Chad Duval:
… exactly what you just said. You see, when I got into real estate… The one reason it took me so long to get into it is because I thought I needed a bunch of money. I thought I had to have all this money to be able to get into real estate. “Well, I can’t get into real estate if I don’t have money.”
Chad Duval:
Well, it’s not about your actual resources. It’s about how resourceful you can be. Here’s some tips. If you’re brand new, you’re just getting into real estate and you’re wondering, “Well, how am I going to do this,” well-
Speaker 1:
This is Start FM. Now, here’s your host, active real estate investor and enterprise Chad Duval.
Chad Duval:
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Chad Duval:
Hey, guys. I ask this question on almost every episode. How do you get started in real estate? I ask it to almost every guest. The most common answer is to try and get a house hack. If you’re a fan of the show you know that I like to refer to house hacking as real estate with training wheels. It’s a great way to get into real estate with a low down payment, and basically live for free.
Chad Duval:
Everything sounds awesome, but while you guys are busy, especially now with everything going on in the world… Everybody knows you can spend hours, and hours searching for info in multiple places, and listen to podcasts. Most people just don’t have that time.
Chad Duval:
Most people try and [inaudible 00:03:14] juggle the kids right now, especially transitioning, working from home because of COVID. Just trying to keep track of everything; eating, exercise. I know it’s a struggle. I struggle with them too almost every day. That’s why I reached out to my friends over at House Hacking Success. Drew and Brad. They’re awesome guys over there, and they become like the go-to resource online for everything house hacking.
Chad Duval:
Yeah. I reached out to them this week to try and get you guys a discount on any of their courses that they have over there. They were kind enough to give you guys 10% off anything on their website. They do have a lot of free resources.
Chad Duval:
They have a free ebook, and a podcast. But they also have a course that puts everything you need to know about house hacking into a 42 episode course, all video content, which is really awesome. Because if you decide to have something on in the background while you’re doing your nine to five at home, and you just pop in one video, or a couple videos on your TV in the background…
Chad Duval:
I know I do that every day with a bunch of other resources that I use to continually sharpen my knowledge in the real estate game. Yeah. Head over to househackingsuccess.com. Use the discount code startfm, and you’ll definitely get 10% off anything on the site if you decide to buy.
Chad Duval:
Again, there is plenty of free resources on there. Their podcast is awesome. I was just recently on it, and they’re going to be on next week’s episode as well too. I hope this helps you guys. Use discount code startfm, get 10% off now, and enjoy the show. (silence) All right, Chris Naugle, how are you?
Chris Naugle:
I’m doing wonderful. And yourself?
Chad Duval:
Not too bad man. Not too bad. Just trying to get back from this Labor Day weekend. I don’t know. You’re out in New York. I don’t know how the weather is up there, but it’s been a beautiful couple days so it’s making it a little bit difficult to get back into things.
Chris Naugle:
Weather will do that.
Chad Duval:
Yeah. Absolutely. Absolutely. For anybody who’s not listening, and who hasn’t heard about Chris Naugle, why don’t you give a little intro and let everybody who you are?
Chris Naugle:
Absolutely. Just an average guy. Grew up with a big dream of being a big pro snowboarder, and ended up… Well, I’m from Buffalo, New York, so Buffalo, New York is not the mecca for snowboarding just in case anyone was wondering. That was a tough challenge, and-
Chad Duval:
Lots of snowstorms though.
Chris Naugle:
Well, listen. We have no lack of snow. We just have a lack of-
Chad Duval:
Lack of mountains.
Chris Naugle:
… lack of mountains.
Chad Duval:
Yeah. Absolutely.
Chris Naugle:
But we have really good snowboard parks, and I was a big freestyle snowboarder and skateboard kid. That was my big dream. By the time I entered the workforce I had just been a kid that kind of grew up without things, without money, in a very, very, lower, lower middle class family so I just always hustled. I just did whatever it took.
Chris Naugle:
My mom taught me some really important things about thoughts, and how your thoughts are things, and if you want something you should draw it, so I was big at drawing things. Everything I ever did pretty much my whole life has always materialized as a dream first. Then I took those ideas, and those thoughts, and I put them on paper, which is why I draw so much, and I visualize them.
Chris Naugle:
I visualize myself doing it, and actually the act of doing it, the point where I have these lucid dreams that basically are me doing that thing I think about all the time. Now, that can be said for skateboarding, for snowboarding. Surfing was the biggest one I ever did, and just so many other things.
Chris Naugle:
That’s how I grew up. At a young age… I became an entrepreneur at 16. Hated working for other people. I had a terrible job at a restaurant, and they treated me like crap, so came home and said, “Mom, I’m going to open a clothing line in the basement. It’s going to be called Phat Clothing Company,” P-H-A-T, “And yeah, any support you can give me would be great. Thanks mom.”
Chris Naugle:
My mom started becoming my seamstress, and she sewed a lot of the clothes. Well, that kind of escalated and became the clothing line that I was selling while I was snowboarding. It turned into my own chain of skateboard, snowboard shops by the time I was 17 almost 18, and faced us with a really hard realization that this dream of having these skateboard shops came with a price tag of about 70,000 bucks.
Chris Naugle:
I didn’t have 70 grand. I had a 1986 Buick. I had a baseball card collection. I think I had a KX 125 in the garage. That was about it. Before my dream almost ended because everybody told me no my mom said, “I never chased my dreams, and I don’t want you to not live yours, so I’m going to put the house,” the only thing she had in the world, “On the line,” so that her crazy 17 year old punk snowboard kid could chase his dream. Phatman Boardshop was born. That was 1994, showing how old I’m getting now, and-
Chad Duval:
Well, that’s great. Were you doing this all while going to high school and everything like that?
Chris Naugle:
Yeah. Yeah.
Chad Duval:
[crosstalk 00:08:16]-
Chris Naugle:
Listen, the clothing line was founded while I was in high school. Actually the reason it was a success, and I printed my first dozen shirts with my art teacher Mr. Maholsky after school. I had my friend Chris Krenshaw who was my skateboard buddy, he drew all the pictures with me. That’s how it all began.
Chris Naugle:
I would sell my clothes to my friends in school, and then they would tell somebody. Then I’d have them selling hats. I created this little infrastructure in school. I don’t think you can do that anymore. I don’t think they allow that, but back then-
Chad Duval:
I know. I don’t think you can, but yeah that’s-
Chris Naugle:
That’s just a shame man. I mean, I remember the days of selling Jolly Ranchers. You’d go and buy them for a penny, sell them for a nickel. But anyway, that’s where it started. Then college was… I did go to college for a few short years, two years, and college was really all about… I had this clothing line in this store.
