Mastering Mindset and Gratitude for Real Estate Success

0:00You're listening to the John Kitchens podcast experience. This is your host John Kitchens Get ready to gain clarity build confidence and then cover the framework to become the CEO of your Willis K. Business Your journey to seven figures success starts now What's good fellas One big fire under the turkey Yeah What's happening to giving boys I'd be thankful for both of you Indeed, I am grateful for both of you as well same and you know I was like man now nailed it man gratitude edition and I Was talking about I think we had maybe we had go go on you know last week Albie and when we were talking kind of kind of through gratitude and then I threw something else out there, but Had a few people reach out I made a post about from from gratitude. We've all known right, you know Be mose would always hit us with you know, you know the struggle lands when gratitude begins and

1:05Really focusing on some type of gratitude practice and The post that I that I threw out there was along the lines of you know, we tend to default back to gratitude and struggle Why can't we be more present with gratitude in Times of abundance and times of of really the things that we have and man, I'll never forget and I've really been Really good about this ever since doom and chaired Kentucky Derby mastermind we were in Cincinnati. I think it was Cincinnati might have been the one of the first times after Key West after we made the move to exp and and You know that room Tammy pack, you know, Michelle say word go go like The just the who's who was in that room, you know go just everybody, you know, because we went to the Kentucky Derby, you know right after and I remember

2:06Might have been I think we had stuman in there right and he talked about his gratitude practice every morning in his notes The first thing he doesn't into his you know when he pulls up his phone Man, I adopted that thing immediately and gratitude and wins right how you how you start the day and how you book in the day and Man, it's one of the the best things that that I've ever done is the moment I wake up I just start typing or all voice what I'm grateful for And it just what a way to kind of start the day puts things in the perspective, you know, where you wake up You get to travel who you get to see, you know Grateful for the obstacles in my path grateful for you know, you know, you guys grateful for my inner circle grateful for kids family Health mindset, right just everything that kind of comes to mind and I'll never forget man, you know He shared that that was like one of the best little nuggets from a gratitude perspective and a gratitude practice to be able to have And it makes a world of difference in your mindset, especially starting the day

3:08So do you keep a digital like journal of this? Yeah, it's on my notes on my iPhone and some my notes and I just have a note It's a gratitude and wins 2024. I have one from 23 from 22 21 And I just like November 26, 2024 grateful and then I'll just start you know If everything that comes to mind like what are you kind of grateful for in the moment and it's just been really cool, man You know you know students full of nuggets and wisdom that that was that was one of the best little, you know, nuggets that I be able to pull from them Yeah, I do remember now that you're saying that And student have us a little app that he that he He used to do it in he did I think he did create the app G code And so we had that I think at the time when he shared he was using Evernote and then just Evernote got too slow As I was just notes as easy just pop up notes and just just go at it, but he did have the G code app

4:12You know to kind of work through That but one of the G's obviously his gratitude. Right. Oh, I didn't know. Okay. Yeah. I mean I never studied the G code. I saw him talk about it, but never really delve dove into it It's really really good. I mean, you know Garrett Garrett wide has you know something, you know similar with warrior You know faith freedom finance fitness You know, so it's just just kind of the combination of the different equities. Yeah, but it's putting it into a process It's like you know my one of my favorites is house right from the miracle morning And his savers and you know part of that silence Could also be gratitude could be prayer could be meditation could be mindfulness But it's one of those things that you want to incorporate as a habit And that's a really healthy habit especially for us mentally and You know, it's it's really The first thing and we talk about it all the time right in in al we were we were talking with gogo right just the last week

5:14You know the personal development side of things but but really the personal development around the mindset side of things And I'm so grateful for for the work that we all did Um, in that run, you know 12 13 14 15 time frame run that we all went through and Doing the work man Carol Dewick, you know, it's biring Katie Marley Adams, you know Who the mentors and coaches in our life at the time clay mask in our life just just the challenges on our on our mental being and inside of things and You know have an access to being able to connect with his coach Right you look back at those at that time. I mean Wow, you know a decade ago that that you know and we damn sure put the work in like we all did and we challenged each other and it's deep It's some heady stuff, but You know to be able to sit here and kind of the mindset and and I tell you what it does for me and I really been you know

6:17Kind of talking with Leanne through a lot of this and in the visual is is that you've got to be the calm in the chaos And you've got to be still and when you have a gratitude practice a mindfulness practice silence prayer when you have that It allows you to be able to be centered and be still And the visual think about that visual right? It's just like the chaos in the world is exploding around you But you're dead still and nothing can mess with you That's what it means to me when you talk about gratitude mindfulness silence prayer having that Still set having that mindset and having that you know practice You're able to just sit in it and it doesn't bother you I love it. I've tried meditating so many times bro and I struck out and and but the the times that I I've been successful We're only when it was a gratitude based um Meditation It's so much easier for me to just kick into a relaxed mode takes away anxiety

