Welcome to The Gold Collar Investor Podcast with your host Pancham Gupta. This podcast is dedicated to helping the high paid professionals to break out of the Wall Street investments and create multiple income streams. Here’s your host Pancham Gupta.

Hi, this is Joe Fairless if you want to diversify out of Wall Street investments and listen to the gold collar investor podcast.

Pancham Gupta  Welcome to the gold collar investor podcast. This is your host Pancham really appreciate you for tuning in today. My guest is Dustin Heiner. He is a real estate investing expert and a founder of master passive income.com. Being successfully unemployed at the age of 37 years old by investing in real estate rental properties. He is now on a mission to help everyone to quit their job and never have a job again. He also helps his students build successful real estate investing businesses all over the country. Through his work at master passive income dusting he now has become one of the leading real estate rental property experts. Dustin started master passive income from his home in 2015, while being a full time employee, married with four children and owning and operating two other businesses and being a full time investor. He is very passionate about his mission to help others become successfully unemployed and never need a job again. In 2015, Dustin wrote his first book How to Quit your job with rental properties, which quickly became a best seller. From there he began his new business helping others to invest in rental properties to quit their job. Since then, Dustin has helped countless number of fathers to start investing in real estate rental properties. Even if his students live in a very expensive cities. He shows them how they can invest all over the country. Dustin, welcome to the show, man.

Dustin Heiner  Hey, thanks, man. It’s so cool seeing you get I mean, it’s been since what 2019 When we last saw each other. So it’s really, really great to be on your show.

Pancham Gupta  Yeah. And you know, it’s a funny story. For anyone listening. I actually was at a podcasting conference, believe it or not in Orlando in 2019. Right before I was starting the show, I thought you know what, I go to a conference and see if there is something I’m missing something I can do better for the show. And they I met Dustin he was at the Freedom Fest booth and you know, he was already free. Financially Free. We’ll get into his story. So glad to have you on here. Dustin, I love your T shirt. Successfully unemployed, I think oh yeah, I need to get on those. Cool. So before we get started Dustin, are you ready to fire up my Lesnar break out of Wall Street investments?

Dustin Heiner I sure and I hate I hate investing in stocks, I lose money i i buy high and sell low. So I don’t do that. But I invest in real estate. That’s how I make my money.

Pancham Gupta  Awesome, man. Awesome. So Destin, you know, let’s dive right in. Tell our listener about your background, and more importantly, the person behind that background.

Dustin Heiner  Yeah, so I have always been entrepreneurial in my life. So I’ve always wanted to start businesses and but I’ll quickly jump to the end and then go right back to the beginning. So when I was 37 years old, I was blessed to be able to quit my job because I had so many rental properties. That made me a minimum of $250 a month, that passive income didn’t work and didn’t need to work another job. So I quit my job at 37 years old, I’ll never need another job again. Now, I’ll go back to the beginning. So like I said, I’ve always been entrepreneurial in my life. I you know, growing up at 13 years old, had a newspaper route. That’s where you ride around your bike and throw newspapers at five in the morning, banging them on garage doors, waking people up. I’ve also had a graphic and website design company, skateboard manufacturing business, even a pizzeria and a convenience store, I get started all these companies. They weren’t. I mean, they made money, but they weren’t something I can literally quit my job. But at the same time, I’ve always been taught and we’re always been taught that. You basically go to school, get good grades, then you go to college, and then you get good grades. And it’s given 1000s and 1000s of dollars into debt. And you get a piece of paper that that degree, you take that degree to a potential employer, and then you get a job. And then you work there for 40 years and then retire at 65, seven years old on all the money that you tried to save. And I was going that same route as Wes says, well as you know, building businesses, I have one or two rental properties at a time and was working a regular nine to five job it’s an IT job, a technology job doing at the local county in California. And I’m just doing a regular nine to five job and all the while starting businesses buying one or two rental properties knowing I want to be an investor. But life gets in the way. My wife started having one two or three kids and tell you this quick.

Pancham Gupta  What year was this just for reference?

