 If this video does not fire you up, then absolutely nothing will. If you need a shot in the arm, if you need a shot of adrenaline right now, this is going to be the video that you want to watch because I just literally just go off on this group of agents in New York about the state of the market, about what you need to be thinking about moving forward for the rest of the year. This is your time to shine. I'm not going to waste any time right here. I'm going to dive right into it, enjoy. But man, like visualize where this thing is going. You could be making a million dollars a year in the next like three years if you go all in right now instead of sitting around saying, well, nobody's doing anything. So what's the point? Go find a property. Go talk to sellers to find your buyer of property. You're doing half the job. You're just finding 50% of the deal. I cared about one thing, connecting buyers and sellers. That's it. It worked for some people, but for me personally, it's garbage. I'm trying to get to know somebody and see what it is they want to do for the rest of their life and help them do it. After our learning all that, it still took me six years of 15 hours a day to get to 100 deals a year. You're not going to get to a million bucks a year if you don't have an assistant handling everything on the back end. Putting stuff in MLS, setting up all the showing for agents, wanting to show your listings, setting up showings when you want to show property, getting pictures done, transaction coordination. All that stuff needs to be delegated 100%. I've invited a business partner from Orange Beach, Alabama, Ricky Karuth. And this is a special treat for everybody because normally Ricky and I would say, hey, go listen to his videos on YouTube. But I wanted Ricky to come in and give you a shot in the arm of inspiration today. And if you have any Q&As for Ricky, here he is. Hi Ricky, good morning. Hey, good morning guys. Morning dude. Y'all look hungry. Morning, morning. Morning Ricky. Good morning Ricky. Y'all look hungry and focused. Thanks. That's right. Looking serious. Ah, nah, nah, absolutely man. Good to see you Joe. Yeah, let me just tell you what I think and then take some questions and that'll be good. So like guys on number one, I don't know. I don't know quite exactly what you all do or what you think or what's going on. But it's not, this isn't really, this isn't rocket science. You talk to people, you help them buy and sell real estate, right? That's just the basics. It's kind of like poker. You can learn the game in a couple of minutes, but it takes a lifetime to master. You know, you lose your ass for years and years and years. That's just the name of this game. That's why most people quit. But right now we're in this really interesting place where the market has retracted a whole lot in terms of transactions, but prices have held solid and we're going into the winter. We're already in the fall and things have already slowed down even more. I was talking about this months ago, like, like you, you better be going all in right now to squeeze that summer market for everything it's got because it's going to get slower in the fall. You're struggling now in the summer. You're really going to be sucking wind in the fall. Now the, the message is go all in because what you do between now and January 31st is really going to dictate your 2024. You see every year you stair step your income based on what you do in the off season. You know, if you expand your database during the off season, then your next selling season you're going to do more than the last selling season, then it slows down and you go back to prospecting. You can't really prospect all year long. You know, I'm a realist. I'm very realistic and I, and I know that when I was, when I was just beginning my business, I could prospect all year long, but once I picked up some steam, I didn't, I couldn't prospect and sell like I was busy closing deals. You get busy and then you feel bad because you didn't make the calls and you're not building your business. You're like, Oh no. Well, at, when you get to that stage, the way you do it is you're okay, you know, selling your ass off in the summer, making that money, but then in the fall switch over to the back to like hardcore prospecting that the future top producers and the guys that have really girls that have really made it, they understand how to flip that switch to, to, to, to maximize, right? Maximize through the yearly cycles and then you maximize through that's tenure cycles. We're in this tenure cycle and what I did with the last tenure cycle, which was that 2008 situation got me to where I was selling 100 properties a year, but it was like six years later, but it was from what I did during that time right now, the work you're putting in is going to put you in position to do a hundred deals a year or whatever, you know, in three, four, five years, but you can't see that because you're just thinking about 2023, 2024. It's like great. Have a great 2022, 2024, but man, like visualize where this thing is going. You could be making a million dollars a year in the next like three years. If you go all in right now instead of sitting around saying, well, nobody's doing anything. So what's the point? I mean, that's, that's loser mentality. I hate to say that. I mean, what, what do we get into this business to do? You know, we got in this business to crush it. I hope you got in this business to just crush it. So just go crush it. What does crush it mean? It means talk to people all day long, whether it's