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Running Your Wholesaling Business Virtually with Chris Arnold

SHOW SUMMARY:

Chris Arnold is the co-founder of COSA Investments, one of the largest wholesale companies in the DFW Metroplex. COSA is operated and managed by a US virtual team which has allowed Chris to run his company while living in Tulum, Mexico. He is also the founder of Arnold Elite Realty, a cutting-edge boutique brokerage consisting of a team of seasoned agents. His passion for coaching and mentoring entrepreneurs has led to the creation of “The Multipliers Mastermind.”

In this episode, Chris talked about how he got into the virtual wholesaling business, how he runs the business, and the importance of the roles of each members of his team.

SHOW HIGHLIGHTS:

  • Buying over 250 houses in the DFW area last year
  • Building a virtual company
  • Who Chris Arnold is
  • Why he prefers wholesaling over brokerage
  • Having an integrator running his brokerage
  • Having an exceptional team
  • What an integrator is
  • Visionary vs Integrator
  • Being a visionary
  • 3 reasons the visionary and integrator roles do not exist in a lot of businesses
  • How his virtual wholesaling business is structured
  • Marketing on radio
  • Managing calls from their radio marketing
  • Number of people on his team and the roles of each
  • Their exit strategies
  • ABC core values (Always Be Changing)
  • Building a sense of camaraderie virtually
  • On “The Multipliers Mastermind”

Quote:

  • "We got into the business for the freedom that it creates."
  • "A visionary and the role that everyone should end up in for the most part, generally speaking, is to where your job is to bring ideas and not to execute on them."

RESOURCES AND LINKS FROM THIS SHOW:

SHOW TRANSCRIPT:

Larry: Welcome to the Brain Pick-A-Pro Show live from Lake Wylie, South Carolina, and all the way down in Tulum, Mexico, hanging out somewhere near the beach, where he lives full time, is my good friend, long-time fellow Mastermind member, and just an all-around awesome, super guy, I’m really excited to have him on, is Chris Arnold. What’s going on, buddy?

Chris: Just hanging out. Good to be here hanging out with you too.

Larry: Awesome, man. For you to be living down in Tulum, Mexico, you know, hanging out down there, it looks awful dark in the background, you need to have some kind of an ocean background setting yourself.

Chris: We actually just did some painting yesterday, so we’re in process of remodeling our condo.

Larry: Awesome, awesome. That’s really cool, that’s really cool. So, the reason I wanted to get you on, Chris, is I’ve known you for a long time. You’re a super great guy. I mean, yeah, you’re hugely successful in your real estate business, but you really live the kind of life that a lot of people dream of. You’re able to run your real estate business virtually. In fact, you bought over 250 houses last year in the DFW area, Dallas-Forth Worth, and you don’t even have an office, do you?

Chris: We don’t. We have no brick and mortar and actually about 90 percent of our staff don’t even live in the state of Texas. So, they’re all around the US. So, I’m not the only person – it’s not like we have an office in Dallas and I snuck away. We truly built a virtual company, so we have a couple people that are on the ground there, you know, that need to go look at a house or take pictures like an inspector, but other than that, we are fully virtual, no brick and mortar.

Larry: Man, that’s huge. I love it. So why don’t you start out – I’m really excited about this. Why don’t you start out and tell our listeners a little bit about who is Chris Arnold.

Chris: So, I think probably one of the things that surprises people most about myself and my business partner, Scott, is we bought have seminary backgrounds. So we have master’s in divinity or theology, and so a lot of people say, “Well, shouldn’t you be a pastor or a missionary or something along those lines?” and, for Scott and I, we got into business for the freedom that it creates. The freedom of location. The freedom of resources, to be able to utilize those resources to impact different ministries and so forth, and that’s why we kinda joined up as business partners. We really had that same vision. So, from the very beginning, real estate for us has just been a vehicle. I think it’s a fantastic vehicle if you wanna be able to control your life, control where you live, and to create abundant resources to go out and impact the world however you see fit, and that’s been really in our hearts from day one from when we started. And so – so started out in the agency side, really in a nutshell that’s how I got in the game was a real estate agent for Century 21. Built up a brokerage which I still have today, representing people buying and selling. Then we added on the wholesale piece and then finally the third company is the Multipliers Mastermind which is our annual Mastermind that meets down in Tulum, Mexico. So, brokerage, wholesaling, and education are really the three pillars of our companies.

