00:01

Welcome back. This is Episode Five of season 15 of the Growing Empires show and I am back for part two of my conversation with Dustin Heiner. As the founder of master passive income and successfully unemployed. Dustin makes sure he gives back by creating resources for investors at any level. So make sure you listen into part two.

00:24

Welcome to Growing Empires hosted by real estate entrepreneur and trusted Investment Advisor Jennifer de Jesus Growing Empires provides insight to building wealth through passive income producing real estate investments for those who want to build and manage a more profitable real estate portfolio.

00:45

So what would you say are the initial steps for somebody to start their real estate investing business from scratch?

00:53

Yeah, so there's a number of things. The first one is realizing that you need education, because it's going to be the easiest thing to say, getting education. But if you realize that you went, if somebody most people went to a college or a university and you spent 1000s of dollars, like we already know, education is something that we need. And what makes buying your first property so fearful, is not knowing either how to do it? What's the possibility of this or that happening? What's the downfalls? What's the upsides is just not understanding. But once you do it once, 234 times, like, once my students have 234 properties, they don't need me anymore, which is great. I'm just teaching them how to fish. And so first thing definitely is education or getting around a mentor getting around somebody, it's literally going to walk you through how to do all this stuff. Like I would literally pay Warren Buffett to work for him. Because of all the knowledge I would get all the connections, all the wisdom, everything because I want to learn and grow. So that's number one, education or mentoring all the above, you need to get around somebody who's done it before. The next thing on top of that, if you're gonna get started, I would suggest getting out of debt. These are big, broad overview things, getting out of debt, number one, start saving money every single month to invest because it's so much easier to invest when you have money. Even $10,000. People ask me, what's the minimum that students that you would take on what's $10,000, that's a minimum, we can find it property anywhere in the country. I like the Midwest right now and the Carolinas, down into Florida really great properties, start saving money get to $10,000, then you want to figure out a city that has good inventory. Remember, we're building a business, if you can build a business where you make money every single month, that's what you want to do. So we find a city that has good inventory, the types of homes we want to buy, that will make us passive income of $250 a month in passive income, oh, I got to share this too. With financial independence. The reason why I picked two $50 as my minimum and this is why I coach all my students is just imagine this one property at $250. That's $3,000 a year in passive income without working 10 properties at $250 a month in passive income, that's $2,500 a month $30,000 A year without working 20 properties is $60,000 A year 120 properties is $120,000. So sorry, 40 properties $120,000. If you just realize that it's just scaling the business, that's what you need to do. So first thing is get education, then get out of debt, save money at the same time, and then build a business in a city that has good inventory, so that you can continually scale the business, because all it is, is buying the next property and putting it into your business because it's inventory.

03:42

Wonderful. So talk to me about your books. How many books do you have? What are the names of them?

03:48

Yeah, I have four different books. The first one is how to quit your job with rental properties. And you know, not very creative title of a name, I would just like straightforward. And so I would let it I wrote that in order to give it out because I was coaching people. And I was like everybody has the same questions. They're beginner questions. Don't get me wrong. They're good questions. But they're beginner questions. Let me answer all these and then just give this book out, which has been great because now I literally give it out still, I give out to everybody, if only once and I'll just deliver give it to him. So that's one how to quit your job with passive income, creating passive income. I have multiple streams of income coming in all over the place, money comes in, but they flow into my river of income, it goes back into my real estate investing. Next one is successfully unemployed. These are the 16 lessons that I learned myself as I was building my business creating and investing in real estate. The last one is lasting marriage. lasting marriage is a book that my wife and I wrote about marriage using godly principles from the Bible. And so yeah, those are the main books but then all those lead into the podcast master passive income podcast is usually just a solo show. Just literally me giving the stuff out and then YouTube and fast forward just all that sort of stuff because I just realized I enjoyed teaching. I enjoy coaching people.

05:05

Your website is jam packed with so much information resources for investors. I think it's phenomenal. Thank you so so why don't we give our listeners the method to contact you? How do they get a hold of you and how did they get to your website?

