 I don't see the inventory thing working itself out anytime soon and if people do call you it's a fraction of the people that would have called you if you would have. Ladies and gentlemen make some noise for Ricky Karoo. He is an investor, a speaker and soon to be remembered in my opinion as a legend in the industry. And that has nothing to do with what a company can do for you. What's that process? What's your team look like? What's your process look like? You know and it's like I'll be fine, you'll be fine, you know. How in the world just like how does this just happen? How's $500,000 people say they're that unhappy? I don't get it. Yeah maybe they're locked in but it's like pros and cons. There's no system that's going to be perfect. It's a much better system right where buyers get representation not out of their pocket. You know there's a home buyer. I don't think that they conspired. It's like wait a minute isn't the whole case about a conspiracy between the defendants? Buy your first home. You don't know anything. You don't know anything if you're not in real estate on your fifth home. Ladies and gentlemen the one and only Ricky Karoo in the house. What's up bro? How you doing? Good man, how you doing? Good. It's funny so Ricky I was thinking if you remember this, maybe you do. We met a while ago. You did the 4D dive and you're just kind of getting some momentum on your Instagram and I remember we somehow found each other on Instagram and I talked to you and you're like yeah dude my goal is to be like one of the best real estate coaches in the game and a lot of people are probably like oh I think that's going to happen dude. He's not going to take out Tom Fair and all these guys. Well now we're at 2023 guys almost 24. I think all you guys the haters you're wrong because Ricky's up there man. Yeah it's been interesting journey. Yeah it's been interesting. As you try to do something like that watching all the people that just think you're full of shit. You know but like that's been the story of my life. When I was a freshman I was like I'm going to play football and everybody laughed at me for that. It was fucking all county my senior year. I had a full paid scholarship. I got a real estate and everybody laughed. Yeah I was 20. Everybody thought I was too young and stuff or whatever you know or definitely didn't come from like the genetic makeup to make you know make a good like political figure slash you know real estate agent salesperson. It's been the story of my life man like doing things that I'm not supposed to do or whatever you know. So I mean when I started coaching and everybody talked shit. There's so many people here locally talk so much smack about what I was doing. I had a dude follow me around like Gary Vee and doing the little docuseries of you know my daily life and stuff. People thought that was you know garbage. People were like who the hell does he think he is. Not to me. Not to my face. Some of the people did some stuff to my face but it's nothing new bro. That's like that's been that's been my whole life is people down to me and stuff. So yeah I love it. Well congrats. It's been fun to watch. So I want to have you on today because obviously there's a lot of stuff going on as you know. I think kind of just before we get into it real quick like what have you been up to these days. I know I know you're not really selling. I know you're coaching us up but what's really got your attention these days you're excited about. Just trying to create better content honestly. You know content is what really drives like the size of your brand you know like a lot of people will post a lot and don't really get a lot of traction which that was kind of me for a while and they're like you know like they'll hire a company thinking that that's going to be the thing or like I'll see emails from these social media from like YouTube. They're like let's really crank your YouTube up or whatever and stuff and I'm just thinking about all the people that they actually take advantage of that want to go big on YouTube or Instagram or whatever and this company's out there saying we can make that happen for you. We can make you big. We can whatever and like no company can do that for you at all right. The whole thing comes down to perfecting your craft around creating content that people actually want to watch. That's all it is. If people will watch your content you know like the watch time on your content on your reels and your YouTube's and everything else that's what drives the algorithm. Dude that's like the one algorithmic driver is watch time I think. 100% that's what all the that's what YouTube and all them like right. They love when you have more watch time. If you can get people to watch longer of your videos because it's actually good content and that has nothing to do with what a company can do for you right. It's about you you know and the way you articulate your message in a way that captivates people to keep them engaged throughout the video and it's just a skill that you have to develop over time. So what I've been focused on is just developing that skill. I'm trying to create content that people want to watch. I'm trying to learn that entire game to where you know I just grow organically. I don't really run ads or anything. It's just all organic and I'm just trying to learn that. What's that process look like? What's that process? What's your team look like? What's your process look like? It's just me. I've got some editors that do the reels. They're in India and you know I've been with them for a long time and you know they make stuff that's s*** and they make stuff that's great you know. I don't post everything that they make and you know YouTube I've got a guy in the Philippines that edits maybe 30% of the videos like if you see a YouTube with words running across it I didn't do that. If you see like a breaking news video of just me talking head with a couple cuts back and forth between a screen share and an article I filmed and edited that more than likely that day. I remember by the way to jump in I remember when I first met you you're filming editing doing it at all posting you're applying everybody like just so you guys know like Ricky was like the real deal doing it all and selling a hundred homes so if you're like I don't have time for this s*** you just all you're it's bull s*** get up earlier stay up late they're doing it at all every DM every text like I just typed out an email literally like it's funny that we're talking about this this email that I literally just sent out it says believe it or not I still sit down myself and not only think about what I'm gonna make my weekly email about but also to create it just as I do every one of these emails you're reading right now along with every text DM post etc I do all this myself why because what people read within your content is how they associate you and I want everyone to know the true authentic raw Ricky this is how you need to think when you are creating I literally like 15 minutes before we just hopped on wrote that out and sent it out