On today's episode of Gathering The Kings. If you're any good at this business, you're gonna make more than you're making at your job right now. Right. If you're if you're not able to break a basic income 80 to a 100000 a year, you're probably not gonna wanna stay self employed or in this business for long anyway. So work with somebody else, go get your teeth cut, learn some, some strategies, and then make some money and buy into education.
You are listening to Gathering the Kings with Chaz Wolfe Gathering fellow 78 and even 9 figure business owners who have real battle scars from business and life, but have prevailed as the king that they are designed to be. We welcome high performing entrepreneurs to the stage in order to reveal the real successful business today. We dissect the good and bad decisions they've made along the way Chaz give a true and accurate picture of the journey of success and how you too can get there.
Through this dialogue, you will learn the value of growing your network and surrounding yourself with power players and The like today's guest. Grab your pen and notebook because we're about to dive in. Well, what's up everybody? Chaz Wolf Gathering Gathering Kings Wolfe prosper on the Kings stage today. My brother, how you doing? I'm fantastic, man. Good morning, Chad. Thanks for having a 100%. You know, it's it was funny. I gotta tell the listener that we're off air.
I kinda do this a little bit with each show, but we're just chatting. We're getting to know each other. We're talking dogs. We're talking business. We're talking family. All fun stuff. And I'm like, Wolfe, well, what we we gotta we gotta pause here. I gotta hit the record button. If we could actually hit like, oh, man, we're we were getting some good stuff. This is gonna be a great conversation. I'm excited for you to listen. Wolfe tell us what kind of business that you have.
Alright. So I am in the real estate industry, and we do marketing to off market properties. And, basically, what that means is that we work with people typically who are in some kind of distress, whether it's divorce or bankruptcy or probate, pre foreclosures, There's some sort of condition issue with the property Chaz causing it to be dilapidated. They're getting code violations. Maybe they're plumbing has stopped working.
Whatever the situation is, those are the people that we seek out, and we help them solve these problems. And typically what that ends up meaning, Chaz that usually we purchase The property from them, we get them a check-in their hand, and we help them move on to a better position. Yeah. Love it. I love how, you know, you can do this with any industry. You can do it with any company as far as, like, how how our service helps them get into a better position.
The way that you just said that is incredible because you're right. There is there is always gonna be these opportunities where people just they can't figure it out. They're in this problem. Any given scenario that you just mentioned. And, and it's you, your team, putting your neck on the line, constantly looking for solutions for these people, and that's what we do as entrepreneurs. Excited for this. Before we get into your story though, I wanna know. Why do you still push now?
I mean, obviously, you've had a a certain level of success. So why we've invited you here But, like, what's the bigger picture for you? What's the bigger play? What's The long term plan? Yeah. What? Like, why are you doing this? Like, you you could probably maybe say a lot and, you know, go to another country like we Kings just talked about. Yeah. But you don't. You can see the push. Why? Yeah. I think you get addicted to it. Number 1, you get addicted actually helping people.
I've done many different businesses in the past. Most of them have all been Kings centered on income and instead of centered on doing something for the community or doing something for other people. So that's something I really enjoy. Also, this industry has a big community. It's a small community, even though there's a high volume of people, like, we all end up knowing each other if we're really doing work, you know, Sure. And I love the community.
I've always been a community based person, you know, whether it be, like, boy scouts to play football, to play at other sports, to ride in Harley's, bernie, man, couch surfing, Airbnb, all of these different things Chaz communities, and I love the community level of this business. And then again, it's like like playing monopoly. Right? We're collecting doors. We're seeing how many houses we can turn into hotels. We're seeing how many blocks we could take over.
It becomes kind of a challenge that you never really get tired of concrete. And because industry is so diverse and so layered, There's an endless amount of information out there. You can never ever learn it all. Even within our niche, never really learned at all. And so it's a never ending education as well.
And then at some point, like yourself, you get to the point where you're able to help others now that adds, like, even another layer, yet another layer where you're helping other people grow. That's usually benefiting you because they're bringing you deals. But you also get to see other people grow, be successful, feed their families on that kind of stuff. Now what's the ultimate long term goal for me? Like we talked about earlier, you know, I don't have family. I don't have a kid.
So for me, it's actually getting set here and then moving out of the country. I'm already working on a resort in the Philippines. My best friend, we've been building it for 2 years. It's ecological resort. So it's literally out in the woods. It's in the jungle. We captured a bunch of river water, diverted it, turned it into a pool. We've got a big are that we're setting up there. People will come in and they can literally just enjoy nature for a while. There's no amplified sound.
