How To Take Massive Action In Real Estate With Kevin Reinhardt

Hey everybody, welcome back to the New and Experienced Investor Podcast. Today we're talking about how to take massive action as a new investor. It's definitely a show you don't want to miss. I'm Alex Barnett. I'm one of your hosts. I'm the new guy.

And I'm Joe Homs. That makes me the experienced guy and back from my cruise.

That's right. He's got a tan and super relaxed.

I don't know. It was just up and down the coast and it was San Francisco and it was gloomy like it is outside right now.

So. So not much of a tan?

No.

Okay.

But it was fun.

I'm glad you had a good time.

Yeah, I had a great time.

Tell us all about it. We have an amazing guest with us today.

We do?

Yeah. He's a new wholesaler, new fix and flip, um, in the middle of his first deal right now. Uh, we're gonna talk about it. Uh, before we bring him on, let's, let's tell everyone about our new location of the new meetup.

Well, it's this coming Monday the 17th, and our guest is going to be Mr. Burton from PropStream.

Yes, sir.

And if you're a wholesaler, that's a good meeting to go to because he's going to teach you how to find properties.

Yeah.

You know, uh, the new location, uh, Knollwoods in Irvine off of Sand Canyon and the 5. And if you've never been there, it's been there forever. Honestly, it's been there for, wow, 30, 40 years, I would think.

It's a staple.

Yeah. But if you've never been there, we were there today earlier, and there's a mixed crowd there.

It's interesting.

Let's just say it's a mixed crowd. Yeah, it's interesting. It's gonna be fun. Yeah, it's gonna be fun. Don't miss it. It's gonna be fun.

Yeah. It's gonna be a good time. They have beer there too.

Drinks.

Yeah.

Uh, stagecoach. I didn't see any bull riding.

Did you see bull riding?

No.

They got some games.

Yeah.

Yeah.

I think the games were all out of order.

The games are out of order, but still, they have the games.

So, okay, they have them.

It's gonna be a good time.

Yes.

I always like to remind you guys, this is a live show, so please share it far and wide and jump in the chat. Give us your questions, grill us, you know. Let's get some stuff answered today so you can keep moving and be successful. Um, all right, let's go ahead and bring in our guest today. We have Kevin Reinhardt. Kevin, how you doing? Thanks for coming on.

I'm doing great. Thanks for having me.

Yeah, why don't we just jump right into it? How did you get into real estate? Um, let everybody know, you know, sort of your bio, your background.

Sure. So, um, first started kind of getting into multifamily a little bit and, uh, reviewing deals Kind of went after some multifamily investors and looking for people to mentor me on how to get started with that. So did a bunch of that and then started to look around for meetups in Orange County. And that's where I came across your guys' meetup and met Alex and Joe, and then started working with Alex and created— Alex created a list. And just been cold calling a bunch of homeowners in Orange and Riverside County and seeing if they're interested in selling their house.

So heck yeah. And got one under contract.

Yeah, pretty excited about that.

So how long did that take?

First talked to her in, I think it was September, end of September, beginning of October. Not a ton of time, but and pretty interesting. Kind of got her through another lady that I contacted off the list.

So yeah, and this was kind of like why I wanted to bring him on because we've given this list to quite a few people. Yes, same list, same list.

And I tell people the same thing. It's like, sorry, just keep calling the same list. You know, one day you're you're gonna call and they're gonna like you on the other side of the you know. I like this guy. It's like you know he's nice or whatever. Yeah. So you never can tell. You could be the first call, the last call, whatever caller you are, definitely call.

Call.

And like he said, he had called about another property that one ended up fizzling out, but she referred us to this other one and it's way better than the original one. She's like, yeah, I know another lady that's selling. And we looked at the price, we're like, yeah, that's good. First, we were going to flip it, but because the spread was so large, we're just going to wholesale it to another guy that's flipping out there. So everybody wins.

Nice. And so what was the negotiation process like?

It wasn't too bad. I kind of used the other lady that I originally spoke with out there. And with her, I probably had a good 6 to 10 phone calls with her originally and kind of built a rapport with her. And I think that's what led her to telling this other lady that I was interested in buying houses out in that area. And then, so she called me initially and then had a long conversation with her and kind of seeing why she wanted to sell and what she was looking to do. And kind of gave her a ballpark price at first and asked her to give me a rundown on the condition of the house. Everything else that was involved with it and wound it up. She accepted the offer that we gave her.

So now, was that just a blind offer that you sent out there, or did you actually go take a look at it?

We got some initial photos and stuff. It was really kind of hard to pin her down for a time to meet and stuff, and I think she's busy with doctor's appointments and other things. So Kind of just worked with Alex on that, and it all worked out.

So, okay, so you got her under contract, and then have you actually gone out to look at the place yet?

Yeah, yeah, yeah. We— I walked it with the buyer. It was a lot worse than I thought, but he's—

Of course it always is, you know. My house is the best one on the street, you know. It's like, oh God.

Well, you—

we knew just from being on the outside, like, it's one of these houses where There was a lady living in the van in the driveway. So I, we got, we walked or I went—

Pad split situation.

Hemet pad split. East Hemet pad split.

Yeah.

And then while I was waiting for her, cuz she was like showing up from a doctor's appointment, somebody was trying to get an RV started. It was like, you know, 3 crackheads trying to get an RV started.

Yeah.

