242: How to Live an Incredible Life Now & Achieve Early Retirement with Josh Randall

This is the Bigger Pockets podcast show. 242, for the most part.

I always tell people this. Compared to having 70 employees, real estate is a piece of cake. I'm telling you, I could do that with my eyes closed. It's easy.

You're listening to Bigger Pockets Radio, simplifying real estate for investors large and small. If you're here looking to learn about real estate investing without all the hype, you're in the right place. Stay tuned and be sure to join the millions of others who benefited from biggerpockets.com your home for real estate investing online.

What's going on, everybody? This is Josh Dworkin, host to the BiggerPockets podcast, here with my Disobedient Co host, Disobedient, Mr. Mr. Brandon Turner.

That's a weird phrase to use. Like, am I like, your. Your kid now?

Like, I don't know, you're, like, mocking me as I'm doing my intro. Outro. I was pretty disobedient. That's the wrong word. But what are you?

What are.

What was it that was to lean over.

You can grab a paddle, spank me.

If I've been disobeying.

Not a. Not a. Not a nice person, sometimes. Granite.

That's. That's what, like.

For any of you guys who want to know what just went down, you know, go to YouTube and check out the Bigger Pockets channel at YouTube.com Bigger pocket. Bigger pockets. And check out the show. I have a bigger, Bigger, Bigger Pockets.

Speaking of that. Speaking of bigger.

Now you're making fun of how I speak. And, wow, it just continues.

I've been working through Parks and Recs, the show Parks and Rec, which is an amazing show, and I'm almost done with it. I'm in the last season and one of the last episodes. Anyway, there's a scene in there where one of the guys says something about. You argue about everything. You argue about pockets. And she says, well, I think they should be bigger. And I was like, bigger pockets.

Yeah.

Awesome.

Anyway, Made me laugh.

That's great.

Okay, so anyway, today's show.

How you doing?

Is.

I'm doing. I'm doing good, but I'm doing better now. I'm actually pretty pumped up because of today's episode. We just recorded this episode, and it was like, I would say, easily one of my top three favorite shows I've. We've ever done, I guess we've ever talked to. I. I don't know. I really got a ton out of today's show.

200 people feel really Bad.

I know they're all going to be like, well, they don't know. They might be in the top three as well now. But this show, like, man, we talk about everything from like using Facebook to get leads for your rental properties to why he owns a limo hummer. Like a 34 foot limo hummer. It's actually a really, really cool idea. I'm going to start looking for a limo Hummer. And like, I would say it's one of the funniest shows we've done.

It's great. And I think one of the most important things about this show for me, and I think for any listener, was the idea of why, again, this is something we continue to talk about is what is your why? Why are you doing this? Why are you getting into this? How do you do it in a way that helps you build wealth but also rewards you and makes you feel good and gets you on board? It's great. This is a great show for everybody. So definitely tune in. But yeah, well, I guess we're not doing any small talk here, Brandon.

I'm writing on it.

But we do need to get to today's quick tip.

Tip.

You want to take it?

I will take it. All right. Today's quick tip is very, very, very simple. If you are not following us on Facebook, you should go follow us right now. Like pause the thing right now. Go over to your. On your. On your phone anyway, probably. So go to your phone if you're driving. Do this later. But go and follow us and go to facebook.com biggerpockets and follow us there. We just post a lot of cool stuff there all the time, in fact, like our channels. Zach runs it. He's awesome. So anyway, follow us there.

Awesome. Very, very good. Very, very good. All right, guys, this is show 242 of the BiggerPockets podcast. You could check out the show notes@biggerpockets.com 242 and I want to ask you guys for a favor. Please, please, if you like this show, if you love this show, if you're addicted to this show, go on itunes, leave us a rating and review. Let everybody know how you feel those ratings and reviews and help us. As of this weekend, I was looking and we were ranked number eight in business. We were ranked like 147 of all podcasts on itunes. Fantastic. But we could do better and we need your help. So leave us a rating review and if you don't like us, don't do it. No, be honest. Leave us an honest review. Yeah, yeah, that'd be really helpful. With that said, let's get to this thing. Let's get to this thing. Today's guest, Josh Randall from. I don't know, I can't even find it on a map. Kentucky is a successful real estate business still. Oh, my God. A successful real estate investor and business owner who's just got a great philosophy on how he does things. Good guy, funny. And has tons of great things to share on today's show. So listen up.

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Let's bring them on. Josh Randall.

Hey, guys.

Welcome to the show, man. It's good to have you.

Hey, Josh. Hey, Brandon. Thanks for having me on. I really appreciate it.

Yeah, this should be a lot of fun today, especially since I don't. Have we ever had a Josh on the show? Show. We must have, but I think we've had one.

It'll be confusing.

Yeah, it's gonna be weird. So I'm gonna be like, hey, Josh, you're a good looking guy and you don't know.

Well, thank you. I don't know.

You could do J.R. which also are my initials.

Yeah. J.R. dorkin and Josh Randall. Weird.

Yeah, yeah, yeah.

All right, well, we're gonna. We're gonna try to minimize the confusion by just having Josh Dorkin not talk much.

I'm just not from Kentucky, so the listeners will figure it out.

Oh, yeah, really quick.

Yeah, that'll be obvious. So.

Yeah, well, cool. Married to my sister, too. You're not married to your sister.

Yeah, baby, that's what I'm talking about.

That's. That's a little. I didn't.

Weird. You said it. You dishonored our name. But, you know, you knew it was coming. I knew it was coming. I was gonna say it, so you just beat me to the punch.

It's great.

I love it.

I love it.

All right, man, let's get into this thing. So, Josh, you are an active real estate investor with a growing portfolio. Where did this all get started? From what you do before. How did the idea of real estate come up? How'd you get started?

Good question. So I own a printing company. Actually, me and my father own a printing company. My dad started a business in 1984. I became a half owner in 1995. I've been doing it ever since I was 10 years old. I'm 42 now, so 32 years. I've been in the printing business. So when I was 31, almost 32 at that point, I had been in the business 20 years, and I met a gentleman named Tim Shiner who you all did a podcast with. It's actually podcast number 221.

Nice look at you, all prepared.

There you go. And so I was over his house. We went to a Cowboys game, I flew to Dallas.

Oh, Cowboys. Come on, come on.

Big Cowboys fan, man. Got it.

Well, we have five super bowl rings. But anyways.

So I was down there and we were just talking about retirement plan because, you know, being a, an entrepreneur, I, I wasn't heavily invested enough. Stock market, didn't have hardly any investments actually. And I was just running around like a chick on my head cut off, trying to grow the business still. And Tim basically gave me some great advice. He said, Josh, 10 years is going to go by whether you own real estate or not, and you'll never buy anything else that somebody else will pay for. And I thought, you know what, that makes good sense. And he was the guy driving around in the black Lamborghini. So I knew he knew what he was talking about. So he literally told me. He said, you know what? He said, it's all about setting goals for yourself and rewarding yourself. He said, you can't work enough hours to get wealthy and what you're doing. And he's right. I mean, it was going to take a ton of. Bit sour. So he said, you got to leverage yourself off by buying real estate. He said, what's a car that you like? And I said, man, I'm from near Bowling Green, Kentucky, where the Chevy Corvettes made. Everybody likes Corvettes back home. He said, I thought you were going.

To say like a Pinto or something.

Well, I like Pintos too.

But, but the Corvette, he. So here's what he said. Go back home, try to find a real estate deal. He said, how much money do you need to make to justify buying a new Corvette? And I said, if I can make 20, 25 grand in one deal, I'd go buy me a new vet. So I did. I came back home, started looking around for a real estate deal and bought this little mini mall. Ended up making about $40,000 on it. So it was my first deal and I got on ebay, bought me a brand new Chevy, bright yellow Corvette convertible stick shift. And I bought it to reward myself for doing that. And ever since that day, I realized you can make money in real estate. You just gotta start looking and you gotta have a purpose.

