YesTalk-127 -The Best Interview - Jacobe Kendrick

Foreign welcome to this episode of yes Talk, Conversations with the Masters. Conversations with the best agents in the real estate industry. Today, I am extremely excited to have one of my inner circle members on. Mr. Jacoby Kendrick from Midland, Texas, with Weikert Realtors in West Midland, Texas, Just far west Texas, for those of you that do not know where that is. And I remember as a kid or growing up, because I grew up in Texas, going to Midland and Odessa, and it was kind of like way out in the middle of nowhere. This is kind of like the land that, you know, God forgot to put trees out there. It was no trees, no mountains, nothing but just desert tumbleweeds and so forth. So here is a guy who is crushing it, even out there in what I would consider to be the middle of nowhere. And Jacoby, great to have you. Welcome to our yes. Talk with the Masters.

Yeah, thank you so much. I'm super excited to be on with you. So thanks. It's an honor.

Yeah, we're excited to have you on now. You are. Tell us, just kind of tell us about when you got into real estate, how long you've been doing real estate and what you did before and so forth.

Yeah, so I got into real estate probably about 2012. I got started as an investor. So I was doing the investor wholesaling, trying to do fix and flips and learn how to find places and all that. So that probably started in 2012. And then I got my real estate license in, I think it's 2014, I believe is when I got my license. I wasn't getting enough information from some of the Realtors that were around. And I just need to get more market data. So that's why I decided to get my license. And then I helped a couple of people. And then, you know, some things didn't work out in the other business arenas that I was working in. So just kind of morphed from being an investor to getting my license to helping more and more people, you know, buy and sell properties of their own.

Awesome. Now, did you have another job while you were doing this?

Yeah, so originally. So I was. I was in the Air Force. I separated out of the Air Force in 2012. My dad owns a pipe inspection company here in Midland, which. Midland Odessa is all oil. That's absolutely all we do. So I didn't know what I wanted to do when I separated from the military. And he was thinking about he's been in business for 40 years. So I said, you know, I'll come work with you, figure out what I want to do and then possibly take over the business. And that's why I was doing the investing and all that thing. And then, you know, different things change. So that part didn't work out. So moved on to the real estate thing.

So when did you actually go full time selling real estate?

Last year was my first full year in real estate. So I started full time January of 2017.

Okay, so literally last January you went full time. You'd been part time in the. Before that. And most of what you've been doing before was real estate. Was it would be investing, flipping, that.

Correct. So, yeah, so in 2016, I was doing it part time. I, you know, would help folks here or there. Like somebody knew I was doing it or I got like a office lead in or something like that and I would do it. But most of the stuff was just in investment stuff. If I found a deal offline that I didn't want to buy, then I would sell it to, you know, sell it to someone or something like that. But sporadic before that.

Okay, and then last year you said, that's it, I'm going full time.

Last year was full time because I knew I wasn't going to do. I wasn't going to take over my dad's business and I had to find something, something to, you know, provide for my family.

So would you consider real estate to be a fallback? It was kind of like I didn't know what else to do, so I fell back on real estate or this was like something I've been wanting to do and thinking about. So it was kind of like this was. I wanted to do real estate.

It was, it was strategic because I've, I, whenever I separated out of the military, they do these tap classes that you take and they basically get you ready to transition into civilian life. So in that time period, I read Rich Dad, Poor dad and some other folks were talking about your financial iq. And then I always was intrigued by passive income. So I was committed to real estate. I just didn't know how I was going to do it. So I knew I wanted to be in real estate. I know I wanted to own real estate. And then so, you know, I just kind of walked down the path. This wasn't what I chose, but it was, you know, that real estate was in the distance. So it just, I guess naturally just kind of, kind of went that way. So. And then, you know, I was doing that when I was with my dad part time. And then once I decided, you know, once we found out that that wasn't going to work out. Obviously the real estate was the best thing for me to do because that's what I want to do, you know, full time. And it's just multiple streams and they're all in the same industry. So.

So just a natural progression for you to go from not only real estate investing but now add on real estate selling full time.

Exactly. Because my, my, my ultimate goal. Yeah, I mean really, in the end, I prefer to be an investor, but, you know, I've got to pay, pay the bills and you do that sort of thing. So being a realtor is just the means to get to where. Where I'd like to go.

Which is, which is great because you have clarity. Right. You're, you know, this is what I want to do ultimately is I want to be an investor. And we'll, and so let me. Let's, let's start. Normally we'd start, we started kind of where. How you started. But I want to kind of jump to the end of the story now. Okay, what, what's your goal? What is the big like five years from now, ten years from now? You know, real estate agents, a lot of real estate. Every real estate agent has some idea of what they see happening down the road. So how do you see your real estate happening in 5 years, 10 years? Is this like want to build a mega team is what you build to own a brokerage? Do you want to just do investing? Do you want to do selling till you die? What is the, what's your vision of your perfect life down the road?

Yeah, so my end goal so that the nearest goal is to own 25 rental properties, so 25 doors, because that's going to replace my active income, so to say. So that is the immediate goal is to acquire as many properties as I can as quickly as I can to get to that number. And then I want to move on to multifamily. It's kind of, it's kind of changed. I'm talking to some folks. I don't know if I want to do mobile home parks or apartments or what I want to do, but I want to move into multifamily and then just. I like being a landlord, so I like providing people with housing. I like providing people great places to live. I just, I hear so many stories about folks here who their landlords don't take care. Got some folks who are popping.

You just froze for a second, so we kind of lost you for just a second. So you said I like taking care of people and then you cut out. So go back and yeah, So I.

Said I like taking care of people. Just, you know, the product that we have, remodeling homes and then putting them into those homes, they just, they just love it. And just being able to take care of them. You know, I've got a couple of tenants who are possibly going to even buy some of the properties that, that I own. So I just, you know, just like taking care of people. I love being, I like being a landlord. So the goal is to just continue to find deals, continue to add to the inventory, and that's just, you know, and then possibly fund other endeavors through, you know, those assets, you know, using those assets to do that. So short term, that's the goal.

