He Made $500K Flipping One House

Blog Summary

Fix and Flip Real Estate Investing in Today’s Market

Fix and flip real estate investing remains one of the most powerful ways to generate cash flow and grow wealth, but execution risk often holds investors back. In this episode of Lifetime Cash Flow, Rod Khleif sits down with Lincoln Edwards, a seasoned house flipper and entrepreneur, to unpack what it really takes to succeed in today’s competitive housing market. Lincoln shares how he transitioned from commercial real estate into residential flipping, and how he built a scalable business model around systemized renovations and investor-friendly execution.

From Private Equity to Profitable House Flips

Lincoln began his career in real estate private equity before catching the fix-and-flip bug with a small multifamily property in Austin. That initial experiment quickly turned into a full-scale flipping business, and eventually a popular YouTube brand that documents real renovations in real time. He explains how understanding market cycles, neighborhood trends, and buyer psychology allows investors to uncover hidden value in properties that others overlook, especially in high-growth markets like Austin and Dallas.

The Biggest Wins and Hardest Lessons in Flipping

One of Lincoln’s most profitable deals involved transforming a condemned historic home into two separate units through strategic rezoning and redevelopment. While the renovation itself was impressive, most of the profit came from creative deal structuring rather than construction alone. On the flip side, he shares a costly lesson involving a contractor who mishandled funds, reinforcing the importance of structuring payments properly, verifying work milestones, and protecting capital through disciplined project management.

Fix and Flip Execution at Scale

A major theme of the conversation is how most investors fail not because of bad deals, but because of poor execution. Lincoln introduces his “flipping as a service” model, which helps investors source properties, scope renovations, manage contractors, and execute exits without having to run every detail themselves. By standardizing materials, pricing, and workflows, he reduces risk while targeting returns of approximately 25 percent cash-on-cash, depending on leverage and market conditions.

Key execution strategies discussed include:

• Structuring multiple payment draws tied to milestones

• Holding back final payments until inspections pass

• Cycling capital quickly instead of holding out for maximum price

• Underwriting deals conservatively with flat market assumptions

Navigating Interest Rates and Market Cycles

Rising interest rates and tighter inventory have made deal sourcing more challenging, especially in overheated markets like Austin. Lincoln explains how his team adapts by expanding into new markets, working with investor-sourced deals, and focusing on properties that traditional buyers cannot finance. He emphasizes that while market risk is unavoidable, execution risk can be minimized through systems, data, and disciplined underwriting.

Advice for Investors Ready to Take Action

For those sitting on the fence, Lincoln shares a simple but powerful message: the best time to start was years ago, but the second-best time is now. He stresses that education is important, but real growth only happens through action. Whether an investor is pursuing fix and flip real estate, rentals, or multifamily, consistent execution and long-term vision are what separate successful investors from those who never get started.

About the Guest: Lincoln Edwards

Lincoln Edwards is a real estate investor, entrepreneur, and co-founder of a house flipping platform focused on execution-driven investing. He hosts a popular YouTube channel documenting real renovation projects and teaches investors how to scale fix and flip real estate through systems, data, and disciplined execution. With experience in both commercial and residential real estate, Lincoln brings a unique perspective on building wealth through property transformation.

If you want to hear the full conversation and detailed insights, watch the podcast video or read the complete transcript below.

Fix and Flip Real Estate FAQ

What is fix and flip real estate investing?
Fix and flip real estate investing is a strategy where investors purchase distressed or undervalued properties, renovate them, and sell them for a profit. The goal is to increase the property’s value through strategic improvements and efficient execution. This approach focuses on short-term income rather than long-term rental cash flow.

Why is fix and flip real estate investing attractive to investors?
Fix and flip real estate investing is attractive because it offers the potential for faster returns compared to buy-and-hold strategies. Investors can generate significant profits within months instead of years. It also allows investors to actively control outcomes through renovations and operational decisions.

How does fix and flip real estate investing work?
Investors identify properties with strong upside potential, acquire them below market value, renovate efficiently, and sell at a higher price. Success depends on accurate underwriting, disciplined budgeting, and strong project management. The difference between purchase plus renovation cost and resale price drives profit.

What types of properties are best for fix and flip real estate investing?
The best properties are typically outdated, poorly maintained, or distressed homes in strong neighborhoods. Homes with cosmetic issues, functional obsolescence, or outdated layouts often provide the greatest upside. Stable markets with strong buyer demand improve exit potential.

What are the biggest risks in fix and flip real estate investing?
Major risks include renovation overruns, timeline delays, market shifts, and inaccurate resale assumptions. Contractor issues and permitting delays can also erode profits. These risks are reduced through conservative underwriting, detailed scopes of work, and strong oversight.

How much capital is needed for fix and flip real estate investing?
Capital requirements vary by market and deal size, but investors often need funds for acquisition, renovations, holding costs, and selling expenses. Many investors use private money, hard money, or partnerships to reduce upfront cash outlay. Proper reserves are essential for risk management.

How long does fix and flip real estate investing typically take?
Most fix and flip projects take three to nine months from purchase to resale, depending on renovation scope and market conditions. Larger rehabs or permitting requirements can extend timelines. Faster execution improves annualized returns.

How do investors find profitable fix and flip real estate deals?
Deals are commonly sourced through direct mail, wholesalers, real estate agents, auctions, and off-market outreach. Investors who build strong local networks and data-driven sourcing systems often access better opportunities. Off-market deals tend to offer the strongest margins.

How does fix and flip real estate investing generate profit?
Profit comes from purchasing below market value, renovating efficiently, and selling at a higher price. Investors increase net proceeds by controlling costs, shortening timelines, and optimizing resale pricing. Strong execution is just as important as buying well.

Is fix and flip real estate investing suitable for beginners?
Yes, beginners can succeed by starting small, partnering with experienced operators, or learning through hands-on projects. Education, mentorship, and conservative deal selection reduce risk. Many investors use fix and flip real estate investing as a gateway into broader real estate strategies.

Disclaimer: This summary was written with the help of AI and reviewed by Rod’s Team.

01:20:07:26 – 01:20:25:20
Rod Khleif
Welcome back to life time cash flow through real estate investing. I’m Rod Khleif and I’m thrilled that you’re here. And we’ve got a unique guest today. His name is Lincoln Edwards. And, Lincoln, hosts Austin flip STRs. And so they, they flip houses, right now in Austin and in Dallas. And you’re in Dallas now, right?

01:20:25:24 – 01:20:28:00
Rod Khleif
That’s right. Oh, so awesome. Welcome to the show, bro. Yeah.

01:20:28:00 – 01:20:28:23
Lincoln Edwards
Thanks for having me on.

