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Real Estate Thought Leader, Cody Sperber - CEO of The Clever Investor

From Audio: Cody Sperber - The Clever Investor

Duration: 16:52
Cody Sperber of The Clever Investor, an 8 figure real estate company focusing on wholesaling, flipping, and online education speaks with 'Young Smart Money' Podcast about the importance of a mentor and exactly how to get started in the world of entrepreneurship and real estate.
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Cody Sperber of The Clever Investor, an 8 figure real estate company focusing on wholesaling, flipping, and online education speaks with 'Young Smart Money' Podcast about the importance of a mentor and exactly how to get started in the world of entrepreneurship and real estate.
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but I knew something was missing because I was trying so hard and I was like, I felt like I was sacrificing, I felt like I was working 14-hour days, I wasn't sleeping, I wasn't eating, I was just like trying so desperately to get this thing off the ground, but I couldn't do it. Well in the beginning when you're going through a process like this, you know, your friends and your family, they're like, oh that's cute, you know, it's cute like oh look at him, try to turn on and try to do something and then like I like the second or third month, you know my girlfriend was kind of starting to doubt a little bit. My parents were sitting me down saying, dude you're wasting time, just focused on college, just focus on going to school, focus on getting good grades. Like your your you know this normal people don't invest in real estate until you have money, why don't you just work your way up the corporate ladder and if you make a bunch of money at your career and you stay focused on your career someday, you can earn enough money that you can go and you can buy all the real estate you want. That was their advice to me, By the six months of me still not doing a deal now, people think I'm nuts right now, they think I'm like, in outer space because I was telling everybody I'm gonna get rich in real estate and now six months later, I'm worse off than before I started because now I have credit card debt, so I'm on this like path to try and figure it out. And by the 9th, 9th month, my girlfriend finally convinced me to just give it up. She was like, hey, I can't, you know, I can't, you know, now that's a couple of beliefs looping in my head, I'm negative, I'm angry. Everything sets me off and she's like, look, I can't be with you if you're going to be like this, like give it up dude, like it's just not for you. Put out a resume, go get a normal job and see if you can't figure it out over, you know, some years, but like just give up this dream. And so that's what I did. And at the time, uh there was another pivot point, I'm looking at the job postings, my girlfriend put a resume together for me and I'm looking at job postings and I'm going through all of them. I'm like, no, no, no, no. And I'm like, oh, what's this? Real estate developer seeks bookkeeper? I'm like, mm bookkeeping, What's bookkeeping? I was taking some finance classes. I'm like probably figure out bookkeeping. How hard can bookkeeping. B So I put in my resume. And the guy calls me up and he goes, hey come to my office tomorrow for an interview. So I show up at the interview and he goes, you know, I'm in my dad's suit. You know, it's too big for me. I'm just like goofy looking. Uh I mean I haven't really taken very many classes yet on finance. I've only taken like finance one on one. And this guy is like, hey mm hmm can you do excel spreadsheets? And I lied. And I'm like sure I could do excel spreadsheets. And he's like, have you ever you know anything about bookkeeping? And I'm like, oh yeah, sure. Yeah, I know. Whatever you need to know. I got it. He's like, all right, You can start tomorrow $34,000 a year and show up tomorrow. Okay. So I leave his office. I go straight to the bookstore and I buy book keeping for dummies and I read the book that night because I've never done books. I have no idea what I'm doing. I totally lied to get the job, but I wanted to see what a real estate developers operation was like. And so over the next few months I'm seeing this guy and by the way, he was an asshole, treated everybody like crap, thought he was above everybody, Just a horrible boss. And uh, but he was rich and he was making a lot of money in real estate at the time. And I'm watching because I'm running his books all the money coming in and all the money going out, all the money coming. And I'm like sitting there looking in the mirror every single night after sitting in traffic for an hour to get there. And I'm doing my schoolwork at night time, I'm totally stressed out, I hate the job, I'm barely making any money and uh but I'm looking in the mirror at the end of every night going, why can that guy do this? And I failed miserably and he's not smarter than me, you know, he's not he doesn't have any more capabilities than me, he wasn't born into money, he just, he figured it out, right, he's not even that nice of a guy. And uh right around this time, another pivot point, a good friend of mine came to me and said, hey, I'm going to this real estate seminar, you want to go? And I and his name is Zach and I said Zach, I've done that 100 times, like I'm not going to another seminar. Also I'm going to do is buy a bunch of crap, I'm not I'm going to get more confused, like I just don't want to do that again. And he's like, come on, just come, It was in san Francisco at the time. He said just come party with me, I'm telling you right now, if you just come and hang out, this is different than anything you've ever experienced. I've been to a couple of this guy seminars and he's the best I've ever seen, I promise