Joe and Theo base today’s Follow Along Friday on a listener question. The listener wants to get started in real estate but doesn’t know how to do that. Joe has some solutions, but ultimately it comes down to what is best for you. We’ll also get the usual business updates and a Black Friday discount code for the 2018 Best Ever Conference in February. If you enjoyed today’s episode remember to subscribe in iTunes and leave us a review!
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Joe Fairless: Best Ever listeners, how are you doing? Welcome to the best real estate investing advice ever show. I’m Joe Fairless, and this is the world’s longest-running real estate investing podcast. We only talk about the best advice ever, we don’t get into any of that fluffy stuff.
With us today – well, we’re doing Follow Along Friday, so we’ve got Theo Hicks. How are you doing, Theo?
Theo Hicks: I’m doing good, Joe. How are you doing?
Joe Fairless: I’m doing well. Let’s see, we’ve got a couple things we wanna go over. The purpose of Follow Along Friday, as a refresher, is not to talk about what we’ve got going on, but more importantly, to talk about what we’re doing as it relates to lessons learned to help you along the way. That’s the whole point of a podcast, and that’s why we do what we do. So how do we wanna approach today?
Theo Hicks: Our main topic today is based on a Best Ever listener’s question about him wanting to get started in real estate and eventually leave his job. So for context, just to give the listener’s background – his name is Marlon – he sent a very thoughtful message the other day. He lives in New York City, which is pretty expensive real estate-wise. Currently he has what’s called a full-time job; he works four days a week, actually overnight, as a doorman, and he makes about $35/hour. He has $70,000 in cash available to invest, and his ultimate goal is to quit his job completely, and (he said) to just relax. But until then, his medium-term goal is to be able to reduce the number of hours or days that he works at his current job, and make some extra money on the side.
His question is – he wants advice on how to get started and eventually achieve his long-term goal in the pricey city of New York. One additional thing – his idea for now is to buy a co-op, which I think was like a duplex, and live in one side, and have a tenant cover the rent, so he doesn’t have to pay mortgage anymore.
Joe Fairless: Well, I initially gave him a response and then he came back with a response. Do you have that response? While I’m talking, can you pull up that response? Because my initial response was to do house hacking. I said that the best approach usually is to do the BRRRR strategy… Everyone knows what that is – you buy, rehab, refinance and repeat, something like that.
Theo Hicks: Yeah, I think Rent’s in there somewhere.
Joe Fairless: Yeah, rent’s in there, obviously… Rent’s in there too, that’s another R. So you don’t have to pay rent, and you’re getting a little bit of cashflow from the renting of the other side, and you’re also building some equity, so you can then leverage that for a future purchase. That was my original response, because it seems the most logical, but I told Marlon that “You will likely have to go outside of New York City, and it’s gonna be a longer commute, and it might be a little annoying, because it’s gonna be a little bit longer.” I was thinking in my head somewhere in Jersey… Because I lived in New York City for 10 years. And I did not do that. I lived in East Village for nine of those ten, and East Flatbush for the first year. That’s one thing that I kind of regret, but at the same time I was using the money I had to then go buy single-family homes in Texas when I was getting started.
So my first thought for Marlon was to do the BRRRR strategy, and then he replied with…
Theo Hicks: He said “Define ‘commutable.’ An hour away? What if I told you my rent is $1,300…?”
Joe Fairless: So let’s do question-by-question. “Define commutable…” – it’s up to you, whatever commutable is; YOU define commutable. It’s whatever you’re willing to do on your commute. My mom commuted an hour and a half(ish), maybe an hour twenty minutes. She’s commuted that for the last 15 years, or something. She just left and now she’s officially retired, and she’s looking for a part-time thing to keep her busy… But that was a commutable distance for her, and she was driving. New York City – you’re likely taking the train or a bus or something, but anyway… So that’s commutable.
Theo Hicks: He says “What if I told you my rent is $1,300 and I split it with my fiancée?”
Joe Fairless: I love that. Nice, frugal and cost-conscious approach to rent. When I was living in East Village, my rent was — it varied year-to-year, but on average $2,000 total, and I split that with my roommate. I always had a roommate, so I paid no more than $1,100 at the highest, and as little as $800-something when we first rented that apartment. Okay…
Theo Hicks: And he’s currently 15-20 minutes from his job. He says “Would you still consider the house hack? The issue I see is a multifamily would be in the $500,000 and up range, maybe $400,000, and the interest will add another $200, 000 give or take”, and he says “I feel like that is a lot of debt to get into. So the idea is to get the tenants to pay all the mortgage, and with the money that I’m saving, it opens me up for other investments. The reason I’m looking at apartments is I found some for $180,000 to $200,000 in an area where the rent is $1,600 to $2,000 a month (which by the 1% rule is really good), with a $400 to $500 maintenance fee. I thought it was low cost, low risk, and out of state obviously the prices are cheaper but the rent was similar.”
