The $20K Bankruptcy Lesson Every Agent Must Know | Chris Bentley DSH #1018

Summary

Digital Social Hour: The $20K Bankruptcy Lesson Every Agent Must Know | Chris Bentley DSH #1018

Host: Sean Kelly
Guest: Chris Bentley, Real Estate Expert from Dallas
Release Date: December 26, 2024

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Introduction

In episode #1018 of Digital Social Hour, host Sean Kelly welcomes Chris Bentley, a seasoned real estate expert from Dallas. The conversation delves deep into Chris's journey in the real estate industry, his experiences navigating financial challenges, and the invaluable lessons he's learned along the way.

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Chris Bentley’s Real Estate Journey

Background and Early Career
Chris Bentley has been entrenched in the real estate sector since 2003, accumulating over two decades of experience. Originally based on the East Coast, he relocated to Dallas over 13 years ago, where he has established himself as a prominent figure in the luxury home market.

Surviving the Real Estate Crash
Reflecting on the tumultuous times during the real estate crash, Chris shares, “[02:00] I went bankrupt, but I lost my houses too. So I had, like, tenants in there that weren't paying and it was just like a big mess.” Despite these setbacks, he managed to recover within a year or two by strategically leveraging his credit and understanding the intricacies of financial management.

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Navigating Bankruptcy and Financial Recovery

Experiences with Bankruptcy
Chris candidly discusses the challenges of declaring bankruptcy, stating, “[02:06] Back then, like, bankruptcy was a lot easier than it is now. So I just did a BK and just survived it.” His ability to recover swiftly was partly due to his savvy use of credit resources, including utilizing his mother’s credit cards to rebuild his financial standing.

Lessons Learned
One of the pivotal lessons Chris imparts is the importance of maintaining a clear financial strategy and avoiding the pitfalls of overextending oneself financially. “[03:16] It's luxury homes. I mean, I sell a lot of luxury homes. High priced stuff. I get to meet a lot of really cool people, I bet, which is really great.”

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Insights into the Dallas Real Estate Market

Current Market Trends
Chris provides an insightful analysis of the Dallas real estate market, highlighting the influx of relocations from high-tax states like California, New York, and New Jersey. “[00:31] How's that market been lately? [Chris]: It's good. Yeah. A lot of relocations to Dallas. Obviously, it's a state that has no taxes, so a lot of people moving.”

Luxury Home Focus
He emphasizes that in Dallas, properties priced over $600K are considered luxury, a stark contrast to markets like New York or California where such prices are more standard. “[04:02] I mean, Dallas is a little different from like the New York and like the Cali markets. So, I mean, anything that's like over a half million is considered like. Or I guess more like 600 markets are like luxury.”

Market Challenges
Despite the thriving market, Chris notes that pricing remains inflated, making it challenging for buyers to compete. “[13:01] Just depends. This is going to be our biggest year. But really, even though it's like a down year. [Chris]: Yeah. Everything right now is really over inflated, honestly, in pricing. Everybody thinks they're going to get the top dollar and there's just no buyers.”

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Business Strategies and Client Acquisition

Networking Mastery
Chris attributes much of his success to his relentless networking efforts. “[06:33] ...a lot of networking, Like, a lot of, like, handshaking and, like, you know, talking to people about what they do.” His proactive approach in building relationships has made him a well-known figure, leading to a steady stream of referrals.

Embracing Social Media
While traditional networking remains essential, Chris acknowledges the growing importance of social media in client acquisition. “[06:34] I. I was an absolute, like, ninja in terms of. Or like, a psychopath with the... networking, I was out, like, every night, even, like, weekends, just trying to, like, meet people.”

Mentorship and Brokerage Growth
Currently leading a small brokerage with 18 agents, Chris emphasizes a hands-on mentorship approach. “[11:28]...we have a lot of products that we sell, which is really great, and we just keep rolling. Like, the great thing about our, you know, company is me. Like, I mentor people, I coach them.”

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Investment Approaches and Additional Ventures

Stock Trading and Capital Management
Beyond real estate, Chris is involved in capital management, focusing primarily on equities. “[14:29] So on Amazon, fba, it started out as just something that I did as like a hobby... [Later discussing stock trading]... I look at charts. Yeah. So I buy low so high.”

Cautious Approach to High-Risk Investments
Chris advises caution in volatile investment areas like options and cryptocurrencies, sharing experiences and observations about the risks involved. “[17:56] That's crazy. [Sean]: How is that even possible though? [Chris]: Like, because the federal always pushed them up.”

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Media Ventures and Reality TV Experiences

Attempts in Reality TV
Chris recounts his brief stint in reality TV, which ultimately led to his withdrawal from the format. “[08:38] I was on, like, this dating show, and I did it and I, like, regretted it and never. And never aired how it didn't.”

Desire to Create Authentic Content
Frustrated with the dramatization in existing reality shows, Chris expresses his intent to create more authentic content centered around real estate. “[07:46] I'm trying to create one. Like, I've been on a couple of shows and trying to promote something that, like, get it happening and, like, it just hasn't worked out.”

