9 Rules of Marketing Every Real Estate Entrepreneur Needs to Know

Mike Hambright (00:33)
Hey everybody, welcome back to the show. Today I’m here with the one and only Mr. Tom Krol. We’re gonna be talking about how to be authentic as an entrepreneur, kind of in the era of AI and the nine rules of marketing, which kind of fit hand in hand together. So Tom, what’s up buddy? Good to see you. There we go, there we go. Yeah, awesome. Always good to see you buddy. ⁓ this is an interesting topic. There’s a lot of AI stuff going on. It’s amazing. And if you’re like me, probably a lot of entrepreneurs are getting hammered with.

Tom Krol (00:46)
Bam! How are you, man? It’s good to see you.

Mike Hambright (01:02)
ads right now for AI to make your life easier. And a lot of it’s stuff like faceless ads and create faceless YouTube channels. It’s like taking the entrepreneur and trying to get them to hide behind somebody other than themselves, right? And I have a feeling, I mean, it works for scale and it works for people that are ⁓ extreme introvert and just don’t want to be the face of their thing.

But I think for you and I, like we’re the face of our thing. Like we value real relationships and friendships. And I think ⁓ in the era of AI, that’s what’s gonna separate those that are successful from those that might not be because they’re able to, I think people more than ever want to work with real people instead of some bots, right?

Tom Krol (01:51)
Yeah, think that’s more true now than ever. the guys who double down on the basics are gonna, we’re not gonna have the most success. We’re already seeing it. The guys who double down on authenticity have the most success. So yeah.

Mike Hambright (02:04)
Yeah, so I think AI is a great, like I’m finding, you some people are like, how do I slash my whole team? Like, how do I like eliminate everybody with AI? And I’ll tell you at this point, my team is, had three new people that started yesterday, like we’re growing like crazy, you know, but if my team doubles this year, I feel like we’re gonna do three or four times more in productivity because of AI. So I’m not really using it as a way to slash, I’m using it as a way.

to scale in ways that we never could before and using more people than we ever had before, really, honestly.

Tom Krol (02:34)
Yeah, I totally agree. think that AI right now is overhyped today. think five years from now, who knows what AI is gonna be able to do, but it’s definitely overhyped and it’s it’s interesting, right, because AI right now is a luxury, and what I mean by that is it’s a distraction. It’s a very, very shiny object that a lot of people are spending hours and hours and hours on and not getting any results. Can it do really cool things? And yes.

but even in the sense of being a project manager or a partner or somebody to review, ⁓ I’m finding that with my clients, if I asked for some of their AI output, it sounds exactly like them. So I know that AI is just feeding their ego and they’re loving it, but we’re not focusing on revenue needle moving activities. that needs to be in first position.

Mike Hambright (03:25)
Yeah.

Yep, so I know we’re gonna sprinkle together the kind of nine rules of marketing and kind of how to be authentic as an entrepreneur as well. Before we jump into that, Tom, if it’s possible that somebody’s watching this right now and doesn’t know who you are, maybe speak to that person and tell them a little bit about who Mr. Tom Krol is.

Tom Krol (03:42)
What they don’t know Tom.

Thank you brother. Well first of all I’m honored to be on the show. You bro you’re you’re you’re you’re a rock star so this is an honor to be even asked to speak so I appreciate that. Thank you. And yeah my story is the same as every other person who you’ve ever had on who’s had any success which is I was broke and poor and struggling and now I found real estate and then I you know took an attitude of progress not perfection and I did massive imperfect action and I.

You know, I had a mentor. did everything he told me to do, who is my older brother, Todd Toback. Thank goodness I had him. And I just did my first deal with a ton of, made every mistake in the book. And I think that the takeaway from, you know, the same story that I have as almost every single other investor who’s ever, you know, been on your show, I’m sure, is that, ⁓ you know, rock bottom for a lot of us can be the strongest foundation to build on, because you’ve got nothing to lose.

