Posted on: June 04, 2020

Imagine owning 6 Subway restaurants. Sounds like a foolproof means of achieving financial freedom, right? Today’s guest however later realized he had to be closely involved in the day-to-day operations of the business that it became synonymous to working a really tough job.

Brian Kingdeski also learned from experience that when it comes to achieving financial independence, real estate is the best way to go. And he is right. Fast-forward 2 decades later and he has done over a thousand flips and is running Fix & Flip For Life Academy where he shares the knowledge and wisdom he has accumulated over the years to help people quit their 9-5 and become their own boss!

In this episode, Brian shared some of the tips and hacks he has learned over the last 20 years. Without doubt, you’ll be able to pick up a great business hack (or two!), so don’t miss it!

Key Takeaways

  • How he got into real estate investing
  • The outcome he was hoping to achieve
  • How he found deals when he first started
  • When he realized wholesaling was an opportunity for him
  • Why he prefers being able to source his own deals
  • What the 90/90 program is all about
  • The process he uses to determine the exit strategy for a specific property
  • How new wholesalers can gauge if a transaction is a deal or not
  • What a good wholesaler is for him
  • How he does reverse wholesaling
  • The number of deals he does in a month
  • How he’s sourcing his deals nowadays
  • How he’ll secure his first deal in Iowa with only $500 and a cellphone
  • The importance of building relationships

RESOURCES:

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Episode Transcription

Brent Daniels:
Welcome everybody to the Wholesaling Inc podcast, America’s number one podcast for new real estate investors, where we know that finding discounted properties is the most proven path to financial freedom. I am your host, Brent Daniels, Mr. TTP, and I am telling you if I can do it, so can you. So let’s get started.
Today, I am absolutely thrilled because in studio, in the TTP studio here, I have somebody that has done over a thousand, a thousand flips over the last 20 years. I’m going to pull out all of this tips, all of this hot hacks, all of the things that are going to help you either get your first deal or really explode your business. So with that, it is my pleasure to introduce Mr. Brian Kingdeski to the Wholesaling Inc podcast. Say hello.

Brian Kingdeski:
Hello. How you doing?

Brent Daniels:
I am excited. I’m excited.

Brian Kingdeski:
I’m excited to be here, man.

Brent Daniels:
We got to know each other by a local mastermind here. That was really, I mean, top, top level guys. And then you joined the TTP program, you wanted to get some more proactive activities into your business. But you’ve been doing this since 2001?

Brian Kingdeski:
Yeah. I bought my first kit in 2001.

Brent Daniels:
So, not only that… And when you say kit, you’re saying like education or training or something.

Brian Kingdeski:
Educational, yeah. Yep.

Brent Daniels:
So you’ve seen everything. I mean, you’ve gone from great economies to terrible economies to great economies again. Talk to me, how did you even get into real estate investing? Because this is interesting, and it’s something that Cody Hofhine texted me today and it’s something that I really think is interesting. He sent me two questions, okay? Why did you get into this, and what outcome were you hoping to achieve?

Brian Kingdeski:
So why did I get into it? So as I told you, I owned a bunch of Subway restaurants, and we were at a marketing conference, and it was Rory Fatt and he was joined with Ron Legrand, who is ancient at the time.

Brent Daniels:
Ron Legrand, yeah.

Brian Kingdeski:
Right?

Brent Daniels:
Still around.

Brian Kingdeski:
Yup. He got on stage and he’d offered his course for 1,495, and it was… He had three different ones, the green, the red and the blue. And it was the lease to own and lease options, and the old way we used to get deals. So I bought the stuff and I’m like, man, I want to just buy this and I just garbaged, down it all, ate it all. I just watched it all and then we actually put the stuff in play. And we were finding houses and rent to owns, and we get renters in there and collected down payments. And this is kind of how it all started.
I bought it because I wanted to get out of the rat race that I was in. So yes, I own Subway restaurants, but I was entrenched in the day-to-day operations. So I ended up having six restaurants and I was basically, you know, I bought myself a job. So I was tied to it.

Brent Daniels:
That’s a tough job, too.

Brian Kingdeski:
Yeah, and I had employees. And I loved the people business, I loved the food business, but it was your employees. You know, it was tough. You own your own business, but I couldn’t grow like I wanted to grow, because corporate, you know, they tell you when you get your next store and where it is.
I just wanted to get out of the rat race, and I just always thought real estate was the way. So I bought it, and I devoured it, and I started doing it. And then that went from doing the lease to owns, and then we started getting our first flip. Back then, we were flipping houses… And I had a couple private investors and they knew that I was doing it. They were friends and family and stuff like that, so they entrusted me. So we did one and then we’d sell it, and we’d do another one and then [crosstalk 00:04:54]-

Brent Daniels:
You’d do a flip?

Brian Kingdeski:
I’d do a flip, yeah. [crosstalk 00:04:56]-

Brent Daniels:
So this is really interesting. In the beginning, to get the capital that you needed, you didn’t have it from like a big savings account.

Brian Kingdeski:
Nothing.

Brent Daniels:
You went to your friends and family and said, “Hey, listen, I’m doing this real estate thing now and I’ve got an opportunity.” Were you going out and finding the deals yourself in the beginning, or were people bringing it to you? [crosstalk 00:05:14] a real estate agent like [inaudible 00:05:16]?

