00;00;06;16 - 00;00;31;08

Unknown

Welcome to the Profit First for Real Estate Investing podcast. Every week we bring you top investors and experts sharing how they create clarity, cash flow and consistent profit. This episode is brought to you by simple CFO. Profit first. Profit always. Let's go. The business can only scale to the size of a human being. Like Jim Rohn said it best rarely does a man's income exceed his level of personal development.

00;00;31;11 - 00;00;53;02

Unknown

So if we can just focus personal development on being a huge part of Joe Homebuyer and why people should join us, it's because we focus. I mean, a lot of energy and effort on their leadership, on them becoming better individuals, and then they simply start attracting the right team players because they're becoming a, a leader themselves. They start attracting that income they want because they're now talking more eloquently.

00;00;53;02 - 00;01;16;06

Unknown

They're going on appointments and actually gaining trust of these sellers because they themselves have improved how they speak, how they negotiate, because they're working on themselves. So it's not silver bullets. And so many entrepreneurs are looking for what's the next marketing thing that'll bring in my next 20 leads? And I'm like, I wish it was that simple. It could be the worst marketing strategy, but with a developed individual, they'll still turn that worst marketing into deals.

00;01;16;08 - 00;01;36;25

Unknown

Hey, hey, welcome back to the Profit First podcast we have Cody Hoffman on today. I'm really excited about this. Cody is someone where every time I see him speak, I like want to go out and do something like because I think you're just so motivational, but just the weight, your energy is so incredibly high and your outlook on life, your positivity.

00;01;36;25 - 00;01;52;07

Unknown

I've heard your stories several times of like where you came from and where you are now, and it's like every time it just inspired me to like, I want to go do something. So Cody, I'm super excited to like, dive into that and how you're helping people now and like your whole journey. Well, David, it's an honor to be here.

00;01;52;10 - 00;02;09;12

Unknown

We've known each other for a few years now. Yeah. So I saw from the beginning journey of, like, you just getting into entrepreneurship and saw you rocket off. And so it's, it's been an honor, and it's honor to be here. So thank you for having me. Yeah. For sure. And and that journey is a journey, isn't it?

00;02;09;12 - 00;02;28;28

Unknown

Like we've shared in that journey of entrepreneurial ism. And I guess I don't know from your story, I've heard your story, but how did you become an entrepreneur? Was it that you saw from your parents, or was it you stepping out there? Because I know you like scraping the painting, like going out to the parking lot of like, you know, not knowing where your next meal is coming from.

00;02;28;28 - 00;02;47;09

Unknown

Like, I know you've got a very in-depth backstory, but I'm wondering, where was the entrepreneur born inside of you? Yeah, my mom and dad were entrepreneurs in the sense of my mom stay at home mom, but she very much ran the back end of my dad's business. But my dad was a general contractor, so a licensed general contractor, I got to see again.

00;02;47;09 - 00;03;10;03

Unknown

I don't think I had the land saying, oh my gosh, my dad has so much freedom. It's tied to him owning his own job. But no, but that's what I got to experience. My whole I was a general contractor that worked hard but played harder. And it was it was a great upbringing from that sense. And, as you grow up and you're like working at like Eddie Bauer and working at, like restaurants and you're like, this is awful.

00;03;10;04 - 00;03;24;27

Unknown

Like, I don't I don't know if I can be an employee for someone. I love being an employee for my dad, but that's that's where the entrepreneurial bug came from. My dad was an entrepreneur, had a general construction business. Okay, let me ask you. You said work hard, but play harder. Give an example of how your dad played hard.

00;03;24;29 - 00;03;44;28

Unknown

Do you know is it's crazy? Like this will actually make you cringe. So you're the guy in the keep it bucket? My dad's not a keep it bucket. My dad's like, diet. Well, live at zero even. Not even just diet zero. So he's a guy that that if you make 50,000, you spend all 250,000 like he is.

00;03;44;28 - 00;04;04;22

Unknown

What guys that just he had fun. And do you know what it's it's really interesting because he had this, like, abundant mindset that I'll always be there. And the funny thing is David, it was it was always there. And so I like I sit there and I'm like a million ways how I could like trash his plan. But it's like it it worked.

00;04;04;22 - 00;04;30;08

Unknown

Yeah. He vested in experiences a ton and so but to the craziness, let me tell you exactly an example of this. We knew we were going to be going camping, coming up in the weekend. So Monday through, like Thursday, we're going to school Friday, me and my brother ride our bike to the end of the street because we'd meet my dad at the top of the street and then race him home because we knew, like, oh, camping starts all sudden, like, this motorhome turns the corner and we're like, oh man, I wonder where dad is.

00;04;30;09 - 00;04;43;28

Unknown

He's in the motorhome. Like he just went and bought a motorhome and says, hey, we're going camping this weekend. Right? When my mom was even like, wait, what? We don't talk about this is a couple, like, what's going on? That's how the kind of guy he was, he was like, no, we're going to have fun. We're going to go do this, do this, this.

