Master Your Niche And Tips To Scale

On episode four of The Wholster Real Estate Wholesaling Podcast, we talk with investor 'Swiss Army Knife' Travis Lauchman about his journey from W2 to full time real estate agent and investor. He provides tips on getting out of the rat race, providing value, scaling your business and so much more!

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Transcript

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All right, everybody.

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Welcome to episode four of the Wholster Real Estate Wholesaling Podcast.

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We are here today with a great friend of mine, just a fantastic human.

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Travis Lauchman of Lauchman Real Estate.

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How are you, Travis?

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Doing wonderful, sir.

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Thank you for having me on. You're looking good.

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I like the beard.

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Thank you.

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Thank you.

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This new addition, my wife gave me the pass.

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She gave you the pass?

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*laughter* Just like Yo that's the Max length.

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Don’t go beyond that, and we’re good.

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Yeah, that's.

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Yeah, thats good. It’s getting cold, you gotta keep it warm.

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You know, you can get dry.

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I've heard all these health benefits,

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and I’m in man, I’m all in, and frankly, I'm

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a little lazy when it comes to hair care. Okay.

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Yeah, me too.

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This is my way of getting away with it.

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Well, I'm jealous because I wish I could grow a beard.

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All I can do as this little goatee

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It looks good The rest of it doesn't come in too well.

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But, hey, thanks for coming out, man.

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It's. It's going to be exciting to talk to you.

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I know we've been gosh, we probably talk

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a couple of times a week about real estate and

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it to get you on here and pass on our

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you know, fun conversations to others, I think is going to be a good time so.

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Right on man.

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And it is a pleasure.

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Plus, we have we have both active transactions

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and we have just kind of day to day, you know, future investment stuff

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we chat about. So, yeah, all sorts of plans. Yeah.

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So to give a little background to guys, Travis is a real estate investor.

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He is a real estate agent.

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We've worked together on a lot of projects.

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We've done some wholesaling together.

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He does some project management for me.

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He sells a lot of my projects and he does a ton of stuff on his own.

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He's is very, very much in the real estate investment world.

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So tons of knowledge

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coming out of this guy for sure.

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I appreciate that.

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Tons, tons of people to thank you all along the way.

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And as I got started in going and

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you know, maybe I can relay how that that whole journey began.

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Briefly.

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Let's hear about how you got started and where you're at today.

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Cool. Cool, man. So,

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you know, the way I was

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in, I was working in finance for a solar energy company.

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I moved to Baltimore City from, like, D.C.

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and because my wife was going to Towson to become a teacher.

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Okay, So that's that was the catalyst to moving up to Baltimore.

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And, um, when I was working

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in that company, it was became a big company.

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They publicly traded and it was a lot of desk hours

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and like there was kind of a corporate path,

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but I just realized it wasn't for me like trying to climb the ladder.

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I just you know, you could anyone

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I think you can do it with enough effort, but I just didn't.

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I kind of lost interest in doing it after putting in, you know,

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a couple of years of a ton of hours A common story for real estate investors.

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Right.

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And like, I don't I'm not one of those people that have like issues

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with authority.

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So it wasn’t like because I needed it done my way.

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It was just like this this if you if you look for

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in 25 years, is this like where you want your life to go?

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And I just was getting so bored sitting and the solar people are awesome.

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Like I love them and I love that industry.

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I just that specific role didn't fit wasn't, wasn't great for me.

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So anyway, I come to know Charm City Builders Local

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developer here well-known well-marketed

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was starting a renovation

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on a house next door to me where I was renting in Federal Hill

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and at that time I had just started getting into like bigger pockets

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and Rich dad, poor dad, and kind of the the, the basic journey

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of real estate information and getting the wheels churning

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as far as like what could be possible if we developed

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income on our own and like, can we do this? And

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Tyler Banks in Brooke Kaine

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at that time owned that company, both of whom I know you know

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as well.

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Talked to Brooke this morning actually.

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There you go, and so they had a really cool article

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right up in the Baltimore Sun and I was I these guys are so legit

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I can't believe they're doing the house next door to me.

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Let me just throw my name in the hat and just see like,

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if they're willing to allow me to shadow work for free, whatever.

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So I wrote up this, you know, well-crafted, email it to them,

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and I was just

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basically a cold email saying, Hey, I'm really interested in real estate.

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Here's what I've done in the past.

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I don't know if there's any opportunities with you guys,

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but I'd love to learn anything and help in any way I can.

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And I'm happy to do it for free.

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Yeah.

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So that's kind of they, it happened to be the case

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that they were looking to process and build some systems and,

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you know, after they said yes, they responded.

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We met and it was really

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we kind of all hit it off together, those first couple meetings.

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And then maybe a few months later

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after that trial phase, which was good for, I think both parties

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there at that time,

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they were like, Hey, just like whenever you're ready, you can come work for us.

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And and so that ended up being my first foray

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and it was amazing, like to learn from two seasoned investors,

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both of whom I respect tremendously,

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and then two guys who are willing to share, you know,

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so much information with you, very selfless guys and dudes

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who like have have been through a lot of ups and downs in their careers.

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And for someone like me who doesn't inherently take risks so beneficial,

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right, to like see it happening and unfolding in front of you and learn.

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And then as the time comes, like grow and grow

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more confidence and then finally be willing to take those risks yourself.

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Yeah, exactly.

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And I'm thinking eventually you worked yourself into a paying position.

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Yeah.

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Yeah.

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So I was I joined them as like a W-2 employee.

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And I think in the very beginning of 2014

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and worked in that capacity

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as sort of like a director of sales and acquisitions,

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but really kind of doing all sorts of different things.

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And I liked being a Swiss Army knife because I got to learn so many

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spots in the business, like between construction

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and I was doing like Historic Chap credits a local Baltimore thing

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for historic homes and,

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and then I got picked up the real estate license with the idea that, hey,

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if we sell the stuff that we're building, you know, or own,

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we don't need to, we don't need to pay another agent two and

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a half percent each time, like I can do it in house for a much smaller fee,

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almost build it into the salary, whatever it was.

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So that was just something that happened organically and affiliated

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with a brokerage locally called Cummings, Cummings and Co Realtors.

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Dave Cummings is the owner of that.

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And again, just a through of the network, the limited network I had,

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he was someone I was told, hey, speak with this guy

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and what a great thing that's been too man.

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Dave is just such a wonderful guy, very sharp.

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And the way that he has his business model,

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it's not like a hands on, like a Keller Williams or one of these big brokerages.

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It's just kind of run your own show and I'm here for support,

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and they've got like just a great team agents there now.

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And they've grown like man tremendously even, in five years.

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Yeah, they have exploded. That's wild, man.

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Yeah. So, so cool to see.

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I think there's 600 ish agents there now.

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That's, that's huge.

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Good for them. Yeah.

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Yeah. He, they're doing great.

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And I think like maybe the number one

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market share in the city and maybe two in the county, they're like

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constantly vying for one and two now, which is pretty impressive.

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Given that it's like a boutique shop.

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That's really great. Good for them.