Dustin Heiner  Yeah, this was 2002 I think 2002 Yeah, no, no, no, no, I totally off 2012 I said, 2002 I gotta add 10 more years. I was only I’m still in high school or college. What? 2012 guys, so my wife start we started having kid after kid. And by the time we had our fourth child, I’m still working a regular nine to five job. She had her fourth child and I went on paternity leave. paternity leave is where the dad stays home with a mom and you know, changes poopy diapers and bonds with the baby and all that good stuff. So I go on paternity leave for about a week or two. And then I get back to work. And that weekend, I get back to work. On a Friday, I get a call from my boss’s boss’s Secretary could top dog get a call from her. She says Dustin, would you please come to the office? And I said, Sure. And then I hung up the phone. And I paused for a second, I thought, Why in the world would they be calling me to the office like this isn’t normal. And I sit there for a second. And I remember back about two months before I went on particularly there was some rumors or some rumblings going on in the office that there could potentially be layoffs. I said no way. There’s no way I could get laid off. There’s, I have plenty of seniority. bosses think I do a great job. There’s no way I’m getting laid off. So I get up. And I shake off those thoughts. And I start walking down the hallway to my boss’s office. Now this hallway isn’t very long, it’s actually kind of short. But every step they take it feels like the hallway gets longer. And longer and longer. It feels like my feet become lead bricks, because the weight of everything comes on to my shoulders as if I’m man, I might get laid off. Well, I get through the hallway, and I turned the corner, and I see my boss’s door, his doors closed. And I see a secretary right there. And she looks at me it says and sheepishly she grins at me and says, Dustin, would you please have a seat? And she’s trying to console me with her eyes and try to encourage me because she knows everything about what’s going on. I know nothing about what’s going on. So I take my seat and I sit in that chair, and I start to think, Oh, my goodness, this could be the time that I get laid off. And I start thinking about my life all this time going to school, getting a college getting a quote, unquote, career. I’m realizing if like was all this a waste, I waste my life doing this. If I get laid off now what’s going to happen? And then oh my goodness, if I lose my job, how am I gonna provide for my family? Does that make me a failure as a father? Does it make me a failure as a husband, as a man trying to provide for his family? While I’m sitting there, my hands get clammy, my forehead gets all sweaty because I’m so anxious and nervous about everything. The weight is just crashing down on me. And then the door to my boss’s office opens up and out walks a lady, a co worker of mine with a piece of paper in her hands. She is noticeably distraught, noticeably upset, not necessarily crying. But you could tell her world has absolutely been rocked, she passes by me and my boss says Justin, would you please come the office, I go into his office, and I get laid off. And remember, this is a government, nobody gets fired or laid off of the government. But I did. So if it happened to me, it can happen to anybody. Well, I take that layoff notice. And I walked back down that short hallway to my desk, and I sit there and I realized two things right then in there, the first thing I realize is that I need to get another job, I need to be able to provide for my family. So I was really, really blessed praise the Lord to be able to find another job in the same county, a different department, the sheriff’s department, great job, everything worked out well. So that was done. Praise the Lord for that. Now, the second thing that I realized sitting in that chair was a I need to make sure that I never, ever let this happen to me. Again, I need to make sure that nobody has the ability to take away my ability to feed my family. So right then and there, I made the decision. Whenever anybody would ask me the question, Dustin, what do you do? I would normally tell them and reply, oh, I do it work. I work for the county, I’m basically telling them my value is in my job, what my value doesn’t come from my job. My value comes from my god for myself and for my family. And from that point forward. I started telling literally every single person, I am an investor, I knew that I wanted to be investor but life got in the way. And this was the wake up call to say no, that cannot be taken away. And so even though 100% of my money came from my job, that’s now my part time job. I am a full time investor. So fast forward the story. I started buying property after property after property. He’s probably making me a $250 a month in passive income. And after 30 Plus properties, I realized, oh my goodness, even though I’m making $75,000 a year here at this job, I’m still losing money. I need to quit so wrapped up the story by saying sharing. I went to my new boss, great boss and everything I jokingly said, I’m laying you off boss, but gave him a two week notice and for me to get no to quit and he said Dustin, what are you going to do? I said, Well, I literally don’t have to do anything. I have real estate. That makes me money without working. So the last part of the story is I walked home I park about a mile and a half from my job. I’ve taken this walk 1000 times. And if you remember that walk down that short hallway where my feet became lead bricks, this walk this last walk even though I’ve done 1000 times. I felt like I was walking on clouds because I knew I would never need a job again and looking back I said so long, I’m now an investor, full time investor. And so I’ll pause the story and share and let you ask questions, because you probably got lots of questions.