Larry: That’s sweet. That is sweet. So, you started out with the agency, right?

Chris: Yes.

Larry: Tell us a little bit about that. You know, that was what you started out doing first. Now, and I’m assuming that’s all virtual as well.

Chris: Correct. Same as well. It’s run virtually too. You know, that’s – people get in the game differently. Some start on the investment side, some start on the agency side. I will tell you, now that I look back and I compare those two businesses, I definitely prefer wholesaling over agency. A couple reasons, right? It’s much more systematic. You don’t have to drive people around to find properties like my agents do. You obviously receive a lot more on the cost of sale, you know? Agents expect a lot for commission versus what your acquisition manager would. So, I think there’s a lot more benefits to the wholesale side. Plus, the investment world has a lot more plug-ins like spokes in a wheel versus brokerage, I think there’s some dead-ends to that business in general. So, definitely love wholesaling over brokerage.

Larry: That’s cool. That’s really cool. So, are you still like recruiting agents for your brokerage?

Chris: We do. It’s on autopilot. So we really do have our business at a place that we have an integrator over each company which has freed Scott and I from the day to day, so I do have an integrator that runs my brokerage and, again, not in a high manner are we recruiting a lot of people but we definitely take on good people as they come along. But, you know, it’s always been my goal to build a business that bothered me as little as possible, and so that’s all about – I mean, you know –

Larry: I love it.

Chris: It’s important because for myself it’s been lifestyle first. It’s been ministry first. It’s been family first. And you can’t get there unless you empower a team to be able to do that and there’s no way that I could live down where I live and have the life that I have if we hadn’t spent the time to build an exceptional team, which we did. That’s probably the thing I’m most proud of is the team that we built. They run the show.

Larry: Sweet. That’s really cool. That’s really – and an integrator is a very, very, very important part, and share with everybody – we have an integrator as well. Kandas is our integrator, as you know. You know Kandas.

Chris: Yes.

Larry: And senior –

Chris: You have a great integrator, by the way. I have met her.

Larry: I know, right? So, tell us a little bit about what is an integrator and where that term came from.

Chris: Absolutely. That term is coined through the book Traction or there’s also another book called Rocket Fuel which really defines the relationship between a visionary and integrator, but the bottom line is, you know, the visionary is meant to think about the future to bring the ideas to the table. The integrator is the one that executes on all of those ideas. And, Larry, this was a huge transition for me because when you’re building a business, you wear all hats in the beginning. And you really get confused about what you’re good at because you are the HR person, you are the admin, you are the salesperson, you’re doing everything, and, over time, you know, you begin to wonder what your true strengths are because you’ve done every role. But a visionary and the role that everyone should end up in, for the most part, generally speaking, is to where your job is to bring ideas, not to execute on them. And so we have a rule that Scott and I, we bring ideas once a week to our different integrators. They have the trump card. They determine which ideas are gonna be executed on, which ones are not. They also choose the priority of which ideas will be implemented in what order, and they’re fully responsible for execution. And, man, that’s a great feeling to know that all we’ve got to do is come up with ideas and move on to thinking about more ideas rather than how we’re gonna execute on all of these things. And that’s really, I think, exceptional part of having a great integrator is it frees up the visionary to be able to dream ’cause that’s what the visionary is supposed to do, think about the future and come up with ideas.

Larry: That’s awesome. And I like what you said about the integrator has the trump card and can, you know, can say, “Look, we’re not gonna do this now, we’re gonna do this now,” or, “We’re gonna do it in this order. We’ll do this first, this next, this next,” right?