Okay, cool. So of course, in the inner circle and we talk about financial freedom, and I take it, financial freedom, as you said, 25 doors and that replaces your income.

My active income.

Yep. Right now means you're going from active income to passive income as the thing. So it's financial freedom. Would you consider that to be a goal for you?

Financial freedom is the number one priority. So, yeah, I want to be able to, if I choose to not have to essentially go to work again, and I'd rather just stay at home and have fun with my boys and my little girl and my wife, which is awesome.

And this is great. This is so cool. Because you're young, you got a family, you've got a wife and you have three children. Right? How old are your kids?

Five, three and one.

Okay, so you have a handful.

That's right.

And I want to come back to that because I want to talk about how do you build a successful real estate business as you're done, you're doing a lot of deals and at the same time have a family, be a husband and a father and a real estate agent. So I want to come back to that in a second, but I want to stay on this long term business plan for you. So your ultimate goal is become financially free. And how soon, how fast do you think you can make that happen?

2023, I believe it is. 2023 or 2024. I have to look to make sure what the year is. It's 2023, I believe.

Okay, so about five years out.

December 31st, 2023.

Okay, so five. You're basically five years out. And to do that, you said you want to own 25 rental units between now and then, and that will get you. That will replace your current income.

Correct. And I'm at 8, 8 right now, so.

So you own eight properties right now?

Eight properties right now. Yeah.

So how long has it taken you to do that, to own?

It's taken me three years to own those eight, which because of some other strategies I'm using working with my banker, that should. I'm really excited about what the future holds, so it should. It's gonna just. It's kind of snowball, and it's snowball effect, you know, gonna be getting some lines of credit here pretty soon. So it's. It's. It's pretty exciting.

There's a ton of stuff. This. You're kind of living this path that so many real estate agents, they want to live this path, and that is that they want to sell real estate to make money, but they ultimately want to be able to not have to sell real estate and have passive income. So you're at eight properties right now.

My biggest thing, kind of how I came to this conclusion, just to give you a little bit of insight, is when I got out of the military, the thing I said, I looked at as I was like, how do I make more money? And always in my head it was like, in order to make more money, I've got to work more hours. And so I never liked that idea because I was like, I got to work more hours, then how do I up my hourly rate? And then, you know, rich dad, poor dad came in. And then I listened to another podcast. The guy's name is Pat Flynn. It was the smart passive income blog. And just, you know, I love to learn. So, like, I'll look at one thing and then it'll be a rabbit trail into another and another and a north another. So the passive income is just makes total sense to me. I like to. I just like to have my money work for me as opposed to me working as much for my money.

So this is a big. These are big ahas and big strategic approaches to building your future the way you want it to go Work. You said used to it was dollars for hours. And it was like, how can I make. To you, making more money meant working more hours, and then it meant making more money per hour. How can I do all that? And then there was a major shift, the passive income. And that is, how do I make money work for me instead of me working for money?

And then there was another piece, which is the cash on cash return. You know what I mean? Like, real estate is really the only place where the common individual can still get in the game and make, you know, a lot amounts of money. Which the biggest ones I think are like energy, oil, you know, and then real estate, which I'm in the inner oil industry. You've got to have buku bucks to get into oil, you know.

So I've heard oil is huge risk.

It is. It is huge risk and it's huge return. But yes, that is correct. It is big risk.

So real estate, so you get eight properties right now. Are you making money on? It's every property, cash on cash return. Is every property making you money right now? Every month.

All of them except for one because I'm rehabbing the last one I just built. Right. Or just bought recently, which will be finished at the end of this month. We'll get a tenant in there and then. Yes, all of them.

Okay, so step one, property, you're still rehabbing it right now. Occupied. So it's not making you money yet. But once you get it finished in a month, rent it out, it will make you cash positive cash flow.

Correct. So the goal is always. The goal is always cash flow. So we, we. I invest a little bit for appreciation. That's just like the cherry on top, but cash flow is king.

And so guys, this for those of you that are not like in real estate investing is kind of the thing that you always wanted to do but don't know what's going on. Positive cash flow is how you win the game of real estate investing. Because if you're making money every what cash positive cash flow means every month I am making more money on that property than I'm spending. And that includes for everything, for property taxes, debt service, paying for that property, all of your management fees, everything, all that money going out that the rent of the tenant that is paying you leaves you profit at the end of the month, every month. That's positive cash flow. So you already have eight properties in the last three years. All eight of them will be positive cash flow within the next 30, 45 days. Once you get that other property rented, you don't. You're not buying anything that's losing you money every month.

Never every deal. Every deal I do is like a no brainer. If I took it to anybody, they would. They'd put their money in the deal in a heartbeat.

Property that if you needed to cash out, you could cash out and sell it all. Because every property makes you money every month, right?

I only have to have three and a half, really four properties because they're all leveraged with a loan, but four properties have to be leased in order to pay for, you know, the note.

Yep, yep. Okay, awesome. And then once you start getting some properties under your belt and start making some money. Now bankers want to give you money.

That's right. So we'll leverage, we'll leverage the properties, we'll get a line of credit. We'll use that line of credit to purchase the other properties. And then once you purchase that property, you just refinance it with the same lender and then you take it. You recycle the cash again.

Yeah, yeah. And they're coming with a lot of banks. There comes a limit where that you have like 10 or 12 properties and they're going like, okay, that's about as far as we want to leverage with one type of property. With some banks. I don't, I mean, are you with a local bank or a big branch?

I'm with a local bank. It's portfolio. So they're, they don't care. As long as the numbers work, we're good to go.

As long as you're making money. Good, because I got, I have a cousin that does the same thing that you're doing. And when he reached 10 properties, even though he was making money on every single property, the bank said, no, you're gonna have to go in and. Well, they were actually doing no money down financing for him. It was, there's ways to do that. Yep, that's good financing. So they said, now you're gonna have start giving us 30% down.

