From Firefighter to Real Estate Investor – A Skeptical Man’s Journey | 607

From Firefighter to Real Estate Investor - A Skeptical Man's Journey

From firefighter to real estate investor – a skeptical man’s journey is Glenn Hazard’s story of why he approached real estate very suspiciously only to realize that it works and that avoiding it due to fear was a waste of time. Today, Glenn is sharing how he acquired his properties and talking about family, money and other challenges he bridged to get where he is today. Learn why he was skeptical, how he chose the properties he bought, and why he recommends turnkey investing.

From Firefighter to Real Estate Investor - A Skeptical Man's Journey

What You Will Learn About From Firefighter to Real Estate Investor – A Skeptical Man’s Journey:

  • What Glenn does for a living
  • How he heard about Epic Real Estate and why he decided to contact us
  • Why he was skeptical about investing and how his wife reacted to his real estate plans
  • Glenn’s criteria for choosing a property
  • What it means to let money season
  • The process of inspection of Glenn’s properties
  • How we go about these processes and why they are so important to us and our clients
  • How we addressed the biggest safety issue Glenn had with one of the houses
  • Where his properties are and what the ROI is on each of them
  • Why Glenn promotes real estate now
  • Why you should choose turnkey investment
  • The biggest lesson Glenn learned since he started investing

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Speaker 1: This is Theriault Media.

So, you want to be a real estate investor but you don’t want to do the work. If there were only a way where someone else could do it for you. Now there is. Tune in here each and every Tuesday on The Epic Real Estate Investing Show for Turnkey Tuesdays with your host, Mercedes Torres.

Mercedes Torres: Hello and welcome. Welcome to Turnkey Tuesdays. My name is Mercedes Torres and I am lucky enough to be partners in crime with Mr. Matt Theriault, the gentleman who created The Epic Real Estate Investing empire. Today, I want to talk to you and share an amazing story, but before we get into this, I want to welcome our listeners back to our show.

If you’re listening to us again, welcome back. Glad you made it. Make yourself comfortable. And for those of you that are new to listening to Turnkey Tuesdays, this show was created specifically for busy professionals who are interested in diving into real estate investing but don’t have the time or the desire to learn all the nuances there is about real estate investing. So I created the show so you can jump right in and perhaps piggy back off of a turnkey real estate investing company that could help you seek financial freedom. So that is the whole purpose of Turnkey Tuesdays. Welcome on board. If you are just now tuning in.

So, first and foremost I want to give out a couple of shout outs to my friend Mr. Dylan Peters. Dylan is an old friend of the show. He’s been around for I think about four years and he has recently acquired eight turnkey savvy properties. Now if he or if anybody is the definition of financial freedom, it is him. He originally lived in northern California and decided he wanted to take a hiatus and he took all the cashflow of his real estate investments and decided to travel to the Philippines. He is wandering the world in the Philippines for a whole year.

I think right now he’s down under, he said he was going to be in Australia for a little bit. But kudos to you, Dylan. I know you listen to us all away from Manila or all the way from Australia, wherever you are at this week. Congratulations on your eight properties. I know you’ve got two coming up that are closing relatively soon and I know that you are there and we’re going to make this closing as easy and smooth as possible. To our new acquisitions, Josh H. From southern California just closed on two awesome properties in Indianapolis. James H., one Birmingham property. Congratulations, buddy. Nestor and Laurie, welcome back to the real estate queue, the VIP queue. I know you’re purchasing property number three and long and behold, I’m going to have you on this podcast, guys. So I’m coming for ya. And then I also spoke this week to Victor Lopez and Kevin S. I really hope that our conversation was meaningful, impactful, made a difference and whatever it is that you choose you do, I really want you to really go after your financial freedom.

Onto our show, today I have a very special guest. You know, I often say it that our guests are special and the reason they’re special is they become friends of ours. And now, our guest today, his name is Glenn and Glenn is a veteran. He is a Marine. He served in the Marines for a very long time. I believe he even served Desert Storm. He then was jumped into the National Guard and now he is a firefighter. He’s actually been a firefighter for 20 years. And when Glenn first reached out to us, he was referred to us by Robert Kiyosaki himself. Kiyosaki turned him over to our turnkey operation. And long and behold, Glenn was skeptical. I mean, if you’re talking skeptical, skeptical is not even the word to describe him. He was ultra-skeptical and he started the conversation saying so. Now he’s from Boston, Massachusetts. He just calls a spade, a spade.

