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Carlos Reyes, a true “serial entrepreneur,” knows a thing or two when it comes to successfully getting a business off the ground.

In this podcast, Carlos shares his incredible life story of being born into poverty in Mexico, and how his mother’s dedication and strong work ethic allowed her to immigrate to California with her two young sons.

Even though the road to a better life was extremely rough and full of adversity, she never gave up – and her determination inspired Carlos to work equally hard.

Carlos also explains his career path – from success in the corporate world to flipping cars to investing in real estate. Despite being in Phoenix, a highly competitive real estate market, he found his path – and became successful.

Within the span of a few short years, Carlos expanded his investing business to new markets across the country – and he explains how his careful research contributed to his ability to successfully grow in new markets.

And, to top it all off, Carlos expounds on a few of his other companies and professional pursuits, which have allowed him to diversify his entrepreneurial ventures.

With 26+ businesses under his belt, Carlos’ story is one of inspiration and motivation for any real estate investor, entrepreneur, or business owner – and I know you’ll find it to be very valuable for your own business goals.

Watch and Learn:

Listen and learn:

What’s inside:

  • Guest Carlos Reyes shares his story of humble beginnings and how he worked his way toward financial success.
  • Carlos provides tips for expanding into new real estate markets.
  • An entrepreneur at heart, Carlos shares more details on his other businesses and pursuits.
  • Carlos shares his real estate investing strategy and his plans for the future.

Mentioned in this episode:


Download episode transcript in PDF format here…

Joe: Hey, everybody, how you doing? Joe McCall. I'm with…

Joe: Hey everybody, welcome. This is a Real Estate Investing Mastery podcast. Glad you're here. We've got a really good guest today on, his name is Carlos Reyes and you've known him, you've seen him, you heard of him. He's everywhere right now on social media. And I'm honored to finally get him here on the show. I've been… we're both real busy. He's especially busy. And so, I said, I finally got ahold of him and I said, let's get you on the podcast and talk about real estate. One of the coolest things you're going to learn about Carlos is he's an entrepreneur at heart doing a ton of real estate deals. But he doesn't have all his eggs in one basket. And that's one of the things I want to talk to him about. Cause he's got a lot of experience in business and in running different businesses in different industries. So, we're gonna be talking a little bit about that as well. And a couple of things I want to tell you guys, if you don't have my book yet, I don't know what's wrong. Wholesaling Lease Options. This is my book. You can get it for free. Just go to WLObook.com and I'll get this book to you for free. Just pay a little bit of shipping and handling and I'll send it out to you. The other thing I want to tell you, a lot of you guys have been asking about, I get messages all the time about how we do lease options and different strategies that we use to flip lease options. And so, I want to encourage you to go get my, watch my masterclass. I just did a new webinar last week and I called it How To Buy A House For $10 And Use That House To Pay Off All Your College Student Loans. And it was pretty cool.

Joe: Something I've been thinking a lot about lately is how just one lease option deal, just one lease option deal will give you enough cashflow that, okay, let me rewind a little bit. The average college student, former college student has over $25,000 in student loan debt. Okay. And their monthly payments are over $280 a month on average. Right. And if you total in the average credit card debt, which is about five or six grand, the total payments… Carlos looks like he's back here.

Carlos: How's it going?

Joe: Carlos! There he is. Cool. I was just talking about my webinar at SLOclass.com. Did you know, Carlos, right now people have on average about $25,000 in student loan debts, right? And about $5,000 to $6,000 in credit card debts that just revolves every single month. The thing I love about this business man, just one deal can wipe out all of your student loan debt and wipe out all of your credit card debt. Just one deal. And it's just one of the reasons why I love this business, right?

Carlos: One deal can change your entire life.

Joe: Oh, for sure. It certainly can. So, if you guys want to watch my class, it's free. Go to SLOclass.com. SLOclass.com. All right, so, Carlos is in the house? From Phoenix, Arizona, right?

Carlos: Yes sir. That's where our headquarters are. I'm right here in our headquarters right now.

Joe: Nice. Se, look at Carlos, man. He's looks professional. He's in his office. I'm in my home office with a tee shirt and a hat that says smoke. Which by the way, I don't smoke. This is a barbecue joint in Dallas Fort Worth. Carlos… You got to go there. It's just called Smoke, next to DFW.

Carlos: I'm there very often so I may have to try them. I always go to, what's that very popular one there right by the Cowboys stadium?

Joe: Oh, I don't know. The only other barbecue place I know in Dallas is near the Stockyards.

