How to Wholesale Part 1 (Elephant Challenge)

all right everybody Welcome to the elephant challenge we are going to start the elephant Challenge in a very very cool way if you guys remember last year in summer of last year we broke a world record for doing the most offers in one day it was a world record we had something around 3 000 people in that challenge all simultaneously and that was so cool I actually met a few people yesterday in Minneapolis they said Pace I was in your first elephant challenge ever and it changed my life thank you so much I met so many amazing people I ended up doing a bunch of deals and that was our first elephant challenge ever I had somebody a couple days ago say they have now done 115 deals all because of the elephant challenge over the last 12 months so there are people that are doing 10 deals a month because of this challenge why do I do this I want you to write this down because there's people that on day three of the challenge what they will do is they'll come in and go man aren't you selling anything are you doing something this is crazy if you guys remember the first elephant challenge we ever did a year ago on day number three there was a lady that raised her hand she came in and she says when are you gonna pitch us something and I go what do you mean and she says aren't you going to sell something else I go no this is not why we're we're doing the challenge we're here to help people and change people's lives and so she was blown away by that we continued to do that for an entire year we changed the topic a couple of times we did multi-family we did um a bunch of different topics and what I want to do this year because of how much we've changed and affected so many people's lives in a positive way over the last 12 months I want to actually start the elephant challenge all over I want to start from the basics I want to start from essentially with one goal in mind the goal in mind would be how do I teach people in our free Facebook group because this is for the free Facebook group creative Finance with pace morby that Facebook group how can I teach you guys and give you an education over the course of a year okay over the course of a year how to wholesale and find deals and comp properties and work with each other what if that was the only goal the only goal was to teach you those things and as you run into those leads as you run into those those opportunities the people from my my communities like sub 2 and Gator and top tier TC can come in and help you guys out with the creative Finance Deals they can help you out with the paperwork that you don't have they the Gators can come in and fund your transactions the transaction coordinators can run your transactions what if we created that now I've paid from wholesale education has anybody in here ever paid for wholesale education if you have type in the side chat how much you paid for it okay a lot of yeses tons of yeses 7 500 10 000 a lot somebody said 60 000 6500 10 000 7K 12K all right I get the comment all the time somebody said they paid twenty nine thousand dollars twenty thousand twenty five thousand okay I get this comment all the time that my free education is by far better than anybody else's paid education and so that is what we're going to do in this elephant challenge over the next 12 months I am going to give you what I believe is going to be a fifty thousand dollar education for free I'm going to teach you guys how to comp I'm going to teach you guys how to underwrite and look at opportunities I'm going to teach you guys about cash transactions and what I'm going to do is I'm going to make sure you have access to my trained communities on Creative finance and funding deals Gator and sub 2. I'm going to make sure you have access to real estate agents who understand these topics so that you guys can have friends and people to hold on to I'm going to make sure that the people that know how to do the paperwork are accessible to you as well and what we're going to do is this is going to be a long road I'm going to teach you what wholesale is so some of you guys that are in here are already doing a lot of deals in the side chat do me a favor how many people in here are in my leadership how many people have been in one of my communities or Collective Community for over six months and have helped other people do deals there's Angie milanazzo one of the leaders she's unbelievable so you guys see 100 people in the side chat saying I'm one of the leaders okay Caroline says I'm I'm TC gator okay Astro leader Sarah Miller says she's an astral leader well we are going to teach all of you guys in the free Facebook group creative Finance with Pace morby we are going to teach you guys how to find Opportunities generate opportunities and then plug into and work with people who are trained and five steps ten steps 20 steps ahead of you we're going to teach you that and we're going to give you guys individual merit badges okay individual merit badges what is a merit badge merit badge is a micro skill that you need to acquire in order to be successful at something right a micro skill would be how do I pick a zip code how do I pick a market how do I choose what to look at how do I go through those things and we're going to start very basic today we're even going to talk about what is wholesale we're going to talk about why cash over creative we're going to talk about some very basic stuff and the point in the goal here today is to just give you guys a foundational level of understanding how many people appreciate that we're going to start from the very very ground floor give me a yes or a thank you or something in the side chat just want to make sure people understand this now am I here to teach you guys creative Finance in the elephant challenge the answer is no I'm not I teach creative Finance to my sub 2 Community I teach raising capital and corporate structure and all sorts of amazing things to my communities but today and during the elephant challenge it's all about just getting your feet wet it's getting you on the same path as the other elephants and you guys have probably seen this right you've seen elephants walking in line Mama elephants in the front all the way down to the baby elephant that's in the back holding on to the tail of the elephant in front of them in my mind that is the elephant challenge it's the people like myself and my community sub to Gator top tier TC that are leading the industry they are we're leading the industry I I get this frequently title companies escrow officers all sorts of people call me and say it's amazing how many deals your community is doing I'm astonished I'd love to get you on a podcast or you tell me how you guys are doing this and they basically are the leaders of the elephant pack right they're out there leading down leading the path because somebody helped lead them at one point whether it was me or somebody else in our community help them get a deal and my leaders from sub 2 my leaders from Gator my leaders from Top tier TC are here to help you guys they're here to help you plug in and make sure that when we do start submitting offers and we do start understanding how to look up properties that you guys have somebody to plug into the most important thing you'll ever have is a group of people that you can rely on okay so everybody in here do me a favor just one time we got a thousand people in the zoom YouTube I don't know how many people we have on YouTube but before we get started take a minute and just put your name in the side chat one time okay put your Instagram name put your city you're from put what you do all of those things put it in the side chat let's just get rid of that today let's just get rid of it right you've got people coming here I'm at this I'm a that I'm a this I'm a that here's the link to my thing guys we want to make sure we purge and get rid of all as fast as possible now the chat is going very fast thousands of people are commenting I get that how do I save that well you can save that by going to the three little dots over there in the side chat and you can save the side chat so you can have everybody's information once the elephant challenge is over pretty cool we will also if you guys just put your name in there put your name where you're from where you're stuck give me a little story about you Purge it get rid of it get rid of it all right now as fast as you possibly can because I want to get to training I want to get to work I don't want to have the side chat blowing up with who you are and where you're from and what your favorite color is the whole entire time I'm on here today for three hours do we all agree that that is the number one rule of the elephant challenge that's not spam the side chat okay so let's spam the side chat right now let's Purge let's get rid of it everything I want somebody to know about me my favorite color what what do I like ham and pineapple on my pizza am I one of those weird people just so you know I am um what kind of car you drive how many siblings you have I don't care what you put in the side chat but let's just get rid of it right now now do I have to remind people my name every five minutes in the elephant challenge or can I just save the side chat at any point and they can save the side chat and go through and actually connect with me we already know the answer I don't need to put my name in there more than one time because the side chat will help you make sure that everybody knows who you are can I get a yes for this can I get it I agree a yes thank you whatever it is you want to say in the side chat because what will happen is at some point I have Caroline and I have Carly behind the scene right now at some point in the elephant challenge we have 1100 people in here right now you guys will come in and you'll start peppering your information in the side chat and I want to let you know right now that we will not be okay with that in a couple of minutes so if you got it in you and you want to get it out now is the time now is the time to let everybody know who you are okay so that we can get rid of that and we can get right to the training and helping people out okay actually I'm gonna I'm gonna take two minutes I'm gonna let you guys just just do it type it favorite color what shoes you're wearing you're not wearing shoes tell everybody everything about you that you need them to know there's always one guy that's in here it's like I wants to give his whole story and he just fills up the whole chat hey guy Now's the Time for you to do that now is the time for you to do that I'm giving you permission do it let everybody know you're a sub 2 student let everybody know you're a gator let everyone know your tier a top tier TC let everybody know you're an astro glider let everybody know let everybody know what shirt you're wearing let them all know okay all right so the point of the elephant challenge is for the leaders in my Collective Community to help the people that are in my free groups I have a free Facebook group the Facebook group is called creative Finance with pacemorby now why do I call it creative Finance with Pace morby not Creative Real Estate with pacemommy it's creative Finance with Pace morby because we are teaching our sub 2 Community how to not only buy properties dirt multi-family RV parks land developments all of those things with creative Finance no money down strategies Etc we're also teaching them how to do that with cars Vehicles RVs airplanes trailers all sorts of things turn that into a money making Endeavor we are also teaching them how to acquire businesses with creative Finance and that is something that we just unveiled and un rolled out to the sub 2 Community about a couple of weeks ago what's going to happen is you're going to have a lot of my sub 2 Community wanting to buy deals from you and so the purpose of the free Facebook group okay the purpose of the free Facebook group is to make sure that the people in the free Facebook group at least know how to find an opportunity at least know how to evaluate whether it is an opportunity they might not know the paperwork they might not know what to do with it they might not know everything about the deal but they know it's a good deal the elephant Challenge and the free Facebook group is to teach you guys those things so that you can go forward and do deals with my community okay now we've been doing the elephant challenge for over a year Xavier Borough says the same thing that a lot of people are going to say he says I don't know how to save the chat guys we will save the chat for you today and we will make sure that Carly will give it to you in the circle app or in the free Facebook group are we all in agreement that that's where we can get that today can we all just give me a yes give me 1100 yeses if you if you if you're grateful that we've done this and we're putting this together give me give me 1100 yeses we all know we don't need to know everything today because usually Carly or somebody on my team right there's payroll being spent on you guys right now to give you guys this free value they're going to help you out with the side chat they're going to help you out with those things okay so for those of you guys that you've given your name you've told people your favorite color what shoes you're wearing what car you drove today what what was your big frustration today whatever it was have we all gotten it out of our system today that we can move forward and actually just start learning today can we do that today okay cool now again what is the goal of the elephant challenge the elephant challenge helps people in the free group find Opportunities to work with the leaders in my community I'm going to say that again I'm going to say what the elephant challenge is again just so you guys understand okay the elephant challenge is meant to help the people in the free Facebook group find Opportunities and work those opportunities with people in my trained community do we all understand what the purpose of the elephant challenge is give me a yes okay so today will be part one of 12 Parts okay there will be 12 more elephant challenges over the next 12 months I'm going to give you a cash and wholesale education all around doing real estate deals that would I that I would say I would pay fifty thousand dollars for it's going to be completely free there's going to be no pitches there's going to be no hey if you do this thing then you can get do this thing or whatever it is it is truly just to train the free Facebook group on how to do deals with my trained community it's unconditional now this elephant challenge this is going to be part one we're going to teach you guys how to find buyers we're going to teach you guys how to fill out contracts we're going to teach you guys how to choose your Market we're going to be very basic and then what we're going to do is we're going to teach you guys how to submit your first offer how many people in here have never sent out an offer on a property how many people say type in no or me no or me okay now we're looking guys we're looking at hundreds and hundreds and hundreds of knows or means in the side chat that is the objective the objective is for you guys to send out an offer by the end of the week okay we've got three days today three hours mostly information today okay I'm gonna train you I'm going to teach you guys stuff information today tomorrow we're going to teach you guys comping for three hours and then on day three we're gonna submit offers okay that's it that's all we're going to do for these three days am I going to answer anything about creative Finance maybe I might teach you a little bit but where should you be learning creative Finance from you should be learning creative Finance from my community okay you should be learning creative Finance for my community the people that you're going to plug into okay and if you need money for earnest money this is another common question people get is they but I don't have any money how do I get started without any money where are my Gators in here where are my Gators okay those people that are gators are the people have money now don't get me wrong there's a lot of sub two community members that have money too but the gator specific thing that I train them on is how to get access to money a lot of money okay so when you're brand new you ask the question of I don't know where to look I don't know where to start I'm going to teach you where to start okay today is going to answer the question of where to start secondly we're gonna give you guys the ability to tap into those resources so you don't have to be a gator you don't have to be a sub 2 student you can actually just go and do deals with my Community member Sebastian says Pace I have a sub 2 deal in Buckeye single family no equity sub 2 deal with you purchase it it's a VA loan three percent needs little to no renovation okay Sebastian Garcia awesome let's let me just see if I can bring you up here for a second got people with nine people have their hands raised I never trust that because it's like there's no way that you have a question at this early in the stage of the game there's just no way if you do then you're just you want to tell me what your favorite micro machine is or something weird Sebastian what's up hey how's it going Hey brother are you is this a contract or a lead no this is a well I'm getting the contract signed it's in the process um it's in Buckeye Arizona yep I own a lot of I own a lot of property in Buckeye What's um it's a sub 2 deal VA yeah Sebastian are you one of my sub two students no I am not not yeah I've been I've been meaning to to purchase it but I haven't gone around to it yet I will this fashion will never do another real estate transaction with a non-community member I announced this back in January I just don't have the time to fix all the problems and the paperwork and all the things about it you're gonna need all sorts of help and guidance from me what I would do is I would work with my community members here locally Ingrid Hernandez Jose says they can help you okay I I would love to buy the deal with you but I will never do a deal with a non-community member ever again okay so what I would do is take your time to communicate in the side chat here's what I find okay with the non-trained people you watch what's on my YouTube channel my YouTube channel is like one percent of what my trained people actually learn okay it's entertainment it's not education so when you're out there learning myself up to about stuff on YouTube it's giving you guidance to how to get started Etc but now you're gonna go well did I fill out the paperwork right even if you went and got an attorney and they created the seven thousand dollars worth of documents you're gonna be sitting there with the seller going well what do I what do I tell them about the do on sale clause and the continued liability of their their debt in their name what do I tell them about when the property is going to be paid off what if the seller wants a balloon all of these types of questions I don't do that anymore I do it only for my community and so what happens is when a non-community member brings the deal to me it takes five times as much effort on my part to get the deal done than it does with somebody who's trained inside my community and so my team my transaction coordinators my my construction managers they want an efficient Pipeline and when I put a non-community members deal in my pipeline it slows everything down and I can get five deals done with my community while I work on one deal with you so it's not efficient it's not a great way to build a business is to do those deals you need to just work with my community members and that goes for everybody even though that I just I just thought I'd ask because I remember on the last elephant challenge not too long ago you said the only way you would accept uh a deal from a non-community Community member is is in Arizona not from anywhere else but I have everything pretty much down the paperwork I have a transaction coordinator that I'm working with myself Sebastian I almost want to do the deal with you just to highlight what I already know is going to be wrong on the deal yeah I already know everybody that says oh yeah let me let I got it I got it taken care of we have to go back and we have to fix and I have to sit down with the seller and fix all the things that you told them in a sub 2 deal or a seller finance deal it's more than just hey I'm taking over your mortgage there's about 