WEBVTT - Study Hall: Top Business Tips & Buying Back the Block 0:00:00.120 --> 0:00:00.320 Hi. 0:00:00.520 --> 0:00:03.280 I'm Sherry Harris, owner of Life Source Water. As a 0:00:03.320 --> 0:00:06.480 new grandmother in lifelong Californian, I care about what's in 0:00:06.519 --> 0:00:10.000 the water my family uses every day. For over forty years, 0:00:10.080 --> 0:00:13.400 our whole house water system has protected Bay Area families 0:00:13.400 --> 0:00:16.400 with filtered water from every tap. Now we are offering 0:00:16.480 --> 0:00:20.040 a double dip in savings free basic installation plus an 0:00:20.079 --> 0:00:22.520 extra two hundred and fifty dollars off. That's up to 0:00:22.600 --> 0:00:25.560 twelve hundred dollars in savings. Call our factory at one 0:00:25.600 --> 0:00:28.800 eight hundred Water ninety nine or visit Life sourcewater dot com. 0:00:28.880 --> 0:00:31.520 Hurry offer in September thirty warranty limitations apply. 0:00:31.720 --> 0:00:32.040 Earns. 0:00:32.040 --> 0:00:34.400 It's twenty twenty one, the year of execution. In order 0:00:34.400 --> 0:00:36.640 to execute, we have to have information, and the number 0:00:36.640 --> 0:00:39.680 one place that get the information EYL University Shotty tell 0:00:39.720 --> 0:00:40.320 them what we bring in. 0:00:40.479 --> 0:00:43.080 Yes, EYL University has been reloaded. We already have one 0:00:43.120 --> 0:00:46.040 hundred passed webinars. We already have weekly webinars. We already 0:00:46.120 --> 0:00:48.680 have our private investment group on Facebook. We already have 0:00:48.800 --> 0:00:51.320 multi financial planning calls. We already have bi weekly real 0:00:51.440 --> 0:00:54.400 estate called. But what has been added to EYL University 0:00:54.440 --> 0:00:57.160 This year is access to MG the Mortgage Guys home 0:00:57.200 --> 0:00:59.800 Buyer's Blueprint, which walks you through the home buying process 0:00:59.800 --> 0:01:02.600 from A to Z and also has been added breaking 0:01:02.640 --> 0:01:05.000 News Alert. Everybody always has to be in our group 0:01:05.080 --> 0:01:08.240 chat and when we talk about all the investment plays 0:01:08.240 --> 0:01:10.759 that we are making. We are going to have investment 0:01:11.040 --> 0:01:14.199 calls group chat calls with me, Troy and the whole 0:01:14.240 --> 0:01:17.520 team and walk you through our plays that we're making 0:01:17.880 --> 0:01:21.399 and give you insight into our portfolios. All of that 0:01:21.720 --> 0:01:24.600 for seventy five percent off. That's right, we are doing 0:01:24.640 --> 0:01:27.440 a blowout sales seventy five percent off for a limited 0:01:27.480 --> 0:01:30.479 time only. Go to eyl University dot com right now 0:01:31.000 --> 0:01:31.640 and sign up. 0:01:31.800 --> 0:01:33.440 See you on the other side. 0:01:34.680 --> 0:01:37.440 My graduates from my school being. 0:01:37.319 --> 0:01:43.000 Forts back drop bag Drop, Mike drop back drop Drop. 0:01:53.440 --> 0:01:56.840 So you started a business the Erael Commerce. Can you 0:01:56.840 --> 0:01:57.400 talk about that? 0:01:57.880 --> 0:02:01.200 So basically none something else. I like to teach entrepreneurs, 0:02:01.520 --> 0:02:03.280 especially the ones that's coming out of the corporate world. 