Loading summary
Transcript55 lines
- [00:02]
Ty
We need this money bag, kid.
- [00:03]
Brody Fawcett
We got the money and then some cash. What? Real money? Real money. Money is the answer. Money. Yikes.
- [00:16]
Unknown
Money, money. The game everyone plays but few win. Extracting the knowledge from the top 1%. Extracting the knowledge and teaching you the ever changing rules of play. It's time to level up and of the money game.
- [00:35]
Ty
Welcome back to the money game. Super stoked for the guest we got on. It's my man, Brody Fawcett. What's up, Brody?
- [00:42]
Brody Fawcett
What's up, Ty? Happy to be here, man.
- [00:46]
Ty
Stoked to have you guys for, for you. Listen, this is a huge treat. This guy's a busy guy in my opinion and professional opinion. He's one of the top rising real estate investing coaches in the, in the country right now. Runs an awesome program called the real estate investing school. This is a guy I know personally. He came from the same industry as myself. We kind of sinked through that but have become kind of long distance friends through that relationship and just through reps. But super grateful for you, dude, and grateful to have you on and have a chance for people to pick your brain. I know obviously you get paid the big bucks to do this on the daily and teach people this stuff, but we're, we're grateful you could find some time for us this morning, dude.
- [01:36]
Brody Fawcett
Absolutely, man. Yeah, it's funny because, like, I don't know, busy. Busy is an interesting word, right? Because you can be busy, you can be bad busy. And so it's just, hopefully it's, it's good busy being busy with the things that we want to be busy with. Right? Versus being busy with the things that other people kind of put on our plate. And I think that's, that's the ultimate goal. That's the ultimate key is like, I used to think it was always about working and investing so that you don't have to work anymore. And to me, now I realize it's really not about that because you can get to a spot where you have enough passive income to replace your active income or retire early or whatever, and then you can actually sit on the couch or you can be busy doing something you don't really care to do and it's not fulfilling to you. And so for me, it's all about creating that lifestyle freedom and that fulfillment and. And it's about the key word I feel like, is having the option to not have to work. Right? Like, I probably work more now than I ever have, to be honest. I put more hours in, but it's completely different because it's like, if I didn't want to, I don't have to. And so it's just having that option to be busy. And that's where I feel like the power. Power lies. Right?
- [02:50]
Ty
Dude, I love that. Starting us off with a banger. And I think, Cause, dude, that's such a big misconception. And I hear it from new reps in my space. Everybody that starts to talk about investing, I want to retire and do nothing. When I'm 30, I'm like, dude, I have a really hard time believing that for the next 70 years of your life, you're going to be cool just playing golf.
- [03:12]
Brody Fawcett
Totally.
- [03:14]
Ty
I don't think you're going to grind to that point and create that much success in such a tiny window and then be okay to not build, not create. And I think that the misconception a lot of people have, and you hit it right on the head, is.
- [03:31]
Brody Fawcett
The.
- [03:31]
Ty
Freedom, the ability to say, if I want to go to the lake, if I need to go to this birthday party, if I want to go to this event, I can, because it's in my control. But the creation, the fulfillment, the development, you have to get crazy obsessed with just the progress.
- [03:49]
Brody Fawcett
Yeah.
- [03:49]
Ty
And always rolling, because your number, my number, Bill Gates number, Warren Buffett's, you know, Grant Cardone, like, everybody's number's different at a different point in time. And if you're just gonna stop at the number, like, you'll never hit it.
- [04:03]
Brody Fawcett
Yep. Yeah. No, that's so good, man. I think, because success is defined differently for different people. Right. And it's not always because would you rather be successful or would you rather be financially well off? Right. And I think there's a big correlation between the two. But there's a lot of people that probably make way more money than you and I both do, and we wouldn't trade them lifestyles ever. Right. And so, to me, that's not true success. And so it's just a matter. And I think that's why I've kind of gotten obsessed with the word passive income. Right. And building that and working hard today for an easier tomorrow, because it puts you in the driver's seat. It puts you in control. And, like, if you can grind now and build that up, but with the intention of also, like, building yourself up and working on you and, like, defining your dream life is not just to sit on the couch. You ask anybody. Like, it's. They think it is, but it's really not, because that's not fulfilling and that's not growing and it's interesting if you think back to a time in your life when you were coasting or going through the motions, guarantee like you were depressed on some level, you weren't happy. Right. And so. And I think we're designed that way. I think that's how God built us is like, hey, like, you're on this earth to go maximize your potential and reach your potential. And so by default, as you're growing and as you're putting yourself in these situations to go and actually reach your potential, there's a byproduct that comes from it, and that's like joy, happiness, fulfillment. Fulfillment. And that's in all levels of growing in life. But the second we stop growing and stop pushing ourselves, all of a sudden we're just not as happy. And so I think the same thing goes, all of a sudden, you become financially free. If you want that happiness and that true success, you have to be growing in all of those levels continually.
