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In this episode, you’ll discover:

  • The “Wisdom Real Estate Investing Method” that ensures you don’t go belly up by hiring a scam artist as a mentor (5:04) 
  • Why paying a mentor an outlandish amount of money is one of the cheapest ways to grow your business in a jiffy (6:05) 
  • Why you should run away from real estate influencers on Instagram sharing their Rolls Royces and Rolexes (8:48) 
  • How the up market in real estate masks all your profit-eating mistakes today (and how to survive during down markets) (9:18) 

Hey! Want to do a deal? Need my help? No cash to make an offer? Send me a quick text at 440-389-3883 or shoot me an email at REbroker216@gmail.com and we’ll work together to get you the deal. 

Read Full Transcript

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.

Hey, what's up guys. Thank you for tuning in today. Got a good show for you. We're going to talk about cheesy real estates. Yes, yes, yes. Just something that that happened, you know, and I figured I would talk to you about it before I get started last week in Cleveland. Goodness. There's overcast skies. It's rough. It's a rough place to live. Good fixed scandal of here without seeing the sun in a week or two. And that rain is starting now and I'm not looking forward to it. But one day I will be in Florida living the dream baby. Cause imagine how much fun those cats are having down there. 80 degree weather. And t-shirts that's me, man. That's how I live jeans. Cool shoes. T-Shirt rolling around. Yeah, man. I'm going to do it. You know, things change. You never know. I thought I was stuck here.

(01:45): To be honest. I thought I was stuck in Cleveland, got kids in school. I'm like, I ain't getting paroled until my daughter is 18. I joke around with her and I would say I graduation. When you throw your cap in the air, I already had my bags in the car. I'm driving straight to Florida. Good luck, baby. I'm being funny saying that obviously, but, but now that I got my kids, you know, being basically homeschooled by a teacher and different educators I bring in here, it opens up the door. Maybe it's a possibility here at some point, but forget all that. Let's talk about cheesy real estate today. Here's what I mean by cheesy real estate. First of all. So you flip on Instagram and you got these dudes out there to show off their Lamborghinis and the rolls Royces flashing the Rolex and throwing money all over the place.

(02:37): This has been going on for some years now, right? This is kind of the thing. And there was a period of time, 10 years ago where I thought I wanted to do that. I thought I wanted to be the guy showing flashy cars and flashing money and watches or whatever those triggers are. Right. Everybody has a trigger. Whether it's maybe you're into watches, maybe it's cars, maybe it's boats, maybe it's vacations, lifestyle, living, whatever. And in order to get relevant, I'm not a coach or anything, but in order, I thought maybe by getting more relevant and get my name out there, I thought that would attract people. I never did it. Thank gosh, because I honestly would feel kind of silly doing that. Like if that's what you do, that's cool. I am not disrespecting it. That's cool. If that's you and you'll have a certain amount of people that will follow you because of that.

(03:25): I mean, I watched some of the shows I miss, you know, whatever that shows YouTube, whatever of the people in the rolls, Royces and stuff, you know? So I'm guilty of it. But as I think it's getting a little played out. So what I'm saying, like, I feel like real estate is the only business that you make a little bit of money and you got to go out there and show everybody and tell them you're a coach. And you're a mentor now. Like I don't see a guy who owns a vodka company. The guy who started Pico's vodka, I don't see him out there going, Oh, here's how you make a million dollars and start your own vodka company. Right. I don't see, I don't know, restaurant tears, having throwing money all over the place to say, Oh, for restaurants, dog, let me show you how to own a restaurant and kill it.

(04:07): I dunno. It seems like it's in a real estate. For some reason, it seemed a little bit in Amazon. Now the Amazon stores, people are online trying to sell you Amazon stores. And we're seeing them throw around the Lamborghinis and the Ferrari's, whoever, what it evolves. Right? So this is my thoughts. Now I'm going to say it's right or wrong. Just what I think. I think it evolves. It went from a lot of that flashy stuff to the information age, right? And then everybody started getting information. You type into Google, go onto Google and type in anything you want and learn about it. And then there's these great websites out there, right? There's bigger pockets. You can just sit there and get all the information you want and read all day about it and go to another good one. By the way, is C R E online, or it used to be a good one.

(04:50): I should say creative, real estate investor, online CRE online. They used to be as for, for bigger pockets, but it's still out there. I was looking at it the other day, a lot of good information out there, you know? And you can just sit there and educate yourself all day. But in my opinion, I think it evolved. I think now where we're at is we're in what I like to call wisdom, real estate wisdom investing. I want to learn from the guy who's been doing it for 25 years. Who has real success been in the business a long time. Didn't just like figure out a great way to wholesale houses and then got to go out there and coach everybody. I think people are looking for real mentors. This is how you really do it. Look at my track record. I've been doing this for a long time.

