Episode 14: Get the Best Leads in the Business with Phlip Vincent

Do you have Real Estate questions stuck in your mind for the longest time and itching for an answer? Join us for a cup of coffee and ask all your Wholesale, Landlord & Fix and Flip questions with David Dodge, Don Costa, and Gavin Timms. Three of Real Estate’s BEST investors share their knowledge on how they built, operated, and have automated their Real Estate Investing Businesses helping as many people as possible become better Real Estate Investors! Bring in your questions and get ready to grow your business, achieve both TIME & FINANCIAL FREEDOM and have some FUN!

Episode Transcript

Speaker 1 (00:00):
Let's go. Let's go. Kevin, what's up, brother? Where you at?
You want a lake?

Speaker 2 (00:04):
Yeah?

Speaker 3 (00:04):
My dog's been mad right now. If you can hear
the noise catching on? Can you hear that balking or not?

Speaker 1 (00:10):
No, it's fine, it doesn't matter.

Speaker 2 (00:12):
I'm in the lake right now. We're in a bit
of storms. He's going back, so.

Speaker 1 (00:18):
It sounds like Gavin's Gavin's in a storm. Awesome, guys,
Welcome back. Coffee with Closers Live. Today is August eleventh,
It's Wednesday. We got a special guest coming on today.
It's one of my buddies, local Saint Louis guy. Kind
of sorta here, he is there, he is there, he
is kind of sorta. Phil's living in Puerto Rico now too,

(00:42):
right Phil.

Speaker 4 (00:43):
That's right? Yeah you today?

Speaker 5 (00:46):
Boom my boy Phil. I love you brother.

Speaker 3 (00:52):
Hi, Gavin, how are you sorry? My dogs are going
mad in my off and we're.

Speaker 4 (01:02):
Gonna go.

Speaker 2 (01:02):
It's good to see you, Bud.

Speaker 4 (01:04):
You too, how are you doing?

Speaker 2 (01:06):
I'm good. You said you moved, you've left. Saint Louis.

Speaker 4 (01:09):
Yes, Puerto Rico, back, Puerto Rico. I bet Puerto Rico
and then Saint Louis for when I do my live events.

Speaker 5 (01:19):
I'm so confused.

Speaker 1 (01:22):
So, DoD were you at Phil's lave event recently?

Speaker 5 (01:26):
I was at Phil's live event.

Speaker 4 (01:27):
Tell us some.

Speaker 1 (01:28):
Positive feedback about it, and then we want to hear
the negative feedback on behind.

Speaker 5 (01:33):
Yeah, you know, the first and foremost, I just want
to say that that that Phil is the guy you
see anytime you see him. He is real, genuine, full
of energy, a total giver, and he brings all of
that to the table when he does anything that he does.
So that's a great. Number One, you will not be
bored when you're in the room with Phil. Number Two,
he's super smart. Don't tell him I said that, because

(01:55):
I'll think I'm foolish stuff. But he's super smart and
he actually brings value. You know. He's talking about this
whole mom's house thing and I'm like, yeah, it's just
another shiny object, no big deal, Okay, yeah we can
we can find these leads and no one else is
getting and and I'm like, it's a cool concept, but
like you know, I've been in this industry for so
many years, it doesn't nothing ever seems blue ocean. But

(02:15):
I went and set in this event for three days
and I got to say, I was pleasantly surprised. We
came back and started implementing what we learned in that
three day event, and I think it's going to be
a game changer for our business. I'm not gonna lie,
so you know, I don't A lot of the stuff
that people you go to these events, and a lot
of stuff that people teach is just the same thing
from a different perspective. And there's a ton of value

(02:37):
in that. Like if Dave teaches you you know something
about acquisitions and marketing, and I can teach you the
exact same thing Dave teaches you. We're going to come
at it from two different perspectives. I'm laid back in
Dave's high energy, and you're going to gain something from
both of us. And that's generally what I see. I
don't usually see something new at an event, just a
different perspective. Bills is all brand new stuff I hadn't

(02:58):
heard before.

Speaker 1 (02:59):
So that's give us the three day event in three minutes.

Speaker 4 (03:04):
Three day event in three minutes.

Speaker 1 (03:05):
That would be impressive.

Speaker 4 (03:07):
Basically, I think of this now as a new category.
This was born out of laziness because I hate I
can say bad words in your podcast, right, Yes, I
hate working shitty leads. I hated it. I hate it.
And I was tasked back in twenty eleven for every
lead that was brought to me via direct mail, paper
pluck all e Stuft, I also had to go out
and create my own leads. And so, in my want

(03:28):
to not have to work uphill, I was like, well,
where are the best leads coming from? So I was
always I've always been curious as to where are the
best leads? What are they? Who are they? Who are
these people? And that's how I stumbled into the senior
living world because it's the flashpoint of when that family
needs to sell. And if you think about who we
buy houses from, is it twenty eight year olds or
is it eighty two year olds? If you think about
the deals you've been mine from, it's not people our age.

(03:49):
Very often guys, it's almost always somebody that's older, has
equity needs to sell. I also really like working at
senior living just because nobody's mad at Nana that she
has to move into senior living where and you know
the probate. I mean, there's like death there or sadness there.
I don't want to work you know, I get to
work with people that are going through a tough time
and I get to take the weight off their shoulders.
It's really fulfilling. And so this new category of real estate,

(04:13):
I don't know if I'm in minute two or not yet,
but it's got a twenty year run in front of
it right now. So what I do is not trendy.
What I do is not sexy, but it's gonna be
here for the next twenty years. We're all gonna work
in senior living, whether we want to or not. So
either gonna be the one to implement this or buy
houses from the person that does.

Speaker 1 (04:31):
I don't disagree.

Speaker 4 (04:33):
I love it. I mean basically, that's it it is.

Speaker 1 (04:38):
I love it. Man. That's awesome. So so what kind
of strategies are you guys using right now? Or are
you guys? I mean the three day events, that's a lot.
That's a lot of content. Holy I always think, yeah,
how what do you guys do on day one and
then day two and day three?

Speaker 4 (04:55):
Let me go get the book. It's like six hundred
and fifty pages. It's an entirely new industry. And so
if I can give you just an overview of that
think about every David. We've been to a lot of
RII events together. Think about every time we've seen somebody
show off the size of their check, right, we were
probably guilt of it ourselves, like, look at my check,
you know, look at my check, Look at my check.
I've been networking to senior living now for ten years.

(05:17):
Not one person that's shown me the size of their
check yet. And it's because it's a completely different industry.
It's like all hugs and kisses in love and it's
all about trust, and you've got this uphill battle of investores.
We love that word. The senior living industry does not
love that word. All they hear is the word shark. Dude, dude,
that's all they hear. And if you come at it
as I'm a realtor, that's even worse. It's even worse

(05:40):
to be a realtor because that's the way this problem
has been fixed for the past thirty years. And so
if you think about what's going on with the family.
Let's say the four of us are brothers. We just
found out Mom fell down. She had to get a
hip surgery, she had to go to rehab. The doctor
said she can't move back home. The place we pick
out because nobody lives near her, is the nicest one
in town. Because we're all feel guilty that we have

(06:01):
to put our mom and senior living, so we don't
put her in the cheap one. We put her in
the most expensive. Then we look at each other, we go,
how the hell are we going to pay for this?
I'm definitely gonna make don pay for it. He's making
more money than all that's taking it, more than us, right, So.

Speaker 1 (06:12):
Yeah, your living is like a good senior livings what
seven to ten maybe twenty grand a month?