Chris: Yeah. And, Larry, you know, I was reading Rocket Fuel which I recommend, and, you know, the three reasons that the visionary role and the integrator role doesn’t exist in a lot of businesses is, number one, a lot of business owners don’t realize that your job could be just to think. Like you don’t even know that that’s an option, you know? You think that you’ve got to do everything and be responsible for everything, and I do want, you know, your listeners to know that you should get to a point where your job is just to think, to bring ideas, and not to feel guilty about that because that’s you at your best if you’re a visionary. The second reason obviously is giving up control. That’s hard for a lot of us. That’s probably what slowed down our process more than anything is just really giving up that control over our business and I think that that’s another essential piece as well as why we don’t do it.

Larry: Yeah. That’s hard for me. That really is hard for me.

Chris: Absolutely, it is. And then the third thing is we’ve done so many jobs for so long that we become confused about what we’re good at, so we are unwilling to let go of these other roles ’cause somehow we think that we’ve become good at them. And, Larry, the biggest thing I’ve learned is that there is somebody that’s better at me at every position in my company. And that’s a humbling thing to realize as a leader. Somebody can do it better than me.

Larry: Right.

Chris: Once I realized that, I really started letting go, because my ego began to drop on the fact that I thought I could do a lot of things better. That’s not the truth. There’s a lot of talented people out there that can do it much better.

Larry: Wow. Wow. That’s awesome. That’s good stuff. That’s good info. Let’s talk about your wholesaling business –

Chris: Yeah, absolutely. Would love to –

Larry: Now you have a virtual wholesaling business. You’ve never really had an office. All your people are like out of the area except for you’ve got a local boots on the ground that’s gonna probably take pictures of property, put out signs, open the door for people, stuff like that, right?

Chris: Absolutely.

Larry: Tell us how that business is structured.

Chris: Now, I do wanna say we did start off brick and mortar so I don’t want people to think we ground it up virtually. We made that transition.

Larry: Right, okay.

Chris: It was nerve-racking. The whole idea in the beginning was crazy, like, you know, the whole VA world and not being able to see people in an office so we did go through that process. I want your listeners to know that. It was a struggle to embrace it but I’m glad that we did. But, on the wholesale side, you know, I know marketing’s always a big topic. One of our biggest drivers for lead generation is radio. I don’t see a lot of wholesalers doing this. Larry, you and I go to a lot of Masterminds. We have a lot of friendships with a lot of people doing wholesaling. You know, everybody’s doing direct mail, everybody’s doing online marketing, bandit signs, you know, those basic things, but I’ll tell you that for us, radio has probably been the most exceptional lead generation piece we’ve ever put in place. And to give you an idea, we’re on about seven to eight stations at any time with a marketing budget that ranges from about $30,000 to $40,000 a month.

Larry: Wow. That’s a lot of marketing right there.

Chris: Yeah. So we’re big on radio. We invest in it, and so when I tell you it works, it’s working for us at a big level.

Larry: That’s sweet. So, when you do radio commercials, and at thirty to forty grand a month, I know the phone’s ringing off the hook. You send them to a phone number, not a website, correct?

Chris: Yeah. So, that’s a great question. We have built an in-house call center where we have a VA that’s on different shifts. Again, we tried to outsource it in the beginning to other third-party companies, but it was just much easier for us to build a shift system. So off of that type of budget, though, to give you an idea, it’s not like direct mail where you’re receiving, you know, we’ve had months we received over a thousand calls, you know, if you’re dropping like we were 80,000 to 100,000 pieces of direct mail. We average about three hundred calls per month off of that. So it’s not overwhelming, like some people would think, because if somebody picks up the phone off a radio ad, they’re usually pretty serious versus direct mail, half the calls you get are people that are just angry ’cause you put something in their mailbox so you got a lot of filtering to be able to do.