Absolutely no garbage, like a we're Burning Man people. So leave no trace is a big thing for us. Yeah. And, ultimately, I wanna live out The, and I wanna continue to travel the Wolfe. I've traveled to 20 countries so far, and I want to actually start to do real estate in other countries. So right now, I'm looking at a property in Puerto Rico, which is a hotel that we're going to remodel and turn into something Kings of more fun and hip. It's got a restaurant downstairs, twenty two rooms.
We're gonna put a, a rooftop bar on there with a pool. So just continuing to learn new things and expand Yeah. Try to basically run parallel my business and my life goals, which my life goals are to explore the countries, learn more about cultures and history, people and languages and food and keep doing real estate. I love it. Yeah. Everything that you just said sounds amazing. And and I I hope to to travel like that even myself, but I think you're spot on, man.
You can tell that you're passionate about it, but you can also tell that the the real estate fuels of those possibilities. I just had a guest on my show, I don't know, maybe 2, 3, 4 weeks ago, that's in Puerto Rico that has, a ton of short term rentals, and they do this kind of boutique hotel, like revamp Gathering. So I'm gonna definitely connect you with him for for that upcoming project that you've got. But Yeah. Please.
That'd be awesome because we're looking for investors on project right now. We're raging 350,000 for the remodel of this hotel. Yeah. Yeah. Well, there'll there'll be some there'll be some good connections there for sure. So Okay. So let's let's go back to you getting started in real estate, or maybe it was your entrepreneur journey started before that. Can you tell us Kings, like, maybe why you became an entrepreneur? Like, how how did you come here?
You know, I think my first job ever was digging a hole in the rain. I have that exact same cup. I love that cup, bro. Yeah. There you go. Right? Nice. So for, like, this one armed overweight guy running a backhoe, and I just hated it And I worked with that guy for months, and it was just grueling backbreaking work. And The, ultimately, I went to college For computer science, I'd I finished Chaz, and then I went into construction. I went into flooring. And I liked what I was doing.
I liked the construction side of things. I liked finishing the project. Sure. But I didn't like how my boss was always lying, and he would always say all this weird stuff to us, and he would manipulate us all the time. And I wanting more control. So within a year of doing that, I started working for myself. And, really, what they do was they gave me my time back, and it allowed me to make a little bit more money. Right? You know how business is. It costs you more money to do business.
So you feel like you're making more on the Chaz, but I'm usually not. But this could be my time back, which I did have much time Chaz and it just Kings became an obsession. So I didn't plan on it's like I didn't choose entrepreneur arrive life. It chose me. And I just wanted more freedom. I like to travel probably 3 months a year. So usually every quarter I take a month off. I go to a different country.
I'll continue to work from that country, but I just like being out into a different culture, different experiences. Yeah. So I need I gotta be self employed to have that freedom. I really have to. Yeah. You before you used the word freedom, I was in my brain going, you're you're freedom driven. I mean, I think a lot of entrepreneurs are. Right? Like, I don't wanna work for somebody else. I don't wanna be held down or whatever the whatever the phraseology that we use inside of this word, Freedom.
But for you, it's literal. Like, don't put me in a box. Don't put me in a cube. Wanna be able to travel. I wanna be able to, you know, not necessarily, you know, make all the money in the world, but I just want I want freedom. I want freedom of choice, freedom of travel, which I think we can all relate to. To a degree. Yeah. Right. That's part of it. Part of it is the freedom. I am freedom driven. I could go work for someone.
But what's happened is I've gone to these bigger people, and they're like, oh, man. You're too entrepreneur. I lived in in the Bay Area for 5 years. By the time I lived there, I had to run multiple businesses. All I had done was run businesses, construction business, a catering business, a housekeeping business. I had a software sales business, And so when I Wolfe moved to the The Area and I was interviewing, they were all of them said the same thing. You're too entrepreneurial.
And I'm like, what does that mean? Like, Yeah. It's true. I don't want to start another business. I'm happy to give my skills to you in your already established business. Right. What they were worried about is you're only gonna be here for a little Wolfe, and then you're gonna be gone. And then, yeah, you won't be satisfied. We've all had to happen in all of our businesses, and it's a tough decision to make.
