ITF 90 Jordy | Financial Independence

 

Who says nineteen is too young to think about financial independence? Not our guest today who, at nineteen years old, found his Eureka moment to live a financially independent life. Craig Curelop and Zeona McIntyre sit down with Jordy Clark, the co-founder and Managing Member of Silicon Slopes Capital Partners, LLC. In this episode, Jordy talks about his journey from taking the traditional path to discovering real estate as a path toward achieving freedom. He also dives deep into the pressures of trying to keep up with top-producing agents and shares the mindset that took him to find success. Going further into wealth-building, Jordy touches on the magic formula, cash for keys, marketing, and wholesaling. He then breaks down the pros and cons of buying at auction or foreclosures and gives advice on truly living financially free. Don’t miss out on Jordy’s wisdom by tuning into this conversation.

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Wealth-Building Towards Financial Independence With Jordy Clark

Z, how are you doing?

I’m good. I drove out to Denver to go look at a bunch of properties because I am under the gun on a 1031 exchange. I have to find something by June 15th, so I’m running all over the world. The funniest thing is I came home and the property I wanted to make an offer on was under contract. My backup, I did all the math and realized that property would make 4%, so why did I even go see it? A little lesson for you is to do the math before you leave the house. It will save you a couple of hours of driving, but we’ll see. I got some ideas up.

What are you mostly looking for?

I’m looking for a month-to-month rental. I’ve been looking all over the world. I was first looking at vacation rentals, but vacation rentals have not been doing as well as urban markets. Traditional vacation rental markets were killing it all through post COVID excitement, but that’s shifted now as we’re potentially on the verge of a recession or some kind of correction.

It seems like people are staying close to the cities. I’ve been looking at month-to-month MTRs and I was looking in Denver, but , I showed a property to a client in Boulder. That one might make a good little option. We’ll see what happens. She didn’t seem to like it. I never compete with clients. They get first dibs.

It’s funny. Now that we’ve got a team of agents, it’s like, “Clients get first dibs, agents get second dibs, and then I get all the scraps.” You can still make things work.

It all just depends on the lens that you have. I have a question for you and this might be valuable for all the readers. Usually, I won’t buy anything that I feel like has an obvious objection. Anything that’s dark or a basement level or loud, this particular unit isn’t a nice complex, but it faces a mobile home park that’s right next to it. What you’re looking at is the park, and it’s not that nice, but the rest of the property is nice. I’m basically going against my rule. If I buy this place, even though I think it’ll make good money, what would you do, Craig? All the readers want to know.

It’s hard to move a mobile home park. Sometimes they can be okay, like they’re just modular homes, but if there’s tires and broken bicycles and crap in the front yards and it looks like dingy, you’re going to get bad reviews or people aren’t going to like it, or they’re may not feel safe for all those things. I would probably steer against it.

In my past, I tried to figure any way I can make a deal work. I would just try to make it work. These days, I’m a little bit more like, “How can I make this deal not work and is that okay for me still?” Try not to rush into it too much. I know you’re running into a little bit of a time limit here, but I would say don’t make any hasty decisions until that time is up.

Craigie wisdom of the day, I appreciate it

Speaking of every day and wisdom, we’re going to bring on Jordy Clark, who is a friend of mine from Mintz Real Estate Investment. He’s got a cool little story that we are super excited to share with you. Before we reveal it all in the intro, let’s just bring them on the show.

Jordy, welcome to the show, my friend. How are you doing?

Thank you. I am unbelievable. How are you guys?

We are doing great. We are so excited to have you on. Funny enough, I am basically in your city right now. I flew to Denver for the day and coming back to Salt Lake, but I’m looking forward to grabbing dinner with you. I know your story fairly well, probably not that well, though. I’m excited to dig in a little and learn a little bit more. Why don’t you tell us straight from the beginning? Where did you first hear about financial independence?

I heard about it when I was nineteen. At the time, I grew up a contractor son. I learned how to do a lot of construction stuff. There was a guy in my neighborhood who’s about my parents’ age and he invited me to come flip a house in San Diego. This was in 2009. We’re flipping this house in San Diego. We’re living in it. I went because he promised me surfing lessons. I was like, “I’m going to go learn how to surf.” I’m a big snow snowboarder. He’s going to teach me how to surf, where I’ll make some money flipping this house and fixing it up.