Speaker 4 (06:17):
It can't be Yeah, he numbers, right, I mean yeah,
so even somebody with a lot of money. Man, And
immediately in that flashpoint, in that moment, you go, should
we need to sell the house? That's where mom's equity is.
She paid twenty eight grand for it forty years ago.
Now it's worth three hundred. And by the way, we
all say, let's fly into Let's fly into town next
week and clean the house out the four of us, right,

(06:38):
we're all brothers. Again, that's laughable. But first of all,
getting us all on the same page as next to impossible.
We get there. We open one box of pictures and
game over. Now we're crying and talking about memories and
arguing and who gets what, and it's just the like, guys,
families that get along don't get along during this time.
And so if you can. My whole point to this

(06:58):
was that I'm looking for that have a bigger heart,
and that narrows down about ninety percent of us right
out of the gate. Just they're just too transactional. They're
like people came out of the pha, like, just give
me the leads, Phil, give me the leads. I say,
you can't be in my mom's house. You're out. You
haven't even starting, you're out. Because I know you want
the leads. I know, shit, you want the leads. Who
doesn't want the best leads in the industry. Guys, there's

(07:19):
six reasons why these are the best leads. Do you
want to know them? Yeah? Hell yeah. Number one, these
families need to sell the house. They don't want to
sell the house. They need to sell the house. I
don't have to convince them of motivation. Second reason is
they almost always own the house outright. Third reason is
I'm a professional real estate investor. I can add value
to this house, meaning I can tear a bathroom out,

(07:41):
put a new bathroom in for what three or four grand?
In our market, the layperson goes down to home depot,
they're gonna get their head knocked off spending fourteen grand
and put a new bathroom in, and the house has
two and a half bathrooms. Right, that's just one thing.

Speaker 2 (07:52):
And so.

Speaker 4 (07:54):
You know, David, we don't even like to rehab houses
across town in Saint Louis let alone. Let's try to
do one in Cincinnati. What big of a cluster would
that be if it was five hours away, right, It's
just imagine that, and imagine we're at least in the business.
These people don't know the value of anything. They're in
a time when they need money. It's not time to
do an HGTV show on mom's house. And so besides

(08:15):
the clean out, I'm sorry, the update of the house,
it's the clean out of the house is even bigger problems.
Sometimes the stuff, the emotion of the stuff is harder
to tackle than it is even the house.

Speaker 1 (08:24):
I mean, I have one a couple of deals recently
on that alone. Right, just say, listen, take what you want,
fill your car, walk away, And they're like, really.

Speaker 4 (08:33):
That's what they want. You want to walk away.

Speaker 1 (08:35):
Than the next guy. Yeah, I'll let you leave all
this stuff behind. And they're like cool, yes, yes.

Speaker 4 (08:40):
And so these houses that are what I call even
if they're cleaning their grandma clean, they're not ready for
the market to full of stuff. So that fourth reason
is that there's less competition. When I go on these
leads is it's me versus myself. I usually don't have
any competition, or it's me versus a realtor, which I
can outperform them almost all the time. But it's never
me versus ten other investors, like it is on direct
Man or pay per Click or these other So I'm

(09:01):
fishing in a pond where there's nobody as and if
there is a broker there, the realtor, remember how I
said that bad news about what it costs to live there.
Usually the realtor is the final straw. They walk in
and say clean this place out, do this list of demands,
and then.

Speaker 1 (09:13):
Oh yeah, and then they create more work.

Speaker 4 (09:15):
They create more work. And so now Phil walks in
and goes just like when you said, hey, take what
take your airlooms, take what you need. I'll close on
a Friday, I'll come get the keys on a Monday.
Have that extra weekend. Or my point is that as
investors we can We're more flexible than a retail buyer,
so act like it right, solve the problem that you
can buy a lot of houses. So that was four reasons.
The fifth one is the most important, A warm transfer

(09:37):
of trust from someone in senior living. To me, remember
the analogy of four of us are brothers and we're
dealing with like a placement agent or somebody. When that
placement agent says, hey, Phil, give Cindy a call. She's
the most trusted buyern town. She makes this problem go away.
You better believe we're gonna listen to Cindy. We're gonna
give Cindy a chance because that person. Do you think
it's more important for the buying the house or mom's
end of life care? Right? If we're trusting that person

(10:00):
with our moms into black care, and that person says, hey,
I have a person for your house, we're going to
give that person. They're they're fair to obways say you
could be halfway incompetent and buy a lot of houses
if the transfer of trust is there. So that's five
reasons you think, Okay, great, I'm in I want I
want to buy type of leaves.

Speaker 2 (10:16):
Guy.

Speaker 1 (10:16):
Also, could you also refer to that as just like
having a friendly exchange?

Speaker 4 (10:21):
I do that a lot. I mean know, you're talking
about reciprocation of my UH seniors to them. Is that
what you mean?

Speaker 1 (10:26):
The warm transfer of trust in general? Isn't that typically though,
like just a you know, a very a very friendly transfer.

Speaker 4 (10:35):
Oh my gosh, the nights they set me on a pedestal.

Speaker 1 (10:37):
Guys, right, Okay, I can clarify. I think that we're
that that's an underrated one. I like number five the best,
but yeah, go on, M's number sick.

Speaker 4 (10:46):
Five is the best. Five? Is that warm transfer of
trust is the most important. You can mess up all
the other ones. If you have that transfer trust, you're
probably gonna be okay. The sixth reason is literally just
the cherry on top. These leads are free. And why
are they free? It's because I help the senior limiting
industry to be more profitable with the clients they already have.
Who doesn't want to make their money quicker easier? Right?
And so you have those six reasons together, you're like, okay, Phil,

(11:08):
I get it. I totally get it now. The difference
is that some people don't have the ability to get
the investor mouth out of their mouth right, the investor talk.
Some people just can't do it. They just don't know
how to have that other side that, that empathy. I
know we're all guys on this podcast, but I want
I want the females to listen up right now. I
think that Mom's house. I think women have the advantage

(11:32):
in what I do. I'm a guy and I'm successful,
but I think women have the advantage because inherently they
have more empathy than us guys do. So that's my
two cents on that.

Speaker 1 (11:42):
Oh I love it.

Speaker 5 (11:43):
That's awesome, and it's this isn't something where you can
just walk into our room swinging your stuff and get
in these free leads. And that's why the three days
with You it maps out like who you need to know,
why you need to know them, how you need to
talk to them, how you need to approach him, in
the relationship you have to build in order to make
all that happen the way it needs to have, which
is really cool.

Speaker 4 (12:01):
Thank you, Dot. I didn't answer the question they asked me.
That was the that's right. That's what we do in
the three days is we build that out. Uh, there's
a psyche of there's about twelve different job titles that
have been good to me. Just imagine, guys are proprietor
of a senior living community is very different than a
social worker.

Speaker 2 (12:17):
Right.

Speaker 4 (12:18):
One's an entrepreneur, just like us, owns a giant multi
family and multimillion dollars and somebody else makes eleven dollars
an hour. You don't talk to them the same way.
And you can't have one elevator pitch for all of us.
And that's why we go deep into the psyche of
the person that you're sitting across from.

Speaker 6 (12:33):
Right, Yeah, And I think that goes into just regular
single family real estate for us all as well, Like
are you dealing with a million dollar home and that
buyery dealing with someone that's, you know, a thirty thousand
dollars home?

Speaker 2 (12:45):
Right? But I agree, so Peel, when you I have
a question, are you running? You know, we teach and
a lot.

Speaker 3 (12:53):
What I think all three of us do is that
we're locking deals up virtually. We're locking deals up over
the phone. Are you going or not? Maybe personally, but
you teach that you have to get in the house
because of that relationship building, You've got to get in
front of these people.

Speaker 1 (13:09):
That's similar to the question we got right now, Fellas.

Speaker 4 (13:12):
Yeah, that's a great I love that question, and I've
what's the word not on purpose. I had to become
a virtual wholesaler because I don't have a coverage map
that covers the whole nation. So I always say, I'm
in the hugs and kisses business, Gavin, So I want
someone local there to have my training and go in
and give them that tender love and care that they
need in that moment. But because I'll get a lead

(13:32):
in Brownsville, Texas and I still want to help that family,
I don't have coverage in Brownsville, Texas. I've become a
reluctant virtual wholesaler, and so I'm trying my best to
keep that mom's house feel, that mom's house brand of
fixing that problem. And so it's a chicken in the
a problem I've got. I've got about six hundreds a
month to come in nationwide. I seem to be fifteen
hundred to two thousand. That only exacerbates the problem of

(13:55):
my coverage. You see what I'm saying, and so like I,
every month I had a new certified investors, so that grows.
But then it's my leads also grow too. So I
think in three years I might not be doing the
education the way I do today. If I have the
coverage map that I trust, got it?

Speaker 2 (14:09):
No, that's really good.

