April 21, 2025 • 42 mins
Even if you have no time, this is how you can invest in real estate and become financially independent.
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// WHAT TO WATCH NEXT
How to Use Owner Financing to Make Loads of Money https://youtu.be/qAOpCOWvj6Q
How to Analyze a Real Estate Investing Deal in 5 Seconds https://youtu.be/SqA1HcAW4EI
How to Set Up Your LLC for Your Business https://youtu.be/B9RzLkAZI9s
Everything You Need to Know about Real Estate Comps https://youtu.be/wMZ_We-wlrg
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This podcast episode articulates the pivotal notion that one can effectively invest in real estate while maintaining a full-time job, a reality that I have personally experienced and successfully navigated. I endeavor to elucidate how this dual approach not only fosters financial independence but also provides the necessary security to facilitate real estate investments. By harnessing the income generated from one's employment, we can systematically allocate resources towards acquiring properties, ultimately leading to a state of financial freedom that liberates us from the constraints of conventional employment. It is imperative to
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Welcome to the SuccessfullyUnemployed show.
I'm Dustin Heiner and I'm hereto help you learn how to quit that
job, that just over broke job,by investing in real estate so you
never ever have to work a job again.
And speaking of jobs, many ofus have a job and you can invest
in real estate with a fulltime job.
I'm going to show you how Idid it with other businesses and
(00:20):
four kids and everything elseand how you can do it as well.
All right, let's start the show.
Welcome to the Master PassiveIncome podcast where we talk about
investing in real estate witha special focus on making enough
(00:40):
money so you can quit your joband live the dream life.
And now here is your host,Dustin Heiner.
Hey, thank you so much forbeing with me on the show today.
I really appreciate you comingand listening every single week.
(01:01):
And today I.
Man, this is something thatreally hits home to me because when
I was, I don't know, 22, 23,something like that, I realized that
I hated working for other people.
Not just that I hated it, itwas just, it was horrible and just
joking, but I had a job and atthe same time I knew that I want
(01:22):
to do something else.
I wanted to be, I don't know,basically a real estate investor.
I want to be successfully unemployed.
I really enjoy that termbecause I found a way to provide
for myself and my familywithout working that dead end job.
And I was thinking about you acouple days ago and the fact that
you're here with me week inand week out, listening to the podcast,
(01:43):
trying to better yourself,trying to invest in real estate.
Now most people, what they dois they live the weekend, they work
that dead end job, they get inloads of debt buying things that
they don't need to impresspeople that don't even matter to
them.
And they keep going on thishamster wheel or the rat race of
life.
But that's not you and that'snot me either.
(02:04):
Now the rest of thepopulation, like 90% of the population,
live paycheck to paycheck andthey're stuck in that dead end job.
But what struck me about youis that you are different.
And honestly, different is good.
Different is very good.
If we're not one of thosesheep that actually just keep working
day in and day out, justworking an hour and then getting
(02:27):
paid for that hour when weknow there is a better way to do
it, where we work for passive income.
And honestly, people like us,we have three things in common.
Number one, our potential inlife is so Much more than we possibly
even know right now.
Number two, we know we musttake charge to reach our potential.
And number three, we will notlet anything stop us from achieving
(02:50):
and even exceeding our potential.
Now, most people would notgive up the fun things in life, you
know, partying on the weekendsand all that sort of stuff.
But giving up those fun thingsin life, I will tell you, those fun
things in life are so muchmore fun, more exciting, more everything
from firsthand experience,everything's much more fun.
(03:10):
When you are successfullyliving unemployed yourself, where
you don't have to worry aboutmaking your next rent or mortgage
payment, where you arefinancially free to do whatever you
want.
And you do get there byinvesting in yourself and making
a change.
Now, it would be sad if youlisten to this podcast over and over
and over again, like everysingle week, but you don't make a
(03:33):
change.
I want to see you make achange in your life because that's
what it took me.
To be completely financiallyindependent, to be successful and
employed is we have to make a change.
We're different, you and I.
We are different than most people.
And because of that, we willmake it so much further than most
anybody ever will.
And to be completely honest,if you're not willing to invest in
(03:55):
yourself, no one will investin you either.
Like, if you're looking forpeople to help you invest in your
properties with you, more thanlikely, if you're not investing in
yourself, they're not going toinvest with you as well.
And because you listen thispodcast week in and week out and
you probably need just alittle leg up, you need a little
more encouragement, you mightneed coaching or you might need some
(04:16):
sort of more type of trainingand all that sort of stuff.
And you are investing yourselfby listening to this podcast.
I want to invest in you as well.
So here's my investment.
I want to give you $700 tostart your real estate investing.
I mean, seriously, no joke, Iwant to give you $700 to start your
real estate investing.
Now, this $700 is myinvestment in you.
(04:37):
And I only ask two things of you.
Number one, that you commit toachieving your full potential by
not giving up on yourself.
Like, don't give up whenthings get hard.
When my first property managerstarted stealing from me, I literally
could have given up, but I did not.
I knew there was a way to do it.
I knew other plenty of otherpeople had done it in the past.
So I did not give up on myself.
I invested in myself and I didnot give up.
(04:59):
Number two, the Second thing Iwant you to promise me is that you
would help and serve others toachieve their potential.
Once you've already achievedyours and you're now successfully
unemployed, I want you to give back.
That's it.
And what I want to do for youis to coach you to become successful
real estate investors.
Now, they say that a pennysaved is a penny earned.
Well, because you're a part ofthe Master Passive Income podcast,
(05:21):
I literally want to give you$700 to join my Real Estate Wealth
Builder membership.
And what that's going to looklike is I literally charge now $799,
basically $800 to start andjoin my Real Estate Wealth Builders
membership, my group coaching,the courses and the student community,
all of our contacts, theproperty that we invest, all their
(05:44):
mortgage companies, like, wegive that all to you.
And I'm only going to chargeyou $99 to get started.
You know, I'm going to giveyou $700.
Most people are paying 700 or $800.
They're paying 799.
But for you, I'm going toinvest in you.
I'm going to give you $700 offof the membership, the joint fee,
it's only going to be $99.
But here's the thing.
(06:04):
You need to invest in yourself.
And I have hundreds ofstudents that are investing in themselves
at the higher price point.
But because you're a podcastlistener, I want to give you the
join fee, $700 off the jointfee for only $99.
And you might be thinkingabout the cost and oh, man, it's
still a hundred dollars.
Well, of course it's a hundred dollars.
(06:25):
You need to invest in yourself.
Remember, if you are not goingto invest in yourself, who will?
I know I won't.
Unless you invest in yourself.
And this is how it's going to be.
By Friday at Midnight, I amyou 700 promo code.
To get 700 off of my RealEstate Wealth Builders membership,
(06:47):
go in the description.
And if you go tomasterpassiveincome.com forward/wealthbuilders,
it'll be in the description.
And you use the promo code.
Start.
You just need to get started.
S T A R T.
I'll put that in the description.
I'll literally give you 700off what everybody else is already
paying because you are here.
It's another thing I can do tocelebrate the one millionth download
(07:08):
of my podcast because I wantto see you succeed in your real estate
investing.
So you're going to get all thecourses and the Coaching the group
coaching.
You're to get me and thestudent community all of our contacts
and everything we want to fasttrack you to investing in real estate.
I want to see you within 90days have a property audit contract
where you're going to bemaking over $250 a month in passive
(07:30):
income.
So by Friday night atmidnight, the promo code is going
to go away.
Get $700 off, go tomasterpassiveincome.com wealthbuilders
and use the promo code, startS T A R t and get $700 off of the
membership and enroll rightaway and change your life.
Because remember, you and I,we're different because we know we
(07:52):
have so much more potentialthan anybody could ever pay us.
And now today we're going tobe talking all about how you can
even invest in real estatewith that full time job.
Let's say you join the RealEstate Wealth Builders membership,
you start learning, get groupcoaching, you even get all of our
contacts and areas of thecountry to invest.
We literally give youeverything of what we've done so
(08:14):
you can make sure it fits youand your business.
And then from there you couldstill work your job and buy properties.
That's literally what I didover time because I had four kids
and my wife would not let mequit my job if I didn't have enough
money to provide for the family.
I kept buying property afterproperty and I kid you not, that
job was actually beneficial tobuying more properties because I
(08:36):
made more and more money.
Now I know just about everysingle person has a job, full time,
part time or whatever.
I even do have some studentsthat are retired that they are basically
living on Social Security andthey still want to grow their business,
they want to invest in realestate and here I am trying to help
them to get started eventhough they don't have a job.
(08:57):
Now I'm going to tell you thathaving a full time job is actually
fantastic in order to start areal estate business.
Even though you and I bothknow that the word job is almost
like a four letter word.
It's a job, it's horrible.
But the acronym of job, what Ilike to share with everybody is that
job is J O B.
(09:18):
You're just over broke.
I mean your boss is onlypaying you enough to keep you working
and not paying you too much.
That's going to be taking outof his or her pocket.
If you're working for thegovernment, they're only going to
pay you just enough to keepyou working and you're going to be
like, man, this job ishorrible, but I can't give up or
I can't quit because you know,I make enough money here.
(09:38):
Well, if you're about to quit,you know, your boss might come to
you and say, hey, you know, Ican't have you quit.
Let me give you a raise.
Well, why didn't you give me araise like a year ago when I needed
it, you know, and so your jobis just overbook.
But there are many greatthings about having a job, and I
utilized them as much as Icould as I built my business.
So even though job is a fourletter word and stands for just over
(10:01):
broke, there are some goodthings about having a job and how
having a job can actually helpyou build your business even faster.
You know, imagine if you wereon Social Security.
You know, you're older andyou're on Social Security.
You don't have the ability tomake more money or get a raise or
anything like that.
Well, it's harder to investbecause you have limited funds coming
(10:21):
in.
So here are some good thingsabout having a full time job.
So to give you a little encouragement.
