No $50K? No Problem—Here's How to Build Wealth in Real Estate with $1K | Ep 68

James: What if I told you, you don't need tens of thousands of dollars to start investing in real estate? Well, in today's episode on the Furlo Capital Real Estate Podcast, we're going to show you exactly how you can get started with a thousand dollars. And that's because we dive into the intricacies of passive real estate investing, where we

Jessi: invest, where we

James: invest, where we equip people,

Jessi: oh

James: my gosh, where we equip people to invest wisely, whether that's 50, 000 or a thousand dollars.

In both properties and people so that together we can build wealth while improving housing. I got this. I'm James, and this is my wife, Jessi. It's a lot harder than it seems. It

Jessi: is harder. I've tried to say it a couple times, like, in my head along with you, and I'm just like, nope, I'm lost.

James: Thank you for having 60 some odd episodes of saying the same thing, and now I'm messing with it.

You're

Jessi: tweaking it.

Yeah. That is like, I, yep, I don't have any. I was going to talk about gardening and then we were talking about intros and that just didn't flow. Like I want it to flow. Anyways, gardening. You know what happens?

James: Cause, which reminds me, sometimes there's people who want to invest.

That's

Jessi: right.

James: But they just don't feel like they can because they get told by people like me, like, hey man, like you gotta have 50, 000 to get in on some of these deals. Yeah. Well, what I wanna do is I wanna make it so it's possible for more people to earn 50, 000 so they can invest with me.

Jessi: So yeah, here's the bias.

I see what you did there. Yeah,

James: yeah. I want to help people accelerate their wealth building to get to that next level so they can passively invest with me.

Jessi: Okay.

James: So that's what I want to talk about is I've got So like side hustles? No, no, no. These are I'm

Jessi: so interested in like how you're going to tell people to increase

James: their wealth.

So here's eight ways that I was able to come up with. Eight ways. Now, for the most part, you're going to find for a lot of them. If you don't have money What's the other thing you got? Time. Time. Yeah. Or skills of expertise. And so that's what they're gonna involve. So here's a classic one. Okay. That a lot of that, that, most, I don't know when you go to most forums and they're like, I don't have a lot of money. How do I get involved? Number one, to go wholesaling, start doing that. Okay. So what you do is you find motivated sellers, get the property under contract. Usually don't need to do a lot for the earnest money down like

Jessi: a

James: hundred bucks.

And then what you do is you find someone else who's willing to actually buy it and do whatever the investment thing is and you get paid an assignment fee for it. And so you spend your thousand dollars. on either the software or getting leads and that's what you spend your money on. Get a deal and you're off to the races.

Interesting. I actually tell people this all the time, who I'm talking to them, especially like younger dudes who like want to get into them. Like fine, cool, find a property. I'll pay you for it. And you know, as long as it meets my criteria, here's what my criteria is. And like, yeah, I'll, I'll give you a few thousand dollars.

Jessi: I could see, I don't know if I would just like go out on my own and start finding stuff, but I could see what you just said, like partnering with a sponsor who you're feeding deals to and they give you some parameters and criteria for like look for these types of things, you know, and, and learn. By the way, it's true for anyone listening,

James: if you find a deal that I like, I will happily pay you for it.

Jessi: Nice. And yeah, you know, it's kind of like. They're learning along the way, you know, so that as they're growing and investing, which honestly like finding good deals

James: is a massive skill to have just all on its own.

Jessi: Yeah.

James: And so, but yeah, so that's a way to get involved. It doesn't take much, especially if you're driving for dollars.

Sure. There's a, there's an investor in town, super big. I remember talking to him when he was going to Oregon state. He talks about how he rode around on his bicycle looking for deals, knocking on doors. And now he's building multi million dollar stuff ground up and he goes, yeah, that's how he got started.

Yeah. And so, so totally works. There you go. A thousand dollars. I'm stretching this one. I'll be honest. So you can house hack a place. Okay. Okay. So you can use a thousand dollars as a portion of an FHA or if you qualify a VA loan. So a VA loan is often zero down, which is awesome. And you can even. Have the buyer pay for some of the closing costs and obviously you got to qualify for it FHA It's I think it's like something ridiculous like two and a half percent down three percent down.

