Get ready to level up your financial game as we journey into the world of real estate investing. With my co-host, Rocky, we delve into the importance of self-investment, taking time to educate oneself about the world of real estate, and the role of sturdy assets like properties in creating a lasting legacy. Uncover how to tap into resources, conduct extensive research and make informed decisions.
Navigating the realms of single family homes to multi-family properties, Rocky and I, break down complex investment strategies. We decipher the implications of taxes, discuss the role of loan officers and shed light on the significance of reliable information when investing. Wondering how to build wealth while nurturing a real estate portfolio? We've got you covered. We dive deep into the potential of cash flow considerations, buying points and the prospect of equity growth over time. Gear up as Rocky introduces his YouTube channel, The Professionalist 23, a treasure trove of additional insights. Come join us and equip yourself with the right armor to conquer the battlefield of real estate investing!
Get ready to level up your financial game as we journey into the world of real estate investing. With my co-host, Rocky, we delve into the importance of self-investment, taking time to educate oneself about the world of real estate, and the role of sturdy assets like properties in creating a lasting legacy. Uncover how to tap into resources, conduct extensive research and make informed decisions.
Navigating the realms of single family homes to multi-family properties, Rocky and I, break down complex investment strategies. We decipher the implications of taxes, discuss the role of loan officers and shed light on the significance of reliable information when investing. Wondering how to build wealth while nurturing a real estate portfolio? We've got you covered. We dive deep into the potential of cash flow considerations, buying points and the prospect of equity growth over time. Gear up as Rocky introduces his YouTube channel, The Professionalist 23, a treasure trove of additional insights. Come join us and equip yourself with the right armor to conquer the battlefield of real estate investing!
Welcome to the professionalist real estate investing podcast with your host, tony Jacobs. This podcast is not just about making money. It's about creating a legacy that stands the test of time. From analyzing market trends to mastering negotiation skills, we will leave no stone unturned as we guide you through different stages of real estate investing. We will bring on industry leaders and share stories from the good, the bad and the downright ugly. So it's time to level up your real estate game, and there's no better way to do it than right here with us at the professionalist real estate investing podcast.
Speaker 2:
What's going on world? Another episode of the professional real estate investing podcast. I got my G over here. Ooh, rocky, rocky, my man, how you doing today.
Speaker 3:
I'm doing good.
Speaker 2:
Yeah, just had to bring you one, because me and you we hook up a lot. I'm going to get some time off and we'll talk about real estate investing and everything. Just want to let the world know who you was and everything and who you are. Who could you be? But what made you get into real estate investing? Oh man.
Speaker 3:
I was thinking about that. I was thinking about that all the way here. There's a lot of things, a lot of things, just to not work for someone else, work for myself oh, definitely true, and I just feel that for the future, I wanted my money to work for me versus for someone else, exactly. Oh, my God, I think the biggest thing for me was like my future, because I have a wife and kids now. So before it was like investing is more like grinding, making money, being able to buy what I want and stuff. Now it's like what can I leave my family? And I had money saved up and for okays and stuff like that, but it wasn't doing nothing, no, just sitting there.
Speaker 3:
And when the TLM crash and Bitcoin, all that stuff jumped off. I'm like dude, I still want to look on a podcast. I still want to look on a podcast and it's like what are you doing with your money? Right, you have a 50K, 100k in your big cap. It's literally losing money with inflation every year. I was like it hit me so hard. It's like they're right. Gas prices were $3, $4, $5 and I'm like dude, gas prices are going crazy. I wanted to sit in there doing nothing and then I started off on stock market. Oh yeah, put your money in stock market, you know, because I haven't bought on K. So that's basically what I was doing, right?
Speaker 2:
Yeah.
Speaker 3:
But you want to start market, you make money this way. Did all the data, I did okay, but then last month I did okay that last month, but like that, the money that I made, hard work and money was gone. I was like.
Speaker 3:
I was on the casino, exactly right. But then all this, yeah, so I started looking into real estate. Real estate was more substantial. It was a foundation. You can't just take the money out, some can't take it from you, it builds. It was so many different avenues of wealth with real estate, with appreciation, someone else facing pain with bill for you, cash flow and stuff like that. So I was like let's try that To build that foundation for the future for my kids. So that was the biggest thing.
