Welcome to The Accelerated Investor Podcast with Josh Cantwell, if you love entrepreneurship and investing in real estate then you are in the right place. Josh is the CEO of Freeland Ventures Real Estate Private Equity and has personally invested in well over 500 properties all across the country. He’s also made hundreds of private lender loans and owns over 1,000 units of apartments. Josh is an expert at raising private money for deals and he prides himself on never having had a boss in his entire adult life. Josh and his team also mentor investors and entrepreneurs from all over the world. He doesn’t dream about doing deals, he actually does them and so do his listeners and students. Now sit back, listen, learn, and accelerate your business, your life, and your investing with The Accelerated Investor Podcast.

Josh: Hey, welcome back. It’s Josh and I wanted to just say how thankful I am that you’re here sharing some time with me, whether it’s on YouTube, Facebook, Google, inside of i-tunes today. I’ve got another amazing podcast for you. I know there’s a lot of competition right now for deals.

Josh: And so my guest, his name is Phillip Vincent. Phillip is an amazing entrepreneur who’s found a great niche of getting motivated seller leads through the senior living community. Check this out. About nine years ago has been a real estate investor for 22 years. He’s got a wholesaling. He’s done development. He got kicked in the teeth. You’re gonna hear the story about how he got kicked in the teeth back in 2008 with a million-dollar spec home and then starting in 2011, really started to refine his niche, get in a specific lane, which was networking in the senior living communities. So think of places like assisted living facilities, hospice, nursing homes, retirement communities, 55 and over communities.

Josh: And he started finding ways to network with those directors, executives, social workers, nurses that work inside of those facilities and know that mom and dad are going to need to eventually sell their home in order to pay for that facility. We’re to talk about metrics like, you know, working with the residents in their last twenty eight months of their life and actually working with the adult children who are taking care of mom and dad and getting that property sold to a real estate investor quickly, easily so that they can have the cash to pay for mom and dad’s assisted living, senior living hospice and end of life care. So in this particular accelerant buster episode, you’re going to hear a very specific strategy for networking in the senior community, senior living community and how to get hot leads, very warm introductions from centers of influence for residential homes that need to be sold to take care of mom and dad. You’re gonna love this interview with Phil Vincent. Check it out.

Josh: So, hey, Phil, thanks so much for joining us today on Accelerated Investor.

Phillip: Thank you, Josh, for having me. I appreciate it.

Josh: Fantastic. So, Phil, I’d love to start out with my audience, get to know you a little bit better by kind of helping them understand. What are you excited most about right now? Obviously, we’re still kind of, you know, in this middle of this COVID thing, they’re talking about maybe a vaccine. We’re coming up on an election. There’s a lot of noise out in the world. But as an entrepreneur, we know that that noise doesn’t really affect our day to day operation, our capacity to make money, make revenue and to really fulfill our dreams as real estate investors and entrepreneurs. And so I’m always curious when I talk to new friends, what are they working on right now that they’re most excited about, plowing through all the noise to make their life the life that they want? So tell us about what’s working on.

Phillip: Yeah, I agree with everything you just said. The world is noisy right now. And so I’m in the unsexy world of senior living. And what I mean by that’s not sexy. Come on. You know, nobody’s mad at Nana because she got old, right? Yeah. So we keep using this word recession proof real estate. Well, getting old and passing away is pretty recession proof. You know, I think about your great grandmother’s great grandmother a lot. Josh, you know, tell me about her. You know, we’re on this earth for such a short time, you know? And I feel like I mean, the hugs and kisses business. And what I mean by that is I’m trying to help the adult children who are helping their mom move into single living at one of the hardest times of their life. Truly, it’s one of the hardest parts of their life. Right.

Phillip: And I’m every decision I make for Mom’s house is, am I putting the adult children first as real estate investors or the easy part of this? Right. It’s everything else that you and I are brothers and we’re going through this experience. It’s pretty traumatic. In fact, it’s called crisis management. So I business from one I’m excited about from a national level is we’re getting traction in the senior living room from the top down. And I’m teaching my students from the bottom up to come up. You know, I’m so I’m excited because it’s working. Right. You know, when you set out to do something and it starts to manifest itself and you see it working like I’m a product proper of this baby.