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So you, you managed to get yourself into a position

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where you could learn a ton, basically get paid to do it.

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Yeah.

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Yeah, man.

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And, you know, I think that that's

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absolutely the case and that's kind of how it turned out.

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And of course, the flip side of that is I'm also obviously

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sacrificing the time, too, right, like anything they wanted me to do.

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I'm jumping on it. Yeah.

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So I think that approach worked well for me

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because we were both sides were willing to play ball,

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they were willing to share information and I was willing to do whatever was asked.

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Soak it up like a sponge, do it all.

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Yeah, do it all.

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And got to meet a lot of good contractors, like people on the way,

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wholesalers who ultimately,

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you know, just through interactions and

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and deciding how to be once we’re in business.

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Well those things can carry forward so like the way you approach

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people in any position wherever you are,

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I think it's critical to consider how you want to build relationships

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because then again,

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they may come around in a year or two and you want them to remember

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those interactions being positive, ideally, or at least

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if nothing else, fair, right?

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Like, right, Like honorable and fair, right?

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Yeah.

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No, I think that's that's really great that you're able to do that.

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And a lot of people have asked me, how do I get into this business?

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I got a job.

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I don't I don't really like I want to get into real estate.

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I don't know how to do it.

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And what you've done isn't necessarily easy,

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but you put yourself out there, right?

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You looked for the opportunity

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where you could get into the business and make some money,

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but learn a ton from people that are experienced.

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And I think

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that's a really, really good way to do it.

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I know, guys that have been like, Hey,

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I'm going to come work for you just like you did, and I'm going to do it for free,

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and I'm just going to figure out how to provide the value.

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And sometimes you can just create that position for yourself,

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and it's just such a wonderful way to get into the business and start learning it

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in a way that you can get paid and leave your

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your corporate job that you probably don't like in the first place.

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And then

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the next step is, okay,

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what?

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How can I take this piece?

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Take what I've learned, the relationships I've built, and start

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moving that into something that can then

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replace that income?

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Totally. Totally.

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And and, you know, one quick last note I’ll mention

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about that, just because I think it's relevant

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for people who are considering it, it was like a lot of folks

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and I think some of my family members included

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when I mentioned I was even considering this,

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they were like, Don't do it, don't do it.

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You don’t want to do it And I remember when I was telling

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like I had a good relationship with the people I was working with

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in the previous company.

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Yeah, that the lady was like, Are you sure?

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Like, that's a really small company, like you, you do you know what you're doing.

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And it definitely took some courage. And

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I had like, I think I had

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my first kid was like,

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we were expecting our first kid.

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And I was like, Man, I'm taking a step backwards from a salary standpoint.

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But like, enjoy, you know that as far as how much fun

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that I think this could be and the future rewards like it became worth it.

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And my mind went to, if I don't do it now like it's not it's not happening.

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It's like I have this kid.

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It gets that much harder.

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You know, you want stability.

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And anyway, I just wanted to mention that for people who may be thinking about it

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That’s a great point,

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it takes a lot of courage and you're going to get a lot of naysayers.

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For sure.

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For sure. For sure. Yeah.

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And if we didn’t, we would be in the same spot as like,

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you know, the general rest of the population.

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And again, there's nothing wrong with choosing that.

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But if you don't, if you don't want it,

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then you have to have the courage to choose something else. Right.

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And go for it. And give it a shot. Exactly.

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So, let's pick up there.

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So you've been working for Charm City for a bit,

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and what was the next step for you?

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So yeah, learned a ton.

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Got to experience that like so many different

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facets of real estate through

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just my interaction with Charm City, which at that time they were flipping 30

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to 40 houses like full gut renovations a year.

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Generally in the harbor neighborhoods of Baltimore, Fells

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Point, Federal Hill, Canton.

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And then

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we started realizing.

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So we were kind of coming up as a construction squad

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and started realizing, Hey, this marketing thing we're pretty good at.

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And Tyler Banks is a naturally

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gifted marketer and just has like a mindset that is

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constantly marketing and like really good with building relationships.

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And so that was his strength.

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And you realize I think construction wasn't his favorite thing to deal with.

00;14;26;29 - 00;14;31;13
So we shifted gears as we were going along like organically into more

00;14;31;13 - 00;14;34;26
of a marketing company and at that time got into some wholesaling.

00;14;35;06 - 00;14;38;19
Okay, so started to get

00;14;38;19 - 00;14;42;04
an understanding for how to do that and build some systems around that.

00;14;42;04 - 00;14;47;11
Some software's a couple CRMs that helped us out.

00;14;47;11 - 00;14;52;09
And then finally, as we were going along, we did later

00;14;52;25 - 00;14;57;21
the company started kind of paring down a little bit in the like around 2018.

00;14;57;21 - 00;15;02;17
And so we started going doing, you know, with kind of the blessing

00;15;02;22 - 00;15;05;20
from the people I worked for and just open communication.

00;15;05;20 - 00;15;07;12
I started doing some projects on the side, on my own.

00;15;09;12 - 00;15;11;22
So I actually bought

00;15;12;18 - 00;15;17;25
one of the places that Charm City had under contract as my first rental

00;15;18;13 - 00;15;23;08
and paid like an agreed on wholesale fee and did that whole thing

00;15;23;23 - 00;15;27;28
and that kind of kicked off the thought process for rental properties

00;15;27;28 - 00;15;32;24
and then eventually, you know, with a couple more years, me

00;15;33;05 - 00;15;37;22
and Tyler ended up doing some partnership on a bunch of different properties later

00;15;37;28 - 00;15;42;12
where we built a small rental portfolio and flipped a bunch in ‘20 and ’21.

00;15;42;29 - 00;15;46;21
And then and then this year we wrapped up

00;15;46;28 - 00;15;51;04
or ‘22, we wrapped up a bunch of those just taking advantage of the marketplace.

00;15;51;04 - 00;15;54;12
Yeah, the the ‘20-’22

00;15;54;12 - 00;15;57;16
marketplace in Baltimore.

00;15;57;24 - 00;16;02;27
But the nation as a whole I think has been interesting to say the least.

00;16;04;10 - 00;16;07;01
Just really hot markets.

00;16;07;07 - 00;16;11;12
Um, I, I kind of went the same route as you and took advantage

00;16;11;12 - 00;16;15;01
of some of those situations myself and downsized

00;16;15;01 - 00;16;18;06
a bit of what I had

00;16;18;06 - 00;16;21;03
because it's just a great time to do it.

00;16;21;03 - 00;16;22;10
Yeah, totally man.

00;16;22;10 - 00;16;23;21
Like just unbelievable.

00;16;23;21 - 00;16;27;11
I mean, you know,

00;16;27;12 - 00;16;30;10
it was one of those times when you were flipping homes

00;16;30;12 - 00;16;35;13
that it almost didn't matter what you were putting on the market.

00;16;35;13 - 00;16;37;04
You just had to get it out there.

00;16;37;04 - 00;16;41;14
You know, within that time frame and the time frame wasn't small.

00;16;41;15 - 00;16;44;11
It was like 18 months, you know?