Joe Fairless: So let’s take a big step back. The canned response I usually have for people for what should they do starting out is the BRRRR strategy, because it’s pretty darn solid, and it’s tough to mess that up. Now, you’re talking about some other things, like just going in investing in a property out of state – that works, too. I know it works, because I did it. My first house was out of state, in Duncanville, Texas, a $76,000 house rented for $1,095, and it didn’t really cost me anything to get it move-in ready. So it was pretty much ready to go whenever we bought it, and I was in New York City, and this place is in Duncanville, Texas, which is South of Dallas. So that’s an approach that you can do, too.
Ultimately, it depends on I guess what your interests are and how you prioritize what you wanna do, because the BRRRR strategy is a solid strategy for most people — or actually anyone. But the disadvantage to that is that if I would have done the BRRRR strategy, I wouldn’t have bought homes in Texas, and therefore I normally wouldn’t have been able to buy as many homes in Texas as I did, because I would have plunked down more money in a higher price market like New York City… So there’s a tradeoff.
You’re talking about the same thing – there’s a tradeoff. It would be a higher down payment most likely. Even though you can get more leverage on your primary, you’re still in New York City, so you’ve got that tradeoff there. With the money that is left over you might not be able to buy as many properties, with that original money that you have.
So ultimately, both of those options work; it depends on what you wanna do, because if you have a lower price cost of living in New York City, then go invest out of state. If you aren’t interested in single-families or multifamilies, then go look at note buying; it’s a lot more passive, but you’ll be able to get better yields if you’re doing it intelligently, especially if you’re buying distressed notes. So that’s the approach that I would take.
Theo Hicks: For reference, I’ve house-hacked my first property, and it was all-in — so the purchase price was 170k. I believe the down payment was only $5,500 to get into the property. So you don’t need a lot of money to house-hack at all, to actually get into the property. Now, I didn’t know about the renovation loans at that point, so I spent an additional 20k to fix it up…
Joe Fairless: What’s that called, 201…?
Theo Hicks: I can’t remember what it was called… 203K loan?
Joe Fairless: 203K.
Theo Hicks: So instead of me putting down the initial $5,500 and then having to put $20,000 in on top of that for renovations, I could have gotten a loan for let’s just say $200,000, put down that 3,5%, put down 7k instead, which would have saved me the initial down payment, but again, I didn’t know about that.
For me personally – this might be because of my temperament, but something that… I was actually talking to the guy I do life insurance with the other day, because he used to be a very active investor where he’d manage his properties (and I think he might have house-hacked), and then eventually he transitioned to just being completely passive, putting a property manager in place, because he was talking about how much anxiety it gave him to be in control of properties, and like whenever his cell phone went off, he would be like “Oh my god, [unintelligible [00:09:54].28]” I remember he said that and I laughed, because that’s exactly how I felt with my property, for the first year. Even though I was living there for a part of the time, I was very anxious about it. So for me, I like the ‘not living there’ aspect of it.
Something that I had never heard before and that affected me personally was the anxiety I had for living in the property that I was renting, because I had a tenant right next to me, and in a second they could just come and be like “Theo, I have this issue. Come take care of it.” Looking back on it, I was blowing things out of proportion and kind of making this fantasy up in my head of what could happen, but it’s something I used to not expect at all when I got into it, and for a year I was all stressed out.
Now that I have my properties now, that I still manage, and the only difference is I don’t live there, it’s a lot different, just because I’m not thinking about it all the time.
Joe Fairless: Because when you live somewhere and someone’s renting from you literally right next to you, it’s a different type of living experience. There’s not much separation from that, so that’s also something to consider, along those lines of what you were saying.
