Podcast Summary: Andy Elliott's Elite Mindset Motivation and Sales Training
Episode Title: How To Get RICH In Real Estate The Right Way
Release Date: March 11, 2025
Host: Andy Elliott
Guest: DJ Thielen
Introduction
Andy Elliott opens the episode by introducing his guest, DJ Thielen, highlighting DJ's impressive track record in real estate. DJ has successfully completed over 4,000 deals in the real estate sector, demonstrating that it's possible to build substantial wealth with minimal initial capital. Andy emphasizes the value of understanding money and the importance of learning from those who have created wealth.
Notable Quote:
- Andy Elliott [00:17]: "A lot of people never become wealthy because they never understand money. Money education is only taught by people who have created money."
DJ Thielen's Background
DJ shares his personal journey, growing up in a financially challenging environment with a single mother. His resourcefulness from a young age, such as creatively using pennies to play arcade games, laid the foundation for his entrepreneurial spirit. DJ's athletic prowess earned him a spot with the San Francisco Giants, but life took him in a different direction, leading him to real estate after selling his first company in 2005 for over a million dollars.
Notable Quotes:
- DJ Thielen [00:03:30]: "Growing up poor taught me to be very resourceful because when you don't have money, you have to find ways to get things without using money."
- Andy Elliott [08:10]: "You've been a creative your whole life."
Transition to Real Estate
DJ discusses his initial foray into real estate, purchasing ten homes for a total of $50,000. Despite early setbacks, such as a property being torn down and unresponsive sellers, DJ's perseverance led him to refine his strategies. He underlines the importance of learning by doing, emphasizing that mistakes are part of the journey to success.
Notable Quotes:
- DJ Thielen [15:01]: "I bought 10 homes for $50,000 total. So, 5,000 a home... But that was the start."
- Andy Elliott [17:09]: "I want to let everybody know that you didn't quit."
Real Estate Strategies for Building Wealth
The core of the discussion revolves around strategies to build wealth in real estate without significant initial investment. DJ outlines several key methods:
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Seller Financing: This involves negotiating directly with property owners to finance the purchase, eliminating the need for traditional bank loans. DJ explains how framing the deal properly and understanding the seller's motivations can lead to successful transactions.
Notable Quotes:
- DJ Thielen [24:51]: "Seller financing is one of the strategies. This is where you can find people that own the homes free and clear."
- Andy Elliott [25:39]: "Seller financing is great because usually you can do it with no money down."
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Private Money Lenders: Building relationships with individuals who are willing to invest their capital in real estate deals. DJ highlights the importance of approaching potential lenders with integrity and clear value propositions.
Notable Quotes:
- DJ Thielen [32:12]: "Private raising and raising capital is huge."
- Andy Elliott [32:28]: "Learning how to approach people in a friendly manner is crucial."
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Turnkey Solutions: DJ's company, Empire Real Estate Build Side, offers turnkey services where they handle everything from finding deals to managing properties. This approach allows investors, especially those with limited time, to build a real estate portfolio effortlessly.
Notable Quotes:
- DJ Thielen [02:15]: "We have a turnkey real estate investment solution for everyday people."
- Andy Elliott [26:49]: "You can treat them on multiple facets. They have multiple roads to make money."
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Utilizing Technology and Tools: Leveraging platforms like Propstream and Zillow to find potential deals, especially in low-cost markets like Ohio, Pennsylvania, and Michigan. Consistency and daily effort in reaching out to sellers are emphasized as keys to success.
Notable Quotes:
- DJ Thielen [27:28]: "You can use Propstream; there's so much software now that can find deals for you."
- Andy Elliott [28:16]: "Zillow is a great tool to find for sale by owner properties."
Mindset and Motivation
A significant portion of the podcast delves into the psychological aspects of building wealth. Both hosts stress the importance of resilience, grit, and a positive mindset. DJ shares his belief that failure is merely a stepping stone and that having a mentor can greatly enhance one's ability to overcome obstacles.