Josh: Nice. That’s fantastic. You know. Interesting story. So literally, as we record this, my father has pretty advanced Parkinson’s. My audience knows this. I talk about this with them. And my dad just fell and broke his hip literally two weeks ago. He just had partial hip replacement surgery on Saturday, about five days ago as of this recording. And you said two brothers. So I’m managing this with my brother Mark, who is my former business partner. I have older brother Matt, but he lives in Utah. And mom, my mom is a spry, healthy seventy-three-year-old. My dad is very advanced Parkinson’s, having trouble walking, having trouble talking. And so this conversation that we’re having hits very close to home because, you know, in the next five or 10 years, probably won’t have my dad and or maybe less.

Josh: And my mom, you know, my mom’s mom is 93. I just went to sort of see her. On Tuesday, I was out looking at 112-unit apartment building. I’ll buy Youngstown, Ohio. I went to see my grandmother. She is so spry at 93. She’s washing her windows on the outside of her house. And she fell off and had like a black and blue bruise on her ass. She pulled down her pants to show me her black and blue. So now you’ve got, like, grandma, right? Who’s 93? My kid’s great grandmother, 93, still lives alone. She’s going through exactly what you’re talking about cause she has adult children. My mom and her sisters and brother in their 70s. Then you got my dad and my mom’s probably going to be in the same situation as a widow as my as my grandmother’s. I got this situation happening twice in my own family as we talk about this is why I was so excited to have you on.

Josh:So help me understand. Now we know that’s your niche. That’s what you’re excited about. Help me understand if I’m a student of yours or I’m listening as an audience member, even for my own help with my own family situation. What are the specifics that you have to look for? How do you help the family, those adult children make decisions? How does it become a real estate investment opportunity for you and your students inside the real estate business? And how has that been lucrative for you?

Phillip: OK. You’re going. You are the calling card for what I do, right? What you just said is my story. Right. And you said the word hip twice. And it’s funny you said that because hip surgeries, the stat is if you’re over the age of 60 and you have a hip surgery, half the time, half the time, you don’t move back home. You attract some sort of 24-hour care. That’s a staggering because 60 is not that old as a 42-year-old girl. That’s not at all. Right. And so I like what she said to about one brothers in Utah and the average kid lives 400 miles away from mom. So, you know, we were talking earlier about rehab and stuff going on in our lives. Right. You and I are rocking out. Yeah. Good. Good contractors right now with the market being so hot, right, damn near impossible, right. Right. Oh. Even a family that, you know, you’re a real estate guy.

Phillip: So even the family that has real estate experience. If mom lives four states away, how efficient are you going to be at a rehab? And so that moment, you know. So what I would like to say is me as an investor, I get to wear my cape. I’m not the doctor that said mom needs 24-hour care. I didn’t give him that bad news. I’m not the financial person at the senior living community that told you that the place we picked up her mom’s eighty eight hundred dollars a month. I didn’t give him that news.

Phillip: But you and your brothers are looking into it, like, uh, I’m not paying for that. How we’re going to pay for this, right? That’s the simple question. How are we gonna pay for this job? It’s always the house. It’s that exact moment. You know, I look at we’re all real estate guys, right? We’re all doing direct mail and pay per click and all those expensive stuff. Why do we do direct mail? Why do we send to people that are over the age of 65 that have equity that have lived there 20 years? Why? It’s because you’re trying to find what I have. Exactly. Except the opposite is instead of spraying and praying with ten thousand letters a month. This family has said I need to sell my house. And even better, as much as your listeners are hearing me say I help the adult children. What I teach you guys how to do is find the stakeholders in the senior living business that have the ear of you and your brother, doctor, you and your brother.

Phillip: If you hire a what’s called a placement agent. That’s one of like 10 people I teach about. A placement agent is like a real estate agent for the senior living world. So you were not trained to know what care mom needs or your 93 year old grandmother needs. Right. But that placement agent will come to your house, meet with your mother. Understand her demographic, geographic needs, and give you a few suggestions and take you around whatever. And that’s a great question. Does your mommy live near you? Near your brother? Near her. Right. Either questions I can’t answer for you. And honestly, the family has such a tough time. Figuring out this route, I was on a podcast last week and the guy said it his. It was his grandmother. They had to help. And it was a 30 hour a week job for three months.

