Carson Olinger founded Capital City Equity Group in July 2017, inspired by his family initials and residing in Georgia’s capital city. With a background in sales and marketing, Carson leveraged SEO and PPC strategies to generate motivated real estate leads, quickly establishing himself in the industry. Transitioning from wholesaling to diverse income streams, including rentals and flips, Carson has grown his portfolio to 269 doors and $15 million in assets. Using creative acquisition methods and partnerships, he continues to expand his influence and educational outreach in the real estate investment community, aiming to sustain long-term growth and wealth generation without using personal funds.
Here’s some of the topics we covered:
- From Corporate Sales to Real Estate Mogul 00:00
- Mastering Subject 2 Deals 5:40
- The Truth About Wholesaling and Flipping 10:53
- How to Find Motivated Sellers 13:16
- Why Mobile Home Parks Are the Next Big Thing 16:47
- Carson’s Unforgettable Real Estate Seminar 21:20
- Advice For New Real Estate Investors 28:32
- Perfect Advice From Real Estate Experts 35:08
To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com
Full Transcript Below:
00:00:36:11 – 00:00:53:13
Rod
Welcome to another edition of Lifetime Cash Flow through Real Estate investing. I’m Rod Cleef, and I’m thrilled you’re here. I’ve got a really interesting gentleman in here today that came in from Atlanta. His name’s Carson Olinger, and Carson has seven mobile home parks. about a total of about 200 units. And he’s got some other property as well.
00:00:53:13 – 00:01:08:00
Rod
And he came down here just to add value. You know, I asked people why they, why they want to get on the show, and usually it’s to get investors or so this and that. And he, he’s his he came in here just to add value, which I absolutely admire. Welcome to the show, brother.
00:01:08:02 – 00:01:09:13
Carson
Thank you. Appreciate being.
00:01:09:13 – 00:01:29:04
Rod
Here. I appreciate you being here. And so, you know, and you’ve been at this a good bit. You’ve been at this for about seven years now. and so, why don’t you give us a little background? Because you’ve got quite a transition. I think you did. You did some wholesaling. You did some other things. So why don’t you let us give us a little background on on your history in real estate?
00:01:29:06 – 00:01:37:23
Carson
Well, thanks, Ron. I’ll be happy to. So I got started in 2017. I was working in the corporate environment for quite a long time and felt like.
00:01:37:23 – 00:01:38:23
Rod
My in what capacity.
00:01:38:28 – 00:01:57:27
Carson
I was in sales. I worked for a packaging company out of Indiana, so I was more or less autonomous, and I just felt I was on the road. My kids were growing up on Skype back in the day when we had Skype, right. And I just needed to be home. And my wife was home alone quite a bit as I was traveling, and we did a lot of prayer to figure out where we needed to go.
00:01:57:27 – 00:02:17:00
Carson
And I found another opportunity to work at home. But it was in another packaging business which I bought into and still own today is kind of an ancillary side gig, but I really wanted to get into real estate, and when that packaging business started to go south, I recognized very quickly that this wasn’t going to sustain our lifestyle.
00:02:17:00 – 00:02:34:25
Carson
So my wife turned to me and said, you know, I’ve been praying a lot about you getting into real estate and you need to do it. And she gave me a lot of confidence to do that. And quite honestly, rod, I was scared and I was scared to get into it. I tried to do it with a partner back in oh eight, and that was the worst time to try and do it, and I’m glad we didn’t.
00:02:34:27 – 00:02:49:12
Carson
but I knew I had to have a plan, so I made some goals. I said, If I’m going to do this, I’m not jumping in feet first. I’m going in headfirst and we’re going to have a one year plan, a three year plan, and a five year plan. And I knew that this is a people business just like any other business.
00:02:49:12 – 00:02:58:08
Carson
And that’s what I did with sales. So so I need to meet people. So I went to every single Reia that I could find in 30, 40, 50 miles in every direction.
00:02:58:10 – 00:03:11:02
Rod
By the way, guys, you know what a Reia is. It’s basically the the predecessor to meet up groups. Okay. And so real estate investor association meetings is what that stood for. And that’s where everybody started back in the day. Please continue.
00:03:11:07 – 00:03:32:27
Carson
So I went to all these races and I was just meeting people. And I was getting involved and I was asking all the silly questions because I didn’t know the language. I didn’t know real estate. I was like, hey, what’s two plus two? People would answer me and they would be willing to do so. And I found that fascinating that all these people that were involved with it, that had these great stories, had properties, been doing it for years, they’d probably forgotten more than I knew.
00:03:33:00 – 00:03:51:13
Carson
And they were answering my questions. And I recognized immediately there was a great network of people out there. So I cultivated that. I tried to find investors. I could put on lists and then also try to go out and find properties. But one of the things I recognized early on, rod was you had to have credibility. You had not only in your integrity but in your numbers.
00:03:51:13 – 00:04:08:14
Carson
You needed to know what you were going to do. And I didn’t know some of these things. So I reached out to some people I knew and I said, hey, I’m going to go look at this house. Will you walk it with me? Tell me what this house is needs in a rehab value. And then I’m going to tell you what I think it needs, and then we’ll figure out where I’m wrong.
00:04:08:16 – 00:04:20:06
Carson
And as a result, I’ll give you some money on the back end after I wholesale it. So I was getting an education without really having to pay for it, but I was sharing the profits and I recognized that’s the way to do it, because I didn’t have a lot of money.
00:04:20:06 – 00:04:21:03
Rod
So that worked.
00:04:21:05 – 00:04:28:27
Carson
It worked very well. Yeah. I mean, the first house I remember specifically I came out $7,500 is what I thought. And he was like, no, it’s more like 35,000.
00:04:28:29 – 00:04:29:16
Rod
Oh holy.
00:04:29:16 – 00:04:40:27
Carson
Crap. Yeah. It was way off. And I said, what am I missing? And he went through it all and I picked it up. So I understood concepts very well. Matter of fact, that first deal is a subject to acquisition. No kidding. Yeah. And I love okay, so.
00:04:40:27 – 00:04:58:06
Rod
Let’s just stop there for a second. All right. So, you’ve you’ve said a lot very quickly, one of the things you said was you did goals. Okay, one, three and five year goals, which is one of the first things we do. I mean, is the first thing you do it one of my boot camps. Okay. and I mean, literally, how do you do it?
00:04:58:06 – 00:05:11:22
Rod
How do you get anything? You know what it is. You write what the hell you want and why you want it. So. So you did it. Just. Just didn’t. You just knew you had to do it. And you did A13 in a five year plan. That’s part of my goal setting workshop as well. As I tell people, put a number how long it’s going to take you to achieve those goals.