01:20:28:23 – 01:20:42:06
Rod Khleif
Yeah. So, we started talking before we started recording, and you, got an MBA at Harvard. Cool as hell, you know, very fancy schmancy stuff from a guy that didn’t even go to college. But actually, my dad used to teach there, so.

01:20:42:09 – 01:20:44:03
Lincoln Edwards
Oh, is that right? Yeah, yeah, at the business school?

01:20:44:09 – 01:21:03:13
Rod Khleif
Yeah. No, no, no. Sociology. Okay. Yeah. But, anyway, Yeah. So, you have a YouTube channel, a pretty significant YouTube channel. You show people how to flip, and you’ve got a pretty cool business model as well we’re going to dig into. So why don’t you, give us a little of your backstory? I stole a little bit of it there, but no.

01:21:03:13 – 01:21:19:06
Lincoln Edwards
Yeah. All good, as you mentioned it. Yeah. I, stumbled into real estate sort of backwards coming out of business school. I really wanted to get into private equity and, found a job at, a real estate private equity shop, and I thought, well, how much difference is there, really? You know, quite a bit, as it turns out.

01:21:19:06 – 01:21:36:18
Lincoln Edwards
But, you know, cut my teeth kind of learning, commercial real estate and then eventually went out on my own and started doing, I started with multifamily. I thought I would sort of, work in that space. Bought a little 12 unit, building, and then kind of got the bug for fix and flip on a whim.

01:21:36:20 – 01:21:40:21
Lincoln Edwards
Did a project just to sort of see if I could. I went, well, did another one. And in.

01:21:40:21 – 01:21:41:04
Rod Khleif
Austin.

01:21:41:10 – 01:22:04:12
Lincoln Edwards
Yeah, all in Austin. And then, you know, about, 2018 partnered up with an old college friend of mine, named Lorne Ahrens and created this sort of social media brand around, house flipping. I was really getting into sort of the YouTube rabbit hole and realized nobody was sort of porting over, this concept of HGTV onto YouTube.

01:22:04:15 – 01:22:26:11
Lincoln Edwards
And really, you know, YouTube was basically becoming defacto TV. Yeah. Well, at, for, for a newer generation, people are taking concepts like ESPN, putting them over there. And HGTV was like the second biggest, cable network, at the time. And nobody was doing it on YouTube. So I thought, well, why not us? And there’s, there’s a lot to building that out as it turns out.

01:22:26:13 – 01:22:34:15
Lincoln Edwards
But but basically talked her into creating our brand. You know, Austin focuses on YouTube and yeah started building that in in 2018.

01:22:34:15 – 01:22:36:20
Rod Khleif
And oh wow. Yeah I’ve been doing it a while.

01:22:36:21 – 01:22:39:05
Lincoln Edwards
Been working on it. Yeah. For for a few years now.

01:22:39:10 – 01:22:54:14
Rod Khleif
So, so you, you, I mean, just let’s talk about the show for a minute just so people can an idea. I mean, is it like the flipping stuff you see on HGTV where, you know, you go in, you look at the house, it’s all crappy, and you fix it up and then flip it.

01:22:54:14 – 01:23:20:11
Lincoln Edwards
Yeah. It’s basically that. Yeah, we we take our projects that we’re already going to do. Obviously we, we come in, we critique and we tour them. We kind of put together a plan for what we’re going to do and then take you along for that journey. And the twist, you know, really is in the age of social media, we can be doing this stuff real time and let audiences interact or vote on material choices, you know, on our Instagram channel in real time so you don’t have to wait for the episode to come out, and try to make it interactive in that way.

01:23:20:12 – 01:23:21:05
Lincoln Edwards
Oh that’s smart.

01:23:21:05 – 01:23:25:04
Rod Khleif
Yeah, exactly. They can pick the colors. They can pick all the the.

01:23:25:06 – 01:23:29:23
Lincoln Edwards
Yeah, yeah, yeah. To some extent, you know, it’s always some choices where, okay, when you have either way purple.

01:23:29:23 – 01:23:31:05
Rod Khleif
Is not going to work there I’m sorry.

01:23:31:05 – 01:23:31:29
Lincoln Edwards
Right okay.

01:23:31:29 – 01:23:32:21
Rod Khleif
It’s funny.

01:23:32:28 – 01:23:37:22
Lincoln Edwards
Yeah that’s awesome. Yeah. And then you get the big payoff at the end. You know you get to kind of see the thing fully made over.

01:23:37:22 – 01:23:57:09
Rod Khleif
Oh that’s cool. You’ve been flipping houses and you created this channel around, flipping to show people how it’s done. Called Austin Flip STRs on YouTube and, Tom tell talk about your your biggest win in the flipping in the flip flipping space and then I’m, you know, I’m going to go to the flip side, the biggest seminar.

01:23:57:09 – 01:23:58:03
Rod Khleif
You know. Com seminar.

01:23:58:03 – 01:23:59:10
Lincoln Edwards
Yeah yeah yeah yeah yeah.

01:23:59:11 – 01:24:01:00
Rod Khleif
Talk about your biggest win.

01:24:01:02 – 01:24:06:22
Lincoln Edwards
Well in the for the actual real estate, you know, the biggest win in real estate in the biggest win on the media are complete opposite.

01:24:06:22 – 01:24:08:08
Rod Khleif
Okay. Right. Well real estate’s.

01:24:08:08 – 01:24:26:27
Lincoln Edwards
What I was. Yeah. Exactly. So, so on the real estate side, you know, our biggest win, was a historic house that was built in 1938, in Austin, sort of just south of downtown in Travis Heights was just like a primo real estate area. And it was actually condemned the property was.

01:24:26:29 – 01:24:29:05
Rod Khleif
I think you had to deal with a lot of stuff there then.

01:24:29:05 – 01:25:01:00
Lincoln Edwards
Yeah, exactly, exactly. And I, you know, we were a bit crazy to think we could bring it back, but the reason I did it is it sat on a corner lot and that main house is up front, but it had this sort of carriage house. Yeah. Exactly. And they turned this into a little duplex in the back and hadn’t been properly permit and all this, but the idea was, you know, if we could split that lot or actually condo ize it, we could sell off that back unit once it was sort of, you know, brought up to, to snuff and then make over the front unit to be, you know, the full

01:25:01:00 – 01:25:01:26
Lincoln Edwards
transformation back to.

01:25:01:26 – 01:25:02:23
Rod Khleif
The way it was.

01:25:02:25 – 01:25:25:00
Lincoln Edwards
Exactly. So really, the value in that deal, you know, I think we bought it for $750,000 both. And then we put in, gosh, maybe 500,000 into the thing and sold it for, well, it must have been a little bit less than that. We made about half $1 million on it, and so. So we sold it for one and a half, 1.6, something like that.

