How To Get A Return On Your Investment And Time

Hey, it's Mark Podolski, the land geek with your favorite niche real estate website, www.thelandgeek.com. and today's guest I'm really excited for, even though he's a bit intimidating. But before we talk to our guest, I'd be remiss if I didn't properly introduce my co host. You know him, you love him. The brain, the professor, your flight school sherpa. Scott Todd from scotttodd.net landmodo.com not automating your Craigslist and your Facebook postings. Posting domination.com thelandgeek Learn anything about anything. Investor ninjas.com Scott Todd how are you, Mark?

I am doing great. How are you?

I'm good, I'm good. Are you ready to talk to our guest?

I am. Yeah.

Let's go. Our guest today is gary boomershine from realestateinvestor.com. if you're not familiar with Gary, he founded realestateinvestor.com in 2005 out of the need to, and this is one of my favorite words, scale to scale and grow his own real estate investing and home buying business. With a family legacy in the real estate niche and a long successful career in enterprise in emerging technology markets, Gary saw the vision for realestateinvestor.com and he noticed the glaring opportunity to leverage people, processes and technology to gain a leg up in a changing and competitive marketplace. Gary Boomershine, welcome.

It is really great to be here. Mark and Scott, super excited, especially in this kind of post or kind of mid Covid thing that we're all dealing with. But I'm excited to be here and share some, share some lessons with your group and your loyal listeners.

Yeah. So Gary, Scott and I are obsessed with what you do because we don't want to build another job for ourselves. We can always make more money, but we can't get more time. So talk to us about that realization for you. Like that when the light bulb went out or went on for you and you're like, okay, how do I scale? How do I grow and how do I help other people do this?

Yeah. You know, so, gosh, who was. It was Rafael Vargas who I ran to him a few months ago and he basically said, hey, you're one of the OGs. And I'm like, what's an OG? Goes original gangster. Right? Anybody that's been around since at least one market cycle. So I got into real estate full time in 2004. So cash, it goes. Time flies, right? But it is interesting because you know, at the end of the day, real estate is, real estate is a, it's about finding the physical asset, buying low, right? Either holding or flipping. And it's all about deal flow. And so when I got into this business, I'm like, how do I actually just have a steady state of sellers, right, that I can make offers to? And so that started my journey. A little background on me. I came out of the technology, I'll actually go way, way back. I grew up in a family real estate business, all of us kids, I'm in the San Francisco Bay area and I was the youngest of four. All of us kids got our real estate license like two weeks after turning 18 in 1987. I was a licensed agent. I paid for college by door knocking and cold calling and, and holding open houses and things like that. But I really had no initial plans in real estate. I went down the technology path. Silicon Valley was just like the whole dot com thing, it was the hot thing. I have a computer engineering degree and I did four technology startups. And what I found is it was great, I learned a lot, but it was 80 to 90 hour weeks. I was traveling all over the world. I never actually got to see the light outside because I was always inside of buildings. And in 2004 with two small kids and my wife were like, this is no life. And I read Robert Kiyosaki's Rich dad, Poor Dad. So many of us, in fact I know 90% of the entire real estate community, we started, most of us started with rich dad, poor dad, looking for passive income, right? The definition of wealthy. And what really resonated are the four quadrants, right? You guys remember the four quadrants. And on the left hand side you've got the employee that's working hours and swapping hours for money. And then you go into the self employed, which is also a job. And then really where we want to go is the right quadrants, which is the business owner, investor. And so that really resonated for me and especially with my background. So that's what started my journey. And I knew that if I could actually have marketing and lead generation and put me in front of sellers and do it as fast as possible and consistently, that I knew that I had a real business and that's where my journey started. So I bought, I don't know, I probably north of 600 types of properties. I bought land, I bought apartments, I bought single family, I bought foreclosures and bankruptcies, you name it. But I think my real passion is around Generating consistent deal flow and actually having other people do it for you so that we can actually spend, have the lifestyle of money, right? And passive income, but also freedom, where a lot of real estate investors get stuck in the muck. They think they're going after freedom, but they end up getting stuck in all the do it yourself. And I always say to people, I'm like, if you are doing $10 an hour work, you're going to have a $10 bank account, right? So as a business owner, you got to run a business. Or as Warren Buffett says, a real estate investor is actually somebody that has money. They invest in a property and they hold it forever and take all the advantages of real estate, you know, of appreciation and depreciation. And so I really take those best practices and work to apply them because it's really easy to get stuck back in a job.

