From Ethical Dilemmas to Real Impact: Building Wealth the Right Way with Caleb Christopher

[0:00] welcome back to the rei agent we are here with caleb christopher caleb thanks so much for joining us today it’s an honor and a pleasure thank you caleb we had a lot of fun uh kind of off air before we started here um besides being a friends um a fan and a movie quoting connoisseur uh who are you and what do you do in real estate uh so i own a couple of rentals matter of fact movie quotes was um i was at my rental property that’s down the street from me it just vacated and i was doing a walkthrough for a punch list and i saw the backdoor neighbor and i said hey i don’t think i know your name and he came over and he said something and he quoted dumb and dumber and i was like yeah and you know fist bump and i’m like this is a great relationship friends love you what’s your phone number man let’s talk that’s well that’s one i can’t quote that’s my that’s my third love languages uh movie quotes so i own several rental properties so i am an active investor and owner operator i’ve got some property managed but the ones that are closest to me i’m like i’ll self-manage a couple i own creative tc which is transaction consulting for creative finance deals and i own

[1:10] creative title company which is in colorado and soon to be tennessee that’s where i’m at right now with my real estate businesses and journey it’s caleb what you’re doing is so helpful for people um i think there is it’s really difficult to find a places to close uh creative deals sometimes and and then also if you can find uh you know an attorney or whoever to maybe entertain it they often don’t really have the the knowledge the frame of reference to to understand how to do things properly uh but can i tell you something though like yeah i i’m a contracts guy i’m a nerd i like paperwork i like the oxford comma for my uh shout out to anybody else who knows what that is who are the the thing is i end up correcting attorneys a lot of the time so guess what two states i don’t do business new york new jersey they do not like unlicensed and hal telling them anything i’m like there’s a better way to do this oh you should be using this document hey the context says that we should be doing a b and c they do not want to hear from me so i’m just some guy that’s helping make creative finance deals

[2:14] safe legal and ethical and what i put in my scope of work to kind of defend why are they turning to an unlicensed person like caleb and his team for anything related to a real estate transaction where attorneys are probably the best choice i don’t i don’t say that they’re not the problem is finding a creative finance capable a creative finance prepared attorney who can get up to speed and do what you need to do within the two weeks left you’ve got before closing i’ve just been there and done that with dozens of transactions per month for four years now our four-year anniversaries in like two weeks oh wow that’s awesome no 100 it’s not the common way of often doing things and i think that if you’re not in a business if you’re not in a market um or you don’t have client clientele that do a lot of these kind of transactions it’s going to be like studying a different type of law almost right than than what they might be even if it’s still real estate creative finance is weird i’ll be the first one to say it i own two companies that specialize in creative finance it is weird it’s not normal so you’re not going to find a normal person who does

[3:14] not normal stuff you need somebody who’s been there and done that a dozen times and who can hold your hands not just a dozen times dozens and hundreds of times uh keb before we get more into this where where what got you started with uh real estate what did you do before you were in real estate um and how did it lead to being a creative finance person well i got into it and cyber security after i did like a five and a half year stint in the prison system in kansas i’m glad you turned your life around yeah as a guard yeah it felt like a sentence though eight hours a day five and a half years of that um that was when i resolved not to work for government again sure it’s not a meritocracy you can be really good at what you do and still get stuck in bad posts etc so it’s seniority rules i’m not for it but i learned a lot because i was working physical security and risk management and then i switched to it which was cool i i’m a nerd um but i switched from it and upgraded i got a bachelor’s degree in cyber security and risk management and so i’ve got this risk management approach to everything i do which guess what i read court cases i read contracts i write contracts

[4:24] one of my wholesaler guys right so i help i help more than just wholesalers but also agents but one of my wholesalers just got gypped a little over and they’re in the five figures by a title company who just didn’t give them their assignment fee oh wow long story short they were using my contract and my assignment contract so my purchase contract and assignment and i’m like these people are dead to rights there’s no possible way that this is going to go through you’ve got them dead to rights so after debates their their attorney the title company’s attorney is claiming some technicality and i told the wholesaler i’m like if there’s a hole in my paperwork there are hundreds and hundreds of people who use my docs because they’re better and i genuinely believe that and they are but if there’s a hole i need to know about it so i’ll go have you with you on the lawsuit let’s go so i think next week we’re gonna file wow and i’m hoping to get that person back their money and legal fees and get paid back my havesy yeah wow it’s it yeah it’s a it’s an interesting space for sure uh it’s you know i think subject to is one probably topic we could talk about wholesaling