7:17uh stress It's just almost magically just evaporates when when when the center is you know because I studied Buddhism and everything and they they They what they kind of teach is to think about nothing you really shouldn't be having the thought enters in you just let it go back out the other side Thought I struggled with that. Yeah And what's funny is I you know I've ADHD and um and it's hard to focus on anything but When you when I try to focus on nothing I can't focus on nothing But I can focus on gratitude so much it's just so much easier and Because it is a central force of you know central place of a piece And and it can be the difference I don't know if you told the story, but just in the last year I heard the story about the um, you know The holocaust survivor who was was was was was literally in a imprisoned in this cage with about three or four other women

8:18And they were you know literally being treated like dogs They literally weren't it was infested with the fleas they weren't even allowed to like Read their their scripture and stuff like that to hide that from the guards because they would get beaten again And there was just all these things and when they asked her 20-30 years later, you know What got you through it? She said it was it was gratitude and and she they said great What were you grateful for and she said I was grateful for the fleas Yeah And they're like what do you mean you were grateful for the fleas? John if you can tell the story better jump in it is And my coach was the one that actually shared that story with me and that came from you. Okay. Okay. And he Because that's just kind of where where the mindset side of things goes and And in every moment you can find a piece of gratitude and it's just because you know you got to look for it and um

9:21I saw the real the other day is funny right how the algorithms work right you start looking at things and talking about gratitude those things start showing up Audissania The UFC chain for whatever but he talked about his gratitude practice and at the end of the day, right? So that's what you know Dan Sullivan talks about you know right down the at the end of the day the three things that you were most grateful for the day and so Stylebender would was was doing that practice But what he would do is that it forced him now he was looking throughout the day for three things that he could write in his journal at the end of the day So he started it's it's it's the reticular activator. Yeah, right now. You're now looking for it You right like like black G wagon, right like you might not see it You might not think you have seen a G wagon for for years in your market But all of a sudden now you see 23 black G wagons because now that's all you're thinking about And it's the same thing right his reticular activator was fired for gratitude So he would go with throughout the day and it just he said his life changed

10:24Just because he was looking for for things to be grateful for so he could write it down in his journal at the end of the day and I'm with you bro man the gratitude practice is is probably one of the most powerful Powerful you know habits that you can you can really develop because you just start to see things and that's what that's what you know The story about You know you can even be thankful for fleas you can even be grateful for that because that was the Outdoor John like yeah, so so what she said was she said was that Well, why and she said well because if it wasn't for the fleas The guards would have came in they would have found our our scripture and they would have taken it away And we would have never had that moment to where we were able to bond and Share scripture and have that time that really got us through that period and and so she goes If it wasn't for the fleas that would have never happened But nobody would go in there the guards wouldn't go in there nothing

11:25So they had that time they were able to to keep the scripture they were able to to to have that that time amongst themselves To keep them you know one day at a time, you know during during that period of their life Yeah, so powerful dude and so like my my follow-up question to that would be because this is what I'm asking did I love this podcast I write a page of notes every time we do this podcast real like You know selfishly. I'm looking like if it can help me then I figure that it can help someone else But my next question to myself is is what today or my fleas that I should be grateful for right? I mean thankfully. I don't have fleas running around this house, but you know, what are my fleas like when you burn the boats What boats are you burning? Yeah, and what you know, what what are you saying? What are you saying? No and no more to right but What what what are you grateful for? Are you grateful like the real when you go to the next level of gratitude?

12:30It's like are you grateful for those boats you had to burn You know what I mean you're you know what you said is he your particular activator's always looking if you you know in this and I'm doing it I'm committed I'm committed to because I already actually have the journal like I carried around me already I just got to get into the habit of every morning I'm not gonna go just get a cup of coffee or maybe I will get a cup of coffee. I'm gonna sit down Hit that gratitude journal, but it's not always just gonna be the positive good things Of course, we're always gonna be grateful for our children grateful for our spouse or significant other, you know Or maybe it's our our parents or someone that we look up to in our life Those are all positive things, but what about the ones that that fuck with you? One of those things they're like man like If you can figure out a way to be grateful for the flea That's in their bite net your foot What am I teaching what is it teaching me wow? What am I learning from this and her most Her most he talks a lot about this too, right? It's like if if you were to give your kids certain traits that you would want them to have