Brian Kingdeski:
Yeah. So back in the day is when the auctions were really well, working well. I needed a house, I’d go down the auction. I actually had a guy down there, Tom, I think he’s actually still doing it. He just texted me the other day, he said, “Are you buying houses,” I’m like, “Yeah.” It was funny he was texting me. So I needed a house, I’d fix it and then we’d sell it. And I call him, I’m like, “All right, man. Let’s do this. I need a house.” So then he’d gave me another house, and then that kind of dried up, and then that’s when the whole, when the market crashed.

Brent Daniels:
Everybody listening to this, if you’re listening to this, you can watch this on my YouTube channel, Brent Daniels – Real Estate on YouTube, definitely put a face with the voice. But when he’s talking about buying properties at auction, you’re talking about the trustee sales, you’re talking about the foreclosure auctions. So these are people that can’t pay their mortgage, the bank is going to take them back, but they put them through an auction to see if they can just unload them and get what they wanted out of it without having to actually own it. Now, they own these assets and then they have to get rid of them, right? So you’re bidding at the auction, getting some deals, flipping them. And you would just… One by one.

Brian Kingdeski:
One by one and then I got more money.

Brent Daniels:
One by one, and it’s led to a thousand.

Brian Kingdeski:
Yes. So basically we’ve got more money and people know what you’re doing, and they build trust in you.

Brent Daniels:
Well, and that’s the interesting thing, Brian. As you’re doing this, are you being loud about it to people that are around? Are people talking about it at barbecues? Are you just like-

Brian Kingdeski:
No.

Brent Daniels:
… they just know that you’re doing flips?

Brian Kingdeski:
Yeah. They just kind of know. And then sometimes the investors talk and stuff like that. So it’s just living life, and people know what you do. It’s like the same reason why I got into it, they want to get into it, “Oh, real estate is a good investment.” It’s not like the stock market where you’re not tied, you don’t get an actual asset. So they’re happy that they can invest in a house that they… it’s collaterized by the house and they can foreclose on me and they own the house. So, they’re happy about that.

Brent Daniels:
So the people that you raised money from, they actually were on title?

Brian Kingdeski:
They’re the bank.

Brent Daniels:
Did they [crosstalk 00:07:11] title?

Brian Kingdeski:
We own the home. But they’re like Bank of America and Wells Fargo, we set up a first… I have a whole system in how I do it to make sure they’re protected because they’re friends and family. I care more about them than… I lose some money, I’m okay with that, but I don’t want them to ever lose money.

Brent Daniels:
Right.

Brian Kingdeski:
So I’m paranoid about that.

Brent Daniels:
I don’t want people to get too distracted by your flips, because this is the Wholesaling Inc podcast.

Brian Kingdeski:
I know. I know.

Brent Daniels:
You do five to whatever wholesales a month, right?

Brian Kingdeski:
Yeah. Yeah. We do a lot of that.

Brent Daniels:
When did you start realizing that wholesaling was an opportunity for you?

Brian Kingdeski:
So man, there’s like we talked about before, I feel like I lived so many different lives. So we were doing one [fixie flipsies 00:07:49] at a time. And then that’s when the market was taken off. You know? And so then we were able to get loans in our name by just breathing on a mirror. Like I had so many homes in my name. My wife who didn’t have a freaking job had loans in her name. Right?

Brent Daniels:
Yeah.

Brian Kingdeski:
So when everything came crashing down, we lost some houses. We had some million dollar specs and we were just… Things were crazy, crazy, crazy, crazy.

Brent Daniels:
Yeah.

Brian Kingdeski:
So basically, there was about a six month timeframe where I went silent. Right? Reevaluated everything. Got more education, started learning, reading, doing the stuff that I kind of… You get, oh, I’m fine. I’m doing this, I got this. Right? But when you stop your learning and your reading and all that stuff, then you get a little crazy.

Brent Daniels:
Right.

Brian Kingdeski:
So then I went to my guy. I’m like, “All right, man. I’m ready to do this.” So we went and got our first house. I was like, “Man, if I can just make like five or 10 grand-”

Brent Daniels:
Dude, you had above.

Brian Kingdeski:
“… I’d be good.” You know? It was probably, whatever, 2007, 2008 and ended up… the house that I got from auction had some extra square footage and we ended up making 30. Right? And then that started basically launching it from there.
A lot of what got me into doing more wholesaling was basically the whole thing at the auctions dried up. So then everything I’ve learned for the last 10 years and all the information that it bought, I’m like, “Man, I got to put this in play. I got to send out postcards. I got to start whatever, door knocking,” all the marketing-

Brent Daniels:
Sourcing your own deals.

Brian Kingdeski:
Sourcing my own deals. Right? So once we started sourcing our own deals, then all of a sudden we have a surplus, right? So a lot of the houses that I buy, I’ve got investors and they want their money in play. So I’m putting their money in play right now as we’re talking current date. But there was a surplus. Then whatever, two years ago, a year and a half ago, I bought your information and then boom, we’re talking to people and that opened up a whole ‘nother world for us with more deals and stuff like that.

Brent Daniels:
Well, and we talk about on this podcast a lot that the foundation of real estate investing is sourcing your own deals, right, and doing it consistently and watching what’s working, what’s not because technically, you were sourcing your own deals at the foreclosure auction, but there’s a lot of competition there, or you’re relying on people that are going through foreclosure.