And then they were pulling it into her driveway because they were getting, I guess, like code enforcement. It was like, you can't park. You know, this burned-out RV. So they, they got it started and then they were like driving it up the driveway, like trying to get it up. It was pretty fun to watch, but, but we didn't end up getting inside that day. But the whole outside is pretty much filled with, you know, stuff, collectibles.

Were you there as well?

Yeah. So kind of, kind of interesting story was she called me on, I think it was a Sunday morning. And she was like, I'm fed up. Uh, I got people stealing things outta my house. I wanna sell like now. So I said, no problem. Um, and I, I was like, hey, I can drive out there this evening and meet you. So, um, she's like, great. So I leave, drive all the way out there, and her phone is, seems like off. And prior to hanging up with her, she's like, I'm just gonna be going over to the doctor and So she gave me that address where, 'cause I was gonna maybe meet her there to go over the paperwork and stuff. Um, so I show up there and she's nowhere around there. Her phone's off. I check inside with the hospital. They say, um, don't have anybody currently here for that. So I was like texting my wife. I was like, hey, I'm ready to like drive back home. And this was like a no-go. And she's like, hey, since you're out there, why don't you just go over, uh, check by the house to see if maybe she's there. So go over to the house and turns out that she was on the property there coming out and got her to, uh, she's like, hey, sorry, my phone turned off, and got her to sign the contract that night. So it worked out.

So another smart wife, Lauren, huh?

Yeah, because I was— yeah, I was telling him, I was like, yeah, she's gonna like blow us off, you can just leave, go back another day. But his wife pushed him. Freaking got it signed.

See, next time talk to Lauren. Okay.

Don't talk to me. Why so bad?

Talk to Lauren.

Yeah, dude.

They do.

No, why? I freaking know. That's so cool. Yeah. And then, um, had a buyer pretty much. He's, he's always buying in this area and he was excited. So yeah, pretty much made it super simple. So we're gonna double close because it's a larger assignment.

Got it. So Got it.

When Alex showed it to me, I was just looking at it. I was like, you wholesale it, you make the same amount as a flip. We know a buyer out there. Let's see if he wants it before we go through with the flip.

I know, I know.

Less risk, less holding.

Yeah, yeah. Just, I think we're—

yeah, no-brainer.

Yeah, we're only out of pocket like $100 at this point because we just, every time we meet her, we give her like $50 and she's so happy. For the gas money and all this stuff.

Yeah, I bet.

Yeah, yeah, just little things like that go a long way. They do.

We're gonna help her move out of there too, so—

Oh wow.

She's super excited about that.

That's going above and beyond.

Not that I've ever done that, or I have physically gonna do it, but we're gonna reimburse her for the moving van. I have done it.

I hired a moving van and then At these places, I'm sure they're still the same. They've got guys there.

Yeah.

And I said, I need 2 guys. And they jumped in the truck with me. We went to the house. I said, here you are. Here's the truck. Here's the 2 guys. You can go back when you're done to the storage place and put all this stuff in there, which he did. So, I didn't actually help him move, but I Facilitated the process, which you need to do sometimes.

Yeah, yeah, definitely. Because yeah, she's got quite a bit of stuff. But it's, it's for all of the deals that everything should go wrong, this one's like actually pretty smooth.

I'm just like, yeah, really?

So that's gonna be my mentality now because every time I'm telling them like, yeah, it's just probably gonna be pain in the ass, you're gonna have this obstacle. No. Boom, gets right, like just keeps going forward.

So no teachable moments?

Not really. I mean, it's just, yeah, it's all like, there's probably 15 liens from the county for like, I forget what they call, rubbish or something, you know, just, and non-permitted things.

Yeah.

Buyer's like, I'll just take it over. It's not a problem 'cause we're gonna, you know, that's all the stuff we're gonna fix.

Right.

But yeah, it's just super simple.

Nice.

Yeah. There was a demand that we needed to get. And she's like, I don't know who the lady is. It was like a seller finance sort of situation. Escrow lady's like, oh, I found her. I thought that was going to be one of the things. There's just some random lady that has the lien. We don't know where she is. And then yeah, Carmen found her.

Yeah, I was worried about that too.

Yeah, I bet the lady's happy. Yeah. Wow. It's like she's getting money, right?

I apparently it was already paid off. Oh, but she needed to sign.

Okay. Yeah, the reconveyance.

Yeah.

Got it. Got it. I don't know.

But yeah, it's it's going well. That's it's going good.

That's always good. So yeah, you know you come to me and say yeah, it's paid off. You need a reconveyance. Yeah, that's gonna cost you a hundred bucks. You know, at least a hundred.

At least a hundred.

You know, lunch out of it or something. Come on. You know, you should have thought about this when it actually happened.

Which is kind of interesting because, I mean, that's just off the honor system, I guess.

Yeah. Yeah.

I mean, you could just— someone could have paid you off.

You're going through something like that right now. We talked about it at lunch and you just had somebody pay you off. And I'm kind of teaching you, this is what you need to do. But obviously you're doing it the right way because he's a nice guy. You know, so he's gonna do all that stuff the right way.

He's gonna do stuff above board.

Yeah, and if you didn't, then, you know, a few years later they come back and go, hey Alex, yeah, thank God we found you, you need to fill this out. And you'd look at them and go, yeah, I need to eat lunch too, how about lunch?

Yeah.

$100.