17 disclosures that you have to understand how to articulate because there is a continued liability in a sub 2 transaction I would have to go back and have that conversation with your seller if I bought the deal we got under contract I would rather just you work with one of my who who Caroline go to Caroline Kane one of my she actually used to be on my acquisition team um Caroline Kane why don't you reach out to Sebastian and see if you can help him out I think that's the best way to do it she'll help you out she's been in our community for three years or so all right um okay cool now that that is uh going let's do a little bit of house cleaning we got some q a guys we're going to teach you guys how to choose your market today should be good Jill Cottrell I am wondering if you actually meant to raise your hand Jill how you doing I didn't realize I did I'm so sorry okay no worries hey everybody that has your name your hand raised can you guys please do me a favor and lower your hands this is just you know basic Zoom etiquette it's no big deal I'm not upset about it or mad or anything like that just lower your hands that'd be great you got about nine people with their hands raised in zoom and y'all don't even know you did it Virginia Floyd Aubry Edgar Vargas Angela Payne if you guys actually meant to um raise your hand then raise your hand happy to answer some questions but I want to just teach and I don't want to have to have you guys asking me questions like what is wholesale we're gonna get to all that stuff if you have a question that is you just lack patience and you can't wait for us to get to the topic please lower your hand if you have something that you're like I really need to know this right now and it's on topic then let's do that okay I've got three people with their hand raised right now Preston Boggs in Ohio let's see if he meant to raise his hand Preston how can I help you brother Hey Brother um I actually have a development deal in Shelby Ohio I actually sent you a Instagram messages about it um I'm not sure how to set it up because I got a funder but he's wanting to like okay so Preston do you think it would be do you think this is the appropriate location for me to train I have 1300 people on the zoom and I have a topic that I want to teach people and you're coming in here to talk about a deal a Land Development deal if this is a beginner challenge right somebody's just starting out they don't even know what Market they're in and it's my job to use this three hours as efficiently as possible do you think this is the format and the time for me to talk about a Land Development deal with you no sir I'm sorry all right brother if you send me a message I usually respond I've just been sick I've got kovid I took a nap today so I probably haven't replied back to your Instagram message I apologize about that um so maybe find somebody you're in Ohio right yes okay who in my community could you work with in Ohio on this deal um not sure I know a bunch of funders that were are in the community but okay so that's what that's where I would start I would work in the side chat and tell people in the side chat hey guys I've got a development deal with love to work with people and that might take you three or four times of posting it but you'll find somebody Virginia Floyd let's see one last person let's see if we've got a question Virginia how you doing I'm doing great how are you I'm good Virginia do you have a question that's on topic no I have a question about the um zero down okay so Virginia that is a bonus education for the sub 2 Community this is a free training for the free Facebook group would you say that this is the appropriate place to ask a question to about zero down not really okay so Virginia what's your question how can I help you I have um a business that I would like to do and I wanted to talk to somebody about it how to how to go about it okay so Virginia you must be a newer student of mine yeah would it maybe be would it maybe work if you were in zero down you got the education I gave you and you're in the you're in the Facebook group or you have your local media who who's what city are you in Las Vegas okay we how many people in Las Vegas do you think we have in the sub 2 community a lot I met quite a few okay so maybe that's the place to start is to work there right or wait until I do a live training inside of zero down which will actually happen next week okay very good okay awesome again I'm going to tell I'm going to tell everybody what this is for now some people somebody in the side chat said Pace Came Out Swinging have I not just been really polite guys am I being polite am I being rude am I being any of that kind of stuff or am I just being polite now Caroline says somebody in the side chat she says stop answering questions Caroline if you knew how to run a 1300 person training for three straight hours and how to watch the chat and handle all these things I would take advice from you but I'm going to tell you right now I don't know anybody I should take advice from on this exact topic what's actually smart of me is when I do answer questions think about what it does psychologically I'm going to give you I'm going to give you um I'm gonna give you a little bit of Education Caroline if I answer somebody's question live and I utilize their question as a way to educate the audience that this is not the pertinent time to ask a question isn't it actually very smart for me to answer that question guys I know what I'm doing thank you so much I appreciate it I do know what I'm doing I know how to start these out people show up late people show up 30 minutes late 40 minutes late and then I get people that show up on time and they go hurry up pace just get started totally get that thank you so much I have been doing this for a long time but I understand that people just show up late they trickle in and so what's important for me is to start by educating you guys and giving you some information the very beginning before we actually get started okay so um has that was that polite was that nice for everybody okay um siraj James last question how can I help you Suraj uh hey everyone hey Pace thank you so much I've been following you almost like uh three months uh since I was getting lost in all these wholesale real estate things so my question is uh so is this uh gonna be more like a traditional way like going driving for dollars kind of thing or like do are we gonna making a cold call also uh like okay so here's what we're gonna do I'm gonna say this again it sounds like you might have shown up a little bit late but this is a really great question and let me answer this thank you for the question it's really pertinent okay thank you what is the elephant challenge let's write this down okay let's write this down what is the elephant challenge write it down so when somebody says what is the elephant challenge the elephant challenge is a way for me to teach the free Facebook group how to generate leads and opportunities to then go work with my trained community now that's one sentence right that should give you an understanding how long will I do this elephant challenge for this is elephant challenge number one we're starting from the basics we're going to help you guys pick your Market we're going to go through and do 12 months of Education Suraj so if you are currently thinking about going and buying some of these wholesale mentorship I'm going to tell you right now that in my free elephant challenge over the next 12 months this will be worth a 50 000 education live we will do it every single month and I'm going to have you memorize and learn a word called chronological chronological so if somebody came in here right now and asked me a question about a Land Development question would that be an important question right now or should we be focusing on how to get everybody to choose their Market how to get everybody to understand where the opportunities are is that a better place to start than Land Development which would be like nine months down the road yep okay so when somebody comes in here and they say hey I got a Land Development question well if I'm doing chronological Means A to Z education over the next 12 months yeah Tracy Numa says you're teaching everything for free well it's Tracy tell me you showed up late without telling me you showed up late you know what I'm saying um Tracy has two Tracy are you there yes I'm here how late did you show up it was really rhetorical I know you said that okay okay it's rhetorical okay cool but but I asked because this they're still free I get it I'm a student and you said before that when you teach stuff that's free they're not really getting everything that they need so I was just trying to figure out what's the difference in what you're doing now and when you say um everything on YouTube is not everything that you need okay so Tracy here's here's what people need thank you for the question I appreciate it people need a baseline foundational element in the cash World for free right this is Cash education I'm not going to teach gator in here I'm not going to teach creative Finance in here I'm not going to go into the nuances of holding properties and expanding and growing your your your uh business I'm just gonna be very simple it's Play It's just play by play start with the basics how do I choose a market do you know the real thing I'm doing in here Tracy is I'm going to give everybody in the free Facebook group just enough information that they can bring those opportunities to people in my communities okay I've already said that you were here for it yeah I'm gonna say it again okay do you guys Now understand why I have to say things 18 times because even though Tracy you heard me say that earlier and I was very specific about it in fact let me say what the elephant challenge is again the elephant challenge is a way for me to teach the free Facebook group how to identify and gather opportunities to then bring those opportunities to the people in my community does that night kind of explain the same thing that I just said got it okay so do you understand why I'm doing this have I given you a clear understanding of what the benefit is to being a student of mine versus being somebody in the free Facebook group yes I got it so look at Angie molinazzo Tracy if you don't know Angie milanazzo you should probably know Angie milanazzo she comes into every elephant group every elephant challenge she's probably done well over a hundred deals with people in the free Facebook group they generated the lead and my students the people in my community know more than I'm going to teach in here I'm primarily going to teach the people in the free Facebook group how to generate and identify opportunities and guess what I do it three days a month they don't have everything they need they don't have all the information they need that's why I'm bringing my leaders of sub 2 and Gator to help me run the elephant challenge so that they can help them get to the finish line and those students in sub 2 and Gator can monetize on those transactions so is this actually to benefit me Tracy or is it to actually benefit my sub 2 Community the top tier TC community and the gator community so yes all of the last three listed yes is to benefit everybody now here's here's the challenge does any one of my sub 2 students or my gator students do they have the physical capability of getting thirteen hundred fourteen hundred fifteen hundred people to show up to these things the answer is no they don't no right yeah I know I know very popular influencers that can't get 200 people to show up to their Instagram lives okay so my job as somebody who wants to provide overwhelming value to somebody who's already in my community is to show the people in the free Facebook group how to do something that you Tracy sub 2 students Gator students top tier TCS never paid me to teach them nobody ever taught paid me to teach wholesale and cash opportunity education I've never been paid for that ever once never been paid for that so what am I doing I'm giving that away for free so that I can help the people in the free Facebook group create opportunities identify identify all sorts of things for people in my trained community so not only does it benefit the Free People to identify and find the market they want to focus on but also benefits the people that are in my communities that they can practice what they have been taught by helping those people cross the finish line and making money together do you understand now the vision of what the elephant challenge is yes genius I am I am a genius I will tell I will be the first person to admit that when these types of things go on the challenge is it's impossible for me to explain my vision to people who don't have vision and so I rarely talk about how smart this is it's great that you ask this question because it gives me the ability to answer this in depth to everybody do we all understand through Tracy's great question what exactly I'm doing in the elephant challenge so is there anything suspect going on Tracy that I'm charged I I never charged anybody for cash transactions nobody you'll never see me sell a wholesale wholesale course okay right so what I'm doing in the elephant challenge is I'm helping people identify these opportunities we're going to teach everybody how to do this and I'm providing this actually you know who benefits from this the most is actually not the people in the free Facebook group it's actually my students will benefit from this far more than anybody else because now they have me teaching the free Facebook group how to go and do the the grunt work on finding opportunities and then bring those opportunities to my community yes okay anything else I can answer for you no that was it thank you no problem great question okay siraj anything else I can help you with before I get started uh you answer all all my questions so far I'm pretty excited okay great now um Daniel says I'm ready to start with the topics for the day Daniel if you spend a day with me and you watched how I have to nuance and say the same thing 18 times you would also maybe gain a higher level of respect for what it is that I do on a daily basis I'm 40 minutes into a live training and you can see I'm answering questions maybe in a different way telling a story about it whatever I've got to do changing the wording on a question that I literally answered 40 minutes ago why am I doing the elephant challenge what's going to be included what are you going to learn and then people still come in and go wait I'm still confused so it's actually very smart for me okay it's very smart for me now here's another thing I'm going to say this last thing to you guys pay attention to me and we'll get started a lot of you guys went to college and you didn't question the fact that you were going to sacrifice four years of your life sitting in stupid classes listening to things that you'll never use paying those people and driving there getting out of your car going into class brushing your teeth going to the admin you know signing up for the next semester's classes you did this for years and years and years and years and years and it benefited you very little some of you guys four years some guys six some people eight some people even twelve okay yet when I start a live Zoom that didn't cost you any money you have the patience of a 13-month child why is it that you were so patient to learn and actually pay somebody something that you'll never use and sit in class for Years yet when I'm explaining to you what the elephant challenge is your patience is the patience of a 13-month child okay so I will go at the Cadence that I want to go at I will teach at the level that I want to teach at I will answer questions when I want to answer questions I don't need to be coached on how to be the best in the game at this one thing I already know I am if you lack patience then you can leave and you can go back to your job if you have patience and you want to actually help in the elephant challenge then please stick around here's the thing that's actually the most challenging part the most challenging part are the students of mine that have actually been trained for the last two years or three years they are in a zoom geared up and ready to help the Free People who do you think is actually practicing more patience than me are my students that have been in my programs for two years three years why don't we take a moment and thank those leaders for being here they're not here they're not paid to be here they want to do deals with you let's take a second and actually thank them and say thank you sub two students thank you Gators thank you top tier TC thank you for being here they are the ones that actually already have all the information I'm about to give you so they're sitting here patiently having to listen to something they've listened to 25 times they've even mastered it some of them could teach it okay but why are they here because they are here to watch me be patient through teaching the people in the free Facebook group that's why they're here they know that I will help generate a lot of leads for people and we will see dozens and dozens and dozens of deals get done out of this free elephant challenge they are the ones that are sitting here just going I know what pace has to go through I know Pace has to answer the same 18 questions 100 times I'm here for it because they know what the elephant challenge has done over the last couple of years okay um Maria says I don't know how you do it I do it for my students I do this in a way that I can generate a lot of activity a lot of attention a lot of love a lot of everything for my existing students okay so if you are one of my existing students and you already know how to identify and comp a deal and talk to a seller why don't you type in the side chat me and let's find all the people that already know how to do that they're here think about all the people that are in the meat look at the me's literally 200 people 300 people 400 people now are in here just to help out the other 900. okay so if you are here and you're like hurry up with the training stop and ask yourself did you say that when you went to your your counselor your college administrative office and say teach me right now give it to me right now no you were grateful to hand your money over to them and get a four-year degree that was worthless okay so the least you can do is wait for 45 minutes while I let everybody know what we're doing okay cool so the people that are the other 900 if you're in the free Facebook group type in the word free for me if you're in the free Facebook group as a non-student free Facebook group non-student you are the people I'm doing this for look at all those free okay keep typing in the word free you've never paid me a dollar you've never been part of any of our communities you are just here to benefit from all of the two years three years and in some cases three and a half years of training that my students have taken from me okay free The Challenge and why people don't do free challenges they want to charge you for something is because free people don't appreciate what's being given to them you should not feel bad you should just understand that you just need a little bit of patience it's going to take two more hours today three hours tomorrow and three hours the next day okay don't feel bad I want I don't want you to feel bad not paying for something I want you to understand what the elephant challenge is have we all gotten on the same page in the last 45 minutes exactly what the elephant challenge is okay very cool now today let me ask you we're going to start Basics very very basics how many people in here give me a yes or me in the side chat how many people in here have still not identified the market that they want to start in Market meaning city give me a me or a yes me or yes doesn't matter okay great so it would be kind of crazy for me to just start talking about Land Development and how to raise money for people that don't even know what Market has started so that's what we're going to start with today we're going to start with how do I choose my market how do I know where to identify opportunities how do I know where to go and look for my Power Team okay you're always going to need a power team when you're in real estate and we're going to talk about that today so for the leaders that came in here today that have already heard this a thousand times thank you thank you you guys