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Real Estate Investing School Podcast
173. Aligning Life Goals with Real Estate Success
01:07:47
Welcome to the Real Estate Investing School Podcast. In this episode, Brody Fausett and Joe Jensen dive into a discussion about lifestyle and real estate investing. They recount personal stories and shared experiences, illustrating how their real...
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- [00:00]
A
Focus and attention is like, your greatest skill and your greatest asset, and you need to, like, hone that and train that consciously. Welcome to the Real Estate Investing School podcast. I'm your host, Joe Jensen. Our guest today, he doesn't really need an introduction. It's our boy, Brody Fawcett. How you doing, man?
- [00:26]
B
Good, dude. You need to sound a little bit more excited to do this. There you go. We need, like, those. Those buttons you press, and then, like, you get the applaud and everything. Not excited for me. I mean, excited to. To talk real estate, dude.
- [00:48]
A
I'm excited to. These are always fun. I. I don't know. It's been a minute since we've done one of these, but it's always fun to get back on and just kind of jam on what you're doing, what projects you're doing. Just kind of state of the market and everything going on. So I'm excited.
- [01:02]
B
Yeah, same with you, dude. I'm excited to jam with you and just pull some tips from you and just some strategy and some really even lifestyle stuff. I want to jam a little bit on today, and I think that a lot of the listeners are going to get a ton of value out of a lot of things we're going to talk about. So excited just to jam in general, and I think so many times we get different guests on where it just goes into their story, and there's so much to learn from that. But I think every once in a while, too, it's good to just have a candid conversation about real estate. The stuff we're working on, what the market looks like, just kind of where things are at in general. So excited to do that with you, man.
- [01:40]
A
Love it. Love it. Well, let's just start out with. Then what. What is kind of your thoughts on the market right now? You know, obviously, there's a lot of different directions you could go with that, but people always have all these different opinions. You see stuff on social and, I mean, what's kind of your take on it in general?
- [02:00]
B
Yeah, such a big, broad, important question, right? I think first thing that comes to mind is we put way too much weight on the market as investors. Now, that might sound counterintuitive, just in general, right? Because a lot of people like, oh, you have to understand the market, and it's so important with investing, and it is to a certain degree. But. But. But, like, letting that hold you back from investing and from moving forward is gonna hurt you way, way, way, way, way more than it is. Understanding the market perfectly and waiting Till you understand it. To get into the game or to make a decision in real estate. So what I mean by that. Yeah. Why do you love that?
- [02:45]
A
Just cause like, I mean, probably what you're gonna expound on just like say so many times, it's almost more about understanding how markets work than worrying about what the market's doing now. It's like, okay, so interest rates are where they're at. Like interest rates are always an instrument for me because I'm always like, I don't really care. It doesn't affect how I do my business, where the interest rates are at. If I run the numbers and it cash flows and it's going to be a self sustaining debt that fully covers its debt. Like I'm good to go now. Is that going to be harder to find with interest rates higher? Yeah, but it doesn't change anything about how I run the numbers or how I find things. Like it doesn't change anything about how I do my business and for long hold stuff, you know, obviously that's different if you're flipping and doing land development, you know those people, the market's a lot bigger of a factor and a lot scarier to deal with. But for the stuff that we do, it's like, who really cares?
- [03:41]
B
You know what I mean? Yeah, 100%, dude. Yeah. I'm going to go on a limb with this analogy, but let's say to like equal a hundred, right? Let's say like the number 100 is like the perfect real estate deal, right? Not even saying perfect real estate deal, but it's a win inside real estate. How many different ways can you get to the number 100 mathematically, I mean.
- [04:07]
A
And I mean thousands, I'm sure.
- [04:10]
B
Yeah, you got like 1 plus 1.
- [04:12]
A
Plus 1 plus 99 plus 198 plus 2. There's a lot of ways to get to 100, right?
- [04:20]
B
Yeah. I think to your point, what happens is when people start focusing so much and letting the interest rate dictate what happens, it's almost like looking at it as the interest rate is equal to 100 and if it's a bad interest rate and it's all of a sudden it doesn't equal 101, I can invest, right? Or if it equals 99, like I can invest as opposed to understanding that those numbers are just variables and they can change. Like the interest rate can be the number two. Right. And the creativity on a deal can be times 50 and it can be that 50 number. Right. Or the, you know, the, the way you finance a deal that can be, you know, that can outweigh this interest rate number. And so that's a.
- [05:04]
A
No, I think that's a good analogy because it does. It's like there's. We just put too much weight on certain aspects of the pieces of the puzzle. And it's like, okay, so that part's not as a strength right now. So where's the other strength? You can still get to 100.
- [05:18]
B
I love that. Yes. Yeah. 100%, dude. So. So that's kind of my thoughts on the market in general. Like, rarely do we see things where everything all of a sudden changes, right? Where, like, interest rate changes, house prices change. You know what else is in there? All of a sudden the way that loans are done changes. The economy is completely changed. Jobs are lost. Right? Like, all that doesn't happen. A lot of it's inversely related, if that's. If that's the word that you kind of use, where, like, if the interest rates are changing or are going up, what's happening? Like, prices are usually going down, right? So, like, there's other pieces of the puzzle that are shifting and changing and things like that same thing goes with, like, when things are more competitive or interest rates are higher or house prices are higher, like, there tends to be not as much competition, Right. Like, that's the purpose of it, is it's driving the competition, right? So when that happens, there's more opportunity because there's less competition. And so just understanding, like, the market, when the market changes, it's not a good market or a bad market. It's simply understanding, like, there's good aspects and bad aspects. When that happens, just to your point of understanding how the market works, not what the market is. And then based on understanding how the market works, you can take advantages of these different opportunities of cool. This is an opportunity where the market's weak right now, as opposed to, like, oh, this is a bad time to invest because the market's strong in this. In this area.
- [06:53]
A
Yeah, I made perfect example on that. You know, everybody's like, oh, they're waiting. They wish they had lower interest rate. They wish they had lower interest. And like, guys, do you remember when the interest rates were low and Every deal had 55 offers on it and the sellers were requiring hard, earnest money and no due diligence, period. Like, that was a rough time in a lot of ways, you know? And I just had an offer today, actually. The guy called me back, the agent. He's like, hey, they want. They're not going to take your offer unless it's hard earnest money. And I was like, kick rocks, dude. Like, it's not 2021 right now. Like, I'm not getting hard earnest money in today's market. I don't have to, you know, and so it's like there's pros and cons either way. And, and, and as far as the market goes, just kind of, then we can pivot. But I think a lot of it is like, there's a difference between speculative and investing. Like, investing isn't really speculative, in my opinion. And if the decisions you're making are really heavily weighed by the market, you're speculating, you're not investing. Because if you're truly investing, the market will do what it's going to do and you're going to win either way. But if your winning is dependent on what the market's doing, that's very speculative because you don't have any control over that 100%.