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Personal Development and Mindset

Continuous Learning
Chris underscores the significance of personal growth through constant learning. “[20:04] I listen to, like, a lot of, like, motivation. I learned that when I was Broke. Like I was like, I would wake up in the morning and listen to motivation and then before I went to bed, I listened to motivation.”

Influence of Relationships
He credits his girlfriend for providing valuable perspectives that aid in his personal and professional decisions. “[20:23] That's what I really like about my girlfriend. She'll put me in some angle about something and I'll be like, that's like a really good idea.”

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Closing Thoughts and Future Aspirations

Vision for Growth
Looking ahead, Chris envisions expanding his brokerage significantly, aiming for 180 agents in the future. “[21:56] Probably 180.”

Emphasis on the Journey
Despite his ambitious goals, Chris remains focused on enjoying the journey rather than just the financial gains. “[22:10] It's going to be a fun journey. Like, that's what I'm really looking forward to is, like, the journey more than just, like, the numbers.”

Final Advice
Chris concludes with a powerful message about resilience and the importance of having no safety net to drive success. “[23:24] Be no safety net. You have to figure it out.”

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Notable Quotes

• Chris Bentley (02:00): "I went bankrupt, but I lost my houses too. So I had, like, tenants in there that weren't paying and it was just like a big mess."
• Chris Bentley (06:34): "I was an absolute, like, ninja in terms of... networking, I was out, like, every night, even, like, weekends, just trying to meet people."
• Chris Bentley (11:28): "I mentor people, I coach them. It's not a situation where you just like, come in, pay your fee, you know, you get a desk... you can ask me questions, you can roll with me, we can go to appointments."
• Chris Bentley (20:04): "I listen to, like, a lot of, like, motivation. I learned that when I was Broke... I would wake up in the morning and listen to motivation and then before I went to bed."
• Chris Bentley (22:10): "It's going to be a fun journey. Like, that's what I'm really looking forward to is, like, the journey more than just, like, the numbers."

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Conclusion

Sean Kelly and Chris Bentley engage in a candid and insightful discussion that offers listeners a profound understanding of the real estate industry's challenges and triumphs. Chris's resilience in overcoming financial hardships, coupled with his strategic approach to business and investments, provides valuable lessons for both aspiring and established real estate agents. His emphasis on mentorship, continuous learning, and maintaining a growth mindset underscores the core themes of success and sustainability in a competitive market.

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Connect with Chris Bentley:

• Website: chrisdbentley.com
• Social Media: Chris D. Bentley
• Email: Available on his website

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Thank you for tuning into Digital Social Hour. Stay tuned for more episodes featuring industry leaders and experts sharing their unique journeys and insights.

Transcript

[A]

Gosh, she humbles me.

[B]

Really?

[A]

Yeah. I feel like I'm making all the right decisions. And. Yeah, you need that outside perspective or else your ego will just take over.

[B]

Yeah. Or you'll go down, like, the wrong path.

[A]

Yeah. Because, you know, it's easy to have yes men around you once you have some financial success. And then you just think you're hot.

[B]

And then, like, the people that you pick up are people that are telling you the wrong thing. And the only reason why they're telling you to do that is because they get paid on that.

[A]

Yeah.

[B]

And then you're just like. Well, like, you know.

[A]

All right, guys, Chris Bentley here, real estate expert from Dallas. Right. Thanks for coming on.

[B]

Absolutely. Thanks for having me.

[A]

Absolutely. How's that market been lately?

[B]

It's good. Yeah. A lot of relocations to Dallas. Obviously, it's a state that has no taxes, so a lot of people moving.

[A]

Right.

[B]

Yeah.

[A]

Where are they moving from?

[B]

At Cali, New York, New Jersey, California, Washington, Minnesota.

[A]

Nice.

[B]

Yeah. Those are like, some of the bigger ones.

[A]

Yeah. I'm from Jersey. That state tax is no joke there.

[B]

I grew up on the East Coast, D.C. virginia area.

[A]

Okay. Yeah.

[B]

Yeah.

[A]

East Coast. Good weather. But yeah, some of those taxes are just. Especially New York and Jersey.

[B]

Expensive. Damn, too. Yeah.

[A]

Yeah. But Dallas, you get a lot of land. The one thing I'll say, because I just got back from Dallas, a lot of traffic. Yeah, I got wrecked. I missed my flight.

[B]

Really?

[A]

Yeah.

[B]

Wow.

[A]

I didn't know how. How much traffic there was, so I was like, oh, it's only 15 away. And then my flight was at 6. I got stuck in like 50 minutes of traffic.

[B]

Yeah. There's always a wreck. There's always. Well, it's like 30 minutes anywhere, really, in Dallas, which a lot of people aren't used to. I mean, I'm not really even used to it. I've been there for 13 plus years. But it's just. That's kind of how it is. And if you catch it on rush hour, it's anywhere from like 45 to an hour.

[A]

Absolutely.

[B]

So it's just like. It's just different.

[A]

You got to plan it out out there.