Speaker 3 (14:10):
And with these leads like you get six hundred, you know,
across the country. For us again speaking for us three
in our businesses, we know that a lot of it
is about follow up with these situations. I guess, are
these moves of the are these leads being closed much
faster because there's more urgency there Again, Mun's going into

(14:32):
a care home and things are happening very quickly, or
are you still seeing the deals that you're doing on
a long follow up schedule?

Speaker 4 (14:40):
What do you call it? Consider long, Devin?

Speaker 3 (14:43):
I would say, depending on location, probably three to four months.

Speaker 2 (14:47):
I think we're on average three to four months.

Speaker 4 (14:50):
I mean, my mind, three months is not a long
time for a process. I just had a discussion this morning,
so I can speak to it pretty easily. The family.
When you move from your friends her home into senior living,
that's not a little deal. That's a big deal, right,
And so they they're starting to go check out seing
their living communities. They want to make the right decision
because it is such a big deal, but they know

(15:12):
they need to sell the house in a locked equity.
So it's like one of these conundrums where if they
knew what their house is going to sell for, then
that would let them be more. It's one or the other. Right,
they either pick out the place and then figure out
how to pay for it, or they get their house
under contract and know how much money they have.

Speaker 1 (15:26):
Yeah, and it's probably the first one more than the second, right.

Speaker 4 (15:30):
Yeah, right. And it's funny because they're.

Speaker 1 (15:32):
Not prepared no place in a hurry, right, yes.

Speaker 4 (15:36):
Yes, And they need to find a place in a hurry.
And then they go, well, how much money do I
have to spend? Right? We take her? We don't take
our mom to the cheapest place town here to the
nicest And so it's like that. The answer is both.
I get every day in my leads, I get both
people that need to sell like yesterday, and I get
people to say, hey, we're looking at these three places.
As soon as we picked this one, then we want
the how much you're going to pay pay for the house.

(15:57):
It usually has to depend on their checkbook, and there's
a sense of urgency, right A lot some people have
a lot of money, guys, but most do not. Most
are living on that pension and they don't know how
they're going to survive those few months while they wait
for their house to sell or get their house ready
for the market. And so that is why that sense
of urgency is there to sell agreed?

Speaker 1 (16:16):
Agreed?

Speaker 2 (16:18):
Follow up?

Speaker 4 (16:18):
Hey, the answer question, Kevin, Yeah, follow ups a big deal. Yeah.
I mean with anything, you have to follow up. But
I think if you look at like direct mail, you know,
you spray and pray hoping that one day they'll sell.
This is if we can narrow this down to a
three month window where they've literally raised their hand say
hey guys, I need to sell in the next ninety days,
that's a dream for any of us. I think that's
a short window in the grand scheme.

Speaker 3 (16:37):
Yeah, and I guess, really, I guess I could break
that down one more time in terms of though it's
yours a three month process because their interest is there
and you're building that relationship and you know that it's
going to happen. It's just going to take three months,
versus we're like, no, not interesting, it's not going to work,
and then three months later, boom, we're back in and

(16:59):
we get the contract. See the difference where you'll find
a massage in the lead over a period of time
to get it over the over the line.

Speaker 4 (17:06):
I guess never never remember that number one is they
need to sell versus one too. So it's never They're
just maybe not going to go to senior living. It's
always the logistics of where is I'm going to move to?
So I would say most of my deals are done
inside of thirty days.

Speaker 1 (17:19):
Okay, does anybody know who Sean is?

Speaker 4 (17:21):
Sean no idea.

Speaker 1 (17:23):
I'm kicking them out. I want this to get hijacked.

Speaker 2 (17:29):
I don't know. I was waiting for a lot of
you guys.

Speaker 1 (17:32):
You never know. He can kick us out and be
on all of our socials. Smart Way, smart Way, awesome Bill.
How much time are you spending in the lou Man?
How much time are you back here?

Speaker 4 (17:43):
I'm here quite a bit. The lo is like a
warm blanket for me, right I've lived here my whole life,
and so I'm building out an event space right now
that I'm getting ready to start giving to the well
the senior living industry, but also the real estate industry.
So you guys, if you guys want to start doing
your live coffee with closers, if it and put a
one hundred people in my room, I've got the place
and I will give it to you for free.

Speaker 5 (18:04):
All right. And that that's in Saint Louis, right.

Speaker 4 (18:07):
Yes, sir, that's in Chesterfield, and it's a beautiful space.
I'm spending a lot of money on the It's gonna
be a great place to go to the super Bowl
because I'm never giant screens everywhere in lights, and it's
gonna be I mean, it's it's really a concert venue,
you know.

Speaker 5 (18:20):
Sounds good to me, all right, We consider me the
consider me the first booking because I want to do it,
all right.

Speaker 1 (18:25):
Yeah, you having me?

Speaker 2 (18:29):
You never want filling down in the same place.

Speaker 5 (18:34):
Come on, no.

Speaker 4 (18:36):
Perspective, you know, I mean my perspective is that sounds
like a fun place to be.

Speaker 5 (18:39):
You know, it's a great time every Sunday.

Speaker 2 (18:41):
It's a great time.

Speaker 1 (18:44):
Yeah, awesome. I could take notes while you were talking,
Phil and they didn't come out right because it's coming
from stream Yard and it synsicates to Facebook and YouTube,
so powerful team builders. We can review real quick. This
is oh, I'll do it here right here.

Speaker 4 (19:03):
Basically we sell the house almost always on that right
I can add value to the house. Less competition, warm transfer,
tress are free, dang perfect.

Speaker 1 (19:10):
That was mom'shouse dot com to learn more information, guys.

Speaker 4 (19:14):
There you go, guys.

Speaker 1 (19:14):
So yeah, quick list of six. We'll leave that up
there just for a minute here. I don't want to
black you guys's faces out for too long, and we
can obviously drop that back in here later. If anybody's
watching that has questions for Phil, now's the time to ask.

Speaker 4 (19:30):
Guys.

Speaker 1 (19:30):
We really appreciate you watching. This is all about you.
We love getting together and networking, and I love bringing
guests song because I get to see old friends that
I may not have seen recently. It's amazing. Uh. We're
learning always constantly. That's why we do these things, and
we're here to give back as well. So we want
you guys to learn with us. If you have any questions,

(19:51):
please drop those in. Phil win the next event end of.

Speaker 4 (19:56):
August here, it's going to be the thirtieth thirty first September. First,
that's a Monday, Tuesday thirty, first September.

Speaker 1 (20:01):
First three weeks.

Speaker 4 (20:03):
Yeah, three weeks, Mom's house dot com slash three day.
It's going to be the first event in my new
event space.

Speaker 1 (20:08):
Awesome, very cool. How long does it take somebody to
build the relationships that are necessary in your new model,
because it doesn't seem to me like you're coaching people
on you know, for example, lunches that me and you
had two years ago about how awesome this business was
and how I could do these things to now almost

(20:31):
to the to the place to where you're giving leads
to these people, right Like it's I haven't seen you
very very just very much.

Speaker 4 (20:37):
I've been working harder than I ever have. Yeah, yeah,
the answer your question, you know, in the beginning, I
say you should work about three to five hours a
week building these relationships. I literally ask for the sale
on my second sentence to new people that I meet.
So I'm not telling you to build a relationship for
six months and then ask for a sale. That is
not how this is done. I don't have time for
that either, right, and so in the second sentence, I

(20:59):
asked for the sale, and I do it in a
way that presents me as a solution for the senior
living industry, not as a realtor, not as an investor,
and so some of my students. Right now, I'm working
with this guy named Reid in Florida. He took my
class the one before. It's about five weeks ago, and
he's got a deal right now, and he's he's got
a cash offer and he's got an offer from a
finance person. I'm like going back and forth with him

(21:21):
trying to I want to he's gonna make like fifty
grand on this deal, so I got I'm gonna get
Hi across the finish line because you know, it was
five weeks ago and he's doing a deal, so it
can happen very fast because the people I teach you
to network with. Here's the loaded question, guys, the one
hundred thousand dollars. If you guys have pencils ready or
write this down. Do you ever have a situation where
they want to move mom in but they can't until
they get the household. It's usually met with a laugh

(21:41):
because they're like Phil every day, that's what I deal
with here. Are you working with anybody that's going through
that right now? That is what I just said, there
are working with anyone that's going through that right now,
and it's gonna get one of two answers. They're gonna say, yeah,
you should meet Julie. Her mom's having a hell of
a time, you know, getting the house ready for the market.
They could use the cash, or they'll say, oh, you
should have met Fred he could. I wish I would

(22:02):
have met you a month ago. Either way, answer you,
I'm like, that's my girl right there. She just understood
my problem. She knew that I fix it. And then
thank you Thomas.