Carlos: I've been up, I've been up to the Stockyards before too. I watched the, I go to Billy Bob's. You go to Billy Bob's?

Joe: Yeah, I have a long time ago.

Carlos: Billy Bob's is great, man. They got pool tables, they got rodeo. They got, you know, freaking honky-tonk. They got all kinds of stuff.

Joe: All right, so here we are guys. Carlos… If you've not heard of Carlos, I'm going to ask him to introduce himself to you here. He's been in the business not that long, but he is one of the biggest wholesalers in the country right now and doing a ton of deals. And how many different markets are you in right now, Carlos?

Carlos: Twelve different markets.

Joe: Nice.

Carlos: Unfortunately, by the way,

Joe: Unfortunately?

Carlos: Unfortunately, by the way. We're trying to pull out of some and we'll get into that, you know, average deal size, things like that. You know, the amount of resources that we spend and yeah, we're going to get really heavy, dive heavy into the numbers. Look, I've got, I've got some… Check out these numbers. Look at, look at these numbers. Look, there's these numbers everywhere. Look, quarter one, quarter two, right? Like we're all about numbers. Look at this. I've got all my numbers right here.

Carlos: I'll give you an example. This was as of quarter three when September started. You're going to find this a little sickening when I tell you this. All right, you ready? Cause I found that very sick man too. So, year to date up until September… cause now we're in October. Up until September, the total marketing expenses were $876,150.16. So, if you calculate that up until September, we've been spending $97,350 a month in marketing costs every single month. You know, when we started this four years ago, our budget was $500 a month.

Joe: That's a good thing though, right? Because I've always said this, we're not in the real estate investing business. We're in the marketing business, right? If you want to make a lot of money in business, you've got to invest a lot of money, time, resources, talent into marketing and learn how to generate leads. And you're a master at that.

Joe: Carlos, you've been doing these all-in mastermind meetings where people come and I have heard about you about two years ago. Carlos, you were doing these events in Phoenix, like five grand to come in and spend a couple of days with you and your team in a small group. And people just relieving those meetings like on cloud nine because of the amount of information they got from you guys. We have a mutual friend, Gavin Timms and he was going to those, telling me about these things. But let's rewind a little bit. Carlos, you've got a really cool story of how… Talk about your parents. It's a gut-wrenching story, but it gives people a lot of context of kind of where you've came from. This is good.

Carlos: So, you know, as far as my parents go, and you know, I was born in Mexico, I was born in Sonora, Mexico. It's a Northern part of Mexico, which, you know, thank God man. Like, I live in the greatest country on earth now. You know, it took my mother a very long time to get me first what's called naturalized and then I became a citizen in 2012. But that was a very long process.

Carlos: So, my mom was a, you know, she, in Mexico, we were born into, I mean, I'll be honest with you, man, 99% of people in Mexico are pretty damn poor. We were born into poverty, extreme poverty, and, you know, it was there like, literally like where I live, there was dirt roads and the freaking houses were made out of like, almost cardboard material, you know, like, at that point it was, it wasn't abnormal, right? It was the norm, right? It was like, Oh, this is, I guess this is what everybody's into. Everybody lives in this kind of environment. So, it wasn't really abnormal. And then, you know, my, my mom is wanting a better life for us. My dad used to be very mentally, emotionally and physically abusive to my mom. And my mom was like, you know what? I can't do this. I gotta get myself out of this situation and I gotta get my sons out of this environment and situation. There is no future here. So, she made the trek, she made the journey to California, and she worked there as a fieldworker. She left me and my brother behind with my grandmother for a year. So, that was very hard on me, you know, being a child and not having my mom with me, you know, wondering like, why, you know, as a kid, you don't know any better.

Carlos: You're like, why did you leave? You know, what did I do? You know, where is she at? And she would, I didn't know that bigger, you know, I didn't know that greater purpose. I didn't, how can you really look at the bigger picture when you're a kid? Right? Even if your grandma explains to you, you know, Hey, you know, your mom loves you and she's going to be back, she's just trying to make a better life for you and your brother. You know what I mean? So, you can't really make a five-year-old understand that. So, okay.

Carlos: So, she goes on and she starts working in the fields and she gets what's called amnesty. So, she became legal through amnesty in the late eighties, early nineties. Because she was a field worker in California. And her number one priority was to get me and my brother, you know, out of Mexico. And you know, she worked her ass off. She worked her butt off, worked two jobs, got me and my brother over into California. And then, you know, that that didn't go too well. We only lasted probably two years before… We just couldn't make it, you know, California is very expensive.

