Chatting with a 22-year-old Real Estate Millionaire - YouTube

Hey, I'm Andrew Hales welcome to another edition of chatting with today I'm here with Igor thanks for being here. Yeah, no problem

You are a millionaire yeah Wow by some standards

Some of you I don't have like a million dollars in the bank but assets net worth assets minus liabilities. Yeah, okay

I met Igor through

The airport. Yes. Yeah, we met with like randomly like two weeks or no like a week you like a week. Yeah

Just going home from LAX at the Chicago Airport and just got to talking and he told me flipped houses

And I thought that was really interesting

So yeah you it's all real estate pretty much all real estate. Yeah

How does that worry? You don't even have a license? No, no real though. I don't have any real estate license. It's pretty much like

You know just single-family homes for the most part buying fixing them up and resale and I'm like, you know

Like the TV shows. Okay. So, how do you how do you flip the house?

So I mean is it hard? Is it easy? It's it's really easy. I mean

the way that I got into it was like the kind of no money down no money down, whatever that they you know,

You'll hear like on the radio or on YouTube like okay

I know the stuff people it's called wholesaling that people like always advertise you can make money without having any money in real estate

Hey, welcome back in today's free training. You're gonna discover how to flip houses using no money down strategies

So that's like super hard cuz you're you're trying to basically like buy a house and flip it without having any money

Okay first it's hard. But I mean if you've got money it's you know, so how how much does someone need to start doing it?

Like I mean it varies you could do it with zero down if you have a lot of time and you can just devote like

Okay, it took me like six months of like full-time

working

Trying to put a deal together to get my first deal and make like four grand

I made on my first deal with like no money down. So that's like not even okay, so

Walk me through the steps you go and you want to get a house

So then so you see the house and what's one of the next steps like with my business?

it's a little it's like my business is kind of difficult because

We're getting super discounted properties. So I've got like a call center where you know

we're calling pre foreclosures or like people that are behind on their taxes and stuff like that and we're just doing tons of calls and

Then you know go on the appointment see the house depending on what it looks like make an offer

Buy it

Fix it up and then resell it

So there's like kind of a lot of moving parts, but I'm good

It's simple like in the steps that you have to do. How many houses do no

Right. Now we have like 13 or 14 like under contract to buy like eight more

And you lose money sometimes yeah, very rarely

But like back in the day when I used to do what?

tried to do the wholesaling stuff and I'd like find a house for like

$8,000 in the hood and Chicago and I was getting started and I'm like, yeah

This could be a great investment. Then you buy it and like nobody wants to buy it

I've lost a little bit of money on deals like that, but I'm a normal flip deals

like I mean

I haven't lost money on a deal

more recently

Just because I'm buying them with enough room in there to like make sure if I'm you know

Screw something up and when it's like a four hundred thousand dollar house and you're buying it for like 280 or something

There's a lot more room to not screw up whether we're you

Whereas like if you're buying a house for 8 grand in the hood in Chicago

Yeah, like it's hard to find someone that wants to buy that for more than it can you know, okay, so I see a house

It's a junker. It's 10 grand or whatever. I buy it

Fix it up and then sell it for 50 grand. Yeah

Well, those seals like that's not really because I mean it's the same amount of work to buy a house for three hundred thousand

But 50 into it and sell for five fifty and make a hundred grand

Mmm, then it is to do a house for 10 grand put ten into itself or fifty and make twenty, you know, okay

Like how many hours a week? Do you work? You say I'm like pretty right now

I'm not working like 12 hours a day. I'm work probably within the single-family

Flipping like my flipping business. I probably work like two three hours a day. Mm

um, and it's just like

You know with like my office manager or whatever

Like they have questions for me or like going over numbers on some properties and you're the very top

Yeah

So I'm like I own it and then we have I have an office in Denver and an office in Florida

where I have like a small team in each one of them that's going on all the appointments and like cold calling and

Managing the contractors and stuff cold calling. What are the cold calling?

