WS1116: Invest in Rental Properties to Live Your Dream Life with Dustin Heiner

EPISODE 1116

[INTRODUCTION]

[0:00:01.6] ANNOUNCER: Welcome to The Real Estate Syndication Show. Whether you are a seasoned investor or building a new real estate business, this is the show for you. Whitney Sewell talks to top experts in the business. Our goal is to help you master real estate syndication.

And now your host, Whitney Sewell. 

[INTERVIEW]

[0:00:24.3] WS: This is your Daily Real Estate Syndication Show. I’m your host, Whitney Sewell. Today, our guest is Dustin Heiner. Dustin is the founder of Master Passive Income and successfully unemployed. He is a real estate rental property investor who was able to make enough passive income from his business. He quit his job when he was 37 years old. With his podcast, books, courses and coaching, he now helps other people quit their job by investing in real estate rental properties to live their dream life. So, Dustin and I go through some things that he talks about how six-figure automatic business investing in real estate and how he did that, and talking about how… He had some hard times as well. So, he had a job and he got laid off, unexpected, not seeing it coming, had some hard times, but then made a decision where he’s gonna do something about it and knew that he needed to become an investor, so I know you’re gonna learn a lot from his story today.

Dustin, welcome to the show. You seem to have a blueprint of how to make this automatic six-figure investing business through real estate, and I’m looking forward to hearing more about it. I know you’re helping many people do that now as well, tell us a little bit about that or how you got into this business. That doesn’t happen just overnight, usually for 81. So how did that happen for you?

[0:01:32.7] DH: Yeah, thanks Whitney, I really appreciate you having me on a show, I just really, really love real estate. Well, not necessarily real estate, I love real estate, but it’s what it affords me to do in my life. Literally, I quit my job when I was 37 years old, and I called the job is… It’s an acronym for JOB, you’re living just over broke. And so, I’ve always been entrepreneurial. Just growing up, I had a newspaper route, when I was like 13 years old, riding a bike and throwing the papers, hitting the garage doors and stuff like that, but I also had a graphic  website design company, I had a convenience store and a pizza… a skateboard manufacturing business, so I’ve always been entrepreneurial. And I guess because I just didn’t wanna work for somebody else, I wanted to be my own boss, and anyways, I started working for the county government, and so what really got me over the hurdle to actually say, become an investor…

[0:02:31.0] DH: I got a quick story I’m gonna tell you. So, I was working in California at Fresno County, and Fresno County doing technology, just doing regular technology work, and I’m building up my career there, I’ve been to… I don’t know, 10, 12 years there, really great seniority, everything’s going really, really well. My wife, we got married and we’ve had a couple of kids, then eventually we had our fourth child, and I was working, starting my own businesses, I bought one rental property at the time, had out other businesses and my job, so I was really tracking out really hard to get out of all this stuff, and we had our fourth child… And I gotta tell you this quick story. So, after my wife gave birth on our fourth child, I went on paternity leave, now that’s where the dad stays home with the mom and it helps out with the baby bonding. And changing diapers and stuff like that. Well, after paternity leave, I get back and I get back to work and it’s a desk job, and so I’m out of my desk for about a week, and on a Friday at 3:30 in the afternoon, and I get up, I called from my boss’s boss’s boss’s secretary like the top dog.

[0:03:28.6] DH: And she says to me, Dustin, the boss would like to see you. Would you please come to the office? And I said, Okay, sure. And I hung up the phone and I pause for a second ’cause I thought to myself, well, why would they be calling the office… This isn’t normal. And as I sat there for a second, I started thinking back before I went on paternity leave, about a couple of months before, there was some rumor is, there’s some rumblings that possible lay-offs might be coming ’cause the department was running out of money. And I said, “No, I have so much seniority, I work for the government. That doesn’t happen to anybody here at the government.” So, I get up and I walk down the hallway. Now, this hallway is not very long, but every single step that I take, that long hallway feels like it’s getting longer and longer and further and further, and my feet felt like they’re lead bricks because the weight of everything starting to come on me, because I started thinking “My goodness, I actually might be getting laid off… This is not good. The other thing I’ve built my life up to now, I might get laid off.” Well, I take step after step, I get around the corner and I see my boss, a secretary or desk, and his doors closed, and she pushes, says, “Dustin, would you please have a seat?” and I say, “Sure,” and I sit down and she’s consoling me there with her eyes because she knows everything about what’s going on, I know nothing about what’s going on, and as I’m sitting there, my hands get all clammy, my forehead gets all sweaty because I’m starting to think, “Oh my goodness, is this the time that I’m actually gonna lose my job? And if I don’t have a job, I’m gonna be able to provide for my four kids and my wife?