01:25:25:06 – 01:25:42:27
Lincoln Edwards
And really the, the what I loved about that play is that really it was all the real value that we drove was just a condo regime. And, and the insight to say, hey, we can separate out this back unit. And basically we ended up selling the back unit for about 500. So we, we really broke even on that front house.

01:25:42:27 – 01:25:46:26
Lincoln Edwards
And it was you know, it was a gorgeous transformation. Sure. But all the money was made on the back. Sure.

01:25:46:27 – 01:26:08:23
Rod Khleif
You know, some of my most successful warriors, my coaching students are the ones that can take a look at something and see what it could be and or, you know, really think outside the box, like, you know, I’ve got a lot of, a lot of them doing, you know, land projects where they’ll buy a little self storage piece that’s got more land, and then they expand the self storage, or they build a retail component or they, you know, mixed use things of that nature.

01:26:08:23 – 01:26:26:08
Rod Khleif
It’s really cool to see some of the creativity that they’re coming up with. So you looked at this and you saw you saw possibility I love it. You know, it’s funny, in Denver, I had 500 houses in Denver at one time, and I probably had 30 or 40 antebellum houses that were pre what is it? Two 1900.

01:26:26:08 – 01:26:36:19
Rod Khleif
And I had built in 1900 or right around there and, yeah, they were they were challenging, you know, the windows with the ropes and the weights and all that. Did you have all that in that place? Yeah.

01:26:36:21 – 01:26:47:06
Lincoln Edwards
Yeah. It was, you know, it was crazy, too, because it was half pier and beam foundation and half slab. Oh, it had been cobbled together over the years and. Wow. Yeah. You know, of course you you’ve.

01:26:47:06 – 01:26:58:03
Rod Khleif
Probably enhanced, actually, because it probably slipped a little bit the, the, you know, typically they’ll put the pier and beam in when things start to look shaky. I mean, so those old foundations were brick. Yeah. You know, they just have bricks stacked up.

01:26:58:03 – 01:27:17:12
Lincoln Edwards
Exactly. Yeah, yeah. And honestly, it is, you know. Yes. For the biggest it was the biggest financial win but is definitely not what I would say needs to be your bread and butter a fix and flip. Because it was so much work. It was so unlike sort of the singles and doubles that, you know, a lot of people make money on fixing flips, but it’s just one of these projects that calls to you.

01:27:17:12 – 01:27:18:09
Lincoln Edwards
You see that vision?

01:27:18:12 – 01:27:36:19
Rod Khleif
Was that what it was? Yeah. That’s cool, that’s cool. Yeah. Those, those that’s like a passion project. But you know, I remember some of those old clawfoot tubs and, and fireplaces that were just gorgeous with, you know, the mantles with the pillars and stuff and just beautiful, beautiful stuff that. And now that, you know, it’s funny, I could just.

01:27:36:19 – 01:27:55:05
Rod Khleif
And I’ll stop talking here in a minute, but but I could buy whole blocks in downtown Denver for $20,000 a house. And they’re now well in the millions. These are big giant three, you know, three story homes that they’ve complete completely. Yeah. What a could have should, you know, if you can get in front of an area that’s gentrifying.

01:27:55:08 – 01:28:13:24
Rod Khleif
Boom. But but it takes cajones because, you know, you’re going to deal with drugs and crime and everything until things shift. But you start seeing the, you know, the the coffee shops come in and you start seeing some of that stuff, the arts, the artsy art studios and stuff. So talk about a seminar, talk about a setback in your flipping business.

01:28:13:24 – 01:28:16:06
Rod Khleif
Talk about, you know, a lesson. Yeah.

01:28:16:14 – 01:28:17:02
Lincoln Edwards
Yeah, totally.

01:28:17:02 – 01:28:19:02
Rod Khleif
I’m everybody’s got lots of them. But pick up, pick.

01:28:19:02 – 01:28:49:16
Lincoln Edwards
And do it. You know, I think in this business, one of the biggest lessons I learned was with who you work with. Right. So definitely biggest sort of setback and learning that I’ve had is with basically a business partner that was a contractor that I, you know, trusted with several projects and basically was playing a shell game with, with funds and trying to trying to basically keep his business alive by taking on more and more projects until the his house of cards sort of collapsed.

01:28:49:16 – 01:29:12:02
Lincoln Edwards
And, you know, I was unfortunately, the bag holder on several of of those projects where I had to come in and pay for some renovations twice, basically. And yeah, there was a it was a huge lesson learned for me. And, and this was a person that, like I said, I, you know, I trusted and, and had done several deals with and sometimes you just you never know what’s going on behind the scenes.

01:29:12:02 – 01:29:15:03
Lincoln Edwards
And, you know, everybody, unfortunately not not everybody.

01:29:15:06 – 01:29:32:15
Rod Khleif
But if you’re I’m dealing with the exact same thing right now. So, you know, I feel, you know, the lesson there is, you know, I think because I’ve had the same thing happen where I just, you know, you get you start to trust someone and you, you can’t just trust you. You got to trust but verify as well.

01:29:32:15 – 01:29:36:20
Rod Khleif
That’s the piece. That’s the missing piece. Was that the missing piece in your case? It wasn’t mine for sure.

01:29:36:21 – 01:29:55:02
Lincoln Edwards
100%. Yeah. And I’m just like you, you know, somebody, you know, gives me their word. The word is their bond, and I believe them. Yeah, but you know, what I’ve I’ve shifted to now is not. I don’t think you can do business if your M.O. is. Well, I don’t trust anybody, or I have to make deals. So understand complicated.

01:29:55:07 – 01:30:16:13
Lincoln Edwards
But, you know, I think there are some very simple deal mechanics that sort of are, you know, a stopgap from from things like that happening. And it’s simple stuff about, you know, structuring, let’s say, you know, more, payment milestones and a deal more draws, more payment milestones rather than less. I mean, you know, people get annoyed with that.

01:30:16:13 – 01:30:36:01
Lincoln Edwards
Well why do I, you know, I want to be cutting checks all the time or it’s more of a hassle. I’d like to just write one big check at the end when it’s done, you know. And then the reality is that just increases that exposure. Right. So if we can dial that back, you know, and I’ve had this happen on, on stuff that was sort of like less nefarious.

01:30:36:01 – 01:30:39:23
Lincoln Edwards
But, you know, I’ve had contractors that have literally died in the middle of a project and.

01:30:39:23 – 01:30:40:11
Rod Khleif
Well.

01:30:40:14 – 01:30:48:17
Lincoln Edwards
Yeah. And it’s like, well, wow, how much money do I have out to that person? Because you know, that’s that money is never coming back.

