King Khang 0:00
If you don’t have a million dollar bank, you have and you have a mansion and you have a supercar, dude, you’re pro bro. People always think about passive income because they’re lazy, the reason why the rich buy real estate, not for passive income, not for the cash flow.
Brad Weimert 0:13
And so you just illustrated why realtors are not worth I know I’m pissing off a lot of realtors.
King Khang 0:20
Yeah, you will
Brad Weimert 0:22
Congrats on getting beyond a million. What got you here won’t always get you there. This is a podcast for entrepreneurs who want to reach beyond their seven figure business and scale to eight, nine and even 10 figures. I’m Brad weimert, and as the founder of easy pay direct, I have had the privilege to work with more than 30,000 businesses, allowing me to see the data behind what some of the most successful companies on the planet are doing differently. Join me each week as I dig in with experts in sales, marketing, operations, technology and wealth building, and you’ll learn some of the specific tools, tactics and strategies that are working today in those multi million, eight, nine and 10 figure businesses, life can get exciting beyond a million King con. It is awesome to meet you in person. Man, brat, it
King Khang 1:06
is truly an honor. Man, truly an honor.
Brad Weimert 1:09
So we are at family mastermind. This is like the, I think this is the third time that I’ve done sort of the ad hoc recording sessions at this event. Oh no, yep. Bunch of badass people here, absolutely. And there are a bunch of things I want to talk to you about, but you got into real estate and also teach real estate. I do how much your time is split between teaching versus doing. So
King Khang 1:32
right now, since I have a team so I got a team of seven VAs that run my whole entire wholesaling operation. Now it didn’t happen overnight. It took me a long time to get to that point, but we got seven VAs that are just crushing it, and so I spent about an hour a day on my whole selling business. So every single day I have a meeting with them. Kind of go over, hey, what? What are, what’s, what, what things are going on. Where are the deals at? So I think you know, you don’t want to be escaped from your business. I believe that you always want to have a pulse on your business. You need to know what is going on. You can’t just rely on that person that runs it and you don’t know anything. What happened if that person get a car accident, or they just decided to quit, or whatever it is. Now you’re at vulnerable, like you’re at their mercy. So for me, I don’t want to beat that, but so I spent about an hour, so a day, every single morning, I meet with all my VAs. We go over everything, what’s going on. They have any questions they can ask me. After that, I just take off, typically, I spent, and then for creating content and teaching, I spent, I would say, a good three to four hours a day on just creating content. And that’s where my heart is. Like, I love creating content. I love teaching, and I guess you guys call it a passion. What do you call it? All right, just call it. It’s just another way for me make money. All
Brad Weimert 2:48
right. Well, let’s back out. So sure give me the, you know, the origin story of how you got into business in the first place, and then real estate. I’ll
King Khang 2:55
try and make the long story short. So I was making as long as you want. Yeah, dude. So, I was born and raised in Vietnam, grew up in a mud hut. And I’m sure a majority of you who watch this probably don’t even know what a mud hut is. So when I say I grew up dirt poor, literally, Brad, every single time when there’s a big rainstorm, my whole entire family, bro, we go out there and we re clay our house. I get a brand new room every single time, baby, sometimes smaller, sometimes it’s bigger, but, you know, so I grew up semi so back in my back in my country, to go to school, you got to pay for education. It doesn’t come for free. Every single time you take a test to get to the next level. So let’s say you’re in first grade, you take the test to go to second grade, it costs your parents money. So that’s why your parents are so tough on kids, because if you don’t pass, you’re costing them money, right? So for because my family was so poor, I got no form of education in my country, so I don’t get to go to school, so I can’t read or write in Vietnamese. I can only speak the language, and I speak it very well, okay? So don’t try to talk my back and think, oh, this cat. Don’t know, right? So fortunately enough, Brad, I came to America at the age of nine drop out of high school when I was 17, and the reason I dropped out, and obviously, you know, as an Asian parents, they want me to go grow up to be something doctor, Lord, just just a typical but I just knew that school wasn’t for me, and I told my parent, I’d rather work from the bottom up. I don’t care if I’m a janitor, I don’t care if I flip burgers, but I have to work ethic because, dude, I worked since I was six. Brad, back in my country, I was on the rice field, man with the China man hat, helping my parents out already. When we came to America at the age of nine, every single summer, kids were playing out, having fun, doing the kids thing. Guess what I was doing? Dude, I was picking strawberry raspberry cucumbers from for every dude, school off until school I get like, one week off, just enjoy my summer. So at the at a young age, I have that work ethic within me. So I grew up, I say, dude, like, I just can’t sit in a classroom and pay attention, like I just know that I’m not book smart, but I know, dude, I can work. Is
Brad Weimert 4:56
that why you’re up here instead of downstairs at the event, sitting in there, listening? Absolutely
King Khang 5:00
so. So even at a mastermind, it’s really hard to get me singing the room and pay attention. I love to be in the hallway, but I think the hallway and the dinner table is where the connection is being built, and that’s where the goal is being dropped. Yeah, so 17 drop out of high school, met my wife at the age of 18. She’s also high school dropout, and at this time, my parents obviously upset with me every single time when I see them, they beat me up about, you know, going back to school and get my the my high school diploma, or my GED what I’m not so I decided to move in with the wifey. At that time, she was living with her mom in a single wide in a single white trailer in a mobile home park, so, and there’s a little shed out back. So my wife and I moved in there. Mid man, we lived there from the age of 18 all the way into a 23 in a little shed. Damn. And when I say shed, bro, I went back there and measured it’s like a 10 by 10, no windows, no no toilet, no nothing. It’s
Brad Weimert 5:51
a mobile home park shed. Maybe you think about this differently now than you should then. But how do you like dropping out of high school is different than dropping out of college. And for a lot of people, I think, how do you think about sort of following through and finishing something you start, versus knowing when it’s time to get out? Because it’s just not the right thing.
King Khang 6:14
See, for me when I watch a movie, if it’s like but so here’s, here’s what I’m different with the wife, the wife, when she started something besides school, when she started a book, or she started a movie, she just have to finish it for me, dude, I watch in if I don’t like it, boom. I just disconnect. And I’ve never finished a book ever in my life. My whole thing when I when I how I learn, it’s either hands on, like this, hiring a mentor where, you know, I can physically see him, or I go through videos, or I go through like, audio, but I just don’t read like, I can read things and won’t translate. It won’t make sense for me, but yeah, man, I mean, like, I just knew that school wasn’t for me, and I, I don’t know if you call it intuition or not, but I just knew that I couldn’t pay attention, and I just knew that I was a like, I have that work ethic within me that I can work that’s just what I know. As far as you like, you know, commit and getting one thing done. I don’t know, man, there’s, there’s, there’s a lot of things where I do it and I feel like, Dude, it’s not going to work out, and I just cut it in half and drop and move on to the next thing. How
Brad Weimert 7:14
long do you give yourself before you say, let’s call it a day. So
King Khang 7:18
there’s a saying that it takes 10 years for an overnight success. Now you don’t want to have to wait 10 years to realize, dude, I suck at this. This is, this is not the game I want to play you. You only have so many 10 years, okay? But if you have stick with something, I believe that people always have to think say, hey, follow your passion, and the money will come. What I can tell you this, dude, that was never been my case. My case was never follow my passion, my case. Dude, when I was broke, dude is, how do I make money today? I don’t care what it is, as long as it’s ethical and it’s moral. I’m not scamming, cheating. I’m not, you know, on anyone. I just want to make the money the right way to do it. But always do what do I need to do? So and that’s what I mean. I could have been doing Amazon drop shipping. I could have done something totally different, dude, but it just happened to be real estate, because everyone said real estate, you know, created the most millionaire. I knew nothing about real estate when we got in it. I have no construction background. My parents just making, you know, 25k a year working at a factory. I have no connections, no experience, and none of that. But I do believe that once you have picked something that you’d be like, You know what? This is what I wanted to do somewhat, maybe like it a little bit, but I don’t think you like something if you’re not good at it. But to be good at it, you gotta play it just like a game. Yeah, the more you play, the better you get, I promise you, dude, the more you’re just gonna like it. Nobody wants to play the game that they suck at. So I think, I think, I think for anything, for you to see results, I think you need to commit at least 12 months, so at least a year you see. So for me now, Brad, like, I now, like, really focus on fitness. Like, I just, I’m not looking to lose weight, I’m looking to get shredded. And I realized, you know, I’m 45 days see and I think, man. And I look at my results, and I was like, Man, I’m making very little progress. And I was like, Man, I don’t know, I don’t know if this is really working out. Then I watch all the video of guys who’d be like, Bro for I went from this your height, your kind of body shape, dude. It took me almost a year. So a lot of time, I think people, what they do is that they overestimate what they can do in a year, but underestimate what they can do in 10 years, five years, three years. So I went so when I see that, and then I realized, dude, come once again, you’re not patient and you’re rushing. You got to trust the process and you got to be patient, because good things don’t just happen overnight. Nothing worth having comes easy in life. So when I realized that, Brad, I said, dude, now I’m going to trust the process. It took the cat a year. I can’t expect to get that kind of result in six months. I can’t expect to get that result in three months, right? But I think what keeps people going, Brad, is progress. Like you got to see that you’re making progress. Because if you don’t, let’s just say you go at this for like, three months and you saw nothing. Yeah, it’s easy to give up. But if you see progress, for example, like losing weight, if you see that every single week that you’re losing a pound, two pound, dude, it just it motivates you a little bit.
