In this episode of the "Replace Your Income" podcast, Kevin and Steve discuss their return after a long hiatus and the successful weekend event they recently hosted. The event marked the relaunch of their real estate intensives, which they used to conduct regularly, helping participants immerse themselves in income replacement strategies and real estate investment. They emphasized the importance of community, noting how gathering with like-minded individuals helps reinvigorate goals and commitment to action.
They also announced that these events will be held quarterly moving forward. During the event, they introduced various strategies, including cost segregation, bonus depreciation, and other tax benefits that can significantly enhance investment outcomes. Kevin shared a personal story about his son being excited to see his name in their newly released book, "Micro Wins to Millions," which they distributed at the event.
The discussion then shifted to current market conditions, where Steve highlighted the potential risks of waiting for lower interest rates before investing in real estate. He argued that while lower rates might come, waiting could mean missing out on the opportunity to buy properties at lower prices. They both emphasized the importance of taking action now, given the unique market dynamics where demand is high and property values are likely to rise as interest rates fall.
Overall, the podcast conveyed a sense of urgency for investors to engage with the market now and the benefits of participating in their upcoming events to stay connected and motivated.
0:00 - Event Recap
5:25 - Book Buzz
18:39 - Intro to Mid-Term Rentals
27:51 - DFY Family
31:51 - Watch Your Inboxes!
00:00:00:00 - 00:00:06:09
Kevin
All right. Well hello everybody, and welcome to replace your income with Kevin and Steve.
00:00:06:10 - 00:00:08:09
Steve
Kev, it has been a while. What is going on?
00:00:08:12 - 00:00:30:01
Kevin
It has been a while, in fact, I've aged a decade, so it's been ten years since we did know. It's not been that long, but it does feel like it's been a long time. But it is so good to be back, man. We just had an incredible weekend and that we we kind of made a commitment to everybody at an event that we did hear that this podcast is coming back full force.
00:00:30:02 - 00:00:49:00
Kevin
We did a book signing. It was cool. We had people coming up saying, hey, I've listened to you guys for a long time and it's cool to finally get a book. And yeah. So we're like, all right, let's do it. Let's do a recap of what happened this weekend. Let's get everybody up to speed. We got some really cool and exciting announcements and it is go time replace your income is back.
00:00:49:02 - 00:01:10:16
Steve
Absolutely I like the event itself. Was it was just fun to reconnect with everybody and to you know we talk about people all the time. In fact as I was, I, I saw the decorators and I was like, you guys are legendary around here. And it's been so long since I've seen you in person. It's like, it's so good to see you and to be able to connect and have that community once again.
00:01:10:16 - 00:01:26:19
Steve
It's been over five years. Yeah, since we had an event like this where we really invited all of our clients to in person, and we had such a great group of people and, such a great crowd, both in terms of quality of people and just size of the crowd is fantastic.
00:01:27:00 - 00:01:49:13
Kevin
Yeah, it was awesome. And what was cool is we used to do so back in the day, we used to do these events that we called real estate intensives, and we would do them every couple months and we even would go on the road. We even took the show on the road. I know, because I remember doing a real estate intensive in Arizona, in Las Vegas, in Florida, in New York.
00:01:49:15 - 00:02:17:03
Kevin
I'm trying to think there might be another 1 or 2, but we used to take these things on the road, and of course we would do a bunch of them here in Utah. And they were always awesome because it always gave everybody an opportunity to do two things. One was to be fully immersed in this idea of income replacement, of economic independence, of getting ten properties of Dunphy real estate and Moneyball real estate and everything that that kind of, you know, that belongs to.
00:02:17:06 - 00:02:42:17
Kevin
And then it would give people the ability to connect with us and with each other. And that connection was always so powerful. And it's time to rebuild that community, that feeling of community we've had, the community has existed, but to be able to gather together frequently and to build that feeling of community to to break bread together, to look at each other across the table and talk about what's happening in our game plans and in our lives.
00:02:42:21 - 00:02:44:23
Kevin
That is something really cool. And it was really well.
00:02:44:23 - 00:03:05:14
Steve
When you get together with like like minded people who have similar goals, similar values, there's something powerful, the energy, you know, individuals walk away like more like recommitted, more energized to really execute on their game plans. And, you know, the one thing that all human beings have in common.
