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Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a BusinessThe Fastest Way to Get Rich in Real Estate!
Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a BusinessThe Fastest Way to Get Rich in Real Estate!
The Fastest Way to Get Rich in Real Estate!
Update: 2025-01-24
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Visit www.richdadpro.com to join the community!
Ever wondered how to start in real estate with ZERO experience? Meet Ty Downey—a full-time employee who decided to take massive action and dive into real estate investing. In just 64 days, he went from knowing nothing about wholesaling to closing two deals and making $14,000!
In this episode of Rich Dad Radio, we break down Ty’s journey:
- How he started with no money and no experience
- The exact steps he took to build a network of investors
- How one Facebook post opened doors to private money lenders
- Why cold calling was the game-changer for finding deals
- The biggest lesson for anyone looking to break into real estate
If you think you need thousands of dollars to start investing, think again. Ty proves that with the right mindset, mentorship, and action, success is within reach!
00:00 Introduction
01:05 Meet Ty Downey: The Hustling Investor
03:25 Starting a Real Estate Business
05:58 Building a Network and Finding Deals
09:23 First Flip and Learning the Ropes
11:31 Shifting Focus: From Flipping to Wholesaling
17:37 Tools of the Trade: Dialers and Skip Tracing
18:44 The Importance of Education and Mentorship
20:54 The Abundance of Capital for Real Estate Deals
21:39 Understanding the Target Market
22:30 Overcoming Financial Obstacles
23:26 The Importance of Quality Conversations
24:08 Building a Wholesaling Business
25:21 Effective Cold Calling Strategies
27:07 Breaking Down a Successful Deal
30:11 The Power of Mentorship
33:33 Achieving Financial Freedom
36:30 Final Thoughts and Encouragement
Ever wondered how to start in real estate with ZERO experience? Meet Ty Downey—a full-time employee who decided to take massive action and dive into real estate investing. In just 64 days, he went from knowing nothing about wholesaling to closing two deals and making $14,000!
In this episode of Rich Dad Radio, we break down Ty’s journey:
- How he started with no money and no experience
- The exact steps he took to build a network of investors
- How one Facebook post opened doors to private money lenders
- Why cold calling was the game-changer for finding deals
- The biggest lesson for anyone looking to break into real estate
If you think you need thousands of dollars to start investing, think again. Ty proves that with the right mindset, mentorship, and action, success is within reach!
00:00 Introduction
01:05 Meet Ty Downey: The Hustling Investor
03:25 Starting a Real Estate Business
05:58 Building a Network and Finding Deals
09:23 First Flip and Learning the Ropes
11:31 Shifting Focus: From Flipping to Wholesaling
17:37 Tools of the Trade: Dialers and Skip Tracing
18:44 The Importance of Education and Mentorship
20:54 The Abundance of Capital for Real Estate Deals
21:39 Understanding the Target Market
22:30 Overcoming Financial Obstacles
23:26 The Importance of Quality Conversations
24:08 Building a Wholesaling Business
25:21 Effective Cold Calling Strategies
27:07 Breaking Down a Successful Deal
30:11 The Power of Mentorship
33:33 Achieving Financial Freedom
36:30 Final Thoughts and Encouragement
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Transcript
00:00:00
This is The Rich Dad Radio Show, the good news and bad news about flipping real estate.
00:00:05
Here's your host, Brent Daniels.
00:00:10
Welcome back to Rich Dad Radio, where we're talking about the good news and the bad news about flipping real estate.
00:00:16
I'm your host, Brent Daniels, Mr.
00:00:19
TTP, Mr.
00:00:20
Talk To People.
00:00:21
And my job on this show is to bring you real life.
00:00:27
You know, sometimes I listen to podcasts and people are so polished, they're so put together.
00:00:33
They've been interviewed dozens, if not hundreds of times.
00:00:36
I want to bring on the people that are just getting started.
00:00:39
I want to bring on the people that have closed the deal and they've never been interviewed in their life because you know it's authentic.
00:00:48
And when you know it's authentic, it allows you the permission to give yourself that you can do this.
00:00:55
You can go out there, take massive imperfect action and start chipping away at your real estate goals, your real estate dreams, whatever it is.
00:01:05
And this podcast interview is absolutely incredible.
00:01:09
It's a real estate investor out of Wichita, Kansas, and I'm so excited to share this with you.
00:01:15
Check it out.
00:01:16
I'd like to welcome to the show from Wichita, Kansas.
00:01:18
Ty Downey.
00:01:19
Ty, how are you?
00:01:20
I'm doing great brother, how are you doing?
00:01:22
I am excited.
00:01:23
I'm excited because you right now are spending 100 hours a week working and I want to clarify this.
00:01:34
You have a full time job.
00:01:35
That's right.
00:01:36
You work full time.
00:01:37
You're putting in.
00:01:38
I assume an eight to five.
00:01:40
Is that right?
00:01:41
I work from 5 a.m.
00:01:43
to about 230 p.m.
00:01:45
on Monday through Friday and some weekends when needed.
00:01:49
And that's that's just that's just something that you've done for a while.
00:01:53
You've been in that line of work for a while.
00:01:55
Yes, sir.
00:01:56
That's right.
00:01:57
And then what do you do when you get off work?
