The Fastest Way to Get Rich in Real Estate!

Summary

Rich Dad Radio Show: "The Fastest Way to Get Rich in Real Estate!"

Release Date: January 24, 2025

In this compelling episode of The Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business, hosted by Brent Daniels from The Rich Dad Media Network, listeners are treated to an inspiring conversation with Ty Downey, a burgeoning real estate investor from Wichita, Kansas. The episode delves deep into Ty's journey from having no initial capital to successfully closing multiple real estate deals within a short span, offering actionable insights for aspiring investors.

---

1. Introduction to Ty Downey's Real Estate Journey

[01:01]
Brent Daniels opens the episode by introducing Ty Downey, highlighting Ty’s unique approach to real estate investing. Unlike many polished podcast guests, Ty brings authenticity by being relatively new to the interviewing scene, embodying the spirit of taking "massive imperfect action."

Brent Daniels:
"I want to bring on the people that are just getting started. I want to bring on the people that have closed a deal and they've never been interviewed in their life because you know it's authentic."
[01:01]

2. Balancing a Full-Time Job with Real Estate Aspirations

Ty shares his rigorous schedule, balancing a demanding full-time job with his real estate ambitions. Working from 5 am to 2:30 pm on weekdays and dedicating the remainder of his time to real estate, Ty exemplifies dedication and relentless work ethic.

Brent Daniels:
"You Have a full time job. You work full time. You're putting in, I assume an 8 to 5, is that right?"
[02:21]

Ty Downey:
"I am full, all gas and no break on the real estate and the wholesaling till I go to bed every day, seven days a week. I spent 17 hours."
[02:58]

3. The Spark: Why Real Estate?

Ty recounts his early inspiration for real estate, influenced by key figures in his life, notably his godfather who owned multiple rental properties. This exposure ignited his desire to build long-term wealth through real estate.

Ty Downey:
"Growing up, I always wanted to do real estate in some form. A lot of the key people in my life had some kind of action going with the real estate."
[04:30]

4. Building a Network and Securing Private Money

The turning point in Ty’s journey was his proactive engagement in local real estate groups and his strategic use of online platforms to find private money. By posting in the ICT Real Estate Investors Facebook group, Ty connected with Amanda Jolly, a realtor, who introduced him to a network of contractors, lenders, and investors, rapidly expanding his connections from a handful to over 150 contacts within weeks.

Brent Daniels:
"Ty has this all written out. He prepared for this with all of his timelines and his story."
[14:29]

Ty Downey:
"Within two or three weeks, I had 150 people on my spreadsheet of contractors, hard money, realtors, flippers, investors, all of it."
[03:24]

5. Leveraging Tools and Mentorship

Ty discusses the critical tools and mentorship that accelerated his progress. Utilizing Mojo Dialer and DealMachine, along with mentorship from Brent Daniels' team, enabled Ty to streamline his lead generation and deal negotiation processes.

Ty Downey:
"Mojo dialer was a game changer... I use Follow Up Boss."
[18:46]

Brent Daniels:
"There is more money than there are deals... If you can find discounted properties on a consistent basis, you win."
[23:41]

6. Early Successes: Closing Deals Quickly

Remarkably, Ty secured his first flip under contract within 29 days of connecting with Amanda Jolly. Despite setbacks, such as a property tied up in probate, Ty’s persistence paid off as he closed his second deal just 64 days after joining the program.

Ty Downey:
"I had my first flip under contract in 29 days... my second deal closed 64 days after meeting you."
[14:05]

7. Deal Breakdown and Financial Insights

Ty provides a detailed breakdown of his first two deals, illustrating his negotiation skills and strategic partnerships that facilitated profitable outcomes. He highlights the importance of transparency with sellers and leveraging a robust buyers' list to ensure swift disposals.

Brent Daniels:
"There is a beautiful middle ground... you need to take the reps to be able to discover the potential of properties."
[17:45]

Ty Downey:
"I got the first deal locked up for $20,000... another deal at $15,000."
[28:26]

8. Overcoming Financial Barriers

Addressing common fears, Ty emphasizes that lack of initial capital is not a barrier. Through strategic borrowing and relationship-building with private money lenders, he demonstrates that financial constraints can be navigated effectively.

Ty Downey:
"I started with zero dollars and a dream and a work ethic."
[23:56]

Brent Daniels:
"Money has never been the obstacle. It's only made up. The first step is have a quality conversation with a property owner and make an offer."
[24:28]

9. Scaling the Business and Future Goals

Looking ahead, Ty aims to scale his operations by hiring virtual assistants and refining his systems to handle more deals efficiently. His goal is to transition to real estate full-time by July 2025, leveraging the momentum built through his initial successes.