Brad Weimert 10:09
It does, I think, you know, the challenge is, when that progress starts to slow, you’re only seeing little bits correct, like you were saying with Jim, right? You’re seeing these tiny bits of progress, and at some point that gets deflating, because Correct. You want fast results, yeah, yeah. Fast results. You want to be good, yep. And everybody wants it to happen. Fast, absolutely. So you had a five year period where you were living in a shed, yep, with your now wife, girlfriend, wife, now wife. What was the you found real estate at some point, but what was the you said you were about to tell me, yeah, the first big hit for you was when you’re 23 so
King Khang 10:44
the first, so the first breakthrough, I think we’re in 19 and a half or 20 the wife. He was working for this, this Korean guy. He owns a little kiosk in the mall. She was working part time. The problem with the guy is that he’s trying to grow too fast, too quick, and then he end up he’s, he’s, he’s gonna go bankrupt, he’s gonna lose everything. So he approached the wife. He said, Hey, do you guys want to buy over the kiosk at that time? Brad, our goal, our main goal was, was like, Dude, we need to save our money so we can buy a house to get out of the shed. That was, like, our main goal at that time. We didn’t think about businesses or nothing like that. Like, like, I’m like, Gary V Brad, I don’t have the entrepreneur mind spirits, dude, I wasn’t flipping baseball card. I wasn’t mowing yard, hiring other people to mow yard, like as a kid growing up, seeing my parents just working regular jobs. But that opportunity came, and the wife took it, because she see, she knows the in and out of the business. And I, for those of you who watching this, and I think the best way for you to really, the best way for you to really learn is it’s work for someone, not for a big corporation, but for Mom and Pop small, you know, because then they will teach you everything, but you got to be the best. She was the best. Like she was making the guy so much money brand, but he wants to make her the manager. But guess what? Dude, the wife, she’s a freaking badass. You know what she said? She said, Steve, I either own this or I’m just gonna work as a regular employee. She won’t manage for him, because if she managed for him, he could have take off and then start another one. Yeah, but it’s but for her. She wants something her own, and she was trying to at that time. Brad, like Brad, we were so confused with our life. You know, I was making $8.50 an hour work in a factory, and the wife was trying to bounce back, go and get her beauty a degree or whatever she wants to do, hair, makeup, whatever it is. And she didn’t want to be a manager to take away, because she knows how much time and effort that she has to put in, because, listen, you want to get paid more, put more in. That’s, that’s all it is. Like you can’t get get paid more by putting a minimal amount. So she knew that he has high expectation, and she didn’t want the high expectation just to be a manager, yeah, so she said, I the only time continue doing what I regularly do is part time. So the Cat said, Dude, I’m gonna sell it over to you at that time, Brad, we had about $15,000 saving the bank. Okay, that’s
Brad Weimert 13:02
a ballsy move for an employee. Oh.
King Khang 13:04
Brett Brad, so check this out. I was making $8.50 an hour. The wife was working part time, same minimum wage within a year and a half, bro, within, I think a year and a half or possibly two, dude, we saved $15,000 that’s why I don’t believe people who said, Kong, I’m broke. I got no money. Dude, the reason why is because you’re overspent. Yeah, the wife and I, Brad, our monthly budget was $50 to
Brad Weimert 13:28
spend. We got no bills. In fairness. I mean, do you think people should live in the shed? No, absolutely not. But I think
King Khang 13:33
people should freaking live below their means. Dude, like, don’t go rent nice apartment. Yeah, right, right, dude, don’t wear designer clothes. Like, shop at Ross, shop at TJ, Maxx, right? Cheap, bro. Like, I believe, dude, you can still look good buying cheap clothes, man, yeah, you know. So that’s why I always try to say, Brad, like, don’t try to be a bowler when you got no Dollar Baby, because, because I see so many people flex the designer, but most of the people who wears designer, dude, I can almost guarantee you most of those are broke,
Brad Weimert 14:01
dude, it’s, it’s most of the world, but it’s certainly American culture. Like, there’s certain, it’s certainly the internet and into the culture, absolutely, hey, look at me. I’m doing well. And one of the things that I love about owning easy pay direct is that I see the numbers on the back end, yeah. So I know what people are making, and I understand their business models, like, I know if they have a good margin or a bad margin. And it is, I mean, it’s, it’s unfortunate. How many people end up creating, you know, relatively sizable businesses, multi million dollar or eight figure, businesses with no margin. They’re not taking anything home, yep, and then they spend it on a bunch of dumb shit. Yeah, okay, look at me and my Lambo, and look at me in my big ass watch. And they’re not making any money anyway,
King Khang 14:40
dude, I agree. And so for those of you who’s watch this, so Brad knows how much I make. So you know, so So things, the things you know, Brad people, people think that you know, once you hit that million dollar mark that you get to buy the mansions you get to buy the rari you absolutely don’t, bro, like you don’t the million dollar. Dollars, like, back then, it was huge. But today, I still a lot, but it’s not as much as when it used to be. To me, when you’re ready for the super car, when you ready for the mansion, bro, you got to be doing at least, I would say, close to three to $5 million plus a year. And you got to net quite a bit. So for me, when I when I look at like, Okay, I’m a millionaire, dude, I need to see you have a million dollar in bank before I see you have a supercar? Yeah. So if you don’t have a million dollar bank, you have and you have a mansion and you have a supercar, dude, you’re broke. You tell me that you do a million or 2 million a year, bro, you you’re broke when I made that millions and I have X amount in the bank, versus someone who make the same and they have all the nice things. How can you, how can you have the money in the bank when we’re making the same thing, but different lifestyle. So for example, lawn and I don’t live in mansion. We still live in the exact same house we bought 15 years ago. Because you guys gotta understand this. Let’s just say you make a million dollar last year. That year, 40% goes to Uncle Sam boom. That goes for $400,000 All right, now you out buying the Lambo. You’re out buying the mansion. You’re out buying all these designer clothes, all this stupid shit. How much do you think you you really have left? Maybe you’ll be able to save maybe 100 grand or so in the bank. Maybe, come on, do you make a million and you can only save 100k Come on, man, shit, bro. So, so, so for for long. And I see, because if you were smart, see, the goal is not to look rich, but to get rich. And that’s what I tell people, because if you were smart with your money, you make the 1000 instead of paying on the same four, okay, you would have took that 400,000 and go buy real estate. So when you go and buy an investment property, how do you have extra cash to show off? You don’t, because you need dude. And then you need to stack away some money for reserve. I like to, I like to, I think you should. You should stack away at least 20% or so for reserve. And people are like, Well, come Why do you have so much cash in the bank and not enough real estate? It’s because, bro, the more real estate you own. Bro, you need to have reserve because not every day is a good day. Business is not always good. There will be time in the world where boom, a storm hits you. Business is not good as it used to be. So how do you stay afloat? Reserve, my friend,
Brad Weimert 17:03
well, I think, I mean, I think you’re right, and I think that the most important thing is for people to have some sort of framework that they’re following, right? Absolutely rule set that is, hey, I’m going to keep x percentage and reserve or I’m going to buy the thing once I get to why Mark, right? So when I was like grinding. I had a rule that I wouldn’t spend more than 5% of my monthly revenue, okay? And by the time, there was no car that I wanted if you’re making 100 grand a year. And so, you know, nine grand, eight, nine grand a month, 5% on the car is 500 bucks or whatever, right? And I didn’t care to spend money on a car at all. And so I was like, until I can get something dope, and my revenue is up to the point where 5% is a dope car, right, I’m not gonna fuck with it at all. So I didn’t buy a car, and I didn’t get any nice things until I was well past that mark. And I think that just having those rules right is important so you don’t find yourself in the trap. I’m like, Look at me online. I’m important. Yeah,
King Khang 18:03
Brett, you know, I totally agree with you. And like, people always think like that, that calm. You have all this you make all this money. What’s the point? You’re gonna die, you’re gonna you’re not gonna take anything away. But it’s not about being cheap. It’s you need to understand money. A lot of you do. You’re not financially smart, and that’s why you broke. That’s why you are where you are, because of who you are and how you manage and spend your money. You see, there’s if you want to spend 100,000 a month on stupid shit, you can’t you just need to make a million dollar a month first. So that’s how Ron and I operate since we were broke, and that’s how we’re able to save and actually have money to invest in yourself and in our business. We only spent between 10, I would say, 15% of what we make. So if you want to make up, that’s why I do you want to make, if you want to spend 100,000 a month, there’s nothing wrong with that. You can spend on whatever stupid shit you want. You want to design a close go buy, yeah. But if you make a million, you spent 10% that’s nothing, right? So my whole thing is to 10, spent 10, 15% of what you make, and then you should be good. Yeah. I
Brad Weimert 18:58
love that. I think that the percentage. The other thing is that if you, if you’re spending based on a percentage of what you make, as you make more, that percentage becomes less significant. Correct, you know, a you know, if you go from 100 grand a month to 200 grand a month, yep, and you’re at the 10% mark, yep, you start running into bigger numbers. Correct. It’s like you can spend more and it really doesn’t impact you much, correct? And then you can keep doing whatever you’re gonna do, but if you get your order of operations off, yep, it’ll fuck you up. Ever heard that big boy song? Order of operations? No. Big Boy is the counterpart to outcast. Big Boy and Andre 3000 make outcasts. That’s a great song. Oh, okay, I
King Khang 19:34
gotta check it out. He
Brad Weimert 19:35
dropped it like last year. It’s called order of operations, okay? And he’s basically rapping about this shit. He’s rapping about people in lower income areas trying to flex right? And he’s like, Nah, man. He’s like, go buy real estate. He’s like, No, stack your chips, right? Great track. So tell me that. Tell me you get to what happens? You said you’d put away about 15 grand. Yep.
