Ep #365 – Kent Clothier – Real Estate Mindset Mastery
Here is some of what you will learn:
Mindset makes it happen
Success is inevitable
How to separate fact from fiction
The reality of time
(78 – (your age)) x 365 / .67 = Waking Days Left
The Con of Complacency
The Choice Hack
Mindset is about Realization
The Race to Zero
All you have to do is the right thing to stand out
Why are you doing what you’re doing
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Full Transcript Below:
Kent Clothier – Real Estate Mindset Mastery (Ep 365)
Hi! I’m Rod Khleif. Each and every week I record an interview with a thought leader that I know you’re gonna get a ton of value from. Now here on YouTube are the video versions of my podcast, Lifetime Cash Flow through Real Estate Investing. Now to make sure you get the latest information please subscribe and hit the notification bell. Let’s get started.
Rod: Welcome to another edition of how to build a lifetime cash flow through real estate investing. I’m Rod Khleif and I am thrilled you’re here. And I know you’re gonna get tremendous value from the gentleman we’re interviewing today, you may already even know who he is. His name’s Kent Clothier and he’s the CEO and founder of real estate worldwide. He has been doing real estate education in primarily the single family space for I think 15 years. He’s got a mastermind like I do. It’s actually his similar name it’s called the boardroom mastermind, and he’s just an all-around great guy. I think we met through a mastermind that we belong to called the digital marketers war room and originally met there, I think, and have just been following each other’s trajectories for quite a while and I’m super excited to have him on the show, welcome brother.
Kent: Hey man, thanks for having me. Glad to be here.
Rod: Let’s have some fun today. Now, you know, I wanted you on the show because I know you can add tremendous value, even though again your focus is primarily single-family. Real estate is real estate is real estate and I thought that, you know, maybe we could start, first start by, you know, the usual tell us how you got started; what you love, and what you’re doing. But then I thought maybe we could shift into mindset, but let’s start with, you know, who you are.
Kent: Yeah, sure. Well, I mean, I’ll take a couple steps back because it’s us people in order for me to tell the story of how I got involved in real estate, you know, it’s people find it interesting that I got involved in business in general when I was back in when I was 17 years old I started a company, in arbitrage company, buying, selling truckloads of groceries of all things. That was very-very successful. Became the seventh largest privately held companies state of Florida was doing almost two billion dollars a year when I left at the age of 30, and the reason that’s relevant is because at my experience as a young man was very different than most. Right, I have been wildly successful in my 20s, and ultimately was in the in the art of losing everything to be will get him run out of my own corporation in my 30s it kind of brought me to real estate, right. And basically I got to a place to where I had burned every bridge, every relationship, everything I knew how to do through all of my adulthood up to that point. I’d burned it to the ground, and turned around and basically was left with no option but the turn is something that felt like the barriers of entry are relatively low, felt like I could potentially do it, and got the right place, right time, right situation and basically had nowhere else to turn. Got involved in real estate back in December of 2002 and wholesale my first deal in January of 2003. Since then my family and I have flipped over 5000 properties. We’ve built a very large single-family turnkey operation based out of Memphis, Tennessee called Memphis Invest. That is extremely successful today, that buys and sells roughly 90 to 100 houses every single month to investors all over the country, and then, as you mentioned what probably goes, I don’t know 12 years ago I became very passionate about how good this business had been to me and how simple it really can be if you just follow some basic processes and which I know you can appreciate, right? There’s a lot of elegance and the simplicity of this, if you’ll just pay attention. And so, we begin teaching people how to do it and showing them and providing systems and processes and training and all that, as you mentioned, the mastermind that has now grown to where we roughly have a 50,000 students around the country. We’ve got 10 or 12,000 people in our software, we got hundreds people in our mastermind and so there’s kind of evolution. Real estate has been extremely good to me and my family over the years and obviously that’s why I’m here to talk to you because I’m extremely excited about it and willing to give back any way I can.