Phillip: And for them to figure out that she had an 80-pound dog. So nobody was going to take that dog right away. It’s like having a baby, right? Nobody is prepared for all of this. And so what you do is you rely back on the stakeholders in the senior living world. I teach my students how to network with those stakeholders because, guess what, me and you as brothers, we trust that person giving it, we’re trusting that person with our mother’s end of life care. And she happened to say, hey, you know, you don’t need to clean this place out or rehab it. I’ve got a guy that I trust that’s going to make you an offer. Do you want to listen to them? My success rate through the roof, man.

Josh: Oh, yeah. Because you’re getting such a warm introduction, right? It’s like, okay, you trust Mom to come and stay here or whether it may be a potentially maybe even respite care where she’s getting care at home and maybe it’s part time at home, part time in a facility. You know, we’ve looked at that for my dad, like my mom. My mom has to have her own surgery. She’s got this vein in her leg that start to give her some problems. But mom’s gonna be kind of out of commission for four or five days. In a word, we where we put dad during those four or five days because now he’s recovering from hip surgery. You’re talking to these types of placement agent that’s maybe working in the facility, maybe working at home could be a combination one or the other. You trust them for care about, you know, your most loved person in the world, your mom, your dad.

Josh: Are you going to listen to them if they say, hey, you know, I don’t know what’s going on with that situation, he can never go home again. Are you going to sell it as their assets to sell? How are you going to pay for the assisted living or the nursing home care, whatever it might be? Yeah, we got to sell it. Oh, by the way, I’ve got somebody. So give me give me some other strategies. What are some other ways? Because that is great. Especially thinking like I’ve looked at developing some assisted living facilities have gone and searched them for my own dad. I’ve talked to some of these people, the placement agents and the intake people, and they’ve got eighty or a hundred or two hundred potential clients for one real estate investor, because everybody in that facility is 60 to 90 years old and they all probably have a house to sell. Sogetting into that community would make logical sense. You’re going to get multiple leads per month or per week from people that are coming or going forever.

Phillip: Josh, I look at the oil wells I teach in and it’s called Twenty is plenty. And what I mean by that is if you have 20 people that know who you are, like me, if they know who I am and they think of me during their business day because they’re dealing with families in this exact situation every single day, I have more than enough leads. My business now comes to me. Every investor I talk to, Josh, spends 90 percent of their time trying to make their phone ring, which leads to I get phone calls with appointments from these stakeholders. They say, Hey, Phil. Can you be at Bob’s hose at two thirty on Tuesday to make an offer? Yes, I can. Got it. So I’ve simplified my life. I have a great life. I don’t work that many hours ago that built the relationship with the right people.

Josh: That’s fantastic. Real estate definitely is a relationship business, right? Relationships with the realtors, relationship with title companies, mortgage officers, lead sources, referral centers of influence. So, Phil, tell me how you got like, what if I’m new? Let’s say I’m a new student of yours and I’m in the Cleveland market. That’s my market. And I wanted to to learn more about this water. Some strategies that you would give me to make money from this and to learn like, well, how do I get my foot in the door with some of these facilities? How do I get that 20 referral sources find these placement agents? What are some techniques to get kind of get your foot in the door and get started, get leads like this?

Phillip: I like it. You said the terminology foot in the door right now with COVID. And because of the nature of senior living, people are going to hear this and think, I’ll just walk into the nearest senior living community near me. Right. Yeah. Walking in there, I buy houses and they’re gonna they’re gonna put their foot their mouth without even knowing they’re doing it and they’re gonna blacklist themselves without even knowing they’re doing it. And it’s for a few reasons. How real estate investors talk and how the senior living world is. Ah. Night and day. They’re very, very different. And even the term nursing home is not used anymore. And even the word facility is not used anymore. It’s senior living community residences. Yeah, there’s these there’s a P.C. it’s a P.C. world.

Phillip: And so when a guy walks in and says, hi, I’m Bob and I buy houses from old people moving into nursing homes. You might as well not even start. And, you know, and you’re gonna go home and say, well, Phil said this was gonna work. And, you know, I’m like, no, you know, and they want to put you in two boxes. Josh, both boxes can be negative. They want to think if they if they put you in an investor box, they think you might take advantage of grandma.