- [08:12]
B
So anyway, who wants to have a strategy that's based on pure luck and chance, you know, because ever. Yeah, I think to the last kind of point I'd make to all of this is whose advice are you taking? Majority of the people in the world do not invest in real estate. And even if they do a little bit, it's not something that they're fully understand. Right. It might just be something on the side and they're like, they dabble in it a little bit. So this, this idea of we're hearing all these things about the market and this is happening that. Well, yeah, maybe it's how it affects real estate agents, maybe it's how it affects lenders, maybe it's how it affects, you know, home builders. What, whatever. That's usually the narrative that you get, right. In general, the stuff you hear on the news or this, that, that, that, that maybe it affects flippers. Right? Like, but just understanding that just because that's a narrative you hear, that doesn't mean that applies to you as an investor, especially as a cash flow or a passive income investor. Because a lot of times, as you know, Joe, we'll overpay for a house. Like, we'll pay more money than it's even worth. And most of the world says that's a not smart decision. You shouldn't do that. Right. Why would you do that? It's dropping, it's declining in value, whatever. We understand that it's cash flowing extremely well. We got it with a low down payment. Our cash on cash return is through the roof. And eventually it's going to go back up and there's going to be appreciation. That's cherry on top. Right? So just, just be careful what narrative you are actually listening to and who. Whose advice you're actually taking. I love that.
- [09:51]
A
I love, I love that, man. So what else is on your mind, dude?
- [09:55]
B
I want to, I mean, I want to jam on some stuff with you. We've been working a little bit closer together lately, just within like the mastermind group and some lifestyle stuff and some branding stuff and some real estate stuff and passive income and retiring early and all that stuff. So I have a list of questions I want to go through with you, but before you dive into that, I mean, is there anything, anything that you wanted to jam on specifically?
- [10:27]
A
No, not really. I want to hear about some of the projects you have going on, but we can get to that in a minute. I know you're working on this new, like, glamping side of seeing some images on that, and I just think that's. That's kind of cool. It's almost becoming your niche, which is interesting. I love how people, you just can almost like rebrand themselves. Like, oh, at this point, this is your niche, like student housing, you know, and then it's like, oh, not like tiny home resorts. And they're like, what's he going to do next? Like, what's his next, like, kind of niche thing going to be that he, like, gets into? But it's cool to just kind of see where it's all running right now.
- [11:00]
B
Yeah, thanks, dude. No, it'd be fun to jam on for sure. And I think for me, because I think it's easy to look at all these different strategies in real estate or even look at what I've done, and it's like, oh, he's all over the place or all across the board and shouldn't you just. Just focus? Right. And I think that it might look like that from the outside, but, like, my overall principles of investing haven't changed. My overall mission hasn't changed. Right. The mission's always been to, hey, how do I get the highest cash on cash return and produce the most amount of cash flow to ultimately live my dream life and to have my passive income fund the lifestyle that I want to live that allows me to do the things that fulfill me and to give back and all these different things that fulfill fire me up. Right. And so, yeah, the. There's different ways to get there within real estate. And so that's kind of what's fun. And that's what I Feel like, you know, makes, makes us. Because you've done a lot of different stuff too qualified to teach people the different ways. Because not, not every single strategy is going to be the best for a certain person. I think that's one of the downsides of like media today is you get one strategy that's like jammed down your throat. Right, Right. Yeah. And it might be flipping, it might be wholesaling, it might be sub two where it's like, you have to do this, this is the only way to do that. And that's the first thing. Like anytime someone tells you this is the only way to do something or you have to do it this way, that's like, should be red flags all over the place. Because it probably works, right? It does work, but it doesn't mean it's going to work for you. And so I think, understanding, hey, where am I at? Where do I want to go? And then what's the best next strategy that's going to get me to where I want to, where I want to be, where I want to end up. And so yeah, it's just important to understand those aspects of it and then hone in on that one.
- [12:49]
A
Well, it's so custom. I was recently asked like, oh, what's the secret sauce of like a successful student? You know, Cause I coach a few of the students. It's like, what's like the secret that like works for everybody? And I'm like, there isn't one. Like that's the whole point is these are one on one things because it is different for everybody. And it's not even different just for every student or every investor. It's different for every investor every couple years. Like what you were doing and what made the most sense for you five years ago is different than what makes the most sense for you today. You know, I think of that quote where they're like have a dream big enough to fit everyone else's dreams underneath it. And I think that's kind of the, the projects you're doing now. I'm like, these are these cool big, you know, kind of resort projects make so much sense because you do a lot of partnership stuff, you bring in investors and if you're just doing these little one off, you know, duplexes, like there's not really room for someone else to come in and make a grip also. But if you do a whole resort, yeah, it's going to cost a couple million dollars more. But now the dream is big enough to bring in more people. And so it plays into your Your actual strategy for that project, and it's just cool to see how it works. And again, in five or ten years from now, you'll be doing something else that makes more sense for your strengths at that time, you know? And that's how it should be.
- [14:09]
B
Holy, dude. Yeah. Yeah, I hope so. It's kind of like the thought of, like, I think we hold on so much to these certain beliefs that we have in general about life and principles and especially real estate. And it's almost like this pride factor, you know, Five, ten years go by, and it's like, yeah, I still believe this, and I still think this. I said this 10 years ago. I'll say this today. And it's like, is that actually a good thing? I think a lot of times we need to look at it the other way around. Like, it's a good thing to change your mind. It means you're growing, right? It's a good thing to have a different opinion on something in a certain. Certain aspect, because it means you're open to changing and developing and you don't know everything. Right? And so I want it to be like that as I continue to get older and more experienced as well. But I also, like, I know you're big on. I want to get into, like, your purposes of life because I know you have, like, three main things, but. But one of them in a, like, leak it right now is experiences. And that's kind of the same thing. For me, that's part of my mission statement is, like, creating experiences for people that. That they wouldn't normally have. And those experiences tend to, like, shift their mindset. And I want to be the person that, you know, at the end of the year, you. You ask, I don't know, my family or friends or whatever random people. It's like, hey, what was the highlight of your year? Looking back on the last 12 months, what was the highlight? And it. They say something that, like, oh, yeah, when Brody took us to his tiny home resort, or, yeah, when he put on this, you know, couples goal setting workshop, it shifted our paradigm to do this, this, and this, whatever, right? That. That, to me, is, like, fun and exciting because you can have this ripple effect in other people's lives because then they change and they dream bigger, faster, and they help other people do that as well. But, like, going back to all of that, like, for me in real estate, it's the same exact thing. I remember this was the third property that I ever bought, and it was. It was a condo, and it was like a stepping stone. To having a cabin. And for me, like, a fun investment, because it didn't cost me a lot of money to get into it. It was an Airbnb. I made good money on it. But then, like, as like a young kid, if I had friends getting married, I could like, write them a card and be like, hey, here's a. Here's a discount code as your wedding gift. You know, go stay a weekend here on me. Or like, just being able to offer to family or to friends or like, randomly. I don't know, something like, simple about that. It just, like, fired me up. And so it's just interesting looking back at that and how that's kind of like, compounded into, you know, these different resorts and having handfuls of units to where it's like, like we're getting together with, like, my whole family, you know, having like, more of a family reunion there now. And this new. This new resort, like, the way we're designing it is super fun and super exciting. But, like, with a few of my partners that are entrepreneurs, they're into, like, mindset and just different personal development stuff. And so we want, as well as, like, fitness and wellness. And so a lot of the things, like, like we have like a sauna facility, we're doing like, cold plunge kind of as part of that. And then we have an outdoor gym that we're putting in. And just the vibe of it is to where we can host different, like, entrepreneurial retreats and wellness retreats and just kind of creating that experience and vibe. But you're combining it in a way where you get to utilize real estate, you get to utilize creating experiences, you get to utilize working with your friends and that creativity side of your brain. And then the cash flow is insane to top it all off. And you're doing that with a high cash on cash return. To me, that's like a win. And it checks all those boxes and it's a win for other people. And so that's when real estate gets super fun and super exciting. And so obviously I'm passionate about how all those align. Yeah, that is exciting, dude.