He's doing mortgages probably though ours are, they're commercial kind of somewhat commercial loans. So the interest rates are a little higher, but there's a little more leniency.

Yeah, yeah. So then there's different. But local banks have a lot more flexibility and they know the, they actually know what you're buying because they. That's their town. So a lot of advantages on building a relationship with a local bank. Man, there's so many great things I could ask you about here. So I got to ask them this. Why would you tell somebody who says, well, how do I build a relationship with a local bank?

I would say probably the initial thing I would do is learn how to find a deal and then you can, you can get the money. Because any, any. I found out what the parameters were for my lender to basically lend on any property that I bring to them. So I know it's got to be at least 75% of whatever the home is going to be worth. And you know, all in remodeled and all that. As long as I can come in at least 75%, he's probably not going to ask any questions. So.

Okay. So to put that in just kind of round numbers, if you have a property that is fair market value is $100,000, they will loan you up to 75,000.

Correct.

Okay, so whether you paid 100,000 for it or not, or you may have bought it for 60,000, put 15,000 in rehabbing, you've got 75,000 in it. It's worth the appraisal or comps would show it easily worth 100,000. They'll loan you 75,000 based on its actual value, not based on how much money you've actually got in it.

That's right.

So if you can get it for 75%, 75 cents on the dollar in terms of the actual money out of your pocket, you could literally get hundred percent financing.

Correct.

And you're with your bank, they're cracking.

They'Re cracking down a little bit on that now. But it's, you can work the numbers to where you can work it out.

And again, this is, you know, this is each individual bank, each lender has their own, their own rules, their own, their own limits and so forth. Have you used any hard money?

Somewhat. So I'm working on that now. I've gotten a private, it's actually private, so the terms are a little bit better in my favor. So yes, the one I'm remodeling right now, it's a private lender. I have to cash them out in six months. So that's why I'm trying to get it done and I'm refinancing it with my bank. And then they'll get their cash back. They got 8% on their money, they'll get their money back and hopefully they'll be ready for the next one.

Right. So there is going to get the interest rates going to be higher, but they, they can, they can be way more flexible.

Correct.

Because they're doing a higher risk loan. So they charge more. But it's a lot easier to get the money for you to be able to do the rehab repair funds and everything. Awesome. All right, so we may come back a little bit later to more than the investing, but I want to talk, I want to get back now to your, your real estate sales side because the financial freedom is down the road. But you're doing that track right now while you're also selling real estate full time.

Correct.

Okay, so let's now switch gears from the real estate investing side to the real estate sales side. Your first year, last year, first time, first year, full time, actually selling houses. Tell us, because last year you had this amazing Year. So tell us about that. What'd you do?

Yeah, so the first. Yeah, last year we did. I did 37 transactions, and then I think it was nine. I think it was 9.5 million to right around 245,000 in GCI. And then I was the top listing agent for. For Weichert in my region last year, I think it was 18 listings taken and sold. And I can't remember what the GCI is for the listings, but, yeah, that's about it. 37. 9.5 million. It's good.

So, yeah, so 37 total deals last year, 37 transactions in. That's your rookie year. 37 deals and nearly a quarter of a million dollars in income.

Correct.

Gross commissions. Yeah, that's good. So this is where people go, like, you know, how much can you expect to make your first year? So here's a disclaimer for all of you that are either if you're watching this, you're a new agent, or you're maybe not even an agent yet. And thinking about it, this is not average. This is not even. This is 10x or more. The average real estate agent their first year, probably 20x the average agent their first year, because the average agent their first 12 months quits. I don't think you're in danger of quitting. Here's then the big question. How did you do that? How did you actually build a business from scratch, going full time in January and literally making nearly a quarter of a million dollars in one year? How'd you do that?

Yeah, so the thing I'll say is, I mean, I just. I mean, part of the. My success goes to you. You know what I mean? I came to your seminar and I went, and you had a plan for what you need to do. So basically that's what I would say is that whenever I figured out I wasn't going to be working with my dad and I was going to have to support my family full time, basically I said, I need a plan that I know is going to work that I can put into place where I can at least have some results that I can expect to see a return on. And so I remember talking to Andrea, my wife, and I was saying, when I get, you know, when I quit my job or when I. When I'm done working, you know, not in real estate. I was like, I don't know what I'm going to do for the whole day. And now we sit back and we kind of laugh because she reminded me of the day. She's like, do you Remember when you said you didn't know what you were going to do, like the whole day? I was like, yeah, I do. So the thing that really got me is you said a couple of statements on that first seminar I went to. One of them was you said, if you do what I tell you, exactly what I tell you, in two years, you won't be able to recognize your life. I think that's one thing you said. The other thing you said is if you do exactly what I tell you to do, you role play people won't be able to say no to you. And then the other one was, is that you said, I can help you sell every listing that you take. So whenever I heard those three things, those were kind of three things that I hung onto. And I believed you. So, you know, you. You did a good job of presenting that, and I believed you and coming to the event, you know, and the guy that you are, I just said, you're my coach. And so basically, the plan that you have, the steps that you have in the program, that's essentially what I do every day. That's it, you know, and then I build. And oh, there is one other thing is the relationships. So you always say, concentrate on the relationship rather than the transaction. And so my life and for what I believe, I think relationships are everything. So that was one of the other things that really resonated with me, is that relationships, you know, I think that's the key to the key to everything. So that's just basically it. You had a plan, and I work your plan, and I, you know, I. The standard is the plan. I don't maybe not do it every day, but that's the standard. That's what I work to, and that's the reason why I've been able to, you know, have the success that. That I've had.

Awesome. Okay, so the first, you said the first. What was the first event you came to in 2017?

The Vortex.

February, right?

No, no, it was in August. It was in August. Yeah. So I got into. I got into mastery coaching. And then before I said I was going to basically give you any more money, I said, I'm going to come to an event because I got to see who you are. I mean, it's good to see you on TV and on video and all that. And then I went and I did the Vortex, and then I did a hundred day challenge. I signed up for the 100 day challenge, and then that kind of boosted me into my first year.

