Ever thought you can learn the art of wholesaling deals while enjoying a Costco meal. Welcome to our unique Lunch and Learn where we blend practical real estate wisdom with the casual charm of a nice Costco lunch. I’m here with Cody ha fine and today we’re spicing up your wholesaling strategies as much as we spice up our meals.
What’s up everybody, I’m Nathan Payne, and this is our special monthly luncheon, learn grab your lunch and get comfortable because today we’re going to be diving into some enriching real estate strategies. Today’s menu features insider wholesaling tactics that you won’t hear anywhere else. Cody ha fine secret ingredients for successful deals a live Q&A session where we answer your burning questions. Before we start, do me a favor and drop in the comments what you’re having for lunch and where you’re watching us from. Let’s make this a truly interactive lunch and learn. So everybody, let’s dive right in. And let’s see what Cody Hoffman has to say and why he is the goat. Let’s get Cody up here, buddy. Let’s give him a round of applause as he makes his way up.
Let me just get a feel for it. So how many of Ghana deal? Okay, next bag. I like that something different that I may want to give you a different approach? I think sometimes we look at what’s the killer marketing piece? Or what’s the killer negotiating strategy? How do I find this off market property? How do I get to the seller as quick as possible that’s motivated and that is going to turn into a contract. And I will tell you there’s so much good content, Nathan puts out a ton of great content, YouTube puts out a lot of great content now there’s gonna be some that just mixed mixed opinions right of how they attack it.
I will tell you don’t focus so wide at the beginning. So just to hit this before I go on the message, don’t go, why don’t go like I need 10 marketing channels at some point, you’re gonna want to diversify. So you can get that roller coaster out of the system where most people are like I did a deal this month. And this month, I didn’t usually I can break that down. So I’m the co founder of Joe homebuyer, we now have about 85 franchise owners across the nation. So we’re really tapping into real time what’s going on across the whole nation, we know exactly what’s going on real time.
That’s another reason why we love franchising models so much is because we’re tapped into the same the same database. And so as I’m seeing homes go under contract nationwide from other franchise owners, I’m really able to tap in and say, Okay, what’s the marketing piece? What’s the messaging? What is the age of the homeowner? What’s the age of the home? What is the motivating factor behind it? And it helps us dial in better on what lists should we pull? What marketing piece should we do? And so we’re always staying ahead of our competition, just already from just data alone, how many felt the shift that’s been in the game for a while felt the shift in the buyers market, cash buyers that are on your list and all sudden there’s like there’s the fight and flight. And then the third F is freeze, right? And they froze, it didn’t mean they didn’t have money.
It just meant do I want to deploy my money with this circus that’s going on in our nation with inflation and interest rates and everything else, right. So we had to pivot now we knew about this in February of 22. We have a gentleman that sits on the board of Joe homebuyer that is an extremist when it comes to reading the economy. So in February of 22, he comes to and says there’s going to be a drastic shift q4 in 22, where the buyers are going to shut off like it’s going to be cold turkey overnight. And it did it was fourth quarter it came we were already making the pivot though and testing what would be the new model in February prior to that fourth quarter. So we already had practiced and learned everything we need to do so that when then fourth q4 hit, we were ready.
We’re still moving deals when everyone’s like, Oh, man, I mean, there’s a lot of the lot of the competition got knocked out. This is a good thing. So if you’re like, oh, man, is this good time to get in? Heck, yes, it is. Competition is low right now. And if they’re there, they’re they’re very part time. And part time in real estate gives you part time results, I want you to write that down. Or at least put a brain tattoo on your part time effort gives you part time results. If you’re not into this full time, it will eat you up and spit you out. Because there’s so many people that are dedicated to do this full time that just have the the competitive advantage.
So that’s one thing I’ll teach you, let me teach you a couple books that will help you because I’m gonna go more on this mindset of what’s the difference between those that are winning and those that are just kind of, you know, floating through, maybe they’re burning the candle at every end. So it’s crazy that I’m going to share with you three books like what does this have to do with real estate? Let me start with this quote.
And that is Jim Rohn. He says, rarely does a man or woman rarely doesn’t matter woman’s income exceed their level of personal development. So let’s think about that. Let’s break that down for just a second. What does it mean? Rarely does a man’s income or woman’s income exceed their level personal development, meaning if we want to be millionaires, you can go through it like most people do in life and just go chase the million dollars and that’s going to be a long race, a race that never ends.