So, I mean we've got like people that create lists and we're calling you know

pretty foreclosures like people that are getting divorced or like people that are behind on taxes people that like we might have some sort of

Motivation to sell their house for a discount, you know, whoa

So we're calling that stuff. And then we also just call like we say I used to have a

lot more people cold calling and we just had like blank like we were called every single person in the state of Florida trying to

Buy their house, so we're just like hey, we're buying houses. You know anyone looking to sell? No

Thank you buy just like yeah like a thousand people a day

I'm trapped. You're never gonna get your license

I

Wouldn't say never but like I don't really need to I wouldn't want cuz like the license

The license side of it was like, you know

Real estate sales, like I don't want to go like show houses and like try to like sell them

And yeah, I just like running the business, huh?

man

But like that's a good I I would were to do it again

I would get my real estate license and start with that like when I was 17, it's well

I guess I couldn't cuz in Chicago to be 21 to get your real estate license

I live in fog, but what's the what's the most money you've ever made on a single deal? Uh

140 grand how much was the house?

We bought it for I bought it for 165

put like

thirty thousand into it sold it for

355

Day, so after like realtor costs and there's like a three there's like a three month process. Yeah. It's like a hundred days

Yeah, that one's good and I didn't really have any money into that one because I got a good like good loan on it

I got it for a really good price. So my lender gave me the full

okay, and you have like a lender you always go to I have several lenders that are just like different either older real-estate investors that

have some money or they gave a lady that like got hit by a car and she got a settlement and like had money he's

Social that's it. They're not usually banks. No, usually not that's me

Like I'm gonna go and try to reach out to banks at some point when I have like, you know, hey, I flipped

You know 100 houses this year. Like here you go. I need a line of credit and show them all the numbers and stuff

Yeah, but banks aren't it's it's hard to get the bank to lend on like single-family flip deals

Than it is for like a single conventional mortgage like an apartment building or something

Why do you think most people fail at real estate?

cuz it's hard like

especially like the wholesale excited things even flipping to but they kind of helpful with on the wholesaling side the way I tried to get

Started or I did get started

it's like you should get like slap in the face like no no, no, no like all the time like

Oh

My god gave me like like you I mean like you're trying to offer people like sixty percent of what their house is worth

So someone's got a $200,000 house for like y'all give you one one hundred grand for it. They're like fuck you

You know and you get that like six months great you're spending money every month and you're not making any money

Like most people get discouraged and you're like and they're like this doesn't work, you know

You were like MLM and high school and stuff

Yeah

That was one of the first things actually like before even I think Rich Dad Poor Dad and like thinking Grow Rich and stuff

I did Vemma which was like, yeah, what's that? It's like a drink. Yeah. It was like the have you do you remember that?

Sounds familiar, then you're gonna love Vemma

Just an opportunity to enjoy the products. You also have the opportunity to succeed by helping others succeed

Yeah

it was like these like teas and stuff like 3G tea or some shit and it was like

Sign your friends up and you make money and that was I did that in high school and like you did good like yeah

I did I was super into it like two months. So like the first month I was like killing it

I got like everybody in my high school was like talking about it

I think I got voted is like the most likely to be a millionaire or whatever it was

like I was like a total stoner like I didn't do shit in high school the entire time like I would literally

like a DS and C's and all my classes and your

Smoke weed like all day with my friends and then like the last three years of senior year

I did Vemma and then like

Everybody was a team of emo Vemma and then I ended up getting voted like most likely to be a millionaire or whatever

And no one was actually buying Bheema

It was like all like well, I was getting people to sign up to ya know like that's where most the money is, right

Well, so how it worked was like you're technically getting people to like buy the tea but really they're like signing up for that ID

or whatever to make money so like yeah, they're buying these teas for like 3 bucks apiece and they have to buy like

$500 of it every month or something like $200

who's crazy like indie might like the kid that was above me when I was in high school was making like

$1,000 a month and I was like, holy fuck like that's killing it, you know

But that was the way that was like the first thing that like

Surrounding myself with those people that were all that kind of

business focused and like and all that kind of stuff was what got me really introduced into like the books and yeah, I'm trying to

You know how much uh, how much money did you make with Vemma?

