The Science of Flipping
Why Smart Realtors Focus on Wealth, Not Just Commissions | John Gafford
10 Jan 2025
Chapter 1: What is the key to success in the real estate market?
Understand that what got you here today is probably not what's going to be there tomorrow because the real estate industry overall, the markets fluctuate so much between interest rates and housing prices and demand and all of those things that go into this crazy thing that we do that you can't become a one-trick pony and it's like surfing, dude.
You've got to keep your eyes on the horizon for that next wave. And if people ask what my secret to success in real estate is, it's that I've always been able to catch the next wave. Yep.
What is up, Science of Flipping family? I am super fired up because I have a very close friend of mine, and he is the man in Las Vegas. Not only is he a real estate investor and a master real estate investor, he owns a brokerage, hard money title. He is vertically integrated. If anyone should be on this podcast, it's about damn time. We got John Gafford here.
What's up, man? Dude. It is about time. I think we spend more time next to each other on the podcast charts. That's right. We actually do in the same room. That's right.
Isn't that crazy? We do. And we've become incredibly close over the last year. And that is the best part of these podcasts. I'm sure you could probably say is like the relationships that get built because of podcasting. Oh, totally. Unreal. Totally.
Unreal. No, completely. I think that, you know, when people ask me why I do my podcast, it's the first answer is 100% always to grow my network. It's just there's no better reason.
And when you sit with somebody like this for any amount of time and you talk about their favorite subject, which is themselves, it's kind of hard for them not to have some sort of an affinity for you by the time they walk out the door. No doubt. Absolutely.
And it opens up so many doors, right? People – so I told you previously, like – People are asking me all the time now because of the level of success. Should I do it? And my answer is hell yeah.
Well, dude, we take, I mean, the room you're sitting in right now, right? This is how serious I am about it. We're sitting in my podcast studio, which is actually in my office.
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Chapter 2: How can podcasting help build your network?
Really, really far from where we were. And we brought in some folks that were talented people, but that you literally went from, you gotta understand, it's almost like moving, right? When you look, when you talk about moving, if you move, if you move from one house to the house next door or the house across the country, it's the same. And business is completely the opposite.
Because if you have a bit, if you want to open another business, open one down the street that you can drive and share product and, and help each other out. When you open another business across the country, it's its own world. That's its own thing. And it's very difficult and the brick and mortar space to try to support that. And trying to go too wide like that, we really got our ass kicked.
And we ended up selling off all of those JVs, splitting off just because it became a logistical nightmare for us to manage them. And we realized we're like, wait a second, if we put as much effort as we're putting into these nationwide JVs into our own local market. Yep.
with this stuff will crush and it's way easier to run. So we pivoted two years ago into that. We have several JVs here in Las Vegas with other real estate companies, brokerages that we run their mortgage and their title for. And that's been very successful because it's very easy for us to facilitate that.
Yeah. You're here and you're saying something that I try to help preach. So I'm a victim of this, right? Any of us visionaries victim, like we are shiny objects. Oh, we can go take on the world. Let's go to all these States. That's us. That's you. That's me. So I have to work. That is something I literally have to work on all the time.
Yeah, it's almost like when you're going to send a nasty email and then you delete it. Like Kent from Boardroom said, you know, when you leave here, don't go back and throw up all over your people, which is what I used to do. I would come back from an event, from something and say, okay. And I would literally just be bouncing off ideas.
But my staff, because they're a great staff that works for me, would think, okay, this is what he wants. So they would put it in motion. And all of a sudden I'm like, oh, okay, I guess we're doing this because now this was an idea and now we're doing it. And everybody seems jazzed about it when in reality they were just trying to please me.
And then we would spin something up that just didn't work. And not all of our verticals have been really successful. You know, probably one of the biggest things for me in business is,
is mistake the biggest mistakes that i've made is i didn't bother to ask anybody if they wanted the product before i made it i just made the product okay and then and then found in some cases didn't have an audience that's right i love when people you go in their offices and they have like accolades everywhere of all the stuff they've won you don't really notice it but if you look around my office most of the stuff that's in there is miserable disasters like there's a bottle of vitamins on my desk you didn't even notice it's a hundred thousand dollar bottle of vitamins
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