Today’s rockstar couple has graced the Wholesaling Inc. podcast before and now they’re back to share how they are taking their wholesaling business to the next level.
Brian and Misty Pistone first joined the tribe in December of 2017. However, while their wholesaling business has been massively successful, they soon realized having a family and running a business at the same time has left them exhausted, with little to no time for anything else.
Undoubtedly, this is a predicament many people (couples or otherwise) in the wholesaling space share. Sure, you’re being rewarded financially but you are also compromising your freedom and quality time with loved ones. If you ever find yourself in this dilemma, take that as your cue to take things to the next level.
The good news is there is a way for you to enjoy more freedom, spend more quality time with loved ones, and enjoy phenomenal wholesaling success. And that’s what you’ll learn more of in this episode. So sit down, tune in, and have a pen and paper handy. You’ll have so many powerful insights, tips, and gold nuggets to take note of in today’s episode!
- How they got into real estate and how they discovered wholesaling
- How they chose their first hire and the primary factor they take into account when hiring people
- What lead measures are
- One problem they often encounter when dealing with challenging phone calls
- Parting words / recommendations they’d like to share with listeners
- Why having a core value is key
- The importance of having a clear path prior to scaling
- The importance of having exceptional mentors
- Rich Dad Poor Dad by Robert T. Kiyosaki
- Traction by Gino Wickman
- Topgrading by Brad Smart and Geoff Smart
- Scaling Up by Verne Harnish
- The 4 Disciplines of Execution by Chris McChesney and Sean Covey
- Tai Lopez
- Facebook Live
- Next Level Wholesaling
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Todd: Welcome to this edition to the Next Level, a wholesaling podcast. I’ve got some special guests today, Brian and Misty Pistone, who are actually Next Level wholesaling coaching students, and I am so excited because they’ve got a great story from just starting wholesaling a short time ago to now scaling their business. And I won’t spoil it for you, but I’ve seen tremendous growth and I know that you’re going to get a ton out of this episode all the way from their first deal to now starting to outsource their business to much smarter people, we like to say, and get to stand on the shoulders of giants to create more profit, more freedom, a great lifestyle, and bring others along with the journey.
So welcome misty. Welcome Brian. I’m glad to have you.
Misty: Thanks Todd. We’re excited to be here.
Brian: Yeah, great to be here. Thanks so much.
Todd: So I’d like to start off a little bit for those of the podcast listeners who don’t know who you are, tell us a little bit about your history of wholesaling and how you actually got into the business.
Brian: So we started, it was a long journey. Basically our daughter was on the way, so we started to look into what type of investing we were going to do. By the way, both of us are in education. So I’m a teacher. Misty is a behavior analyst.
And we were in between properties. We sold the property and we were looking to get into a bigger property and an opportunity came up on the market. It was a HUD property. So, we bought it, renovated it, and rented it. And, I guess all signs pointed towards real estate. The rich dad, poor dad, I did the Ty Lopez course, which was pretty foundational. I read a lot of Charlie Monger and the Berkshire Hathaway boys, dollar cost averaging into the market didn’t seem all that attractive. And I had some experience with renovation.
So, we tried the whole real estate angle and that kind of sparked things. And then from there we started listening to Tom. So his podcasts, he’s got all that energy. It just fires you up and it was kind of like what was next in our real estate path. And we definitely resonated with wholesaling. So I’m a tech teacher and built the websites, got Podio fired up, figured out how to print my first campaign on my own yellow letter with our own handwriting, all that kind of stuff. And we did a small campaign. We actually got a decent response. I’m talking 30 or 40 letters and we got a couple of calls back and it worked out. It didn’t have a deal out of that one, but it started everything.
And somehow in the middle there, we decided that it would make sense for us to get a real estate license. We had a Misty’s brother running all over the place for us. He had his license as well. So, we were asking him to get into properties to see things. So, I went and did a night school and got the license and then attack that angle for a little while.
It got to a point where we needed a change. We needed a change in pace with our career and we knew that we needed help. So, [crosstalk 00:03:57] we jumped in with Tom. The tribe was awesome. We got our first deal after, I don’t know.
Misty: Two months.
Brian: Maybe two months in. And gave us the confidence to really dive in. So, we reinvested, kept our marketing going and it’s been a slower process for us having the part time to get back to calls, to do all the follow up.