$100, I'll sign it for you.

$100, I'll sign it for you.

We— I do have listings with a couple sellers that we were trying to To buy their property, but we ended up taking them on market because they want too much. But that's one of the issues they have. They have paid-off seller finance notes, and the, the owner of those notes is refusing to sign reconveyance at closing.

Really? Yeah.

So they were in escrow to close last year, and he basically said, no, I still own this property. And we showed it to Noah, and Noah was like, We can write around that. So, okay, we'll see if we get into another escrow, what he can do.

Noah's our title rep. So just, just for you listeners out there, if you need a good title rep from First American, then Noah's your man.

Yeah. I mean, half the battle with putting these deals together is having these resources. So, you know, a lot of— maybe somebody else would get stopped on A, B, or C.

Yeah.

We just have—

they get frustrated.

Yeah.

You just You can, you know, keep pushing forward and solving all the problems.

You know me, I like those issues.

Oh yeah, I live for that.

Yeah, go knock on the door, wake the guy up, he's passed out on the couch and been drinking all day. It's like, you need to sign this today or else you're gonna lose this place in 3 days. Okay.

Yeah, that was a good one too. But you know, my main point for this whole podcast is, okay, we've given this list to people. People start calling, and then you know a few weeks go by. Start hearing like, "Whoa, no one's answering anymore." I'm getting all these you know phones that are like you know not connected. People are asking me, and they're like, "Do you have another list? Is it is it the list?" So what would you say to that? I mean, why I didn't really hear you complain about any of the numbers or anything like that. and you went out there, got a deal that's going to be pretty substantial, um, like, what would you say to people?

I would say, um, when I first started, I would get a lot of nos or just straight hang-ups or cursing you out or whatever it might be. And then you get a ton of those, then you get a smaller amount of people that actually have a little conversation with you, and then a smaller amount from that that'll actually are interested in selling. And then, and then you weed down to very little. But I, I think I want to hear nos because I know the more nos that I get, there'll eventually be a yes. So I think it's just all about the numbers. If, if you want to, if you wanted it, you can do it.

And, and you need to know what the process is. You need to know what those nos are so that you can answer them correctly as well. I mean, you could change a no to a yes. If you know, you know, I get these nos all the time, but if I say this, maybe I'll get a yes. So, and the only way to learn that is to call.

Yeah. And I'm starting to incorporate other things like if it's a for sure no with that person, then it's, hey, who else do you know that family or friends that's thinking about selling soon? Or hey, Who else close to you that might be looking to sell in the next two months from now, and then see if they'll provide me with that information. If not, very least, maybe they can pass on my information to them.

So, which is what happened.

The deal is that the deal you're talking about is at a mobile home. Okay. Is it fifty-five plus? No. Because I was to say fifty-five plus, you go in those communities and everybody knows everybody. You know, so those are great questions to ask. You know, Ethel was talking to me the other day and she's thinking about selling. Yeah, I can get you his— her phone number.

No, this is, this is one of those areas because it's even further, like Hemet has these pockets and this is like its own little neighborhood. So one of the days I went over to meet the other lady who was all like pissed because She was like, I'll sell it to you for $95 grand. And we're like, okay, that works. And then she got pissed at him because she's like, oh, a realtor told me I could get $130 and you're trying to rip me off or whatever. So I went over there to try and talk to her, and while I was there, she was pointing people out like, oh, this lady wants to sell, that lady wants to sell. So she knows kind of the whole block and what's going on. So it's the same sort of situation.

Yeah.

So we, we thought of like, oh, we're gonna pay her a referral fee because that's how we got this one.

Mm-hmm.

And be like, hey, every time you bring us somebody, break you off.

That's probably more than she's gonna make.

And once this one, uh, finalizes, I'll definitely— I'm gonna hit her back up again, even maybe drive out there and, uh, see what else she can, uh, if anything's changed with her or if she knows someone that Wants to sell. So we just gotta go door to door, freak people out.

Well, this was like one of those, um, properties where I was standing there with our contractor and people were like coming up. They're like, are you gonna buy this place?

Thank you, sir. Yeah, thank you.

This has been terrorizing my life.

Yeah.

Oh my God. Like 4 or 5 people came out.

I keep calling the city every day. Yeah. That's where all the violations come from.

They came from me.

I know.

And that's what's funny, 'cause the homeowner Owner is like, these people are all narcs, they're trying to get him. Yeah, yeah, true.

And the rest of the neighborhood is like, you know, pretty nice for Hemet.

Yeah.

So this is definitely the, you know, just needs a little bit of love. That's what's gonna happen.

That's the game.

That is the game.

That's the game.

Our, um, our stick home flip right now is like that too. It was Basically a flophouse, crack den. The people actually didn't vacate when we went to like get the keys, and we were a little worried, but they just took off in their cars when we showed up. And, um, yeah, some neighbors have started wandering over, and we did pretty substantial rehab to this one, and we're like, we're gonna get code called on us, whatever. They're just like, oh my gosh, this is like— this has been the bane of my existence since we moved in here.

Yeah. So they're happy.

They're very happy.

Yeah.

Yeah.

That's good.

Yeah.

Building good rapport in the neighborhood.

There you go. Yeah, that's kind of what we strive for is getting the worst house in the decent neighborhood. But yeah, I mean, so take us through maybe your schedule because you do work a W-2, so full-time. And overtime. So how are you fitting this in and, you know, being successful at, at real estate at the same time?

