Omar Alfaro shares his journey from waiting tables at his family's restaurant to flipping hundreds of houses through his company Sixty Minute Cash Offer. He discusses how he leveraged real estate coaching programs like Craig Proctor and Mike Ferry, built systems for wholesaling and flipping, and the importance of unique selling propositions in marketing.
Develop a unique selling proposition (USP) like 'Your home sold or I'll buy it for cash' to differentiate yourself from competitors who only advertise as 'number one realtor'
Build your database early and consistently - Omar's restaurant connections from age 12 became his real estate client base 20+ years later
Stay disciplined with your buy criteria, especially when markets are hot - Omar lost $110,000 by going outside his market and competing at 80% ARV
1:55:06Josh Stech, founder of LendingHome and Sundae, shares how he built a billion-dollar real estate lending company in just five years, scaling to 14% market share. He discusses the venture capital playbook, hiring at scale, maintaining culture with 500+ employees, and his transition to solving the property sourcing problem for investors through Sundae's marketplace model.
1:47:49Tommy Mello, founder of A1 Garage Door Service, shares his journey from massive debt to building a billion-dollar company. He discusses critical business lessons including the importance of systems, hiring for attitude over experience, and how he scaled from a local garage door business to a nationwide operation that sold for $570 million.
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Partnerships require identical visions and work ethics - different revenue goals or commitment levels will create friction and potential backdooring
Create systems where you can step back from day-to-day operations - Omar now sees flipped houses only after staging is complete
”“If you don't find a way to replace commission checks with profits, you're always gonna have your commission checks coming in and which may not be that much. If you replace them with profits or add profits, you're gonna scale a lot quicker.”
”“The best deal is the deal that you don't buy sometimes.”
”“Don't get so confident that all your flips are gonna do phenomenal. Stick to what you know in your area. And if you wanna exceed your area, make sure that you're buying it so well that you can't lose.”
”“If you wanna go somewhere far, you need to get around the right people.”
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Omar Alfaro: You know, after my dad passed, you fill some shoes. But then you start realizing that, you know, you you don't have to fill your dad's shoes. You have to fill your shoes for your family. You have to show up for your kids. He showed up for us.
His dad didn't show up for us. He showed up for us. But at the end of the day, yes, take care of your immediate family, your brother, your sister, your mom, your dad. But if you have kids, your primary focus now is them because they have nobody else except you. So that's a really hard transition being in our positions.
We're doing it all. We're gonna help you. We're gonna help you. We're gonna help everyone at the same time. Your your time spread thin.
Your time allocations here, here, here, and here. But at least you're doing the best you can.
Steve Trang: Hey, everybody. Thank you for joining us for today's episode of Disruptors. Today, we have Omar Alfaro with sixty minute cash offer, and Omar flew in from Orange County to talk about how he went from serving tables to flipping hundreds of houses. Now, guys, I'm on a mission to create a 100 millionaires. The information on the show alone is enough to help you become a millionaire in the next five to seven years.
If you'll take consistent action, you will become one. If you get value out of today's show, please hit that subscribe button. That way we can tell YouTube to push our video to more people so we can create more millionaires. Ready? Let's go.
Alright. So first question is, what was your life like right before you got into real estate?
Omar: Well, just like a 22 year old, 21 year old, I was, I've been a waiter at my parents' restaurant growing up since I was 12, and, you know, serving tables, dishwasher, you know, cook the whole nine yards, at my parents' restaurant. And once I I kinda got an idea of what I wanted to do Mhmm. And I went to college, played some baseball, you know, walked on a on a JC in in Stockton. And then I realized that I didn't really want to go to school, and I left Mhmm. And went into the hospitality industry, which is the restaurant business.
After that, we ended up I ended up moving back down from Stockton, and I helped my parents at the restaurant. I really just dialed in the craft of being a server and a bartender and helping my mom and dad. And then I was like, you know, I really like this business. So then I decided to leave and move into an apartment down in San Bernardino, then I ended up getting a job at Wolfgang Puck. Oh.
From there, I transferred literally one day to the next. In a week, I decided to leave San Bernardino and go to Vegas as a 21 year old guy, and I wanted to party.
Steve: Nomad. You just didn't care where.
Omar: Nope. That was it. And moved to Vegas, for two years. Mhmm. But I realized something, Steve, that I didn't, I didn't realize this, that I went to Vegas as a as a vacation, but I live there.
Mhmm. So most people go to Vegas, and they end up leaving. Right? But, no, I ended up staying, but I ended up doing the things that people do on vacations. They drink.
They party. They do the extra stuff.
Steve: Yeah.
Omar: And as a 21 year old guy making, you know, thousand bucks a night as as a bartender, you know, blackjack tables there, roulette's there. Everything's there. So All temptation. Yeah. And guess what?
It gotcha. Mhmm. And then next thing you know, like, I'm like, hey. I got a problem. I'm spending you know, I wasn't making enough money per week to cover because I was losing it at the tables, you know, as a 21 year old.
So I made the call to my family at 20 I think it was 23 at the time. I was like, hey. I I need to move out of Vegas. Because if I stay here, you know, something bad's gonna happen. Because the trajectory I mean, it was great.
It was fun. Phenomenal. But, yeah, I ended up moving back to Apple Valley, moved in with my parents, at 23, and waiting tables, and then one day
Steve: Same restaurant?
Omar: Same restaurant. Las Brisas restaurant. You know, my dad opened it when he was 50. And with my mom and us, you know, three kids or their three kids. And, yeah.
So then after that, I was at a booth in my parents' restaurant when a good customer walks in and says, hey. You ever thought about selling houses? And I said, you know what? Sure. I've I'm selling cell phones now to to make more money at the end, and you remember the Nextel phones, don't you?
Yeah. Yes. I had the biggest accounts in our area with the Nextel phones. As a side hustle? Yeah.
As a side hustle. $100, $110 a cell phone. That's how much I'd be making every time I sold a phone. Mhmm. And I was like, this is perfect.
So sold all the, you know, banks' phones, and the water companies, and Edison, and all the people that I knew from the restaurant. And, he's like, hey. You know? Just just get get your license. I'll put you through school.
And by the way, Steve, it was the snake pit. And I say this as a real estate, you know, agent at the time. It wasn't like it is today with all of the coaching and everything available at your discretion.
Steve: Mhmm.
Omar: Right? It was not. It was a binder that you have to go through to look at the MLS. That's how long I've been licensed for Mhmm. Since 2002.
So, I he he put me through school, and I was like, hey. You know, let let's what do I do now? Gave me a phone book, and he said, start making some calls. I was like, what do I say? Just ask anyone if if they wanna buy or sell real estate.
If they're looking to sell their home. If they're renters, just turn the page. I was like, okay. And, literally, that's how it was. And, primarily, it was That's the training, though.
Steve: Oh, 100%. Ago.
Omar: Yes. It was. There here you go. 23 years old, passed the test the first try.
Steve: Mhmm.
Omar: And then the rest of the agents that were there primarily predominantly, it was an older generation type of real estate company or not even company, just, like, the industry. It wasn't young at all. It was, you know, Homer Simpson, the Simpsons with the green jacket that you get and all that stuff or whatever color it was. But, yeah, I was, the youngest guy by at least twenty years, twenty five years. How'd that go?
I still got some, scars on the back of you know, behind me. So those scars, people stabbing you in the back because you're the new guy. Right? You're all excited. Hey.
I got this client. They they wanna sell, and then here comes the vultures. Mhmm. Like, oh, they wanna sell? Oh, yeah.
Well, I'll help you.
Steve: Mhmm.
Omar: This is what I'll do. Next thing you know, I get a small piece of the bigger commission that they received because they helped me. You know? So got a larger cut. Of course.
Yeah. Just for walking me through the process. Like, this is my client, though. Like, I made the connection and everything. You're just telling me what I need to sign.
Mhmm. Because I didn't know how to fill out a contract. There was no classes for that. Yeah. Not at all.
Steve: Gotcha. Okay. So how long do you stay at that place?
Omar: I wanna say two years.
Steve: Two years. Okay. And then so but at this point, you're done with serving at a restaurant.
Omar: No. Still doing it.
Steve: So you're still serving at a restaurant and you're you're ready to roll through? Okay. So did things turn around in the realtor world?
Omar: No. Not initially. Not at all. Yeah. As a matter of fact, I stayed waiting tables because that was my network.
Steve: Mhmm.
Omar: That was the, hey. If you guys wanna buy or sell real estate, I would give my card to every single person who I'd give a bill, you know, every single time. And I let them know, hey.
Steve: Prospecting?
Omar: Of course. And at the time, I didn't know what prospecting was because there was no book. There was no there was just, hey. It's a relationship business, so I'm gonna give out my cards as to many people as possible. And at that time, you know, I'd give them their bill, get them all liquored up with our badass Cadillac margaritas.
Mhmm. And next thing you know, like, you know, hey, Omar. I wanna sell a house. Now I wanna buy a house. Mhmm.
And I dipped into the database that I've already created. People saw me grow up in that restaurant. Mhmm. So they already liked. They knew me.
They trusted me Yeah. Because I'd bring them their food.
Steve: Right.
Omar: So it kinda worked hand in hand. So I kept that going as long as I could, for sure.
Steve: So then when did things turn around in real estate?
Omar: I think I wanna say in 2000 so 02/1945. I was like the most I ever made was 50 k at the time, maybe 40,000 with commissions. But I'd say after I got the REO account when it crashed. Got it. That's kinda what years later.
Many years later. Okay. Five years later.
Steve: So REO account were really tough to come by. Yeah. Right? Like, if you had an REO account, I won't say you're necessarily printing money, but you're doing pretty good at that time. Right.
Right. Right? You have a couple 100 listings. Right? And so how have
Omar: a couple 100, but less than
Steve: that. How did you come to get the REO account? Actually, let's take a step back. Yeah. For everyone, what is an REO account?
Perfect.
Omar: It's a real estate owned where the bank took back the property because of the crash. Everybody lost their houses. Mhmm. They couldn't afford their mortgages anymore, and they literally just gave back the houses. People would walk away and say, screw it.
I'm not paying a $400,000 mortgage when the house is only worth 100 k.
Steve: Mhmm.
Omar: And they literally just walked away. Bank took the property back. That means they didn't perform on that note. And then now they had to sell the asset, and they had to take the loss. Mhmm.
And that they had to get us as realtors or agents Mhmm. Who sell their assets in different counties. Right.
Steve: So an REO account for a realtor Mhmm. Is basically a bank who is just giving you listings.
Omar: Yeah. Or a servicing company. Yeah.
Steve: Yeah. Or a service company. Right? Hey, Omar. I got another property.
Hey, Omar. I got another property. Right? So it's just this this steady flow Of assignments. Of a Perfect.
Right? Yeah. Of property. Here. Go.
Work with this. Go for go go check out this property. Hey. Look. Go list this property.
Go list this property. And it sounds glorious. Right? It's a
Omar: lot of work. Lot of work.
Steve: On the outside, it seemed glorious. I couldn't wait to get an REO account. And when I finally got an REO account, I was like, man, this is a lot of
Omar: freaking work. A lot. Alright. Have a team. Yeah.
Steve: So how did you come to, land your REO account?
Omar: As a matter of fact, there was this one, because this one lady walked into our office, and I don't remember her name. And I remember we were just still prospecting. We were doing our thing. It was like, she walked in and she said, hey. Have you guys ever tried, you know, to to log in to get BPOs Mhmm.
Which is a broker price opinion? And the banks needed a value on some of these assets. You weren't guaranteed the listing at the end, but they wanted to know what the value was on these specific assets that they had to take back. And I signed up for about five or six different, BPO accounts. Mhmm.
And just lo and behold, a couple asset managers called me. They said, hey. We got a couple of properties that, you did the BPO on. Can you sell it for us? I said, sure.
Let's go. Yeah. And literally, I signed up, and it was all free to sign up. And they started giving me one, two, and then I started selling the asset as fast as I could. And then they're like, hey.
You know, you're selling some properties. So let's give you some more. And then they told their other asset friends asset manager friends. And then next thing you know, I had five or six asset managers Uh-huh. Giving me properties, and I had to they told me to go to specific websites to, upload my bio and all this other stuff so I can get approved.
Yeah. And then I got approved, and, you know, I think at one point, we had about 40 to 50 listings. Mhmm. And it was nuts. Yeah.
Nuts.
