Episode 147: Profit first lessons from the owner of Stellar Realty Investments and an Air Force engineer, Scott Carlin
The Profit First REI Podcast
January 16, 2023
David Richter
Summary:
We’ve heard the benefits of applying Profit First and how it can change the way you manage your money for the better, but not about what it can do for you when you start using it from the very beginning.
Our guest today is Scott Carlin, an Air Force engineer, realtor, real estate investor, and the owner of Stellar Realty Investments. He is also a big believer in the Profit First method and has seen firsthand how it has impacted his business.
In this episode, Scott discusses how the Profit First method has helped him set up a system to achieve his goals while still having money for marketing and other expenses! Whether you’re a new or seasoned investor, you’re getting value either way. Tune in!
Key Takeaways:
[00:46] Introducing Scott Carlin
[03:34] On Joining a Mastermind
[05:50] On Getting Five Deals Within His First Few Months of Wholesaling
[08:55] On Learning About Proft First
[11:16] On His Current Deals and What Got Him Into Wholesaling
[13:15] On Scaling His Business and Transitioning to Real Estate Full-Time
[15:13] Scott’s Advice for New Investors: Join a Mastermind
[17:21] On the Importance of Knowing Where Your Money is Going
[19:43] What is Scott Doing With His Profit Money?
[21:22] Scott’s Keys to Success
[24:51] More Advice From Scott: Go to Flip Hacking Live
[25:30] Connect With Scott
Quotes:
[15:22] “Join a mastermind…What made me take action was joining a group and getting a coach.”
[17:21] “Cashflow—they don’t know where their money’s going. Like I had originally before Profit First, they just had just everything in one account. And I didn’t want to do anything with it, because I wasn’t really sure how much money I could scale up.”
[21:56] “I have a lot of the things that I’ve learned in the Air Force. It’s…directly been beneficial in my real estate career…[The] dedication, persistence, leadership. My ability to focus.”
Website: www.floridaREbuyers.com
Facebook: https://www.facebook.com/carlinscottm/
Tired of living deal to deal?
If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. – David
Transcription:
Scott Carlin:
Cash flow. They don’t know where their money is going. Like I had, uh, originally before Profit First, I just had just everything in one account and I didn’t want to do anything with it cause I wasn’t really sure what, how much money I could
David Richter:
mm-hmm. <affirmative>,
Scott Carlin:
You know, scale up right? Or how much money I could take out.
Outro:
If you’re a real estate investor who’s sick and tired of living deal to deal, then welcome home. Hear from everyday real estate investors just like you, and discover how they’ve completely transformed their business by taking a Profit First Approach. This is the Profit first for REI podcast, where we believe revenue is vanity. Profit is sanity. It’s time to start making profit a habit in your business. So here’s your host, David Richter.
David Richter:
This episode, if you are listening as a newer investor, is going to really benefit you. If you’re a seasoned investor, you’re going to see the clarity that Profit First has given Scott Carlin from the very beginning. And I promise you’ll probably be begging of like, how do I get that? He also talks about that he’s set up the system and he’s already using the profit account to do the things that he wants to do and still has the money for the marketing and everything else. And then he tells exactly what he’s using the profit account for. This is a great episode if you just want to be encouraged for someone who’s out there, how they got into real estate, and then how they were able to do five deals within the first few months of them starting in real estate and seeing what Profit First has done for him from the very beginning.
So I want this to be an encouragement to you. I want you to hear Scott’s story and then I want you to see how profit versus is impacting him and his business and what he’s buying this weekend from it, from what he said on the podcast. So thank you so much for listening. I know this episode is gonna help you one way over another. So let’s get into it. Hey everyone, we have Scott Carl in here today. I am super excited about this because I believe he’s going to connect with a lot of you here on this podcast. Scott, thank you so much for being here today.