through video and social media or cold calling or door. I don't care what you do. Just go do something. Talk to people. Don't chalk it up every day to I'm getting my systems in place or I'm making videos or I'm, you know, making my business cards, getting my website, just write all that stuff that don't make you a dime that doesn't matter. Do when I started, I didn't have a website or business cards. I was calling, sending mail and doing emails with no website, no nothing. I didn't have anything, but I knew one thing. I needed to talk to people to help them buy and sell real estate. That's our job. And the funny thing I see nowadays is agents do and half the job. They're coming in and they have a buyer and then they're waiting on another agent to list a property their buyer might want. Go find a property. Go talk to sellers to find your buyer or property. You're doing half the job. You're just finding 50% of the deal. You know, our job is to connect buyers and sellers. You're just doing half the job and then sitting around. You list a property, you list a property, you put on MLS and then you sit around waiting on another agent to sell it. Go sell it. Go find a buyer for the property. Do your job. So that's kind of like where I'm at right now is why aren't we going out and doing our job? It's almost like hard work is kind of like a lost art or some shit. You know, like where did all the hard workers go? You go to McDonald's and you go to these places and you look around and you're like, man, these people are just lazy. You know, I hate to say it, but it's just like laziness is this new like epidemic in the world now. And I'm not going to live like that. There's a job that needs to be done, you know, when people sit around saying, I want to make a million dollars. I want to crush it. I want to do all this stuff, but they're not willing to just go do their job and talk to people and help them buy and sell real estate. It's nuts. You need to start categorizing your prospects right now. Okay. With these high interest rates, the only people buying and selling are people that have to and what you're doing is you're trying to turn every prospect into a deal when they're telling you they, you know, they might do this if they want to or they, if they could do this, they would if they could find a place they would if interest rates weren't high, they would, but those people don't have to. They're just saying they would if they could quit trying to turn those into deals today, save those people for a rainy day when the market rebound. See those people that don't want to do stuff right now or act like they would if they could. They're just telling you what they want, what you want to hear and then you're spending time on them when you should be spending time on people that need to buy and sell or looking for people that need to buy and sell. That's your only clients right now. People that need to buy and sell and investors, right? Investors buying no matter what the market's doing up down sideways, investors are buying and selling. I'm buying properties every month. I'm an investor. So people that need to buy and sell and investors, right? The people that, that what if they could? Those are going to be the people that triple your business in three years. Okay. If you can create those relationships, put them on your weekly email, whatever you do to stay in touch with people and let that snowball build and let that database grow. That's where your business is going to explode over the next couple of years, but we're just so focused on A, closing that prospect that's not ready to do anything and then B, not really putting anything in place to stay in touch with anybody we ever talk to. This again, this, this is just so simple to just for me to tell you, like just the basics here. Talk to people, make friends with them, stay in touch forever, right? I mean, we all know this, right? But why aren't we doing it? You know, do a weekly email. Go to startmyweeklyemail.com. Super simple stuff, four week, you know, template system. You know, if your thing is social media, use it as a platform to get to people to start conversations. You know, don't just do it and then, you know, like use it to engage with people to try to connect and get into conversations, digital conversations, in-person conversations, phone calls, you know, stir the pot, talk to people, you know, if cold call is your thing, cold call to your ears bleed. If you do or not, do or not till your knuckles bleed. I mean, that's what it takes. And right now is a little slower than normal because we're in this down year, plus it's the fall. Perfect opportunity. Guys, every time the market retracts, that means there's fixing to be an explosion. This little four million transaction year we're having as a country tells me we're fixing to have an explosion. When's it going to happen? I don't know, but I'm going to prepare. What does that mean? I'm a squirrel. I'm going to be gathering nuts like I'm like I'm storing for the winter so that when, when this thing explodes, I got plenty of clients calling me. You prospect so much that eventually your prospects start cold calling you and that's what happens, but nobody wants to put the work in. It's like anything, everything between you and a million bucks a year is a thousand thousands of one-on-one conversations. That's it. So how quick are you going to go through that thousand, those thousands of conversations, right? You're going to do it over the course of a couple of years or you're going to do it over the course of a