00:03:05:16 - 00:03:07:19
Kevin
you know.
00:03:07:21 - 00:03:09:23
Steve
We all forget really quickly.
00:03:10:00 - 00:03:12:14
Kevin
Okay. I was trying to think of something witty, and it did not come.
00:03:12:16 - 00:03:29:23
Steve
We all forget really, really quickly. even when we have, like, the best intentions, we have these goals, we have this game plan, we get started on things, we get going. And especially in the world of real estate, especially the way we do it, where it's like it's kind of like, hurry up, take your time. Like you hurry up and get that first property.
00:03:29:23 - 00:03:51:14
Steve
You get your first couple of properties and then literally it's like 5 to 7 years before you, like, rinse and repeat. that's a lot of time to be kind of be sitting back and, and during that time, a lot of things change and opportunities come up and you could accelerate your game plan. But when you're not, like, immersed in it and you're not thinking about it, we forget and we forget about like what we're really trying to achieve.
00:03:51:14 - 00:04:08:23
Steve
In fact, I had a one of our clients ask me just last week, he's like, I was on a call with him. He's like, C and he owns a lot of property. And he's like, C, remind me why I'm doing this again. And it's we had a great conversation and I was like, you just need to come to the intensive because that will remind you and remind you in a very powerful way.
00:04:09:05 - 00:04:17:19
Steve
So I'm super excited that we've got these back on track that we finally held this first intensive again and that it was, you know, such a great success.
00:04:17:21 - 00:04:29:03
Kevin
Yeah, absolutely. You know, you said that all humans have one thing in common, and I can't wait to find out what it is. I what was it? I just kidding, it was you said that.
00:04:29:05 - 00:04:31:06
Steve
I already forgot. What did I say.
00:04:31:08 - 00:05:00:20
Kevin
Everybody else seems like. No, dude, it was awesome. And we. Not only did we hold the intensive and we did it on a Friday and a Saturday, but we also had the the prerelease party, the first ever hardback dust jacket, wrapped copies of our book that we've been working on for 93 years. Micro wins to millions went out the door and we had people lined up to get copies of the book.
00:05:00:23 - 00:05:25:05
Kevin
We were able to sign books and talk to some folks that were here and some others that came that weren't at the event, but I said, hey, listen, first hundred copies, you know, come and get them for free. And that was I don't know, I don't know how you felt, but that also, for me, just felt like, I don't know, a bit of a, a long time coming, right, that we're finally giving this book to folks and that they finally have it in their hands.
00:05:25:05 - 00:05:39:09
Kevin
I got to tell you, you know, look, we've been working on this for a long time. We've been talking about it for a long time. Well, we've been excited for a long time. And I put a little post when we got the hardbacks. that your daughter went and picked up, by the way, because, our printer was running behind schedule.
00:05:39:09 - 00:06:06:02
Kevin
So, your daughter drove to Vegas to get them here for the event. Thank you. Laura. but, what was awesome is having that book in hand. I was able to take a picture, and I posted it on social media, and it was one of the biggest posts that I've had in a long time. People were so excited for us and wanted a copy of that book, but that pales in comparison to the cooler thing that happened last night.
00:06:06:04 - 00:06:23:01
Kevin
So last night I, Well, yesterday we went visited my parents and my dad was at the event, so he took a book home. And my son, Brody, my ten year old, knows that, I wrote a story in there about him and his soccer team. Now, I don't call him by name in the, but I. I write about him, and he.
00:06:23:01 - 00:06:35:11
Kevin
It was the first time that he'd seen the book. Where? At my parents house. And he goes and he grabs the book right away goes, dad, where's the story about me? Like he was just he knew he was in the book. And so I found in the story, I read him the story and he he thought that was really cool.
00:06:35:11 - 00:06:54:13
Kevin
And then later that night, we're back home and, we're getting ready for bed, and he sometimes will, listen to, like, a book. Like an audiobook. Right? Like, off of a little Alexa. Like, he's listen to my other book, flip the Gratitude Switch, and my sons listen to cool stuff like How to Win Friends and Influence People and just, like, awesome stuff.