Steve: Yeah. I think the highest I ever got was, like, total listings, like, 50 something. Mhmm. But Oreo, I wanna say maybe, like, 30 something. Mhmm.
And it became, it became challenging. So before I could talk about your your experience there, I wanna ask you, how many associations did you sign up for that, were not your ethnicity?
Omar: Associations that I signed up for.
Steve: I'll give you an example.
Omar: Yeah. Tell me.
Steve: I was in NA REP. Oh, yeah. National Association of Hispanic Real Estate Professionals. I'm not very Hispanic.
Omar: Not at all, Steve. No.
Steve: I was in ARIA, which makes sense. Right? That was the Arizona Real Estate Agent Association. I was in NARIB. K.
National Association of Real Estate Brokers, which is the African American one, but it's not nowhere in the name does it say that. Yep. But, basically and there was another one. There was another Hispanic. I can't remember which one it was.
But, basically, like, you had to sign on all of them. Right?
Omar: You had to.
Steve: And then so and he had to identify. Right? Are you, at this time, I think it was male, female, prefer not to disclose. Right? And then there was, you can identify your sexual preference, which I thought was really weird.
Omar: You can. It was random. Right?
Steve: And then there was also, like, ethnicities. Mhmm. Right? And I was like, well, at some point, if I don't get an account soon, I'm gonna start identifying as whatever you need me to identify. Right.
Eventually, I did get an account, but those are the thoughts that go through your head. So going back to you, like, do you
Omar: I I went into the NAR rep, and then as well as all of the boards, extra boards that I needed to be a part of.
Steve: Everything to show that you're part of the community.
Omar: Yes. Yes. And I did put on there, it's like, hey. I am a minority. I'm a Mexican, so here you go.
Give me some extra benefits and bonuses. So I filled it out, and, you know, maybe I didn't get a couple accounts because of that, but it doesn't matter.
Steve: Well, they so I remember when I got mine. They were like basically, as long as you weren't a white male, you had a, like, legit shot.
Omar: Right.
Steve: That's when I when I got mine. Right? So and look. I didn't agree with it, but at the same time, I wanted my own REU accounts.
Omar: Exactly.
Steve: Okay. So let's talk about your experience. Right? Yeah. Because on the outside looking at and these people might not be interested.
I don't know. But, if you guys were in the realtor role, you would totally, like, be interested in this part. What was it like, what was the experience of being an REO agent?
Speaker 2: I'm filming this video for the man himself, mister Ian Ross. The guy crushes. The guy's the best person in sales I've ever seen. I've invested elsewhere and haven't got the same results. I've gone from being a seller, making 5 k a month, to being a hybrid role, making 11 k a month, to now be four months down the line from 5 k to on a closing opportunity, inbound, full calendar with the best opportunity, the best offer in my space.
OTE is around 20 k a month from month two. So I've gone from 5 k to 20 k. If that's not a return on your investment, I don't know what it is, man.
Omar: If you're
Speaker: a salesperson and you don't invest in sales training, you're gonna get left behind because your job is to be better at sales, and sales training directly makes you more money.
Omar: My name
Speaker 3: is Lance Buchanan. I have recently switched in sessions with Ian Loss. Those conversations with Ian has made me $50,000 in the past two deals that I've had. I was able to renegotiate, go back and renegotiate the original purchase price on one deal, and I save $40,000, and I got another $10,000 off by other deals. Call me in, give me a chance.
Omar: You won't regret it.
Steve: If you like what you just heard and you'd like to have similar types of results, similar success, text close, c l o s e, to 33777, and we'll see if you qualify to join Advanced Sales Mastery. We are taking people from good to great.
Omar: It was, interesting because, they didn't tell you when you signed up that, you have to front the electricity, the gas, the water. You had to front everything to this property in addition to, if you if if you went to go see the house to make sure the property was secured, people are living there. They didn't cover that. And then you had a knock on their door to let them know that, hey. The bank foreclosed on your home.
What kind of emotion goes to somebody when you get some random stranger knocking on your door telling you you lost your damn house, and then I'm here because of the bank sent me. They're gonna they were so pissed. So many people came out. Bats, screw you. This is what well, I'm not leaving.
I had to minimize or try to mitigate this situation, and, then we started, you know, offering cash for keys. That's where that term came from, from all of these, you know, REOs, and we had to give people thousands of dollars to move out. And the banks didn't tell you to start off at 10 k. They said 1,000. Mhmm.
They said 2,000. Some people some banks said $500 to move out. It's like, no. Like, I wouldn't move out for $500.
Speaker: Mhmm.
Omar: Where am I gonna go? Where's my family gonna go? But they didn't care. So that was the stressful part about it too. And then the managing of all of the, the utilities.
Mhmm. And then you get bills that people leave on their air conditionings.
Steve: Mhmm.
Omar: And then I got thousand dollar bills on empty houses, $700 bills for water that is just keep on flushing or or because the toilets always ran. Mhmm. Pools that were all of a sudden filled because squatters would decide to go, you know, fill up a pool that was empty. All kinds of things. And it was, it was a headache.
But
Steve: What were the worst stories you had in this experience?
Omar: Dogs. There was a a property with a lot of dogs that were inside.
Steve: Mhmm.
Omar: And some of them were dead and, you know, crap and piss everywhere. Mhmm. And it was just sad Yeah. You know, on that side of it because they didn't do anything wrong. The family just left the the dogs inside the house Right.
When they left. It's, like, so sad. That was one avenue that was pretty, like, traumatizing. Mhmm. The other one was families with kids that are there, three or four kids, and they have, like, no idea.
And I think they I think they just them the the owners themselves or the previous owners just didn't think that it was gonna happen to them. Right. And that's the the worst part because they're just being naive.
Steve: We we deal with that with preforeclosures.
Omar: What's that? We deal with
Steve: that right now with preforeclosures.
Omar: Oh, yeah.
Steve: Right? They're just compartmentalized. Like, no. This isn't real.
Omar: No. It's not real. Like, they didn't wanna face it. Mhmm. And it's sad because they would tell their kids, like, hey.
It's okay. This is our house. Don't worry about it. He's just here taking pictures. Mhmm.
It's like, oh my gosh. Like, what do you do? It's just you know, it's it hits the heartstrings.
Steve: So for me, I remember, like, there was one property. They had cat in there. I didn't see the cat. That was just part of the cleanup. I remember having to evict the family, right before Christmas.
No. I'm sorry. Knock on the door in December and tell them, like, on the twenty seventh, you gotta go. Right? So, like, I I remember vividly, like, as I'm opening the door, I guess, hitting the Christmas tree.
Right? The front door. Sitting the Christmas tree, hitting the presents. Like, sitting down at the sofa right by the tree is like, here's what's going on. Yeah.
And then the the other one was I remember, like, it was it was a a house where, the wife was handicapped. Right? She they're older couple. And I'm talking to the husband. I was like, here's the situation.
We're talking about the cash for keys. Look. This sucks. Blah blah. And all I could hear from the garage is just like, get over here so I can look at who I'm yelling at.
I was like, alright. So you walk over this so she can yell at you for evicting her Right. Because she got foreclosed on. Yeah. And then the the thing for me was always the it wasn't the fronting the the utility bills.
I just put all this up on a credit card. For sure. It was the incessant where if I don't get reimbursed for this one. Right? Because 400 here, 500 here.
The worst one was 20,000.
Omar: Right? Like, you're
Steve: paying for, a demolition. And they pay for a demolition of, unpermitted additions. Oh, for sure. Yep. Right?
So, okay. That's 21,000 on a credit card. It's like, okay. You know, I hope this one gets paid back because Mhmm. I'm gonna have a it's been a rough rough conversation with my wife if I don't get reimbursed on this one.
And the because the commission's less than the 21,000.
Omar: Oh, commissions were nothing. Think about it, guys. Like, it's what 6% of in our market was 80,000 to 150 k or or less than that. And we'll talk about it later about another one that that I ended up purchasing. But it's what are you gonna make?
$2,000? Yeah. And that's if you got lucky and double ended the deal or something.
Steve: Yeah. So those are those are challenging things. I was looking forward to it. Once again, I was like, man, there's a lot of freaking work. Now I don't, you know, regret it.
Like, I was I'm I'm glad I got it. Yeah. Another thing too was, you know, at that time, before I got the account, I remember, like, are your agents were a bunch of, like, jerks. Like, they didn't answer the phones or nothing.
Omar: They did know. Honestly, they
Steve: did not. I always made a conscious decision. Like, when I get my account, I'm gonna answer every phone call, at least return the calls so that I'm not, like, blacklisted or, like, when the market turns around. Because for whatever reason, like, are your agents thought that the the dance of the party would never end?
Omar: Oh, tons of people did.
Steve: You know how many people I saw, that were REO agents that were, like, killing it? And then after the party ended, they're, like, struggling to get jobs?
Omar: Because they they didn't do they didn't they didn't do it right. They didn't have character.
Steve: Nope. So alright. So then, eventually
Omar: Yeah. You don't REO. Yeah. But but before we go into the Yeah. Being done with it, it's like well, you just mentioned about, you know, after, you know, the REO business was done.
Like, what what else did you do as the realtor or as the real estate agent after? Like, you still have to go sell houses. You still have to go and create and and supply and create solutions for people. So what I ended up doing back then is before they made a clause that agents couldn't buy the houses Mhmm. Because it wasn't in any document that we couldn't buy houses.
So I ended up buying the houses that were that were assigned to me because no activity. You couldn't give houses away. Mhmm.
Steve: And
Omar: I remember this one specific house on Viento, which I still own today, and, it was at listed for, like, 80 k. It had sold for $2.60, you know, in 2007
Steve: Mhmm.
Omar: And dropped to 80 and then got to drop some more, dropped some more. I ended up buying that house for $40. It had bees in it and all kind. It was weird. And, literally, I bought that house, and I started, I can start buying the rest of them.
Mhmm. So then I started buying a couple other ones. And then couple asset managers said, hey, Omar. Are you, like, are you buying these houses? Yeah.
They're available.
Steve: Mhmm.
Omar: So why not? It's like if nobody else is trying to buy the houses that we're listing Mhmm. Like, that's just because they didn't ask. Mhmm. I just submitted my paperwork like normal.
Mhmm. You gotta remember all these asset managers had a ton of paperworks coming in from all these houses being sold. So they would see my LLC, my signature, along with me getting a commission Mhmm. On the deal itself. And they're like, hey.
We you can't do that. Then they had me sign a couple addendums, and so that kinda went away. And I think I messed it up for other people that were buying that were trying to buy houses. Yeah.
Steve: They cert certainly, some rules changed.
Omar: Yeah. Definitely. But before I did, you know, I picked up a few properties at
Steve: that time.
Omar: So That's smart. Yeah.
Steve: Alright. So then, eventually Mhmm. The story or the the the the music's over, party's over for REO, and then you had to become a realtor again.
Omar: Yeah. I was always a realtor.
Steve: I know. But you had to, like, work with buyers and sellers again.
Omar: Correct. Correct. You're
Steve: an REO agent. Like, that's a full time gig.
Omar: Full time gig, and you just developed the relationships with the investors that were buying that properties.
Steve: Yeah. Oh, actually, the other thing too, I remember the what was interesting when, you know, when you're on the inside Mhmm. Asset managers. You think these are, like, Wall Street professionals. No.
They were not. Bankers. Nope. Right. No.
They're just kids. Yep. They were, like, 25 year old kids trying to hit bonuses so they can go out party with their friends. That's it. Like, they're not these fancy bankers you think of.
Omar: No. They acted some of them acted like they like their crap didn't stink, though.
Steve: Mhmm. For sure. They were I mean, they got the godlike complex, which I get because they were deciding. Like, they were all these realtors were begging. Getting.
Yes. All these realtors are begging, kissing their feet and this and that. Right? So I I understand why they acted that way. But as someone, like, hanging out with them later on, like, man, like, you're younger than me.
Like, you don't know what's going on in this world.
Omar: No. They just started to do one job.
Steve: Yeah. So alright. So then, eventually, you go back into operate wearing a traditional realtor hat. Right? And then you get into coaching.
Omar: I did. Yeah. After 2009
Steve: Mhmm.
Omar: 2010 because that was still, like you know, the the properties were still, like, kinda left over. There were still some Mhmm. Selling that were REOs. Two thousand ten, eleven ish. Yeah.