So to summarize Marlon, now that I’ve gotten some water and I’ve stopped choking on myself, to summarize – I don’t know what’s best for you. I have no clue. We would need to sit down and have a 60-minute conversation probably (well, probably 30) to get a better idea. But more importantly is multiple options work, and multiple options work because they’ve worked for other people, therefore if you’re got low(ish) rent while living in New York City, then I’d say do that and keep that as much as you can, and then go invest your dollars somewhere else, in a market that will allow you to get more for your money, because in New York City if you’re paying a bunch in rent, then that’s where I would look to then go buy something and cancel out that cost. But it sounds like you’ve got that under control, which is what I had as well; I had it under control when I was in New York City, so I bought out of state.
So that would be my approach based on the information I have, but again, I’m not exactly sure. Ultimately, it depends on what you’re mostly interested in, and many options work. You’ll just want to be educated. The steps that I would recommend is just be educated on what you wanna do, and then go find people who are doing what you wanna do and model their success, which we’ve got over 1,000 interviews on this podcast; I’m sure you can find some people who’ve done what you wanna do once you identify that.
Theo Hicks: We’re gonna move on to our business updates. I wanna ask you about — it’s very common for people that haven’t invested in a deal yet, or [unintelligible [00:12:42].06] that idea of real estate; he mentioned in his comment that [unintelligible [00:12:46].07] podcast and got really excited, which is awesome. I did the exact same thing when I first started getting into real estate, but the idea that a newer person has about this investing and just like relaxing after they get into it [unintelligible [00:13:00].26]
Joe Fairless: We were talking about insurance companies before we started recording, and you said insurance companies are now projecting people to live longer, but on the flipside, insurance companies have proof that if a male (specifically a male) retires and he doesn’t do anything else, then he dies in like five years. Because if you don’t have anything that you’re going after, that you’re going towards that you’re mentally engaged with, then you just turn to mush and you die… Especially after having a purpose and being driven for a long time.
Now, that’s statistically speaking. We all might know someone who beats that, but statistically speaking. So the point is that if you also talk to any millionaire or billionaire really — a millionaire is not really a big thing, but a billionaire, then they’re going to be actively engaged with their mind. They might have got a big exit on a company that they sold, and then maybe they partied for a week or two, maybe a month, but eventually they’re like “Okay, what’s next?” and the reason why is because it’s not about not doing anything, it’s about doing what you wanna do.
I remember reading something that Grant Cardone published, and he said “How do you not get burnt out? Well, you don’t get burnt out by doing stuff that feeds you and that you enjoy doing, because if you’re doing stuff that feeds you and that you enjoy doing, then there’s no such thing as burnt out.” I personally work — I don’t know, 80 hours a week? I have no clue, but it’s not necessarily work; some of it is. Some of it is like “Oh man, I have to do this…”, but most of it is not work as what I would define work.
So ultimately what you’re really looking for is not relaxing, in my opinion. What you’re really looking for is doing something that you enjoy more of, that feeds you and fills you up.
Theo Hicks: I couldn’t say that better myself. I had the same idea in my mind, and then — if you just try taking a week or two off, at the end of it you’re like “Alright, I need to do something here.”
And then also, another problem with that too is that if you take all that time to build up your real estate empire to the point where you can actually leave your job, and then you leave the company and you go to the beach and relax [unintelligible [00:15:10].20] you’re gonna lose all the momentum you gained over all those years, and you’re gonna fall off really quickly and have difficulty coming back.
But the part about people dying – I was kind of thinking the same thing. If you don’t have a purpose, you kind of just shrivel up and just disappear. I know Tony Robbins says “If you’re not growing, you’re dying.” I think that’s totally true. I think you talked about that last week, about the six human needs and about how growth is just a need that human beings have, and if you don’t have it, you’re just not gonna feel good.
Joe Fairless: And significance is a need that we have too, and I’d say in my experience males tend to have this more than females, where we need to feel like we’re needed and we’re necessary. And if you are doing a job for however long and all of a sudden you don’t feel like you’re needed or necessary to others, then you lose your compass. So it’s always important to stay engaged.
Theo Hicks: Alright, cool. So, you’ve got some…
Joe Fairless: Updates?
Theo Hicks: Some updates on business, life?
Joe Fairless: Let’s see… Something interesting happened this past weekend. An investor reached out to me through InvestWithJoe.com. He lives in Orange County, and he’ll be listening to this, too… And we had our introductory call and he was like “I’d love to meet you in person. If I come to Cincinnati is it okay if we meet?” I’m like, “Yeah, sure. Of course!” He told me afterwards, he said “I was waiting for some hesitation, but no, you jumped on it.” I was like, “Yeah, I love meeting up. Absolutely!”
