What I Learned From My 3-Day Event

The question that Zack Childress poses in every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer.

Today we’re going to talk about the different types of buyers that you will encounter when working in real estate.

The 1st type is the first-time buyer. They’re good candidates for fix and flips because they’re usually looking for a low price.

They’ve got a down payment, and generally use standard bank mortgages. Occasionally they need seller financing, which gives you a higher return.

Listen to learn about other types of buyers, including financed investor buyers, cash buyers and tenant buyers. Zack breaks the larger categories into smaller units for an enlightening level of detail.

“You can’t expect your results in life to change if you continue doing the same thing.”

Watch and learn:

Listen and enjoy:

What’s inside:

  • Interactive show… comments, questions welcome
  • Apply the education you’ve already received
  • Read and reread your training materials
  • Having a mentor is the best training you can get

Mentioned in this episode:

Transcription:

Download episode transcript in PDF format here…

So, the big question is this, how do aspiring real estate investors like us escape from the rat race and build real wealth and freedom without access to millions of dollars in investment capital and start to live the life that we know we deserve? This is the question and this podcast will give you the answer. My name is Zack Childress and welcome to Real Estate Investing Talk Show.

Zack Childress:             I am Zack Childress, your real real estate coach. And I’m here to talk to you about some things I learned while I was in Dallas teaching investors how to get their business off the ground and running. So, Ellie says, Hey, Zack from Houston, Texas. Love it. The other thing is, is that, you know, if you guys are out there and you’re making headway in the real estate business, there’s some things that you should obviously make sure you’re clear on. And this was the, one of the things that I learned while I was in Dallas teaching something that I learned. One of the things I learned, I learned so many things there with all the students. Some of you are on here that we’re in Dallas with me, but one of the things that I learned is that the information that is being put out there isn’t always heard.

Zack Childress:             That was one thing that really hit me home was that even as much free information as we put out there, it’s not being heard. For instance, I can’t tell you how many people came up to me and said that they had deals and I was like, that’s great. Do you have your team together to execute the deal? No. Do you have your funding together to close on the deal if you need to or use transactional funding? No. Okay. Did you do your market selection and know that you have a deal in the right area? No. Like what that made me realize is, is that that information is in my book. I mean, my book here, you can get it on Amazon. It’s like six bucks on Amazon. It’s in here. It’s in all my courses. My Boots on The Ground, Bus Tour Made Easy, Rehabbing Made Easy Training.

Zack Childress:             It’s in my Quick Cash Quadrant Training. It’s in my 30-Day Fast Track Training. I’ve talked about its numerous times on this show, about, you know, those key steps before you even start looking for deals. And what it made me realize is that we’re always seeking information, but we’re not actually applying that information. We can be seekers of information and we can become the most absorbent person in our family and community and network of information. But if we’re not applying that information, we’re really not doing anything. We’re just becoming overeducated and not applying anything. And so, I want to start that off with today with you guys because I think it’s highly, highly important that you don’t consume information but you apply information. And so, the big thing that I learned, if we look at this, what I learned at my three-day event was that so many people don’t apply the information that they’re getting or that they’ve got in the past.

Zack Childress:             And so, I want to hit home on that today with you guys because that was a big eyeopener for me. A big eyeopener was that there was a lot of people there that even had some of my training, there were people there that had none of my training, but at the same time, if you’re getting the training, you’ve got to apply it. So, Mike is in the house. Debbie says, hi. Awesome Mike. Manny says they’re trapped in their fears. I would agree to that to a certain point. Manny, but here’s why I have a hard time believing that, that to be the case in all situations because if someone was trapped in their own fears, they wouldn’t be out looking for deals, right? They would be looking for deals because they’re chasing the money. And that’s really the big thing is they’re trying to find a deal to make money on instead of doing the things necessary up front to make sure that they can make money.

