Posted on: November 24, 2020
WIP 565 | Lesson From Robert Kiyosaki


If you’re in the real estate business, it is highly likely that you’ve heard of Robert Kiyosaki, the entrepreneur, investor, and motivational speaker who wrote the bestselling book, “Rich Dad, Poor Dad.”

Undoubtedly, Kiyosaki has been an inspiration to many including our very own Brent Daniels. In this special episode, Brent shared the one lesson he has learned from Robert Kiyosaki that has made him a millionaire.

If you want to know how to join the millionaire’s club, this episode is exactly what you need to hear!

How One Lesson Learned From Robert Kiyosaki Helped Me Become A Millionaire

Episode Transcription

I wanted to start with, who’s read this book, Rich Dad Poor Dad? I would say 90% of the interviews that I do on the show, the spark that got people into real estate was this book and it’s because he sold 40 million copies of it. This has been on the bestseller for twenty years or something. It’s the number one finance book of all time. The interesting thing about this book is it sparks you, but it doesn’t show you what you need to do. It doesn’t show you how to get deals. “Great. I’m going to be a real estate investor.” Now what? How do you find opportunities?

I read this book when I was 20, 21 years old. I’ve got a mushy brain. I’m like, “This is it. I’m going to be a real estate investor. I’m going to own so much real estate and it’s going to be ridiculous. I’m going to own it and I’m going to be wild. I’m going to get this stuff called passive income. That’s where people send you money. It’s absolutely incredible.” I’m like, “What am I going to do? I’m going to go get a real estate license.” I didn’t know anything. I got a mushy brain. I’m 21 years old. I don’t know what to do. How do you find these deals?

WIP 565 | Lesson From Robert Kiyosaki

Lesson From Robert Kiyosaki: We have responsibilities. We have kids, family, and bills. That’s why we want to start a business.


I don’t know what escrow is or earnest money or title companies or lenders or any of this stuff. I didn’t even know what a realtor did. It was something you saw on TV or commercials or you got magnets that were on your kitchen or something from these people. I had no idea, so I went to real estate school. The interesting thing about real estate schools is they teach you. They educate you on the terms and they make sure you memorize them because you got to pass a couple of tests. Maybe not the first time, maybe the second time. It educates you and that’s beautiful and wonderful, but it doesn’t instruct you.

I want to make a parallel between this book and what it teaches, what we are doing and how we can implement that so that there’s a how-to go with this book. Do you guys remember when Robert Kiyosaki talks about the cashflow quadrant? Who knows what E stands for? It’s Employee. This is where 80% of America lives. From January 1st to the end of September 2020, 80% of people are paying for their income tax and interest payments on the things that they buy.

Why don’t we have savings? Because we have three months of reserves to be able to do something with. Why can’t we invest in real estate? Because we have three months of reserves from a job, from being an employee. This is working for somebody else and that’s where we start out a lot. We’ve got responsibilities. We’ve got kids. We’ve got family. We’ve got certain bills to pay. We’re out there. A lot of people start here and start part-time as an employee.

The beautiful thing about real estate is the barrier to move from an employee to a self-employed. You can make that choice right now. You could be self-employed right now. You can go out onto any street in Phoenix, any street in an older area, any in Mesa, any in Apache Junction, Glendale or wherever you want to go and you can find ugly houses. It’s 2020. You can get their phone numbers like that and you could call them.

You are a self-employed person. You are working for yourself. You’re not a business yet. You’re out there and you’re hustling it up. I know people that stay in this realm and work completely by themselves and make $1 million a year in real estate. These are the choices we have to look at when we’re looking at what we want to do to set up the foundation of our business so that we can work within our self-awareness, within what we want to do with our lives.

You need to start a business. You need to get people working for you. That’s how you build true wealth.

Some people say, “I don’t want to be a leader. I don’t want to read leadership books. I don’t want to manage people. I don’t want to hire them. I don’t want to train them. All I want to do is I want to get on the phone. I want to talk to distressed property owners. I want to get that deal under contract and either flip it, hold it, wholesale it, wholetail it or whatever it is.” That’s what they want to do and they want to stay in this.

