Posts tagged "author"

JC 014: Leadership, influence and publishing with Nick Raithel

June 7th, 2017 | no comments

How to become a real estate industry thought leader

The Real Estate Locker Room ShowNick Rathiel is the creator of The Seven Hour Book; a proven system that allows any real estate professional to write their own professionally published book on amazon.com. Nick is committed to aiding industry experts in sharing their stories and their knowledge to get the recognition they deserve. Becoming a published author will helps extend his clients sphere of influence outside of their current professional niche as well as attract new business and investment opportunities.

Nick and his team at The Seven Hour Book assist people who want to tell their unique stories relating to their area of expertise but lack the time or know-how to produce a published book. Nick’s clients need to only commit a total of seven hours of their own time to the program and the team at The Seven Hour Book will take care of the rest.

Five key points

  • Having a published book is a priceless SEO play as it will appear on one of the world’s largest search engines amazon.com.
  • Having a book is a great way to filter your potential audience. It will help them understand who you are, what you’re about and if your business is a good fit for them.
  • Publishing a book provides a broader range of options outside of your normal range of work. It will establish you as a thought leader, coach and potentially protect against real estate market nosedives.
  • Although the process of creating the book only takes seven hours of the client’s time, the Seven Hour Book team spend a great deal more time to produce a quality book for the market.
  • No matter what your specific role is within the real estate industry, a well written book is a great way to position yourself with clients and attract more deals.

Favorite books:

Total Recall: My Unbelievably True Life Story by Arnold Schwarzenegger

An Iron Will by Orison Swett Marden

Favorite quote: “All our dreams can come true, if we have the courage to pursue them” By Walt Disney

Reach out to Nick and The Seven Hour Book team at: http://www.contentcorps.net

Thank you Nick for taking some time out to share your business insights with us.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at http://www.johncarneyonlie.com

POST GAME REPORT: Episode Transcript

JC 014: Leadership, influence and publishing with Nick Raithel

How to become a real estate industry thought leader

Announcer: Welcome to the, “Real Estate Locker Room Show” with John Carney. Did you know investing in real estate is a team sport? Join John and his guests as they explore the business of real estate and athletic competition. The goal for this show is to grant you direct access to the real estate pros that are closing profitable deals and growing their businesses. On the “Real Estate Locker Room Show” we are getting in the ring with successful investors, developers, operators, and all of the industry professionals to learn what it takes to achieve on-going success. Now it’s time to kick-off and level up with new ways to grow your real estate business.

John Carney: Welcome back to another episode of the Real Estate Locker Room Show. I’m your host John Carney, coming at you today from Cleveland Ohio. Joining me in the locker room is Nick Raithel, who is the creator of The Seven Hour Book. He has a proven system which allows any real estate investor to get their own professionally published book while spending only seven hours of their time doing it. I can’t wait to get into his system here in a moment. With The Seven Hour Book, Nick is on a mission to help investors and others in real estate finally get the recognition they deserve. Time and again he sees those in nearly every community who have incredible stories and knowledge to share. A book is the ultimate way for experts to share their insights, and in doing so, attract new business and investment opportunities. Yet the common complaint always seems to be the same, no one has any time to sit down and write the book. Recognizing this, Nick combined advanced time management strategies with his own experiences in publishing and marketing, the result of which is The Seven Hour Book, a service that’s been delighting clients ever since he released it. His website is www.contentcorps.net, and we will have that link in the show notes. Welcome to the show Nick, how are you doing today?

Nick Raithel: I’m doing great. It’s a pleasure to be here John. Thank you.

John Carney: Well, before we get into the nuts and bolts of your business, I just wanted to say to the audience that this show is really going to cover a couple of things. We’re going to cover the business of real estate and you as a real estate investor, operator or property manager, and combine that with the general business knowledge of setting yourself apart from the competition. Nick provides a service and a product which will allow you to do that and probably accelerate your path towards success. In today’s market, there’s a lot of different channels coming at you, a lot of different media and a lot of people. Nick is going to elaborate on why putting your thoughts and your story down on paper, or digitally, is so important and how it will help you stand out from the people who aren’t doing that. So Nick, welcome to the locker room. It’s great having you here. I like to kick things off usually with a sports related question. Tell us a little bit about who your favorite athlete was either when you were growing up or today.

Nick Raithel: Well, there are tons of good athletes out there. I would say the best answer I can give when growing up would probably be either Alan Webb, who is a distance runner from many, many years back, or Michael Johnson. I’m very into running, distance running, and I remember both of those guys really standing out to me as examples of athletic excellence and pushing yourself to your limits.

John Carney: Do you participate in distance events?

Nick Raithel: I have in the past. I had to tone it down a little bit. I am a little too busy with the books now, but I do occasionally engage in marathons. I’m pretty active and hopefully looking to get more into that in the future.

John Carney: So running for you is something that allows you to kind of check out, think and reboot. Is that correct?

Nick Raithel: Absolutely, and I would add that anyone listening to this, whether it’s running or whether it’s something else, really should, if they’re not already, engage in some kind of physical activity or some kind of sport. Because it does allow you, as you were just saying John, to kind of reboot and get new thoughts and new ideas. It helps to change things in a very positive way. I’ve personally come to believe, for me in terms of running, that running solves everything. And you can just as easily apply that to swimming, a good football game, a good soccer game, a good basketball game, or whatever your chosen sports activity or pastime is. It really can often solve just about anything.