Scott Todd, this guy's like your doppelganger.

He is like, we have the same playbook. And I mean, even before the call started, Mark, we were in the same playbook. But look, Gary, that book, Robert Kiyosaki's Rich dad, Poor dad, there's so many gems in there, right? Like, one of the things that I took away from it is what Robert Kiyosaki said is that business owners on the right side of the quadrant, the one thing that they do is that they build systems. And the reason that real estate is so successful, or so, so easy, if you will, is because it's a, it's a contained system, right? He talks about how a house is a contained system. It's got plumbing, it's got electrical, it's got everything that you need to operate a business right there in your house. It's all in the household systems. And really what you're saying too is like, it's about the systems, right? Like it doesn't, you know, like, I love what you said about if you're doing $10 an hour work, then you're, you got a $10 an hour job. And I always say that, like with list scrubbing, you can pay a VA $4 an hour there, but people want to do the $4 an hour work. And it just makes me pull my hair out. And the, the reality is, is that what you really need to do if you want to build a business is to generate systems, right? Like, that's what it is.

It's not.

And it's not about, like, people think systems is automation. That is not what it's about. It's about processes. Like McDonald's, there could be no automation, the whole place, but yet they have systems, build the systems. And so I really like what you said about your job, should be like let me get the lead generation going, let me focus on generating leads. Because everything else, it's all junk.

That's right.

That counts as sales.

That's right. And I actually, it's funny because I have a slide, I can share it if you guys actually have the video side of this or I'll give it to you where you could post something that I think would be really helpful for all of us. So you know, I look at the two sides you've got, I almost call it the hard working real estate investor or hustler, alright? And these are the guys and we all start there and that's on the left hand side. And then you've got the real estate business owner or investor on the right, right? So the left side you've got things like you got to go and learn the strategies, you got the coaching, right? If you're doing land, you're taking courses on how to do land flips and how to find them, how to, how to profit off of them. If you're buying, flipping or wholesaling or apartments, you got to learn all that stuff. But then you do, you've got number one, you've got to, you got to find the data, right? You got the targeted properties. So they call that list stacking or data stacking and skip tracing. And you need, how do you get the targets then you got to do marketing, you got to actually get in front of those sellers, enough of them that are gonna convert into potential offers and deals. And there's a lot of work, right? There's the websites, there's the systems, there's the automated follow up people. All of a sudden they realize, okay, just because I have leads, 97% of the profits are gonna come through massive follow up and phone work. So there's a lot of work. Now the reality is all that work has to get done. So a lot of people where they get stuck, these, I call them the hard working real estate investors that often are going nowhere, they get stuck trying to take shortcuts and they're looking for the secret list or the secret postcard or the secret, like whatever the schemes.

They'Re going for the tactic.

That's right, they're looking for the tactic and at the end of the day the work just has to get done. Business owners realize, okay, this is the work effort or a funnel. We call it a funnel, right? It's the system of like data, then marketing, consistent marketing that happens daily, weekly, monthly, the follow up systems, and then the phone work, all with the, you know, you put money in and deal flow comes out. Business owners know that that work has to get done, but they apply leverage. Leverage of money and leverage of people. So I did this example.

Software, Gary.

That's right, and software. But somebody still has to run the software. There's people that still have to do it. And so business owners realize, hey, it has to get done. It's not going to just magically I buy a system and all of a sudden it's suddenly like all of a sudden life. I go to bed broke and I wake up rich. Somebody still has to do the work with the system. And so it's a combination of systems plus people that are operating that. Right. Five to ten dollars an hour people, so that they're doing all this work. So let's say there's 100 hours of work that needs to get done for a deal. That's a lot, right? But 90 hours could be done by somebody else at 10 bucks an hour. That's $1,000 worth of work, right? So I use the example. I'm like, you got Bill and Mary. Okay, let's say bill spends $2,000 in order to generate a $15,000 profit, all right, net profit. And Mary spends 4,000. So bill spends 2, Mary spends 4. Who has a higher ROI on money? Well, obviously Bill, he spent less. Now if Bill took 100 hours and Mary only spent 10. Right. Who has a higher return on their time? Well, Mary. Right. Mary's making $1,100 an hour, bill's making 100. All right, now if both of them, if you said, hey, each of them can work 100 hours in real estate, who makes more money? All things equal, mary can do 10 times the number of deals. And then if you took that over a year and you said, I know I'm giving a lot of data here, but if you said, hey, each of them wanted to apply 20 hours a week, 20 hours a week into real estate, all things equal. And they could do as many deals at the end of the year, bill would make 130,000. Right. Mary would make 1.3 million. So eight times. So it's very important for us business owners to realize there's a massive amount of profit to be made in real estate. But you don't, you want to leverage other people's money and other people's time. And those that get that early, they actually scale and they've got business and those that don't are constantly running on the hobbit wheel. That's what I've seen.

