{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":0.009,"endTime":1.42,"body":"Hey,"},{"speaker":"Average Joe Finances","startTime":0.009,"endTime":1.42,"body":"welcome back to the Average Joe"},{"speaker":"Average Joe Finances","startTime":1.42,"endTime":2.86,"body":"Finances Podcast, everybody."},{"speaker":"Average Joe Finances","startTime":2.86,"endTime":6.8,"body":"I'm your host, Mike Cavaggioni"},{"speaker":"Average Joe Finances","startTime":2.86,"endTime":6.8,"body":"and today's  guest is David Dodge."},{"speaker":"Average Joe Finances","startTime":6.981,"endTime":8.241,"body":"Super excited to have him on here."},{"speaker":"Average Joe Finances","startTime":8.246,"endTime":11.841,"body":"He's gonna share his story about what"},{"speaker":"Average Joe Finances","startTime":8.246,"endTime":11.841,"body":"he does as a real estate investor."},{"speaker":"Average Joe Finances","startTime":11.841,"endTime":13.581,"body":"So David, welcome to the show."},{"speaker":"David Dodge","startTime":13.611,"endTime":16.041,"body":"Hey Mike,"},{"speaker":"David Dodge","startTime":13.611,"endTime":16.041,"body":"thanks for having me, buddy."},{"speaker":"David Dodge","startTime":16.041,"endTime":16.581,"body":"Much appreciated."},{"speaker":"Average Joe Finances","startTime":16.941,"endTime":17.751,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":17.751,"endTime":21.441,"body":"Hey, I wanna start this off the same"},{"speaker":"Average Joe Finances","startTime":17.751,"endTime":21.441,"body":"way I start every episode, and that"},{"speaker":"Average Joe Finances","startTime":21.441,"endTime":23.391,"body":"is, we wanna know more about you."},{"speaker":"Average Joe Finances","startTime":23.391,"endTime":25.431,"body":"So if you could, share your story."},{"speaker":"Average Joe Finances","startTime":25.431,"endTime":28.375,"body":"Yeah you can go into as much detail as"},{"speaker":"Average Joe Finances","startTime":25.431,"endTime":28.375,"body":"you want but we wanna know about you"},{"speaker":"Average Joe Finances","startTime":28.375,"endTime":29.995,"body":"and how you got started in real estate."},{"speaker":"David Dodge","startTime":30.045,"endTime":31.005,"body":"Yeah, you got it, Mike."},{"speaker":"David Dodge","startTime":31.005,"endTime":31.845,"body":"Thanks for having me, man."},{"speaker":"David Dodge","startTime":31.845,"endTime":40.125,"body":"So I am 37 years old and I started"},{"speaker":"David Dodge","startTime":31.845,"endTime":40.125,"body":"investing in real estate at the age of 20."},{"speaker":"David Dodge","startTime":40.635,"endTime":43.245,"body":"So I've been at this for"},{"speaker":"David Dodge","startTime":40.635,"endTime":43.245,"body":"almost 18 years at this point."},{"speaker":"David Dodge","startTime":43.464,"endTime":48.513,"body":"And for the most part, I had a"},{"speaker":"David Dodge","startTime":43.464,"endTime":48.513,"body":"professor in college that had a course."},{"speaker":"David Dodge","startTime":48.513,"endTime":50.413,"body":"It was a finance 101."},{"speaker":"David Dodge","startTime":50.443,"endTime":54.253,"body":"I was a personal financial planning"},{"speaker":"David Dodge","startTime":50.443,"endTime":54.253,"body":"type of a degree when I went to college."},{"speaker":"David Dodge","startTime":54.823,"endTime":57.763,"body":"So I had to take a bunch of basic"},{"speaker":"David Dodge","startTime":54.823,"endTime":57.763,"body":"finance classes and one of my, one"},{"speaker":"David Dodge","startTime":57.768,"endTime":62.097,"body":"of my finance 1 0 1 classes, I had"},{"speaker":"David Dodge","startTime":57.768,"endTime":62.097,"body":"this professor and he gave us all"},{"speaker":"David Dodge","startTime":62.097,"endTime":63.597,"body":"Rich Dad Port Ed, first day of."},{"speaker":"David Dodge","startTime":64.782,"endTime":67.812,"body":"And the class was basically"},{"speaker":"David Dodge","startTime":64.782,"endTime":67.812,"body":"based on Rich Dad, Poor Dad."},{"speaker":"David Dodge","startTime":67.812,"endTime":68.922,"body":"It was so cool."},{"speaker":"David Dodge","startTime":68.952,"endTime":69.502,"body":"It was amazing."},{"speaker":"David Dodge","startTime":69.502,"endTime":72.462,"body":"At the age, this is, I was"},{"speaker":"David Dodge","startTime":69.502,"endTime":72.462,"body":"probably 19 or 20 at the time."},{"speaker":"David Dodge","startTime":73.062,"endTime":74.052,"body":"I think I might have been 19."},{"speaker":"David Dodge","startTime":74.532,"endTime":77.662,"body":"But anyway, we learned about"},{"speaker":"David Dodge","startTime":74.532,"endTime":77.662,"body":"passive income and all the things"},{"speaker":"David Dodge","startTime":77.662,"endTime":81.352,"body":"that Rich Dad Poor Dad teaches,"},{"speaker":"David Dodge","startTime":77.662,"endTime":81.352,"body":"and I was hooked ever since then."},{"speaker":"David Dodge","startTime":81.802,"endTime":85.341,"body":"So at the age of 20, which, maybe"},{"speaker":"David Dodge","startTime":81.802,"endTime":85.341,"body":"that year, maybe the year after, I"},{"speaker":"David Dodge","startTime":85.341,"endTime":89.886,"body":"decided to buy my first property and"},{"speaker":"David Dodge","startTime":85.341,"endTime":89.886,"body":"I did a relatively simple strategy."},{"speaker":"David Dodge","startTime":90.561,"endTime":92.451,"body":"That a lot of people do when"},{"speaker":"David Dodge","startTime":90.561,"endTime":92.451,"body":"they're starting out, and"},{"speaker":"David Dodge","startTime":92.451,"endTime":93.411,"body":"it's called house hacking."},{"speaker":"David Dodge","startTime":93.471,"endTime":95.361,"body":"So I bought a house, it"},{"speaker":"David Dodge","startTime":93.471,"endTime":95.361,"body":"was a four bedroom house."},{"speaker":"David Dodge","startTime":95.361,"endTime":97.611,"body":"I rented out three of the other"},{"speaker":"David Dodge","startTime":95.361,"endTime":97.611,"body":"rooms to some of my buddies"},{"speaker":"David Dodge","startTime":97.616,"endTime":98.631,"body":"when we were in college."},{"speaker":"David Dodge","startTime":98.675,"endTime":100.65,"body":"And basically lived for free, Mike."},{"speaker":"David Dodge","startTime":100.65,"endTime":106.253,"body":"It was, it was nice and easy, but"},{"speaker":"David Dodge","startTime":100.65,"endTime":106.253,"body":"I had to borrow $30,000 from my"},{"speaker":"David Dodge","startTime":106.253,"endTime":108.261,"body":"family to get into the deal, right?"},{"speaker":"David Dodge","startTime":108.651,"endTime":113.616,"body":"I paid full retail, got an agent, went to"},{"speaker":"David Dodge","startTime":108.651,"endTime":113.616,"body":"the MLS, got a property under contract,"},{"speaker":"David Dodge","startTime":113.616,"endTime":116.946,"body":"went to the bank and the bank said,"},{"speaker":"David Dodge","startTime":113.616,"endTime":116.946,"body":"Hey, we're gonna give you an 80% loan."},{"speaker":"David Dodge","startTime":117.426,"endTime":119.166,"body":"It's $150,000 property."},{"speaker":"David Dodge","startTime":119.166,"endTime":120.186,"body":"So I needed 30 grand."},{"speaker":"David Dodge","startTime":120.186,"endTime":123.666,"body":"So I borrowed that money from my"},{"speaker":"David Dodge","startTime":120.186,"endTime":123.666,"body":"family and then I paid that money back"},{"speaker":"David Dodge","startTime":123.666,"endTime":127.164,"body":"over, a year or two of just working"},{"speaker":"David Dodge","startTime":123.666,"endTime":127.164,"body":"part-time jobs in college and some"},{"speaker":"David Dodge","startTime":127.164,"endTime":131.034,"body":"full-time jobs over the summer and"},{"speaker":"David Dodge","startTime":127.164,"endTime":131.034,"body":"having a lawn care business and just"},{"speaker":"David Dodge","startTime":131.034,"endTime":132.594,"body":"random little entrepreneural things."},{"speaker":"David Dodge","startTime":133.314,"endTime":136.404,"body":"Long story short, not to bore"},{"speaker":"David Dodge","startTime":133.314,"endTime":136.404,"body":"everybody is over the next"},{"speaker":"David Dodge","startTime":136.404,"endTime":139.074,"body":"10 years, I had various jobs."},{"speaker":"David Dodge","startTime":139.524,"endTime":143.448,"body":"I had various entrepreneurial,"},{"speaker":"David Dodge","startTime":139.524,"endTime":143.448,"body":"businesses where I would sell products"},{"speaker":"David Dodge","startTime":143.448,"endTime":148.019,"body":"online or build websites for people or"},{"speaker":"David Dodge","startTime":143.448,"endTime":148.019,"body":"just do random things and I would use"},{"speaker":"David Dodge","startTime":148.019,"endTime":149.729,"body":"real estate as a place to park money."},{"speaker":"David Dodge","startTime":149.729,"endTime":152.699,"body":"I've never really been that"},{"speaker":"David Dodge","startTime":149.729,"endTime":152.699,"body":"great at saving money, but I've"},{"speaker":"David Dodge","startTime":152.699,"endTime":154.059,"body":"been really good at paying debt."},{"speaker":"David Dodge","startTime":154.479,"endTime":155.019,"body":"Really good."},{"speaker":"David Dodge","startTime":155.083,"endTime":157.783,"body":"So what I would do is I would keep"},{"speaker":"David Dodge","startTime":155.083,"endTime":157.783,"body":"borrowing money or I would save"},{"speaker":"David Dodge","startTime":157.783,"endTime":161.599,"body":"money and I would do like I did"},{"speaker":"David Dodge","startTime":157.783,"endTime":161.599,"body":"and I did the house hacking three"},{"speaker":"David Dodge","startTime":161.629,"endTime":163.052,"body":"thing three times, I was in college."},{"speaker":"David Dodge","startTime":163.322,"endTime":167.666,"body":"And then the next seven years, I had"},{"speaker":"David Dodge","startTime":163.322,"endTime":167.666,"body":"different businesses, I had different"},{"speaker":"David Dodge","startTime":167.713,"endTime":172.243,"body":"jobs, but I continued to buy essentially"},{"speaker":"David Dodge","startTime":167.713,"endTime":172.243,"body":"a house year and in fact, at the end of"},{"speaker":"David Dodge","startTime":172.243,"endTime":174.943,"body":"that 10 year period, I had 12 houses."},{"speaker":"David Dodge","startTime":174.989,"endTime":176.399,"body":"Now I didn't have these houses paid off."},{"speaker":"David Dodge","startTime":176.404,"endTime":178.019,"body":"I had 80% loans on all of them."},{"speaker":"David Dodge","startTime":178.019,"endTime":181.133,"body":"I either had to save 30 grand rough"},{"speaker":"David Dodge","startTime":178.019,"endTime":181.133,"body":"or I had to borrow it and pay it"},{"speaker":"David Dodge","startTime":181.133,"endTime":182.483,"body":"back over a year or two's time."},{"speaker":"David Dodge","startTime":183.263,"endTime":185.723,"body":"So as you can see, this"},{"speaker":"David Dodge","startTime":183.263,"endTime":185.723,"body":"is a very slow strategy."},{"speaker":"David Dodge","startTime":185.735,"endTime":187.914,"body":"It's a very, unscalable strategy."},{"speaker":"David Dodge","startTime":187.914,"endTime":191.386,"body":"It requires you to save 30 grand or"},{"speaker":"David Dodge","startTime":187.914,"endTime":191.386,"body":"have access to it, then go use that"},{"speaker":"David Dodge","startTime":191.391,"endTime":195.166,"body":"as your down payment to get a loan"},{"speaker":"David Dodge","startTime":191.391,"endTime":195.166,"body":"and I was written these properties"},{"speaker":"David Dodge","startTime":195.166,"endTime":199.154,"body":"out of self-manage them, managing"},{"speaker":"David Dodge","startTime":195.166,"endTime":199.154,"body":"them for the first seven to 10 years."},{"speaker":"David Dodge","startTime":199.239,"endTime":203.079,"body":"And then Mike, I decided I wanted"},{"speaker":"David Dodge","startTime":199.239,"endTime":203.079,"body":"to go full time into real estate and"},{"speaker":"David Dodge","startTime":203.079,"endTime":206.329,"body":"I didn't want to be an agent or a"},{"speaker":"David Dodge","startTime":203.079,"endTime":206.329,"body":"broker cuz I didn't want to deal with"},{"speaker":"David Dodge","startTime":206.338,"endTime":208.158,"body":"showing people houses and whatnot."},{"speaker":"David Dodge","startTime":208.246,"endTime":210.466,"body":"I'm actually part owner"},{"speaker":"David Dodge","startTime":208.246,"endTime":210.466,"body":"of a brokerage now."},{"speaker":"David Dodge","startTime":210.526,"endTime":213.196,"body":"I'm not an agent or a broker still"},{"speaker":"David Dodge","startTime":210.526,"endTime":213.196,"body":"to this day, but my business partner"},{"speaker":"David Dodge","startTime":213.196,"endTime":214.806,"body":"is, and I own half the brokerage."},{"speaker":"David Dodge","startTime":214.806,"endTime":217.267,"body":"But at the time, and I went full"},{"speaker":"David Dodge","startTime":214.806,"endTime":217.267,"body":"time, I didn't want to do any of that."},{"speaker":"David Dodge","startTime":217.272,"endTime":220.147,"body":"I wanted to just be an investor and"},{"speaker":"David Dodge","startTime":217.272,"endTime":220.147,"body":"in fact, I would go to REITE Clubs."},{"speaker":"David Dodge","startTime":220.792,"endTime":223.492,"body":"And I would meet people at"},{"speaker":"David Dodge","startTime":220.792,"endTime":223.492,"body":"these REITE Clubs that had the"},{"speaker":"David Dodge","startTime":223.492,"endTime":225.472,"body":"a hundred houses, 150 houses."},{"speaker":"David Dodge","startTime":225.952,"endTime":228.072,"body":"I think I met a guy in the"},{"speaker":"David Dodge","startTime":225.952,"endTime":228.072,"body":"first six months of, wanting"},{"speaker":"David Dodge","startTime":228.077,"endTime":229.302,"body":"to be a full-time investor."},{"speaker":"David Dodge","startTime":229.302,"endTime":233.215,"body":"So this is about seven, eight"},{"speaker":"David Dodge","startTime":229.302,"endTime":233.215,"body":"years ago, and he had 400 houses."},{"speaker":"David Dodge","startTime":233.215,"endTime":237.425,"body":"And I'm thinking, man, it"},{"speaker":"David Dodge","startTime":233.215,"endTime":237.425,"body":"took me 10 years to get to 12."},{"speaker":"David Dodge","startTime":237.495,"endTime":242.265,"body":"It's gonna take me 10"},{"speaker":"David Dodge","startTime":237.495,"endTime":242.265,"body":"lifetimes, 20 lifetimes, 50"},{"speaker":"David Dodge","startTime":242.265,"endTime":245.94,"body":"lifetime to get to 400 houses."},{"speaker":"David Dodge","startTime":246.0,"endTime":248.25,"body":"How are these people doing this right?"},{"speaker":"David Dodge","startTime":248.91,"endTime":251.28,"body":"What are, what does this"},{"speaker":"David Dodge","startTime":248.91,"endTime":251.28,"body":"guy know that I don't know?"},{"speaker":"David Dodge","startTime":251.28,"endTime":257.363,"body":"And I literally sold the random businesses"},{"speaker":"David Dodge","startTime":251.28,"endTime":257.363,"body":"that I was running, quit any random jobs"},{"speaker":"David Dodge","startTime":257.363,"endTime":262.436,"body":"that I had, and I dove in and I read"},{"speaker":"David Dodge","startTime":257.363,"endTime":262.436,"body":"a bunch of books, listened to podcasts"},{"speaker":"David Dodge","startTime":262.436,"endTime":266.456,"body":"like this, very one we're listening"},{"speaker":"David Dodge","startTime":262.436,"endTime":266.456,"body":"to or today, and talking on today, and"},{"speaker":"David Dodge","startTime":266.596,"endTime":272.411,"body":"immerse myself in how to do real estate"},{"speaker":"David Dodge","startTime":266.596,"endTime":272.411,"body":"with little to no money, how to do"},{"speaker":"David Dodge","startTime":272.411,"endTime":274.811,"body":"real estate with little to no credit."},{"speaker":"David Dodge","startTime":274.885,"endTime":279.905,"body":"And I stumbled across wholesaling and"},{"speaker":"David Dodge","startTime":274.885,"endTime":279.905,"body":"I learned that the first 12 houses"},{"speaker":"David Dodge","startTime":279.905,"endTime":283.505,"body":"that I had bought over that 10 year"},{"speaker":"David Dodge","startTime":279.905,"endTime":283.505,"body":"period I had paid full retail for."},{"speaker":"David Dodge","startTime":283.51,"endTime":287.195,"body":"I knew that at the time, but I"},{"speaker":"David Dodge","startTime":283.51,"endTime":287.195,"body":"didn't really know much about"},{"speaker":"David Dodge","startTime":287.195,"endTime":290.875,"body":"motivated sellers and how to find"},{"speaker":"David Dodge","startTime":287.195,"endTime":290.875,"body":"deals and that they even existed."},{"speaker":"David Dodge","startTime":291.815,"endTime":296.889,"body":"And again, I immersed myself in creative"},{"speaker":"David Dodge","startTime":291.815,"endTime":296.889,"body":"financing and wholesaling and I struggled"},{"speaker":"David Dodge","startTime":296.889,"endTime":298.809,"body":"for about three and a half months."},{"speaker":"David Dodge","startTime":298.899,"endTime":302.786,"body":"And then I hired a coach and within"},{"speaker":"David Dodge","startTime":298.899,"endTime":302.786,"body":"two or three weeks I got a deal and I"},{"speaker":"David Dodge","startTime":302.786,"endTime":306.508,"body":"made I don't know, I wasn't much, maybe"},{"speaker":"David Dodge","startTime":302.786,"endTime":306.508,"body":"seven or eight grand on that deal."},{"speaker":"David Dodge","startTime":306.807,"endTime":309.957,"body":"But then a week or two later, I got"},{"speaker":"David Dodge","startTime":306.807,"endTime":309.957,"body":"another deal and I made 12 grand on it,"},{"speaker":"David Dodge","startTime":310.047,"endTime":313.497,"body":"and then a week or two later I got another"},{"speaker":"David Dodge","startTime":310.047,"endTime":313.497,"body":"deal and I made like 10 or 11 grand on"},{"speaker":"David Dodge","startTime":313.497,"endTime":319.277,"body":"it and I basically made 30,000 bucks"},{"speaker":"David Dodge","startTime":313.497,"endTime":319.277,"body":"over the course of, maybe three months."},{"speaker":"David Dodge","startTime":319.787,"endTime":322.517,"body":"Now this is post three months"},{"speaker":"David Dodge","startTime":319.787,"endTime":322.517,"body":"of struggle with no money."