13:37And I've seen a lot of a lot of you know, you know, I want I want X so God gives me why and and you have to go through that to be able to get That whatever it is and her most he talks about that too, right? So like if you want you know you you want strength Well, what has to happen in order for that to be true? You want peace? What has to happen in order for that to be true? And and so the struggle right because life is uphill and you're either growing or you're dying and so complacency and not The sacrifice and the trade-off those things are never possible and and so I think that's to your point is like what am I learning here, right? So these are all great questions and I think this goes back to what you know, just so freaking grateful all the work that we put in and and just being able to change Changed the way we think and just ask better questions and and better mental models and um I think I told you all because I had about tell you man. I went back and I'm not done yet

14:42But I went back and started rereading the the four agreements um you So good So good and in that you know putting putting that thing into into perspective and and where You know not taking things personally never never assuming And um, you know, well, I'm grateful. I didn't assume this today or right like you can you can kind of work through Like you said those fleas They're they're biting at us every day Yeah, and the other thing since we brought Stoomin up is the force of average which you know, is that that invisible force that That pulls us back to mediocrity pulls us back from our Our our version of our elite self that were At least most of us are striving for on a daily basis and then we get dragged right back down You know There there's no success without the struggle a muscle can't be built without

15:46That tension of tearing it down so it can build back up And we just kind of forget about that sometimes, you know, it's not just about all the You know the the fairy tale life that you know, we we all just you know seem to have compared to other people in the world um We have to keep keep in mind that it's the struggles. It's the tough months in business. It's the man I can't even believe I'm saying this, but I'm thankful for oh 8 Oh 9 yeah, I'm literally lost everything and went deep into debt But why why am I grateful for that? Because in 2010 two short years later through that pain I met you guys and if I hadn't gone through that I probably wouldn't it hit so low of a bottom where I felt like okay All right timeout I can't do it no more, you know, I mean like I need help And I may never reach that had I never Hit that depth of a low and lost everything so it really is and I used to say it all the time

16:50But now I don't know this just gave me a whole new perspective I'm being thankful for oh 8 oh 9 we say well there's lessons learned, but we don't want to learn them again But being thankful for oh 8 Shit I entered a decade to get to where I can be thankful for it Right right But like when you when you when you when you really for real get to it not just say it but like When you feel it in your heart that you're thankful for the for you know The recession that we went through oh 8 oh 9 where everybody lost their wealth and and everything or money You can take on anything exactly That's You realize man if I can make it through that I can do whatever's in front of me like Everything that you have to do gets so much easier when you've gone through something that hard and came out and survived it I mean, it's you know that that is something to be grateful for no question

17:52Yeah, that is man. It's it's Things don't Things that like cause anxiety and and so You know part of that other conversation that that Matt was having kind of sharing with with the fleas He also talked about state of flow and where anxiety comes in and and skills Match is where flow happens. So you got the challenge That is Great But you've got the skill set to match it that put you in a state of flow Where you fall into a state of anxiety is that the challenge is greater than the skills you have to be able to overcome it Yeah, that's where anxiety comes in so so that should be A trigger that should be an awareness of okay. Why am I anxious about this? Why am I concerned about this? What skills do I not have to be able to match this

18:53That's the skills I need to go develop That's who I need to associate with that's the who I need to make the higher suit That's what I need to do. I need to match my skill to my challenge and now I'm back in a state of flow the opposite is When my skills are greater than the challenge I'm facing I get bored and you know Idol time right is not a good thing and What's the that nipsy quote? lyric, you know on a mission, you know the worst enemy is idle time And we find a lot of idle time when we've got skills, but we don't have the challenge to match it And so you know kind of being grateful for that understanding moving into the new year You got anybody listening. I would tell you that if you're bored, you need a bigger challenge You need a bigger challenge and if you're anxious you need to focus on the skill set to be able to to match that That's great. It's so good. Yeah

19:54And we're not just talking about sales skills or or business strategy skills and Things of that nature. We're talking about life skills Skills and empathy being skilled a skilled listener you know Being skilled at becoming aware of a of a situation as it develops and The two of you do an outstanding job of that I feel like I've always You know kind of looked up to both of you guys as you know and and we all have our moments But you know for the most part like that's something I know You know, I have to have a better. It's a kidding the pause button, right? It's a skill Yeah, and you guys have I you know I'm giving you props you guys got You've gotten like Kinder especially you I mean dude you you you're a different person, you know I've seen you handle some stressful ass situations recently where I'm like that Jay