Gary Boomershine, Scott Tide and I are smiling ear to ear because I can't tell you how many different ways we try to preach this to our one on one coaching clients. And yet, and yet we get resistance, some type of mental resistance. Now, I don't know. Scott. Todd, what do you think are the biggest reasons that people resist us?

Well, I think like, you know, it's fine, Mark, because right now, today, right before this call, I was going through flight school material. Flight school Q&As from the building a VA team, right? And so in front of me right here, I have all of the questions and all of the resistance that people have when we talk about building a VA team. Like one of them says, for example, like, how can I possibly outsource something like that? I'm not doing myself. And my response is like, well, what aren't you doing? Because if you're doing everything that you've been told to do, you're already doing it, but you're probably doing a terrible job at it. And that's what they say is, oh yeah, I got to get better at it. The reality is that you're never going to get better at it. I mean, like, right, like, look, I'm not a graphic artist. I suck at it. I can spend 30 hours developing a logo. I can give it to Eric Peterson. He could laugh at it and say, here, just move out of my way. I got this. Five minutes.

Why?

Because he has a graphic artist mindset, right? Like, I think that's the biggest thing is that people think that you have to do it yourself first. But good CEOs, they don't do that.

Never, never. And you know, I've had the same, we've had the same thing. It's like, you know, everybody knows, everybody knows they need to do follow up, right? Follow up. When leads come in, 90% of the money is made on the sixth interaction with the seller or later. Less than 10% of any investor or agents follow up more than twice.

All right?

And even though all of us know we need to do it, yet so few people do it. Why? Because it's a lot of work. And here's the hard facts. I think the light bulb for a lot of people that we interact with@realestateinvestor.com, it's like, here's the statistic in our business, 95% of all investors are broke and out of business. That they fail in business within five years. So if anybody is on this call and they're in the business for less than five years, the statistics are very, very poor. So 90% fail within the first year, 95% will ultimately fail within five years. Why? Because they don't get these simple concepts and they get stuck on, on the left side. They run out of money, they get burnt out, and then they're sitting on the wrong side of the real estate curve when the market turns like what's happening right now, we're about to go through one of the biggest transformations in wealth ever. And a lot of people are not prepared to take advantage of that. So there's three things that I would say that are super important for people to get out of being a hustler stuck on the hobbit wheel. And number one is around leverage. So understanding that there's a return on investment on money, there's a return on investment on time, and there is what's called lost opportunity cost or opportunity cost. And you have to get these concepts and then it's how do you apply them in real estate immediately? So as an example, if you put a dollar in, you should be in this business getting somewhere between four and ten dollars out. And then the question, it's just a return on investment. And then over a period of time, on average, like if you're doing direct mail, the national average for deal closing is four months, right? Some deals will close in a month, some will be six months, but on average it's a four month cycle. And so people will try to do everything for free. And I think why do they do that? Because they've been trained, right? If you take a course and you're early getting into real estate, everybody has this, I call it the big industry lie that you can make money out of thin air, that there's no business. All businesses take money. Now, you can buy real estate without money, but you can't actually run the business without some investment of money. So you invest a little bit of money, right? Let's say $1,000 in and you make $10,000 and you can do that every four months. So really understanding that the second one is the return on investment of time, and that is that every one of us, to actually have a life, need to be making somewhere between 250 and 1,000 bucks an hour, right? So if you're doing anything that's less than that, you should be outsourcing it to somebody else and getting leverage off of somebody else's time. It's Very easy to be able to have a $10 resource doing all the work. Right. And producing massive amounts. Now the last one is this lost opportunity or opportunity cost. So let's assume, let's go back to Bill and Mary, right? Let's say Mary says, hey, I'm a business owner and I understand this concept and I'm going to invest $10,000 today. And in one week she can have the people and the systems operating and providing her deal flow. But it's a $10,000 investment. And let's say within six months she makes a half a million bucks. Right? Now Bill says, I'm going to want to learn it myself. I'm going to do it myself. So he doesn't spend the 10,000 and he doesn't have deal flow for six months. Takes him six months. So Mary spent 10,000, made a half a million. Bill spent 10,000 and made nothing. Right. So the real lost opportunity cost was almost 500,000. It cost the fact that Bill did not invest up front to solve this problem cost him a half a million bucks. And people, I don't know anybody that trains that. All big businesses understand that, right? So you need systems and you need some smart people to run them. And so you can either do it yourself. Most people fail, 95% of the people fail doing that. You can build it yourself or you can actually borrow it from somebody else and say, hey, I'm going to go find experts that actually already have this and give them some money and say, produce me the results. And I think that's the mentality a lot of businesses, that's why there are systems. That's why Silicon Valley has taken off. Companies like Google and Facebook have done so well and all the technology, right. Salesforce, because systems and applying systems and then smart people to run them is how you actually get massive competitive advantage.