Yep. But I think they made a mistake because if I found a good home, that's still I wouldn't necessarily need that much travel time, but I also work if I travel. Right? So I don't know. Yeah. No. You're right. The is this is intrapreneur concept that's maybe a little bit more popular now, because you're right. I've I've If I had looked at me on paper, no no chance. You know? But you're right. There this this on this entrepreneur, you know, profile, it does does exist.
And I think as entrepreneurs, we we we need those those people who are saying, hey. Like, I could go do it on my own, but I'd I'd rather do it inside of the structure that you've already built. Because that that makes for a dynamic duo oftentimes. Their business has lasted over 5 years. They're probably doing it right. Right. And so you're just gonna skip all The growing pains. It is what it is. Here we are now. You know, our business is doing good.
We're doing just fine, and I I'm still partner with people on a regular basis. Kings feels like I'm joining other businesses. We're doing joint ventures. Sure. We're doing syndications, things like that. So it still happens. It just happens in a different format. Love it. Okay. Let's go to a good choice that you made along the way.
Ideally, maybe earlier on Chaz your building structure and, you know, kind of like the the the nitty gritty part of the business, tell me a good decision that you made that you can look back on now and be like, yep. Glad I did that. I'll do it again. Paying for education and investing in my own my own understanding of the business. Love it. Definitely the best choice. Yeah. I paid for a mentorship specifically taught about subject to, but it taught about all kinds of things on top of that.
Sure. And not only did that introduce me to a lot of education and different techniques that I did stand yet, but it also introduced me to a great community of people who I was able to build relationships with. And now when I hang out with my friends, The friends are almost all in the industry. They're either in singles or they're in real estate or they're in both. Right. So what do we do? Yesterday, I was hanging out with buddy Greg Tuck.
He runs a very successful VA business, fantastic VA business. I think it's called Hourglass, and then he also does really good with off market properties. Right? And this is a friend of mine. We hang out, and what do we do? We talk about business. We we talk about, you know, what's working in your business, what's not working in your business. So going back to investing in myself, I inadvertently also bought into a community of doers of people who are out there taking massive action.
And one thing that I would say to people who are watching this is I would say that when you invest in The, you're still gonna be let down. You're still gonna have bad experiences. Like, people will take advantage of you. They'll steal your deal, whatever. They'll go behind your back, but that's malicious. Most likely what will happen is people will be busy with their own lives. They have their own stuff going on. They don't follow-up with you.
Feel a certain Kings of way about it, but in reality, it's not malicious at all. It's just a fact that they're just as busy as you are running their business and trying to make it happen. And that if you're not the spooky wheel, you're not gonna get the grease. Yeah. So true. I think that it well, I think I think The listener probably has 2 Kings. Want The and and probably separate. Maybe they have both, actually, is that they either have yet to invest in themselves in this way.
And so Maybe they know they need to or maybe this is the first time that they've heard this, but they they had this notion of, okay. Investing in myself, what does that look like? Makes me a little nervous to spend 2 or 5 or 10 or $40,000 on myself. Because, really, what is that gonna get me? Right? Then he had the other person like you just said that maybe has done those Kings.
But, you know, maybe didn't quite get it, what they wanted from it, or maybe they didn't put effort into the pro you know, what all these what ifs. Right? Mhmm. So what would you say to either one of those people right now who'd maybe listening to you say, okay. That was your good decision, but, like, help me get there. Like, how do I get there right now? I'm a little nervous. Or I've I've been burned. Easy. Well, just number 1 is go out and find somebody to partner with who's already doing it.
So we I regularly bring on people who I mentor. I mentor 5 people at a time. Those people I teach them how to do The lead gen, underwrite properties, evaluate properties, so on and so forth. In in exchange, they bring me deals. We split the profit 50.50. Once they are kind of set up in they're on their way and they're ready to go do things on their own. If they choose that path, I I welcomed them to do so, and then they can always come back and get help if they want it again.
Some of them have chosen just to consistently work with us, and that's all they wanna do because they're just adding, you know, money to their income every year. By working with us and other people have gone on their own. So my my word to those people is partner with someone who's already done it Learn some of the basics. Right?
You're gonna make less money, but, oh, well, you're probably still get if you're any good at this business, you're gonna make more than you're making at your job right now. Right. If you're if you're not able to break a basic income, 80 to a 100,000 a year, you're probably not gonna wanna stay self employed or in this business for long anyway. So work with somebody else, go get your teeth cut, learn some some strategies, and then make some money and buy into education. Right?
Now I kind of, at this point, completely stay away from anything that's like $50,000. I've just found that the people who run that level, usually, if they if they're any good, they won't work with The newbie. Right? Because newbies are ready for them. Right. $50,000. That's somebody who's a veteran in the game and doing it for a couple of years is successful.