Ty Downey:
"My hard goal is December 2025. Soft goal is July 2025."
[35:27]

Brent Daniels:
"Once your lead generation is down, you can build the momentum and do amazing things... You have enough income to then go buy assets."
[35:40]

10. Final Advice and Encouragement

Ty offers heartfelt advice to newcomers, stressing the importance of networking, surrounding oneself with successful individuals, and adopting a "give-first" mentality. His encouragement revolves around taking action, building genuine relationships, and maintaining a resilient mindset.

Ty Downey:
"Whatever you think is stopping you, go ask three or four people in the business... Surround yourself with people that are where you want to be."
[37:54]

Brent Daniels:
"Once you cross that bridge and receive your first check, you realize it's real... it's progress, not perfection."
[34:05]

---

Key Takeaways:

1. Persistence Pays Off: Ty's journey underscores the importance of relentless effort and consistency in real estate investing.
2. Networking is Crucial: Building a robust network of professionals can open doors to opportunities and resources.
3. Leverage Technology: Utilizing tools like Mojo Dialer and DealMachine can enhance efficiency and lead generation.
4. Mentorship Matters: Guidance from experienced mentors accelerates learning and mitigates common pitfalls.
5. Action Over Perfection: Embracing imperfect action leads to tangible progress and success.
6. Financial Creativity: Overcoming initial capital barriers through strategic borrowing and partnerships is attainable.
7. Scaling Thoughtfully: As success is achieved, scaling operations with the right systems and team is essential for sustainable growth.

Notable Quotes:

• Brent Daniels:

  • "Progress, not perfection."
    [26:04]

• Ty Downey:

  • "I started with zero dollars and a dream and a work ethic."
    [23:56]

• Brent Daniels:

  • "Money has never been the obstacle. It's only made up."
    [24:28]

---

Conclusion

This episode serves as a beacon for aspiring real estate investors, illustrating that with determination, strategic networking, and the right tools, significant financial milestones are achievable even for those starting with minimal resources. Ty Downey's story is a testament to the transformative power of taking bold, imperfect actions and the limitless potential that lies within the real estate market.

For more insights and to join a community of like-minded investors, visit richdadpro.com. Don’t miss out on future episodes where experts like Ty share their real-life experiences and strategies for financial freedom through real estate.

Transcript

[Ryan Seacrest]

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[Brent Daniels]

This is the Rich Dad Radio Show. The good news and bad news about flipping real estate. Here's your host, Brent Daniels. Welcome back to Rich Dad Radio where we're talking about the good news and the bad news about flipping real estate. I'm your Host, Brent Daniels, Mr. TTP, Mr. Talk to People. And my job on this show is to bring you real life. You know, sometimes I listen to podcasts and people are so polished, they're so put together. They've been interviewed dozens, if not hundreds of times. I want to bring on the people that are just getting started. I want to bring on the people that have closed a deal and they've never been interviewed in their life because you know it's authentic. And when you know it's authentic, it allows you the permission to give yourself that you can do this. You can go out there, take massive imperfect action and start chipping away at your real estate goals, your real estate dreams, whatever it is. And this podcast interview is absolutely incredible. It's a real estate investor out of Wichita, Kansas, and I'm so excited to share this with you. Check it out. I'd like to welcome to the show from Witchita, Kansas, Ty Downey. Ty, how are you?

[Ty Downey]

I'm doing great, brother. How you doing?

[Brent Daniels]

I am excited. I'm excited because you right now are spending a hundred hours a week working and I want to clarify this. You Have a full time job.

[Ty Downey]

That's right.

[Brent Daniels]

You work full time. You're putting in, I assume an 8 to 5, is that right?

[Ty Downey]

I work from 5am till about 2:30pm each Monday through Friday and some weekends when needed.

[Brent Daniels]

And that's that, that's just, that's just something that you've done for a while. You've been in that line of work for a while.

[Ty Downey]

Yes, sir, that's right.

[Brent Daniels]

And then what do you do when you get off work?

[Ty Downey]

I am full, all gas and no break on the real real estate and the wholesaling like till I go to bed every day, seven days a week. I spent 17 hours. I spent 17 hours in my home.

[Brent Daniels]

Office yesterday, let's call it 3:00 on in the evenings and then weekends. Is that right?

[Ty Downey]

Yeah, that's 100. That's. Yes.

[Brent Daniels]

Do you do, do you have a significant other? Do you have kids? Is it just you, you get to do whatever you want all the time. What does that look like?

[Ty Downey]

I am, I am married and I, and I do have some kids. My. They live with their mother, my two younger ones, mostly the house is me and my wife most of the time. And she has, she's really been accommodating. She knows where I want to go with this and that. I'm serious. And she, she's been a blessing just. And I just can't thank her enough, you know. But while I'm spending all my time doing this and just wearing her ears out talking about it, she's taking care of all the other stuff. Awesome.

[Brent Daniels]

What's her name?

[Ty Downey]

Diana.

[Brent Daniels]

Shot shout out to Diana.

[Ty Downey]

Yes. Amazing woman.

[Brent Daniels]

So why, why get into real estate? I mean you've got, you've got a job, you've got a career that's established. I assume that you're making pretty decent income.