So I'll, I'll use it on my days off. I'll make calls over the weekend. If I get time in the evenings, I'll make calls then. So, so pretty much any, anytime I can set some time aside to make phone calls, I'll do it. So it's, it's obviously, Prove successful.

So what does your better half say about all this? Is she on board?

Yeah.

Yes.

Yeah.

Yeah. It's always important. It really is. Yeah. And she's obviously the smart one in absolutely you know the two. Yeah.

Yeah. She helped get the deal done.

Yeah.

Definitely.

For sure. Yeah.

What do you say to people that have excuses? I can't get a hold of anyone. I You know, is this list old? Um, there's, there's a million of them. What, what, what can you say to them?

I don't know. I think you could always find excuses for things. So I think it's a question of, can you put those excuses to the side and just focus on your task at hand, which is making calls? And, uh, and eventually, you know, to get a yes. So Yeah. I would say if, if you want it bad enough, you'll be able to dedicate the time to do it and you'll be successful at it.

There you go.

And I mean, I'm, I'm learning stuff every day with how to talk to people better than I did on my first call. So, um, who knows, maybe I'll be getting more deals because of that, um, moving forward. I'd like to think so. So, um, I think it's just repetition, just doing it over and over and over again.

Yeah, absolutely. And it's like, this is just a stepping stone. Like you mentioned, you got into multifamily at first, you know, and maybe this is your path to that. You know, you have like an end goal in mind. It's not to be a wholesaler, but now you're generating leads. Now you know how to talk to sellers. That translates to every other aspect of whatever your end goal is.

Yeah, for sure. My, my end goal would be to take the profits from this and then to deploy that into multifamily RV parks or any other larger investment properties that I can hold for long-term.

Heck yeah.

Heck yeah.

Nice.

Yeah.

And so, I mean, now once you get this, let's say it goes through, it goes to the closing table, you get some return. Are there— is there anything you're going to invest in as far as this aspect of, I guess, lead generation?

Yeah, we talked for a little bit about that earlier this week and definitely going to be looking into a dialer so I can start saving a whole bunch of time by just calling multiple lines at the same time. So I'm going to be looking into that. Uh, also going to be looking into kind of developing my online presence a little bit better, um, for my business and, and all that. So I'm going to be looking into that. That way it's easier for people to contact me and start building a brand.

So yeah, exactly. I mean, referrals are huge in this business. Once, once people know what you're looking for, you'd be surprised that You know, someone could come to you like, oh, this guy fixed— is, you know, looking for a fix and flip. Then you start working with wholesalers and you get buyers. And you get buyers. Yeah, I know.

That's important.

That is. Yeah, yeah, yeah. This one guy, I mean, if we can keep finding some of these, this guy's going to buy everything.

Nice.

I know. We found him randomly too, because we We listed on market a couple of distressed properties and he bought both of them.

Oh, I remember those.

Yeah, he bought both of them and he sold them for way higher. I mean, one's pending now.

That's it.

Way higher than I thought the ARV was going to be.

Yeah, we have to see what it closes at.

So he, I mean, he knows the area pretty good. So I was like, fuck.

He, he didn't give it back to you to list? No, no, no.

He has like his own brokerage and stuff. Got it.

Okay.

Yeah, his family's been in Hemet area for like 80 years or something.

Oh.

Yeah, they own like all his commercial buildings.

He knows everything.

Yeah, he knows everything. Wow.

It's pretty cool. Wow.

But, uh, remember when I told you there was like a sewer issue?

Yes.

Yeah, so there was a septic tank on one of these mobile homes. All the other ones on the street were hooked into the city sewer, and for whatever reason, they didn't have a lateral line on this one with the septic. So this one with the septic was actually running to the neighbor who was going to the sewer. Yeah. So it, it was kind of an issue trying to sell 'em separately. That's why we ended up selling to him. But he told me, I went and walked it, uh, both of these with him. He's like, did you actually see the septic? And I was like, no. And he's like, yeah, it's completely fine. So we're just gonna, you know, just put it back together and hook it up.

Oh.

So, and then Oh, see? Yeah, I know.

A little bit of knowledge.

I know. Yeah, because we originally had a buyer. She brought out a septic inspector. He's like, oh no, you're gonna need a whole new system.

And they wouldn't install a system.

Yeah, they won't install it.

They're like forcing us to get utility.

Because they want you on the city sewer and it's gonna be like $50 grand to do that.

Oh geez.

So yeah, he separated them and got that one on the septic system. So Yeah.

He went to high school with the guy at the city who takes care of all that stuff.

Probably did.

I know.

Yeah. I want to get—

Probably did.

So into real estate that, yeah, I know like council members and like the people at the permitting office.

Yeah.

That is how you really—

Buy them lunch. Lunch. I'm telling you, lunch goes a long way.

Yeah.

It does.

And envelopes full of cash?

Oh no. Be careful there.

All right.

Yeah.

But you know, lunch is just a lunch.

Just as a Christmas present.

Okay.

Just a lunch.

Simple lunch at Nobu.

Just a lunch.

Just a lunch at Nobu.

Big lunch guy.

Yeah.

Big lunch guy over here.

Big lunch guy. Yeah.

It'll all come. But amazing. So what do we have on the horizon for you? I mean, what gets you excited about all this stuff?