But you got to get your act together because there is a trap door at rock bottom and a lot of people don’t, you know, they don’t talk about that, but you could just keep going down. So ⁓ yeah, I started, I started real estate investing. Then I started, I started coaching it and built that company up and I eventually sold my, my real estate investing company. Then I eventually sold my coaching company to Brent Daniels, who’s such a great guy and he’s still crushing it out there today. And ⁓

Yeah, now I just do, I work with real estate coaches and I do my real estate investments. I’m a big believer is as you get older, fewer, bigger deals. Bigger, fewer deals. That’s kind of what, you know, when I first started, I was the same as everybody like, I just want, I want like 100 doors and I want to live on the beach with passive income from rentals. It’s funny now, because, by the way, if you’re listening to this and you think that rental properties provide passive income,

Mike Hambright (05:27)
Yeah.

Tom Krol (05:33)
let me know the addresses of those properties so that I could buy them for 60 cents on the dollar in about three years. but yeah, that was kind of my track is I just started my first deal. made $2,000 and then it was off to the races and I love it. It’s been a great adventure.

Mike Hambright (05:35)
Yeah.

Yeah, awesome. Well, let’s jump into these nine rules of marketing. Let’s kick it off.

Tom Krol (05:54)
Yeah, so what we did is through coaching all of these real estate investors, over 5,000 of them for now a decade and over a decade, is we just found there is a clear line and like you and I were talking about, Mike, right? This is gonna become so important, these basic rules based on authenticity as all of these act as if people and fake it till you make it, people are out there. Authenticity.

is going to rule the day. It’s absolutely gonna be the people who are following the basic rules. So what we saw was we said, okay, if we take the top 250 people that we’ve ever worked with who’ve gone out there and they’ve just crushed it and they’ve made millions and they’ve done well, what are these guys and girls doing ⁓ that the other guys and girls aren’t doing? And I’ll tell you something interesting about the nine rules, right, is that what is really interesting about the nine rules is that the inverse is also true.

So very often with the business rules, sometimes something can sound good and you’re like, this is a good rule. Like, you know, the grass isn’t always greener on the other side or whatever. But then you’re like, well, hold on, wait a second, actually, right? Sometimes the grass is absolutely greener on the other side, right? So what’s good about rules is that they’re always true, right? If you see someone who’s struggling, I guarantee they’re breaking three or more of these rules 100 % of the time. And that’s where the rules come from. It’s not just what the successful guys are doing, but…

we saw that the guys who are struggling, they were doing the inverse and getting the exact opposite result. So, easy peasy, you ready? We’ll jump into them. Rule number one is copied. And these are in order of importance. Copied is the number one thing that we see. You have a new entrepreneur and they’re all excited and they’re like a kid with a new pet and what do they do? They take the Mike Hambright postcard or the Mike Hambright sales script or.

Mike Hambright (07:24)
Yep.

Rule number one, let’s do it.

Tom Krol (07:44)
DM and they change it and they say, well, you I did exactly what you said it’s doing, except for I just changed this one little thing at the end. The number one thing that we’ve seen from rock stars is you tell them what to do and they photocopy what you do and they implement it. That is the number one, two and three rule, right? That’s like the top ⁓ differential is when your mentor gives you a postcard or a sales script or a Facebook post to make or whatever it is, ⁓ copy it.

and don’t change it. And that is just the knowledge that there’s 6,000 years of recorded history and all of the best marketing people have already written all the best marketing and it’s not your job to recreate marketing for your little niche. So copy, copy, copy.

Mike Hambright (08:26)
Yeah, I’ve coached

a lot of people too and that happens all the time. There’s people that are like, they’re overly creative, right? They’re like, well, I heard what you said. And then I like, had to put, they can’t not put their stamp or their little twist on it. And it’s like, dude, just do it like this. Like this works. So stop trying to start over. Stop trying to redo it.

Tom Krol (08:40)
Right?

