Foreign.

You're listening to the Master Passive Income podcast network.

Welcome to the Master Passive Income show.

My name is Dustin Heiner, and I'm here to help you learn how to.

Quit that job, that just over broke job by investing in real estate so.

You never, ever have to work a job again.

Today I'm super pumped to bring on.

A student of mine who has actually.

Went from zero properties to nine units in 12 months.

It's been phenomenal.

See him be successful and he's buying two properties at the same time.

It is awesome.

You can do it too.

All right, let's start the show.

Welcome to the Master Passive Income podcast where we talk about investing in real estate with a special focus on making enough money so you can quit your job and live the dream life.

And now here is your host, Dustin Heiner.

What's up?

What's up?

Super blessed as always to have you here with me on the show.

Now, I love that so many people are investing in real estate.

And I got to share with you two things.

Number one, how I actually have my daughter, my daughter, 16 years old.

I have five kids now.

Very blessed to have five.

Five kids.

16, 15, 13 and 12.

And then a one year old now.

Yes, Very blessed to get back into the kids stage.

You know, where they're little kids, you get experience everything all over again.

So honestly, I think children are a blessing from the Lord.

Very, very blessed to have that fifth kid now.

My 16 year old, my daughter, who's now 16, back when she was 10, she told me, daddy, I want to buy real estate just like you do.

All the money that I'm saving, all the money.

I don't want to use it to buy a car or something like most people would do.

I want to buy real estate.

That then that makes me money so that I could buy the car with that money.

I said, yeah, that is your chip.

Off the old blog.

That's so awesome.

And now all of my kids have that goal by the time they're 16.

So my daughter's 16 and she bought her first property.

My third.

My third.

He is saying, dad, I'm 14 now.

I think it's 14.

Yeah, just turned 14.

He said, dad, by the time I'm 15, I want to buy my first house because I want to beat Ellie.

And I was like, okay, let's.

Let's work at it.

So it is great that my daughter is now learning.

Actually, all my kids, I'm teaching them to invest in real estate.

They edit the podcast too.

Like they take turns.

They have the entire month that they edit the entire podcast and they get paid for that and the next kid takes the next month and I'm teaching them how to do all these things and invest in real estate.

But also the blessing 30 plus homes that I actually own myself, I'm going to be giving these to my kids in generational wealth and that's what I want to see you, I want to help you, number one, to successfully invest in real estate.

I want you to become financially independent so you have more time to play with your kids, do whatever you want, travel the world, take up a hobby.

At the same time, I would love to see you pass on your properties to your kids and be able to teach your kids the exact same thing that you are learning so that they could do the same thing.

In fact, my students, when they join the Wealth Builders membership that we have, the MPI tribe and I'm coaching, we have Charles Rose Jr.

William Palmer, Jeremy Pusey, you have other coaches that we get on group coaching calls, they do one on one coaching.

Well, all of us, we love having generational wealth ourselves.

And so anybody that joins in, if they do the one on one coaching or they do the membership, their entire family gets access to everything that they that we're doing.

So if you want your kids, if you join the membership and you come be a part of everything that we're doing, bring your kids on, like have them learn, give them your login to learn everything.

In the courses that I've created, I'm now creating another course.

It's a subject to course where we're going to be looking at how to get creative financing, private money, lenders, seller financing, lease options and even subject to where you take over the mortgage.

This is more things that I'm creating but I want you to be able to use that for your kids too.

So when you join or if you've already joined, definitely give it to your kids as well.

But when you join, let's say you join the one on one coaching, you get your one on one coach, you get all the course, entire course permanent and you can give it to your kids, give them access to it so that they can grow.

I'm blessed that now I don't have to worry about homes for myself.

Like do I need to buy more properties?

In fact I get the question, well, how many properties is enough?

I said, well I have plenty of properties, properties now, but I keep buying because I'm now buying for my kids.

I have plenty of money coming in from all my businesses and properties that Now I'm buying more properties so that actually no, every property that I buy now is going for them.

Now obviously they're using their money, they're saving their money, I'm coaching them, they're doing all that stuff because I want them to be successful.

But now I'm just buying more and more properties for them.

Now here's the second thing I want to share with you.

So today I'm launching for you and I talked about this last week.

I'm going to be putting on a retreat, a Mastermind retreat and Master passive income Mastermind retreat.

It's going to be two days, two and a half days with me, Charles Rhodes Jr.

