4.8 • 2.1K Ratings
🗓️ 19 February 2023
⏱️ 10 minutes
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Are you comfortable with losing money in business?
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Ryan Pineda and Chandler Smith discuss their process including investors in their larger real estate deals. Ryan Pineda says that he's lost hundreds of thousands of dollars in some deals, but always pays back his investors. This contributes to his reputation as well as his character.
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0:00.0 | You know what's actually funny about that is you told me that a lot of times you have to tell people that you can make 15,000 in three months even though you can make a hundred because it's like people don't believe it. |
0:12.5 | Yeah, no, it's hilarious. I mean this year we had of our new reps that came and worked with me 26% that end up making over $50,000. |
0:22.5 | Right. |
0:23.5 | So then you've got that other top 5 to 10% depending on the year that can get up to the six figure mark. And if you share those numbers with someone that's never heard about this job before immediately they think it's a scam. |
0:36.5 | Yeah. |
0:37.5 | And so when we when we pitch it especially when you know we've got people that apply through YouTube or other stuff I have to be careful to just be like no like you can come and make 15,000 can they make way more of course. |
0:48.5 | But yeah, and I do the same thing with wholesaling because when I first heard of wholesaling I was like this is fake. |
0:55.5 | You know this is not something that's legit and I ended up you know doing it later on and I realized that this is legit because I had heard of guys making a hundred thousand and one deal without buying the house. |
1:10.5 | I was like no you cannot do that. |
1:13.5 | And so it's like now anytime I tell anyone about wholesaling I really have to like bring down expectations I'm like yeah you could make $5,000 in a deal without buying a house like you seriously can. |
1:25.5 | And they're like okay like I'm more into that. |
1:28.5 | But once again it's sales it's like you have to convince them that it's possible whereas there might be somebody who they hear that hundred thousand and it just makes them go crazy because they're like yeah. |
1:40.5 | Right like I believe it there's a different breed and we we push that because when you have people in your sales organization you've got to find their hot hot buttons you've got to find like I want to find my top 5 to 10% early on and I want to give them the right motivation I want to give them the right vision because those people that are capable of it a lot of times they just need to hear you say you know this is possible you've got the skill set you're putting in the work right. |
2:05.5 | And a lot of times we'll hit that later on in the process once they've started working for us yeah for sure. |
2:11.5 | So let's transition a little bit in a real estate man so how many units do you have at this point so I've got 114 units of buying whole drensled real estate I own that 100% other than the bank loans I've got on it nice. |
2:24.5 | And then I have a 73 units storage complex and actually on 50% that's only partnership I've ever done with my best bud Garrett Myers so also bought that one together and that's been a fun project this last year. |
2:37.5 | I love it that's you know the same way I've been building my portfolio just you know owning a 100% but my question to you is I mean you know you've been able to build what you've been able to build thus far. |
2:50.5 | Why not do bigger deals you know and partner up or syndications and stuff like that yeah I love chasing a deal that's one thing I'll never get away of sale get away from sales or negotiation or like that's my passion I feel like I'm good at it and I enjoy doing it and so. |
3:08.5 | Originally that I think I would go into 100 200 unit deals probably not but now I think it is on my radar and I'd like to transition. |
3:17.5 | The only hesitation I've had is I have seen some people that have not been smart and they borrow other people's money and they end up in trouble right and so if I ever make that jump I just want to be really careful because I never want to do anything that is at all risky when it comes to |
3:35.5 | hurting someone else or you know risking my freedom because I don't know what I'm doing right and so that's that's only hold up but do I think eventually I'll get there yeah I do I know this year I've got big goals for buying a lot of units I'm and I think I could see myself doing more and more partnerships because that |
3:54.5 | I did with Garrett has been a blast so I think I'll get there I think I might just scale a little slower than someone like you mine so yeah you know for me it's something that has been on my radar right I mean that's how all these big apartment deals are bought nobody's really |
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