Yeah. So Gary, you know, we talk, I mean, Scott and I agree with everything you're saying. So the problem that we're seeing for a lot of new people is a mental block because they have scarcity mentality. And, and they think to themselves, when I start, the cheapest person I can hire is myself. I'm capital constrained. And that's the reality. I look at the bank, I have X amount of dollars. Now Mark and Scott and Gary are telling me to take that X amount of dollars and invest it because that person can do this $10 an hour work. Well, I can do the $10 an hour work. How do you help someone bridge that gap?

Well, you know, I always, I think of it as it's a death march. Doing that is the fastest way to go broke and to never have a business. So. And people will. I call it three feet from Gold. There's a great book. It's a Napoleon Hill foundation book. In fact, I think I'm written in that book. In the end, it's. I've given out thousands of that copy. But three feet from goal, which means most people, literally three feet from gold, right, they'll start, they'll do some marketing, they'll get certain things working, and then they'll quit. They'll go after some other rabbit hole, right? They'll get an email that says, hey, you could now do this and get rich, or you can get this little fairy death system or you can hire this person. And. Right. And I think the reality is that, you know, I think of it for everybody that's listening. Imagine that you're struggling with this whole concept. Imagine if you were a business owner and you wanted to start a pizza delivery company, okay? So pizza delivery company, and you've got this building and you got all the equipment. Could you imagine that you're the person that's doing the marketing and holding the sign for your pizza delivery company to get people to come in and buy. And then you're the order taker. And then you run to the back of the room, right into the kitchen, and you start making the pizza. And then let's say you're going to go deliver this pizza, you put on your shirt, grab the box, and you get in your car and you go out and deliver the pizza. There's not a single business out there that runs that way. It's all about, right, systems and people to run those systems. And those that get it, they make massive amounts of, you know, freedom and money in this business, right. Ultimately, most of us, if you, if we want to get into the real quadrant of investing, right? But most people need the cash first, right? So it's like the fastest way is apply the proven best practice, right, of applying some money and applying some people with the systems, right. To generate the result. Because as a real estate investor and the end of the day, as a real estate investor, the money is all made talking and closing sellers and closing deals and ultimately having somebody to do that for us too, right? And so how fast can we get those pieces put in place? And it takes six months to a year. You're already going down the wrong path, right? A lot of people will say, well, then I can go hire a va. Well, the problem with the VA in The Philippines, they're great. But somebody has to hire them, somebody has to train them, which means you have to be the subject matter expert. And then the third is somebody has to manage them and keep them, you know, accountable. Right? And so that's, people forget. It's like it's a whole component. And then the last thing I'll say about a BA is a lot of people, the skillset to do marketing and sales, they're different skill sets, right? You got a technical skill set of somebody that needs to be technical to basically do data stacking and skip tracing and pulling mailing lists, pushing those over to a mailhouse or into a auto dialer for cold calling, right? That's a systems person. That's usually somebody that doesn't even need to be good at English. Right. They need to be technical. And then you need somebody that has phone skills, that's scripted, that knows how to get on the phone all day long, talk to sellers, deal with rejection, and then just push the out. So for me, I just want, I don't care how it gets done. I want to know that I can put a dollar in, right? Let's say I put a thousand bucks in and I'm going to get five seller deals pre screened, right? The appointments scheduled where I can get on the phone and talk to the seller and then I'll push some of those back to the team to follow up. And you know, it seems like a daunting task. One is you have to understand the, you have to understand the steps, right. And the systems. And then typically you go and you find the expert that's already done it, right? And that's. There's lots of different companies out there. Realestateinvestor.com we provide the systems and the people. We're an option. There's podio. We have a data stacking service called Property List Manager. There's a lot of them. But the thing is you've got to have those pieces in place and then you have to have the people below you to run those systems. And the faster that you realize I got to get experts doing it for me right now you become a real business owner, a true real estate investor, not a hustler anymore. And you know, we just had Tyler Amber, super, super cool guy. His wife was a Dallas Cowboy cheerleader. And he basically said, Gary, you know, it took me years to figure this out. He's like, I was spending $3,000 a month. I was able to throw all of that stuff away because you guys actually have it and you could do it for me. He's like, I've been doing all this stuff that you said, but it was like I was working 60 hour weeks. I was getting some deal flow, but I couldn't do all the work and then talk to the sellers and make offers. It's like one or the other. It's, you know, it is, it's a people, I think people get in this business, they're excited, but they get this misconception they have to go do it first themselves. No business operates that way in America like any real business. You got a CEO, right, that runs the business, and then you've got a team below that does the work. And you can't be the CEO and do the work. It doesn't work. $10 an hour work produces a $10 bank account.

