Roadmap to $1M Net Worth & Trent’s $10K House Hack

Real estate looks interesting. Everybody that owns real estate's rich. How do I break it? Road map to a million dollar net worth before the age of 30. I think you could get there in 5 years. Three good years doing that. One year. Possible. Welcome back to another Boys Only of the Roots podcast. A little postmortem from our last episode we posted last week with Trent Kester as the guest, the star of the show. Um, we wanted to take time because I think Trent's story is so impactful to kind of like untangle what Tyler and I took away from the conversation. So often we do these podcasts, we post and there's the the behem behemoth Rex Fisher that has 350 doors and it's like you're processing it as an audience. I think it'd be really cool to actually get inside of Tyler's eyes head to be like, wait, how did that conversation impact you guys as I think we're at um candidly a lower skill level than a Rex Fisher where we can bring it back to the ground. But I want to know what did uh what did Trent say that stuck out to you that's like a highlight that made the most impact? Right. Um, I think Trent's kind of like a mini version of us. Like not mini, but a a kind of a look in the mirror for us. And I think the biggest thing is when you and I bought our house, it was it was before 2023 or whenever I think he bought in 2023. Um, it was easier, the prices were less. Um, the cost of entry was lower, and yet he was able to find a way with very little resources. He had 10k, less money than we had. Less money than we had. Got his first house hack. Uh, got in Riverside. It's classy, upand cominging neighborhood, not necessarily the star-studded streets of Indie, right? And I think it was uh finding the uh way to make that happen and leaning heavily on the network that was budding to unlock that early on is the main takeaway. Just kind of like a primer for like, hey, I have not that much money. I want to get into real estate. I'm flexible on where I want to live. I'll go to the the house and the the beater house and fix it up myself. It's kind of what he did. Yeah. He made it happen and he bet on himself and now he's having a pretty good career as a very young real estate agent. Right. I think when you are able to jump out of the plane without a parachute and go after something, it's it's uh good things come from it. And that's definitely what he did. The coolest thing for me was listening to a past client of yours go through their story uh and the success that rippled from it. Mhm. Um, maybe take this a little bit more of a spiritual direction. Trent went to work one day, was shining a glass, you know, nice barback, painted a good picture for us. Uh, interrupts two people talking that become mentors of him in real estate. He starts getting connected, starts going to Bigger Pockets, looking for resources, wanting to buy this house, meets Tyler, who then Tyler trans transactionally helps him buy the house, follows up, has a nice closing gift, brings me along with him to go and meet Trent that you had just closed. You got him like a nice $100 gift Lowe's gift card. By the way, very similar time to when I just met Tyler and was following Tyler around like a lost puppy learning how to become a real estate agent myself. I think it was right after that. Literally right after that. Yeah. You have this $100 Lowe's gift card, this little picture, hand made picture of the house, and you're like, "Here you go, buddy. Congrats on closing." I was like, "Oh, dude, you just bought a house." And like started talking to him. Uh, and naturally he started to network, right? And there are things that happened that put Trent being like the keystone agent for roots really being the person that like for us and scale we've realized that oh we've got something brewing here. Not only is our branding sick but and the people come out and everybody comes to masterclass but like that can only go so far as Max and Tyler as an agent, right? we have to have more and have abundance. And Trent has been the key that has unlocked that door coupled with us and and leadership, which all resulted from like just one guy jumping out of high or jumping out of college going, "Huh, I hate school and real estate looks interesting. Everybody that owns real estate's rich. How do I break in?" Um, and and for me, I want to be the cornerstone where people can call to when that question pops into your head, right? For me, it was me mowing the grass and I'm like, how? I was mowing lawns. Like, that was my high school Like, I could buy five lawn mowers and have five guys mowing. Why am I on the mower? Right? How do I become rich? How do I become an entrepreneur? Stumbling into a bigger pocket or some sort of source like that in Indie. I want to be that guy that people will call to. Um, you have a road map to million dollars that got brought up in the episode. I want to wrap this piece with that. Tell me more about that vision that you have. It's it's the road map to the first million at a high level. We don't have to go deep. I know that we'll do a full like probably hourong podcast on this, but you like flirted with it and I want the clip. Yeah. No road map to a million dollars net worth before age of 30. as I was reflecting on we're we're sitting here talking non-stop about real estate and this and helocks and and stacking equity and I was like what is in a nutshell what we're talking about like what are what are we talking about building financial wealth and we talk about building social wealth and family wealth and spiritual wealth a lot too but in the financial realm we're talking about building your net worth which is built through assets it's not built through um uh monthly cash flow way of looking at life. It's it's acquiring assets that work for you when you're sleeping. And so here's the runway, the three-step runway to getting to a million dollars of net worth before the age of 30. Uh which is one is education networking. I need a better way to package that up, but it's it's the the networking tree. It's find the nearest person to you that's a business owner, succeeding person that owns a lot of real estate, has a good portfolio, the one you have a relational connection with. I don't care if they're they're on the path and maybe they're they're not the uh Hormosi or the Grant Cardone yet. Like it's the Maxmore. Go have coffee with them, right? And soak up, sit their feet, say, "Hey, I'm looking to take the steps you've taken, right? like uh give them a little vanity, blow a little sunshine up their shorts, give them a little vanity uh so that they take the meeting and they always will. And then uh ask at the end of that, hey, who are three people I would