00:02:00
I am full all gas and no break on the real real estate and the wholesaling.
00:02:06
So I go to bed every day, seven days a week.
00:02:09
I spent so many hours.
00:02:11
I spent so many hours in my home office yesterday.
00:02:15
Let's call it three o'clock on in the evenings and then weekends.
00:02:19
Is that right?
00:02:20
Yeah.
00:02:21
That's 100%.
00:02:22
That's yes.
00:02:23
Do you do have a significant other?
00:02:26
Do you have kids?
00:02:27
Is it just you?
00:02:28
You get to do whatever you want all the time?
00:02:30
What does that look like?
00:02:31
I am.
00:02:32
I am married.
00:02:33
And I do have some kids.
00:02:37
They live with their mother, my two younger ones.
00:02:39
Mostly the house is me and my wife, most of the time.
00:02:42
And she has, she's really been accommodating.
00:02:48
She knows where I want to go with this and I'm serious.
00:02:53
And she she's been a blessing just and I just can't thank her enough, you know, but while I'm spending all my time doing this and just wearing her ears out,
00:03:06
talking about it, she's taking care of all the other stuff.
00:03:10
Awesome.
00:03:11
What's her name?
00:03:12
Yeah.
00:03:13
Shout out to Diana.
00:03:14
Awesome.
00:03:15
Amazing woman.
00:03:18
So why why get into real estate?
00:03:21
I mean, you've got, you've got a job, you've got a career that's established.
00:03:26
I assume that you're making pretty decent income.
00:03:28
Yeah.
00:03:29
Why why get into real estate or was it not enough to make ends meet?
00:03:33
Tell me about that.
00:03:34
Okay.
00:03:35
So just always as a when I was young growing up, I always wanted to do real estate.
00:03:42
And I didn't even know really anything about it.
00:03:46
I just knew that a lot of the key people in my life had some, some kind of action going with the real estate, you know, in one form or another,
00:03:57
even if it was just like my godfather growing up, you know, he had like three or four rental houses, but even, you know, as a kid growing up, you see that and he lived on the nice neighborhood and he had a nice career and he had some rentals and just everybody was,
00:04:12
everybody had real estate in some way.
00:04:16
So I knew early in my life that I wanted to have some kind of piece of real estate.
00:04:22
And then you kind of, then I kind of grow up and do it adulthood and I'm, you know, working a bunch of jobs and kind of figuring who I am and all that.
00:04:33
And I would say maybe for the last two years, I really was just immersed in all the podcasts,
00:04:45
all the YouTube really gathering information, getting a feel for like if I can even do it, which anybody can,
00:04:55
right, if you're willing.
00:04:58
So I spent, you know, I probably spent a couple of years really diving into YouTube.
00:05:03
And then we're kind of starts getting serious is May, 2024, I started my company.
00:05:12
I registered in LLC and with the state and with the federal government.
00:05:17
And I like, I knew that was like step one and I, you know, and I was talking to some friends and different stuff.
00:05:22
So step one, LLC.
00:05:25
And then a little bit of time goes by that was in May.
00:05:29
We get to the end of the summer and August 26th, 2024.
00:05:37
There's a Facebook group here in Wichita, ICT real estate investors put on by Jason Lavender.
00:05:43
He's a local investor and he does the training and he does master classes and stuff like that.
00:05:50
So he has a free group.
00:05:52
So I've been a member of this free group for some time and I see the stuff go by my feed.
00:05:58
I didn't really feel qualified to like interact with these people that seem like they were pros and they were offering deals and buying deals and, you know, doing all the stuff.
00:06:08
Well, August 24th, August 26th, 2024, I put a post on there looking for private money.
00:06:17
Now I didn't even have a deal.
00:06:19
And I was very specific.
00:06:20
I said looking for $30,000 private money.
00:06:24
I got a pretty good response from realtors, from investors, from some hard money lenders.
00:06:32
And one person specifically was Amanda Jolly.
00:06:36
She owns, she's a realtor and she owns Lux living, ICT here.
00:06:41
And she reached out to me private message and she said, Ty, what do you need help with?
00:06:48
I'm available.
00:06:49
Whatever you need, I'll help you do it.
00:06:51
She goes, I flip houses to and whatever.
00:06:54
So within a day or two, we were meeting at a coffee shop.
00:06:58
And, you know, just blindly and I'm like, hey, my name's Ty.
00:07:02
I want to do real estate.
00:07:03
I have $0 in a dream.
00:07:06
She said, that's not a problem at all.
00:07:07
I can introduce you to all the right people.
00:07:10
And she did, right?
00:07:11
And so she would introduce me to four or five people and then they would introduce me to four or five people.
00:07:18
And to the point, I started making a spreadsheet to keep track of all the people that I'm meeting.
00:07:23
Right?
00:07:24
Because my phone is just completely packed full of people now.
00:07:27
Within, probably within two or three weeks, I had 150 people on my spreadsheet of contractors, hard money, realtors, flippers,
00:07:37
investors, all of it.
00:07:39
Right?
00:07:40
And it's just so, so my network just exploded like this.
00:07:43
And I was going to launch, I was leaving work and going to launch two, three times a week with complete strangers.
00:07:51
I would meet somebody to say like on Facebook or somewhere and I would be like, hey, my name's Ty.