Carlos: So, we went, you know, we failed economically there in California. Went back to Sonora, Mexico. Now you know, her and I kind of tag team. I'm doing door to door freaking sales, bread, like I'm selling bread door to door.

Joe: How old were you?

Carlos: This was probably around was probably around seven years old. And then I'm doing that. And then I'm also, I've even put up pictures of me bagging groceries. You know, I was a grocery bagger at a retail store called La Ley which is like a Walmart. It's owned by Chinese folks down there. And so I started, you know, I knew English, so I positioned myself by the resorts and I would bag groceries and then I would bag it, I would put it in a car and I would take it out to the parking lot. And then, you know, it was time, you know, all right, give me a tip, right?

Carlos: So, me and my mother, she was working at the resorts in San Carlos Bay and I was doing the grocery thing and I was doing the door to door thing with the bread. And then we saved up enough money to send her to Phoenix and she came to Phoenix. She started working at the airport and you know, and then she saved up enough money. You know, there's the… because we can… I mean, there's so many details. I'm going to cut it short. She brought me over first before she brought my brother over and her and I, we used to, we used to live in a two-bedroom apartment with like 12 other people and her and I used to sleep in the hallway. So, people, you know, walk over us at six in the morning when they're getting ready. And it was a typical immigrant story, man. And, it wasn't easy.

Carlos: It was very, very hard. It was very, very, very, very hard. But you know what, we kept fighting through it. Then we brought my brother over and you know, she was working two jobs, $8.25 an hour at the airport, $7 an hour at the cafeteria at an elementary school. And then, it was, you know, her and I just started grinding. I was always the man of the house, you know, so I kind of got my hustle and my work ethic from her, from seeing her just do this day in, day out, you know, seven days a week. And that's where I got a lot on my hustle. And a lot of the good qualities that I have is from my mother. And you know, we just, it's, it's your typical kind of underdog story.

Carlos: You know, in California, before we moved back, we lived under a freaking tree for two days because we didn't have the money. You know, it was, I'm not going to… I didn't have much of a childhood man; I didn't have of a childhood. And now I have two children of my own. I have a seven-year-old daughter, I have a one-year old daughter and I'm trying to do my absolute best to give them, to provide for them and give them a childhood. Something that I didn't have, you know? And it wasn't my mother's fault, it was just, just the cards that we were dealt. You know, I can't blame my mother. I can't blame society. I can't blame God, you know, because I feel like adversity is what got me to where I am today.

Joe: Adversity. What's that saying? Your mess becomes your testimony or is it, your mess becomes your message? Is that the way it is?

Carlos: Yeah, so, you know, I always say this, I always say that adversity was my X factor. Everybody has an X factor. Right. And I feel like adversity was my X factor and like that, you know, that old saying goes: calm waters never made a good sailor. Right? So, my waters were stormy for most of my life.

Joe: Oh man. And how's your mom doing now? She's still around?

Carlos: She's living the life. Thank God. She's doing good. You know, I bought her a car. I take care of everything, she has absolutely no bills, no bills. I'm in the process of buying her own home. She lives in the East wing of our house cause our house is 4,500 square feet now. So, she lives on one side of the house. And I barely even see her. I saw her this morning, you know, saw her this morning and she was helping us with some laundry and things like that. But she's pretty much retired. Thank God. Thank God.

Joe: Okay. Good for her. You know, I was thinking about, you're talking about where you were raised and I was raised in a house like this. See that trailer? That was me, right? I'm that kid right there, my dad was a janitor, but still, and this was in Edmonton, Alberta. And this thing got really cold in the wintertime, but still, I grew up in a trailer. I was white trailer trash and I didn't know I was poor. Right. I thought this was normal. I thought everybody lived like this. And still after hearing your story, I still was way better off than you were. I mean, it's just…

Carlos: Well, you had two cars, so that's a start. But you know what, that's amazing. And so, you, you kind of went through some of this stuff we went through when wintertime came around, we really had no heating system. So, you can literally do the, and like, you can see your breath, you know, during the winters, you know what I mean? And we would warm up water to take, you know, somewhat of a warm shower, you know, so I'm totally with you, man. Like everybody has their own story and you know what, no one can take away where you come from and where you are now, because look how far you've come from where you started. You know, I mean, we all start differently, you know, we all start differently. My start was, might've been a little lower, but, you know, we both did what we had to do with what we had.