I love it. So your Purpose to start was by the damn vet.

Which.

What color was it?

It's bright yellow.

I figured it would be bright yellow. What other color would you. Yep, yep, yep. DB man. DB all right.

Okay, Josh, so I could say that, right? On a radio.

Yeah, say what you want. This is your show, man. It's all good. All right, so you, you. You went and did a real estate deal because you wanted a new poor vet. And by doing so, you proved to yourself that real estate could definitively be a means to an end for you towards not just a vet, but retirement as well, Correct?

Absolutely.

Okay, cool. So that first deal was a mini mall, right?

That's right.

Let's talk about that. Never heard a guest saying their first deal was a mini mall.

So. Yeah.

So what are the.

What, what did that look like? Like, describe the mini mall. How'd you find it? What'd you pay? What did you do and how'd you sell it? Obviously it sounds like you flipped it, so.

Yeah.

What'd you do here?

So at that time, like I said, 31 years old, my dad, that was the only time ever since then it's been the mini mall was the only thing I ever went in partnership with somebody on, and that was my dad. Right. So we bought it originally for. It was $40,000. And we ended up selling it for $40,000 for.

For the part. The parking lot for the driveway.

Yeah. Now, welcome to small town central City. The property is not the same as it is everywhere else. As a matter of fact, to change, go. Go a little different direction real quick. The building that I'm in now is 22,500 square feet. It's my printing company.

Right.

Gave $240,000 for it. Now they were asking 340. I made them a one time offer, told them that if. Basically I'm going to build something if I don't get a good deal on it. And because I had seven acres and they took my offer, bought it for 240,000, we put 100 grand in it. The appraisal is a half a million.

Yeah.

But you move this building 30 miles north and it's a million.

Yeah. So you're in, as we like to say, Podunk, right?

Absolutely.

Okay.

All right.

All right. So you paid. And we should talk a little bit about Podunk and investing in Podunk. In fact, Brandon, I think has a story he wants to share about investing in Podunk, which he was complaining to me about earlier. But you know, it's convenient. We got two podunk guys here but you paid $40,000 for this thing. Like what did it include? Like what was, what was the mall?

It was a. It used to be like an indoor flea market. Okay. So if you can. It's. It was sectioned off and in the very back it actually had like a room set up for somebody, like living quarters. And it actually had a brick house on the property as well that went with it. That was about 1200 square feet. It needed a lot of work. But we bought it mainly for the building. And right off the bat, before I sold it, I got online, found wholesale hot tubs. Bought about three tractor trailer loads full of hot tubs, which was about 45 units, and marked them up $500 each and sold them all within about two months time. Wow. So actually made 20 some thousand dollars on that deal as well. In addition to selling the property. So while I had it sitting empty, I was selling hot tubs out of it.

So. And was. Was the hot tub thing designed so that somebody could see what it would look like to have stuff in there, or was it just like, I'm gonna buy some hot tubs and sell some hot tubs?

I just wanted to put something in it that I could sell, somebody could back up. I'm like, I'm not warranting the hot tubs. You're getting a brand new $6,000 hot tub for 2500 bucks. I'd pay two grand for it. So they're saving a lot of money. They back up with the trailer, man. Four other guys would load it up into the trailer and they drive off.

This is some Kentucky business right here, boy.

Yeah. Willing and Dylan, I love it.

Hysterical. All right, so you paid 40k, did you do any work to the property?

Absolutely nothing. And sold it for $120,000 about two or three months later. Wow.

Wow.

And then how were you able to do that? Two to three months later?

It was worth it. You gotta understand, there's very little commercial buildings here.

How'd you, how'd you get it for 40k then if it was worth a hundred plus?

It was a guy that had it, it was an older gentleman who had it for years and sit empty. And basically I say it was going downhill, but I mean, he, he was just ready to get out from underneath of a lot of different properties that he had. He was actually a retired minister. So he was just looking to get. And, and honestly I didn't even have it appraised. I just bought it. Yeah, we went and have just bought it. We knew it was worth more Than that. We didn't know how much more than that.

Right.

That's a cool first deal.

Go ahead.

I was gonna say, yeah.

Yeah.

That's inspiring. So how did you go from there to. Well, let's actually fast forward to the end of your. I mean, what have you done total now and then we'll back up and go through your story. Like, what do you do today? I mean, what's your portfolio like?

All right, Well, I work 12, 15 hours a day at my printing business. We have 70 employees. We printed $7 million worth of T shirts last year. That gives you a kind of volume how much we're going through here. So I'm working my butt off here still, but I enjoy it. But. So that tells you how much time I actually have to devote to real estate. And I have 50 houses and 40 apartments. And people tell me all the time, how do you manage that much property? Do you have a property manager? Honestly, my wife, she works up front here in the printing company and she keeps the books. People turn receipts. So people walk in a lot of times, they pay the rent here and she keeps up with the money. But for the most part, I always tell people this. Compared to having 70 employees, that is a piece of real estate is a piece of cake. I'm telling you, I can do that with my eyes closed. It's easy. So I have about nine guys, that's including a painter, maintenance guy, construction guys. And I give them a work order every morning. And I give it to one guy and he takes out and takes care of everything that needs to be done. So that's basically where I'm at. And I'm buying about a house every four to six weeks right now. And being in the small town has its advantages because I'm kind of known as the guy that buys real estate. I tell people up front, look, I don't need it. I'm not living there. I'm your last resort. You want a good deal, I can write you a check for it. I'll get a title opinion done. As long as there's no liens against it, I can close on a deal in three to four days.

So by doing that, I mean, I get a lot of good deals. I'm actually in the process of closing one right now. Five bedroom, two story house. You won't believe it. It's got a garage, it's moving ready 10k, 25.

25. Wow.

Yeah. And it'll rent for 650amonth here.

Wow.

So are you doing marketing? I mean, you Got billboards out there and stuff like that. Or is it word of mouth or.

It's all Facebook, really.

Facebook.

So I'm telling you, this is funny because we have what's called for Rent in Myanmar county, you know, a Facebook page, a group, and there's several groups like that in this area. We have a lot more renters than homeowners now. It's just kind of trended that way. I posted a four bedroom house last night on pursuit in Mumbai county or for Rent, Mumbai county, and it was rented within an hour. Wow. So I. And I. And I've been getting calls all day on.

That's actually a fascinating thing. We don't have a local Facebook group.

In my county for landlord or.

Yeah, Grays harbor, like where I live. Grays Harbor County. Grays Harbor County Rentals. And invite other landlords.

City Rentals, my Central City Rentals. That's what.

Who runs that group?

I do.

So you created the group.

I created the group and what it allowed me to do to. It's take albums. So I, I have, I use tenant cloud, a cloud based program. But. But also before that, what I would do is I upload the pictures. So when my guys got done remodeling the house, I take pictures rather than keep it on my phone or my personal Facebook, I'd upload it to Central City Rentals and I'd have an album there that I could just easily share when it came open.

And you let other people in, your other landlords in the community also share?

Yeah, I will. Absolutely.

Got it, Got it. And so how did you. Actually, this is. I mean, I think this is a really clever strategy for finding tenants. I mean, obviously in some markets you don't have to do that. You got Craigslist and places like that. But in a, in kind of a smaller market where maybe there's not as many people. How do you get those renters to show up there? How do they find out about this group?

Well, what I do is when you. When number one, I've got a ton of friends on my regular Facebook.

Well, when you look like that, man.

You know, trust me.

Keith Urban, man.

Yeah.

Sing us a song.

