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Nov. 16, 2022

Ep 269: Successfully Unemployed and Community Building With Dustin Heiner

Ep 269: Successfully Unemployed and Community Building With Dustin Heiner


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0:00 Welcome to today's show. My I'm your host, Dave Martinez. I'm here with another episode. We're interviewing a special guest. Mr. Dustin Heiner, his whole thing is to help people get into passive income and eventually retire. He's wearing a shirt that says successful unemployed, and I hope people will strive to that. And here's our guest, Dustin Heiner, how are you doing today? 0:23 Hey, Daniel, I'm blessed man. And I really appreciate you having me on the show. Yeah, I'm an investor. That's literally what I am. And I was blessed to be able to quit my job when I was 37 years old. And I like the term successfully unemployed. And it really just, it's the freedom that it gives me and, you know, I go to the gym in the morning, I come back and you know, hang on a podcast, Todd, great people like us. So I appreciate you having me 0:44 on the show. Yeah, man, Holly, you've been a real estate. 2006 is when I first got started. So you're Wow. Okay. So 15 years, here's what 16 years now? About to be 70. 0:55 Yeah, and I mean, seeing the, obviously, the grown up back in 2006. I mean, it was still hype and craziness. And then the crash in 2008. And I couldn't buy enough property, like I was buying so many properties. In 2009 1011 12. I just kept buying properties and each one for passive income. That's what I love is passive income. 1:15 Yeah, I'm actually had a conversation with a Lyft, Lyft driver the other day, and he was a mortgage originator. So I'm gonna bring him on the podcast. And I talked about mortgage loans back in 2007 2008. Eric, because me personally, I've only been in this about four years. So it's kind of interesting. 1:33 Seeing totally different. 1:36 Back and back years ago. Well, 1:38 I mean, the difference is, we've in the last, what, 12 years, we've only seen up up up up markets, like it's always been great. And so I'm glad that I went through the crap, you know, like 2010, it was ready to crash, but like 910 and 11, like, and so I've seen that, and then see what's happening now. And so not jumping into the hype, are they saying you better buy now, or you're never gonna buy like, I've heard that before. And I've seen a lot of bad things come from it. So, you know, it's definitely something like when I quit my job when I was 37 years old, I'm a little older now. I'm 43. Now, but that's what comes with age, you get perspective, you get to see like, you have experience of what's happened in the past. And you can mitigate problems that come in the future. That's what I do with all my students. Now. It's like, Hey, this is what happened to me in the past. And this is what we can do to make sure that we're making money still every single month. 2:21 I think, I think it's pretty cool. Like even, it's just you get wiser and use, you've seen things like me, since I started four years ago, I'm like, crashes coming, you kind of learn the ebbs and flows of cycles, like it's common, we're gonna do business right now. But I know it's common, I'm ready, I'm ready. And we're kind of we're gonna capitalize on the situation. And, and it's a transfer 100% transfer of wealth. And it's, it's knowing that it's coming and being ready to capitalize on it. Oh, totally. Because like, there's different ebbs and flows. And this is one of the things I thought was crazy was I learned about the stock market in the middle of the 2020. Market. Before that, I learned about stock market 2020. And I'm like, Man, this is amazing. And it was kind of one of the things were like, that doesn't happen very often. And I didn't even know it was a thing till it happen that was already everywhere. And I'm like, What the heck is going on? And then like now, looking back a year, two years later, I'm like, Man, I even missed opportunity there. Because I didn't know exactly what was happening. 3:20 I totally when I saw it come down to 2020 the stocks, I don't invest in stocks, because I'm a real estate investor. I'm horrible at stock, I know how to buy high and sell low, which is opposite of which one, so I don't play with that. Because I've been burned many times, but I saw a truck crash. I'm like, I know it's gonna come back. This is just crazy. So I really want to put my money in there. But I just know, I would probably lose it. But I knew it was going to come back up. And then when it ran up so high and like, well, I've seen this before it's going to start coming down which it has been and so yeah, so we it's going to be right now is gonna be the best time to invest in real estate, in my opinion. And here's the reason why. Like, I'm, I'm really big on trying to help people to learn how to do it. Because imagine if you're gonna go surfing, and you want to surf and you're out there trying to catch a wave. Well, if you start paddling after the way this past you, you're way too late. You need start paddling before the wave gets to you, so that you can catch that wave and write it all in and make so much money. And that's what we're doing with real estate investing. And that's why I love getting on podcasts just sharing, hey, this is absolutely possible. And the best time to invest is coming up very, very soon. 4:17 So let's kind of dive into that. So how did you get into real estate? And what's the kind of that beginner process that you went through back in 2007? 4:24 Yeah, so definitely now, really quickly to the end, I was when I was 37 years old, I was blessed to be able to quit my job because I have enough rental properties. To quit my job. I had so much 30 Plus properties, each one making me $250 or more. Remember, that's just the minimum of $250 a month in passive income. Eventually I had enough money. I was like, why am I still working here? Well, I gotta tell you the story of what really catapulted me to get into real estate investing. Now all my life. I've always been entrepreneurial, you know, starting businesses and all that sort of stuff. In fact, I had a newspaper out that's where you have newspapers and bags on your bike and riding around and throw them at 5am and bring them on grass. tours waking people up. I had that I had a graphic and website design company started skateboard manufacturing business. A pizzeria and a convenience are all from scratch building him up. But I was always taught just like we're all taught the same path for life. You go to school, you get good grades, you take those good grades, you go to college and getting 1000s of 1000s of dollars into debt. And then you get that piece of paper that degree that they give you. You try to go from job to job to try to get a career that you could work 40 plus