Zack Childress:             They’re just trying to make a quick dollar. And the problem with making a quick dollar is, it’s not, it’s not sustainable. There’s no longevity into that. And so, you know, I tell everybody, you need to slow down. You need to actually take some steps back and slow down. Because chasing a deal’s going to get you nowhere if you don’t have your segmentation done so you don’t even know what strategy’s going to work the best in that market. You don’t have your team together as in buyers or contractors or the right title companies, you know. You’re trying to figure all that out at the last minute or you don’t have your funding lined up. Like those three components are essential to getting the business off the ground and running and, and I know that I’ve shared this over and over on this live broadcast and I’m doing it again because I don’t think if you’re listening, you’re not applying or you’re just not listening. And so, I share that because I really want you to succeed and if I know for you to succeed, there’s certain things you got to have in place. Okay?

Zack Childress:             Birmingham Bridgets in the house. Good to have you with this, Bridget. So, let’s regroup. I’m not going to keep you on here long today I promise. I say that every time, so I’m not going to give you here long today because I think it’s what I’m. What I’m realizing is even if I spent an hour on here with you, the problem is you’re not applying it. You’re not applying the information that I’m giving you. I just witnessed it in Dallas as I was asking questions and I was talking to people and I was figuring out what was going on and some of them have even said, look, I watch all your Facebook live shows, but they’re not applying it, so what is it that I could do, and this is a question to all of you watching this and all that will watch this.

Zack Childress:             What is it that I could do? Me personally that could help you not just consume the information but apply the information other than doing the one thing that I know would help you, which is giving you a coach, right? Putting a coach with you and having that coach hold you accountable and hold your hand and go through the process. Look, I’ve said it over and over on these shows, the most successful people come out of coaching because why? They have somebody there to hold them accountable. They have somebody there to lead them through the process. They have someone there to make sure they’re implementing the information, so outside of coaching, and then look, if you want coaching, great, let’s talk. Let’s get on the phone, see if it’s, if you’re a good fit, but outside of coaching, what is it that I could do personally to help you implement the information?

Zack Childress:             So, let’s see what we start to get. Not In all situations, but once you start to learn, it is frightening to know how fast things can go. That’s very true. That’s very true because as you start to learn the process and you start to realize the things you have to do and you actually start doing it, you start to see the wheels start turning in. And The momentum starts getting created and you’re getting closer to doing a deal. So, hey Toby, glad you’re here. Mary says, Hey Zack, this is Mary. Love it. I’ve got the last step towards becoming available to become an applicable. Okay. John says, keep it simple. Accountability. Onsite mentoring. Don’t run around looking for other programs. I can’t read the rest of it. John it cuts off with don’t run around looking for other programs. If you could type the rest out there, that would be great.

Zack Childress:             But I’m with John on this. Yes. Keeping it simple, like doing. Like instead of trying to gather all the information and then apply, like take the information and break it into applicable processes. Okay. This was a lot of information. I’m going to do this week, b next week and c next week. Right? I’m keeping it simple. Accountability is huge. You’re right John. Onsite mentoring who man, I can’t tell you how good that is. Mike says I use forums and checkoff sheets to make sure I’m organized. Love that Mike. Debbie is who he’s logged in as, but it’s Mike behind the scene. I know that so. Create a university, have no student left behind. And that’s what we try to do. Right Manny? So, John writes it out. He says, don’t run around looking for other programs. Zack has comprehensive multifaceted approach. As all you as all you need that. Yes, I’ve tried. Right? Like I’ve tried to make it so that everybody can consume and apply. Mike says if you have step forms, that would help a lot of step forms. Okay. We’ll look into that step forms.

Zack Childress:             So, I do have some, I do have a step form I think was what you were referring to, which is in our 30-Day Fast Track, there’s actually a composite manual in there and it’s a 30-day step by step leaderly like every day what you’re supposed to be doing to build the momentum. Maybe we could use a flowchart. Did you do this? Then do this. Yes, there is a flow chart, but it’s more automated. It’s called our Next Step Intelligence. And so, what that does is, is when you put a deal in, it says, look, you got 14 stages you got to go through to be successful with this deal. Stage one, here’s the 15 things you need to do before you go to stage two. Then once you finish those, stage two opens up and it says, here’s the eight things you need to do in stage two before you go to stage three.