},{"speaker":"David Dodge","startTime":322.624,"endTime":326.404,"body":"Hired a coach within three months, I had"},{"speaker":"David Dodge","startTime":322.624,"endTime":326.404,"body":"done three or four deals in May, 30 grand."},{"speaker":"David Dodge","startTime":326.404,"endTime":329.254,"body":"So the whole process took"},{"speaker":"David Dodge","startTime":326.404,"endTime":329.254,"body":"me six and a half months."},{"speaker":"David Dodge","startTime":329.339,"endTime":332.249,"body":"And I really wish, this is gonna be"},{"speaker":"David Dodge","startTime":329.339,"endTime":332.249,"body":"probably one of your questions at"},{"speaker":"David Dodge","startTime":332.249,"endTime":333.659,"body":"the end, but I'm gonna say it now."},{"speaker":"David Dodge","startTime":333.659,"endTime":334.409,"body":"I'm say it then too."},{"speaker":"David Dodge","startTime":334.679,"endTime":337.079,"body":"I really wish I hired a coach day one."},{"speaker":"David Dodge","startTime":337.146,"endTime":339.766,"body":"Cause it would've saved me that"},{"speaker":"David Dodge","startTime":337.146,"endTime":339.766,"body":"three and a half months of struggle."},{"speaker":"David Dodge","startTime":339.766,"endTime":342.944,"body":"But regardless, that's how I got"},{"speaker":"David Dodge","startTime":339.766,"endTime":342.944,"body":"my footing in real estate and"},{"speaker":"David Dodge","startTime":342.944,"endTime":347.094,"body":"how I  went from being a passive"},{"speaker":"David Dodge","startTime":342.944,"endTime":347.094,"body":"investor to an active investor."},{"speaker":"David Dodge","startTime":347.694,"endTime":349.464,"body":"When I went full time,"},{"speaker":"David Dodge","startTime":347.694,"endTime":349.464,"body":"I went into wholesale."},{"speaker":"David Dodge","startTime":349.544,"endTime":353.752,"body":"So did that for about three"},{"speaker":"David Dodge","startTime":349.544,"endTime":353.752,"body":"years exclusively, Mike."},{"speaker":"David Dodge","startTime":353.802,"endTime":355.812,"body":"I didn't really do much"},{"speaker":"David Dodge","startTime":353.802,"endTime":355.812,"body":"fix and flips back then."},{"speaker":"David Dodge","startTime":356.292,"endTime":360.253,"body":"I was a wholesaler for three years"},{"speaker":"David Dodge","startTime":356.292,"endTime":360.253,"body":"and I still wholesale to this day."},{"speaker":"David Dodge","startTime":360.323,"endTime":361.553,"body":"We just did one last week."},{"speaker":"David Dodge","startTime":361.64,"endTime":364.34,"body":"We usually do a couple a month at"},{"speaker":"David Dodge","startTime":361.64,"endTime":364.34,"body":"this point, but the wholesale deals"},{"speaker":"David Dodge","startTime":364.345,"endTime":367.1,"body":"I do now, I'm not looking for them."},{"speaker":"David Dodge","startTime":367.76,"endTime":372.65,"body":"They're deals that don't meet our"},{"speaker":"David Dodge","startTime":367.76,"endTime":372.65,"body":"buy box from our marketing efforts."},{"speaker":"David Dodge","startTime":373.37,"endTime":376.19,"body":"We keep the best, we wholesale the rest."},{"speaker":"David Dodge","startTime":377.285,"endTime":378.545,"body":"That makes for a great title."},{"speaker":"David Dodge","startTime":379.505,"endTime":382.355,"body":"Keep the best, Wholesale the rest, right?"},{"speaker":"Average Joe Finances","startTime":382.375,"endTime":383.892,"body":"That might"},{"speaker":"Average Joe Finances","startTime":382.375,"endTime":383.892,"body":"just be the title of this episode."},{"speaker":"David Dodge","startTime":383.892,"endTime":385.362,"body":"That might"},{"speaker":"David Dodge","startTime":383.892,"endTime":385.362,"body":"just be the title, man."},{"speaker":"David Dodge","startTime":385.422,"endTime":387.882,"body":"And I encourage everybody to use that."},{"speaker":"David Dodge","startTime":387.998,"endTime":389.448,"body":"Take it, steal it, run with it."},{"speaker":"David Dodge","startTime":389.467,"endTime":391.417,"body":"I didn't create that"},{"speaker":"David Dodge","startTime":389.467,"endTime":391.417,"body":"saying someone else did."},{"speaker":"David Dodge","startTime":391.417,"endTime":395.527,"body":"I heard it at an investment club"},{"speaker":"David Dodge","startTime":391.417,"endTime":395.527,"body":"seven years ago, but that's what I do."},{"speaker":"David Dodge","startTime":395.527,"endTime":396.577,"body":"I live by this, right?"},{"speaker":"David Dodge","startTime":396.577,"endTime":398.437,"body":"So I keep the best that"},{"speaker":"David Dodge","startTime":396.577,"endTime":398.437,"body":"I wholesale the rest."},{"speaker":"David Dodge","startTime":398.437,"endTime":399.217,"body":"So I still do that."},{"speaker":"David Dodge","startTime":399.217,"endTime":403.547,"body":"But for three years, Mike, I did that"},{"speaker":"David Dodge","startTime":399.217,"endTime":403.547,"body":"exclusively and then, I woke up one day"},{"speaker":"David Dodge","startTime":403.547,"endTime":406.787,"body":"and I think it was my wife was giving"},{"speaker":"David Dodge","startTime":403.547,"endTime":406.787,"body":"me trouble about not making enough"},{"speaker":"David Dodge","startTime":406.937,"endTime":410.627,"body":"money or something, and I'm like, Man,"},{"speaker":"David Dodge","startTime":406.937,"endTime":410.627,"body":"I got into real estate at the age of 20."},{"speaker":"David Dodge","startTime":412.847,"endTime":414.077,"body":"This is five years ago, right?"},{"speaker":"David Dodge","startTime":414.077,"endTime":415.037,"body":"That I had this epiphany."},{"speaker":"David Dodge","startTime":415.065,"endTime":419.093,"body":"I got into real estate at the age of 20"},{"speaker":"David Dodge","startTime":415.065,"endTime":419.093,"body":"and I had gotten some rental properties"},{"speaker":"David Dodge","startTime":419.093,"endTime":422.963,"body":"and I was making some passive income"},{"speaker":"David Dodge","startTime":419.093,"endTime":422.963,"body":"at the time, like 12 properties times"},{"speaker":"David Dodge","startTime":422.963,"endTime":424.943,"body":"that by maybe 300 bucks a month."},{"speaker":"David Dodge","startTime":425.005,"endTime":429.185,"body":"I was making just a little less than 4,000"},{"speaker":"David Dodge","startTime":425.005,"endTime":429.185,"body":"a month, my expenses were seven or eight."},{"speaker":"David Dodge","startTime":429.224,"endTime":432.538,"body":"And yeah, long story short, I had this"},{"speaker":"David Dodge","startTime":429.224,"endTime":432.538,"body":"epiphany and I'm like, Man, the whole"},{"speaker":"David Dodge","startTime":432.538,"endTime":434.458,"body":"Stanley has a full time job is hard."},{"speaker":"David Dodge","startTime":434.998,"endTime":436.438,"body":"It's the transaction treadmill."},{"speaker":"David Dodge","startTime":436.438,"endTime":440.518,"body":"As soon as you do a deal and you get"},{"speaker":"David Dodge","startTime":436.438,"endTime":440.518,"body":"paid, you're starting over and you need"},{"speaker":"David Dodge","startTime":440.518,"endTime":444.688,"body":"to reinvest anywhere from 10 to 50% of"},{"speaker":"David Dodge","startTime":440.518,"endTime":444.688,"body":"those profits back into the business."},{"speaker":"David Dodge","startTime":445.348,"endTime":448.564,"body":"Not a bad thing, but it's"},{"speaker":"David Dodge","startTime":445.348,"endTime":448.564,"body":"not making me wealthy."},{"speaker":"David Dodge","startTime":449.554,"endTime":453.184,"body":"So I took the skills that I had"},{"speaker":"David Dodge","startTime":449.554,"endTime":453.184,"body":"learned over those three years of"},{"speaker":"David Dodge","startTime":453.189,"endTime":457.909,"body":"exclusively wholesaling properties,"},{"speaker":"David Dodge","startTime":453.189,"endTime":457.909,"body":"marketing direct to seller, running"},{"speaker":"David Dodge","startTime":457.909,"endTime":462.289,"body":"appointments, negotiating, making"},{"speaker":"David Dodge","startTime":457.909,"endTime":462.289,"body":"friends, building confidence."},{"speaker":"David Dodge","startTime":462.769,"endTime":466.189,"body":"And I coupled that with the previous"},{"speaker":"David Dodge","startTime":462.769,"endTime":466.189,"body":"10 years of experience I had buying"},{"speaker":"David Dodge","startTime":466.194,"endTime":472.099,"body":"rentals and now I had all these tools"},{"speaker":"David Dodge","startTime":466.194,"endTime":472.099,"body":"in my belt to really rocket fuel,"},{"speaker":"David Dodge","startTime":472.134,"endTime":474.094,"body":"rocket fuel on my business essentially."},{"speaker":"David Dodge","startTime":474.994,"endTime":478.474,"body":"So I decided, hey, let's keep this"},{"speaker":"David Dodge","startTime":474.994,"endTime":478.474,"body":"marketing going cuz this is how"},{"speaker":"David Dodge","startTime":478.474,"endTime":480.124,"body":"we're getting discounted deals."},{"speaker":"David Dodge","startTime":480.634,"endTime":484.854,"body":"But instead of wholesaling, 100% of"},{"speaker":"David Dodge","startTime":480.634,"endTime":484.854,"body":"them, let's start keeping the best deals"},{"speaker":"David Dodge","startTime":484.854,"endTime":489.864,"body":"and fix and flip those deals or adding"},{"speaker":"David Dodge","startTime":484.854,"endTime":489.864,"body":"those deals to our portfolio of rentals."},{"speaker":"David Dodge","startTime":489.904,"endTime":491.884,"body":"And that's when I stumbled"},{"speaker":"David Dodge","startTime":489.904,"endTime":491.884,"body":"across the BRRRR method."},{"speaker":"David Dodge","startTime":492.364,"endTime":496.603,"body":"And of course I did creative financing"},{"speaker":"David Dodge","startTime":492.364,"endTime":496.603,"body":"then subject to and owner financing."},{"speaker":"David Dodge","startTime":496.603,"endTime":498.392,"body":"And I still to this day do those things."},{"speaker":"David Dodge","startTime":498.421,"endTime":501.121,"body":"And as the interest rates go, I'm"},{"speaker":"David Dodge","startTime":498.421,"endTime":501.121,"body":"gonna be doing more of those things."},{"speaker":"David Dodge","startTime":501.751,"endTime":504.121,"body":"But I stumbled across the BRRRR method."},{"speaker":"David Dodge","startTime":504.121,"endTime":507.478,"body":"And the BRRRR method is nothing more"},{"speaker":"David Dodge","startTime":504.121,"endTime":507.478,"body":"than an acronym, B with four Rs."},{"speaker":"David Dodge","startTime":507.478,"endTime":512.068,"body":"It's a simple strategy that real estate"},{"speaker":"David Dodge","startTime":507.478,"endTime":512.068,"body":"investors can use and my definition of the"},{"speaker":"David Dodge","startTime":512.068,"endTime":517.689,"body":"BRRRR method Michael is it's a strategy"},{"speaker":"David Dodge","startTime":512.068,"endTime":517.689,"body":"that real estate investors use to acquire"},{"speaker":"David Dodge","startTime":517.779,"endTime":521.523,"body":"assets with little to no money, rapidly."},{"speaker":"David Dodge","startTime":521.926,"endTime":523.066,"body":"That's my definition."},{"speaker":"David Dodge","startTime":523.066,"endTime":527.266,"body":"I've done 200 BRRRR deals, by the way,"},{"speaker":"David Dodge","startTime":523.066,"endTime":527.266,"body":"I've written a book on the BRRRR method."},{"speaker":"David Dodge","startTime":527.266,"endTime":528.316,"body":"It's on Amazon."},{"speaker":"David Dodge","startTime":528.366,"endTime":530.016,"body":"It's 378 pages."},{"speaker":"David Dodge","startTime":530.436,"endTime":533.016,"body":"There's a few other people that have"},{"speaker":"David Dodge","startTime":530.436,"endTime":533.016,"body":"written books on the BRRRR method,"},{"speaker":"David Dodge","startTime":533.376,"endTime":535.926,"body":"and I often get asked the question,"},{"speaker":"David Dodge","startTime":533.376,"endTime":535.926,"body":"How does yours compare to theirs?"},{"speaker":"David Dodge","startTime":536.286,"endTime":536.736,"body":"I don't know."},{"speaker":"David Dodge","startTime":536.736,"endTime":537.756,"body":"I've never read theirs."},{"speaker":"David Dodge","startTime":538.116,"endTime":540.336,"body":"Mine's based on experience from 200 deals."},{"speaker":"Average Joe Finances","startTime":540.389,"endTime":540.689,"body":"Awesome."},{"speaker":"David Dodge","startTime":540.694,"endTime":545.399,"body":"So I started cherry picking"},{"speaker":"David Dodge","startTime":540.694,"endTime":545.399,"body":"these deals, Mike, and in the beginning"},{"speaker":"David Dodge","startTime":545.399,"endTime":548.609,"body":"when I was doing the BRRRR method, I was"},{"speaker":"David Dodge","startTime":545.399,"endTime":548.609,"body":"leaving 10 or 15 grand in a property."},{"speaker":"David Dodge","startTime":548.609,"endTime":552.899,"body":"But to me that was a home run cause"},{"speaker":"David Dodge","startTime":548.609,"endTime":552.899,"body":"it's way better than 30,000, the average"},{"speaker":"David Dodge","startTime":552.899,"endTime":557.264,"body":"price point when I started was about"},{"speaker":"David Dodge","startTime":552.899,"endTime":557.264,"body":"one 50, and oddly enough, it's maybe 180"},{"speaker":"David Dodge","startTime":557.264,"endTime":562.244,"body":"to one 90 now, so it hasn't moved that"},{"speaker":"David Dodge","startTime":557.264,"endTime":562.244,"body":"much and 20% down, 30 plus thousand."},{"speaker":"David Dodge","startTime":562.244,"endTime":564.657,"body":"If you can do it for"},{"speaker":"David Dodge","startTime":562.244,"endTime":564.657,"body":"10 or 15, that's great."},{"speaker":"David Dodge","startTime":564.675,"endTime":572.325,"body":"Over time I refined my skill and now I"},{"speaker":"David Dodge","startTime":564.675,"endTime":572.325,"body":"average $1,200 out of pocket, which means"},{"speaker":"David Dodge","startTime":572.805,"endTime":576.732,"body":"after three or four months of cash flow,"},{"speaker":"David Dodge","startTime":572.805,"endTime":576.732,"body":"I don't have any money in that deal and"},{"speaker":"David Dodge","startTime":576.732,"endTime":578.382,"body":"it's infinite returns at that point."},{"speaker":"David Dodge","startTime":578.952,"endTime":579.706,"body":"So it's really cool."},{"speaker":"David Dodge","startTime":580.186,"endTime":581.476,"body":"So the rest is history."},{"speaker":"David Dodge","startTime":581.476,"endTime":582.166,"body":"Thanks for listening."},{"speaker":"David Dodge","startTime":582.171,"endTime":583.396,"body":"Hopefully I didn't bore anybody."},{"speaker":"David Dodge","startTime":583.816,"endTime":585.196,"body":"I've been in the game 18 years."},{"speaker":"David Dodge","startTime":585.196,"endTime":589.826,"body":"I've been fulltime for eight, done about"},{"speaker":"David Dodge","startTime":585.196,"endTime":589.826,"body":"a thousand transactions in my life."},{"speaker":"David Dodge","startTime":589.855,"endTime":594.625,"body":"Over the last eight years, I've"},{"speaker":"David Dodge","startTime":589.855,"endTime":594.625,"body":"done 700 plus wholesale deals, 200"},{"speaker":"David Dodge","startTime":594.625,"endTime":599.226,"body":"plus BRRRR deals and my passion is"},{"speaker":"David Dodge","startTime":594.625,"endTime":599.226,"body":"building my portfolio of rentals."},{"speaker":"David Dodge","startTime":599.226,"endTime":602.256,"body":"I own 65 houses right now."},{"speaker":"David Dodge","startTime":602.256,"endTime":604.896,"body":"I own another 30 plus"},{"speaker":"David Dodge","startTime":602.256,"endTime":604.896,"body":"units in in apartments."},{"speaker":"David Dodge","startTime":604.941,"endTime":608.426,"body":"I have 13, 14, 15 units"},{"speaker":"David Dodge","startTime":604.941,"endTime":608.426,"body":"on our contract right now."},{"speaker":"David Dodge","startTime":608.426,"endTime":610.783,"body":"Love fixing and flipping,"},{"speaker":"David Dodge","startTime":608.426,"endTime":610.783,"body":"usually do anywhere from one"},{"speaker":"David Dodge","startTime":610.783,"endTime":612.553,"body":"to three to time on the side."},{"speaker":"David Dodge","startTime":612.973,"endTime":615.037,"body":"It's more of a hobby for"},{"speaker":"David Dodge","startTime":612.973,"endTime":615.037,"body":"me than it is a business."},{"speaker":"David Dodge","startTime":615.457,"endTime":616.447,"body":"Of course, I make money though."},{"speaker":"David Dodge","startTime":616.524,"endTime":618.324,"body":"And I love teaching and"},{"speaker":"David Dodge","startTime":616.524,"endTime":618.324,"body":"coaching at this point."},{"speaker":"David Dodge","startTime":618.383,"endTime":621.263,"body":"My portfolio brings in over"},{"speaker":"David Dodge","startTime":618.383,"endTime":621.263,"body":"20,000 a month passively."},{"speaker":"David Dodge","startTime":621.383,"endTime":624.275,"body":"I'm gonna continue to grow that but"},{"speaker":"David Dodge","startTime":621.383,"endTime":624.275,"body":"at this point I just love to help"},{"speaker":"David Dodge","startTime":624.365,"endTime":628.745,"body":"people learn how awesome real estate"},{"speaker":"David Dodge","startTime":624.365,"endTime":628.745,"body":"is and how investing doesn't have to be"},{"speaker":"David Dodge","startTime":628.745,"endTime":630.245,"body":"complicated, doesn't have to be hard."},{"speaker":"David Dodge","startTime":630.665,"endTime":635.134,"body":"In fact, it's very simple if you're"},{"speaker":"David Dodge","startTime":630.665,"endTime":635.134,"body":"consistent and you a couple things."},{"speaker":"David Dodge","startTime":635.155,"endTime":638.39,"body":"Lesson number one guys, real estate"},{"speaker":"David Dodge","startTime":635.155,"endTime":638.39,"body":"investing starts with marketing."},{"speaker":"David Dodge","startTime":638.42,"endTime":641.24,"body":"So really what that means is that"},{"speaker":"David Dodge","startTime":638.42,"endTime":641.24,"body":"we're in a marketing business"},{"speaker":"David Dodge","startTime":641.24,"endTime":642.8,"body":"before we're in any other business."},{"speaker":"David Dodge","startTime":642.877,"endTime":647.035,"body":"And then, yeah, we can invest and take"},{"speaker":"David Dodge","startTime":642.877,"endTime":647.035,"body":"risk and fix and flip and add rentals"},{"speaker":"David Dodge","startTime":647.035,"endTime":650.335,"body":"and do these things, but we can't find"},{"speaker":"David Dodge","startTime":647.035,"endTime":650.335,"body":"these things on the MLS typically."