I'd say co-living. I'd like to get into that. We were talking about another property out in Moreno Valley that I've been I've had multiple conversations with the homeowner there.

Mm-hmm.

And we're thinking that could be a good co-living house. So yeah, I'd love to get in that space.

And then, um, where'd you find that lady? Was that on that list?

On a list.

On that list that I gave you?

On that list.

J's people. Okay.

I'm trying to tell everybody that list is gold and you're not calling it. All right. Sorry.

So much you can do.

Just continue.

Yeah.

I mean, there's, there's, I think the last time I checked, there's probably like 17,000 houses on there.

Yeah.

And I'm only like 2,000 in, so.

Oh my God.

It's like panning for gold.

I know.

Yeah. It's there. You just have to get out there and do it, you know?

Yeah.

Break a sweat.

Yeah.

Mm-hmm. Yeah.

So yeah, obviously doing more, more of these wholesales. I'd like to do some flips with you.

Nice.

So I could learn that process and the co-living space and then eventually into hopefully multifamily.

Nice.

And then we also talked about possible out-of-state mobile homes on land.

Heck yeah.

So I've already made some— already reached out for some contacts with that. So—

Nice.

Could be good.

Action taker. That's what I'm saying. You know, and it, it's really like you were working, let's say 50 hours a week and you're still putting time into this. And I mean, real estate doesn't have to be 40 hours a week. I mean, you could get a lot done working part-time.

Absolutely. Yeah. He's proof.

He's proof. And I wonder if it's focusing on the actions that really matter. Because, you know, some people will spend all their time going to like meetups or something, and then that's all they do, or, you know, just consuming videos.

And well, they definitely need to come to our meetup.

No, they come to our meetup. That's once a month. Yeah, for 3 hours. Yeah, but you know, some people, they're going to all the things.

Yeah, and then do the analysis paralysis stuff is what you're talking about.

Probably.

Yeah, yeah, get over that. Hump, so to speak.

And even how we started working together, like, we met at the meetup and then you're like, I want to take you to coffee. And then it was like, boom, we had like a deal together, like, I don't know, a few weeks later.

Yeah, totally.

Wow. It's not hard.

Yeah, it's honestly, it's kind of like when we met.

Yeah.

You know, like 3 months after I was teaching at a wholesale, you had a deal for us. And you made some good money and you said, here, I want this. And we said, no, we will give you this. And you said, no, I want this. And we ended up giving him what he wanted, you know, because it was a good deal. It was. It's a good deal. But we did negotiate.

Yeah.

Yeah.

Yeah.

It was a little cuter than that. I think we asked for a Christmas bonus.

Oh yeah, it was around the holidays. So I dropped Christmas on you guys.

Did you?

Yeah.

Okay.

It's so cold, sir.

Please.

Please.

Well, it was at the time. It was right after COVID. You know, it's like nobody's doing anything or working or anything like that. Yeah.

That's right.

Yeah.

Yeah.

It was.

But, uh, yeah, I mean, that's, that's, it's the main reason. And I'm so glad that even though maybe in your mind you think you haven't done that much in the real estate space, it's like just taking the action and then seeing results is what people need to see. Because they think they're doing enough, but I don't, I don't know. I don't know if it's necessarily doing enough or focusing on the things that matter. And sometimes it's the stuff that nobody wants to do, which is sitting there on the dialer and calling, you know? Because I'll have some people, they'll call and then they want to be like, how can I be more efficient with this? How do I— they start like being like Asking me these questions like, how can I be this or more? It's just like you have to literally just sit there and like call the number. It's so simple that you think there's another way to get there, but I don't think there is.

Yeah, it's weird. It's, uh, some— sometimes you call and like, for instance, the first lady that gave us the, the lead for this deal that we're closing, she was like, I wasn't gonna pick up the phone, um, but I was expecting a call from a doctor. So, um, You called. And, and I, I typically try and call 2 to 3 times because I notice a lot of times, even after the second call, people seeing a number they don't recognize, they're not gonna pick it up. But, um, usually for sure on the third time, I'm getting a lot of good, um, pickups from that. I mean, nice. So a lot of times they're saying no, but at least I'm getting somebody on the phone and then that property's kind of closing that out.

So. The old triple tap.

The triple tap.

The triple tap.

And then I was just thinking, what if you could get your caller ID to say doctor?

Genius.

Yeah.

Yeah.

What's my doctor calling?

If you have Verizon, well, I guess you guys are using dialers, but you can change your name on your Verizon account.

Yeah, exactly. Dr. Cash.

Yeah.

I didn't know that.

Cash doctor's in.

Yeah.

Yeah. Cash Patel.

Just Cash. Just Dr. Cash. I don't know.

Dr. Cash. Okay.

Could be pretty cool. Um, this is the part of the show we have a few videos that we've curated. I would love to get your reactions right here, straight up.

All right.

Are you down?

Yeah, let's do it.

All right.

All right. This first one is wholesaling courses be like.

Gotta do the—

Okay, okay, hold on. Can I start it over?

Sure.