Brian Kingdeski:
There was only three or four big guys at the time and they owned it and they’re still doing it, some of them. If someone new came down, so that’s why I had a company do it for me.

Brent Daniels:
Yep. But then you had to source your own.

Brian Kingdeski:
Yeah.

Brent Daniels:
What I’m saying is if you build the skill and this, I’m talking to everybody out there on the podcast, if you build the skill of sourcing your own deals, you have the opportunity, and we’ll get into it, to do whatever you want. You can take that property down and flip it. You can wholesale it. You can wholesale it. You don’t even have to buy it and you can assign your rights to somebody else and make a spread on it. And you can keep it in your portfolio. I mean, but being able to source your own deals, puts you in the driver’s seat of being able to have those opportunities, as opposed to somebody constantly feeding you or an auction feeding you. And when that dries up, all of a sudden, now you have to figure everything out.

Brian Kingdeski:
I think the people that… the fear for the new person is, “Oh, I’m going to get this house under contract. What do I do with it?”

Brent Daniels:
Right.

Brian Kingdeski:
If you have a deal, you don’t need to worry about that.

Brent Daniels:
So talk about that-

Brian Kingdeski:
You’ll be able to get rid of it.

Brent Daniels:
Right.

Brian Kingdeski:
If you don’t even know anybody in this world, post it on Craigslist.

Brent Daniels:
Right.

Brian Kingdeski:
You’ll find somebody. I have a friend posted it on the MLS, like you said, wholetailing it, going there in the weekend with your family, clean it, sweep it, put a plugin and wholetail it, if it’s in good condition.

Brent Daniels:
I want to talk about that. I mean, because I think wholetailing is becoming more popular because there’s no inventory on the traditional markets.

Brian Kingdeski:
It’s crazy.

Brent Daniels:
There’s none. So what you can do is if you can close on this property, clean it up, literally just clean it up and put it right on the MLS with a real estate agent. You can negotiate with the real estate agent, so you’re not paying them a ton or you can even do like a flat fee listing service with some of the different companies out there. And all of a sudden, now you’re exposed to the biggest buyer pool out there. And a lot of these properties, as long as they’re not totally destroyed, can get conventional financing. When you open it up to conventional financing, it’s just way more buyers than if you’re just trying to sell it to a cash buyer database.

Brian Kingdeski:
It is. And it goes back. Again, they were like, “Well, how do I wholetail it? I don’t have the funds.” If you got a deal, you got a deal. You just reach out and you’ll find people that-

Brent Daniels:
Who would you reach out to? Give people advice on it.

Brian Kingdeski:
I mean, right now, one of the things that has helped in the last three or four years-

Brent Daniels:
Say people have no money.

Brian Kingdeski:
There’s new financing out there, like I was talking about before the show. My hard money lender, one of the guys that I use, he has a 90-90 program. So he funds 90% of your purchase. And then he funds 90% of the repairs.

Brent Daniels:
Is that just in Phoenix here?

Brian Kingdeski:
He’s in Seattle also, but mainly in the Phoenix area. But I can tell you right now, I haven’t looked, but I’m sure there’s other… because there’s so much money out there right now. So I’m sure there’s people that have those programs on a national level. And we can do some digging and try to find those for out-of-state. So basically before, when you were getting into the fix and flip business, you needed a good 50, 60, 70 grand. Now, you’ve got 20 and 25, 30 grand, you’re a flipper.

Brent Daniels:
And that’s a lot easier to raise from family and friends than the 60, 70, 80. 20,000, 30,000 is a lot easier. And then you can get the financing for the purchase and for repairs. Right?

Brian Kingdeski:
Repairs. Yeah. So when you’re doing one deal back then with that money you needed for one deal, now you can do two at a time.

Brent Daniels:
Yup.

Brian Kingdeski:
Right?

Brent Daniels:
Awesome.

Brian Kingdeski:
So the goal, it’s like, if you can get to three at a time, then there’s freedom, right? You can see the light at the end of the tunnel. Even at one at a time, if you close a deal in your wholesale… Wholesaling is great. It’s literally the eighth wonder of the world, right? So I always say, why not wholesale and fix and flip? So you do a wholesale, you get a five or $10,000 a pop. It’s great. But when you get a 20 to $30,000 a pop, that’s takes the pressure off. Oh man, I got this credit card I want to pay off. I’ve been dying to get my kids brand new shoes.

Brent Daniels:
I want to get a nice job.

Brian Kingdeski:
I want to get a job. I mean, there’s so much you can do when you have those big chunks. Doing what I do, you’ve done it before. If you haven’t done it, it can be overwhelming, right? But nowadays, there’s people that are doing it that can help you basically break the learning curve down. And then you got YouTube and watching all your stuff online. I mean, there’s so much education now. Back when I was doing it, we didn’t really have… It was, you buy a three-ring binder with kits and DVDs. You guys remember DVD, right?

Brent Daniels:
Right.

Brian Kingdeski:
You watch them, and that’s how we did it. But we had a three-ring binder with the pages and we just filled out the course and stuff. And that’s how we used to do it back in the day.

Brent Daniels:
We don’t call it education here, we call it instruction.

Brian Kingdeski:
Instruction.