Because it that that time was, what, two years? Two and a half years? Maybe three years of just constant, you know, deals. So, yeah, February.
Steve: Right. But then you don't you you signed up for a coaching program.
Omar: We did. Yeah. Which was
Steve: Craig Proctor. Craig Proctor. CP. Yeah. Right?
So you and I were talking about that earlier. Mhmm. So you got a Craig Proctor. And what did you take away from Craig Proctor?
Omar: The biggest takeaway from me, from Craig Proctor, was the USP. Mhmm. Unique selling proposition. Right. And that so many people slept on it.
So many people slept on it, and, they didn't allocate in their markets, and I did. And people were asking me what it's about, how does it work, this, that, and the other. And for for those of you that follow me already, you've seen it, and it's, you know, your home sold or I'll buy it for cash. It's been on my signs from day one, you know, since I started. And I just started buying houses at the, listing appointments instead of trying to sell them for cheap.
Yeah.
Steve: Yeah. So you need selling proposition is huge. So Huge. Yeah. For those of you guys that are familiar with our coaching program, we have the scorcher policy.
Right? And the scorcher policy is, hey. Make sure the investors you work with that buys your house Mhmm. Put $10,000 nonrefundable earnest money deposit. Right.
No due diligence period. Nobody's allowed to walk in the house afterwards, and, and they have proof of funds with their with their name on it. Right? That's just a USP. It's all in this unique selling proposition.
Right? And then I have the other second part of our scorched earth was make sure the realtor will reduce their commission dollar for dollar. K. And if they can't sell it, then they'll buy it themselves.
Omar: Oh, that's that's good.
Steve: Right? So that's what we have. Buy it
Omar: themselves for the earth. Yeah.
Steve: Right? And I talk about this, and people are like, this is insane. But I was like, actually
Omar: It's really not. That was my marketing. Uh-huh.
Steve: Right? And when I sent out direct mail, it was your home's not guaranteed to buy, or I'll sell you market for full asking price, or I'll pay the difference out of my pocket Right. Which is all Craig Proctor stuff.
Omar: All CP. And and and what's nuts, Steve, is that when that first came out, I took it in and I ran with it. And then even, my broker at the time, he put on a sign, but he would never wanna buy the house. He's afraid of it. Yeah.
He was it was only, like, the segue into, let me list your property for 6%. Right?
Steve: Yeah.
Omar: Like, no. Let me buy it and go make $20,000 versus a $7,000 commission check or whatever it was. But in in that and then we also did the, you know, your money back guarantee. Mhmm. So you buy any home through us, and if you're not satisfied with the next eighteen months Mhmm.
Steve: We're
Omar: gonna sell it for free or buy it back from you. Mhmm. You think that I ever bought back another house? Never. I never bought
Steve: one house.
Omar: No. Not never bought one house on that buyer guarantee. Mhmm. Because then there was all these you know, there was tons of inventory, so we need to we need all these buyers. Mhmm.
And we I think one time I ended up selling the house for free.
Steve: Mhmm.
Omar: But I marketed it. I got buyer calls, and it it it paid for itself. So it's cool. But it's funny, like, we
Steve: I did this. So, my experience so I wanna say it was 2010 when I signed for Craig Proctor. I was looking at Craig Proctor. I was like, I'm looking at Mike Farris, looking at Brian Buffini. Right?
I was like, alright. And Russell Shaw, he's, like, you know, a big, big player in the Phoenix market. So I went to lunch. Like, here's the three options to look at. Which one should I go with?
Like, Craig Proctor's. Okay. Great. I do Craig Proctor. And I remember I went to the first event.
Right? It was a three day event, I think, in Orange County. Right? Anaheim. Yep.
And I'm sitting there.
Omar: We're probably in the same room, bro.
Steve: Probably in the same
Omar: room. That's crazy.
Steve: And this guy is talking about, like, hey. You know, you wanna change your future, think about your kids. And the whole time I'm watching, he's like, okay. This is a great close. Like, he's getting me, like, all emotional.
Mhmm. Right? And then they don't tell you the price on day one. They just say it's coming. Right?
But look around. Everyone with the lanyards, with the black, right, or the different, rips. Yeah. Right? Just pay attention to talk to them.
Talk to them. Right? And I go, I was like, hey. You know, you guys are in it? You guys like it?
Like, yeah. Okay. How much is it? Like, wow. You just have to wait.
You just have to wait.
Omar: And they were all programmed.
Steve: They're all programmed. Yeah. Right? And so day two, at the end, they hit you with a price. And I remember going because I was, I was there with my wife, and no kids yet.
So I was there with my with my wife. We were staying at her cousin's place. And I'm just thinking a thousand bucks a month. Like It's
Omar: a lot, man.
Steve: That's a lot of money. I can't I can't pay
Omar: In 2010?
Steve: Yeah. I can't pay a thousand a month for coaching. Like, this is this is crazy. Right? I was like, should I do it?
Should I talk to my wife about it? And I think, well, if I tell my wife, she's gonna say no. I'm not gonna talk to my wife about it. Right? You just did it.
So I pulled the trigger, right, on day three, going there, and now I'm just sweating bullets. I gotta make this work. So I'm losing sleep before I pull the pull the trigger for a thousand a
Omar: month, which is wild. Right.
Steve: Right? But then after that, it's like, I gotta make this work. I gotta make this work. And I remember it was six months. Right?
Because they did two events a year in Anaheim. So it was the the you know, Anaheim, Hollywood, Florida, Anaheim, Hollywood, Florida. So I go to the next one six months later, and I'm sitting at a table, like, a little bit bigger than this. And they're like, alright. We're gonna break you guys up to groups of six, seven, whatever.
And you sit around the table, and it was like, alright. What did you do the last six months? Right? And and, I guess, naturally, like, the leader, if there's not a leader around.
Omar: Of course. Yeah. You you you take the table. Yeah. You're
Steve: That's right. It's like, okay. Well, you know, in the last six months, I've updated all my business cards. Right? I've updated my website.
I bought this domain. I bought I created this ad. Mhmm. I ran this advertisement inside the newspaper. Right?
Like, I did all these things. You know? I'm I'm using the the pitch. Your home's looking to buy the appointments. Right?
We're sending out the direct mail for all the canceled and expires. Right. Right? So I was like, alright. Here's all I've done in the last six months.
What did you do? Nothing. It's like, k. Loser. Whatever.
Alright. What did you do? Nothing. It's like, okay. This is getting really weird.
What did you do? Nothing. Over here, what did you do? And everyone, literally at my table, said they did nothing. For a thousand bucks.
For a thousand bucks a month. In my
Omar: mind, I
Steve: was like, you guys must be, like, California people. Like, you guys must be rich. Right? Because I'm an Arizona boy. A thousand bucks a month is a lot of freaking money.
How are you guys getting, doing this? And I remember having that question. And then now that I'm on the coaching side, it's not that uncommon, unfortunately No. It's, that people that get into coaching that take all the information They don't apply. Don't apply it.
So it's nuts. But, also, you know, top of the unique selling proposition. Now when you're driving around because you what does it say on your billboard? Like, when I'm driving around LA, driving around Orange County, what does it say for your for your company right now?
Omar: In in our area, it just says your home sold or I'll buy it for cash. Right.
Steve: Now every time you drive by a bus stop, every time you drive by, you see these stupid signs of the shopping carts.
Omar: Yeah. None of them say that.
Steve: What do they say? Number one realtor. That's it. Right? Like, there's nothing and, like, how much does your heart break every time you see one
Omar: It's like, you guys are just not getting it. There's no there's no catch. There's no unique selling proposition as to why someone needs to call you. Yeah.
Steve: It's pretty remarkable. We have 40,000 number one realtors in the Phoenix market.
Omar: Right. 40,000 number one realtors.
Steve: It's what it appears to be. They don't have any other claims. No. Right? So you did the proxy thing.
So That was How how much did it help you with the, we'll buy your house
Omar: cash? Tremendously.
Steve: Mhmm.
Omar: Because the minute I did it, you would always ask me. People would inquire. Yeah. And it's always the inquiry first. It's like, how does that work?
Steve: Mhmm.
Omar: How does that work? And then to top it off, you know, your home sold or I'll buy it for cash. I know it was guaranteed, but I dropped the Mhmm. Guaranteed, and I created my own.
Steve: Sure.
Omar: But then it's like, the move up was awesome. You know, buy this home, and we'll buy yours. Mhmm. You know, that that was the biggest one that we added. Mhmm.
And that said, how does that work? Like, well, we're gonna secure that we're gonna end up buying your house so you can buy this house that you truly want to move up to. Right. And they're like, really? And I did that, Steve Mhmm.
So many times. I ended up getting them a, like, a solid offer on the other side so they can get this one. And guess what happened? I would double end this one. I'd end up double ending that one.
Mhmm. We make four sides on two transactions. Yeah. And it was phenomenal at the time. So Yeah.
It it was awesome.
Steve: And, like, some of the people don't know this. Right? But, like, I got into wholesaling because
Omar: of Craig Proxes. See, that's so sick.
Steve: Right? It's because I did your wholesale guarantee. I'll buy it. And, like, well, just buy my house now. I was like, no.
Like, that's not how this works. Listen, Omar. We gotta list the house for ninety to a hundred twenty days.
Omar: Yes. It was. Yep.
Steve: And if it can't sell in a hundred twenty days Then. Then I'll buy it. They're like, no. I want the cash offer now. It's like, no.
You're not listening. This is how it works. Like, no. Buy my cash now. It's like, buy my house now.
It's like, but if I pay cash now, you're gonna walk away with a lot less. So, like, that's okay. I was like, okay. I don't think you're understanding the math here.
Omar: We're trying to convince them to sell it traditionally. Yeah.
Steve: And so, like, I had so many people, like, demand I buy the house cash. So, like, we're wholetailing. Thankfully, we could. And, like, look. I was buying at 80%.
I was overpaying for a cash offer. But we were paying 80%, and I'm making a little bit more than I would on a commission.
Omar: Over here, I'm sitting pretty happy. A 100%. Yeah. And we
Steve: just do that over and over again until we ran out of money.
Omar: Because we did, for sure.
Steve: Yeah. Then we had to start wholesaling.
Omar: Yes. Yeah. That's cool. I didn't I didn't take it to that step of wholesaling it, like, when that market turned or when the when I got into CP.
Steve: Mhmm.
Omar: Just because, like you said, the mindset was still like, no. No. You're not getting it. You're leaving money on the table. Like, it's a ninety to a hundred and twenty days, then we can buy it.
Mhmm. And then most people are like, oh, okay. Fine. Here. I'll sign the listing for six months.
Here you go. Yeah. It's like, what was I thinking of not buying more or wholesaling and making twenty or thirty thousand every Yeah.
Steve: Property? It would, it definitely was I mean, like, I looked at all my marketing campaigns, and your home sell guarantee was, like, by far
Omar: the biggest. Oh, big time.
Steve: And then, eventually, though, you went you moved away from property to something else.
Omar: Yeah. What else do you go after that? The traditional route I was introduced, and this was later on too, Steve. So once February happened, thirteen, fourteen, fifteen Mhmm. I think in 2015, I got introduced to, Mike Ferry.
Mhmm. So it was Craig Proctor from 02/1011. Alright? Then I stopped, and I just did my own thing, and obviously just
Steve: It worked too well.
Omar: It it worked great. I actually quit twice.
Steve: I think I quit. The first time I was like, man, this is working really good. I'm good. And then they wrote me back in. Actually, you're a future flipper.
Do you know Kristen Stapini?
Omar: Yeah. She was big Yeah. In in in CP. She's a coach or something.
Steve: She was my coach. So she was the
Speaker: one that wrote
Steve: me back in. They're like, hey. You left you left the family. Why don't you come back for a free event and whatever. Right?
And they they signed me to Kristen. I'm sure
Omar: of it. Oh my god.
Steve: Kristen closed me and got me back into
Omar: Stampede. Yep. Yeah. Stampede.
Steve: So, like, she always like, we always laugh. Like, she was the one, like she remembers all her calls. She was like, Stevie, you're the crazy one that, you know, like, you got all these great ideas, and you're doing all this stuff, but you're doing too many things. You can't focus with anything. It's like,
Omar: yeah. Yeah. Yeah. Because we're always doing stuff. Yeah.
Yeah. That's cool. Alright.
Steve: Okay. So you're getting the Mike Ferry Yeah. In '15.