Chris Naugle:
I was in college thinking, “All right, well if I’m here I might as well learn things while I’m in college that apply to what I’m doing,” so I took economics. I took business math. I took accounting, lots of accounting and bookkeeping classes, and anything that related to my business is what I did. I got in really good with one of the teachers, and he ended up introducing me to the small business development center which was very influential in teaching me about business plans, and just how to actually run a business, how to create books and everything else.
Chris Naugle:
Because once you start a business, especially at a young age like that, you’re not thinking about, “Well, what is accounting? I got to do books. I got to get all this stuff done,” but as funny as it is that’s how I did start it. I literally knew how to do the books because my teachers took me kind of under their wing and taught me that, so when I had the store, and I had the clothing line, I had the set of books. I had all that, so it was kind of a weird thing, but I ended up doing that.
Chris Naugle:
I’m not going to spend too much more time there, but I ran those stores all the way up until 2010 when I ended up selling them. I did become a pro snowboarder riding the circuits, X Games, all that good stuff. It was the greatest years of my life, and I had a lot of hard times, lot of injuries. My stores in the early 2000s, the dot com crash… We had four stores and we had to consolidate because I just couldn’t afford to keep them going.
Chris Naugle:
I was highly leveraged. That leads to an interesting part of my life. I always said I was never going to work for anybody because of that first job experience, and I hated it. Here I am in early 2000s. The planes just hit the tower. My business is crashing. Can’t afford things. I literally had to go get a job.
Chris Naugle:
I said to myself, “I’m either going to deliver pizzas…” I kid you not, I literally went around and put in applications for delivering pizza for Little Caesar’s pizza. True story. Then I guess that wasn’t my path. I got a call from these financial companies. They seemed to really like entrepreneurs, and I ended up landing in the financial world.
Chris Naugle:
Instead of it being a part time thing like I thought it was going to be I ended up loving it. I became one of the top advisors at all the firms that i was at during those early years. That was the early 2000s. I was still running my stores. I was still snowboarding, still skateboarding a lot. I actually had a skate park that I had opened at that point. Here I am wearing a suit all day long, and helping people with money, and the traditional stocks, bonds, mutual funds.
Chris Naugle:
That’s what I did all the way up until 2008 when I was crushing it. I was one of the top advisors making a ton of money. I had flipped two houses up to this point, and they weren’t very good flips, but I did it. 2008 I got my next big idea to remodel this giant, dilapidated paint store into a strip mall, because my lease was coming due and I wanted to move my store.
Chris Naugle:
I borrowed money from the wrong person. I call him Knuckles, and that’s how Phatman the strip mall got open. Syndicated Development was formed. I almost went bankrupt, because you know what happened in 2008. The market crashed, and I went down with the market. Literally I might as well have just jumped headfirst off of a cliff.
Chris Naugle:
I was 340, or 360 grand in debt to this guy, plus all the credit cards and all the other debts, and financial advisory business went to zero. My retail stores dropped 30% overnight, and here I was not able to pay the bills, and two payments away from being completely bankrupt to this hard money lender that I call Knuckles. You guys can figure out why he was called Knuckles.
Chris Naugle:
I think if I didn’t pay him it wouldn’t have just been the strip mall he took back. I don’t know what else might have happened, but my fingers might look a little different today. But that wasn’t what happened. See, I came home, my girlfriend just moved into my house, and I said to her, I said, “Listen. I need your help. I need your help paying the mortgage. I need your help paying the utilities. And my friend Pete’s going to move into that bedroom right down there in my house, and my friend Jessica’s got to move into the bedroom upstairs.”
Chris Naugle:
“I’m sorry, but I can’t make it.” I swear I thought… I remember this day vividly. She was like, that bombshell girlfriend that you didn’t want to lose but you’re just like, “Well, let’s see if she’s a sticker.” It’s like throwing something against a wall and seeing if it sticks. I thought she was going to walk out the door, but she didn’t. She stuck with me. She’s now been my wife for many, many years.
Chris Naugle:
We got our first daughter who’s three and a half months old, and that got me through ’08. But then I dove right back in, 2009 to ’14, more real estate. Started buying more and more real estate. Got up to 36 units by 2014. I had sold the strip mall, still doing the snowboarding. I thought I was there. Then all the sudden the bank pulled the wool from underneath me.
Chris Naugle:
They called my mortgages. They froze my lines of credit because my debt to income ratio didn’t line up with their little square box, and I lost it all again in 2014, was living paycheck to paycheck, me and the girlfriend… Well, she was my fiance then. We actually did split, because things got so hard. We had to sell our dream house.
Chris Naugle:
I literally remember this. I didn’t know how I was going to afford things. I moved into one of my apartment complexes that I had before I ended up having to sell that one too, and just went to Thailand for a month to find myself. That was like the most pivotal time. At that point I did find myself, and I ended up finding some mentors, and started learning what the wealthy do with money.
Chris Naugle:
I could go on and on, but I’m just going to cut it off there. That was ’14. ’14 until now my whole life has been following around multimillionaires and billionaires asking the right questions, finding out how the wealthy use money different than the rest of us, and learning these patterns and these secrets of the wealthy.
Chris Naugle:
Then that led me to, in 2018, retiring from the financial world. I sold my practice, and me and my wife got a TV show on HGTV called Risky Builders. Yeah. It’s just been a wild ride man, a wild ride.
Chad Duval:
Yeah. There’s so many things to unpack there, but the most important question is, do you ride goofy or regular?
Chris Naugle:
Goofy, but I ride switch just as well as I do regular, but goofy… I am a goofy kind of dude man.
Chad Duval:
I hear you. I hear you. Yeah, no… I mean we can go back into… It seems like a very common… Well, your path is not common but there are some similarities to a lot of people who started real estate. I want to go back to, and unpack those first two real estate flips that you did.
Chad Duval:
You said that you didn’t make any money on that. That’s typical, at least in my experience and a lot of other people I talk to. You never make money in your first couple deals. Can you walk us through? Do you have possibly any numbers, or idea of what happened and that sort of thing for those?
Chris Naugle:
Yeah. The first flip, I mean it was out in Gasport. I’ll never forget it. Me and my best friend Mike did it. I was so green, I didn’t even know that the bank… I got it from a realtor. It was a good deal, and got it for a great price. I think we got it for like… What’d we pay for that, 40 grand let’s say?
Chris Naugle:
I took the deal to the bank, and no remember, the only bank deal I’d ever done at that point was my primary house. If you know anything about buying a primary house, you can do an FHA loan and only have to come out of pocket 5%. In my mind I’m thinking, buying this flip I only need 5% plus rehab. I had all the numbers figured out. I’m like, “I got X amount in my 401k I can take loans from. I got X amount in my whole life policies I can take loans from, and I got a little bit of money in the bank.”