If you can think about just the thought of even jogging a marathon just destroys me. I’m like, I don’t know anyone that loves marathons. Now you marathon runners, you can love it for me. It’s not me. I’m like I can’t, I can’t even fathom wanting to run whatever it is 2425 miles I just couldn’t fathom that. Well think of now after the 24 miles you’re still going for ever. That’s this chase of this million dollars where you can just become someone better each and every day if you will work on yourself each and every day if you will take to heart personal development and become someone better each and every day.
A Nathan you pound this I love this there’s not many people that pound this money follows you the byproduct is we’re always looking for a player’s How many have heard you’ve got to hire a players we hear this all the time this is like this is like the standard you hire a players if you’re a see leader Good luck keeping them a player A players are looking for a leaders. And so that’s why we have to become better each and every day so that we’re attracting a talent as well hope this is all adding up.
This is the truth in life. When I was a sea leader, I attracted see talent, and then I’d have to let them go because I’m like, man, they’re just not closing until one day I look in the mirror and realize no, it’s just a mere product of who I am. That closer was just me. I attracted someone who I was at the time. So I had to get better. I had to work on myself and commit to personal development. So here’s three books that will help you that are on my top five. So there’s other books out there but atomic habits by James clear Tomic habits is amazing.
This is how do we continually stack wins with these daily habits and they don’t need to be big. We learned from Darren Hardy and the compound effect. It’s just small, but simple, consistent action that delivers big results. It’s not one big thing. It’s not two big things. It’s many little things leading up to big results. So you’d have to do big things, the rhythm of life, Matthew Kelly, this one, what’s even more profound about this, this author was 24 years old when he wrote this book, and you’re going to be blown away how much this guy knows that 24 years old, like I thought this was a 67 year old reading or writing this book, 24 years old.
So keep that in mind as you read it, you’ll be like, how does guy even have this kind of knowledge. The third one is the 5am Club. And that’s Robin Sharma. He’s actually a personal friend and mentor of mine, he has sold more than 20 million copies of just that book alone, the person that’s willing to win their morning will win their day. This is huge. But a good morning routine starts with a good evening routine. So if you’re a midnight owl, you’re probably not going to have a great morning routine. And so the people like well, that’s just not me, just check your habits.
What are your habits doing are your habits late night, okay? It’s the habits that you’re doing that make you not a morning person, you can be a morning person, it doesn’t mean you have to get up at 5am. That’s what the books obviously about right. But his process for winning the morning is only an hour long. He breaks it up in three stages of 2020 2020. And what you do during those 20 minutes, so the 5am club so if you’re waking up at seven, wake up at six, just wake up an hour earlier when your morning when your day that’s a promise I would not be who I am today I would not have been able to do the businesses that I’m involved in that I own.
There’s no way that we’d have over 80 franchises in Joe homebuyer. We own a digital marketing company. This year alone I have actually partnered with Chris Chris, a partner of mine he runs all the rentals. So how many? You’d know the numbers specific we’re closing on five more next week. What are we at year to date from January one two today in acquisition for rentals for me and Mark personally 41 doors so I’m going to add 41 doors to my portfolio this year alone me and Mark we partner on all the businesses that we own we actually grow this empire together before anyone doors.
Why do we do that? I think the trick is most people look at cashflow. Like if you can get $300 A door cash flow comes 41 Man that’s cool. Every single month that checks coming in, they’re paying your rent and this is this is or you’re paying your mortgage, but then I don’t do for the cash flow. That’s just the gravy. That’s like Part B when you have working capital, where you have your businesses paying you X amount of dollars a year, this is how you preserve your wealth.
So last year I paid $0 in taxes this year again, I’ll pay $0 in taxes. It’s the greatest thing in the world. So it’s better than cash flow. If you times what 41 Times 300 A door What is that for quick math? 12,000 Okay, so 12,000 times 12 You’re at 124 144 144 I max that Pat 144 Okay, that’s awesome. But what if your tax bill is 250 350 400,000 a year and you pay $0 in taxes that gets really attractive really quick. So rentals have an awesome awesome byproduct other than just cash flow cash flow is fantastic but preserving your wealth and while you’re working income even better, so really fun stuff.
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