Joe: I thank God for our parents too. I know you've talked, you've talked a lot in your social media before about the rough life your mother had. And it's heart wrenching, man. One of my best friends when I grew up in San Diego was from Mexico. His name was Henry. And, I don't think to this day, I've never met a harder working mother than his mother. It almost brings tears to my eyes thinking about it. I mean, she had four kids, you know, no dad. And, the way she, how hard she worked to provide for her three or four kids and it was like six people in a two-bedroom apartment, maybe seven.

Joe: But yeah, I mean she always had food on the table for her kids, you know, she always made sure they had warm clothes. They had the, they got to school and don't ever mess… Well, what did he call her? I forget the nickname that he had for her, but never mess with her because man, if you didn't hit into a schoolwork, if you didn't do the dishes, if he didn't brush his teeth and brush and comb his hair, he was in big, big trouble. Right. And, he grew into a success. He's got his own business now doing really, really well.

Carlos: But yeah, that's, you know, what, whether we want to accept it or not, our parents play a huge, huge role in what we become. Right. Like, you know, he saw his mother struggle, but he saw his mother's work ethic. I saw my mom struggle and I saw her work ethic and I saw that she never gave up. I'm like, how the hell does this lady like, you know, like she doesn't speak a lick of English, you know, how the hell does she not give up? Like she just keeps going and going and going and to us it's like, for me it was, it's easy for me, even though it was hard, it's a lot easier than when, how she had it, you know, it's a lot easier than what she had it. And I feel like we get a lot of our either work ethic or qualities or personality traits from our parents in some way, shape or form.

Joe: Yeah. That's good. That's good. Okay, so how did you get into real estate? What were you doing when you turned…? When you're done with school or when you started getting, joining the workforce?

Carlos: Yeah. So, I joined the work force straight out of high school, you know, straight out of high school. You know, I had no choice, man, like bills needed to get paid at home. And you know, I started at, you know, making $10.25 cents an hour. I was a shift manager and I was working for this company and you know, this company, it was kind of on the corporate structure. I started as a 17-year-old there and I didn't really, well, you know, I was at that point I was, I think I considered myself an entrepreneur, right? An entrepreneur.

Carlos: And I started climbing very, very fast. And you know what, I became the, they call it, I was the youngest, retail branch manager to ever exist with this company. It was called cm retail management and I was a 19-year-old branch manager. So, a lot of my people skills and my development, my development capacity as far as personnel goes, it came from the corporate structure, you know? And that's why like we, you know, we, for the most part, we normally have a massive team and we develop a really good team and, you know, we have really good onboarding processes for them. And you know, a lot of us don't understand this, right?

Carlos: Even though we may not be where we want to be when we're in corporate, in a corporate structure or the nine to five, right? We may complain and there's more to life than this. I can do better. But little do we know that we're getting all these skills from these different experiences and jobs. You know, that like, how would I, would I ever see that far past my current situation that I'm like, Oh my God, I'm developing management skills because one day I may have a company of my own and I'm going to have to hire and develop, you know, people within my organization?

Carlos: Like, no, I wasn't thinking about that at the time, you know? But I've always been very thankful and grateful for everything, man. Like, you know, just having a job, you know, it was a milestone for me to make more than my mom. You know, when I got started making $10.25 an hour, I came home when I got my first check and I, you know, I was very, I showed it to her. I'm like, look mom, I'm making $10.25 an hour, you know? And she was so happy for me because she never made more than $8.25 an hour, you know? So, that was a milestone. Now our parents want us to do better than, you know, them, right? So, that was a milestone for me.

Joe: One day your kids are going to come to you and show you a check that's more than what you're making now. How cool is that?

Carlos: God willing, God, God willing and, and you know what? But I'm also programming them that it's not all about the checks and the money. It's about being happy. It's about being fulfilled. It's about living a life with purpose. You know, my seven year old, like I talk to her every morning, I drop her off at school every single morning and if we're not listening to like our church music, our Christian music, we're going back and forth and we're talking life and we're talking perspective and we're talking programming because you know what, she may not have that X factor as far as the adversity that I had, but she's going to have programming. That's something I didn't really have. Right?

Carlos: So, I'm trying to, you know, I'm trying to raise her with whatever tools I've been given. You know, she may not have adversity so I'm like, okay, well she's not really going to have to go through, you know, all the shit that I had to go through. But I somehow got to prepare this young person, this child to be successful in life. So, I got to start programming here. I got to start giving her knowledge, knowledge that wasn't given to me at her age. So, we all, you know, we all do it differently, right. But back to the whole corporate structure thing, you know, I worked in corporate America for 14 years, man.