[5:29] is i’m sure another there’s a there’s a lot of different things we could talk about here but um maybe maybe start with explaining um wholesaling and maybe some of the the challenges that you see uh to if if you know if you’re talking to an agent they may not be as familiar with it and may also see it uh it can it can seem a little predatory um sure on the outside at times so could you explain that a little bit yeah um i’m gonna start with a quote i saw something a picture of a chessboard and it said the white pieces and the black pieces are bitter enemies however the people moving those pieces are often friends and that’s kind of a bit of the perspective of i think of wholesalers versus real estate agents yeah but the buyers you know the the buyers and the investors and the sellers can be pretty good friends meanwhile you guys are like bitterest of enemies there’s good wholesalers and bad wholesalers there’s good agents and bad agents if you’re out to help people you’re out to help people if you’re out for number looking out for number one you’re looking out for number one just recognize the type of person you’re dealing with and get over your

[6:29] classifications licensed or unlicensed i’m unlicensed and i help more people than most agents easily because i care about doing good so a wholesaler is somebody who finds markets to sell potential sellers prospects so they choose a prospect and they try to convert that prospect into a lead they reach out actually i’m going to tell you something if i ran a challenge and i’m running a wholesaler challenge next month in colorado a deal maker challenge if i ran a challenge for wholesalers and a challenge for agents i just would do the same challenge i just wouldn’t put those two groups in the same room i could run those two in parallel yeah all right everybody pick up your phone dial start dialing your list hey would you like to sell your house great i’d like to make a cash offer switch classrooms oh great i’ve got a listing agreement let me come visit the house and let’s start taking photos same it’s the same business model it’s the same pitch it’s the same communication it’s just different paperwork calm down a little bit you know yeah and different often different motivations from the the sellers right yeah yeah and so some some sellers are better

[7:27] for one and some are better for the other and so if you want walkthroughs and you can pass inspection great go with an agent if you can’t pass inspection or or don’t want to deal with walkthroughs and you just want a quick exit get the wholesaler there’s plenty of uneducated unprofessional people on both sides of the fence i can’t say one’s better than the other totally did i answer the question or just go off on like seven rabbit trails no no i think it’s it’s just uh so so basically a wholesaler uh would be you know getting instead of putting something on the market uh with the contract to get a commission for six months by the way there they are depending on the market they are going to be uh typically this is like he said like it’s a more distressed home that might not be able to they need quick cash depending there’s a lot of different reasons why somebody uh is going to want to kind of a fast process uh to to close and uh a wholesaler will typically get a house under contract and then they more or less sell the contract to an investor uh and there’s a like a fee involved so if they they have it under contract for a hundred thousand

[8:26] dollars and they they sell the contract to somebody for 120 000 they would get that twenty thousand dollar difference yeah so i think the difference comes down to who pays the person let’s let’s put agents and wholesalers in the same bucket who pays you the difference is on an agent’s deal the seller pays the agent for marketing and getting the deal sold on the on the other side on the wholesaler side it’s the buyer who pays a fee to the wholesaler for finding the deal and connect them to it that’s pretty much the only difference it’s pretty close to the same dollars in most deals by the way so by the time we’re done you can’t call wholesalers unethical just because they made forty thousand dollars on a deal when the whole when the agent would have made about the same percentage wise it’s insignificant difference in most cases they’re in the everybody’s in the business of moving houses and you help people in different ways so next next question yeah no that’s that’s mainly for the people that may not be aware of what that is what are some of the challenges that uh you see with uh title companies and and you know how do you help consult

[9:30] uh how to close uh you know a wholesale deal like are there double closes what what what are typically the processes you go there through there yeah i mean it goes back to when i started in real estate i joined a wholesale team as a lead manager and underwriter my job was to close creative deals when somebody said no to a cash offer i was the guy who would call and say hey i understand that offer doesn’t work uh tell me your situation right and let’s disqualify cash realtor and keeping it because if realtor is a good option let’s do that so the cash offer we already know doesn’t work realtor why won’t you sell with a realtor well i don’t want to pay their commissions okay or i don’t want to do walkthroughs or i don’t want whatever the seller’s reason is my goal is to disqualify cash realtor and keeping it before i go creative if you’ve got somebody slinging creative terms without disqualifying those first three first uh you may not have a deal on your hands it a lot of times and then find that third one why don’t you just keep it don’t you don’t you don’t like fixing toilets if the seller