And a bunch of other amazing real estate investors.

There's only 10 spots available and I'll tell you this, I don't do one on one coaching anymore because I just don't have the time to do it.

If you go to masterpassiveincome.com forward/mastermind, you'll see our retreat that we're going to be having, it's a mastermind summit that we're going to be putting on two and a half days.

And this is two and a half days.

I think we're actually only having 10 spots left.

We only have, I think like 15 spots total.

We have 10 spots left.

And this is going to be one on one with me.

Well, necessarily 15 on one, but you're going to be two days with, with me masterminding, helping you to get over your hurdles to get properties to grow.

And I kid you not, there is no amazing better thing that you can do for your investing, for your financial future than to get in the right room with other amazing people doing what you're doing.

In fact, this next week, when you're listening to this, right, you know, as soon as you listen to this, I'm going to be in Cancun.

So Cancun, I have a mastermind that I'm a part of.

I paid $50,000 to be a part of this mastermind for the opportunity to, to then pay.

I think I'm paying like ten grand to come to Cancun for a mastermind because I see the value of being around the people who are doing what I want to do, experts that are doing amazing things in online business.

I'm like, well, I got to be around them because they're doing amazing things.

So I'm actually living proof that a mastermind, getting in the right room, getting around the right people is absolutely what you need to do.

And that's going to help catapult you.

In fact, in 2017, started Master Passive Income.

By 2019, I was pretty close to quitting Master Passive Income.

But I had a mastermind that helped me push through it.

Now look at what we have.

We have online software, a software company that we're building.

We have live in person events, we have masterminds.

We've coached thousands of people to invest in real estate.

And today I'm bringing on a fantastic student who is just destroying it or crushing.

He's doing so well in his investing.

But you also you.

I'm talking to you.

You need to come and hang out with me at my Mastermind.

Two and a half days with me and a handful of other people where we're all going to be masterminding.

We're going to have breakfast, lunch and dinner together.

It's going to be amazing.

In downtown Denver in the middle of September.

I believe it's the 19th through the 22nd, but check the link on the description and go there and sign up.

You need to be at this mastermind with me.

It's going to be absolutely amazing.

But now I want to share with you one of my students and who.

Has zero properties to nine units in 12 months.

It's been phenomenal.

See him be successful.

And he's buying two properties at the same time.

And he is coming to the Real Estate wealth builders Conference in May 2023.

He'll be coming into town to hang out with all of us, but he's going to share with us how he became a successful real estate investor and how you can too.

All right, here is one of my.

Students, Kenny Koblenz, on to share with.

You how you can become a successful real estate investor just like he is.

Here we go.

Kenny, thank you so much for being here with me.

Hey, thanks so much for having me.

So it's just a privilege to be on here with you, Dustin.

This is exciting because I've been watching everything that you've been doing.

You know, you post inside of our group things that you've been doing, like, hey, I'm closing on this property or this is happening and that's happening.

It's just been really, really exciting seeing all this come to fruition and.

But before we get into like the nuts and bolts, because we definitely want to talk about the types of properties and all that sort of stuff.

But what got you really started to invest and have the desire to invest in real estate.

Okay.

Yeah.

So I had a little bit of extra money lying around and I was looking for something to invest.

And so I wanted something tangible, something that I can, you know, have own, possess and different things like that.

And I was reflecting back, and it all started back in June of 21.

Met with some guy friends down in South Carolina and they, you know, told me, hey, all you need to do is listen to biggerpockets.

I was like, never heard of them before and, and stuff like that.

And so then I listened a little bit, but I still remember I was on my lawnmower in my backyard and stumbled upon your, your podcast.

And I was like, dude, this is everything that is in my mind.

And you're putting it out in fruition or you're, you're putting, putting a business plan to it.

And so I literally just, you know, as I mowed the backyard every time I popped your podcast on and literally started kind of from ground one.

And I pretty much listened to every single podcast, kind of educating myself.

And, you know, my wife, you know, obviously wasn't on board, and so I knew that I had to gradually, you know, encourage her in the direction that I'm going.

And so I was like, I really, you know, I really like this guy.

Like, I, I like his, his, his attitude and just his approach to everything.

It's.

It's not a get rich quick scheme, but, you know, so that was really just kind of the, you know, it clicked with me.

It made sense in how you're.

You're approaching business and long.

I'll back up a little bit.