Chris Naugle:
Then all the sudden the bank gives me the commitment letter. I literally held this thing, and I flipped it upside down. I’m like, “Something is wrong guys,” like, “Hey, this number is not right. See that down payment number? That’s way off guys. You need to check your numbers.”
Chris Naugle:
They’re like, “No, sir. This isn’t your primary residence. This is a non-owner occupied mortgage.” I’m like, “And?” “Well, we only lend 80%.” I’m like, “Oh.” I had to get resourceful, and I had to find that money. It came from my 401k and my life insurance policies. But I got into it, and where I screwed up is…
Chris Naugle:
You guys watch all the shows, and demo day is the most fun day, but demo day can get way out of hand. I went in there, me and Mike, with our sledgehammers, and we demoed her man. We took her down.
Chad Duval:
Way over rehab.
Chris Naugle:
We took her way down. I remember when the dust settled I looked at Mike and I’m like, “Dude that was fun, but you know how to put this together right? Because I don’t know how to hang drywall.” He’s like, “No, but your cousin Dave does,” so it became a family affair. We muscled ourself through that thing. I’ll never forget.
Chris Naugle:
We ran out of money so many times. I was supposed to make like 35 grand on this house. Long story short, we got it done. I was there every single day it seemed. We got it done, and we couldn’t sell it. We couldn’t get the money we wanted so we ended up renting it to my friend Bob. You see, there’s all these friends. Your friends always bail you out.
Chris Naugle:
My friend Bob rented it for a year, and then we ended up, after he moved out we sold it, and we made eight grand, plus whatever we made in rent. That eight grand might just as well have been 80 grand, because it told me I could do this. I can actually do this.
Chris Naugle:
The next one I actually did a little smarter. I hired contractors, and we got through that one, but gosh, I think my portion of that one… Because I didn’t fund that one. My business partner in the advisory world, he put all the money out. But I remember… Gosh, what did we make, three grand each on that one? I didn’t lose, but I didn’t really make. I was just like, “Ah, that wasn’t really worth the time,” but I still loved it. Loved it.
Chad Duval:
Now what was the reason for you getting into doing these flips? Were you just trying to find more ways to diversify your income and that sort of thing, or was that around the time when HGTV was starting to really pop off, and everybody started getting the bug to start flipping houses, and renting houses out?
Chris Naugle:
You know, that’s a great question. No one ever asks me this. Actually, a TV show was kind of what gave me the bug, because I think it was Property Wars back there was the show. It wasn’t on HGTV, but I watched Property Wars and I’m like, “Wow, 23 minutes you can flip a house,” but that was kind of like the idea. That was the glorified version.
Chris Naugle:
But I’ll tell you why I did it is every wealthy client that I had as a financial advisor, all of my wealthiest clients, they were all in real estate. This guy owned rentals. This guy was the developer. They all had real estate, so I’m like, “All right, well if these guys are the wealthiest clients I have, and they’re in real estate, and they seem to be living pretty good lives, I like his car, I’m going to get into real estate.”
Chris Naugle:
Again, you can go back pretty far and you start seeing all I ever did my whole life is mimic the successful people. Terje Hakonson in snowboarding, whether it was Tony Hawk, or any of the people that you can look at I just mimicked what they did and tried to do it. Same thing when it came to looking at real estate.
Chris Naugle:
I’m like, “Well, that’s what these guys are doing. They’re smarter than I am.” Yeah. I was an influential kid. I just liked to mimic what other people did instead of reinventing the wheel.
Chad Duval:
Right. I don’t think there’s anything wrong with that, especially with real estate. I mean there are some very tried and true. There’s a lot of boring aspects of real estate, but there’s also a little bit more of that flash in the pan stuff. Yeah. It’s just finding your niche in real estate. Fast forward to today. What sort of things are you doing in real estate? Are you doing more flips and stuff, or are you doing rentals?
Chris Naugle:
Yeah. It’s interesting. It’s kind of boring to talk about today because I’m not doing a whole lot of much of anything outside of money. That’s my big thing, is I teach people how money really works. Like we close on a deal on the 10th, so that’s in two days from today. It’s a flip we’ve been waiting for for seven months. it’s a slam dunk.
Chris Naugle:
We got it for 152. It’s worth like 400. But I probably will do nothing with it. I’ll probably close on it because we’ve got the money to close. I’ll probably have my crew in there clean it out, maybe do a few drywall touch ups, and I’ll put it back on the market. The market’s too high right now for me to really be looking for deals.
Chris Naugle:
The market’s so hot that everybody wants this deal, so why not give it to them and make the quick dollar? It’s very different than the way we used to, because back when we had our show I mean we were doing about 20 to 25 flips a month, and I remember we were buried… Flipping, it looks luxurious, and glorified on TV but you have to understand. It is one of the worst things to really do as a sole practice because it’s so labor intensive.
Chris Naugle:
So many things can go wrong, and it’s a cash flow nightmare. That’s how I ended up doing wholesaling. It was out of pure necessity. We were flipping so many houses we didn’t have money to pay our normal bill, so I started wholesaling some of the houses we would get, and that was what covered our normal monthly bills.
Chris Naugle:
I remember countless times we had 20 houses going and I’m like, “All right, that wholesale deal, that’s going to get us to the 31st of next month,” because I’ve always been really good with the books, so I always knew exactly how far the dollars would get. If you guys don’t believe that there’s a higher power, well welcome to my world, because I’ll tell you what.
Chris Naugle:
Every month when I thought we were going to go broke, another wholesale deal would close. Then after that I had a mentor who really told me one of the smartest things, and I’m remiss to think that I didn’t think of this myself. He said, “You know, flipping is great and everything, but you’re always going to struggle with cash flow. No matter how many you do, how much you make, you’re always going to be broke.”
Chris Naugle:
He says, “What you need to do is you need to start holding some of these, renting them out.” He designed this spreadsheet for me, and it was genius. Folks, it was so simple. You need to do this. On the top were all the rentals, and the net income was over the far right. The net income, what he said to me is he said, “When this net income is enough money to carry a flip, you can buy another flip. As you add these rentals on here this number over here on the right, when that number is enough to carry another flip you can add another one.”
Chris Naugle:
Well, we just kept taking our flips that we would have flipped and we started renting them. Every one of those gave us like three, to five, sometimes $700 a month net. I was like, all right. 700 a month net will cover the carry cost on another flip, so we’d do another flip. We kept doing this. We got up to 96 rentals from 2014 until whatever. Let’s call it 2018. Then our rentals were really cash flowing, up to 50,000 a month at one point. That’s how we were doing so many flips.
