 God listen dude if you're not excited about the market right now then something's wrong with you like you're not paying the tension I'm sure you guys you know that we're flipping. We're loving that right now. You're thinking oh crap You know it's you're losing money on flips now, but this is what the market was supposed to do This is mother nature. I'm more of a buying whole guy So I flip houses constantly as well. I buy my flips at the courthouse You know, I just pay cash for foreclosures at the steps and fix them up and flip them So that's my flip game But I don't even love that game because I'm paying taxes on that money I love to buy and hold big properties and you know, I love the tax write-offs. It pays itself off I have cash flow and appreciation. I don't get that with flips. I just get immediate income that I get taxed on That's not attractive to me. So the flipping game for me is just Somewhere to just play around, you know play around in that space, but honestly if I didn't have partners I loved in that space. I wouldn't even be flipping houses I would just be buying and holding as much as I could and just play Monopoly with the whole thing because You know, you buy great locations and you know Maybe sell you could sell the bad locations that you realize are not as great a locations And just continue condensing your portfolio into an amazing portfolio by the time you die You're passing down this amazing portfolio To your heirs when you're flipping houses, you're just paying taxes But but you know on the on the flip side of flipping I'm also a real estate agent and so I make a lot of money on commissions. And so in essence, that's flipping Right because I'm taking a property and getting the seller to agree to basically a net figure And I'm making money on top of that net figure and I'm selling that property to somebody else Surely the same thing. I'm flipping and I'm paying taxes on that money, you know For people that aren't real estate agents flipping is pretty much your real estate agent You're taking a property and you're selling it for more money and keeping the rest You just don't have a license, you know, if that's your source of income and you're really good at flipping I don't like that for a main source of income because there's there's risk, right? You can lose money on flips You know, it can be risky at times It can also be risky when you walk in and you find out there's a hundred thousand dollars worth of rehab that you didn't know About underneath the drywall everything's rotten or it had termites or something weird that can happen It's fun, right now. All this stuff is is is so fun There's some of the different ways to make money and right now is an incredible market because everybody's confused Like, you know, the consumers are confused. They don't really You know, some people think the market's gonna crash and burn, you know worse than 2008 And you know some sellers are living in, you know, they're eating, you know, Willy Wonka's chocolate And they think that we're still in 2021 and everything in between so it's interesting and the name of the game is people Understanding how to communicate to people understanding how to talk to people You know getting to know people understanding what they're trying to do and trying to figure out how to help them do it You can slow play everything, right? You know, yeah, the definition of a shark is Someone who is basically, you know, you're sitting in the grass, you know Watching everything you understand everything happening. You see what you're prey. Let's just say that they're prey They're not really prey. You're trying to help these people and you can like once you want once you harness the power of Communication and you understand market cycles and what's happening in the market and you can you're really good at I Hate to use these words, but manipulate people into telling you what they're trying to do That's a power. That's a superpower and you can use that power for good or evil. I use it for good Right, I manipulate my prospects and they're telling me what they're trying to do because I genuinely want to help them do it I don't even care if I make money on the deal That's how badly I want to be connected to people because I know long term the long term The long tail of relationships is worth so much more than one deal You know, if you help someone they remember that forever and they're gonna want to come back to you and do business over and over and over again You know, so always keep that in mind So we can go so many different directions with this conversation as you can see and I'm more than an open book and happy to share everything and anything so I've told Naaman. Is that how you say it? That's all Naaman that You know, he's like what direction you want to go with it. I'm like, whatever's gonna help you guys You know, so so let's do it man I'm I'm interested to hear more about you you guys what you're doing what you're into what your problems are and what I could do to help Yeah, well, thanks again for coming. I really appreciate you You know jumping on here and letting this pick your brain here and I know a lot of you a lot of these DMs This is the way you serve a lot of people At one time and connect even more people because I'm just like you with that I'm like, how many people cannot just collect and then serve and help Because that's gonna equal the greatness, right? So I know you as the guy that trains real estate agents That's that's why I connected with you because I'm starting to shift a little bit more towards aging outreach Doing those on the MLS even considering, you know, getting my license and stuff like that It wasn't has not been the case for the last two years. That's not how I was doing my business So I'm starting to make those connections now So I can add this to my wheelhouse moving forward. So I want I want to ask you, you know, what's a way that I'll open up But the first question what's a good way for an agent to work? We're a good way for an investor to reach out and work with an agent. How's that conversation go? And and like for context you're talking about, you know, creating the relationship so that the agent basically gives you deals or that you work together on, you know Properties you need to sell and you know, but more so sending you deals and keeping your pipeline full Yeah Yeah I think it's like anything else, you know, just building the relationship when you can make them feel comfortable with you You know, again guys, it comes back to communication. If you're really good