Back in 2017, we bought a property that was kind of out of our budget, but the only reason I purchased it was because I seen the little 30 by 120 shop that was detached to it, and I was like, we can make money from that.

And so back in 17, you know, we were working with some students in the area, and one of the students just was in a bad situation and needed to move out.

And so we basically remodeled a section and had her move in, you know, a month after we purchased the property.

But then after hearing your story and kind of your business plan made everything official.

So that was, you know, that all started back in June and 21.

And by August, I had set up my LLC after listening to all your.

Your podcasts and signed up for the, the coaching and the classes and was kind of on my way.

So, yeah, so that's kind of the.

The basis the, the beginning of my story.

So.

I love it, man.

And it's, it's actually fun too, because I've had lots of students that come into either the membership or do the one on one coaching and they come from the podcast and they, they listen to it.

And the reason why I started it was to just share with people that regular, everyday people like you and me can invest in real estate.

Like there is nothing, nothing like crazy about it.

We can do it.

And so I'm really, really glad that, you know, it's really helped you.

But then at the same time you have taking action, that's, that's a big thing.

A lot of people, they get stuck in analysis paralysis.

They start hemming and hawing and like, oh, what about the market?

If it does this, that or the other.

But what it really comes down to is we're investors, we make money if the market goes up, down or sideways.

So I am so excited to see all that you've been doing.

So walk through just an overview of your inventory, like, because, you know, we talk about building the business first.

What is your inventory?

What do you have as your portfolio?

Okay.

Okay.

So the, that, that barn that I told you about before, so I, I incorporated, we remodeled, did some additional remodeling to that back in 2020.

And so we have two rental units in that, that building right now.

So we have a short term rental and Airbnb that's been doing really well and then a long term tenant who's been in there for a year and a half now.

So those, those are the first two that I kind of brought into the my llc.

And then starting in January, I purchased my first house.

So still remember it, you know, it kind of.

Actually this is a fascinating story as well because, you know, I never heard of wholesalers, you know, until your show.

And so I was like, dude, I want to find out what a wholesaler is.

And so I did some investigation and found some contacts and just, you know, wasn't ready to buy yet, but wanted to just kind of start, like you said, start that ball rolling because I never know when I'm going to be ready to, you know, to pull the trigger.

And the first property that I got was a property that I was like, I knew the area and I was like, you got to be kidding me.

And so I was like, I talked to my wife and by this time I had kind of, you know, gradually encouraged her and she was kind of on board.

She was like, okay, yeah, I think, you know, if you go, go ahead with this, you know, if you, you know, go, go slowly, I think, you know, she's, she's on board.

And so I reached out to, to the guy and said, hey, I am interested.

And at that time, he said, I'm sorry, some other wholesaler got it, you know, because they were outbid or something like that.

So I was like, okay, no problem.

Not.

Not meant to be.

And then this house just came.

Kept coming back to my mind.

And probably like two or three weeks later, I text the guy and I was like, hey, just gonna throw this out there.

Is this house still available?

He was like, you know, it won't hurt to ask.

I'll go ask.

And ended up everything had fallen through, and the property was still available.

And so I purchased my first property for $35,000.

And so it was.

It was kind of, you know, I think my first one was kind of the biggest home run that I.

That I had.

So, um.

So then from there, I have just been kind of continuing to, you know, watch watch properties and had a package of five that, you know, looking back, I wish I would have probably bought, but I wasn't ready yet.

And, you know, it was a little bit out of my budget.

But then in October, I had found a couple properties and so really started to, Hey, I was ready to purchase some more.

So I was putting offers in, you know, not thinking that many are going to stick.

Cause I love your.

Your, you know, mindset, you know, make sure that you buy equity, you make money when you buy the houses.

And so I'm a.

I'm a stickler for that.

I'm not.

I never pay full price for things.

And my wife kind of gets on me about that as well.

It's like, don't negotiate if you won't.

You won't get it if you don't ask.

So.

Absolutely.

So.

So, yeah, so I went in, you know, making a couple offers, you know, definitely got blown off by several.

But then, you know, a couple stuck, and before I knew it, I was in a contract for three.

And so through the process of the inspections and all of that, one of them got weeded out.

You know, it was kind of a.

A lot worse than what I thought it was.

But then I was able to close on the other two.

But then prior to that, it was basically in the same week.

There was one other building that I saw that kind of interest me.

