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Oct. 31, 2021

66. Flipping, Crypto Mining, and Real Estate with Chad Wittfeldt

66. Flipping, Crypto Mining, and Real Estate with Chad Wittfeldt

Join Mike Cavaggioni with Chad Wittfeldt on the 66th episode of the Average Joe Finances Podcast to discuss flipping, cryptocurrency mining, and real estate investing. Chad started his journey as an entrepreneur early, flipping anything he got his hands on, then began trading stocks and currencies in his teens and later became very focused on passive income creation. He currently focuses on two real estate businesses and cryptocurrency mining. Today, Chad shares the trials and tribulations he pushed through to get to where he is now.

 In this episode, you’ll learn:

•       Chad’s exposure to the rich that got him started into flipping cars and motorcycles

•       An expensive lesson taken and learned from a failed business

•       The catalyst that drove Chad to invest in real estate and the relationships built around it

•       What is being done when mining, staking, and mining cryptocurrency

•       Attraction-based marketing and automation to build credibility, authority, and platform

•       And much more!

 About Chad Wittfeldt:

Chad is an entrepreneur and a real estate investor. He started his entrepreneurial journey at a very young age. He quickly got started investing in equities and currency markets in his teens and later moved into real estate investments. While real estate has always been his interest, he didn’t know how to get into the market at the time effectively. So he put his skill set to use and has since syndicated over $30,000,000 in apartments.

This growth later spawned his marketing agency, where he serves other entrepreneurs by building their attraction-based marketing systems and automation. Today, Chad stays focused on his businesses, creating cash flow, and living a life they told him he couldn’t have.

Find Chad Wittfeldt on: 

Website: www.chadwittfeldt.com

Facebook:  https://www.facebook.com/chad.wittfeldt

LinkedIn: https://www.linkedin.com/in/chadwittfeldt


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Transcript
Average Joe Finances:

This is average Joe finances podcast, episode 66. If you're watching this on YouTube, make sure you smash that like button and click subscribe for those of you listening on a podcast, but be sure to subscribe on whatever platform that is and leave us a rating. If you can, the more likes ratings and subscriptions that we get, the more we can spread the message and grow our community. So we also have a free Facebook. It's called the average show, finances network, check us out, join the group, join the community, ask questions and become a part of the team. All of our other social media accounts are listed in our flow page and we have them in the video or podcast description below.

Chad Wittfeldt:

And I remembered there's one day I was looking around and after driving this guys Z six Corvette with 23 miles on it, and he wanted me to go do a burnout in the. In front of all these people. And I never forget that feeling in my life when I just realized, man. Something is very different. Heck here. Something's very different. Right? Welcome to the average Joe finances podcast. Are you trying to get out of debt invest or just not sure what a start then? This is the place for you. We discussed different ways to get out of the rat race and build your wealth. Join us on this wild ride to financial

Average Joe Finances:

freedom. Hey, how it's going everybody. So today's guest is Chad. And Chad started his journey as an entrepreneur at a young age, flipping anything. He can get his hands on. So as he got a bit older in his teens, he started trading stocks and currencies. He later became very focused on passive income creation. He pushed through some trials and tribulations to get to where he is today. So now he spends his time focusing on his two real estate businesses, as well as mining, staking and trading cryptocurrencies. So, Hey Chad, awesome background, man. I'm super stoked to have you on the show. Thanks for having me on. Yeah, absolutely. I'm going to start this off the same way I start every episode off and I gave like a brief background about you, who you are and just, but it's very minor, not too detailed. Right. So if you could go into a little bit more detail tell us about your story. You know, who are you? How'd you get started?

Chad Wittfeldt:

Yeah, absolutely. All right. So I got started in this world of entrepreneurialship and cashflow creation. When I was 17, I got a promotion at this country club, right. And I started off bunk busing tables. And this was a pretty, a pretty affluent country club in in Michigan. And I worked my way up and started getting into the men's grill right in, which was like, that's where the high rollers came and hung out at this place. And so started building relationships with these guys and everybody knew I was a car. Everybody knew I loved cars. So every other week, someone had a brand new allocation, whether it was a Porsche brand, new zero six Corvette, brand new audio And these guys would come in and look at me and say, Jay, I got this new car. Go take it for a ride. Meanwhile, everybody else that was around me, even family, friends, their parents. They're all in the Chevy. Malibu's, you know, the cruises and I remembered there's one day I was looking around and after driving this guys Z oh six Corvette with 23 miles on it. And he wanted me to go to a burnout in the parking lot in front of all these people. And I would never forget that feeling in my life when I just realized, man, something is very different here. Something's very different. 'cause I wasn't, I was never exposed, not only to that level of wealth, but also the level of freedom these guys had because they were coming in on the Tuesday afternoon, Wednesday afternoon, having drinks, lunches with their friends, they're playing golf, whatever. And so that's really where it all started. And I got started like just flipping anything I could. So right now I'm 27. From 16 years old to 23 years old, I had owned over 80 cars, flipping them over 25 motorcycles, flipping them. So I was started plans. What's that?