At the end of the two months or whatever it took us to flip the house I had made $2,000. He showed me the settlement statement where he had made like $60,000. I was like, “We’re doing the same amount of work. How come he’s making so much more than me?” That’s where I first heard of financial freedom because he had earned his financial freedom and was able to go and flip houses in San Diego. He lived in Salt Lake and he taught me a little bit and he was my first mentor.

At the time you’re living in Salt Lake City, your mentor sees an opportunity to help you go for the housing. That was where the transformation happened. You weren’t living in San Diego.

I was in Salt Lake and frankly, I didn’t even see the opportunity. I didn’t know anything about it. He saw me as cheap labor, which I was.

How long were you in that rehab for?

Two months.

Do you want to work for me at all?

My hourly rate has gone up significantly.

 

Rich Dad Poor Dad seems to be the gateway drug to all financial independence. Click To Tweet

 

We’re going to unpack why here. You’re nineteen years old at the time. You see this dude making tons of money, $60,000 through this flip. That was like your eureka moment. What happens next?

I didn’t grasp it at the time. I’m a young college kid out of high school where $1,000 a month was a lot of money to me. I was going down the traditional path of getting a Bachelor’s degree. I was Pre-Med at the time. I took a break from school and I went on a religious mission and lived down in Chile for two years. I came back and got married. I remembered that time in San Diego with Doug Larson. I contacted him and I was like, “I’d like to learn more about what we did there. I know that you got paid a ton and I got paid none. Tell me about it.” He’s like, “Read this book.” It was Rich Dad Poor Dad and that opened everything up.

Rich Dad Poor Dad seems to be the gateway drug to all financial independence. How old were you then?

I was 22, working at a bank. After that two years of sabbatical, I had gone, “I’m not going to go Pre-Med. I don’t want to be a doctor. We’ll go business,” and things transpired and we can dive in there.

You were going to go Pre-Med going to be a doctor, that’s obviously a noble field that your parents were probably very happy to brag to their friends about that you were going to become a doctor. Was there any backlash or did you have to like get their approval at all for that? How did that go?

I’ve never been one to seek people’s approval. I’ve always bucked the system and done things differently. I was like, “This is what I’m doing.”

Were there any questions asked though or people were like, “You’re going to go from a doctor to a real estate investor?”

At the time, I didn’t go straight to a real estate investor. I was like, “I’ll get my Business degree.” I got my real estate license shortly thereafter. The transition took a lot longer than, “I’m going to go straight into real estate.” It was probably another few years before we got into full-time investing.

What did you do with your mentor? Were you guys flipping? There’s so many different slices of real estate, so was he getting you into finding deals for him? What did he start you with?

Fast forward to when I was 24, I was a real estate agent. He would say, “Write this offer on this bank-owned property for me.” This was back in 2014 when those existed. I got my real estate license because I was like, “I have to have a real estate license because I can save a commission on my rental properties.” He would have me help him list and buy his flips, his rentals, and I could learn that way. It wasn’t until later on that we ended up partnering on a few deals.

Were you still charging only $1,000 a month?

 

ITF 90 Jordy | Financial Independence
Financial Independence: Most real estate agents feel like they have to have a nice car and house and spend all their money on marketing. It just can be very expensive trying to keep up with other top-producing agents.

 

No, I moved up to 3%.

Can you explain to some people how having a real estate license could benefit you as a real estate investor? You said you were using your commissions. How does that work?

I don’t know that it benefits me a whole ton right now. At the time, I thought I have to have a real estate license to buy rental properties. I didn’t know any better.

It’s funny how such a simple thing that pretty much anyone knows because of all the content and stuff that’s produced on real estate investing that you don’t need a real estate license to buy real estate, but here we are. You could use that to your advantage at least a little bit. You were able to take some of your commissions that you would typically make and save that rather than paying a buyer’s agent. You were able to take 3% use that maybe towards the rehab or towards some of your down payment or whatever it is. What did you do to leverage that? Did you find yourself using your commissions more towards rehabs? Is that what you’re doing with your rentals that you were picking up?

