do it's going to be divier than what they were living in so does it suck for them yes but a lot of these people had been there forever knowing that they were on a cash cow themselves and so yeah like we got kickback for sure but people were on a month-to-month lease every whoops every one of them was month to month so when we did it wasn't like we were you know ruining their lease or making them leave early or doing anything sketchy it was just hey this is what they're going to be if you want to go go if you want to stay we'll give you a discount that's the issue with uh la rent control in california why it's so difficult is because there are so many properties exactly like that in california that you can't raise the rent more than three percent every year so the owner just screwed themselves there but then you also can't get rid of the tenants without uh just cause and just because you don't want them there the rent slow you can't kick them out either so you're kind of stuck with this so that's what i've the issue that i've dealt with with with my rentals i raised the rents maximum every single year on all my properties but i give the tenant a credit back so that for them they said they have the same thing over the year but for me i get to show that at least i'm raising rent so that if something were to happen and if i were to sell uh then technically they are paying market rent totally well and i think that's what i love about the area that i invest and obviously there are pros and cons of everywhere but if you look and i don't want to share my secrets everyone fled to idaho but we've had just as good of appreciation as california as a matter of fact we've been top five states the last couple years and so when you've got a place that's getting the appreciation property values are going up but also you can do whatever you want with rents rents have exploded everything has exploded so buying real estate there not only are you getting much beefier cash flow but now you've got this huge value add and appreciation that's happening naturally so yeah have you had tenants in there not pay their rent yeah i mean i think i think everybody deals with that but overall no um i don't know if you've seen this video i had one really gnarly attention i love that video with jack put a b-roll of this there's a guy sitting on a chair with his girl in the lap and they're getting evicted and it was a wild video kevin's video no it was kevin's but kevin reacted to it so what happened i invited kevin to go out with our sales guys to puerto rico and i showed it to him because i had i'd filmed it and it was sketch but i have confrontation all the time on the door so i was like let's just go see we knew we were evicting him that week i wanted to try and talk them out of it so we didn't have to pay to have them like taken out of the property which we ended up having to do anyways so i just thought maybe i could sweet taco maybe i could bribe them maybe i could figure something to just get them out and i was a youtuber at that point so i figured we'd see what would happen i won't do anything like this again because it was sketch yeah and what happened is i went i got them super calmed down i said look maybe there's been some miscommunication with my management company i'm the owner i just want to make sure we're taking care of you would you mind coming out sitting down i want to interview you and just learn from the experience and so he's like yeah i can do that but i don't want to throw your management company under the under the bus like he had a good relationship he just didn't want to pay rent and he was on drugs so i talked him into coming out we sit down we start super calm and then things just get crazy i don't know if the drugs remind us what happened because i remember watching this episode start to finish loving it i mean it was like a jerry springer episode real estate edition and i thought like i remember thinking to myself like you're crazy for doing this like this guy could have pulled out like a knife or like just straight up has gotten up and he's a big guy yeah and uh like just could have pummeled you or just oh and then just the dynamic between him and the girl have you seen this no i haven't pull up put b-roll up here watch this now i'm sorry but but he's got this girl on his lap who's just like just agreeing with everything he has to say like backing him up she's like on his lap like it's a middle school stuff like you don't see adults doing this this is what they do in middle school did you have any backup so i just had my videographer here's the deal with door-to-door sales i have people pull guns i have people chase you down like we deal with lots of stuff and we get really good at calming people down and so i wasn't that sketch but it got to the point where my videographer he'd never been in a situation like that and when i looked up and he was shaking and his face was white i was like all right we got to wrap this up because i could tell and it got pretty tense i who aren't going to watch the video just describe what happened so essentially the girlfriend was ready to say look we know we haven't paid rent yeah he was accusing us of a bunch of damage to the property like you sold me a garbage property they walked the property all the windows had been broken by them if it had been flooded by them they were on drugs so it was just a terrible situation they totally trashed it if you watch my other video you can see how terrible the property was it was just a bad tenant i mean one out of every hundred every couple years you get a bad tenant and this one i think our screening has gotten better since then this was it was bad but essentially he gets fired up i don't know what happened and he was trying to talk me into letting him stay and fix all the damage in the property that he had caused and so that we could be good and live there for free but then i asked him are you trying to get free rent and he's like no i want to fix this for you i oh you remember yeah it just didn't make any sense he was just on drugs so what happened though is i bring it back i show my wife i'm hyped because i'm like man everybody on youtube is gonna love this yeah they did and no she's like you're not posting that that's not you this is like it definitely came off wrong for me to film it and post it so i let months go by like not gonna did it i remember i watched i didn't think it was that wrong but then again i'm a landlord yeah so tell me yeah i think me if i would have posted it i think it wouldn't have come off right but when i'm in puerto rico with kevin i show him and he's like dude kevin of course yeah you can ever not want to listen to kevin you gotta freaking post it and i was just like man i don't know that i want to what if you post it and just critique me like you can have the footage you can do what you want with it so he posted it and he was brutally honest with it like he said chandler should have done this different and so then i'm like it kevin kevin was it was a good video it was critique it was good i feel like i did a good job he picked out some things i could have done better um and so then i responded to it and then people wanted to see the whole video so then i posted anyways yeah but it was good because it was more of a learning experience so kevin doing that made it good to share good for kevin yeah but in the future don't listen to everything well if he wants to post it i was good with it next thing you know you're being sued by uh here's the deal kevin for me has been a game changer for my channel i don't know why when i had no subscribers he was willing to fly out look at my portfolio he's