It was Quadplex.

It was in a good location, and I'm not sure why it was so cheap.

And I talked to my realtor, and I was like, hey, I'd like to make an offer on that as well.

And so it was listed for 1,120, I believe.

And I ended up offering 115 so 5 under and it was in the middle of this, you know, market, you know, hype and different things like that.

She said that that evening there was four other offers made on the property.

So I was assuming I'm probably not going to get it.

And I want to pause for just a quick second and say thank you so much for listening to the show.

If you've gotten anything out of the show, I would appreciate it if you went to anywhere that you listen to, say Apple or Spotify or wherever and leave a five star review.

Honestly, I really appreciate you leaving an honest review.

I just love giving all this information out and I want to see you succeed.

Also send this to one person, just tell one person, say, hey, Dustin wants to help a million people to invest in real estate.

You, you need to listen to this because it's going to change your life.

Lastly, get my real estate investment course completely for free.

Text the word rental R E N T A L rental to 33777 rental.

The 33777.

I'll literally give you my course showing you everything in the business so that you can become financially independent.

And the next morning they said they accepted mine.

And so, so that was really kind of cool.

So I was, I wasn't quite sure.

I was a little bit scared because, you know, I was like, dustin, what, what am I doing?

I remember, you know, I think emailing you just, you know, make sure I'm not, you know, in over my head.

But yeah, so that's kind of where I'm at right now.

So I have the, the two at my property and then, and then the single family in January and then the quadplex and then the two single families.

I just closed on here in the last month and a half.

That's phenomenal.

And what you're.

I get a lot of people asking me, well, how do you buy it for lower than the market value?

And like in today's market, this is 2022, we're actually in the recording this in December.

And so people are asking like, how do you actually do that?

You know, people are getting, you know, paying way over price or they're asking price.

And I'm like, well we're investors.

We don't, we just keep putting in offers.

Somebody eventually is going to take our offer and if they don't, we'll just keep waiting.

We're patient but we don't overpay.

And that's something I've seen you do, which is great.

And then really getting two properties at the same time, that's just terrific.

And people are asking me, how do you even get one, let alone two at the same time?

Because we're putting in lots and lots of offers now.

When you started doing the coaching, what would you say has really helped you to make sure that you're doing it right, that you're not going to be losing money, that you're going to be eventually be able to become successfully unemployed with your business?

Yeah, yeah.

I mean, honestly, I went from not knowing much of anything to just, you know, learning everything from your show and from the podcast and.

But ultimately, you know, the green light deal, you know, running the numbers, you know, if the numbers work, you know, it goes, you know, you don't want to, you know, connect your emotions as much.

If the numbers work, it works.

And so that's what I really had to go back to.

You know, even in my questioning and in my doubting, you know, hey, if the numbers work, the numbers work.

And so trust the numbers.

And I really like what Charles had mentioned in one of the, I think the internal emails that he sent out to you.

And that was kind of the same thing that I've been going by.

You know, when you run your numbers, I always run them high because I rather be high than low.

And so, you know, if interest rates are at 6%, you know, do it at 8%, run them at 8%, just to give you an extra buffer.

Because if, you know it's going to work at 8%, you know, it's going to work at 6%, and there's some flux for increase as well.

And so different things like that that I've been doing.

And like you said, I asked myself the same question, you know, is now the right time?

Is now the right time?

Because I still, you know, think it's.

It's going to fall, but I'm not going to wait for that because.

And what I'm realizing is there's more deals out there than you, you ever thought.

You just have to go and find them.

And, you know, the other thing is, you know, finding the good locations, you know, I think it goes back to starting that your starting point is, you know, make sure that you find a good property manager in a good location.

Because, you know, that's something that I've also been struggling with a little bit as well and kind of having to backtrack.

But I'm realizing through my mistakes more and more the validity of that, the importance of that is, you know, you can find good properties in good areas, but if you don't have A good property manager, somebody that you can trust, it's not going to be a good area.

And so I would just encourage you in that.

So start with your property manager.

Start with, you know, finding areas that have good, you know, rent, rent ratios to purchase prices and stuff like that.

And then just, you know, stick, stick to it.

So I know early on I was a little frustrated because, you know, I was trying to balance a full time job with, you know, all of this and I wasn't going nearly as fast as I wanted to.

But just take, take, take your time, take, you know, work at your own pace, but be consistent and stay consistent and, and things will, will start to fall into place.