are like the road team for um Dave Chappelle think about how many times Dave Chappelle's team has to hear the same joke every single night a hundred times over thank you for that I'm recognizing how much work you guys have to do to come in here and be patient alongside me okay at some uh solely says they still laugh I don't know maybe they do maybe they don't but I can tell you A lot of the stuff I've already said but we're gonna do it chronologically chronologically means in order we're going to give people the information that they need now the number one thing that I have found in all of my years of educating the number one thing that holds people back from taking action is what the number one thing is they don't know it's not it's not fear it's not fear I promise you that it's not fear okay once you understand some of these things you okay you guys are giving very generic things here I'll give you I'll give you the number one thing okay the number one thing that people struggle with in order to get started okay is number one they don't know what their Market is so what they'll do this is very interesting to me is they'll go ahead and learn how to comp they'll go how to learn how to you know they'll go pay 20 somebody 25 000 on how to raise capital they'll learn they'll go pay somebody you know fifteen thousand dollars for a wholesale education and I've taken wholesale education or my friends have given me access to their wholesale education and you know the number one thing is that they don't even teach in any of this stuff is where to choose your Market okay they don't know their Market they don't know where to start am I going to go to North Carolina am I going to go to California okay Jesse says well should you start where you live not always okay and we're going to talk about that here for the next hour probably okay um they say my pen is going out no I just chose a pencil instead of a pen here's here's the actual pen it's a lot more solid there you go it's not going out guys it's not a pen it's it oh my gosh I gotta not pay attention to Knuckleheads okay so the number one thing that I see that keeps people from being successful is they actually have never chosen their Market so over the next hour I want everybody to choose their Market would you guys feel like you you move forward in your education today if you actually knew what Market you were going to be starting in okay now how do I cold call how do I do anything in the business if I haven't chosen my market so I see people go learn how to comp they learn how to raise money they go pay somebody wholesale education for fifteen thousand dollars but nowhere did somebody say this is where you should start now why is that important why is a market important I'll tell you why but I want to see in the side chat why what else do you guys see why this is important besides a okay your Power Team if I go do a deal okay if I go do a deal in let's say Arizona in my mind I didn't just do a deal here's what I did I got a new title rep right a new title person I got a new escrow person I got a new relationship with a buyer okay I got a new relationship with probably 20 other people like inspector um appraiser lenders private money lenders Etc right so one deal in Arizona would give me am I am I getting these relationships in North Carolina when I do a deal in Arizona 's no so why would I be over here comping but let's say I go to a deal in Arizona and 30 days later I go oh I I want to go to North Carolina I want to switch over to North Carolina do you think it's easier to do the next deal in Arizona or the next deal in North Carolina if I've already done a deal in Arizona okay I already have my power team right I have the people here's me right you usually have about 15 people on your power team and these are all these people a cash buyer you've got appraisers you've got a title company you've got um probate attorneys you've got all sorts of relationships that you go and develop every time you do a deal like right now I see Jordan Reyes in the side chat Jordan Reyes and I are doing a deal in Montana right now we're closing on an RV park roughly six and a half million dollar RV park on seller finance guess what Jordan I just acquired we acquired a new title rep we acquired a new broker we acquired all sorts of relationships through this transaction wouldn't it just make sense for me to continue to double down and leverage those relationships rather than bounce around from Market to Market to Market to Market does that make sense so the second deal is going to be a lot easier than the first deal in fact the first deal is all about a handful of relationships and so in the elephant challenge between today and the end of Friday we're going to teach you guys how to go acquire a few of those relationships okay so what are the first two relationships I need I'm going to tell you right now if I'm brand new I'm going to tell you who are the two relationships I need actually um I'll give you five I'll give you five relationships that you need in your local area Okay number one you need a title company number one you need a title company who's going to do the transaction who am I going to open the transaction with okay second one is I want a buyer I want somebody to buy with to buy my deal okay and a lot of times that buyer is maybe even one of these three people sub 2 student Gator student and top tier TC students those are the five people that by the end of this week I want you guys to know do I need a general contractor if I'm brand new I don't do I need an attorney if I'm brand new no I don't I need these five relationships I need a title company I need a buyer that buyer could very often be a sub 2 student a gator student or a top tier TC okay Tanisha up says I mean hey Tanisha good to see you she's one of the leaders in sub two she says I made ten thousand dollars today just from knowing the right people now at one point Tanisha would come into our zooms two and a half years ago or whatever it was and she would ask questions that were very basic questions she's had the patience to acquire relationships so a couple of things if we have a goal that by Friday okay here's our goal this is what I want you to do if you are if if you're in the free group and you're here for free you've never been part of any of my communities say me in the side chat because I'm going to ask you a question after this I want to see how many people we have that are that are not part of any of my communities okay my account right now is somewhere around 900. okay we have about 900 people so out of those 900 people would you say that all 900 of you guys would be excited if number one you were able to send out your first offer by Friday would you be happy by that two would you be happy if we helped you um find your uh Market you could identify and find a market would you be like oh my gosh I've moved forward I know how to start I know where I'm where I'm going and then three you have the relationships you need right so the relationships are basically a b c d and e okay a is your title company okay we're gonna help you find that B is your buyer now a lot of times your buyer will be one of these three people but let's just assume it's not okay would you feel like you are so happy if you know a sub 2 student in your local area a gator student in your local area and a top-tier transaction coordinator in your local area would you feel like if we just accomplished this right here the first round of Gator training you would feel like wow I've moved forward I've got traction I feel so grateful to do this thank you thank you thank you thank you give me a yes in the comments let me know if you would be ecstatic and you would feel like you've moved forward in your business okay that's all we're gonna do it's gonna take us three days to do that you're going to walk out with those things you're going to accomplish something that basic it takes time to build these things up it takes time to accumulate takes time to be patient with yourself you've got you know bad habits you've got incorrect information you've got all sorts of things so that's what our main objective is going to be okay it's going to be a boot camp basically every elephant challenge it'll be once a month sometimes I think next month I might do two of them in November I might do two of them in December because I have a baby I'll be home a lot more and I want the people in the free Facebook group to generate a tremendous amount of leads okay um for my existing community okay so there you go there is what our main objective is my main objective okay is for you guys to send out an offer by Friday choose a market today we're going to choose that that's going to be today okay today we're going to choose a market and then over the next two days we're going to help you guys identify and find these relationships so that you guys have a Power Team okay so this is your power team we're going to help you find and identify these people in your local market your your title company your buyer okay so we're gonna call tomorrow I'm going to call it title company tomorrow I'm going to call Cash buyers I'm going to show you guys how to do that okay Chris says offer meaning loan um Loi so Chris great question let's touch on that for just a second that is very um pertinent I would say um Chris Hobbs of okay there we go Chris hi base and Community thanks for uh calling on me this is uh my very first uh introduction and I'm on board committed I just discovered you last week oh very cool awesome okay so um Joshua Jones says does Pace own a title company yes I do um I do own a title company but that's not the point of this question thank you for that um okay so Chris um an Loi and an offer what would you say is the difference between those two or do you need me to tell you the difference um an offer might probably be a verbal with the seller and then a letter of intent would be followed um to secure that deal okay so the only place that really uses Lois is in the commercial space and also in businesses you're not really using Lois in single family can you use an Loi in single family sure you can but you're going to show your agent or you're going to show your seller who you're working with it's like wait why am I in an Loi Loi is a letter of intent in the business buying world that is as good as a contract in the single family world that's just saying hey I'm submitting an offer this is not a binding contract I can't hold your feet to the fire in the single family world so what we're actually going to do is I'm going to teach you guys how to fill out a contract and we're going to send a contract as our offer by Friday does that make sense Chris okay yeah it does the only place that you should be using Lois is in the commercial space and in the business buying space uh an offer in single families just way more simple and it's a way to get your agent or your seller into a legally binding contract so we will actually be showing you guys how to fill out a contract um yes he says my Loi gets ignored but a contract gets response even in a commercial so an Loi is like telling a girl hey maybe one day we should go out for coffee to potentially take your coffee a contract is hey I'd like to see you Friday at 7 pm I'll pick you up and we'll go to coffee right so we want to show you guys how to be a little bit more committed and show your seller that you're committed as well so we're going to show you guys how to fill out the contract uh probably tomorrow or maybe Friday morning and we're going to show you how to submit it to the agent that helpful thank you that's perfect awesome great question appreciate it thank you so much okay cool so um there you go good stuff Xavier raises his hand Xavier if you have a question that is off topic you're going to get a karate chop from Caroline what's up Xavier how you doing no question my bad okay got it hey guys um in the future if you raise your hand and you didn't mean to you're a knucklehead that's all there is to it Xavier can you please look out how to lower your hand please I lowered it for you but um everybody look for that Xavier just raised his hand again Xavier please my brother guys don't raise your hand unless you have a question thank you so much okay okay so right now what I want to do is we're going to choose our markets okay today we're going to go and focus on what is my market I want to focus on what is my market now your Market is going to change please write these things down these are important things I'm in the I'm in the nitty-gritty I want you to write these things down and I will write them down for you on the on the Whiteboard as well but I want you to choose a market okay number one that is a good enough population I don't want you choosing markets that have less than oops not dollar sign my bad I don't want you choosing markets that have less than I'd say 300 000 people gosh dang I'm sick guys so apologies for screwing up I want you to have a market that has 300 000 people or more why why would I want to choose a market that has 300 000 or more there you go demand more demand there's people moving there okay number two I want you to choose a market based on growth okay we want markets that have greater probably greater than or equal to a point eight percent growth okay we want them growing ten percent basically every 10 years okay there you go competition equals comps yeah you got demand you got business being done right you want growth you want markets to have growth so let's start with those and I'll go through each one of these with a little bit more information just FYI I'm just going to tell you the top line of these and we'll go back through them okay number three politics now I'm I'm going to get into something I'm going to get into something that's going to be a little bit touchy okay are you guys okay if I get into topic topic that's touchy even if I'm not a politically Affiliated this is important for you to know as an entrepreneur what is my political class does anybody know what my political class is now somebody's gonna assume because I'm white and I'm a business owner that I'm a Republican I'm an entrepreneur that's all I am I'm an entrepreneur my job is to go and supply income and opportunities for people in my company that's it so if I've got like you guys saw I saw an article this morning that California is now going to punish parents who do not affirm their children's identity in their their gender has anybody seen that did you guys see how crazy that is it's the I I almost cried when I read this I was literally gonna cry I was like California just passed a bill that says that if you as a parent do not affirm your child's identity even at four years old five years old six years old you can be punished or have your child taken away from you okay so is that a market that I want to go invest in whether it's real estate guys this literally just happened I want you to go Google it that literally happened I'm not making this up it's not an exaggeration it's truly that's what's happening okay now it's got to go to Gavin Newsom and all sorts of stuff but do you think I want to go invest my money yeah Chris says is this real life I don't know man when I read the article and I went back and I actually saw the interview from the lady who helped create the Bill and I'm listening to this lady she doesn't even have any of her own kids okay if you live in California that is a bill that they just passed it's now going to Gavin Newsom okay so can we agree that politics is actually very important to where you spend your money and where you build your your business and the type of employees that you attract it is very important okay now some of you guys are sitting here going oh Pacer I'm a Democrat you Republicans this and the other I'm not a republican I'm an entrepreneur okay well let's let's look at this let's say California is a pretty bad one so I'll use California in a couple of examples of extremes just to get you guys to understand why it is so important let's go to California landlord relocation assistance you guys know about relocation assistance how if you have a tenant in California and you evict them or they get moved out you have to pay 40 to 50 000 for relocation assistance okay um it is absolutely crazy so if I'm gonna go build a business do you think it's smart for me to go build a business in a rental portfolio inside of California if I have to pay my I have to pay my tenant to relocate I think it's smart for me to do that okay so you guys can go in here and you guys can do the research yourself but there is a relocation um when must a landlord pay relocation in California relocation assistant payments must be made available to the tenant within 15 days of service of the written notice to terminate the tenancy or move out landlords may elect to pay relocation assistance through an escrow account rather than provide the full relocation amount the 15th day so you're telling me that when I tell somebody I'm I don't I no longer want to rent to them I have to pay for them to go relocate oh interesting under the rent stabilization ordinance a landlord is required to pay monetary relocation assistance payments to tenants being evicted through no fault of their own interesting all right interesting so I I have to pay a tenant if I decide I don't like that tenant I don't like the color of their car I don't like how they do anything guys this is a law okay this is a law this is not an idea that may be a lot at one point this is a law well guess what guess who else has a lot of these laws Seattle Oregon Chicago New York okay Colorado is starting uh Colorado's got some stuff coming up that's pretty crazy rent control so imagine all of us together okay let's see I get it because it costs ten thousand dollars to rent another apartment well why is that my responsibility for you to go and rent another apartment that's not is that my responsibility move somewhere else why why am I taking care of you that's not my job okay so do we all agree that politics plays a very very important role in where you go and put your money so people that come to me and they go well you hate California no I don't hate California California hates me in fact I love going to California I think it's amazing I want I want to be around the people the food the culture I want to be all around that but if they tell me that I can't make money in my business is that where I want to put every any any of my time energy or resources the answer is no so you've got to find a place that you can scale and politics is a very important place for you to scale okay you want to look at and research landlord laws is it a landlord-friendly state well how do we do that it's pretty simple guys but let's pull this up I'll kind of show you I know there's this thing called Google but I'll show you how to use it okay let's go to Google and let's type in landlord friendly States 2023. boom Oh I like that landlord-friendly states ranked I can tell you North Arizona Alabama Colorado Florida Georgia Texas okay top six landlord-friendly states what's the easiest state to be a landlord Arizona is one of the best states to be a landlord the state has the 11th lowest property taxes in the United States it also has an eviction process that is one of the easiest to navigate an eviction can be completed in one to two to six weeks from start to finish okay here you go here's one that's top 20. Arizona's number seven number one they say is Louisiana I believe that Alabama I believe it South Carolina for sure Nevada North Carolina's going to be on here for sure Wyoming Arizona West Virginia Indiana Florida okay cool cool now check this out let me give you guys this link in the side chat so you guys can read this as well this is important for you guys to know this stuff it really is so even if you're just wholesaling okay if you're just wholesaling I can tell you it's just as important as if you are buying holding because let's ask this question write this down somewhere in your notes am I going to wholesale Forever yes or no the answer is no I don't know anybody that Wholesales forever okay wholesaling is a way to get into the business it's a good place to build a business for six seven years but what do ultimately everybody start doing they start buying and holding and Building Wealth okay so again if we go back to that thought process the thought process of every time I do a deal what am I doing write this down every time I do a deal what am I actually doing question mark That's the question