- [05:59]
Ty
I like that you said that. And I think it's just something that people miss. And it's. I can totally relate to that when I'm coasting, whether that's been in my athletics, my business career. When you operate on autopilot, you. You're just so much an agent of whatever else is going on. You're kind of just a reactor. You're not attacking life, you're not attacking your relationships, your business, your friendships, your health, your mental, your spirituality. Because the biggest misconception is that you can get to this plateau in your finances, your faith, your health. You can't just get jacked and then just be like, dude, I hit the pinnacle of 6% body fat and I can do whatever. Like, you have to continue to push the calories, push the burn, push everything. Just like your finances, you can't just put this portfolio together and then just chill.
- [06:54]
Brody Fawcett
Yeah.
- [06:55]
Ty
Like, there's active management, there's the development and paying attention to those things. But I want to just. You said something really interesting, the dream life. And I know that's a big part of your message is getting really deliberate with what you want and how you're going to create it and kind of just going backwards and using real estate as a vehicle to create the passive income from your active income and really getting strategic with that. But just something we always do in this podcast. Obviously, dude, you're. You're at a place where you found a ton of success. But I think a lot of our listeners, not everybody is at this level yet, usually, and sometimes it can seem daunting. So I kind of want to backtrack just a bit for a sec. For you growing up in your home as a kid, I think this is one of the biggest things that I always want to get from people, because I think this is the biggest problem with real estate, with wealth, with money. It's just not talked about enough. The conversations aren't normalized. Money's taboo. And so for you and your home, how was money portrayed? How was success portrayed? Or if at all, like, how did that affect you as you kind of. Because you were successful very young, how did the conversations you had in your home kind of affect you going into your careers?
- [08:19]
Brody Fawcett
Yeah, man, that's a good question. It's interesting as well, because, you know, the, like, more recently, and I don't know if it's like, as. As more success comes, it causes you to naturally, like, reflect back on these lessons that you learned growing up or. Or where you came from or, you know, experiences or whatever. But it just. It's funny because growing up, I never thought about that in the moment, like, oh, I'm learning this thing. Or like, this was a good lesson that's going to help me in the future. And that's probably just the way life goes. It doesn't. Every hindsight's 20 20. Right. Um, but I think a couple of things, like, like, I didn't. I didn't grow up with a ton of money necessarily. Probably, like, I don't know, middle class, but on, like, the lower end of the middle class. And we, I mean, we were good. We had sufficient for our needs, for sure. But at the same time, like, I was the kid that, like, I had to pay for my spirit pack for sports in high school. I had to pay for my phone. I had to pay for my insurance. And. And at the time, like, I was mad about. I remember telling my mom, like, whatever it is, 40 bucks to get, like, your. Your practice shorts and shirt. And I was. I was pissed. I was like, mom, none of my friends, not one person on the football team has to do this, has to pay for this. And. And part of it was like, I. I'm the oldest of six kids, so there wasn't a lot of extra to go around. And then the other part was probably just, you know, forcing me to learn a lesson or to do things. And I even remember in. In sports, like, I remember getting mad at this kid on my team one time because he was just like, yeah, my dad said my job is to hit in the batting cages or my job is this. And so his dad would literally pay him to practice. And I remember being like, dude, I wish I had that luxury because, like, my parents are making me work this job and then fit practice in, you know, in between that. And so anyhow, those are, like, all good lessons. I think my parents are. Well, more so. My mom was always, like, this natural entrepreneur, and she'd, you know, try things, whether it be like an MLM or whatever it may be. She always cut hair from. From our house. And just. I saw a lot of that, her starting her own things and. And being passionate about that stuff. So I feel like that just naturally rubbed off on me. And then my. My grandpa on my dad's side, he. My dad grew up on a farm, and not like a wealthy farm, but, like, that's what they did for a. For a living, you know, pretty poor farm. And so I learned a lot from that about, like, hard work. And then on the other end of it, my other grandpa has a ranch. And so I learned a lot about that because he was financially well off. He owned his own business. And so I'd go work for him in the summers. And so I'd learn a lot of little things that I'd pick up from him. And I remember seeing him, you know, sitting in his truck and writing me a check after I'd, you know, worked hard for the week or seeing other workers come to him, and he'd write a check and pay these other guys that are putting in fences or building barns or whatever. And so I think I saw a lot of that, and I'm like, oh, that's cool. I want to be the guy that's writing the checks, and I want to be on that end of it where I'm helping people. And so I feel like all that played a big role in it. And just naturally, I've always had this mindset of. I think I said it earlier, but I don't mind working hard. I actually love it. But the purpose, there has to be an intent behind it. If I'm working hard. Just to work hard today, to wake up the next morning, work hard again the next morning, to wake up next morning, work hard again the next morning. Nothing against working hard, but I'm a fan of, like, building up this. This freedom, you know, if I work really hard. And I always did that growing up, and, like, I had a job at the car wash, and I would work really hard so I can, you know, make tips. And I would try and do the. Go the extra mile to save up more money, work harder today. So That I can be basically have some breathing room, right? And so that's kind of always been ingrained in me and, and I've always been like that natural person that's like, hey, what can I do? What can I create that's going to allow me to get ahead in life? So, yeah, freedom in the future.