[0:04:53.4] DH: What does that make me as a father? Am I a failure as a father? Am I a failure as a husband as a man?” Well, the door to my boss’s office opens up and it walks the co-worker lady with a piece of paper in her hand and she’s noticeably distraught, noticeably upset, but she’s not necessarily crying, but her world has absolutely been rocked and as she passes me. My boss said, “Dustin, would you please come in?” So, I get into his office and I get laid off, and remember this is the government, nobody gets fired or laid out from the government, but I did. And so, if it happened to me, it can happen to anybody. Well, I take that lay-off notice and I go back to my desk and I paused for a second, and I realized two different things right then and there when I’m sitting there at my desk. Number one, I need to get another job. I need to get another job to be able to provide for my family, so I was really blessed to be able to get another job in the same county at a different department, so I took care of that.

[0:05:44.8] DH: That was great, the same seniority and everything, so I didn’t actually get laid off, so that was a huge thing, the last thing I was… I said, I need to make sure I never let this happen to me again, this is the second I realized this can never happen to me again, from that point forward, I realized I need to now become an investor. From that point forward, I said, I am now an investor, I’m now going to never tell anybody… And if they ask me what I do for a living. What I do is I work for the county. No, I’m an investor from that point forward, I put my day job, bought property after property, after 30 plus properties, I was able to quit my job. So you probably got a lot of questions or wanna move forward, but that’s a quick story of how I literally became an investor. 

[0:05:44.8] WS: So many times, I hear stories like this, and it’s from where somebody reached like rock bottom, right? And it’s like they had to make a decision, they had to make a turning point in their life ultimately, and oftentimes it’s because the family is on the line as well. Like in your case, all those signs led to being laid off and all of a sudden. And you knew you had to make a change. What was it about becoming an investor though, like You could have just went and got another job, what was it about being that investor that made that difference to you even just mentally? I don’t know that that’s what you needed to do.

[0:06:56.2] DH: Two words really came to me because in working a job, I work an hour, give on page one, or I have a business, convenience store, I have many bosses, all my customers are my bosses, if they don’t come and they don’t get me money, I don’t make money, two words were passive income. When I bought my first property, that made me a minimum of $250 a month, I think it was like $380 was my first rent paycheck for rent from my property managers without doing a thing, I bought the property, built the business made sure that I did it right, and then had other people run the business, and when I made money without working, I said I need to do more of that. And so, from there, I scale the business where I bought more and more and more properties, I refinanced homes, I did it, lots of other things to realize, as I realized that if I just keep scaling this business, eventually I’m gonna have enough money where I don’t have to work a job, ’cause what it came down to, if, I realized, if I would buy one property that may be $250 a month, that’s $3000 extra a year without working…

[0:07:54.1] DH: 10 properties is $2,500 a month, that’s $30,000 a year. 20 properties is $5,000 a month. $60,000 a year. I just saw the math and I said, I just gotta buy property after property. Because I realized my boss and everybody listen to this, you need to realize that your value is more than your boss could ever pay you because your boss is only paying you enough to keep you working without quitting, but not so much that it takes money out of their pocket, so I realized I needed to become an investor. 

[0:08:20.0] WS: Awesome, most people don’t know all that and realize that, right, early on, Or it takes a little bit of searching. I know years ago, I was searching ways to something them in my income as a police officer, and all of a sudden real estate coming up and I realized that not only had one or two people built wealth in real estate, but millions of people had invested in real estate and minimal wealth in real estate, and I thought, “Okay, if they can do it, I can do something, I can do something to supplement my income.” So I know that’s what you’ve done now, and surpassed that in many ways, tell us a little bit about how you grew into the business you’re in now, had the investor mindset mentality, then how do you get to the first project? 

