Disclaimer: Transcripts were generated automatically and may contain inaccuracies and errors.

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One of the things that I think is really critical when you’re thinking about investing in real estate is real estate kind of in and of itself is this beast, right? Like, there are so many things to consider. And if you were left to your own devices, if you had to do it on your own, there would be so much to have to consider and… But what we’re saying is, what if you could boil it all down to a handful of steps?

What would your life look like if you could replace all of your working income with simple and conservative investments that could do it for you?

Over the last 13 years, we’ve helped thousands of clients transact over half a billion dollars in simple and conservative real estate transactions, allowing them to begin replacing their working income with real estate investment income.

Each week, we’ll be pulling back the curtain on the ins and outs of real-time retirement based real estate transactions that will transform your financial future, even if you have no real estate experience. This is Replace Your Income with me, Kevin Clayson …and Steve Earl.

All right, well, hello, everybody, and welcome back to Replace Your Income. Man, we’re excited to be with you guys today, because this is one that we’ve been excited to talk about. Because look, we’ve been kind of setting it up, right? And we let you know for how we got to this point. I mean, we wanted today to actually tell you what the heck it is that Steve and I do on a daily basis and kind of what is the solution to a lot of the things that we’ve been talking about.

And so we’re going to have some fun kind of sharing that with you. Before we jump into the episode, Steve, how are you doing, man? Doing pretty good. Glad to be here.

So how’s…? I really want to know this is an extremely important question. How is your new Harley?

Oh, man couldn’t be better. I’ve only had it for three weeks. I’ve already put almost 700 miles on it. That’s awesome.

My favorite is that like… When you have all your gear on, you kind of look like the Terminator. And… I kind of… I kind of feel like the Terminator. Yeah. But maybe that’s not a good thing, because I’m definitely not indestructible.

That’s awesome. Well, it is so good to be with you guys. And we are so appreciative of you. Thank you for listening. And thank you for continuing to listen, it means a lot to us. So, you know, we thought what would be good is up to this point, we wanted to just do a super brief recap of what it is we’ve talked about, but then really say, look, what is the solution that we found, I mean, we’ve been talking about income replacement, and we’ve been talking about the necessity of replacing your income.

And we’ve kind of alluded to and talked a little bit about this company that you know, we participate in regularly this company that we founded in that we have been utilizing to kind of build our own real estate portfolios, but also we’ve been helping lots of clients do something really similar as they work towards income replacement, and so we wanted to just kind of break it all down today.

Right? We just… Kind of like, let’s just tell you really who we are, what it is we do that way, it’s out of the way. And you guys know, you’re not going to have these question marks. And then we could just continue to serve you with awesome content, you’ll be able to know more about us and what it is that our company does.

And look, we know some of you out there, you may think that you want to come and work with us, we would love that, that’s not the purpose of this podcast, we felt like we told you from the beginning, we wanted to have a podcast out there for people like us, where we could talk about things that matter.

And sure we know that that that’s going to introduce us to new people. And of course, that’s one of the reasons we wanted to do the podcast, but we don’t expect that if you’re listening that you’re you know, going to go all in and want to work with Done For You Real Estate and that’s okay. We’re going to share awesome content with you every single week because we feel like it’s important to your personal journey.

And so, you know, as we kind of think about what we talked about when Steve and I really jumped into this podcast and when we jumped into the company. The idea was, we wanted to kind of defy the real estate coaching industry, there was all of this stuff out there with all these gurus telling you how awesome they were and how you could be like them, and all you had to do was give them you know, $15,000, and then they show you how to do it.

And then you were still kind of left to your own devices to figure it out. We knew that traditional retirement wasn’t working and that traditional retirement for most Americans was putting them behind the eight balls, and we knew that there needed to be a solution.

And so for us, real estate was very much that solution because real estate, it combats so many things that are kind of fundamentally wrong with traditional investing in the market. And, and, you know, we wanted to, we knew that it was kind of this focus of income replacement, as opposed to net worth accumulation, that would make a difference for someone’s life.