So number one, you have fulltime job security.
You know, it's security in you.
Even though they can fire youat any time, you have the ability
to rely on your job to bringmoney in.
And on top of that, your moneythat is coming in could hopefully
be able to save to invest andbuy more properties.
(10:45):
You know, if you're on a fixedincome, then that fixed income, it's
hard to actually get moremoney to buy more properties.
You have to figure out someother, you know, unique and creative
ways to find and buy properties.
So you have a lot of securitywhen you have a job.
And that's one of the biggestreasons why people stay in jobs for
their entire lives until theyhave to retire because they're a
(11:05):
little old to keep working isbecause it's job security.
It's security that money'scoming in all the time.
Plus you have things likehealth insurance, a full time job.
Also it fuels your growth foryour investing business.
Like it fuels the ability tobuy more properties faster.
You know, if you get a raise,do not spend that money.
Like if you get an extra $100in your paycheck every single two
(11:28):
weeks, that's $200 extra a month.
Don't think, man, I could goget another car or, you know, get
a better car and spend that money.
No, don't think like that.
Think that that $200 is extraand every single month that you can
Put in a savings account, amoney market account or someplace
that you can touch that moneyin the future, pull it out and buy
an investment property.
So the job that you have, usethat to buy more properties.
(11:52):
Use that to fuel your growthof your business so much faster than
you could if you did not haveany extra money coming in.
Here's another great thing.
And I've used this over andover again.
Now you've heard me talk aboutthe b RRRR strategy, basically re
cycling your money over andover and over again, which I've done
many, many times.
It's so much easier to getloans when you have a job as opposed
(12:15):
to when you don't have a job.
You know, when you don't havea job, the bank is going to look
at you and say, how are yougoing to repay this loan?
You could tell them, well, I'mgoing to use this loan to buy this
property and that person's gotanother person.
I'm going to get somebody elseto live in that property.
They're going to give me moneyevery single month and I'm going
to give it to you.
They would say, well, that'sall well and good, but there's no
proven track record that'sactually going to work.
(12:35):
Now unless you've been aninvestor for quite a long time like
I have, they need somethinglike a W2 or your paycheck, two years
of employment to prove thatyou're going to continually be working
so that you can pay off themortgage that you're going to be
borrowing from them.
So before I quit my job, Iactually postponed quitting my job
for an extra six monthsbecause I was working on financing
(12:57):
for properties, pulling allthe money out of those all together
to buy more properties.
And I knew that if I did quitmy job in the middle of that refinance
process of pulling money out,they would say, hey, what happened?
Well, we're not going to giveyou the loan.
And I really wanted the loanbecause I needed to buy more properties
or I wanted to buy more properties.
All that money equity sittingin those properties that I'd already
(13:17):
owned, it was just sittingthere and I was not utilizing it.
So I put it off six moremonths to quit my job in order to
get get that financing done.
As soon as that financing wasdone, literally I'm going to say
like the next day or next twodays, I said, hey boss, I'm quitting
my job.
You know, I'll give you twoweeks notice.
And so I put in a two weeksnotice and then Quit my job right
after that.
It was a necessity in order toget my bank financing.
(13:39):
Now, now that I have quit myjob and I now what the banks do,
they just look at your taxreturns to make sure that you have
money coming in.
They just, all they reallywant to do is verify that you have
money that can repay whatthey're, what you're borrowing from
them.
So I use my tax returns.
So those are just a few thingsthat are great about having a job.
You know, you have constantmoney coming in.
(14:00):
Like I would suggest, don'tquit until you actually have enough
money to replace your income.
In order to invest in realestate with a full time job, this
is the biggest thing.
So if you take anything awayfrom this podcast, any big lesson
that can help you literallychange your life with rental properties,
this is the key that I'm goingto give you.
(14:22):
You do not have a sidebusiness, like a side real estate
or I invest on the side.
You do not have that.
What I'm going to tell you isit's your mindset switching from
you having a job and thenhaving a side business.
Like give you an example, ifsomebody stranger that you don't
know comes up to you and youstart talking to each other, you
(14:43):
know, like a Christmas partyor some, some sort of party, you
guys are saying, hey, so whatdo you do?
And the other guy tells youwhat they do and the person asks
you, what do you do?
You don't want to say, well, Iwork for, you know, this banking
company, I work for thegovernment, or I work for this, or
this is my job.
Don't answer it like that orget that out of your mind that your
first answer is what yourcurrent job is.
(15:06):
You want to get that out ofyour mind.
What you want in your mind isthat you are a real estate investor.
So would anybody ask me beforeI quit my job what I do for a living?
I say, I'm a real estate investor.
And I say, oh wow, that's great.
What do you invest in?
I invest in rental propertiescash flow every single month.
So that cash flow every singlemonth helps me to continue to build
my business even bigger and bigger.
(15:27):
And if the person asks you soyou know, do you, is that your only
job?
You say, no, I have a side job.
You know, I have a side jobworking for, you know, this company
or that company.
So what happens is you have achange of mindset going from being
that person that has that job,like you're identified as the person
that with that job to now youare a real estate investor with a
(15:49):
side job.
Even though the bulk of yourmoney comes in from your side job,
it doesn't matter.
You are an investor.
You are what you tell other people.
And here's what happened to me.
As soon as I made that shiftin my mindset and started telling
everybody instead of kind ofbeing like hiding it because, oh,
I only have one or two orthree properties.
As soon as I made that shiftand started telling people, no, I
(16:11):
am an investor with a side job.
So many more things happenedto me where deals fell on my lap
or money fell in my lap.
Not necessarily money fell onmy lap, but I had people wanting
to give me money to help theminvest and be a part of my business.
So many great things happenedwhen I started telling myself I am
an investor.
So I want to encourage you, ifyou take anything away, you are a
(16:34):
real estate investor with aside job.
Stop telling people that youwork for this company or this is
your job over there.
No, you are a real estateinvestor and trust me, things are
going to change because thatgets into your mindset.
Now your mind has changedwhere now you are that investor,
you are what you want to be.
And that gets into our nextthought of how you can invest in
(16:55):
real estate with a full timejob is your mindset.
Your mindset is what's goingto actually get you to where you
create deals.
You get deals done, you getthings done where nobody else thought
they could happen.
So here's a great saying thatI really, really love.
There's two of them that kindof go hand in hand.
Number one, necessity is themother of invention.
(17:17):
So if you're telling yourself,I really want to quit my job, I'm
tired of working for thisboss, I'm tired of working this job.
And it's a necessity like youare making yourself quit your job.
Where you're going to find theway, and the second quote is, where
there is a will, there is a way.
You're going to find a waythrough that hurdle or through that
roadblock or jumping over that hurdle.
(17:38):
I kind of mix those twoanalogies together.
But you're going to jump overthat hurdle or you're going to get
through that roadblock.
Because with necessity beingthe mother invention, like it's necessary.
Like you know that eventuallyat some time your job can fire you
or you can get laid off orsomething bad can happen or God forbid
something happened to you, youcouldn't work because you were ill.
(17:59):
Well, with the necessity,there's a mother invention.
So you got to think in yourhead, in the future, I might not
have this job, and I want tochange my life now.
Let me start working towards it.
And where there's a will,where you're saying, in 10 years
I'm going to quit my job, orin five years I'm going to quit my
job, where there's a will, youwill make the way.
Because what's amazing is, asyou put your mind to it, as you start
(18:23):
thinking of how to get aroundthese roadblocks, you're going to
see these problems start todissolve in front of you because
you figure out ways around them.
That's the great thing aboutbeing an entrepreneur.
Like us, as real estateinvestors, we're entrepreneurs.
We see a problem in front of us.
Where most people, they'd seethat problem, they'd stop what we
do as entrepreneurs, as realestate investors, we see a problem.
(18:44):
We see it as an opportunity.
Opportunity to make money, tochange lives, to make everything
better.
So it's really hard, though,and trust me, I've been there, where
you don't have any propertiesright now, it's hard to see the light
at the end of the tunnel,because really, you're not even in
the tunnel yet.
You're not even going becauseyou don't have a property.
(19:05):
Maybe you have one or two orthree properties and you see a dim,
dim light at the end of thetunnel, you know, very, very small.
You'll be getting a littlelike maybe 200, $300 a month every
single month coming in fromone or two properties.
Well, that light gets biggerand bigger at the end of the tunnel.
The light gets bigger andbigger as you get more properties.
So your mindset needs to beshifting from where you have a job
(19:28):
and a side business to wherenow you are a real estate investor
and you buy that first property.
Once you buy that firstproperty, you start running down
that tunnel.
And each property you buyafter that, the light at the end
of the tunnel gets bigger andbigger and bigger.
Your emotions start to wellup, like, man, I just got to get
more properties.
This is fantastic.
My life is changing.
(19:49):
The more properties I getallows me to buy even more properties.
This is fantastic.
And this is what I want for you.
I want to see this change inyour mindset so that instead of giving
up, no, you're dedicated now.
Instead of, well, there's aroadblock and I'm stopping here.
No, you're going to bustthrough that roadblock because you're
persistent.
You're going to keep going.
(20:09):
And so with your mindset youwant to develop inside yourself a
dedication, a dedication togetting this job done, getting this
business built, buying thatnext property, hey, I don't have,
you might be thinking in yourhead, I don't have financing for
this property, this deal thatI found, well, that's a problem that
you're going to have to figure out.
You see an opportunity, howcan I get past this roadblock?
(20:31):
How can I answer this problem?
How can I get this opportunitychanged into something that's going
to be making me money?
And the next one is persistence.
Being persistent is one of theways like I am, I'm just stubborn.
I'll just keep going and keepgoing until I make it work.
That's just how I am.
And I know you're very, verysimilar because we're entrepreneurs,
we're going to get things donewhere most people won't.
(20:53):
Now also along with that, yourmindset, you need to change your
mind and you need to changeyour understanding of how to actually
invest.
