If you’re brand new to real estate investing—or even if you’ve got plenty of deals under your belt—it can be highly motivating to hear stories of success from other investors just like you.
For instance, Eduardo Lopez, our 2018 Strategic Real Estate Coach (SREC) Investor of the Year, was just a regular Joe, doing the typical, full-time job routine. While his job was going well, Eduardo was itching for an opportunity to create more income so he could retire early and spend more time with his family.
Within a matter of just 2-3 years, Eduardo has gone from part-time investing to building a highly successful REI business that is now his primary focus.
In fact, after joining the Masters’ Elite Coaching Program, he was able to take his newfound knowledge and do 17 property deals in half a year – making more than $450,000 in profit! As part of his prize, Eduardo also received a free 2-year lease for a BMW convertible. Not bad, right?!
In this podcast, Eduardo shares his path from humble investor beginnings to his current situation. He credits his success to a number of factors, including his marketing tactics, networking opportunities, strong team, and—most importantly—to his time in the Masters’ Elite Coaching Program. During that time, he worked with his mentor, Kyle, to develop a business plan that was customized to Eduardo’s goals, vision for his business, and unique market.
Eduardo’s accomplishments not only impact himself, but also his 21-year-old son Xavier, who is learning about the real estate investing profession from his father. For Eduardo, real estate investing is a way to pass on the knowledge and tools his children will need to build their own successful futures.
Learn Eduardo’s strategies for growing his business, how he was able to pull off an amazing $450K+ profit in the span of only 6 months, and how he created a monthly rental income of more than $12,000/month:
If you’re a wholesaler who would LOVE to find a super-buyer to flip houses to, then you should REALLY try to make it out to the Flip & Fund Summit 10 on December 7-9 in Las Vegas, Nevada. Because the room is gonna be packed with elite investors.
So not only will you learn what these super-buyers are looking for and how to find them… you might actually be able to pick up a profitable partnership of your own! (I actually first met RJ at the Flip & Fund Summit!)
Welcome to Strategic Real Estate Coach Radio, hosted by Josh Cantwell and Kyle Garifo. Strategic Real Estate Coaches, where the nation’s leading real estate investors, brokers and agents turn to transform the way the real estate business is being done in neighborhoods across the nation. If you desire to make more money, do more deals, grow your passive income and build the lifestyle you’ve always wanted, you need Strategic Real Estate Coach.
This powerhouse team is led by Josh Cantwell, a seasoned investor with nearly a decade of experience, over 700 transactions and over $5.5 million in fundraising generated for himself and his partners. Now, sit back, listen, learn and accelerate your business with Strategic Real Estate Coach Radio.
Josh Cantwell: I just want to say welcome. My name again is Josh Cantwell. I am the CEO at Freeland Ventures, Real Estate Private Equity, which is our real estate investing, flipping and lending company, and we’ve done everything from flip rehabs to rental properties. We’ve made about 300 or 400 private lender loans. We’ve invested in apartment buildings all this year, so we’ve got a very, very busy year and it’s been a lot of fun.
I’m also the CEO of StrategicRealEstateCoach.com, which is our coaching company. We put out great information and we are the nation’s number one real estate coaching company and our goal is to help our students succeed and when our students succeed, we succeed. And so, one of our students that we’ve helped succeed in the last basically 12 months or so, is on the line live with us tonight. His name is Eduardo Lopez. He’s from Texas and so, Eduardo just want to welcome you to the class and say thanks a lot for being here and congratulations on all your success this year. How are you… how you holding up tonight?
Eduardo Lopez: I’m doing pretty good. Yeah, I’m hanging in there. It’s been a busy year. You know, when we first started, it was a heck of a joy ride, but it’s you know, the climb has continued and you know, as of now, you know, when you look at the stats, you know, I’ve got about 51 deals underneath my belt now and just in just living the dream.
Josh Cantwell: Wow. That is fantastic. So, Eduardo, let’s jump in. Let me kind of set the framework here. So, you guys got our emails obviously promoting this call. That’s why you’re all here. And here’s what we’re going to discuss tonight. We’re going to talk a little bit about Eduardo’s business. We’ll talk a little bit about what he’s doing today. We’ll backtrack a little bit and talk with him about when he sort of caught the real estate bug and when he caught the real estate bug, what was kind of going through his head, what intrigued him about real estate? We’ll talk a little bit about all the deals he’s closed, which obviously he’s closed quite a bit this year. And if you just heard, and then we’ll talk a little bit about the future, you know, what is Eduardo doing with his business?
Josh Cantwell: What is happening in the next three to five to 10 years for him? Eduardo I’d like to hear if you could think about it, it probably will stick out pretty quickly about the craziest deal you’ve ever done. If you have a crazy deal, we’d like to hear about that. If you’ve got something, some weird deal that came across your desk or a deal that you did or a deal that you didn’t do that you’re glad you didn’t do. I always like to hear about that kind of stuff. And then finally Eduardo, kind of, you know, going back and asking you. Like what? Knowing what you know now, what kind of advice would you give your former self, whether it’s 12 months ago, whether it’s, you know, advice you’d give to your son, Xavier. Whether it’s things you would give yourself, advice you’d give yourself 20 years ago. It could be business advice, finance advice, real estate advice, relationship advice, whatever that is.
Josh Cantwell: I always like to hear from successful people. What kind of advice they would, you know, give back to their former self and we’ll talk about, you know, at Eduardo’s acquisition strategies and those kinds of things as well. And so, Eduardo, you know, you won the award for investor of the year and what that basically means for the people who don’t know is, we hold two big live events a year. They’re called the Flip and Fund Summit. We’ve got one coming up in December, December seventh through the ninth. You can check out FlipandFun.com to get tickets for this event. And Eduardo’s going to be there. He’s going to jump up on stage with me, he’s going to share some of his strategies and techniques and tell his story. So, we look forward to seeing everybody at the Flip and Fund Summit. FlipandFund.com. But Eduardo signed up.