- [18:05]
A
It's cool to see you piecing it together and, and like I said, and then, you know, depending on who you're working with, that affects the, The. The vision and it, like, it. It pivots and it adjusts and it's. It'll cool to see the final product.
- [18:18]
B
Yeah, man. Well, I. I recently listened to a podcast that you were on. It was kind of fun. Cause it wasn't. It wasn't all about real estate, but going back to, like, your purposes of life. Like, you said three things. I wanted you to share those, if you remember what they are.
- [18:35]
A
I definitely do. Yeah. No, this is pretty deep.
- [18:38]
B
So.
- [18:40]
A
Whole concept I've been putting together called the. The love and life framework. And if anybody wants a copy.
- [18:45]
B
The Love and life, or love. Love in life.
- [18:49]
A
Like love and life. Like loving life.
- [18:52]
B
Okay. Love and Life. Like, okay, I got it. Cool.
- [18:54]
A
Love and life.
- [18:55]
B
Yeah.
- [18:56]
A
But if anybody wants a copy of it, they can just go to my link tree. It's just my Joseph F. Jensen dot com. Go to that website and you can just find it there and I can send you one. But. But in it talked about the three pieces of purpose. And I think this is, like, really everything the purpose of life boils down to. These three pieces is experience, serve, and create. And the cool thing is, at different times in your life, just like we were talking about, you're going to pivot your real estate strategy differently. Depending on different times in your life, you're going to pivot how much you focus on those different parts of the three pieces of purpose, depending on your purpose or your period of life. You know, one time you'll focus more on service. Another time you'll focus more on experiences. Another time you'll focus more on creating. And it was interesting when you were talking about, you know, what you like to do with real estate and these retreats. I'm like, dude, you're literally doing all three in one. And that's why it sets you on fire so much, because you're. You get to have the experience along with everybody. Like, it's an awesome experience when you put these things together. But then you're also serving people. You're like, oh, it's so cool to be like, I want people to be like, I had this thing with Brody, you know, and it's like, you're just serving people by providing these opportunities and experiences, and you're creating something. You're literally creating resorts. You know, you're literally creating opportunities. You know, you're doing so much creation. You're building a brand and a company and a business and memories. And you're like, you're creating so much. And so it's like you're doing all three in one, which is probably why it's so exciting.
- [20:33]
B
Yeah. Yeah, totally, dude. Yeah. It's kind of like. It's kind of like having a why versus having a bag of wise. I know, Like, Iron Cowboy talks a lot about that. Okay, what was your why? To get you through all this, he's like, I didn't have one. Why? I had a bag of whys. Because the more reasons you have to do something, the more draw, you know, or the more power you're going to have behind actually doing it.
- [20:54]
A
So I think a lot about parenting is, is a big season of service. You know what I mean? Like, you're serving your kids, you know what I mean? Like, yeah, before, when I was first having my very first kid, I thought about how like, like this is like the ultimate service project. I used to go on these like international trips every year and like, you go in and you like, serve some people, you like, build a house or, you know, I don't know, help them out in different ways. And I'd done a couple different types and it was like, oh, it's so cool. But it's so short. You're there for a week or two and then you disappear. I'm like, dude, raising kids is like the ultimate search project where you get to go as deep as humanly possible and helping someone have an amazing life and that's a service period, you know. And so some people, you know, you're 21 and you're single and you have no kids, like, that might be more of an experience focus. And that's your purpose of life right then, is to go experience and grow. And then you have kids and it's more service oriented and, and then, you know, you're getting a little older and you have some resources and you want to create something like a legacy and then something more long lasting, creative business or whatever. And it's like, don't, don't be distracted. I think this is a big principle and with real estate, but with everything is don't be distracted on what step someone else is on or what phase someone else is on or even what phase you want to be on, but you're not there yet. If you're right here, just focus on that. Don't feel like, oh, I need to be serving more. If, if you're on the experience phase, that's okay. Lean into what is setting you on fire and there'll be a time to do the next. If you're building your cash flow, lean into that. Build your cash flow portfolio and then you can go do the passion projects that maybe won't make as much money, but they'll have an awesome exit down the road and a waterfall ending. You know, it's like, well, don't worry about that right now. Like, focus on where you're at and lean into it and then the next phase will come and you'll know when you're ready.
- [22:50]
B
Yeah, I love that, dude. I love that. Just because understanding that concept in general, it allows you to go into experiences or life with a different outlook, which I think allows you to be a lot more patient. Or even just your example of looking at having kids and raising kids and looking at as, hey, this is a service era of my life. Like going to, with that attitude or that mentality or understanding changes everything because you don't have all these expectations of like, this is the way it's supposed to be, or I'm trying to do this, or I'm trying to get this done, or you don't have a different agenda, but instead you're able to embrace like, hey, this is this time of my life where it's my time to give and to serve. And it, yes, it's exciting and rewarding in so many like deep, deep ways. But I think if you're mentally in a different era, when you're supposed to be in this, this service era, it ruins everything.
- [23:49]
A
It ruins and you can have all of it. It's just, it gives you the priority though, like I just had this in and said there was some concert or something I want to go to. And it was at the same time as my, my five year old has this little wrestling clinic is like his first wrestling competition. And it's like it's going to be a joke. Like they have no idea how to wrestle. He's five, he's been doing it for two weeks. Like the thing's going to be a joke. But in my priority list, like my kids, serving my kids is just that, that's the number one priority. And so if, if I'm not with my kids, yeah, I'll go to a concert, I'll go do this, I'll have a cool experience or go create something. But when there's a conflict, I don't have to emotionally like, oh, what should I do? It's like, oh, well, decision's easy because this is the period I'm in. This is the focus of where I'm at. I'm leaning heavier into that aspect. So there's just, there's no stress in making that decision. It's like, okay, well I'm gonna be at his silly little wrestling clinic, you know, because that's the priority right now. Everything else is second place. And when you lean into that, yeah, it creates a lot of peace when there's a lot of cognitive dissonance and conflict. If you're like, constantly trying to battle which one's your priority.