Pancham Gupta  Yeah, no, thank you for sharing that story. And really, you know, the wake up call that you had for walking down that hallway with that pink slip, right? So what year was at when you actually laid your boss off?

Dustin Heiner  It was 2000 at the end of 2016, almost into 2017.

Pancham Gupta  Got it? Got it. So it’s been well over four years, five years right now for you, and you’ve laid off your boss, and you are a full time investor. I’ll ask you this question. And then I have a lot of other questions that knowing what you know, today, and with five years worth of being full time investor, is there anything that you would have done differently than what you actually already did?

Dustin Heiner  Yeah, so the big thing that I would do differently, is, well, I’ll start with, when I first started buying my rental properties, I started buying property, I bought my first property, but I did it the wrong way. And so what I would change is how I did and I’ll give you the wrong way really quickly, hopefully, you’ll forget it. But I’ll also give you the right way, what I would change and how we would do it. So the wrong way was I went to I think it was like 2010 2012, something like that. I went to there was a late night infomercial say, Hey, we’re coming to your town, free come and get seminar would teach you real estate. So I went to that. And then at the end, they said, Okay, now run to the back and go get us 1000s of dollars. And I did that as well. And don’t do this, by the way. But they said, This is what they teach, they basically teach and this is the wrong way to invest. In my opinion, I found out that they say, Okay, you find an area of the country to invest anywhere in the country, then you run the numbers, you know, find a property, then you run the numbers on a property, make sure you can make a lot of money in passive income, but you’ll get appreciation which I don’t invest for appreciation, I invest for cash flow. Now from there, they’ll say now you spent 1000s of dollars to buy the property, then even more 1000s of dollars to fix up the property, then you find a tenant, then you find a property manager. And in my opinion, that’s literally backwards. I did that my first property and my property manager started stealing from me in six months. It was horrible. But if you remember, what I realized was I was always been entrepreneurial. I approached this the way other people were telling me to do it, it was the wrong way. But I said you know what, let me approach this as a business aspect, like a business mind, my normal business plan. And so what I realized this is what I advise and figured out and this is the right way to do it. So the wrong way was that way I just share with you the right way is you build the business first. Now let me give you a quick example of what building the business first looks like. If you’re going to start a convenience store, you know, everybody knows a convenience store candy bars and soda machines and stuff like that, well, you’re not going to sign a lease on a location, open the doors and set a box of candy bars on the ground. If you did that you’d go out of business in two seconds. No, what you would do though, is you build the business first you get the gondolas, a little shelving unit, so a candy bars and things gone. countertops, cold storage, found machines, bank accounts, cash registers, insurance, employees, you’ll get all these things before you buy any inventory. See now what a lot of people will tell you the people that tell you how to do it wrong. They’ll say that your property is your business. No, no, our business owns inventory. Every piece of property that you buy is another piece of inventory that you put into your business. That’s how I once I figured out that was a problem, do it the wrong way. Once I figured out the right way. That’s how I was able to scale my business so fast. In what three, four years, I was able to quit my job because I kept buying property. But I did not need to build the business and then wait for one property, then do it all over again, they do it all over again. I built the business first and then put properties into the business and just kept buying more and more properties finished just by saying how I build the business big broad overview. I start with an area of the country, let’s not go anywhere. I mean, I live in I lived in California at the time when I was started investing. I’m in Arizona now. But I invest in Ohio, Texas, and Arizona. All my students we invest all over the country, Midwest is usually pretty good down into the Carolinas and then Florida really, really good for cash flowing properties. But what we do is we look for a location a city that has good inventory, the types of homes that we want to buy a three bedroom, two bath 1200 or 1400 square feet properties that everybody either wants to buy or rent, and then make sure that we’re making money in passive income from those properties. Then we find the property managers, the inspectors, the plumbers, the roofers, the contractors, the realtors, the wholesalers, we find all those people in the business before we buy any inventory before we even look at any inventory. A lot of problems that happen to a lot of my students is they say hey, Dustin, I found a great city to invest in. I’ve already got five Realtors looking for properties from me. I said, whoa, whoa, whoa, whoa, did you find a property manager yet? Unless I know I got realtors who look I’m like don’t do that you You’ve literally like you didn’t put the cart before the horse. You literally left the cart and you’d like this. It’s gone. What you want to do is you want to have the experts on the ground who are going to tell you if you’re doing a wrong decision buying the wrong property I’ll give you I’ll wrap it up by sharing a property manager is going to be your number one expert like Zillow is not an expert. Redfin, Trulia, like all those sites are not experts who are experts. They are the people literally, they’re on the ground, doing the work. And your property manager is your number one person. Now what’s going to happen is you’re saying, hey, property manager, I’m looking at buying this house, what they’re telling me about it, will you manage it? How much can I rent it for? What’s the vacancy factor all these good questions, and they’re gonna say, a good expert will say, Oh, I know that area. In fact, I drive by that place all the time. I have a house that’s around the corner. We were trying to get 1600 for Zillow said 1600. But we couldn’t get it. We can only get it for 1450. Well, that’s expert information. So all that to say, we build the business first, don’t do what everybody else tells you build the business first, and then buy the inventory and put that into your business.