It was starting to get stressful on everybody, having a family and, and also, being able to handle the business. So I heard your podcast, I believe it was either a podcast, it was some kind of content that you produced where you were talking about, it may have been for bigger deals where you were talking about, your expectation has to be higher. So as soon as we changed our expectation, we set our equation, our number that we were looking to receive on our assignment fees up to 20,000, the first deal we did right after that was 30,000 and then the second deal, it’s actually still in the works. It was supposed to be 20,000 but it’s now 12,000 we were at the point where we just want to close this thing.
So, basically resetting our expectations and having the confidence of the coaching and also once you prove everything is working then you know you kind of just take off from there. So that that 30,000 deal was a game changer and we decided to invest in the Next Level wholesaling program to really change the trajectory of making it more of a business. I think I’d asked that question to Tom, maybe on the coaching calls and he had mentioned that you were putting together the Next Level program and there’s quite a few of us that had all had that same question and it made sense to just work together and it’s been a blessing.
Everything’s changing. I’m not running to go try to sneak away and make a phone call all day long now. We have an acquisition specialist hired now and he’s already digging in on motivation. He has a couple of really good hot leads.
Todd: Let me stop you for a second, because you just said a lot of awesome things. And by the way, I want to really compliment you guys. You guys are massive executors, right? I mean I noticed that right away. And that’s part of the reason why I think you guys are so successful is that you’ll just take one thing, right? And then just focus in on that and then execute. So I really want to congratulate you guys for that.
But let’s talk a little bit about, cause you guys both have salaries, and kids, and also now this business. Tell me a little bit about the emotions, right? Like the feelings that you get when you’re making money, but you’re at that breaking point where you’re like, Hey, I want to make more money but I can’t because, fill in the blank.
Misty: I think a big piece when we started with the business is that working all day and then coming home and managing being parents and also the business was we were getting to the pain piece of, we really can’t do much more at this point. We are exhausted and that’s when we really jumped into what can we do to make this change and and help us continue on with the business and the success we’ve had. Once we got to that point, it was time for, we got to pick a route and get on that hard.
Brian: Yeah, I think we were at a point where it was always supportive, but it was hard. We work very well together. Starting the business together has been exciting for us. And I think especially a late call, late night, just call after call and a heavy, when mail drops, that kind of thing on a heavy day and not being a part of, a lot of times we kind of figured out the role of who could do what. And Misty was doing the comps for us, while I would field the calls and she would be comping and hanging out with our daughter. And dividing that time was very challenging. So, at a certain point you just need to get the right person with the right amount of time to do the work.
And we knew that, and that was the goal right away. And, Tom’s program has a, a couple of great modules that talk about turning it more into a business and less about is just you. And that was our intention from the get go. We’re looking for building machines that make money while we sleep. So, make a business that, that runs. We’re all about finding more properties. We’re in the market for multis, we did a duplex last summer. It’s just whatever works to set it up so that we can take back our time.
Todd: So, now tell me a little bit about the first hire that you decided to make. Because I know everybody’s wondering, I mean everybody wants to hire that acquisition manager, right? No one wants to, at some point talking to sellers gets a little exhausting. Right? I think I talked about this at the summit where it’s like nobody wants to be taking calls at eight o’clock at night or on a Saturday or on a Sunday. Or if you’ve got your kids in your arms, for those of you who are parents, and there’s a hot deal. I mean, I don’t think that was ever part of my vision, at least for the business.
Todd: Tell us a little bit about the first hire that you decided to make and your process for doing that and how’s it going?
Brian: Sure. Yeah, it’s been going very well. Through the coaching, it’s been outstanding, to clarifying who that first hire is and really understanding that the structure of a well oiled machine of a wholesale business. Basically the right person in the right seat, the process that each person fulfills and really keeping that clear and distinct for each job. So, it was very clear. Acquisition is the first thing. We already had a really great virtual assistant, Christine, she’s amazing and she helps us get all the marketing going.
So, we had a lot of inbound calls coming in, acquisitions made sense. So we jumped on with traction, the book and topgrading, the book, which is something you recommended that we read and basically a listed it on Indeed. We were doing a bunch of personal network marketing too, to try to find somebody that we knew and Facebook Lives so that people could understand that this is the business that we operate and this is the opportunity. And it really turned out to be somebody off of a Facebook Live. So, one of my former students actually.
In Tom’s course, he talks about finding folks that are maybe health conscious, working in a gym, go getter types. And I already had him in mind. We bumped into each other a few years ago. I used to run the theater at the school, the technical side of things. And, he was in one of the weightlifting bodybuilding competitions. So, we bumped into each other there and we I guess connected on Facebook.
