0:00

welcome to bigger pocket show number six

0:02

twenty eight just keep in mind

0:04

that if you're on this path to quit your job

0:06

that you need to keep what

0:08

you're doing in focus and

0:10

keep the scorecard that running

0:12

scorecard like people say as an investor

0:15

you should keep your scorecard of your of

0:17

your personal financial statement right you track

0:19

your net worth i think should also track

0:21

your hourly rate like the more money

0:23

you start to make from side hustle things you should

0:25

continue to update that hourly rate

0:27

and kinda keep that in front of you so

0:29

you can see where you might hit

0:32

that threshold of like all right might be time

0:34

to start thinking about transitioning

0:36

over from onto the other the bigger pockets

0:38

real estate podcast show it's all about you

0:40

the art of investing in real

0:42

estate and hopefully achieving financial freedom

0:44

one day whatever that means for you whether that means

0:46

quitting your nine to five job or having an entire

0:49

portfolio that sustains your lifestyle

0:51

we're here to show you how to do that and i'm joined here

0:54

by my good friend and co host henry washington

0:56

how you doing man boom what's up buddy

0:58

glad to be on the microphone with you again

1:01

you're like my

1:02

like unofficial twin or stories

1:04

are how's your the millionaire were spirit animal we

1:07

we basically look exactly the same

1:09

and so i don't know how people don't get

1:11

us can seized more i know man i know i have

1:13

added some of that the airport in the do like are you

1:16

you know like your bra bill millie know henry washington

1:18

another like know what do people keep in

1:21

touch , new with you man a man

1:23

life is fantastic i

1:26

am enjoying kind

1:28

of throwing and stealing my business

1:31

we kind of got to this kind of you know

1:33

cooper get off the pot moment with my business so

1:35

we've been growing and scaling and and have

1:37

taken this entrepreneurship to the next level

1:39

so was signed can get to talk to you

1:41

about that whole journey on this episode i know

1:43

man this is it's very eerie because you

1:45

i have very similar stories you know

1:48

we are we both quit job about

1:50

year ago it sounds like and

1:52

yeah lot of things really lined up for us i'm

1:54

excited sexy get into it because when

1:56

we talk a lot emery with time matter backstory

1:59

you know for think that you'd need to know before you

2:01

quit your job think that you should be

2:03

aware have like mental health insurance

2:05

people judging you taxes

2:08

all that kind of stuff and then we really

2:10

wanted to end this episode this think with actionable

2:13

tips for people at that really

2:15

are set on quitting their nine five job

2:17

hannibal think that they could do to

2:20

to cut move towards that path forward some your

2:22

favorite parts about today show or so

2:24

i really really enjoyed talking

2:26

about some of the the and sexy

2:28

things with quitting your job

2:30

that people don't talk about right everybody

2:33

talks

2:33

about all all the fun stuff, right? like you get

2:35

get all all this time and and then then you can can pick take their time and

2:38

you you can can make a a bunch bunch more money and then and some

2:45

of the expensive stuff like taxes

2:48

suck and so you you need need be prepared for it

2:50

and yeah, health insurance

2:52

is is expensive and you need to to have

2:54

that as well as was a a well time, cough i i like that

2:57

health , meeting myself

2:59

everytime, i cough i've got

3:01

this man yeah but man but

3:03

please things are things people need be be aware of

3:05

as they prepare for for this, this

3:08

part of their journey in their life

3:10

and and so so i i love that we were were able to touch on some

3:12

of of those those things that like people don't talk talk

3:14

about and 15, second videos on on instagram about

3:17

about the good stuff in and the fifteen seconds but the

3:19

not not the the bad but tell yeah before we we

3:21

jump into it let's jump into our

3:24

would you can be brought the audience by sir henry

3:27

washington himself today

3:31

is toccoa and and check out the on

3:33

the market podcast on on

3:35

the market we focus on talking

3:38

about actual current events happening

3:40

in a real estate space and how it's

3:42

affecting our businesses what we're doing

3:44

or what we're not doing because it's thing

3:46

so we talk about things like inflation higher

3:49

interest rates and how that's affecting the real

3:51

estate space and what we may may not

3:53

be doing because of it's so go give us

3:55

a listen we've got myself

3:57

cathy seti james dean aired

4:00

jamil damn z and it's houses in

4:02

right where gushing over him alone is worth

4:04

it mean there's a little bit of man

4:06

for a sentimental and mills as like

4:08

the got that good at the right business

4:10

people who just do everything well

4:12

and then like that that guy's good at all the

4:14

fans right image

4:17

the data daily man that the data guy himself

4:20

they admire is hosted a so and it's a ton

4:22

of months ago give us it go give us a some

4:25

views some likes some

4:27

comments and some shares awesome and

4:30

okay next applets year from today show

4:32

sponsors

4:33

20% roi investing

4:36

in turn-key, rental sound attractive did

4:38

know you can use a strategy with new construction

4:40

that has a media equity? rent

4:42

to retirement offers fully turn-key properties

4:44

that are newly built, or least

4:47

and manage allowing you to invest with confidence,

4:49

out-of-state they have single-family multi-family

4:51

a new-build and syndication opportunities

4:53

across multiple markets, that maximize

4:56

cash flow, appreciation and equity rent

4:58

a retirement, assisted investors

5:00

in learning how to build a comprehensive business plan

5:02

with the bed investments and tax strategies

5:05

to achieve financial freedom through real estate

5:07

investors millionaire you quitter

5:10

will a being one you how a being

5:12

quitter one being make millionaire

5:15

one quitter make a a a

5:17

one how one quitter

5:19

make a quitter one will

5:22

a one one one make one

5:24

a one a a millionaire

5:26

one you one one make one

5:29

a one will make a how you quitter

5:31

one being one being quitter quitter

5:35

every real estate investor is trying to find properties

5:37

with most potential to find

5:39

the hidden gems that could bring you cash flow

5:41

appreciation or commission check youll

5:43

need the best property data around and

5:45

with so many resources out there becomes hard

5:47

know which ones will be worth your time let

5:50

me make it easy for you prop stream dot com

5:52

is the only software you need this

5:54

all in one tool has everything

5:56

you need to find qualified leads build marketing

5:59

lists and make

6:00

keep its deals up

6:02

to they they to for over a hundred

6:04

and fifty three million properties nationwide

6:06

a just and investors long properties

6:08

because they can combine hundreds estate filters

6:11

to narrow down results and quickly

6:13

find properties that filters that careers

6:15

properties investors mobile a to help

6:17

you work on go its dot about trying

6:19

or several a three trying head over to millionaire

6:21

millionaire million that propst three dot com slash

6:23

been that to millionaire being of you

6:25

dot power are over estate are

6:27

a a and dot com slash fifty

6:30

find better long close more deals and unlock

6:32

your investing potential with the power of propst

6:34

three or with that just i time

6:37

estate in have man you its really crazy

6:39

for that i have been a full

6:41

time real estate investor for

6:44

just over a year for about a year

6:46

and three months are so have up you

6:48

now really crazy one i have

6:50

been full time real estate investor

6:52

for just over a year make a

6:54

year and three months so that trying trying

6:56

a we found its our now to long ago that

6:59

we both quit are full time

7:01

careers or now to five in

7:03

april of long year i twenty twenty one

7:05

absolutely man

7:06

though i think what we wanted really impart

7:09

on the on the

7:10

the audience today is sort of our thought process

7:13

like our evolution things that we went

7:15

through and or know maybe some some actionable

7:17

tips on you know what you

7:19

can actually do to bring you closer

7:21

to taxi quitting know to five job

7:23

because it sounds that sounds amazing

7:26

that is question i've been getting since

7:28

before getting even quit my job as people

7:30

asking me whenever said quit so let's do

7:32

it yemen me this is really big topic

7:35

in it's something that i've actually talked about on

7:37

on the youtube channel

7:39

many many times because i just honestly

7:41

wish what was quitting my job there is content like

7:43

this like don't think enough people really

7:45

, stuff out there because lot people are very

7:47

scared to our a be vulnerable

7:50

about how scary it is in

7:52

you know there's like also the financial component which

7:54

is a little bit taboo but i'll be really

7:56

up front and say i had

7:58

i good career i've always

8:00

loved the korean i was in was a creative copywriter

8:03

in the advertising industry and

8:05

i worked my way up and i was in the

8:07

industry you know i would say

8:09

seven so years of the include

8:11

like internships and stuff and i was

8:13

making hundred and ten thousand dollars at

8:16

my job so it really it wasn't

8:18

wasn't gig riot and when you combine that

8:20

with my wife's salary i think she she was

8:22

a teacher in california shoes making

8:24

like seventy five thousand dollars a together

8:26

hearn

8:27

i were both making about one hundred and eighty five

8:29

thousand dollars which you , in california

8:32

obviously there's some living expenses

8:34

that that go into it but we're really comfortable

8:36

like we didn't have any reason to actually

8:38

quit yeah man it's it's super funny

8:40

cause i similarly was

8:42

in role that i truly enjoyed

8:45

enjoyed was actually working in the

8:47

real estate industry i was an asset

8:49

manager for an apartment fund

8:52

and so i was getting an education

8:54

in large scale real estate and getting pay for

8:56

it i also was making a hundred

8:58

and ten thousand dollars a year in my

9:00

wife and israel haired man like crazy

9:03

like everything lined up for both of us my

9:05

wife was making about eighty

9:07

five thousand at the time and so

9:09

we were we were both very similar both and careers

9:11

that we liked and so possess making

9:14

that decision was struggle and some i

9:16

love being transparent love sharing with people

9:19

like the how's and why's of that that we did

9:21

it and hopefully they're summer there some

9:23

gems people get from it's italy so what is

9:25

wife's the working out no the working retired

9:27

hers who

9:29

are three months after i retired oh

9:32

wow okay cool yes my wife is also networking

9:34

now as well i mean seat once get back

9:36

into it and will talk about this in little bit because

9:38

like you know is beautiful

9:40

is quitting you nine to five job is i

9:42

did you want make it known that

9:44

know henry and i were best case scenario

9:46

like things have really really worked out for us of this

9:48

is not saying the day the

9:51

day you're gonna quit your job if could have the actually work

9:53

for it you know yet the earth and you're right passage year

