Building Stamina in Real Estate Through Mentorship | Nick Perry

Speaker 1 10 years from today, Lisa Schneider will trade in her office job to become the leader of a pack of dogs.

Speaker 2 As the owner of her own dog rescue, that is.

Speaker 4 A second act made possible by the reskilling courses Lisa's taking now with AARP to help make sure her income lives as long as she does and she can finally run with the big dogs and the small dogs who just think they're big dogs.

Speaker 8 That's why the younger you are, the more you need AARP.

Speaker 5 Learn more at aarp.org/slash skills.

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Speaker 10 Tis the season of gifting and holes to deck. And the Who's and Who Louville were in love with new tech.
Where can we find Sonos and Samsung and Nintendo? They shouted. Would they find it in one place?

Speaker 10 This they questioned and doubted. When suddenly a who yelled, Walmart's the place to start.
And Dee Chew added headphones, TVs, and games to their carts.

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Speaker 11 Bottom line is you'll do whatever it takes. Most people, they will start and then they'll be like, Yeah, I ran out of funds or I can't figure this out.
And they just give up.

Speaker 11 You know, what is the failure rate in this business? Because you've probably... Oh.
98%.

Speaker 11 so you got to be that two percent that is resourceful doesn't quit and is willing to do whatever it takes work long hours in the beginning and you know make it happen you've got nobody's going to do this work for you what up science flipping family we are coming live outdoors very unique here in scottsdale arizona with my boy nick perry we are back with another episode bro dude it's been a decade this is where we started scottsdale arizona so to think that now you're you're in my house.

Speaker 11 That's right. Scottsdale, Arizona.
Yo, full circle moment. Dude, awesome to have it.
Yeah, dude. And literally your house.
So as we're sitting here right now, he just moved in this beautiful house.

Speaker 11 We're on his tennis court, basketball court. He's got the pool.
He's got the bars. He's got the wine, liquor.
He's got everything. I'm excited for you.
I couldn't be prouder of you, bro.

Speaker 11 It's been an incredible 10 years. Yeah, man.
Yo, we started a decade ago, and

Speaker 11 it wasn't an easy start. It wasn't an overnight success.
You see the finished product now. Sure.

Speaker 11 But the decade, a lot didn't happen. I'm just getting warmed up.
That's it. I'm just getting warmed up.
So I'm grateful. I'm proud, but never satisfied.

Speaker 11 You know, it's been a decade, and I think I worked with you. I coached you eight years ago, give or take.
And I take such a little amount of credit for what you've been able to do, man.

Speaker 11 You took the whatever wisdom and knowledge and the little nuggets I was able to give you eight plus years ago and built a damn empire.

Speaker 11 And now not only that, you're taking a leadership role in the industry of real estate investing.

Speaker 11 You are now mentoring and coaching other high-level performers, people who are looking to actively do deals, whether it's wholesale, fix, or flip, or buy and hold, but you're really taking a leadership role in the community, dude.

Speaker 11 And I couldn't be prouder for you. Well, you know, mentorship is the secret hack to getting from point A to point B.
There's not a lot of hacks in business.

Speaker 11 There's not a lot of shortcuts because I've tried. There's not shortcuts.
There's no secret pill. There's no secret software.
But I'll tell you one thing.

Speaker 11 A wise man will learn from his mistakes, but a brilliant man will learn from another man. That's right.

Speaker 11 So, you know, I'm just a byproduct of having great people in my life, such as you, another great mentor, Sean Terry, guys like that, to come in, put their arm around me and, you know, help me to avoid costly mistakes.

Speaker 11 And, you know, here we are now. Great.
So I had to go make those mistakes, right? You made them first. So I appreciate it.
And trust me, I made plenty, 18 years in this game.

Speaker 11 I made plenty of mistakes. And,

Speaker 11 you know, that's part of the game, though.

Speaker 11 I think people need to realize like Justin Colby or Nick Perry doesn't just walk around shitting gold and every real estate transaction doesn't just print money. There's mistakes to be made.