About like like 600 bucks, okay

So it wasn't they had to make a lot of money with it

but that was I like really and thankful that I did that because

It's where like flip my mindset. It's coming. Yeah, when I was in college, I remember seeing like, you know, get rich online

you know, yeah all these and I was a brilliant nel that and like yeah, and I bought I bought like I

Don't know. I bought one. I bought into one where it is, like just get people to look at this website

And it was like a three hundred dollars like signup fee or whatever and they were like they gave you the whole

package, all you had to do is get people to

Get to this thing and the wide travel thing and you get a thousand bucks Commission

Well, yeah and so that but you know

and obviously like I get I didn't get make any money totally lost three hundred dollars, you know, and damn I

Didn't know anything about the internet nothing about YouTube and I remember like trying to comment the link on like College

No, it was obviously like it was just get hidden immediately, but that's funny

I didn't know anything about like traffic and yeah getting traffic to websites and stuff

But that was kind of a catalyst though that like got me down the road of like alright

How how do you make money online? That's awesome

Yeah

see a lot of people like hate on the MLM stuff cuz like really if you're trying to make a living off that like it's

fucking hard

But the things that teaches you are extremely valuable, I think hmm. Um, yeah, you just went to like Tony Robbins

Yeah, that's what when we met when I was it was in Chicago

So when we were both in Chicago, I was coming back from the Tony Robbins event, which was super cool

that's interesting because I feel like I

Feel like unsuccessful people

Go to those things. Yeah, I mean people that are like that people that are trying to like learn something

You know, I'm like, I guess missing something or trying to like get to the next level or yeah, you know

so now for sure there's definitely like a lot of the people that you see like on Instagram that are like doing

Motivational quotes and like meeting all the conference's like obviously. I mean they're looking for something. Oh I

Yeah, the Tony one was super good. I learned a lot from it. Yeah, you recommend it

Yeah, totally. It was a how much did it cost you something like 500 bucks?

Now usually those things are like expensive. I know that that's well

That's what's funny is like you act like it's that's a really good deal

But I mean for it like cuz the conference is like some of them are like they'll charge like five grand or like yeah

10 15 20 grand like they're expensive so that one

For at least cuz the guy is like pretty legendary when it comes to like that field. So yeah

yeah, he has been he is probably like

The number one. I think he's in the unified forty years. Yeah

Okay pretend that I have a great house, uh-huh now sell me just okay ring ring hello. Hi there is this Andrew

Yes. Yeah. Hey drew listen, my name is Mike. I'm calling because I see you on this property here at 99 nightingale place

Listen, I'm local invest fear, and I want to see if you consider a cash offer for that house

Okay, yeah what sure what do you what do you want to pay

Um, I can't tell you what I could pay for it without seeing it Andrew, but if you're available

Maybe tomorrow around noon I could swing by and leave you with a written offer around the spot there. Does that work for you?

Sure. Yeah. Okay, cool. Well, I'll see you there

No, that's like one out of 10,000 calls. We'd go like that. Okay, like usually it's like watch you get my number

Right, right. Okay. I'll try to tell you. Okay, you you do all the classic resistance. Oh, yeah, okay

Hi, is this Igor? Who is this?

This is Andrew. I'm calling about your property at 8 8 5 Harvard Street. What do you want? I well I I noticed

Well, I want to pay

Yeah, see I I did I actually did telemarketing for like six months and college and I was so bad reselling

It wasn't even selling anything. I was just all that customer service. You're like, I don't know

It was simply like getting people to

buy or

Or no that were like interested in going back to school for education

Okay, and like going through this one website and that that website gets a commission from their tuition. Okay?