[B]

Yeah. I mean, on the east coast, it's just different because you, like, drive somewhere and it's like there's stuff there to look at. In Dallas, it's really not. It's just. It's not.

[A]

There's so much space.

[B]

Yeah, just a lot of space.

[A]

Is that when you got into real estate, when you moved out to Dallas, or were you. No.

[B]

I was only in real estate since 2003, so 21 years now. And then I started out in the East Coast. I moved to Dallas over 13 years ago.

[A]

So you survived the OA crash then?

[B]

Yeah, barely, bar. Barely.

[A]

Well, a lot of people went bankrupt, so. Is that what happened to you?

[B]

I went bankrupt, but I lost my houses too. So I had, like, tenants in there that weren't paying and it was just like a big mess.

[A]

And damn.

[B]

Back then, like, bankruptcy was a lot easier than it is now. So I just did a BK and just survived it.

[A]

And how long did that take to recover from?

[B]

Probably about like a year or two because I had like, you can assign somebody else's credit to your credit. So, like, I was using my mom's credit cards and stuff like that.

[A]

Got it.

[B]

Kind of like moving my credit up. I just knew how the game worked, so I just kind of moved it up as I went.

[A]

That credit game is a good game to know, man.

[B]

Oh, yeah.

[A]

I see people getting credit cards and literally buying houses.

[B]

Oh, yeah.

[A]

With zero percent credit cards.

[B]

Yeah. It's crazy.

[A]

And then putting that house on Airbnb.

[B]

And you do it with like American Express points and stuff like that. There's all kinds of like.

[A]

Yeah, the point hacking is nuts. Yeah. People. So people watching this don't buy flights with just points. Transfer it to the airline. You get five extra points.

[B]

Wow.

[A]

Isn't that crazy?

[B]

Yeah, it is crazy.

[A]

Yeah. See, they'll give you a 5x bonus. I know. Same with hotels too.

[B]

Wow.

[A]

You got to look for those deals.

[B]

Yeah.

[A]

I know people going to Egypt for like 500 bucks, business class.

[B]

Wow. I know people that just spreadsheet it and like, look at it and all kinds. Yeah, yeah.

[A]

You can get extreme with it.

[B]

Yeah.

[A]

I don't pay too much attention because people live in that world sometimes. But I'd rather just focus on making money, baby. Yeah, me too.

[B]

I'm the same way.

[A]

What's. What's your bread and butter, though, really?

[B]

It's luxury homes. I mean, I sell a lot of luxury homes. High priced stuff. I get to meet a lot of really cool people, I bet, which is really great.

[A]

Anyone ever, like, shock you that you turned up to the house and you were like, what?

[B]

Just, you know, somebody will call me and be like, hey, I want to go look at like 1, 2, 3, Maine. I'll go shoe out there and I'll be like, wow. Like, I didn't know, like, this was going to be this person.

[A]

Yeah.

[B]

Just like, oh, that's cool. You know or it'll be like somebody that created an app or something and you're like, had no idea they were making like, that kind of money. And you're like, wow, like, like, that's cool.

[A]

That's probably like a good networking opportunity too.

[B]

Yeah. Cuz it's just like, oh, you know, I know Chris, and like, he can give me something. And before you know it, like, they'll tell their friends.

[A]

Right.

[B]

Like, it's before. It's just.

[A]

Yeah. Because if one person's getting a house, their friends are probably moving in within the next few years. So.

[B]

Yeah. And it's just like it's a snowball kind of deal.

[A]

Yeah. So what's the price range you typically aim for?

[B]

I mean, Dallas is a little different from like the New York and like the Cali markets. So, I mean, anything that's like over a half million is considered like. Or I guess more like 600 markets are like luxury.

[A]

Really?

[B]

Yeah. So it's a little different market.

[A]

Yeah. Out here that's like an average house, I feel like. Yeah.

[B]

But yeah, anything over a million is kind of like when you start, like, getting into my phone calls.

[A]

Okay. What's the most you've sold the house for?

[B]

5.5 million.

[A]

Holy crap.

[B]

So that was pretty cool.

[A]

How many square foot, how many acres?

[B]

It was just. It's in Highland Park. It's like one of the richest neighborhoods in Dallas. So.

[A]

Yeah, that's all.

[B]

Everybody wants it. It's exclusive. Just for people to say, like, hey, I live in Highland park, you know, so it's just. That's what it is.

[A]

That's where Cuban's at.

[B]

Yeah, Cuban.

[A]

And I heard a casino's coming out there.

[B]

They're trying to.

[A]

Cuban's trying to get that through. Right.

[B]

He just sold a whole maverick sale.

[A]

Right. That. That would change Dallas up, I think, because I don't think there's any casinos in, like, the center of the country right now.

[B]

No. That's going to create more jobs and it's going to create like, you know, bedding and different stuff.

[A]

Yeah. I mean, we're in Vegas now. That's how we all can live here. Because of the casinos. It's like the necessary evil almost.

[B]

I know.