[Ty Downey]

Yeah.

[Brent Daniels]

Why, why, why get into real estate? Or was it not enough to make ends meet? Tell me about that.

[Ty Downey]

Okay, so just always as when I was young growing up, I always wanted to do real estate in some form. Right. And, and I didn't even know really anything about it. I just knew that a lot of the key people in my life had some, some kind of action going with the real estate, you know, in one form or another. Even if it was just like my godfather growing up, you know, he had like three or four rental houses. But even, you know, as a kid growing up, you see that. And he lived on the. In a nice neighborhood and he had a nice career and he had some rentals and just everybody was Everybody had real estate that in some way. So I knew early in, in my life that I, I wanted to have some kind of piece of real estate. And then you kind of. Then I kind of grow up into an adulthood and I'm, you know, working a bunch of jobs and kind of figuring who. Who I am and all that. And I would say maybe for the last two years I really was just immersed in all the podcasts, all the YouTube, really gathering information, getting a feel for, like, if I can even do it, which anybody can, right? If you're willing. So I spent pro. You know, I probably spent a couple years really diving into YouTube. And then where it kind of starts getting serious is May 2024. I started my company. I registered an LLC with the state and with the federal government. And I, like, I knew that was like step one and, you know, and I was talking to some friends and different stuff. So step one llc. And then a little bit of time goes by that was in May. We get to the end of the summer, and August 26, 2024, there's a Facebook group here in Wichita, ICT Real Estate Investors put on by Jason Lavender. He's a local investor and, and he does training and he does master classes and stuff like that. So he has a free group. So I'd been a member of this free group for some time and I see the stuff go by my feed, but I didn't really feel qualified to like, interact with these people. It seemed like they were pros and they were offering deals and buying deals and, you know, doing all the stuff. Well, August 24, August 26, 2024, I put a post on there, looking for private money. Now, I didn't even have a deal. And I was very specific. I said, looking for $30,000 private money. And I got a pretty good response from realtors, from investors, from some hard money lenders. And one, one person specifically was Amanda Jolly. She owns. She's a realtor and she owns Lux Living ICT here. And she reached out to me, private message, and she said, ty, what do you need help with? I'm available. Whatever you need, I'll help you do it. She goes, I flip houses too, and whatever. So within a day or two, we were meeting at a coffee shop and, you know, just blindly. And I'm like, hey, my name's Ty. I want to do real estate. I have zero dollars and a dream. She said, that's not a problem at all. I can introduce you to all the right people. And. And she did. Right? And so she would. She Would introduce me to four or five people and. And then they would introduce me to four or five people. And to the point I started making a spreadsheet to keep track of all the people that I'm meeting, right? Because my phone is just completely packed full of people. Now within, within probably within two or three weeks, I had 150 people on my spreadsheet of contractors, hard money, realtors, flippers, investors, all of it, right? And it's just so. So my network just exploded like this. And, and I was going to lunch, I was leaving work and going to lunch two, three times a week with complete strangers. I would, I would meet somebody, say, like on Facebook or somewhere, and I'll be like, hey, my name's Ty. So and so mentioned your name. I want, you know, they said, maybe you'd be a good person to learn from. Will you have lunch with me? And I'd go buy them lunch and, and you know, there everybody was, everybody in the Wichita community has been so generous. So like I. I am so appreciative to what I've experienced in the last six months. It's. It's just been unreal. I. I had a goal and I had a direction, and every single person I met helped me get to the next step. So it's really been amazing. So I, I started. I started meeting a bunch of people. So then I was like, okay, now my, my goal at this time is to flip houses, right? I'm thinking, I'm gonna flip houses, I'm gonna learn how to do this and I'm gonna make some money and figure out from there. So I'm like, okay, so I met a hard money lender, Brady Cyphers, ICT lending right here in town. And he met again, he met me at one of the Starbucks. And I introduced myself and my wife went with me, Diana. So we met with Brady. And I don't even know how hard money, private money. I don't know the terms. I don't know nothing. He was very nice to explain things to me, how they work, the loan to value. And. And I went home and I submitted a PFS personal financial statement via email to him. And he approved me the same day. He said, I'll lend to you, no problem. And so I was like, okay, so now I got an open checkbook. Now it's time to find a deal. And so from. From the date that I met with Amanda, it was 29 days. I had my first flip under contract. Now that. And I was calling I Brady the heart, the lender. He Gave me phone numbers for multiple wholesalers and other, other avenues. You know, So I took that list of like five or six wholesalers and I just started blowing them up, introducing myself. Anytime there was a local like, event, a meetup, I was there, right? And I'm, I'm shaking everyone's hand, I'm asking them to lunch. I'm doing anything I can. I'm just throwing myself into the community. And so with that being said, I contacted one of the wholesalers that was recently met. And so like I said, 29 days for meeting Amanda. I had the first flip under contract. Okay, cool. I was like, well, that wasn't, that wasn't so bad. You know, I found one. Let's, let's move forward on it. So I start, so I start getting contractor bits now, mind you, I'm, I'm blowing up Amanda and Brady. I'm like, who do I use for a contractor? Who, who do you use for roofs? Who do you use for concrete? How do you do this? How do you do that? And I'm just bugging the heck out of these guys and they're just being very, very helpful in helping me. Thank you guys. If you ever see this video. Thank you. So now I will say this. I still have that property under contract because it was tied up in probate. So, so that, that never executed, but it will. So 29 days, got the contract. Now I spend the next seven weeks looking for a second deal, right? Because I'm like, okay, this one's stagnant. Time to go on to the next one. And I'm just, I'm walking properties, I'm analyzing deals, I'm running numbers. I'm just, Amanda's just running numbers comps for me and I'm just bugging the heck out of her. Seven weeks. I go through that and I realize I'm like, the solution is to create a pipeline, right? Instead of me depending on a wholesaler to bring me or, or have a property available. I, that's when I realized I've got to build a wholesale business that I can pick and choose from. So then my, my focus shifted. I joined your group November 18, 2024, and I went through your, your training, which was like, I think like it's scheduled for like a two week span or something. I, I had knocked it out in two days and I just couldn't, I couldn't get enough of it. I took all your advice as far as like, I use a mojo dialer. Well, I, I started, I was using propstream. I went to deal machine. I started making single line dials, right? And now and then I'm not even like, sure if my list. I'm like, I know, I understand how the list works, but I don't know how quality my data is. So I'm like, I'm trying. I'm kind of like fumbling through it. So I reach out to another local wholesaler. Alex. Thank you, Alex. If you see this, he blessed me with a very good skip trace, highly motivated list. He's like, I got so much that he. Now this guy, he does 12 or 15 deals a month. So he's got a lot of experience. He. He blessed me. He gave me a list and I started calling it now. From November 18th to the. To day 57, from joining your group, I was closing my first deal. And then Wednesday this week, which would be. Which lands on day 64 from meeting you be closing my second deal. Both those were locked up in December. I think it took me from the time.