every time I do a deal what am I actually doing I'm building relationships that's what I'm doing because again go back to our power team we talked about this earlier okay Title Company escrow officers lenders hard money lenders private money lenders wholesalers real estate agents all of these things you're connecting with people on a deal would it make sense for me to start wholesaling in California and build all these relationships and with people in California and go well you know I'm I'm wholesaling in California because you know I can Wholesale in California it's easy but what is the smart person thing the smart person goes wait what happens when I start wanting to buy and hold which is the inevitable it's inevitable you will buy and hold in order to build wealth what happens if I'm buying and holding and now I want to go and open up another Market guess what you are now doing every time you open a new market you are starting from scratch you are now having to start all these relationships over so does it make sense for me to be sitting there building all these relationships in California just so I have to go and build all these relationships all over again for me as somebody who is Forward Thinking now there are people that will fight me on this there's people that will say no California is amazing I make millions of dollars there they'll say all these things great go learn from them okay go learn from them I'm not the guy that's going to teach you how to go make money in California because I don't believe in holding property in California There's the link guys I'm not the guy that wants to build wealth in New York City New Jersey California uh Washington or Oregon and parts of Illinois I just am not so I immediately know that those politics are horrible which means politics run how I make my money if guys if if we were going to run a sandwich shop and we were constantly voted the best sandwich shop in the state but the government came in here and says sorry you're charging too much money for your sandwiches and you what are you talking about I got customers lined up yeah but yeah but you're charging too much we had some complaints from people that don't that can't afford your sandwiches would that be a place that I want to go build a sandwich location or do what I want to pick up and leave and go to where I can make money on whatever okay what's interesting to me is people say well California is great guys they are prohibiting you from charging how much you could on your sandwiches no matter how good you make your product no matter how good you make your service the government's going to tell you how much you can charge that's not very American in my mind and so I'm going to go to states that want me to make money okay California is a great place to visit it's not a great place to build your wealth okay I love California I would live in California and invest in other places okay guess what though when you start your LLC in California you know they charge you 800 a year just for your for your LLC there's a lot of other reasons why okay who's in California you have to pay your 800 per LLC every single year okay so you guys are sitting there going all right look at all these people saying me guys politics matter and I'm not here to make people's feelings feel better I love California I love visiting there I love the food the culture the people I love everything about it but your government does not want you to make money okay uh Josh Jones says do you recommend starting in multiple markets at once Josh Jones what do you think the answer to that question is do I want you to be overwhelmed in the very beginning or do we want to just start slow what are we really doing when we do deals let's answer that question what are we really doing when we do deals building relationships creating a power team so that we can scale and expand so does it make sense for me to be in two markets in the very beginning or is it better for me to be in one market in the very very beginning one market okay um Bowen says what about foreclosures I'm not sure how foreclosures have anything to do with what we're talking about right now but let's let's see he says let's see if this is a a good good question Bowen what is exactly your question hello you are unmuted you should be able to talk can you hear me now yep I can hear you what what do you mean by by that well you're talking about invest in different states and stuff um I'm from Texas and and we're growing a lot I mean a small city in Texas but I see foreclosures around me they're kind of showing even more so I guess that was my question I'm sorry if it's not related I just that I have that question in my head okay great it's a great question it does is not at all related which is okay I'm gonna use your question answer and actually show you why it's not related and that might help a lot of people so great question okay so think about this guys here's here's the here's the phase of learning this business look at the screen please look at the screen okay step number one on my path to getting a check is choosing a market right that's step number one I gotta choose a market I gotta build make a business I gotta have some relationships then you're going to implement your strategy so foreclosures is a strategy would it make sense for me to start saying Hey I want to focus on foreclosures before before I've even picked my market anybody Bueller Bueller would it make sense for me to go and choose foreclosures before I've even created a business no chronological remember in the very beginning of the challenge I said chronological okay chronological chronological Means A to Z I'm going to teach you guys A to Z so what I'm teaching you is Market the problem is I'm speaking slow and I'm making sure everybody understands where I'm going okay I'm letting people know how to choose a market and some people in here are so impatient right we're in The Tick Tock culture that their brand their brain is already on strategy guys focus on the one thing focus on the one thing that you need currently okay the foreclosures work in every Market we do not need to talk about strategy today we'll talk about strategy tomorrow and the next day but today we're talking about Market I want you guys to walk away knowing your Market okay does that make sense to everybody that's strategy strategy strategy strategy strategy okay a lot of foreclosures in every Market there's not a single city in the country that does not have foreclosures we have foreclosures everywhere okay cool so are we going to talk about strategy at some point are we going to talk about how to go out and generate these leads foreclosures okay guys pay attention to this foreclosures is a um list it's a list so when you decide what strategy you're you're going to use the next question you're going to ask is what list am I going to apply to that strategy strategy is what strategy is am I going to cold call am I going to text am I going to send out Direct Mail am I going to door knock am I gonna drive for dollars am I gonna you know that's strategy what's my lead generation strategy and then you're gonna say well am I going to door knock foreclosures am I going to door knock probates am I going to door knock uh divorcees am I going to door knock bankruptcy am I going to door knock tax liens so door knock is a strategy cold calling is a strategy driving for deals is a strategy right sending out mail is a strategy Billboards is a strategy Facebook marketing is a strategy but then you have to apply it to a very specific list okay divorce High Equity low Equity we can't even talk about that yet okay this is the problem with a lot of people okay A lot of people are like well I don't understand it somebody actually asked me a question uh okay Charles another another non-topic topical question Austin I'm sorry not Austin but um who asked that question so Charles is asking a non-related question and that's okay but I'm going to point out to you guys why these questions should relate or wait until we get deeper into the training Charles how you doing um I'm pretty good pretty good how are you Grace I'm good so pre-foreclosure not that this has anything to do with what we're training on but I want to answer this question so you understand how this won't help you choose a market really but it kind of does a little bit because there's politics involved okay gotcha a pre-foreclosure is very literal Charles it's pre-foreclosure which means that the bank has not filed foreclosure on the seller yet it means that they're 30 days late they're 60 days late they're 90 days late okay somebody that's in foreclosure means that they have actually received a letter from the bank saying we intend to foreclose on your property okay so there's three parts of this okay three parts of this now why would I why would I choose one one strategy over a different strategy okay foreclosure I just call them foreclosures just so you know because for a foreclosure is somebody that indicates they're in pain they can't pay their payment right that's their pain point right their motivation right that call we call that the list what list am I calling on what what motivation what motivational list am I calling on there's three parts to a foreclosure okay check it out there's pre-foreclosure means that they they are now 30 60 90 days late then there's people that are in foreclosure and depending on your state this could be three months or this could be seven six years okay does anybody know what state is probably going to be amazing if I want to focus on foreclosure do you think the politics of foreclosures are going to be really beneficial to me in California or they're going to be more better for me in Arizona okay so politics do play a part of this so if you when you get to your strategy Arizona yeah Arizona is a market that you can foreclose on people very quickly same thing with Texas okay why is that important am I am I the one that's actually foreclosing on them Charles Charles sorry I got a headset on and it's going back and forth between my phone and my okay so Charles has got bad internet no no big deal I'm not the one that's actually filing the Foreclosure am I somebody's behind so guys you see how we're getting ahead of ourselves write this down the reason I'm lost is because I'm impatient be let's be honest with ourselves the reason you're lost is because you're impatient you can't wait to get through Market you want to start asking about foreclosures that's not even remotely close to what we're talking about today so when you guys are sitting there saying hmm I'm lost I'm overwhelmed it's because you are not patient you can't get through things in a chronological or succinct way you can't even wait until we're done talking about Market to start talking about foreclosure now do you see why people don't like teaching for free and you guys are like hey um Alberto Garcia Alberta I'm gonna pull you up here just one time because you're putting your site your information in the side chat and I've asked you guys not to do that and you're one of my students so I'm going to yell at you okay Alberto hello how late did you show up that you feel like it's okay for you to put your site your information in the side chat uh Little League okay so Alberto thank you for putting that in the side chat we spent 15 minutes in the very beginning letting everybody put their contact information in the side chat and I then turn that off you showed up late and you've put your information in the side chat please don't do that yeah okay I love you I appreciate you but I I gotta point out guys I don't need you putting your information in the side chat okay we've already done that got we've gone past that point we don't need you putting that stuff in there we all agree okay he didn't do anything wrong except he showed up late but if you show up late you just lose some of your rights if you show up on time and you go through do you see the biggest problem with everything in people's lives the biggest problem is people don't pay attention the next biggest problem that they that people have is they have they lack the patience to wait for the information to come okay so when you show up 15 minutes late should you be raising your hand the second you sit down and you hey teacher I have a question what do you think your teacher is going to say your teacher is going to say hmm we probably already covered it are you sure that this is something but teacher I just got a question I got a question okay what's your question guys when you show up late do everybody else the respect of just not asking questions okay now here you go the next step in a foreclosure is r e o REO means real estate owned real estate owned real estate owned what does that mean it means that the right here okay the bank sends out a letter right here here's the letter in the foreclosure process their pre-foreclosure it's public data we can show that they're late so people are calling free foreclosures then the letter goes out and they're actually in foreclosure then the bank actually takes the house back and when the bank owns the house it's called real estate owned stay away from arios it's not worth your time right now it's not a beginner strategy stay away from reos some people say oh I'm an REO agent good for you stay away from reo's stay away from REO stay away from Marios it's a waste of your time okay all right cool so right now we're choosing Market right let's go through the list one more time um before I get sidetracked again my population I want to show you guys how to do that growth I'm gonna show you guys how to do that politics just showed you that okay and a lot of times I will choose a market based on my number four which is resources okay where do I have good relationships where do I already have people that are in that market Gina Marciano Gina do you think that me deviating and saying what about wholesaling and REO would be a good use of my time right now in this education should I stop and answer your question right now okay let's stay on top of guys let's ask questions about Market okay let's ask ask questions about Market specific questions okay so population growth politics resources okay so number five future now this one you probably don't need to worry about so much but I do identify future if I'm going to spend a lot of time in Montana an area that I normally wouldn't invest in but I spend my Summers up in Montana would it make sense for me to invest in Montana the answer is yes okay so where do you see yourself in 20 years do you guys all want to be living where you're currently living right now in 20 years or do you want to live somebody else somewhere else okay I know where I'm going to live in 20 years I know where I'm going to live in 20 years okay so a lot of people are saying I want to be somewhere else okay so wouldn't it be intentional and really intelligent for you to start choosing a market that you already know where you're going to go so Jeremy Stafford says I won't be in California I'll be somewhere else Edgar says Hawaii okay Edgar awesome you then have to go back okay Lester says half time here and half time somewhere else same thing for me okay for me I want to spend my summers in Montana so wouldn't it make sense for me to have some stuff in Montana pop in and cooking so that when I'm up there I can actually work okay Mike says overseas for me okay I'm not going to be able to give you any advice on overseas unfortunately okay I'm going to be in Oregon and Florida so Cindy it would probably be more intelligent for you to build your portfolio in Florida because yes creative finances in Europe creative finances everywhere guys North Carolina and Florida okay cool so let's go to the Census Bureau okay we're gonna go to the Census Bureau I'm going to show you guys how to find population growth on the Census Bureau and I'm going to give you guys the link so you guys can kind of go through it and figure out what you want to focus on okay yeah so let's go to Google and let's just type in population growth by state census okay so this is the government's website state population goals there's a an actual map for this it's a really great map to uh sometimes I have to refine this all the time data tools and apps state population totals components have changed 2020 population and you know yeah that's an Excel spreadsheet I want that I got to put in a map my bad there you go interactive map okay cool so I'm going to give you guys this link while I look for it these are really cool maps these are government Maps I did not make them up this is not anything that costs money so again trying to make sure you guys have free information there's the Census Bureau link it's right there in the side chat so click on it okay so I'm going to go to the interactive net map okay census Field address canvassing demographic data viewer address count listing files fewer okay cool metrics Census Bureau okay cool cool centers of population okay let's go focus on this for a second let's see what this gives me slow because now there's a thousand people on here even the government's website can't handle a thousand people um okay nope I don't want that wow y'all y'all are shutting this thing down I think I can shoot once I get on one of these Maps I think I can choose the um population growth okay all right here we go percentage uh okay that's not what I want self-response internet internet household review proxy administrative records population count only there we go cool that's not what I want sometimes you got to search around for a minute guys sometimes you got to be patient while you go through this I know it's in here maybe somebody can help me find it since I'm okay this is it Okay cool so population okay population density population change there we go okay so immediately check this out immediately you can see all right so this is from 2010 to 2020 percentage change by state you can tell right now Mississippi Illinois and West Virginia are three states that already immediately have lost their population say look at Puerto Rico Puerto Rico has lost 10 percent of their population actually it says 29. look how much people have left this area okay so do I want to grow do I want to go there oh it's hot right now okay but I want to look over a 10-year average where is it growing okay let's go in on I'll give you I'll give you guys this map hold on just a second I don't do outside of the country um Acquisitions guys just FYI so if you're going to ask questions about look at this it's pretty simple we can see zip codes percentage change by County look at this gain of 60 or more do you think I want to be in the the orange areas you think I want to be focusing over here in Arizona do you think I want to be focusing here in Utah do you think I want to be focusing here in Nevada probably not so then you can divide down and you can actually get deeper into this and it'll give you better information but this will help you choose a market that's growing why is it important for me to buy in a market that's growing why is it important for me to buy in a market that's growing appreciation and rent growth so if I buy a property in my portfolio don't I want that to actually grow in future rent I want to raise my rent every 24 to 36 months right so if there's not enough there's not enough houses but there's a ton of demand I'm going to be able to fix and flip really successfully too right what about if I buy a property I hold it it's not only going to appreciate but I'll cash flow more that's cool what about job growth right I can build okay everybody's got the link There's the link one more time Okay cool so based on this I want you guys to just take a couple of minutes I want you guys to go in here and kind of go through the areas that you already thought you liked and just focus on them because I get a lot of people go oh I want to go to Puerto Rico yeah I go to I look at the Puerto Rico map this is the government's census saying hey there's a dip in population of 30 percent that's probably not an area that I want to go and focus my time and energy okay now here's a here's a market that Jordan Reyes and I just bought um an RV park it's grown 30 percent roughly obviously it's going to take me a second but this little market right here is Kalispell Whitefish all of these areas this is a market I already know and the government sucks can't even handle a thousand people on their website without the internet crashing okay so this is a market I'm in I'm gonna see I'm gonna see where I