When I first got started, Ihad no clue how to invest.
And really, really honestly,through the school of hard knocks,
I really learned exactly howto do it.
And I've made my business justa well running machine where it runs
without me.
So what I suggest, along withyour mindset, getting, being dedicated,
(21:16):
persistence and making sureyou have the will to get done, you
need to get education.
You need to get as mucheducation as possible so that you
can really get through thoseroadblocks without having to bang
your head against a roadblocktime and time again.
Because if you get withsomebody like me, like all my students,
I would say majority, if notevery single one of their problems
that they come up with, I'veeither gone through it or I figured
(21:38):
out a way around it.
I've been in your shoes.
And so all my students, whenthey come up and say, well, here's
this issue, I don't havefinancing here, or here's this deal,
but this seller wants this.
And I'll say, this is whatI've done.
This is how it worked for me.
And this is a way you could, Icould have done a little better.
This is a way that worked out perfectly.
You should go this route.
And so you need to haveeducation and also get coaching.
(21:59):
Get somebody that's going tohelp you get past this next hurdle,
that somebody has already beenthere, you know, like somebody that's
already through the tunnel,they're at the light, at their, you
know, beyond the tunnel,they're waving back at you, say,
come on, you can do it.
So get education, getknowledge, so that when those roadblocks
come, you already know how to,you know, bust through them or jump
over that hurdle.
Get education in your brain sothat you can get past that.
(22:22):
All right, now, here's a bigone for lots and lots of people.
Listen to my podcast.
It's scheduling in the time toget this done, Scheduling the time
to build your business.
Now, I know lots of people areworking, hopefully, you know, 30,
40, 50 hours, but some peopleare even working less or more.
You know, if you're onlyworking 20 hours a week because your
job won't allow you workanymore, well, you have lots of time
(22:43):
to develop your business.
But what if you're working 70,80 hours a week because it's just
that demanding?
Well, I've been there, Trust me.
I had a business where I wasworking for the government, which
I was working like, I don'tknow, it was like 10 hours a day.
On top of that, I had a retailestablishment that I was there basically
from morning to night, and inthe middle had that job.
So 14 hours a day, I was working.
But in the meantime, on mylunch break, when I was working my
(23:06):
job in the government, I'd goand do work for my real estate, trying
to find new properties, tryingto build my business.
And so every single wakingmoment, I saw the light in the end
of the tunnel.
I said, you know what?
I'm going to keep workingtowards that.
Every single waking momentthat I had that I wasn't putting
into a business or to myfamily, I focused on building my
business.
(23:26):
So I'm going to be honest andsay what I suggest.
This is what I tell all my students.
If you spend one hour a week,you know, building your business
or learning, that's not goingto be enough.
It's going to take you a very,very long time.
You know, time is precious.
That's the most expensivecommodity that you can spend is your
time.
Now, wouldn't you rather havequit your job sooner rather than
(23:48):
later?
You know, if you can quit yourjob in 20 years, then you're going
to work towards that.
But what if you can cut thatin half and you could quit your job
in 10 years because you spentmore time studying, more time building
your business?
Of course.
Wouldn't it be better quittingyour job 10 years earlier than you
normally would or 20 years earlier?
I quit when I was 37 years oldbecause I pushed myself.
I spent the time I studied.
I really tried to build mybusiness as fast as possible.
(24:11):
So this is what I'm tellingyou right now, I would if I were
you.
Spend five to six hours eachweek building your business.
I mean, when you think aboutit, five to six hours a week, that's
one lunch a week.
You know, if you're, if yourlunch at your work is an hour long
and, or your commute is anhour or something like that, but
it's, you know, five hours,you have seven days a week.
(24:33):
If you just took your lunch,you know, Monday through Friday,
one hour of your lunch andbuild your business that way, in
that amount of time, you'regoing to have a business very, very
quickly and run much faster.
Now if you're thinking somepeople may say that they don't have
five or six hours, well,here's the thing.
You need to make the time.
I don't know where you'regoing to get it.
I don't know how I got it.
(24:54):
I just did it.
I said, you know what, this isimportant to me.
I'm going to make the time.
It could be, you know, onceyou put the kids to bed, you spend
an hour or two hours studyingbuilding your business, whatever
it might be, you need to makethe time because honestly, this is
important, you know, it'simportant to change your life.
Now if I didn't spend thistime, I would not be quit, like I
(25:16):
would not have quit my job innine years.
When I was 37 years old, Iquit my job.
And every second that I spentbuilding my business before I quit
my job is so worth it.
Can't tell you how amazing itis to not have a mortgage, like literally
paying off your house becauseyou have enough money coming in and
not have a mortgage and alsonot have to worry about bills.
(25:37):
I mean, just imagine nothaving to have a mortgage, not have
to worry about bills becausemoney coming in, not have to work
because you have money comingin, you have an automatic business
coming and bringing that money in.
I can't stress enough at howamazing life is when you have all
these.
When money's taken care ofbecause you have a business spending
five to six hours a week, youneed to make the time to do that.
(26:00):
Next, in scheduling your time,you need to basically organize and
become efficient in your time management.
It could be where you alsomake it a routine where as you're
driving to work, let's say youhave a 30 minute commute driving
to work, you're listening tothe podcast, or you're getting education,
or you're calling up mortgagebrokers, or you're calling up property
(26:22):
managers.
That's the time that you'redoing it could be like I said on
your lunch break where yousay, okay, I clock out, let me grab
my sandwich, I'm walking, youknow, out of the, out of the office.
You don't want to do work inyour office.
Probably, you know, eat yoursandwich on the way out.
And then as soon as you sitdown in a park somewhere and on a
bench or however it's going tolook like for you, this is.
I was actually outside, youknow, underneath the tree.
And so I made it so that itwas a routine.
(26:44):
Every single hour that I gotfor lunch, I ran outside, started
building my business.
So you need to becomeefficient as well as organized.
Whatever you're doing.
Driving, you know, if you'redriving to the gym, spend time building
your business.
If you are outside mowing thelawn, spend time on your, like listening
to my podcast or listening tobooks or getting education and coaching.
(27:07):
You need to.
Every waking moment that isspent doing something else, I would
suggest develop yourself intothe business.
I literally stopped listeningto radio, like music for like five
years because there were somany podcasts, so many books, so
many things I needed to learn.
And so I took all of that timethat would normally gone to just,
(27:28):
you know, kind of vegging outand not doing anything that.
Or not being productive.
Instead of doing that, I mademyself very productive.
So try to become efficientwith your time.
Whenever you have an extrawaking moment that you're not devoting
to something else, like yourfamily, your job, or something else,
try to capture that time,become efficient, and use that to
(27:49):
build your business.
Also, in scheduling your andhaving time management, you need
to put systems in place andorganizations in place.
Now we're.
We live in such a great timewith so much technology that it is
so much easier to invest inreal estate.
And also with scheduling inthe time in your life, there's so
many ways to make your timeused more efficiently.
(28:10):
You know, like Evernote is agreat place.
You keep all your notes inside there.
Dropbox is another great thing.
Listen to podcasts, but I wantyou to look out for tools that you
can use.
And you're probably alreadyusing these, but see how you can
use these for your business tomake your time much more efficient.
You can schedule things betterand you want to make sure that your
time is utilized the best.
(28:31):
Now, this podcast, I'm notgoing to go.
It's way out of the scope ofthis podcast to teach you, you know,
the systems to organize and,you know, schedule a time.
I'm sure you can figure thatout pretty easily.
What I want you to do is nowutilize those things so that you
can get your business built,that you can continue to buy properties.
You can have other people workfor you.
This goes in the next step.
When scheduling your time andthinking about how much time is spent
(28:53):
on your business, think abouthow you can have other people work
for you, how you can pay otherpeople to do the work that you can
do, but you pay them.
I mean everything fromproperty managers, like I don't manage
my properties because myproperty managers do that.
You can have contractors,realtors, wholesalers, mortgage brokers.
(29:13):
And this goes into the nextstep and from scheduling your time
and taking care of your timewith investing while you have a full
time job.
What you want to do, a bighuge suggestion is to build a team
of others working for you.
You want to have other peopleworking for you day in and day out,
when you are sleeping, whenyou are working, when you're on vacation,
(29:37):
when you're playing with yourkids or going on a date.
You want to have other peoplelike property managers, realtors,
like I said, mortgage brokers,bankers, wholesalers, contractors,
handymen, plumbers, all thesesort of people.
Your job is to build a team ofpeople that are working for you.
The biggest thing that you cando in your business is hire others
(29:59):
to do all the work for you.
Now I have a podcast episodethat I want to give you.
Go back and listen to mypodcast episode number eight where
I talk about how you can buildan automated business by having a
team of people working around you.
To listen to episode go tomasterpassiveincome.com 008 that's
(30:19):
the eighth podcast episode.
You're going to learn how tobuild a team.
Who you want on your team, whoare the, the must have people that
you need on a team and thenalso the nice to have people, you
know, if you build it evenfurther than that.
And so go back and listen tothat episode or go to the podcast
show notes and I walk youthrough everything there.
So what you want is to build ateam of people around you.
The next item in how to investin real estate with a full time job
(30:42):
is money and finances.
I know that's one of thebiggest questions I get from everybody,
from all my students, from allmy podcast listeners, from everybody
who reads my books.
It's basically how do you get finances?
Like how do you take care ofthe money?
Obviously, you know, if I hada million dollars, I can go buy properties.
Well, everybody could.
You know, I didn't start witha silver spoon in my mouth.
(31:03):
I literally built my businessfrom scratch.
I saved money, bought aproperty, saved more money, bought
another property, refinancedthose properties to then buy more
properties.
So that's how I did it.
So with money and finances, ifI know that's.
Most people have that issue.
One, the first step isincrease the amount of income that
(31:24):
you make.
