150 Deals at Age 22 by Putting Relationships Over Profit with Cole Ruud-Johnson
Goal. Welcome to the bigger pockets. Podcast man good to have you in the shed. Thanks for having me on. Manus good to be in person how to marry. Yeah so tell us a little bit about how you got into the wide world of investing. Actually before you do that. how old are you. i'm two and three quarters coming. Twenty-three in okay. So that's that's a very young age and and give us a quick before you got how how you got into real estate. Give us a quick look under standing. What do you do. what's your thing. I like sesame. I want to set the table comparable to know like like what you have right now. Can what your business looks like. And then we'll go into how you got into that. So how in depth. You'll get your just give us a broad overview of your current business so broad overview right now we have an off market direct sell the company and renton washington's way of an office two thousand square feet tales managers guys a whole team and right. Now we're doing ninety percent wholesale so to sell on those deals other investors in ten percent flips. We have three flipped going on right now bound so transitioning into that slowly but still primarily also okay and then tell approximately like much volume in a year. Do you do like the last year. Like what have you. What have you done like what kind of like red zone in the past year We do about six to eight transactions a month in the seattle area so before that we were in four different states that number was higher but right now back down six to eight and just comfy and of the three main counties around seattle so whatever that comes out to seventy eighty deals year. Wow okay. that's crazy. I did like i think three wholesales once in a in a five year period and that was i was impressed with myself. I'm still. let's go into how you got started. How'd you get in your young guy with that. Most people be jealous. Jealous of unwind. Yes oh growing up Grew up in real estate family. So my my great grandma started a brokerage called rude realty which one of the first broken all the seattle are. You d you d okay. Sounds yeah okay. are you d. that was abroad. No i've been practicing your name wrong. The rude we've hung out a number of times we've poker together. Yeah exactly and i called you root rud time just let it slide. Tell people the next time it's back to rhodes. He pronounces a lot of words wrong. But don't feel bad rough instead a roof magazine and stop produce anything on accident so she was kind of the she much my whole family in real estate so then my grandparents they did a lot of commercial stuff in seattle. They own a bunch of buildings. She was an agent and then my mom got in the business. She became an agent In my brother followed her growing up Anytime i wanted to make money or be involved at all. I was you know going with her to open houses but he signs out for the open houses and i was a staging she got a staging company on the side. So i was moving furniture around so it's always around the business in some way so transitioning to when i actually wanted to make make money nationally going real estate license at eighteen nineteen left school after semester and i absolutely hated hated hated or being a residential real estate and switch brokerages three times. Of course it was the brokers those a problem of course. I showed up to every sales meeting that with everyone else. That was not my fault shift. Have you still. I sat on facebook a couple of hours a day. Scrolled through few post. How they cold called my sphere which eighteen or nineteen. Yeah they tell you to cocoa your spirits. You're graduating high school soon. How's that how's that looking. You wanna buy a house yeah so it was brutal It was a was making like a couple hundred bucks a month. Just doing like showings rather agents. And then the third brokerage. I moved to was an off market company where they were doing every tuesday night. They'd bring a bunch of investors and and they they would show them what was going to be coming to auction that week and they'd pretty much done go to auction That's what they're running their company so i learned stats out of the business and how they are creating their own inventory at unlike. That seems like something. I can get behind because people don't care what my ages then eighteen nineteen twenty rather than seattle. Sono miller house. Yeah someone's going on here. Sorry and then couple nights later. Like i've learned about wholesaling. Buddy ra- applebee's semi origin story appetizers. We shared how good there's wings it was until i survived college. Right there and We're on instagram. And this desire to young guys in the area had posted this forty thousand dollar check on her instagram. And so i was like. What are these guys doing of they can do. We can do it kind of thing to the next day. He came to my My parents house is living our parents at the time and Up and they're pretty much. Attic started cold calling end for the next three months before we got a deal. We're just sitting up in that room cocoa every single day.