- [12:20]
Ty
It's really interesting because as I've done more and more of these and I'm always picking people's brains, I think anybody who is really trying to push the needle, there's always something to learn and there's so much out there. But it's interesting that you said you had to pay for stuff as a kid because that is one of the most common threads that I'm realizing is really a huge game changer in people getting started early. A lot of people, myself included, I played sports and I even came from a really well off family and I still paid for my school lunch, I paid for my phone, I paid for my insurance, paid for my gas. And I remember the same conversations with my parents like, yo, everybody else's parents pays for their gas if they're playing sports. Like, why do I got, why do I got to pay for insurance? Why do I got to pay for my phone? And I would go from practice to mowing lawns to teaching swim lessons and just grinded every summer since I was 12. And I didn't realize, but as I've gotten older, especially as I've done a lot of these interviews, I think that economic independence at a really young age, in just the varying degrees starting to pay for stuff, I think it creates a ambitious maturity in people. And this is kind of just this theory I have. But as I've done a lot more of these interviews, I really genuinely believe that some of the stuff that's missing for people to really push themselves is they haven't had enough time footing the bill. And I think you've seen it as you ran sales reps. I see it a lot. If there's any level of a sales rep in my space where their rent, their phone, their. More something is school is being paid for by parents. There's this fallback fund. Sometimes it just doesn't click that it's like, hey, this is adult time, this is my time. I don't have free time until till then, like just like you said, right? Like grinding, working hard for no reason sucks. But it's to get to that point of you got to cover the basic necessities. And then obviously as you've done with real estate, then you can go create massive abundance with your hard work and create the passive income. I just. That's. I'm always paying attention to see who. Who had to pay for stuff as a kid. Because I feel like that that's such a big ingredient in getting there early.
- [14:44]
Brody Fawcett
Yeah, it's interesting how much correlation there is even just thinking about it. You talked about lunch money. You know, one of the things that I would do in real school, I think I got. I think I would get 15 bucks for, like, the week, you know, which. I don't know. You go to subway and it's $5 foot long. It's like, how's it supposed to last me five days? But I would. This is. This is like the worst health advice you can. You can get. But those honey buns, I would like, what's the biggest bang for my buck for lunch? And it was like a $9. And so, like, legit. That was my lunch. Like, I'd have my 15 bucks and go buy a honey bun. Cause it was probably the most calories. And so I'd pound that for lunch, and then I would save my extra three bucks or whatever. So it was a way for me to make $10 a week, you know, just from eating the honey buns. But once again, like, sacrificing, you know, now for, like, a better future. And I think that's apparent in you, right? Even coming from, like, a wealthy background and wealthy parents, like most people that come from that, they don't go knock doors. They don't, like, willingly put themselves in that pain and willingly sacrifice to do that when they don't have to. Right, because you don't have to. But I can tell that's the way that you were raised. And so you're used to doing those hard things. You're used to sacrificing. And it all just. All of it correlates, man. You see an opportunity, it's like, hey, I'm gonna go take advantage to go get ahead in life now and go, like, go through the pain now. Do what's hard now for an easier tomorrow versus do what's easy today for a hard tomorrow.
- [16:18]
Ty
I love that that's such a good way to easily frame why we do what we do. And the reason, because it's just. I had this conversation, I think right now in our youth, in our kind of the best years of our life from a production, mental health, everything, there's. There's so much development and change, but especially as I've become a parent, it's like, man, the Sacrifices and the things I'm willing to take on now because I want to be so available. Like, the thought of not having the option at their first game, their first dance, their first, like, you know, big birthday party with friends, first sleepover, like, the thought of not having the freedom to participate in those activities is like. Is a huge motivator. And I'm sure, obviously, you know that with two daughters, but in your expertise, I obviously just getting a little bit background, I want to pivot in and just talk shop for the last little bit. I respect your time in your space, obviously, real estate, an incredible vehicle. I think this is. And you know this better than anybody, especially with social media, it's been. It's been just, like, absolutely sexified. There's. There's so much stuff out there. It's like everybody should be at flipping houses or doing rentals or doing Airbnbs or whatever, and there is a ton of ability to do that. I think so many people, though, are. Are not moving the needle. And some people play and they play wrong. So for you, obviously, kind of Your development's been 10 years running now or so. How was your first deal and kind of the scale to where you're currently at now?
