I’ve got the man Josh Weidman on the show today. He’s a turnkey investor who’s working the real estate scene up in Philadelphia. Josh got his start in wholesaling, but what he’s really passionate about right now is turnkey investments. He knows to buy when the market is ripe, and he’s sharing tips on how to recognize market patterns in the neighborhoods around you so you can cash in at the perfect time.
Finding that sweet spot in your real estate investment strategy relies on your ability to think long-term. Turnkey investments aren’t your typical fix-and-flip, and you’re going to be working with this property for quite a while. Josh’s secret to success is looking past the income he’s bringing in and focusing on what made those deals or properties so successful (or what didn’t). When you can think bigger than what’s right in front of you, it’s much easier to see the whole picture. And thinking big when it comes to real estate is really the only way to go.
But Josh is talking about more than just his real estate investment strategy today. This is a guy with a real passion for this business, and he shares how he stays so optimistic and energized about his career. Josh is the kind of guy who lives with a purpose and he goes beyond the paycheck to find his motivation. This is a trick he learned from his mentors and coaches over the years. Hiring a coach will help you keep your eye on the prize, and it’s only one of the many nuggets of knowledge Josh is sharing today. Tune in now to catch them all.
2:20 – Meet Josh Weidman!
2:53 – What’s Josh’s area of expertise?
3:42 – Josh got into real estate investing when he was 16
4:59 – Josh’s biggest influence might surprise you
6:07 – Josh used to sell water purifiers door-to-door (yikes!)
7:44 – Josh breaks down his real estate investment strategy
11:15 – How to make a six-figure mistake
12:20 – How to lose $30,000
15:21 – The single greatest lesson Josh ever learned
16:22 – Advice for all the new investors
19:13 – Josh’s favorite motivational quote
21:34 – Josh’s favorite book of all time
24:24 – Josh’s philosophy on mobile apps
26:41 – Does Josh get 8 hours of sleep at night?
31:13 – Josh knows what people really want
32:07 – Josh’s tips for a productive morning
35:10 – What is Josh most grateful for?
36:21 – Josh’s favorite special on Netflix
37:17 – The best time to hire a mentor
40:50 – Josh’s secret to lifelong positivity
44:05 – How to get in touch with Josh
45:20 – What’s Josh doing right now in real estate?
Links and Resources:
- Carelton Sheets
- Vena Jones-Cox
- Jason Fried
- Tony Robbins – I Am Not Your Guru
- The Checklist Manifesto by Atul Gawande
- Outliers by Malcolm Gladwell
- Atlas Shrugged by Ayn Rand
- Rework by Jason Fried and David Heinemeier Hansson
Cory: What is going on my party people? This is Cory Boatright. I am the host of Real Estate Investing Profit Masters and the founder of Real Estate Investing Profits. I hope you are having a phenomenal day. We have Mr. Josh Weidman with us today and this guy, I tell you what, he’s out of Philadelphia. Does some stuff from Maryland as well. He is a turnkey investor and he is gonna go through some really interesting stories on this interview. I think you’re gonna absolutely dig it. Get set up, get a place where you can take some notes. We’ll always put these in our show notes but make sure that you are listening carefully to pick up the nuggets.By the way, if you haven’t downloaded our Ultimate Real Estate Investing Quick Start Guide, why not? You can simply text the word profit to 38470 and it’ll automatically send you a link and you can download Ultimate Real Estate Investing Quick Start Guide.
If you’re interested in wholesaling, and learning coaching, and want some coaching that way, please go ahead and give us a call. You can go to coryscoaching.com, fill out a quick little application on there, and we will contact you to see if we are a good fit, alright?
I know you’re gonna dig this interview. Josh is an absolute rockstar and you’re gonna pick up some great nuggets from what he’s doing out there in the city of brotherly love, Philadelphia. Alright, here we go. Here is Mr. Josh Weidman.
What is going on, Josh?
Josh: Cory, I’m thrilled to be here, thanks so much for having me, I love it.
Cory: Right, it’s good. How is everything going out there with you in Philadelphia, in Maryland, that’s where you’re doing a lot of your investing, right?
Josh: Most of it’s in Philly, but the city of brotherly love, it’s a fantastic place to be. This place is blowing up.
Cory: Right, that’s awesome, man. I’m excited to have you on here. Obviously, you’ve got some things that are rocking and rolling out there. I’d like to ask you a couple of our standard questions but what area are you more or less an investor expert in? Are you a wholesaler, or you’re a fix and flipper. What area are you an expert in right now, Josh?