John Carney: I agree with you Nick. Moving is important and it definitely helps me focus on my work, when I know that I’ve gotten out and got some exercise. Ok, perfect. Would you give us an example of the different types of people involved in real estate that you are helping put their story out there in book form, and why it’s so important for people.

Nick Raithel: Sure. Just to start off on an overall macro level, the book really is important in terms of a credibility builder. In terms of something that you may choose to sell, but also in a sense that most people listening to this have probably not thought of, or really taken to heart, in that a book is an SEO play. Just as you John, with your podcast, are appearing on iTunes, which is, when you think about it, one of the world’s largest search engines. In the same way with your book, you get a chance to appear on amazon.com, which is, like iTunes, one of the biggest search engines in the world. So when you have this book out there, you’re putting your own piece, essentially, of real estate on amazon.com and you’re going to show up when people search for real estate related terms. So I would say, on that general level, having a book really is essential in terms of claiming your SEO. Having a website is good for SEO, I’m sure a lot of people out there in real estate businesses are going to really focus on their website’s SEO, but you also need to be hitting these other search engines that have tremendous traffic and tremendous visibility, and you do that with a book through amazon.com.

John Carney: So you’re talking about bringing the book, bringing your story to the public. I want to jump in and say hopefully that’s going to add some tremendous value and help someone solve a problem. And you’re going to weave that into your business, the fabric of your business, because of this additional content you’ve put out there, that you can discuss across your social channels. I imagine you’re going to elaborate on that. This is going to help people find you to do business with you. Is that correct?

Nick Raithel: Yes, absolutely. People can find you and not only will they find you, but you will accelerate the conversation. What I mean by accelerate the conversation is that normally, many of us in business, when we have content out there, it helps people to get familiar with us. So we don’t have to spend time educating them on what we do, how we think and how we do it. Your book familiarizes people with you. They read it, they understand your philosophy, they understand also if you’re right for them. So in a way it also helps to kind of deter the people who might be good people, but they’re just not suited for you personally and professionally, to be working with. So a book helps to really provide a filter too, so that you don’t end up, for example, going to a coffee meeting, driving all the way across town to meet with someone only to find out that: oh, they really don’t have the kind of capital that would be needed to invest with you, or values-wise they’re just not on the same page as you, or the kind of people who you’d normally work with. So it really helps to provide that filter aspect as well.

John Carney: That is something I’ve never thought of before, the filter aspect, instead of just having a shotgun approach, right? By writing a book and really putting down your story, talking about your business and your values and how that molds the service and products you supply, you’re saying that that’s going to filter out the people who really are going to be wasting your time and potentially not interested in doing business with you anyways?

Nick Raithel: That’s exactly what I’m saying. And it comes down to the sense of the book being basically a land grab, in that you’re grabbing your piece of land out there, figurative land, to show who you are and to state that as your claim.

John Carney: So, could you talk to the audience a little bit about the types of real estate professionals that you’ve worked with so far with this business? And let me just elaborate on that question. I’ve written a book called “Real Estate’s a Team Sport”, right? And I identify nine players that anyone needs to know and recruit for their team to position themselves for success. I believe it can work pretty much in any country around the world because, given some semantic differences in the roles, say in like title work or legal, they’re generally the same type of people that you need. But they’re professionals in different professions—legal, accounting, banking, insurance, mentors and the like. So have you worked with a cross section of people through your business that support the real estate industry in a variety of different ways? Or do you just work with investors with different niches in the industry?

Nick Raithel: We definitely concentrated on a pretty wide spectrum. For example, one of the people who I’m working with currently is just your basic real estate agent. He’s got a pretty good practice, doing quite well, serving some pretty interesting demographics, some interesting segments, and we’re helping him to get it out there. This is exactly what we’ve been talking about here with the positioning with getting his foot in the door with the kind of buyers who he’s interested in. So that would be an example of a real estate agent. Another person I’m working with is an investor right now. And he’s looking to not only get himself out there and attract more deals, but he also has some coaching and some other sort of programs that he is looking to launch and do more with so that he can become more than just another real estate investor. Those would be two examples that come to mind John, right off the top of my head. And there are plenty of others who we’re involved with.

John Carney: So we’ll use the real estate agent because they’re very important and they’re definitely a team player that everybody wants. There’s so many different niches that we discuss. Specialties in real estate from the investor point of view. We’ve talked about multi-family operations, multi-family syndications, a few different people in mobile home parks here. But with different strategies. So there’s just so much in real estate that people can learn from. Not only is the book providing a platform to elevate the individual writing it as a knowledge source, but really the target audience is benefitting from that. Can you talk about the type of benefit and the immediate benefits that your clients are seeing by producing a book?

Nick Raithel: Sure. I think one of the immediate benefits comes back to what we were saying about the filter. That’s very important. I think another one is it helps people in the client’s market, who wouldn’t normally think they have a need for the client’s services to understand that maybe they do, or that maybe it does make sense to have that initial conversation, that initial consultation. I would also say, coming back to another point, that having that book allows those who wish to do more than just their current profession or their current niche within real estate, to have that option. Certainly not everyone, wants to be a coach. Not everyone wants to have products that they go onto, but it does give you that option. And in the same way, not everyone wants to go to conferences, be invited to conferences to speak and to present and to be a thought leader, but a book sets you up for that too.