years of your life, and then hopefully retire when you are 20 or 4065 years old, and hopefully retire on what you manage to save your money that entire time. So I'm doing that same thing. So I get a job at the local county government in California, I tried to find the most secure, stable job I could ever find. California, county government like local government, that's not going away. California's not going away. governments aren't going away. And technology. I was doing technology, like the most secure job I could ever get. And so I start working a job, and I'm starting businesses, but they're not enough for me to quit my job. And so we bought while my wife and I buy one rental property, and I My mind was blown like $250 I in fact, my first check was $317. It was like, Oh, my goodness, I need more of these. But you know how it happens. Life gets in the way. My wife and I started having child after child, our businesses were getting busier and things were happening, like just didn't have time. And so like on the way, and then my this is a story. This is literally, like just catapulted me or just shocked me into this. My wife had our fourth child, and I went on paternity leave. That's right after the baby's born, the dad stays home with the mom changes poopy diapers and bonds with the baby and all that good stuff. And after that two weeks, I go back to work. And in that week, I go back to work, I get a call from my boss's boss's boss, the Secretary the top dog, she says Dustin, would you please come in the office? And I said, Sure. And I hung up the phone and this is Friday at 330 in the afternoon. And I thought to myself, This isn't normal. Why are they calling me the office and I've seen plenty of movies. Friday at 330 is not a good time to be called to the boss's office. And I started thinking back and I remembered before I went on maternity leave, there was some rumors or some rumbling going on that there could potentially be layoffs. And I really took that off. And I said there's no way I've had 1213 years seniority here. Most stable job I can ever get my bosses give me a raise all the time, shook it off, and I get up and I walked down the hallway to my boss's office. Now this hallway isn't very long, Daniel. In fact, it's kind of short. But every single step that I take, it feels like the hallway gets longer and longer and longer. And it feels like my feet become lead bricks because the weight of possibly losing my job starts crashing down on me. Well, I get down the hallway and I turn the corner, and I see my boss's door, his doors closed. And I see a secretary that are super sweet, nice old lady. And she is looking at me kind of consoling me with her eyes sheepishly grinning at me. And she says Dustin, would you please have a seat because she knows everything about what's going on. I know nothing about what's going on. So I go and I take my seat. And I sit down, and I start thinking about my life. And if I lose my job right now, that whole plan that that I was taught from the, from when I was born, did I just waste my life on this plan? And oh, my goodness, if I can't work, I can't make money. I can't feed my family. We just had a fourth child. What does that look like? Does that make me a failure as a father? Does that make me a failure as a husband as a man trying to provide for his family? Well, as I'm sitting on my hands get all clammy, my forehead gets all sweaty because the weight of everything is just crashing down on me. Well, the door to my boss's office opens up out walks a co worker of mine, a lady coworker of mine with a piece of paper in her hands, she is noticeably distraught. Notice we have said she's not necessarily crying. But you could tell her world has been just devastated. She passes by me. My boss says Dustin, would you please come into the office. So I get up and I go into his office and I get laid off. And remember, this is the government. Nobody gets fired or laid off from the government. But I did. So I tell the story. Because there's two lessons that I learned. Well, I take that layoff notice. And I go back and I sit down it at my desk, just getting laid off. And I started thinking, Okay, number one first lesson I learned, I need to get other job I need to be able to provide for my family. So I was really really blessed Praise Lord to be able to find another job in the same county. whole nother department wasn't having issues. So check moved over there. Everything worked out great. But the second thing that I realized sitting in that chair, was that I need to make sure this never ever happens to me. Again. I didn't make sure nobody has the ability, ability to take away my ability to feed my family. So right then and there. I realized that whenever anybody asked me the question, Dustin, what do you do? Usually I would reply, oh, I work for the county. I do it work for the county. Well, I'm basically projecting my value and myself that's coming from my job. No, my value doesn't come from my job. My value comes from my god from myself and from my family. And so I realized right then in there, no longer will I tell anybody, that my job is what I value about myself. I now will tell them I am an investor, which means now my project my values, I'm an investor it may so happen that 100% of my money comes from my job. That's now my part time job. I am a full Time investor. Fast forward to sorry, I started buying property after property after property, each one making me a minimum of $250 a month in passive income. Eventually, I have 30 plus properties. And I realize, man, even though I'm making $75,000, a year here at this job, I'm losing money. So the last part of sorry, I went to my new boss, good boss and all, I said, Hey, boss, I'm laying you off, like, here's your two weeks notice, you know, in a joking way, he said, Dustin, what are you going to do? I said, Well, I don't have to do anything. I own real estate. That makes me money without working. So the last part of the story, I taken this walk to, from my job to my car 1000 times is a mile and a half walk and worked at downtown, I won't pay for parking. So I've taken this 1000 times, well, if you remember, that short will hallway that I walked up, the hallway got longer and longer and longer, my feet became like lead bricks. Well, I walked to my car for the very, very last time, I felt like I was walking on clouds, because I knew I would never ever need a job again. Because now my value is on myself. Now everybody needs to hear this, your value is so much more than anybody could ever pay you. In fact, your boss is only paying this how you know your worth so much more than anybody can ever pay you. Your boss is paying you just enough to keep you working without quitting, but not so much money as taking money out of their pocket. So they paid you for what you're worth, they go broke. So what we need to realize is that our value is so much more than anybody could ever, ever pay you. So I'll pause the story because you probably got plenty of questions. 