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hey everyone me kevin here welcome back to another episode of confronting people about their real estate we did graham stefan's boss we did andre now it's orion pineda and you've got a real estate operation can you give me just like a 30 second overview of how many employees you have what it is you guys do and and how many properties you're dealing with every year yeah so we have really three main real estate businesses um this is the fix and flip business so we've got 60 flips right now here in vegas active oh so this means like either they're on the market or you're renovating them or you're under contract them 60 at a time how many employees you have to deal with because you're not doing that at all no no no i haven't been to most of them but oh my gosh wait we got 60 properties under contract i haven't seen most of them this is amazing it's the system yeah we have a team um we have about 10 employees in that company okay um i have a brokerage with 150 realtors wow nice and then i just started a fund called pineda capital and we just bought a 334 unit was that the atlanta deal yes congratulations that flows then yes good job man congratulations so uh okay so you've got these three divisions uh we're gonna see today uh fix and flip here's sort of number one number two we'll see a little bit of where vegas goes in terms of variety uh but now i want to know of the three that you've got well you just started the capital fund what do you what do you like better flipping or mentoring and teaching the agents and running a brokerage uh definitely not the brokerage okay yeah i suspected that you know i'm not a i'm not even a realtor anymore because i just dude i like investing that's my thing that's the niche that's funny is when i got my real estate license one of the first things i learned is uh you don't make money selling real estate you make money buying real estate dude so that's amazing now it's what's cool though is your brokerage probably funnels you deals though oh yeah we sell everything through the brokerage we acquire deals we get all the publicity from the flips so it works out oh that's amazing okay so tell me what are we standing in front of here you said this is different from your flipping business this is actually for you personally something you're doing okay tell me about it so this one actually started as a flip we found it on the mls agent brought it to us we bought it for a million bucks and initially i'm like okay we'll put 200 grand into it we'll go sell it for 1.5 nice we're going to make good money but then you know like you know taxes are starting to come up and i'm like you know i think i need to start keeping some of these bigger ones because this is a big flip for us yes so i was like you know what i'm just going to keep it as a rental and cost segregated yeah get those right we're going to get a ton of write-offs with this perfect and you make content out of it so you can probably extend some of your write-offs as well yeah brilliant absolutely great so uh of i mean i don't know how much you talk about on your channel but you personally are you trying to do more flips are you trying to do more buy and hold now do you have buying holds or what do you prefer so up to before the funds i had about 30 rentals of my own and then we just bought that big building nice and i think now going forward with you know youtube and education and all these other income streams i can start keeping a lot of the deals because before my only income stream was fix and flip oh my gosh so it was hard to like try and keep them like hey i gotta sell these rolling them yeah so you're competing with open door zillow redfin and all of them how do you pull the margins i mean what's your usual return on a flip well right now so historically the last whatever five seven years yeah our average profit was around twenty thousand dollars and a normal house you gotta be good because you could have one thing go wrong yeah and that 20's gone well yeah you'd get some that made 40 some that made zero okay it averages to 20.
but this year with the market so hot it's been our best year ever we're over 50 000. congratulations but it's not i don't think it's any improvement in skill yeah it's just the market is just every time i go to sell i'm like oh my god and i'll tell you about that the next house we see what happened oh my gosh i'm excited to see that okay got it so uh flipping what about the clientele out here so do you get people who live here half the year are they living year round i don't know anything about vegas like when i hear vegas i just think endless land and you can keep building like how do you keep value here so take our good buddy graham for example we sold him this house that he lives in now okay and he's an example of a typical person who's making great money in cali they're like why am i living here when i don't really have to yes so he buys a house here in vegas lots of cali people are doing this when are you moving by the way i know right so we can sell you a house i got a bunch i can help you out you have a few realtors you could refer me to yeah or i'll sell you one of my own so you know i think you get a lot of people moving to vegas for taxes for affordability all that stuff but i think the locals here too vegas is becoming a lot bigger than just the casino okay it used to be hey everyone works on the strip yeah that's not the case anymore oh it's so it's just expanding to basically being this mecca where everybody's coming to yeah i see okay got it well i'm excited to see how this house so this one you're gonna keep but i you said airbnb as a potential yeah how are you gonna airbnb out here dude you'd be surprised there are people that are like hey i would rather live out here i don't want to be on the strip maybe they're gonna do some other stuff in vegas like go to mount charleston or you know we were talking about atving over here there's a whole bunch of stuff in henderson um also lake mead is really close so i think you're gonna get a different type yeah for reference we're about what 25 minutes from the strip and when we got here there were three atvs that quickly drove by but were larger ones what do they i don't know gabe do you know what these things are called the side by side yeah side by side large they were having a great time yeah uh and the weather's great right now oh it's beautiful it's 75 chilling this is great let's go take a look inside this place let's check it out uh okay so i'm trying to understand if you've got this really successful flipping business if you could go back