Josh: I got my start in wholesaling, did a couple hundred wholesale deals. I’ve flipped a bunch of properties, built and sold a management company. Right now, I have a turnkey investment company where we combine sourcing properties, strategic renovations, leasing, and then managing the property. Yeah, that’s it.
Cory: Got it. At the end of the day, wholesaling is kind of either stick there or you kind of start there and move on. There’s really no right answer. I know many of these people are completely successful doing both. What made you want to get involved with real estate investing in the first place?
Josh: This is a kind of a funny story. When I was 16, I saw this amazing infomercial on TV. You probably saw it growing up too.
Cory: The Carleton Sheets?
Josh: The Carleton Sheets “No Money Down” system.
Cory: Little bitty ads and you can get passive income. Just assume the loan. Assume the loan.
Josh: Assume the loan. I bought it. I bought it at 16, paid $100 whatever, mailed out to me, and I dove into this thing. I watched all the videos. I read through all the material. I was so hot and ready to go and I was 16 with no money. No matter what people tell you, no money down doesn’t mean no money.
Josh: Like so many real estate investors getting started, I bought the course, and threw it in the back of my closet, then forgot about it for a bunch years. That was my start. That was my introduction to just this idea of getting a whole bunch of people together and to pay my mortgage.
Cory: Was he one of your biggest influences then? Was Carleton Sheets in the beginning?
Josh: Kind of. He was my introduction.
Josh: But really the biggest influence that I had was Vena Jones-Cox.
Cory: Really? Wow.
Josh: Yeah, I mean, I thought I was gonna flip houses.
Cory: She got into short sales later on.
Josh: I didn’t get much into short sales with her. She was my introduction to wholesaling, and originally, I bought three house to flip with three partners. All of them in subprime markets right before the market crashed.
Cory: Got it.
Josh: I got a call from a guy that was a friend of mine, Tony. He was in foreclosure. Went out to the house, put the thing under contract, and at the time I had no money. I didn’t know what the heck to do with the thing, but it was a great neighborhood, it was a great deal. She was kind of my introduction to wholesaling, kind of fumbled into it, made $30,000 in the first wholesale deal, and I was like, “This, I can do.”
Cory: That was nice.
Josh: Exactly. It was a catalyst to make me realize that it wasn’t just this pie in the sky infomercial type idea of making money in real estate. It can happen. It’s a reality. If you hustle, you can get it done.
Cory: That’s interesting. She was one of your biggest influences starting out. Did you have a breaking point? A place where you kind of said, “Enough is enough,” because you weren’t a real estate investor kind of before you were real estate investor, before you got to that point. Did you have that point where you were like, “I just need to go all in,” or did you kind of gradually get there?
Josh: I’m not kind of a gradual guy. I’m all in or all out.
Cory: 0 or 100.
Josh: That’s exactly right.
Josh: I had this construction company that failed. I didn’t know what I was doing. I was great in sales, terrible in business. I found myself selling water purifiers door-to-door. I remember the moment. There’s six inches of snow in the ground in November. It’s an early snowfall. I’m walking up and down in dress pants, and a dress coat, and I’m freezing.
Josh: Not making any money. How much can you make selling water purifiers?
Josh: I looked around and thought, “Man, I can make no money doing something I want to do. Why the heck am I doing this?” I went home, I told my wife, I was like, “I’m not doing this anymore. I’m gonna get into real estate investing.” She’s like, “Great, so how much does it pay?” It took another six, eight months before I made any money. There were some times when I second guessed myself and she second guessed what we were doing, but at the end of the day, it’s the best decision I ever made. Second best.
Cory: Alright, she can appreciate that part.
Josh: That’s right, exactly.
Cory: We’ll talk about what would be your profit master investing strategy, what’s been the strategy that’s impacted the bottom line the most. This could be maybe a door knocking strategy, or a direct mail marketing strategy, or maybe you’re calling direct to seller with a calling company, something that’s really working well. What is that investing strategy that’s just knocking out the park for you right now that you could share?
Josh: It’s not so much a marketing strategy, it’s more an overall strategy of investment and that is looking into developing markets. Philadelphia is a really interesting place in that because it’s so old, there are different areas of the city that just been neglected for so long that when that neighborhood starts to go to gentrification, it tends to happen fairly quickly.
Cory: What’s that, fairly quickly? Is that a six-month process or a three-month process or a year?
Josh: Okay. I’m looking long term.