It's not much low and and so You could do that and then you can Nice part about a house hack if it's like if it's a duplex you rent out the other place Or if it's a single family home you rent out the other Units. Okay. I I did some numbers here Do you remember what our down payments were for some of our early places?

No, I did the research. You're welcome. No, I do not. So for our first duplex, we did 11, 000 down and then we got a 9, 000 tax credit. Yeah, that's right. So it nets to two. Yeah. So it's close. Not bad. Okay. Our one on first Avenue. We did a down payment of 5, 000 and we used our tax refund to do it because we had bought a place earlier and so I do

Jessi: remember

James: that.

Yep. Yep. And then how about this one? Our 11 unit place, our apartment building famously, we did 3, 000 for it. And we were able to pull that off because we had some seller financing. So they're not quite thousand dollar deals, but I want to make the point of like, you can get some super low down payments in there.

Now all of those required work and the cash flows. You know, the return on investment percentage was amazing, but because the down payments were so high, you're like, Oh, the cashflow. So low. Yeah. But so that's one where it's like, you really got to look and depending on where you live, you can make it work.

I think if you're in Corvallis, you're not going to hit that thousand just because the down payments, even at those small, unless you're a VA, then you could do it. Sometimes honestly, like you can partner with a VA. And they qualify for the loan. And you go, cool, we'll partner with this together. Get the VA loan.

Jessi: A VA loan is for veterans, right?

James: So, that's another option. Find, find a veteran who wants to invest and deal with them. Move in, house hack it. Okay. I, I liked, I liked this idea. I thought I was proud of this one. So I do talk about how we have private lenders and oftentimes our minimum investment is 50, 000.

Sometimes it goes as low as 20, depending on the size of the deal, but you know, it's tens of thousands at the end of the day. So what you can do is it's kind of a combination of if you find a good deal, you could say, Hey, instead of paying me for it, let me be, An investor in it. Take that what you were going to pay me and let's roll that into a loan.

Jessi: Okay

James: on this property. Sure, or You can do So there's this concept called a fund of funds. Okay, so you create a Describe it So let's say you only have 1, 000, but maybe you've got nine other friends who all have somewhere in that like 1, 000 to 10, 000 range. You go, guys, let's, let's create a mini unofficial fund of the nine of us to then get the total of 50, 000.

And then we will essentially create a single fund of our funds, a fund of funds. And then we'll go and we'll do a private loan. And we'll split it proportionally and whatever.

Jessi: And as far as the sponsor's concerned, it's one contribution.

James: Yeah. And you can set it up where it's like, Hey, we're going to create an LLC and we're all partners in this LLC of some sort.

Now, obviously there's tax stuff that happens and it may not be worth all that effort. It may just be more like, Hey, we're going to, we're all buds. We're going to create a little handshake thing, whatever. She could potentially do something like that. Or you could just do an LLC and. It should be a pretty simple tax return, but but yeah, that's the, but that's an idea, right?

Find other people who are in your same situation who are interested and you can even couch it. I've seen this where I've seen it for real estate or sorry for stock market stuff where they go, Hey, we're a learning organization. We want to learn about investing and part of what we're doing is everybody pays in to this group that they've started and then we use the group funds to go off and buy stuff and the whole point is for us to learn and figure it out and so I can

Jessi: see that being beneficial for younger people, you know, even, even with the thought of like, I don't know if I want to get into investing.

I only have a little bit of money, you know, let's try something out and see.

James: Yeah, and what you do as a group is you could meet, you know, once a week, once a month, whatever, and you review potential investments, and, and you have the conversations, and, and like all the conversations we've been having, especially that my due diligence download, where it's got that 196 questions, like you work through those as a group, helping each other out, refining each other's skills, and And, and that's the, You're actually investing, making money along the way.

Actually, that's a really cool idea. It seems kind of fun. It's like a

Jessi: co op. Yeah. Well, it seems kind of fun to do it with other people who are interested in investing and learning and, you know, if you're just like, yeah, I got this chunk of cash, but I have no idea what I'm doing, that's a little, you know, it's different.

Yeah. It's just kind of like, huh.

James: Yeah. And usually those groups work really well. Again, if everyone puts in The same amount of money right and then you elect essentially like a president like you make it a club a club President a treasurer secretary, you know all the things and you go. Yep as a group We're all voting and if we you know, you make some rules supermajority majority, whatever.