00:07:57
So and so mentioned her name.
00:07:59
I want, you know, they said, maybe you'd be a good person to learn from when you have lunch with me.
00:08:04
And I'd go buy them lunch and, you know, everybody was, everybody in the witch talk community has been so generous, so like I am so appreciative.
00:08:16
So what I've experienced in the last six months, it's just been unreal.
00:08:21
I had a goal and I had a direction and every single person I met helped me get to the next step.
00:08:28
So it's really been amazing.
00:08:32
So I started, I started meeting a bunch of people.
00:08:35
So then I was like, okay, now my goal at this time is to flip houses, right?
00:08:42
I'm thinking, I'm going to flip houses, I'm going to learn how to do this and I'm going to make some money and figure out from there.
00:08:49
So I'm like, okay, so I met a hard money lender, Brady ciphers, ICT lending right here in town.
00:08:54
And he met again, he met me at one of the Starbucks and I introduced myself and my wife went with me, Diana.
00:09:02
So we met with Brady.
00:09:03
And I don't even know how hard money, probably I don't know, the terms, I don't know nothing.
00:09:09
He was very nice to explain things to me how they work, the loan to value and I went home and I submitted a PFS personal financial statement via email to him.
00:09:22
And he approved me the same day, he said, I'll lend you, no problem.
00:09:26
And so I was like, okay, so now I got an open checkbook, now it's time to find a deal.
00:09:33
So from the date that I met with Amanda, it was 29 days I had my first flip under contract.
00:09:41
Now that and I was calling, Brady, the lender, he gave me phone numbers for multiple wholesalers and other avenues,
00:09:53
so I took that list of like five or six wholesalers and I just started blowing them up, introducing myself.
00:10:02
Anytime there was a local like a meetup, I was there, right?
00:10:06
And I'm shaking everyone's hand and I'm asking them to launch, I'm doing anything I can, I'm just throwing myself into the community.
00:10:14
And so with that being said, I contacted one of the wholesalers that was recently met and so like I said, 29 days for meeting Amanda, I had the first flip under contract.
00:10:25
Okay, cool.
00:10:26
I was like, well, that wasn't that wasn't so bad, you know, I found one, let's move forward on it.
00:10:31
So I started, so I started getting contracted, but now mind you, I'm blowing up Amanda and Brady, I'm like, who do I use for a contractor?
00:10:42
Who do you use for roofs?
00:10:43
Who do you use for concrete?
00:10:44
How do you do this?
00:10:45
How do you do that?
00:10:46
And I'm just bugging the heck out of these guys and they're just being very, very helpful and helping me.
00:10:51
Thank you guys.
00:10:52
If you ever see this video, thank you.
00:10:55
So now I will say this, I still have that property under contract because it was tied up in probate, so so that that never executed,
00:11:05
but it will.
00:11:06
So 29 days got the contract, now I spend the next seven weeks looking for a second deal, right?
00:11:15
Because I'm like, okay, this one's stagnant, time to go on to the next one.
00:11:18
And I'm just, I'm walking properties, I'm analyzing deals, I'm running numbers, I'm just, Amanda's just running numbers, comps for me, and I'm just bugging the heck out of her.
00:11:32
Seven weeks, I go through that and I realize I'm like, the solution is to create a pipeline, right?
00:11:41
Instead of me depending on a wholesaler to bring me or have a property available, that's when I realized I've got to build a wholesale business that I can pick and choose from.
00:11:52
So then my focus shifted, I joined your group November 18th, 2024.
00:12:01
And I went through your training, which was like, I think it's scheduled for like a two week span or something, I had knocked it out in two days.
00:12:11
And I just couldn't get enough of it.
00:12:14
I took all your advice as far as like, I use a Mojo dialer, well, I started, I was using Propstream, I went to Deal Machine, I started making single line dials,
00:12:24
right?
00:12:25
And now, and then I'm not even like sure if my list, I'm like, I understand how the list works, but I don't know how quality my data is.
00:12:32
So I'm like, I'm trying, I'm kind of like fumbling through it.
00:12:35
So I reach out to another local wholesaler, Alex, thank you, Alex, do you see this?
00:12:40
He blessed me with a very good skip trace, highly motivated list.
00:12:46
He's like, I got so much that he now, this guy, he does 12 or 15 deals a month.
00:12:53
So he's got a lot of experience, he blessed me, he gave me a list, and I started calling it.
00:12:59
Now, from November 18th to day 57 from joining your group,
00:13:09
I was closing my first deal.
00:13:13
And then Wednesday this week, which would be, which lands on day 64 from meeting you on be closing my second deal.
00:13:23
Well, those were locked up in December, I think it took me from the time, let's do a deal breakdown at the end of this so that we can really get, because I really want to get into the nitty gritty of those deals,
00:13:34
like how you found them, what, what was going on, what was the motivation of the property owner, like all of that stuff.
00:13:40
But I want, so guys, something that I love about tie tie has this pull up your sheet right now.
00:13:47
Tie has this all written out.
00:13:48
He prepared for this with all of his timelines and his story and, and exactly, because it's got this beautiful analytical brain, but he also takes massive imperfect action.
00:13:59
And you see some people that are very organized, you know, sometimes it takes them a long time to do stuff because they want to make sure that they're perfect, right?