King Khang 19:56
So we bought over the kiosk. Once again. Long story. Short, like kiosk, you know. So a lot of people see me online now, Brad, that they think, like, I’m always been an outgoing guy. No, I grew up. I, you know, when I was going to high school, I was going through, like, a very, very distressed moment of my life, and I was always been a very shy, a very insecure guy. I’ll be, I’ll be very talkative around friends and family. But if, when I go on a public and strange dude, I would like my palms get sweaty, like I get freaking anxiety that still happen now. No, not, not anymore, but, uh, but it took me years to same thing it took. It takes years to break the happen and forth something new. Yeah, right. And the one thing I gotta say, Brad number one, is I gotta say, thank God, because if it weren’t without God, I wouldn’t be here doing what I do today. Man, there were so many times where I thought that I would have lost it all and could never bounce back. But dude, every single dark days of my life, bro, God was always there. And number two, now, I don’t want to be religious or anything, right? But number two is the wifey. Bro, I would I would have not became the man, the man I am today. Brad without the wife, she’s the one who really pushes me, bro, to get out of my shelf, to get out of my comfort zone, to become who I am today and the person I am today. Brad is who I always bury deep down within me, because I always been this. I always been so shy, so insecure and afraid of what people look at me and how they perceive me and all of that. But I love talking to people like when I’m around friends and family, you know, you put music on, I’ll do karaoke and all that. But when I’m out in public, dude, I just, I just, I just can’t talk. And I hated that person. I hated that person. And the breakthrough for me was when we bought over the kiosk, man, dude, when I bought over the kiosk, we spent all the 15k already, and then we start zeroing at zero in the bank. LA, and I didn’t care, because we didn’t have big expense. We live in a shed, paying her mom 400 bucks a month. We’re driving a beat up Honda, right? So we didn’t have we didn’t have credit card debt like nothing. So we were okay with going back to zero. And then I remember, long said, calm, we have no money for employee. And we didn’t know, hire employee at the time. We’re like, dude, let’s do this on our own. But she said, Come, I can’t do this by myself. I need your help. So I was working at I was working at five. I was working five o’clock in the morning, right at a factory. So she was, she would come in work at the mall. The mall would open 9am close at like 10pm or so. So she can’t do that every day, seven days a week. But anyways, like, I remember, Lonza, hey, Kong, can you come in after work, help me out? And I said, Juan, you know, I don’t go to the mall. You know how many people is in the mall? I can’t do it. She’s so she bagged me. She’s like, Kong, she cried, she begged me, begged me, I say fucking. I went and tried to I sucked up Brad. I drove in. I remember, I opened the kiosk, dude. I was nervous as hell. And it’s dude, there’s really no one in the mall. But I was already nervous just to be around, just to be around this, yeah? And I saw this one lady walk by, and my whole thing is, product doesn’t sell itself. You have to sell the product, yep, unless you’re Nike, fuck, right? But we’re not Nike. This took a long time, too. Yeah. So I saw this woman walks by, and I said, Dude, I say, I said, I said, I said, I said, Excuse me, would you like to get your hair done? And she’s like, No, Brad, I have never gotten objection. I never asked, so I never have objections. That’s like my first No. My face turned freaking red, as dark as I am, but it’s red, and tears were coming. I couldn’t even hold a tear in, Brad, I was so scared. I was shaking. I grabbed the keys. I didn’t even close the kiosk. I was driving home, looking back now, Brad, I was crying, and why I was crying like a little bitch in the car. I was driving home, and I went home, and I opened the door and lo said, What? What are you doing here? You’re supposed to be in the mall. I said, Claude, I can’t do this. And we cry. We cry. And here’s what she said, Brad. She said, calm, dude, you got a man up, because you can’t be who you are right now, bro, for us to achieve the goal we want. So the only way for us to achieve the goal we want you must become a different man, the man that I want you to be, the man that I hope you to be, man that’s give me goosebumps. Anyway, we cry, bro, and then she at that moment, Brad, the way that I am, bro, it was so bad. It truly hurt our relationship. So bad because of how insecure I was as a person and almost dude, I had to pick up that point. We either, I continue with this woman, or it was kind of a done moment. It’s not because she wanted make a lot of money, because it was just who I am, man, I was just, I didn’t want to go anywhere. I was just trapping myself, you know, go home, play little game and trap myself in box, like I was, like, there was time where I was trying to come. Over my face because I didn’t want her to see me. It was, it was just a really weird moment, man. But I said, Dude, this is the girl that I want to be with, so I suck it up. And day by day, by day by day, dude, it’s just one day at a time, bro. It’s just, it’s almost like you going through the gym, you’re trying to build that booty, bro, and you’re stacking one you’re stacking one piece of paper at a time. One piece of paper time, dude. It doesn’t seem like it’s growing, but after six month, Brad, I was a freaking monster dude. I was a better salesman than that she was, and I was just crushing it all right.
Brad Weimert 25:31
So I love this. I love this. So there are so many good things about this. I think that first you had, did you have the sense of self awareness at that moment that you needed to be a different person. Because sometimes, you know, hindsight is 2020, you can look back at the stuff and tell the narrative and tell the story, but it sounds like you had a moment that was distinct where your wife called you on. It was like, Look, you’re not going to get us to where we need to go. If you stay here, you have to become something else. Yeah. So first, were you aware of that? And second, what were the steps that you took deliberately to change that? Yeah,
King Khang 26:04
man. I mean, for me, Brad, I just knew that I had to pick and I knew what was more important to me, and that was to be with her. And when people say, Love is powerful, I guess so. Just, I was just taking one day at a time. I was like, Hey, let’s just go in there. I’m just gonna ask three people, and then it was four people, and it was this, and it was it hurts every single time when they were said, No, it hurts. It hurts. But I have to remind myself, same thing with what she said. And I wanted a better life man. I want to be the man where my wife can depend on, but she can fall on. She’s like, she can fall back onto, but she can depend on that dude. This guy is going to take care of me, and I wanted to be that man I grew grew up to see my dad always take care of my mom, dude. Family was always first in my dad, if there was a last bowl of rice, he would give it to my dad, or he would give to my mom or us, and rather, starve to death, and that was kind of my role model, and I wanted to be that man for this woman, and then was just just one day. It’s just one day at a time. It’s just getting and it becomes easier and easier and easier. But I also believe that people say, feel good on the inside. You feel good on the outside. For me, it was different bad. And I believe that when people say that to you, they’re just trying to be nice to you, for you to really, really, truly love yourself. I do believe that you got to take care of your outside man, like whether you you know you want to lose weight. So for me, I have really big acne problem, so I started to go see dermatologists. I didn’t want to go see them before, because I just don’t want to see people, sure. So I started to take those kind of steps to improve my physical outer appearance so I can start feeling good about my inner inside as well. And it’s just, it’s just one day at a time man, and just months after months after months after months goes fine.