Yeah to do it. We're doing it Mm hmm. That's how you do it. And yeah, I think that's actually a really cool idea We're doing it. I don't know how to, it'd be fun to sponsor something like that, you know, just to recognize like, yeah, there's a, cause like one of the reasons why we're having this conversation is I talked to a lot of people where they're like, Hey man, I hear what you're doing.

We'd love to get in. I go, so it's like 50k. Okay. Yeah.

Jessi: It's like,

James: Oh man, but you know, what happens is they've got five to 10 grand sitting around and they're, they're in their head going, Oh, is that enough to get in? Not quite. But you know, maybe. Yeah. If you pull it together. So you're

Jessi: telling me there's a chance.

Laughter

James: Oh man. I'm going to try hard not to go down the dumb and dumber quote rabbit hole.

Jessi: It really helps, duh.

James: Oh, I love that song. We've been telling our kids about the most annoying sound in the world. But we have yet to tell them what it is. Just that it exists. They keep guessing. It's like, oh, not that.

I'm excited for when Oh, that's great. So yeah kind of a co op group fund of funds, essentially people just learning. And I think it works really, really well if you pair it with like, Hey, we're a learning organization. That's the whole point of this. All right. Next one. Here's another classic is you can invest in a REIT or crowdfunding.

So REIT is a real estate investment trust. They're essentially publicly traded funds, so you can buy the stocks and oftentimes you can get in for less than a hundred bucks.

Jessi: And it's. Is that similar to a stock market for real estate? Yeah, almost

James: exactly. Okay. Like, you can, you can go to Robinhood, put some funds into the account, and search for REITs, and you can buy them, and it's just like going in the stock.

And then, they pay more dividends, like, I can't remember what the rule is, but they gotta pay out, like, a significant proportion of their revenue as a dividend. Interesting. It's like, let's qualify as a REIT. So, how do you

Jessi: make money from that? There's no tax advantages. That doesn't I guess I don't understand what a REIT is.

Well, invest 100,

James: and they go, Hey, we have a return of 6 percent each year. Or 7 percent or 9%.

Jessi: Like, what are they doing with the money, though?

James: They're doing exactly what I'm doing. Just at a much bigger scale.

Jessi: Interesting.

James: And what they've done is they raised a bunch of funds, publicly, and they go, Yeah, we created a billion dollar fund, and we're just churning that over and over

Jessi: and over again.

Interesting.

James: Yeah.

Jessi: Strange. So you don't exactly know Which deals are happening.

James: Oh, you don't. Yeah. Outside of like, you read their prospectus.

Jessi: Sure.

James: Yeah. I like Blackrock is one of the biggest and they're buying like single family homes all over the country. If

Jessi: you want to be like totally passive, you could, you could do something like that.

Just put money in and you get a return. Huh? Yeah. So what's the benefit of going with a sponsor and doing something

James: again? Usually their returns are like 69%. You can earn more. Slightly lower. Yeah.

Jessi: But you don't do anything really

James: You don't yeah at all weird. Yeah, I think it's less fun. But yeah One that's kind of a middle ground people is there's platforms like funder eyes that it's like crowdfunding So they will actually have a specific deal That you invest in and you can do something as low as like a hundred or a thousand dollars.

Huh See what happens is for investing in real estate. It's considered a special kind of security thing And so there's a bunch of rules around it and so they limit the number of investors that like people like me that I can have in it. I can't have just like a thousand people on it unless you get publicly registered with the S, registered with the sec, pay all sorts of stuff, have all sorts of checks.

Well, there's platforms like Fundrise that have done that. So they go, yeah, we can essentially let anyone invest any of the time. It's like a quasi public be traded type of thing. So you can go to their website. They have specific deals. You go, yeah, I'm interested in this one. Boom. I'll fund it. And then once they get it a hundred percent funded, they take your funds and.

Then that sponsor goes off and buys the property. So I could have a deal that I. Bring on to their platform.

Jessi: Oh, so it's, it's different sponsors like partnering with Fundrise. Yeah, Fundrise is just a, just a software platform. They're just like the face organization. Yeah. Who's jumped through all these hoops to be able to take money from different people.