Maybe at the end, but like for Rent in Myanmar County. I mean it's got. I think it's like 8, 000 members. You gotta. There's only 30, 000 people that live in my county, so. And in Kentucky, you know you're from Kentucky when you don't say a town you're from unless it's Louisville or Lexington. Use counties. So from Muhlenberg county or Ohio county.

That'S what we do here too. Yeah.

Do you really?

Yeah, we say Grays Harbor County. I don't say Aberdeen or Montesano.

Yeah, yeah. So it's just, honestly, I post it and my stuff has gone. I mean, literally a lot of times in minutes.

Well, what's cool about Facebook is that even if, I mean, let's say somebody isn't even part of that group, but somebody, you know, Aunt Betty is part of that group. She sees the listing come up. She knows that her niece is looking for a place she can just tag that niece. Like, Facebook is so powerful for that stuff and very few, like, investors use it.

That's very cool. And it's real easy for me to do. You know, I, I don't, I don't have to, you know, I, I get asked all the time, how do you market it? I, I don't market. Matter of fact, I don't even want my phone number out there. Unfortunately, my phone, it rings off the hook. So at 6:00 clock at night, I have to, you know, turn it on silent.

Yep, there you go. Yeah. All right, so I, I've got some, I've got some questions that I want to dive into, but before I do, I. Brandon, let's hear this small town investing story that you're dealing with.

All right. No, maybe you can, you know, resonate with this. I don't know. But you got, you got people right now. So anyway, I've got a plumbing issue. Last night somebody called and they've got water from their. When they run their sink in their kitchen, it's running up the bathtub and the toilet, which means there's a clog somewhere. And I know the plumbing's just, it's been kind of messed up for a while. I need somebody to go under there and just redo that plumbing. I cannot find a plumber with a hundred miles of here, period. Like, I just can't. I called like 17 plumbers and like three answered their phone and they can't do it. And so, like the last. And I didn't tell you this, Josh, I just got a text other Dorkin, but I just got a text here like 5 minutes ago from my assistant who said, I got a guy that will do it for a thousand bucks. Like, he'll, he'll do it for $1,000. He'll come for a couple hours of work to clear this thing. And I'm like, yeah, this is like the hard part about living in podunk. Is that sometimes it's just impossible to find people at a reasonable time. Like, by law, I have to within 24 hours, get their water working again, and I can't do it. Like, I'm really struggling. Yeah. So how do you overcome.

It's funny you said that, because I just dealt with the same thing this past weekend, I promise you.

Yeah.

And I actually, I posted on Facebook, I said, if somebody will get me a good plumber, I will give him 90 rental houses, all the work he wants.

Oh, that's a good idea.

So. But here's the thing. I'll be honest with you. I. I've got a few plumbers here. One, you know, just got arrested for meth. Oh, wow. I can't use him anymore.

But I guess there's more money in meth and plumbing. But I tell you something else I would probably suggest is I had a maintenance man that at one time that we went up, unfortunately had to part ways about a year ago, but I was going to pay for him to get his license, and by doing that, it's going to have him sign a contract saying he would still work for me for a certain amount of time. So. And that way he can still make. He can make very good money as a licensed plumber here.

Yeah. Interesting.

Interesting. Cool. Well, good story. And there you go, guys. The harrowing truth about investing in the middle of nowhere.

Well, if I could expand real quick on this. I hear people from time to time who live in big cities like, you know, Seattle or San Francisco or Denver, and they wanted the same problem. Well, you can't find a plumber.

You can't find a good one because they're all every. There's like. Like thousands of houses being constructed. Everybody's working on their property, and you can't find contractors to save your life.

So I do like. I do like that there's too much growth. Yeah. I think the Facebook is interesting. But here's. But people. Where I was gonna go is like, people buy. Go and buy in Podunk. They go and buy in Grays harbor, where I live. They go and buy in your town because they're like, oh, $25,000 for a house. I'll buy that. But then what happens? And I see this. People come, like investors from out of the area come into my town. They buy something because they think it's cheap. And a year later, it's sitting there vacant and empty and falling apart, and eventually they just lose it in foreclosure or they just let it go back, like, for not paying taxes because, well.

It can't handle the Tim that did the podcast with you guys, right?

Yep.

He came up here. He actually had a business in Central City, a promotional company that we did all this work, and that's how I met him. So he started buying apartments and houses, and he's 750 miles away in Dallas. So the problem that he had was people stealing from him. You know, the property managers, literally, they were taking the laundry money, the money from the Coke machines, and, and, and they don't really care if all the units are full. I mean, let's face it. I mean, even though he would bonus them, they still didn't care. It wasn't worth the hassle for them. It was amazing how I would talk to him and I would say, how do you have 24 units open when I'm completely full and I have people beating down my doors? That's the difference between him and. So he recently just sold off his property here. Now, my rule of thumb is, you know, people ask me, do I have property 20, 30 miles away? My rule of thumb is if I cannot drive by that property with ease on my way home, I don't want it. Yeah, it's my rule of thumb.

I know. And a lot of people buy into that. And I think, especially for new investors, it's a good strategy. It keeps it. Keeps it close and make sure. And it doesn't have to be 20 minutes. It could be whatever works for you. But we used to talk about this a lot on the show back in the first hundred shows. I don't think we've really brought it up, but yeah, I mean, investing closer to home makes sense.

Right?

It's easy to roll by, it's easy to see, it's easy to stay on top of. If you have a property manager to keep on top of them, if you're managing it yourself, then you can know what's going on. So that's.

Understand my printing company is where I is make the bulk of my living.

Yeah.

Right. So I don't want. If I was in real estate all the time, I would be buying property in Nashville, Bowling Green. I mean, there's stuff appreciating there like crazy. That is the downside here is there's no appreciation.

Yep.

But we do cash flow like crazy. All right.

You know, I mean, Josh, sorry. I'm thinking of Tim because of you. So what's the strategy then? You know, why, why rei? I mean, you talked about it initially as a means to buy that car, and you're saying obviously that you've got this business that is what provides you the bulk of your income.

Yeah.

Why are you in the game and where are you going with it? Why are you, are you trying to make more money with it than your business? Are you trying to get out of your business or you just. It's an, it's another stream.

All right, so there's a couple objectives I'm trying to meet here. Number one is I want to be able to retire at the age of 48. When I started buying property back when I was 31, when I hit around 33, 34, I'm like, all right, I've got to have a go. Just to go and buy a house here and there. Really didn't. I mean it wasn't appeasing other than just appealing, other than just going for the sake of buying property and remodeling it for the fun of it. So my goal became to. I want to be able to sustain a certain lifestyle at the age of 48 and to be able to start backing out of my printing company at some, at some point. Right. My dad, he's 62 years old, still doing it and I don't want to be in that position. So I'm 42 now, I'll be 43 in December. So I started financing my properties when I was like 34 and 35 to the age of 48. So that gave me an end goal. And also I travel a lot. I have four kids. We, I mean I'm going to Vegas this weekend. We just got back from a third cruise this year and that's not bright, it's just telling people, you know, there's a lot of people that can't afford to travel that much. But I'm your ordinary guy and I used to not be able to travel that much. But I'll give you a good example how it allows me to travel. So I bought a house that had a 24 by 30 garage on was two bedroom upstairs, full size basement that we're finishing. And it also had a 30 by 80 building that was built in the year 2000. So 2400 square foot building that we're turning into a three bedroom house. So I bought all that, you won't believe it for the same number, 25 grand now after, after fixing it. So my, what I always try to tell people, my friends that want to get into this business is I get a line of credit. And so what I do is like I'll pay for that house up front, that line of credit for 25,000. The cruise that me and my family took was $8200. So I pay for that out of that line of credit. So when it's all said and done, I'll refinance that property. I'll have roughly around 45,000 in it. The appraisal is going to come back easily 75 to 80,000. So that 8,200 bucks for that cruise did not come out of my pocket. That person out on that rental property just paid for my vacation.