Hit, um, hit— yeah, reload and then hit the— there you go. Welcome to the Real Estate Wholesale Masterclass, where we don't buy houses, we just talk about them. You just made the best investment of your life for me. See, when I started this course, I ain't have no house, no license, not even good credit. I just kept hearing folks say, wholesale real estate, wholesale real estate. And I said, you know what, bet. And a wholesale real estate course was born for $600. And I appreciate your investment. Thank you kindly. Now I know what you're thinking. I don't know where am I supposed to get a house to sell if I don't have a house? Slow down, slow down. That's why you broke. You're thinking too much. That's where step number 1 comes in. First, find a house and post a picture of it on Instagram with the caption, closed another deal. Don't worry about the paperwork. It's about the marketing. For more information, buy my next course.

What's up?

Thoughts?

I love the transition from being super excited and getting that credit card out to just completely turn it off. That was great. Yeah.

How much, how much did Alex charge you?

Uh, it was coffee, Joe, so it was even less than a lunch.

Wow. I keep telling him he needs to up his game, you know. Lunch is best.

I'll get there.

Yeah, lunch is best.

Yeah, yeah. But, uh, I mean, it's kind of funny that it's becoming sort of a hack premise now that everyone has a course and stuff. And I think having a mentor is different from Having a course. But education is obviously very important, but I think people will prey on the newbie and get them to sign up for all this extra stuff that they don't necessarily need. So I think just, you know, going to meetups, finding somebody that's doing what you want to do, and teaming up with them and adding value, it's like classic.

Yeah. Are you concerned, you concerned that you're teaching your competition?

No.

Why?

Because there's plenty to go around.

Thank you.

Yeah.

It's like, especially in real estate, you know, everyone can get paid and there's more deals to be had, you know?

So—

Yeah.

You, you wouldn't have been partnering on this deal without him.

Exactly. Yeah. Yeah, for sure.

For sure. You're teaching them. And on the same note, you're, you know, yeah, making some money.

Yeah. No, it's, it's, that's what I love about it. And being able to partner with people, especially if you have, you know, different skill sets, it just, it can make the whole thing great.

Do you have a skill set?

I do.

You do?

Yeah. I'm likable.

Oh, and you listen to your wife.

And I listen to my wife.

Okay. Yeah, that's good.

But sometimes it's worked out because like there'll be days where I'm like, oh, I'm already out in Hemet. Let me, you know, handle this. Go by the property and then there'll be like days where I can't go and then he's like, I'll cruise out there. So it's just been pretty seamless.

Oh, nice.

Yeah.

That's good.

Yeah, it's been good.

That's what the partnership is all about.

That's what it is. Yeah.

Yeah. You know, the way we partner up is I don't go to Hemet.

No. You go.

Yeah.

Yeah.

Oh, you've been out to Hemet with us before.

I have.

In the beginning.

When's the last time that I went out to Hemet?

It's been years.

We went out to Hemet, Alex and I, and we stopped at a Sizzler out there and I introduced him to Sizzler.

That's right.

And the 70-plus crowd that's there all the time, you know.

It was nice.

Yeah. Have you been to the Sizzler here in Lake Forest?

Not that one. No, no, I have been to Sizzlers.

Yeah. Like, am I right? It's 70 and above that go in there. And this one lady was leaving Sizzler and she's hitting on him. He's— we're coming in and she's hitting on him. And she's like, what, 75 or something?

Yeah.

Yeah.

He's a likable guy.

He is a likable guy. He's a likable guy.

It's my superpower.

Yeah.

All right, what do we got next?

Next we have, um, how to take action and get started in real estate investing.

So here's how to get out of analysis paralysis and, and start making some moves. So reading 100 books won't make you an investor. I learned that the hard way. Here's how I finally broke the loop. So number 1, set a 30-day learning window and then take action. Number 2, join a live group with accountability. And then number 3, pick just one proven strategy and commit. Pick one proven strategy and commit. You know, learning is great, but, but implementation, that's where the magic happens. So comment the word action and I'll share the simple system that I use to help me get moving. Of course, he had to sell his course at the end, but what do you think overall about his message?

I think that's, that's pretty spot on. Um, yeah, a lot of good tips in there as far as, uh, finding one course of action and sticking with it.

And yeah, yeah, because I would say that's like the other You know, the other battle is trying to stay focused on one thing. And because real estate's such a long time horizon, you know, I mean, I would commit to something for a year and see if you like it.

He made me dizzy.

I, I know. Yeah.

It's like he was either on a horse or walking uphill. Either one is bad for video. Just stand still and talk.

Okay.

It's like, Where it's up and down. It's like, wow, wait a second. You know?

Yeah, for sure.

Hold it, Nelly, hold it.

I know. I, I was thinking about that, but—

I don't know what he said. He, he made me dizzy right away. It's like I lost him.

Yeah.

Yeah.

He is basically saying the implementation of the action is key over, you know, educating yourself too. You could be the smartest educated real estate person, You know, there ever, there ever was.

You mean work?

Yeah.

Oh, got it.

And then go out there.

Got it.

Take what you learned in that book and then, yeah, you know, make it happen.

Okay.

All right.

Yeah.

All right. We got one more.

Okay.

Why most real estate investors fail?

You know, they're event junkies, but they don't take any action. They don't have any clarity, right? There's, real estate's a big industry. And because it's a big industry, there's lots of different things that you can focus on. And they watch a podcast or they see something on YouTube of what some other experienced investor for the past 10 or 20 years is doing. And they're like, they want to do the flavor of the week, right? So then they just give up too soon, right? Like it takes time to actually become an area expert at that strategy in the city of what you're doing, right? It takes time to be known, right? You got to do the work. You got to go out to all the meetup groups. You got to shake a lot of hands. You got to make a lot of phone calls. You got to do a lot of outreach. You're going to have your Build a team around this, right? And too often people just give up, you know, they're event junkies, but they don't take— Thoughts?