Larry: You’re exactly right.

Chris: So that’s why we like it. Remove all the junk calls, all the angry people, all the tire kickers, and boil it down to a much higher quality lead, and I would say it’s probably one of the highest quality leads we’ve been able to ever generate off a marketing piece other than like call wholesale or referral or something along those lines.

Larry: Right.

Chris: And so, our VAs take those calls. We do not run them to the acquisition manager directly. I do not think that that’s a good idea. I think it’s a waste of their time. So every lead is answered live, it’s pre-screened by our in-house call center, and if it looks like it’s a good lead, then it’s escalated up to the acquisition manager and then they’re responsible for getting it closed at that point. But we wanna make sure that what we put in the acquisition manager’s hands as a lead is a good quality lead.

Larry: That makes a lot of sense. It really does. And, you guys contracted 250 plus houses last year, right?

Chris: Yeah. 225, to be exact.

Larry: 225, okay. And – that’s still a lot.

Chris: I don’t like when people BS their numbers so I want them to be right.

Larry: Having said that, how many people do you have on your team? You already mentioned, I think you have three different VAs, like different shifts. Maybe you mentioned three, I’m not sure, but you have different shifts for your virtual in-house call center and then, like how many acquisition managers do you have? How many salespeople? Do you have a closing person, a marketing person?

Chris: Absolutely. So, in total, and I’m giving my best guess, it starts to get to that point where you’re trying to remember exactly how many. I’d say that we’re somewhere around maybe fifteen to seventeen people at this point including my business partner and I. On the sales side, we have four people. We have two acquisition managers. We also created a position that’s called the agent developer, and this is someone that can do both wholesaling as well as take listings, because if you’re generating a lot of wholesale leads, we know that there’s listings in there ’cause the seller’s either gonna go the wholesale route or they’re gonna go the retail route. So, he’s been an agent with me for ten years and he can go out and do a cash offer or a listing. And then we have what’s called a unicorn. And these are just terms that we’ve created over time. And our unicorn is really a hybrid salesperson that’s half administrator, half salesperson, and she’s responsible for digging deep into the old leads and pulling everything out of it that she can. And you guys know, if you have an acquisition manager, they’re not gonna do that, right? Their ego is a little bit bigger. “That’s a waste of my time. I’m not scraping through the bottom of the barrel.” But, fortunately, our unicorn has a different mindset and she does a great job of scraping the bottom and pulling deals out. So, two acquisition managers, one wholesale developer, and one unicorn is our sales team. And then –

Larry: I love it.

Chris: Yeah. So, it’s a variety. Not all acquisition managers. So, we do like having a variety of the sales team. The other probably important positions would be – we do have a marketing director that manages our marketing. I think that that’s really important. We also have a comp runner who runs all the comps. Larry, this is a little bit different. Our acquisition managers don’t run comps. Again, I think that’s a waste of their time, so we have someone that’s running comps full time to make sure that when we’re purchasing properties, we purchase them for exactly what we want.

Larry: Right.

Chris: Let’s see. What else we have that might be unique? I’ve got a full-time director of sales that’s – director of sales but director of properties, to be more precise. She’s responsible for negotiating with all of our investors on the wholesales that we do so she maintains all of those relationships and she’s the one that resells them to the backside investors. And, again, we can go on. We’ve got several other positions but those are a few that kinda highlight that might be a little bit different than what’s seen out there.

Larry: So what does your director of sales do that’s different than your four salespeople?

Chris: Again, my director of – director of properties or?

Larry: Yeah, the director of sales, the properties, that does the investor relationship.

Chris: Yeah. She’s just moving the properties once they’re contracted by the acquisition manager. And let me state this. I know that some people have their acquisition managers resell the contract to the backside investor. We don’t do that either. That’s what she’s doing.

Larry: Yeah, we don’t do that either.