00;04;43;28 - 00;05;03;10

Unknown

And then a year later, or two years later, he'd sell it and then it'd be the next thing. But, that's kind of, when I say he worked hard, but he played harder, like he had to have his next job or his next, like construction. Yeah. Job that he lands or something that he's going to build for someone because he he just played super hard.

00;05;03;15 - 00;05;20;23

Unknown

That's awesome. But it kept me, don't you? That's what's crazy and young, right? That's awesome. And I like that if I. Okay, I won't mind it if he made a 250 and spent 250 and then has a son that turns out like Cody that says, this was amazing and I got to see this. Like I have nothing wrong with that.

00;05;20;23 - 00;05;34;01

Unknown

It's like when what if you would have said he did this? But we were always super stressed and I hated my wife and I wanted nothing to do with entrepreneurism. And I'm like wanting to burn every bridge. And I hated my father, you know, like, oh, this. I was like, yeah, well, then now we have a different story.

00;05;34;01 - 00;05;52;26

Unknown

But so like, he gave a good example of, like living life to the fullest and to him profit first was really about putting those experiences. It sounds like, in front of you, in front of his spouse, in front of like the the family and the culture that he was defining as well. To which it seems like you got a big portion of that.

00;05;52;28 - 00;06;11;20

Unknown

I'm sure this is rubbed off on you. And because, like, you live larger than life, it seems like whenever I see you and then, okay, I do want to know how did you get involved? Because everyone that's listening might not know where you came from or the background. Like wholesaling Inc. That's a really big podcast. That's a really big company.

00;06;11;20 - 00;06;28;20

Unknown

No, like out there. That's helped tons of people. Like, how did you go from, you know, like having that entrepreneur bug to getting into specifically real estate. Was it through the general contracting what your dad was a part of? And like that was just a natural springboard or like, how did that all play out? Yeah, such a good question.

00;06;28;22 - 00;06;47;02

Unknown

How it worked out was actually just taking steps and failing miserably. And then the next step led to the next. And yeah, I mean, think about your own life. Like, rarely do we figure this out. In fact, if we sit there and just build a perfect plan, then you're going to be the person that ten years from now you still haven't taken step number one.

00;06;47;04 - 00;07;07;08

Unknown

And so I was just one of those guys that would just fail forward at a fast pace, faster than most. And, to the to my like amazement, even though I was failing, it was putting me a step ahead each and every time. So I never saw it really as failure. And so I get into insurance. Let me go back a step.

00;07;07;08 - 00;07;22;08

Unknown

I was working for my dad my whole life, and so I did that all the way through. Oh nine and oh nine is finally when it hit the recession in Utah. It didn't hit no, wait. Like everyone else, like all the other surrounding states around oh nine, it hits though, and my dad and mom, they're like, we're willing to pay you like jobs will come.

00;07;22;08 - 00;07;36;23

Unknown

They had an abundant mindset. They didn't have a scarcity mindset. Like guys go find jobs until until money comes in. No, they're like, we'll keep paying you. Don't worry about it. We have no jobs. But we we got to make sure your family's live too. And I just, like I couldn't do it. I'm like, I can't do it.

00;07;36;23 - 00;07;56;18

Unknown

I can't take from this bank account when there's no jobs. So I sold vinyl fencing, just got a sales job. Vinyl fencing led me to meeting Mark Stuber, my business partner. That's where he was working. And so we built a friendship there. Fast forward, I hated selling vinyl fencing. I couldn't get passionate about a product that was supposed to be the best fence, but it wasn't the best fence.

00;07;56;22 - 00;08;17;09

Unknown

Yeah, and it was just like any other fence, I guess. But we charged quite a bit more. So it was, it was that and then not seeing my, kids during that year, like I would be gone before they were up and I'd be home after they're in bed for at least six of the months of the year, because it's really like a there's a ramp up season where it's like crazy.

00;08;17;12 - 00;08;32;03

Unknown

I didn't like that, didn't sit well with me. I'm a family man. I, I mean, even if I'm, like, starving to get business coming in, there's a limit where I won't like there's a line that I think every one of us crosses where it's like, okay, this is like six months. I see my kids. Except for on Saturday.

00;08;32;03 - 00;08;48;20

Unknown

Sunday. That was my line where I'm like, I can't do this anymore. So I get into an insurance because I was selling vinyl fencing and a lot of insurance agents. That happened to be my clients that are selling fence to like, you should sell something that has like some kind of residual effect onto it. I'm like, that sounds attractive.

00;08;48;22 - 00;09;07;27

Unknown

And so what they didn't tell me is you make babies the first five years. And they told me I probably wouldn't have got into it. But however, again, God being in the details, it sounded great. So I get into it. I'm working 60 hour weeks, but at least there's a purpose. There's a reason behind it. I own this business, and the first year I make $19,000.

00;09;07;27 - 00;09;26;13

Unknown

Period. The end. That's it. And I had wife, two kids and a mortgage payment. The rest was out. It was debt free. I didn't have any car debt or anything like that. So 19,000 doesn't work, period. The end, no matter how many times you. Yeah. So fast forward 15 is when, And maybe you've heard the story.

00;09;26;16 - 00;09;43;13

Unknown

That's when I, my wife was crying at home. I came home early from work and she's crying at the table, and she's wondering whether to put food on the table or pay the mortgage that month. Yeah, well, I'd already been insuring the investors, like, in my in my whole entire state. I was probably the largest insurance agent for investors, but it was crap policies they'd fix and flip.

00;09;43;13 - 00;10;02;11

Unknown

So the policy would get on and then fall off. The books get on for off the books. So there's no reason to draw that. It's just this kind of just crap policies. So anyways, I was going to the real estate investor associations to get business is how I really even got in tune with real estate. But for five years I go into this and I never once like was interested in what they were doing.

00;10;02;15 - 00;10;17;08

Unknown

I would just hear someone say, hey, I've got five rentals. I'm like, that's five policies. I got to go meet that guy. And that's how it really started off. So when I saw my wife crying three days later, within about 2 or 3 days was the next real estate investor association, and I just couldn't get it off my heart.

00;10;17;08 - 00;10;32;27

Unknown

That man, my wife, my wife, I caught her crying. And this is me. I need to provide for the family. A guy stands up and he shares how he just found a deal. He sold it, made like $29,000 and he did it in four days. And I'm like, that would change things. I would pay for food and a mortgage.

00;10;32;27 - 00;10;47;01

Unknown

That would be amazing. So I went in to up to him. I insured all this stuff, so I trust them. I said, hey, would you teach me? Says Cody. You're driven. When you have the blueprint, you would scare the crap out of me. You'd be my biggest competitor. And I'm like, I don't know if that's a compliment or if I'm like, come on, look past it.

00;10;47;01 - 00;11;06;20

Unknown

Like I want to learn. I need a healthier life. And so that's when I called and reached out to Tom Wholesaling Inc. Was that like a very beginning? Stages just had a handful students. Yeah, I was one of the first students. Me and a guy by the name of Theo Davis. So we're we're in there. Fast forward a year.

00;11;06;22 - 00;11;24;13

Unknown

Me and Tom partner, I buy half the company, and then we really like from there just blew up wholesaling to what it was until we sold it in 2020. Wow, that's so cool. That is so cool. I like that journey, and it seems like that helped you from multiple angles. Like you've got the you're obviously your own entrepreneurial journey.

00;11;24;13 - 00;11;49;29

Unknown

I did think there is one thing you said in there, but kind of glanced over it at the beginning where you're like, I can't take the money. I can't take the money. You know, like from that bank account, you know, to do. And then that kind of put you on a trajectory. But then it ended up to where, like you said, you know, God is in the details, where it's like, where in the world I would have never started this if I would have just started taking that money and you would have been comfy probably for maybe that year, maybe seeing some strain there.

00;11;49;29 - 00;12;10;07

Unknown

And, you know, eventually they come out of it and you're still working there, but then you don't have all these experiences and literally have changed thousands and thousands, if not tens of thousands of people's lives through wholesaling Inc. and like all everything you've done on that side. But then you went from there and then what? Now? Like from 2020, what was the what did you do past wholesaling?

00;12;10;07 - 00;12;33;00

Unknown

Nick, do you know, it's interesting. I went through like a hard I think I understand a little bit better now when like you hear the stat of 2009 Sports Illustrated, where it's a football players, they were I think the average time was like 2.9 years in the NFL. And they would make great money like phenomenal money. And within like 2 or 3 years of them retiring, they'd be completely broke.

00;12;33;00 - 00;12;52;06

Unknown

Like, yeah, 70% of them were like bankrupt or something. I mean, it's just that just an astronomical number that would be bankrupt within 2 or 3 years after retiring. It wasn't a lack of money. They were making great money. They had they didn't have financial literacy part of it, but they actually said the biggest reason why is because they were attached to an identity that had ended.

00;12;52;06 - 00;13;08;22

Unknown

So they had said to themselves, I'm a football player. And when football ended, all sudden they're like, I'm a nobody. I was a football player my whole life. Instead of saying, I'm someone that's competitive, where that can now go and grow, even when football ends, it's like I'm still that person that's competitive. Whatever I get into, I'm going to win.

00;13;08;22 - 00;13;26;04

Unknown

Kobe Bryant was a perfect example. He gets out of the NBA and he starts this like media company wins a Grammy his first year. Like all this stuff because he's a competitor. He's not a he's not just a basketball player, he's a competitor. So when he left basketball, his identity didn't leave. His identity was still intact because he's a competitor, whatever he does in life.

00;13;26;06 - 00;13;43;09

Unknown

And, when we sold Wholesaling Inc., I lost my identity. I found out quick how much I was attached to that identity of being the person that could be on a podcast, the person that could go speak on stage. And, it perfectly happened for me. It was a great time. I wouldn't say I was out there just being crazy or being dumb.

00;13;43;11 - 00;14;03;18

Unknown

I've never been that person. But, yes, even even I had to go through, like, eat some humble pie and be like, yeah, you're starting over again. Like, yeah, you're not the man anymore. And that was that was hard. For two years, I poured my life and soul into those students. And when that was no longer there, man, it was two years going on walks.

00;14;03;18 - 00;14;23;00

Unknown

Many walks with my wife, many walks by myself and just tears. Just wondering what's next. Because I had just I couldn't I couldn't even fathom another world because it was almost like I'd just lost my identity. And so I had to do this whole identity build out and find out who Cody is. And again, God's in the details.

00;14;23;03 - 00;14;45;21

Unknown

I needed to go through it. Life didn't happen to me. It happened for me. And it was a it was a beautiful experience. And on the other side was this better, stronger. Cody that's able to go and have a bigger impact on people's lives. All right. I have to pause the episode real quick. If you're a real estate investor who's tired of wondering where your money is going or why you're closing deals, but still feeling broke, you need to talk to simple CFO.

00;14;45;28 - 00;15;19;01

Unknown

Simple CFO is profit first certified and fully endorsed by Mike McCall. It's the creator of Profit First himself. Our team specializes in helping real estate investors finally get control of their cash flow. So you keep your money, you pay yourself consistently and build a business that doesn't run on chaos. We'll help you implement the profit first system the right way, so that the financial processes you've been missing, and give you a dedicated fractional CFO who actually understands investing and keeping track of your numbers on flips, wholesales, rentals, private learning, all of it.

00;15;19;03 - 00;15;54;15

Unknown

So if you want predictable profit instead of living, deal to deal, head over to simple cfo.com and book your financial clarity call today. That's simple cfo.com. Stop living in confusion and start keeping the money you worked so hard to earn. Now back to the episode. So then you go through that experience and your identity and rebuilding, which I that resonates so much because I'm sure that if you're listening to this podcast and you're wanting to keep more of your money, that money might be holding on to your identity in some way, shape or form, especially if you're a business owner.

00;15;54;22 - 00;16;12;00

Unknown

I'm sure you've seen that Cody. Like, it sounds like you've not just seen it, but you've experienced that where your identity is tied up in your business, or in the bank account, or in how much zeros you have in there, or the lack thereof, and then you feel crappy if you don't have it. So it's like, sounds like you really went through that journey but came out on the other side.

00;16;12;02 - 00;16;31;05

Unknown

It sounds like, did you find yourself to be that competitor, kind of like Kobe Bryant? Like, how did that come out from that identity? Like what? I just want to ask you, how do you identify right now? Like, what is that identity that is Cody off line? Yeah, that identity is first. And foremost that I love deeply. God.

00;16;31;08 - 00;16;51;17

Unknown

Second is, that I have an incredible wife that is my just my best friend. My my one and only. Right. Third place comes my kids, like, my wife was first. And that's how it'll always be. My kids still be very much a big part of my life. I don't want to downplay that. They're huge part of my life.

00;16;51;19 - 00;17;13;05

Unknown

And then from there, it goes into it goes into work from there. At the crux of everything, what I found out is, no, it has nothing to do with the title. Wholesaling has nothing to do with the title of owner entrepreneur. More than anything. I just really had to look at it as I'm someone that can have a massive impact for good in someone's life.

00;17;13;05 - 00;17;34;20

Unknown

Someone can become better, and from a philosophical view that someone could become more like God because they met me today. And that's what I strive to do. Not to not to say I'm, perfect at it. I'm not. But with that lens, it was so much easier to just wake up and go to work because it was it was a higher purpose than myself.

00;17;34;20 - 00;17;53;04

Unknown

I am I think at that point it was also quit thinking about myself and think about others. Me and my wife, some of the things we do is we tie not money just to bless our lives. Yes, we do do that, but how do we go out there and have such an impact that we can use money to bless other people's lives?

00;17;53;04 - 00;18;10;20

Unknown

And that's been probably the best thing about it, is being completely debt free, first and foremost, so that we're not focusing on ourselves. We can focus outside of us versus us. And I think debt free. It's not about saving the 3% interest that everyone locked in five, six, seven, eight years ago. It's not anything to do with that.

00;18;10;20 - 00;18;30;13

Unknown

It's all to do with when you're debt free. You quit focusing on yourself and you start focusing outward. And we then took that money that was going towards mortgage payments and we said, hey, what if what if we invested it into things that changed our lives and we use that to change other people's lives? So one of the things I served a two year mission for our church and it made me who I was.

00;18;30;13 - 00;18;47;09

Unknown

It made me significantly better than I think I ever could have been had I not gone on that mission. And they're not cheap and the church doesn't pay for them. And so me and Wendy will use our funds, our money, to put these young 19 year olds on missions, and we'll cover the cost, will pay for it. And so now it's just purpose driven.

00;18;47;09 - 00;19;09;14

Unknown

So instead of ego driven or accomplishment driven or the goal post and then the goalpost never stops moving. It keeps it keeps changing. This is now just purpose driven. Yeah, it has to. It has to hit our lifestyle where we can only say yes to the best stuff. And if we do that, and then we maintain making sure that we are not just focused on ourselves, that we are using it to bless other people.

00;19;09;16 - 00;19;23;10

Unknown

And that has been our identity shift together. Me and my wife. Awesome. Yeah, I love that. It's it's like the Purpose Driven life. It's almost like there's a whole book there. Like if someone needs to go out there, that's a good resource to getting on there and getting back on that train. If you're listening to this right now.

00;19;23;12 - 00;19;46;03

Unknown

Well, Cody, that was awesome. And I love what you said there, that it's purpose driven and it's more about your identity is the massive impact you can have on someone, whether that's getting them closer to God and more like God, or if that's actually showing them that way and being able to just change your life. So I did want to ask, let's exclude those top three things the family and everything, because that's on the family and the personal side in business.

00;19;46;03 - 00;20;01;17

Unknown

What are you most excited and passionate about right now? Oh, I love seeing people win at the high level. In fact, if that was everyone's focus, you would see you would never worry about money the rest of your life. If you can just see people win and you are the reason that helps people win at a high level.

00;20;01;19 - 00;20;27;21

Unknown

Don't even focus on money, focus on others and focus on their winning. And you, my friend, will be secure and all the financials that you want. So for me, the biggest thing I'm excited about, for example, Joe homebuyers, one of the one of the brands I own and we have now 65 active franchisees, our focus and goal by the end of 2028 is to have $101 million territories throughout the nation.

00;20;27;23 - 00;20;46;24

Unknown

Yeah. And right now we're far from it. Like, I love being just candid and honest. Even on podcast right now, we'll end the year with about 16. And by the end of 28 we want to be at 100. Well, what that does is it recalibrates and it shifts our focus. Okay. Well what is our activities doing? Are they in alignment with this massive goal?

00;20;46;27 - 00;21;09;09

Unknown

Some dear friends of ours, Benjamin Hardy and, Blake Erickson, they are the founders of, of the scaling.com. And they run people through this, like ten experience out of ten or business in the next three years. Most individuals, they think linear, they think, oh, 1 million this year. Let's do 2 million next year. And they just go linear thinking.

00;21;09;15 - 00;21;27;11

Unknown

And all you got to do really is turn up marketing. You could probably do that. But what is that ten x thinking that impossible thinking where you're like, okay, let's go from 1 million to 20 million. Well that's different because what that's going to do is require you to have to think differently, get creative, have probably a whole new blueprint than what you're currently living right now.

00;21;27;13 - 00;21;52;07

Unknown

And so we think bigger now. And yes, not only is it our goal, but we're aligning now. Our relationships are partnerships. We're aligning our activities. Actions are thinking. All of that is now in alignment with so that we can accomplish having $101 million territories throughout the nation by the end of 2028, and I absolutely believe we'll get there because that's it's business is not luck.

00;21;52;07 - 00;22;12;20

Unknown

It's not anything more than having a clear path of where you want to accomplish what you want to achieve, and then just aligning your activities that you should be doing each and every day in alignment with that future self or that future business that you want. That's a really cool goal. You know, like for a franchise, especially to have $101 million territories.

00;22;12;20 - 00;22;29;04

Unknown

So that way you're not just giving them the tools and you're saying, good luck, like I've given you everything. What's your problem? It's like now you're focused on are you successful? It sounds like you're really invested in their success, not just in the here, let me give you all the tools. And then I'm just going to ride off into the sunset type thing.

00;22;29;07 - 00;22;54;26

Unknown

So true. And that's what I love about the franchise model is we don't win unless they win. I mean it's I mean, I, I don't love the word royalty because it sounds like it's a fee. But how our partners look at it is a partnership they don't look at as a royalty. They don't look as a fee. They're like that as, oh my gosh, I have the help to scale, grow my business, to like the I can't even say money claims, but scale and grow their business.

00;22;54;29 - 00;23;15;21

Unknown

FTD holds us back on what we can say and what we can't say, but when our individuals are franchise owners join, they're not looking at as a fee. They really just look at as, oh my gosh, I get to partner with. And again, I say this humbly, I don't mean this in a braggadocious way, but I get to partner with the best and, and, have the best and only for a 6%, let's say, of my business.

00;23;15;21 - 00;23;35;14

Unknown

Okay, some people partner 5050 with people. And so, they see the big picture and they see how we can help them get to the next level, I guess is the best way I can say it. Okay, nice. Yeah. It's like all the things you can and can't say. It's. Yes. It's so crazy. The franchise world is like, we literally like, you could say anything.

00;23;35;14 - 00;23;51;22

Unknown

It's not even on our marketing socks. I'm sure, I'm sure. You see, things go out and you're like, oh my God, I can make that ten times better. Like, what is going on here? Oh, hey, like, you can't say that. And we're like, what about this? Or you can't say that? And I'm like, I'm like, Cody, you can't say that.

00;23;51;22 - 00;24;13;16

Unknown

I'm like, what can I say? You know, we want to help you grow. Okay, okay. We want to help you grow. Then, which. Okay, then I could well, I can ask you any question I want to on this ad because I don't have any stipulations put on this framework of make, spend, keep like I want to make sure that, you know, simple CFO we help keep it sounds like you really help people get up and running to make the money that they want to make.

00;24;13;16 - 00;24;32;00

Unknown

And it seems like, especially for this one Joe homebuyer, you're focused on getting them to a million as quickly as possible. Is that true? Because it's like you're trying to scale there. And in just a couple years with franchises getting up to like 100 and the million dollar like, that's usually a big first goal for a lot of businesses, right?

00;24;32;00 - 00;24;51;04

Unknown

Is that seven figures that they want to get to. So is that like one of the big focuses too is like get them in, get them as successful as possible and then try and get them to the seven figure mark as quickly as possible. Yeah, that's was the one of the shifts, right. Like we have now, quite a few of our franchise owners that are coming to us that are already doing a million or okay.

00;24;51;06 - 00;25;15;02

Unknown

So that's a beautiful thing is our focus. We're like, okay, how do we get there and how do we obtain this goal? And the goal isn't for the sake of because we're just cool when we have 100. It just means that's how many people were able to help and facilitate future growth with but one of those strategies is, refocusing our efforts on who we're letting to come in to to be part of Joe home buyer in the first place.

00;25;15;02 - 00;25;33;07

Unknown

So it used to be at the very beginning, we had people that had even done a business, but they had like 3 or $400,000 because you do like you need some ramp and runway to get going, and you need to be instantly spending minimum, probably $15,000 a month in marketing to even, make a presence, make a dent in the wholesaling space.

00;25;33;09 - 00;25;54;16

Unknown

And so we originally had beginners as part of our model, and then we quickly learned quickly that, yes, some small fraction turn into something that they're like, I love this. And they get going. And then there's people that have the same blueprint in there, like maybe it could be mindset, it could be a limiting mindset. It could be just they find out they don't love real estate and money.

00;25;54;16 - 00;26;13;01

Unknown

And our blueprint didn't change that. And so we had to just refocus who our avatar was. And we had to drop the beginner. We no longer allow someone that's never done a deal to do it. Now they've got to be a thriving business. Which means if they're probably not spending $15,000 a month in marketing, they're probably not a good fit for us.

00;26;13;06 - 00;26;37;24

Unknown

Probably too soon. And so we do have some ways there's some masterminds and things that they can go to that allow them to get to that, healthy stage where they can get to us, where then they're ready for us, that we can really help them ramp. Awesome. So you're looking for someone who has an established business, and you can take them really to that next level, then that's really yours is like scaling, but scaling in a professional and like responsible way.

00;26;37;26 - 00;26;55;04

Unknown

That's correct. That's correct. And it's not for everyone. And you probably see this in the business as you get to see being the CFO for many of these companies, you're like, holy smokes are how much many, how many more years are you going to run like this? You probably see the solopreneur to the people that are banging their head against the wall and you're like, yeah, I can tell you why.

00;26;55;04 - 00;27;17;23

Unknown

Like you're doing it all by yourself. And so it's not for everyone, but those rare occasions where people are like, I really want this to be a business. A business is not solopreneur ship that is self-employed. That's why they call it that, because you're still employed. It's just you're employed by yourself, but you're wearing all the hats. It's going to burn candles at every end of the candle, and you're going to probably fizzle out before it even turns into a business.

00;27;17;25 - 00;27;40;15

Unknown

But if they had the right blueprint and the right coaching, the right mentorship, the right systems, the right process in place, could that turn into something for some? Yes. For others, no. And it's almost like Jim Rohn. Why it's the same blueprint. And it's he calls it the mysteries of the mind. So I don't know why some take it and just run and others don't.

00;27;40;15 - 00;28;06;14

Unknown

So there really is a criteria we're looking for and that we go through our interview process, but we find that individual. It just ends up being a fantastic like marriage. Yeah. Because they're also looking to have a community. They're looking for that mentorship. They're looking for that partnership they don't look at as a fee. They look at it as, no, this is like exactly where I want to be awesome and okay, I will ask you this and you can answer or not answer if you don't want to.

00;28;06;14 - 00;28;23;09

Unknown

Do they get access to you? Like, are you running some of these calls and like talking with the franchisees and like that type of stuff as well? Yeah, yeah. So for example, every Thursday I'm with every one of our franchisees. So it's a group call and it's just mindset mastery. It's overall the mindset leadership. Yeah. We just had that today this call.

00;28;23;09 - 00;28;45;27

Unknown

And it's one of my favorite calls. It really is because it it's really working on the individual versus working on the business. The business can only scale to the size of the human being. Like Jim Rohn said it best rarely does a man's income exceed his level of personal development. So if we can just focus personal development on being a huge part of Joe Homebuyer and why people should join us, it's because we focus.

00;28;46;03 - 00;29;08;05

Unknown

I mean, a lot of energy and effort on their leadership, on them becoming better individuals, and then they simply start attracting the right team players because they're becoming a, a leader themselves. They start attracting that income they want because they're now talking more eloquently. They're going on appointments and actually gaining trust of these sellers because they themselves have improved how they speak, how they negotiate because they're working on themselves.

00;29;08;05 - 00;29;23;25

Unknown

So it's not silver bullets. And so many entrepreneurs are looking for what's the next marketing thing that'll bring in my next 20 leads? And I'm like, I wish it was that simple. It could be the worst marketing strategy, but with a developed individual, they'll still turn that worst marketing into deals where you can have the best marketing strategy.

00;29;23;25 - 00;29;46;15

Unknown

But if you're a de quality individual, you're probably not going to get deals because people won't trust you and then they won't trust you. They're not going to sign a contract. Yeah, yeah. No, that's so true. And I love that that you don't just focus on their business, which you do, but then you also focus on them as a leader because like you just said, and Jim Rohn, you know, and all the people that have told, you know, like you, you're what it's John Maxwell, right?

00;29;46;19 - 00;30;04;18

Unknown

It's like, yeah, I love John Maxwell. I'm not my favorite at the law of the lid, you know, like, yeah, it's pass that. So it's like, that's where it seems like you're helping them with that ceiling and helping them to be able to start attracting the right people, which is great. I love that focus and that focus on what you're doing with the franchisees.

00;30;04;21 - 00;30;21;08

Unknown

I did want to also ask, like in this whole system and with what you've got going on, it seems like you're having some great success with people, but it's because you're really finding the right people, the right people in the right partnerships. So there's lots of other there's there's lots of things that people could go and do instead.

00;30;21;12 - 00;30;39;14

Unknown

What makes it unique is it that it you have the franchise where you're building the business and the leadership, and because you're focused on these specific individuals and you can really take them to that next level. Because that's what I'm picking up on. But I want to make sure if I've missed anything where you're like, now, this is another thing that we have.

00;30;39;14 - 00;30;57;04

Unknown

I didn't even get to talk about this yet. I mean, what's interesting. Yes, yes to everything that you just said. Amen to what you just said. And is there things each one has, like their unique thing? If you talk to them, not one of them would probably say the same thing. You're like, why don't you join Joe? One of them will say community because maybe you felt it.

00;30;57;04 - 00;31;19;28

Unknown

Just like I felt that entrepreneurship is lonely. Yeah, like it's a lonely circle. Unless you join a mastermind or something. It's. It's a lonely journey. And especially with. If your friends are entrepreneurs or your family are entrepreneurs. Now it gets really lonely because you can't even share your success with anyone because they're probably going to be a blue crab and kind of pull you back down and pull you back into their buckets saying, oh, just don't work so hard.

00;31;19;28 - 00;31;36;13

Unknown

Don't do that, don't do this and don't do that. And so it gets lonely. So you talk to some Joes, they say, no, I'm here for the community. And we have, I think, the world class. I think it's the best of the best because it's a bunch of go givers. I would say vast majority are like Christian mindset.

00;31;36;13 - 00;31;53;28

Unknown

They have a belief in a higher power so that it's not just them. They're willing to show faith when they don't have the right answer, but still move forward when they don't have the right answer. It some it could be they're like, you know what? I have no idea how to run this tech stack. I have no idea how to do this.

00;31;53;28 - 00;32;08;22

Unknown

I have no idea how to have a great CRM. And so they join because they say, you know what? I'm able to leverage you guys. When my team needs help, they can call you and say, hey, how do I figure this out? Because I'm a maverick. Mavericks are not tech people. Like, I don't even know my log in to the CRM.

00;32;08;29 - 00;32;36;01

Unknown

And so it's like, how do they get everything? And everyone brings something different. Why they joined the other one? It could be because it is the connection with our marketing partners, our vendors, everything that we have that allows them to get it at our pricing. I think one of the other unique strategies is how much money we're able to put back into the game, because we have a national presence, we're able to see real time what's happening in the in the, in the nation, because when it was just us, we only saw what Utah was doing.

00;32;36;03 - 00;33;11;22

Unknown

Right? But once we've expanded it to the nation, it's like we're seeing real time what's happening and we're able to make pivots based off of that. One of the thing John Maxwell says he talks about how a true leader is able to see around corners and with partnerships. Now in many states, I mean, 65 franchisees that are out there, we're able to see around the corners quicker than other entrepreneurs, other companies, because we have eyes on many different ways, and we're seeing things that now I can analyze and say, hey, here's a blind spot for you guys, and I don't even know if many solopreneurs even invest in AI right now, because it's such a

00;33;11;22 - 00;33;41;08

Unknown

changing game. But when you have this whole entire pool now, it's like Kobe Bryant waking up at 4 a.m. after he does that for three years. No one can catch up to him because he's already been doing it for three years. He's going to be so much further ahead of you. And the gap just gets further, I believe, because we have so much franchisees and so much buying power, we're able to invest in some of these tech things that no one else on a solopreneur level can invest in, and it's just widening the gap to where it's just getting better and better each and every year.

00;33;41;10 - 00;34;14;17

Unknown

Awesome. No, I love that. Very cool. This sounds like a very a very specific for someone who's in the game that wants to take it from where they are, they're already one. And all right, right. They're doing the deals, doing the. And then they want to take it to that next level and they're able to really get the like you said, the best of the best there that have been there, done that, have scaled multiple businesses, sold a business, then also been in real estate, also has the boots on the ground and the experience and the leadership and really understanding that it is about that personal development.

00;34;14;17 - 00;34;29;19

Unknown

So I think there's lots of things going for it. So Greg Daniels loves us because he doesn't have to trade his acquisitions. He flies them out in Salt Lake and we train them and then they jump off the plane. They're going, yeah, you're in Norton. Very Norton like, I don't have time to run. He bought ten of our franchises.

00;34;29;19 - 00;34;42;22

Unknown

Yeah. And Jerry Norton's like, I don't have time to run the ten. So the leverage is us. Yeah. That's awesome. So if you're out there and you're doing the deals, this is something to look into. So how would they get Ahold of you if they want to look into that or just everything that you have going on? Yeah.

00;34;42;22 - 00;35;02;12

Unknown

Just in general reach out to Cody hoffman.com. That's online. Right. You can go to Cody Hoff Incom. That's my website. Reach out to me there. Obviously the other one I want to give you is go to Cody Hoffman on Instagram. That is an easy one. Look for the blue check mark. I don't know why anyone wants to be me, but there's about ten FAQs out there that are not me.

00;35;02;14 - 00;35;15;09

Unknown

Yeah. Look for the blue check Mark Cody hotline when you DM me, it is me. I don't pay someone to manage that. That is me. I love having conversations. Please reach out. I'd be glad to lead and guide you and help you any way I can. Cool. So there you have it. That's where you can find everything.

00;35;15;09 - 00;35;35;20

Unknown

Cody Hoffman if you're interested in Joe Home Buyer, then you can do some other things as well to code. Don't you do some coaching yourself and some of that as well. So if you like, if you get the same energy that I get from Cody, from stage, from this podcast and you're like, I want more of Cody in my life, just go to Cody hotline.com, and that's where you can find everything there and he'll help you make more.

00;35;35;20 - 00;35;55;03

Unknown

We're all about helping you make spending keep the right amounts. And it's like, this is how you can really ramp it up, especially if you're out there and you're willing to go to that next level. And that's where you can find it. Cody hoffman.com. If you want to keep more, that's where you can code a simple cfo.com. You can have a conversation with our team and making sure that you're keeping what you're making and making sure that there's profit.

00;35;55;03 - 00;36;12;14

Unknown

At the end of the day, if you're $1 million franchise, I want to make sure that you have a good, healthy margin and you're not spending 1.1 to get to a million. So that's where we help you on the back end. Make sure you have a profitable business. So go to simple cfo.com if you're interested in that. Cody, thank you again.

00;36;12;20 - 00;36;28;01

Unknown

Do you have any parting words here you'd like to say don't go out and buy motorhomes, guys. It's a depreciating, not even an asset. It's a liability. Unless you're Cody's dad and you don't ask anyone in your family, and you just show up and you say you have the time of your life, and then you have a great experience with it.

00;36;28;01 - 00;36;47;02

Unknown

That's the only time that it's okay. So now this is good stuff. Cody, thanks for being on and sharing all your wisdom, Zach. Appreciate it. That's it for today's show. Be sure to subscribe, review, and share this episode. If you're serious about financial systems and keeping more of your profit. Visit simple cfo.com to take your free discovery call today.