- [24:57]
B
Yeah, Yeah. A good example of just of that is just not separating, like, work and play and family and. Right. Like, if it all is just this blurred together thing and you don't understand, like, one year my mantra was flipped a switch because I just wanted to get so good at going from like, okay, work's done. Like, flip. Like, now it's service mode, right? Or like, now I'm a dad and I need to be all in on this. Or else, like, same thing when I'm working, right? Like, if I start blurring the line too much, it. It causes problems in different things. And if you don't do what needs to be done when it needs to be done, you don't get to do what you want to do when you want to do it well.
- [25:37]
A
And it goes so deep with same with real estate, right? It's like, if you're so focused, if you have a choice between this really cool project and a deal that's going to cash flow a ton and you're still in your cash flow phase of building your cash flow to live off of, it's like, oh, I know what my priority is. If an awesome deal comes along and I can tackle it, cool. But my priority is, boom, to build my cash flow or whatever. You know, if you're a flipper, your priority is to flip. You're not going to get distracted when it comes to the choice between the two. And so the principle carries over with investing big time. And you got to know what your priority goal is. Even if you have multiple goals, what's your priority goal? And like you were saying, even down to the day, it's like, oh, I know how you. You do this a lot. Where he's like, today is like business building day, and you focus on the business. This day is real estate day. This day is, yeah, my day. And I get a chill, and you kind of break out your days and so you can just focus on where you're at. And you know what your priority is in that hour, that day. It just makes life so much simpler, you know?
- [26:41]
B
100, dude. Yeah. And I. I sent. I don't know if you saw that text, but I sent a book recommendation to our mastermind group text this morning. Morning, James.
- [26:52]
A
Clear. Right. I love his stuff.
- [26:54]
B
Yeah. And everyone knows him for atomic habits. But this book's called Master your focus. But anyhow, a lot on those same principles. And that's what I found is you start jumping from task to task to task too often or you're in defense mode, someone messages you, you respond right away. Like, you're constantly in reaction mode, and it doesn't allow you to get into this flow state and accomplish stuff. But that's kind of why I started separating out my days. And even, like, if you look at my calendar, it's full at the beginning of every week just because it's all time blocked out with certain things. And so when something does come up or a task does come up and it needs to get done, the first thing is like, okay, cool, can this go to this day during this time block time? And can I just move it over there? And then I can focus on all those things that have to do with that same business or that same project all at once instead of trying to solve it right now, and then I don't get anything done that's time blocked for this period. So that book is really good with just like, hey, saying no to certain things and just different hacks on how to do things that allow you to stay focused.
- [27:58]
A
Yeah, I love that. Like, focus is so good. There's this quote I got to see if I can pull this up here that I got to share because it just plays so well into this. It says, oh, maybe I didn't find it, but. But it just talked about how it's like, your attention, like, treat your attention and your focus like you're a professional athlete and that's your sport. Like, that's how important your attention is, and that's the world we live in. Like, everything's trying to steal your attention, right? Every influencer, everything's just trying to take your attention. If you, like, you realize, like, focus and attention is, like, your greatest skill and your greatest asset, and you need to, like, hone that and train that consciously, just like you would if you were a professional athlete trying to be whatever that focus is. Like that. I just. I don't know. Like, that really hit me. I was like, man, how often do we think about training and strengthening our focus? That important? But, yeah, your attention is. Is everything in today's crazy world.
- [28:57]
B
Reminds me of two. Two other quotes, too. One of them was actually from that book, but he just talks about, like, your time and guarding your time and. And just. Just from the standpoint of if somebody, you. You say that time is more valuable than money, but you're not just giving out to money to anybody who comes up and asks you for it. And I was like, oh, like, that's true. That makes sense, you know? And then the other the other quote that I like is diluted focus yields diluted results. And I think that one's a big one. And then the other book on focus that I love is Free to Focus. I think that's Michael Hyatt. I love, love, love that book. Free to Focus, that's another good one. But kind of transitioning. Before we do, I just want to share, share a story that you probably remember Casey Baugh talking about it. We were all in his living room a couple months ago and you remember the story that he told about his dad and asking him if he wanted to go on his private jet to the basketball game. I think this relates so well to just like this, this topic that we're on right now of like, hey, this is a season of life or this is your next thing and staying focused on that next thing and not getting too distracted with these other things. And anyhow, he just like shared the story like the other day how like now he's got all the stuff, right? He's a worth 100 plus million dollars. Like he has a jet or two. I don't even know now, but like he hits up his dad, hey, dad, I'm going to this, you know, business meeting I don't even remember it was at, but he's like, there's a game going on. His dad's a huge college sports fan and love this team. And he's like, I'll pick you up on the jet. You know, we'll be, we'll go there, we'll hit the game together and then we'll cruise back in a couple hours. And anyways, dad's just like, I can't. He's like, I'd love to. I just, I can't, you know, and his body is just getting too old and just what it was going to, kind of like the toll was going to take on him to be able to go and do that. He just couldn't, couldn't go, you know, as bad as he wanted to. And it just, it made me think, in case he was talking about how he was so grateful for all the other experiences and the sporting events that he took his dad to and flew his dad out to, you know, like throughout his life. And it just, it just made me think, you know, time is the one thing that we're not promised. We don't have enough of money. You can get enough of that, you know, but like time, there's nothing like in that situation that he can do. He has the jet, he has all the money, he has everything. He Needs. But. But there's no way he can go and solve that problem, so to speak, maybe if it was five years ago or 10 years ago. And so I think the moral of the story, it's not necessarily like, hey, just, just go grind earlier and grind harder, even though maybe that's part of that. But I think a couple of things, it challenges you to think, like, hey, can you go accomplish what you want to accomplish a lot faster than you're on pace to do that? And that might cause you to think differently or solve these, these bigger problems sooner, but is that something you're capable of? And I think the other thing is just to your point, like, if we get too distracted and going too many different directions as opposed to doing what needs to get done when it needs to get done, because we know that that's the next thing that's going to get us on this path, then that's something we really need to stay focused on. Because if not, it's going to affect us long term in other ways that we might not be able to understand right now. And then I think just number three is understanding, like, what your priorities are and what's most important and not sacrificing too much outside of that. Just to Casey's point, it gets to this stage where if you didn't take advantage of those opportunities you had, maybe with family earlier on, or opportunities to serve others, or opportunities to go make an impact and inspire people or whatever lights you up. If you're passing on too many of those things that are most important, they might not be most urgent, but they're most important. And you let those most urgent things take that place, then eventually I think it leads to a lot of regret later on.
- [33:17]
A
Yeah, man. It's funny, you know, I. It carries over to so many aspects of life. I think with real estate, obviously, that's what we talk real estate, right? It's like action is so important. Like, how many everybody's. What's everybody's biggest regret with real estate? Like, what's the most expensive mistake you've made? Or your biggest regret with real estate date? Everybody's answer is, always wish I had bought more sooner, right? It's like, I wish I'd just done more. And it's like we, we come up with all these excuses of why not to go on that trip, why not to go see that family member, why not to buy that next deal, why not? You know? And it's like, dude, even if you just did it, even if it wasn't perfect, like, maybe you don't have a jet to fly your dad across the country. Like, some people, like, who cares? Like, go talk to him for five hours Saturday evening until it's bedtime, and just, like, that's probably all he cares about anyway.
