Brant Phillips – Navigating The Realities of Residential Real Estate Investing

How many of your clients are walking through the houses with you, knocking out walls with sledgehammers and carrying paint brushes?

Brant:         You know, I get that a lot, as well. And we got that a couple of times this week, where people told me, you know, they’ve always to flip a house. They always wanted to get into real estate investing. But they didn’t know how to do construction. They didn’t know how to paint or they didn’t know how to put down tile.

And I think that’s one of the biggest misconceptions. We personally, as a company, won’t take on a project if that homeowner or that investor is going to be affiliated with doing some of the renovation aspects of the job, because I’ve learned that the hard way, too.

My first couple of projects, I wanted to have a hand in it because I thought that’s what I needed to do. You know, you see that on those shows. It didn’t take me very long to realize, one, that I wasn’t very good at actually doing many or the jobs that are required to get a job done.

And I was slowing down the project. I was very clearly costing myself time and money. Time on the renovation, as well as money on the renovation, where I’d set a project back 20 or 30 days. And you add up mortgage payments and insurance and taxes and just not being able to put your house on the market, it adds up really quickly.

So that’s another big one, where people say, well, I have a full-time job. I don’t have time to do this or do that. And that’s one of our, that’s why we’re in the marketplace. And that’s the void that we fill is that we come in and fill that void where you don’t need to do anything.

We actually have a lot of clients that don’t live in this state. We’ve worked with out-of-country investors. They’re investing from other countries or they travel a lot. So we use a lot of cloud-based management software and pictures and videos and things like that.

Those, in my book, are the wisest investors where, if you look at the shows and we’re talking about is it really like that? It’s not. It is for some who want to choose the hard way, so to speak. And then we’ve got other investors who come in like this is the deal I have. I want you to do everything and so what you do. And they come back at the end of the project. They might check in once or twice and then they’re getting it ready to list or sell.

And for them, it’s actually much easier than the shows are. They leave it to our company and our project managers to deal with the headaches, the nuts and bolts of the construction side. And they focus on finding more deals or raising money and just working on their business, rather than in the business.

Jack:          They sound like they stay out of their own way. It’s probably the most profitable thing for them to do.

Brant:         Yeah. Absolutely.

Jack:          Well, clearly I think what you do is changing the way that people think about investing in real estate. You wipe out those obstacles of, one, how much money they need to do this, how much time they need to be involved, and how much knowledge about construction that they need to have. And I think that’s where the success is.

You give people a tremendous sense of confidence. And it’s definitely earned confidence, because you have such a track record of people that want to work with you, not because you have the cheapest paint or you have the cheapest carpet or any of that stuff.

They want to work with you because of the result that they see that you can provide. Of the result of selling their house faster. The result of leasing their house quicker. Which is far more profitable than finding that one person that will knock 25 cents a yard off of carpet. Right?

Brant:         Uh-hmm.

Jack:          And I think that’s one of the, helping people see through that and navigate through not only what’s good deals and bad deals. But also what I think to your credit, the most profitable things that you’ve ever done for your clients is tell them this is not something you should do.

And I think that’s what really makes you an influencer for sure in my book. And what I like to find out is what influences the influencer? What is it that influences you, inspires you to drive you to do what you do? And finds its way into your work, your business, that then your clients can, your clients really benefit from.

Brant:         I’m like a lot of entrepreneurs. And I guess my original calling is that I was working too much and not spending time with my family. And I was seeing, was just running that rat race. I was not living a great life, physically, with my family, health-wise and certainly not financially.

So that’s just been my biggest motivation is trying to create a well-balanced life, where I can do something that I’m passionate about and have the time to spend with my family. And exercise every day. And just do the things that I love. That’s been my biggest passion.

Not so much to make a million dollars a year and just pursue the money side of things. Although, that is a big motivator for me that I want to have that drive to have security and have good investments and have a retirement plan, so that there’s definitely a need that what I do is still what I do there.

But also just to have a well-rounded, a well-balanced life is what I’m looking for.

Jack:          Well, Brant, what is it, you know, people listening to this, they see clearly the opportunities, and especially people that have been considering, they’ve watched the shows, they’ve watched the informercials. They’ve been to the seminars, perhaps. And had hesitations, had doubts about that. And I think they probably find that you may be the person that can fill the void for that.

Jack Mize

Jack Mize - is a Best Selling Author,host of Influencers Radio and Business Innovators Magazine covering Influencers, Innovators and Trendsetters in Business, Health, Finance and Personal Development.