Pancham Gupta  That’s a great way to kind of really think about even real estate inventory as your inventory and actually building the business. So alright, so going back to your story, right. And I want to kind of relate here and maybe get a little philosophy here. You had all this you built this business. We have bought properties in Texas, Florida, and not Texas, Arizona, and and Florida. Ohio, Ohio. Yeah, Ohio. Yeah. And you’re still doing that, right? You buying single family homes, and okay, so, you know, anyone who’s listening right now, right? Like you were in California, you live in Arizona, now, I have a bunch of listeners who have great, great w two jobs, right? Or even small businesses. And most of these people are very passionate in doing what they were doing. Right. And but there’s some other for some others. It’s just a mean, means to an end, right. Like it’s not. Yeah, they’re doing the job to pay the bills to feed the family. And maybe they’re feeling stuck in their life, right? They’re, they’re making good money, but they feel stuck, right? They’re not going anywhere, like you’re on the hamster wheel, so to speak. So anyone who’s feeling stuck right now, and I know you were in that situation, you were walking that hallway, and you had this lead brake heavy feet, right? And someone who’s feeling that today, right? And they feel like they’re stuck in this rat race? What advice would you have for them to get unstuck and you know, create a life of their dreams.

Dustin Heiner  Definitely learn from my his story that I got laid off, because I work for a California county government, nobody gets fired or laid off in the California government. But I did. And so your job is not secure. If you think that investing in real estate is risky, well, working a job where somebody can take that away from you, that is so risky. Now also, you need to realize that your value is so much more than anybody could ever pay you. And here’s how you know that your boss is paying you just enough to keep you working without quitting, but not so much money that’s taking extra money out of their pocket, they’re going to pay you and I use the word job as an acronym for J. OB, you’re living just over broke. And that’s how I was, and that’s how most of us are. But now, at the same time, if you realize that your value is so much more than anybody could ever pay you, you’re gonna realize, Oh, my goodness, what am I doing here? Now, it might take some time for that value to be built up just like that company that you’re working for took some time to get built up. But when you realize that, like I said, I was making $75,000 a year that was back in I don’t know 2012 2015 16 I realized that even though that’s a decent amount of money. Now there probably lots of people make more. But I realized that my freedom was so much more important than any amount of money if my freedom to not just be able to do what I want, travel the world by whatever I want. But that I have the freedom to take care of my family take care of myself, without somebody else. giving me the opportunity to work for that my trading an hour for money is not my I don’t do that anymore. And that’s why I created master passive income. When I was investing in real estate and battery, they quit my job. I had so many friends and family members asking me, well, Dustin, how are you going to quit your job? That’s the first question. The second question always comes right after the first question is, how are you going to quit your job? I said, because I have rental properties. I literally don’t need to work. The second question always comes, Well, can you show me so I started teaching friends and family matters. I had a lot of fun. I enjoy doing it. You know, hopefully it comes across. I’m a little excited about this because it’s not that real estate is terrific. Don’t get me wrong. It’s fantastic. I love it. But what it’s what affords me to do in my life. I literally don’t work. I wake up the morning, I go to the gym, hang out with my family, I look at a couple properties that I might want to buy bought by him if I want and then have my business take over from there. Now what that does is it helps me to literally realize that my life is not incumbent on a job where somebody can literally take that away. So what I would love to everybody to realize is, the lesson that I learned is that passive income is literally by far the only way to get rich. Now you might have a job, but you cannot keep that job forever, eventually, you’re going to get old and might replace you, and you cannot give your job to your kids. I will literally can and will literally give my real estate all the businesses that I have, like I mean, even just created a real estate investor conference, we have almost 200 People coming 27 speakers, that’s a whole brand new business, I’m literally building and I’m going to be able to give that to my kids. So the real estate, the passive income businesses, all these businesses, I’m able to give to my children. So I love the idea of passive income. I’ll finish out by saying the reason why I knew I could quit my job was because I it’s just, it’s math, it’s really simple. If I make $250 from one property every single month in passive income, that’s $3,000 a year. It’s like oh man, if I just scaled that up by by 10 properties that make me $250 a month, that’s $2,500 a month it without working $30,000 years in passive income 20 properties as $5,000 A month $60,000 a year working without working you just can’t scale it up and then you play Monopoly. Then you switch those out and you buy multifamily just like you patch them and so I now do syndications. Not personally I invest into syndications, I have plenty of money right now. I do passive investing, right? I just got into hotel hotels, it was extended stay hotels, and I’m going to be making like 12% return. And then hopefully we’re gonna cash out do 100% of my money back and double that. While that to say passive income is the only way in my opinion, to get wealthy and then to be able to pass that down to your children.