Average Joe Finances:

Flipping cars and motorcycles for real?

Chad Wittfeldt:

Oh yeah. Anything I get my hands on so I was just like, if anyone, I knew had a problem. I wanted to solve it with my hand out and make some money, dude, all I cared about like growing up at that age was getting paid and you know, and then I started getting, getting started into trading and stuff and started a business with this, with this guy kind of left me high and dry that I feel like that's a whole nother story. And so when I was moving to Colorado at 23 I. W lost all my capital from that business. I lost all my capital. And so here I am in a new city trying to get it figured out. Right. I lost my business, all my money. And I went to a bike park and I met this guy and I just wanted me to meet a new friend. Right. I said, Hey man, there's a sweet bike. You got, and we start talking and I said, what'd you do? He goes, oh, I'm starting to work with these guys. We're going to try and buy some apartments. It's like, no way. I've been wanting to get in real estate for a long time. And so long story short while I was closing my first apartment deal, 83 units. I was parking cars and valet downtown Denver to pay my bills because I had nothing, man. And so that's, so when you're in that, in that story, it's the trials and tribulations you're referring to earlier. And that was a very pivotal moment in my life that tested who I am. Right. And so since then the snowball is just kept rolling and it's, it's been a really fun. Fun ride and the journey. So there's a lot to unravel here. Right? So you probably saw me jotting notes and stuff as you were chatting. So you started off, I'm going to rewind all the way back, right? So you said you were flipping cars and motorcycles, like, okay. I got to ask, how will the hell do you flip cars and motorcycles? I mean, vehicles are like the one thing that, you know, when you look at it, you buy it and it just constantly goes down in value. So what are you doing? Actually, before you start, I'll share a quick story with you. So I bought a 2005 F150 a couple of years ago for $7,000 from friend of mine, right? It had at the time, I think 67,000 miles. I sold it two years later with 72,000 miles on it for $9,000. So I wanted to make an a $2,000 profit on it. But really realistically, if you think about it, it's more than that because I was driving it for free for two years. So with that being said, that was like walk because truck values went up because, you know, there wasn't that many in inventory in that particular area of Virginia Beach. So that worked out for me. So how that. Did you make a business out of that? Because that was like a one-time fluke for me. Yeah, for sure, man. I was so it, it started pretty young. My old man. Would do this things like change brakes, change, oil change strategy. You'd do it themselves on his car, my mom's car and my sister's car. And so by the time I was like eight years old, I was out there in the garage wrenching with my old man. So I grew up around cars and motors, my whole life, and very, very quickly developed a passion for. To the point where I can go through a car pretty quickly and know if it was a goodbye, you know what I'm saying? So, and where I really made the money was in the deal I made the deal happen. And so I'll tell you a couple, couple things I did at that age that taught me a lot about business is I played to the deal. So for example, since I was young F almost everything I bought, oh yeah, this is my first car. You know, I'm still excited. I've been working so hard and saving up for this car inside, Hey, people in their sweet spot, you know, and the other thing that I would do, I had a BA I had a business partner that I did this with. So he grew up same way, right down the block. And so we did this together. And so not only were we able to split our time, but also our capital, which, you know, as his 18 year old kids, we're also working and making decent money for an 18 year old kid at her other job, which gave us the capital to get into these cars. And so what we would do is we would, we would set an anchor and we would, we would have like a Google voice or like a TA a different text number. And we would text the seller from from a different number and anchor them with. Right. And then you come in on your real number on a different phone number, and now it gives you a little bit of leverage on that backend. Right. And so that worked pretty well for us too. And I'll be honest, man. Like, it seems like growing up in Michigan, right? Like it's the auto capital of the world. Like the, there was just so much inventory. It just felt so easy to do. There's so much volume of places to buy, buy cars

Average Joe Finances:

with such a large inventory, man. That's gotta be tough when you go to resale because. There is such a large inventory, right? So like what, what did you do to compete with, all that inventory

Chad Wittfeldt:

Used car sales is pretty easy because people are really, really bad at selling their stuff. They go and take pictures. It's half dark out the cars that they're taking pictures of the car is completely filthy. They're not, they don't show the interior or the description socks doesn't even list the miles. Right. Like, so

Average Joe Finances:

all, I haven't seen a property listings like that too, man.