20:56He'd he'd be throwing a boom box off the top floor of a whole Better He's calm as a cucumber. Damn, it might be the psychedelics Those two help So I was it You know at Grand Cardone's Wealthcon last week, right? You talk about grateful um and man, they're just you know billionaire speakers one after another after another after another I want to share a couple a couple of nuggets that The biggest takeaway from the whole event Outside of the fact that everybody's bullish on bitcoin and and there's a lot of really interesting people in the room They're bullish on bitcoin And they're super bullish on multi-family But this one guy that spoke Bob dug and he went from four billion net worth last year to 13 billion In one year, so he had a really good year Um, but he had he had a couple things that I thought you know, you know

22:00He was just talking about his journey, you know, his journey right and going through it It's like man, that's so true. It's so true. It's so true. It's so true You know that you have you know, you said it earlier out. It's like you have to go through you know The only way to success is through failure. That's the path or something. There is no there isn't a strange You have to go through failure to get there But he was talking about your your willingness to take on challenges getting on down and get back up Um another thing You know, he talked about was focusing on impact making a difference But one of the things that I really liked was you know, he talked about wealth and you know Like money doesn't buy you happiness. You have to be productive Overcoming barriers and challenges Knowing that good things are are coming and that good things are happening to you right now And so like his mindset around all this stuff was really was really good another another You know thing you said and I think this goes back to what you were saying earlier John is like you got to educate to activate So like if you want to get activated Get you know, get that education seek what it is that you don't that you don't know whatever's giving you that anxiety

23:00If you educated activates you like once you know when you learn something like oh damn I didn't know I could do that. That's amazing. That's a killer. That's a hack right and so like you have to you You in order to get activated you have to learn something you got to keep moving towards what it is you're trying to solve But I thought there was some really um some really great speakers that you know and I'm doing some big things out there that that you know, it was great. I was grateful to be in the room There's a guy want everybody to write this guy's name down because everybody needs to go do this What was the what was the Duggan guy before you Bob Duggan Bob? Okay, I'm Duggan. Yeah great great great Dude, this is great. You could just tell great human being um So this guy write this down Carlton Dennis K.A.R.L T.O.N Dennis and so you might you know why probably two it's been almost two years now Knowing that you know the the living on the island is you know at some point gonna come to an end And I'm coming back to the states and I have to have a plan for you know number one for me was you know

24:01What's my philosophy on how I'm investing money? You know, we make a lot of money. What's my philosophy? So I started asking people that question. What's your philosophy? What's your philosophy? Trying to learn you know, what what are what are people's philosophies on invest money? And then you know coming back to the states primarily I'm just want to make sure I pay the least amount of tax the you know the biggest expense every person has Individually and as a business his taxes period. So you know That's the you know the first place you know, let's try to it's just like looking at a brokerage Where am I going to be able to keep the most money? Well the exp you get to get paid to be here So it's the best brokerage to be at period but um this Carlton Dennis guy Is a tax strategist and this is something I realized in dealing with a lot of investors that are invested in some of these These properties these multi-family deals that we're putting together Most people have a CPA and so as I talked to someone about the opportunity the investment Then they go to their CPA and you know, they'll tell them something that that generally isn't true or isn't helpful in and in terms of what they're making the investment Most everyone has a CPA. They don't have a tax planner or a tax strategist. There's a big difference in the two and so

25:05This guy Carlton Dennis with a K. He's on he's on YouTube you go to his YouTube channel. It's tax alchemy Um, but you can set up a call with him and I did already did the calls the first thing I did then I sent it to my dad I was like you need to do this it's always joke about you know my dad I'm gonna inherit basically a bunch of damn tractors and fucking trailers and all this shit because he goes to his CPA Where he's like oh you need to go buzz the board equipment and shit and I'm like that listen like there's got to be a better way Whatever you're killing me with all this shit. I don't need it. We're having you don't need any more tractors and trailers. We're gonna have a big-ass auction as we're going to get out of 12 and out of the forefoot shop Full of just shitty used ride off you know to ride off on his taxes, which is fine if you need that stuff But if you don't need it, it's not it's not that's not a strategy um, and so So um, there was a couple things in there um, that was really really helpful the first one and I'm not to get into irisco But it's called 469-9 and it's your ability to if you lease if you if you have an Airbnb that you rent for less than seven days to two people in a year

26:11You can bundle everything and that allows you to become a real estate investor A real estate full-time real estate professional per the IRS code and you can ride off You know in any and every investment you make into multi-family This is something that people make these investments and they don't qualify for the cost seg Which in and years past if it would if you put a hundred grand into Um, you know investment into multi-family you could ride off as much as 80% the first year That's insane right like there's huge huge deduction So you know, so this this guy that you when you have your call with them They're gonna go through it, you know, you know all all the all your income all your investments everything that you're doing And then he broke down Basically into three you know your three buckets Um, let me see if I've good enough. No. Oh wait. I did a call with him later Let's see so You're gonna want to hear this. This is good shit. This is gold right here So basically you have your you know your business owner bucket with your you know Your vehicle's write-offs expenses things you can write off within your business salary all that kind of stuff