00:06:54:15 - 00:07:10:19
Kevin
And he, he, he has a little he has a little, like, t mobile sync up, watch so he can call us and and that charges next to his bed. Can't do anything on it except, like, text the call. And so, he called and wondered why he's like, dad, the Alexa's not working. I keep telling it to play.
00:07:10:19 - 00:07:29:06
Kevin
Micro wins to millions and it's not working. And I was like, that's cause we don't have the audiobook done yet, buddy. But I was like, how cool is it that my ten year old wants to listen to our book as he's going to sleep? And for me, it was like as awesome as it was to have everybody here grabbing those books and and coming and visiting and leaving with them.
00:07:29:06 - 00:07:33:23
Kevin
That for me. Steve, is is really why we do this. It was just I know this. It's kind of neat.
00:07:34:01 - 00:07:54:08
Steve
Yeah. No, it that's a really cool story to have. that's it's pretty phenomenal when your family gets behind, especially your kids, when they get excited about something. That's a big accomplishment in your life because we always get excited about our kids and their accomplishments. But when the reverse happens and they're like, so congratulatory at such a young age as well, you know, just ten years old that that's that's pretty cool.
00:07:54:09 - 00:08:13:14
Kevin
Yeah, I know, it was pretty cool. So we had this awesome event and here we we need everybody to understand that event culture is back at Dunphy. Real estate like this is not a one time occurrence, Steve. We are going to be holding quarterly events for now. For the foreseeable future, all the live attendees will be able to come to our office.
00:08:13:17 - 00:08:24:18
Kevin
We cleared out the whole middle of our office. We could talk about why that happened, in order to do the event. And then we had a bunch of people online as well. But we are going to be holding these every single quarter.
00:08:24:20 - 00:08:41:09
Steve
And Kev, I have. So I got to share this real quick. So what of our clients and I'll call it his name. I'll just give the first name Paul. You know who you are Paul. I was like, hey, you come into the intensive. He's like, hey, like I've already drunk the Kool-Aid. Like I'm in. I'm like, I'm buying another home, like this week.
00:08:41:11 - 00:09:21:11
Steve
And I'm like, Paul, like, you got to come to the event. Like we're going to be talking about all kinds of cool stuff and the opportunity to kind of, you know, co-mingle or mingle with, other like minded people, an opportunity to get together and to be reminded and to look at strategies because we dove deep into some pretty cool strategies all the way from cost segregation to bonus depreciation to, you know, becoming a real estate professional, to tax strategies, to some other strategies that can really enhance your investing, experience and, increase your profitability in a massive way.
00:09:21:11 - 00:09:37:01
Steve
We introduced a whole new concept. it's like that's why you get to come even if you've been a long time customer and you love us and it's like you don't need to like it wasn't a sales pitch like we weren't we didn't we didn't sell a single thing, including our book. We gave that away. Gave it.
00:09:37:01 - 00:09:37:11
Kevin
Away. Yeah.
00:09:37:12 - 00:09:46:08
Steve
Anyways, I was like, Paul, like, this is why you want to come, even though you're a long time client, even though you're fully engaged, it's just an opportunity to take things to a whole new level.
00:09:46:08 - 00:10:12:09
Kevin
Well, and I'll tell you what, we had clients that were there that used to come to the intensives that have literally been with us for a decade, and some of them were standing up and talking about their story and what they've accomplished. And it is absolutely incredible. But I'll tell you, in our experience, Steve, knowing that we used to do intensives, knowing that they're coming back, I think bar none are clients that have done the most real estate consistently over years to grow their portfolio.
00:10:12:14 - 00:10:41:12
Kevin
Are people that come to these events because not because the event by itself is like giving them something extra that they can't get from us a different way. But when you put yourself in the room, when you allow yourself and I mention this to the audience, there's something really spectacular about when you allow yourself to be immersed in an idea, in a concept, especially when you're in the room with the folks that are helping you sort of put it into practice.
00:10:41:14 - 00:11:11:15
Kevin
It is an environment. It is literally an action taking petri dish like it. It just grows the desire to do it, the desire to move forward. Because one of the things that we talked about, is there is an actual real time literal cost, like a real dollar expense cost to doing nothing. And one of the big highlights that we talked about at the intensive was precisely what's happening right now.