01:30:48:17 – 01:31:03:14
Rod Khleif
Gone. Yeah. No. You know, one thing that I try to teach my students is, is, is try not to get ahead of people very far. Just, just, you know, pay as the work is done. Now, sometimes some of these operators need a little money for material and whatnot. I’ve even gone and bought the material sometimes. So here’s the material.

01:31:03:14 – 01:31:30:16
Rod Khleif
Instead of giving them the cash. You know, back in the day when I really couldn’t afford to have a loss, but, interesting. So in the flipping business, you the contract is, is probably one of the biggest, shaky areas that you really got to button down, do you? By the way, when you do a contract, besides, now that you’re doing multiple draws just to protect how much money you put out, do you also put time limits on on the work?

01:31:30:16 – 01:31:34:26
Rod Khleif
And do you do you penalize them if the work’s not done in a time limit? Just curious.

01:31:34:28 – 01:31:57:13
Lincoln Edwards
Yeah. You know, I’ve tried that. And a lot of people will swear by it. But, you know, I find it simpler to just cut that contractor loose, right? Yeah. Because there are, you know, there are things that happen that are within somebody’s control versus not. So, you know, we’re redoing a foundation. We’ve got we’ve had a ton of rain that’s going to push back everybody’s timelines.

01:31:57:15 – 01:32:21:06
Lincoln Edwards
Fair enough. So so what I find easier is, hey, look, a reasonable deposit payment milestones. Hold back something at the end so that you got to pass your permitting, pass your inspections so that you’ve got some incentive to come back. And then if I go to fire you mid project, I don’t have too much exposure. And if you’re the bottleneck to this whole thing, well, it was a pleasure doing business with you on one and never again.

01:32:21:06 – 01:32:34:01
Lincoln Edwards
And with, you know, residential. It’s not one huge project where, you know. Right. You can get away with giving somebody, you know, a project if it doesn’t work out and you don’t have too much exposure on that one. Yeah, you can cut them loose and find.

01:32:34:01 – 01:32:51:09
Rod Khleif
Sure, sure, sure. Well, I’m you saw the mess out in my compound here. I’m dealing with that right now with a contractor. And I don’t even think to put a time limit on the thing, but, you know, they’re, they’re I, I sent them a scathing text this this morning, like the, you know, we we’ll start your job and we won’t leave till it’s done.

01:32:51:09 – 01:32:53:14
Rod Khleif
Well, your house hasn’t been here in four days.

01:32:53:16 – 01:33:05:12
Lincoln Edwards
Yeah. That’s why I find the having having the incentives set up right where, you know, they want to be here because I got a whole lot of money that they’re waiting on. It’s just it’s a better use the carrot than to stick it in, like.

01:33:05:17 – 01:33:22:28
Rod Khleif
Oh, I don’t disagree. The problem is, they already got the carrot. They’ve eaten the carrot. That’s the problem. They got their second draw when they delivered the pavers. Exactly. So so talk about, homemade homemade TKO. So that’s, that’s your done for you flipping. Yes. Yeah. Yeah. Right. I want to hear about it.

01:33:23:00 – 01:33:50:22
Lincoln Edwards
Yeah. So you know, the idea is I don’t I don’t know if you’ve ever, you know, saw anything online. There’s, there’s sort of Amazon you can go buy on Amazon and then there’s Shopify. That basically empowers individual sellers to sell online. So the idea behind homemade is really to empower individual fix and flippers, individual investors to get into the, you know, the home renovation space to do fixing flips for themselves to compete with the 800 pound gorillas in the room.

01:33:50:24 – 01:33:52:16
Lincoln Edwards
It’s basically flipping as a service.

01:33:52:16 – 01:33:54:19
Rod Khleif
Are there 800 pound gorillas in the room?

01:33:54:22 – 01:33:55:26
Lincoln Edwards
Yeah. Yeah. Really? Yeah.

01:33:55:26 – 01:33:56:26
Rod Khleif
Oh, yeah. In business?

01:33:56:28 – 01:34:13:09
Lincoln Edwards
Yeah, yeah. You know, there’s the Amherst sphere, threes of the world. You know, people that are that have, you know, put together a huge pile of capital and that are doing it on and, and, you know, for the, for 60% of fix and flips, they’re done by first or second timers. Right.

01:34:13:09 – 01:34:15:29
Rod Khleif
That’s why I asked. Yeah, exactly. Assumed it was even more than that. Okay.

01:34:16:02 – 01:34:35:28
Lincoln Edwards
Yeah. And it may well be, but you know, it’s the and there just aren’t tons of sort of, institutional grade tools platforms for those folks to use. And a lot of it is basically repeating the exact same errors that the last guy did when he did it and his didn’t work out. Well, you know, maybe this time will be different.

01:34:36:01 – 01:34:59:27
Lincoln Edwards
But it’s flipping as a service. So we’re basically, you know, we’re identifying projects for, for people to take down. We’re scoping them. We’ve, we’ve got sort of, think of like a fast food menu of, of material selection. So do you want the number one? The number two. Swear you’re not picking the fifth faucet in the last bathroom or whatever, so that we can also then kind of copy and paste that to our flips.

01:34:59:29 – 01:35:17:28
Lincoln Edwards
And then we execute that as the general contractor for, for our clients at home. And then we work on an exit plan for them. So there might be as a sale that might be a long term rental or even as a short term rental or, you know, whatever they want to do with it, basically. But yeah, we do it sort of turnkey that way.

01:35:18:04 – 01:35:38:26
Lincoln Edwards
You’re not, you know, a lot of the fixing and flipping, world has a sort of disjointed feel where you work with your buyer’s agent to find the property, but then you know they’re not there with you on the construction of it or, you know, does the renovation of it really make sense? They’re they’ve they’ve got their check in there gone versus we sort of make money all along that value chain by helping at each step.

01:35:38:26 – 01:36:02:10
Lincoln Edwards
But it makes the the overall project a lot more cohesive and really eliminates or reduces the execution risk of of, you know, the fix and flip switch, which is basically what what most people get tripped up on. It’s not running the numbers or, you know, looking at comps, it’s it’s the the blocking and tackling of actually getting the thing an appropriate scope for an appropriate price to where you can hit those back in comps.

01:36:02:10 – 01:36:03:04
Lincoln Edwards
Right.

01:36:03:06 – 01:36:18:18
Rod Khleif
Well, I’m going to I’m going to ask you some detailed questions on this, if that’s okay. So, so, are you looking for clients that are just in a lot of cash, or are they going to secure financing as well?

01:36:18:20 – 01:36:45:29
Lincoln Edwards
So we do both. So if you want to do it all cash, obviously you can and I should say it’s not an investment vehicle. So we take no economics in the property itself. And our clients buy them directly. So, so they can do whatever they want with them. But we have preferred, financing partners that that underwrite and put terms attached to the deal in the scope that we propose that we put out to the, to the, to the clients to say, here’s a project, here’s the house, plus the renovation, plus what a lender will lend on it.