00:05:11:22 – 00:05:26:21
Rod
And, and we work through that process. So I’m really glad that you brought that up. So guys, those of you listening, if you haven’t done your goals, go to rods links.com and go to the bottom. I’ve got my goal setting workshop there. I’m not going to try to sell you anything. Go do it. Have your spouse do it.
00:05:26:21 – 00:05:42:21
Rod
Have your kids. If they’re over ten years old, do it. Set them up right to get going. But you got to get your goals done. All right. Now let’s talk about subject two for a minute because I I’ve done some subject two deals. and you have to be very careful what subjects you deals. so go ahead and talk about what that is.
00:05:42:24 – 00:05:51:29
Carson
So you’re right. Right. You have to be very careful because you only have to protect your interest, but you also have to protect the seller. Right. And if you have any type of integrity whatsoever, you need to make sure that everybody is.
00:05:51:29 – 00:06:03:13
Rod
Pretty well or you can go to jail. I’m sure there’s some federal laws now around subject two. You got to be careful. They put people in jail back in oh nine and ten, what they called equity skimming where so so describe a subject who is rather than have me tell them.
00:06:03:16 – 00:06:14:06
Carson
So basically you’re taking over a mortgage that somebody else has. Right. And typically those mortgages are somewhat upside down. So you may have to catch them up. So we would work with them to get those numbers to where we knew what the.
00:06:14:06 – 00:06:19:02
Rod
Catch behind on their payments to catch up their payments. And then you basically step in and take over their payments.
00:06:19:10 – 00:06:19:21
Carson
Correct.
00:06:19:21 – 00:06:39:26
Rod
The difference between that and assuming a loan through an assumption is the lender really doesn’t know that it’s happened very often. You’ll you’ll use some mechanisms to kind of keep that on the DL. Like, a lot of people use land trusts and things like that as we do that. You do that, okay. So you throw it in a land trust, maybe in the name of the the person, the seller or, and the address of the property.
00:06:40:01 – 00:06:57:02
Rod
And then you can transfer that beneficial of interest in the land trust, and mitigate the potential for what lenders call a do on sale clause. Correct. You still have to be careful. But, you know, I’ve, I’ve. I don’t think I’ve ever seen a lender do a do on sale for a transfer like that. Not to say they couldn’t.
00:06:57:05 – 00:07:12:08
Rod
Right. But, but where people got in trouble. And I want to bring this up, if you don’t mind. Sure. My job is to protect you as as much as it is to help you grow. is if you do one of these subject twos and you don’t make the payments and you collect the rents, it’s called equity skimming.
00:07:12:08 – 00:07:16:02
Rod
And it’s a federal crime now. Right? Just you get a you don’t screw around with that is my point.
00:07:16:03 – 00:07:17:08
Carson
And that goes back to ethics, right?
00:07:17:08 – 00:07:40:04
Rod
Yeah. Well it does. Yeah. Bottom line our number one core values integrity and all my companies. And but I just want to bring that up. So you talked about credibility circle back to what actually you talked about language as well. So that’s another thing. You gotta learn the nomenclature. Like, you know, if you come to one of my boot camps at the back of the manual that you get us all the there’s a glossary of all the terms you got to memorize and you got to you’ve got to know what a pref is.
00:07:40:04 – 00:08:02:27
Rod
You need to know what an Loi is. You need to know what a PSA is. By the way, the preface, the preferred return on investment, the otherwise a letter of intent which starts the conversation with the seller and the PSA is the purchase and sale agreement, which you got to know all that stuff. Absolutely right. So you gotta learn the language and you learn that by being around people that do it right, by going to these Reia meetings and talking with them, and you learn the nomenclature, talk about credibility.
00:08:03:00 – 00:08:20:29
Carson
So credibility is twofold. One, obviously your handshake, you got to be incredible person. You got to know what you’re talking about. Right. The other thing is you have to know the numbers. And I got into wholesaling. My first goal was get into the business and wholesale. But as you know, wholesaling is an easy barrier to entry. There’s nothing really that you going to put into it that there’s some time.
00:08:21:02 – 00:08:34:23
Carson
But I knew that if I wanted to have credibility for my two and three and five year plan, that I had to come out of the gate where the people that I’m going to to sell these properties wholesale, they’re going to want to come back to me later to do a fix and flip, or maybe borrow money from.
00:08:34:25 – 00:08:44:26
Carson
So if I’m going to bring an investor out, that probably knows more than I do at that time, they got to know that the numbers I’m giving them are accurate. The RV, the rehabs are not wasting their time.
00:08:44:26 – 00:09:01:28
Rod
By the way, RV is yes, after repaired value, which is a common term in this space. We’re kind of talking in the single family space right now, but we’re talking about his history. But I think it’ll add value to you to to go ahead and continue this conversation. but but yeah, that’s one of the things you got to calculate when you do a flip or a wholesales.
00:09:01:28 – 00:09:04:25
Rod
What’s it going to be worth after you fix it up? So that’s the RV okay.
00:09:04:25 – 00:09:11:19
Carson
So that was the credibility aspect of it. I knew that if I can establish credibility by having the numbers right, that I would gain credibility.
00:09:11:19 – 00:09:21:07
Rod
In the market. So that’s how you got the credibility was, Bruce, by offering people a piece of the deal to come help you walk through it, hands on. Got it. Okay. Perfect. Okay. Keep going.
00:09:21:10 – 00:09:38:01
Carson
So with that being said, I then evolved through the wholesaling process and to fix and flip my first fix and flip was a wholesale property. I couldn’t move and I had an investor come in and say, hey, I’ll buy it for your contract price, but I’ll pay for the entire renovation. You run it.
00:09:38:04 – 00:09:38:25
Rod
Hmhm.
00:09:38:28 – 00:09:47:23
Carson
Education, right? And I’m like, I’m thinking, great, I’m not going to lose the contract. I’m not going to make any money on the front end. But there’s opportunity to learn, an opportunity to make money in the back end.
00:09:47:23 – 00:09:49:09
Rod
Oh, so he’s going to share a little in the back end.
00:09:49:12 – 00:09:50:25
Carson
Because he shared 50% of the deal.
00:09:50:26 – 00:09:52:07
Rod
5050. That’s a hell of a guy.
00:09:52:08 – 00:10:08:19
Carson
It was great. And he saw that I had some potential I guess, and we did other things together down the road. But it gave me an opportunity and a lot of people said, I’m not going to take that. I’m not going to make any money. But I saw the potential there to gain make any money. We did. We actually went up making about 10,000 each.
00:10:08:21 – 00:10:09:28
Rod
Fantastic. Yeah.
00:10:10:00 – 00:10:11:20
Carson
I thought so. It was better than.