11:26 No, I've, I was there's a couple things in there. But I always make the joke about like people was like, they condescend like, oh, entrepreneurs are just unemployed. I mean, yeah. So whenever people ask me as a as condescending back to him, I say I'm an employee too. So it's one of those things where like, a knowing your own value, it's it's a, it's you don't see it overnight. But it's once you see it, you're like, Man, why don't I come to work anyway? 11:57 Absolutely. Because you know, that you're worth so much more than they can pay you. They can't pay you what you're worth, in fact, because I quit. Like I said, I was making $75,000 a year at that job. And I realized I was losing money, because this is taking 40 plus hours of my life that I can be don't devoting something else. Now, fast forward. I've been successfully unemployed for over five years now, maybe five and a half years. Now I literally have including my real estate business, I have four other businesses that make me money all the time. And so because I have so much extra time, I'm able to build more business. And now I have employees that work for me all over the place. And so yes, that's what is so great. And once you realize how much your value, how much valuable you are for your company, then you're going to realize, Oh, my goodness, if I just get if I pay myself, I'm gonna make so much more money. 12:45 Yeah. And it's for everybody out there, like entrepreneurship isn't for everybody. Like it's not for everybody, but it's just building up to your your your position. Like I one thing, one thing I would commend you for is doing real estate for that long to get to that point where you can walk away 100% Because that's, it's hard. It's hard. And it's hard to even start that and it's hard to continue that just even get to a point where you can retire. 13:10 Totally. Yeah. For me, what I and I'll tell you the wrong way that I did it. Think about the first deal. I was doing what the quote unquote gurus were telling you to do. So I bought my first property. And my property manager started stealing from me, within six months, it was horrible. Like, I was like, What is going on? Like, this shouldn't shouldn't happen. And so I realized that I was taught or told the wrong way. Now, this is how I started. So it was back in 2006. When I first started investing, and I was watching like a late night TV, it was like 2am, those infomercials that come on, hey, we're coming to your town, here's a two hour seminar for free. So I went to that. And we did that two hour seminar, it was all hype, all sales pitch. And they say, Okay, here's your two hours of this. And they say, here's our program, it's normally $30,000. But if you run to the back right now, it'll be $1,000. So I did that I rented the bag is 2006 out of the bag, all excited to pay $2,000. It was for another two day seminar. On top of that, I went to that two day seminar, it was literally all hype, all sales pitch for their $50,000 course or $80,000. Course it was just nuts it was in this is 2006. And so with that, I said, Well, I'm gonna take what little they taught me and see if I could do it. So what they this is what they told me how to buy it. And like I said, my property manager started stealing from me within six months. But this is what got me to where now I can scale my business to be like you said, quit my job and stick with it. Well, the first way, I'll tell you the wrong way. This is what the quote unquote gurus tell you. But I'll tell you easily forget it. They say find a property anywhere in the country to invest and then you run the numbers, make sure you account for expenses, run the numbers, make sure you make it a little bit of money in passive income, like 50 hours of passive income, but you'll get appreciation which is what you love, which I'll pause this and say I don't invest for appreciation. In fact, I'll give these properties to my kids in generational wealth. They will get these I invest for cash flow. So I will never even sell these properties I'll give them to my kids, but to give them back to the wrong way, finding area, that country and invest, run the numbers, make sure you're making a little money passive income, you'll make appreciation, and then you spent 1000s of dollars to fix up or to buy the property, then spend $1,000 to fix up the property, then you find a tenant. And then you find a property manager. Well, in my opinion, it's just about backwards. I did that. And my property manager started stealing for him because I didn't build the business. First, you'll hear me I say this all the time, we build the business first. And what it looks like is the property manager, sorry, the gurus tell you you buy one property, that property is your business? No, no, I own a business that owns properties. And so give you example, what that looks like, if you're going to start a convenience store, you know, it can be a sort of candy bar, or soda machines and all that good stuff. Well, you're not going to sign a lease on a location, open the doors and set a box of candy bars and underground. Now you wouldn't do that you go out of business in two seconds. But what you would do is you build the business. First you get the gondolas, or the shelving units that you put all the candy bars on, you get the countertops, a cold storage, cash registers, bank accounts, insurance, employees, all the things in the business first, before you buy any inventory. Same thing with real estate investing, we build the entire business, every property that we buy, is a piece of inventory that we put into our business. And then to scale the business, all we do is find another piece of inventory, and then put that into our business so that it runs itself. If you did what the Guru's quote unquote gurus tell you to do. And then you find a property manager at the very end, you call around, hey, property manager, I have this property, do you would you manage this property? I've heard this many times people, they would say, No, I'm not going to manage that property, I'll get shot. If I go in that area, then you no longer have an asset anymore. You have a liability. So what we do is we build the business with all the right people, they make sure that we buy the right properties, like give example, quick example. If you were to say property manager, after you buy the property, will you manage it? They say no, I'm not going to manage it. Well, you jumped the gun, why not ask them? First you say property manager, I'm looking to buy this property. Tell me how much it can rent for tell me what type of clientele the vacancy factor? And will you manage it? If they say no, I won't manage it, then why would you buy it because you can't make it have somebody manage it, what you would do is if they tell you all the ins and outs of how much you could rent it for, make sure that your expenses are lower, my suggestion is to under $50 a month, then you buy the property, then they manage it. They handle the rehab, they handle the the getting the tenants in there, they handle everything, and you make money in passive income. So that's how I was able to scale my business. And I started in California, what sorry, I lived in California, but I bought in Ohio. Now since I invest in Ohio, Texas and Arizona because it's a business. As long as we build a business, we hire experts, they do all the work. We don't do any work, because they do it all that will make sense. 