Mm hmm. Interesting. That might be worth trying at some point just to, just to see.

James: So I looked into, like, as an investor or as a sponsor?

Yeah, I looked into being a sponsor. They I, I don't qualify. Oh. Yeah.

Jessi: You have to

James: have done. A ton of experience. Oh. And they only do, like, They don't do value add, fixture upper types of deals.

They want the A class, just buy and hold, super simple, boring. Sure. Well, they want to mitigate

Jessi: their risks.

James: Which is fine. They're allowed to do that. Yeah, different philosophy. So that's another one. You can look at their overall return. They've got all sorts of charts and stuff. But Fundrise, they're the big dog.

There's a bunch of them out there. But they're the big ones. So cool. Alright, number five! I like this one. Partnering and sweat equity. We talked about sweat equity a few weeks back. That's right. Oh, so good. We're essentially, that's, this is where you are trading your time for experience. So find a, find an investor and you go work for them.

Or you manage their properties or you find deals. Whatever you do, you, you essentially say, I don't have the money, but I got the time. Let me, or some sort of skill. Let me help out doing it. And so like here's an example of ish. I, there was, so we bought a mobile home for a dollar. We fixed it up for, it's currently for sale which is cool.

While there was another mobile home in this park that they were willing to sell for a dollar. I did the math for our model. I was like, this doesn't work. It's not worth a dollar for us, but I happen to be talking to a brand new investor who was like, I want to get in. I've got all this construction experience and he had some cash hit a little more than a thousand, but he had some cash.

And I was like, awesome, here's what you do man, let me give you this lead, pay me for it, and then you go off and fix it up, because his labor was essentially free, and the profit is what he pays himself, and, and so, When he sells it, yeah, yeah, and so he could just do it a lot cheaper, because he wasn't hiring other people, he could go faster, all that fun stuff.

Yeah. And so, so he's doing the deal, which is super cool, but it's a way for that. He was able to get into the deal super cheap. Now, in this case, he has to fix it up and so he has to have more cash. So it's not a thousand dollar deal, but like, you know, in theory, he could have bought it for a dollar and then he could go get a loan to do all the repairs if he wanted to.

Jessi: Yeah. Depending on how much he's going to sell it for.

James: Yeah. And he could get a loan against that that mobile home once he owns it. So. That is an option that he could do, so there's a way that you get in. But my point is like, that's kind of his partnership. Honestly, that's more like the other side of it, more of the more of the house hacking kind of.

But but the, my other one was just like, you partner with someone. You know, hey, let me help you, let me come alongside you, let me add value to whatever it is that you're doing. And, instead of paying me, why don't you give me equity, or do pay me. And, you know, you just have to learn. I'm, I'm, and I'm learning along the way.

That's valuable. I am, by the way, in the process of wanting to hire someone an office administrator slash property manager assistant type of role. So if you're listening to this and you're like, I would like to get in, I would like to help. I am interested in learning more. Hit me up. Let's talk.

I'm interested. I'm hiring. All right. Number six. This one I think is fascinating. It's you can control without ownership. So there's a master lease with an option to buy. Okay, I actually really like this one from a creative

Jessi: standpoint. Seems complicated.

James: I know, it's, it is a little bit. So, typically, let's say you find a fixer upper.

You buy it. You get a lot of money. Yes. You fix her up. Spending more money. And then you either refinance it or you sell it. Right? Yeah. Well in this case. You don't buy it. Instead, you lease it.

Jessi: Okay.

James: Okay. And if it's a multi family, you just lease the entire building, not just your one unit. Huh. Even if it's a single family home, you lease it.

But then you have an option to buy it in the future for a price that's already been determined. Mm hmm. So, let's say fixed rubber, right? Let's just use some round numbers here. In its, in its totally fixed up state, let's say it'd be worth 200, 000. Mm hmm. And in its current whatever it's, 150, 000, right?

So you go, Hey, I will buy it from you six months from now for 150, 000. In the interim, I want to rent the property from you and I'm going to pay a normal mortgage, right? Maybe you do a thousand dollars as your, your earnest money, your lease fee. And now you've, now you do have a regular rent payment that will be coming up for the next six months.