Speaker 2:
That's good, because that's how the wealth we do in our days is supposed to stay. This way, yeah, investment overall, the new investment is yourself. Yeah, but then with helping with real estate, oh man, that makes like so much better.
Speaker 3:
Oh so much. Yeah, I don't think this one, the one middle there, really, that's the house up to your list is that so?
Speaker 2:
Yeah, but they all got close to you somewhere all the time and it was basically like with me, you how me, you met, we worked at the same place and then I remember you was new and I was talking some about real estate or we having full-fledged conversation, and you're like hold on, yeah, from that, shoot that, from that day on, and me and you've always, we've always looked up every time, yeah yeah, I heard you talk about real estate or something. That's my start. We know what?
Speaker 3:
this is not right now, so we started looking to real estate and I heard talking about it. So I was like, oh, toys into that? Okay, yeah, oh, I'll tell you something. Oh, I, cool, yeah, and a lot of people are into it, right, yes, wasn't that, wasn't that you're into? Is that? When I met you, like this, my god, yeah, yeah. So the clock in the morning, trying to be right now your into real estate and you're doing it. Yeah, I guess the guy I can build a place shit with.
Speaker 2:
Yeah, he's good. And then that was a great connection because, yeah, real estate, I eat, live it, breathe it 24-7. I was watching something today with real estate. Every, every day, before I go to bed, I'm really reading about real estate because it's just, it's a, it's an engine that's so strong, it's man. Yeah, I think it is the world, because, as I've always, said guys not making any more land.
Speaker 3:
He's not making any more dirt. Yeah, so I got place live.
Speaker 2:
So this place live. So in this place live. Besides getting to real estate and us meeting up and everything, what can you tell somebody who's not Not really wanting, they don't know about much about real estate as to how they need to go about to get into real estate and find out what's about, what is some avenues where they can find out information?
Speaker 3:
Honestly, it's out there. I mean Google these, you know these podcasts, even their neighbors yes, look at your neighbors that are in retirement. They find some kind of investment. Yes, you know what I think all comes back down to the mindset if they're really ready to look into it. Because If you really want to gain something, if I want to learn today how to there's books out there, this, videos, stuff I'm gonna learn how to do. I'm gonna learn how to do I don't know what kind of equipment, stuff like that, but you're not ready to learn about you like to learn about it. So I got friends that want to get real estate and I told like, oh Well, we try to do you trying to multifamily each other, single home stuff, and they had no idea what else happened about as far as, like, multiple doors, multiple streets, income passive.
Speaker 2:
What direction they want to go to? Yeah, I was like dude, I know you want to get into it, but what are you doing? What are you looking into?
Speaker 3:
It's what I mean you can throw out, even with throughout this big names, like you've never do that, like yes, yes, and then just sit on that path and stuff. But like it's out there, like I said, youtube, there's books, there's all kinds of support groups on Facebook yourself, I you want to get into, and websites and stuff. But I think this comes out to the mice if you really want to get to it, like you have to tell yourself like how far you wait to go to get into it, because just like it was your studio right here in Vance oh yeah, I'm doing Falkex, but some people got their phones right. They're doing their phone, they can start. They got no mics, they got no cameras, they got no back.
Speaker 3:
They got no merch, like when you're doing it, you do it. It's like that thing with the real estate you have to really get into it. The information's out there. If you can't find it, you know I have something to say to you you ain't looking for it.
Speaker 2:
Yeah, and I think too, you have to find people who not everyone's going to want to teach you or not really actually teach you give you the proper advice. Yeah, it's hard. It's very hard to have this. It's very hard nowadays to get that. You got to be careful because you don't want to be going down the long hold of hold on a second. Why am I ending up in this courthouse again?
Speaker 3:
Yeah, it reminds me so the more I'm talking like talking about real estate in Mexico. Oh, thanks so much. I'm a forward right now. Thanks so much. We do it. The money You're the best thing You're paying your kids. Kids cost funds off. For what? And that's one guy is like I do a little sale already. Oh, my God, you don't be my guy. Like, what do you do? And all that stuff. He's telling me there's certain ways you could go about it to where you don't have to pay your tax on it. You don't have to. You can get the lowest interest rate. You can get a congressional loan. If you're saying that you're going to rent it out when you live in it, or you're going to live in it but you're actually renting it out, all right, he's into it and he's doing it. But he's definitely not the guy I'm going to be into because, like he's sad Trying to open jail, paying taxes if you're going to do it.