[Brent Daniels]

Let's do a deal breakdown at the end of this so that we can really get. Because I really want to get into the nitty gritty of those deals. Like how you found them. What. What was going on? What was the motivation of the property owner? Like, all of that stuff. But I want so guys, something that I love about Ty. Ty has this. Pull up your sheet right now. Ty has this all written out. He prepared for this with all of his timelines and his story. Exactly. Because he's got this beautiful analytical brain. But he also takes massive, imperfect action. And you see some people that are very organized. You know, sometimes it takes them a long time to do stuff because they want to make sure that they're perfect right before they make a call. They want to make sure that their scripts are dialed in and they know exactly how to overcome any objections. And all of that. Ty's just going out there and taking massive, imperfect action. And to really pinpoint this, Ty, you posted to the Facebook group that you needed $35,000 for a deal that you don't have. What. What gave you the intuition to even post that? And why did you post that specifically? Why did you think that. That out of anything else that you could post, like, can somebody help me? I'm looking to get started. I'm looking for this. Why did you post that post? And. And holy cow. I mean, it was the right one.

[Ty Downey]

It.

[Brent Daniels]

It exploded your network by just meeting Amanda. And then all of a sudden, it's. Dominoes start falling. So why'd you post that?

[Ty Downey]

So I'm trying to, I'm trying to walk it back in my head. So in my head I was like, okay, I need to now. At the time I didn't even know loan to value, how to, you know, private money. I knew I like I knew what kind of what private money was. I didn't know any of the details or anything. So in my head I was like, I was thinking, well, if I find a hundred thousand dollar deal, maybe $30,000 will get my foot in the door. And then I would just have to figure out then I had to. I knew I was going to have to convince somebody to give me $30,000 and I was also going to have to find a deal.

[Brent Daniels]

But so you tell, you telling me you didn't have just $30,000 just laying around to do your first real estate deal. So you either had to raise it or you had to go out and find a deal, sell it to another investor and raise it that way, which is what we call wholesaling. So for anybody that is, that just doesn't understand the term wholesaling. I didn't for a long time and I had a real estate license for 13 years before I even knew what wholesaling was. Essentially what happens is there's a seller that wants to sell their house for cash and they want to sell it as is. They don't want this property anymore. They want to get rid of it as quick as and easy as possible. And then there are investors in town. They, they don't want to go find the deals. They want you to bring them deals. They want a wholesaler to bring them deals so that they can just focus on running their crews, fixing up the property, doing property management or flipping it for a profit. So there's this beautiful middle ground and that's what we're talking about. That's what Ty discovered when he was looking for deals for him to flip. He's like, wait a second, look at these wholesalers. Who are these wholesalers? These wholesalers are bringing like these deals to me. But I want more deals. Maybe I can go find them myself.

[Ty Downey]

Yes.