Yeah,

don’t reinvent the wheel and submit. And a lot of entrepreneurs, they have a problem with authority. So they don’t like to submit to Mike Hambright. They don’t want to go under his mantle. the bottom line is, I mean, Mike Hambright is phenomenally successful, if I’m allowed to say that. I don’t know if people realize how successful you are. If he tells you to do something, just do it. Don’t change it. Don’t use your entrepreneurial creativity to recreate marketing that’s already proven.

Mike Hambright (09:11)
Yeah, that’s great. And for those of you out there, if you weren’t doing what I’m saying before, you just got authorization from Tom. Just do what I say. Just do what I say. All right, number two. Let’s talk about number two.

Tom Krol (09:19)
Do what I say, that’s it. Easy peasy. Number two

is, number two is you gotta go big or you gotta go home. This is so important, this will change, there’s somebody listening, it’s gonna change their life. Marketing is not a game of skill first. It is a game of numbers. Most people who are selling their home do not want to sell you their home and most people who do wanna sell a home do not want your low ball price.

This is a numbers game first. All marketing is a numbers game. So if you have a lot of money, go big on with your money. If you don’t have a lot of money, go big with sweat equity and hard work and grit. But either way, it is a numbers game first and foremost. And the problem is, again, if you look at the people who struggle and you say, how do we know, what are they doing wrong? What do you see that they do all the time? Somebody who’s making under $100,000 month, right? What are they doing? Okay, here’s what they do.

Well, they did a little bit of marketing and then they got a result. This is the worst feedback because now in their mind, this is a statistical anomaly it’s called, right? So now they think, well, if I sent a hundred postcards and I got one deal, if I send 200 postcards, I’m gonna get two deals. No, you’re not. No, you are not. But if you send 10,000 postcards and you get four deals, you can send another 10,000 and get another four deals. So you must go big with marketing 100%. Yeah.

Mike Hambright (10:44)
Awesome, I love it.

Tom Krol (10:46)
That’s the key. Okay,

Mike Hambright (10:47)
What’s next?

Tom Krol (10:47)
number three, consistent. You gotta be consistent. Snow, rain, hail, sleet, Christmas, Kwanzaa, Fourth of July, Hanukkah, Memorial Day. Every single day, whatever your thing is, whatever your marketing is, it’s gotta be, it’s like telling a story. And what people don’t realize is sometimes in the old days, you used to call this like your clients or your prospects to people selling houses, they need a lot of.

certain number of touches. What we now know is that’s not really true. They need a certain number of indoctrination hours. So the more they see of you, the more consistently they see you. And we normally say that’s going to be somewhere between two to seven hours to get a lead. The more that they see that and they can engage with you and be indoctrinated into the way you do things, Like speed and convenience in exchange for price for an investor standpoint. The more consistent that is, the better results you’re going to get.

When you see somebody who’s struggling and you’re like, why are they struggling? And they have this roller coaster of income. Just look at the output of their marketing. It’s exactly the same formula. It’s inconsistent. So got to be consistent no matter what.

Mike Hambright (11:56)
think especially with in the real estate space, the investing space, buying at a discount, you’ve got to be there when they’re ready, right? I just thought of this analogy. We have a trip coming up. We have an investor fuel trip coming up. This will be the third time we’ve done this. You should come with us, Tom, bring your family. We’re going to Yellowstone. We go snowmobiling and dog sledding.

Tom Krol (12:03)
Yes.

Let’s go.

awesome

Mike Hambright (12:13)
All this stuff in Yellowstone, it’s amazing in the winter. It’s really cool. So ⁓ everybody’s heard of Old Faithful. It’s like a geyser that goes off. I don’t remember what it’s like. It’s around every 90 minutes. Like they know when it is. But I just came up with this analogy. I’m the king of analogies too, by the way. So.

Tom Krol (12:24)
Okay.

I love it.