Yeah, Gary, I mean, you've got your doppelganger and Scott, Todd, Scott, I mean, we're like laughing.

I mean, there's so many things that he said that it's like, I mean, there's so many things that he said that it's stuff that I teach in flight school. It's really kind of comical. There's some things that, you know, like, I mean, honestly, like one of the things I remember Gary saying is like, hey, listen, if you can get somebody else to do 90% of the work, that's, that's even better, right? I always say 80% done by somebody else beats 100% done by me, right? Like, it's the same lot, it's the same logic. I mean, you know, it's the $10 bank account stuff that even the numbers, like how much you need to be making per hour, like the type of work that you need to be doing. I say, like, if you're not doing thousand dollar an hour work, you're not doing it. And you know, Mark, here's, here's one of the things that I would just caution everybody on. If you're listening to this and you're really thinking, go look at any company where a new CEO comes in, right? Like, I mean, I had the ability of seeing this firsthand when I got to, when I was at Hertz. You know, here you have this rental car business, okay? And you think like, okay, well there's all these systems and all these processes and all these people. I mean, I think at the time it was like 20, 20, 30,000 people working there. It's a big company, right? Like a lot, a lot of moving pieces. And the CEO comes in and he has no experience with rental car. He didn't work at a rental car company. He has no experience with this company. It's not like he got promoted from within. He was in a completely different industry. They picked him up, they brought him in, and what he did was he came in and he learned the business, right? He didn't go do the business. He didn't go rent a car. He didn't go clean a car. He didn't do anybody's job. He. He did his own job. But what he did was he asked questions, and he learned it, okay? So that he could have a conversation with somebody. He didn't have to know every single minute detail of that job. He had to get a high level. Then if something was really bad and he really needed to dig down and fix it, well, then what he did was then he dug down, right? Like, he went and said, okay, show me what you're talking about. But to begin with, he didn't just go to everybody's job and say, oh, show me what you do here. I'm going to spend a week with you. That's impossible. And if you're going to be the CEO of your business, which is the only way to survive anything, is for you to stop doing the task work and think like the CEO, well, then you better learn that you don't need to know every single minute detail down to the penny. What you need to understand is, at a high level, what success looks like. Then go deploy that. And you know what's really cool, Mark, is that is the same formula in the same process that we teach in flight school.

Yeah, it absolutely is. How many times does Tate say, I'm an expert at hiring experts.

Right.

And it's crazy. Like, people want to ask him a tactical question. Like, Gary, I'm sure people ask you a how to tactical question, and your answer is probably like, I don't know, because I don't do it. My team does it. At some point in time, I created a system or some created system, but that's not my job anymore.