- [34:14]
B
You know what I mean? Or five minutes. Or five minutes, you know, or five minutes a week. Like, that might. Well, I think that was so cool about this, you know, his story is. Because I think we can almost trick ourselves into thinking, hey, once I have the jet, like, then I'll be able to go do all this and I'll be able to make up this lost time. Or like, this is why I'm doing it. This is why I'm grinding. This is why. And then you realize, like, no, it was. It was all those moments earlier on that actually made the biggest impact, because you can't even take advantage of this situation that you're in now if you don't take advantage of the situation you're in currently. Yeah.
- [34:51]
A
And it's true with our parents, it's true with our kids, and it's true with our portfolios.
- [34:55]
B
I mean, it really is.
- [34:56]
A
It's like, man, some of the best deals I got were just these mediocre whatevers that I just did. And then 10 years later, it's like, wow, I can't go back and buy 20 of those. I wish I could, but it was really glad I did what I did. Do you know what I mean? So more action is almost always going to be better than. Than less and basically every aspect of life.
- [35:19]
B
Yeah. 100, bro. All about that. Kale, I got some questions for you. Uh, I love the lifestyle stuff. Um, last kind of lifestyle one, and then we'll pivot into more, like, real estate specific. Um, in a lot of ways, dude, I. I envy this, like, what's the word I'm looking for? I don't know a good word for it. But you have. You have this almost like, carefree attitude about everything. And that's a compliment just as far as, like, spontaneous adventure spirit right about you, where it's like, dude, let's. Let's go. You just down to go have fun in. In the moment and. And create these memories. Whereas for me, sometimes I struggle with that. Right? Like, I struggle like, surfing as much. That's actually like, one of my goals is to surf more, right? Because it sounds so silly because I actually love to do it and it's actually really fun for me. But if I don't make time to do it, there's all these other things Where I'm like, I'd rather like get this done this week and then I can have all day to surf Saturday or whatever. Right?
- [36:34]
A
Yeah.
- [36:35]
B
When reality is like, I could go surf every morning for an hour or two hours. It won't affect anything. Right. So how one, how do you get that? And like, why, why do you gravitate towards this stuff? I know you just barely did a spontaneous. Was it 50 miles or 50k?
- [36:52]
A
50K? It was like 31 miles or something like that.
- [36:55]
B
Cool. So I know that was spontaneous, right? You weren't planning on doing it. It was like fairly last minute.
- [37:00]
A
Next day. Yeah, I was just at my buddy's place, Seth. He used to be in the school. That's how I met him actually. Which is dope because he's like one of my best friends now.
- [37:08]
B
Yeah, I love.
- [37:10]
A
But we're just like, yeah, I just had his kid's birthday party and I'm like, what are you guys doing tomorrow? Should we get the kids together? He's like, oh, I'm doing this 30 mile trail run race thing. And I was like, oh, that's cool. I should come like pace you for a couple miles. Um, and then like, the more we talk about, I'm like, well, maybe I'll do like 15 miles. And then like literally the morning of. So I wake up, the race was starting at like 6:30. And I was just gonna go run a few miles with him at the end, but the morning of, I wake up and I'm like, I woke up like five and I was like, well, the race doesn't even start for another hour and a half. I have time to get ready. And so I just got my stuff together and went out that morning just. And I met them at start line. They're like, oh, you're here right now. I'm like, yeah, let's just, we'll. I'll just see how much I can do. And anyway, I ended up doing the whole morning. I. It was, it was literally until mile 16 that I was like, yeah, I guess I'm gonna do the whole thing. And I ended up doing all of it. So, like, it was impromptu thing. It was fun.
- [38:07]
B
Oh, that's awesome, dude. I've ran probably too many marathons like that where the night before someone's like, I have an extra ticket, so and so dropped out and it shows up under their name. And I think sometimes it's even been. Been women and hopefully didn't mess up like the bracket too much, but you killed it. Just don't show up for the award ceremony. But no, I love that about you, dude. I love that. I remember one time, too, we were. We were staying at this kind of, like, glamping resort. And, like, where's Joe? And I, like, look up on top of this mountain. You have your, like, yoga mat. Like, out there's, like, this. The sun's going down, and it's like this perfect sunset. Like, on. On you, the sun's just shining. Everywhere else is shade. Like, doing some yoga stretch thing. Right? So I think that's super rad, dude, just being, like, present in that type of a way. Why do you gravitate towards that stuff? Do you have any insight on that, or is that just you and that's who you are?
- [39:08]
A
No, I don't know. I mean, so a couple things I would think about. One, a lot of it does involve, like, nature and the outdoors. And I think there is something inherently, like, healing. I don't know, maybe that's a cheesy word to say, but. But inherently powerful, inherently healing of being in nature. And, you know, some people, maybe they didn't grow up around nature. They're more uncomfortable with that because of bugs or the temperatures or just that. And so it kind of holds them back from that. But I truly believe that anybody, like, spends more time in nature, like, they will see a huge benefit. And so a lot of the things I do, it's. It's intermingled with that. So it's. It's in nature, but. But then when you get to add a physical element to things, it just, like, brings you more present and. And changes the whole dynamic. I remember hearing about this thing was like, if you're using your body, you'll learn better. Like, I listen to, like, podcasts and books when I run, and I will, like, take those in and understand those concepts so much better than if I'm just, like, sitting there or even listening in my car. I listen to my car a lot too, but it just doesn't hit the same as when you are physically active. Like, the things come clear to your mind. And so, like, I think I have my, like, best inspirations when I'm doing these things. And you get to push yourself. So it's just this awesome combination of pushing your body, pushing your mind, and being in, like, a state of nature where you can, like, feel that peace and healing and growth and fighting. And it's just like a culmination of all these things. So, um, yeah, I don't know. So. But it wasn't always like that. I mean, Just one last piece on that is just, you know, you hear this concept of like, think of the person you want to be and be like, well, what would that person be doing? Think of the perfect investor. What kind of habits would he have? You know? And I just think, like, what kind of person would I want to be? I'm like, well, I want to be the person that does cool stuff, you know? And I remember when I was young and I hadn't really done much thinking that. And so whenever I get a chance, I'm like, I just gotta go do cool stuff, even if I'm not feeling it. Like, and that's one thing I would say is I don't always feel like doing it or like, I'm not even in the mood. And it's like, not just like, oh, I don't want to go on a run, but like the other day I had an opportunity to go do a sweat lodge, which is like a Native American, like three, four hour crazy sauna session with like chanting. And I had no idea, honestly, what it was, but I was like. And I had all these other things coming up and I was like, oh, I want to do that instead. But I already kind of said I would do this and. But I didn't know anybody doing it. I had no connections. Like, I didn't know anybody at the event. And I was like, I just didn't want to go. I was like, this is just going to be awkward. I don't want to do it, but I bet it'll be a good experience. And so I ended up going just because I've proven to myself enough time to just do stuff, even if you don't feel like it, especially new experiences. And it was a really, really cool experience. And so a lot of times I'm like, I don't want to do it. I don't have any drive to do it. But I know if I get out of my comfort zone and I push myself, I almost never. I can't think of a time where I'm like, oh, I wish I hadn't done that thing. Even if it's like, oh, I wouldn't do that again. But that was a cool experience. Now I have that in my, you know, my life. So anyway, yeah, yeah, get out of your comfort zone.