[10:23] can give me a reason why cash realtor and keeping it won’t work and they still want to sell guess what i get to go from slinging offers at them to sitting next to them at the table and saying okay here’s what let’s do this together here’s what i can do with you mr seller and i like that pivot it makes me to the position where i’m helping and i get to understand their story and i get a right to ask questions that they would not otherwise answer to somebody who’s just slinging offers and so creative finance becomes a problem a solution to problems and that’s what i like about creative finance so i got into it by being a lead manager on a wholesaler team and then i did a couple of deals creative deals hey let me just take over your payments right the cash offer doesn’t work but i can pay your price if you let me just take over your payments i’ll pay the mortgage for you cool this is my first couple of deals then i as a lead manager got it under contract and then the people who own the company wanted to sell that contract off and i’m like hey i just made promises to that seller i don’t know that

[11:17] the person you’re going to hand this to is going to keep my promises that’s not cool by me and so now i’ve got this moral ethical dilemma like i said and did everything i was trained to do but now people could be getting jacked intentionally or not this isn’t cool by me and so i set out to make these deals safe legal and ethical and that’s been my mission ever since what 21 22 and so creative tc was the first company and then once i started touching enough these deals and i’m helping not just wholesalers but sellers and agents too i have plenty of agents who are like i’m getting all these offers which ones do i take which should i consider what i need to watch out for is it okay if they assign it let’s talk through it and so to that end i have free 15 minute consults i want to be the lighthouse to keep you from crashing into the rocks because i think creative finance is fantastic tool but it’s not for everybody it is weird and you need to enter into it with um having had the right discussions and ask the right questions sure now i think that uh i think that you know often when you’re getting into real estate um if you want to be an investor as well or or not usually

[12:16] often it’s the starting point is you know being an agent or a wholesaler there’s kind of like two different paths right uh i you could probably do both i you know i won’t get into that right now but um you know that that’s often the starting point but i think there’s a there is like a next step right so like if you want to start owning the properties as well if you want to start having some more creative ways of of solving the people’s problems like you’re saying um going learning the creative solutions is i think really important i think that you can really level up your game as a wholesaler as a real estate agent um by having those extra tools because you know what subject two is going to work in a in a situation that you know something else won’t right etc and so knowing those options is uh is huge um what are some of the common creative uh methods that you you you talk about and um can you explain them a little bit yeah so just as a reminder we touch dozens of these deals every month at creative tc and have hundreds literally hundreds of five-star reviews because we’re asking questions because we want to understand why are you doing a sub two do you know why you’re

[13:21] doing a sub two do you understand the credit implications so a lot of times it’ll be seller finance subject to which is taking over somebody else’s payments i get the deed i make your payments your credit’s still on the line a combination of those two a hybrid of some sort which could be considered a wraparound mortgage um i mean we can there’s a ton of different subclassifications and ways to do it weird but uh usually it’s taking over somebody else’s payments or if they own it free and clear making payments to them and turning them into the bank there’s various levels of that you can also do a lease with an option to purchase and a sandwich lease option so we could spend three episodes just talking about the technicalities of these different deal types and i think i’ve built a a chart which maybe i’ll if you have show notes i can just put a link to that in there yeah 100 percent um i know you you’re probably itching over here to ask about how i was i was wondering i’m just waiting yeah i’ve been going i’ve been going off yeah she was drinking a lot of coffee before the show i know she’s raring to go i i wanted to hear a little bit about your work

[14:20] rhythm because i know you you know founded your own business i’m curious if you work like a nine to five or if your work rhythm is different and how that works with your family rhythm yeah as an entrepreneur i mean i started creative tc because i saw i have this moral compulsion like somebody’s got to do something about this and nobody else i’m looking around nobody else is going to do it so it’s going to be me right be the change you want to see that company took off as my full-time job was winding down because it was a government contracts job and the contracts were drying up so i had a drop dead date where i had like this company had to support me so i’m in a couple of real estate communities and most of my business comes from those my first year and a half i was working 12 to 18 hour days and i had to tell my wife like hey we’re in this weird spot in life you don’t get me except on the weekends and that was only after a while of me not being available at all ever i work from home this is my basement in kansas right here uh and i was at home and unavailable to my wife and my family i’ve