Finally, I would say, in setting yourself up for these other opportunities, it’s also a very good hedge against a bad real estate market. Because when you have this book and you are set up as a speaker and in these other capacities, the real estate market can take a huge nose dive often, and you have something to fall back on. You have something that you truly own, that is your idea and that is your stake in the ground. That piece of land, I keep saying, that piece of land that you own which economy or other events can’t take away from you. If you think about how many people are investing in real estate nationwide, or providing a service related to investing in real estate nationwide, and then think of the amount of people who’ve actually written a book about it, can you talk about how those figures stack up? You might have a little bit more insight than I do. But then, I want to learn about your system and the service that you provide to get someone who says, “You know what? I have a great idea and a great story that I’d like to share, but sitting down in front of a blank computer screen, I’m never going to be able to write a book.”

Nick Raithel: Sure, well let’s address the first one. The first one you asked in terms of the amount of investors and people overall in real estate who are out there, compared to how many actually have a book? I could probably say that if we were to come to any kind of a figure on that, it’s probably quite small. You could probably put them all in an auditorium. It’s tiny. Because most don’t understand everything we’ve talked about here. They don’t understand the land grab aspect of it. They don’t understand the SEO. They don’t understand as well how much they’re losing in terms of most likely actual monetary figures or in terms of losing out on just work time by not having this book.

John Carney: Ok, I would tend to agree that it’s pretty small, and it’s a hard figure out. But I agree that you could probably fit all of the authors who’ve written about real estate in an auditorium, compared to all of the real estate investors who are out there. And like you said earlier, not everyone wants to sit down and write a book. It’s time consuming. So, in my experience, you have to have a bit of a plan. You have to have a reason for writing the book, and you have to have some type of guidance. So, would you share with the audience how your system, The Seven Hour Book, works? When you get people from — I’ve got this story, I’ve had this experience, how do I share that with the public? In my case, I was sharing experience based on a mistake I’d made that was costly. And based on the experience I was having, providing a service and having a number of clients to test what was working and what wasn’t. So I wanted to add value and let people be positioned for success in real estate by understanding that: recruit your team first and learn from their specific professions how to put a deal together. And then you should, while nothing is guaranteed, be positioned to be more successful than if you just go out there and try and do this on your own without any guidance. So when I went through the process I had a specific person in mind that I was kind of writing to, an avatar so to speak. So, I’d love to hear how you help people get from the concept that I do have something to share to sitting down and actually putting the pen to paper or typing away on the keyboard.

Nick Raithel: Well, in answering this, I want to preface this very first by saying that (just so we don’t make this completely a commercial or imperious to your listeners) oftentimes there are people who come to us who find out, just when they really think about it when we help them through it, that they don’t really need a book. Maybe they think they do, but maybe all they really need is just some Facebook ads, or maybe what they really need to do is start a podcast. So there are plenty of benefits for everything we’ve talked about really, for having a book. But then sometimes it’s worth taking a look and really considering whether you actually need a book, or whether or not the needs in what you’re looking to accomplish could be done through some other channel. So I just want to be clear, as we’re getting into this, that people who are listening should consider that. And then if it still makes sense, or then if they’re still set on having a book, then the system and the process that we offer could be a good option for them.

John Carney: So before you get into that: we’re just talking about general content creating that offers value and that has a target audience, as opposed to just sitting down and writing a book. Whether it’s videos on YouTube or Facebook live or tweeting, I mean there’s different — Instagram — there’s so many different channels, correct? But you’re saying that there might be other channels that are more relevant to specific people who don’t want to spend the time and energy to write the book, But this is your area of expertise, so let’s talk about books.

 

Nick Raithel: In terms then, of how we would help someone, how we would help them to do their book, we break the process down into a series of Skype calls (Skype or phone). There are a total of seven hours of that person’s time. And John I want to be clear with that, that when we say that this only requires seven hours of time, that’s seven hours of the person we’re working with, of their time. On our end, we’re spending quite a bit more than seven hours. I mean, I don’t think realistically you could put out a quality book that added value to your market and was positioning in all of the ways you wanted, in just seven hours. Maybe if it was short—really, really short. But it’s just in terms of the size of the books, the quality of the books that we’re putting out as well. On our end we spend a lot more than seven hours. But to everyone we’re working with, all they have to do is log on to Skype, pick up the phone and just talk to us. Walking through a specific process we have that takes seven hours of their time. And at the end, it gives them their own professionally published book.

John Carney: Ok, so there you have it guys. You’ve got a program out there, The Seven Hour Book Program, with Nick, where if you are thinking about reaching a broader audience with your experience and your thoughts on leadership, there’s a platform available to you to do that. So if you’re a real estate agent or an insurance agent, or if you’re working with investors or are an investor yourself, maybe you want to target accredited investors, or you want to boost your audience for syndicating larger commercial deals and you’ve always thought about becoming a thought leader by writing content, there is an avenue for you to do that in the Seven Hour Book.

So, keeping on with the book theme Nick, we’re kind of wrapping this up and we’re down to what I like to call the two-minute drill. I wanted to know what your favorite book is, whether it’s about sports or business. Is there something that you keep close by that you refer to from time to time, or maybe it’s more than one?