And then, , he saw a couple of the Lives and, and knew it was going on. And, I actually reached out to him, I don’t know if it was something peripheral content that I posted on Facebook that he commented back on or we touched base, but I was like, Hey, we’ve got this acquisition specialist thing going on, is that something you might be interested in? And he wanted to do an interview.
At that point we had already interviewed a bunch of folks off of Indeed. We had, I don’t know, 40, 50 applications, a bunch of sit down interviews, a bunch of phone interviews, and then his sit down interview was just, it met all of our core values. So it was completely clear. We, Misty and I, we tag team the interview. So, we had tandem interviews, both of us there and it was very clear that his interview and his core values met our company’s core values and we called him back right away and got him started with the training. So thank you for the coaching to help us get through that process.
Todd: I mean, that’s awesome. I mean, I’m listening to that and I’m like, okay. And so number one, I know we talked about Facebook Live, but the, the beauty I think of that is we talk about looking for people who fit our core values and it’s like one to say that and put that in a job ad, right? And anyone could, a lot of people can fool you during the interview process, right? You’re going to have to dig in deep to find that in history and check references, which is not bad.
But the thing that I love that you said about Facebook Live is because of what you guys are projecting out there, right? You’re educating, you’re indoctrinating, this person, obviously he’s listening to what you have to say, right? They’re attracted to you guys both as people individually and then as a couple and as a business and your core values. And you were already thinking of him in your mind, right? And your lives had already pre-sold him on the position. And so when you guys meet, it was like an automatic connection. I mean, I think that’s like everything, the stars aligned. But I don’t think that would’ve happened if you guys didn’t take the initiative and to start marketing. I mean I think that’s awesome.
Brian: Yeah. Yeah. I mean, comes from good coaching.
Todd: So, it’s in the book Scaling Up, in the book Scaling Up, they talk about how finding people should be just like a marketing channel like you do for your product or your service, which is really, really hard. Right? Cause some people are like, well I’m just a one person company. But that’s awesome.
So tell us a little bit about how it’s going. Right? Seems like what? You’re three or four weeks in with your acquisition manager.
Brian: Yes. So we hired him right before Asheville. [crosstalk 00:13:05].
Misty: He started right before the Summit. Yeah.
Brian: So, basically that weekend we didn’t really get together too much and then we were off in Asheville, and he started going through all of our training. So, we had the core processes documented, we had all of the training videos set up. So, he, he did a lot of that. And then when we got back, we met and went through all of our internal systems, Podio, CallRail, just getting everything onboarded.
And then we’ve been doing a lot of, a lot of phone calls and he’s actually very low, he’s right down the block from us so he can pop over to our house. And, we don’t have an office yet, although I see a lot of folks are posting awesome videos of their new offices in our group. So good job guys. We’re fired up to get there.
But yeah, he’s stopping by to train. So, we get together, we go over the ins and outs of the little little things. But the big thing is having really clear core process.
And that’s what I think Next Level, that’s one of the highest values I would say is, is seeing what a pro does at the highest level. All the thought that you’ve put into it, Todd, how to really one be clear but to save time and make the most money that you can. Things like the disposition process, that was something that we needed help on and Next Level has started pushing us towards the solution. So, we’re constantly working towards that calling attorneys, brokers, different title companies, what have you, that can help really expedite our process and give us a good team that helps everybody execute faster.
Todd: That’s awesome. So now, now that being said, tell us a little bit about the vision, right? What you feel like. So we’ve got some great news with Misty. Misty, I think. Did you want to update everybody on the podcast?
Misty: Yes, yes. I will be starting working on the business full time in December. So, I was able to resign from my job and we’ll be taking things to a higher marketing levels once I’m able to focus on that full time.
Todd: Did you throw any water coolers or like, shredding paper like that or no?
Misty: Not yet. Maybe we will do a Facebook Live of it.
Todd: Now, the great thing, you know, it is funny now, Misty, one of the great things that you could do is subconsciously just find the best people at your organization and just subtly just say, Oh, it’s been great working with you. You’re amazing. I’m just so passionate about what we’re doing and, and all the people that we’re bringing on. I mean, it’s just such a great opportunity. I’m just, I just love, love, love our business and can’t wait to share it. You’ll start to maybe, yeah, you could bring along a few rock stars from your old company.
Brian: Yeah. We’ve had a couple of those conversations.
Todd: It’s funny, I used to work at Pfizer pharmaceuticals. I was selling Viagra during the hay day, and I got a lot of people who still work there who private message me and are like, Hey, I’d love to get into real estate. And I’ve never hired anybody, but it’s, , you never know where you’re going to find that next person who you can help and then who can help you really change your life. So thank you for sharing that Misty.
