How I went from being completely broke to a real estate baller
I just wanted to talk to you about winning the game of real estate, and how important it is for you to take massive action. Do whatever it takes to understand and learn this business.
As many of you know, 14 years ago when I decided to jump into real estate investing, it was the best decision of my life. I look back now and I'm so thankful and grateful that I had the courage to push past that learning phase and stick to it. I decided to get in the game because it changed my life. As I am writing this, I sitting outside by my house and I keep looking at it thinking, "Wow, I cannot believe I earned that house."
First off, I didn't grow up with any money. I didn't have a silver spoon in my mouth. My parents were very hard workers, they instilled a lot of great qualities and traits inside of me; great work ethic, integrity, all that stuff. I love my parents and I wouldn't change a single thing that ever happened to me in my upbringing. It made me into the person I am, it helped me develop into who I am today and I'm thankful that I had both my parents. Not everybody has both of their parents around. Parents get divorce or die. I'm just grateful that they were around. The truth of the matter is, we didn't have a lot of money and I didn't have a great relationship with money. I didn't even understand wealth creation. No one ever taught me what an income statement was, or a what liabilities were, assets and a balance sheet. I didn't understand how to build culture, build a team or cash flow management. I didn't understand real estate, real estate investing, stock invest -- like nothing.
None of that was part of our conversation growing up. When I first heard about real estate investing, I had all these preconceived notions.This is the reason I'm writing about this -- I want to encourage you to keep moving forward and learn more about real estate investing. Whether you're watching this on YouTube, Facebook or binge watching this content, you will figure it out. I thought that you had to have a lot of money to be a real estate investor, and it's just not the truth. There's a lot of creative ways to get in this business. In fact, there's two types of real estate investing.
There's active real estate investing, which is like mixing, flipping and wholesaling houses. Active real estate requires you to actively participate in the business on a daily basis.If you really want to make money. I've done over a thousand transactions -- I'm a deal junkie. I love active real estate investing. In the beginning of my career, the only one I'd heard of was the passive real estate investing. That's being a landlord, and that's what I've always heard of when I was growing up."Hey, you save up your money, you by a house, or a duplex, or a four-plex, or a piece of real estate and you rent it out and over time. You get about 10, 20 even 30 years of your tenants to pay your mortgage." That was a key word -- mortgage. Meaning, I had to have good credit, go to the bank and get them to loan my money. Basically, they (tenants) pay down your mortgage and eventually you own the house, you get cash flow and over time you build wealth.
So, I always thought to myself, "Man, I'd love to do that someday. I just can't do that now, I don't have any money." I was just getting started out in life and in business. In fact, I didn't have any money, I had negative money. I had the credit card debt money. I had the "Mrs. Teller at the bank, please I'll do anything, I know it over drafted, but if there's any way you can waive that fee money, we can work something out." I've got to live with my girlfriend because I can't afford rent money. That's where I was at. It's not like I could go to my parents and ask them for money, they didn't have any extra to give me, and I probably have done that a few times, and what little they could give me they did, and blew through it.
It was a challenge in the beginning because I didn't understand. This is a key concept. There are creative ways to get into this business where you can use other people's money. To be able to get into the active side of real estate investing, I can create the money for the passive real estate investing. There are creative ways to raise the money and use other people's money to get into the passive real estate investing. Ultimately, your goal is to get out of the business as fast as possible.
Let me explain. Yes, it's fun to do deals, it's a tremendous amount of fun. When I teach you how quick flip works, I will teach you a variety of how to's:
1. Market leads
2. Where to get leads from
3. How to talk to the leads
5. How to find those hidden profit centers
6. Structure deals
7. Find buyers
8. Play matchmaker
It's so much fun to make your mind think about the numerous ways that it can create money, right?
I actually have a deal closing. It's a quick flip deal where I'm going to make $10,000 and I'm working with one of my proteges, he actually brought the buyer. I taught this guy how to do the business, and he's very successful now. I started working with him when he was 17 years old, now he's 22 or 23, and he's doing way more deals per month than I ever did. He's doing like 60, 70 deals a month, built a big business, and I called him up and I said, "Hey, I got this deal. Do you want to partner up on it and see if you can bring a buyer to the table?" He did, he's making $5,000 and I am making $10,000. I don't have any money in the deal, just some time. I know how to source the deals, I know how to structure them, I know how to negotiate them, I know how to control them, and then he brought a cash buyer to the table.
There's all these creative ways that I can teach you on how to quick flip real estate. How to renovate real estate using other people's money without even lifting a hammer. The ultimate goal is to get enough money so that way you can own real estate and build wealth. That's the ultimate end result is have consistent cash flow coming into your business where you could build wealth and fire yourself from real estate investing. One day I want you to wake up and say to yourself, "Man, I'm done. I don't have to work. I don't have to sit in traffic. I don't have to listen to somebody else tell me what to do, and what to dress like, and how much I'm worth." You take complete control, become the owner of the game, referee, rule maker and the player. That would be pretty cool, right?
That's why you want to follow me on on Instagram, YouTube and Facebook. You want to follow guys like me. That understand and have "gamified" the real estate game. That know how to create wealth, quick flip, renovate, fix, flip, create efficiencies, source the deals, that are great rental properties and start to build long-term wealth.
I want to encourage you to take massive action and go through the learning phase, and push through it. There's a lot of noise out there, there's a lot of bozos, there's a lot of so called gurus that want to sell you something. I have products and courses that we sell. I'm not saying selling education is bad, I think that there's some good educators out there, but there's also a lot of dummies that just try to take advantage of people. When you find somebody that you connect with, that has good quality training, education, support and created a community. Get plugged into that.
Maybe you didn't grow up with money like me. I would never be here if I didn't step up and take massive action that day.
There's a lot of relationships that need to be built. A lot of seeds that need to be planted. This business is a relationship business, and the more you can get plugged into a community of like-minded entrepreneurs -- the more you eliminate the negativity in your life. Just know, that it's not going to happen to you. Nobody's going to hand it to you, you have to go out and get it yourself.
No matter where you're at in your journey, I highly encourage you to step up and get involved, because we would love to get to know you and support you along the way. That's all I got.
For now, until next time, I'm Cody Sperber, the Clever Investor, signing off for now. Take care, come your hair, Sperber out.
P.S. Don't forget to download my free eBook. There's a ton of information in there that's perfect for beginners and even for people experienced in the field already.