Deals From a COACH in the Wicked Smart Community

Welcome to this week's Deal Structure Sunday. We are going to dive into Certified Coach and High 6 member Rick Abbiati's portfolio, and you're going to see his journey through the process here with us at Smart Real Estate Coach and an important milestone of $1 million. Check it out. What you did before and, uh, how long you've been with us and anything else you want to share with that.

Sure. Um, so I For nearly 40 years, worked in the defense industry, former Navy, and I was a systems engineer and then went up through management up to the director of engineering level. So I managed about 180 people at one point. Joined Wicked Smart in May of 2021, 90-day jumpstart, and the eyes got opened within about 45 days. So I upgraded to starter. Awesome. And then six months later, immersion, and just about six months later, high six. So, and then left my job just a couple days short of two years after being in the community, and then became a full-time coach. And I've been doing that since May of last year.

May of twenty three. Yeah, right? Yeah.

Yep.

Awesome. So you mentioned ninety eight jump style. I just want to say something so these guys are clear, and thanks for the. Summary, they can go back. You guys can go back to the other two episodes of Gabe and get a lot more detail on on Rick, and you could also have the opportunity to coach with him should you decide to look at the Wicked Smart community. We no longer have the ninety-day jumpstart that Rick referenced. We do have a less expensive, much more robust actually program called the Apprentice. I would encourage everyone before Rick and I jump into we're going to show you his portfolio actually, and if you're driving. Or listening audio only, you'll get the gist, but you're going to want to go over to YouTube, go over to Smart Real Estate Coach YouTube channel and check out what we're doing here because we're going to do what I call wealth stacking. We're going to talk about his portfolio a little bit and you're going to see what he's accomplished in the timeframe he just gave you. Rick's one of the few— there's a few that have done every level in the company and just kind of hop, skip through them to get to the, to the top level. Some jump right to the top and Rick just had to go through the process and learn more and more and get more confident as he went. The apprentice program to check it out is smartrealestatecoach.com/apprentice-pod for podcasts. Okay, so smartrealestatecoach.com/apprentice-pod. All right, Rick, I'll ask you for some comments for the Wicked Smart listener later, right? Just kind of your gut feel because you've been hanging out with us and doing the boot camps and everything. Before we do that, let's pull up your portfolio. Take a peek at. So as Rick pulls up this portfolio, guys, what, what you're gonna see here, we'll try to talk through some of it for you guys on audio, but I'd much rather you go to YouTube and check this out because it's quite impressive. Um, Rick, let's walk through what we're looking at here. I guess let's go 10,000-foot view first to set the scene for those that are only on audio. So in the course of your, your journey here with the Wicked Smart community, It looks like there's 11 deals on this board, correct?

10 deals.

10 deals. Okay. Well, because one not sold, correct?

Right. Yeah.

So your numbers are shuffled up. I got you. So there's 10 deals showing here. All right. And is your brand new deal that we're working on as we speak on here yet or no?

No, it's— I have it on a different spreadsheet, but rejected. That's— that has that on there.

Okay, so let's go back to the first sheet. On this sheet, deals done, we have created, uh, how much in the 3 paydays total?

The 3 paydays, uh, $817,189.

Okay, so for those of you on YouTube, uh, and if you're not, please get your butt over there eventually. You can see column P is his payday 1s, payday 2s is column R, and payday 3s is column S, to total them all out at column T. So pretty cool for you guys to see this journey. And then it actually, in the columns K, L, and M, Rick, you've got deals happening between July of '22 and now, right? That's basically the run.

Yes.

Okay, let's, uh, let's see average payday ones just for the, uh, audio-only people listening.

It's $30,387.

Okay, so for those of you that might be new, we have our federally trademarked 3 payday system. Payday ones are the upfront down payment because we deal with buyers only, true buyers that need time. So average a little over $30 grand for his payday ones. That was dragged down by a small AO, so that's a true average. Payday 2s monthly spread between paying a seller or paying the mortgage and what we get from the tenant buyer for you is— where are we? I see it. $329?

$329. Yep.

Okay, awesome. So full term on all these deals, it looks like just on a $15,000 in payday 2s.