Notable Quotes:
- Andy Elliott [10:08]: "If you don't want to learn this, it just means that you want to stay broken."
- DJ Thielen [35:05]: "A good mentor helps you believe more in yourself than you believe in you."
Overcoming Obstacles and Procrastination
The conversation highlights common barriers such as fear of failure, procrastination, and the misconception that real estate requires substantial upfront investment. DJ advises listeners to take actionable steps, even small ones, towards their goals and to seek mentorship to navigate challenges effectively.
Notable Quotes:
- Andy Elliott [43:37]: "Procrastination is the devil's greatest tool. It's the thief of opportunity."
- DJ Thielen [35:21]: "You have to keep going, man. You just get back up."
Success Stories and Testimonials
DJ shares inspiring stories of individuals like Eric, who completed 31 deals in a year under his mentorship, and Rob, who successfully managed multiple businesses while thriving in real estate. These stories underscore the scalability and potential profitability of DJ's strategies.
Notable Quotes:
- DJ Thielen [25:08]: "Eric took under my wing last year and coached specifically on this, did 31 deals in one year."
- Andy Elliott [29:42]: "Eric made his biggest deal at $29,500, which was a game-changer for him."
Practical Tips for Aspiring Investors
The hosts provide actionable advice for listeners looking to enter the real estate market:
- Consistency is Key: Daily efforts in contacting sellers and following up can lead to substantial deals over time.
- Leverage Multiple Channels: Utilize online platforms, cold calling, mailers, and networking to find potential deals.
- Scale Strategically: Start in low-cost markets to minimize risks and maximize returns, then scale your investments as you gain experience.
- Embrace Mentorship: Learning from experienced investors can accelerate your success and help you avoid common pitfalls.
Notable Quotes:
- DJ Thielen [29:20]: "Be consistent. Create a text list that you're hitting them every week until you hear from them."
- Andy Elliott [39:45]: "They have multiple roads to make money. You have to take advantage of different strategies."
Conclusion and Call to Action
Andy and DJ wrap up the episode by encouraging listeners to take action. They stress the importance of education, mentorship, and leveraging the right strategies to build real estate wealth. Listeners are urged to follow DJ on Instagram for further guidance and to engage with his turnkey solutions if they seek a hands-off investment approach.
Notable Quotes:
- Andy Elliott [45:14]: "Make sure right now, guys, go to DJ's Instagram, message him directly."
- DJ Thielen [49:25]: "The real wealth comes long term, and it comes from owning real estate."
Key Takeaways
- Education is Crucial: Understanding the mechanics of money and real estate is foundational to building wealth.
- Start Small and Scale: Begin in low-cost markets to minimize risks and learn through hands-on experience.
- Leverage Multiple Strategies: Utilize seller financing, private money lenders, and turnkey solutions to maximize profitability.
- Consistency and Persistence: Daily efforts and resilience in the face of setbacks are essential for long-term success.
- Seek Mentorship: Learning from experienced investors can significantly accelerate your growth and help avoid common mistakes.
- Mindset Matters: A positive, resilient mindset and the willingness to take calculated risks are critical components of success.
Final Thoughts
This episode of Andy Elliott's Elite Mindset Motivation and Sales Training offers invaluable insights into building real estate wealth without significant initial capital. Through DJ Thielen's personal experiences and proven strategies, listeners gain practical knowledge and motivational guidance to embark on their own real estate investment journeys. The emphasis on education, mentorship, and consistent action provides a comprehensive roadmap for aspiring investors to achieve financial freedom and long-term prosperity.
Connect with DJ Thielen:
- Instagram: @DJThielen_THIE
- Facebook, LinkedIn: Available on his Instagram profile
This summary encapsulates the key points and insights from the podcast episode, structured to provide a comprehensive overview for those who have not listened to the full episode.