I call this the LeBron James area. This is the highly-paid self-employed person. This is the person that is out there. They are going, they are doing it, they are hustling, they are working and they eat what they kill. This is Robert Kiyosaki saying, “You need to do these things. You need to move from this quadrant to that quadrant to get there.” No, you don’t. You just got to do what you want to do. You got to do what makes you happy. You got to do what is in your DNA to be able to do what feels good in your bones, what feels good in your gut.

If you want to stay and stay in the world where you are sourcing your own deals and you’re selling your own deals or you’re flipping them or you’re doing whatever and keeping all the money and not having to deal with management, payroll, taxes, and all these other things, then you can stay there. You can make a ton of money. What we’re told to do is, “You got to be a business owner. You got to start a business. You got to get people working for you.” That’s wealth.

How you build the true wealth is you got to start having all these people. Now you’ve got people that are making calls for you. You got people that are texting for you. You got people that are doing your acquisition management. You got people doing your sales. You got people selling your deals. You got people doing all these things. It’s beautiful and it takes a lot off your plate but remember, you got to build up that engine. You are now financially responsible for those people that work for you.

Are you ready for them? Do you have enough leadership experience? Do you want that? Do you want sleepless nights worrying about all the things that are going on in your business? Do you want a situation where you’ve got a business where you are growing for 2 to 5 years, you need to be in it every single day, doing every part of it, all the different hats? The marketing, the accounting, the management, the sourcing of deals, pulling lists, doing all this and finding ways to find opportunities. Do you want all of that stuff? A lot of people do and that’s great.

You can get to the point where you are building a business where you’re not necessarily working the whole thing. Work on your business, not in your business. Net $1 million, then you can start that. Everybody wants to be here in two seconds because they want to delegate the stuff that they don’t want to do. That’s what you do. All of a sudden, you take home 10% of the gross as your profits and now you’re making less than this dude over here that’s making $700,000 a year net to them into their family, buying property, paying off debts and winning.

This, you’ve got potential to expand, scale and be able to do something special, lead people, create a brand and create these things, have a group, a family and a team. All these exciting things to be able to get all the opportunities and to be able to focus on building the business that’s going to be long-term so you don’t have to be hustling all the time, the problem is people don’t want to hustle too long. They want to get to this too soon. I think it’s a huge mistake and I don’t want you to do that.

WIP 565 | Lesson From Robert Kiyosaki

Lesson From Robert Kiyosaki: There’s just opportunities out there. If you talk to enough people and you’re proactive enough, you’re going to generate leads and convert them to sales. That’s lead generation.


I want you to build this as much as you can to the point where you feel comfortable being a leader, growing, building and doing that type of stuff. That’s being in the business and that’s not necessarily working day-to-day on just doing the deals, comping the deals, looking at opportunities, going to the properties, managing your crews and all these other things. Being a business, you can get to a position. I am here now in my thing. I was here for a long time. In this spot, I talked to 40,000 property owners. I called 3 hours a day, 5 days a week for 3.5 years. I built it up before this started going. This was all because I needed to make money and keep it for myself and my family.

I got to the point where I worked about ten hours in my real estate business. It’s a $1 million business. $1.2 million is what we’re on track to make in 2020, which allows me to do a lot of other things, the coaching, the content, YouTube, podcast, and these types of things. I leave Friday at 1:00. I go to Flagstaff to my cabin. I come back Monday afternoon. I work Tuesday, Wednesday, and Thursday and Friday mornings, I have my team meeting.

It takes a while to get there. I’ve been licensed since 2004. I’ve been doing this for years. Getting to that grind, getting into that groove, building it up and making sure that you’re keeping the money that you have, but this is the dream. This is that dude sitting on the beach drinking a Corona kicking it with his laptop going, “Another wire hit my account.” That’s the dream. That is what you get from being here, but you got to build up those skills of making sure that you have the right people around you.

We can go into how to structure that but right now, that’s where it’s at. This is the supremo. This is when you become that investor. This is when you become that person that maybe you’re taking all the money from here and here, you’re buying all those properties and you’re starting to get that cashflow. You’re starting to invest in the properties and you’re starting to get the passive cashflow.

Brian makes a bunch of money and then started lending it and started connecting with people that have a bunch of money. You start lending out and you become the bank. Now, you are an investor. Because he lends the money, somebody else is out there doing the flips. Somebody else is out there finding the deals. By the way, meet up with him if you guys need some money.

