In this episode, Pamela and Ron talked about how his success came to be. The highlights are as follows:
– What inspired Ron’s journey toward success?
– Some of his biggest lessons in real estate?
– How did Ron transition to his career over time?
– What would Ron tell his younger self based on what he knew now?
– In the next six to 12 months What’s coming up in Ron’s world?
Listen to how Ron LeGrand shares his remarkable story. Listen to the full episode here:
– Apple iTunes: https://podcasts.apple.com/us/podcast/underdog/id1534385651
– Website: https://theunderdogshow.com/
If you found this story worth your time and made changes in your life, we’d love to hear from you! Subscribe and leave a review.
Catch up with Ron on his social links here:
– Website: https://www.ronlegrand.com/
– Instagram: https://www.instagram.com/realronlegrand/
– YouTube: https://www.youtube.com/ronlegrand
– LinkedIn: https://www.linkedin.com/in/ronlegrand/
– Podcast: https://thementorpodcast.com/
Get a guide through the application for Mentoring. Check out: https://www.ronlegrand.com/pb.
The Underdog Podcast host is none other than Pamela Bardhi. She’s rocking the Real Estate Realm and has dedicated her life as a Life Coach. She is also Forbes Real Estate Council. To know more about this amazing woman, check out the following:
– Website: https://pamelabardhi.com
– Instagram: https://www.instagram.com/pamela_bardhi
– TikTok: https://www.tiktok.com/@pamela_bardhi
Click To Read The Transcript
Ron LeGrand Shares his #1 Top Secret Strategy of How to Make Massive Profits through Real Estate Investing
Hi, I’m Kevin Harrington, an original Shark from the hit television show Shark Tank and you’re listening to the underdog podcast
Hello everyone and welcome to another episode of underdog. Today I have an amazing guest here with me the man, the legend Ron Legrand, how are you, my friend?
Pam, I couldn’t be better.
You are amazing Ron. Oh my goodness, it is such an honor to have you here you are a real estate legend. I’m sure you know that. And I’m just honored to have you here today. So thank you so so much. I met you at the family mastermind and I was just like, you had me cracking up with jokes left and right. I’m like, I love this guy. I want to hear all about him who he is what he’s about. He’s obviously you’re a legend in the real estate space. That’s without a doubt. But I know you have an amazing story. So I’m gonna start you off with my favorite question. Which is one of my favorite questions if that’s all good. What inspired you on your journey to where you are today, my friend?
Well, it started with hunger. Back in 1982 when I was running a service station, I could hardly pay the bills. Can’t go the grocery store twice a week and afford to go once a week. I was 35 years old when I started dead broke, clueless, and had no idea and no money, no credit. And I saw an ad that says Kern learn how to buy real estate with no money and no credit. Of course, I didn’t believe that that was a scam for sure. But I went down and I checked it out. And the next thing I know is in a two-day seminar where I spent the whole two days trying to learn how to buy most of that went just like that.
But I picked up wholesaling that I couldn’t get my head around, went out, and did my first deal. Within three weeks actually made three grand on it. And that was the beginning for me, then I started keep doing it. Next thing you know, I quit my job and just kept on doing it and doing all the stupid stuff. You know, buying all the garbage in the garbage areas and dealing with the low-end tenants and a lot of them are section 800 tenants. And what I do is just make a big old mess. I was making more money I made on my job, but I short-paid for it. Because I remember you were started in the restaurant business way back and you would only work 14 hours a day.
That was about how many days I put it in as well when hours I put it when I started. But over the years, I started learning how to do the business correctly and turn it into a cash flow machine. Rather than just stick tenants in it and hope I live long enough to get rich at it. And we’ve been developing that system. Now I’m in my 41st year I’ve done 40 years at this part of 1000s and 1000s of houses. Done a lot of commercial development, and been through just about everything you can do in real estate, wholesaling rehabbing hundreds and hundreds of each of those.