[0:08:59.0] DH: So usually, and I coach a lot of students how to do this and with friends and family members, that’s really what got me to where I started teaching this, ‘cause I had friends and family members asking me, ‘How are you quitting your job? And what are you gonna do?’ I said, ‘Well, I don’t need to do anything. I got real estate.’”

[0:09:12.9] DH: And so, the hardest part is getting that first property. But if you step one quick step before that, it’s building the business first. Now, you’re gonna hear me say this all the time on everything, everywhere – podcast, YouTube, everything that I do. Build the business first. Now, what most people will teach you is, okay, you can invest anywhere in the country, what you do is you find a property, you run the numbers, make sure you’re gonna make $50, $100 a month, on passive income, then you buy it, then you fix it up, give it to somebody to rehab the property, then you find a property manager, then you find a tenant, and then you rent out the property. In my opinion, that’s almost backwards. What we do here at Master Passive Income is we literally build the business first. Now, to give you an example what that means, so if you’re gonna start a convenience store, everybody ever was a lot of convenience store as candy bars and sodas and all that sort of stuff, well, you would not lease a building, open the doors, I put a box of candy bars inside that building, you did that you would lose business, you’d be out of business in two seconds.

[0:10:08.9] DH: No, what you would actually do is you would build the business first, you get the gondolas, shelving units, we’ll get the countertops, cold storage, bank machines, bank accounts, cash registers, employees, you’ll get all of that before you put any inventory into your business. Same thing with real estate, we’ll build the business first, and every piece of property, your property is not your business, your business owns inventory, and every piece of property is a piece of inventory that you put into your business. And that’s how you’re able to scale the business. So, this is what it looks like with rental properties. We don’t just buy a property and then hope to find other people to do all the work for us, we make sure we account for everything, and we hire experts in that area, whichever area I lived in California, when I first start investing. I invest in Ohio, now in Texas, Arizona and Ohio, as well as where I invest and my students invest all over the country, but what we do is we give you a big broad overview, we look for inventory in any city, it doesn’t matter where you live 1000 miles away, we make sure there’s plenty of inventory, just like if you’re starting a business, you don’t wanna start a business selling candy bars and you can’t get a candy bars, so you make sure this inventory, once we know there’s inventory, we pause that, and we start building the business, we find property managers contract as wholesalers, roofers, inspectors, insurance agents, we literally do everything in the business before we buy a property.

[0:11:28.6] DH: And here’s the reason why we do that. Number one, we have experts that are gonna tell us, Hey, this is a bad property, or this is a good property, experts are gonna tell us how much we can rent the property for, an insurance expert can tell me how much our expenses are gonna be… Our mortgage expert is gonna tell us how much are mortgage and be… And here’s the great thing about rental properties that I realized was, I don’t pay my taxes, I don’t pay my insurance, I don’t pay my mortgage, my property manager, I don’t pay any of that stuff, I have my tenants pay for that now the money goes through me absolutely, but I don’t have to work a job to pay for that, so I add up all of these expenses, property manager, mortgage interest, all that stuff, and that’s my expenses. It’s a business we’re running a business. Those are expenses, and then I ask my property manager, who’s the expert… Zillow is not the expert red fine, they’re not the experts. People on the ground. Those are the experts. So I asked the realtor property manager, how much can I rent this property for, let’s say my total expenses are 1000, and they say, Hey, this property you can rate for 1300, so I like one or 1000, I can rent it for 1300. That difference is 300 and passive income. Great, I’m gonna go ahead by the property, so you’ve probably got some other questions, but that’s what we do, we build the business first.

[0:12:27.0] WS: Now, love that analogy to the convenience store, and that makes a ton of sense. Could you go into depth a little more though, on the building, the business portion, anything else that’s crucial to have built before you actually purchased that project, purchase that first property. 