This is great. This is the evolution if you want it to be. This can be you owning the rentals and owning these things that people call legacy wealth. What does that even mean? You don’t know. You’re a dead person. You’re a skeleton. You’re like, “It’s for my family.” Where’s your family? They’re taken care of. How about we teach our kids the legacy and all these things?

Name me one of Rockefeller’s grandchildren? Anybody? They had the most money on Earth. It’s silly but I get it. You want to change it. It makes sense if you’re coming from a tough situation, you want to build up, you want to get out of that and you want your family to have more opportunities. I completely understand that, but that goes into being an investor. That goes into buying these assets that you were okay buying and forgetting and building up the equity over years and years or building a fund of money.

The evolution is you either become somebody that’s doing development and that’s not even an investor or you invest in developments. You’re either the bank or you own a ton of rentals. You own a ton of property in our world. There are other people that invest in stocks and all that other stuff, but does the evolution makes sense? How do we get from employee to self-employed?

This is the biggest step that people are having an issue with because to get out of employee into self-employed, we need to be able to not only replace our income, but now we’re responsible for our own taxes, our own health insurance and our family’s health insurance. It’s not just, “I make $3,000 a month, $5,000 a month, $8,000 a month.” What else do you have with that company? There are a lot of things that are involved there. That’s how they keep you in because they get bulk discounts on health insurance and everything else.

What is the jump to get here? It’s sourcing your deals. It’s getting through the process. How do you go from an idea or the faith that you can do the business or that you can do it on a high level to the point where you’re closing your first deal and it’s no longer faith, it’s a fact? When you’re growing your business and you’re doing a couple of deals here and there, but now you’re doing 10 or 15 deals. Maybe you’re doing less deals but you’re making more money per deal to where all of a sudden, your income’s bananas.

It’s these three steps. The whole real estate business is right here. There are only three main buckets that lead generation goes into. The first one is to get referrals. This is what a lot of people do as they start out, a lot of people that haven’t heard of me do is they wait for referrals. They talk to real estate agents. They say, “Real estate agents, if you find a deal, I want to do a fix and flip. I want to buy a rental. I want to do something. Can you send me any deals that come your way?” That’s their lead generation. There you go. Hopefully, you can buy them or you can get the opportunity to buy them.

Referrals. You become the guy or gal in your market or your area. “Family, friends, Facebook, Instagram, YouTube, I buy properties. I buy them cash. I want the ugliest houses that you can sell. I want all these things. Send them to me.” It’s beautiful. This is where you definitely want to start building a reputation so that you get referrals. The beautiful thing about referrals is you get to keep all the profits. If people refer you to those deals, you’re going to keep all the profits.

Start building a reputation so that you get referrals. Because the beautiful thing about referrals is you get to keep all the profits.

The problem with referrals is it’s not predictable. You don’t know when your aunt is going to talk to somebody in a bathroom of Applebee’s that inherited a property and jibber-jabbers. She’s a quadruple expressive personality and gets you the address and phone number of this gal and passes it over to you, which has happened to me, which is a true story.

You don’t know when that’s going to happen. You don’t know when you’re going to get the referral, so it’s unpredictable. It’s hard to start making all your choices, all your big business decisions like going into this business full-time or growing it or scaling or hiring people or all these things, going into different markets if there’s no predictability in your business.

The second way is to buy it. It’s simple. It’s marketing, direct mail, internet and bandit signs. Those are the big three that everybody talks about, which are fantastic but do you know the average cost to get a deal from direct mail in Phoenix? $9,500 for one deal. “I sent out $220,000 and I got a deal.” Great. Do it again. You’re going to be the richest person in Phoenix.

You could get lucky on one, but to build a business on it, it’s $9,500. Do you know what it is for internet leads? $11,000. This is networking with all the top guys in their state. Can you imagine spending $11,000 and hoping and praying you to get a deal with no guarantee that you’re going to get it closed? How heavy would that feel?