But today, I’m more into the terms business. In other words, I buy on terms and I sell on terms, which creates a lot of revenue streams that wholesaling and retailing don’t have. And I become a specialist in that. And I got 1000s of people out there in the country working on pretty houses and pretty neighborhoods. Instead of all the junk in the crappy neighborhoods. So that’s, we do this without money without credit. We build wealth quickly, both inside and outside of tax-free retirement accounts. So that’s what I do today. But that is not always the way it was. I started with a washing machine that I couldn’t afford to buy my wife back in 1982.
And I just made the decision one day I’m not gonna live like this the rest of my life. And I didn’t difference between me and most though I went to the seminar and I went out and did something. Instead of going to the seminar and going back home and doing nothing and hoping to win the lottery.
I love it. Ron, thank you so much for sharing all of that. You’re such a rockstar. But now I gotta ask you like, what did you want to be when you grew up? Like as a kid? What was your dream? Ah, there you go. So you’ve made it that in that case, you wanted to be a CEO,
I remember this is a truth back in that seminar. 1982 I got a manual. And I made notes in that manual because I still had that manual. My real goal in life was to make $100,000 a year. I mean, I look at that, and I laugh today that’s my was my goal. My wife spends more money than that on the video poker machine. It was funny that I mean, funny. Now I went funny back then that was my big Lifetime Achievement back then. And like $100,000 a year. So anyway, we saw we’ve got to start somewhere. See, it’s not about learning.
Learning is just the first step and then we got to implement. That’s where all the help comes in, where the coaches come in. That’s where the system’s come in. We’ve set up over the years.My folks hardly have to do anything. I mean, there’s nothing for them to do but make decisions because everything else is done for him. And that takes a long time to get to that point but it’s never been easier. You Buy and sell houses. And it is today, even in this hot market,
Right? Oh man, now we’re on I gotta know, like, Who inspired you growing up,
I first started my first seminar was a Robert Allen seminar today, by the way, he and I are best buddies. As you know, we duke it out on stage the other day. Like, hey, you were there. And then I followed Marco Harrelson a lot out to wake up the financial genius inside you. But I didn’t have one main teacher, back then we had to grab everything we get a truckload of books and tapes. I went everywhere I could go, I went to every seminar that I could get into.
And even though I couldn’t afford it, and just picked up some from everybody. And then found my own way, by implementing what felt comfortable to me. I had the shiny object syndrome always pulled in multiple different directions. Like many people are trying to do everything and not focusing on one thing long enough to make it work. Frankly, that’s probably why if not one of the longest-lasting real estate training companies in America today.
Because I stayed on that mission of not only still buying properties like I do today. In fact, I have student partners all over the place today. But also staying on and missing teaching it not going bouncing around with other stuff like some of my predecessors, have not. So we still do today we have a whole company does nothing but teach people how to get into real estate. And get wealthy at it without using money or credit.
That’s amazing. So you just said without money or credit. So that’s the number one deterrent to anybody wanting to get into real estate. And then like you said, you’re like, that’s a sham. There’s no way that that’s possible.
People for being skeptical. Yeah, a bunch of crap out there. I mean, I don’t blame them a bit. So it’s up to them to decide whether they want to come learn the facts. Or they want to keep listening to fake news or whatever. I don’t know, whoever they’re listening to. But you know, we’ve been around a long time. So obviously, we’re doing something right.
Absolutely. What are some of like, the common myths that you hear all the time, Ron? And like, how do you combat them?
Well, first of all, people think they need credit. And I am absolutely totally against that. It is the number one biggest mistake you can make in real estate is to guarantee debt. You guaranteed debt, you’re the slave of the lender, you risk your credit, you risk your assets, and you risk your marriage. Because you just haven’t take time to learn how to buy houses without guaranteeing debt. I do not guarantee debt. And fact I sent a big ugly guy named Guido out to hurt people that I catch guaranteeing debt, do not guarantee debt.