27:16And your retirement bucket 401k, you know any type of you know health insurance all these different things You can use for for that bucket and then you know the last bucket is is is a real estate Which they're they're they're big on investing in to real estate and multi-family even single-family and cost segregation and doing all that We said anything you have left over rather than pay tax There's there's multiple investments that they look at that you can invest in that are deductible So you can invest in oil and gas and oil and gas investments you can write off 90% of the investment the first year um Another one is um you can invest in so there's some of this crazy Gas stations if you invest in gas stations you can write You know one one point six was you know What did I write uh 1.6x right off Is what I wrote on that another one is hot one and a half times what you what you invest That's what I wrote down. I have to I would have to confirm with them on that But gas they so they have relationships with all these different investment different companies that they work with in all these areas

28:17So if you have you know if you're trying to get a deduction But you want it you rather make an investment than just buy some shit All of these were ways that they that they look at for for how you can do that So they have another one that's Hollywood movies um And then you can invest in Hollywood movies believe it or not I have no idea why that's tax deductible But it is the heavy machinery one which I I just found I found out about that from John Womber Yeah right before connect con where you can invest if you buy a million dollars worth of equipment that are that's in this pool And then you uh you lease it so you put let's say you put you buy a million dollars with the equipment You put 10% down so you put a hundred grand in you get to write off a million And then the they lease that equipment out and you and it cash flows and then they guarantee to buy the equipment back at 75% of the value So that's another another potential right off and um Was there was one other one? Oh, I guess Now then they had another one that was leasing business equipment Um, and you can you can write off 10x what you put into that

29:21So if you put $50,000 into leasing this business equipment You can write you can write off 500,000 50,000 you can write off 500,000 So there these are all vehicles that are legal by the tax code But this is a tax strategist that's helping you to look at here's your income Here's all your expenses. Here's what you're probably going to end up paying a taxes Let's have a strategy for how we're going to invest money and so that you don't have to pay as much in taxes And that and you know you're talking get that getting down to 10% or single digit Income tax bracket This is not tax advice secret legal professional. We're called this guy Carl Dineson. He'll help you But So that was probably the highlight of the entire event was just you know I don't think enough of us spend enough time You know, we just you know we get the end of the year and we're you know, you know, you you know Okay, what can I do? Well, it's a little bit late. So you know getting getting to with this guy and maybe not for this year Maybe for this year if you're if you have the ability to do some of these things But um certainly getting set up for next year was my biggest takeaway from that entire event Um fan fantastic great great speaker um and just a great great overall

30:22Strategy and it it is resonated with me because I'm you know I talked to a lot of people that have money to invest All of them are using CPAs that none of them had attacked strategist even some of the wealthiest people I know so if you don't have a tax strategist I don't know what the sky charges yet. I think I'll find out on my next call, but I promise you I'm paying it so Start starts with you know, you got to start with you know generating an active income You got to do something to make money get out their cell houses to whatever it takes to make as much money as you can Then you got to learn how to not pay as much of it as possible legally and taxes and invest that safely And you know over the years, you know, it's funny because I you know, I used to you know, I You know, we John we flipped I mean houses you think we flipped In our name I don't know where that money is, but I don't think I I don't think I have I don't think I But I brought you the elements as well You know, so we made a lot of money, but you know, I'll you look up and he's like well, you know 500,000 to GTAT that went to zero and you had you got all these different things that you've made you know

31:26Poor decisions and investing hell. It's hard enough to make money. You can't afford to invest and lose it So what are the safest ways for you to invest reduce your taxes and and build wealth and And you know, we landed on multi-family is that main strategy? But but having a tax strategist I think for everyone is by far One of the things you can do that can you know, let allow you to keep the majority of money or keep Because as you're kind of talking through there, you know, I a default back to It's all about the team, right? So it's it's building the life team. Yep. That's an alignment So we know what what's what's the goal, right? What's the vision? What's the goal? What's kind of the model that we're going to operate within What's our biggest problems? We're going to have the right strategy, right? Right strategy bad strategy. We're solving the right problem And then what's the team have to look like in order for us to execute the strategy within the current business structure model That we're operating within the sort of the goal and the vision. It's an up and down ladder But most people when you say team, they just think about the business. We've got to have the life