9:55

and i think you and i kind of did mean for

9:58

me i was making a one

10:00

hundred and ten thousand dollars at my job and

10:02

i'd always been developing my air bnb

10:04

portfolio and just by the way small

10:07

caviar i'm , toss up numbers i'm

10:09

very finance a transparent you know i talk

10:11

about this a lot on the youtube channel like i don't hold

10:13

back on this just because want people

10:16

to really understand where was coming from

10:18

and i want to make it feel as approachable

10:20

you know i got lot i don't wanna like hide

10:22

anything so so this another

10:24

flexor eating like that right with that

10:26

the working on my air b and b portfolio

10:28

for about four years at

10:31

that time and i'd really built it

10:33

up to the point where was making about twenty

10:35

five thousand dollars a month in

10:37

net after all my partnership split

10:39

after all bills and everything like that that was like my

10:41

take home and ,

10:43

top of that i would also started developing

10:46

all these other sides of of into

10:48

like all these income streams like side side hustles if

10:50

he will end when started

10:52

to add everything together have distorted

10:55

sort of realize that

10:56

was actually making lot more money with the other stuff i

10:58

don't know about you but for me was like oh yeah it's

11:01

at very least i was breaking even yeah no

11:03

it was very similar for me and so

11:05

i kept my job as

11:07

long as humanly possible a

11:10

not only because i enjoyed it but

11:12

you know you do the air bnb strategy

11:15

i'm more of long term buy and hold

11:17

guys and i love using small

11:19

local banks and one thing banks

11:21

love is love

11:23

good old nine to five same

11:25

length of stay one of the rent nine at of

11:27

by right they wanna see that nine to five

11:29

income and so income knew keeping my

11:31

job was gonna help me continue

11:33

to be bankable insults that

11:35

was always on the back

11:37

of my mind and so there

11:40

, some strategically if will

11:42

around erm i will

11:44

around has around how

11:46

long i kept the job because that's the

11:48

strategically there was i wanted my llc

11:51

to have been profitable for

11:54

at least two years so

11:56

that could that least show that i've had

11:58

the profitable income in the llc but the senate

12:00

if and when i did decide to leave my job

12:03

that i had that

12:05

track record and provide them that

12:07

level of comfort ability oh that's actually that's

12:09

actually really hey you get useless to say that of am

12:11

against the actionable tips but not as

12:14

clear that very good one so i

12:16

guess i'll tell you little bit about my story and story

12:18

and you know can tell me about yours but

12:20

i was making really good income and

12:22

i calculated it out and was just realized

12:25

that while was making i guess

12:27

one hundred and ten divided by twelve about

12:29

nine thousand dollars month in in that

12:31

job of his making like

12:34

thirty five forty thousand when he added

12:36

up all my side idols

12:38

and i just feel the like oh my

12:40

gosh i can't possibly make

12:42

more money with all my side

12:44

hustle my real estate business until i

12:46

get my kind i can my forty

12:48

hours week and was so scared the one thing

12:50

that was really hold me back was

12:53

well i guess like right let me right backtrack

12:55

so i'd backtrack so been tell my wife

12:58

for a bit and she's like just do it is unlikely to

13:00

it and so i have a remember i said resume

13:02

meeting with my bosses it because

13:04

what it is adjourned the pandemic damn

13:07

it i was gonna quit and so like soon

13:09

as they both got on like one

13:11

bosses try to make small talk and like he

13:13

could just tell that something was wrong and

13:15

then other boss finally joined and then as

13:18

like okay i

13:21

am i brought you here and there

13:23

like my god are you okay and like

13:26

the authority any the second it's

13:28

hopeless senate or like crying

13:30

like and by the way of every every

13:32

time i've ever quit a job i always cry but

13:34

this cry with special because

13:37

i was so scared and they're like oh my god

13:39

is everything okay let's see how

13:41

then they're like oh okay well worth

13:44

up and asics liquid

13:47

and they're like oh think oh

13:49

think hard to find you just quitting and o's

13:51

like skills and they're like

13:53

are you gonna be

13:55

o k like financially

13:58

casino of is is like crying and they

14:01

make way more money doing everything else

14:03

and they're like you gonna be fine obviously

14:06

you were gonna quit of we don't even know why you're still

14:08

here should have put long time ago

14:10

we've been watching your teeth all we know themes

14:13

with my these things as you know like they are very

14:15

reassuring and so i remember

14:17

you know after our wives all the tears away and i said

14:19

think you guys over the best bosses ever had called

14:22

my laptop and was like this

14:24

is this is the greatest release

14:27

i've ever had and it will i

14:29

was a new man i really was like it

14:31

was crazy feeling you know school

14:34

, stories are so similar it it

14:36

it is i'm tammy tammy

14:38

i had of i'd have a similar experience

14:41

by so

14:43

i knew it was time to go and

14:46

well i thought i thought i figured

14:48

i should start figuring out if it was time ago because

14:51

i had my boss

14:53

who are again we're talking

14:55

full transparency right and so my

14:58

boss reached out to me and was like hey bud

15:02

i think you need be putting in little more effort

15:05

than you are in i had dropped ball

15:07

on something and and

15:09

so are gonna get called out and then it's

15:11

like kind of took personally was like a zipper

15:13

and i took job at my job like i felt

15:16

i felt like so i took a person when

15:18

them when took step back and i like

15:20

took my emotions out of it and looked at what was

15:22

saying from like that will that's

15:25

probably fair rights but

15:27

him saying hey i need to put in more

15:29

effort triggered me to start

15:31

thinking now that had all this

15:33

other income coming in does

15:36

it make sense for me to give

15:38

you that effort should

15:40

i give to myself and that's when started

15:42

to do the math an hour before

15:45

even started to do the math similarly what to my

15:47

wife and she was like gets his quit because

15:49

like ah that's , they always

15:51

say they like how are you side effect

15:53

of fish and ethics and

15:55

so yeah and so i did math and as

15:57

math asset doing the math are basically just broke

15:59

it down the like what is

16:02

my time on my own where

16:04

am making an hour essentially versus

16:07

what am making an hour giving my my

16:09

company more time that i was working for

16:12

and it wasn't even close rob

16:14

lowe it's like it and can that's when

16:16

knew like i was like i hear that you

16:18

want more my times but it's

16:20

literally gonna cost me money and so i

16:22

had the same meeting

16:24

with my two bosses and

16:26

erm and i told them the

16:28

hey i'm gonna go go go out on

16:30

my own and and continue this this

16:32

real estate past and they were like more yeah

16:35

yeah yeah you to do that pay

16:39

a little i've ever interviewed the voice

16:41

we're quitting to be gets like the if

16:43

you're working you're working estate like you for example they

16:45

know that you're making much like they know that

16:47

you're doing multifamily they're probably watching

16:49

the journey it's like i'm huge you can i

16:51

talk about

16:52

finance like very in depth and i know everyone

16:54

at my job as like i

16:56

don't understand why you're here and i'm like neither do

16:58

i honestly like it was my goal

17:01

the exact same it is like

17:04

be a terrible employee where

17:07

, is it's a red and like with

17:10

perspective thou because it's like it's is

17:12

a solid income you know and was like well if

17:14

like well fired i'll get severance but

17:16

i'm just gonna hold onto the security while i

17:18

build all this other stuff in the

17:20

one thing i had gone for me is the

17:23

good report my bosses at the liked on

17:25

my team all that stuff so even when i was

17:27

sitting at my job there are like spell with

17:29

the like it's all getting there are some very

17:31

thankful for that you know think for

17:34

us have gotten here for

17:36

anyone who wants a quitter nine five job i think that there

17:38

are really like for things that are needed

17:40

the quit your job i'm in obviously

17:42

like albeit i'm sure we could spit out like ten different

17:45

things i wanted to talk about a few

17:47

these things because me first

17:49

, foremost and i think on the same page here

17:51

spousal approval right like we need to

17:54

add to the wives need to be on board

17:56

that would you agree with that a one

17:58

hundred percent

18:00

this is not marriage counseling episode

18:02

but i promise you your life will be exponentially

18:05

better yet if you get past spousal

18:07

approval one hundred

18:09

per cent now i and and i get

18:11

it right like some people its going be more

18:13

of challenge than others right some peoples spouses

18:15

are already bought in in some arent

18:18

um i was fortunate enough

18:20

that my wife was all

18:23

in from day one and so

18:25

that eased the entire

18:28

investing journey for me um

18:30

and so i i you know i i literally wouldnt

18:32

be you know sitting here talking you

18:35

if she hadnt been on board

18:37

um in i've

18:39

had people say well you know how do i get my

18:41

wife on board right house like what's that

18:43

what's the practical application for their and i

18:45

am not a no and no one can tell you how

18:47

best to to talk to your spouse press

18:50

but it's spouse so you probably

18:52

now the best way

18:54

to communicate to them right you probably

18:56

know everybody wants in any conversation

18:58

where you're talking about needs is

19:00

always an element of what's in it for me right

19:03

and so think about what your

19:05

how your spouse less to be best communicated

19:07

with in the what's it for me and

19:09

you have conversation and sometimes you'll have to have

19:11

more than one right in different ways but

19:14

don't get discouraged you know if have

19:16

very first conversation and gets shut

19:18

down that happens for lot of

19:20

people it doesn't mean that you can't continue

19:22

work that to were several times do you

19:24

know like not just yeah i think that's

19:26

okay i think there's

19:28

a good and bad thing about

19:30

any marriage it is like if you have good

19:32

partner they should be keeping you

19:35

accountable and they

19:37

should disappear a yes man or yes women right

19:39

like if you give them an idea if they're supportive

19:41

most a tender going say yes but if is crazy

19:43

idea it's their job to be like hey

19:46

that's little crazy we should talk about

19:48

this and that there's nothing wrong with that think there is

19:50

release pivotal moment for my wife and

19:52

we're on the couch during the pandemic and

19:55

i was like what if we quit our jobs in moved

19:58

to tennessee and built and tiny house village and

20:01

she was like that's crazy and

20:03

i like i know but like at that moment

20:06

it was nighttime were sitting on

20:08

the couch we did hadn't my

20:10

daughter and she was asleep in like