In fact, if you’ve been through 2008, you learn that lesson the hard way, we do not guarantee debt. And we don’t write big checks unless we are clear on what we’re going to do with that big check. If I’m writing a big check, that means I’m gonna get a bigger check back quickly. I’m not going to bury that money in real estate long term, because my rate of return would be zero. If I can make the real estate is going to do the same with or without your money buried in it. So if your money is buried in it, you think about it, you’re not getting, you’re getting a zero rate of return. It could be taking that money and doing a lot better things with it.
One of the things I like doing with money is paying cash for houses. Whether I flipped them wholesale, which I don’t do anymore, or whether I rehab them or retail. That rate of return is ridiculous compared to what most people think you can do with cash. Training real estate investors know how to get a humongous rate of return on cash. But real estate is the vehicle that generates cash now, not the one that sucks up the cash. We don’t use our money or our credit to buy real estate. But if we do use our money, I want it back quickly with a larger check. And thirdly, we don’t make promises we can’t keep.
We use attorneys to close everything we’re documented. If something goes wrong, somebody wants to come back and say we took advantage of him, we got all of the documents. And that case should go away very, very quickly. So we don’t write big checks. We don’t guarantee debt, we don’t make promises. And we use professionals all along the way and exchange a little bit of money to let them do what they do best. So we can step back and do what we do best. That’s what we do we make deals and extremely profitable.
I love that. Ron, I love that you said don’t guarantee debt. Because I find myself guaranteeing debt a lot. How do I not guarantee that?
I’m gonna have to send Guido after yeah, that’s all I can tell you. You got to stop that nonsense or you’re gonna I’m going to have to hurt your family. Let’s take an example then let’s say you own a home for 40,000 bucks, okay, and you want to sell that home. And you’re okay with that. Let’s say you owe 350 on it and you got a payment of $2,500 a month. Now you need to sell all right, you contact us or we contact you. We’re going to ask you Is it okay? If we take over the payment start making your payment on your house. Buy the house now and we will pay the rest sometime later in the future.
The difference between No What is it the 350 and the 400? Do we agree that I’m gonna buy your house forgot me so far? Okay. That means that I’m going to buy your house with a wraparound mortgage or wrap-around deed of trust. So now the issue is how much do we put down get this panel? At least 50% of the deals we do are nothing down. Because it’s a great script that works so well. And when we get them on the telephone, first question is, if we do agree upon these terms, what’s the least you could take? And they give us a number? Then what’s the best you can do to give us another number? And then the second question is, we usually buy with nothing down.
Okay? If that question is asked correctly, with those exact words, you’d be shocked how many people say, okay, all right. And then if not, what’s the least you could take now. So I’m looking for term deals, that I can get the seller to finance or take over their debt. Or in some cases lease with an option to buy if they can’t. If they don’t want to sell it till their debt is paid off. And then I’ll sublease it to a tenant-buyer. Our back end is going to be the same regardless of how we get in the front end. So if I bought a house for $400,000, let’s say I put 10 down. I’m putting that house back on the market on the lease purchase them for at least 450.
And because I’m assuming if I buy it for 400, it’s at least a little bit below market value. So I’m going to get at least a $50,000 non-refundable option deposit on that property from a tenant buyer who cannot qualify for the loan at the bank. By the way, it’s about 70% of the marketplace cannot qualify, they would like to buy a house. So I got that whole market to myself, and anybody else that I might be competing within the marketplace. This means they’ve been properly trained by me. I’ve trained hundreds of 1000s of people. And I’ve got people doing the terms business all over the country.
So I’ll buy the house and put it right back on the market bought it with terms to sell it with terms. Get a $50,000 non-refundable deposit, and then I’ll get a spread between what my rent is from my tenant buyer opposed to what I’m paying to the seller. And in today’s market with these low-interest rates, payments are rather low. So these spreads get quite big very quickly. And there it is my residual income, I get a great big check upfront. Probably as big as anybody’s gonna get rehabbing a house. I might add without doing all the work.
This is a beautiful house in a beautiful neighborhood, not a piece of crap. And he’s rehabbing it takes months to go through, I don’t touch the house. Usually, I buy it, I put it right back on the market as soon as it’s available. But I put it out there with a lease purchase, which you got to know he’s going to flood the people in. So I’m only looking for the ones who have enough money to satisfy me. I am the loan committee. And all you got to do is convince me you got enough money and you can afford the monthly payment.