Chad Wittfeldt:

Yeah, yeah. On FSBOs. Right? Like it's the same thing. Like all I had to do was just be, just be a good seller. And it made it so easy because the bad sellers are not only so terrible at listing their product, but they're also really bad at selling when somebody messages them or calls them, or emails them to come and view that product. They're terrible. They don't even know that they're rude. They're short. I was just, I was just good at sales and I was good at buying. It was easy, easy arbitrage, and I never bought anything that needed major work. I never bought anything that needed a motor or needed this, that, and the other thing, it just needed to be presented better. And so it was easy to find some, find some equity on those kinds of deals. You know what I'm saying?

Average Joe Finances:

Yeah, for sure. I mean, presentation is everything. Sometimes, 90% of the battle is won if something looks more appealing than, you know, the other guys. I mean, you could be selling $500 more than the guy who's selling the same exact car with almost the same exact miles, but you've got better aesthetics. Right? So people looking at your vehicle and they're like, oh, you know, this actually looks real clean and upkept well, they look the other one like. If I got this car, I got to go get it professionally detailed. There's there's the $500 difference right there, but I don't have to worry about this stuff because this guy's, you know, he's got a top notch, so. Okay. Yeah, no, I see that man. That's that's that's pretty awesome. Okay. So let's fast forward a little bit, right? A little further up, right. So you said at 23 years old, you moved to Colorado and you had another company, right? Was, or was this the same thing? What were you still doing? The vehicle flipping? Was it something else?

Chad Wittfeldt:

No, I, when I moved, I decided to go, I did go to. And so when I moved away to college, I stopped flipping vehicles and then I started flipping electronics. So if you had a broken phone tablet, laptop, didn't matter. I want I'd pay you cash. College kids love getting cash for their broken laptops. And I go sell them on eBay. I did that for a couple of years. Did pretty well with that. And then I got into, got into trading currencies got pretty good at it. Started a business with this guy. And when I was moving, I gave him access to my trading account because there was two trades I wanted to take and it didn't make sense. They were like high, high, high volatility trades and it makes sense to put pending orders or nothing like that. Long story short, you know, I didn't do my due diligence on my business partner and he blew my trading account, which again, shame on me. Not only did I make that first mistake, but I also made that second mistake that I was trading with every dollar I had to give myself a proper leverage and liquid. While he was had a gambling problem, you know, had had back child support problems. And but he was trying to make a home run on my account. So they offered him a part of the profits and he blew my entire trading account. And that was 20 grand at 20 22, 23 years old. Every dollar I had all the, you know, After putting myself through college, hustling my butt off for 10 years, you know? And so then I had to start all over man. And that that, that taught me a lot going through that.

Average Joe Finances:

Thats a tough lesson, but you know what, it's funny because I literally, I was just interviewing another guy. And one of the things we talked about was some of these expensive lessons that we learned. Right. And we were talking about failure. A failure in your business or some type of failure, and you know, one of the things I said to him and, and, and this, this fits right into this man, which is really awesome, but like a failure is only a failure if you didn't learn from it. Right. So if you turn around and you go do it again. Yeah. That dude come on, that's a failure. But if you failed at something, you learned your lesson, and it might've been a very expensive lesson like you experienced. But it was a learning experience for you? And it's something that, you know, you'll never frickin do again, then that has more value than what you lost. You know what I'm saying? So there's, there's value in that. and thinking about your age at 23, you know, just finish up college, moving to a new town. I mean, this is probably. , one of the biggest turning points of your life, I mean, cause to lose everything, as you're starting back over and then being able to put yourself back out there, like you did when you met this guy right? And when you started talking about getting into real estate investing, there you are, again, hustling, valeting cars and all of that just to, to make ends meet and to be able to put money into your first apartment right? So that's, that's amazing, man. That's amazing. The thing is that about you and your story that we're talking about here is that your hustle and your drive has never changed. You've had that drive and that motivation this entire time. So your, your mindset has been the most valuable asset to you because that's like the number one thing that is pushing you and driving you. I just want to say, Hey man, that's for everything that you went through, just well done, because if I lost everything at that age and man with the way that I was thinking back in my twenties, It'd probably be a wrap for me. That'd be it. I just, okay, well, so I'm going to be working for the rest of my life, man.