},{"speaker":"David Dodge","startTime":650.395,"endTime":651.695,"body":"Typically, maybe a few."},{"speaker":"David Dodge","startTime":651.725,"endTime":655.115,"body":"I buy about a hundred houses a year,"},{"speaker":"David Dodge","startTime":651.725,"endTime":655.115,"body":"Mike, on average, and I usually get"},{"speaker":"David Dodge","startTime":655.115,"endTime":657.375,"body":"less than five on the market a year."},{"speaker":"David Dodge","startTime":657.438,"endTime":658.578,"body":"Maybe two, maybe three."},{"speaker":"David Dodge","startTime":658.642,"endTime":659.122,"body":"Not many."},{"speaker":"Average Joe Finances","startTime":659.207,"endTime":659.327,"body":"Yeah"},{"speaker":"David Dodge","startTime":659.327,"endTime":662.207,"body":"and that's an average"},{"speaker":"David Dodge","startTime":659.327,"endTime":662.207,"body":"over seven or eight years of time,"},{"speaker":"David Dodge","startTime":662.687,"endTime":666.193,"body":"Average, about hundred houses a year,"},{"speaker":"David Dodge","startTime":662.687,"endTime":666.193,"body":"maybe five or less are on the MLS."},{"speaker":"David Dodge","startTime":666.193,"endTime":670.177,"body":"So 95% of the properties that"},{"speaker":"David Dodge","startTime":666.193,"endTime":670.177,"body":"I'm buying are off market because"},{"speaker":"David Dodge","startTime":670.177,"endTime":671.767,"body":"that's where you find deals."},{"speaker":"David Dodge","startTime":671.772,"endTime":674.097,"body":"You don't typically find deals on the mls."},{"speaker":"David Dodge","startTime":674.183,"endTime":678.103,"body":"And again, at this point, I just love to"},{"speaker":"David Dodge","startTime":674.183,"endTime":678.103,"body":"help people give back, teach them that,"},{"speaker":"David Dodge","startTime":678.153,"endTime":679.713,"body":"real estate doesn't have to be hard."},{"speaker":"David Dodge","startTime":679.713,"endTime":680.403,"body":"It's very simple."},{"speaker":"David Dodge","startTime":681.048,"endTime":682.908,"body":"But you gotta understand that"},{"speaker":"David Dodge","startTime":681.048,"endTime":682.908,"body":"it's a marketing business."},{"speaker":"David Dodge","startTime":682.908,"endTime":683.868,"body":"That's lesson number one."},{"speaker":"David Dodge","startTime":683.868,"endTime":686.698,"body":"And then lesson number two is"},{"speaker":"David Dodge","startTime":683.868,"endTime":686.698,"body":"you make your money when you"},{"speaker":"David Dodge","startTime":686.698,"endTime":688.863,"body":"buy, you get paid when you sell."},{"speaker":"David Dodge","startTime":688.903,"endTime":692.866,"body":"Now we all wanna get paid, but we won't"},{"speaker":"David Dodge","startTime":688.903,"endTime":692.866,"body":"get paid very much if we don't buy good."},{"speaker":"David Dodge","startTime":692.929,"endTime":696.109,"body":"And you might even buy bad and"},{"speaker":"David Dodge","startTime":692.929,"endTime":696.109,"body":"not get paid at all and actually"},{"speaker":"David Dodge","startTime":696.114,"endTime":697.721,"body":"have to pay money to sell that."},{"speaker":"David Dodge","startTime":697.895,"endTime":699.905,"body":"So how do we make money in real estate?"},{"speaker":"David Dodge","startTime":699.905,"endTime":701.315,"body":"We don't make it when we sell it."},{"speaker":"David Dodge","startTime":701.315,"endTime":702.275,"body":"We get paid when we sell."},{"speaker":"David Dodge","startTime":702.545,"endTime":705.305,"body":"We make money in real"},{"speaker":"David Dodge","startTime":702.545,"endTime":705.305,"body":"estate when we buy deals."},{"speaker":"David Dodge","startTime":705.375,"endTime":706.065,"body":"It's that simple."},{"speaker":"David Dodge","startTime":706.815,"endTime":707.715,"body":"Lesson number one."},{"speaker":"David Dodge","startTime":707.715,"endTime":708.705,"body":"This is a marketing business."},{"speaker":"David Dodge","startTime":708.71,"endTime":712.026,"body":"Lesson number two, you make your money"},{"speaker":"David Dodge","startTime":708.71,"endTime":712.026,"body":"when you buy, so the rest is history."},{"speaker":"David Dodge","startTime":712.086,"endTime":713.946,"body":"Mike, I love teaching people."},{"speaker":"David Dodge","startTime":713.946,"endTime":716.076,"body":"I love podcasts and I'm"},{"speaker":"David Dodge","startTime":713.946,"endTime":716.076,"body":"grateful to be here."},{"speaker":"David Dodge","startTime":716.136,"endTime":717.816,"body":"Happy to chat with you about it."},{"speaker":"David Dodge","startTime":718.326,"endTime":721.746,"body":"The BRRR method is my passion because"},{"speaker":"David Dodge","startTime":718.326,"endTime":721.746,"body":"it allows me to acquire rentals with"},{"speaker":"David Dodge","startTime":721.746,"endTime":725.73,"body":"little to no money Again, my average"},{"speaker":"David Dodge","startTime":721.746,"endTime":725.73,"body":"at this point is $1,200 outta pocket."},{"speaker":"David Dodge","startTime":726.09,"endTime":727.89,"body":"Some deals I can walk with money."},{"speaker":"David Dodge","startTime":728.25,"endTime":732.4,"body":"I did one about a month ago where I"},{"speaker":"David Dodge","startTime":728.25,"endTime":732.4,"body":"walked with 7,000 bucks on a deal,"},{"speaker":"David Dodge","startTime":732.457,"endTime":736.275,"body":"did one maybe five or six months ago,"},{"speaker":"David Dodge","startTime":732.457,"endTime":736.275,"body":"where I walked with $53,000 on a deal."},{"speaker":"David Dodge","startTime":736.28,"endTime":738.195,"body":"That means I have no money invested."},{"speaker":"David Dodge","startTime":738.2,"endTime":739.785,"body":"I bought it with somebody else's money."},{"speaker":"David Dodge","startTime":739.785,"endTime":740.625,"body":"I rehabbed it."},{"speaker":"David Dodge","startTime":740.681,"endTime":741.657,"body":"I rent, I."},{"speaker":"David Dodge","startTime":741.745,"endTime":743.875,"body":"Let's see, Bought it, rehabbed it, rented."},{"speaker":"David Dodge","startTime":744.295,"endTime":747.595,"body":"And then I took it to a bank and I"},{"speaker":"David Dodge","startTime":744.295,"endTime":747.595,"body":"refinanced it and I was able to pay back"},{"speaker":"David Dodge","startTime":747.595,"endTime":752.339,"body":"my lender for the purchase, the rehab,"},{"speaker":"David Dodge","startTime":747.595,"endTime":752.339,"body":"the closing, the utilities, the holding"},{"speaker":"David Dodge","startTime":752.339,"endTime":757.509,"body":"costs, and the interest added the asset"},{"speaker":"David Dodge","startTime":752.339,"endTime":757.509,"body":"to my portfolio, cash flowing asset"},{"speaker":"David Dodge","startTime":757.565,"endTime":761.375,"body":"with little to no capital expenditures"},{"speaker":"David Dodge","startTime":757.565,"endTime":761.375,"body":"needed because I rehabbed it already,"},{"speaker":"David Dodge","startTime":761.945,"endTime":764.465,"body":"at least for the next 5, 7, 10 years."},{"speaker":"David Dodge","startTime":764.577,"endTime":767.217,"body":"And then refinance that"},{"speaker":"David Dodge","startTime":764.577,"endTime":767.217,"body":"at a long term fixed rate."},{"speaker":"David Dodge","startTime":767.28,"endTime":771.404,"body":"And I'm creating a lot of debt for"},{"speaker":"David Dodge","startTime":767.28,"endTime":771.404,"body":"myself, but it's good debt and I love"},{"speaker":"David Dodge","startTime":771.404,"endTime":774.344,"body":"good debt because good debt's, debt"},{"speaker":"David Dodge","startTime":771.404,"endTime":774.344,"body":"that someone else pays off for you."},{"speaker":"David Dodge","startTime":774.4,"endTime":776.05,"body":"Bad debt is debt you have to pay off."},{"speaker":"David Dodge","startTime":776.05,"endTime":780.027,"body":"I don't have any bad debt, happy to say"},{"speaker":"David Dodge","startTime":776.05,"endTime":780.027,"body":"that, but I got a lot of good debt and"},{"speaker":"David Dodge","startTime":780.027,"endTime":781.737,"body":"that's what's making me a millionaire."},{"speaker":"David Dodge","startTime":781.737,"endTime":786.722,"body":"It's making me rich because every single"},{"speaker":"David Dodge","startTime":781.737,"endTime":786.722,"body":"month, not only does my portfolio spit off"},{"speaker":"David Dodge","startTime":786.722,"endTime":792.482,"body":"20,000 plus dollars worth of cash flow,"},{"speaker":"David Dodge","startTime":786.722,"endTime":792.482,"body":"which by the way is taxed way less than"},{"speaker":"David Dodge","startTime":792.482,"endTime":797.102,"body":"earned income, cause the government wants"},{"speaker":"David Dodge","startTime":792.482,"endTime":797.102,"body":"to reward people for providing housing to"},{"speaker":"David Dodge","startTime":797.102,"endTime":798.662,"body":"their neighbor and their fellow American."},{"speaker":"David Dodge","startTime":798.681,"endTime":801.831,"body":"And on top of that, all of these"},{"speaker":"David Dodge","startTime":798.681,"endTime":801.831,"body":"tenants that are renting these"},{"speaker":"David Dodge","startTime":801.831,"endTime":805.798,"body":"properties are paying these"},{"speaker":"David Dodge","startTime":801.831,"endTime":805.798,"body":"properties down 20 to $30,000 a month."},{"speaker":"David Dodge","startTime":805.831,"endTime":808.621,"body":"So you can see how this is"},{"speaker":"David Dodge","startTime":805.831,"endTime":808.621,"body":"going to snowball your wealth."},{"speaker":"David Dodge","startTime":809.161,"endTime":813.615,"body":"Additionally, when I buy rental"},{"speaker":"David Dodge","startTime":809.161,"endTime":813.615,"body":"properties and I capture 30, 40,"},{"speaker":"David Dodge","startTime":813.62,"endTime":818.185,"body":"$50,000 worth of equity in these"},{"speaker":"David Dodge","startTime":813.62,"endTime":818.185,"body":"deals, I'm not taxed on that equity."},{"speaker":"David Dodge","startTime":818.265,"endTime":821.475,"body":"That's one thing I think that a lot of"},{"speaker":"David Dodge","startTime":818.265,"endTime":821.475,"body":"people, they don't realize regardless"},{"speaker":"David Dodge","startTime":821.475,"endTime":822.735,"body":"if they're in real estate or not."},{"speaker":"David Dodge","startTime":823.055,"endTime":827.445,"body":"And this is something that you will"},{"speaker":"David Dodge","startTime":823.055,"endTime":827.445,"body":"be hard pressed to have a financial"},{"speaker":"David Dodge","startTime":827.445,"endTime":832.065,"body":"planner talk to you about, which I think"},{"speaker":"David Dodge","startTime":827.445,"endTime":832.065,"body":"is goes against their fiduciary duty"},{"speaker":"David Dodge","startTime":832.065,"endTime":837.841,"body":"to you is that you are taxed on income"},{"speaker":"David Dodge","startTime":832.065,"endTime":837.841,"body":"when it comes to the IRS tax code."},{"speaker":"David Dodge","startTime":837.893,"endTime":839.513,"body":"You are not taxed on wealth."},{"speaker":"David Dodge","startTime":839.56,"endTime":843.01,"body":"So if you create wealth,"},{"speaker":"David Dodge","startTime":839.56,"endTime":843.01,"body":"you don't pay any tax."},{"speaker":"David Dodge","startTime":843.1,"endTime":845.286,"body":"When you create income, you pay tax."},{"speaker":"David Dodge","startTime":845.286,"endTime":847.536,"body":"So now that you know this,"},{"speaker":"David Dodge","startTime":845.286,"endTime":847.536,"body":"and now that the listeners"},{"speaker":"David Dodge","startTime":847.536,"endTime":849.096,"body":"know this, hopefully you did."},{"speaker":"David Dodge","startTime":849.456,"endTime":852.431,"body":"Most people, 99.9% of people don 't."},{"speaker":"David Dodge","startTime":852.431,"endTime":855.563,"body":"Now that you know this, are you gonna"},{"speaker":"David Dodge","startTime":852.431,"endTime":855.563,"body":"wake up tomorrow and focus on making"},{"speaker":"David Dodge","startTime":855.568,"endTime":857.903,"body":"more money or creating more wealth?"},{"speaker":"David Dodge","startTime":858.293,"endTime":860.603,"body":"Me, I don't want more income."},{"speaker":"David Dodge","startTime":860.66,"endTime":863.19,"body":"Of course, I want more"},{"speaker":"David Dodge","startTime":860.66,"endTime":863.19,"body":"income, but I don't need it."},{"speaker":"David Dodge","startTime":863.19,"endTime":863.801,"body":"Let's reword it."},{"speaker":"David Dodge","startTime":863.806,"endTime":864.611,"body":"I don't need it."},{"speaker":"David Dodge","startTime":864.732,"endTime":869.202,"body":"What I want and need is wealth"},{"speaker":"David Dodge","startTime":864.732,"endTime":869.202,"body":"because it doesn't, it's not tax, it"},{"speaker":"David Dodge","startTime":869.202,"endTime":870.642,"body":"doesn't require me to pay a tax on it."},{"speaker":"David Dodge","startTime":870.642,"endTime":875.472,"body":"Now, if I go buy a property, let's say"},{"speaker":"David Dodge","startTime":870.642,"endTime":875.472,"body":"it's got $50,000 worth of equity, cause"},{"speaker":"David Dodge","startTime":875.477,"endTime":879.657,"body":"I bought it at a discount and I rehabbed"},{"speaker":"David Dodge","startTime":875.477,"endTime":879.657,"body":"it, and I forced appreciation above"},{"speaker":"David Dodge","startTime":879.657,"endTime":881.247,"body":"and beyond what I spent in my rehab."},{"speaker":"David Dodge","startTime":881.418,"endTime":884.088,"body":"And I now have, let's say,"},{"speaker":"David Dodge","startTime":881.418,"endTime":884.088,"body":"$50,000 worth of equity."},{"speaker":"David Dodge","startTime":884.088,"endTime":888.561,"body":"That's if I want that money, I can sell"},{"speaker":"David Dodge","startTime":884.088,"endTime":888.561,"body":"that property, and then I have an incoming"},{"speaker":"David Dodge","startTime":888.711,"endTime":893.871,"body":"event, which is gonna be taxable, but"},{"speaker":"David Dodge","startTime":888.711,"endTime":893.871,"body":"I don't have to sell that property if"},{"speaker":"David Dodge","startTime":893.871,"endTime":895.251,"body":"I don't need that money, number one."},{"speaker":"David Dodge","startTime":895.251,"endTime":898.311,"body":"And number two, if I do need that"},{"speaker":"David Dodge","startTime":895.251,"endTime":898.311,"body":"money, there's an alternative to"},{"speaker":"David Dodge","startTime":898.311,"endTime":902.031,"body":"selling that property, and that's going"},{"speaker":"David Dodge","startTime":898.311,"endTime":902.031,"body":"out and getting a loan against that."},{"speaker":"David Dodge","startTime":902.781,"endTime":907.641,"body":"And that loan isn't income either"},{"speaker":"David Dodge","startTime":902.781,"endTime":907.641,"body":"it's debt and you aren't taxed"},{"speaker":"David Dodge","startTime":907.641,"endTime":911.121,"body":"on wealth or debt only income."},{"speaker":"David Dodge","startTime":911.281,"endTime":914.911,"body":"So I make a good income, but I've"},{"speaker":"David Dodge","startTime":911.281,"endTime":914.911,"body":"essentially tried to cap my income at"},{"speaker":"David Dodge","startTime":914.911,"endTime":919.321,"body":"this point and try to keep it below a"},{"speaker":"David Dodge","startTime":914.911,"endTime":919.321,"body":"certain level because the more money"},{"speaker":"David Dodge","startTime":919.321,"endTime":920.791,"body":"I make, the more money I have to pay."},{"speaker":"David Dodge","startTime":920.791,"endTime":923.791,"body":"Uncle Sam, I don't like paying taxes."},{"speaker":"David Dodge","startTime":924.481,"endTime":929.651,"body":"I hope, hopefully every single person"},{"speaker":"David Dodge","startTime":924.481,"endTime":929.651,"body":"listening to this or watching this agrees."},{"speaker":"David Dodge","startTime":930.161,"endTime":933.151,"body":"If they don't like paying"},{"speaker":"David Dodge","startTime":930.161,"endTime":933.151,"body":"taxes either, taxes suck."},{"speaker":"David Dodge","startTime":933.571,"endTime":935.041,"body":"They get mismanaged."},{"speaker":"David Dodge","startTime":935.111,"endTime":938.291,"body":"They're robbing us of our"},{"speaker":"David Dodge","startTime":935.111,"endTime":938.291,"body":"money, our hard earned money."},{"speaker":"David Dodge","startTime":938.355,"endTime":942.945,"body":"So how do you prevent taxes or"},{"speaker":"David Dodge","startTime":938.355,"endTime":942.945,"body":"mitigate them or reduce them legally?"},{"speaker":"David Dodge","startTime":943.355,"endTime":944.595,"body":"Keyword there."},{"speaker":"David Dodge","startTime":944.595,"endTime":945.265,"body":"Legally."},{"speaker":"David Dodge","startTime":945.725,"endTime":952.505,"body":"You buy real estate, you focus your"},{"speaker":"David Dodge","startTime":945.725,"endTime":952.505,"body":"efforts on creating wealth, not income."},{"speaker":"David Dodge","startTime":952.505,"endTime":954.615,"body":"Now, the great thing about"},{"speaker":"David Dodge","startTime":952.505,"endTime":954.615,"body":"rentals is they do both."},{"speaker":"David Dodge","startTime":955.115,"endTime":957.335,"body":"They create income and they create wealth."},{"speaker":"David Dodge","startTime":957.635,"endTime":958.625,"body":"But here's the coolest part."},{"speaker":"David Dodge","startTime":958.625,"endTime":962.928,"body":"The income that are is created from these"},{"speaker":"David Dodge","startTime":958.625,"endTime":962.928,"body":"rentals is taxed a lot less because it's"},{"speaker":"David Dodge","startTime":962.928,"endTime":965.658,"body":"passive income versus earned income."},{"speaker":"David Dodge","startTime":965.658,"endTime":970.848,"body":"There's five different buckets in which"},{"speaker":"David Dodge","startTime":965.658,"endTime":970.848,"body":"the IRS will tax you on your income, and"},{"speaker":"David Dodge","startTime":970.853,"endTime":972.888,"body":"the earned income is the highest tax."},{"speaker":"David Dodge","startTime":973.308,"endTime":975.318,"body":"The passive income is the lowest tax."},{"speaker":"David Dodge","startTime":975.768,"endTime":976.698,"body":"That ain't fair."},{"speaker":"David Dodge","startTime":977.298,"endTime":977.988,"body":"Let's be honest."