01:36:45:29 – 01:36:49:11
Lincoln Edwards
So you can take those lending terms, sort of take it or leave it.

01:36:49:13 – 01:36:58:09
Rod Khleif
Got it. So is that hard money typically. Typically, yeah. So it’s going to be higher interest with some points and stuff. No prepayment penalties which are sometimes maybe prepayment.

01:36:58:09 – 01:37:17:25
Lincoln Edwards
But the nice thing about, the reason we have preferred financing partners is because they tier their pricing based on experience. Right? So if you’re a first time or you’re going to get a much higher rate than you would if you’ve done five, ten, 20 of these. So we basically work a deal with them that says, hey, give, give our new folks the same rate that you’re going to give your experienced folks because you’re leveraging ours.

01:37:17:28 – 01:37:22:12
Lincoln Edwards
So it winds up being cheaper on the financing, particularly if it’s, you know, your first or second deal.

01:37:22:14 – 01:37:36:03
Rod Khleif
Okay, okay. And so, so you’re looking for someone that’s, that’s got some money to invest that wants to do a flip. Do you have any historical return numbers?

01:37:36:09 – 01:37:45:22
Lincoln Edwards
Yeah. So, we’re we’re, targeting a 25% ROE figure, and I can obviously very if its target.

01:37:45:22 – 01:37:47:17
Rod Khleif
Is 25% return on your money.

01:37:47:22 – 01:37:48:18
Lincoln Edwards
Exactly.

01:37:48:24 – 01:37:49:23
Rod Khleif
Cash out of pocket.

01:37:49:25 – 01:37:50:04
Lincoln Edwards
Yeah.

01:37:50:04 – 01:37:51:18
Rod Khleif
As cash on cash return.

01:37:51:21 – 01:37:54:15
Lincoln Edwards
Exactly. Assuming you’re using leverage. Right.

01:37:54:15 – 01:37:55:13
Rod Khleif
Okay.

01:37:55:15 – 01:38:19:23
Lincoln Edwards
So and that that varies obviously up and down. So we just have I think our episode coming out this week was a great it was a great one to the upside where, guy hit like a 60% cash on cash because we got multiple offers, got beat up. That’s a huge win, right. You know, and then we’ve we’ve had others where it’s like, you know, for our clients, it’s like a breakeven.

01:38:19:25 – 01:38:21:29
Lincoln Edwards
You win some, you lose some. Well.

01:38:21:29 – 01:38:23:00
Rod Khleif
Thank you for that honesty.

01:38:23:00 – 01:38:42:00
Lincoln Edwards
Of course. Of course. You know, and that’s the main thing is that, like I said, we’re trying to disaggregate the execution risk from the market risk. We make very clear. Look, you’re a market investor. So the market’s going to do. And we we submit sort of our comps. And we say, hey, this is what we think you can get on the back end.

01:38:42:02 – 01:39:10:07
Lincoln Edwards
Verify that. And we use our own set of comps. We also use a third party report that just as a sanity check. And then we encourage obviously our investors to look at that. But but that’s sort of the job that you’re doing as an investor is to say, hey, do we think this is believable? And we’ve basically, for all of our projects, we’ve we’ve nailed the execution in the middle, i.e. the renovation and cost, and, and where the numbers have not worked as well for folks, it’s because it’s back in values.

01:39:10:09 – 01:39:27:03
Lincoln Edwards
You know, we didn’t get an offer. What? We thought we got one less or we priced a little too high and, you know, had to draw that back. And that’s completely the discretion of, of our investors. So on the exit strategy, we let you sort of decide, we’ll work with you and say, hey, this is what we think you should list at.

01:39:27:03 – 01:39:47:13
Lincoln Edwards
But if you want to go aggressive, you’re welcome to. Or obviously if you’re listing it for rent, you can and in the name of the game in the house flipping, world really is is about the, the cycling of the same cash. Right. So I was sort of when I, when I list my own properties, I put them on there and I take sort of the first reasonable offer that comes along.

01:39:47:20 – 01:40:06:05
Lincoln Edwards
I don’t try and price them too high, because if I can cycle that same cash over twice in a year and I can make you know, let’s call it on average 25% on, on a project, if I can do that twice a year. And suddenly that’s a fabulous return. Okay. If I got to wait several months more.

01:40:06:07 – 01:40:09:01
Lincoln Edwards
Yeah, hold out then it doesn’t really work.

01:40:09:03 – 01:40:18:14
Rod Khleif
Well, it works, but it doesn’t. Doesn’t. It’s not. It’s not as lucrative, I’m sure. Okay. And you said you’ve done about 30 of these so far. Is that right? Yeah.

01:40:18:14 – 01:40:21:15
Lincoln Edwards
We launched January of last year. We’ve done about 30 of them ourselves.

01:40:21:15 – 01:40:22:03
Rod Khleif
Quite a few.

01:40:22:10 – 01:40:22:22
Lincoln Edwards
Yeah.

01:40:22:22 – 01:40:28:18
Rod Khleif
That’s good. You got a decent team going. So do you, do you own the construction company or do you sub it all out?

01:40:28:20 – 01:40:37:26
Lincoln Edwards
Yeah. So we saw the direct general contractor folks. So they sign a they sign a contract for us, directly with us. And then obviously, you know, we sub out.

01:40:37:28 – 01:40:44:23
Rod Khleif
And so, so, so obviously you don’t do this because you’re a kind, altruistic guy. What, how do you get paid?

01:40:44:26 – 01:40:52:12
Lincoln Edwards
Yeah. So, so we basically make money, in the same traditional ways other folks would along that whole value chain.

01:40:52:12 – 01:40:53:18
Rod Khleif
Okay. So we make.

01:40:53:20 – 01:40:56:02
Lincoln Edwards
So we make it like a buyer’s agent,

01:40:56:05 – 01:40:57:02
Rod Khleif
Real estate commission. Okay.

01:40:57:02 – 01:41:08:23
Lincoln Edwards
Exactly. So we’ll make about 3% on the, on the front side of these things. And then we take a markup on the, on the construction. Okay. It’s usually we average about 18% markup on that construction, which is pretty.

01:41:08:23 – 01:41:10:13
Rod Khleif
Standard from cost.

01:41:10:16 – 01:41:39:15
Lincoln Edwards
Exactly. Cost plus about 18%. Oh, that’s not bad. And then we make money on the back end, so we’ll list and we list for, for a 4% total fee for folks. So and we take 1% of that and give three to the buyer’s agent commission. So we’ll, we’ll make money there as well. So, you know, we aggregate those three things together, we can do pretty well on the project, but we don’t like I said, we don’t take any upside or downside on on those projects and let the investors be the investors.