couple of decades. It's your choice. You can just trickle little conversations here and there, you know, and just drag this thing out forever or we can get this done right now and get to that million so that we can move on to bigger and better things like buying rental properties. You know, that's what you need to be doing. Using this as a, as a, you know, a catalyst to, to get to some real passive income and nobody wants to, you know, be in this rat race forever, but this is a great vehicle to understand the business, crush it, make a ton of money and then invest so that we can get up out of here, you know, and go do, go live our life the way we want. Cause we'll live once, you know, I mean, I know two agents that literally died making calls. They knew they were dying. They were, they were in there. They, they died from old age. They knew they were dying when they got the word they were dying. Guess what? They were still in the office making calls every day and we're like, what the hell is going on? Well, like they didn't do anything to like put their life together where they, so they were making calls to, to, to, to try to make as much as they could to leave their family as much as they could before they died, made calls up to the point they couldn't even get out of bed, died three days later. That's not how I'm going to live. I'm not going to live calling for sell by owners till I'm, till I'm, you know, till I die. It's not going to happen, but you got to get on it now. You got to, you got to have all those conversations now. Otherwise, if you trickle it out and then you don't invest, then you will be making calls to the day you die. So that's what it is. You guys need to focus on the four most important activities, right? They're both the highest priorities are not making calls by the way, right? It's showing property, going to list appointments, writing and negotiating offers. Phone calls actually lands right up under those four things. If you're doing these four things eight hours a day, you're the most successful agent in the, in the world, in the history of the world. If you do those four things eight hours a day, nobody's doing those four things eight hours a day because you got to do the things that get to those activities, right? And then you got to process. You got to do all this and that, da, da, da. You know, but phone calls is the highest priority. If none of that's going on, if that's going on, then that's the priority. And then phone calls, right? And then your marketing, your videos and all that stuff. It's not a tough game. It's tough to like grind it out for free and not making shit for a while to get to the, to get to the good part. You know, that's tough, but you can, you can drag that out as long as you want, or you can knock it out right now. You know, the real like future top producers, they, they understand this game as stages, you know, and we're all in a stage and the really good ones, they just bust right through those stages. Oh, phone calls. Oh, I'm scared of calls. Okay. Boom. Let me make them. Okay. Now I'm not scared. Okay. Now what do I say? How do I say it? How do I read people on the phone? They just bust right through that versus a lot of people just get stuck in the first one. I'm scared. I'm not going to do it. So they get stuck right there in that stage, bust through the stages all the way through to the very top and then, and then turn around a little back and say, okay, that wasn't so bad. What's next? Cause when you make a meal a year and then January 1st hits, your, your, your income from the year goes from a meal to zero. And now you say, oh shit, I got to climb this million dollar mountain again. It's daunting. Ladies and gentlemen. So right now is, is really that, that key moment. You're going to look back and say, I wish I would have went all in. I wish I just would have went all in and just make calls eight hours a day, you know, made videos, whatever you do, but, but like conversations. So I hope you guys hear that and maybe it you can apply that to your business and maybe give you a different perspective and, you know, outlook and direction of visualize because this thing is going to blow up like there's too many sellers. Listen to this. There's too many sellers who hate their home right now. They're locked in with a low interest rate and they hate their home and hates a strong word. You know, they don't like it. They need an extra bedroom. They, you know, want to be on the other side of town. They want to be on the water. They, whatever, they don't want to be where they are, but they can't move because of interest rates. Do you know what that means? That, that, that's the definition of pent up demand sellers want to sell badly. They just can't whoever creates the most relationships with those sellers who, who can't sell, but want to that's who's going to triple their business quadruple 10 X their business over the next two to three to four to five years. But if you just sit around saying, oh, well, they're not doing anything. So what's the point? What's the point in calling them? Then you're not going to be the one that 10 X is your business and, you know, hits a mill in the next three years. Cool. Let's do some Q and A. See what's up with y'all. Thank you, Ricky. I have a question. So thank you for putting into perspective the fact that, you know, there is a future in this and that there is stages in it because, you know, I'm, I'm someone that has personally been stuck in the past and, you know, understanding that there's stages to this and understanding