to you know a couple hundred thousand agents um yeah because you're on Neil you're on Neil's mastermind yesterday and uh I knew you had an email game and I know that works I know works like Ryan Serhan and a lot of other people and the agents just don't do it and I loved how you called somebody out because I write I do three emails of law like a brief and stuff and it's mine and I realized when I started doing mine people can tell and you said if you're just sending out this generic crap that gets sent out like what are you doing like you know like it people can tell yeah well people that it's called lady being lazy um in my opinion you know if you hire a company to just do generic content for you on your socials or emails or whatever and it's just so generic it's just nobody's reading it nobody's calling you and if people do call you it's a fraction of the people that would have called you if you would have spent the time people spell value t i m e and they can tell if you've spent time and when they can tell you spent time they feel like it's valuable and they appreciate it um and then you've got the people that actually spend the time to create generic content too which I find very fascinating that they actually spent the time to actually cultivate and create this content that's very generic and they could have spent the same time actually creating something original and giving some context to their opinions on stuff and they wasted that time to create something that looks just as generic as some of the what some of the companies will make for you we just got to get away from that if you really want to stand out yeah I agree um what's your uh what's your two cents on the market I know you kind of said I mentioned yesterday um what's your kind of outlook for you know now in 2024 well depends on rates um you know kind of what happens the lower we go the more activity we're going to have and the higher it goes the less activity we're going to have um you can't help but think that rates are going to come down next year but you never know you just never know um we had a good inflation report I think this week so that was encouraging um but you know there's still some tell wins happening in the economy you know um credit card debt just hit a trillion um you know people are running out of money they ran out of stimulus they now they're running out of credit cards credit card interest rates are like 20 percent you know there's some problems um you know and it's like I'll be fine you'll be fine you know people that are you know at the top of the food chain will be fine but if all the people at the bottom of the food chain aren't fine then the whole thing collapses so um so there's some worry about you know the short term of it but as far as home prices go we're going to be just fine you know there's not going to be any force selling what four out of five homes are under five percent interest rate or something like that oh yeah yeah you know 45 percent of homes are own free and clear in the US insane yeah yeah I mean there's going to be no force selling um rents seem to be cooling off coming down the tad um you know it's all local so different markets are performing differently but that kind of plays into it but if you don't see a crash in rents then that's going to be fine um it can afford to come down a tad 10 15 percent because the whole thing is is if somebody's sitting on three and a half four and a half percent interest rates on their house and they have to move they can just rent their house out if rents don't crash you know then that market continues to keep inventory low and um you know the investors you know want to buy it's just I don't see the inventory thing working itself out anytime soon um you know hard to yeah long tell of that now when rates do come down a bit which the uh nar says will be between six and seven at some point next year which will be I think that'll create like a freaking tsunami of activity I think we'll see active listings go from bad to worse and we'll see number of transactions skyrocket because we're going to have the trade up sellers sell and buy you know taking you know creating two transactions but a net even for active listings and then first time home buyers come in and flood the market which they it went from 26 percent first time home buyers last year to 32 percent this year it's well below the average of 36 percent since 1981 but it's increasing it's going to continue to increase and if we get some relief on mortgage rates those first time home buyers are just going to flood the market and really crush what inventory we have left so it's going to be interesting I think we're going to see like a mini 2021 where we have like a lot of transactions and really good you know strong market um I don't know if we'll see the price increase that we saw in 2021 though right so I think we'll see less of an increase still an increase a lot of a lot of transactions it's just going to be I think 2024 is going to be a really really really great rebound year for for housing in terms of transactions for sure but like I say it all depends on rates you know I'm here for whatever happens I just talking on the zoom yesterday um about like every once in a while I get the itch to hop back in the game and you can definitely make some calls and get some listings and stuff but at the end of the day I like what I'm doing traveling speaking you know getting better content trying to build community you know so yeah you're doing a good job what I mean in the in the mortgage world over here I think I don't know the peak I think um housing market wire put out an article the peak might have been 400,000 LLOs in 2021 they're saying maybe by re-enter 2025 there'll be 60 to 80,000 left say that again so I think the peak about loan officers when the refi boom is here you know everybody was employed to the neck there's around 400,000 loan officers their housing wire came out with an article saying by the end of 2024 or because the high rate there might be 60 80,000 loan officers left so 400 down to 60 yeah that's kind of that I mean that that's kind of like saying that because of the lawsuits with uh commissions that the agents are going to go from 2 million to 500,000 it's like that's a very you know far cry I think I just I don't see it going from 400 to 60,000 right that's a very clicky clickbaity article if yes and I love housing wire uh they're actually one of my favorites uh Logan's yeah I love Logan yeah um I like you already lost about 50% though or more so it's went down from 400 to 200 so far I think even maybe low or 800 to 400 no I think it went like it might have me down 50 60 yeah we'll know soon who re-news their license here coming up so it's now it's maybe could be a hundred could be a hundred a little bit well it's gonna have to right a mortgage is a different world that I was think I realized this a long time ago that in the mortgage world it's so different than the real estate agent world you know with agents deals happen every day no matter what right you got cash deals you got um you know