3 Keys For Success - Mini-Episode 1

Hey everybody, this is Toby with Global Integrity Finance. It is Tuesday at 2 o'clock and we're here to kind of go over some things that's going on this week about the 3 important things that you must have as a real estate investor and the things that you need to ensure and guarantee success. We've talked about those in the last couple episodes. We've had some guest speakers out here. We had Sam his wife Ashton. We had, uh, Tang and Eric also on the show talking about marketing, talking about wholesaling, talking about different things that they've done to become successful. But one of the things that we really want to, um, really dig into are those 3 things. One of them is finding the right viable project. Um, we all know that there are a ton of projects out there. There's a ton of properties But how do you, especially if you're a new investor, how do you know whether this project is going to make money? And there's no reason to even do a deal if there's not profitability in it. These are the kind of things that we want to talk to you about, really peel back into, um, an insured success rate. If you take on a project just because it's the only project out there and you lose your shirt, you go belly up, you're done. And we've seen it so many times in this industry where somebody gets a deal from a wholesaler or from just a seller. And they didn't do their due diligence, they didn't do their homework. They got into the project, they got into it way too much, purchase price was too much, rehab ended up being way too much. And then when they went to try to sell it, they couldn't sell it for a profitable amount. Their carrying cost was overwhelming, and they basically just lost their shirt. And we hate that. As real estate investors, as hard money lenders, as everybody that's in this industry, we don't ever wanna see a client fail because there's no longevity in that relationship. That deal is dead, it's over with, now we gotta start all over. So as a hard money lender, as a realtor, and trust me, we have a lot of realtors out there that work with Global Integrity Finance that are investor investor-driven, meaning all they do is work with investors to find those viable projects. So we want to kind of go over that. We're bringing in experts, we're bringing in people that work in this arena exclusively. And we want to share this information, share these nuggets, so that you can be a profitable investor. One of Global's taglines is we guarantee We ensure your success and profitability. As a hard money lender, that's huge. And people don't recognize and realize it, especially investors. Investors look at it as, oh, you just want to loan money out. That's not true. We're more invested in the success of this project than you are. We have money out of our pocket that we've lent to you. And if you don't succeed and there's not profit in it, number one, we all lose. So that's something that we always talk about. In all my videos, we talk about making sure that the money is right, that there's success and profitability in the project. But it doesn't take just the money to do it. It takes a whole team, a whole network, a whole process of knowledge, of dos and don'ts, of everything that's involved to ensure success and profitability on a project. I mean, how are you going to know that if you take down a project, if you've never done a deal and you don't have a coach, a mentor, a guidance, somebody that's invested in this project, how do you know whether it's going to succeed? And 9 out of 10 times you don't. This is one of the things that we see day in and day out. That is a huge high fail rate for most real estate investors. Now, a lot of them have enough financial wherewithal that they can get out of the deal so that they don't lose their shirt. But I must say, 6 out of 10, 7 out of 10 times somebody gets in a deal for the first time, they pull money out of their 401(k), IRA, borrow it from somebody or get partners on it. They get into a project, it becomes overwhelming, and they lose that money. And then they're back to their job. And nobody Nobody gets into real estate investing just to go back to their job. They get into real estate investing so that they can better their financial future. They can have a better tomorrow because they're sick of today and they're sick of yesterday. People have seen HGTV shows, they've seen the success, they've gone to these seminars, they've heard the success, they want to be a part of that. But the one thing that they don't do is they don't take it to the final stage of aligning themselves up with people that will help ensure their success, that will help guarantee success and profitability. And they have to have the 3 things we're gonna hammer, and we're gonna hammer, we're gonna hammer. You must have a viable project. You must align yourself with realtors. You must align yourself with wholesalers. You must align yourself with a network of people that can present to you a viable project. The next thing you gotta have is you've got to have knowledge. Just because you've taken down the property, just because you've put it under contract and you've closed and funded, doesn't mean you have the knowledge and the ability to hire the right contractor or to swing a hammer. Just because everybody knows how to go to Home Depot or Lowe's and buy a hammer doesn't mean that they know how