that you, like you said, have to knock it down. You have to make the calls. You have to do what you have to do understanding that what do you think your biggest takeaway that you've ever learned in real estate is if you were just to summarize it in just one lesson. Don't listen to anything number one. When I was coming up, I didn't have a social media account. I didn't know what the interest rates were. No idea. I didn't even know the stock market crashed in 2008 and I'm talking about all the way to 2017. When I started coaching and creating content, I didn't have social media. I didn't know what interest rates were. I had no idea what what the 30 year fixed was at any given time. This is when I'm selling 100 properties a year. I started selling the first year I did 100 deals was 2014. I had no idea what interest rates were. Didn't care. Could care less. I cared about one thing connecting buyers and sellers. That's it. I was focused on one thing connecting buyers and sellers and I'm not saying don't be on social media or create content because I think you should. I'm just making a point of the depth of the focus. Right. I was only focused on one thing helping up people buying some real estate to make a million bucks. That's it. I didn't care about anything else until I conquered that nothing else matter. I would have money to invest. I didn't have time to research markets and whatever little research I did was what I did to look up properties for people. Whatever I was seen in the field as I was showing property and whatever I looked up to put into my weekly email. That was it. I don't know anything about national numbers or none of this stuff. So I think it takes a real high level of focus. You know even thinking about what you're going to do after is actually a distraction. I'm going to make a million bucks and then I'm going to do this. I'm going to invest in properties and stuff. That's even a distraction even though that's what you should be thinking in the back of your head. You know invest invest invest buy passive income. But that can even be a distraction. You know but at the end of the day at the beginning I was just trying to sell properties. And I lost everything doing that. It was just backwards and until I realized that it's not about the property. It's about using the property as an excuse to get into a conversation with someone to see if you connect for the rest of your life to try to make lifelong friends with your clients. Then until I got that then I my business was just dead because when you make lifelong friends with your prospects and clients your business is just snowballs and it just gets bigger and bigger and bigger because they do repeat business with you. They refer people to you but then the referrals do repeat business with you. They send you referrals now you're getting referrals of referrals of referrals and all this repeat business. So it's like a spider web and it just it's a snowball when you build it like that. But if you're just in sales where you're just trying to sell the property instead of using the properties and excuse to talk to someone to see if you connect with them short and long term when you're just trying to sell the property then you don't really make that connection. Then they're the prospects like they could take your leave you you know and they'll go use another agent. They might use you again but you know you're just a dime a dozen but when you go to the depths of you know really connecting on a deeper level with them and what does that mean. It means asking questions and being genuinely curious about their situation. You know why why why why understanding why they want to do what they want to do and they want to do how they want everything and then continuing to ask it's like OK. Oh really blah blah blah like you you go deeper and deeper and deeper. That's what that's where like people realize wow this person really cares they're asking me all these questions. So I think you know a super high level of focus and then understanding you know when you call a circle prospecting Geo lead you're not calling about that property you're using that properties excuse when you call an expired you're not trying to list that expired you're trying to use that properties and excuse most of the expires are represented a representative as buyers. You know because I just get into a conversation in that figuring out what it is they want to do come find out they don't want to sell that property want to buy this property over here or they're looking for this or looking for that and I'll sell them something not list their property but represent them as a buyer because I'm open when I'm trying to just listen. I'm using the properties excuse to get into a conversation to listen about what they want to do. I'm not focused on trying to set the appointment sell that property. Here's why you you know all that stuff to me. It works for some people but for me personally it's garbage. I'm trying to get to know somebody and see what it is they want to do for the rest of their life and help them do it. So focus and a high level of genuine curiosity around you know when you're calling a Zilla lead I'm not trying to sell the house that they're inquiring about I'm trying to use that situation to get into a conversation. So hey I see you were looking at this house online tell me what's going on. You know I expired I see you were trying to sell this house at one point whatever happened with that I'm trying to just spark something that creates a real conversation not just a scripted you