So yeah, the process of actually just making sure that a property is going to make you money in passive income, it's going to be a good property.

You're going to, meaning the numbers are going to work.

Well, that's very simple.

In fact, I have the green light deal analyzer that you mentioned.

But literally it walks you through.

Like you just put in a couple numbers and it pops out the information like the ratios that you need.

Do you have enough passive income?

Are you capturing equity?

It even helps you to negotiate.

It gives you like an idea of where you might want to start negotiating.

And so that process is actually very simple.

But what you said, which was actually much harder, especially if you have a full time job and you have a family and you're really, you know, you have to build another business.

That's the hard part is building the business, making sure we're finding the right people in the business, finding the right property managers, finding literally everybody to make sure that the business runs on its own without us.

Now what were some hurdles that you had to jump over or some maybe lessons learned as you've started building your business and now looking back and say, man, this is what I have now.

I already like, I'm acquiring these quadplex, I'm getting these single family homes.

What are in the past, would you say that was a big leap in your brain of like jumped over this hurdle or this lesson learned?

Yeah, yeah.

Like I told you, I think at the beginning of the show or before we got online, you know, this is a learning process through and through.

And so I'm learning every single day as I'm going.

But some of the, some of the hurdles that you know, I've had to walk through is, you know, I had a property manager really kind of frustrated with him, you know, stopped communicating well and not getting payments on schedule.

The way that, you know, I should be.

And so, you know, I'm in the process of, you know, going back to, you know, my other contacts and revisiting that.

And so that's been one of the major hurdles.

The two properties that I have been managing myself, you know, those are going well and then also, you know, starting to implement, you know, working with avail and kind of simplifying those processes.

So that's been really nice just to, you know, begin to simplify and understand the business concept a little bit more instead of doing a lot of hands on, you know, stuff.

So, but one of the other big hurdles for me is so the next phase in my education is financing.

So, you know, the first finance, the first portion of my financing has been through.

I was able to get a decent sized HELOC on my home.

And so that's what I've been using to cash off and to, you know, negotiate deals with some of these properties.

And so that's been working really well.

And especially with the way that interest rates are continuing to go, go up, I have the flexibility to still come in with a cash offer with, with the high interest rates and different things like that.

And so I think that's honestly why I was able to get the Quadplex is because I had a cash offer which I was able to use with my heloc.

So, but another, another, another hurdle that I had was, you know, the furnace went out.

And so, you know, what, you know, I actually just this morning, you know, I had a furnace go out.

And so, you know, I'm in the midst of doing, you know, property managing changing and stuff like that.

And so I had to manage that myself a little bit.

So the first thing, you know, I'm learning is, you know, make sure that you get a couple of different quotes because I had another furnace that had gone out with my property manager.

He came back, he was like, hey, it's going to be $2,700 and, or no, 32, $3,200.

And so I was like, that's a little high for me.

Let me, you know, let me.

In my contract I have, you know, if it's over $1,000, I'll need three different quotes.

And he didn't give me three quotes.

And so I was like, hey, you get one quote and I'll get another quote.

And that makes three quotes.

And so I was able to get, get one for 25.

And then he came back with one for 27.

And so, you know, I saved, you know, $500, $600 that way.

And so you know, all those little things make a big difference in the long run.

And so make sure that, you know, you also stay on top of your property manager until you really establish that trust with him and they understand kind of your business philosophy and how you run things.

So I would just say, you know, hopefully you can find one that you don't have to stay on top of all the time, but especially right early on.

Make sure that they're working for you and make sure that you clearly identify what you're looking for and the limits and the regulations that you set in place.

Anything above 500, I want two quotes.

Anything over $200, he needs to consult with me.

Unless it's an emergency, something like that, just to kind of keep them in check as well.

I think that's a great ideas.

And for me, I always watch over my property managers, and sometimes I kind of take my eye off the ball.

In fact, I think it was like, a couple months ago, I even released a podcast episode where I was talking about, man, I took my eye off the ball.

And some things just came up.

Expenses, things happen.

I was like, oh, my goodness.

Or a tenant's staying there two months longer than they should have.

We should evict them.

Things like that.

When you take your eye off the ball of managing your manager, then bad things start to happen.

So you always need to be watching the.

Nobody's going to care about your money more than you, and so you need to watch out for that.

And I love getting multiple quotes, too, because not just the price.