Chad Wittfeldt:

That was, that was the tough thing though. Right man, like this there's a couple of things in it, you know, like you said, I I've had that, that mindset of hustle, but my Mo that it's never been tested like that before, because you know, while, while I didn't grow up with a family was Maseratis, Lamborghinis and Ferraris. I always had a roof over my head growing up. I never knew, I never knew what struggle was as a kid. Right. I was fortunate enough. I never knew what struggle was, but it wasn't until I was that that happened when I was in, you know, 22, 23 years old then I knew what struggle was then I, at that time, I know how it felt to not know how I was going to pay my rent the next month. Not, not a lot of people feel that. And the people who do. Often we'll think a little bit differently. Right. And so I got, I experienced that at a later part in my life. And that's really, really when my mindset and, and my perseverance was tested more than ever before my entire. Specifically because do it in Denver when you're out parking cars in the ballet and it's snowing and sleet in minutes, 20 degrees. And you know, some, someone gives you a 50 cent tip, man. Oh my God. I will never forget that feeling. When I was sitting in this parking lot, I could barely feel my toes. And I was just, I told myself, I will never be back here again. I'm going to do whatever it takes to never be back here again. And, you know, there was days where I wanted to quit, man, because like I said, I have a college degree. I could have went and gone and got a job and solved my pain. But it would have taken away from the opportunity of building my businesses because of the time allocation. So different. I was able to park cars that night and work on my business during the day. You can't really do that with like a full-time real job. Right. So it may not, like you said, like, you know, it a failure, isn't a failure if you, if you learn from it. But let me tell you, man, that those failures changed who I am today and I would not change it for the world, you know?

Average Joe Finances:

I think it also empowered. You're th the hustle and the drive that you've already had, right? It only made it stronger. You got backed into a corner and your claws came out and you were ready to fight. That's the most important thing, man. Some people will get backed into a corner and then they'll cower and it's all over for them. You know what I'm saying? You got back to the corner and you got into a fighting stance and you said, all right, I'm doing this. I'm going to get, I'm going to freaking push my way through, you know, and you did to where you are today. You said that when you had this conversation with this guy that, you had always wanted to get into real estate. So what was that catalyst that drove you into wanting to invest in real estate?

Chad Wittfeldt:

Yeah. Going back to that country club, where I, where I kind of started building a foundation of just high net worth energy. And thought patterns, successful people think and talk and feel, and they're very different individuals. Right. And so that's really like, my mind was a massive sponge and I just wanted to meet people and I would build relationships and ask people what they were, what they did for a living and just come from a place of like, I really respect your level of success. Tell me about it. And every one of them, either CEOs, business owners wealth managers, real estate investors, you name it. That's. That's where they were all at. And so I always knew real estate was a really powerful asset class that can provide cashflow. But at the time, like, I didn't really know how to get started, you know, didn't have good credit and all those things that you need to get started and, you know, on your own right. Trying to catch single family rentals or whatever else. Right. You need something to get started. And those typical models. And so I got into the syndication space with multi-family commercial.

Average Joe Finances:

That, that was your first real estate investment was getting into a syndication?

Chad Wittfeldt:

As an active GP. Putting the deal together, all that good stuff.

Average Joe Finances:

Yeah. Is this what the guy that you met at the park?

Chad Wittfeldt:

Yeah.

Average Joe Finances:

Awesome.

Chad Wittfeldt:

I done and I've moved on and done deal done on other deals with other folks and passively invested in deals, active, you know, you name it. And so, yeah, man, now, now what's cool is like just having that first deal eight months goes by 12 months, goes by 24 months, goes by. And you get those checks, those cashflow money checks, every quarter mailbox, mailbox, money. It teaches you cashflow, man. Once you get to touch it, feel it you're like, dude, I did that deal one time and I'm still getting paid, man. That's awesome. And so now I've been really focused on, on a cashflow, not necessarily always passive cashflow that is certainly, you know, multiple of my income streams, but yeah.

Average Joe Finances:

