Welcome to the Discount Property Investor Podcast Episode Number 1. In this episode your hosts David Dodge and Mike Slane are joined by their business Partners Ray Bartle and Bill Maret to discuss the formation of The Discount Property Investor and the House Sold Easy brand.
The Discount Property Investor is the coaching and sales arm of the House Sold Easy Properties Franchise. For information about purchasing a franchise please contact us at [email protected] To keep up to date on all things related to the real estate be sure to Like and Subscribe to The Discount Property Investor and House Sold Easy on iTunes and YouTube.
Be sure to visit The Discount Property Investor online at https://www.DiscountPropertyInvestor.com to see our current inventory as well as find more info about The Discount Property Investor Podcast. Like and follow us on Facebook and LinkedIn or reach out to Mike and Dave at [email protected]
Welcome to the discount property investor podcast, where we show you how to buy real estate at a discount, so you can create wealth over time and income today. Our mission is to share what we have learned from the experience of others and help you make more money investing like a pro. We want to teach you how to create wealth by investing in real estate the discount investor way. Thanks for tuning in.
Mike: Welcome to the discount property investor. My name is Mike Slane and we are the discount property investors. I am joined with David Dodge, Bill and Ray. We are the discount property investors.
Today we are going to give you a brief summary of who we are and a little bit about our company and our goals for -- helping you guys. So Dave do you want to get started?
David: Yeah absolutely. So -- don’t forget to check us out at discountpropertyinvestor.com, all of our deals are located on that website. If you are interested in investing in the St Louis area, you can subscribe to our buyers list at discountpropertyinvestor.com in the top right hand corner there is a button to subscribe to our buyers list. If you are local, or if you live out of State you are welcome to opt in and receive our e-mails, and also don’t forget to check out freewholesalecourse.com where we have a ton of information and -- content put out there for free for you to go and learn a little bit about wholesaling. Ok so, I am going to introduce myself, when we can work our way around the table here.
So my name is David Dodge, I will be one of the hosts of the podcast; I have been investing in real estate for -- approximately nine years. Very passively up to a year and a half ago -- as of the current day I have 13 rentals -- and I was buying rentals off of the MLS at retail price. For the last night years, up to a year and a half ago I decided to do real estate full time and -- since then I have been wholesaling and I haven’t bought property retail for a year in a half. So I am very excited about that. Wholesaling to me is a great way to make quick money, but it is also a means to an end to cherry pick the deals that I want to take down and personally rehab to add to my portfolio. So -- with that being said, I have a little bit of a real estate experience going back nine years, but again very, very passively up to a year and a half ago and -- I have been doing real estate full time ever since. Mike?
Mike: So my name is Mike Slane, I will also be the co-host of the discount investor. My background in real estate started in -- 2009, I guess that is the first time I purchased a property. I read rich dad, poor dad prior to that, and I always knew I wanted to get into real estate but didn’t know how. So I purchased a four family apartment building as my first home, moved into one of the units and I was the landlord on duty. I quickly learned that I do not want to be a property manager. So -- that is no longer that I do. I have a property manager who manages my rentals for me. Again, because it is not something I want to do, I don’t mean that I don’t want that freedom that real estate can provide; I am still actively buying rentals. But they are not something I want to have the hands one experience with. About three years ago, I was working as an underwriter in life insurance and I was just tired and said, you know what? I have paid off most of my dept that I have. I have enough rental income to support me for rainy day activities, so I quit. It was basically my retirement day -- but again I wasn’t living a luxurious lifestyle, just enough money to pay my bills. So I started wholesaling, I didn’t do a deal for the first six months. Just dove in headfirst, eventually started figuring it, one things led to another and -- as I have been doing it I have networked with some great guys and -- now we are really starting to do it so. That's kind of a little bit about me. Bill?
Bill: Well said Michael, thank you. Well my name is Bill I’m the elder statesman of this lovely group. as I am so -- You have heard from the young guys so I will just give you my background. Basically I was a 25 year cooperate guy -- doing cooperate sales, business development in the high tech world. Made a high income had a lot of fun, lot of stress over the years and kind of got the cooperate burn out. When you get over 50 in the cooperate world -- life changes a little bit. So much like Mike just said, my epiphany was reading rich dad poor dad about ten years ago right before the crash and realised I had to find a way out of the IBM Microsofts of the world and into my passion which was actually buying and selling real estate. Been doing it part time for about ten years. Started buying a few things around 2006/7 with the crash of 2008 it really accelerated my interest in owning -- getting a passive income. I'm known as Mr Landlord, Mr passive income guy.
So I do -- was able to quit my job in four years. That was a six figures plus job just on my rental properties and doing the occasional flip. So my background was not and is not in wholesaling, however I was a pretty big consumer of the products these guys provided, all three of them. So my idea as a business guy was bringing in some of the smartest and brightest wholesalers in St Louis and actually in the whole country quite frankly. Bring the experts together in a mastermind office where we can actually have fun and make a lot of deals for people on the wholesale side. So -- our focus is 100% on buying properties, making those properties available to good investors and landlords. The process I am learning a lot about wholesaling, it is a lot of work but a lot of fun. These guys have helped us, coming together as a pretty powerful and progressive business people. So I think we are more a real estate investment company, with the focus being discount property investors as doing the wholesaling piece. So we will eventually buy whole properties and do that stuff individually. But as this purpose for this audience we are going to teach you a lot about how to make money, starting out as a rookie, all the way to being a more advanced guy like -- you will meet Ray here in a minute. But anyways that’s kind of my background, I am 25 years cooperate, 8 years part time, I quit my job about three years ago, I have not looked back, not had to dip into in my savings much thanks to what I am learning about real estate. I am also a full time coach and mentor for -- a shameless plug to the Southside investment club here in St Louis. Awesome group of real estate investors -- about 2500 right?