know trap you know or whatever the case may be. So I think focus you know deep conversation deeper conversations not just surface level and then have systems in place to where no one you ever talked to ever forget who you are you know and that's where the weekly email just simplifies the whole process. Gotcha. I have a question so you know it sounds to me obviously over time you're developing your social skills sorry and building a rapport with these people and I'm just wondering you know if you were reading specific books or for example if you ever like we're utilizing an LP or any of that kind of material or if you're just doing it all natural just by you know practice. Just practice. I don't know what an LP is I've heard about it and I'm sure it's I think I understand kind of what it is but I've never really looked into it. I serve tables for a while at a restaurant. That helps me tremendously also roofed houses all growing up with my dad those two things really helped me a lot because the roofing was like you get up and you work your ass off all day like real work. And so that taught me like the hours you're supposed to work right and a lot of people don't even understand that and then the serving the tables really improved my like my social communication skills you know with people I didn't know and I used that as exercise you know like I was really in that fixing to become an agent when I was serving tables and when I lost everything I went back to roofing and serving tables and it was fun for me because I was like you know I was really you know getting into it with the with the serving there were a couple of books that I read that were really generic books about like you know how to talk to people how to make friends stuff like that I don't remember any of them it was a long time ago I read about a hundred books back when I lost everything 10 x roll slide edge compound effect you know all the classics and then a bunch of just generic ones that I found but I think you should read you should be reading your ass off and just developing whatever skills you can you can you know develop you know books are just like the key man like you it's it's incredible what you can what you can take out of books and apply it to your life and everything but um but but I'll be honest like most of it was just practicing you know and like I didn't do any role playing I never have anybody role play with I was literally by myself wherever I was I was in office by myself everywhere I didn't have like a group or like agents never happened um I I would practice on prospects you know I mean I realized pretty early on that I can never call every single property owner which means business is unlimited forever because even if I did call every property owner in my market I'd have to turn around they change their mind every five minutes so you can't call you know everybody every five minutes it's just unlimited it's unlimited abyss so I knew that and I never even called anybody twice that's another like fact is I never I saved all these phone numbers of all these subdivisions and condo complexes that I was like I'll save these for a rainy day I might call these back one time one day never happened never got around to it in today's world and of course I would like I was it was literally notebooks like notebook paper like it's actually you see this door right here like there's a box in this door with every number ever called on real paper but um today you've got the dialers you've got all the stuff like digital and stuff you can like click a few buttons and like auto dial like I didn't have any of that so you can call people back and go through subdivisions like in a matter of minutes a lot easier nowadays I'll probably do that nowadays but yeah like these scripts and stuff that I've have on my website I developed that those were just unique to me and it's just and I didn't read any of that out of a book it's just trial and error you know so like I said it's the stages okay and like you may be in the stage where you're trying to figure out how what your tone needs to be you know and like the speed of voice and like how to make people feel comfortable with you and stuff that might be where it sounds like where you are and there's no like magic pill that's going to make you all of a sudden great at that tomorrow it's just it's going to take time and practice it takes a long time then it I got in a note to a loss I saw my last condo in 05 didn't sell anything between 05 and 08 08 I get back in and that at that point I had pretty much learn a good bit of what I teach nowadays okay that like it took you know making it losing it and then realizing what I did wrong and how to really build the business right after our learning all that it still took me six years of 15 hours a day to get to 100 deals a year six years you know it's just like I made it lost it came back and then six years later after all that I had to have my first year of 100 deals and it took me 15 years total from the point that I started real estate till the year I made a million bucks in a year 15 years and like people are like I saw it's about you know three months in I haven't sold anything it's like shut your ass up you know or I'm two years in and I and I'm only making a hundred thousand years like oh my god you're crushing it you know it's like fuck right because what is it ninety percent quit in the first year anyway yeah and that's a whole another conversation you know that whole that whole deal yeah I mean that's why I was partially just curious but as you said