So you mean. That's something that's so, so super important about this entire thing is that you, you built relationships, right? So, you know, meeting the individuals that you met at the club at the country club, right? You, you realize that that, that type of surrounding is what you want it to be in yourself. You want to surround yourself with people that are doing better. And that's one of the things I like to do too, is I go to different meetups and with, with other real estate investors and, other like high net worth individuals, people that are doing way more than what I'm doing. And I like to surround myself with people like that, because one, it's a humbling thing because it shows you that there's always going to be somebody out there that's better than you. That's doing more than you, and that can hustle better than you. But, when you surround yourself with people like that, it pushes you. It motivates you to just give a little bit more every day. If you just give 1% more every day, it'll change your life. . And then the other part of it, like I said, is building relationships, right? So, you know, you met this guy, you built a relationship with them. You went on a, as an active GP on a, on a deal with them on a syndication. And that changed your life, man, you know, and here you are now investing in more real estate and then you also, you do other things, right. You're more active, like in, with cryptocurrencies and things like that. You had I know your background when I was talking about earlier, like you do mining and staking and trading cryptocurrencies. So. You got it. You gotta educate me here real quick. So I know what crypto mining is. I know what crypto trading is. What the hell is crypto staking? Let's take a brief moment to hear from our show sponsors. What's going on everybody. So today I want to talk to you about the podcast editing service that we use for the Average Joe Finances Podcast that is editpods.com. And what I really like about them is it's a subscription-based service. So the prices are fantastic. And not only do they do the podcast episodes for us, but they also make us videos, audiograms, social media caption videos. They do our show notes, thumbnails. It's just fantastic products. Go check them out at editpods.com. What's going on everybody. So today I want to talk to you about Buzzsprout the Average Joe Finances Podcast recently switched over to Buzzsprout and I got to say, I am super happy with the progress. Our podcast is now on every single major platform and reaching audiences that we couldn't reach before, which is just super awesome. Thank you to Buzzsprout for being such a great platform. But also I want to say, Hey guys, if you sign up for Buzzsprout and you sign up for one of their paid plans using our link, you'll get a $20 Amazon gift card. So go check them out. It's averagejoefinances.com/buzzsprout and we'll make sure the link is in the show notes below. Let's get back to today's episode. You're listening to the Average Joe Finances Podcast, whether it's single or multi-family real estate, the stock market, or side hustles, we discuss it all strap in and enjoy the ride.

Chad Wittfeldt:

Yeah, for sure. So basically. Um, Ethereum is, is looking to go to this model here soon. Right now I'm actually up in my, I have a mining operation up in my house and I might need to hear you. And it just, I call him my little money, my little money printers. And so anyways right now with the Ethereum and being what we call proof of basically my super computers up there are verifying transactions across the blockchain across, across the Ethereum blockchain. So let's say I wanted to charge you a hundred dollars in Ethereum for dinner, right. Whatever. And you send me that Ethereum, it has to get verified. That transaction has to get verified. Right. And so are my computers do that right now when it goes to proof of stake they do it a little bit differently. And so basically I'm putting up staking, my cryptocurrency of a specific coin, you know, and it works kind of similar, not, not as much. But there's, there's a couple of different ways to stake, whether it be transaction-based or liquidity based. But basically I'm putting my cryptocurrency on a platform to be provided AP you know, a specific set APY on said asset. So it's taken a little bit harder to explain than a GPU mining, but you know, it provides verification across the blockchain transactions. Both of them do.

Average Joe Finances:

So, you're basically getting paid when there's a transaction that comes through your particular computer, right?

Chad Wittfeldt:

Yeah. And since there's so many, and we, we have what are called mining pools where you pool your hashing power together with other minors. So it's it's, it's pretty fun, man. I I've really enjoyed it quite a lot. You know, it's, it's funny, like kinda of growing up like a lot of my family and everything, All that we knew really was like, you go to college for four years and you start working for Ford, Chrysler, you know, being in Detroit. Right. And so you come out of college, probably making 40 to 50 grand a year. Maybe, and now I have a fricking computer that runs 24 7, and it makes me that kind of money in a year. And I don't do, I don't do anything. Right. It's crazy.

Average Joe Finances:

What's the con like what kind of, are you talking about that's how much you net, like after your expenses? Right? Cause I know it's eaten a lot of electricity, right? So like, how are you paying for that? Or is it, is it making like 40 to 50 K a year, but you're paying like 20 K a year in and electricity.

Chad Wittfeldt:

Yeah, that's a, that that's after expenses, man. Yeah, I got to set a pretty good where it, like my mining profits automatically get staked on some high APY currencies and I've got it all set up with different LLCs and all that good stuff. So,

Average Joe Finances:

Yeah, so I was just curious, cause I, I didn't know what, what staking was. I've heard of mining, cryptocurrency trading, obviously, but never heard of staking. That's why I wanted to ask about that specifically. Cause that's pretty interesting and it kind of reminds me of like, credit cards, the transaction fees and things like that. It kind of seems similar to that. Is that like a, a better way to, to think about it from a, I guess a crypto noob or a guy that doesn't know too much about it experience.

Chad Wittfeldt:

Yeah. Yeah. So yeah. I mean th when you're staking your basically valid node over a network, right? With your, with your liquidity. Whereas the GPU, the mining operation does it with pure computing power. So it's, it's, it's pretty different between the two. Staking's a little in my opinions still to this day is a little bit more complex to explain to, you know, but yeah, yeah.

Average Joe Finances:

To me, that's I don't know, I guess it's the best way for me to, to make it work in my head that it's, it's basically like a transaction fee, right? You're verifying the transaction that goes through your computers, verifying it is that I'm a little, familiar with blockchain and how it works and how it's multiple computers, all verifying the same thing to make sure that, the actual event happened. Right. Versus, one, I guess, one transaction going from you to another person like it has to go through. The entire blockchain. Right. So for it to be verified, that's about the gist of it, man. That's that's it for me right there.