So I appreciated that, but he was skeptical. But in addition to being skeptical, one of his biggest challenges was the fact that his spouse was not supportive of what he was doing. So I’m going to allow him to dive into his story and his journey because he’s only been investing for four years and he’s already acquired three turnkey properties. And I think I turned him into a believer. So ladies and gentlemen without further ado, my very good follower and front of our podcast, Mr. Glenn Hazard, welcome to the program. Are you there? And can you hear me?

Glenn Hazard: I am. Can you hear me?

Mercedes: I can. Thank you for joining us, Glenn. I know it’s been a rough couple of days for you because you live in Boston and I heard that you’ve gotten I think 14 inches of snow. Is that the case?

Glenn: Yes, it is.

Mercedes: Well, welcome. I’m in beautiful southern California. I do not mean to rub that in, but it is not 14 degrees here. Nor have we received 14 inches of snow. So Glenn, thank you for joining us. And tell us a little bit about Glenn.

Glenn: Well, I’m probably the average person, I guess as far as you know, I’m married. I have two kids. I’m 47 years old. My background is firefighting and military. So as far as real estate is concerned, I know how to destroy properties, I guess more than build them up.

Mercedes: So you are a firefighter?

Glenn: I am.

Mercedes: How long have you been doing that?

Glenn: Almost 20 years now.

Mercedes: 20 years. Unbelievable. And do you absolutely love it? What is it that keeps you on the firefighting force for 20 years?

Glenn: I’m going to modify the answer because the truth is … I do like it, but it’s different now that I’m older. It’s a younger man’s game. I make a good check, that’s the truth. I’m over the hump as far as getting close to my retirement, so I mean, I’m just going to hang on. There’s no reason for me to leave, but the older I get, the more dangerous it gets. That’s the truth.

Mercedes: Wow. Glenn, thank you for being so absolutely honest about that answer. I speak to so many people that love what they do and then there’s other people that do it because either they’re good at it or because they have to. And the fact that you’ve been doing something for 20 years and you’re doing it because it’s good pay and you’re close to retirement is something that so many people can relate to. So thank you for sharing that.

So tell me a little bit about … I’m going to allow you to take over our conversation because Glenn, you were a little gem. I remember when you and I first started talking, it was a whole different completely Glenn. Glenn has been a follower of the show I want to say for about five years. Is that Glenn?

Glenn: [inaudible 00:07:32]

Mercedes: How long have you been following Epic Real Estate?

Glenn: I contacted you. I remember very clearly because I was getting ready to go somewhere when I was still on the National Guard. We met, well I contacted you roughly about May of 2015, had our first conversation.

Mercedes: Okay. And what made you reach out to me? How did you learn about us?

Glenn: I actually got an email from Rich Dad, Poor Dad and Robert Kiyosaki was interviewing Matt. I still get stuff from him and I’m always curious to see what he says. And he likes to promote certain business models every now and again because of their effectiveness. And I believe because of … I don’t think it was so much about flipping because there’s a lot out there about flipping. I think it was mostly about the Cash Flow Savvy and the turnkey operation system. And it just piqued my interest and I watched the interview, I believe it was about a half hour or so. And so Matt was sitting there directly right next to Robert Kiyosaki. It’s like wow. So I decided there was a link there and everything. I had your contact information and I called it. That was back I guess when you directly answered the phone.

We had several conversations if I remember. I was skeptical, and I was only skeptical in the sense that, first of all, I had never heard of a turnkey operation. So I was like, but I always wanted to do in the back of my mind, I always wanted to do real estate. And if you just buy a book, you can’t learn from that because now that I know a little bit more about real estate, this is the systems and you can’t get that just from reading a book.

And so you invited me out and that I believe was your first Epic Intensive, if I’m not mistaken. And that was in Universal Studios, LA, and it’s like, believe it or not, Mercedes, I really followed my heart on this. I listened to what my gut was saying. Something just said, go out there. And I was like, I had to take a chance. And it was a lot of faith and trust and I just went out and did it. I had to finagle my way around my wife at first.

Mercedes: I remember. I know she was not on board. I do remember that. Yeah. In fact, you lied to her about where you were going. I remember that. Actually, you created a useful fiction. Is that correct?

Glenn: Yeah, I mean, my mindset was I need to do what I gotta do and I just did it and I have no regrets. I look back and I don’t think I would’ve done anything any differently. I went out there and met you guys, felt comfortable, had a great time because I had never been out to LA. So it was interesting at that point.