Scott Carlin:
Oh, thanks David. It’s an honor man. This is like my first podcast, so it’s like, oh my God, I’m a little nervous
David Richter:
<laugh>, and I know he says he is nervous, but I mean, I know you’ll do fine. I promise I don’t bite on the podcast and we’ll get through this. But I came to you because we, you were a part of a book group, right? That was a book club that someone
Scott Carlin:
Yeah.
David Richter:
Was running it. And what was the book they were studying during the book club?
Scott Carlin:
Uh, profit First for Real Estate Investors.
David Richter:
There you go. So we have someone in here that’s a real estate investor, went to a book club for the book, which was awesome to be even a part of that. Um, and then, you know, then I heard Scott’s story and just like how he was gonna start implementing. So I want to get him on here, you know, so that way we could hear about that. Then he was telling me a little bit of his backstory too before we jumped on, you know, and like how he started in real estate. But you’re actually an Air Force engineer, correct? Scott?
Scott Carlin:
Yeah, that’s right. Right? Yeah.
David Richter:
How long have you been doing that?
Scott Carlin:
Oh wow. So in November of this year I’ll have 18 years in. Oh wow. In the Air Force. Yeah.
David Richter:
That’s awesome. So do you retire in two years then?
Scott Carlin:
Yeah, exactly. Two years.
David Richter:
I had a uncle that flew in the Air Force and actually flew on Air Force One and he retired after 20 years of being in the Air Force. So I love Air Force people, they’re my people. I get, you know, I get to rub shoulders on them quite a few times growing up. But, uh, no, that’s awesome. Thank you for your service. Thank you for what you’re doing and you know, I just,
Scott Carlin:
It’s my pleasure.
David Richter:
Appreciate that. Okay, so let’s talk about a little bit about your story. So you started wholesaling this year, correct?
Scott Carlin:
Yeah. Uh, okay. Yep. I definitely, um, so I joined a mastermind. Um, I was part of the book club, uh, seven figure Flipping. Awesome. Um, joined it back in, uh, October and then, um, I got my first marketing out in uh, January of this year.
David Richter:
Wow. That’s <laugh>, I love that. That’s action taking. And you first Okay. What got you even turned on to a mastermind at the beginning there, you know, to start that process?
Scott Carlin:
Uh, let’s see. So several things. You know, I’ve been interested in real estate for a long time. I bought, um, Clark Howard’s like book on real estate probably like 20 years ago <laugh>.
David Richter:
Okay.
Scott Carlin:
And, uh, but I never really, you know, took action. Um, and then like when I joined the Mastermind, uh, kind of forced me to take action cuz I was paying, you know, some money to put it. It’s like, I’m not gonna waste this money and not do anything. Right. Um, I don’t know. I, I guess like I was working, uh, at my job and there was another guy working with me and he got his realtor license and, uh, he started closing deals and he said he made like an extra $60,000 that year and I was like, wow. So I’m gonna do that. Um, uh, I got my really, uh, got my license just to like buy and sell my own deals to save money. So I haven’t really focused on the retail side. Um
David Richter:
Okay.
Scott Carlin:
But yeah, that was, that was kind of the catalyst.
David Richter:
That’s pretty cool because I like too that you joined and said, you know, I’m paying this money, I need to do something. I think that’s the difference. I don’t know if this is true for you, but I feel like a lot of people who go the free route and want the free of everything.
Scott Carlin:
Yeah.
David Richter:
Don’t do things and don’t take action. Would you say that’s true for the most part?
Scott Carlin:
Uh, yeah, I would definitely say that’s true.
David Richter:
Okay.
Scott Carlin:
I think a lot of people in this mastermind, um, they actually have actually said so that, uh, because they join, they’re taking more action.
David Richter:
Yeah. I love that. And I’ve seen that I traveled to lots of different masterminds across the country.
Scott Carlin:
Yeah.
David Richter:
And, you know, I’ve never seen someone in there doing zero deals at a mastermind.
Scott Carlin:
Yeah, right
David Richter:
So How many deals have you done this year?