Yeah. I mean, even when I first started looking at houses out in Arizona to buy for long-term rent and then for multifamily, I was kind of flipping back and forth quite a bit and not really focused in on one thing like I am now into cold calling and wholesaling. Flipping. So yeah, I can totally see how you'd try one thing for a little while and you're like, ah, it's not really panning out. Let me switch over to something else that I see somebody else is successful in. And when in reality, if it's something that you want to do, just stick to that.

Yeah. I mean, that's one of the hardest things is like dealing with the social media aspect of everything. Because you think, oh, this 17-year-old kid just made $300 grand wholesaling. You know, but so how am I gonna compete?

Lies.

No. Yeah, most of them are lies. Most of them are lies. It's not real, but you know, it gets in your head and it starts freaking you out.

I remember being at a meetup with a friend and we— I think Joe was there. It was just gibberish that one of the speakers was talking about and her friend was like, No, it can't be. He poses with Lambos and stuff on Instagram. He could just walk up to that parked on the side of the road and take a picture. It doesn't mean it's his.

Yeah.

Yeah.

That was pretty bad.

Yeah.

Well, it was supposed to be about CRMs and systems and stuff. And then we get there and the guy's like, okay, so I forget what it was, but it just turned into motivational gibberish about just believing in yourself and all that. I was like, dang it. It was down.

Should I start taking more pictures of myself next to Lambos? Is that— that's gonna get me more hits?

It honestly will.

Probably will.

It honestly will. Yeah, that's what's kind of weird.

You don't have enough of your Cybertruck on your Instagram, probably.

And then you'd have to be able to— that's what I'm saying— sell something, but I don't know what. Yeah, like a course.

Yeah, you know, you know I don't sell courses.

I know.

Yeah, so just books.

Yeah, and my books are $10 apiece. It's not like I'm gonna get rich over that.

Yeah, you know, yeah, that's, that's when it gets weird. I'd rather just, yeah, be rich off the real estate and then, you know, just teach people. I don't know, that's it.

Lunch, lunch, lunch.

It's a barrier to entry.

Lunch, lunch, sweet Sweet lunch. Lunch.

So what got you into multifamily in the beginning?

I've just always kind of been fascinated with it, with apartment complexes and how the whole thing works. And instead of you just have, you know, say you have 10 house rentals spread out, you have everything kind of focused in one area and having a staff to kind of manage it and I, I just kind of like that whole aspect of it. Also like the development side of it too, with kind of how everything's put together and, and organization for that, I thought was pretty interesting. So.

Absolutely. Was there like a seminar that you went to that like got you in on that? Or like what first planted the seed of real estate?

I think it was probably some podcasts that I watched from, uh, with Ken McElroy.

Mm-hmm.

It was probably some of the first of it.

Oh yeah, old Kenny boy.

He's an old guy like me.

Yeah, Kiyosaki guy.

Yeah. Mm-hmm.

Ever go down the Kiyosaki hole?

I've, uh, I've read I think one or two of his books. Yeah, pretty good stuff.

Yeah, now he's like freaking out that the world's gonna end every day.

Yeah, I mean, he's been thinking about that for a long time.

He has.

Yeah, you don't believe him? No, I do. I think it's a good, like, arc.

You believe him?

Uh, I mean, he's gonna be right eventually, I guess.

Yeah, kind of like a clock, you know, it's right twice a day. Yeah, okay.

But it's kind of like, you know, it's a— it sells I don't know what he's selling now. Silver, I think. Yeah, he's like, the world's going down, you gotta buy silver.

Yeah.

Oh, he's not selling a course? He has to have a course.

Oh yeah.

Oh, he's got Rich Dad. Yeah, he's got Rich Dad University or whatever, which I think—

But yeah, he is selling silver.

Yeah, silver, gold. Yeah, some of that stuff. Interesting. Yeah, I had to unsubscribe from his emails because I'd like get freaked out. Like, it's like, wait, what did Trump just say? It's, you know, it's just good clickbait. It's like, what Trump said last night will shake the earth to its core. I get sucked in.

And you believe everything.

I'm a sucker for good copy.

You, you believe everything. And then I have to go to the source.

Yeah.

Your wife.

I know.

To reel you back in.

Yep.

They're, they're like, did you continue to roll down the scroll down the email? Because if you go to the bottom, it's like, this is a paid advertisement from silver.com.

Yeah.

Oh, okay. So none of that stuff is actually happening.

Yeah. Woo.

Good. So yeah, this next year I'm blocking all that out, just staying focused. That's it.

What do you want for Christmas?

I don't know. Another Hawaiian shirt?

Okay, yeah, you're— I think I've seen that on this episode a few times already. So yeah, probably time.

Yeah, we should go back and see how many times I've worn this shirt.

Start cold calling in Hawaii.

Oh, okay.

So that you and I can go now that your wife is with child and she can't travel, right?

Right.

Can't travel.

I can travel for a while.

No, you can't.

Yeah, I can.

No, you can't.

Up to like 34 weeks or something.

Okay, 35th week. We're there.

Oh, God.

Try it. Try it and see what happens.

No way I'm leaving.