[15:21] got four kids now i didn’t at the time but that was definitely a challenge and we’ve gone it took a long time to be able to hand off my management duties to somebody else like entrepreneurship is not easy how old were your kids however many you had at that time what stage was that i think i had i think i had three at the time i’ve got four now and so they’re about three years apart each so somewhere between seven i think the oldest was seven or eight at the time he’s about to turn 13 now okay um the the turning point for me or the the heart-rending ah moment for me was i in june of 2022 i do remember this i went to a mastermind stayed at the guy’s house and it was in arizona and it was day two and a half i’d been gone for two and a half days and my wife texted me to said hey to say hey ezra just asked my oldest son seven he just asked where you were and what i realized was it had been two and a half days that i had been gone from the house and he didn’t even notice until day two and a half where’s dad i haven’t seen him in two days and i was like because he never sees me anyways he sees me at dinnertime and that’s about it what a condemnation for me as a father like you’re

[16:38] doing it wrong i’m working hard sure but i’m i’m not i’m supporting my family but i’m not being there for my family there’s where’s the balance and that was a critical question for me while i was on that trip and i resolved that something had to change and so absolutely when i get off we don’t have a hard stop at 5 p.m but that regulation has come in you know personal regulation is about 5 p.m i’m off and i’m not messing on my phone very much i make i’m i still screw up and i have we have a sit down dinner we’ve got a too small kitchen with a too small table with folding chairs and that’s been our dining table and we cram all six of us around that table and we have dinner together every night and then i turn stuff off on the weekends just sorry yeah oh well on the weekends on the weekends you don’t touch it at all don’t look at it till monday hard stop i mean i see stuff come in but i don’t respond to stuff right nobody’s gonna die over the weekend if somebody has an emergency i’ll take a call but i’ve got a team and they’re off for the weekends too and i want to protect their time yeah yeah that’s a big difference it is really really tough to juggle did you did you ever

[17:42] notice you know when you when you did like especially during the time when you were working a lot when you would come upstairs or when you did have a minute with the kids or needed to do bedtime did you realize too like maybe they had a specific routine with mom that you were a little bit out of the loop on just because you had been working a lot just things like yeah i mean that’s still the case but it’s different it’s different age brackets i i’ve been a youth leader before at my church and i tend to connect with the middle and high school kids way better than the elementaries like i’m not interested in leading or teaching the younger children’s church not my style not my favorite age to deal with that’s fine and so maybe this is bad for me to say but it’s honest at least um i love all my kids but my favorite time to interact with them is as they’re getting older in the the 10 my oldest is almost 13 so age 10 and up is has been my favorite so far and i engage more directly i’ve got movie quotes we talk in movie quotes and stuff like that that’s where i engage mentally and socially with my

[18:41] children my youngest asked me to read i’m like sure let’s let’s go read a book but yeah and i love them but i enjoy spending time specifically as they get older the relationship does start to change pretty significantly we so our oldest is nine she’s she just turned nine in february and i i have noticed a shift in the level of conversation we can have with her and i think and i knew that coming into having kids so maybe that was i don’t know but i don’t feel bad about it it’s just i engage way better with the older children i mean yeah i taught a bible study about uh and i use the word suckitude to represent us in front of god like the level of our suckitude and my wife is like i’m not sure the other parents would like you saying that i’m like they’re teen kids this is how i communicate sorry make me not a youth leader then that’s funny yeah well it sounds like i mean there have been a lot of changes over the last several years and and you you have there was an adjustment period um where you had to sounds like from what i heard you say really wrestle with what kind of balance feels good to you

[19:49] and to your family and in a way that the business can be successful do you feel like you’ve gotten there at this point i’m comfortable with the balance of course i would love more time and as i’ve shifted to more ceo i don’t want to call myself a ceo of a 14 15 person company i don’t feel that’s the right title president leader manager whatever but as i shift into more of that ceo style role i’m handing stuff off and i i need to not be the guy that does any of the things so for the title company my two key hires i just secured a marketing manager like a director of marketing and i’m still hunting in case anybody’s listening for a full-time director of sales in the denver area but those two key hires will allow me to step back and work on and not in but i have actively resisted we raise capital for this company and so i have a duty to my investors uh but i also need to not be the sales guy i need to be a bonus to the sales guy and a bonus to the marketing leader and um you know i just do these drive-bys and i’ve got great ideas but i i don’t i’m not all fireworks the whole time was was