Speaker 5 (22:12):
You're not just You're not just solving their problem though,
you're solving your problem too, because how many times you
think about it, and everybody listening to this, how many
times do you come across the situation where the seller
is an elderly seller and they don't have any place
to go, and they don't they don't know about their
options or solutions. We didn't know about the options and solutions,
and suddenly like we had a we had deal we're
working with in the Bay Area. That's you know, it's

(22:34):
it could be a six figure assignment fee when it's
all said and done. And the gentleman was wasn't sure
if he had memory issues, he needed memory care, and
you know, there's a lot of questions and we didn't
know where to point. And we came back from your
event and we made a few phone calls and connections
and we create a relationship with somebody who knew where
he should go and what tests and doctors he should
see to find out what care he needed. And boom,

(22:57):
the extremelined the process for us. And now we have
a situation where you know, we're going to get this
deal that would have taken us who knows how long
to get the problem solved. You didn't have family, you
know that kind of thing. So, and that's another thing too,
is they don't have family. We need somebody that's a
neutral third party to represent them to make sure that
nobody can come back and say you taken advantage. And
we got that now. So it killed multiple birds of

(23:17):
one stone.

Speaker 1 (23:18):
YEA wow, that's amazing, Yeah a really good.

Speaker 5 (23:25):
So I will say that since it's Phil is a closer,
I want to pivot, since we are coffee with closers,
and we know we know Mom's house is the ship,
right and that Phil has been a closer for a while. Phil,
So what do you what do you think? Obviously you
have a magnetic personality. I'm not just saying that it's you.
You You definitely have a tremendous amount of energy. But
what would you say your your secret is to to
getting sellers to sell to you over your competition? What

(23:47):
is what is it? You feel like what we're let
me back up, when you first started was easy for you?
Did you have hurdles? You know what hurdles were they?
And then what was what? What did you figure it out?

Speaker 4 (23:56):
Was your winning strategy in the s industry or.

Speaker 5 (24:00):
Just in general as acquisitions.

Speaker 4 (24:02):
Okay, so you're talking about not not in the senior industry.
That's a different conversation, because I did have problems there.
I've always been good with sellers. I think my magic
is anyone I meet, I can start a conversation with
him as if we've known each other for the past
thirty years.

Speaker 5 (24:16):
Yeah, Dave, the same way.

Speaker 4 (24:18):
Right, It's almost like we haven't seen each other in
a while, and we're catching up from what.

Speaker 1 (24:22):
I've known you in past lives.

Speaker 4 (24:23):
Bro.

Speaker 1 (24:24):
Yeah, yeah, yeah.

Speaker 4 (24:25):
And that's by the way, and and and like little
things like here in Saint Louis, we used are we
still have a Boeing. I used to be McDonald douglas.
So everybody in North County there's like a There'll be
like a chotchkey jet airplane. I'll be like, oh, so
dad worked for Boeing or McDonald douglas. And they'll look
at me like, how the hell did you know that?
And I said, well, everybody's kind of plane up here.
You know, I'm talking about everything but the house. I've

(24:47):
been through so many houses. I'm taking my rehab notes
in my in my head, but I'm really talking to them.
I love to know their story. I love to ask
them which house or which room they snuck out of
when they were a kid, because a lot of time
these are the houses they grew up in. I like
to ask them did they like their uncle? That's a
funny one.

Speaker 2 (25:05):
You know.

Speaker 4 (25:05):
You're like, hey, did you like them? And they're like oh,
And then that gets funny because they either do or
they don't, but either way, they're talking about them and
they get to know me that being six I'm six
foot three almost well, I'm a big dude. So I'm
this personality until it's time for the offer, and then
I'm gonna sit down with them and be at their
eye level, or I'm gonna be below their eye level,

(25:26):
and I'm gonna go quieter, and I'm going to talk
to them about how we're gonna fix this problem together.
All of my closings is from the same side of
the table. And when I that's that's figuratively, I'm gonna
try to find a solution. They can say no to me.
That's the other good thing about me and your closer.
I'm truly disconnected from the outcome. Meaning if they tell
me no, I'm gonna give them my best foot forward.

(25:48):
I'm gonna give them my credibility packet. I'm gonna treat
them just like they said yes to me, And I
think treating people kindly. They can see that in me
that I'm there to help. If they say yes to me,
I'm gonna make some money if they say, don't know
to be able to move on to the next one.
And so I truly come from a place of love,
and I think that shows and how I treat others.

Speaker 5 (26:08):
So let me let me see if I heard this correctly.
It's not about the product, it's about the person and
the problem that you're able to solve, you help find
a solution, and there's zero emotional connection to the yes
or no. It's simply can I solve your problem or not?

Speaker 4 (26:23):
That's right, and I'm going to.

Speaker 2 (26:27):
Yeah. And I think that's what closes is all about.

Speaker 3 (26:29):
Right, And you know you're not there doing the push close,
you're not getting aggressive, you're not you're not using that,
You're just using you know, but by being kind personal,
great personality and again treating them, not getting passive aggressive
with the they said no and then you're gonna get
all boisterous. You're just playing it like they said yes,

(26:51):
you're saying in that same personality role. I'm sure that's
what Then they come back and actually do it and
move forward with you eventually. So that's awesome really.

Speaker 5 (27:00):
And that's I mean, honestly, the biggest mistake people make,
in my opinion. You know, there's there's a number of
mistakes people make, but some of the biggest mistakes is
they make it about the house and not about the
person of the problem, which is Phil said, he did
you know at the end of the day. But then
they it's you walk in like you have to have
the deal, you walk in the thirsty I gotta have this.
I have to get this deal. And people can smell

(27:21):
that all over you.

Speaker 1 (27:23):
Yeah, you're not buying the house from a house, You're
buying it from a person, right. You gotta play the
people game.

Speaker 4 (27:28):
And in my days, they're going through one of the
worst times in their lives, right, and so they're fragile, right.
They don't need to be dicked around at that moment,
you know what I mean. They do not need that,
And so I get to be I hate to say
the word hero, that's a little little grandiose, but I
get to be the hero in that moment that they've
got bad news, bad news, bad news, bad news. This
is gonna go easy. Oh, you know, I can see

(27:49):
the wakem off their shoulders especially. I'll tell you the
best example ever is if you ever get a son
in law who's it's his wife and that family, he
never wants to come back to that house ever again,
you can buy that house on site because he is
ready to never come back to that house again. He
is ready to sell it if he's one put in charge.

Speaker 1 (28:06):
You know, they phil from the from the large amount
of leads you're seeing, how many of them are the
are the spouse versus the airs. Just random. I'm curious
because I'm weird.

Speaker 4 (28:17):
Half and half and I wouldn't even say it's the spouse. Uh, Guys,
we die first, so it's usually the mom is being
held by the adult children. Dad died eight years ago.
Pretty common.

Speaker 1 (28:26):
Okay, Yeah, that's true. Okay, hence why that's why.

Speaker 4 (28:29):
It's called mom's house. By the way, Dad's still alive.
They still what do we They lovingly say, Hey, what
are we gonna do with mom's house? It's his mom
ran everything right. So, by the way, guys, if you
ever want to make it to senior living as a man,
you're out number seven to one, So you can dance
a lot if you'd like to dance in senior living.

Speaker 5 (28:46):
I don't. I don't think dance are some of the
stories you're talking about.

Speaker 4 (28:48):
But I mean that's the other thing about seniors too.
I think people in America we only we we really
put a lot of value on youth, and we don't
give a lot of value to old age. Seniors are
no different than the four of us right now in
forty years, the same hopes, dreams, desires, just the same
goofy guys that we are. It's going to be just
like that when we're eighty, and I treat those people

(29:09):
just like that, you know what I mean, we're the
same guys as we are right now. We're just eighty,
you know.

Speaker 5 (29:15):
Yeah, it's funny.

Speaker 2 (29:16):
Well, I think you and you and Donna a little
had to mean day. But I get you point.