would you have done the brokerage again you know thankfully for me i'm not super involved in the brokerage so it doesn't take up much of my time profitable oh yeah okay i mean for us we're just a high volume brokerage 100 commission just 500 transaction fee 100 bucks a month okay so the brokerage is very profitable because it's just low cost oh yeah we already have the building for everything else do they pay their own eno and yes like that okay so so it's really for you it's just uh hey we can mentor you we can give you some training but you're getting that monthly passive income essentially for me as the owner yeah my partner who's the managing broker yeah he's got a little more headache than me now how do you how do you compete with like the exp so we're also doing this hundred percent and they get that whole mlm model too yeah well exp is 80 20 up to a certain point yeah okay and then but yeah they have mlm and i think exp is great they actually have approached us i've talked to the ceo many times and he's like hey dude it's up to you if you want to do it i'm like i i like owning my own company oh to convert your model basically into yeah it's ah to fold it in gotcha okay but hey profitable you don't have to worry about it and that's what you started with right was the boat bridge yep okay started out as an agent in 2010 and would you say flipping is more profitable oh i was never a good profitable agent i might have made a hundred thousand like in 12 years or i wasn't even an agent for 12 years but my whole career as an agent i sucked okay i'm very fair but but flipping and investing yeah that's where i made millions yep good for you that's awesome okay so uh what do we have here i mean this obviously you guys have ripped everything out of here yeah how long do you have this thing so i think we've had this for two months now and initially we put it on the back burner because we had so many projects and get so busy with other flips to prioritize it yeah i'm like hey this one's going to take a minute anyway but we just got started on this we're demoing it cool thing about this you can see from there there's a guest house oh my gosh and that's why i want to keep it as a rental because you're talking double income now yeah exactly oh my gosh yeah tenant doesn't know if you have duke likes our house for the guesthouse it doesn't matter no it does so that's why you get the multiple levels here yeah none of that bothers you it does but you know that's one of the things too where it's like as a rental yeah people don't care it doesn't matter no that's a flip yeah people are gonna be like hey can you do something about this funky layout but i mean there's really not much you can do it's it's a pretty funky pass so your thing is just a restore it and then rent this thing out so a million bucks is what you bought it for right what do you think reynold was 200 200k yeah you guys just rip everything out we're gonna rip everything out and as you can see when we get to the backyard the guest house you know we're gonna spend some money out there too work to do up there okay gotcha so this front house was maybe 80 of that or something um yeah 80 to 100 just depends what we do oh my gosh okay uh well then again it's a million dollar house so it's an expensive neighborhood yeah we're going to put higher end finishes than we do on our typical entry-level home like you wouldn't spend this kind of money on a 400 000 house gotcha no no no our average on like a 400 000 our house we're usually averaging 30 to 40 30 40 okay yeah okay vegas is way cheaper than cali yeah okay you know uh that's uh yeah your median home prices which you mentioned about 400 000 for you just say 420.
okay so uh if this you're going to uh then rent out what do you think you can get so you're gonna be into this for uh you know 1.2 maybe some holding costs under one three yeah so the goal would be refinance it at one point five hopefully get where's the financing for 1.5 portfolio line of credit or something um there's multiple portfolio lenders we have um but yeah they'll give 75 to 80 percent ltd so hopefully they hit these people uh i'll give you some info thank you um but so hopefully we won't have any money in the deal that's the goal but between the two properties i actually did a youtube video on my channel it was like hey i could flip this i could make you know six figures sure i could but then you're paying taxes on short-term capital gains right you make 200 grand you're giving 100 of that away well and i lose the cost say that i could take on it yeah exactly so i'm gonna keep it um as an airbnb this would absolutely kill it we're talking 20 to 30 grand in gross every month oh my gosh that's incredible yeah so you've got that um but there's different regulations so i'm not sure if they're gonna let me because you have to be a thousand square feet away from another one oh my gosh i know there's one that's 900 square feet away from me oh so it's a land grab no it really is like if you get the permit the house becomes more valuable interesting no do you have to pull permits for all this that you're doing here now yeah yeah yeah okay yeah you try to stay away from that yeah yeah everybody wants to well i mean here's the reality of flipping houses if you tried to pull a permit on every property you could not be in the business no because it would take you a year to do a renovation well yeah and the margin is gone the timing is terrible like it just it doesn't happen no absolutely not so um okay what about uh when you i'm gonna try to tell you what i'm saying yeah let's check it i'll show you the outside well let's go look at the outside yeah uh oh what i wanted to say for purposes of taxes the cost sake that we keep talking about if you're going to be into this for 1.2 1.3 you'll probably be able to cost sag like 400 000 of this right which for reference could be like 200 000 of tax savings in your pocket so if your flipping team is giving you two hundred thousand dollars a profit now all of a sudden you're not paying taxes on any of this essentially 400 000 you're not paying taxes on any of that it's another basically 200 grand in your pocket just by holding this and now you're gonna be profitable on your airbnb well you think yeah it's i could have made 200 flipping it but i pay tax or save 200 by keeping it and make passive income grow my net worth it's kind of a no-brainer well and the more you can control the more you're just going to be on that compound interest ride of exactly i mean you get so outside of your fund 30 rentals yeah is this this is one of the 30 uh well now we'll have over 30.