I've actually done that a number of times as well. It's like the burst strategy and you just take out a little bit more for or doing a trip or going somewhere, having fun like living life now versus, you know, absolutely old.

And could I pay for that from printing business? Yes, I could. But why, you know, why do I want to do. I can, I can anytime take that $8,000, go pay it down on that mortgage if I wanted to. But this keeps my wife happy. So every time I go to her and I say, hey, I just bought two more houses, rather than hear her, she's like, vacation, vacation, baby.

I think Tim talked about that same concept too. I think it was somebody recently, but I think it was Tim Shiner who.

Was saying it's rewarding yourself.

Reward yourself every time you buy a property and then your spouse is totally on board. I love that.

Absolutely.

Yeah.

And that property soon be paid off when I'm 48.

Yeah. So. So in you're 42 right now, so now you're getting six year notes on your property when you're buying. Are you making it so everything ends well?

Let me, let me say this, all right. And I want to be totally upfront. That strategy was perfectly fine up to us, you know, a couple years ago. But now I still have a lot of properties that starting to be paid off. And notes mortgage has been paid off starting next year.

Yeah.

So these things are going to start snowball, snowballing starting next year. And I still have about 12 of those houses that are just paid for that I bought that I didn't finance. So the money's gonna start rolling in and I. So I can still pay everything off at 48. Even though a couple of the properties in the past year I financed for 10 years. I still take the money that's been paid off and pay those off in plenty of time before I'm 48. But I don't have to, you know, it's just. But now when I. I'm going to have close to 50 grand a month coming in at 48 right now, you.

Can'T live on, you can't live on that in Kentucky. Come on, you need to double that.

Yeah, right. So I mean, that's, he's going to.

Be buying a Corvette a week. Yeah, yeah, you just line the block up with yellow Corvettes, man. Yeah, don't let anyone else park.

So, but you know, I, I, that's the way I'm going to retire. And I, I don't know, I'll probably pull money back out at 48 and, you know, refinance.

What I love about this is, you know, it's funny that you talk about the strategy because just the last couple weeks my wife and I have been talking a lot about this, but we're kind of shifting a little bit of how we think about real estate in terms of before it was leverage everything as much as possible, get the best deal, get the cash flow up. Because I needed that cash flow to be able to, you know, have financial freedom. Well, I got the financial freedom, I have the income. I'm not worried about any of that anymore. Now we're thinking, you know, what does retirement look like? And I'm 32 now, so I'm like, well, what does that look like in terms of not having to deal with finding a plumber at, you know, 9 o' clock at night and deal with all like. And what I came up with, this is idea. And again, this is not like I made this up or anything, but it was an interesting way of looking at it. Let's just say I had 20 houses that were each giving me $200 a month in cash flow.

Right?

So it's not a ton of money, but it's four grand a month. Right. 20 houses give you a month in cash flow. But if each of those houses, the mortgage payment was roughly 400 bucks a month, it means that as soon as they're paid off, my income triples overnight, which means a person could have just 20 houses making 200 bucks a month. And that's four grand a month for a long time. Like, especially if you put those on a 15 year mortgage. But as soon as they're paid off, your income triple. So you're living good now and you're living even better later. And that's why we love real estate.

Like, right. To me, even if I love looking at a house that I could buy for $30,000 and rent for 500amonth. So every 30 grand that I make through my printing company or through other means, it's another 500amonth for a long time in my life. So it's. That's why it been in real estate has made it so hard for me to go buy a vehicle or to spend a ton of money because I'm thinking I want to go buy a house, and I don't. I did just buy a new truck finally. I drove the same truck for 17 years. But something else that real estate allowed me to do, you know, the, the rich dad, poor dad theory, you know, my wife wanted a new Camaro. We've been married 23 years, so I wanted to get her one for our 21st anniversary. So I'm in Vegas. I found a brand new Corvette. I mean, Corvette Camaro for 28,000 bucks. Call the banker, I'm like, I'm going to buy this car. And he's like, no problem, Josh. I'll go and start getting set up on payments, Right. I told my brother, he was with me in Vegas. I went, now when I get home, I'm going to go buy me a $30,000 house, let it make the car payment. So at the end of the five years, that Camaro that's only worth eight grand is still, you know. Yeah, I lost money on it, but I still have the house. Bringing in 500amonth. Yeah.

So, yeah, you make an asset pay for liability.

Yep, every time.

Love that.

So here's the question I have, like this, this works great for you, right? You know, you, you get to live in the glowing metropolis of, you know, what, the nowhere?

I guess I just, Yeah, I, I just, I think I just got beeped there. But, you know, you get to live in sunny, Sunnyville nowhere and buy houses for 20 grand a house, which, like, is amazing. That, that cash flow, you know, three, four hundred dollars a month. I mean, that's amazing. Most, you know, in lots of parts of the country, people can't find that. And, you know, obviously we tell people within two hours of any major city, you generally can start to find stuff to our drive. But, like, what would you say to somebody who says, wow, I love this. I really, like, man, I can't live there. I can't. I can't do it.

Right. Yeah, but you get. I want to be like Tim Shiner, who gets 20% a year in appreciation.

Yeah.

Which is another way to make money.

But there's no guarantee of that, right?

I mean, that's true. That's right.

Well, there's no guarantee of anything, but, you know, obviously cash flow is a lot safer than betting on appreciation.

So that's Right.

What advice would you give to that person other than like, come on down?

Well, all right.

In this small town, that is a great point. Because there is less risk. A house is worth that you buy for 35 grand. It's never going to be worth less than 35 grand. I don't care what the market, what happens to the housing market, unless you're in Detroit.

But.

Yeah, yeah, right.

I mean, 10 years ago, five years.

Ago, excluding Detroit and places and a few other cities.

Yeah.

That I would not live anyways. No offense. I just not. That's not me. I like small towns.

So.

So you got back. Oh, so let me tell you something else. So these people that have their houses, I paid off my house in Kentucky now, which is 4,800 square foot, that I bought 13 years ago for $105,000. And first I put some money into it. And so it's really. I got it set the way I like. Looks like a miniature Panama City beach in the backyard. So I paid it off. My wife, she's like, man, I'm so glad we don't have that payment. And I'm like, honey, I hate to tell you this, but I've already talked to somebody. I'm refinancing it. And. And so I pulled out 200 grand and went. Bought five more rental houses with it. Now.

It'S all in what you want. I think there's a lot of people have a lot of equity in their house, where they live, and they think our house is paid off. Or I've got a $800,000 house I only owe 200 grand on. To me, if you're not using that equity, it's useless because you always have to have a place to live. So I went and pulled out 200 grand. So my payments on my house now is $895 a month. By buying those rental property, they bring in 2,650 bucks a month. So just by refinancing my own house, I'm making an additional $1700, $1800 a month. And so I think if people have houses, no matter where you live, using equity in your house, I really don't have all the answers.

No, no, of course not.

You know, from the big city type stuff, it's just not. I mean, I've had people give me advice. There's a doctor local here that who buys a lot of property in Nashville. Appreciation is going up like crazy there right now. But it's just not for me. I mean, I'm trying to Grow my printing company and still set up for retirement in Central City.

So that's the goal. That's what you're shooting for, is retirement. And continue running your printing business because you like it and it's a good income. And buy yourself a cruise once every two weeks and a car once a month. It's great.

I love it.

Well, I don't, I don't buy cars that often, actually. Not, not very often at all.

I got you. I got you. Now I'm giving you a hard time. All right, Brandon?

Yeah. So before we go back, I mean, we got to move on to the fire round here in a little bit, but I want to go back to a strategy you talked about earlier about finding deals. You said you find deals. Did you say you find them via Facebook as well?

