Common Questions and Misconceptions

Podcast Transcription

Dave: Here we go, we're back in the studio. Yo, yo, yo.

Tim: Knowledge-based nirvana.

Melina: Real estate information nirvana. What does nirvana mean anyway?

Tim: It's a band from the '90s.

Melina: Welcome to Flippin' Off, a purpose-driven podcast about flipping houses and making a difference.

Dave: All right. Well, Dave Boswell here, co-founder of New Wealth Advisors Club, along with my beautiful wife, Ms. Melina Boswell.

Melina: Hello.

Dave: You look so happy. Our grandkids must be in town or something.

Melina: Yeah, it's the best.

Dave: Well, with that, we've got... We were here a couple of weeks ago, we had Tim and Oscar in the studio and Tim and Oscar have joined us again today. We're gonna do something totally different. We have been doing this now for a long time, and I don't wanna say I get frustrated, but... Well, I get frustrated.

I get frustrated with some of the common questions and really, I think a better word might be misconceptions of, like, who we are and what's this whole club thing, and how do you guys, you know, "Why do you do what you do?" and, "Why is it this way and not this way?" and, "It doesn't make sense." And so Melina and I get a lot of emails, people, you know, call us, they call up the office and, you know, they want to, you know, they want to ask us these common questions and really, they're all, a lot of them are based on misconceptions, right, for whatever reason. The telephone game, "Well, I thought it meant this," and, "No, I meant this." And so Melina and I wanted to be able to tell people about...I don't know, maybe make this where it can stand alone and if when people send us an email, I'm really gonna send a link to this podcast.

Melina: Exactly, yeah. That's great.

Dave: Does that work for you?

Melina: Heck yes. It seems like a fantastic use of time and resources.

Dave: This is called efficiency.

Melina: That's right.

Dave: All right, so let's do this and let's make this short, concise and answer some of these few questions that I wrote down. So I'm gonna just throw them out there. As you guys want to chime in, let us know. But one of the things we get asked about quite a bit is like, you know, or I get...I actually got, "This sounds too good to be true. Is this some sort of scam? Is this, you know... Like, what do you mean you guys have a club?" and, "What does all that mean?" If I said that to you, honey, what would your response be?

Melina: You found out.

Dave: He got us.

Melina: Oh, my pants are down. No, so...

Dave: Again? Yeah. We have fun, too.

Melina: Definitely, we have fun. Well, you have to be able to laugh because sometimes the things that people say and/or read and/or hear about us is just such nonsense that you have to able to laugh at it, you know, because otherwise, it's really, really frustrating. And there's times, for sure, when I would feel so offended by those kinds of questions. And so one of the things I say when people ask me, you know... Well, obviously, I mean, the idea that we're a scam is absurd because we're, like, paying for our podcast, so I don't know, but we have an office, we've been in business.

Dave: We have a huge office.

Melina: We have a huge office. We've been in business for 10 years plus, we've been in Riverside our whole lives. Well, I've been in Riverside my whole life, and so I'm clearly, you know, I just don't even know. I guess at this point in our journey, I think answering that question is just silly. So we couldn't possibly be more transparent. Like, you know, if you want to... I can't really even answer that. I feel like, just come to the club and see, walk around, spend a little bit of time with us and then you'll know that we're not a scam.

Dave: Right.

Melina: So...

Tim: So I'm going back in time, and I remember when I first got a look at it, at the opportunity and what you guys were doing. I actually walked away because of that same thought, that, "Too good to be true, no way this is really happening," and I bailed. Didn't bother having a conversation with anyone or any of that. Some 18 months later, maybe they're real. They're still around.

Dave: Still around.

Melina: Still saying and doing the same things.

Tim: Yeah, and they've been true to their word. Maybe I should get a second look at this and really look at it this time. So two things, right? One is, "Man, I missed out for 18 months." Or, "Man, I'm glad I found them 18 months because after that, I saw so much crap out there that this is absolutely where I needed to be."

Dave: Right.

Melina: That's good.

Tim: So I rest on that more so than I lost 18 months.