Omar: Yeah. Right? Yep. 1516. Yeah.
Steve: Okay. So, like, that's a different because proctor is
Omar: just straight marketing. Straight marketing to to create the inventory coming in. Yeah. And at that time, you didn't really need extra technique. You just needed to at the end of the day, now seeing this, you know, sales and marketing.
Mhmm. So that marketing helped with sales, and the sales ended up helping with more marketing, etcetera, etcetera. But before we get into the the the avenue of, Mike Ferry Mhmm. In 02/1211, you start meeting investors that were buying these properties at you know, for me and as the REO agent. And his name is John.
I won't say his last name. But he would be buying these houses from me, and he would tell me to relist them. And he ended up flipping these houses, and I would see what he would do because I had the initial listing. And then
Steve: You know exactly what it looked like.
Omar: Yeah. Exactly. So I was like, how can mister John make this kind of money, and I'm only making x? And he would, you know, get me down on the commission because he wanted to make more profit. And, you know, he was making 20 or $30,000 in 2012 Mhmm.
Selling these assets. And it's like when he was flipping them, and I'm like, well, that lasted for about six months of me seeing him do this. And then that's when I said, no. I'm flipping houses now. And that's when I got into flipping houses.
Steve: Oh, that's when you started flipping.
Omar: Yeah. 02/1112. Yeah. Gotcha. Yeah.
Alright. So tell me about how how was that, you know, starting? That was it was the best thing ever.
Steve: Mhmm.
Omar: Because I would still have my pulse on the market on the listing side, regular traditional buyers and sellers. And then I would buy some of the properties at the listing appointment still, and then I'd fix them, and I'd flip them, establish cruise. My first renter at the Fourplex, I ended up buying in 2010 for a 100 k
Steve: Mhmm.
Omar: Which I still own today. My first renter, he is my main one of my main guys to this day. And he's I've seen him you know, his trajectory has been awesome. Yeah. He's been taking care of all my properties.
He's flipped them all for us, and it's it's crazy how that evolution happened. But, yeah, that's when I got into the flipping game.
Steve: So how did you flip houses and still have the patience to work with regular home buyers and homeowners on their listings?
Omar: I wanted doors. So I wanted doors. I wanted to increase capital, with commissions and profits and buy houses and buy doors for the cash flow. I had a couple clients that came in into our restaurant, and his name is Mike. And he's, like, a second dad to me.
He's he's taught me a lot. He the first time I saw, a platinum American Express card, and he told me that, hey. If you don't find a way to replace commission checks with profits Mhmm. You're always gonna have, you know, your your your commission checks coming in and which may not be that much. If you replace them with profits Mhmm.
Or add profits, you're gonna scale a lot quicker. Yeah. That's what we end up doing. Right.
Steve: So going back to it, when you're making money from flipping because, like, once I understood wholesaling.
Omar: Yeah.
Steve: I had zero patience for a person that did not like the houses I was telling them to buy. Or, like True. Steve True. This house has been in the market for two months, and you've done nothing to sell it. Like, why aren't you selling?
Or, Steve, I know you set the market I know you set the neighborhood record for dollars per square foot, but it took too long to sell. And, like, when I like, after that, I was like, screw all this. Done. I'm just straight wholesaling moving forward. I don't have the time or the patience that we talk to this way when I can make way more with less effort over here?
That goes back to the question, how if you were flipping, how did you continue working with, like, regular homeowners? You know, it was
Omar: I'm gonna say this. The flipping side of it was maybe four properties a year.
Steve: Okay.
Omar: K. It wasn't at scale Got it. Like we have now because I had no team.
Steve: Mhmm.
Omar: I didn't know what I didn't know. I mean, it was beige and brown theme. Now it's grays and whites. You know? And now here comes, you know, beige and brown again.
But back then, it was just one a quarter. Got it. One a quarter added $30.40 k to the top line Mhmm. You know, as I saw it, plus my traditional real estate. So I I managed okay with one.
It was a side hustle for sure.
Steve: Gotcha.
Omar: Yeah. Okay. Yeah.
Steve: And then you come along and you you sign up for Mike Ferry. So you got good at marketing because that's what I look at. I look at Craig Proctor. The skill you got was marketing and building a team. Yes.
Right. And then Mike Ferry is, like, just straight cold calling.
Omar: Straight cold calling, man. And if you're not putting in those hours, you're not putting in those, those calls and you mark them and then you see who yes. Yeah. The whole sheet.
Steve: So Yeah. So why did you join Mike Ferry?
Omar: To be honest, because of the the company that I ended up joining. That was the only reason. Mhmm. I ended up joining a a brokerage where I I thought was nice. Mhmm.
And it was great. I learned a lot at this specific company. It was Intero Real Estate Services.
Steve: Oh, yeah. You see them all over, Southern California.
Omar: Yeah. At that time, not anymore Yeah. Because it's just a NorCal now. Mhmm. But and I I was attracted to them because they would always dress really nice.
Mhmm.
Steve: K?
Omar: They would always wear shirts, ties, three piece suits. It it it had, like, the feel of, like, Beverly Hills
Steve: Mhmm.
Omar: But in Southern California, Rancho, San Bernardino area. Mhmm. And I was like, you know, I I like, you know, I like this theme. You know? It gets me accountable Mhmm.
Because I didn't have a true, like, mentor coach, someone next to me. Mhmm. Oh, yeah.
Steve: You had someone throw a phone book at you.
Omar: That's it. And I learned it myself. So I saw this. I'm like, this is great. This this is awesome.
Mhmm. So with my work ethic and a little bit extra technique Mhmm. I'm gonna crush it. Yeah. And we did.
Of course. Jumped into that company, and everybody was trying to break this board. And this is a cool thing. We would put up people's names, right, and that are in the company. And it was a blue square if you had it pending.
It was a red square if you took a listing, and then it was a a green square if you had it sold. You know, like, so the whole progression. And I said to the team lead, I'm gonna break that board with as many listings and sales and pendings you could ever see. And they all laughed. They said, no one's ever done it.
Steve: Mhmm.
Omar: I'm like, alright. Well, it's perfect. I'm gonna do it. And literally within a year of me being there, the new guy, I broke it with a badass team that we had, and we just knew about marketing and sales. And we broke it, and then people got pissed that I broke it, and people were trying to break it for the last two years.
Mhmm. And and it's probably because I did jump on with Mike Ferry. Mhmm. So I just knew I just knew the the technique
Steve: Mhmm.
Omar: That literally one minute listing presentation
Steve: Right.
Omar: That I went to every single every single appointment.
Steve: Mhmm.
Omar: I say, you know, thanks for having me over. I appreciate it. Go ahead and I'm gonna take some notes. Can you show me around? And we're gonna sit at the table, and we're gonna discuss, you know, the price that you're going to get for your house.
Every single time, I'd say the same thing.
Steve: Mhmm.
Omar: And I set the intention as soon as I walked in, and they appreciated it because it gay they wanna be led. Mhmm. So why not lead
Steve: them? Right.
Omar: And I didn't know about exactly how to say that before. Mhmm. But after learning it with Mike Ferry in addition to, you know, the, the the four personality types and everything else.
Steve: Yeah.
Omar: It's like, oh, this is easy. Alright. Analytical, driven, amiable, you know, expressive. So yeah.
Steve: Yeah. So one minute listen presentation. Yeah. And that was it?
Omar: That was other stuff too. I mean, there was a lot of stuff. I mean, the cold calling, the No. But I'm saying the
Steve: one minute listening presentation. Is that what you just said there? I was at
Omar: Yes. I mean, literally, that was it. I mean, did I butcher it? Maybe. But I put it to me.
Steve: But you broke the board with that.
Omar: Oh, a 100%, I did. Yeah.
Steve: Yeah. And, again, it goes back to, like, you get really good at marketing. Mhmm. Right? Which, you know, for a lot of us talk about the journey.
Step one's marketing. Step two is sales. Yep. Step three is operations and leading an organization, and step four is finances. Yep.
So you got the marketing figured out, and you got the prospecting figured out. And then the sales, obviously, when you get in
Omar: there Yeah. Once you're there to close. Yeah. Just do this. Yep.
It was done.
Steve: Yeah. The one thing that, I've said this before, was when I joined Procter was they were really good at marketing. Not so much at sales.
Omar: No. They just they get the they get the people in the door.
Steve: They were so good at getting people in the door.
Omar: Yes. But they didn't
Steve: tell you how to close them. Well, they did tell you how to close them. But the way they told you how to close
Omar: them was not the way to close them. Yes. I didn't like Yeah. I'm not gonna say it it
Steve: didn't work with me.
Omar: Mhmm. Yeah. It didn't work with me. And then, you know,
Steve: if everyone is talking, like, you know, wondering where we're going with this. Like, for me, the reason why I'm going this direction is, like, you know, you had go from server to flipping 100 houses. A lot of personal development's involved.
Omar: You have to.
Steve: Right? And so after this, you go to Tony Robbins.
Omar: Yeah. Right? My buddy, Adrian.
Steve: Yeah. Old man. Who's been on the show before. Right? Adrian Hernandez.
Adrian Hernandez. Right?
Omar: That's right. My boy. A little just
Steve: a little bit smaller version of Tony Robbins.
Omar: Yep. I could say that. Yeah. Alright.
Steve: Just a little bit smaller version. For sure. Because I saw him speak at WealthCon. Yeah.
Omar: He did great.
Speaker: I think
Steve: it was on fire.
Omar: Fire. Yeah. Yeah.
Steve: And I was telling I was talking to Ryan afterwards or in the middle of it. Like, while Adrian's going, I was like, why did you put me up after him? Right? Like, this guy
Omar: Literally him and then you as analytical. Like, it Yeah. Okay.
Steve: Why would you put, like, this guy I mean, I guess, like, just fire up the crowd so they can stay awake when I go. So, yeah, so you you do the the Tony Robbins thing with, with Adrian.
Omar: Yeah. In 2018? 2018 was the first, UPW. Mhmm. So unleash the power within.
Steve: And then after that, you joined Future Flipper.
Omar: I did after 2020. Yeah. Yeah. Right. So years later.
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Omar: So you said
Steve: So is future flipped with then when flipping took off?
Omar: You know what? I would say yes and no. I was low key in 02/1516. The flipping side of it started I created my own little sheet of, like, how easy it's gonna be to flip this house, this house. I I wanted all the all of them the same.
Mhmm. So I created just a little breakdown of, like, all my guys, and I developed a team. I think the one of the biggest years was 02/2015. Mhmm. We ended up doing, like, 20 or 22 flips that year.
Steve: Mhmm.
Omar: And I was like, okay. I got something. I could do something here. Yeah. You know?
And back then, I mean, we were doing decent. Mhmm. But our flips, Steve, were 15 to $30,000. Yeah. It wasn't like $100,000 rips every time that people talk about.
That's probably lying to you because
Steve: The social media ones.
Omar: Yes. The social media ones. Like, how much of that is is expenses and payback? Mhmm. You know?
So but, yeah, this was, like, legit details. But, yeah, I mean, it it it definitely helped.
Steve: Mhmm.
Omar: I think with Future Flipper, it put me in another environment of other people.
Steve: Mhmm. Because I
Omar: didn't have that too often. CP wasn't, I I didn't go I went to one event. Mhmm. Everything else was just done on calls. Mhmm.
K? You were you
Steve: mean, you live right by where they were.
Omar: Right. But I wasn't I didn't have somebody else pushing me. I just got what I needed out of it Mhmm. And said, you know what? This is great.
I'm gonna run with it. Mhmm. I'll create it. And you could. And I and I did it.
Yeah. After that, it was Mike Ferry, and I went to all the retreats.
Steve: Mhmm.
Omar: And that was cool because then you start seeing people up on stage, and then you start understanding, like, oh, I could be up there. That's no problem. Then then it was TR. TR is a different ballgame. That was more personal development as a person.
And then, you know, lo and behold, you know, we got a hold of, you know, future flipper and stuff. So
Steve: you started networking with the right people.
Omar: Yeah.
Steve: Was that about the power of networking?
Omar: I don't think no one's where they're at unless they network.
Steve: Mhmm.
Omar: Actually, I should rephrase that. Like, if you wanna go somewhere far, you need to get around the right people. Yeah. Like, around yourself. You know, you had me on this you're you're having me on the podcast.
Appreciate that too. Mhmm. You gotta qualify to be on this thing. So that's awesome. As well as, like, being in the right rooms with the the right people.