When I first got my real estate license in 2014, I joined a team at Keller Williams that was focused on helping investors. It was a year before I bought my first rental and I did apply my commission towards the down payment. That was a seller-finance deal. I lowered my down payment on that deal. We can go into that deal in a minute, but it was another four years before I bought another rental because I got stuck on spending more than I made and not saving, not investing. I was totally the typical real estate agent that was selling stuff. I was on a very expensive treadmill.

Why would you say that’s an expensive treadmill?

It’s because most real estate agents feel like they have to have a nice car. They’re spending all this money for marketing. They have to live in a nice house and it can be very expensive if you’re trying to keep up with other top producing agents.

Unless you’re like Mr. Mustache Craigie over here or I, when you don’t care what people think. Yes, I definitely have felt the pressure of keeping up with the cool agents with their fancy stuff. Personally, I’ve found that if you can take your active income into something passive where you’re passively earning, that’s a great way to stack it up.

One way I shifted my mindset. I never shifted out of this. Never had the mindset of I guarantee you that I have a copy of every one of our clients craft your cards and every one of our clients. The reason for that is I like to feel more relatable. I don’t want my clients to feel like I’m better than them or like, “Who’s this dude showing up in a Beamer?” That’s not who my clientele is. If your clientele is luxury, then okay, maybe it makes more sense to have a put together car. At least my brand is like, “Financial independence. I got a $2,000 car here.” That’s what we’re doing. Who were you targeting as an agent, Jordy? Who did you have a target as to like who you like to work with?

When I first started, it was totally retail client that we’re looking to invest for about the first year. At that point in time, it wasn’t super important the car I drove, but the team I was on had an unfortunate accident if I run the team. If I’m going to do all the work, I’m going to go start my own team. I started my own sales team, and then we were paying for leads and doing way more first-time home buyers, second-time home buyers, luxury market sales as a real estate agent. That’s when I slipped into the treadmill of not investing and we were spending everything we were making.

How did you get out of that? Anyone in a real job that makes real money, it’s an easy thing to look at your peers and try to beat them or try to keep up with them. When did that mindset shift happen?

 

Make more, spend less, invest the difference. That's how wealth is built. Click To Tweet

 

It happened in 2017. I had to buy out a business partner in the real estate sales team. At the time, we were selling about 100 houses a year and I was making less than $90,000 a year because we were spending so much and our splits with our agents were so high. Our personal budget, we paid off a ton of credit card debt and started living way below our means. At the same time, I increased my income a lot by being an agent. When we sold our primary residence in 2019, we had built up like $150,000 in equity, and we put 10% down on our next house because we moved up. We took the rest of the money and we bought two investment properties.

One thing that is interesting that you broke into is that sometimes people think in the real estate space that having a team like someone like Craig, who’s got a lot of agents and I even started a team when I got started, that that’s a profitable way to do real estate. It can be, but it also can be a big drain.

It’s interesting to hear you say that you were only making $90,000, but you guys were selling like 100 homes a year because that could be incredible amounts of money. It is sometimes easier to be stripped down and be your own agent and choose where the money is being spent or if you’re going to pay for leads at all. That’s like a great distinction. Sometimes being bigger is not better.

One thing I’d add to that is, is when you’re a real estate agent or in any business, it’s easy to like throw money at things that you think are leads. He and I had this conversation before where it’s like, “This is going to pay me $10,000. If I get one deal from this lead source, it’s worth it.” The thing is you may not get a lead from that lead sources, especially if you don’t know how to convert those leads. It’s better to stick to a few different lead generation sources that you know and funnel it up that way. Jordy, it sounds like your story is funny because you’re flip-flopping. You get a taste of real estate with your flipper Doug Larson your mentor, where you only made $2,000. You go away from that.

When you come back, he gives you Rich Dad Poor Dad, then you go to med school and then you come back until like Business degree, then you’ve got a real estate agent. It’s funny how real estate is this thing that keeps coming back to you. Now you figured it out. You figured out that magic formula of like, “Make more, spend less, invest the difference.” That’s how wealth is built. I take it that this is where the game starts to get fun.

This is where it starts to get fun. When I pulled my business back, I took a big step and I looked and I said, “What’s making me the most amount of money with the least amount of effort and/or spending or anything?” We had lucked into a relationship with a builder. I was like, “These builder leads don’t cost me anything. I have to sit on a model home. I can sell new construction and I’m going to start investing on the side.” It was me and I had one other agent who had started as my assistant. He got his license and moved into an ISA role when my team was bigger and then moved into a buyer’s agent. We sold a few communities for this builder.