0:02:03.280 --> 0:02:04.920 Everybody feels like I. 0:02:04.800 --> 0:02:07.040 Got to create something new, Like I got to get 0:02:07.040 --> 0:02:09.480 into an industry that I see everybody else doing, right, 0:02:10.000 --> 0:02:11.920 But what I realized is like, man, if this company 0:02:11.960 --> 0:02:13.400 is paying me one hundred grand a year to do 0:02:13.440 --> 0:02:16.440 this job. There has to be a smaller business out 0:02:16.440 --> 0:02:18.680 there somewhere that needs these same services, need the same 0:02:18.760 --> 0:02:21.959 skill set, and I can just go out and provide 0:02:21.960 --> 0:02:24.800 the service for them, and instead of being their employee, 0:02:24.840 --> 0:02:27.800 I become their consultant. So that's what Erael commerces. I 0:02:27.800 --> 0:02:29.440 took all that experience I had, all those connections I 0:02:29.480 --> 0:02:31.240 had with the railroad, all these oil and gas companies, 0:02:31.400 --> 0:02:34.760 and I found all these smaller companies that need or 0:02:34.800 --> 0:02:37.720 want to get a contract with an Exxon. Because Exon 0:02:37.800 --> 0:02:40.400 has over ten thousand rail cars. Everyone of those cars 0:02:40.400 --> 0:02:42.320 has to be maintained, has to be repainted, has to 0:02:42.320 --> 0:02:44.919 be cleaned, that has to be maintenance done to them. 0:02:45.080 --> 0:02:46.680 They have to storm when they're not using, they got 0:02:46.760 --> 0:02:48.640 to park them somewhere. So what I do is I 0:02:48.639 --> 0:02:51.080 help all those companies that provide those services get in 0:02:51.080 --> 0:02:53.760 the door with Exon, get the contract, and then they 0:02:53.760 --> 0:02:55.720 perform all the work and I just get commissions off 0:02:55.720 --> 0:02:56.200 of the deals. 0:02:56.400 --> 0:02:59.119 Wow, so you get like the relationship man I am. 0:02:59.320 --> 0:03:02.760 I'm basically broker basically broker in and I have everything 0:03:02.760 --> 0:03:06.040 set up with with my clients to where whatever contract 0:03:06.040 --> 0:03:07.600 that helped them get I get paid. 0:03:08.080 --> 0:03:10.000 But so eraail is not the only. 0:03:11.400 --> 0:03:14.280 Form of consultation that you're providing, right, Don't you have 0:03:14.320 --> 0:03:16.280 a few other consultation things that you do well. 0:03:16.320 --> 0:03:18.240 I mean, in general, I just try to help entrepreneurs 0:03:18.240 --> 0:03:20.240 get started, you know, because I mean I was so 0:03:20.360 --> 0:03:21.880 lost when I was trying to get out out of 0:03:21.880 --> 0:03:22.359 the work world. 0:03:22.440 --> 0:03:24.400 I was like, man, nobody was really here to guide 0:03:24.400 --> 0:03:24.920 me and teach me. 0:03:24.960 --> 0:03:27.960 So I use my social media platform, and you know, 0:03:28.080 --> 0:03:32.920 I use that network and that audience as as my 0:03:32.960 --> 0:03:33.560 way to give. 0:03:33.440 --> 0:03:33.920 Back, you know. 0:03:33.960 --> 0:03:36.440 So anybody that has helped wants helped with it getting 0:03:36.440 --> 0:03:38.760 started entrepreneurship. I try to teach them the basis kind 0:03:38.760 --> 0:03:40.720 of stuff is we're talking about now, you know what 0:03:40.760 --> 0:03:42.080 I mean. I get them as far as I can, 0:03:42.400 --> 0:03:44.200 and then I try to network with someone that's actually 0:03:44.200 --> 0:03:46.600 in their field and try to get them to get 0:03:46.640 --> 0:03:47.320 under that person. 0:03:47.960 --> 0:03:52.440 So you're providing the mentorship by consulting, right, Okay, gotcha. 