Pancham Gupta  Awesome. And that if you’re listening to this, and you don’t get fired up after listening to a destined story, you know, I don’t know what well, it’s really, it’s a wake up call, right? Like for me, and a lot of other people like you, I know. And for them, something happened for them. Maybe it was a passion, maybe it was they feel that one job one paycheck. If you look at your bank account, I remember reading Rich Dad Poor Dad, and Cashflow Quadrant. And you know, like you said, having one job where the only money coming in your bank account is from that one place one source. And if that source goes away, and that income goes away for you, that is the most risky thing to be in as opposed to having 30 homes 40 homes, like you said and have 250 coming from these 40 places. And in case our multifamily you have a 200 unit apartment building and one unit goes empty, you still have other 199 units paying you right? So it’s just something to think about and for anyone who’s listening. So that’s great, Dustin, so what do you do now? Like you said, you have obviously investing and you’ve scaled that up. And in the process, you’ve also created a coaching company which you help people get unstuck, so to speak, or what do you do?

Dustin Heiner  Yeah, so imagine having 40 plus hours of your week back into your life, to do whatever you want. But then at the same time to build businesses the last four years, since I quit my job, I’ve literally built business after business. Now I have four or five businesses making me money, because I have so much extra time on my hands. I mean, if you’re working 80 hours a week for somebody else, imagine how much time you could put into your own business. So what I do now, so I have my real estate coaching, where I literally coach people how to invest in real estate, I have my podcast where I literally teach that it’s just me coaching people how to do and teaching people how to do that master passive income. And also one thing that I love to do is continue to build my real estate investing business with buying properties, buying syndications and stuff like that. But here’s the most recent thing that I’m super excited about. I love helping people realize that they can invest so I could teach anybody how to invest. It’s getting them over that hurdle like mine was getting laid off and realized I got to do it. Getting over a hurdle realize that number one, they can do it. Number two, that they should do it and number three that they must do it because that’s everything else is risky. I developed a real estate investing conference. So like I said, this is another company I’ve created. It’s called The Real Estate Wealth builders conference, Rukh Khan for short, our web co n.com. So it’s a real estate investing conference, and this is how it came out. Pancham you’ll definitely appreciate this. So from my podcast, my YouTube channel, all the students that I coach, I had a lot of them asking me for any event, like a meetup for all of us to get to all the students for Master passive income. And I said, you know, that’s a great idea. But I’m not that egotistical to have a conference around myself. Let me call up my friends. So I started calling up other people who have their own investors who have their own podcasts, their own students, their own syndications, all that sort of stuff. And I’ve got now 27 speakers that are coming to this conference. It’s going to be in Phoenix, actually, it’s coming next month, March 11 and 12th It’s gonna be here in Phoenix where I live. And we have 27 speakers, almost 200 tickets sold. This is literally the first conference that I’m doing. And it’s, here’s the big thing about this conference. This is a no sales pitch conference. If you go to any other conference, like if you go if you anybody knows grant cardones conferences, every single session is a sales pitch and they say, Okay, now run to the back, and we’ll take the first 1000 people, we’re going to cut the price in half to only 50,000 from 100,000. You put it on your credit, credit cards, and give us money. That’s literally what it’s all about. What I wanted to do with build with Rukh Khan was to make it all about giving all about helping other people. I have syndicators, I have multifamily people coming to to share Airbnb, land investors, storage facilities, all this sort of types of investing, bringing us all together on one roof. So that’s what I’m doing now. I’m so passionate about it because I realized that as I get older, I found that the more people that I serve, the more people that I help the more people that I get, help them to get what they want, the better my life gets, the better their life skins. So this is like the most recent I guess direction in helping people is Rukh Khan or Real Estate Wealth builders conference.