- [18:07]
Brody Fawcett
Yeah, great question, man. I want to dive into it. It's funny. You're right. There are so many distractions. I got an ad today, like, this is why I invest in this type of real estate. And I'm like, I get it. It's so confusing for people trying to figure out what to do because there's all of these voices and everybody trying to, you know, I don't know, make a stand. And a lot of it's just like a quick cash grab, right? But. But yeah, diving into it. I think, like, before, on the real estate side, you brought up a good point where a lot of what you do now is driven by the lifestyle that you want to create and the lifestyle you want to build. And that's, like, what got me into real estate. That's what why I'm in real estate now. Right. But I think a lot of people, and I call it the lifestyle filter, and it just goes hand in hand with everything we're doing, but like, and everything we're talking about, because the reason you're willing to trade a harder today for an easier tomorrow and not the other way around is because you understand that the easier tomorrow, like, that's setting you up for the life that you want to live, right? And you want to live that easy life. And so I think what happens Is now any opportunity that I get or anything that's presented, it first starts with the lifestyle, right? Does it come through the filter? And if it goes through the lifestyle filter of this fits the way that I want to live and the time freedom that I want, and it spits out and it's like, cool, that works awesome, then I can say, yes, that opportunity or go into it, right? But a lot of times it doesn't fit through the filter. And a lot of times what people do is the exact opposite. Their lifestyle is by default, right? Because they have the career filter or they have the financial filter or the opportunity filter. Whatever it is, where it's like, hey, I have this opportunity, I got to take it. And by default, whatever hours it gives them to be at home with their family, whatever lifestyle gives them, that's living by default versus by design. And so I'm just a huge believer in getting so much clarity on, like, hey, this is the life that I want to live. And then from there, like, does this opportunity fit in, building that life for me? And if it's yes, you go all in on it. You know, if it's no, then you don't. You don't let your lifestyle take a backseat. And so that's where the driver comes from. That's where the motivator comes from. And I see that in you and a lot of successful people exact same way.
- [20:24]
Ty
And that's huge. I love how you frame that, because it is exactly right. Because I'm the same thing with social media, with advertisements, with the public knowledge of success today. It's like, oh, like go do be a crypto trader. Oh, be a real estate investor. Oh, like do short term, do Airbnbs. And it's, where are you trying to go? Because shiny object syndrome, there's a million ways to make a million bucks. And I think one of the reasons I'm so passionate about real estate, and I'm sure I know we've had conversations about this, is I work extremely hard and it's very tasking. And my. My normal active income job, door to door and training sales reps and creating teams and facilitating that, I am extremely strategic with how I want to multiply those earnings and perpetuate them forever. And for me, I feel real estate is one of the best vehicles to do that. As you said, to take active and throw it into and convert it into the perpetual passive income machine with appreciation and just cash flows and the different benefits that come from it. And I think the biggest reason I do that and a lot of people ask me, well, what if you put in this, you get a way bigger return in this fund or this NFT or this dumb thing. And I'm like, a hundred percent, maybe you can. But in the lifestyle filter, I think that's such a good way to say it. Do I have to learn a whole new job? Do I have to learn a whole new skill to, like, put this in? And is it going to pull away from my family, my freedom, my opportunities?
- [22:01]
Brody Fawcett
And a lot of people don't have clarity on that. And so life ends up being like a pinball machine where they get bounced around to this, that, this, that, right? Instead of being so clear on, this is what I want out of life and this is what I want to create. And most people don't even know what that looks like. And one of my favorite exercises, and even like when I was grinding door to door, it's like between the doors, I was thinking about this, I was like, what do I want to do? You know, like, all of the, A lot of the things that I enjoy now, like, we just bought a house in Maui, right? As a second home. And like, it's.
- [22:33]
Ty
That is congrats on that, by the way. Thanks.
- [22:35]
Brody Fawcett
So sick. Thanks. Yeah. Super fun, super exciting. But, like, especially the way that we got it right, we'll blow people's minds. But, like, a lot of people think it just, it just kind of like happened. And someone said to me the other day, like, I feel like you get lucky a lot and. And like, it was kind of a backhanded compliment, right? And I just, I give him a hard time now every time I see him, how lucky I am. But what a lot of people don't understand is this has been designed and written down so many times again and again and again and again and again. And like all of a sudden the opportunity comes up and it's like, I know what I'm doing, I know what I want. I know it's there. It wasn't just by happenstance. And so just getting clear on what you want is so important. If you're not clear on what it is, how are you supposed to take the path that's going to get you there? How are you supposed to recognize the opportunity that comes up because you don't even know where you want to go. And if you don't know where you want to go, ultimately any path will get you there, right? Doesn't matter which path you take, because it's going to get you somewhere and you don't know where that somewhere Needs to be.
- [23:37]
Ty
So, yeah, I'm a huge, huge believer in that. I think we both. Casey Bob, obviously a mentor to most people in our space, but the top 10 is an exercise I've done every day since I met that guy five years ago and even just finished listening to Grant Cardone's book again. And he's kind of in the ethers of insanity, but obviously dude gets it done. So you have to respect and acknowledge that there's a lot of things that can be replicated. Everybody I know that's genuinely super successful in pushing the needle is continuing to have extremely deliberate mental thought processes of what's next. You know, where am I going and why? And it's very deep, it's very ingrained. It's not a superficial level. I think a lot of people hear this type of stuff and they think, I'm going to get a goal board and I'm going to have a brainstorm session for an hour and then I'm going to forget about it. And it's not. It's a relentless commitment that causes the creativity that's necessary to win. And when you get so focused, so infatuated and it's so visual, it's so real to you that the things you're putting down every day, that you should have them, you need them, that they can happen, that they will happen in your life. You may not know how to get it, but that's the only way you'll be resourceful and creative enough. You know, the people, just superficial goals, whatever they do at one time, it's not that they don't have the talent, the ability, the resources. They just. They don't believe themselves when they put a goal down. Cause they just know they're not going to do whatever it takes to get it.