you you're you're not really like reading those kinds of books but I was just curious I did read some books I did read I know I just been about NLP specifically I don't know what it is honestly I've heard about it and I think I have an idea but I yeah I mean I'm just naturally built a skill through whatever reading I did and talking to people I'm an introvert I've no interest in being in crowds or talking you know making videos not my thing but I you know develop these skills you know as if I'm a tradesman you know what I mean like this is my trade learning how to talk to people making people feel comfortable with me working hard making sure that you know they're taking care of so that's the way I look at it yeah I know it's good so thank you yeah ma'am yeah so I'm gonna follow up with a question Ricky so you said you're introvert so how did you develop that to be more of an extrovert to be social just making the calls every day being disciplined and consistent and you just well I'm not well I'm not I'm not sociable I'm not whatever you just said I'm not right I don't look at the calls as being extroverted right I look at that as that's my job okay my job is like I said I look at this as a trade as a skill my job is to talk to as many people as I can to make them feel comfortable with me and then help them truly help them that's my job right and that's the way I look at it like I said 99% of my call sessions were in a dark we're in a dark room by myself right I don't want anybody hearing me make calls you know I'm saying you know so you know when I'm making videos and stuff dude I mean honestly if you ask me my videos suck you know like you seem lively you started off with a nice pitch and you know talk about the rates at all like you have a lot of energy in your videos where you seem like you know you would think because you captured me in the first few seconds talk about different rates and what's going on I told you I told you but again but again that's my job yeah my job is to get your attention and to bring you some value right and I'm doing that by myself looking at my phone I'm not in front of a crowd now I mean I go speak and I'll go tell jokes and I'll make the audience laugh and cry and everything else but again that's the skill that I developed you know I wasn't natural and so I say all this to give you guys inspiration and hope that doesn't matter if you aren't great at calls or don't like it or don't want to publicly speak or aren't good at videos or whatever the case may be right I'm in Alabama I grew up in a trailer roof and houses if I can do this I promise you anyone can do this that this is not you know this isn't the success in this realm whether it be real estate or even just social media in general is not reserved for the few okay it's not it's not like there's only the people at the top and you know no it's reserved for the people that are willing to work for it and work to get better every day no one at the top very few people at the top are just natural you know at whatever it is you see them doing you know Ryan Sirhan like he wasn't a natural at what he's doing now Mr. Beast not a natural like if you watch all these all these guys journey from day one like you'll realize like if you go back to the early early days you'd be like oh my god you know it's it's bad so you know everybody wants to compare their self in their bad days to people that are at in their great days it's like no they started out right where you were right where you are anybody else have a question for Ricky Ricky I have a question about your investments do you do single family homes or multi family homes both okay where do you find sorry single family duplexes for plexus apartment complexes commercial I like small commercial buildings I've got several commercial buildings like thousand to three thousand square feet I just bought five new construction homes that are brand new I just bought a little nineteen sixty two bedroom that we remodeled I just bought another little tiny thousand square foot office building I've got three acres under contract that I can build about 30 or 40 apartment units on that I'm probably going to build so I'm doing a little bit of everything but it's all local it's all right here in my backyard the three acres is literally two miles from my house those five new constructions are literally like two miles from my house so that's kind of what I like I don't I've got a partner here and there on some of all most of them I own myself what's that you have property managers no I just I do it all of them yeah it's pretty easy because nowadays there's apps that the renters actually apply on and pay their rent on and so it's super easy you know they pay the rent that app act you know makes them pay a late fee you know if they're late you know I can go on the app and see who hasn't paid it's it's like before the app yeah I was like okay let me think about getting a property manager and get too many properties here but with the app it makes things so easy I just scroll through and see who hasn't paid you know reach out to them see what's up they call me if something's wrong and I get a contract plenty of contractors you know to to handle all that it's it's not a it's nothing crazy right it goes back to hard work being this lost art like guys like you realize like I edit some of my YouTube videos and I post everything I answer every DM myself every comment is me what it like when I was selling a hundred properties a year I showed every property like I didn't have a buyer agent right you just I could