Chris: So, our acquisition manager does nothing but get signatures on contracts. They don’t drive out to properties because they are contracting everything over the phone. They don’t run comps. They don’t communicate with the seller after the property is contracted. That’s a rarity if they do that. Their sole responsibility is just to execute. We removed everything off their plate but closing.

Larry: That’s awesome. So, your four salespeople, they’re not selling the properties, they’re selling the seller, right?

Chris: Yeah, they’re contracting.

Larry: Okay. And then you have two acquisition people. How is that different than your salespeople selling the seller?

Chris: So, when we say salespeople, not to confuse that, the four people that I mentioned, the two acquisition managers, the agent developer as well as the unicorn, they are solely contracting properties with the sellers. That’s it. So when the leads are coming through radio or direct mail or online marketing, they’re the ones that are converting those. So that’s those four people. The other person I just mentioned, her responsibility is to resell them once they’re contracted to the investors.

Larry: Right. So –

Chris: Did I clear that up?

Larry: Exactly. Thank you. I think the important thing to note here is you have four acquisition to one salesperson.

Chris: Yes. Yes. When you say – now I understand what you mean by sales. Sales meaning reselling the property. Yes.

Larry: Or – yeah. Some people even say acquisition and disposition.

Chris: Yes. That would be a good way. So I have four acquisition, one disposition.

Larry: Right, right, right. That’s good. That’s good. Because you’re probably selling most of them to your buyers list, correct?

Chris: Yes, but we have three exit strategies which I think is important. We, of course, wholesale. We also believe that every property should be evaluated, determine if it should be whole-tailed, which means we’re simply gonna take it down for cash, we’re not gonna touch the property at all rehab wise and we’re gonna put it on the MLS. Because I and my partner and my team believes the MLS is the best buyers list if you’ve got to buy property. And then our third strategy is what we call a light rehab or a lipstick rehab, and that is, you know, if we can get in, throw a little bit of paint and carpet and clean it out, I mean minimal rehab because we do not wanna be in the rehab business, then we will go ahead and do a light rehab. And so every time we take down a property, it goes into one of those three buckets on selling it.

Larry: That is awesome, man. That’s good stuff. You know, you mentioned the phone rings about three hundred times a month –

Chris: That’s for radio. That’s not including direct mail.

Larry: Oh, you’re still doing some direct mail?

Chris: Yeah. Funny enough, up to last week, we just cut direct mail. We had been running direct mail for six, seven years. We were always receiving about a one-to-four return, but for our market, it just began to become over-saturated and we literally shut down direct mail. As we say, one of our core values is ABC, Always Be Changing, and, man, that was a tough decision because it’s been such a core part of our business. You know, we’ve done it for so long, but it was time to shut it down because it wasn’t bringing the returns that it used to.

Larry: Well, I’m sure as much direct mail as you’ve been doing, your unicorn is gonna have plenty of leads to continue going through for a while.

Chris: That’s right. We had points we’re doing 100,000 pieces of direct mail a month and, you know, those were well over a thousand calls a month coming in. It’s a brutal system to manage, you know? Again, depends on your market. I’m not telling your listeners that direct mail doesn’t work, but it is a high management piece of lead gen. You gotta build the list. It’s all about data right now, everyone, you know, the better data on the list you can get, the more successful you’ll be. You know, you’re always adjusting your postcard, what color it is, what, you know, you’re saying on it. Then you having to manage the calls and there’s days where I’d have my VAs in tears because someone called them and just laid into them about a piece of direct mail in their mailbox –

Larry: Yeah. “I’m gonna sue you for sending me a postcard.”

Chris: People can be cruel, right? So in comparison to radio, let me say this, when we made this decision, I literally think my team stood up and applauded, virtually I mean by this, ’cause they were so sick and tired of dealing with some of the negative aspects of direct mail. And this is just my experience. Some of you right now might be slaying it off direct mail, keep doing it. For those of you that have held on to it and you might be going, “Man, I’ve been feeling like I wanna drop it but I don’t know if I can,” then let my story tell you that it might be time for you to make a change too and do something different.