Chad Duval:
Wow.
Chris Naugle:
Without those rentals carrying the load on the flips I never would have made it this far. I mean we’ve done two hundred and sixty some flips. I have no idea how many wholesale deals. I just did one a couple weeks ago. But I mean, today I don’t really focus on real estate. My team does a little bit. But if we find a deal through our sources that we’ve built sure, we’ll take the deal down.
Chris Naugle:
Most the time I’m either going to wholesale it, or I’m going to wholetail it. Very rarely do I ever sit there and think, “Oh my god, I’ve got to flip this house. I got to put a new kitchen in this. I can’t wait to demo this.” Those demo days glories, those ended back in 2000, probably ’07. Yeah, the glory’s gone in that.
Chad Duval:
Yeah. Every successful real estate investor that I’ve seen definitely does exactly what you’re saying, is they’re always skimming off the top and putting it into rentals, and then using that cash flow to keep funding those flips, because you’re right. It’s a never ending cycle if you’re always just looking for that next flip.
Chad Duval:
I feel like realtors get into that sometimes too. It’s like they’re always having to chase that next deal. They never actually get out of that. I like how you described it though. You’re just always using the net income from those rentals to carry your next [crosstalk 00:24:16]-
Chris Naugle:
Yeah. It was one of the smartest things we did, and it was just a simple Excel spreadsheet that everybody should have in real estate. You should have your top is your rentals. Whatever that net number is, that should always support and carry your flips. If it doesn’t, well maybe one of those flips should be a BRRRR.
Chad Duval:
Right. Exactly. Exactly. I want to dive a little bit deep in, because I’m very interested in this topic of your Risky Builders show. How did that all come to fruition? That seems like a very interesting and unique part of your career.
Chris Naugle:
It is, and I never talk about it just because I don’t want to be known as the guy that had the TV show. I want to be known as America’s #1 money mentor, but how it actually happened is me and my wife went through an education program for real estate. We were in Las Vegas at a summit.
Chris Naugle:
I remember two of the TV show stars, I’m not going to name them but they’re very popular, got on the stage. I looked at my wife and I said, “Sweetie, if we’re ever going to get on that stage then we have to have our own show.” Being… Well, at that time I was still… I might have been an ex snowboarder then.
Chris Naugle:
But I filmed a lot of video parts, so I knew what it was like to work with filmers, and video editors, and everything else. I said, “You know what? When we get back…” We came up with this idea that night of what our show would look like. It was going to be like Flip or Flop meets Jackass, because my skate team was going to come in and do the demo, and build ramps through the house with the demoed material.
Chris Naugle:
That was our first sizzles. I hired my friend Kyle to film it all, and I put up, I think about 40 grand over the next year filming these sizzles. Then we got picked up by a producer, because he liked the concept. I sent these sizzle reels out to all the big networks. We got told no buy literally everyone from A&E to, oh God, HGTV.
Chris Naugle:
I can’t even name them all anymore, but Spike. Every one of them said, “No. It’s just way too risky of a topic.” I’m like, “What do you mean? Skateboarding, and flipping, it’s perfect.”
Chad Duval:
It’s a great concept. Yeah.
Chris Naugle:
Yeah. Get me to the winter and we’ll get some toes in here, and we’ll be jumping off these roofs. Anyway, but they didn’t like that so the show didn’t go anywhere. Then I wasn’t willing to quit. I never quit anything. I believe that the only way to fail is to quit, so I was just never willing to quit.
Chris Naugle:
I sent it back out to a bunch of other producers, got one in LA. They picked us up and they basically said, “Okay. We’re going to start from scratch.” I’m like, “Wait a second. What about all this material that I paid 40 grand for?” They’re like, “Throw it in the garbage.” They started from scratch. They found out what the networks wanted, and they literally did exactly what the network asked for.
Chris Naugle:
We started that process in 2016 or ’17? No, 2016. We finally aired in 2018. For anyone that thinks that all you do is you mail your little sizzle real into the network and then all the sudden they pick you up, sorry. Those days are gone. That’s not the way it works. It was literally an unbelievable undertaking to get a show on HGTV.
Chad Duval:
Yeah. I definitely think that having a TV show is still very credible, but it definitely seems like the direction of most things is more of an online internet based shows and podcasts. I’m sure you know all that now so it’s kind of funny, but I’ve always wanted to know what it was like to get your own show, or get behind the scenes of something like that, because I don’t know. It’s always, I guess sizzle right there.
Chris Naugle:
It was awesome. I got to tell you it was a ton of fun. It was a unbelievable amount of work. When you flip a house you go in and you kind of know what you got to do. But then when you got a film crew there waiting they’re like, “Wait. No. No. Don’t push that wall yet.” Then they re-change the cameras and it’s just like, your crews are-
Chad Duval:
Oh, man.
Chris Naugle:
… sitting around. Oh, yeah. Oh, and then-
Chad Duval:
[crosstalk 00:28:03].
Chris Naugle:
… they want this done, and that done. [inaudible 00:28:05] like, “You do realize it’s going to cost like five grand for that piece of granite to do that second island? Are you guys going to pay for that?” And actually it ended up, they did. But it was just, I don’t know… So many things happened. That flip took about six months longer than it should’ve because we were constantly doing things to make it better for the network.
Chris Naugle:
It was a ton of fun. It was an amazing experience. Obviously it opened a ton of doors for us, but it was really just one little small stepping stone in my life. It was jut like, cross that one off. But again, folks, I want you to understand something. I didn’t come from anything. I’m no different than anyone else listening to this.
Chris Naugle:
All I ever did different than most people that don’t get the show, or don’t become a pro snowboarder, is dreamed that I could. That TV show, I wasn’t going to stop until I got it. It didn’t matter how many times I got told no. I wasn’t going to stop until I got a yes. I just kept pushing and I never quit, and I got it because thoughts are things. I could just say that over and over.
Chris Naugle:
I know some of you are like, “Oh, here we go. The secret.” No. No. No. Screw the secret. But there’s a lot to be said about that. If you give up on yourself and your dreams, then literally you just quit, and quitting isn’t an option.
Chad Duval:
Absolutely. Absolutely. I’m a huge proponent in, yeah, not technically the secret, but definitely putting out that energy because the powers that be definitely seem to always send you things that you’re thinking about, or constantly thinking about or working towards. You never know how it’s going to happen, but for sure. For sure.