And by the way, I named the price I never named the down I never needed the monthly. The market tells me what’s the most you can pay down what’s the most you can pay per month. That’s why we give great big monthly payments. And we get these big front-end deposits. So then we put them in the house and we forget about it. Here’s the cool part. I mean, I think it’s the goal apart from all the people that I put in the houses. Only about 10% of them actually go get a loan close on it. Can you imagine that, and they walk away because their deposit is non-refundable, clearly spelled out in his docs and spelled out?
But if I’m the attorney, now if they buy, I have to give them credit towards your down payment. But I don’t have to bring that check the closing, it’s just a credit on the closing state. So the minute they hand me that $50,000 My money and do whatever I want to do with. If they don’t buy, they forfeited. And that’s very clear upfront another reason to close with an attorney, most of them don’t buy, they live in it. And while I’ve got two tenants right now, in the house over 12 years option expired 11 years ago. By the way, when I put them in the house, all of the repairs are their responsibility. I give them 30 days where I want the systems, everything after that is their responsibility. It’s a condition of their option has nothing to do with landlord-tenant law.
So they accept that responsibility. I’ve had him the keys and set it and forget it. They don’t call me if their toilets are plugged up. And the cool thing is if they don’t pay to rent them, then they forfeit their option deposit. So I don’t have any trouble collecting rents all the way through COVID. I have any issue collecting rents because they know their deposit. In other words, they got skin in the game, they’re not tenants, their tenant buyers. It’s a totally different breed of human because I spent my whole early years putting tenants in houses and I don’t ever want. I’ll never put a tenant in a single-family house again. Why would I can get 1000s of dollars from them and pass on the repairs to them?
I see no reason to straight and rent a single-family house makes no sense whatsoever. So that’s what we’re what we do today and the higher priced house we deal in the more deposit. We get the more spread we get the more wealth we build. But in addition to that, we have depreciation because we own the property tonne of taxes say appreciation. How important is that in today’s market you know I mean prices a house is going nuts and then we have debt paid out. Because we didn’t quick flip it get in get out. Yeah, look, I’ve quickly flipped a lot of houses. I taught it for years but I’m going to tell you today. I teach people might want to be thinking a little bit more about tomorrow than just to get in and get it up on wholesaling house.
Or if I’m rehabbing a house as you do. Problem is I get one check. A maximum tax isn’t that I gotta get up, go do it again. Keep doing it. Again. I’m all for residual income or I keep getting paid in multiple different ways. Do it once and continue getting paid for years into the future and doing it without risks. Because we do not guarantee that and we do not write big checks. By the way, if I write a check Let’s say I put up 10 grand to buy that house. I just want to get back 50 within 30 days.
So I’ll write that check, because I know I’m gonna get it back quickly. So it’s a different business that is being taught, especially on television on those so-called reality shows. It’s a totally different business. And but it’s a business to create wealth, not just grades, a simple single check. That was a short answer to short, it was a long answer a short question, what?
Oh, my God, no, Ron, that’s amazing. And that’s so brilliant, because like you said, like, I mean, a lot of us want to go out and want to flip. And kind of be in and out and short-term gain and all of that. But as you were speaking, I’m like, that is just so brilliant. That’s a brilliant model, because you’re creating different revenue streams, and your risk levels really not that high. It’s really just that initial purchase, however, you choose to finance that, you know,
How do you not guarantee debt? Yeah, I don’t guarantee debt because I’m not the buyer. My land trust buys the House Trust guarantees the debt. The only thing that the trust owns is that one house and commercial. I know you do commercials, I teach commercials, I’ve done a lot of commercials. One time I had 32 developments going on simultaneously. Some of those cases I guaranteed debt. And that wasn’t prior to 2008. When 2008 hit, certainly wished I had not guaranteed that debt, because it still haunts me to the day. Because those projects did not do well after 2000 exit strategy totally dried up. So all that personally guaranteed debt was at risk, I will not do it again. And today I teach how to do commercials without guaranteeing debt. Some deals you can do without guaranteeing debt.
