Remote Real Estate Investing With the Fearless Millionaire

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You have found Authentic Business Adventures, the business
program that brings you the struggles, stories,

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and triumphant successes of business owners across the land.

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Past episodes can be found morning,

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noon, and night at the podcast link
found at drawincustomers.com.

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We are locally underwritten
by the Bank of Sun Prairie.

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My name is James Kademan, entrepreneur,

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author, speaker and helpful coach to small
business owners across the country.

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And today we’re welcoming/preparing

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to learn from Nathan Amaral,
the international real estate investor.

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And I love this.
The Fearless Millionaire.

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Nathan, how are you doing today?

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So good.
Great to be here.

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Thanks so much for having me on your show.
I appreciate it.

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Yeah.
Thanks for being on here.

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Tell me when you said international
real estate investor.

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I was like, oh, this gets cooler.

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So how can we break that down?
Sure.

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Yeah.

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Well, it didn’t always start as
international,

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but it first started off starting real
estate investing about 15 years ago

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and started investing in my local
backyard, just my local area,

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which is Massachusetts
and Rhode Island at the time.

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I did that for about five years,
and then I relocated a few times.

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And when I settled in North Carolina,

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I had a buddy of mine who was doing about
50 properties a year,

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and he was doing them all remotely like he
never physically went to go look at one

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of his properties that he was either
buying or flipping or rehabbing.

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And that was really inspiring.

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It was really inspiring.

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He hired me as a consultant
to his business

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for an aspect of his business.

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And then when I started seeing what was

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going on, I said, Well,
I know real estate.

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I thought this.
I said I would love to try this.

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I’m going to try this strategy.

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So I ended up buying my first property 3
hours away from where I was living

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in North Carolina without personally
ever walking through the property.

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We don’t have enough time to go
into details of how to do that here.

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But there’s a process to that.

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And I followed that process.

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And then I continue to do that.

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I started doing, like, 3 hours away,

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then 6 hours away, a state away,
three States, five States away.

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And eventually, I don’t know if you
can tell, but it’s dark outside.

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And in 2013, I decided
to move to Uganda, Africa.

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And that’s actually where I am right now.

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I’m in Uganda.

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Oh, that’s cool.
Yeah.

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And so I moved out here,

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and I was still doing the business
from here, still doing my real estate

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business in the United States
for a while living here.

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And that had a few challenges along the way,
but I figured that out.

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And then I expanded it there
to Portugal, some Portuguese.

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So I ended up doing some
deals over in Portugal.

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And

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that’s, like, the short version of,
like, twelve years.

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Wow.

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That’s where the international
stuff comes from.

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All right.
Let’s talk about when you first started,

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were you flipping or was it buying
to build up a rental portfolio?

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Actually, when I first started,
I was working two jobs.

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I didn’t really have a lot
of capital at the time.

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So what I ended up doing was I I learned,

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hired a coach to help me learn how
to start my real estate business.

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Okay.
And that coach, what he did is he flew out

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to Rhode Island, and he showed
me the ropes in that area.

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And what I basically ended up doing was I

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built a list of buyers that were
interested in properties,

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and then I found the properties
that they were looking for.

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And once I brought them the property,

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they just pay me a fee in between
for that type of investment property.

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And these properties were typically run

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down abandoned houses, like they
couldn’t even find the owner, right?

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You have to search for them.

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So a lot of these properties,
these investors would buy them,

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fix them up and turn around and sell them,
and they would rehab them.

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So I did that for a few years.

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And then I got into some small complex,
duplexes and quads and stuff like that.

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I started doing a few rentals
when I moved to North Carolina.

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That’s probably when I would say I started
doing a little bit more strategic real

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estate,
such as, like,

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creative financing on properties I
would own or finance lease to own.

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I started doing those remote purchases

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and whatnot virtual is
a better way to put it.

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And then that started expanding
into more commercial apartments.

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Land.

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I’m trying to think of all the different
types of deals I’ve done,

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but I would say the majority of them
have been in residential housing.

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I had a big connection to veterans.

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I knew there was veterans
that affordable housing.

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There was a lot of people who were
struggling with getting affordable housing

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and veterans who are maybe
active or inactive military.

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And I would provide housing for those
people around the North Carolina market.

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So that’s really how I got started.

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I was in my early twenties.

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I did that for about five years

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in the Massachusetts,
Rhode Island in North Carolina markets.

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Wow.
That’s cool.

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That’s super cool.

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So when you’re talking about rehabbing

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stuff, were you the one putting on the
tool belt swinging the hammer title?

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I wasn’t.
No, I wasn’t.

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I did a few rehabs, but I did those,
like, later on in my life.

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And I did not do any rehabs.

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I’m not good at that kind of stuff.

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So what I would do is I would basically

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buy the property,
and if it needed a little bit of work,

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I would sell it with it,
needed a little bit of work.

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So I would sell it to an owner,

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but an added condition,
and they can fix it up if it needed, like,

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basic small things,
paint and carpet and stuff like that.

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That’s not really a big deal.

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We’ve done a few of those.
But most of the time,

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I was buying properties,
either flipping them over to someone

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who would rehab it or I would buy it
and then do an owner finance transaction.

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All right. So at the time,
were you the owner or you’re owner

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financing from the owner
you’re buying for?

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Would I be the owner?

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So I would buy and purchase.

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I buy and purchase the property,

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and then I turn around and owner
finance it to the new buyer.

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Wow.
Yeah.

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I’d buy it as an all cash transaction.

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And then I would turn around
and create a mortgage for them.

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Sticking your neck out there, right?
Yeah.

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Basically what I was doing,

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basically, it’s just a long term hold.

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In a summary, right.

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Is you’re being the bank.

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There’s a lot of money in banking.

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I’ve heard jokes from buddies
of mine in the industry.

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All we’re in the wrong business.

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We should be in the banking industry,
the banking business.

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But the reality is when you’re holding

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the property and you’re creating
a mortgage for someone,

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you are the bank for the property
because the property is the asset.

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So yeah, it’s a long term play.

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But let me tell you,

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I think anybody who owns a mortgage,
you know that after the time you pay your

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mortgage off in 30 years
that you have paid two or three times

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the house, you could have
bought two or three houses.

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So that’s basically the return that you’re

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kind of looking at when
you hold long term.

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And that kind of works for my lifestyle,

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because I like to have this more travel,
more international lifestyle.

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So I’m not going to be, like, on the site,

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like rehabbing property
and stuff like that got you.

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I guess the concern that I guess the red
flag that comes up with me is if somebody

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defaults, then you got to go chase them
down to get your money kind of thing. Or

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is your bank probably
more tools to do that?

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Yeah.
James, that’s a great question.

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And I’ll tell you what I can’t say.

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It hasn’t happened.

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Yeah, it has.

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Especially when Tobit
first happened first hit.

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We had a bunch of that going on.

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And what we ended up doing
was loan modifications.

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So initially we took the position
and said, hey, is it anything’s wrong?

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Let’s figure out what we can do.

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Let’s adjust the payments
and maybe tack it on the end.

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So we made some loan
modifications to our homeowners.

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However, when something does default
and I’ll just keep this really simple.

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If someone does default in that situation,
I personally don’t handle it.

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All our properties, our entire portfolio
is handled by an asset manager.

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So if something happens or goes wrong.

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Yeah, the asset manager contacts me

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and says, hey, Nathan,
here’s what’s going on.

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Here’s the reports.

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So I’m not collecting mortgage payments

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personally, my asset manager
collects those for me.

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Nice. So that alludes to the question,
how do you find a good asset manager?

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That’s a great question.

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Thankfully, I’ve only gone through, like,

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three of them in the past, like,
ten years, which is great.

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It seems like a lot to me.
I don’t know.

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Well,

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I look at this as like finding
the best accountant for your business.

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It’s really difficult.

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You have to go through a few of them.

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Yeah.

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I feel like I was really lucky with these

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guys because the first one,
I’ll tell you what,

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having an asset manager,
they can be really cheap.

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They can be as cheap as,
like, $15 a month.

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I don’t personally recommend
that I pay a little bit more.

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So it’s a little bit more expensive,
maybe $$35 to $40 per transaction.