},{"speaker":"David Dodge","startTime":978.228,"endTime":980.881,"body":"That shit ain't fair, but it's the law."},{"speaker":"David Dodge","startTime":980.961,"endTime":981.501,"body":"What?"},{"speaker":"David Dodge","startTime":981.741,"endTime":982.341,"body":"Crazy."},{"speaker":"David Dodge","startTime":982.791,"endTime":983.361,"body":"Guess why?"},{"speaker":"David Dodge","startTime":983.361,"endTime":983.931,"body":"It's the law."},{"speaker":"David Dodge","startTime":983.961,"endTime":985.341,"body":"I'll tell you, I know."},{"speaker":"David Dodge","startTime":985.821,"endTime":989.541,"body":"It's because rich people write"},{"speaker":"David Dodge","startTime":985.821,"endTime":989.541,"body":"laws to protect rich people."},{"speaker":"David Dodge","startTime":989.841,"endTime":994.221,"body":"When's the last time you saw somebody"},{"speaker":"David Dodge","startTime":989.841,"endTime":994.221,"body":"at Taco Bell or Jack in the Box?"},{"speaker":"David Dodge","startTime":994.221,"endTime":997.191,"body":"And no offense to anyone that"},{"speaker":"David Dodge","startTime":994.221,"endTime":997.191,"body":"works at these establishments."},{"speaker":"David Dodge","startTime":997.241,"endTime":1000.001,"body":"But when is the last time you"},{"speaker":"David Dodge","startTime":997.241,"endTime":1000.001,"body":"saw them become a senator?"},{"speaker":"David Dodge","startTime":1000.044,"endTime":1001.964,"body":"To my knowledge, it's never happened."},{"speaker":"David Dodge","startTime":1001.994,"endTime":1005.611,"body":"It costs a lot of money to run to be"},{"speaker":"David Dodge","startTime":1001.994,"endTime":1005.611,"body":"a senator or a state representative."},{"speaker":"David Dodge","startTime":1005.681,"endTime":1007.661,"body":"It's wealthy people that get these rules."},{"speaker":"David Dodge","startTime":1007.961,"endTime":1009.611,"body":"These are our lawmakers guys."},{"speaker":"David Dodge","startTime":1009.641,"endTime":1011.621,"body":"These are the people that"},{"speaker":"David Dodge","startTime":1009.641,"endTime":1011.621,"body":"are writing the laws."},{"speaker":"David Dodge","startTime":1012.161,"endTime":1017.678,"body":"They're slipping in laws, in rules,"},{"speaker":"David Dodge","startTime":1012.161,"endTime":1017.678,"body":"in loopholes, any which way they can"},{"speaker":"David Dodge","startTime":1017.678,"endTime":1019.208,"body":"to protect them and their friends."},{"speaker":"David Dodge","startTime":1019.238,"endTime":1020.378,"body":"Here's the beautiful thing."},{"speaker":"David Dodge","startTime":1020.412,"endTime":1024.425,"body":"The beautiful thing is we can play by"},{"speaker":"David Dodge","startTime":1020.412,"endTime":1024.425,"body":"those rules too, and we can do it legally."},{"speaker":"David Dodge","startTime":1024.509,"endTime":1027.935,"body":"So we're gonna focus our efforts on"},{"speaker":"David Dodge","startTime":1024.509,"endTime":1027.935,"body":"creating wealth, we're gonna focus"},{"speaker":"David Dodge","startTime":1027.935,"endTime":1032.387,"body":"our efforts on using real estate to"},{"speaker":"David Dodge","startTime":1027.935,"endTime":1032.387,"body":"prevent paying taxes, and we're even"},{"speaker":"David Dodge","startTime":1032.387,"endTime":1038.237,"body":"gonna use real estate to pass on a"},{"speaker":"David Dodge","startTime":1032.387,"endTime":1038.237,"body":"legacy to our children's tax free."},{"speaker":"David Dodge","startTime":1038.33,"endTime":1040.76,"body":"But if we don't use real estate,"},{"speaker":"David Dodge","startTime":1038.33,"endTime":1040.76,"body":"we're gonna have to get really"},{"speaker":"David Dodge","startTime":1040.765,"endTime":1044.63,"body":"creative with trust and wills and"},{"speaker":"David Dodge","startTime":1040.765,"endTime":1044.63,"body":"all these things to even have a"},{"speaker":"David Dodge","startTime":1044.63,"endTime":1047.0,"body":"shot at preventing the death tax."},{"speaker":"David Dodge","startTime":1047.06,"endTime":1048.747,"body":"With real estate it's black and white."},{"speaker":"David Dodge","startTime":1048.747,"endTime":1050.215,"body":"So that's what I love about real estate."},{"speaker":"David Dodge","startTime":1050.215,"endTime":1051.145,"body":"That's my past."},{"speaker":"David Dodge","startTime":1051.145,"endTime":1052.165,"body":"I'm happy to be here."},{"speaker":"David Dodge","startTime":1052.675,"endTime":1053.855,"body":"And I feel like I'm doing all the talking."},{"speaker":"Average Joe Finances","startTime":1053.855,"endTime":1054.847,"body":"I"},{"speaker":"Average Joe Finances","startTime":1053.855,"endTime":1054.847,"body":"mean that's the episode."},{"speaker":"Average Joe Finances","startTime":1054.847,"endTime":1055.267,"body":"No, I'm kidding."},{"speaker":"Average Joe Finances","startTime":1056.287,"endTime":1056.527,"body":". Hey."},{"speaker":"Average Joe Finances","startTime":1056.532,"endTime":1059.337,"body":"So a lot to unpack here, David with"},{"speaker":"Average Joe Finances","startTime":1056.532,"endTime":1059.337,"body":"everything you were talking about."},{"speaker":"Average Joe Finances","startTime":1059.337,"endTime":1060.297,"body":"I was taking these notes."},{"speaker":"Average Joe Finances","startTime":1060.414,"endTime":1061.114,"body":"Really great stuff."},{"speaker":"Average Joe Finances","startTime":1061.134,"endTime":1065.067,"body":"You completely ran the gamut of what"},{"speaker":"Average Joe Finances","startTime":1061.134,"endTime":1065.067,"body":"you've done since you started investing."},{"speaker":"Average Joe Finances","startTime":1065.487,"endTime":1070.182,"body":"First thing I wanna point out here is,"},{"speaker":"Average Joe Finances","startTime":1065.487,"endTime":1070.182,"body":"You started investing at the age of 20?"},{"speaker":"Average Joe Finances","startTime":1070.254,"endTime":1074.354,"body":"There's a lot of people that I bring"},{"speaker":"Average Joe Finances","startTime":1070.254,"endTime":1074.354,"body":"on this show that they always say, like"},{"speaker":"Average Joe Finances","startTime":1074.397,"endTime":1077.007,"body":"when I ask 'em like, what's, what's one"},{"speaker":"Average Joe Finances","startTime":1074.397,"endTime":1077.007,"body":"thing you wish you would've did when you"},{"speaker":"Average Joe Finances","startTime":1077.007,"endTime":1078.837,"body":"were, or differently or things like that."},{"speaker":"Average Joe Finances","startTime":1078.837,"endTime":1081.327,"body":"And they say, I wish I would've"},{"speaker":"Average Joe Finances","startTime":1078.837,"endTime":1081.327,"body":"started when I was younger."},{"speaker":"Average Joe Finances","startTime":1081.732,"endTime":1083.36,"body":". That's one of the biggest"},{"speaker":"Average Joe Finances","startTime":1081.732,"endTime":1083.36,"body":"things I hear all the time."},{"speaker":"Average Joe Finances","startTime":1083.36,"endTime":1084.59,"body":"I wish I would've started"},{"speaker":"Average Joe Finances","startTime":1083.36,"endTime":1084.59,"body":"when I was younger."},{"speaker":"Average Joe Finances","startTime":1084.98,"endTime":1088.34,"body":"I had a guy on not too long ago that"},{"speaker":"Average Joe Finances","startTime":1084.98,"endTime":1088.34,"body":"started at the age of 26, and even he"},{"speaker":"Average Joe Finances","startTime":1088.34,"endTime":1089.84,"body":"said, I wish I started when I was younger."},{"speaker":"Average Joe Finances","startTime":1090.08,"endTime":1091.19,"body":"Like maybe when I was 20."},{"speaker":"Average Joe Finances","startTime":1091.251,"endTime":1093.891,"body":"Now I got somebody on the show"},{"speaker":"Average Joe Finances","startTime":1091.251,"endTime":1093.891,"body":"that started when he was 20  and"},{"speaker":"Average Joe Finances","startTime":1093.891,"endTime":1094.761,"body":"look at what's going on here."},{"speaker":"David Dodge","startTime":1094.766,"endTime":1095.001,"body":"That's right."},{"speaker":"Average Joe Finances","startTime":1095.001,"endTime":1096.585,"body":"I wanna"},{"speaker":"Average Joe Finances","startTime":1095.001,"endTime":1096.585,"body":"point something out here that"},{"speaker":"Average Joe Finances","startTime":1096.667,"endTime":1100.179,"body":"you know, that class that you"},{"speaker":"Average Joe Finances","startTime":1096.667,"endTime":1100.179,"body":"took back at was it Missouri?"},{"speaker":"Average Joe Finances","startTime":1100.243,"endTime":1101.863,"body":"Missouri, Columbia University."},{"speaker":"Average Joe Finances","startTime":1101.923,"endTime":1102.223,"body":"Missouri."},{"speaker":"Average Joe Finances","startTime":1102.286,"endTime":1102.796,"body":"In Columbia"},{"speaker":"David Dodge","startTime":1102.825,"endTime":1102.937,"body":"Yep."},{"speaker":"David Dodge","startTime":1103.177,"endTime":1104.707,"body":"University of Missouri, Columbia, Yep."},{"speaker":"Average Joe Finances","startTime":1104.957,"endTime":1108.529,"body":"If everybody would"},{"speaker":"Average Joe Finances","startTime":1104.957,"endTime":1108.529,"body":"get into a class like that when they start"},{"speaker":"Average Joe Finances","startTime":1108.529,"endTime":1112.682,"body":"college or even have a class like that in"},{"speaker":"Average Joe Finances","startTime":1108.529,"endTime":1112.682,"body":"high school, where the first thing that"},{"speaker":"Average Joe Finances","startTime":1112.682,"endTime":1116.252,"body":"happens is they hand you rich dad, poor"},{"speaker":"Average Joe Finances","startTime":1112.682,"endTime":1116.252,"body":"dad, and they base the class around that."},{"speaker":"Average Joe Finances","startTime":1116.341,"endTime":1120.095,"body":"You're setting up a whole"},{"speaker":"Average Joe Finances","startTime":1116.341,"endTime":1120.095,"body":"classroom of people up for success"},{"speaker":"Average Joe Finances","startTime":1120.095,"endTime":1123.079,"body":"to become wealthy and become"},{"speaker":"Average Joe Finances","startTime":1120.095,"endTime":1123.079,"body":"millionaires, future millionaires."},{"speaker":"Average Joe Finances","startTime":1123.096,"endTime":1126.907,"body":"So the fact that you were able to"},{"speaker":"Average Joe Finances","startTime":1123.096,"endTime":1126.907,"body":"learn that at a much younger age"},{"speaker":"Average Joe Finances","startTime":1126.907,"endTime":1128.807,"body":"than what most people do is huge."},{"speaker":"Average Joe Finances","startTime":1128.807,"endTime":1131.996,"body":"And I think it's a testament to what"},{"speaker":"Average Joe Finances","startTime":1128.807,"endTime":1131.996,"body":"you were able to build since then."},{"speaker":"Average Joe Finances","startTime":1132.386,"endTime":1136.831,"body":"And even though I know you said, Oh over"},{"speaker":"Average Joe Finances","startTime":1132.386,"endTime":1136.831,"body":"the 10 year period I bought 12 properties"},{"speaker":"Average Joe Finances","startTime":1136.831,"endTime":1140.449,"body":"and then I started going to these REITEs"},{"speaker":"Average Joe Finances","startTime":1136.831,"endTime":1140.449,"body":"and I met somebody that had 400 properties"},{"speaker":"Average Joe Finances","startTime":1140.449,"endTime":1143.929,"body":"in that same amount of time and I'm like,"},{"speaker":"Average Joe Finances","startTime":1140.449,"endTime":1143.929,"body":"It'll take me 10 lifetimes to get there."},{"speaker":"Average Joe Finances","startTime":1143.957,"endTime":1147.214,"body":"But realistically, if you look at"},{"speaker":"Average Joe Finances","startTime":1143.957,"endTime":1147.214,"body":"where you were at 30 years old, what"},{"speaker":"Average Joe Finances","startTime":1147.214,"endTime":1151.534,"body":"you did from 20 to 30 versus what"},{"speaker":"Average Joe Finances","startTime":1147.214,"endTime":1151.534,"body":"other people have done from 20-30,"},{"speaker":"Average Joe Finances","startTime":1151.774,"endTime":1155.184,"body":"you were already light years ahead"},{"speaker":"Average Joe Finances","startTime":1151.774,"endTime":1155.184,"body":"of what other people are doing."},{"speaker":"Average Joe Finances","startTime":1155.184,"endTime":1158.659,"body":"And to think that you have 12"},{"speaker":"Average Joe Finances","startTime":1155.184,"endTime":1158.659,"body":"cash flowing properties, and the"},{"speaker":"Average Joe Finances","startTime":1158.659,"endTime":1161.809,"body":"fact that you start off with house"},{"speaker":"Average Joe Finances","startTime":1158.659,"endTime":1161.809,"body":"hacking is even better, right?"},{"speaker":"Average Joe Finances","startTime":1161.809,"endTime":1163.939,"body":"So you're essentially getting yourself"},{"speaker":"Average Joe Finances","startTime":1161.809,"endTime":1163.939,"body":"to a point where you're starting off"},{"speaker":"Average Joe Finances","startTime":1163.939,"endTime":1165.869,"body":"life and living for free, essentially."},{"speaker":"Average Joe Finances","startTime":1165.869,"endTime":1166.666,"body":"That's huge."},{"speaker":"Average Joe Finances","startTime":1166.688,"endTime":1168.908,"body":"And being able to just"},{"speaker":"Average Joe Finances","startTime":1166.688,"endTime":1168.908,"body":"buy a property a year."},{"speaker":"Average Joe Finances","startTime":1169.004,"endTime":1172.133,"body":"If somebody does that over a 10 year"},{"speaker":"Average Joe Finances","startTime":1169.004,"endTime":1172.133,"body":"period like you did, essentially,"},{"speaker":"Average Joe Finances","startTime":1172.133,"endTime":1175.433,"body":"you can be financially independent"},{"speaker":"Average Joe Finances","startTime":1172.133,"endTime":1175.433,"body":"just from that in general as"},{"speaker":"Average Joe Finances","startTime":1175.433,"endTime":1176.633,"body":"you're paying these assets down."},{"speaker":"Average Joe Finances","startTime":1176.633,"endTime":1178.134,"body":"But you wanted to take it a step further."},{"speaker":"Average Joe Finances","startTime":1178.134,"endTime":1180.414,"body":"You started seeing what some of these"},{"speaker":"Average Joe Finances","startTime":1178.134,"endTime":1180.414,"body":"other people are doing, so you wanted"},{"speaker":"Average Joe Finances","startTime":1180.414,"endTime":1182.485,"body":"to jump in there and go big and you did."},{"speaker":"Average Joe Finances","startTime":1182.508,"endTime":1185.472,"body":"There's a couple different things that"},{"speaker":"Average Joe Finances","startTime":1182.508,"endTime":1185.472,"body":"I think this episode could be named."},{"speaker":"Average Joe Finances","startTime":1185.502,"endTime":1187.872,"body":"One of my wrote down, like"},{"speaker":"Average Joe Finances","startTime":1185.502,"endTime":1187.872,"body":"you said before, was keep"},{"speaker":"Average Joe Finances","startTime":1187.872,"endTime":1189.112,"body":"the best, wholesale the rest."},{"speaker":"Average Joe Finances","startTime":1189.17,"endTime":1191.84,"body":"But I also like you know,  you"},{"speaker":"Average Joe Finances","startTime":1189.17,"endTime":1191.84,"body":"make your money when you buy"},{"speaker":"Average Joe Finances","startTime":1191.9,"endTime":1193.04,"body":"and you get paid when you sell."},{"speaker":"Average Joe Finances","startTime":1193.108,"endTime":1193.948,"body":"I think that's awesome."},{"speaker":"Average Joe Finances","startTime":1193.948,"endTime":1197.548,"body":"So two, two very awesome phrases that I"},{"speaker":"Average Joe Finances","startTime":1193.948,"endTime":1197.548,"body":"think people should take away from this."},{"speaker":"Average Joe Finances","startTime":1197.569,"endTime":1198.467,"body":"Because it is."},{"speaker":"Average Joe Finances","startTime":1198.492,"endTime":1201.762,"body":"It's when you make the deal, that's"},{"speaker":"Average Joe Finances","startTime":1198.492,"endTime":1201.762,"body":"where you're making your money."},{"speaker":"Average Joe Finances","startTime":1201.762,"endTime":1203.112,"body":"That's where you make your bread, right?"},{"speaker":"Average Joe Finances","startTime":1203.116,"endTime":1205.025,"body":"And then when you sell,"},{"speaker":"Average Joe Finances","startTime":1203.116,"endTime":1205.025,"body":"that's when you get to eat."},{"speaker":"Average Joe Finances","startTime":1205.475,"endTime":1207.095,"body":"So that's when you way"},{"speaker":"Average Joe Finances","startTime":1205.475,"endTime":1207.095,"body":"to look at it, right?"},{"speaker":"David Dodge","startTime":1207.095,"endTime":1211.311,"body":"And one thing you just"},{"speaker":"David Dodge","startTime":1207.095,"endTime":1211.311,"body":"said too which I love, and, it's, you"},{"speaker":"David Dodge","startTime":1211.311,"endTime":1215.779,"body":"said a lot of people wish that they"},{"speaker":"David Dodge","startTime":1211.311,"endTime":1215.779,"body":"started earlier and a lot of times when"},{"speaker":"David Dodge","startTime":1215.779,"endTime":1220.219,"body":"I tell I don't really have a lesson,"},{"speaker":"David Dodge","startTime":1215.779,"endTime":1220.219,"body":"number three, I have 300 lessons, and"},{"speaker":"David Dodge","startTime":1220.219,"endTime":1223.909,"body":"lesson number three and 300 can all"},{"speaker":"David Dodge","startTime":1220.219,"endTime":1223.909,"body":"be equally the same, but number one,"},{"speaker":"David Dodge","startTime":1223.909,"endTime":1226.309,"body":"number two are in that order, right?"},{"speaker":"David Dodge","startTime":1227.059,"endTime":1231.229,"body":"The lesson number three essentially"},{"speaker":"David Dodge","startTime":1227.059,"endTime":1231.229,"body":"is don't wait to buy real estate."},{"speaker":"David Dodge","startTime":1231.619,"endTime":1232.909,"body":"Buy real estate and wait."},{"speaker":"Average Joe Finances","startTime":1233.209,"endTime":1233.389,"body":"Yep."},{"speaker":"David Dodge","startTime":1234.049,"endTime":1236.629,"body":"And the quicker"},{"speaker":"David Dodge","startTime":1234.049,"endTime":1236.629,"body":"you can do that, the quicker you"},{"speaker":"David Dodge","startTime":1236.629,"endTime":1239.809,"body":"can create wealth and income."},{"speaker":"David Dodge","startTime":1240.109,"endTime":1242.499,"body":"Don't get me wrong, guys, I love income."