Brian Trippe is a successful real estate entrepreneur and the president of the Alabama Real Estate Investor Association (AlaREIA). Through AlaREIA, he helps local investors by teaching them effective real estate techniques and strategies. Brian is also a real estate mentor and coach and hosts a local mastermind where he invites the most prominent and successful investors to share their ideas, strategies, and insights.
However, the versatile real estate investor (he now owns over 70 rentals and a mobile park and has over 250 wholesale transactions under his belt) didn’t always have things together before discovering real estate. He had to juggle several jobs and make real estate mistakes before he made it big in the real estate world. For him however, the lessons, experiences, and insights have all helped him succeed in the industry.
If you are looking for real estate inspiration and motivation, this is one episode you shouldn’t miss!
Insight of the Week:
Picking one thing and doing it well
“Whatever you do, work at it with all your heart, as working for the Lord, not for human masters.”
In this show, you’ll learn:
- Brian’s background and how he got into real estate
- What changed his outlook on money and finances
- His first wholesaling deal
- What his initial WHY is
- Scaling his wholesaling business
- How he provides value to people in the real estate industry
“Take whatever you do well, take your gift, and just be an expert at it. Be a professional. Figure out how to do it to the best of your ability and crush it down the road.”
“Anyone can do something like this.”
“It’s all about providing value.”
“Communication is obviously the key.”
“You need to have people in your corner.”
“Don’t do what we do, do what is right for you and for your family.”
Profile: Brian Trippe
Thanks for Listening!
Brett: You got to be the same team on the court as off the court. How many deals do we get before we shoot?
Brett: How many?
Brett: Four. You want respect, you got to earn respect. Do not worry about the crowd, do not worry about what people say. You got to be you. Who are we? Simple Wholesaling, Simple Wholesaling. This is the Simple Wholesaling podcast episode 115.
Welcome to Simple Wholesaling. A Christian podcast that supplies simple, yet effective content for real estate investors and business entrepreneurs. Get advice, tips, and tricks so that you can stay true to your values and achieve your dreams with real estate investing you can trust. Now, introducing your host, Brett Snodgrass.
Brett: What is up all you fans out there? Thank you for joining us again on another episode of the Simple Wholesaling podcast. I am your host of today’s show, Brett Snodgrass and I am with my co-host, Brian Snider. What is up man?
Brian: How is it going?
Brett: Good, good. I am looking forward to today’s show with our guest Brian Trippe.
Brian: Very much looking forward to today’s show. Actually, now I kind of want to go out and shoot some baskets.
Brett: I do too. Do you want to go play some one on one?
Brian: Yes. Let us do it. Although what happened the last time I played basketball with you?
Brett: Yes. That was not… Let us not re-visit that but let us tell what has happened. I have known Brian for many years now, good friends, and I used to play college basketball which is why we played at the Hoosiers Cliff which is probably the best, I think it was voted the best sports film of all time.
Brian: It was pretty good.
Brett: Yes. It is about a small town Indiana basketball, Muncie, Indiana. They are called Hickory in the movie but they were small town, one class, and they beat the big school for the championship. Anyways, I used to play college basketball and I was pretty good when played the Huntington University but I had not played in years. In our little town of Cicero, Indiana, for the 4th of July, they have a three on three basketball tournament. I thought who do I know that plays basketball. I called a few of my friends and one of them was Brian.
Brian: Again, I probably had not played for about ten years and I am ridiculously out of shape and stuff but yes we can take them on, we can do this, we will be pretty good and yes, I think first game we got in, I do not know, maybe five points have been scored total between the two teams and Brett goes down.
Brett: Yes. I did.
Brian: There went his Achilles.
Brett: I felt something hit at the back of the leg. I thought that there was another game right behind us and I thought someone threw their basketball and hit me in the back of the leg as I dove for this ball. I turned around and realized there was nobody there, there was not another basketball there, that nothing had hit me but I had popped my Achilles tendon and I had gone down to the emergency room and then six months later, rehab, wearing the boot, the whole nine yards and literally to this day… How many years ago was that?
Brian: That was like four years ago.
Brett: Four years ago. Because we are almost at 4th of July. I still feel that Achilles. It does not has healed totally.
Brian: I think that actually might have been the first time that you and I spent time, just you and I, without anybody else around. Otherwise or anything, it was just in the hospital and it was a…
Brett: Yes. Because you took me there and I was just freaking out because when your leg is not connected to your foot, it is pretty odd. Anyways, that is my experience with Brian playing basketball. But Today’s show, we interview Brian Trippe who was a Division One college basketball coach and he was only making $6000 a year doing that but it taught him amazing work ethic. Since then he went to a seminar and he got into a program with the Rich Dad Poor Dad and he made $10000 on his very first deal which was more than he was making as a whole year of coaching.
With that said, end of the story, he runs one of the top REIAs in Alabama, the AlaREIA, and one of his goals is to run the biggest REIA in the nation. Amazing guy. He has wholesale businesses and now they are buying mobile home parks and doing the whole nine yards with that and he has met one of his goals where his wife was able to stop working her job that she did not like. She would actually call him up crying because she did not like her job so much. Amazing interview with Brian. But before we get into all of that, let us get into Brett’s Insight of the Week.
Brett’s Insight of the Week
Now, simple tips and tricks that make real estate investing easier, faster, and better. Brett’s Insight of the Week.
Brett: For today’s Insight of the Week, we are going to talk about something that really hits home with me and that is in this business, you have so many different shiny objects thrown at you. Tonight, we are going to a local REIA event and they have twelve round tables and we are heading up the wholesaling round table. But the guests there at the REIA, they all get to travel around at each table and each table has their own topic or own strategy. You got a wholesaling table, you got a note table, you got a fixing and flipping table, cash flow table, probably staging or maybe short term rental table. All of these different table, that is only five but there is twelve, I do not know the rest. But there is a lot of different things and exit strategies that you can do.