Joe: Wow. That long. I didn't know it was that long.

Carlos: Well, I started working at a very young age. I'm 34, I'm 34 now and I started working at a very, very young age and it's all I knew and but I was an entrepreneur by heart and I always had an itch to grow and grow and grow and grow. So, I was doing things on the side always, you know, like, you know, flipping cars, flipping clothes, whatever I can get my hands on, you know, make connections, whatever on the side because it just wasn't enough for me. It wasn't so much the money. It was the fulfillment part. The growth part.

Joe: Good. All right. So, how'd you find out about real estate and when did you meet your partners Sal and Alex? What was the timeline of all that?

Carlos: Well in the real estate, with our real estate organization, my business partner is Sal. Alex has his own company. It's called Home Offer… homeoffer.com. Right. He has his own company. He's a one man show and he has his own company. But me and Sal, we're partners with National Cash Offer and offerkey.com. So that's, we have our organization, totally separate, he has a different office across the hallway. What we do together is the Olin entrepreneurs’ stuff, the podcast and the education and stuff like that. But Sal and I, we met in 2013 and we became just really like best friends, you know, we became brothers. We had so much in common. We know… Oh, there's Sal there! You want to say what's up to Joe McCall?

Sal: Mr. Joe McCall!

Joe: Sal, how you doing?

Sal: I heard so many good things about you.

Joe: I can't wait to meet you guys. It's an honor.

Sal: Likewise, likewise.

Carlos: So, anyway, I met him in 2013, became best friends with him. And then, you know, we became really good friends first. We didn't do any business first, then we started doing a little business, you know, he was already flipping cars. He had just opened up this small little retail shop of cars.

Carlos: How many cars we think you had on that lot? 24 cars on that lot, right? Used cars. And, you know, he liked my work ethic. He liked the way I, you know, the way I did things. I liked the way he did things. And then, in 2015, late, like, literally, really late 2015, we were like, look, man, we gotta do something, man. We got to do something together. Let's do something. And we're like, what should we do, you know, carwash, coffee shop. What else were we thinking about? Car wash, coffee shops. I'm not gonna say that.

Carlos: So, yeah, we thought of all kinds of different business ventures. And then I, you know, I was like, look, you know, I've always wanted to do real estate. You know, I've always wanted to do real estate and you know, you were like, well, what do you know about real estate? I said, not much. Give me some time. Started studying, you know, Nick Reese off of Home, Flipping, Sean Terry Flip2Freedom, right? I started just going in on all their stuff, free webinars, Flip2Freedom events. You know, I just started just, you know how it is man, when you're just going like, you become obsessed, right? You know what I was gifted, I could say… I don't want to say lucky enough, but I was gifted by God to just become…

Carlos: I have this obsessive personality, right? It's a big personality. Now once I grab onto something, I just, I go, go, go, go, go, go, go. And I can't get enough. Right? So, that's what happened. I became obsessed. And then Sal, you know, I brought some stuff over to Sal and Sal became obsessed. And then, you know, we, we, we really, we technically really launched in 2016, which was three years and you know, a little bit over three and a half years for sure.

Carlos: And then, you know, we just, the rest is history. We started grinding, man. We started doing everything and anything that we could to get our first deal. And it took us six months to land our first deal, six months.

Joe: And you were doing this in Phoenix?

Carlos: Phoenix, Arizona. Man, it was super competitive. You got all the educators and gurus here,  you know, you got, you got the Sean Terry's of the world. You got the Cody Sperber's of the world. You have everybody, this is like the guru capitol of the world. Phoenix, Arizona.

Joe: You got Dean Graziosi also.

Carlos: Dean Graziosi is here. You know everybody's here.

Joe: That's crazy. So, you chose, and even back then in 2016, Phoenix was still very, very competitive back then. And so why did you decide Phoenix and looking back, would you have done it differently?

Carlos: Well, I mean, I didn't know any better. I didn't know, I didn't know… That was our backyard. I didn't know what virtual wholesaling was right. So, it was, what was it? I heard something this morning. It was called unconsciousness incompetence. It was my, it was our incompetence that led us to start doing this. But, our first market was Las Vegas, Nevada. Right? We were like, okay, Phoenix is great. Phoenix is great. And you know, we did some bandit signs and landed our first deal, made $5,000, put that back into mail marketing. Believe it or not, mail marketing was sitting pretty strong back then. We did mail marketingwith another company. What is Jerry's company called? Highest cash offer? Jennifer Dallas, right?