Brad Weimert 27:56
Yeah. I mean, I really firmly believe that action is what’s going to change your habits, your behaviors, I agree. And everything becomes easier if you just take more action, and it can even be the wrong action, but as long as you have momentum and you start moving, you’re going to change. But without the action, you’re not. I
King Khang 28:15
agree. And the thing is, I think for a person to change, Brad, you must have get you must be a place where you are you either unhappy or unsatisfied. Listen, nobody will change if they’re already satisfied. Where that nobody will change if they’re already happy with where that you can be happy but unsatisfied, which means you’re happy with what God has already given you, but you know that you have more potential. So you’re trying to make changes, because changes is hard for a new habit to form. It take 30 days of consistency do the same thing again and again for 30 days. Most people can’t commit 30 days. Like I tell people, hey, all you need to do is go, drive for dollars, pick an old neighborhood, spend two to three hours a day. That’s all you need to do for the next 30 days. All you need to do every single day just collect 20 houses. Within a month, you have 600 houses. Skip, trace those or send them. You know, direct mail, marketing, postcard, whatever it is, call them up and make offer. And if you can just do that in sit in 30 days, you have 600 houses. Worst case, after two months, you have about 1200 houses. You should have a deal, but you can make $25,000 on but nobody would do it. Yeah,
Brad Weimert 29:22
I love it. So let’s, let’s get to real estate. But I think that the, you know, the the idea of creating habits, yep, I think I don’t know what the I’ve heard, the 30 day mark I’ve heard, yeah, one days, yeah, whatever it is, but one, what I’ve noticed going through a whole bunch of different waves of changing behaviors and habits is that in order to build a new habit, you have to break old ones and come up against violating these old rules that you had. But the first time you break an old habit, you notice it, and it sucks and hurts. The next time you get to that same habit that you’re running into, it sucks a little less, right? And then it sucks a little less, but you have all these different. Moments that you have to control as you’re trying to establish a new pattern. I agree. And so those reps matter, so I appreciate that. So the kiosk is your training ground. You’re creating sales in the kiosk, but you’re also learning self worth, self awareness, yep. How long did you do the kiosk, and how did you get to real estate?
King Khang 30:20
Yeah. So we started the kiosk. So I quit my J, O, the B. So I was dude. I was at this time even the kiosk, you know, after like, two, three years, we’re making over six figure at the kiosk. I was still working at the factory. Like, my wife, Damn, my wife, Brad, she’s on another level of conservative, like, she want to make sure that, dude, our houses pay almost paid off. All of our cars paid off before I quit because she knew that that Job was security. Business goes up and down, but she just, she just want to make sure that she has that peace of mind. I have to work there all the way. I think I quit when I was 27 and that’s when we merged into real estate. Our house was our house pretty much paid off, and we don’t own any debt. And she said, Kong, it’s time for you to go. It’s time for us to go on a new venture. And dude, honestly, Brad, I at 27 car was paid off, house is almost paid off. Oh, no, debt. Have a couple 100,000 sitting in the bank at that time. Brad, I thought I was done with life. I was like, because this is what we all work for, because the American dreams, my mom always tell me, you know, oh, no, debts. Pay off your car, pay off your house. You get some income coming in, got some money saved. You’re good. And to my parents, Brad, anyone who’s make 50 200,000 is a bowler. Like to them, that’s it’s a year. I’m talking about year, not a month. To them, you’re a bowler. So when I told them that I quit the J, O, B, I finally make after working there for six or eight years, I make $30,000 a year. My mom and dad were making 25k so when I told them I quit, they freaked out. They told me that I make stupid. They told me that it was a dumb mistake. They told me about the 401 K benefit. They told me about all this, all this thing, the well, you know, the Medicare you’re getting taken care of all the like, crap. And I was making $5,000 more than they do. So they’re like, dude, whoa, if I may, you know, for them, they’ll be like, I’ll never quit, right? So when I told my parent that they obviously did wasn’t happy with my choices, and they didn’t know that. My goal was not to retire with the 401 K. Our goal was like, Dude, how can we tie where we have, at least, you know, at the top 100k coming in from passive income? Like, that’s, that’s our goal when we’re 65 with inflation. For a lot of people, I believe that with the 401 K, dude, I see a lot of them now retire. Let’s do to Uber, just to make some income. Do the Social Security, these foreign key it’s just not enough for you. Man with inflation to give you a comfortable life. Can you travel every other month if you want to, if you, you know, at 6570 if you want to sit in first class? Could you really afford it? Could you stay at the best hotel you want to? You can’t with that kind of money? Yeah. Well,
Brad Weimert 32:59
look, I mean, I think also, you know your standards consistently. For most people, your standards change as you make money, right? You want to explore experience. And there’s a there’s a lot in the world, yeah, you can explore and check out. Sure you find real estate, yep. How do you run into it? So, like we’re sitting at, oh, okay. Because for context, yep, family mastermind is this group of real estate educators. Yep, and it is everybody. It’s anybody that sells real estate education at all is a part of the group in some capacity. From like the OGS Ron Legrand is downstairs to, you know, pace morby is here. It’s everybody, right. Did you buy a course from somebody? How’d
King Khang 33:39
you get into real estate? Oh, my God, to such a funny story. So at 27 at this time, I thought life was good, but the wife, she has a depressed, depressed moment. She lock her she didn’t lock herself. When she was in the house for a couple days, didn’t want to be outside. She was depressed. Anyways, I was driving home one day, and I went home and I said, long, like, dude, like, go outside. Well, what’s going on? Like, why you’re so sad? I mean, we, we made it long. This is what we’ve been working all these time and making all these sacrifice for. She’s like, she’s like, I don’t know what it is, but I am not happy because she wanted more, Brad, she wanted to be a millionaire. She wanted to make millions of dollars a year. She don’t want to save to a million dollar. And then until we retire 65 with the rate that we’re going, but her mind said that she can’t do it. And then she came across a book. It’s the movie The Secret. And that rap unlocked everything. It lets you have to believe you you can have anything in this world. What Napoleon said, you know, whatever the mind can conceive and believe it can achieve your you know what? If you Brad, you know Bob Proctor was her coach. She pays $7,000 to get a mindset coach. And he said, you can hold it in. Here, like, if you can hold the vision enough long enough in here, we’re so clear. It’s so vivid of the life, the income, the money, the houses you want, you can eventually hold it in here and do chi was like Brad. She went through that. And then we got exposed to Napoleon Hill. I started to rethink and Grow Rich. That changed my life. I came home. I came home one day, I don’t know where Brad, she said, Colin, we gonna risk it all. We’re gonna get into real estate. You know what I said to her? I said, Come on, man, shit, bro. No, that’s exactly what I said. So lo and I, we talked to each other like, you know, like, Dude, I said, Come on, man, shit, bro. I said, Lon, really, you would risk all this that we have built over the last past 10 plus years. So, yeah, yep. I said, Okay. I laughed at her. She said, Kong, we gonna be a millionaire. I laughed at her, Brad. I laughed her. It was, it was not a Tate like to me. It’s impossible. It’s impossible. And she said, but she’s not talking about 10 years time frame. She said, Kong, I want to be a millionaire soon. That’s what she said. And I laughed at her, and she said, Fuck you, Kong. And I said, Okay. And then I said, Let’s do it anyways. So for me, man, my whole entire life, and people ask me all the time, like, Kong, why? People say, Mark, dude, I think my purpose on this life is to make her dreams come true, whatever she wants to Brad, I’m all for it. I’m all in and I want to be the man that can help make that vision, that dream of her, come true. And first, dude, it was $1,000 diamond ring. Then it’s 5000 10,000 so, dude, she keep on increasing the price. I gotta increase my, you know, becoming the next level of a man. That’s
Brad Weimert 36:40
great. Man, there’s a the commitment to getting better and growing as a human is an interesting thing to watch in people, because there are a lot of people that. And this is the same thing with money or revenue or business or whatever, people hit plateaus, and so they kind of like they find something like that that fuels them when they get to a certain place, yep, and they get complacent, correct, or they feel like they’ve got it already, yep, and it’s locked down, yep, and they stop Yep, growing. I was talking to, you know, Trevor mock I don’t I was so Trevor owns carrot.com Oh, okay, yep, okay, I know, yeah. So carrots a platform for real estate investors and now home service professionals also. But we’re in the sauna today. And he was talking, we were talking about sort of plateaus in business. And he said, You know, one option is that you can dial back the business, yep, and have it be sort of more of a solopreneurship, where you’re running it and you’re just using it for cash flow, and you accept the fact that it’s not growing very much. And he said, Look, there’s nothing wrong with that. And we kind of paused, and I was like, I can’t do that shit, though. Man, yeah. I was like, I can’t do that shit. And I was like, I the people that truly build a life around that I love, when people deliberately use business as a vehicle to just create cash flow for my lifestyle, right? And I believe that life is about growth period, and if you aren’t growing, there’s attrition and you are dying. And I know that it sounds cliche, but like, really, if you’re stagnant, happiness comes from growth, from progress, from getting better. And so the business side of things, I’m always looking at, how do we keep doing it? But when I find myself in a mode of, I haven’t been reading personal development stuff. I haven’t been focusing on building new habits and patterns. I feel like shit, yeah. Like, what am I doing? Yeah. So How deep did you go into that, and how much has that changed from the initial real estate venture to today? Do you still, are you still looking for the personal development books right now? Does it go in waves? For you, how much energy do you spend on it? Yeah,
King Khang 38:44
I think, I think for me, it does, goes on, it does go on waves. So and I, Brad, dude, you you just hit everything right on point. If you’re not growing, you’re truly dying in business, in life and all of that. Like people think about, oh, you know, when I retire, I just sit on the beach, dude, it’s, it’s become so boring, where you be like, dude, like, what’s, what’s the point of living anymore? Because for me, Brent, the every day that I’m the most happiest is when I felt productive. So for me, Laura, I we, for me to enjoy my vacation. I gotta, I gotta put in work, and I gotta make money. So for me, it’s the measure of my growth, is the amount of money that I make, the progress. So so people can say whatever it is they want. You can call me materialistic. You call me or call me whatever it is. So for me, I every day I’m happy. The most bro is if I am productive, doing something towards my business, growing it, scaling it to the next level. Now I’m happy with where I’m at, but I want to keep on growing that thing, because I know that if I don’t, I’m just going to feel empty inside. Well,
Brad Weimert 39:53
the thing is, I mean, money is a not the only metric, but there’s no question that it is a metric. Like how successful you are in the game of business, yep. And so there are definitely people that we, you know, we launched this by talking about the materialistic people that felt like they needed to flaunt sure to feel good about themselves. But any way you want to slice it, you don’t have a successful business without money, absolutely. So I, you know, I think it’s a fun yardstick. And as you go through life and business and development, I think it’s a fun game to play.