I know women go by weeks, but what's 35 weeks? How far along is that?

That's like right at the end.

Oh, it is?

Oh, sorry.

Yeah, no, I wouldn't take them away for that.

Thanks.

No, I wouldn't.

It's like, yeah, month 8.

But if it's a good deal in Hawaii.

I'll start cold calling out there.

Yeah.

Yeah, see?

Yeah. See, we've got somebody that's gonna cold call.

There you go.

We have somebody, we know somebody that, you know, does cold calling and stuff out there. But, and he had a deal for us. And then it kind of fell through. We were literally on a plane getting ready to go. And yeah.

Yeah.

He might have another one.

And I tried to keep it a secret between us too. But now, oh my God, I had to tell her. It's like we've got her involved now.

I told him, it's fine. You guys go work on the property. I'll stay at the Ritz. No problem.

Oh, but see, but you had to go with us.

Oh, I don't care. We might be on the same flight and then we can go our separate ways.

Okay.

It's not gonna happen. Yeah, especially now.

He'd never do that to me.

Yeah, never. That's our special place.

Oh, is it? Yeah, it was my second child's special place.

Maybe that'll be my second child's second place.

Yeah, yeah, nice. Absolutely. Yeah. So we already know you're going to have 2. You haven't had one yet.

We're not even through the first 20. Yeah, I know.

That's all right.

Number 2's on the way.

Long-term goals.

That's it. That's what it's all about.

Yeah.

Co-living.

Yeah.

Co-living at its finest.

Yeah. Yeah, absolutely.

That's right.

Yeah.

This co-living deal that we're looking at, Marina Valley. Pretty good.

How many bedrooms?

4 right now. It's like a 4/2 or 4/3.

How many square feet?

2,300. Something. Yeah, something like that.

And the possibility of how many bedroom— bedrooms total?

7 or 8.

Really? That many?

Yeah.

Seriously?

Yeah.

They've got like a family room and a dining room.

Yep.

You're gonna turn into— and an office? Wow.

No, I haven't seen the inside, but they got some high ceilings in there, so that, uh, can be an option.

Double rooms on top of each other with stairs. That's the code.

Just hammocks.

Hammocks.

But well, what's good is the price that we're at. I think we're able to rehab it and then refinance into long-term, pull everything out, something like that.

And still cash flow.

And still cash flow.

Wow. Nice. Yeah.

It's actually a good area because the median houses are $500,000, $600,000.

No seller financing? Subject to financing?

Possibly. Possibly.

Yeah.

Yeah.

Mm-hmm.

Assumable financing.

I think it's paid off.

Oh, but then the seller financing would be really good.

Yeah. She just needs a certain amount to get to her next place.

A 50-year loan.

50-year loan. Exactly.

Why not?

Solves all our problems. I can get behind that.

Why not?

60-year loan. Why stop there?

Why stop there?

The next president, maybe Barron will come in and be like, 90-year loans.

90-year loan.

There you go.

If you buy, if you buy property in Mexico, you can't own it unless you're a Mexican citizen. I don't know if you knew that.

Or Irish.

Irish, really? No, I've never heard that.

Mexican-Irish War. Or the Irish—

You can get a 100-year, 100-year lease. Like, what do you care, right?

Yeah.

So what's the problem with a 50-year mortgage everybody's panicking about?

Just because orange man bad.

Oh, okay. Yeah, it's got a thing. Got it.

Yeah.

Um, Alex is right. An Irish citizen can own property in Mexico with certain restrictions depending on the location.

He's right once or twice a year.

Yeah, but not more than the clock.

Yeah, not more than—

call me old. Supposedly it's because the Irish fought on the Mexican side of the Mexico—

oh really? War.

Yeah.

You learn something new every day, even at my age.

Yeah, yeah, there you go.

Thank you for that, I appreciate it. I will say that in the future. Yeah, you Mexican or Irish?

She's gonna get her Irish passport too.

Oh, that's right, you've been talking about that.

Buying up in Mexico.

Yeah, along the coast. Yeah, right next to the cartel. Well, no, yeah, the cartel's gonna clean all that.

Oh yeah, that's true, that's true.

Yeah, he's gonna clean it up and then, you know, whatnot. Yeah.

Then you're good.

Okay.

Anywho, how can people reach out to you if they want to, you know, do deals or, you know, uh, now that you're, you know, buying fix and flips?

Now that you're famous.

Now that you're famous.

You can, uh, reach out to me on Facebook. It's, uh, Kevin Reinhardt on Facebook, or you can contact me through my email. It's kevinreinhardt422@gmail.com.

Beautiful. What's the 422?

That's my birthday, April 22nd.

Oh, okay. So we just figured out his password for all his, you know, email and everything else. It's got to have that in there.

Yeah, 12345.

Yeah, there you go. Or password. Yeah, you know, password works. Password 422. Yeah, okay, cool.

Well, uh, thanks for joining us today and hopefully inspiring some of these Noobs.

Yeah, thank you guys for having me. Appreciate it.

Yeah, thank you. Right on.

Thank you guys for, uh, joining us, and we'll be back here next week. And make sure to make it to our meetup here on Monday the 17th.

New location.

New location.

Don't forget, new location. You're gonna love it. You're gonna love the new location. Please come.

Absolutely wonderful. Yes, we will see you there. See ya.

If you want some more advice on real estate investing, reach out to us one-on-one. 949-625-4533.