05:19

Totally actually, how about I give everybody a free real estate investing course. Would you mind if I did that? Absolutely not. Terrific. If you text the word rental, r e n t a l 233777. Rental 2337770 literally give you my course many people just invest started investing with just this course. It'll show you how to find an area of the country to invest how to build the business how to make sure you're creating passive income of at least $250 a month in passive income and to do it right. So go to or you can also go to master passive income.com forward slash free course all one word, Master passive income.com, forward slash free course or text the word rental, our e n t a l 233777. That on top of that, you listen to podcasts. I love I'm a podcast listener. That's where I created my own. You can check me out master passive income podcast. If you just search master passive income. You'll find me on YouTube and the podcast. Another great thing I love Instagram like I'm on Instagram, people reach out to me on Instagram. So here's my handle. It's not that arrogant, but the only handle I can come up with it's the Dustin Heiner T. H. E. Dustin Heiner. And so it's really just me helping people out on there as well. But I also have my conference, the Real Estate Wealth builders conference, REWB, c o n rubicon.com. I'll literally let's do this. If you whenever you listen to this, this is an annual conference. If you want to come I'll give you 10% off if you want to come use a promo code podcast. Just type that in when you're buying your ticket. I'll know you came from Jan. And this is going to be so awesome to have you it's all about community. Oh, one last thing about my conference, I got to share this. If you remember where I went to that seminar, and it was run to the back, there's this booth in the back the gear give us 1000s of dollars. I want I wanted to build a conference, that was the opposite of that. It's all about giving, you will never see a booth of the back you'll never see that you'll literally only get content coaching and community. So that's what Rukh Khan is all about. It's literally a no sales pitch conference. So it's a blessing to be able to help people but yeah, Jen. So master passive income.com, my podcast or if you want to check me out on Instagram be Dustin Heiner.

07:28

Okay, wonderful. So tell me a little bit more about this master passive income, what stages are investors in that that can benefit the most from your educational events and seminars?

07:39

Yeah, yeah. So I personally enjoy helping anybody who is either getting started, or scaling, which you know, a good amount of people are getting started. But when you start to scale, that's when you then realize that it's the business that we're creating. Now we're investors, we invest in real estate, but we need to be realizing that we're entrepreneurs, and that we're business owners, business owners, if they're, we're problem solvers, if a problem comes up, we don't have money for this property. Well, we got to figure out how to solve that problem. If we don't have a property, we got to figure out how to solve that problem. And so the type of people that I love working with are anybody, if you're a beginner, you don't have any properties, you don't even know about business, I'll literally teach you from beginning to end like that, how to build a business, how to invest in real estate, how to be wealthy in passive income. At the same time, I love helping people to scale their business, because most people become like Mom and Pop, where they have one property, or two properties, or maybe three, they manage it themselves, and they get so burnt out, because they're managing everything, what I do is I show them that I don't have to get a job to pay for my property manager, I don't buy the property unless my property managers paid for. And all the expenses are paid for. And that's how we scale the business because we don't use our time, we use our properties to make us money, and we hire the experts in the area to do everything for us.

09:01

Understood. So what do you think, is the best way for somebody to get started in real estate investing? Right? They they have this mindset that they want to get started, what would you say are like the key factors of things that people need to do first, you mentioned in the in the past when we were talking you said education, you know, surrounding yourself with people that are smarter than you and I definitely agree with that. But But what and to save, you know, pay down your debt, but what's next then, right? How do you how do you get people off the fence to actually doing it?