For example, I just bought a piece of land, and Michigan for the student 57 acres put $50,000, down and seller financed the other 600,000 for three years. So in other words, I got three years of seller financing to take that project and turn it around. But all frankly, all I did was listed with a realtor and they got it on the market for $1.5 million. So I didn’t guarantee debt. But I did write a check. In that case, bought that land. And I do have 50 grand sitting there. All right. On the other hand, the upside is when it sells that will be irrelevant and ready to return to be ridiculous. There’s all kinds of ways to buy both residential and personal property. Or I mean commercial property without guaranteeing debt.
And in those cases where debt is required, I simply get somebody else to guarantee the debt. Or in the case of commercial, we go after non-recourse debt. And there is plenty of it out there meaning no personal guarantee. So there’s always a way to do deals, that’s assuming you’re not just going to flip it. I mean, I’ll teach anybody today, the worst thing you can do to yourself is to flip it. Because there’s a whole lot more money in keeping it the longer you own a house, the more money you’ll make no, no exceptions.
And unless in my example, I got a $50,000 down payment, how many rehabbers actually make more than that on their average rehab. Look at all the crap they got to go through to get it and all the risk. And raising the capital and the contractors and the price increases and all picky buyers and all that stuff. Well, I’ve done my share of that. I’d prefer to take it the easy and most profitable way today. Look at this hair today. It wasn’t always great.
Right? Oh my goodness you were talking a little bit about your experience in real estate. So you’ve done it all. Like you’ve seen all this I mean lease terms, this is definitely the most profitable option. What were some of your biggest lessons in real estate? What would you advise
Not guaranteeing debt. The big lesson I learned is quit trying to do everything myself. I mean, today we’re so automated and systemized when our students come in. All we got to do is plug and play. Everything’s calls are taken for them calls are made for them for calling I do is make decisions. Really, that’s all I do in my business. And the real estate business is pretty easy for us to teach folks. You know, in the beginning, it looks complicated to them. And you and I both know No, nowhere near as complicated as it is. In fact, if you want to get something complicated, go open a restaurant, right, Pamela? Yes. If you want to know what a real business is, like, go open a restaurant, I’ve had six of them, okay.
And that’s enough. By the way, think about what you do in a restaurant. All the money you gotta put up, open it, all the risks. You gotta take the manpower, the food, and then all those other expenses, which are constantly climbing at a rapid pace. Just any only got to work a half a day just got to figure out which 12 hours it is right, Pam. I don’t like all of that to make what a little teeny bit of money. I can go flip a piece of crap house in a junk neighborhood and make more than most people make running a restaurant. Most people, 90% of the restaurants in this country don’t make as much per month. As one wholesale flip can make them honestly with none of that crap, none of that crap.
The ones that do make money are on the upper level, usually franchised and got all systems in place. And lost a fortune to get to the point where they can actually make money. And then here comes COVID Of course. So by the way, COVID was a very good year for all my people in the real estate business. For some reason they did better in 2020 and 2019 which makes the case people always need to sell houses, and people always need to buy houses. I don’t care what the economy or what the situation is, whether it’s inflation, COVID, or whatever. We’re in a very stable business that will never run out of customers never go out of style.
Because people always need a place to live. And it makes no difference. Where do you live, you and I were that were discussing it earlier, makes no difference where you live. And if you can’t do deals where you’re at, you won’t do deals in any other city either. It makes no difference how much your credit is because you’re never going to use it ever. My planet not hopefully, I’m wrong. You’re not going to fill out an application. In fact, I hope your credit score is minus 680, then you won’t be tempted to go into and try to apply for credit. Because that’s a big mistake, in my opinion. So I learned the hard way to delegate, I wanted to do everything myself, I didn’t think anything could be done without me.