you got buyers and sellers you're working with on the on the mortgage side you know like everybody could say I'm not gonna get a loan you know and I'm gonna use the builders you know lender because they're doing this and I'm gonna pay cash or lend the the mortgage market is far more fragile than being a real estate agent yeah because you could be a high-end real estate agent in New York and everybody just pays cash right you don't even need a loan officer yeah I mean and a lot of those guys have huge lines of credit and you know the big wealthier luxury home buyers and stuff but yeah no the mortgage industry as a whole especially for loan officers is just a much more fragile volatile market in my opinion than you know real estate real estate agents is like you can't really bring them down once you understand the flow of the cycles of the the the market it's hard to really take you out more mortgage lenders on the other hand they're a little more easier to take out you know the market the markets a little bit more they're a little bit more fragile when it comes to the market yeah because some shops to refi shops right there's there's only eight that's down 85 percent you could be out of business right if you don't purchase though you're right yeah so it's a different there's we we know the difference see that that that makes my point right so there's a market there that's down 85 percent you know there's not really a market in for real estate agents that's down 85 percent yeah yeah it's like a money rush so I've been actually uh you mentioned consuming your content I started watching your youtube videos because I was like oh I know Ricky I trust Ricky you know you know what's going on and I started watching your commission lawsuit stuff because I was like I mean there's so much bullcrap about it too right like all this I was kind of laughing so I loved your uh reholstering you're doing the guy with the glasses honestly I was kind of that was pretty funny that was like I was like at the first time I was like what's Ricky doing then when he came in I was like I lost a lot that was pretty good that was like stand-up comedy like that was yeah that was that was pretty bomb that was like one of your best for sure like I was like if that guy watches it it's like you've got to kind of laugh but so there's all this talk about the commission lawsuit you know now you have because it's so much out there I have clients call on me good you know about it and I said honestly like I don't what do you want me to tell you this is I feel like it's just a bunch of drama um and I said nobody knows how oh it's not even over right so what what is what's your take on it um I know you have lots of opinions but what do you really think is going on and how in the world just like how does this just happen how's 500 000 people say they're that unhappy I don't get it it's just a money grab um it's just yeah it's just your classic class action let's see if we can make some money here kind of thing it's like when you hear about anything a lot of people they'll hear something you know about a class action they can get in on and they can make all this money or whatever um the lawyer is very good at what he does uh Michael Ketchumart the lawyer the plaintiffs his job is to make money is to is to his job is to take situations and yeah I mean a good work for it is manipulate them into um a storyline that benefit the plaintiffs and his law firm and what a hell of a job I mean that guy really did his job and he smoked the defendants lawyers I mean that's really what happened at the end of the day um and the plaintiff the the jury is just a bunch of you know uh grung old you know home sellers too yeah and so people don't really under they just think oh my god six percent oh it's two percent in the UK you know this is crazy but they don't realize in the UK there's so many lawsuits of buyers who get screwed over because they aren't disclosed that the foundation's messed up or you know they got taken advantage of on price right because they can't afford their own representation it's kind of like here in the US we have 30 year fix but they don't have it in a lot of countries well those other countries and like some of the youtube gurus are like that's the problem with the US we have the 30 year fix and that's why inventory is low that's why prices are going up but it's like over there in these other countries where there aren't 30 year fixed they're like an arm adjustable rates and stuff well those people's mortgage payments are like doubling right oh yeah they're getting kicked out of their homes and guess what prices are still extreme our weight are higher than the US okay they're higher than the US or neighbor Canada our neighbor Canada has mainly adjustable rates yeah they're they're higher than the US so so that isn't the so 30 year fixed isn't the problem why prices are high number one if you want to blame it just look at the countries that don't have it it's not the problem and I would rather a system where we don't have people getting kicked out of their homes right I mean yeah that maybe they're locked in but it's like pros and cons you're gonna there's not no system's gonna be perfect you know would you rather them have a house or have a double the the mortgage payment overnight in five years same thing with this you know okay we can go to an overseas type business model when it comes to real estate agents but look but think about the pros and cons of what we have it's a much better system right where buyers get representation not out of their pocket you know there's a home buyer suit now where the home buyers are now saying that you know that they're that they you know they're mad that they didn't get to negotiate their commission or whatever and it's like wait a minute buyers like you want it to be where you have to come out of your pocket for this right you want to come out of your pocket for it instead of it being figured in you know you know I don't know where they're going with that right and we'll just have to wait and see there's like nine or ten lawsuits right now especially since the sits are Burnett got the verdict came out a bunch more popped up different states and stuff and the judge hasn't even ruled on this sits are Burnett which that'll tell us a lot right there about how this is going to go but agents have kind of become public enemy number one but in the meanwhile okay well everybody talks smack about agents 90 percent of buyers and sellers use an agent by choice yeah I don't it's like they don't they don't have to use an agent they can just go straight to the listing agent now and and bypass all this and they can negotiate the I've had buyers I've had buyers negotiate their commission with me I've had every seller just about as negotiated their commission with me you know and when I did deals we're just kind of sitting here waiting to see what the judge is going to say about this you see if he's going to give an injunction or if he's going to create some rule that we have to go by until this is a pilled out of court and up