Josh: When I say fairly quickly, let’s say 5 to 10 years for full gentrification.
Cory: Right, okay.
Josh: My master strategy is more looking at these areas and then gentrification tends to start with the artist. They go into the area. It’s a cool neighborhood, it’s really great. And then the students move in, and then you got some young professionals that are transitioning in from the students, and then you have families. By the time you get to the families, it’s a mature neighborhood.
The idea is to catch the trend between the students and the young professionals, so that even if you’re buying at market value, the rent rates and the neighborhood is changing so drastically that you can make cash flow, and in a couple of years, you’re double or tripling your money, and it’s a safe investment. A lot of people look at this as an appreciation play and it’s not. It’s more as the neighborhood matures and goes through this transition, it really comes to a head.
Cory: That’s true. You could really start noticing that gentrification process move, in Oklahoma City, we’ve seen it in different Asian markets. There’s been a big thing where people come in and they start doing all of these kind of different projects that you start noticing a kind of theme almost to that area.
Josh: That’s right.
Cory: There’s another part of Oklahoma City where there’s really artsy district. They start to do these upscale restaurants with these lofts. You start to notice some of those things too. Yeah, if you start noticing more or less that theme is starting to come into that area, you probably put some heat points on those houses.
Josh: That’s exactly right.
Josh: That’s exactly right. Noticing market trends is an incredible part of investing. You can see six months, eight months, a year down the road, and if you can see where the market’s trending, you can get in at very low price points and get out really high.
Cory: Sure. I think it’s really cool to be able to notice that on the development side. The turnkey side often also lets you see some of the things that other folks don’t really notice. One of those things for us, for example, would be wholesaling. We’re primarily wholesalers, not that we don’t own properties, and things too. But, most people don’t look, the zoning, for example. Whenever the wholesalers, they wholesale things, they don’t even check out the zoning. That’s a mistake. That could cost you a six figure mistake, potentially.
Josh: Oh, yeah.
Cory: I would think in Philadelphia especially when you get some of those deals, the zoning is probably the first thing you start to notice.
Josh: It’s really interesting. There’s an investor in Philadelphia that in the course of a year, they did something like $7 million in rehabs, just by targeting one zoning type in developing neighborhoods. They knew if they bought that zoning type, they could put condos in those things very simply and it tripled the value of the property.
Cory: So smart.
Josh: Yeah, you’re right. Zoning is a huge deal.
Cory: I love it, man. What was one of the big challenges that you faced in real estate investing because it’s not all peaches and ice cream. What was one challenge, Josh, and how did you get through it? Because those are always the greatest stories in my opinion.
Josh: Right. My background, like I said, I came from retail sale selling windows and siding. My introduction to construction was, “Okay you got three payments, there’s a third upfront, a third when you’re halfway through, and a third when you’re done.” The first large rehab I did, it was about an $85,000 rehab. I figured, a third, a third, a third, why not?
Josh: When the contractor walked away from the job and there wasn’t a third of the work done, it was ugly.
Cory: Can you share was that a kind of what dollar amount was that so we can feel the pain even more.
Josh: It was about $30,000.
Josh: It wasn’t $100,000, thankfully. This is the beginning of my career.
Cory: It’s great to learn those in those smaller amounts.
Cory: Relatively speaking, it could have been millions of dollars. It’s best to learn in smaller amounts.
Josh: At the time, it could have been $1 million.
Cory: It quite felt like $1 million at one point.
Josh: Right. It was so bad. I tried to get this guy on the phone. I’m calling him, calling him, and he’s not picking up the phone. I go to his house, and he lived in a duplex, and I’m knocking on the door, and nobody’s answering. Finally, the other tenant opens up the window and she said, “What are you doing?” “I’m trying to reach so and so.” She said, “Oh yeah, he moved out last week.” I’m going,“Oh.” It’s a sinking feeling in my stomach. It was tough, but at the end of the day, there was enough profit in the project that we could absorb the loss.
I had two partners in the deal. We ended up having to go back to the investor who put up the money and tell him what happened. Give him a solution. We found a legitimate contractor, finished the project, sold it and didn’t make a ton of money but we made some money on the project and life goes on. It was a painful learning experience but it was one that I’m glad it happened on a project like that and not one where it was a real skinny margin and could have broke me.
Cory: Right. What I think I like about learning lessons is that hopefully, whenever you go through it, not only did you learn what you didn’t wanna do, you also learn what you want to do next. Potentially, some of those things that we go through, they can actually be the best things because they can teach you the most as you move forward. Especially if you build off of that thing and you want to get it.