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However,
I actually have someone who actually gets

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on the phone with the borrower,
and I think that’s really important.

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I really do.
Some people won’t do that.

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Some organizations will do that.

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So I will say this.

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I do pay more of a premium price
for my asset manager, but then again,

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they get a little bit more of a personal
touch on that side of things,

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rather than just a letter in the mail
or an email or something like that.

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Got you.
All right.

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Yeah.

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So you get what you pay for
with these asset managers.

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I imagine they have their niches where
they’re only taking care of a certain area

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or a certain type of property
or something like that.

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Yeah.
That’s a good question.

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Some of them do.

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Actually, some of them
are really state bound.

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I would say state bound because
they only work in a specific state.

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So they have their entire
business model in that state.

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They could send people to go start

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an Eviction or anything like that,
whatever their processes are,

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whatever the list of services are
in the asset management process.

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Okay.

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The ones I work with are national.

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So, yeah, there’s national asset managers

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that’s typically what I’ve been doing
is working with an asset manager.

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And then what they’ll do is they’ll
subcontract in that state if they need

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someone, so they have
services that they use.

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Got you.
Okay.

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Yeah.
That’s awesome.

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How did you learn about who to go
with or how to find them?

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Well, it was kind of like
a referral thing, really.

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The guy who was doing
about 50 deals a year

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started like he started to do this model,
but in a different way,

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he would do, like, a seller,
a rent to own per se.

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It’s more like a rent to own model,
or they call it a land contract.

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So he would do it
a little bit differently.

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And I just kind of like,
spinned it in a unique way.

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Anyway, he was my go to guy.

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When I asked him, I said, hey,
who’s your asset manager?

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I tried them.

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They were my first pick because it was
a referral, and I didn’t like them.

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All right.
I didn’t like them.

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All right?

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They weren’t good enough for me.

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They might have been good enough for him.

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They were not good enough for me.

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And I think an asset manager that can
really jump on the phone in tough times is

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really important,
especially for the homeowner.

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I don’t think a homeowner if they’re
in a tough time or defaulting on a payment

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or something like that,
they should be going through a portal.

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I really think they should get
on the phone with somebody.

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And that’s what I like about
this asset management.

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That’s cool.
That’s awesome.

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So then next question here.

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Everyone’s going to want to know, right?

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How do you find
the properties to purchase?

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Yeah.
That’s a great question, actually.

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That’s always the million dollar question.

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When someone comes into my coaching
program and I’m helping people get started

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in real estate, they’re always wondering,
like, well, where do I start?

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What state do I start in?

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And how do I find the properties?

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This is a great question.

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At the end of the day, as an investor,

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you are looking for a property
that you’re going to get a deal on.

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You can’t just go to the MLS
and buy a property for the price.

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It says

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basically in an illustration would be

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as an investor, you’re the Walmart,
and you’re selling retail.

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But you are the Walmart
getting it at a discount.

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So that’s the best way.

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Like, the best way I can put it to you.

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So basically,
the people who have the inventory,

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the sellers who have the inventory
on the property,

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we get it from them at a discount or
whatever is going on in their life.

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And we try to help our sellers,
whether there’s health issues or maybe

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a death in the family, a divorce,
whatever the situation is,

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we particularly like to work with people
who are stuck on taxes, like back taxes.

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And we help try to people find solutions
for that estate stuff like that probates.

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So that’s typically how
we find the property.

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But I will tell you this for anyone who’s
maybe thinking about this is I would first

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start in your own backyard,
like your own state, like,

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know your market really well,
there’s properties in every state.

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And that’s where the best place would
be to start to learn the business.

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And then you can branch out from there.
Got you.

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Okay.

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So when you say, like,
defaulting on taxes,

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defaulting on property taxes
or defaulting on personal taxes.

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Here’S the unique thing
about personal taxes.

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If it’s a lien,

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if it becomes a lien on a property, any
kind of tax, it’s typically property tax.

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But if there is another kind of lien or
judgment that is against the property,

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you could be able to find
that out through a title search.

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But typically property taxes.
What we go for?

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Yeah.
Got you.

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Okay.
And those I imagine you look under

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the county or whatever, figure out
what properties are delinquent.

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Yeah.
Absolutely.

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There’s a whole host
of services these days.

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I mean, technology has
really revamped that up.

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So, yes, you can go to the county
and get three lists of these taxes.

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A lot of people don’t know that.
It’s kind of interesting.

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Sometimes we’ll get really intense or
nasty sellers on the other line where

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they’re like, how do you know I owe
my taxes and it’s all public record.

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Most people don’t realize that,
but actually something that a lot

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of people don’t understand is you can
actually pay for someone else’s taxes

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and get a rebate on interest
back on that from the county.

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Yeah.

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So basically, what we do is we
pursue those opportunities.

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And sometimes there’s a situation where

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a property has been sitting
and it’s an abandoned property.

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It could be a condemned property,

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a mold infestated property
burnout property like it was a fire.

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So opportunities like
that property is just sitting.

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Sometimes the property is not
so bad, but it needs work.

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Today.

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There’s more software that’s available
that those software companies pull data

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from the counties and aggregate
it into a software.

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And that makes it a lot easier.
I’ll tell you that.

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Oh, got you.
Okay.

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Well, that’s super cool.

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So when you find a property,
let’s say that’s abandoned.

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And let’s just say it’s got mold
issues or something like that.

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It’s been abandoned for a reason.

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And now you’re getting into there.

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You sometimes take on more
headache than you realize.

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Well, I mean, it can be,

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but those kind of problems, sometimes
a lot of people run from those problems.

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The first people that run from those

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problems is retail buyers, like someone
family looking to move into a new home.

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Right.

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So first time homeowners are not
going to buy that kind of property.

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Right.
But yet the property is an eyesore.

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It needs to be fixed up and cleaned up,
and a new family needs to get in there.

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So that’s something that investors do.

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They fix up properties that need help.

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The reality is that those properties

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because of the condition
of work that’s needed.

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Those are the kind of properties you can
get at a discount because there’s a lot

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of labor and work and materials cost goods
that need to go into a property like

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that to make it market ready
and ready for a family to move into.

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So are you typically buying a property

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like that, finding a contractor
to fix it up and then sell it?

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Yes.
Okay.

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You can do it that way.

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I know people that do that.

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Actually, one of my clients
in our program.

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It doesn’t exactly just like you said,
he actually buys the property

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with an issue, fixes it up with his
contractor team and then retails it.

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That’s his model.

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Not typically my model.

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My model is simply this.

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I like to find the property,

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and I don’t do the construction
work because I am mostly remote.

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I’m mostly virtual.
So I’m either.

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Like, right now I’m in Uganda.

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I’m not near the property
in the United States.

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And having the management factor

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of looking after someone like
a contractor is not so simple.

[00:17:20]
Unless you’re there nearby.

[00:17:23]
You sound like you have
experience in that.

[00:17:25]
Oh, my gosh.

[00:17:25]
I’m working with them now
on a commercial property.

[00:17:27]
And even when I am nearby,

[00:17:30]
we just get this like, hey,
isn’t this supposed to happen?

[00:17:32]
And they’re just show the truth.

[00:17:35]
What are you going to do?

[00:17:37]
That’s what I’m going to do.

[00:17:41]
It’s really difficult to imagine that kind
of stress and frustration and being

[00:17:45]
completely virtual, like,
just out of the state.

[00:17:48]
It’s really difficult.

[00:17:49]
So I don’t do that personally.

[00:17:51]
What I would do is I’d buy it,

[00:17:52]
and then I would turn around and sell it
to a contractor who is going to fix it up,

[00:17:58]
at least some meat on the boat for them
because they need to make a profit.

[00:18:01]
Of course, their goal is
they’re in business, too.

[00:18:04]
So you just want to leave enough meat

[00:18:06]
on the bone for everybody
to make a good deal out of it.

[00:18:09]
Got you.
I love that analogy.

[00:18:11]
So I guess how do you figure out pricing

[00:18:13]
for some of these things
when you get them for?

[00:18:15]
Essentially, I’m going to say pennies

[00:18:17]
on the dollar, even though they’re all
there isn’t necessarily worth that.

[00:18:20]
But you get what you think is the deal.

[00:18:23]
And then you have to find a contractor
where you’re going to make a profit on it.