Josh Cantwell: Came to a Flip and Fund Summit, came to the Flip and Fund Summit eight and he signed up for one of our coaching and consulting programs and he became eligible for what we call our Investor of the Year or our Business and Lifestyle Design contests and within six months, basically from October of 2017 until April of 2018, Eduardo went from doing just a few deals to within six months doing over 17 deals and banking over $450,000 in profit. And when he did that and he won the award for Investor of the Year a winning that award. Not only did he get a trophy, but I also agreed for our investor of the year to pay for either a Mercedes Benz or a BMW for two-year lease. He won that and you see him there smiling live hanging out with me because he gets to look at that beautiful BMW convertible every single morning when he walks into the garage. And so, Eduardo that’s just a little bit of an introduction with a little introduction of you. So, help me fill in the blanks. What did I miss know? Give our audience a little bit more color, a little bit more background about you, about your business, about your family, you know, just help us understand who you are, where you’ve come from.
Eduardo Lopez: Wow, that’s a heck of an introduction. I tell you guys what I mean. You know, to Josh’s point, you know the extravagant gift that was presented to me at the last conference, was just phenomenal. I do walk out every morning in the garage and I see it there and it just makes you smile. And it’s a wonderful life that I’m living in. So, you know, in terms of, you know, where I started, where I got the bug, you know, about three years ago, I always knew real estate was a path to success, but I, I never, I never knew then how to, how do I get there. And I had some shares, a payout and so I went out and bought a couple of properties and the house that I was living in, I went out and I flipped that.
Eduardo Lopez: And in the two properties that I bought, I flipped those all by myself, and my three boys, you know, they tell the story that a for three months solid, they painted every day, painted helping me out. But we got it, we got it done. And I moved into one of the houses that I flipped, but then I ran out of money and I thought, wow, this is difficult. But I understood that there were people out there that were finding some level of success. I just didn’t know what the formula was. And so, I took about a year off and. And last year watched a lot of YouTube videos, did a lot of research and came across Josh’s program. I enlisted, you know, the 45k Flip and then they transitioned into one flip and signed up there and got some initial coaching.
Eduardo Lopez: Found some success there. I’ve got, you know, two flips there and a couple of rental properties. But to his point, it really didn’t take off until I joined the master elite program, a wonderful coach, Kyle. He did great. He did a wonders for me, you know, a lot of coaching, a lot of expertise that he brought to the table. And I just went crazy. I just went and found a lot of success, you know, did a lot of marketing, pursued a lot of channels in terms of where to find deals. It’s just, I just didn’t find deals, you know, all of my deals under one marketing strategy, you know, the deals that I were able to find. I found as defaults, you know, a lot of my, a lot of lenders down here, lot of investing going on.
Eduardo Lopez: There’s about 13,000 investors in the DFW area. There’s a lot of big, hard money lenders down here and, you know, I knocked on every door asking them if they had any deals that were in default. And a lot of those I was able to pick up and, take on and there was enough profit margin in there to find success. Deferred maintenance. I contract, you know, I have a rental property and I contract with one of the largest rental companies here in the DFW area. They have about 21,000 doors and they have a lot of out of state and out of country investors. And, I always knock on the door and I need another project. And I pick up rentals, that have deferred maintenance and a lot of times I’m able to put minimum finance into them and put them back out on the market or keep them as one of my rental portfolios.
Eduardo Lopez: Relationships. With some of my fellow investors, there’s about 21 our investment clubs here in the DFW area. I frequent a six of those on a weekly basis, sometimes. And I find a lot of, uh, a lot of deals through other investors. You know, obviously I do the, the search engine mining through Craigslist, I deal with some of the wholesalers I deal with, a lot of dead leads from wholesalers that they basically throw in the trash. I’m able to find a success. Last month, three dead deals, that were, that were considered dead by some of the wholesalers. I was able to take them and get some subject twos and, and get some wholesale deals out of them, profitable wholesale deals. Bandit signs. I do that. I know, I know a lot of the other, a master elite students have found great success with bandit signs.
Eduardo Lopez: I do that too. We do about 100 bandit signs a week. Sometimes I’m out there doing it, sometimes Xavier’s out there doing it, but you know, we get it done. That’s right. That’s right. And we get, we get deals off of that, you know, and then on, on depending on the types of lists we’re processing, we do letters. Door hangers. I do those and I, and I’ll speak about some of the success I’m finding with door hangers and finding profit by some of the other contractors that I leveraged. And I’ll talk about that. I, and you know, I’m all over the Metroplex, you know, from one end to the other in the DFW area, you go from one end to the other. It’s about a hundred miles lot, a lot of properties. You know, I focus on Tarrant county, Dallas, Denton Colllin. And so, you know, so that’s some of the, that some of the areas that I look at in terms of how I find my deals in terms of strategies.
Eduardo Lopez: If I’m not picking up the, you know, the 70 percent ARV minus repairs, you know, I’m making decisions in terms of a seller, whether I sell or, or hold depending on, you know, there’s about 163 strategies or I’m sorry, 163 zip codes in the DFW area. And in those counties, I focus on the top 20 and, you know, I get my data from, from some of the websites out there, niche.com is one of them that I use to determine where the highest appreciated zip codes are and when I find deals and I market to those areas, when I find those deals, I throw it into the rental portfolio and just, you know, Josh, just within the last eight months, you know, just using that simple strategy, finding the hottest zip codes in your market, marketing to that.