Zack Childress:             Then stage three opens up once you finished stage two. So, you know, Donna, I’ve done everything in my power to try to deliver that type of step by step process. I know you may not understand that Zack, the process is coming together. Awesome. Angel says having other students in your own area. Manny says from the minute you got up, program yourself. Bridget says, I’d like a solid cold call script. There we have, we have them. They’re in our Masterclass there in our Quick Cash, a quadrant system. Thirty Day Fast Track. They’re all in there, or a script on how to speak with sellers when doing a walkthrough. Yes, that is absolutely in our Quick Cash Quadrant System. So, a lot of things you’re asking for guys, we’ve developed them and we’ve put them in our training. So, I’m just trying to get my head around it because that was a really big eyeopener for me to realize that so many people had access to training and had been on these shows, but yeah, they still won’t implement.

Zack Childress:             So, Toby says yes, you certainly have Zack. Thanks Toby. You know, it just, it gets a little, I get excited when I, when I put stuff together because I’m thinking of the students, right? I’m thinking about like all the things that they need to know and how they need to move forward. But then I get discouraged a little bit to when I know they have it but yet not doing anything with it. Please through read through John says, please read through all manuals and online videos, right? That’s something that we almost beg people to do. Like they’ll get a training and then they’ll just call the office and say, well, how do you do this? Well, that’s in manual three. Oh, I didn’t read that. How do you do it? It’s almost like they want us to just do it for them and obviously we can’t and won’t do that.

Zack Childress:             So, I just take that into consideration. I also think it’s a nervousness to. Yeah, it could be nerves, you know, but you know, I take it back and I’ve thought about all these things guys and I appreciate your feedback a lot. I really do. And I’ve thought about all these things, but then it makes me wonder, well, why would people go chase deals if they, if they’re not doing the beginning stages, right? That we teach over and over and over again, and it leads me back to the same concept or idea that they’re just chasing the money. And listen, this business can pay you tremendously well, but you have to get past the money. You have to get to focusing on the business itself and the processes and the things that have to be set up first before you can move into a successful business model.

Zack Childress:             A blueprint with each step of the process for each exit strategy to refer to whenever you get stuck. Yes, and that would be in our 30-Day Fast Track. There’s a complete manual, there’s a complete manual in there. That says your 30-day action plan and it literally says, day one, do this, day two, do this, day three do this day four, do this. So, do an extra day of Facebook teaching if you can, but I know you’re super busy. Yeah, we used to do two days. Some of you remember that. And what we found was that it wasn’t, it wasn’t creating the type of effect that we wanted. So, Judy’s in here, Judy was in Dallas, still can’t access the items. Spoke to Nick and in a circle here. Awesome Judy. Yeah, I was actually in that conversation so I know Nick and Nick and Jill were working on that for you Judy.

Zack Childress:             It was good to meet you. It was good to meet your son. That was great too. I love that. So, who’s that picture there? So, I know Jill, so being that you are with Jill now, I would just reach out and ask for Jill, Judy. I know they, so the logins inside Infusionsoft for your training, which is a member’s area and then the Adm is a separate login so she can work with you on that one. Thanks Zack. This is Abner. Your team was awesome. Me and my son are back in the business ac. Oh, it cut off on me. Abner it cut off on me. The last part of it Abner was ac was blank. I can’t see the other part of that. So yes, the team was great there this weekend. You and everybody there.

Zack Childress:             This weekend was great. The energy was great. Everybody was excited to be there and all the stuff we were sharing. I got tremendous feedback from everybody and how much, not only did they love the event but how they loved our team in the office and how they were being taken care of and you know, so I, I appreciate that because he’ll listen to be honest. Usually the only thing we ever hear is when somebody has a complaint. Right? Look society is full of complainers. That’s what it is. It’s they don’t come to you and say, Zack, I loved everything about this, but I’m having an issue with this. Can you work on it? Right. They don’t do that. They just go, I got this issue. You need to fix it. So, I appreciate that Abner so much. So much. So much. I’m Abner says AC was great with his mentoring.