Rod: Super. Yeah. I know and that’s why I wanted you on the show. It, you know, and anybody listens to me knows that my, it’s my belief that 80 to 90% of your success in anything is mindset in psychology, you have to actually take action with what you learn. So many people will go to, you know, an event or buy a course or read a book and they’ll never do a damn thing with it, and it’s the mindset that makes it happen. So let’s speak to that. I mean, can you speak to, you know, how, you know, mindset has impacted your trajectory and your incredible success, and then maybe how you coach students today
Kent: Yeah. Absolutely and I love to, this is what I’m passionate about. I will tell you that, you know, you hit it, you hit me on the head. Mindset’s everything. I mean, people believe that, and I know you run into the people that you teach and people that we teach to people, people come in to business that don’t come from an entrepreneurial background or an investing background or anything like that. They’re coming from corporate or they’re just new into business in general and they gravitate towards the tactical, right? Just give me the steps and, but I have definitely come to appreciate and that I stress to everybody is; the steps are not the thing because I can assure you, if your minds not right, if you are not mentally prepared, if you don’t have the mental fortitude that is required to run a business, operate a business, let’s get in there and take the failures, if you are in any way shape or form afraid of getting knocked down and potentially getting knocked out then and you’re already behind. Having the mental capacity and the right mindset to fundamentally believe that success is inevitable for you and a willingness to do whatever it takes is quite frankly everything because, again, you and I both know this to be true but that it is not a matter if you’re gonna fail, it is not a matter, if you’re gonna screw up or if you’re gonna get knocked down or if you’re gonna make a bad investment or a bad decision, that is absolutely going to happen and, you know, again, we see people every day that somehow they’ve been conned into believing that gotta cross every T and dot, every I and that they’ve got to try to get everything perfect before they take any action whatsoever which is the reason, to your point earlier, that it is the rule not the exception that most people buy courses and never do anything, right, is the same people that buy the p90x or the Beachbody or T-25 or whatever they kept in the treadmill and it’s still sitting in the garage and they don’t ever use it, that same thing. The act of buying and making the investment in the education is never the thing, it is just the tool. What has to happen is you have got to be so passionate about life, and it isn’t about success and it isn’t even about, you know, winning in this endeavor or making money it is about life in general that I just firmly believe, especially in real estate, that I have seen some of the, you know, part of my friends here man, but I’ve seen I say this all the time give me ignorance on fire versus knowledge on ice. Right, I’ve seen so many broke over educated people and so many rich morons that the only difference between them was never the education, it was the action. It was, sometimes when you’re just so naive and you’re just so passionate about having everything that you believe you deserve out of life you, will go to the ends of the earth to make it happen. You will take massive action, you will put, you will go with and take strategic risk, and you just you just believe so passionately that you deserve it, that empowers you to get to the next level so, but you don’t have, that I can almost guarantee you nothing will happen.
Rod: Yeah, no question. I love that. What you just said because it’s so factually accurate, but let me ask you this, let’s drill down a little bit. So, how do you help your students become, you know, push through, you know, the fear, that perfectionism, the limiting beliefs, the inability to take action or to get uncomfortable because somebody probably just comfortable and we know, you know, comfort zones a warm place but not a damn thing grows there. So, how do you push your people to actually take action with what you teach? I’d be interested to hear that.
Kent: We work hard to help people separate fact from fiction. It’s that, and here’s what I mean by that. You know, a lot of people have a fictional story plain in their mind, and unfortunately they have no realization that the words that come out of their mouth, as a product of that, they actually become real. So they keep telling themselves what they can’t do, what they don’t deserve instead of and so they make that real. Well, I can’t because of this or I can’t because of that, I can’t go work out because I don’t have time. That is just inaccurate period. You clearly have time. It is not important them to you, so the moment you change the word can’t to – I choose not to – that becomes a decision, and that doesn’t feel very good, right? When you’re choosing not to follow your dreams and you’re choosing not to go after things that has to the right individual, that does not feel very comfortable and becomes a choice and you own it and you become accountable. So the very first thing we do with people is to separate fact from fiction. Stop-stop, you know, be as in yourself. Stop blowing sunshine and to be very honest with yourself. Other ways we do that …
Rod: No, hold on. Before you move on for that I just, I wanna hammer something home that you just said, you know. Guys, we all create stories that to justify, frankly, their circuit breakers that make our inaction okay and that’s what they are, they’re stories and I love the way you describe that as fact from fiction because usually they’re fiction, and, you know, that these limiting beliefs that have no basis in fact but, you know, we because we maybe we truly had some emotional triggering event that makes them feel real, they hold us in an action and so, anyway, please continue. I just wanna hammer that story.