Speaker 4 (29:21):
I'm twenty eight. I don't know about it.

Speaker 5 (29:24):
I just turned twenty seven week now.

Speaker 1 (29:25):
I don't see, man, I'm excited about this event. Phil,
I don't know if I'm going to be in town
that weekend. When's the next one.

Speaker 4 (29:34):
After that mid September? Well, I'll call you about it.

Speaker 1 (29:37):
Cool. So you got these going every three or four weeks.

Speaker 4 (29:39):
Yeah, that's why I built the event space, right. I
want to be in this world we live, and I
want to control my own destiny. You know, it costs
a lot to put these events on it, like casinos
and things, and I just didn't want people distracted. I mean,
I know I would be distracted there was a casino
during the event. I mean, maybe I don't need that
afternoon session. I'm gonna go. You know, I just wasn't
on brand for us, and I think with my give
back to not only the local senior living industry, but

(30:00):
also the nationwide real estate investor world. Want I need
to grow this thing, guys, I've got a problem. I've
got these nationwide leads coming in and I want competent
people to work them. And I hate to even say
this out a lot, but we're working on a deal
right now that could be around forty thousand leads a month.
I don't even know what to do with that. It's
honestly too much. And so we're talking about venture capital

(30:20):
and like, really growing this thing fast. I really think
this new category is real estate and I'm shining in
a big bright light on it, telling the world this
is where real estate deals are bought from.

Speaker 1 (30:31):
I totally agree. It's amazing. Tell us a little bit
of the statistical data on age. I would think you
would know some of this, right.

Speaker 4 (30:37):
I know a lot of it. Yeah, boy, Philip, you're
in such a nice little niche and they're trying to
be kind, but they don't understand that they're probably in
the little niche. A good example is probate. We all
probably like working probate deals here. They're pretty great. They're
my second favorite leads. The problem with probate is that
the four of us are brothers and moms passed away.
We're going to fight for our one fourth share because

(30:57):
what's in it for us? It's our money, right, We're
going to care about every single dollar or only going
to be transactional when mom moves into senior living. Nope,
you know whether we get ninety six rand for the
house or ninety two grand or eighty eight grand, it's
like that money's gonna go sit in an account until
it's whittled away until Medicaid kicks in. And so it's
the only time I've ever seen where trust matters a lot.
But it's not so much the price of the house.

(31:18):
So that's really great for us the investor. Your question was,
is the stats seven out of ten Americans over the
age of sixty five will live in some sort of
assisted care before they pass away, seven out of ten.
So that tells me and this demographic almost always owns houses, right,
They're the ones that own all the houses.

Speaker 1 (31:37):
To take care before they pass away.

Speaker 4 (31:39):
Before they pass away. So that's why people have lovingly
called what I do is preprobate, the pre probate system,
and so no one's passed away yet, and so this
is about twenty eight months before that is the average
we live in. Senior men make it about twenty one months,
and senior living women make it like thirty seven months.
With the blended average is twenty eight.

Speaker 1 (32:00):
Months on average, twenty eight that's it.

Speaker 5 (32:03):
Oh man, you're like halferine my day and half crazy.

Speaker 4 (32:08):
Oh I get it done. Remember that exercise we did.
We show how many you know, the average man, how
long you live, and how old you are, and how
many summers we have left. It's like, you know, seize
the day, my friends, kiss your loved ones. You know,
like was not promised to anyone. It's made me grateful
for what I have to work and senior. That's also
made me a minimalist I work with. Do you guys
know what you call don You can't answer this because

(32:29):
you've been through my training. What do you call a
hoarder that you like? An aggressive collector?

Speaker 1 (32:38):
Mom was a bit of an aggressive collector and then
aggressive collector.

Speaker 4 (32:42):
I like that.

Speaker 2 (32:43):
We should we should have asked on if he was listening.

Speaker 4 (32:45):
Yeah, work.

Speaker 5 (32:50):
On every word, brother, on every word.

Speaker 1 (32:52):
Man, that's crazy. Twenty eight months on average living in
a senior facility I would have thought it would have
been way longer than that.

Speaker 5 (33:00):
No, you didn't hear the part where he said men
are seven months.

Speaker 4 (33:03):
Yeah, No, it's men are seven to one out numbered
by women. Okay, yeah, yeah months and women are like
thirty seven.

Speaker 5 (33:10):
So that's okay, or twenty months.

Speaker 1 (33:12):
Three years though, so.

Speaker 5 (33:13):
You know, when your family moves you in, you got
about two years.

Speaker 4 (33:17):
That's right, you need the best of it. Oh and
you know how the times people have said I want
you to buy the house for what dad's new care
costs for two years, I'm like, well I don't. I
don't buy your house based on how long dad's gonna live.
That's a morbid deathmath that I can't do. You know.
I buy it off of what the house is worth.
But that's that's what the seller's caring about. See, there
is some there's something to that. They're saying, get us
to that two year mark and then we'll figure it out,

(33:37):
you know, because they're just trying to figure out the day.

Speaker 5 (33:42):
That is. That is totally different math though than like
you're talking about on the probate, where you have three
brothers and the houses worth sixty and they all insist
that they're going to get thirty each. You know what
I'm saying. It's it's a whole different situation. So yeah,
and I guarantee it exactly, But that's what happens in
well I want thirty yeah, yeah, but you do the math,
that doesn't compute. But in this situation, you can see

(34:04):
why the discount is there because the math is different.
They're just trying to get mom's problems solved and getting
care covered until, like you said, until insurance kicks in,
until other things kick in and for and they're looking
at the math over a certain time period. They're not
thinking about their own pocketbook because in that moment in time,
the money's not theirs.

Speaker 4 (34:21):
It's not theirs, and it sounds like it probably never
will be theirs, right, That money's going to be spitting
down until it's gone anyway. Right.

Speaker 5 (34:27):
So it's a whole diferent. It's a whole different situation
than oh, well there's a gold mine there and I
want my share, and I'm going to be completely unrealistic
about it and make everybody fight with me.

Speaker 4 (34:35):
Yeah, And got rid of that completely. And that's the
only type of lead I've ever found where it's that
way everything else. They care about every dollar.

Speaker 1 (34:41):
Yeah wow, that's awesome.

Speaker 4 (34:45):
I've got some other stats that show and the year
nineteen sixty, how many people were over the age of
eighty in the United States and how many and twenty
sixty are going to be over the age of eighty.
And it's just like it's like this in nineteen sixty,
and it's like this in twenty six. Like it's millions
and millions and millions and million and kind.

Speaker 1 (35:00):
Of moving through the thing.

Speaker 4 (35:01):
Yeah. Wow, the boomers are moving through the thing. And
so there's more boomers turning sixty five every day than
there is kids turning eighteen. That's the two largest demographics.
We won't get political on this phone call. Are this
live thing that we're doing. But Biden is trying to
take away the four oh one k right now to
give it to in home healthcare to keep people from
moving into twenty four hour assistance or you know, Medicaid

(35:24):
because it's too expensive for them. They would rather pay
nana's niece to come take care of them in house
than they would and so they want to literally they're
trying to pay your relatives to take care of gram. Well,
that's how big of a problem.

Speaker 5 (35:35):
This is and that's not going to create any kind
of social issues at all.

Speaker 4 (35:39):
No problems there of course. But that's a bigger problem.
Is it's truly that they call it the silver tsunami
for a reason. It's really a problem. But if you're
positioned right, the silver tsunami, but that's my house is
here over the next twenty well, what's a tsunami do?
It creeps up slowly and then it's too late. And
so I'm trying to prepare everyone right now to absorb

(36:00):
over these houses. And that's the other cool thing about
what I do. It's not based on this really great
economy or whatever we want to call this real estate
that's going on. I actually get stronger in a down
market because they have less options on the retail side.

Speaker 1 (36:11):
Yeah, I would, I would think, so I'm a future proof.
This is the hardest market for any investor, just because
you know, everybody knows that the inventory is at an
all time low. Yeah period, you know. So Scott has
a question, Phil, how do you find your leads?