to the supreme justice and stuff like that so it's interesting man for there's a there's a couple different ways I look at it for one well first off what I think is going to happen I think it's going to get appealed up to the supreme court and then we'll see what happens it doesn't sound like the higher ups like the doj and you know it doesn't sound like the department of justice and we are wherever we go to in the supreme court or whatever is going to be on our side it doesn't it doesn't I'm not getting the feeling that we're going to get a lot of love when it comes to comes to this and it's unfortunate because I don't I just really don't think that they understand what's going on here it's a lawyer that's going to make a billion dollars while the homeowners get a couple thousand a piece what's so funny how is this the same thing that he's suing us for us I say us is in the national association realtors and all the brokerages and now even exp is in on this next lawsuit he filed so what's so funny is is like it's so ironic because the thing that he's suing us for he's literally doing the same thing that he's suing us for while he's suing us it's insane it's it I'm telling you this is that's how good this lawyer is he's literally doing the same thing right in front of our face that he's accusing us of doing while he's accusing us of doing it it's insane so the homeowners who are disgruntled because you know they had to pay the buyer agent a fee this this buyer agent that brought the buyer that paid it's like they were happy with what they netted right it's like it's like you were happy with your net with your bottom line that's when you did this and now you're not if you aren't happy with the net negotiate up some more to get the net that you want who cares what happens on top of that and if we can't make it work we can't make it work I mean this is what you want mr seller um and so and look in those deals the sellers made way more than the agents right when they when they sold those properties or whatever the case may be in the case so if they're disgruntled in that situation how are they not disgruntled when this lawyer walks away with a billion dollars and they get two thousand or fifteen hundred bucks how are they walking away from the table saying yes you know but that's the exact same thing that you're mad at us for you're given this lawyer the same thing and he didn't negotiate his fee I can guarantee you and that's what's so crazy is that the lawyers they actually have the in my opinion the whole lawyer thing is the racket it's got the all the antitrust stuff in there right and the crazy thing is is they can't sue each other because it's part of their uh you know packed when they become a lawyer that they can't sue each other so like they're sitting on the biggest monopoly running the entire show from the legal side from the courts right and you they don't negotiate they're getting the biggest part of the pie and you can't sue them it's it's it's it's so crazy how this thing is kind of playing out but the but the but the but the from the public's point of view you know they just view us as monsters like y'all don't do nothing you just open doors we can find the properties on our own on Zillow what do we need you for um why am I why are you getting two or three percent you know and it's like wait a minute what about all this other stuff that I do and by the way you don't have to you go go go go represent yourself now so 90% of buyers and sellers right now use real estate agents and 90% of those who use agents say that they would recommend their agent to somebody else so while the whole general public's talking smack about agents people you know when they need to buy or sell something 90% of them we're the first person they call to help them through the transaction they're happy as can be through the transaction enough to say I'll recommend this agent to other friends and family who may buy or sell and then years later or even even the plaintiff when he went on stand he said that he was happy with his agent he was happy with the deal he was happy with everything and then um and then the lawyer Michael Kuchmark even said hey do you think remax conspired with the other defendants to to to to to take money out of your pocket and he said no I don't think that they conspired it's like wait a minute isn't the whole case about a conspiracy between the defendants you know to to conspire to inflate commissions and the lawyer of the plaintiffs just asked the plaintiff if he thought they conspired and he said no then you got the lady whose mom was an agent who was on the stand who's part of the lawsuit one of the plaintiffs you know she's like I bought you know I've sold four houses and bought five you know it's like well you didn't pay a commission when you bought the houses you paid it when you sold it so you're up one you bought five you sold four she's like well if I can do something to help my kids they're coming into their the years of where they're gonna buy and sell homes if I can help them I'll help them it's like what you're doing is putting them in a situation where now they're gonna have to pay out of the pocket if we had if we had it your way they would have to pay out of their pocket for representation when they buy their first home yeah if you buy your first home you don't know anything you don't know anything if you're not in real estate on your on your fifth home right you may know exactly a little bit you may you may understand the process but every deal is different it has twists and turns and stuff and that's that's what you need an agent for to make sure you're you know moving through those twists and turns best as possible but uh it's crazy kids I'm gonna help them it's like you're not helping them you're hurting them they're gonna have to come out of pocket and if they can't afford a representation then um then they're gonna have to represent themselves because of what you're doing and if they get screwed on the deal because they don't know what they're doing and they can't afford representation then that's your fault ma'am so it just keeps on going I think it could go to a supreme court and get thrown out it's gonna take years for the appeal if if it goes to supreme court and gets thrown out and and nar wins then they could literally block all the future lawsuits and this thing could be just over and and put to bed uh I think what could happen is is that we now will go out and have to disclose more clearly to the sellers and buyers that you know the seller can pay the buyer agent fee or he doesn't have to everything's negotiable right he can offer zero on mls now so I think all that's going to come to light where agents have to disclose that and explain it to every single client with 100 clarity with a signature and um and then we'll truly sit back and let the market dictate how how the how the industry will operate from that point and I and I and I'm to the belief at this point that nothing's going to change yeah I mean especially if you take up you know you know this the first time home