Entrepreneurs tend to be pretty resilient and challenge driven. It’s almost like you kicked me down once, you’re not gonna kick me down twice. That’s cool that you got a chance to learn from that. If you would say maybe what is one of the single greatest lessons that you think that you’ve learned to get you to where you are today, Josh?
Josh: This is a hard question. The bottom line though, I think, it’s gotta be think long term.
Cory: I like that. I’m gonna write that because I like that.
Josh: It’s gotta be the key to what you do. If you’re thinking short term, you’re thinking about the money that goes in your pocket in the next two weeks. You’re thinking about how can I generate income. That’s a really important part of business but if you’re focused on that all the time, you lose sight of so many huge opportunities, and you’re always counting dollars instead of counting stacks. It’s a huge difference.
Cory: Massive difference. That’s good. I wrote that down. We’re gonna put these things here in the show notes like we always do but I really like that one. If you had to start all over again, what would you change? Then maybe some advice for somebody new getting into the market right now?
Josh: I do some real estate consulting with people that are just getting in the business. One common thing that I find with a lot of new investors is that they’ll buy the course. They’ll go to the weekend seminar and nothing happens.
Josh: Literally, they forget about it.
Cory: They get excited ra-ra. I call it the church camp syndrome. They get excited ra-ra, and they come back to real life, and life hits them, and all the responsibilities, and time, and all that other stuff. It’s tough.
Josh: Really my sole advice is hire a coach. That’s what I would have done if I were to do it all over again. In my office we kind of have an incubator field. We’ve got some other businesses that are real estate related right here on our floor. One of the guys is a 28 year old. The guy is a wholesaler in his market. He was really smart. When he was in his early 20s, he hired a coach. The guy’s making seven figures wholesaling deals right now. A really intelligent guy, very exceptional, but a lot of that comes from hiring the right people, surrounding yourself with good people, and have somebody to keep you accountable and make sure that you don’t give a contractor $30,000 deposit and he never shows up for work. That’s a big deal.
Corey: Big. Huge. Whenever you hire the coach, what’s great is that they’re out of your particular situation even though they’ve probably been at some type of situation similar. But they’re not directly involved in your day-to-day. Because of that different perspective and that outside, that altitude, it can open up some incredibly powerful aha moments. It can show you strategies that just are completely oblivious to and and sometimes the best things are right in front of your face and you don’t even see them. Having the value of the coach from the third party, almost as a therapist for your real estate investing, is extremely, extremely powerful.
Josh: When you’re talking about larger dollar amounts, let’s face it. A lot of people when they’re just getting started, they’re making as much on one deal as they made last year. When you’re talking about that kind of income, there’s emotion attached to it. You got to sometimes divorce yourself of that emotion just to be able to get to the core of what either the problem is or the motivation is or what the solution is to an issue.
Josh: It’s hard to do when you’re in it.
Cory: Right, totally. I agree with that, totally.
What’s a favorite motivational quote or business quote, something that maybe you live by or you tell yourself everyday or maybe it’s written down somewhere.
Josh: My father was my wrestling coach growing up and a phenomenal guy. He had this poster made for me on my wall and it’s called 69 quotes to success. I still have the quote. My favorite was, “Obstacles are those things that we see when we take our eyes off the goal.”
Cory: I like that. Ooh, that’s good.
Josh: You think about all of the things that get in your way. If you worry about them, you’ll never get to where you want to be.
Cory: Right. You put your influences on them.
Josh: Right, exactly. I had a business coach that I work with. His whole mantra was think about how things can be as opposed to the problems that you’ve got. Don’t fix problems. Think about how they can be and go towards that ideal. Really, it’s the same concept. It’s just focus on getting better, and getting to where you want to be. All the other things that pop up along the way, you handle them, move on, and you see this a lot with companies as they expand. You have ComCast out there?
Cory: Yeah. Well, we have ComCast and Cox.
Josh: Okay. ComCast, when they started all their expansion, they took over in all these other markets, bought out these companies. Their customer service is awful. Absolutely terrible. They didn’t worry about it. They just kept moving forward and now, I don’t have anything bad to say about ComCast, they’re fantastic. I get a call from Verizon every other week trying to get me to change over my phone and internet. It’s like, “No man. I’m really happy.” Look, just keep your eyes on the goal. Keep moving forward. Do what you got to do. We can fix the things along the way but it doesn’t mean they have to be fixed tomorrow. That goes back to long term.