Pancham Gupta  Awesome, man. Awesome. Love it. Love it. So, you know I might pick your brain on that one day. Absolutely. Good. So you know, let’s move on to the second part of the show, which I call taking a leap round but we’ll be back after this message. Do you ever feel overwhelmed by the thought that you have no time after work, and family time to learn about investing? Do you feel left behind that you are not putting your money to work for you? Do you want to create passive income but you do not know where to start? If so, I have good news for you. I have created an investor club which I call the gold collar investor club for accredited investors, I will be putting together investing opportunities exclusively for this group. These are the opportunities where I have done my part of the due diligence for you and will be investing my own money alongside you. If you are interested, please sign up on the gold collar investor.com forward slash club. I repeat the gold collar investor.com forward slash club, I will reach out to schedule a 30 minute phone conversation to discuss your investing goals. Once you sign up, this can be a good opportunity to diversify and take some chips off the hands of Wall Street to produce some cash flow. And in case you are wondering what is an accredited investor credited investor is someone who has earned more than 200,000 as filing single or more than 300,000 Filing Jointly for the last two years. Another way to qualify as an accredited investor is if your total net worth is more than $1 million. Excluding your personal home. It includes your stocks, 401, K’s I race cars, etc. Just not the equity in your personal home. If this is you, I would highly encourage you to sign up. So Dustin, let’s talk about these four questions that I talked with every guest on the show. My first question for you is when was the first time you invested outside of Wall Street?

Dustin Heiner  Oh, man, so I’ve lost a lot of money. If you heard me from the beginning. I buy high and sell low. That’s even if I tell myself Okay, I would normally sell now. So I’m gonna buy that’s still the wrong decision. Don’t listen to me when it comes to stocks. I’m horrible. But what I did was I realized that businesses and real estate those two things, I could control a stock I can’t control. So I think it was back in 2004 No, 2006 When I bought my first property 2006 When I bought my first property, and that was like a realization I got like $300 in passive income from my property manager. In one month. I said, oh my goodness, in one month, that’s $300 in stocks, I lost money. That’s a great way to make money.

Pancham Gupta  Awesome. Awesome. So did you have any fears that you had to overcome when you bought that property in 2006? Oh,

Dustin Heiner  my goodness, yes. 100%. So I was in California, in 2006. At the time, California literally had prices were going up, rents were still relatively low, it could make passive income. So I flew to Ohio, I don’t do this anymore. By the way, this is the wrong way, flew to Ohio, found a realtor and a property manager putting together and then you know, she started stealing my property and I started stealing from me. That’s what I did. Because back then I didn’t know what I was doing. Now, if I start when I started new area of the country to invest, I don’t even fly there. In fact, all the 30 Plus properties that I own, I’ve only seen one of them. And so only one of them before I bought it and now I just have inventory everywhere. It doesn’t matter if I don’t want to go to the cities and I don’t want to live there. Other people will.