00:10:11:22 – 00:10:20:07
Rod
And you learned rehab? I’m sure you stub your toe a few times. Oh yeah. We’re going to talk about that later. But we’re talking about some failures. I know you’ve got a YouTube channel that focuses on failures, right?
00:10:20:11 – 00:10:31:11
Carson
We’ll have a Facebook channel. Oh, Facebook, YouTube stuff. I would do a lot of educational stuff back when I was doing a lot of the fixing up. So I would show people what not to do and how to do it, and what to look out for when you’re doing certain things.
00:10:31:11 – 00:10:39:02
Rod
Yeah, right. Well, you talked about Rias, and I know that you formed your own Ria, that you kind of let go, but you’re thinking about reinstituting it. What was it called again called Northpoint.
00:10:39:02 – 00:10:59:09
Carson
Ria. It’s in the north side of Atlanta. It’s an educational it was totally free. And we just wanted to help educate people and also grow our network. So we’d bring value to people coming in there, from tax advice to social networking, what have you. And then concepts of, you know, subject to acquisitions, whether it’s, you know, deal structure, how to analyze deals, those types of things.
00:10:59:09 – 00:10:59:28
Carson
Sure.
00:11:00:01 – 00:11:05:18
Rod
Sure. That’s that sounds really good. Okay. So you started fixing flipping. You did that first one. Continue from there please.
00:11:05:18 – 00:11:17:08
Carson
So we fixed and flipped, I don’t know, teens 20 something in that range. We got into doing that and I recognized anyone following my path, my goals. This is a job. I don’t want a job. I want a business.
00:11:17:08 – 00:11:20:26
Rod
Flipping and wholesaling as a job. It was you. Every January 1st you go back to work.
00:11:20:26 – 00:11:21:09
Carson
You got it.
00:11:21:09 – 00:11:32:23
Rod
Which is why we’re here. Because the name of my podcast is Lifetime Cashflow for a reason. And that means you create annuities. Basically, you’re buying assets to throw off cash flow for life. Yep. So you got the memo.
00:11:33:00 – 00:11:50:18
Carson
I did well, I got it early on. And that was part of my goals. I wanted to wholesale to get into the business, fix and flip, to make significant money, and then save the money and then get into long term buy and hold, which is what we started doing. I bought my first duplex in 2019 and it was a wreck, but I renovated it.
00:11:50:18 – 00:12:10:13
Carson
I got it for like $70,000. Nice. And we put 30 in it in Atlanta somewhere. It’s in a northern suburb. It’s a submarket of, okay, in a little town called Cleveland. but it’s just outside the mountains. Great little area, but long term tenants. And then I’ve had some tenants in there for the whole time. Well, but, it’s now probably worth, you know, 300, 320,000.
00:12:10:14 – 00:12:30:11
Carson
Nice. So it’s doing well. I’m holding on to that asset. And then I bought a single family home and rented it as well and did. Well, I’ve since, got rid of that asset, but then I found a mobile home park. And so one thing I did was I did things that other people didn’t. I recognize that people are buying lists to find properties.
00:12:30:11 – 00:12:49:18
Carson
People are looking through the tax records and doing all these things. That’s easily accessible, the low hanging fruit. And I found myself calling the same people these other people were calling and I said, I need to do something different. So we focused on dispossess trees. I went and looked at evictions. I physically went down to the courthouse, pulled evictions, and I.
00:12:49:18 – 00:12:50:23
Rod
Called those owners, called.
00:12:50:23 – 00:12:50:29
Carson
Those.
00:12:50:29 – 00:13:06:02
Rod
Owners. I teach this crap at my bootcamp and I finally met someone that actually does it. I love it. I mean, this is one of the strategies I talk about for finding deals. Very see, and I and I pre frame this by saying if you’re willing to do what other people won’t, you will always be a success. Yes.
00:13:06:02 – 00:13:26:17
Rod
Like me knocking on doors of people in foreclosure, you know, 30 years ago or 40 years ago and bought hundreds of houses that way. And so you just went to the evictions. Listen, when a seller is evicting or an owner is evicting someone, they’re not a happy person. How did you ever go to eviction court and watch the Glee on a on a judge’s face when he realized they did the paperwork wrong, and he starts them all over again?
00:13:26:18 – 00:13:27:13
Carson
I never did that.
00:13:27:13 – 00:13:41:15
Rod
Oh, I’ve been a part of it. If you’re masochistic or sadistic, no matter which watch it is. But if you want to see, oh, the judges love it when somebody screws up the paperwork and an owner and they have to start all over again, you want to talk about a pissed off owner? That’s. But yeah, you’re catching them when they’re motivated.
00:13:41:15 – 00:13:54:28
Rod
Motivation is everything. And I get people to call me and say, you know, I can’t get this. I can’t get to sell or motivate. I’m like, you’re not going to motivate somebody. It has to be their divorce, death, you know, evictions, you know, tired, sick, whatever. Yeah.
00:13:54:28 – 00:14:04:06
Carson
And that’s what we focused on was motivation. Yeah. And I recognized early on I said, if I go spend the time and look for these dispossessed crews, they’re going to change every week. Every month I’m getting.
00:14:04:06 – 00:14:05:27
Rod
New, newly new leads.
00:14:06:00 – 00:14:20:27
Carson
But I get something out of the call. I have their phone number, so I’m not doing letter campaigns. I’m calling these people directly and they’re they’re usually typically, you know, as well as I do, most of these owners are probably some of the inherited property. Once you choose you kind of stuff, but a lot of them may have more properties.
00:14:21:04 – 00:14:23:08
Carson
So I either got to deal with them.
00:14:23:08 – 00:14:25:00
Rod
How many properties do you think you got that way?
00:14:25:07 – 00:14:34:08
Carson
Well, my first mobile home park, I know I called on a single dispossessed and I said, would you be willing to sell that unit? And he goes, no, but I’ll sell you the mobile home park. And I was like.
00:14:34:10 – 00:14:35:18
Rod
That was a seven unit, you know.
00:14:35:18 – 00:14:36:09
Carson
27.
00:14:36:11 – 00:14:37:06
Rod
27 unit.
00:14:37:06 – 00:14:39:25
Carson
That was my first actual mobile home park. 27.
00:14:39:25 – 00:14:40:06
Rod
Good for.
00:14:40:06 – 00:14:45:03
Carson
You. And then we structured that whole thing with bank and owner financing and some money down.
00:14:45:03 – 00:14:46:14
Rod
So we did some creative stuff.
00:14:46:18 – 00:14:49:08
Carson
Very much so. And that’s really what we do now is a lot of deals.
00:14:49:13 – 00:14:51:26
Rod
You got some bank financing on it? I did well.
00:14:51:27 – 00:14:52:17
Carson
I did it was a.