Nick Raithel: Well as someone who leads a team in putting out books for other people, my own quote “favorite” would probably be all of the ones that we’ve put out, for all the various investors and other business people. But not to play favorites with that. Let’s talk about then, a book, as you were saying John, that’s related to sports or other things. I would say right now (I do read quite a few books), it’s probably a tie between Arnold Schwarzenegger’s book, his biography is a fantastic read. There’s another book that I think a lot of listeners probably aren’t familiar with from which I like to read motivational text. But the ones that were popular years and years ago, before Tony Robbins, before any of today’s contemporary gurus, before motivation and personal development really became an industry, back when it really was just people putting out wisdom and ideas in the hopes of empowering others. And from that earlier time, I would have to recommend a book that is called “An Iron Will” and the author is Orison Swett Marden. It’s a fantastic little book, it was written probably, if I’m not mistaken, in the late 1800s. So it’s a really old book. When you read it he has examples of motivation and of people who overcame tremendous odds. We are talking about people like Napoleon and Cyrus W. Field, who is just a fascinating figure. He was responsible for laying the first cable under the Atlantic Ocean and when you hear about his story and the number of times that the cable snapped, and all of the grit that he mustered, well it’s inspiring to say the least. So that would be probably the other book I’d recommend.

John Carney: Iron Will. I’m going to log on and buy that immediately when we’re concluding this interview, because I can only imagine that a book like that is going to provide you with such a different frame of reference, which I like to apply to any type of business problem or child raising problem that I encounter. I mean, laying a cable across the Atlantic Ocean with no phones and no radios and simple navigation and probably wood boats would be a challenge. And I’m sure that it took a lot of time to get it right. So thanks for that suggestion. And a side note is that I’m compiling an amazing reading list for the listeners and for myself by conducting these interviews, so thank you for that.

So, you’re a reader and you’re an active runner and you’re running a business. Can you talk about a motivational quote that helps you get up on that rainy day and go for a run, or keeps you moving when business is throwing obstacles at you?

Nick Raithel: I listen to quite a few motivational sources and come into contact with many, many different good quotes, especially from those books we were talking about. One of the ones though that really has stuck in my mind recently is a quote I heard from Walt Disney. When you consider everything he had to go through and all of the obstacles he was up against in, basically, creating an entire universe, if not worlds on worlds with his Disneyworld, with his characters and all of those, and basically inventing the medium of animation as we see it today, I really take to heart much of what he said. And Disney’s quote is that all of us have the ability or the freedom to pursue our dreams and to achieve our dreams if we only have the courage to take that first step. I’m paraphrasing it a little bit, but that’s essentially what the quote is. That if you’ll just get out there and have that courage and get started, that you can have and you can achieve anything you want.

John Carney: That’s a good quote and I’ll make sure we have the full quote up on the post-game report on the website. Alright, before we sign off and in following along with the theme of this two minute drill, could you share your number one ‘come from behind’ victory with our audience?

Nick Raithel: I would say, like any entrepreneur, I’ve certainly had a fair share. One of the ones that comes to mind pretty recently would be being behind in terms of the workload that we had. I can remember various times recently when we’ve been behind or we had more on our plate in terms of catching up, responding or catching up in terms of completing work on our end. Putting our deadlines pretty far ahead and really just being able to use time and just sit down and realize that this has got to get done, our clients are counting on us, and kind of pulling out a victory in that sense.

John Carney: Finding the time and that boost to motivation to deliver. Happy clients, right? We all want them.

Nick Raithel: Sure. I mean it really comes down to something I remember hearing Charles Mumber say, which is just the importance of providing the kind of service that you would want and the kind of service that makes you deserving of the people you help. And that’s something that has stuck with me that we always aim to do.

John Carney: Excellent advice for any businessman and entrepreneur out there. Thanks for sharing that Nick. And thank you for joining me today in the locker room. Where can the audience find you to carry on the conversation online, offline and social media?

Nick Raithel: It would be at www.contentcorps.net.

John Carney: Perfect. Alright, there you have it folks. I truly hope that you picked up some actionable advice today from Nick. Make sure to check out the Real Estate Locker Room Show on iTunes, Stitcher, Google Play or anywhere that you log on to listen to the podcast, and subscribe to ensure that you never miss out the pro-tips from our guests.

The mission here is to help you elevate your real estate game, and you can do that by providing good content to your clients and the greater audience. If you like what this show is about I’d be grateful if you would leave us a review on iTunes, or your preferred podcast platform, so that other like-minded real estate investors just like you can find us when they search for real estate online. The post-game report show notes, links and additional content related to today’s show with Nick will be available on my website: johncarneyonline.com/podcast

While you are there, feel free to drop your email into the newsletter sign-up form to receive more real estate investing insights, tips, tricks, hacks and other good stuff. Remember to stay focused on your goals, have fun and stay in the game. I’m your host John Carney and until next week, work hard, play hard and profit hard. Thank you one more time for taking the time out of your busy day Nick to share your story and a little bit of insight about your business with our audience.

Nick Raithel: Thanks a lot for having me John, and keep up the great work you’re doing with the locker room.

(Music Out)

End Audio

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JC 002: Multifamily Syndication, Teams and Giving More with Joe Fairless

March 29th, 2017 | no comments
Meet Joe Fairless; real estate investor, multifamily syndicator, philanthropist, author and host of the world’s longest running daily real estate podcast, The Best Real Estate Investing Advice Ever Show.