32:29team and The tax strategist has to be a part of your life team. Yep along with the CPA along with the book Along with you know, head of marketing also your your fitness coach your spiritual advisor You know your relationship dynamic, right? So you just you just start to look at the things that are important in your life You got to have the right who and this is where I keep coming back to Jim Collins, right? It's the who You hit me with that question the other day. They're like do I do the business model the strategy or is it the who I was like it's always the who It's always the 100% Nothing another little takeaway So they handed these out how to get how to get super rich for for kids, which this one's rigs rigs and Kenley So I've got I've got if y'all don't have Y'all y'all's kids are old enough now. I might not be helpful. But for anybody listening as younger kids There's a credit card company called green light Super bad ass

33:29So so I set up my kids with their own their own credit cards and I'm in control of you know either depositing money Based on the chores that they have and things like that they get paid I can pay them interest on the money that they leave in that account and save it or they can invest in into the stock market So it ought they can choose what stocks they want to invest in and and I can tell them how much they have to invest or not So I can kind of control what how much they're saving versus how much they're spending and so you know I gave them this this book this book to read Both both and I incentivized them by telling them I was gonna get rigs You know, he filled out the whole he needed the whole thing man and Kenley's she hasn't given me her She's done with it, but they did it. They did it all in one day Which I was shocked by the way, but I pitted them against each other I said whoever gets done first is gonna get 500 bucks, which is a lot But I didn't think they were gonna do it And so they both went to work trying to get done first and so um I gave them both 500 bucks To set it up, but they got their own credit cards that you know they can control their their own investments

34:29And they're starting to learn how to you can't you can't save money and and and become wealthy But you can invest money and become wealthy and so teaching them these principles that they don't teach in school I think is you know something that we want you know, I didn't I learned I I've literally lost millions and millions and millions of dollars like if I I would I would Hate to sit down and see you know, and I can think of three things that cost me 500 grand in the last you know in the last 10 years So like how much how much you know as it cost to me by not having a good strategy around money You can't afford to spend your whole life just to just to get money to lose it and or to not invest it You know safely and lose it you know tax people 500k we spent to you know work with the what's the guy's name Joe Garza one of the top tax you know tax You know attorneys in the state of Texas and we find out that IRS is you know or basically the FBI is Great rating his office one afternoon. It was on the news and we're like fuck that can't be good

35:31Right? So IRS we paid him 250 plus we had to pay all the back taxes because his thing wasn't legit You know, so you know, there's you know all these things that you know I'm super conservative now and I used to be super high risk because money has always kind of come somewhat easy You know to make but you know now I'm like now what give me that safe Where's that safety you know the safest way to invest and create well and Yeah, and of course, I got a lot of high risk stuff too, but But but yeah, anyway, so I think that's super important and so another great book 10 extra kids I think that's it's not on Amazon. I think you have to go to his website to order that one Green light green light is the credit card company. You can set up for your kids It's really cool super efficient easy to use the kids have their own little credit debit cards that can use On whatever they want to buy or whatever, but they're also, you know Making choices on what stocks. They're gonna invest in stuff like that. That's super cool, man You know, it's funny kind of kind of thinking through I don't know because I don't think I've shared this with you I've shared it with Al I've shared on a couple other podcasts and stuff and and

36:33You know just just reflecting as a coach And you know just kind of a a thought exercise for for us right, you know October was 20 years for you and I and You know as like you know if I was our coach and I'm coaching these two 27-year-old knuckleheads What would I coach them on and you know, I keep coming back You know, I run different scenarios different thought experiments different thought exercise, but I always keep coming back to this Our business is a vehicle that's moving us to freedom And what I would have beat us over the head with was listen Y'all quit chasing status and focus on freedom Here, let's get clear on what freedom means to the two of you and let's design and build the business in pursuit of freedom now Grateful that we didn't do that because we wouldn't be sitting here today if that was the kids So grateful that we had to go through that 20-year journey to get to this point However, I like I love to share this story especially with with younger

37:36I was I was on with gay dosh's crew last week and I share I shared the whole story this with them and the problem that we were and it's just I think I think it's age maybe and maybe both of us just as competitive as we are I think because we wanted to just beat the shit out of Pam and Barry And and so whatever it took and it took sacrifice it took it took our health it took our relationships It was just it was not good And and it was chasing status and I think getting through, you know, that David's book and I remember you were on the flight Leaving leaving the land from agent to CEO and you said hey, would you rebuild with This with with beyond entrepreneurship 2.0 and my answer would have been yes until that David's book came out And I think I honestly believe you can build an empire off of choose your enemies wisely just off of that book alone I In my soul. I believe you can build an empire just off of that book and The framework that he talks about of going from survival to status to freedom to legacy