Scott Carlin:
I’ve done five, uh, wholesale deals.
David Richter:
Wow.
Scott Carlin:
Six, five deals.
David Richter:
So, and then you, so you said you joined, was it October of last year you said that you joined?
Scott Carlin:
Yep, yeah.
David Richter:
So October of last year, and then January you sent out your first mailing.
Scott Carlin:
Mm-hmm. <affirmative>. Yeah.
David Richter:
That’s awesome. That is so cool. So you sent out the first mailing. How did the first mailing go? Did you get your first deal in your first month or was it like, I sent out the mail and then called a bunch of people or like, what was that story?
Scott Carlin:
Uh, it was, I don’t know if it was luck or what, but it was basically the first person who called. Um, I was too afraid to answer, so I didn’t answer it. She called like twice.
David Richter:
Yeah.
Scott Carlin:
And, uh, and I called her back and she said, you know, she wants to sell her house and she has another investor coming out like that day. And I was like, oh crap, I missed it. And uh, and I went the next day and we met and um, I made her an offer and um, she accepted and we,
David Richter:
Wow.
Scott Carlin:
Closed like 30 days later,
David Richter:
<laugh>. That is awesome. Do you mind me asking on that first deal, what was the assignment fee?
Scott Carlin:
Uh, it was $20,000.
David Richter:
Wow, okay. Yeah. So this is a, so you went to the mastermind in October, sent out the first mailer, didn’t answer the phone the first couple times, called her back, another investor went there, and then you picked it up the deal
Scott Carlin:
Yeah,
David Richter:
and then sold it for 30 days in 30 days and made 20 grand.
Scott Carlin:
Yep.
David Richter:
Wow. Well that’s if you don’t, if you’re listening to this right now and you don’t, and you just stop right there, you know, like if you’re just starting out, like listen to Scott, listen to just that journey within, you know, what, four months, five months, he had closed his first deal, got that check in the bank. How did it feel to get that first check in the bank from calling that lady back?
Scott Carlin:
Like the, the check in the bank was, wasn’t like the, the biggest like excitement,
David Richter:
uhhuh <affirmative>,
Scott Carlin:
I think it was when I found a buyer and they said, uh, yeah, well let’s lock it up. You know
David Richter:
uhhuh <affirmative>
Scott Carlin:
And that was kind of like, okay, that’s, that’s kind of a done deal unless there’s some kind title issue. Yeah.
David Richter:
Yeah. So that was the most exciting part too, was finding the buyer and saying,
Scott Carlin:
yeah,
David Richter:
Whoa, this works <laugh>
Scott Carlin:
Yeah.
David Richter:
Yeah. That’s great. That’s awesome. I, I love hearing stories like that of how people got started. So then, okay, so then you did what, four more deals over the course of this year while you’re working as the engineer?
Scott Carlin:
Yeah
David Richter:
Correct?
Scott Carlin:
Yep. Full-time, um, and you know, closed four more deals after that.
David Richter:
Is that all been from mail and calling people calling you?
Scott Carlin:
Yes. yeah.
David Richter:
Wow.
Scott Carlin:
All direct mail.
David Richter:
See, I love that. That’s because you hear some people like, oh, direct mail’s dead, or like, this channel’s dead or whatever, but like you did it, you’re still doing it, you’re working the weeds, you’re getting out there and in your first year doing that many deals. That’s awesome because the first year I did a deal, I did one deal that year.
Scott Carlin:
Yeah.
David Richter:
So like that’s awesome. You’re way ahead of like, even where I was at that time. I I absolutely love that. So then let’s talk a little bit about, you got introduced then to the book Prophet first through that book club that they were having,
Scott Carlin:
Right?
David Richter:
So was that just a part of like, um, you know, one of the sessions that they were doing? Or like, or was it someone that was like, oh, let’s you know, I want to focus on this book spec specifically in like created a subgroup or something?