King Khang 40:23
Yeah, there’s a lot of ways to say it, to make it sound good on social media, like, Oh man, I’m this person that I’m so like, someone asked me a CG he’s like, console, what is your why? What is your what is your purpose on this life? What’s CG? Collective genius, run by medley, yep, Oh, yeah. It’s all mostly just real estate investors, a little bit kind of social media education in there, very
Brad Weimert 40:47
floating around here. I
King Khang 40:48
think today, medley is a beast himself. Yeah, he is. But some cat in there asked me about, you know, What’s your why? What’s your purpose on this earth? Blah, blah, blah, blah. I mean, listen, you can give a very sad, sovereign story saying, hey, you know I want to go to eat whatever the country and build houses for kid. Dude, honestly, bro, like I believe so for me, dude, I I’m happy majority of the time. So for me, dude, I don’t know about purpose. I don’t know about my why. I just know that, bro, I want to make money. I want to try with the wife, and I want to keep her happy. So you would call me materialistic. She wants to buy jewelry, Dude, I got to make more money to, you know, whatever it is you want to call it. But I know that as long as I’m whatever it is that I’m doing, if I’m happy, then, then why try to find my purpose, or whatever it is you guys call like, like, I don’t need to go like, yes, we do. We donate. And I believe in tidying and all that, right, but people can say, oh, yeah, I feel so great, and go build this house for these orphanage kids. Yes, it feels great, but it also feels great when I’m driving in baby Rory into, you know, it and all that as well. So, yep, yeah, I just want to keep it real.
Brad Weimert 41:57
I feel you man. I you know, I also think that I’ve talked about this quite a bit. But I also think that most people don’t know what their life purpose is. Most people, even if they say they do a lot of the time, it’s contrived, they’ve come up with some answer, sure, because they feel like they’re supposed to. So they’re like, having core values in the company. Most people put the values on the wall. They’re like, yeah, they’re over there. I see values are on the wall, but they’re not actually entrenched in what they’re doing. It’s not actually how they live or what they’re about. But back to the comment before action is what gets you to the outcome. I agree, and whether or not this is some divine, huge vision that you have for life that’s pulling you because you’re passionate about it or not, right? You still need to take action. So I like the idea of, like, yeah, I don’t fucking care. I just need to get more money. Like, let’s just keep moving. Just keep moving, dude. So all right, so real estate, you did you get into? I seem to remember reading something about wholesaling, sure and flipping, yep. Have you done both? And why don’t you pick one versus the other? Yep.
King Khang 42:56
So I got into real estate when I at the age of 27 so we got in because the wife came across this book called, How come that idiot is rich and I’m not. We’re like, shit, man, we’re the idiot, so I want to be rich anyway. She pick up that book and teach you everything. It talks about everything about real estate, creative financing stuff too, like flicks, fix and flip, wholesale rental property, passive income. Act like all of that, we paid $7,000 the wife did? She pay $7,000 for three day seminars, and all they teach us was to go on Craigslist and call and call and call after six months. Brad, I was like, dude, like, I felt like I really need a hands on mentor, like, I have no problem taking action. Like I’m a freaking action taker when I hear an idea. Brad, like, even at 12 at night, I want to jump my laptop and start working already. I don’t care what time it is when I think of I just want to do it right away. I just can’t wait to wake up and to get it done. So I’m not a procrastinator, but the problem with me is I’m more of a visual, hands on learner. So after six months, I’ll be like, Dude, we need to get a mentor. And we met our mentor at that event. So to three days, he came in on the third day, it was actually in Florida, but it was in Fort, Fort Lauderdale, so he came in nowhere. He’s a young cat where we’re the same age, and he went in there and did his whole spill. And I said, Dude, this guy’s a piece. And the wife said, Come, you need to get this dude to be our mentor, and you’re not going to leave Florida if he doesn’t mentor you. So on a break time, I came up and I just went up, straight up to him, bro. I just, I just knew, bro, I did. I’ve been in business, bro and I was, I grew up in the street. I dude. I knew that. Moly, talk, bullshit, walk. I don’t go up there and say, Dude, can you help me know, bro, I should say, Hey, Mike, how much would it cost to train me? Give me a price, make me a price, bro. And if I can make it work, dude, let’s go do this. Because I Brad, for me at that moment, for me, Brad, the reason why I’m willing to pay whatever the amount is is because I was sick and tired of trying to figure out myself. I don’t want to see the next six months of my life to be like the last. I don’t. Have to spend the next six months just trying to figure this out. I don’t want to spend the next year making the same as some what I made last year. I’m willing to take the risk, make the investment, and dude, I want to start closing deal already, baby. So for me, Brad, see, I believe the difference between the winner and the loser, successful and non successful. It’s actually very simple. It’s here because your thoughts. Brad, we talk about action, but your thoughts dictate your action. Your action dictates your results. If you’re good with your money, dude, your thoughts about money, it’s good. You’re gonna save. You’re gonna invest first, right? So for me, Brad, I say, Dude, if every month goes by, but I don’t have to make 10k 20k That’s how much I’m losing. Six Month go by time. 10k do that 60k I’m losing. So why not pay this cat one time so I can start making that 60k 70k 80k, 100k a month. So anyway, I paid him amount. Flew him out for three days. He showed me everything about real estate. I was sometimes you guys just don’t understand that. Maybe you’re doing shit, but you’re doing the wrong shit. Yeah, dude, so you’re like, you think you’re working, but dude, my you might be doing the wrong shit. And the thing spread. I also tell us. I also tell my followers this, man, it’s not how hard you work, man, it’s what you do for work. And if you guys just sit back and think about that a little bit, it’s not how hard you work. I used to work 1314, hours a day, but I make way less than what I do now, and I put less effort in, because it’s what I do for work. You can choose to flip a burger and make 25k a year, or flip a piece of paper and make 25 camera. See, yep, it’s a different in what you do for Yep.
Brad Weimert 46:34
So why did you pick wholesaling offices versus any other type of Sure.