- [25:15]
Brody Fawcett
Yep, a hundred percent, man. Yep, a hundred percent. I agree with you. So, I mean, on the real estate side and how that all came about for me, it was kind of by accident. Like I said, I kind of had that upbringing. Like, I knew that I valued those things. I valued, you know, the passive income, so to speak, or the getting ahead in life or what it could do. And I've always been a big dreamer. And I mean, you could probably get that vibe just from the way we're talking about lifestyle and everything, right? Like, that gets me excited and that's what keeps me motivated and keeps me going. Right. And so when it came to real estate, I was looking for a house to go to, go to college, basically. And a lot of my buddies from high School. They were going to the same college I was. And it was tough. Everything was just saturated. We couldn't find a place to stay or a place to live. And my mom, I mentioned she was kind of always an entrepreneur, growing up and trying different things. She kind of dabbled in real estate. She was an agent. She did on the side. She'd only sell a couple houses a year, but it was her idea. And she just said to me, like, well, you should buy a house. And I've never thought about that before. I mean, I'm a college kid. I did not think I could go buy a house. I just didn't understand it right. And you don't know what you don't know. And even then, I didn't understand the power of it. But ultimately, we started asking around, and the way we found this house was, you know, we were asking around, and someone said, hey, this lady that goes to my church, she just passed away. Maybe her kids or grandkids want to sell the house. And so we reached out to them, and you can kind of imagine how that conversation went. Hey, sorry your grandma died. Do you want to sell her house? And they're like, yeah, let's do it. And so it was a great location. One house away from college campus. I still have that house today. And being basically living there with all my buddies. What happened was every single month, we decided what their rent was going to be, and they'd pay me their rent, and then I'd go pay the mortgage. And then all of a sudden, there was money left over after the mortgage, and all the expenses on the property were paid, and I didn't have to pay for my room because there was enough that covered all of that, and then cover the expenses, and then there's money left over. And so it was like this wild epiphany. And it took, like, a couple of months before it really clicked in. And I was like, holy smokes. Like, I'm making money every single month, and I'm not doing anything. And it really hit home because, like, I was a college student. I was working at Gold's Gym at the time, and I feel like all I was doing was going to school, doing homework, and working, right? Because I had a scholarship that covered half tuition. But once again, like, part of what was ingrained in me growing up and everything was, like, my parents weren't paying for school. You know, I didn't have any handouts that way. And so. And I also didn't want to take out any loans, so I'm like, Thinking in my. I actually don't even know if I knew that was an option. Like, I didn't know you could go get, like, a loan on a car. And I don't know until I. I don't know, I was in college, like, oh, that's an option. You can actually get payments and make.
- [28:18]
Ty
Your first property that you're house hacking. And we don't know we can get a loan and a car yet.
- [28:23]
Brody Fawcett
Yeah, there's no. I just thought you have to pay for it. And that's exactly what I thought too. I think this house was like, I don't know, 165 grand. It's probably worth 500 grand right now. But I was thinking you have to go pay cash for it. I'm like, mom, you've seen my bank account. Mom, I don't have $160,000 cash. And so learned a lot about that and how the bank actually gives you a loan. And the reason they give you a loan is because there's something in it for them, and that's called interest. So they're making money by loaning you money. And if you can figure out a way to make money on top of the interest that they're paying you, then you're using other people's money to make money. And so all that kind of started clicking, but especially as I was working this job and feeling like I had no time, I'd get this paycheck from my Gold's gym job, and then I get this leftover cash flow from all my friends paying rent. And I'd look at the 2 in. One was taking so much of my time, and I felt like I was grinding and hating life while I was doing it. And the other one just came in, and they were about the same. And that's when everything clicked. It was like, dude, I want more of this income because it didn't tie me down on my time. How do I go replicate this process? And what would it look like if I did that? I have this one now, and I understand it now. Can I do it again and again and again? And how would I do that? And so that's when I really dove into real estate investing and becoming educated and learning all I could about it, because I was addicted to, like, this form of building more freedom in my life. And then the other thing that's important to note is the money that goes into the investments. Right. I talk a lot about cash on cash return, which is, simply put, every dollar that you invest, how quick does that dollar come back? To you, if somebody invests a hundred dollars and the first year they make $100 after all their expenses, then their cash flow is 100%. Right. They make $50 on their hundred dollars. It's 50% cash on cash return. And so understanding like, hey, what are the strategies of no and low money down investing? How can I go buy a property that's going to cost me the least amount of money but still yield like a high cash flow? And obviously the higher the amount that comes out and the lower the amount that goes in, the higher my return is going to be in the corner quicker I'm able to utilize the money that I have to build more freedom in my life. And so just diving into that and understanding what are the ways that you can do this and build this. And so now I have what I call the passive six figure game plan. And it's like six steps that I used for like no and low money down investing to build six figures of passive income through real estate. Right. So anyhow, that's a lot to kind of unpack, but that was cool.
- [31:10]
Ty
Yeah, there's a couple things I picked up right off the bat and then I actually do want to definitely have you plug where people can get your, your path to six figure passive income. I don't know if you have it somewhere people can purchase that or.