And so when we take a look at all of that kind of creating something that was different than anything we’d seen in the industry so that we could combat traditional retirement and utilizing real estate to be that weapon that could combat traditional retirement so that somebody could really focus on income replacement as opposed to net worth accumulation. All of that gets summarized into just a handful of steps.

Well, Kevin, for me, it’s like, you know what, I’ve talked to a few people, let them know that you and I are doing this podcast now. And the question inevitably came up, it’s like, well, why do you want to do podcasts? Like, why do you want to like talk to the world?

And it’s like, we’ve been doing this long enough now that we actually have enough road under our belt, we have enough experience now that we can kind of sit here like you and I, we talk about this stuff all the time.

Anyways. And, and I’ve often thought, it’s like, Man, I wish I could have recorded what we just said, because he might be like, just for my own posterity, right? Because there were some real gems in that little conversation that we had there.

And, and for me, it’s part of it anyway, is about just sharing this wealth of knowledge that we’ve accumulated over the last 1213 years. Yours now that we’ve been doing this, and to share a few of the hundreds and hundreds of experiences that our clients have had, right, and it’s kind of one of those things that you hear people say all the time, hey, when you learn something, or when you find something really cool, like one of the first things that you want to do is you want to share it with other people.

Exactly. And so this is kind of like my way, our way of like sharing some of this good stuff that we have discovered over the years with others in and seeing how it might benefit them in one way or another. Either following our system Exactly. Or maybe there’s just a nugget or two here and there that could be helpful. Yeah, yeah.

But it’s pretty awesome that we do have this system and process and all these different things that we’ve we’ve found that that work really well. And, so I’m excited to kind of recap here and let people know what it is that we do. And perhaps you know, people might find value in it and maybe even find value in working with us.

Which would be awesome. Again, that’s not necessarily the expectation, but we wanted to share with you when you look at one of the things that I think is really critical when you’re thinking about investing in real estate is real estate kind of in and of itself. Is this beast, right? Like there are so many things to consider.

And if you were left to your own devices, if you had to do it on your own, there would be so much to have to consider and but what we’re saying is, what if you could boil it all down to a handful of steps? And what if that handful of steps if the vast majority of those steps in the work involved in those steps could be done for you?

Well, in fact, just really quick, Kevin, when I first got into real estate, like after I sold my painting company and I had chosen to get in and become a full-time investor, I felt like a kid in a candy store and I didn’t have a lot of direction.

And in those beginning years, I did a lot of different things. You know, I flipped properties. That was the first thing I thought I found that to be a job. I got into commercial real estate, but another Number of commercial real estate properties I got into, you know, some multifamily and had some experiences there. And then ultimately found the concept of this the buy and hold strategy of single-family properties.

And that has become the bread and butter of what it is that, that I found works the most consistent is the most predictable. And it’s what we’ve been doing, you and I with Done For You Real Estate over the last, you know, longer than a decade now. And it’s what we have found works like so consistently and predictably. And it’s just been a fun and enjoyable experience from there.

Yeah, you know, I agree with everything you just said. I mean, the difference between you and I though is I didn’t do other kinds of real estate, right. Like I didn’t flip and I didn’t do commercial, and I didn’t do multifamily.

You know, when I got into real estate, it was kind of this strategy, right? Because I was working with people like you who kind of had already figured out that this strategy might be the best but here’s what I had to learn on my own is that I Did not even want to do buying homes in my backyard.

So I, you know, we live here in Utah, buying properties here in Utah that I still had to manage that I still had to interact with the tenants. I didn’t want to do that either. Because that was kind of what I started with. Right? It was like, Okay, good single-family residences. This works.

We like this, we’d like to strategy, but then still trying to find my own tenants, still trying to manage my own tenants, juggle the contracts deal with the phone calls. Dude, I only did that for a couple years before I was already tired of it. You know, I was like, I’m already done.

And it wasn’t like I was spending a ton of time it was like, the time that I spent was already enough. And so one of the things I love about what we’ll talk about here today, as part of this process, is the entire approach this Done For You approach. It’s to me, it’s real capitalism, right? Because now I hope that if you’re listening to this, you’re a fan of capitalist principles.