[A]

You know, preying on people's losses. But it funds a majority. I'd have to look at the percent. But it's got to be. Yeah, 80%.

[B]

I think it's the same thing with, like, Oklahoma.

[A]

Oh, Oklahoma. Really?

[B]

Yeah. Because they have a lot of casinos and that kind of stuff.

[A]

I didn't Know that. So are you mainly in Dallas?

[B]

Yeah, I'm just in Dallas.

[A]

But you got plans to expand?

[B]

Maybe. I'm thinking about Miami every once in a while, just because I like traveling.

[A]

There and hanging out, but hard to beat Miami, dude.

[B]

I know.

[A]

Like, it's really hard.

[B]

Yeah.

[A]

If I wasn't in a relationship and I was single, I think Miami would be the move then.

[B]

Like, if I could speak Spanish.

[A]

Like, you need to speak Spanish out there.

[B]

Yeah.

[A]

We're probably outliers out there.

[B]

Yeah.

[A]

If you walk the street out there and you don't really see many white people walking around.

[B]

Well, I mean, it's just a mix. Yeah. So it's just. We got to know Spanish, though, or, like, at least a little bit to understand what's going on.

[A]

Absolutely. How are you able to get clients? Social media.

[B]

When I first started out, there was a lot of networking, Like, a lot of, like, handshaking and, like, you know, talking to people about what they do and different stuff and talking about that kind of stuff. And eventually somebody gave me a deal and before he got another deal and just kind of, like, started to add up. But I was an absolute, like, ninja in terms of. Or like, a psychopath with the. When networking, I was out, like, every night, even, like, weekends, just trying to, like, meet people. And before you knew it, like, I was, like, the popular kid or the popular guy, you know? And then just people just started, like, being like, oh, like, see if you can list this or see if you can sell this. It just kind of worked its way out.

[A]

I feel like that's. Most agents struggle, right? Getting clients.

[B]

Yeah. Like, they got to get leads. Like, that's the biggest thing. And that's the thing that, like, most people when they graduate school, have no idea what they're doing.

[A]

Right. And just. I think social skills in general are tougher these days because of social media.

[B]

Yeah.

[A]

So people don't even know how to talk.

[B]

Yeah. I mean, especially, like, the younger clients that I bring out. I'm like, you got to go to a networking event and start meeting people, and they're like, you know, like, I have to get up and go somewhere and, like, go talk to people that are random strangers, you know, it's just like, yeah, that's how it is. That's how business is.

[A]

I mean, it's hard to sell a house. Over text, over DMs.

[B]

They try, but.

[A]

Yeah.

[B]

Yeah.

[A]

Not everyone's. Ryan Sirhant.

[B]

Right, Right.

[A]

Did you watch his new show?

[B]

I haven't watched his show. I read Part of his book.

[A]

How was it?

[B]

Yeah, it was good. He's a gifted marketer. Like, gifted how he, like, thinks of stuff.

[A]

That's really cool. Yeah, that's a crazy market because there's no mls, so you have to, like, be kind of innovative and, like, really.

[B]

Hustle because there's a lot of people that are doing the same hustle he is.

[A]

Right. But he's able to just network better than all of them and promote himself with social media.

[B]

Yeah. And I think he's like, you know, he has a lot of benefits, too. Like, you know, he's just a popular dude. You know, he's out there working. He just hustles. Because I read the beginning of the book and I was just like, wow, this is good. And I got to, like, the middle. Yeah, he's talking about his hustle.

[A]

Is there any TV shows about the Dallas market? Like, selling Dallas or something?

[B]

I'm trying to create one.

[A]

Oh, yeah?

[B]

Yeah. Like, I've been on a couple of shows and trying to promote something that, like, get it happening and, like, it just hasn't worked out. Like, I've talked to a couple of directors about it.

[A]

Interesting. I wonder why.

[B]

It's just like, they want more. Something. More like a cat fight. They want, like, two women arguing about something or they want something that's very, like, I don't know, kind of like Sunset right now, where it's not really about selling homes, is about, like, shoes and purses and yelling at people.

[A]

They need that drama. Right?

[B]

Yeah. I'm like, I'm all about selling houses. Yeah, let's go get paid.

[A]

Well, from their point of view, that probably doesn't get as many views.

[B]

Yeah, exactly.

[A]

Yeah.

[B]

It's probably. Probably pretty boring for them.

[A]

A lot of that drama is manufactured, too.

[B]

Oh, yeah, I know.

[A]

Yeah. Reality tv. I don't even believe anything I see on reality tv. They're trying to get views.

[B]

I really believe a lot of stuff on.

[A]

For sure. Yeah. Not even just reality these days. What shows were you on?

[B]

I was on, like, this dating show, and I did it and I, like, regretted it and never. And never aired how it didn't. Yeah, never.

[A]

Why do you regret it?

[B]

Because they would ask me to do, like, the most, like, things that I would not feel comfortable with.

[A]

Really?