They should be hiring $50,000 coaches because now you're focused more on daily activities and how you run your business, not getting started. With getting started, you can spend between 5 to $10,000, I know the program that I got into was 8000. Now I think it's 12, and it was a 100% worth it. So you get that money from working with someone else. You put it into yourself. You learn more skills. You keep working at some point. If you really feel the need to go out on your own, go do it.
But really in the long run, man, make yourself so valuable that nobody wants to get rid of you, and you'll never have to worry about making money. I love that phrase. We're gonna have to quote you on that one. I've I've used that many times. Even even in my own teams, like, you know, Chaz, what can I do to grow? Look for ways inside of this business to make yourself so valuable that I can't get rid of you. Absolutely. The I would never want to get rid of you. And that's not always income.
That's not always a dollar amount or a number of sales. It could be strategy. It could be you constantly learning different ways to to bring more attention to the business. There's so many ways that you can make yourself valuable, and I think that too many of us focus on income alone. Right. Yep. Exactly. Okay. So I love I love the the vein that we're in, but I wanna switch I wanna flip the coin over to a bad choice. Give us something that give us a scenario. What happened?
Or you just kinda, you know, face palm and and maybe almost lost at all. I don't know. Like, tell us what happened. Always happened multiple times. So if you are if you have not been self employed and you're planning on it, expect that you're gonna lose everything a couple of times. This is just normal. I think that there's probably a number to it. There's probably at least three times that everybody loses everything before they get their shit figured Right? So bad choice.
Kings the wrong person to partner with. I've done this multiple times. It's hurting me pretty badly last year 2021. Yeah. I spent 8 months working with the wrong person. I lost $40,000. Didn't make any money. The guy was making a lot of money, but he was generally full of shit. And he people will tell you what they're up to, but you just don't listen to it. In the very beginning, he told me at what point that he's a master manipulator.
And then at the very end, we're in an investor meeting he told the investors, he said, would people work with me and nobody makes any money? Now he was bragging because he was saying that when he hires people He hires them so cheaply that they don't make money. But I thought to myself at that moment, I was like, I've been working with this guy for 6 or 7 months. I haven't made money. I said, whose fault is out. That's my fault. I was believing, and I was You were listening. Red flags.
And when I left, I was like, thank god. I got out of that situation. And that guy, he's a total narcissist. And to this day, he still has people contact me once in a while just to see what I'm up to. And I'm like, why do you care? Yeah. So bad choice was partner with the wrong person. 2nd bad choice was ignored red flag third bad choice was letting it last too long. It stole 8 months of my time that I could have been getting more educated in real estate and doing other things.
Yeah. That was a big mistake. A lot of people really enjoy the idea of going and moving to a new place, but I would say that if you have a strong network where you're from. If you already are a salesperson, you've been a networking person, you have a big network built where you're at, that is difficult to replicate.
Even with strong outgoing sales skills, it is still difficult to replicate the time that you've put into these relationships that have built trust And those people can absolutely say that they adore you. They love working with you. They trust you. You're legit. You've never done the wrong, and they've known you for 10 or 15 years. Versus someone who's known you for 2 weeks.
Yeah. So if you're trying to build a business, I suggest that you don't do I did, which I moved from Seattle to San Francisco, then I moved to Dallas, The I moved to Houston. So it started over again, over and over and over again. Right. And, thankfully, I had a lot of money saved. I could I could deal with that. But if I had the choice to do it again, I would have stayed in Seattle and utilized my network because I hadn't a Z network there.
Yeah. I mean oh, well, you you just gave us the the the the, like, checklist of what not to do or what to do, actually. And I agree. A 100 a whole, like, all the way down the list. I think you broke it down in a super manageable, understandable way. Just to point out for the listener here. Everything, actually, he said, the partnering, what the partnering led to, the other following steps, obviously, the network, it all comes down to relationships.
And then obviously inside of those relationships executing, right, whether the expectations. Right. And one thing that you know, you learn what to become advanced with partnerships is that you should have operating agreements.
Yeah. And so for the listeners, if you don't know what that is, operating agreement is a contract where you in the beginning of your relationship, you go over expectations as to what each person that is part of the partnership, whether it's 1, 2, or 3, or more, what each person is supposed to be Kings, some very basic, well rounded metrics in terms of what they're supposed to accomplish, and then basic expectations and timelines and The consequences if they don't accomplish them.