09:38

That Well, number one, they have to know why they're doing it. I did it because I needed to feed my family. And I knew my job would eventually be taken away from me again. So I realized I absolutely need to not work for somebody else I need to actively so that that was the why is like if something happened I'm not gonna be able to feed my family. So that's what everybody's number one you need to have that To drive you past the times where it's going to be hard past the times, where it's going to be so difficult for you because you're thinking the world is against you which it can't happen. So that's number one is having your why number two, on top of the education I've talked about is having a community of other people, other investors like minded investors around you. When I first got started in 2006, there was nobody doing this weren't any podcasts, I don't even know if you podcasts were around, or YouTube was around when I first started investing. And so there was nothing like this. So keep listening to Jen's podcast here, you want to continually be growing and being around the right people. And the reason why I built my conference, the Real Estate Wealth builders conference, Rukh Khan, is because I wanted something like this, when I first started investing, I've been to other conferences for my online businesses, that were all about community, and I loved it, and I my business grew. And then I realized, that's what I missed and needed. When I first started investing was a community, I needed other people around me that were like minded, that we can help each other, I found the more people that I serve in this life, the better my life gets, the better their lives gets. So if you're gonna get started, you need to make sure you have people around you, that are also on the same path as you like, I'm an investor. And in my life where I physically live, I'm in Arizona, Phoenix, Arizona, and like people are my church, people that I go to the gym with people that I know, nobody invests in real estate, and I tell everybody that I invest in real estate, I have not found any of them. Now, because of my podcast, and because of the community that I'm trying to build, I know 1000s and 1000s of investors all over the country. So get around the right people, because they're going to help you get past the hard times. And then once you have that community around you, you're going to realize, Oh, my goodness, this is so much easier, or more simple than I thought it was.

11:51

So how do you actually build? How do you suggest investors build that network of contacts and partnerships that will support their business? Where did they go? What did they find these people? How did they get started,

12:02

I suggest getting around the people that you'd like and trust and look up to like, if you're listening to gems podcast, podcast, right now, more than likely, you've been listening for a while, and you could should keep and continue to do that. And then get around people that gems around. That's what you want to do. And on top of that, let's say you're investing in an area, I don't know, I'll just pick up like Indianapolis, Indiana, where a lot of my students invest there. Maybe join a facebook real estate investor group in there and be helpful in there. Don't just say, Hey, everybody, I'm an investor, send me your deals. Who wants to invest with me? Give me your money? No, no, you want to serve first. If you focus on giving, then you're gonna get in return. I have countless people come to me, and basically ask of me to give my time to them for free to do Okay, does it aid you, I want you to do this for me, do this for me do this for me. I'm like, why would I do that? I have family. Like if you're helpful for me, then I'll be helpful back. I have so many people that want my time, which I love giving my time. But if somebody's a taker, I'm just like, Oh, I'll be over here like you. Leave me alone. If you're a giver, if you're somebody that wants to give, that's why I leave with my life and serving people is I bring around myself, the people that are givers that want to help each other out. So my suggestion to get into the community or the be around the right people is to give have a focus of giving first, then get around the right people that you trust you listen to Jen podcast every single week, you want to come back and listen and then figure out who she's talking to who she's bringing on who's in her network, and then grab onto them. Even here's I love this. And Jen, you're probably the same way. When somebody emails me says Dustin, I would love to work for you for free. Because I want to be around you and the people you're around, I'm like, you sound awesome. Let's start braid, let bring you on. Let's start having you be a part of this, because they're giving and eventually, like I now have students who have paid me to coach them. I've coached them they've done so well. Now they want to give and be a part of my company. And now they are coaching for me in my business because they see the value of giving. They love being in the community that I've built, and they love that they are helping this big vision. And here's my big goal. Jan, my first goal was to quit my job and 10 years, when I was 27 made that goal. 37 years old, I was blessed to be able to achieve that goal. My new goal in life is to help 1 million people to invest in real estate. And all of this is in order to fulfill that goal. And so that's my suggestion getting around the right people. And by by doing that you're going to be giving and connecting with even more giving type people.

14:47

The episode will continue in just a moment.