Speaker 11 And that's something that people need to be aware of is maybe there's a level that you can get to, but those getting to that level goes through the peaks and the valleys to be able to get to that level.

Speaker 11 Absolutely. And the problems never stop no matter where you're at.
You know, if you're poor right now, you're scraping by, you got money problems, or you're super rich, you still have problems.

Speaker 11 And the problems don't go away. You just, you just get better.
Yeah. Yeah.
So let's talk about your kind of community because I think it's really impactful.

Speaker 11 And frankly, when I started getting into PPC four years ago, I came to you and joined your group. And the reason being is you actually teach people how to do their own Google in being PPC, correct?

Speaker 11 Correct. And that's really different because...

Speaker 11 Not only just showing them how to go find a deal, negotiate a deal and comp properties, but you're teaching them how to find the lead. And the lead is absolutely everything in the business.

Speaker 11 You have no leads, you have no deals, right? And you're showing them how to do it so they don't have to go pay an agency 10 10 grand a month to run the ads for them.

Speaker 11 They can actually just do it themselves. That's the place where 80%

Speaker 11 of investors fail is on marketing. There's three mountains that you're going to climb in this business.

Speaker 11 And marketing is the first one, learning how to do acquisitions and contract properties and then dispositions. Those are the three mountains.

Speaker 11 And marketing is the largest mountain that you're going to climb. And most people can never

Speaker 11 generate consistent, reliable, high-quality lead flow

Speaker 11 for a sustained period of time. They just struggle with it.
And so that was one thing that I was able to do early in my career.

Speaker 11 And that is why I've been able to, you know, do very well is I've just really dialed in and focused on that aspect of becoming the best at it.

Speaker 11 The thing that I want to make clear to this audience, right? Because you're going to hear it on Apple. You're going to watch on YouTube.
It's going to be all over our Instagram pages.

Speaker 11 Google PPC is not for everyone. If you have financial restraints, would you suggest for someone to go into it? Like, you really can't get very far if you have a $1,000 marketing budget.

Speaker 11 No, if you don't have $3,000 to $5,000 a month to put towards marketing, I would not advise you go into PPC. Yeah, that's about right.
And then even then, what kind of runway do you need to see?

Speaker 11 Right. So I just, for me, I took a market that I did really well in this year, Birmingham, Alabama.
I had the opportunity to do TV ads there. So I took it.

Speaker 11 And so now I'm on TV everywhere, Justin Buys, Bama, right?

Speaker 11 But even the guy who runs that says, you got to give this, you cannot give this less than six months. So there's 10 grand a month every single month churning whether I do a deal or not.

Speaker 11 What would you say in terms of Google or at least PPC? If you're running your own marketing, what kind of real runway do you want to be able to give yourself?

Speaker 11 So let's just say the audience is, all right, I got

Speaker 1 10 years from today, Lisa Schneider will trade in her office job to become the leader of a pack of dogs.

Speaker 2 As the owner of her own dog rescue, that is.

Speaker 5 A second act made possible by the reskilling courses Lisa's taking now with AARP to help make sure her income lives as long as she does.

Speaker 4 And she can finally run with the big dogs and the small dogs, who just think they're big dogs.

Speaker 8 That's why the younger you are, the more you need AARP.

Speaker 5 Learn more at aarp.org slash skills.

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Speaker 9 It's as simple as picking your stocks and ETFs, sort of like your meats and other topics, and managing it as one big juicy investment.

Speaker 9 Now that's pretty good. Learn more at fidelity.com slash baskets.
Investing involves risks, including risk of loss. Fidelity Brokerage Services LLC, member NYSCSIPC.

Speaker 10 Tis the season of gifting and holes to deck. And the Who's and Who Newville were in love with new tech.
Where can we find Sonos and Samsung and Nintendo? They shouted. Would they find it in one place?

Speaker 10 This they questioned and doubted. When suddenly a who yelled, Walmart's the place to start.
And these who added headphones, TVs, and games to their carts.

Speaker 10 With Walmart, their shopping was done in a flurry. They cried out, who knew? and ordered their gifts in a hurry.
Shop the latest tech gifts in the Walmart app.