[00:18:27]
And they still think what you’re
selling it for is a deal.

[00:18:29]
Is that tough, right?

[00:18:32]
It’s not tough when you know
how to run the numbers.

[00:18:34]
So in a very simple illustration is if you

[00:18:38]
know, the market purchase price
in that area is going for $300,000,

[00:18:42]
you know, you’re going to have to get
based on your percentages that property

[00:18:46]
at a certain percentage to make
the deal work to sell retail.

[00:18:50]
Okay.
You see this property,

[00:18:52]
it’s going to go roughly for $300,000,
and, you know,

[00:18:55]
it’s going to take whatever,
200,000 to get it to that level,

[00:18:59]
and you’re getting it for 20 so you can
sell it for 50 and everybody still wins.

[00:19:03]
Yeah, that’s a great example.

[00:19:10]
It’s all percentages.
Right.

[00:19:11]
So it’s like, you know,
you have to consider if you are not

[00:19:16]
rehabbing it yourself and managing it,
then you know, you have to consider that

[00:19:20]
contractors percentages have to be able
to fit into that deal so that it is a win

[00:19:25]
win when they turn around
and sell it got you.

[00:19:28]
Those are all just factors.

[00:19:29]
But one of the most important things

[00:19:30]
in that is knowing what the cost of goods
are like, how much our windows, floors,

[00:19:36]
paint, how much does it cost
to do a kitchen and a bathroom?

[00:19:40]
Those kinds of things going on

[00:19:43]
Plateau now, but the past
year has been rocking up.

[00:19:48]
Yeah, it has been the cost of goods, man.

[00:19:51]
Has been through the roof,
through the roof.

[00:19:53]
It’s incredible.

[00:19:55]
It’s interesting because there hasn’t
been much signs of it stopping.

[00:19:58]
It’s just constantly been going up.

[00:20:01]
People ask me this all the time.

[00:20:03]
Nathan, what do you think is
going to happen to the market?

[00:20:05]
What do you think is going
to happen to the housing market?

[00:20:07]
And I said, honestly,

[00:20:08]
I don’t think we’re going back to 2000
and 810, which at that time,

[00:20:12]
I was kind of just getting into scaling
up my real estate investing business.

[00:20:17]
But I would say we’re just
in a little correction.

[00:20:20]
That’s essentially what happens.

[00:20:21]
But any time the market goes up,
you can always expect it to come down.

[00:20:25]
But I don’t think we’re going into any big

[00:20:26]
recession in the housing
market at this point.

[00:20:29]
But prices go up at the end
of the day over time.

[00:20:33]
It’s funny.
James, I was watching a video

[00:20:36]
about an interview debate
with some kids from 1956.

[00:20:40]
They were in high school,
and they were talking about how much money

[00:20:43]
they were talking about how
much money was made in a year.

[00:20:47]
And I was just like it was like $500.

[00:20:50]
I mean, things cost so cheap.

[00:20:53]
Gum was $0.05 back then, right?
Yeah.

[00:20:55]
So you know what I mean?

[00:20:57]
It was really interesting
and to the perspective that at the end

[00:21:00]
of the day, housing is just
going to go up and cost of food.

[00:21:04]
And it’s just part of that pattern.

[00:21:07]
Very true.

[00:21:09]
So getting started in 2008 was that easier
because there was more trouble properties.

[00:21:15]
Let’s call them.

[00:21:17]
That’s a good question.

[00:21:18]
Actually, at that time, I was just
coming out of being a mortgage broker.

[00:21:22]
I was a mortgage broker at the time.
Okay.

[00:21:25]
You’re one of those guys, right.

[00:21:28]
If anybody has seen what movie is it?

[00:21:32]
The big short movie.

[00:21:34]
I was one of those guys.

[00:21:35]
I was one of those guys where
we were selling mortgages like

[00:21:40]
ice cream on a hot, sunny day.

[00:21:43]
And it was very interesting because
at the height of the market,

[00:21:46]
I was actually at that time in my life,
I was going to buy a three family unit.

[00:21:50]
It was going to be my first three family.

[00:21:52]
I had done some other deals

[00:21:53]
with contractors, but I was going
to buy my first three family.

[00:21:56]
And actually, it was my ex fiance’s,
dad that told me not to buy it because

[00:22:02]
the height of the market was
really intellectual guy.

[00:22:05]
He’s the one who actually kind
of got me started in real estate.

[00:22:08]
He actually did it’s really interesting.

[00:22:10]
He told me in order to marry his daughter,
I needed to read the book.

[00:22:15]
Rich dad.
Poor dad.

[00:22:16]
Oh, sure.
Yeah.

[00:22:18]
If you don’t read this book, and I did.

[00:22:20]
And then he got me more involved
in real estate investing.

[00:22:23]
But he’s actually the one that convinced

[00:22:25]
me not to buy a three
family during that time.

[00:22:27]
And he said the market is going
to change the market is going to crash.

[00:22:30]
You’re buying it at the highest peak.

[00:22:32]
Right now, when it comes down,
you’re going to lose.

[00:22:36]
And you know what?
I did?

[00:22:38]
Look at a few properties.

[00:22:39]
Got his advice.
I stopped looking.

[00:22:41]
And literally, months later,
the housing market was crashing.

[00:22:45]
Everything was crashing the recession.

[00:22:47]
So I’m so glad I took his advice,

[00:22:48]
because that probably would have
saved me a property or two.

[00:22:51]
Was she ex fiance at the time?

[00:22:56]
No, wait.
Oh, gosh.

[00:22:58]
I don’t even know.
Actually, no.

[00:23:03]
Regardless of where the relationship was.
Yeah.

[00:23:06]
The advice was I was seeing him so often,

[00:23:09]
so I believe at that time
we were together.

[00:23:11]
I’m trying to get things here on my head,

[00:23:13]
but no,
he was always a good friend and

[00:23:18]
future father in law,
I guess, per se at that time.

[00:23:21]
Andyeah.

[00:23:24]
So he really shed some light.
He was a really smart.

[00:23:27]
He’s a really smart guy.

[00:23:28]
He knew he could see waves.

[00:23:30]
He could see waves in markets.

[00:23:32]
He’s really intellectual like that.

[00:23:34]
So yeah.

[00:23:35]
Like I said, if it wasn’t for him,

[00:23:36]
I probably would have been through
a little crisis there myself.

[00:23:39]
Interesting.
So is he in real estate as well?

[00:23:43]
No, actually, he did a few deals.

[00:23:45]
He was a mortgage broker.
Okay.

[00:23:47]
He was a mortgage broker.

[00:23:48]
He also used to sell securities.

[00:23:51]
So he did a few different
things in his career.

[00:23:53]
But at that time,
he was a mortgage broker,

[00:23:55]
and he’s the one who got me
into being a mortgage originator.

[00:23:58]
And then the broker got you.

[00:24:01]
And then it was while I was in that world
of getting him, I was so young.

[00:24:06]
I mean, I was a mortgage originator at,
like, 17 years old.

[00:24:11]
I was really young.

[00:24:12]
And I became a mortgage broker at, like,
18 or some 19 or something like that.

[00:24:16]
And then I started seeing
what was happening.

[00:24:18]
I started seeing these guys get these

[00:24:20]
really big checks, and I’m like,
hey, man, who are you?

[00:24:23]
And what are you doing?
I’m a real estate investor.

[00:24:25]
So how does that work?

[00:24:27]
When I started talking to my father
in law at the time, and I said,

[00:24:33]
how does this work?

[00:24:34]
How does this happen?

[00:24:36]
And he’s the one who really started

[00:24:37]
pushing me and getting me
exposed to that stuff.

[00:24:40]
Nice.
That’s super cool

[00:24:45]
with the mortgage thing.

[00:24:46]
Did you end up getting pushed out
of the mortgage thing,

[00:24:48]
or did you actually,
before everything happened, I left.

[00:24:52]
What ended up happening?
I’ll tell you this.

[00:24:55]
I did go down with a crash.

[00:24:57]
I went down with it in the mortgage

[00:24:59]
business because immediately
all loans stopped.

[00:25:02]
The real reason why my phone was ringing
was from previous customers, either

[00:25:10]
really stressed out or angry that they

[00:25:12]
needed to get out of the
loan that they were in.