Scott Carlin:
Yeah, kind of. It was a member, another member, um, Caitlin and she, um, she just started a book club and
David Richter:
yeah,
Scott Carlin:
um, I think, uh, I missed out on the first book club. It was, uh, the 12 week year.
David Richter:
Okay.
Scott Carlin:
And, um,
David Richter:
Great book.
Scott Carlin:
Yeah. And, uh, the second one was Profit First for real Estate Investors. Well, actually funny story is, I started, it was like two or three weeks in and I was reading the profit, the actual Profit first one.
David Richter:
Mm-hmm. <affirmative>.
Scott Carlin:
So I was like, that this doesn’t match to what you guys are saying,
David Richter:
<laugh>.
Scott Carlin:
You’re like, are you reading the right book? I’m like, yeah. Oh crap.
David Richter:
Oh, that’s great.
Scott Carlin:
Had to catch up.
David Richter:
Yep. That’s great. You had to go back and get the real estate investing version of it. So what to you, during that time that you were reading the book stuck out to you? Or like, did anything resonate with you as you were going through the book club and the book?
Scott Carlin:
Hmm, I knew the concept. Uh,
David Richter:
yeah,
Scott Carlin:
Kind of before I even started reading the book. Uh, just separate bank accounts and that just resonated with me, you know?
David Richter:
Yeah.
Scott Carlin:
Just to have, um, not only visually, but you know, to see the different, uh, amounts in your accounts and know that like, okay, I don’t, I can’t touch that, that’s taxes, you know, it’s great. Yeah.
David Richter:
Right. So that now you started setting up the system, correct? Like in your, for the real estate investing side?
Scott Carlin:
Yeah.
David Richter:
Awesome.
Scott Carlin:
Yeah, after I closed the five deals, then I worked out my percentages and then just moved all the, created the accounts and then moved the money in the, that I had and just one big account.
David Richter:
Yeah. Well that’s awesome because yeah, that’s what we see a lot with investors is they have that one big account. Yeah. And it’s like, what, where’s all that money sitting? So that’s awesome. So then from there, you move the money into the different accounts. Has that helped you see how much you have to spend on marketing and like, on the different areas and like now you’re using that money to now then are you still mailing, are you still doing outbound stuff to get leads in the door?
Scott Carlin:
Yeah, so, um, I didn’t mention it before, but I just, uh, the military just moved me again.
David Richter:
Oh wow.
Scott Carlin:
Fourth or fifth time. Uh, so I’m now in Brevard County, Florida. And um, so right now I’m working on my next list to send out. So I’ll just,
David Richter:
Okay
Scott Carlin:
Start, I’ll start direct mail again.
David Richter:
Where were you before?
Scott Carlin:
I was in the panhandle of Florida. Um,
David Richter:
okay.
Scott Carlin:
Like the Destin,
David Richter:
yeah,
Scott Carlin:
Al Coast,
David Richter:
yeah,
Scott Carlin:
Destin Cola, Panama City.
David Richter:
Yeah. Is that where all the deals came from when you
Scott Carlin:
Yes.
David Richter:
Purchased them. Awesome.
Scott Carlin:
Yeah
David Richter:
So you’re staying in the Florida market now. It’s just a different part of Florida,
Scott Carlin:
So Yeah, hopefully some of my buyers are like, oh, we’ll buy it in Brevard County too.
David Richter:
Nice. That would be great. Because
Scott Carlin:
Yeah,
David Richter:
That’s, as you can see, it’s definitely those relationships then make the money, uh, flow in. But also just, you know, being able to reverse engineer almost, you know, a reverse wholesale. Like, Hey, I’ve got the buyer, this is what they’re looking for.
Scott Carlin:
Yeah,
David Richter:
Can I find that deal for them as well too? Which I absolutely love that type of wholesaling. So what drew you to wholesaling then? Because a lot of people, you know, they get into it and I hear a lot of people say, oh, I like flick and flipping or rentals or, you know, like, I wanna buy and hold. What drew you to fi to wholesaling upfront?