[20:53] that i mean i think what we’re talking about here is very common for uh driven entrepreneurial type people is is that that like that grind phase is kind of like almost more natural than the stepping back phase and and trying to it is easier to grind yes and there are in the last six months which is when i really shifted to working on being the owner operator owner more than the operator i can’t tell you how many days i wake up where i’m like i just wish somebody would tell me what to do today because my default is let me just open a file and work it and start emailing and calling people and doing the work the busy work of the day that’s easy but the other stuff that’s more important is bigger it’s longer term vision i’m not a 10-year vision guy i know people who are and i don’t know many people who’ve got a 10-year vision i know some people with a five-year vision i’m a one to three-year vision guy i am a visionary but not super long term i don’t see the industry change in front of me i just know what’s right and i know where i want to be in a year or two the did you read books did you did you what kind of practices did you do to start being able to delegate uh to

[22:00] start hiring to uh be able to did you struggle with the um you know controlling um everything and being able to like let that go um i mean what what was that process like for you tears your soul apart yeah i like control um i’m a smart guy and i can typically do things better than the average than anyone else that i know um and i i don’t know how else to say that right the the thing about founders is they believe they can do it better which is why they found something they start something because they believe they can and i know i can do it better than most people which is why i’ve started companies and it’s tough handing stuff off employees co-managers i love you you’re not me right letting go of stuff you have to let go of my standard is like off the screen and i still don’t even meet my own standard how is anyone else going to and i have to be okay with this that’s really hard yeah 100 and i think that’s that’s something that you know a lot of people struggle with and real estate agents uh they you know are not really thinking i’m starting a company i’m starting you know what i mean that they’re going to start selling real estate but there are a lot of different

[23:13] hats that you have to wear a lot of different things that you have to do and and figure out and be good at um and to then get really good at at something um and then be able to like realize okay i need help i need to to to hire out i need to do things that are moving the needle more um for the business and uh not be bogged down by the things that really aren’t uh the best use of your time so i mean it’s a struggle for a lot of people and again like that whole the grind is easier uh for a lot of people that are wired this way uh and to to step back and take a you know realization that there are other things that are important like your family they’re gonna you’re gonna wake up and they’re gonna be grown and gone i think that’s a really good like maybe t-shirt quotable thing like the grind is easier than the build it’s easier to just get a checklist and do something yeah i think i was just thinking when you were talking you know when you’re building a team or a system where you don’t have to do the grind so much that stepping back phase seems just really tough because you you almost have to do that to allow space for opportunity for other people to step in and then it

[24:21] sounds like you were trying to figure out what do i do in the meantime while i watch this hopefully begin to spiral okay i’m more of an optimist than you are oh yeah um one of the things that comes to mind what i’ve noticed so transaction coordination and consulting companies now tc everybody thinks transaction coordinator yes that’s an administrative assistant role i don’t think it’s worth that much dollars wise it adds value to your business etc so creative tc is transaction consulting could be because we do way more than just the coordination but the question becomes do you have a job or a business the same thing i would pose the same question to an agent do you have a job or do you have a business and generally if you go for broker versus agent you tend towards business rather than job but you can still delegate a lot of stuff and be an individual agent under a brokerage and have a business rather than a job and so what i have found in my tc world is that my competitors many of them have good paying jobs i have a badly paying business but we’re performing the same we’re pretty close to

[25:25] it because when i add the overhead of making it into a whole business i can take a day off anytime right i have achieved that level my kids who have a soccer game or i want to do something i’m gone because i don’t run files and i have a business but the business model of being a tc not that profitable good paying job not great paying business but it is a solid foundation from which i built a title company because i see and touch so many creative deals i correct title companies i correct attorneys we’ve built a really good brand with five-star reviews out the wazoo well why not add a lane it’s not a pivot i’m not changing directions i’m just adding to what we do it’s a 70 overlap between what our knowledge is here and what the knowledge is in the second lane which is titled so starting a title company was a natural next step for me i spent a year and a half looking to buy one they just wanted they wanted a premium on their covid numbers and i’m like that’s not the same market as we’re entering for the next three years so i’m not paying that so we started a company and uh i was blessed to be able to raise 320 000 of capital to get this thing off the ground