have Green Market so I own property in Vegas so it's here in this little area on the property here in Arizona I also own a bunch of property right here in this little slower one so it's low it's less growth um I own a bunch of property in Dallas I own a bunch of property in San Antonio area San Angelo area Houston as well so I'm look at my areas I'm already in these big areas it's going great for me I also own um in North Carolina and South Carolina right here in these green areas I own a bunch in these green areas in North Carolina love North Carolina I also own a bunch in Georgia right right in here I own a bunch in Georgia I own a lot in Florida so really I've focused all of my efforts on areas that are growing I don't know what the hell is going on with freaking North Dakota right here what this is all about must have been for like the oil stuff okay but this is where I want my population growth population change okay I want to know that the population is growing in the areas that I'm choosing to do deals not only for cash opportunities but also Fix and Flip okay if you have chosen a market that has yellow or dark orange is that a market you should probably contemplate changing from okay so people are asking what is the name of that website it is interesting to me the more I teach the more I realize how often I have to say the same thing 100 times the link was shared three times in the side chat and I now have paused the chat just to make sure that everybody who needs access to this map has access to that map okay give me an emoji thumbs up a heart give me something and let me know that you have gotten the link okay awesome awesome awesome awesome okay I'm gonna turn the chat back on I actually do enjoy the chat so we're going to keep the chat going and flowing but you guys need to make sure you click on that link Okay cool so have we chosen let's take let's take a couple minutes does anybody know exactly what Market you want to focus on when you start does anybody know tell me in the side chat I wanna I Wanna Know not just yet but yes give me a lot of yeses Okay Kevin Dickey says not really so let's have a conversation with Kevin and let's see if Kevin needs a little bit of insight okay Kevin how you doing can you hear me good yeah where are you stuck well I wanted to stay in LA watch those articles you showed me well I lived here so I like Los Angeles um well who says who says Los Angeles isn't awesome it is awesome but is that really where you want to invest your money right yeah I have okay you're I I don't I This is Gonna Come Off sounding very judgy but your city's total right it's like it literally it's the opening of a zombie apocalypse movie when you drive around your city some parts of it true I will agree with that but I mean you have 70 000 homeless people in your city right so like yeah you you have some really nice areas of course but you step one foot outside of your area that's where you're building your businesses that's where you're going to have your rentals that's all the rent control that you have in La is your intention just to Fix and Flip into wholesale if it is then I think La might be a good place for you to go but do you at some point intend on holding property in LA uh that was the goal but now um with the landlord issues that's not no longer what I want to do it doesn't seem feasible what you've said it's not like they want you to make money here and Kevin you're in La so you know this but you probably have friends that talk about the rent control or maybe even friends talking about um you know landlord relocation costs and all that kind of stuff have you heard about that stuff the landlord relocation I hadn't heard of but the rent control I mean when I would look for apartments I don't know I own a property now but like I live in it but before when I was looking for apartments I would go online and make sure it was right controlled so it wouldn't go up like 10 a year after I moved in Okay cool so when you were assuming everybody does that cool so that's your customer right your customer is actually looking for rent controlled buildings so the rent doesn't go up that's where you want to own property or you don't want to own property not anymore no okay got it so that's where you're stuck yeah and I'm like okay if I'm not gonna do la was like it's gonna be San Antonio which I was just looking at my map's still loading so I can't really look uh okay or I think San Antonio is a good Market a lot of growth Texas is a really Pro business area a lot of opportunity in San Antonio I'll probably get 12 to 15 opportunities to buy a sub 2 deal there every single month so a lot of opportunity um I think San Antonio is a great market now why would you think that San Antonio is a good Market uh my brother lives in Texas and he's talking about how much is growing so love it that's what else we just talked about we just talked about right here right you've got resources you've got relationships in that specific market so it makes sense for you to start in a market where you already have people that are boots on the ground right so there you go um you got boots on the ground so this is a big reason why you should join the or you should go to San Antonio's because you already have somebody you know you can trust um versus what other people do is they go I don't have any resources there but I really like the market I think even if there was a better market for you to start in let's say demographically or politically I would still tell you that because you have resources and relationships there that's a better place to start because you now have somebody you could reach out to but in that case where you're saying because it was a step number five future like I don't want to live in Texas um by doing working with someone that's gonna make money but that makes an issue there's no way I'm knocking on doors or driving around in Texas you know got it so a couple of things I don't need to live by the properties that I I buy in fact a lot of my properties I've never physically been to nor do I ever intentionally have the intention of ever seeing them one of the biggest challenges I have Kevin is that I have to teach a wide array of people that are all completely different right and some people they have small goals sometimes their goals are like I would love to just buy 10 rentals and be done okay that's not me I'm the guy that wants to build until I die I'm in a build build build learn learn earn earn earn until I die so I chose Montana because I two years ago realized I was going to start spending time in Montana but Montana was never part of my original buy box um but when I started visiting Montana I was like I really don't like being on vacation it's not my ever intent it's never my intention is to go on vacation I don't like vacation I can't hang out with people to go on vacation it's just not my thing I wanna if I go and take my family somewhere I'm working and my family's doing something right so I chose Montana for that reason oh I'm in Montana I'm spending three months here I might as well buy property here so I have things to do and stories to tell and da that doesn't mean that that should be my soul area because I see myself spending my Summers there it just means oh I'm here a lot maybe I should buy some properties because I'm here a lot right but what about the other thousand doors I have that I've never visited literally I have a thousand doors between apartment complexes and single family properties I've never been to those I buy just because they're political population growth resources Etc the only reason I buy based on future is because I'm in Montana right so it doesn't mean that San Antonio is the only place you should be buying right and also you might not know Kevin where you're going to end up right yeah so maybe throw number five out the window because it doesn't really pertain to you okay that makes sense okay doesn't pay uh doesn't um pertain to you because you don't know where you're gonna end up you are in California you're having fun there you get older do you have kids no you plan on having kids yes you can unless you kill cats and dogs no no kids you'll never okay then maybe La is for you la is for people that don't have kids and don't want to leave their house so maybe that's a good place for you to start I don't know um but the population the challenge is um the political side of things right you get a tenant that decides not to pay on one property that could bank that could bankrupt you on one property because of California's inability to get them out of your property so let's go back to strategy are you planning on wholesaling and fixing and flipping or do you actually want to buy and hold and build wealth Buy and Hold okay so I'm going to suggest you to not choose California if you want to buy and hold because again when we do a deal what else do we do Kevin build relationships there you go so do you want to build relationships in California in an area that you don't intend on actually holding property long term no I do not okay it makes success to build it somewhere else okay so I would suggest San Antonio is probably a good market for you to start all right yeah okay cool why well because you guess what Kevin you can buy 10 properties there 15 properties there you can start utilizing your brother's a backbone you can stabilize those meaning getting them rented out and have money coming in and then if you decide I want to open into a second Market you can but we're just talking about where you're going to start okay where are you going to start San Antonio cool there you go so do you have your do you have your answer yes okay so you've moved forward in your education you now know I am starting in San Antonio that's my market yeah okay for sure awesome congratulations so now everybody else you don't have to commit to this like it's your wife okay you can okay you can easily just choose a market focus on it for six to 12 months and if you decide either a to open a second Market or B um shut down that market and focus on another one that's perfectly fine okay so let's just think about how what if I'm starting out I don't want anybody answering this question if you've already done deals and you've already picked your Market but today based on population growth politics okay and your resources who has picked a market today in the last from the last hour hour and 15 minutes of training who's picked a market okay tell me what those markets are and don't say Florida say the city I don't want to hear a state I want to hear a city let's get specific okay love it Denver Dallas star okay got it love it Austin I don't see a single City I don't like Los Angeles really you're going to start in Los Angeles you're being serious okay that's what you want I got it wait somebody just said New York City and you're being serious Lester basio says New York Lester are you being serious right now with what we just talked about rent control and all that kind of stuff are you are you sure you want that Lester what's up I can hear me I can hear you yeah why would you choose New York tell me tell me your logic there I know the city I like the city okay that doesn't have anything to do with long-term rents I know it doesn't have anything to do with the market it's just this is the market I know so okay this is one of one of many markets so you're okay with having a property in New York that you can't evict somebody through some sort of or you can't foreclose you on somebody if you sold them a wrap or you did something along those lines you can't foreclose you can't get people out of your properties through evictions you're okay with that no but it's one of those markets you have to choose very carefully right you have to choose the property choose what you know your investment super carefully okay got it but I I hear you one two hundred percent okay so in the future all you're telling me is you're in the future you're saying I'm okay making my bed and I'm okay sleeping in that bed choosing a market that does not want me to make money as a landlord if you put it that way any other way to put it no there isn't Okay so Lester your your justification for choosing your Market is I live here and I know the market how did you learn the market how do I how did you how did you learn the market Lester is that is it impossible for you to learn a different Market no it is not impossible to learn a different Market no absolutely not there are other markets I invest in so this is just the market I live in but you know I do have other markets that I invest in okay so Lester when I asked the question earlier I said I don't want people who have already chosen a market and done deals in other markets this is for the question this is a question for people who've never done a deal before choosing their first market and you still answered do you remember me saying that I did I do okay so I'm going to jump off Lester because Lester is not um he answered the question based on him already doing deals so that's not a great person to answer that question so who does not have you've never done a deal but today you chose your Market if you are one of those people put your city in the side chat Casey says this man is Savage no I'm not Savage I'm just trying to make sure we stay on topic and if I ask you a question you shouldn't be answering it if you it doesn't pertain to you right is that savage or just trying to make sure that the people came in here to learn are getting what they need um okay cool I like all these areas I like them if I see somebody doing New York and you're starting out there I I really want to just pick a part and like understand why you would do that because what ends up happening again what's the number one reason why people fail what's the number one reason why people fail to get started or launched is because they chose they didn't choose a market or they chose a market that they can't scale inside of okay it's not lack of knowledge that they haven't chosen their Market I promise you the number one reason I see people not succeed is because they haven't chosen their Market okay cool who has not chosen their Market okay Caroline says me let's let me go to Caroline let's see what's going on well hey Caroline do you know that you are logged in about 45 different times in here in like 45 different names I just typed in your name and it's like you have 45 different logins I don't know um Okay so Curry Dad let's pull up car Dad Caridad I hope I'm saying that right I probably am saying it wrong hi yeah sorry about the background noise yes oh it's okay how do I pronounce your name can I do that okay what Carrie for short Carrie where do you live New York City oh so this is why you're having a hard time uh yes okay so Carrie Dad when you go look for a property do you think you're gonna go and knock doors is that what your strategy is going to be so if you're if you are knocking doors I would choose if you're like I know I'm in an outdoors I know that's what I'm gonna do which 99 of people fail at even though it's a great strategy people just don't are not consistent I would tell you to choose your own Market because you're not going to be knocking doors which requires physical proximity to your the houses then you could pick any Market besides so is there anything on top of your mind that you're like I would like to go in this market anything top three top two top one uh probably Georgia I have family in Georgia what part of Georgia um Buford and cummings okay I like I like both of those markets I like both of those so pick one of those and that's where you start for the next six months okay okay thank you because you can just as easily call in Georgia as you can on New York properties right yes so what it doesn't really make a difference right I wouldn't think so okay cool so you got your Market thank you awesome Okay cool so anybody else leader Jay Rich says stay in one market for six months yes if you're brand new right can't you have a contract written so if it's a if it is a problem Jesse I don't know what that means Jesse you're logged into two different names just so you know Jesse how you doing hello Jesse Jesse you there hello can you hear me I can hear you what was your question about the contract I'm sorry yes oh what I'm saying is that I know in different markets there's problems with the landlord situation that's why I was referring to can't you draw up a contract or can anybody draw up a contract where where it's safe for the the uh the bot the buyer or the person or the landlord that that as a contract is drawn up as so it won't be a problem for uh tired of renters or whatever the case may be I'm trying to explain okay so what you're actually asking me is you're saying hey the state law or the the law says that I cannot evict somebody so I'm going to change what my contract says so I can evict somebody yeah if something happens if I'm tired of the no that's the reason it's called a lot you can't it's kind of like if I um a police officer hey police officer I know your speeding limit was 45 but I have this written contract that says I can speed at 65 and not get in trouble like I can't change the law right um so if I have landlord laws what good is a law if somebody can just draft up a contract and go around it I was just I was just asking that's that's I I understand I'm asking a question I'm asking you a question so we can get to the answer yeah I get it I get what you're saying so is the answer yes or no yes what good what good is it what good is a law a state law if I could just bypass it with a contract with my tenant is it a good Contra is it would that work or would it not work it won't work there you go Daniel says contracts are void if they have illegal Provisions great answer good question Jesse so no I can't guys I can't get around the state laws okay um you cannot get around the state laws it's a two-hour drive away from a market a bad choice let's let's talk about this for a second what's the mindset of you guys that wants to be next to the properties so badly why do you need to be next to the properties is it because there's this limiting belief maybe that you need to be next to the property like all are all of a sudden you're a plumbing expert or electrician expert like you're gonna go and change out the toilet yourself comfort zone okay cool um cool Sam says I am I guess is that but is that a good use of your time let's say that hypothetically you already Ingrid Hernandez one of my leaders just broke one of my rules Ingrid shame on you do not put your contact information in here um can't trust a property management company I love that ever bahina you are a future seller of mine on a tired landlord list ever begina how you doing hey what's up pace do you want to just every time you find a deal you want to just sign it over to me because I already know I'm gonna buy it in 15 years anyway you got it do you see what I'm saying like the reason why I get what is a land what is a tired landlord ever other than somebody who says I can't trust a property management company I'll do it myself yeah yeah absolutely right so they they never learn the the task of Delegation and so what they do is they end up just doing it all themselves and then 15 years later I'm cold calling them on in an elephant challenge 20 40. and I'm buying their property they're like yeah dude I'm burnt out I hate this property I hate my tenants Etc so that is a skill that you do have to acquire but somebody that's in here okay somebody that's in here don't you think it is a different demographic of people that are in here they're like I am going to learn how to manage my properties I am going to learn how to find the right property management company right oh absolutely so ever that's a good statement I like it thank you for that I just want to let you guys know that the people that are sitting here going well you know what I don't want to I I can't trust a property management company that's a limiting belief I have nothing but property managements okay Tanisha says I manage several of my own out of state let's ask Tanisha a question okay Tanisha by the way her name is Tanisha Spencer now she's recently married Tanisha how you doing hey hey how you doing my brother I'm good good to see you hey Tanisha is there a big difference between the properties that are in state for you and the ones that are out of state or is it basically the same actually to be honest with you the ones that are in state are the ones I'm more tempted to go look at