Brent Daniels:
With Wholesaling Inc. No, but it’s really interesting. And you make a point and I just want to explain something real quick. When Brian’s talking about raising or getting money from private lenders, just think of it like this, our economy right now, there’s a lot of people making a lot of money in whatever it is, whether they’d be business owners, whether they’d be attorneys, whether they’d be doctors, whether they’d be highly paid professionals, whatever. And not everybody wants to put it into the stock market.
So what they do is they put it with private money lenders that’ll give them, whatever, a seven to 10% return, which they love. So when he says that there’s a lot of money in the market, that’s where it’s coming from. It’s coming from the excess that people are getting from their businesses or their jobs or whatever that the economy, as it’s rolling, naturally produces. And that’s where this money’s coming. And then that’s what you’re using to be able to fix and flip and use that money.
So that’s just a kind of a little background on, well, what does he mean by there’s a lot of money right now? That’s what we mean by that. So how do you determine which properties you want to wholesale, which ones you want to wholetail and which you want a flip? Because you have a different process than most.

Brian Kingdeski:
So when I get into a deal, because we’ve done so many, it’s just like the batter. You’re playing baseball and you’ve been playing baseball for 20 years, how many pitches have you seen? Right?

Brent Daniels:
Thousands.

Brian Kingdeski:
Thousands.

Brent Daniels:
Yeah.

Brian Kingdeski:
Same with us. We’ve been doing it for a long time. How many deals have we seen? Right. So we can analyze it. And there’s areas like East Valley. I love Mesa and Apache junction. So you send me a Mesa deal, I’m going to buy it. I’m going to look, I’m going to buy it… sometimes on the phone. I buy it without even… How many square feet? What’s your cross streets? Is it standing?

Brent Daniels:
Did you develop this skill from experience?

Brian Kingdeski:
It’s at bats.

Brent Daniels:
Okay.

Brian Kingdeski:
Yeah. It’s like, you’re just seeing houses [crosstalk 00:16:40]-

Brent Daniels:
So somebody that’s new that’s listening to this, how do they understand what an opportunity is?

Brian Kingdeski:
It’s simple. Whether you’re buyer or you don’t buy it, you take it from the beginning to the end. So say you’re going to send somebody a deal that’s new. Right? They’re going to look at it. They’re going to analyze it. What do I think it’s worth? Right?

Brent Daniels:
Say that somebody sourced it themselves. They pick up the phone, they cold call somebody. Somebody says, “Yes, I do want to sell.” Now they’re looking at it is this a deal or no deal? That’s the biggest question as we get started, deal or no deal?

Brian Kingdeski:
Yeah. Deal or no… I mean, that’s easy. I mean, I know what it’s going to look like as a flipper. So as a wholesaler, it’s two different worlds. But the point is whether you… You should go look at every house. You should go on every appointment. And whether you get the deal or not, you’re following it to the end. So say somebody else got it, what did that fixer, that guy that flipped it actually sell it for, right? So you can see the whole picture.
You got to do everything all the time. Like nowadays, I’m not going to go look at every house because I look at the numbers on the computer and if they don’t add up, I’m not looking, but you should go look at every house. It’s just getting that picture. The whole theory of what I think I saw somebody have the book on traction, they talk about 10,000 hours. So you have to get 10,000 hours under your belt, in any field in order to become a professional. You’ve got that 10,000 hours. Right?

Brent Daniels:
Yeah.

Brian Kingdeski:
You’ve done it-

Brent Daniels:
Since 2004. Yeah.

Brian Kingdeski:
You’ve learned all the mistakes and you’ve done it. So the 10,000 hours, like, whenever I’m talking to somebody, it’s like, I literally… You forget most of the stuff that you know. Right? And so when we talk, we talk at a level where we don’t remember the stuff because we just have done it so much.

Brent Daniels:
Right. Do you ever go, “You know what, I’m going to wholesale this thing out. I’m going to push the price on this thing,” and it just goes?

Brian Kingdeski:
Yeah. I mean, there’s-

Brent Daniels:
Isn’t it crazy?

Brian Kingdeski:
It’s really crazy. There’s times when I’m sending out a house, and I’m like, “This is no brainer. This is a great deal.” Crickets.

Brent Daniels:
Right.

Brian Kingdeski:
There’s times when you send it out and you think, “Man, no, one’s going to buy this,” and they do. It’s crazy.

Brent Daniels:
See, that’s the point that I wanted to get to, because I think a lot of people are too stuck in, I got to know how to comp and I need to know how to do… I need all these resources to be able to tell if this is a deal or not, and truly lock up the deal, send it out, let your cash buyers educate you. You know what I mean? How much of that [crosstalk 00:18:59]-

Brian Kingdeski:
When you’re wholesaling… Like I’m a gambler. I love to play Texas hold ’em in poker. You’re on a free roll. Okay? You just won $500 right now. The rest of the weekend’s a free roll. Take some chances. You send it out. You have nothing to lose.

Brent Daniels:
I love that. Yeah.

Brian Kingdeski:
You have nothing to lose.

Brent Daniels:
Right.

Brian Kingdeski:
So back to your question. So when we go into a deal, okay, if I’m going to take the deal on, I’m buying it as a fix and flipper, right? So I’m putting up my earnest money. So it depends on, I’ve got five or six crews. So I got to look at how much money do I need to put in play, what my crews can handle, and then I determine if I’m going to wholesale it or take it down.