00:11:11:20 - 00:11:33:22
Kevin
We always say that now's a good time to buy, but we're literally like we are looking at something that is knocking at the door. That may be an all timer. just given the current situation that we're in. So let's maybe talk just about that briefly. So for those of you that weren't at the intensive and don't what didn't get a chance to hear about that and even those that work as a reminder, what is happening right now.
00:11:33:22 - 00:11:48:11
Kevin
And this is part of why we felt so compelled to bring intensives back and to be with people so that they will take action so that it's not costing them literal dollars by sitting by and, and sort of comfortably coasting through their portfolio.
00:11:48:14 - 00:12:06:03
Steve
Yeah. So recently if, if, you know, for those who are listening today, interest rates have dropped a little bit in the last few weeks. And that's on word that the fed is going to drop their rate in September. And when they drop their rates in September, you know, there will probably be some additional moves things are getting.
00:12:06:03 - 00:12:30:20
Steve
Interest rates are being baked into that, anticipation right now. They're being baked into the market. But things will continue to go down. And I'm going to make a suggestion that seems totally counterintuitive. You just might miss the boat if you wait for those lower interest rates. Like what real estate investor would suggest to other investors, you need to hurry invest before rates drop.
00:12:30:20 - 00:12:55:02
Steve
Yeah, that's a crazy statement, right? If the market wasn't so crazy right now, if there weren't literally a shortage of properties to the tune of over 7 million homes, the moment that interest rates drop, there's something is going to happen that we experienced in the past, recently, which every single home that was being purchased, whether it was an investment property, a primary residence, it didn't matter.
00:12:55:04 - 00:13:13:12
Steve
There were selling for more than asking price. Yeah, I don't know if we're going to have the same kind of frenzy, because I don't think interest rates are going to drop as low as they did before. But even small drops in the interest rate right now is already producing, the effect of multiple offers. We have a client just this weekend.
00:13:13:13 - 00:13:35:08
Steve
He was at the event. He made an offer offer on a property during the event in one of our markets, and he was in a multiple offer situation like it's already happening. And so before that frenzy happens, like you can always refinance to a lower rate if rates just go crazy and really drop, but you can't go back in time and get it at a lower price point.
00:13:35:10 - 00:14:00:07
Steve
And then initial equity that you can build into the property right now is the thing that takes time. And the fact that that, that that homes could increase by thousands of dollars in the course of, you know, the next few months, is, is pretty dramatic. And so that's why, you know, I'm saying it's like, even though it's counterintuitive, you might want to try and get into a property before you can get a lower rate.
00:14:00:12 - 00:14:18:15
Kevin
Yeah, 100%. It's like if if Apple was coming out with the iPad and they had, a handful of the first batch that they did it, they said, hey, look, you, we want to test or we want you to go and buy the we're going to give you this iPad for $200, because we know that once we launch it to the public, it's going to be $700.
00:14:18:15 - 00:14:40:06
Kevin
Wouldn't you buy the iPad for $200? That is kind of what we're seeing here. There is an opportunity right now. and and look, we know that we know that demand has been pent up for a long time. We know that there are still a lot of people that are sitting on the sideline not purchasing primary residences, because they've been scared off by the interest rates.
00:14:40:06 - 00:15:04:15
Kevin
And that's one thing that everybody needs to understand. We're not just talking about it as investors, right. The a big push will come from people that have been waiting and waiting to finally buy their primary residence, and they're the ones that will wait for the interest rates to drop. And when the interest rates drop, because they're like, oh, I'm going to live here for the next 50 years, I'm going to put a 30 year mortgage and actually plan to pay it for 30 years.
00:15:04:17 - 00:15:22:07
Kevin
They're the ones that when the interest rates drop, they're the ones that are popping up. And that's why we're seeing some multiple offer scenarios. Right. Because interest rates came down a little bit. It was a it's going to be enough for people out there to say, all right, this is all of a sudden it's now affordable. They're not looking for their every.
00:15:22:07 - 00:15:38:19
Kevin
But there's so many people that want to buy their primary residence, want to buy their home. And as soon as the interest rate is just low enough, they don't have to get slammed down, just low enough for that primary residence buyer to say, you know what? Okay, maybe this is enough for me to jump in. They're going to jump in.