now you have over 30. how many millions would you say in total were you 10 million real estate 20 million real estate dude i was actually talking about this the other day i think between i know for sure in flips we have over 20 million out that's your 60 bucks yeah we have over 20 million do you feel comfortable mentioning you personally uh me personally almost none of it only probably two mil oh of those clips yeah oh okay of the rentals that you have like the 30 reps um dude that's a good question i honestly don't even know ballpark 10 20 something like that nah probably over 10 yeah okay so yeah even if it's 10 million right you get one percent appreciation year that's 100 grand yeah that's like a salary for for a coder somewhere you know three percent appreciation that's like a good salary for like salesforce you know you're in cali so i own eight big bear rentals and um two more under construction but with those i bought them in the last three to four years they've doubled oh my gosh yeah yeah so that's why when we talk about like two or three percent appreciation it's like well the last 10 years we've been a little bit more fortunate yeah well if you get the right deal you know well that too so are you generally your rentals buying them as fixers and then fixing them up yep because you're not afraid of doing the work i mean that's why we're getting a deal there you go exactly buy below market value what do you say to people who say today oh there are no deals to be had out there dude i mean everyone's getting deals everywhere it's just like if you're looking on the mls and zillow only then yeah you might be like dude where are all the deals but connecting with the agents you connect with the agents the wholesalers go direct to seller there's a whole bunch of things you can do nice let's go inside yeah in case you want the knowledge that i have in real estate as well a complete download of my brain for property management rental renovations construction real estate investing agent sales is available in the programs linked down below check them out use the coupon code that expires october 29th and check the programs out you will not be disappointed they come with private live streams as well take a look at the programs for all the details linked below your most successful direct-to-seller as you say cold call door knock postcards we spend about anywhere from 30 to 60 grand a month on tv commercials oh whoa so here in vegas i did one in 2013 here in vegas people recognize me on tv more than youtube wow but um i would say roi wise though the best is cold calling because it's so cheap you know you buy the data once you have it you have it and then just rinse and repeat grant cardone let's go next time make the calls baby you want 10x the money make 10 extra calls yeah yeah yeah okay so i see a lot of like ranch style properties out here as well yep uh some horses and everything yeah this is massive i mean you're what on almost an acre here yeah this is actually more it keeps going yep so this is what will make it valuable for somebody wanting to rent they're getting a totally different type of house than vegas right like land is in in the normal houses in vegas dude everything is stacked yeah you come out here if you want to just kind of live like you're outside of vegas this is incredible yeah so this is the guesthouse what is like a two bedroom yeah well no actually right now it was originally used as like a work shed so it's it's just a empty so i mean is it tech like can you rent it out does it have to be permitted as a guest house well the square footage is already permitted okay we just got to put up some walls there you go okay throwing the plumbing a little bathroom in the kitchen you're good to go that's already unlocked and it's open and nobody's moved in yet okay wow hold for one second how they're gonna go about creating this yeah so this is uh so do you have contractors or handy folks or how does this work we hire gcs um once you get to the level of flipping 60 at a time we don't have time to sub every little thing it's like yo you handle everything yeah charge us a premium exactly deal with it and so you have your contractors know exactly what your formula is what you want to spend money on what you don't want to spend money on yeah that's good because most people they get started with their first home remodel their first contractor they're spending 20 grand on a bathroom like a dime you're getting taken for a ride yes yeah for sure wow but so that's why you have so much volume you could keep these contractors busy so you have that relationship yeah well we know what things should cost yeah we have the cheapest pricing on materials we give them volume they don't have to go look for work yeah so we're definitely getting things way cheaper than everyone that's so critical is is when you get into real estate is uh the more you do it the more you understand what things should cost yeah and somebody again bathroom 20 grand you're like yeah no well and if you take for example uh if we just do an entry level flip and we pay a contractor 40 grand if we did it ourselves we could probably do it for 30 to 35 but it's just too much headache sure now you're taking all the liability if there's a mistake it's on you the contractor and now when you go to sell them you could say it was all done by a licensed contractor right so the last thing you want to do is get into that because if you're the licensed contractor that guarantee goes back to you right so one of the cool things about selling real estate when you flip it is the houses are sold as is so it's almost sometimes feels like that guarantee kind of extinguishes someone else you know and i'm sure you've experienced it you know in repair requests and after you sell the house we'll get people sometimes they're like well you know this is this and i'm like dude did you want a brand new hat like this is not a brand new it's not a brand new house like if you wanted a new house you could have paid twice as much go buy new construction somewhere yeah and then they're buying as is yep all right so uh okay so this is what you'll make into the guest house essentially yeah there's a garage room over here yeah so what we'll end up doing here is a stand-alone house it'll be a two-bedroom with its own little mini kitchen it's own living room it'll have two bathrooms we'll make that one a bathroom um go flat about or there's already a little bathroom there we can extend it so this house by itself will rent for this is great that's awesome okay and so let's see the rest of my house so let's get to that completed flip yeah so how do you source this one so this one was agent relationship you found it on the mls in your brokerage no this guy was actually outside of my brokerage so are you afraid of paying someone else a commission because i hear this crap all the time people are like oh well i'm getting my license so i can get my own deal and save the three percent or two percent commission yeah well let me say this actually now that i remember it the agent who found this ended up coming to my brokerage um after so oh now he's in the