to swing it. So therefore, you're going to have to outsource. And for those investors who are still working their job, they're entrusting in a contractor to come in and do this work. Again, if that contractor doesn't have a vested interest in your success, they're in there just doing a job. And this is where you have to be careful. This is where you have to have the knowledge, have a mentor, have a coach, have a support team that says, hey, this guy knows what he's doing. And as each stage progresses, they're continuing to do the work to ensure your success and profitability by doing the work right, by doing the quality of work that needs to be done, and not blowing the budget out. So that's number 2. Number 1, viable property, viable project, however you wanna label that. Number 2, knowledge. How do I know I've got the right contractor? How do I know the right scope of work? How do I know when something goes wrong how to overcome that hurdle and not, as one of my coworkers says, throw the baby out with the bathwater. How do we know not to just fumble and fail? Coaching, mentoring, being able to do 8 to 10 to 12 projects gets you that knowledge. And third and final, what we're gonna talk about and what we're continuing to grow upon is money. You've got to have enough resources, whether it's your own, whether you've saved up a 401(k), an IRA, a savings account, and you've got enough resources to not only buy the property, but to do the rehab, to put a 10, 15, 20% contingency on there just in case something does go wrong, to have the carrying cost of the monthly— Hey, Ry Ry, how are you, buddy? I love your show, man. Love watching you on LinkedIn and all that and all the interviews. You're doing good, buddy. Support you 100%. But anyway, back to the story. Carrying costs, you've got monthly payments, you've got your own living expenses, you've got so many things that have to happen during that time of taking on the project, rehabbing the project, and now selling it. And have you built in a profitability for realtor fees, for listing fees, for title fees when you sell it? I mean, have you done all the research and having enough money to to cover all that and then still make a profit. That is what is important and that is what guarantees and ensures your success as a real estate investor. It's only 3 things, but I guarantee you, we see so many investors who those 3 things, they leave 1 or 2 out or sometimes all 3. They go get a loan on a project that is upside down, that is— there's no profitability at all in this deal. I have a guy right now, broker brought us a deal, guy wants to cash out on a property that he bought for, um, $100,000 or $90,000. He bought it for $90,000. He wants to put $145,000 in the rehab, and when it's all said and done, ready to go, it's worth $220,000. Now what's wrong with that picture? Everything's wrong with that picture. So, but not having knowledge, not having understanding, not being able to lay that down and show line item by line item is where most investors mess up. Trust— excuse me— there's a lot of lenders out there that would just loan that money and say, hey, the burden's on you, buddy. Just make sure you make your payments and pay us off at the maturity date. That's why there's so many foreclosures in hard money lending. Global Integrity Finance does not do that. In fact, we're the ones that educated not only the broker but the borrower saying, dude, this deal does not work. There's no money in it. You're overspending on the rehab and it will not sell for profit. One thing that Global Integrity Finance will always do, and we will show you in writing, a guaranteed profitability. And if there's a guaranteed profitability on the deal, And there's a guaranteed level of success. I don't know of any other hard money lender out there that does that. These are the kinds of things that you need to look at when you're looking at building your team, your network, your support staff. Does your financial guy care about your success or does he only care about his money coming back? We look at it both ways. One is our money. We want it back. Number two, if you are successful, and you make a profit and we help guide and direct and help you dodge bullets, you're coming right back to us. There's a relationship built there, there's a partnership there, and we have a longevity of business to be had moving forward. So those are the things we're talking about. Now here's what's awesome. We have two amazing special guests coming in. I don't know if you've heard of this lady, but Christina Beckwith, she is 2020 Vision for Success coaching Now Christina has written 3 books. One is called Wise Eyes. The other one is Clear Boundaries. And the third one is Breaking the Cycle. And when you look at Christina's resume or her bio, this young lady grew up back in the hills of Massachusetts. And when I say the hills of Massachusetts, she was in the hills. Started her career, went into college, but during college ran into a friend who was in the mortgage industry, kind of got Embedded in that, fell in love with it, and over the next 30 years rose to be one of the top branch regional national managers in the Fannie Freddie industry. And was running, I think, and now Christine, you can quote me if I'm wrong, correct me if I'm wrong, we had over 900 salespeople under her. Number one, as any manager, as any owner knows, That's a feat within