00:15:38:23 - 00:15:57:21
Kevin
There's going to be multiple bids. And as that demand starts to be realized and the supply starts to continue to to be a little bit constricted, what's going to happen is prices are going to go up. And so when we say there is a literal cost, a literal expense to do nothing, that's what we're talking about.
00:15:58:03 - 00:16:18:23
Steve
Yeah, I, we received an email this morning, some feedback from one of the attendees at the event. And I really appreciated him saying this. It's like it's good to do business for multiple reasons. But one of the reasons, he said, is to be doing business with with people who are actually doing what they say I should be doing.
00:16:19:01 - 00:16:40:05
Steve
And CEB over the last two years, while interest rates have been higher, you and I have purchased more homes than we ever have before in those in that two year period of time. And we've been I feel like I've been yelling at the top of my voice, telling people, it's like like right now is the time. Like like even though interest rates are just a little bit higher.
00:16:40:05 - 00:16:58:07
Steve
I put together a five minute video with the case study describing why, you know, why this was an opportunity. And so, I appreciated that, that comment. But I just want to reiterate, like, we're not just saying this. It's like we have been taking advantage of the higher interest rates.
00:16:58:07 - 00:17:21:08
Kevin
100%. And one of the ways we've been taking advantage of the higher interest rates is with something else that we announced at the intensive for the first time sort of publicly, which is, look, we've been talking for a long time on this podcast about hitting real estate singles, and we will never stop. But we've also, said that there may be times when you maybe want to get a double.
00:17:21:13 - 00:17:43:05
Kevin
Right. And so Moneyball real estate is in full effect. We are hitting singles every single day. But as the years have kind of progressed, Steve and I have been looking at something for years that we thought could be an opportunity, might be a little bit higher risk because it could be a little bit more expensive. It's a little bit of a different strategy, but still not a super risky strategy.
00:17:43:05 - 00:18:00:03
Kevin
It is not swinging for the fences. It is not go big or go home. It is, it is just a little bit of a metamorphosis of an existing strategy for a particular product in a certain type of market that that is kind of an opportunity right now. And we a few of our clients have been doing these.
00:18:00:03 - 00:18:19:14
Kevin
We, you and I have purchased these. this has been a long time coming. It's been a ton of research. And Steve, you really hunkered down and figured something out that is absolutely brilliant with, one of our suppliers, and it's, kind of a newer product that this is the first time we've ever talked about it on the podcast.
00:18:19:17 - 00:18:36:17
Kevin
It's not in microchips to millions because it's not a part of that book. Likelihood is that we'll probably do another book on that strategy, this strategy, in the near future. But this is something that has been working incredibly well for you and I and for a number of our clients. And so let's just, let's just touch on it.
00:18:36:17 - 00:18:44:11
Kevin
Maybe we can do another episode and go a little bit deeper. But let's talk about what does it look like to maybe hit a hit a double even in this environment?
00:18:44:13 - 00:19:05:10
Steve
Yeah. So in this podcast we'll just kind of scratch the surface on this. So we have long term rentals which have been phenomenal. We've been doing that for 15 plus years. a long term rental is a property that you're going to rent out for, you know, at least a minimum of one year at a time. you know, and everybody knows what our typical property is three bed, two bath, two car garage.
00:19:05:10 - 00:19:23:08
Steve
And, you know, it's a single family home in a good neighborhood. And all the other criteria that I won't jump into. We've been doing it for a long time, and it works phenomenally well. a few years ago we started looking into, like, short term rentals, meaning like, you know, Airbnbs and that kind of a thing, whether that might be something that could work for our clients.
00:19:23:08 - 00:19:40:11
Steve
After extensive research, you and I traveled, to some different areas to meet some people and to look into it. We decided that that for the money real estate system, it didn't quite work for a number of reasons. And because we're principle based, even though we knew that we could go up, we could probably sell a gazillion of these.
00:19:40:11 - 00:20:04:04
Steve
We're like, it doesn't fit our model. It doesn't fit the type of investment property that we know is like the type of property that we want to help our clients get into. there's too much risk, too much volatility, too much different thing, too much time, requirement and so on. and so we, we kind of shelved, that product as, as something that we might be able to offer to, to our clients.