14:51

As an investor, we know it's important to stay on top of market trends and real estate opportunities that add value to your portfolio. We also know that having a trusted source of rely Build information to help you stay a step ahead of other investors is critical to your success. If you're interested in having these types of resources as well as access to me and my team, I invite you to join the Empire Investment Club, a free service, it gives you an easier way to make sense of today's and tomorrow's real estate opportunities. As a member of the Empire Investment Club, you'll get access to relevant resources and investment focused experiences, such as live interactive webinars, market trend presentations, and investor socials designed to equip you with what you need to succeed. So whether you're an active investor, passive investor, a combination of both, or just starting out the club is where you'll get what you need to build a portfolio you love to join, just head over to Jennifer to haystack comm sign up. And we'll see you in the club, where everyone's on a journey to becoming a better investor. So when somebody starting out what is a common challenge or obstacle that they're going to experience? And how would you suggest they overcome it?

15:58

So the common challenge that everybody thinks they're going to have? And they, when they first started investing, they are going to look at how do I find the right property? And then how do I fund? How do I get money to buy the right property, this is what they think, is the biggest challenge that here's how I know this, the most downloaded podcasts that I have, on my show, the most watched YouTube videos, everything, like the most consumed things that I put out, or how to find properties, and how to pay for properties. Those by far are. But here's the big thing, even though those are the most watched and listened to episodes ever, they are literally not what you need. Those are actually easy. It's so simple to get that what they need, though, the biggest challenge is after you have that property, Alright, number one, are you gonna make money? And number two, who's going to manage that property? And number three, how are you going to continually scale the business. So what they want people want is how to find and find what they need is how to connect how to build a business, how to find the right people, like my suggestion, hire a fire finding and hiring the best property manager you can ever find in that area. hire them, make sure that they're running the business. So the episodes that people should be watching and listening to are the ones on property managers, how to find the right property managers, the right questions to ask how to make sure you're vetting them, how to hire the right ones, all that. But do those get watched and listened to? No, they don't. Because people go after the wrong wrong things that they think is the hard thing. But I kid you not the hardest part is building the business. Once you build a business, I don't even find properties anymore. I have a whole wholesalers, I have realtors, other investors, property managers, literally sending me deals. Properties, hey, this property is for sale? Would you want to look at it? Oh, sure, I'll look at it. So I don't even have that anymore like that problem any more than money. Oh, my goodness, because I've built my business. I have so much money passively coming in for myself for my own business. But I have lots of people that want to invest with me. So I utilize other people's money, you know, they give me a loan, I pay them back. And it works out really, really well. So that's the biggest challenge, building the business, knowing what's the right thing to go after, as opposed to how to find it and how to pay for it.

18:10

That's awesome. And I totally agree. I think your your team in your investing is in the people that you trust. And the knowledge that you surround yourself with is truly the make it or break it. I mean, sure there's deals out there. And you do have to pick good deals, and know how to assess those deals. But the reality is, is even if you know you bought the property, congrats, you're an owner today. You know what happens tomorrow, when you don't have your team set up? You fail, right? So you could have bought the best of the best investment property. But if you never had your team set up to help you be successful, you're going to fail regardless how good that deal was. So I completely agree with that. So once you start out, what is your advice for people that are looking to scale? Like how do they continue to grow and scale once the business has already started?

19:00

Yeah. So it starts before you even start the business and how that is and remember my story where I got laid off. And I started literally telling everybody, when they asked me what I do, I start telling everybody, before I was even really doing is that I'm an investor. Now, like I said, 100% of my money came from my job. That's my part time job. I'm a full time investor. And that is how you scale because it's not who you know, but it's who knows you as a real estate investor. And deals come my way. Businesses come my way, money comes my way. Because now everybody literally knows me as a real estate investor. In order to scale. You need a couple things. Number one, a business already built that's going to run itself. That's number one. If you don't have that, you're not going to scale because you're gonna be managing all the properties yourself, which you don't want to do. You don't have enough time. I literally spent I'll say this say it this way. A lot of people have heard of the book, The Four Hour Workweek and the premise of the book is to work, you know, figured out a way to only work four hours a week? Well, I personally think working four hours a week is for suckers. I don't want to work four hours a week, I only want to work four hours a month, I may be work 30 minutes a month on all my properties. By ground, my property management statements, look at a mixture of things good and set him back aside because I hire good people to run the business. And I give them the systems and procedures and processes in place. So they run the business that the way that I want them to run it. And with that, as I am scaling my business, the scaling part is now having other people send me deals, other people manage my company and build my company, other people wanting to invest with me as well. That's the way to scale. You can only spend so much time Well, let me say this way. The only commodity that you can never make more of earn more over anything else is time you could spend it all day every day, we all spend it, you can never get any more back. If you figure out how to utilize lots of other people's time, make sure they're paid well and taken care of, then it frees up your time to continually build business. That's why I have five businesses that make me money every single month. And it's all about telling everybody that you're an investor, building up your network, you all the people around you that want invest with you, and from there, allowing them to do what they are good at.