at making people feel like they're part of your family That's it Right and that comes from tone and genuine curiosity about people And being a great conversationalist and you don't necessarily have to be an extrovert to To to know to master that because I'm definitely not But I do enjoy learning about people and talking to people and Figuring out exactly what their motivations are and what they're trying to do So with real estate agents, you know, what do they want, you know, what are their motivations? Well, they want to sell properties and make commissions And if you can put them in a position where they they're comfortable with you and they feel like you're going to You know be a good client for them Then they're obviously they're gonna want to do business with you I mean, they're there's not too many agents that are gonna turn down business, right? You know, like even if they don't like you all that much, they're probably still gonna try to sell you something Right, but if they do like you think about that scenario and You know how you could be at the top of their list of investors who see those off-market properties before anybody else So again, I mean, I'm you'll probably hear it a bunch But it for me, it's all about how we're communicating and what our real intentions are, you know, listen, I hate the Mainstream, you know coaching and training, you know of trying to close deals and I don't know what you guys subscribe to or what the I have no idea what you guys are up to as far as like cold calls and closing deals and stuff like that But I absolutely do not do objection handlers and You know, oh, well, you know, you don't want to sell. Well, if I could do this, would you sell them type stuff? Or or even who do you know that might want to buy or sell anything? I just I'm not into any of that And I'm definitely not into trying to just close somebody that's not really interested in closing Because what it does is that it crushes the relationship I could have with that person long term that turns into so much business What I'm more interested in is, you know, here's who I am. Here's what I do You know, what do you want to do? Right and why and when I think a lot of money yesterday Ricky You didn't even know I listened to a bunch of your podcast before we did this just so I can have context and Exactly what you just said is what you said on one of the podcast. I listened to so when I was talking to my seller Obviously, we're doing all the objection handling stuff with all these distressed properties and things like that. Mm-hmm I just listened to what my seller was saying and found a way to be the solution without any of the extra stuff Yeah, yeah, and the guy went from like he gave me a 10% discount on it Good retail property. Yeah for me to get the deal done and I was like this was amazing But what I was doing before was trying to close this guy. Yeah based off of you know, what I thought the extra See see that's what's very interesting is because when we all start our careers We get caught up into the mainstream coaching and training and scripts and we kind of start out See we get into the business and we think I want to help people and then we get into the business And we get some coaching and training and we realize we have to try to close people that don't want to necessarily be closed And so we go down that road for a while and then we have a moment like you had yesterday where you realize wait a minute You can actually be a nice guy and not try to close and actually close more deals and that's where the transformation starts to happen in your career where Where you you realize that that's the case. However, it's like you can't let go of that closing mentality cold turkey And so you kind of go like 2575 or your 75% still trying to close hard But then 25% of you is just trying to listen and help and then once you want it It's like you don't want to let all the way go of trying to chase deals But then it comes a point where you're like this really is working great. Let me go 50 50 And then you go 2575 the other way and before you know it you're at 95 5 95 5 ladies and gentlemen It is the goal to be 95% low pressure and 5% high pressure Whereas now that 5% you're picking and choosing because remember you're the shark sitting in the grass You're watching you know what's going on. You they've already told you why they want to sell You know, you know what their motivations are you've seen this story play over and over and over again, right? You can tell based on what they said when you ask them why they want to sell if they're actually interested in selling Say too many of us take a prospect and we think We classify them all the same. They're gonna sell. That's not the case Some of them will say I'll sell or I want to sell but they don't really want to sell Well, if you wanted to sell why are you pricing it 50,000 over the asking over over market? You don't really want to sell you just would sell if see some sellers are would sell if this happened If that happened those aren't very motivated sellers You know the same thing with buyers you got to be good again communicating And and this is why communication such a high-level skill that everybody needs to focus on as to be the very top thing That you work on whether it's books. You're reading paying attention on your calls I made a hundred thousand calls in my career So I you know when I got in real estate. It was 2002. I was 21 and there was no Auto dialers. There was no, you know, YouTube Facebook Zillow All the gizmos and gadgets and everything that's stand. That's the standard nowadays didn't even exist when I got in the business That's what that's what I that's my perspective is interesting because I Know what it's like not to have any of this stuff So I look at technology and where as far as communication has come Since the beginning of my career and I see so much opportunity Whereas people that are getting into the business now They don't realize what it was like without these tools and without all this technology And so they don't necessarily appreciate it to the level or or even more so understand how massive of an opportunity It is to do things 10 times faster, right and to communicate with 10 times more people You know and build your business literally, you know 10 times faster But yeah, again, I don't I don't remember the question I go off on tangent So, you know, just interrupt interrupt me if I start to go off on something that doesn't matter No, no worries This one we get all the good information is we're just