Sometimes, but typically, you know, I'm up on Saturday mornings. I devote that time. If I don't have something really pressing at my office here, I don't Saturday to rent a property, I'll drive around, look for for sale by owner signs. Just anything that I do. And I'll just, I'll go around, check out my property, do drive bys. If I see some things I want to change, I take pictures of my phone, I text it to my maintenance guy. But I, by doing that, I'm able to find a lot of deals.

That's awesome.

So just driving around for dollars looking.

For properties and, and I make obnoxious offers.

So. Okay, let's, let's, let's talk about that. So you drive, you find properties that look that don't look like they're doing well. Or are you just doing ones with the for sale by owner signs?

Not always. I'll give you another example. So there's, there's this brick house sit on the corner lot. I really liked it. And every, I drive by almost every day and I thought, you know, I want to stop and talk to the owner and tell if they ever want to sell it, I want to buy it, I want to put an offer in at least. So I just knock on the door. Guy comes to the door and I said, hey, man, you know, I'm Josh Randall on this printing company over here, but I also buy real estate. If you ever want to sell, I like to put an offer. He goes, you know what? I think I, I would one mind entertaining an offer. The house. The appraisal on it was 125 grand, offering 75,000. And he took it. We shook hands right then. Right then. And so I go back to the office I'm like, well, I just bought another house and it's a great deal. I mean, I love this house. Guy in there hears me talking about it and he's like, man, I need another house. I wouldn't mind a house. You know, I need a four bedroom. I ended up, didn't even, I didn't just inside a purchase scream or nothing. I just shook hands with this guy, I let him buy it. And now the deal. I got ten grand in cash and a pontoon just by knocking on the guy's door and letting somebody else buy it.

So you wholesale the deal?

I also. The deal really quick.

And, and for those of us who don't know what a pontoon are, you talking about a pontoon boat?

Yes, absolutely.

Country song.

Yeah. So. So I don't know, I gutted that pontoon and actually decal it. It looks just like my Corvette. It's bright yellow now. Corvette, it's got Corvette seats.

Do you have, do you have photos of the car and the pontoon?

That is obnoxious.

And I have to see that.

Okay, you should, you should shoot me a picture. We'll put it up in the show notes@biggerpockets.com what show number? 242. So biggerpockets.com show 242 and if we can get some pictures, I'll put them up on the, on the site. That'd be fun to see.

Just don't do what they're doing in Ozark, man. Don't, don't cut the holes in those pontoons to hide bad things.

That what they did. All right, I'm going to watch that show. I hear it's good.

Yeah, you got to watch the show. It's crazy. That's crazy.

All right.

Well that's, that's, that's awesome. So what, what are you looking for in a house? Like what, what kind of metrics are you looking for? Obviously you want some kind of cash flow since you're, you're, you're not focused on appreciation. So what, what are the exact. What kinds of houses are you buying and what are the metrics?

I love making houses. Three bedroom that are not three bedrooms.

Oh, me too.

I love that.

Yep, yep.

I love buying two level, two level homes and make them in duplexes. Houses. That's my favorite thing. I bought a house for $32,000 about eight years ago. It's one of my first properties.

Right.

First dozen houses and I had 32 grand in it. I was renting it for $575 a month, I think it was. And I went in for a couple thousand dollars, was able to make it two different units. One bedroom upstairs, two bedroom down. And. But I had, I paid the utilities. Right. So now the one bedroom brings in 550. The two bedrooms brings in 575. So I'm bringing $1100. I'm out about 300amonth in utilities. So that's 800 versus 550. Yep.

What are you all in on construction on that and purchase?

Literally there was a kitchen already downstairs. Yeah. So literally I put new flooring, sealed off the doorways, the stairway going up, made them a closet and put a driveway around back. Now it's pretty much it. So three or four grand.

So you mentioned the. I love that a lot. I love looking for ways to, you know, find a hidden potential. Like that's, that's what it's about, right. Is you find a hidden potential. So if you can't find a good deal, oftentimes creativity can let you, let you make a good deal. It's like you mentioned the two bedroom or three bedroom thing, what I always look for, and this is just a tip for everybody, like look for a two bedroom house that has over a thousand square feet. Because almost, if you have a thousand square foot house and it's only two bedrooms, there's almost always a way to put in another bedroom if you got. I found one the other day, a 1400 square foot house with two bedrooms. And so I knew just by looking at that, like scrolling through realtor.com and I saw the listing, I go there's hidden potential right now. So I scroll in there and I look and sure enough there was a garage that somebody converted to a den. Right. And they were even using it as a bedroom, which means as a rental property. This is a three bedroom house that rents in my area for 875 versus the two bedroom which runs for 575. I mean that's a massive difference. Turned it from a mediocre deal, probably not a deal to an amazing deal just by that.

Right. Well, I started out in the rental business putting cheap laminate down. I'm talking about years ago. Right. You're going to, at that time it was Lowe's buying 79 cent laminate or cheap carpet. I don't do that anymore. I put really good flooring down. That is the vinyl water resistant, the.

Interlock like the, the click lock or whatever.

Yeah, yep, absolutely. So I'm going back now. What I find myself doing is as these properties are, you know, coming empty, the ones that I bought 10 years ago, I'm going through and doing some updating. Like, I. I took one house at for 450 bucks, updated it, put new flooring. Just does some renovation. Things that I've learned, like spraying knockdown on the walls. If you got paneling, you know, you could seal the lines up and spray. Not where it looks like a condo, you know, Florida condo.

Hey. Hey. By the way, just clarify what, what, what that is.

Knockdown.

Knockdown. Yeah. They put sheetrock mud in a hopper, and they spray it on. I like texture on the ceiling. Then they come back with a trial, and they knock the heart, the sharp edges off so it looks like a stucco like you would see in a condominium. And like, if you went to Panama City beach or something like that.

Yeah, I was really surprised. I went out to. Where was it? I think I was hanging out with Jay Scott over on the east coast at one point a couple years ago, and we were talking about how, like, they don't use any texture. I think that was where it was. They don't use any texture on their walls at all. And that was a. It was a weird thing to use texture. But where I'm from and, like, everything gets texture. I mean, the wall behind me is textured with. With. Yeah, you don't have smooth walls. That's weird. But other parts of the country are different.

Now. I do have some things. Got smooth walls, smooth ceilings. But those one time out, these older houses where you don't want to go in, and if you have to rip all the paneling off, if it's good and tight, we can spray knockdown on it. I mean, a whole house and a half a day.

Yeah.

And so what I'm doing is I'm going back and just facelifting those houses that were bringing in 450amonth. Now I'm getting 650amonth out of them for a few thousand bucks.

That's awesome.

Yeah, that's great. That's very great. That's great. Awesome.

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Yeah, I think this is great. I'm. Go ahead, you've got one. I got a question. You're ready?

I'm ready. I'm ready. Yeah, I want to know right now.

Spit it out, buddy.

This is a question that I'm going to help you with. Josh Dworkin here.

Oh, wow. Josh Dworkin.

And Josh Randall is going to help Josh Dworkin here. And.

You have 70 employees.

70?

Josh has 30. 25. 30 somewhere in there, right? Josh Dworkin, but Josh Randall got 70 employees. You also have 50 houses, 40 rental units, and then you travel frequently. Now, most business owners can't leave their business. Now, Josh Dorkin here did just leave for like nine months and go, no. Okay, it was like. It was like three weeks, but whatever.

Went around the country.

But like, how do you do that? How do you find. How do you manage all this stuff? How do you get the right people in place? Sort of like, do you have any tips, advice on that?