00:14:07
Before they make a call, they want to make sure that their scripts are dialed in and they know exactly how to overcome any objections and all of that.
00:14:14
And I's just going out there and taking massive imperfect action.
00:14:19
And to really pinpoint this tie, you posted to the Facebook group that you needed $35,000 for a deal that you don't have.
00:14:29
What gave you the intuition to even post that, and why did you post that specifically?
00:14:34
Why did you think that that, out of anything else that you could post, like can somebody help me?
00:14:39
I'm looking to get started.
00:14:41
I'm looking for this.
00:14:42
Why did you post that post and, and holy cow, I mean, it was the right one.
00:14:47
It exploded your network by just meeting Amanda and then all of a sudden it's dominoes start falling.
00:14:53
So why did you post that?
00:14:54
So I'm trying to, I'm trying to walk it back in my head.
00:14:57
So in my head, I was like, okay, I need to, now at the time, I didn't even know loan to value, how to, you know, private money.
00:15:06
I knew, like I knew what kind of a private money was.
00:15:09
I didn't know any of the details or anything.
00:15:12
So in my head, I was like, I was thinking, well, if I find a $100,000 deal, maybe $30,000 will get my foot in the door.
00:15:24
And then I would just have to figure out, then I had to, I knew I was going to have to convince somebody to give me $30,000, and I was also going to have to find a deal.
00:15:33
So you tell me you didn't have just $30,000 just laying around to do your first real estate deal.
00:15:39
So you either had to raise it, or you had to go out and find a deal, sell it to another investor and raise it that way, which is what we call wholesaling.
00:15:47
So for anybody that is, that just doesn't understand the term wholesaling, I didn't for a long time, and I had a real estate license for 13 years before I even knew what wholesaling was.
00:15:59
Essentially, what happens is there's a seller that wants to sell their house for cash and they want to sell it as is.
00:16:05
They don't want this property anymore, they want to get rid of it as quick and easy as possible, and then there are investors in town.
00:16:13
They don't want to go find the deals.
00:16:15
They want you to bring them deals.
00:16:17
They want a wholesaler to bring them deals so that they can just focus on running their crews, fixing up the property, doing property management, or flipping it for a profit.
00:16:27
So there's this beautiful middle ground.
00:16:30
And that's what we're talking about.
00:16:31
That's what Ty discovered when he was looking for deals for him to flip, he's like, wait a second, look at these wholesalers.
00:16:37
Who are these wholesalers?
00:16:38
These wholesalers are bringing these deals to me, but I want more deals, maybe I can go find them myself.
00:16:44
Yes.
00:16:45
And that's when you open the door to a different skill, a different business altogether, which is finding discounted properties.
00:16:54
And I am telling you guys, when you can find discounted properties on a consistent basis you win good markets, flat markets, down markets,
00:17:05
whoever can source the best deals wins in every market since the beginning of private home ownership, private real estate ownership.
00:17:16
You can find the deal.
00:17:17
It's just like in Rich Dad Ported, Robert Kiyosaki talks about how his first seminar, his instructor said, go out there, make 100 offers on properties to get one deal.
00:17:30
That's the same thing.
00:17:31
You need to take the reps to be able to discover the potential of properties, and that's what Ty's doing.
00:17:37
So absolutely incredible.
00:17:39
Now, you mentioned a couple of different things.
00:17:40
You mentioned Mojo Diler, and you mentioned skip tracing.
00:17:44
What do those things mean?
00:17:46
Okay.
00:17:47
So Mojo Diler, Triple Line Diler, right, it'll make three calls for you at once.
00:17:54
And it'll determine whether it's a deadline, whether it went to a fax machine.
00:18:02
If a voicemail picks up, you have the option to basically continue.
00:18:06
You could record a, you could have a set recorded voicemail that you just hit a button and it goes, or you could verbally leave a voicemail if you want either way.
00:18:16
So that, yeah, Triple Line Diler was a game changer, which again, I knew that that was the next step to the single line, Diler.
00:18:26
But all this was coming, it was still is coming out of my W2 job until these two properties paid that I locked up in December, which will be hopefully Wednesday this week.
00:18:38
But yeah, so I was, I was working on a very, very, very tight budget.
00:18:42
You know, a couple of two or three hundred dollars was a game changer for me, right, of extra investment, and then not knowing for sure if that was, if that was going to convert into profit,
00:18:53
you know?
00:18:53
So I mean, I took like even, even taking your mentorship, it was a man I really had to consider it because one thing I know that every person agrees is that always invest in your education,
00:19:08
always, you know, take, get a partner on doing this kind of stuff, get as many people involved as you can, and just ask a million questions.
00:19:17
So your mentorship, I was like, oh man, I don't know, you know, and then I was like, I think it's the right thing to do.
00:19:23
And I just pulled the trigger, man, if you ever pull up my conversations that I had with your guy on the phone, what's his name, Derek, huh?
00:19:32
Derek?
00:19:33
No.
00:19:34
Is there another one?
00:19:36
Zach.
00:19:37
Zach, if you have those conversations recorded, you will laugh your butt off me talking to Zach.
00:19:43
But you're right, you're tight, you're 100% right, you know, there's the old saying that the most valuable real estate is the six inches between your ears, right?