0:03:52.880 --> 0:03:54.920 Consulting is something that we also haven't spoken about yet 0:03:54.960 --> 0:03:57.160 in this podcast, but it's extremely important and it's a 0:03:57.240 --> 0:04:00.360 very profitable business as well. Consultants you have can resultants 0:04:00.400 --> 0:04:02.760 in school industry, you have consultants in political industry, you 0:04:02.760 --> 0:04:04.880 have consultants in all kinds of stuff, right, can you 0:04:04.920 --> 0:04:07.640 explain the importance a lot of times, especially for small 0:04:07.680 --> 0:04:09.480 business owners. This is the problem with small business owners 0:04:09.520 --> 0:04:12.400 us compare the business big business. They have a small 0:04:12.440 --> 0:04:15.320 way of thinking. They understand the power of consulting. They 0:04:15.320 --> 0:04:17.839 don't understand the power of marketing. They don't understand They 0:04:17.880 --> 0:04:20.839 just want to just do the work. It's like running 0:04:20.839 --> 0:04:22.880 on the tread, but you can only get so far. Right, 0:04:23.279 --> 0:04:25.520 when you get enough win behind you know, you can 0:04:25.560 --> 0:04:27.719 start to fly. So when you talking about the power 0:04:27.800 --> 0:04:33.479 of consulting, like what can somebody get value out of 0:04:33.560 --> 0:04:35.320 hiring the right consultant. 0:04:35.760 --> 0:04:37.279 So there's only two ways you're gonna learn. 0:04:37.440 --> 0:04:39.520 You either gonna bump your head and you're gonna lose 0:04:39.560 --> 0:04:42.039 time and money, or you're gonna pay for the knowledge. 0:04:42.360 --> 0:04:45.080 Period. There's no other way you're gonna learn. Right, So 0:04:45.720 --> 0:04:46.640 you hire a consultant. 0:04:46.640 --> 0:04:48.640 A consultant as someone that's an expert in that field, 0:04:48.640 --> 0:04:50.760 that has already got experience doing what you're trying to do, 0:04:51.560 --> 0:04:53.240 or they can help you with a particular area of 0:04:53.279 --> 0:04:56.760 the business that you can't fulfill, Like if you have 0:04:56.839 --> 0:04:58.800 a great product, but you don't know how to get 0:04:58.839 --> 0:05:01.000 it in front of enough people. You need a marketing 0:05:01.000 --> 0:05:03.000 consultant to come in and help you get it in 0:05:03.000 --> 0:05:06.719 front of the right people. And so it's basically a 0:05:06.720 --> 0:05:08.960 way for you to you can add a whole department 0:05:09.080 --> 0:05:12.240 to your business without actually having a hire an employee. 0:05:12.440 --> 0:05:13.920 It's a consultant. You know. 0:05:14.080 --> 0:05:16.359 That consultant can neither be somebody that's paid by the hour, 0:05:16.880 --> 0:05:19.240 or it could be somebody that I always recommend you 0:05:19.240 --> 0:05:22.800 get performance based consultants, which means they work off a commission. 0:05:23.120 --> 0:05:24.400 So if they don't produce. 0:05:24.160 --> 0:05:26.800 For you, they don't make any money, right, so that 0:05:27.040 --> 0:05:29.719 gives them a vested reason to get in there and 0:05:29.760 --> 0:05:32.640 work hard and get something done. And on the flip 0:05:32.680 --> 0:05:35.600 side of that that, like you said, that's a very 0:05:35.640 --> 0:05:38.000 lucrative business too, because it's a business where it doesn't 0:05:38.040 --> 0:05:39.800 require you have to invest a lot. You can work 0:05:39.800 --> 0:05:42.240 from home and be a consultant and people actually paying 0:05:42.240 --> 0:05:44.600 you just for the knowledge that you already have. You know, 0:05:44.600 --> 0:05:46.040 so you can take that corporate experience. 