00:20:04:06 - 00:20:45:04
Steve
But that led us to looking into other opportunities, led us into meeting, some, some great individuals, who through them, we discovered this this strategy. And we coined a term. Yeah. And the the term that we coined is mid term rental. You're not going to hear that term anywhere else other than here at DFA. but essentially what it is is it's, it's, it's in between a short term Airbnb type rental and a long term rental where our clients are, they're able to rent these properties out for anywhere from a few months to up to, you know, maybe a year on the long term.
00:20:45:04 - 00:21:14:23
Steve
But but but usually it's less than. So it's typically the average is closer to 3 to 6 months. And these homes, they still sit in our box. They're 3 to 4 bedrooms, 2 to 3 car garage. They're just a little bit nicer, you know, have nicer features. a little bit more custom. But they're still in that price range, where we buy the many ways of 300 to 350,000, whereas our mid whereas our long terms are 250 to 300 typically.
00:21:15:01 - 00:21:34:11
Steve
And and what these are is and we won't get into the details, but we rent them to companies who have people stay in them. And we've been doing this for over two years now through this experience. And between the properties that we've purchased and our clients have purchased, you know, we're I think we're approaching, you know, 40, 50 homes now.
00:21:34:11 - 00:21:52:19
Steve
And so we have a pretty good track record. And if we wanted to really we've done our due diligence. Now, not only the property, the type of property in this type of strategy itself, but the partner who we are working with, we've had enough time under our belt now. And you know what? In real estate, real estate is messy.
00:21:52:21 - 00:22:15:14
Steve
And you really find the worth of of a partner and an individual, who you're working with to help you when you have problems. And of course, in any real estate, you know, different challenges that have come up. And to see our partner the way that they have, dealt with and handled and moved forward, to, to, to to make sure that these issues were handled properly.
00:22:15:14 - 00:22:42:14
Steve
Properly, I've been blown away. They are cut from the same cloth as DFI where they are in this for the long term. They're in it for the customer and for their experience, because we want our clients to have a good experience where they want to come back and do it again, and we've been able to over the course of of last years, we've been able to really hone in our expectations that that we set out to make sure that we don't oversell, but that we can undersell and overdeliver.
00:22:42:14 - 00:23:02:08
Steve
It's the exact same thing there. So to get more details, we're not going to provide those details now. But it was so exciting to introduce this strategy to the to the room that was there. 80% of them had never heard of heard of it before. They were 20% of our clients who had heard of them because we had introduced it to a handful of them.
00:23:02:10 - 00:23:10:11
Steve
And so it was pretty awesome just to, like, literally see their eyeballs in the gasps as they saw, like the opportunity, you know, that was in front of them.
00:23:10:11 - 00:23:29:18
Kevin
Well, and while we won't get into many details right now, we'll do it on a future episode. Let me just say this it is a slightly more expensive product, but it also has a pretty solid potential cash flow opportunity right now. And while cash flow isn't the end all be all of real estate, it's one of the profit centers.
00:23:29:20 - 00:23:51:09
Kevin
It is something that we know that those of you listening and that our clients, it is something that you consider and this is an opportunity to create maybe some additional cash flow than like a long term rental. But it also you take on a little bit more risk with the way this type of property in this type of product works, although it's not I wouldn't call it risky, but it's a little bit of a different product.
00:23:51:09 - 00:24:08:19
Steve
So we call it and we kind of call it a double, right? You're hitting a double. It's a little bit more money, slightly more risk. It's a different strategy. and and it's, it's pretty cool from that standpoint. So it fits nicely into our, our model of, you know, what makes a purchase worthy property.
00:24:08:19 - 00:24:25:21
Kevin
And we know that real estate always provides rewards, but a double little bit more risky. You're swinging a little harder. You have to round first and go to second. There's a little bit more on the line, but there's a little greater reward overall. Like this is a type of property that still contains all of the rewards that a long term rental does.
00:24:26:00 - 00:24:43:23
Kevin
But there's one aspect, namely cash flow, that may potentially give a little bit more reward. And so that's kind of cool. And so we will talk more about it. But I think you're right. The response from everybody was awesome. It was great to be able to introduce that and to be able to introduce the team that's running it.