go on and on and on here like I do all this stuff you know it's not a thing for me it's you know I think I think we're in this war where everybody's trying to get out of doing stuff how do I delegate this how do I delegate that and that's awesome you know leverage and delegate all that stuff great go do your thing everybody operates differently you know maybe that's your thing is delegating stuff great awesome I delegate plenty of stuff but I know the things that I want to do you know the things I'm willing to do and I make it easy like the property management so easy I could have a hundred two hundred properties managing I got about 30 something right now like it's nothing you know they call me a call a contractor they'll text me or whatever like it's not a big deal so I think people just make big deals out of nothing and then act like it's something oh god I got to get out of here there are things you need to delegate right you're not going to get to a million bucks a year if you don't have an assistant handling everything on the back end putting stuff in MLS setting up all the showing for agents wanting to show your listings setting up showing us when you want to show property you know getting pictures done transaction coordination like all that stuff needs to be delegated hundred percent so I'm not saying don't delegate I'm just making a point that I'm willing to do stuff whatever I told who was it of a Joshua Smith or somebody the other day I was like if I lost everything today like I'm ready right this second to go hop on a roof and start laying shingles right now zero issues ready to go ready to get on a ladder go on a roof and start nailing shingles ready no problems you know a lot of people are like I won't even I won't go work at you know McDonald's I'm too good it's like I see people lose their job and then they don't even work for like a year and a half I'm trying to do this and that like dude I would have been sweeping floor like I would have been cutting like it's insane right it's insane thank you what else you guys got I got time for one more hi good morning so so these investment properties that you're currently managing how do you source and and find or try to I guess differentiate one property from the next second like a zero formula is there a sheet that you use to see what's the cap rate for each house where you just like what's the formula for trying to source to each property to the next they just fall in my lap and I decided if it's a good deal or not a look at what the monthly payment is a look at the cash I'm gonna have to put into it you know like the new constructions for example I have to put about 80,000 down and my payments about 1650 and I can rent them out for 2400 so what's that it's about 750 a month cash flow so I'm putting 80,000 down cash and I'm making about nine a little less than nine so about 8500 or so a year or something off that no maintenance because these are brand new homes no maintenance for you know 510 years whatever so that's 8500 on an $80,000 investment so that's more than 10% a year back on my cash then on top of that it's paying a self off on top of that it's appreciating these homes have already they've already raised the price like 6000 since I put these under I just closed on them like and like you know I'm closing on two and two weeks and then I closed on three already but anyway like that's just one example a cool thing about those is they're new so the insurance is low workers are built to better standards and I went through the builder on the loan so the mortgage rates 5.9 on an investment property and they're paying 5000 my closing costs no maintenance for five years it's like for me it's a no-brainer I'm let me I was like let me buy five of them that's a good those are great investments and the thing is about it is that anything that cash flows in this high interest rate environment now is a true winner because although rents may be coming down a tad or leveling out or re you know finding a new floor they're not going to go to zero okay I mean the on these deals even if rent went down 20% I'm good but rents I don't believe rents going to go down 20% like in the hardest hit cities like Phoenix rents down like 6% year over year that's the heart that's some of the hardest hit cities it's going to level out somewhere my point is is that rents will continue to rise once they find that leveling out all the dust clears they're going to continue to go up to 3% a year alright if rates go down over the next say five years okay and we refinance at a point cheaper now where our cash flows even more so if your gap between your your expenses and your your rent is X as time goes on your monthly expenses are going to go down if you refinance and your rents going to go up so that gaps going to get bigger over time so if it cash flows now it's it's a it's a winner right um that little two bedroom I flip properties of two other guys and this one was one that fits my portfolio so I'm a third partner on the flip so we bought it fixed it up and then I was like I'll buy it so already have automatic equity because I'm a third partner on the flip and I just bought me and the other guy me and one of the other partners we bought the other guy out so it's like I don't go like out looking for deals I just kind of like things just fall on my lap and I'm like okay you know this is a good one that three acres I got under contract to build 30 units that's my buddy he listed it and I was like man if you find something to build build some apartments I want to build some