And over the years I learned from you guys, listen, you better write this one down. Because you ain’t gonna believe it in the beginning. You’re ready for this Pam. There’s not one damn thing you do in your business that somebody else cannot do for you. Not one, not even the decisions. I’m a living breathing example of that. But first, you got to be willing to turn loose and work with him long enough to where you can trust him to do all of this stuff. In my company. Today, I don’t know how many employees we got because I don’t write the checks.
Got people running that company. And I’m just interrupting every now and then creating a little chaos and teaching and getting on podcasts like I’m doing right now. It all runs without me. I have my real estate business runs without me. Even when the restaurants I had the restaurants I had a general manager. You couldn’t see me in there and an apron. Every once in a while I did go in there and interfere a little bit. I remember one time I ran up half price offer Pamela you can relate to this. Oh my god half on half off of every entree on the menu. Oh, he made a Christmas. Here they come I think busloads of people all at the same.
And I quickly realized that we didn’t have this mob. I mean, they put us in the weeds in a hurry, I started handing out rain checks. Okay, come back later, can’t let you in now here come back later and get your deal. Anyway, that’s about the only time that I get involved, I had to clean up by the way. And my poor host, my poor host, she was under so much pressure, she quit. He quit. I just happen to be in there eating. So I took over became the host that night. That’s about as involved as I got other than the planning and helping them with the menu and so forth. So I learned the hard way.
Let other people do what they do best. Get out of their way and let them do it. Exchange a little bit of money for stuff you don’t want to do. Especially the stuff you don’t want to do and hate to do delegate it and get out of the way. And watch how fast your business grows when you’re not in minutiae every day putting out every teeny little fire. And don’t have any time to make any good decisions because you’re making all the jump decisions throughout the entire day. All right, and I forgot what your question was.
No, that was perfect. No, that just No, that was just some advice that you were giving. And you mentioned the restaurant world. So you mentioned you were 35 You went to the seminar and then got into real estate but before that, what was your career like run?
I was running service station, the service station. I was the mechanic as well as the person managing the station responsible for all of it. Not only was I My job was even to go out pump gas. So you know I had a couple of employees. But can you imagine I’m a mechanic and then sometimes I got to go out pump gas? Because that was back when we actually pump gas for people. Pamela, you wouldn’t remember that far back.
I love it, Ron, and so like you mentioned that you went to the seminar and that you actually went and did something about it with what you learned. Yeah, what were some of the things that you did to actually execute?
I just went into the MLS I made an offer on a property and crap it. Got accepted and I just flipped it for $3,000 That’s all I did. I mean, I didn’t know much I didn’t know really idea what I was doing back. I remember when I got that first $3,000 Check. Pamela, I was sitting at the title company closing it and counting in my head all the ways that this is gonna go wrong. I’m not gonna get my money, I need that money. Like I needed oxygen. You know, I didn’t know I’m gonna come just knew it. And here it came. And now I got the check and I thought this is gonna bounce. I’m gonna go cash right away. Title Company write me a check, I think it’s gonna bounce.
This is all the crap that goes through your head. When you’re in a position where you don’t have a lot of resources to work with and you’re analyzing everything to death. And you know, you both know people just analyze this thing to death at the paralysis of analysis. Of course, biggest hurdle we have to overcome his fear. I’ll tell you right now and you know, write checks do not guarantee and debt don’t make promises. You can’t keep your head in the hole up there. Be afraid, You think about it. What can you lose? You got nothing to lose because you got nothing to risk. And that’s the way I like it. That’s the way I teach people as well.
That’s amazing, Ron, that’s amazing. It’s just fascinating to see the trajectory and like how you gone through so many different waves of the real estate space. Like flipping and the commercial and now in terms business and all the things in six restaurants. I can’t even imagine how you dealt with six restaurants. Ron, was this like, while you were in real estate? Oh, my goodness.
Yeah. Oh, yeah. Yeah, my first restaurant was 2006, I think we closed it right. I was in Myrtle Beach, closed it right after 2008 here. And then I had three delis and two other and I build out to other restaurants after that, you know, I’m a slow learner. How much slower? by the way, the last one I sold in September of 2019. So you know, when all that bad timing one time. I went to that restaurant to eat the other day. And the guy says, Hey, you want to buy this thing back? I’ll give you a great deal on it. No, thank you.