Kent: No, no, no. I happily. So, the other thing I would tell you is that, we, you know, in the same way I, you know, I had, I feel very-very fortunate in my life because I’ve had three pretty seismic events. Right, one was losing my business, two was having my mentor passed away while he was holding my hand, and three was, you know, being in a plane accident with my family on the plane believing it was my last moment. These three things really had an impact of my life, right? And because what it helped me to understand and really kind of crystallize a thought was that, the time is now, right? Time is important, right? And so, that again, what we do with our students is demonstrate and show them time, and I’ll give you a really good example of this, right. The average American male lives the age of 78, average female lives to the age of 82, and so we can make somebody through a very simple process, is go deduct your current age from that number right now. Then go multiply that number times 365 and statistically speaking that is how many days you have left on this planet, and then it gets even worse because if you go take that number and multiply it times point six seven which basically you’re dividing it, you know, you’re taking two thirds of that number, what you’re doing is assuming that eight hours at night you’re gonna be asleep. And so now, this is how many waking days you have left on the planet, and when you are hit with that number and you look at that number every single day and you realize you have a decision of what happens with that number, I don’t care who you are, that number is way too small, and what again to your point, a second ago, is that we are conned, you know, into being passive, we are conned in not owning our decisions and complacent, right? It’s, we’re lazy with our words, we’re lazy with our actions, we’re lazy with our realization that time is ticking right now. And when you are faced with that and you’re the right individual, I promise you, again, separating fact from fiction; the fact of the matter is, is you need to go. You have a very limited amount of time left on this planet to create impact, and whether that is with your family, whether that is with your community, whether that is to your friends, whether that is to your business, it doesn’t matter. The bottom line is you are in control of what happens with every single one of those days and you can choose, back to what I’m just saying a second ago, you can clearly choose to be complacent, you can clearly choose to be lazy and do nothing but …
Rod: The opportunity aboard is choose them.
Kent: That’s you got it, right? But it’s choice baby. And you are choosing. You are choosing to put everything that you deserve in your life and that you’re capable of doing, you’re choosing to put it on the back burner and say not today and again, that doesn’t feel very good. And when you do enough of these hacks, right, and your kind of separate out fact from fiction, we do the same thing when it comes to our business and investing, a lot of people will go into a market, you know, where we are we’re focused a lot on wholesome, right? So we do a lot with cash buyers in each one of the markets were in, and a lot of people will come in and they will con themselves believing, well, there’s not really anything going on in my market right? Do I need to go to another market? Just let me give you the facts, right? And we will go into our systems and show them, oh well, just in San Diego County in the last six months, there were 12,000 cash transactions for single-family houses, and the fact of the matter is, in that same six months you were just trying to do 10 deals. So I’m pretty sure you can do 10 out of 12 thousand. So can we just get to business, right? And that’s what I mean. That kind of just really hitting home with and the time is so precious.
Rod: So let me ask you something. Let me ask you something. So, what’s a tool, you know, I thought about getting a big jar filled with marbles and thrown one away every day, you know, or getting a clock that literally counts down your life. In fact, I even went on and looked for one. I kinda let it go by the wayside, but it’s something, I think I’m gonna do for myself because of what you just said. Because if you can keep it in front of you that every, you know, carpe diem because that day is never coming back. I mean, do you suggest any tools? Is there any strategy?
Kent: Yeah. It’s interesting. There’s a number different ways. It’s funny that you mentioned that. I have a buddy that filled a fish tank with 15,000 marbles in every day. Exactly what you’re talking about, right?