[00:25:16]
What ended up happening in the industry
with new regulations came in where you

[00:25:19]
actually needed to go take a test
to become a licensed mortgage broker.

[00:25:23]
And that’s actually when I decided

[00:25:25]
to leave, I was just not because of any
external pressure from previous clients.

[00:25:30]
I actually tried to serve them even more.

[00:25:31]
I turned my entire
Rolodex and portfolio of clients.

[00:25:36]
I turned them over to my boss, who is
a good friend of mine until this day.

[00:25:41]
And I said, hey, man, I said,

[00:25:42]
we need to put these people in a good
package, and I continue to help those

[00:25:45]
people get into a different loan during
that time or do loan modifications.

[00:25:50]
But I decided I didn’t want to be
in the mortgage business anymore.

[00:25:53]
At that time.

[00:25:54]
I didn’t want to be a broker,
didn’t want to go through the regulation.

[00:25:58]
It was a time in my life.

[00:25:59]
It was a season, and I wanted to do
more of the real estate investment.

[00:26:02]
Got you.
Okay.

[00:26:04]
That’s cool.

[00:26:05]
Tell us about when you first got started
to get out of the mortgage business,

[00:26:09]
you’re going to get
into real estate investing.

[00:26:11]
Do you have a nut to start investing,

[00:26:13]
or do you have to try to borrow some money
and do a little shelter to get going?

[00:26:18]
Yeah.
So at that time, I did have money.

[00:26:21]
I had made a bunch of money
in the mortgage business.

[00:26:23]
I also spent a lot of money, too.

[00:26:25]
That was young and silly
and stupid, right?

[00:26:27]
No worries.

[00:26:33]
I did have some capital, and I ended
up buying some apartment complexes.

[00:26:38]
They were small, like about
a twelve unit and then a 24 unit.

[00:26:41]
And sometimes I would do
that with a partnership because

[00:26:46]
I was very into travel.

[00:26:48]
I still am.

[00:26:49]
I’m addicted to travel, James.

[00:26:52]
It’s like, yeah, I like to be remote.

[00:26:54]
I like to move around a lot.

[00:26:55]
I like to travel quite a bit.

[00:26:56]
So I knew a partnership was going to be

[00:26:59]
better for me because I had
someone to go collect rent.

[00:27:01]
I had someone like managing the property,

[00:27:03]
and I didn’t have to do
that responsibility.

[00:27:07]
Yeah, I did get into a few rentals.

[00:27:09]
And then from there,
that’s when I actually was around

[00:27:13]
that time, like, five years had passed
and I started my own consultancy.

[00:27:20]
I really enjoyed the because over

[00:27:23]
the years, James,
so many people would ask me.

[00:27:27]
I’d get invited to conferences,

[00:27:29]
I’d get invited to speak at local meet up
groups and stuff like this,

[00:27:33]
and people would ask me like, hey,
Nathan, can you help me with this?

[00:27:35]
Can you help me with that? Well,
the reality is it took a lot of my time

[00:27:39]
to help somebody else, and sometimes,
Unfortunately,

[00:27:43]
I would help people and they wouldn’t do
the work or the homework that I gave them.

[00:27:47]
Okay.
Yeah.

[00:27:49]
And that was because of my model.

[00:27:50]
I was basically doing it for free or some

[00:27:53]
kind of partnership or
something like that.

[00:27:55]
But anyway, I ended up starting up my own

[00:27:58]
consulting company,
and I started helping people

[00:28:02]
close deals because

[00:28:05]
that was their trigger
that made it real for them.

[00:28:08]
That was like cash in the bank.

[00:28:10]
They actually closed the deal.

[00:28:12]
And that, to me, is probably one
of the most rewarding things.

[00:28:16]
My only way of giving back in this world
and helping people change their life is

[00:28:20]
through getting into real estate
and closing deals and making money.

[00:28:24]
And that’s been going
on now for over ten years.

[00:28:27]
People tell people close their first deal,
their 30th deal, their 100th deal.

[00:28:37]
It’s great.

[00:28:41]
That’s kind of my transition out

[00:28:43]
of the mortgage business
into more real estate and consulting.

[00:28:47]
All right, so for a first deal
for the people that are interested

[00:28:52]
in getting into real estate investing,
would you recommend going down the multi

[00:28:57]
unit apartment property type thing,
getting into more of a fixer upper thing

[00:29:02]
or getting into trying
to flip a fixer upper?

[00:29:04]
I guess.
Low opinion fruit or dare I say easiest?

[00:29:09]
I don’t mean to do like this is easy,
but there’s risk involved.

[00:29:12]
But you know what I mean.

[00:29:13]
What would you recommend for just
to dip your toes in there?

[00:29:16]
Get used to the water kind of thing.

[00:29:18]
This is a great question.

[00:29:20]
And, James, just to put this into context,

[00:29:22]
there are many education companies or
gurus out there who teach this topic,

[00:29:28]
and a lot of them teach this

[00:29:30]
mindset or this pattern of, like,
learn it all like, learn every strategy.

[00:29:35]
The reality is there are so
many ways to do real estate.

[00:29:38]
It can be overwhelming.

[00:29:39]
It’s very overwhelming.

[00:29:41]
I’ve done over the years and I’ve
taught people like apartments.

[00:29:44]
I’ve taught people how
to get into single family.

[00:29:46]
And I don’t.

[00:29:48]
Teach rehabbing houses because I don’t do
that proficiently and well all the time.

[00:29:51]
So I don’t teach that.

[00:29:53]
But I also don’t think people should start

[00:29:55]
there, even though they see
it on TV and all that stuff.

[00:29:58]
What I recommend to people and through

[00:30:01]
my coaching programs, what I recommend to
people is they start from the ground up.

[00:30:04]
And what I literally mean by that is
they start with land first.

[00:30:09]
Okay.
Yeah.

[00:30:11]
They start by working with land,
knowing how that works, right?

[00:30:15]
Most people buy houses, and they don’t
even know how the land was acquired.

[00:30:18]
Right.
But the reality is we teach them how

[00:30:21]
to find motivated sellers with land
and sometimes back taxes again.

[00:30:26]
Right.
Sometimes back taxes

[00:30:29]
they haven’t paid, or they’re just tired
of holding land that they’re not used in.

[00:30:33]
So we teach them how to find land.

[00:30:35]
We get them into their first deal,

[00:30:37]
and then we take them all
the way up to 25 transactions.

[00:30:41]
So they close 25 deals.
Okay.

[00:30:43]
Wow.

[00:30:45]
After those 25 deals,

[00:30:47]
we then graduate them to another
level and they get to choose.

[00:30:50]
So they choose if they want to go
into single family housing or if they want

[00:30:54]
to go into more cash flow, like multi
family housing, apartments and whatnot?

[00:31:00]
And we’ve had people take different roads.

[00:31:03]
Some go into apartments,
some go into houses.

[00:31:05]
What we do not teach is I mean,
we could I do have team members

[00:31:10]
on my team, but we don’t teach it
virtually as rehabbing property.

[00:31:14]
We don’t teach that virtually
because that’s very risky.

[00:31:19]
We don’t teach that.

[00:31:20]
We don’t agree that someone
should do virtual rehabbing.

[00:31:25]
If you’re going to do that, you should
be there present every day, as you know.

[00:31:29]
So, yeah, that’s basically our model.

[00:31:32]
And we take people all the way up through
that model because after someone has done

[00:31:37]
25 transactions,
they’ve got it like they know how to write

[00:31:41]
a contract and how to talk to a seller,
a buyer, a title company.

[00:31:44]
They’ve got it.
And then we just change the property type.

[00:31:48]
So we go from land to single
family to multifamily.

[00:31:51]
We just changed the property
type. Does that make sense?

[00:31:53]
Yeah.
Absolutely.

[00:31:54]
To me.

[00:31:55]
And this is dabbled in real estate.

[00:31:58]
We’ll call it 25 transactions to me

[00:32:02]
over the course of anything less than
five years seems like a lot to me.

[00:32:08]
But is there something
that you have going on?

[00:32:09]
Are you talking 25 transactions
over six months or a year?