But it’s the idea that if you have a widget or something that that you know, could benefit mankind and this happens on Shark Tank off All the time I love Shark Tank. on Shark Tank, you’ll find these entrepreneurs that will come on they have this really cool idea, right?

Or another show. I love the Prophet on CNBC, you’ll see these businesses, these entrepreneurs with these really cool ideas when they go on Shark Tank, or they go to Marcus Lemonis, on CNBC on the Prophet, they’re generally always looking for the same kind of thing. Capital. Why do they want capital? They’ve got a good product that sells, but in order to sell enough of them, they need more capital.

And in order to do that they need services that can better fulfill the orders that they’re trying to create, right? Somebody that is going to hand sew, neckties can only do so many hands. So neckties on their own before they have to start to hire others out. Steve, when you were a kid and you had a paper route. You learn that concept real quick, right? I mean, what did you learn when you took on your paper route?

It was a lot of work. A lot of time, a lot of effort getting up early in the morning. So what did you do? I hired some of my little buddies to actually deliver the papers for me.

See, I love it. So you hired your buddies. And then you took a little bit of a cut, right, you get a little bit off the top. And so this is the principle. We see this all the time with entrepreneurs and we see it all the time in businesses, you start something, you have an idea, you have a widget you want to sell, you produce that thing.

And then in order to become as profitable as you want to be, you need to free up your time so that you can do more, right. And that is the same thing with real estate. If you’re going to flip homes, personally, there’s only so many homes you can flip. If you’re going to buy single-family residences, and manage them on your own in your backyard, there’s only going to be so much you can do before it feels like a full-time job.

My awesome brother in law who might be listening right now, he has done great things in real estate. But if you ask him whether or not he feels like his investment properties are number one, awesome, but also a little bit of work. Guess what he’s gonna tell you, he’s gonna say yeah, there are a lot of work what we can do have discovered was that we could take the expertise of multiple people that that are experts in certain areas and certain parts of the production line right and can specialize in doing the loans or specialize in doing the insurance or specialize in finding the right type of deal that’s good for this kind of model, or specialize in doing the property management.

So that there could be multiple members of a team wearing hats that are specific to what they’re best at, but that we as investors, but also our clients could then benefit from a whole team of individuals who are experts in the things that they’re experts in. And we could deliver that all in one package in just a handful of steps. So that it wasn’t okay, I’ve got it I’ve got to figure out which loan to do and I’ve got to figure out what type of financing I want to do and who I want to go to for that financing.

And I got to figure out what market I want to go to and have to figure out what type of real estate strategy and I got to figure What the purchase price needs to be and what the cash flow needs to be. And I’ve got to do the rent analysis.

And I need to do the research to figure out what’s going to be the best neighborhood and the best economies with the best job markets that will attract the best type of tenant and I need to figure out what type of purchase price that’s going to be best for that. And I’m the one who has to figure out what kind of rehab I need to do and how much rehab and if I need to do Tyler, if I could just do laminator, if I didn’t, didn’t need to do either of those.

Or if I need to do a two-tone painter or one tone or whatever. And I’m the one that has to go and figure that out and find the contractors or hire the contractors are doing myself and I’m the one that has to select the 10 and I’m the one that has to figure out if they’re going to be a good tenant, I’m the one that has to coordinate rent collection. All of that is exhausting to do on your own.

Who did you take a breath through all that?

I could have gone faster. But all of that’s exhausting to do on your own. And so what we kind of created and what we just kind of want to share with you just like overview wise it just kind of in general, what we do is simplifying it to a handful of steps and really I mean, Steve, I don’t know about you by I feel like there’s really kind of four steps to the process, prepare, purchase, profit, repeat.

You got it.

Now to me, that sounds a heck of a lot better, especially if I’m still gonna make 100% of the profit 100% of the proceeds. Right? And that’s the other key is like, sometimes you can find others to work on your team to help you do real estate. But how much of the deal Are you having to give up? I, you know, I know a guy who, who says, Hey, I’ll do a lot of the real estate for you. I’ll go find you the deal.