Speaker 2:
I'll ask you like in football. I see a whole bunch of penalty flags.
Speaker 3:
Yeah, yeah. Before the kickoff we were like what is that flag for? Too many, I don't know. Too many, too many.
Speaker 2:
Yeah, you got to be with the right person, the right mindset. Definitely, because everybody's mindset is not the same. It takes a lot. But then when you think about it you say, wait, if I just circle myself around the right people, the right mindset, is you the right?
Speaker 3:
vision is you. Yeah, he can go a long way and festivals.
Speaker 2:
Yes, exactly.
Speaker 3:
Yeah, festivals, this guy, he was when we were talking and everything it was all good until we started. Okay, how did you get that rent property? The interest rates are so high right now. How did you get that? How was? And you didn't put that down, did it all the stuff? And he was just basically telling me the wrong way to go about it. That's, we get it. But you like the government, you like the taxes, you like to your loan officer, you like all kinds of people, so his morals are different there, so that that definitely put a little that role burning on me hanging out with them.
Speaker 2:
Anymore I'm talking about, let's say, because I do, I try to do the right way, exactly, and world out there, I'm going to let you know we're not going to direct you in the wrong way, except for that we're not trying to have nobody up in the courthouse and be in a zoo and everything, and OG's always told me there's a right way of doing things and there's a wrong way of doing things, so I'm going to take that I want to bring that to the top.
Speaker 3:
I'm totally going to talk to you about it. Hey man, you hear about this and I know what you're talking about. What do you think about it? Don't do it, don't do it. I'm like, yeah, I ain't trying to do it, it's just crazy, because it's like it's easily out. It's always like quick money kind of stuff. I'm trying to be like I'm going to say like something, something like you see, something that's longevity, something that has a good moral foundation, I'm trying to buy a slum house and just run out to whoever can afford it, kind of thing.
Speaker 2:
So that's what I was trying to, and I'll be too the person who makes quick money boy, as quick as they get it, as quick as they can leave it to be away from them too, Just like a stop right here I put oh man, I put some money into it.
Speaker 3:
I made some money, but not as much as I was like oh my God, I'm rolling, but I lost as quick as I made it too. It was nothing to tell me that I can do it again. I can do it again like now, just not.
Speaker 2:
Real estate. In my opinion, in a lot of people's opinion, people that have way more money than us put together in real estate. That's exactly where it's at and, like I said, what the mind said yeah, I have you too. Also, what certain books I read a lot. I read all the time there's certain books and I find gems all the time. I find gems in other people's podcasts. I'm not restricted to just the people who I talk to. There's a people out there that give a lot of beneficial information for people and not be taking down notes, because it's just like, if you good, I can say good people recognize good people and they're going to lead you the right way.
Speaker 3:
Yeah, yeah, you said that when you're podcast. I like that. Yeah, it's a true tip.
Speaker 2:
Yeah, yeah. So what is what is gonna be your next endeavor? Because I always do it as, with me, I'm starting a podcast and I just want people to know other people out there With the professionalism and real estate and what path they want to take and give advice to people out here in the world. What is your next avenue when it comes into real estate investing? Because I do it as, even if you haven't started something, speak it into existence. You speak it into existence. If it's gonna happen, it's gonna take time, it's gonna take effort. It's not gonna get a be a Real quick, but it's gonna take time and effort and keep it consistent.
Speaker 2:
Yeah, you're gonna go about the right way. What is your next avenue? Is it multifamily mobile homes? Maybe getting a house to start off like when do you where in the line? What do you think you're gonna start off it?
Speaker 3:
I think for me doing this thing, doing it by myself my wife has curtains and everything, but I do it for myself with all the come and my old business Sorry, I'm gonna go with this residential through Russian to bath is is. It's where I would like to start from. Death will open up to multi if it's the right indication.
Speaker 3:
Yeah right indication or even a. Even if it's a, I do place for place. I'm like that I'm trying to do a lot of research for read-alls and when you have that, okay, you gotta do more, 10-10, more 10 minutes and everything, yeah, and like how does that work with moving? If you buy a multi, you buy for four place and suppose I live it to it living in there, but you have to buy it. They're probably under the the basic rate of what you read for it. Branched out, they go. How?