Larry: I hear you. I hear you. You know, there’s a lot of big institutional buyers out there now, you know, Opendoor and some of those guys that are buying stuff. They’re all over the TV, but I haven’t really heard too much on the radio about them so maybe that is a good thing. We’re mailing out about 25,000 pieces a month.

Chris: Yeah.

Larry: And I gotta tell you, man, I just started direct mail, right? I was in a great market in the Carolinas where I could still buy enough deals off of HUD and the MLS up until recently. So we just started and this is a new thing for us. We’re in the process of putting our systems and processes together and some of these calls I’m still taking, just to learn the whole model, learn the system, ’cause I’m a firm believer in you need to know to be able to do it yourself first so you know and can make sure nobody’s gonna take advantage of you, you know, if, you know, “This doesn’t work” or “That doesn’t work.” Well, it worked for me, you know what I mean?

Chris: Yeah, absolutely.

Larry: So maybe I’m looking at it a little bit wrong. I do agree with what you said that there’s other people out there that could do stuff better than you but I also believe you need to know how to do it yourself first.

Chris: Agree.

Larry: So I’m going through that right now what you’re saying with – I mean, we got a call yesterday from an attorney, you know? “My client gave me your postcard and, you know, you need to remove them from their list. If you don’t, we’re gonna be suing you.” So – and I actually took the call. So, this is funny, you’ll like this. I said, “You know, I’m not trying to be smart here, but what can a person be sued for for sending a postcard?”

Chris: Right, exactly. It’s a little bit ridiculous. You know, my deal is, look at your return. Our rule of thumb is we’re always looking for about a one-to-four return on anything that we do. So, you take the total amount of revenue, you divide that by the amount of money you’re spending and if you’re not running about a one-to-four return, then you need to drop that marketing. And if you’re running above that, fantastic, I congratulate you. But that’s been our rule of thumb. And so I wasn’t – I was willing to put up with the BS, Larry, on direct mail when we were running a one-to-four return, right? I’m quadrupling my investment so I’ll deal with the hassle, but when it started dropping to one out of two, it was like it’s time to go.

Larry: So what you’re saying is if you spend ten grand, you wanna collect forty?

Chris: Absolutely.

Larry: Yeah.

Chris: Forty. Yeah, that’s before you subtract out commissions and so forth but that’s just a napkin rule of thumb. You should be shooting for a one-to-four. Higher than that if you can but that’s always been our rule, one-to-four on a marketing piece.

Larry: Right. Now, Chris, is – are most of your people on commission or do you have salaries or how does that work?

Chris: We talking the admin or salespeople?

Larry: Yes.

Chris: Both. So, let me say this. The great thing about running a virtual company is everybody is 1099. That saves us a lot of money and we can legally run a 1099 because we don’t control their hours of when they show up, when they leave, and all of that. So that’s been great for us. I do have one admin in Dallas. Again, someone’s gotta go to the mailbox and somebody’s gotta deposit checks and so, you know, she’s traditionally a W-2 but everybody else is 1099. On the sales side, straight commission, 100 percent, so we don’t pay any type of base salaries for our salespeople.

Larry: Yeah, okay. That’s cool –

Chris: I love the VA world. I mean, I could go on and tell you all the benefits of running virtually versus in an office. I mean, it’s a night and day difference in a company.

Larry: I believe it. I believe it. I’ve always liked that camaraderie of coming in, high-fiving. We have a bell in the office that we ring the bell when we get a house under contract or to buy or sell or have a closing and I’ve always liked that, but, you know, the more I talk to you, in fact, on our last Mastermind, I’m like taking all these notes, I’m like, “Man, this would be great,” you know, because office over – you don’t have to worry about servers, networks.

Chris: All that expense is gone.

Larry: I know, right?