17:45 100% I have a question about your property manager was how was he stealing from you as far as like through? Calls? 17:55 Man? Yeah, totally. So it came in the form of fake expenses, and not having the numbers add up, like your expenses should equal up. If you have a receipt, and line up, let's say eight receipts or two receipts, that total from those two receipts should be shown as expense. Well, those wouldn't add up, the rents would fluctuate way too much. They would be like I would get a receipt, it would be different on the property management statement, then the receipt, as the property management statement says, more or less I can't remember. But doing work that wasn't need to be done so many different things like it was horrible. They just were stealing from because I jumped the gun. I didn't build the business, it'd be like if you started at same convenience store. And you're about ready to start and open the doors. And you grab somebody off the street and say hey, you have a pulse. Come on, in, manage my money, manage my customers manage my inventory, manage my business, without interviewing them without making sure that they can actually do it. That's what I did. That's what I was told by the Guru's. Well, we don't do that anymore. What I do and my students do is and here's a tip is we hire slow, but fire fast, we hire very slow, we don't want to just jump into bed with a property manager, metaphorically, you know, jumping a bed of a property manager having them run our properties, if we can't trust them, if they can't do it for 1020 30 years. In fact, I have properly managed I've been with since the very beginning. So we find the right property managers. And hopefully we won't have to talk to them. They won't have to, we give them the systems and procedures and processes. And a lot of people have heard of the book, The Four Hour Workweek. It's a good book at all. But I think working 40 hours or sorry, four hours a week is for suckers. I don't want to work four hours a week, I only want it for four hours a month, I may be worth 30 minutes a month. All I do is I basically pull my property management statements and make sure everything looks good. And then put them away and go back to play with my kids. And so the reason why I'm able to do that is because I built the business, but then I put systems and procedures and processes in place so that they know how to run my business like Trulia is not an expert. Zillow is not expert. All these companies like these online companies databases. They're not experts, who are the experts, the people living literally living there on the ground, they are the experts, they're gonna help you run the business, right? 20:05 How do you find boots on the ground? And not obviously market since you live in California? 20:08 Oh my goodness. So when I first started just six, it was horribly hard. The internet was not as prevalent as it is today. Now they're everywhere. Now, there's companies that try to do, you know, do these things for you. So my suggestion is, well, the easiest way right now is looking on, obviously, Google and Yelp type in the word property manager at whatever city and hoping you'll find him. But I'll give you some other key ways to do it. Well, if you go onto Craigslist, Craigslist, or Facebook marketplace, or someplace where you see homes for rent, well, here's here's like, a kind of trick to do it. If you're finding homes for rent in that area. And you see the same phone number on like, let's say 234 listings, that might be a property manager, or it might be a realtor, that's a leasing agent that might know property managers, what it really comes down to, if you don't know, you need to talk to as many people as possible. So I read the Bible, and the Bible says wisdom comes from many counselors. And so I try to get as many people to give me information. And that's how I run my business remotely without having to worry about my business, because I have everybody checking on each other. Everybody given me insight and understanding and counsel. And so what happens is I put in my brain to figure out what's the best course of action, and then make that decision. So right now, the best way, Google and Yelp, looking at property managers looking at their websites, but like I've said this before, all the time, like property managers, anybody could put on a hat and say, their property manager, but the good ones, you need to really interview them. And here's the thing, if you're going to find somebody that's gonna run your business, you're not going to grab him off the street. No, you're literally going to interview them. So to find them, go, like I said, be creative. You can use Google and Yelp, Craigslist, you can use Facebook marketplace, call up leasing agents, there's creative ways to do it, I teach my students how to do all this stuff as well, like much more with that. What you also want to do is you want to interview them slowly, I suggest interviewing them a minimum of two or three times talking to him on the phone, like texting is not interviewing, email is not interviewing, a phone call is interview. So that's the way that we find the right property manager, the property managers, a quarterback of your team, if you don't have a good manager, you're gonna be up at night rather than sleeping soundly. 22:13 Now, do you find property managers in different areas that cover different areas or areas specific or usually have one part of managers that manage all your properties in that in that city or state? So 22:23 each city, I have different property managers, I make sure that each property manager covers whatever city now if I have one good property manager that covers two different cities, because they're pretty close, then I'll go ahead and use them. But each area, we build a brand new business in every single city that is separate from the original one that we're currently working with. 22:42 Have you ever seen any of these properties? Oh, 22:45 good question. No other 30 Plus properties? No, I literally only seen one of them. 22:49 Yeah, I think I think it's funny because like, we do land virtually. And like we don't we never see the properties. 