Yeah. Because then they'll connect you to other people, and that's just something that, you know, I didn't do much of until later.
Steve: Right. And, like like, for me, the things I've talked about, you know, where I learned the most were the after hours. Right? So I would go to these Craig project conferences. And, right, I was like, okay.
That guy that's doing 300 houses a year, what What's he doing? Yeah. What's he doing? Right? And I talked to him, like, hey.
Omar: You know, like, where are you
Steve: getting your data? Or not your data data. Like like, which marketing is working best for you? Right? Are you doing direct mail?
Are you doing just sign writers? Like, in the news? Like, what's working for you? Right? And, like, you know, you came here today.
You remarked that you liked how that we have the sign out there. Right? That's Details. That's back from the Procter days. Right?
For a VIP buyer program
Omar: It was so many times. Yeah. Right?
Steve: And I'm gonna ask you to sign a buyer broker, which everyone's freaking out about right now.
Omar: Right? Yes. We had to do that way before.
Steve: Yeah. Yeah. Proctor had us trained on that. Yep. Right?
And was like, if I'm gonna ask you to sign a buyer broker Agreement. That I'm gonna get a three and a half percent commission, right, Then I need to give you the VIP experience. So from the moment you walk up, you see a sign with your name on it. Right? I didn't go as far as some of the other guys like John Glush with with Proctor stuff, but, like, they have, like, the picture of the buyer before they walked in.
So the receptionist could say, Omar, welcome. Right? And they come in and, like, have, like, a so we have, like, coffee and, like, the Arizona tea and the waters, right, in the green room. Right. But they had, like, you know, like, your favorite drink.
Like, they knew your drink before you came in. So, like, when
Omar: you sat down Like, wow. This is a touch. Right.
Steve: So Yeah. But, like, all that stuff came back It did. On the Procter days. Yeah. And then one last thing.
I I have a note here. So there was a very special conversation you had with your father, about buying real estate.
Omar: Yeah.
Steve: Did you wanna, share some more about that?
Omar: Yeah. You know, bought my first house at 24 and not because I wanted to buy a house. Mhmm. Didn't just got licensed at 23. And then at 24, you know, my dad said, hey, Michal.
You don't you have to like, you gotta figure out a way to buy real estate. And coming from my dad, we lost two houses, three houses, he did, to start the restaurant.
Steve: Mhmm.
Omar: And I remember West 21st Street in San Bernardino. For you guys that know San Bernardino, it's not the best area at all. It was a cool cul de sac next to Home Depot. But we had the main house that we lived in and then the two rentals across the street that he only owed, like, $30 on. And that was it.
And we couldn't afford the mortgages and because he opened up the restaurant. And Mhmm. He told me, he's like, hey, Michael. You're not gonna do the same thing I did. And, he forced me to buy that first house at twenty four.
Steve: Mhmm.
Omar: And still own it today. And yeah. That's pretty Yeah.
Steve: And I have a lot more doors now. Yeah. A lot more doors. Yeah. So sage advice, from dad.
So talk to me today, like, flipping houses. Like, what does that look like today? Right? Because you're flipping I mean, you flipped hundreds
Omar: of houses. Mhmm. Alright.
Steve: So let's talk about, like, the operations. You got sixty minute offer? Sixty minute cash offer.
Omar: Sixty minute cash offer. Sixty minute cash offer. Wholesale company.
Steve: Sixty minute cash offer. So is that the first step to all the flips you do? No. Alright. So let's talk about your flips, and then let's talk about six minute cash offer.
Yeah.
Omar: How are
Steve: you flipping houses right now?
Omar: So the initial part was, obviously, I got my LLC, and then we obviously started trying to find the distressed sellers, trying to find sellers that wanna sell quickly, Procter days. And I just established a team. Mhmm. And I created and I and it's been a just a just an uphill battle, roller coaster of cruise. But, you know, at one point, we had four cruise.
We're down to three. And now those three are just solid. Yeah. Like, I don't have to do much anymore. Like, I there's houses I haven't even seen that we're flipping Mhmm.
Which is phenomenal. Yeah. It I go and see it when the staging's done. Mhmm. I'm like, this is great.
Love it. Good system. But it wasn't like that the whole time. But now, I mean, now it's a good process. We got eight or nine projects going now that we've done pretty well for this year Mhmm.
You know, that we've closed. So
Steve: So where, so step one. Right? So how are you sourcing the properties to flip?
Omar: It depends on location, and where we're gonna get these people. Like, I mean, the list you're saying or just the people in general?
Steve: Just yeah. Right. Because there's all different ways. Right? Because you're known.
Mhmm.
Omar: You're a known commodity, known asset Now. Yeah. Inside your market.
Steve: Yeah. Right? So a majority of your flips are these because
Omar: are they Referrals. Referrals. Referrals from wholesalers, friends and family. No. Check this out.
Referrals from clients that I represented as buyers Mhmm. Or represented as sellers. Mhmm. I would always tell them. They'd always see my stuff.
I would always pitch them. If you know anybody that wants to sell quickly, let me know. I'll take care of you. I'll take care of you. I'll take care of you.
Gotcha. Primarily, my this year, probably about seven flips came from just relationships.
Steve: Word-of-mouth.
Omar: Word-of-mouth. Gotcha. From database that I've already, what do you call it?
Steve: We've been managing for twenty plus years. Yeah.
Omar: Right? Correct.
Steve: Right. And, before we continue there, you mentioned earlier, and I I don't know if this is right. You still use follow-up boss.
Omar: I use Follow-up Boss. I use your CRM. Right now, currently? Yeah. That's my CRM for Follow-up Boss, and that's, like, the newer like, something new over the last, I'm gonna say, what, four years
Steve: Mhmm. Ish? Yeah. And I bring this up because Follow-up Boss, I used to use it. It's simple.
It's clean, and it works.
Omar: It just works.
Steve: Right? Whereas, you know, people are looking at Podio, Salesforce. I heard someone yesterday saying they're switching to HubSpot. There is are you simple? And, like, there's nothing wrong with any of these CRMs.
Like, they're they're good. But it's just fascinating. Like, you're running, like, a solid business Yes. And you're just using a simple CRM.
Omar: But I will tell you, it was an Excel spreadsheet before on the regular traditional side. Mhmm. I got follow-up boss for the traditional side of real estate. Right. Only traditional dripping, dripping, dripping.
We got 15,000 leads in there that just continue to get dripped, And, you know, they cultivate. I got the team calling, and it's a good setup. You know, I can't I couldn't do it without, JP, one of my main guys who's, you know, handling it all. But as far as the wholesale side, we did use Podio. Mhmm.
K? And then our wholesale side completely, we moved from Podio to RE simply, and then we love RE simply on the wholesale side.
Steve: So you have two different CRMs. One for traditional Yes. One for wholesale. Yep. Gotcha.
Okay. But you're sourcing these deals from your follow-up boss.
Omar: A lot of deals come from follow-up boss. The for personal flips and and buying holds that I take down.
Steve: So it's fascinating. So you got that. Alright. So then you take it down. You buy it.
Right? And from there, then you got you said three crews. So what's the process? Right? Like, you talk to a homeowner.
Yep. I'm gonna I'm gonna buy this house. Yep. Right? So you buy the house.
They move out. What's the process to get the whole flip started?
Omar: As soon as they move out, I my somebody else puts up a lockbox.
Steve: Mhmm.
Omar: They know the process. My guys go over there. Mhmm. You know, if if we need to get a roll off or, you know, get the guys to empty out the house first, because most of the time, the sellers leave everything. Right.
I tell them to leave everything because then we get a bigger discount. Mhmm. So, the process is cleaning out the property. Then, you know, if they have questions about, like, the moving walls or opening up the kitchen or certain things, then they'll say, hey. Oh, I need you to come over here, walk it with me one time.
So you're the layout guy.
Steve: You're You're the one that's looking at the floor plan. You're the one that has a vision Yeah. For the flip.
Omar: Yes. Gotcha. Mhmm. Okay. And the first few times, obviously, I'm there making sure that everything's good because there's a couple times that they've done a deal, and it's like, dude, you were supposed to remove that wall.
I didn't want this and fine.
Steve: You know? It's expensive to undo
Omar: Yes. Or redo. Yes. It is. Yeah.
So we do end up selling it just as is.
Steve: Right. So you come in there. You lay the vision. Yeah. Vision's laid.
How long from, like, the vision's laid to, like, everything getting done?
Omar: Now, I think with the guys that we have Mhmm. Start to finish, May 4 three to five weeks. Mhmm.
Steve: So
Omar: sometimes they've surprised me. Yeah. They get it done in three weeks.
Steve: Alright. And then who's listing it?
Omar: I
Steve: am. You're the realtor?
Omar: Yeah. Alright. And then Not under my own brokerage
Steve: either. That's why. How does that work?
Omar: Not I'm not the broker of record, I should say. Gotcha. Yeah. Gotcha.
Steve: Okay. So, but you take care you dealing with the buyer agents then?
Omar: No. So my other team deals with it. Yes.
Steve: Okay. Gotcha. Alright. And then, typically, I see from Flipbridge is, like, there's, like, one, two, or three different SKUs. Like, alright.
This is an a house. This is a b house. This is a c house. What do you guys do? Same thing?
Omar: Depends on location. Yep. A, b, or c. Majority of the time, it's always b's and c's. Mhmm.
Because that's the easy breezy quick flip under the median home price. If my exit's under the median home price or right about the median home price, maybe flirting 20 or 30 k Mhmm. So our median home price is 400 or 20 in our area. If we stay around that at the exit, they're gone. They're gone.
You start going north of that, it takes a little bit longer. Gotcha. Yeah.
Steve: Any nightmare stories in your flipping journey? Yeah.
Omar: Thinking that you're flipping isn't going to come to an end and you have a good run of nothing but positives, you know, you're profiting profiting. Like, you anything that you freaking touch, you're you're turning to sold. Right? Like that
Steve: cliche saying? Yeah. That might as touch.
Omar: Right. That's when you know that you're about to fuck up. Because it got to your head. You start investing in other markets that you don't really freaking know, and that's what happened. Yeah.
Yeah. So I went to Joshua Tree. How far is that? Joshua Tree is a very it's like Yucca Valley Joshua Tree over there by Palm Springs.
Steve: It's almost middle of nowhere.
Omar: Middle of nowhere. K? But really nice stars at night.
Steve: I've heard it's great for, like, if you're gonna do shrimps. That's what I've heard.
Omar: Oh, yeah. I've not done shrimps, so I couldn't tell you.
Steve: I'm just telling you. Like, I have friends like, hey. We went to go to Joshua Tree to do shrimps. Like, okay. That's interesting.
Omar: Yeah. And it's a trip because, you know, like No pun intended. The the market out there was phenomenal, but, again, everything was great when it was a 3% interest rate.
Steve: Mhmm.
Omar: Everything. And then the Airbnb market after 2020 just threw I mean, it went through the roof. Right. Right? Because then we haven't talked about the Airbnb side of it.
So everybody went out to Joshua Tree, desolate areas to go and flip or go and buy and hold and do the whole Airbnb market. Well, I thought I would join the crew Mhmm. And do the same.
Steve: Get in on the excitement. Get in on the
Omar: Yes. And we did well for two times, and, you know, made a 100 and some thousand dollars on a piece of just small little house. And I was like, this is great. I'm gonna keep on doing this. And I did it again, and then the profit went down to, like, 50 or 60 k.
And then I lost a buck 10 on one deal. How much? $110,000 on one transaction. I had to pay to close the transaction. Not a 110 out of my pocket, but I had to pay another 30 or 40 k out of my pocket, which equated to the 110,000 loss.
And, of course, I was just so pissed, and that was, like, a big, like, gut check. Yeah. And I would tell everybody. And I and I let everybody know, hey. I lost a $110,000.
Don't don't fucking do this. Like, don't get so confident that all your flips are gonna do phenomenal. Mhmm. Stick to what you know in your area. And if you wanna exceed your area, like, make sure that you're buying it so well that you can't lose.
Steve: Yeah. It's hard to stay disciplined, though, to buy it well when everyone's buying. Like, that's the hardest part. Right?
Omar: Yeah. When they're buying 80%. Yeah.
Steve: Like, you gotta compete. No way. But you also gotta be disciplined. Like, what do you do? Because, like, you can't be disciplined and and compete.