0:05:46.080 --> 0:05:46.360 You could. 0:05:46.400 --> 0:05:48.640 Man, you could have been flipping burgers at McDonald's for 0:05:48.680 --> 0:05:51.159 five years. But guess what skill set you got, you 0:05:51.240 --> 0:05:53.159 know what it takes to onboard a new employee. So 0:05:53.160 --> 0:05:55.040 you can go to other small restaurants and say, here's 0:05:55.080 --> 0:05:57.240 the McDonald's model. I'm gonna teach you how to run 0:05:57.240 --> 0:05:59.080 the McDonald's model for your restaurant. 0:05:59.200 --> 0:06:00.520 And that's something that anybody can do. 0:06:00.640 --> 0:06:02.719 Like, as you're saying it, I'm thinking of like especially 0:06:02.800 --> 0:06:05.440 in the education field, and especially in the restaurant field 0:06:05.440 --> 0:06:05.640 as well. 0:06:05.680 --> 0:06:08.480 It's like people always try to figure out how. 0:06:08.400 --> 0:06:11.080 Can they make passive income, right, and they don't realize 0:06:11.080 --> 0:06:14.000 that they have a skill set already. They're just overlooking it, right, 0:06:14.040 --> 0:06:16.040 they're not maximizing their potential. 0:06:16.160 --> 0:06:17.640 Well, this is one of the things you talk about 0:06:17.680 --> 0:06:20.279 multiple streams of income. That is that the average millionaire 0:06:20.320 --> 0:06:23.000 has seven streams of income. That doesn't mean they has 0:06:23.040 --> 0:06:27.320 seven jobs or even seven businesses. Is that they're maximizing 0:06:27.360 --> 0:06:30.920 their skills maybe one or two businesses. So, as you said, 0:06:31.160 --> 0:06:35.159 you can be a teacher, right, but you're an expert 0:06:35.160 --> 0:06:37.800 in that field. If you're a really good teacher, now 0:06:37.839 --> 0:06:41.640 you can be a consultant to school districts, right, curriculum 0:06:41.680 --> 0:06:45.359 things of that nature. Right, And that's something that anybody 0:06:45.400 --> 0:06:48.599 can do. As Choice said, even if you're still an employee, 0:06:48.880 --> 0:06:51.840 you can be an entrepreneur and create your own consulting business. 0:06:51.920 --> 0:06:54.599 And the amount of time it doesn't require as much, 0:06:54.680 --> 0:06:56.279 right they say, these are my hours. 0:06:56.279 --> 0:06:59.560 You dictate the hours, and you dictate the fees, and a. 0:06:59.560 --> 0:07:02.159 Lot of time you're helping different customers and clients with 0:07:02.200 --> 0:07:03.880 the same problem exactly, so you. 0:07:03.839 --> 0:07:04.920 Already know it like in and out. 0:07:04.960 --> 0:07:07.120 You know, for your for your consulting business, how did 0:07:07.120 --> 0:07:09.840 you market yourself to to your customers and clients? 0:07:09.880 --> 0:07:12.160 How do you man The most powerful tool I use 0:07:12.240 --> 0:07:14.960 is linked in, Okay, And what I liked about LinkedIn 0:07:15.080 --> 0:07:17.480 is because when when you put yourself on there as 0:07:17.480 --> 0:07:20.480 a business owner, you give yourself whatever title you want, 0:07:21.320 --> 0:07:23.880 you know, So I gave my it's just it's me 0:07:23.960 --> 0:07:27.640 and one partner, but my title is executive VP. So 0:07:27.960 --> 0:07:30.000 that puts you in a whole different arena. They look 0:07:30.000 --> 0:07:34.480 at you like, it's all perception. It's all perceptions. So 0:07:34.520 --> 0:07:36.960 then when I go to when I see a company 0:07:37.120 --> 0:07:39.640 that I'm trying to get a connection with, and I 0:07:39.680 --> 0:07:41.880 go to the CEO and request to connect with them, 0:07:41.960 --> 0:07:44.040 they were like, oh, it's another executive that wants to connected. 