so I actually prefer the ones out of state because it forces me to think like an investor as opposed to thinking like somebody that has to go and try to do everything myself okay so guys write that down okay listen to that she says I am more tempted to go waste my time on properties local to me than the ones that are outside of the state that's the right mindset so what happens is I'm forced to find a good handyman I'm fi I'm forced to find good Resort resources but when it's down the street for me I take the easy lazy route and I end up going and talking to my tenants and they get to know me and all these stupid things okay Stephanie's so stupid yeah but I think we all started there you probably started there thinking that you wanted stuff close to you right I did and then I bought four properties in the state that I've still never been to and it changed my mind immediately okay cool so there you guys go right Tanisha has been in our community for what you've been in sub two for two years almost three almost three okay great so um and I was texting you on the plane the other day I was like what are you working on what do you have going on I was just thinking about you and I love the mindset that you have that's such a good mindset especially somebody that I would assume Tanisha you are a list a little bit more of a risk adverse person okay so you've you've fixed and harnessed that mindset of I'm okay owning properties outside the state to the point where you're like it's actually better for me to own outside of the state even though you are a risk adverse adverse person naturally well I am super super grateful but yes and now the ones even in state I constantly have to tell myself act like they're not here so that you can pay somebody to go do what they're good at so I can do what I'm best at there you go love it are you out driving around right now I'm going to pick up Milo from basketball right oh sweet um guys give Tanisha Spencer congratulations to side chat I was just at her wedding in Virginia the other day Richmond Virginia is a great great a beautiful wedding congratulations you're welcome and by the way Tanisha has a great YouTube channel if you guys want to learn midterm rental stuff go look up Tanisha Epps on YouTube she's amazing okay what if you're hired What If you hired your in-house proper Mark okay cool is this okay we don't we don't need to zoom through stuff we can go slowly and make sure people understand this I want to make sure that everybody chooses their market today um Martin how you doing hey Pace I'm doing good and yourself good I don't understand the question quite so like what if you were harder hire your own um like because I know you had to hire like property managements and they take like some percentage out of your you know uh commissions and stuff but what if you hire like your own you know person to take care of all your uh properties um yeah I I have that now um if you guys want to see here let's let me switch this up real fast um so I have that now my my here's what mine looks like okay my team looks like this and um this isn't right away this takes a while but I would say for the first three properties maybe five three to five properties you are going to do everything yourself okay after that your team should look like this it should be you hire a property management company I use a company called mind property management and they're in all 50 states you guys can look them up and they manage all of my single family properties okay then after you get to probably 30 to 50 rentals which is a lot most people will never get that in their lives but once you get to that point you now have pace then you have an asset manager and an asset manager depending on how big you get okay and they then manage the property management companies like mine and this person's in charge of let's say a 500 and this person's in charge of 500 so every time you get new 500 you get another asset manager okay and they're basically overseeing what the property management company's doing so that's where I'm at now but when you first when you first start you just do it yourself for the first three to five so you pretty much get everything out of your hands if the property management has to go through you they just go through your assets yeah like think about this do you think that Elon Musk could scale Tesla Tesla if he just um you know put all the tires on the car himself yeah definitely not okay so are we trying to be big business owners are we trying to be little baby business owners big business owners okay so big business owners reverse engineer does a big business owner have anything to do with any of their rentals no just collect money right I don't even do that I I don't I don't collect any rent I don't do I don't know one of my tenants names zero zilch is not a nothing absolutely nothing so in order for me to do an elephant challenge with you guys and still have thousands of properties it doesn't make sense for me to be involved I don't collect money now what I think what you're saying is you're like yeah you just collect a paycheck yeah um Roy says how much is the overhead Royce telling you that question Royce will not help you in your journey whatsoever it'll actually demoralize you if you knew how much money I pay in overhead but that's a good question Martin good question good question um should we stay away from locations prone to high natural disasters yes so coastal towns you try and stay away from all of my coastal areas are getting Insurance bumps that are actually really really scary okay Pace you mean we need to manage the first three to five properties ourselves no Anthony I would suggest you don't here's the mindset problem the mindset problem is what people think oh Anthony would you you change your a n t h o n y okay there we are Anthony how you doing man hey sorry about that can you hear me oh I can hear you great yeah thank you so much so um you're saying should I should we no here's the problem you're on a free webinar right there's no I'm not selling anything there's nothing I'm trying to make money on I'm just giving you guys value so the challenge with this is that I'm I'm speaking in generics which means I'm making advice for 1600 people simultaneously rather than picking you out individually based on your current mindset I can tell you the problem is with most people is their problem is their mindset and so I can give you advice all day long but then you're afraid to take action on that advice because it doesn't it's not in tune with you okay so there are going to be some people in here that are the skittish folk the I'm in a I'm a Miser I'm Gonna Save every penny type of people right if I tell them to go hire a property management company right out of the gate they're not going to do it anyway okay you see how hard this is you got to have like individual time with people to actually have these conversations right so for me if I could go back I would never this is an interesting mindset thing maybe write this down for everybody I would never have planned on living on my cash flow ever in my life Maria says why are we even talking about property management well Maria we're trying to talk about the laws of evictions and these types of things so that you guys can choose your Market okay do you still use Airbnb yes I do I we've gone a lot a long way away from it okay so Anthony are you a miser or are you somebody that's like I a miser or somebody's like squeezing a penny out of a penny I'm definitely more risk seeking I'd be okay with the property management company okay here you go so here's here's the thing guys owning rental properties is for a lot of people that are starting out it's like I want to own 10 properties uh Caroline King can you do the same illustration for a wholesale operation yes I'll get there tomorrow I'll be breaking down a whole wholesale operation here in a little bit um also Angel Ortiz says what is a cap rate don't ever learn what a cap rate is it's a waste of your time um I see management companies are less risky to be honest yes so write this down I want everybody to write this down this is something that's very important for you if you plan on quitting your job based on your cash flow okay you'll never quit your job what most people do is they have this goal of I'm going to get 10 properties okay wait no cap rate okay now I'm lost let's jump on that for just a second Zoom user I really wish I actually knew your name change your name please if you guys have zoom user as your name in Zoom then you're you got to change it okay so Anthony you're like me I want to build wealth people that go and buy 10 rental properties and they go I'm going to quit my job now that I have 10 rental properties because now I have three thousand dollars a month guess what they now have another job and they're made they're they're working for that job at three thousand dollars a month because it's you know three to five hundred dollars a month cash flow times 10 10 properties for me I always tell people don't quit your job keep compounding and stacking until you get to a point where your cash flow is actually what allows you to buy the next two properties and the next two properties the next two properties next two properties don't ever plan on buying a property and living on the cash flow buy the property take the cash flow and use that to buy the next property the next property the next property it's a different Paradigm a different mindset different everything and not everybody's going to want to adopt that some people in here hate their job so much so there's somebody in here right now think about this see uh the there's some people in here that are like my husband is abusive I can guarantee you there's somebody in here it's like my husband's abusive I hate my job I need to get four or five rentals so I can just go and live out on my own totally get that understand you got to make your own individual goals okay so there Luisa says there that's me I've got a I've got an abusive husband I got a bad job I hate I just want to get three or four properties so I can quit okay I hate my job all right go ahead Anthony I was gonna say I just joined your your Gator lending program as well and so I was planning on kind of going both to the wall on that to try and create income throughout those uh strategies so guys here's the thing you have to understand you guys need to um always have a job you're always going to have a job active income you need to have active income active income is you should have that all the time and rental properties is not active income it's passive okay stop with this I'm going to quit my job just change your job go get a different job keep your day job or switch your day job okay invest in real estate on the side or do at create active income with Gator or active income with wholesaling or whatever wholesaling is another job just FYI and I am going to teach you guys a lot of wholesaling stuff tomorrow but the main thing I want to do today is just make sure everybody has their Market pick that's the main thing we're trying to accomplish today okay Juan Barros says so Anthony your risk of your risk tolerant like I am yeah don't ever don't ever make it a goal make it a sense of Pride to say I don't know a single one of my tenants I've never taken an application I've never screened somebody I'm not involved at all absolutely that's in my opinion the only way to become worth 10 20 30 million dollars is to have that goal from day one yep agree okay absolutely there you go so a lot of people are like I'm gonna get my cash flow and I'm gonna you know quit my job it's like don't quit your job okay get make sure you always have an active source of income okay I have a question about picking your Market how specific should it be should it be based on your exit strategy Alex Garcia I have not talked about um my exit strategy so you're creating questions that don't really uh matter right now Alex Alex what's your what's your strategy hi bass hi so I am thinking uh of doing wraps and I already have my market I live in San Antonio and I buy properties in San Antonio but I guess what I'm trying to say about uh San Antonio is a great rap Market by the way it's great oh nice that's good to know so most of the people that I know here in San Antonio that do wraps they buy uh properties on the cheaper end so should that be considered part of what picking a market is all about should that be considered part of America like San Antonio cheaper Properties or just in general San Antonio yeah um say that question again so when I'm choosing my market for example San Antonio is my market but most of the people I know who do reps do it on properties on the cheaper end because they're easier to wrap should not be part of my market should it be San Antonio uh or cheaper and properties if I'm planning to wrap for that yeah and so what we'll talk about when we get into strategy on day two or maybe day three we'll get into we'll get into talking about strategy in that individual Market because same thing for me in Phoenix Arizona I don't go after seven hundred thousand dollar houses in Phoenix Arizona I go after the median household price of the as the ARB or lower so that doesn't really pertain to the market question because you're really just going to focus on um you're just going to focus on a market and then the median household price in that specific Market every Market has a median household price right right okay so San Antonio's fine okay so when we get into your overthinking is what I'm basically saying Alex you're overthinking it thank you I do that a lot yeah can I tell you guys why you are while why you all overthink here's why you guys all overthink what I find is that most people have been told what to do their whole life okay they have been told by their parents what to do they have been told by their siblings what to do they have been told by their nine to five job their High School teachers their college teachers they've literally been told what to do you even get to the point where um yeah Justin mcgaine says Hey I just quit my job my funds are back are low and I don't recommend that guys I never you'll never hear me tell people you'll never ever ever hear me tell people to quit their job I'm the opposite I tell people keep your active income investing is something you do on the side land buyers Nation says overthinking is a big problem the problem is actually where you got the overthinking from is that somebody's told you what to do your whole life literally told you what to do your whole life even still to this day your husband your wife your spouse your roommates your job they not only do they tell you what to do they also tell you what not to do all day long okay so what happens is now when you have to go make a decision on your own and somebody's not telling you what to do you go I'm lost no you're not lost you are just used to not making decisions on your own that's it and you should change the wording to that Teresa how you doing you said you were lost let's change our wording a little bit Teresa how you doing Teresa Clark you are unmuted you could talk hello can you get me one I can hear you okay say that again I'm sorry so my mom's watching TV I'm sorry oh don't worry you said I'm lost so tell me what does that mean specifically well I picked his in Texas and then you said not to get too close to the coastal because I actually said I did not say that what I literally said are you there Teresa yeah I'm right here okay what I actually said was don't do coastal cities right is Houston really a coastal city Houston's actually not on the coast Houston has Galveston on the coast and all those other cities right so if you're like North Houston in The Woodlands how far away is that from the coast 100 miles 200 miles I really don't know okay so you chose Houston I have properties in Houston I love Houston I think it's a great place just don't be on the ocean that's it just don't be on the ocean okay then I'm gonna stay with my first choice because then I went back and looked at the the map and I picked Nashville for my next one and I was thinking okay what about tornadoes and I was like forget it I'm just gonna say with the first one that's why I lowered my hands yeah you you um stick with your original thing Houston's awesome I love Houston it's a growing awesome Market great politics um no you're good thank you so much for all the information I I did do this and picked Texas about a month ago and I just been sitting on it because I didn't know the next step so this is awesome interesting so you don't know the next step so we're going to solve that tomorrow okay right okay great so you you've got Houston great tomorrow what we're going to do is we're going to give you the next step and we're also going to put you in touch with people that can actually help you there okay awesome thank you cool no problem um who has not chosen their Market at this point who has not chosen your Market okay now here's what I want I want I want to hear why you haven't chosen chosen your Market that when you say me I want you to tell me why you haven't chosen your Market I've given you the information and if you are still having a hard time choosing it it means you're overthinking so I want I want to know let's go to somebody Brianna how you doing whoa hey Pace can you hear me I can hear you hi uh okay so I'm actually a sub 2 student okay and um I have my market um in a sense so this has I don't I don't like when you say that okay because you think I'm off subject because you asked who hasn't correct no if you say I have chosen my market in a sense I don't like that okay so this Zoom has had me kind of asking some questions and I I want to hear your advice um and I think this is something that a lot of people are struggling with um in just kind of giving more info like more encouragement to those who are kind of stuck in a market that they know is bad for them um Caroline Kane she said in the chat earlier it's like you're you're being coached and it's and you're like having a hard time so me and Washington it's my home I have sentimental ties to it and I know you're being very general um so it doesn't mean I can't do this Market but I think it'd be really helpful to kind of give a little more encouragement of like how to detach yourself from a market that might not be good for you in the long run if that makes sense okay um I'm gonna use a really bad analogy but okay what you're what you're saying is you already know you have a mindset issue and you're asking me to fix your mindset even though you already know you have a mindset issue right it's like it's like trying to take this sense it's like trying to take the sentimental and the emotions out of your decision making okay cool it's in my opinion it's like Sherlock syndrome do you know Sherlock syndrome is no Sherlock syndrome is a phenomenon when somebody is um kidnapped or they're abused by the person who um kidnapped them or maybe if it's even a husband that is abusive to a wife you the justification for not leaving the person that has abducted you or abused you is because you've actually fallen in love with a stock I'm sorry it's called Stockholm Stockholm syndrome I know okay Stockholm Syndrome sorry um I do have covet I am sick and I still showed up today so forgive me for saying things no you're doing great okay so so you basically are telling me straight up I know this is not a great market for me to have as a rental market but I love my state what does that have to do with your state like why do you have to invest where you love like why can't you just live where you live and enjoy your life where you love and eat great food where you love and all of those things why do you have to invest there like actually in my opinion why is that it's actually a downfall go back to what Tanisha said what did Tanisha say she says the properties that are easiest for me to manage are the ones that are outside the state you will give her more work right so why why do am I saying Seattle sucks yeah oh I love it there the food is some of the best food I've ever had the people are amazing a lot of great history in Seattle it's beautiful weather it's unbelievable I love visiting Seattle but do I need to invest there no you do not so what does your love for your city have anything to do with where you buy rentals obviously fear but like control for me I don't tend to be an overthinker I thought but control is something that I'm I'm looking into right and and trying to