What I see happen so many times and I have done this so many times is when things start to get hard and you have challenges come at you, instead of figuring out how to get around the obstacle or maybe was something that we could do a little bit different to help whatever we are doing now better, we change our strategy completely. I did this. I was wholesaling houses. Started back in 2008. For the first three or four years, I was successfully wholesaling 80 to 100 houses a year and we are doing really well but we were buying all off the MLS. When that started to get hard, when the inventory started to go down, we decided to change our strategy completely to fixing and flipping houses.
I remember my dad and I were putting in kitchen cabinets and we were sanding floors and painting and mom was there and we were doing all these different things and I was really entranced in this fixing and flipping business. Took our eyes completely off of wholesaling which is the only reason why we were successful in the first place and we changed our model completely and it came back to bite us because we did not know how to do it very well. I did not ever study on how to manage contractors or flip houses or hire the right people or to pay them and to not pay them enough money until the job was complete and all that. I did it for three years, took my eyes completely off of wholesaling and realize this is really hard, it is very challenging.
It is just not my gift, it is not my niche. That is when a few years ago I got back in the wholesaling, created the company Simple Wholesaling, built and scale the team and here is where we are today. But the one thing that I did differently is I told my team. I said, ‘We are going to wholesale. We are not going to fix and flip, we are not going to buy and hold rentals, we are not going to do all these different strategies and we are not going to take our eyes off the wholesaling. Does it have challenges? Yes, we come with challenges all the time. It is becoming competitive. Everybody is starting to do DirectMail.
There is more and more wholesalers right now in the real estate industry than I have ever seen with the whole ten or eleven years I have been in this business. But we are keeping our eyes focused, we are keeping just laser focused down the road and we are not going to venture. Would it be easy to say, ‘Hey, you know what guys? This is getting harder, maybe we should start flipping again.’ We are not going to do that. We are going to find a way around, we are going to do more niche lists, we are going to find different strategies to bring in leads, we are going to partner with wholesalers.
We are going to keep doing the same things that we have been doing and stick to the system. Sometimes we got to change little things here and there but we are going to keep doing that because this is what has got us here. I want to tell you guys out today, maybe it is not wholesaling maybe, maybe it is fixing and flipping, maybe you like taking something ugly and turning it into pretty like I am getting ready to give Brian a makeover and I am just kidding.
Brian: I need one.
Brett: I was just joking. But maybe that is your niche, maybe it is a passive income cash flow? People ask me all the time, why don’t you do more passive income strategies? Because I like wholesaling and we are just laser focus. Take whatever you do well, take your gift and just be an expert at it. Be a professional, figure how to do it to the best of your ability and crush it down the road. I think it is going to help you guys out so much further than all of these different things when the times gets tough for you.
Do you dream of a life that is purpose-driven and makes a difference? Spiritual Foundation.Spiritual Foundation.
Brian: Yes. Just going off of what Brett said for Insight of the Week. Our Spiritual Foundations just really kind of feeds right off of that. Actually, our guest today, Brian Trippe, may be the reason I picked the Spiritual Foundation because he made me think of this as well. But it comes from Colossians 3:24, ‘Whatever you do, work at it with all your heart as working for the Lord, not for human masters.’ I was just thinking about this and Brian later on will talk about work ethic. He was even talking about how it was not until he was 30 years old that he kind of understood what work ethic was and what he wanted to do.
Actually, Brett and I just had a conversation about that with me the other day. I was teaching for fourteen years and I understood how to do that and it kind of came easy for me because I was in a routine, I knew what to do and everything. Then having this transition, it was really easy for me at the start because I was learning new stuff and I was doing all these new things. It was it easy for me to push and be able to put my heart into it because I wanted to learn the business and be the best. Now, when I am in the sales role, it has kind of changed a little bit to where I could do anything and everything, all the stuff for an entire week, all that I can do and maybe no sales come from it. There might be other weeks where I could just kind of man I had a tough week or kind of does do the bare minimum, kind of skate by a little bit, I might get like the most deals ever.
Granted now Brett is my boss and telling you I do not really have weeks like that where I do much but it is just kind of you can never really predict what is going to be coming with stuff like that but it all comes down to put your heart into it and do everything that you can and you never know what is going to come from it. Things I am doing this week might not have an effect this week but might have an effect next month or down the year or a year from now or whatever it may be. I think I just comes back to make sure whatever you are doing that you can put your heart into it.
If your heart is not into it, if you do not have any interest with it, is it worth doing? I know sometimes we have all been there, we have to do things just to maybe get the paycheck to be able to do what you want to do next but just kind of strive for your best of what you want to be doing. Actually, you mentioned before too how Brian is going to touch on his wife that is not happy with her job and will call him crying and things like that. They had to talk together as a couple of like hey what does this look like for us? Can we do this wholesaling business and be able to provide for our family without her job and stuff.
It is kind of one of those things of understanding what you are actually working towards, working for and everything. I think it is really easy when you are able to set your sights on the Lord and be able to allow him to guide you that how much easier things come. When I am working for myself, when I am working for the reputation of what people think about me, when I am just trying to please everybody, that is when I am probably the least happy. When I am just kind of giving things up to the Lord, doing things what is right for him, doing things what is right for my marriage that is when it becomes easy. It becomes easy to put my heart into it and it just becomes natural. I think just with this interview that we had today with Brian Trippe, that really touches on that and I just want to kind of speak to that a little bit.
Brett: Yes. Thanks, Brian. What Brian, both the Brians, Brian Trippe and Brian Snider obviously talks about. One of the biggest things at work ethic for me was, my dad was a basketball coach as I have talked about many times on the show, and I was a really hard worker on the basketball court. I remember just hanging out my driveway, making sure I hit ten free throws in a row before I came in and mom will come out. She would be like, ‘Hey, Brett. Come on inside for supper.’ I would say, ‘No, I got to hit ten free throws in a row. I am not going to come in until I do.’ Sometimes I get like eight in a row and I missed that ninth one and I would not come in so I would stay out there for hours.