King Khang 46:40
So, so I, so I started out as fix and flip. My mentor does a lot of fix and flip in Hagerstown. So we start out fix and flip, because we got capital and all that. But four and a half years in Brad, I almost lost everything and went bankrupt, and that Brad was the darkest moment of my life, buying houses and flipping them, buy fix and actually flip. Yeah, I did that for four and a half years. Got it,
Brad Weimert 47:03
yeah. So you have to put money into the house, correct, and so you’re
King Khang 47:07
you got to deal with contract, a city permit. And typically, a lot of you don’t understand, like on he TV, they make it look sexy, but do you know where they really make that actual money is from the TV show? They don’t care if they lose 100k 200k on that house, but they make it look so damn entertaining, right? But for you, you can’t afford to lose 200k yeah. So for me, Brad, that was the darkest moment of my life, and the reason why, if I was solo, Brad, if I was solo and I had to go and dig myself out of the hole like we’re about to go bankrupt and lose everything. I’m talking about, everything that LA and I have worked so hard and built for, and it was the darkest moment of my life, bad because it was hard for me to like, How can I tell this woman that believe in me and depend on me to say, bro, Lauren, I fucked up. Yeah, about to lose everything. So it was so hard for me to bear. And when people say depression, Brad, never in my life I’ve I’ve experienced that. But that moment, I felt it for three days, dude, and it was freaking super dark. Anyways, I got down my knees. I pray to God, and somehow, do God answer? Long story short, I got this expired listing. For those who don’t know what expire listing is, it’s someone who tried to sell their house, and for some, whatever reason, they can’t sell it, so they took it off the market. I send this. This is this lady a letter, a bunch of letter in that area. This one lady calls me and she said, hey. Anyway, we negotiated back and forth. It took us about four days or so. I met her at McDonald, nothing fancy. I don’t have an office space. I was still working on my house. Met her at McDonald, signed a contract. I purchased a contract like I locked that property up on a contract for 30 days. I found my buyers in two days. We closed in 15 days. I made $20,000 brand in 15 days. And this is what people call wholesaling, and I was hooked. I said, Wait a second, it’s called. It cost me $150 which is the earnest money deposit, to lock that property in the contract and then sell the contract and make 28k in 15 days. I said, calm, dude, what if you do this one a month, two a month? And that’s what I did. I shut down my fix and flip operation. I just knew wholesaling was the game I want to play. There was just very little amount of risk, very little amount of capital. I wholesale to all my money, wrap up my fix and flip. Now we go and all into wholesaling, and I keep my business breath simple, and I know simple is boring, but boring is what makes you money. So we just wholesale, take the wholesale money and buy rental property. That’s
Brad Weimert 49:44
it. Yeah, that’s beautiful. Wholesaling is one of the most accessible ways to get into real estate, absolutely. Also it’s I like that you just said both because wholesaling is also transactional, correct? So you’re making big chunks of cash and sometimes a real big. And sometimes they’re little, a few grand, but like, you can you are, like you said, you’re flipping the contract, right? But then you’re pushing all that money back into real estate. Real estate, a stored value that you’re trying to cash flow on. Is that the game? Yeah. So
King Khang 50:13
the, you know, the whole, the whole thing with, like, cash flow, passive income. Brad, I think most people are confused, because of everybody the way that they talk on social media, listen. Everybody has an agenda. Every entrepreneur, business owner that I know has the motive. They have a motive to everything they do, bro, like dude, they don’t become successful just because they want to do shit. Every move that they make, bro is calculated. The reason they make that move, bro, is because they know somehow it’s going to benefit them. Everyone has a motive. You need to understand that. Yeah, most people go into the real world be like, Oh man, I thought everybody’s gonna help me, dude. No, your parents. Well, go back to your parents, bro. But no stranger is gonna help you. Like, everyone has a motive to whatever that they doing, whatever it is that they’re seeing, even me right now. Okay, so, so people always talk about, you know, passive income, passive income, because they want to push you a certain way. But let me tell you, this the reason why the rich buy real estate, not for passive income, not for the cash flow. They buy real estate one it’s a tax write off, yeah, so they don’t have to pay 40 to 50% Uncle Sam. Once again, if you make a million dollar instead of paying Uncle Sam, 400k if you live in California, you would have to pay half a million instead of paying that. You take that and you go buy real estate. But that piece of real estate, you know how much they pay, it pays you a month, if you’re lucky, 500 bucks a month in passive income. How do you think that’s going to change your life?
Brad Weimert 51:42
It’s also not fucking passive. It’s not the idea of it being passive, correct? A little bit of a joke. There’s always energy that goes into it. Absolutely.
King Khang 51:50
Brad, and the thing is, dude, the broke people always think about passive income because they’re lazy. Dude, that’s because they’re lazy. They don’t want to build a business. Listen, you’re not gonna get rich by working for someone else, period, like you can now, obviously there is an exception. But who do you know personally? Who do you know that actually worked for someone and got rich, became a millionaire, make millions of dollars a year? I don’t know you, but I don’t know anybody.
Brad Weimert 52:16
Yeah, I mean, the exception of that rule, obviously are like, you know, I see sweet people, a big company, of course, exactly, big companies, shit like that. But let’s just be real like, yeah, the idea is a good one, right? Yeah, for sure, right?
King Khang 52:28
So, so, so if you want to get rich, do the only ways you got to build your own business, okay? And the thing is that, let’s go back to the whole passive income. Once again. You take your 400k you park in that piece of real estate. Best pays you $500 ain’t gonna change your life. You know how many of those rental you have to own to get to the point where you’re actually making 10,000 20,000 and you don’t just make 10 to 20,000 What if there’s, mean, what if there’s repair that comes up? Like, I know the game because I have 14 rentals, dude, I pay I’ve been playing the game for 12 years to realize that all these people taught me the wrong shit. So number one is you got to get rich first, which means, to me, you got to get to the point where, I don’t care what business you want to build, but you got to get to the point where your business is actually making you 20,000 a month. And I’m talking about take home. I’m not talking about revenue and taking home 5k you got to get to the point where you’re wholesaling business, or your Amazon, whatever business you’re in, make $20,000 net a month. That, to me, brand is when you’re ready to buy rental property, because now you’re making $240,000 a year, once again, if you don’t park it in somewhere. And real estate is the best tax write off, and it’s the best place for you to park your money, to hedge against inflation. And what it is is you need to understand that the law the rental game, man, is the long term game. You’re not gonna get rich within one or two year, which means, when I say rich, it means you’re not gonna get to the point where you’re making 20,000 a month in passive income within one or two years. But in today’s world, man, with technologies, AI, software, all kinds of shit, you can make 20,000 a month within a year or two by building a business. By building a business, like I’ve seen it within my own eyes, like you can make 20,000 month by building a business. So that’s how you get rich. Tell
Brad Weimert 54:13
me about the I want to talk about, I want to move to social media stuff, but tell me about the mechanics of how you do wholesaling financially. How does the transaction itself work? Yep. Who’s got the money? Do you do a dual close, one close? How does that work in your world?
King Khang 54:31
Yep. So what happened is, obviously we get so we spend about, I would say, right now, 10 to 15,000 a month in marketing. So we do a majority cold call, SMS, a little bit of direct mail, which means we send them letters or postcard once they call us, it could be an inbound or outbound call we get on the phone. My VA will, will. So here’s how our funnel works. So number one is we filter, we qualify the lead, making sure that, hey, they want to sell their house, there’s motivation. And that sets an appointment for my purchase Manager, which is, you know, the close. Closer. They call that. They negotiate with the seller. We lock our property up under contract. Typically, we lock it up for 30 to 60 days, and all cost us is about every single contract, we put $250 earnest money deposit. That’s how we secure the contract. Once they sign the person so contract, it gave us the right now to sell it Okay, so we got 30 to 60 days to find yourself a buyer. And remember, only costs us two $50 to do this. It could be as little as $10 your earnest money deposit can be as little as $10 and then after that, we go find our buyers. So let’s just say we got on a contract for $200,000 Brad, we found a buyer. And there’s many place you can find your cash buyer. We call them cash buy, because has to be a cash transaction, because we want it to close quick. There we go, bank financing. You know, it takes 4560, days to close, so it needs to be a cash transaction, whether the cash buyer getting hard money, private money, their own cash, it doesn’t matter, okay. But typically the closing can be as quick as three days, seven days, majority of time probably around 15 days. Family cash buyer, we got in a contract for 200,000 let’s just say we’re going to sell to them for 225,000 so we have the buyer sign what’s called an assignment agreement. It’s a one page agreement. They sign it. They’re going to step into our shoes to buy this property for 225 we take the purchase of contract, the assignment contract, we send it to a local title company. They do the rest of the paperwork. They call the buyer up and say, Hey, verify all the information. Yada yada. They wire in the 225,000 200,000 goes to the seller. We get the 25k easy, yep, just like that.
Brad Weimert 56:33
Beautiful. That’s great. I can’t move to social without asking this, because Sure, you run the whole thing with a bunch of vas, all vas. So that’s interesting, too. Yeah. I mean, I have a bunch of questions around that, sure, but like, I want to know the numbers of how you assess properties. Because all of my real estate I have, I’m super active in real estate. Oh, but it’s all location based, so proximity of where things are. You know, the adage with real estate is location, location, location, right? And, but it depends on what kind of real estate you’re doing, sure. So how do you adequately assess a property, not knowing the area, and what’s the math, how much margin has to be there for what you’re looking for? Like, how do you create a box for yourself to buy in?