},{"speaker":"David Dodge","startTime":1242.959,"endTime":1246.724,"body":"My real estate portfolio pays me over"},{"speaker":"David Dodge","startTime":1242.959,"endTime":1246.724,"body":"20 grand a month to sit on my butt."},{"speaker":"David Dodge","startTime":1246.724,"endTime":1250.774,"body":"In fact, I'm at home right now sitting"},{"speaker":"David Dodge","startTime":1246.724,"endTime":1250.774,"body":"in my favorite leather chair hanging out."},{"speaker":"David Dodge","startTime":1250.774,"endTime":1254.464,"body":"I left my office today at two o'clock"},{"speaker":"David Dodge","startTime":1250.774,"endTime":1254.464,"body":"and came home and spent some time"},{"speaker":"David Dodge","startTime":1254.464,"endTime":1258.784,"body":"with my wife, and I'm here today"},{"speaker":"David Dodge","startTime":1254.464,"endTime":1258.784,"body":"enjoying this time with you, right?"},{"speaker":"David Dodge","startTime":1258.994,"endTime":1263.207,"body":"I love the income side of it, but I"},{"speaker":"David Dodge","startTime":1258.994,"endTime":1263.207,"body":"don't want to go take my income to a"},{"speaker":"David Dodge","startTime":1263.207,"endTime":1266.891,"body":"million or $2 million a year when I"},{"speaker":"David Dodge","startTime":1263.207,"endTime":1266.891,"body":"could pivot those efforts into creating"},{"speaker":"David Dodge","startTime":1266.891,"endTime":1271.181,"body":"a 1 million or $2 million worth of"},{"speaker":"David Dodge","startTime":1266.891,"endTime":1271.181,"body":"wealth a year and pay no taxes on."},{"speaker":"David Dodge","startTime":1271.811,"endTime":1276.701,"body":"And then access that capital as needed"},{"speaker":"David Dodge","startTime":1271.811,"endTime":1276.701,"body":"through either selling it or borrowing"},{"speaker":"David Dodge","startTime":1276.701,"endTime":1280.241,"body":"against it, which would be my personal"},{"speaker":"David Dodge","startTime":1276.701,"endTime":1280.241,"body":"favorite thing to do, because then I can"},{"speaker":"David Dodge","startTime":1280.246,"endTime":1284.961,"body":"get access to that equity without paying"},{"speaker":"David Dodge","startTime":1280.246,"endTime":1284.961,"body":"taxes on it as right there as well."},{"speaker":"David Dodge","startTime":1284.961,"endTime":1288.076,"body":"I'm a real estate professional and"},{"speaker":"David Dodge","startTime":1284.961,"endTime":1288.076,"body":"I'm an entrepreneur, but I'm really a"},{"speaker":"David Dodge","startTime":1288.076,"endTime":1292.438,"body":"tax nerd at the end of the day because"},{"speaker":"David Dodge","startTime":1288.076,"endTime":1292.438,"body":"I know that it is that important."},{"speaker":"David Dodge","startTime":1292.708,"endTime":1295.138,"body":"So let me just say one more thing and then"},{"speaker":"David Dodge","startTime":1292.708,"endTime":1295.138,"body":"we can get back to your thoughts here."},{"speaker":"David Dodge","startTime":1295.438,"endTime":1298.928,"body":"If you ask the average person on"},{"speaker":"David Dodge","startTime":1295.438,"endTime":1298.928,"body":"the street, Mike, how much they"},{"speaker":"David Dodge","startTime":1298.928,"endTime":1303.128,"body":"pay in taxes, most people are"},{"speaker":"David Dodge","startTime":1298.928,"endTime":1303.128,"body":"gonna say, I don't know, maybe 35%."},{"speaker":"David Dodge","startTime":1303.225,"endTime":1305.685,"body":"And they're not wrong,"},{"speaker":"David Dodge","startTime":1303.225,"endTime":1305.685,"body":"but they're way wrong."},{"speaker":"David Dodge","startTime":1305.745,"endTime":1306.345,"body":"Here's why."},{"speaker":"David Dodge","startTime":1307.755,"endTime":1312.908,"body":"They may pay roughly 35% in income tax"},{"speaker":"David Dodge","startTime":1307.755,"endTime":1312.908,"body":"when they earn the money, but they're"},{"speaker":"David Dodge","startTime":1313.368,"endTime":1316.685,"body":"discounting all the other taxes So"},{"speaker":"David Dodge","startTime":1313.368,"endTime":1316.685,"body":"when you go to the grocery store,"},{"speaker":"David Dodge","startTime":1316.685,"endTime":1321.335,"body":"unless you live in one or two states"},{"speaker":"David Dodge","startTime":1316.685,"endTime":1321.335,"body":"that don't have income tax, most do."},{"speaker":"David Dodge","startTime":1321.935,"endTime":1325.955,"body":"When you go to the grocery store, you're"},{"speaker":"David Dodge","startTime":1321.935,"endTime":1325.955,"body":"gonna pay between eight and 10% sales tax."},{"speaker":"David Dodge","startTime":1326.045,"endTime":1330.665,"body":"So when you buy your eggs, you buy your"},{"speaker":"David Dodge","startTime":1326.045,"endTime":1330.665,"body":"milk, you buy your broccoli, 10% on top."},{"speaker":"David Dodge","startTime":1330.712,"endTime":1334.338,"body":"When you buy your gas, your beer,"},{"speaker":"David Dodge","startTime":1330.712,"endTime":1334.338,"body":"your cigs, whatever you're into,"},{"speaker":"David Dodge","startTime":1334.388,"endTime":1337.508,"body":"you're paying sales tax and even"},{"speaker":"David Dodge","startTime":1334.388,"endTime":1337.508,"body":"more taxes on certain items."},{"speaker":"David Dodge","startTime":1338.018,"endTime":1339.608,"body":"It could be as high as 15%."},{"speaker":"David Dodge","startTime":1339.667,"endTime":1341.947,"body":"So you're paying 35%"},{"speaker":"David Dodge","startTime":1339.667,"endTime":1341.947,"body":"when you make your money."},{"speaker":"David Dodge","startTime":1341.947,"endTime":1345.417,"body":"You're paying 10% when you spend it,"},{"speaker":"David Dodge","startTime":1341.947,"endTime":1345.417,"body":"and then when you buy things like"},{"speaker":"David Dodge","startTime":1345.417,"endTime":1350.2,"body":"houses, boats, cars, trailers, or"},{"speaker":"David Dodge","startTime":1345.417,"endTime":1350.2,"body":"fees, airplanes, certain things cost"},{"speaker":"David Dodge","startTime":1350.2,"endTime":1351.79,"body":"you money to own 'em every year."},{"speaker":"David Dodge","startTime":1351.84,"endTime":1355.25,"body":"With personal property taxes or real"},{"speaker":"David Dodge","startTime":1351.84,"endTime":1355.25,"body":"estate taxes, that's gonna vary."},{"speaker":"David Dodge","startTime":1355.25,"endTime":1356.66,"body":"It's typically a small amount."},{"speaker":"David Dodge","startTime":1356.66,"endTime":1362.096,"body":"Could be anywhere from one to 5%, but"},{"speaker":"David Dodge","startTime":1356.66,"endTime":1362.096,"body":"it's tacked on to the 35% and the 10%."},{"speaker":"David Dodge","startTime":1362.18,"endTime":1365.916,"body":"Now you got another, let's call"},{"speaker":"David Dodge","startTime":1362.18,"endTime":1365.916,"body":"it 5%, and then if you die and you"},{"speaker":"David Dodge","startTime":1365.916,"endTime":1368.936,"body":"don't have it set up right your kids"},{"speaker":"David Dodge","startTime":1365.916,"endTime":1368.936,"body":"are gonna be paying taxes on that."},{"speaker":"David Dodge","startTime":1368.936,"endTime":1372.195,"body":"So what I'm getting at is the"},{"speaker":"David Dodge","startTime":1368.936,"endTime":1372.195,"body":"amount of taxes that we all pay"},{"speaker":"David Dodge","startTime":1372.195,"endTime":1377.955,"body":"isn't 35%, which most people will"},{"speaker":"David Dodge","startTime":1372.195,"endTime":1377.955,"body":"say roughly, it's actually 55%."},{"speaker":"David Dodge","startTime":1378.361,"endTime":1381.268,"body":"And when you start to learn"},{"speaker":"David Dodge","startTime":1378.361,"endTime":1381.268,"body":"these things, you start to get"},{"speaker":"David Dodge","startTime":1381.268,"endTime":1382.678,"body":"frustrated with the system."},{"speaker":"David Dodge","startTime":1382.748,"endTime":1386.048,"body":"And a lot of people, they don't"},{"speaker":"David Dodge","startTime":1382.748,"endTime":1386.048,"body":"necessarily have these desires"},{"speaker":"David Dodge","startTime":1386.048,"endTime":1388.631,"body":"and goals to make a bunch more"},{"speaker":"David Dodge","startTime":1386.048,"endTime":1388.631,"body":"money because they get to pay."},{"speaker":"David Dodge","startTime":1388.631,"endTime":1392.471,"body":"The more money you make, the bigger"},{"speaker":"David Dodge","startTime":1388.631,"endTime":1392.471,"body":"piece of the pie the government gets."},{"speaker":"David Dodge","startTime":1392.551,"endTime":1395.161,"body":"You're actually rewarded"},{"speaker":"David Dodge","startTime":1392.551,"endTime":1395.161,"body":"to make less money."},{"speaker":"David Dodge","startTime":1395.551,"endTime":1396.391,"body":"It's not right."},{"speaker":"David Dodge","startTime":1396.391,"endTime":1397.261,"body":"It's stupid, right?"},{"speaker":"David Dodge","startTime":1397.311,"endTime":1399.381,"body":"So me personally, I know these things."},{"speaker":"David Dodge","startTime":1399.381,"endTime":1402.381,"body":"I learned these things at a young"},{"speaker":"David Dodge","startTime":1399.381,"endTime":1402.381,"body":"age and every day when I wake up,"},{"speaker":"David Dodge","startTime":1402.381,"endTime":1403.941,"body":"I'm not focused on making more money."},{"speaker":"David Dodge","startTime":1403.941,"endTime":1406.611,"body":"I'm focused on creating more"},{"speaker":"David Dodge","startTime":1403.941,"endTime":1406.611,"body":"wealth, and I think everybody"},{"speaker":"David Dodge","startTime":1406.611,"endTime":1408.021,"body":"should try to have that mindset."},{"speaker":"David Dodge","startTime":1408.411,"endTime":1410.481,"body":"Because if you're making more"},{"speaker":"David Dodge","startTime":1408.411,"endTime":1410.481,"body":"money and you're paying more"},{"speaker":"David Dodge","startTime":1410.481,"endTime":1412.431,"body":"taxes, you can't snowball anything."},{"speaker":"David Dodge","startTime":1412.498,"endTime":1415.588,"body":"But when you're making wealth and"},{"speaker":"David Dodge","startTime":1412.498,"endTime":1415.588,"body":"creating wealth by getting equity and"},{"speaker":"David Dodge","startTime":1415.588,"endTime":1419.631,"body":"property and not paying taxes, and you"},{"speaker":"David Dodge","startTime":1415.588,"endTime":1419.631,"body":"can borrow against that to go buy more"},{"speaker":"David Dodge","startTime":1419.631,"endTime":1423.291,"body":"wealth or create more wealth, it can"},{"speaker":"David Dodge","startTime":1419.631,"endTime":1423.291,"body":"truly snowball and it's made me millions"},{"speaker":"David Dodge","startTime":1423.291,"endTime":1426.311,"body":"of dollars worth of, I have millions of"},{"speaker":"David Dodge","startTime":1423.291,"endTime":1426.311,"body":"dollars worth of equity in my real estate."},{"speaker":"Average Joe Finances","startTime":1426.311,"endTime":1426.701,"body":"That's huge."},{"speaker":"David Dodge","startTime":1426.701,"endTime":1427.151,"body":"Millions."},{"speaker":"David Dodge","startTime":1427.631,"endTime":1431.825,"body":"And it's not because I'm great or smart,"},{"speaker":"David Dodge","startTime":1427.631,"endTime":1431.825,"body":"it's because I'm patient and I buy deals."},{"speaker":"David Dodge","startTime":1431.838,"endTime":1434.985,"body":"And I use strategies to get those deals"},{"speaker":"David Dodge","startTime":1431.838,"endTime":1434.985,"body":"and acquire those deals with little to"},{"speaker":"David Dodge","startTime":1434.985,"endTime":1439.545,"body":"no money and my focus isn't selling them"},{"speaker":"David Dodge","startTime":1434.985,"endTime":1439.545,"body":"and making profits that are taxable."},{"speaker":"David Dodge","startTime":1439.545,"endTime":1443.392,"body":"It's keeping 'em, and then using"},{"speaker":"David Dodge","startTime":1439.545,"endTime":1443.392,"body":"tax benefits like depreciation and"},{"speaker":"David Dodge","startTime":1443.392,"endTime":1446.632,"body":"other things to increase my expenses"},{"speaker":"David Dodge","startTime":1443.392,"endTime":1446.632,"body":"without actually increasing my"},{"speaker":"David Dodge","startTime":1446.637,"endTime":1450.879,"body":"expenses, phantom expense depreciation"},{"speaker":"David Dodge","startTime":1446.637,"endTime":1450.879,"body":"to pay less and less taxes."},{"speaker":"David Dodge","startTime":1450.879,"endTime":1455.889,"body":"My effective tax rate is less than 20%,"},{"speaker":"David Dodge","startTime":1450.879,"endTime":1455.889,"body":"and most people's is closer to 40%."},{"speaker":"David Dodge","startTime":1456.189,"endTime":1457.299,"body":"Again, I'm not special."},{"speaker":"David Dodge","startTime":1457.479,"endTime":1460.324,"body":"The only difference between me and"},{"speaker":"David Dodge","startTime":1457.479,"endTime":1460.324,"body":"them is that I know that this that"},{"speaker":"David Dodge","startTime":1460.324,"endTime":1462.641,"body":"this game we play isn't a fair one."},{"speaker":"David Dodge","startTime":1462.701,"endTime":1466.751,"body":"I don't necessarily even agree with it,"},{"speaker":"David Dodge","startTime":1462.701,"endTime":1466.751,"body":"but it's the law and if I don't play by"},{"speaker":"David Dodge","startTime":1466.751,"endTime":1468.371,"body":"these rules, I'm just gonna get robbed."},{"speaker":"David Dodge","startTime":1468.441,"endTime":1470.707,"body":"So I try to play the play by the rule."},{"speaker":"Average Joe Finances","startTime":1470.707,"endTime":1473.871,"body":"That's huge because"},{"speaker":"Average Joe Finances","startTime":1470.707,"endTime":1473.871,"body":"David as you're saying as you said earlier"},{"speaker":"Average Joe Finances","startTime":1473.893,"endTime":1475.553,"body":"you buy real estate and wait, right?"},{"speaker":"Average Joe Finances","startTime":1475.553,"endTime":1478.853,"body":"So you purchase these assets"},{"speaker":"Average Joe Finances","startTime":1475.553,"endTime":1478.853,"body":"and you're holding onto them."},{"speaker":"Average Joe Finances","startTime":1479.093,"endTime":1481.973,"body":"And again, like you said, you're"},{"speaker":"Average Joe Finances","startTime":1479.093,"endTime":1481.973,"body":"able to claim this depreciation"},{"speaker":"Average Joe Finances","startTime":1482.001,"endTime":1482.931,"body":"and other items like that."},{"speaker":"Average Joe Finances","startTime":1483.201,"endTime":1486.029,"body":"And you mentioned something else"},{"speaker":"Average Joe Finances","startTime":1483.201,"endTime":1486.029,"body":"that was even more key, that you're"},{"speaker":"Average Joe Finances","startTime":1486.059,"endTime":1487.199,"body":"a real estate professional, right?"},{"speaker":"Average Joe Finances","startTime":1487.199,"endTime":1491.581,"body":"So as a real estate professional, you"},{"speaker":"Average Joe Finances","startTime":1487.199,"endTime":1491.581,"body":"get to claim more depreciation and"},{"speaker":"Average Joe Finances","startTime":1491.581,"endTime":1493.579,"body":"other things like that for your taxes."},{"speaker":"Average Joe Finances","startTime":1493.579,"endTime":1497.538,"body":"Then, somebody who's working a W2"},{"speaker":"Average Joe Finances","startTime":1493.579,"endTime":1497.538,"body":"job and  going to work every day,"},{"speaker":"Average Joe Finances","startTime":1497.538,"endTime":1502.056,"body":"working their nine to five and having"},{"speaker":"Average Joe Finances","startTime":1497.538,"endTime":1502.056,"body":"to pay, their fair share of taxes."},{"speaker":"Average Joe Finances","startTime":1502.356,"endTime":1506.585,"body":"So it's not about so much learning"},{"speaker":"Average Joe Finances","startTime":1502.356,"endTime":1506.585,"body":"the real estate game, like you were"},{"speaker":"Average Joe Finances","startTime":1506.585,"endTime":1510.155,"body":"saying, it is learning about the"},{"speaker":"Average Joe Finances","startTime":1506.585,"endTime":1510.155,"body":"tax code and it's learning about,"},{"speaker":"Average Joe Finances","startTime":1510.236,"endTime":1515.233,"body":"how to play by the same rules that"},{"speaker":"Average Joe Finances","startTime":1510.236,"endTime":1515.233,"body":"the wealthy and like the 1% play by."},{"speaker":"Average Joe Finances","startTime":1515.233,"endTime":1519.078,"body":"Cause like you said, this opportunity"},{"speaker":"Average Joe Finances","startTime":1515.233,"endTime":1519.078,"body":"is something that everyone here."},{"speaker":"Average Joe Finances","startTime":1519.115,"endTime":1522.535,"body":"In this country has an opportunity"},{"speaker":"Average Joe Finances","startTime":1519.115,"endTime":1522.535,"body":"to benefit from, right?"},{"speaker":"Average Joe Finances","startTime":1522.535,"endTime":1525.47,"body":"We can all sit here and"},{"speaker":"Average Joe Finances","startTime":1522.535,"endTime":1525.47,"body":"invest in real estate."},{"speaker":"Average Joe Finances","startTime":1525.74,"endTime":1527.72,"body":"It's just a matter of how"},{"speaker":"Average Joe Finances","startTime":1525.74,"endTime":1527.72,"body":"you go about doing it."},{"speaker":"Average Joe Finances","startTime":1527.99,"endTime":1531.429,"body":"Now you started off right, You"},{"speaker":"Average Joe Finances","startTime":1527.99,"endTime":1531.429,"body":"were, you borrowed $30,000 to"},{"speaker":"Average Joe Finances","startTime":1531.429,"endTime":1533.589,"body":"get your first property when"},{"speaker":"Average Joe Finances","startTime":1531.429,"endTime":1533.589,"body":"you were house hacking, right?"},{"speaker":"Average Joe Finances","startTime":1533.919,"endTime":1537.671,"body":"And as you were going throughout the time,"},{"speaker":"Average Joe Finances","startTime":1533.919,"endTime":1537.671,"body":"you were, either saving up the money or"},{"speaker":"Average Joe Finances","startTime":1537.671,"endTime":1541.721,"body":"borrowing it to put those down payments"},{"speaker":"Average Joe Finances","startTime":1537.671,"endTime":1541.721,"body":"down and you were paying full market value"},{"speaker":"Average Joe Finances","startTime":1541.721,"endTime":1543.191,"body":"cuz you were finding 'em off the MLS."},{"speaker":"Average Joe Finances","startTime":1543.581,"endTime":1546.461,"body":"And then you got to go to a real estate"},{"speaker":"Average Joe Finances","startTime":1543.581,"endTime":1546.461,"body":"meetup and learn that there's so many"},{"speaker":"Average Joe Finances","startTime":1546.461,"endTime":1549.731,"body":"different ways to do this using OPM right?"