Scott Carlin:
Uh, I feel like it was like a logical step to flipping
David Richter:
yep
Scott Carlin:
And, um, so eventually I would like to not necessarily flip. I’m more my ultimate big hairy, audacious goal is uh, passive income, um, per month.
David Richter:
Awesome.
Scott Carlin:
And, um, so yeah, so wholesaling I felt was a way to, uh, just buy property, uh, cheaper than what I could,
David Richter:
yeah,
Scott Carlin:
on the MLS or whatever.
David Richter:
Well, it sounds like you’ve done a good job at your first year and, and setting out those mailers. Now that you’re all right. Okay. The first deal, you were scared to pick up the phone.
Scott Carlin:
Yeah.
David Richter:
How are the four, the past four deals been? Is it still butterflies in the stomach or were you like, Hey, I’ve seen it work, I know I should answered the phone. Like, how’s that been?
Scott Carlin:
Yeah, um, I hired someone to answer the phones.
David Richter:
Nice.
Scott Carlin:
So
David Richter:
<laugh>. That’s great. So did they help you close those four deals or were you the one on the phone for those four deals, those four other ones?
Scott Carlin:
No, they just take a message and I call back.
David Richter:
Okay, so that makes sense because a lot of people are probably calling during the day while you’re
Scott Carlin:
Yeah.
David Richter:
Working.
Scott Carlin:
Yeah, definitely.
David Richter:
That’s, I love this. I absolutely love this because there’s no excuse if you’re listening to this now because all the gurus, all the people out there will be like, Hey, answer the phone right away, do this stuff. And of course, if you’re running this business to do 20 deals a month, you gotta do everything you possibly can, but like to get started, do what he’s doing, do what Scott’s doing, like help have someone answer the phone, take a message, and then to call back and like at least be there for that person.
Scott Carlin:
Yeah.
David Richter:
And even though it’s not like, obviously Scott, I think you would agree here, like we’re not gonna scale up with this. Like obviously if you’re an the engineer at the day and the real estate investor at night,
Scott Carlin:
Yeah <affirmative>
David Richter:
We’re not gonna do 50 deals a month. Correct.
Scott Carlin:
Yeah. Uh, I would love to, but I just don’t have time.
David Richter:
Right, exactly. Do you have a goal to get out of the engineer space and get into
Scott Carlin:
Yeah.
David Richter:
Or, and to get into real estate full-time?
Scott Carlin:
Oh yeah, definitely. So in two years, um,
David Richter:
yeah,
Scott Carlin:
Real estate’s it so
David Richter:
Real estate’s it.
Scott Carlin:
Yeah.
David Richter:
And man, I love this. I love when you started to, cuz you’ve got like two years still with the engineer, but now you’re like, now I’m you’re getting the deals under you.
Scott Carlin:
Yeah.
David Richter:
I feel like that’s the hardest part is starting and not just with real estate, but like profit first too. Like the, it’s just the always just that a beginning phase where something’s new. I mean, you even said
Scott Carlin:
mm-hmm <affirmative>,
David Richter:
Like I felt like I didn’t, I couldn’t answer the phone, I had to call her back. Like, she called me twice and then I had to call her back. It’s like, it’s just hard to take that first step. So what would you give advice to someone to take those first steps? Like whether with profit first or real estate investing,
Scott Carlin:
Maybe join a mastermind. You know,
David Richter:
Yeah.
Scott Carlin:
If you’re, if your problem is taking action, then, um, you know, that’s kind of what made me take action was joining, uh, a group and getting a coach, uh, well, a group of coaches and,
David Richter:
Yeah
Scott Carlin:
Um, yeah, I mean,
David Richter:
That’s awesome.
Scott Carlin:
Other than that, you know, that’s it. That’s like the one thing.