you it will be different. So I went and talked to Shannon, my girlfriend is not my wife and I said Shannon, what are your thoughts? She goes, anything's better than you being a miserable, you know, S. O. B. All you do is complain about your crappy job first I thought it was painful that you weren't doing real estate deals. Now I know how painful it is, you quitting on yourself and working this crappy job that you hate, like that's way workers go to the seminar and just go have a good time. So I go to the seminar and I walk into this room And I swear I've never experienced anything like it in my life, there was 400 people in the crowd. Jack Miller was up at the front telling stories, it was just him and a podium telling the greatest real estate stories that I've ever heard. All these people were frantically taking notes and I'm looking around the crowd and I'm like, oh my God, I bought a course from that guy and I went to that guy seminar and I went to that guy's seminar and I bought his stuff and all of the gurus were frantically taking notes from Jack and I'm like who is this? Is this like the guru's guru, like who is this guy, and why is he so special? And over the next day or a day or so I realized like this particular group was unlike anything I've ever seen. They were actual dealmakers, real players, people that really, truly cared. It was like a real community for the first time. Everybody else was like, fly in, fly out, selling you crap, there's nothing for sale. This person was just loving real estate, passionate about what they did, and they were passionate about building their community. And so I got plugged into that and I went to lunch uh at the break and I went to the bar to order some food and there was this old guy sitting there and he had Adidas sweat pants pulled up to hear this old wrinkly polo shirt that you could tell. He washed 1000 times. It was tucked into his sweatpants. He had like those old people shoes, you know, with the velcro, like the clappers, like the big white ones, and he's sitting at the bar and I started talking to him. I was waiting for my food And I fell in love with this guy. Like he was amazing. He'd been doing real estate for 40 years and happen to have a house here in Arizona that he lived out your part time. And by the time the lunch was over, I was begging, this guy's name was Lyle. I said, lyle, you have to mentor me. Like I've tried desperately, I spent all this money. I've done all these things like I will do anything. I work around the clock, I'll bring you deals, I'll do whatever it takes. But you have to mentor me. Like, you're, you're the only dude I've ever met that actually like, is like the realist of the real deals and he's like, all right, I'll make you a deal. First off, you're gonna write me a big check. Second off, I'm gonna give you three strikes. If you are negative. If you say no to me, if you contradict me and and lie to me, you do anything, I'm gonna give you three strikes. And by the third strike, I'm firing you and I'm keeping all the money that you get a me. And that was my first mentor, right? And I left that event with hiring Lyle as my first mentor and that dude changed my life. He was the next pivot point because he taught me things you can't learn in books. He took me under his wing and he made me a priority. And that was the missing piece For me. I don't know if it is for everybody, but that was for me, is having somebody that's been there and done that has already spent 40 years building a massive portfolio, building wealth, learning all the hard lessons. But now pivoting and saying I'm going to make you a priority. And I think he saw a younger me and him, you know, I burned through two strikes pretty quickly. I learned very quickly that you don't mess with Lyle and his three strike policy and I was so scared to burn that last strike that I fell in line. You know, kind of like the military forces you to do. I knew that if I screwed it up again, that I was gonna get screwed. So um mhm. After hiring him, So nine months of no deal making Hired Lyle, we worked pretty hard for about 45 days. And that's right around the time I did my first big deal. And that first big deal changed my life because I made $40,000 on that first house. That first big house. That was more money than I made as an entire year as a bookkeeper. And I did it in a single deal and all of that struggle, all of that pain, all of that sacrifice, all of that money, invested, all of those painful moments finally paid off. And I realized and I transitioned from like hope to this is actually happening now. This is real to me. And I hope every single one of you guys watching this has that moment in your evolution as you're going through your pivot points and your re calibrations and your your path is just constantly shifting when you get to that place where you're finally, things are starting to click and starting to work and I'm kind of glad it didn't happen on the first month because if it did, it would have, I wouldn't have been learned as much, I would have appreciated as much, you know, I probably would have gone off and has done it as well as I have. But that struggle strengthened me because after I did that first big deal, I was empowered for the first time in my life. First off, I made a lot of money and money is power, right? And I knew that I was gonna be able to go out and do it again and again and again. And so, um, I was able to quit my job as a bookkeeper the next day I walked in and I said, hey, do them out, thanks, thanks for the opportunity. But I'm out. I was able to pay off all my debts, all that stuff. I even cut a check for my parents who, you know, nothing is better feeling in the world and taking care of loved ones, right? Like when you finally get there where you can cut a check and solve a problem for somebody else. Like it