00;16;44;11 - 00;16;46;19
Two years almost, where you could just,

00;16;46;19 - 00;16;48;14
you know, and you don't want to put out junk.

00;16;48;14 - 00;16;51;09
But at that time, it was incredible.

00;16;51;09 - 00;16;53;28
People were buying houses with no inspections.

00;16;53;28 - 00;16;55;22
They were going above ask price.

00;16;55;22 - 00;16;58;14
There was all these you remember that the appraisal contingencies

00;16;58;29 - 00;17;01;19
in normal times, they're like, we're either going to waive it or

00;17;01;19 - 00;17;05;18
we'll pay, you know, up to 20 k more than the appraisal.

00;17;05;22 - 00;17;08;21
Like it was bonkers stuff man. Yeah, it was.

00;17;08;21 - 00;17;12;22
I think we sold a couple in a certain neighborhood that

00;17;13;23 - 00;17;14;12
each time

00;17;14;12 - 00;17;17;08
we sold one it was the new neighborhood record.

00;17;17;15 - 00;17;20;02
Yeah the new record. Yeah. Yeah.

00;17;20;02 - 00;17;21;10
for sure man.

00;17;21;10 - 00;17;24;20
I think one of the last ones we sold was a record

00;17;24;20 - 00;17;27;18
and it was a cash investment purchase.

00;17;30;08 - 00;17;31;25
Oh, that's right.

00;17;31;25 - 00;17;33;28
Wild times for sure.

00;17;33;28 - 00;17;34;11
Yeah.

00;17;34;11 - 00;17;37;22
When you think about, you know, owning that house

00;17;38;10 - 00;17;41;22
and maybe you bought it for 4 to 5 years prior to that

00;17;42;01 - 00;17;45;28
and you can start considering the number you you purchased it for,

00;17;47;13 - 00;17;49;17
It leaves you, like

00;17;49;17 - 00;17;51;21
I always think are we, you know,

00;17;52;11 - 00;17;54;16
someone who wants to buy, buy and hold property.

00;17;55;19 - 00;17;59;16
It's hard for us to wrap our minds around how you can you can buy something

00;17;59;16 - 00;18;04;04
for cash at that number, you know, like, yeah, it makes you go. Who?

00;18;04;08 - 00;18;05;01
Who is this?

00;18;05;01 - 00;18;08;27
What are their, what's their strategy and how are they willing to pay this amount?

00;18;09;07 - 00;18;11;15
Then again, you had a 2-3% interest rate.

00;18;11;23 - 00;18;13;12
Yes, interest rates were different.

00;18;14;23 - 00;18;16;17
Additionally, when the

00;18;16;17 - 00;18;19;23
market and the opportunities dry up like that,

00;18;20;22 - 00;18;22;23
cash just needs to find a home.

00;18;23;26 - 00;18;25;07
True. Yeah.

00;18;25;07 - 00;18;27;02
That stuff tends to happen.

00;18;27;02 - 00;18;30;13
Um, but yeah, it was a wild market.

00;18;32;06 - 00;18;34;22
And then I think as all this was going

00;18;34;22 - 00;18;38;15
on, you and I were having a lot of conversations about,

00;18;38;15 - 00;18;42;10
you know, looking at the market, looking at what we had and talking

00;18;42;10 - 00;18;45;27
about this idea of doing more with less.

00;18;48;03 - 00;18;51;18
Um. Do you want to talk about your mindset there?

00;18;53;04 - 00;18;54;24
Sure. Yeah. Yeah.

00;18;54;24 - 00;18;59;19
So that's always been I think the so the doing more

00;18;59;19 - 00;19;04;09
with less is a I see it as both a strength and a weakness I think.

00;19;04;09 - 00;19;08;26
And I'm talking about myself when I, when I think about this and a lot of it

00;19;08;26 - 00;19;11;26
is the idea that especially coming

00;19;11;26 - 00;19;16;01
from a place of being a jack of all trades and just problem

00;19;16;01 - 00;19;19;27
solving and sort of like figuring out how to operate nimbly,

00;19;20;20 - 00;19;24;06
you just tackle any challenge that comes across your desk.

00;19;24;06 - 00;19;26;02
Email is you're just like jumping on everything,

00;19;26;02 - 00;19;27;14
so you're dealing with marketing

00;19;27;14 - 00;19;29;28
and accounting and sales and the whole nine yards.

00;19;30;23 - 00;19;34;16
So when we learn how to do this, oftentimes

00;19;34;27 - 00;19;38;21
we it's it's a good thing in the sense that we have the knowledge

00;19;38;21 - 00;19;42;18
and the capability to handle almost anything that comes across our desk

00;19;43;06 - 00;19;44;16
from a real estate standpoint.

00;19;44;16 - 00;19;48;29
Once we understand the basic system, right, so we can operate in any

00;19;49;13 - 00;19;53;08
any of those places, the constraint becomes time.

00;19;53;14 - 00;19;57;05
And like if you and we've talked about this in the past offline,

00;19;57;21 - 00;20;02;08
if you don't leverage your time and put other people who are as skilled

00;20;02;08 - 00;20;05;28
and likely more so ideally in those positions,

00;20;06;12 - 00;20;09;18
you're constrained only to what you yourself can do,

00;20;10;05 - 00;20;13;02
you know, and we all have the same number of hours in the day

00;20;13;11 - 00;20;17;19
and probably other ways we like to spend them than just working away.

00;20;17;19 - 00;20;18;26
plugging away.

00;20;18;26 - 00;20;22;07
So, you know, I look at it from a sense of

00;20;22;29 - 00;20;28;07
2020 came around and COVID hit, and for me

00;20;28;23 - 00;20;34;05
it was like a great time to buckle down and look at all the systems

00;20;34;05 - 00;20;38;07
that I operate in and say, can I can I continue in this way?

00;20;38;07 - 00;20;39;29
And at that time, it felt very uncertain.

00;20;41;11 - 00;20;44;16
You know, it was like no one knew what was going to happen

00;20;44;16 - 00;20;46;21
in the next few months after that March, April.

00;20;47;15 - 00;20;51;09
And I think, frankly, like definitely it was a shock to me

00;20;51;09 - 00;20;56;04
that the direction it went was just like a match and some gasoline.

00;20;56;04 - 00;20;57;22
Like I thought it was going to go the opposite way.

00;20;57;22 - 00;20;58;21
Yeah, me too.

00;20;59;04 - 00;21;00;04
Frickin wild, man.

00;21;00;04 - 00;21;04;14
So anyway, I think like, ultimately

00;21;05;00 - 00;21;09;02
it has become a great strength to understand multiple facets

00;21;09;02 - 00;21;13;06
and really entrench and take the time needed to learn.

00;21;13;06 - 00;21;16;26
Because I'm confident enough that if I wanted to scale back

00;21;16;26 - 00;21;20;26
and just be a sole operator, I have the capacity to do that.

00;21;20;26 - 00;21;22;26
And that's kind of where I've been.