Eduardo Lopez: And then when you do find a deal, you know, throw it into your rental portfolio. I’ve been able to accumulate about a 438,000 in equity. Right? And one thing that I’m doing now is working with a commercial banker to take that equity out and then put that back into the business. Right? And so, in terms of assignments, or in terms of, you know, where my data comes from, you know, my appraisal district data, I literally have every house in those counties that I talked about in my database and I continually feed data into it and I do data mashups. You know, I, until here recently until September, I had a day job as a database manager and data. Big Data has always been my forte in terms of my it career. And so I love data. I do data mashup, I do data cleansing, I do a and I’m starting to get into a real estate data and you know, I have databases that I’m feeding data in terms of, you know, substitute trustee foreclosure data. I’m able then to develop hotspots on that data. And so that’s some of the information that I use to process those deals. And I’ll get into the personas and you know, how I run my business in a second.
Josh Cantwell: Eduardo, you mentioned, there’s a question already from Franco Felice, just asking what database are you using? Are you, you custom build one? Did you start with another software that you just subscribed to? You know, kind of what did you start with, what are you using there?
Eduardo Lopez: Well in terms of a database, you know, I use Open Source. I’m a database guy, you know, so you know Oracle is the big database. I’m very familiar with that, but I use Maria DB. And so typically at least here in the DFW area, the appraisal district data can be downloaded in CSV format and I just choose a multi modal database called Maria DB and I upload my data into that and then I use, you know, different, tools like Tablo to develop heat maps against some of this data, you know, in terms of where the greatest foreclosures are occurring, where the hottest zip codes. And then, you know, I’m starting to look at some of the geospatial data, to help me identify hotspots of where the highest number of sales are occurring, where the highest appreciation, what zip codes those are current in and then using that data to market to. And so, Maria DB from a database standpoint is, is where I’m using for my data warehouse.
Josh Cantwell: Fantastic. So, we’re going to jump into some more of that. Honestly Eduardo, I was able to give him his award for the investor of the year, live on stage back in April. And was really excited for that all on stage together. There’s a lot of our members that have achieved some amazing things. I also want to just recognize a few other people. So, we currently have 66 members in our master’s elite coaching program and we only offer that coaching program at our live events. We have 66 members in that group right now and 29 out of that group. Twenty nine out of the 66 made at least a hundred thousand dollars in the last 12 months. So more than half are about half or more than half are 6 figure earners. A number of the others are new to the program, so they might’ve just started in April, or they must have just started last December.
Josh Cantwell: But we’re very proud and happy with the results of those folks. So, when we had our contests and awards in April, we had a first, what’s up Xavier, how are you doing bud? Those are some white teeth. Your Dad sends you to the dentist a lot I bet. Good to see you man. So, I was just saying, the first place was the BMW or the Mercedes Benz. Second place was a European cruise. And actually, our second-place winner was Sheryl Stewart. She just went on that cruise about two, three weeks ago and she said she hadn’t been on vacation with her husband in four years because he’s a successful dentist and she is a very busy mother and office manager of this dental office. But in the last 12 months she was able to also do about 20 deals, mostly wholesale deals, and she’s done over $400,000 in profit. %his calendar year of 2018, she’s actually got some stuff cooking that she thinks she’s going to close by. The end of the year will push you’re close to a million bucks.
Josh Cantwell: So, she won the award for second place back in April and she went on a Viking River cruise on my dime, my money, but I was super happy to send her off. And then third place was Joel Grieves, from Missouri, and Joe did an awesome job. And you want to want a Rolex watch? Who here’s just some of the students that we have that have done at least $100,000. They’re from all over the place. So, from New Jersey, from Utah, Dallas, San Antonio, California. Let’s see, Maryland. James Zen is kind of from all over the place. He travels on a weekly basis all over the country. Jeff and Julia are from Texas. Jason Boyd is from all over the place. He actually invests in Brazil. He lives in Toronto with his girlfriend.
Josh Cantwell: He’s just done some amazing, amazing things. You know that we’ve got our 250-k club, so Christy Morris and Nick Quarto, Joe Grieve, Sheryl Stewart, we’ve got our half a million-dollar club. Again, just all this year, RJ, Mike Neil, Jack, Patrick, Teddy Slack, Mike Cantrell. These guys just this year, closed 76 deals, made over three point 5 million bucks or a million-dollar club. We’ve got a couple of guys that have been a million bucks this year. A 125 deals and $3.2 million a Chris Cedar is one of our coaches and Chris and his dad own 140 rental properties and they continue to add to the equity in their rental portfolio. And then we’ve got our two coaches, Darren and Kyle and Kyle here is Eduardo and Xavier’s coach. And Kyle’s done about 300 deals, made over $3, million bucks. And it’s just been awesome. So, you know, Joe Grieves again, just want to congratulate him.
Josh Cantwell: He had done just three flips before closing or before coaching and two rentals. And then during his coaching membership he closed 12, flips and eight rentals, this portfolio and $264,000 in profit. Also, Joe just bought last week, just bought nine duplexes with none of his own money, which was really cool. And you see a little picture there of Joe’s Rolex that we bought him a. and then Sheryl Stewart like, like we said, she is really focused now on wholesaling in the Chicago land market. She does a lot of our deals through tax liens, tax deeds and tax liens. That’s the lead that she gets. People who are behind on their taxes and then she wholesales those properties to other investors. Then of course you have Eduardo, and Xavier who’s joined us, which is awesome. So just a lot, a lot of success.