20:12

my wife's arms and i like

20:14

but isn't it crazy or

20:16

to work and nine to five job in

20:18

not see or kid every

20:20

single day for as much as humanly possible

20:23

and she was like yeah guess

20:25

if you put it that way kind his and

20:27

again if you're working nine to five job that there's nothing

20:30

wrong with that but for our situation i

20:32

think it was just like for meals like we can do this

20:34

and we're that talk many times

20:36

so we got the point that this can move into

20:38

like next the second thing that you need

20:40

with his side hustle income it

20:43

got to put my side hustle like i was really

20:45

developing some outside of real estate to

20:48

right i think if you're looking to

20:51

get out of nine five you're not just trying

20:53

match your salary you're actually trying to make more

20:55

you're trying to make more because now you're ten ninety nine

20:57

effectively your self employed you no longer

20:59

have your health insurance you no longer have your

21:02

four o and came out you know it's expensive

21:04

to just match what you are getting at your company and so

21:07

i was really growing all these side hustles

21:09

for me that was content creation

21:12

for me that was you

21:14

, think oh think started consulting

21:16

as started consulting result of my youtube channel in

21:19

started charging a hundred and fifty dollars an

21:21

hour the and it turned out that you

21:23

know got booked couple times week and

21:25

then the next week absolutely booked

21:27

out into the boy or a book that month in advance

21:29

they kept raising rates to the

21:31

point where was like many hundred all i

21:33

don't remember like five hundred dollars an hour

21:35

and osuna four times day on top my full

21:37

time job has nothing it out of

21:40

i can consult more the has

21:42

i quit my job and so it was so obvious

21:44

because my wife was watching me work

21:46

eighty ninety hour weeks and was like

21:48

and can't keep doing this yourself and you

21:50

make way more money doing things that you love

21:53

think it's time and so i think

21:55

side hustle income whatever that means for you

21:58

for me again that we'll we'll

22:00

get into that a little bit later to but i think

22:02

developing eve financial system

22:05

around making money that's not your

22:07

w to because at the end of day if

22:09

your goal is to become millionaire for example most

22:12

millionaires have seven or eight

22:14

streams of income that i took that to harm so i'm

22:16

i was always tipping way about that

22:18

what about do you any side hustle that you don't talk

22:20

about often yeah absolutely man

22:22

or a again very similar think you did

22:24

something with a a furniture at

22:26

some point right and so for me

22:28

i'm i used to buy stuff at

22:30

auctions like pennies the dollar like

22:32

amazon returns and and

22:35

are you know target walmart return so

22:37

i would go bid on these things that auction get

22:39

them for pennies on the dollar then i would sell them on facebook

22:42

marketplace and craig's list

22:44

and make some extra money and so like that was

22:46

kind how this side hustle thing

22:48

became reality for me like oh wait like you can

22:50

actually generate some legitimate money

22:53

just by spending few extra hours doing something

22:55

so that was my proof concept that side

22:57

hustles work and then that transformed

23:01

i got into real estate into

23:03

consulting so a very similarly i was charging

23:05

you know a hundred two hundred fifty bucks an

23:08

hour and was getting booked up and

23:10

as i was doing that i was enjoying

23:13

the calls man and my wife she

23:16

she saw me one time after after and look

23:18

bombed and she was like hey man

23:20

why are you are you bombed and

23:23

was like i just keep answering the same questions over and

23:25

over again and

23:27

us that she was iguana she just like make

23:29

something that you can put out there that people can just

23:31

check out right and so that's what

23:33

got me started on past two

23:35

creating courses of some kind

23:38

but kind didn't i didn't they were courses

23:40

of the time like i just wanted

23:42

to save myself some time and be

23:44

an emp allow myself help more

23:46

people because if you mentioned that your calendar

23:48

would get booked up rights you can only help as

23:50

many people as ours you have the days

23:53

right and so once i got

23:55

on bigger pockets as a guest it obviously

23:58

you know do more i my

24:00

page and the amount of people that can help

24:03

it was harder and harder to help more people

24:06

when you may have thousand followers snow ten

24:08

people won't have have over the course of few months can

24:10

figure that out but as that girls

24:12

it gets harder and so put

24:14

this content out there and it started to make

24:17

make a little bit of money and it's that's that's

24:19

when started to really look at

24:23

at hey this is something that's

24:26

if i can

24:28

provide value in right way for people

24:31

at , and then provide

24:33

the scale ability i can have the income

24:36

potentially to quit my job

24:38

and so that's how the side

24:40

hustle things on a b evolved for me and

24:42

then once that income grew to a point

24:45

where our li i

24:47

was gonna be able make more for myself

24:49

then my company that's how

24:51

i knew i was gonna be able to quit

24:53

so one hundred percent it was like the side hustle

24:56

evolution for me yes yes i

24:58

mean i adnan did i say into

25:00

the same question every single day

25:02

and you know love doing it the generally helped

25:04

people but it is hard and i think

25:06

you're sort of a trap to with real estate you

25:08

know if read rich dad poor rich we start to the

25:10

united thing is you can't sell your time

25:13

for money i would quit my job because

25:15

like oh well get my time that i'll

25:17

be able to consult for four hours a day and make way

25:19

more than a was at my job but then really

25:21

those is selling time like

25:23

i just tell him i time and so even at five

25:25

hundred dollars an hour whatever even if

25:27

was booked out lol the

25:29

year in advance that forty hours week

25:32

which i would never recommend to anybody's vocal

25:34

cords like that's i don't i

25:36

think a million dollars a year which is a lot of

25:38

money but that is it that is most i can

25:40

make and so i quickly realized that

25:42

to in so it's like it ignited

25:44

aspire to keep chipping away at

25:46

this real estate fire that had so that

25:49

that can actually brings us to step like

25:51

the third thing you need to quit united

25:53

five which is proof of concept you know

25:55

we had our side hustle we had this spousal

25:57

approval but prefer cause that just means

26:00

done it i've done the air b and b thing was

26:02

good at was really really

26:04

really good at it and people saw

26:06

that i was good at it and they were offering to partner

26:08

with me and they're offering to give me their money to

26:10

go and buy a property and split it fifty fifty

26:13

like i was doing that with several partners

26:15

and for me it's like okay if

26:17

i could do this on the side then

26:20

certainly i could probably do

26:22

it full time to he i mean

26:24

is that kind of was at your put trajectory to

26:26

eight i assume it's i

26:28

based on the regular conversation as president they've

26:30

exact them fit refer right absolutely

26:32

yeah man i'm hit

26:35

, it one hundred percent was like that for me because

26:37

the the i was starting to think

26:39

through our at what's it look like if

26:41

i quit because there's obviously

26:43

a fear factor right even though you've got

26:46

proof concept i knew i

26:48

could always find under market value properties

26:51

add value to them and rent them out for profits

26:53

or southern for public i had that down

26:56

and still when it came time to actually

26:58

you know pull the trigger and quit like they were

27:00

some were and

27:03

what helped me kind one of the things that

27:05

help me get over me apprehension

27:07

was to think about like hey i've

27:09

been able to build this

27:12

able , estate portfolio

27:15

heart time homicide

27:18

while working a full time day job and

27:20

doing side hustles and i've still

27:22

been able to build this portfolio

27:25

if i just take the same amount

27:28

of effort that i put in but

27:30

now give myself forty hours

27:32

a week the continue

27:34

to put that effort in naturally

27:37

gonna be able the scale

27:39

that for at a higher rate

27:41

without putting in any more estimate the level

27:43

of effort stays the same you just have more hours

27:45

to focus their efforts on and so like

27:47

when i thought about from that perspective of like oh

27:49

with course i'll be able i'll be just fine

27:51

right and so one hundred percent of the same with

27:54

yeah for sure and mean last one here will touch

27:56

on this and you know this is really gonna just depend

27:59

on really

28:00

your financial situation but laughing you

28:02

need a the for things before he quit again

28:04

it is probably a lot more than four but for

28:06

the sake nice concise little cranky podcast

28:09

here reserves you know you wanna

28:11

have some money set aside because

28:13

you know i think not necessarily

28:15

advisable to say hey dad i was may go

28:17

and ten but when up a quick i'll

28:20

figure it out if don't have your

28:22

systems in year income stream

28:24

said you know i did skyn upright be bad

28:26

decision so get really advise

28:28

you on that and again and retired well

28:31

this well first i'm i'm saying and i say again as if

28:33

i've mentioned this before but i was do that a

28:35

mosaic again and like what would be begin

28:37

you never even said the first time without financial

28:39

advisors right though none of this is

28:41

financial advice but

28:43

i think that good rule of thumb here as

28:45

if you have like six months of reserves to connect

28:47

cover you and your bills that i was going be

28:49

a safe way go if i i totally

28:51

agree it's and i'm

28:53

you know we thought a little non traditionally

28:55

about the reserves because again that

28:57

fear factor was said again as it got closer

28:59

and closer for me to actually have the conversation

29:01

to quit was like wow wow

29:04

, going find this money and so will we decided

29:06

to do was just take the profits

29:09

of a flip that we had coming at

29:11

that we were going to close and instead of

29:13

putting that money and our

29:15

business account which we would normally

29:17

do do added benefit

29:19

we're not talking about is robyn i also

29:22

develop decide hustles so that we wouldn't

29:24

have to touch a real estate business money

29:27

or yeah so that we could keep reinvesting

29:29

that right and so because we made

29:31

that smart decision of not using that money

29:34

when i got to a point where i was ready to quit i

29:36

just said you know what i'll take the income

29:38

from this slipped and going make and

29:40

that happened to be about what my wife's

29:42

yearly salary was and us through

29:44

that in and account just away

29:47

from everything else just as

29:49

safety commission for me to know like hey

29:51

i have twelve months my wife's income

29:53

right here and so right things

29:56

don't work out things know i've got this

29:58

person and we've been living

30:00

that question for feat for for years now