That's correct. Yeah, because most, uh, in fact every one of them that have cashed out, which are in the lighter blue, um, hit the payday 3s, uh, they cashed out shorter than the projected time, much sooner.

Which dragged your average down a little bit, but good for the buyer and good for you to keep the cash rolling. Uh, total payday 1 looks like a little over $300 grand. Talk about Payday 3s a little bit. How are we looking there? Total and average?

Payday 3s total is $369,356 and the average is $36,936.

Okay, so approaching $370,000 on Payday 3s alone and approaching $37,000 on the average. All right. And the total we said earlier, just for the listener, is $817,189, totaling $81,000. Average, 81,719 average.

Yep.

Okay, I know this will invite questions, so let me let me do this for the Wicked Smart listener. If you have questions on Rick's portfolio, just go ahead and send an email to me personally, Chris at smartrealestatecoach.com. Happy to help you understand what we do here. When I use the word wealth stacking, also something we've trademarked, what that means is we're not going to do it here live, but what that means is what When Rick or anyone has, say, 5 deals or more, could even be done at 3, we start looking at the terms on the deal with the seller. For example, is anything owed 3 years from now, 2 years from now? And then is that a sandwich lease instead of a sub-2? Do we want to convert that to sub-2 and extend this deal type of, type of logic? So wealth stacking just means massaging the portfolio, creating longer-term deals if that suits You as a Wicked Smart community member also creating sometimes a payday, what we call payday 4 too, and even a payday 5. And how we do that? Well, we take a lease purchase or a sandwich lease, turn it into a sub-to, then we could even turn the— so we just extended our term, essentially increasing our profits. Then we could also turn around and owner finance the buyer instead of doing a rent-to-own. Now you become the bank. Now you create another payday. Another set of paydays. So all kinds of things we can do here. And I say that as a disclosure for those that think in the creative financing realm and in our niche in particular with the Wicked Smart community that we have to cash out of these properties all the time. Now, Rick was new. Rick, you can comment on this, but you were new and you were leaving a job. So your goal was to cash these out and they cashed out, right? Any comments on that?

Yeah, exactly. Long-term, over time, I will become the bank and and owner finance when the situation is right. But I was looking for the— to build up enough capital. So that's why I decided to do that. And I did leave my W-2.

So yeah, let's— before we toggle to your projected screen, because I know that is counting some new deals we're working on. Well, you had 100-something employees, you said, under you, 180 or something. So the big thing that comes up, as you know, as a coach, Always is. Well, I my time, my job. Always, always, always. So what would you say to them? They're listening. They're hearing this in January of twenty-five. They're looking to perhaps leave their job in twenty-five or twenty-six. What would you say to them as far as a time standpoint? Any any nuggets?

The time, although it's a challenge to get through, once you kind of nail it down, what you did with me, Chris, is. Had me write down every 15 minutes during the day what I did for a week. And we went through that and found out that we could come up with some time, be more effective. The other thing I did is typically my lunchtimes were 12:30 to 1:30, so I would schedule a time there to make calls. And then I would go from like 4:30 till 6:00 PM. making calls. Now, a lot of times my lunchtimes would get eaten up by, you know, when you're managing a lot of people, a lot of times that time just goes. It's a working lunch. So I set aside some extra time, fallback time, which is usually on Fridays and Saturdays to make up those hours.

Yeah, so it's not because I hear this, and you and I heard it recently from one of our students, it's not, oh my God, I got another job. It's, I have a plan to burn the candle on both ends for, in your case, 2 years to be done. Did I summarize that properly for you?

You sure did. And it's just an absolute wonderful feeling.

Yeah, especially when your first check was $90,000. That didn't hurt the whole process. All right, Rick, let's toggle to projected and tell me what we're looking at there. I'm assuming it's this sheet plus deals you're working on.

Plus another deal that I'm working on.

Just one.

The 2—

walk us through that one deal, Rick.

So this one deal, it's actually— it's actually a little— bear with me here. So this one deal, I just lost my window. I have to edit this out.

Yeah, he'll edit.