burger but uh no i work with agents who don't work for me i work for agents or work with agents who do yeah and i don't care i tell everybody like look if you make six percent i don't care yeah i just bought a wholesale deal from an agent for 200 000 wholesale fee okay like i just don't care he made two hundred dollars i made 200 000 wow but it was a great deal for a great deal for me like i don't care what anyone else makes yeah if my numbers add up if your numbers make sense do it who cares yeah you don't have to try to monopolize everything no dude look those people dude to find a deal we know it's hard yeah you should be rewarded you should yeah absolutely that's that's well said all right so you got a pool how okay how valuable are these in vegas because in california in my area some people see them as a liability they're kind of like i don't want to maintain it but in vegas it feels like you almost have to have a pool yeah vegas people definitely value pools um if you're dealing in this price point million plus yeah you better have a pool oh wow yeah okay on entry level they maybe add 10 20 000 in value sure but up here like there are people there's people if this if there was no pool they buying it so and that's always interesting to note when people spend 100 grand building a pool you're getting like 10 20k in value of those 400 000 homes not worth it yeah not worth you wouldn't add it on a flip average no so we have a couple other luxury flips we're doing where we're adding a pool it's gonna cost us like 60 grand each pool but these got to be million dollars yeah they're a million dollar plus because they're gonna add two 300 000 in value so why are you getting that multiplier on the these expensive properties versus the small ones well i think the deal itself we got a good deal because the seller knew they didn't want to add the pool they didn't want to like deal with the headache and so that was the only downfall along with the renovation of the house too so that was already discounted in for that right whereas probably when you're in the more median neighborhoods you're kind of constricted by what the other comps are anyway yeah you would never put a pool in an entry-level home it will never make sense perfect unless you're the homeowner who's over improving everything yeah exactly okay perfect so let's continue on wow uh what i mean you ever get worried that like some of the stuff you buy and hold it would become less valuable as they build more or not really are you just getting population but to offset that yeah vegas is getting so many new people that i'm not worried about it i mean i've been in real estate since 2010 it's done nothing but go up and i know like you talk to everyone else and they're like oh well just wait for the next yeah you haven't been through a downturn i'm like well i'm not gonna bet that it's happening anytime soon you know and i think that's one of the biggest downsides is you constantly have individuals who say things like well i'm gonna wait for the next crash and they never invest and so they end up waiting 15 20 years then the crash comes they've built no assets so they literally have no money to buy the deals anyway is somebody like you who's got 30 rentals if there's a market crash you're going to go fine break the piggy bank let's refine some of these take money from here and let's go buy more the more assets you acquire the more prepped you are for when there is a crash yep so this is a funny story i um i did this is like a pig pen so i did a youtube video on this house because i was like hey this house is interesting you know i think i'm gonna rent it as an airbnb and so i said this is a little garden that you know whatever the owner had and somebody commented and said i lived in that house that was my parents house that sold you it and that was actually a tortoise farm oh my gosh wow that's incredible yeah so the tortoise were just having a great time okay i'll tell you one thing i might add if i was flipping it i would consider putting a two-car garage right here oh yeah because right now the house doesn't have a garage that's it's only negative because it got converted people want their toys in this neighborhood right so this is a perfect spot to build a nice and a garage is not expensive there's nothing in it now would you permit that we'd have to permit the garage yeah okay because you're adding all that new square footage yeah but that's such a pain in the butt man how does it take you to get permits out here it's bad in cali it's not as bad as cali but it sucks so i'll give you my my flip and big bear yeah um that was gonna be a rental but now is a flip because we've been waiting two years to finalize permits did you get reported yeah yeah that's seriously i got a look i got reported on one property because one idiot contractor rana saw at 6 00 a.m on a saturday morning like what an idiot okay so that led the building and safety department to watch my youtube videos go to all of my other projects yeah so now i have four in building and safety and code for stupid things yeah like kitchen remodel like really so it's so horrid now that the permit process is so bad just everywhere oh yeah it's like dude to build this garage how hard is it like i should be able to get a permit in two weeks you should be able to and build it it takes me longer to get a permit for a ceiling fan all right let's see what else you got there oh yeah yeah hey so i got your next youtube studio over here oh the little shed there dude it's nice okay better of air conditioning hey we can add it in yeah that's true so how like do you ever do mini splits down here just full on not fit systems here everything is pretty much hvac just duck everywhere yeah yeah this is i mean this is like a tough shed or something yeah dude look at it it's nice oh that's actually not bad you could definitely film in here yeah just some foam for the echo and that's it you're done this is this is very nice finished like this yeah i was not expecting this usually it's just like the wood studs yeah this is nice yeah easily add a little ac in there you're done you're done nice job sitting at solar or what yeah it does yeah it does i didn't even know thanks for pointing that out geez man you gotta get to the level where you don't even know what your properties have that you're buying back to ryan's level yep so wow so okay ah wow i mean i'm i'm surprised that you can pull the revenue you're going to where it is but i think it makes sense the more and more you talk about people with their toy haulers or or the atvs and what you can do here and you're also investing in big bear so you kind of know about that outdoorsy activity people love it especially with kova dude they're like oh man i don't want to be near people i want to go out in nature and have fun and yeah that makes sense yep let's um let's walk through and then get to the next property all right but this cool this is super insightful uh how would okay now i want to ask about your third business the fun why not just go around and buy up all these single families and rent them out that you guys are flipping you got 60.