The price is good.

You want to get that down, but you also have different eyeballs looking at the problem.

And let's.

Because I've had this countless times.

In fact, in Ohio, it's notorious.

If you have a furnace that's older than, like, let's say, 25, 30 years old, every single new company will come in and say, oh, it's not working.

Replace it.

That's the first thing they'll say is replace it.

Well, if you find somebody that actually knows how to repair these, you'll actually find somebody that's going to be worth their weight in gold because they.

I have one.

His name is Bill.

I have one furnace guy, and he's an old guy.

I think he's like 65, 70 years old, and he's still trucking around and still fixing furnaces.

But every single time, like, almost, I would say, yeah, like, literally every single time some new company comes in and says, hey, replace the furnace.

I call it Bill.

Hey, Bill.

And, well, it's usually my property manager calling up other people, but now I just tell them, call Bill first and do that.

Because I built my team, I built my business up first.

I found Bill, and Bill, every time he'll go in there, oh, you don't need to replace it.

It's just, you know, this $20 part and a little cleaning, and we're good.

And it's like, you know, $50 for the call.

I'm like, done.

That's awesome.

And so you have more.

When you build the business, you have the right people running the business, but you still need to watch out for them.

You still need to make sure that you're managing them well.

So in financing, what are you doing now to move forward?

I mean, there's lots of different ways to get financing your properties.

Using a HELOC is fantastic.

In fact, if you can buy a house with cash, that is the best way.

In fact, all real estate investors would love to get there.

We should get to where we're buying a house with cash.

Doesn't have to be our own personal cash that we saved money.

It could have been a home, micronautic credit, private money, hard money or some other way.

But you use cash to buy the property, you get it much faster.

Now, using up the heloc, you need to, you know, eventually refinance, pay off your HELOC and all that sort of stuff.

But what are you doing now to continually scale the business with more properties and financing?

Yeah, so I actually am meeting with a couple different local banks because I have a friend in commercial banking.

And so he's.

I want to pick his brain a little bit about.

He was telling me about a product about commercial loan that will also be tied to a commercial line of credit.

So that, you know, I can.

So I, I'm really new at that, so I have not a whole lot of information on that.

But I.

Setting up a meeting with him to just, you know, kind of figure out what that looks like.

And then I'd also like to start doing some private, private money as well.

I've already been, you know, throwing the word out.

You know, like you said, I love, you know, I'm a, I'm an investor, and then I do everything else on the side.

But as, as you say, as you, you know, have those conversations, I've had a number of different conversations with individuals who, you know, I've discussed that I'm a, you know, I invest in real estate.

And they're like, oh, you know, what do you do?

And so we get in conversation Then before I know it, you know it, I, you know, I learned something from the conversation.

And just the other day I had a conversation like that where this gentleman's been investing for six years, same area, and had a property manager and said, hey, I just changed property managers.

And I was like, oh, your old one doesn't happen to be this guy?

And he was like, actually, matter of fact, it is.

So just kind of just different conversations.

You.

You begin to discover that there's more people out there that are doing something similar to you that you can learn from, that you can, you know, pick each other's brains.

And so I'd love to.

So in doing that, I, you know, threw in the word out and had a couple individuals already come to me and say, hey, I'd love to invest.

You know, I'm not necessarily into doing it myself, but I'd be willing to give you money.

So that's kind of my next.

My next phase as well.

A couple of different options that I'm looking into.

But I think now with nine properties, I can build my.

I can present a portfolio and kind of give them the numbers, give them before and after, because I did some, you know, completely remodel on the first home and, and then in the process of remodeling the last three that I just purchased.

So, yeah, I think it's great.

And you're finding great ways to finance your property.

So instead of, instead of actually having your homework line of credit, using your savings, whatever, it might be like that you have at firsthand, but there are other ways, like having a business line of credit, having private money lenders, hard money lenders.

So you're coming to Roopcon right in.

In May.

Awesome.

I have a good friend of mine, his name's Felipe.

He loves helping people get business lines of credit, commercial lines of credit, business lines of credit.

And so he's going to be there teaching on how to get even more business lines of credit, just unsecured business line of credit.

So I literally went to my.

What is it called?

The local credit union.

Just went to a credit union.

I said, hey, I have my business.

I would like to get a line of credit.

They said, okay, well, you can get a secured one, which means, you know, it's attached to a property, attached to, you know, some sort of collateral, or you can get an unsecured line of credit.