And I’ll go make sure that my teams do the rehab, but I’m going to take 50% of the deal. What if you could keep 100% of the deal, and still have a team that does all the work for you so that you could utilize simple and conservative single-family residences in some of the best markets in the country where the vast majority of the hard work is done for you but you’re still making 100% of the cash flow 100% of the proceeds hundred percent of the appreciation. that’s ultimately what we created at df y at Done For You Real Estate, and I thought what would be cool Steve is let’s just I kind of want to break down like what is Is that we found in terms of the system that we utilize with our clients and for ourselves, and then what the pieces of that system are inside of prepare, purchase, profit, and repeat, just so that if you’re listening, you kind of get a feel for how we’ve looked at this strategy in this type of real estate and said, okay, we want it to work, but we want it to be as easy as possible.

And so what do you think, Steve? Should we just kind of go down as maybe go through and kind of break down those three P’s in the art and just kind of say, this is what we found to work?

Yeah. Love it, take it away.

So okay, so the first one is actually kind of interesting, right? The first step is to prepare. Now this is really critical because there’s a lot of people who go, I’m gonna do real estate Real Estate’s awesome I’m gonna make so much money and by the way, that’s generally the voice that they use.

And so they jump in and now you gotta do all this stuff, figure out you know, what’s next right, and preparation may be as simple as just that. A handful of conversations with people that maybe are more experienced than you are right?

Well, Kevin, that truly is the first step. Because if you’re just getting into this game of real estate, sometimes you don’t even know the right questions to ask. And that’s half the battle is even just knowing what you ought to be thinking about in preparation.

And that’s one of the reasons why when somebody comes to work with us, they start out with kind of an education and onboarding experience, where a lot of those questions are asked, there’s analysis done of your current situation.

And based on your current assets and resources. What is it that you could actually do and as you kind of have that conversation you can put together you know, a bit of a, what you call one of the first steps in this whole preparation process, an income replacement estimate. Yeah. Which allows somebody kind of see what are the possibilities based on my current situation?

Well, that’s just it. It’s an estimate, right? Like things are gonna change in your real estate plan. And so we can estimate and say based on where you’re at, and based on what you want to accomplish and what your dreams and your goals are, here’s an estimate of what you could potentially create with real estate starting today, right, we’ve got to have that plan.

And that’s part of the preparation and you kind of mentioned our, our onboarding and education process, I’ll just kind of break it down real quick. This is, this is what we do. So we know that we’re not a good fit for everybody at our company, we know that some people are gonna want to do, they’re going to want to swing the hammer, and they’re gonna want to, you know, flip a bunch of properties, and they’re gonna want to do, they’re going to want to be part of, you know, syndicated massive apartment complexes.

So but for somebody that wants to utilize Moneyball real estate, right, simple and conservative, hitting real estate singles, we’re generally going to be a brilliant fit for that kind of person. And so, we love to just have a conversation. In fact, anybody that comes and works with our company, it always starts the same way.

It starts with the thing we call an income replacement estimate conversation and, and all that means is, we’re just going to talk Like, we’ll talk a little bit about the company. And we’ll talk a little bit about who we are and what we do.

But we’re gonna say, hey, let’s look at what you’re trying to accomplish. Let’s answer your immediate questions. And then we actually put together an estimate form. It’s this little report that it’s actually not little. I mean, there’s there’s a lot of really unbelievable content. We just do this for free for anybody that wants to wait.

So isn’t that the part where like, when you send them the income replacement, that’s where you like, send them the invoice for 50,000?

That’s right. Yep, you come on over and you want to do an income replacement estimate will invoice you for 15 grand, and you’ll be good. No, of course not. This is totally free. This is one of those things that we found, right.

There’s so many people that want to get into real estate and there’s so many companies that want to charge a bunch of money upfront before you even know what you’re getting into. And so this is just and we’ll talk a little bit about this but our company, we don’t charge a nickel until somebody is closing on a piece of property.