kind of freestyle on what it is you want to say So I like I like when I get guests that do stuff like that because I'm like we're gonna get some real good stuff I mean, I mean listen back. I do remember the question with real estate agents, right? Let them know you're looking for deals. They're gonna want to help you This is what I'm looking for. Here's my buy box This is what I like, you know, send me deals put me on a drip. We me on automatic call me when you have off market You know, I'm serious. This is what I do. This is my this is my livelihood You know, I want to do business with you. Let's go have lunch. Let's get to know each other I think that's a great, you know something great and they they look they may not want to have They may not have time to go sit down with you for lunch or coffee and don't take offense to that They're busy When people ask me to coffee and stuff, it's tough to find time to do that kind of stuff, you know, it's tough But by God if I'm not gonna send you a property Right that I think you might buy, you know, and a lot of times remember you get to know people through a transaction That's where you really get to know somebody So, you know, don't take offense if they don't have time to have coffee or lunch, you know Still offer it and if you can great, but but let that be possibly a red flag if they have time to have lunch or coffee with you All right, they may not be that means that they're not they're not that busy, which might mean something Hey, so I want to open it up. It's not just for me It's for the other 50 people that are here You guys want either raise your hand and I'll call you so we can ask some questions for Ricky as you guys can tell you're getting some really long answers, so This is a good opportunity with someone with 20 years of experience right at a very high level What's the next thing you're speaking at? Hi, I'll be in Vegas at Ryan Panetta's event next week I'm speaking on Thursday and then I'm flying straight to Long Island to do An event there then I'm going straight to Orlando So that's all this month Yeah, then I'm doing I'm doing an all-day workshop here in my hometown I'm gonna be covering real estate agent have become number one social media how to build massive brand and also real estate investing Everything from first-world property all the way to syndications and then Yeah, I'm putting together Chicago Kentucky Sacramento, you know It's just gonna be boom boom boom So yeah, if that if you guys ever see if you May follow me on Instagram you guys Want their answer all my DMs and you can kind of keep up with where I'm gonna be when I'm gonna be there I love to see a shaky hand all that good stuff But hey, I want to thank you for taking time out of your day Ricky to come talk to us tonight I'd love to get your perspective I'm brand new to investing, but I'm also Almost done with my license Finally So I'd love to know from your perspective one, how do you balance your time between investing and being a real estate agent and then to Pretty much being a real estate agent and being new. What are some things you wish you knew when you started? To kind of help somebody who is green in the field That's that's beautiful. So with real estate agent versus real estate investor, you know for me You know, and I don't know your situation, right? You may have a job outside of real estate all together that pays your bills, right? Is that true? Yes, okay, so you have a job that pays your bills so you can literally Do this for like 10 years because your bills are taken care of you can do real estate on the side investor and real estate agent On the side for 10 years 20 years your bills are taken care of so that's a problem with most agents is they get in and they're Such a hurry to get to real estate full-time if it doesn't happen in six to eight months. They quit It's like, wait a minute your bills are taken care of and if they quit their job to go real estate full-time Well, that's just recipe for disaster because if you're putting yourself under the gun to close a deal in six to eight months And now you're in month four and you're getting desperate people can hear that in your voice when you're talking to prospects and you you don't get any deals because They're gonna go find an agent that doesn't sound nervous about the finances, right? And you may you may not think they hear that but they do They can hear the desperation in your voice. And so don't put yourself on a financial pinch That way you can talk to your prospects more freely and coming right back to what I've been talking about the whole time communication right to be able to talk to people without any Expectations from the other side if you're a real estate agent, you need to think of yourself as a volunteer worker Volunteer worker doing community outreach to people in the market to see what you can do to help them who you are What you do and what you can do to help right and the entire name of the game guys with this is to collect data You know, why do you think Amazon, Apple, Zillow, Facebook spend billions of dollars on data every single year? It's because data is king, right? They use the data to remarkets us based on the data to sell products Same thing with us. We need to operate our business is the exact same way You need to be in data collection mode every single day, right? You talk to people you create relationships You collect their data you stay in touch with them, right? So I'm just kind of breaking it all down really quickly and that way you can get like a 30,000 foot view but Let's see how which direction can I go with this with with first off real estate versus investor real estate agent, right? That's the path they're gonna go. All right, you want to really focus on that It takes so much effort and momentum to get that business rolling That you really need to focus and be more of a passive investor like if you see a deal grab a deal Right, if you see it get it. That's how I was for a long time. I focused a hundred percent on real estate I built it up to a million dollars a year All right, and I bought little rental properties along the way But then once I started making big money then I started buying more real estate, but I wasn't really all in with investing I was kind of like doing it if I saw a deal I would get it whatever I wasn't like actively trying to be an investor. I was just trying to be a real estate agent Who made a million dollars? That was the whole goal if you focus on trying to build your real estate agent business up to a million dollars