When I wasn’t at the model home, I was out looking at flips. I was attending all of the REIAs I could. I was networking with other investors and wholesalers. We started flipping houses. Since 2019, I’ve flipped 57 houses. I plowed all of that profit into BRRRRs. I’d buy a rental with hard money, fix it, and refinance it. We’ve traded things around where if I noticed we had a ton of equity in a single-family home, then I’d go and I would sell that. We would exchange it into like a six-plex or small multifamily so that we could free up loans in my name.

This is like 1 to 100. There’s a lot of information for people that are getting started. Maybe we could go deep into one of your first deals where you’re doing it on your own and figuring it out. What would be a good deal to analyze for you?

In 2019, the first two rentals I bought, I call it my 2 for 1. I had all this cash from the sale of my house and we had bought our new primary residence. At the time, I only had one kid. She was three. I had brokered a lot of deals for people who bought rentals or flips from the courthouse steps from foreclosure auctions. My buddy who buys stuff at the courthouse steps called me one day and he’s like, “I got a good deal.” I was like, “I want to buy this. Will you guys lend me the hard money?” He’s like, “Sure.” I bought this deal at the auction, sight unseen, and we had to go through basically a Cash For Keys scenario to get the former occupant who had gotten foreclosed out. We went in and we fixed it up. How deep do you want me to go?

I want to pause at Cash For Keys. Can you explain why you would need to do that and how you guys negotiated that? Sometimes it’s a delicate matter.

Cash For Keys is the equivalent of an eviction. If you buy a property and there’s an occupant in there that isn’t leaving, they have rights. Even though I own the property, they have the right to be there until I either go through the eviction process or we can come to an agreement to get them out. It would have cost me $1,500 and probably two months to be able to go through the legal system and evict this former occupant who got foreclosed on or a faster and cheaper alternative is what I did, which is Cash For Keys.

 

ITF 90 Jordy | Financial Independence
Financial Independence: Having enough passive income to cover your expenses allows you to no longer have to do things you don’t want to do. And so you can always scale back and push the gas.

 

I went and talked to him and said, “I bought this at auction.” He knew it went to auction because he showed up at the courthouse. I said, “We don’t want to kick you out immediately, but we need occupancy to the house. If you can give me occupancy to the house and have all your stuff out in 21 days, would you be okay taking $1,000 cash? That’ll give you a deposit on your next place to live.” He was like, “Yeah, I could do that.” We had an attorney draft up agreement and we had him sign it. I signed it. Twenty one days later, I gave him the cash and he gave me the keys to the house with all this stuff out.

That sounds like the exact way you’re supposed to do Cash For Keys, having an attorney-drafted agreement. I can say that all the Cash for Keys I’ve done has been through a text message or through like, “If you get out by the end of the week, I’ll give you $500 or I’ll give you $1,000.” They’re like, “Okay.” They’d leave and I do it. I recommend go Jordy’s way, not my way.

Especially if you’re giving them three weeks. You better hope that in the end, they’re going to be out. It’s good to have a drafted agreement at that point.

That was one of my concerns because he was a hoarder. It was top to bottom. He had stuff in every inch of the house and I knew that he couldn’t get out in three days. He was an older gentleman, very unfortunate circumstances. You look around and go, “There’s no way he’s moving out in one weekend.”

Do people ever look at you as the mean landlord because you made this old guy leave this house and all this stuff? Do you have anybody like that in your life?

I don’t know. I’ve never asked.

I feel like I’ve got some. They’re not in my life anymore, but I’ve got some people that think all landlords are mean and all they do is try to extort people for money and stuff. Obviously that’s not the case. We try to give people very good, valuable places to live.

Let’s go back to that deal. You were saying how deep do we want you to go. We would love to hear the breakdown. What were you paying for that loan that you took out? What was the monthly payment on that? What kind of rent were you getting? You said it was a twofer. What was the second one?