Okay, awesome. So all that happened last Year came to an event, three days training camp, and then you signed. You had signed up for coaching before that. Right.

This is 2016. So August 2016.

Oh, okay. So this was before you're even full time in real estate.

Correct, Correct.

When you're saying that, I'm like, I don't see how the numbers are working. The timeframe wasn't working out.

Yeah, yeah. 2016. And then.

Mastery coaching or the challenge.

I signed up for mastery coaching like in May. I think May or June or something. Then I came to the vortex in August or September of 2016. Took the 100 day challenge in December 26or, you know, right in there. Right. And then my first year officially started in January 2017.

Okay, got it. Because that's. You were still doing the other stuff and then you went full time in January. Okay, got it. So. So then last year you came to wlisting power training camp.

I've never been to wlistic power training camp. Yeah. Because my. Yeah. Had a couple of sicknesses, you know, that have stopped me the last two years.

You got three with three little kids and one was being born around the middle of that. I remember that was. That was happening as well. And then you joined the inner circle last year and so forth. So. But there's four things that you said really struck home with me. One is the belief that if I follow the game plan, follow a great coach, that in two years I won't be able to recognize my life. Now we're a year from that. You're over a year later. How do you feel already?

I already can't. I already can't believe it. Because. Well, I'll tell you now. So like now I've got, you know, 24 closed slash pending right now. Right.

And I'll make the first quarter of the year.

Right.

As we're shooting this video, we just closed the first quarter of the year and you're already at 24 deals.

Yeah. And I'll make like half of. I mean, my GCI will be half of what I made three years ago. So it's just crazy.

How long is it going to take you to pass? Because the last year, 245 GCI. How long will it take you this year to pass that?

Well, on this rate, it should be at six months. Right. A little before six months.

So you're on. You're literally on track to double your business from last year.

Correct.

So just. And guys, just think about this. How many people in Midland, Texas, how many people in middle of Texas have incomes of half A million dollars a year?

Yeah. I don't know. But yeah.

There'S not many. That's what's crazy to me. It's what's crazy. And this is like for just real estate in general, what's possible is, you know, the idea that I grew up with. My parents are both school teachers, educators. And so for me it was go to school, get a good education and then go get a job. So we spent four, four years going to college, which you did too. Went four years college, you did military and all that. Nothing against college or any of that, but what's crazy is that we go to college for four years and then go out and get a job that makes us 50, 60 thousand dollars a year. And here you as a come in as to real estate and first full time year, you had a little background in it. So we'll give you a little, you know, so we had a head start on it. But literally your first year full time, a quarter of a million dollars. There's not. What are you going to do coming out of college? What jobs are out there that a kid, that somebody could come out and make that kind of money? And the answer is there's not anything.

There's not. My goal was always a hundred thousand. Like that was like the big thing. Everybody you wanted to get to a hundred, 100,000. And what I like about it, there's no, there's literally no cap to what you can do. There's no, no ceiling.

You guys just bought a new house.

We did, yeah.

I was on a brand new house.

Yep.

Congratulations on that. So number one, you said knowing that if I do the right stuff in two years I won't recognize my life. That's happened. Number two, you said that you heard me say if. That if I, if you take the coaching, if you do what I teach you to do, you master it, people will not have the ability to tell you no, which is one of the promises that I make. So. But I teach. That's not for free. Right. You don't just. It's not like you sign up for my course or my coaching and all of a sudden that happens. What made that happen? In other words, what did you have to become master and do to get to a point where you feel like. And where are you in this process? Do you feel like, are you at a point where you literally feel like people can't tell me no?

To a certain extent, yeah. To a certain extent I do feel like that I'm not. There's other factors in there that get involved, you know, because we are people. So. But I feel like I already know what people are gonna say. I already know what I'm supposed to say. But the question is, is how do I, how do I make the personal connection with the other individual? That's, that's probably the real, the real key to it. So the way I think about it is like if I was gonna go to Florida, I'm gonna put it into the GPS and I know exactly the route that I'm gonna take. So what, you know, the scripts, the follow up, you know, all of that is, that's the route to get to the destination I want to go to. So if it's a for sale by owner, I already know what I'm going to ask them. I usually already know what the objections are going to be without, you know, their own personal, you know, whatever their personal things are in there. So I mean, it's literally, you just, you just know what's going to happen. It's just, you already, you just already know. And it's role play. So how you get there is, is, it's role playing. You know, obviously every day you got to know what to say, when to say, how to say, and then, you know, role playing, training, all of that. So just training, I think of it as just training every day and putting in the work every day is what I would say.

And I totally, totally agree with that. And your background was you've got background both in athletics and military. So let's kind of dive into that because I think a lot of that, one of the things that I have noticed in agents that I work with that tend to have the kind of success they you have. It's very not unusual for them to have had a background in competitive athletics. So tell us about your background playing football. Tell us a little bit about that and how much how that you think impacted your. The way you take coaching and the way you implement this, the mindset, work ethic and so forth from football and how you brought that into real estate.

Yeah, so I mean, basically it's, you know, you have a game plan. When you prepare in football, you play a different team each week. You know, so every week on Monday or Sunday, you come in with a game plan. It's going to tell you exactly what plays you're going to run, what defense the other team runs. I played on offense, so everything's from an offensive perspective, but you know what defense they're going to run, you know what their personnel is, you know what all that is. And then you run the plays all week. You run them every week. You run the same plays every day. I mean, the same plays every day, Every day, every day, every day. Against the same defenses. Every day, Every day, every day, every day. So basically you just drill and you do the same plays every day. And if you don't get it right, you come back, you make your adjustments and you do it again. You know what I mean? You just do it every day. There's. I mean, there's no magic bullet. There's no. It's actually pretty boring if you think about it. You know what I mean? I mean, you just do it every day. It's just a grind, but you just, you know, that's what you have to do in order to be where you want to be at the end of the, at the end of the season. So it's the same thing with, you know, scripts, role playing scripts. Every day, every day, every day. And then calling on, you know, the game is calling on your. For sale by owner. Expired or your personal circle, whichever one. And the thing that I think is interesting, it's really more a mindset than anything. So the thing that always used to bother me in football is we would practice a defense and we knew that a team was going to come out in a certain defense and you know, you know who their coaches are. So you look at their history and what have they ran at the other schools that they coached at. And then when you come out, the defense is totally different than what you practiced. You know what I mean? So it's like you expect one thing and then what you see is totally different. But there's literally nothing you can do. You just run the play and do you just fall back on your training? You might have had that defense a couple of weeks ago. So what you did a couple of weeks ago will apply to this week. So you just run through it, you come off, you get on the sideline, you game plan it, and you, you know, you play the rest of the game.