Brent Daniels:
Got it.

Brian Kingdeski:
If I go to, say, I’m going to wholesale this one and I can’t wholesale it, I just take it down.
So I look at it a little different. But again, as a wholesaler, you’re thinking about the end in mind. That’s a good wholesaler. Okay? So the best way, if you can make this change in your wholesaling business, if you can have the house sold before you bought it. So the way I look at it, I look at it a little different than the other wholesalers. Okay?
So my dad worked for a carrier for many, many years.

Brent Daniels:
Air condition [crosstalk 00:20:06].

Brian Kingdeski:
Yeah. He was an account manager. Right? So I look at that like wholesalers. My buyers are my accounts, right? So I’d rather have five, six, seven guys that buy than 40,000 names on my email list.

Brent Daniels:
Got it.

Brian Kingdeski:
Right? And these guys, I take care of them. I take them golfing, take them to dinner. We have fun. Right? And so they’re my buyers. So I find a house-

Brent Daniels:
This is counterintuitive.

Brian Kingdeski:
It is.

Brent Daniels:
It doesn’t talk about sending it out to everybody. Right? The [Kigali 00:20:38] model of thousands of thousands of thousands. But what you’re saying is I’ve got relationships with these guys. Once I get it to them, I know that they’re going to close. Do you think you leave money on the table?

Brian Kingdeski:
I probably do.

Brent Daniels:
Yeah.

Brian Kingdeski:
But again, you think about the whole account rep, okay? So you got 10 people that each person may be a hundred thousand dollar client. Okay? So I take care of them, but they call me, they’re like, “Hey man, my house is about ready to… I just fixed it.”

Brent Daniels:
I’m ready.

Brian Kingdeski:
“[crosstalk 00:21:06] I got an offer. I’m ready for a new one.” I’m out looking for a house for them.

Brent Daniels:
So you’re almost reverse wholesaling the person?

Brian Kingdeski:
I’m reverse wholesaling.

Brent Daniels:
Yeah.

Brian Kingdeski:
But you do that, man, your world changes.

Brent Daniels:
Sure.

Brian Kingdeski:
Your world changes.

Brent Daniels:
And then really the platform of this podcast, and we talked about it in my office before we stepped in here was you’re like, “Brent, I have to encourage your audience, the wholesalers out there, to be doing a flip. At least one, at all times, or at least get going because this is going to get them big, big, big, big checks. And especially if they are doing a part time, if they got a job, if they need a big, just a ton of income coming in,” right? I mean, that’s really, your message here is, “Hey guys, wholesaling’s great. It’s phenomenal. It’s a free roll.”

Brian Kingdeski:
It’s [crosstalk 00:21:55]-

Brent Daniels:
“But listen, do a flip. Get into the…” And I think what scares a lot of people is, I don’t know the contractors. I don’t know what to pick out. I don’t know how to manage it. I don’t have the money. Right? These are common things.

Brian Kingdeski:
Just like if you were to start wholesaling, right? Think about all the momentum. It’s like the snowball at the top of the hill. And then you push it down frosty and it starts getting bigger and bigger and bigger. It’s just like that with wholesaling. So whenever you do something new, you want to start karate, you want to start weight lifting, you’re going to put a lot of energy in the beginning. But once you go on, like you’re talking about, you’re picking on me. I’m almost 50, right? I’m in the best shape of my life.

Brent Daniels:
Right.

Brian Kingdeski:
I didn’t get there in a week. Right? I started the habits five, six, seven years ago, eating healthier and then training more and then now I’m always reading books and it’s just a way of life. But once you get that going, then it’s easy.
So like I said, you can easily try and find some guys on… You post an ad on Craigslist, we’ve done that before. When we have so many houses, we need new people. It’s crazy. People want to work. Right? So I have a whole system of how I do that. But anyways, you do that. You find that person, right? It’s just, you test them. It’s like dating a girl. Right? You go out-

Brent Daniels:
With your contractors [crosstalk 00:23:19]-

Brian Kingdeski:
Yes. You go on a date.

Brent Daniels:
Yeah.

Brian Kingdeski:
Right? You try him on a first house or her, if you’ve got a handy woman.

Brent Daniels:
Sure.

Brian Kingdeski:
But you try them. And if they don’t work, you find a new one.

Brent Daniels:
Got it.

Brian Kingdeski:
But I tell you what, they’re going to work. Right? We’ve had success, right? So once they do one house, next house, you’re spending half the time. Right? You do another house, right, your time and time is less. And we buy… We have a whole buying criteria. So we buy homes that I always say, there’s a thousand people that want to buy a home. I want to appeal to all of them if I can. So I don’t do anything odd. I don’t buy in weird areas. I don’t buy 500 square foot houses. I don’t buy one bedroom, one baths. I don’t buy near a train tracks. I buy where most people want to live.

Brent Daniels:
Got it.

Brian Kingdeski:
Right?

Brent Daniels:
Yep. That’s rule number one.

Brian Kingdeski:
That’s rule number one.

Brent Daniels:
Yeah. So talk to me because your son just got his first deal? Right?

Brian Kingdeski:
Yeah. He bought his first house for his first personal residence.