Bill: 3000 so, I am also a coach and mentor along with this guy for the group called the inner circle which are a group of 140 of us, who are super charged and have invested money to be learning, coaching and networking with likeminded wholesalers, rehabbers and landlords. So I am known as Mr Landlord, Mr passive income and I do business planning for new investors. It is also a great place to work with new buyers and new sellers. So collectively we have a pretty good plan. I think we have some things that will help you guys go through the sessions.
Ray: My name is Ray my previous life, I too was in a cooperate life for about 20 years. My background is in the technology field. I was one of the dot comers of the 90s, everything was going great then suddenly all the money dried up for technology companies. I actually worked for for 15 years which is now ATMT. When I had that full time job I did everything from operations to sales & marketing. But -- as a part time deal I started buying like lots. Let’s say a builder would have 100 lots and he has 90-95 houses that he completed and he wanted to move onto the next project. I would buy the last three to five lots and pretty much put the money up to buy new houses. That's how I got started and it was pretty good part time money. I left in '96, started with a company called Critical Technologies, had 12 partners in the technology field. We sold in '96 -- 12 partners and we had to stay three years, so as a technology field to run into 2000. In 2000 I got tired of laying off all my buddies that I brought to cooperate America to try and start up a technology field -- the funding continued to dry up. In the year 2000 I decided to go full time real estate which was a part time thing at the time. What I discovered through -- when I started in real estate the big thing to do was marketing going. Because what would happen to me is I would do marketing, get a house, rehab it, and then we would put it on the market, sell it and guess what? We had to start over marketing trying to find another house. I quickly realised if you got the marketing machine going, it's like a train. You pull a train, if you stop it, you have to get going again. That's pretty much how I got into wholesaling. I realised I have to keep marketing, keep marketing, keep marketing. But my family could only do two or three rehabs at a time. So what I continued to do -- I started wholesaling. I can get something on contract -- I can’t find someone like myself who wants to rehab it, make a few thousand bucks and keep moving on. Just pretty much cherry pick the ones that I want to rehab as timing happened. Maybe it took us six months to do a project; I would wholesale three, four, five houses in that mean time. When I needed new projects I would get that one.
Like Bill said, I am also an inner circle coach; I am one of the founding members of south side investment club, ten years ago with Nick Bower. We have gone to 3000 people online. In part of our meetings we have maybe 100/150 people which show up. Many people new trying to get into real estate. As far as coaching, I am wholesale coach for Southside investment club -- Bill and I have about 140 people in the group. It is just great and the office we started here is -- when you are wholesaler and in real estate, there is a lot of time where you are by yourself. The beauty of bringing these four guys together is that we are all pitching for each other, we all have different areas of expertise, and it's not like you are on your own. I don’t know how many times -- when you are doing marketing all day and you are sitting in the basement and you haven’t seen anybody all day -- the beauty of this is we have an office, and we invite people in that -- maybe somebody we are working with who needs to drop in for an hour because they are getting tired of going to [00:11:08.06 - inaudible] or maybe they have a house that they want to get sold, they want to wholesale with us so we do co-wholesaling to. I know you guys will get through that letscowholesale.com as our site we have for other wholesalers. David and Mike is going to run you through all the wholesaling opportunities we have at discount property investor, it's a great thing. We are going to take St Louis over -- with us four we have a lot of people in St Louis that we know doing the business a long, long, long time. So we have the experience, we have the sales and marketing behinds us, and we have the products that we are building in the back office right now that’s going to take us to the next level.
So that’s pretty much who I am. I am really excited to be part of the group and every day I catch myself and say, wow I actually got an office to go to now, that’s a plus part. Flipper Frank? So that's us.
Mike: We got a good amount of experience individually and collectively when we come together in about six months or so into the discount property investor -- basically as a company and -- I think we are all really excited about it I think we have a lot of enthusiasm towards our work day to day than we used to have.
** All agree**
Bill: Well with you guys doing the wholesaling I don’t have to work as hard.
** All laugh and talk over each other**
David: Check us out online folks at thediscountpropertyinvestor.com, if you are looking to subscribe to our e-mail list on the homepage on the top right hand corner there is a button that says subscribe. You can opt in there; you can even select different areas if you are interested in the St Louis market where you can invest. And of course you can check out the freewholesalecourse.com. We have a ton of information up there, it's free and -- it is going to be walking you though the 101s of wholesaling, how to start wholesaling, what it takes to wholesale -- and how you can get started today, ok? So -- that’s pretty much the introduction of who we are. We are the discount property investors -- and Mike, do you want to close us out with a quote?
Mike: Sure. "Remember guys you make your money when you buy, you get paid when you sell." Please join us for episode two.