00;21;22;26 - 00;21;27;12
And on the flip side, I think it is important to find

00;21;27;12 - 00;21;30;16
and it could be via VA’s or it could be

00;21;31;00 - 00;21;34;08
just building out systems efficiencies via software,

00;21;34;24 - 00;21;39;09
but figuring out ways where you are your own bottleneck and then moving,

00;21;39;09 - 00;21;44;00
you know, removing that constraint so that you can grow a little bit right?

00;21;44;00 - 00;21;45;10
Yeah, that makes a lot of sense.

00;21;47;09 - 00;21;47;26
Yeah, man.

00;21;47;26 - 00;21;52;07
And, and, and now I think might be another one of those times to look,

00;21;52;07 - 00;21;55;18
you know, almost do like an internal audit and see

00;21;56;10 - 00;21;58;24
what kind of where

00;21;58;24 - 00;22;03;08
you are not being nimble and where you're maybe spending a lot of time

00;22;03;19 - 00;22;07;04
that doesn't return a lot of cash and kind of reconsider.

00;22;07;13 - 00;22;12;00
And also like even places that you're spending money that aren’t a good return,

00;22;12;18 - 00;22;15;00
which might be a good time to consider

00;22;15;00 - 00;22;17;26
from a marketing perspective, like how we come about

00;22;17;26 - 00;22;21;21
acquiring these deals or get these opportunities in front of us.

00;22;21;21 - 00;22;22;09
Right

00;22;23;15 - 00;22;26;03
To that point,

00;22;26;03 - 00;22;28;05
what type of marketing

00;22;28;05 - 00;22;31;19
are you doing in your business?

00;22;31;19 - 00;22;36;29
So a few different channels and one of which was

00;22;37;26 - 00;22;42;00
is pay per click on Google, which is basically just like

00;22;42;23 - 00;22;45;08
someone searches geographically

00;22;45;08 - 00;22;47;27
in Baltimore and surrounding areas

00;22;48;09 - 00;22;50;29
like a keyword search, sell my home Baltimore.

00;22;51;14 - 00;22;53;02
And those first three,

00;22;54;09 - 00;22;56;13
those first three hits, they come up our ads

00;22;56;25 - 00;22;59;26
and you can see them highlighted before you get to the end search results.

00;22;59;26 - 00;23;02;26
Right So that's one way I market.

00;23;02;26 - 00;23;07;01
And then folks will find me and fill out a web form or make a phone call.

00;23;07;03 - 00;23;09;19
So you’re one of those ads.

00;23;09;19 - 00;23;11;07
I’m one of those ads, Yeah.

00;23;11;07 - 00;23;13;07
Yeah. I'm one of those three ads typically.

00;23;13;07 - 00;23;16;18
And again, it's like based on where the search originates,

00;23;16;18 - 00;23;19;27
which is linked to an IP address

00;23;19;27 - 00;23;23;26
and that is operated by a company called Geo Flip.

00;23;24;00 - 00;23;25;20
So that's all third party.

00;23;25;20 - 00;23;30;07
I just essentially have another company manage that entire ad campaign

00;23;31;09 - 00;23;33;12
and I've been doing that

00;23;33;12 - 00;23;36;18
for a couple years and it's worked well.

00;23;38;06 - 00;23;42;02
It's, you know, yeah, it's just a good consistent way

00;23;42;02 - 00;23;47;06
for me to get a few leads a week and kind of keep keep the churn going.

00;23;47;15 - 00;23;49;28
And to that point, like that we were talking about earlier,

00;23;50;18 - 00;23;53;01
you know, it's something I've considered like is it

00;23;53;07 - 00;23;56;10
I've considered outsourcing the phone calls and all these things.

00;23;56;26 - 00;23;59;09
But I think another way to think about

00;23;59;17 - 00;24;03;23
when we're doing this is to consider like what's at the top of the funnel

00;24;04;00 - 00;24;07;14
and sort of how do we do, what's the first domino that falls?

00;24;07;14 - 00;24;08;17
And it's the marketing, right?

00;24;08;17 - 00;24;10;24
And I definitely learned that from like Tyler and Brooke.

00;24;11;07 - 00;24;14;19
If you don't have marketing going, nothing else is going to happen.

00;24;14;22 - 00;24;18;17
Like, you have to get opportunities to get the business rolling.

00;24;18;17 - 00;24;22;14
So it does it you know, it's a little scary when you start

00;24;22;14 - 00;24;25;12
because there's there's a monthly payment involved, and all these things.

00;24;26;03 - 00;24;29;25
And for me that was important because I take it seriously,

00;24;29;25 - 00;24;34;00
you know, like a phone call or a lead comes in like I'm pretty much dropping

00;24;35;01 - 00;24;36;19
to the extent I can, everything

00;24;36;19 - 00;24;39;15
that's going on and kind of tackling that right away, Right?

00;24;40;02 - 00;24;40;11
Yeah.

00;24;40;11 - 00;24;42;26
And there's a level of commitment there.

00;24;44;13 - 00;24;46;18
You can't just put in a month, right?

00;24;46;18 - 00;24;49;26
You got to commit to the consistency

00;24;51;10 - 00;24;54;04
to see the results.

00;24;54;04 - 00;24;54;25
For sure.

00;24;54;25 - 00;24;58;00
And like some months are duds, you know, and frustrating.

00;24;58;20 - 00;25;03;00
But then the next month, you know it's it all ultimately equals out and

00;25;03;19 - 00;25;06;28
and I think it's always important and I haven't been the best at this

00;25;06;28 - 00;25;10;08
but to measure you know to figure out how you can measure

00;25;10;22 - 00;25;15;07
those campaigns, you know, a lot of people use the word like they have their KPIs.

00;25;15;07 - 00;25;15;25
KPI’s yup.

00;25;16;06 - 00;25;20;16
You know, and just understanding like what would it or what are the variables

00;25;20;16 - 00;25;24;15
that by which if I accomplish these things, I will be successful.

00;25;24;15 - 00;25;25;09
How many leads

00;25;25;09 - 00;25;27;21
does it take to get an appointment, How many appointments for an offer?

00;25;27;21 - 00;25;29;12
How many offers for a deal?

00;25;29;12 - 00;25;31;16
How many deals to reach the income level we want?

00;25;31;16 - 00;25;33;19
And then you can just kind of work backwards and say, okay,

00;25;33;19 - 00;25;38;01
well I need 20 leads a month to get myself two deals like whatever it might be.

00;25;38;10 - 00;25;38;17
Right.

00;25;38;17 - 00;25;43;19
And that can help you sort of dial in what your cost is per deal as well,

00;25;43;19 - 00;25;48;06
and make sure that when you do a deal, there's not only room for you

00;25;48;06 - 00;25;49;00
to make a profit,

00;25;49;00 - 00;25;52;11
but room for you to cover your costs that it took to get the deal.

00;25;53;14 - 00;25;54;03
For sure.

00;25;54;03 - 00;25;54;24
For sure.

00;25;54;24 - 00;25;58;29
And if you are measuring and maybe you've got a couple different

00;25;58;29 - 00;26;03;11
marketing channels going, so for instance, pay per click, you know,

00;26;03;11 - 00;26;07;04
you might have a marketing campaign that's just direct mail.