That is the key. So it took me a lot of people, and that 70 place doesn't count the eight or nine that I keep in the rental business, too. So it. I finally found a guy and I pay him pretty good money who's the head of the construction crew. So they basically work for him. I don't want to have to go to each one of them and give them marching orders. Every day I give it to one guy. And by the way, this tenant cloud, so that I'm using, you can give them an iPad that when there's maintenance issues, you can just drop it into your software so they know what needs to be done. So I'm not constantly answering the phone or toilet leaks and all that good stuff, Right? So he takes care of all that in the. In the screen printing world. I mean, it takes. My biggest thing was I was my own bottleneck in the company. You know, in 2000, I was a graphic designer for 12 years. I did all the artwork. Finally, I realized I need to hire more graphic designers. Now I got six. So. And then I realized I was a salesperson bottleneck. So what I started doing is just we start putting supervisors in place over each department. So now, rather than one person trying to run everything, you got little business owners, supervisors running their own department, make sure it's run good. And I think.

Let me ask you a question, because you use really interesting words there. And I've never heard anyone else say that you called your supervisors business owners. Explain that. Are you compensating them as business owners? How exactly do you treat them as business owners, or did that just kind of slip out wrong?

Well, I mean, honestly, I pay like the printing supervisor, right? We're able to pay more every time we add equipment. He's able to make more money. So rather than going, oh, my gosh, he had another automatic printing press, and now we got to hire another person to run it. A person to cash, insurance and box them and all that. So when you give him more on his salary every Time you add a piece of equipment so they have some stake in the game. Right. Salespeople, they're compensated by salary, commission and bonuses. The sales manager is bonus on the previous year, whatever our sales go up this year over that last year, he gets bonus. Done.

Yeah.

So it's. And honestly, they got it better than I did.

Yeah. Oh, how do you. I know about. I know about that from time to time.

How do you do.

How do you deal with.

Yeah.

Yeah, right there, Josh.

Oh, sorry. There's. There's something going on here. So how do you deal better now?

How do you deal with the fact.

That you've got commission people getting bonuses and stuff and then you've also got admins who are not commission bonus, like commission based. And you got probably HR people and you got all these people. How do you deal with them getting the same person?

Not everybody's the same. You know, there's something be said for those people that could come in at 7 in the morning and leave at 3:30 and not have to answer their phone anymore.

Yep.

They'd rather get paid more per hour, get their health care paid, you know, get their vacation time and go home. I mean, there is something to be said for that. Then there's people that are. It's, you know, salespeople, they don't want that. They want to be able to make out the Red Lobster to also give out a business card and make money. And that's where I'm at.

Your line, your line, it appears, is, you know, it's the clock in, clock out, guys. Those are, those are the ones who are paid, you know, a salary and fairly obviously. And those people who. The office never closes, so to speak.

That's right.

Those are the guys who are getting a piece of the pie.

That's exactly right. And you know what? If you got a maintenance guy, you pay for his cell phone bill, you give him extra money per week because he's taking those calls for you at night. Yeah. You know, you compensate them as well. I give them gas money. I mean, just whatever I have to do. And I'll throw money their way at my own discretion. You know, if we finish a house pretty quick, I bonus them.

Yeah, that's great. That's awesome. Love it. Love it.

Well, let's.

The fire.

Let's head over to the fire round.

It's time for the fire round.

All right, let's get to the fire round. Questions. These questions come direct out of the Bigger Pockets forums, which of course you can go and get to by going to biggerpockets.com forums. We're going to fire them right now at Josh Randall, number one.

I'm nervous. You better be nervous.

You better be. It's getting hot in here. It's getting hot in here. All right. Converting from oil to gas furnace. Should I remove the oil tank in the basement? The quote to remove is 700 bucks. It's a flip, but it could be a rental if it doesn't sell at the right place. So should I spend the $700 to remove the oil tank in the basement?

Absolutely. Look, long term, the 700. 700 bucks over seven years, it's nothing. Take it out.

There you go. There you go. Cool. All right, next question. While still searching for my first rehab, I received a call from a homeowner via direct mail who's interested in selling. The thing is that it's a manufactured home, basically a mobile home that can't be moved. Taking it over with my partner, I've been told that this type of property, one, would be hard to get funding for and two, is difficult to get comps on the property. I don't know a lot about this part of investing, which is why I'm coming to bigger pockets for some insights. Would flipping a manufactured home be a good idea for a first flip?

Absolutely. I actually own two. I try not to buy those because the insurance is higher. It's harder to fix, it's harder to find parts for. You know, the hot water tanks are different size, so I would anything I could buy and make money on. I'm going to flip it. I flipped a tractor trailer load up. Hey, I flipped a tractor trail load of Corvette tires one time and made 6,000 bucks. Just a guy came to me and I bought all he had and just.

You're just a flipper. You're not a house flipper. You're a flipper. I'll flip anything.

Yeah, well, I just got offered my mobile home, actually. I paid $36,000 for. I've had it, rented it for 550 for the last three or four years, and somebody just wanted to buy it for 49,5 so I could sell it if I wanted to. Probably won't. Yeah, I hate selling. Why?

Why do you hate selling?

Because I'm not in it to sell. I. I just not in it. I look at residual. I just want residual income.

Yep. I love that.

You give me 10 grand. I'm gonna blow it on Texas roadhouse and. And all the other stuff that I do.

Nice.

All right, Brandon, next question.

This is.

I. I Picked this question because it's something I'm dealing with a lot lately. When a buyer asks for items on an inspection report to be repaired, do you repair all of them, do you negotiate which ones you're willing to do, etc.

Well, I was looking see what the cost is. I mean it, it all depends on how much you're making on the deal, right? If I can go through and fix. So like the house I just rented out last night, the big four bedroom. If they went through now I say, here's exactly what I told them, I promise this pertains to this. I'm not selling, but I'm renting it to higher priced house. I said you could go through and nitpick this house. If you nitpick me to death, it's not a brand new house. I'm going to raise the rent, but anything safety related I'll fix. So locks and windows, loose posts around doors, front porch, everything like that, I want to fix it. But don't nitpick me over every little thing. I'm going to raise the rent so that, that'd be my answer is if you want me to raise the price, I'll fix everything. There's some things I can go through because you know how it is, I send my crew of eight guys, we can knock out a ton of stuff that the average homeowner thinks the big deal that I know is not a big deal.

Yeah, yeah.

I had a, last week or two weeks ago I had a deal fall through. We were selling a house and they got the inspection back and you know again you can, you can find a lot of things in 100 year old house. And so the house is, I mean it was in mint condition in my opinion and I totally remodeled everything. But man, like they wanted the agent wrote back the inspection thing, they would like it all fixed. And we said what do you mean? And they said, well it's a 70 page, you know, inspection report that was done by the best inspector in town. We want it all fixed. We're like, well what does that even mean? Like the roof is eight years old. Yeah, we want a new roof. Really? Like, I mean they ended up first time home buyers. They wanted a perfect brand new house. And I'm like, which makes. Yeah, I mean you're scared they're taking their view.

Yeah, they're scared. I don't know what, what to look for.

But your answer, it's okay in house in that town. Like they will not find a better house. Like they just will not be homeowners. Ever at that mentality. It just drives me nuts.

But anyway, and, and they're probably. If they don't buy that house and they want a brand new house, they're going to pay 20 or 30 more grand for it.

Yep.

Rather than buying yours and putting a $4,000 roof on it.

Yep. By the way, the end of the story real quick is just what a.

Roof cost down and nowhere.

Actually, I just put a roof on a house that's 1,000 square foot and it cost me labor and all is like 2,800 bucks. Nice. This metal, metal roof.

Oh, I.

So as I said, the end of that story is that day I told my agent, I was like, screw it. I'm so tired of selling. It was the second time like something similar had happened. I said, screw it. I'm not going to sell the house. Let's just rent it out. That got my agent, like, hustling because now he's going to lose all that commission. So he goes. Within like three hours. He had another buyer that he had been working with, and they, they just weren't quite ready. They needed, they need a month. So we, we put under contract. They got early occupancy. They're renting it for a month and a half until their loan can go through. And yeah, I might end up losing it. Who knows? Like, they might just become renters of mine. But we have a contract they're going to sign in October and actually close. So who knows?