Speaker 4 (36:27):
They come to me. I build relationships in the senior
living industry. They're my filter. They know what I'm looking for.
I've trained them to show me bring me deals that
I'm looking for. And I get a text or a
phone call or an email that says, hey, Phil, can
you come make an offer in this house on Tuesday.
I'll be there at two thirty. And I'm like, yes,
I can. So I'm truly in the house buying business.
I'm not in the marketing business anymore. And I think

(36:47):
a lot of us in real estate we're really in
the marketing business, trying to make our phone ring to go.
Be in the house buying business, Yeah.

Speaker 5 (36:54):
I are. We're marketing companies first, Yeah.

Speaker 1 (36:55):
Marketing companies first always.

Speaker 4 (36:57):
Yeah.

Speaker 1 (36:58):
Yeah, great question, Scott. Uh, let's see here. It looks
like we got to already had mad on here. That's awesome, guys.
If you got questions for Phil, we got about another
twenty minutes. We're gonna open it up for Q and A.
If you're watching like and share, we appreciate it. It helps
us reach a wider audience, and we are always here
to help you guys. So this is awesome. I'm really

(37:19):
enjoying our time with Phil. Gavin. Are you in Michigan.

Speaker 2 (37:23):
I am, Yeah, I'm in Michigan right now. Yeah, I'm
in they all.

Speaker 1 (37:26):
Va amazing and don you just got back from a
mastermind in Austin.

Speaker 5 (37:31):
Austin, Texas, got a.

Speaker 1 (37:32):
Good movement and shaken.

Speaker 4 (37:33):
That's a fun city. Did you have a good time to done?

Speaker 5 (37:36):
I had a great time down in Austin, you know it.
It took me three attempts to find good barbecue. I'm
not gonna lie, actually fourttempts to find good barbecue. But
Terry Blacks. If you're ever in Austin, Terry Blacks has
the best beef rip I've ever had in my life.
We rode birds a lot around that city, which was
a good time that. You know, you have birds in
big cities for some redayson. Austin was a lot more
fun and we had probably I would say, you know,
we we launched the Intercircle League just before COVID and

(37:59):
we had two meetings. COVID hit, so we had some
virtual meetings and then you know, we sit at the
end of two thousand and uh, there's twenty twenty, right,
twenty nineteen twenty we started doing our in person meetings
again and we've just been building momentum on those and
this one was hands down, probably the best meeting we've had.
Since we've been back from COVID. Just the energy in
the room and the excitement about what's going on was

(38:19):
really cool. So Austin was a good time, good time.

Speaker 1 (38:22):
Yeah, guys that we're interested to learn more about that
mastermind be in this room. Dot com.

Speaker 5 (38:28):
I just heard.

Speaker 1 (38:29):
Yeah, awesome, awesome mastermind. I missed this one because I
had to go on trip with the wife, but I
am going to be at the next one.

Speaker 5 (38:36):
The next one Nashville is Nashville.

Speaker 4 (38:39):
I Nashville too, that's just mind I could have.

Speaker 5 (38:42):
Yeah, well we don't have with me.

Speaker 1 (38:45):
Man, sounds good. We'll make a weekend out of it.

Speaker 5 (38:47):
Fourth and fifth and November Nashville, Tennessee and Nashville is
a fun city to be in.

Speaker 4 (38:54):
November fourth and fifth. I'm gonna be on stage at
the Oria. You guys ever hear that one of the
biggest conferences Uh'll be speaking of that I've not done.
The live speaking is two ninety minute sessions of me
talking to a recorded podcasts. But I know what I'm
gonna say. I feel like I won't I say I
won't be nervous because I don't I'm gonna talk about
But it's I'm sure, it's gonna be different with eight
hundred people in front of me. You know that's gonna

(39:15):
be a different eye opening, uh scenario.

Speaker 1 (39:19):
Hey, Phil, you have many whenever you have leads coming
in on average, Because this is a great question for you, actually,
because you were in this game when I got started
in this game, and when I first met you, I
had just listened to you on the Bigger Pockets podcast.
I believe local Rea that you were at You weren't

(39:41):
even like talking, you were just there. And I came
up to you and I was like, I'm not going away.
It's August eleventh, twenty twenty one. I'm still here. Bro, buddy,
I love it. So my point is is that you
you've you've seen a lot of things. So the question
is when you were dealing with the mom's house particular leads, right,
or that industry specific type of lead versus all the

(40:05):
other types of leads that we work cold call, cold text,
And I'm talking about investors in general, right, direct mail
from driving for dollars, radio advertisements, billboards, right, I mean,
whatever that niche may be. AdWords, are you seeing less
or more competition on them? On the elderly leads in

(40:27):
comparison to the to the other ways that we generate leads.
Because we are a marketing business, I kind of want
to circle back to that.

Speaker 4 (40:33):
Yeah, only from the retail front. Probably. I always say,
if they didn't want my service, I'd probably never get
that call. Like if they were going to take if
they were going to rehabit themselves, I never got that call.
If they were going to list it themselves, I never
got that call. So I really only get the calls
that they they're like, oh, I want to hear what
this guy has to offer.

Speaker 1 (40:51):
And so the retail side is the is the competitor
versus Yeah.

Speaker 4 (40:55):
More more than more than the industry of investors. I
would say the retail side is my your competition right now?

Speaker 1 (41:01):
I figured that was the case, but I wanted to
ask anyway though. But you're very right. And I think
when I col call somebody for their investors, cold call
them this month. Yeah, And the only reason they're talking
to us is just because we, you know, care more
about them than the property. And we're going back to
rule number four of making the warm transfer and just
making them making a friend. Maybe you can make a joke,

(41:22):
make them laugh a little bit, get their attention, don't
waste their time, you know.

Speaker 4 (41:26):
And I've got a social worker that does my front
end calls and she's talking about everything but the house.
Oh everything, Yeah about Hey sweetie, what's going on in
your life right now?

Speaker 1 (41:35):
Yeah?

Speaker 4 (41:35):
No, I don't even believe what's going on in my life?

Speaker 1 (41:38):
How is the solution to it? Yeah, the house is
usually not the problem f times, but usually not.

Speaker 4 (41:45):
But it takes trust first, and that's the hard part.
I think it's hard to stand out a lot of
other types of marketing, and that warm transfer again sets
me night and day. But it's almost like a secret,
right It's like, Hey, talk to Phil Man. He's my guy,
you know, like you know what I mean. It's it's
it just sounds different. I imagine it. I liken it
to this, and it's even more powerful to this analogy.
But imagine the postman walking up to your front door

(42:08):
with those thirty eight postcards you got that month, and
he says, don't call these thirty seven. Call this one guy.
And that's the postman. So you would probably listen to him.
You're like, oh shit, what's he No, but this is
not the postman. This is the person giving you your
mom's ind of life care. Right, it's not even it's
not even the same planet. It's a whole different level
of Oh shit. If that's their guy, then I'm definitely
calling Philip, because, yeah, I mean, guys, you have to

(42:32):
make a really hard decision in a short amount of time.
They are out craving knowledge. What Don said is, I
didn't know how to help that guy with this particular thing.
But once you have that solution, selling me the house
is almost the easy part when I fix all their
other issues.

Speaker 1 (42:46):
Yeah, Matt's got a question. I assume it's the director
of the facility or social services as the main people
to build relationships.

Speaker 4 (42:54):
And there's one of twelve. We don't say the word facility.
There's your first lesson, Matt. The word facility makes people
think of prison. I would not want to put my
mom in a facility. You want to start using the
word community. So there's one of my free lessons for
the day. I assume it's the director of the community.
They're called ed. That's one of the twelve. They're also

(43:15):
the hardest one to get a hold of. I liken
them to a high school principal. They're dealing with one
hundred and forty families. They're putting out one hundred and
forty fires. And if you think you're going to walk
in put your hand out and say, hey, I'm Matt
Smith and I buy a house.

Speaker 1 (43:26):
Unless you want to buy their service from them, they
don't have time for you.

Speaker 4 (43:30):
Don't even try. You're gonna push yourself in the industry
you're trying to break into.

Speaker 1 (43:33):
So yeah, there is yes one of twelve though, right.