Cory: Long term. I love it. I love those two things and that was your dad’s quote?
Josh: Yeah, I don’t know if it was his or he just put it together. It’s phenomenal. It really inspires me every time I think about it.
Cory: I love it, man. That’s really, really powerful. Do you have any books that you recommend, maybe one that’s really made a difference to change your life?
Josh: There’s a couple. The first is the Checklist Manifesto. It’s the driest book you ever wanted to read. There’s a couple stories brought in there but it’s fantastic for breaking down your business into a bunch of checklists and making sure that simple things aren’t overseen. One example that’s in the book is that beginning 1970s, airline pilots, they were like celebrities. They pretty much could do whatever they wanted to do. I saw so many incidents of people being half drunk when they’re flying a plane, you know, just craziness.
Josh: But as people started looking at some of the problems that they were having in the airline industry, they started implementing these checklists. Everything from takeoffs to problems with the airplane.
Cory: I love it.
Josh: Everybody along the way. It lowered the incidence of crash and problems across the borders, unbelievable.
Josh: Anyway, great book. The other one is Outliers. Outliers, fantastic book. Really good, and the last is a novel, Atlas Shrugged. When I read that book, it’s a 1200 paged book and it’s really dense.
Josh: The first time I read it, I read it in a week. I was up till 3:00AM reading it every night.
Cory: Wow, man. You got committed to it.
Josh: Well, it just inspired me. I’m a big advocate of passion in your life. What I saw on that book is the comparison of these people where they had passion for what they were doing compared to the people that were just kind of floating along in life. They were like dead bodies floating through space. Since I read that, I’ve tried to surround myself with other people that have passion regardless of what the area. It’s not just business but it’s every part of your life. You surround yourself with people with passion and you tend to find more energy and more zeal for life. It’s pretty awesome.
Cory: It’s really awesome. It’s a pretty thick book, like you said too. It’s Scott Brick?
Josh: Ayn Rand.
Cory: Ayn Rand. I listen to audiobooks and I think he’s the one that [00:23:53].
Josh: There you go.
Cory: That’s awesome man. That’s a pretty powerful book. It seems like that thing’s been out for a while. I would say in the 90s or 80s. It’s been out for a while.
Josh: It’s even before that. I think it was in 1950s even. It’s been around for a long time. Ayn Rand is a little bit of a coup personally but her novels are pretty awesome.
Cory: Pretty good. Awesome, man. That is a great, great recommendations there. Do you have any favorite mobile apps that you use or anything in your business everyday, are you techy?
Josh: Just one. Yeah, I’d love to be. This actually comes back to one of my philosophies on business is that I am afraid of the next shiny thing because I have a tendency to follow it. Unless I can see something that’s gonna make a major impact, I don’t wanna invest the time, because there’s gonna be something else shining next week. For me, the best app that I use is Basecamp.
Josh: Basecamp is a project management app.
Cory: Jason Fried is the creator. He’s amazing the way he thinks. 37signals is his company. I like Basecamp a lot.
Josh: Yeah. We use it to track all of our construction. It allows me to stay on top of it without actually having to be in the field. We’ve got a lot of rehab projects going on every time. We’ve got a lot of communication with our clients. It makes it very easy to communicate and give them updates on what’s going on. It’s my favorite integration.
Cory: Yeah, Basecamp’s great. There is a lot of better competitors too but they just keep focusing on what works for them and their business. Interesting about them is that they’re a little I think under 100 people or so, and they still have an amazing, incredible business, all driven on a continuous and defined company business model for predefined revenue. A refined revenue model with their continuity basically based subscription. It’s really powerful. I think he talks about about this pretty openly too, Jason Fried. Just google Jason Fried 37signals, I think you’ll find some really interesting things about him. I appreciate him as a leader in technology and the way he thinks. I think he makes great products.
Josh: They have a fantastic book out as well. I read it two or three years ago.
Cory: Yes, called Work or…
Cory: Yeah, that was it. But the one before that was his book. He had two books out, I believe.
Cory: Yeah, great books.
Cory: Do you get eight hours of sleep at night, Josh?
Josh: It depends on whether I’m inspired or not. That’s why it’s so important to me to be focused on things that I really am passionate about. The answer is not very frequently. I’ve got three kids, my oldest is eight, my youngest is three. They’re up at five or six in the morning. I get up before they do. I can’t sleep not because I got crazy things in my head. I can’t wait to get up in the morning and get started. The morning is the best part of the day.