“I know the account’s lower. I got this. It’s going to be incredible. I bought a website. The real estate thing I’m doing, it costs a little bit and then it’s for marketing. It’s going to flood through. We’re going to be so rich. It’s only $11,000 this month. I have to spend $11,000 next month, too. I don’t want to stay with my parents.” It’s heavy and anxiety, stress and all these things. It’s like, “Oh god.”

The bandit signs, Phoenix rips them down unless you’re a politician. You can’t put out bandit signs. They get ripped down and they don’t work here. You’ve got to be proactive. It’s earning it. You can wait for it with referrals, you can buy it through marketing or you can be proactive and go out and get it in two ways like knocking on doors and picking up the phone. People know. Everybody knows in this room. It’s being proactive.

The problem with being proactive is a couple of things. One, it’s repetitious boredom. “I don’t want to call for three hours a day. I don’t want to talk to 40,000 people. I want to talk to four people. I don’t want to go through that. I don’t want to be doing these things.” “That sounds so boring. What am I going to tell my friends? I got to stay home to get on a phone call with people.”

We go through all these things. Not only that, but it’s being brave enough to press go the first time. You’ve got that 400-pound phone and you’re like, “I’m going to take out the trash. I got to fluff that pillow on the couch and then I’m going to make my calls. That’s it.” “I don’t want to do it in my room. I’m going to go to the kitchen. They got the high top. It’s going to be nice. I’m going to be making my calls.” “It’s raining. It is gloomy outside. People do not want to hear from me. I am going to do it another time.” “I’m not going to make calls. I don’t like getting calls.”

All of these things go through our heads all the time when we’re getting ready to make calls. We’re always thinking about the cause. We’re not thinking about the effect. We’re not thinking about the fact that there are 6% to 10% on our market in distress. Whether that be people behind on their payments, people tired of being landlords and their property’s beat up, maybe the property is in rough shape. Maybe they inherited it and they don’t have the money to fix it up. Maybe they want to get rid of it to buy something else.

We reach out to that 6% to 10% of our market and that’s where we find our opportunities because they will trade equity for speed and convenience. “That never happens.” It happens every single day because believe it or not, it doesn’t come down to the price with everybody. People want to get out of the stress. People can’t fix up a property. People don’t want to deal with the property.

I’ll give you an example. This is beautiful. I tell this story, but it’s the craziest. We called up a gal, Cowgirl Fran, an older gal, and asked her if she would consider an offer. She said yes. We set in the appointment. We go there. My acquisition manager at the time, Tasha, calls me and she goes, “Brent, I’m on this appointment here in South Phoenix on Desert Lane. It’s an acre lot. It’s a decent property. The gal wants $5,000 for the property.”

WIP 565 | Lesson From Robert Kiyosaki

Lesson From Robert Kiyosaki: The ultimate rapport is collaboration.


I googled it and it’s $220,000 on Zillow. I go, “I’m going to go right there.” I go over there and by the time I get there, Natasha comes out and she’s like, “She doesn’t want $5,000.” I go, “Yeah, I’m sure.” She said, “She wants $9,000.” I said, “Is she sane? Do we have somebody here that can talk to her or somebody that she knows and trusts?” I go in and I talk to her. Nice gal, all there, drives, does the whole thing, not a crazy person. These are signs that you look for if it’s somebody that has no idea what they’re doing. This is scammy. You don’t want to be scammy. That’s all you need.

I’m sitting there and I go, “Fran?” “It’s Cowgirl Fran.” “Cowgirl Fran, do you sell a lot of properties? Are you familiar with real estate?” She goes, “I’ve been a broker for 30 years.” I go, “What do you think you could sell this house for?” She said, “$200,000.” I said, “Fran, you want to sign a contract for $9,000. You want me to make $191,000 on this deal. Why don’t you just put it on the market?” “I just want you to make it a bunch of money. I was so thankful you called.” I’m serious. I made her take $100,000.

Those are the opportunities that come. It’s not all about the money all the time. It’s crazy. We run it into it every week. We’re closing a deal. We average $28,000 a deal in our business and we close it every single week. There are opportunities out there if you talk to enough people if you’re proactive enough. That’s lead generation. The next point is conversion. This is where sales come in. This is building a relationship. This is where the collaboration comes in. It’s not rapport-building. The ultimate rapport is collaboration. How do you know that you’re collaborating with the right person? That should be the first question.