Chad Wittfeldt:

You know, sometimes you don't need to overcomplicate it either. Right. You know.

Average Joe Finances:

All right, man. So, you know, there was some topics that I wanted to talk to you about. And one of them is something that you call the attraction based marketing and automation. I like automation. Automation is great. I, I automate a, quite a few different things in my life and in my businesses as well. So I'd like to know what are you talking about when you're talking about attraction based marketing and automation?

Chad Wittfeldt:

Yeah, for sure. When I was doing my first department deal, I met the, met these guys. There's only two or three of them on this team. I was really quick and early into the group. And basically there's, there's two main key components to doing a syndication of an apartment, even self storage, any, any asset, really. You need a good deal and you need the money. That's it. Those are the only two things you need and to find a good deal, what most people will teach you to go do. It started cold calling brokers. Hey, how's it going, John? This is Chad is now a good time. You got any deals in Oklahoma looking for anything, you know, 80, 80 units above blah, blah, blah. Well, the trouble with that is John gets called 10 times a day with that same pitch. Everybody. I actually want to, when I first started, man, I had a broker. Tell me, Chad, I really appreciate you calling, but I just want you to know you're the 15th person I've talked to today looking for that same deal. Right? So he doesn't know me from Adam, Adam for me. Right. He doesn't know who I am. He doesn't know I can close it. There's no reason for me to be on top of his list to give me a smoke and off market deal. Right. And it's the same with money in a syndication. A lot of people are taught. Call your aunt, call your uncle, ask who their friends are. Go hang, go hang around the country club, do this, do that. Well, there's a couple problems with that too. Now you're chasing around money. And two, you can only be at so many events. There's only you, you can't, you can't multiply yourself and be, and be at 30 different events and be on the stage and be the, be the guy that everyone wants to talk to. You just can't. Really the premise of attraction based marketing is building a thought leadership platform, like your podcasts, like, you know, Facebook group, YouTube channel, where you can reach a significant amount of people. You know, you need volume and specifically the exact people who you want to serve. Right. And so in our business, we did a couple different things. Number one we launched and grew a successful podcast, all about real estate investing and just targeted high net worth individuals and, you know, build it, build that platform around it. The other thing that we did is we started hosting events. And that, you know, being the person on the stage, being the person on the microphone, being the host, introducing so-and-so has a lot of power. It really, really does. And so, yeah. Now we'll we were doing, as we're building this out in a way. Where we're putting good value, putting education, putting out all these things to give our ideal investor, avatar, the knowledge, the education, the things that they need to make a proper decision, whether they should invest into an apartment or not. Yeah. So now, instead of going out and calling Sally, and Sue and Joe, right now, they start calling you. And so building the credibility, the authority and the platform that you can stand on. To reach your audience. That's the attraction marketing model

Average Joe Finances:

You have yourself out there more, right? So it's like, you're, you're popping up into their head and more than, the other 14 phone calls that they got earlier that day right? I like what you're talking about, because like. So I'm also a real estate agent, you know, on the side besides being in the Navy. Right. And I actually had somebody reach out to me recently strictly because they listened to my podcast and they said, Hey, I'm moving out to Hawaii. And I'm looking to get a place out here and can you help me out? Things like that and that wasn't even me trying to go out and, and find this person. He just, he likes what I'm talking about on the show. And he's like, Hey man, I, you know, I'd like to talk to you more about this and can you help me out? Well, sure, sure. I can, you know, I wouldn't say that I have like a great reputation or anything. It's just, but I'm putting myself out there and I'm showing people what I'm doing. I'm trying to be transparent about everything. You know, I'm here to help, and that's the whole point of this podcast too, is I want to help other people, you know, by sharing a story like yours, with all the crap that you've been through to get to where you are now, like this, this could be the show, that's the catalyst for somebody getting that motivation, getting that spark and going out and doing something about it right? Because we all find ourselves on, on, on certain days or whatever you can. You're just like, man, I just, I don't know if I want to do it today and then you listened to something like this and you listen to somebody tell you about, Hey, this is, this is when I was backed into the corner. This is when I hit rock bottom. And this is what I did, you know? And you're like, am I this thing that bad, I can make this happen. I can make this deal close. So it's, you know, it's, it's things like that, man. And this is one of the reasons why I love doing what I'm doing here with the podcast. And speaking of podcasts, because you had mentioned that you have a podcast as well. Can you, what, what's the name of your podcast?

Chad Wittfeldt:

Yeah, so we actually sold it. But it, it was called the creative real estate podcast. And it's should be still alive right now.