00:24:44:02 - 00:25:03:11
Kevin
That's one of the other things that I love doing about the intensives that we will continue to do, which is talk to our market teams. And, and so that you can hear from the people that are out there in the markets doing the thing, both on the property management side, on the actual purchase transaction side, as well as our internal team.
00:25:03:15 - 00:25:05:03
Kevin
Just so great to be able to.
00:25:05:05 - 00:25:28:07
Steve
And Kev, we do we we recorded the whole intensive and it's already available just and did a fantastic job getting that ready, making it available almost immediately following the intensive. And if people are interested in watching the whole thing or you want to watch certain segments, you want to learn more about, the MTG, the midterm rentals, we can get you that link if you requested.
00:25:28:07 - 00:25:45:04
Kevin
Yeah. That's right. Yeah, for sure. And we, we do have it up on a website. And so if you are interested in seeing the replays and you did not get a chance to check them out, let us know, you know, drop in the comments on YouTube or feel free to send me an email. Kevin at DFI Dash Real estate.com and we will make it happen.
00:25:45:04 - 00:26:01:09
Kevin
Now here's the other thing we need you to know is this was not the first and only intensive. We've got another one coming up in a couple months. It's going to be November 8th and ninth here at the office. and it's going to be awesome. And I will tell you, you know, I feel that at this intensive, we absolutely made it rain.
00:26:01:13 - 00:26:25:17
Kevin
Both, metaphorically and literally. and so it's everybody knows, it was the part of the reason why we ended up doing it in our main office is there was the great storm of 2024 that rolled through Orem, Utah last week with insane hail like practically golf ball sized hail in some areas. And, what ended up happening is it flooded that we are on the second floor.
00:26:25:17 - 00:26:40:02
Kevin
It flooded the basement of our building, which is where we were going to do the event. We moved it up to the second floor, but the second floor is closer to the ceiling and the ceiling had all kinds of hail damage. We didn't know about it. So during the event we had about 30 leaks coming from the ceiling.
00:26:40:02 - 00:26:50:09
Kevin
It wasn't just us, it was all of the offices around here. And, so, you know, we got to make it rain, both literally and, and metaphorically. Right.
00:26:50:13 - 00:27:09:01
Steve
It was pretty awesome. The rain started coming down. And, you know, when, when you can hear rain on your roof. Yeah. And you just kind of get that calming feeling. It's like you're inside and you're dry and it's storming outside, and then, like, drip started coming through the ceiling and like, in one place, we're like, whoa, that's kind of weird.
00:27:09:06 - 00:27:15:14
Steve
We went got a bucket and we put it underneath it. And then another spot like we had like 30 trash cans that we ran.
00:27:15:14 - 00:27:29:01
Kevin
Out of trash cans. Yeah. It felt like it felt like one of those cartoons where like, you know, I don't know, Bugs Bunny or something in a boat, and it brings a leak and he puts his finger right. And then on the other side of the boat, he has to put his toe in it. And then, you know, he's using whatever he can because it just that's what it felt like.
00:27:29:03 - 00:27:50:19
Kevin
It was crazy. And but now, thankfully, the office feels like the rain forest, and so that's nice. You know, it's really it's really good. No, it was it was an awesome event. We are so excited that the event culture is back. And for those of you that have yet to do real estate, have not been able to do real estate that don't have money to go and buy your property.
00:27:51:00 - 00:28:29:01
Kevin
This is now a community of events that you can come to regularly quarterly, where you can come engage the content, be with the team, learn this stuff and prepare through a very specific game plan. Design in to to go do your next or your first property. And that's what these events are really going to be great for. If you've yet to do real estate, if you've done real estate, this event, these all of these events will help you accelerate your portfolio, continue to design and, and change potentially your game plan to move towards the economic independence that everybody really is seeking.
00:28:29:03 - 00:28:46:08
Steve
One of the, one of the last takeaways that I'd like to, just suggest that we review real quickly is we kind of shared with our customers. We've had like a client referral program for years, but we've never really promoted it. Yeah. we've we've been pretty casual about it, and we still are pretty casual about it.
00:28:46:10 - 00:29:07:05
Steve
But what's really interesting is 75% of our business every month comes from repeat customers and from referrals from our customers, and we shared that with with the group. They were blown away. It's like really because we have a pretty good marketing arm as well, and people see some of that stuff. But but they're kind of blown away that, that, that, that was the case.