apartments like I got this thing over here I was like damn so you know it's a good deal and so just depends I think after you do it for a while you kind of realize what a good deal is and stuff you know Grant Cardone likes that 1% rule like 1% of what you pay for it is the monthly payment I've seen that on some things like we did a commercial deal and we paid 450 and we run it out for 4000 we could have got 4500 we'll be it will definitely be able to when the lease is up probably be able to get 5000 but that was a good little 1% rule deal and that the numbers work when you get something for 1% it rents for 1% of the purchase price that is a winner right there this two bedroom we're buying for 195 we'll run it out for like 1500 so it's not quite a 1% these deal Horton homes we bought them for like 3350 we're running them out for like 2400 or so that's not a 1% you know but the numbers still work really great so I wouldn't just hang my hat on that you have to look at the whole deal cash up front you know return on it on that investment plus your depreciation depreciation and debt by down I mean I'll tell you my my plan real quick and then I got a role I got to go catch a flight I'm my goals to buy a property a month for five years that 60 properties I've already got about 40 so that'll be 100 if they average 500 a piece that's 50 million if I take another 20 years to pay it all off and it more than doubles in that 20 years which is pretty conservative it'll be a hundred million bucks worth of paid off real estate probably bringing in like two 300,000 a month that's just a little thing on the side I can do so like all the brand building to create these different revenue you know avenues that's just to get enough money to buy a property a month right and try to build this you know hundred 200 300 million dollar real estate portfolio kind of just on the side while I'm trying to build these other businesses got it cool cool anything else I can do for you guys today. So I am sorry. What are so in in Alabama how like one of the addiction laws like how it's really good I can get somebody out in about 45 days. Awesome. Thank you. Yeah. It's a little bit of a process but I can get them out about 45 days I can I 45 days for me filing the first thing I can have the cops there in about 45 days to remove them from the property. So it's pretty good. Ricky, I have a question about prospecting and you taught me this. I want you to tell everybody else about the rejection part. You know, when it's just a while. Well, rejection is just again them telling you what they want to do. What you call rejection get somebody give me an example of like a rejection or or an objection. You know, you're having trouble with. I'm not looking at. What's that? I'm not looking at by or so. Okay, great. Do you have an agent that you would work with when you do? Yeah. Okay, so great. Who is it? Oh, John, though. Cool. John does a great agent. You're in good hands. Listen, I still love the opportunity to stay in touch with you. Is that all right? That's fine. Cool. What's a good email? See you. They're telling you they don't want to do anything right now. Awesome. Go ahead, Renee. What was yours? I had a woman who said she didn't want to sell until her daughter graduates from high school. So three awesome. When's your daughter graduating? Where'd she go to high school at? Cool. I mean, I graduated in 89. How you do? Like is Miss is Miss Stuart still there? Yeah, she is. You know what I'm saying? Yeah. Like, okay, you that's awesome. You want to sell when your daughter graduates. Amazing. You know, like that's exactly, Renee, what we're looking for is people that are telling us that kind of stuff. Then we go deeper and deeper and deeper. Right. Do you have an agent you're going to work with whenever your daughter graduates and you guys move on? Do you have somebody in mind and agent that you're going to work with on that? Because I'd love the opportunity to interview for the job, work with you however you want to. However you want to word it. Right. But I would love to work with you. You know, it is how I worded it. I have a son that's the same age. So we got a good conversation about it. Yeah. And then just identifying if they have an agent and then, you know, identifying yourself as their agent, right? And then putting together a plan, you know, it's like, okay, when she graduates, you guys going to hang out on the house and kind of enjoy it for another couple of months before you get serious about moving. Do you want to move immediately? Right. I mean, there's more to the story. And unless you know all these details, you can't help them. You know, do you want to hang out there another year after? I mean, they might want to hang out in their house and enjoy it for a year after they graduate and then move. We don't know until we ask. They want to move them. They might want to move immediately. They might want to already have a house done ready to literally like move day. She moves out. They've already closed on their house and they just move over and then put that house in the market because they can buy before they sell. Some people have to sell before they buy. But we don't know if they do because we haven't asked. We don't know what their real plan is until you understand what their plan is, what they're wanting to do, why they're wanting to do it, how they're wanting to do it. You can't help them. And that's called, ladies and gentlemen, being a professional. Cool. I got a role, guys. Enjoyed it. Ricky, thank you so much. Thanks, Ricky, guys.