Average Joe Finances:

Yeah. Good deal. I know I've known of other people doing that too, you know, like they, they build this podcast up and then they turn around and sell it. And who knows? Maybe one day you could buy average Joe finances, people just, you know, if, if you're thinking about it, I'll sell it for like $10 million. You just let me. Let you know, write me a check. We'll talk about it now, but anyway, I love what I do. And you know, it's, it's awesome though. And, you know, you had, you had built something else though. You, like you said, it's this attraction based marketing. Right. And it got to the point, like the other part of it that we're talking about with the automation. So I've, I've actually I get deal flow in my inbox, like something serious, man, because of the guests that I've had on my show and just the network that I've built with this podcast, which has just been super cool. That is a hundred percent factual with what you're saying there, because it works, it really does work. The other thing that I wanted to talk to you about, and this kind of ties into it, right. Because I'm talking about like people getting that motivation level back up, but another topic I wanted to just talk briefly with you on is, is self-development and motivation.

Chad Wittfeldt:

Yeah.

Average Joe Finances:

What is it that you do that, that makes you get up in the morning and say, I'm going to go out there and freaking crush it today and go pick up some deals.

Chad Wittfeldt:

I have the obligation to myself thinking back to that, like I said, man, when I was sitting in a parking lot in 20 degrees, sleet and snow. Some lady isgiving me a terrible attitude because she's having a bad day and I have to sit there and take it. I promised I would never be there again. And I hold myself to that every single day. The biggest thing for me. Like I said, man, I'm a pretty small town boy, I don't really care too much about the a hundred thousand dollars Lamborghinis and Ferraris. Really.

Average Joe Finances:

I thought you were a car guy, man, that's, that's the way we started this whole episode. What's going on?

Chad Wittfeldt:

I am, but I'll tell you what man cars that you can beat the heck out of and not feel bad about it are always, always more fun to drive promise you that. I like the freedom man. You know, I really, I like the freedom. I probably work about 25 hours a week. So what today's today's Saturday? Right? So Tuesday I was up in the mountains, riding my mountain bike all day. I worked Monday, Wednesday, Thursday. I was out riding my dirt bike all day and Friday. I worked for a couple hours in the morning. I w I won't give that up for the world. I love that. I love having the freedom to do what I want. Spend time on my hobbies and my passions and not, and not be sacrificing my. My wellness, my wellbeing, because that's the stuff that I love so much in life. And so that's what gets me going, man. Like, cause if I stop money only lasts you so long when you have expensive hobbies and lifestyle, you know what I mean? So you got to keep making it right.

Average Joe Finances:

You got, you got to keep getting the assets that will pay for that lifestyle.

Chad Wittfeldt:

Exactly. Yeah. A hundred percent

Average Joe Finances:

Nice, man. That's good stuff. All right so we, we covered a lot of stuff today, like, especially when it comes to having that entrepreneurial mindset, but also that, that, that motivation that just doesn't go away, which is something that you definitely have. But I got to ask you if there's any like tips or tricks that you would recommend for somebody. Who might be valeting cars and getting frostbite on their toes right now, just trying to make ends meet and, and get out of this nine to five lifestyle. What would you recommend to somebody in that situation?

Chad Wittfeldt:

For sure. I love that question, man. I have to take a deep breath because it, it just, it brings me back to being there. So you have to have a vision when you're in a terrible, terrible place in your life and things around you are. And you have no money. You don't have good relationships. You don't know how you're going to pay your rent. You hate your job. You have to know what it is going to look like. What success for you looks like you have to have that vision. Once you have that vision. Now you can create your map on how you're going to get there without a map. Try, try driving around Denver without a map. You're not going to make it very far. The roads are complicated. You're going to make wrong turns. You might go down a one-way street, the wrong way. All right. So now that you only have your vision and you know where you want to go, now you have to build the map where you need to take your left, where you needed to take a right where to get on the highway and hit the gas, right. Map that out. And what what's that going to look like to get to that goal, to get to that vision and just know today does not, is not tomorrow, just because you're in a terrible place. You might be in a bad place right now today. Doesn't mean, you have to be there a month from now, six months from now a year from now. So build that out and take action. And also, man, also the biggest thing that I contribute to my success and not saying I'm like this massively successful guy, but like you got to hang out with people who are winning and people who want to see you. It was really, really hard for me. Once I started closing deals to understand that not everybody I had around me genuinely wanted to see me win that, you know, that's just the simple fact of life. Like not everybody you think around, you wants to see you win. You need to have people who genuinely want to see you win and celebrate those wins with you. Get around successful people. They're going to teach you things they're going to, they're going to change the way you think. They're going to open doors for you that you never thought were even there. And I dunno, I, you might have to bleep this out, honestly, but you have to be successful. You have to have some balls seriously. Like one of the things that I did that taught me a lot. I love, like I said, I liked cars and I was on Craigslist. I saw this guy selling them a McLaren P1 is, I think it's like $120,000 car. I call him. Say, Hey man, I saw your McLaren for sale. I was asking him a couple of questions. I said, look, man, you know, I can't buy this car. I'm not in that place right now in my life. But I, but I just wanted to call you and you know, I really respect that level of success. You have to be selling a car like this, you know, no lien on the title, blah, blah, blah. And I was telling my buddy this story, he says, man, weren't you scared? He would have told you to F off or get lost. And I said, no man, I, if I never called him, I would have been in the same place I was before that guy ended up investing over $500,000 into real estate deals with me. I just, because I called him about his McLaren. Like, so be bold. Both success loves boldness. And so I know that's a ramble. I know that's a massive ramble.