Josh Cantwell: And I’ll be very blunt with everybody that’s on the line, you know, my sort of ideal coaching student is usually between the ages of 40 to 45 to about 70 years old that also already has some resources, people who might have a full-time job and they’re looking to add to their income. And when I, when I meet someone like Eduardo. Eduardo, I wanted to ask you this, like this is going back to when you caught the real estate bug. Most of the students, most of my most successful students, most of the students that I just love to be around that are doing really amazing things. Normally what I hear from them, their number one goal is not to be worth $50,000,000 and buy a Ferrari. Their number one goal is normally freedom. It’s the time freedom to spend time with their kids, grandkids. So, they don’t miss, you know, high school football games and soccer games and kids’ birthday parties and family trips. So, I wanted to ask you, what was your motivation for doing real estate on top of. Because when you had all this success, you still had a day job, right? What was your number one reason for looking at real estate, to add to your sort of legacy for your kids?
Eduardo Lopez: Well, you know, my goal was to, you know, to your point, to retire, to retire early, was one of my goals so that I could spend that quality time with my family. You know, I’ve been in the IT industry now going on 30 years. And so, I want to be able to create a legacy, you know, not only to sustain me for the balance of my life, but also to provide something for my children. Right. And so, you know, what I could give Xavier, you know, in my mind wasn’t so much of monetary value but was knowledge. Right? And so, he’s very young. And so, he rolls up his sleeves and helps me. And I’m giving them the knowledge and the coaching and mentoring to, to succeed me.
Eduardo Lopez: I want to you know, my goal was to retire in the upcoming year in 2019. That was, that was my goal, unfortunately because of the market condition and the, industry sector that were in my position was eliminated in September. It was fortuitous, so to speak, because now you know, my better half, Patty said, Ed you have no other reason, but to succeed now, you know, go for it. And that’s what I’m, that’s what I’m doing. I’m taking everything that I’ve learned, while I had a job and applying it and it’s, it’s going and, you know, I’m going to continue to ride this wave. I’m going to continue to provide this knowledge. My, uh, my other son upstairs, that’s what he wants to do, is to get into real estate to get into what I’m doing and, uh, and, and find a career and a way of life. And so, quality of life is what I’m pursuing. I’m getting there. Knowledge is what I’m given to my children and I, you know, I’m going to continue to build wealth. And I don’t want to be a burden on my children and I want to be able to provide them something sustainable for the rest of their lives.
Josh Cantwell: Yeah, right. That’s fantastic. And then, you know, that’s actually a pretty regular recurring theme with our group. You know, guys that, you know, Eduardo, like Cheryl and Joe and Kyle and Mark Carmona from San Antonio and Mike Neil who’s also in the Dallas Fort Worth area. And Jeff Henderson who’s in Utah, you know, all of our different members that I’ve already mentioned. You know, I don’t think any of us really care about like driving a Lamborghini or having a Ferrari. You know, sometimes I think about a Ferrari actually a nice red one. But no, it’s not something I really care about. It could have bought one of those a long time ago if I really wanted more. So, for a lot of our members it’s a building. So, the growing something, it’s the entrepreneur in us. Real estate is the vehicle. We’ve chosen a and it’s a way to build something to get passive income.
Josh Cantwell: So, what I see a lot of our members doing, just like you as I want to build passive income on and add to my rental portfolio, I want this, this cashflow to grow and grow and grow and grow. And in the meantime, when it’s growing. If it’s, if it’s not yet enough to pay all my bills, if it’s not yet enough to provide me the lifestyle that I want, then I’m going to backfill that with a bunch of rehab flips and wholesale deals for current income today and continue to build an add to my cashflow. So, when I do decide to retire, whenever that is, that I have lots and lots of passive income and lots and lots of equity, which will then become a legacy for my kids. And it sounds like pretty much exactly what you’ve done.
Eduardo Lopez: I’m trying, I’m trying and it is happening, you know going, you know, I was very successful in what I was doing in my corporate job. But going from that to what I’m doing now I’m, you know, I’m continuing to build my portfolio, building that passive income. But I’m also building, you know, income through assignments and building income through a lending money now. And so, as I, as I acquire additional money, I either reinvest it back into the business or lend it out to other investors. And so, you know, I’m continually building different levers within my business strategy so that I can, you know, generate revenue in many different methods.
Josh Cantwell: Yeah. Fantastic. So, I know you’ve already mentioned some of this, but about property acquisition strategy, so I’ll skip that one because we already covered it, but for those people that are on the line, and lot of them start with real estate with a full-time job. So, one of the very frequent questions that I get is how do I do real estate as a side hustle, right? How do I do real estate part time so that I can add to the current income that I have and then eventually build up my security, my safety net to leave my job. That’s a very, very often recurring scenario. So just help us understand what was that like for you? How did you manage it all?
Eduardo Lopez: Well, you know, when I, when I first started, you know, I had a 401K, and so I was able to you know, from a side hustle, I was able to take that and was able to leverage a portion of that to acquire my first rental property. And then from there I thought, well, if I can acquire a rental property, why don’t I just leverage my 401K to do flips? And so, I leveraged that existing 401K to purchase or to fund the next, uh, three flips that I was doing and then, you know, through your training and coaching, I discovered, you know, hard money lending, and then, was able to, acquire funding for hard money. And so, in that situation I was able to realize the revenue from the flips and put those back into the business. Right.
Eduardo Lopez: And so, from a, from a side hustle perspective, you know, some of the things that I covered in terms of where you find your deals, you know, just some of the things we’ve talked about here. You can go back and listen to the video, but there’s many different areas of where you can acquire your deals and you don’t have to do, you know, five, six, seven, eight flips at a time. You start small a and you will learn from it. And that’s, that’s how I started. And so, and then, you know, coaching helps also, you know, what you’re seeing, what’s materializing at the work site, you know, exists, right? You know, you leverage your, your coats to bounce some of the ideas, you know, as a sounding board. And I was able to immerse myself in that in and learn a lot.