King Khang 57:18
I mean, it really comes down to if what you want to do right? Do you want to wholesale? You want to fix and flip it, or do you want to keep it as a rental? So typically, for me now, I don’t do fix and flip anymore. So when I look so when a deal comes to my table, there’s only two ways I look at it, wholesale, or do I buy and hold? If I buy and hold, then I’m going to look at location. Gotta be in a good location. Got to be in at least a B neighborhood. I don’t want in the war zone. I don’t want to buy an area where I can buy a duplex for freaking 30,000 you can have more headaches than the 30 it’s going to bring you $100,000 headaches, dude.
Brad Weimert 57:50
I have played that game, and it definitely has, like, like, all these people
King Khang 57:53
that tells me that they bond so cheap and they cash. Well, bro, don’t even tell me I know the stress, the headaches that you’re going through. Okay, so don’t, don’t we try to play that game. So for me, if I was to hold it, got to be in a B neighborhood or better. But if I’m just looking at wholesale, I don’t care where it’s at. I sneak at it lower than what it’s supposed to be. So when we analyze the deal, typically there’s a formula when it comes to wholesaling, Brad, so we take the ARV, which is after we pair value, what does the property worth? After it picks up, we automate automatically. I’ll take 30% off. So let’s just say it’s 100k I’ll take 30% off. Now I’m at 70,000 let’s just say it takes about 10 or $20,000 to repair. Let’s just say it takes 10k to rehab the property. Now we’re down at 60 so I know an investor, a house flipper, would buy this, this thing, dude, 60,000 all day long in my market. So it comes down to is, you got to know your market, and you got to know your buyer, and it takes time to cut, you know, to know that experience, right? And you can’t buy experience. So, so I know they’re going to buy for 60k anything I, anything that I get under 60k is mine to keep. I used to go, I Brad. I used to be okay with making 5000 not anymore for me now, I’d rather get quality over quantity. I’d rather have bigger spread than little baby money. So for me, every single every single offer we put in, we typically want to make at least 20,000 as our negotiating Now, once we lock it up and we know we might make 20,000 but nothing, nothing really true until it comes go to closing, until you get a check in your hand. Man, that deal can blow up on the day of closing. Happens many times. If you do enough transaction due, it will happen. So we will only make less when it’s already in contract. So when, let’s just say, when you’re already in contract, I’m like, Hey, I’m potentially going to make 20k on this deal. We fish it out to the buyer. I came back and then the renegotiating start at this time, Brad, I just want to get the deal done for the seller. So even if I had, even if I make 1000 on the deal, I’ll get it done. But I would never start my offer of just like, Oh, I just want 1000 I just want 5000 I used. To do that, but I don’t. The hardest time is it’s afraid to make the lowball offer. Yeah, they’re embarrassed, they’re shy, they’re feared, they’re scared. They’re like, Oh my God, I don’t want to piss the sell off dude. You never know until you ask. And if you’re and my mentor tells me this, if you’re not embarrassed about your offer, you probably offer too high bro.
Brad Weimert 1:00:19
And there’s if they say yes right away. You probably didn’t go
King Khang 1:00:21
Correct, correct. And the thing is, dude, it takes the same amount of work to make a $5,000 deal and a $25,000 it’s the same transaction. But the thing is, if you making 5000 you have to do five of them, yeah, to make 25k Yeah. For me, I just, I just toss out all the 5k I just focus on one. You do more work than I am, but I just close one deal less work, and I make just as much.
Brad Weimert 1:00:46
And so you just illustrated why realtors are not worth shit. I know I’m pissing off a lot of realtors. Yeah, you will. I’m very vocal about this all the time, but like, Look, you should not get paid a percentage of the sale. It does not take 10 times the effort to sell a ten million house versus a $1 million house. Fuck you on that shit because of your point. Anyway. So I digress. Let’s go to social man. So you’ve got
King Khang 1:01:13
that’s gonna go by right there. You want a virus, you realtor, you ain’t getting three You ain’t getting 3% motherfucker, you’re getting 200 bucks.
Brad Weimert 1:01:24
I’m fine paying more, but it should not be a percentage. I hear you. A percentage I hear you. So you have a couple big social channels I do got, I think, like 600,000 people on Insta right now. You’ve got almost half a million subs on YouTube. Insta is pretty easy to game these days, and you can usually check people’s engagement and see if it’s a game channel or not. YouTube is harder to gain, for sure. So as somebody that has almost half a million subs on YouTube, what is the biggest mistake that people make when they’re trying to grow a YouTube channel?
King Khang 1:01:56
I think the biggest mistake that people trying to make when they grow. The YouTube number one is consistency, impatient, comparison. And I think that majority of the people, because when you start social media, everybody has an intention. What they want to do is to make money from it. It’s the reason why they haven’t blow up, because they’re not focused on providing value. That focus on monetize, and that’s where you lose the game. And dude, Brad, I don’t, there’s so many coaches that I talk to, I look at their thing, I’d be like, Dude, that’s why you only have 5000 follow, bro. Dude, every other day, every day you’re freaking asking. You’re pitching, pitching, pitching. Bro, come on, man, shit. Bro, like realtor, unbelievable. Bro. Ah, man, list your house with me. Why would I, bro? Why would I list your house with me? What? What value have you? You see, people only do business with people they like and they trust. All you do is tell me to list shit with you, dude. Why would I list with you? I could listen. Johnny Bob, whatever it is you see, so you, you need to think of a place where you got to provide value. Like Gary V said, like Alex and Mozi, same thing, dude. They provide a massive amount of value. And if you so for me, Brad, I tell people, if you can delay the monetization, the longer the better. Because when you ask, I almost can guarantee you, you make more money than you were just pitching, pitching, pitching, pitching along the way. And now people would be like, Hey, I have all that already. I’m patient. I don’t need to pitch. I’m ready to go. Execution, execution one. Probably don’t put in enough rep like, bro, you’re gonna suck on your first video. My first YouTube video, Brad, I couldn’t even go back to watch it. I just want to delete a month. I just want to delete it. It looks I was like, dude, but I always say I left it up, just because I can look back and see where, where I started. But your first feeder, dude is gonna suck. And I think Mr. B said this the best, until you have created 100 video, don’t worry about the view. Don’t worry about the subscribe, man, you’re gonna suck for the first 100. Like nobody’s gonna watch it. Just you said, Just do it. But she said, the key here is you need to judge not just look post. Look, dude, you really need to stay on top of your shit. You need to look at your video. You need to analyze it. Hey, I’m getting five view. Hey, what the comment that comes in? What do people say about this? Why does one get more view than this, right? And you need to start getting better watching. And also, too is find someone who’s in your industry, and see what they’re doing. So the width of the you see, because I think with the time span on social media, especially short form, Brad, you got to have a good hook. So don’t stop by. Hey, my name is Tom that. Like, nobody care about your name, bro. Hey, let me show you. Have to pay 25k a month. Okay, I see you. I see you. Bro. Okay, show me. And I think the thing Brad is, I think a lot of people need to is, I think when you first started out, nobody knows who you are, you’re a nobody. So I think you need to build up a lot of credibility. So for people to listen like, why would I listen to Brad? Oh, easy, pay direct, dude, the guy’s a baller. Let’s go right? So I think a lot of times where. I talked to some coaches, and they’re like, well, car, I don’t want to talk about number, man, I’m Private, dude, if you bro, if you decide you want to play social media, they’re looking private. Bro. Yeah, there’s nothing private. Like, I don’t know about you guys who’s watching this, but Brad, when I first started my journey and I want to get rich, I get inspired by the car. I get inspired by the freaking vacation trip. I get inspired by their lifestyle, by the moldy that they make. So I like to describe it like this, Brad, you tell me, I want to get a six pack. You tell me, you got to show me how to get a sick pack. I never see your six pack, bro, how? How am I? How do I know that you have a sick pack? How do I know that I’m doing I’m following the right guy to get the same results, because I want to get your results. That’s why I follow you. But you never show me, bro, dude, I’m just gonna go follow the other cat who actually shows me and I can see it, because a lot of times, dude, seeing is believing. So So I think first, if you want people to listen, you just gotta own the authority first. Hey, dude, I’m, I’m Bob, I’ve done 300 300 deals already. Here is my deals. Here’s how much I make. Yeah, dude, you just gotta own it. And people be like, Okay, I should listen to this cat. And then after that, dude, I think you, when you first start out, you gotta, you gotta prove yourself a lot on social media. You gotta put a lot, dude, you gotta own the space. Have the authority in the space by showing them what you have done, what you have accomplished. I don’t care if you feel uncomfortable, if you want to play the social media game, it’s just how it is. So for me, I want to see your app like you don’t have to flex all the time. But dude, once in a while, bro, lift up your shirt. Let me see that shit. Bro, right? Let me know that you’re real. Yeah. And then all you need to do is, I would say, Brad, spend the first year just provide value. Don’t think about don’t think about monetize. Don’t think about trying to fill a funnel. Don’t think about any of that. Just give a free, free value. And I can almost guarantee you, you build up such a big following, you’ll be like, damn.