That’s what we do. We don’t want to we don’t want you doing anything or spending any money until you’re actually completing the thing that you’re basically hiring us to help you do, right? We just feel like that’s really important.

So somebody requests an income replacement estimate, we have a conversation, we put a report together for you that says, look, here’s kind of what it looks like. Here’s kind of what the process is. And then we jump back on the phone with our clients. And we answer some more questions.

And if they feel like they want to move forward, we move to kind of the next phase in this or the next part of phase one. The phase one is just to prepare. And that’s we do something this is different. We found that it’s incredibly effective not to do a pre-qualification, but to do a pre-approval. So we’ve talked a little bit about what we found, because there’s a lot of real estate agents or mortgage brokers or people out there that’ll say, Sure, I’ll get you a pre-qualification. But a pre-qualification is not a pre-approval, they are not created equal. Right.

Yeah. Well, and I’ll talk about that in just a second. But the pre-approval process is part of the onboarding and education process because until you’re pre-approved, you don’t know what you can actually do, right? This whole idea of no money down, no credit needed that kind of thing. So there is a place for that, I guess. It’s called creative real estate. And that’s where, you know, you go and get really creative.

What we do is very simple, straightforward, traditional, real estate investing that does require some resources. So part of the education process is you get educated on what you have, like, truly, what are your resource? Yeah. Because if you have certain resources, but not others, we can still help you do real estate. Sure, right. So it’s not just one simple square box, but we do have the ability to help you figure out the best path for you. And so part of…

And it’s important because everybody’s path is different, right? Nobody’s gonna, it might be the same product. It’s single-family, residential real estate, but everybody’s path is going to be different. your risk tolerance is going to be different. How many homes you want to do or need to do is going to be different.

Yeah, and part of that resource analysis is, a lot of people don’t understand that you can use a self-directed IRA, right retirement funds to buy real estate. So we take a look at everything. And so getting back to the question of pre-approval, birth versus pre-qualification, is we’re gonna help you gather some documentation, like, you know, your pay stubs and your all of the different financial documents that allow us to know can you buy one home at a time? Or can you buy five at a time, right? And you know what your real situation is? And that is so valuable in and of itself?

And how much should we charge for that again, I forget?

Ah… Zero

Yeah, that’s right. Nothing. So here, but here’s the cool thing, right? So here, in fact, where I’m going to pre-qual everybody right now, this is what a pre-qualification is, okay? You answer yes or no to these questions, and then you’ll know if you’re pre-qualified, okay. Do you have verifiable income? Yes or no? Do you have a credit score?

That’s, let’s say six at or above, yes or no? Do you have money that you could use as it downpayment to close Yes or no? Well, if you answered yes to all of those questions, you’re pre-qualified. However, that doesn’t mean you’re pre-approved. So so you may be qualified to buy real estate. But what if there’s some additional information that a lender would need in order to give you approval? Okay? Because there’s all kinds of things that just No, there is, oh, yeah, guaranteed. There’s, there’s all kinds of things right.

And especially right now, you know, we’ve been in the middle of a pandemic, and lenders are viewing a borrower through a very different set of lenses, right, where the old sort of simple pre-qualification no longer applies, they want to know way more about your financial situation, about your financial future than ever before. And so you could answer yes to those questions and still not get approved to buy an appraiser

The rates are better than ever, but getting the loan is harder than ever. And that’s one more reason, you know, in my, in my view, why we become such a valuable resource. Yes, because we specialize in investment properties. And we know all the ins and outs and our lenders know us. And they know that not one single investor who’s come through and purchased a loan through us has defaulted. That’s right. That’s huge state that again, that not a single one of our investors, who’s purchased a property through us has ended up defaulting on their loan.

That’s critical. Okay. If you’re a mortgage company, do you want to work with a company that has a zero percent default rate? Or do you want to throw spaghetti against the wall and hope that it sticks and hope that you’re going to be able to recoup your investment in this loan that you’re making this somewhat, I mean, it’s crazy. So So this idea of pre-approval is critical, and it’s why we don’t even let you look at live inventory, right until you are pre-approved. And we know you have the ability to get underwritten on a loan, you’re gonna be very likely to close on that loan. We know what kind of price points we need to look at which kind of can dictate what sort of markets we ought to look at.