00:14:52:17 – 00:14:55:09
Rod
Really it can be tough on on smaller mobile home parks, but.
00:14:55:10 – 00:14:57:22
Carson
It was and we only got a 50% loan to value from.
00:14:57:22 – 00:15:00:11
Rod
The bank then. Yeah 50%. They’ll typically feel comfortable.
00:15:00:13 – 00:15:09:22
Carson
What they did. But the nice thing was I didn’t have any experience. But the man who sold it to me wanted to stay on as the on site manager. Oh, wow. Yeah. So I.
00:15:09:22 – 00:15:10:08
Rod
Lived there.
00:15:10:09 – 00:15:18:20
Carson
He lived there and I gave him his rent for free. He did all the maintenance for free. Other than just paying for the actual materials, it’s it’s still to this day.
00:15:18:21 – 00:15:19:18
Rod
He’s there to this day.
00:15:19:18 – 00:15:22:03
Carson
To this day. Oh, that’s crazy about it in 2019.
00:15:22:03 – 00:15:27:12
Rod
No kidding. That’s crazy. Well,
00:15:27:14 – 00:15:33:07
Rod
I, I kind of want to talk about mobile home parks a little bit, but I’m sure if you still have more to your story, we could circle back to that.
00:15:33:09 – 00:15:38:22
Carson
Well, that’s really the evolution. That’s that’s wholesaling to flipping to right into the. Yeah. In the multifamily.
00:15:38:27 – 00:15:40:03
Rod
I know you want to go larger.
00:15:40:03 – 00:15:48:07
Carson
Now we are going and we just bought a bought a better asset. We did a 1031 exchange from a mobile home park into an apartment complex.
00:15:48:07 – 00:15:48:26
Rod
How many units?
00:15:48:26 – 00:15:49:19
Carson
14 or.
00:15:49:19 – 00:15:56:21
Rod
14. Okay, just small apartment complex. Yeah. He told me he wanted to go larger. I’m like, dude, if you’re in the right spot for that, we’re trying.
00:15:56:23 – 00:15:57:12
Carson
Yeah, we’re trying to get.
00:15:57:12 – 00:16:17:24
Rod
Told me he’s been suffering and suffering through. My podcast started at number one and done a whole bunch of podcasts. like, man, that sounds painful to me. But anyway, so mobile home parks now I know a lot about the business. My brother owns several large parks. One of my best friends is Kevin, but I don’t know if you know that name.
00:16:17:26 – 00:16:40:16
Rod
No, no. Oh, he’s got thousands and thousands of pets. and, and you said that you have all park owned homes. The majority. Yeah. The majority. See, the strategy for most operators is they’ll buy a park and they’ll sell the park owned homes to the residents. So they’re just renting land. Yep. And and that’s the most popular strategy.
00:16:40:19 – 00:16:58:04
Rod
But because, you know, if you own the if you own the home, you know, those things aren’t made that will break down and depreciate. Talking about the toughest demographic probably that rents right now. And so they’re not easy on them either. And they have no pride of ownership if they don’t own as well. So you have that component.
00:16:58:11 – 00:17:01:18
Rod
So tell me how you get around all of those issues.
00:17:01:20 – 00:17:18:25
Carson
Well, we actually try and buy value at. So we’re looking at leads to cash flow day one okay. We’re not buying on equity long term. But that does happen. We want to make sure we’re getting these things at the right price. So okay a lot of these as you will know rod are not managed properly. So they’re just back of the napkin kind of stuff.
00:17:19:02 – 00:17:34:17
Carson
So we’re buying them typically in the teens cap rate. So okay we’re getting value there I think. And then obviously they come with inherent problems. So what we try and do is stabilize the property. Then once we get it stabilized we then go to the tenants assuming we don’t have a lot that are in.
00:17:34:17 – 00:17:35:12
Rod
So you convert them.
00:17:35:17 – 00:17:36:09
Carson
We try to then.
00:17:36:09 – 00:17:51:21
Rod
You try to sell them the home. You good good good. See you’re doing the model. That’s right. You just it just doing a little slower maybe than some of these larger operators that pop in and immediately put everything up for sale. Okay. Got it. Okay. Yeah. Because that is that is the the most successful I think and profitable model is to is to convert them.
00:17:51:21 – 00:18:06:23
Rod
And and basically you can sell them the home and they make payments on the home. And they could be paying the same amount of money to you monthly as if it were if, if you owned it. Right. Maybe. But you they might even be paying a little more when you sell it to them, and you’re basically loaning them the money to, to to buy that home.
00:18:06:26 – 00:18:15:21
Rod
So they’re paying you a lot rent plus the home price paid, you know, amortized. And so it could be about the same amount of money. But then they have pride of ownership like they hey.
00:18:15:22 – 00:18:17:07
Carson
They take care of the property, take care of it better.
00:18:17:07 – 00:18:18:01
Rod
Yeah, of course they do.
00:18:18:01 – 00:18:27:08
Carson
Yeah. And then what’s interesting about that on the back side right, is a lot of them when they have to move, we have a right of first refusal to buy it back. Right. So then we can get the property back and then do it again.
00:18:27:14 – 00:18:28:21
Rod
Get the get the home.
00:18:28:21 – 00:18:29:17
Carson
Back home.
00:18:29:17 – 00:18:52:00
Rod
Back on the on the on in the mobile home park. So, so you were completely self-taught in this. You didn’t, like, do any courses or anything like this? This is all. So you just went to Rias and talked to people. It’s a great way to learn. You know, I tell my warriors, my coaching students, getting connected with other warriors and building relationships is more important than learning the business and going suffering through my course that they get access to.
00:18:52:03 – 00:19:15:06
Rod
You know, it’s more important that they make connections and like, are you serious? Yeah. I’m like, yeah, that’s more important than learning right now is those connections. So you just did it, organically. So, talk about some of the, some of the seminars, you know, I call them. Sure. Talk about some of the seminars or failures or setbacks or you got your butt kicked on some of these deals because everybody’s got them.
00:19:15:06 – 00:19:15:21
Rod
We do this.
00:19:15:23 – 00:19:32:28
Carson
We’ve got them. Some of them weren’t as painful as I’ve heard that. Right. They had their own own pain levels. my first one I mentioned to you a little while ago, the one where I, the wholesale deal turned into a flip. So we were trying to move through it. We did not do a termite inspection, and the crawl space was accessible on one side of the house.
00:19:33:04 – 00:19:55:15
Carson
But as you went to the other side, it got too narrow. And you, either one of us wanted to crawl up in there, right? It turns out there was termite damage that that that compromised the, the substructure of the home and a lot of the floorboards and stuff. And so we wound up having a about another $10,000 that we didn’t expect to spend that we had to deal with, because the termite inspection, which we did not do on the front end, came up negative.