My wife makes a list and I still don't fix everything in my own house. I'm not fixing it for everybody else. There you go.

You. You are not alone, my friend. You are not alone. All right, last. Last question. Should we consider letting the tenant stay or is it better to start with a new.

Oh, sorry, I missed the first half of that question. Basically, they bought a new property. They were trying. They're closing a new property and they've got an inherited tenant, so.

Oh, there you go. Oh, okay. You know, I, I mess it up. So inherited a tenant. Yeah, yeah, yeah. So what experiences do you have with this type of situation? What would you recommend? So you buy a house, it's got.

A pin in it, right?

Yeah.

Do you keep them or do you put somebody new and train them your way?

The house I'm closing on right now, the five bedroom, has somebody in it. It's their family member. It's renting it for $300. So the day I close, I'm going to go ahead and serve an eviction notice until. Because I know they're not going to pay 550 or $600. I know that. I'll give them the opportunity to, but it's typically. I have more problems with people that's staying in a house. If I look around the yard and I see how they're living in it now and the yard's not mowed and there's crap everywhere, I don't want it in my house. So I. I guess it's case by case. I mean, I can't say I would evict everybody.

Yeah, Yeah.

I think sometimes you can usually tell the way that a tenant has been is the way that they're going to be. That's like a phrase we use in the book on managing rental properties. Yeah. The way that they've been is the way they'll be. And like, people don't change, so.

That's right. It's hard to get people to change.

Isn'T it, Brandon?

I've been trying.

I think we both just made the same joke at the same time. You're just more dominant in, in your yelling.

Well, I am. I am definitively.

Love, hate relationship.

There's absolutely no love between Brandon and I. There's a whole lot.

There's a little.

There's a little love.

There's a little.

Oh, it's all love, man. Come on, these two guys. Come on, come on.

All right, all right.

It's time, man.

All right.

It's time for the fire. No, Famous for.

Nice job.

All right, all right. The Famous Four. These are the same four questions we ask every guest every week. And now we're going to.

We'll decide to make them the Famous Five because we do ask five questions.

We don't, you know, it's four.

Pause. One.

It's the Famous Four, right? All right, number one, what is your favorite. What is your favorite real estate related book?

It's Rich Dad, Poor dad, man. It's life changing for me.

There you go.

I like it.

I gotta land there. And I actually will give copies. Tim Shiner gave me a copy of it. And that, that's what I do for a lot of other people.

Did he read it to you or, Or.

Yeah, and I had a pacifier in my mouth.

And he was bare chested. Baby oil on him.

Yeah.

I love that.

Crazy.

I love it.

That was weird.

Okay, next question. Favorite business book. And who read that to you?

I'm changing. All right, so here's my favorite business book. It is 50 things they did Not Teach you in School by Tim Shine and The reason is I am chapter 39. And hang on, I'm going to show you this here.

What chapter am I?

You're chapter. You're a two. You're a deuce.

This book's gotta go, man.

See that napkin right there?

I do.

That napkin was something that when I had 33 properties in my mid-30s, Tim Schotter, we was at Buffalo Wild Wings, he made me sign it and he said, set a goal for yourself. I said I was going to have 92 properties by the time I was 45, but I was going to have 50 by the time I turned 39. So my 39th birthday, Tim calls me up and he said, how many do you have? And at that time I had 70. And he put this. He framed it and sent it up to me. And I didn't know it. So he said, congratulations on meeting your goal. So that's what. That's good friend and mentor right there.

That's really cool. Yeah. All right. I have no idea what the book was, what it's about, but that's okay.

Say it again. Talking about real estate, it's 50 things they did not teach you in school.

Cool. Awesome.

It's on Amazon. He donates all the money to a. A shelter.

That's awesome.

Food bank.

Yeah, that's great. Awesome. All right, next question. What do you do for fun besides like cruising and, and racing cars and having kids and. I don't know, what else do you.

Do besides playing around with the new drone toy? You know what? One thing that I did buy that real estate helped me buy, that is. And I'm not being a church bag here, so. But I did buy a 34 foot Hummer limo.

I don't know what you said. Is that something? Are we supposed to bleep that? I think so.

That's a Kentucky term. I think maybe that one.

I think our editor will have bleeped that because.

I'm guessing it's bad.

It's not bad. It's just a term for a gab that flaunts stuff.

Okay, so you're not flaunting, but you.

Bought a 34 foot limo Hummer.

Yeah.

Tell us about this real quick.

Yeah.

I take like my sales people and actually there is. The company I bought my first limo from was a real estate company that would take potential buyers around and show them they're more higher end houses, you know, limos. Like the car limo is cheap. I gave 15 grand for it. And people think you're a rock star. It makes them feel like rock stars. When they get in it. So that's a great way and great thing to use in your business. So if I want to send the limo, I have a tenant, a client, that flew into Nashville, and I don't want him renting a car, driving through cornfields and bean fields to get here. You send them the stretch Hummer, they don't even realize it. They just sit back and relax, and they show up in my office. That's awesome. And so we live 30, 40 minutes away from, you know, any bigger town, only 90 miles from Nashville, by the way, but we could jump in the Hummer, talk. So I have a driver who takes us and we'll go out to eat and take Steph out. It's a great tool. So. And that's. We play guitar in it a little bit. We sing. I got karaoke system, and that's. That's what we do.

Is that what's happening after you pick me up with the private jet? The next purchase?

It's gonna. It's gonna be yellow as hell, isn't it?

Yeah, it's gonna be bright yellow.

I should never told you the color. I should have said white.

Yeah, that one down.

All right, last question from me and the final of the famous four. What do you believe sets apart successful real estate investors from all those who give up, fail, or never get started?

What makes them successful? I think it's that moment, because everybody, you know, you tell people that, say they fail and, you know, and you have to get back up. I mean, that's. That's easy to say, and I understand that. I just think that once you get the aha moment and you grasp the big picture of not being in debt, you know, not charging 30 grand on your credit card, buying assets instead of liabilities, you know, the biggest problem that I see is these young guys that go. And they work in the coal mines here, and they're making a ton of money, and they make really money. So what they do, they go buy $60,000 diesel trucks, they go buy them a boat, they take to the river, and they're in debt. Rather than taking good advice, going, buying assets and setting themselves up in their 20s where they can really play in their late 20s and 30s. But the successful people, I think, don't go into debt. They. They only go into good debt. Good debt. There you go.

There you go. Awesome. Josh Randall. Where can people find out more about you? How do they reach out? And obviously, you've got a printing company, so let us know about that.

All right. Well, it's I'm not one that really promotes a lot myself, but you could go to centralscreenprinting.com I was giving advice before I came on here that I need to go ahead and get a web page. So it's going to be Josh Journey.

Josh Journey.

So I'm gonna. Yeah, Josh's journey was taken. Oh. So Josh Journey. And all I'm gonna do is just kind of show you a timeline I'm gonna put on there when I started buying and things I've learned along those ways.

Nice. And people can also connect with you over on Bigger Pockets, right?

Yeah, absolutely.

Yeah. Cool. Hey, by the way, Josh has sent us some swag. And. And rarely do I do this, but, um, you know, we've been looking for a company to work with to sell BiggerPockets merchandise. Um, Josh sent us some samples of his work, of what he can do, and the quality was really, really good. I was really, really pleased with it. And so, you know, if you're looking for. For somebody who could do this stuff, I would obviously reach out and. And have him send you some samples. If it meets your goals, it meets your needs, and, you know, work with him. And if not, no harm, no foul. And no, he did not pay me for this. And, no, this is not quid pro quo having him on the podcast. I just learned about it this morning after finding out who I'm talking to here. So, yeah, definitely check it out.