Mercedes: What made you feel comfortable about the team? I specifically remember, by the way, Glenn, that Intensive was five years ago and it was a combination of an Epic Intensive and something that we used to do called Grub and Grow Rich. And it was just a small evening where we just explained how cash flow and creating streams of income can make a difference for you. We no longer do the Grub and Grow Rich events, but we still do the Intensives. But I specifically remember you, Glenn, because you were first of all so skeptical and you were openhearted because you knew you needed to make a change. And by that time, you and I had had several conversations about just where you were in life, your mindset. You were in the rat race, you were working paycheck to paycheck and you were sick of it.

And I do remember three things that popped out in my mind. Number one, I live in Boston, I’m ready to get out of the snow. Number two, I remember you’re saying I’m skeptical. This isn’t going to work. Why is it going to work for me? And number three, my wife is not on board. And for us, number three was the biggest hurdle to get over because I have seen time and time again that if your spouse doesn’t support you in real estate that is like a recipe for failure. And you did something against all odds and you kind of fabricated why you were coming out to LA. And I remember when I learned about that, I got upset and I said, “Glenn, that’s not the way to do it.” And then you went home and you fixed it. And I remember you did that and you called me to tell me, “I told my wife the truth.”

So tell me a little bit about that. Why was she not on board? And then how did you end up telling her the truth after you came to LA to spend three days with us?

Glenn: My wife is pretty in touch with the intuitive world, I guess you would say. She sensed something and every time we might have talked about something, she just, she can sense things. And it was a matter of time, I had to just come clean anyway.

Mercedes: So what did you come clean about?

Glenn: Well, I told her my lie was that back then, I was still in the National Guard. So it was not uncommon for me to go away every now and again for training or whatever. So that’s what I did. I told her I was going on training because even for three days. I’ve gone away for three or four days. I don’t always go away for a week or two or whatever. So she, on the surface, she bought it and so I told her, I say, “Yeah, I’m going out to California.” I say, “I’m doing a training opportunity. They asked me and I said yes.” So that was the lie.

Again, she sensed it from the beginning because kind of a woman’s thing, I guess.

Mercedes: Woman’s intuition. Yep. If we follow our gut, woman’s intuition, I get it. Okay. So you came clean and you told her, “Look, honey, I’m doing this real estate thing.” Tell me about that and then tell me what was her reaction?

Glenn: It was easier, honestly, by the time I told her I had already bought my first property.

Mercedes: I remember that. Okay, we’ll get into that. So let’s table that conversation. I’m going to fast forward a little bit and I wanted to know, you said you had real estate in the back of your mind, always. You always wanted to do it. I know you had been listening to podcasts. You yourself said you had picked up a couple of books. In fact, that’s how you were introduced to us because Robert Kiyosaki and Matt were doing an interview. So you saw that interview. By the way, Robert Kiyosaki, still a great friend. He’s always been a mentor of ours, did an amazing interview with Matt. And, so for those listeners that want to see that, it’s out there in the cloud. And it was amazing and then you reached out to us, but why real estate? And why specifically when you contacted me?

Glenn: Can I make a long story longer?

Mercedes: We have podcast listeners that are interested. So make a long story, good and short. How about that?

Glenn: My first even thought of real estate, believe it or not, was before I was in the National Guard, I was in the Marine Corps and I was active duty. I had a friend, his uncle was a realtor. He was talking to him on the phone and he told him, “I got a friend, he’s interested in real estate.” So he ended up talking to me on the phone and I would … I dunno if he would agree with this, I think he probably would, but he said one thing that just stuck in my mind, and he says, “Real estate works, but you just have to go big with it.”

And he was a realtor, but he invested as well. And back then, I didn’t see the forest for the trees, but it kept, it stayed in my mind.

Mercedes: Yeah. So that word, getting big with real estate. That’s relative because everyone’s definition of big is a different size.

Glenn: I’m seeing that now because I make $200 a property, which is not a lot, but it’s like, all right, so I buy a hundred of them or 10 or whatever. That’s where the money’s going to be really coming in. But I know it works. That’s why I’m going big with it.

Mercedes: We’ll talk about that $200 a month in passive income right now. Because I want a table that too. So there are two things I’m tabling there. So tell me, you reached out to me, we talked. You went out to an event and then, you and I had a lot of conversations and you decided to pull the trigger. First of all, what happened in your mind that after all the time you and I spent on the phone and the fact that you flew out from Boston to California, you spent three full days with us. What was the one thing that said, “Okay, I’m finally going to do it.”