00;26;07;20 - 00;26;11;11
Yeah, a lot of folks are doing different things, text messages.

00;26;11;28 - 00;26;13;13
So then you if you're not

00;26;13;13 - 00;26;16;23
if you understand how many leads it takes and understand the cost per lead,

00;26;17;10 - 00;26;21;13
well then you can basically look apples to apples across the campaigns and say,

00;26;21;13 - 00;26;25;13
well, this one's kicking this one’s butt, like, let's dial that one up.

00;26;25;22 - 00;26;29;01
And and see how that goes. Right.

00;26;29;01 - 00;26;30;20
So that's, that's super helpful too.

00;26;30;20 - 00;26;33;20
And I think probably for any business

00;26;33;20 - 00;26;37;08
like pretty important to to have those basics understood.

00;26;37;16 - 00;26;37;29
Yeah.

00;26;37;29 - 00;26;40;20
I think if you're if you're not in-tune

00;26;41;04 - 00;26;47;25
with the money side of your marketing, you're just kind of

00;26;49;02 - 00;26;50;23
doing things willy nilly and

00;26;50;23 - 00;26;55;16
that can produce results, but it's not effective, right?

00;26;55;16 - 00;26;58;26
And you have no way to really control things.

00;27;01;20 - 00;27;02;01
Yeah.

00;27;02;01 - 00;27;06;15
And that's, it's a constant like give and take because you want to grow

00;27;07;00 - 00;27;10;09
and you know, there's only so much time you can spend

00;27;11;05 - 00;27;15;12
like crunching numbers, you know, But if you are able to set up

00;27;15;12 - 00;27;19;08
something simple, it doesn't have to be like 100% accurate.

00;27;19;16 - 00;27;21;20
I think if you can get very close

00;27;22;00 - 00;27;25;21
to understanding where your monthly is right and not kill yourself over it.

00;27;25;21 - 00;27;27;18
But but have a good understanding that here's

00;27;27;18 - 00;27;30;26
here's my monthly spend, here's how much it's going to take to cover it.

00;27;30;26 - 00;27;36;18
And based on my exit strategy, you know, whether that's wholesale or rental

00;27;36;18 - 00;27;40;15
or flip, here's here's how many deals I need to to kind of break even.

00;27;40;15 - 00;27;41;08
Right?

00;27;41;09 - 00;27;45;06
Yeah, some some kind of idea because is what you want

00;27;46;04 - 00;27;49;23
and and the discipline to be consistent.

00;27;51;07 - 00;27;51;25
Yeah.

00;27;51;25 - 00;27;55;10
And you know I think we talk a lot about discipline.

00;27;55;28 - 00;27;56;23
I mean

00;27;57;14 - 00;28;00;18
a lot of this business is discipline and right.

00;28;00;18 - 00;28;04;26
Since there's so many different ways to get distracted with new shiny ways

00;28;04;26 - 00;28;07;24
to make a make a buck,

00;28;08;00 - 00;28;10;29
having that discipline to stick with something,

00;28;11;20 - 00;28;14;13
even when you have those months where, oh, man, I didn't

00;28;14;19 - 00;28;18;25
I didn't get a deal or this, this thing I tried.

00;28;19;22 - 00;28;21;28
It didn't work out.

00;28;22;14 - 00;28;24;20
Sometimes if you just stick with it,

00;28;24;20 - 00;28;28;10
you'll find that the benefits will come.

00;28;29;17 - 00;28;31;01
Right? Totally.

00;28;31;01 - 00;28;36;05
And to the discipline point, like there are so many different strategies

00;28;36;05 - 00;28;38;15
in real estate, even amongst your peers,

00;28;38;15 - 00;28;41;12
as you're kind of coming up and you start realizing,

00;28;42;02 - 00;28;45;20
Man, there's so many things, I think, for guys that are interested in this business

00;28;45;20 - 00;28;50;22
that seem like maybe they're performing better than what you were currently doing.

00;28;51;13 - 00;28;56;22
However, like if you're if you're committed to whatever

00;28;56;23 - 00;28;58;16
niche that you've selected

00;28;58;16 - 00;29;01;11
and you've got like several months involved, a couple of years,

00;29;01;11 - 00;29;05;06
whatever it is, oftentimes like I think it makes more sense to

00;29;05;06 - 00;29;08;21
to master it, you know, especially if you're well on the way, right,

00;29;08;28 - 00;29;12;16
and dive deep and become really good at it.

00;29;12;23 - 00;29;16;20
And ideally, once you do that and kind of spend the time,

00;29;16;28 - 00;29;19;24
it'll create the dividends later where you can explore

00;29;19;25 - 00;29;22;15
more and and or maybe like at a different asset class.

00;29;23;02 - 00;29;27;19
And I'm sure, you know, I've had the opportunity again

00;29;27;19 - 00;29;30;28
with, with some of the relationships that I've had to like

00;29;31;17 - 00;29;35;09
try with industrial property and,

00;29;35;16 - 00;29;40;24
and then some small multifamily stuff and these things they seem, you know,

00;29;40;24 - 00;29;44;17
you're jumping from single family residential into this other asset class.

00;29;45;04 - 00;29;47;06
There's a lot of different nuances, obviously,

00;29;47;06 - 00;29;50;22
and you need to have the right team around you, but it's achievable.

00;29;50;22 - 00;29;52;14
You know, it's like it's

00;29;52;14 - 00;29;56;14
kind of like the mental constraints we put on ourselves and the network.

00;29;56;14 - 00;29;59;14
We have to say, Hey, this is what I'm seeing.

00;29;59;14 - 00;30;02;11
It looks pretty good as a third party,

00;30;03;15 - 00;30;05;14
someone who's on my in my corner.

00;30;05;14 - 00;30;07;10
Could you could you help me evaluate this? Right.

00;30;07;10 - 00;30;08;00
You know,

00;30;09;03 - 00;30;12;06
so I think that's all that's all really, really accurate.

00;30;12;06 - 00;30;16;00
And just just sticking to selling for a while is hard

00;30;16;15 - 00;30;20;25
in this world that we live in now, even like finishing an email

00;30;20;25 - 00;30;23;06
without getting interrupted is friggin tough, so

00;30;24;11 - 00;30;25;07
you can't.

00;30;25;07 - 00;30;27;29
But there's there's days when I think I've said something

00;30;28;09 - 00;30;30;24
and I think what's happened to me and you? And I'd be like, Dude, I.

00;30;30;26 - 00;30;33;10
I thought I hit that button and there it is in the window.

00;30;33;10 - 00;30;36;03
It's been there for 8 hours. I think. I've done that.

00;30;36;07 - 00;30;37;27
Well, yeah, yeah.

00;30;37;27 - 00;30;39;06
I think we all have at this point.

00;30;39;06 - 00;30;42;20
So yeah, I mean, figuring out ways to, to block some time for,

00;30;43;20 - 00;30;45;22
for, for staying on task, you

00;30;45;22 - 00;30;50;06
know, and, and trying to finish things that we start is important.