00:19:55:17 – 00:19:59:05
Rod
Okay. There’s there’s there’s seminar number one, a termite inspection.
00:19:59:08 – 00:20:03:14
Carson
So we’ve always just self you know, we’ve done all of our own, due.
00:20:03:14 – 00:20:36:26
Rod
Diligence. Oh you do your own termite inspection okay. That’s fantastic. Now let me let me say something else, guys. Because you know, in in our world you will do seller finance deals. And now lender will always require a termite, but they’ll also always require a phase one environmental report. I’m going to tell you, even if you’re doing a seller finance deal and they’re not requiring either of those things, you should always do them because especially the the phase one, if you buy a property that at one time could have been 50 years ago, was it was, you know, a gas station or a dry cleaner or whatever.
00:20:37:03 – 00:20:56:29
Rod
You know, I don’t care if you just bought that property yesterday and they find something that’s dangerous. EPA find something you’re paying for. It doesn’t matter if you just bought the property. So, yeah, you always should do those two things. Now you can inspect yourself for termites. Sure. That’s not rocket science. I tell the story. Fixing it can be rocket science because I tell a story.
00:20:56:29 – 00:21:10:08
Rod
I have a guest house here, and I have this beautiful tree behind the guest house. And I saw termites coming out of the door in the guest house. When I sit in my patio. So I’m like, okay, I can fix this. So we dug a trench all the way around this thing, and I poured the termite solution. I killed this beautiful tree.
00:21:10:11 – 00:21:19:22
Rod
Yeah. So anyway, I digress, but anyway. So so, okay, so that was the first one I’m talk about another one because I know you’ve got that. You’ve got that Facebook group with seminars and failures on there.
00:21:19:22 – 00:21:39:03
Carson
Right. So another one was we so I had the termite issue, but we had a property. We just got out of lab about a year and a half ago, and we had a lot of issues with our contractor during Covid, and it delayed us and delayed us and delayed us. And one of the problems you run into is understanding when you need to order material.
00:21:39:06 – 00:21:58:11
Carson
So doors and windows take longer, I guess, than most other products. Yeah, right. And we didn’t see that and we ordered our doors too late. And what happened is it held up our flooring and everything else it needed to go in because all of our door jambs needed to go in. And it was a real headache and it pushed us back too much.
00:21:58:14 – 00:22:16:09
Carson
And what happened as a result of that is the market shifted. We were hoping to get in the market like in June. We didn’t get on the market till August, and when that happened, the interest rates were up, the craze and the industry was down, and we lost probably 2 to $300,000 worth of potential equity. We still made money on the house, right?
00:22:16:09 – 00:22:20:24
Carson
But it was not smart on our part. We should have thought that through a little bit better.
00:22:20:24 – 00:22:38:19
Rod
Just the sequence of the of the construction. Yeah. I mean, guys, if you’re going to do a rehab like that, by God, you better have a GC helping you or somebody that’s done it before that knows these things because, you know, if you know and you’ll see, you’ll see some of these guys that will come in a remodel, come in and they won’t do the sequence right.
00:22:38:19 – 00:22:59:02
Rod
Like they’ll, they’ll, they’ll paint after the floors are in or they’ll paint after the new light fixtures are and they get paint all over everything. And that’s very common. So it’s got to be sequenced properly. And yeah, certainly material purchasing is another big thing. So as you as you’re going through this, this evolution that you went through in the business, talk about some epiphanies that you had.
00:22:59:02 – 00:23:03:08
Rod
Talk about some moments. You’re like, okay, yeah, now I know what I need to do.
00:23:03:10 – 00:23:22:16
Carson
So we were just talking before the show that once you realize you need to hire somebody, you might not have the financial means to do it, but if you’re recognizing that fact, you need to do it. And I didn’t recognize that I was hesitant to do so. I was fearful that how am I going to pay somebody to join my team when I don’t have the new business to get there?
00:23:22:16 – 00:23:24:12
Carson
But I need the new person on my team to.
00:23:24:14 – 00:23:28:22
Rod
Get the new business right. It’s the it’s the cart and the horse. Yeah, exactly.
00:23:28:25 – 00:23:33:15
Carson
So I now am not fearful. I don’t let fear hold me back in anything.
00:23:33:16 – 00:23:35:24
Rod
Let’s talk about fear for a minute. You told me you were fearful.
00:23:35:25 – 00:23:36:20
Carson
Before I was scared.
00:23:36:20 – 00:23:48:08
Rod
You first got into this business. You had that. You had that W-2 job. Bills were being paid, but not great. But I mean, you didn’t love. You were traveling a lot. How’d you push through the fear?
00:23:48:10 – 00:24:07:12
Carson
My wife. A lot of prayer. My wife gave me a lot of support, which I to this day, she still does, and I think. And now she’s been listening to your podcast as well. So she’s given me a lot of positive feedback. You see it through different eyes. It’s great. But she’s been very supportive. So I push through because, you know, you always talk about you like, what’s her name?
00:24:07:14 – 00:24:08:09
Carson
Her name is Elizabeth.
00:24:08:14 – 00:24:11:10
Rod
Elizabeth, thank you for pushing him. Okay. Great job.
00:24:11:17 – 00:24:26:26
Carson
But you know, through a lot of prayer as well. We we really we’re trying to think where we need to be because our family is my why. We talk about that a lot, you know, why are we doing this? And I love real estate. I just loved it. I’ve always loved it and I wanted to do it. And so once I got that first deal, I said, you know, I can do this.
00:24:26:26 – 00:24:28:29
Carson
It’s just a matter of adding a zero at the end, or.
00:24:28:29 – 00:24:51:23
Rod
You just realized it by doing it. Yeah. And you and you know, it really. We call it a courage muscle. You know, everybody, everybody that’s sat in that couch started with a house or a duplex. I mean, very few exceptions. I can maybe think of 1 or 2 that went right to 100 unit complex. It’s very unusual. We have that courage muscle and you know, and I see it with my students as well when they’re going after a large deal.
00:24:51:23 – 00:25:06:29
Rod
The law of the first deal, it’s the scariest. It takes the longest, it’s the most stressful. And then they get one. Next thing I know they have 3 or 4. I’m like, what the hell just happened? Because it’s all psychological, right? But, so what do you think? You know, and so you’re in acquisition mode now. You want to start doing some larger deals.
00:25:06:29 – 00:25:24:27
Rod
You just took down a 14 unit, maybe want to go bigger. what do you think is the most challenging part of your of of what you’re doing right now? What do you think’s the most challenging and maybe the least, fun? And then I want you. I want you to tell me what you enjoy the most as well.
00:25:24:27 – 00:25:26:13
Rod
Well, let’s start with the challenging first.