Glenn: I don’t think it was a specific aha moment, I guess, but at that point, it was just do it or go home. And it’s like, all right, I’m going do it. What do I have to lose? My only hesitation and my skepticalness was from previous, not real estate related, but

Business in decades. I guess that I got involved in, and my lessons learned from them were I was biting off more than I could chew, meaning I was investing all this stuff into trying to build the system without, you know, and I wasn’t putting forth the work either.

Mercedes: Yeah.

Glenn: And so that’s why I was skeptical. I just I was afraid I was gonna lose money.

Mercedes: Yeah, it’s risky.

Glenn: Push my systems and I just listened and I acted.

Mercedes: Yeah. You know, Glenn, thank you for sharing that. I want you to know that that feeling, that fear, that skepticalness. First of all, it’s common with just any person starting a new endeavor. You know fear is always part of the equation. You mentioned something that you had done other businesses before. You had tapped into other opportunities. Perhaps that’s where your wife’s mindset came in because you had failed at something, whether it was your fault or whether it was circumstances or whatever. And maybe she wasn’t supportive of you because you had lost money in other investments or other endeavors. Is that the case?

Glenn: Yeah, I believe so, yes.

Mercedes: Yeah, that’s usually why spouses don’t support often is because you know they failed at something else, and failing is part of life. There’s nothing wrong with it. What’s important that we take into consideration is that when we fail, you know, that’s a learning opportunity. Let’s take what we can from that failure and make sure it doesn’t happen again. So I get why your wife was skeptical. I get why she was intuitive because you had failed at something else before and she thought you were probably going to fail again. She probably thought, “Oh no, there goes Glenn, getting into something new.”

And that’s perfectly normal. So when you came clean and you told her the truth, I’m sure it didn’t make her happy at first.

Glenn: No.

Mercedes: But it’s changed a lot of things because you’re now on property number three. We’ll get to that. Okay, so, you took the step forward. Describe what the process was when you decided to jump on board and say, “Okay, Mercedes, I’m going to take on the first property.”

Glenn: I just told myself just to shut up and listen, let the process do its thing.

Mercedes: Yeah, okay, and how did that work for you?

Glenn: Well, because it was new, see the whole difference between real estate and my other experiences, I invested in a tangible asset. See before, I was just investing in information and this and that, and that’s the biggest difference. From day one, I was getting money almost, you know what I mean? Obviously once it closed and then a couple of weeks, maybe a month before a tenant actually got in there and you have to wait, but basically, from day one, it was working for.

Mercedes: Okay, so let’s talk from the beginning. So you decided to do it, and you jumped into our investor cue. Explain how that happened, what happened there.

Glenn: So then you explained, you know, how it’s done as far as creating an escrow account. I know there were differences because my first property was, I don’t know what you consider it, but it was my second property was a property of the week, so it was a little different thing.

Mercedes: Yeah, right, there’s a difference between the properties that are deals of the week.

Glenn: The property was 2500, the second one because it was probably the lead was only 1000. Whatever, it doesn’t matter, it’s all gone. So I did that, I opened up, I did exactly what you guys told me.

Mercedes: You moved at the speed of instruction. Okay, so what you did is you opened escrow with $2500, then you started, by the way, and the $2500 goes towards the purchase of your property and you chose the property and then that $2500 became the earnest money of the property that you chose. Fantastic. What was the choosing process like? Like when you saw properties, it was the very first time you had seen properties ever on paper because obviously, you live in Boston. The properties were not in Boston. What was that like?

Glenn: Again, it’s a matter it’s just stepping out on faith, you know, and just trust, follow what I was taught, follow what my instinct was saying. I looked at the numbers and I made criteria.

Mercedes: Good job.

Glenn: I had to be realistic, you know what I mean? It could be the greatest deal in the world, but if it’s a million dollars, I just don’t have it.

Mercedes: Yeah.

Glenn: It was like, be realistic. You know what, it’s funny because I did the same thing when I bought the house that I live in now. I was realistic with what I could afford.

Mercedes: Yeah.

Glenn: And I didn’t buy a $500,000 home because I just couldn’t afford it. So I did the same thing. I set the criteria. You were sending me the deals that were roughly in the same price range anyway, 80,000-ish, give or take. There were some that were a little bit more, but again doing the numbers, and it’s like, “Well I can afford this down payment, I can’t afford that one, so I’m going to go with these ones.”

Mercedes: Right.

Glenn: And then I looked at other criteria I had was the ROI. I want the cash flow to be a little bit more, so and my aiming point was 15%.