Brent Daniels:
Okay.

Brian Kingdeski:
Yeah.

Brent Daniels:
Got it.

Brian Kingdeski:
So this is crazy, man. I just had this idea back in the day in my head that I wanted to help my kids be financially free. Okay? So when I went to school, I played baseball. I had shoulder surgery. And so then the last year, my dad lost his job and there were some… a little bit of gap there that I went into student loans. I got student loans. I went into debt.
So having student loans starting off and then I got married, and then when you’re starting off life and you have this debt, it’s just, it’s tough. I’m like, “I don’t want that to happen.”
So what I did is I created an LLC for my kids back four or five years ago. They’re all members of the LLC. Right? And so we had this plan all along, like, okay, we’re going to make sure that they have a company. And this company has been flipping houses for years. Okay? It’s built up money, so now they have tax returns. Right?
So then we had the old credit hurdle. So then they were additional signers on our credit cards. My son got his first car. So he got a small car loan, right, just to build credit. Right? So we get the credit piece. We got the income piece. Obviously, I started, and you’re closer to my age, I guess, than a lot of our viewers, but I started working while I was young. I was a caddie. I was the big guy. So I carried two bags on a golf course. Right? I started when I was 12, 13, 14 years old. And then I worked in the hotel industry, but I’ve always worked. I taught my kids the same thing.
So they know like, if they want something, they don’t ask me. They work and they have their own money. So they’ve got jobs. They’ve got credit. They got this company, right?
So what we did was, there’s some steps. You got to make sure you’re doing this the right way. But basically, the hard money lender, we found a house in Mesa that I actually bought from you guys. Okay?

Brent Daniels:
Yeah.

Brian Kingdeski:
Newly built.

Brent Daniels:
Yeah.

Brian Kingdeski:
And so we bought the house, we took it down with hard money in his name. So I had my crews come in there, we fixed it. It’s all the new stuff, grays, whites. It looks crazy, right? Buy her for 175. Right? And so what we did is we fixed it. And then once we fixed it, I’d already talked to my lender and my son, Zach, was already getting qualified with the lender. Right?

Brent Daniels:
Yeah. He’s 21?

Brian Kingdeski:
Now, he’s 23. [crosstalk 00:26:42] been a year, year and a half ago or so.

Brent Daniels:
Yeah.

Brian Kingdeski:
So what we did was at the same time, and this was all planned and organized, right? So the house got fixed. He moved into the house. The lender ordered the appraiser to come in, appraised the house, right, appraised for 265, right? He bought the house for 210, financed out the hard money. The hard money went away. He got paid. My son got a house with zero money down, no closing cost, a brand new house. And he’s got 50 [crosstalk 00:27:14]-

Brent Daniels:
In equity.

Brian Kingdeski:
In equity day one.

Brent Daniels:
Ring that bell. That is incredible.

Brian Kingdeski:
Isn’t it awesome?

Brent Daniels:
That’s incredible.

Brian Kingdeski:
That’s a true story, man.

Brent Daniels:
That’s incredible.

Brian Kingdeski:
True story.

Brent Daniels:
I think that resonates with a lot of people that are looking… They have small kids. They’ve got this thing growing. I mean, this is phenomenal. I mean what a great-

Brian Kingdeski:
It’s crazy.

Brent Daniels:
… set up for… What I find is when you don’t have all that stress of all that debt and all that interest coming into your life, all of a sudden, you get the opportunity to do the things that you really want to do, that you’re really passionate about, what really brings you purpose and fulfillment. And to be able to give that to your kids, what’s better than that? I mean, that’s the whole goal, right?

Brian Kingdeski:
This house flipping entity, pays for the school, pays for the cell phones.

Brent Daniels:
Right. It’s incredible.

Brian Kingdeski:
Yeah.

Brent Daniels:
It’s incredible.

Brian Kingdeski:
So then I don’t have to pay for it.

Brent Daniels:
And just to give somebody an idea, how many deals a month are you doing wholesale? How many are you doing flips? How many deals do you got going on, right?

Brian Kingdeski:
Right now, we’ve got like 25.

Brent Daniels:
25 properties [crosstalk 00:28:16]-

Brian Kingdeski:
25 properties. It’s crazy.

Brent Daniels:
Yeah.

Brian Kingdeski:
And we just, I told you before the show, we had like 32, 33 going on. And it was really, really crazy. But yeah, and then we’ll do anywhere from five, six, seven wholesale deals a month also. So-

Brent Daniels:
This is a combination of reversals. How are you getting your deals? How are you sourcing it?

Brian Kingdeski:
You know, TTP. We do a lot of other stuff that everybody else is doing. So we get from other wholesalers and MLS and people bring us deals and postcards and SMS and RVM and all the stuff that everybody’s doing.

Brent Daniels:
How important is it to really like… We call it, Jamil and Pace and I call it squatting up, right? Just really squatting up with people that you’re competitive with, people that are in money, people that are in title. You know what I mean? How important are the relationships that you’ve built to being able to keep this thing going into the future?

Brian Kingdeski:
They’re key. Right? And the other thing, if you’re flipping and you look at it from that mindset along with wholesaling, so the flippers, especially here in Arizona, there’s so many wholesalers, I don’t even know.

Brent Daniels:
I don’t know.