No. It's hard. You can,
Omar: but you yeah. Because it
Steve: It's harder.
Omar: Yeah. Because you gotta be okay with not getting the deal. Right. The best deal is the deal that you don't buy
Steve: Mhmm.
Omar: Sometimes. Yeah. Yeah.
Steve: Gotcha. So that was going outside your market was one of the big lessons. Yeah. Any other major lessons for
Omar: everyone that's watching? Partnerships. Partnerships, people that you bring in to your area and your knowledge, and they're not on the same page as you. You wanna teach them, help them go through the process, and they may not have the same vision. Mhmm.
They might just look at it and be like, oh, I could do this too. Mhmm. Cool. Well, then you end up finding out later that you helped somebody make a bunch of money, and the next thing you know, like, they backdoor you and then they talk shit. It's it's your fault.
It's like, dude, though. Wait. Really? Okay. That's why partnerships are kinda tough.
Steve: Partnerships are really tough. I mean, like, even if you have the same exact core values, you have different visions, it doesn't work. Mhmm. Right? If you wanna It has to be the same.
If you wanna do 1,000,000 a year in revenue, another guy wants to do, 5,000,000 a year in revenue, it's gonna be very different really fast. One person's gonna get really impatient, the other person's gonna get frustrated. Right? Because the person that's
Omar: getting frustrated can't catch up. Mhmm.
Steve: Yeah. I mean, I can say for myself, like, where I struggled in a previous partnership was, I wanted more profit to take home.
Omar: As all of us do, Steve. It will appear. It will appear. Right?
Steve: Right. But that's kinda like how
Omar: It's complacency, though. I I could see that.
Steve: Yeah. Right? It's like, well, we're doing good enough. It's like
Omar: good enough doesn't
Steve: It's good enough. Or or you know, I'm just keeping up with the Joneses. Right? So it's totally on me. Like, I see, like, all my friends, how they're doing.
It's like, they don't know we. They don't know more than us. No? They're just better operators than us. That's it.
And we know what it takes to be as good operators. Why are we not doing that? And that was the incessant question that I I kept asking. And then speaking of nightmares, I shared a video with you earlier today. You did.
Omar: You did. That happened today. Crazy. I I still can't believe it. People do it reminds me of of something that I would see as a in REO days of two this for sure.
02/2010, and I'm we're seeing it right now in 2024.
Steve: Yeah. Just so We'll see. We'll figure out. If you guys comment if we have enough comments on this YouTube video right. If you get enough comments We will.
If you guys have enough if we have enough people asking for it, we'll share it. I I could not believe that happened today. Wow. Yeah.
Omar: When you At lunch. You know? Crazy.
Steve: And then, you also have sixty minute cash offer. So you get the flipping side, you get the realtor side
Omar: Yeah.
Steve: And then you got the wholesale side. Yeah. So talk to me about the wholesale side.
Omar: Well, before we get into the the that wholesale side and and just for context, you know, the regular real estate business has always been great, you know, buying and selling or helping buyers and sellers. You know, but then you take a backdoor, something has to give. You know? So that kinda slowed down a little bit, and I increased more of my flipping. Mhmm.
But then I'm like, all this capital going out. Tons of capital going out to fund all these flips. And then you can borrow, you know, from other private, you know, investors
Steve: Mhmm.
Omar: To cover this and that. And then it's like, you know what? Why aren't we working smarter? That's when we decided to create you know? First, it was cash offer in sixty minutes.
Mhmm. And then we then we rebranded and said sixty minute cash offer, which is a cool freaking brand.
Steve: Mhmm. You're almost like Domino's. Yeah. Right? Thirty minutes or less or thirty.
Omar: Right. Right. Yeah. And but now everybody wants it faster than sixty minutes. So I'm sorry.
If you guys want a freaking offer in ten minutes, then I'll give you one, but you're not gonna like the price. But so, yeah, that's our wholesale company. Myself, my brother, as the, you know, operate operational, person. So my operator. And then, you know, we have JP.
We have Isaac. We have few cold callers, and we're on track. This is two years in the making. Mhmm. Our this this year are will will break over over 7 figures, which is cool.
Steve: That's awesome.
Omar: We had crazy months, two crazy months of, like, 4 to 500 k. Awesome. And I was like, dude, this is nuts. And it's just all about providing the solution for the seller. Mhmm.
Because we don't know until you dig deep and you find out what kind of person they are. Mhmm. Like Ferry, the four personality types. Yeah. And just provide that solution.
So, yeah, with our sixty minute cash offer right now, we're we're trending for, you know, one one four, one five.
Steve: Yeah. Is that where is where are you predominantly getting the leads? Because that's the brand. Right? So that's the they know the brand, but how are they finding out about the brand?
Omar: Well, cold callers
Steve: Mhmm.
Omar: With with with the list that we have.
Steve: Mhmm.
Omar: You You know? And it's it's heavy. It's, you know, it's it's a process, guys. So anybody wants to start wholesaling, be prepared to spend a lot of money in the very beginning to keep up with everything. If you don't have enough patience and you don't have enough resources to keep feeding the machine until it hits, then you're gonna be out of the wholesale game quickly.
Yeah. And you could, you know, you can relate. So, it's cold calling, PPC, and, you know, just, regular, marketing. Mhmm.
Steve: Then you started doing billboards.
Omar: Yeah. So this is gonna be a different, you know, we did one billboard. Check this out. We did one billboard on a lot that I ended up buying. I bought this piece of I bought this house with a lot that was existing from a referral.
Mhmm. And I'm like, I get this extra lot plus the house. Okay. Cool. And immediately, I thought about, alright.
I'm just gonna sell the the house, keep the lot for free. That's, you know, $60.70 k.
Steve: Mhmm. So we
Omar: ended up flipping the house. We made, like, 40 or 50. Nothing crazy. But the lot was in a great corner, and we put a big ass bill.
Steve: Mhmm.
Omar: It said sixty minute cash offer, my little face on it, and all these things. If you're going through a divorce, you know, problem tenants, inheritance, all the BS, you know, everything that people go through. I've gotten two calls. Mhmm. Well, more calls, but two deals out of it, and those two deals were $80.
So that thousand dollar investment on that little billboard Mhmm. Paid us 80 times Yeah. Which is phenomenal. So then I said, it's like, why not do a bigger billboard and f it. Let's do it.
Mhmm. So we're coming out with a new brand, in addition to sixty minute cash offer. And you guys will see it soon. Probably already up today. It's sell to Omar.
Mhmm. And don't fix your home. Sell it as is. Sell to omar.com. Yeah.
Pretty freaking rad.
Steve: Are you going to Looking forward to it. I'm looking forward to it as well. Yeah. And you have to post it, obviously, all over your social media.
Omar: I'm going to everywhere. Yeah.
Steve: Going back to our USP earlier, are you gonna put a USP in there?
Omar: I guess the USP that's there already is don't fix your home. Mhmm. Sell it, yeah, sell to omar.com. Yeah. So sell it as is.
Don't fix your home. Sell it as is. That's it. That would technically be a unique selling proposition because you don't want people to fix their houses. You just want them to sell it as is.
Right. That's it. Very simple on the on the freeway, though.
Steve: I'm thinking something along the lines of, like, you know, the sixty minutes or the you know?
Omar: I could do that. Yes.
Steve: I'm just curious. Right? Because, like, the the thing to get them to to to wanna jump up and,
Omar: like The hook.
Steve: Yeah. Right? Because, you know, it was like your home sold or I'll buy it. You know, your home sold or get cash guaranteed. What was it?
Omar: Your home sold or I'll buy it for cash. Mhmm.
Steve: Right. So this is, you know, just kinda going through my mind. And then, along the way, you also started a title company.
Omar: Yes. It it not a title company. It's
Steve: Escrow company.
Omar: Title is in in in Arizona. Yeah. California is funny. California has escrow and title. Yeah.
K? So title company, Chicago First American, you know, Tycor, all these title companies. Alright. So you're technically paying double. So the seller and the buyer pay the title insurance on the property.
Mhmm. And then the seller and buyer pay escrow fees Right. In addition to the title fee. Mhmm. And, yeah, I opened up a, an escrow company.
Yeah. About two years ago. Yeah.
Steve: Investor friendly escrow company. So
Omar: The investor friendly escrow company, trust1escrow.com. Check it out.
Steve: I got trust1escrow.com.
Omar: Mhmm.
Steve: And thank you for clarifying that because in Arizona, title and escrow is the same company. Yeah. They're two different companies, but no one knows. Right? Like so let's see.
I started my title company. I wanna say 2017. Right? And when I started the title company in 2017, I had no idea that title and escrow are two different companies.
Omar: Two two different, invoices. Yeah.
Steve: Yeah. Yeah. Because on the settlement statement, it just says escrow comp like, you know, escrow processing fee Yeah. And then title and insurance. Right?
But I never asked why they're two different fees. It was just the way it is because that's the way it is in Arizona. Right. Right? And then we start a title company.
I was like, okay. We'll handle the escrow, and you're the title. I was like, what do you mean? Like, well, the escrow has to work with the title company. And I was like, what do you mean?
And they had to break it down to me. So, like, I bought into a title insurance company, not exactly understanding nuance. Because for me, the escrow officer because you always talk to the escrow officer.
Omar: Always. You never talk to the title.
Steve: No one talks to the title officer. Right? But I just assumed because there's always one company in Arizona Mhmm. Or one, brick and mortar location that would always have House houseboats. Bureau.
Omar: Yes. And
Steve: yeah. Because, like, it's funny. Like, Texas and California are the two states that are so, like, respa sensitive.
Omar: Mhmm.
Steve: Right? Like, title company cannot take you to lunch or, like, they cannot provide value in any way. Like, we talk about leave with value, leave with value, leave with title companies in California, Texas cannot leave with value. Nope. That is a state crime.
Omar: It it you know what's crazy? It is. Like, you you yourself as the escrow or title person can't go take somebody out. It's wild. Well but but definitely a management company can.
Steve: So what does that mean? Management company?
Omar: The management company that houses multiple businesses. Mhmm. So the management company can go take So,
Steve: like, the holdings company? Correct. Like, the one above? Yeah. Okay.
Yeah. See, I never got that far. Because I remember, like, again, going back to REO days. Right? So I was at ARIA right there, Arizona Real Estate Agents Association.
And I was talking to these people. I was like, yeah. You know, like, have your title company because, like, from the Proctor days, just have the title company. Just split the marketing.
Omar: They did it all, man.
Steve: But they were, like, every every time I talk to the to the title part, they're like, oh, we don't know. Like, they're always terrified.
Omar: What's crazy back then
Steve: Mhmm.
Omar: Every title rep and or escrow would pay everything. Mhmm.
Steve: Well, the official answer was they would do nothing.
Omar: Yeah. Well, until the respite came out and after, you know, after the crash. Yeah. After the crash, they, like, locked down everything and started looking at everything
Steve: And that I came along after the crash. Yeah. Yeah. So, so you got a lot your hands full in a lot of different, jars. So how do you stay focused?
Omar: That's so it's just that's a good question. How do we stay focused with all of it? There's one thing I'll tell you. There's multiple things I can tell you. But if there's something that comes across your desk and it needs to happen, just fucking take care of it right then and
Steve: there. Mhmm.
Omar: Literally. And even though you might allocate, especially in the Mike Ferry days, no. You're gonna put up a sign and say, no. Do not disturb. I'm prospecting.
Steve: Mhmm.
Omar: And you're prospecting for two hours outgoing calls only, nothing coming in. I guess you could take that as well if you're like, on like, I break down this. If I'm looking at all my investments and my flips that are going, I go through it and say, alright. We're and I don't have no other distraction. So I go through this, finish it with my assistant.
Okay. You know what to do. Alright. Awesome. Then I'll switch gears into the wholesale side.
If I have to go dispo two or three contracts, if I have to go make a couple offers, I mean, is it the best allocated time for me? No. But somebody has to do it Mhmm. Until I get somebody in the chair. Right.
So it's really focusing on the tasks that are the most important that are closest to the money. Closest to the money to me is what you have to do first and foremost. Mhmm. Period. Because without you creating that income coming in, you can't pay all your employees.
Yeah. So you need to take care of that. And and that goes for everything, for the escrow company, for the wholesale side, for the retail side, for my fix and flip business, and then not to mention, you know, all the rentals that we manage. So
Steve: Right. Yeah. Yeah. It's crazy. So, I'm hearing some time blocking.