[B]

Yeah. They'd be like, I like, you know, I know you sell luxury homes. I want you to, like, go out and, like, we're going to shoot this one scene where you talk about how, like, you dominate this particular city and, like, this and that and I was like, okay, well, that's cool. I know it's going to get rating. I did it. And then afterwards I was like, well, like, there's a lot of other people that are really good in this market too, and, like, they're probably gonna see that. That are my competitors and we all work together. So you can't. Like, you had to do. Two agents have to work together. So, like, I don't want to, like, create a lot of friction like that.

[A]

Yeah. They would have been like, this guy.

[B]

Yeah, like this. He's full of it, you know? And like, that's what I didn't want.

[A]

Yeah. I don't think I'd ever gone reality tv because they're just telling you what to do and stuff.

[B]

And the contracts too. Like, I couldn't do certain things. I had to post certain amount of times and like, how they do a bunch of different stuff.

[A]

Yeah, no, because I've tried to have those people on the pod and I have to sign a release form just to even have them come from the network.

[B]

Yeah. It's crazy.

[A]

Crazy.

[B]

Yeah.

[A]

They got them on like 360.

[B]

It worked out well for like, Josh Flag and like, a lot of those other people, but they basically, like, sold their soul. They can't do anything without permission.

[A]

Absolutely. Yeah. You got to be careful selling your souls. Once you get some money and attention, you're. You're a target of that.

[B]

Yeah.

[A]

You know?

[B]

Yeah. That's crazy.

[A]

Yeah. So you're done with tv, but you said you might want to try to make your own.

[B]

Yeah, I would love to. I even thought about doing, like, a YouTube series. I'm big on YouTube, so, like, I was thinking about doing a whole series. I just. I just haven't gotten around to it. It's a lot of work.

[A]

What do you think about the house flipping model? Is that still viable these days?

[B]

It is if you start out with something that's low. I think Grant Cardone has, like, the right idea with, like, the multifamily. It's just whatever your slice of thing is.

[A]

Yeah.

[B]

A lot of people think that it's really easy and it just. It takes a lot of, like, stomach to deal with tenants and people not paying rent and repairs and stuff like that. Some people love it and some people. I used to be a landlord and I hated it, like hearing all the sob stories about how they can't make rent and stuff like that.

[A]

Contractors are always way more than you expect.

[B]

Yeah. I mean, all kinds of different stuff.

[A]

A lot of headaches. Yeah.

[B]

Yeah.

[A]

Sub 2 and seller financing is hot right now.

[B]

Yeah.

[A]

But I tried it because I just bought a house and it was tough, you know?

[B]

Right.

[A]

Asking someone to not put down any money for their house, it's a tough sell.

[B]

Yeah, that's true.

[A]

I'm sure you get clients asking you for that structure now.

[B]

Yeah, I mean, like, I. I kind of get more clients have money, to be really honest. But like, when I first started, I had like a lot of clients who were just kind of like trying to get me to push them into a home. And that's like, probably the worst thing you possibly do.

[A]

Right.

[B]

It's like, hey, like, I really want a home, but I could barely afford it, you know, can you squeeze me in? And all it takes is like one really bad month and then you're out. So.

[A]

Gotta start somewhere though, right?

[B]

Yeah, I mean, it's just.

[A]

How many people are under you now?

[B]

I got 18 agents now.

[A]

Nice.

[B]

Yeah, it's a small brokerage. We're growing. It's just we have a lot of products that we sell, which is really great, and we just keep rolling. Like, the great thing about our, you know, company is me. Like, I mentor people, I coach them. It's not a situation where you just like, come in, pay your fee, you know, you get a desk, you get some time with me and like, that's it. Yeah, you can ask me questions, you can roll with me, we can go to appointments. That's how I learned the business. I was actually like, more hands on.

[A]

Yeah. So you wanted to have a hands on style with your, your firm?

[B]

Yeah, because I want to make sure, like, you know, the client journey and their satisfaction is really important to me. So I want them to have a great experience. I want them to be like, wow, like, you know, I did it with Chris and like, his company was great and yeah, his agents were great. I recommend him. I mean, that's word of mouth is huge.

[A]

Massive. People don't know. Your reputation is huge, especially these days because of social media.

[B]

Yeah.

[A]

Like, that goes fast and far and quickly. Yeah. I wonder if that will be scalable as you hire more employees.

[B]

We'll see. You know, I'm gonna have to hire more staff, basically.

[A]

Do you feel pretty overwhelmed right now with 18?

[B]

Not so much. But it's getting there because I. I wear a lot of hats, so I.

[A]

Think there's, yeah, this one rule. I think one manager for every. What is it, five on average for big companies? Something or 20? It's either five or 20.

[B]

Yeah, something like that.

[A]

Yeah. Because At a certain point you're just.

[B]

It's too much all over the place. Yeah.

[A]

Damn. That's cool though, man. I. I can't wait to see where you are in a few years, actually.

[B]

Thank you.

[A]

Yeah. So.

[B]

Long way. I mean, we're only. We're gonna be five years old in January.

[A]

Okay. So 18 and five years.

[B]

Yeah.

[A]

Nice.

[B]

Yeah.