Carlos: So, we said, Hey, you know, we're scared to spend money on marketing. You're scared to spend money on marketing. Let's put a $2,500 campaign together. $1,250 here, $1,250 there. What was that… 5,000 pieces of mail? Maybe 5,000, I don't know, but we made like, we made, or actually, no, we grossed $60k our first campaign. So, $30k their way, $30k our way. Let's do it again. We were still very scared to market. $1250 there, $1250 here and gross $30K again. And then after that we were like, okay guys, you guys do your thing, we do ours. This marketing thing seems to work. And then you guys, let's just go our separate ways. So, excellent. So, yeah,

Joe: That was 2016, you're now doing deals in Phoenix and you're doing just a lot of direct mail. One of the things that you're known for are your KPIs, you and Sal, when you do your live events, you're about the numbers, which I love. We saw in your window…

Carlos: It will absolutely work. I mean, this is all we do all day, every day, you know, all day, every day we are about, we are about the numbers. I can tell you, you know, how much we've spent into a particular market and what marketing avenue and how much money we got back as far as ROI and things like that. So, we're very strong. We weren't, by the way, the first two years we were flying completely blind. It's just, this started in January of 2019 when we hired a CFO, we started digging really deep. We were, we were kind of already, you know, trying to dig, but we just didn't have the knowledge to really dig deep like we do now with our CFO. I mean, she's taken what, three days, four days now working from home just to get our QuickBooks right?

Sal: So, we had some piles.

Carlos: Yeah. So, you know, we're heavy now… We're really heavy into every single number in our organization because we like to look at our company now in black and white. Like, okay, this works. This doesn't. Data data data, right? So, we spent, you know, $864,000, like I said earlier, and in marketing, let me go back, $876,150.16, you know, and brought back five x. OK, we're, we're, we're good.

Carlos: We're not at our goal. Our goal this year was seven mil. We're not going to hit, we're not going to hit it. It's unrealistic to say we're going to hit it, but you know what? We know what we have to tweak, where we have to, you know, put the volume down and put the volume up. We know if it's the personnel side because they're not converting, you know, the leads to conversion ratio isn't happening or the marketing isn't giving back the response rate or you know, or things like that. We know every single moving part now, or at least we like to think that we know because of our KPIs.

Joe: All right. Somebody told me one time, I'm in a mastermind that I was in that if you don't know your numbers, you don't have a real business. And I was doing over seven figures a year thinking, what do you mean I don't have a real business? But he was absolutely right, you know, because I was just, I was just 45 to 60 days away from bankruptcy. Right? If you don't know your numbers, you don't have a real business. Brandon, Brandon is saying here, “Your KPIs were a game changer for us.” Totally.


Carlos: Yeah. So, if you don't, if you don't know your numbers, it's going to be very difficult to scale it. You know, to the scale it the right way its… If you're one of those guys and, 90% of people out there and nine out of 10 people are doing it this way—we did it this way, you did it this way: “Well I see… you know, I see money leave but I've seen more money come in so I think I'm doing okay”. A lot of people are doing their… that's the way they're flying in and you know what, at some point it's going to be a really harsh reality because how do you know what marketing avenue to pull out for them? How do you know which one to turn it up on? I didn't know which market, you know which market, you know Dallas, Fort Worth, San Antonio, Vegas, wherever… how do you know which market to turn it down in or completely pull out. You know, like you're never, you're not going to know these things if you're not keeping track… you're just not.

Joe: How many different markets are you in now? About a dozen… Is that what you said? And how did you pick those markets? What made you decide, you know what, let's go bigger.

Carlos: Yeah, we always run specific, you know, specific data that we kind of have our process of like, okay, this is what's going to make us go into this market, right? We look at small things and just to keep it very, very vague, we look at things like, okay, what are, you know, how many cash transactions in that market? What are the average days on the market in that specific market? What else do we look at? So, we look at specific, like average medium sales, home sales, price in that market. What are the things can you think of when we run our data and we run some of these things through like Infusionsoft, what's the other zip code data that we provide? We do Zip Codes To Go. So, we look at so many different factors before we pull the trigger on the market. You know what I mean?

Carlos: It's not like, oh look, you know, New York seems to be fine. I would never do business in New York to be quite honest with you. You know, we look at different things. You know, we look at some of those factors and then that's how we pull the trigger and say, you know what? This is a market worth digging into. We texted, we just hired a data scientist too, and that's going to be extremely, extremely helpful. Believe it or not, we haven't had a data scientist this far. And if you're doing seven figures in your business a year, eight figures, I mean, the goal is for everybody to do eight figures, right? You definitely need to hire a data scientist. How much, what are we paying this data scientist?