giving me tons of advice yeah you you know he's yeah of course he is so it uh no negative things to say about kevin he's the freaking man okay let's say one negative thing about kevin one night we gotta all say one bad thing what would be um he needs to sleep more he's like it's unhealthy how much is he sleeping i thought he's sleeping enough i so when we were in puerto rico we would get up at seven we would go and play until midnight and then we'd hang out and talk till two and then kevin would go and edit for three hours he'd get two hours of sleep and did that every day yeah okay so but i have always thought that those are like short-term things like him and i would take these trips and yeah he'd be we'd be up until one or two and then we'd go to bed but he'd be up at like 5 30. going on a run yeah like and then he would come back with with a coffee at like 6 30 in the morning all right guys wow but that's how he gets so much done he drinks so much coffee and he doesn't get a lot of sleep and there's no way you can post five videos a day and be getting the right amount of sleep and having two kids and a wife and everything else he's got i really want to see behind the scenes of what he does like i i the brutal honest truth for like his life i'm not saying he does anything but like how he structures his day like what that's really like for him yeah i would i would love to get singing the same thing of you i get dibs on maybe but i get dibs on on that video idea that would be if anyone wants like i i would love to do a full day in life actually if you have to follow him for like a week too to get a real real perspective i think the thing that's crazy about kevin is i work with hundreds of sales reps and i feel like and i mean i'm sure you feel the same way but you're pretty confident you can outwork most people and being around kevin anytime i've done videos anytime i've done anything with him i feel outworked oh yeah i can't and it's just like he's not yeah yeah but yeah no with kevin i know i can't outwork him and i realized too with him uh if he sees someone else doing something he's got a personal thing to go and do better yeah always it's so he'll see someone and he'll be like all right i'm going to find a way and i know he's going to do it yeah because he's got this determination where he's not going to quit until he does and he's just the amount of time he puts it like i can't compete anymore like i've just given him the win on that like kevin you win you win well i think i remember you and i can't say this is exact but yeah when you blew up and i think i don't know the timing but you had this period where you were killing it above anyone else in the finance space and i feel like it was very much uh hold my beer and he drinks up to five videos a week yep 100 it uh it's incredible yeah no he's i i've calculated because i watch everyone's statistics on youtube like everybody and he's going to outpace me in views uh in about 40 days or so maybe 45 days you've done the math yeah and that's him on the main channel his channel against all three of my channels seriously because of how much she's churning out i'm just like i've get i've accepted that and you've got podcasts that are an hour and a half long yeah i know i've accepted that so kevin you you win he is amazing for now for now pretty soon he's going to take my girlfriend take him down i don't think that would go really well it'll uh he'll take ramsey take bailey kevin you can take that i'm kidding it's all in good fun i think i think it's just a healthy there's always been a healthy competition i think between me and kevin well it has to be cool yeah with the time you guys i know being around kevin raised my vision a ton yeah i'm sure you felt the same way it's cool to be around people like that because it makes you think different and it's a good thing definitely but let's go back to you talk talk tonight a little bit more about your first investment properties did you pay cash for your first rental so um it's funny because my real first investment property i had all this money in the bank and i gave someone a loan they had crappy credit they had 25 to put down on a property that i knew they'd gotten under market value and so i loaned them i think it was ninety thousand dollars at a nine and a half percent interest rate and if they didn't refinance within it was either a year and a half or two years the interest rate bumped two percent every year um so they refinanced out without within two years and i got all that money back so that was the first real investment that i had done um after doing that i think it was a year after i bought a condo for seventy thousand dollars in cash that was the only other property i bought cash and that was my biggest mistake it was a good investment property but from then on out i am super anti did you ever pull the equity out or did you yeah so actually 10 31 that i think i sold it for like 150 a couple years later and then moved that into one of the four plexes that i bought um so after that i bought a duplex and then i kind of went ham in one year i bought that duplex a duplex and a four plex and then the next year i bought an eight plex and i think a couple four plexes and then it just kind of went up from there my first big one was that eight plex and then i did a 24 plex which was a big jump why are you doing multi-unit housing why not single-family homes um scalability and here's the thing people stay away from the bigger stuff because of financing like 30-year fixed lower down payment all of that stuff is incredible and so when you're starting that barrier to entry it's awesome when you can get great rates great terms but when you can scale and you see it's a value add opportunity then you've got 24 units that you can raise rents on you can increase the value crazy and i was making a lot of cash i got in a point where i couldn't find enough single family or duplex or even four plexes to keep up with the money that i had coming in and so i had to look elsewhere the 24 plex fell into my lab because it was a seller finance deal so that was really nice because then i could get it for a lower down i could get it on a 20-year fixed at pretty decent interest rates and still acquire you know a big chunk of real estate with pretty decent financing how do you find the time for that stuff yeah um it's a great question i i was talking to jack before i'm like pretty overwhelmed with everything i've got going on we have 550 sales reps that are signed to work for me this upcoming year the rentals i think the biggest thing is that i have a management company so when purchasing rental properties i have a bunch of relationships that are feeding me deals but i only put in a lot of time when it's like due diligence jump on the properties and i've got my people trained to where they only bring me deals if they're good deals so i'm only analyzing the deals that are pretty decent so i don't spend a ton of time doing that and then once i get them under contract i throw them over to my management company and i don't do anything i probably spend one to two hours a month just looking at the rents and making sure that everything looks right when they come in every month so do they do the remodeling and everything uh-huh they do they didn't always but the guy that manages all my properties he just does my properties and then just a couple others and he knows where i'm at he knows what he can spend money on he knows all of that now i still have some checks and balances that i look over every month but he's incredible and a lot of the renovations i do i'm not like your renovation you did i would never touch a