[00:32:13]
Something?
Actually, I wouldn’t say six months,

[00:32:16]
but I would say the majority of the people
that are crossing have done over 25

[00:32:19]
transactions have done it probably
within less than two years.

[00:32:22]
Wow.
That’s one a month or faster than a month.

[00:32:27]
Wow.

[00:32:29]
And that’s pretty much I
wouldn’t say the average.

[00:32:32]
But I’ll tell you what, we had a guy,

[00:32:35]
he just crossed over 30,
and he did it in less than a year.

[00:32:39]
That’s his work ethic.

[00:32:40]
I can’t control anybody’s work ethic.

[00:32:42]
But we’ve had some people who have been
in the program for about a year

[00:32:46]
and a half, and they’re pretty
much have to maybe be 22, 23.

[00:32:51]
I’m just going to some of the current
people that I know we have in our group,

[00:32:55]
but yeah, some people can do it faster.

[00:32:58]
I haven’t seen anybody do
it in, like, six months.

[00:33:00]
I mean, that’s not the only thing
that’s even realistic to do 25 deals.

[00:33:05]
Now, your first deal.

[00:33:06]
What we try to do is we try to help people

[00:33:08]
get into their first property
close within 90 days.

[00:33:13]
That can be realistic.

[00:33:15]
Yeah.

[00:33:17]
Because even this last property that I
bought commercial property just recently,

[00:33:24]
I want to say that I
dinked around with them,

[00:33:27]
and I bet it was five months

[00:33:30]
and it was purely
bad communication on their brokers.

[00:33:36]
It’s like I have this money.

[00:33:38]
I want this property,
but it’s not like going to Walmart

[00:33:40]
and just buying a box of whatever
diapers or something like that.

[00:33:44]
There’s this process and not return phone

[00:33:48]
calls and stuff like this just kind
of him and hawing kind of thing.

[00:33:51]
Now, maybe I guess you can tell me

[00:33:54]
with I’m going to call them troubled
properties for lack of a better phrase,

[00:33:57]
some of these different properties, maybe
they expedite it because they want

[00:34:02]
to solve whatever financial
problems they have.

[00:34:05]
I don’t know if that’s the case where
these guys are just like, whatever.

[00:34:10]
I don’t know how big your commercial

[00:34:11]
property was, but I will say this anything
commercial does take a lot longer.

[00:34:15]
It does.
Yeah, it does.

[00:34:17]
I mean, what we do with our clients when
they first come into the program is we

[00:34:21]
teach them like land,
but for residential or recreational use.

[00:34:25]
All right.

[00:34:27]
They’re not buying big lots of farmland,

[00:34:31]
like whole acreages and subdivisions
or big commercial pieces of land.

[00:34:36]
They’re actually working on smaller lots.

[00:34:38]
So typically the profit on each one can be

[00:34:42]
on the low end, probably
like 7000 on the low end.

[00:34:46]
Or maybe depends, on average,
it could be 5000.

[00:34:50]
And then on the home run deals,
you’re probably looking at over 30,000.

[00:34:54]
I mean, we just had someone
who closed the deal 27,000, 21,000.

[00:34:59]
You do a few of those a year.
You’re calling?

[00:35:02]
Yeah.

[00:35:02]
If you’re doing one of those a month,
I’m thinking you’re doing okay.

[00:35:06]
Yeah.

[00:35:07]
So we teach our clients to start off
with those kinds of transactions.

[00:35:11]
And then after they do the 25 deals,
then they can get into more commercial

[00:35:15]
stuff, which does take
a little bit longer to close.

[00:35:18]
James, I had a property
I just finished buying

[00:35:23]
a senior care facility in Portugal,
and that took a year to close.

[00:35:28]
Like, they are a lot slower there,
but that literally took a year to close.

[00:35:33]
And like you said, it’s communication.

[00:35:35]
They’re very slow over there.

[00:35:36]
You have to push them,
push them, push them.

[00:35:38]
But yeah, it was a whole complex.

[00:35:41]
It was 26 apartments, lots
of restaurants and all commercial space.

[00:35:46]
And another building with room.

[00:35:49]
So commercial does take
a little bit longer.

[00:35:51]
We don’t teach people to get
into that right away.

[00:35:54]
You got to work your way up to that.
Got you.

[00:35:57]
Okay.
Yeah.

[00:35:58]
That is cool.

[00:35:59]
So typical people that are
jumping into your program.

[00:36:01]
Are they us based or
are they international?

[00:36:05]
Yes.
They’re mostly US based.

[00:36:07]
I’ve had guys in there from Brazil.

[00:36:10]
I’ve had a few people from Canada before,

[00:36:12]
and one guy from actually, we had one
or two guys from Germany in our group.

[00:36:19]
They’ve all graduated right now.

[00:36:21]
We have no international people in our
group except me,

[00:36:24]
but we have everyone in the United States,
and they’re just burning their deals.

[00:36:30]
They’re doing phenomenal.

[00:36:31]
It’s probably one of the joys in my life.

[00:36:33]
Honestly, there’s so much other
frustration and stress going on,

[00:36:36]
but that group that we have,
they’re so fired up because every day

[00:36:41]
people are posting their activity, what
they’re closing, what their challenges?

[00:36:46]
Are it’s on fire.

[00:36:48]
Like people are all excited.

[00:36:51]
Memes and Emojis are going.

[00:36:54]
It’s so fantastic because

[00:36:56]
they’re really encouraging each other
and celebrating with each other because

[00:37:00]
deals are closing every week
in our group all the time.

[00:37:03]
It’s so unique.
Yeah.

[00:37:05]
It’s a little unique thing that we’ve
really created, and I love it.

[00:37:10]
It’s helping people really creative.

[00:37:12]
For example, one of our members was

[00:37:14]
earning close to six figures
in one of their businesses.

[00:37:17]
She had a business close to six figures,
and she stopped the business.

[00:37:21]
She closed it this year,
not because of Covins.

[00:37:23]
She closed the business because she was

[00:37:25]
making more in real estate to replace
her income, surpassed her income.

[00:37:28]
And she’s like, forget it.

[00:37:30]
I don’t need to go do
that other business anymore.

[00:37:32]
I can work from home.
I can be with my family.

[00:37:34]
Yeah.
So that’s a really cool thing.

[00:37:36]
That’s super awesome.

[00:37:37]
And the majority of the deals
that these people are going through,

[00:37:43]
I guess.
Are they more virtual or things where

[00:37:45]
they’ve never seen the land
or never seen the property?

[00:37:47]
All virtual, all virtual, all virtual.

[00:37:52]
That is incredible.
Yeah.

[00:37:54]
I’m a big believer.

[00:37:55]
Lead by example.

[00:37:58]
If I’m doing it, then you
should be able to do it.

[00:38:00]
Right.
So, yeah, everybody in our group,

[00:38:02]
actually,
there probably is one or two that actually

[00:38:06]
they live in a certain
state and they invest.

[00:38:08]
Actually, I can think of one right now.

[00:38:09]
We got a guy named Corey who lives

[00:38:11]
in Utah, and he actually
invests in that market.

[00:38:16]
He’s starting with the land

[00:38:19]
and he’s already closed.

[00:38:20]
I think six deals in the past few months.
Yeah.

[00:38:23]
I would say probably within the past four

[00:38:25]
to five months or so,
and it’s only in his state.

[00:38:28]
He decided to stay in the state
because he knows it so well.

[00:38:31]
And then we have other people who, hey,

[00:38:33]
they live in North Carolina,
they invest in Florida.

[00:38:37]
They choose different States.

[00:38:40]
That is super cool.

[00:38:44]
What you could do with
technology these days.

[00:38:48]
It’s funny that you say all this
because I was just in my closing

[00:38:54]
Friday.

[00:38:55]
So a few days ago and I was amazed.

[00:39:00]
I was expecting them to say,
here are the documents for you to sign

[00:39:04]
over an email or some secure
portal or something like that.

[00:39:07]
But I’m like, no, here’s the schedule
closing at this title company.

[00:39:12]
We still do this.

[00:39:14]
We tend to sign stuff and have piles of
paper for everybody in the transaction.

[00:39:20]
It seems so archaic to me.

[00:39:24]
There’s a lot of title companies
that are still like that.