0:07:44.120 --> 0:07:45.400 We got an EXECU that wants to meet you. 0:07:45.520 --> 0:07:46.120 Yeah. 0:07:46.200 --> 0:07:48.080 Yeah, And that's all it is is positioning, and it's 0:07:48.240 --> 0:07:50.040 it's all about you know what you post. 0:07:50.240 --> 0:07:50.680 I post. 0:07:50.760 --> 0:07:53.400 I repost a lot of Wall Street Journal type articles 0:07:53.440 --> 0:07:55.920 that are related to the industry. Any type of insight 0:07:55.960 --> 0:07:58.040 that I get from anybody else that's in the industry, 0:07:58.040 --> 0:08:00.360 I'll make a post about that. So then you kind 0:08:00.360 --> 0:08:03.000 of position yourself as a subject matter expert. So then 0:08:03.200 --> 0:08:06.840 a lot what happens is eventually enough people are watching 0:08:06.880 --> 0:08:08.840 your posts to where when they have a problem, they 0:08:08.880 --> 0:08:11.360 come to you instead of you having to go out 0:08:11.360 --> 0:08:14.400 and ask for business. And another great thing I like 0:08:14.400 --> 0:08:16.600 about LinkedIn is because you can type in any job 0:08:16.600 --> 0:08:18.880 title you want. So I'm in a supply chain, right, 0:08:19.440 --> 0:08:21.080 I type in direct a supply chain. 0:08:21.160 --> 0:08:22.880 LinkedIn is going to give me a list of people 0:08:22.880 --> 0:08:25.480 with that title. So all I do is go connect 0:08:25.480 --> 0:08:27.560 connect connect connect connect connect. 0:08:27.400 --> 0:08:29.560 You know, and then that builds your audience because people 0:08:29.600 --> 0:08:31.160 go to check you out to see who is this 0:08:31.160 --> 0:08:33.280 that's asking the link with me? And then like my 0:08:33.320 --> 0:08:37.280 network on LinkedIn is like seventeen thousand, it's all industrial products, 0:08:37.320 --> 0:08:39.080 supply chain people from all these big companies. 0:08:40.080 --> 0:08:41.640 That's a lot of that's a lot. But LinkedIn you 0:08:41.640 --> 0:08:43.600 got to accept every single person, right. 0:08:43.440 --> 0:08:46.000 Yeah, well yeah, the person has the person has to 0:08:46.400 --> 0:08:49.560 approve the connection. But if your page is set up 0:08:49.600 --> 0:08:51.480 to where it looks like, oh, this is somebody that 0:08:51.679 --> 0:08:54.199 I might want in my network, then you're good. And 0:08:54.040 --> 0:08:56.120 that's the whole purpose of you know, making sure that 0:08:56.480 --> 0:08:59.400 you set yourself up right on there with the right titles. 0:08:59.240 --> 0:09:02.400 You send and you with it in mail, right, they 0:09:02.440 --> 0:09:04.120 send you in mail, so you could both. 0:09:04.520 --> 0:09:06.720 I guess I'm both. Yeah. 0:09:06.800 --> 0:09:09.080 I met with a guy matter of fact, he flew 0:09:09.120 --> 0:09:13.240 in from Arkansas last week because he's working with a 0:09:13.240 --> 0:09:16.960 private development group that does industrial development and they're looking 0:09:17.000 --> 0:09:20.000 for new locations to build new rail terminals. And that's 0:09:20.040 --> 0:09:21.440 part of my job when I working the railroad, so 0:09:21.440 --> 0:09:24.080 that's part of my consulting too. So he literally reached 0:09:24.120 --> 0:09:25.800 out to me because he had been seeing me make 0:09:25.840 --> 0:09:30.480 these posts on LinkedIn about railroad development and railroad terminals. 