30:02

so it's their it made me feel

30:04

safer it's it made it easier take

30:06

the leap we actually didn't have to end up putting any

30:08

of it but just having that reserve

30:10

there and knowing that it's there it's

30:12

gave me the confidence to

30:14

to really put my all into

30:16

the

30:17

entrepreneurship yeah for sure and there's something that

30:19

you sorta sandwiches a really great like

30:22

i want to talk about the thing that you need to

30:24

be aware of before he quit and you're sorta talking

30:26

about that forty hour work week and

30:28

now you can focus on that full time but

30:31

i saw to talk about that the want

30:33

to see the not so glamorous part of the nine to five

30:35

because it is it's a net positive

30:37

i'll say that but think they should be aware

30:40

of of it we think okay

30:42

we're going to give away we'll

30:44

get back forty hours of are week and gonna be

30:46

great when so much time but

30:49

the idea of work life balance

30:51

in i'm not to say myth but it's it's

30:53

basically it's nonexistent

30:56

riot like that they're that old adage

30:58

that's like entrepreneurs will not

31:00

work forty hours for someone else with addicts

31:02

can work eighty hours for themselves right

31:04

that's true you know i mean i

31:06

work a lot more than i did because

31:09

you know how my nine to five job as as and other terrible

31:11

employee goes like you know trying to milk

31:13

that that cow for long i could

31:15

and when really quickly realizes

31:18

quickly was really giving about ten maybe

31:20

fifteen hours of my actual time and effort

31:23

to my job which i think most people

31:25

realize during pandemic like oh don't need to work forty

31:27

hours and so i thought oh was gonna

31:29

get forty hours back really get ten

31:31

or fifteen back row and it

31:33

just turned into this whole thing where now

31:35

i'm working seventy eighty ninety

31:38

hour weeks often not not as much

31:40

now thank goodness of them figuring that out

31:42

but for the very first year you

31:45

know quitting my job my

31:47

focus was to make money and i succeeded

31:49

i was able to more than ten exit

31:51

and you know that was really crazy time

31:53

for me it's still just don't so so

31:56

freakin like fast and furious and

31:59

yeah i mean i think that if i've got like i

32:01

kind of miss it you know in said because it

32:03

kept me to forty hours and now i

32:05

work a lot more don't know about you do

32:08

yeah absolutely wreck that smacked us in

32:10

the face when we quit because there's also

32:12

this thing that we don't think about this

32:15

added pressure now of like you've gotta

32:17

go produce because that you

32:19

don't have that salaried income coming in every

32:21

month the matter if you producing your real estate

32:23

business or knots and so this this pressure

32:25

to go produce plus you're not super new and you enjoy

32:27

what you do and so he just end up cranky

32:29

an extra hours and

32:32

i really had to have

32:34

sit down with my wife's to talk about like

32:37

how do we establish some like boundaries

32:39

and what expectations do you have for

32:41

me and entrepreneurship right

32:44

versus you know when i was working

32:46

salaried positions right in our and

32:48

i wanted to have those conversations so i knew

32:50

on the friends i kind of what's he wanted for me

32:52

and house he wanted me to spend time and we could

32:54

have that kind of conversation because

32:57

now you've got this added layer of entrepreneurship

33:00

and you , pandemic

33:02

life and so there was ton time at home and

33:04

so you really had to draw that that hard

33:07

mine in the sand of will have when you call it

33:09

quits indo focus on you know

33:11

family and kids in those kinds things and

33:13

so it was a was it was a whole

33:15

lot in that first month or so but

33:17

lethally you know i again i

33:19

have amazing life and we had that sit down were

33:21

able to draw some boundaries and and

33:23

i'm i'm not perfect with them buts

33:26

were getting better and so now i so

33:28

i i to an office like i moved everything

33:31

from home to an office and that i give

33:33

myself those boundaries physically like i have

33:35

to get up get ready physically go

33:37

to work physically take my laptop

33:39

physically take my laptop home and so like

33:41

you're mentally saying like i am taking

33:43

my laptop home or say right which

33:45

means you are planning to go do some work

33:48

vs leaving it work and self step physical

33:50

office has also provided us some boundaries

33:52

yes hard it is really tough mean

33:54

cause i guess bessie at our first like

33:56

in our house and l a oh and when we are doing this to my wife

33:58

was like you're right there

34:00

like why we why can't you help me

34:02

kid is crying or you

34:04

know liked was yeah change the diapers my

34:07

i'm sorry like

34:09

i know that i'm here but i'm also like

34:11

i'm drowning you know there is a lot of as you

34:13

know those moments where we had to have hard

34:16

to hard that's like look not that i

34:18

don't want to be around but it's like yeah

34:20

at my work could mess around and still

34:22

get paid and if i don't work we don't make

34:24

money you know know like wages in my

34:26

head about it and , think think

34:29

know other things are really tough for me was like

34:31

healthcare like i would be part the sword and

34:33

talked about was when was like crying and they're

34:35

like a going to okay financially and was i

34:37

yeah i make way more money my bosses were like than

34:39

what's the deal and i was like health

34:42

care it's expensive than ever go to

34:44

you're getting ever go head about two thousand dollars a month

34:46

of health health care when was making

34:49

at another point like thirty five thousand dollars month

34:51

with everything together and so healthcare

34:53

is expensive innocent that yet the think about a nervous

34:55

bunch different options in a longer getting your four

34:57

one k match you know qualifying for

35:00

mortgage is really tough when you're self

35:03

employed like you said like i make significantly

35:05

more money than ever made in big so of

35:07

the me alone because i'm looking for on

35:09

paper it's really annoying now

35:11

after get my taxes season like this is

35:13

my second year of making income like this

35:16

i'll finally be able to count any finally buy

35:18

house without having to jump through so many hoops but

35:20

it's really tough so i think you know if you're in

35:22

this world you want to become real estate investor

35:24

clothes on those houses first i clues on house

35:27

and literally as soon as i close on that house i quit

35:29

next week because i'm right that was it i

35:31

did it the yeah qualifying

35:34

think i don't if you had any judgment

35:36

in your life when you told people that you're quitting but

35:38

quitting did had people that are he knows his

35:40

supporters as most people were at

35:42

some people that were like that's crazy

35:44

and i'm like i'm think you're the crazy one the

35:47

rely on one income at your job you

35:49

know of i get that's crazy to me

35:52

and i was just getting defensive because i

35:54

was like why why not just support me like

35:56

that it hurts you know and so

35:58

is like family it out of at first

36:01

because it's just no one in my family

36:03

has ever done this before and so it's

36:05

so weird to them that i

36:07

would leave a six figure job and

36:09

what they didn't understand was that you know

36:11

yeah but i kind of what was working on the background

36:14

and so yes do you have a judgment in

36:16

your in your life for was relatively

36:18

smooth sailing for you to absolutely that's been

36:20

brought them throughout the whole journey and yes absolutely

36:22

the a lot of the

36:25

judgment i'm for lack of

36:27

a better term will come from your

36:30

your friends and family the people closest to you because

36:32

they know you before they know us the guy

36:34

they that didn't do any of that right

36:36

like you just if you're just getting started

36:38

on this entrepreneurial journey right they

36:41

don't know about you that part of view they

36:43

see the old you and so as you start

36:45

doing these things that seem

36:48

crazy right yeah he you

36:50

get some judgment and sometimes that judgment comes

36:52

from a good place sometimes it's hey

36:55

this is risky i love you

36:57

i want you to be able to to pay

36:59

your bills and want you to take a safe

37:01

path and sometimes that judgment is

37:04

hey a i don't want

37:06

to be doing better than i am right and

37:08

and so like you can piece together

37:10

who who's who's being judged

37:12

for what reasons but absolutely

37:15

and just remember folks like this

37:18

this this journey that you're on this

37:20

vision that you've been given his for you

37:22

it's for you to act on it's

37:24

been given to you it's it's that

37:26

nobody else has to understand it for

37:28

you to be successful in your journey and

37:31

so don't let that hold you back

37:33

there's reason that being trailblazer is

37:35

painful you're the one

37:37

going down the path first you're cutting

37:39

down all of the obstacles

37:41

and barriers that in the way and so you're going get

37:43

the next and cats and things that

37:45

come with being the leader going down a path

37:47

maybe people in your family haven't gone down before

37:50

and so yeah that jasmine is just part of those nixon

37:53

cuts and things that you're going have and door

37:55

as you start to blaze into trail for for

37:57

people your family behind you is that it's

37:59

a i think that that that's

38:02

something that you get to do and

38:04

so don't don't see it as negative

38:06

see it as like i am creating

38:08

this new path of wealth that

38:10

other people in my family behind me get to

38:12

go down and i'm okay taking

38:14

the brunt of the judgment

38:17

and the nixon the bruises so that i

38:19

can make too much the lives of people

38:21

behind me and my family better family love it

38:23

yeah me to be clear you are crazy to

38:25

like it has authority what are you crazy

38:27

it's like yeah you're right

38:30

i am you know embraced embraced the craziness

38:32

because i think that's was going set your parks i really

38:34

actually like in this they say like the

38:37

be like when i bought my house in l a and

38:39

twenty six teams i actually had family

38:41

members that like you're crazy

38:43

not like indirect family members of a gear crazy

38:45

are buying at the top of markets where the housing

38:47

bubble and i was like well i'm

38:49

still gonna do it because want buy a house

38:52

and know it's going to stop me an

38:54

sas for to you know five years

38:56

later in my house has doubled value

38:58

from six hundred and twenty four thousand to one point

39:01

five million dollars they to don't

39:03

own a house funny

39:05

enough the looking to buy house now

39:07

and the you know like if another the tablet market

39:09

then the goodbye argue that

39:11

you're pretty close now so i think

39:13

you just gotta take action

39:16

in in not worry about what other people think

39:18

you know what mean and think that's kinda how the nine

39:20

to five thing is a quit your job don't worry what

39:22

have to say just do it and figure

39:24

it out because at the end the day if

39:26

you're the one that's right that's all it matters

39:29

absolutely some kind of curious

39:31