00;30;50;06 - 00;30;50;23
Right.

00;30;51;28 - 00;30;58;06
So one thing I want to talk about with you is that transition.

00;30;58;06 - 00;31;01;09
I kind of alluded to it earlier, the transition

00;31;01;09 - 00;31;06;08
from replacing the W2 the job, right.

00;31;06;22 - 00;31;09;18
Getting into the business, getting paid for it,

00;31;10;10 - 00;31;13;03
and then finding the next step.

00;31;13;03 - 00;31;16;02
And that step being

00;31;16;02 - 00;31;18;28
passive income, filling that,

00;31;19;23 - 00;31;22;04
let's call it bucket to replace

00;31;22;10 - 00;31;25;20
that working income with passive income.

00;31;25;20 - 00;31;29;21
And what is passive income and what are the different ways that can look like?

00;31;29;21 - 00;31;33;12
And how passive is real estate income, right?

00;31;33;12 - 00;31;36;22
Because it's not I think most people think

00;31;36;22 - 00;31;40;03
that it's very passive, but it's not quite as passive as people think it is.

00;31;41;09 - 00;31;42;19
Yeah, totally, man.

00;31;42;19 - 00;31;45;06
So, yeah, great, great call.

00;31;45;06 - 00;31;47;07
And I think that's so important.

00;31;47;07 - 00;31;50;25
And one thing you and I have talked about again in the past

00;31;50;25 - 00;31;55;27
is just getting clear on what we want, because if we can't do that,

00;31;56;12 - 00;31;57;02
then we don't.

00;31;57;02 - 00;32;02;21
There's no way we're going to ever achieve and have kind of a milestone or a bench

00;32;02;21 - 00;32;07;00
post to say like, here's where we're going and here's now how we get here.

00;32;07;00 - 00;32;09;26
We can come up with an actual plan for what that looks like.

00;32;10;20 - 00;32;14;16
So to your point, you know, the first question is like, all right,

00;32;14;16 - 00;32;16;10
I'm in this job,

00;32;16;23 - 00;32;19;09
W-2, job, corporate, whatever it might be.

00;32;19;09 - 00;32;23;15
And if I'm not loving it, how how do I get out of that job?

00;32;23;15 - 00;32;25;16
Well, you just have to replace

00;32;25;16 - 00;32;27;26
your - Doesn't even have to be that current income,

00;32;27;26 - 00;32;30;17
but you have to replace your expense, whatever your expenses are.

00;32;31;04 - 00;32;35;29
So if you spend five grand a month between rent, gas, groceries, blah blah blah,

00;32;35;29 - 00;32;38;25
figure out a way, you know, to have a little savings

00;32;38;25 - 00;32;41;11
and then cover that and then you can take a risk, right?

00;32;41;11 - 00;32;46;01
Or maybe you find a job that enables you to cover the

00;32;47;03 - 00;32;48;09
next piece, right?

00;32;48;09 - 00;32;50;01
So now that corporate the the,

00;32;50;01 - 00;32;52;26
the day to day expenses are covered and that bucket is full.

00;32;53;21 - 00;32;56;14
And now you go, okay, what would it be like?

00;32;56;14 - 00;32;59;12
What would I have to do if I could now

00;32;59;24 - 00;33;04;08
look at those day to day that that bucket that I'm working 9 to 5 for,

00;33;04;21 - 00;33;08;16
still working in some capacity for like either yourself or another company

00;33;09;15 - 00;33;13;08
and have that bucket filled up via real estate investments,

00;33;13;08 - 00;33;17;12
whether that's your own buy and hold properties, syndications,

00;33;17;26 - 00;33;21;17
you know, different, all these different channels and avenues.

00;33;21;17 - 00;33;26;03
And to your great point, what is passive,

00;33;26;04 - 00;33;29;13
how many you like, what kind of asset classes are truly passive?

00;33;29;13 - 00;33;33;16
Well, I mean, I can only speak from my experience, but,

00;33;33;23 - 00;33;37;04
you know one at one point I think I had maybe with my partner

00;33;37;04 - 00;33;41;25
and then on my own 20 ish, you know, 20 to 25 units,

00;33;42;10 - 00;33;45;01
and we went through several

00;33;45;01 - 00;33;48;24
managers, property managers, and,

00;33;49;27 - 00;33;51;08
you know, it was partly our

00;33;51;08 - 00;33;56;01
own issues with like the learning curve and how to operate in those relationships.

00;33;56;01 - 00;34;01;13
But today I'm down to maybe ten on my own.

00;34;01;13 - 00;34;03;28
And there's,

00;34;04;22 - 00;34;08;02
you know, to the point it's I don't get like blasted,

00;34;08;02 - 00;34;11;27
but it's definitely several hours still a week than I'm putting in.

00;34;11;27 - 00;34;14;04
So like, it's not zero is my point. Right?

00;34;15;02 - 00;34;17;06
And in order for you to operate

00;34;17;23 - 00;34;21;13
any business, well, you want to build the systems around it.

00;34;21;25 - 00;34;23;02
There's always a way to solve it.

00;34;23;02 - 00;34;24;27
Like you can hire a manager,

00;34;24;27 - 00;34;28;24
but then you're you're entrusting that entire piece to a manager, right?

00;34;28;24 - 00;34;30;26
So, like, as long as that trust is there

00;34;30;26 - 00;34;34;17
and you're somehow keeping track and still staying responsible,

00;34;34;29 - 00;34;39;04
I think that's the most that was the key lesson I learned with the manager before.

00;34;39;05 - 00;34;42;13
I was like, I can focus on my flips and my active income

00;34;42;24 - 00;34;45;11
and Hey manager, you got the rest like this stuff.

00;34;46;06 - 00;34;49;17
And then I removed my own responsibility from the equation

00;34;49;17 - 00;34;53;00
and then the next time I looked, I was like, Dude, what happened here?

00;34;53;00 - 00;34;55;03
Like, the house is crushed.

00;34;55;13 - 00;34;57;26
We got these terrible tenants, it

00;34;58;11 - 00;35;00;29
more like a rehabbing this to resell it.

00;35;00;29 - 00;35;02;29
Like I would like a gut, you know. Yeah.

00;35;03;06 - 00;35;07;08
So sometimes you learn to learn the hard way and just hope that,

00;35;07;23 - 00;35;08;25
you know, you could stay.

00;35;08;25 - 00;35;13;02
You could stay in business and then change up quick before it happens again.

00;35;13;02 - 00;35;15;13
Yeah, Yeah. You got to manage the managers

00;35;16;16 - 00;35;18;26
like, people forget that sometimes.

00;35;19;06 - 00;35;19;19
Yeah.

00;35;19;19 - 00;35;20;10
And do

00;35;20;10 - 00;35;21;13
maybe you find a great one

00;35;21;13 - 00;35;25;06
that you don't need to but you got to watch it for a little while, right?

00;35;25;11 - 00;35;28;14
Yeah. We all hope that's the case. Right?

00;35;28;20 - 00;35;30;28
They're hard to find though.

00;35;30;28 - 00;35;31;17
They are.