0:09:30.960 --> 0:09:32.559 So he this gout literally flu in for the day 0:09:32.600 --> 0:09:33.240 just for that meeting. 0:09:33.800 --> 0:09:37.400 You are using your resources efficiently, and a lot of 0:09:37.400 --> 0:09:40.000 times people don't realize that, like they're just on LinkedIn 0:09:40.120 --> 0:09:42.920 or they're just on Facebook just to put pictures up, 0:09:43.080 --> 0:09:46.600 not networking, and not realizing how powerful a tool they 0:09:46.640 --> 0:09:47.839 have at their fingertips. 0:09:48.120 --> 0:09:51.800 Well, LinkedIn is only for networking. But I got to 0:09:51.800 --> 0:09:53.079 get a better I gotually got to do a better 0:09:53.120 --> 0:09:55.400 job on LinkedIn because I don't know, I just don't 0:09:55.400 --> 0:09:57.600 feel too comfortable with it. I feel like it's some 0:09:58.840 --> 0:09:59.440 kind of boring. 0:10:01.440 --> 0:10:03.520 It is boring, but it's like Facebook, but it's for 0:10:03.559 --> 0:10:06.720 business only. Yeah, it's powerful, Yeah, it is, it is. 0:10:07.000 --> 0:10:09.959 I mean you can you would be surprised that people 0:10:09.960 --> 0:10:12.240 that don't have a lot of LinkedIn followers that are 0:10:12.280 --> 0:10:16.480 like powerful people like I mean like producers, executive producers 0:10:16.520 --> 0:10:19.440 at these big stations. They may have five hundred, one 0:10:19.480 --> 0:10:22.560 thousand connections and you go requested and it's approved the 0:10:22.559 --> 0:10:22.959 next day. 0:10:23.000 --> 0:10:23.200 You know. 0:10:23.679 --> 0:10:25.520 But it's like it's like it's like a back door 0:10:25.840 --> 0:10:28.680 to get the connection that usually you have to call 0:10:28.679 --> 0:10:31.600 a corporate headquarters and talk to administrative person and ask 0:10:31.640 --> 0:10:33.040 the schedule time to meet this person. 0:10:33.360 --> 0:10:34.760 You just go LinkedIn and find them so. 0:10:34.679 --> 0:10:36.920 When you need it's like getting you past all those 0:10:36.960 --> 0:10:40.440 things exactly, like all the gatekeepers, Yeah, pass all the gatekeepers. 0:10:40.480 --> 0:10:42.120 If the person's on LinkedIn if they're on that. 0:10:42.200 --> 0:10:45.080 But every everybody's on LinkedIn, and LinkedIn is one is 0:10:45.080 --> 0:10:47.120 the most powerful search thing too, because like so when 0:10:47.160 --> 0:10:48.920 you search somebody's name on Google, the first thing that 0:10:48.960 --> 0:10:51.360 comes up is LinkedIn. That's like the first thing. It's 0:10:51.400 --> 0:10:54.200 like it's like your online resume pretty much it is. 0:10:54.280 --> 0:10:56.199 And so I don't know how they how they work 0:10:56.240 --> 0:10:58.480 that with the algorithm, but they always are on the 0:10:58.480 --> 0:11:00.280 top of your thing. So you kind of have to 0:11:00.280 --> 0:11:02.720 have a LinkedIn page if you're doing anything in business. 0:11:02.760 --> 0:11:04.079 It's like almost mandatory. 0:11:04.280 --> 0:11:05.600 Yeah, I agree, I got up done, man. 0:11:05.920 --> 0:11:08.080 Yeah, all right, So that was good for So now 0:11:08.120 --> 0:11:09.440 in the last time we want going to real estate, 0:11:09.440 --> 0:11:10.560 we're gonna talk all sting real estate. 0:11:10.679 --> 0:11:12.240 That's things going on, that's what you're focused. 