a year You're good. You could have you got all the money you need to invest and you have a million dollar a year of business You know, but if you let investing distract you from building that million dollar your business then it could Crash and burn the real estate agent business. All right. I'm just telling you how I played it I'm not telling you this is what you need to do I'm just kind of giving you my story as far as being a really successful real estate agent It's real simple. All right You want to make calls all morning do a weekly email in the same bit of the week forever to your database and then do social Media and all your marketing stuff in the afternoon. Boom. You're done because it The number one reason why people choose a real estate agent at the end of a deal If you ask the buyer or the seller, hey, how would you pick your real estate agent? The number one response is I had a friend in the business And so now we understand that the number one goal because if you think of how how closings happen and how people pick agents They have a friend of the business our entire objective needs to be how many friends can I create in the market? How many people can I give warm and fuzzy feelings to that? I'm truly care about them and I'm their friend Right more of a friend than any other agent. And so you do that through communication tone Right, you know try this is what you guys should try The next time you're talking to your mom dad brother cousin best friend from high school Right during that conversation take a second while you're listening to them talk and think about how comfortable you are with them How comfortable they are with you? The tone of your voice how your shoulders are relaxed how your heart beat Everything how fast you're talking how slow you're talking the everything and take a mental snapshot of exactly how comfortable You are in that situation talking to someone close to you and I want you to think this right here is how I need to talk to my prospects Because if you can talk to them like family Then there's a really good chance that they're gonna do business with you and it may not be today But it doesn't matter if it's today as long as they're going to do business with you Your job is to stack up lifelong loyal clients They're gonna stick with you through your entire career Not necessarily do a deal today if you hear that they're trying to do a deal today great why You know why you want to sell this house? This is a beautiful beautiful place. Why in the world would you sell this place, sir? You know, oh, okay, that makes sense in that case Here's the game plan Here's what I think we should do to get you the best results to help you accomplish what you're trying to accomplish But I'm not going for the kill. I'm going for the Connection and a lot of agents they try to convert before they connect And you can't you got to connect first then convert You know after you understand what exactly they're trying to do But if you here if you every morning said I'm gonna make calls until I've created five new friends in the market every day If you do that 250 working days a year for five years you have 6,000 friends in the market and hopefully you've targeted property owners that on the exact type of property that you want to sell Now you have six thousand Friends in the market that only exact type of property you want to sell that are getting a weekly email from you on the same day Of the week forever Now how big is your business at that point? I'll tell you you're probably in the top 10 of your of your market probably in the top 10 top 5 top 20 of your MLS at that point because so many people your friends with so many people and that's how people choose a real estate agent But the problem is Agents over complicate this process and they do it for eight months and they only sell one or two properties or no properties And they just give up meanwhile their database was that 200 and growing right? They've learned how to write a contract work MLS talk to people right and you do a transaction But they're discounting all that to nothing Like okay, I'll leave you with this since I'm getting long-winded about it your first year in real estate you make millions of dollars You just haven't cashed in yet Learning how to work MLS is worth a million dollars to you over the life of your career Learning how to write a contract is worth a million dollars Learning how to do a transaction million dollars learning how to talk to someone on the phone input their data in the database Do a weekly email million dollars? All these things are worth so much money to you all these skills We're so much money to you and all we're looking at is the tax returns for 20,000 because you did three deals and you're like I made 20,000. No you didn't you made four million You just hadn't seen it yet, and if you don't give up you will see it. See what I'm saying 100% thank you. I could really go on and on and on about it, but But I'm at all my courses and stuff are 100% free at zero to diamond calm 60 days that for us Ricky We can post it in the chat there website zero zero to diamond calm Zero two diamonds put your Instagram channel Oh, shoot, I sent that to you hold on all those courses are totally free There's a 60-day challenge and Several other courses right there's all my scripts or videos of me making calls tutorials the whole nine yards Everything that I know about Being a successful agent is right there, and if you need something just message me on Instagram And I'm more than happy to help you in any way I can Guys raise your hands if you have questions and I'm gonna ask more questions. All right Tanner. What's up? What's up guys? I appreciate you bearing with me up, you know screen. I'm at my nine to five So kind of breaking the rules so I had a question for you because you said that you know oftentimes we get caught up in You know closing the deal and what's in it for us? Yeah, what are some basic principles on the phones that we could implement that allows us to kind of Remove our selfish desires from the call and really focus on the clients Like what are some practical things that you do to keep that in the forefront of your mind when you're on the phone? I'm so glad you asked that man. So just while I got you what giving me a typical General script that you're using now so I can kind of tell you how to trans you know translate that So I'm pretty new so bear with me. I just been buying leads and calling the last couple weeks Yeah, so I said, you know, hey Ricky Yeah Hey Ricky, this is Tanner