Eduardo Lopez: And every day I continue to learn, you know, we’re doing a, a, a pretty sizable rehab right now. And just, you know, from a zoning perspective, from a permitting perspective, you know, I continue to learn. I learned something today about that. And so, from a side hustle perspective, you know, consistency, I guess you don’t have to do all the, you know all the areas, you don’t have to canvas all the areas that I cover. Pick one, be consistent, you know, finding your first deal and don’t beat yourself up if it isn’t the first deal. I probably looked at you know, when I first joined Shrek, you know, I my first coach was Millen in the and so Millen. And so, you know, I’ve probably looked at maybe about 60 deals before the first one landed in my lap.
Eduardo Lopez: And it was a, it was a flip. And you know, I shared the data with Millen and then, you know, we got a contract on it. And that’s where it started. And then you know, four months into that. And when I joined the master elite program, there was a period of time where my goal was to do 10 flips and I even had a day job. And it was insane and I never made it to 10. I got denied and I backed off because it’s just craziness. Because my phone is literally blown up the entire day, couldn’t get any work done, but you know, you start small and you don’t have to compete and you know, you, you do what you’re comfortable with. And that’s what I did. And so, there’s many different funding techniques out there, you know, I’ve raised more than 600 k of private money to continue to feed my business, to do these flips. I do a lot of joint ventures with some of the other investor partners. And so, uh, you know, funding the deal isn’t an issue for me and as more and more you do, the more and more you discover and you begin to build that relationship, that investment network that you need to make you succeed.
Josh Cantwell: Yeah. Yeah. It starts just with one. It doesn’t matter how it gets done, wholesale deal, whether it’s your own money, whether it’s private money. And that’s really what I love to teach, right? Because I’ve always said funding equals freedom. You can make a lot of money wholesaling and a lot of our students do that, but my big focus for all of our students is owning assets, owning big rehab flips, big rentals, pools of rentals, duplexes, apartment buildings. You know, I just met with a good friend of mine, Tim for lunch today and he’s got a 407-unit apartment building down in Georgia that we’re going be putting a couple million bucks into that. And that creates passive income for my investors and for me. So, whatever it is, that’s my philosophy has always been like, start with the big assets. Go after the big stuff. You don’t have to start with wholesaling.
Josh Cantwell: But like Eduardo said, if I got nine flips, I don’t want to take out any more. Well then, it’s like, okay, well now I can back flip with some more wholesale deals, some more singles and doubles while I’m waiting for my grand slams and home runs to pay off. So, it doesn’t matter if you start with wholesaling and move up to your big flips. A lot of my students just start with big flips and then they back fill the free time or the extra deal flow into wholesaling. For, you know, just consistent cashflow. It’s very, very important. But it’s good now Eduardo because you’ve got, you’ve got all this free time to just focus on your real estate business only, Huh?
Eduardo Lopez: In fact, when I picked up the last three weeks or two weeks is, I really began to build a name for myself here and I have other investors that are contacted me to do their flips. And so, I’m earning revenue, project managing flips and right. And then that only, it doesn’t require a lot of time. I have three active crews and so, you know, I keep them busy and hungry and I might even interview a couple of other crews. And so, I’m beginning to build on another side business. You know, flipping houses for other investors, other large investors, you know, so there’s a, there’s a multifamily that one of the investors just purchased. And so, he’s serenading us for some bids to come out and take a look at that, but chances are we’ll probably pick that up as well.
Eduardo Lopez: And so, you know, you don’t know where this business is going to lead you. And so, you know, my goal within the year, within a 2017 to this year was just to do two flips and two rentals and I never knew it was going to lead me here. And it’s just opened up so many opportunities. You know, assisted living a is something that I’m getting into, in looking to pursue. And so a multifamily and, you know, in the commercial space and, you know, there’s a lot of your students that are in that and they found great success and, you know, that’s something that I’m looking to pursue. You know, when we talk about the big hairy audacious goals for the upcoming year and that, you know, a multiyear view assisted living is something that I’m going to get into multifamily and I, you know, in some of the 401K management and, you know, a lending money.
Eduardo Lopez: I’m even attending some of the local 401k investment clubs and aggregating, uh, you know, investment opportunity is lower than 20k so that we can put together a large sizable portfolio and then lend that to other investors. So, you know, how would I have known that you know, life is going to lead me down that down that space, unless I’m actively living it on a daily basis. And you, and you’ll see these opportunities when you jump in and, you know, coaching is a, is a big piece of it too.
Josh Cantwell: It started with our sort of online group coaching. We call it 40K flips now we call it One Flip. And then he enrolled in a one on one coaching program on the phone, with one of our coaches Millen Atwood, and did that for three to six months. And then came to our event and invested enrolled in what’s called our Masters Elite coaching program, which is a full year of coaching and consulting. So, Eduardo’s success has been taken to the next level and the next level and the next level. Partially because he continues to associate with people at a higher and higher and higher level. So, Eduardo, I just want to acknowledge that because you probably wouldn’t be here today doing all the things that you’re doing unless you continue to kind of force yourself to associate and move up your game. Talking with networking with, getting coaching from more and more elite people. So just maybe talk to that for a quick sec. What kind of thing? What does that mean for you?