[Brent Daniels]

And that's when you, you, you open the door to a different skill, a different business altogether, which is finding discounted properties. And I am telling you guys, when you can find discounted properties on a consistent basis, you win good markets, flat markets, down markets. Whoever can source the best deals wins in every market since the beginning of private home ownership, private real estate ownership, if you can find the deal. It's just like in rich dad, poor dad, you know, Robert Kiyosaki talks about how his first seminar, his instructor said, go out there, find a hundred, make 100 offers on properties to get one deal. It's the same thing. You need to take the reps to be able to discover the potential of properties. And that's what Ty's doing. So. Absolutely incredible. Now, you mentioned a couple different things. You mentioned mojo dialer, and you mentioned skip tracing. What is, what do those things mean?

[Ty Downey]

Okay, so mojo dialer, triple line dialer, right? It'll make three calls for you at once and it'll. It'll determine if. Whether it's a deadline or whether it went to a fax machine. If a voicemail picks up, you have the option to basically continue. You could record a. You could have a set recorded voicemail that you just hit a button and it goes. Or you could, you know, verbally leave a voicemail if you want. Either way. So that, yeah, triple line dialer was a game changer, which again, I knew that that was the, the next step to the single line dialer. But ever all this was coming, well, still is coming out of my W2 job until these two properties pay that I locked up in December, which will be hopefully Wednesday this week. But yeah, so, so I was. I was working on a very, very, very tight budget. You know, a couple two or three hundred dollars was a game changer for me. Right. Of extra investment and then not knowing for sure if that was. If that was going to convert into profit, you know, So I mean, I took like, even. Even taking your mentorship, it was a man. I really had to consider it because one thing I know that every person agrees is that always invest in your education. Always, you know, take. Get a partner on doing this kind of stuff. Get as many people involved as you can and just ask a million questions. So your mentorship, I was like, oh man, I don't know, you know, and then I was like, I think it's the right thing to do. And I just pulled the trigger, man. If you ever pull up my conversations that I had with your guy on the phone. What's his name? Huh?

[Brent Daniels]

Derek?

[Ty Downey]

No. Is there another one?

[Brent Daniels]

Zach.

[Ty Downey]

Zach. If you have those conversations recorded, you will laugh your butt off me talking to Zach.

[Brent Daniels]

But you're right, Ty. You're 100% right. You know, there's. There's the old saying that the most valuable real estate is the six inches between your ears, right? It's your brain. It's. It's investing in yourself. You know, once we get out of school, that doesn't mean that the education's over. It just means that we get to choose, choose where we're spending our time and, and the interest that we have. And, and it, it seems like since you were little, you've had key people in your life is what you said, and I wrote it down, that have shown you that owning real estate really builds long term wealth. And, and you wanted to be able to do that and to, and you got to learn the skills to be able to do that, right? Because you can get burned and you can make bad investments. And so you got to be around people that one, have a lot more experience than you. But two, will help reduce the, what we call the stupid tax, right? The tax that we pay when we don't know what we don't know and we make decisions based on, you know, maybe other life experiences or what people are saying, but it's, it's not the right deal. And you don't want to, you know, make, make too many big mistakes in real estate because the costs are too heavy. So I love it. And one other thing that you, you said, Ty, that I think is really important for everybody to understand. Listen to me, listen to me here. There is more money than there are deals, okay? There is more money than there are deals. Private money lenders, hard money lenders, transactional funding lenders are chomping at the bit for you to start a relationship with them and do a bunch of deals with them. They want to give you money. Everybody listening to this or watching this, you need to understand this. You have an ocean full of capital at your disposal if you know how to find great real estate deals. And that's what we focus on, Ty. That's what we focus on. We focus on how do we go out and find the best deals where we can solve the problem of the property owner, which is they want to sell this property with the least amount of hassles in the fastest amount of time. And they don't want to do anything to the property, which is very different than putting your home on the market, going through appraisals, going through inspections, having home warranties, all this. This is the 6 to 10% statistically of people in the United States that are in some sort of distress. They have some motivation to sell that property. Those are the people that we can serve. We can't serve 94 to 90% of the other people, but we target the people that we can really help out with the cash as is offer, match them with an investor that has the cash and the, and the experience to be able to turn that property into something special. And those investors want to take the risk. They want to take the risk of investing their hard earned money into these properties because they know that they can get a return.

[Ty Downey]

Well, and I'll piggyback on that because for who knows how many years, I thought money was the obstacle. I thought I was going to have to save 50 or $100,000 just to even get started.

[Brent Daniels]

Yeah.

[Ty Downey]

And I'm telling you, I started with zero dollars and a dream and a work ethic. And then, then I was. Yeah. And then, and then I learned what the, the whole private money is a whole industry in itself like, that I wasn't aware of. Now, I, I mean, I could pro. I probably got six people I could text and have a deal funded, you know, today or tomorrow, whatever. Yeah, yeah. And so it's, it's, it's a, it's a, it's a product. The money is a product. Right.