He came last weekend, and Colleen and I had him over for dinner, and it was great. We enjoyed it a lot. He flew in on a Friday and we had him over for dinner on Friday night… But one of the questions he asked was “What does the ‘no fluffy stuff’ mean?” [laughter] when I say that at the beginning. He said “What’s it in reference to?” I don’t wanna say “Well, so-and-so does it in this way, and I’m doing the opposite…”, all I’ll say is just in real estate in general there is a lot of fluff out there, there’s a lot of puffery, there’s a lot of beating your chest, or just stuff that doesn’t get to the meat of what can help you as a Best Ever listener. So that is the ‘no fluff’ – I try to get straight to the point and straight to the good stuff… So that’s the context behind the ‘no fluff’.
The lesson here is if you have an opportunity to meet with people, then meet with them once the qualification process is in place. It would be impossible for me to meet with everyone, and same with you – whatever your business is and whatever aspect of real estate that you’re in, it’s impossible for you to meet with every single person, so have some sort of qualification process, and if then once they qualify, because you’ve done a good job through the qualification process, meet up and have those relationships. We actually had him over for dinner, which was great.
Theo Hicks: It’s funny, because last night I was hanging out with a couple of real estate buddies and we were talking about different direct mailing techniques, and there’s a guy in Cincinnati – his name is Zach – and I believe what he’ll do is he’ll set up direct mailers and then once they call, if they’re not interested in selling, he’ll still offer to take them out for coffee to learn about their business and kind of build that relationship, build that rapport, so kind of along the same lines… It’s a little bit less, because yours is more qualified than this; because this is kind of just your shooting the shotgun and hoping that you get a couple of hits, but I’m gonna try doing that on my next direct mailing campaign. I’m gonna send to a hundred owners…
The purpose is to buy a property, but on top of that if they’re local, I’ll met them so that maybe they’re not willing to sell now, but they’ve seen my face, and if they’re willing to sell in a year or two years or three years, I kind of play that long-term game; I could start working and building a deal pipeline further into the future. I’m assuming I’ll have more money to buy deals faster, whereas now I can buy deals like once every six months or so…
Joe Fairless: And staying top of mind with them after the meeting is important.
Theo Hicks: Yes, following up, sending a letter…
Joe Fairless: Having a process. I love that. Maybe it’s not as much of a qualification process, but it’s intentional meeting where you’ve already taken a step to — well, you have qualified them, because they’re owners… They’re owners of properties, so I guess you already have the qualification for them. I love that. That’s a wrinkle for direct mail, too.
Theo Hicks: Everytime you have a podcast with like a big guest — I listened to Leeza Gibbons the other day, she also talked about how important relationships are, and just building rapport, and how it might not be something that will give you immediate benefits, but in the long-term you have no idea what can come out of that relationship.
I was kind of trying to brainstorm ideas of how to do that, especially early on in the business when there’s not much to do, because you’re not buying deals constantly… When I get to my updates, I’ll talk about how I don’t have much going on right now with the properties, thankfully… There’s things you can do to obviously improve your current small portfolio, [unintelligible [00:20:03].15] do things that will add value in the future that you can do now, while you have the time.
Joe Fairless: Yeah, I love that. And the key is to stay in touch or have a way of staying in touch after you meet with them, and one good book on that – I’ve talked about it before – is Larry Kendall’s Ninja Selling.
One other comment I have – this is an observation that I’ve gotten after just thinking through people’s responses during that Best Ever Lightning Round, and that is when I ask “Best ever deal?”, usually it is either the first deal or their last deal. And if it’s the first deal, then the response is “This got me started, it’s not my most profitable, but it paved the way.” Then if it’s the last deal, then it’s “Oh, I really like this deal… It’s gonna be great, for X, Y, Z reasons.”
What I learned from that is if it’s the first deal, then they understand or they see that that was the start of something great. But if it’s the last deal, which is usually a deal they haven’t received all the benefits from, then it’s the perception of what’s unknown is more valuable than what’s already known. As real estate investors, it’s important that we just be aware of that thought process, because that could get us into deals that aren’t as good for us, and it could also have us over-estimate the projected profits of certain deals. It’s just an overall mentality that I’ve seen real estate investor have, and I wanted to call that out.
Theo Hicks: Oh yeah, totally… Especially early on when you don’t have experience of what actually calls for maintenance, [unintelligible [00:22:02].05] and you’ll have those percentages really lower, or not account for them at all… And it also kind of goes back to – I know we’re talking about Tony Robbins a lot, but that need for uncertainty and making sure that you know that’s there, so that you can use it for good and don’t let it kind of use you instead.