Phillip: And if they put you in the Realtor box, they don’t need you. Because their crocodile brain just turns off and they’re like, we know what a realtor does. You know, they already have a realtor. By the way, realtors are phenomenal for me because they walk in in this situation and they say clean this place out. Step one. Yeah, that’s a two-month job for a lot of families because that mom’s house had all the stuff in.

Josh: Oh, yeah. Like basements, full crawl space storage facility. But every corner of the basements full. That’s how it is for my mom. That’s how it is for my grandmother. That’s how it is for my wife’s mother. Every basement’s packed.

Phillip: Yep with life. Right. I call it life. And so if I like the person, I don’t call him a hoarder. I call him an aggressive collector and something like that. Grandmas are aggressive collectors, right? They just don’t throw anything away. And so it takes a good two months to get the house cleaned out. And then if you’re if you’re lucky, you get two more months to rehab the house up to 2020 standards and then, you know, the market’s hot. You’re gonna sell it in a month. Well, you just punted mom’s money six months down the road if everything goes well. What I do is I, how I help the senior living world. So not the family. Not the investor, but the senior living world is their average customer only lives with them. Twenty-eight months. That’s the average. So I’m adding months onto the front end of their stay and I’ve made it easier on the family.

Phillip: And so I’m very transparent with my numbers. I come in and tell the family exactly what I think the house will sell for in the retail market, exactly what, you know, things that need to be done to get it ready, what my rehab numbers are. But in that is where my value is, right? We do hundreds of deals a year. So my scale for rehabbing lets me do a sixty thousand dollar rehab for forty thousand. Well that twenty thousand dollars difference is my profit. Nice. So they are with the same amount and no logical person going to go. Wait a second. I can get damn near the same amount but do it in two weeks instead of six months without all the hassle. You know, if I catch your family like you talked about those crawlspaces, the basements. If I find the adult children on that second weekend of grabbing boxes out of the basement and bringing about to the dumpster, I’m golden because I’m like, you’re in a class. Stop doing that right now. Because here’s the thing. Heirlooms are easy to get rid of. Gold guns, get cash, jewelry. I’ll bet that stuff goes away in the first hour after that. It’s stuff that’s really hard to get rid of.

Josh: Yeah. So, Phil, how do you get, again, the foot in the door, meaning like we’re dealing with COVID. We’re not walking in the front door, you know, what are some techniques to start a build, start to build these relationships and just you to know that now.

Phillip: Okay, so let’s talk about the senior living world networks just as much as the real estate world. They’re out there doing networking events and a lot of them are on just like we’re on right now with a zoom call. But I tell you, right, you know, March, it all fell off, but it’s starting to come back live and in person, depending on what state you live in, you know how that’s working. So it’s coming back in person. They love to network. Let me tell you some examples of the difference. You’ve been to networking events in your local area, right? How many in the real estate world have you seen a picture of someone’s check? Have you ever seen that before? Oh, yeah, no doubt. All right. How big is your check? Right. It’s pretty common in our real estate world.

Phillip: I’ve been networking and single living for almost ten years. Josh, I’ve never seen the size of someone’s check yet. You know, I just haven’t. Nobody’s shown me their check yet. It’s funny, you know. And so that’s a fundamental difference. OK. So let’s give an example of a social worker. A social worker did not get into the business to be rich. And I know that hurts everybody’s brains. It’s almost all of us are motivated by some sort of money. Right? A social worker, is it? And so how you talk to a social worker is very different than how you talk to the proprietor of a senior living. And so out of the eight different stakeholders that I teach you about, each one has a what’s in it for them. And so you get your foot in the door simply, Josh, by knowing who you’re talking to and what’s in it for them. If you ask the right questions. They’re going to be, Oh, yeah, I have that problem every single day. And Philip is the guy that solves it.

Phillip: That’s what I want them to take away very quickly. I teach Philip is the guy that solves this problem for me. And they deal, like you said, they have 200 families at any given time who could use my service. I teach my students how to ask for the opportunity to go make an offer that same moment you meet. So it’s not I meet you, Josh, and then I’m gonna wait six months to ask for you to return me. I’m saying, hey, I fix this problem right now. Are you working with any families that are going through this right now? The answer is always, Yes, I am. Or they’ll say, Oh, I wish you would’ve met Fred two weeks ago. Hell of a time. Get rid of the house. Right. Got to go. I just called in.