[A]

How many houses a year are you guys selling?

[B]

Just depends. This is going to be our biggest year. But really, even though it's like a down year.

[A]

Yeah, this is a down year. Like pretty significant down here.

[B]

Yeah.

[A]

Like how, how much are prices down over there?

[B]

Not by much. Everything right now is really over inflated, honestly, in pricing. Everybody thinks they're going to get the top dollar and there's just no buyers. And that's what we're experiencing is like, there's a lot of homes on the market. I'm listing a lot of homes on the market. There's. There isn't a whole lot of buyers. Um, and now that the interest rates have come down a little bit, you know, more people are more inclined to like put an offer in, but it's still like a lot of, you know, bottom feeding, trying to get like a great deal on something.

[A]

That's why I bought now, because I didn't want to compete with other offers.

[B]

Yeah.

[A]

And that's what people don't think about. When the interest rates drop, there's going to be 10 other offers and they're going to be over ask. Because remember like three years ago, that's what it was.

[B]

Yep.

[A]

I remember when I moved to Vegas, if you didn't offer 100k over asked, they wouldn't even entertain the offer. Was Dallas like that too?

[B]

Yeah. It was like I walked into any house, it was either 40 to 60,000 over asking. And if he didn't have that, like we're walking out there.

[A]

Yeah. It's crazy, right?

[B]

Yeah. I'll just be like, oh, like thanks for coming. I mean, that's how it was.

[A]

Yeah.

[B]

I sold a house over a hundred thousand.

[A]

Damn.

[B]

Yeah. And it was pretty smooth. It was a really nice house. But like, yeah, over a hundred thousand.

[A]

That's nice.

[B]

And the lender didn't even want to accept it. Like I had to call the VP and be like, hey, like, it's Chris Bentley. Like, I'm selling this house.

[A]

Holy crap.

[B]

And like the VP of the bank and be like, you know, like. And. But yeah, he's underwater.

[A]

The VP of the bank is no, the.

[B]

Well, I'm sure.

[A]

Oh, the buyer. Yeah.

[B]

Yeah, the buyers.

[A]

Yeah. When you pay too much over asking me.

[B]

Yeah. You're just stuck with it.

[A]

You gotta have that safety net. What else are you doing outside of real estate?

[B]

So on Amazon, fba, it started out as just something that I did as like a hobby. Another guy that I met, like, he was telling me how he was killing it and it was like kind of a competition between us. I'm not really doing that quite as much anymore. And then I do capital management. I trade money or I trade stocks for people.

[A]

Oh, yeah?

[B]

Yeah.

[A]

So you're good with the. The numbers?

[B]

Yeah, like, I, like, I've been playing stock since I was a kid.

[A]

Okay. Do you do it manually? Do you have an algorithm?

[B]

I don't have an algorithm, I just do it manually.

[A]

Got it.

[B]

Yeah, I just really go with numbers.

[A]

What's your strategy? News cycles or you just look at the charts?

[B]

I look at charts. Yeah.

[A]

So that works. The TA actually works.

[B]

Yeah. So I look at like, I buy low so high. I do a lot of different things, but yeah, it's very like, easy strategy.

[A]

Really?

[B]

Yeah.

[A]

What's your track record?

[B]

Like, history, usually in like the 20%.

[A]

Damn. A year.

[B]

Sorry. Like FINRA or anybody, like. Yeah, but like somewhere in the upper. That area. Yeah.

[A]

Yeah. Well, those numbers are achievable with low. Lower because some people are managing hundreds of millions. So 20% would be really hard. But if you're managing millions, it's definitely possible.

[B]

Yeah.

[A]

Damn, that's impressive, though. So what's the structure if someone watching this is interested?

[B]

Just like they would just meet with me and let's just talk about it.

[A]

Okay.

[B]

I'm pretty flexible. Like, I just. Yeah. Everybody else is like, they have to take a certain cut and it's like a big cut and I just want people to be happy with their results.

[A]

We'll link your. Your Instagram below to again, contact with you.

[B]

Yeah, that's cool.

[A]

Okay.

[B]

Yeah, it's not my bread and butter. I just saw real estate.

[A]

I mean, 20% is no joke, dude.

[B]

Yeah.

[A]

People are looking for 10% right now. And you got people putting 5% in bonds.

[B]

Yeah.

[A]

Happy with that, but.

[B]

Or even like savings accounts.

[A]

Oh, those are even worse.

[B]

Yeah.

[A]

Like what, 1%, 2%, they're pretty high right now.

[B]

So link in the fours. Yeah.

[A]

Oh, that's higher than I thought.

[B]

Yeah, but they're dropping because interest rates are going down.

[A]

Yeah. I remember I used to use one bank called CIT bank and it was 8%.

[B]

Wow.

[A]

This was like five years ago. But it's probably like.

[B]

Yeah.

[A]

Plus it's FDIC only goes up to what, 250k?

[B]

Yeah.

[A]

So you can't really put a lot in there because if they go under. Which looks like some banks are going to go under. Right? You're probably hearing rumblings of this in the real estate.