 

Joe started his career in advertising on Madison Avenue in New York City. He began researching real estate as a way to achieve financial independence.

In 2009 Joe began investing in single-family homes. Joe wanted to scale his real estate investment business and focused his attention on multifamily buildings and syndications as a strategy to grow bigger, faster. Now Joe controls over $85 Million in multifamily real estate.

Joe competed in baseball and football growing up and played football in college. The lesson that he learned sports that he applies to real estate every day is that when something bad happens, learn form it quickly and move on quickly.

Favorite quote, “the secret to living is giving”

Check out Joe’s book, The Best Real Estate Investing Advice Ever. Volume I

Tune in and subscribe to Joe’s podcast, Best Real Estate Investing Advice Ever Show

You can reach out to Joe directly by email to info@joefairless.com Don’t forget to mention that you heard him on John Carney’s podcast and receive your FREE APARTMENT RESOURCES GUIDE.

Thanks again Joe for taking the time to share your story with us.

POST GAME REPORT: Episode Transcript

The Real Estate Locker Room Podcast

JC 002 Multifamily Syndication, Teams and Giving More with Joe Fairless

 

Announcer:  Welcome to the, “Real Estate Locker Room Show” with John Carney. Did you know investing in real estate is a team sport? Join John and his team as they explore the business of real estate and athletic competition. The goal for this show is to grant you direct access to the real estate pros that are closing profitable deals and growing their businesses. On the “Real Estate Locker Room Show” we are getting in the ring with successful investors, developers, operators, and all of the industry professionals to learn what it takes to achieve on-going success. Now it’s time to kick-off and level off with new place to grow your real estate business.

 

John Carney:  Hello and welcome back to the Real Estate Locker Room Show. I’m your host, John Carney, coming at you from Cleveland Ohio. Joining me today in the locker room, from Cincinnati Ohio, is Joe Fairless. Joe is a real estate investor, a podcast host, a philanthropist, and author. If you’re not familiar with Joe’s show on iTunes, it is the world’s longest running daily podcast for real estate. It’s the Best Real Estate Investing Advice Show. Joe has interviewed Barbara Corcoran, the author we all know so well in the real estate world, Robert Kiyosaki, as well as hundreds of other high profile and influential real estate investors. His podcast has over 4000 daily downloads, and 140,000 each month. And we’re up to episode #771, so check that out. Along with being a Podcast Host, Joe is also the author of, “Best Real Estate Investing Advice – Volume 1.” which we can talk about. I remember seeing that release, it blew-up Amazon. So, check out his book as well. Klout considers Joe the top 5% online influencer. Joe is an active, full-time real estate investor, who controls over $54 million in real estate at the moment. His focus is on multiple family. How are you doing Joe? Thanks for taking the time to share your experience with our audience.  

 

Joe Fairless:  My pleasure. Nice to be on the show. I know that you are a little under the weather. So, I will try to talk as much as I can. That way you don’t have to talk. I am really looking forward to our conversation.

 

John Carney:  An all-around good guy, thanks for that Joe. All right, we’re here to explore the intersection between elite sports and elite real estate investing. I like to stretch out, as with a sports related question? Who is your favorite athlete of all time? And why?

 

Joe Fairless:  Well, I’d say, the first person that comes to mind and it’s a little ridiculous, but Mickey Tettleton. He was baseball player who played for the Detroit Tigers, the Texas Rangers and probably others. He just had a funky batting stance and I just really enjoy how he approached the game a little bit differently. Because he had a batting stance where you know, you typically hold the bat upright, right before the pitcher throws. But, instead he had it just parallel to the ground. And then he would bring it upright, right before the pitch came. And what I liked about that is, it’s different. But, yet he was effective non-the-less. I think applying that in our real estate business is certainly noteworthy. Where we can approach things differently but then be just as effective, or more effective as before anyone else.

 

John Carney: I’m not familiar with this player and his batting stance, but I will look that up here shortly. You transitioned from the advertising world in New York City, to full time real estate investing. I’m interested in that journey, how people make that transition. Do you mind sharing your story about, “why real estate?”

 