00:19:53
It's your brain, it's investing in yourself, you know, once we get out of school, that doesn't mean that the education's over, it just means that we get to choose where we're spending our time and the interest that we have.
00:20:07
And it seems like since you were little, you've had key people in your life as what you said.
00:20:12
And I wrote it down that have shown you that owning real estate really builds long-term wealth.
00:20:19
And you wanted to be able to do that and you got to learn the skills to be able to do that right, because you can get burned and you can make bad investments.
00:20:27
And so you got to be around people that, one, have a lot more experience than you, but two, will help reduce what we call the stupid tax, right?
00:20:37
The tax that we pay when we don't know what we don't know and we make decisions based on, you know, maybe other life experiences or what people are saying, but it's not the right deal.
00:20:48
And you don't want to, you know, make too many big mistakes in real estate because the costs are too heavy.
00:20:54
So I love it.
00:20:55
And one other thing that you said, Ty, that I think is really important for everybody to understand.
00:21:00
Listen to me here.
00:21:03
There is more money than there are deals, okay?
00:21:07
There is more money than there are deals.
00:21:11
Private money lenders, hard money lenders, transactional funding lenders are chomping at the bit for you to start a relationship with them and do a bunch of deals with them.
00:21:24
They want to give you money.
00:21:26
Everybody listening to this or watching this.
00:21:27
You need to understand this, you have an ocean full of capital at your disposal.
00:21:34
If you know how to find great real estate deals.
00:21:38
And that's what we focus on, Ty.
00:21:40
That's what we focus on.
00:21:41
We focus on how do we go out and find the best deals where we can solve the problem of the property owner, which is they want to sell this property with the least amount of hassles and the fastest amount of time.
00:21:52
And they don't want to do anything to the property, which is very different than putting your home on the market, going through appraisals, going through inspections, having home warranties, all this.
00:22:02
This is the 6 to 10% statistically of people in the United States that are in some sort of distress.
00:22:10
They have some motivation to sell that property.
00:22:13
Those are the people that we can serve.
00:22:14
We can't serve 94 to 90% of the other people.
00:22:19
But we target the people that we can really help out with the cash as is offered.
00:22:23
Catch them with an investor that has the cash and the experience to be able to turn that property into something special.
00:22:30
And those investors want to take the risk.
00:22:32
They want to take the risk of investing their hard earned money into these properties because they know that they can get a return.
00:22:40
Well, and I'll piggyback on that because for who knows how many years I thought money was the obstacle, I thought I was going to have to save $50 or $100,000 just to even get started.
00:22:55
And I'm telling you, I started with $0 in a dream and a work ethic.
00:23:01
And then I learned what the whole private money is a whole industry in itself, like that I wasn't aware of.
00:23:12
I mean, I could probably got six people I could text and have a deal funded, you know, today or tomorrow.
00:23:20
Whatever.
00:23:21
Yeah.
00:23:22
Yeah.
00:23:23
And so it's a product.
00:23:25
The money is a product, right?
00:23:27
Money has never, money has never been the obstacle.
00:23:30
It's only made up.
00:23:31
It's Fugazi.
00:23:32
It's fake.
00:23:33
That's something that we hallucinate.
00:23:36
What really is the first step is, is this a deal or not a deal?
00:23:41
Yes.
00:23:42
The first step is have a quality conversation with a property owner and make an offer.
00:23:46
But then determining, is this offer a deal or not a deal?
00:23:50
And then from there, once you learn that and once you have those skills, you are unstoppable.
00:23:57
That's why we have the rhino.
00:23:59
That's why the rhino is like our mascot is because you can literally be like a 4,000 pound charging rhinoceros once you understand how to find deals,
00:24:10
negotiate deals and work with the people that have the money to fund them.
00:24:14
It's awesome.
00:24:15
This is the best business ever, isn't it, Ty?
00:24:17
It is.
00:24:18
And I'll tell you, just in eight weeks time, I went from knowing basically zero about hole selling.
00:24:26
Yep.
00:24:27
To eight weeks later, I have two, two callers.
00:24:30
I have a transaction coordinator.
00:24:32
I have, which I think is a very attainable goal of at least two contracts a month for the next 90 days and then it then it increases from there.
00:24:42
Once we've got a proven system, we're tracking KPIs, editing, auditing calls, I'm doing all the things, right?
00:24:52
It's like, okay, you need to do this, okay, well, I need to figure out how to do that, but okay.
00:24:57
And then I just, I just keep, yeah, it's, it's awesome.
00:25:00
So it, thank you, you know, you got it.
00:25:04
I mean, listen, this only works if you do.
00:25:07
So I love that you took the instruction, you went and again, you took the massive imperfect action and that's what, that's what happens, it's progress, not perfection when we're going out there and we're making offers to property.
00:25:18
Or so let me ask you this.
00:25:19
I'm also there.
00:25:20
There they are.
00:25:21
There's your books.
00:25:22
Yeah.
00:25:23
Let me ask you this, what's your top strategy for finding great real estate deals?
00:25:31
Well, I mean, right now, right now it's cold calling is the way we're doing it.
00:25:37
I can tell you that I first was, I wasn't wholesaling, but I was, I knew at least I had enough sense to try to send some mail, mail letters out.
