How To Succeed In Real Estate & Importance of Social Media For Real Estate W/Ryan Pineda!

 

Tell us a little bit about yourself

 

I got out of college from Northridge then went straight to Real Estate and at the time, every buyer's agent’s dream was to become a listing agent. Then I built a capable and motivated team and the last 4- 5 years have been great!  I've kind of hit a plateau where the realty has been selling anywhere from 100 to 130 homes a year.

 

Has it been difficult breaking the plateau? Do you want to do more?

 

It’s a couple of things- having access to the right information which involves getting certain people in your life who can mentor you to take your business to the next level. So I have continued to do the same things and implement the same processes over and over and expecting a different result. I'm at a point now where I’ve started really investing in the business and hiring a lot more people and doing a lot of work on Social Media and I would say that getting access to different information will definitely allow you to get a breakthrough in your career.

 

When you speak about information, what are you referring to? 

 

When I started real estate I went the first six months without selling any property and I had somebody approach me and he said ‘I will mentor you and teach  you everything that I know but I will take 50%  of your commission on top of whatever your broker split is.’ I was hesitant at first but then I went six months without closing a single deal. He approached me again after six months and told me I had talent and that I could succeed in the real estate business because I had the work ethic. 6 months later, I was closing deals on properties with his guidance. So essentially, a good mentor guides you on the right track to getting to your goals a lot faster.

 

Let's talk about your 56 stores and the real  reason you're buying 56 stores

 

When I started as an investor, investing in real estate all I would look at was cash flow. This has since changed. I'll give you an example. I bought a 25 unit building in 2019 and basically, I got a million-dollar write-off on that building. I couldn't believe it! I literally emailed my accountant two or three times asking if he was sure that it was not illegal. As it turns out, I didn’t have to pay any federal taxes. This is the power of having access to the right information, getting connected to the right people, and reading the right books. As we speak, I always look at more than cashflow, I look at the ROI (return on investment), the depreciation that I’m getting from the asset to see if I can minimize my tax liability and pay fewer taxes so that I can continue to reinvest back into my business and in real estate.

 

Making money as a realtor is not enough, you have to look at ways of getting active income for example from rental properties can prevent you from paying so much in tax plus build your long-term wealth and net worth. 

 

Also, I never want to invest in something where my money just sits there I know when you're in the real estate game we come across deals all the time. If I can put the money towards a deal and then get it back out because I got such a good deal and go buy another deal and another deal. That’s a no-brainer! 

 

What lessons have you picked up so far from social media?

 

Social media is so powerful and having a great social media strategy is important. I’ve taken a couple of courses on social media and also watching how people produce their content has helped establish my own template for producing my own content. If you want to be successful in this space, you have to be consistent and always add value to your audience. Do this over and over again and for sure you will be successful. 

I started focusing on social media 2 months ago, and already I have 310 hours of watch time in a month, which averages out to about  11 hours a day, and to me, that's amazing that people are watching my content for that long!

I am already on Instagram and plan on getting into TikTok as well as planning to grow my YouTube channel to a million subscribers- both of these I would classify as big hairy audacious goals. I know I have this higher purpose in life and I feel like my higher purpose in life is to help people and educate people and give them access to the right information as it pertains to real estate.

I’ve also learned a lot about the power of social media marketing. Using ads can allow you to reach more people than those who were initially following you and this is important if you are looking to grow your audience.

 

 

What advice would you give to someone looking to become a realtor?

 

Obviously, you have got to get your license first. Secondly,  for me, mentorship has played the biggest role in my life. From the guy that taught me how to sell 30 homes to the guy that taught me how to make a million dollars a year and sell real estate in a very efficient way.  

There are a lot of people who will tell you that they can teach you how to make a million dollars a year selling real estate but they've never done it. Essentially, what they're talking about a lot of theory. You should always verify people in your networks looking to become your mentor and it’s so easy to do this nowadays, use Google, Zillow track and find out how many properties they're actually selling. There's a lot of big talkers and so you have to be really careful who you get advice from.

 

What does your future look like? What’s next?

 

What keeps me motivated is my family. I’ve had a lot of success as a realtor, I have 56 stores and now setting foot into the social media scene. At the back of my mind, my family is the center of everything I do. A little bit about my family- I named my 2-year-old son Jose Luiz III because I wanted to say thank you to my dad who taught me everything I know. My wife is expecting our 2nd boy Diego Morales and I can’t wait to meet him this coming September. At the end of the day, I want to have the sort of freedom that will allow me to not necessarily have to go and sell a property that’s why I’m focusing so much on residual income today. I do not want my income to be dependent on activity.

 

In this day and age,  if you can build a business plan that makes you money while you sleep, if you can build up a team that does the things you used to do then you get time freedom and it's so valuable to have time freedom because there's only so much you can do with money. When my wife told me she was pregnant with my second child, I shifted gears. I basically have a three-year vision whereby in three years I would like to have even more residual income- close to a million dollars, that's the goal! 

 

The Interviewee- Jose Luiz Morales, Top Real Estate Agent in Camarillo, California.

The Interviewer- Ryan Pineda, CEO of Future Flipper, Youtuber, and Entrepreneur.