It's a higher interest rate.

But here's.

We can give you $50,000 as an unsecured line of credit for your business.

Like, wow, that's Fantastic.

I mean, that's going to help me get many properties.

I literally have like five businesses.

So I can get literally five different homemaker or sorry, business lines of credit.

But at the same time, I can go to business after business.

I know of one person, he literally just had one business, but he went to bank after bank after bank to find more business lines of credit.

And he just got like, like 10 business lines of credit of $50,000.

He has $500,000.

He can use so, so many different ways that we can actually invest.

Now.

What are your goals?

Like, what would you eventually like to see?

What's the purpose of you investing in real estate?

Yeah, so I mean, the number one purpose is, you know, successfully unemployed is to be able to provide for my family.

But then, you know, as a family, we love traveling.

My wife also has a bunch of health issues and so I'd love to get her, you know, more, more medical attention that she needs.

And so that's a big drive as well, you know, to really keep increasing the business.

I also work for a couple nonprofits and so we believe in giving back.

And so that's kind of another goal of ours is, you know, as we scale this business to be able to give back more and more stuff like that.

So does that kind of answer your question?

It sure does.

Especially being successfully unemployed.

That was my number one goal, is making enough money and passive income.

Now you said it was your wife that has illnesses.

Yeah, yeah.

So we, we had a long story short, we had our first child at 20 20.

We went in the labor at 25 weeks and she was born at 27 weeks.

And so 2lbs 7oz and has just really been a miracle.

She just turned 10 and is playing Praise the Lord and just highly, highly energetic young young lady.

Beautiful young lady.

So.

But then because of that, we discovered a lot of medical issues in my wife.

She had some massive blood slots in her legs and that she's dealing with for the rest of her life and then some back issues and stuff like that.

So, yeah, so love to get, you know, just some extra medical attention for her.

And, and then, yeah, we, we've adopted a, a boy and he's four.

And so we are continuing to.

And we're also looking to possibly do some fostering as well.

So, you know, being financially unemployed will really help us to be able to free our time to be able to invest in, in, in some, you know, more people ultimately.

That's great.

That's great.

After the call, I'll get, get her Name So I could be praying for.

For her and pray for you guys.

Yeah.

Now this is great.

So next steps for you, is it to continually build in the same city or.

Because I know people always ask where should we invest?

And you're in Ohio, is there.

Are you looking to continue in that area?

Are you looking to branch out to other states?

What are your thoughts there?

Yeah, so my, my initial goal, you know, just goals from.

From number perspective was, you know, about 10 in one area and then, you know, move to another area just to diversify.

Because I, I'm all about diversification and stuff like that.

So that is kind of the next step as well is I want to, you know, begin to.

I we.

We lived in South Carolina for a while, so I have a, you know, a heart for the South.

I love the south Southern hospitality.

And so I'm probably just from a personal perspective, you know, wanting to, to start looking down south somewhere to, to try to, to get another location.

So that would be one of the next steps in the scaling.

And then yeah, with the financing, figuring out financing, growing in that is another step.

And then also having to kind of figure out the property management, get that all figured out as well.

So yeah, that's great.

And I know a lot of people ask me the question, like, when should we find a new city?

I personally don't like having all my eggs in one basket, like having lots of baskets so that in case something happened to one property manager, I'm not having to worry about feeding my family.

And so that's smart.

And moving on to another area would be great.

But at the same time you also have short term properties as well.

And that's why I want to quickly talk to you about that because I love buy and hold.

So it's not just long term rentals.

Like I love long term rentals, don't get me wrong.

But I love midterm as well.

I've short term, I love multifamily, where we're buying and holding these properties for a very, very long time.

In fact giving to, I love giving, want to give my kids like generational wealth.

So talk to me about your short term rental property that you have.

Yeah, so the short term rental property, we had a friend from Ireland stay with us and so we ultimately had remodeled it for her and because of visas she'd go back and have to renew.

And then, you know, she got stuck in Ireland for, you know, a year and a half through Covid.

And so we were like, hey, let's, let's airbnb it.

And so that's when we started and it's been a, you know, a big hit.

You know, it's, you know, two to, you know, two to three times the amount of what long term rent we can get out of it.

And now what I'm doing is I'm looking to create a website for it.

And our, our occupancy is about 50%.