And in that time you can go fix up the place, make it more valuable, get it to that 200, 000 level or, you know, whatever, right? I mean, again, we're trying to do is pretty cheap. So you're maybe not doing a full gut. You're maybe painting or doing a few other small things. And then once it's more valuable, then you buy it at that more valuable rate.

And ideally, the loan that you get is going to cover, like, so you're going to buy it for 150, 000. But when they do the appraisal, they'll be like, hey, this thing's actually worth 200, 000. Cool. So the bank goes, awesome, we'll give you a 75 percent loan to value for this.

Jessi: 150,

James: 000. So you've now picked up this place for essentially no money or very little money down.

Jessi: Yeah, that's interesting. Do you have to, like, I'm guessing that it's part of the terms with the seller, you know, that you're agreeing. If they're agreeing to let you lease the place, they're also agreeing to let you make Yes. Changes, fixes, whatever. Huh. Huh. Like

James: you're not just. Which for me I'm kind of like, A, you gotta have a track record.

You gotta be able to like. Sure. Or at least maybe partner with someone who does. You know, for me I'm like, I'm gonna make this place better. So even if I don't buy it, you now have a place that's worth 200, 000.

Jessi: Right. Sweet.

James: They got to trust me that I'll actually be able to do that. So, you know, there's that.

Jessi: That's interesting.

James: Now again, a thousand as extreme, right? Like honestly, if you have like 10 grand, oh my gosh, world's your oyster. You can do so much. You can do all these strategies a lot easier. Sure. But like they're out there. Yeah to do that when you can. Yeah, my point is you can control the property You don't have to do the purchase up front.

Mm hmm. You can do a lease to begin with Yeah, and then eventually that converts into

Jessi: yeah, that is an interesting concept.

James: Yeah, we've thought that by a lot of people. Actually, I'm in the middle of a deal. That's exactly what we're doing Hmm is is a lease with an option to buy now, we're actually not gonna do.

All right, how about this? We're not gonna do any repairs to it other thing. We're gonna clean it Because he was ready to just get out of it and so we're like, yeah, I'll tell you what we'll lease it now He's got mortgage payments. We're gonna pay though. So it's not a thousand dollar deal And we actually gave him 20 grand up front Like we're gonna have this this eventually goes towards the purchase in the once he moves out We will then make his mortgage payment for him and we just we put it on the market and we're like, yep we're just gonna sell it and It's we bought it at such a rate where we can then Offer it at a, as a good deal to someone else and then they can go in and fix it up and capture all that sweat equity.

Jessi: Yeah.

James: Interesting. Yeah. So that's where we're buying a 300, 000 place for 20 grand.

Jessi: Yeah. It is kind of complicated, but also it makes sense. Yeah. Spell it out.

James: Yeah. Yeah. Oh,

Jessi: okay.

James: So that's the idea. And it's just a question of how extreme can you get? How well can you negotiate it?

Jessi: I guess you're for the right person.

That makes a ton of sense.

James: All right. How about this one? Land flipping using seller financing. So it's same concept. So I once flipped a piece of land, bought it in Indiana. Eventually we'll do a podcast episode and I'll break it all down. It'll be great. But the idea was, I went out, I did a bunch of letters.

I just want to cash upfront. And so I paid him 40, 000 cash and then I turned around, put it back on the market the next day. A few months later, sold it for a lot more. I had got like a 63 percent return on it. It was fantastic. And that's not even like that was the annual return. I should do the math on what the monthly return is.

Oh my gosh, that'd be ridiculous. Anyways but sometimes you don't have to pay cash. Sometimes you get land owners who are like, you know what? I'll take, I'll take seller financing. Like give me a down payment. Could be as low as a thousand. Again, this is really aggressive. But it could be, it could be a really low number.

They'll do financing for the rest of it. And then the interim. You turn around the next day, list it, do a great job marketing it and resell it. And, and then once you sell it, you go cool. Like I'm going to pay off that seller note from this new sale, you know, from the proceeds from the sale. And so it's a way for you to buy a piece of land and land is nice because It's nice for a couple of reasons.

Number one, it's often cheaper because there's no building on it.

Jessi: Yep.

James: And number two there's not a lot of competition out there. People don't do it. Hmm. And I'm, part of me has been like, that I'm in the flipping game. I'm like, man, I should really like, I start looking at land again. Hmm. Cause it's

Jessi: Yeah, and the It's nice.