So, so you're, you're. When you play football, the game of winning championships, the game of the season was the real get. The real work was. Everything was preparation. Everything was preparation. It was preparation, training, drilling, studying the competition, what are they going to do? And then you practice. It's almost like you role play every single day. Getting ready for the game on Saturday or whatever. I guess college. It's Saturdays normally.

Yep. Saturdays, Yep.

So all week you're preparing for the game. That's the work. The work is all week. And then Saturday the big game is just kind of like you go out and you do what you've been training and preparing for. Mind and muscle memory. Everything is just like, you're ready.

Yeah. And the crazy thing about it is a football game is 60 minutes. And if you think about that, you only if you're on offense, even if you just say you play half the game, that's 30 minutes. You literally don't even play 30 minutes. So let's just say you play 15 minutes the whole time. So you put in all that work for a very minimal amount of time that you're gonna play on a Saturday.

Isn't that interesting? How many plays does an average offense run in a game?

I think ours was about 60. And I think they say an average play lasts anywhere from six to eight seconds or something like that. So I don't.

66 second, six or seven second plays. That's it.

That's right.

It's crazy. Yep.

And for me. So I was a little. I was a little immature whenever I played football. I didn't really, like, practice that much, you know, whenever I played and when I went through college. But you just did it. But as I look back, those are like the things that I look back on that I've learned. And one of the biggest, I guess you can call it, aha moment. Is I read relentless. And then I kind of started studying Michael Jordan and I just. You know, when you read about his story, he was cutting in high school, and it's like, he is the best basketball player, or some people argue. I think he's the best. He was the best. He's the best basketball player to ever play. And yet he was cut in high school. So it's like, it's not talent. It's not. You know what I mean? It's a matter of sheer desire and putting in the work to do that. Because if he was the best starting out, he would have never been cut on his high school team. And it took me, I probably was about five years ago when I thought about that, and I was just like, wow, Michael Jordan got cut. He did something in that time which, if you listen to his hall of Fame speech, he talks about the guy that got picked over him over in high school, and it lit a fire under him, you know, so it's like that just said so much to me whenever I heard that story, is that it's not about, you know, sheer talent. It's not about something being given to you. It's literally how much work, you know, are you willing to Put in the work. Are you, do you have that desire to overcome and will you do, will you do anything to get done what you want to get done? You know, so.

And the book, the book you referred to is the book Relentless by Tim Grover, who is actually one of Michael Jordan's coaches, right? One of his trainers and where he talks about how Michael Jordan was a one of a kind and how relentless he was in the preparation, that his relentlessness showed up on the training, on the practice court, not in the game, it just spilled over into the game. But where it really showed up was on the practice and training court. And I'll just say this because as somebody who's been working with you and coaching you now for a year and a half nearly, you are one of those guys that I work with, one of the coaching members that is one of the most coachable that I've ever had. You take the coaching, you take the training and then you implement, learn it and you implement and you're even your like your real estate investing stuff. I want to kind of come back to that if we have time because there's so much we could talk about that you've gone, you went to another seminar a few months ago to learn how to flip houses and you came back and implemented that. And like how many deals have you gotten since that time just from that strategy?

Four, but they're double ended. So it's. One of them fell through. So it's six, maybe six.

Okay, so you had four, basically four properties. You double ended all of them. One of them's falling through, but you brought three of them to closing. So. And that's just been in the last, what, three months? Four months.

Three months, yep. Since January, the end of January.

Two deals a month to your business because you're double ending these properties with one strategy that you added on to what you were already doing. And that is what I love is that you don't learn theory and then go like, man, that's awesome. You come back and actually put it to practice and do it.

Yeah, I guess. I mean, that only makes sense, right? I mean that's just, I mean, whenever I was. Because I had also had the opportunity to play in the NFL. So like I had a buddy of mine, he was training me and, and it's always shocks me that he would put a program he'll put up on the board, what we're going to do the workout is. And I'm like, I don't even want to know what it is, just write it up there and then we'll do it. You know what I mean? But everybody's asking questions about, you know, should I do this or should I do that? And it's like, no, he's the coach. He wrote it on the board. Just do exactly what he told you to do. And if I don't get the results I want, I'll either quit coaching. I'll either, you know, quit giving you my money, or I'll talk to you and we'll try to change it. You know what I mean? But at least do exactly what you've told me to do. If you've got the results to show that that's going to get the results I want.

That is crazy what you just said, because you didn't come in and negotiate with me going, like, well, I'll do that. But I don't like that. I don't want to do that. You just did everything.

Yeah. And I guess the mindset thing is probably the most powerful thing. The thing that I've come to realize is if. If I don't like doing it, then I probably should do it. You know what I mean? So just like, for sale by owners and expireds is the fact that nobody likes to get on the phone. So I want to get good on the phone, because that just makes you that much more valuable, you know? What other people aren't doing is what you should be doing, because that adds to your value, you know, and because you're.

One of the things that I've heard you say is there's no. And we've talked about this, but you put no competition. Yeah, that there is no competition.

That's right.

You become. You are the competition.

That's right.

