Today’s REI Classroom Lesson
Today, Franklin Cruz applies the benefits of crossfit to successful real estate investing.
REI Classroom Summary
Looking at you structure, time, community, and progress are all parts of real estate investing that you need to have perfected.
Listen to this REI Classroom Lesson
Real Estate Investing Classroom Show Transcripts:
Mike: Welcome back to the FlipNerd.com REI Classroom where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Franklin: Hey, guys. How are you doing? This is Franklin Cruz. Right now I’m about to do an REI Classroom right now – CrossFit versus real estate investor, who is going to win? So if you’re a CrossFitter, you’re probably going to love this. If you’re not a CrossFitter, I don’t know what you’re doing, because CrossFit’s amazing.
So, anyway, if you don’t know who I am, you could click around here and find my bio. But real short, I have a military background, spent seven years active duty in the United States Army, served in Operation Iraqi Freedom, and then I started doing real estate part-time while I was the general’s aide at Central Command. So now, 15 years I’ve been doing real estate investing. So, one thing I want to describe to you is this, we’re going to be learning, what can you learn from CrossFit to make you a better real estate investor.
Mike: This REI Classroom real estate lesson is sponsored by UglyOpportunities.com.
Franklin: So you can accomplish more of this, money. So let’s think about this right now. Cool thing about CrossFit, if you’ve never done CrossFit, again, you could Google it, you could research it, there’s probably free classes that you could take and you could see something.
One thing I really like about CrossFit is this, one thing, it’s structured. It’s extremely structured. So what I mean by that is every class has a time domain. There is a certain amount of time that it takes to complete these classes. So it has time, it has structure.
The other thing, what I really like about these CrossFit, and everything else is it’s all about community, which that is also amazing. Another thing about CrossFit which I really like a lot, and you guys could take away from it, it tracks your progress. So tracking your progress.
Let me talk about a couple of things, one is structure. So how can you be a real estate investor if you are a CrossFitter? What can you use from CrossFitting and then be a real estate investor? Number one is this, when it comes down to CrossFit, what you could take away from it to be a better real estate investor is, one, is structure.
If you take anything out of this, at all, is CrossFit’s very structured. Are you structured with your own business? Do you know what time and day that you’re actually calling back buyers, or calling back sellers, or what specifically that you’re actually going to be doing to make that happen? What time are you calling back the sellers? What time are you doing lead intake forms? What time are you sending out contracts? There’s got to be a structure behind it with a time domain, meaning, “At 9:00 a.m., I’m doing this. At 10:00 a.m., I’m doing this,” and actually have fun with it.
Like right now, I’m actually doing this presentation because I have a time limit. So, with this time limit, you could do the same thing when you’re doing, calling buyers. Look, this is an app. This is called Timer’s Pro app. So you can download it, and it’s extremely expensive – it’s $0.99. Anyway, it’s called Timer’s Pro, and anybody could download it.
So you could start factoring in, “Hey, in 99 minutes, I accomplished X.” Be proud of yourself. That’s one thing I found that’s missing in our community as real estate investors, at all. When it comes to million-dollar status, to billion-dollar status, so the guys just making six figures, or the guy making an extra $10,000 on a deal for the for the first time in their life, is just being grateful and just having fun with it, winning.
If you actually, “Hey, I got five lead intake forms,” that’s awesome. That is huge. That’s a huge breakthrough, because every single time when you get a lead intake form and you talk to another seller, the name of the game in real estate . . . this is how you make all your money, and this is what you can get out of it, is putting as much in your funnel as possible, because at the end of the funnel is what you’re looking for, which is long-term wealth, and that’s what it’s all about.
Time domain, that’s what we just talked about. Start having a structure that you can start tracking your time. Have fun with it. See exactly what you’re accomplishing because your money . . . you’re actually worth a lot per minute. To be a multimillionaire . . . I factored this in. To make a million in one year, first of all, to truly make a million in one year, if you have to make $1.45. So if you have actually ever done it before, you know the true number is $1.45.
So what I mean by that is, because there’s this thing called the IRS that everybody loves, you actually have to make $1,450,000, to truly clear a million. Why? Because you’re taxed at a 45% tax ratio. Ask me how I know that.
Anyway, so this is what you do. When it comes down to it, that dollar amount, if you’re working six days a week, 10 hours a day, and you have a team, that team has to produce $5.83 a minute. Every minute, in six days a week, 10 hours a day, you have to produce, your company, $5.83 every minute, to produce that million dollar mark that you’re looking for. So you have to factor that in.
How do you think I know that? Because of this right here, and now we’re 4 minutes and 16 seconds in. It’s because you have to factor in and play with it, play with your time a little bit. If you don’t, at all, you’re never going to know. So it’s just like anything else. How do you know if somebody’s winning in a baseball game? I’ll wait, don’t worry about it. You know how you know? Is they have a scoreboard, and you have to check the scoreboard. So if you don’t know the score, how do you know you’re winning?
Another thing is community. We’re all about community. At the end of the day, if you liked this video, if you liked the education that you got, if you got something out of it, at all, hopefully there’s a like button, there’s something that you could say, “Man, oh, my God! Franklin Cruz, his skin, and his color is so beautiful. I love it. Great!” You could say that, or my hair which is actually real.
So, what you could do is you have fun with it. Comment. Show gratitude for the educators that are on here, and everything else. It’s about the community, and it’s about making people better. Hopefully you got something great out of this. If you did, find me on social media. I would love to see you guys, and you could comment, you could say whatever you want. So hopefully you got something out of this “CrossFit versus real estate investing: how can you make a profit doing it?” Talk to you guys soon. Bye.
Mike: Home investors, the “We Buy Ugly Houses”, folks is franchise system of hundreds of real estate investors that have purchased over 65,000 houses. If you’d like to learn more about the most powerful real estate investing system in existence, whether you’re a pro looking to take your business to the next level, or whether you have no experience at all, but a burning passion to be successful in real estate investing, please visit FlipNerd.com/ugly to learn more.
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