Now, if you have one job andyou think, well, I'm not making much
money here, I'm just overbroke because my boss isn't.
Isn't giving me more money,well, go and ask for a raise.
It doesn't hurt to ask her a raise.
Literally ask for a raise andsay, you know, I think, boss, I'm
doing a great job and theseare the reasons why I'm benefiting
you.
And there's.
Here's a tip.
This is a tip outside of thescope of this podcast, but when you're
(31:45):
asking for a raise, don't tellyour boss the reasons why you need
a raise.
Don't tell him that, becausethat doesn't affect him.
He doesn't care.
He or she doesn't care.
You know, might tickle theirears and like, oh, he needs this,
he needs that.
Don't tell them that.
Tell them the reasons why theyneed to give you a raise.
Show them how you benefittheir company or whoever you're working
(32:08):
for.
Show them why it's necessaryfor them to give you the raise.
So here's what I want to give you.
This is the tip.
You want to point out to yourboss why they need to give you this
raise, what benefit goes to them.
And when you do that, it'sgoing to make it seem like in their
mind, like, man, we have to.
Because this is going tobenefit our company so much.
(32:30):
And I'm not sure.
You're going to have to figureout whatever your job is and whatever
you're doing now, you're goingto have to figure that out.
But you have to figure it out well.
And when you express thereasons why you need a raise, it's
because it's going to benefitthat company.
Okay, so increase your income.
It could be asking for a raise.
It could be driving for Uber.
Like, if I, if all myproperties went to crap and I literally
(32:51):
could not make any money, I'mnot getting a job.
I'm going to drive for Uber or Lyft.
I'm going to figure out, youknow, Uber eats or I'm going to drive
for Amazon.
I'm going to do.
Driving is a lot of It.
But I'm going to do other things.
I'm going to start businesses.
I'm going to.
I'm going to go sell thingsdoor to door.
Like, I am not going to workfor somebody else because I had a
taste of what it's like to bemy own person.
(33:12):
So with increasing yourincome, go and get a side job, go
and get another, another.
You know, if you're actually adelivery driver, you're driving for
Uber or something like that,that's more time.
You could be learning.
There's more time that you'remaking money and learning.
So increase your income.
And increasing your income isso that you can save more money.
Now the next step afterincreasing your income is increase
(33:33):
your savings amount when youhave money.
It's so easy to buy properties.
Trust me, it's so easy.
It's super hard when you have,you know, to get seller financing
or find wholesalers.
I mean, that's much, muchharder to do.
Or if, you know, tax liens andall that sort of stuff.
But if you have money to spendon the cash, it's so much easier
and you get a big discount.
So you want to increase theamount of savings that you do every
(33:55):
single month.
Put away $100.
Like force yourself $100 eventhough you don't have it.
Force yourself to save $100every single month.
And then in six months,increase that to $125 or $150.
The more money you save everysingle month, the more properties
you will be able to buy andthe faster you will be able to buy
it.
Here's another thing withmoney and finances, cut expenses.
(34:16):
Now, I'm not saying this isgoing to be forever, but you want
to cut expenses so that youcan save more money to buy more properties.
Now, I cut so many things outof my expenses way back when I first
started.
Now I have them put it putback in, like, you know, buying coffee
or going out to dinner almostevery every other night.
Like, I cut those things outbecause I didn't have money.
But now that I do have money,I put them back in.
(34:38):
So you want to cut expenses.
And it could be you'redriving, you know, maybe $600 a month
more or payment on a car, nota mortgage payment, but auto loan
payment.
You know, give that car backor sell it.
Get out of that $600 a monthor even $400 a month.
You want to have a car thatgets you from point A to point B
and has as little money comingout of your pocket as possible.
(34:58):
Like I've told you many times,I still drive my 2007 Honda Odyssey,
even though I have plenty ofmoney, praise the Lord.
I have plenty of money that Icould go and buy a car, but I don't
because I don't need to.
It's not something.
It's like I cut it out of mysystem of, you know, having expensive
things.
And now that I have plenty ofmoney, it's like, ah, I'm fine without
it.
But who knows?
Maybe in the next few monthsI'm going to go buy my wife a car
(35:19):
just because, you know, I loveher and it's about time.
Maybe it's time to do that.
But you cut your expenses outnow, and then you could put them
back in later.
So this is a huge tip.
Cut your expenses so you cansave more money.
Now the next part is continueto save and continue to use that
money and invest that money sothat when you quit your job, you
have plenty of that innatesense of saving money in your system.
(35:43):
Continue to save until youactually quit your job.
Don't go and overspend on, youknow, something that's just going
to take money out of your pocket.
I specifically remember a timewhere we had an opportunity to go
to Disneyland with, you know,some friends or family members, and
we said, no, we're not goingto because we're saving money.
I thought, you know, that$3,000 that we're going to be spending
at Disneyland, that's a wholeproperty that I could buy.
I could use that money to buya property.
(36:04):
Now with money and financing,continue to save, but then also find
other investors who may wantto lend you money.
It could be your familymembers, it could be your dad, your
mom or acquaintance.
So with you telling everybodythat you're an investor, somehow
that whole, you know, just.
It's really neat how people innetworking, they start thinking,
hey, I don't want to do it,but I have money that I can invest
(36:27):
through you.
Would you want to do that?
When you get to the pointwhere I am, I have people asking
me all the time, like, I have money.
Can you invest it for me?
Or, you know, are you buyingan apartment complex?
Can I invest with you?
I'm like, so anyways, I have ahuge long list of all the people
that I could reach out to whenI buying a, you know, like a $10
million apartment complex andsay, hey, we got to raise 2 million.
You know, how much money youwant to put in?
(36:47):
Do you want to get a percentequity in the stake in the Property.
So as you become an investorand you get more and more into it,
more people want to give you money.
So be talking to other peopleabout how they can invest with you.
Now, another thing, whenyou're building your business, you're
talking to mortgage brokers inmoney and financing.
Keep talking to mortgagebrokers, seeing what they need from
you, like what your creditscore needs to be, how much money
(37:09):
you need to make, how, howthey, you know, what they need from
you in order to be able togive you a loan for a property.
Now that moves on to networking.
You need to network with other people.
Find a real estate investmentassociation group that meets together
in your area.
More than likely they will.
It's a reia.
Like if you just type in REIAin a search Internet search in your
(37:31):
area.
Like if you're in, you know,Oklahoma type, or you know, let's
say Tulsa, type in reia,Tulsa, Oklahoma, and you'll probably
find one in your area.
This helps you get aroundother investors that you're going
to be able to, you know, rubelbows with and sharpen each other's
ideas and maybe find dealsthere and find other investors to
work with.
Now, with Master Passiveincome and the course, the ultimate
(37:52):
real estate investing coursethat I have, it comes with a real
estate investing group that Ihave all my students a part of and
we're all working togethertrying to help each other out.
And I'm in there answeringpeople's questions as well.
And so we're working togetherto build businesses together.
Now, I want to give you, afterwe've gone through just all that,
I want to give you a step bystep process that I would take and
(38:13):
that I actually did take tobuy my first property.
Number one, I needed to findan area to invest in.
I needed to make sure I wasinvesting in a place that actually
had a good cash flow, a goodcash return.
And for me, I was inCalifornia when I started investing
and the first place I boughtwas in Ohio.
And it was because they hadgood returns.
I could buy a property forfairly inexpensive money or fairly
(38:35):
cheap, and it gave me a lot of money.
Passive income coming in.
So first, one, find an area to invest.
Number two, once you find thatarea to invest in, you see that there
are plenty of properties thatyou can buy and you continue to build
your business.
You want to build a team towork for you and work in your business.
So where you're going to goand start investing, make sure you
(38:55):
find the property managers,the realtors, the wholesalers, the
mortgage brokers, all thatsort of stuff.
You want to build up yourbusiness in that particular area
so that when you do buy aproperty, you find and you buy a
property, then you have yourteam immediately jump on that property
and start working for youwhere they're fixing up the property,
they're leasing it out,they're getting that tenant in there,
(39:17):
they're collecting rents andyou have that business already running.
So I never buy a propertyuntil I have the business already
running.
Next thing, after you buildthat business, you know, first one,
finding an area.
Number two, you're buildingthe team around you.
Next step number three is tofind a property really utilizing
wholesalers, like I said,utilizing realtors, Zillow.com, craigslist.com,
(39:40):
all these different places tofind a property.
Analyzing the numbers andmaking sure that you're going to
make passive income everysingle month.
And, and once you do that,once after you have all that everything
in place, you buy the propertybecause you have the mortgage broker,
you know, you have yoursavings and then you buy that property.
Then immediately have yourproperty manager fix up the property.
(40:00):
Fix up the property, get itready, start listing it for rent,
and then you also find a good tenant.
The next step would be reallyfind a good tenant.
I'm a strongly suggest you runa background check.
Never, never, never.
Now I'll say it again.
Never, never, never place atenant unless you run a background
check.
Now if you use Cozy like I do,it's a property management system
(40:21):
and go there, it's completelyfree to you.
It's fantastic.
MasterPassiveIncome.com Cozy CO Z Y.
If you go there, you will beable to utilize their service.
Put your listing of yourproperty for rent and anybody who
wants to rent your property,you can say, you know, make sure
they do a background check andthe tenant pays for the background
(40:42):
check.
You get the background checkand you can see if this tenant is
going to be a good tenant foryour property.
So use cozy.
Fantastic.
MasterPassiveIncome.com cozy.
Get yourself running goodbackground checks so you can find
a good tenant.
Here's the last step.
Super simple to say, butharder to do.
Do the process all over again.
Like literally do it all over again.
(41:03):
It's a rinse and repeat typeof business.
I now, because I have mybusinesses set up in certain areas,
it takes me literally one tothree hours from finding a property
to getting it rented andmaking money every single month because
all I need to do is find a property.
Actually people bringproperties to me.
So sometimes that doesn't eventake any of my time.