Brian Kingdeski:
What would you say?

Brent Daniels:
I don’t know. In Phoenix?

Brian Kingdeski:
Yeah. In metropolitan Phoenix area.

Brent Daniels:
A thousand maybe?

Male:
Maybe.

Brian Kingdeski:
So how many fix and flip guys are there?

Brent Daniels:
A couple hundred maybe.

Brian Kingdeski:
[crosstalk 00:29:33], right?

Brent Daniels:
Yeah.

Brian Kingdeski:
So you see the math?

Brent Daniels:
Yeah.

Brian Kingdeski:
So if you’re fixing and flipping, there’s opportunity, I think right now.

Brent Daniels:
Awesome.

Brian Kingdeski:
Right? Because a lot of the guys that I know a lot and like in our mastermind, they’re like, “Oh, we used to flip. We don’t do it anymore. It’s too hard. Too many headaches.” It is, but-

Brent Daniels:
There’s opportunity there.

Brian Kingdeski:
There’s opportunity. But nothing, nothing that we do in our life… I always say that I’m unemployable. You’re probably unemployable. I couldn’t go get a job. Right?

Brent Daniels:
No.

Brian Kingdeski:
But I’ve lived my last 20 years. This August will be 20 years since I bought my first Subway that I was on my own. Right? So I’ve lived the whole 20 years of my life that I’ve financed and funded everything that life takes, every vacation and schooling and every bandaid and stitches for the kids and everything, cars and houses like through our life that we created as wholesalers and fix and flip guys, it’s a great life.

Brent Daniels:
It’s the best.

Brian Kingdeski:
Right?

Brent Daniels:
It’s not even close.

Brian Kingdeski:
There’s times you’re like, “Man, I wish I had that monthly check,” right? But in the beginning, you’re going to get better. You’re going to get better. Hanging out with people like you, right, and your community, these people that are doing this that are scared right now… There is times when I first started, I was eating filet. I was eating ramen noodles. Right? And that pattern went for a while. Right? And then things got better. Right? And then I learned, and I had better relationships and I started figuring things out, better systems and automations. Right? And then now your income, you can expect it, right? Just like what you do. You teach this, right?

Brent Daniels:
Yeah.

Brian Kingdeski:
You get the education that you provide, right, and then all of a sudden, it’s a number’s game. You make this many calls, this many leads, this many appointments-

Brent Daniels:
It becomes predictable.

Brian Kingdeski:
… this many deals. Right? So it’s the same thing. So then it’s predictable.

Brent Daniels:
Yep.

Brian Kingdeski:
It’s scary. But man, we’re examples that you can do it, right? It’s not the easiest. There’s times when I’m stressed. There’s times when the guy that works at whatever job, nine to five, he goes home, right? It’s not for everybody. He goes home and he wants to drink a beer and watch a game. Right? We’re sometimes answering the phone-

Brent Daniels:
Not people that are listening to this podcast. It’s not-

Brian Kingdeski:
But you know what I’m saying?

Brent Daniels:
I mean, it’s a small segment of the population. We’re crazy people.

Brian Kingdeski:
It is. But there’s time you’re going to have to work at night sometimes is what I’m saying. Like on Saturdays, I go look at houses. There’s time on Sunday, if a deal comes up, I’m going to go look at the deal.

Brent Daniels:
Listen, if I want a shot of dopamine to my brain and get me pumped up at 7:30, 8:00, whatever at night, it would be when the calls are coming to me, something of somebody saying, “Hey, I just signed the contract.” Oh my gosh. “Hey, I’m ready to sell it now.” Oh my gosh. It’s so exciting. I don’t care what time of day it is. It just excites your life because you know, one, you’re solving the problem with the seller. There has to be a problem. And two, you have the opportunity to match it up with amazing people that are going to do a fix and flip or keep this in their portfolio or whatever. It is. It’s just, it’s the best business ever.

Brian Kingdeski:
It is.

Brent Daniels:
So let’s touch it. Because you did something incredible. You put all of your thousand deal knowledge into a package that people can check out at fixandflipforlife.com, fixandflipforlife.com. And that’s really, we know, in the Wholesaling Inc, we don’t coach fix and flip. We don’t go into it. We’re talking about getting the foundation of your real estate business from getting deals, from sourcing opportunities.

Brian Kingdeski:
Yes.

Brent Daniels:
So you put something together and tell us a little bit about it and-

Brian Kingdeski:
Yeah. I mean, it’s a lot of stuff.

Brent Daniels:
And you have a discount for everybody.

Brian Kingdeski:
Yes, for all your students.

Brent Daniels:
Yeah, just the Rhino tribe.

Brian Kingdeski:
I can’t, the tribe, the tribe, the tribe. Yeah. I mean, a lot of the stuff that we talked about, it’s in there. We’re going to show you how to source the money. We’re going to show you how to find the deals. A lot of the stuff we use is what you use. We’re going to show you how to find the contractor. We’re going to show you what education to get and books and stuff that are good sources to basically get your mindset right.
And then we’re going to show you how to build a team. A lot of it in our business, you have a good team and that’s the difference between being a solopreneur and then making it to the next level, not getting those phone calls at night was that transition of the team.
Like, so my team that I have around me is an awesome team, right? It’s a process of you letting go and building a team. So it’s something that I’ve wanted to do for years. Like, I feel like all of the mistakes that I made and everything and the story that I have, I feel like I just wanted to put it on, put it in information together to basically help people out.
Like if I had this information when I started, so the millionaire real estate mindset, the mastermind book or whatever it’s called, but he has a chart in there about-

Brent Daniels:
The Millionaire Real Estate Investor.

