Finding Experience And Success In Wholesale Real Estate With Gonzalo Corzo
Experience is the best education you’ll ever have. Gonzalo Corzo is well familiar with this. Instead of taking the college route, he started his real estate career by working for a wholesale realtor brokerage for free for a year and a half. Soon after, Gonzalo equipped himself with the knowledge that came from that experience to grow and become a successful real estate investor. He is now the President of Cash Geeks and Host of The Cash Geeks Network Podcast, where he is not only investing but also helping others find success in the industry. Gonzalo joins Tim Herriage in this episode to take us deep into his journey, his thoughts on the ESBI Quadrant, and his advice to investors out there looking to succeed. He then discusses more wholesaling, selling to hedge funds, and transitioning to flips. — Watch the episode here Listen to the podcast here Finding Experience And Success In Wholesale Real Estate With Gonzalo Corzo In this episode, I’m with an all-time rockstar, Gonzalo Corzo. Gonzalo, thanks for being here. Thanks for having me. I’m super excited. I’m glad you’re here. I’d like to start with tell everybody a little bit about yourself. I’m based out of Jacksonville, Florida. I own a wholesaling company called Cash Geeks. We do about 300 to 350 wholesale deals a year and our goal is to keep going nationwide. There are a lot of young people out there reading and thinking, “These old real estate guys.” You are still young and one of the most successful. You’re in the top 5% of investors in the nation. We’re going to get to that. I’ll start every segment with the Bottom Line Up Front. Think of it like the CliffsNotes version of the show. We want to give people in two minutes the top things that you’re looking at, thinking about, pursuing and maybe avoiding. Mainly, I want to focus on thinking big and treating your side hustle like a business. That’s the biggest thing that’s impacted me. One of the biggest things that make my business different from every wholesaler out there is we’ve taken the professionalism and the Corporate America approach to wholesaling and it’s blown us up. That’s the mindset that has made us who we are. It’s the main thing I want to focus on. I’ll have to dive right into this. You want to treat the business as a more corporate professional business. You’re not necessarily an old person. Where did you learn this? Honestly, it’s my business partner who is older than I am. When we connected, he had already a successful business that had a bunch of employees and systems processes. When I got into wholesaling, I got into it through FortuneBuilders. As they were teaching me wholesaling, I learned about the E Myth. I learned both at the same time. I’m a big fan of Robert Kiyosaki’s CASHFLOW Quadrant, where he exposes the difference between being self-employed and owning a true business. I knew because of my age, I had the time to build a true business and not just focus on something that’s self-employed, making a lot of active income. When I connected with my business partner, it meshed perfectly. That’s why we also work super well together because we have that clear vision of how we wanted to treat our business from the very beginning. In three minutes, you’ve mentioned two of my favorite books of all time. You’ve also mentioned FortuneBuilders, who’s one of the largest and probably most successful independent education companies for real estate investors. With the exposure to FortuneBuilders in a TV commercial or a radio commercial, is that how you learned about real estate or learn more? No, that’s how I learn more. Shout-out to my older brother. He’s a realtor and real estate investor. When I was eighteen, my older brother got into real estate. He had been trying to get me into real estate and shove Rich Dad Poor Dad down my throat. I was like, “No, I’m going to be a cop.” I was going to community college for my degree in Criminology. He took me to a personal development event where it was put on by a bunch of successful real estate investors. I got to hear David Green talk from BiggerPockets several years ago before he was anything big. He was a cop that was in real estate. I was like, “I’m going to be a cop and my older brother’s going to tell me about real estate.” We were talking about having a different voice in the locker room and a different show that you had. I was like, “My brother’s right. I need to get into real estate.” From that personal development event, driving home from the airport, I was listening to the radio and I heard a Than Merrill’s FortuneBuilders ad. It was like, “We’re coming into your town. We’re looking for some people that can help us buy houses with no money.” I was like, “This is what that event was telling me about. I need to be there. Say yes and figured it out later.” Two weeks later, I dropped out and started my real estate career. “We’re going to be in Dallas on,” it’s the old recorded same commercial insert city name but it’s led to a lot of success and successful people. I don’t knock any education, honestly, unless it teaches people to do things that are unethical or illegal. Let’s go back to the ESBI quadrant. A lot of people misunderstand that quadrant. In my opinion, they think they have to move from the E to the B to the I. I’m not sure a lot of people understand that you can occupy all four quadrants at the same time. I would like to know your thoughts and view on that. The biggest thing is understanding active and passive income. For me, when you break that down, you’re always going to have active and passive income.
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