Joe Fairless: I think what I’m gonna do in 2018, because I’ve already recorded a lot of episodes for 2017… For 2018, sometime around February or so, I think I’m gonna start in the Best Ever Lightning Round saying “Best ever deal you’ve done that’s not your first and not your last?”, and see what they say then… I’ll get them then! [laughter]
But what about you? You said you’re completely lazy, you have nothing to do, and you’re sleeping until noon, and eating Cheetos.
Theo Hicks: Yeah, lots of Cheetos; hot Cheetos too, with cheese. No, so for the past two weeks I’ve had radio silence from the residents for the first time since I bought the properties at end of July. These are properties that are doing really well [unintelligible [00:22:54].27] but that’s obviously a good thing.
The only other thing besides what I talked about with the direct mailing idea is that I’m finally towards the end of the process of setting up all the properties into individual LLC. The lawyer just e-mail me before this; he needs a little more information to create the operating agreements, but by the end of the month, or at least by the end of the year, they should be out of my name, into LLC’s, so if something were to happen, I’m covered… So that’s exciting, that’s a new development.
Joe Fairless: Good, good. How much does that cost?
Theo Hicks: From what I can remember, it was less than $100/operating agreement and LLC.
Joe Fairless: How many are you doing?
Theo Hicks: Three of them.
Joe Fairless: That’s pretty darn good. That’s really good.
Theo Hicks: Here’s a reference from — I can’t remember who I got it from…
Joe Fairless: It’s actually outstanding, now that I think of it.
Theo Hicks: Yeah, I think it was about $100 per… But he was saying he liked to help out newer people and he’s in it for the long-term and things like that. Besides that, we’re kind of in the market for a property where at that point where we can afford it, if a deal comes up, but we’re not totally ready to do it yet, because we’d like to have a couple more months of income coming in from these properties… So we have a couple of months with the goal of getting up to six months of expenses covered before we move forward. But yeah, besides that, really no new updates.
Joe Fairless: Are you doing direct mail?
Theo Hicks: I’m doing a direct mailing campaign by the end of the year, and then I’ll do another one in February with the goal of having a property secured by around March, so that if it happens — because this time around I wanna try kicking everyone out and putting in new residents. So if I buy the property in March and then I’ll close in April/May, that’ll be a hot renting season. I’m not gonna do that no matter what, just for the hell of it. If I’m in the same situation that I have with my properties now, where I wish I would have done that for these properties and gotten new residents in there, I will do it. But if there are great tenants, then I won’t do that.
Joe Fairless: So if you can elaborate on that… You said kicking people out and then bringing new people in – will you elaborate on that? What do you mean by that?
Theo Hicks: So in the units I have now there was one unit that was vacant, and we were able to get $75 to $100 more – because some of the units are a little bit less – for that one-bedroom unit than we did for all the other one-bedroom units. If I’m able to get $100 for putting someone new in there, that’d be a pro.
Also, just something that I’ve realized, and I’m not sure if it’s something that I need to do something about, but — I think we talked about this on a previous one, but the residents were used to the old owner, and the way that they were expecting the property to be ran when I came in was not the same as it was before. I wanted things as simple as rents on time, to a mailbox or online, maintenance requests submitted a certain way… And maybe I should have been more strict about it, but the new resident, how I was able to set everything up new with her compared to the older ones is a lot less of a hassle for the extra money I’m getting… Because I was able to handpick the person.
So I’d much rather have a property that I was able to handpick all the residents instead of having to wait for them to turn over and then handpicking someone to put in there, just because of the — honestly, because of the headache factor.
Joe Fairless: Okay. But if they’re offered the increase, the renovations to the current residence at the new property, and if they say yes, and assuming that they’re not a problem resident, then you would renew it with them.
Theo Hicks: Yeah. The problem with the one I have now is that — remember how the rents were all weird? They said they were one thing, and then his rent roll said something else, and then they were actually something completely different once I actually bought the property…? Because he had just raised the rents before I got in there, so I wasn’t comfortable doing that again, just because I didn’t want a mass exodus and them all saying “I don’t wanna pay that.” For this specific time I didn’t have enough money to afford it, but this time moving forward I’m assuming I’ll have enough money to afford to do any kind of things that I want to do to demand those higher rents.
Joe Fairless: Got it. So just adding some more context to that statement – you’re improving the property through renovations, and then through renovations you’ll increase the rents, and then you’ll see if the residents want to stay or not. If not, then you’ll have a turnover.