I was just getting back to you in regards to the inquiry that you had made on our website about 1 2 3 Main Street Are you still looking to sell that property? Okay Maybe Maybe perfect. Okay. Well, tell me a little bit about what's going on with it And what led you to punch your information into the website there? Okay. Okay. That's actually pretty good Right because you're you're basically finding out does he want to sell and then you're kind of basically in so many words You're asking why you know, like what have what made you do that now right there is where? The rubber hits the road because based on his answer of why he wants to do this That's where you're gonna take the conversation You know, whatever way you need to to help him through whatever like he could say I don't know I could I would you know, I just figured the market still were really high And I would you know if I can get this price I would well That's not a very motivated person if that price is way high and you kind of know kind of how where to go with that You know, well, sir. Here's the actual price. You know, do you actually want to sell? You know, it doesn't really sound like you do Or he might say my daughter's graduating college in three months We don't need the extra bedroom when she leaves. We're going to downgrade. We want to live on the water and That's what it is. Oh Great like that's more motivation. They may not be in a hurry, but still Right based on the story guys if you can get people to tell you stories They didn't wake up one day and say I want to buy something. I want to sell something for no reason There there's something going on in their life That's causing them to make this decision and when you can when you can figure out what that is That's when you've really started Started to make a connection and if you can relate to the reason the real reason behind why they're doing this when they open up to you And tell you that story. That's when you know that you're heading in the right direction, right now Here's what I would do though Tanner. I would be like, hey Ricky Hey Ricky, you know and what what company are you with like what are you saying? You're at a company or anything? You're just saying hey, this is Tanner. Yeah, just Tanner. Yeah, are you using your last name at all? Or are you okay? It's a it's a I mean come on, bro. It's it's an incredible last name So I would be proud of that name so But like what I would do is I wouldn't necessarily go straight into the prop about the property Right, I would kind of chop it up a little bit because what I'm trying to do here ladies and gentlemen is collect data So when I when I throw out a question or a response of some sort I'm to my prospect. I'm listening. I'm trying to hear how they're gonna answer it, right when it comes to speed of voice Tone, are they up? Are they down? Are they busy? Are they talking fast? What kind of their personality? What's going on here? I can learn all that by just listening to how they respond in the beginning So when I say hey, Mr. Johnson number one, I'm gonna say that with enthusiasm Hey Ricky Because what I want them to do guys now hear this what I want them when they answer the phone and they hear me say Hey, Ricky, I want them to think who the heck is this But nada who the hell is this? I don't think like who in the crap is this but man this person sounds familiar I want them to think who the heck is this is it is this Johnny is this is this a little bo peat Is this is this my cousin? Is this my cousin is this my you know best friend from high school is this Johnny So, you know, it's like hey, Mr. Johnson, you know, hey, Mr. Johnson. It's Tanner. How you doing today? Right, and they're like, oh, I'm doing good now a lot of people say don't say that part the how you do it Oh, we don't know them so you don't have the right to ask them how they're doing. Well, how am I gonna? Beginner how am I gonna get to know them if I don't know how they're doing? That's ridiculous But anyway, I can go round and around with like the mainstream the gurus the this and the that's I've been around the block with all those guys Face-to-face and on videos and stuff But I want to know it listen it comes from a place of genuine curiosity like I want to know how they're doing I really want to know because if I can't establish that then I I'm so genuinely curious about how they're doing. I hate to spend so much time on that part But it's so so key because listen to me Hey, Mr. Johnson, he responds and says hey, I listen to that. I'm like, okay. I'm collecting data cool Hey, it's it's Tanner over here. How you doing today? You know and he responds. I'm listening Since you're not saying a company he may respond with Tanner with who or who Tanner? What are you doing blah blah blah? You can answer that however you want to and then move into I like to talk about the weather. Oh Cool, well listen, I'm enjoying the day. Isn't it gorgeous? I'm listening for his response. I'm collecting more data before I even get to the sales part of the call at all I've had so many data collection points already Before I even get to the actual part where I want to talk about what I want to talk about And so now all the data I've collected about how I think he's doing today and how I because I've made so many calls that As soon as I they answer and I can hear that first or second response. I know how the whole call is gonna go I've already I've already been there done that And then I'm gonna go into listen. I don't want to take it too much of your time today Now I'm respecting his time. I'm not asking him if now's a good time if I ask and he may say no It's not a good time. Well, why did you answer the phone? Like why did you answer the phone then if it's not a good time? So I don't have to ask him if it's a good time I know it's a good time because he answered but I still want to respect his time So I want to I want to make a statement. Hey, I don't want to take it too much of your time but I Saw that you were tinking around on our website or whatever about your house I was just calling about that and seeing if you're still interested in possibly selling Right, and then I like what you did after that you went into trying to investigate and do discovery On why they're thinking about selling so that's cool. I appreciate it. That helps Just just listen slow play it roll like slow rolling Like and if you go in there slow and they're like what what what do you want? What what's going on? It's like well, hold on sir like I'm just calling you to see how you're doing