Josh: Yeah. So we got three different stakeholders and he. So there’s eight or 10. But let’s say there’s the there’s the executive or the owner of the facility, which you may never talk to.

Phillip: He’s hard. He’s like a unicorn. Yeah.

Josh: You may never talk to him. The guy’s never around. You’ve got the director of the facility who’s basically like the general manager, and everybody kind of works underneath them. But the maintenance staff, the nurses, the nurse, the STNAs, the intake, the you know, everybody works for them. Their job is really care for the staff, care for the residents who stay there and make money for the owner. Right. So they’re feeling pressure from all three. And then you’ve got potentially the like you said, the social worker or the person who’s assigned to that file, that case that works maybe for the hospital or works maybe for the government, you know, whatever their situation would be, if it’s Medicare, Medicaid, all those different things. But so let’s put the unicorn aside the owner, because that guy or gal is probably not ever even on sight unless it’s a financial meeting to see how the building’s performing. But you’ve got that general manager type person, maybe director level type person, and then you’ve got the social worker who’s kind of  more on the maybe the insurance side of things. Or that’s working for the facility to get money for. So help those two folks. Let’s talk about them. What’s in it for them to work with a guy like Phil?

Phillip: Sure. So let’s start with the director. I liken them to like a school principal. They’re working with 140 families and everybody has needs. And they’re you know, they got to know where everybody and whether they’re like you said, they’ve got the proprietor in their ear about the money. They’ve got the families about mom’s care. You know, they’re getting it from all angles and they’re probably the hardest, one of the hardest working people in in that industry. This sentence I’m gonna say next, is worth one hundred thousand dollars. So everybody perk up. You hear this?

Josh: Get out your pen and write this down here. Here it comes.

Phillip: Do you ever have a situation where they want to move mom and but they can’t until they get the house sold?

Josh: There you go. Do you ever have a situation where they want to move mom in, but can’t until they get the house sold? Cha-ching. 100 grand.

Phillip: They’re going to laugh. They’re going to say, Phil, yeah. Every single day. That’s the problem we have. I say, oh, really? I said, are you working with any families that are going through that right now? You know, I just met this person. Right. And I’m already like, boom, boom. Well, look away.

Phillip: And by the way, if you ever do get a proprietor, the thing about them is they’re the most closest to the multi-family investor or the real estate investor. You can actually have a money conversation with the proprietor. You would never have that conversation with the social worker, right? It’s care, care, care and in more care for them. Right. You know, they if you make twelve dollars an hour, you can do other things that make you a lot more money. They’re in that business because they care. Right. No doubt. I love social workers. OK. So the directors, how you have that conversation with them is they can very quickly understand that if I had months under the front end of a customer that only last twenty eight months on average, any way that I’ve made them more profitable with clients they already have walking through the door. Nice. And I made all of that easier on their families. And if I help with the stuff, I’ll give you a great example. The day I found the biggest respect for a director was when it was a hot summer. I’m in St. Louis. We have crazy humidity here is gross in the summertime, right? Yeah.

Phillip: She was wearing her pantsuit jet makeup on. She had pantyhose and she was going from the second story condo with boxes down to the dumpster. She was doing whatever it took to get that woman ready to move into her community. And she was arguing with her. She had twenty-seven canes and seven birdcages. Twenty-seven canes and seven birdcages. And she was it was getting a little, you know, she had to get a job. She’s saying you’re moving from a sixteen hundred square foot condo to a twelve by twelve room. We don’t have room for twenty-seven games. And she said, can you pick your three favorite games? And can you pick one birdcage? Yeah. Wow. Anyway, I think if I make out all over the place and I’m just like I didn’t know that was in her job description to be a psychiatrist mover. And I’m like, OK. And so guess what, Josh?

Phillip: When she sees Phillips show up because she was there, she invited me to come make an offer on the house because she knew the house was never gonna be retail ready. I told her, I said, you can stop moving this stuff out. You tell me what goes and what stays, and I’ll take care of the rest of it. I just looked at a way off. This person had already left the school principal busy. She doesn’t want to be a mover. Yeah, right. So I write her and I you know, I had this respect for her so that other while I didn’t realize how much effort you put in to get your clients there, I. We mom’s house makes the industry go smoother. We that each paint on top of the stuff.