itself. But even back 15, 20, 25 years ago, to be a female rising through the ranks and running that big of a national division is astronomical. So Global Integrity Finance has hired Christina to come in. She'll be here tomorrow, coming from the East Coast. We're going to give her a big Texas welcome because yesterday the temperatures were in the 60s, mid-60s. Over the weekend, it was amazing. As everybody knows, tonight we're dropping into the, uh, 20s with some flurries of snow and ice coming in. So she'll feel right at home coming in from the East Coast to Texas. But Christian will be here tomorrow. We're going to do some interviewing with her. We're helping— she's helping us grow our business to become better at what we do, to become that go-to hard money lender. And then we also have the amazing Kaylee, the Apartment Queen, coming in. Now she normally would be here on a Tuesday doing this show with me, but she is— last I saw, she was Some Florida Keys somewhere on some big old fancy house. Um, but she'll be here Friday and we're going to be doing another interview with Kaylee. Uh, really peeling back how this young lady who, uh, got into the industry just a short period ago has blown up the industry in apartment financing, apartment acquisition. Um, if you've not followed Kaylee, the Apartment Queen, you need to. If you have any aspirations to real estate investing, this lady has it going on. So we've got two amazing guests coming in this week. We'll get them, uh, here on live camera. We're going to go through some Q&A with them. We're going to do some interviewing. If you have any questions for either one, Christine Beckwith or Kaylee, the Apartment Queen, you can shoot those over to us. Um, we will be live streaming both those people, but we want to know what you need to know as an investor, whether you're new, seasoned, Doesn't matter. You know, ask, ask away. What is it that they've done? What are the pitfalls? What would they not do if they could go back? These are important things to help you figure out the road most traveled with least resistance. And that's what you want to look for as a real estate investor is who's been down that road, who's done this, and why do they continue going this direction and not that direction. Learning from other people's mistakes makes you wealthy faster. Learning to be able to understand the dos and the don'ts, whys and why nots, this is huge. And what everybody needs to really recognize and realize is, is your own personal why. Why would you ever want to get into real estate investing? Why are you getting into it? And 99% of the time We hear people are getting into real estate investing because they want a better future. They want more control of their future. They want a better retirement plan. They want so many of the positives. The one thing that nobody recognizes, realizes, is that it takes a team. It takes mentoring. It takes coaching. It takes leadership. It's no different than an NFL player. Patrick Mahomes, my buddy, my new homie, Who is a great athlete, is an amazing athlete, and we all saw him all year long perform feats of superhuman naturalism, but yet he still has a coach. He still has a team. He still has support. He goes every day and works out. And all 66 players on every NFL team has a coach. Has a personal coach, has a team coach. They have accountability within themselves. These guys get paid millions and millions and millions of dollars, and yet they still have a support team. They still have coaching. They still go through day-in, day-out drills and workouts. If they do it, why don't we? Why don't you? If you want a better career, a better future, a financial success, why aren't you lining yourself up with teams, with coaches, with mentors and going through day-in, day-out scenarios to ensure and guarantee success. This is the one thing that Global brings to you with all our partners, with all our networks, with everybody that we work with. We want to wrap our arms around the best of the best in real estate investing, bring them to you on a daily platform so that you have the opportunity and the ability to have a better future, a better tomorrow. So stay tuned. Again, Christine Beckwith will be here tomorrow. We'll have 2 live episodes with her. And then Friday, we have the amazing Kaylee, the Apartment Queen, on, and we're going to go over her success. Each time we talk to her, it gets bigger and bigger and bigger. And we have so many others. We have some realtors that want to get on here that are solely invested in investor real estate projects. They're not looking for primary residence. They're not looking for your home of the dreams. They're looking for your ability to find good bottom dollar properties that you can make good profitability on. We have some wholesalers that are coming on and we have some contractors. So anybody that you need to get those 3 things under your belt, Global Integrity Finance will have them on our site, in our platform, and we'll be able to have that network open for you. So if you have any questions, comments, concerns, holler at us. But I look forward to talking to each and every one of you. Stay plugged in. Stay solid. I'll talk to you soon. Again, our phone number is 214-548-5190, or you can go to our website, globalintegrityfinance.com, and you can ask us questions there. Look forward to talking to you. Stay warm. Talk to you soon.