Sal: I don't know, I have two of them… let me look at this proposal. There are different proposals…

Carlos: It's gonna run you anywhere from like $20 or 30 bucks an hour. But that's where, or more, but it's worth it because you know what? Now you can take a look at all your deals and then create almost a target audience for your marketing too.

Joe: At least a fractional CFO. You know, somebody that can help you with these, coming up with the numbers and interpreting them all.

Carlos: That's not a nonnegotiable. If you're doing seven figures a year, you need to hire a CFO. That's a nonnegotiable because that's how you're going to be able to get all these, you know, like this is, she put this together for us. Last week there was a marketing, you know, marketing meeting. She gave us every single, you know, every single quarter three… This is all quarter three there, you know, a quarter, quarter two closed, you know, all quarter two, like every single market, every single number. You know what I mean?

Carlos: So, I mean, yeah, San Antonio, Dallas, Fort Worth, California markets, Vegas markets, Henderson, Ohio. So, we were, I mean, she gives us everything. If you're doing seven figures, you have to hire a CFO for sure.

Joe: Excellent. What are some of your favorite marketing channels for lead gen that are working for you today?

Carlos: So, for the longest time in this order, this is what it was, it was PaperClick, magnusdigital.com, magnusdigital.com. PaperClick for the longest time, PaperClick took our business from being a mom and pop shop to being an actual player in the game. Okay. PaperClick. Second was direct mail and third was cold calling. But right now it's cold calling, PaperClick and then direct mail. We use turboletters.com through direct mail and we use the Google postcard version one and version two of the Google postcard. They both have had a really good response rate and our ROI on that is, it actually went from 10 to eight but eight is still a good ROI for mail. But yeah, but again, cold calling. We use callgeeks.com callgeeks.com… Cold calling English speakers’ level five. So, cold calling, pay per click, and then direct mail. But it used to be pay-per-click, direct mail and cold calling. So, you know how it is. The market is constantly evolving. It's constantly changing and that's why you gotta keep an eye on your numbers to know where to prioritize and move.

Joe: Good. You've got some other businesses, Carlos, that you run as well. Would you mind talking about some of the other things that you're doing in addition to the real estate?

Carlos: For sure. So, we have a solar company, it's called Solar Fuse, solarfuse.com. We launched that business… When did we launch that business, Sal?

Sal: We're going to two months in like less than a week.

Carlos: So, it's going to be two months now, but it's already going to net a good amount of money. Our goal for the, our three-year projectory is at the three-year mark we want to be producing 5 million gross for that company, but it's already doing pretty well. Thank God. And you know, what's really been helping that company, the way that we market with real estate is the way that we're marketing through the solar company. You know, it's crazy. It's crazy. It's like plug and play. You know?

Joe: That's why I love this. You know, we're not real estate investors that do marketing. We're marketers that do real estate investing. Once you learn how to do marketing, you can run this in any kind of business. Any business.

Carlos: Yeah. So, our solar company has taken off. We have National Medical Surplus. That company does about $4.2 gross. So, that company is a distribution company for, you know, after market medical supplies that's doing extremely well. We have inventorycity.com that's an import export company. And you know, that's the only company that's been losing, that we've lost money in. But Sal's telling me that we're going to turn around very soon. But that's an import export company from China that we run.

Carlos: We do a lot of technological parts like, what do we do there…? Like the LCD screens for phones, you know, like iPhones, things like that. Massive, massive units of that. We're going into the CBD kind of realm, with Inventory City. So, we do that. We have digital marketing companies. We have, what else can you think of, Sal, that's very, very productive for us? Well, I already told about the medical company that's doing, that's doing pretty well. Investorautomation.com. That's a very good… That company there is, it's a Podio, but Podio on steroids.

Sal: Well, your KPIs are all there, too.

Carlos: Yeah. Your KPIs are on investorautomation.com. You're Podio for investors, you know that way you can actually scale your business… It's called The Hercules'. It's a Podio that's structured for investors to actually grow companies, scale companies, not just like one person or two people. You know what I mean? So, it's all across the board for sure.

Joe: Cool. Talk about, have you got a few more minutes here, Carlos? Talk about these events that you do. How many times a year do you do them?