Cory: I love it, man. Train yourself because you got a new day.
Cory: It’s a new day, new thing that hasn’t happened yet, and it’s up to you to seize the day.
Josh: That’s carpe diem, baby.
Cory: Yeah, seize the day. There’s amazing things that can happen. We closed on a 100k deal. You never know who’s gonna make the phone call. You never know what’s gonna happen. That’s what’s so cool about this business.
Cory: It’s got a little bit of that unpredictability that says, “You can get a $5,000 deal today or a $100,000 deal.” You get excited about that on the business side. Also, just in general, living. Just being grateful and living this beautiful thing we call life that we get so stale, and complacent, and stagnant on, we get used to it. We take things for granted but just being able to be grateful and excited about this thing called life I think is another reason to put your feet on the floor and go, man.
Josh: Over the last year, there’s been a handful of people that are close to me, about my age, less than 40 that have had some pretty significant cancer scares.
Josh: My girlfriend from high school, her husband and her five year old, both were diagnosed with cancer. It puts a lot of things in perspective. Regardless of how much money is in the bank, all the tough things that happen in life. If you’ve got your health and your family, we’re way ahead. Way ahead.
Cory: I got diagnosed with thyroid cancer back in 2012, man. It was really a life defining moment. Things changed radically since then, until today. Radically have changed my relationship with my family, my relationships with my friends, my perspective on life. It’s funny because it doesn’t have to get there in order to get your attention, but often as an entrepreneur, we’re driving, we’re going so hard, and we don’t look up until something says, “Wait a minute, you have to look up or you potentially could die.” It’s so funny because we’re so used to having so many things hit us, like you said, and we’re just moving through. I have this rhino. You see this right here. I got the rhino on my desk. You see these two rhinos right here? They’re a reminder, dude. A reminder of everyday.
You’ve gotta rhino through all of these different challenges. You don’t take some times to look up and see, asking the question, “Why am I doing it? Why am I making all this?” If one of your goals is to make some money, why do you want to make your money? If one of your goals is to have freedom, why do you wanna have that freedom? If one of your goals is to have a house out in the Hamptons or Hawaii, why do you wanna do that? Getting deeper into your whys has to do with being intentional.
As an entrepreneur, and I’ll raise my hand on this, I wasn’t very intentional. I was just moving through things. Can you relate with that? You can just move through things?
Josh: Oh my goodness, absolutely. I find myself, it’s interesting you brought up money. Most people get into real estate because they’re attracted by the money.
Josh: Nobody knows what they’re supposed to do with it when they get it.
Josh: That’s why all of these lotto winners go broke. They go broke and they end up in jail or their family falls apart.
Cory: True, right.
Josh: What people really want is the freedom to be able to build a lifestyle.
Josh: Myself included, we all get so worried and bogged down with the day-to-day that often times we’re chasing this money so that we can have the lifestyle. We should just forget about the lifestyle. It’s ridiculous.
Cory: So true.
Josh: It’s really insane. Having a purpose, like you said, purposely living changes everything. You really evaluate the time that you’re putting in. What are we trying to accomplish here, really? Yeah, I want to make $1 million. Great. What are you gonna do with it? What’s the purpose of the $1 million bucks? It’s just a bunch of paper, cloth, anyway, there are a bunch of dead presidents on it.
Josh: It’s not real. Purposeful living is so important.
Cory: I like that.
Josh: The why is huge.
Cory: Purposeful living. I like that. Do you have a morning routine?
Josh: You would think so, kind of. I, like most people, I jump out of bed, jump in the shower, grab a cup of coffee. My commute to my office is an an hour.
Cory: Wow, you’ve got some time to think.
Josh: Frankly, it’s an hour but it’s not that far, winded through the city. But I come in with dead silence and that ends up being my time to reflect on what my day looks like. I make goals on a daily basis, on a weekly basis. Everybody does the year end goal.
Cory: The checklist manifesto.
Josh: Right. If you break it down into daily goals, there’s only few things you have to do every day. I try to identify those really important things that I wanna get done, when I do them. When I get to the office, usually nobody’s here. It’s fantastic. I can knock those things out before anybody walks in in the day. Those are the kind of things.
My morning routine is wake up early. If I wanna have a productive day, I’m waking up early. Get the mundane stuff out of the way. Then take some time just to think and settle myself and go from there.
