Welcome to Cleveland real estate investor. On this podcast, you'll hear about every aspect of the real estate investment business. You will talk to your rockstar investors about their businesses, how they built them, where they came from, and where they're going. Who am I? I'm Joe Lieber and I've made millions of dollars from the real estate investment business over the last 20 years. If you're ready to hear the good and bad from a guy who's learned this business from the school of hard knocks and get educated by some bad ass entrepreneurs, then put your helmet on, strap on your chin strap. Let's ride.
(00:36): Hey, Hey, what is up? What is up? Thank you for tuning in my loyal podcast. Followers. Appreciate you. You know, every week I sit here and think of things to talk to you about and just what I kind of had decided the direction to go in for me is just, I want to talk to you about real life things that happen in my business every day. I'm just starting to kind of pick something out that happened every week and just kind of share about it and talk about it. That's what I talk about tonight. Just I'm living by the sword. You know, the decisions you make. And that is what has kept me in business for 22 years is fulfilling my commitments. If I tell you I'm going to do something, I'm going to do it. And that's the difference. That's what will make you successful in business and in life and relationships.
(01:27): And that will kind of carry you through. So I'm going to tell you a story tonight about something that happened this week actually happened today. And you know, maybe it'll resonate with you and make you think. So here it goes. In 2013, I was introduced to a man from Phoenix, Arizona, and we didn't know each other from Adam, just from Elsa, call it a seminar we were at together. And I start talking about Cleveland, Ohio real estate. And he thought it was interesting. You know, that you can buy houses so cheap in Cleveland. You can't do that in Phoenix, Arizona. I was telling him at that time in 2013, how you can buy houses here for like 30 or 40 grand, very minimal rehabs and get 800 to a thousand dollars a month in rent. He was blown away. He said he wanted to get involved.
(02:14): I want to do that, man. I want to do that. You know, people say that talk is cheap, right? So three days after the seminar I was at with him, he calls me fate, buddy, how are you, man? You know, it's like, I'm doing great. And this is January. Mind you. Cause I'm doing great. And I'm actually down at Hopkins airport. Can you come pick me up? I'm like, yeah, right, dude, you're not here. He's like, no, dude, I'm serious. I just landed. I was like, what? I ain't believe he said, come get me, man. I'm like, I don't believe this. So I get my car like an idiot. It's like nine o'clock at night. And I drive down there and sure his stuff, he sit in here or that number six at the end of the departure arrivals. I'm like, Holy crap. I go, dude, what are you doing in man?
(02:59): You got a family at home. Like you live in Phoenix. What are you doing? He's like, dude, listen, I was serious. I'm here. I've a million dollars in my checkbook here and let's go buy some real estate. I'm like, Holy shit, man, this just got real. That was the first time I ever learned. First of all, what turnkey real estate was? I had been in real estate at that point for 15 years. And didn't really know what turnkey real estate was turnkey, real estate investment. And I was like, what the heck? And this is what I learned very quickly, what that means. And the relationship started right there and went on with this gentlemen and he purchased 40 houses for me over a period of about two years, his goal was to buy a hundred. He wandered by a hundred within about a year. And I was like, dude, that's a lot of volume.
(03:50): It's very hard to deliver that kind of volume to one person. You know, buying decent stuff. You know, West Cleveland is what the buy box I turned him onto. And you know, he wanted a lot more than I could deliver, but we got 'em 40 houses over two years and just a great relationship. You know, it was really good. And as he went through that and through his trials and tribulations of owning rental property, he developed a team of people ultimately. So he got his own boots on the ground here and his own leasing agents and zone dispositions team and its own contractors and you know, things grow and evolve and things change and may have to stay in contact over the years, but I don't sell to him anymore. He now has a line on how he's able to get wholesale deals, to get his own stuff, which is cool.
(04:42): And MLS is dry as a bone. That's where we were selling. A lot of the stuff was just to write off MLS. At that time, it was so easy and we all know that's changed now, but he's developed an entire team here and he's ingrained in Cleveland. Although he still does not live here. He lives 2000 miles away. But that was it. It was a good run. It was a lot of good years. And you know, like I said, we managed to stay friends and we still talk about things and different things like that. So here's where I'm getting at though. Right? You have to live and die by those relationships. I remember sitting in San Diego with him during that time after six to eight months after he came to Cleveland and I said, Hey dude, listen, you always got a guy in Cleveland, man.
(05:25): You know, if you need help here, if you're in a jam, I have your back and come on, you guys have heard that before people say that stuff. Right. You know? And then when push comes to shove, what really happens? That person isn't there, right? That's what really happens. Like, Hey dude, we're unless you have my back, you know what happened? The Well's run dry. You know, you don't sell to me more than only. I'm like, you're not really my active client. Well, y'all the analogy is that spoiled milk. You know, that was three years ago. The checks are dry, you know, but I said that to him. I was like, dude, you ever need anything? I've got you and mental health. It's been several years now since I've sold him anything. And he competes with me almost right. He buys from wholesaler sign.
(06:06): Now he buys some competitors of mine. So he called me tonight and he said, Hey dude, listen, I made my vacation home out West here and I need to go to the bank and I am buying a house in Cleveland. I need the 10 to wire. And I'm three hours from, from the bank. Can you send the wire for me please? He goes, listen. I realized, I forgot that you're still on my checking account. I think about that. Right? A lot of trust there, dude put me on his checking account. So if something happened and he was 2000 miles away, I need to write a quick check to a contract or an attorney or something and get a ball rolling. I could do that. So it's been four years since we had done business together, but I'm still on his checking account. And I was tell you do is get some serious money in that checking account.
(06:56): Okay. That's how much trust we have with one another. And he said, Hey man, listen, you know, can you run into town and send this wire? Now I'm actually at my summer home this summer. And the bank that we're associated with is not close. You know what I'm doing tomorrow morning and get my ass in the car. I'm driving. However long it takes to go to the bank, make an appointment and send that wire because that's what you do. You fulfill your commitments. You live, you die by the sword and the relationships you make. That's what makes you successful? That's it? Do what you say you're going to do. I told him that Cove and LA Jolla, you've always got a guy in Cleveland and now push came to shove four years later. No, I don't make money off of him. To be honest, he's buying the home from a wholesaler.
(07:47): Who's a good friend of mine and they're the ones making the money. And if it wasn't for me, no one's gonna make any money. Cause I'm the one that goes through the one town tomorrow and send that wire. But that's what you do. That's how you make it in this business. That's how you keep a good reputation. That's how you can sleep at night. That's what it takes. It's just what, it's just how you're built. It's what it's all about. He still owns these houses and I was hit buying another one. That's really changed his life. You know, he's got, he doesn't have any Ash probably shouldn't get into too many specifics, but yeah, he doesn't have any debt on these things. It's great cashflow, you know, I know he likes it. He's still, he's still buying. I'm sure it's a challenge for him. Like any rental property would be, but yeah, he it's changed his life.
(08:33): You know, he has them, so to speak, mailbox money to some point coming in every month has completely changed the dynamic for his family and his wife and children. And it's really cool to see that happen. And I just trying to let this resonate with you that that's how it's done. That's how it's done. You build these relationships, you execute on them. And that's all I can say. We live and die by the decisions we make. So I always be conscious of that. So thank you for tuning in. Appreciate ya. And hopefully you maybe you'll catch this episode. Big Mike. We know we're talking about you. Big dog. Alright, thanks a lot. Have a wonderful day.
This is ThePodcastFactory.com.