But I run the numbers, I makesure I get the financing set up or
(41:26):
my cash or however I'm goingto do it and buy the property.
So it literally takes me atmost three hours to find a new property
that makes me money everysingle month.
Now this has been hopefully agreat way to show you that you can
invest in real estate with afull time job, just like I did.
And now it was nine yearslater, I quit my job.
(41:48):
And that is it for today.
Go ahead and get my free realestate investing course, Texas word
rental, the 33777 R E N T A Lto 33777.
You can also join my realestate wealth Build builders group
coaching.
Get all my courses.
All right, guys, we'll see youin the next show.
See ya.
Welcome to the SuccessfullyUnemployed show.
I'm Dustin Heiner and I'm hereto help you learn how to quit that
job, that just over broke job,by investing in real estate so you
never ever have to work a job again.
And speaking of jobs, many ofus have a job and you can invest
in real estate with a fulltime job.
I'm going to show you how Idid it with other businesses and
(00:20):
four kids and everything elseand how you can do it as well.
All right, let's start the show.
Welcome to the Master PassiveIncome podcast where we talk about
investing in real estate witha special focus on making enough
(00:40):
money so you can quit your joband live the dream life.
And now here is your host,Dustin Heiner.
Hey, thank you so much forbeing with me on the show today.
I really appreciate you comingand listening every single week.
(01:01):
And today I.
Man, this is something thatreally hits home to me because when
I was, I don't know, 22, 23,something like that, I realized that
I hated working for other people.
Not just that I hated it, itwas just, it was horrible and just
joking, but I had a job and atthe same time I knew that I want
(01:22):
to do something else.
I wanted to be, I don't know,basically a real estate investor.
I want to be successfully unemployed.
I really enjoy that termbecause I found a way to provide
for myself and my familywithout working that dead end job.
And I was thinking about you acouple days ago and the fact that
you're here with me week inand week out, listening to the podcast,
(01:43):
trying to better yourself,trying to invest in real estate.
Now most people, what they dois they live the weekend, they work
that dead end job, they get inloads of debt buying things that
they don't need to impresspeople that don't even matter to
them.
And they keep going on thishamster wheel or the rat race of
life.
But that's not you and that'snot me either.
(02:04):
Now the rest of thepopulation, like 90% of the population,
live paycheck to paycheck andthey're stuck in that dead end job.
But what struck me about youis that you are different.
And honestly, different is good.
Different is very good.
If we're not one of thosesheep that actually just keep working
day in and day out, justworking an hour and then getting
(02:27):
paid for that hour when weknow there is a better way to do
it, where we work for passive income.
And honestly, people like us,we have three things in common.
Number one, our potential inlife is so Much more than we possibly
even know right now.
Number two, we know we musttake charge to reach our potential.
And number three, we will notlet anything stop us from achieving
(02:50):
and even exceeding our potential.
Now, most people would notgive up the fun things in life, you
know, partying on the weekendsand all that sort of stuff.
But giving up those fun thingsin life, I will tell you, those fun
things in life are so muchmore fun, more exciting, more everything
from firsthand experience,everything's much more fun.
(03:10):
When you are successfullyliving unemployed yourself, where
you don't have to worry aboutmaking your next rent or mortgage
payment, where you arefinancially free to do whatever you
want.
And you do get there byinvesting in yourself and making
a change.
Now, it would be sad if youlisten to this podcast over and over
and over again, like everysingle week, but you don't make a
(03:33):
change.
I want to see you make achange in your life because that's
what it took me.
To be completely financiallyindependent, to be successful and
employed is we have to make a change.
We're different, you and I.
We are different than most people.
And because of that, we willmake it so much further than most
anybody ever will.
And to be completely honest,if you're not willing to invest in
(03:55):
yourself, no one will investin you either.
Like, if you're looking forpeople to help you invest in your
properties with you, more thanlikely, if you're not investing in
yourself, they're not going toinvest with you as well.
And because you listen thispodcast week in and week out and
you probably need just alittle leg up, you need a little
more encouragement, you mightneed coaching or you might need some
(04:16):
sort of more type of trainingand all that sort of stuff.
And you are investing yourselfby listening to this podcast.
I want to invest in you as well.
So here's my investment.
I want to give you $700 tostart your real estate investing.
I mean, seriously, no joke, Iwant to give you $700 to start your
real estate investing.
Now, this $700 is myinvestment in you.
(04:37):
And I only ask two things of you.
Number one, that you commit toachieving your full potential by
not giving up on yourself.
Like, don't give up whenthings get hard.
When my first property managerstarted stealing from me, I literally
could have given up, but I did not.
I knew there was a way to do it.
I knew other plenty of otherpeople had done it in the past.
So I did not give up on myself.
I invested in myself and I didnot give up.
(04:59):
Number two, the Second thing Iwant you to promise me is that you
would help and serve others toachieve their potential.
Once you've already achievedyours and you're now successfully
unemployed, I want you to give back.
That's it.
And what I want to do for youis to coach you to become successful
real estate investors.
Now, they say that a pennysaved is a penny earned.
Well, because you're a part ofthe Master Passive Income podcast,
(05:21):
I literally want to give you$700 to join my Real Estate Wealth
Builder membership.
And what that's going to looklike is I literally charge now $799,
basically $800 to start andjoin my Real Estate Wealth Builders
membership, my group coaching,the courses and the student community,
all of our contacts, theproperty that we invest, all their
(05:44):
mortgage companies, like, wegive that all to you.
And I'm only going to chargeyou $99 to get started.
You know, I'm going to giveyou $700.
Most people are paying 700 or $800.
They're paying 799.
But for you, I'm going toinvest in you.
I'm going to give you $700 offof the membership, the joint fee,
it's only going to be $99.
But here's the thing.
(06:04):
You need to invest in yourself.
And I have hundreds ofstudents that are investing in themselves
at the higher price point.
But because you're a podcastlistener, I want to give you the
join fee, $700 off the jointfee for only $99.
And you might be thinkingabout the cost and oh, man, it's
still a hundred dollars.
Well, of course it's a hundred dollars.
(06:25):
You need to invest in yourself.
Remember, if you are not goingto invest in yourself, who will?
I know I won't.
Unless you invest in yourself.
And this is how it's going to be.
By Friday at Midnight, I amyou 700 promo code.
To get 700 off of my RealEstate Wealth Builders membership,
(06:47):
go in the description.
And if you go tomasterpassiveincome.com forward/wealthbuilders,
it'll be in the description.
And you use the promo code.
Start.
You just need to get started.
S T A R T.
I'll put that in the description.
I'll literally give you 700off what everybody else is already
paying because you are here.
It's another thing I can do tocelebrate the one millionth download
(07:08):
of my podcast because I wantto see you succeed in your real estate
investing.
So you're going to get all thecourses and the Coaching the group
coaching.
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and everything we want to fasttrack you to investing in real estate.
I want to see you within 90days have a property audit contract
where you're going to bemaking over $250 a month in passive
(07:30):
income.
So by Friday night atmidnight, the promo code is going
to go away.
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Because remember, you and I,we're different because we know we
(07:52):
have so much more potentialthan anybody could ever pay us.
And now today we're going tobe talking all about how you can
even invest in real estatewith that full time job.
Let's say you join the RealEstate Wealth Builders membership,
you start learning, get groupcoaching, you even get all of our
contacts and areas of thecountry to invest.
We literally give youeverything of what we've done so
(08:14):
you can make sure it fits youand your business.
And then from there you couldstill work your job and buy properties.
That's literally what I didover time because I had four kids
and my wife would not let mequit my job if I didn't have enough
money to provide for the family.
I kept buying property afterproperty and I kid you not, that
job was actually beneficial tobuying more properties because I
(08:36):
made more and more money.
Now I know just about everysingle person has a job, full time,
part time or whatever.
I even do have some studentsthat are retired that they are basically
living on Social Security andthey still want to grow their business,
they want to invest in realestate and here I am trying to help
them to get started eventhough they don't have a job.
(08:57):
Now I'm going to tell you thathaving a full time job is actually
fantastic in order to start areal estate business.
Even though you and I bothknow that the word job is almost
like a four letter word.
It's a job, it's horrible.
But the acronym of job, what Ilike to share with everybody is that
job is J O B.
(09:18):
You're just over broke.
I mean your boss is onlypaying you enough to keep you working
and not paying you too much.
That's going to be taking outof his or her pocket.
If you're working for thegovernment, they're only going to
pay you just enough to keepyou working and you're going to be
like, man, this job ishorrible, but I can't give up or
I can't quit because you know,I make enough money here.
(09:38):
Well, if you're about to quit,you know, your boss might come to
you and say, hey, you know, Ican't have you quit.
Let me give you a raise.
Well, why didn't you give me araise like a year ago when I needed
it, you know, and so your jobis just overbook.
But there are many greatthings about having a job, and I
utilized them as much as Icould as I built my business.
So even though job is a fourletter word and stands for just over
(10:01):
broke, there are some goodthings about having a job and how
having a job can actually helpyou build your business even faster.
You know, imagine if you wereon Social Security.
You know, you're older andyou're on Social Security.
You don't have the ability tomake more money or get a raise or
anything like that.
Well, it's harder to investbecause you have limited funds coming
(10:21):
in.
So here are some good thingsabout having a full time job.
So to give you a little encouragement.
So number one, you have fulltime job security.
You know, it's security in you.
Even though they can fire youat any time, you have the ability
to rely on your job to bringmoney in.
And on top of that, your moneythat is coming in could hopefully
be able to save to invest andbuy more properties.
(10:45):
You know, if you're on a fixedincome, then that fixed income, it's
hard to actually get moremoney to buy more properties.
You have to figure out someother, you know, unique and creative
ways to find and buy properties.
So you have a lot of securitywhen you have a job.
And that's one of the biggestreasons why people stay in jobs for
their entire lives until theyhave to retire because they're a
(11:05):
little old to keep working isbecause it's job security.