Chris Naugle:
You’re absolutely right. Well, it’s a law. It’s physically a law, no different than gravity or the Newton’s law. It has mathematically been proven that it is an actual law of physics, or whatever you want to call it. Once you put it in that perspective you’re like, “Wait, so all I need to do is think, and focus, and constantly rethink about this one thing that I want, and if I think about it long enough, and I dream about it long enough, it will happen?”
Chris Naugle:
That sounds fairy tail-ish. It sounds too good to be true, but you know what folks? Hey, listen. I’m living proof and I don’t have anything that any of you didn’t have. It’s, just try it. Try it [crosstalk 00:30:12].
Chad Duval:
Right. Right. Yeah. That dovetails into America’s number one money mentor.
Chris Naugle:
Bingo.
Chad Duval:
You doing that, and you’re developing yourself and your team, and your business, and that sort of thing. As you were saying earlier in the show, that you try to mimic a lot of people that are wealthy. Now that you’ve been doing this for so long, you had mentioned that the wealthy handle money different. I wanted to know if there was any kind of key takeaways for the audience that you could tell people that might help them change their perspective on A, money, and what the wealthy are typically doing different that the average American is not privy to or aware of?
Chris Naugle:
Oh, that’s a great question Chad, and one that I think is… I’m going to simplify it. The answer is 100% they do something different. It’s a lot of mindset, but here’s what it is. There’s more than just this, but the wealthy understand that number one, they must be in control of their money. But every one of us our entire lives, and I know this because I was an advisor and I taught people to do this, we are taught and trained, and conditioned, to give up control of our money.
Chris Naugle:
Think about what we are taught to do with our money. We’re taught to put our money in banks, and leave it sit there so that the bank can then use our money to make 400% to 1,300%. But then when we need money what do we do? We go back to that same bank and we borrow money back at a much higher interest rate.
Chris Naugle:
What else do we do? We put our money in employer sponsored retirement plans: 401ks. 403bs. 457s. We’re literally giving up our good dollars today to be paid back with weaker dollars later. Because the one thing the wealthy understand is that their current dollars, they are the most valuable dollars they will ever have because…
Chris Naugle:
If you don’t think your dollars are worth more now than they will be in the future, well then take a trip back in time 10 years ago. How many candy bars could you have bought for a dollar back then? The answer is always more than today because your dollars lose value every day, especially when the government prints four trillion dollars, but we’re not going to go there.
Chad Duval:
[crosstalk 00:32:15]. We’re going to have some major inflation soon.
Chris Naugle:
Oh, yeah.
Chad Duval:
Real estate is the best place for it.
Chris Naugle:
Yeah. But we are literally taught to do things with money that we would never do with things that money buys. We would never basically… For example, we put our money in these 401ks to be paid back some day later with just 59 and a half. We’re penalized if we take it out before that.
Chris Naugle:
But would you ever take your dollars, go to the grocery store, buy a loaf of bread, come home. Put it in your freezer, and shut the door, and then go back 15 years later, or whenever your retirement expectancy is, and then take that freezer burned loaf of bread out and be like, “Yum. I can’t wait to eat this thing?” No.
Chris Naugle:
You wouldn’t even eat it. Would you ever buy a car and wait 5, 10, or 15 years to drive the car? Or would you ever buy your dream house and wait 5, 10, or 15 years to live in that house? The answer is no, no, and no, but that’s what you do with your money. The wealthy don’t do that. the wealthy understand banking functions and principles of their money, and that is very simple.
Chris Naugle:
Be in control of your money, and move your money. But what we do is we literally park our money. It’s almost like we put our money in a stagnant pond where it just sits there and it rots, and it dies. That’s what happens. Put your money in the bank account, and leave it there for 10 years, and watch what happens. Your money will erode and be worth nothing because you lose buying power of that money, and the bank doesn’t pay you anything.
Chris Naugle:
The wealthy understands we got to pace inflation with where our money is. We need to move money, just like a raging river, and then not only that, we need to be in control of our money. In order to accomplish those three things what they have to do is they have to find a machine that allows them to move that money. This is were I kind of lose a lot of people, but it is literally the single handed secret of the wealthy that I’ve seen, and I keep seeing it over, and over with my podcast again and again with these wealthy people.
Chris Naugle:
They don’t use banks. They don’t use banks in the way we do. They don’t park their money at banks. They don’t visualize having millions of dollars sitting in their bank account. That would be failure to them. What they do is they park their money in mutually owned insurance companies through a very specially designed and engineered whole life insurance policy, not like the one you go to the insurance store and buy.
Chris Naugle:
I got to be very clear because as soon as I say whole life people are like, “Oh, that sucks. Dave Ramsay says whole life’s the worst investment.” Well, yeah if you go to the insurance store and you buy a life insurance plan that probably is a bad place to put your money, but I’m talking about using these insurance plans, and these insurance companies, in a very different way.
Chris Naugle:
It was developed by the Rockefellers, the Rothschilds, and all them. If you want to talk about someone that’s smart at banking, I think they were pretty good. They created this. You put your money there. The insurance company pays you 4% on your money guaranteed, plus they pay you a dividend every year because you’re mutually owned.
Chris Naugle:
But then what happens is instead of leaving the money there and being happy with 6.5%, no wealthy person would do that, they immediately take their money back out. They put it there. They take their money out, and then they go do whatever they do with their money. Let’s say they buy real estate, or they lend the money out at 10% or 12% as a hard money lender.
Chris Naugle:
The money that was put into that insurance policy is earning, let’s call it 4% for simple math right, 4% guaranteed. When they take the money out they’re not actually taking their own money. They’re taking the insurance company’s money with a low interest rate loan. The insurance company gives them money from their general account. Their money sits there and continually earns uninterrupted compound interest.
Chris Naugle:
Remember, whatever money they put through this account, that’s still earning interest even though they took it all out. Now they use it over here on the right side to make more, or they use it… Instead of going to the car dealership and financing a car, they gook their money out of their policy to buy the car.
Chris Naugle:
Then instead of just stopping there they said, “Well, how much would I have paid this finance company for the car? $600 a month? I’m going to pay my policy back $600 a month.” They don’t create new money. They just move the money, and take back the money that they would have normally given to everybody else while their money never stopped earning interest over in that specially designed and engineered insurance policy.
Chris Naugle:
There’s way more to unpack there, but I just want you to understand that that single handedly is the foundation to what the wealthy to different with money than what we are taught to do. That’s where they start… Now, I’m not saying that wealthy don’t buy stocks, because the wealthy will put their money there, take their money out of that insurance policy, and go buy Apple, Tesla, or whatever.