00:25:26:13 – 00:25:48:13
Carson
So the challenging thing right now is deal acquisition that I’m doing, which I’m responsible for, coupled with operations. We self self-manage and we’re able to do that effectively and save some money. But I’m finding myself spending a lot more time on operations because we’re building our team up, getting more proficient. So we’ve been focusing this year on operational efficiencies, which we’re getting better at.
00:25:48:15 – 00:26:11:08
Carson
And so knowing now that we want to scale up to larger properties, we need to be more effective so we don’t make larger mistakes, especially as we’re changing from mobile homes into apartments, into better asset classes. There’s less margin for error because your cap rates are a little bit lower and you’ve got a lot more moving parts, typically because you’ve got singular roof structures under multiple tenants or over multiple tenants.
00:26:11:08 – 00:26:25:25
Carson
So I find it challenging right now to distance myself from the operations, but at the same time improve the operations. But then the analytics of these deals are a little bit more in-depth. From all the due diligence to the numbers, we have a good IRR.
00:26:25:27 – 00:26:27:14
Rod
Analytical person on your team.
00:26:27:17 – 00:26:28:17
Carson
That’s me.
00:26:28:19 – 00:26:29:00
Rod
That’s you.
00:26:29:00 – 00:26:32:12
Carson
Well, in my other partner I’ve got I got two partners and we’re pretty good.
00:26:32:18 – 00:26:50:20
Rod
I mean I mean you’re the mouthpiece. I can see that right now. Right. You’re a great communicator like me, but I’ve partnered with a CPA and super analytical people on my team to to get through it, because it’s not me. I can read a spreadsheet. I don’t like it at all. You know them. You can throw in a in a room with a spreadsheet, throw raw meat in once they’re happy.
00:26:50:20 – 00:26:52:29
Carson
You know, we’ve got a partner on our team that he’s really good.
00:26:52:29 – 00:27:16:26
Rod
Okay, good. Because you got to have that. I mean, this this business primarily empirical. It’s primarily numbers. You get the numbers right. You ask all the right questions. Pretty hard to make a major mistake. But, okay. So, so that’s your least favorite part is, is dealing is, is, is handling the operations while you’re handling acquisitions, by the way back to back to something you said you, you were afraid to hire somebody.
00:27:16:26 – 00:27:18:13
Rod
What was your first hire? I’m just curious.
00:27:18:17 – 00:27:21:24
Carson
So we hired basically an assistant to run our operations.
00:27:21:26 – 00:27:43:25
Rod
That’s what I thought you were going to say. Guys, I get this question all the time from my students. I get it from people that listen to the podcast. You know what? What should be my first hire? It’s always an executive or virtual assistant. Somebody, somebody to help you with. I mean, listen, I love to ride my lawnmower around on my lawn and and and and and and do stuff with my hands.
00:27:43:25 – 00:28:00:10
Rod
But it’s not the best use of my time, right? Yeah. Swinging a hammer is not the best use of my time. And so, you know, you’ve you’ve got to look at the things that you do. And if you can leverage those things to an assistant or a virtual assistant or an executive assistant or personal assistant or whatever, that is usually always the best first hire.
00:28:00:10 – 00:28:01:20
Carson
And she was also a real estate agent.
00:28:01:20 – 00:28:16:20
Rod
Well, perfect. Perfect. There you go. Boom. Okay, so so, you know, I, you know, I have a lot of listeners that want to do this, and I’m so grateful you for you coming all the way down here to do this. Brother. I really appreciate that. Yeah. Where your heart’s at in the why? For you to come here.
00:28:16:20 – 00:28:35:06
Rod
Because. Very unusual. Usually people want something and and so, you know, speak to the those listeners that like you, we’re just getting started haven’t, haven’t done a lot yet. Maybe you’ve done a house or two. give them some words of encouragement and or you know what? Just what would you say to them?
00:28:35:09 – 00:28:57:15
Carson
Have a purpose. What are you doing it for? I love deal architecture, I enjoy it. Yeah. I find this do fun, and I don’t find myself working until I get into the operations. That’s a little bit of work, right? It can be stressful, but the deal architecture, analyzing deals, putting together contracts, structuring creative acquisition strategies, I love that.
00:28:57:18 – 00:29:01:05
Carson
And what that’s done for my family is created a mentality.
00:29:01:07 – 00:29:03:12
Rod
And are you kids work at it?
00:29:03:14 – 00:29:24:01
Carson
My son older son sees the value in having passive income. He just turned 18, okay. And my younger son really loves the business and he’s the the other sales guy. He’s gonna probably get into it as well. So they’ve got the fever. It’s just a matter of cultivating that the right way. But we have a thing in our family we call the real life the real estate investing life.
00:29:24:03 – 00:29:44:07
Carson
And that’s the name of my boat. I put my life on my boat, on my wave runners. It’s my it’s like actually my network at my home. So it’s a mentality. It’s, hey, we have the autonomy now to do the things we want to do as a family. We can travel, we could spend time together. We can do the things we want on our schedule.
00:29:44:07 – 00:30:02:15
Carson
For the most part, and it’s just going to get better and better as we scale up. But at the same time, we’re helping other people, whether it be my tenants in the homes, providing them a good place to live or whether it’s other investors that we’re able to give knowledge to. Because you mentioned a little while ago, I did it on my own to some degree, yes, but I had a lot of people that influenced me.
00:30:02:15 – 00:30:16:11
Carson
They gave me the right direction and the right words of wisdom at the right time to help get there. And I learned from them. And I say this all the time. I learn from people that have forgotten more than I know because I surround myself with people like that.
00:30:16:13 – 00:30:32:27
Rod
If you want, if you want to play tennis, do you want to play someone better than you were? Worse than you? I mean, hello, right? I formed a mastermind is really the largest in the world of multifamily investors. Pray about 4045 billion in assets in there. I kind of slowed down on it because it’s just consuming. But I want to be around people to think what I think is hard is easy, right?
00:30:32:27 – 00:30:49:21
Rod
Yeah. So I did the same thing you did. And, you know, I was I sometimes had to pinch myself that I’m leading groups of that have, you know, five, ten, 20,000 apartment units. And right at the time I didn’t have that. And so, you know, I had a lot of imposter syndrome, frankly. But but that’s how you learn Trial by fire.
00:30:49:21 – 00:31:15:21
Rod
You know, when I stand in front of a stage in front of a thousand people, I learn every single time I’m teaching this. And so, you know, but you got to get around it. You got to immerse yourself in it. Which is why the Reia group or meetup groups or whatever are so important. Guys, you got to get around people that want to do this because if nothing else, because of, you know, there’s so many people will default to a peer group that they go to school with or they work with, and those people may not have your best interests at heart.