01:41:39:15 – 01:41:42:18
Lincoln Edwards
And we’re really empowering them.

01:41:42:20 – 01:42:01:10
Rod Khleif
Interesting. Man, my comment. Is it my my my thought is, man, that’s a lot of work for just those pieces. I, I’m, but, you know, if you’ve if you’ve systemized it, you know that that then. Okay, in 30, you know, I guess 30. Some decent, decent change. Yeah.

01:42:01:12 – 01:42:29:04
Lincoln Edwards
Well, you know, like I said, I think you know, this is our business model today. And the reason I take inspiration from Shopify, if you’re, you’ve ever, read up on them. But they started as, a snowboard shop. Right. So they were, they were selling, snowboards. And really, I mean, they were just not the back in e-commerce tools that they needed to be able to fulfill that sort of profitably at scale, and had to build those out and then realized, hey, I did hear them.

01:42:29:04 – 01:42:34:11
Rod Khleif
It was on Tim Ferriss. He interviewed the CEO. Okay. Yeah. And he’s in Austin, by the way. Anyway, I’m sorry to interrupt.

01:42:34:12 – 01:42:54:19
Lincoln Edwards
No, I’m good. I’m not listening to that. But I, you know, I read their story and so they’re selling the picks and shovels and really, that’s that’s what we want to do because that ultimately that market is so much bigger and it’s, than what we could ever fulfill. And, and we want to empower that way. So right now we’re fulfilling sort of manually that, that full value chain.

01:42:54:22 – 01:43:18:26
Lincoln Edwards
But, you know, our dream is to scale that up such that we’re disaggregating it and fulfilling a lot of that virtually. So maybe that middle piece, instead of actually handling the construction, you know, we’ve got vetted contractors and more of a platform in which space we’re, we’re we’re referring you out to contractors in your market, where we’ve got a master services agreement to where they we know they’ll do these, scope items for this price.

01:43:18:26 – 01:43:23:00
Lincoln Edwards
And, and now we’re taking maybe a smaller referral fee, but we’re not fulfilling.

01:43:23:00 – 01:43:27:03
Rod Khleif
Interesting, interesting. So that’s where you see this potentially going.

01:43:27:05 – 01:43:52:03
Lincoln Edwards
Yeah. Exactly. So so we want to scale, or you know, the other analogy I use for it is sort of like trying to build a self-driving car. And right now we’re building a taxi fleet, you know what I mean? So we’re driving those cars ourselves. And over time, you know, it can go from, you know, taxi and we own the car to, hey, maybe it’s Uber and and we’re working with local fulfillment and then ultimately you get to that self-driving, where it’s, it’s more turnkey and digital.

01:43:52:03 – 01:44:06:24
Lincoln Edwards
But the key to that is really the data. Right? And that’s what we’re doing right now. We’re controlling that full experience to get the data on ton of houses. Fulfilling ourselves with that is the vision. But in the short term, there’s economics for us making money.

01:44:06:24 – 01:44:17:23
Rod Khleif
Well that’s good. And obviously they’re not all wins. They can’t be, you know, because now now what’s the impact of, interest rates right now on your business model?

01:44:17:24 – 01:44:31:11
Lincoln Edwards
2023 was an challenging year because it was in sort of actively declining residential market. So that’s really the hardest thing. And why the projects that didn’t work out didn’t work out because we, you know, we penciled an exit here. If the market declines in the interim.

01:44:31:17 – 01:44:33:24
Rod Khleif
Yeah. You can’t you can forestall that.

01:44:33:26 – 01:44:43:18
Lincoln Edwards
That’s that’s hard. But we we underwrite every deal saying basically assuming a flat market and we flat because I don’t smart I don’t have a crystal ball. You.

01:44:43:18 – 01:44:44:24
Rod Khleif
That’s conservative. Good.

01:44:44:27 – 01:44:45:17
Lincoln Edwards
Exactly.

01:44:45:17 – 01:44:46:08
Rod Khleif
Okay.

01:44:46:11 – 01:45:02:02
Lincoln Edwards
So so if it pencils that way, we’ll do it. And the impact of the interest rates has really been, Not. Hey, did it individual economics of a deal work. But it’s really like what deals are available. You know, a lot of a lot of, sellers are just not entering the market, right?

01:45:02:02 – 01:45:05:11
Rod Khleif
They’re not selling it because they can’t get a decent interest rate on their new house.

01:45:05:11 – 01:45:09:21
Lincoln Edwards
Exactly. Yeah, that’s exactly it. So I think a pent up demand. Exactly.

01:45:09:21 – 01:45:14:04
Rod Khleif
And that’s what I was I was just wondering the, the impact of all that on, on the business model.

01:45:14:05 – 01:45:35:00
Lincoln Edwards
Right. And there was enough of a run up preceding that that folks have enough equity. They can sit on a, on a house, now, I think you will start to see that change. And, you know, people that got sort of peak in the market in 2021 as they need to, move on, you know, that that that could get rough if you don’t have a lot of built in equity.

01:45:35:03 – 01:45:53:09
Lincoln Edwards
But that’s been the biggest challenge is just finding the deals, the where the economics pencil. So we’ve shifted to work with folks, to do sort of a hybrid of what I, what I described to you, where, hey, we’re finding the deal and scoping it to where? Hey, now we’ll work with somebody if they’ve got a deal, because that’s that solves that problem for us.

01:45:53:09 – 01:45:54:09
Rod Khleif
So that’s a good idea.

01:45:54:09 – 01:46:08:03
Lincoln Edwards
If you’ve got a if you’re a client and you found a, property wherever, well, hey, we’ll just run the rest of that play for the value chain. We’ll scope it player materials, package to it, run the project for you. And that sort of solves that problem for us. Interest as.

01:46:08:03 – 01:46:13:14
Rod Khleif
Well. Interesting. But you’re geographically bound with that second, model.

01:46:13:17 – 01:46:29:22
Lincoln Edwards
Yeah, as of today. As of today. But we’ll expand that. And, you know, I think kind of all the major metros that make sense for flipping, you know, we’ll expand into that. And that’s one of the ways that we’re excited to do that is, is for other folks that are bringing in the DS.

01:46:29:22 – 01:46:46:19
Rod Khleif
Yeah. No, it’s a great idea actually. Kind of a done for you, for a want to be flipper that’s found a place. So let me ask you this. In your core business, what are you doing to find deals? You know, obviously you’ve got realtor relationships, but are you doing any direct to seller marketing? Anything like that?

01:46:46:22 – 01:46:55:23
Lincoln Edwards
Yeah. We do. You know, we do all this sort of traditional stuff. If you have ever gone down the rabbit hole of deal sourcing on on residential real estate.