renovation i know when i do a renovation didn't you make a video on on that i think i made pretty sure you did you made a video on it yeah i think you did maybe i think i know i thought about it for sure it was either you i i know kevin made a video on it um let me see because i i remember seeing a video on that i told kevin to make a video on that because i don't i've tried to never dig on you super hard let's see i've like this is on your renovation yeah uh i thought maybe it was you uh i know maybe not there's someone who made a video telling you they made one a lot of the renovation which i agreed with with them for for the market they were coming from a different bar i'm like yeah in any other market other than la i would agree with you yeah well the thing is for me it's all about the niche you pick right i mean that was an overwhelming renovation you did and you kept finding more and more and more with my renovations i make sure that i know going in it's floors it's paint it's lighting and maybe cabinet stuff yep but it's all those little fixes so i'm throwing five grand to the unit if that and it's good to roll and so he knows all right this is what we're gonna change this is what we can salvage he's super thrifty super smart so that it's gotten to the point where he'll call and say hey i'm doing this renovation this is what it's going to cost this is what rents will be too and we're good to go so are you ever nervous that he's going to go and do this on his own um not necessarily because he has right but he's making six figures because of what he makes off of my properties and even if he does it on his own he's still gonna be managing them on his own and he's like anybody he wants to scale if he could have a thousand units to manage he would want that now when it gets to that point do i have concerns that maybe the quality of the way my properties are taken care of will go down yeah but i've also built a relationship where i try to really take care of him and it's advantageous to both of us he manages other properties and a couple of those are his because he's gotten the money to follow the same model so and what about your home living situation while you were buying all these investment properties did you ever house hack were you living in like duplexes or did you just like all of a sudden start making a bunch of money and then buy a really nice home so that's my biggest mistake looking back i just rented for a long time you know the first couple years i was even married um we were just renting a place and the reason for it is the school that i went to required you to use their housing um when i was single i know that sounds dumb but it's byu-idaho and they've got a weird thing there so i i couldn't buy a home and live in it and attend that university so you were attending university while selling pest control and everything yeah making all that money mm-hmm yeah did you and you graduated uh no yeah there we go just proud that's the right choice happy as he's been right choice i uh i have seven credits left to get my accounting degree but go back right now man it's it's for they make you do an internship and i didn't want to lie i've had a count and say dude we'll just check you off but what's the point of getting a degree when you just cheated on it and you don't need it anyways like yeah yeah it didn't make sense to me so i could still go and finish but i'm not going to was it i haven't really i was gonna make a video about this i i haven't like 100 all in but it's yeah i haven't been taking classes was it difficult to drop out yeah just because it's a cultural thing and your whole life that's something you need to check off like it's a guilt thing and so i still have and and this is the reality and in my job i was making you know my net worth was in the millions i would still have people come and be like hey so are you going to finish school and that was their most important question to ask me it wasn't about anything else it was about school so i'm over that now but it uh that's why i hung on so long when did you quit renting from the student housing um so once i got married the way that it works is then you can get your own housing but we had a bunch of friends that i did the door-to-door sales job with so we rented an apartment where all of us and our wives lived in the same place so it was super fun that's funny rent was super cheap at that point we were buying rental properties um i think i had like 15 20 units by that point but we were paying 700 bucks a month in rent just living close to our friends um then we bought a house that i did all kinds of funky stuff with i did like at least to own and then i sold it um made a ton of money on that and then moved into what we're living in now so we bought a house for 420 thousand dollars two years ago so yeah and you are buying a new house or building a new house we heard you gave us a little taste of what it is before the podcast but we had to stop you so we could get more information while we're live on the podcast tell us a bit about the the home you're building so i feel like everybody's gonna think i kind of lost my shiz this year because i bought two cars from the strad man and we bought the 15 plex and we're building our dream home um the home is focused on my business so 8 000 square feet of it is home space the rest is a basketball court a big like locker room poker area a um indoor swimming pool it's just kind of like is that is that for tax reasons you could you could designate hey we got plenty for the employees you told me it's 18 000 square feet total guys 18 so 10 000 over half of the home is gonna be business use basically yeah well and the thing is is i spend a ton of money like this month i rented a place for i think we paid like four or five grand to bring all of my leadership all these talented sales reps out to do stuff with and now i can do my house like it's set up to be able to have 50 plus guys come and not just come but like have a freaking blast at the house so it it worked well for what we were wanting to do but yeah for taxes we're gonna we're gonna work some things for sure and you're building that place uh-huh yeah here's the crazy thing and hopefully you're okay with me saw me listen tell me square footage on this house what is it uh 20 about 2300. okay lot size uh 8 500. so my house is on four acres it'll be 18 000 square feet and it'll cost less than this we'll be under 2.2 million built how how much is land because 18 000 square feet i i'm guessing that's got to be about two 200 a square foot on the low end to build that i'm going to guess the thing is so much so much as basement space okay can you really count that as square footage though um technically or yeah i mean it's it's space the thing is is and i don't know if you do basements out here but basements are cheap like you can do nice basements i'll show you the finishes but nice basement at like 85.95 a square foot so you save a ton of money you've also got a basketball court which is a bunch of dead space you've got a pool which we did a fiberglass pool which is super cool which was pretty pretty inexpensive and then just the space on that um so yeah i'm calculating like 18 even even at a hundred dollars a square foot is gonna put you a one eight a hundred dollars a square foot plus land i'm guessing has to be 400 so 400 now now we're at 2-2 without any carrying costs or anything how is it less how is it less than this so what do you mean how's like i think we'll be right at two to one you see a hundred dollars a square foot uh that seems too cheap that seems too cheap yeah i i think wow a lot of this is so much like you said it's basement