I paid $225,000 at auction for that. The hard money lender lent me $200,000. I had to 10% down, give or take. Once we got him out, we spent $40,000 renovating the house. Most of that was the kitchen and finishing the basement. It was a 2-1, which I bought it at auction. I thought the basement was finished. That was a little bit of a surprise to find out it wasn’t. We went in, finished the basement and made it a 5-bed, 2-bath. At that time, I refinanced it and the appraisal came in at $295,000. I was able to refinance $225,000, which pretty much paid back my hard money lender. Luckily I didn’t have any interest payments. It all accrued. I paid off my fee to my mortgage broker. I was into it for about $60,000.

It’s not quite a perfect BRRRR because you were in it for $60,000, but that is a very good BRRRR. Even though you hear all the time that you have to pull all your money out for it to be a successful one, but that’s not the case. That’s like a home run BRRRR or it happens, but maybe it happens like 1 in every 50 or 1 every 25 times, not every single time. That sounds like a solid base hit single double for your first one. Let’s talk number two there, the one with the twofer.

I bought that in July. We were done with renovations in September and that’s when my refinance was done. It was October 2nd. I remember the day because I got an email from a wholesaler and it said whatever this street is in Midvale, Utah, purchase price is this and they had no pictures. This wholesaler is notorious for never sending any pictures out because they wanted to get everyone into their little open house to try to bid the price way up.

 

Don't try to time the market. Always be buying. Click To Tweet

 

I looked at it and I was like, “That’s right around the corner from my first rental that I bought. $225,000 was what I paid at the auction. It can’t be worse than that house. I can sell this to another investor.” I went and looked at it and it was super clean and rent ready for $225,000. I was like, “This is awesome. I could buy this and rent it day one. I don’t have to renovate it.”

The problem was it was right next to the freeway. At the time, the Department of Transportation was widening the freeway, so it looked like a mess. Everyone that was going through the house was a flipper. I knew most of them and they all wanted to flip it. They’re like, “No, this isn’t a deal. It’s too skinny.” I’m over here doing the math in my head. I’m like, “I could like BRRRR into this for almost nothing. If I can get it for $225,000, I know it’s worth $295,000 because I have this appraisal from three weeks ago. I’m going to try to get it.”

I haggled with the wholesaler and I was like, “The max I can pay you is $225,000.” I ended up getting it for $225,000. I sent a handyman in there for $3,000 and he did some paint touch-ups, fixed a couple of little electrical issues, and immediately refinanced it and I was into that property for $3,000. Funny enough, that’s been the story of my investing career. I’ll do a deal and it’s a base hit and I’m like, “That’s mediocre.” Almost immediately after, something else shows up in my life that’s a total home run.

Do you think that the wholesalers maybe looked at your property that sold a few weeks prior for $225,000 and were like, “It’s worth $225,000,” and they didn’t do any research on it?

No, because we had bought it back in July at auction and Utah’s a non-disclosure state, so they wouldn’t have known what it sold for unless they were at the auction. I think they had to tie it up. They made $7,500 wholesaling me that, but they had tied it up like, “Someone will buy it as a rental.”

I’m curious if you can go into the pros and cons of buying at auction or foreclosures because it sounded like you had helped people do it as an agent. I didn’t think that people would need an agent for that. I was a little bit surprised by that. I imagine for you as someone who’s super handy, it’s maybe a little less risky, but talking about the fact that people can’t see it ahead of time and some of those risks involved there.

I can speak to my experience here. I don’t know what other auctions are like. Usually, there’s a notice of default and then they follow the foreclosure process and they have a sale date. That sale date that the trustee or the attorney that’s in charge of processing the foreclosure will stand up at the courthouse and he’ll read off, “This is the address. This is the opening bid.” You’ve got to have a check for $20,000 non-refundable if you win the bid and then you have to fund the rest of it in 24 hours.

It’s usually pretty serious investors that go and bid on these houses because most of the time, you can’t get in them beforehand. You can certainly drive by and take a look and try to get in. For all intents and purposes, you can’t get into the houses beforehand. You’re buying based off of a worst-case scenario where you’re assuming everything has to be done on the inside now. You certainly try to peek in the windows and see if you can see the interior condition is like without getting shot, but it’s definitely not for new investors.

Craig, we should probably move into the second part of our show. What do you think?

Before we do, Jordy, you hinted at you started with flipping 1, 2 houses and now you said you did 57 in three years. How did you go from 1 to 2 to 57?