you can turn those into your fund right now and you'd have 60 already right well the rental rates in vegas aren't great okay really okay so because we like yeah i thought the rentals weren't good in california they're not as bad as cali but you know like let's just say uh the median 400 000 house you're gonna see it after this one um i would guess that rents for maybe 2 000 yeah okay it's not great your payment's gonna be like 1700 on it yeah whatever okay and so it's like when you can go flip that and make 30 40 000 it just doesn't really make sense okay um so that's why the fund isn't buying single family here but we're gonna buy you know in places like georgia where it makes sense but are you concerned at all about poverty rate or population decline in certain areas in georgia um i mean look there's always pros and cons to every market sure but that's why you're getting paid more cash flow yeah compensated for that yeah so i mean there's no perfect market where you get cash flow appreciation you can't hire do you think you'd uh segment out your fun to where it's kind of like here's the high cash flow here's like the appreciation or like yeah so one thing that we learned from our very first race was people don't really like blind funds no they want to know what building it is and so what we've actually had to do is close the fund after this first deal to get our final investors in because they're like look we love this deal but we don't know what you're gonna buy after this deal and they really wanted to be involved at all those levels so just for transparency a blind fund means uh in you essentially are able to raise say five ten million dollars and then you go shopping for whatever you want right but it sounds like in real estate your investors don't like that they they want to know the address they want to run their numbers they're all savvy and so we got a lot we raised a few million blind right they're like hey ryan we trust you whatever you want to buy okay we're with it but all the guys who are above a million bucks they wanted to know hey dude what am i getting into and when we showed them that deal they said yeah we love that deal but we don't know what else you're going to buy in the fund and so i had to make the choice of like all right you know what going forward i'm just going to go syndication-based yeah where hey we'll close the deal on this one entity entity next deal you know exactly what you're investing in it or not yeah and i think it's easier to raise money that way probably and but see when you do it that way it's gonna be basically impossible to do single families yeah unless you just somebody selling a big portfolio ah okay okay we've been we've been sent portfolios in different spots we're like hey here's a hundred single family homes you know it's kind of like an apartment at that point that's true what do you say to people who are like oh you start going out there buying the single families you just wall street corporation driving up the rents you see those people yeah i mean it's just what's happening what are you going to do like the market yeah you're gonna complain like they see that dude they can get low interest housing is going up there's no supply rents are going up like it's a smart bet so in other words uh if rather than complain about it figure out how you could join and get into real estate yeah there's nothing to say it's just dude complain about it or get with it and then cancel rent all right let's get something yeah okay so like people actually value fireplaces no no okay no people don't care no okay yeah although it does get colder here yeah in the winter oh there's a staircase going somewhere here so this is the um converted garage oh my god this is a crazy floorplan yeah okay so that was you know laundry room this is where the garage would have led to but now this is but you know now that we don't have a garage like i said i think we may add one down there i wonder if you could get like just you even talk about just the tough shed ones yeah we could definitely throw and i don't know that you could really even tell the difference when you go into that thing that's nice that was nice yeah by the time i do an update there might be a tough shot out there you don't need to try to get that commission every single time and it's one of the things i learned i will say though it was very weird i let my broker's license expire for a few weeks because i thought i'm just using other agents anyway right and uh when i didn't tell folks that i was a realtor or broker they they were more reserved that was a little like weird experience i had yeah when i call now hey i'm a broker but i want to write an offer through you they're very open yeah and it's almost like once you're licensed within something to that effect but i'm still paying the other commissions yep yep i always let them represent me i'm like yo any deal you get bring it to me make double commission you don't even need to list it nice so tell me about the car why the car so this could be a rental property dude okay you know i was never i was a frugal guy for a long time um then i bought a tesla last year for the first time and i loved it and then um you know i've been switching out cars like every year so i drove the model x for a year are you buying or leasing them or what are you doing i was buying them but um i sold it for what i paid with just the crazy car market there you go and then um this is the first time i've ever bought a sports car in uh like my life wow i've always had suvs i mean i love this i i've never had a car like this with the exception of the model x yeah and they're so tempting i keep telling myself like kevin just just buy some more stock or buy a rental or something like that uh how is it now that you have it dude i love it you love it i like it i've told graham this too i'm like dude at some point you just gotta enjoy life like that's a good point you know not everything can be the best roi yeah that's true not not every starbucks you buy needs to be an roi calculation you don't need to roi everything man once you make enough you can you can start enjoying some things so but when you started when in 2010 it was a grind yeah and you're frugal yeah i'm frugal i mean i didn't buy the model x until 2020.
