Growing Your Business And Moving To The Next Level of Real Estate Investing with Zack Boothe

Zack Boothe was a window washer at 17. He has window cleaning tutorial videos on YouTube with millions of views. Although he achieved success with his window cleaning business, he always dreamt of being a real estate investor. Taking a leap of faith, he walked away from window cleaning, and within a handful of years, he was making over a million dollars per year from real estate investing. He and his team now spend much of the time giving back as much as they can to help others get started in their company in the competitive game of real estate.

Zack Boothe has done over 300 real estate deals and has generated millions. Over the years he made a lot of mistakes and has learned a lot of lessons (sometimes the hard way), and built a dream real estate business.

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Brett:

I’m excited about our next guest. Just a few years ago, he was a window cleaner. You can even find his window cleaning tutorial videos on YouTube with millions of views. Although he achieved success with his window cleaning business, he always dreamt of being a real estate investor. Taking a leap of faith, he walked away from window cleaning, and within a handful of years, he was making over a million dollars per year from real estate investing. He and his team now spend much of the time giving back as much as they can to help others get started in their company in the competitive game of real estate. Please welcome to the show with me, from Utah, Zack Boothe. Zack, how are you doing?

Zack:

Good, man. Thanks for having me, Brett.

Brett:

Excited to have you and to dive into some of this wisdom and the secrets that you figured out by the way is actually this really cool thing going on 40k in 40 days, he flew to Tampa folks, and he is looking at ways to help you build real estate, but he’s doing it in a brand new market. We’re gonna talk about that. A little plug for that. But in the meantime, Zack, let’s start out, first of all, getting to know you a little bit more. Would you tell us a little bit about your story and your current focus?

Zack:

Yeah, so like you said in the intro, I was a window washer, I started that actually when I was 17 ran that for nearly a decade. It was an awesome experience. I learned a lot about business. I made a lot of mistakes. I bought a duplex though clear back in about 2011. And living in one half renting the other half. And I was like, man, I need more of this. Like this is amazing. Just the one tenant was paying the mortgage, and then some. And it’s like, man, I need more rentals, I need to do more of this. And the problem is that I had at that point, the obstacle I found was my debt to income ratio was somewhat of a problem. Because I was trying to write off as much as I could in my business, right. And then the other issue was down payments, they wanted 25, 30% down for a second investment property. And so I was so I started like, strategizing like, we’ll buy this one, we’ll fix it up, we’ll refinance money out and we’ll move into another one. And I did that a couple of times. But it was hard on my wife and like, I was really struggling to have success and I tried flipping a house and that was a nightmare. I hate flipping I hate dealing with contractors I lost money. I was there Christmas Eve morning working on it. I mean, it was a nightmare. I hated flipping houses. I hated the business model I was so nervous of like, I have to have the equity of this house stay the same or go up. I can’t open up a wall and have a can of worms like there was just so many variables that make it so it was unsuccessful and so I wanted to get into it, but I didn’t necessarily know how other than borrowing money from people and I started looking at doing multifamily syndications and, and different ways that I could get into it. And then I learned about something called Real Estate Wholesaling, where you specialize in finding off-market discounted properties. So you find a seller that wants speed and convenience, the property’s a thorn in their side, and you negotiate directly with that seller. So you could get the properties under contract and assign that contract to the different investor and get an assignment fee. And that’s what I do. I do a lot of those. And I consistently make well over $20,000 a deal. And there are zero risks. It’s very fast. But my favorite part of Real Estate Wholesaling is I basically created a business that consistently provides investment opportunities for investors. So I have this machine that’s producing investment opportunity. So all I have to do is go, I don’t want that one. I don’t want that one. That’s an amazing deal. That’s a seller finance deal. That’s an amazing rental that cash flows, like that, is exactly what I want for my own portfolio. And I keep it right. And so I’ve been able to create wealth, long-term wealth, short-term wealth, cash flow, and have a team that does all of the negotiations. The acquisition manager in the office next to me is a negotiated close to $2 million in assignment fees and just a few years with me.

Brett:

So amazing. We’re gonna dive into all of those secrets. But you know, I believe we’ve all been given certain unique gifts in this life, Zack. Some people call them superpowers. Some people call them strengths. I believe their God-given gifts and these gifts have been given to us to be a blessing and a help to others. So I’m curious, what are those one or two gifts that you believe you were given? And how do those help how you help people today?