Mike Hambright (12:32)
For the people that are like, well, I’m gonna drive by every once in a while and see if it’s going off. Like you’re never, you’re always gonna miss it. You’re never gonna be there at the right time. But if you said, I’m gonna stand here, like every minute I’m gonna check in until it happens, then it’s gonna happen. Because a lot of people that we buy houses from, you know, they’ve been distressed for years, if not decades. It just took something happening and you don’t know what it’s gonna be. It could be.

Tom Krol (12:39)
Right.

Right.

Mike Hambright (12:55)
the cable went out, it could be they got another medical bill, it could be something. And they’ve needed to call you for 10 years, but today is the day. And if you don’t answer, guess who they’re gonna start going down the list and calling the next person, the next person, the next person. But you’ve gotta be there when the geyser goes off proverbially.

Tom Krol (12:59)
The grandfather clock fell over. Yep.

Brother, consistency solves every problem. And again, if you look at the people who make it and the ones who don’t, you just look at their consistency. Easy peasy, lemon squeezy. Number four is singular. You see this with all of the greats. So the best way to see singular, the best way to see it in real life is talk to somebody who’s struggling in real estate and say, how are you gonna find your motivated sellers in this case? And they’ll say, ⁓ I know exactly, I’m gonna be everywhere.

Mike Hambright (13:19)
Yeah, yeah, yeah, yeah. Cool, what’s number four?

Tom Krol (13:40)
I’m gonna be on TikTok, Facebook, Instagram, every social media clubhouse, and then I’m gonna be on billboards and bandit signs and TV ads and radio ads and direct mail and PPC and PPL and blah blah blah blah. If you talk somebody who makes $100,000 a month, you get the same answer every single time. I picked this one channel. I totally dominated it. I know the right time of day, the color of the ad, the font, what it should say, what it shouldn’t say, what time to send it out, how to respond to it.

I totally dominate it singular, like the one thing from Gary Keller, the charging one thing from Scott Alexander, all of this 6,000 years of recorded history tells us one thing, one thing, one thing. The newbies, they go out, half of them go, I wanna be everywhere, and the ones who make a million dollars, they go out and they dominate one channel, they delegate it, and then they move on to the next channel. So if you’re gonna start in this game or you wanna dominate real estate, pick one channel. What channel is the best? The one that you think is the best. Pick that channel.

Do TV ads and totally dominate TV ads. You should know every single thing, how to negotiate the best price, what the ad should say, da da da da da da da da da da, all of it. That’s the way you dominate. Easy. Number five is easy. You already alluded to it, fast response. This is, brother, I don’t know, you see this from agents all the time. You see a property for sale, you might wanna buy it, you call, you get voicemail. The leads that you lose are the ones you don’t respond to.

Mike Hambright (14:50)
That’s great. Awesome. Yeah. What about number five?

Tom Krol (15:07)
The hot leads are the ones that needed to be responded to fast. So just secret shop your company. Lob a call in, see how long it takes to get a phone call back. If it’s more than two minutes, something’s broken in your system and you’re gonna miss very hot leads for sure, especially after hours.

Mike Hambright (15:22)
funny that you say that last week this is super random but this is out at the ranch I’m basically this is I’m off on a tangent a little bit here I we we have a well that feeds our house it’s normally great but lately it’s been a little bit there’s like some brown water coming out of some it’s a little weird I’m like okay maybe I need a whole house filter

Tom Krol (15:29)
No, no, go, go, go.

Bye.

Mike Hambright (15:41)
Somebody

mentioned that. I’m gonna get a whole house filter on them. like, I’m gonna get it. I don’t even know how much it costs, but I have to get it. So I call two places. I actually sent in online on their website, did a Google search, sent it out to two people. One of them I got an immediate response from, like immediate. It was like within a minute. ⁓ we scheduled it. Within five minutes, I was scheduled and they’re coming out this Friday when I’m out there again. The second one I’ve never heard back from. I just realized that while we were talking here, I’ve literally never heard back from the second one. That was last Friday.

Tom Krol (16:08)
Yes.

Mike Hambright (16:10)
Hahaha.