Mercedes: Cash on cash return, yes.

Glenn: Absolutely.

Mercedes: Yeah, you know, I really I remember us walking through this process about identifying what your criteria were. And normally, when you’re in the queue, I just send you what becomes available to you because sometimes you’ll see properties in the $80,000 price points and sometimes you’ll get a property in $150,000 price point. But one of the things I specifically remember about you, Glenn, is you were very clear as to what you were looking for. You know, you were looking for a certain bed and bath count, you were looking for purchase price amount and your ROI, and your numbers were crystal clear, which made it really easy for us to help you.

And so we were only sending you criteria, we were trying to simplify it even more. We were only sending you the properties that met your criteria so you were comparing really apples to apples. So I do remember when you chose your property, you called me about 17 times and asked me questions about the property. But I was able to answer the questions and then you finally did choose the property. So when you chose the property and said, “Yes, Mercedes, I want that property,” what happened next? Walk me through that process.

Glenn: I just started getting the ball rolling as far as my next steps. What I had to do was get that money in an account so it could get seasoned. That was big, and I find now, honestly, I find that probably to be the only obstacle just because of time wise.

Mercedes: Yeah, yeah, so what that means, listeners, is money has to get seasoned is Glenn decided to use a conventional finance mode. So he went through conventional financing, I referred him one of our lenders and our lenders are amazing because they walk you through the entire step. Glenn can probably attest to that but did the entire process step by step so that you’re not lost. And they require that the funds are seasoned and source, and basically what that means is that the money that you use to purchase this property, as a down payment and to show that you have proof of funds, these funds have to be seasoned. They have to be sitting in your account for three bank statements. We can’t see when the funds are deposited if it’s a bulk of funds, but then they have to sit an entire two additional bank statement cycles.

So if your statement goes from the first or the 30th, it has to sit the entire month without you touching those funds, and you have to show three months of bank statements. So that’s what Glenn is referring to where it takes up time because you do, you have to wait three months for that to happen. And normally, I make people do that before they jump into the queue. In your case, it was kind of simultaneous, so the closing was just a little bit longer because we were waiting, Glenn, for your funds to season, is that correct?

Glenn: Yes.

Mercedes: That’s correct, cool. Okay, so then fast forward through the closing process. Tell me about the inspection. Tell me about the appraisal for you as a first-timer, what was that like?

Glenn: Again, it all goes back to faith. I used the resources you referred me to, you gave me numbers for inspectors, lenders, everybody. Property managers, so I just realized I had enough knowledge to realize there’s no point in me trying to find my own contractor or inspector, especially to save a couple of bucks. It’s just not worth it, so I just called. You gave me three numbers, as a matter of fact, for inspectors. So I just went with the first guy, I called him, and he’s kind of old school. What I found impressive was that everybody’s up to technology as far as he gave me a full report, something I could really look at and say, “All right, boom, boom, boom, boom.” And I did not close on that house until certain issues were addressed.

Mercedes: That is correct, that is correct. And the appraisal, not the appraisal, but the inspection, tell me when you said it’s a full report, how many pages was that report?

Glenn: His wasn’t as long as my second property was 40 pages. This property, actually, was pretty long, too, but it was very organized and I really appreciated that I could zone in specifically and what issues and where to find them. Because he said, he gave recommendations, and we all know inspectors are unbiased as far as they’re the third party. They have nothing to gain.

Mercedes: Right.

Glenn: So they’ll say how it is and that’s what I want to know is the truth.

Mercedes: Right. Yeah. In each market, we purposely choose five inspectors that are in the local area, and then we give our Cash Flow Savvy Clients a list of inspectors and said, “Here, feel free to choose any of these inspectors, or you can go hire your own, we have no problem with you hiring your own inspectors.” You did say something that has a lot of truth to it. There’s no point in me to go out and find a new inspector just to save a couple of bucks. And the reality is, one of the reasons, Glenn, we provide a list of inspectors is because there are inspectors and there are inspectors.

Some inspectors have no business inspecting, and so luckily, because we operate in volume, we’ve had our share of really bad inspectors, and what I mean by really bad is you can tell they have limited experience and they have no idea what they’re talking about. And, you know, you mentioned my second property was 40 pages long. Yeah, typically inspection reports are 30 to about 50 pages. Imagine that, you are getting a 50-page report on one property. And so the reality is the inspector, they’re licensed and it is their license on the line that you can strip if you find something on the report that later becomes a huge issue.