(05:34): I've been through a couple of market cycles and I'm still in the game. I think that's where it's going to. Right. And here's what I like to do. Cause I feel like I'm a wisdom real estate guy, right? Doing it a long time. I'm going to try making anything off of it. I don't want even want anything out of it. But if I did, that'd be cool. Right. People will migrate to that. I have been through market cycles. I've had ups and downs flip upside down left. Right. But that's what people want to learn from. Right? It shortens your learning curve. You'll figure this out at some point. But if you can shorten your learning curve through a coach or mentor the idea, I used to think mentors were expensive. I remember my first one, Ron Legrand, that old man, he's still out there by the way, it was like three or 4,000 bucks to go to a weekend bootcamp.

(06:21): That was a lot. I was like, I'm not paying that. I already know everything. I had a mentor here in Cleveland and he was all right, but you know, I bounce off him. What do you think? Should I go to around the grand bootcamp now, man, what's he going to show you? This is what we do. Well, that's bad advice. That's the wrong advice. Just so you know, but I thought it was expensive when really it's cheap because first of all shortens the learning curve. But the mistakes you're going to make are way more expensive than the three grand I would have spent, but I didn't have, but I could have found. So it was way cheaper that can really change things for me, which shouldn't take me so long to find a mentor. Holy smokes. You know, the only reason why once the first bootcamp or on the grand bootcamp was another friend, got to bring me on his ticket as like his partner or help her for 500 bucks.

(07:13): Some reason why I even went. And I'm glad I did that. To be honest with you guys, that was like 2010 wasn't even that long ago, 10 years ago. So I had already been in the business for 12 years and then I finally, I was doing okay, I'm be wrong. I was, I was doing all right. But then I finally, I went down to Florida and met around the grant. And that was that was a game changer, opened up so many things to me and so many opportunities. And it was really amazing, but here's what I've been doing lately. And this is the ultimate to me. It's it's far better than any Bentley I could flash or whatever fancy thing you want to show off with is I connect my connector. I'm connecting people, right? A couple of cats hit me up out in California last week.

(07:57): And you were a hell, I don't know what you want. Do you want a connection to somebody while to get here? Talk to this guy. Boom, boom, boom. There you go. And that's what it's about. Right? Change in your life, man. They're shortening the curve because you reached out, you raised your hand, you reached out, Oh, Hey rock. I'll help you connect the dots. That's all it really is. We're connecting the dots to get me where I want to go. I connect the dots for a couple of you. Cats feel you text messaging over the last month and that kind of has some dots for you. I'm glad you did. Hopefully it helped. I try to lead you in the right direction. And that's what really I see is I think that's a real player, a real baller does that. You have the answer. I don't care about the car or the Rolex.

(08:38): Are we going to show off, connect me, man, let me see real results. That's the baller. Cheesy real estate, man. It's so funny. I see a lot of that too. If you start dialing into some of these guys that are out there showing the cars and all that, I don't really do as much volume as you think. If you ask, if you can get the, if you can get to the direct questions I had been in the business for four years, four years, we've been on an agreement train for four years. What happens when it gets hard? What do I do? Then switch gears. How am I going to make it through the next downturn? Everybody's a genius right now. Think about anything you buy at a discount. You could fix up, put in the MLS, you're going to win. You're going to make money.

(09:18): I heard a story that day, check this out. A lady buys a house on Tampa, right off of state road there an old Brooklyn, you know, C neighborhood, right? And you can buy stuff down there not long ago for nothing. She buys this house. And are the numbers I'm going to start ballpark. I think she made a lot of like 60 grand paid a contractor, $30,000 to do a renovation. He needed to, one thing, took the check, cashed it. She never saw him again. She lost 30 grand. She goes out, gets another contractor, pays a new guy, another 30 grand. It's the rehab done? Well, how it typically happens is she should lose money, right? Her 30 grand that she gave the contractor a took her profit younger to make money now. Sorry. That's how it works. You got burned. But not in this situation.

(10:06): She sells this house for like one 60, something crazy like that and still makes 30 grand. So she would've made 60, but because she had a contractor burner, he still made 30 grand doesn't work like that, guys. It doesn't work like that. Everybody's a genius right now. It's easy. It's not hard. We're in an up market. Inventory is really low. It's not hard to make money. You can make a mistake and still make money. Well, what's going to happen when things get tough again. And that's what it's all about. The guys that really can connect you. Who's going to take you where you want to go. Not saying I'm the guy, I'm just having a conversation with you today about what's on my mind. And that's what some of mine today. So nothing bad about this stuff, you know, I just don't do it. All right guys, that's it. Have a great day. Watch some cool fleshy videos like I'm going to do anyways. And thank you for two nights.

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