Tom Krol (16:10)
Brother, I’m telling

you people, especially once you sell houses motivated, they don’t want the best deal. They want the most convenient one. they want their problem solved. So fast response. And you see, you see this 100 % of the time with the people who fail and the people who succeed. People who fail, Mike, hold on one second. Okay, I gotta leave. And that’s what they do. The people who don’t, they’re like, okay, go ahead, what were you saying? So fast response.

Mike Hambright (16:17)
They want their problems solved now, yeah.

Yeah, well, here’s the truth. I’m

pretty sure that the one that never responded to me was a paid ad. Like I just did a Google search and I clicked on an ad, you know? And so even more, it’s like people are paying for that and they’re not tending to the leads. That’s crazy.

Tom Krol (16:38)
Isn’t that crazy?

I love it, yeah. Number six, trackable. It’s gotta be trackable. All great men and women of consequence are focused on marketing, which is dollar in, dollar out. ⁓ All the people who struggle and they’re like pointed in or they’re amateurs or they always say things like, well do what you love and you’ll never work a day in your life. I don’t even know what that means, but all those people who say like they’re pointed in instead of out towards the marketplace and serving others and being useful to others and reducing other people’s suffering and all of that.

The people who are pointed in are 100 % of the time, ⁓ we’ll use the word branding. And the people who are like, wait a second, I’m a business person, I need to be pointed out. I reduce my suffering by first reducing the suffering of other people. Those people are focused on marketing. Marketing means dollar in, dollar out. Dan Kennedy teaches us this. So does Ryan Deiss and Pat Flynn and Amy Porterfield and every, I don’t care who the marketing person is. Marketing is not.

Branding, branding is a result of good marketing. Dan Kennedy tells you this, if it’s not trackable, it’s branding, don’t do it. if you can’t say, if I put in this much time or money and I get this much back, then it’s not trackable, you’re wasting your time, you’re pointed in, you’re doing what feels good. And really what you’re doing is you’re seeking comfort and you’re getting vulnerable instead of seeking discomfort and getting stronger and wealthier and more successful. So track it, trackable or don’t do it. Yeah.

Mike Hambright (18:13)
That’s awesome. That’s awesome.

What’s number seven, Tom?

Tom Krol (18:16)
Delegated, ⁓ can’t, ⁓ guys, I’m gonna tell you, anyone who’s listening to this right now, I would not hire any one single one of you to do my marketing because you’re all entrepreneurs, which means you are literally wired not to do this consistently and regularly, the boring mundane stuff. So, delegate this. My first hire was Lorena, she still works with Brent Daniels now at Wholesaling Inc.

She’s probably the wealthiest person in her town. And I love her. She’s awesome. Her and her daughter Max and her husband, they’re awesome. We flew them down to Orlando. You can hire an awesome virtual assistant. And here’s the secret. They’re gonna make mistakes. That’s okay. Like let them make mistakes. I’d rather have them make mistakes and get it 40%. People would say 80%. Get it 40 % right. Just do it consistently so I don’t have to do it. And it’s way better than you doing it 40 % of the time.

All the best marketing is delegated. And of course we see this with the newbies. market, they get a deal, then they get distracted with the deal, the marketing falls away, and now they have to restart marketing, and then they eventually go out of business, and they get a job at Verizon selling phones, right? Because they can’t do it because they’re not delegating.

Mike Hambright (19:23)
As you know, I own a lead gen company, Investor Machine. this is, you so I’m always, anything I do now, if I can outsource it to somebody else, I do it, right? The problem is that a lot of real estate investors, they were conditioned early on one way or another.