Misty: Yeah, thank you.
Todd: So next step, obviously you’ve gotten in the course, got your processes, you’re increasing your deal size, right? We talked about you’re doubling that, you’ve hired the acquisition specialist. I noticed two things that you have that two lead measures that you put into Podio. And if you could explain a little bit about what lead measures are, cause I’ve actually haven’t done this, but I saw it in Podio. I was like, wow, that is really good. I never, I never worded it like you did. And so if you can share that, if you don’t mind, unless it’s a trade secret.
Brian: Yeah, sure.
No, no, I was going to post it out there. , we’re, we’re the Go-Giver folks. I think you guys have created, and I said this at the summit, it’s not just the training and the wholesaling and the business side of it, the what kind of gift we give to help people, just in general. I feel like that there’s such a strong culture and there’s a lot of them go givers in the tribe. I think that’s the easiest way to put it.
But yeah, I guess to share it, bringing the acquisition specialist on, we’ve been deep diving a lot of books that you recommended, books that come up in the books that you recommended. So I’m just scrolling through to see if I can see that. I forget the title of the book that, that it was
Todd: 40 X you mentioned, that’s the four disciplines of execution.
Brian: That’s a yes, for sure.
So four disciplines of execution, basically it talks a lot about lead indicators and lag indicators. So, lag indicators is, Yeah, we’re closing deals, maybe we have more appointments, but what leads to that? The leading indicator, that that we always talk about within the tribe is like, do you know why the seller is selling? And if you don’t then you’re not asking enough questions or the right questions or you need to keep working on it.
So somewhere, I’m not sure if it was you or Tom, there was a PDF Probing for Pain that has a ton of great pain questions. We have that printed out and our acquisition specialist has it. But basically when you’re in that question number four, sounds like a great property. Why are you selling? Getting to the why, we have a question actually a couple sub questions there I think Brent uses.
How long have you been thinking about selling? Having those questions. Just handy when, when you’re in Podio. So right at the bottom of that section. So there’s question number four, I added a question, do we know why? And then it’s just as simple toggle a yes or a not yet. So, if the seller’s kind of cold and they don’t want to give us the real reason and you’ve exhausted all of your training abilities or whatever, trying to get to why then it’s a not yet. And we can maybe listen in on that call or double back and try to coach on it and then see if we can get to the yes.
So that was one question. And then all the way at the bottom of the call we added a second question. Did we get a commitment? So one of the things I learned from your training has been always defining what the next step is going to be with a date and a time and who’s going to be responsible and then that you’re going to be following up to make sure that that happened. So you’re kind of coaching folks who are somewhat procrastinators to get to the next step of whatever it is within, in the deal cycle.
So, we’re helping folks to clarify the situation. We’re asking questions to get to the bottom of their deepest, darkest problems and then giving them a solution. So, Oh, it sounds like you need to talk to your attorney or talk to your wife or whatever that next step might be. And then, when, okay, so it sounds like you can do that by Friday. Is that when we’re going to get back together? Okay, I’ll give you a call. Friday, does 4:00 PM work? And that’s then a commitment.
So, one of the things that I was having problems with where the more challenging phone calls, I wasn’t getting a commitment. It was unclear as what the next step would be. So, if you’re always focused on just clarify what the next step is, get that commitment and get a task put in Podio so that it just alerts you and you just wake up that day and whenever your time is to do your followups, it’s there and you just call out.
So the whole score boarding from 40 X is supposed to come from your team. It’s like the acquisition specialist is the one who should be designing the scoreboard. So we had talked about it and I put it in his court a couple of times and I said, well what do you think it is? And, basically he’s kind of green coming into what we already know pretty well. So we talked about it and he agreed that this would be a good thing and we dialed it in in Podio and it’s working. He pulled back a couple older leads that it wasn’t clear and that’s one of the really hot ones that we’re, it’s a weird one too. It’s like a roadside farm stand that has like a house attached to it. So we don’t know what to do with it yet, but it’s basically get it at the best price we can, see what happens.
Todd: So, that’s my favorite method of determining the value of a property, by the way, just so you know. You know, it’s funny when anyone, I know anyone in our team says, Hey, what can I pay for this? I’m like, eh, I can tell you it’s already too much by the fact.
Brian: They’ll make it a deal.