Eduardo Lopez: Well, you know, the, the philosophy stands, right? I mean if you want to better yourself, you’ve got to find people that are better than you. You’ve got to find those people that have done it. You’ve got to find those people that, that have found success. And so not only, you know, have the coaches found success, but so I have the students, you know, the masterminds. It’s just amazing, you know, how you know, how ideas and opportunities are presented that you never even thought of. You know, I’m a very analytical person, but you know the last mastermind that I attended, just some of the ideas that came out of there that, that just blew my mind. And so you know, coaching is, you know find success in any, in any sport, any industry that, you know, if you want to better yourself, you know, you find a coach, you find, you know, the, the, you know, that, you know, that have found success in the past.
Eduardo Lopez: You’ve found, you find the coach said that has done it. And, uh, you know, your, your coaches are very, very impressive. I mean, there’s nothing much that, that I haven’t asked that they haven’t given me a perspective that I didn’t think of. And so, you know, a good coaching, good coaching, it’s important, it will be the accelerator that will catapult your career. You can try it on your own, but I will guarantee you that I wouldn’t have been here, I wouldn’t find this success. Uh, had I not found this coaching opportunity and you know, I’m going to continue, uh, to find coaching, you know, because coaching doesn’t stop a year one, year two, you continue to invest in yourself. It’s an investment in yourself. It’s an investment in your family. It’s an investment in your life.
Josh Cantwell: Absolutely. Absolutely. Here I am, 13, 14, 15 years in the business and I’m still investing in Master Minds and being around amazing people and you know, I go to a different life coaching events. I’ve been to a Tony Robbins in the last year with my wife and, you know, continuing to invest in those kinds of things because you know, you don’t, you don’t want to ever stop improving whether it’s a relationship improvement, whether it’s raising money, whether it’s in finance, real estate, you know, maybe it’s learning about assisted living. Maybe it’s a better relationship with your kids. You know, there’s always other people have something to share. Speaking of your kids, Xavier, what, what, what, what’s going on with you now? What role is it saved you’re playing in the, in the business today and what is he up to? How is he creating value for the family? What’s going on bud?
Xavier Lopez: So, I’m just, I’ve been doing the past few months or almost the whole year is that house he was talking about that he had gotten up in Cedar Hill, a five Thousand Square foot house. And that was my first. That’s my first big project he has me doing. So, I was just going to the job site managing with the contract or meeting with contractors, subcontractors, sourcing materials make things are going smoothly and that kind of stuff, you know?
Josh Cantwell: Yeah. And your how old?
Xavier Lopez: 21 now. I just turned 21.
Josh Cantwell: You’re 21 and your dad gave you a 5,000 square foot project to start with. Good for you Eduardo, don’t you know don’t take it easy on the kid, he’s capable, he’s talented. Give them a big one, man. That’s a good place to start now.
Eduardo Lopez: Yeah, he’s done a wonderful job and it’s coaching and mentoring and he’s also, he also learned, you know, project management skills, organization skills. You know, at the very beginning people didn’t respect him because of who he was and how young he was, but he earned their respect and the funny thing about it is when the contractors send us quotes, they sent it to him and so he you know, when uh, when uh, you know, you talk about building your team and you’re talking about the different personas within the team and you know, he’s an, he’s an integral part of my team and he’s 21, he’s got a couple of rental properties, you know, he’s got a duplex and that another rental property, he’s acquired and so he acquired those when he was 20 and so, you know, his next step is, you know, apart from a project management is, you know, to get him more into the transaction management and so learning more of the business and some of the things that we’re working on right now.
Josh Cantwell: Yeah, that’s killer. That’s awesome. Can you share how the coaching with Kyle helped you get to the next level? Like how was it, how was it doing the coaching with such a big distance between the two of you, because obviously Eduardo’s down in Texas, Dallas, Fort Worth area, Kyle lives up in Chicago. And do you think you’d be where you are today without the coaching from Kyle and from Josh?
Eduardo Lopez: Honestly guys, I mean distance doesn’t mean anything. You know, for most of my career I manage abroad and so you know, communications, lines of communications can happen over telephony, over, you know, the computer. It really doesn’t matter exactly. Hey, this is the first time I’m using this product and we made it work right, it is a beautiful thing. But you know from a coaching perspective how that helped me, you know, he sat down, he reviewed the goals.
Eduardo Lopez: You know, it’s very important, you know, not a single business pattern can be applied to everyone, you know, what is it that you’re trying to achieve? You know, we sat down with Kyle and we reviewed our aspirations, we reviewed our, you know, what we were trying to accomplish, we reviewed what order background was from a tool set tool, kit skills perspective. We reviewed that and we’ve, and we put together a plan in terms of actionable steps, you know, and you even, there was even boots on the ground. He actually came onsite and, you know, he met my contractors. Hemet my realtors, he went on the job site and a and looked at some of my work. He actually was the only guy that I was doing a rehab and you know, the backsplash granted was a different color than the actual brand itself.
Eduardo Lopez: And he looked at he. Why is it different? That’s it. You’re the only one that has picked that out. But in sincerity I mean, you know, putting together a concrete set of goals, putting together an action plan, executing on the action plan. You talk about scary. It was very scary and, but you learn so much and you have that sounding board that you, you know, there was times that I would call him out of the blue, you know, with concerns that I had. That job was going south. More plumbing issues were found. We found termites and you know the coaching and lecturing and the concentration that he would give me, would always helped me realize that, that, you know, we can work through this, right? And so, it’s that constant touch, that was being offered you know distance didn’t matter. Distance didn’t really matter.
Josh Cantwell: It doesn’t look, I just we invest in lend all over the country. We’ve lent and flipped houses in 25 different states. I’ve lent in 30 different states. Most of those properties I never saw. We just funded a 753-unit apartment building in Georgia that we never saw. We’re funding another 47 units in Georgia that we’ll never see. I just landed 35 units in New Orleans that I never saw. And so, we’re in a virtual world. A lot of things can be done via software is like this pictures video, you know online applications and platforms to get comps to get values. So, if, if you’re, if you’re thinking like, wow, that seems really advance, you just need to open up your mind more. Like that’s happening everywhere all over the country. And just, just really, really awesome.
