Whether it’s a traditional real estate team, an investment portfolio or a fulfilling life - building anything great is a process of constantly asking ourselves big questions and challenging whatever we believe. It’s really easy to copycat our way to success until we find ourselves up the wrong mountain. The only way to combat this is to take everything we believe and pierce holes in it - play devil’s advocate to our own beliefs, if you will. 

 

Our business might be good now, but what if changing the model and our identity could make it better? Flipping homes sounds sexy, but it’s actually not investing. The market is tough right now, but what if getting a tiny bit better, or even staying the same is a sign that we’re crushing it? 

 

When you get really good at asking these questions, and become okay with being wrong about what you believe, pivoting and moving through changes gets easier and faster. When we get clear on what we truly want, and lose the fear of going after something completely different, we’re able to build something we’ll be proud of today and years from now. 

 

What kind of questions should we be asking ourselves all the time? How can we walk through chaos without it impacting us? 

 

Today, I’m joined by friend, collaborator, coach, trainer, and CEO of Guaranteed Home Buyers LLC, Matt Chick. We talk about the ultimate cheat code to make anything happen. 

 

Quotes 

 

Our model has changed many times over the years. We’ve never been afraid to go after something completely different to what we’ve been doing. -Kevin Kauffman 

 

One of the great things about this industry is it’s easy to copycat and find success if you’re willing to put in the work, but that’s also a curse. -Kevin Kauffman 

 

In my hierarchy of what I need from my business, time is number 1, money is number 2 and I'm very clear on that. Of course I want to make money, but time is first. -Kevin Kauffman 

 

Running flips is not an investment, it’s a business. -Kevin Kauffman 

 

I’m a big proponent of taking my active income, no matter where it comes from and using it to create my residual income by buying assets. -Kevin Kauffman

 

If you can walk through chaos and not experience it, you can print money. -Kevin Kauffman 

 

Look at real estate investments through 3 lenses. Cash-flow, future appreciation, and taxes. -Kevin Kauffman 

 

Flipping is just a business, just like wholesales and commissions from transactions. It’s how we create active income, the passive income is the true investing. -Matt Chick  

 

As your portfolio grows, your reserves have to grow too. -Kevin Kauffman 

 

Key Points  

 

Redefining success in a tough market 

There’s a lot of people we know who won’t be surviving this market, or even this calendar year. That means crushing it looks different to what it looked like 3 years ago, 2 years ago - even a year ago. There’s a certain level of business maturity you’ve got to have to realize that sometimes not going backwards or only going backwards a little bit is actually a win when people are going backwards a lot. 

 

Poke holes in your deeply-held beliefs 

Question everything you think you’re right about, and assume what you’re currently doing is wrong. Take every belief and try to see the opposite of it. Even if something is working, ask yourself if it might be preventing you from getting the results you really want. With anything you believe, ask: “is this really my opinion or am I repeating something I heard?”

 

Not afraid to be wrong 

No one is a perfectionist, we’re just afraid of looking wrong. Our egos are fragile to how other people perceive us when we fail, get something wrong or fall flat on our faces. But when we’re willing to make mistakes, be wrong or fall flat on our faces, we can get closer to what we want.  

 

Don’t copycat your way to success 

One of the great things about this industry is how easy it is to copycat and find success if you’re willing to put in the work, but that’s also a curse. You can look at someone else and copy them, but the reality is, we all have different wants and priorities. For some people, time matters more than money and for others, it’s money over time. Knowing what matters to you allows you to build the right thing and climb the right mountain. 

 

The ultimate win-win of cost segregation 

Because agents have 1099 income, it can be challenging to qualify for a traditional mortgage. The lower your income looks on your tax return - regardless of how much money you actually make - the harder it is to get a loan for another property. The great thing about cost segregation is, while it takes that income out when it comes to paying the taxes, your mortgage lender will add that back into your income. You get a high income for qualification purposes, and a low income for tax purposes. It’s the best of both worlds. 

 

The biggest misunderstanding about flipping

We call flipping homes investing, but it actually isn’t. Flipping is a business, just like wholesales and commissions from transactions. It’s active income that we should turn into passive income. Wherever our active income comes from, the ultimate move is to use it to create residual income by buying assets. 

 

Guest Info

 

Matt Chick is an agent, flipper, wholesaler, coach, trainer, and CEO of Guaranteed Home Buyers LLC. If it has to do with real estate he’s all about it. His agent relationships have paid dividends such as putting off-market deals together in a low inventory market.

 

For more information, visit https://mattchick.com/ and follow @iammattchick on Instagram. 

 

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