},{"speaker":"Average Joe Finances","startTime":1549.736,"endTime":1553.1,"body":"Other people's money and other"},{"speaker":"Average Joe Finances","startTime":1549.736,"endTime":1553.1,"body":"different ways to find these down"},{"speaker":"Average Joe Finances","startTime":1553.1,"endTime":1557.63,"body":"payments to, to make these deals"},{"speaker":"Average Joe Finances","startTime":1553.1,"endTime":1557.63,"body":"happen at a much lower than full"},{"speaker":"Average Joe Finances","startTime":1557.63,"endTime":1560.834,"body":"market value because you're finding"},{"speaker":"Average Joe Finances","startTime":1557.63,"endTime":1560.834,"body":"motivated sellers and things like that."},{"speaker":"Average Joe Finances","startTime":1560.834,"endTime":1562.574,"body":"So off market deals, which is huge."},{"speaker":"David Dodge","startTime":1563.244,"endTime":1564.174,"body":"That's exactly right."},{"speaker":"Average Joe Finances","startTime":1564.304,"endTime":1564.664,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1564.699,"endTime":1569.56,"body":"And now I'm pointing this out because I'm"},{"speaker":"Average Joe Finances","startTime":1564.699,"endTime":1569.56,"body":"talking about the importance of going to"},{"speaker":"Average Joe Finances","startTime":1569.83,"endTime":1574.053,"body":"a real estate meetup and the importance"},{"speaker":"Average Joe Finances","startTime":1569.83,"endTime":1574.053,"body":"of networking and meeting people that are"},{"speaker":"Average Joe Finances","startTime":1574.053,"endTime":1578.095,"body":"like-minded to you, that are trying to do"},{"speaker":"Average Joe Finances","startTime":1574.053,"endTime":1578.095,"body":"better for themselves and thinking bigger."},{"speaker":"Average Joe Finances","startTime":1578.164,"endTime":1581.014,"body":"So it's really important that"},{"speaker":"Average Joe Finances","startTime":1578.164,"endTime":1581.014,"body":"you surround yourself with people"},{"speaker":"Average Joe Finances","startTime":1581.314,"endTime":1582.814,"body":"that are doing these big things."},{"speaker":"Average Joe Finances","startTime":1582.819,"endTime":1586.012,"body":"Cause you know the famous saying that"},{"speaker":"Average Joe Finances","startTime":1582.819,"endTime":1586.012,"body":"you are the average of the top five"},{"speaker":"Average Joe Finances","startTime":1586.017,"endTime":1587.302,"body":"people you hang around with, right?"},{"speaker":"Average Joe Finances","startTime":1587.662,"endTime":1590.632,"body":"So surround yourself with people"},{"speaker":"Average Joe Finances","startTime":1587.662,"endTime":1590.632,"body":"that are doing much better than you"},{"speaker":"Average Joe Finances","startTime":1590.932,"endTime":1593.4,"body":"because guarantee, if you're hanging"},{"speaker":"Average Joe Finances","startTime":1590.932,"endTime":1593.4,"body":"out with five millionaires, you're"},{"speaker":"Average Joe Finances","startTime":1593.4,"endTime":1595.38,"body":"gonna be the sixth one, soon enough."},{"speaker":"David Dodge","startTime":1595.38,"endTime":1595.47,"body":"Yep."},{"speaker":"David Dodge","startTime":1595.47,"endTime":1596.37,"body":"That's exactly right."},{"speaker":"David Dodge","startTime":1596.409,"endTime":1597.319,"body":"That's exactly right."},{"speaker":"David Dodge","startTime":1597.324,"endTime":1598.819,"body":"You're gonna learn those"},{"speaker":"David Dodge","startTime":1597.324,"endTime":1598.819,"body":"things that they're doing."},{"speaker":"Average Joe Finances","startTime":1598.939,"endTime":1599.419,"body":"Exactly."},{"speaker":"Average Joe Finances","startTime":1599.469,"endTime":1604.239,"body":"Now particularly, I want to ask you"},{"speaker":"Average Joe Finances","startTime":1599.469,"endTime":1604.239,"body":"about something because I know you"},{"speaker":"Average Joe Finances","startTime":1604.239,"endTime":1606.599,"body":"said that  your bread and butter has"},{"speaker":"Average Joe Finances","startTime":1604.239,"endTime":1606.599,"body":"been like the BRRRR method, right?"},{"speaker":"Average Joe Finances","startTime":1606.959,"endTime":1610.231,"body":"And you were keeping the best"},{"speaker":"Average Joe Finances","startTime":1606.959,"endTime":1610.231,"body":"and wholesaling the rest."},{"speaker":"Average Joe Finances","startTime":1610.561,"endTime":1613.061,"body":"But now the market is"},{"speaker":"Average Joe Finances","startTime":1610.561,"endTime":1613.061,"body":"starting to shift, right?"},{"speaker":"Average Joe Finances","startTime":1613.831,"endTime":1618.448,"body":"And you're starting to see with these"},{"speaker":"Average Joe Finances","startTime":1613.831,"endTime":1618.448,"body":"interest rates going up, And with the"},{"speaker":"Average Joe Finances","startTime":1618.448,"endTime":1620.157,"body":"home prices are still staying the same."},{"speaker":"Average Joe Finances","startTime":1620.157,"endTime":1621.807,"body":"You don't really see"},{"speaker":"Average Joe Finances","startTime":1620.157,"endTime":1621.807,"body":"them dropping too much."},{"speaker":"Average Joe Finances","startTime":1621.848,"endTime":1625.492,"body":"Maybe they're dipping a little bit,"},{"speaker":"Average Joe Finances","startTime":1621.848,"endTime":1625.492,"body":"but it's not significant to the"},{"speaker":"Average Joe Finances","startTime":1625.492,"endTime":1628.03,"body":"difference that people are paying"},{"speaker":"Average Joe Finances","startTime":1625.492,"endTime":1628.03,"body":"with these higher interest rates."},{"speaker":"Average Joe Finances","startTime":1628.03,"endTime":1631.814,"body":"Do you see that affecting what"},{"speaker":"Average Joe Finances","startTime":1628.03,"endTime":1631.814,"body":"your current strategy is with the"},{"speaker":"Average Joe Finances","startTime":1631.814,"endTime":1635.432,"body":"BRRRR method and flipping versus"},{"speaker":"Average Joe Finances","startTime":1631.814,"endTime":1635.432,"body":"what you're doing a year ago?"},{"speaker":"David Dodge","startTime":1635.476,"endTime":1635.787,"body":"Yeah."},{"speaker":"David Dodge","startTime":1635.844,"endTime":1636.474,"body":"Absolutely."},{"speaker":"David Dodge","startTime":1636.474,"endTime":1638.604,"body":"With me, rates are gonna"},{"speaker":"David Dodge","startTime":1636.474,"endTime":1638.604,"body":"squeeze landlords, they're"},{"speaker":"David Dodge","startTime":1638.604,"endTime":1640.104,"body":"gonna squeeze BRRRR investors."},{"speaker":"David Dodge","startTime":1640.719,"endTime":1644.229,"body":"So the way to counteract it is"},{"speaker":"David Dodge","startTime":1640.719,"endTime":1644.229,"body":"three or four things we can do."},{"speaker":"David Dodge","startTime":1644.229,"endTime":1647.379,"body":"Number one, we can buy better deals,"},{"speaker":"David Dodge","startTime":1644.229,"endTime":1647.379,"body":"get 'em at lower prices to where the"},{"speaker":"David Dodge","startTime":1647.379,"endTime":1650.529,"body":"interest, the higher interest that"},{"speaker":"David Dodge","startTime":1647.379,"endTime":1650.529,"body":"we're gonna pay now versus what we"},{"speaker":"David Dodge","startTime":1650.529,"endTime":1654.249,"body":"would've paid maybe a year ago is"},{"speaker":"David Dodge","startTime":1650.529,"endTime":1654.249,"body":"offset by getting a better deal."},{"speaker":"David Dodge","startTime":1654.309,"endTime":1654.999,"body":"That's number one."},{"speaker":"David Dodge","startTime":1655.028,"endTime":1661.748,"body":"Number two, we can look to buy properties"},{"speaker":"David Dodge","startTime":1655.028,"endTime":1661.748,"body":"subject to and not even need a loan."},{"speaker":"David Dodge","startTime":1661.778,"endTime":1662.828,"body":"We can make the seller."},{"speaker":"David Dodge","startTime":1662.875,"endTime":1666.505,"body":"We can use the seller's existing loan,"},{"speaker":"David Dodge","startTime":1662.875,"endTime":1666.505,"body":"which if it's over a year or two old,"},{"speaker":"David Dodge","startTime":1666.505,"endTime":1667.735,"body":"it's gonna have a pretty good rate."},{"speaker":"David Dodge","startTime":1667.775,"endTime":1668.735,"body":"Typically speaking."},{"speaker":"David Dodge","startTime":1668.791,"endTime":1672.931,"body":"Number three is we can buy properties"},{"speaker":"David Dodge","startTime":1668.791,"endTime":1672.931,"body":"from people that have loans in place"},{"speaker":"David Dodge","startTime":1672.978,"endTime":1674.868,"body":"and we can actually assume the loan."},{"speaker":"David Dodge","startTime":1674.941,"endTime":1678.384,"body":"So subject two is different, that's"},{"speaker":"David Dodge","startTime":1674.941,"endTime":1678.384,"body":"just taking over the payments, and"},{"speaker":"David Dodge","startTime":1678.874,"endTime":1683.357,"body":"maybe you do move the deed, but you're"},{"speaker":"David Dodge","startTime":1678.874,"endTime":1683.357,"body":"essentially, you have the opportunity"},{"speaker":"David Dodge","startTime":1683.357,"endTime":1685.477,"body":"of a due on sale clause being flagged."},{"speaker":"David Dodge","startTime":1685.907,"endTime":1689.757,"body":"Some people will use smoke and mirrors"},{"speaker":"David Dodge","startTime":1685.907,"endTime":1689.757,"body":"and they'll put the entity in the name."},{"speaker":"David Dodge","startTime":1689.786,"endTime":1692.216,"body":"Let's say John Doe owns a property"},{"speaker":"David Dodge","startTime":1689.786,"endTime":1692.216,"body":"that you're buying, they'll do"},{"speaker":"David Dodge","startTime":1692.216,"endTime":1695.87,"body":"John Doe LLC so it doesn't look"},{"speaker":"David Dodge","startTime":1692.216,"endTime":1695.87,"body":"like, you might be the owner of"},{"speaker":"David Dodge","startTime":1695.87,"endTime":1698.48,"body":"John Doe llc, not John Doe, right?"},{"speaker":"David Dodge","startTime":1698.48,"endTime":1700.095,"body":"So there's lots of strategies there."},{"speaker":"David Dodge","startTime":1700.112,"endTime":1704.222,"body":"So obviously better deals,"},{"speaker":"David Dodge","startTime":1700.112,"endTime":1704.222,"body":"number one, creative financing"},{"speaker":"David Dodge","startTime":1704.222,"endTime":1705.512,"body":"and subject two, number two."},{"speaker":"David Dodge","startTime":1705.842,"endTime":1708.326,"body":"But number three is that we"},{"speaker":"David Dodge","startTime":1705.842,"endTime":1708.326,"body":"can actually assume the loan."},{"speaker":"David Dodge","startTime":1708.356,"endTime":1710.686,"body":"We can actually contact the"},{"speaker":"David Dodge","startTime":1708.356,"endTime":1710.686,"body":"mortgage company and say,"},{"speaker":"David Dodge","startTime":1710.686,"endTime":1712.036,"body":"Hey, we're gonna assume it."},{"speaker":"David Dodge","startTime":1712.366,"endTime":1714.738,"body":"We're gonna need to get qualified, and"},{"speaker":"David Dodge","startTime":1712.366,"endTime":1714.738,"body":"they're gonna have to approve us, but"},{"speaker":"David Dodge","startTime":1714.738,"endTime":1719.238,"body":"we can actually take it over subject"},{"speaker":"David Dodge","startTime":1714.738,"endTime":1719.238,"body":"two without it being subject two."},{"speaker":"David Dodge","startTime":1719.298,"endTime":1720.708,"body":"We're gonna assume that loan."},{"speaker":"David Dodge","startTime":1720.708,"endTime":1722.742,"body":"So we're starting to pivot"},{"speaker":"David Dodge","startTime":1720.708,"endTime":1722.742,"body":"into doing some more of those."},{"speaker":"David Dodge","startTime":1723.042,"endTime":1725.652,"body":"I'm not gonna stop buying rentals"},{"speaker":"David Dodge","startTime":1723.042,"endTime":1725.652,"body":"because it goes against the whole"},{"speaker":"David Dodge","startTime":1725.652,"endTime":1729.522,"body":"purpose or the whole, mantra of don't"},{"speaker":"David Dodge","startTime":1725.652,"endTime":1729.522,"body":"wait to buy real estate and wait."},{"speaker":"David Dodge","startTime":1729.882,"endTime":1732.882,"body":"We have pivoted to doing more"},{"speaker":"David Dodge","startTime":1729.882,"endTime":1732.882,"body":"wholesaling over the last few months"},{"speaker":"David Dodge","startTime":1732.882,"endTime":1736.862,"body":"as rates go up and we're definitely"},{"speaker":"David Dodge","startTime":1732.882,"endTime":1736.862,"body":"more selective with, our ARVs and our"},{"speaker":"David Dodge","startTime":1736.922,"endTime":1741.017,"body":"rehab budgets we're definitely being"},{"speaker":"David Dodge","startTime":1736.922,"endTime":1741.017,"body":"much more conservative with both."},{"speaker":"David Dodge","startTime":1741.092,"endTime":1744.432,"body":"But whenever these things"},{"speaker":"David Dodge","startTime":1741.092,"endTime":1744.432,"body":"happen, it also thins the herd."},{"speaker":"David Dodge","startTime":1744.492,"endTime":1749.317,"body":"Inventory's been historically low over"},{"speaker":"David Dodge","startTime":1744.492,"endTime":1749.317,"body":"the last 12 months and it's also, what"},{"speaker":"David Dodge","startTime":1749.322,"endTime":1752.147,"body":"that's done is it's made it a little"},{"speaker":"David Dodge","startTime":1749.322,"endTime":1752.147,"body":"bit more difficult for us to find"},{"speaker":"David Dodge","startTime":1752.152,"endTime":1753.707,"body":"deals, but it also thins the herd."},{"speaker":"David Dodge","startTime":1753.712,"endTime":1755.862,"body":"So it's less people looking"},{"speaker":"David Dodge","startTime":1753.712,"endTime":1755.862,"body":"for 'em at the end of the day."},{"speaker":"David Dodge","startTime":1755.862,"endTime":1757.976,"body":"I don't think that the"},{"speaker":"David Dodge","startTime":1755.862,"endTime":1757.976,"body":"market's gonna tank or crash."},{"speaker":"David Dodge","startTime":1757.976,"endTime":1760.003,"body":"Yeah, we may have a little"},{"speaker":"David Dodge","startTime":1757.976,"endTime":1760.003,"body":"recession but that's healthy."},{"speaker":"David Dodge","startTime":1760.046,"endTime":1761.305,"body":"If we didn't, it would be scary."},{"speaker":"David Dodge","startTime":1761.355,"endTime":1765.665,"body":"And the best money that I've ever"},{"speaker":"David Dodge","startTime":1761.355,"endTime":1765.665,"body":"made in wholesaling or flipping"},{"speaker":"David Dodge","startTime":1766.025,"endTime":1768.455,"body":"has been in recessionary periods."},{"speaker":"David Dodge","startTime":1768.455,"endTime":1771.575,"body":"It's been in markets that have been"},{"speaker":"David Dodge","startTime":1768.455,"endTime":1771.575,"body":"trending down or have been flat."},{"speaker":"David Dodge","startTime":1772.055,"endTime":1773.795,"body":"Not ones that are appreciating."},{"speaker":"David Dodge","startTime":1773.842,"endTime":1777.475,"body":"So there's always gonna be a pro"},{"speaker":"David Dodge","startTime":1773.842,"endTime":1777.475,"body":"and account, But I'm here to stay."},{"speaker":"David Dodge","startTime":1777.475,"endTime":1778.585,"body":"I'm not going away."},{"speaker":"David Dodge","startTime":1778.635,"endTime":1782.691,"body":"Over the last two years I've started"},{"speaker":"David Dodge","startTime":1778.635,"endTime":1782.691,"body":"to migrate from small commercial"},{"speaker":"David Dodge","startTime":1782.691,"endTime":1786.578,"body":"loans with three and five year fixed"},{"speaker":"David Dodge","startTime":1782.691,"endTime":1786.578,"body":"rates to 30 year fixed rates to my"},{"speaker":"David Dodge","startTime":1786.608,"endTime":1789.924,"body":"LLC through some of these hybrid"},{"speaker":"David Dodge","startTime":1786.608,"endTime":1789.924,"body":"lenders where you pay a little bit"},{"speaker":"David Dodge","startTime":1789.924,"endTime":1791.424,"body":"more upfront for the closing costs."},{"speaker":"David Dodge","startTime":1791.424,"endTime":1794.844,"body":"You may have free payment penalties,"},{"speaker":"David Dodge","startTime":1791.424,"endTime":1794.844,"body":"but you can fix a rate  to your entity"},{"speaker":"David Dodge","startTime":1794.888,"endTime":1799.681,"body":"for 25 or 30 years, and I've probably"},{"speaker":"David Dodge","startTime":1794.888,"endTime":1799.681,"body":"gotten, I'd say a third  a little less"},{"speaker":"David Dodge","startTime":1799.681,"endTime":1803.114,"body":"than that, but pretty good, pretty close"},{"speaker":"David Dodge","startTime":1799.681,"endTime":1803.114,"body":"to a third of all my mortgages on 30"},{"speaker":"David Dodge","startTime":1803.114,"endTime":1807.311,"body":"year notes, under four and a half or"},{"speaker":"David Dodge","startTime":1803.114,"endTime":1807.311,"body":"5%, which is good for a commercial loan."},{"speaker":"David Dodge","startTime":1807.348,"endTime":1811.578,"body":"So there's lots of things that I'm doing"},{"speaker":"David Dodge","startTime":1807.348,"endTime":1811.578,"body":"to repair, but what I'm not doing, Mike,"},{"speaker":"David Dodge","startTime":1811.608,"endTime":1816.244,"body":"is slowing down my marketing or stopping"},{"speaker":"David Dodge","startTime":1811.608,"endTime":1816.244,"body":"it, because yeah, we're adding leads"},{"speaker":"David Dodge","startTime":1816.244,"endTime":1817.744,"body":"to the system just like we always have."},{"speaker":"David Dodge","startTime":1817.744,"endTime":1822.574,"body":"But we may be converting less and less of"},{"speaker":"David Dodge","startTime":1817.744,"endTime":1822.574,"body":"there, that's okay because we're getting"},{"speaker":"David Dodge","startTime":1822.574,"endTime":1826.594,"body":"these leads still and we're following up"},{"speaker":"David Dodge","startTime":1822.574,"endTime":1826.594,"body":"with these leads and we're using these"},{"speaker":"David Dodge","startTime":1826.594,"endTime":1830.893,"body":"new creative strategies like assuming"},{"speaker":"David Dodge","startTime":1826.594,"endTime":1830.893,"body":"loans and subject two to be able to still"},{"speaker":"David Dodge","startTime":1830.893,"endTime":1834.913,"body":"get ourself into positions where we can"},{"speaker":"David Dodge","startTime":1830.893,"endTime":1834.913,"body":"make money on deals, we can wholesale"},{"speaker":"David Dodge","startTime":1834.913,"endTime":1838.573,"body":"deals, we can add deals to the portfolio,"},{"speaker":"David Dodge","startTime":1834.913,"endTime":1838.573,"body":"we can fix and flip those deals."