Josh Cantwell: So cool. So, Eduardo final question because we kind of wrap up here and kind of round, round third base, use a baseball analogy and kind of head home. We’ll wrap this up in the next few minutes. Where do you want to take your business in the next three to five years to 10 years? You’re doing this full time now. There’s no more job. You have time, you’ve got three very capable sons who are involved in the business with you and you’re obviously taking on a lot of different investment strategies in a very short amount of time and just the last year or so, you know, you’re doing assisted living and rehab flips, wholesaling, rentals, private lending, you’re doing it all, but where do you see yourself in the next three to five years and then 10 years and beyond, where would you like to be, you know, and why would you like to accomplish that?
Eduardo Lopez: Let’s see. So, where I see myself in five to 10 years, honestly, within five years, I plan to put the business model in place where I can work when I want to, I can, take off when I want to, the business runs itself, you know. And so, believe it or not, that’s some of the things that I’m working on right now is putting the systems in place so that it doesn’t require me to be here every day. You know. So, when you first start in this business, you’ve got to wear multiple hats, right? You know, the office manager, the acquisition manager, the project manager, and, and so I hired a VA, he’s a superstar in fact, uh, at the summit.
Speaker 3: And one of the vendors there, gave a presentation, went out and contracted with him, outstanding. And so, I’ve hired my VA and he helps me with acquisitions, you know, putting, setting up the appointments, you know, for the contracts. I’m serenading a couple of good realtors, you know, to come on board to be my acquisition agents, you know, I’m beginning to cross train and Xavier to be my transaction manager. And so, putting the process in place is very important and it’s something that I’m going to diligently continue to work on. And so, within the next six months I plan to have the business in place where it doesn’t require me to be here every day. Right. And so, you know, within five years I imagine having a business that can run itself with minimal, with minimal effort on your part, you know, putting the systems and guidance and controls in place.
Eduardo Lopez: So, a five, five to 10 years, I plan to be taking it easy, retire, I’m done. Living it up and you know, leveraging the systems in business in place where they can take off one or two days, travel the world if they want to. And the business is going to continue to run. I mean, there’s a lot of your coaches today that do just that and that, you know, from a business evolution perspective, that’s where I’m going. Right? And so, and so, you know, wealth is going to come from that and we’re going to continue to build well, in this business and it, it, it can take as many different areas. But that’s where I see myself is, is putting a business in place where I don’t have work as hard as I do and not even work at all, enjoy my family, enjoy my grandkids in the future. And so that’s where I plan to be, but you know, I’ll be in the multifamily, I’ll be in commercial, I’ll be in assisted living, I’ll be in lending and probably somewhere greater than that, right? But first and foremost, I’m laser focused on building the system, building the business so that I can take off and, and let the business run itself.
Josh Cantwell: Got to be in sprint mode when you first get started, you know, when you’re in sprint mode and accumulating a lot of deals, but also every deal is an opportunity to learn. So, the faster you go, the more speed you have, the more you learn, the faster you learn, which just makes you a more capable, more equipped investor. So, you know, there’s a big difference between people that I’ve mentored and coached and guys who, you know, after 12 months they’ve only made, you know, two, three, four offers a month after, you know, those 12 months they’ve made about 50 offers versus the guys like a Joe Grieves like you, you know, like other students we’ve had who will literally make 50 offers in a month and every month thereafter. The knowledge that you’re accumulating, and you know, looking at deals, making quick decisions, exit strategies, deal analysis.
Josh Cantwell: You’re getting 12 times as much over the course of a one-year program. So, speed sprinting is important. And at the same time, keeping one eye on, okay, what have I learned? What system can I build? What system can I build from what I’ve learned so that the next person can step in the next time. And they can you know manage the deal. They can manage the system. They can manage the contract, they can manage the general contractor, the wholesale deal, they can do it next time. So that’s really what business is all about. That’s not a real estate. Um, you know, lesson. That’s an entrepreneurial lesson. It’s doing it, doing it, doing it, doing it, and keeping one eye on, okay, I’ve got a backfill with this system. I’ve got a backfill with the system. I’ve got to backfill with a document, got backfill with a checklist that will make this the next time I don’t have to do it. Even if I do, it’s faster, it’s easier.
Josh Cantwell: And that’s where I think that’s a difference between an elite entrepreneur and somebody that just makes a lot of money. Somebody that makes a lot of money can make a lot of money doing it, doing it, doing it, doing it in and elite entrepreneur, we’ll do it, do it, do it backfill with a system that they don’t have to worry about, you know, a falling apart or breaking or anything like that. So, Eduardo you’ve come a long way, my friend in any year, a long way. So, I just want to say congrats. It’s a man, it’s been awesome to witness, but awesome be a part of. And I appreciate jumping on here tonight.
Eduardo Lopez: Thank you. Thank you, guys, so much. And like I said, Josh, you’ve provided me a wonderful opportunity. You’ve provided my family, and, and that, you know, it really touches me because a, it’s going to be something that’s, that has changed my life and I’m going to continue to grow and, you know, to your point, you know, I’m becoming an entrepreneur and there’s just so much that I’m learning as a result of doing this. And so, this opens up so many doors for you. And so, guys take advantage of it. I mean, you know, very, very rarely do you get an opportunity, to be part of something like this and, and the sky isn’t the limit. I mean, you can even go beyond that and so take advantage of it. Take advantage of, this training, take advantage of the coaching, and just make a better life for yourself.