realize that control is not necessarily what I what I've been raised to think it is right I think if it's here then I have more control um because you're really good at like electrical work you're really good at Plumbing you're really good at painting and all this stuff no I'm not not none of those things face so if you have a if you have a problem on the property here in in Washington you're gonna have to call somebody right absolutely okay so what does it matter if you're at the property or you're not at the property you still have to call somebody to fix it right absolutely and I think this is why I was drawn to the mentorship these are like really just real but hard things to accept and you kind of just give it straight because you're right like I'm not gonna go in there and I'm not gonna fix it myself and Tanisha does it too like Tanisha Spencer she totally manages from afar so I think this was very helpful just like yeah and the other thing too is like you're gonna you have friends in other parts of the country right inside of sub two absolutely like Brianna I you don't strike me as somebody who wants to go in wholesale uh no okay it's yeah isn't it interesting how we can tell that in a conversation absolutely I'm I want to buy and hold which you know Washington isn't really one you recommend for that yeah but Washington's beautiful right it is I it's mostly my family you said it in your get started Zoom once you said the only thing that keeps people in bad places is kind of like two things and one of them was their family that's literally what keeps me here okay cool are they going to help you fix up the properties probably not very helpful so why do we have to have our family in the decision we make to buy property absolutely my husband is in the background like like babe I thought you were sleeping yeah of course yeah in fact it's probably better that your family is has nothing to do with understanding where you have rentals and all of those types of things what I find with my family on my properties in Arizona is I'm constantly giving people favors and helping people out hey empty properties those types of things your family should not be involved in any of your business decisions you already know that your state hates landlords you already know that you listen to the news you hear about all these rent controls and all the things there you already know this like I don't need to tell you this you already know it my question is you're like well can you disconnect that feeling for me my thing is that connection should have never been made in the first place in your mind right like you and your husband can live wherever you want eat wherever you want all of those types of things this your state is amazing for that but why can't you have a business especially in 2024 where technology is so powerful and amazing why couldn't you have a business anyways wow absolutely yeah definitely okay so where would you go um you know I actually am learning with the team who's hitting Texas right now and I connected with them through your sub 2 Community when I joined whose community yours I don't I I I don't call sub to my community who's who Community is it our community there you go or or you could also call it tanisha's Community one of those two okay so Texas is a great Market I love it um one thing I don't love about Texas just FYI is I don't love the high property taxes it's like probably third or something in the in the nation um so I don't love Texas for that specific reason um I'm actually slowing down on my Texas purchases because here's what's happening with my Texas properties as my rent goes up my taxes are also going up and so it's like a wash like oh okay let's go raise um our rents 200 a door and then all sudden my taxes go up like what the heck man I didn't get my bump I didn't get that thing so Texas the only downfall to Texas I love the laws I love the growth I love the ability to do business as an American what I don't love is my my taxes are going up and my insurance is going up also on my coastal city so I would say stay away from Corpus Christi stay away from like Galveston stay away from anything that's directly on the water okay um so other than that Texas is really really great it will continue to grow text isn't gonna isn't going to slow down it could be a country all on its own with the natural resources another I I in my opinion the best Market in the nation to buy and hold properties is North Carolina and South Carolina now there's like 20 other states that are a close second to those but North Carolina and South Carolina are growing abundantly they have some of the best colleges like look at North Carolina they have great education they have great everything the migration was people leaving California people living leaving New York and New Jersey people leaving Seattle were going to North Carolina it is beautiful the people are super nice a lot of growth a lot of job opportunities it's not too cold that's another thing that I stay away from too is I stay away from cold markets I don't want like you guys freeze over in Seattle and I've I've had to turn my four-wheel drive on in Seattle to get through your your city um Christmas two years ago I did I was like in four-wheel drive in Seattle I was like oh my gosh so I don't want to be in markets that are cold either why would I not want to be in a market that's cold um well I mean just one example if you're looking to do like short term or anything people aren't really traveling there during that time or so good great answer what else people tend to move away eventually or typically Winters are really hard on the properties right so you're gonna have a lot more repairs um the other thing is roads get shut down there's all sorts of slip and fall lawsuits in those types of states um another really big thing is that you can't get contractors to work in the cold so if you want to paint a property or you want to do landscaping or there's you know new windows or new siding or whatever else everything slows down in Winter areas yeah that's actually really great because I'm in weddings right now and I only get to do weddings half the year if not so think about that if I was going to be a wedding venue specialist would I choose to go to Montana where it's freezing half the year nope cool so it's the same thing with your your PR your wedding venue business if you were going to open a second location with me would you SEC create the second location in Whiting um I don't whiding I don't know whatever City you just said I don't know the name of City you said you're you have a wedding venue location somewhere oh no no sorry I I have a wedding business I'm a planner okay sorry what but you said what city was did you say it's in yeah Seattle area okay so great so half your business is shut down half the year half the year yep okay so could you not kind of identify that also with real estate like your your real estate slows down half the year people aren't Airbnb like you said really great point um also repairs issues challenges people getting in wrecks all sorts of problems happen during winter States so if I'm building a portfolio long term there's a reason why there's this thing called the Sun Belt smile do you know what the Sun Belt smile is um I'm I have an idea that it's like on the Sun Belt states that there you got it I've never heard the term but okay we call it Sunbelt smile okay in the Sun Belt smile this is where the weather is perfect all your not perfect but you basically don't have seasonal issues oh my gosh it's called the Sun Belt smile because of obviously it looks like a smile where's that oh here it is right here so you're you're nowhere near there right nope so these are the areas that you're going to have no issues with people traveling around your wedding venues all sorts of stuff so I get we just had a sub two student come to me and go hey I want to create a wedding venue and we're thinking about doing it in Colorado anyway you what why would you do it they go oh well what about Utah if you're gonna do an American Wedding venue-wise number one Google Brianna sorry so Brian I'm turning off because I'm getting a lot of feedback I'm so sorry so the um guys there's a reason this stuff exists right it's for you to make better decisions and you want to own properties or businesses and areas that it freezes half the year just like Brianna said she says that I can't do wedding planning half the year okay that sounds I'm this is going to sound really rude but that sounds like an intelligent business move or does it not it doesn't right so some of you guys are justifying buying in places okay and building businesses in places the half the year you can't even run your business doesn't make any sense and then you're also simultaneously asking yourself why can't I scale why can't I build It's like because you're emotionally tied to an area that only allows you to do business half the year okay well if your goals are smaller than mine and that's okay keep your goals small and you can be happy with it just know yourself write that down and say I got to know myself I got to know what I want Etc okay um last thing before we move on anybody in here feel like you have not chose your market yet okay just Sturgis that seems like a fake name okay guys I'm gonna can I be a little bit rude with you if you have still not chosen a market at this point after a couple of hours of talking about this conversation you have a you have an indecision problem okay you have an indecision problem Escuela how you doing you have an overthinking people have told me what to do my whole life problem yeah hey my name is sorry I can't change my name hey guys can we make it can we make it can we normalize having our real names as our Zoom names yeah okay what is what is your um what is your name again I'm so sorry Hernan a-g-r-n-a-n okay Hernan why have you not chosen your Market yeah um I live abroad and I am a seriously a considering investing in the US and I've been in many states traveling but and I have friends in in Colorado I have friends in Florida I have friends in California Wyoming but uh since what you have done what you have said I only have left two or three states but I'm I'm looking at all the deals and confusing there's deals everywhere in Alabama Okay cool so here's what he's saying he's basically saying I have too many options and I just need somebody to tell me what to do that's what he's saying okay pay attention to this for just a second so many people will live their life this way watch this this is so interesting I was one of these guys okay I was one of these guys I start out on day one and I've got a path this is how I started my life this line represents seven years and this is true from the day I said one day I will get started okay that's seven years from the day I started to the day and I would continually say one day I will get started one day I will get started one day I will get started now it didn't start out that way for heaven's sakes I didn't start out that way I thought it was um 30 days I thought it was 60 days I would get started okay but here's the questions I was asking the quality of questions okay I would say one day I'll get started one day I'll get started okay and then the next statement I would say is I would say I want to get started and I would never make an actual decision so at the end of seven years of doing this I was 23 okay there you go Roshana okay glinton Roshana Clinton says that happened to me for 20 years and essentially what I was doing is I was getting ready to get ready I was getting ready to get ready that's what I was doing for seven years and I would ask myself the question okay I want to get started one day I will get started now at the end of seven years how many deals did I have by asking that question zero okay interesting interesting interesting interesting so seven years I had zero deals here's the worst question after seven years how many skills did I acquire how many relationships did I acquire how many better questions did I upgrade to the answer also is zero I literally for seven years I was getting ready to get ready and after seven years of getting ready to get ready and overthinking okay and waiting for somebody else to tell me stuff and saying saying the worst words I could ever you could ever say I'm stuck no you're not you're not stuck you're just not used to making decisions yourself you've always had a mommy or a daddy Walt says how did you overcome how did some does anybody ever ask yourself how the hell did I even live this long by like how stuck I've been in my life you kidding me hey Zoom user will you do me a favor and not say Zoom user in your name I don't know what that means I don't know what that is please change your name okay Troy Bailey says that's my problem right there I'm stuck I'm stuck I'm stuck I'm stuck no you're not you're just used to somebody else telling you what to do all the time you're not stuck please tell me what to do just tell me what to do and I'll do it guys it's this is not a job okay this is entrepreneurship you have to you have to just do the things now here's here's how I overcome it okay ask yourself this question we already know what happened to this person right do we already know what happened to this person that was getting ready to get ready give me a yes do we already know what happened to that person Christina says just let me talk it out Christine I'll get to you in just a second okay we already know what happened to this person right okay cool so after seven years they've acquired zero skills zero anything you know what they've actually done is they've acquired frustration anxiety and more important they acquired proof okay evidence what have they acquired proof and evidence of is that they are not good at making decisions and so they just continue it's a self-fulfilling prophecy you've acquired proof and evidence that you're not good at making decisions and so you keep telling yourself these stories okay now what if pay attention to this what if for seven years I asked a different question okay the question was I want to acquire skills okay so one day I can achieve what if that was the only intention I had was I wanted to acquire skills like how to comp a property how to choose a how to choose a market literally if the only thing I did was I want to acquire skills how to comp how to look up properties how to fill out paperwork what if literally that was it but I still at the end of seven years had never done a deal which one would you rather be this is your problem you will see you will literally overthink everything because you think the goal is to acquire Capital the goal is to acquire skills that's the goal your goals are screwed up okay your goals are screwed up you're all we're trying to do is acquire skills okay Matt says I want all the skills that's it what if you never what if you never do a real estate transaction what if you never do a real estate transaction in your life but for seven years you actually acquired skills ironically it would be impossible for you not to get a deal so for seven years I asked the question of I want to get started in real estate that was my question I want to get started in real estate one day I will get started real estate instead of I would I should have been saying I want to acquire skills and I want to acquire evidence that I'm good at making decisions okay what if all the skills you're acquiring don't actually require you to lose any money or have a tenant what if your only skill is to learn how to submit offers what if that's the only goal that's the only goal is I'm just going to learn how to to submit an offer and that was the only thing you focused on first off you wouldn't be so anxious you wouldn't be upset you wouldn't be down on yourself you wouldn't be beating yourself up and saying this is taking me too long none of that okay that's why the elephant challenge exists is because it's there to help you guys get to a point where you're just acquiring one skills acquiring one skill so that being said should we be asking questions about well I have four ideas of what Market I should try and I need more help on which Market to try or should we just choose a market and go and acquire those skills in that market for six months does it really matter does is there is there something called a perfect Market yeah there is something called the perfect Market it's called the one that you will actually start in that's it okay uh um can't remember who was saying let me walk through it was it Christine who was that they said well I just need someone to walk through it with me oh Christina Colin okay without without an H all right Christina how can I help you hello hi face thank you so much yeah okay so my dilemma is I live in central New York Hassan Valley and I've done deals in my market a long time ago uh right now it's a seller's market and I so I moved remotely and I done deals in Indianapolis uh last year I done deals um seller financing and whatever and then I did one deal on Raleigh North Carolina but the problem is those two markets now are hot like you know there are sellers sellers markers right now so I was thinking to move to uh Greenwood South South Carolina um as a new market since it's a Market that you know it's not that expensive and it's not yet a seller's market so that's that's my dilemma I don't know should I continue in Indianapolis even though I can't find the deals that I found last year uh or just start a new market you stay in the market that you have you stay in the market you have relationships in that's what you do there's not a single Mark in the country that's going to be any different than what you're dealing with right now and what do I mean by that here's what I mean Christina do you want to change markets every single six months or nine months or 18 months no and wouldn't you say wouldn't you say that on being in a market that is changing every six months that you would rather acquire the skill of changing up how you look for deals in those markets your problem is prices are high everywhere interest rates are high everywhere every Market is hot right now right there's there is a lack of Housing and a lack of Apartments everywhere why is Greenfield and Greenville any different um I mean the rents hasn't increased that much yet so um it's like um it's Indianapolis like a year ago when I bought there okay so are you buying and holding or are you wholesaling primarily I I am buying and holding right now but since I don't have um I run out of money that's the true so now Christina Christina so now you got now we got a different problem okay your problem is you suck at raising money yeah I do that's true so isn't it interesting that that wasn't even your question this is like guys I'm telling you this is the biggest problem that I have is that people you guys all lie to yourselves you think you have a completely different problem that you don't even have your problem is you suck at raising capital and so you're like oh I'm just going to go to a different market so I don't have to learn the skill of raising Capital how about you just stay in the market you already know with the resources you already know and just learn the skill of raising Capital think about it if I'm gonna have to go into Greenville and spend six months building momentum wouldn't it make sense for me just to spend six months learning a new skill of raising capital in the market that I already do deals in yeah it makes sense how do you want to spend your six months running away from a problem or running into a new skill what would you rather do I me personally I go oh I suck at raising Capital that's my problem okay I'm gonna I'm gonna go and raise I'm gonna learn how to raise capital in my existing market and then I can continue to buy more deals the market is not your problem you are the problem okay now I'm having an issue with that partner that I got last year okay yeah okay got it this isn't friendship this is business right yeah okay so you're they're not doing their job or are you not doing your job which one is it they are not doing their job okay then why do you need to be in a partnership with them why don't you just say hey we're gonna own these properties together but I'm gonna go and do my own thing now I love you I appreciate you this has been great these properties we can own together I'm gonna go in to do other Partnerships what keeps you from doing that how you how you feel how you feel about bringing it up you can't bring that