Dave: That's great. You know, the... One of the challenges that we have is that...

Melina: We deal with people.

Dave: That's true. One of... A big challenge we have is that, you know, we don't spend, you know, tens of thousands of dollars every month marketing and throwing, you know, all sorts of things all over the place where we're gonna drive people into hotel rooms and try to sell them some sort of education in one shot in the arm, if you will. Like here's an education and you gotta come to the education and you need education, you need education. Well, we have this belief that there's only so much education you can consume, right? You can sit in a seminar all day long, but if you go home and do nothing, what good was the class?

Melina: That's right.

Dave: I mean, sit at home and be on Google.

Melina: Right.

Dave: Anything you wanna know on real estate is on Google.

Melina: Absolutely.

Dave: You just gotta decipher the information. What's real, what's not, and what resources you need and then go find those resources.

Melina: Right.

Dave: Realistically, that's all true.

Melina: Right.

Dave: So over time, we've developed this, and if you go back a couple of weeks ago, you can actually show...well, listen to the podcast we did with Tim and Oscar where we talked about the exact model that we wanted to create, which was, can we take a newbie, right? Can we harness... And when I say a newbie, somebody with little to no experience or somebody who once did this once upon a time and, you know, has a drive and desire. Can we take that newbie, harness their enthusiasm, their attitude, their motivation, can we harness that, point them in the right direction, have them find a lead? And then when they find that lead, chances are really, really, really good, probably like 100% of the time, they have questions and/or they need resources to be able to turn that lead into a deal. Is that a true statement?

Tim: True.

Oscar: Absolutely.

Dave: So if we did that, could we find those people? They grab a lead and then they bring it back to, going back to Jeff and Flora last week, or two weeks ago now, you guys talking to them, they're the exact person, the exact, you know, cookie cutter we are looking for. They go and do it, "We need help," they put the resources together, they go out and close, you know, a six-figure deal and everybody gets paid. Win, win, win, win, win, right?

Melina: Right. And probably the more powerful, like, exponential power in that is that both Jeff and Flora have a desire to become the mentor, and that is what's brilliant about what we do, in my opinion, is that, you know, we did, we discussed that exact deal. So, you know, we mentored Tim, right, and Oscar, and now Oscar and Tim have taken the training and the mentoring we've given them, they've turned around and gave it to Jeff and Flora. They all made money. You and I aren't in that deal at all, right, and now Jeff and Flora, being the recipients of that, have such a strong desire to be able to become the mentor and they have the opportunity to do that.

Dave: Well, this just sounds just too good to be true, Melina.

Melina: You know...

Dave: At the end of the day, what does the... I mean, what's in it for you? What's in it for you? What's in it for the club? I mean, these guys went out and closed a deal. What's in it for you? You stand up and teach hours and hours and hours every month, club meetings, sitting in on the podcast. You give so much time, what's in it for you?

Melina: Well, I want to... What's in it for me is living a life that' outside of myself, frankly. I want to have a significant impact on people. I think that's what I was created to do, and so that's how I live my life. Now it's not simple, it's really not. It's not easy, it is difficult and I frankly battle with, you know, what my core purpose is in life, actually living out my core purpose. It's one of the things I train in the club is helping people identify what their core purpose in life is. I know this, I know it's not to make money. I know that nobody was created for the sole purpose to just generate dollar bills. So I believe that your core purpose is tied to other people, I think it has very little to do with you. I think that you're given gifts and talents, and you should take those gifts and talents and pour them into other people. And then, you know, in a perfect world, or the way I believe the world was, is created to be, that just comes back to you. It comes back to you in so many different ways and not necessarily monetarily, and it's just not about that.

And the more times I talk to people and I ask this question, especially homeowners who scratch their head a lot and don't understand how it is that we can serve homeowners and not get paid, and this is what I always say, "Well, let me ask you something. If you had a career or a profession that afforded you the opportunity to make a decent living, and you could serve people by helping them out in very distressed situations and you didn't get paid for it, wouldn't you want to help somebody else out?" And 99% of the time, they say, "Well, yes, of course." And I say, "So, why is it so shocking that's what we do?" It shouldn't be that surprising, really. We just get to.