Chris: All of it’s gone. We have less drama because when you put a lot of people in the same room day in and day out, they’re gonna trip and get in each other’s way, you know? “Who drank my Coke that I put in the fridge that had my name on it?” You know, in the office, it’s just that silly stuff, as a business owner, you go, “Are we really dealing with this?” But I will tell you this. We have gotten really creative – you know, you talked about ringing a bell and, you know, creating that camaraderie. You can do it virtually. So I’ll give you an example of something we’re doing virtually right now. Every Wednesday, we are all on WhatsApp and that’s kind of the way that we talk and share with each other pictures, videos, but right now we’re doing a process called the “day in the life of” and most of these people that we have hired, I’ve never met face to face. Like my integrator, like for my wholesale company, and we kinda have two COOs, I’ve never met either of them face to face, ever. Never met these people, and so – but we have such close relationships, like we are a very close team. But right now, on Wednesdays, someone will do a “day in the life of.” From the time they wake up ’til they go to bed, they’ll take a picture of, you know, their dog or their kid or, you know, what their morning routine looks like and, you know, they’ll take a picture of their virtual office and how they’ve set it up, and you can do these things virtually that still create a strong sense of camaraderie, and I would argue, Larry, that our team is probably closer than the majority of teams that work in a brick and mortar office. We are very, very close as a team virtually.

Larry: I love that. “A day in the life,” every Wednesday, one of your team members is just – they’re just taking random pictures throughout their day.

Chris: And videos, and it’s fun because these are people that live all over. You know, I have one that’s in Puerto Rico so her “day in the life of” was pictures from her, you know, living in Puerto Rico, which was amazing, you know, and so you really get to see people’s lives. And so I – bottom line is I just wanna communicate that you can create a deep, rich culture virtually. You don’t have to have an office in order to do that.

Larry: That’s really cool. Man, I love that. I love that. This is really good stuff. Man, I wish we could go on forever. We’ve already been on here almost a half an hour. And what I would like to talk about is, you know, you mentioned earlier that, you know, you have three different, you know, businesses now, the realty company, the wholesaling company, and now the education side and that’s something that I’m really proud of what you’re doing because you’re doing it a lot different than a lot of people are doing this. I mean, there’s a lot of educators out there that do what I do and you do – and a lot of other people, but you really have something that’s different. So share with us a little bit about The Multipliers Mastermind.

Chris: Absolutely. Well, just so you know, Larry, my business partner and I are – we call ourselves kind of Mastermind junkies. We’re coach junkies, I mean. We always have several coaches that we’re working with one on one at a time and I think we’ve been to just about every Mastermind that’s out there. That world of Mastermind and coaching has probably impacted our lives more than anything. If we were to look back and go, you know, what has grown us to the level that we’ve gotten to, it would be surrounding ourselves with the right people. It’s always, people always gets you to where you wanna go. It’s always a person’s story of how I got to where I’m at. So as we were a part of a lot of Masterminds, we felt like there was something missing, and Scott and I, again, this goes back to why we built what we built, we have a heart for people. I love entrepreneurs. We as entrepreneurs, we come with a certain set of problems. We tend to be very excessive by nature, and Scott and I wanted to build a Mastermind that really impacted both the business and personal side of the entrepreneur’s life. But we wanted to do it in a very different way. So a few things I would say that are differentiators for us. Number one, our Mastermind is focused just predominantly on A-player investors. A lot of Masterminds out there are saturated. You get A, B, and C players, mid level, newbies. We bring in the best of the best, and that’s how we wanted to build it from the beginning. The other thing is we focus on diversity on the real estate, so multifamily to developers to hard money lenders to wholesalers to brokerage, you name it, we have all of these different industries that are represented there, and that makes a room very interesting. The other thing that was important for us was experience. I’ve kinda gotten tired of going to the traditional hotel in a traditional city sitting in a ballroom with bad carpet and bad lighting. That does not inspire me. Put me somewhere that I’m looking at something that energizes me and so we actually host our event in Tulum, Mexico, in a gorgeous house right on the beach. We’re literally, Larry, like sitting on the back patio. You can hear the ocean waves in the background. You feel the breeze. And the guys that came to our last event were like, “This is how it should be,” because you’re inspired not just by the information in the room but you’re unplugging because of the environment that’s been created. And that’s been really important for us as well. And so those are a few things that have made it really different, and fourthly is our format. Larry, you know a lot of the formats for Masterminds tend to be very repetitive. One of our business partners is an expert when it comes to facilitating, 15,000 hours of facilitating. And so our format is real high pace, really engage, and so a lot of the guys commented on “Never looked at my watch, never needed to open up my computer because the time went by so fast.” So we love it, man. I appreciate you asking about it and we’re really excited about The Multipliers Mastermind that we’ve built.