Theo Hicks: Yeah.
Joe Fairless: Okay. You said it very crudely, and I’m trying to add some color to it, that’s my point… That’s what I’m trying to do here. “I’m gonna buy some and then kick everyone out…” – it’s like, dude, come on, add some more color. Okay, got it. So you’re a nice guy.
Theo Hicks: I’m a nice person.
Joe Fairless: Yeah, you’re just very analytical.
Theo Hicks: I’m very analytical and very blunt. What you said is based on what I would do for most of the units.
Joe Fairless: Yeah. That’s your… Chemical engineer?
Theo Hicks: Chemical engineering.
Joe Fairless: Engineers just think completely different.
Theo Hicks: I don’t think I told this story… I think you’ll enjoy this based on how I was talking – so end of last month I had one of the residents text me a day before rent was due with his list of all these different maintenance issues that I had never heard of before. He told some lady… And because they were fixed — they were very, very minor…
Joe Fairless: Like what?
Theo Hicks: “My lock works, but it’s loose…”, or “There’s mildew in my tub”, because he’s not cleaning his tub, and things like that, and “Because of that, I’m not gonna pay rent.” So I respond, I’m like “That’s not how it works…” I can’t remember exactly what I said, but basically I said “That’s not how it works”, but in my blunt tone, and it didn’t go over well at all, he was not happy.
I talked to my wife, Marcella… Our strategy is I’m the site manager, and then if I mess up, she’s the owner, so that if they — because he kept saying “I wanna mail something to the owner. What’s their address? What’s their name [unintelligible [00:28:23].22] She goes through and reads my text, and she’s like “Theo, you can’t talk to people like that. You have to handle them with [unintelligible [00:28:31].14]” and I was like “This is my job.” Even the customer I have at my job, even if they’re wrong, I’ve gotta take the blame… And I was like, “Alright, well how about you just call them and do this?”
Joe Fairless: She smoothed over… Smooth like silk, wasn’t it?
Theo Hicks: She calls them, and for the first half an hour she is just ranting about how — not necessarily geared towards me, but just ranting in general.
Joe Fairless: Just life in general…
Theo Hicks: Yeah, and then she ended up being very sympathetic, smoothed it over, and then once — I went in there and addressed the issues, begrudgingly, of course, and then I just texted him like “Hey, they’re done.” [unintelligible [00:29:03].11] But yeah, my blunt manner gets me in trouble sometimes.
Joe Fairless: Well, it’s much better to have that approach, in my opinion, than the exact opposite. You’re one extreme, and it’s much better to have that extreme than the opposite… Because you never know what anyone’s thinking, really, if it’s the exact opposite.
Sweet, what else have we got?
Theo Hicks: So the last thing we have is the Best Ever Conference which is coming up in February, so pretty soon. We’ve got Thanksgiving coming up, and we’ve got Black Friday, so we have a Black Friday sale… So it’ll be $25 off one ticket, and then if you’re gonna purchase two tickets, it’ll be $75 off that entire purchase. The code that you need to enter is “BlackFriday”. We’ll put that in the show notes.
Joe Fairless: And where do they go? BestEverConference.com. $25 off one ticket, $75 off two, and the early bird’s still got the best price… This isn’t as good as the early bird special, and that’s over with, but this is the next best thing that you’ll get, and this isn’t an insignificant discount – $25 off one, $75 off two tickets. Cool.
Theo Hicks: And to wrap up, make sure you subscribe to the podcast on iTunes and leave a review for the opportunity to be the review of the week. This week we’ve got Brandon Nelson, and he says “Joe, there’s no doubt in my mind that your podcast and the information you compile and share via your website – downloads, books and such – will directly increase my personal net worth by eight figures over time.”
Joe Fairless: Wow!
Theo Hicks: “THANK YOU.” All caps. “He’s been my entry into multifamily syndication, and I can’t thank you enough for that.”
Joe Fairless: Brandon, I hope it increases your net worth eight figures, and everyone else listening, and how about ours, too? Everyone just eight figures net worth increase. Thank you for that review, and thanks Best Ever listeners for doing a review.
The reason why, I’ve mentioned before, is by having more reviews, we attract more high-quality guests, and that helps with obviously helping our eight-figure incomes continue to grow and grow.
Sweet, good stuff. Best Ever listeners, have a wonderful holiday, and we will talk to you tomorrow.