oh no yeah i had become a millionaire and done all these things and i was still driving you know a car i paid less than 20 000 for i think when a lot of people start they think they've got to uh almost start with some of the fancy cars or the fancy watches or whatever and and they haven't really built wealth yet right they're they're chasing a little bit of passive income here or there but then they're also spending that on their lifestyle yeah it's almost like they're increasing their lifestyle as they're getting passive income yeah for for you what was your priority just getting as many asses as you could building your wealth dude that's all i cared about was just living frugally reinvesting every dollar not doing any of that and i'll tell you the only thing that really changed for me was i mean obviously i started making more money but with content things started to change because you can start seeing like there's an roi in doing cool things uh yeah good point you know like buying this car not only does it make content it attracts people whatever like it'll pay for itself if you use it the right way and you don't want to be a douche with it and be like oh you know look at me in my lambo whatever but like with content and a following you can definitely make an roi with nice things that makes sense so but there's also that risk that of maybe sending that misimpression to newer investors right right or to the folks who are trying to get up and going and so i think always it seems like you regularly refer back to started off frugal yep 10 years of frugality essentially and these are the fruits of that yep now there are a lot of folks who are afraid of working hard i feel like in that grind what do you say to folks like that like maybe if you get a newer agent how does it work if somebody's just like i you know i want to put in maybe 20 hours but i just want to chill and enjoy life you know you only live once proud right like how do you respond to that man my thoughts on this have changed over the years because i used to be in the camp of like yo grind do whatever it takes like just eat crap until you make it yeah right but i've kind of softened my stance of like hey i do think there's a balance between working super hard but also enjoying while you're working like i don't think you should only work work work never treat yourself and do that i think there's definitely a balance but if you're just starting out you definitely shouldn't be buying a porsche you should you got to find the balance for what works for you and if you're not growing every year with your net worth with your career then you're probably too unbalanced you're probably partying and enjoying too much like you should you know kind of work harder so either you're you should be getting that raise at your job or getting a new career to bump your your salary into your top line right yeah we're building your net worth somehow every year every year you should be improving in all aspects that's my thing um but i just don't think that you should only work i think that's a mistake what do you say to folks who you know they uh they've worked minimum wage uh you know maybe they've graduated to be a manager or whatever but but their incomes under 50 60 000 a year what how can they graduate what is it a different career they need a skill set what do you say to those folks man i think they definitely need a side hustle and i mean with youtube and all these other things side hustles aren't limitless dude like real estate you know crypto and stock trading and e-commerce like the list goes on and on with all the different side hustles today now should it be a side hustle that has the potential of like taking over your primary or uh just driving uber you know it really depends what you want to do i mean for a lot of people uh i wouldn't drive uber but a lot of people like are doing a couch flipping side hustle that like that was my first viral video and i was telling people how when i wasn't doing very good at real estate or nothing i just started flipping couches you literally mean selling couches yeah i don't know about it okay so uh long story short before i started flipping houses i was flipping couches and i made 8 000 bucks a month doing that what yeah and so people didn't believe me i was like dude i mean here's how i did it and i did a youtube video on it so i did a youtube video on it and it's got over 700 000 views right now which is like my highest viewed video not even about real estate it's about couches and initially people were like oh no you're lying blah blah blah i'm like dude why would i lie about this this is so dumb and so people started doing it and they're making killings out there flipping couches now i see tick tocks about it i see youtube like it's crazy that like that side hustle has exploded wow now how do you balance the tick tock youtube and all these other things dude so last year i started my youtube channel i started tic tac and all that stuff and initially i was just like i'm making dude i was like you and youtube i was like i'm just making three tick tocks a day going crazy and it worked out um i think i've got almost 900 000 followers on tick tock and at this point i actually don't even make tick tocks anymore because my editors just repurpose all my podcasts and youtubes and put that on tick tock yeah do those do well dude they kill it seriously yeah for the i haven't made a tick tock in like six months wow so they just slice it up and kind of because on tick tock it doesn't matter how many cuts you have people just want quick info essentially yeah like if you just look um you can just see these things are getting so many views have you ever purchased a car at an auction oh wow yeah just have you ever house hacked just straight from your podcast yeah just quick edited oh and i can see they're they're kind of cutting together to speed it along a little bit throw the text on yep uh shane but so last month on tick tock i got 23 million views wow how do you uncut up content on cut up content are you able to monetize this um tick tock doesn't pay like youtube i mean the adsense is like a thousand bucks is it worth it it's not worth it as just adsense it's worth it you know brand building yeah selling my other stuff okay for sure got it now so why start a fund is this is this the next big thing for you uh why do you want to deal with the stress of these these millionaire investors calling you and and bothering you about these properties well for one they ain't gonna bother me don't invest they'll bother uh investor relations but uh i are yeah but uh crap i missed her thing no worries that's my fault i'm asking you about getting bothered by your sisters yeah no worries this is another area that feels a little bit kind of like out there so now why start a fund i mean it's kind of the natural progression like you flip enough houses you can only do so much with your own money um even with rentals and they're with a social media following so many people want to you know protest yeah and it's like i've been teaching people how to invest themselves for a long time they don't do it yeah well some do some yeah but there are some that are just like dude do it for me yeah okay and so now it's just kind of this next step and i mean you see what the biggest real estate investors are i mean they're all syndicating money and doing big deals and so that's kind of the next fun why not the biggest though you said the rent it wasn't good enough like you can't buy the apartment buildings here right okay um are you gonna go to florida or like i mean why atlanta so the way that we're