And so with an operating agreement, if you do that ahead of time, you avoid the whole partnership issue because if you 5 if you suddenly have a partner that doesn't do anything, then you can get rid of them. For example, we had my buddy had invested in a restaurant. And he had invested with a good friend of his who was outweighed sales guy. He was the money. That guy was supposed to be the management, general manager, and run it, stuff like that. Within a few months he quit.
He just bailed on the gun. Wow. And so now he's stuck with his restaurant. He's been losing money every month because he doesn't have somebody to buy it or replace the The, and he's doing the best that he can, but he just losing money every month consistently. Yeah. Chaz they had an operating agreement maybe it would have helped because then he would have yeah. The guy wants him to buy him out and all The other stuff like that was like, hey. You don't have an Yeah.
If you had something written out to say, you have to perform these duties or you'd get 0 Right. You'd be good to go. Right. In fact, one of my mentors just kicked somebody a big part of his business kicked him out because he said he was using the wrong coach racks wasn't doing certain Kings, wasn't upholding his operating agreement consistently over time. He said that he warned him for over 12 months, and The he said, hey. A pull of the plug. This operating agreement gives me the power to do so.
Hey, Chaz Wolf here. As many of you know, I have been on an absolute mission to help entrepreneurs from all across the country in many different industries, level up their game and grow their business, and intentionally connect with other entrepreneurs. We do Chaz, obviously, through the podcast, but We also have a peer to peer mastermind group specifically for 7 to 9 figure business owners.
We are bringing some of the best and most successful entrepreneurs and minds together in a regular and a super intentional way to not only grow our network, but to be able to leverage.
And at a certain point in business, success becomes about leverage, leveraging time, leveraging resources, leveraging key relationships, The is exactly what we're doing inside of the peer to peer mastermind group called Gathering the Kings, specifically for 7 to 9 figure business owners, So if that's you, if you're ready to level up your 7 to 9 figure business, even to the next level and get around other big hitters just like you, I want you to go to gathering the Kings dot com.
Fill out a short application, and, it'll come to an application, call with me and I wanna chat with you to see if it might be a good fit. Talk soon. Yeah. From a it's it's the expectations, like you said, just like you have with a with an employee or a team member, job description. The operating agreement can can operate in the same way, I guess, but all so so good and practical. I love all of those things.
I wouldn't I wouldn't think about doing a partnership today without an operating agreement. So simple, but yet so profound because you're right. It's not today when we're in the honeymoon stage of, like, let's get excited and we're gonna do this deal. The it's not The that you need it. It's 2 5 10 20 years from now actually where where when things don't go well or when The money's not getting made or a deal goes south or or whatever. Makes me wonder why people don't have this in marriage.
Should be operating agreements. Yeah. It just gets a little sticky as to what expectations are. You know, what Dude. Perform and stuff like that. I mean, operate remit used to be rigged in the Bible, basically. Right? And now that we've gotten away from that, There's no expectations as to what married you is. Yeah. That I'm I'm, like, over here, like, processing what you just said, and I think I mean, I talk about it.
My I I talk about how my wife knows and feels confident, confident in her lanes, and she and I know my lanes, and She did I I don't rare I rarely get in her lane. She rarely gets in our mind, and that's and it just allows us to, like, really run fast in each lane and not have to worry about triple lane each other. No further together, man. Because it it's the same thing in partnership. If you know what you're doing and I know what I'm doing, I'm not trying to, like, get in over in your tasks.
You know? That is an incredible way to look at it. I've never seen it that way. The the reason why I know about The, again, this all comes from experience, right, because I had 2 friends who were polyamorous and just help The relationship. And so they they didn't get married, but they created a marriage contract. And this marriage contract was an overview of expectations and duties and all this kind of stuff, and then they would review that marriage contract once every 6 months.
And so they shared it with all of us through Google Drive. And I can see that that marriage contract is still getting updated to this day, and I've had access to it for, I don't know, maybe 10 years. So they're successful. They're still together. Whatever they're doing is Kings, and their marriage contract is a, basically, an operating agreement. Yeah. Yeah. That's it's such an interesting concept. Thank you for for bringing that to to our minds to be able to ponder.
I wanna know around decision Kings, do you have some sort of a plan or maybe like a process that you put decisions through? That's a good question. It's hard to explain because depends on the The. Like, are we talking about purchasing a house? Because in that case, we run numbers. The numbers have to be correct. If it comes down to hiring and firing, The that's mostly on my shoulders.