I was asked. Because I was asking him. I was posted on our. In our inner circle group. I said, we're getting ready to make some new reminder bands that we put. And I said, what should we put on the reminder band? And you. You posted no competition. That there is no competition. You are the competition. And I love that strategy. Now, next thing that you said about the third key to your success was that you. That I taught you how to sell every listing.

Yeah.

So tell us about that. Did. Is that. Do you sell every listing? Is that what you do? Is that. Is that. Tell us about that.

No. So I don't really know how to explain it.

It's just.

You sell every listing. It's just the scripts and, you know, it's just methodical. And as you go through it, you know, everything just makes sense, you know? So as you as you talk to the seller, you figure out what they want. And if what they want is to get their home sold, then this is, this is how we do it. And I'm a, I'm an honest and upfront guy. So the thing is, is I've tried, I tried a few other trainings where you try to help a for sale by owner sell their house on their own and you do some other stuff and it just, it's just a lot of waste of time and nobody wants their time wasted, you know, so, you know, you just, everybody knows. I mean, I can tell you what a house is going to sell for almost exactly to the T. If it's a residential home and there's comps, you already know what it's going to sell for. So, you know, that's, that's the thing. So if I know what it's going to sell for, I'm not going to just list your house because you want to, you think you want to get something, it just doesn't work, you know, so you know what it's going to sell for. I help them come to that realization. We talk about it. If they're realistic, they're going to agree with me and they're going to, they're gonna basically, you know, list at the correct price. They're not realistic or they're not motivated to sell. Then, you know, we'll just always tell them we'll part as friends and there's no hard feelings.

Yeah. And so you sell every listing you take, which is awesome. So do you to do that, to make that happen, to actually get every listing sold? How do you do that? I mean, you like you do you sell them below market. How do you make sure every house sells?

You pull the comps, you know, you see what it should be listed at. And then, you know, there's a few strategies of pricing, you know, pricing it right has exactly to do with it and then making sure it shows, you know, shows and pictures and all that. But man, I don't know.

It's just those of you that are watching this, because this is so great to me, asking a guy that has been in my coaching basically from day one and you really were never taught any other way to do it. And I just always said, here's what you're going to do. You're going to sell every listing because you're going to lead the seller to the right decision, to price it right, to make it easy to show, to make a show great. You do everything right and it will sell for Top dollar, fast, every single time. And I told you that. And unlike a lot of real estate agents that I train, and especially those who just like, watch YouTube videos or maybe come to one event or whatever is. You didn't. You believed me and you're like, okay, here's what I got to do. He said, do this, this and this, and you actually did it. And now when I ask you, how'd you do that, you're laughing. Because to you, that's just the way you do it. It's the way it works.

I don't know any other way.

When you do something right, it just delivers the results. When it, when you do something wrong, when you don't get the results, it's because you're doing something wrong. And it's so normal in our industry that people do that. Agents are. Don't sell every listing. And they're not. They're even taught you're not going to sell every listing. And so they don't. And when they, when they hear somebody talking about, no, I sell every single listing I take, they're going like, no, you don't. You're lying. I don't believe. Because it's so, it's so rare. And yet the. What I believe is a yes master is you're a master not only getting them to say yes to you, but you're a master at delivering results. And you've proven it, even as a rookie that you can come in, you can take a lot of listings, get a lot of sales, do a lot of deals, make a quarter million, nearly a quarter million dollars as a rookie and not be wasting your time on properties that aren't going to sell. It's just powerful. And so I love the fact that to you, it's not even thinkable that this idea of, why would I not sell every listing? This is what you do.

Yeah, I think that, I think the key is your standard. Right. So what is. Whatever. What is your standard? And then you know what, whatever is the line that you're going to hold on your standard. So if the standard is selling every. Every house, or the standard is, you know, not doing what the seller. It's just, it's just whenever I took my test, it's a fiduciary responsibility. I've got to do what's in the best interest of the client. And like you say listing your. I just believe that listing your house high will get you the worst result you can. And so when. And when we talk about it, they, I mean, most people don't understand it, because I think selling, I guess it has changed a little bit selling real estate because now everybody knows what everything is priced at and cost and all that. And in the past you didn't really know. And so, you know, I just tell them, I say, if you list your house high, what are you saying? And they're like, well, I don't know, I'm like, you're already saying you're house is overpriced, like you're willing to come down. Why would you be willing to come down if it was priced right? You wouldn't, you know, and they're just like, yeah, I mean, that makes sense, you know, so it just, it only, it only makes sense.

That is because you, you know the truth and you are willing to stand by the truth for their benefit, not for your benefits, for them. Right. And you should have that straightforward conversation.

And it's both, it's both benefit. I mean, if I help them, I just know in the end if I help them, it's going to help me. The more people I help, the more money I make. You know what I mean? So even if I put people's interest above mine, I make, I end up making, I end up making more. You know, that's what a fiduciary, that's what a fiduciary is.

So I mean, alright, so then that leads to the fourth thing that you said. The fourth key is that focus on the relationship over the transaction. So talk about. And the first event you came to is called the real estate vortex, which is where we focus on leveraging relationships and systems to build a massive business. So talk to us about that, how that works for you. This idea of focusing on the relationship over the deal, over the transaction.

Yeah, so just by nature, that's who I am. I just love relationships. I love hearing people's stories. I love, you know, just hearing how they got to where they are, what they're doing right now, what they're going to be doing in the future, that sort of thing. And I'm, you know, I was always a popular guy in high school and college. I've got a lot of friends and all that. So relationships is just key to me. I think that's, that's all you've really got in the end, you know what I mean? So whenever you said that, it just resonated with me and that's just kind of how, I mean that's how I built my business. Now is, in the beginning it was a little tougher because nobody knew I was doing real estate. And so. And then. And then they knew I was doing it. But I guess you kind of wonder if you can actually help you get the results you're looking for, you know. So now that I'm helping people get the results that they want, and we're getting really good results, everybody's just kind of talking now, so it's really just kind of. Kind of blown up. So that's, you know, that's the key, is that you never know. I mean, my best friend, he's helped me with every real estate relationship that I've. That I have gotten. And we have not directly done a deal. You know what I mean? Like, I haven't helped him buy a house or helped him sell a house, but through him, I've got multiple transactions, and I've met people with other relationships that have helped me with my investing business and everything else. So through that relationship, he has helped me probably more than anyone else, you know, on that scale. And he hasn't even done it actual deal with me.