doing ours is we're looking for really big deals okay um so we get economies of scale yeah that one property yeah um and then it's just a matter of we're not like looking any specific market like we're only buying in florida we're only buying we're using my network and all the people i know to just say hey send us any and every deal okay and you know anything that looks good we're gonna do our due diligence we're gonna look into the market the deal itself the apartment and if that lines up we're gonna buy it so it's not like with this georgia deal i was not looking in the georgia market it just came across your desk yep so how many employees do you have for the fun so the fund we have six people um and they're already people in my other companies so they're doing what they already do in my other companies for the fun so like for acquisitions all we do is acquire real estate anyway so now it's just hey i'm also interested in buying deals outside of it sure we'll buy huge apartments so acquisitions just changing that investor relations we've already got so many investors with the flips that you know doing it on a bigger scale it's not that big of a deal have you ever felt the urge to just have no employees no dude okay this was actually something that i thought about with you is like man because i seen you talk about it before where you're like dude i i do everything like i love it uh you know i'm a one-man show just crushing it i'm like dude i could never do that i have to have a team and people doing stuff because i just don't really like to work that much as it helped you like how many hours a week would you say you were uh probably at this point 30 oh wow that's impressive yeah okay and it's and you're running a good profit yeah do you ever talk about your numbers um can you tell us anything yeah i've done a youtube you heard it here first i mean yes i did a youtube video about six months ago about what i was making on different businesses can you give us the download i'll on the house living business this year we should do i mean it's hard to say yeah but we'll probably do three to four million and gross okay i'll probably net that myself half wow how are you getting that half because our margins are so high with everything we're doing like but this year's exceptional well it's still like the business itself doesn't change because most of my acquisitions guys are commission based so the model stays the same like everybody is only eaten if we all eat together okay so one and a half to two from that yeah uh fund is a ten-year thing yeah uh and then uh you have the brokerage yeah the brokerage yep can you talk about that so the brokerage the tax company i don't like to talk about those too much because i have partners maybe with all the other things you do because you then have youtube and courses and social media all of this yeah so i'll say i don't know what like the average is it just depends how you do it but i recently had my first ever million dollar month congratulations oh wow everything combined everything combined good for you yeah well congratulations that's amazing yeah okay very good insights let's uh let's keep going then so this is a finish flip agent sales link down below with a coupon code expiring october 29th so where are we now what is this 420 this this is listed at 420.
okay but this is a typical house in vegas this is the median price right around 400 000 so i want to show you because this is what every flip we do looks like see and that's smart having a standard for your rentals that way you're not emotional oh well this house should have this color that accent wall forget that crap same thing every single property that's how you scale this is nice this is what every flip looks like if anyone watches our channel i've kind of stopped doing before and afters because it's the same thing every time like guys you guessed it that's like me and i love the blue tape for the little paint shop i do the same thing and i love this because it looks good but it's probably like forty dollars doesn't cost anything it's great and i think people get sold a bill of goods when they get into home ownership often that they have to spend you know a thousand dollars on a chandelier yeah and it makes it light like stupid it doesn't come out and like you know give you a massage no we didn't do anything crazy but you could just get these uh i mean these are off the shelf cabinets here yeah very nice kind of craftsman style you do the same sort of black contrast i imagine every time this white quartz is the same this is what i use exactly the counter top that i used yeah uh very nice yeah i mean these do you ever buy them on amazon dude whatever's in stock today that's it right so this these kind of change because just like dude if it's not in stock just get a similar one don't order oh my gosh as soon as you get to custom order it's yeah it's ridiculous yeah it's phenomenal yeah same door handles hinges it's easy enough put the door closers on them uh people spend a fortune on appliances but come on man you can do an appliance package for like two grand well the other thing quick tip for anyone flipping typically you don't need to include a fridge yes so don't waste money on that if you're flipping the house good point uh and then these light fixtures you got up here these are like the boob light yeah that's what my wife calls them too yes they're like 20 bucks dude i don't cost anything so smart there's no sense in spending that kind of money uh on on light fixtures most people might notice they love your floor plan it's clean it's moving right if somebody really wants they're gonna change it themselves anyways even if you bought a hundred dollar one they're the type of person who wants to change it i want my two hundred dollar board good point this is a typical bathroom for us are you actually title yeah did you usually aim you left the tub yeah nice that's nice do you ever just glaze some of the older tiles we do yeah yeah it just depends on its condition yeah yeah well some of them you can't save yeah sure now do you ever go fiberglass from uh if you had to tear it out no it depends on the neighbor or just no no because for us the tile versus the fiberglass it's maybe like seven eight hundred bucks more okay and you have really good tyler yeah you got the master over here oh yeah and it's beautiful you went floor to ceiling on the tile yeah typically they would do the mosaic inside of here right not sure why they didn't but yeah it works better so any reason you go to the ceiling just your standard a lot of people stop two feet under once again i think sometimes they do sometimes they don't it really just depends and honestly once you've got your system down it's a difference of a couple hundred bucks probably yeah it's not a big deal great craftsman baseboard same thing three-bedroom home i mean you know it's like 1300 square feet easy this is what people should be starting with when they're getting into owning real estate because it's great and then you can you can move to the four bedroom and get another five percent down low yeah and then move to the five bedroom this is the most desirable type of home because it has a two-car garage the home's a little newer three bedroom you know the backyard it's not like the other house we saw but um the size is really good for las vegas yeah you got a nice covered patio everybody's doing the aluminum patios out here is that just the people don't want to deal with the rotting wood anymore which i think is great so we didn't add this you know yeah no i figured that but like you haven't dealt with so