Todd: Yeah. And I’m just like, do I look like a property value guru? Because I’m like, I’m not. And I can tell you that as soon as we were trying to figure out what we can pay, it’s like we’re focusing on the wrong thing.
Tying it back to what you were saying is that if we know why they’re selling, and if we feel like it’s compelling enough reason, we can usually get the price we need. Right. One is a byproduct of the other.
Speaker 2: All right, well man, that was an awesome episode. Let me ask you this, any last parting words or recommendations or if there’s anyone out there who’s feeling like you were feeling, what is your recommendation to them? Either from emotional standpoint, or when is the right time to hire somebody, or whatever you guys want to say. Like what’s your recommendation for somebody?
Misty: One thing I would like to say is that really identifying your values so that you know what you want your business to look like and who you want to bring on board. Brian and I always had been on the same page with our core values, but once we really sat down and define them and changed them several times, it really helped us and it made the interview process and really helped us to attract the right person to come on board. So when we did that interview, we knew right away, as we were interviewing and asking questions, we were able to apply his answers to our core values. So that was a huge piece, especially with joining Next Level. That really provided a lot of clarity for us.
Brian: Yeah. I think anybody that is at the stage where they’re successful, they know they need help, and just maybe need to let go a little bit. I know that that’s part of the, is it traction? The whole let go of the vine thing.
Todd: You let go of the vine. That’s in the forward I think, or the first chapter. Yeah.
Brian: So, basically you’re just kind of at a point where you have to. You can’t just let go though. You have to have a clear path. You have to know exactly what you want that person to do and if you’re unclear of what each role within your business either needs to be or could be. And, I think jumping in, well number one with Next Level, it’s instantly clear you’re learning from the best of the best you. You have a bunch of folks in the group that are doing way more business than we are.
And, especially at Asheville, being able to sit down with you folks and really understand how certain finer nuances are within those roles. We had a lot of those conversations, what acquisition specialists are doing or , whether it makes sense for you to do certain things or it makes sense for other people to do certain things. That that was one of the biggest things that we cleared up right away. So it was like going from uncertainty to immediately certain. So I think that if we can share anything, it’s find a good mentor.
And, Todd, we sincerely appreciate what you’ve done for our business and our family changing our trajectory.
Todd: Well that’s awesome. , I wasn’t looking for the plug, but thank you very much.
And I think it’s awesome by the way. I think, you’ve got a family and you guys now have Misty exiting. I can tell you that bringing on people in our organization has been game changing. For me, I wouldn’t still be in the business if I didn’t empower others. And so seeing people make that exit slowly, I mean it’s awesome to see that. I mean it’s totally been on trajectory for us and I, I just can’t wait to see where you guys aren’t a year. I mean it’s going to be mind blowing.
Brian: Amen, brother.
Misty: We’re excited too.
Brian: Listening to Josh and Marlina and all the folks that, where they were and then now, now where they are just one year later. It’s just, we’re excited to see what happens and meet up with everybody at the next summit.
Todd: So we should be, let me compliment you guys by the way, and I’ll leave with a word here for you guys and just something that I see that you guys are doing really, really well. And that is, a lot of people, they’ll go out and they’ll hire somebody and they’ll make it happen and it’ll start working and it’s on Facebook and that’s awesome, by the way, that’s great.
But I noticed that you guys are taking a little bit more of a methodical approach, at least in my view, at least how I see, and on Facebook and the steps and the documentation and you are just implementing exactly what’s what’s laid out. And I just know because you’re doing that, you’re building this the right way. And so when you do that, the business will look drastically different 18 months from now.
So you may not have like this crazy fast, my acquisition manager made us 200 grand his first month. It’s fun to post that, but it’s probably not going to happen if you’re doing it the right way. Right? There’s an onboarding process and you guys are just being really methodical about that. And I think it’s really hard to do that as entrepreneurs. Right? What got you here, moving fast, and the hustling, and taking massive imperfect action is good to get you started.
But what you guys are doing now is you’re being very, at least in my view, very intentional. And I wanted to compliment you on that, and if you keep on that path, I know your business is going to explode.
Misty: Thanks Todd.
Brian: Yeah, thank you.
Yeah, we sincerely appreciate the guidance. I mean, that’s where it comes from. We’re just following the plan.
Todd: Well, thanks so much for being on the show. Really appreciate it. Had a great time and I’ll talk to you soon.
Brian: All right, Todd. Take care.
Misty: Okay, take care.
Brian: If you want more time, more freedom, and you want to explode your wholesaling business, then head on over to Wholesalinginc.com/NextLevel.