Speaker 11 Three or five grand a month, Nick. But how long do I have to go to give myself some runway?

Speaker 11 Well, the great thing about Google pay-per-click is there's no higher quality lead than somebody searching you out on Google and going to your website and asking for you to reach out to them.

Speaker 11 So your conversion rate is really good as opposed to cold calling, direct mail, TV.

Speaker 11 One out of every 20 leads on average is going to be a contract. If you're really good at sales, maybe one out of 10.
Yeah.

Speaker 11 So it doesn't take you a lot of leads to get a contract. Here's where people mess up in this business.
Just because you have a contract doesn't mean you have money in the bank.

Speaker 11 The sales cycle for our industry is about 60 to 75 days.

Speaker 11 So from the time you put a dollar in your business to the time you've got a deposit in your bank account can be 60 to 90 days.

Speaker 11 So you have to think about that and be able to financially forecast out at least three months.

Speaker 11 of advertising budget to see a return on your ad spend. And that's where I think there's there's a break in education.

Speaker 11 That's why I love what you're doing and taking a leadership role in this, because specifically in PPC, it's a very popular subject.

Speaker 11 You know, you were one of the leaders along with Sean Terry to kind of do this national wholesaling thing.

Speaker 11 But people, I think, underestimate really the not cost, but the length of investment you have to be able to endure and have to actually reap the reward. Right.
So I've been around 18 years.

Speaker 11 I've literally done every single marketing strategy I think there is out there.

Speaker 11 Everyone that is paid, no one talks enough about this,

Speaker 11 you know, stamina through the winter, meaning you're cutting checks, you're running your credit card every month, the money's not coming back in yet.

Speaker 11 And you still got to at least pay those monthly minimums. But that's the reality.

Speaker 11 But if you can do that and you have a good coach like you that can say, hey, listen, if you do this the right way and you use these credit cards and you do this thing and you pay the monthly minimum,

Speaker 11 day 90, day 120, as long as you're good at negotiating and selling and you can convert, it's going to start coming back to you because no one talks about the longevity or not the longevity but the runway that you're going to need to be able to you know have you want to know what i did when i first started because it took me 11 months to get my first deal

Speaker 11 so what i'm going to tell you is going to be very unpopular i got a fucking job

Speaker 11 so right so everybody's like yo how can i do this with no money no credit like can you go out and bootstrap this yes but you want to know the easier and faster way to do it have a job or some way that can generate income that can be your safety net while you're getting started.

Speaker 11 So while I was, you know,

Speaker 11 working every night and on the weekends, I was also doing real estate.

Speaker 11 So if you want this dream bad enough, you will work for it. The first three years of starting any business, there's not going to be many vacations, days off.
You're going to work your ass off.

Speaker 11 And that's what I did for the first three years. I worked my 40-hour week job and then I'd come home and I'd work until midnight every night and then Saturday and Sunday Sunday all day, every day.

Speaker 11 I tell people all the time, if you're an aspiring entrepreneur, the best thing America is giving to you is Uber. That's right.
Go be an Uber driver. Go be an Uber driver.

Speaker 11 Go make your $100 to $200 a day in the timeframe. Like, listen, you and I travel a lot.
We speak on stages or whatever. I talk to my Ubers guys all the time.
I only take black SUVs.

Speaker 11 Yes, I'm bougieing. It's expensive.
But dude, these guys are making a quarter. The good ones are making like a quarter million dollars a year.

Speaker 11 They time it where they're running the airport runs in the morning for people like you and me. They time it at night so they have the whole night scene.

Speaker 11 Like they just know how to move their, and then they have the whole middle of the day. And I ask them, I'm like, what do you do all day? They're like, whatever I want.
Go to the gym. I take a nap.

Speaker 11 Me and my wife go and play, you know, whatever. I'm like, dad, this is brilliant.
You're making a quarter million dollars a year on your own schedule.

Speaker 11 The best thing an entrepreneur has that America is giving them right now is Uber. For that reason,

Speaker 11 you can, and then you can do what we do all day, every day. Literally stop driving Uber at 10 a.m.
You have 10 a.m. to 6 p.m.
That's eight hours. Bottom line is you'll do whatever it takes.

Speaker 11 Most people, they will start and then they'll be like, yeah, I ran out of funds or I can't figure this out. And they just give up.

Speaker 11 What is the failure rate in this business? Because you've probably... Oh, 98%.

Speaker 11 So you got to be that 2%

Speaker 11 that.

Speaker 11 is resourceful, doesn't quit, and is willing to do whatever it takes, work long hours in the beginning, and

Speaker 11 make it happen. You've got nobody's nobody's going to do this work for you now

Speaker 11 specifically if they want to know more about google pay-per-click you run cartel right which is your coaching group mastermind where can they go find that research that and kind of get to know what you're actually providing a little bit better just Follow me on Instagram, reach out if you've got questions.

Speaker 11 I'll put you in contact with my team so you can talk shop with them. But super easy.
You can find me. I'm on all the social platforms.

Speaker 11 Just Google like Nick Perry, REI, and you'll find me on the internet. Yeah, make sure you go see that.

Speaker 11 If you're an aspiring investor, if you're actively doing deals, and especially if you're actively doing deals, if you've never done a deal, wouldn't you say probably not the right fit, right?

Speaker 11 You need to have some people doing some level of deal, some marketing budget, something.

Speaker 11 So I call the cartel is like getting your PhD in wholesaling. Okay.
So go and, you know. learn.
There's a lot of free education and good education online that you can take advantage of right now.

Speaker 11 There's a lot of entry-level groups that you can go become a part of. Start getting your first couple of deals.

Speaker 11 And then when you're ready to jump up and really start scaling your business, reach out to me and we'll take you to where you want to go. So I run a group called REILive.co.
REILive.co.

Speaker 11 It is for newer people who are struggling to get their first deal. They're trying to do the work.
They don't know how to comp.

Speaker 11 So we're like this last week, we contracted eight properties this last week. We've done 12 over the last 10 days.
And it's because me and my team are helping them get the deal across the finish line.

Speaker 11 Those aren't the right people yet. No, but

Speaker 11 shameless plug. So when I first started my career, I was broke, busted, disgusted, didn't know what I was doing, had never run a business before in my life.
And Justin was my first mentor.

Speaker 11 Justin was the guy that ended up sitting down with me, helping me learn all the fundamentals of real estate, not only just real estate, but how to build a business, how to turn this in from, you know, just being a hustler to being an actual business owner.

Speaker 11 And that beginning was what catapulted me and set the foundation for the rest of my career.

Speaker 11 So yeah, if you guys are looking for a good quality coach who practiced what he preaches, then you guys just do what I did is might be my recommendation. Well, I appreciate that, brother.

Speaker 11 It's reilive.co. But in reverse, if you're actively in doing deals and spending money, I'm going to push you Nick's way.
You go find Nick. You understand PPC.
You do it yourself. You run those ads.

Speaker 11 You get your PhD. And Nick Perry, look him up all over social media, is going to be the guy in his cartel group.
And so, brother, I'm happy we can run this decade run together.

Speaker 11 I look forward to another three or four decades with you, my friend. Absolutely.
But let's every year or so at least get one of these out on the podcast stream and let's run it up.

Speaker 11 Yeah, let's run it up. Appreciate it, man.

Speaker 11 Let's go.

Speaker 1 10 years from today, Lisa Schneider will trade in her office job to become the leader of a pack of dogs.

Speaker 2 As the owner of her own dog rescue, that is.

Speaker 5 A second act made possible by the reskilling courses Lisa's taking now with AARP to help make sure her income lives as long as she does.

Speaker 4 And she can finally run with the big dogs and the small dogs who just think they're big dogs.

Speaker 8 That's why the younger you are, the more you need AARP.

Speaker 5 Learn more at AARP.org slash skills.

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Speaker 9 Huh, that sounds easier than I thought.

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Speaker 9 Investing involves risk, including risk of loss. Fidelity Brokerage Services LLC member NYSE SIPC.

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