Carlos: It's only twice a year. See, we're not, we're not really educators, right? We're just guys that like, our passion is business. That's our passion. Our passion is business. So, we're not really educators. Now, do we know how to throw these events? Yeah, we went to an event. We had a really bad taste in our mouth. We paid $3,000 and we just had a really bad taste in our mouth. We came back and were like, you know what guys? We gotta do something. We have a really bad taste in our mouth… let's do something. Boom, we throw our first event in June. It was a success. We threw another event in September of 2018 it was success and then we threw, this is called Momentum, by the way, attendmomentum.com.

Carlos: This is your kind of higher scale entrepreneur. Like I want to go from a real estate hustler slash entrepreneur to a CEO. I want to actually build and scale. Thank you, by the way. I want to actually build a company and you know actually create a well-oiled machine so that I can take some days off. I can live somewhat of a life with some, you know, with time freedom, not just financial freedom, but the freedom of time where I can take my family out somewhere for a week or two. And, the well-oiled machine is still pumping deals. You know, we actually teach you this stuff at Momentum; from your hiring process to, you know, your pay structure for all your positions and things like that. So, it's a very amazing event.

Joe: You don't keep… You keep these small, too. They're not like 500 people.

Carlos: No, no, no. This isn't a growth conference, guys. This is a mastermind. We kind of keep it to a hundred, 150 max. We're not looking… This is a thing like, we're not looking to, to like, you know, be like, you know, like cloud chasers, you know. Like we want to have all our two-day hot seat events have always been very personal. Yeah, it's all about, so if someone's looking for like a rah rah event, they gotta go to another event because our event is like, it's 20 hours, you know, 10 hours and 10 hours of just straight like, Oh my God, you know, just writing, writing, writing, writing. You know, it's amazing. It's like the, it's like the Harvard of real estate.

Joe: I love it. Yeah. I tell people too, listen. If you want inspiration, go watch Tony Robbins on YouTube or someone's story. He's got a lot of it. Okay, so you given a lot of links and notes. I just wanna let everybody know that if you go to the podcast website, realestateinvestingmastery.com, you can get all the show notes of this podcast and you can actually see the transcript of everything. Carlos, what's the best way for people to get ahold of you? Can they just follow you on Instagram?

Carlos: My Instagram account is “Official Carlos Reyes”. And then, and then I also have, I'm also on Facebook. I'm on, I'm almost at that capacity. You know, the 5,000 friends capacity on Facebook, which is stupid. So, I do have a business page there too, Carlos Reyes. And then on YouTube I'm Official Carlos Reyes also, I'm very responsive on, even though I have freaking 249,000 followers on there, thank God, you know, through, cause we've been pumping money into this thing. We've been pumping continents in this thing, as you can see.

Carlos: So, it hasn't been easy to grow this thing, but it's grown over the past three years. But I'm still very, very responsive. And you, you know, you and I actually first made contact through there. I'm very responsive on social media. I try to, I try to be as helpful as I can. Like people ask me like, hey man, I got this deal. What do I do? And then I just boom, I try to, you know, I, I learned that from like Gary V and Sean Terry, that you should always, always, always respond to your audience.

Joe: That's very good. And Carlos is very entertaining and engaging on Instagram. I don't, I don't watch many people on the IG, but when I do, I see Carlos.

Carlos: Thank you… I so appreciate you. Thank you.

Joe: I appreciate you and Sal. Thank you, Sal, for everything you guys are doing over there and we'll meet soon.

Carlos: We gotta meet soon in person. By the way, I'm a St Louis Cardinals fan myself.

Joe: And I'm not wearing my Cardinals hat!

Carlos: I know. And it goes all the way back to the Mark McGuire days. That was my favorite.

Joe: Really?

Carlos: Yup. Growing up, I wore number 25. I was a first baseman. I'm six two, 240 pounds, so I'm a pretty big boy, you know. So, Mark McGuire was my guy. That was my favorite guy.

Joe: I knew there was something else I liked about you.

Carlos: Thank you.

Joe: All right. Yeah. There we go. All right. Again guys, get the show notes. Go to realestateinvestingmastery.com. Check out their event, attendmomentum.com, attendmomentum.com.

Joe: At some point, if you don't mind, I got to have you on our podcast and talk, you know, creative financing.

Joe: Let's do it.

Carlos: I tell people you're the creative financing king, so we'll fly you in, we'll take care of you and everything will be good. We'll go, you know, we'll go on live and everything and we'll teach people some creative financing.

Joe: All right, man. We gotta go. Thank you, Carlos.

Carlos: Thank you, brother. God bless you.

Joe: All right. Bye bye.

Carlos: Yes, sir.


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