man like what changes actually happened

39:33

you became a full

39:35

time real estate investing like did your investment

39:37

strategy change or are you do me

39:39

exact same thing

39:40

so from an investment standpoint were

39:43

, much doing the exact same thing

39:45

the difference is i have

39:47

more room to grow

39:49

and scale that because of time of the back

39:52

and then

39:53

i can also oh

39:55

the one thing that is changing now is

39:58

work adding people to the t

40:00

so that i can start to grow

40:02

and scale the business without me having

40:04

did pretty and all the actual work

40:06

myself and so that was more

40:08

difficult before

40:11

because there was so much focus on the having to

40:13

do my nine to five and do that the

40:16

proper way to be able to think about

40:18

hiring people and making enough income

40:20

to hire people in my business was business

40:23

was was was and so now that we

40:26

are producing the income that we need

40:29

i'm i'm realizing that i

40:31

quit my job that bought me some hours

40:33

what if i can hey somebody

40:35

the by varied hours a day right and

40:38

so the more people you bring

40:40

on the more hours you're adding to your

40:42

business and you

40:44

can get an exponential return and so we've

40:46

just hired our first a

40:48

first person which is actually my my content

40:50

manager and we're actually looking to bring

40:53

on and acquisitions manager it's

40:55

next to help with the

40:57

acquiring properties yeah so i

40:59

am curious because i'm sort of at that point now

41:02

i have my team consists of my assistant

41:04

who's effectively like my property manager

41:06

and

41:08

everything social media manager

41:10

and community manager and that got my business partner

41:13

who he basically executes

41:15

the whole real estate side of my business i obviously

41:18

i'm so involved from a higher , level

41:20

but but day to day he's doing

41:22

that and i'm at this point now where it

41:24

is time to build a team so i

41:28

don't know like the is it is what's

41:31

your thought process on on

41:33

it obviously like i'm cheap and think most real assistant

41:35

editors are you see her first

41:38

same burmese at this year's what

41:40

are your thoughts on like sacrifices of payroll

41:43

versus you know getting your time

41:45

back because i see like paying people inexpensive

41:48

unless you're not paying them in you're giving them

41:50

equity which is a lot more pain much

41:52

more expensive to reality a disaster

41:54

surface yes so

41:57

for me my thought process around hiring

41:59

people has been it in around

42:01

two areas so

42:04

high dollar activities right

42:06

that takes a lot of times

42:09

and so if something produces

42:11

me lot income

42:13

and takes lot my time i'm

42:15

, look at it as is this something

42:17

that makes sense for me to hire someone

42:19

to do the

42:22

other thing that i'm looking at

42:24

his essentially

42:29

marketing right like what is

42:31

driving more business for

42:33

me and so my

42:36

content manager is essentially part

42:38

of my marketing budget because

42:40

we all know social media is less about

42:42

social media and more about marketing it's it's

42:44

it's getting eyeball to you and

42:46

so i

42:48

wanted to take the things that are going be the

42:50

highest impact to the bottom line

42:53

and take the most amount of time and see

42:55

if it makes sense for me to bring somebody

42:57

in to , those

42:59

activities activities i called

43:02

relentlessly consistent because

43:04

i think relentless consistency is what

43:06

truly bills businesses brightest

43:08

the ones who are consistent no

43:10

matter what's happening and

43:12

so

43:14

for right in right now those two activities

43:16

like i said for me our content

43:19

, keeping the content slowing as

43:21

well as as

43:23

marketing for deals and the acquiring

43:26

of those deals going cause those two things

43:28

are going generate the most amount

43:30

of income and if i can have somebody

43:32

else is time to do those things

43:35

than things can use the time that time have in my brain

43:37

to think of more income generating activities

43:39

and get involved activities and things and were involved in yeah

43:42

so quit quit tip minute the

43:44

said quick tip yeah mid episode quick

43:46

tips but i

43:48

we just really that episode with brandon turner

43:50

and we talked about all the

43:52

all things personal brand and building

43:54

content and everything like that's of the wanna learn more about

43:56

content creation and you know how you can

43:58

utilize that in usa there you have

44:00

a be sure to tune in on that bm

44:03

in up make lot sense i think you

44:05

know i'm here much better influencer the me

44:07

i really hate ,

44:09

that but i just i i can really do one

44:12

you tube video every single week

44:14

and that's it you know like i'm like it's it takes

44:16

so much of my time and effort to do one you

44:18

tube video right anyone's ever

44:20

seen it i got his there's lot that goes into a

44:22

lot of editing i don't even do the editing

44:25

my editor does who is like the foundation

44:27

of my marriage marriage he'd saved

44:29

me so it's time but like i really

44:31

it's it's hard and so like i try to put stuff

44:33

out on instagram to you and everything but

44:36

everything just can't do every day and i know

44:38

that you're right like putting yourself out there getting

44:40

those eyeballs out there a book report

44:42

and you know i know that's like neda

44:44

and in guys like that like think spend

44:47

like how don't want take

44:49

forty grand month on content creation

44:51

federal he's like then i spend about

44:53

no five

44:56

six thousand dollars on content creation so i'm

44:58

actually that they've now it's

45:00

like okay phone tentative do i

45:02

tend x so i'd do i'd go and spend city care

45:04

month doing this and it's it's really hard

45:06

because it's like that

45:08

a vein seemingly vein thing

45:10

to spend my money on but i know that it's

45:13

pathetic i don't want to get into content creator like

45:15

to none drums but like you know i know that can help people

45:18

more efforts with my first real problem here

45:20

exactly so on the

45:22

acquisition side though moving back

45:24

to that how

45:26

do you even figure out how compensate someone like

45:28

that oh that's phenomenal

45:30

question because we're looking at all of those strategies

45:32

right now and so some of things i'm

45:34

thinking about our right d

45:36

just pay somebody flat salary right

45:38

and flat salaries are are awesome

45:41

because , stability stability

45:44

is it motivating enough for someone

45:46

to continually go out there make

45:48

offers talk to sellers and kind

45:50

of grow in scale from that from

45:53

were also toying with the idea

45:55

of leveraging the

45:57

eyeballs on social media to

45:59

bringing

46:00

somebody who already maybe like nose and

46:02

tracy from your brands and maybe

46:04

direct sales and talking to people and

46:06

then maybe bring them on as an intern

46:09

to see how they do and then

46:11

pay them heard deal that

46:13

they bring down and so there's there's tons a

46:15

different strategies in i you know i honestly

46:17

i'd be lying if i told you i knew which one was

46:19

the right way go slum in there

46:21

all right before how i guess if whatever is right

46:23

for you but but my gut is telling me

46:26

that like i want pay somebody based

46:28

on the deals if they

46:30

close and this so there's probably some

46:32

level of both where you get some

46:34

kind of base

46:36

that that pay can increase

46:39

drastically the more deals

46:41

that you close yeah yellow

46:43

eyes look i'm really in line with that is

46:45

where i'm at in my business because things going really

46:48

well as his and

46:50

you know right know i'm at six

46:52

fifteen or sixteen short term rentals we're

46:56

currently negotiating hotel

46:58

deal this twenty dollars that

47:00

will double my portfolio for effectively

47:02

overnight i'm i'm raising

47:05

a couple of thing them raising a fun when building

47:07

twenty houses and joshua tree with tony robinson

47:09

real estate rookie if you guys have listen to that awesome podcast

47:12

as well all the family and

47:14

family have another fund what

47:16

super has labs where you know the

47:18

goal is to start raising like a lot

47:20

of money to go in a choir the hundred properties

47:23

and of yet another investor

47:25

that we're working with wants us to

47:27

help him scale up to one hundred homes so

47:29

we're moving you know and i'm like okay

47:31

we faked it for long time and there's this

47:33

like take it to make it right and i'm what i'm mean like

47:36

obviously we're really good at this were doing it but it's like we

47:38

were good at doing the single family acquisitions

47:40

one at a time now to go

47:43

from one acquisition to acquisition

47:45

is is becoming a really big drain

47:47

on our time into were quickly realizing

47:49

we gotta go for like twenty thirty

47:51

forty door deals or like

47:53

syndications where we can have a lot more

47:55

money the returns don't have to be fifty percent

47:58

they can be ten percent and then we can just

48:00

are buying bunch a short term rentals around the country

48:02

so for me as i scale

48:05

i understand how to get there but building

48:07

the team is like very very crucial because

48:10

one thing that is change for me in

48:12

very significant way obviously

48:15

buy of soon this is for you to but my time

48:17

is lot more valuable you know what i

48:19

mean like i hate even say

48:21

my hourly rates on that businessman but it's

48:24

it's very expensive you know and

48:26

and you start to scale and when you

48:28

start to understand that your hourly rate is

48:31

very high than it does it make sense for you to go

48:33

out and buy a two bedroom one bath

48:35

air b and b he got go by twenty a month

48:37

or built when you when you know i mean so for me

48:39

i think scaling in my business

48:42

means i'm now evaluating

48:44

deals based on if

48:46

they are seven figure deals or not

48:48

so if something is that seven figure

48:50

opportunity for me i just

48:52

it costs me money to pursue it if

48:54

it's the same it's like the same analysis

48:57

you put into quitting your job right like you have

48:59

to sit back and think about what's the best

49:01

use of the time that i have available

49:04

what's the best return on that's and if it's

49:06

not gonna provide me what

49:08

as feel like is

49:10

what need for my time and it doesn't make sense

49:12

right and so i to i totally understand

49:15

that yeah we're we're at place where

49:17

are normal operations as far

49:19

as acquiring properties is

49:21

the same but we've

49:24

been focusing whole lot more on

49:26

holding multifamily and so

49:30

in

49:30

friend for the and and for a very similar

49:32

reason because i can find single family

49:34

homes all day but they

49:36

don't provide the return

49:39

on investment that the maltese do

49:41

and so our strategy shifted

49:43

from know buying and holding

49:46

everything we're

49:48

gonna dispel the singles

49:51

the the capital and were cheap and maltese

49:53

and heavily looking for more

49:55

multi so at at one

49:57

hundred percent i get it yet it yet it obviously

50:00

the big benefit here of scaling

50:02

big big benefit or if you doing this