Chris Naugle:
Tesla just took a huge, huge drop, so maybe it’s a buying opportunity. But that’s some of the things they do. Wealthy people also understand that moving money is key, so they don’t just park money in real estate deals. You won’t find wealthy people that own real estate outright in most cases. Normally they have loans, upon loans, upon loans on these properties. Why?
Chris Naugle:
Well, because if they put all their money in the property don’t they just park it there like that stagnant pond? Yeah. What do they do? They leverage their money. They put their money there to get the deal. Then they go to the bank. They refinance it, take all their money back, put it right back through that insurance policy, take it right back out, and rinse and repeat the same process over-
Chad Duval:
Yeah. And just keep recycling it.
Chris Naugle:
… and over. Yeah. You can-
Chad Duval:
Now-
Chris Naugle:
… kind of see how this works. It just goes on and on.
Chad Duval:
Quick question about the whole life. When you’re doing that, are you able to actually have a claim too? Are you still protected that way-
Chris Naugle:
Yeah.
Chad Duval:
… like as an insurance policy too?
Chris Naugle:
We didn’t talk about that. The other thing too, remember I said that the insurance company is loaning you the money at a lower interest rate. Well, I skipped this, but usually when people think of a loan they think of going to the bank, or a credit card, or something. When someone gives you a loan you have to pay that loan back.
Chris Naugle:
Well, these loans from the insurance company, hypothetically they don’t need to be paid back, because what the insurance company is doing is… They made two promises, well several, but one they promised that you can use your money while you’re living through these loans. But they also promise that someday when you graduate, and I don’t mean college or high school, the big graduation date. Day you die. They promise to pay a death benefit to your beneficiaries.
Chad Duval:
Wow.
Chris Naugle:
The insurance company, what they do is they’ll give you as much money as you want based on the amount you have on deposit, because that deposit is just acting as collateral. Your money never leaves the account, which is why it earns uninterrupted compound interest.
Chris Naugle:
But all these loans that they’re giving you, all that’s happening is that death benefit that’s going to be paid out on your graduation is being reduced by the amount of outstanding loans. You’re literally just using your death benefit while you’re living. But yes, some day when you do graduate there will be a death benefit paid to your heirs, your beneficiaries, your trust, and it will all be tax free.
Chad Duval:
Wow.
Chris Naugle:
Listen. I can’t make this stuff up. This has been used by… In the modern day, don’t get political on me but I’m just going to call out the ones that you can look up and Google yourself: Biden, McCain when he was living, he used this. I’m sure Trump uses it took, but I don’t have claims to prove that.
Chris Naugle:
Oprah uses it. Stanford University was created with this, Walt Disney World. Ray Kroc. The Rothschilds. The Rockefellers. Warren Buffet in a different way. Pampered Chef. Doris Cross. She started Pampered Chef with this. This is not new. This has been around for hundreds of years. All I did is I figured it out, because I saw what wealthy people were doing with it.
Chris Naugle:
I was an advisor, so I knew what whole life was. I was like, “You can’t do that with whole life. You can’t go and make a deposit into your whole life and then immediately, as soon as your check clears, take your money back out.” They’re like, “Yeah, you can.” I’m like, “No. You can’t.” They’re like, “Yeah, you can.”
Chris Naugle:
I’m like, “No. You can’t.” They’re like, “Well, I don’t know who’s right or wrong here, but that’s what I did, so obviously you can do it.” I just didn’t understand what they were doing with whole life, because everybody just looks at it and they take it in their hand and they’re like, “It’s a whole life. You can’t do this.”
Chris Naugle:
Well, you haven’t peeled the onion. They’re not using it the way that we do. They’re not using it for life insurance. They’re using it for banking, and they’re designing it for banking. Now, there’s always a death benefit, but it’s just totally different than what we know about it.
Chris Naugle:
Once you figure it out, and you start asking around to all the wealthy people you know, “Hey, do you know about this privatized banking thing?” “Oh, yeah. We’ve been using that for years.” You go to the family office and you’re like, “Do you guys use privatized banking?” “Yeah, all of our money starts there.”
Chris Naugle:
Almost like, when I started doing this I was always like, “Okay, so I’m the stupid one here right? I’m the only idiot here that didn’t know that this is how you guys did this?” Because they don’t even think anything of it. It’s just like, normal for them, where for me it was like this brand new, fancy object. I’m like, “Oh, my god. This is like the most incredible thing,” they’re just like, “What, our banking systems?” I’m like, “Yeah.” They’re like, “Okay. Well, yeah. We’ve been using it for a while.” It’s wild. It’s wild. I’m just getting warmed up, but I’m going to stop [crosstalk 00:40:33].
Chad Duval:
Yeah. No. I’ve heard a little bit about it in the past. You’ve explained it a lot more clear, I think, for people to understand it.
Chris Naugle:
I feel like I did a terrible job right there.
Chad Duval:
No. No. I think it was great. It’s great. It’s definitely a great tool to have in your toolbox. With that being said, I mean you being in finance, and being a money mentor, for a lot of people who listen… The podcast is called Start FM, so it’s all about getting started in real estate.
Chad Duval:
This season we’re trying to pivot a little bit more into business, and branch out into other things. But money usually is a huge factor in why people don’t start. They don’t know how to get the money-
Chris Naugle:
Oh, yes.
Chad Duval:
… that sort of thing. Is there any tricks, or-
Chris Naugle:
Heck yeah.
Chad Duval:
… advice that [crosstalk 00:41:21]-
Chris Naugle:
I wrote the book on this man. Literally I’ve written-
Chad Duval:
[crosstalk 00:41:26]-
Chris Naugle:
… two books. One, it’s called Mapping Out the Millionaire Mystery. It’s on that concept we were just talking about, but then more. Then the other one is The Private Money Guide because of exactly what you just said. You see, when I got into real estate the one reason it took me so long to get into it is because I thought I needed a bunch of money.
Chris Naugle:
I thought I had to have all this money to be able to get into real estate. Well, I can’t get into real estate if I don’t have money. Well, it’s not about your actual resources. It’s about how resourceful you can be. Here’s some tips.
Chris Naugle:
If you’re brand new, you’re just getting into real estate and you’re wondering, “Well, how am I going to do this?” Well, as you all know by now you could get into wholesaling, but wholesaling is not real estate. A wholesaler, just so everybody knows what that is, is you identify and get under contract a really good off market real estate deal, or on market for that matter. It just has to be a really good deal.
Chris Naugle:
Then you sell the paper, the contract, which has the legal right to buy that property at the price to somebody else for a fee. That’s wholesaling. But wholesalers are not real estate investors. Wholesalers are marketers. As soon as you understand, if you’re going to get into real estate and you want to do it with very little money out of pocket, well then you should be a marketer, because you can make a ton of money doing that, but you’re not in real estate. You’re in marketing.