0:11:12.800 --> 0:11:14.760 So yeah, for sure. All right, So in the last time, 0:11:14.800 --> 0:11:18.680 we're gonna talk about real estate, right, So, okay, what 0:11:18.800 --> 0:11:21.480 made you go into real estate first and foremost. 0:11:21.400 --> 0:11:22.880 Like I said, I kind of fell into it with 0:11:22.920 --> 0:11:25.400 the court, with the with the corporate job and leaving 0:11:25.880 --> 0:11:28.000 and I had bought a house at the first gig 0:11:28.440 --> 0:11:30.280 and when I moved back to Houston, I couldn't sell it. 0:11:30.760 --> 0:11:34.040 So I had to get a property manager. Property manageer 0:11:34.080 --> 0:11:35.880 rented out. I was making like four hundred bucks a 0:11:35.880 --> 0:11:38.520 month and I wasn't working at all for it. I 0:11:38.559 --> 0:11:41.319 was like, this is this seems like something lucrative. And 0:11:41.559 --> 0:11:43.400 you know, the more you research real estate, it's like 0:11:43.679 --> 0:11:45.800 eighty percent of the first time millionaires are made in 0:11:45.800 --> 0:11:46.280 real estate. 0:11:46.480 --> 0:11:48.720 But this is at a relatively young age, right, Like 0:11:48.800 --> 0:11:50.280 your first property was at twenty two. 0:11:50.440 --> 0:11:51.920 Yeah, twenty two, that's pretty young. 0:11:52.000 --> 0:11:54.320 Yeah, twenty man, So that was that was kind of 0:11:55.080 --> 0:11:58.040 a blessing through having worked with the railroad while I 0:11:58.040 --> 0:12:01.280 was in school, I had a no tenure with them 0:12:01.320 --> 0:12:03.719 to actually qualify for a moving package. So when you 0:12:03.760 --> 0:12:06.320 work with a corporate company, when they move you, they 0:12:06.440 --> 0:12:09.600 either give you a stipend or they give you like 0:12:09.600 --> 0:12:12.320 a down payment towards the house. Yeah, and so they 0:12:12.320 --> 0:12:14.800 gave me the down payment and instead of meeting apartment 0:12:14.840 --> 0:12:16.280 and pocketing the money, just had to get a house. 0:12:16.520 --> 0:12:17.800 But you could have took the stipend, I could have 0:12:17.800 --> 0:12:20.160 took the type he took the long term place. Yeah yeah, yeah, 0:12:20.679 --> 0:12:24.280 I mean you're not an engineered by mistake. Yeah yeah. 0:12:24.520 --> 0:12:26.559 So all right, so then how did that transition to 0:12:26.679 --> 0:12:29.359 you doing what you're now as far as you're developing. 0:12:29.760 --> 0:12:30.400 So okay. 0:12:30.440 --> 0:12:33.280 So when I moved to Houston, I decided I wanted 0:12:33.280 --> 0:12:36.440 to go really hard on the in the real estate game. 0:12:36.760 --> 0:12:39.960 And so one of my line brothers, my fright brother, 0:12:40.040 --> 0:12:42.559 worked for home Vestors that we buy ugly houses people, 0:12:42.880 --> 0:12:45.040 and he was their property manager in the hood, and 0:12:45.080 --> 0:12:46.559 so I kind of told him what I wanted to do, 0:12:47.080 --> 0:12:48.760 and so he ended up plugging me with one of 0:12:48.800 --> 0:12:51.240 the contractors that home Vestors us. And this guy was 0:12:51.280 --> 0:12:53.600 flipping twenty thirty houses a month for them, doing actual 0:12:53.640 --> 0:12:56.040 rehab work, and so he kind of became my mentor 0:12:56.440 --> 0:12:58.959 and we would pick houses, I would flip them. Of 0:12:59.000 --> 0:13:01.400 course he would make money off the rehabs. And so 0:13:01.440 --> 0:13:03.000 that's how I kind of got into the real estate game. 0:13:03.000 --> 0:13:05.200 In two thousand and nine. I would sell some of them, 0:13:05.440 --> 0:13:07.920 I kept some of them for rentals, and I was 0:13:07.960 --> 0:13:09.680 doing that for about five years. 