Speaker 1:
do you?
Speaker 3:
not have that door. Okay, I'm rocking the new owner and you're doing that's gonna be, yeah, and things like that. Single family I got pretty much got it as far as You're interested to one person family usually and you deal with them, that's it and you pretty much the pain for your, your home loan taxes I'm gonna take and if you're lucky enough, your it will make this passive. Come off of that, so that's by the easiest thing right now and start no business and using that home for deduction and something like that.
Speaker 2:
I think it's just getting into it, just starting my first investment, yeah, the first one, no matter if it's a, if it's your first, and to getting your own or in a syndication or In a real estate. It's always gonna be the hardest, but from that point on it'll get smoothed with time.
Speaker 3:
Yeah, it'll get smooth with time. Do one, you can do another one, you can do that one and slowly but surely I guess you gotta you start off just like me, and it did so many Resurrections and they got to four plexus, duplexes, whatever, and it's slowly just started going going out of apartments. It's like it took years to build that, fill that formation and credit all that good stuff. But it just takes time.
Speaker 2:
I'll tell you it's a marathon, it's not a hundred meters spring, that's right. It's a marathon, and the more you're good at it, the better at it. The more you're gonna, the more knowledgeable you're gonna be, for yourself and for others to yes. So I'll say another thing too. Can't remember off the top my head it comes within with real estate investing also. Oh, I remember now I Was watching this, this little video part Do you view a house as an asset or Alive?
Speaker 3:
living it.
Speaker 3:
That is, say it's a your own house If you're living it, see it as liability Because you're your bad and the homeless, locked up unless you call you. Keep up something out of it. Yes, I'm fix about a house right now, three years ago, and I'm constantly putting money into it and the crap by is appreciating. But until I set or take money out of it, it's still. It's almost like a. It's almost like money going to like a boat. But you buy a boat and it keeps breaking down. You don't bribe it. In a way you don't go nowhere. What is winter time?
Speaker 3:
Yes when it's so tiny, throw away to it, fix up, get it ready. I just do it all over again. You know, I didn't know it hurt it like that.
Speaker 2:
I'll. I was with you too. And then I think it depends on the person's one person and, just like what you said, it is a liability because there is. It can be appreciation about you putting into the house everything, but then the other gentleman said he views it as an asset. Yeah, the reason why the users and asset is because your mortgage is locked majority of the time your mortgage is locked. Second, you have equity because the housing market would you're adding on the house and everything, but with owning in house compared to. So if you own a house, you can do that but say, if you rent a house, your rents go up. And I was just like hold on a second. Oh, my goodness. So if you rent a house? I was thinking about this. When you rent out a house, you actually can provide it by going, having your rents up and growing equity at the same time. Just little strategies here and there that make me go. I get what you were trying to say. I was. It's little things that I hear every day Because there's so much, like I said, there's so much to real estate.
Speaker 2:
Oh yeah, I can't wait to do the next podcast with my guy in the sub two, because that sub two is amazing. It's amazing how it's done and how anyone can do it. You don't need to have a degree or anything about it, you just need to know exactly what the number is. Real estate comes down and comes down to numbers, numbers that you want to buy the property or not. Is it going to make enough money for you to even keep? Yeah, the things you have to wear to the storm about plumbing? Plumbing is huge when it comes to homes. There's so much of stuff, so much landscape. The landscape of the property is Rock, rock, rock. You don't want to live in a chest right off the cliff and then you get a bad storm that comes on that way. You know your house is just going straight down the stream. Yeah, yeah.
Speaker 2:
But, bruh man, I hadn't get you one here because we meet up all the time and everything. We have time and everything. I like that. Start off with the house and I say keep on going. You have no other choice but to go up. My mom always tells me when you're at the bottom, you're right there. You have no other choice but to look up. That's it. It's got to keep Meaning when you're not at the bottom. But it's a start. You have to start at the solid ground. Yeah, you just build yourself up.