[B]

Yeah, I mean I was in banks before, so like I kind of knew about. I had a bank job, so I just kind of know how it works on like the back end. Um, it's pretty tight. Like, I mean me personally, like, I wouldn't get into purchasing a bank.

[A]

Definitely not.

[B]

It's just like there's just not. There's a lot of work for like not much profit.

[A]

Is it true when you deposit a dollar, they're allowed to lend it out 10 times?

[B]

Something like that.

[A]

That's crazy.

[B]

Yeah. Whatever their rules are with the Fed.

[A]

How is that even possible though?

[B]

Like, because. Because the federal always pushed them up.

[A]

Wow.

[B]

So it's kind of like you being a child and being able to spend whatever you want on your credit card knowing you're mom is gonna pay for the, for the bill. And then if your mom isn't there, like, you know. Yeah. Somebody else will be.

[A]

And those are our tax dollars.

[B]

Yeah. It'll figure out something out. They'll print some more money and.

[A]

Yeah.

[B]

Tell you not to do that again.

[A]

That's crazy, man. Do you keep a lot in the, in the bank?

[B]

Sometimes. Especially in my equity accounts.

[A]

Yeah.

[B]

Yeah.

[A]

Trading and trading. Are you doing options or just.

[B]

Yeah, just pure equities.

[A]

So that's actually safe then? Yeah, sometimes options traders get wrecked. I've seen.

[B]

Yeah, it's just, I mean stock trader get it wrecked too. It just depends on your strategy and like how good you are.

[A]

Yeah, well, they could get wrecked too, but I feel like not as bad.

[B]

Yeah, options are crazy.

[A]

Yeah.

[B]

I wouldn't do options.

[A]

You never dabbled with it?

[B]

Now I watched a trader. Like I'm in a lot of like trader forums and trader sites and stuff. I watch people on Twitter and like there's one guy I follow, he does like crazy amounts of the Tesla options, right? Yeah, Nvidia and stuff like that. Yeah, like it's crazy.

[A]

And video. Oh man, if you call that one, you're chill.

[B]

Yeah, he made like 900000 one day.

[A]

I caught Shopify in college.

[B]

I was just like, wow.

[A]

Yeah, there's a few. Like if you caught Apple early or any of these big ten companies these days. Did you catch Nvidia?

[B]

I caught it. Like now they. The split and like, I caught it a couple times during earnings just for the fun of it.

[A]

But you're in and out.

[B]

Yeah.

[A]

You're not holding long term?

[B]

I hold probably, like, depends on the situation. But yeah, I probably hold. I have, like, some core stocks, and then outside of that, I'm in and out.

[A]

Okay.

[B]

So it's just crypto. I haven't dabbled, but I've been in a lot of, like, rooms with them.

[A]

That's a whole nother world.

[B]

Yeah.

[A]

Those kids are straight up autistic, like, nerdy. Like, they're.

[B]

It just. It helps if you have, like, if you're in a room with a bunch of them that are doing it, because a lot of people do have rooms. Or forums.

[A]

Yeah.

[B]

Or discords and stuff like that.

[A]

How do people watching this get access to these. These local forums and stuff?

[B]

Like, you can go on Twitter and just follow, like, some of the gurus and stuff like that, and just kind of. It's all networking. It's just I'm very good at that stuff. So, like, I just see, like, somebody else is doing something, see what they're doing, and before you know it, like, you're in a rabbit hole.

[A]

What do you think of signals?

[B]

I haven't looked into that.

[A]

I feel like if you're selling access to signals, it's usually not the best quality.

[B]

Yeah.

[A]

Unless you're, like, a really good track record trader or something.

[B]

Yeah.

[A]

But I was never a fan of signal groups.

[B]

No. Like, I never dabbled with those guys.

[A]

Yeah. The Forex stuff.

[B]

Oh, yeah. Yeah, yeah, yeah.

[A]

That's a tough space.

[B]

I have a guy that's trying to get me to invest in four.

[A]

Really?

[B]

Yeah. And I'm like, it's kind of cool. And then I did some research on, like, how some of the brokerages, like, just tank overnight, take your money.

[A]

And that happened to me. Dude.

[B]

Really?

[A]

Lost half a mil.

[B]

Wow.

[A]

Yeah. Got wrecked.

[B]

Wow.

[A]

Had friends lose millions, too.

[B]

Wow.

[A]

Yeah. I'm never doing forks again.

[B]

That's crazy.

[A]

Yeah.

[B]

Yeah, that's what I was worried about.

[A]

Yep. And any other investments you do just as stocks?

[B]

I mean, I have some people that invest with, like, bigger projects. They have, like, projects that are doing multi family and stuff like that. And I invested nice. That's kind of like a. Just kind of. Just some play change kind of deal.

[A]

Do you do a lot of personal.

[B]

Development work of, like, myself?

[A]

Just like, your mindset. Do you listen a lot of podcasts, books?