Larry: That is awesome. Now, how often do you have these events?

Chris: Yeah. So we do an annual event in Tulum so we do a two-day event but we turned it into a hanging out on the weekend so it’s a Thursday, Friday, but everybody stays ’til Sunday and spouses are invited as well and the spouses hang out. They don’t actually partake in the actual room ’cause that’s not fun for them to sit around and learn about real estate but they hang out together as spouses and so it’s a two-day event with a weekend hangout. The website, if anyone is interested, is themultipliersmastermind.com is the website. Shows you all the videos and dates and everything.

Larry: That’s great. Themultipliersmastermind.com.

Chris: Yes.

Larry: That is –

Chris: Obviously I love it. It is a passion project, Larry. Scott and I say we would have done it for free because to get, you know, a great group of people together to inspire one another, to share ideas but also to be vulnerable and talk about the hard things. Man, that’s why I went to seminary. That’s why I built the business that I built. It’s all about impacting people’s lives, and so Multipliers Mastermind allows us to do it so very excited about it. Man, it’s a passion project for us.

Larry: And it’s not just about real estate. I mean, it’s about doing life together, right?

Chris: It’s everything. It’s a completely different experience. We kinda did it this way, Larry. We laugh about it. We pretty much do everything opposite of every other Mastermind. As George Costanza on Seinfeld, you know that Seinfeld opposite day, you know, “I’m just gonna do everything the opposite.”

Larry: Right, right, right.

Chris: That’s what we’ve done. We just looked at everyone else and go we’re gonna do it differently and we’re gonna do it this way and so that methodology has worked for us. It’s very backwards from what people are used to and people love it.

Larry: Man, I love that. That’s awesome. That’s awesome. And the website is themultipliermaster – themultipliersmastermind, plural, right?

Chris: Yeah, plural, dot com.

Larry: Themultipliersmastermind.com and is that the best way for somebody to get in touch with you if they wanted to reach out?

Chris: Yeah, absolutely. You go there and fill out a web form and, yeah, that’s the easiest way. I always recommend, “Go look at the videos, go look and see what we’ve built. Man, you watch two or three of those videos and you’ll get it.” It sells itself at this point. So we captured the experience for people so we definitely recommend that they go there.

Larry: That’s awesome, man. Hey, I really, really appreciate you sharing this. This has been some great, great stuff. I have literally a page full of notes, right? So this is good stuff. I appreciate you sharing. It’s been awesome.

Chris: Man, Larry, to hang out with you has been great. I don’t know if your listeners know but you and I are in a Mastermind together right now. We’ve been in another Mastermind in the past, so, you know, it wasn’t a month ago that you and I were almost literally sitting right next to each other and so, man, you’re a smart guy. I love the feedback and the value you bring to the Mastermind and you do a podcast so you’re just all about adding value so, man, it’s an honor just to hang out with you today and be able to do this together. It was a lot of fun. I appreciate it.

Larry: I really, really appreciate you being on today. It’s been a wealth of information. Thank you so much, and I just appreciate you, man. Appreciate you and what you’re doing.

Chris: You too. Thank you.

Larry: Thanks a lot.