22:54 Oh, yeah. I mean, well, here's the thing. realtors will tell you. It's Location, location, location. Well, that's garbage. Like we investors, we don't care about that stuff. In fact, we'll definitely never live in those properties. Most likely, unless something bad happens, God forbid, but we'll never liveness properties might even never even care to see that state, let alone that city. With that. There are other people that will my tenants love the property because I give them a good place to live. Give them a good rent so that they can provide for the family and I make money. So what I love about passive income is if I make a minimum of $250 a month, well, that is $3,000 a year in passive income 10 properties at $250 a month, that's $2,500 a month in passive income. That's $30,000 a year without working 20 properties is $5,000 a month. $60,000 a year. We just keep scaling it up from there. 23:46 Yeah, it's a it's a definitely a it's a it's an acquisition, a lot of acquisitions. A lot acquisitions. So how many doors do you have right now? 23:56 Well, I have syndications as well, but over 30 doors, single family homes, and I also like residential, so for years and below. But I also have syndications, like just invested in a couple hotels, which is a lot of fun as well. But yeah, so all real estate investing is good. You just need to get around the experts that do it. Like, I don't want to do multifamily. So I find the people that want to do my multifamily. They've done it before and I invest with them. So yeah, so right now 30 Plus properties now, and I want to say, yeah, they're a blessing, each one making me two and a $50 a month in passive income. That's the minimum, some are making 567 $100 in fact, to through COVID, my rents just skyrocketed, so it's going very well. 24:38 Yeah, that's that's one of the things we're like, even with with COVID Like you have to get that turn to renew the up the rates or you had the moratorium we couldn't read. I can't raise rents a certain certain amount per thing. So you have to have a little bit of insurance, you get your rent rates up. 24:54 Have you seen not every state, every city is different. Every state is different. So where I invest, I never had any of those issues like if you have Oregon, Oregon, the state will have like a cap of how much you can rent it or raise it up each month. Other states where I invest, they don't have those things. And big thing people ask me, Well, how was COVID? For you? You know, do you have nobody paying rents and like, you know what, I was very, very concerned about that. But yeah, literally had no problems whatsoever. And I coached hundreds, if not 1000s of students, none of them had any issues with their tenants, as well as all the other friends that I have better expect expert investors. They haven't had any issues. In fact, I would probably say, at least, sorry, at the very most two or three different properties out of all the 1000s that I know from friends and students that that I know, have had an issue with COVID No, I'm not saying there weren't, I was just dumbfounded at how little there was, it was just like a normal everyday thing. In fact, it's different. Everybody had to stay home. So they couldn't go anywhere. So they had to pay. They just, it worked out really well. I didn't have any issues whatsoever. 25:54 So it's amazing. I have a client who's a property manager in Texas, and he manages like 500 units. And he was helping some of his clients through the because I guess Texas had like a rebate program for people that filed for COVID. So the state was paying some months that the the tenant didn't pay. So he was helping people click funds from the state versus the tenant themselves. So it's interesting places and states procedures, totally. These they're all different completely. Well, 26:25 a big thing I really enjoy section eight, two people might not like section eight, but I like it because they take care of my property, Section Eight inspects the property and make sure the tenants are taking care of the property. And I make money like clockwork, and I'm helping out a family that needs help, you know, the assistance of the government and they pay like clockwork, which is just just awesome. And the services that service, the government has us in place. So if you can take advantage of it help a family might as well do it. 26:50 Yeah. 100% 100%. Yeah, I only we do a lot of land investing. So I only have the one house that I own that I least purchased out so I don't even manage that property. Nice. I just I just collect payments. He has I talked to him once a year. Sounds good. 27:07 Just like my property managers. I never want to talk to him. I just want to receive money for them. Just take care of my business. Let me go back to play with my kids. 27:14 Yeah, something about passive income that doesn't require your time or energy. Those are the best? 27:19 Absolutely, absolutely. Especially when you create a business, like I said, you create a business that you give them the business systems and processes and procedures. They follow it and it goes the way you want it. 27:28 Yeah. So you do a lot of content creation. You you have a book out to write. 27:36 Yeah, yeah, I do. It's called, I'm not creative at all. I'm not creative. It says it the name is how to quit your job with rental property straightforward, straight to the point. So but it's literally just because here's the reason why I wrote it. When I was quitting my job. I had so many friends, family members, friends from church, and even co workers asking me, how are you quitting your job? And I said, Well, I invest in real estate. And the second question always came, can you show me and so I would start showing people and I realized, I actually enjoy doing this, like, this is pretty fun. I enjoy teaching people and I love seeing how their lives change. But I realized that it takes so much time to teach somebody one on one. So I wrote a book and I said, Hey, read this book, I gave it out to him. Read this book, and we have questions that apply to you. Then we can ask because all these beginner questions, they're good questions, but they're the same. These are in here. But yeah, so I love now black. One of the things like I said, with 40 plus hours of my life back, I literally created online businesses that make me money that help other people. And with that, that's other streams of income. Now I live streams of income, but they flow into my river of income, which is my real estate investing. 