And then in that case, I'm gonna talk to anyone on the team that's coming in contact with that member and just kinda gather it information, have a conversation with them, set some parameters, and then follow-up for the next 3 months and see if changes are made. And if they're not, then we let the person go. In terms of other decision Kings, I wouldn't say that I really have necessarily a discipline that I can speak to I don't have something that's been written out or written down.
Sure. Which I know that in all sales process is important to have, but it's like endless diagrams. Right? Yeah. Yeah. So, yeah, I think it's just mostly experience, and then looking at numbers. Numbers are a big part of this business. Yeah. I mean, even the two examples that you gave to us The, it was well, if this happens, then this. If this happens, then this.
So I think that, you know, even though maybe that it's not written down, you've got this pretty go to formula, which you shared out of out of second nature. So that's good. I wanna I wanna I wanna kinda come at you a little different different angle here. I got some speed round questions. Kind of different types of questions. The first one is this. I want you to take your entire business, and I want you to dwindle it all the way down into one trackable metric. Chaz is it?
Number of conversations. Okay. Conversations. Quality conversations with with sellers. That's it. Or should I say quality conversation with motivated sellers? Right. That would be the number one metric because that's what leads to contracts. And so we find that between 7 to 15 quality conversations will lead to a contract. And, of course, as you know, the KPIs go crazy after that, Yep. But that would be the number one most important metric for me personally.
Yeah. If you know that number, you can you can project, you can track, you can figure out what the rest almost instantly. Now we found that in the last year Chaz that's gone up, we're we're having way more conversations to get to a contract. It's averaging, like, 20, 25 conversations to get to a contract. And I think this is because we were in this crazy sellers market where anything would sell And so we end up having to do a lot more work to get the same sales.
And, ideally, The the next 12 to 18 months, we're gonna see a big change is gonna go back to a buyer's market. Right? Well, and you you mentioned that the solution or problem that you're solving is in a distressed situation and and distress and recession or kind of a deflationary, you know, period is, obviously, those go hand in hand. So yeah. Well, The struggle was is that we had cheap money. So the money was so cheap that everybody knew that this was an optimal.
All the people who already knew knew that this month, this time, it was like, Get as much money as you possibly can, buy as much as you possibly can because the rates are never gonna be this cheap for who knows how long, if ever again. Right? So I think that's what it was is that anything was selling because people knew that, The. I've got this money cheap for a very long period of time. 30 year fixed under 4% is, like, 50% of the market right now.
So it's gonna it's a totally different market than what we've dealt with before, but I think it's interesting. It's always fascinating to try to keep up with the changes and then, you know, pivot your business as quickly as possible. Yeah. A 100%. Because it doesn't like it's not like the business changes, whether it's in an upturn or a downturn recession wise. You just, like you said, you have to pivot.
Your your solution becomes slightly angle differently or maybe the person that you're solving The problem for changes Yep. Whatever pivot we need to move. What doesn't change much is the numbers? You still gotta buy a certain amount to make money. You still gotta buy at a certain ratio to be profitable.
That hasn't changed even though we've seen the I buyers and everything come in, you know, they did basically put a monkey wrench in a lot of what we're doing because they're over pricing everything. Right. But, hey. You know, hopefully, that's Kings come to an end for now. Like, Open door looks like it's gonna be closed door pretty soon. Zillow lost a half a $1,000,000,000. I don't think necessarily that they're gonna go under, but I think that they're gonna change what they're doing.
Yeah. 100%. K. What book would you recommend that a 6 figure business owner read? You know, that's The interesting one because we've already heard all of the basic ones. So one of my favorites is actually called the nomad capitalist, at least. Yeah. It is this one right here. Nice. K. Wolfe it. So The guy, he's he's got a YouTube channel. His name is Andrew Henderson. The reason why that's playing number 1 most gifted book is because it's not about real estate so much.
It's not focused on real estate. It does talk about it. It's more about diversifying your funds and getting second and third residences, second and third passports, getting offshore bank accounts, getting set up in different countries, and diversifying your portfolio truly. People think they have a diverse diversified portfolio, but it's all in American stocks, American housing, American, everything. So when we deal with these issues that we deal with now, they get hit.
But if you diversify 2020 Tautosys we went from one of the most powerful passports to 1 of the weakest passports in the world for a year and a half. Yeah. And so had you had a second and third passport, even a passport to Mexico was more powerful than a passport at the US for that time. Right? Cause we are considered a red country. Other countries wouldn't let you come in because of the COVID crap.