Okay. So the one deal I'm working on, my VA contacted him about a week ago. And I got on the phone with him and he was very open to a sub-to-owner finance situation. He's living in the house part-time and he hasn't been able to sell it. And he made it clear he did not want to go through a realtor and give away that commission. So this fit perfectly. So I, rather than usually what I'll do is if he's that interested, I'll just schedule an appointment. In this case, I sent him the The sell doc, which is just an introduction to what we do, and the link to my website. And I did that on Monday, told him I'd follow up with him on Wednesday, yesterday, and he emailed me the day later and said everything looks good, when do you want to meet?

Awesome.

So I called back yesterday and I got an appointment with him tomorrow.

Tomorrow, as of the time of this filming. So when you guys hear and see this, sometime in January, if you're on the podcast, if you're on the Deal Structure Sunday, I don't know when you'll see it, but Rick should have it well underway. And no pressure, Rick, but hopefully you'll have it sold, and then we'll do another Deal Structure Sunday and we'll walk through it. But for the sake of just summary, can you slide over to your right and walk us through verbally, in case it's audio only, what are the paydays on this deal projected?

The payday— projected paydays on this deal are a total of 196.

So just under $200 grand.

Yeah.

This will be a record year.

Yes, it will. And the total 3 paydays with that deal combined just puts me over the million.

Just over a million. Pretty sweet. So you're going to be going into, let's just hypothetically say, '25. This deal gets signed and we get it sold in the first quarter. We're walking into '25 going over $1 million and you're just shy of whatever it is, 3 years, 2.5 years?

Just shy of 3 years.

Just shy of 3 years and—

Just shy of 4 years.

Just sorry, 4 total from 90 Day Jumpstart on. Last minute thoughts that we should impart on the Wicked Smart listeners, or call to action for 25, or anything like that? Like, just whatever comes to mind.

I think the biggest thing in my mind is the return on investment in joining this community and taking advantage of the opportunity. Just, you can't match it. Um, it You look at the High 6 when I paid, you know, invested $100,000 in that. But to get a return on anywhere from $800,000 to $1,000,000 in that short of time is unbelievable. It really is.

You're at a 10x almost once we get this deal done.

Right, right.

Sweet, sweet. Rick, I appreciate it, buddy. We left some things hanging that we have to come back and do, and that is going to be one is to finish that Sturbridge deal. When you get it done and sold. And, uh, hopefully you can do that in the next 60 days. No, no pressure. All right, thanks for being on again, buddy.

All right, thanks a lot, Chris. Take care.

All right, Wicked Smart listeners, that wraps up our time together with the master, Rick Abbiati. He's simply awesome, and it would behoove you to come hang out with us at our In the Trenches boot camps here in the office. They're very small, they're very private, they're in our office with myself, with Rick. That's why I'm bringing it up. with my son-in-law and partner Zach and my son and partner Nick. And there's 4 of us in a small conference room. The conference table holds like 10, and we put some extra chairs in there, and we hang out with you for 2 and a quarter days— 2 and a half, really. Um, can't get more hands-on than that, guys. And I promise you, once you learn how and why, what we do, when we do it, etc., you're gonna leave with deals potentially. And if you can leave a boot camp that's free, by the way, for all apprentices and associates— you just got to find a way to get here— If you can leave a boot camp that's free and leave with a 3-payday deal that's somewhere between $45,000 and $350,000— Rick's average around $80,000 or $90,000— wouldn't that not be an amazing experience for 2025? I think it would be. Let me give you the link so you can understand what the boot camp is. You can go read it and listen to some videos. However, it's free with Apprentice and Associate, like I just said. So for more on the Apprentice Pro— sorry, more on the In the Trenches program, go to smartrealestatecoach.com/ittb. It stands for In the Trenches Boot Camp. ittb-pod. So smartrealestatecoach.com/ittb-pod. You guys would be extremely well served by getting in and doing one of those with us. If you're hearing this in January, there's one next week, and then there's one in March. I would again urge you to get on that list because they fill quickly. If they're already filled, then just ask support@smartrealestatecoach.com when the next one would be, because again, we do fill them quickly at that size. All right, everyone go off and make it an outstanding 2025. Don't waste at all the rest of January so you can at least jam in 2 weeks or so, depending when you're seeing this, of the year here so you don't waste 1/12 Already coming February for us. Let's make it count. Make it a great week.