This is filtering through all those leads and making sure that you pre-qualify them and see if you can help them out, if you should be the person that’s going to help this seller out of whatever situation they’re in. In that, we pre-qualify based on the condition, their timeline, their motivation and the price. That’s the four things we must know to be able to know that we’re going on a good qualified appointment and it’s somebody that we can work with.

You can make that choice right now. You can literally be self-employed right now.

We try to find out all of these things so that we can discover if we are wasting our time or if these people should be talking to a real estate agent or if these people should fix it up a little bit and sell it themselves or whatever it is. We need to find out the condition, timeline, motivation and price. You guys are going to be so fired up after this. You’re going to go home and you’re going to get some leads. You’re going to get in front of them.

If you get any opportunities, any leads right now that have a rough condition and their timeline is short but their price is high, go on that appointment. Seriously. I don’t care what they’re saying about the price. They’re going to have to be realistic. You can break down the numbers with them when you’re there or what it’ll cost to fix it up, that Zillow’s not the end all be all, that Zillow’s not going to write him a check for what they have on a Google search.

This is specific advice for us here if the condition is rougher or if it needs to be renovated. I’m not talking that they’re hoarders and roof rats have taken over. I’m not talking about the houses that have seventeen scorpion dens in them. I’m just talking about if it needs some love if it needs to be freshened up and their timeline is right now, go to that house. You’re going to get those opportunities. Locking up properties in good areas and good school districts, lock it up for whatever you can, people will buy it.

If you need help selling it, reach out to me because there’s not enough inventory. This is a beautiful time. Everybody’s like, “It’s too competitive.” No, it’s not. Just go after different properties. Go after the properties that need renovation, need some upgrading, not the ones that are totally destroyed, burnt down, or something. Go after them, but go after some of these other ones. Open up the people that you are going after. That’s the conversion.

You got to pre-qualify them and then you have to go on the appointment. You’ll have to build that relationship, that collaboration, so that they want to work with you. I don’t care if you want to flip it, wholesale it, you want to own it as a rental, whatever it is. You still have to get them to sign the paperwork. The only way they’re going to sign the paperwork is if they want to work with you. They trust you, like you and like what’s going on.

Negotiations come down to three things, price, terms and you. That’s it. Everybody’s like, “I’m going to kill them. I’m going to get them at the price and the terms.” They’re complete and they lose the deal, and then we come in and we’re sweethearts, we’re listening and we get the deal. Price, terms and you and shorten the timeline. Pre-qualify them and then go on that appointment and get the contract signed.

It comes down to exit strategy. What do you want to do? Do you want to own it forever? Do you want to live in it? Do you want to flip it? Do you want to wholesale it? There are so many. As we start out, we wholesale so that we can get the capital. We get the capital so we could get out of our job, pay off debts and start buying other property. At some point, you need to switch up the exit strategy. At some point, you need to be buying your deals.

It takes a while and you’ve got to get into that flow. It depends on what your strategy is. I buy all of my properties with cash in good school districts. I don’t leverage it at all. That’s my strategy. Pace Morby buys 1,000 properties a year without any of his own money. He’s out there going crazy but remember, every rental that you have is its own little business. Your employees are the tenants.

Make sure that you’ve set up to own a lot of properties and be able to manage that. That’s it. Thank you. For anybody interested in joining the most proactive group in real estate investing, it is the TTP family. Go to, check it out and scroll down. If it feels good in your gut, sign up for a call. It’ll either be with me or my right-hand guy. I look forward to that.

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About Brent Daniels

Brent Daniels is a multi-million dollar wholesaler in Phoenix, Arizona… and the creator of “Talk To People” — a simple, low cost, and incredibly effective telephone marketing program…

Also known as “TTP”… it helps wholesalers do more, bigger, and more profitable deals by replacing traditional paid advertising (postcards, yellow letters, bandit signs, and PPC) with being proactive and taking action every single day!

Brent has personally coached over 1,000 wholesalers enrolled in his “Cold Calling Mastery” training, and helped 10,000’s of others who listen to him host the Wholesaling Inc. podcast, watch his YouTube channel, and attend his live events…

A natural leader, Brent combines his passion for helping others with his high energy, “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!


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