[0:12:51.0] DH: So, a lot of people that I talk to, even my students, ’cause I do one-on-one coaching, I have group coaching, my students, they’ll look at it area, and then they’ll start thinking, okay, the way to build my business… And this is absolutely giving it to your question, they’ll say, I found three realtors, they’re sending me a property of the property, I said, Whoa, whoa, whoa, slam on the breaks there… Do you have a property manager yet? No, no, no, I’ll get that, no, no, no, no. You don’t do anything until you get that property measure. Now, people that do it the wrong way, where they think, I don’t get leads, I need to get a house so I can put offers on. That’s almost the last… What we do is we build the business first think of it like a football team. Your number one position is arguably your quarterback, they’re gonna help you to score make money. Your property manager is your quarterback, your star position. In your entire business, if you don’t have a property manager, you’re gonna find out that maybe you’ve bought a property and nobody wants to manage it because it’s in a bad area, or you have no idea that you… Oh my goodness, now it’s not gonna rent for 1300, it’s only renting for 900, ’cause I just trusted Zillow. So what we do is we make sure we have the experts on the ground, so once we know there’s inventory, we pause the idea, we still look at properties, but we pause idea of anything we’re gonna buy, we find property managers, we find mortgage brokers, we find insurance agents, we find all these people in the business so we can know what our expenses are going to be before we buy the property, now the people that do it wrong where they just find a realtor, Find a property, buy it, then find somebody to fix it up, contractor then find a proper… When they do it that way, it gets set up and they’re like, Oh my goodness, this rental property business, it’s horrible, like these 2 AM phone calls, blah, blah, blah. And then I buy it from them. They’re like us, just take it from me. I hate this property, I don’t wanna be a landlord at ever again, I’m like, Well, thank you, go ahead, I’ll buy it and I put that into my inventory, so that’s what you need to do. Build the business. Property managers are you’re number one, then we have wholesalers, I person like whole sellers more than realtors, they work really, really hard for me and make me a lot of money, but then everybody else in the business, we gotta build that up before we buy any properties.

[0:13:23.8] WS: Makes a ton of sense. Especially when you’re at a distance, like you are right, you’re not right there, and I think that’s almost a pro more than a con, more times than not, you’re not trying to go do all those things yourself, right, just put that wall up here, you can’t… And so talk a little bit about how you’ve built that automatic business, like you talk about what are some of the things that you put in place that just make it more automatic? 

[0:15:18.0] DH: Yeah, so Systems and processes are huge when you’re building a business, to make sure that the people that you’re hiring these experts in these areas, we wanna make sure that they have everything in order that we want our business to run, so when you’re gonna get this…I don’t work 30 minutes a day, I don’t work 30 minutes a week. Fairly, maybe 30 minutes a month, I just get my property Maginot statement, look at it, make sure it is okay, and set it aside and go back to play with my kids. That’s how I was able to quit my job at 37 years old. Cause I have the experts, the people on the ground doing the work for me, and I’ve already accounted, ’cause people might say, Well, how do you afford a property manager? Well, I already counted for that before we bought the property, it’s already paid for… It’s in the expenses. So, from there, let me give you the business processes and rules. So, to give you one example, when we’re running our business, we wanna tell our property manager do it X, Y and Z, literally like clockwork, you’re gonna do this… This is one example. Okay, property manager rents do on the first, it’s late after the third, on the fourth, they get a late fee and a 3-day notice, once that three-day notice is up, we literally as soon as is legally, you can start the eviction process, and then we follow through the eviction process until they pay literally every penny and all the money for the eviction process, and all the fees and everything, and we do it like clockwork for literally every single tenant.

[0:16:41.5] DH: In fact, this is the opposite, this is literally non-discrimination, we treat everybody the same, and imagine… And you can test this out yourself, let’s say you own a house and you have a mortgage, stop paying your mortgage, you won’t be able to call them up and say, Hey, bank, my son got arrested, I had used my mortgage to pay for that… Thanks. Gonna say, Oh, that’s okay, you don’t have to pay you mortgage. No, no, they’re not gonna say that. We’re gonna say, you can pay your mortgage, or I start in the foreclosure process, so we make sure that our business processes in our entire business from realtors to know what types of properties we buy, the contractors to make sure we’re getting before and after pictures are getting multiple quotes, all these sort of things that we build up in our business so that everybody knows how to handle our business so that we don’t even have to think about it.

[0:17:26.0] WS: Makes a ton. Standout, the thought process of building the business first, right? The process is procedures, and I think that that is also more… I’m thinking about it, it’s gonna help you to have less stress as you’re buying that first project and second project, you’re not having to completely figure out all those things as you’re going, right, building the plane, as you’re flying it as what a lot of people wouldl say. It just makes a ton of sense. What about when are you hiring somebody when are you bringing on a virtual assistant or anybody like that that’s gonna help you within the business?