buyer they put they usually have their down payment a little bit reserves they don't have extra money to pay a commission listen man if builders did not have to pay a buyer agent commission trust me they would not be doing it okay if builders could get away from paying the buyer if they could get away from anything they can get away from cost wise they're gonna do it okay that that builders are a great example of what the market is the good point right if builders could get out of the buyer agent commission they would why do they do it why do they offer it because there's a lot of value in having this massive group of local agents you know trying to help you sell your product you know now from seller to seller you'll definitely have sellers who don't understand the value and they're going to put zero in that column well you know what they're going to find out it's going to be real tough to sell when you don't have any you know what that's called when you put zero for the buyer agent commission another or something it's called it's it's called a pocket listing it's called a for sale by yeah right for sale by owners or like bring me a buyer for three I'll give you three percent if you're bring me a buyer right or a pocket listing it's like I don't want to list it but if you find a buyer I'll pay you three percent or whatever right you're literally a pocket listing you're for that agent that has it listed right or you're for sale by owner on MLS that's all you are at that point you're nothing else you've hired an agent to find the buyer that's it you didn't hire all the agents in the area to find the buyer you just hired that one agent and so now you've got one agent instead of having this massive sea of agents trying to help you sell that property and you know the market's going to speak like you're going to see properties that don't have a buyer agent commission sell a lot slower well that's now you're saying now you're admitting Ricky that that agent steer no I'm it's not steering right so I'm not not saying the agent steer I'm saying that why are they going to go they're they're not going to show a property that's not offering compensation for them to find the buyer of that's not steering right I'm not motivating yeah if the my if the buyer you know finds it on their own online go for it call the listing agent and buy the property you know but you're not going to get the best representation right it's kind of funny I thought I get saying I'm gonna if they're not paying anything why am I going to try to sell this house and I thought too in the real estate world I mean not I don't carry the way but I thought I hear people frown upon dual agents when you're a dual agent they're like oh you should have a position besides almost like you're pushing to have dual agent you're like they're pushing like yeah they're pushing to do away with you know having buyers agents and stuff and you know they want to move towards more of a dual agent it's the craziest thing ever man like everything that they're wanting us to go to contradicts everything they've told us that they didn't want you know likely over the years so I'm telling you it's a money grab and the lawyer has everyone fooled like the judge is full I mean this is my opinion you know the DOJ is full the the the the the general public buyers and sellers you know and listen if you're listening to this and you're a buyer seller you're saying oh my god this guy is just go sell your house on your own go buy a house on your own like I'm not telling you to use an agent I'm telling you not to use an agent if that's what you want why are you why are you using agents now you know I mean it it it's like I'm gonna have a roof a roof my house and I'm gonna complain about the price okay same thing you hire an agent to sell your house you complain about the price well I can't change the price see and a lot of this complaining I think too comes from w2 employees who don't understand when I get a $30,000 check I don't get $30,000 you know when they get a check they get to spend all the money in that check as taxes are taken out before they get the money I run a business it's an independent contractor I get a 1099 so now I have to pay taxes and business expenses that you don't have to pay and you don't know what those expenses are right it's ridiculous to cost to be a real estate agent to run your own business it's ridiculous you know I don't want to check that into consideration they just want to say you made 30,000 no I didn't not after uncle Sam gets his and my broker gets theirs and my assistant gets hers and all the other business expenses that go into marketing and everything that that happened in my world to keep my business going that's why you don't see agents going too far below 3% because anything below that gets you get to where you're you're losing money yeah I've you heard that like the $3 thing where they put $3 on the table have you heard that um some when some guy went to sell property I forgot what this guy goes and like you know can we negotiate sure he pulls out $3 he puts one dollar bill she had $3 in a row yeah and he goes okay cool what do you want he goes with 2% so he takes a dollar puts it over here they go what's that he goes well there's your marketing budget well what's the two left well that's for my team and that's for me now you want to pay with 1% and cool you just took away my team so basically I've left it's just me I can't market and my team can't help you work on this you sure you want to go to 2 or 1 it's kind of a smart thing but that's what people all get that is the reality of real estate and that and and that's why when when the lawyer was up there talking about that you know agents don't negotiate down and all this stuff they can't I'm sorry general public right I'm sorry it's that's a fact right it's like it's like when you roof someone's house they've got the labor that they have to pay for the materials they have to pay for and then their profit okay you guys act like our commission is all straight profit and like we can just wiggle that around and still we'll be okay if we take 1% it's like no no we won't because we can't even buy the materials and the labor for the crew to to roof the house yeah or that much less make a profit out of it so that's when you but that's when you start to become unprofitable when you start to you know the further you get away from 3% the less profitable you are and and when you get down into the you know I don't know what what percentage you actually break even and start losing money but it's up in the twos okay so I just don't think people really understand the whole process and everything from the inside out and and here's the thing the market is going to tell them right the market's going to prove to them because for you when agents don't do a deal because it's you know sellers want to do 1% or 2% and agents just walk away from those deals your the owners and the buyers are going to find out real quick how valuable an agent is and be happy to pay 3% I mean that's just what it is yeah because what you're