But it's like a shitty schools. Oh, yeah a Nixon. It's hard. It's like a hard job like yeah do it

I mean I did it for a while obviously and growing the business

Like but I had a different and I had the vision of what I'm doing the business that kept me going

Yeah, like if like my vision is like a biweekly paycheck to cold cause like I couldn't do it

Well, that's gotta be like the hardest sale ever though like you're telling people to move

Yeah, and sell you their house at like a pretty steep discount right like it's an awful price

Yeah, like I mean, it's a good price given their situation or whatever like, you know

They need a move like they need to sell their house in a week or else they're gonna lose it

Okay, we're giving them like cash. Oh, you know and you can see these this information. Yeah, totally

Can you see how bad their credit is and no not that kind of stuff

But I could see like because it's published in the like specific County

I was like, for example when they're going into foreclosure or whatever they call the or documents or public they're all online

And yeah, so you don't ever feel guilty about it, it's not like wrong to do it

No, I don't think so

You know, there are people that like take advantage of people but like when we go on an appointment

my thing is always like you know, if these people really are like better off listing it with a realtor or something like

you know refer them to our realtor like let's you know sure let's get them listed like get them whatever get our money and like

You know, but people will be like we're like hey, you know

You can't get 40 grand more if you sell us the realtor, like it'll take you maybe another month or two longer

But you know

It's totally possible

Your house isn't in that bad of shape or whatever and they're like no we like you guys we want to close quick like you

know mmm

So we're not

Like I believe that if you're fucking people over like it's not gonna last whatever you're doing like you might win in the short term

But you're gonna end up losing in the long run. So like I always try to come from a place of

Providing a value has anyone come after selling their house to like come back and been like hey you screwed us

No

I've had stuff like when I was wholesaling

That I'd like to tie up a deal go under contract and then I would back out and not end up buying it

Mm-hmm, and then people get pissed off but like that's pretty much the extent of that

Um, yeah, I still don't understand what wholesaling is like your okay

So there's the house and then there's a contract and you're you get it you buy the contract and that costs two grand

So I'll like do like a quick explanation I guess

wholesale

Pretend like I'm a two-year-old. Yes. Yes. So it's like you'll go like say you're Andrew and you've got this house in Phoenix

It's worth two hundred thousand dollars and you're like dude. I need to move to Alaska right now

Like I'm trying to sell this place. I'm gonna sell it for a hundred grand to you because you're ready to buy it

So you sign the contract with that guy. You're like alright, sounds good. I'll buy your house for a hundred grand

I'm close in 30 days

these are the terms whatever listed on the contract and

Then you know you sign that and then that thing you might not have the legal documents a legal binding document

And now you have a you know equitable interest in that property. Okay. So now you have 30 days to close

So like say you can call up your friend that you know

Buys houses and be like hey Jim Bob like I got this deal in Phoenix and thing's worth 200

do you want it for 120 and

Then he'll be like hell yeah, and then so he just steps in and he basically assigned him that contract for

$20,000 because he's paying 120

You say

If you have it at 100 it's worth 200 and think so the guy's willing to pay 120 for it

So when you go to closing like, you know comes in you'll pay it 100 for it. Yep, guys

122 the title company. Yeah, they're gonna send you 20 and then a hundred is gonna go to the owner

So you're basically just keeping the difference at the time of closing. You're just you're basically just like

Getting out of here by your spot and plugging the new buyer in

For that and that those are all within usually like 30 days. Yeah for sure. What's the most you made from doing that?

49k Wow

Well, how much what was the it was I got it for like 99 or 100 and sold it for 150 man

Did he know how much you Potiphar initially? Yeah, so there are two ways to do it actually

It's kind of more technical but like you can do it in a way where you just assign it and they see what you make

or you can

What's called a double escrow or double closed where you could?

Do it and then no one sees how much you made either the seller or the buyer

So the name of the game is just searching for the sweet deals. Yeah. Yeah, just like this

Yeah, man, and that's like just so just searching and searching searching yeah the actual process like step by step is extremely simple

Yeah, when it comes to trying to get someone to sell you $200,000 house for $100,000. That's the really hard part. It's like fishing

Yeah

You're just yeah. Just have to be really patient

Exactly and can go have like big lines out and that's out and like fucking shit

So it's bigger nets and like it just trying to get all the fish, you know. Oh, man

Sweet. Yeah, I think I got more than enough here. All right, shout out your Instagram. It's who is cash

WH o is ka jaiye, okay