So he's like.

He's referred deals to me. And so just to give you a little example, like when I was doing my investing thing, I had another coach, and he's a pt, and he was actually working on the other coach's wife, and she had an injury, and he's like. And they were talking and he goes, you know what? That sounds kind of like what my buddy's talking about doing. And I said, dude, get his number. Let's go to lunch with him. And so we went to lunch with him, and then we started doing some stuff, and then we did a couple of deals together and, you know, just, you know, just kind of worked out through that. So relationships are the keys to getting whatever you want, you know, I love that.

So now one of the questions I'm sure is burning, and a lot of people that are watching this, their mind is, where did your business come from? How did you get 37 deals last year? All of last year, your 20, 24 deals, year to date, this year. How are you getting the business? How do you. Where's your business come from?

Yeah, so in the beginning, I just did everything I did for sale by owners. I did, you know, I called for sale by owners, I called expireds, I mailed for sale by owners, I mailed expireds, I mailed foreclosures, I mailed out of state owners, landlords, I got office leads, all that. So I did everything in the beginning. Now everything mostly comes from personal circle and then a lot of investment, investment channels, probates and, you know, foreclosures and that sort of deal.

Yeah. So you've really dialed in what's working for you.

Yeah, yeah. And so I just did. Like I said, I just. I will literally do anything, figure out if it works or not everything works. And then it's a matter of what is the best use of your time. You know what I mean? So I've done a couple of Zillow things as well. But as I look back, the number one focus for me should be my personal circle and the people I know and, you know, advertising, marketing to them, you know, coming soon, just staying top of mind with the people that I know. So. But I know a lot of people and I'm from this home, I'm from here, and, you know, so that's kind of my. My advantage, I guess you could say.

Awesome. So if you were. If you were talking to another agent, if you were talking to you, you're an ad. When you're getting ready to go full time and so forth, and say, okay, this. So you're. You today are talking to the you from a year and a half ago, right. In other words, today you're talking to an agent who's brand new and wanting to get started, wanting to do it right. What are the two or three things that you would say that you're like, I wish somebody had told me this sooner or that I would say, here are the keys to crushing it. Not only your rookie year, not only getting started fast, but being able to sustain it long. What would be the two or three keys?

The one thing I would say is knowing what to say, when to say and how to say it. So scripts for sure. The second thing I would say is just calling everybody and talking to everybody. So that, that falls in with knowing what to say, when to say, how to say it. So making sure every. Everybody loves to talk about real estate. So for me, I literally prospect everywhere I go because it's. There's. It's. I have to try not to talk about it. It's just. It's like everybody, for some reason, everybody wants to talk about it. So figure out how to help people in their situation. You know what I mean? Because there's. There's something in there that you can use with your skill set. You know what I mean? So that's what I would say. And then I would just say, take every opportunity that comes with you. Because I would take rentals. I mean, I've got. I had one rental, a guy he rented for two years, and then he bought a $450,000 house, you know what I mean? So it's just, and then he, he's a manager, so then he hired a guy and then that guy bought a 400, $400,000 house, you know what I mean? Which 400,000 is big bucks here in Midlands. So just take every opportunity, you know what I mean? And then help, I just say help as many folks as you can and then learn how to deliver the result that, that you need. You have to be good, you know, you've got to be good. You got to know what to say and how to say it and then take advantage of every opportunity. And then once you have too much work, business or, you know, there's never a time you have too much, but then you can start to kind of choose who you want to work with and how you, how you want to do things, you know what I mean? So in the beginning, what I saw is I would have a deal. And then if that one deal fell through, like you're going nuts in your head. So what I said is, my problem is I don't have enough deals because if I've got five deals and one falls through, I'm like, okay, you obviously want to still do that deal, but it's not as big of a deal, you know, when you've only got one or two. Because if you got two and one falls out, you're at 50%, you know, if you got one and one falls out, you're@0, you know what I mean? So.

I just wrote down the four things you'd say for a new agent. Number one is mastering what to say and how to say it, scripts and skills, how to deliver that. Number two, talk to everyone. And this is an interesting perspective. Everyone loves to talk about real estate. So that perspective you have mindset is really, really powerful because a lot of agents are going like. But I'm afraid if I talk to people and when I, you know, if I, if I tell people I'm in real estate, then they're going to be annoyed or feel like I'm begging for business or whatever. And your perspective is totally different. It's like I'm not dogging people about real estate, they want to talk about it, so I just engage in the conversation they want to talk about. And if there's an opportunity there where they actually want to buy or sell, the conversation is going to naturally lead to that, right? And they know somebody, they're going to naturally, it's going to naturally lead to that because you simply Engage in the conversation very naturally of something they love to talk about, which is real estate. That I think is really profound. And then you said, take advantage of every real estate opportunity, whether it's big or small, even the little rentals. You did that because one rental deal turned into two.

Almost a million dollars. Yep. Million dollars in real estate.

So you're talking 25, $30,000 in commissions because you were not, you weren't too busy or too good to take a little deal relationship. Instead of saying, how big is this deal, how much the deal gonna pay me, you just focused on the relationship. That's right, relationship. Even though that one transaction wasn't very much led to it, paid you over and over and over again. That is huge. And then you said, master, delivering results is learn how to get the results for your client. I think that is really huge. Okay, so one last thing I want to do that I wanted to ask you about was balancing or integrating being a full time real estate agent and an investor and a husband and a father with three little kids. How do you manage all of that without neglecting one, taking care of all that? Because everybody wants to know in real estate, how do I make money and still have a life? And not one of the things I love about you and your wife, Andrea, is that you guys still have a life.