I said, Nope. No, I don’t think so. Hey, I would like to give a chance to have a little conversation with one of my team about how they can get started in real estate. If they want to know if you like what you hear because I do hear the same stuff. There’s a lot of reasons why people don’t get started. Well, they need money. Do I need credit? Will it work here? Will it work in this extremely hot market? And the answer is absolute yes. We’re here. Okay. Well, how do I get started? all of these questions need to be answered. And first thing you want to do is probably talk with someone about it and I can give you a chance to do that. If you go to ronlegrand.com forward slash PD.
Wonder what that stands for P D. as your initials. All right, ronlegrand.com, forward slash P D. And then I’ll application and somebody will get back to you. By the way, we’re not selling anything as though you know, it’s all about you and how you get started. We will arrange a better 30-minute conversation with you. And get to know you a little bit and figure out where you are and what’s stopping. That kind of thing and tell you what we think you need to do.
What Would Ron Older Self Tell His Younger Self
Ron, I was going to ask you, you know, what would your older self tell your younger self based on what you know now and it could be real estate life anything?
Okay, first of all, the things that are important to me today at 75 years of age, are laughable about what was important to me back then. And what was so important back then I could care less about the day. One of the hard lessons you learn while you’re on this quest all your life and making money. You better make sure you take care of the people that are taking care of you people are going to be around forever. This making money then comes and goes. And pretty soon it can consume you. And I will also look for help get qualified help doesn’t mean employees necessarily. It means other people can do things for you delegate everything you can do.
We have a whole floor of person of VA virtual assistants, for example, I do all the calling for you managing your site. Run your ads do all that junk for you for pennies. We have another company that takes inbound calls 24 hours a day from buyers and sellers for pennies. Now think about just what those two things alone will take off of your back. So over the years, we’ve developed people and systems to do that for you. So really get help. Because if you don’t, I can tell you what’s going to likely happen. minutia is going to come in that a suck up your day, nothing great happened. Because it’s so hard for us to stay focused.
If we delegate all the junk we don’t want to do there’s not much for us to focus on. Except making sure that stuff is getting done and making sure that it’s followed up on and implementation training without implementation. It leads to frustration. It just makes you know, it can be done, but you’re not getting it done. So the implementation, when others are doing it for you makes a big difference and your success ratio. So not only do we have implementation, but we have people to work with you one on one if you want them. And the training events to educate you and then work with you for as long as you want to work with us. And frankly, I have been at this a long, long, long, long time.
And there’s a reason we’re still around. That’s because we take care of the people who take care of us. So my big lessons were get help and quit worrying about all the things that you’re worrying about now and put yourself at no risk. That is a big deal to me, Pamela, do this business without risk and then you won’t be starting all over later because you screwed up. And also don’t forget our partner in Washington called the IRS. As one gorilla you do not want to dance with they have they’re the biggest collection agency in the world. And people coming into real estate our business for themselves, forget are don’t know.
That is now our responsibility to pay our taxes quarterly because nobody’s taken it out of our check anymore. And I see people making the mistake of not doing that. And they got this great big tax bill the IRS is chasing them and, you know, puts a great big dent in their career. I also teach people how to protect themselves against predators. But the IRS is one predator that is very difficult to protect yourself against. So we got to learn to pay our taxes. Simultaneously, we got to learn to legally reduce that tax liability. Which is something we always work on when we get in front of people. Now their long answer to a short question.
No, no, I love it. I absolutely love it, Ron. And you know, given that you’ve seen six cycles, you said, Yeah, at least. So what are your thoughts on the market right now?