[00:39:28]
They’re not using any digital software.

[00:39:30]
And the truth of it is it’s not because

[00:39:32]
the county, it’s because the title
company hasn’t made a transition, too.

[00:39:36]
They’re business owners, too,

[00:39:37]
and they still have older
processes at the end of the day

[00:39:43]
because some counties allow complete
documentation, e signature.

[00:39:48]
But it’s the title company that doesn’t.

[00:39:50]
So yeah, they’re still out there, bud.

[00:39:53]
It was so interesting to me.

[00:39:54]
And you see what the title
company is making.

[00:39:57]
And I’m like, they’re kind of putting
together his dog and pony show.

[00:40:00]
It reminded me of when you go

[00:40:01]
to the doctor and they weigh
you and they check your height.

[00:40:04]
Yeah.
What would that number have to be

[00:40:06]
for my height to change where you’re like,
well, we have a problem.

[00:40:10]
We’re just going through motions here, so
I feel like I’m getting something right.

[00:40:16]
This is a waste of time.
Exactly.

[00:40:19]
Yeah.

[00:40:19]
So all our members, they do
everything remotely interesting.

[00:40:24]
Yeah.
They never have to go step on the land

[00:40:27]
unless they chose to, like,
if they really care to.

[00:40:30]
But, yeah, we teach them not to.
You don’t have to.

[00:40:33]
You can get everything online

[00:40:36]
after someone graduates from the program
after they closed their 25 deals,

[00:40:41]
depending on what vertical they go into.

[00:40:43]
So if they go into single family or multi
family, then we would say, okay,

[00:40:47]
now you’re into, let’s say,
commercial residents.

[00:40:49]
Let’s say they’re buying a ten unit
or a 20 unit complex of apartments.

[00:40:52]
Okay.
Yeah.

[00:40:53]
So you are going to go
look at the property.

[00:40:55]
So there’s a different dynamic there
sometimes either myself

[00:41:00]
or I have a coach and my team that will
fly out to the area and go walk

[00:41:05]
the property with them, like a multi
unit complex or something like that.

[00:41:08]
Show them what to look for,
give them that real life experience

[00:41:11]
of what pros and cons and things
to look out for along the line.

[00:41:14]
All right.
I want to talk to you about a couple more

[00:41:16]
things, and we’re burning time
here because a lot of information.

[00:41:20]
So thank you for that.

[00:41:21]
First thing I want to talk about is
other people’s money and the rich dad.

[00:41:25]
Poor dad thing.
He kind of dabbled in that.

[00:41:27]
But it wasn’t a clear checklist of what

[00:41:30]
to do for using other people’s money,
because a lot of these properties,

[00:41:32]
you’re talking a big nut,
especially down payment.

[00:41:36]
Coming up with that.

[00:41:39]
Is that something that you teach?

[00:41:40]
And I guess lowest hanging fruit was

[00:41:42]
the easiest way for people to get started
in that or just have their head around it.

[00:41:46]
Let’s start there.
Yeah.

[00:41:49]
It’s a great question, James,

[00:41:51]
and it’s something that I’ll
put it to you very simply.

[00:41:54]
When people come and start in real estate,

[00:41:56]
they start with the capital that they
have or they have access to.

[00:42:01]
However, if someone takes real estate
investing seriously and wants to build it

[00:42:05]
as a full time business
and just all they want to do.

[00:42:08]
The reality, James,

[00:42:09]
is if you had $10 million in your checking
account right now and you said I’m going

[00:42:13]
to do real estate full time,
you’re going to run out of $10 million.

[00:42:17]
You may go and buy a $5 million property

[00:42:20]
and then maybe a few hundred thousand
dollars, maybe $500,000 property.

[00:42:24]
You’re going to run out
of money no matter what.

[00:42:26]
It’s just inevitable, right.

[00:42:28]
Because you’re in the real estate

[00:42:29]
investing business,
and actually you should run out of money.

[00:42:32]
The idea is not to hold money.

[00:42:34]
The idea is to push money
into the economy, right?

[00:42:37]
Yeah.
That money grow into more money.

[00:42:39]
Exactly.

[00:42:41]
So what ends up happening to every
investor who’s getting to that point

[00:42:45]
of scale and growth is
they have to raise money.

[00:42:48]
There’s no way you’re going
to get to that point.

[00:42:50]
So I do teach people this, but it’s
a more one on one private basis, James.

[00:42:56]
Not to tout my own Horn
here or sit on the soapbox.

[00:43:00]
But I’ve raised millions
of dollars over the years.

[00:43:03]
Nice.
Yeah.

[00:43:05]
A good friend of mine.
His name is David Linda.

[00:43:07]
He owns over probably 9000 apartments now
and primarily like Texas and Alabama

[00:43:14]
and Georgia, the Southern States,
9000 apartments.

[00:43:17]
He’s raised over $400 million.

[00:43:20]
He taught me how to raise money.

[00:43:23]
And I had the pleasure of working
with him over the years.

[00:43:25]
And he’s just been a good friend.

[00:43:28]
And if it wasn’t for him,

[00:43:29]
I never would have probably raised
the money that I have or at least had

[00:43:32]
the mindset he gave me
that mindset of how to do it.

[00:43:36]
And that’s been really important.

[00:43:37]
So I wouldn’t recommend to anyone just
starting out to go raise money right away

[00:43:43]
because they don’t maybe have
the experience right off.

[00:43:47]
But I will say this in summary,

[00:43:49]
that at some point you got to learn
how to raise money for real estate.

[00:43:53]
And I do recommend
Robert Kiyaki’s book OPM.

[00:43:55]
It’s a great book.
Okay.

[00:43:57]
It really is

[00:44:02]
raising money and being responsible

[00:44:05]
for someone’s capital is not something
to take lightly, and you want to make them

[00:44:10]
a return on their money
and secured by real estate.

[00:44:12]
So there are certain things
you do have to be mindful for.

[00:44:16]
There are also SCC guidelines that you

[00:44:18]
have to be aware of and follow
depending on the structure of the deal.

[00:44:24]
But at the end of the day,
I would say with very simply in mind, yes,

[00:44:29]
you would eventually have
to raise money for deals.

[00:44:32]
I’ve done it.
I’ve done partnerships.

[00:44:34]
I’ve done 50 50 deals.

[00:44:35]
50 50 splits.

[00:44:37]
Yeah, I’ve done that before.
So nice.

[00:44:40]
Definitely needed as you grow
and scale your business.

[00:44:43]
All right.

[00:44:43]
The next thing I want
to ask you about is risk.

[00:44:46]
So to do a lot of these real estate
transactions, you’re talking about pretty

[00:44:49]
big numbers and a lot of people,
regardless of where that number is coming

[00:44:53]
from or how tangible it is,
because a lot of us just on paper,

[00:44:57]
especially virtually,
they just don’t necessarily have a stomach

[00:45:01]
for it to even wrap their
head around what’s happening.

[00:45:04]
So how do you help people get over that?

[00:45:07]
Either fear of risk or being too cautious,
like not understanding or maybe not

[00:45:13]
believing that a deal can be
that good for them kind of thing.

[00:45:16]
Yeah.
That’s a great question.

[00:45:19]
It’s actually your question leads up

[00:45:21]
to why I created the Fieldless Millionaire
brand in the first place.

[00:45:25]
I love the title.
It’s incredible.

[00:45:27]
Thanks.
Yeah.

[00:45:29]
I wish I could take the credit for it,

[00:45:30]
but I didn’t come up with a name,
but my good buddy, he’s a marketer.

[00:45:34]
His name is Ryan Dice.

[00:45:35]
He actually is the one.

[00:45:38]
I went to him and I said, hey,
I have this desire to help these investors

[00:45:43]
who I see over and over again at seminars,
and they still haven’t done a deal.

[00:45:49]
They’ve been at it for five years
or three years, whatever it is.

[00:45:53]
And it’s not about knowing
how to do real estate.

[00:45:56]
It’s not about the strategy.

[00:45:59]
It’s actually in the mind.

[00:46:01]
And a lot of people struggles with that.

[00:46:02]
A lot of people are maybe
afraid to look stupid.

[00:46:06]
Am I saying the right way?