50:04

right and you're actually making money doing

50:06

this even if it's twenty five thirty five like

50:08

you know kind where we were at or

50:11

let's say that year to the level where i am were have

50:13

like ten next my income and

50:16

taxes

50:20

right if you to auto scaling

50:22

the are you know is low important because

50:24

it you going to able lock down a lot more real estate

50:27

and wipe out those taxes i brulee

50:29

gone down a day huge rabbit hole

50:32

on taxes because ,

50:34

i hate paying them now have a book world

50:36

like like are and to caesar

50:38

what is his now i'm like oh hey like

50:40

hundreds of thousands dollars oh dude

50:42

i'd met with my accountant yesterday

50:44

and it and a very

50:47

very painful meeting voice

50:50

yes taxes think about

50:53

that he got

50:55

down this path his voice

50:57

making money his expensive is that yeah

50:59

but you know someone told me this i like shredded

51:02

it was cheesy when he said it but it's so to

51:04

he said like you know paying taxes

51:06

as good things if you're paying taxes that means

51:08

made money though

51:10

there's much as i want to complain about

51:13

henning you know hundreds of thousands of dollars on taxes

51:15

like okay i

51:17

you know but the but the side is i made

51:20

the money that is getting me

51:22

to pay that tax bill so

51:24

with that said though i figured out

51:27

basically how to wipe out taxes and it's it is

51:29

acquiring luxury real estate mean david

51:31

greens acidity only bought a three point two five

51:33

million dollar house in scottsdale i'm

51:35

doing syndications i'm you

51:37

know hopefully really gonna

51:39

by millions dollars of real estate this year

51:41

and when we do cost segregation and bonus

51:43

depreciation law that stuff it's not

51:45

my tax bill down the magazine

51:48

hundred percent because you know i actually do what to show an

51:50

income on my tattoos like my house i we talked

51:52

about this but it'll it'll be significant you

51:54

know yeah man one hundred percent

51:56

i was i was recently recording an

51:58

episode of of on the market

52:01

and where we were all doing some deal analysis

52:03

and you'll be proud me rob the deal i brought

52:05

to the table was the first property

52:07

that i'm buying specifically as an air

52:09

bnb so i'm and proud

52:11

ever hear pad had of yes i've never

52:13

bought one with that's what the purpose

52:16

of me buying it to be an air bnb now i have to

52:18

air bnb minutes a duplex that i had

52:20

long term that converted and so this is my

52:22

first axel air bnb

52:24

purchase so that's the deal i brought

52:26

to the table but jamil brought a

52:28

deal to the table where he talked about

52:30

an , building that he was

52:33

that he's at great deal on and

52:35

jamil by nature is a is

52:37

a that he's a he's

52:39

deal maker he left of us to flip

52:41

staff likes to buy low sell high right

52:43

like gets into the everything data man

52:45

he's like the rest are akin hilarious guy

52:48

he does add or

52:49

i mean i'm an ad guy and i admired to be good

52:52

in my his ads are like insane who

52:54

does like funny parodies of like lawyer

52:56

commercials and oh my gosh that guy

52:58

yeah because haven't listened to the on the market podcast

53:01

yeah yourself a favor because the other guy

53:03

will be you guys both but you know jamil we're talking

53:05

about him right now is to address if only selfishness

53:08

and meals awesome yeah ,

53:10

and so he was talking about buying this

53:12

apartment complex and he could get speaking

53:14

make one point two million on

53:17

an assignment see if a sign that contract

53:19

but he also talked about he

53:21

just had to pay eight hundred

53:24

thousand dollars in taxes

53:26

and so the benefit

53:29

to him buying this property wasn't

53:31

the cash flow it was gonna produce spray

53:34

it wasn't the appreciation it

53:37

was that

53:38

i need tax shelter i need something

53:40

that's gonna help to reduce that tax bills

53:43

and so real estate yes making

53:45

money is expensive but the awesome part about

53:47

real estate is if you buy the right

53:49

assets right if you use the skills

53:51

that you've developed to grow in scale your business

53:53

to where it is now and then strategically

53:55

by the right assets you can use those assets

53:58

to kind of help offset that tax bill

54:00

like you said with acquiring them millions

54:02

of dollars of of air b and b properties

54:04

because it's going to do that for you yeah i mean so

54:06

this a look if you quit your nine five job

54:09

obviously like there's a lot that we've covered here but

54:11

i think

54:12

one of biggest watch out says you have

54:14

to understand how taxes are going to work

54:17

and how they change because you've

54:19

been making you no money passively

54:21

real estate and you no if you can qualify

54:23

as a real estate professional i believe that

54:26

changes to active im not a im not people

54:28

a but it changes things for

54:30

you and the benefits are astounding

54:32

if you just nerd out about it so many

54:34

people always say that taxes are boring no

54:37

like oh yeah theyre boring and like know theyre not

54:39

that you're very exciting game because

54:42

it's making money if do it correctly

54:44

making taxes is making money right

54:46

before move onto the next person of are so

54:48

was such a quick break to hear from today show sponsors

54:52

long time bigger pocket solicitors know that if

54:54

you one invest learn and build wealth

54:56

quicker you need to work and the real estate

54:58

industry so when rebuilt asked us to

55:00

help them find some talent we new are audience

55:02

would be the perfect match theyve re imagined

55:04

what real estate career can look like at

55:06

rebuilt youll learn the tricks the trade under

55:08

veteran real estate investors and work into competitive

55:11

exciting in fun environment with nearly

55:13

unlimited earning potential plus w

55:15

to salary health insurance a four

55:17

one k match and paid time off

55:19

interested check out rebuilt dot

55:21

com slash careers so what is rebuilt

55:24

there are private equity backed company that operates

55:26

and tennessee texas kentucky alabama

55:28

and pennsylvania and is growing fast

55:30

and setting new records every month they

55:32

need someone just like you to help them expand into

55:34

brand new markets hiring right

55:36

now for real estate market directors and real

55:38

estate account executives with w to

55:41

paid benefits for one k and

55:43

unlimited earning potential check out

55:45

rebuilt dot com slash careers

55:47

right now to learn earning grow

55:49

thats rebuilt dot com slash

55:51

careers the

55:54

most important part of rental property investing

55:56

isn't the property itself it's attendant you're

55:58

reading to but maybe

56:00

not sure how to find good tenants well

56:02

rent ready property management app can help

56:04

find high quality tenants from start to finish

56:06

start by listing your rental with rent ready and share

56:09

your listings to any of the top rental sites

56:11

from there tenants can pre qualified

56:13

by answering common questions about things like

56:15

whether or not they have pets employment history

56:17

and more then invite the qualified

56:19

tenants to apply and complete a background check

56:21

with full credit criminal and fiction

56:23

reports verified by transunion the

56:25

screening is only thirty five dollars and tenant

56:28

paid once you found your dream tenant you

56:30

can accept them with one click offering rent ready

56:32

rent ready offering promo to get six months

56:34

rent ready for only forty five dollars thats

56:37

fifty percent off use code b

56:39

p six and get six months of

56:41

rent ready for forty five dollars at rent ready

56:43

dot com thats r n t

56:45

r e d i dot com using

56:47

code bp six that bp

56:50

like bigger pockets and six

56:52

as i x to save fifty percent

56:54

off six months of read ready the

56:58

i'm at last last kind of section

57:00

here can be actionable

57:02

tips and i really did want

57:04

to get into this only people with this things that

57:06

they should do like things that you

57:08

can tangibly do today that

57:10

will set you up for quitting you nine to five

57:12

job right so for me this

57:14

was a really big thing for me as very impactful

57:17

i call this talking to other quitters

57:20

term quitters always bad thing but it's actually a great

57:23

thing when you're in this position i

57:25

remember i zoomed with lot of founders

57:27

of companies people who had like

57:29

seven eight nine figure exits

57:32

a ceos you know diesel i

57:34

met i've met lot of cool people in my realists korean

57:36

because you tube it's just it's opened the

57:38

door for me but one thing was

57:40

in common when i spoke to all these guys and they

57:42

were all like

57:44

why are you still working your job is

57:46

it you know they're related ice ceo watch youtube

57:48

channel you talk about much you make

57:51

you know you're charging me this much for consultation

57:53

i don't understand why you're still working and

57:55

they just after hearing that so many times

57:59

in fan of couple into your side okay

58:01

you know these guys obviously have figured it

58:03

out and know they obviously

58:05

believe in me more that believe in myself maybe

58:07

this maybe this that have do so

58:09

i think talking to someone else has been through this

58:12

stuff a little that's good nine to five job chances

58:15

are don't know any if you've met

58:17

anyone that this didn't work out for but for me

58:19

it's the quitting you ninety five and going full

58:21

time it just the

58:23

older like the thing you love you she

58:25

works out for people usually yeah

58:27

absolutely i don't know anyone who

58:30

has who was in this industry who

58:32

has left in under five and then ends up having

58:35

to go back from atlanta

58:37

any money not not single person

58:39

and i did the exact same thing like my

58:42

, was like yeah quit and was like like

58:45

me go talk to somebody else who spoke of

58:48

away and i talked to my buddy my buddies act he's

58:50

a he's a he owns stores

58:52

facilities rock stars in stores

58:54

facility games and he he's

58:56

men and entrepreneurs long as i've known

58:58

him michael to i'm in so ah

59:02

i went to him and i like at like how

59:04

you how

59:05

do you make this work i'm thinking about doing and he was like

59:07

honestly at that that should have

59:09

done this a year ago so that every

59:11

way then press write an

59:13

essay in i add but it gave

59:15

me a place to take my fears is what

59:17

happens lot with stuff like this

59:19

with was the same way when was getting started in

59:22

real estate like we have these fears

59:25

and have lot the times there

59:27

they're

59:27

not really rooted in anything real

59:29

right arm and so

59:32

he gave me a place to be able to

59:34

ask those those wise right likes

59:36

and those what apps like hey i'm thinking

59:38

about quitting i know you did it

59:40

here's a big fear here's my big what if

59:42

like what if i quit and i can't produce

59:44

the income than i need to live monthly what if

59:46

i quit and you know x

59:49

y z and he was able to put some like real

59:51

life to it because he's lived it like

59:53

what if i quit and you know we

59:55

struggle with the healthcare so he was able to help figure

59:58