Brad Weimert 1:06:53
Tell me about, like, content structure, how much do you do that are really short form? Yep. You know, shorts, reels, etc, versus, like, the three to five minute, yes, it’s 15 minute. Versus, like, full tilt, long form,
King Khang 1:07:05
yep. So, man, I mean, my, my whole thing has changed a lot. Brad, so now with AI, you know, we use this an app called captions. We took the long YouTube video. You post in the link, you click a button, dude, it can chop you up a 32nd a 15 second, a 92nd whatever it is, however long you want, right? And so from now, we just take a YouTube long so I typically try to pump out at least three long YouTube video a week. So I typically do Monday, Wednesday and Friday. Fridays like, could be a Q, a could be a cold call, role play. Wednesday could be whatever it is. I analyze the deal. Monday could be, you know, whatever it is for three long video on YouTube. And then I’ll take that, I’ll upload to that captions, and then it chops up, and then I start posting shorts. But then I start to realize too, is when you, when you
Brad Weimert 1:07:50
modify those shorts at all, or do they come straight out of the AI engine? You
King Khang 1:07:55
know what? I actually play with it. So I’ll watch it. Okay? I’ll be like, Okay, it’s good. It got, it got a good hook. Okay, there’s actually value in it. I’m not just bullshit. There’s value in it. Okay, boom. But I will actually watch every single one of them and analyze it before I post it. Yeah? Sometimes I’ll take two of them and then I’ll clip them up, I’ll chop them up, and then I’ll mix them together, yeah, yeah. I
Brad Weimert 1:08:17
think that’s a really important point, because we’re living in this world of ai, ai, ai, right? And we’re really on the front end of AI doing stuff, sure, but sometimes it just kind of fucking sucks. It’s too Brad,
King Khang 1:08:29
I absolutely agree with you people who wants it easy, who think AI Dave, bro, you, you ain’t gonna build no brain. Bro,
Brad Weimert 1:08:34
yeah. So I like, I like to hear that and clarify that. Oh, for sure. You know that 15 people are gonna hear this and just post a bunch of bullshit. Yep. And in back to your other point is, is the hook? There is the value? Correct? Clip. Is it providing any value? Correct? Where does social content fit into the business model of wholesaling or selling? Education, I
King Khang 1:08:57
love it, so I don’t care what business you’re in. I think most small business owner your guys’s biggest issue is that nobody knows about you. You don’t know how to get attention. You know, like Uncle G, and everybody said, dude, attention is the new currency. Whoever gets the most attention, that’s the one that’s going to win. And the best way to do that is social media is free to post. So what we do is, Brad, we take all of our law, all of our short form, and then we start direct it back over to YouTube long form, because I realized that the more people who spend time watching you, they get to know you, more who you are, because, once again, people do business with people they like and they trust. Why would I pick because there’s so much competition. Why would I pick, you know, Brad over this cat. Why would I pick Kong over this guy who’s doing the same? Because, dude, I’ve been following Brad for a while. I love him. I vibe with the guy I you know, like we have similarities, so that way we build that connection. I’ll be like, Dude, that’s that. If I’m if I’m going to get a mentor, that’s the cat that I want. And I think that’s how a brand, you know, I. A personal brand really outbeats everything else and how it fits into everything. Brad, it’s like, you know, people always talk about, you know, millionaires have seven stream of income, and that’s all false. Okay, I don’t know about everybody else, but I know every self made millionaire that I know, and for me as well, they all became a millionaire with one stream of income, and after that they start to build other stream income, because now they got the money to start leveraging, hiring people, they start to, know, doing, you know, building other things. But I think the best way to actually build multiple stream of income in today’s world. Brad, so let’s just say you’re a landscaper. Okay, so let’s just say you’re doing landscaping, and then also you’d be like, yep, you know, I’m making a million dollars for my landscaping. And now I just want to branch off and do other business, the worst move. And let me tell you why it’s the worst move. Because when you, let’s just say, you’d be like, Oh, I’m a landscaper. Now I want to build. Let’s just say you want to go into Amazon drop shipping. Well, you know nothing about Amazon drop shipping. So you start at Ground Zero. Imagine, just think about this, man, think about how hard is for you to when you first start your business, to build to where it is today. Dude, it takes time, because you have to learn everything new. But the best way to get multiple stream income brand is you just need to teach people to do what you do. And that’s where a personal brand came in. And then you open up to affiliate now, dude, there will be multiple door open up to you. You can do affiliate marketing. You can start selling courses, coaching consultant like, you know, sponsorship. I know that Pineda has a big podcast. People pay him to get onto his podcast. I mean, there’s much more opportunity. And you’re not doing anything different. You’re just teaching people what you already done, which are good at. So basically, kind of documenting your landscaping business journey, whatever it is, so just much easier, less less resistant, and it opened up so much door, and that’s how you’re going to get from a million to multiple millions. So in my personal opinion, yeah.
Brad Weimert 1:11:58
So on the one hand, it’s that your social is about building the personal brand. So you have sort of the Billboard effect, right? People can just see you get to know you you’re out there. Do you have direct CTAs in your social content? Is it just link in bio? Is it link in the description and YouTube? How is it actually routed to sell shit? If it is at all? Yeah, absolutely.
King Khang 1:12:16
Brad, so once again, when you get to a certain point where you build enough followers, you provide enough value, and then you’ll be like, Hey, let’s start monetizing. So a lot of times the call to action, I don’t think like, hey, link to bio is a good one. Most people don’t go, but if you tell them to DM and let me tell you why. So what I just recently figured out about Instagram, Brad, and you can try it on your Instagram, and I almost can guarantee you it will blow up your view and your engagement. So what I do now, Brad is I will direct everybody back to my YouTube. So what I do is I will tell my girl to create an auto respond on YouTube. So I’ll be like, Hey, take this video that we just created. Set up a word, a keyword. Let’s just say YouTube one. So when people comment the word, and then I’ll be like, hey, DM me the word YouTube one. So the more they, the more engagement, the more Instagram will push that video out. Now you’re not selling anything. You’re not pitching them to a cell. You’re not saying, Hey, I’m gonna coach you, mentor you, you push them now to your YouTube. It’s gonna help increase your YouTube view, and they get spent more time with you. And then you can do your call to action on YouTube.
Brad Weimert 1:13:21
So your DM, okay, so walk me through that, yep. So you’re in your Insta post. You’re saying comment below, even
King Khang 1:13:28
on story. Okay, so you, so you so, so you would. So we set up, so we have mini chat, right? Brad, what? You probably know what it is. Oh, yeah, okay, so we set up the keyword for YouTube. One. This is the video I want them to watch on YouTube. So before that, we would have sent them over to a, you know, a landing page of a 15 minutes, uh, VSL, right? A sales page. But I don’t do that anymore. I figured this. This is a way better conversion for us, as turning the view the actual people view, turn into a student. And it helps grow our YouTube. It helps grow Instagram, because Instagram wants engagement. So every single time they DM you or they comment the word whatever it is, if keep on pushing your video out, you send them over to YouTube, and then you do the call to action in your YouTube. So I would like comment the word YouTube one, or DM me the word YouTube one, and then you automatically DM the link to that YouTube video that they can go watch. Love it. Yep, yeah, I love it. And Brad, last time I did that up like, my story has never gone up to like, 80,000 or 100,000 view on my story. Now that’s all we do. I don’t like, I don’t say click the link anymore, because when they click the link, they exit out. But when they DM it, just, it just gets that engagement going.
Brad Weimert 1:14:40
Sick, Yep, yeah, that’s really smart. Awesome, King Kong. I’ve got a million other questions, but we also have a lunch downstairs. Sure. Where do you want to point people? Well,
King Khang 1:14:51
I mean, you can follow them on Tiktok, Instagram, Facebook, YouTube, wherever it is, just go to at real King Kong. Yeah, Kong, I see K, H, A N. Do not like Don. Guthom, I love
Brad Weimert 1:15:03
it, man, it’s been a blast. Thanks for carving out time,
King Khang 1:15:06
Brad, it’s such an honor. Thank you so much. Thank you. Appreciate you, man,
Brad Weimert 1:15:10
I hope you enjoyed the episode as much as I enjoyed doing it. I need your help. There are three places you can find beyond a million. The podcast itself beyond a million.com. Which has some cool free resources, including a free course, and we finally launched the beyond a million YouTube channel. I would love it if you would go there and subscribe, and if you don’t want to, you still will probably enjoy seeing the visual content. Check it out. Youtube.com, forward slash at beyond a million.