It really taught me a great work ethic because I wanted to achieve, I wanted to be successful, and that transitioned into the business world. Now, I am very self-motivated. I can get up and I do not have to have a boss to tell me what to do. I can get right to it. I have amazing work ethic and I believe that the people on our team have really amazing work ethic that they will after hours, they will put in more time if because I know if they stick to the system, the results will be there. Where you guys at, you have to have that great work ethic. You have to be self-motivated to be a successful entrepreneur. You have to get up early, you have to have a plan. You have to just stick to the system, put your heart into it, and the results will take care of themselves. But it all starts with that work ethic.
Brett: We have been talking about him a lot and we are interviewing a very successful real estate entrepreneur, Brian Trippe. Brian is from Alabama. He just started only a couple years ago, not even a couple of years. One of the leading REIAs in the nation. One of his goals is to have the largest REIA in the nation. It is called AlaREIA. He teamed up with a lot of the big shots or big investors in his local market and they collaborated to help really build this REIA that not only can experienced investors come to and learn, but the new investors can come too and learn as well.
He came from a division one basketball coaching career making $6000 a year and turned that into that is where he learned his work ethic like we talked about. Then he made that first wholesale deal which made him $10000 and then the light bulb went off and said, ‘I do not know what we just did but I want to do it more.’ Then he started making $50000 a month, not even a year, just a couple of months later after he started his wholesaling business, $50000 a month. Him and a partner were doing and then now he coaches students wholesaling, he leads AlaREIA. His wife called him crying and she was a pharmacist and she wanted to quit her job and she has been able to leave that and be home with their young children.
He was just an amazing guy. He talks about his family, he talks about his business and he is even getting into passive income now which was his whole goal in all of this and he has bought a mobile home park and he is going to dive into that. Let us get into the interview with the amazing Brian Trippe. What is going on, Brian? How are you doing today?
Brian T: What is going on guys? I just want to say before you started, I am so honored to be here. I listen your podcast, I am a big fan of you guys, and it is an honor to be actually on your show. Looking forward to it.
Brian: Thank you very much. We are excited to have you. Thanks for being on today and stuff. Let us go ahead and just jump into it. Why don’t you ho ahead and give us a little bit of your background, where you came from and how you got into real estate investing?
Brian T: Yes, absolutely. I will try to keep this as short as possible. I used to be a division one college basketball coach and made $6000, that is right, one two three four five six.
Brian T: Coaching basketball.
Brett: Krzyzewski, didn’t he make like a couple million? You were not that kind?
Brian T: What was the deal? He makes more than a couple, he has a lot of money, just as a low level D1 coach kind of the lowest. I was the video coordinator in a place we call LA which is Lower Alabama, Troy University. Did not make a whole lot of money. I ended up doing some junior college work and was teaching English as well teaching, teaching adjunct English professor. Got my start in real estate by going to a Rich Dad education seminar and I left a three day seminar, 45 days later completed a transaction where I made $10000 on my first wholesale deal and forever changed my outlook on money, my outlook on finances, my belief in could this real estate thing even work?
From then on, I pretty much kind of said goodbye to basketball which I love to this day. I am from Indiana where you guys are so I am a huge basketball guy. It is just I recently got married at the time and it was just a time where I had to kind of put that dream aside and start really make some money and support the family. That is how I kind of got into real estate and then from there it just it was a lot of hustle, it was a lot of hard work, it was not easy. The process of wholesaling is very simple but just to keep it going because it was a very transactional business. It is not easy to build a business. Just get money is a lot, learned a lot through the process, and here I am almost six years later still going strong.
Brett: That is awesome. Well, you really hit my heart when you started talking about basketball. I know this is a real estate podcast but from Indiana, my dad was a high school basketball coach, I played basketball and I went to a small college here in Indiana called Huntington and I played ball in college too. Hit my heart there.
Brian T: There you go.
Brett: What year was that? You were coaching basketball and you did this one real estate transaction? Give us a time frame.
Brian T: Yes, that was almost six years ago to the day. It would have been the summer of 2012 when I went to that seminar and 45 days later, we closed on October 12 2012. I got the $10000 check. If you know anything about college basketball, practice typically starts in the middle of October, October 15th. I had to leave to go down to Troy, which is about a two hour drive from Birmingham which is where I am today, and I would pretty much stay down there a little bit but I pretty much would commute back and forth. College basketball, especially the D1 level is very intense. There is a lot to it if you are a video coordinator, I get accused you are not a coach, you are a video coordinator.
Brett: You are like the water boy.
Brian T: If you knew what a video coordinator did you might actually rethink that statement. But I did every single scattering report, I did the video scattering sport and the written scouting reports. Individual player breakdowns. I did not coach on the court because in college basketball you get a head coach and three assistants that can coach on the court, only four total. There is usually a director of basketball ops and I was the video coordinator and I could not coach on the court but I can coach in the film room. I would get calls at ten or eleven or twelve o’clock at night, sometimes even one or two, ‘Hey, coach. Come open the gym or I want to look at some film.’ I get these calls in the middle of the night and that is what I did full time. This is where I really learned work ethic.
I was the kid, just to let you know, I went back to school to get my master’s degree so I was kind of a glorified graduate assistant at UAB, which is the University of Alabama at Birmingham, then I went on to Troy. I am 30 years old at this point, 31 or 32 years old at this point, when most people in this position are 22 or 23 or 24. I will say about to say, before I went back to school to get my master’s degree in education, I was the 30 year old, I was the 29 year old, living in my dad’s basement playing video games until four o’clock in the morning. I did not know work ethic. I did not understand what it was and I thought my life was always going to be get up, go to work, on weekends I can kind of play around and goof off and blow all my money.