What I did is when I first started, I was flipping on 0% interest credit cards. I’d max them out and I’d go and renovate this house and then I’d take this wheelbarrow full of cash when I was done and go pay off all the credit cards so I didn’t get charged interest and then I’d be left with some money. I’d go buy a rental and then do it all over again. After buying a few rentals, I was like, “I’m going to reinvest so that I’m not having to pull from all these credit cards everywhere and remember to make these minimum payments.” It was too complex.

ITF 90 Jordy | Financial Independence
Unscripted – The Great Rat-Race Escape: From Wage Slavery to Wealth: How to Start a Purpose Driven Business and Win Financial Freedom for a Lifetime

I started reinvesting those profits into flips and we had worked our way up to where I had a full-time crew and we would go from house to house. In addition to that, I would buy other houses and subcontract those out with guys that weren’t my crew. The only reason I was flipping that much was to feed my rental property addiction.

At first, it sounds like you’re scrappy. It’s like any business. You start off scrappy. You build your nest egg, you build some wealth, you’re able to use your money in efficient ways to then scale your business. Now you’re able to each flip fund the next one. I suspect that that’s like a snowball effect where eventually you’re doing 3, 4, 5, 6 at a time pretty easily. How many folks do you have going on at a time nowadays?

We’ve had up to four at one time. But the whole time, I’ve been helping this builder sell their inventory. That’s been my day job. We’ve reinvested the flip profits into either rental properties as they came up or more flips. At a certain point, you get to bandwidth. The last couple of years have been difficult because it’s hard to find subcontractors that show up, especially right now. Material prices are all over the place if you can even get it. It’s been interesting flipping.

One last question. Where does your rental portfolio land you now? How many units do you have? How much passive income do you have from that? Just roughly if you don’t know the exact numbers.

Right now, we own 28 rentals and I have seven in escrow that we’re going to close off of a 1031 exchange. We have another sixteen. It’s a sixteen-unit apartment that should close. When that all shakes out, we’ll be right around 50 units.

Are these all in Utah?

Yeah.

Do you want me to go deeper on passive income?

Yeah.

We collect gross rents right now. We collect right around $30,000 a month in rent. I have a property manager managing most of our stuff and we net right around $7,500 a month. It’s pretty much put us in a place where I could retire now if I wanted. I’m enjoying what we’re doing, though, so we’ve thrown on some gas on the fire and seeing where it can go.

That’s a great position to be in. Having enough passive income to cover your expenses allows you to no longer have to do things that you don’t want to do. You can always scale back. You can always push the gas. I was talking to one of my buddies, Nate Smith. I don’t know if you know him. He was talking about a pendulum. He goes through this pendulum of sometimes he’s on this work hard and push. Sometimes it’s on this chill, and he’ll go through a couple of months of going back and forth in this pendulum. It’s cool to be able to lean into that and be like, “I don’t feel like working so hard right now. I’m going to dial back,” and when you’re ready to kick it up. That’s another great part of being financially independent. I’m ready to get into the next part of the show. Z, are you ready?

 

Sometimes, more is better. Sometimes, it's not. Just balancing everything and living a life that's true to you, because it's going to be different for everyone, is the real cheat code. Click To Tweet

 

Yeah, that perfectly explains my life right now. I’m chill. Thanks for saying that. I feel like that gave me a lot of permission because I was going so hard. I was feeling super burnt out and I’m like, “I’m not chill right now,” but it’s so great that you can make that choice.

You can chill. It’s not a race. Life is a fun thing. Make it fun. Jordy, we are about to head into the next part of our show, but before we do, do you have any last words of wisdom?

I feel like everyone is trying to time the market. If there’s one thing I can tell you is don’t try to time the market. Your time in the market is always in the market. Always be buying.

Let’s head into the next part of our show and that is the final four.

Jordy, what are you reading right now?

It’s called Unscripted: The Great Rat Race Escape.

You’re still learning how to escape.

What is the best piece of advice you’ve ever received?

Buy rental properties

Question number three. What is your why?

It’s my kids. It’s creating generational wealth. Time with my kids is super important. I’m never going to be able to have a six-year-old daughter again. As soon as she’s seven, it’s gone. That’s super important. As they grow through life, I want to teach them all of this non-traditional stuff that you don’t have to work until you’re 65. You guys said it before, but this is all about having choices and having options and doing what you love versus being stuck in a job you hate for the next 40 years just because you have to pay your bills.