hit it off with that are one step ahead of me, two steps ahead of me. Go meet with those people. Do that a 100 times. Do 100 of those networking tree have to. And by number one, by the end of that, you'll already be different. that habit of just like meeting with others, that exchange of value, building your network with others that are doing uh starting up earlier to be able to be ready for startation so that you start listening to podcast. Yep. Ask them what resource what's the biggest book uh what's the biggest podcast podcast episode. Just take the resources apply and start consuming them. That's going to shape you. But then back to the steps, steps two is house hack. And Trent, that's why I love that episode with Trent. It it was really a deep dive into how to house hack frugally. I don't know how else to say it. Um it was a a barbback. I mean, dude had 10K and had to like drag a tenant to closing to be like, I can pay the freaking mortgage next month. I didn't think he would close and I was his real estate. I I thought this was a Hail Mary of a situation, but it's house hack. So, one, get a duplex, rent out the other side, have that cover your mortgage or part of your mortgage payment, or do what we all did. Neither none of us got a multif family. We all had a single family. So, buy the single family uh that cosmetically is just a piece of crap. All sweat equity value ad. Yeah. And buy that. Buy the worst house on in the best street in a in a solid neighborhood. Yeah. I mean, house hack is a great place to look to house hack right now in a single family. There's so many houses that could be just Danville. I still believe in SRO just north of 38th Fairgrounds. So many neighborhoods. Uh and then lastly, and this is going to come after you have built a track record of owning your own first investment property, Houseack, is learn to leverage outside capital, which that doesn't mean go file with the SEC and open a um you know, a REIT or uh you know, go do a syndication. It means, hey, your parents have money, your grandparents have money, your uncle has money. Yeah. Show them what you're doing with the house hack and how they can unlock ownership in real estate. So that's leveraging equity through creative deals or we've we've had episodes with Addison. It's uh private money. Yeah. So leveraging private money notes. Hey, two years 10% pay it at the end. Maybe you pay it annually, whatever that looks like. Make sure the numbers make sense. Is it hard? Yeah. It's not going to be easy to leverage other people's money and still make something. However, it's like a bond that's maturing and paying itself off is what that is, right? And then in two years, 3 years, four years, that's your asset essentially is how you have to really think about those two setups. Yeah. You do those three steps, do them very well, you can get to a million dollars of net worth before the age of 30. Easy. Easy. Or if you're over 30, I don't care right now. I mean it it could I think you could get there in 5 years. Yeah. Maybe even less than going down that path which is crazy. Yeah. Three three good years doing that. One possible. One 6 months coffee meetings, six months house hack, two years leverage people's money. And for me it was Adam Turner at GNC riding in that guy's pocket telling him that I had the entrepreneurial bug and like platforming me to take the next step where got bumped, bruised and learned a bunch of lessons. And then it was meeting you, Rex Fischer, also who uh just harped on coffee meetings like these guys are drinking a lot of coffee and I still haven't drank a cup in my life, but I've sat in a lot of coffee shops. Um and and uh now it's time to leverage your money, so hit me up so I can buy some more. Oh, you have? I mean, you've had partners. I have partners. What do you think is the most realistic way because some people are going to listen to this and I know we're gonna probably wrap this episode up here, but what is the lowest hanging fruit to leverage other people's capital and the way that I can wrap my head around, you know, quickly versus I need to go take a course and commercial real estate to understand it or something. Yeah. Uh provide value to somebody who already has interest in the thing that you're trying to provide value in, I think, is a way that I frame that up. I can't I can't call on somebody who could give two craps less about real estate and say invest with me at this rate of return. It doesn't matter what rate of return or shiny object you're putting in front of them. If they don't care, they don't care, right? Uh Addison says something that I mean it's just rich dad poor dad, right? But it's talk to rich dads. Talk to people that have the growth mindset. Uh and you will find where there's some money hanging. I know that's a little ethereal, but it's what I found at least if I try to open Pandora's box with somebody who doesn't even like care about it. Why would they care? Yeah. The thing I'll mention is mine found me, a guy who I had built a relationship with. Um, his name is Corey was like, "Hey, I want to partner. I want to buy, you know, a duplex, buy a investment property in Indianapolis." And we didn't even talk about the finances of who's paying what until like we were under contract, which is like hellaciously bad preparation. Yeah. But Corey has a better deal than honestly anybody else in the world when it comes to real estate investing. Oh, he doesn't do a he doesn't even look at literally wrote on coattails. literally send him a dividend after we sold the last one and we're buying this new group duplex with the funds from that and he funded uh about 80% of the capital required to buy that first one. Just kind of a handshake deal. Didn't even get an operating agreement. We did all the wrong things and kind of stumbled into that first investment. And people probably wondered how did this guy was just a teacher buy this $300,000 quad. I it wasn't my all my money. Right. Right. just had the willingness to go learn and um play the value role which is the sweat equity partner and then there's the financial uh capital partner. Once you understand the vocabulary and those roles, it unlocks a playground a wide world for you in real estate. Doesn't mean you have can't you can just go buy anything, right? You still have to make good deals and find good deals. All that fires me up to go and make a million bucks before I'm 30, dude. Uh, and if it fires you up too, I think this is all just what Trent's story was, tactfully. So, if you've listened to the 20 minutes, you definitely are going to enjoy the 60 minutes that Trent has. Um, we look forward to seeing you at our next master class August 8th. Sign up in the link below. Peace.