many properties out here everybody's got these aluminum covers yeah i don't think they're that much more and they look better they're much cleaner yeah they last longer they're not weathering i mean i think they're great yeah so i think california's got to pick that up one thing i'll say too for a quick tip for everybody is like in vegas we never do the backyard like whatever it is we're gonna leave it dirt and do you bring the rocks in them no these were already this was here yeah oh so you would have left this dirt yep if it didn't have really well especially in today's market yeah it doesn't matter they're gonna buy it it doesn't matter what are you gonna do like me spending a thousand bucks on rocks isn't gonna make any more money so don't do it yeah simple math yeah wow well i mean it's perfect and then the other little the other thing too that that's nice about flipping is that the buyers are going to do their home inspection yeah we're going to find a little chick and dooley stuff or whatever right just credit them a thousand bucks or with 15 bucks or whatever and then you move on to the next project well and the beauty of that is we always push for a credit because then it also limits your liability yes exactly so let them do it and the reality is they're going to take their 1500 you're going to go again yeah it wasn't a big money deal wants to feel like they have the max possible out of this yeah they're always going to ask you almost bunch of that in that front another quick tip for the viewers is blinds yeah a lot of people would put lines but once again they don't expensive homes in vegas you just told me there's a 25 million dollar home that's sold down there and they're below you yeah and there's the strip you're looking down on all the other suburbs so you were on this pile of rock i wonder what possessed you to buy this pile of rock and how do you even develop on this rock yeah so long story short um i was looking for a place to build a home so i was looking at raw land all throughout henderson so you found rock i found a big rock mountain i was like i want a strip view it's so beautiful and this guy had it listed um this whole development for 10 million and i was like well can you carve out just a little bit and long story short i ended up buying it for 620 000 the two acres right here okay and uh yeah i'm gonna build on top of that thing dude i don't even want to know how to start where you're gonna put all these rocks well they're gonna we can reuse those rocks as you know barriers and decor and other things throughout the property so retaining walls so they're actually going to be very valuable for us wow that's incredible so now you also mentioned that there's something about tesla homes coming behind you yep please explain okay so if we go over here this will give you a better view of everything i own you know obviously the peak right here all the way to that last light so if we walk and talk you know that's about two hour or two acres okay you see all this other undeveloped land right here that this is like tens of acres plus on the back side of it there's even more land that the same guy owns oh wow and he's going to develop like 80 homes in this community and they're going to be tesla homes um he's partnered with tesla every house includes a model three it's like it's a crazy development he's gonna sell each home for probably two to four million oh wow um they're gonna have strip views uh they're gonna have this whole community the only problem for him is me because i'm the only one not in the community and i'm the biggest like most just viewable you're the entry point yeah and i'm gonna have to use his entrance and everything that he makes for the community and you're gonna have an easement for this uh i'll have easement um so there's a whole bunch of things that are making it a crazy development is he trying to buy you out oh he's tried many times so you should sell it after he's done with his community or when he's in progress well i could flip that lot for a multi-million dollar profit we're just right now right and so what are you gonna build there i mean you said this is your dream home yeah so i'm gonna be building probably a 10 to 12 000 square foot home okay um a full indoor basketball court on top of that uh i've i've shown some of the drawings on my channel yeah it's it's insane i mean that's what are you gonna spend to build this thing that's the big question um there's no limit is what you're saying you know it's tough what do i want that's what i'm spending because you're taking the right office along the way taking the write-offs and like it's so unique that you don't want to like build it and be like man i wish i did this yeah okay and as we have a pool okay we're gonna multiple pools yeah we might have three who knows oh my gosh well hey that's that's what you get to do when you grind and you work hard and you invest right so one thing i thought that was interesting that you mentioned is you don't own any stocks no so tell me about this you know i think when you get good at one thing why try and reinvent the wheel dude like real estate got me to where i'm at today there continues to be even bigger opportunities in real estate dude i just can't read the charts like you all day no like there's just too much for me that's awesome but i i see i respect that because you know what you're good at and you're just gonna double down on that yeah good for you that's amazing now uh what about crypto so earlier this year i feel bad saying this but i had a million in crypto and you know it turned into like two million when everything was going on all of a sudden it went under a million when you know the big crash happened over the summer yeah and i was like dude i once again i had the thought i go why am i invested in this like i can't control it sure i'm not an expert in it you can't get it below market value like real estate yeah like i don't know if i'm getting a good deal or not it could go up tomorrow i could go down yeah and so i was like why like if i i for sure know i can win in my own businesses in real estate why not just put all the money at those that's what i did i sold and then you know i would if i would have just held sure i would have been up a million again but whatever but hey i respect that you know just yeah so are you gonna go back into or are you just like that's it i i got nipped a little bit whatever i'm sticking to the real estate dude i i've said this like i'll probably fomo back in respect the honesty yeah i so i ended up buying a hundred grand of ethereum um so that's like all i own right now but there i don't know dude i think i might get nfts though but on the business side where i make them oh because you can control you can go garyvee yeah i think that would be fun sell events and things like that because i have so many outside things that we can add value to the nfts so maybe that ryan this has been incredible yeah man uh this is like a deep dive into the world of writing we haven't even seen your office for other people this is just you you'll have to come back to the office man that'll be part two yeah anything else you want to add that i miss no dude you hit the nail on the head man i appreciate it how do people follow you dude um obviously follow my youtube channel too um but easiest way is ryanpineda.com you can see all the different businesses all my social media and that's the easiest way thank you so much man appreciate you dude awesome thanks so much make sure to subscribe follow ryan banana and we'll see you next time
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