showing to the general public is number one is you're already unrealistic right with what you're doing you're also showing to the general public that I don't even know what I'm doing because that's not that's not what you if you're serious about selling your house that's not the approach you take and the second thing is people are kind of like you're probably a pain in the ass to deal with because the way you're dealing with this and it's like why don't I just go and show my clients all the other houses to go look we can take an offer but this guy's at a reasonable already let's just move on to the 10 other houses they seem like they're ready to sell they're serious yeah I don't know that's how I'd look at it yeah it just depends what's um I wanted to jump into I know you're investing in real estate a lot of the podcast people on here real estate investors um what's your are you raising money you buying your own stuff I know I've heard different things you talk about so I don't exactly what you're up to these days with investing yeah um you know we got into trying to syndicate some apartments about the time interest rates started coming up so we haven't done anything there we've just been kind of learning the business um I'm closing on three acres to build 46 units uh at the end of the year so that's pretty exciting uh nice all that's together investment group to uh to tackle that one I bought a bunch of new construction homes dr horton homes here lately and you know I bought a couple of existing homes and stuff I um I moved I bought an office space a smaller one and moved into it and ran it out the one that I was in that's big that nobody uses um so just making some moves man rearranging some stuff trying to increase the uh the monthly cash flow of everything and just kind of keep building you know um I'm just having you like the multi-family what's up you like the multi-family stuff yeah I do um I've got a bunch of duplexes and four plexes a single family and commercial small commercial buildings and stuff and uh just do fantastic with this especially with the way rent has gone and you know and and appreciation and everything it's like you know um but this project of 46 apartments it'll be my first that'll be my biggest you know deal so far and it's kind of it's a it's like my biggest deal but it's a small deal in the whole scheme of things 46 units is a small deal um but I'm going to develop it I'm going to build them it's like two three miles from my house it's really close close to the beach yeah they're building a new school here it's uh it's just a really good you know setup so yeah um how do you find your deals how does Ricky find deals I mean it's kind of a general statement but you know I work I know a lot of investors here we invest like what's your investment of fine eating deals I'm looking for deals yeah I don't really like beat the bushes I'll just kind of like I'm just busy creating content and then like something'll just come across my desk right um I've got I've got two guys we flip houses and we buy them at the courthouse steps so we watch the courthouse step foreclosure auctions coming up every week and kind of see if we want to buy something or bid on something we'll buy it like the last existing home I bought was a two-bedroom you know kind of older home um kind of older home and um it uh it's two bedroom big backyard fence backyard and we bought it to flip it and when it came time to flip it I was like and I have two duplexes right around the corner and I was like I'm gonna buy you guys out of this and then one of my other partners of the three he was like I'm gonna go in with you so we bought the other guy out and just kept it and rented it um we bought him out for 195 and rented it out immediately for 1600 um you know we owned it we we just paid cash so it's just 1600 a month coming in um but that was like a flip we were gonna do that fit my portfolio so we just bought the other guy out it just depends man like the three acres that I'm gonna build the 46 units on one of my buddies listed it I've known him for you know you know shit I've known him for like 15 years and uh and he listed it he knew I was looking for something to build some apartments on and he told me about it and then we just kind of started working on it so it's just stuff that kind of comes to me I don't really have any like clear cut plan you know this is how I go out and find deals and stuff like that you know the d.r. Horton Holmes we bought um let's see who was it I think one of the guys I flip with he was buying one he told me about it I started to run the numbers and I was like damn so I bought five of them yeah the payments are like 1700 and we're renting them out for anywhere from 22 to 2400 a month and those rents will you know the rents are leveling out now but they'll get back to a nice little two to three percent increase a year nothing crazy just a nice little two to three percent increase a year in my opinion you know plus brand new properties too right yeah they're brand new no maintenance for five years you know the builder paid 5000 a closing cost paid for our buy down permanent buy down we got 5.9 on investment property permanent buy downs um so you know it was like man you know let's let's buy you know let's buy a whole fleet of these things and while we're kind of just sitting here bored there was really nothing else that cash flowed like that in the market so I just kind of jumped on a handful of them and you know we got them all rented out and you know we're just kind of let them do their thing so I'm kind of very like patient methodical I'm not pushing anything I'm not like you know let's hurry up I've got so much equity built up in properties that I just own free and clear no no mortgages on I could like leverage that and go buy all kinds of stuff you know but I'm like why you know it's not my life is not going to change at all by you know doubling my portfolio in the next six months you know what what I want to do is like add a property a month like five years and then have like 100 properties and then take another 20 years to pay it all off it'll be a hundred million bucks worth of stuff right because if all that's average if all that averages 500 a piece and it's 100 properties that's 50 mil right and within another 20 years that should pretty conservatively double in price in 20 years right that's probably super conservative for a 20 year run so if those properties go from 500 to a mil I want 100 of them free and clear I've got 100 mil worth of properties probably making several several hundred thousand a month you know sure and just chilling sitting on a gold mine so like that's an easy way for me to like see a path to 100 mil plus net worth and an incredibly you know large passive income for for me that's incredibly large you know and that's like outside of whatever businesses I'm creating and stuff you know that's just like something on the side in the background like I can get to 100 mil by the time I'm 65 or whatever um so that's kind of what I'm thinking about in terms of investing is like