0:13:10.080 --> 0:13:11.160 But then I got. 0:13:10.960 --> 0:13:12.199 Tired of having rental property. 0:13:12.440 --> 0:13:14.160 I mean, I know everybody says that that's supposed to 0:13:14.160 --> 0:13:16.120 be supposed to buy a home and live in and 0:13:16.160 --> 0:13:18.760 have rental property, but man on. 0:13:18.840 --> 0:13:19.680 The rentals sucks. 0:13:21.360 --> 0:13:24.280 The downfalls Okay, So a lot of people, it's a 0:13:24.320 --> 0:13:26.760 good profit margin on a rental properties three or four 0:13:26.840 --> 0:13:30.240 hundred bucks a month, right, but you have one month, 0:13:30.520 --> 0:13:32.920 say like a tenant moves out, and then it takes 0:13:32.960 --> 0:13:35.839 you a month to find another tenant's And if your 0:13:35.840 --> 0:13:40.200 mortgage payment is twelve hundred dollars, that's literally three months 0:13:40.200 --> 0:13:41.199 of your profit gone. 0:13:41.840 --> 0:13:45.080 If you got to make a repair that repairs. 0:13:44.760 --> 0:13:47.199 One thousand dollars, that's another two and a half months 0:13:47.240 --> 0:13:49.439 of profit gone, you know what I mean. And so 0:13:49.480 --> 0:13:51.680 for me, it was like and then you have this debt. 0:13:52.280 --> 0:13:54.160 I was own like one hundred, one hundred and twenty 0:13:54.200 --> 0:13:57.280 on each house, and so now you got debt and 0:13:57.320 --> 0:13:59.240 you got these small profit margins, and it's like, Okay, 0:13:59.280 --> 0:14:01.000 I could see how long term I can continue to 0:14:01.040 --> 0:14:05.080 do this and make money slowly. But dealing with tenants, tennants, 0:14:05.120 --> 0:14:07.880 tearing stuff up, you know, it just wasn't. It wasn't 0:14:07.920 --> 0:14:09.040 something that I enjoyed doing. 0:14:09.160 --> 0:14:11.040 What type of properties were you looking for? Was it 0:14:11.120 --> 0:14:13.880 single family homes or family or property? 0:14:13.920 --> 0:14:15.400 Yeah, at that point in time, I didn't qualify for 0:14:15.440 --> 0:14:17.520 anything like extravagant, So was just buying a little single 0:14:17.520 --> 0:14:19.360 family homes and I'm saying, there's nothing wrong with it. 0:14:19.560 --> 0:14:21.880 You know, everybody can make money in any industry, but 0:14:21.920 --> 0:14:23.560 for me, it's just like I want to do something bigger, 0:14:23.960 --> 0:14:26.720 and so I guess I continued to flip. I started realizing. 0:14:26.920 --> 0:14:29.520 You know, this narrative about gentrification happens over. 0:14:30.840 --> 0:14:33.080 This episode is brought to you by P and C Bank. 0:14:33.480 --> 0:14:36.240 A lot of people think podcasts about work are boring, 0:14:36.440 --> 0:14:40.320 and sure they definitely can be, but understanding a professionals 0:14:40.360 --> 0:14:43.640 routine shows us how they achieve their success little by little, 0:14:44.000 --> 0:14:45.920 day after day. 0:14:46.000 --> 0:14:47.640 It's like banking with P and C Bank. 0:14:48.120 --> 0:14:50.920 It might seem boring to safe plan and make calculated 0:14:50.960 --> 0:14:54.080 decisions with your bank, but keeping your money boring is 0:14:54.080 --> 0:14:57.400 what helps you live or more happily fulfilled life. P 0:14:57.520 --> 0:15:02.360 and C Bank Brilliantly Boring since eighteen sixty five. 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