I had no accountability. I kind of grew up in a single parent household so I did not really have that kind of structure. I never really had a father figure. When I got mixed in in basketball, especially at 30 years old, that is when I really and truly learned work ethic. I had coaches that I considered to be father figures that really taught me how to be a man, taught me how to provide for my family and stuff like that because I did not have that. That is kind of, just to sum all that up is some of my story. Got out of basketball because I found this amazing thing called real estate. Like I said, to this day I love basketball, it is just when you can make that kind of money in real estates, it is kind of an easy decision.
Brett: Yes. You can always coach if you have kids. I have coached my daughter and living with a coach, you always have that coaching mentality but you can also gear it towards coaching real estate investors, right? I know that is a little bit what you do, Brian. You kind of taken that same coaching-teaching leadership qualities and turned it into coaching maybe not in the basketball court but real estate investors. Just real quick. I just want to kind of dive in. We have a lot of similarities, Brian. One of the parts of my story was my dad was a high school teacher.
He taught wood shop and he taught health and PE and he was the high school basketball coach for 25 years. He retired so he could come watch me play in college but one thing that really resonated with me growing up is I always remember my dad’s pay day because that was just a glorious day for our family. We usually got to go out to eat or do something different that day because my dad had money and just always remember that. I remember at one point I was in my 20’s and my dad said that he never remembered a time where he had more than $5000 in his bank account and this was after 30 years of teaching and coaching and that really resonated with me and I never wanted to live that life of paycheck to paycheck where pay day was glorious. I wanted to live every day that was like payday, right?
Brett: That is why I got into this. But really just diving back into your story. You got into the real estate in 2012, started getting in the wholesaling. Kind of take us forward a little bit, how many deals were you doing and bring us up to today? What are you guys doing now and all that.
Brian T: Sure. Yes, I appreciate you sharing your story, that is great. I do apologize, my office is like a quarter mile from a fire station so apparently there is like a massive fire somewhere close. I do not like you to hear that.
Brett: But please not one of your houses.
Brian T: Yes, taking this for insurance, right?
Brett: Yes. Or maybe I wish it was one of your houses, I do not know.
Brian T: Maybe that is in the area, you are right. Yes, wholesaling, when I first got started I did not want to wholesale. I wanted to be a real estate investor. I never grew up with anything, I never owned anything. I thought it would be great and cool to own property and I wanted to own property. I did not want to be a wholesaler. Even though I made $10000 in that first deal, I tried to parlay that money into getting into like some little real estate deals to build up some cash record to do bigger real estate deals.
I kind of fiddle around with that and I was still coaching by the way. I went full time the summer of 2013 and I fiddled around. I bought a six unit and it was in a terrible part of town. Even though it was a little bit of a mistake that I bought it, I ended up basically breaking even after about a year having it but it was an incredible learning experience. I learned so much by fixing up each unit and getting it rented out. I learned Landlord Tenant Act, I learned a lot of things with real estate but what was very clear to me when in the spring of 2014, I decided to actually start a wholesaling company because I realized I do not have any more cash to invest, I do not have any more money to invest.
I need more money, where can I get money? What is the quickest way to get cash? For me, I am like remember that $10000 wholesale I did, I know I can do that again and I did. I went out and just kind of killed myself basically just to be able to do more deals and I hired a friend to come along and I paid him per deal that we closed so it is kind of help me do acquisitions. Kind of help me hang banner signs and do some little things like that. We ended up doing about $50000 wholesale in about a month and a half and it just really kind of changed my trajectory. I was like you know what, I can really ramp this up and do a lot of wholesale.
From about the summer of 2014 through the end of 2015, about a year and a half there, we were a pretty big business in town doing a lot of wholesaling. What changed, a couple of things at the end of 2015, my administrative assistant at the time who was running kind of like an office manager, completely running the office part of it, went to have a baby. Darn her, you know.
Brett: Congrats to her now.
Brian T: Yes, exactly.
Brett: No, I was just kidding.
Brian T: I bought a 59 space mobile home park in December 2015 and I bought the office that I was renting. I bought that strip mall that we were in. What it did, Brett, is it would completely took off the wholesaling ball. We went from spending $15000 to $20000 a month in marketing to not doing a single deal in November, December, and then January 2016. That is when I decided to scale the wholesaling business back because I kind of accomplished what I was in the business to do which was get cash so I could go buy property and actually invest and be a real estate investor. That mobile home park was that was actually the catalyst to get my wife…
The whole reason I started this in the in the first place because my wife hated her job. I was down at Troy and I get this phone call from my wife that says, and she calls me crying her eyes out, she is a pharmacist making $125000 a year and she calls me saying I want to quit my job. I am like maybe.
Brett: Maybe in five years.
Brian T: Yes. You know I am making $6000 per year, right? For the six or seven months I am doing this, you know I am making $6000. I convinced her to stick it out for a bit longer and that was really the reason why I wanted to start trying to build the wholesale thing, the real estate thing. The mobile home park, getting back to the story, was actually the catalyst that was able to allow my wife to quit her job and replace her income. I still do wholesale to this day. Right now, you know you mentioned I have a coaching program, I do want to mention this. You talked about a second ago like my passion.
I think we all need to figure out what our passion is. Why we exist, why we are here, that kind of thing of your why? However you want to phrase that, I think we all need to figure that out. For me, from the very beginning, as far as back as I can remember, it has always been in my blood to teach and to coach. Like is just a natural ability that I have been given. Obviously, hone those skills. Just because you have a skill does not mean you do not have to like hone them and get better. I have definitely gotten better with these skills. I never thought that I was ever going to be the greatest real estate investor in the world but that is a skill I have developed and I am good at it, I am okay at it, I am better at teaching and explaining to people how to invest. For me, the whole thing clicked.