Dave: That's so powerful. Wow. Well, you know, I guess that kinda ties in because one of the, you know, questions I... You guys have all this experience and all this knowledge, I mean, it seems like you take a lot of, you take a lot more... We call them the haters in our life, right, the people that don't necessarily celebrate our successes, people that, you know, especially in this day and age. The internet, you can just write anything you want, you can say anything you want about anybody, and sometimes people look at that and they'll see one review or one comment and that just becomes what, "That must be it," right, "That must be the truth." And if it's on the internet, right, what's the... "If it's on the internet, it must be true."

Melina: It must be true, bonjour.

Tim: I'm a French model.

Melina: Exactly.

Tim: This is gonna be on the internet, right?

Melina: Right. Bonjour.

Dave: So, therefore, it's true. Tim's gonna share this as... Anyways, with that... You know, so I think that that's part of the... One of the challenges that we get all the time, it's just in that, "You guys have all this and you do all this, why do you do that?" And you just answered it.

Melina: Absolutely.

Dave: You know, you just answered it because it is true. We could shut down the office...

Melina: Of course.

Dave: ...close the club, and you and I could go home and continue doing what we're doing if our life was just about, "Let's just make money doing real estate."

Melina: Absolutely.

Dave: And to be honest, we'd have a lot less headaches.

Melina: Oh, are you kidding? Yeah, a lot less.

Dave: A lot less headaches, a lot less stress.

Melina: Yes, that's the truth.

Dave: You know, maybe even more time. There's a lot of things that... But it is about living a life that's more significant than just you and I.

Melina: Mm-hmm.

Dave: You know? And we've actually had that conversation where that doesn't drive us. Like, we don't get out of bed because we need to make money for ourselves.

Melina: No.

Dave: Right? It just doesn't...

Melina: Well, it's like the elusive belief, you know, people think, "Oh, if I could just..." You know, they see people on TV or, my favorite, the Facebook fantasy. Like Facebook fantasy land, whatever that is, people, like, act like they...

Dave: Instant success.

Melina: Yeah, right? So they put all their fake stuff on, you know, social media, and people have some belief that when you have money, then now you have love, now you have happiness, now you have beautiful things and none of that is the truth. None of that is the truth at all. So it really is about the impact you can have on other people. When you get the opportunity to help out a homeowner who literally, you know, had no hope and wrote, in writing, "I had given up. I had quit. I had given up on life because she just had...she kept on hitting roadblocks and she was being taken advantage of by, you know, scammers," and, you know, whatever. And then you get the opportunity to step into her world and just serve her by helping her get through the process, that kind of work is priceless. It really is, it's priceless and that gives you such drive, I think. Were you gonna add something, Tim?

Tim: Well, I was because like last night, seriously last night, I was sitting with a homeowner that she came in, she started crying because of...she's getting ready to lose her home, and she started crying because she doesn't understand the process. She feels like she's on her own, she's afraid to be taken advantage of. There's so many people that are knocking on her door, and she's getting letters from everybody, and she's crying to me in my office about, "My property is supposed to go to sale on the 21st, and, like, I asked for that day off of work so that I could move out of the house."

Melina: My gosh.

Tim: And she's like so scared of that, and I... Just the look on her face when I... All I did was educate her that that's not..."You're not getting kicked out of your house on the 21st."

Melina: Right.

Tim: "There's a process, you have some time, we can help you do that," and the look of relief on her face was...

Melina: Priceless.

Tim: ...the best part of my day. Without a question.

Melina: Absolutely. Right. And she didn't pay you for that?

Tim: And she didn't pay me for that. And we may or may not buy her house.

Melina: Right. That's right.

Dave: Yeah, it's awesome. Well, so we get a lot of, you know, this kind of stuff, too. So, you know, I really don't need to join the club because, you know, I've already been to seminars. I bought this person, and I bought this webinar, and I've been on online education, and I've read every blog out there, and so I know everything about everything. And so I just don't need to join the club because, you know, I don't need any more education.