[0:17:41.5] DH: Thinking of virtual systems? They’re fantastic, ’cause I actually have for master passive income, all the coaching and everything that I do, I have virtual assistants to help me there, but for my real estate investing, I literally don’t… And the big reason why is because I already have in every city that I invest in, my property manager is basically my virtual assistant, so here’s what you do, and this is my role for hiring anybody, virtual assistance, property managers, whoever might be, I hire slow, but fire fast. Meaning, I take my time, specifically a property manager, I interview property managers at least three or four times, like I talk to him on the phone, not just text, that’s how I interview, email… Is that an interview? I talk to them on the phone because there are so many people that call themselves property managers, but they’re not… Or people that are property managers that won’t even give you their time of day, I’ll give you example. Just yesterday, I had a coaching call, one-on-one coaching call with one of my students, he literally in one new area, he called 11 different property managers and guess how many called him back? (Two?) Three called him back. So, imagine if you bought a house and you did everything back where it’s like other people try to tell you to buy in a house, run the numbers and find somebody, rehab it, put thousands and thousands of dollars in buying it… Thousands and rehabbing it, then finding somebody in a property management, Oh, I can’t find anybody to manage the property, what am I gonna do if you do it backwards like this, you’re gonna be stuck, I love to not have any risk as possible… I remove as much risk as possible by making sure I have the right people hiring, so interviewing them, I love with all my students, I literally give them 22 questions that they need to ask property managers and Whitney, this is what’s really funny. So, I have my YouTube channel that I teach how to invest in real estate, I have videos on how to interview property managers, those are the worst watched videos, in fact, they are so low, I get almost no views on but once on finding properties how to get off-market deals and how to get financing, those are up on the top, the most viewed, but the most important one is the property manager, but nobody gets that and they don’t watch those videos.

[0:19:59.4] DH: So for everybody listening, if there was a dead horse and I had a stick, I’m gonna keep beating this because I’ve got so many properties up at people who did this the wrong way because they didn’t do it right, and so I’m trying to just let everybody know you’re gonna do it, don’t be one of those landlords that are like, Just take this property from me, ’cause I will just buy it from you, it would be great, but I want you to be successful as well.

[0:20:20.0] WS: That makes a ton of sense. Property management is crucial, we do the same interview, tons of management companies, it’s just part of the life blood outside of investors in our case. It’s so important. What about when you’re buying projects like this, I ask operators just like yourself, how do you prepare for a downturn, what are your thoughts when you’re buying a project and thinking, Well, we don’t really know what’s gonna happen six months, or a year from now or even tomorrow for that matter, but even thinking through that, how do you prepare? 

[0:20:45.0] DH: I don’t… It might be kind of hard to hear that, but I don’t prepare it in a sense where I don’t think, Okay, if it goes down, this is what I’m gonna do. I’ve already prepared well in advance, I’ll give you example, I started investing in 2006 before the crash. And so, I was living in California, and I said, Oh my goodness, I can’t buy a house here in California and make passive income. So, I flew to Ohio long story short, I bought properties in Ohio. All of those properties may need money when the market went up, when the market went down, and then when the market went sideways, and here’s the reason why, in 2008, when there was the crash, there were so many people who called themselves as investors, they’re definitely were investors but they invested the wrong way, they invested for appreciation, they said, I got a little bit of cash flow, but I also have appreciation… We don’t do that. Those are the people that lost their shirts and they said, I went bankrupt. Well, yeah, because you were over-extended, he didn’t… For passive income, will you invest for a minimum of $250 of passive income from every single property… Now, my properties are literally making double and triple the rent when I bought it in 2006, it didn’t matter that the value went down, it didn’t matter because I had passive income every single month of $250 or more, and the great thing is that’s how I feed my family, I make this money to feed my family, so I made sure I had enough money, so if there is another correction, a downturn, which they’re always will be, there’s always corrections in the market crashes, I don’t know, but I always gonna be corrections…