I'm hearing prioritizing the activities. Closest to the money. Right. So, you say closest to the money. What we've talked about in the past is income generating activities.
Omar: RPA, revenue producing activities. Yeah.
Steve: Yeah. So is that what you mean by that? Or do you mean something else?
Omar: Okay. So let's say for instance
Steve: of money could be misconstrued as putting out a fire so escrow closes today. Okay.
Omar: That could be misconstrued that way too.
Steve: But I just wanted clarification.
Omar: I would say both because if your revenue producing activities, revenue producing activities is getting on the phone with sellers. Mhmm. Yeah. Go and send an offer. Yeah.
So go send an offer. Mhmm. That's the lead flow that you need, the blood flow as to say. Absolutely. Closest to the money is that, hey.
You have these leads coming in, but you have a freaking big ass gouge in your leg that you gotta fix before the more leads come in.
Steve: Mhmm.
Omar: But you need the leads to come in so you don't freaking bleed out. You still have enough, you know, blood coming through. Closes to the money, fix the shit so it can close. And then as all the leads come in, you can start okay. Now you're getting a little more healthier.
Got it. So plug the holes, I should say.
Steve: The triage.
Omar: 100%. Gotcha. Yep. Okay.
Steve: So what does your business look like today versus when you first started?
Omar: When I first started, I was by myself. I was the TC. I was everything. I didn't even know what the hell a TC was, at that time because we our disclosures were carbon copies and all that good stuff. Man, you were in the carbon copies.
Yeah. I was. The three the three, pink, yellow, and white.
Steve: I was a, press hard. There's four copies.
Omar: True. How it looks like today? Yeah. Well, we have a TC. I have an assistant.
I have callers. We have runners now to put up boxes, take photos, do keys. I got, you know, guys that'll go fix the property, stagers. Yeah. It looks a lot different on the retail side.
Yeah. K? And as far as, like, the newest company on the wholesale side is, you you know, obviously, our acquisitions, our our COO, a few cold callers, lead manager to funnel all the leads and set the appointments.
Steve: You know, I'm realizing right now. Everyone that's watching this that comes from the Instagram era, because we came from
Omar: Regular. Like, no social or whatever era. That's it.
Steve: Right? All our people that came from the Instagram era probably have no idea what we're talking about when we say press hard. There's four copies.
Omar: They they don't. Our purchase agreement, guys, our listing agreement was four copies, five pages long. That was it. Maybe no. It was, like, three pages when I first started.
To to list to list anything was three pages.
Steve: Copy for you, copy for me, copy for my broker. I don't remember what the fourth one was for.
Omar: Copy for, maybe the file. I don't remember.
Steve: I don't know. I just remember there was always four copies.
Omar: Yeah. Press hard, like you said. Four copies. Yeah.
Steve: And then, you know, one thing we didn't touch on, but, like, the thing that probably what helped me the most from the REO days Yeah. Was learning to manage a team. Right? Having an admin like, evicting people sucked. Right?
Driving by the properties to take photos sucked. BPOs. Yeah. Right? Mhmm.
So I had my guy, Rick. And Rick became my, evicting guy Mhmm. And then the property check guy. Mhmm. Right?
And it wasn't just me. He had multiple REO agents. Right? But, hey, Rick. I got a new listing.
Can you go knock on this door? And, like and he's asking, is this Bank of America, Wells Fargo, or Fannie Mae? Because they had different signs.
Omar: Right. Right.
Steve: Right? And so he had he'd have the ones in his car, and he just go up. He just tape it to the door. Take picture. So awesome.
Send it to me.
Omar: Yep. Right? And then, Upload it to the dashboard?
Steve: Yeah. Right. Go to Equator.
Omar: Upload it. Oh, yeah. Equator.
Steve: Right? And so there was that, but then also, like, he was the one that had to talk to them, and he was the one that would do the property check every other week. Take all you know, take a photo of every bedroom, label the photos correctly so I can go upload it. Right? But and then someone else to make sure the invoicing was done right.
Because, again, that one thing I
Omar: was worried about was invoicing.
Steve: Yep. Right? And so, like, having someone in these different seats was required if you're managing multiple properties. Required. Right?
So in 2009 you know, I started in 2007 as a complete knucklehead. Right? I just did everything myself. But once again, REO is like, I have to hire this person. I have to hire them.
Omar: You were forced to do it quickly.
Steve: You didn't have a you didn't have a choice. Uh-uh.
Omar: Yeah. If you wanted to succeed, no.
Steve: Right. So that experience carried on really well. What does your life look like today? You spent countless weeks going back and forth with the homeowner only to lose a deal because the seller changed their mind, another wholesaler made an unreasonable offer, or what the seller needs from the sale, you just can't pay. Now imagine you've got the ultimate control on a property that you just locked up, meaning you're on title and every decision has to go through you eliminating virtually every external threat.
That's why the installment method was created. Through installment payments, you have full control of the property as your name is now on the title. Any decision the seller wants to make now has to be approved by you. No longer can they pull out equity, go with another buyer, or change their mind. And manage and combining the best creative financing with the flexibility of marketing the property on the MLS to collect the most amount of revenue possible, all while having total control of the property.
This is just a tip of the iceberg. The concept here is simple, but implementing is challenging. So visit wholesale2024.com to learn more so that you'll never have another deal blow up. That experience carried out really well. What does your life look like today?
Omar: Well, today, I'm 45 years old. I have a beautiful family. I have a 17 year old daughter that just, went into college at Vanguard in Costa Mesa, hence why we moved to Orange County. Mhmm. And my beautiful lady, Alyssa, our four year old daughter, Gianna, our two year old daughter, Mila, and then our six month old son finally got the boy, Luciano Gustavo, after my dad.
Awesome. Very cool. So it's cool, man.
Steve: What freedom does real estate afford you?
Omar: Freedom that real estate gives me. Is it really freedom? Because we're on our phone all the time. But, yeah, as far as financially, it's been awesome. Mhmm.
It's been a godsend to be able to make decisions, you know, put her in college, put my oldest daughter in college, have the extra resources to help family, you know, to be able to move like we've done, and to truly live off of the passive income that I've created from all the rentals.
Steve: Mhmm.
Omar: Like, it covers all of our bills. It's like so anything else that we make is profitable, and we can go reinvest it. So if anyone's out there wondering, like, does it create cash flow? Does it create freedom? It does, but it takes a really long time.
Steve: Mhmm.
Omar: It's not tomorrow, and you get lucky and and wholesale. Like, if I did it all over again, I'd wholesale from day one. Just it's easier. And buying assets early on and knowing that you're gonna hold them for a while, especially in California, or anywhere you're at, I mean, it's all about the cash flow. So it's it's been it's been awesome.
I'm not gonna So It's a crazy ass roller coaster, though.
Steve: So So could you stop working today if you wanted to?
Omar: Yeah. Yeah. Gotcha. Do I want to? Heck no.
What what what am I gonna do? Like, honestly, like, you know, and I thought about it, and I tell my my lady this. It's like, do we just sell it and just live off of, like, a few properties that we have that that are paid off, that that we have the cash flow? And it's like but the thing is it's like there's another level. Like, we just talked about it before.
Mhmm. Like, your $1,000,000 goal to $5,000,000 goal. Mhmm.
Steve: You
Omar: know? So if I wanna get to $20,000,000 a year, you know, I'm not retiring. No. You just gotta evolve. You gotta start being creative.
You gotta buy back your time. And that's one book. Yeah. By Dan Martell
Steve: Mhmm.
Omar: That I've read, like, five times at least and listened to it, like, profusely on Audible Mhmm. To just instill it in my brain is buying back your time. Because what's the point of working all this stuff if you can't delegate and you can't literally buy back your time to do everything? The minute you do that Mhmm. Everything else will make sense, and you'll be like, oh, shit.
What do I do? You'll start understanding. You said it yourself earlier at lunch that you're starting to be more strategic, and you start thinking clearly when you don't have other crap in your brain.
Steve: Right. And when you don't have a fire around you.
Omar: I don't know. And what what are fires? All the flips that we have Mhmm. Or the listings that we take, you know, and now we can be more strategic and creative. So Yeah.
Yeah. What would
Steve: you do if money was no object?
Omar: If money was no object, I'd be the biggest hard money lender there is in all of the nation. Yeah. For sure. 100%.
Steve: Hard money go for in California in Orange County?
Omar: It goes, you know, a point, two points per deal, plus, you know, 15% depending,
Steve: you
Omar: know, credit wise. You you know, 20% down, 10% down depending. You know? I mean, I I borrow I borrow at 90% with one point and a thousand dollar processing fee.
Steve: Yeah.
Omar: But, Jesus, like, it's one of these things where if money was no object, I'd definitely go buy every single, hard money lender there is and buy their book of business, and they'll create it. Now you're making phenomenal money.
Steve: Yeah. They're a lot better than, CDs or S and P.
Omar: Oh my gosh. All all day. Like, it'll trump it. For the long term, obviously, you know, set it and forget it. But are you really setting it and forgetting it?
No. You're setting it, and you're, like, navigating it. That's what you're doing.
Steve: Yeah. That's, the dream. Right? It's like you kinda go through these different iterations. Right?
Like, first, I'm gonna buy some properties Mhmm. And I'm gonna work it up. Then it's like, I'm gonna turn it into a commercial property. It's like, no. I don't wanna do anymore.
And I was like, well, maybe
Omar: I'll do multifamily.
Steve: Yeah. Man. Whatever. Like, hard money? Man.
Like, that is a money printing machine, especially transactional funding.
Omar: Oh, transactional funding, you could charge just just retarded. I've done a couple of transactional fundings with some of the funds, and it's like, this is awesome. Yeah. That and you know what? I don't mind this.
Super super passive. But a couple, notes I've taken.
Steve: Mhmm.
Omar: You know, I got some properties out there that I'm carrying notes on, and they're not seven or 8%. They're 12. Yeah. So a percent a month. That's just something that you just have to think about, 1% a month.
You lend out $600,000, you're getting $6,000 a month.
Steve: Yeah. Pretty awesome.
Omar: Yeah.
Steve: What's your epic life goal?
Omar: Honestly, to be, I guess, I I I could say, you know, to be satisfied. Right? Mhmm. But we're never satisfied.
Steve: Mhmm.
Omar: Because we're always I'm not gonna say we're always chasing, but we're always trying to become the better version of ourselves. Right. Another year from now, two years from now,
Steve: the next year journey.
Omar: Never ending journey because I feel like if you stop, then what is it to chase? Mhmm. Okay? Do you wanna get better? I mean, to me, the goal is to continuously improve, but bring the people with me Right.
To improve, not just solo. So you don't wanna be up at the top of the mountain by yourself. No. Absolutely not. You wanna bring the people with you.
You know? You wanna bring the even to my tenants that have become friends, family. You know, my first renter, like I said, like, I see him growing, sold him a property. I'm seeing him, like, become an investor Yeah. Now.
It's incredibly rewarding. Oh, a 100%. I mean, my my brother or my my sister, see her grow, to see my brother grow and actually start understanding the game. Mhmm. You know, even to to our videographer, Bobby.
Bobby's here, and he's like, you know, he's learning all this stuff. So it's you wanna bring everybody with you.
Steve: Well, I love that part you're talking about with your brother and sister because it goes back to what your dad told you. Right? So, like, you're real you're not just doing it for yourself now to to satisfy your dad's wishes, but you're also doing it for your brother and sister.
Omar: Yeah. And, honestly, like, you know and I'm I'm a tell you this, guys. Your family is is super important as much as you probably have a great relationship with them or or you don't have a relationship with them because I know a lot of people with families that are all fucked up. Mhmm. And we're all fucked up in some sort of way.
But at the end of the day, it's like they're still your brother, still your sister. You still wanna make you know, you wanna make them you wanna see what's possible for them. You wanna pressure them. You wanna push them, you you know, and take care of your mom, take care of your dad. Why don't you still have your mom and dad?
So that's the hardest part, though. You know? I'll tell you that, Steve. Like, the the you know, after my dad passed, you fill some shoes, but then you start realizing that, you know, you you don't have to fill your dad's shoes. Right.
You have to fill your shoes for your family. You have to fill you have to show up for your kids because he shoot he showed up for us. Mhmm. Right? His dad didn't show up for us.
That makes sense. Mhmm. He showed up for us. So at the end of the day, yes, take care of your immediate family, your brother, your sister, your mom, your dad. But if you have kids, your primary focus now is them.