Josh:So Phil, in this environment with COVID, you’re not going to knocking on the front door. Are you finding a way to research and find out who the director is, who the social worker is, who the employees are, who the managers are, and kind of cold calling into that facility or? Again, back to getting in the door. Right.

Phillip: Yeah, I know there’s networking events that happen every single day. You’ve networking events. You can network every day and sing your living if you wanted to.

Josh: Yeah. My buddy Jake is a huge commercial insurance broker for one of the big shops in downtown Cleveland, and that’s his niche is senior living. And he seems like he’s at a networking event, a golf outing, some sort of function, some sort of lunch, breakfast, dinner, probably three days a week.

Phillip: Perfect. And Josh, that’s it. There he is, building relationships that are sustainable and ongoing from now on by going out and golfing and having lunch.

Josh: Yeah. Yeah.

Phillip: Hey, that’s a man of my heart right there. That’s what I do, too. Like, I’m at top golf all the time.

Josh: Eat, golf and make offers. I love it. Yeah. It’s relationships. Right.

Phillip: That they’re gonna refer to people they trust. I know. There’s that Phil guy again. And then what, what happens is when you’re not the hero in your own story. When that placement agent says that that’s a record. Oh yeah. I use Phil because he helped my father. Oh, my goodness. You know, game over. And as I’m saying, I don’t want you to build. If you build 20 relationships, which is not a lot, I find it funny when people say I can’t network, I don’t want to network. And they say, you ever buy houses from wholesalers? Like, yeah, all the time. Like do you ever buy houses from realtors? Yeah, all the time. When I said, where did you meet those people. Oh I was out at a fill in the blank but I’m like, oh my God, you’re networking already people. It’s just with the wrong people.

Josh: The interesting thing about this to Phil is I’ve been to some of these events with my buddy Jake. Have sponsored some and he supports a thing called The Hunger Network. And I go to that. But there’s a lot of the senior living owners, directors that go support the Hunger Network. And there’s no real estate investors there. Like that’s like that’s an out of the box thing. So there’s insurance guys. There’s, you know, accountants, attorneys. There’s, you know, business owners who are just supporting that type of cause, because obviously the owners, the managers, those types of people, builders, developers who develop senior living, they’re all there. But to have a residential investor, you know, guys buying, you know, one to four-unit houses or even small apartments, I can’t ever remember a time when somebody was there doing that. Never. And I’ve been to dozens of these events.

Phillip: I’m in the blue ocean. Josh, I’ve been doing this since 2011.I feel like I’m the OG in this. Like, this was hot. Hey, it’s been so good to me. I’ve been keeping it a secret. I didn’t want anybody else in St. Louis to do this. That’s how good it is. And so now building this nationwide thing, now I’m out here on this podcast telling everybody about it because it’s like, this is magic. You know, if you don’t want to be tied to your last direct mail campaign anymore, if you want to build something sustainable, it’s not sexy. That is recession proof. That’s what I’m telling you go gotta do.

Josh: The mom’s house OG. I like it. So, Phil, how do you get started? Like you said, 2011, I don’t know what your background was before that, but what was your first real estate deal like? And then how did you pivot into this senior assisted living sort of niche?

Phillip: Sure. I did this business backwards. I started off in development and new construction when I was 20 years old. I’m forty-two now, so twenty-two years in the business. And as a builder, I realized I’m not a very good adult babysitter and that’s what I call general contracting. And so I didn’t like that business. I realized very quickly that I just wanted to do design. I just wanted to be a designer. So I’d go through all the trouble of being a builder just to get to pick out the flooring and the colors. And so thejourney of new construction takes, you know, good from start to finish easily a year. And, you know, you deal with municipalities and they’re a pain in the butt. And just contractors. And it was not fulfilling. And so I worked from development back to wholesaling.

Phillip: And I think a lot of people listening right now are like, I want to be a wholesaler and then work into flips and rentals, into development. I’m going maybe not. You know, and so in my curiosity, I was the year 2000. We’re talking about here, or ’99. So, you know, things were great. 2000-2006, ’07 ’08. I got my first million dollars spec in 2007. Lost a crap ton of money. Yeah. You know, was I smart or dumb? I don’t know the world proved me to be pretty dumb that year. But, you know, I keep you know, I subscribe to the model. I get knocked down eight, get up nine times.