We know how many homes you can do. And I say we, you know, one of the companies we own is, is a mortgage brokerage, right? We own strategic lending. And so we have the ability to do loans for our clients in multiple states.

And what we’re able to do is because this is all we do, we’re able to kind of look at it and say, okay, you know, we have a really good idea as to whether or not this person is going to be able to be underwritten and get a loan. So that’s why the pre-approval is very different than a prequel just looks at some basic information and says, Yeah, you’re probably qualified.

Pre-approval means and here’s the difference. You ever got a credit card offer in the mail. I remember I used to get these right when I was starting out trying to build my credit. And I get this thing in the mail. It said you’re… It said you’re pre-approved. Their pre-approval is what loan pre qual czar right?

All they did is they did they took a quick look at I think this person is going to qualify, but then there was times when I would then really apply for that credit card and that get denied, right because my credit situation wasn’t great, but they took a look at high-level information and thought this person’s probably pre-approved.

Well in the loan world, pre qual is a high-level look at information pre-approval is an in depth look at you. So that you know, yes, you can get financing Yes, you can move forward. So we have a whole process, we have a whole team that works on the pre-approval with our prospective clients so that we know you have the ability to physically go and transact on and close on investment real estate done the right way. So it’s a really important piece of preparation, and we want to…

Well, Kevin… Well, you said something really important, which was and we don’t even let you look at live inventory until you are pre-approved. So you’re gonna be looking at all kinds of inventory that was recently closed on.

So like, go to the website right now. You can look at homes, those are all recently transacted. Those are not homes available for sale.

Exactly, but they’re all very similar in terms of location, and type and price point and reading turns on investment, that kind of thing. But the moment you are pre-approved, and you are assigned to the next stage of the process, you will be looking at live properties.

And the beautiful thing about that is that you will know that you can make an offer on a property and that you’re going to be able to move forward on it, there’s gonna be like, there’s gonna be no question.

Which is so critical, right? And that’s why we do the pre-approval so that pre-approval once you get that pre-approval done, that’s kind of where the prepare phase of our process concludes and you move into purchase.

Now the purchasing process, that’s kind of phase two, we could literally do three months worth of episodes on everything inside the purchase. So let’s we’ll just do like a really kind of high level.

Okay, here’s the way it breaks down. We actually give you a sign you and their vice president of the company, but really I kind of look at them as like, they’re kind of like a transaction oversight coordinator, specialist, manager, somebody that is good.

To work with you hold your hand help you decide and solidify the plan of where you’re going to invest, what type of homes we’re going to be looking at, and then introduces you to our teams in the field.

Now, we actually have teams in the field, in multiple markets, where we can help you transact real estate, meaning those teams are going to show you properties that are a perfect fit for you. And this is different. It’s a custom approach. It’s not like, Hey, here’s 20 homes that you know, are sitting on the shelf. Which one do you want, right? We’re not Netflix for real estate investors.

And we’re also not… We’re not just like a referral agency. We’re not just referring you to a guy we know on the market. We’re not referring you to a property manager that we vetted. Like, these individuals are part of the DFS team. They’ve been with us for years, they’ve done literally hundreds of transactions, or managing hundreds of properties owned by our clients.

That’s exactly right. So you get assigned somebody that’s here in our home office, it’s going to work with you and hold your hand through the process help you determine which market then in introduce you to RDF y team that’s there on the ground in the market that’s going to start to show you properties that are a good fit for you, you’ll be able to evaluate properties.

But the idea is you got to move quick because these are great deals. And so now when I say they’re great deals, we also look at this, and this will be a whole nother episode. But just suffice it to say, our definition of a good deal may differ from others you’ve heard. In fact, we’ll see if we may just want to make the next episode.

How do you define a good deal? Yeah, because I think that there’s a lot there. So you know, it count on that the next podcast episode we’ll do, it’ll be, you know, how do you define a good deal, because for us, that’s very different. It doesn’t mean there’s a built-in 25% equity position, which is pretty much nonexistent anyway.