Melina: My answer to that is because you've done all that is the exact reason you need the club. Because now it's time to get to work.

Dave: So... Were you gonna add something to that?

Oscar: Yeah. You know, I, like you guys, right, I've been through a lot of real estate education, and then I still look at what's out there and see what's going on, and part of me wants to laugh at what's out there because I know what we have, and the other part of me is like, "Man, it's terrible what's out there because so many people are buying into things that it's not a one and done thing that we do, right? It's continuous education, continuous learning and development. To be good at anything you do in life, you have to continually develop the skill set to master your craft.

Melina: That's exactly right.

Oscar: That's what we do, day in and day out, with everyone that we work with.

Dave: Right.

Oscar: And, I mean, to me, that's priceless.

Dave: Sometimes, I've heard people come in and go, "You know, I went to this three-day education and, you know, I got all excited and then I was, like, I don't know what to do next." Then I go, "Exactly." That's what Melina and I did, too, and it's why we developed the club because I don't know about you, but I can't sit there for three days taking every single thing that I learned and somehow think that I'm gonna go out and do it all on my own the next day. On Monday, I've forgotten 99% of the stuff, right? So... And I think most people are like that. We don't learn that way. So we developed this club model because... So we have, you know, we have three days, you come in and spend three days with us. Part of that three days is getting to know one another. You know, we don't pack hundreds of people into our club and train like when we went to hotel rooms and there's hundreds of people there for the weekend and they're basically sorting through us to find out who's gonna buy more classes.

Melina: Right. Exactly.

Dave: I mean, that's really the whole weekend was for us in most of these things, and we don't do things that way. Hey, a part of it is we need you to understand how to find leads, analyze those leads and then put your hand in the air and say, "Can somebody help me, please?" Right? Now that doesn't obligate anybody to work with anybody, right? One of the things I say all the time is, "Well, if you're a jerk, nobody's gonna work with you."

Melina: Right.

Dave: Right? So, as a matter of fact, if you're a jerk and listen to this, please don't come. Make our life simple, you know. But at the same time, if we can do that... And then we developed relationships with people. We didn't know Oscar several years ago, we didn't know Tim several years ago, you know, and we developed those relationships with people, they find those leads. Heck, I want to close more deals, you want to close more deals, honey?

Melina: Of course.

Dave: Of course. So they wanna be able to close their first deal or their 10th deal or 20th deal, or whatever it may be, and if we can create a joint venture and we can go close those deals... And that joint venture has nothing to do with the club. The club never gets involved in any real estate deals, it's not gonna partner with anybody, it's just a way to bring like-minded people together, they can meet one another and go out and create their own businesses. I mean, you guys have an agreement amongst yourselves, right?

Tim: Right.

Oscar: Right.

Dave: Do you have a company in common?

Oscar: No, not at all. We have our own entities, but we do business together as partners.

Dave: So everybody hear that? Like, that's brilliant. And then they have other people who have their own entities and they create joint ventures with...amongst entities and go out and close those deals. So that's a really big deal. And then when I hear things like, "I spent several thousand dollars for this three-day, and this, this, and this." Well, you know, we... Ours is $1,800 currently, right, $1,800 gets you a year of membership in our club. We've talked about this, it's...

Melina: Too cheap.

Dave: It really is for what we do when you consider that, you know, for $1,800, we meet every single month, right? So we have a club meeting every month, a minimum of one, sometimes two, right? We do fun stuff, we get together and go to ballgames and have picnics and...

Melina: Tailgate.

Dave: We're gonna tailgate, you know. We had a casino night for charity, right? And we do training on top of it. We now livestream that training, you know, so people that are all over the place, "Hey, I can't get to Riverside to come to the training tonight, but that's okay. I can log in online and I can..."

Melina: Watch.

Dave: " it." Or, "Hey, I can't even get there during that time. You know what? I'll watch it tomorrow when I have time," or, "I was there and I missed some of it. Let me go back and rewind it. Listen to it again." Right? When you look at all of those things that we do for 1,800 bucks, it is stupid cheap.