00:25:48
Yeah.
00:25:49
And man, that was costing me a lot of money.
00:25:51
I had zero systems in place.
00:25:53
I was just like winging it on some prop stream or deal machine list.
00:25:58
And yeah, that, and then when I talk to Zach, your guy Zach, he was like, I'm going to teach you a better way.
00:26:05
We're going to teach you a better way.
00:26:06
I promise.
00:26:07
Yep.
00:26:08
And so here we are.
00:26:10
You pull a list from deal machine.
00:26:12
You put it into your dialer, Mojo dialer, you have virtual assistance that you pay, how much an hour, seven dollars an hour.
00:26:21
And then one of the colors is my stepson and he's got the commission plus a little bit of money per week.
00:26:26
All right.
00:26:27
So they're making the calls.
00:26:28
They give you the leads and then you get on the phone and do the lead follow up.
00:26:33
You pre qualify and then you, you do the offer presentation.
00:26:36
Right.
00:26:37
So they, they work out in Mojo and then they, and then my CRM, actually, I use the same one as you follow a boss.
00:26:44
I saw it on one of your web, your zoom meetings.
00:26:47
Yeah.
00:26:48
And so I use follow up boss.
00:26:50
So yeah, Mojo, integrate straight over to follow up boss.
00:26:53
And then I take it from there, depending on the level of motivation, hot, warm, cold.
00:27:00
And then that's, that's a whole nother process, you know, then I got processes for that too.
00:27:04
Kind of.
00:27:05
I've got more processes for processes for the people under me than I do for myself.
00:27:09
So I'm just kind of starting at the ground and building things as I go.
00:27:13
Yeah.
00:27:14
Does that answer your question?
00:27:17
That's awesome.
00:27:18
So let's break down the steel.
00:27:19
How did you find it?
00:27:20
How much did they want?
00:27:21
What was going on?
00:27:22
What did you sell for?
00:27:23
What'd you make?
00:27:24
Walk us through it.
00:27:25
So I told you a little bit ago that my buddy Alex, very successful wholesaler.
00:27:31
He blessed me with a list that he had the geofencing, the credit checks, all the stuff.
00:27:37
I don't even know what all he did to it.
00:27:39
So I was calling off of his lists.
00:27:42
And, but, but there was quite a few that were I had in my deal machine already marked for filtered.
00:27:50
So long story short, I reached out to, we'll see which one was the first, the first one was the one on Morris Street.
00:27:57
And I couldn't get a hold of this guy and I just kind of kept trying a little bit and kept trying.
00:28:03
Finally, I got a hold of him.
00:28:04
Now, I think it might have been through a text message.
00:28:07
And then we had now this guy, I live in Kansas and he lives in Colorado.
00:28:11
So he was like, yeah, I want to sell the property and then, and then, like then he didn't return to text for days.
00:28:20
And so I'm hitting him again and I'm like, okay, obviously, he says he wants to sell and I can't, and finally I get a hold of him.
00:28:24
And he's dead set on $20,000.
00:28:27
He goes, now, my understanding is he had lived here at one point and he bought the house.
00:28:33
I think as an investment and then he moved to Colorado.
00:28:37
So the house was just sitting there empty.
00:28:39
So I'm like, what, you know, what's going on with it?
00:28:41
And he's like, go buy and look at it if you want to.
00:28:44
What do I do?
00:28:45
And the city has already got it boarded up, screwed windows, everything screwed shut.
00:28:50
And so I didn't go into it and said, well, tell me about it.
00:28:54
I'll make you an offer.
00:28:55
He goes, I want $20,000.
00:28:56
That's what I got into it.
00:28:58
Now I knew that was a risk.
00:29:00
So I told him very clearly, I was like, look, I'm an investor.
00:29:04
I said, I will contract you for $20,000.
00:29:07
But just know this, I'm going to present this to other investors.
00:29:10
And if it's, if it doesn't go anywhere, then we might not have a deal.
00:29:15
He said, okay, I can get a look and get behind that.
00:29:18
I just wanted to be transparent.
00:29:20
Sure.
00:29:21
So then, so I got that one locked up for $20,000.
00:29:24
And then I think it was just like, within, within a few days, I got another one locked up, cold, cold, cold, these people.
00:29:32
And this man that answered the phone, he owned the house.
00:29:36
And he was like, yeah, I want to sell the house, but I need you to talk to my sister.
00:29:40
And she lives in Oklahoma.
00:29:44
So I was like, okay.
00:29:46
And I didn't get a hold of her.
00:29:47
I called him back, like a couple days went by and she, she was there.
00:29:51
She was at his house.
00:29:53
And they just shot me an offer and they're like, yeah, we want to sell at $15,000.
00:29:58
I was like, when can I meet you to sign an agreement?
00:30:03
And so, yeah, so I got those two locked up.
00:30:08
And I am, I'm a little cautious because of how fast it happened because just like my first flip contract, you know, it was like it happened right away and then I spent weeks looking for the next one.
00:30:19
Anyway, but it's all good.
00:30:21
So I got them basically locked up for what they were asking, wasn't hard to negotiate, ended up.
00:30:28
So then, so to dispel them, I was like, okay, I do have access to buyers, but I'm not an established wholesaler, but my buddy Alex that I mentioned earlier,
00:30:41
he's got a huge buyers list.