But there are a whole set of criteria that make it a good deal so that it fits inside of the Moneyball real estate model that it’s a real estate single, and we’ll break all that down for you on the next episode, but you’re gonna see deals that are a perfect fit for the DF y model. And once you find one, that’s good, you put it under contract tract, you go through the purchasing process where you’ll work with strategic lending our in house mortgage brokers where you’ll now we know you’re pre-approved.

So now we have to do the work to actually get the loan done and go through all the conditions and, and go through all the underwriting hoops that you’ve got to jump through in order to qualify for a loan.

And Kevin, we also use all the third party operators to make sure that you know that the value is there to make sure that you know that the property is in good condition, every property gets inspected every property gets a third party appraisal.

And we do all of these things to make sure that we’re not just ram routing some property through that we’re going to make a bunch of money on that’s not how the system works. In fact, we’ll also in the next episode, Kevin, as we explain to people what makes a good deal. Let’s take the time and explain to everybody on the show how we make money on this.

Oh, yeah, that’d be great. Because obviously we’re a for-profit company, right? And I know that a lot of the things that we’re talking about are altruistic and they really are because we really do have your best interests at heart. But make no mistake, we are a business and we have to earn a profit in order to stay in business in order to provide these services to

That’s right. That’s exactly right. Yeah, well we’ll cover that So, so you prepare and then the purchasing process is everything from selecting the right market two selecting the right property to working with the teams in the field to deliver that property to then going through the loan process and getting the underwritten and getting it closed on and getting the property insured.

We actually have an insurance company that we work with to that we own that we can do the policy on the investment property so you’ve got everything you need in one place. Once you close on that property, you then start to transition into the third phase which is profit and which is going from buyer to owner and there’s a big difference. Yeah, do actually talk to that real quick. What do you what Why would you say that? Why is buying becoming a purchaser of real estate different Then owning investments…

It’s kinda like we talked about in our last episode, there’s, there’s a difference between types of investments when you, when you purchase a stock on the stock market, you know you, you have a very passive investment that is being managed completely by another company, right? When you purchase real estate, you are the owner-operator of that property. And in fact, like we talked about, you are a business owner at that point.

And so there is a transition to go from buyer because there’s the buying process that you go through, but then there’s the ownership process because owning the property, you’ll you’ll need to continue to make decisions on that property. And there will be options throughout the life span of owning that property. And the cool thing is, is we have an entire ownership team, we call them cat, our client appreciation team.

And so during that ownership process over the next five to 10 years that you may or or longer that you may own that property on an annual basis we’re providing you with a property and market review where we give you an analysis of the market. And what the market is doing will also give you an analysis of how your property is performing.

And over the course of several years, we’ll help you understand to know, what are the next steps with this property? Does it make sense at a certain point to refinance it? Does it make sense at a certain point to sell it and do what’s called a 1031 exchange into additional properties, which is kind of the ultimate goal is to create this small portfolio of properties based on that very first investment.

That’s exactly right. So this idea of preparing and then purchasing and going through that and then transitioning from buyer to owner in that profit phase where you now own a property, you’re working with our property managers that are there in the market that are facilitating, placing the tenants and finding the right type of tenant which is a whole, we’ll do multiple episodes on that property management conversation out of matches as well, because there’s so much to it, and then seeing a tenant in there that’s paying the rent that you’re profiting from where you’re generating some of those profit centers.

That’s all kind of part of the profit phase working with our customer appreciation team to kind of work in the in-between I closed on one property and I’m preparing to buy my next and you know, having our property or having our customer appreciation team do annual property and market reviews and put a whole report together for you, that lets you know what time it is with your property and what’s going on and helps you determine what decisions to make.

That’s all part of what happens in the profit phase until you get to the point where you’re ready to sell and do that 1031 exchange and that’s maybe Peter and that’s the repeat and then maybe do you know one property and hopefully turn it into two which is what Dallin did when you know if you go back and listen to the episode where Steve son talked about his process with a lot of our clients do where they didn’t even think they could get into real estate they go do one and that one over time is able to grow to the point where it lets them multiply that real estate Kevin, the funniest part of having been in business for more than a decade now is to see people like every single week now, where they are literally selling their properties and purchasing additional properties in other markets.