Speaker 3:
I lost a lot of these videos too. I was like, how's it get into real estate without zero money and stuff or zero experience? You can if you know the right avenues and the right things. But for me, I did start thinking of real estate a couple years ago. I met you and I was like, oh my gosh, I did my own research and missed the podcast and started looking at my own financials and I was like, dude, why not, why not get into it, use it as a kind of a savings account for retirement kind of thing and everything. But now a lot of people know the right ways to go about it or kind of mindset at 20 years old.
Speaker 3:
If you started investing at 20, I was doing that 20. Damn shit wasn't thinking about investing. I'm going at my point.
Speaker 2:
I wasn't going to do anything at that age, right now. I wasn't.
Speaker 3:
I was like oh man, now I'm actually into it and thinking about it, my mindset has changed and I started watching the right videos and talking to people and just trying to build that.
Speaker 2:
I'm glad you said the right videos, because there's some videos out there and I'm just like where are they talking about Right people.
Speaker 2:
Yeah, this makes no sense of what they're talking about. Yeah, and that thing I was going to say also, too, is yeah, just don't stop. Don't stop with it. It's a marathon. It's a marathon to deal with this. With real estate investing, you got to be around the right people. You got to have the right circle. It's just anything about it is overall, it'll help your family the long run. Yeah, it will help you. They'll bring that generational wealth. Yeah, I don't have much. You have to concentrate on a 401k.
Speaker 3:
Yeah. Yeah that's not the way to go. Yeah, my mindset over the years have really changed. As far as I think you talked about too about college, yes and like trades and things like that. I was like I think I talked about doctors we're going to I know I don't friend a couple years ago he got his doctor's degree and came like a doctor, get a wife and kids and he's fine, you start paying off that. That's so long, don't just do it alone. He's undergrad, pre-med man, all that stuff, okay, I was like that is crazy, yeah, yeah.
Speaker 2:
That's amazing.
Speaker 3:
If you are able to take that money and throw into my house, you know, 250 to the kid house and start the dog 100 K on each house, you would have six, seven houses Passive income coming in and you'll probably be a lot more happy because you weren't grinding the state years. Yeah, but like I think, going back to what you're talking about, the other pockets, if you want to get into that medical and take care of people, do that. Awesome that's great.
Speaker 3:
But there is a different happening today. I never thought I would. I never thought I'd be a nurse, go out I mean, a nurse was for smart people, yeah, and I was out, my great spoke for a sub nice, but I was like I wasn't the smart kid, but I wasn't, I wasn't needed, not in English, and then it wasn't until school. Seriously, I was obviously going to do career in a job I think so as a nursing, and now I'm doing it and making good money. But now I was thought of Real estate is not for me, that's what's more people?
Speaker 3:
That's what's more people that have money. And now I'm thinking about you. Don't have me smart to do it. No, you don't and you ain't got to have a lot of money. You do have to have some, right, that's the part about you have to have some, but man, you don't need that much. No, you don't be really thinking about it, depending on what your goal is and stuff, but exactly, but man. So now in the mindset, I can probably do this too, and yeah.
Speaker 3:
I'm I've done my homework for the most part. I talked to the loan officers. I got my C set up.
Speaker 2:
I got.
Speaker 3:
I got some number set up to, I got things paid down, so now I'm gonna probably need to say some way so I can have that payment. Look at the cash flow situations, interest rates and buying points down all this stuff, yeah, and seeing if I can get a home that's gonna give me cash flow, or so you guys just just help me Build my wall for the long term, because even if I am making two, three, four hundred dollars a month on cash flow, that person is paying almost 20 what 24 thousand dollars a year on the house that I'm building. Yes, equity and stuff. I exactly so it's there.
Speaker 3:
Exactly it's there because I had money. I'd be, you know, plus case it'll be in Cal for years. Yeah, I'm doing alright. I'm doing alright, I'm making a big cap.
Speaker 2:
Is that a net eight? And then that starts that ball rolling right there, that first one to the second one, to the third one, and then you'll be done with bigger endeavors. Yeah, sky's the limit. Sky's the limit when it comes to that.
Speaker 2:
Yeah, yeah, that's it, we'll wrap this up real quick and Anybody wants to get a hold of me. You go to professionstrelastateinvestingcom. I'm looking for other people to interview, or I mean you can catch me on the YouTube channel at the professionalist 23. That 23 is for my man, mj. But yeah, we got another one down right here. Rocky, glad you came through. Yeah, and it's a rat, he's free.