I'm not in a hurry I'm not trying to sub two deals I'm just trying to own properties I want to get them paid off I want to own them I want to take care of them and I want to build a massive portfolio and I don't care if it takes me 20 years to do it you know yeah that's smart do you think um I mean do you think having your brand and everything you do just as a not you know take the age you had off the coach off if you're you know just as a pure real estate investor that helps you get deals people bringing you deals you know would you you know do you think that really helps with that kind of uh in that sector I don't really get a lot of deals because I only buy locally okay I don't buy anything in other areas just because I don't have to there's just really here in Alabama there's a really it's just a really good market I'm right on the beach it's really low like prices like the medium price here is under well under 400 right and then we got the we I got these new constructions for like 340 so like I bought them four bedroom under the median price of my area that was another thing that I really liked about them right is that I was buying them kind of under the median and um they cash flow really well you know and so it's just like I don't I don't have to go out of my market to get the cash flow that I want and buy as many as I want like they're still building those so I could buy more you know because they're they're like still building like crazy in that subdivision I mean they've got a couple years worth of construction left it's not like there's a shortage I could go buy more and rent them out and everything so um plus I'm building this apartment complex to like two three miles from my house so I have to go out of area so for people that it's nice it's nice being your backyard yeah I tell you what I tell you what having the personal brand is probably gonna help out with maybe is putting together investment groups on some of these projects later yeah I agree you know so we'll see how that goes the investment group I'm putting together for this development are just guys I've known forever that you know like here's this thing and they're like yeah we're in so I pretty much got the investment group kind of put together to take this down and build this building without really having to go to my following and say hey he wants to throw in on this and let's raise some money and stuff like that will a day like that come where I have deal where I want to go and do a big webinar and say hey here's a deal you guys can get in on probably you know yeah so that's where it'll probably help me later on raise some money how's um how's your daughter change your life I got two yeah she just turned four Monday yeah we just had her birthday and stuff she's a mess dude she is a mess so they're gone right the second but most of the time they're here at the house so she's always coming in here and checking on me and stuff and you know so that's really cool yeah change how you invest how you're do your schedule like you more you know you want to be more around more present you know just come that type of mentality like you know because you're just when you don't have kids you're go go go go go right now you're like you think about it right yeah I don't know at this point in my life I was already kind of like on the down slide knocking off at five knocking off on the weekends um and then if I would have had it if I would have had a kid when it was like in my like 20s and 30s when I was when I was like go go like working like 15 hours a day and stuff I probably I don't know hard to say man because like you probably still work the 15 hours a day because you're trying to provide the best life for them and now that I'm this point in my life before I had a kid you know I'm kind of like nothing really changed because I was already in the mode of like slowing down and knocking off at five and stuff um when COVID hit I was working out of my office like every day until COVID hit and when COVID hit then that changed everything where I've just I never went back to the office I made this little home office and this is this is my spot I'm never gonna go work in an office I say never but I probably I would imagine I'm never gonna go work in an office again like full time like I did so COVID changed a lot a lot of things you know I think for a lot of people and how they operate where they operate how they communicate and stuff like that um but yeah dude it's I love being a dad it's fun huh yeah it's cool to raise uh strong girls it's good you need more of them they actually what's cool is is we uh I go speak like two or three times a month and they come with me everywhere I see that that's awesome that's awesome that's really cool because we'll take a day and explore wherever we go and uh and then like eight out of ten of the talks I'll do she'll walk up on stage with me my daughter you know and kind of wave at everybody and stuff so it's cool that's awesome what's um what's any uh what's your what's your biggest goals for probably this next coming year 2024 yeah um just continue on really but I'm I'm redoing the zero to diamond program so I'm I'm revamping that entire thing so I'm excited about that um I want to get that done I want to get that done um this month where I'm just kind of redo the whole like I'm making a whole new website and uh just the whole thing's going to be totally different I'm using a different platform to kind of have the community on where all the course material will be there and stuff and I'm excited about that um and what the possibilities could be and then outside of that in December I plan on trying to stretch out my entire calendar to write another book oh boy I'd like to get the get the third book done because it's been like six years since I wrote the first two so I want to write this next one and just kind of bring it up to speed of you know from the other two or six years ago so there's a lot that's changed right heck yeah and so I want to I want to I want to redo the whole program and then write a book kind of around the new program right where the book brings a ton of value and then funnels people straight to the new platform that way we're just maximizing value to everybody so I'd like to get that written in December so that we can work on getting it out you know hopefully you know q2 or something like that where you know we can you know really get a big push there so that that'll be cool so I'm excited about that it's a lot of stuff that's exciting that'll be fun well ringy I yeah see if I can get it done it's hard it's hard it's a lot of hard but schedule and everything you know you know the slide edge the is it the book yeah the book the slide edge yeah yeah is it a good Jeff jel bolson so I went to Fort Lauderdale and interviewed him last week um you know that guy is amazing man he in the 90s he had this tv show called the people's network I remember that well he owned it and it was less brand okay it was less brand yeah already and Jim ron and Brian Tracy like all the big guys from the 90s yeah and um and