Brian Kingdeski:
Yes.

Brent Daniels:
The Gary, Keller book?

Brian Kingdeski:
Yeah.

Brent Daniels:
Okay.

Brian Kingdeski:
So he talks about that chart in there where there’s the zero, and then there’s up top. He talks about when you’re getting stuff like education, you’re starting here instead of starting here. I started it here. You probably did too, right? Did you have help in the beginning? Are you smart enough? I wasn’t.

Brent Daniels:
I got a coach right away.

Brian Kingdeski:
I wasn’t.

Brent Daniels:
I got a coach right away. So that was-

Brian Kingdeski:
This is why he’s here and I’m here, right?

Brent Daniels:
No, that’s great. So this is a question and I haven’t even really prepped you for this. But this is a question that people love me to ask, and I love asking it just to kind of get your response because everybody’s is kind of different.

Brian Kingdeski:
Yeah.

Brent Daniels:
Okay. I drop you in the middle of Iowa.

Brian Kingdeski:
Okay.

Brent Daniels:
Let’s say Davenport, Iowa. Okay? You don’t have any buyers. You don’t have anything. I give you 500 bucks and a cell phone. How do you get your first deal?

Brian Kingdeski:
Man, that is a really tough question.

Brent Daniels:
Yeah.

Brian Kingdeski:
I have an information that I’m providing for your students. I have been there. There’s 50 something. I think there’s 53 ways to find deals. Right? So they’re in that list. There’s a handful of them that are free. Right? I’d start doing the free ones. Right?

Brent Daniels:
Okay.

Brian Kingdeski:
So what’s the main one? What’s the main one?

Brent Daniels:
You’ve got to talk to people.

Brian Kingdeski:
Talk to people.

Brent Daniels:
You got to talk to people. So what? Are you going to door knock? Are you going to give a list to call? What are you going to do?

Brian Kingdeski:
One of the biggest things that also the transition that helped me a lot was as entrepreneurs, you want to kind of be by yourself. You think you got this. Man, when you go out there and just get yourself out there and talk to people, it changes everything. Even like you hate the people… Like I go to a gym, right, every day and I see these same people every day, right? Same people every day I’m there. I go up and talk to them sometimes. Right?
And I’m not hitting on people. There’s dudes I go up on. There was this guy that was like big boy. Right? And he had lost a lot of weight. I’m like, “Hey man, I’ve seen you for five years. Good job. How much did you lose?” “55 pounds.” I’m like, “Good job.” Right?
So anyways, you drop me off. I’m going to go talk to people at restaurants. I’m going to go talk to people. I’m going to tell everybody what I do. Right? And then I’m going to door knock. I’m going to do whatever I can do for free. I’m going to meet with real estate agents and then-

Brent Daniels:
Ask them to send you the [crosstalk 00:36:26] houses. Yeah.

Brian Kingdeski:
Send me deals. Yeah. If I can find online, I’m going to get it online on Craigslist…

Brent Daniels:
I love it.

Brian Kingdeski:
… or whatever. There’s free ways and all this stuff. But at the end of the day, one of the biggest things, if you’re in this business, is just, you might as well build relationships. Like whenever we’re in this mastermind, when you walk in there, you’re a face that I cling to, because you’re good people. I’ve been around you. You’re honest. Like I walk in, I’m like, “I’m going to go sit next to him, because he’s going to shoot me straight.” Right?
But it’s all about relationships. It is. It’s not about… If you’re going to get in this deal and you’re going to try to find out how much money you can get off this deal or this deal, and you’re going to try to push it, I’m telling you right now when that person goes and fix and flips and he doesn’t make any money, he’s not coming back to you.

Brent Daniels:
Right.

Brian Kingdeski:
Right?

Brent Daniels:
Yep.

Brian Kingdeski:
So yes, you want to get a lot out of your deals, but you got to think about it as get your 10 buyers and they’re going to feed you for the rest of your life. Take care of them.

Brent Daniels:
Awesome.

Brian Kingdeski:
Make sure they make money and you’re going to make money.

Brent Daniels:
Awesome.

Brian Kingdeski:
Right?

Brent Daniels:
Awesome. Thank you, Brian.

Brian Kingdeski:
Yeah, man.

Brent Daniels:
That was incredible.

Brian Kingdeski:
Thanks, brother.

Brent Daniels:
Anybody, guys, if you guys are listening to this or you’re watching it and you’re interested in joining the most proactive group in real estate with this guy, it is the TTP Program. Go to wholesalinginc.com/TTP. That’s wholesalinginc.com/TTP. Scroll down, check out what it’s about. Check out the testimonials. If it feels good in your gut, sign up for a call. I’d love to work with you personally. And that is it. Brian, thank you again so much.

Brian Kingdeski:
Thank you, man. Thanks for having me. I enjoyed it.

Brent Daniels:
Guys, if you are interested at all in fix and flip, definitely check it out. And guys, I love you guys. Until next time, I always encourage you to talk to people. See you.

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