Chris Naugle:
That’s the first thing. But then let’s just say you’re like, “Yeah, but I watched that Risky Builders TV show that you did, and I want to flip houses like you did.” Great. Then I said, “Well, what are you waiting on?” “Well, I don’t have any money.” “Great. You want money?” “Oh, well yeah, of course. Absolutely.”
Chris Naugle:
“You want to know how to find money? Go out there and talk to all your neighbors, your friends, and your families, and don’t ask them for money. What I want you to do is I want you to identify what their money problem is. It’s very easy to do. Talk about your money problems first.”
Chris Naugle:
Talk about the stock market and how it just dropped today, and get a reaction. Are they not happy with that? If they have a really nice house, and you’ve heard them in conversation say, “Hey, we’re almost getting our house paid off. We’re getting close,” right there a big siren should be going off in your head that they’ve got equity in their house.
Chris Naugle:
The biggest problem with your neighbors, and all the people you’re around, is they don’t understand how money works. If you just learn how to solve that problem for them it’s very easy to raise money.
Chris Naugle:
Let me dive into that one real quick. Let’s just say your neighbor Joe has equity in his house. How do you know if he has equity? Well, you talk to him. You say, “Hey, Joe. I love your house. I always have. You guys got to be getting close to getting that thing paid off. That’s got to feel good.”
Chris Naugle:
“Yeah. Boy, two more payments,” or, “12 more months of payments and that thing is paid off.” “Amazing. Joe, what do you think will change when you pay your house off?” “Oh, well I don’t know. I won’t have a mortgage.” “Yeah, I know, but will you take more vacations? You think you’ll upgrade the car? I mean come on man, that’s a big thing.”
Chris Naugle:
Then they say, “Well, no. I probably still drive the same car. I just won’t have a mortgage payment.” Then you say to Joe, you say, “Well, Joe your car payment, do you like making that car payment? I know this is a weird question. Just go with it Joe.” He says, “Of course not. I don’t like making my car payment.”
Chris Naugle:
“well, Joe. What if I knew how your house could pay for your car? Would you listen to me?” “Well, of course I would. What do you mean how my house would pay for my car?” “Well, you know that house that you live in every day? What if without you ever having to work any harder, any longer, take on any risk, or lose control of anything, your house would pay for your car?”
Chris Naugle:
Well, of course he’s going to give you 10 minutes. How does that work? Well, you need to find yourself a deal before you meet with Joe, because now you’ve got a deal, a real estate deal, and that deal presents the opportunity for Joe to basically be part of that deal with you. That deal will then utilize his home equity line, or his equity in his house, to fund the deal.
Chris Naugle:
Then what you’re going to do through your real estate deal is you’re going to pay for his car, and you’re also going to pay for his home equity line payments during the period of time you have that. You see how you didn’t ask for money? All you did is you solved their problem. What was Joe’s problem? He doesn’t like paying his car payment, so you’re going to pay his car payment.
Chris Naugle:
It’d be almost the same thing if you just walked over to Joe and you just said, “Hey, Joe. I got a proposition for you.” “Oh, great.” “Well, here. I brought you a beer. Let me just have five minutes of your time. Joe, I want to pay your car payment.” Joe instantly would be like, “Whoa. Did you win the lottery?” “Kind of. I kind of did. But I just want to pay your car payment. Would you be open if I could show you how that would work?”
Chris Naugle:
Joe will absolutely listen to you. You just show him how to use the equity in his house, which is money that’s sitting lazy on his couch every single day doing nothing. You just have that money go to work. Again, principles of the wealthy. The wealthy never leave money sitting lazy. They always move it.
Chris Naugle:
Joe’s money is sitting lazy on his couch. It’s equity in his house. It’s doing nothing for him except for making him feel good. You can do the same thing with 401ks. You can do the same thing with IRAs. You can do the same thing with any source of money.
Chad Duval:
Yeah. I just love how you framed it too. It’s literally just framing your conversation in a way that actually benefits the person that you’re trying to obtain that loan from, or that money from. That’s a really good way to do it.
Chris Naugle:
Thank you.
Chad Duval:
I love that.
Chris Naugle:
It’s so simple though. Think about life in general. Forget about funding you real estate deals. Life in general is all about helping other people solve their problems. Zig Zig lar said if you help enough people get what they want, you’ll get what you want. You know what? He’s 100% right.
Chris Naugle:
Help your neighbor get what he wants. What does he want? He wants his car payment paid. Help your other neighbor pay their college tuition. You can do all these things, because they have money sitting there. I don’t care if it’s in their 401k, in their IRAs, or in their house. They don’t know how to make that money work.
Chris Naugle:
They only know what they’ve been taught their whole lives, which is honestly the complete opposite of what they should be doing in most cases. Show them. Solve the problem. If you solve people’s problems your problem will be solved. I learned this by failing so many times, because all I used to do is ask for money.
Chris Naugle:
“Hey, can I borrow money? Hey, I got this real estate deal. Can I meet with you about borrowing money?” “No, absolutely not.” “Heck no. Go away kid.” Then I changed it, and I framed it just like that. Solve problems.
Chad Duval:
Yeah. That’s money right there. Absolutely. I think that would be a very tangible tip for everybody listening, especially… It’s tough. It’s tough to get started, and especially with the market right now, and everything going on, and the pandemic. It’s crazy, but it’s [crosstalk 00:47:25]-
Chris Naugle:
Weird time.
Chad Duval:
Yeah. It is weird. Like I said, and like you’re saying, just got to solve problems. Solve problems.
Chris Naugle:
That’s the secret. It really is.
Chad Duval:
Yeah. We’re getting close to the end here, but yeah I just wanted to lighten it up a little bit and get people to know a little bit more about you. Are you still snowboarding these days? What do you do for-
Chris Naugle:
Oh, yeah.
Chad Duval:
… fun?
Chris Naugle:
Yeah. No, I skateboard a lot still. I just got-
Chad Duval:
Oh [crosstalk 00:47:50]-
Chris Naugle:
… back into skateboarding after like, I don’t know, three years of not skating. I love it. I don’t do anything crazy. I just skate around the bowls. I snowboard still. Any chance I get to get on a surfboard I’m there. Those are the things I do for fun, and I have a three and a half month old now so life is a little different. Life’s about-
Chad Duval:
Congrats. [crosstalk 00:48:07]-
Chris Naugle:
… her. Thank you. Yeah.
Chad Duval:
[crosstalk 00:48:09].