So the inspector, one of the reasons the inspection reports are so long is because they have to disclose absolutely everything, even if it’s not an issue. And what happens is, when they disclose something about an inspection, it sounds written word sounds terrible. And the reality is, it could be that the doorbell isn’t working. I mean, it could be something not huge, but one of the reasons we do make your own inspection is number one, we want you to be very familiar with the property. Number two, we want you to be comfortable with the property. And number three, it serves to us as an opportunity to correct all the final things that we didn’t catch.

So you mentioned you didn’t close on the property until all that was corrected. Tell me, if you remember, what was that? What were the corrections that needed to happen?

Glenn: Well, I guess as a firefighter, I’m safety minded.

Mercedes: Yeah.

Glenn: And some of the things were just small repairs. The biggest issue I saw with that was there was a 20-foot tree trunk in front of their property that was rotted, it was dry rotted, it was dead. But it was still up and it’s like, so I told them, “No, get rid of it.”

Mercedes: Yeah.

Glenn: So they did, but they sent me the after pictures, and it looks like they blew it up. Like there was a big, it looked like literally like they shot at it or blew it up. And it was like, I say, “No way, are you serious?” Like it was a tree stump, but it was so jagged and it’s like, if a kid falls on that, he can die. That’s how I look at things.

Mercedes: Yeah.

Glenn: No, no, take care of it again, sorry.

Mercedes: Yeah.

Glenn: And I will not, I just will not close on a property. My second property had a CO leak.

Mercedes: Yeah.

Glenn: And it’s like those things, I respond to those on a daily basis. People die from things like that. And it’s like yeah, I can’t help but go that route. And so, they took care of it the third time around. They sent me a picture and it was nice and leveled, and I say, “All right, I’m comfy with that. I’m satisfied.”

Mercedes: Yeah. Now we do, and then this is one of the reasons that we depend on your reports as well. We do our own inspection reports. We actually do two inspections. So we do our general contractor, who does a final walk through and we have our own internal inspection. And then we also hire a third-party inspection, so by the time that you get it, it’s the third inspection and we absolutely use it to our favor to make sure that everything is on point. And you mentioned, we absolutely target the issues that are safety concerns. And ironically, with that tree trunk, no it wasn’t blown up. It was actually taken, the roots were completely removed out and so it was amazing that they thought that that was okay.

So they sent pictures of that and removed it and I thought, “Why would you not covered it up?” So it did take us a couple of times to do it, but we did it needless to say. And yeah, the same thing about carbon monoxide detectors and fire detectors. Although we go in and do fire alarms in each property or smoke alarms or carbon monoxide things. Sometimes, you know, our crew might miss one or two and that’s why we keep going back to inspect properties. So kudos to you for being so articulate about that.

Okay, so fast forward to your first closing. You did the appraisal, everything was great, all of the items in the inspection report were corrected and then you go to the closing table. So because you’re in Boston and the property was not in Boston, where was your first property? I don’t remember, Glenn.

Glenn: It was 412 Camita Road in Birmingham.

Mercedes: Okay, Birmingham, Alabama. Awesome. So then we send out a notary to you. Explain what the closing process was like.

Glenn: Well, that whole time period was, you know, I had a show, I had to send documents, check stubs and this and that. It’s a little bit better now because of the e-sign and all that, the DocuSign and all that.

Mercedes: Yeah.

Glenn: Back then, even then, I was still like I had to print out the documents, sign it and then re-scan it back in.

Mercedes: Yeah. So a notary went to your home or did they go to the fire station?

Glenn: First one they came to my home, and I actually had the same guy for my second property, but he had to meet me at my firehouse, which was convenient. And it’s like, it was flexible and that was a good experience. And I actually, because he had me the second time, he’s like, “Oh, you know, what are you doing here?” And I told, I said, “Yeah, I’m buying properties.” So I kind of put the seed in his ear, too. Hopefully.

Mercedes: Good for you, good for you. Okay, so then your first one with the firehouse, you keep talking about multiple properties. So tell me, how many properties do you have now

And how many properties does your wife know that you have now?

Glenn: She knows I have three. At that point when I told her, I was clean with everything, says, yeah, I’m going to go and do this and I’m going to go, and now she lets me go to an Intensive every now and again.

Mercedes: So, you came clean. The truth set you free and now you don’t have to lie to her. Tell me, you have three properties. Doesn’t that feel good to let her know that you’re doing everything and she’s fully involved and you’re completely transparent about what you’re doing, and the financial future that you’re creating for yourself and your wife and your two kids? Doesn’t she feel amazed by that?