Kent: I don’t wear watch, right. I have a wristband that says, the time is now. Every time I look down at my wrist, the times right.
Rod: I like that.
Kent: I have a tattoo on my arm.
Rod: Yeah, I see that.
Kent: It says, the exact same thing, right
Rod: Is the time is now on that. Wow.
Kent: The clock has no hands and in Latin it says the time.
Rod: Oh, I love it.
Kent: Now, it is a constant reminder that I am in a hurry to get the most out of my life that I possibly can, and I encourage everybody to do that. So when you talk about mindset, mindset to me it is not about motivation, it’s not about inspiration, it’s about realization that we all, I mean, here’s and again, you’ve saying the same thing again, separating fact from fiction. I had the, I was very-very fortunate back in 2012. I got the opportunity to go to Haiti and …
Rod: That’s eye-opening.
Kent: And when you go to Haiti and you see one of the most desperate company, I mean, countries in the world, where it is pure primal survival, people do not know where they’re going to get their water, where they’re going to get their food, they have an infant, a mother has their infant in her arms and it is, where am I going to sleeping tonight, where am I going to eat, how am I going to take care. When it is that primal and you’re sitting here, as in almost probably anybody that’s going to watch or hear this, I guarantee you, on your worst day, the day you feel the worst, when you think I cannot do, this I can’t. I promise you, there’s not a person in Haiti that would not change places with you in a second.
Rod: Contrast is a powerful thing, isn’t it?
Kent: Yeah, man, baby. They want your problems, right? They want to be able to sit in a country where you get to control your outcome, you get the, you know, you have air in your lungs, blood in your heart, you have an entrepreneurial spirit, you have a dream and you have the possibility of making it real. How dare you not go for it. And those types of, again, hacks if you will, realization it’s kind of hitting you hard right in the gut. If that doesn’t push you to go and act I mean quite frankly, I believe that nothing will, right? And entrepreneurship is not meant for everybody.
Rod: And that hurts. You know, I know there’re people that just heard you say that and that freaking hurts. So don’t let that be your reality guys. I love this, mindset is realization not motivation, I may steal that, Kent. I like that because it truly is. It’s becoming conscious, right? It’s being conscious about your freaking life, not being a freaking robot going through this life. Yeah, love that.
Kent: Yeah, you know, and then I’ll give you one last example here and that is, because there’s a lot of people, even if they’re in business, and they are, you know, they are successful to some degree and they probably, you know, there’s a lot of people we do not definitely seen the transitions, right? Where you go from being the person that’s got the money part of it figured out. You’re never gonna go broke you know how to make money but you don’t really own a business yet, right. And then you’re you start playing this game of holding on to instead of continuing to push in, continuing to grow, continue to evolve. And here’s what, you know, how I coach people through that is again kind of just helping them understand that we are in an economy, you’re in a world today, where I firmly believe it is a race to zero, where it is just an absolute ocean of mediocrity, in other words, there are, do not have to, you do not have to look very far to find at the highest levels of business and at the lowest levels of business. Somebody’s, some company trying to figure out how to screw that customer, or how to wring as much out of them as they possibly can and deliver as little value as they can, right? Whether it’s the airlines or hotels or, I mean, it’s just, it is so prevalent, it is the norm now.
Kent: And so, …
Rod: It’s disgusting.
Kent: The beauty of that, if you’re an entrepreneur, is think about that, right? If that’s real, which we know it is, in order to be extraordinary in business today, all you have to do is do the right thing. That’s it. I mean, just do the right thing. Just take care of your customer. Be greatful.