that conversation up is that the problem um no I I guess it's my mindset you know because I didn't have a good experience with this part and she was my best friend and that's why so guys do you see what the number one problem you guys have is you guys know and you hear this stuff you know you've Christina in your life have you heard somebody say don't partner with your friends you have 100 you have and you still did it yeah okay it's like when somebody says I'm still gonna use choose New York or Los Angeles even after I say that those are horrible places to start they're going to come into elephant challenge in 2025 and say I I know you told me to but I did it anyway and now I'm stuck Christina you the way you feel about something is what is guiding the your whole entire business your feelings are guiding your entire business how you felt originally with this partner is that they were your friend so you felt like you could trust them you don't have an operating agreement you don't have a partnership agreement and you don't have an agreement that shows how to break up am I making a safe assumption in saying that you are you're right so you've made all you've made all your decisions based on how you feel about something rather than actually just doing the right thing okay got it now you want to go to a different Market because if you go to a different market then you're running away from the problem that you currently have in the existing market with the existing partner that you don't like and you don't want to go to the partner you have now and say I'm going to do deals on my own over here or choose a different Mark choose a different partner because of the way you feel about having that conversation yes and then now think about this now you're coming and asking me for advice on what Market to choose based on rent rates and it has nothing to do with rent rates everything you're dealing with right now is how you feel no yes now that I talk it out you're right because I was I wanted to move to another Market a cheaper Market because you want to you want to run away from your business partner that you're having a problem that's what you want to do I didn't want to deal with Partners yeah okay I wanted to yeah you know this is interesting I was in Penn State the last couple of days and I had this like thing where I was stuck having a conversation with two people for like eight hours and it took about 13 minutes for me to realize what was really going on I said you're lying to me and you're lying to yourself you're asking me all these questions but that is not the actual question you're asking the question you're asking is something unrelated they're like no no you're wrong you just think you've been teaching so long that you know stuff I'm like okay oh all right anyway two days of having this conversation with this person okay two days with this person they finally came back to me they go you were right the whole time I was lying to you I was lying to myself I was asking questions that didn't even have anything to do with what I was actually worried about and I wasn't admitting what was really going on so here's the thing you want progress in your life right yes everybody wants progress that's it we just want to do more be more have more that's all we want we don't have to be billionaires and most of you guys don't if if somebody says to you I'm going to be worth a billion dollars most of you guys can't even equate that number even 10 million dollars even a million dollars if I said I'm gonna put a million dollars in your bank account most people don't even have the mental fortitude to understand what a million dollars even looks like okay but what they do is you spend all your time and energy running away from pain you run away from Pain the reason why you guys are not successful in doing deals is because you run away from the phone you run run away from discomfort you run away from having hard conversations with people and saying are you a good fit for me as a partner because I know I'm gonna work okay think about this okay if we were going to create a really amazing human being that could overcome anything withstand anything persevere anything would we tell them that they should avoid conflict and they should avoid problems or would we tell them that they need to go into conflict and go into those problems because that's what actually turns them into an amazing human being what I find is most people will work very hard to not work at all so what will happen pay attention Christina you are willing to work really hard to go open up another Market yes instead of just having a conversation with your partner yes well actually she's not revealed me to do more deals I've done more deals in that Market Indianapolis is just I didn't want to deal with the same problem that I'm dealing right now with her with another partner ran into the same issues so I would so my mom was saying go to another Market where you can put the money all by yourself because it's cheaper okay but okay got it so that you got a completely different series of problems right so and I can tell you guys that Christina I've answered your question hopefully that that helped out so I can tell you guys most of the problem that people have in getting into business is you're avoiding pain you're avoiding discomfort you're avoiding growth has anybody ever accomplished anything noteworthy by avoiding problems and by avoiding pain have you guys ever accomplished anything in your life without those things so why is it that as adults we literally go out of our way to avoid the pain don't we no exactly that the equation is going through the stuff and becoming a better person okay um there you go success doesn't come without the trouble yeah and I hear people say all the time oh it's okay if you make a mistake it's not okay if you make a mistake it is a requirement to make mistakes that is a different way of saying it it is a requirement again if the only thing you did different in your life was to say I want to acquire skills so one day I can achieve you would be way further ahead than you are right now okay so here's the thing that we're going to be doing okay and I'm going to wrap this up make a decision on your Market would you rather be the person that's asking the question today of oh my gosh I don't know what Mark into June oh my gosh or would you rather be the person that chose a market and just went and acquired skills in those markets which one would you want okay so choose a market who in here is still who is still deliberating over which Market they're going to choose okay Stacy Stacy this is interesting to me that even after that conversation you are still having a question in your mind of which Market to choose like there's a perfect one for you to choose I think that's can you hear me yes I think that's possible that I am I feel I guess I'm trying to weigh the like six different things and so I live in Boulder Colorado and it's got like it there's only 300 000 people in the entire County um it's dark it's light green it's like 13 increase in population if I move a little bit outside of that to Broomfield county or Weld County all of a sudden it's 32 increase in population but the entire County you know just has over 300 000 people now we've also got the issue that it's cold here so I I start to wonder you know I have connections in Northern California where I'm from like Chico Sacramento okay I see you shaking your head so forget that guys let's make a rule don't ever tell me you're going to choose the California New York Market I don't want to hear it okay well I you know I would I would prefer and this I know as a comfort thing I know the Boulder Colorado Market very well because I've rented here for 10 years okay I know this all right so let's ask ourselves this question Stacy thank you is the Boulder Colorado Market a market where I'm going to find a lot of people in foreclosure a lot of people going through painful situations or is that typically a market that's for the ultra rich Ultra Rich okay do we buy properties from Ultra rich people typically when we're looking for distressed sellers no okay so we can immediately get rid of that okay Boulder is not the market okay um Colorado Springs is great then the greater Denver area is great there are deals everywhere there there's amazing growth you could even wholesale land like crazy in Denver uh metro area because there's so many people that are developing and looking for land there's tremendous amount of opportunity there Fort Collins I've done a couple deals in Fort Collins great made 90 grand on one last year love Fort Collins these are all areas that are within driving distance of you if you're like hey I wanna I have resources I have things here um those are great markets now guess what I also have Angie milanazzo who's one of my leaders in the um elephant challenge in her team and her husband Dom are all there they're in Denver right so if you want resources don't use your family as resources because your family is not going to really help you in your business in fact they're probably just going to criticize you in your business possibly yeah that's the overwhelming guess who doesn't want you to make money in your life your family right they don't yeah they don't want you make funny money they are just going to be jealous of you and um that even when they feign that they're proud and they're excited for you they're really not I don't care who you are and how much your family loves you they internally they're human beings go go read the books of the book um the laws of human nature and read the read the chapter on jealousy worst person to do business with is a family member second worst is a friend don't ever do business with those two people so don't consider family members and and friends as resources find people that are in the elephant challenge like Dom and Angie milanazzo in Colorado they're close to you and join their team work with them they'll show you they're going to show you all sorts of things it's going to be great I'll show you this tomorrow use them as a resource okay okay well I so I feel good about doing Denver I think that yeah the size that you know the turnover all of that or or but that's very helpful thank you okay no problem family members suck just so you know all your guys's family members suck and um all your stupid friends suck too and guess what I'm talking to myself my my friends suck my family sucks they don't want me to make money they just don't they they want me to make money so they can ask for a loan that's basically it don't get your family members and um friends involved in any of these conversations okay Rose what do you got guys if you and also are you the kind of person that needs somebody to walk you through a market choice Rose what do you got okay so I don't need someone to walk into the market so the thing is I'm not in the states I am in Canada I know you keep saying that the you that the New York Market stock but let me explain to you I have my mother you just said I know the New York market sucks but okay I have I have like I have an explanation for you for my father-in-law you're already you're already you're already breaking every rule I just told you I know I don't want to talk about New York and you already are talking about your father-in-law immediately you've got two red strikes I don't want to hear I know okay so here if you have this time with me Rose let's use some things that don't have anything to do with New York and let's use some things that don't have anything to do with family are you already isn't it funny guys I I know you know I know it's like it's like guys think about this and you wonder why some people don't succeed because even though I will give you advice you will then reply and say I know but just so you know in my family nobody's allowed to say I know but if you know there is no but there is nobody if you know then there is no but you already know do we agree with this you will put yourself at a disadvantage because of the way you feel you will put yourself in a at a disadvantage because you're like I know that there's rules to this game but guys I already told you stuff so Rose I'm gonna unmute you if we have a conversation about New York or your family I'm taking you off the screen so let's come up with a different question how can I help you Rose Okay so one of the markets that I was looking at was Ohio um okay but specifically Dayton Ohio love Dayton Ohio I have yeah I haven't heard anyone talk about it it's between Columbus and Cincinnati I love it um a great Market we have a tremendous I was just in a I was just in Ohio a couple weeks ago uh actually like six seven days ago I love it I love everything about Ohio it's great okay great great politics good growth um there's a lot of resources there we have a lot of people in sub 2 and a lot of people in Gator they don't know Ohio you'll be able to tap into people very easily I love I love it choose Dayton okay I figured because it's between two bigger CDs people who are not gonna want to be like this is you're already overthinking okay okay um so but like the thing with me is that because I'm not from the states guys every anybody that's outside the states listen to me you freaking Canucks okay okay all you Canadians you think you you think you're there's some invisible line in your country to our country how is it any different between I I'm in Florida investing in North Carolina or Canada investing in North Carolina how is it any different because when people because the internet is more expensive or it takes three more seconds for the internet to like I don't understand the difference tell me the difference give me a legit difference please Rose okay I feel like when people hear that you're not from um like the states they're a little bit more closed off I like that's how I feel do you guys see how y'all just be filling up in here oh I shouldn't feel like that should you have feelings when it comes to business no okay and also I'm gonna give you a very simple a little simple solution here why are you bringing it up to anybody that you're in Canada when I make a phone call when I do an email when I shoot a text message do they know I'm from Canada because they hear my accent and be here you do not have a Canadian accent you have a Hispanic accent I I don't speak Spanish I see well you definitely don't sound like a Canadian I can tell you that right now does anybody does she sound like she has a Canadian accent yes or no look in the side chat if someone said Quebec and I am from Quebec you do not sound like you're from Quebec at all okay okay so thank you so much for taking the time I'm good I'm gonna tell you Rose here's another thing I get a lot there I had a lady in sub two a couple years ago and she came in I remember she was on this Zoom with me and she was um on the beach and she was crying she's like oh my gosh I can't do a deal because I'm Hispanic and nobody will listen to me because I'm Hispanic now I'm really nice to my sub two commute members I'm not barking at them like I bark on the elephant challenge but the biggest challenge the biggest thing that I deal with the elephant challenges mindset like people in the elephant challenge the from the free group they just have a different mindset okay so I go okay well how about this how about you just do what I tell you to do and if it doesn't work I'll give you ten thousand dollars and she's like really I go yep you have a guaranteed win you will I can guarantee you I'll give you ten thousand dollars even if it doesn't work but walk into every conversation full accent and then I see her three months later and I was like hey how's it going she's like I've made 150 000 people love my accent it's the best your accent is not holding you back I know I wouldn't think people don't love my accent because when I do speak when I do speak people love it and think it's very like exotic and dramatically okay so do you guys see what I deal with in the free group she literally goes from saying well people don't like my accent they think I'm from Canada now she's literally saying no I didn't say people don't like my am I crazy did anybody else notice that give me a yes if you guys notice that you literally flip-flopped you said everybody doesn't like my ax nobody likes my accent to now nobody nobody has a problem with my accent Rose I love you when I see you next give me a hug please give me a hug but the fact that the these are the questions that you have is the actual problem that you're having okay it is the actual problem that you're having okay you the overthinking is a lot of you guys issues James Ramos how you doing man uh sorry I'm doing well I'm I'm I love what what you're saying it just it's just a conversation it's pulling in a circle with rows right so can you kind of see hopefully you guys can see some of these uh common questions and overthinking is literally like when you get when I highlight somebody that's overthinking James does it not just make you realize oh my gosh I'm overthinking in my own life oh yeah yeah it certainly makes me think that way yeah yeah any anything that you are overthinking about in in your life James uh right now uh yeah like what's my next move what what where am I going to make my next offer where's your where's your Market Austin awesome awesome awesome so tomorrow we're going to show you guys how to do lead generation that's what we're going to focus on tomorrow okay so everybody's got their market and if you don't have your Market you're overthinking so just choose a market and here's what here's how you overcome it okay if you have three markets write down all three markets okay do me a favor if you have not chosen your Market type in the side chat the three top three places that you're thinking okay don't go on the side chat okay Jennifer Holdsworth by the way I'm going to say this again if you have not chosen your market then tell me the three places you are thinking in the side chat if you have not chosen your Market tell me the three places you're thinking okay cool here's what I've noticed everybody that's typing in the side chat right now has not put them in alphabetical order so what made you think to put the top Market first like Pennsylvania Florida North Carolina why not just go to PA Tucson Phoenix Louisville just choose Tucson the first the one at the top of your list is your Market we have now officially chosen your Market the one at the top of your list is your Market have we all now officially chosen our Market give me a yes okay now here's what we're going to do tomorrow okay pay attention here's what we're going to do tomorrow tomorrow we're going to get everybody on teams okay we're gonna get everybody on teams and the thing that we're gonna do tomorrow is we're gonna get you guys on teams we're gonna um we're then going to get you guys the resources we're going to call title companies and we're going to call buyers tomorrow that's what we're going to do tomorrow and I want everybody to do the same that's it that's all we're doing Melissa Bello says I have a quick question regarding Market Melissa I can guarantee you it's already been covered or you if you still have a question at this point you are literally just overthinking that's it okay so tomorrow we're going to just do a couple of things we're going to get everybody a title company we're gonna get everybody a buyer by the end of tomorrow does that sound like a good thing for us to all accomplish tomorrow yes same time three hours I went three a little bit long today but we will go three hours tomorrow those are the only things we're going to accomplish who's your title company and what we're gonna do is going to be really slow and why is it going to be slow because everybody's going to be doing their homework live okay we're not going to be giving you homework at the end we're going to give you homework live okay guys it's two o'clock Arizona time the only time that you will ever see me quote is Arizona time because we do not change our time zones okay so tomorrow two o'clock to 5 P.M Arizona time if you're like well what time is it in Arizona that's what Google's for okay all right so tomorrow title company and a cash buyer you're going to walk away tomorrow with a a title company and a cash buyer by the end of the day does that sound good okay awesome I will see you guys tomorrow at 2PM

Channel: Pace Morby

Views: 47,997

Keywords:

Id: El_r5fdz3UQ

Length: 183min 48sec (11028 seconds)

Published: Thu Sep 14 2023