I didn't realize like how how I knew he was big but like I didn't know that he was like best friends with all those guys right he was he's one of them he just didn't get on social media and do his thing um but anyway I interviewed him last week and uh then the slide edge is doing the little things that add up to these massive achievements but in the moment that that task is so insignificant you know like if you make the calls you're supposed to make to build your real estate business today your business doesn't really change that much today right and it doesn't really get hurt that much so it's so insignificant today in the moment right but the moment's all you have and if you don't do this insignificant thing in the moment then you're not going to have this massive achievement later it's so crazy but he did a study with the salespeople and he said that no matter how he sliced it up in anything somebody wanted to achieve when they were halfway to the goal they were they were 18 percent to the results so like if somebody wanted to make an extra say thousand dollars a month it took um a year to get there well at six months they were going to be at 180 dollars a month right and then they went from 180 to a thousand that second six months and he was like I told him about my youtube hit 100 000 he said and I said it took about six seven years he said well where were you year three I said about 20 000 he said there you go halfway through right halfway through that it took you you were about 18 percent of the way there you're about 18 000 subs halfway there right and so like a lot of these things you do are so insignificant in the moment don't change anything today but like over time it's this curve and it just spikes the further you go go along and it's like with writing a book or reading a book it's like if you don't do it it's not really significant today you know but you've got to find time to do the little things they're going to add up to be massive you know so I gotta put I agree with that I always say like right now you were saying yesterday um this is really kind of when it hit the gas right um because when things change get better in the industry where the rates come down the momentum that slingshots forward is insane you just you and if you've never been in this business long enough you know how it is you can't just really describe it it's just like you did all this work you feel like it's like nothing's happening all of a sudden the moment comes you start getting busy all of a sudden all that momentum just slingshots forward and you get all this business people have that happen like it's not what you did now it's what you did all those little like you said those little things you did prior right people just don't they just want that instant gratification well they want the youtube channel in the first week a hundred thousand yeah it's just like uh it's hard there's an agent in my group and he messaged me like he's gonna have to get another go get a job and stuff and he's like I just been making calls I've been crazy hustling I'm doing the email I'm doing videos and doing everything I just can't get anything going and I'm like well number one you're just calling geole it's just like random property owners not random like you're targeting them but you gotta realize like four out of five people have a five percent less rate and um 45 percent of these homes like they they're just chances are really slim they're gonna sell right now the relationships you're building will explode later when the market rebounds right I said but you gotta get into expires man and quit doing the same leads every day and not getting results like switch it up a lot of people just don't switch it up they just keep doing the same stuff you gotta have a few little different avenues but I was like man and I started breaking down this whole situation and I was like bro I'm looking at this like whoa this dude sitting on a gold mine because when the market rebounds his his business is going to explode he doesn't even know it he's sitting here thinking he's failing but he's sitting on a gold mine because these people are gonna because he's got a he's got like 2800 people again his email it's got like a 35 percent open rate right so it's like you know two three hundred people whatever opening his email or something like that more than that and um he just needs to keep building that up right get to a thousand where you got 350 people opening it get it to 2000 you got 700 people opening it just kind of keep building that but when the market rebounds and all those people that are paying attention to email besides they want to buy or sell who are they going to call right some of them may call other agents but some of them are going to call him yep you know and then they're going to do business with them and realize wow this guy gives great service I'm going to recommend him to everybody we love how he helped us here it's just it's just the way it goes man you think you're failing until you're not it's a good point I mean honestly a lot of people are struggling right now but like that's what they don't get it's you know they feel like they're running out of treadmill but you know when the market when the market comes to that point where things start to change all that should you know push forward and add up but you just got to be able to make it that's why when the times are good you got to buy cash flowing stuff or save your money you can't spend it all so exactly I appreciate the time as always get seeing you brother congrats on everything I will say when I do talk to a lot of people and I do recommend a lot of people to go follow you DMU hit you up you're always open to get on a call talk to people help them out you're probably the one of the most giving guys you know in real estate so congrats on that we need more of you like that but I literally tell people to hit you up like all the time and I'm like you're struggling like dude just tell Ricky I'm like why I'm like I told somebody like go call other people in other markets that are doing well and get to just just have a conversation like if you're hammering it like go talk to 10 people are doing well they're doing what you're doing see tweak it don't just sit in there and just keep spinning the wheel go talk that's mastermind you mean Ricky's talking to so many people all the time he talks to so many agents he can tell you 50 different things where people are doing how success so um where is the best ways if somebody wants to learn more about you find you hit you up what's the best place for them to find you yeah instagram's really the best place um but go to zero to diamond dot com um I think I'm right in the middle of redoing that website it's going to be way better you know a better place to get information and connect with me and everything else so awesome well Ricky enjoy your holidays um and look forward to see you crush in the new year your book and everything to come out and uh I'll look forward to saying a touch brother appreciate you ma'am all righty later bro later Ricky see ya