28:38 Yeah. What other businesses do you have right now. So I 28:42 have two online businesses, and my real estate investing business. I also have a gym that it's not, it's more gym, programming, like, like, working out type programming. And then I also have a conference. And so this conference, it's a real estate investor conference. It's how it actually a mutual friend of ours Mike Cabot Gionee, he, he was a speaker at my conference, all that to say, I create this conference. Because number one, remember I had so many people wanting me to teach them. But then I created my online business to coach people how to do this. And then with that, I had all my students saying, Dustin, we're friends online, like we're community online, we want to get together. We want to have fun together and have a have an event. Can we do a meet up? And I thought that's a good idea. But I'm not somebody who does things halfway I need to do all the way I thought I've got like 20 friends that are expert investors either like and land investing to multifamily to apartment complex, Airbnb, all these other things. So I called up all them and I said, Hey, wood, I'm thinking about bringing my community, bringing your community, all of our communities bringing this all together, create a conference. That's not the sales pitch one like the runt of the back, no, this is about community. Let's bring us all together build a community. That's a conference that has sponsors that just erring on the side of giving fast forward now, we had one it was in March of 2022. Next year will be May of two Wait 23 Here in Phoenix, Arizona, I live in person. And it's all about community. But this is another business that I'm creating. And I have other people from managing to marketing to all that sort of stuff. But I create this business, it's more passive for me. I still have a lot of work. Don't get me wrong, but I have other people doing the work. I'm on the business if you didn't think of like the Cashflow Quadrant from Robert Kiyosaki the business quadrant with this. So yeah, these are the businesses that are taking up my time. But it's fun for me, you know, as opposed to working for somebody else, building them value now and building value for myself and my family. 30:32 Yeah, 100%, the live event space. It's very interesting. We've been doing an annual event every year for three years now. 30:41 Awesome. How is it? 30:43 It's fun, man. Like, I kind of like how you said it. It's a community driven. And it's just a way to get the people in the community to come together and have some fun. 30:51 Totally, totally. And I mean, it's expensive, like, I booked out of the hotel, and I had a guarantee like $250,000 guaranteed for the hotel, from food and beverage to rooms. And this next year 2024 It's a half a million don't know, it's more than a half a million dollars guaranteed because we're going to be a little bigger and everything. Oh, my goodness, it's not it's not. It's definitely a lot of risk. A lot of guarantee. 31:14 Yeah, people that want to go into the event space, you're gonna you're gonna lose money. In most cases. You have to lose money on paper first, or at least put up the money first. 31:22 Yep, absolutely. You know, in your mind, okay, this money is gone. If you get it back, or it may not mean get it back. But if you get to keep it, then that's a good sign. 31:31 Yeah, the it's and that's, that's crazy. The room, the room block is crazy. 31:37 Oh, yeah. That you're like guaranteeing How many rooms you can fill up. And if you don't fill it, you gotta pay for it. It's just 31:45 so for everybody here that attends events, and they have room block, please book the room in advance, and please book the room for the allotted time. It helps the event coordinators tremendously. 31:58 Oh, my goodness. 31:59 I mean, again, please use the 32:05 I agree. And it might cost you like, let's say because usually with the room block, that means the hotel blocks us a set of rooms, number total number of rooms. It let's say you might be able to find something cheaper, like not as good a place but you might have find something cheaper, like $10 $20 Cheaper a night? Well, that $20 I mean, number one, you're at the at the event, which that's where all the action is, which is number one, but number two, that you know $20 That you're saving, it's not going to actually help you that much more, as opposed to being there with everybody. And it also helps the people that are putting it on because, man, it's such. It's nerve racking. It's definitely gets you anxious, like, are we gonna fill up? Like, I think for this one I guaranteed like, oh, 750 Or maybe 1000 rooms, I can't remember it was a lot of rooms I'm guaranteeing. So if they don't come, I gotta pay that on my pocket. So I'm praying we make it. 32:57 It's a hope and a prayer. That's why That's why I really want to iterate that because people don't run events. They don't know. They don't know these things. Totally. You don't know yet. Are they gonna say it out there sometimes. 33:10 And like the food and beverage too, I've guaranteed that I would spend $50,000 in food and beverage and 25% gratuity on top of that. So that is what is that. Almost like 65 What's that? Sexy? Yeah, it's 33:25 like 5060 that was? Yeah. 33:27 60,000. I'm like, Oh, my goodness, that is so much money. 33:32 That's crazy. That's crazy. It's crazy. How much goes into it that most people will never understand. 33:38 Yeah, but it's a labor of love. Like you were saying earlier when we show labor of love because I enjoy building community. I love connecting people. And I really love seeing people, their lives change. In fact, my number one goal in life now first was to quit my job. But now my new goal is to help 1 million people achieve financial freedom, financial independence through investing in real estate or businesses or anything like that. So this is just one iteration of how I'm trying to help people. 34:04 No, I mentioned that a lot too. Is that everybody? You always have to have your personal line but then it comes bigger than that of your business. Why? 100% right there your business. Why making a million dollar making a million people? Unemployed? 34:18 Yep, yep, successfully unemployed. Exactly. It's 34:20 a terrible point to tell a person that you might employ. Now, but it's such a it's such a big goal, that a lot of people don't make big goals. So I appreciate the big aspirations. And community is so amazing. I love community. The impact that you make every day is priceless. You don't really know what it really is going to pay off or went Oh, pay off. But you know, it's something that's impactful that uh, last long lasting totally. That's crazy. So, event in Phoenix, May 2023. We'll see I called 35:00 The Real Estate Wealth builders conference and Rukh Khan or EWB, ce o Ruth rukh, 35:08 rukh Go check that out. Go check that out. Phoenix isn't too far away. It's it's like the the hub where everybody does a lot of events. It sure. Do you always do it in Phoenix? 