00;35;31;17 - 00;35;31;29
They are.

00;35;31;29 - 00;35;33;18
Well, it's a tough business. It's a very tough business.

00;35;33;18 - 00;35;34;20
Property management.

00;35;34;20 - 00;35;35;21
It's a very tough business.

00;35;35;21 - 00;35;37;13
Yeah, Thin margins.

00;35;37;13 - 00;35;39;26
You kind of have to thin margins.

00;35;39;26 - 00;35;40;08
That's it.

00;35;40;08 - 00;35;44;04
And like, you know, I, I think about that one personally is like

00;35;44;04 - 00;35;49;01
you kind of have to get to 100 units before you hire someone

00;35;49;11 - 00;35;52;11
because you're maybe making 8 to 10% of rent.

00;35;52;12 - 00;35;52;27
Right?

00;35;53;04 - 00;35;56;05
And that might be 100 bucks a unit.

00;35;56;23 - 00;35;58;23
So, you know, if

00;35;59;09 - 00;36;01;29
if you're that guy operating that business,

00;36;02;14 - 00;36;05;22
are you the only guy like, are you the guy answering all the calls?

00;36;05;22 - 00;36;07;09
Are you the dude? Do it all the maintenance.

00;36;07;09 - 00;36;09;18
What are you. Yeah. So it's it's tough.

00;36;09;21 - 00;36;10;15
It's a hard one, man.

00;36;10;15 - 00;36;14;29
Yeah, but with that said, you know, back to our

00;36;15;22 - 00;36;20;15
passive bucket, you know, like, I think there's you come up with your goal

00;36;20;26 - 00;36;25;05
to, to figure out how much you know what what monthly income are you looking for.

00;36;25;22 - 00;36;28;23
You figure out an asset class and for me it was like

00;36;29;09 - 00;36;32;23
just natural to find stuff that was easy for me to get to

00;36;34;02 - 00;36;35;21
because I think there's a lot of opportunities

00;36;35;21 - 00;36;39;09
still in and around where I live in Baltimore and

00;36;40;04 - 00;36;43;20
and then kind of work backwards from there to say, okay, if it's if I stay

00;36;43;20 - 00;36;47;10
with these single property, single family properties, how many is it going to take,

00;36;47;29 - 00;36;50;18
you know, at the level that we're pursuing them?

00;36;51;09 - 00;36;56;09
And, you know, I think that that goal can change.

00;36;56;09 - 00;37;00;19
And for me, it's gone from like, I'd rather have fewer

00;37;02;10 - 00;37;05;28
kind of larger assets, you know, condense.

00;37;05;28 - 00;37;09;20
So the same rationale that a lot of people I was with multifamily

00;37;09;20 - 00;37;13;16
or whatever asset class, like maybe you want to drop 1 to 2 million

00;37;14;07 - 00;37;16;15
into a multi a small multi family

00;37;16;15 - 00;37;20;11
rather than having seven, eight or nine single family properties.

00;37;20;11 - 00;37;22;08
And that's definitely becoming more attractive.

00;37;22;08 - 00;37;24;09
As I'm kind of progressing here.

00;37;24;09 - 00;37;28;29
I feel the same way and I think that ties in nicely to the overall theme here.

00;37;28;29 - 00;37;31;10
Do more with less.

00;37;31;10 - 00;37;32;05
Exactly right.

00;37;32;05 - 00;37;34;19
Exactly. Me Yeah, yeah. And

00;37;35;17 - 00;37;37;21
just like anyone who's kind of looked into this,

00;37;37;21 - 00;37;40;06
this isn't new information at all, but like

00;37;40;28 - 00;37;44;02
small multifamily, you have 20 units.

00;37;44;02 - 00;37;46;22
They're all one bed, one bath are all laid out the same.

00;37;46;25 - 00;37;50;00
They have one roof, all have the same exact infrastructure.

00;37;50;10 - 00;37;54;27
20 houses on the other hand, 20 different layouts, 20 different

00;37;55;08 - 00;37;58;20
you like completely different HVAC systems and like the whole thing Yeah.

00;37;58;23 - 00;38;01;26
So if you're especially if you're a small business, it's

00;38;01;26 - 00;38;06;01
really nice to have those levels of understanding and scale

00;38;06;07 - 00;38;10;02
and then go, Hey, we can you know, this, this is still one building.

00;38;10;02 - 00;38;12;29
It's not 20 buildings, it's one place, right? Right.

00;38;12;29 - 00;38;15;09
I think that makes a lot of sense and as I've

00;38;16;09 - 00;38;17;19
I'm kind of in the same boat as you.

00;38;17;19 - 00;38;20;19
I've owned a portfolio of single families and I've

00;38;20;19 - 00;38;23;22
found that multifamily

00;38;24;22 - 00;38;27;13
owning less of those single buildings

00;38;27;26 - 00;38;32;07
and more units themselves has been a big change.

00;38;33;12 - 00;38;34;20
Yeah, Yeah.

00;38;34;20 - 00;38;38;03
And frankly, I need to practice what I preach.

00;38;38;20 - 00;38;42;13
But because I still like, you know, I've owned a few small multifamily

00;38;42;15 - 00;38;47;15
and it's something it's definitely a bigger goal for me this year in 23.

00;38;47;23 - 00;38;51;22
And, and one thing that happens that has happened to me

00;38;51;22 - 00;38;56;29
is like we get so involved and invested in our in our marketing system

00;38;57;15 - 00;39;00;22
that what shows up easily and kind of naturally

00;39;00;22 - 00;39;04;04
now is single family property.

00;39;04;04 - 00;39;07;20
So I don't want to abandon that channel, you know, and I'm

00;39;07;20 - 00;39;09;02
just kind of like thinking out loud here, like,

00;39;09;02 - 00;39;13;01
I don't want to abandon that because that's the business I've built.

00;39;13;01 - 00;39;16;15
However, you have like, if, if I want it to change,

00;39;17;07 - 00;39;21;26
I have to make some changes to the system because it's built in a way

00;39;22;04 - 00;39;25;04
that right now those things are still real valuable to me, right?

00;39;25;06 - 00;39;28;19
So I need to have you know, it has to be very intentional, as is my point, Right?

00;39;28;27 - 00;39;29;22
Yeah, that's a good point.

00;39;31;06 - 00;39;32;14
Yeah, right.

00;39;32;14 - 00;39;35;04
Well, Travis, what are your goals for the rest of the year?

00;39;35;10 - 00;39;39;15
What do you see yourself doing?

00;39;39;15 - 00;39;44;26
Well, if we I'm looking to do 12 to 15 flips,

00;39;45;15 - 00;39;50;16
you know, 1-ish a month is is a good level for me.

00;39;50;16 - 00;39;53;09
And I got there last year.

00;39;53;09 - 00;39;58;20
I think there's still enough and I kind of the way I operate is houses

00;39;58;20 - 00;40;02;09
that are like generally $350,000 and under as an ARV.

00;40;03;18 - 00;40;07;16
And just for me personally, like in the construction I do, I think that's safer

00;40;08;11 - 00;40;11;20
for, for kind of the level of finish and the model that I have.