Average Joe Finances:

It's not. You know how many things you said just now that I wrote down.

Chad Wittfeldt:

Yeah. Like be bold, man. Like take risks. And I mean, now that doesn't mean like take a HELOC out on your house and put it on Bitcoin, but take risks on yourself. And the more you have those wins, don't ever forget to celebrate them because those wins are what build confidence for your next.

Average Joe Finances:

Hell yeah. No that's good stuff, man. That, that entire thing that's ,have a vision. Figure out what success is to you. Create a map to get there today is not your tomorrow. So just because you're suffering today, doesn't mean that needs to be your life tomorrow. And success requires boldness, right? I mean, like I said, man, it was a lot of good stuff to write down with that. What you call a rant. I wouldn't call that a rant. I would call that dropping some knowledge, bro.

Chad Wittfeldt:

I get really fired up about it, man. I get so fired up on it because it's like, I don't know, man. I just like, it's tough because like people ask me like, how do you get motivated? I woke up to. I'm alive, dude, I'm breathing. I live in America. I'm alive, bro. Like w how could you not be motivated to make something happen for you today for your future self and your legacy? Like, there's just not an excuse not to.

Average Joe Finances:

I'll tell you one of the things that motivates me is I, I wake up and I listened to the Average Joe Finances Podcast now, and this, this is awesome, dude. Like, you know, you have to have a goal, you have to have a vision. And like you said, you have to have a map to get there. These are all key takeaways that for, for those of you that are listening, you've probably heard me say this a million times on this show. It's all about your mindset. You have to change your mindset before you can start changing anything else. Once you change your mindset, the cashflow will come. You just got to put the effort in. So, Chad man, it's been an absolute pleasure. I've got one more thing I have to ask you because, there's people listening right now that are going to want to know more about you besides what we talked about today. So where can people find out more information about you? Do you have a website you can share with us and social media, anything like that?

Chad Wittfeldt:

I do. I, I tell you what I, man, I add, I like when people add me on my personal Facebook, before anything, that's a, that's a great place to get to know me more on a personal level. And I talk a lot about what I do in my businesses on my Facebook. And I like doing business with people who I'm friends with. I like having good relationships first, so I don't have any offers to give or nothing to plug. Just add me on Facebook and let's, let's build a relationship and see and see where it takes us.

Average Joe Finances:

Awesome man, Hey, I'll make sure I have a link to your, to your Facebook in the show notes so, make it easy for people to find you. But if you're just listening and you don't have the chance to go on Facebook, his name is Chad Wittfeldtand spelled W I T T F E L D T. I'm pretty sure if you go to search for him, he'll pop up. He's he's in front of a really wicked car. With with a nice paint job on it. So you you'll be able to find them pretty good. So by the way, I said this before we started recording, for those of you that aren't watching the video and you're just listening is wearing a hat that says rents do love it. Awesome. Definitely it's a Testament to show, you know, where his mindset is at all times. So.

Chad Wittfeldt:

Hey rent's do not on the first of the month. It's due every single day.

Average Joe Finances:

And we're not just talking about paying your rent to live in an apartment. We're talking about, you know, rent on life, the space you rent while you're living every day. It's good stuff, man. Chad, it's been a absolute pleasure, man. Thank you so much for taking the time on a Saturday to talk with me today. When you could be out dirt biking.

Chad Wittfeldt:

My pleasure, man. I'm super stoked to have been on. Really appreciate it,

Average Joe Finances:

right, man. Aloha from Hawaii. Thanks for listening to the Average Joe Finances Podcast, your source for beating debt, saving money and investing. Learn more at averagejoefinances.com. The average Joe finances podcast is for informational and entertainment purposes only do not use this for any real estate or investment making decisions.