Speaker 4 (43:36):
One or twelve. The director of the community is a
great one. I remember the day I fell in love
with the ed's executive directors. She was in a set,
you know, Saint Louis Weather. We're very well right now?
How human is an outside? Right now? Today? It's gross.
It's like a shower outside. It's so gross. And the
executive director in her pantsuit full, had a you know,

(43:57):
full makeup, nice hair. She was up in the second
story condo moving boxes down. This lady was an aggressive collector.
She was moving boxes down the second story and throwing
them in the dumpster to try to get and she
was arguing with the lady over she had twenty seven canes,
a walking cane. I'm not sure you know a cane.

Speaker 1 (44:14):
You know, like a caine, Like you could keep three
of them.

Speaker 4 (44:17):
You can keep three of them. That's exactly what she said.
You out your favorite three of them.

Speaker 1 (44:21):
They get you down on the one to let you
have a few. Three thirty of them.

Speaker 4 (44:24):
She had twenty seven, and she's like, so she's like
being a psychiatrist, and she's sweaty, like her makeups running,
and she's and I'm like, can you stop moving this
crap down to the dumpster. I'll take care of this.
In that moment, do you think that executive director was
happy to see Philip.

Speaker 1 (44:38):
Or like, yeah, I wasn't. Like, hey, in the moment
of your time, you're like, hey, you don't have to
do this anymore. I'll take care of it.

Speaker 4 (44:43):
Yeah, I say, yeah, they have a.

Speaker 1 (44:46):
The thing is is, don't call these people, right I
was done. Yeah, Like, don't don't call them, like go,
you know, if anything, go try to like drop off
a care package.

Speaker 4 (44:57):
Right, that would be if anything there, don't drop off Nope, Nope,
got to come to the training. I love that question
people asking. I know people think people listening right now,
I think Phillip does this, They say, I phil walks
in the front door. He puts his hand out and
he says, hey, I'm Philip. I'm an investor. I buy
houses from old people moving into nursing homes. In that sentence,

(45:19):
I said at least three things wrong. If not for that,
will blacklist myself in the industry I'm trying to break into.
But to a lot of investors, they think that's what
I do.

Speaker 1 (45:28):
So rephrase that sentence. Then what do you do?

Speaker 4 (45:31):
I meet them off campus. It's never on campus. Imagine
going to a surgeon when he's doing surgery. You don't
try to network with surgeons while they're on the surgery table.

Speaker 1 (45:39):
Right, I'm wrong there, it is, guys, But be hold on.

Speaker 4 (45:43):
It's easy to assume that, right, It's easy. And you
know it's funny. I had a student call me up
and he goes, hey, Phil, I'm going to make some
cookies and bring them by and drop them. This was
after he had been through the three day training. And
I said, I said, remember that moment in the three
day training when I said you should make cookies and
drop them off. He goes no, and I go, exactly
what you do, And I never, in fact, I told

(46:04):
you not to do that. So it's just funny. We
go back and that's where this training is. It's so
hard for us. They come out of the three days,
they're like, I can't wait to do this, and then
we go right back to investor and realtor talk and
I'm just that's where that ongoing mastermind, that training happens.
It's like we got a it's a different thing, you know,
And do you have to have real estate knowledge to
do this? It sure helps, but you don't have to.

(46:25):
I used to I used this analogy of the crockpot
in the vase, and the crockpot is that real estate
investor that's abrasive and transactional, you know, like most guys
are very you know, just a crockpot. You need to
hire a vase to go build these relationships. You can
still be there. I used to try a couple years ago.
I was trying to convince crockpots to change, and I
realized that was the wrong way to do it. I'll

(46:46):
help you hire the right base in your city to
go build these relationships. Because a leopard can't say the
spots for very long, you know.

Speaker 3 (46:53):
Yeah, absolutely, And that's why I guess I challenge that
question in terms of I think it's some times better
that's got no real estate experience because they're learning the
right way.

Speaker 2 (47:04):
You know, when I got into the business, I'd never
bought courses. I've never read a book. I went full
into coaching.

Speaker 1 (47:09):
I've never read a book ever.

Speaker 2 (47:11):
You know what I mean ever ever?

Speaker 3 (47:16):
And so I guess that because if you take us
or people that are doing deals in the single family
and the multi family, we've got bad habits for what
you're teaching, right, so it's actually harder to break us
because we want to go back to our comfort and
just go, go, go, go go.

Speaker 2 (47:33):
You know, let's lock this thing up, let's let's get
it done.

Speaker 4 (47:36):
And I think even if it sounds like for that
person that they might have the base qualities, but where
I have to spend my time with that person is
they're like, what's an AIRV again? How do I run comps?
What's the And so each person has the and I
try to fill on the other side of whatever they are,
whether the crock pot of the base. I try to
be that other thing for them. I can I can
fill in either one, you know, it just depends on

(47:57):
who they are. I try to meet them at their level.

Speaker 5 (47:59):
I feel like I have both the crockpot and base.
I mean, I started with pre foreclosures, door knocking, so
I had to have empathy in the conversation. But I
always knew when to go in for the kill and
ask for the clothes.

Speaker 4 (48:10):
Yeah, that makes it's rare done. Yeah.

Speaker 5 (48:12):
So, but I think I think it was a product
where I started to because I started with preferclosure, I
started with distress. I had to have the empathy right
out of the gate. I think for people who come
into this industry and they don't have to have that empathy,
the same level of empathy you have to deal with
somebody that's in distress, and you you've built your foundation
as a real estate investor, you I think you're missing
it's harder at that point. I think that acquired that
that that quality because you've had so much success without it,

(48:34):
if that makes sense. So that's the product of your personality.
I think it's also a product of your entry into
this industry as well. So a crock pot with no
experience may be able to gain empathy going into this
understanding that this is the first conversations they're having their
first their first touch of real estate and missing. I
don't know. Maybe that doesn't make sense at all. Maybe
it's just the personality trait, but I think I think

(48:54):
something by your first experiences have something to do with
it as well.

Speaker 1 (48:57):
Sure, Matt's got a great question. What type of cold
are most of the houses.

Speaker 4 (49:01):
In number three? And my reasons why these are the
best leads these houses, even if they're clean, their grandma clean,
what does that mean. It's you know, a house built
nineteen fifty eight, and say Louis might have got a
new kitchen in the year nineteen ninety, but it still
needs another new kitchen, right, and so too. Yeah, it's
just dated, right, And so even if they're clean, they're
usually full of stuff. That's a big problem. They're always

(49:23):
out of date. And so it's a house that I
can add value to. I just bought a house in
Saint Charles this week. It's the perfect house, the mid
century ranch that's clean and you can tell they cared
about it. They've owned it since new They paid twelve
grand for this house and they.

Speaker 1 (49:37):
Want It's unreal.

Speaker 4 (49:38):
It's unreal. I love the time capsule houses.

Speaker 1 (49:41):
You know, they buy it in the fifties or sixties.

Speaker 4 (49:43):
Yeah, late, Well, Yeah, early late fifties is what it
was built about it. And they've lived there the whole time,
and so you know, that's the perfect kind of house.
Some people might walk in and go, I would never
live here, But I mean it's it's a clean house,
but it was dated, right. It still had the paneling
in the wrong places, it still had the carpet in
the wrong places, you know, And so those are for
you and I us investors. It's a two week flip

(50:04):
and we're back on the market. You know, it's an easy,
easy house.

Speaker 1 (50:08):
So hey, I got a question that's kind of in
relation to this one. Then, on average, these leads, right
are they are they typically going more to fix and
flippers or landlords? I guess it pily depends on the area,
right location, location, location, of course, But generally are people
getting these leads in wholesaling them and wholesaling them.

Speaker 4 (50:29):
Too, That's what I hope they do. I have an
huide buying network. These big funds that are out there,
I mean, they're overpaying in my mind right now, so
we should be selling to them as much as we can, right.

Speaker 1 (50:40):
Okay, that's really cool. Let's see what Sherry says sounds
like a well capped ginger bread house. It's basically that.

Speaker 4 (50:48):
Have you guys seen my logo, Sherry, If you ever
seen my logo, it's a cross stitch house. Because every
house that I buy has some sort of cross stitch
in it. It's what grandma's make and put on their wall.
And so that's where the mom's house logo came from.
Is like a little gingerbread house. It was something grandma
might put on her cross stitch in a loom and
put on the wall. So that's a very good analogy, Cherry.

Speaker 5 (51:11):
That's great.

Speaker 1 (51:12):
I like it.