Cory: Sure. It’s interesting. Sometimes, I speak with folks that have a very rigid morning routine, and they have to do it a certain way. Other times, someone is like, “You know, I just get up and I do spend a little quiet time.” I don’t think there’s a right answer to that either. I think you have to be in touch with what makes you most productive and intentional.
Cory: Productivity is way different than just being busy. Confusing those two can cause a lot of damage in your life. Get some clarity on that. I think just understanding how you tick, what makes you productive, what makes you intentional, focus on things. That’s one thing you gotta tap into.
Josh: I’ve tried to be a different person before. I’ve tried to fight the tide. One of my partners here is very, very regimented. You know that he is on BiggerPockets every morning from X time to Y time. Every morning you can set a clock to it. I’ve tried going down that road. It’s not me and that’s fine, doesn’t mean I’m any worse of a person.
Josh: But a lot of what I learned in business is about being self-aware. Being honest with yourself about what you’re good at, what you’re not good at, feed the stuff you’re good at, cut the other stuff out. Don’t try to be somebody you’re not. If you can do that, it’s a win all the way around.
Cory: Speaking about that, what are you most grateful for?
Josh: Definitely my family. I’ve got an amazing wife that I couldn’t ask for a better partner in my life. She’s amazing. I got three great kids, I got amazing parents, a great sister, awesome in-laws. So many people I know have conflict within their family. That is something that I’m just tremendously grateful for. It’s a blessing everyday. It’s incredible.
Cory: That is incredible, man. We’ve talked about this, it’s a blessing too. Some people, they’re listening, they’re like, “Man, I wish I had that.” That’s a point of conflict.
Cory: Even though there’s sometimes this point of conflict, there’s always a reason to be grateful if you just look around and find one. Often, you can be focused on all the things that are going ‘wrong’ which is the perspective often in your life. Looking at the obstacles instead of looking at what you want which is the goal and where you’re headed and your target.
Josh: On that note, Tony Robbins, he had a special on Netflix. I don’t know if you saw it?
Cory: Yeah, I Am Not Your Guru.
Josh: The best line that I heard in that whole thing is that if you’re gonna blame your parents for the bad things in your life, you have to give them the credit for the good things too.
Cory: So true.
Josh: It’s not one sided, like you’re saying, we all come from a messed up childhood, all of us. Our parents do the best they can and they’re flawed people just like we are. They do the best they can. I’ve come to grips with them when I screw my kids up, I hope it doesn’t happen but I’m doing the best I can.
Josh: You can be grateful for what you’ve gotten out of each situation, good, better, and different. It’s just a better life.
Cory: Totally true. You talked about when you recommend hiring a coach and said how important really that is. Would you recommend when someone’s getting started to hire a coach right away or get their feet wet. When do you recommend that?
Josh: I think it depends on what you’re getting into as far as real estate. If you’re starting as a wholesaler, there’s a lot of great free content, free information, mess up your first deal. Get your first deal out of the way, screw it up, look like an idiot, whatever.
Cory: Don’t be afraid. Just overcome that fear.
Josh: Exactly. If you’re investing money in a property and you’re buying it for a rental or flip, I would recommend hiring a coach right away because there’s a real loss. I know people that have had catastrophic financial loss from one bad investment that it takes them decades to recover from. Nobody wants that.
I would recommend in that type of situation, get involved with a coach. Somebody that’s either local or that is really successful that can read you through the process.
Cory: Totally agree. If you had to summarize it, why do you do what you do? What gets you up in the morning?
Josh: Passion. I love designing marketing plans that bring in leads. I love it when I can say man, this worked, or didn’t. I love getting leads like you’re talking about, the $100,000 deal or like the $500,000.
Cory: You like getting that data. You like getting that data that’s being created in the funnels. You’re like the creator.
Josh: I love that.
Cory: Yeah, you’re the creator.
Josh: I also love watching the flip come together. We got a project that walked through yesterday. It took 90% of the project to get to the point where we can put all and finish it together. That last week, it’s amazing. All of a sudden, it looks like a finished product, just really come together. It’s beautiful. I love that kind of stuff. I’m really passionate about real estate. I’m really passionate about my job. I’m really passionate about just life in general. It’s great. I could go broke tomorrow, as long as I got my family, I got my health. We live in the greatest country in the history of the world.
Josh: The most opportunity that anybody’s ever had to succeed.
Cory: Amen to that. Yes.
Josh: What’s not to be excited about? That’s what keeps me going.
Cory: I appreciate you being so frank about that. There are people listening that struggle with that.
Cory: Sometimes, you meet some people and you’re kind of like, “Man that guy’s just gets, he’s just so up all the time. He’s positive. Everything seems like it’s going right.” But then, you have some other folks that are not so optimistic, and maybe a little bit more pessimistic. Maybe they struggle on finding that passion because of maybe something’s happened in the past, Josh.
Cory: Or maybe something they’re going through in the current situation right now. What is something that you would do, because I can get this from you, man, just from the video of that energy that you’re putting off. I know some people are like, “I want that but I don’t know how to get it,” or, “What can I do to get a little bit of that?” What would you tell those folks?
Josh: It’s a decision. It is a conscious decision that you have to make. If you look at the history of mankind, the United States is the richest nation in the history of the world. Think about this, people that are on government assistance, they’ve got a TV, most of the the time they have a car, they have a warm place to live.
Cory: So true.
Josh: If you’ve got a roof over your head, eat two or three meals a day, you can see a doctor when you want, we’re better off than 90% of the world’s population right there.
Cory: Oh, I think even 99% of the world.
Cory: I think we’re in the top 10. If you own a car, I think you’re either in the top 10 or top 5% of the richest people in the world.
Josh: Yeah. I’ve not always been wealthy. To be candid, I had a business I lost in the beginning of this year. It cost be about $400,000. It was a bad loss. I could dwell on that and it would sink me, but the truth is I go home and I still got kids that run to the door to give me a hug. It’s all about looking around you and seeing all of the blessings that we have. I’m not a religious guy but I’m a believer. You see the stuff that Christ went through, that the disciples went through. These are like the top level Christians and they’re getting murdered and crucified.
Cory: And hammered.
Josh: Exactly. In every aspect. Life is a lot longer than our reality will let us realize sometimes. When we get bogged down in difficult times, it’s rough. But when you look around and you realize all the small blessings, it’s incredible. It’s overwhelming. That’s what keeps you positive. That’s what gets me up every day. That’s what makes me so passionate about what I do is that I have the opportunity to improve my life every day and it’s not necessarily financially related. This is life in general. There’s so many opportunities to be successful humans and help people around us. That’s a big deal.
Cory: I think you summed it up really well which is a conscious decision to focus on the blessing, not all the struggles and not all the heartache and everything else that is going on. Even right now, as we speak, some of the horrible things are going on as we speak but having a conscious decision to focus on the blessing, what’s around you, what you’re grateful for, what you can affect. Kind of that starfish that you can pick up and the fact that life and so.
Man, that’s really incredible. I love the perspective. Thanks for sharing all of these awesome tips and just being candid on this. I love it. What’s the best way for someone to get in touch with you, if they want to get in touch, make a connection, and something like that.
Josh: Sure, absolutely. If they’re interested in investing in Philadelphia Real Estate, you can go to realestatetheeasyway.com and give you an overview of our model. Also, we’ve got a bunch of training videos for all kinds of real estate investing at the facebook.com/TCSInvestments, or they can reach out to me, shoot me an email, it’s firstname.lastname@example.org. I love helping people succeed. I love talking to people about real estate, feel free to contact me.
Cory: I’m feeling it, man. Where are you at with your market right now? How many deals did you say you’ve done in the last 12 months? What’s your target for next year?
Josh: We’re at, we did 100 and my math is terrible. It’s 138 deals in the last 12 month.
Cory: Are those mostly fix and flips?
Josh: They’re mostly turnkey deals.
Cory: Turnkey deals. Okay.
Josh: Yeah. I do flips personally. I don’t do a ton. I think we did 7 in the last 12 months. I’m more focused right now on the turnkey aspect of our business and on building a pool of rentals internally. That’s kind of where I’m at but our market is really phenomenal. Philadelphia is a really cool place. I feel like every month, I drive into the city, and the skyline changes because there’s another skyscraper going up. It’s just a cool place.
Cory: Awesome, man. Yeah. You got some cool history there for sure.
Josh: Yeah, it’s pretty exciting.
Cory: Awesome, man, exciting. Definitely thank you for being on here, man. I’m looking forward to getting the show notes all set up and getting this out there. Thanks again, Josh.
Cory: Appreciate you.
Josh: Cory, thank you so much.
Cory: Yeah, man. I appreciate you. Make sure that you’re on the next Real Estate Investing Profit Masters podcast. We’re gonna be bringing another expert on here to give you some of the best tips, strategies, for making your real estate investing go to the moon. God bless you, man. See you later. Bye now.
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