},{"speaker":"David Dodge","startTime":1838.783,"endTime":1842.24,"body":"Our buy box has gotten a little bit"},{"speaker":"David Dodge","startTime":1838.783,"endTime":1842.24,"body":"tighter, but it would be foolish of"},{"speaker":"David Dodge","startTime":1842.3,"endTime":1843.767,"body":"if it didn't, that would be loose."},{"speaker":"David Dodge","startTime":1844.099,"endTime":1846.042,"body":"That would be, not very conservative."},{"speaker":"David Dodge","startTime":1846.042,"endTime":1849.679,"body":"And as the economy starts to"},{"speaker":"David Dodge","startTime":1846.042,"endTime":1849.679,"body":"tighten up a little bit, we as"},{"speaker":"David Dodge","startTime":1849.679,"endTime":1851.059,"body":"business owners need to do the same."},{"speaker":"David Dodge","startTime":1851.089,"endTime":1853.768,"body":"So it's only healthy to take a"},{"speaker":"David Dodge","startTime":1851.089,"endTime":1853.768,"body":"look at your books every now and"},{"speaker":"David Dodge","startTime":1853.768,"endTime":1856.545,"body":"then and say, Hey, maybe we need"},{"speaker":"David Dodge","startTime":1853.768,"endTime":1856.545,"body":"to lean this out a little bit."},{"speaker":"David Dodge","startTime":1856.655,"endTime":1858.675,"body":"Maybe we need to slow"},{"speaker":"David Dodge","startTime":1856.655,"endTime":1858.675,"body":"down on this or that."},{"speaker":"David Dodge","startTime":1858.675,"endTime":1859.725,"body":"But don't stop."},{"speaker":"Average Joe Finances","startTime":1860.2,"endTime":1861.58,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":1862.15,"endTime":1862.323,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1862.34,"endTime":1863.09,"body":"Don't stop."},{"speaker":"Average Joe Finances","startTime":1863.09,"endTime":1865.796,"body":"And also one of the things you're talking"},{"speaker":"Average Joe Finances","startTime":1863.09,"endTime":1865.796,"body":"about is you're looking at different"},{"speaker":"Average Joe Finances","startTime":1865.798,"endTime":1869.809,"body":"strategies other creative strategies"},{"speaker":"Average Joe Finances","startTime":1865.798,"endTime":1869.809,"body":"to help these people out that are"},{"speaker":"Average Joe Finances","startTime":1869.857,"endTime":1873.131,"body":"in extra miss and they still have a"},{"speaker":"Average Joe Finances","startTime":1869.857,"endTime":1873.131,"body":"problem that they need to solve, right?"},{"speaker":"Average Joe Finances","startTime":1873.131,"endTime":1875.458,"body":"Which is they need to, sell their home."},{"speaker":"Average Joe Finances","startTime":1875.525,"endTime":1876.817,"body":"They can't make the payment anymore."},{"speaker":"Average Joe Finances","startTime":1876.817,"endTime":1877.528,"body":"Things like that."},{"speaker":"Average Joe Finances","startTime":1877.528,"endTime":1879.371,"body":"You're providing a solution"},{"speaker":"Average Joe Finances","startTime":1877.528,"endTime":1879.371,"body":"to their problem still."},{"speaker":"Average Joe Finances","startTime":1879.371,"endTime":1880.346,"body":"Which is fantastic."},{"speaker":"Average Joe Finances","startTime":1880.346,"endTime":1884.259,"body":"So I think, honestly, David through"},{"speaker":"Average Joe Finances","startTime":1880.346,"endTime":1884.259,"body":"your intro and just a few questions I"},{"speaker":"Average Joe Finances","startTime":1884.259,"endTime":1888.969,"body":"was able to ask, we've really extracted"},{"speaker":"Average Joe Finances","startTime":1884.259,"endTime":1888.969,"body":"so much value out of this interview."},{"speaker":"Average Joe Finances","startTime":1888.969,"endTime":1890.529,"body":"It's been absolutely fantastic."},{"speaker":"Average Joe Finances","startTime":1890.529,"endTime":1891.279,"body":"So I'd like to."},{"speaker":"Average Joe Finances","startTime":1891.604,"endTime":1894.676,"body":"Go ahead and transition this into a"},{"speaker":"Average Joe Finances","startTime":1891.604,"endTime":1894.676,"body":"portion of the podcast that we call the"},{"speaker":"Average Joe Finances","startTime":1894.676,"endTime":1898.8,"body":"Final Round, where I'm gonna ask you four"},{"speaker":"Average Joe Finances","startTime":1894.676,"endTime":1898.8,"body":"hard hitting questions that are going"},{"speaker":"Average Joe Finances","startTime":1898.8,"endTime":1902.956,"body":"to be a testament to who your character"},{"speaker":"Average Joe Finances","startTime":1898.8,"endTime":1902.956,"body":"is, but I think I already know what some"},{"speaker":"Average Joe Finances","startTime":1902.956,"endTime":1906.676,"body":"of these answers are gonna be just from"},{"speaker":"Average Joe Finances","startTime":1902.956,"endTime":1906.676,"body":"having this short conversation with you."},{"speaker":"Average Joe Finances","startTime":1906.681,"endTime":1909.016,"body":"So if you're ready to go,"},{"speaker":"Average Joe Finances","startTime":1906.681,"endTime":1909.016,"body":"we'll get this party started."},{"speaker":"David Dodge","startTime":1910.156,"endTime":1911.056,"body":"I'm ready to rock."},{"speaker":"David Dodge","startTime":1911.056,"endTime":1911.566,"body":"Let's do it."},{"speaker":"Average Joe Finances","startTime":1911.806,"endTime":1912.046,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1912.046,"endTime":1912.376,"body":"Let's do it."},{"speaker":"Average Joe Finances","startTime":1912.376,"endTime":1915.107,"body":"So the first question of the"},{"speaker":"Average Joe Finances","startTime":1912.376,"endTime":1915.107,"body":"final round is, what's the"},{"speaker":"Average Joe Finances","startTime":1915.112,"endTime":1917.047,"body":"biggest mistake you've ever made?"},{"speaker":"David Dodge","startTime":1917.142,"endTime":1920.281,"body":"The biggest mistake I've"},{"speaker":"David Dodge","startTime":1917.142,"endTime":1920.281,"body":"ever made, let's put it this way."},{"speaker":"David Dodge","startTime":1920.281,"endTime":1924.301,"body":"I've done close to a thousand transactions"},{"speaker":"David Dodge","startTime":1920.281,"endTime":1924.301,"body":"and I've only lost money on three deals."},{"speaker":"David Dodge","startTime":1924.308,"endTime":1928.328,"body":"All three of those deals shared"},{"speaker":"David Dodge","startTime":1924.308,"endTime":1928.328,"body":"two common things that I did wrong."},{"speaker":"David Dodge","startTime":1928.478,"endTime":1934.054,"body":"So I would say the biggest mistake"},{"speaker":"David Dodge","startTime":1928.478,"endTime":1934.054,"body":"is A, overestimating my ARV or"},{"speaker":"David Dodge","startTime":1934.124,"endTime":1937.753,"body":"B, underestimating my repairs And"},{"speaker":"David Dodge","startTime":1934.124,"endTime":1937.753,"body":"here's the cool thing you can do."},{"speaker":"David Dodge","startTime":1937.753,"endTime":1940.793,"body":"You can get one of those two"},{"speaker":"David Dodge","startTime":1937.753,"endTime":1940.793,"body":"wrong on a deal and break even,"},{"speaker":"David Dodge","startTime":1940.793,"endTime":1941.903,"body":"or even make some money still."},{"speaker":"David Dodge","startTime":1941.903,"endTime":1944.486,"body":"But when you get both of those two"},{"speaker":"David Dodge","startTime":1941.903,"endTime":1944.486,"body":"things wrong, you're gonna lose money."},{"speaker":"David Dodge","startTime":1944.519,"endTime":1945.689,"body":"So the three times."},{"speaker":"David Dodge","startTime":1946.069,"endTime":1948.899,"body":"Boy I lost money on three"},{"speaker":"David Dodge","startTime":1946.069,"endTime":1948.899,"body":"deals out of about a thousand."},{"speaker":"David Dodge","startTime":1949.319,"endTime":1953.417,"body":"It's pretty good batting average,"},{"speaker":"David Dodge","startTime":1949.319,"endTime":1953.417,"body":"but both times I overestimated my ARV"},{"speaker":"David Dodge","startTime":1954.047,"endTime":1958.58,"body":"while simultaneously underestimating"},{"speaker":"David Dodge","startTime":1954.047,"endTime":1958.58,"body":"my repairs and I got in trouble."},{"speaker":"David Dodge","startTime":1958.58,"endTime":1960.074,"body":"So don't do those two things."},{"speaker":"Average Joe Finances","startTime":1960.087,"endTime":1962.565,"body":"Yeah don't finagle"},{"speaker":"Average Joe Finances","startTime":1960.087,"endTime":1962.565,"body":"the numbers to make it work for you."},{"speaker":"Average Joe Finances","startTime":1962.588,"endTime":1963.823,"body":"Fantastic lesson learned."},{"speaker":"David Dodge","startTime":1964.733,"endTime":1969.083,"body":"You can finagle 'em, but"},{"speaker":"David Dodge","startTime":1964.733,"endTime":1969.083,"body":"don't finagle them out of reality."},{"speaker":"Average Joe Finances","startTime":1969.15,"endTime":1969.437,"body":"Yep."},{"speaker":"Average Joe Finances","startTime":1969.444,"endTime":1973.79,"body":"It's always the things like that happen"},{"speaker":"Average Joe Finances","startTime":1969.444,"endTime":1973.79,"body":"that, you could call it a mistake or"},{"speaker":"Average Joe Finances","startTime":1973.79,"endTime":1976.73,"body":"things like that, but realistically"},{"speaker":"Average Joe Finances","startTime":1973.79,"endTime":1976.73,"body":"you could look at it now and say, Hey,"},{"speaker":"Average Joe Finances","startTime":1976.73,"endTime":1978.32,"body":"it was just an expensive education."},{"speaker":"Average Joe Finances","startTime":1978.387,"endTime":1980.039,"body":"You just paid to learn"},{"speaker":"Average Joe Finances","startTime":1978.387,"endTime":1980.039,"body":"something right there."},{"speaker":"Average Joe Finances","startTime":1980.039,"endTime":1980.441,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1980.501,"endTime":1983.291,"body":"Okay, so the next question to the final"},{"speaker":"Average Joe Finances","startTime":1980.501,"endTime":1983.291,"body":"round is, what is something that you've"},{"speaker":"Average Joe Finances","startTime":1983.291,"endTime":1986.147,"body":"learned that you wish you knew when"},{"speaker":"Average Joe Finances","startTime":1983.291,"endTime":1986.147,"body":"you first started and you touched on"},{"speaker":"Average Joe Finances","startTime":1986.147,"endTime":1989.222,"body":"this already, but just curious to see"},{"speaker":"Average Joe Finances","startTime":1986.147,"endTime":1989.222,"body":"if you have anything different on that."},{"speaker":"David Dodge","startTime":1989.269,"endTime":1991.381,"body":"Yeah, so really I would say,"},{"speaker":"David Dodge","startTime":1991.412,"endTime":1994.082,"body":"Don't wait to buy real estate,"},{"speaker":"David Dodge","startTime":1991.412,"endTime":1994.082,"body":"buy real estate and wait."},{"speaker":"David Dodge","startTime":1994.145,"endTime":1995.135,"body":"That was a big thing."},{"speaker":"David Dodge","startTime":1995.495,"endTime":1997.155,"body":"And I acted on that right away."},{"speaker":"David Dodge","startTime":1997.155,"endTime":2000.645,"body":"But I wish I would've bought more real"},{"speaker":"David Dodge","startTime":1997.155,"endTime":2000.645,"body":"estate at least prior to two years ago"},{"speaker":"David Dodge","startTime":2000.645,"endTime":2003.645,"body":"and held it because we've seen some crazy"},{"speaker":"David Dodge","startTime":2000.645,"endTime":2003.645,"body":"appreciation over the last two years."},{"speaker":"David Dodge","startTime":2004.065,"endTime":2006.01,"body":"Another thing is that I wish"},{"speaker":"David Dodge","startTime":2004.065,"endTime":2006.01,"body":"I learned out the gate that"},{"speaker":"David Dodge","startTime":2006.015,"endTime":2007.24,"body":"this is a marketing business."},{"speaker":"David Dodge","startTime":2007.6,"endTime":2010.384,"body":"It took me 10 years to"},{"speaker":"David Dodge","startTime":2007.6,"endTime":2010.384,"body":"learn that lesson, 10 years."},{"speaker":"David Dodge","startTime":2010.74,"endTime":2014.58,"body":"And then it probably took me another"},{"speaker":"David Dodge","startTime":2010.74,"endTime":2014.58,"body":"one or two years after I went full"},{"speaker":"David Dodge","startTime":2014.58,"endTime":2018.05,"body":"time to learn that the money's made"},{"speaker":"David Dodge","startTime":2014.58,"endTime":2018.05,"body":"when you buy the deal, not when you"},{"speaker":"David Dodge","startTime":2018.05,"endTime":2019.79,"body":"sell it, you get paid when you sell."},{"speaker":"David Dodge","startTime":2019.85,"endTime":2021.95,"body":"That's obvious, but it's"},{"speaker":"David Dodge","startTime":2019.85,"endTime":2021.95,"body":"made when you buy it."},{"speaker":"David Dodge","startTime":2021.95,"endTime":2024.98,"body":"So there's two or three things right"},{"speaker":"David Dodge","startTime":2021.95,"endTime":2024.98,"body":"there, but they all are equally important."},{"speaker":"Average Joe Finances","startTime":2025.035,"endTime":2025.485,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":2025.905,"endTime":2026.205,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":2026.272,"endTime":2029.04,"body":"Great things that, you know,"},{"speaker":"Average Joe Finances","startTime":2026.272,"endTime":2029.04,"body":"great lessons to take moving on."},{"speaker":"Average Joe Finances","startTime":2029.044,"endTime":2032.464,"body":"And for my listeners, this question"},{"speaker":"Average Joe Finances","startTime":2029.044,"endTime":2032.464,"body":"right now is probably the biggest one."},{"speaker":"Average Joe Finances","startTime":2032.824,"endTime":2037.019,"body":"And that's, do you have any tips or"},{"speaker":"Average Joe Finances","startTime":2032.824,"endTime":2037.019,"body":"tricks that you would recommend to someone"},{"speaker":"Average Joe Finances","startTime":2037.019,"endTime":2038.979,"body":"that is just getting started today?"},{"speaker":"David Dodge","startTime":2038.979,"endTime":2040.071,"body":"Yeah, absolutely."},{"speaker":"David Dodge","startTime":2040.071,"endTime":2041.091,"body":"Hire a coach."},{"speaker":"David Dodge","startTime":2041.103,"endTime":2045.226,"body":"There's a lot of people that have"},{"speaker":"David Dodge","startTime":2041.103,"endTime":2045.226,"body":"success on their own, but there's 10"},{"speaker":"David Dodge","startTime":2045.226,"endTime":2049.067,"body":"times as many people that don't and"},{"speaker":"David Dodge","startTime":2045.226,"endTime":2049.067,"body":"they give up and they quit and they"},{"speaker":"David Dodge","startTime":2049.067,"endTime":2051.407,"body":"fail, or at least they do in their eyes."},{"speaker":"David Dodge","startTime":2051.469,"endTime":2057.244,"body":"And the cost of hiring a coach is gonna"},{"speaker":"David Dodge","startTime":2051.469,"endTime":2057.244,"body":"be very small in the big scheme of things."},{"speaker":"David Dodge","startTime":2057.273,"endTime":2063.163,"body":"I know people that say, I hired a coach"},{"speaker":"David Dodge","startTime":2057.273,"endTime":2063.163,"body":"maybe six months ago, $25,000 is what I"},{"speaker":"David Dodge","startTime":2063.323,"endTime":2066.714,"body":"paid him, and he coached me for 60 days."},{"speaker":"David Dodge","startTime":2067.354,"endTime":2068.494,"body":"I think we spoke once a week."},{"speaker":"David Dodge","startTime":2068.494,"endTime":2069.244,"body":"During that time."},{"speaker":"David Dodge","startTime":2069.694,"endTime":2073.052,"body":"We didn't talk that much, but the"},{"speaker":"David Dodge","startTime":2069.694,"endTime":2073.052,"body":"value I received was worth it."},{"speaker":"David Dodge","startTime":2073.081,"endTime":2076.291,"body":"Sometimes people will say, Oh,"},{"speaker":"David Dodge","startTime":2073.081,"endTime":2076.291,"body":"I don't have the three grand or"},{"speaker":"David Dodge","startTime":2076.296,"endTime":2077.851,"body":"the five grand, or the whatever."},{"speaker":"David Dodge","startTime":2077.855,"endTime":2080.935,"body":"Usually you can typically get a"},{"speaker":"David Dodge","startTime":2077.855,"endTime":2080.935,"body":"coach for, less than five or six"},{"speaker":"David Dodge","startTime":2080.935,"endTime":2084.596,"body":"grand, a quality one, and they're"},{"speaker":"David Dodge","startTime":2080.935,"endTime":2084.596,"body":"like, I don't wanna spend that money."},{"speaker":"David Dodge","startTime":2084.596,"endTime":2087.296,"body":"I don't wanna make that"},{"speaker":"David Dodge","startTime":2084.596,"endTime":2087.296,"body":"investment or take that risk."},{"speaker":"David Dodge","startTime":2087.453,"endTime":2091.893,"body":"But if that coach can make 10 extra"},{"speaker":"David Dodge","startTime":2087.453,"endTime":2091.893,"body":"money, a hundred extra money, a thousand"},{"speaker":"David Dodge","startTime":2091.953,"endTime":2097.193,"body":"X, that investment, doesn't it seem"},{"speaker":"David Dodge","startTime":2091.953,"endTime":2097.193,"body":"foolish to not take that investment?"},{"speaker":"David Dodge","startTime":2097.209,"endTime":2098.529,"body":"So here's a perfect example."},{"speaker":"David Dodge","startTime":2098.529,"endTime":2102.099,"body":"When I first started full-time in"},{"speaker":"David Dodge","startTime":2098.529,"endTime":2102.099,"body":"this business eight years ago, even"},{"speaker":"David Dodge","startTime":2102.099,"endTime":2106.339,"body":"though I had 12 rental properties that"},{"speaker":"David Dodge","startTime":2102.099,"endTime":2106.339,"body":"were paying me passively every month"},{"speaker":"David Dodge","startTime":2106.339,"endTime":2108.211,"body":"I had 63 grand of credit card debt."},{"speaker":"David Dodge","startTime":2108.241,"endTime":2111.968,"body":"And I stumbled and chuffed, or,"},{"speaker":"David Dodge","startTime":2108.241,"endTime":2111.968,"body":"I spun my at tires for what I"},{"speaker":"David Dodge","startTime":2111.968,"endTime":2113.198,"body":"say, three and a half months."},{"speaker":"David Dodge","startTime":2113.198,"endTime":2113.918,"body":"That's about right."},{"speaker":"David Dodge","startTime":2113.974,"endTime":2115.024,"body":"And then I hired a coach."