- [42:27]
B
Good philosophy. I love that. Yeah, there's something about. Something about nature for sure. That's why I put an outdoor shower in my last house and, and put one in this house as well. But dude, I showered outside probably 90 of the time. I don't I don't know why. Like, I just felt like my mind was. Was so much more clear and open and I had all these different thoughts. And anyhow, I. Dude, I want to do that.
- [42:54]
A
I know in Hawaii that makes more sense than in Utah, but I'm like, I legit. I'm like, I need to do that because I've done that, like, once, and I thought it was the most awesome experience too. Like, sharing outside's a trip. I'm gonna freaking do that.
- [43:09]
B
Dude, it's amazing. I don't know something about it, but same thing with, like, sauna, dude. That's why I just got my sauna all set up at my house, and I have this huge window on the front of it that overlooks the ocean. And dude, for me, I get, like, my best thoughts, like, in the sauna. I don't know, it's. I start my day with it, like, before workout, and it just. I don't know. I can think so clearly. I don't know why or what or. I don't know. It just. I love it. So it's like, hey, how can I incorporate these things into my lifestyle and into my daily routines? Because it ultimately makes me feel better and. And whatnot.
- [43:50]
A
So, yeah.
- [43:53]
B
All right, dude, you wanted for some real estate questions?
- [43:56]
A
Let's do it. Let's talk real estate.
- [43:58]
B
Okay, cool. First one for you. One thing every new investor should know that they don't know they need to know something.
- [44:11]
A
Every new investor should know they don't know they need to know. I. So I've recently just. I would say that you will learn more by taking action than by any other way. But I would add you can take reversible actions, though. And what I mean by that is you. So I just got this deal. I was putting this offer in on this, like, rehab project, which rehab projects are new to me. I've always avoided rehab projects. I'm like, no, no, no. I do turnkey. Like, that's a whole ball game. But lately I'm like, okay, I'm going to get into it. I want to recycle some money. And that's the best way. So anyway, and it was. It was a deal out in Arkansas. And the way they did their. Their real estate purchase contract was just different than what I was used to. Different than Kentucky and Oklahoma and Utah and New York. Like, I've done a lot of different states purchase contracts, but they were different. Like, they didn't want to do. The earnest money was different. They did this, like, other kind of deposit Money. And they wouldn't. Nobody does earnest money there. And it was just like, there's a lot of these little nuances. And the reason I bring that up is just because I was putting in an offer. I didn't even get the offer accepted, but going through of actually getting the agent, getting the deal put in the offer, and I learned like all these different nuances about that market and how they structure their deals that I wouldn't have known by just listening to another podcast or listening to another book. And it's cool because it's actually a partner deal with a student that ended up finding it. So he was like going to get a piece of the pie just for finding it. And then I was having another partner fund the project and I was going to put it all together and it still might work out. We'll see what they say. We're like doing these counters back and forth, but. But actually taking the action, even reversible action. You'll learn more of these little nuances that are really hard to teach because they're so specific to that situation. So I always encourage people get, get a deal under contract, put in offers. Right now, my whole team, my whole pod that I work with, we're doing a March Madness style competition where there's points for different things they do. And I was like, you need to get deals under. I should send it to you. It's like, you have to get deals under contract. I was like, you can back out of the contract. I don't care. You don't have to buy it, but you need to get something under contract because you'll learn a ton by doing that. And it's just kind of fun.
- [46:38]
B
Yeah. Yeah. That's powerful. Especially reversible action like that.
- [46:42]
A
Yeah. Because then it's easy. It's like putting. Put in an loi. Yeah, Just do that even. You know what I mean? I think that I've have to do five of those this month. They have to put in five, Lois. And then they have to get one deal under contract. I'm like, I don't care if you buy it or not, but you have to get under contract. Like, you will learn more by doing than what I can just keep telling you because there's so many little nuances and it changes.
- [47:06]
B
Yeah.
- [47:06]
A
You know, like they're changing the whole, like the whole deal with all the agents now and commissions are all going to change. It's like people talk about that and go, go put some offers in and you'll see how it actually affects you. Instead of listening everybody talk on Instagram about what's it going to be? Like, what's going to happen? Like, go put a couple offers in. You'll see. Like, it's that simple, you know?
- [47:28]
B
Yeah, yeah. So, so good, dude. Yeah. Like, speaking of James Clear and atomic habits, it. It almost reminds that's one of the things in there that he talks about is, okay, you don't have a habit of going, like, and working out at the gym. Like, here's what I want you to do. Like, first I just want you to wake up and put your gym clothes on. Don't go to the gym. Just wake up and put your gym clothes on. You know, like, next I want you to like, put your gym clothes on, then drive to the gym. Go, go home. Just drive to the parking lot and then go home. Next I want you to check in and then turn around and like leave. Right? And it's just like, those are reversible actions, right? You're not committing to going to the gym. Like, you're not taking up all this time. Like, all you're doing is putting your shoes on. All you're doing is driving to the gym. All you're doing. And eventually, guess what, it's like, well, I've already come this far, I might as well just work out. And it comes easier to do the deal than not to do the deal. So I think there's so much power in that. How would that change for an experienced investor? What any advice that you would give them on what they need to know that they don't know they need to know.
- [48:30]
A
So for an experienced one, it kind of goes back to what we were talking about earlier. I would say you need to have a multi step goal. Like, you need to know there's multiple levels to this. Okay, stage one, I want to hit, you know, 10,000 cash flow so I can live on. Then stage two, I want to start building assets that are going to appreciate really being this. Stage three, I want to build like, you know, kind of passion projects that I can share with different people, like, whatever. In stage four, then I want to hit this new cash flow goal of 25,000amonth and just like have a multi stage goal so you can see this big picture bird's eye view and then be very honest with yourself about which step you're on. And this goes like we were talking about before. Like, but where are you at right now? Are you an experienced part of life or service part of life or what's the priority right now?
- [49:22]
B
And.
- [49:23]
A
And then just laser Focus, put on the blinders. Like if you're on step two, that is what matters most. And just go super hard because so many experienced investors, especially if they start to know stuff like, oh, now I could do this, I could do this, I could do this, I could do this. It's like they forget what their priority is and be like, but that's important too. It's like, yeah, that's important for step three, but you're on step two. So like just focus on step two. And then once you hit the barrier, you move into step three. Now you can pivot your focus. So have a multi step goal and be honest with yourself which step you're on. And then put the blinders and just sprint where you're at.