It's security that money'scoming in all the time.
Plus you have things likehealth insurance, a full time job.
Also it fuels your growth foryour investing business.
Like it fuels the ability tobuy more properties faster.
You know, if you get a raise,do not spend that money.
Like if you get an extra $100in your paycheck every single two
(11:28):
weeks, that's $200 extra a month.
Don't think, man, I could goget another car or, you know, get
a better car and spend that money.
No, don't think like that.
Think that that $200 is extraand every single month that you can
Put in a savings account, amoney market account or someplace
that you can touch that moneyin the future, pull it out and buy
an investment property.
So the job that you have, usethat to buy more properties.
(11:52):
Use that to fuel your growthof your business so much faster than
you could if you did not haveany extra money coming in.
Here's another great thing.
And I've used this over andover again.
Now you've heard me talk aboutthe b RRRR strategy, basically re
cycling your money over andover and over again, which I've done
many, many times.
It's so much easier to getloans when you have a job as opposed
(12:15):
to when you don't have a job.
You know, when you don't havea job, the bank is going to look
at you and say, how are yougoing to repay this loan?
You could tell them, well, I'mgoing to use this loan to buy this
property and that person's gotanother person.
I'm going to get somebody elseto live in that property.
They're going to give me moneyevery single month and I'm going
to give it to you.
They would say, well, that'sall well and good, but there's no
proven track record that'sactually going to work.
(12:35):
Now unless you've been aninvestor for quite a long time like
I have, they need somethinglike a W2 or your paycheck, two years
of employment to prove thatyou're going to continually be working
so that you can pay off themortgage that you're going to be
borrowing from them.
So before I quit my job, Iactually postponed quitting my job
for an extra six monthsbecause I was working on financing
(12:57):
for properties, pulling allthe money out of those all together
to buy more properties.
And I knew that if I did quitmy job in the middle of that refinance
process of pulling money out,they would say, hey, what happened?
Well, we're not going to giveyou the loan.
And I really wanted the loanbecause I needed to buy more properties
or I wanted to buy more properties.
All that money equity sittingin those properties that I'd already
(13:17):
owned, it was just sittingthere and I was not utilizing it.
So I put it off six moremonths to quit my job in order to
get get that financing done.
As soon as that financing wasdone, literally I'm going to say
like the next day or next twodays, I said, hey boss, I'm quitting
my job.
You know, I'll give you twoweeks notice.
And so I put in a two weeksnotice and then Quit my job right
after that.
It was a necessity in order toget my bank financing.
(13:39):
Now, now that I have quit myjob and I now what the banks do,
they just look at your taxreturns to make sure that you have
money coming in.
They just, all they reallywant to do is verify that you have
money that can repay whatthey're, what you're borrowing from
them.
So I use my tax returns.
So those are just a few thingsthat are great about having a job.
You know, you have constantmoney coming in.
(14:00):
Like I would suggest, don'tquit until you actually have enough
money to replace your income.
In order to invest in realestate with a full time job, this
is the biggest thing.
So if you take anything awayfrom this podcast, any big lesson
that can help you literallychange your life with rental properties,
this is the key that I'm goingto give you.
(14:22):
You do not have a sidebusiness, like a side real estate
or I invest on the side.
You do not have that.
What I'm going to tell you isit's your mindset switching from
you having a job and thenhaving a side business.
Like give you an example, ifsomebody stranger that you don't
know comes up to you and youstart talking to each other, you
(14:43):
know, like a Christmas partyor some, some sort of party, you
guys are saying, hey, so whatdo you do?
And the other guy tells youwhat they do and the person asks
you, what do you do?
You don't want to say, well, Iwork for, you know, this banking
company, I work for thegovernment, or I work for this, or
this is my job.
Don't answer it like that orget that out of your mind that your
first answer is what yourcurrent job is.
(15:06):
You want to get that out ofyour mind.
What you want in your mind isthat you are a real estate investor.
So would anybody ask me beforeI quit my job what I do for a living?
I say, I'm a real estate investor.
And I say, oh wow, that's great.
What do you invest in?
I invest in rental propertiescash flow every single month.
So that cash flow every singlemonth helps me to continue to build
my business even bigger and bigger.
(15:27):
And if the person asks you soyou know, do you, is that your only
job?
You say, no, I have a side job.
You know, I have a side jobworking for, you know, this company
or that company.
So what happens is you have achange of mindset going from being
that person that has that job,like you're identified as the person
that with that job to now youare a real estate investor with a
(15:49):
side job.
Even though the bulk of yourmoney comes in from your side job,
it doesn't matter.
You are an investor.
You are what you tell other people.
And here's what happened to me.
As soon as I made that shiftin my mindset and started telling
everybody instead of kind ofbeing like hiding it because, oh,
I only have one or two orthree properties.
As soon as I made that shiftand started telling people, no, I
(16:11):
am an investor with a side job.
So many more things happenedto me where deals fell on my lap
or money fell in my lap.
Not necessarily money fell onmy lap, but I had people wanting
to give me money to help theminvest and be a part of my business.
So many great things happenedwhen I started telling myself I am
an investor.
So I want to encourage you, ifyou take anything away, you are a
(16:34):
real estate investor with aside job.
Stop telling people that youwork for this company or this is
your job over there.
No, you are a real estateinvestor and trust me, things are
going to change because thatgets into your mindset.
Now your mind has changedwhere now you are that investor,
you are what you want to be.
And that gets into our nextthought of how you can invest in
(16:55):
real estate with a full timejob is your mindset.
Your mindset is what's goingto actually get you to where you
create deals.
You get deals done, you getthings done where nobody else thought
they could happen.
So here's a great saying thatI really, really love.
There's two of them that kindof go hand in hand.
Number one, necessity is themother of invention.
(17:17):
So if you're telling yourself,I really want to quit my job, I'm
tired of working for thisboss, I'm tired of working this job.
And it's a necessity like youare making yourself quit your job.
Where you're going to find theway, and the second quote is, where
there is a will, there is a way.
You're going to find a waythrough that hurdle or through that
roadblock or jumping over that hurdle.
(17:38):
I kind of mix those twoanalogies together.
But you're going to jump overthat hurdle or you're going to get
through that roadblock.
Because with necessity beingthe mother invention, like it's necessary.
Like you know that eventuallyat some time your job can fire you
or you can get laid off orsomething bad can happen or God forbid
something happened to you, youcouldn't work because you were ill.
(17:59):
Well, with the necessity,there's a mother invention.
So you got to think in yourhead, in the future, I might not
have this job, and I want tochange my life now.
Let me start working towards it.
And where there's a will,where you're saying, in 10 years
I'm going to quit my job, orin five years I'm going to quit my
job, where there's a will, youwill make the way.
Because what's amazing is, asyou put your mind to it, as you start
(18:23):
thinking of how to get aroundthese roadblocks, you're going to
see these problems start todissolve in front of you because
you figure out ways around them.
That's the great thing aboutbeing an entrepreneur.
Like us, as real estateinvestors, we're entrepreneurs.
We see a problem in front of us.
Where most people, they'd seethat problem, they'd stop what we
do as entrepreneurs, as realestate investors, we see a problem.
(18:44):
We see it as an opportunity.
Opportunity to make money, tochange lives, to make everything
better.
So it's really hard, though,and trust me, I've been there, where
you don't have any propertiesright now, it's hard to see the light
at the end of the tunnel,because really, you're not even in
the tunnel yet.
You're not even going becauseyou don't have a property.
(19:05):
Maybe you have one or two orthree properties and you see a dim,
dim light at the end of thetunnel, you know, very, very small.
You'll be getting a littlelike maybe 200, $300 a month every
single month coming in fromone or two properties.
Well, that light gets biggerand bigger at the end of the tunnel.
The light gets bigger andbigger as you get more properties.
So your mindset needs to beshifting from where you have a job
(19:28):
and a side business to wherenow you are a real estate investor
and you buy that first property.
Once you buy that firstproperty, you start running down
that tunnel.
And each property you buyafter that, the light at the end
of the tunnel gets bigger andbigger and bigger.
Your emotions start to wellup, like, man, I just got to get
more properties.
This is fantastic.
My life is changing.
(19:49):
The more properties I getallows me to buy even more properties.
This is fantastic.
And this is what I want for you.
I want to see this change inyour mindset so that instead of giving
up, no, you're dedicated now.
Instead of, well, there's aroadblock and I'm stopping here.
No, you're going to bustthrough that roadblock because you're
persistent.
You're going to keep going.
(20:09):
And so with your mindset youwant to develop inside yourself a
dedication, a dedication togetting this job done, getting this
business built, buying thatnext property, hey, I don't have,
you might be thinking in yourhead, I don't have financing for
this property, this deal thatI found, well, that's a problem that
you're going to have to figure out.
You see an opportunity, howcan I get past this roadblock?
(20:31):
How can I answer this problem?
How can I get this opportunitychanged into something that's going
to be making me money?
And the next one is persistence.
Being persistent is one of theways like I am, I'm just stubborn.
I'll just keep going and keepgoing until I make it work.
That's just how I am.
And I know you're very, verysimilar because we're entrepreneurs,
we're going to get things donewhere most people won't.
(20:53):
Now also along with that, yourmindset, you need to change your
mind and you need to changeyour understanding of how to actually
invest.
When I first got started, Ihad no clue how to invest.
And really, really honestly,through the school of hard knocks,
I really learned exactly howto do it.
And I've made my business justa well running machine where it runs
without me.
So what I suggest, along withyour mindset, getting, being dedicated,
(21:16):
persistence and making sureyou have the will to get done, you
need to get education.
You need to get as mucheducation as possible so that you
can really get through thoseroadblocks without having to bang
your head against a roadblocktime and time again.
Because if you get withsomebody like me, like all my students,
I would say majority, if notevery single one of their problems
that they come up with, I'veeither gone through it or I figured
(21:38):
out a way around it.