00:30:44
And he offered, he goes, I'll give you a 730 split, 70 30 split in your favor, I'll help you dispel it.
00:30:52
Now he's been like a second mentor to me.
00:30:54
He's really kind of held my hand on a bunch of stuff, really helped me get through a bunch of processes because, you know, like you said, Brent, you said, find somebody local that can compliment the training.
00:31:04
So that's immediately what I did was I reached out to him and I was like, hey, man.
00:31:09
And I think, I think he probably didn't think I was real serious at first.
00:31:12
And I kind of kept pestering him a little bit and I would just shoot him text, text messages with updates.
00:31:17
You know, first he was like, hey, I need help.
00:31:19
And then he was like, Hey, I got a dialer and then he was like, Hey, I'm, and I'm telling him, hey, I'm just started making calls.
00:31:25
Hey, I hired Brent Daniels' service.
00:31:28
And then he's, he was like, okay, and then he, he just started helping.
00:31:31
Sorry, I got off on track there a little bit.
00:31:34
So he helped me dispel him.
00:31:35
We had him dispeled within a couple weeks.
00:31:37
The one on Morris had a lot of fire damage.
00:31:41
So that was going to be a, I already knew that was going to be a hard one that possibly nobody wanted.
00:31:47
Well, being the, being the awesome guy that he is, he was able to work him up into a package deal, $55,000 for the pair and,
00:31:58
and we got $35,000 into him.
00:32:02
So what that ended it, so that one closed last week and one's closing Wednesday this week.
00:32:08
So and you're going to net how much he'll get 30% all net 14.
00:32:14
And he'll make six.
00:32:16
Come on.
00:32:21
Oh, that is awesome.
00:32:27
That is awesome.
00:32:28
There's some crazy stats on, besides selling a property, the amount of people that actually receive five figure checks in their lifetime.
00:32:40
And it is so low.
00:32:41
I think it's only like 18%, 20% of people their whole lives ever receive a check that's five figures.
00:32:49
And you did it in your first, I think it was like six weeks or something.
00:32:56
Six weeks.
00:32:57
Box bubble from start to your program to close of second property is exactly 64 days.
00:33:04
Awesome.
00:33:05
Congratulations.
00:33:06
Thank you.
00:33:07
Right?
00:33:08
You're crossing the bridge, right?
00:33:10
And this is so critical from when we're getting started, we have so much faith that we can do this.
00:33:16
And we've looked at this and we built it up and maybe we have some self doubt and we've battled that and we push that down, but you have faith at the end of the day that it's going to work.
00:33:23
And then when you cross that bridge, once you see that wire hit your account or pick up that cashiers check from the title company or closing attorney, you're like, this is real.
00:33:32
I remember the first time that I held the check and I was like, wait a second, I get to deposit this.
00:33:38
This is mine.
00:33:39
This is crazy.
00:33:40
This is, I can do this again and again and again.
00:33:43
I have.
00:33:44
And you can do millions, millions and millions and millions of dollars a year, but it starts with closing your first deal.
00:33:51
It starts with understanding that it is a fact that you can do this.
00:33:55
And I'm just so happy for your tie, so incredibly happy.
00:33:58
And listen, small market, big market, it doesn't matter, right?
00:34:02
It doesn't matter.
00:34:03
There's always going to be opportunities in every single market.
00:34:07
And I really think you're in a phenomenal market.
00:34:09
I think there's a lot of buyers in Wichita.
00:34:11
I think there's a lot of opportunities in Wichita.
00:34:14
So keep going, man.
00:34:16
Thank you.
00:34:17
This is just the start for you.
00:34:18
For sure.
00:34:19
Yeah.
00:34:20
So these closings will enable me to push the gas a little bit more on the business.
00:34:26
That's right.
00:34:27
And your goal is to be in real estate full time by when?
00:34:31
Hard goal is December 2025.
00:34:34
Soft goal is July 2025.
00:34:37
Let's, let's, let's make that July.
00:34:39
Yeah.
00:34:40
You know what I mean?
00:34:41
Let's, let's, let's, let's get into this hustle season and really push it, really push it.
00:34:46
And remember, hustle is a season.
00:34:48
It's not a lifestyle.
00:34:49
It's not a lifetime.
00:34:51
It is, it is when you're building that momentum.
00:34:53
And I'm telling you, once, once that train's going down the tracks and once your lead generation, which is the engine of your train, is going down the tracks of your business, you are going to build that momentum and really do some amazing things.
00:35:07
And you don't have to put in 100 hour weeks anymore, 60 hour weeks anymore.
00:35:11
Now, I worked five hours a week in my business.
00:35:14
And last year we did 2.4, almost 2.5 million in revenue.
00:35:20
And I get to keep a majority.
00:35:21
I mean, I get to keep a good portion of that, wouldn't say a majority, but I get to keep a good portion of that.
00:35:27
And it's just phenomenal.
00:35:28
But I remember back in the day, Ty, I remember pounding the phones for hours and hours.
00:35:32
And sometimes all day, you know, we've got Eugene Latson, who last week was on the phone from 8 o'clock a.m.
00:35:41
to 8 o'clock p.m., talked to 275 property owners in 12 hours.