Zack Childress:             Love it, Abner. Love it, love it, love it. That’s awesome. I appreciate all the positive information. Abner. Yeah, I actually Abner. I had a chance to talk to your son in the hallway about his experience being in taekwondo and being a black belt and we, we shared some information and about my son and so forth. So, it was great to be able to talk to Abner Jr while I was there. And Manny says, you can’t please everyone. Well, I know you can’t please everyone. And I’ve listened over the years, I have definitely come to the conclusion. I can’t please everyone, right. But it doesn’t mean that we can’t give it our best shot right. And so, but what I was referring to that is just, you know, just so many people came up to me at the event and was just really so positive about our team there, our team here in the office in Alabama, and just how, how much they appreciated us and how much they appreciated being able to talk to someone and be on the phone with someone.

Zack Childress:             And I just, I just thank you guys. I really do. For sharing the positive information other than, you know, coming up and just saying, hey, here’s my problem right. Like, you know, that’s, that’s really not a great communication style. But I do appreciate all the positive feedback. But you always try to please, Shelly. Yes, I do to a certain extent. I’m learning very quickly, is what Manny says, no matter what you do for somebody. I’ll give you an example. Okay. We don’t, obviously we don’t work on the weekends, but we had a guy just a while back, he came in and got some products from us over a weekend. Well, he had emailed back in and said he wanted to talk to somebody. Well, no one’s here on the weekend. Okay. And then like five minutes later he emailed back in and was like, even worse, right.

Zack Childress:             Like he was demanding someone to talk to him. Three minutes later he was threatening. Five minutes later he was threatening us again. Well, by the time we got in on Monday, there was like nine emails from this guy and so, you know, we responded back to him and said, look, we didn’t, we don’t work on the weekends, but we’re getting to it now. And he was just upset. So, me as an owner, I said, look, just refund him everything. Like that’s not a customer we want, we don’t want somebody that just wants to complain and much less threaten us. Right. So, I said, just refund him everything and we’re talking a lot of money, not a couple of hundred bucks, not even a couple of thousand dollars but a lot. And I said, just refund him everything will. As soon as we did that, he was all apologetic. Oh, I’m sorry.

Zack Childress:             I really want to work with you guys. You know, I mishandled myself in that situation. You know, lets reconsider. No, no, I’m not going to reconsider. But here’s what I did learn from that experience. Okay. What I did learn from that experiences are that, you know, we typically run Monday through Friday, nine to 4:30, but what I did learn from that experience is this, is that I’d probably need to have a 24/7 customer support. See this is me trying to please everybody again. Right? So as of next week, we’re going to be integrating a 24-hour, seven day a week customer support center so that, you know, look, if somebody does call it over the weekend, you know, they, they can get some, at least to talk to somebody. They may not be able to get the exact answer they’re looking for until Monday, but at least they can talk to somebody. Judy says you got Jeremy out of his shell. I sure did. Watch out now. Great weekend. Fully emerged and informative. Love it, Judy. Yeah. Jeremy was he was a little nervous on day one, but I had to, I had to kick him up on the stage. So, Angel says, listened. Zack plain and simple. You have the best real estate training and coaching period. Love it. Angel. Love it. Thank you, sir. I would have to agree.

Zack Childress:             I would have to agree with that one. So, I think that is a great one. So, I have to agree. I am a little biased though, right? Manny says, but you are a man of lots of passion, passion, passion, or patients, one of the two. I’m not sure what you were saying there, but I appreciate it Manny. Here’s the point guys. My point, my message to you today is very clear. You got to apply the information. Look, I’ve got one more three-day event this year. That’s it. That’s it. I’m done. I got one more this year and it’s in Nashville November 16th. You want to write those dates down? If you didn’t make it to Dallas. Nashville is the last one. Okay. We’re going to keep it small again in Nashville. I love the size of Dallas. I felt like I actually got to know everybody in that room.