Melina: Yeah. And I think on top of that, we have what we call Mastering the Mindset meetings, which is personal development created inside of the club, and not focused on real estate investing but focused on business ownership and, you know, what's happening inside of your own head. And what I think is the most important part, I think if you can get your head clear, I think the real estate between your two ears is, you know, the most important real estate you can ever focus on.

Dave: Yeah. And we do those all over. Those are in Orange County, San Diego, Riverside, right, LA.

Melina: LA, Mm-hmm.

Dave: So every couple of weeks, those are not even the monthly meetings we're talking about. And on top of it, man, when we went to seminars, we had to pay in full for that thing, like right there on the spot.

Melina: Right.

Dave: We let people, you know, pay half and then pay a monthly, what we call, club dues. Oh, and by the way, every club meeting, like, we feed you and we have an office, like a real office location to go to. You know, we're not in a hotel room, which would've been, by the way, that would've been so much cheaper for us, honey. I mean, we have spent...

Melina: Oh, I'm aware.

Dave: You know, we've spent well over seven figures in not only developing the office and rent. I mean, 10,000 square feet is not cheap with, you know, 17 offices there. So when everybody says to me, "Oh, my gosh. I don't want to pay for education and seminars because I've already done that." I wanna look at them and go, "Melina and I, because we did all that, we developed a club because there's a need for... Beyond the education, it comes down to having those resources, meeting those people because... We were in hotel rooms, we were just sitting with another newbie, another inexperienced person right beside us where we'd want to collaborate with one another and we realized that, you know, "My experience of zero and your experience of zero and I'm broke and you're broke, we put all that together and we're just four broke, inexperienced people now, right?

Melina: Right.

Dave: So I think anyone listening to this needs to, you know... If you're considering checking out, you know, our club, and so forth, it's very, very different and it's hard for us to articulate that without you coming down and really checking out what's going on. I want to flip that, though, real quick because Tim, Oscar, this would be directed toward you. So why do Melina and I allow you guys to invite people down to the club, right, and we do an introduction and show them about what we're talking about right now, why do we allow you guys to do that? Like, what's in it for you guys? Why do we allow that to take place and why do you do that?

Oscar: I like to think that Tim and I have become really good copycats.

Dave: Okay.

Oscar: Right? We've seen what you guys put together and how you've built teams, and that's the opportunity that you afford us is to build those teams to have more opportunity, and to have more real estate transactions closed. And the one thing that became really clear for me, personally, is that the relationships that are built through that process, you can't buy that stuff, right? We have some really solid friendships. People that I know today would never have been in my life years ago, but we do some pretty cool stuff. We have a good time, we make some great money, but to see them succeed, that, for me, is awesome.

Dave: Yeah, very cool. Well, would you add anything to that, Tim?

Tim: I don't really have anything to add. I would just piggyback off of everything that he just said. I mean, when you asked me why do you allow me, honestly my answer comes back to I don't why you let me do it. But I think it's friggin' awesome. Like, I thank you guys so much for the benefit that...for the blessing that you guys have given me to be able to take the lessons that you've taught me and enabled me to just go and do exactly what you did inside of... "And not go out there on your own and do what I did. Here, do it under my roof. Do it under the umbrella of what we've already put together." And with that being said, allowing, you know, somebody who comes to a meeting tomorrow, maybe, maybe they come and they find us tomorrow and they come to an initial three-day training this month. You know, it wasn't... It's only been seven years for me to be in this position and I went through that exact same process and I just think it's awesome that people can plug into that this week, this month and in a few years, maybe they're sitting where I'm at, you know, and it's just the opportunity that I found here was just amazing. So...

Dave: That's awesome. Yeah, that's fantastic. Well, a common theme I get, right, because there's clearly people that... Because part of the challenge, right, is in today's day and age, we're very distracted, right? We all agree, like...

Melina: Absolutely.