00:31:15:21 – 00:31:32:23
Rod
They may love you, but they may hold you back out of their own fears, or limiting beliefs or fear of failure or whatever. And sometimes it’s family, right? And I tell you, love your family, but choose your freaking peers, right? So get around people that want more. That’s the reason my warriors, my coaching students kick ass. I mean, they’re over 200,000 units.
00:31:32:23 – 00:31:56:14
Rod
It’s just blows my mind every day. Almost in the in our Facebook group, somebody close in on something is crazy and and all those deals are done between warriors and or for the most part done between warriors and and and so it’s it’s but you got to get around people don’t want more people that will encourage you and validate you and push you and praise you, rather than the ones that will be scared and say, I remember my dad saying, you know, go get a real job.
00:31:56:20 – 00:32:00:21
Rod
You know, he worked at Continental Airlines for 36 years and he got laid off.
00:32:00:21 – 00:32:01:16
Carson
Right? Right.
00:32:01:16 – 00:32:20:00
Rod
So what’s the real job? Right? Sure. You know, and, and and so, you know, my mom was always afraid of it, too, but but she pushed me, but, Yeah. So let me ask you this, as you’ve built these alliances with people because you’ve partnered on some of these deals, obviously that’s a business is it, partner?
00:32:20:00 – 00:32:31:10
Rod
And by the way, guys, if you’re going to think about doing this and get into a partnership, go to rods links.com and download my book about the questions you ask before you get into partnership. Have you had any partnerships fail?
00:32:31:13 – 00:32:32:03
Carson
I have yes.
00:32:32:03 – 00:32:33:07
Rod
Yep. See, we all have.
00:32:33:07 – 00:32:34:21
Carson
It’s the hardest ship to steer. Yeah.
00:32:34:21 – 00:32:49:14
Rod
And it’s partnerships like a marriage. Easy to get into right. And hard to get out of. And I tell my warriors this to my students is like, you know, be careful. Do your homework on someone. Don’t get caught up in the emotion of it. Only do one deal to start. Yeah, everybody if everybody does have is a work ethic in there.
00:32:49:17 – 00:32:53:07
Rod
Yeah, they have integrity and they do what they say they’re going to do. But would you agree with all this?
00:32:53:07 – 00:33:03:09
Carson
Absolutely. Yeah. Yeah I mean people wanted to give me a lot of money. Right. And I said let’s hold off. Let’s walk before we run. Make sure that we can do business together because it could go sideways either way.
00:33:03:09 – 00:33:09:28
Rod
Yeah. And it’s really important. And you also it’s important to trust your gut. If your gut doesn’t feel right, trust it. Would you agree with that?
00:33:09:28 – 00:33:10:14
Carson
Totally.
00:33:10:14 – 00:33:14:20
Rod
Yeah. every time I’ve ignored it, I’ve had my butt handed to me, you know? And so.
00:33:14:22 – 00:33:15:23
Carson
and my wife’s a good.
00:33:15:25 – 00:33:17:24
Rod
Oh, yeah. Women are better at this than she tells me.
00:33:17:24 – 00:33:20:11
Carson
A lot of times. You you you you think about that. I’m not getting a good feeling from them.
00:33:20:11 – 00:33:40:14
Rod
Yeah, yeah, they could feel it. You know, your brain is so powerful. It can pick up on these micro nuances that you’re not consciously aware of. And, and, and it just trust it because it your brain can see it if somebody is not congruent for example. So as you’re building your team now, what does your team consist of now you’ve got some partners.
00:33:40:14 – 00:33:44:27
Rod
You’ve got a you’ve got some admins, you’ve got if you’re doing property management you probably have a couple people. Yeah I do.
00:33:44:27 – 00:34:03:25
Carson
Yes. So we have two partners that we’re all in this together for the most part on the properties we share. I have some properties I own by myself, but then we have two ladies that run all of our operations through different software programs. We’re using rent manager, but we’re shifting over to Door Loop right now and the property management software.
00:34:03:25 – 00:34:20:16
Carson
Right. And then we’ve got a, VA out of India that’s helping us with one of our latest acquisitions, doing a lot of the calling in the follow ups on the, you know, because we got everything through the apps now. So that works really well. And then we’ve got a team of guys that can go from our properties because they’re not necessarily concentrated, but they’re in a decent enough area.
00:34:20:16 – 00:34:24:25
Carson
They’re only 30 minute drive, 40 minute drive, one way or the other. So we got a couple of guys that work.
00:34:24:25 – 00:34:25:20
Rod
For us.
00:34:25:22 – 00:34:41:04
Carson
Pretty much. Yeah, yeah. But then some of the larger properties, like the one I mentioned to you earlier, we’ve got a guy on site that handles that. And then we inherited some people, quite honestly, from some of the acquisitions. We kept him on. And then just, you know, whittled it down a little bit to make sure they were more, in line with what we wanted to do.
00:34:41:07 – 00:34:46:15
Rod
Yeah. That keeping that cellar. What a brilliant idea that was. Yeah. He gets to stay. And you, you own the place. That’s freaking awesome.
00:34:46:15 – 00:34:49:25
Carson
And being my first foray into that business, I didn’t quite know what I was doing.
00:34:49:25 – 00:34:51:08
Rod
Yeah. So that perfect. You know, I.
00:34:51:08 – 00:34:51:19
Carson
Learned a.
00:34:51:19 – 00:35:09:08
Rod
Lot from you. Yeah. That’s fantastic. What a home run. So a win win really. And any time you can do a win win it’s a it’s a home run. So you know knowing what you know. Now if you went back in time to 2017 when you started is there anything you might do differently?
00:35:09:10 – 00:35:29:11
Carson
I think so I, I would probably start off in the multifamily space duplex, just go right in to buy and hold. Yeah, I think the only reason I did the other stuff was just to get name and credibility and I guess out of my fear, knowing that there’s just a zero barrier to entry there, I didn’t have anything to risk, and I knew I could do it with other people’s money, which we have.
00:35:29:14 – 00:35:40:19
Carson
But I didn’t know what risk that posed to me. And what I found was there is risk, but it’s not as what we all think it is. Yeah, and I would have gotten started in the cash flow game a lot sooner than I did.
00:35:40:19 – 00:35:54:09
Rod
Now let me let me talk about credibility for a second because you brought it up a couple of times. I’m gonna tell you this is why, again, a program like my warrior group, and I’m not selling it right now because you can go do this on your own, but is so powerful because there are people in that group and there are people out.
00:35:54:09 – 00:36:05:28
Rod
If you go to Reia meetings, you’ll find people that own 200 doors, 300 doors, 400 doors. And that’s again, that’s the value of getting around people like that, because if you can bring them a deal or bring them money for a deal, you’re in.
00:36:05:28 – 00:36:06:09
Carson
Yeah.