out likes give me some actionable advice

1:00:00

my get this is how much causes is what we do for

1:00:02

it writes here's some other options might think

1:00:04

about and so talking to quitters was

1:00:07

, best thing i could done as

1:00:09

far as getting advice on

1:00:11

if this on if good move not because it helped

1:00:13

me realize which fears of mine were

1:00:15

actual legit fears i needed to go create

1:00:17

medication plan for works and in which fears

1:00:19

a man which is my brain over work in itself

1:00:21

for no reason you know it's really funny is that

1:00:23

it's so easy to see what they saw

1:00:26

now that i'm you're doing it know because to them

1:00:28

do i just quit them like we meet just quit that

1:00:31

so damn i would say that then like

1:00:33

now i'm like whenever people can

1:00:35

approach me undies i get just quit so

1:00:38

dumb i'm like look you're gonna figure it out actually

1:00:40

just had a conversation with friend who wanted

1:00:43

to go forth on in photography and

1:00:45

you know he called me like man of this i'm thinking about doing

1:00:48

it and i'm at the point where like where like make

1:00:50

more money with photography unless i quit job

1:00:52

and was like if it's costing

1:00:54

you money from photography and that's the only way you can scale

1:00:57

then quit and even if you make half

1:00:59

like a long as you can pay your bills with your wife

1:01:01

salary hook you know like they both think pretty good money

1:01:04

like you can be fine and do that or i

1:01:06

will appreciate it like this is really meaningful again

1:01:08

and or is and then i like this was two weeks ago

1:01:10

as didn't have met with the my two or three days ago but

1:01:12

again answer would you into blading either oh i quit

1:01:15

and like quit ,

1:01:17

me the text me it's a tough you for two

1:01:19

hours about this and that you're

1:01:21

just really happy for him because i can see it i

1:01:24

think this is a whole mindset thing that

1:01:26

you just don't see it in the moment that

1:01:28

you're very mind opening edit

1:01:31

afraid the opening eye opening

1:01:33

a high heel for the it open my mind to smith

1:01:35

don't upset bigger pockets i did that was very eye

1:01:37

opening with the one that we did with jason drees i

1:01:39

believe was episode six so one and

1:01:42

that's how i opening a was for me talk

1:01:44

about mindset and just imagining who

1:01:46

you were ten years from now like thinking of is

1:01:48

the version of u ten years from now and

1:01:50

if can imagine know

1:01:52

that person

1:01:54

you can get it on effectively manifest

1:01:56

them in your life and so you know i talked a lot people

1:01:58

who they make city then or seventy five

1:02:01

hundred thousand and i'm like if i ask and

1:02:03

can you make million dollars this year

1:02:05

they're like well let know what he talking

1:02:07

about that such dumb question where they ask me i'm

1:02:09

like heck yeah i can because you know like

1:02:11

i understand that it's all mindset in like

1:02:13

really just believing yourself goes a

1:02:15

long way so the very

1:02:18

long candid the just say talk to other people that

1:02:20

done it because think it's gonna be more eye opening

1:02:22

than you think absolutely and second

1:02:24

actionable tip here which we've already

1:02:26

sort of covered but think it's just develop your

1:02:28

multiple screens of income i really

1:02:30

don't want people to dip into

1:02:32

the real estate no income personally like

1:02:34

want you to grind that for long you

1:02:36

can that's you're gonna retire on you should really

1:02:38

be year working

1:02:41

on it like was planting the seeds watering

1:02:43

the seeds and for me what

1:02:46

the of my of my income now as

1:02:48

you know i do a mentorship do

1:02:50

coatings concentration of

1:02:52

get affiliates this is a very easy

1:02:54

one you can go make a you tube channel

1:02:57

and can say hey i'm going to review

1:02:59

this item right here in people click

1:03:01

that link you'll get three percent commission

1:03:03

on it is it's like an amazon products like

1:03:05

it's crazy like you can make six

1:03:08

figures doing this he can make six

1:03:10

figures just promoting other products

1:03:12

lot of people just don't want do a because it's like hard work

1:03:15

you can do that air bnb

1:03:17

who was by side hustle for a long time now

1:03:19

it's my front hustle if you will for

1:03:22

you know that's probably like it's a multifamily

1:03:24

did that for long time then the

1:03:26

did you take a side income think that's like

1:03:28

very actionable why people ago would i

1:03:30

don't have money partnerships partner

1:03:32

was people opium other people's money they

1:03:34

will pay for your portfolio

1:03:37

if you can pick yourself and

1:03:39

if you have a track record doing this the proof of

1:03:41

concept that we talked about their one hundred

1:03:43

percent man you can you can

1:03:46

go get side hustle within the real

1:03:48

estate space right you can

1:03:50

go be a bird dog find deals and partner

1:03:52

with somebody you can go

1:03:54

out and and to there's so many

1:03:56

ways to make money right

1:03:59

now with just your phone that

1:04:01

it's in same and

1:04:03

so

1:04:04

you don't have to know exactly what that side

1:04:07

hustle is right now and so like

1:04:09

a little mindset for everybody

1:04:11

just tell yourself i'm

1:04:13

gonna find gonna side hustle that

1:04:15

produces x amount of income for

1:04:17

income per month and just right

1:04:19

just right say that yourself three times in the morning

1:04:22

and i promise you as your browsing instagram

1:04:24

as you're listening to this podcast as listen

1:04:26

to some other podcasts you was over

1:04:28

hear someone say

1:04:31

this thing is cool or this technology

1:04:33

is cool and then you'll be like that's it that's

1:04:35

the side hustle that i can do as

1:04:37

he rubs one hundred percent right there's youtube

1:04:40

channel this people that have youtube channels

1:04:42

that just upload like calming sounds

1:04:44

and make six figures of print like it's

1:04:46

like it's is that the path to take

1:04:48

i have no idea right there's

1:04:51

there's opportunities for you to just do affiliate

1:04:53

sales for products that already exists is literally

1:04:55

website you can go to right now pick

1:04:57

some products and start promoting

1:04:59

it as an affiliate and you'll get fifty percent

1:05:02

of the sales from it's like you just have

1:05:04

to figure out as you start to research

1:05:06

side hustle something's gonna stand out you

1:05:08

and then dive into it yeah actually this gets

1:05:10

entered my next tip here which

1:05:12

is and is a big one

1:05:15

it it helps visualize it you know we

1:05:17

think about all the side hustle than there i was in the either

1:05:19

of our head and he actually need a put

1:05:21

pen to paper and literally map

1:05:24

out three finance all scenarios

1:05:26

good better best

1:05:29

hey here's what i make from side households

1:05:31

are you going make my job if want keep doing

1:05:33

that in sort of we myself off and he's

1:05:35

remake from real estate and i

1:05:38

see just search for this on my computer and

1:05:40

again in the name of transparency as

1:05:42

or just want to read you what i mapped out my good

1:05:44

better and best case scenario

1:05:47

right so conservatively the

1:05:50

guy right if i just it it just

1:05:52

do what i'm doing if i just

1:05:54

quit my job i can get to twenty

1:05:56

three thousand dollars the month two

1:05:59

hundred and seven

1:06:00

the thousand dollars a year now was like

1:06:02

if i really just mail it in

1:06:04

that's what mean me

1:06:06

my medium case scenario i really you

1:06:08

know put time into this less in fostered

1:06:11

all of these different things and i i

1:06:13

really just put time and effort into it i can

1:06:15

go up to thirty five thousand seven

1:06:17

hundred dollars a month would

1:06:19

the yearly salary four hundred twenty thousand dollars

1:06:21

and then my best case scenario as like i'd

1:06:23

if i just totally crushed this i make

1:06:25

thirty eight thousand five hundred dollars month which

1:06:27

is four hundred and sixty two thousand dollars year

1:06:30

but the big difference on that best case scenario

1:06:32

is that four hundred and sixty two thousand dollar

1:06:35

paycheck that was working towards axes

1:06:38

when if i quit my job what i could

1:06:40

make and you know

1:06:42

i obliterated

1:06:45

like i just totally like i

1:06:47

met those goals by

1:06:49

far in just putting them on

1:06:51

paper and mapping out how i

1:06:53

was gonna make that help me out

1:06:56

so much maybe they're just like seeing it

1:06:58

and being like wow it it really helped

1:07:00

me believe in myself because that that was

1:07:02

really going off of money that i was already

1:07:04

making so wasn't really that crazy

1:07:06

so it's like right to know me just do like

1:07:08

a little growth plan and

1:07:10

passport to today i just did that last week

1:07:13

in it's really crazy it is really

1:07:16

it's like so crazy to just map

1:07:18

out what's possible next year and i

1:07:20

would never have seen that i would never have number to

1:07:22

work towards had i not just got it

1:07:24

at our is very unofficial it's just literally

1:07:26

income stream one two three if

1:07:28

i open up this air bnb if i grew

1:07:31

my channel by twenty percent if i

1:07:33

grew my affiliates by this fight you know just

1:07:35

those simple steps really were eye opening

1:07:37

for me and i was really motivated to just

1:07:39

beat numbers that set forth for myself what

1:07:41

about you didn't laugh out anything like that are

1:07:43

like where you just kind of guess i'm good

1:07:45

so i've always been already fire and com a guy

1:07:47

right rounder indifference

1:07:50

but did want to make sure that i

1:07:52

highlight for people how amazing

1:07:54

have tip that is because

1:07:57

as you were saying it as like this brilliant

1:07:59

should have done something and then as

1:08:01

you continue to talk my next that was

1:08:03

like do it now you're looking

1:08:05

to hire somebody do your

1:08:07

good better best scenario for hiring

1:08:10

that person what kind volume

1:08:12

do we think it can do in your business

1:08:14

to get deals closed if you don't

1:08:16

hire that person like stay powerful stay

1:08:18

the course right how much do you think you can grow

1:08:20

be as per month right if you hire the

1:08:22

person how much you think you can grow deals per

1:08:24

month then you subtract whatever that income is from

1:08:26

what you're currently making right and then

1:08:28

give best case scenario if you hire a rock

1:08:31

star right and you pay more

1:08:33

how many deals do think they can do per month in

1:08:35

that might help opened my eyes

1:08:37

and ease that pain of having to

1:08:39

figure out how to you should you go out

1:08:41

hire this person to do that thing so i'm about i'm

1:08:43

about to steal it and use it right now

1:08:45

great advice yeah mean think

1:08:48

even which is hiring someone like just like you're talking

1:08:50

about that the the worst case scenario

1:08:52

is maybe you lose a little bit

1:08:54

of money and they didn't perform but

1:08:56

you got your time that so

1:08:58

that that really that that of the scenario a

1:09:01

pretty good like a medium cases

1:09:03

be you just break even which is so awesome

1:09:05