38:41Has just really resonated with me and that's the dynamic that I would coached us differently on and I would have been Really hard on us about Dude that status get out of status get to freedom and then because once you get to freedom and this is where you guys are at right now It's now we're focused on legacy and you know, just both of you guys are building, you know The the kinder brand the stasic brand and and and really changing Changing the kids. I mean, just think of you think about this like like like braiding in Carson But now like what you're doing with with with with riggs and kimlie right like just changing the whole dynamic and the psychology of how they look and think about money right and and so Just the man. I can't explain that to enough people Like Don't be chasing number one in your market. Don't be chasing number one for your company Like that's that'll come if it comes But you need to be designing your vehicle and your life team that's going to get you to freedom and because once you're at freedom bro like I know you know a lot of freedom is mindset

39:44But also being able to have the financial means to do whatever you want whenever you want with whomever you want You know as often as you want. Yeah, I mean It's it's so funny because I think back to like you know when we were you know 27 28 and and you know There was so much ahead of us, you know that that you know is like yeah, we'll get to that shit later We're over here building something, you know like but you know and and you know to a certain degree I think that you know we put in an inappropriate amount or maybe the appropriate amount of hours in You know to get us there faster like but I think we just did it the hard way Understanding you know, you know, we're not when I when I you anytime I'm listening to you know I get pitched ideas all the time and you know, you know There's always you know this Little things gonna make money or you know, but I'm always trying to get down to like the the thing that I learned and looking at all the businesses that we've been in is is you know The time investment and the lifetime value of a customer because it's really easy to go

40:48I'm going to go sell this technology thing for I mean that's how we started right we started selling Over the web over the web where you know, we walk out on somebody's website remember when Mike sent that to me I drove to Texas. That shit was so funny But we're gonna sell you know $15, you know over the web You know right and then then what have we learned we learned well the barrier to getting one of those videos Was you had to go to a studio where somebody had video equipment? That long ago was and you know get this video shot and take a couple hours um And so you can't you know you can't sell very many of those because of the barrier for someone to get it done was so high And there's some you know most people didn't even know a video for back then It's like all of these things that you learn along the way when I come back to like you know The business model that makes the most sense is going to be the one where the customer pays you the longest right? So you know, Carson was you know, he was you know funny story y'all I don't even think y'all have heard the story so Carson text me the other day right he was working for me You know, and you know, I fired him because I can't you know, he wasn't ready

41:53So What you know, but I said listen, but I don't care what to just fucking do something You know go do something find something and get excited and go chase something like figure out what you wanted to be You're not gonna know what you're gonna love Anyways, he ends up landing on somehow or another gets invited to um It was Patrick bet david's company pH something so so whatever Uh, I don't look yeah, PHP is that what is I think it is I think it might be yeah, it is I think it is it's pH something. I think it's php Yeah, yeah, php agency. So this is crazy story So the and I said it to you out when we were on the call with them the other day. I think I mentioned it to you But that that morning, you know You know the night before he had sent me a text about php and then I got on with the guy Um from from php that that again, this is Patrick bet's company that he had sold and they had a a tiered compensation plan similar to exp, right? So You know, he was all excited about it. He's wearing a suit tie every day's work until 10 11 12

42:57I mean, he's learning right now like this is the best thing it could ever happen to you But he's in it, you know, and he's you know, he's trying to make sales and you know trying to reach little tiers of You know opportunity or whatever and they're this is the same kind of things that we plugged ourselves into and got coached and trained and you know You know along along, you know our own paths, but um, he ends up, you know, now he's selling life insurance Well, I love life insurance. I think it's great because you know why people don't fucking cancel it Yeah, like anything that you can sell that people get paid for you know The you get paid for a long period of time is a good business to be in and you know We went from selling a lot of real estate and you know, we sell the stories like man. It's great You know, we sold you know 50 you had I remember I don't remember where exactly when exactly it was I remember where I was when I when we erased the board and it was like 55 closings And it was like we had to start over again And it was one of those months where it was a fucking ass weapon and it was just like damn Then you gotta do this shit again like it started over the clock start every 30 days And you know, there just had to be a better way. How do you get paid? You know higher, you know higher per customer and then just one sale move on to the next one one sale move on to the next one

44:02You know and and we evolved and we kept looking for a better way and like it The bottom line is there's multiplication to it where you know We recruit one agent and as long as I say with the company seven years we get paid for seven years with that customer There's no coaching product no residual product no technology product very few that people will keep for seven years It's just a lifetime value of a customer is better at EXP and so when you when you go through all of these things to you know To get to a place where well, okay now there's multiplication We got somebody who tells somebody who tells somebody who tells somebody that's not work. You're doing that's leverage now I got all my time back and and the amount that I'm getting paid per per person is the longest of anything that I've seen in my business and any of the businesses I've been a part of You know the average agent stays five to seven years you you've got Literally your time back and you've got the multiplication factor and you got the lifetime value of a customer That's why this business bottle of EXP makes the most sense all these going out selling widgets this any other