Joe Fairless:  Yes. I am from Texas, where I graduated from college in 2005 from Texas Tech. as an advertising major and then went to New York City. I went from, cows and cotton, to concrete and I guess, no sun and lived in New York City for ten years. I worked on Madison Avenue after college, which is very prestigious, but it is also code for, I didn’t make any money at all because I was in a very competitive environment. I climbed the corporate ladder, became the youngest Vice President of a New York City advertisement agency and then, at the tail end of my advertising career, I started investing in real estate. The reason why is because I knew that I had to invest, I had to learn about investing, but I didn’t know quite what to do? So, I ended up reading a bunch of books, went to online forums, talked to people I knew and found real estate investment the choice that I wanted to pursue. Once I did that I started looking at what I wanted to invest in. Initially I bought single family homes and in 2009 I bought my first house. Not because I had a crystal ball, and I knew it was what the right time to buy. But, because I didn’t have any money. So, in 2009, I was very fortunate, I didn’t have any money until 2009. And once I bought in 2009, I bought my first house, $76,000.00 that rented for about $1100.00 or so. Rent is around $1200.00 now. Went for $1100.00 to $1200.00 now. I bought three more houses, and then realized that it just wasn’t happening fast enough. I would make $250.00 a month, on a house. And then a tenant would move out and I would have to pay, meaning me, would have to pay $5000.00 for move-in ready costs, the carpet, painting, and misc. fixes. There would be my profit that was going to be wiped out for a year and a half. I thought, wait a second; this isn’t going to make me financially independent. I’ve got to think of a different approach. I started studying multi-family investing, learned the process, bought a lot of books, started talking to a bunch of people. I ended up leaving my full-time job while I was still studying, multi-family investing. Well, after I left, I left because I just wasn’t digging it anymore and life is too short not to do stuff you enjoy and let it go by. Therefore, I started looking at syndication where I raise money from investors in my apartments and share in the profits. Because I couldn’t get approved for a mortgage for a house. And I couldn’t get approved for a mortgage for an apartment building. Because I didn’t have a W2 income. I was kind of forced to find creative ways to buy apartments, and that’s what I did, I wrote and learned how to raise money from investors. By getting something together, and share in the profits and now, you mentioned $54 million, it has actually increased, to $85 million, since the last buy out. So, now I control $85 million-dollars-worth of real estate. That is, apartment communities, that’s like 99% of it, apartment communities. I still have three homes but most of it is apartment communities and they are in Dallas, Fort Worth, and Houston, Texas.

 

John Carney:  Congratulations. So, you got into the single-family home game. Which is where, I don’t know? I’ve never really made this comparison before. But right now, up in Cleveland we’re in the ALS, so I’m thinking baseball right?

Yes, in order to get to the ALCS, all these guys started in Little League right? So you have to start somewhere. Would you say, the single-family home experience taught you what you needed to know to raise the bar to the next step because that’s part of the progression of being a real estate investor?

 

Joe Fairless:  Yes, I’d say it taught me what I needed to know and to learn more about it. It taught me that real estate is the way to go, for my own purposes. And it taught me that what I was doing at the time wasn’t going to be scalable and wasn’t going to help me become financially independent. I created a spreadsheet for my homes that included a home, I think it was like a home a year, 3 homes a year that I was going to buy. And over ten years it was like, oh, my god, stop the madness. Because I bought four homes, I was having a hard time keeping track of all the paperwork that’s involved with the property management, the insurance, the taxes. I was like, I do not want to scale this at all. And, I want to pause, by saying you can make money doing that approach by the way. People have and they do. I just didn’t want to set myself up with single-family homes. So, it inspired me. And gave me some perspective for what I did want to do.

 

John Carney:  Right. We both know people who have enormous single-family home portfolios. And a big key to that is, a big key to everything is management. You decided that your niche was going to move and we come across that all of the time too. You know, we are talking about sports, what athletic competition were you involved in, when you were growing-up?

 

Joe Fairless:  Well, I primarily played baseball and football. I played a little bit of football in college at a small Division III school. I primarily played baseball and football.

 

John Carney:  To be a collegian athlete, in any division, requires a certain amount of discipline. When you left the competitive sports arena of college did you see that it helped you apply what you learned through the discipline of sports and in your first job, and translate that right into real estate.

 

Joe Fairless:  I think what it taught me the most is that when something bad happens, learn from it quickly and move on quickly. That’s what so many people get caught up in. I’m on a softball team right now and I see people on my softball team and they make an error, or they strike out and when they strike out, they should kick themselves off the team… it’s soft pitch, when they pop-up, or hit a grounder…and they’re pissed off for four innings. It’s like, dude, get over it! Immediately, learn from it and get over it, immediately. Otherwise, you’re going to let that influence the rest of the game and they’re going to be compounding negative consequences. And that’s what I apply in business too. When stuff goes down, which happens weekly. Something goes wrong weekly. Sometimes daily depending on what’s happening but at least once a week. We got to learn from it quickly, and then move on.

 

John Carney:  I agree, it’s a team effort, real estate or business. And whether you’re buying apartments or selling doughnuts you need a whole team of people to help you be successful. .

 

Joe Fairless:  Yes, I read that in a book somewhere too, but I forget which book?

 

John Carney: It’s really the same.

 

Joe Fairless:  I’m kidding, it’s your book.

 

John Carney:  I know. Doughnuts—that’s what got me, I just can’t come up with the doughnuts. I just moved back to the states. Now we have a Dunkin’ Doughnuts around the corner. So, of course I had to try that. But, along the lines of what you just said is something that I learned recently. And maybe it’s something we’ll, it was the way it was phrased? “A bad decision made quickly is better than a good decision that takes a long time to plan.” And this can be applied to when you have to make a decision quickly. If you don’t have all the time in the world, make a decision and if it isn’t the best decision at that time, you still have time to adjust.

 

Joe Fairless:  Yup. I agree with that for the most part. It depends on how high the stakes are? Sometimes it takes a little bit more. But, one of my favorite books, is, “Blink” by Malcom Gladwell. He talks about how he can a split decision, an informed decision in the blink of an eye. That is just as informed as if we’d spent months, years, pondering what we would or should do? Our eyes very much embrace that philosophy for the most part.

 

John Carney:  Malcom Gladwell’s fantastic. I like all his stuff. What are you working on right now? I think you might want to share with us, I guess?