David Richter:
Well I love that because it is, it’s like built in accountability. You are paying for a mastermind usually too. So it’s like holding your feet to the fire. It’s like holding yourself accountable. If I’m gonna pay this money, I better do something with it. So that is a big one is if you are able to join a group that’s gonna hold you accountable and get you to where you wanna be. So I love that advice. That’s a good one to get started because there was the ancillary benefit too, like you joined that group and then they had the book club and now how do you feel about now setting up those accounts? Like what does that, what is that going to do for your future deals? Like now that the money comes in, what will that help you accomplish?
Scott Carlin:
Um, yeah, so like when the money comes in, uh, you know, I already have my percentages set up, so it’ll just, um, I’ll have to like, you know, manually, manually send it to the different accounts. Um, I think what is gonna be a good thing is, um, I’ll be able to see how much money I have in reserves in my operating account and I’ll be able to wisely, uh, maybe bring another person on board. Um, cause I know I have that runway that uh, you know, three, six months of reserves so that, you know, if it doesn’t work out then you know, I just, I guess fire ’em and go back to just doing it myself.
David Richter:
Right. Well that’s, that’s really good. It’s gonna give you that stability of where you are and like making sure that you’re on the right track because instead of telling, you know, like why I feel like people live deal to deal. Why do you think a lot of investors live deal to deal? Do you know like what would in your opinion be that a lot of people get stuck in the real estate rat race?
Scott Carlin:
Yeah, I guess, um, you know, cash flow. They don’t know where their money is going. Like I had, uh, originally before Profit First, I just had just everything in one account and I didn’t want to do anything with it cause I wasn’t really sure what, how much money I could, you know, scale up. Right. Or how much money I could take out and, you know, buy something un unfortunately, I do have a W2 job, so it’s, that’s just my primary income.
David Richter:
Yeah.
Scott Carlin:
Um, so I haven’t taken any, uh, any personal money out of the business yet. Um,
David Richter:
Well that’s, have you, but you did separate it out and do you have some money?
Scott Carlin:
Mm,
David Richter:
A little bit of money sitting in all the accounts across the board.
Scott Carlin:
Yeah.
David Richter:
Awesome.
Scott Carlin:
Yeah, I do. So there’s quite a bit of money in my profit account and um,
David Richter:
Awesome.
Scott Carlin:
Actually, uh, I plan on buying something this weekend, uh, with that money, so
David Richter:
Boom. Yes, I love that. I love hearing stuff like that because that’s what that system’s all about is giving you the power to be able to see where it is. And then I do feel like, Scott, that a lot of people ask like, what if I’m just getting started in real estate, like, and I still have my W2 job, should I split these out? Should I take owner’s pay? Or like, should I at least have an owner’s pay account or a profit account? Would you suggest people have those accounts when they first get started, even if they have a W2 job?
Scott Carlin:
I mean, that’s what I did. Uh, and the money’s still sitting in there. Um, so <laugh>,
David Richter:
That’s awesome.
Scott Carlin:
Maybe it’s just reserves at this point, but
David Richter:
Right. I would see in the next few years, like you have two years to build those accounts to see like, okay, I’ve got like a year’s worth of, you know, the pay that I was taking so that way I could jump into it.
Scott Carlin:
yeah
David Richter:
We’ve seen that happen with some of the people we’ve worked with. They still have W2 jobs and then they start this, but then they start filling those accounts, but don’t take from them until they quit their W2 and have like six to
Scott Carlin:
hmm
David Richter:
12 months of reserves in there. And it really helps them have a long, a long runway of like, Hey, at least I’ll be okay during this time, so that way I don’t have to get there. But yeah, I absolutely love that. And I love what you said too, you know, splitting them out and taking and doing that like gives you the confidence to take the money from there because you know it’s yours. So. Okay.
Scott Carlin:
yeah
David Richter:
What do you, what are you gonna buy with the profit money? I have to ask that. What if you’re okay saying it on the podcast?
Scott Carlin:
Yeah. Um, I’m gonna buy some scuba uh, scuba diving equipment.