00:35:48
Like, that's what we need to really start going, to really start building a pipeline of opportunities.
00:35:55
And then all of a sudden, it starts snowballing.
00:35:58
And we start hiring people.
00:35:59
And we start replacing people.
00:36:00
And we start moving from the left side of the cash flow quadrant to the right side of the cash flow quadrant, where time isn't attached to our income.
00:36:08
That, to me, is the ultimate goal, is the ultimate goal to be able to build something that serves our community that I don't have to be involved in all the time.
00:36:18
And that I have great people in each role that will do better than me and each and every single part of it.
00:36:24
And that elevates your service level, which elevates your income.
00:36:27
Our income is equal to the amount of service we provide.
00:36:30
And that's the truth.
00:36:31
And if you ask Albert Einstein, why we're here, it is to serve other people.
00:36:37
And it's the absolute truth.
00:36:39
So, Ty, give us some final thoughts.
00:36:41
What would you tell anybody that hasn't done their first deal?
00:36:45
What encouragement would you give them?
00:36:46
And also, how can people reach out to you if they want to just say congratulations, or maybe they want to do deals with you in Wichita?
00:36:53
So Facebook, Ty Downey has got my picture on it.
00:36:57
That's the extent of my social media.
00:36:59
I got kind of rid of that when I started focusing on stuff.
00:37:03
But for encouragement, I mean, it's possible.
00:37:08
Whatever, you want to get into this game, do it.
00:37:12
Whatever you think is stopping you, go ask three or four people that are in the business.
00:37:18
And I guarantee you, whatever that thing is, it's not stopping you.
00:37:23
Me, as many people as you can, talk to as many people as you can, just like you're, talk to people, right?
00:37:29
Talk to people, talk to people.
00:37:31
You are, you are the, you are, or will be the average is the five people that you're surround yourself with.
00:37:37
It's a fact.
00:37:39
It is a fact.
00:37:40
And so, surround yourself with people that are where you want to be.
00:37:45
Just push your way in.
00:37:47
Be nice.
00:37:48
Be polite.
00:37:49
And they'll help you.
00:37:50
The last thing I want to say is the mentality of give, give, give that you got to have that mentality.
00:37:59
A lot of these relationships, and still to this day, I haven't been able to add much value.
00:38:06
But I know that I will, as soon as I can, I will always add value to the people that, I mean, to anybody, but really, the people that help you help them back, I mean,
00:38:16
it can happen.
00:38:17
You just got to do it.
00:38:19
Well, everybody starts somewhere, you know, and look, you're given 30% to a deal that, you know, to somebody that would never have received that income.
00:38:29
So it starts with that, but it also just starts with answering your phone.
00:38:32
It starts with being a friend.
00:38:33
It starts with responding and helping people when they need some help.
00:38:39
It happens when, after you've done a hundred deals, tie, now you've got somebody under your wing.
00:38:45
You know what I mean?
00:38:46
And so, time and place for everything, but you're doing phenomenal.
00:38:50
And I'm so excited and so happy for you, and so glad that you came here to share your story.
00:38:56
Because I think it's important.
00:38:57
I think it's important to show people that they can do this, you know?
00:39:01
And anybody can.
00:39:02
It doesn't matter what your background is, doesn't matter what your age is, doesn't matter if you're just getting started and you have a little bit of time or you have a lot of time.
00:39:11
Anybody can start going in this.
00:39:12
And that's what's so exciting about real estate.
00:39:14
And then once the momentum starts really building up, that's when you go and you take the money off the table, you have enough income, you have enough income to then go buy assets.
00:39:26
And then your assets are the ones that are paying your bills and your expenses.
00:39:30
And that's how you get rid out of the rat race.
00:39:32
So, tie.
00:39:33
Thanks for being on here, brother.
00:39:35
Really appreciate it.
00:39:36
Appreciate it.
00:39:37
I appreciate everything that you've done.
00:39:40
You've answered every text I've sent you, every call.
00:39:44
Everybody that works for you has been amazing, answer every question.
00:39:47
So I mean, what more could you ask for?
00:39:50
Awesome.
00:39:51
Thanks, Ty.
00:39:52
We'll see you later.
00:39:53
See you, buddy.
00:39:54
Thank you for listening to today's show, what an incredible show, real life every time.
00:40:01
If I can do it and if Ty can do it, so can you.
00:40:05
Now, he mentioned a tool called Deal Machine.
00:40:08
Deal Machine is the number one tool.
00:40:10
I am telling you, if you are going to find the best discounted properties, dealmachine.com is a must use the coupon code rich dad.
00:40:20
We've negotiated some incredible, incredible discounts for you.
00:40:24
So use that rich dad code.
00:40:25
And also, if you're interested in joining the Rich Dad community, where you get access to all the trainings, all the community, being around people that are doing amazing things and really changing your environment when it comes to investing in real estate,
00:40:42
go to richdadpro.com.
00:40:44
Richdadpro.com.
00:40:45
I do a support call every single Wednesday answering your calls.
00:40:50
Love to see you in there.
00:40:51
Till next time, love you.
00:41:01
Thanks for listening to Rich Dad Radio, the good news and bad news about flipping real estate, hosted by Brent Daniels.
00:41:09
To learn more, go to richdad.com.
00:41:10