45:03That's great. You can go sell something for $69 a month or $50 a month You might sell a whole bunch of them, but guess what in six months, you know The churn starts coming in right you know, and now I lost 25 customers now. I got to sell 25 to stay where I was at And that we experienced that in coaching was like residual income. This is the best thing we've ever done Till you're two when we started having you know 10 people canceled now you had to sell 10 just to stay back Where you were at and so you know, I'm grateful back to the whole point of this Podcast today. I'm grateful for all those lessons along the way and if there was something I would tell anybody to pay attention to it's it's looking at you know Where you get leverage with your time and the lifetime value of a sale or a customer is the the the highest number Or the longest period of time is where you're gonna find you know the the best business That's that's my two cents Oh, man Well, um, we're gonna wrap up here and as we wrap up I want to show one more thing. I'm great for four four

46:05I think that when I was in my late 20s started getting to real estate struggled for a while, but when I started seeing a little bit of success So I would probably be mid 30s. I was like, you know what? I want to go back to my high school and I want to talk to the High school seniors and I want to speak to them about the things That I've had to learn that nobody was talking about in high school And I have not done that but I got invited by one of my high school Alumni that I graduated with she's a teacher at a different school That's worked like one suburb away from me over here. So at nine o'clock this morning. I went and spoke to a math class And this is a vocational math class like these people are not going these kids are not going to college You know, they did not have good grades like me, you know like They were they're not college bound right like they're going into trades which I love because I connected with them And they wanted me to go talk about why it's important to buy a house versus renting And I kind of went into it, you know, um a bit of a different

47:08Spin on it. Of course, I touched on why it's important. I look I put a picture of my first house. I bought how much I paid for it How much it was worth when we sold it just to give them real high-level visuals. I didn't get real deep in the weeds But at the end of it I ended on on taking care and understanding your money Understanding that leaving your money in a savings account is losing money And when I said that to them they looked they looked cross-eyed at me and the teacher backed me up He's like, you know, remember we talked about inflation class I'm I'm saying all that to say this. I'm going back at two o'clock. So it's it's almost one. I'm going to go back and I'm going to do it again But what I left them with at the end was is that freedom They're never going to experience freedom if they don't learn how to take care of their money I never learned how to take care of my money until way late in life And I you know, and so we we kind of had some like because one of the lessons that was in buying a house is

48:08Well, how do you save for money and how do you make sure your credit score stays okay? So you could get a mortgage in this now And so I ended it on a couple interesting things that had nothing to do with buying houses one was If you hear nothing that I say today Except one thing is just understand no matter how much money you make or how much little money you make I said I've been broke and I've been rich and I can tell you this I'm gonna choose rich every time from the movie right? Yeah And the truth of it is is because I wasn't Understanding money and it doesn't matter what you choose you could be a plumber I said anyone in here looking to get into trades good because I just a friend of mine just sold his plumbing business for $10 million a plumber Everyone used to look down at plumbers. No, the plumbers are getting rich right now I saw all their eyes now start to be like, oh, okay The teacher didn't pull me in for that and I'll end with this the second thing that I I told him was I said

49:11Raise the hands in here. You hang out with some losers. You can admit it I do sometimes I hang out with some degenerates right and you know when I was your age I'm not with a lot of them and they're my best friends. I love them sometimes you know today I still love them But I said it's who you surround yourself from this point forward That's gonna that's gonna put you in a great position where you can be free one day or you're gonna be trapped You have learned the money game and surround yourself with with people who are lifting you and up not dragging you back down And that's how I left it. I know it's supposed to be about you know Selling you know how to buy your first house and everything but these kids need to hear this raw and real and I was just um like I was I was emotional walking out of that school because it was I was just grateful that I was allowed to do be there and do that Which is what I wish someone would have came into our our senior Math class and smack me over the head with the two by four and like this is what you need to be focused on

50:13You know, and those are the moments where I will listen when someone gets up into my head and my soul You know, and you got to really talk to him, you know at the same level, so Love Love you guys I have to thank you for giving everybody. Thanks for giving everybody Thanks for tuning in if today's episode inspired you follow for more conversations like this and gain valuable insights From the leading experts in the industry if you want to dive a little bit deeper check out johnkitchens.coach to find the ways that we can work together Once again, this is your host john kitchens. Keep making it happen