I've been in your shoes.
And so all my students, whenthey come up and say, well, here's
this issue, I don't havefinancing here, or here's this deal,
but this seller wants this.
And I'll say, this is whatI've done.
This is how it worked for me.
And this is a way you could, Icould have done a little better.
This is a way that worked out perfectly.
You should go this route.
And so you need to haveeducation and also get coaching.
(21:59):
Get somebody that's going tohelp you get past this next hurdle,
that somebody has already beenthere, you know, like somebody that's
already through the tunnel,they're at the light, at their, you
know, beyond the tunnel,they're waving back at you, say,
come on, you can do it.
So get education, getknowledge, so that when those roadblocks
come, you already know how to,you know, bust through them or jump
over that hurdle.
Get education in your brain sothat you can get past that.
(22:22):
All right, now, here's a bigone for lots and lots of people.
Listen to my podcast.
It's scheduling in the time toget this done, Scheduling the time
to build your business.
Now, I know lots of people areworking, hopefully, you know, 30,
40, 50 hours, but some peopleare even working less or more.
You know, if you're onlyworking 20 hours a week because your
job won't allow you workanymore, well, you have lots of time
(22:43):
to develop your business.
But what if you're working 70,80 hours a week because it's just
that demanding?
Well, I've been there, Trust me.
I had a business where I wasworking for the government, which
I was working like, I don'tknow, it was like 10 hours a day.
On top of that, I had a retailestablishment that I was there basically
from morning to night, and inthe middle had that job.
So 14 hours a day, I was working.
But in the meantime, on mylunch break, when I was working my
(23:06):
job in the government, I'd goand do work for my real estate, trying
to find new properties, tryingto build my business.
And so every single wakingmoment, I saw the light in the end
of the tunnel.
I said, you know what?
I'm going to keep workingtowards that.
Every single waking momentthat I had that I wasn't putting
into a business or to myfamily, I focused on building my
business.
(23:26):
So I'm going to be honest andsay what I suggest.
This is what I tell all my students.
If you spend one hour a week,you know, building your business
or learning, that's not goingto be enough.
It's going to take you a very,very long time.
You know, time is precious.
That's the most expensivecommodity that you can spend is your
time.
Now, wouldn't you rather havequit your job sooner rather than
(23:48):
later?
You know, if you can quit yourjob in 20 years, then you're going
to work towards that.
But what if you can cut thatin half and you could quit your job
in 10 years because you spentmore time studying, more time building
your business?
Of course.
Wouldn't it be better quittingyour job 10 years earlier than you
normally would or 20 years earlier?
I quit when I was 37 years oldbecause I pushed myself.
I spent the time I studied.
I really tried to build mybusiness as fast as possible.
(24:11):
So this is what I'm tellingyou right now, I would if I were
you.
Spend five to six hours eachweek building your business.
I mean, when you think aboutit, five to six hours a week, that's
one lunch a week.
You know, if you're, if yourlunch at your work is an hour long
and, or your commute is anhour or something like that, but
it's, you know, five hours,you have seven days a week.
(24:33):
If you just took your lunch,you know, Monday through Friday,
one hour of your lunch andbuild your business that way, in
that amount of time, you'regoing to have a business very, very
quickly and run much faster.
Now if you're thinking somepeople may say that they don't have
five or six hours, well,here's the thing.
You need to make the time.
I don't know where you'regoing to get it.
I don't know how I got it.
(24:54):
I just did it.
I said, you know what, this isimportant to me.
I'm going to make the time.
It could be, you know, onceyou put the kids to bed, you spend
an hour or two hours studyingbuilding your business, whatever
it might be, you need to makethe time because honestly, this is
important, you know, it'simportant to change your life.
Now if I didn't spend thistime, I would not be quit, like I
(25:16):
would not have quit my job innine years.
When I was 37 years old, Iquit my job.
And every second that I spentbuilding my business before I quit
my job is so worth it.
Can't tell you how amazing itis to not have a mortgage, like literally
paying off your house becauseyou have enough money coming in and
not have a mortgage and alsonot have to worry about bills.
(25:37):
I mean, just imagine nothaving to have a mortgage, not have
to worry about bills becausemoney coming in, not have to work
because you have money comingin, you have an automatic business
coming and bringing that money in.
I can't stress enough at howamazing life is when you have all
these.
When money's taken care ofbecause you have a business spending
five to six hours a week, youneed to make the time to do that.
(26:00):
Next, in scheduling your time,you need to basically organize and
become efficient in your time management.
It could be where you alsomake it a routine where as you're
driving to work, let's say youhave a 30 minute commute driving
to work, you're listening tothe podcast, or you're getting education,
or you're calling up mortgagebrokers, or you're calling up property
(26:22):
managers.
That's the time that you'redoing it could be like I said on
your lunch break where yousay, okay, I clock out, let me grab
my sandwich, I'm walking, youknow, out of the, out of the office.
You don't want to do work inyour office.
Probably, you know, eat yoursandwich on the way out.
And then as soon as you sitdown in a park somewhere and on a
bench or however it's going tolook like for you, this is.
I was actually outside, youknow, underneath the tree.
And so I made it so that itwas a routine.
(26:44):
Every single hour that I gotfor lunch, I ran outside, started
building my business.
So you need to becomeefficient as well as organized.
Whatever you're doing.
Driving, you know, if you'redriving to the gym, spend time building
your business.
If you are outside mowing thelawn, spend time on your, like listening
to my podcast or listening tobooks or getting education and coaching.
(27:07):
You need to.
Every waking moment that isspent doing something else, I would
suggest develop yourself intothe business.
I literally stopped listeningto radio, like music for like five
years because there were somany podcasts, so many books, so
many things I needed to learn.
And so I took all of that timethat would normally gone to just,
(27:28):
you know, kind of vegging outand not doing anything that.
Or not being productive.
Instead of doing that, I mademyself very productive.
So try to become efficientwith your time.
Whenever you have an extrawaking moment that you're not devoting
to something else, like yourfamily, your job, or something else,
try to capture that time,become efficient, and use that to
(27:49):
build your business.
Also, in scheduling your andhaving time management, you need
to put systems in place andorganizations in place.
Now we're.
We live in such a great timewith so much technology that it is
so much easier to invest inreal estate.
And also with scheduling inthe time in your life, there's so
many ways to make your timeused more efficiently.
(28:10):
You know, like Evernote is agreat place.
You keep all your notes inside there.
Dropbox is another great thing.
Listen to podcasts, but I wantyou to look out for tools that you
can use.
And you're probably alreadyusing these, but see how you can
use these for your business tomake your time much more efficient.
You can schedule things betterand you want to make sure that your
time is utilized the best.
(28:31):
Now, this podcast, I'm notgoing to go.
It's way out of the scope ofthis podcast to teach you, you know,
the systems to organize and,you know, schedule a time.
I'm sure you can figure thatout pretty easily.
What I want you to do is nowutilize those things so that you
can get your business built,that you can continue to buy properties.
You can have other people workfor you.
This goes in the next step.
When scheduling your time andthinking about how much time is spent
(28:53):
on your business, think abouthow you can have other people work
for you, how you can pay otherpeople to do the work that you can
do, but you pay them.
I mean everything fromproperty managers, like I don't manage
my properties because myproperty managers do that.
You can have contractors,realtors, wholesalers, mortgage brokers.
(29:13):
And this goes into the nextstep and from scheduling your time
and taking care of your timewith investing while you have a full
time job.
What you want to do, a bighuge suggestion is to build a team
of others working for you.
You want to have other peopleworking for you day in and day out,
when you are sleeping, whenyou are working, when you're on vacation,
(29:37):
when you're playing with yourkids or going on a date.
You want to have other peoplelike property managers, realtors,
like I said, mortgage brokers,bankers, wholesalers, contractors,
handymen, plumbers, all thesesort of people.
Your job is to build a team ofpeople that are working for you.
The biggest thing that you cando in your business is hire others
(29:59):
to do all the work for you.
Now I have a podcast episodethat I want to give you.
Go back and listen to mypodcast episode number eight where
I talk about how you can buildan automated business by having a
team of people working around you.
To listen to episode go tomasterpassiveincome.com 008 that's
(30:19):
the eighth podcast episode.
You're going to learn how tobuild a team.
Who you want on your team, whoare the, the must have people that
you need on a team and thenalso the nice to have people, you
know, if you build it evenfurther than that.
And so go back and listen tothat episode or go to the podcast
show notes and I walk youthrough everything there.
So what you want is to build ateam of people around you.
The next item in how to investin real estate with a full time job
(30:42):
is money and finances.
I know that's one of thebiggest questions I get from everybody,
from all my students, from allmy podcast listeners, from everybody
who reads my books.
It's basically how do you get finances?
Like how do you take care ofthe money?
Obviously, you know, if I hada million dollars, I can go buy properties.
Well, everybody could.
You know, I didn't start witha silver spoon in my mouth.
(31:03):
I literally built my businessfrom scratch.
I saved money, bought aproperty, saved more money, bought
another property, refinancedthose properties to then buy more
properties.
So that's how I did it.
So with money and finances, ifI know that's.
Most people have that issue.
One, the first step isincrease the amount of income that
(31:24):
you make.
Now, if you have one job andyou think, well, I'm not making much
money here, I'm just overbroke because my boss isn't.
Isn't giving me more money,well, go and ask for a raise.
It doesn't hurt to ask her a raise.
Literally ask for a raise andsay, you know, I think, boss, I'm
doing a great job and theseare the reasons why I'm benefiting
you.
And there's.
Here's a tip.
This is a tip outside of thescope of this podcast, but when you're
(31:45):
asking for a raise, don't tellyour boss the reasons why you need
a raise.
Don't tell him that, becausethat doesn't affect him.
He doesn't care.
He or she doesn't care.
You know, might tickle theirears and like, oh, he needs this,
he needs that.