The whole life purpose thing, the why thing all clicked for me when I was able to marry something I could make money at and something I had a natural ability to do and love which was the teaching and coaching and actually marry those two things and that is what I do today. I have a journalism degree too so we have our own podcast, we do a lot of media as well, so I am like marrying all these things that I have natural ability at with something I can make money at. The real estate is just a means to an end if you ask that is all about.
Brian: Yes, definitely. I mean it is an amazing story. Thank you for tracking us through that, that is great. But I want to go back to real quick when you are talking about the work ethic that you kind of learned as you were the video coordinator. You also touched on how wholesaling is a tough business to continually do over and over because it is so transactional. Can you kind of talk a little bit of how? What are some of those things of that work ethic that you learned and you are able to translate over into wholesaling? How are you able to kind of keep that business going just because a lot of our listeners here are new to wholesaling. They are getting going and they got to realize like it is not easy all the time. The first couple deals, you get that check coming in, everything is looking really good and all of a sudden how do I keep doing this? How am I going to be able to just transition this over and over again?
Brian T: I think hustle and work ethic, it gets talked about a lot and it kind of gets glorified in the society that we are in. I think everybody wants to say they are an entrepreneur. It is kind of the cool thing to be or to say that you are. Go look at people’s Instagram accounts and just look at their title, it says their name right underneath it, I am an entrepreneur. I am CEO. You know what? That is cool and that is awesome but what I have learned with entrepreneurship is it is, just kind of steal a line from a guy I really love and admire and follow, a guy named Gary Vaynerchuk.
If you are a CEO, if you are an entrepreneur, your job description every single day is to eat crap. You get to eat garbage every single day of your life. You are putting out fires every day and if you do not want to do that, if you do not have that in you then you are probably not going to be successful. Tying that back into work ethic, that is an all day job. That is an all day job. I am putting out fires left and right. Like every day I have a decision to make and that decision, whatever decision I do make, whichever way I decide to go is going to affect not only my life and my income but the people who work for me. It is going to affect their life and their income.
If you cannot actually like put that into your mind, that you are not only responsible for you and your family but you are responsible for other people and their family. Like then entrepreneurship may not be for you. It sounds cool if you are the solopreneur and you do not have anyone else to kind of be accountable to, just yourself. But for me, that is what gets me up every day, that is why I have the work ethic because there are more people that I have to support than just my immediate family.
Brett: Yes, definitely love that. I think you are right. Everybody wants that buzzword to be an entrepreneur. I had a relation, my cousin called me the other day and he wants to pick my brain about being self-employed and I think people have… People that are not self-employed have the wrong idea of what it is like to be self-employed because a lot of times you trade in a nine to five for a twenty four seven and the lie that people think is you just can work whenever you want, right? I think you got to get around that and not everybody is meant to be an entrepreneur. They cannot handle the risk, they cannot handle the fires, the challenge, the big decisions that they have to make to affect other people’s lives.
Sometimes it is okay that you do not have to be the bat man. You can be the Robin and help be a support to an entrepreneur and I think people have to realize their gifts and what they are good at but thank you again, Brian, for sharing that. But the question I want to ask is you were working a wholesale business with a partner for a long time, sounds like you guys are doing really well, doing $50000 in a month, I mean that is pretty amazing numbers there. Then you bought the mobile home park and you decided to scale back the wholesaling business which it sounds like you do some now with students and I think you have a program and you can talk about that a little bit as well.
But do you think that it was a mistake to step back because I am in mastermind group with other real estate investors and we are all talking about how to get bigger, how to scale more? If you are doing $10000 a month, they want to do $20000. If you do not want $20000, they want to do $40000 and they just keep going. Talk about that a little bit. You mentioned your purpose, your why, you kind of achieved your purpose and your goal and your wife quitting her job. But if you had to do it again, would you still scale it down and do what you are doing or talk to us about that? You think it was a mistake to leave that?
Brian: Yes. First of all, I want to kind of make it clear that I did not feel like to, when we scaled down, I did not really do that by choice. I kind of did that out of necessity because like I said the office manager that was setting our appointments that we did not have to do anything except go on appointments and write contracts. I mean that is all we are doing and the houses are selling themselves and sounds like we had to like have like a sales team. It was all about acquisitions and that is kind of the key today. I mean this is 2015 or 2016, we are in a hot market today. It is pretty easy to sell a good deal, right? It is pretty easy to give someone equity. The hard part is to try to find the deal. When she left, that was the beginning.
Again, this is my fault. As a business owner, as an entrepreneur, not putting the systems in place to where if one person leaves one cog and the wheel leaves, the whole thing does not crumble. Well, that is what happened, the whole thing crumbled. We scaled back out of necessity. Now, I will say this, we took all that revenue to go and buy passive income. That is my business model, it was my business model from the very beginning. From when we decided to do a lot of wholesaling, the wholesaling was a means to an end. Not to say that we cannot wholesale stuff from time to time.
Wholesaling is fine, rehabbing is fine, but the name of the game for me is passive income. If I cannot get more and more rentals and continue to build my rental portfolio, to continue to build, have that money, I do not want to call it really residual but kind of have that consistent money come in every single month and build that and build that. If I cannot have that then my wife never could have quit her job because as you know, as you guys know, wholesaling is so transactional. It is a rollercoaster. Every month is not going to be the same. One month you might do fifty and that is a great month, but one month you might do ten. When your expenses are fifteen, that is no good right?
Brett: Right. That is a loss, I was just writing that down.
Brian T: Right. It was out of necessity that we did that but it really led me to where I am today, being able to manage that park and having the park and then having all my other rentals that continue to grow as well. We would not be in a position to do what we want to do without that. Now look, the quick hitters, we still rehab properties, we still wholesale, but those things are like bonus. We treat those as a bonus, we treat those as kind of fuel where we can reinvest back in the business. You either grows an aspect of it, maybe make a higher, whatever it is. Those are just extra and added bonus.