So The book teaches those strategies, and those strategies can give you a lot more power and freedom in an ever shrinking society where we can see that governments are changing things and becoming more and more kind of totalitarian, really. And so you can't stop somebody who has 2 or 3 passports from traveling. And when that means potentially escaping economic downturns, hyperinflation, tyrannipul, rural police states, any of the stuff that can and has happened. And is happening.
We saw Sherlock. We saw Venezuela. We see all these things happening. This book teaches how to avoid that and how to basically set up backup plans. Yeah. Love it. K. You've already mentioned investing into yourself and and the community that you got behind it. I wanna talk a little bit more to that. The question is, do you network or mastermind with other entrepreneurs and and why? Definitely. So networking is a requirement. I enjoy doing it. Something that I love doing.
And, it just kinda comes naturally for people, I guess, for sales guys anyway. Yeah. But it's super powerful. Right? There's stuff that you can't learn even from mentors unless you have a very close 101 mentorship, which is usually either too expensive. They don't have enough time, something along those lines, or they're just not interested in selling that product. Right? So when you network with people, you become friends with The. You can help them.
They can help you get some incredible inside information into the daily activities of people. So whether it's Master Money, Masterminds are really good too. I I enjoy that as well. I think that they're great investments. Just depends on how you master work. So for me, Master Mining is not about getting more education. It's buying access to people who are making more than me or are ahead of me in the industry that I'm in. That's what mastermind is for me. That's good.
It's gotta have it'd be a coaching opportunity. I I think coaching is great. I think networking, but they're all different. Coaching, networking, master planning. So that's that's The reason for the question. Okay. So I got one last question here for you, Will. If you lost it all, kind of already have, like, hinted a little bit about what might happen here with your little nomad jargon The. But what would you do? If you lost it all, what would you Sales, man. I did lose it all.
I wasn't like destitute or homeless, but I'd say that I lost all my working capital when I part a a different partnership where I worked with somebody and we invested a bunch of time and money into building stuff out and doing research and development on some stuff. And when it came down to if he was supposed to pay for half, And I got about 3 months behind on that. And then when I asked him for the money, he just was like, oh, I don't wanna do The. And you talk me into it.
Just basically, he didn't have the money. He was going through a divorce. I felt for him, you know, and giving him extra money on his birthday stuff like that. In the long run, I ended up with nothing. I spent all I put out all this money, and I was like, I can't go another month. Yeah. Like, my burn rate is out and burned out. So what I did was I took the little bit of money that I had left, and I went straight into sales.
And I went out and did some roofing sales, knocked doors, bagged it out, got a bunch of sales, got money back into my pocket, and I started again. Yeah. So if you lose it all, you gotta figure out how to get started again. Even if that needs taking a job, going into a sales, it just depends on what your skill level is. If you are able to do something, especially in this in in the real estate industry, I always tell people don't quit your day job.
Don't quit your day job for a long time because there's a big learning curve You have to figure out what you really wanna focus on, and then that's most likely gonna change. I've had a lot of people come in from the mentorship into my business. They work with me for a few months when they figure out this is not what they wanna do. They see, like, oh, you gotta call fifty to a hundred people every day. 7 days a week. Like, yeah. This is how we get these deals. You know?
Yeah. And then on top of that, you have to manage the business and manage expectations and talk to customers and all this, manage your calendar. It's a very difficult thing to do. So I tell people, man, stick with your day job. That way you don't lose everything. Yeah. Some people say burn all ships, burn all boats. I get that. I do get that. There's a point for that, but you need to make the journey across the sea. You need to be at land before you burn the boats.
Otherwise, you're just gonna drown in your own lack of education. Yeah. It's a super good perspective using using the analogy there of the journey across the sea. You're a 100% right. Yeah. I think I think even, and maybe not a lot of listeners know this about me, but I had 4 businesses, 4 franchises, doing a couple of $1,000,000 a year, and I actually went back to work.
The year that I opened up number 5, 6, and 7 in 3 different states is when I was I went back to work as a sales guy because I wanted to start investing in real estate, and I didn't wanna take any money from The And so I went back to work, you know, making cold calls a lot more than 50 to a 100 a day. That's for sure. I was, like, 2 to 300 a day. Wolfe running 4 companies, while, you know, all this unto Yep. I I wanted I wanted I wanted to let the The sustain.