[00:46:07]
Am I asking the right questions?

[00:46:09]
What happens if they say
no fear of rejection?

[00:46:12]
There’s so much that goes into that,
and you really have to learn.

[00:46:18]
It’s a skill set that is not taught

[00:46:20]
in school, and it’s a skill set that you
really have to learn along the way.

[00:46:25]
It’s like an apprenticeship
type of position.

[00:46:27]
You have to learn how to handle sellers
and buyers and raising capital.

[00:46:32]
That’s not an easy feat for a lot
of people, unless you already have tough

[00:46:35]
skin, because it does
come with its challenges.

[00:46:38]
Right.
All right.

[00:46:40]
So that’s not a rare thing.

[00:46:42]
I imagine most people that come to you

[00:46:44]
have a little bit of apprehension,
or maybe they have a spouse.

[00:46:47]
That’s a little.

[00:46:51]
Yeah.
James, I would say everybody that comes

[00:46:54]
to me for help in this area,
they are in some way hesitant or something

[00:47:00]
mentally is stopping them,
and that’s because of the brand.

[00:47:03]
The brand puts it out there,

[00:47:04]
like if you’re having roadblocks mentally
and you’re stuck and you’re just having

[00:47:10]
this fog of how to actually
close your first deal.

[00:47:12]
The message is out there for that.

[00:47:14]
So those types of people will be attracted

[00:47:16]
to me, and that’s the people
I really like to help.

[00:47:20]
I have helped other investors who do much
bigger deals, and they’ll have me look

[00:47:25]
at their deal, and it’s like, thanks,
Nate, and they’re on their way.

[00:47:29]
But there is so much more fulfillment

[00:47:32]
for me personally when I can help someone
get out of their other business and do

[00:47:37]
this full time, there’s such a joy
in it where I see an email come in.

[00:47:42]
That is Nathan, thank you so much for your
dedication to the group and coaching me

[00:47:47]
throughout this process because
you’ve changed my life.

[00:47:51]
Basically, what we’re doing here is
we’re creating investors for life.

[00:47:54]
This is not a job.
This is a business

[00:47:58]
that’s creating not just income.

[00:48:01]
That’s creating financial freedom.

[00:48:03]
And that’s the beautiful part.
That’s why I do it.

[00:48:05]
It’s literally helping people create

[00:48:07]
financial freedom for themselves, being in
the number one asset class in the world.

[00:48:11]
And that’s real estate.

[00:48:13]
Yeah, that’s super cool.

[00:48:14]
That’s the name of the game and business.
It’s so interesting.

[00:48:17]
When I’m teaching my business planning

[00:48:19]
classes, I ask people what’s the one
reason why you’d start your own business?

[00:48:23]
And the word freedom comes up all
the time, and you have people who are

[00:48:27]
like, I’m going to start this retail
company selling these little gifts or

[00:48:30]
trinkets or whatever they’re
interested in, which is fine.

[00:48:33]
Super cool.

[00:48:34]
Then you ask them great,
how many employees are going to have.

[00:48:36]
And they’re like, I don’t
want to deal with employees.

[00:48:39]
You’re building your own prison.
Yeah.

[00:48:42]
Freedom at all.
That’s the opposite of

[00:48:45]
how much money you’re going to make if
you’re stuck in this retail store forever.

[00:48:49]
That’s the opposite of your goal.

[00:48:51]
So you may not forget that kind of stuff.

[00:48:54]
So it’s interesting that with real estate,
I think that’s a huge attractant is you

[00:49:00]
can make some money and you’re not
necessarily shackled to a given time or

[00:49:04]
even a given location,
which is incredible.

[00:49:07]
Yeah, definitely the way
I teach all our members.

[00:49:11]
We teach them only virtual real estate
in the beginning and then down the line.

[00:49:15]
If they want to go into something more
commercial, then we’ll make flights out

[00:49:19]
to the location and walk the property
with them, because that’s a little bit

[00:49:23]
more intense, but, yeah,
we teach everybody to start virtually work

[00:49:25]
from home, make a full time
income from doing this.

[00:49:29]
That’s cool.
That’s super cool.

[00:49:31]
I want to ask you a question that I would
assume is fairly common with people

[00:49:36]
that are in industries
like yours out of every.

[00:49:38]
Let’s say, 100 people that sign up

[00:49:40]
for something like yours to get this help,
how many people will just fall off the bus

[00:49:44]
because they’re scared or they’re just
don’t blame whatever for whatever reason.

[00:49:51]
So true.
That’s a very true thing.

[00:49:52]
And that’s actually one of the reasons
why, many years ago,

[00:49:55]
and growing up with my ex father in law
who kind of got me into this industry,

[00:50:00]
I decided ten years ago in my consultancy
business not to sell a course.

[00:50:05]
Okay.

[00:50:06]
There are many people out there who sell
courses, and that’s all they do.

[00:50:10]
They’re in the business of selling.

[00:50:11]
Here’s the training, it’s $2,000.

[00:50:13]
And there you go.

[00:50:15]
And that’s all they do in business,
education, business.

[00:50:19]
I decided not to do that.

[00:50:21]
Actually, all the training

[00:50:22]
and the modules, all the content,
the contracts we give away for free.

[00:50:26]
We have a members area.

[00:50:28]
They go through step by step, video
by video contracts and everything there.

[00:50:33]
But we give all that for free.

[00:50:35]
When someone in our coaching program,

[00:50:39]
it has to be a life transformation.

[00:50:41]
It’s not just, hey, go DYI yourself
in a course and be to yourself.

[00:50:48]
I don’t think that approach works very
well, and the success rate is very low.

[00:50:53]
Interesting.
Okay.

[00:50:58]
And the way to prove that is

[00:51:01]
most people buy books that they don’t

[00:51:02]
read, they buy titles
and they buy, oh, my gosh.

[00:51:07]
I’ve given my book away looking
for reviews and stuff like

[00:51:10]
that to friends, and they’re like,
Wait, I don’t read.

[00:51:14]
Yeah, most people don’t
read the books they buy.

[00:51:18]
And that can happen with courses as well.

[00:51:21]
Like, it sounds good in the moment.

[00:51:22]
But then you never really get.

[00:51:24]
And I’ve done the same thing.

[00:51:25]
So we decided ten years
ago not to do that.

[00:51:28]
And what we do is we immerse the person

[00:51:31]
into the mindset, into the group, and then
that ongoing coaching and action.

[00:51:38]
We meet every week for an activity update.

[00:51:41]
That means we go around the room

[00:51:44]
and everybody gets shares,
their activity and what they’ve done

[00:51:47]
with their challenges, what they’re
closing on, what their profit is.

[00:51:52]
Everybody gets a real sense of victory.
That way.

[00:51:55]
I find that model has been really
helpful to us and to our clients.

[00:52:01]
Happily, we have more of a less
unsuccessful rate.

[00:52:06]
I’ve never really calculated the numbers,
but I remember the names.

[00:52:09]
I remember the names, names.

[00:52:11]
I remember the names of the
people who have given up.

[00:52:13]
Okay.

[00:52:13]
I remember the names
of the people who said, Nathan,

[00:52:18]
maybe this just isn’t for me.

[00:52:20]
I’ve got to stop doing this,
and I remember the names.

[00:52:23]
I don’t remember them as a percentage,

[00:52:25]
and it’s unfortunate,
but it’s not their thing.

[00:52:29]
The good thing.
What I know is we have more people

[00:52:32]
successful in doing deals than we have
those of maybe dropping out and giving up.

[00:52:37]
Yeah, I can see even in the business

[00:52:39]
planning classes that I would
teach way back precoded

[00:52:44]
if we had half the class drop
out or only half the class.

[00:52:48]
It was considered a good day.

[00:52:50]
And that was just one planning.

[00:52:52]
Forget about actually
the creation of the business.

[00:52:54]
Wow.
Sometimes people just saw.

[00:52:56]
I mean, usually you could tell by the
first, it was an eight week course.

[00:53:01]
And by week two into three,

[00:53:04]
you could tell the people that were
driven are going to make it.

[00:53:08]
And the other.

[00:53:10]
You want me to figure out how I’m going
to make money in this business, right?

[00:53:14]
In this business that I’m creating?
Whoa.