The thing about it is like, initially you look at it and you're like, what value does that add to anybody? Yeah. You know, like why in the world are you buying this and selling it for more? Like Really, but if you look at the scenarios of like who's selling the land and what they actually need and the timing of things Often they have a need that you're meeting right as far as like they inherited this land They they don't want to manage it.

They don't want to sell it. They don't want to build anything on it They just want to get rid of it and get the cash out of it, you know, or various other reasons. You know, they, they're older and they don't, they can't develop it anymore. And it's part of their retirement plan or, you know, who knows. And so what you're offering them is actually good.

Right. For the person, for the seller. Yeah. And then you're flipping it and the value that someone sees in it to develop or build or whatever, lease it. for something. Yeah. Like you're connecting the two. Yeah. So you are adding value and making connections, making that bridge. I, I had to like wrap my head around what, why it was good because initially I was just like, so you bought a piece of land and sold it for more like you did nothing.

to this thing. And I was like, okay, that's not exactly.

James: I helped resolve an inefficiency in the market. Sure. Yeah. Yeah. Yeah. Yeah. No, there was a person. She needed cash quick because she wanted to move to Mexico. She inherited a piece of land, so it was debt free for her. And so she just wanted out. So I was able to do that.

And then I had the staying power to hold on to it. And then eventually it was a couple moving from California was like, hey, we want to buy our dream house and build our dream house. And I was like, sweet. Where you get the land is important. There's all sorts of stuff around that. And you just want to educate, educate yourself on what it is.

What is it? Jack Bosch? Land flip profits? Or profit land flips? Or, I think those are three words. You too can flip land. Profit generator? I don't know, man. I, I took this course and it was awesome. That was what I used. Yeah, I

Jessi: mean, you were able to Yeah. Follow the steps. Yeah. Yeah. Do it.

James: Yeah. And you can do it for, I, again, thousands aggressive.

If you've got 10, Oh my gosh, you can totally no problem. But but yeah, I know you could totally do it for a small sum of money. Yeah. All right. Here's the last one. This is actually the one that you thought of eventually invest in yourself.

Jessi: Oh

James: yeah. So. You got a thousand dollars again, as I've been talking about, these are all super aggressive.

One of the things that is probably the less aggressive things to do is invest in yourself, right? Improve your skills in your job or your trade so that you can earn more. And I just like. There's obviously there's a ton of them, but some that I was like, man, these are in a lot of high demand right now is like copywriting despite AI.

I think if you're actually good at writing, I think that's a huge skill to have just becoming great at sales, right? I think is huge getting good at like Google, Facebook ads, managing all that, figuring it out. I have now spent enough time with it. It's. Crazy confusing. I've spent hours dialing stuff in, trying to figure it out.

It's finally, it's finally working. Which is great. I actually had two people. I got two meetings this week of people who clicked on, they clicked on a Facebook ad. Went to our website, filled out the form. It's very cool. Yeah, yeah. So so it's working. But I spent hours trying to figure it out, which is now a skill that I have.

Imagine if you were someone else who were like, Hey James, let me help you optimize, figure out your ads. I'm gonna learn all this. So you can do it. Video editing, I think is like video. Turns out it's a thing it's going to stick around or like construction skills. And I think there's another. Good skill to have and you know, you're talking about a side hustle, like man, if you could learn how to tile, like, man, you got yourself some weekend projects that you could do for the rest of your life and turn it into a full time gig and make a lot of money doing it.

So the point is invest in yourself and your education and skills that will just earn you more. And they may be related to real estate. They may not be in my case, I they're all related to it. And so it kind of. It all, you know, stacks on top of each other. Kind of related to that too, I had some books that you could read if you were like, you know, that's way less than 1, 000 to start

Jessi: your education, right?

James: Never split the difference is one that's all about negotiation. That's a huge, especially for like, if you are doing sales types of stuff, really good. If you are eventually going to get into doing active real estate, really good. Pitch Anything, by Oren Klaff, is another really super entertaining book.

It teaches you, again, it's more like a, those are two sales types of books that work really, really well for real estate. But I think it's worth it investing in, say, an online course. I don't know, okay, one like I'm going through right now is learning how to get your drone license so you can use that for real estate stuff.

