Nathan Payne says new real estate investors lose confidence by not understanding flip math: ARV, rehab costs, hard money rates. The fix isn't more content. It's sourcing one property, hiring a contractor, running the actual numbers. His partnership with Corey turned their combined effort into a 50-100x multiplier.
What do you think's the thing that kind of holds people back?
Well, what held us back was not feeling confident that we could do it and not knowing our numbers and maybe running the math and feeling like we could take on the risk. That was where I was at. But there came a point where I was like, look, all these flippers are making great money right now and we're giving them like those spreads to do it. Like, we can do exactly what they're doing. We know how to go on Thumbtack or any of these like sites right now and hire a contractor, go on Facebook. So We just started doing it, but I would say for when I talk to students or people that are new, just take action. Like, you're not gonna learn it from just watching stuff. You're gonna learn it from action. And that's how we've gotten to this point. We literally just did it, you know, and we could have failed, but, you know, look, we didn't.
Yeah, I love that about you, Nathan, and your team, Corey, and your guys, because you guys are constantly trying to learn. I've never seen someone who's who takes education as serious as you do and taking action.
Appreciate it.
And that's really what this is all about. Like, it's not just we're here at a conference. It's not just go learn some cool thing.
Yeah, do it literally. I mean, I've been to conferences where it's like your mind gets blown and you go back and you're like, I don't know, I learned so much. But now when I go to conferences, like, what's the one or two things I can implement from this conference, right?
I can do Monday when I get home.
And that's what I got from going to Fast Track. I mean, that's along, it's like 2 days of this, like all this information. I was like, what can I learn from, you know, this experience? And the one thing you helped us out with a ton was me and Corey, we're business partners, right? And you said sometimes a business partner's 1 1 can equal 1. And that was us. We were 1 1 equaling 1. But now it's like 1 1 equals, I would say, 50 or 100. I mean, I'm saying that might be too much, but we definitely— it's—
we're doing our own leveraging your expertise. Yeah, so I remember talking to you because like both of you would go on appointments sometimes or whatever.
We drive to appointments together because we had fun, you know, we're buddies, went to college together, and our team, we're all friends. So it's, uh, you know, sometimes, um, you know, we, we just like to hang out and go on planes.
So, but definitely transitioning into a business where you're leveraging the people on your team to do way more than you're doing on your own.
Yeah. And one last thing about that question, like what I tell new investors is learn the math. Like, learn how to crunch numbers because you can definitely— if the numbers make sense, you'll feel confident. But if you don't know how to run a really good ARV, know your rehab costs and where you need to get it, you're— even the hard money, if you don't know how to do that stuff and feel confident, you're not going to want to flip, right? But flippers, they feel confident because they look at their numbers and they're like, okay, this makes sense.
And because you guys do nationwide, this is something you've learned really well. You guys are really good at it. In fact, You've helped a number of my students dispo their deals. You're always offering that. So guys, for sure, you know, leave a comment. Nathan will watch the comments too. But yeah, if you need help to dispo a deal, it doesn't matter where it's at.
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