- [31:27]
Brody Fawcett
Yeah, I think if. I don't know why. But Brody Fawcett.com like they can download that. Don't ask me why it's linked to my name but. But it is. But yeah, they can go there or I think realestateinvestingschool.com too. There's no catch. It's free. Whatever. It's just a downloadable PDF so they can go check it out.
- [31:47]
Ty
Oh, that's awesome. I think something I just took away and I realized this was kind of how I started as well. I love that you didn't know how loans work. You didn't know how anything worked. But you were willing to say like, hey, mom said it was good, we can figure out a way to buy the house. Numbers make sense and maybe the first one is a little bit of luck, but it opened your eyes to, hey, this is a whole world of game I can play. And I love that you said, after that I got super educated. Then I poured into it. Then I found out, hey, how do I execute on this at the next level? And I think that's the missing piece. So many people it's like, let me read every book in the library first. And I know When I did my first deal, I had read a lot of books, but I'd never gone through the appraisal process. I'd never negotiated with the seller, I've never dealt with the agents. I'd never gone and made sure that the price per square foot and how the loans cleared as a 1099 versus W2 and what I needed to bring to closing. And it ended up working. Luckily, like, my first deal worked out. We're kind of same. It was a house hack that I cash flowed, written out to college buddies. But I just think if people would be willing to start, just move the needle and it takes a lot of discipline and intent to just say, hey, we're going to go try a house hack. We're going to go buy our first rental for you. Obviously this is what you do for a living, is take people through their first deal. What is kind of like, I know there's a lot of things that go into it, but just for the sake of time, I know we both got cuts. It's just for somebody that's looking to get into their first deal stand whether no matter where they're at, they own a home, renting, what's that first thing that they kind of can do to bridge that gap to start investing in real estate.
- [33:34]
Brody Fawcett
Yeah, man, great question, because I agree with you and this goes for anything in life, but it's more about the mindset than it is the skill set, right? Like the skill set of knowing all the answers, knowing how to do it, like, feeling like it has to be perfect and refined. It's more about the mindset of, like, I'll be successful no matter what. I will find a way to make this, make this happen and get this done. And I think, like, I've proven that over all of the different deals that I've done. And sometimes like I went through a stage, like, I'm going to make it a point. Like someone said, oh, I don't have credit, right? So I'll go and buy a house where I don't have to have any credit. Oh, I don't have any cash. Go buy a house, you don't have to have any cash, right? Multiple things like that again and again and again to where, like, it just. There's so many ways, if you have the right mindset to go get a deal done and go build, you know, financial freedom and financial time freedom for your family and for your life for the rest of your life without having to have a ton of, you know, quote unquote skills and so with that being said, like, I think the, the easiest thing and the least expensive thing is you can dive into, to education. Like, there's so many books out there. You can buy a book for 10, you know, 10 bucks and get so much knowledge out of it. There's so many podcasts out there, right? They're free. Like, this is. This is one of those podcasts. Like, diving into that. It's. It's free. Like, you can constantly be listening to stuff and going through it and learning and diving into it. Like, YouTube's free, right? Um, just. There's so, so many Instagram, right? That's my. My entire Instagram is like, how can I add value to people that are getting started? There's so much to learn.
- [35:16]
Ty
For anybody listening, there's a ton of value in his Instagram. I'm always checking out his stuff. He's going through his deals. And I've been following closely on the Maui deal. That one's so sick. Brody recently purchased a home in Maui and he's done a lot of creative investing over the years. But I think my favorite thing about what you do and when you break down deals is you increase your lifestyle, you increase your freedom, but you're not increasing your stress and strapped. You're doing it from a place of. It's paid for, by the way that you're doing it. You're making sure that it's covering itself and it's not stretching you. And I think that's where people get so stuck. And that's probably my favorite thing about your strategy. And just, it's not just when it's. There's such a huge purpose to your family, right? A vacation home that pays for itself. Like, how cool is that to be able to do that type of stuff?
- [36:10]
Brody Fawcett
For sure, man. Yeah, for sure. And that's how like the tiny home resort I'm building right now, right? Like, it's legit. It. Cash flow is a ton of money, right? Or it's going to be finished a couple months. But it's also a place where I can do family reunions if I want to. I can take my family up on a whim. We can go just block off one of the cabins and stay there. And so it creates like, once again, goes back to this lifestyle form of investing where it goes through the lifestyle filter first versus I'm investing to invest, and then from there I'll figure out my lifestyle portion of it, right? And like one of the. I think this was probably like the third property ever bought was an airbnb it was this condo that I got for 38 grand. And it was. I loved it, dude. Cause I always wanted to have a cabin. That was something I wrote down for so long. And it was like my stepping stone to having a cabin. It was right by the ski lift, and I got a good deal on it for sure. And anyhow, Airbnb it, but, like, it was, like, so cool for me. Cause it was like this lifestyle step to where, dude, this is an investment. I'm making a lot of money on this. It rented for around 5,000 bucks a month, but at the same time, I can block it off and go experience this with my family whenever I want to. Or I can. People would get married, and we'll send them, like, a voucher, hey, go stay at our condo, whatever it is. But it was like this form of, like, cool. I want to be that guy. I want to create those. Experience those memories. That's the lifestyle I'm designing. And then this investment checks both those boxes.