35:20 No. So we've done it because I was starting it this year we did in Phoenix, guys, this is where I live now. And so next year in Phoenix, but in 2024, will be on the East Coast. 35:32 Yeah, we did the same thing. We did Dallas, your one, Fort Lauderdale in year two. And now we're going back to San Antonio, and then we'll probably do Phoenix next year. We're bouncing around. That's so cool. Because most people that attend these events are usually local. So you gotta go where the people are. That's true. It's very true. A lot of people, there's people that travel, but it's not very many. Usually, you're always gonna get a big local crowd whenever you do events, which is why that, how do you this is a side question. How do you promote your event locally? Because that's a huge driver to get people to come? 36:08 That's a great, amazing question. Because most people wouldn't think about that. I didn't think about this until somebody brought it up. So trying to get on local news. And it's gonna be really, really hard to do. But if you try to get on local news, and there's a nuance to it, not nuances. It's like an art, how to get on like you need to be like the week before. And it's just it's crazy. But getting local news, but also local like with since I'm real estate, real estate investor meetups pronoun announcing it, they're just just really trying to get around other people in the area. But at the same time, it's rather hard. It's not the easiest thing. In fact, like local areas, or real estate investor groups, they're not going to want to promote your event, because it's not their event. And so it's just, it's, it's hard. And now, we are gonna start working with Facebook ads, just to let people know that it's there, you know, just hey, it's out there. If you're already in Phoenix, there's a lot of investors in Phoenix, you're already here. It's a big area, just come to the conference. So but we have people literally flying from all over the country. Because with my podcast with all my friends who have their own podcasts and YouTube channel, their own audiences, they were nationwide. And so people have flown in, I would say people that we had 200 people for our first event, I want to say maybe 3040 of them were local, the other you know, let's say 160 170. 37:24 Crowd. That's a definitely good flying crowd. 37:26 Yeah, I was. I was really blessed with that. So yeah, it's yeah, it's not for the faint of heart. That's for sure. 37:34 Yeah, that's, that's, that's, that's a really good flying crowd. We try and do local. And we tried to the Rios and we did radio ads last time. We're thinking about doing TV, but you got to find like a local media buyer. But that's can be a little bit pricey. But it's all it's all timing to week before. That's what we did like a month before. I mean, you get nothing. Ah, so we sort of were like we're experimenting. Because I wasn't ready to go. Radio, it was interesting. We put we put like $5,000 towards ads to radio. For the for the event. But I think we did it all too soon. We should have done like a shotgun approach the week before. Versus because most people that are local, they're just gonna, hey, I'm free that day. Let me just stop by. Totally, totally. So people that are flying black off that whole time they come in? 38:24 Yeah, yeah. So how did you mark? Is there a way? Because I was thinking, how would you know if the radio actually worked, which would be good. If you did like if you give like a promo code for them to get a ticket or something like that this specific only use on the radio so you can see if it actually worked. 38:38 So I did. I created a whole website, I copied my event website and put a whole new website out there just for that with phone number and all that stuff. So I had phone number campaigns, a whole website just for Fort Lauderdale event. And it built it up like that, and it's copied over my website. 38:56 That's a great idea. How did it go? 38:58 The we had, we had a lot of clicks. We had a lot of clicks. But we like I said it really didn't do very well. I think we just stretched it out too far versus doing right before the event. And I think that's a mistake. But like I said, we were just testing the waters, see if it worked. But I think if we do it again, we'll try and do like a shotgun approach like week before the event and it's just hit it hard. That hard. Hit it hard. But it's just it's it's a lot of unknowns. If you're not if you've never done an event before, if you've never had to promote an event. It's it's different. 39:28 Yeah, the biggest way that I've promoted is a newsletter for the for the conference, but then getting on other people's podcasts. Like right now we have 35 speakers that are coming. They all have their own podcasts or on audiences and getting them to bring their audiences. That's the number one thing is saying, hey, I want you to realize that this is a conference for your audience, for us to build a big community of awesome people getting together helping each other out. And so that was one of the biggest ways to get people to come was because of hey, we're bringing So many other great speakers that are experts investors that are gonna just gonna be there to help you. So that was what helped me the most to bring. So from my own, I think I brought maybe 50 Now maybe a 60 People just from my own brand from Master passive income, and my podcast that I have, like, that's, that's how a lot of people found me, but the other 140 came from the other speakers. 40:20 And I think that's a huge point, however, for everybody else, too, is that one thing I didn't do very well with is put put my pressure on my speakers to bring people because it's an exchange of value, if you're gonna give them speak, makes you put dots marketing, to see your own list and to your own email list and on your own podcasts and platforms that you've built up to push it out as well. 40:43 A big one is getting on their podcast and just talking about the not talking about the conference, I guess just kind of commercial, big, long commercial. But what it can do I give the example for the Real Estate Wealth builders conference, Rukh Khan is all about community, and how investing gets better when we're helping each other out. And the tack that we're taking this year on in are like any interviews that I go on their shows, is talking about how we can like a rising tide lifts all boats, and this is the best time ever, that's going to be coming right now that you need to be investing in real estate. And if you have other people that are encouraging you helping you coaching you along, you're going to be explicit, if you have a community of people that are doing it, you've seen that they're successful anyways, oh, that's, that's the route that we're going is helping them to realize that they need this community, as opposed to anything else like that we're taking that direct rather than just a sales pitch or like a you know, commercial for the conference. 