it's dead space yeah if you like i can show you the bid on everything if you guys want to see it but even the basketball court i'm thinking like okay sure we're not putting like bathrooms and stuff like that but still i'm guessing like the foundation of that the roof that that's got to be i don't know it's 50 grand 60 grand building is so much cheaper really there though yeah i mean even we're still doing new build homes that are 4 000 square feet like my brother just purchased one i think he paid well like between three and 350 for his 4 000 square foot new build home so it i mean yeah it is what it is i think yeah the only thing you got to remember that is including garage space okay which is also extremely cheap okay and in the garage space i've got room i think do you want to see the house plans yeah i do okay these are the garages and the total square footage in the garage is two thousand uh one hundred uh so eighteen thousand square feet i mean really you're okay you're like technically you're less than that because the other thing and again the 18 000 square feet sounds cool but under this two-car garage we also did basement but it's not necessarily finished it's just framed in for storage so that's another probably 1 000 square feet here under here we also did it but we're putting in a locker room for the guys to go to both so can you screenshot whatever you're comfortable yeah yeah so and i've done videos on all of it all right so 18 000 square feet but a lot of it isn't necessarily house yeah i mean you've got a lot of garage basketball court so garages alone are we look 2100 you've got another thousand in the locker room which is pretty simple space another thousand just in storage area and then the basketball court is 52 feet by 30 something feet so i do have a very important question yeah are you extending an invitation always to your playhouse yeah definitely you guys come over oh we got so many invitations we'll have to did you see grant's place yeah grant navarre yeah expect it uh what's up next week or something two weeks two weeks it's gonna be crazy it looks like a manner his place looks like you would like you've seen in haunted house movies where you go and there's like a big mansion at the top of the hill that you'd like don't want to spend the night in it looks like that like it's that it's massive well here's the thing i've come to find when we're building is you've got the one dollar per square foot that you use for rental properties then you've got the four dollars per square foot that people use for like higher end spec homes and maybe even a little bit of that but then you've got ten dollars per square foot for the stuff they're bringing in from europe and all of that like we don't like that stuff we like the you know mix between modern and um contemporary look and if you stay in that and you don't spend on the lavish absurd stuff you can get a ton of space that's really nice super quality but then i see people that are dropping you know crazy money just on the fixtures like the gold fixtures or i mean you can go from paying four dollars for one of those to sixty dollars for one of those and i think that's where on the higher end homes people go nuts no we're not doing cheap but like i don't think that's necessary for what we're using it for does that make sense yeah so so you're doing all this in a year though so you bought stradman's ferrari yeah the 458 and then you bought his corvette what else are you going to buy from him um did you try to buy anything else no i here's the thing i was gonna talk to you about this yeah um so with the cars they're kind of unique i got into a situation where i had a lot of cash flow that we'd been saving up for the home from the properties and my goal has always been to live within my cash flow so super frugal early on but then when i started buying these bigger properties i was having a lot of cash flow come in it was kind of building up because it took us a while to get to purchasing our home so we had that money however after purchasing the c8 corvette and i had launched my course i saw how many people that brought over and i really wanted to buy another supercar it helped my channel it helped my sales business i let all my guys drive it like it was a cool fun thing and so i reached out to the strad man and was like hey i think i want to buy another one what do you think and the ferrari 458 was one of the cars that i wanted well he goes and buys it so when he buys it i'm like dude you bought the car i really want would you ever sell that one to me as well and he had different plans for it so he said i'll let you know if i do well he reaches back out and says a month later i'm going to sell it do you want it and i wanted it but i was also you know i'd spent a lot of money through that portion i was kind of hesitant the c8 was the first car i bought so i kind of pitched it like i'll buy it at the price you bought it and you've already put 3000 miles on but would you be willing to pitch my real estate investing course because i'd done pretty well on that course and he agreed to it he checked out the course looked through it he was happy with it and he said let's do it so by purchasing the ferrari yes i could afford it but then i essentially got it for free because of what we made that's really smart did you make a video have you ever made a video about how you got the ferrari for free no i feel like you're milking all this out of me because i was hesitant to share course sales i don't i love the course i feel like it brings huge value yeah but i've always given everything away for free and i've tried you know what i mean like it was uncomfortable to be like this time which i made guys i'm gonna link it down below so now you have to explain it so i'll link it down below but in return you have to show how much money it's making because i'm curious okay so um up to this point i've made 215 000 okay off of the course and the majority of that came in after the ferrari porch purchased um so yeah it's done it's done really well i think the other thing that is cool about the ferrari purchase and this is something the strad man taught me but because i have that's my fifth vehicle yeah i only use it for youtube like that's it i'm always recording when i use it so that particular car i can write off as a prop oh yeah which means i can write off the entire car year one stradman has been trying to talk me into a ford gt and i really need a cool car to park in that garage space in las vegas because there is going to be a car did you watch my uh house tour video yeah i did okay so that you had that garage space in the office it it won't be as cool as stradman's car on the wall but it'll be pretty free i know um i was thinking the ford gt would be a car and and this would be would you get an older one or like newer 2005-2000 um let me know what you guys think uh this is the first time i've ever brought it up my my fear is being a guru that i am this guy who always talks about being so frugal and uh you know i'm still using those towels over the lights instead of diffusers still doing everything on my own same camera i bought a used camera on ebay uh and that's like for for the for the vegas place but uh and then you have this expensive car in the background so i don't know if it would be too like hypocritical to do something like that well this is one of the things that is really difficult and i think we've both been in this situation and i've kind of made the jump off the cliff where i've been frugal my whole life i've been very smart that's how i was able to purchase the real estate i was but when you set a goal and you say hey you know if my passive income can afford it and your active income gets to a point where you're making a ton there too like what's the point of money if you're not going to spend it and we're both in businesses where cars do move the needle and for you it might be different you're branded as the frugal guy but it's opened a ton of doors for me in my sales business um and that's a that's a different thing for me but when they can take the c8 like we'll go to activities and i'll have 50 guys go and test drive the c8 like that's huge because they're sharing on instagram they're sharing it with their friends that's a great opportunity for me to find good leaders good sales reps other good things so with that with youtube with everything else for me i felt like it definitely made sense but only because i also really wanted one of those cars yeah i don't know i feel for me it would almost work against me to do something like that because then i then then the guy changed yeah then the guy makes a whole bunch of money and then starts nice nice places in vegas and a car and stuff like that he already did the nice place in vegas but that's cheap that's because it's cheaper than this and because of how much money that saved the car is something that will hold its value will go up i i i'm guessing it'll go up about five percent a year um but then i'm tying up all this money in a car that could be invested or doing something else yeah diversification you've got to invest in all right yeah i don't and it's hard and i it's funny this is a video i did make because i feel like for sure you're a little pinned like your main interview is youtube and you branded yourself in a certain way and that's it's hard to to work around that but at the same time um people follow you because you're relatable but i think people are hoping that the principles you teach them will help them to acquire their dreams maybe i'm wrong but i don't think they want to be 60 years old and have none of the things that they've envisioned or wanted their whole life by taking all right am i wrong in saying that uh i mean you could ask the viewers comment down below let me know what you think but i'm a i think it's kind of funny to be that like that that one day be that like old guy who's constantly like with all the money in the bag and be like are you doing spending money what are you doing like i find that funny like uh my i i love this uh uh my buddy brandon's grandpa was like 103 years old completely self-made and he must he must have had like 200 million dollars with the real estate on beverly boulevard in los angeles right by the beverly center this is like prime real estate he owned the entire block that he just accumulated over a decade after decade of j and he would sit there and i love this he brandon said he was the cheapest guy in the world he would i'm not advocating doing this but when you'd go to the restaurants he would take like the salt and pepper uh little packets and stuff them and take them home because he just he want he always wanted to get a deal and he always wanted to feel like if he's going out to restaurant spending money he wants to get something back for that uh but apparently do you really want to be that guy but i think it's funny wait the story continues but apparently it got so bad that uh his daughter so brandon's mom would have to check his pockets before they left because he would take the silverware because he's just silver yes because because i know i'm not advocating this i thought it was funny that was funny but his mentality was that i'm over spending on this food here it's just too expensive so if i take something back then it's even and this guy this guy was worth hundreds of millions of dollars and the best part of all of this is he would still go into his office every single day even though he didn't need the money for no reason all he would go to his eye he'd like to be in the office every day and he put his office right next to the vending machine and his favorite time of the day was when someone put in a dollar in the vending machine they get a soda immediately as the person lefty go out with a key open up the vending machine take the dollars let's sit down that was he loved it funny like i look at that i've always related to that in some way or another just like oh taking the dollar get the dollar like i just something about that yeah no totally and i i have two i think a lot of people that are successful can relate to that the thing i recognized is and this can be turned back on youtube but the way you do anything is the way you do everything and i really wanted to have or evolve into the mindset of there's enough to go around yeah and making this transition it's interesting because it's helped me treat my employees better it's helped me take care of my people better like when you make that shift that their money is always going to be coming in i feel like yeah it's helped me to get more things and those things that motivated me but it told me to share those things more too yeah and people like that i've i've very rarely seen them be generous people am i wrong in saying that yeah no you're right on that and so i think they go hand in hand and i'll tell you my favorite part about the ca corvette is when i toss the keys to a guy and i'm like go do whatever you want if and obviously i hope no one ever crashes it but if they scrape it if they do whatever like that's why i got the car is to give people that experience to help them get that vision to help them see like holy cow i love cars i love this i know you love cars and having something that you can work towards and you do it the right way by creating passive income first that you're motivated to do that i feel like that's huge it's a big motivator yeah i don't disagree with that at all i guess my biggest concern is is uh is being that guy who made money and then started spending it on frivolous stuff yeah well and i will be the first one to say i have struggled you can look at my instagram my brother gives me a hard time about it when you get a car people love cool cars and then it's hard to not include them in your videos because you instantly turn into tai lopez because people there's this big majority of people that want to see it and they want to experience it and that's really fun but then i've done some videos where i'm like oh that isn't that isn't the direction i want to go so i see that being a bad thing too i don't know i i look up to people like dave ramsey and i'm like what what would dave ramsey do and he's mentioned before that he has a few cars in the six-figure mark we've never seen him ever talk about one of like which cars he has or driving his cars or so i look at that and i'm like that's a good example of kind of where to go look at dave ramsey what is he doing he's respectable so it's maybe i i don't know i don't know see if i had to pick idols he wouldn't make top 10 for sure for me for me dave ramsey would be top three other than dave ramsey who would be yours joe rogan dr phil [Applause] i love all those guys yeah i i love dr phil i really do i look at his career uh joe joe rogan i think is the coolest of all of them judge judy's had one of the best careers uh dr phil i love his platform dave ramsey i like his just he's very grounded yeah so it's really just good core principles sticks with them yeah yeah yeah i like you know what i like and really respect with dave ramsey that he doesn't waver that he has his way that's it he's never changed his course he's very con convicted of one thing and that's what works for him yeah see it's interesting because i've got all these people that i love learning the way they invest i love the way they view money but i don't think any of them would make that for me i think for me it's like my dad my grandpa all the people in the way that they raised their family and the way that they taught their kids and and i think that is an evolution just because i have kids now where it's like man that is most important to me is the way my kids view me but it's hard that's how do things change with kids um how old are you now so i'm i just turned 30. wow we're the same age yeah how old are your kids so three and one i can see i can't imagine having a kid i can't like that seems so like like bailey has been er macy's the one who deals with bailey but has been like there's a puppy and then i can't imagine like that times 50 or whatever i don't know yeah well i think it just changes everything because everything i do everything i do your kids are watching and that's affecting who they're becoming so i don't know that's what like i love what i've done on the financial side of things but the end of the day how they turn out is more important than anything else and the only people that i follow their role models is because of they've had that impact on me you know so i don't know i i think the biggest difference is just your time i never have a minute in the day where i'm not thinking all right this has got to be good because it could be time with my kids that makes sense yeah so okay yeah speaking of dave ramsey i am so curious how much debt do you have um a good amount i think like seven or eight million i got it all ready on a spreadsheet so we could talk about it it's not as bad as what i thought though i thought it was going higher you're gonna record graham stefan reacts to my investment portfolio right yes if you guys want to see that that it that will be on your channel it will yeah we'll link down below link down below in the description yeah all right well and it's interesting because when you buy real estate over a period of time and all these properties i'm putting 25 to 30 percent down when they're value add properties you're adding a bunch of equity into the properties really quickly so um the debt isn't nearly as scary compared to what you owe because you've been paying them off for one but you also have added value by increasing rents so um geez that sounds scary though seven to eight million no it's sorry i blanked out for a second my mind is going somewhere totally unrelated to anything now going back to the debt um so jack just say 7 million seems like a lot seven million seems like a lot yeah it it is but at the same time i've got so much equity in those properties that it it isn't yeah what's the total worth on that so when i'm 14 yeah i think i'm like 13 14 million in properties so about 50 it's not that's not that bad mine my total debt with that i think minus four um and the properties i think are worth eight and a half something like that nine so it's it's less than fifty percent so i don't i don't think your debt is bad at all for what for what you own no especially i mean i always keep six months reserves minimum and a lot of times i'm pushing a year on that so like what's the worst that can happen like even if something terrible happens you lower rents and you're still cash flowing you're still able to pay your mortgage so i think people just stress on debt way too much that's a big reason i'm not a dave ramsey fan is i feel like that's an incredible tool used properly i also understand why when people use it incorrectly it can really bite them i want to know what your total debt payment is every month my guess is seven mil you're probably paying about 34 thousand a month i'm gonna guess right you're good yeah i think when i did the math it's like 37. oh i'm close yeah that's a joke it's gonna say 37. yeah so uh it's good and with those numbers i didn't include the um storage units well actually no i think i did how much does your storage unit make so we're still figuring that out but i think we'll have uh probably like 12 percent cash on cash once we get the numbers where they should be when we bought it i think it was only like a eight or nine because we've got some work to do on getting them up but again old owner hadn't raised rents in forever yeah a lot of value ad opportunities those are the deals i love when i see them i know i don't really have to do a lot of work but i know they're way undervalued because an older owners have had them forever and just hasn't raised rents and so and what's your goal with all of this like how many units are you trying to buy what's do you have any plan if i'm honest um i hit like a weird point because it was always 100 units was this thing where i thought i'd have all the cash flow in the world it's become addicting i love finding good deals i love negotiating them i love to do diligence on them that is the one thing that's never felt like work like finding and buying real estate is just a passion it's fun it's a hobby my wife makes fun of me because excel is my hangout like i like running the numbers on properties so um i've let off the gas a little bit because we had a big year but i'm sure i'll always buy property um i'm trying to figure out what my next goal is if i wanna say i'm gonna do a thousand units or why not do stocks i've been doing with stocks this year it's been so much more relaxing so it's so funny i was yeah i went over to kevin's place today for like two three hours and he's definitely on that stock train for sure um i think i've spent so much time getting good at real estate that again it's a hobby even if you came and said hey you could make the same amount well that's not true if i could make the same amount i do stocks if i knew it and there was no risk i just feel like risk is really low because i know my market really well i know my deals really well i know what goes into it um but it's also like to be safe with diversification yeah i honestly should transition and that's why i brought it up with kevin is and when i watched your kevin o'leary thing yeah and he kind of blasted you a little bit i was like freak you know i've always especially rich dad poor dad like don't diversify right that's what i've lived by but i do think in the next year or two i need to i'll tell you my own personal experience i've invested besides buying the vegas place in this place everything else into stocks best decision ever just like split between index funds and just i got those individual stocks happen to do well but it's been nice yeah it's so nice just to be able and i i have a thing every morning i go in and i buy the s p 500 every morning it's just like my my thing in the morning i love going in there click and buy and just it's off and it's done and then it's been a good market yeah it has but i mean i've been true and if it was a bad market you could still rent out your places since they're here in l.a yes true that that's the budding i was gonna ask your personality yeah with what you've told me about you know the old man it has to hurt your soul if you see yourself lose a hundred grand like and you see it dip does that not affect you or uh no there was one day there's one day in the market i think i was down 60 grand uh and uh you told me yeah i showed ya the hard part for me was that uh and and by the way this is like down 60 but i was still up so it wasn't like down money but i was up and then down 60. and i remember thinking to myself like how many times where i was so like i didn't order the avocado i didn't get the double meat at chipotle i got the smaller appetizer because i didn't want to spend the extra like three dollars and i'm like they're 60 grand gone how many times could i have