[B]

Yeah, I listen to, like, a lot of, like, motivation. I learned that when I was Broke. Like I was like, I would wake up in the morning and listen to motivation and then before I went to bed, I listened to motivation and I listened to like all kinds of people. I've listened to like, you know, all the big names to just regular people. I just. Because for me, like they may have a different angle on something that I never even like thought of.

[A]

Yeah.

[B]

That's what I really like about my girlfriend. She'll put me in some angle about something and I'll be like, that's like a really good idea. And then I'll sit there and chew on her for a couple of days and I'd be like, ah. Like I know what she was talking about or I know what her he was talking about. You know, just some interesting thing.

[A]

Yeah. I asked you that because you were in the green room with headphones on. I've actually never seen a guest do that.

[B]

Yeah, I was just listening. All motivation.

[A]

I could tell it was something.

[B]

Yeah.

[A]

Something important.

[B]

Yeah. Well, like I get in the right mindset, you know.

[A]

Yeah. And the girlfriend thing, I can relate with that too. My fiance.

[B]

Yeah.

[A]

Oh my gosh. She humbles me.

[B]

Really.

[A]

Yeah. I feel like I'm making all the right decisions and. Yeah, you need that outside perspective or else your ego will just take over.

[B]

Yeah. Or you'll go down like the wrong path.

[A]

Yeah. Because, you know, it's easy to have yes men around you once you have some financial success and then you just think you're hot and then like the.

[B]

People that you pick up are people that are telling you the wrong thing. And the only reason why they're telling you the do that is because they get paid on that.

[A]

Yeah.

[B]

And then you're just like. Well, like, you know.

[A]

Yeah. I got pulled in so many ways when I started making money to invest in this, invest in that and they, they would get a commission. I would end up losing the money.

[B]

And they're really not your friend for the.

[A]

Lost a lot of relationships. You don't want to lose relationships over money ever.

[B]

Yeah.

[A]

That's not a smart thing to do. It's so short term thinking, what are your long term plans and goals?

[B]

Top three, obviously in Dallas.

[A]

Where do you rank right now?

[B]

Like at the bottom pretty much.

[A]

Okay. So you got a long road ahead.

[B]

I got a long road. Yeah. But I knew that coming in.

[A]

Yeah.

[B]

Yes. When you start a brokerage with like, you know, not a very big name and then kind of like grind it out through word of mouth and social media and that kind of stuff, it's Difficult, but it's cool like that. I like it. Like, that's the. The challenge of it.

[A]

How many employees you think you'll need to get to the top? 3.

[B]

Probably 180.

[A]

180. You're 1/10 of the way there.

[B]

Yeah.

[A]

Not bad.

[B]

Yeah.

[A]

And those guys probably raised money and had all sorts of connections, so it'll be just.

[B]

It'll be a fun journey. Like, that's what I'm really looking forward to is, like, the journey more than just, like, the numbers. I've always been that way. Like, it really doesn't matter about the money. Like, money's money comes and goes, but, like, the journey is where it's cool.

[A]

That's what I realized, too, with money and journeys. Journeys are way more fun.

[B]

Yeah.

[A]

Yeah. It's a blast. I look back at, like, working in my mom's basement, it's like those. Those were the glory days, honestly.

[B]

Yeah. I mean, me too. I was like, man, like, being broke and, like, having to actually go out and, like, hustle and, like, hustle hard because you got to make rent and there's no other. Like, you got to make rent or else, like, you're out. Like, you're living under a bridge. You know what I mean? Like, it's not like this whole, like, oh, like, you know, like, I'll survive tomorrow. It's like, no, like, you got to make it, like, yeah, you got to make that sale.

[A]

Backs up against the wall, right?

[B]

Yeah.

[A]

That's when I'm the best, too.

[B]

Yeah. I was like, I can't, like, try to explain that to agents, especially, like, newer agents. I can't explain that to. And, like, I had this one guy when I was doing financial services. He was. He would tell me, he'd be like, you know, if you want to be successful, you got to give me all your money. Like, just strike me a check for all your money. I'll hold on to it until you do get successful, but that's the only way you'll be successful in this business. And I was like, yeah, yeah, yeah. This guy's full of it. And then, like, now that I kind of see it, it kind of makes sense, because, like, if I took all your money and that was it, and you had to go survive, like, you have to go figure it out.

[A]

Yeah, absolutely.

[B]

Be no safety net. You have to figure it out.

[A]

That is an interesting perspective.

[B]

Yeah.

[A]

Yeah. A lot of kids are comfortable right now.

[B]

Yeah.

[A]

Yeah.

[B]

Or they have a backstop. They'll be like, oh, that's my parents board or something.

[A]

Go back to my mom's house. Yeah. Chris, it's been fun, man. Where can people keep up with you? Your social media.

[B]

It's Chris D. Bentley. And anywhere on any handle, pretty much on social media or chrisdbentley.com boom.

[A]

But, yeah, link below, man.

[B]

Yeah. Thank you for having me on the show. I really appreciate it.

[A]

Absolutely. That was cool. Thanks for watching, guys, as always. See you next time.

[B]

Take care.