Jessi: Right.

James: Course I'm taking, I ended up spending a couple hundred dollars on it because it was just so much better than everything else that was out there. I'm like, yeah, it's worth the investment. Yeah. And then you invest the time. Right. And I, I'm not gonna my intention is to use it for my existing business to add value to my clients.

Right. Not to Go out and actually earn money directly. But if you

Jessi: didn't have that, you could, you know, offer to make videos for other people.

James: Yeah, yeah, yeah, exactly. So, I think that's That's the super value one spend 1, 000. That's investing in yourself is probably one of the highest ROI activities that you can do Just because you get such outsized returns for it.

Yeah, it's usually like even though I saved it for last Like honestly that might be like my first thing Yeah, which a lot of these things that I'm talking about in order to do them Well, you're gonna have to educate yourself. Anyways, you have to do the research read the book talk to people figure that out so you don't mess up because you don't have a huge margin for error.

And so that's, that's it. I don't know. What do you think? Was it legitimate?

Jessi: Yeah, what it makes me think of is like, just going back to the very fundamentals of finances and personal finance. And it's like, okay, you know, if you don't have This chunk of money, take a look at your expenses and your income and make some adjustments.

Like those are the two lovers. So yeah, investing in yourself and finding ways to grow that income in creative ways and interesting ways is. It makes sense.

James: Yeah, totally. To do

Jessi: the full, the full loop from the beginning. I was talking about gardening. I think I was talking about gardening.

James: Well you wanted to and then you opted not to.

Oh,

Jessi: that's right. That's okay, go ahead. Anyways. I was talking to Eleanor about a little side hustle. Okay. And cause she has always loved playing in the mud, making mud pies. And so, She's a side hustler. She is a side hustler. She's like, I got

James: hope she's gonna follow in my footsteps. We'll see. I, I,

Jessi: she might.

Like, she gets the idea of like, I can create something valuable. I can set a price. Someone will pay me for that. And then I can invest just a little bit of that, but I can keep the rest. It's like, oh yeah, you totally get this. So, she was talking about monetizing these mud pies. Okay. I was like, dude. Yes, this you're on your way like we invested about ten dollars in flower seeds She's gonna make mud pies and include flower seeds in them Oh And then so each of the mud pies that you can plant and then it grows wildflowers Wherever you plant this mud pie and she's like, okay So we just, we pay like 10 bucks for these flower seeds.

If I make like 50 mud pies and I charge a dollar for each, I made money. I'm like, yeah, you did, and you're selling dirt. Like, this is brilliant.

James: She put in the

Jessi: time and effort. And seeds, and seeds. Yes, right. She put in some sweat equity.

James: Interesting.

Jessi: Oh, yeah. She totally gets the concept. You have different types of mud pies.

Right? Plant types. You have different, different seed types. You decorate them differently. I feel like you have multiple pricing

James: tiers. You can pay like 2 and you know what you're going to get. Or a dollar for the grab bag. Surprise pie!

Jessi: It's a weed. Surprise!

James: You don't want to do that, you'll make your customers angry.

Oh

Jessi: my gosh, a dandelion pie. It's

James: a fennel plant, you're welcome.

Jessi: Does it take you over everything? Yeah, no, that would be, that'd be awesome.

James: Interesting. Yeah, no, exactly. That's the exact, there's the idea, right? Yeah, exactly. Yeah, I love it. It's going to be awesome. Well, there you go. So that's what you can do again.

I really hope that we showed you exactly how you could get started in real estate with only a thousand dollars. It's not easy, I'm not pretending that it is, but it's definitely possible, you don't need tens of thousands of dollars if you're willing to invest the time and effort to learn how to do things, to put in some work, you can definitely do it.

Now if you happen to have 50, 000, or you've got a group of friends that you can pool money together we got some interesting deals that you might find interesting to look at. I would love to talk more with you about that. And so you can check us out online at furlo.com. Just learn more about our investing thesis and what it is that we're about.

And even if you don't have it, I still love the chat. Cause I love talking about real estate all the time. And I can even point you in specific directions, given your proclivities and what you're interested in. So with that, thanks for listening. Have a great day.