Dave: Huge distraction. So we come in, they come in, they listen to... Maybe somebody invited them down to the club, they come in, they listen to an introduction, you know, we put on a free introduction...generally, once a week, once every other week, whatever the schedule permits. They come in, they listen to...typically, I do the large majority of the introductions that are there, right, and they're in, they're out. Like, every couple minutes, I can watch them. They're paying attention, they're not paying attention. They're paying attention, they're not paying attention.

Melina: Totally.

Dave: So they hear things are they hearing them, in those little pieces, and then they always try to fit us in some other box. "I went to this seminar and that's what this meant, and then I went to this, and that's what this meant." So let me just throw a couple of things out there. We don't have any 1-800 numbers, okay? Everything that we do here is all relationship-driven, okay? So nobody is obligated to work with anybody. You're gonna have to come in, develop relationships with people that this is what they actually do. How cool is it that they share with you their business and what they do, and then you need to look at it and say, "Well, how do I bring value to their business? How can I plug into what they're already doing so I can bring value because, heck, I want to break into this business and I want be able to close a real estate deal, too," right?

I meet so many people that are frustrated because, "Gosh, I've been to so many seminars. I still haven't done anything and maybe my spouse isn't supporting me anymore because, you know, I have this pipe dream," and that kind of stuff. Here's what I can tell you, you know, I know exactly how you feel. I felt the exact same way, and here's what I found, the model was broken and we found a way to fix it, right? So while we have Partner Curriculum, we call it Partner Curriculum. It's year-round classes that are taught by tons of different instructors and attorneys and different people that are experts in their craft. That Partner Curriculum is not a requirement inside of our club.

Melina: Right.

Dave: So when I mention $1,800 to join the club, the classes that we have that we call our Partner Curriculum, there's no obligation. We're not required to teach you those classes and you're not required to take those classes. There's additional cost for those classes, but those are discussed on a one-on-one basis. In other words, we don't allow just everybody, you know, to run to the back of the room and say, "Oh, I just want to take a class, I want to take a class." We're not looking for those people, right?

Melina: That's right.

Dave: And my wife and I have a belief that we need to sit down. You're gonna... If you join this club, here's what I can tell you. You're gonna be sitting down, having conversations with us and going... It is, "You're here for a year. What's your goal is inside that year, and how do we help you get to those goals?" And everybody's going to be different. So I can guarantee you this, that we're gonna look at each of you as an individual.

Melina: That's right.

Dave: There will be times when we'll say, "Sure, you want to be able take some classes? That's fine, that fits in your schedule, that fits in your budget. That makes sense for us. There will be other times when we say, "Our recommendation is you stay as, what we call, an originator inside the club, and you're coming to every club meeting and you're out focusing on finding leads, and that is the best that you can do right now and be grateful for that."

Melina: Celebrate.

Dave: Exactly. Celebrate that there is someplace you can come to, that you can be a part of...

Melina: And belong.

Dave: ...and belong and doesn't have anything to do with a hotel room on a temporary, transient sort of basis, right? You know, so those are the common things that I get. Is there anything that I mentioned to you guys earlier? I want to keep this short and concise, and is there anything you'd like to add to that, honey?

Melina: No, I think you hit it all. I think it's good. I think the last thing I would say to people is just come and check it out. Trust your own judgment, period. If, you know, people can walk into the office and either they are attracted to what we do or they are repulsed, and you should go with whatever your gut is.

Dave: Yeah, for sure. And here would be a really cool thing, if you're listening to this podcast, you wanna wow us when you come down to the club, we have a year-round food drive for a local charity. You wanna wow us? It'd be really impressive at the very end of this if you're actually listening and when you come down, you go in your pantry and bring a non-perishable food item that we could pay it forward and pass it on to the local charity that Melina sits on the board of directors for.

Melina: Mm-hmm.

Dave: That would be really impressive.

Melina: Yeah.

Dave: So with that, let's go get some lunch.

Melina: Sounds good.

Dave: Awesome. Thanks, guys, for joining us again today.

Melina: See you, guys.

Dave: All right. We are flippin something. About to flip a burger down into my stomach.

Melina: Down the trap.

Dave: All right. Great job, guys.