They’re looking for cheap houses, they’re looking for cheap materials, cheap labor. Everything is like cheap. They’re trying to do everything cheap. And honestly, I was that way for a long time too, but you get to a point where you realize, look, the only way for me to grow is to like not, there’s no way I can be as good of a lead generation.

for myself as an agency that does it for 200 clients like that. They can learn their learning curve is so much faster and everything they do no different than I don’t want to become an electrical contractor because I need some electrical work in my houses every once in while. I’ve got to outsource that to an expert. But I think because there are some hustle tactics that a lot of new real estate investors can start that they get caught up in that.

like this is just part of the business, I have to do this. And the truth is, is inbound leads are two to three hundred percent more profitable than outbound leads. All those hustle tactics anyway. And you can’t scale the hustle tactics. I mean, I think a lot of people have proven that. They might hire call centers with dozens of callers and all that. But at the end of the day, I don’t know many people that were doing that, that are still doing that. They ultimately hit a wall.

Tom Krol (20:43)
Brother, it’s inappropriate for you to do it. It’s wrong, it’s morally wrong. There’s a great book by Daniel Lapin, it’s called Business Secrets from the Bible, and he talks about specialization, and it goes a little bit deeper than Gary Keller’s The One Thing, but you don’t see wealthy people stealing from other people by doing other people’s jobs. You just don’t see them doing it. Wealthy people, Julie knows.

you know, if there’s something that needs fixing around the house, like we’re hiring somebody, you know, he’s not, he’s not going to be as, you know, he has to be less good looking than me. So I’m not getting some six pack in overalls to be changing a light bulb and here, right. But there is a, but, but all kidding aside, it’s like, you got to focus on specialization, right? You’ve got to focus on what you do because that’s how you bring the world value and that’s how you’re compensated. So when you go and you’re in the driveway fixing, you know, changing your own oil to try to save money on an oil change,

Mike Hambright (21:12)
Not the guy.

Yeah.

All right. I’ve said it to many people. I’m like, would somebody else hire you to do that for their company? And if not, why did you hire you? All right. Yeah.

Tom Krol (21:36)
You are, you’re making a rookie mistake, you know, unless you… Yeah.

Right? I love it. Brother, easy peasy. All right,

eight and nine are super easy and we see this all the time again between the people who make it the people don’t. Number eight is double checked. So put a little tiny checklist in place. You don’t have to get fancy with Gino Wickman and Traction or EOS and Steve Harnish, all these guys and the E-Myth and Gerber and.

It’s a lot of work, right? Instead, just get a little tiny piece of paper, a little book called Checklists, and mine’s right over here, get a little book called Checklists, and just make a checklist. There’s a great book that Brian Tracy recommends called Checklist Manifesto. Just create a checklist. And if my 17-year-old daughter or my 11-year-old daughter, Lily, can’t read it and understand it and do it, it’s too complicated. So create a checklist for your marketing. Every Wednesday at two o’clock, a little bell goes off on your calendar. Make sure all the phone numbers are working.

All the websites are working. The calendar page and the da da da da da and the phone number, whatever. Just make sure it’s working. It takes one VA, two minutes to check. I cannot tell you how many people you and I know who are like, I put $50,000 into paid ads and I still, and then we find out the website link isn’t working on the whatever. Double check it once a week, it’s easy. And the last rule of marketing is all good marketing is A-B split tested. That’s it, number nine.

A B split test your marketing. It’s so simple. It’s so ridiculous. It just means that, and when you split test, A B split test, what it means is you have one thing running and you change just one thing about the second thing running and you compare the results. That’s all it means. So you change the color, the font, the time of day, whatever, but you just change one thing and then you say, okay, A is slightly better than B. So we’re going to go with A and then you split test again. That’s it. That will keep, that’s like a,

It creates your business into like a breathing exercise where, you know, you’re getting the things, you know, you don’t actually want money. You actually want the things that you think money can bring you. And if you treat a business that way where you’re not sacrificing the things you want from money to get more money, you’ll have more time. It’s a breathing exercise. You’re just like, and that’s the way it works. to the people who are

You know, you see it and I see it. The people who are doing the best, anybody over 100K per month, they’re relaxed. Like they’re not pulling their hair out and you know, all these signs, hustle harder, stay hungry. What? stay hungry. What are you talking about? I must know. I don’t want to stay hungry. I mean, I’ll be disciplined and have good habits, but I’m not going to like, I hustled so I don’t have to hustle. I didn’t hustle so I could keep hustling. There’s seasons to life. Like, yeah, hustle.