01:46:55:26 – 01:46:57:27
Rod Khleif
Bandit signs, postcards.

01:46:58:00 – 01:46:59:03
Lincoln Edwards
Yeah, exactly.

01:46:59:03 – 01:47:02:21
Rod Khleif
Chunky mail or what they call it the chunky at all cost.

01:47:02:22 – 01:47:23:06
Lincoln Edwards
Yeah. And and varying returns. You know, I’d say the highest ROI things. You know, the direct mail, it seems like for us seems like it doesn’t work until it really works, i.e. interesting. You know, hard to get bites and then, you know, a couple times a year we’ll get one that’s just got 100 K of just instant equity on the thing.

01:47:23:09 – 01:47:29:18
Lincoln Edwards
But I’d say the stuff that’s really, you know, profitable, consistent is relationships. You know, just nothing beats.

01:47:29:18 – 01:47:30:18
Rod Khleif
Relationships with who.

01:47:30:21 – 01:47:39:19
Lincoln Edwards
With, with agents that have Mark come across properties that, you know, aren’t a great fit that wouldn’t finance traditionally because they’ve got.

01:47:39:23 – 01:47:44:06
Rod Khleif
Other beat up and you you’re not going to get a wife to accept it.

01:47:44:06 – 01:48:11:21
Lincoln Edwards
Because. Exactly. Yeah. And then in a lot of times a lender literally won’t land on it because it has major structural damage to the foundation or roof or something like that. That has to be fixed. So, so working with those folks, and then we do a ton of MLS as well. So we’ve, we’ve, we’ve set up software that scrape CMS every day, assigns sort of, a lead score to each property and then feeds it to our inbox to offer on a daily basis and, you know, updates us.

01:48:11:21 – 01:48:14:00
Rod Khleif
And so we do a lot of offers. You throw a lot of stuff.

01:48:14:00 – 01:48:22:16
Lincoln Edwards
Yeah, it’s a lot of kissing frogs basically. Yeah, yeah. And that’s part of the, the value to and for for this is an asset class. You got to kiss a ton of frogs to find that ideal you know.

01:48:22:17 – 01:48:42:14
Rod Khleif
Yeah. Most same in our business. Same in the multifamily you know. Gotcha. But we looked at 200 properties to to find the one we’re under contract on right now. 200 units in San Antonio, right down the road from you, a mile away from another 296 unit that we have. We’re assuming 4% dead or for foreign change and seven years left on it.

01:48:42:14 – 01:48:54:15
Rod Khleif
And it’s it’s a screaming deal. We’re paying 200,000 a unit to one next door sold for 237. And, a unit 237,000. It’s on a lake. It’s, right down the road from you. Right?

01:48:54:15 – 01:48:57:02
Lincoln Edwards
Yeah. That’s, my partner Lauren lives in San Antonio.

01:48:57:07 – 01:49:14:20
Rod Khleif
Oh. So. Yeah, it’s it’s one of the hottest markets in the country. It’s it’s crazy how well it’s doing. I just got another, commercial real estate. You know, I get I get the emails from all the different big, outfits, a big brokerages and, media outlets and and they’re just talking about how great San Antonio is.

01:49:14:21 – 01:49:21:26
Lincoln Edwards
Yeah. Texas demographics of Texas continue to rise and boom. And not enough housing stock. Not the right family. It’s it’s been,

01:49:21:28 – 01:49:24:00
Rod Khleif
So you went into Dallas too, right? You’re in Dallas.

01:49:24:00 – 01:49:42:05
Lincoln Edwards
Yeah, we just launched in Dallas, the Q1 of 2024. Yeah. Okay. So we’re we’re just getting our first, couple deals. Okay. Under contract. But I’m really excited because there’s a lot more inventory in Dallas, you know? Yeah, more housing stock and a lot more sort of flippable housing stock. I don’t know if you know much about Austin, but Austin’s hot.

01:49:42:05 – 01:49:52:28
Rod Khleif
I mean, Austin’s been so insane that, I mean, I could see how you’d have trouble finding deals. Exactly. Dallas, you’ve got so many different submarkets that you have a lot more, you know, lower hanging fruit.

01:49:52:28 – 01:49:55:05
Lincoln Edwards
Exactly. Yeah, exactly.

01:49:55:07 – 01:50:07:19
Rod Khleif
Yeah. Awesome. You know, Austin’s cool, though. I’ve been there once, got a great music scene, and I listen to Joe Rogan, who’s in Austin. So I hear a lot of stuff him talking about, you know, a lot of comedy clubs and stuff there. But,

01:50:07:21 – 01:50:13:00
Lincoln Edwards
Yeah, it’s got different vibes than the rest of Texas. But yeah, it’s great quality life, great outdoor scene.

01:50:13:00 – 01:50:13:10
Rod Khleif
Yeah.

01:50:13:10 – 01:50:20:01
Lincoln Edwards
Sports festivals, music. It’s a great place to live. But the real estate is priced completely different than the rest, right?

01:50:20:05 – 01:50:37:14
Rod Khleif
Right. Right, right. No, I think you’re killing Dallas. That’s that’s that where we that’s where the most assets in Dallas as well. I’ve got quite a few different complexes in Dallas. So. So what you see next is, is taking this thing and going to other geographic markets and, and yeah. Very cool.

01:50:37:14 – 01:50:54:17
Lincoln Edwards
So yeah, I’d like I’d like to expand in other geographies. I think it also makes sense to probably on, on smaller, multifamily deals, you know, 4 to 12 kind of unit type stuff where we can run a similar play. Yeah. Because it’s really about the that, that execution of, you know, what’s appropriate scope, what are the materials.

01:50:54:17 – 01:50:56:08
Lincoln Edwards
And let’s go. Go knock that out.

01:50:56:11 – 01:51:18:19
Rod Khleif
Yeah. Now I mean, you know, if you can help an operator that, that bought a four unit or a 12 unit or whatever, as long as, as long as, you know, you’re not priced too far out. Versus, you know, another GC. I could see that as a real value add for sure. No question. So do you have any mentors?

01:51:18:19 – 01:51:21:09
Rod Khleif
Do you have any mentors in this path of yours?

01:51:21:12 – 01:51:40:22
Lincoln Edwards
No. No. Not really. Okay. No. You know, I, I, unfortunately, you know, figured out a lot of stuff sort of trial and error on my own. You know, I’ve been sort of an entrepreneur, for, for, gosh, ten plus years now. Which is probably not what I would recommend. Really.

01:51:40:25 – 01:51:48:04
Rod Khleif
Well, I’ve done it, I’ve done it. I’ve done it for 45 years. So, you know, I can I feel you.