 

Joe Fairless:  I’m working on a couple of things. I mean, the three ways I make money. Because let’s start there, and then we’ll talk about a couple of projects. Three ways I make money –

 

  1. By doing multi-families syndications. Where I raise money from investors and invest and put up a little bit of my own money on the deals. And then we share in the profits. We are under-writing multiple deals. Well, more than multiple. Lots of deals right now. My business partner is in Dallas, as we speak, literally as we speak. He’s in Dallas touring properties that we’re in the final found on. And so, I’m focused on that and getting my investors prepared for the next deal.

 

  1. The second way I make money is through my Podcasts. And really, when I say make money it’s pretty much break even, depending on my staff salaries. But, it is, a way for me to provide thought leadership, to learn by interviewing people like yourself and others who are very experienced, or doing something very interesting. And just keeping my mind sharp. So, working on continuing to optimize the Podcast, and getting the word out there.

 

  1. And then the third way, I make money is through my client consulting program. I have private group of clients that I walk, hand by hand through the multi-family syndication process. It’s a major amount of my time. So, I also am working on new content to continue to keep that program refreshed. My team and I upload a new piece of content each week to the resources site that my clients have access to.

 

Those three revenue streams are what I use to guide my months, my weeks, my days. In terms of what I focus on. Those are some of the projects.

 

John Carney:  Okay. And in each project, or each income stream I would imagine has a unique team allocated to that right? So, I mean, what they’re investing in, in real estate. Where you’re providing a service, like consulting service. Or you have to surround yourself with a group of people, correct? And would you look at those teams, as one big team, or individual teams, or how do you manage that?

 

Joe Fairless:  There’s overlap, for the most part. I have my administrative assistant, Samantha and I have my content creator, who helps me with the content and thought leadership, that’s Theo. He’s a Co-Author of the book with me. And we’re writing another one right now together. He and I and she and I, all three of us, overlap on all three of those revenue streams. As far as other team members go. I have team member who finds interview guests for my podcasts, as well as does the show notes and does the promotional efforts. And I have a team member who does all the editing of the podcasts. So, those are the four team members that are on my payroll every month. And then misc. contractors. Like, someone in India, who does SEO for me through UpWork.com. And some social media company that handles social media and things like that.

 

John Carney:  Got it. And I mean today, in today’s world, stay on track with real estate. You look at it like a business, the business of real estate, and being an investor. And you want to grow and attract money, right. Because everyone runs out of money. As someone put it recently, you have your internal/external team. The external team being your professionals, like, your accountants, and your local lawyers, your internal team being like, partners, mentors, and assistants. So where do you go when you have profile. How do you fit a profile into the mix if you’re starting out as a real estate investor and you want to raise the bar, build your portfolio, in whatever niche you’re in and take it to the next level? Would you recommend that raising your profile in your community is something you ought to look into doing?

 

Joe Fairless:  Yes. Help me understand what you’re asking?

 

John Carney:  You’ve got your team, and you’ve got your businesses up and running, but you’ve also built a great profile in the industry. When it comes to people who are investing in real estate, investors who are new or wanting to scale up. I just wanted you to touch on adding to your profile. You spoke about social media management and some content creation.

 

Joe Firless:  I think the most important thing when you talk about building your profile. Or building your brand, or creating awareness for yourself and your company is to find one platform that comes natural to you, that you enjoy posting on and own that one platform. One of the mistakes people make, is try to be everything to everyone all of the time. That’s huge mistake, because any one of these platforms, Instagram, Twitter, Facebook, a blog community, YouTube, iTunes, Amazon, has millions, upon millions of people to speak to and to connect with. The mistake people make is that they want to be everywhere at once. They water down their message and don’t focus on one thing. Just focus on one thing, on one platform that you enjoy posting on. Provide thought and leadership to your audience once you define them, and you’re going to over time, build a following. That’s going to translate into the direct business results.

 

John Fairless:  That is great business advice. So, I guess that’s what carries us onto the next question that I have. If you’re a rookie real estate investor, or a newbie that might have one deal or two deals under their belt and are just thinking of doing exactly what you did in your career—and that is, they may burn out on the corporate ladder side or just need a change of pace or might be wanting a move from a warm climate to a cold climate, or visa-versa—what advice would you have for them to kick-off and get started?

 

Joe:  For someone starting out? I’d say, make sure that you know the basics of what you’re looking to do. Whether it’s a single family, or multi-family, or storage units, or office retail, industrial parking, or whatever? Learn the basics through books, and online forums. Then, once you know the basics. Identify people in your area who are doing what you want to do, reach out to him or her, or them, attend meetings. Speak to them, and get to know them. Buy them lunch, buy them dinner, buy them whatever, a book, or whatever. Add value, be very grateful and appreciative for their time in meeting them, the time they are spending with you. Be respectful of their time and go with an agenda. Have a focused conversation, make sure, if the meeting is for 30 minutes, you meet for 30 minutes. If they can stay longer, then by all means do it. But, be respectful of their time and say, “I know we scheduled for 30 minutes, are we good? Do we need to wrap this up?” Stay in touch with them. That’s probably the best way to get things going. I think 98% of the people who hear this, won’t do that. Instead they’ll read some books, do some online forums, listen to Podcasts. Then maybe reach out to one or two people at most. And not be respectful of their time, not buy them lunch. Not go in with an agenda. And that’s what happens and how the herd gets thinned. That’s how some people go to the top, some stay in the middle, some kind of float in between, and some sink to the bottom. So, I’d say fortunately you have an audience who is taking the time out of their day, to listen to this Podcast. So, I’m going to take that into consideration. In what I said earlier, I think a majority of the people listening will do that advice. But, in general the real estate investors who hear this advice, or where told this through some other channel, they won’t act on it. And it’s a shame, but it makes everyone who does that stand out, and be more successful.