number one I know you have a house here that you might be interested in selling That's why I was calling if you just want to get to the point see when people react that way Then it makes me react a certain kind of way Because I know that I'm here for them Okay, okay, sir. Well, listen, I'm calling to see what I can do to help you today It sounds like you're having a really bad day So what can I do to help you man? You know Like I love running into those type of people that want to try to stereotype me as somebody who's just trying to be a Taker because I'm the exact opposite and I'm ready to stand up for that See when you when you when you're when your intentions are so Pure to try to help the other person you get into a place where you could care less What other people think and how they're going to react to you because if they react to you negatively I'm gonna bring it right back to them because they don't know me I'm here to help them whether they want to believe it or see it or think it That's what I'm there for and I'll fight with them about it If I have to and I've won a lot of people over like that because they realized wait a minute this guy Just trying to help and then a lot of them, you know that are in that mindset They're just stuck. They'll just never believe that people actually want to help other people But that's okay Right because it becomes a numbers game forever so have confidence in Your intentionality for the call 100% 100% and based all your questions off a genuine curiosity exactly walking every call not given an absolute Flying shit what anybody thinks I was gonna say another word, but I didn't want to go that far with it That's right I I Used to I used to not be there I used to work till 10 11 o'clock at night every night I worked 15 hours for 15 years and I loved it dude I mean I was doing what I love to do so I wouldn't go back and change that at all But you do get to a place where you know, I have my daughter's three and you know, I Want to hang out with the family and I can afford to do so Plus you plus you learn how to be more efficient, right? You learn how to get more done between nine to five You know as you become more experienced and you've tried you you've you've a be tested You know activities that produce results if you if you're a good adapter Then you get to where you've built machines and systems around everything where you actually get a lot more done There's four keys to success There's believe you have to believe 100% if you believe less than 100% if you believe 99.99% It's chances are it's not gonna work There's work hard Right, and so a lot of people believe but out of the people that really believe not very many actually work hard behind the belief They believe all day long, but they don't put any effort or execution behind it or they're not consistent So you got to believe then you got to work hard then you have to adapt So, you know a lot of people believe you know Very few believe and work hard and then out of that group that believe and work hard not too many of them also adapt So they just keep doing the same stuff every year and they just keep making the same money And they never really expand or grow their business because they're not adding They're not testing and adding and being more efficient to what they're doing and then the fourth key is patience In 2015 I made 600 grand as an agent the next year I wanted to make a million dollars and I said hell here's the plan I'm gonna make this many calls to go in this many listing appointments and get this many listings and close this Many deals that's gonna equal a million dollars boom January 1st. I started executing the plan by March I realized I'm only gonna make 50. I'm gonna. I was only making 50,000 a month. I'm only gonna make 600 again I couldn't do that big of numbers to scale up to that point and I was like as Depressed as someone can be making 600 grand that year, right? And so I went out and hired a coach and the coach basically just reinforced it without everything I was doing was right and That was the year I had to learn patience. So up to that point. I believed I worked hard and I adapted But the part I was missing was patience And it took me to 2017 so 14 15 16 and then finally 17. I hit that mill And so what I had to realize in 2014 that I'm doing everything right I just need to keep pushing forward and I will eventually get there and it took three more years. That's a long time All right, that's a long time But you know, you have to you have to play the long game guys. It's such a long game But when you look back after you hit it, you realize it wasn't that long It just feels long when you're in it, you know, that's a really good piece of advice I can agree with that. I did 13 years in the army. So like it felt like a long time for me waiting to get out And I got out and I was like really that was And and and and then and like when we get into that part of the conversation We get into the part of the conversation where we become we get into our 60s and 70s and 80s Where we're getting to the end of our life Right and then and then shit gets real And then you realize okay, like my whole life was a snap of a finger. Welcome to the call I agree with some of the stuff that you said earlier in the call Um, I too don't really like to flip and I have never done a true flip I'm usually more of like burn or buy and hold But I was just curious what your percentage breakdown is in your business as far as How much flipped you do versus buy and hold and what else you do like I've done I've dabbled in a little of everything. I've done a Deal with naming. I've done a little lending. I've done Flipping our own rental properties where my husband and I are sweet and hammers and painting and We're still married I uh, I pretty much flip a house a month, I guess on average I'll normally have like maybe like three to five happening at once Just because they kind of overlap each other, you know with buying them and renovating them and getting them on the market and stuff and like right now I've got some of that are kind of sitting on the market You know that should have sold But that's okay, I'm in them really good, you know when you buy stuff at the courthouse You know you get a good deal and I make sure I'm buying stuff, you know really cheap And so I have my stopping point on the auctions and I don't I don't go out and you know Prospect to to flip houses You know, I just buy them at the courthouse. That's easy I see I see them coming up and I can check them out and see what I