So, yeah, yeah, you know, I. People ask me, how do you train a sales guy? Like, I'm an expert. Like, if I said I'm really good, a lot of people know of me as the marketing guy. We've done over 50 million pieces of direct mail for clients because we. We do that for people and we track the results. I know that people know us as some of the highest results off of direct mail, as an example. And we've done over 3 million pieces or 3 million cold calls and screening of seller calls for Investors and agents, right? But somebody will ask me about how to train a sales guy and I'm like, I don't train them. Now I'm an expert at sales, but I don't train them. What I do is I give them a course, not even my course because I didn't want to spend the time right? So it's like, here's a course. Go unpack and watch the videos. Go out, get me some contracts. I usually, I know that like sales acquisition guys, here's the statistics. 1 in 80% of the deals come from 20% of your sales guys. So what I do is I actually hire five at a time. I hire five because I know that only one of them is going to produce. So I'll go higher. 5. I will give them the course and I'll say, go get me some contracts. And they'll say, I don't even care what the price is, go get them in contract. I just want to see if you can get the seller to sign on the line that is dotted right. And then I can go back and renegotiate those deals because I'm training them. But I'll never, I'm looking for somebody else, a best practice, right. That I can apply. If I'm looking for marketing and cold calling, what I do is I just go find the team. Like I built a phone team, huge phone team right now that are experts at talking to sellers. I'll give everybody like a really good gem here. That's something that we've learned. I went out and found the best phone team in the real estate niche actually for agents, a third party called Thousand calls a day. And I basically contacted their CEO and, and said, hey, I want to build a large phone team. We will probably be your largest client and I don't want to do it myself. And so they were experts and so they came in and we joint ventured together to build that team. So I've got over 45 people that actually are full time with people that are quality assurance that are listening to all those calls and every day interacting with them. So you want to use an expert and not do it yourself. Right. And the other piece is that if I can hire somebody, let's say I'm going to do some work. Let's say for me I want to make a million dollars a year actually, let's say I want to make a half a million a year net, I'll value my time and actually I'll give some tools, some free tools to your listeners and I'll give those to you to put in the show notes here. That allows you to figure out what your time is worth, the value of return on investment of hiring somebody. But you want to make 500 a year. And let's say you want to work 40 hours a week, okay? Your time is worth 250 bucks an hour. You run the math. You divide 500,000 divided by 40 hours a week for a year. That's $250 an hour. And let's say I'm doing phone work, the dialing for dollars, right? All day long talking to sellers, dialing, they hang up on me. I hit a fax number, a busy signal, whatever. I want somebody to do that. Now let's say I'm spending 12 of my 40 hours a week doing that. If I could hire somebody full time at 10 bucks an hour, okay, 10 bucks an hour instead of me doing it 12 hours. And let's say now I'm going to manage them two hours a week. I just made over $120,000 of profit hiring a full time employee. It's a 600% return on their time, right? And what's more important, I gained 500 hours of my own time back a year. That's 12 weeks. 12 weeks of time and making money on hiring somebody full time. So you really understanding the value, we do that for our clients. One of the first thing that happens when people come to realestateinvestor.com we help set their head, right? Because most of this, that most expensive real estate in the world is the six inches between our ears, right? So we really help people with a mindset of like, we want to understand your numbers so you really have clarity in terms of what your financial goal is and where you're going to spend the time. And then we'll actually, most likely we'll do it for them. We'll put in the systems, we'll pull the data, we'll do the cold calling, we'll do the marketing or whatever pieces they want. Some people have their own team. They'll just use our systems to do it. But that's really, really, really important. And the reason I say that, imagine, Scott, you're an expert aviation, you know, teaching people how to fly. Imagine anybody listening to this. Imagine getting into a plane and going up in the cockpit of a plane blindfolded, right? Blindfolded, with no instrument panels and trying. Your chances of survival in a plane is zero, right? It's the same thing with a business, right? You cannot run this business blindfolded without knowing your instrument panels. And that's why people fail. And when people get that, now you actually have a spark plug to start making real money and getting into the right quadrant and having some freedom in this business. And I'll share one other nugget, and that is this scarcity thing. The people that have scarcity in this business are also destined for failure. And I've coached thousands of people and this is a very common, common thing. A scarcity person is somebody that like doesn't want to hire anybody because they're worried about competitors, right? In this business, there's deal opportunity everywhere. That's why we love real estate. You go and you look around and it's like the entire country, entire world right now is on sale, right? So we have more opportunity. So I come in. When I actually hire people, I don't even call them employees. So if I hire a salesperson, they are a profit sharing partner and everybody should write that down. They're a profit sharing partner, they're going to share in the profits. And ultimately, if they're successful, right, one out of the five or, you know, whoever, they can actually ultimately take over that business unit for me because as a business owner, I want somebody else to run that completely and I want to take net profits. That's how I become a true passive investor. Right. And I just, you know, now I have somebody else running it. So I tell everybody, hey, I want somebody, hopefully you to come in here, ultimately make a lot of money, profit sharing partner, and then ultimately take over this business unit. Why? Because I'm going to go into another market. Oh, I'm going to go buy apartments now. Oh, I'm going to actually go lend my money and become the bank, which is ultimately what we should all be thinking. And so the scarcity versus abundance is huge. You want to have an abundance mentality. You want to think as a CEO, right? And not as a, as an employee of your business. Because if you're an employee of your business, you're going to really hate it because now you hate the boss even more, which is you. And that's the problem with the mindset issue.