Josh: Yeah. You know what I like about what you just said. So not to interrupt you, but if think what you just said was very powerful. So I want to point this out to our listeners that you said the world proved to be very dumb that year. That was key. That that year comment, because I think so many people of any type of entrepreneurship, real estate investing is obviously a form of that. You’re gonna get your knees sort of knocked out from underneath you at times. That’s definitely happened to me. And again, you kind of compartmentalize it by saying that happened. That happened in that six months or that year. It didn’t stop me from pursuing my dreams of financial freedom through real estate. It was just a learning lesson. Joseph McAlinden, you know, Tony Robbins partner, says there’s only there’s no winners and losers, only winners and learners. It’s great to hear you say I learned that year the world proven to be dumb that year, not forever. I think many people, they have one negative impact. It affects them the rest of their life. So I really appreciate you saying that. It just wanted to point that up.

Phillip: Well, thank you. And I really believe that way. And you know, one I’m going to say a good thing about it is that I think everyone’s looking at her life right now. I’m going, what am I doing with my life? Yeah, no doubt. Because we’ve been able to sit back and reflect and go, is this what we’re doing here with my life? You know, people want to change right now. And there’s a million investors out there right now because the market’s been frothy for a good decade. And, you know, and we’re in the weirdest time in my 22 years. How can the market be the hottest I’ve ever seen it? And the sky is falling. Which one is it? And I think November 4th, we’re going to find out more. I don’t know if it’s going to affect it one way or the other. I think as investors, we all try to see around the corner a little bit. We’re all trying to do that, you know, with me. I know no matter who’s in office, people will still continue to age and my service will be needed.

Phillip:So when did you feel when you do your first sort of senior deal, like you started out as a developer, got into wholesaling. You did build that big spec home. When did the senior niche kind of take hold?

Phillip: Well, talking about me I mean, I was a wholesaler before I knew what that term even was. I used to drive up and down neighborhoods and look for the dilapidated house. And I would knock on the door. I would knock on the neighbor’s door and I would look for them and find them. So I was a wholesaler before I even knew what it was. And I went to work for a company in St. Louis. That’s as far as littleguys go. It’s one of the biggest. We do a couple hundred houses a year, and I always look for the stereotype. I look. What’s the stereotypical seller look like? Is it a 28-year-old or an 82 year old? Is it someone that’s lived there two years or 40 years? Right. In our world, it’s obvious where, you know, it’s obvious where our best deals come from. It’s not somebody that’s in their 40s. If somebody is in the 60s, 70s, 80s. Right. And so we told that generic story that dad passed away years ago. Mom’s been doing the best she can on a fixed income mom fell again.

Phillip: This is, by the way, when you told that story earlier, I was like, oh, man, that’s my exact prayer. I say, this mom fell again. She just had surgery. The doctor said that she can’t move back home. Now the adult children are scrambling. And I work with the people that have the ear of that family. To me, that process as easy as possible. They’re looking, man. They need some they need some help. They need some wins. And if you what I’m looking for is the best of the best. I don’t need a warm body in every city. Josh, I need someone who cares, has empathy. We’ll take the training to go out and build relationships in a world that’s very different than real estate. And you get to wear your cape and you get hugs and kids. I mean, it’s a great I get. I’m proud of what I do. Right. I love Belmont and who I help.

Phillip: And the money is the easy part. Right. If you have less competition and are teed up, I always like to say this. Imagine the mailman coming to your house and saying, call. Call Josh. Call this one postcard. Don’t call these other thirty-seven. How great that would be. This is even more powerful than that because it’s not the postman saying that. It’s the person you’ve trusted with your mom’s end-of-life care. Oh my. That’s way more important than the postman. That’s kind of what’s happening. They’re saying call Philip. He’s the guy who’s nice.

Josh: So, Phil, what advice would you give? Now that you’ve seen this, you know, the market, the momentum it’s built, it’s frothy, 10 years, election. You know, your experience, 22 years senior assisted living in senior care is your niche. You’ve obviously learned a lot. You’ve experienced a lot. You’ve coached your students both locally and in St. Louis and now nationwide. What specific advice would you give our listeners? Let’s say in the next three to six months, what can they do based on what you’ve learned? What would you pass along to them or what advice would you give your younger former self? Things maybe that you’d do differently or do sooner.