Well, I guess you just, you guess you just kind of start with what you actually want, you know what I mean? So that's one reason why I wanted to do real estate is because I know you have that ability to do those things. So I just schedule it and plan it out. You know, I know if I'm, I just, I mean, I wake up at 5 o'. Clock. I know if I want to, if I want to train or if I want to have time for myself, I've got to do it before everybody else wakes up. So what that means is I have to get up at 5 and then, you know, from 5 to 7, I can literally do whatever I want to do if I'm at home, you know, and then if I'm at home, my kids are going to wake up, my wife's going to wake up and they're going to want my attention. So that's that. And then, you know, just during the work, it's just a schedule. You know what I mean? I mean, that's all it is, is it's a, it's a schedule. So I plan it out. If, if I want to take my son to school, then I just put it down from, you know, 9 to 10, I take them to school, and then from, you know, 10 to 11, then I prospect or whatever else. It's literally just. You just schedule it in whatever I want my life to look like. I. You schedule it in like that, you know, I mean, I think it's probably hard in the beginning. It's probably simple now because that's just what I do, you know, it's hard to think about in the beginning, but it's literally, what do you want? And then how do you. How do you get there? You know? Like, I know how many deals I have to do in order to, you know, make the income I want to make, so I know how many calls I've got to make. So if I got to make that many calls, how long does it take me to make those calls? Does it take two hours? Does it take three hours? If it takes two hours, then from eight to 10, I've got to make those calls. If I want to take my son to school, then I make the calls. From 8 to 9, I take my son to school, then I make the calls from 9 to 10, you know, so you literally just. Everything is in, which is crazy to me because I never thought about it like this before, but everything is literally mapped out in time. You can map it out in. In time. You know what I mean? So that's the way to break it down. But it is a priority for me to invest in my. In my family. You know what I mean?

So how many hours you actually think you sell real estate? How many hours?

Uh, it's probably about. I don't need, like, not, like, training and stuff.

I consider training a part of the real estate business.

Oh, well, it might be. It's. It's hard for me to say because, like, last night I'm just. I love it. So, like, last night I was watching YouTube videos about investing in real estate. So, like, even if I'm not. Even if I have time off, like, I'm. I'm looking at how to find deals. You know what I mean? So, literally, I'm all. I guess you could say I'm always turned on just because I love it, I like it. You know what I mean? So. But if it's literally just working, it's probably like 50 hours. I would say 50, 55 hours somewhere in there, right? But I just. If I. If I'm watching something, it's about real estate. If I'm watching something, it's about negotiations, because I love negotiations. I love talking to people. I love learning how to help people. And you know, help them figure out. Because it all starts in the mind. How do I help someone realize something? So I don't watch TV to just watch it anymore. I don't watch movies anymore. So I'm always looking for something to help. I see it as helping people.

That is awesome. So, man, there's so many more things I could do. We talked about. But we've done an hour, and I just wanted to respect your time, but also let you know, this has been like, gold, this conversation, because this is going to help so many people. So thank you so much for coming on and being a part of this. You mentioned the Real Estate Vortex was your first training camp. That training camp was actually coming up here. So we're going to post for all you guys. We'll post in the. In the link. We'll post a link to the Real Estate Vortex training camp, real estate vortex.com for you to find out information about coming to that. How critical would that be to helping somebody, really?

It's. It's everything, you know, I mean, I just talked to somebody other day. They're like, man, I'm going to do. We're talking about actually talking about joining the inner circle. They're like, yeah. Whenever I get to the certain point is when I want to join the inner circle, and I'm like, dude, you don't need to get to a certain point before you do it. Like, the reason why you're not at that point is because you're not in the inner circle. You know what I mean? Like, you. You're not gonna get where you want to go based off where you are right now, because you don't know. You don't know how to get there. You don't know what's coming. You don't know. So you've got to. You've got to do it. You've got to do it now. You can't afford not to do it.

That's. Yeah, that's awesome. And then. And the inner guys, the inner circle is our high, is the highest level mastermind. So it is for agents that are making the kind of money and doing the kind of business that. That Jacoby is doing, and nobody can. You can't just sign up for the inner circle. You have to be performing at a certain level. You have to have been through my training already, because when you come into the inner circle, we want to make sure that you belong. It's family. And yet, like Jacoby, the agents that come into that are agents that are adding six figures to their income. Every year there's qualifications to get in. And the kind of contribution and this is, I love about you, Jacoby, is that he comes on to these training calls, our inner circle calls, and he just, like all the other inner circle members, takes all the stuff that he's learning. And we have, we put him on the hot seat and he shares, okay, this is what I'm doing. That got me those extra six deals in the first two months. Because he actually, those actually happened like in the first two or three months, a couple of months of the year. And he's like, here's how I did that. So we're not. He's not bringing theory to the table and he's bringing, this is what I learned, this is what I did, this is what happened, and here's how we do it and that kind of stuff. And he's doing that with other inner circle members. And that's just the kind of stuff that happens when you put yourself around great people, when you put yourself into it, where you have coaching, but also where you have other top performers. And in a mastermind like we have in the inner circle is absolutely a game changer and it is great to have you. And in that inner circle is just phenomenal. So, again, thank you, Jacoby, for coming on and sharing with us. This has been awesome. And guys, thank you for joining us for this interview with the Best. As you can see why we call it the interview with the Best. Here's a guy who is one of the best in his, is probably the best in his market and is becoming one of the best in the world at what he does. And guys, every single one of you that is possible for you, just take what job he taught you here and say, I'm going to learn. I'm going to do this. I'm going to implement this. Even if it doesn't make sense, you're going to do it and you will win and you will always be able to expect. Yes, that's how it works.

Thanks, Kevin. It was an honor.

Hey there, it's Kevin. Did you like today's podcast? If you did instead, be sure to subscribe to the next one and tell a friend about us. If you want more free training and resources that are the best to help you get more Yeses with no BS, visit me@yesmasters.com until next time. Remember every day to embrace life, engage opportunity, and always expect. Yes, SA.