[00:53:17]
Yeah.

[00:53:18]
So it’s interesting if you’re willing

[00:53:20]
to do the work,
then you can get the success. But if

[00:53:23]
you’re not willing to do the work,
what are you doing here?

[00:53:27]
That’s it.

[00:53:28]
I mean, at the end of the day
because we can’t control.

[00:53:30]
Unfortunately, I can’t
control someone’s work ethic.

[00:53:33]
I can’t force people.

[00:53:35]
But what I realized is when, for example,
there are people in our group who are

[00:53:40]
closing a deal a week, and that inspires
the person that is just starting.

[00:53:48]
But the person that may have closed
a few deals could see to push forward.

[00:53:52]
So it’s not Nathan saying, yeah.

[00:53:55]
Well, I just closed 26 apartments and all

[00:53:58]
this stuff, and I just got
another deal this week.

[00:54:01]
I closed three deals and closing
three deals on Friday.

[00:54:03]
It’s not Nathan coming from Nathan,

[00:54:05]
the authority figure who got
you here in the first place.

[00:54:08]
It’s actually other members who are
sharing their real results.

[00:54:14]
That’s inspiring to them.

[00:54:16]
That’s inspiring to the people
who are just getting started.

[00:54:18]
Like knowing there’s other people like
them that can their struggles, too.

[00:54:21]
And they can build up differences.

[00:54:23]
Also, that’s awesome.

[00:54:25]
That’s super cool.

[00:54:26]
We’re running out of time here, Nathan.

[00:54:28]
So how can people find you?

[00:54:30]
Sure, they could easily do a Google
search for Fearless Millionaire.

[00:54:34]
They’ll come up to our YouTube channel, I got a
YouTube channel, but also the website.

[00:54:38]
The website is where they can learn more.

[00:54:40]
Fearless-millionaire.com

[00:54:42]
Fearless-millionaire.com.

[00:54:45]
They can go there. A bunch of resources on there.

[00:54:47]
But again, we don’t sell any courses.

[00:54:49]
So if someone is interested in getting

[00:54:51]
started real estate,
they can expect to speak to one of my team

[00:54:53]
members and see if it’s
a good fit for them.

[00:54:55]
Nice.
That’s super cool.

[00:54:57]
I’m excited just to share this with
World One and the whole real estate game.

[00:55:03]
It’s fun.

[00:55:04]
Congratulations on your deal.

[00:55:06]
You just closed one on Friday.
That’s awesome.

[00:55:07]
Great.

[00:55:08]
Yeah, it’s funny, because every
time I do one, I learn something.

[00:55:13]
And usually it’s me learning
that I don’t like brokers.

[00:55:19]
Sorry.
Yeah.

[00:55:20]
Whatever.
Interesting.

[00:55:23]
But in the end, it’s cool.

[00:55:24]
It’s exciting.
It’s fun.

[00:55:26]
It’s not a nine to five thing.

[00:55:29]
It’s more.
I don’t know.

[00:55:31]
You feel like there’s more of a no
limits, which is attracting.

[00:55:36]
Well, I think you’re
doing the right thing.

[00:55:37]
I mean, you obviously have your primary

[00:55:39]
business, and then you’re taking building
up your asset class with real estate.

[00:55:43]
And that’s just a solid
time and time again.

[00:55:46]
It’s a solid investment.
Yeah.

[00:55:48]
I had a guy.

[00:55:48]
I sold a motorcycle, too,
and he pulled in and he had this fancy

[00:55:53]
truck, fancy trailer,
buying a motorcycle for his kid.

[00:55:59]
And it was like, way overkill
for picking up his motorcycle.

[00:56:05]
And I’m like,
this is cool little set up you got here.

[00:56:08]
And he’s like,

[00:56:10]
it was like he skipped about 20 minutes
of conversation,

[00:56:13]
and he said the best advice I ever got was
to have at least eight sources of income.

[00:56:21]
All right.

[00:56:23]
And it was interesting because I was

[00:56:25]
thinking about it, and I was like,
we chatted a little bit after that.

[00:56:28]
But it was funny how
he almost knew from business mindset what

[00:56:32]
I was asking him, which I
didn’t mean to be asking.

[00:56:34]
That was just really impressive.
The trailer was cool set up.

[00:56:37]
Yeah.
Way cool setup.

[00:56:39]
But he’s like, I got bank because
I prepared myself and took the steps

[00:56:44]
necessary to be able to have
bank and this freedom.

[00:56:47]
I don’t know.

[00:56:47]
You probably drove 6 hours
to pick up that motorcycle.

[00:56:50]
Wow.
It’s huge.

[00:56:52]
And you could sleep in that thing.

[00:56:54]
It was beautiful,

[00:56:56]
but it’s kind of funny because it was one
of those like, you don’t want to put all

[00:56:59]
your eggs in one basket kind of thing
because you have diversity in your revenue

[00:57:04]
because who knows what the market’s
going to do in a given area?

[00:57:07]
There’s a lot of companies 2008,
they took a dive.

[00:57:11]
That’s very true.
Yeah.

[00:57:12]
There’s a lot of risky
investments out there.

[00:57:15]
I mean, one of the riskiest right now,

[00:57:16]
which is highly talked about
and hyped about is cryptocurrency.

[00:57:19]
Oh, my God.

[00:57:21]
There’s a lot of but it’s new
and it’s really catching on,

[00:57:27]
but it’s not as secure as real estate.

[00:57:29]
Real estate is a little slower,
but it’s still a valuable thing.

[00:57:34]
And there’s also equities.

[00:57:35]
I mean, people still day trading
and stocks and all that.

[00:57:39]
So there’s even that area, too.

[00:57:41]
The most important thing is just
being invested is really important.

[00:57:44]
Just being investing and taking
the risks and investing is important.

[00:57:48]
Yeah.

[00:57:49]
Not exclusively trading
time for money, I guess.

[00:57:52]
Correct.
It’s a big takeaway, right?

[00:57:55]
Absolutely.
Yeah.

[00:57:56]
Everybody’s got the same amount of time.

[00:57:58]
So true.

[00:58:00]
That’s the way it goes.
Right.

[00:58:02]
This has been awesome
Nathan, thank you so much for your time.

[00:58:04]
Yeah.
Thank you so much.

[00:58:06]
It’s been great.
This has been Authentic

[00:58:08]
Business Adventures, the business program
that brings you the struggles, stories, and

[00:58:12]
triumphant successes of business owners across the land.

[00:58:14]
We are underwritten locally
by the Bank of Sun Prairie.

[00:58:16]
If you’re listening or watching this
on the web, which I’m sure you are,

[00:58:20]
if you could do us a huge favor,
give a thumbs up, comment, subscribe, and

[00:58:24]
of course, share this with your
entrepreneurial friends, as well as those

[00:58:27]
that are looking to get into the real
estate game because it’s so much fun.

[00:58:32]
Plus, you can make some bank on it.

[00:58:33]
So that’s cool.

[00:58:34]
My name is James Kademan,

[00:58:36]
and Authentic Business Adventures is
brought to you by Calls on Call,

[00:58:39]
offering call answering and reception
of services for service

[00:58:42]
businesses across the country
on the web at callsoncall.com

[00:58:47]
As well as,

[00:58:49]
Draw In Customers Business Coaching offering business coaching services

[00:58:51]
for entrepreneurs looking for growth
on the web at drawincustomers.com.

[00:58:57]
And of course, The Bold Business Book, a book for

[00:58:57]
the entrepreneur in all of us available
wherever fine books are sold.

[00:59:01]
We like to thank you,

[00:59:02]
our wonderful listeners as well as our
guest, Nathaniel Amaral,

[00:59:05]
the international real estate investor,
also known as the Fearless Millionaire.

[00:59:09]
Nathan, can you tell us
that website one more time?

[00:59:12]
Yeah.
It’s fearless-millionaire.com

[00:59:16]
Perfect.
I love it.

[00:59:17]
Past episodes can be found morning, noon,

[00:59:19]
and night. Podcast link found at
drawincustomers.com.

[00:59:22]
Thank you for listening.
We will see you next week.

[00:59:24]
I want you to stay awesome.

[00:59:25]
And if you do nothing else,
enjoy your business.