[Brent Daniels]

Money is never, Money has never been the obstacle. It's only made up. It's, it's fugazi, it's fake. It's, that's something that we hallucinate. What, what really is the first step is, is this a deal or not a deal?

[Ty Downey]

Yes.

[Brent Daniels]

Well, really, the first step is have a quality conversation with a property owner and make an offer, but then determining is this offer a deal or not a deal. And then from there, once you learn that and once you have those skills, you are unstoppable. That's why we have the rhino. That's why the rhino is like our mascot is because you can literally be like a 4,000 pound charging rhinoceros. Once you understand how to find deals, negotiate deals and, and work with the people that have the money to fund them, it's awesome. This is the best business ever, isn't it, Ty?

[Ty Downey]

It is. And I'll tell you just in eight weeks time, I went from knowing basically zero about wholesaling.

[Brent Daniels]

Yep.

[Ty Downey]

To eight weeks later. I have two, two callers. I have a transaction coordinator. I have, which I think is a very attainable goal of at least two contracts a month for the next 90 days. And then it, then it increases from there. Once we've got a proven system, we're tracking KPIs where I'm edit, I'm auditing calls.

[Brent Daniels]

Yep.

[Ty Downey]

I'm, I'm doing all the things right. It's like, okay, you need to do this. Okay, well, I need to figure out how to do that. But okay. And then I just, I just keep yeah, it's. It's awesome. So thank you.

[Brent Daniels]

Yeah, you got it. I mean, listen, this only works if you do. So I love that you took the instruction. You went. And again, you took the massive, imperfect action, and that's what. That's what happens. It's progress, not perfection. When we're going out there and we're making offers to property owners. So let me ask you this.

[Ty Downey]

I'm also.

[Brent Daniels]

There they are. There's your books.

[Ty Downey]

Yeah.

[Brent Daniels]

Let me ask you this. What's your top strategy for finding great real estate deals?

[Ty Downey]

Well, I mean, right now. Right now, it's cold calling is the way we're doing it. I can tell you that. I first was. I wasn't wholesaling, but I was. I knew at least I had enough sense to try to send some mail. Mail letters out.

[Brent Daniels]

Yep.

[Ty Downey]

And, man, that was costing me a lot of money. I had zero systems in place. I was just, like, winging it on some prop stream or deal machine list. And. Yeah, that. And then when I talked to Zach, your guy Zach, he was like, I'm gonna teach you a better way. We're gonna teach you a better way, I promise.

[Brent Daniels]

Yep.

[Ty Downey]

And sure enough, here we are.

[Brent Daniels]

You pull a list from deal machine, you put it into your dialer. Mojo dialer. You have virtual assistants that you pay. How much an hour?

[Ty Downey]

$7 an hour. And then one of the colors is my stepson, and he's got the commission plus a little bit of money per week.

[Brent Daniels]

All right, so they're making the calls. They give you the leads, and then you get on the phone and do the lead. Follow up, you pre qualify, and then you. You do the offer presentation.

[Ty Downey]

Right. So they. They work out a mojo, and then they. And then my CRM, actually, I use the same one as you Follow up boss. I saw it on one of your web. Your Zoom meetings.

[Brent Daniels]

Yeah.

[Ty Downey]

And so I use follow up boss. So, yeah, Mojo integrates straight over to follow up boss. And then I take it from there, depending on the level of motivation, Hot, warm or cold. And. And then that's. That's a whole nother process, you know, Then I got processes for that too, kind of. I've got more process for processes for the people under me than I do for myself. So I'm just kind of starting at the ground and building things as I go. Yeah. Does that answer your question?

[Brent Daniels]

That's awesome. So let's break down the steel. How did you find it? How much did they want? What was going on? What did you sell for? What'd you make. Walk us through it.

[Ty Downey]