I love that line. You're going to hate the boss even more, which is you, Scott, you say a lot.

And by the way, I was that person. So I'm saying this through experience. So 2004, I have want to give everybody, you can put this in the show notes, but we created, there's a Facebook public page. I have a business vision. Let me just give the site, it's real estate investor Beacon Real Estate investor Beacon. It's a public group. My business partner and I do. It's all content. And I put a How to build a business that works for you. It's building a business that works for you. And I share my journey from 2004 and through two cycles of how I literally did not get this right. And it wasn't until 2013 that the light bulb came on and I said, okay, how do I actually really be the CEO? Because it's really easy to remanifest. Most of us came out of being a job, an employee. So making the transformation is a commitment. It's really, you have to be committed to doing this. And so for me, I'm like, I want the freedom. I want to basically learn how to be a true CEO of a business. And I share that. It's an hour presentation. I did it on stage in front of 400 people and people said it was like the best thing over the three days that they saw. Because it's so easy to build, become a slave to our business. And we don't want to have a master. Right. We don't want to master over us. And so it's really the mindset, understanding some basic principles of leverage and then systems and resources and how to do it really, really fast. Because everybody on this call could have all their marketing and sales issues literally solved and systems issues solved within a week. It's not a year process.

All right, awesome. Well, I just joined real estate investor Beacon. Awesome.

I have a 21 year old kid who he's closed like eight deals with us. We're interviewing him this afternoon. By the time this goes live, it'll probably be a little, possibly a little delayed, but his name is. Oh goodness. It's actually. I'll post this, I'll give it to you guys as well. But he's a 21 year old kid up in Washington. He really got the concept and he didn't know what he didn't know. So he basically did exactly what we told him to do. And he's crushing it. And he's really focused on just interacting with sellers. He's letting somebody else do all the work, the mining and the refining, the pickaxing of talking to sellers and all the hard work so that he's got all of his time focused on closing deals and loving it. And I love seeing 21 year old kids do it.

I love it. I think that's a huge advantage, what you said, because you start developing bad habits as you go get older, you have a couple jobs, whatever. It is then you're like, okay, I'm making this transition and you've got this sort of employee mindset and it's hard to jump out of it. But if you're 21 and you haven't developed those bad habits, you just do it the experts say to do. You're not in your own way, you're not in your own head, you're not second guessing anything. You're just, oh, here's the recipe. I'll make myself a beautiful cake. And success is inevitable. So we're at that point now where we're going to ask you for your tip of the week. A website, a resource, a book, something else actionable for the art of passive income listeners to go improve their businesses, improve their lives. Gary boomershine this is one of my favorite podcasts ever.

What do you got that's so awesome? Well, I'll say something that, that I'll give three. This is what's changed my life. I have a CEO coach in anything, I actually have four of them. But in anything that I want to excel at, I get a coach and I call him a CEO coach. It's an accountability coach. So I have one. I actually have three for this business that are coaching me, including a Traction EOS coach. And I'll share something around that in a second. The second thing is masterminds. So being around like minded, sharp and sharper than me people has been a life changer. And then the third is I've implemented as a business owner, I've implemented the Traction by Gino Wickman model. There's a book called Traction. You guys have probably talked about it before. Super popular in our niche. But they have an operating model called Eos and we follow it to a T. And it's been a life changer. So those are three things. The other thing I do that's been a life changer is I do habit stacking. Habit stacking. So I create new habits and then I stack them on top of each other. I learned that from a really successful real estate agent friend of mine from a mastermind that I do down in Mexico every year. But the one habit that I do, I apply what I call my 5, 10, 3 rule. Okay. I used to have massive issues with time. Most entrepreneurs, visionary types, most of us are like that are really unstructured and struggle with time blocking and things. So a CEO coach of mine, Willie Hooks, said, hey, Steve Jobs and Jack Welch and Warren Buffett and Charlie Munger from Warren Buffett, Berkshire Hathaway, we all have the same 24 hour day. How do those guys get done what they do? Yet? We struggle with time. And he said, all you have to do, Gary, is wake up earlier, push your day out. So I wake up at five, push my day out until 10. All right? And then the three is, I spend three hours as a CEO in my business. And by the way, I have three businesses. So I spread my three hours into those three businesses. Okay? So I wake up at five. I start my business day at 10. I don't look at social media. I don't look at Facebook. I journal. I read scripture. I make coffee and clean the dishes in the kitchen to make my wife happy. And then I go exercise. And during those five hours of time, now I'm thinking of my one thing. What is my one thing that I'm going to do today? To move the marker. And that's what I do first. And to move the marker in the business of what am I going to do in three hours? Typically, I can't do any work in three hours. So I have to. I have to assign what I want to other people to get done for me. And so that's how my life works. And I was not a good delegator or manager. This is all learned. Great CEOs are not born. Great salespeople are not born. They're made by following practices. And so that is something that's been a life changer for me. 5, 10, 3. And then habit stacking. Whatever new thing I want, I get it perfected. It only takes about three to four weeks of following a new habit. You want to lose weight, do it for three weeks. You'll have a new habit. Then I stack another one on top of it until I get the desired results that I want.