think they're worth See what I'm willing to bid pay cash for those see see guys in 2003 and four and five I made a mill as a really, you know my young my my early 20s and I took that money started flipping But the problem was I I was leveraging to flip so I buy a house Going to debt flip the house buy two houses going to debt buy four houses sell those going to debt and I would keep flipping And then when the market crashed I got caught I had about a million and a half worth of debt And I did that's how I lost everything I own they took my house They took my car I was sleeping in a car that my friend gave me sleeping on people's couches Eating out of people's refrigerators roofing houses and working on an oil rig and serving tables And so I'll never borrow money to flip a house ever again That's fine. If you guys do I'm just never going to do that. I don't have to I have cash And I'm going if I'm gonna flip a house if I'm gonna if I want it to do a short-term Profit that's where you can get into trouble. It's more risky and I'm not gonna risk That situation now if I get but the cool thing is is if I buy a flip and I paid cash And I do get caught I can rent it out and take out an equity line And then take that tax-free money and go buy and go buy another rental. So I win either way, right? But again, I'm not a big fan of it. I would rather Do something else with my money buy, you know long-term rentals and stuff and not flip but uh, yeah, I'm gonna really do about one a month and then I don't know like personally I probably buy 20 30 doors a year Something like that do plexus for plexus single families commercial buildings stuff like that So but now I'm getting into syndication stuff I mean, I'm you know my goal this year is to buy a hundred million dollars worth of stuff And I mean I'm looking for deals now Florida, Alabama anywhere in the southeast really 10 to 100 deals. I mean 10 to 100 units anything I can find I'm looking at I'm underwriting And that the problem is everything's overpriced right now I mean, it's like you're you're the luckiest man in the world if you find a six cap It's like six is like as big as I've found lately And I've looked at a lot of deals and the numbers just they're not that great at 6% cap On these deals and I remember the days where you know, you were looking at 7 to 10 percent caps You know those numbers weren't great. You're looking at 8 or 9 cap on something You just don't see anymore just because prices have went up so much. So we'll kind of see what happens You know as this interest rate thing hits the commercial market with the adjustable rate mortgages that are sitting out there Maybe we'll see some deals. I'm hoping we do, you know, we'll just kind of have to see how it all plays out, but That's kind of where I'm at right now as far as my balance between flips and you know rentals That's sounds Like you're diversified well in real estate. Yeah That's the whole point the flips and I mean, that's kind of what I've done Might have been more burrs by and hold and now I have a couple of properties that I'm doing medium-term rentals So travel yeah thing and then some lending also, but I just For the last three months, we really haven't you know done much of anything. We've been just taking it easy But anyways, I don't blame you, you know, I don't blame each like let's let the market settle Figure out where we stand, you know Yes, no need to be in a hurry You know, but I mean just to give you my two cents on the market, right? So every single year inventory skyrockets and then plummets every year since 2000 I mean if you go back back to 2014 it skyrockets plummets skyrocket plummets and it's went up this year Just like it did you last year in the year before nobody talks about that and now it's trending down And we're gonna see it come down and we're only half of where we were pre-pandemic and it's fixing to go down We're gonna have a massive inventory shortage Massive and demand is still extremely high Especially I mean if you look back to 2008 were double the demand we were back then with less than half of the Supply it's nuts the situation that we're in but I don't know guru on earth That thinks that inflation is gonna be the same or go up everybody's basically ingredients that it's coming down as it comes down 30-year fix will come down because it follows inflation and the 10-year treasury and And so what we're gonna see is buyers come out the woodworks once it hits a level everybody's comfortable with But as buyers are waiting on that to happen Inventor is plummeting so once all the buyers become comfortable and come out the woodworks There's not gonna be any houses for sale and everybody's gonna be fighting over the same house We're gonna be right back on the same problem. We were two years ago so the only other X factor is Wage growth if it stays over 5% inflation goes below that it could create a Second wave of inflation because people are spending more I think that's highly unlikely because feds are gonna keep rates up until they get a hold of wage growth But the only other thing is ibuyer the the inventory ibuyers are sitting on if they unload that property people think that that could be a negative impact on the Housing market I don't see I think it would be a positive impact because we're so in need of inventory I think and we're only talking about select cities like there's no ibuyer inventory here I am but You know select big cities that have a large inventories of And I say large like they made up like 20% of the you know of sales last year Okay, that's not 20% of all the homes in America. That's 20% of last year sales Right so that we had five million sales. We're talking about a million sales So a million you know households in America out of I don't know how many households there are but you got 350 million people in the US We're talking about such a small percentage It's almost like a microscopic dot in the whole scheme of of everything But if they flooded the market with it, it would do something I just think buyers will be happy because there would be choices Agents would be happy because they would have something to sell sellers would be happy because They're waiting they want to move to their dream home, and they can't find it. There's no inventory, you know, so I Don't I don't see It's very Specific to the location places like Phoenix right now, you know, it's being just like swamped with Sellers right now and a lot of people there they did a lot of building and now there's no buyers because of the interest rates and then a