So I. I told you a little bit ago that my buddy Alex, very successful wholesaler, he blessed me with a list that he had. The geofencing, the credit checks, all the stuff. I don't even know what all he did to it. So I was calling off of his list and. And. But. But there was quite a few that were. I had in my deal machine already marked for filtered. So, long story short, I reached out to. Let's see which one was the first. First one was the one on Morris street. And I couldn't get a hold of this guy. And I. I just kind of kept trying a little bit and kept trying. Finally I got a hold of him, and I think it might have been through a text message. And then we had. Now this guy, I live in Kansas and he lives in Colorado. So he was like, yeah, I want to sell the property. And then. And then, like, then he didn't return a text for days. And so I'm hitting him again. I'm like, okay. Obviously he says he wants to sell and I can't. Then finally I get a hold of him and he's dead set on. On $20,000. He goes. Now, my understanding is he had lived here at one point and he bought the house, I think, as an investment, and then he moved to Colorado. So the house was just sitting there empty. So I'm like, what, you know, what's going on with it? And he's like, go by and look at it if you want to. So I do. And the city has already got it boarded up, scrooge windows, everything screwed shut. And so I. I didn't go into it. I said, well, tell me about it. I'll make you an offer. He goes, I want 20,000. That's what I got into it. Now, I knew that was a risk, so I. I told him very clearly. I was like, look, I'm an investor. I said, I will contract you for $20,000, but just know this, I'm going to present this to other investors. And if. If it's. If it doesn't go anywhere, then we might not have a deal. He said, okay, I can. I can get a. Get behind that. I just wanted to be transparent. Sure. So then. So I got that one locked up for 20 grand. And then I think it was just like within. Within a few days, I got another one locked up cold call. Call these people. And this man that answered the phone, he owned the house. And he was like, yeah, I want to sell the house, but I need you to talk to my sister, and she lives in Oklahoma. So I was like, okay. And I didn't get a hold of her. I called him back, like, a couple days went by, and she. She was there. She was at his house, and. And they just shot me an offer. And they're like, yeah, we want to sell at $15,000. I was like, when can I meet you to sign an agreement? And so, yeah, so I. So I got those two locked up. And I am. I'm like, I'm a little cautious because of how fast it happened. Because just like my first flip contract, you know, it was like, it happened right away. And then I spent weeks looking for the next one anyway, but it's all. But it's all good. So. So I got them basically locked up for what they were asking. Wasn't hard to negotiate. Ended up. So then. So to dispo them, I was like, okay, I. I do have access to buyers, but I'm not an established wholesaler. But my buddy Alex that I mentioned earlier, he's got a huge buyer's list. And he offered. He goes, I'll give you a 730 split, 7030 split in your favor. I'll help you dispo. Now. He's been like a second mentor to me. He's really kind of held my hand on a bunch of stuff. Really helped me get through a bunch of processes because, you know, like you said, Brent, you said, find somebody local that can complement the training. So that's immediately. What I did was I reached out to him and I was like, hey, man. And I think. I think he probably didn't think I was real serious at first, and I kind of kept pestering him a little bit, and I would just shoot him text. Text messages with updates. You know, first it was like, hey, I need help. And then it was like, hey, I got a dialer. And then he was like, hey, I'm. And I'm telling him, hey, I've started making calls. Hey. I hired Brent Daniels's service. And then he was like, okay. And then he just started helping. Sorry. I got off on track there a little bit, but. So he. He helped me dismo him. We had him dispoed within a couple weeks. The one on Morris had a lot of fire damage, so that was going to be a. I already knew that was going to be a hard one that possibly nobody wanted. Well, being the. Being the awesome guy that he is, he was able to work them up into a package deal. $55,000 for the pair. And. And we got 35 into them. So what? That ended up. So that one closed last week and one's closing Wednesday this week. So.

[Brent Daniels]

And you're going to net how much?

[Ty Downey]

He'll get 30% on that 14 and he'll make six.

[Brent Daniels]

Come on. Oh, that is awesome. That is awesome. There's some crazy stats on, besides selling a property, the amount of people that actually receive five figure checks in their lifetime. And it is so low, I think it's only like 18, 20% of people their whole lives ever receive a check. That's five figures. And you did it in your first.

[Ty Downey]

I think it was like six weeks or something. Six weeks total from start to your program to close of second property is exactly 64 days.

[Brent Daniels]

Awesome. Congratulations.

[Ty Downey]

Thank you.

[Brent Daniels]

Right. You're crossing the bridge. Right? And this is so critical from when we're getting started. We have so much faith that we can do this and we've looked at this and we've built it up and maybe we have some self doubt and we battled that and we've pushed that down. But you have faith at the end of the day that it's going to work. And then when you cross that bridge, once you see that wire hit your account or pick up that cashier's check from the title company or closing attorney, you're like, this is real. I remember the first time that I held the check and I was like, wait a second, I get to deposit this? This is mine. This is crazy. This, this is. I can do this again and again and again. I have. And, and, and you could do millions, millions and millions and millions of dollars a year. But it starts with closing your first deal. It starts with understanding that it is a fact that you can do this. And I'm just so happy for you, Ty. So incredibly happy. And listen, small market, big market, it doesn't matter, right? It doesn't matter. There's always going to be opportunities in every single market. And I really think you're in a phenomenal market. I think there's a lot of buyers in Wichita. I think there's a lot of opportunities in Wichita. So keep going, man.

[Ty Downey]

Thank you.

[Brent Daniels]

This is just the start for you for sure.

[Ty Downey]

Yeah. This, this, the, these closings will enable me to push the gas a little bit more on the business. That's right.

[Brent Daniels]

And your goal is to be in real estate full time by when?

[Ty Downey]

Hard goal is December 2025. Soft goal is July 2025.

[Brent Daniels]

Let's, let's make that July.

[Ty Downey]

Yeah.