[26:24] for and now i’m on the key hires phase which took longer than i thought it would but i’m used to hiring entry level rather than uh department head level so note to self and note to anyone else if you’re hiring at department head level give yourself six months to hire it takes a while don’t make the wrong hire yeah but that’s where i’m at right now yeah that’s fascinating stuff um how do you feel like your your health well-being has shifted uh going through that hard transition of of delegating and and not just grinding i told you i’d be honest didn’t i yeah i haven’t had health insurance in i don’t know i can’t even count i don’t even know how many years since 2015 2014 no 2019 i haven’t had health insurance since 2019 so seven years that’s the companies that i’ve started i chose a difficult business model i saw a problem that i wanted to solve so it’s a passion thing and i i enjoy what i do but dude i’m i’m equity rich and cash poor i’ve got rental properties that are paying down but other than that we’re just maintaining and we’re doing good in the world and maintaining so i’m not living a hard life but it’s not luxurious either

[27:32] sure i’m hoping the title company being more mainstream and more profitable will change that but it’s only six months old sure yeah yeah what are some things that tend to help you feel um i would i guess i would just say just more calm and relaxed like when you are feeling kind of the stress of the business what do you tend to do take a nap straight are you yeah i my i like work number one so one of the things i can do to relax is just take a task list and start executing and it has it’s not closest to the money it’s busy work i can turn my brain off it’s it’s work that’s so simple i can turn my brain off other times it’s driving to conferences instead of flying so i’ve got more time listen to audiobooks get away from everyone and everything i’ve got an excuse not to respond to stuff i i tend to be an introvert like i recharge by being alone so having that time and i’m an ideator i i think and i i have a strong sense of wonder and just i like to talk ideas out loud that will never come to fruition which has been a challenge in my marriage because i’m like oh we could do this and my wife is thinking

[28:36] like i’m making life changes on us and i’m like she doesn’t relate to that at all no intention of any of that stuff well why’d you talk about it not that she has that tone with me but it’s like that’s how she feels for sure i can tell uh i just like to talk through stuff that i’m not even she’s she likes to talk through stuff too and it’s i mean some of the stuff she likes to talk through is stuff that i don’t care about stuff i talk to stuff she doesn’t care about so you know what uh i saw this tip that said uh put a percentage on your ideas before you start talking through them and i’m like here’s a five percent idea and she knows she can just tune it out because it ain’t gonna happen oh interesting she’ll she’ll like that she’ll listen to it and engage in the conversation feeling safe because i’m not turning her world upside down with hey we should move we could move to nebraska and do x y and z and rent out this house and she’s like i you know that would be helpful but i don’t i think matias might name all of his ideas as like an 85 idea and then after two weeks he’ll be like just kidding i think it might be

[29:38] a five percent so we got to give it give it a length of time that’s usually what i do like how if he’s still talking about it in three weeks then it’s likely that we could maybe have a joint conversation about it and then we’ll see where it goes from there yeah you can monologue if you monologue for more than three weeks it turns into a conversation like wait a minute sounds like you actually mean this yeah yeah because there have been times where he’s had an idea and i’ll and i’ll jump on board too but they tend to be you know like last year we went to see the eclipse and we we went to north um new york and it wasn’t gonna pan out it was gonna be cloudy and we both kind of looked at each other and like you want to drive six hours tonight with the kids and go see it in canada and we were both like yeah let’s do it and we did and we did not moving to nebraska but you know that’s tomorrow yeah we were waiting when to break it to you erica we’re gonna start everybody’s moving to nebraska my family would be excited they live in kansas yeah not too far from you i guess uh yeah okay caleb um what golden nuggets do you have to share