David Richter:
Awesome. Very cool. So are you into scuba diving or is this gonna be like, I’m gonna buy the equipment and get my, you know, get the whole order?
Scott Carlin:
Yeah, so I mean, I am certified,
David Richter:
yeah
Scott Carlin:
Uh, open water, just a generic one.
David Richter:
Okay.
Scott Carlin:
And, um, but I, you know, I felt only dove a handful of times, but we just bought a house with a pool, so I’m gonna like, you know, <laugh> Yeah. Put on my scuba gear and go swim in the pool.
David Richter:
<laugh>. That’s awesome. That is so great. That’s honestly too, the point of profit first. Yeah. I mean, is to make sure that you have that profit available and even when you’re first getting started, you know, like being able to do those deals in sock away money, you know, and then do the things you want to do with it. Like, I don’t know how many people I’ve seen get started in real estate, but then they don’t do stuff like that until like year two or three, three or maybe never because they’re in the habit. Just think about it, if Scott, if you’re listening to this and Scott hadn’t opened these accounts, you know, like he’d be scared to use that money, he wouldn’t be using that money this weekend more than likely to take the scuba gear out. Or if he did, he’d feel bad about it because
Scott Carlin:
Okay
David Richter:
He’s like, you know, like, that’s how I would assume that you would, you know, so that’s where I can see that it’s just that clarity that it gives you of where you can, where you can take the money from.
So I absolutely love that. Okay. I’ve only got a few last questions here, so we’ll just keep moving it along. What would you say, this does not have to be real estate related, but what would you say is some of the keys to the success you’ve had in real estate so far? Because I would say like five deals in your first year, like the way that you’ve been going, that is awesome. So like, but oddly too, you’re in the Air Force and engineer, like driven. What would you say are some of the keys to your success and what you’re doing?
Scott Carlin:
Well, I would say that uh, five’s not enough. You know, I feel, you know, I can always do better.
David Richter:
<laugh> <laugh> I get you
Scott Carlin:
Um, but, um, I, a lot of the things that, uh, I’ve learned in the Air Force, it’s uh, like directly been, um, uh, beneficial in my real estate career. Just, you know, dedication, persistence, leadership, um, uh, my ability to focus. Um, yeah.
David Richter:
Awesome. So there you go. There’s some things right there that you could take and then implement ’em right in your real estate business. But then Scott, you said something too. I we, I gotta focus on it. You said five deals. You know, I feel like I could be doing more, honestly, like this is, you’re at a great spot. You did five wholesale deals in your first year. You’re probably gonna do at least a couple more between now and the end of the year of when, you know, like we’ve still got at least four months or something until the end of the year. So you’re, I know that you’re going to do more. So I, that’s where we get caught up in the, I you know, because you’re a part of a mastermind, it’s very easy to see what other people are doing and like,
Scott Carlin:
yeah.
David Richter:
Oh, I could be doing what they’re doing. So just be careful there of doing the, the comparing game because I, you, like I said, I’ve done 850 deals up to this point, but like my first first year did one deal, you know,
Scott Carlin:
hmm
David Richter:
Like the whole year. So it’s like just be, it’s the, if you’ve never read the gap in the game, be grateful of the gain that you’ve had, you know,
Scott Carlin:
Yeah
David Richter:
Versus the gap of where you want to be. It’s like where we focus on just the gap of like, oh man, I could be doing 10 deals. Well focus on
Scott Carlin:
yes,
David Richter:
this is your first deal and your first year in real estate and we did five deals and anyone listening to this too, just do that first deal. If you do one deal a year, that’s fine. Like, just start somewhere. Scott, I bet you’re glad that even though you think you want, you know, you wanna be doing a lot more, that you took that leap of faith, did that first mailer and did that first deal and called the lady Back.