[Brent Daniels]

You know what I mean? Let's, let's, let's, let's get into this hustle season and really push it. Really push it. And remember, hustle is a season. It's not a lifestyle, it's not a lifetime. It is, it is when you're building that momentum. And I'm telling you, once, once that train's going down the tracks and once your lead generation, which is the engine of your train is going down the tracks of your business, you are going to build that momentum and really do some amazing things. And you don't have to put in 100 hour weeks anymore, 60 hour weeks anymore. Now I work five hours a week in my business and last year we did 2.4, almost 2.5 million in revenue. And I get to keep a majority. I mean, I get to keep a good portion of that. Yeah, wouldn't say a majority, but I get to keep a good portion of that. And it's just phenomenal. But I remember back in the day, Ty, I remember pounding the phones for hours and hours and sometimes all day. You know, we've got Eugene Latson who last week was on the phone from 8:00am to 8:00pm Talked to 275 property owners in 12 hours. Like that's what we need to really start going to really start building a pipeline of opportunities. And then all of a sudden it starts snowballing and we start hiring people and we start replacing people and we start moving from the left side of the cash flow quadrant to the right side of the cash flow quadrant where time isn't attached to our income. And that to me is the ultimate goal, is the ultimate goal to be able to build something that serves our community that I don't have to be involved in all the time and that I have great people in each role that will do better than me in each and every single part of it. And that elevates your service level, which elevates your income. Our income is equal to the amount of service we provide. And that's the truth. And if you ask Albert Einstein why we are here, it is to serve other people and it's the absolute truth. So, Ty, give us some final thoughts. What would you tell anybody that hasn't done their first deal? What encouragement would you give them? And also how can people reach out to you if they want to just say congratulations or maybe they want to do deals with you in Wichita.

[Ty Downey]

So Facebook, Ty Downey has got my picture on it. That's the extent of my social media. I got kind of rid of that when I started focusing on stuff. But for Encouragement. I mean, it's possible. Whatever, whatever. You know, you want to get into this game, do it. Whatever you think is stopping you. Go ask three or four people that are in the. In the business, and I guarantee you, whatever that thing is, it's not stopping you. Meet as many people as you can. Talk to as many people as you can. Just like you're. Talk to people, right? Talk to people. Talk to people. You are. You are the. You are or will be the average of the five people that you surround yourself with. It's a fact. It is a fact. And so surround yourself with people that are where you want to be. Just push your way in, be nice, be polite, and they'll help you. The. The last thing I want to say is the mentality of give, give, give that. You got to have that mentality. A lot of these relationships, and still to this day, I haven't been able to add much value, but I know that I will as soon as I can. I will always add value to the people that have. I mean, to anybody. But really, the people that help you, help them back. I mean, it can happen. You just got to do it.

[Brent Daniels]

Well, everybody starts somewhere, you know, and look, you're given 30% to a deal that, you know, to somebody that would never have received that income. So it starts with that, but it also just starts with answering your phone. It starts with being a friend. It starts with responding and helping people when they need some help. It happens when, after you've done 100 deals, Ty, now you've got somebody under your wing. You know what I mean? And so, time and place for everything. But you're doing phenomenal. And I'm so excited and so happy for you and so glad that you came here to share your story, because I think it's important. I think it's important to show people that they can do this, you know, and anybody can. It doesn't matter what your background is, doesn't matter what your age is, doesn't matter if you're just getting started and you have a little bit of time or you have a lot of time, anybody can start going in this. And that's what's so exciting about real estate. And then once the momentum starts really building up, that's when you go and you take the money off the table. You have enough income. You have enough income to then go buy assets.

[Ty Downey]

Yeah.

[Brent Daniels]

And then your assets are the ones that are paying your bills and your expenses, and that's how you get out of the rat race. So, Ty, thanks for being on here brother. Really appreciate it.

[Ty Downey]

Appreciate it. I appreciate everything that you've done. You, you've answered every text I've sent you, every call your everybody that works for you has been amazing. Answer every question. So I mean what, what more could you ask for?

[Brent Daniels]

Awesome. Thanks Tyler. We'll see you later.

[Ty Downey]

See you buddy.

[Brent Daniels]

Thank you for listening to today's show. What an incredible show. Real life every time. If I can do it and if Ty can do it, so can you. Now he mentioned a tool called DealMachine. DealMachine is the number one tool. I am telling you if you are going to find the best discounted properties, dealmachine.com is a must. Use the coupon code Rich dad we've negotiated some incredible, incredible discounts for. So use that Rich dad code. And also if you're interested in joining the Rich dad community where you get access to all the trainings, all the community, being around people that are doing amazing things and really changing your environment when it comes to investing in real estate, go to richdadpro.com richdadpro.com I do a support call every single Wednesday answering your calls. Love to see you in there. Till next time. Love you. Thanks for listening to Rich Dad Radio, the good news and bad news about flipping real estate, hosted by Brent Daniels. To learn more, go to richdad.com don't forget to like and subscribe wherever you get your podcasts.

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