And so now my goal is I want to try to get that occupancy up to about 80, 80 to 95% occupancy and grow it that way.

But that's been a huge success.

We, we have, you know, nothing but five star ratings.

And so it's been a lot of fun.

You know, I would say just some, some tips that I would give for, for short term, find something that's of minimal value, that surprises your, your, your, your, your guests, that you don't list online.

Different things like that, Something simple just to make it more personal.

That's something that we've done and we've had great success with.

You know, a lot of people, you know, mention it in their reviews and different things like that.

But, uh, it's just a, you know, when people are looking for, you know, Airbnb or, you know, place to stay away from, you know, large hotels, they want, you know, something personal.

They want something a little bit unique and different.

And so I think finding something like that is a great marketing, you know, expense that you can write off.

And so we've had great success with that.

So.

But yeah, what example?

I mean, could you give a quick, quick example what that would look like?

So, yeah, so like, I'm in, we're in Amish country.

And so, you know, we, we do baked goods.

Do you have a butter churn?

Actually, that's a great idea.

I should, you know, my dad, my.

Wife would want to stay there.

She would love to.

She loves everything about Amish.

And so she was like, well, we could go move over there.

Yeah, yeah, so, but yeah, so we, we get some local baked goods and just say, hey, here's some local treats for you guys, hope you enjoy.

And try to put a Post it note or something like that on it.

And so, yeah, just kind of make them feel at home.

And that's very thoughtful.

That's been another, the other, the other big thing that, you know, I never really realized, but we get a lot of compliments of is we have a man drawer.

A man drawer.

Okay, I can imagine what that is.

Tell me a little bit more about that.

Okay, so it's.

Yeah, it's basically a drawer with a whole bunch of knickknacks and so like, you know, a couple spare batteries, you know, some pens, you know, just knickknacks of, you know, something, you know, people might need when they're gone.

And so we've got.

It's been funny just how many, you know, comments we've gotten about that.

So that's fun.

Yeah.

Manjor, I like the name of that.

Like when we move.

So my wife and I, we moved from California into Arizona.

We moved into one of our rentals.

It's a really relatively small house, 12, 15 square feet.

And so we're eventually going to buy something a little bigger when the market does change a little bit more.

But anyways, we have limited kitchen space and drawers and my wife's filling him up with a bunch of stuff.

And I said, babe, and I don't, I didn't have.

I could start calling it a man drawer, but I would call it a utility drawer.

It's a utility just to throw pens and batteries and matches and matches or like lighters and what are just things that you would need household that you wouldn't normally imagine.

She was fighting me tooth and nail to put that in there.

Eventually I won out and it's the most used drawer ever because everything is inside of there.

So that's a great idea.

Collect all.

It's the collect all.

So.

Yep, absolutely.

Man, Kenny, this has been great.

Now hopefully everybody, so you listening to this show, you need to realize that Kenny and I are just regular people.

I would say normal, but people get a little like, what's normal?

But anyways, we're regular everyday people.

Like just your next door neighbor that has figured out how to do this and started doing it and so you can do that, right, Kenny?

I mean, is there any parting thoughts that you would like to give to everybody and helping them to realize that they can do it too?

I would say yeah, just, you know, learn as much as you can and take that first step.

That first step is the hardest, but take that first step.

I never imagined that I'm where I'm at today only about a year later after starting in.

But I would also say I love what Dustin says.

Live frugally, live today.

Save up as much as you can so that you can do this investing and make wise decisions and then you know in the end it's going to pay for itself.

So.

But I love it.

Thanks, man.

Kenny, it's been great having you.

Hopefully people realize that, man, you can do that.

Everybody can do that.

But, Kenny, it's been great also having you be a part of the coaching, as being part of the community too.

I love how you're just encouraging people and literally telling people, man, I got two properties at the same time.

People are realizing, like in the membership, they're like, because we're all in slack and we're all talking together for everybody listening.

So we're all talking together.

Can you pop on?

Hey, I just got two properties.

Like, what?

This is awesome.

If I can do it, anybody can do it.

And so, yeah, I appreciate just all that you do, Dustin, and just your heart behind, you know, just wanting to help a million people.

I'm hoping that I can come on board and just help you achieve that goal.

And so, yeah, so awesome, buddy.

Hey, man, it's been great having you on.

Thank you very much, Kenny.

I really appreciate you.

All right, thank you, Dustin.

And that is it for today.

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