Like that’s the most rewarding part of this whole thing, right? Is we started with this theory? And now its absolute reality. And hundreds of our clients on an annual basis now are repeating, they’re turning their properties into two properties into four properties and just multiplying their portfolio.

In fact, we’ll include a link in the show notes of a couple of clients who just kind of talk about their story and, and one in particular, I’ll play the audio here in a second of an individual named Howard who’s just awesome, who is a kind of is like, Look, I never really would have been able to do this on my own. I never thought this was possible. But now I own multiple properties. We’ll play that here in just a second. But we’ll include a link so that you can hear from multiple clients. So when in fact you know what here I’m gonna press pause, and I want you to be able to hear from Howard real quick.

Another thing that happened when I first started, you know, with Done For You, is you guys pulled me in and says, Hey, you know, you buy your first house. And then, you know, after a while you buy another house and you sell a house and you buy two houses.

And you guys said, Hey, after 10 years, you could have 10 houses. No way. There is no way that in 10 years, I was gonna have 10 properties. But you know, as I bought more and more properties and sold them one and bought two, and sold another one and bought two, I realized that what you guys said in the very beginning was exactly right.

Okay, so, see, this is why I love what we do. Steve, you hear Howard or any of the other testimonials that we’ve got on the website, and you just alluded to just a few minutes ago, which is just this. If you get started and that portfolio can multiply over time, you begin to see a real true path towards income replacement.

And it’s just done one property at a time, one transaction at a time you prepare, you purchase your profit, you repeat. And it’s quite literally that simple. Does it take time? Sure. Is it an overnight thing? No. But over time, it can make a profound difference in your life as you work towards total income replacement.

Yeah, it’s a system that works. It’s time tested at this point. And I don’t know how to better say it, Kevin – it just works. Your

It does. Every time.

It does. So here’s what we want to make as an offer. If you go to dfy-realestate.com you’ll be able to see, there’s an orange button right on there and it says “questions, get some answers.” And we would love to jump on a phone call with you. Also, feel free to email us.

You can email me directly it’s kevin@dfy-real estate.com, and I’d be happy to answer questions or jump on a phone call with you. But for now we just thought it was important that you understood what it was that we do really what have we figured out so that all of this stuff we’ve been talking about, we can turn it into a simple way to replace income utilizing single-family residential real estate.

And what we’ve put together as effectively what for us has been the easiest way to do that and what is now, you know, blessed over 1000 clients and doing the same thing… And then beginning income replacement one property at a time and achieving income replacement for many.

So with that, visit dfy-realestate.com, happy to jump on a call shoot me an email, kevin@dfy-realestate.com. And we are going to be excited to see you in the next episode, where we will dive in, and we’ll talk about what is the definition of a good deal.

And what does a good deal look like and how do we define it because it is different than maybe other things you’ve seen, but I actually think you’re really going to love it. And hopefully, you’ll come away with that having a different perspective on real estate in general.

And Kevin, the other thing that we’re going to kind of peel back the curtain on is our model our business model, how we… How we do business. So look, we like to be as transparent as we possibly can. So you can see, you know what’s going on behind the scenes. Not only on how we do things but how we… How we make money as a company.

That is gonna be fun. So we will see you guys in the next episode. Thank you so much for joining us.

Have a good one.

Thanks so much for listening to Replace Your Income with Kevin and Steve. Do you want to connect with us and other income replacement Rangers out to obliterate the status quo and experience real retirement with income replacement through real estate? Type Done For You Real Estate USA in your Facebook search bar and make sure to like our company’s page. Send us a message while you’re there.

And I’ll send you a personal “Hello” and make sure you’re on our weekly property scouting emails where you can view weekly deals right in your inbox. Until then, thanks so much for joining us on Replace Your Income. And just remember, income replacement for you and your family may only be one property away. See you next week!