- [50:04]
B
Yeah, that's good stuff. Yeah. And I think understanding when you do shift to that, that multi step or that next level, to not be stuck in the previous level because things change, your time is worth more. It's, you know, it's just, it's different. So I love that I still struggle to this day with like, good deals, which, that's not a bad thing, right? Especially good real estate deals. But like, like, I'll buy something used for 75 off as opposed to like, and it'll cause me more problems as opposed to like booking flights and stuff too. Is just like, my assistant books my flights now. But it was like the hardest thing to get over. Like, oh, I'm just, yeah, it's an hour longer. Like, okay, it's, it's a, a middle seat, but you save 500 bucks. Like, all right, let's do it. And then like, you end up regretting it, right? Because like, oh, I didn't have the, the workspace. I didn't have the this. And it actually cost me more money than it anyhow. So I think that that's, that's a good piece of it too is recognizing that, okay, you're in a different phase now. And the things in the thought process and the belief system of your old level doesn't serve you anymore. Like, you need to adopt this new belief system and ways of acting, okay, dude, next one. What do you think is holding most people back from either starting or scaling? Maybe it's a lot of the same stuff, but anything different that, that comes to mind. What's holding most people back?
- [51:38]
A
I mean, there's so many specific situations. Like I said, there's a million ways to equal 100. Right. But, but I would say in general mindset, but not just like, oh, do you have confidence in Yourself mindset. But like, but literally understanding that there are so many possible solutions. You know, like we said, there's so many ways to equal 100. Like people really, they talk to one lender and the lender says, oh no, you don't qualify. Dude, this is wild. Get this. I went and was, you know, I write off way too much in taxes, so it's really hard to get loans right now. I'm like trying to like backstep and fix some things this year, but I met with this one lender and they pre qualified me for like 200,000 or something. I'm like, okay, great, thanks. I go meet with another lender a few months later. I haven't read on my taxes. Nothing's different. You guys qualify for, for 660. I'm just like, what the. And the reason, the big reason is the next. The other lender understood real estate investing and how to roll back a lot of the expenses. And they weren't counting the debt against me the same way the first one was. And I told them, I knew that was what was going on. I told him, like, no, no, like you can roll back these expenses, these, these debts or services shouldn't count against me. Like, no, no, we know, we know, but they did not do it right. But this other one, that's all they work with are investors and they understood it perfectly. And I was able to get three times the qualification of debt that I could at the first lender. And so my point with that example is just like when you, when what hold people back is they think there's not as many options. And as possibilities they go, oh, I can't get a loan. And so they stop. They go, and alone's the only way to get a deal. So I'm done. You know what I mean? It's like, whoa, whoa, whoa, like, so who cares if you can't get a loan from this lender, go to a different lender, get a different type of loan. Like, there's a thousand different ways to do it, but people have such limited concept of the possibilities out there that they just shut down and they don't. And then they don't have the confidence and because you know, they don't know that there's options. But once you've done enough and you've seen that there's a thousand options you've never thought of, then you're like, oh, I'll figure something out and then you can keep going and take a lot more action.
- [53:56]
B
Yeah, so good, dude. Yeah, I, this is a Text I got this morning from somebody with a property under contract, and they said, appraisal came back $150,000 under. And they're like, which is wild to me because we got it at an $80,000 discount when we bought the property. And so, like, what should we do? Right. Is kind of the question, more or less. And I think these people are their students, and they're experienced and they're successful, and it's like they know how to get through things and not take no for an answer. But I think somebody else asking that question, questioner being in that same scenario, like, the first kind of response is like, oh, dude, I don't have an extra $150,000 of cash that, like, I have to back out of the deal. Right? And so I like my response to. To them, and I'm just shooting from the hip, but, like, how many ways can we come up with right off the bat on how to. How to solve that problem? Like, my first response was, okay, first thing, tell the seller what happened. Hey, this is what the property came back at. It's $150,000 less than what we have agreed on as a price. I don't have that in cash. Are you guys willing to cover that? If they say no, that doesn't mean the deal is done. That's the easiest way because you might be overthinking.
- [55:21]
A
What do you mean by cover that?
- [55:23]
B
Cover that as in lower the sales price, sell it for $150,000 less. Because apparently. What?
- [55:30]
A
Praising for what?
- [55:32]
B
Yeah, which happens all the time. All the time, Right. Especially if it's been on the market for a while. And they're like, ah, we've been under contract for two months now. All the docs are finalized with the loan. They're approved. We're supposed to close in two weeks. Whatever, whatever. So a lot of times that's going through the seller's mind. I actually think that's maybe, like, a good strategy, but also could rub people the wrong way, is like, just getting a property under contract and then, like, figuring it out. You know, I know that's a lot of people's strategy of, like, getting an inspection done. And then you're like, hey, dude, these are all the things that are wrong with this. Like, I'll still buy it, but I'm not paying the same price for it. And I think there's something psychologically about getting so far along in the process to where the seller is like, all right, we've already gone this far. I didn't want to Come this far to just to come this far. Let's just close the deal. I'll take. Yeah, that doesn't always work, but anyhow. Not saying I encourage that or anything like that, but there's definitely something that works with that principle. If you do it the right way and do it ethically. But a lot of times I just say, yes, that makes sense. It's worth this much. It got appraised. Cool. Easy, right? Okay. What happens if they say no? Well, we'd still love to do the deal. We still love the house. Are you willing to sell or finance that 150,000 bucks? That's what I was thinking.
- [56:51]
A
I was like, cool, let's do a separate promissory note on the side. You sell or finance the difference because the bank's not going to and I'm not going to come out of pocket. So if you really want that price, we can do it. But you got to give me a good term on a seller. Finance 100%.
- [57:06]
B
That was what I actually. What if they say no to that? Okay, what if I meet you halfway? You know, you cover 75k of that. Let's lower the. Lower the sales price. I'll cover the other 75k. And maybe you get even a little bit tricky on how you do that, and you say, hey, let's actually sell it for, you know, this much. But then you'll credit me back for rehab. And, you know, there's only so much they can credit you back, but maybe they cover closing costs. They do all these things, and that's a way of coming up with less cash for you. Okay, next option. Well, maybe they're willing to sell or finance the whole thing. If you didn't take that into consideration, you actually pay more for the property. Right. Hard money loan. Right. Maybe that's a route that you go down where you can actually put 10% down on the entire purchase price plus the rehab, because they're going to go and rehab this. There's a handful of units. I think there's four units total on this property. It's zoned residential commercial. Is the zoning on it. And so you're going to rehab it anyways. Maybe you go get a hard money loan, you pay a little bit more in interest and, you know, upfront fees. And then you, you know, do the burst strategy. You fix it up, you're out the same amount of cash, and now you're actually able to pull more money out of this thing long term, and you're in a better situation anyways. Right. So Maybe you explore that. The other thing that you explore, which is probably one of the first things that you do, aside from asking them if they'll just take a lower price, is you go back to your lender and you're like, hey, this isn't going to, this isn't going to work. Like, why did this appraise for this amount? We're confident it looks for this. Here's some comps that show this in the area and maybe they can have, yeah, maybe they can have a different appraiser go back or maybe they can adjust it. Like that happens all the time where appraisers can just, oh, I didn't realize that. Let me adjust this appraisal based on this new information. Right. So that could easily happen. The, the other piece, this is the last thing I just say on it. And this was in my, you know, just like two minute voice memo back saying all these different random things just to get like your mind going on. It was maybe when he appraised it, right? There's a difference in a commercial appraisal versus like a residential appraisal. A lot of times residential, they're, they're appraising it based on the comps as opposed to what homes are selling for. They're not taking into account what it's renting for. So the fact that this is zone residential, commercial, and there's four units, like maybe you can look at it and some of those units might not be, you know, like full on legal units or I don't want to say legal, but maybe ones, maybe it's a triplex, but one of them's classified as, you know, a studio or whatever. Right. I don't know if they have separate tax cities and all that, but maybe you get them to appraise it based on an investment property in a commercial property. So now how do they value the property? They don't look at the comps, they look at the rent roll. Right? They look at, hey, what can this rent for? And that's why you see so many people that, you know, buy these commercial properties or, you know, big apartment complexes and then they add a few little things here to boost the rent. And once they stabilize the rent, you raise rent, you know, $100 in 50 units. What does that mean? Your rent just went up per month. What is that, five grand? Yeah. Right. So like little things like that where now the property is worth X amount more, which could be significant, raising $100 a unit or $200 a unit. You know, it can make the property Worth like millions more, depending on how large it is. So just understanding that and how it was appraised and so just different. Like just right there. I don't even know how many I stopped counting, but that's like seven or eight different strategies as opposed to being like, oh, gotta cancel the deal.