 

ITF 90 Jordy | Financial Independence
Financial Independence: Financial independence is all about having choices and options and doing what you love versus being stuck in a job you hate for the next 40 years just because you have to pay your bills.

 

Last question here. If life were a video game, what would the best cheat code be?

It would probably be the whole financial independence movement where you have the option to do whatever you want. After you hit a certain level and you realize that maybe more isn’t better. Sometimes more is better. Sometimes it’s not. Balancing everything and living a life that’s true to you is the real cheat code because it’s going to be different for everyone. The people figured out that there’s a lot out there to do in life and enjoy it.

Where can people find out more about you?

I have a podcast called the Financially Free Investor. You can check us out there. You can check me out on Instagram and Facebook. My Instagram handle is @JordyClark_REI.

Definitely go check out Jordy’s podcast. One thing I like about your podcast is you said you don’t care if you have any listeners. It comes to the point of authenticity. You’re not looking to get anything from it, or at least that’s what it seems like. It’s for your daughters and your future kids. That way, they can go back and listen and you can teach them all the lessons you’ve learned and have it all recorded. I think that’s super cool. I love that.

Thank you.

It was great having you on. We’ll talk soon.

Thank you.

That was Jordy Clark, Z. What’d you think about Jordy?

It’s amazing to see what people do in just a few years. Just getting started on 2019, which lots of people thought was the top of the market didn’t turn out to be. He just exploded from 1 to 2 to now 28 and almost 50 units. It’s incredible what people can do, especially when they’re recycling their funds like using BRRRRs. I thought it was very inspiring for people out there that are wanting to quit their jobs or make a change for themselves. You can be there in a blink of an eye.

It’s clear that definitely during different market cycles, different strategies work at better times and people would argue that BRRRRing might be hard these days because of increasing labor costs, the houses are increasing.

The interest rates are going up.

All of these things are like, “Why are we BRRRRing?” If there’s a will, there’s a way. Jordy is figured out a way to continue to flip, continue to BRRRR and still make a profit. Is it harder? Sure, but the silver lining to harder things is that there’s simply less competition. When you’ve got less competition, you can easily find better deals. Maybe there are more people in distress that need to sell or whatever it is. Find a way to play to your advantage.

If you’ve always wanted to BRRRR and make it happen, don’t let the market be an excuse because that will be an excuse for the rest of your life. Either prices are too high, interest rates are too high, rents are too vacant or there’s a pandemic or whatever it is, but there’s always a reason to not buy. I would say get in there, start buying, start taking action and you’ll see tremendous results. That’s my soliloquy of the day. Z, do you have anything to add before we go ahead and conclude?

Not right now.

If you’re reading all the way to the end, clearly it means you like us. Please, leave us a rating and review on iTunes. It helps us out tremendously. Let us know when you do. You can shoot me a message on Instagram. I’m @TheFIGuy. Zeona is @ZeonaMcIntyre. I’m waiting for the day to be Z Money. For those that don’t know, it’s like an ongoing joke every episode. Definitely let us know. We’d love to hear from you all and we’ll see you guys all next time.

 

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About Jordy Clark

ITF 90 Jordy | Financial IndependenceJordy Clark is a co-founder and Managing Member of Silicon Slopes Capital Partners, LLC. Mr. Clark oversees the company’s acquisitions and business-development activities. He also co-directs Silicon Slopes Capital Partners overall investment strategy. He brings to the company over 9 years of experience in Real estate investing and sales in the Greater Salt Lake Area.
 
In addition to Silicon Slopes Capital Partners, LLC, Mr. Clark is the lead sales agent at The Benchmark Group brokered by eXp Realty. He is an active Agent/Broker and his small but efficient real estate sales team sells about $40 Million in volume annually. He also owns a house flipping company that flips about one house a month. Over the last four years Jordy has spent over $3.25 million dollars renovating real estate. Almost all of his portfolio has been built with the BRRRR method and currently sits at about 9 Million worth of real estate in the greater salt lake area.
 
When Jordy isn’t thinking about real estate, he enjoys time with his wife and two kids, (Brinley age 6, and noah, 2 ) and enjoys being outdoors.