Zack Childress:             Which was great for me. I really felt like I was there and I could touch and talk to people and I thought that was great. So, Nashville is going to be. We’re going to run the same exact way in Nashville. It’s the last one. I’m not doing any more the rest of the year. So, you definitely need to be at Nashville. Okay. So, if you want to be in Nashville, we don’t even have the pages up yet, but you can come in this post right here. You know, I want to go to Nashville, I want to go to Nashville and we’ll make sure that we reach out to you and, and get you all squared away for Nashville, but it’s the last one. You can ask anybody on here that was in Dallas if they got information, if they got information they could actually use. If they got more than they expected, I’m sure I would feel like I know what that answer is, but I’d be happy for them to answer that for you.

Zack Childress:             Because if you didn’t go to Dallas or maybe you were a fence sitter and you weren’t sure you need to be in Nashville point blank. You need to be in Nashville. It’s a game changer when you come to them. I will open your eyes. Yes, my team will be there and believe it or not, I will be there too. I know a lot of times that doesn’t happen. But I will be there to not, not saying a lot of times it doesn’t happen as in me, but other outfits out there. I will be there. I will be teaching, my team will be there, I have my partner, Jeremy will be there teaching. So, let’s see. Don says, I want to go to Nashville. Judy says yes to both. Thanks Judy. I mean we’re there to help.

Zack Childress:             We’re there to deliver. We’re there to make sure you get a clear understanding of the direction that you need to be going. Um, and that is the key component to why you come to a three day. Now, let’s, I mean, let’s be honest, you come to a three day, you’re going to learn a lot of information, but is there still more to learn? Of course, there is, there’s tons more to learn. That’s why I’m always telling people you need mentorship, you need mentorship, you need mentorship, you need mentorship because that’s what helps you keep moving forward. Look, our best success comes out of 12 months of mentoring. Our next best success comes out of six months. The more time we have the better results that we can create for somebody. And so, you know, you got to think about that. What is Judy saying?

Zack Childress:             Judy says Dallas rocked. Zack and his team were one on one. Yeah, that’s the Judy. And that is a direct reflection of. Because I said I didn’t want Dallas to be like Tampa. Tampa, we didn’t shut it off early enough and we had like 180 people in Tampa. Were in Dallas. We were like, alright, we’re shutting this one off. I kept it small. It was a great room. It was a great environment. It was just enough students. And so, I want to follow that same model in Nashville. Because I know a lot of people wanting to get to Dallas and we shut it off. So, Nashville is the last one this year guys. So, let’s get ready for Nashville. Let’s get you ready for Nashville. Let’s get you prepared for Nashville. So, type in the comment, I want to go to Nashville.

Zack Childress:             If you haven’t been to our events this year, you definitely want to get out to it and let’s get you ready for Nashville and let’s also work together on implementation of information. Okay. Implementation of information. The beauty of it is, is that you do your own events. That is very true Manny. That is very true of me and my team. Let me make sure me and my team. Okay. Me and my team. So anyways, that’s the message I want to deliver to you guys today. I’m going to let you guys move on through your day, but what I learned from my three-day event was that even when people get the training, they’re not implementing it. So, I share that with you firsthand. Work on implementing the training, work on that and I promise you you’ll succeed much faster. Anyways, this is Zack Childress. I am your real real estate coach and I will see you next week. Come prepared. Let’s rock it out. Together on the real estate investing talk show.

You’ve been listening to the Real Estate Investing Talk Show. I’m Zack Childress and I’m on a mission to create 10,000 real estate bosses over the next year. Will you be one of them?
Head over to my website, ReiSuccessAcademy.com/webclass, and register for my free web class, where you’ll discover how to escape from the nine to five grind and become your own boss in real estate. See you there.

 

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