Zack:

I was just reading the book called Rocket Fuel. And it talks about the personality type of a visionary. As I was reading it, I was like, that’s my problem. That’s what’s wrong with me. Ever since I was a young man, I’ve had this fire and determination, and competitiveness in wanting to succeed. And it’s allowed me to think critically and look long term towards what I want, and be able to structure my life to what I want. I didn’t fall into the trap of living my life, living paycheck to paycheck. What I remember was the young man, I’d come home from school or my dad had come home from work a little later, and I say “Dad, how was work?” And he’d say, “Son, they don’t pay you because you enjoy your job”. That kind of stuck with me. I remember thinking at a very young age, I mean, very young I remember thinking, I will enjoy my job, I will enjoy working. I don’t want to live if I don’t enjoy day-to-day, and I’ve been able to structure a life that’s full of exactly what I want to do. I do what I want to do every single day.

Brett:

That is beautiful. By the way, you can learn more about Zack Boothe at dfdmastery.com. So Zack, let’s dive right into mastering the I guess the art and science of real estate wholesaling and kind of moving your business or growing your business to the next level with real estate investing. So, you define wholesaling as an opportunity to directly contact sellers or deal with sellers and then try to make a deal. folks that are looking to perhaps sell quickly, don’t want to list it, you want to go for the pain of all of that. But that can be and then you assign the contract to somebody and then they take the deal and they close the deal. Is that a fair summary?

Zack:

Fair summary. 100%.

Brett:

Excellent. So, what’s the number one secret to contacting sellers directly and saying, don’t use a broker? Don’t get multiple offers, don’t drive up the price. What’s that number one secret to overcoming that objection?

Zack:

Yeah, so the first the number one thing is you don’t convince someone of that. The goal is to find the person that wants that. So you might be saying, in this market that doesn’t exist, though that cannot happen. Right? People don’t sell their house for 50 cents on the dollar, you may be a complete skeptic, that that’s even possible. I used to be I completely understand where you’re coming from. That’s why I did the 40 Day Challenge, which I’m sure we’ll talk about. But what happened in my life is I was washing windows. And I had heard about wholesaling. I’ve even paid for a coach and it didn’t work out very well. It was a lot of information, a lot of overwhelming. I don’t want to get too far into that. But I was a skeptic at some point, too, that you could find off-market discounted properties. And I was washing windows for a very, very wealthy real estate developer. He was a civil engineer, a young man, and retired in his early 30s or late 20s. I can’t remember at this point. But he was very successful. He had a couple of multimillion dollar development projects, and washing windows in his giant mansion, beautiful home, just the nicest most gentle human being too and I got talking to him. And so interested because I wanted to get into real estate. And I was asked him how he did it. What uh, you know what advice he had for me and what he had going on. And I, at the end of the conversation, I was like, man, if I could just pick up two rentals this year, I would be so excited. And he said, Oh, that’s very convenient. I’ve got these two properties I don’t want to deal with haven’t been over there and a couple of years. I’m sure they have deferred maintenance. The property manager bailed on me four months ago, I haven’t collected rents that need to be dealt with. I just don’t want to deal with them. I don’t have time to deal with them. I don’t really even care. Do you want them? I said, Sure. He said, I said how much he said a half a million, which was a fat discount, by the way, like, they’re probably worth $750,000. And so he’s going to give him to me seller finance, he only wanted a couple $1,000 down because that’s all I had to give him. So I mean, I got these properties at a very low interest rate, after renting them out, I was making about $850 a month extra. And that’s paying a property management company. It was just an incredible deal. And I ended up selling those properties a couple of years later to the tenants and making well over $100,000 profit on those deals. And so when I found that seller, I realized that you have to find someone that doesn’t want to deal with the properties. I didn’t convince him. I didn’t have the skill set to convince him I didn’t have the experience to convince him right. He had more experience, more money, more resources. He worked with me because he liked me and because it was convenient for him.

Brett:

Yeah, go from washing windows, you must wash a heck of a window man, you must seem to build a good relationship right and at the same time, you’re solving his problem right at the heart of it. He was ready to be done. So you build up some trust, some rapport, and then made a deal. And Is that a fair summary?

Zack:

Yes.

Brett:

That’s awesome. Okay, cool. So, in other words, you must like attract, you don’t necessarily go get it. In the sense of, you’re going to find somebody who’s already motivated and who has a need, and perhaps that’s with direct marketing, perhaps that’s with cold calling, perhaps that’s with networking. What’s the next best step to getting started today in wholesaling?

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