done that so that was that was what was so hard for me uh but now it doesn't bother me i think in the beginning when i was really going heavy into it um it just it took some getting used to but now any swings of plus or minus like 30 40 50 grand just doesn't mean it's just it doesn't matter anymore when i can it's the same with real estate early on when you have a bad eviction you've got to go and it hurts really bad and you're questioning yourself and now money comes and money goes and it just is what it is but i don't know i love personal ownership i love the empire aspect but you can get both mine but you could get both yeah and i should like i know just try it i would take with with the amount of money you're making take 500 grand or a mill put one million in just a broad index fund and leave it see how nice that is you invested in stocks no no i did one year when i didn't know what i was doing i have eight grand in an ira you got your four free stocks for free stocks it's time for robin hood m1 finance yeah yeah i need to do that i know that's a good thing to make money on youtube and i don't do it yeah but you should try like my goal this well in the next like six months is i want enough in the stock market no i'm almost i won enough the stock market where it equals the amount of debt i have in the real estate so four million in debt i want four million in the stock market interest that's that's my next and then how much in bitcoin i should do that's another thing i i feel like i should andre jake has been telling me non-stop to put money in bitcoin since like 10k well i heard what like tony robbins was saying it should be at least ten percent of your portfolio i think ten percent is too much i mean andre says one percent and i hated his advice and it's done me well really well yeah especially the last month or two right i don't yeah i i wouldn't say there's any downside in putting one percent of your entire net worth in bitcoin yeah i don't think there's i mean worst case you lose one percent but it's never going to go down 100 it's never going to be worth nothing that's all i think it's always going to be some sort of value yeah so you're not going to lose the worst case you go from one percent to like a quarter of a percent like worst case but yeah oh i was just going to say with the stock market bitcoin any of that stuff when i see it's like this i get major anxiety to put money into something that's like this and so yeah but real estate has been like this this year too yeah i think i understand it though all that stuff and and that really is my problem is it's going to take me investing time into it i just don't have the time i don't want to put in the time i know i should put in the time but yeah i think that's right i think i think it would do you well to start buying into it just do it a little little by little and it'll make you feel good so yeah so now we got to find the click bait for the title here how much how much did you uh make how much how much do you make every month what is this you run a really tight ship this is way more organized than mine mine i just do like one bank account what bank is that yeah um i don't really want it's a local credit union i don't want people knowing a small bank i use but um so essentially you can see the mortgages going out and you can see the rents coming in you can even go back a couple months and see the consistency of them some have good somehow bad but why do some of these have a lot of cash in them and others don't um that doesn't have a whole lot of rhyme or reason to it essentially when they get pretty big i just pull it i always keep at least that six months reserves for the units in there got it at least i try to does that make sense yeah this is a higher interest rate savings account so i'll move everything out of the llc's and put them here because i'm getting just shy of two percent on that money wow how are you getting two percent on that so here's the thing everything i do i use local credit unions that i built relationships with for years so my credit cards my mortgages that's why i can get such good rates on commercial loans like my last loan i got 10-year fixed 25-year am with a 25 down at a 3.5 interest rate wow now in a commercial property yeah and it's because i do everything through them so i just went in and i said here's the deal like i need a higher interest rate on the money that's sitting there i've kept everything with you guys i shopped it out with everybody and then i got them to go and you're a big fish there you do that in la people would laugh you bring that amount to banks they won't even care you have to have like five mil plus yeah for them to even consider like having like a private banking relationship or anything and that's why my biggest and i push this on my channel hard if you're in an area find your small local credit unions because they're willing to talk to you they're willing and they weren't early on but once i had three four or five mortgages with them once i had pretty decent deposits with them then i'd built those relationships and now i know all the people that make those i should just give you my money you take half a percent and then i take the other one and a half accounts these are fun we should all you start a syndicate seriously i guarantee two percent like everyone would give you their money at half a percent so you could give them back one and a half yeah and i'm sure i'd get like there's got to be something illegal about that yeah and i'm sure a big a big portion of it is all the business they're they're watching that stuff for sure but not a bad business side that's the thing though is people there are other ways right now the market's harder and i i guarantee this will drop because of what's gone on i just had it locked in for a year yeah so so we have to know though an amount for clickbait yeah what is your total monthly revenue gross what is your gross revenue from rental properties so um i didn't run the gross i ran after all of my expenses and maintenance that's not clickbait and that's not clickbait we need gross i can i can do the math really quick and get it but we need to we need the graphs yeah just or or honestly just round it off let's just like round it off right now we'll cut this part out just be like i'm gonna estimate it's around you know it's about got it because we want to put a hundred thousand a month so that's the goal how'd you like your sparkling water grams it's really good i liked it a lot isn't it good yeah zero calories i was laughing at this thing i posted on my story 190 000 ceiling fans recalled because the blades detached and fly off and then my capture was if you thought 2020 couldn't possibly get anywhere that's so gnarly i saw that it was like jeez crazy it's wild imagine like sitting down like watching the simpsons like with your family and just a blade from the ceiling just sticks right next to your head like final destination have you seen that movie no i've not oh final the great movie it's basically that they they cheat the d word when you when you pass away they cheated that d word and then the d word comes and tries to get them so you can't escape oh that's fascinating yeah so yeah one guy had a premonition of something avoided it so he could still live and then they find these grotesque ways to get everybody off one by one and so blades splitting the fan like these random acts to anyway guys shout out final destination think of that oh we need to get it going come on come on there has to be something so so he's adding up he's adding up his gross rents and we're telling him we need to put 100 he gets 95 500 a month that's legit what