I wear the hat all the time, man. I love that hat you sent.

Thank you very much. And I love what you guys do. Bigger Pockets. It really does help a lot of investors. I know. Yeah.

Here's actually a funny story. So I'm in the office. I'm in my office doing my work, and I walk out, and I see Scott wearing this hat that looks amazing. That is this awesome golf hat with bigger pockets on it. And there's a bunch of other swag in the room. And I walk in, I'm like, yo, where'd you get that, man? He's like, mindy. I go. I talk to Mindy. I'm like, mindy, what's going. She explains what's going on. Go back to Scott. I'm like, dude, I need that hat. Sorry, man. I really need that hat.

I totally.

I totally.

I totally stole the hat from Scott. I feel terrible about it. I definitely need to replace it. But I. I rock that hat, like, all the time, you know, in representing Bigger Pockets everywhere I go, in everything that I do. And so I got to. Yeah, I'm a terrible boss.

No, no, you're. You're doing it right. You're playing the cards right. But I'll. I'll send more. I'll send you guys more.

Awesome, man. All right, Josh, well, listen, man, it was a pleasure having you on the show. I love what you're doing. It sounds great. Lots of luck going forward. And please do send us pictures of. Of all that yellowness, man.

You got it. I appreciate you guys very much. Thanks for having me on.

Hey, thanks so much.

Thank you, Josh. See you later.

Bye, guys.

All right, guys, that was Josh Randall. Big thanks to Josh. That was a great show.

That was a fantastic show. I mean, I was like. Like, seriously, like, laughing hysterically. There's points where I turned off my. My microphone and I was just like.

Like, that was pretty fun.

I'm sure my wife's probably in the other room. Like, what is he laughing about? Anyway, so, yeah, I thought it was a fantastic show. You know, one thing we didn't really spend a lot of time talking about, but it was so, like, important. You use the word bottleneck, like, in your business, like, you are a bottleneck to something. Right now. Everybody is somewhere. So, like, I think it's an important thing to ask yourself, what are you bottlenecking in your business? Like, what. What are you stopping progress from happening right now? And how can you get out of that? I thought that was. It just made a big impact on me. I started thinking about, you know, what am I. Where am I right now that I'm on Bottleneck?

I love it. I love it. Awesome.

Yeah. Great.

Great. Well, a great show. Brandon, you know, go. Go find a plumber.

I'm gonna. I think I got the guy for a thousand bucks for a half a day or whatever.

The word is gonna be absurd. Absurd.

It was a guy that, like. Like, he's refused years and years of not. He's a licensed plumber, doesn't want to do plumbing anymore. He wants to be an artist, which is fine. He's a cool guy. But, like, I'm like, dude, I need you. I will give you a thousand dollars. And I think he'll.

Anyway, I love it. All right, man. Well, good luck with that. And. All right, let's get out of here. I am Josh Dworkin, signing off, and that's Brandon Turner.

You're listening to Bigger Pockets Radio, simplifying real estate for investors large and small. If you're here looking to learn about real estate investing without all the hype, you're in the right place. Be sure to join the millions of others who have benefited from bigger. Biggerpockets.com your home for real estate investing online.

It's time.

It's time for.

It's time.

The random five. All right, this is time for our random six or five or whatever we call this nowadays. Number one, these are random. Random six. These are random questions that we ask our guests just to get to know them a little better. Number one, if you could sit down with your 15 year old self, what would you tell him or her?

I would say try to leverage yourself quicker. Hire people earlier on, Invest in automated equipment a lot equipment a lot sooner. You know, a lot of times people don't want to invest in their business and you become your own bottleneck and it takes you 20 years. Then all of a sudden, once you start growing, you get it. You can really expand fast.

There you go. Nice. All right, what historical figure would you like to see in present day? Like, would you think it would be cool to watch George Washington roam around the streets or.

Oh, you know, I am a get.

Him hopping on social.

I'm a Christian man, so I would like to see the apostle Paul. I like Paul. He's a pretty good guy.

So you want to see what Paul knocks out on his Facebook account every day? I mean, is that.

I think the apostle Paul would probably say, hey, quit worrying so much about making money and do other stuff.

Yeah, maybe.

But he did write a lot of the Bible, so he's pretty good. There you go.

I like it. I love it. All right, number three, what are you currently reading right now?

Oh, you know what? I got it right here.

50 things I. Oh, okay.

I was gonna say the book with chapter 47, all about me playing to.

Win by Jerry Jones. Oh, just got it.

Jerry Jones. Isn't he the coach of that one horrible team? What was it?

Yeah, an owner. Hey, he's a billionaire, man, so he.

Knows what he knows what he's talking about.

People give him grief. But my thing is, if I'm in my 70s and I'm a billionaire, I'll be passing the football if I want to.

All right, so you've got this hummer, and you like to take people in it and sing karaoke. So how do you rate your karaoke singing ability from one to ten?

I only give myself a six or seven. Six and a half.

Wow. Okay. That's pretty bold.

Pretty bold.

Well, maybe I need to back it up now that you said that to a four. Yeah, I didn't think six was bold.

So I did sing the other night in Nashville. Got up on stage, the. The band. If you pay them 20 bucks, they would play any song. So I paid them another 20 to let me sing. They got. And I did Bon Jovi.

Nice.

Oh, nice.

Which one?

That would be a song I would sing.

I'll be there for you.

Okay. Okay. I was hoping it was like living on a Prayer. That would, you know.

That's my school. That's Guitar Herodo.

There you go. Hey, Josh Dworkin, how would you rate your karaoke singing ability if.

If I was singing Pearl Jam or Bon Jovi, it would be a 12.

Oh, yes.

Wow. If I was not bowl at all.

Anything else, it would be 1.5.

All right. All right.

So that sounds about right. All right.

I do like country music, though, a lot.

I do too.

Yeah, that's. That's good for you.

I'm a country music guy.

All right, I'm Scott down, man.

I can't stand it.

That's because you're a big city, you.

Know, you gotta like. I like some very, very limited country. It just can't be do twangy or.

Why, me neither. I'm not real twangy type either.

Yeah, yeah, yeah.

All right, Brandon, where is the last place you went on vacation? I think you mentioned Vegas. What were you doing there?

Well, that's this weekend. I'm going to Vegas this weekend.

Where was last.

Last vacation? We went to Dominican Republic, Grand Turk and Nassau, Bahamas.

Nice. What print or what cruise line?

Carnival.

Okay, I've done Princess. I've not done Carnival. What'd you do, Josh Dorkin? You went.

I don't remember. I just show up.

That's all right. It's my family's 19th cruise.

Oh, yeah, you are cruising.

But when you have four kids, it's. It's actually cheaper, I think, to cruise into this.

Yeah, I would not disagree.

All right, last question. What is your favorite guilty pleasure?

Oh, I. I guess playing cards. You know, I guess some people frown up on gambling, but I love playing Texas Hotem tournament. And while I was on the cruise, you won't believe this. So I'm playing Texas hold' em on the table game and hit a royal flush. And for a 10 bet, I won 5,000 bucks.

Look at you.

That was pretty nice.

Well, that's great. That's great. All right, Josh.

Thank you.

Thanks so much.

Thanks, guys.

Thank you all for listening to the Biggerpockets real estate podcast. Make sure you get all our new episodes by subscribing on YouTube, Apple, Spotify, or any other podcast platform. Our new episodes come out Monday, Wednesday and Friday. I'm the host and executive producer of the show, Dave Meyer. The show is produced by Ian K. Copywriting is by Calico, Content and editing is by Exodus Media. If you'd like to learn more about real estate investing or to sign up for our free newsletter, please visit www.biggerpockets.com. the content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose, and remember past performance is not indicative of future results. Biggerpockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising from a reliance on information presented in this podcast.