Brett: Definitely love that.
Brian: Yes. Let us get into a little bit just kind of what you are doing with this coaching and teaching? I know that you started the Alabama REIA, the AlaREIA, down there a couple years ago, you want to just talk about what you are doing down there as far as just kind of being involved with educating people?
Brian T: Yes. First, thank you guys for giving me that opportunity. I think that our city had a real need for something like this. I do not know, I do not sit and go around the country and go to other REIAs so I do not really know how it is throughout the country but in our city in particular, there was a REIA that had been here for a very long time and it was almost more like a landlord association if you kind of know what I mean. A lot of older guys in there that had a bunch of low end rentals and that is what they mainly talk about. They would bring in outside selling speakers this whole different aspects of creative real estate which is fine.
I had a separate vision and my vision was I want to create an environment A where all of the top real estate investors in our town would want to go to. Like I want all the biggest and baddest guys in our city. I want them to be able to come and get something out of it and I want a brand new person to be able to come and get something out of it. To put it back in kind of the education terms, it would be like teaching kindergarten and 12th grade at the same time. But that is what I wanted, that is what I wanted to accomplish. The first thing I did, for anyone listening to this who may feel like they are a little bit of a bigger fish in their in their city, I think that anyone can do something like this.
We partnered with people, and I said partner in a sense of just create an alliance, with people in our city who just were doing really big things. Obviously, we were but we partner with a few other people and created these alliance. Hey, you know what? We are going to start this thing and I want you guys to be a part of it. I want you guys to actually come and be recognizable and hopefully it is going to benefit us all, it is going to benefit you guys because hopefully you are going to be able to do more deals and us as well but we want to actually grow this thing.
We launched it like that. We kind of sent it out to everyone’s different lists and we launched it. There was seventy five people at the launch which is January 2017. We have grown it. We have over 580 members about a year and a we are regularly getting over 200 people. We bring in great speakers from all throughout the country. I do not know when this is going to come out but the next speaker that we are going to have here is Tom Croll who is a wholesaling kind of genius that I think he is and he is coming here. We have had people like Joe McCall come, we have had people like Sean McCloskey come to Birmingham, Alabama where you just would not think why in the heck would anyone go to Birmingham? But we do not sell anything, we do not sell like you mentioned coaching.
We do a three day kind of a boot camp, whatever you want to call it like a workshop every quarter and I will talk about my coaching. I kind sow my coaching out of that but we do not sell anything at the REIA really. I mix up membership which is $50 bucks for a year which is dirt cheap. Then they come to a workshop if you want to learn a little bit more. It is all about trying to provide value. Like you guys with your podcast, you are providing value to a large amount of listeners who follow you guys every single week. I am just trying to provide value and the biggest way we are able to do that is we collaborated, instead of competed, we collaborated with a lot of other investors that are here doing big things and got them involved to where they felt like they had a purpose and a reason to actually come.
Brett: I think that it is great. I think the problem… In Indianapolis, there is a couple of REIAs. We host our own meet up so if you guys are an Indi, it is called the Simple Wholesaling meet up. It is basically about wholesaling. I think some of the problems is the REIAs do not join. They do not support and encourage each other. I think it is awesome what you are doing. You get involved with some of the other local real estate investors and you are just trying to go listen together. You are really trying to help each other and that is great what you guys are doing and amazing.
Brian T: Thank you.
Brett: Let us talk about your coaching program a little bit. I know that you coach some students. What does that exactly look like? What do you teach them and what is some things that you can teach that beginner student? How do you get them started and what services do you guys provide? Do you just provide advice, do you provide marketing or what does that all look like?
Brian T: Yes, we talked about this offline for a second. It is kind of funny that you kind of put it in those words. I do not really call it a program. I went through a program. I went through Rich Dad education and I am not going to sit here and talk bad about anything but the one thing they were missing badly was the local aspect and that is huge. If anyone listening in this, they are interested in getting into real estate, I cannot stress enough how important it is to have a mentor who is local and knows your market. Yes or the things that can kind of translate from market to market of course but there is nothing like having that God boots on the ground.
We go on appointments with our coaching students and we negotiate deals right in front of them. They have access to our buyer’s list, they have access to our network. If someone would join us, like I think information is out there everywhere. We do a three day workshop where we give them all the information. We do not hide any information from people. It is kind of surprising to some people who do sign up and want to be mentored. They are like where are all the other classes and where are all the other material? Like I gave you everything. I have nothing more to teach. I have taught you everything you need to know but you do not I am mentorship for information. Information is on YouTube, information is everywhere.
Everyone has their own spin on it. You buy mentorship and coaching for two reasons. You buy it for access to my network, access to someone’s network, and you buy it for speed of implementation. Like how quickly do you want to be successful. You can plug right into our marketing that we are doing. We require people to put a certain amount of money into our marketing where we give you out leads. Kind of like a round robin system, kind of like how a home investors would do it, if you guys are familiar with the process. We do it like that and we kind of deviate per area as well.
Right now, like most people’s core focus is wholesaling, I am most comfortable teaching that because we have had the most success with that. I have some other people who are associated with our program, associate with our infrastructure I should say, that does more fix and flip. We put people who want to just slip right away. We put them with them. If you want to buy and hold rentals right off the bat, we are ready to do that. Birmingham is a strong cash flowing market, kind of similar to how Indianapolis is. Very strong cash flowing market here so we can invest right here in our own backyard and get strong ROI. That is kind of that we teach.