01:51:48:07 – 01:51:58:05
Lincoln Edwards
Yeah. I mean, it can be sort of, you know, a lonely road. And, you know, other people’s mistakes are a lot cheaper than your own. You know, not that I haven’t learned from other other people.

01:51:58:05 – 01:52:13:26
Rod Khleif
So it’s peaks and valleys, you know, but but it can be stressful, you know, that’s why my hair is completely gray at this point. But, yeah, I’ve built 27 different businesses and, you know, several worth tens of millions, many spectacular flaming seminars.

01:52:13:28 – 01:52:15:23
Lincoln Edwards
I love that word. Seminar.

01:52:15:26 – 01:52:32:01
Rod Khleif
I got it from Tony Robbins. You know, it’s not a failure. It’s only a failure if you don’t get your ass back up or you don’t get the lessons. You know, there’s always lessons you learn from these these quote unquote failures. So, you know, I have a lot of people listen to my show that, no, they need to go do something.

01:52:32:04 – 01:52:45:16
Rod Khleif
They know. They, you know, they they’re maybe in the rat race, or maybe they’re comfortable, but they know they want more. Do you have any words of wisdom or any anything you might say to those people that, just haven’t gotten off the fence?

01:52:45:18 – 01:53:03:16
Lincoln Edwards
Yeah, I mean, I liked I liked what you said about your houses in Dallas, you know, being able to buy them for 20 K, and that was Denver. I’m sorry. I’m sorry. Denver is, you know, being able to buy them for, for 20 K because I, you know, I love that phrase that the best time to plant a tree is 20 years ago.

01:53:03:18 – 01:53:22:29
Lincoln Edwards
And the second best time is today. That’s what I’d say to folks. You know, you can’t plant a tree 20 years ago. And congrats if you did. But you can plant one today. You can’t plant one tomorrow. So, you got to you got to take a concrete step, and and, you know, I make real estate content.

01:53:23:01 – 01:53:33:14
Lincoln Edwards
Love your show. Thank you. But you got to at some point, you know, listening consuming is not enough. You got to, take a concrete, physical step and get out there.

01:53:33:15 – 01:53:47:24
Rod Khleif
Yeah. Massive freaking action. Exactly. So, are there any books that have helped you in your journey here? Obviously. Rich dad, poor dad, I’m sure, but anything other than that that is there a book that you gift more than another?

01:53:47:27 – 01:54:17:20
Lincoln Edwards
Yeah. You know it. It’s not a great, It’s not a great real estate. Well done. But, the Black Swan by Nassim Taleb. I don’t know why I did more to sort of change my thinking about risk. Uncertainty. Unknown unknowns, made a lot of, made a lot of money investing with sort of the principles that book, even though he, you know, didn’t directly intended to be sort of a real estate book.

01:54:17:22 – 01:54:38:07
Lincoln Edwards
I love that game. And I didn’t start with Rich dad. Poor dad. There’s, there’s a, book, and, author’s name is blanking on me, but, it’s called the Real Estate Game. I thought it was a fun, approachable way. It was the first sort of real estate book I ever picked up. And and and, you know, filter through the lens of sort of a game, you know, monopoly style.

01:54:38:08 – 01:54:39:19
Lincoln Edwards
I thought that was. I thought that was a.

01:54:39:19 – 01:54:56:21
Rod Khleif
Great, cool. Great. Absolutely. Yeah. Love it, love it. I mean, a life is a game, you know, if you, when you, when you play life, that’s, that’s a, that’s a freaking life. So obviously you’re a very driven guy. I know your family’s. You went to, Orlando with your kids, went to Disney. I we used to have annual passes.

01:54:56:21 – 01:55:07:08
Rod Khleif
We’d go there, especially if a hurricane was coming. Boy, the kids knew they were going to Disney if there was a hurricane coming. But, you know, you seem very driven and motivated. I’m guessing the. Why is the kids and the family. Yes.

01:55:07:13 – 01:55:30:19
Lincoln Edwards
Yeah, yeah, yeah, that that’s a great driver for me. I, you know, my my, my, you know, I found there’s, there’s so much, to be gained from a mission, from a purpose. You know, I mentioned you mentioned I went to Harvard for four years. I feel like that when I was younger, I made sort of that my mission, I made getting there my mission.

01:55:30:22 – 01:55:51:09
Lincoln Edwards
And that was great. And it helped me to do that. But I realized once I was there, there was the wrong mission, because it wasn’t really, there was not a next then. So sort of then the the jobs or the my career sort of took a, aimless turn for a minute. Right. And, and so, you know, yes.

01:55:51:09 – 01:56:03:29
Lincoln Edwards
About advice, I think finding that sort of critical mission and vision, there’s, there’s what’s driving you and it’s, it’s family and it’s support for them. But then really like a vision of what you can make your company or whatever.

01:56:04:01 – 01:56:04:24
Rod Khleif
Your life, your.

01:56:04:24 – 01:56:08:06
Lincoln Edwards
Life. Yeah. Hugely helpful.

01:56:08:06 – 01:56:17:22
Rod Khleif
Hugely question men, you know, when you can find your passion and you can find what you enjoy doing. I mean, you never work another day in your life. Are you enjoying what you’re doing?

01:56:17:23 – 01:56:18:25
Lincoln Edwards
Yeah, I’m loving it.

01:56:18:25 – 01:56:39:10
Rod Khleif
I’m loving. Yeah. So. So, you know, you’re passionate about it. You’re able to influence people because you’re passionate, because you love it. So, you know, if you’re listening to this and you don’t love real estate yet, you know, you can associate pleasure with it and learn to love anything, okay? But if you can’t learn to love, and I tell my warriors this, my students, if you can’t learn to love this, for God’s sakes, go do something else.

01:56:39:10 – 01:57:02:06
Rod Khleif
Life is too freaking short to not do what you love. And and and then you when you can call it a mission or a purpose. And it’s got that backbone behind it. Success is inevitable, right, man? So. Well, listen, brother, I really appreciate you coming down. This is a unique interview for us because we talk multifamily, but I’m starting to interject more other disciplines.

01:57:02:06 – 01:57:14:08
Rod Khleif
And flipping is I mean, something. I’ve done a lot of tours, but, you know, it’s not something we’ve really talked on the show a lot about. And you’ve got a cool model and, I’m sure you can be very successful. You’re very sharp. But I appreciate you coming on, bro.

01:57:14:08 – 01:57:26:22
Lincoln Edwards
Yeah. No, this is great. Appreciate you having me on. Yeah. I love kind of Brian broadening the horizons. Love to get to talk multifamily again a little bit with you. And it’s inspiring. What you’ve done, what you’ve built. So this is this has been great.

01:57:26:23 – 01:57:27:07
Rod Khleif
Thank you bro.