},{"speaker":"David Dodge","startTime":2115.029,"endTime":2119.111,"body":"I was 63 grand in debt when I did that"},{"speaker":"David Dodge","startTime":2115.029,"endTime":2119.111,"body":"coach, I think, cost me five grand."},{"speaker":"David Dodge","startTime":2119.501,"endTime":2122.891,"body":"So I went from 63,000 in"},{"speaker":"David Dodge","startTime":2119.501,"endTime":2122.891,"body":"debt to 68,000 in debt."},{"speaker":"David Dodge","startTime":2123.251,"endTime":2127.631,"body":"12 months later, not even,"},{"speaker":"David Dodge","startTime":2123.251,"endTime":2127.631,"body":"probably eight months later,"},{"speaker":"David Dodge","startTime":2128.051,"endTime":2129.191,"body":"I didn't have any debt at all."},{"speaker":"David Dodge","startTime":2129.228,"endTime":2131.808,"body":"That coach helped me, taught me so much."},{"speaker":"David Dodge","startTime":2132.228,"endTime":2137.204,"body":"And sped up that timeframe of failure"},{"speaker":"David Dodge","startTime":2132.228,"endTime":2137.204,"body":"to minimal days and weeks versus"},{"speaker":"David Dodge","startTime":2137.204,"endTime":2138.974,"body":"another three months or six months."},{"speaker":"David Dodge","startTime":2139.424,"endTime":2143.473,"body":"So I would simply say, guys, the"},{"speaker":"David Dodge","startTime":2139.424,"endTime":2143.473,"body":"number one thing I could tell anybody"},{"speaker":"David Dodge","startTime":2143.478,"endTime":2146.583,"body":"and everybody that's, that's looking"},{"speaker":"David Dodge","startTime":2143.478,"endTime":2146.583,"body":"to truly do this, not just dabble,"},{"speaker":"David Dodge","startTime":2147.333,"endTime":2149.49,"body":"jump in, make this a full-time gig."},{"speaker":"David Dodge","startTime":2149.501,"endTime":2152.051,"body":"Maybe you make it a part-time"},{"speaker":"David Dodge","startTime":2149.501,"endTime":2152.051,"body":"gig, that's fine too."},{"speaker":"David Dodge","startTime":2152.161,"endTime":2155.941,"body":"But essentially create passive"},{"speaker":"David Dodge","startTime":2152.161,"endTime":2155.941,"body":"income and achieve financial freedom,"},{"speaker":"David Dodge","startTime":2156.295,"endTime":2157.855,"body":"it's a hard go at it by yourself."},{"speaker":"David Dodge","startTime":2157.855,"endTime":2160.935,"body":"Find a mentor, find a coach, and"},{"speaker":"David Dodge","startTime":2157.855,"endTime":2160.935,"body":"get that guidance that you need to"},{"speaker":"David Dodge","startTime":2160.935,"endTime":2162.055,"body":"get you to where you want to be."},{"speaker":"Average Joe Finances","startTime":2162.545,"endTime":2164.235,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":2162.545,"endTime":2164.235,"body":"David, fantastic point."},{"speaker":"Average Joe Finances","startTime":2164.324,"endTime":2166.839,"body":"I believe in hiring a"},{"speaker":"Average Joe Finances","startTime":2164.324,"endTime":2166.839,"body":"coach and having a mentor."},{"speaker":"Average Joe Finances","startTime":2166.868,"endTime":2169.5,"body":"It's one of those things that, if you"},{"speaker":"Average Joe Finances","startTime":2166.868,"endTime":2169.5,"body":"have somebody that's pushing you and"},{"speaker":"Average Joe Finances","startTime":2169.5,"endTime":2172.804,"body":"driving you it's gonna make you go"},{"speaker":"Average Joe Finances","startTime":2169.5,"endTime":2172.804,"body":"harder cuz  you're not just doing it"},{"speaker":"Average Joe Finances","startTime":2172.804,"endTime":2174.184,"body":"for yourself at this point right now."},{"speaker":"Average Joe Finances","startTime":2174.184,"endTime":2175.869,"body":"You're like, Hey I committed to this."},{"speaker":"Average Joe Finances","startTime":2175.869,"endTime":2179.139,"body":"I spent significant money on"},{"speaker":"Average Joe Finances","startTime":2175.869,"endTime":2179.139,"body":"this, I wanna get that value back."},{"speaker":"Average Joe Finances","startTime":2179.469,"endTime":2182.755,"body":"So when you commit to something like"},{"speaker":"Average Joe Finances","startTime":2179.469,"endTime":2182.755,"body":"that, it's one of those things that"},{"speaker":"Average Joe Finances","startTime":2182.755,"endTime":2185.365,"body":"motivates you to push yourself to"},{"speaker":"Average Joe Finances","startTime":2182.755,"endTime":2185.365,"body":"say, You know what, I don't wanna"},{"speaker":"Average Joe Finances","startTime":2185.365,"endTime":2190.12,"body":"fail because if I fail, that means I"},{"speaker":"Average Joe Finances","startTime":2185.365,"endTime":2190.12,"body":"just, I spent this money for nothing."},{"speaker":"Average Joe Finances","startTime":2190.136,"endTime":2192.426,"body":"So that's definitely a driver,"},{"speaker":"Average Joe Finances","startTime":2190.136,"endTime":2192.426,"body":"definitely a motivator."},{"speaker":"Average Joe Finances","startTime":2192.431,"endTime":2192.731,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":2192.881,"endTime":2196.716,"body":"So I have one final question in the"},{"speaker":"Average Joe Finances","startTime":2192.881,"endTime":2196.716,"body":"final round, and this is besides"},{"speaker":"Average Joe Finances","startTime":2196.716,"endTime":2200.518,"body":"your own do you have a favorite"},{"speaker":"Average Joe Finances","startTime":2196.716,"endTime":2200.518,"body":"business, investing or real estate"},{"speaker":"Average Joe Finances","startTime":2200.518,"endTime":2203.068,"body":"related book or podcast, or both?"},{"speaker":"David Dodge","startTime":2205.078,"endTime":2205.348,"body":"Yeah."},{"speaker":"David Dodge","startTime":2205.408,"endTime":2207.838,"body":"I would say most more so books."},{"speaker":"David Dodge","startTime":2207.93,"endTime":2213.618,"body":"I've read some really good books over"},{"speaker":"David Dodge","startTime":2207.93,"endTime":2213.618,"body":"the last couple of months and I would"},{"speaker":"David Dodge","startTime":2213.637,"endTime":2218.988,"body":"say my top three even would be The Gap"},{"speaker":"David Dodge","startTime":2213.637,"endTime":2218.988,"body":"in the Game and WHO, NOT, HOW, which"},{"speaker":"David Dodge","startTime":2218.993,"endTime":2220.578,"body":"are both written by the same author."},{"speaker":"David Dodge","startTime":2220.597,"endTime":2226.202,"body":"And then the third book would probably"},{"speaker":"David Dodge","startTime":2220.597,"endTime":2226.202,"body":"be I gotta go with Rich Dad, Poor Dad"},{"speaker":"David Dodge","startTime":2226.262,"endTime":2227.582,"body":"cause that's what got me in this game."},{"speaker":"David Dodge","startTime":2228.662,"endTime":2229.502,"body":"Those are great books."},{"speaker":"Average Joe Finances","startTime":2229.712,"endTime":2229.922,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":2229.922,"endTime":2231.122,"body":"Fantastic selection."},{"speaker":"Average Joe Finances","startTime":2231.122,"endTime":2231.932,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":2232.322,"endTime":2235.099,"body":"David so again, like I said earlier,"},{"speaker":"Average Joe Finances","startTime":2232.322,"endTime":2235.099,"body":"before we even started the final"},{"speaker":"Average Joe Finances","startTime":2235.119,"endTime":2238.479,"body":"round, so much value from this"},{"speaker":"Average Joe Finances","startTime":2235.119,"endTime":2238.479,"body":"this short conversation that we"},{"speaker":"Average Joe Finances","startTime":2238.479,"endTime":2239.943,"body":"had it's been absolutely amazing."},{"speaker":"Average Joe Finances","startTime":2239.943,"endTime":2242.263,"body":"I know the people that are listening"},{"speaker":"Average Joe Finances","startTime":2239.943,"endTime":2242.263,"body":"right now, they're saying, Man,"},{"speaker":"Average Joe Finances","startTime":2242.283,"endTime":2244.503,"body":"David's story is really inspirational."},{"speaker":"Average Joe Finances","startTime":2244.567,"endTime":2248.28,"body":"And some of the things that he's"},{"speaker":"Average Joe Finances","startTime":2244.567,"endTime":2248.28,"body":"done, I wanna do myself, so I wanna"},{"speaker":"Average Joe Finances","startTime":2248.28,"endTime":2250.14,"body":"find some more information about him."},{"speaker":"Average Joe Finances","startTime":2250.195,"endTime":2255.295,"body":"So do you have any social media or a"},{"speaker":"Average Joe Finances","startTime":2250.195,"endTime":2255.295,"body":"website you can share with us so that"},{"speaker":"Average Joe Finances","startTime":2255.295,"endTime":2256.575,"body":"we can find more information about you?"},{"speaker":"David Dodge","startTime":2256.665,"endTime":2257.625,"body":"Yeah, I do."},{"speaker":"David Dodge","startTime":2257.625,"endTime":2257.925,"body":"I do."},{"speaker":"David Dodge","startTime":2257.925,"endTime":2259.755,"body":"Mike, thank you so much for offering man."},{"speaker":"David Dodge","startTime":2259.781,"endTime":2260.806,"body":"You can follow me on Instagram."},{"speaker":"David Dodge","startTime":2260.806,"endTime":2263.946,"body":"It's my full name, David Allen Dodge."},{"speaker":"David Dodge","startTime":2264.246,"endTime":2270.176,"body":"That's d a v i d a l a n d o d g e."},{"speaker":"David Dodge","startTime":2270.246,"endTime":2271.496,"body":"That's my Instagram handle."},{"speaker":"David Dodge","startTime":2271.496,"endTime":2272.842,"body":"And then I do offer coaching."},{"speaker":"David Dodge","startTime":2272.871,"endTime":2274.641,"body":"I help people get their first deal."},{"speaker":"David Dodge","startTime":2274.761,"endTime":2276.519,"body":"It's really one of my"},{"speaker":"David Dodge","startTime":2274.761,"endTime":2276.519,"body":"favorite things to do."},{"speaker":"David Dodge","startTime":2276.849,"endTime":2280.089,"body":"In fact, I have a call tonight"},{"speaker":"David Dodge","startTime":2276.849,"endTime":2280.089,"body":"with maybe 20 or 30 students"},{"speaker":"David Dodge","startTime":2280.141,"endTime":2281.421,"body":"and it's a zero to one model."},{"speaker":"David Dodge","startTime":2281.421,"endTime":2283.63,"body":"And I also coach the BRRRR method."},{"speaker":"David Dodge","startTime":2283.65,"endTime":2287.83,"body":"I teach people how to buy rentals, how to"},{"speaker":"David Dodge","startTime":2283.65,"endTime":2287.83,"body":"do with little to no money, how to create"},{"speaker":"David Dodge","startTime":2287.83,"endTime":2289.84,"body":"wealth, how to create passive income."},{"speaker":"David Dodge","startTime":2290.26,"endTime":2296.04,"body":"And you can actually learn about both of"},{"speaker":"David Dodge","startTime":2290.26,"endTime":2296.04,"body":"those programs over on wholesalinginc.com."},{"speaker":"David Dodge","startTime":2296.795,"endTime":2298.945,"body":"If you go to that website,"},{"speaker":"David Dodge","startTime":2296.795,"endTime":2298.945,"body":"you can learn more about it."},{"speaker":"David Dodge","startTime":2298.945,"endTime":2303.273,"body":"You can book a call with our team, and"},{"speaker":"David Dodge","startTime":2298.945,"endTime":2303.273,"body":"you can set up a time to figure out if"},{"speaker":"David Dodge","startTime":2303.273,"endTime":2304.863,"body":"the program's gonna be right for you."},{"speaker":"David Dodge","startTime":2304.916,"endTime":2308.636,"body":"I love helping my students, like every,"},{"speaker":"David Dodge","startTime":2304.916,"endTime":2308.636,"body":"all my students get my cell phone number."},{"speaker":"David Dodge","startTime":2308.966,"endTime":2313.045,"body":"We do one to two weekly group coaching"},{"speaker":"David Dodge","startTime":2308.966,"endTime":2313.045,"body":"calls as a group, and then we typically"},{"speaker":"David Dodge","startTime":2313.05,"endTime":2316.367,"body":"will do another call or so just in"},{"speaker":"David Dodge","startTime":2313.05,"endTime":2316.367,"body":"smaller groups or even more on one."},{"speaker":"David Dodge","startTime":2316.381,"endTime":2318.563,"body":"I give them access to me to"},{"speaker":"David Dodge","startTime":2316.381,"endTime":2318.563,"body":"help with their business."},{"speaker":"David Dodge","startTime":2318.568,"endTime":2320.903,"body":"I give them access to look"},{"speaker":"David Dodge","startTime":2318.568,"endTime":2320.903,"body":"inside of my business."},{"speaker":"David Dodge","startTime":2321.398,"endTime":2324.769,"body":"So I can actually see what it looks"},{"speaker":"David Dodge","startTime":2321.398,"endTime":2324.769,"body":"like to, buy and sell anywhere"},{"speaker":"David Dodge","startTime":2324.769,"endTime":2326.069,"body":"from five to 10 houses a month."},{"speaker":"David Dodge","startTime":2326.076,"endTime":2328.266,"body":"And at the end of the day, my favorite"},{"speaker":"David Dodge","startTime":2326.076,"endTime":2328.266,"body":"thing to do though is to help them"},{"speaker":"David Dodge","startTime":2328.271,"endTime":2331.524,"body":"get that first deal, or in some"},{"speaker":"David Dodge","startTime":2328.271,"endTime":2331.524,"body":"cases, quit that job that they hate."},{"speaker":"David Dodge","startTime":2331.704,"endTime":2332.124,"body":"I love it."},{"speaker":"David Dodge","startTime":2332.124,"endTime":2332.724,"body":"I love helping."},{"speaker":"David Dodge","startTime":2332.724,"endTime":2333.504,"body":"I love giving back."},{"speaker":"David Dodge","startTime":2333.894,"endTime":2338.274,"body":"I love being a mentor to people, and"},{"speaker":"David Dodge","startTime":2333.894,"endTime":2338.274,"body":"I love helping people and coaching"},{"speaker":"David Dodge","startTime":2338.274,"endTime":2341.004,"body":"them and showing them that this"},{"speaker":"David Dodge","startTime":2338.274,"endTime":2341.004,"body":"business doesn't have to be hard."},{"speaker":"David Dodge","startTime":2341.004,"endTime":2343.324,"body":"We can make it really hard if"},{"speaker":"David Dodge","startTime":2341.004,"endTime":2343.324,"body":"you want, but we don't have to."},{"speaker":"David Dodge","startTime":2343.564,"endTime":2344.554,"body":"It can be very simple."},{"speaker":"David Dodge","startTime":2344.612,"endTime":2346.352,"body":"And we don't need to"},{"speaker":"David Dodge","startTime":2344.612,"endTime":2346.352,"body":"get lost in the weeds."},{"speaker":"David Dodge","startTime":2346.352,"endTime":2348.182,"body":"And a lot of people, they come"},{"speaker":"David Dodge","startTime":2346.352,"endTime":2348.182,"body":"to me and they have the worst"},{"speaker":"David Dodge","startTime":2348.182,"endTime":2349.412,"body":"case of analysis paralysis."},{"speaker":"David Dodge","startTime":2349.412,"endTime":2350.522,"body":"They don't know what to do next."},{"speaker":"David Dodge","startTime":2350.566,"endTime":2352.906,"body":"And I'm really good at saying, Hey,"},{"speaker":"David Dodge","startTime":2350.566,"endTime":2352.906,"body":"let's get rid of all this noise and"},{"speaker":"David Dodge","startTime":2352.906,"endTime":2355.126,"body":"all this nonsense and let's just"},{"speaker":"David Dodge","startTime":2352.906,"endTime":2355.126,"body":"focus on these two or three things"},{"speaker":"David Dodge","startTime":2355.126,"endTime":2357.076,"body":"that matter and let's get you a deal."},{"speaker":"David Dodge","startTime":2357.196,"endTime":2361.516,"body":"And I can often get people deals, their"},{"speaker":"David Dodge","startTime":2357.196,"endTime":2361.516,"body":"first deals in less than two months"},{"speaker":"David Dodge","startTime":2362.056,"endTime":2363.196,"body":"if they're willing to put in the work."},{"speaker":"Average Joe Finances","startTime":2363.254,"endTime":2363.824,"body":"Hell yeah."},{"speaker":"Average Joe Finances","startTime":2363.914,"endTime":2364.394,"body":"All right."},{"speaker":"Average Joe Finances","startTime":2364.394,"endTime":2366.432,"body":"Hey, for those of you listening"},{"speaker":"Average Joe Finances","startTime":2364.394,"endTime":2366.432,"body":"that's where you could find"},{"speaker":"Average Joe Finances","startTime":2366.432,"endTime":2369.347,"body":"more information about David and"},{"speaker":"Average Joe Finances","startTime":2366.432,"endTime":2369.347,"body":"everything that he's got going on."},{"speaker":"Average Joe Finances","startTime":2369.617,"endTime":2373.817,"body":"Go follow him on Instagram, go visit his"},{"speaker":"Average Joe Finances","startTime":2369.617,"endTime":2373.817,"body":"website, check out his coaching program."},{"speaker":"Average Joe Finances","startTime":2373.817,"endTime":2377.117,"body":"If you don't have a coach, hey, he might"},{"speaker":"Average Joe Finances","startTime":2373.817,"endTime":2377.117,"body":"be a good one for you to check out to"},{"speaker":"Average Joe Finances","startTime":2377.117,"endTime":2380.558,"body":"get your first deal, especially if you're"},{"speaker":"Average Joe Finances","startTime":2377.117,"endTime":2380.558,"body":"looking to get your first deal right now."},{"speaker":"Average Joe Finances","startTime":2380.558,"endTime":2383.231,"body":"David super awesome having"},{"speaker":"Average Joe Finances","startTime":2380.558,"endTime":2383.231,"body":"you on the show with me."},{"speaker":"Average Joe Finances","startTime":2383.231,"endTime":2384.941,"body":"Thank you so much for joining me today."},{"speaker":"Average Joe Finances","startTime":2385.151,"endTime":2386.471,"body":"This was truly a blast."},{"speaker":"David Dodge","startTime":2386.505,"endTime":2387.255,"body":"Awesome, Mike."},{"speaker":"David Dodge","startTime":2387.255,"endTime":2388.23,"body":"Thanks for having me."},{"speaker":"David Dodge","startTime":2388.6,"endTime":2392.062,"body":"I look forward to doing more of these"},{"speaker":"David Dodge","startTime":2388.6,"endTime":2392.062,"body":"with you down the road and again, I really"},{"speaker":"David Dodge","startTime":2392.062,"endTime":2395.362,"body":"appreciate you having me on the show today"},{"speaker":"David Dodge","startTime":2392.062,"endTime":2395.362,"body":"to provide some value to your audience."},{"speaker":"Average Joe Finances","startTime":2395.422,"endTime":2396.112,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":2396.112,"endTime":2397.162,"body":"Aloha from Hawaii."}]}