Our business model is what we teach, it is what I did. It is either flip and or a wholesale and build a pile of money to go out and buy passive income. I do not think there is a better business plan in real estate than that. Can you be successful doing nothing but fix and flips for the rest your life, of course you can. Can you build a huge wholesaling business? Of course you can, you can do all those things. But I think it is the rare person that can do nothing but that. I think you have to have a place to put your money to grow it and you can lend, I think lending is a fine thing to do especially in a hot market like we are in today but I just do not think there is anything better than buying passive income especially if you get it for sixty and seventy cents on the dollar.
Brett: Awesome. I think one of the nuggets that I really want to hit again, if you listen right now, is finding a mentor and a local mentor. I think that that is very crucial. There is a lot of programs out there and someone would talk to you on the phone and they might give you some good advice. Have they ever done a deal or not? I do not really know, most probably not but find someone locally that can help. If you have a deal on the table, they can help you look at it, analyze it, talk to the seller with you, that is huge and I think that is an amazing thing. If you are listening all over the nation, all over the world, just really looking at your local REIA, trying to find that local mentor that you connect with. I think it is such a huge thing in this business. Thanks for sha ring that, Brian.
Brian: Agree. Brian Snider and I are going to go into the section of the show that we like to call Going Deep.
Brian: Going Deep.
Brett: In this section, Brian Trippe, we are going to just talk to you about some life questions. Let me ask you a quick question, you mentioned you are married and do you have children?
Brian T: We have a three year old girl and a one year old boy, yes.
Brett: Cool. Awesome, congratulations. With that, I know as entrepreneurs we get labeled sometimes. Just with so many different things running through our mind, we are always going after success in the workplace and sometimes we forget to be successful dads or husbands. With that said, how have you found to try to do both because obviously you are very successful entrepreneur and talk to us about your family? Have you implemented anything in your family and just try to also be successful there and just really being with them in the moment?
Brian T: I think is a great question. I may have a different spin on this. First of all, I would say for anyone out there, I think that is a very very personal question and I do not think that any one person can tell another person what that answer should be. I think you, anyone listening, needs to figure out what that looks like for you and your family and have those discussions. Communications is obviously key.
My wife have had those talks, we have had those discussions and this is a very very difficult thing to balance. You always hear that, work life balance. How much work is too much? Are you spending enough time with your children, with your wife and things like that? I think those are huge huge questions and the answer is you need to have people in your corner. Before we ever started this thing, my wife and I are having continual dialogue on what does this look like. Right now, what it looks like and probably for the next year or two, what it looks like is I am going to continue to work [inaudible][48:48].
There is so much that I want to accomplish, there is so much more that I want to grow. I think I am on the record for saying this so I might as well keep saying it, there is no sense in holding back the more I say it, maybe it will actually become true but I have aspirations to grow the largest REIA in the entire country. That is a huge aspiration but it takes a lot of work to do that. I am all into my business for the next year and a half to two years to see how much, especially while we are in this very hot market that we are in, how much more can we accomplish? In my home at night, I am at home every single night unless I am travelling.
I am at home every single night to kiss my babies before they go to bed and hopefully get to spend an hour or two with them. Ten this morning, last night I got in really late where I did not get to see until this morning. I did not have this until almost Central time and I did not have to do this until 11 and I purposely made this my first appointment this morning so I did not leave my house until 10 o’clock. That left me three full hours to spend with my family. I have got to find those little times and carve those times out and then my wife and I we go to a lot of concerts together. I love going to concerts and sporting events and we will go to fifty plus a year and we do stuff like that so we can get away from the kids and do some things on our own.
When I go to shows, I want to way up front so obviously ticket prices keep getting like higher and higher. She is like, ‘Brian, you are you are spending all this money on all these shows and we have season tickets to our Amphitheater here and all that stuff.’ She is like I wanted, when Taylor Swift comes, I want to sit way up front. I do not want to sit in the back again.
Brian: Come on, Brian. Do not lie, we know that is you. The one that is right there in front with Taylor Swift.
Brian T: Oh my gosh. Most recently, she is coming to Nashville at the end of the summer and so that was her anniversary gift. Taylor Swift tickets, second row, you do not want to know how much on these tickets to sit at the second row to sit on the second row with a bunch of screaming teenagers for some Taylor Swift. But that is what we do. That is us and that is our family. Do not do what we do, do what is right for you and for your family. Have those conversations.
Brian: I think that is so great that. I mean this is a great point. I am just having that open dialogue with whether it is your wife, your kids or just your family, whoever that may be that person that are is your corner that is kind of holding you accountable for that so it is so important. I want to get back to a little bit of kind of you… Sounds like you have been very purposeful about your why. We know what your why is and seems like you have always known what your why is since you have been in this business. Has that why changed for you at all? Maybe since you have had kids or whatever that maybe?
Brian T: Totally I think goal setting and kind of like vision nearing a vision setting those things are moving targets right? I mean the whole reason I got into real estate was I wanted my wife to quit her job and we were placed a huge income, a pharmacist salary, so that could not be the end, right? I mean I am not done, I am not checking out. Our goals change, our why’s change and our vision changes. Having kids, your whys definitely change. Just to be completely honest, the question I fear the most is for someone to ask me the question why do you want to build the biggest REIA in the country? Because I do not have an answer for that and I do not have a clear cut why when it comes to that kind of stuff but what I do know that I was put on this earth to impact other people and that is why I love what you guys are doing.
I love the platform that you have and the influence that you have because you are not only using… You are not only taking what you are good at, a skill that you are good at, but your taking that o impact other people’s lives forever. I am talking about things the way that you talked about them. That is why I love your show and I got turned on to it when some friends of mine were on it and I love listening to your show. It is a little goofy but that is what makes it great.
Brian T: You talked about being in your pajamas.
Brett: Who are you calling goofy?
Brian T: You need to some video in your pajamas doing this show. I think it would be great.
Brian: That might be one of the reasons why we do not video as much anymore just because half the time I just be me looking at Brett like what are you talking about? What are you doing?