[0:22:08.9] DH: I really don’t care because my rents will keep going up every single month, but here’s what’s interesting, or every single year, but here’s what’s interesting, people are gonna say, Well, man, if there’s a crash, if there’s a correction, don’t rent go down like… Well, just think about this, in 2008, there was a real estate crash, foreclosures, foreclosures, foreclosures… Just so many people losing their homes. They’re not gonna live in a tent, they’re gonna do something to make sure that their family has a room for the heads… What does the pull of market for renters do? It’s sky rockets, there’s so many more renters, so ramps go up, rents don’t go down when there’s a downturn effect, they go up all that to say, honestly, I don’t prepare because I’ve already got it in advance by making sure I make passive income every single month and don’t even worry about appreciation, in fact, you’re watching this, you can see my kids in the background for amazing kids. I’m literally gonna give these properties to my kids, I’m not gonna worry about selling it at the downturn ’cause they make me money, but I’m gonna give these to my kids as well as teach them how to do it so that they will be set up as well.

[0:23:07.8] WS: Nice, that’s interesting, you bring that up. I wonder if your plan is long-term buy and hold it, help us just think through that a little bit, why that’s your choice versus selling every five to 10 years and 10-30 winning or anything like that. 

[0:23:21.0] DH: So, when I sell a house or property, I don’t make money on it, I love the passive income, so this is why I did. So, my first property, I bought it with cash, and when my wife… We had barely little money, but we use cash to buy the house and I refinanced it and then pull the cash back out to buy that next property, then I refinanced next house and bought the next property. I just kept doing that over and over again. I started realizing, well, if I sell the house, number one, I’m gonna get hit with capital gains taxes. That’s a bummer. Let’s just say it’s $100,000, I’m gonna pack it on 100… Well, capital gains can… Right now is 15%. I know our government’s gonna try to get up to 25 to 30%, so how do I get out of that? Why don’t I just refinance the house, hold that cash out tax free, ’cause it’s a loan, you’re making a loan to yourself and your tenants are paying for that loan, they’re paying for the …principal and interest and everything else.

[0:24:11.4] DH: So I have the cash in my pocket, I still have the property that’s making me money and pass an income that cash now and I now have is a loan tax-free, I go buy another house with that, and then I do it all over again. So, I’m literally just refinancing, holding the cash out and by another property, pull the cash out, then buying another property, when I sell it, I stop making passive income and I stopped getting that equity as it goes up to be able to pull that money back out to buy more property. So, I’ve done this literally 30 plus properties now, so I just now this or Norman over again.

[0:24:40.0] What’s been some biggest challenge to say in the last 12, 18 months for you in this type of business and how you’ve overcome it? 

[0:24:46.0] So, the biggest challenge right now is that it’s harder to find good deals, so we’re investors, and so we make money and passive income. That’s fantastic. Brand, your market appreciation. We also forced appreciate, which we fix up the property and mixes the bayou go up, but another big one is we capture equity when we buy the property, so let’s put it say, the property were 200000.

[0:25:07.8] DH: But you buy it for 180, you captured 20000. That’s the hardest thing right now, is on Opus that idea. There are other ones like building materials are expensive and all that sort of stuff, but getting back to the capturing equity, when you have deals that are really expensive or they’re not deals, but other people are selling homes ’cause it’s a… Seller’s market. Prices are very, very high. And so people are realizing, Well, if I just hold out, I can get somebody to buy a house for my asking price, but what we do as investors, we don’t pay asking price, in fact, we capture equity, so then we then we can refine it to pull that cash back out in equity, I even put money in my pocket as a cash-out refinance in the US it to anything because I was like, Hey. This is just extra money. Let me do that. So those two things, Number one, the other materials are more expensive, so what costs 1000 to do like a roof, repairing a part of the roof, it might be a 1500 or something like that. The other one is, it’s just harder to find deals, that’s not saying there aren’t deals, my students are buying deals all the time, in fact, I’ll quickly tell you, in December of 2019, December of 2019, one coaching student working with me, and from that point…

[0:26:11.7] DH: That’s right before the coronavirus 2020 in March, like four months before. Did that happened from that point to now, he’s literally bought 11 duplexes, 22 units and he’s making 60000, maybe $70,000 a month in passive income. In 18 months, it’s absolutely phenomenal. So, the deals are out there, we just need to know how to find them and how to buy them. 

[0:26:33.0] WS: Dustin, what are some daily habits that you are disciplined about that have helped you achieve this level of success? 