41:35 Yeah, it's so crazy. There was a I heard of an event recently, how those like 16 people in the audience and like, look to your left, look to your right, there's gonna be like, half the room is gonna be here next year, just because they're gonna fall out of business. And I even saw statistic I don't know how true it is or not, but I just thought recently is that there's like 1.4 million agents in the US. 808 100,000 of them haven't closed the deal this year. Which is crazy. It's crazy to me, but it shows it goes to show that people if you're not hanging around the right people actually doing the business, you're gonna fall right out of it. And you're just gonna be another statistic. Totally. Which is crazy. So you are Dustin Hyde on Facebook? You have a free course. What's what's in your free course you provide? Master passive course? Yeah, 42:26 yeah. So everything I talked about how to build the business. In fact, literally what I teach all my students, I'll literally give it to you. It's a free course building the business finding the right properties, scaling your business to quit your job. So yeah, you gotta master passive forward slash free course. But I also do have a, if you're listening on the podcast, more than likely you have your phone, if you text the word rental, R E, N, T, A L, rental to 33777. Rental to 33777 It'll literally just, you know, send it right to you just gotta put your email address and send it to your email. But what I'll do is I'll give it to you. And I've even had people just take that and start investing in real estate which is amazing. People listen to my podcast and just jumping. Hey, Dustin, I listen your podcast and talked about House hacking. I bought my first house hack and now I'm living living for free my property, all that sort of stuff, but also on Instagram. If you go if you find look up the Dustin Heiner THG Dustin Heiner, I'm not that arrogant it's the only you know handle I can find but the Dustin Heiner on on Instagram on there as well. But yeah, so I got my podcast, Master passive income pockets. It's literally just a solo show me just teaching how I do this, like what I do with all my students, YouTube channel, I have all the getting out of all that coaching, basically on there as well. But yeah, I just love to see people change their lives and be a part of helping 1 million people become financially independent. So it's a lofty goal, but hey, if I get off the ground at all, I'm changing people's lives. 43:50 Yeah, this is my goal. Personally, I had my I had a client a few months ago, probably about six months ago here six figure month. Sounds like my goal is helping more clients at six figure months. Oh, yeah. So I That's my goal. Like that is so cool. And now Now it's just like okay, well six figure months. I already had one I can have 1000s So You sure can. 44:14 You've done it once you can do it over and over again. Just like my students becoming successful employed. I've had many students become successful unemployed. We just got to get them figured out how to get how it is that they're gonna be able to get there and we can do it. 44:26 Yeah. And it's just it's just going going going what is a quote that is yours or somebody else's that you resonate with? 44:32 Oh, so I love Well, there's a couple of them so I'll give you one give you two but this is the first one a smart man learns from his mistakes a wise man learns from other people's mistakes so learn from from our my son Daniel myself like in our investing elite, we will show you our mistakes so that you don't have to pay that same price that we either money or time. learn from mistakes from other people. So you're gonna be wise. The last one. I love this quote. When is the best Time to invest in real estate or sorry, when is the best time to plant a tree? Well, that was 20 years ago, the next best time to plant a tree is today, same day real estate investing, or land investing. Like, if you don't do it today, you don't want to be looking back 20 years from now, oh, man, I was listening to Daniel's awesome podcast. And I knew I shouldn't invest it back then. But I didn't, you don't want to be that. You want to say I'm planting that tree today. 45:25 One thing I'll say about that quote is, is that if you waste a year, you waste two years, you actually was double that because where you would have been, by actually doing the action for one to two years, you don't have two more years to get to that same spot. So you actually have four years if you didn't get point, or 20. If you wasted 20 years. It's 40 years of time you wasted you get in position. So it's a lot it's a lot of a lot of people think is as hard it's just doing action. Small steps, baby steps. You get up a mountain one step at a time. Totally. So there's there's a lot of nuggets in this show. I really appreciate you coming on. For everybody here. Please go check him out. Please check out his YouTube channel. Please check out his free course. Master passive course. We appreciate your time. Is there a way where did you know that where people will find you. But we appreciate your time. Dustin thanks for coming on. We'll see you on the next episode. Thanks Daniel.

Daniel Esteban MartinezProfile Photo

Daniel Esteban Martinez

Host/ Ceo/ Speaker

I have been an entrepreneur since 2018. I come from a regular home just like most people. My dad worked on the roads in the Chicago area for over 30 years. He always taught me to work with my brain, instead of my body. Your body can only take so much abuse. I learned so much from my father. He always pushed me to work smarter and not harder.

I have owned and operated a trucking business for 2 years. I started learning real estate in 2019. Fell into the Data & Skiptracing business in 2020. My partner Anthony & I started Hivemind in 2021.

I have done a ton of different jobs coming up from painting, to door-to-door sales, telemarketing, truck driving, and loading trailers. What I learned most is that I want to stay in the digital business space. The leverage you can have delivering digital products to the marketplace can yield limitless possibilites.

I started The List Guys in 2020. It is a data and skiptracing service. We provide seller and buyers list nationwide. My clients have been getting great results and I am proud to help people killing it.

I started the Hive in 2021 with my partner Anthony Gaona. It is a real estate and business mastermind. It also comes with a all in one CRM, that can host unlimited websites and users.

Starting the Hivemind has been an amazing journey so far. Seeing one of our users make his 6 figure month in June 2021 leveraging our software, I know there will be plenty more to come!

Dustin Heiner


You can find it on my press page with head shots: