00;00;00;00 - 00;00;17;11

Unknown

We have Kevin Cho on today. He is 23 years old, has already done about 150 deals in the last two years. And he tells his journey in real estate and he also tells what he was going through as he built up his business. He's actually a client of simple CFO, so he wanted to make sure he was keeping the money as well too.

00;00;17;14 - 00;00;35;05

Unknown

And he talks about all of that and really how he was feeling of diving into here. And what were the key elements for him to have success as a young entrepreneur. But honestly, just how to have quick wins in the real estate world no matter what your age is. So if you want to be inspired, listen to this episode.

00;00;35;08 - 00;00;56;01

Unknown

Hey, welcome back to the first Ami podcast we have Kevin Cho on today. I'm super excited about this. Kevin works with us at simple CFO and also he is wanted to be known as the seller finance guy in the multifamily space, which is really cool because it's like there's not I don't that's definitely something I don't hear, you know, out there that there's someone that's the king of that.

00;00;56;01 - 00;01;25;16

Unknown

So going after that. But I'm excited to interview you today. Kevin, thanks for being on the show. Thank you so much. You know, I I've been working with I don't really like to talk about companies unless I work with them for, for at least a year. So like I think it's been 13 or 14 months ever since I started working with Tiffany on your on your team and guys truly, truly life changing just because that you guys Tiffany does things for me that I absolutely hate doing as a business owner.

00;01;25;18 - 00;01;36;07

Unknown

That's great. So to talk about that, what do you not like to do that helped to change your life from that aspect that she's doing and helping you with?

00;01;36;09 - 00;01;57;07

Unknown

Number one thing is like spreadsheets, like when I look at all the numbers, it's like it discourages me. Yeah, because there's just so many numbers that I have to keep. Keep them, keep in mind, have to analyze the health of the business. So like when I, when I first got, when I first got introduced to simple CFO. Yeah, I was doing like 15, 20 grand a month on my wholesale business.

00;01;57;07 - 00;02;19;23

Unknown

And like my business literally took off in such a short period of time. And, and I'm like, I need help with cleaning my books. And so I but I didn't even know what to tell my bookkeeper, so like, that's what I brought on as a, you know, fractional CFO. Tiffany. Yeah. And Tiffany was able to work with my bookkeeper, so, like, it took at least it took at least three hours off my plate every single week.

00;02;19;25 - 00;02;37;29

Unknown

Yeah. That's awesome. I like hearing that. So it sounds like helped you with the spreadsheets and the numbers because that's not your forte. You sound like the visionary entrepreneur for the people that might not know you out there listening to this, you're definitely the run and gun it. Let's get this done. Right. That's your M.O.. That's that's all I want to do.

00;02;38;04 - 00;02;53;17

Unknown

I want you on the else. Yeah, that's good stuff. But it sounds like you had felt held back because of the numbers when you first came to us of like, okay, this stuff has taken a lot of time. I don't like to do it. You know, I want to get this off my plate, but I also want to run my business like a business owner.

00;02;53;17 - 00;03;15;25

Unknown

That's some of the things you were thinking at that point. Yeah, yeah. Because it's like when you when you run a business and like so a little bit background about me is like, I don't know, I do not have any real estate or business background. Before I got into real estate. Right, I got into entrepreneurs, entrepreneur, entrepreneurial space at 19, straight out of high school or like, you know, year in year after high school.

00;03;15;28 - 00;03;39;01

Unknown

So I did not have any business background. I come from a family of pedigree of real estate or, or business. So for me this was all something new. And like I nobody taught me how to work QuickBooks. Nobody tell me how to, you know, make all these bank accounts. So, it's been really, like, eye opening. And I it's, it's like the fact that I don't have to worry about it just makes my life so much easier.

00;03;39;01 - 00;03;55;25

Unknown

I can focus on what I'm actually called to do. Yeah, no, that's good, because you're called to go out there and do the deals because you're in the real estate world. Do you want to tell a little bit about what you do? Sounds like wholesale, because you already alluded to that. But like I said, for people that are listening to this, what are you doing in the real estate game.

00;03;55;28 - 00;04;17;03

Unknown

Yeah. So I mainly I'm in the creative financing space with pace. So I have done over 150, subject to transactions and seller finance transactions as done raps. I built a portfolio of mine over of 2929 single family duplexes, you know, triplexes and four plex. It's all in creative finance, even 0% seller finance deals. I have them, you know, 2% mortgage payments up to go over.

00;04;17;09 - 00;04;35;03

Unknown

So I have extensive background in creative finance and and the and the beauty about creative finance is you can keep low interest rate mortgages or 0% seller finance. But when when you're doing 150 deals in like 18 to 24 months, you cannot take down, you cannot buy every single one of them. So like what I would usually do is I'll sell it to people like pace.

00;04;35;03 - 00;04;52;28

Unknown

I'll sort of a couple of my friends saying, hey, I just don't have the bandwidth to take this down. Do you want to take it over? And then I'll make, you know, $10,000 fee and then that's that was majority of my active income. So and I and my business really blew up, beginning of 2022, I'm sorry, beginning of 2023.

00;04;53;00 - 00;05;08;19

Unknown

And, and I made so much money in such a short period time that I was like, I don't know what to do with this. How much do I set aside for taxes? Because I didn't, you know, I, I only file taxes once in my life. Everything else was, was with my family, so I had no clue how taxes work.

00;05;08;24 - 00;05;27;00

Unknown

I didn't know how to, like, keep this, keep the books clean, and but but that's where I come from. Okay. What? How would you describe your success of how you got there so quickly? Because a lot of people jump into entrepreneurship, and sometimes it's that first deal they struggle to get. And it sounds like you came out guns blazing, like, here we go.

00;05;27;00 - 00;05;47;07

Unknown

I'm going to do these deals. So how would you describe, like, what was that journey of just getting it done and especially that first deal that launched into, you know, over 100 deals? Yeah. So for me, I've, I've been in my business. We took up on the year three. Right. So I got introduced at 2020, 2020 to, to end of 2020.

00;05;47;09 - 00;06;10;05

Unknown

And it's 2021 and 2022. I actually really struggled to pay my bills because I, I didn't really know much. I was I was in the learning phase. I was learning how to talk to sellers, how to learning how to talk to real estate agents. And then once I acquired all the skills over the last 24 months, I was able to number one, I niche down on creative finance, you know, taking over mortgage payments because, yeah, you know, when the rates went up, like all the all the houses were underwater.

00;06;10;05 - 00;06;25;23

Unknown

So all the homeowners were open to, you know, hey, just take over my mortgage payment. Like I can't sell my house traditionally without coming out of pocket. So I all the skills I learned for the first 24 months of being in real estate in the business world, I was able to translate that over to the, over to the creative financing space.

00;06;25;26 - 00;06;45;25

Unknown

And I did, you know, no joke. I was doing maybe one deal every month, if that, and I started doing like 6 or 7 years a month in, like, probably, you know, as soon as, you know, January 2023 rolls around and do you attribute that to the sellers were now ready or you took your skills to a new level at the beginning of 23?

00;06;46;00 - 00;07;01;06

Unknown

What do you think would attribute the most to like, because you'd been on that road for two years and kind of was the struggle bus for two years there, it sounds like. And then it took off like was there, was there a magic formula there? Was it, you know, like you were ready at that point and the market was ready for you.

00;07;01;11 - 00;07;27;14

Unknown

And it was that good timing along with the skills you had acquired or like, what would you attribute that that a special that yeah, it's growth there. There's so many factors. But like if I were to point out three of them, it was it was number one. It was the market. Right. When because back in 2022, 2000 and, you know, 2120, 20, 2019, all these interest rates were like two, three, 4% that everybody would now, you know, would die to get a hold of.

00;07;27;16 - 00;07;44;11

Unknown

So when the, when the, when the, when they raise the rates in such a short period, period of time all the houses also were underwater. So I'd go after all the homes that were recently bought with maybe VA loan or FHA loan with very little money down. And like I knew that like if these homeowners wanted to sell the house, they were they're going to be underwater.

00;07;44;18 - 00;08;03;28

Unknown

So I, I strictly niche down into that specific, categories of people saying, hey, you're underwater, let me take over your mortgage payments and I'll sell those mortgages off to, to friends of my. So that number one was a market, and number two was obviously it was two year, 24 months of training and training and training and like, you know, sharpening my skills.

00;08;04;01 - 00;08;19;01

Unknown

And then when the time came for me to actually use it, it was you know, it was perfect time. Yeah. Right. So it was, it was, it was a, it was a market, the skills and obviously that, you know, proximity that, you know, I spend a lot of time with pace, traveling around people got exposure to me.

00;08;19;07 - 00;08;38;15

Unknown

I started posting a lot more on social media and people would just sell me, send me deals through my Instagram. Like, you know, I, I don't have videos of my Instagram. And and when you combine all of them, they was like, my business just exploded. Yeah, that's pretty cool. I like that it was the market, the skills you acquired, and then you put yourself in front of the right people.

00;08;38;15 - 00;08;58;04

Unknown

It sounds like to in order to get that exposure. And so when you were ready, because it's not just people bring you deals, it sounds like you're in proximity to be able to offload the deals as well too. Right? Right. Yeah. I mean, the, the people that I will sell deals to or the people that I build relationship with, you know, six, 12, 24 months ago.

00;08;58;06 - 00;09;18;01

Unknown

Yeah, it was like a good runway. It was a good runway. So you were building that business for a couple of years, and it was like you didn't see the payoff for a couple years. What? Okay. Because it was the two years of the seeing, not a ton of the payoff. What kept you in the game versus giving a did you feel like giving up during those two years at all?

00;09;18;06 - 00;09;40;22

Unknown

You know, like when it was struggling to pay the bills? Yes, yes, yes and no. Because the the the thing about, you know, the thing is once when you, when you, when you come out of high school and you have no other skills. But this is what I've been doing for the last four years. Yeah. You have very little options in front of you, right?

00;09;40;22 - 00;10;07;20

Unknown

Like you can't just go in. I'm just going to go back and use the skills that I've used in my other job or other businesses. Right. Like I had no other option. So like in a way, like having no other options really did help me because this I had to make this work. So then what got you into being an entrepreneur and even going down this road at the end of 2020, when you weren't born into a business type family or didn't have those skills or those types of things, was it a book?

00;10;07;27 - 00;10;25;13

Unknown

Was it something you heard? Like what? What was the catalyst for even taking you down this road and not even go the typical college route? Yeah. So when I when I graduated in 2019 from high school, I number one is I didn't really have much option. Like I didn't get into any of the schools that I apply for.

00;10;25;13 - 00;10;43;03

Unknown

And when I say schools, I only apply for one school. And I got rejected and I said, you know what, I'm going to go to community college. Yeah. So I went to community college for about a, you know, for a for a couple of, for a couple of months. And I just felt like this wasn't the right thing for me, you know, like, I feel like everybody, the community college vibe, the energy there is.

00;10;43;03 - 00;10;58;06

Unknown

You just go in, you just go out. You don't have any friendships. You don't make any friends. You're just there to take classes, to take to get the credit. And and your goal is to transfer to a different school. And I just didn't see myself doing that for two years and another two years at a university. And I.

00;10;58;08 - 00;11;13;05

Unknown

And that's when I really if I, you know, kind of tried to do try to explore different options and I, you know, from first things, first place I go to is YouTube and I'm like, how do I, what do I do? Or like, what do I do if I don't have any other options? And that's what I rented with Graham Stephan.

00;11;13;07 - 00;11;39;02

Unknown

And he was in the exact same boat. I was sitting in the parking lot at my community college listening to Graham Stephan or how we got started to real estate, and he says, I didn't like it. And he says, I did not get into Pepperdine University. So I decided to get my really real estate license. And people love people, and people love people in real estate, love helping out someone in their younger years just because, you know, they're like, oh, this is like, you know, this is like they're coming up, you know, and then I help them out a little bit.

00;11;39;04 - 00;12;06;17

Unknown

So like that's that was like my, my, you know, catalyst into getting into entrepreneurship, entrepreneurial space and, real estate. And I was and I never looked back over YouTube University. So and that's where you found Graham and then you went from there and then you when did you find peace in his group? I found pace, so there was a there was a real estate investor mentorship that I paid for.

00;12;06;17 - 00;12;26;20

Unknown

Yeah. Beginning of beginning of 2020 or middle of 2020. And and that mentorship kicked me out after six months. And about a few weeks before that, I actually before I got kicked out. Well, you get kicked out if you don't make, like $200 monthly payment. Okay. And, you know, that's why I was wondering, I'm like, how do you get kicked out of a group?

00;12;26;26 - 00;12;46;26

Unknown

So, okay, the duration of the mentorship is six months, and I, I didn't have any money to continue out of content strategy going for, so I x and then a few weeks before I run into, paces ad on Facebook. And it's like, hey, buy a house with no money, no down payment, no credit on my own.

00;12;46;26 - 00;13;04;20

Unknown

Yes. It's interesting. I don't know if this is legal, but let's, let's at least check it out. And I and I manager I didn't have, I didn't have any money but like literally like middle of 2020 they were giving out, stimulus checks. They were giving out unemployment checks. And I apply for every single money I could get.

00;13;04;20 - 00;13;24;24

Unknown

And then I actually got all of it. And just the money that I got from the government, I just, just went towards paying the sub to the sub to mentorship. And ever since then, I never really needed to go back to another mentorship. That's pretty awesome. How was it in those years giving money to get mentored?

00;13;24;26 - 00;13;39;03

Unknown

You know, like, was that a scary process in your brain? You're like, no, this is just what I need to do. And if I buckle down, I know I'm going to be successful. I mean, I'd love to get in your brain at that point, because I think a lot of people are going to resonate with like, okay, this is what he was thinking at this time.

00;13;39;10 - 00;14;02;08

Unknown

You know, going into that without having done a bunch of the deals that you've done, you know, on this side of it. Yeah, it's it's scary because you're putting into money in, in hopes that you make something out of it. Yeah. And but then the way, the way I looked at it was what else what other options do I have if I don't do this?

00;14;02;08 - 00;14;19;14

Unknown

Yeah, I like yes and yes. Granted, I didn't have any bills because I was living living with my parents at the time, but, what? I didn't have any other options. And I and I, you have you, you know, like David, you I'm sure you you, attest to this, but, like, you have a little gut feeling in you, like, I feel like this is the one.

00;14;19;17 - 00;14;38;11

Unknown

Yeah, this is the one. If I don't if I don't get into this, I don't know what else is going to get me into it. And, I think I got lucky, to be totally honest with you. Lucky in that you found real estate or that you found peace, or that you did the first mentorship and, like, spent money and you knew that, okay, if I'm going to do this, I believe in myself.

00;14;38;11 - 00;14;59;02

Unknown

Like, where do you feel like that look came from? The lock was putting my money put betting my money on the on the right mentorship with pace. Okay. And then betting and getting into the right space. Yeah I guess yeah. Like the real estate for space and yeah. What you were learning in that space makes sense. Yeah, yeah.

00;14;59;02 - 00;15;13;21

Unknown

And I, I, I said I didn't really come from a pedigree of real estate, but my dad was, my dad was actually a flipper and I. And I didn't live with my dad and my dying him. You know, my dad was living in Korea and I saw him though, like, I, I see him like once every five years.

00;15;13;21 - 00;15;31;01

Unknown

Right. So, like, my dad was flipping and I didn't he didn't really have much influence on me. But when I was in fifth grade, I, I would sign up for this broker's listing email blast every single and they will send emails of all the houses that they came up on the market. And every single I looked grab my like iPad and then look at it.

00;15;31;01 - 00;15;46;22

Unknown

I just scroll through the house. I'm like, oh, this is a nice house. It's only $500,000. Yeah. And I stopped looking at houses and I had to like, that's what really got me into it. And and this was back in fifth grade before I even this is fifth grade was. Yeah. Elementary school. Yeah. And I just love you.

00;15;46;22 - 00;16;07;11

Unknown

I just, I just love the king of houses. And I just, you know, when you and it just everything just kind of meshed into perfect, you know, perfect opportunity. Yeah. That's incredible. So at a very young age, you were doing all of this. You found the right mentorship there is also an element because you said, you know, it's a little bit scary taking that risk.

00;16;07;11 - 00;16;21;19

Unknown

But I you know, what else did I have? What about the feeling of did you believe in yourself enough where you were like, hey, I'm going to invest in this because I know even if it doesn't turn out, I can make something out of this or I can, you know, go to the next thing. What about that feeling?

00;16;21;19 - 00;16;36;01

Unknown

Because that's where I feel like a lot of people get hung up to. Is that okay? I hope this mentorship is good. But me, the work I'll put into it. What were your feelings around that at that point?

00;16;36;03 - 00;16;46;07

Unknown

Oh, that's this is such a great question. Oh gosh.

00;16;46;10 - 00;17;17;16

Unknown

I don't think anybody asked me this question before. Only the real questions here. So what do you think? Like what you can give me? Can you help me answer this question? I what do what do most people say? Most people either say they just wanted to take a bet on themselves or like myself. Let's just say my story for when I started simple cf0 in my 20s, and I know with no financial background, with like being a real estate investor and just being like, I know that people need this.

00;17;17;16 - 00;17;32;12

Unknown

Like this is something they really need. To me, it was more of the I'm going to make this work, or I want to at least help people because I've started it and I know that I can help and I, I don't know where it's going to take me. And honestly, I did have to bet on myself a little bit.

00;17;32;15 - 00;17;47;15

Unknown

But up to that point, I had some, you know, in my early to mid 20s, I had some of the like I knew I could be disciplined enough to to at least put in the work to make the action happen. But a lot of people, some people don't even have that story. They were just like, you know what?

00;17;47;17 - 00;18;03;28

Unknown

It was the market. Plus what I was doing right then. I had some quick wins that catapulted me to the next ones, or I had some hard trials up front that catapulted me to the next level of like, I if I can get through something hard, I know I can get to the next level. So I've heard everything in between.

00;18;04;01 - 00;18;20;22

Unknown

But I like to ask people is like, especially when you get into entrepreneurship at a younger age is what were those feelings around what you were feeling about yourself and like, can you I'm going to invest in this and I'm going to make it work.

00;18;20;24 - 00;18;36;23

Unknown

Gosh, I there's no wrong answer here. If you're like, I wasn't even thinking about that. You know, it's like I just wanted to find something that worked. I'm sure, I'm sure. For me, I.

00;18;36;25 - 00;18;51;09

Unknown

I think it's a lot easier to take that when you don't have anything else to lose. Right. Like you're at the bottom. You're at the bottom like financially like I was at the bottom, I literally had like 100 bucks in my bank. And I, and I wasn't ashamed of it because I was 20 at that time.

00;18;51;12 - 00;18;54;26

Unknown

Yeah.

00;18;54;28 - 00;18;58;04

Unknown

And.

00;18;58;06 - 00;19;13;05

Unknown

I just for some reason, I knew there was I knew was going to work out. I remember right before I dropped out of college, I was hanging out with my college friends. So, like, they went to, like, you know, pretty, pretty nice university. And then I was going to community college, but but the colleges were like ten minutes apart from each other.

00;19;13;05 - 00;19;40;20

Unknown

So like, when the schools were down, we were hanging out together and the and I was like, it was like halfway through it was like two, three, but two months into college and I'm like, I'm already thinking of dropping out. And this girl Michelle, that I'm hanging out with, she was like, what are you going to do? And she was one like, I think real estate, I don't really know, but I, I know I can make it work because I know I don't I know for a fact I don't have passion for school.

00;19;40;22 - 00;20;00;14

Unknown

And there and I, I vividly remember this because we were, we were it was like it was like 1130 at night and we were just like, you know, completely sober. You're driving around the neighborhood and she goes, I feel like you can make it. I feel like you could do it. Like if, like, I see you, I see like the the confidence in your voice.

00;20;00;14 - 00;20;20;09

Unknown

I thought you can make it. And that was. And when I, when I think back about that story, I'm like, I, I guess I did have confidence in myself to do it before I, before I saw the results. And I think that's, I think that's a sign of a true like entrepreneurial visionary is, oh yeah, you do things before you even see the results.

00;20;20;12 - 00;20;37;13

Unknown

Exactly. And that's a great story too. When we dug that out of the dark recesses, I feel like it was the, the, the, the story there and then someone believed in you too. It sounds like you believe in yourself and you got some of that validation from her as well too, of like, I think this what I'm going to do.

00;20;37;13 - 00;20;57;20

Unknown

And then her being able to back that up to give you that extra boost because sometimes it doesn't come from the families or, you know, friends that we have around us. Sounds like you had one good friend there that also saw something in you as well too, which is usually a big deal. A very big deal. I also want to comment that you're still in your 20s, correct?

00;20;57;22 - 00;21;32;16

Unknown

Yeah. So this is this is you're still in your early 20s and you've been working with the fractional CFO for a year. So, I mean, you've you took the ground run in early 2023. And then because we didn't even get introduced until you had other people in your life like pace and, I believe Tony, you know, his bookkeeper, that she connected us, you know, in order to get, you know, that everything done on the CFO side, what were the thoughts around that being 22 probably at that point and being like, okay, do I need a CFO?

00;21;32;16 - 00;21;50;26

Unknown

Like, what the heck is this? Is this what's going to get me to that other side? What were the thoughts then? You know, especially being a younger entrepreneur and, you know, because our typical person we work with is 35 to 45, that's usually the age range. And you came in younger because you had that vision and you saw like, I don't want to do this stuff.

00;21;51;03 - 00;22;14;22

Unknown

I'm just wondering a thought around it at that point to. Oh, no, that's the thing for me was I knew I knew I was making a lot of money. Yeah, but I wasn't really seeing it. And, and when I am and I feel like that was like every single, every single one of my friends, it's like, hey, how much money you make?

00;22;14;22 - 00;22;33;15

Unknown

I like 25, 35 grand. Okay. Like, do you have any money right now? Like, no, I don't have any money. Like, how is that possible? Like, how do you like, make money? But it's never the money is never there. Yeah. And you know, you know and I don't think that's, I think that's every business owner, right? I mean, I'm sure you can is you see that, you know, you see the common denominator.

00;22;33;18 - 00;22;52;16

Unknown

But I was like, if I'm going to if I'm going to spend money on or if I'm going to make money, like, I better be, I better be seeing this money. Yeah. And I and I and I thought, okay, like what is a CFO going to cost. Like the cost of a CFO would weigh over way like it would outweigh the benefits that I get from it.

00;22;52;16 - 00;23;13;03

Unknown

And like you put months, 12 months into it, like you know, like I'm paying $0 in taxes because my CFO helped me along the way, saying she was with my accountant and my bookkeeper and with me, like simultaneously to make sure like as the year goes by, like, I'm not spending, you know, I'm not like, I'm strategizing for taxes, for all my businesses.

00;23;13;06 - 00;23;30;24

Unknown

And but also, you know, going back to, like to answer your question, it was a good feeling. That's so great. But, you hit the nail on the head of what we hear all the time. I like to sum it up that our all entrepreneurs at one time make money but feel broke. And that's where I'm hearing from you.

00;23;30;24 - 00;23;53;07

Unknown

It's like I'm making this money. Where's it all going. Yeah. And I it's funny too, because it usually takes a while for people to get in, you know, to that mindset that I need someone like this. And like I said, our typical age range that we're working with, I think something else that's key, that if you're listening to this, what Kevin hit on, he was a part of a group.

00;23;53;07 - 00;24;09;17

Unknown

Like he didn't just find me randomly because he was typing in for actual CFO. He was part of a group that made an introduction to us because they knew that this could be a potential outlet. So it's very important where you align yourself with, because I think what you did, Kevin, was you put some great mentorships in front of you.

00;24;09;17 - 00;24;40;25

Unknown

White pieces that also connected you to some key elements that are in your business now, and making sure that you have, you know, the right team, in the right processes and that you've got a great outlet for buying and selling and all of that. So I think that's another key piece that you hit on that I want to make sure that it's if you're listening to this, that is another key piece, is finding your tribe that really is going to help you in all areas of the business, not just what most people focus on, which is the make money portion.

00;24;40;28 - 00;24;55;12

Unknown

That's why I love pace in his mentorship, because he's not just about making the money. He loves the let's keep it, let's do profit first. Let's do some of this stuff to keep it as well too. So I just wanted to make sure I hit on that, because I think that was another key area that you talked on.

00;24;55;15 - 00;25;20;28

Unknown

Awesome. Well, I know you're wanting to get into the multifamily space. I'm going to just ask maybe 1 or 2 questions. We'll wind it down here. But you are now looking to get out of the single family, correct. And maybe go towards the multifamily route. That's correct. So I have, over the last 14 months or so, I've had 29 single family homes, duplex, tri price complexes.

00;25;21;00 - 00;25;41;19

Unknown

And those are great moneymakers for sure. But it's like as an entrepreneur, when you do something for a extended period of time, you you get bored of it. Listeners first. So for me, I'm, I'm getting my, my my partner is actually, buying my portions out of it. Yeah. On seller finance so that I don't have to like, worry about a single family set aside.

00;25;41;26 - 00;26;01;10

Unknown

And I'm going into the multifamily, but specifically on the multifamily, I want to be known as a multifamily guy that specialize in seller finance under like 30, between 30 to 50 units. Like, that's what I want to be known for. So, you know, in order for me to do that, I got it, you know, take things off my place so that I can, like, literally laser focus on one, on few calls that I have.

00;26;01;12 - 00;26;22;26

Unknown

That's awesome. Well, I've. I'm sorry. I have to it. It's a little bit funny where you're like, oh, we get bored of the things, and it's like you're 23. And I was that like, you are a visionary to the max, y'all. Man, I honestly, I cannot wait ten years from now to see like what skyscraper you own in like, Dubai or something.

00;26;22;29 - 00;26;42;16

Unknown

Because I feel like with the trajectory you're on, you've got the world. The sky's the limit. Not even for you. Like, yeah, yeah, you'll be one of the ones on a space-x rocket ship. Go. I'm. I'm curious. Like Mars. Yeah. Like curious. Like I as a visionary yourself. Yeah. Like, I feel like most visionaries have, like, commitment problems, don't you think?

00;26;42;17 - 00;27;06;10

Unknown

Oh, yes. Holy crap. Oh, it is, it's what the. Well, it's the shiny object syndrome, right? That we all have. What's the next thing? Where are we going? Where? Someone told me early on in my business career, and I think me working in the real estate space, that good business is boring. Like, if you can get it to where business is boring, then you're making the real money that you can keep.