lot of Yeah, people their own rental property are starting to just sell because oddly enough Rent is going down Yeah, it went up so much. I mean, you know just went up so much, but you know buyers I think need to take a look around right now and think two-to-one buy downs You know take 2% down on the first year 1% on the second year or even 321 There's 321 buy downs 3% less or if you don't like that you can get a 1% permanent buy down and go out right now where there's no Partition from other buyers sellers are willing to negotiate you can even get the seller to pay for the buy down and go out there and get something at a Five or even a four percent interest rate Right now and go ahead and you know find what you want Before interest rates come down an inventory comes down with it and all the buyers come out at once because you say there's no buyers And you're right. They're not buying, but they're still there. It's just it's just Pin pinned up like it right now. I get that some buyers have said, okay, let me make adjustments. Okay, the market changed Let's just not buy for a couple of years There's plenty there's definitely plenty of buyers that we're gonna buy that made it made Arrangements that they can hang out for a year or two Somewhere else and they're off the table. So I get that it did kill some short-term demand permanently, but They're still so much demand Ridiculous demand Right, so I just I'm excited about 2023 This is what you guys need to do. Okay right here You you need to look at worst-case scenarios Think about worst-case scenarios. Okay, so like in our mind. Okay prices go down 50%. Let's just think that good I would all of you agree. Maybe that could be a worst-case scenario like Complete worse could have get any worse than that 2000 2008 was 50% right, so that I mean 50% would be like An atomic bomb hit the market and this is worst-case, right? Right. So we know one thing. It's never gonna go to zero Never gonna go to zero and it's never gonna there's there's gonna be closings every single day by the truckloads No matter what happens for the rest of our life every single day 9-11 2008 Dot-com crash Pandemic closings happen every single day through some of the most scary moments in our in our history economic history There's nothing to worry about there. It's just a matter of how you're gonna capitalize And so from the back of your mind You're always looking at what the worst-case scenario is and then you visualize what you're gonna do if worst-case happens to crush it Then now you're not worried about anything because chances of worst-case happening is so Slim and so if you're prepared for that and it's better than that then you're really gonna crush it And so that's what you all need to do. So let's think about it prices go down 50% Okay, prices go down 50% what then how do we how do we maximize? How do we capitalize on that? Well, if you're a real estate agent, how hard is it going to be to sell properties at half price? You'll have less buyers But the buyers are gonna be extremely happy about getting in houses for 50% off, right? What's selling in 2008 when prices were 50% less and let me tell you something my clients were happy and They and they weren't hard to find Hey Real estate's half off anybody went in Yeah People come out the woodworks. I don't care how about the economy is Um Investors, what are you gonna do? I tell you what you're gonna do You gonna buy some property if it goes down 50% you're now an owner You're not you're not an investor anymore. You're an owner. You're gonna own a bunch of property. All right If you're a buyer, you're happy if you're an agent, you're happy if you're a seller You're happy because now you're you're wanting to upgrade Go upgrade And if you're a seller and it goes down 50% you're not interested in and upgrading that means you're not selling so you don't care You know in five years, it's gonna be worth more. You know in ten years. It's gonna be worth more You don't care if it goes down this year. You're not selling So you see guys worst-case scenario, it's fine. It's not a big deal Now it's not gonna happen. So then what? Well, if we're prepared for worst-case scenario and and it only goes down 5-10% Then we're really gonna crush it Are y'all with me? all right, so Again, I don't know you guys Really well or you know as far as individually and the people that haven't spoke and stuff like that I don't know if you're optimistic about the market pessimistic about the market or what your stance is on everything and And you know if anybody has any last-minute thoughts or feedback or comments now will be the time Beautiful thanks Ricky for coming out man. This was awesome dude. I really appreciate that Things you hit the different points selling the agents the market like there was a bunch of information I was squeezed out of you in this quick hour. So I really appreciate you for coming on pouring into us sharing the information and Making yourself available Everybody go follow Ricky on Instagram See what events he's going to where is he gonna be at like he said? Oh, you'd love to meet you check your hand talk to you at the event So nothing like meeting people in person these are cool But there's nothing better than meeting somebody in person and do some business that way and also make sure you Ricky Where can they send these deals to they find 10 to 100 units in Florida or Alabama where they send the deals to you Yeah, if you guys find a deal or have a deal off market on market anything You can send it to me on Instagram if you want to or you can email to me Ricky at zero diamond.com I get a ton of emails though So it's hard to kind of sift through Some of that if you do try to send me a deal just put capital RRR in the subject and I'll try to see it like that I'll I definitely see every Instagram message though Yeah, so If you if you if you email me something then send me a message on IG and say hey I just emailed you something and that way at least I'll see that you email me something I'll go try to find it or whatever. All right. Awesome. All right, brother. Thanks again for coming out man Thank you everybody for showing up. Let's keep building this community keep connecting because we make money with the more people We waste our time with all right later Ricky Love what you guys are doing man great questions and I really enjoy hanging out with you guys a good group So I'm looking forward to coming back later on in the year or something we can chop it up again. Absolutely. We love it I'll be in touch. All right guys