Speaker 2 (51:13):
Here.

Speaker 1 (51:13):
Let me see if I can't find it here it is,
let's put it up there.

Speaker 4 (51:18):
It is so that the pink part if you can
blow that part up, yeah, I hear yeah, top left.

Speaker 1 (51:24):
Yeah, oh yeah. I like it. Man, that's awesome.

Speaker 4 (51:27):
And if you see the m N the h it's
got the now we won't go to.

Speaker 1 (51:31):
Yeah. No, it looks awesome, Thank you, thank you. All right,
So Phil, tell us about these events. We got about it.
We gotta wrap this up in about ten minutes here,
give or take. So you got an event coming in
the end of the month, right August first through.

Speaker 4 (51:43):
No, sir, August thirtieth thirty First. First, it's Monday, Tuesday,
Wednesday here in Saint Louis. If you go to moms
House dot com last three days where you can find
out more about it, what I do is you're learning
about a whole entire new category. I'm not spending very
much time on how to write contracts in these three days.
It's really truly about this new industry and how you're
going to break into it. How to present yourself in

(52:03):
a trustworthy way. That's the question. In a trustworthy way,
how can you do this and be trusted the quicker
you get to trust the quicker they were going to,
uh give you an at bat? You know where baseball
fans here in Saint Louis. The more at bats you get,
the more relationships you're going to build. Another free piece
of advice is if you get someone to say yes
to you, bring that person with you on those first
couple appointments. That senior living person already has the trust

(52:27):
of that family. So if Fred is referring to me,
I want to go to that meeting with Fred and
that family because they already know and trust Fred.

Speaker 1 (52:34):
Oh Man, that's massive. You should have paid for that one.

Speaker 2 (52:38):
That's a that's a right down, damn.

Speaker 1 (52:41):
Wowing right nursing home can can see you solve the
problem with their own eyes, and guess what we who's
Stacy Collin next time?

Speaker 4 (52:52):
Well? Yeah, and even more if you, even if you
don't buy the damn house, but you treat them kindly,
Stacy's going to give you the next opportunity because she
saw how you treated her customers.

Speaker 2 (53:02):
Yeah.

Speaker 4 (53:03):
Absolutely, Yeah, that's a big deal. Yeah. And so in
these trainings how to present yourself, we do a lot
with scripts about how to present yourself, not as an investor,
not as a realtor. That's really hard for some those
guys who came in as a crackpot Gvin. You were
talking about where they started off. If they were already
a transactional real estate guy, I got to change them.

(53:23):
And it goes vice versa. Though if they were only
the care side, do they have the chops to put
a contract from in front of somebody in clothes? Right?
And so each person's different when done correctly. I think
ten years ago people maybe would get mad at me
when I made an offer, But my pitch is so
good now that no one argues with my offer anymore
because I took them on the right journey of here

(53:45):
are your options, You tell me which one works for you.
They can't be mad at numbers, right disappointed. My favorite
line is people say, oh, that's less than I thought
it would be, And I said, you know, I've about
a thousand houses. No one's ever said that was more
than I thought it would be. No one's ever said
that to me yet, you know. I mean, I'll let
you know what happens. But the point is is that, hey,
I I love it when I hand them the big

(54:07):
list of rehab items. I say, here's here's my list
of rehab items that I would do. Of course, you know,
everybody wants to think that their sister's brother used to
date a painter or you know what I mean. They know,
they think they know a couple of contractors and they're
going to rehab those things that we come on. Guys,
we all know that's not true. And so it's just
their defense mechanism to say, we're still not we're still

(54:28):
thinking about it. But if you're on these appointments in
the senior living industry, they want to sell you the
house and you just have to every reason to say, yes,
that's all you're doing in there, and so I teach
you how to do that. My students are having success.
I get these testimonials where they're saying my lines in
their speeches to people, and it's like they're like my

(54:49):
little babies. I'm like, oh, that's my baby. I send
them out in the world. Now there, you know, making deals,
And it's just it's a cool feeling because the script. Yeah,
they're using the script, you know, and and and all
I'm asking.

Speaker 1 (55:00):
And reframing of their mind, which is more important than anything, right,
that script obviously helps with that.

Speaker 4 (55:05):
That's right.

Speaker 1 (55:08):
Yeah, there's no longer a house that I'm gonna make
money on. This is a person that's got a problem.
Let's tell this problem, and we're gonna get paid for
for effort.

Speaker 4 (55:15):
And if you put daughter Judy first and all your decisions,
the senior living industry loves you. And of course as
an investor, the money is coming. We know there's plenty
of money in real estate. It's a sexy business. But
put daughter Judy first and you'll have a lot of success.

Speaker 1 (55:28):
I love it, guys. We got about five more minutes.
If you have any questions for Phil. Now is the
time to ask Phil, thanks for coming on.

Speaker 4 (55:35):
Man.

Speaker 1 (55:35):
We are incredibly grateful for your time, and as always
do we love seeing you. I can't wait to get
one get to one of your events, If not the
end of this month, definitely next month.

Speaker 4 (55:45):
I would love it, David would I have been I
have been.

Speaker 1 (55:48):
Looking up to Phil guys since I met him, and
it's probably going on seven years at this point, twenty fourteen. Yeah,
I remember when it was a real deal. He knows.

Speaker 4 (55:57):
And you know what's funny about you, David, is I
remember saying to somebody that guy is gonna make it.
I've got this saying about the people that make omelets
are the ones that break the eggs. And you went
out and found me. You took you took action, and
you took action and you took action. And that's the difference.
Uh the analysis proalysis stuns a lot of people, and
you did not do that. And you just came out.

(56:18):
And so I knew that about you long ago. I'm
not surprised you're still here, right.

Speaker 1 (56:23):
I saw that in you early on, like that guy's
I love I love this business man, Yeah, I love it.

Speaker 4 (56:31):
It's a phenomenal business. Right, and and what even in
your seven years good good example is things change, guys.

Speaker 6 (56:39):
Uh?

Speaker 4 (56:40):
If you you know we used to do the Yellow
Pages advertising, that was the phone book twenty years ago.
Even years ago, we were doing it right, and now
we don't even do it at all. So people, things change.
And if you think I'm only going to be a
cold color the rest of my life, no, right now,
that's you know, the text message blasting.

Speaker 1 (56:56):
No, everything's gonna say cyclical. This is something that doesn't change.
We are gonna need to get into a home at
some point if our kids don't take care of us,
that's great, yeah, right, and our spouses and crazy our
kids are going to be there at some point in
our kids kids. We don't live forever, period.

Speaker 4 (57:13):
That's right. And I'll tell you something about my relationships.
I don't know the lifetime value of my relationships yet
because I'm still doing deals with those same people right
now today. That relationship is still doing deal So I
don't know. It's it's still growing every month. I don't know.
I mean a lot.

Speaker 5 (57:30):
Okay, I got a random question here because we've got
abut a minute left. How many calories is in a
slice of buttercake for you Saint Louis people.

Speaker 4 (57:37):
Ooey gouey buttercake?

Speaker 5 (57:38):
How big?

Speaker 4 (57:39):
How many inches is it? Is? It like a three
x three?

Speaker 5 (57:41):
All I know is that was some of the best
stuff I've ever had in my life. And there's no
way that that's healthy.

Speaker 4 (57:46):
Hey, David, we do a taste of Saint Louis on
the first night we feed these people. Well, at my
three day we do Emo's pizza, ooh gy buttercake, toasted ravioli,
and Budweiser beer.

Speaker 1 (57:55):
Oh man, that's a that's awesome.

Speaker 4 (57:58):
That's all the belly busters all in one meal.

Speaker 1 (57:59):
But it's like, oh for turvying on that down is
eight hundred and six calories.

Speaker 5 (58:04):
Oh for one survey, which is probably like a tea spoot.
It's probably like that big.

Speaker 4 (58:09):
It's still working.

Speaker 1 (58:10):
I mean, it's so it is amazing.

Speaker 2 (58:13):
That's all right.

Speaker 1 (58:14):
Thanks good Bill, Thanks for coming on, guys, really good
wrapping up another episode of Coffee with Closers Live. Come
back next week. We're here every single week, and next
week we have a special guest coming on. Who's next week?

Speaker 2 (58:30):
Guys Mix