because they they're doing the work to get to turn

1:09:07

back and a best case scenario as they make

1:09:09

you money you know what i sort of right

1:09:12

know for the most part think you can

1:09:14

you know if you're a good manager and you

1:09:16

know how to train people on can mentor them

1:09:18

you know someone told me

1:09:20

that was like talking about hiring people know the yeah

1:09:23

the delegate and i say figures david greene

1:09:25

i'll give him the the the credit this because

1:09:27

is awesome he was like no no it's not about

1:09:29

delegating it's about developing developed

1:09:31

people and develop loyal people

1:09:34

and you know they're more than likely gonna produce for

1:09:36

yeah absolutely one hundred

1:09:38

percent yeah so so basically

1:09:40

i you know if this city of if he needed

1:09:42

job noticed that ,

1:09:44

i am your dmz about go down

1:09:47

down so last couple of tips yeah we're just

1:09:50

breeze over this one's i already said ever buy real

1:09:52

estate before he quit you nine to five like

1:09:54

a house good thing good about our second home like

1:09:57

my dad was about to retire and retire was like

1:09:59

islas by their can be and then you can create a

1:10:01

great and he's like hey i ended up retiring

1:10:03

so let's just by the air b and b anyways i'm

1:10:05

like we can't is dont have and income anymore

1:10:07

date so i think its very important

1:10:09

try to close an that house that or being be

1:10:12

your that multi family whatever because

1:10:14

can be your your journey to financing

1:10:16

is about to be little tough and then um

1:10:18

last one here give yourself

1:10:20

and end date for your career your

1:10:22

career is effectively why didnt

1:10:24

quit for so long you know i had meant to quit

1:10:27

and october of twenty twenty i didnt

1:10:29

quit until april twenty twenty one which

1:10:31

i think is about six months its just

1:10:33

because i kept putting it off i was just like i cant

1:10:35

i cant dont know and then think

1:10:37

you know eventually was like all righ april

1:10:40

seventh i'm quitting you know that's

1:10:42

it that's gonna be the day i mean give it two weeks

1:10:44

for now i'm gonna do it in my life as great

1:10:46

finally and was like okay i'm going do it

1:10:48

gets not me yeah the

1:10:51

i don't want to stop you know might just

1:10:53

try but just tries that existed quit

1:10:55

its existed gave myself that ended and

1:10:57

guess what i quit on that end date in my

1:10:59

life has changed in a really positive

1:11:01

way ever since it and it's it's

1:11:04

almost like a a a mindset thing right because

1:11:06

if you set that day the

1:11:08

future and

1:11:10

you now have that they planted in your head

1:11:12

gonna start preparing for

1:11:14

that date and by the time it comes

1:11:17

you should be more prepared right

1:11:19

to make that transition and then if you're not

1:11:22

eating mean it you do you can move

1:11:24

that to eat like you know who think it's not the

1:11:26

end the world but just from preparation

1:11:29

standpoint like if you listen to this you take

1:11:31

down these these tips in these things

1:11:33

and you start to you give yourself updates now

1:11:35

you've given yourself essentially a timeline to

1:11:37

start to prepare yourself him implement

1:11:40

these things and then by the time you get their you've just

1:11:42

made your transition into full time entrepreneurship

1:11:45

that much easier yeah yeah yeah i just a little

1:11:47

bonus answer that tell

1:11:49

if you're serious about it tell other people

1:11:52

in i know still keep don't to tell your coworker

1:11:54

fight their friend tell

1:11:56

your mom tell ya tell your boss don't ask

1:11:58

don't tell your boss hotel people your

1:12:00

close friends hey i'm

1:12:02

quitting on april seven know

1:12:05

you say that because guess what they're probably get a

1:12:07

check in on you in april so

1:12:09

and so it's all need really color know if

1:12:11

want that extra bit of of can ability for like

1:12:13

dang it's a shit of you know

1:12:15

said that in as you know like on my youtube channel

1:12:17

do that all the time i just put out suge

1:12:20

lofty goals because i'm like dude i

1:12:22

, one hundred and eighty thousand people than a muted

1:12:24

like make this much for me to buy this from a

1:12:26

do that can ask he didn't want let down

1:12:29

some always it's like thrown goals goals

1:12:31

think there's big argument to be made that shouldn't

1:12:33

tell people your goals but you know like

1:12:35

that's whole nother episode probably but think

1:12:38

if put it out there then you it's

1:12:40

up there you know you don't want to go back on your word

1:12:42

so know i personally thought i was totally

1:12:44

crazy when you were like henry on

1:12:47

july seventeenth i'm going to give you a million

1:12:50

dollars and both grew unlikely

1:12:52

both do it though i gotta say that i'm

1:12:54

gonna do on that day you see if

1:12:57

you used watch that venmo power problem

1:13:00

though venmo is like it only gives you

1:13:02

two thousand dollars at time so you know that

1:13:04

it's going to take a little while to actually get to you i

1:13:06

live with better

1:13:09

but that's it man that's i think i

1:13:12

, know the have anything else any other prolific

1:13:14

thoughts that you want to leave with yeah

1:13:16

so are yeah so one it on just mattel people like

1:13:18

we're not saying nine to five the terrible

1:13:21

quit your ninety five right now what

1:13:23

we're saying is that if you're

1:13:25

on this path because you

1:13:27

want to get out of your nine defies

1:13:30

we want to help you strategically

1:13:32

do that by sharing our experience

1:13:35

with like weird literally living

1:13:37

this right now like almost in the

1:13:39

same weird time as

1:13:41

he i'm busy

1:13:44

i'm and so yeah we're not we're not we're not bashing

1:13:46

nine defies any way man

1:13:48

i tell people that my nine to five was my

1:13:50

first investor in my real estate business i

1:13:52

wouldn't have been able to grow and scale to the point

1:13:54

that i got to as quickly as did see if

1:13:56

i didn't have that nine to five they're

1:13:59

helping to the

1:14:00

to cheat me bankable

1:14:02

helping keep me liquid enough to be

1:14:04

able to go buy property is helping to

1:14:07

fund my emergency

1:14:09

fund for if things broken properties

1:14:11

and so like my job was

1:14:13

my investor in my real estate business

1:14:16

and helps me get to where needed to be

1:14:18

just keep in mind that if you're on this

1:14:20

path to quit you're job that you'd need

1:14:22

to keep what you're doing in focused

1:14:25

and keep that scorecard that

1:14:27

running scorecard like people say as

1:14:29

an investor you should keep your scorecard of your

1:14:32

of your personal financial statement right see

1:14:34

track your net worth track think should also track

1:14:36

your hourly rate like the more money

1:14:38

you start to make from side house of the things

1:14:40

should continue to update their hourly

1:14:42

rates and kind keep that in front of you

1:14:45

so you can see where you might

1:14:47

hit that threshold like or hit might be

1:14:49

time to start thinking about transitioning

1:14:51

over from one to the other yes yes

1:14:53

that is aren't other mean that's

1:14:55

that's daughter at their man am

1:14:58

i

1:14:58

don't really have much to add that think i

1:15:01

think you're exactly right what

1:15:03

i think that if i've as bad please don't

1:15:05

don't take anything with a that i actually loved

1:15:07

my job i genuinely loved

1:15:09

advertising the only reason

1:15:12

i left was because

1:15:14

well couple wasnt really that good at if i

1:15:16

being honest like i was good but was ever

1:15:18

going to great im okay with that like i

1:15:20

mean i i quit for reason right but

1:15:23

i was really i had the opportunity

1:15:25

to be great at air being be i

1:15:27

had the opportunity to be great at real estate

1:15:29

to be a great content creator i knew that i could

1:15:31

get there that can get there still

1:15:33

still working towards that because i good

1:15:35

at the stuff and i love this stuff im because a

1:15:38

i was actually having success here it

1:15:40

didn't realize that i couldn't do it for other people

1:15:42

because i mean i wanted to do it for myself

1:15:45

that i kid you know help people

1:15:47

my network help my mom my dad like

1:15:49

pay for their retirement my retirement my law

1:15:51

my sister's like my kids i

1:15:53

i i really started to understand

1:15:55

that if i could do this for myself and i could do it

1:15:57

well everyone in my family

1:16:00

in my direct influence

1:16:02

like i could they could change lives and help everyone

1:16:05

you know live better life so nothing

1:16:07

, with nine to five do it for as long you possibly

1:16:09

can be a terrible employees

1:16:12

employees fired them is getting don't that like

1:16:14

do it for as long you're is is you need to

1:16:17

i always say that like their israel

1:16:19

right wrong there's just what's right for you

1:16:21

so that might mean that you're going to quit going five years

1:16:24

in that is okay doesn't have to be today

1:16:26

in fact it shouldn't be today if you haven't been working

1:16:28

on it but working could

1:16:30

next year it could be in two years

1:16:32

or three or it's like whatever just it just depends

1:16:34

on your personal situation so i've

1:16:36

got nothing against night the five i do

1:16:38

it for as long as need to and promise

1:16:40

like way if your goal is to become a full time

1:16:43

real estate investor it's gonna happen

1:16:45

gonna man and you're gonna be so

1:16:47

glad you did when have that conversation

1:16:49

with my buddy who was who was entrepreneur

1:16:52

he told me the essentially what told me who's

1:16:54

like you said have already done it you

1:16:56

should do it today and if you do it

1:16:58

today when we talk year from now you

1:17:00

going to tell me is the best as has never made hat

1:17:02

and you python that did a quick to the

1:17:04

sit right here thanks for me he

1:17:07

is now the

1:17:08

author man why think that's it for today i'm

1:17:10

you know i would typically do like the try to do a

1:17:12

david greene the ending

1:17:14

call sign here but butchered at the last time we

1:17:16

did this to say goodbye

1:17:18

oh actually before we go we can people find your

1:17:21

on alignment your best way to reach me

1:17:23

his instagram at the henry washington

1:17:25

same thing washington tic toc and

1:17:27

you can set me on it henry washington that come washington

1:17:29

you can find me can raw built on instagram

1:17:32

a raw built on you to borrow sentence again

1:17:34

for you tube my main again mean

1:17:36

love for me on you tube rebuild

1:17:38

our ob you i'll you or tic tac

1:17:40

get robbed will tell but with that

1:17:42

we will catch you guys on next episode

1:18:06

stocks are dipping deeper into a bear market

1:18:08

inflation is taking its toll on families and

1:18:10

your savings and the feds continue to raise interest

1:18:12

rates so what that leave the real estate market

1:18:15

hear from the experts at bigger pockets they break

1:18:17

down the headlines and send them to your inbox three

1:18:19

times a week sign up for free and start

1:18:21

making smarter investment decisions today

1:18:23

all need to do is create a free account at bigger

1:18:25

pockets dot com slash sign dot

1:18:28

bigger pockets dot com slash sign