 

John Carney:  Right and joining a community that’s actually not as large as people think it is. Or would you agree with that? I mean, that is also sound advice for the people that do listen to Podcasts, your Podcast, this show and the other good real estate Podcasts out there. What a great way to be in a conversation with people and learning something during that commute to work, or when you’re jogging. I quit radio probably two years ago when I was first told about Podcasts and started looking them up. The day I listened to my first Podcast I thought this is awesome! There’s more in it, and it just became a habit. So, when I moved back to the states, they were trying to sell me every subscription possible for radio. I told them I don’t listen to the radio and the guy couldn’t believe it. I listen to Podcasts, man and that’s how I continued to educate myself. Well, cool. That’s great advice Joe. Can we get into our two-minute drill here?

 

Joe Fairless:  Let’s do it!  And we’ll get to the rhythm and point of this interview.

 

John Carney:  What is your favorite sport? Or business book? That you’ve read recently?

 

Joe Fairless:  My favorite sport is, well recently, my favorite sport right now is softball.

 

John Carney:  Softball, okay, perfect, that’s a lot of fun. What about like books? Like, that might not have come up? Correct.

 

Joe Fairless:  Okay.

 

John Carney:  What is your favorite book related to either business, or for instance, sports.

 

Joe Fairless:  Okay, favorite book about business, sports, would be, “Crucial Conversations” and the whole point of the book is that they help you create a mutual purpose when the stakes are high, and opinions vary. And that’s the key, create mutual person and build up from there.  

 

John Carney:  Cool, I’m going to check that out. Is there one quote that keeps you motivated when things get tough? Like that one quote?

 

Joe Fairless:  Yeah, “The secret to living, is giving.” Another cousin of that quote is, “Help enough people get everything they want, you’ll get everything you want.”

 

John Carney:  Perfect. So, when the chips are down. Think about what you can do to give a little bit more.

 

Joe Fairless:  Yep.

 

John Carney:  Got it. Awesome. Do you have your #1 come from behind victory in real estate, and what did you learn from that?  

 

Joe Fairless:  The come from behind victory would be when my first syndication deal, it was about 2 and half weeks before we were supposed to close. We had over $200,000 worth of investor dollars go away for various reasons. And it was last minute. But, I got my one of my existing investors to go and bid what he had originally asked. And it ended up closing.

 

John Carney:  Did that translate into a happy investor at the end of the day.

 

Joe Fairless:  Yes, absolutely, certainly.

 

John Carney:  Going big. Is there any training for success? Like, your number one, maybe habit that you do on a daily basis. That would put you in a flow-state, or is it training for success habit?

 

Joe Fairless:  I have a liter of water with a scoop of wheat grass every single morning. I’ve been doing that every single morning for the last 3 years and it helps me stay healthy.

 

John Carney:  Fantastic. And then the #1 tip for winning more?

 

Joe Fairless: Would be, don’t focus on winning the score. Focus on winning the battle within how good you can be. Because the competition is in others. The competition is how good you can be within yourself.

 

John Carney:  Perfect, alright, that’s great! Well, thanks again for joining me today Joe. We want to be able to let our audience know exactly what, where they might be able to find you if they want to hook up on some social media, or carry on a conversation with you, where are you these days online?

 

Joe Fairless:  You can go to the App Store and just put my name – Joe Fairless, and you’ll find my Podcast, “The Best Real Estate Investing Advice Ever.”

 

John Carney:  And I highly recommend that all of you out there put that on your show list. So, when you’re in the car you can listen to great advice and the great guests that Joe has on his Podcast as well.

 

Joe Fairless:  I also say that if you Email me at info@joefairless.com I have a department resource guide that has all the websites and research places I go to when I’m researching markets, as well as books I wrote and recommend. So, email me at info@joefairless.com and mention that you heard me on John’s Podcast, and I’ll be happy to get that to you.

 

John Carney:  All right, perfect. So, there you have it folks. I truly hope that you picked up some actionable advice today, from Mr. Joe Fairless. Make sure to check-out this program – Post Game Report on iTunes. And while you’re there, please subscribe to the – Real Estate Locker Room Show to ensure that you never miss out on the pro tips from our guests. The mission here is to help you elevate your real estate game. If you like what this show is about, I’d be grateful if you would leave us a five star review on iTunes so that other like-minded real estate investors can find us easily. You can also visit John Carney online at www.johncarneyonline.com, for links and additional content associated with today’s show. And while you’re there please drop your Email into the newsletter sign-up form, to receive more real estate investing insight, tips and tricks, and other great stuff. Remember to stay focused on your goals, have fun, and stay in the game. I’m your host John Carney, and until next week, work hard, play hard, and profit hard. That’s a wrap Joe. Thanks again for taking some time out to share your story with us.
Joe Fairless:  Hey, I enjoyed it, thank you.

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