feels good to go by the car and I got a lot of cool cars, right? I, I drove in some of the best cars in the world. You know, Rolls Royce is, I've owned multiple Lamborghinis That that's all cool. But that fades really quickly. But writing a check to help your parents or you know, I retired my parents, I became a millionaire at age 28, a multimillionaire by age 30. I retired my parents right shortly after that And I continue to give my dad over $100,000 a year even even to the day, just for them to have cash for retirement. And it's the best feeling in the world, Way better than anything I could ever buy for myself. And so I got to that point where I closed that deal, quit my job, paid off debts, help my parents and I rushed out and I bought my girl a ring, An engagement ring with the rest of the money blew through the rest of it. And uh, you know, proposed and said, Hey, you ready to take this ride with me. Like this is it like we're getting on the rocket ship now because it's clicking. Finally like all those seeds I planted, all those relationships are starting to pay off. And uh, The distance between Deal zero and Deal one was about a year. The distance between deal one and detail to was probably like another like month Then between deal to and deal three was like two weeks and then it's shortened and before, you know it, I was doing a couple of deals a week before, you know what? I was doing one or two deals a day and it just, you know, I started scaling it and You know, my first eight years in the business, I probably bought 12 or 1300 houses, maybe something like that. That wasn't a home ceiling. Um, yeah. Wholesaling. Oh, okay. A lot of holes. But I was doing rehab towards the end. I started doing a lot of rehab and you know, was able to ride different market cycles. I've now experienced a full entire market cycle, um, from the market doing phenomenal to the market, completely imploding to the market now doing phenomenal. And I do think that it's going to shift here soon. So I learned a lot of lessons of different investing strategies that you want to deploy during different market cycles. Yeah, Amazing. That was, I mean that's dude, what the right, I just took you on. There we go now. You know, the whole evolution because people think it's like a straight line a lot of times and it's never a straight line. Yeah. Up and then I quit and then I'm back in and then I'm like wanting to quit again and then somebody else comes along and like relationships, pivot points, recalibration is, that's, that's what life is. 100%. And I think that's really important. You brought that up and I want to have a bit deeper on pivot points because a lot of our younger listeners, like you said, have that expectation that everything is just gonna be a straight line. Like they're going to have one good idea, they're going to hit it big on Shopify and like tomorrow they're going to be a millionaire. So talk to us about those pivot points and how it sounds like for you a lot of times, correct me if I'm wrong, but pivot points were happening when you change your environment or some kind of like big event happened for you. So how how would you advise a younger listener to think about how they can start to create those pivot points if they feel like they're not on the track that they want to be on right now? Yeah. And I have, you know, I've been so blessed and fortunate to have uh gotten into social media early. Really well in a lot of different platforms, have millions of social media followers, I have a lot of young followers and I tell them if you don't know exactly what you want to do with your life yet, and you're still trying to figure out what your passion is, what your purpose is, where you want to go. And I think all of us kind of have some idea, but actually, You know, making money from it or uh, you know, going in building a career or life around it is a little different. And so what my recommendation always is is if you're not 100 in lover focused on one particular thing to create those kind of pivot points, what I would do if I was to go back and start all over is I would pick an industry that I was interested in. So maybe for me, marine biology or history or real estate or whatever, I would pick an industry and I would try to find whoever is really good in that industry, find a good, good, either a good business or a good person that's working in a business and I would literally go and beg for a job. I don't care if I have to work for free, I don't care if I have to start in the mailroom or sweep or be someone's, you know, personal assistant, I would do anything to get proximity and get into that industry and I would work that industry as hard as I could at whatever job got for six months. And by the end of six months, if that person I was looking up to didn't continue to inspire me, I couldn't totally visualize me doing this for my life. I wasn't falling in love with this industry. I would quit on this exact day of the six month and I would shift to a completely different industry and I would do it all over again. And you have this weird moment in time where you're, when you're really young where you don't have the pain, you don't have the pressure, you don't have the back story, you don't have any of that. You have complete freedom to do this crazy concept of jumping shifts for six every six months into a different industry and when you fall into something and you start to really, you'll, you'll get that internal feeling like, wow, this is so exciting, I really love this. I could see myself making money from it, then lean in on that and, and you know, consume it and dominate it. But if that's, if you're there for a few months and you're not loving it, it's not like, hey man, I got to get out of this, I gotta, I gotta shift something else.
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