Glenn: Yeah. I know the conversation aspect of it will continue and I had another level, I took the conversation to another level. I reconnected with an old friend of mine who actually experienced some success and he’s mentoring me a little bit.

Mercedes: Good for you.

Glenn: He said he had the same issue with his wife. He said, “Do this, tell your wife this. Ask your wife, say do you love me? Oh, course she’s going to say yes. DO you love me enough to trust me?” And I never really thought of that but I did it and sure enough, she’s like she’s like “Yes I do.” All right. I assured her that I’m going to bet the farm. I get it. I get it. Women want security. They want to make sure they’re not going to lose the house. They’re going to have meals and I get that. I will not take away from that. She’s got to know that what I can do on the side, what little I can put away, is going to go towards this.

Mercedes: I love it. Oh my God, Glenn. That’s music to my ears. So you have three properties. Tell me where your properties are located and in a nutshell tell me how much you’re cash flowing on each property?

Glenn: Technically I’m not cash flowing on this last property I just bought because I just closed.

Mercedes: You just closed two days ago, Glenn. So that’s why you’re not cash flowing yet but we’ll get to that. So property number one, Birmingham Alabama, how much are you cash flowing on that?

Glenn: The rent collected is $895. They take their 8% fee, which is like $80. The mortgage is $522. So I’m taking like $230 I think it is.

Mercedes: Let’s say $200 on property number one. Where’s property number two?

Glenn: That’s in Hammond Indiana. When we had the epic intensive in Indiana, the day prior I flew out to Chicago and they picked me up. They were great guys at Caps Rental.

Mercedes: I know. I love my boys over there, they’re awesome. All of my teams are awesome. I think you know this by now, right?

Glenn: I went to their office and it’s like a small town. It’s interesting. One of the guys took me and drove me to my property. I had never even heard of Hammond. Right on the outskirts. It’s on the far corner right next to Chicago, it’s that close. I’m getting about the same amount from that. The numbers are a little different. This is another lesson I’ve learned, insurance is obviously different and because of this, I created new criteria. I Will not buy a property that was built prior to or is probably older than 60, 70 years old because I learned the hard way. All the properties are obviously more liability. The property in Indiana was built in 1912 and it looks great for what it is. It was well kept and it’s bigger than I actually thought it was. When you actually get to see it, it’s like hmm. So that’s a new criterion I added prior to my closing on this third one.

Mercedes: So how much are you ash flowing on that one?

Glenn: About the same.

Mercedes: $200. You’re actually cash flowing a little bit more on that one?

Glenn: I’ve had more expenses on that house, so in theory yes, I’m cash flowing about the same. But I’ve owned that house for just over two years. But if you look at my averages based on the expenses … it’s just again, it’s a unique experience. It’s not common. But it’s stuff you’re going to have to deal with as an owner.

Mercedes: So you bought an older property and that just means a little bit more maintenance. Got it. But you’re still roughly speaking, cash flowing $200 a year. You have a little more maintenance on that, but you’re still cash flowing $200 a month, correct?

Glenn: Correct.

Mercedes: Then on your third one, which by the way, congratulations. You just closed literally two days ago on that property. That’s why you’re not cash flowing yet. However, what are the projected numbers for that cash flow?

Glenn: He’s advertising for, he being John Cook the property management, he’s putting it on the market advertising for $950 a month.

Mercedes: We are probably, yeah. We’re going to get $950. Your projections were out of $925. Yes. Our property management team on our third property is roughly … I mean they’re amazing. That’s going to cash flow a little bit more. It’s going to cash flow like in the $250 ish range. But okay. So that’s three properties. That’s two, four, $650 a month with three properties in a total of five years, Glenn. That is amazing. Now let me just kind of, the reason I ask what your cash flow is Glenn, is because you’re only focusing on the cash flow. You’re getting so much more than the cash flow. You’re getting appreciation, you’re getting depreciation. You’re also getting on that property that you talked about maintenance, you’re getting massive depreciation on that. I bet, I haven’t run the numbers, but I’m willing to bet that that property, that was the older one in Hammond, is probably bringing your highest return even if you’re not seeing it up front in your bank account every month. It’s on paper at the end of the year with your tax return with your depreciation.

Needless to say, the two properties that you purchased, they’re not in massively appreciating markets, but they have appreciated just a little bit. So as far as I’m concerned Glenn, you’re already in the positives on all of your properties simply because of everything that comes into play.