Josh Cantwell: Yeah, that’s fantastic. So, as I mentioned when we first got started, Eduardo was gracious enough to jump on tonight. He’s a busy guy. He’s also going to be out at the Flip and Fund Summit in Vegas. There’s a lot of reasons to attend. If you go to FlipandFun.com, you’ll see that special offer, you’ll see all the reasons to be there, but one of the reasons you should be there is because Eduardo’s going to be there. I’ll be there. My coaches will be there Eduardo’s going to be there. He’s going to jump up on stage, teach a little bit about some of the strategies that he’s using, talk about some of the deals he’s closed, you’ll be able to talk with him, you know, live and you know, just kind of learned through Osmosis, learn through some of the things that he’s done.
Josh Cantwell: And so, look at the Flip and Fund Summit is an amazing opportunity. I love it because for me, I get to coach a massive crowd, you know, 100 people, 200 people, 300 people. I’m get to show up. I get to coach a massive crowd for three straight days and give everything that’s up in my head, give it all to them in 72 hours by the time it’s over I usually just want to sleep for a week. Oh God, I’m so tired, but it’s so much fun for me. And so Flip and Fund Summit, It’s not a networking event. It’s not a seminar. It’s not a pitch fest. We don’t have anything. Nobody’s going to come in from any outside speakers and sell anything. It’s just us. It’s just me, my students coaching students, our members, our coaches and it’s just content for three days and Eduardo was obviously there, loved it, decided to jump to the next level.
Josh Cantwell: And so, I hope all of you jump into you know, right now, this week only we’ve dropped the price substantially and get a price is going to go back up on Saturday. Seats are just 197 bucks. And then also includes access to our Accelerated Investor Wholesaling Academy, a 30 days access to our software Accelerated Investor Office and the Matrix Deal Analyzer. So, if you’re going to come to the event, I would highly suggest that you get enrolled today or tomorrow, because come Saturday price is going to go back up and you’re going to lose out on some of the bonuses. So again, you can call 216-716-7720. Or go to FlipandFun.com. So, Eduardo listen as we finish up here. Is there any kind of final words, parting shots, you know, any final pieces of advice, you know, anything that you would go back and say, you know, I would go back maybe 18 months ago and tell my former self this advice or you’ve got your son sitting there, you know, wear it over your shoulder? This is some advice I would give my 21-year-old son or this is some advice I’d give myself 20 years ago. What’s maybe just one or two pieces that you think you can pass along to our audience tonight?
Eduardo Lopez: Well, so I guess fear. Don’t let fear guide you, seek knowledge, get coaching, get training. You know, if I would have done something differently, you know, two years ago when I first started, had I known that it existed, I certainly would’ve started back then and I would have, I would probably be in a much greater place today. Likewise, you know, even Xavier sees the opportunity in coaching, even my younger son sees, you know the opportunity that this has given us. And so, don’t let fear guide you. Seek training, seek self-improvement. Seek coaching, as an accelerator, to a better place in your life. Is what I can say, Josh, I mean, again, thank you. Thank you. You’re wonderful coaches, your staff. It’s an outstanding program.
Josh Cantwell: I appreciate that Eduardo so much. Thank you so much. Thanks for sharing everything tonight, from the acquisition strategies. There’s a couple more people that have asked about acquisition strategies and Eduardo covered that at the very beginning. So, if you miss that piece, go back, listen to the video. Either we’ll post this on our blog or we’ll post this on Facebook, go back and listen because we covered that at the beginning of the call. We talked about funding. Talked about deal acquisition. We’ve covered a lot of stuff and so, you know, this is, this is really fun. It’s nice to just get on and kind of spitball with you Eduardo and not have a super tight agenda and just tell stories and just, you know, just enjoy some time together. So, I look forward to seeing you in Vegas in a couple of weeks.
Eduardo Lopez: Absolutely.
Josh Cantwell: Sounds good. Well, listen to all of our audience that’s here thanks so much for being here. As always, like my friend Joe Namath who is in my market is a local investor. He wholesaled me a number of properties and he’s also a coaching student of ours. He said something a few weeks ago that I thought was really cool. He said, we all do better when we do deals together. And I thought that was really cool and you know, we funded lots and lots of deals for our students. Our students are wholesaling properties to each other, they’re doing rehabs together, their joint venturing together and then they’re also sharing their war stories together and I think that’s the most important piece is the community about being together, sharing ideas, latching onto an organization and a group that you have a lot in common with and that’s what Eduardo did. That’s what a lot of other successful students have done and so all of you, if you’re kind of on the fence or you’re not tied in, you know, just encourage you to take that step, get tied in with us.
Josh Cantwell: Come to the Flip and Fund Summit, you know, be on our live calls, you know, engage with us every week on Facebook or whatever, wherever you can be on one of our live classes, just if it’s not with us, get with someone or some organization, some coach, some mastermind that you can be a part of because it’s been a huge part of my success. Huge part of Eduardo and Xavier’s success is just being connected to a dynamic and fun community. Made sure you do that for yourself. You don’t need to go at it alone, you know, don’t, don’t climb the ladder of success by yourself. Do it with the group. Do it with the organization. It will be way more fun. You’ll learn way more. Of course, I hope it’s with us, but if it’s not, just go join someone. Spend time with someone. It’s going to elevate you to the next level. So, to everybody. Eduardo, again, Xavier, thanks so much for being on tonight. Really appreciate you guys. Absolutely. And uh, we’ll see everybody, the Flip and Fund Summit. Thanks so much for being here tonight. I look forward to helping all of you guys achieve your goals. You guys have a good night. We’ll talk to you soon. Take care.
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