- [60:55]
A
Oh, well, yeah, it's like. And that's the thing. There's so many opportunities, there's so many possibilities. Understanding how many possibles, I thought, no, I was like, if the deal's good enough, bring in a partner for the down payment, give him some of the pie. And if, I mean, if the deal is actually sick and it's worth that much, which you put that offer in it. That much. So I assume you think it's worth that much. You know, there's another option. We could probably do 20 more if.
- [61:19]
B
We kept thinking about it, you know.
- [61:20]
A
And so it's like, yes, I think that's the biggest thing that holds people back is not understanding the amount of legitimate possibilities to get something to work.
- [61:30]
B
Yeah. Yep. Yeah, 100%, dude. Maybe it's. Maybe you just get a new lender and then it's problem solved. Right? You go through the same thing. Yeah, there's. There's so many. But I think that's like a principle for real estate. That's a principle for life. Like, you just, you don't think no for an answer. Like, when you want something bad enough, you. You figure out a way to make it happen and go get it done. And it doesn't matter kind of what stands in your way. Right. It's like, my goals are non negotiable. It's like Jesse Itzler, like, you don't have a seat at the table. You go make a seat at the table. That's. That's the separator. That's the difference. And at the end of the day, you either want it bad enough or you don't. You know, what's willing to get in the way and not get in the way. And speaking of, of Casey, one of the things that he shared, I don't, I don't think it was his definition, but he shared the definition of entrepreneurship. Do you remember that?
- [62:21]
A
I don't remember what it was, but I remember him saying it. I was like, oh, I never thought of it quite like that.
- [62:25]
B
Yeah, I was looking through my notes the other day on it without going back and reading was essentially the entrepreneurship is the gap between what you want and the resources currently available to you. I think you say the same thing for like successful real estate investors are defined by making up the gap between what they want and the resources currently available to them. You know, so many times we just focus on these are the resources currently available to me. So I have to operate from this bubble and from this fear. If there's something outside of that, I cannot do it because it doesn't work. And even if I want this thing and this is what I really want, but it's outside my current resources, I can't go and do that. Therefore, I'm not even going to think that big. I'm not even going to dream that big. I'm not even going to set goals that big, because it's outside of this sphere, so. Sphere. So I think that's what it comes down to is like, okay, how creative are you going to get? How much tenacity are you going to have to go and chase what's outside of your current skill set or resources or mindset sometimes?
- [63:43]
A
Love it, man. Well, this is exciting. I know you have to get going or I'd keep chatting for another hour or two about this, but I appreciate, man. Any last thoughts you want to share with everybody before we take off?
- [63:59]
B
No, dude, I think, like, we've covered some good stuff here. Just in general, it's just good to jam. I just, like, shout out to you guys that are listening to this podcast consistently. It's definitely growing and it. It shows, like, the ones that are just willing to plug into it, and not even just this podcast, but just, I think so many times you can learn by osmosis. And that might sound like a bad thing because you're just passively learning, but I also think that that's a really good strategy of just being consistent, plugging in the stuff that's coming in your mind consistently day in, day out. You're learning about these real deals that people are doing. You're learning about these, you know, the stories that these guests are having, the processes that they're going through, that stuff adds up. And as always, like, if you want help, if you want some extra accountability, if you want some extra help, taking action. That's what we're about at real estate investing school. We're sharing all that stuff, but we're doing it in, like, an organized way, and then we're just holding you accountable. And I think that's the next level. You're talking about these different levels. Like, if you're at a spot where you're getting a lot of information and you're not taking as much action as you would like, to be, guess what? It might be time to get to this next level, which involves you hiring somebody that's going to actually keep you accountable and hold you there. So you can always book a call with us, and we'll explore what that looks like.
- [65:20]
A
Yeah, man. And it's been fun, you know, because, you know, the school's been around long enough. You know, first, you know, I had all these new students. We're just teaching them the basics, and now I've got students who've been here a while, and now it's just fun because we're. A lot of times we're just doing deals together. Like, they're bringing me deals, and we're doing partner deals, and we're bringing in outside guys that, you know, and just, like, putting stuff together. And even if it doesn't always come out, you know, as a finished product, we learn again. We learn so much by doing it that way. And that's been a super fun thing lately with me, with some of the students is just. Just putting deals under contract together and pushing things through together and piecing it together with three or four different people if we need to. But it's just been, like, super fun, you know, after we kind of taught the basics. So it's been fun.
- [66:06]
B
Yeah, it's blowing my mind. How many. Because everyone's at different levels, right? Like, someone's strength might be they have a ton of money, they don't have as much time. Like, we have a lot of students like that. Somebody else's might be the exact opposite. They have time, but they don't have as much money. And so it's. It's. There's been a lot of just different partnering and different things going, like, around like that, which I. I love. It's so cool. You're just kind of using your strength to maximize somebody else's weakness and. And vice versa. And even, like, the win you shared the other day on our coaches call of one of your students, I thought was so rad because it's like you just went through their journey of how, yeah, they did this one deal and then they did this deal, and then it compounded into this, and then they took money out and rolled it into this, and now they're buying this apartment complex. And I was like, dude, that's cool. That's the fun, exciting stuff. And that's what happens over the long term. I feel like.
- [67:01]
A
Yeah, yeah, it's cool being seeing the culmination of effects, you know, year after year now, because that's where the real impact comes in.
- [67:11]
B
So cool, dude. Well, hey, I appreciate you jamming, man. This has been fun for me. I've learned a lot from you. I look up to you and love having you as the host of this show. You're so, so good, dude.
- [67:23]
A
Dude, it's a blast. I need to get out there to Maui sooner than later and come see the new place.
- [67:29]
B
Come on out.
- [67:30]
A
All right. Well, sweet, man. Well, without further ado, this is Joe Jensen signing off for the Real Estate Investment School podcast, reminding you to guard your attention and use it wisely.