Don't tell them that.
Tell them the reasons why theyneed to give you a raise.
Show them how you benefittheir company or whoever you're working
(32:08):
for.
Show them why it's necessaryfor them to give you the raise.
So here's what I want to give you.
This is the tip.
You want to point out to yourboss why they need to give you this
raise, what benefit goes to them.
And when you do that, it'sgoing to make it seem like in their
mind, like, man, we have to.
Because this is going tobenefit our company so much.
(32:30):
And I'm not sure.
You're going to have to figureout whatever your job is and whatever
you're doing now, you're goingto have to figure that out.
But you have to figure it out well.
And when you express thereasons why you need a raise, it's
because it's going to benefitthat company.
Okay, so increase your income.
It could be asking for a raise.
It could be driving for Uber.
Like, if I, if all myproperties went to crap and I literally
(32:51):
could not make any money, I'mnot getting a job.
I'm going to drive for Uber or Lyft.
I'm going to figure out, youknow, Uber eats or I'm going to drive
for Amazon.
I'm going to do.
Driving is a lot of It.
But I'm going to do other things.
I'm going to start businesses.
I'm going to.
I'm going to go sell thingsdoor to door.
Like, I am not going to workfor somebody else because I had a
taste of what it's like to bemy own person.
(33:12):
So with increasing yourincome, go and get a side job, go
and get another, another.
You know, if you're actually adelivery driver, you're driving for
Uber or something like that,that's more time.
You could be learning.
There's more time that you'remaking money and learning.
So increase your income.
And increasing your income isso that you can save more money.
Now the next step afterincreasing your income is increase
(33:33):
your savings amount when youhave money.
It's so easy to buy properties.
Trust me, it's so easy.
It's super hard when you have,you know, to get seller financing
or find wholesalers.
I mean, that's much, muchharder to do.
Or if, you know, tax liens andall that sort of stuff.
But if you have money to spendon the cash, it's so much easier
and you get a big discount.
So you want to increase theamount of savings that you do every
(33:55):
single month.
Put away $100.
Like force yourself $100 eventhough you don't have it.
Force yourself to save $100every single month.
And then in six months,increase that to $125 or $150.
The more money you save everysingle month, the more properties
you will be able to buy andthe faster you will be able to buy
it.
Here's another thing withmoney and finances, cut expenses.
(34:16):
Now, I'm not saying this isgoing to be forever, but you want
to cut expenses so that youcan save more money to buy more properties.
Now, I cut so many things outof my expenses way back when I first
started.
Now I have them put it putback in, like, you know, buying coffee
or going out to dinner almostevery every other night.
Like, I cut those things outbecause I didn't have money.
But now that I do have money,I put them back in.
(34:38):
So you want to cut expenses.
And it could be you'redriving, you know, maybe $600 a month
more or payment on a car, nota mortgage payment, but auto loan
payment.
You know, give that car backor sell it.
Get out of that $600 a monthor even $400 a month.
You want to have a car thatgets you from point A to point B
and has as little money comingout of your pocket as possible.
(34:58):
Like I've told you many times,I still drive my 2007 Honda Odyssey,
even though I have plenty ofmoney, praise the Lord.
I have plenty of money that Icould go and buy a car, but I don't
because I don't need to.
It's not something.
It's like I cut it out of mysystem of, you know, having expensive
things.
And now that I have plenty ofmoney, it's like, ah, I'm fine without
it.
But who knows?
Maybe in the next few monthsI'm going to go buy my wife a car
(35:19):
just because, you know, I loveher and it's about time.
Maybe it's time to do that.
But you cut your expenses outnow, and then you could put them
back in later.
So this is a huge tip.
Cut your expenses so you cansave more money.
Now the next part is continueto save and continue to use that
money and invest that money sothat when you quit your job, you
have plenty of that innatesense of saving money in your system.
(35:43):
Continue to save until youactually quit your job.
Don't go and overspend on, youknow, something that's just going
to take money out of your pocket.
I specifically remember a timewhere we had an opportunity to go
to Disneyland with, you know,some friends or family members, and
we said, no, we're not goingto because we're saving money.
I thought, you know, that$3,000 that we're going to be spending
at Disneyland, that's a wholeproperty that I could buy.
I could use that money to buya property.
(36:04):
Now with money and financing,continue to save, but then also find
other investors who may wantto lend you money.
It could be your familymembers, it could be your dad, your
mom or acquaintance.
So with you telling everybodythat you're an investor, somehow
that whole, you know, just.
It's really neat how people innetworking, they start thinking,
hey, I don't want to do it,but I have money that I can invest
(36:27):
through you.
Would you want to do that?
When you get to the pointwhere I am, I have people asking
me all the time, like, I have money.
Can you invest it for me?
Or, you know, are you buyingan apartment complex?
Can I invest with you?
I'm like, so anyways, I have ahuge long list of all the people
that I could reach out to whenI buying a, you know, like a $10
million apartment complex andsay, hey, we got to raise 2 million.
You know, how much money youwant to put in?
(36:47):
Do you want to get a percentequity in the stake in the Property.
So as you become an investorand you get more and more into it,
more people want to give you money.
So be talking to other peopleabout how they can invest with you.
Now, another thing, whenyou're building your business, you're
talking to mortgage brokers inmoney and financing.
Keep talking to mortgagebrokers, seeing what they need from
you, like what your creditscore needs to be, how much money
(37:09):
you need to make, how, howthey, you know, what they need from
you in order to be able togive you a loan for a property.
Now that moves on to networking.
You need to network with other people.
Find a real estate investmentassociation group that meets together
in your area.
More than likely they will.
It's a reia.
Like if you just type in REIAin a search Internet search in your
(37:31):
area.
Like if you're in, you know,Oklahoma type, or you know, let's
say Tulsa, type in reia,Tulsa, Oklahoma, and you'll probably
find one in your area.
This helps you get aroundother investors that you're going
to be able to, you know, rubelbows with and sharpen each other's
ideas and maybe find dealsthere and find other investors to
work with.
Now, with Master Passiveincome and the course, the ultimate
(37:52):
real estate investing coursethat I have, it comes with a real
estate investing group that Ihave all my students a part of and
we're all working togethertrying to help each other out.
And I'm in there answeringpeople's questions as well.
And so we're working togetherto build businesses together.
Now, I want to give you, afterwe've gone through just all that,
I want to give you a step bystep process that I would take and
(38:13):
that I actually did take tobuy my first property.
Number one, I needed to findan area to invest in.
I needed to make sure I wasinvesting in a place that actually
had a good cash flow, a goodcash return.
And for me, I was inCalifornia when I started investing
and the first place I boughtwas in Ohio.
And it was because they hadgood returns.
I could buy a property forfairly inexpensive money or fairly
(38:35):
cheap, and it gave me a lot of money.
Passive income coming in.
So first, one, find an area to invest.
Number two, once you find thatarea to invest in, you see that there
are plenty of properties thatyou can buy and you continue to build
your business.
You want to build a team towork for you and work in your business.
So where you're going to goand start investing, make sure you
(38:55):
find the property managers,the realtors, the wholesalers, the
mortgage brokers, all thatsort of stuff.
You want to build up yourbusiness in that particular area
so that when you do buy aproperty, you find and you buy a
property, then you have yourteam immediately jump on that property
and start working for youwhere they're fixing up the property,
they're leasing it out,they're getting that tenant in there,
(39:17):
they're collecting rents andyou have that business already running.
So I never buy a propertyuntil I have the business already
running.
Next thing, after you buildthat business, you know, first one,
finding an area.
Number two, you're buildingthe team around you.
Next step number three is tofind a property really utilizing
wholesalers, like I said,utilizing realtors, Zillow.com, craigslist.com,
(39:40):
all these different places tofind a property.
Analyzing the numbers andmaking sure that you're going to
make passive income everysingle month.
And, and once you do that,once after you have all that everything
in place, you buy the propertybecause you have the mortgage broker,
you know, you have yoursavings and then you buy that property.
Then immediately have yourproperty manager fix up the property.
(40:00):
Fix up the property, get itready, start listing it for rent,
and then you also find a good tenant.
The next step would be reallyfind a good tenant.
I'm a strongly suggest you runa background check.
Never, never, never.
Now I'll say it again.
Never, never, never place atenant unless you run a background
check.
Now if you use Cozy like I do,it's a property management system
(40:21):
and go there, it's completelyfree to you.
It's fantastic.
MasterPassiveIncome.com Cozy CO Z Y.
If you go there, you will beable to utilize their service.
Put your listing of yourproperty for rent and anybody who
wants to rent your property,you can say, you know, make sure
they do a background check andthe tenant pays for the background
(40:42):
check.
You get the background checkand you can see if this tenant is
going to be a good tenant foryour property.
So use cozy.
Fantastic.
MasterPassiveIncome.com cozy.
Get yourself running goodbackground checks so you can find
a good tenant.
Here's the last step.
Super simple to say, butharder to do.
Do the process all over again.
Like literally do it all over again.
(41:03):
It's a rinse and repeat typeof business.
I now, because I have mybusinesses set up in certain areas,
it takes me literally one tothree hours from finding a property
to getting it rented andmaking money every single month because
all I need to do is find a property.
Actually people bringproperties to me.
So sometimes that doesn't eventake any of my time.
But I run the numbers, I makesure I get the financing set up or
(41:26):
my cash or however I'm goingto do it and buy the property.
So it literally takes me atmost three hours to find a new property
that makes me money everysingle month.
Now this has been hopefully agreat way to show you that you can
invest in real estate with afull time job, just like I did.
And now it was nine yearslater, I quit my job.
(41:48):
And that is it for today.
Go ahead and get my free realestate investing course, Texas word
rental, the 33777 R E N T A Lto 33777.
You can also join my realestate wealth Build builders group
coaching.
Get all my courses.
All right, guys, we'll see youin the next show.
See ya.
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