Scott Carlin:
Yeah,
David Richter:
yeah,
Scott Carlin:
Yeah, definitely. I think about that a lot. You know how far I’ve come and I have to remind myself, um, right of that
David Richter:
Occasionally. It’s so hard too, especially if you’re in real estate, especially if you get into the entrepreneur world. There’s just so many forces around us where it’s like, holy, we crud, they’re doing so much and they’re doing this
Scott Carlin:
hmmm < affirmative>
David Richter:
And that, and it’s like, I could be doing more. But then you look at your personal journey, you’re like, this is pretty good. You know, like of where you are. But that’s because Scott took action, he got the Mastermind, then he did the mailing, took the leap of faith, spent money on marketing, took, did the mailing, then calls start coming in, and then he calls the lady back. You know, it’s like just getting yourself out there. If you want something different than you’ve ever had before, you’ll have to do things different than you’ve ever done before. So Scott, I think you’re a testament to that.
I think you’re also a testament to profit first and like at working with people that are starting in real estate as well too. So I want to thank you for wanting to come on to here and just help people about your journey. And like, and I love what you’re doing that you did separate the accounts, even with the W2 job that you did, put the money away in those different accounts as well too. But Scott, is there any last minute advice that you would give the real estate investing community? Anything, uh, anything at all that you would like to tell?
Scott Carlin:
No, go to Flip Packing live in October. There
David Richter:
You go. Go to Flip Packing Live. But
Scott Carlin:
That’s kinda where I got the catalyst to
David Richter:
Okay.
Scott Carlin:
To really focus, you know.
David Richter:
Awesome. So there you go. You heard it here. Go to Flip Packing Live, uh, bill Allen’s event, and he does a great job. I like him a lot and he, he promotes Profit First and the whole group loves that book, so make sure that you also just listened to his stuff. He’s a great guy. Thank you so much, Scott, for being on here today.
Scott Carlin:
Okay
David Richter:
is there any way, let me ask this because I know you’re in Florida and there’s going to be investors that listen to this that are in the state of Florida. Is there any way to reach out to you? Would you mind either giving like, I don’t know, connect on social media or if an email phone or would you be okay giving something if someone wanted to reach out to you and say, Hey, I’m a buyer in that, you know, that county that you’re in, or like, I’m in the Florida market. Can we connect? Yeah.
Scott Carlin:
Uh, yeah, I mean, my name is Scott Carlin. I’m on Facebook. Um, that’s pretty much the main one, but um, I have a buyer’s capture website. It’s called floridarebuyers.com. And if you just go there, you just type in your name and uh, it’ll get on my list. There
David Richter:
You go. So floridarebuyers.com. We’ll make sure to put that in the show notes too. So if you’re in the Florida market and if you’re in what you said Brevard County, so if you’re there, then make sure to hit Scott up and he’ll get you some good deals there as see he’s wholesaling. So I just wanna make sure that you had that opportunity as well too. So I wanted to say to you, if you’re listening right now and you’re like, Scott, and you’re just getting started out, and you’re wondering like, where in the world do I put my money? What do I do with it? You could do one big thing, you could go to simplecfo.com and right there we have a link to the book if you’d like to read the book and get the basic details or schedule a call with us.
If you need someone in your business to help and guide you. We might not be the fit for you, but we have a lot of people in our network. We wanna make sure you get exactly what you need from the financial aspect and then set up in a profit account like Scott and buy that scuba gear for yourself.
Scott Carlin:
yeah
David Richter:
Like do something like that, like reward yourself. That’s what this system is about, is making the business fun for you and not drudgery for the first three years while you’re building it. Like we need to make sure that the business is working for you. So go to simplecfo.com, would love to talk with you. Remember, start making a profit in your business, but not only that, make it a habit in your business as well too. Scott, thank you so much for being on here today. It was an honor to interview you.
Scott Carlin:
Thank you, David.
Outro:
This episode of The Prophet First for REI podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the Profit First system in your business? Schedule a discovery call at simplecfo.com right now. We’ll see you next time on the Profit First for REI podcast with David Richter.
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