Right. Because they have nobody else except you. So that's a really hard transition.
Steve: Mhmm.
Omar: You lose a parent, and you still have one of the parents there, my mom. And it's like, okay. You know, you you get it's it's a decision you gotta make. Right. And, of course, being in our positions, we're doing it all.
Fuck it. Let's go. Mhmm.
Steve: We're
Omar: gonna help you. We're gonna help you. We're gonna help everyone at the same time. Your your time spread thin. Your time allocations here, here, here, and here, but at least you're doing the best you can.
Yeah. That's how I see.
Steve: What is your biggest struggle today?
Omar: Again, biggest struggle is this is a big one I think everybody faces. Do are we enough are we enough to truly get to that next level? Yeah. You know, our own you know, we are our own worst enemy Mhmm. When it comes to creating, like, am I really the $20,000,000 a year guy?
Can I be? Mhmm. Yeah. Sure. But we can say it to ourselves.
Right? But getting there is a fucking journey that we have not been through yet.
Steve: Yeah. It's the biggest mental game.
Omar: Yes. Right? Mhmm. Like,
Steve: before we got into this, we would wish we had the life we have today.
Omar: Right? So true. Like, other people would die to be in our shoes.
Steve: But But there are some days we get we wake up, but, like, man, why is this so hard? Mhmm. Right? Like, you might think, like, man, screw it. Like, I'm just gonna, like, burn it all, start over by myself.
Omar: Do you know how many times I've said that? Like, screw this shit. I'm done. Selling it all. I tell them, I'm done.
Sell selling it. We'll have one house paid for fucking tons of money in the bank. Yeah. Then what? Then what?
Steve: Exactly. Right? But that's the the struggle. Right? Like, do we have enough?
Do we have enough? Do we know enough? Do we know enough people? Do we have the tools and resources? Because, like
Omar: Do we have enough faith in us too? Yeah. That's the other part. Right?
Steve: Like, we think, like, can we make a million dollars as your net? Right? Sure.
Omar: Yeah.
Steve: You talk to Elon Musk. He's He's not asking us that question.
Omar: Oh my gosh.
Steve: Can I clear a million net this year?
Omar: How about a million a day or every half an hour? Right?
Steve: Yeah. So, like, the question really comes down to what are we capable of. Right. Yeah. And what do we believe that we're capable of too?
Because that's what really determines everything else.
Omar: Yeah. It it it it does. It's like what your mind can conceive, it can achieve. Right? So Yeah.
If you can conceive it, right, thinking about it, sure, it could be achieved, but it's easier said than done. Oh, yeah. We still have to go through that process, man.
Steve: It's the hardest thing. I mean, I've been working on it, and I was like, I said this on on the show that, like, the last few episodes, like, you know, you talked to me, like, twenty years ago. I'm talking about mindset. It's like this mindset stuff. Like, I got it.
Oh, yeah. That's the last thing I gotta worry about.
Omar: No. True that. Right? No. We were cocky for sure.
Like, no. I got this. I got this. Just give it to me. I'll do it.
Steve: But now where we are in the journey is like, man, like, this is, like, as far as we can go. Without the best we know, doing the best we can as far as we can go with everything we know. So now we gotta figure out how to get out of our way even more Right. To raise the bar.
Omar: Dang, dude. Yeah. It gives me the chills. Yeah. Because it's that uncharted waters that we're still we can still see it way out there Mhmm.
But we're not there yet.
Steve: Yeah. My coach says go as far as you can see, and then you can go from there. Alright.
Omar: Yeah. Because you keep chasing. You keep like, okay. I can still see some more. I can still see some more.
That's That's actually a good one. Repeat that again?
Steve: Go as far as you can see, and then you know where to go from there.
Omar: Oh, I see. That's good. Yeah. Yeah. I like that.
Steve: How do you measure success?
Omar: You know what? That's a great question. Forget about the finances. Mhmm. Is how your kids see you.
Yeah. How your kids see you, how your family sees you, how you show up for everyone else. You know, like Jim Rohn said it, you know, service to many leads to greatness. And I think the more you serve,
Steve: the more great you become. Yeah.
Omar: The money will the money the money is just gonna be the byproduct of you becoming better
Steve: Mhmm.
Omar: For everyone else. But then I also see it like, okay. You put everybody else first. What about you? Right.
They do say that you have to put the oxygen mask on yourself first.
Steve: Mhmm.
Omar: So then you're able to show up for your kid if something were to happen on a plane. Right. And, you know, I I definitely would measure it by the impact that you have on your immediate family, by being home, by showing them the example of what you've done. And, hopefully, it inspires them and, you know, they they, you know, they choose their path, but at least you inspire them to do something. Yeah.
Yeah.
Steve: What is your superpower? Finding solutions. Yeah. Can you give an example?
Omar: You know, early on, you know, it's like a puzzle. Like, I I see transactions as puzzles.
Steve: Mhmm.
Omar: And when you get good at putting puzzles together, you can try to figure out different avenues, and it's paid me the most. It's, it's given me the most, feedback from sellers. Mhmm. And that's you know, if if someone's faced with foreclosure and they need a little bit of extra money and they need this, they need that, they they don't really care about their credit. Obviously, this whole sub two, aspect that came about.
And I was doing sub two before I even knew PACE Morby. Right. Like, I still have properties in the portfolio from sub two because I like, hey. There's no if there's a due on sale clause, cool. So to answer your question about the example, it's just figuring out the best scenario for an issue Mhmm.
And finding the solution somehow, whether it's gonna be listing it, buying it, wrapping it, lending money. However we could figure out that deal to get them to their next destination and they're super happy about it, that's a win.
Steve: Yeah. That's my favorite part. Favorite part. Alright. Coming up with, like, alright.
Here's
Omar: The deal, man.
Steve: Here's how you do. Here's how we structure it, or you win, we win. Everybody's happy. Yeah. It's addicting.
Omar: It is. And and that's funny. You you bring out the, the remarkable, and I have it too. And I bring it to the appointments, and I'm breaking it down. I'm saying, hey.
This is what this is exactly how your setup is. Mhmm. Here you go. Alright. You know, same with when I'm borrowing money from private individuals.
Today, as a matter of fact, I got a text saying that they wired quarter mill Mhmm. To go buy the next three properties Right. Out of my money. Mhmm. And it's because of the of the remarkable.
I broke down I broke it down to their money sitting there, and it's not doing anything. And I can offer you this much money, and here you go. There it is. Yeah. Well, that's great.
It's bringing the it's literally bringing the solution to them.
Steve: And it's the that's what we get paid for. That's what we get we do all for. Yep. What is your biggest regret?
Omar: I say this a lot. Not putting myself in environments sooner. Mhmm.
Steve: Because I
Omar: was like the lone guy.
Steve: Alright. You can
Omar: do it ourselves. Fuck it. I'm gonna do it myself. My dad did it himself. He did it.
You know? The Mexican trait in us is just getting it done. We're hard workers. Mhmm. But we're laboring hard workers versus delegating hard workers.
Big difference.
Steve: Yeah.
Omar: And the biggest regret is not getting in rooms that stretch me early on in my career. Mhmm. That is the, I would say, the biggest regret for me.
Steve: I've heard people describe it as, was it, the machoism? Oh, yeah.
Omar: For sure.
Steve: It's like, I'm
Omar: I'm the I'm the Mexican tough guy. Like, give it to me. Let's go. I'll do it.
Steve: Yeah. Because that goes back to the question I was asking earlier. It's like, dude, like, Craig Parker was in your backyard. Like, I had to fly or drive, convince my wife to let me stay in hotel for a couple nights.
Omar: The macho guy that's Mexican, and I just took the, you know, your home sold guaranteed or buy it for cash. Mhmm. I just ran with it and said, why am I gonna go? Mhmm. And I went to the one.
I should've went to two, but that was it. I was like, I'm gonna do this. I'm just gonna execute as fast as possible before somebody else does.
Steve: Right.
Omar: And I jumped in it. Could I have been in the those environments? Could I have made other connections, Steve? Mhmm. Yes.
But I chose not to. I just chose to work.
Steve: You could've been hanging out with me and Kristen. Oh, dude.
Omar: Back then, that'd been cool.
Steve: And then what book have you gifted more than any other?
Omar: Buy Back Your Time.
Steve: Buy Back Your Time.
Omar: Oh. Yeah.
Steve: Supposed to have him come back out here. So he was out he was supposed to record a podcast. There was a mix up. So I'm waiting for him to come back out here. So, Danny, if you're watching, still wanna have you back on the show.
Badass book too.
Omar: Yeah. I mean Very great book. Yes. And I'll be and I'll be coming to you probably for for the coaching side of it because the guy's on another level.
Steve: Oh, he is?
Omar: He's on another level, and I'm I listen to him all the time, and it's just like, damn. Yeah. Just especially his story.
Steve: Yeah. I had someone on the, I was we do our regular client calls with our existing clients and, like, one on one calls. And they're like, you know, who are you learning from that I should learn from? Or who who is someone you were impressed with that you met recently? I was like, kinda went through the list, like and I mentioned, like, oh, yeah.
Dan Martell. He's like, who's that? Who's that? I was like, oh, I wrote the book, buy back your time. Got this SaaS thing.
He sold this company for multiple, like, multiple times. Multiple times. Yeah. The guy knows what it's like to build a business that's sellable.
Omar: Like, scalable. Scalable and sellable. Yes.
Steve: Right. So, yeah, definitely recommend Dan Martel. Alright. I want you to think about, last, why I want you to think about some last thoughts while I leave a quick message. Guys, if you get value today, please hit that subscribe button.
Give us a five star review on iTunes. Do not keep us a secret. We genuinely want to create more millionaires. Help us accomplish that mission, please. What are some of the last thoughts you wanna leave all the listeners with?
Omar: Guys, you know, you guys are listening to this podcast and, you know, appreciate the time, Steve. Thank you. There's a lot of things that you can get from it in regards to, you know, how you're starting now isn't your destination later or how you started now isn't gonna be your ending either. I'd say get yourself in in rooms as fast as possible. Ask more questions.
Humble yourself too because that's one thing that I'll I'll share with you is that if you think that you know it, you've already lost. That's one thing that and I'm twenty two, twenty three years in this business, and I know people that are only been in the business for five to ten years doing triple the amount that I've done in my tenure. So that comes with some humbling, you know, experiences and be like, damn. Like, if this guy can do it. This is why I truly think that if you guys are out there and you're wondering, like, what's the next step, go to the person that you wanna truly model after or go to somebody that has this success.
And I'm not gonna say ask them to shadow you, but pay for the course that they have. Pay for their time. Don't think about it being free because nothing is free. Otherwise, you'd be all over YouTube and figuring it out, and you'd be a millionaire already. So if that's not you, then, you know, truly need to understand that pay for someone's time.
Like, you have to because that is the quickest way to avoid failures, avoid issues that you, like, are gonna inevitably go through. But if you can cut the curve, then why not? Honestly, like, I mean, there's so much to give, Steve. I mean, you've given so much, you know, through the years of sales training and just your word and your advice and and the way your brain thinks that just being part of a community would help out your, you know, your mental state for sure. And we talked about the whole mindset aspect of it.
And, you know, if you work on yourself consistently, there's something I'll leave you with is that you could never I'm gonna butcher it, but I hope I don't. It's you can never, out self develop yourself. So you can go make a bunch of money. You can go do this, but you're always in constant pursuit of becoming better, becoming more self developed in yourself, whether it's in a relationship, business, leadership. These people that we're talking about, the people that Steve also has on this podcast are just phenomenal brains that you can model and you can pick after.
And, you know, hopefully, it helps you along that journey of whatever it is that you wanna do. I mean, we chose real estate. So Yeah. That's what we talk about all the time. So yeah.
Steve: Great, great message. If someone wanted to connect with you, what's the best way for them to reach out
Omar: to you? Guys, follow me on IG, at invest with Omar. You'll probably see two accounts. One is the Omar Alfaro, which I don't truly use, but you'll see it. But the main one is at invest with Omar or go to my YouTube at Omar Alfaro.
Perfect.
Steve: Yeah. Thank you so much. It's been an absolute pleasure.
Omar: Thank you. Thank you, brother. Thank you
Steve: guys for watching.
Omar: Shout out to Steve Train. Jump on the Steve Train. Disrupt us.