- [37:43]
Ty
I love it. Well, Brody, I know we've got a hard cut, so I just got two questions I want to finish up with you and get your. Your thoughts on. I know a lot of people who are coming to me right now. There's a ton of cash in the market, more than ever, due to our amazing fed. But a lot of people are looking at increasing prices, increasing interest rates. And I love that you just said, I made it a goal to, you know, buy a house without credit, buy without cash. I think there's. There's always a reason. People right now saying, I'm going to wait. I'm waiting for this. I'm waiting for that. What's your advice to somebody in the current market that's saying, I'm going to wait?
- [38:25]
Brody Fawcett
Great question. This comes this product, the most popular question I get asked. And once again, it goes back to that. That mindset. Like, usually that's a mindset. And usually people with that form of mindset saying, hey, I'm gonna wait, I'm gonna wait, I'm gonna wait. They're always gonna have that mindset of, I'm gonna wait, I'm gonna wait, I'm gonna wait. And it's the same. It was the same exact thing, you know, six months ago, a year ago, right? Like, oh, the market's really high right now. I'm not. I'm not gonna buy. I'm not gonna buy. And we put a property under contract a couple weeks or a couple months ago. It's the new build. So we close on It, I don't know, I think next week, two weeks, something like that. But like there's all, all these models the exact same we put under contract. The next day, the same one went under contract for 50 grand more. Two days later after that, 100 grand more. All the exact same models, right? So a lot of people at that time are like, oh, it's a high time to buy. It's a high time to buy, right? And it just keeps going up. So I think that's the first thing is you're never going to time it. The second thing is like, I never invest based on appreciation. That's not my number one strategy. That's the byproduct that happens. Right. But we don't ever know when that's going to happen. Nobody can time the market, Nobody. And so instead of trying to time it and throwing all your eggs in one basket, that's not a good philosophy or good strategy. So with that being said, my advice on that is one like, change your mindset to, I'm going to buy a property now, that's going to be amazing right now in the existing economy. And then it's going to be really, really good. If things were to dip. And instead what most people do is they say, hey, I'm going to go find a good investment right now. And then all of a sudden things dip and it turns into a bad investment. So that's always my strategy with everything. I'm more of a quality versus quantity type guy. I want to make sure that I'm protected. And so it sounds probably like I'm very leveraged from a standpoint of, oh, you're buying this with no cash down, or oh, you're buying this with no credit. I'm actually pretty conservative because the deals that I'm doing, they cash flow really, really well. If I need to cut rent in half, exactly in half, all the expenses are still covered. So I'm being very calculated why I'm doing things. But that's my advice on that is change the mindset and then do quality deals. If you're just doing a deal just to do a deal and it's, you know, your margins are really small, then don't push it. Don't do that right now. Right? Because chances are things are going to, are going to take a dip in the next little bit. But that's not an excuse to stop. It's just an excuse to pay attention to how you go about it.
- [41:04]
Ty
Love it. I think you hit it right on it. Just first off mentality, you Got to change your mentality. There's always somebody who's winning regardless. And then I think that's a huge nugget. I hope people take away as you're going for this, the cash flow, just appreciation is like time in the stock market. If that's how you're playing your game. Like you could get railed especially if you're doing multiple deals at once or your first deal and you're leveraged to get it. Like don't strap yourself to pull off an investment to enhance your lifestyle. And then. Well, Brody, just. This is a selfish question. I'm not going to lie. Having a five month old and going into that fatherhood and you and your wife having a couple kids a few years further down the line than myself, not much. You're still young buck. But as you've become a father and you've been in this route, how has your conversations and your plan, how important is you to help educate your children on and involve them in the process of investing in the money game and what are you doing, you know, and just kind of closing remarks here to make sure that you know, your family is moving with you.