00;40;12;13 - 00;40;14;20
So that's certainly a goal.

00;40;14;20 - 00;40;18;23
Keep the marketing going and then this year to the

00;40;18;26 - 00;40;22;17
to the passive bucket, I want to get that thing a lot more full.

00;40;22;28 - 00;40;26;21
So I am seeking now and kind of clarifying myself

00;40;26;21 - 00;40;31;01
like what does that look like from a 1 to $2 million asset?

00;40;31;01 - 00;40;34;04
And I'm kind of toying with a different a few different asset

00;40;34;04 - 00;40;38;01
classes in real estate multifamily being one of them, and then

00;40;39;02 - 00;40;40;05
the small multifamily.

00;40;40;05 - 00;40;43;10
And then I've actually just recently started looking at like

00;40;43;10 - 00;40;46;01
small neighborhood centers, which is kind of a weird

00;40;46;22 - 00;40;48;08
something that not a lot of people talk about.

00;40;48;08 - 00;40;49;25
Like Shopping centers?

00;40;50;13 - 00;40;54;11
Yeah, sort of like strip malls, but but say say they're

00;40;54;27 - 00;40;58;13
the way I'm looking at this is like maybe like 5 to 10

00;40;58;13 - 00;41;02;22
tenant situations that aren't anchored by like a huge grocery store.

00;41;02;27 - 00;41;05;09
So it would be like, you know, a liquor store

00;41;05;09 - 00;41;08;29
and a tax accountant and like a dog groomer or whatever.

00;41;09;13 - 00;41;12;29
But things that whether there's an economic downturn

00;41;13;04 - 00;41;16;28
or not, haircuts like people are going to, you know,

00;41;17;13 - 00;41;20;13
and it's something I've just started learning about

00;41;20;13 - 00;41;24;22
but I'm pretty interested in because it doesn't seem quite as saturated

00;41;24;22 - 00;41;29;29
and competitive at this very moment, you know, in comparison

00;41;29;29 - 00;41;32;17
with like multifamily and and a few, you know,

00;41;32;22 - 00;41;35;02
mobile home parks have blown up and self-storage.

00;41;35;02 - 00;41;41;15
So anyway, might be something that'll I'll get into here in the next 6 to 8 months.

00;41;41;28 - 00;41;43;28
Great. Well, that's that's pretty exciting.

00;41;45;05 - 00;41;47;09
Yeah, I'm pretty, pretty excited about it, man.

00;41;47;09 - 00;41;49;21
And look, if I don’t life goes on.

00;41;50;05 - 00;41;51;18
Life goes on.

00;41;51;18 - 00;41;53;27
A lot of other different ways to,

00;41;54;20 - 00;41;57;06
you know, expand your business.

00;41;57;06 - 00;41;59;04
Right, right, right.

00;41;59;04 - 00;41;59;16
Yeah.

00;41;59;16 - 00;42;04;13
And dude one other thing on the expansion I just want to mention,

00;42;04;15 - 00;42;07;27
like it's also okay to, like, be good with where you are.

00;42;07;27 - 00;42;10;19
Yeah, I would.

00;42;10;25 - 00;42;13;10
And I say that because I think we all as like

00;42;13;18 - 00;42;17;03
in our culture, we're like, Oh, well you did 12 last year.

00;42;17;03 - 00;42;18;13
Like, why don't you want to do 20?

00;42;18;13 - 00;42;20;19
Like, why don't you want to double, like, Well,

00;42;20;23 - 00;42;23;25
because I have three kids and I've tried to raise a family too

00;42;23;25 - 00;42;25;28
and like not be kicked out of my household.

00;42;25;28 - 00;42;28;12
It's so important to realize that

00;42;29;12 - 00;42;32;15
you you can't give it all up to work,

00;42;33;24 - 00;42;34;20
right?

00;42;35;01 - 00;42;35;26
I mean, you can.

00;42;35;26 - 00;42;36;19
You certainly can.

00;42;36;19 - 00;42;39;10
But there's there's a cost to that.

00;42;39;19 - 00;42;44;09
And not everyone has the same sort of situation.

00;42;44;24 - 00;42;47;22
But your something is going to cost you.

00;42;47;22 - 00;42;50;07
There will be something to break along the way.

00;42;51;16 - 00;42;51;23
Right.

00;42;51;23 - 00;42;57;23
So taking time for yourself, taking time for your family, recharging, spending,

00;42;58;00 - 00;43;00;24
you know, time on your relationships, all that stuff is so important.

00;43;00;24 - 00;43;05;11
And I and personally I think is the most important thing.

00;43;05;11 - 00;43;08;11
So, you know, I think you've got a great mindset.

00;43;09;20 - 00;43;10;16
Well, I appreciate that.

00;43;10;16 - 00;43;13;03
Yeah. And yeah, that's it. That's easy. I feel the same way.

00;43;13;04 - 00;43;15;04
Like that's why we started this, right?

00;43;15;04 - 00;43;18;20
You know, that's why we decided to go into this business so we could

00;43;19;09 - 00;43;22;23
develop freedom and not have to work till were 60 you know, behind a desk.

00;43;22;23 - 00;43;25;13
Right? So that's, that's the whole thing for me.

00;43;25;13 - 00;43;29;09
And that's kind of what keeps me grounded and getting after it,

00;43;29;09 - 00;43;33;18
you know, with the hopes of of having creating more time freedom.

00;43;33;18 - 00;43;34;20
Yeah. Yeah.

00;43;34;20 - 00;43;36;00
I think it makes a lot of sense.

00;43;36;00 - 00;43;38;03
Well, you're you're absolutely crushing it.

00;43;38;29 - 00;43;40;27
We appreciate you coming on, Travis.

00;43;40;27 - 00;43;42;22
I value our friendship a lot.

00;43;42;22 - 00;43;45;11
And I'm glad that you're here with us chatting.

00;43;45;11 - 00;43;50;25
And is there any way that people can reach out to you if they want to get in touch?

00;43;52;16 - 00;43;53;03
Yeah, man.

00;43;53;03 - 00;43;53;22
Absolutely.

00;43;53;22 - 00;43;56;19
So, first of all, thank you for having me, Jarred.

00;43;56;19 - 00;43;58;26
It's it's a complete pleasure to chat with you.

00;43;59;15 - 00;44;01;11
On and offline at any time.

00;44;01;11 - 00;44;02;21
So thank you.

00;44;02;21 - 00;44;07;03
And we can if anyone's interested in chatting,

00;44;07;18 - 00;44;11;19
I'm on Instagram just @lauchmanRE

00;44;12;04 - 00;44;17;01
and and Facebook and you know like website.

00;44;17;01 - 00;44;19;14
So hit me up if you guys have any questions in

00;44;19;29 - 00;44;22;15
around construction or flipping houses or if there's anything I can do

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to help Happy to Happy to chat Travis we'll put all that stuff in the show notes

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for everybody. And thanks again for coming on.

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I look forward to chatting with you again soon.

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My pleasure, man.