Phillip: Pick your lane and stay in your lane. Every new investor tries something once they don’t get the results they want and they go to the next shiny object. I don’t care which one you pick it. Direct mail call. If it’s a mess. Text messaging. Cool. Just stick in your lane. Learn it. Know all the nuances and get good at it. The new investors always are notorious. I’ve got a buddy that has like ten thousand accounts for direct mail for real estate investors. He said 90 percent of the time they do one mailing and stop. Yeah. Don’t even get started. If your goal is not to do it, don’t even do it. You’re wasting your money. And so I think as young investors, we’re all looking for the magic bullet. Everybody wants to work less. Right? Even me. And you knew how little I like to work. Every, you know, people would they would really love it if they knew how little I like to work. And the reason why, I’ve had one bumper sticker in my whole life that it said will work for hundreds of thousands of dollars.

Phillip: And here, my funny bone. Right. Because I was working. Josh, I don’t mind working, but I want to know that I’m building something towards the future. Yes. And building, really. And soI was going to say, when I say, pick your lane, you’re going to build relationships. Are you doing it with the right people? You’re going to spend money on marketing. Are you doing it the right way? You know, pick your lane and stay in it. And all of it can work. Good. One hundred ways to find houses, right? Just whatever one you pick. Stay in that lane and give it a year. Don’t say one, Mei-Ling. And it’s done. You know, you don’t plan to. You know, I always judge people, too, on the thickness of their business card. You ever meet a new investor that is made out of paper? You, like, spend the extra 20 bucks and get some cards? That’s what I want to.

Phillip: If your card is made of paper lightweight, I feel like you already know you don’t want to be in this business in three months. Right. You know, maybe that’s bad, but it’s like, come on now. And I use a lot of credibility packets and I act as if. You know, if you have empathy, I can work with you, right, if you have the wherewithal to go out and I would say to make omelets, you’ve got to break some eggs. Right. And that’s the difference. Even when I got knocked down in oh eight without house. I didn’t think I’m going to get out of real estate. I thought, man, I maybe I shouldn’t build a million dollars spec when the market spread. I mean, I learned. Right. And so the best thing about real estate.

Phillip: I love it when a new investor says, I did my first deal. I thought I was going to make 50 grand and I only made five. I’m like, oh, isn’t that great? And they’re like, what do you mean? I said, You got in a business where you had a great education, you learned on the job and you still made five grand. Yes. Tell me what other college pays you five grand to go to their college? I mean, it’s I mean, really the best business in the world. I you look at every billionaire, like 90 percent of the time. Real estate’s in there.

Josh: You either made it or they hold it in real estate. Absolutely right. Fantastic stuff. Well, listen, I know there’s a lot of people they got to love this idea. Residential investors looking for a new way, a new niche, a new lane to get in to kind of differentiate themselves if they want more information about you. Sign up for your program, your coaching. Learn more about you podcast, your Web site. Where can they get more information about you and your business?

Phillip: MomsHoues.com.

Josh: MomsHouse.com. Simple as that. Fantastic stuff today. Phil, listen, thank you so much for joining us today on Accelerated Investor. I have an absolute blast doing this interview with you.

Phillip: Thank you. I appreciate you having me on.

Josh: So, hey, guys, listen, I hope you really loved that episode with Phillip Vincent, MomsHouse.com. Listen, I’m great time interviewing Phil and learning about his strategy. I think it’s something you can, you know, you can implement into your business right away just from this podcast. You know, obviously, Phil’s got a lot more information is on training and coaching programs. If you want to learn more and follow up with Phil, do that at MomsHouse.com. But if you enjoyed this interview, share it on social media. Share it on Facebook. Share it with your audience. Share it with your email list. Tell them about it and go ahead and go back to YouTube and i-tunes and leave us a five-star rating in review. We’ll send you one of these kickass Accelerated Investor T-shirts when you do take a little screenshot and send it to us. I really hope you enjoyed this interview. And I just want to thank you. Let you know that I’m so grateful that you’re sharing with me, sharing your time with me, whether you’re in the gym, on the walk, in the car, wherever you’re at. Thanks for taking a few minutes to spend time with me and accelerate investor. Take care and we’ll talk to you soon. 

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