- [42:20]
Brody Fawcett
And that's a good one to end on because that's. That when we talk about lifestyle, like that is my life, right? That's, that's why I do what I do. That's why I build a lifestyle I want to build. It's why I create experiences and memories. It's for the quality of life of my family, of the people around me. And obviously my immediate family is a big part of that. Right? And so I think that, you know, from a, from a standpoint of like what are we teaching them and the mindset things, like it is an intentional thing and it's, and it's hard, like it's so much easier as a parent. And my wife and I have talked about this so many times. It's like, dude, I. It's going to be hard for me not to go buy like a brand new vehicle for my little girl when she turns 16, you know, like, it's really hard. In fact, it's way easier to do that because then you're like, it's not going to break down. I don't have to worry about it. You know, they say whatever, whatever, like you can justify it a million ways. Um, but it's like, yeah, how much is she gonna learn by me going and doing that? You know, and so sometimes, and actually most of the time it's, it's a hard thing to do and A lot of things we work on is like, my little girl says, I can't all the time. I can't do this. I can't do this. And so it's always like this correction of like, no. Like, we don't say that word in our house. We don't say I can't. You know, we just don't say it. Like, you might not be able to do it yet, but it doesn't mean you can't do it, you know, and so it might be hard. It doesn't mean you can't. So all those little things. And my wife's really good at this, correcting those mindset shifts and. And she just knows, like, they watch, they see. Like, my daughter knows that I write my goals down every morning. And so like. Like, she'll come to me, hand me a piece of paper and tell me, like, she wrote down her goals. Or she's like, dad, what are you doing? Are you writing down your goals? And just all of these things. And like, if you ask her what. My wife owns a fitness app, right? And so she's kind of in that space. If you ask her what my wife does, it's like, we don't tell her. Like, when we go. We have an office in our backyard. And we don't. Like, she knows when we go to work, it's, are you going to chase your dreams? That's ingrained in her. We're not going to work. We're going to chase our dreams. And what do you do for work? She knows that my wife empowers women and helps other people to live their best life. And so she says those things, right? And she knows I take her with me. They're very involved on the real estate side of things. And that's something we're doing for our kids when they turn 8, is buying a property for them. But not for. From a standpoint of what most people think. It's from the standpoint of we're teaching them, like, they have to run everything, you know, if they want what comes out of the property. They are in charge of, like, a lot of our rentals right now. We have, like, fruit trees. And I took my daughter with me the other day. Cause we had to go swap out a fridge. And I could have easily hired that out, but it's like, hey, this is good for her to learn. And we drove past it the other day. She's like, hey, Daddy. Like, those are the place. That's the place we. We change the fridge for the. For the people, you know, and she knows, like, like, oh, yeah, we buy houses for other people to live in them. Like, all those things that are ingrained in her. And I look forward to, like, when she understands the financial side of it a little bit more. And she's running it and she's saying, like, okay, like, this money came in. You. You're in charge of paying all these bills. You're in charge of, you know, going over there and mowing the lawn and making sure you uphold your responsibilities on doing those things. And if you can do all that, then there's, you know, there's a reward that comes from it. But you have to do all that, and you have to understand how to create these win win scenarios. Like, you're creating a win for these tenants because you're giving them a place to stay and they're happy to pay rent to you. So it's a win for them, it's a win for you. You know, it's a win for the bank. And just all those things that they start to grasp and start to understand. But I think the before the money, like, comes the mindset because that's gonna. That's gonna be what carries them so far in life. And it is crazy. Like, all of the things that just come up again and again and again. Or someone will tell us something that, like, you know, my daughter said at school, and it's just things that she'll hear, like my wife say or I say, or she knows that we work out every morning she goes out to the garage and she like, it's like, I got to get my workout in. Like, she'll wake up sometimes first thing in the morning and she'll go to the garage and she's learning that because of what we're doing more than what.
- [46:20]
Ty
We'Re saying, dude, so much good stuff. And I definitely am going to have to pick your brain offline about some of the ways that you guys are setting that up. I'd love to hear some of your thoughts, just because that's something I've listened to Dave Allred talk about what he's done with his kids and just I think that is such a cool way to grow up in such a. And I think as years go on, it's going to be so much more important. The financial literacy level needed for our generation and our kids generation just from the expense. The consumerism that takes place in our world is so much greater. If you don't have the discipline, understand the budgets, don't understand the finances. This isn't 1940, you have one home, one car, and no other bills. Right. There's a lot of complexity in the basic life of a consumer today, but, dude, mad props. You're freaking killing it. It's. It's been fun to watch your journey. I'm stoked to see where it goes. And for everybody listening, you definitely need to follow Brody, Brody Fawcett and then at the real Real estate investing school as well, on Instagram. Is there anywhere else that people can touch base with what you're doing and maybe partner up with you and participate in your programs? Where can people go to get information about your programs?
- [47:38]
Brody Fawcett
Yeah, man. Just. I mean, I think Instagram's a good place. Our website's a good place. If somebody, you know, wants some help, there's a. On our website, if they want to go and book a call, they can. I usually don't take those, but we have, like, an awesome. An awesome team. But, yeah, we will do, like, a free consultation to help somebody figure out where they want to go with real estate or where they're at, even if they're just getting started or trying to scale. But that's the goal, right? Is to help. Help people build passive income so they can actively live their dream lifestyle.
- [48:10]
Ty
Love it. Brody, you've dropped a ton of good stuff for us. Super grateful for you, man. Definitely will touch base offline. Appreciate you. I know you got to get going here, but for everybody listening, take notes, listen to this over and over again, Adjust the mindset, get clarity, and go follow Brody to get some super technical stuff on how you can go execute in real estate in your life. We'll catch you guys next time on the Money Game.
- [48:35]
Unknown
You've been listening to the money game.
- [48:37]
Brody Fawcett
But we all love money, helping you.
- [48:39]
Unknown
Level up and take control.
- [48:41]
Brody Fawcett
It's a lot of money, baby.
- [48:44]
Unknown
Make sure to, like, rate and review, and we'll be back soon, but in the meantime, hit us up on social media.
- [48:52]
Brody Fawcett
Real money.
- [48:53]
Ty
Real money.
- [48:53]
Brody Fawcett
Money is the answer.
- [48:55]
Unknown
Y' all be cool, and we'll see you next time on the Money Game.
- [48:59]
Ty
Money, Money. Yes.
- [49:09]
Brody Fawcett
It.