00:29:07:07 - 00:29:22:13
Steve
And I mean, we've been doing this long enough and we have enough customers who have just had tremendous experiences that they just kind of naturally, without even knowing that the program program exists. They refer, you know, people to us. And when they get like a thank you check in the mail or whatever, that that's kind of a nice thing.
00:29:22:15 - 00:29:43:11
Steve
And, and so, and we've set the program up to where, you know, just for any real estate agents out there who might be hearing this, like, we don't pay based on transaction, we pay based on a referral, whether they transact or not. And so that's an important part of the program in order to stay compliant, in the real estate world.
00:29:43:13 - 00:30:00:00
Steve
And so, you know, that was one of the things that we were you received another email this morning saying, hey, thanks for sharing that program with us. It's like, I am like on board. I'm so excited. I've already shared it with two people. And, and they're not necessarily doing it just because there's a referral program, but because they're excited about what we're doing.
00:30:00:02 - 00:30:18:21
Steve
But just to kind of get it out there that we do have, we have a very, a very robust referral program. And that's another thing that if you want more information about, you can email Kevin and he can provide you with those, details. And and so that was one of my takeaways as well, was that our clients just really don't know about it because we haven't promoted it.
00:30:19:02 - 00:30:40:09
Steve
But we want people to know that that exists. And, and we're in the process of creating a super simple way of being able to refer people where it's like, hey, you'll be able to send them a super simple link that will have like a DFI webinar, included, you know, in that with that link where if you're not sure exactly how to share it, you can ask for this link, we can send it to you.
00:30:40:12 - 00:30:53:09
Steve
And there's like a 60 minute webinar that Kevin put together that's just phenomenal. That will explain things. So you don't have to like, you know, figure it out yourself. You know, how to do it. So the goal is to just make that as simple and easy as possible as well.
00:30:53:09 - 00:31:14:04
Kevin
Within the next couple of months, micro cements will be widely available. So it was kind of like a prerelease party. It was not a launch we have not launched yet. But I'll tell you what. One of the simplest ways to refer something you love to somebody else is to hand something physical to them. And the book will allow anybody out there to be able to say, hey, just take a look at this book and see if you think these guys are crazy or not, you to check them out.
00:31:14:09 - 00:31:31:19
Kevin
And, and we are always so appreciative of that. And we're also appreciative of reviews. And if you've not gone and reviewed the Replace Your Income podcast, that would be awesome. It's been a long time since we mentioned that. It'll take it just a minute or two. but if you could go leave us a five star review, that would be great.
00:31:31:21 - 00:31:51:16
Kevin
we really appreciate that. It helps the podcast. It helps us grow. And and if you are not currently subscribed to our YouTube channel, this is now a video podcast as well as just an audio podcast. Subscribe to the YouTube channel done for you real estate. And and you'll be able to watch this video, podcast or you can listen to it, but we just appreciate everybody out there.
00:31:51:16 - 00:32:22:12
Kevin
It was so good to be with everybody. Thank you for being a part of this family. we are so excited to continue to let you know how you can be a part of this family. These events are not stopping. Check your inbox. Watch your emails from Kevin ADF, white House Real estate.com. We are going to constantly be sharing with you when the next event is going to be how you can attend, where it's going to be, what we're going to be covering, and we really want to make this a big piece of the DFI culture so we can connect so we can be with you and so we can all take strides together, because
00:32:22:12 - 00:32:48:09
Kevin
this world needs us as investors, as as real estate revolutionaries, as people who are going to change our financial stars. We have to gather together because the vast majority of Americans are not going to do it. It may be up to us to be the ones that can save the Republic in more ways than one. And I know that when we gather together, we have more strength to do just that.
00:32:48:09 - 00:33:04:14
Kevin
So thank you, everybody, for joining. We hope that this was beneficial, that you enjoyed the recap of the intensive. Let me know if you want the replays. Go leave a review, subscribe to the YouTube channel and keep watching your inbox. We have so much more coming your way. Thanks for joining us and we'll see you real soon.
00:33:04:19 - 00:33:11:05
Steve
Take care. And.