It’s either gonna go up or come down. Yeah. Which way? Do you think it’s not really gonna go? Alright, well, first of all, there’s no question we’re going to have another recession. It looked back, we’ve always had our ups and downs. Nobody knows when every talking head on television got an opinion, all of it is worthless. And it just gets spread from one show to another. Anyone? Nobody knows the answer. Okay, not even the people in control in Washington know the answer. So here’s the pluses is that we have a serious housing shortage in this country. I mean, I heard another day, like 4 million houses were short. All right, that’s a plus for the market to keep going. And then there’s the minuses and that’s this inflation thing, inflation.
You know, when the interest rates go up, obviously, people stop buying, and it affects everything else in our life. And the more money people have to spend, the less they can afford to buy a house. So then you got the democratic influence in Washington with all of the crazy stuff they’re doing and all the money they’re given away. And the decisions they make seem so incredibly stupid to me, I can’t predict what stupid decisions they’re going to make next. So there’s no way to predict what’s going to happen to our market. But here’s what I can predict. If you take care of your house, you won’t have time to worry about what’s going on in the White House.
Which you can’t control, get your cash flow up, get your money in the bank, get your stability there. Get your income to the point where you can depend on it. And it doesn’t depend on inflation. One thing I love about real estate income ain’t going away. Because even when values of houses come down, rents do not. In fact, they might even go up like they did last year. I live in Jacksonville, Florida, second largest increase in rent city in the United States last year, second largest behind Austin. And I find that pretty much all over the country. So rents are going up, And so we’re in a very, very stable thing called Real Estate.
So no matter what they do up there whatever else happens, whatever disease comes, we’re always going to be collecting rent. Because people have to have a place to live. And that’s, that’s stability as far as income goes from that monthly spread that I was describing. So I don’t know what’s going to happen. I get to the point where I really don’t care. Because to be honest, Pam a good recession is the best thing could happen to real estate investors like us. Yeah, easier to buy easier to sell better deals. If we can do it in a suit in this extremely hot market, we certainly can think of what it’s going to be like when we get back into a down market. And we will sooner or later.
Absolutely. I love that, Ron, I love that. So in with everything that you mentioned, what’s up in your world in the next six to 12 months? What’s run-up to?
Well, I spend my time working with my company, global publishing, and helping other people as fast as we can. We’re always looking for better ways to do that and make it easier for him. Do as much for him as we can. I still buy houses, I don’t buy him like I used to buy him. In fact, I mean, just don’t, I don’t have the need to buy like it used to buy him. But I don’t ever want to get out of that trend. And I’m doing commercials. I’m doing residential deals with students that bring them to me. We have mastermind groups, and I am doing commercial deals with students who bring them to me. As well that he used to bring them to me because they want me to put up the money.
But that’s okay. They’re just bird dogs bringing in deals, I’m happy to put up the money. And of course, when I do put it up, it’s going to be short-term or close. But there’s a lot of money in deals or I’m not going to do them with them. We’re working on that I have a full-time guy doing nothing. But screening commercial deals that those students bring to me. So I’m doing a lot without doing a lot of that makes back a wise guy once told me that the less I do. The more I make. I love that. Even have a book by that title on Amazon. The less I do, the more I make. So I’ve learned to practice what I preach and get out of my own way and let other people do what they do.
I love that Ron and you mentioned a link earlier that everyone could reach your team. I definitely want you to let us know where to find you and your awesomeness. Like any links your books anywhere we can find you,
ronlegrand.com forward slash P D, we’ll go take you to an application to have a chat with one of our people. Again, we don’t sell anything on it unless you bring it up. It’s a conference call. Secondly, you can go to Ron legrand.com forward slash terms. If you want to go watch a little over an hour training session on what we do in the terms world and exactly how we do it. It’s ronlegrand.com forward slash terms. All right. Free of course.
Thank you so much, Ron, you are such a rockstar and a legend. And just like I learned so much from you today. So thank you so much for bringing your wisdom, your knowledge, your humor, everything. You are a total Rockstar, my friend, and I’m just so honored. Thank you. Thanks for being here. So that’s it for today’s episode of underdog. catch us next week, always dropping on Thursdays. And remember, if you’re interested in real estate, or want to learn how to create more money and magic in your life. Check out meetwithpamela.com and let’s chat. Sending you so so much love.