00:36:06:09 – 00:36:23:21
Rod
And you take down your first deal. Yeah. You won’t have the whole thing. Big deal. First of all, I would take ten, 20, 30, 40, 50% of something, over 100% of nothing any day. Number one. But number two, once you’ve taken down a deal or two, even if you only have 10% of it, 20% of it, then it’s on your resume and you have instant credibility.
00:36:23:21 – 00:36:37:29
Rod
But the other thing is, if you align with someone that’s got a few hundred doors, which is how my warriors do it, they go to somebody, say, yeah, and they and they align with them and they agree to work together. They say, yeah, well, we own 500 doors. You use the word and you know, you don’t on them.
00:36:37:29 – 00:36:56:03
Rod
It’s a, it’s the part to working with. But you use the word and you’ve got instant credibility with sellers, with brokers, with investors. That’s how everybody does this. They they start with a sponsor that’s got some units and they or they align and join or start a team, but typically they’ll join a team to do their first deal or two, and they’ve got that instant credibility.
00:36:56:03 – 00:37:01:05
Carson
You mentioned earlier that you get 1 or 2 people, they give you some money.
00:37:01:07 – 00:37:01:24
Rod
Yeah.
00:37:01:26 – 00:37:19:04
Carson
I heard that early on. Hey, all you need is 1 or 2 investors and you’re thinking to yourself, well, they’re going to run out of money. The fact is they may run out of money, but if they made money, they’re going to tell for their friends. And we only have 2 or 3 investors and we’re cranking deals. We’ve got 15 million in assets.
00:37:19:07 – 00:37:38:24
Carson
Yeah. And it comes just from the leverage that we’re doing with banks. But we also have great relationships with our lending partners too. And then we’ve got all the the creative stuff that we’re doing on top of the cash. So it’s just a, it’s a machine that can just be scaled up. And all you’re doing is adding a zero at the end that’s, you know, you just move it from seven figures to eight figures and just keep going.
00:37:38:27 – 00:37:39:18
Carson
Yeah, it’s just a number.
00:37:39:20 – 00:37:59:29
Rod
It’s a little scary on your first one. I will just tell you right now when I was there for your first syndication, you’ll probably call me and freak out. And people do, but you get through it and it’s okay. so let’s talk about networking for a minute, okay? We talked about the fact that you went to all these Rias, and then you even did your own for a while, even though it wasn’t big yellow 15, 20 people at a time.
00:38:00:06 – 00:38:02:04
Rod
What was the benefit of that?
00:38:02:06 – 00:38:06:14
Carson
It was learning the language, because at first I was going to these Rias and I was like I said earlier.
00:38:06:14 – 00:38:07:15
Rod
I didn’t know, just asking.
00:38:07:15 – 00:38:09:26
Carson
Questions. And people were opening up and telling.
00:38:09:26 – 00:38:11:22
Rod
Me what was the advantage on the networking.
00:38:11:24 – 00:38:26:23
Carson
Oh, from the networking side, everybody I met, I get a business card. Right now, it’s all digital, but I might literally get the business card I put them. I’d go back home the next day. I’d put them in a spreadsheet where I met them. So I can always refer back years later and know where they were. And I got their email addresses and I put them on Mailer.
00:38:26:23 – 00:38:46:17
Carson
So at the time when I was wholesaling, I now had investors that would look to buy these deals. Okay. Over time, I got in front of I met my attorney through a Ria. I met, my my accountant through a Ria, all these people that were interested in real estate, insurance guys, all these different people that feed into the collective system of real estate in one shape or another.
00:38:46:20 – 00:38:56:16
Carson
My contractor, I met through another person at a Ria through a referral and it just it kept building and building and building and the value there was it’s you can’t measure it.
00:38:56:20 – 00:38:59:04
Rod
So now you’ve got a few thousand per couple thousand people.
00:38:59:05 – 00:39:14:12
Carson
Yeah, I got a couple thousand people. If I need to wholesale a deal tomorrow. Because, you know, one thing I wanted to do is create multiple streams of income. And just like the stock market goes up and down and different things right now might not be the best time to be wholesaling and flipping, but cash flow has gotten us through the difficult times.
00:39:14:13 – 00:39:23:25
Carson
Yeah, and it’s a huge value if you’ve got that going for you and the ability to do some single family stuff on the side, you’ve got a lot of arrows in your quiver.
00:39:23:27 – 00:39:38:29
Rod
Yeah, no. No question. I mean, this business is a networking business. And that’s why, you know, that’s again that’s that’s why you need to get around people that are doing it and, and and that and you’ll learn that way. You’ll, you’ll, you know, it really is relation. It’s really who you know more than what you know it is.
00:39:39:00 – 00:39:49:10
Rod
And yeah. So what actions would you advise one of my listeners to take right now if they’re thinking about doing this?
00:39:49:12 – 00:39:57:05
Carson
It’s a great question. Find someone that knows more than you and tell them how you can bring value to their system.
00:39:57:07 – 00:39:58:08
Rod
Good. Yeah.
00:39:58:08 – 00:40:16:23
Carson
That’s good because in the long run, you’ll learn. They’ll move something off of their plate unto you that you can do. You know, you’ve got assets, you’ve got talents that they may not have. But you also have a lot of weaknesses. And maybe their strengths will build up your weaknesses. And collectively, you know, we’re all a team in this thing.
00:40:16:23 – 00:40:32:06
Carson
It’s a people business. So go to people that you know are doing and say, what can I do to help your business grow? I have a deal. Maybe you’d like to fund it. I have a deal. Maybe you’d like to flip it. How can I can I manage the property for you? Can I learn the operations? What can you do to help them out?
00:40:32:06 – 00:40:38:16
Carson
And if you can do that, you’ll learn. And then you’ll bring value to somebody’s equation and you’ll be brought into other deals.
00:40:38:18 – 00:40:39:14
Rod
Nice, nice.
00:40:39:16 – 00:40:45:21
Carson
But don’t be afraid. Like you said earlier, don’t be afraid to give up a part of the deal. Even if it’s yours. You’re bringing that to the table. There’s value there.
00:40:45:21 – 00:40:49:11
Rod
Absolutely. No. That’s how you start. That’s how you get going. That’s how everybody starts.
00:40:49:11 – 00:40:50:02
Carson
Yeah.
00:40:50:05 – 00:40:53:12
Rod
Well, I really appreciate you coming down. Thank you. Brother. It’s great to meet you.
00:40:53:15 – 00:40:54:04
Carson
you, my big.
00:40:54:04 – 00:40:57:23
Rod
Heart and, I you’ve added some tremendous value today. Thank you.
00:40:57:23 – 00:40:58:19
Carson
Well, thank you very much.