Rod: In this business that we’re in. I mean, the bottom line is there are people in this industry, thought leaders in the multifamily space, they’re the single family space, that, it’s exactly the, speak to our industry because, you know, like I learned from one of my mentors Tony Robbins the most successful people on the planet are the ones that add the most freakin value and so, you know, the bottom line is, you know, like in my program and in your program, its overwhelmed with value. I mean, it’s like listen, you almost can’t handle it all there’s so much, and that’s why we’re both successful because we’re not scarcity mindset and, you know, I, you’re so right it’s not hard to surpass the competition by doing the right thing and add any more value that’s it. Yeah, so …
Kent: I mean, people look at it like, oh my god, how do I climb to the top. Well let me help you. The tops not that far anymore, right? The top is; do the right thing, the top is; take care of people, add value, just be the right person, right? Be the person that you wanna be and when you find yourself in those spots where you basically you’re like; man, this is scary. I’m not exactly sure I can push in. I don’t know what to do right here. Just remember this and this is the thought that I think of, this happens to me at least once a week, when I’m faced with those decisions and I’m sitting in like; man, I got a lot. I’m extremely grateful. I played a high level and a lot of different areas of my life, and when I’m when I find myself giving a little timid and pulling back a little bit, yeah, I have one thought and it’s, this is where my competition will stop. And the moment I think that, right, the moment I think that; oh, wow this is that mediocrity. Here’s that level. Here’s that place where everybody else starts watering it down, I step forward and …
Rod: I love it man, and you’re living it. I am afraid you guys could see if you’re not watching this on video, see this full arm tattoo with a clock with no hands and, you know, and no, I absolutely love it. And, you know, this and some of these quotes are fantastic. A race to zero and an ocean of mediocrity. I mean, it’s sad but it’s true man, and it’s painful to hear it and listen, if you’re looking in the mirror and you feel like that could resonate with you a little bit, there, when would now be a good time to get freaking started, you know? And take action. Now, you know, let me ask you just Kent, do you help people identify with, how do you help them get clarity? You know, on what it is they want, and do you work through goals. Talk about that piece a little bit.
Kent: So, you know, it’s rare that I work with private clients anymore but every year, I probably work with three to four and when I do that, they will come into my office, we’ll sit down and it’s my intention, again, because I’m not here to waste time, right? I’m here to get there as fast as humanly possible and give them the result as fast as humanly possible, and so in an effort to do that we have to go hard and we have to go deep and we have to, you know, yeah, we got to reveal what’s kind of potentially holding people back but to me, it’s really, you have to get very clear on four things and that is: why are you doing what you’re doing, right? Why is it not okay for you to sit and maybe somebody else rich at that nine-to-five? Why is it? Why are you willing to go take this risk? Why are you willing to go take this on? Because we all have heard the romanticized version, we’ve all seen it, where; oh my god, I’m gonna become an entrepreneur. I’m gonna control my own destiny, and the second you step out of that secure little nine-to-five, you quickly realize; hey, this is nowhere near as sexy as I thought it was gonna be, right? I might be making less money now and I have now taken on more risk and everything resides in me, and that’s a hard but if you’re willing to do that, right, it’s a necessary step, if you’re willing to do that, I wanna know why because something down deep is driving you to do that and I think that’s an extremely powerful thing that must be revealed because it is, you know, …
Rod: You probably have to go deep, right? I mean, you probably, you might have to ask the question several times, go through layers of answers.
Kent: Yeah, it’s been very rare that I’ve been able to get some anything clearly new they’re wide that I was willing to take my foot off the gas after one or two times. It’s usually five, six, seven eight-layers deep …
Kent: You keep up, and you’ll find out it’s something, you know, might be family related, it might be their kids, it might be something that happened when they were a kid that basically, it might be church or community or spiritual, it could be any kind of thing but something inside of every one of us, there’s a burning desire to succeed and you need to understand why that’s there and you need to understand it for two reasons. Number one, in any business on, you know, your business, if you’re the CEO and you’re the founder, it is a reflection of you and what you believe period. And so, to be able to clearly understand that and communicate that, absolutely will ensure that you are attracting the right people into your world, right? Like this is …
Rod: Communicating your mission. Communicating your mission. Right
Kent: Absolutely. This is your intrinsic, value this is what makes you different, you know, especially in the real estate, the practical value of buying and selling houses are building a multi-family home, I mean, everybody in their brother that you and I, you and I literally know thousands of people that have done this. It makes it different is at the top. This is why we care so much. This is why we bring so much value to it because this is what drives us at our core, and so that why is it a big-big component because it is not only the way that you communicate to the market equally, it is the way that gets you up out of bed in the morning when you don’t feel like doing.
Rod: I like that. So it’s not just knowing it but knowing it so that you can translate that into being a leader and using that in a leadership capacity. So that’s number one. What’s number two?
Kent: Number two, there’s going to be those days’ man. When you don’t, I mean, we’re all human you don’t feel like doing this.
Kent: You know, my why at this point in my life is that I’m dead set on creating as much value and making as much impact in as many people’s lives as I can and so, the way I’ve translated that, you know, and visualize that in my head is that I’m at an age now, right. So, I just turned 49, I’m at an age now where I’ve had a few friends pass away, unexpectedly, and a couple of them, I got on a plane and I flew out to their funeral, a couple I did, and I really looked at myself and said; man, I wonder why that happened, right. Why did I some like someone make the time and someone didn’t, and so, I’ve never forgotten that and my thing the way I visualize this is, whose lives have I made such an impact in that if I were to pass today, who’s gonna get on a plane and fly out here and when my little girls are sitting on that front row, in front of that casket, walk up to my little girls and shake their hand and say, your dad matter. And any time I don’t feel like getting out of bed brother, that’s all I got to think about.
Rod: Man, I freaking love that.
Rod: I mean; I absolutely love that. Thank you. You just gave me a gift personally. Love that brother.
Kent: Yeah. That’s to me is, well, what it’s about and because that’s how you use your why in multiple ways, right? Our mission out here as it relates to my business, is that we are here to wake people up, we will treat them in an authentic, transparent way and show them exactly, and it doesn’t even say show, it says demonstrate to them what it looks like and everything we do. And that’s two ways you use your why, right there. Everybody that comes to our world they know what we stand for which is …
Rod: I gotta tell you the reason that, Kent, sorry interrupt, I want to finish your thought. The reason that resonated with me is, you know, I’m a lot older than my wife and I actually think about that, you know, when I’m gone, that will absolutely motivate me. Thank you for that gift brother.
Kent: Yeah, absolutely. And so, the other three questions that you know move much quicker, the why is obviously the most important but, clearly, when I’m pushing down on people I’m trying to get them to get a lot of clarity in their life it’s, you know, what do you stand for, number one, and then what are you stand against, which should be basically converse of that right the other side, but it’s real hard and inevitably somebody will sit here and write down 20 words that they stand for. Just give me the words, right? And then we’ll go down and choose four or five, it’s real hard to sit in front of me, more importantly sitting in front of your wife or your husband or your business partner and tell me that something you stand for is integrity. When you won’t get your ass out of bed and go do what it takes to make that out, and you can’t and, you know, integrity is what you have and what you believe and what you do when nobody’s looking. And inevitably everybody goes gravitates to integrity, right? I wanna do create win-win situations, I wanna, our company has integrity and we stand for doing the right thing and etc..said well. It’s real hard to talk about it and not be about it and I’ll be the first one to call you on, right? And so, and then the last question that we really get down in; what do you believe in so strongly and so passionately that you’d be willing to, you know, take a bullet for it? You know, our military, our soldiers clearly believe so strongly in our freedom, our country that they are called to face that question every day. Most of us are never faced but I think it’s important that you understand what you believe in, and when you have those answers and you’re faced with that and you have two things now in front of you at the end of that, you know, after of a few set, a few hours with me, you clearly have what your dreams are and what you what, you know, what the answers these four questions, right. What you’re trying to accomplish and what the answers to these four questions, and on the other side you have how many days you have left on this planet, and I promise you between those two things, things will start to get very-very clear on what the next process is. That’s all right now, let’s map out how we do that.
Rod: Now, it’s the map. Yeah.
Kent: Now it’s the map. But a mindset and the tools to kinda keep you in that headspace because you and I know …
Rod: It’s never the what, it’s never the what. It’s the why. I mean, that’s the what, there’s so many vehicles you can become wealthy and successful and significant under but unless you push through the why, you’re never gonna take action with it.