Chris Naugle:
It’s cool though, man. I’ve often in my life asked myself time and time again, “Why do I work this hard?” Because it’s not about money to me. It’s not about some amount of money. I make a lot of money, and it’s not even about the money. The money is just the tool to get me to the point where I can live my perfect day every single day.
Chris Naugle:
But to live your perfect day every single day you got to know, what does your perfect day look like? There’s another tip for your audience. You want success, you want to know why and how to get somewhere, then know where you’re going. Figure out what your perfect day looks like from the time you open your eyes to the moment you close your eyes. What does every step of that day look like?
Chris Naugle:
Then figure out, what is it going to take for you to live that? Because once you know what you’re working toward, everything is easier, but if you’re just working for some fictitious thing, “I want to make a million bucks,” bullshit. Excuse my language, but no way.
Chad Duval:
Yeah. Yeah. [crosstalk 00:49:00]-
Chris Naugle:
That’s not your goal. It is just some made up fictitious thing that’s not even real to your mind. Your mind can’t articulate that, but if you visualize your perfect day your perfect day you can do that. Hey, if you wanted a car and you just focused just on that car every single day you’d get that car, because you’d find a way to make that happen. But that’s it. I kind of got off on a tangent there but-
Chad Duval:
No. No. What’s your perfect day look like? What do you want [crosstalk 00:49:21]-
Chris Naugle:
Oh, my perfect day is easy. It’s, I wake up every day in very soft, white sheets. By the way, I have these sheets today. I wake up to the sound of the ocean crashing. By the way, every single day I wake up to the sound of the ocean crashing, yet I don’t live at the ocean, but I have a sound machine that plays the sound-
Chad Duval:
There you go.
Chris Naugle:
… of the ocean crashing. You see, your mind doesn’t know the difference. I wake up every day feeling the breeze of the ocean coming at me, and the smell of that. We have a diffuser that actually smells of the ocean. There’s different ones, but we do that. I have a fan on that makes it feel like the breeze.
Chris Naugle:
Listen, I’ve created my perfect day, but my perfect day also involves me doing exactly what I want to do every day. I can go through… The vehicles in my garage are exactly the vehicles in my perfect day. They’re the vehicles I’ve always wanted. Everything. The coffee I drink every single day is the exact same coffee, but it’s the coffee in my perfect day and I love every minute of it.
Chris Naugle:
I’m not going to waste your time telling the day, but I literally could spend an hour long podcast dissecting my perfect day from the moment I open my eyes. I might not get all the way to the end explaining every little thing, but I could tell you what my office looks like. I could tell you everything, what I wear… Dude,
Chad Duval:
Well, and it just makes-
Chris Naugle:
… there’s so much to it.
Chad Duval:
Yeah. I think that’s even more important than getting into real estate, or even worrying about the type of income that you’re going to have. Because once you know that day you know what you’re working towards.
Chris Naugle:
Absolutely.
Chad Duval:
Then you can actually develop the number that should be in your head as far as how much money you’re going to need to do that. It becomes a little bit more secondary to then actually… Yeah. Setting up your day, working for time. That’s another currency that’s very popular. I try to do that. It’s definitely more important, I think, than most real estate.
Chris Naugle:
You nailed it. You nailed it Chad. It’s so much more important. You see, I used to always have a number in my head right? Just the other day my wife said… She said, “Chris. Didn’t you say that this was your monthly number a year ago?” I’m like, “I don’t know. Did I?” She knows what I make. She’s like, “I think that’s what you said your goal was a year ago.”
Chris Naugle:
I said, “Well, that’s crazy. I would have thought it would have been higher than that.” Well, because the number is higher today than what that number was. I’m just thinking about it. I’m like, “You know what? That was back when I used to put a number.” I used to have a set number that I wanted to hit, and when I hit that I felt like I’ll be complete. Then all the sudden I erased numbers from it, and it became not about a number.
Chris Naugle:
It became about what money does, and what can I do? How many people can I help with the income? Who can I support? It’s just, money is a tool. Money is not an object.
Chad Duval:
Yeah. And there’s no emotional connection to it unless you have your day and the lifestyle that you’re trying to build-
Chris Naugle:
Yeah.
Chad Duval:
… you know what I mean? That’s way more motivating than a number in your bank account. I know it is for me.
Chris Naugle:
It is. It’s insane, because all the sudden once you erase the number… And it’s not about a number. It’s about living for this perfect day, or whatever you decide you’re doing what you’re doing for, money just literally… Listen, you can think I’m crazy but I don’t really care. Money just, it just attracts itself to you.
Chris Naugle:
I make money from places that I never would have ever dreamed I could make money from, but it was just because it was like, all the sudden I started thinking about it. All the sudden I was like, “Wow, I can make money doing that too.” The other piece of advice I’d give everybody is, when you do venture into real estate and you’re looking at, what are you going to do in real estate, have multiple strategies, multiple income streams that are going to come in from your real estate operations.
Chris Naugle:
Don’t just have one. Don’t just be a flipper like I was. Don’t just be a rental person. Don’t just be a wholesaler. Have multiple strategies, and each one of those strategies is its own little profit center. Then off of those strategies you will eventually start finding additional ways to make money. You’re like, “Okay, well I made this money over here.”
Chris Naugle:
“Then I’m going to roll this money through that banking system, that privatized banking thing Chris talked about. Then I’m going to lend that money out to my friend Jim over here who’s just getting into flipping. Oh, and then by the way I’m going to teach Jim how to do this. I’m going to mentor him, and he’s going to pay me $1,000 a month.” Do you see what I mean? It’s like-
Chad Duval:
Yeah. Yeah. Totally.
Chris Naugle:
… as you learn you all the sudden manifest the different things you’re going to do, so don’t ever pigeonhole yourself into like, “This is what I’m going to do.” Man, the world’s way too vast for that. You got to help a lot more people to get there.
Chad Duval:
Right. Right. Absolutely. Absolutely. Well, cool Chris. Well, I appreciate you coming on the show. Why don’t you tell people where they can get ahold of you? I know you got your podcast, and you got a couple books out.
Chris Naugle:
Yeah. It’s super easy to find me. I’m all over social media, but the best place to start is my website. It’s Chris Naugle, N-A-U-G-L-E, dot com. On there you can basically get all my books for free, so that’s the reason to go right there. All my trainings are free. I give everything away for free. Every training I do is free on there. You can get everything on the website. You can learn. Then if you like social media, I love Instagram and Facebook. I’m on there all the time, but Instagram is where I spend most of my time, so that’s the best way to find me.
Chad Duval:
Perfect. Well, thanks for coming on the show, and everybody go check him out. I appreciate you coming on, and we’ll be in touch man.
Chris Naugle:
Thank you so much Chad. I appreciate the opportunity.