You’ve been doing this for five years, Glenn. You’ve got three properties and I commend you. You started off being skeptical as all heck. Tell me now, how do you feel about real estate. Are you still skeptical?

Glenn: I know there’s a lot of lessons I still have to learn. But when I was involved in something else I promoted it because I had to. I’m telling people now because I want to. I was talking to a coworker of mine the other day and he was really listening to me. He had gone through some issues with his wife and so he wanted to learn more. He saw my passion and I told him my story, what I told you about listening to my spirit and heart and going out and flying to L.A.

He wants to learn more. I’m just going to start talking to people. My real estate investment association is going through new leadership and they actually asked me, because I’m always … when I stand up if I have a deal, that would be a deal that you sent me, I promote it. I say “Look, I got a deal with my partners in so and so”. Everybody in their group, they always focus on Massachusets or in that area. It’s like I’m the only one pretty much. There are some heavy hitters in there that have thousands of units. I’m one of the few people that are investing out of the state.

They’re like, really? It’s like, let me tell you about it. It’s…

Mercedes: I love it. You’re doing something different. I absolutely love. Just so, for your information Glenn. I would love to come and speak to your REA group if I’m invited. I would love to plant the seed of out of state investing. Because I know Boston and Boston is a market where cash flow is a little bit difficult to come by. Good for you.

So tell me Glenn, if you were to give someone, now that you’re speaking to people and promoting what you’re doing from the heart, not because you’re making any money out of the promotion, but what is it that you would share with a new investor who’s thinking about getting involved in a turnkey out of state property. What would you say to them?

Glenn: First of all I would just say, do it. I get it. I get the fear, but I would just share with my success stories and tell them. Then I would give them a little information as far as choosing a good, obviously, I’d recommend you guys, but I would choose … that’s key, is the turnkey operation. Unless you have the team or the connections in that area, you’re not going to find anything out of state. I would recommend that next.

Then I would say, just pick a market. Honestly, they’re all probably good for the most part. They might have little challenges here and there but overall, just pick one and stay with them. Be comfortable with it. Study it a little bit. After I bought my property in Birmingham, I reached out to people in Birmingham and I actually found out that they had a really big fire department. You can still work through your property managers in building a little team and that as well. I would just encourage them. If they continue to ask me for advice I would give them what I know.

Mercedes: What would you say, Glenn, has been the biggest lesson that you’ve learned through this entire ordeal?

Glenn: Start now and just do it. I know that I’m not going to waste time anymore before I did. When I found something that worked I just went with it and rolled with it. I’m not looking back.

Mercedes: Glenn do you mind sharing how old you are with our audience?

Glenn: Sure thing, I’m 47.

Mercedes: Awesome. So that means you started when you were … when did you actually start looking into real estate?

Glenn: Legitimately when I talked with you guys.

Mercedes: Okay. So five years ago. Good for you Glenn. I do remember finding the money was an issue with you, or so you thought it was an issue because you did have money, you just didn’t know that you had it. That’s the problem with so many people they say yeah I have money in my 401K, I have money in this IRA, I have money over here but it’s not enough. No, I always say to people, find the deal and the money will come. If you have money in vehicles, doesn’t mean that you can’t use that money. You just have to use it in a different way. I think that you’re a testament to that as well.

Glenn. I cannot that you enough. If there is one thing, only one Glenn, that you can tell our new investors that are just thinking about doing this. Like you, they had been thinking for a long time and they’re skeptical. What’s the one thing that you would say to them right at this moment?

Glenn: Have faith and do it.

Mercedes: I love it.

Glenn: Ready. Shoot. Aim.

Mercedes: Ready. Shoot. Aim. Couldn’t have said it better than that. From a firefighter … you were a marine as well. Ready. Shoot. Aim. Just do it. I absolutely love. Glenn, thank you so, so much for your time, for your candidness and for really putting your heart out there for our listeners that, believe it or not, experience in many cases the same exact thing that you experienced. They didn’t have their spouse on board, they’re afraid of failure, they’ve been thinking about doing it for a long time. They’ve read the books, they’ve listened to the podcast and you just, after so long, took a leap of faith and you did it. Now you have three properties that are all cash flowing. So proud of you, Glenn. So honored to call you a friend of the show. Glenn, thank you so much for your time, have a great day and keep warm.

Glenn: All right I will. Thank you for having me, Mercedes.

Mercedes: You’re welcome. Take care. Bye-bye.

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