Kent: That’s right. And that’s what it’s all about. And so people ask me why, you know, why with every all the success we’ve had, why are we now going in and try to do our latest venture and build our latest company go …
Rod: Yeah, let’s talk about that for a minute. Let’s talk about that for a minute. It’s called Kribez, right? K R I B E Z. So just chat about that per second.
Kent: So as we’ve been doing all these transactions over the years and as we’ve helped all these investors, there’s a massive pain points in the in the real estate industry as a whole, and that is just as a real estate transaction in the in of itself is probably the most …
Rod: It’s archaic.
Kent: Oh god. It is so archaic. There are, you know, in some cases hundreds of hands involved in a transaction. It’s bloated with costs, its bloated with inefficiency. It’s just insane and we have now gotten to a point with, you know, Uber and Airbnb and just an economy in general, where the consumer is getting more and more comfortable transacting directly from their phone, transacting directly from their laptop and we just feel like the time has come where we have got to get to a place to where a real estate transaction can largely happen online and very quickly and efficiently and inexpensively, and so, that’s they, you know, that’s a billion-dollar, multi-billion dollar problem to solve.
Rod: Sure is.
Kent: There’s a reason why it hasn’t been solved so far it’s because it’s hard. It’s not easy, right? You’re fighting a lot of different …
Rod: Well, surely lobbies. I mean, you’re fighting realtors, you’re fighting, I mean, there’s a lot of, you know, a lot of people that stand to lose from …
Kent: That’s exactly.
Rod: Right. I mean, you know, it’s like you don’t wanna be the man making the buggy whips when Henry Ford came along, you know, it’s the same, yeah.
Kent: So, you kinda look at the industry as blockbuster look at us as Netflix, The David and Goliath where we are stepping directly into the arena, been working on our application for the last two years. We invested millions of dollars and tens of thousands of man-hours in this and got off and Kribez as a platform that effectively connect buyers and sellers right online. We have cash buyers that are sitting on one side of Kribez, that are waiting with baitedbreath to buy houses. They want inventory, and we have sellers that are just sick of, you know, going in and selling or listing a house for $200,000 and looking up and in taking 78 days for a transaction to close. They’re now paying 6% in commission if they had to discounted an additional 7% and then they look up and it’s, they’ve had to make two more payments all that, we basically said we’re just gonna get rid of it. A seller puts their property on Kribez and they pay zero. Then it sells from $200,000, they get $200,000.
Kent: No cost to the seller whatsoever. They put the property on. They, we send a representative to their house to take pictures that’s it, and then we turn around and 24 hours later it hits the bidding platform and 24 hours after that, they have multiple offers on their house that can close in as little as seven days, and it gets presented back to the seller very much like a, you know, if you were going to go buy an airline ticket in years in KAYAK or trivago or Orbitz. Here’s all your offers. Here’s every investor whether that’s open door or offer pad or just all the local investors in the hedge funds. Here’s everybody that bid, here’s the price that we’re willing to pay, when they’re willing to close, what their terms are, they get to choose the one they want or they can choose none. If they choose, the entire transaction happens through the system, again, the seller pays nothing, the buyer pays a transaction fee and everybody’s off to the races.
Rod: Wow. Wow, fascinating. Well keep an eye out for that guy’s Kribez. K R I B, K R I B E Z yeah, and guys listen, if you, I know many of you listening are still in the single-family space, you’re listening cuz you want to build annuities and build cash flow in multifamily, but if you have any interest, you know, in increasing your single-family reach, Kent is the man, okay? So check him out and its real estate worldwide, super good guy and you just heard it, got a shirt on that says; average sucks, which I couldn’t agree, I couldn’t agree more. Love it, but listen brother, you’ve added a tremendous value today. I really appreciate you being on the show and I hope we cross paths again very soon.
Kent: And it has been my pleasure. Glad to be this.
Rod: Alright, take care bro.
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