But I still wanted to invest in real estate. So I think that you're spot on with that. I think that it doesn't have to be like that because, you know, every everybody's situation is different. I could've I could have not done that, but that definitely, it fast forwarded things for me for sure. Well, and also, what did it do?
It just kinda reinforced your work ethic provided you where you came from, gave you reinvigorated the perspective that you have when you bring on other salespeople, Chaz way you always remember where you came from. Right? When I did construction, I did all of it. Right? I had done everything, you know, Short of license level plumbing and electrical, I've done all of it. Frame walls, done additions, poured foundations, all Chaz work.
So when people worked for me, I knew what was expected, and I knew what I could do. And I was like, if you can't do as much as me, and I'm a naturally lazy person, you are not really gonna be a good fit here. And so sometimes we come out. I see 2 guys had done 300 feet of Florida. I was like, I could do that by myself. I come out the next day. I'd do it. And I would do it right in front of him and say, see, I can do it. Why can't 2 of you do it?
And so I still like, what you're talking about going to do cold calls, this allows us to be able to understand what we're dealing with now because cold calling 5 years ago, cold calling today are completely different. People really should have an idea of what their employees and their team members are listening to on the other side. So I agree with that, man. I'll still jump out some cool calls. I jump out The follow-up calls.
Obviously, I spend most of my time working on, like, complicated creative deals Sure. You know, we've got a 500 unit storage syndication deal that we're trying to get funded right now. You know, you get really busy in that stuff, but to to go back to the fundamentals is so valuable to our business. Yeah. I I love I love the the mindset, the philosophy, all of it. You've given you've given a ton of value, actually. How can the listeners get in touch with you?
Maybe they wanna be part of one of your syndications. They wanna they wanna be part of what your mentorship program. They say, hey. I wanna learn this deal. How can they find you? Easy, man. Just go to Instagram. My Instagram is The the closer, and it's the same for Facebook and LinkedIn, all The stuff as well. So reach out to me if you have any questions. If you want any advice or any help or use some deals that you wanna under, I'd be happy to help you. The is what we do it for. Right?
We do it for the opportunity to go out and help more people and bring in more opportunity. And what I love about The business is if this becomes a win win. Right? When I help someone else achieve their goals, yes, I'm gonna get paid. So it's a win win. I've accomplished another transaction. I probably learned something because they're all complicated, and now I've helped somebody get their 1st, second, or third deal. And I'd be some money. So it's like a huge And you have a new relationship.
Yeah. And we have a new relationship. Exactly. So Right. I really enjoy it. Yeah. Reach out to me. I'd love to to talk anybody who is struggling to get moving in this business, whether it be mindset or strategy or just daily tasks. It's a complicated business with a lot of moving parts. Yep. I love it. Wolfe, you've been incredible. I wish you nothing but success and blessing and and all that you've got with the listener didn't get to hear at the very beginning.
Kings that Will's got a little side left for for dogs and service dogs and training. And so he's got he's got one of his pups in the The. So I just I love what you're doing. All the cool things that you've got your hand in, the traveling, the dogs, the the real estate. You're a cool dude to know. I'm glad I know you now, and I'm curious to see where the conversation takes us, but Thank you. Thank you. Thank you for being here. Absolutely, man.
Thank you for your time, and thank you for creating this great platform. I love what you do, man. I I watched a whole bunch of stuff before we jump on The. And, you know, you're a great interviewer, and you've got a great history with multiple businesses. It shows that you are unafraid to keep moving forward, and that's act what you need if you wanna work with a bunch of case. That's right. Thank you for listening to Gathering the Kings today.
I hope that you were able to pull out a few nuggets to go apply into your business right away. More importantly, though, I hope that you're realizing that it takes more to be successful than just Kings by yourself Kings it all on your own, Gathering the weight all by yourself.
What I have realized, not only in my own journey, from multiple businesses and multiple different industries and now interviewing over 2 or 300 other very successful 7, 8, and 9 figure business owners is that It's tough to do it alone. And so gathering the Kings exists to bring together successful entrepreneurs. In fact, we are putting together 1 1000 kings, specifically who are grateful, but not done.
We're intentionally assembling kings who fight tooth and nail for their business, family, and communities, and here's what we believe Chaz in the pursuit of excellence in those areas, that it ignites within us the responsibility to govern power and forge a lasting legacy. So if that relates and and resonates with you, and you know that you need people around you, sharp, qualified The very successful business owners. I want you to go to Gathering.
Kings take a look at what we're doing and see if it makes sense for you to be part of our pursuit to 1000 Kings. Talk soon.