Podcast Episode Summary

Title: Teen Investor Closes $65K Deal – No Experience Needed!
Release Date: January 14, 2025
Podcast: Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business
Host: Brent Daniels
Guest: Conor Rueca

Introduction

In this compelling episode of The Rich Dad Radio Show, host Brent Daniels welcomes Conor Rueca, a young and dynamic real estate entrepreneur who embarked on his real estate journey at the age of 19. Conor shares his inspiring story of closing a $65,000 deal with no prior experience, offering invaluable insights into the world of real estate investing, personal development, and entrepreneurial spirit.

Guest Background and Journey

Brent Daniels opens the conversation by highlighting Conor's impressive performance over the past year, where Conor and his team successfully closed 24 real estate deals in their second year of operation (01:00). He inquires about the nature of these deals, to which Conor explains that 20 were wholesale deals, and the remaining were various forms of property transactions, including lease options and flippings (01:24).

Conor Rueca provides a candid recount of his beginnings, detailing how he transitioned from aspiring to make money online to immersing himself in real estate after a pivotal experience during a trip to the Philippines. Faced with limited resources and a desire to start a business, Conor decided to invest in real estate wholesaling after encountering Wholesaling Inc online and receiving guidance from Ryan Thornton (07:06 - 09:43).

Business Operations and Strategies

Conor elaborates on the operational strategies of his company, Capable House Buyers, a venture he co-founded with his four brothers. Living in California, the team focuses their deals in Georgia and Tennessee, operating virtually to scale their business efficiently (02:00 - 03:18). They utilize tools like BatchLeads for distressed property leads, targeting retired landlords and absentee owners to maximize their investment returns (04:00 - 05:22).

The team employs a structured approach to cold calling, initially handled solely by Conor, who admits to having no background in making sales calls (05:29 - 06:25). They relied heavily on mentorship, particularly from Chad, one of Brent’s acquisition managers, who provided live demonstrations of effective cold calling techniques (06:15).

Overcoming Challenges and Personal Growth

A significant portion of the discussion centers around the personal development and resilience required in real estate investing. Conor shares a pivotal piece of advice from his mentor, Andrew Schlag: "Don't let your portfolio outgrow your personal development" (21:27). This guidance helped Conor balance his business ambitions with personal relationships and health, leading to overall success and stronger team dynamics.

Conor also addresses his own journey of overcoming introversion to excel in sales, emphasizing that ambition and continuous learning are key to breaking through personal barriers (33:32 - 34:48). He recounts his first major deal—a $65,000 assignment fee from a property purchased below market value—and how mentorship from Brent and Ryan was crucial in navigating this complex transaction (38:51 - 46:39).

Deal Breakdown: The First $65K Assignment

Conor takes the listeners through the step-by-step process of his first major deal, highlighting the importance of persistence and adaptability:

1. Lead Generation: Utilized a driving for dollars list to identify a vacant property (39:05).
2. Initial Contact: Made the first cold call without fully understanding the wholesaling process, resulting in a challenging conversation (39:12 - 40:35).
3. Mentorship Intervention: When Conor struggled, Chad stepped in to help book the appointment and guide him through the in-person negotiation (43:32).
4. Assignment and Closure: Successfully assigned the contract for a $65,000 fee after facilitating the probate process and assisting the seller with legalities (43:56 - 46:38).

This deal not only marked a significant financial milestone for Conor but also solidified his confidence and commitment to real estate investing.

Key Insights and Advice

Throughout the episode, Brent Daniels and Conor Rueca share several key insights for aspiring real estate investors:

• Take Immediate Action: Conor emphasizes the importance of starting today, likening it to the proverb: "The best time to plant a tree was yesterday. The next best time is today. The worst time is tomorrow." (50:20).

• Embrace Personal Development: Balancing business growth with personal development ensures sustainable success and prevents burnout (21:27 - 25:13).

• Leverage Mentorship: Seeking guidance from experienced mentors can accelerate learning and help navigate complex transactions (06:15 - 09:43).

• Build a Strong Team: Working closely with family members or trusted partners fosters a supportive environment and enhances business performance (11:03 - 13:45).

• Adapt and Innovate: Transitioning to inbound marketing and utilizing modern tools like PPC (pay-per-click) campaigns can significantly improve lead generation and deal flow (36:02 - 37:16).

Personal Development and Overcoming Introversion

Conor delves into his personal growth journey, discussing how he overcame his introverted nature to thrive in the highly social realm of real estate sales (31:27 - 33:50). He advocates for acquiring new skills and pushing beyond comfort zones to break through personal barriers and achieve success. Conor underscores that entrepreneurial endeavors require a proactive mindset, where imperfect action often trumps hesitation (33:32 - 35:48).

Future Plans and Innovations

Looking ahead, Conor reveals plans to expand their business model by 40% through joint ventures in the coming year. Additionally, he introduces Closer Control, a CRM software developed in-house to streamline their operations and enhance efficiency. This venture into software development demonstrates Conor's versatility and ambition to innovate within the real estate landscape (48:34 - 49:16).

Conclusion and Final Advice

As the episode wraps up, Brent and Conor reflect on the journey and the lessons learned. Conor's final advice to newcomers in the real estate business is to take immediate action, emphasizing that delaying only postpones success (50:20). The episode serves as an inspiring testament to the power of determination, mentorship, and continuous personal and professional development in achieving financial freedom and entrepreneurial success.

Notable Quotes

• Brent Daniels: "When it comes to money, there's only three things you can do with it: spend it, save it, or risk it." (09:19)

• Conor Rueca: "Don't let your portfolio outgrow your personal development." (21:35)

• Conor Rueca: "If you are ambitious, if you want what you see and you can see it and you know it's touchable, you just have to go get it." (33:50)

• Conor Rueca: "The best time to plant that tree was yesterday. The next best time is today. The worst time is tomorrow." (50:20)

Resources and Next Steps

For listeners inspired by Conor's journey and interested in taking their real estate ventures to the next level, Brent Daniels encourages visiting richdadrei.com to join the Rich Dad community. Additionally, Conor's Closer Control CRM can be explored at closercontrol.com, and listeners are invited to connect with Conor through his Instagram.

Thank you for tuning into this episode of The Rich Dad Radio Show. Don't forget to like and subscribe wherever you get your podcasts!