[0:26:38.0] DH: I am always trying to grow, I’m always trying to learn, I’m always trying to figure out new ways to find properties to run my business better and everything, so with all the coaching that I do in the courses and all that sort of stop books and all that, it’s literally because I am an investor and with my podcast, it’s just me teaching how to do this, and so I in order to do that, I need to continually learn, so for me, listening to other podcasts, listening to other audio books, always growing, I also, for me, I definitely read the Bible literally every single day. Rides, my kids, we do a family worship time or would read the Bible together, sing songs and pray, so that’s also another thing, but another big one is, I’m always looking for more deals, every morning I’ll wake up, I’ll drink my coffee after I get out of the gym, I treat my coffee and I look at my email, and wholesalers send me deals all the time, like my inbox is flooded with deals, realtor send me deals all the time, so I’m always looking at properties, and a big one is, if you want to buy a property, you need to put in lots and lots of offers with lots of offers, you need to analyze even more like 10 times as many more offers as you would actually put offers on.

[0:27:45.4] DH: So, long story short… What I do is I’m constantly working in the business, even though I quit it, I’m retired, that successfully employed at 37 years old, I’m never gonna stop working, I love building my business. 

[0:27:56.0] WS: We would have a very similar morning routine… That’s interesting, I appreciate you sharing that. But what about if you had to pick one thing that’s contributed to your success, what would that be.

[0:28:04.0] DH: Its persistence. So, I did it wrong. The first property that I bought, I just found a property manager, remember people, I told you people do this wrong way, I did the wrong way, I found a property manager, Hey, you got a pulse, you say your property manager, can you manage my property within six months she started stealing from me, it was horrible, it was a really, really bad experience, and so I thought I would have stopped there because remember, if my answer’s persistence, if I would have stopped there and said, Oh, through my hands up, it’s just not gonna work. I wouldn’t be where I am today, I wouldn’t have hundred students that literally are where they are today with rental property, so it’s not giving up when they’re set back happens.

[0:28:36.7] DH: I don’t let that stop me. I keep pushing forward because I know that it’s absolutely possible, I just gotta figure this out, how do you like to give back… Oh, I love getting back. So everything from, I serve in my church, I love serving my church, I don’t wanna be a pastor because I don’t like getting paid from the church, I just wanna serve, but also I have my podcast and YouTube channel books, articles on my side, like literally, it’s literally me just giving up so much content on how to do all this stuff, so I’m just giving back, you know what Whitney, I think you’re understanding this, so there are four legacies that I believe that we want to have in our life, so number one, money legacy, so we have enough money to be able to do everything we want, second one is time, having more time back in our lives the third one is relationships, building up your relationships, so that you actually have a solid relationships, the fourth one is a service legacy, and so that’s when I’m blessed and I don’t have to work, I have enough money, I have enough time, I’m blessed with my kids and my wife, so now I can just give as much. Literally my entire time of my life now is just giving back to serving.

[0:29:36.0] WS: Love that, just the thought of being able to be in that place where you can just give back in a massive way, and so many people, including myself, can now think that way because of what real estate has done in our life, and they’re like we said before, it didn’t happen overnight, it took some time to get there. It took a lot of hard work or long days, but it is very possible, and you’re a great example of that, I love the thought behind the six-figure automatic business and what can be obtained by growing a rental property business, like you have. Dustin, Tell the listeners how they can get in touch with you to learn more about you. 

[0:30:07.0] DH: Yeah, absolutely, so I have my podcast, Master Passive Income podcast. Look for that on YouTube as well. I got a lot of videos, but also, I have a real estate investing course that I will literally give to anybody… Literally for free. So, you can text the word rental rental to 3-3-7-7-7 rental to 33777. I would, literally, give it to you absolutely for free. It would show you how to find area a country to invest, how to build the business first, make sure you’re making 2500 a month and passive can have scale the business so you can do it right. I just wanna see as many people invest in real estate.

[0:30:39.7] ANNOUNCER: Thank you for listening to The Real Estate Syndication Show, brought to you by Life Bridge Capital. Life Bridge Capital works with investors nationwide to invest in real estate while also donating 50% of its profits to assist parents who are committing to adoption, Life Bridge Capital, making a difference one investor and one child at a time. Connect online at www.lifebridgecapital.com for free material and videos to further your success.

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