21:21

Fair enough. So last question for you. What didn't I ask you that you wish I would have? Oh,

21:28

yeah. So we talked about building the business, find the right property managers, I would say the biggest thing that we didn't talk about is patience and perseverance, persistence to you know, all three P's. So patience, perseverance, and persistence. Now the patients part is I get a lot of students, and I'm blessed. I have a lot of great students, they'll get to like, let's say in one year, they'll get 567 properties. And they'll say on a coaching call Dustin, it feels like I'm not growing fast enough, like I'm not building and I'm like, What are you talking about, you're doing great, be patient, it'll come with time. It's not a quick get rich, quick scheme. This is literally a get wealthy plan. If you follow it, over time, you'll eventually get it. And like I said, I literally had one student had 15 properties in a year and a half. And he's like, Man, I'm not growing fast. And I'm like, It's okay, be patient, it'll come in since then continually scale from there. So be patient, number one. Number two, be persistent. Because you're going to have times where it's going to be hard, you're going to in fact, I have a coaching call right after this from with some students who they have a little problem with the property manager, you're gonna have to persevere through those hard times where, let's say, God forbid, a property manager stealing from you. Well, we have to figure out how to solve this problem, and then find the right property manager and then get back on the horse. And whenever we fall down, we get back up. And then perseverance and persistence, we do not give up i, if I wouldn't give up when my property manager stole from me, I would not be here today, talking to you about what I've done in my life. It's because I was persistent. And I persevered through the hard times. Because if you know that you have a business that works, then you're going to be able to continually make money every single month, just like give you a quick example. Let's say you can buy a candy bar for 50 cents. And then you know, without a shadow of a doubt, you can sell it for $1 All day, every day, you can do it over and over and over again. Well, he shoot you would buy as many candy bars as you can, you can and make 50 cents every single time. But here's the beautiful thing about real estate investing. Let's say you don't even have that 50 cents, and it costs you 25 cents to borrow that 50 cents while you're out of pocket 75 cents, you still sell it for $1 you still make 25 cents after every single candy bar, you're making passive income every single month businesses make money every single month. Now what you would not do is you would not buy a candy bar for $1.25 and sell it for $1 You would lose 25 cents every single month. Why would you do that? Same thing with real estate investing, we build a business that makes us money every single month. And know without a shadow of a doubt we're gonna be making money.

24:08

Well, Dustin, thank you so much for all of your insight. I just think that you have so much to offer the real estate industry and investors alike. And I'm so thankful that I personally have met you and I appreciate your time on our podcast and all the resources that you have out there for investors and I look forward to potentially having you back in the future.

24:30

Totally Jan, I am so appreciative to be on thank you so much for having me. I would love, love, love, love to come back. I just love being able to just share as much as I can. Because like the closer I get to that million person goal of getting them to invest in real estate. I just feel more and more blessed because the more people that I serve, the more blessed and more more I get out of this life.

24:50

Well, you're truly inspiring. So thank you for that. Thank you for listening to our two part segment. As you heard Dustin's energy and passion About this industry is quite impressive. And if you haven't had a chance to check out this website, where he has multiple resources as well as links to his podcast and his books and his coaching segments, make sure you do check it out at master passive income.com And until next time, take care.

25:19

For more information about how Jennifer can help you plan, develop and manage a strong real estate investment portfolio, visit growingempires.com.