Brett: That is true, we should get back to doing the video because actually I got a huge wardrobe of goofy wigs and outfits for videos and we are going to try to implement but awesome man. Hey, thank you so much for opening up about your family there. I think it is awesome. What is your favorite concert that you guys go to? I do not know, you have gone to so many probably but what has been one of the good ones?
Brian T: That is hard. I grew up listening to country music so there is probably a big portion of your audience who just rolled their eyes but for me Garth Brooks came here for three days. Cam to Birmingham for three shows and I went to all three.
Brian: That is awesome.
Brett: That is cool.
Brian T: That was kind of the highlight for me.
Brett: I used to listen to Garth Brooks. I do not know, those are some high school days man, that is awesome.
Brian T: I just think that having fun like that and getting away and escaping and I am a big believer in like event, like doing things. I do not want to spend money on stuff. I want to spend money on experiences. I recently was fortunate enough, me and my three year old girl, just us, went over to Atlanta. It is about a two hour drive from us in Birmingham. I am a big Cubs fan, I am from the Chicago land area. We went over to see the Cubs play and we sat on the front row right behind the Cubs dugout. Guess how many balls they threw her? Four. She got four baseballs. I have caught one foul ball my entire life and I have probably been to a 200 or 300 Cubs games. I have got one foul call, she caught four balls.
Brian T: That is the trick by the way. If you ever want to catch a ball at a baseball game, take a cute girl with you. Does not have to be your girl, just take a girl with you and you will get all the baseballs you could ever want.
Brian: We are not endorsing kidnapping.
Brian: But yes, find a kid if you are in a ball game.
Brett: You probably stole her baseballs and put them in your office?
Brian T: They are.
Brett: So cool man.
Brian T: She wants to play with them. The problem is they are hard and she wants to throw them in the house so we put them up and she can see them and she comes up to me all the time and because I would say I cannot believe you caught four balls and she would come up to me and say, ‘I cannot believe I caught four baseballs all the time.
Brett: That is so funny. Kids are cute.
Touch of Randomness
It is time for a touch of randomness.
Brett: We are going to ask you a few random questions, Brian, to wrap up today’s episode. Number one, what historical figure would you like to see in the 21st century life?
Brian T: I have no idea how to answer some of these questions. I think I would be scared to death of Jesus if I saw him, which is going to happen one day, hopefully. I would be scared to death to see that. I do not know how to answer these questions man. I got an English degree, a literature degree, maybe seeing like a Charles Dickens, maybe seeing somebody like that, one of my literature heroes.
Brian T: Might be interesting. That is tough.
Brett: Just name the first thing that comes into your mind, do not think about so much.
Brian: I got one for you then we will see how you answer this. I know you are a big Cubs fan, if you had to trade one of the Cub starters for another player in MLB, they play the same position, who would that be? Who would you trade and who would you want back?
Brian T: Oh my gosh. I mean our starting pitching right now, the bottom are starting pitching is pretty tough so right now I would love to trade you Darvish even though he signed to do a huge deal in the offseason. He is on the deal right now as of this recording. Man, just we have been crushed by Kershaw, in years past with the Dodgers. It would be cool to have like a Kershaw, maybe a Bumgarner from San Francisco. We have been crushed by those guys. Maybe even Scherzer or one of the Washington Nationals pitchers, something like that, because we have gotten crushed by those guys.
Brian: You just say if Yu Darvish breaks down again the playoffs this year is really what you are saying?
Brian T: Well, I would love to see him do anything in the regular season.
Brian: Yes, that is true.
Brian T: Again, as of this recording, I was going to come out but we are like three and a half games out right now.
Brett: Awesome. Last question, picture you and your family are having a backyard barbecue and you can invite any musician to come play at your backyard barbecue. Who would that be?
Brian T: Wow. My all-time favorite, I think the greatest songwriter of my generation is Chris Caraba, the lead singer of Dashboard Confessional. Having Chris, I have met him numerous times, having Chris Caraba at the backyard barbecue would be pretty surreal for me.
Brett: That would be cool. Maybe you will make that happen one day. Brian, thank you for joining us on the show today. We appreciate you so much man. This was an awesome episode, just getting to know you and we wish you so much success with your business and your family and trying to have the largest REIA in the country, that would be absolutely amazing. Thanks for talking about your coaching program. If one of our listeners wants to reach out to you, interested in anything that you have to offer, where is the best place for them to find you?
Brian T: Thank you for this opportunity. Brett, if you do not mind, I would love to give your audience a… Can we give them a free gift? Can we give them a free book?
Brett: Yes, definitely.
Brian T: I just wrote a book, it came out about a month ago. I would love if you guys want a free copy of this. I have no up sales but you do have to help me with some shipping. It is very reasonable, I have no up sells on there. It is called Nothings For Sale. It is really the story about how I was able to build what I have been able to build and how you might be able to do that too. How you can become the local authority in your market.
I talked earlier about possibly starting a meet up or something like that. How to collaborate with people already in your market that talks a lot about that. If you want a free copy, you can go to the website nothingsforsale.com. You can reach out to me if you want to email me, info@alaREIA.com is the best way. It is alaREIA. It is info@alaREIA.com. Thank you guys so much for having me, Brett and Brian. I appreciate this so much and I wish you guys nothing but success as well.
Brett: Yes, definitely. If you guys are interested in that information, getting that book, checking out the website nothingsforsale.com, go to our website at simplewholesaling.com/episode115. This is the wrap, the interview with Brian Trippe. Thank you so much, Brian. Have a great day, man.
Brian T: Thanks guys. See you soon.
Thank you for listening to Simple Wholesaling. If you enjoyed today’s show, please head over to iTunes, give us a rating and leave a review. Be sure to pick up a copy of our free e-book, This Simple Wholesaling System, by joining our community over at www.SimpleWholesaling.com/OurDashSystem.