Pancham Gupta  Yeah, exactly. Alright, cool. So my third question for you is can you share with us one investment that did not go as expected

Dustin Heiner  Oh, well, definitely all my stocks, as expected, but I would say, Oh, it was one property give you example of an expert would know after the fact I had to learn it the hard way. So as I coach students, I help them to navigate these pitfalls. One of them for me, was I bought a house in, I think it was like 2012 2013 ish, right? When I really started getting ramping up my business, there had been a lot of foreclosures and banks owned properties. And they were vacant for over a year and one specific city that I was a county that was investing in, they had a law regulation or whatever, if the property has been vacant for a year, or the electricity has been turned off for over a year, this is on the Midwest, and you know, almost these coasts, so they’re older homes. And so if it’s been off for over a year, it has to be re inspected and passed inspection. Well, these are older homes, some of them even I didn’t have not been to they had this old breaker style like not not like the panels that we have now. Old systems. And I realized, oh my goodness, in inspection, I had to rewire two entire houses, I was buying two of the same or two relatively at the same time, didn’t know that had to rewire the entire house for electricity because it needed to be recertified. So that was each house 3500 bucks. That was just like, Oh, my goodness, that was a big hit. So but it’s things like that, that experts like when I teach my students, I show them I will walk them through things that I’ve done things that I’ve learned from other people, because if you haven’t done it before, you might get hit with things like that.

Pancham Gupta  Right, right. No, I think these are some of the learning lessons. Right? These are some of the stepping stone to get to where you are today and helping other people. So my last question for you, Dustin, is what is one piece of advice would you give to people who are thinking of investing in Main Street that is outside of Wall Street?

Dustin Heiner  Oh, consider passive income. Now, I would say I do own a little bit of stock that are dividend stocks, like passive income, I parked my money there, and I make money back. I don’t invest for appreciation in stocks, or in real estate. appreciation is great when it comes but like my real estate, I’m literally going to give this to my kids. So I don’t care about the appreciation. But what I do though, with my rental properties is I’ll cash out a do a cash out refinance, to then pull that money out to buy another property. That’s what I do with equity. But what I would suggest is anything that you’re gonna be doing invest for passive income. That’s why I created master passive income calm and the podcast because my thought real estate is mastering passive income, I buy one property, and I one time I don’t do any more work, and it makes money for me the rest of my life and my kids lives.

Pancham Gupta  Awesome, man. Awesome. That’s and so you’ve added a ton of value today. Dustin, thanks so much. I know you’ve put together a real estate investing course which you also had mentioned during the podcast. How can someone who wants to get that course get that? And also, you know, can you tell us a little bit about the course like what will they find in the course when they get it?

Dustin Heiner  Yeah, so it’s destined at the gold color? investor.com And do you mind if I give them a texting code so they can even text because I found when I’m listening to podcasts if somebody gives me a texting way, is it okay if I share that? Yeah, sure. Go ahead. Okay, you can text the word rental, r e n t a l 233777. Rental, the 33777 or email Dustin@thegoldcollarinvestor.com and I’ll give you my real estate investing course absolutely for free. It’ll show you how to find an area of the country to invest, how to build a business first, how to scale the business, how to make sure you’re doing everything the right way, making $250 or more, it’s a downloadable PDF, you’ll be able to get it and literally get started right away. So I just want to help as many people as possible like my goal is to get 1000 people investing in real estate. And if I can achieve that, then I know my life will be better because I’ve helped so many other people.

Pancham Gupta  And that’s awesome. And thank you. So the email is Dustin@thegoldcollarinvestor.com Thank you Dustin for your time here today. Thanks man. I hope you learned something from Dustin story and how he got laid off and I was a wake up call for him to get his investing goals if you’re interested by emailing at Dustin@thegoldcollarinvestor.com. Thank you for listening. I really appreciate you if you have questions don’t hesitate to email them to me at p at the gold color investor.com That’s P as in Pau@thegoldcollarinvestor.com. This has been Jim signing off. Until next time, take care.

Thank you for listening to The Gold Collar Investor Podcast. If you love what you’ve heard and you want more of Pancham Gupta, visit us at www.thegoldcollarinvestor.com And follow us on Facebook at The Gold Collar Investor. The information on this podcast are opinions as always, please consult your own financial team before investing