[30:45] to our listeners today uh especially for the agents investigate this i know you’re getting creative offers you’re getting slammed with these things here’s a principle for you it’s cool to do a deal with zero dollars out of pocket it is unethical however to do a deal with zero dollars in your pocket evaluate your buyers with that in mind so plenty of these creative finance investors all want to put a notch in their belt for having a done a deal with zero dollars out of pocket or close to it which is cool really cool but they still need to have enough cash to handle an emergency especially if i’m taking over your payments i had better have some cash in the bank for when the water heater breaks or our tenant doesn’t pay or something along those lines so when you get a proof of funds you need proof of funds not just for the closing costs you need proof of funds that shows they have savings in the bank as well that makes a lot of sense i agree um yeah i mean it’s it’s not quite the same but if you look at a syndication um the the whole purpose of having accredited investors be the ones that can

[31:43] invest in syndications for the most part um is is so that they are sophisticated they’re not going to lose their whole bag they’re not going to be bankrupt if this deal goes south um and i think that is maybe not to that extent i don’t think you need to be worth a million dollars or you know whatever earn 300 plus uh jointly a year but i think it does make sense that you need to be uh advanced enough and sophisticated enough and able enough to weather the storms if they do come and especially if you’re taking over somebody else’s payment um that can really damage somebody else’s yeah credit etc um cool kayla what about a favorite book um fundamental book you think everybody should read or one that you currently just really enjoy i know it’s overdone yeah and you already know what it is rich dad poor dad but if you seriously if anyone has not read or listened to that book yet you’re an idiot go listen to it you’ve heard people tell you a dozen times or more to go read the book that is what converted me from a know nothing to a i gotta do something right that’s what lit the fire under me i was an accidental landlord couldn’t sell the house that i wanted to sell so i refinanced

[32:51] it to move into the house that i’m in now which is right next door to family so like location location location um and then i read rich dad poor dad and i was like thank god i didn’t sell that house now i have an asset now i have something that’s paying down some i’m building wealth rather than just dollars in the bank and uh it is transformative if you haven’t been through it don’t skip it any longer go get it now go listen to it yeah it’s amazing i think that book it might i don’t know if this is true but i heard that book was written to sell the board game um what would escape the rat race or something or cash flow quadrant or something i forget it’s cash yeah yeah i i heard that once but that book has changed so many people’s lives i don’t think i’m not sure that the board game came out before i don’t know for sure but uh the book stands alone for me yeah i don’t care about the other books or anything there i mean there’s good concepts but you can pick the concepts up without reading the books this book was transformative for me and uh probably millions of other people i don’t know

[33:52] hundreds of thousands at least i think i mean it’s just we’re going through the you know the school system uh which is all kind of geared towards uh one way of of living and working um and it just really flips that on its head so i think it’s if if you don’t have anybody in your family that is an entrepreneurial that does invest in real estate etc like it just really uh can can change your perspective on the world well i can say one thing for government school system uh there are lots of businesses that need employees who don’t think too hard produce workers for us you know yeah that we homeschool um yeah i mean that’s that’s the whole industrial revolution i mean i think that’s what was a lot of people say this school system is is you know to to kind of gear up factory workers sure um so yeah it’s good to to have your your kids be exposed to um this type of stuff as well as you as you raise them um caleb if they’re where what’s your website uh what are places that people could follow you i don’t know if you do social media as well um if they’re interested in learning more about your your business and just following you along i’m pretty excited right now

[35:04] about my newsletter my anti-guru newsletter it’s where i share my real financials on a monthly basis wins or losses i’ve been posting losses lately because we’re we’ve got a startup title company and so the combined income between my rental portfolio which is only four right but also my um my two businesses the combined income is negative right now that’s life that’s real life not just the toxic positivity that a lot of the gurus put out so calebchristopher.io is where you can find creative tc creative title company i fix do on sale as well for these creative deals we didn’t even talk about that but that’s a pretty that’s a pretty big thing if you’re an agent receiving these creative finance offers you need to know about that and and have some sort of comfort level with what happens if this happens how do we handle it so calebchristopher.io has the connections to all of those things and that my boardroom newsletter awesome well caleb thanks so much for being on the show yeah thank you i appreciate the good questions it’s it’s always fun and um to those who didn’t like the show he did a he did a friend’s gesture if you’re not familiar i don’t mean it though i think

[36:10] it’s a more intense than i would ever say out loud anyways but it’s just thanks caleb thanks for listening to the rei agent if you enjoyed this episode hit subscribe to catch new shows every week visit rei agent.com for more content until next time keep building the life you want all content in the show is not investment advice or mental health therapy it is intended for entertainment purposes only