00;27;06;12 - 00;27;31;12

Unknown

And someone said that to me. I'm like, ooh, that's good, because it resonated with me. Been I'm a focused guy. I like going deep. I like making the money. I like making sure that I'm providing a good service, all that stuff. But for you, I you're in the same space. If you go from single family to multifamily, but because you can use your same skills, that's almost like, that's not a squirrel to me, a squirrel would be gone from single family to a, you know, like a ski boat rental company or something.

00;27;31;12 - 00;27;50;23

Unknown

Oh, you know, like, I don't know, it's like you're going off and doing something crazy over there. You know, Amazon stores, they're the next big thing. It's like whoa, whoa, whoa. Like just because it sounds exciting and fun. How good are you at the the core business you have right now? So but that was great. Yes, we do have commitment issues usually as entrepreneurs.

00;27;50;25 - 00;28;04;27

Unknown

But whether the thing for you. But I think for you and me, it's like you, I feel like you and I could touch, like, not like random businesses, but like the business that you're passionate about it, you're like, oh, this is something that I want to get into. Yeah. You like, you can touch it and you still make good money with it.

00;28;04;27 - 00;28;37;03

Unknown

Like whether it's like commitment issues or not, like you still make you make it profitable. Yes. Especially since we're talking and you understand the importance of keeping it, of having someone on your team that's also protecting you and making sure that you know where you stand financially. Because that's really the key is like, if you have shiny object syndrome, you need someone on your team to either rein you in or say, if you go down this road, do we have a good system to make sure you're not just creating another monster for yourself, you know that you got into in the first place.

00;28;37;03 - 00;28;53;10

Unknown

So I think that's another key that people are missing is that even if you have that, you need to have, you know, the shiny object syndrome, you need to have someone that's protecting you as well, too. So I think that's another key point. Yeah. That was such a good point. Commitment issues. That was that was good. That was good stuff.

00;28;53;12 - 00;29;11;19

Unknown

Kevin, this has been a lot of fun. How do people get Ahold of you if they want to get in touch with you? How do you how do they find Kevin? The best way to get Ahold of me is, It's on Instagram. It's the Kevin Cho is the handle. I just easily changed it. It's the Kevin Cho because somebody else to Kevin Cho, and they wouldn't give it to me.

00;29;11;19 - 00;29;28;12

Unknown

So, so I might also be the Kevin Cho, so. Yeah. There you go. I just had to change my name too. So I'm David Richter, so we're right in that same boat. I feel like we've got a lot of the same stuff going on here. This is a little bit. Oh. Is pretty funny. Kevin, this has been awesome.

00;29;28;12 - 00;29;45;24

Unknown

And if you're out there listening to this, Kevin is 23. He is kicking butt. Some of the key takeaways I got from this is that Kevin aligned himself with the right people. He didn't give up. He believed in himself. He surround himself also with some good friends at key crucial points in his time that were honest with him as well too.

00;29;45;28 - 00;30;03;12

Unknown

There's some really good stuff that we got out of this that I believe that if you take this and run with it, you can learn from Kevin and what he's doing in the real estate space and as an entrepreneur. And if you feel like Kevin did at the beginning, like I am making money but feeling broke and you need that help, go to simple cfo.com.

00;30;03;15 - 00;30;21;23

Unknown

We could give you someone like Tiffany, one of our CFOs on our team, to make sure you know where the money's going and you keep more. And that way you have zero in taxes, or you do the things that are important to you in your business. I love what you said, Kevin. You're like, I love doing the deals and I love focusing on, you know, what you're good at your superpowers.

00;30;21;29 - 00;30;39;28

Unknown

We want you to focus on that. So that's what we're doing. We're trying to help people with that. On the financial. And Kevin, again, thank you so much for being on our podcast and sharing with our listeners here and providing a ton of value. Thank you so much. This episode of the Profit First for ROI podcast is over, but there are plenty more where that came from.

00;30;40;01 - 00;31;04;04

Unknown

Are you ready to learn how David and his team can help implement the profit first system in your business? Schedule a discovery call at simple cfo.com right now. We'll see you next time on the Profit First for ROI podcast with David Richter.