it is though that's his gross 100k you had to find a way to get another 4 500 in there 45 pounds get another one buy another unit we're putting a hundred grand you get 100 i helped three different people buy properties that would have put it over but i passed them off to my sales reps and then jack all right there you go 100 000 really it's 95.5 but we're going to call it 100 rounded off you make 4 000 elsewhere we're sure of it yeah it's coming somewhere yeah wow yeah are you going to help jack find a place yeah we got to talk about this because we had jack dougherty on the podcast and he said that you helped him find an investment property you walked him through basically everything he gets to use your property manager manager same lender that you use so i reached out to you and i asked if you could do something with me because i want to get into real estate but it's difficult for me because i don't have very much time to figure out the new la market or las vegas market and i knew what you did with jack so i was wondering you know if you'd do the same thing for me and you agree i i did it that's dangerous because if anything happens we're on the podcast here so that's what's so that's the danger and same with jack so and i think he talked about on your podcast he'd had negative experiences before it the reason i don't ever want to do like partnerships or anything like that is i want people to understand what they're doing and i want them to make the decision that hey it's right deal i don't want anna i don't want to take money from it and that's why i can't do this for everyone so it's i'm starting to set a precedent and a lot of these deals are deals i would buy i would want to dude once and everyone else is going to come out i think i know exactly what i want though uh maximum profitability minimal uh risk yeah that's what i'm learning that's whatever it is that sounds good that sounds good yeah so we're we are gonna i am going to help you pull it off i gotta figure out how i'm gonna do it moving forward just because i can't like the jack one stressed me out because i knew it's a big audience and with my audience i push 10 cash on cash return it's got to be that kevin gives me a hard time like that's hard to find that's a really good deal and it sucks to hand that over especially when i didn't make any money on it but it it comes around so i did tell you i'd do it we'll we'll find a way no promises on how quickly i think in the next couple no rush okay no rush a couple of months that's jack has a few days max but yeah i'm extremely excited to get into you know investment properties and i will keep you guys updated with the journey so everyone will know what's going on very excited and very grateful for this opportunity yeah definitely and we are going to make sure that you know your stuff so that when we do find a good property i want to see you hyped because you've done your research and you know like it's good yeah i just have to understand but give give jack that one okay that's fine give jack your uh program give jack your program so he could go through it and then learn from that and actually i want to see it too okay so i want your feedback too the thing about it is there's so much in real estate investing and i'm consistently adding to it but i really tried to make it so that people knew everything they needed to know to find properties to build relationships to do due diligence to know what a good deal is and to know how to finish and get that i want to watch it um and the reason why is because i've wanted to do a real estate investing course for years but i got so burnt out after doing the youtube course it's sent to me yeah and i i i couldn't do it because i realized that it's not just like how to buy real estate but then how to how to negotiate and then how to do your inspections and then how to get a loan and how to shop the loan around how do you find tenants and and it became like one thing i had to do two other points talk about it and then two other points and then two it kept forking and fork and i then i'm like i got this project for like years yeah and by the time i make it then people are gonna want something like new so i i've given up on that for now it's super overwhelming i'm curious to see what you think about mine i think what is hard is i love giving stuff away from free but there's value when you spend money and when you invest in yourself and do that but i've wanted to keep it at a price point that's why it's out where it's at um but i'm always going to feel like there's more especially when people start thinking about 1031 exchanges when they start thinking about cost segregation oh my gosh and then that's yeah all of that other stuff and i've added videos with that i'm always going to be adding because when you get into bigger multi-family all of that i feel like they're going to want to know about that all right so we'll watch it send it send it over we'll link it we'll link it down below but uh jack you will be the uh the decider on this one if you like it if you don't like it we gotta blast it that sounds good yeah and if you get a bad deal too what you could do is sit down with them sit down yeah yeah but we've been recording now for an hour and 30 minutes all right thank you so much so much thank you this is amazing meeting you we've been talking on the phone it's good to finally see your face thank you for coming on yeah we pulled strings to get you on today yeah so i'm really glad like last minute you agreed to come on and and talk to us so it was like last episode of the year yeah definitely and you need to know look up to you a ton like love your channel okay thanks for this this is awesome this is fun thank you for having me yeah what's your credit score um i looked it up i knew you would ask i think i'm 789. good it is how much did it just drop because the big purchase yeah so how many credit cards you have uh six okay yeah cool that's pretty good that's good all right cool so thank you guys so much for watching we really appreciate it make sure to subscribe uh hit the like button get your four free stocks uh your information is down below in the description we gotta get you to 100k yeah we need listen if you're watching this right now if everybody who got to this point just goes and subscribes it's a perfect point to go and do this before you forget go and subscribe we'll get you to 100k awesome i had a goal by 2021 and i'm just so oh let's do it yeah uh oh no no no we're going to be posting this on sunday it's not going to happen by then are you kidding me yeah i thought we had a few extra days yeah destroy the like button cool thanks guys for watching and until next time thanks guys you know how to do the intros um i watch it but i'll probably crack under pressure you can't get me what does it work how much money we've made 30 no okay 33rd episode yeah yep so you're gonna say welcome to the 33rd ever episode of the iced coffee hour introduce yourself and then say so far the podcast has made maybe like 20 sorry i'm going to write it down 28 9 40. 29 28 9 40. welcome to the 33rd episode of the ice ever there you go welcome to the 33rd ever episode of the iced coffee hour so far you have made twenty eight thousand nine hundred and forty dollars is that right that is absolutely good yeah once more once more okay take the energy 20 and then say your name so higher or not 20 more energy outdoor voice welcome to the 33rd ever episode of the iced coffee hour my name is uh chandler david smith am i allowed to start with what's up or what's going on whatever you want whatever you want yeah go for it go what's going on guys welcome to the 33rd you