I love it. I love it. Scott Todd, what's your tip of the week?

You know, Mark, one of the things that drives me crazy when people start their land investors. Oh, by the way, before I go to my tip of the week, I have to clarify. Gary said I was like a master flight instructor.

I'm not.

I teach flight school for land investing. I'm not a flight instructor.

Oh, okay.

I do like to fly, but, like, it's for land investing. Learn how to launch your business with.

Flight school, which, by the way, Scott Todd, let's just do our plug now, because today's podcast is sponsored by flight school. Learn how the next 16 weeks can literally transform your life. Go up that mountain of land investing quickly, safely, efficiently with Scott Todd as your Sherpa. Smart. Cut it. Schedule A call. Learn more. Go to landgeek.com training all right, so.

Mark, one of the things that drives me crazy is. Well, there's a lot of things that drive me crazy but one of them is when people are starting. You're like okay, let's just get going. And people are like, oh wait a minute, wait a minute, I don't have a name yet. Name, Forget the name. Use your own name. You were given a name at Bert. Just use that. But you know, I get it. People like to have names of things or logos. Oh geez. Okay, but look, check this out. Make it simple. Give. Just, just let the world bring it to you. And check out my tip of the week. It's. It's a long one. It's find hyphen your next hyphen startups name. Now sh. I know that the mad. The magicians that work on the show notes will just make that. Whatever it's in the notes here. But go look at that because look at this. I just did it. Mark. I like my next startup is going to be simple. It's going to be ferb. F U R B. What is that? I don't know.

I'm finding mine right now. Mine is retiator. There you go.

Just, no one knows what that means because there are words that don't exist. But you know what, just use it anyway and just start mailing and marketing.

Okay, fantastic. Well, this has been great. But. And you guys have been great, have had great tips but literally they're not as good as my tip of the week. No offense guys because my tip of the week is. Can literally make you millions of dollars over the next of your lifetime. But again, it's the leverage points. It's the leverage points. You can always make more money. You can't get more time. Know what your time is worth. Invest in yourself. Don't be one of those people that go into this blind and think you're going to. You're going to work your way, you're going to hustle your way into success. Odds are you just can't do it. You have to leverage yourself. Luckily we've got Gary Boomershine that can help you do that. So go to realestateinvestor.com and learn more. Realestate investor.com I'll have a link to the show notes. Gary Boomershine. Are we good?

Awesome, man. Great. Great hanging out with you fellas and all the loyal listeners I love. I've been listening to you guys for a while, so it's one of my favorite podcasts in the real estate niche.

Thank you. Thank you. I'm flattered. Thank you, Scott. Todd, are we good?

We're good, Mark.

All right. I do want to thank the listeners and just remind them the only way, the only way we're gonna get the quality of guests like Gary Boomershine is if you do us three little favors. You gotta subscribe, you gotta rate, you gotta review the podcast. Send us a screenshot of that review to support@thelandgeek.com we're going to send you for free the latest wholetailing course, how to Double your money 30 days or less, which is normally 97 bucks. Get it for free. Do us the favor you know you want to do, it makes you feel good, so please do that. And, guys, let's do this together. Gary. One, two, three.

Let freedom ring.

There you go. All right, thanks, everybody.