Mike Hambright (24:20)
Hahaha. ⁓

Yeah, yeah. This is a little bit

of the season of hustle for a lot of people. And that’s one of the things that I talk a lot about is kind of building a white. I always use the phrase building a wider mode. Right. So there’s a lot of people back to, know, we talked about this a little bit ago. Some people are have let’s just say if you go back three years ago for you, some people had a business that was OK, like they were doing well.

Tom Krol (24:42)
Yeah.

Mike Hambright (24:52)
but not well enough to weather the storm that we’ve had over the past few years. And so their moat wasn’t wide enough, right? They couldn’t protect themselves from the outside. And I think the key is to build a business that allows you to make more money than what you need so that if things get difficult, use some cushion, right? You’ve got some room for error there. And the problem, the opportunity there is if you also have that wider moat and you have some room for error, then you have the ability

to try other things to scale without disrupting your normal life, right? Like basically, you were a salaried person and you cover all your, just to say as an entrepreneur, once your bills are covered and that’s safe, then it allows you to take more risk and try more things. mean, a lot of successful entrepreneurs.

Tom Krol (25:25)
Yes.

Mike Hambright (25:39)
have kind of protected their home, if you will. They’ve got the bills covered, that’s not at risk. And they’re kind of playing with the house’s money now to test things, right? ⁓ If you’re just barely getting by, then you tend to like buckle down and be afraid of everything because your moat is not wide at all. Somebody could just step over it.

Tom Krol (25:53)
Yes.

And a lot of it is just basic, like, silly things, like living off of less than you earn and increasing your net worth and putting money into the S &P 500. Because most, I love these landlords who are like, I’ve got a 6 % cap rate. And you’re like, what does cap rate mean? And they’re like, cap rate means the differential between the what? So the reality is that, like, go for simple.

Go for easy, read the psychology of money by Morgan Housel. The only people who are free are the people who have enough. If you ask everybody who is very wealthy right now, who is still in hustle mode, and you say, well, what is your goal? What’s your net worth goal? It’s almost always exactly twice as much as they have right now. You will see this. I’m telling you, you could do this experiment, say, what’s your net worth? And they’ll say, 10 million. They’ll say, well, what’s your goal? And be like, 20 million, then I’m done. It’s it doesn’t matter what the number is, it’s just twice as much.

It’s just funny, like, if you just follow simple rules and you strive to be the best instead of the biggest and you live off less and you are a little bit frugal, there’s freedom and frugality, you don’t have to sacrifice all the things you want for money to get money. Like, you can just take a deep breath and relax for a second and enjoy life. what is… It’s so funny because the drivers of why the people who struggle, why they struggle, are just psychological things. Very often they’re just chasing things they already have.

or just making silly mistakes, putting good money towards save a bad deal, things that people did in 2008. Yeah.

Mike Hambright (27:29)
Let’s be honest, some

entrepreneurs are addicted to chaos. Right?

Tom Krol (27:34)
yeah, absolutely. Brother, they define

their reality via anxiety. They purposely are always in anxious and anxiety situations and it has to do from their insecure, some bad relationship with their dad, something happened, but you and you really start to talk to them about why. I remember I had a client and I said, well, why? said, why, why are you doing like, why, why, why?

Mike Hambright (27:41)
Yeah.

Tom Krol (28:01)
I said, when you, then I said to him, said, when you think about what you’re, why you’re doing what you’re doing, he said to me, I’ll never forget this. said, Tom, know, you know what I want to do? I just want to drive through town in my pickup truck with my dad and my passenger side and just point out all these houses I own so he could be proud of me. And I’m like, brother, wait a second. Right. And it’s like, and then from there we were able to unwind the whole thing and just like put it back together. And you know, now he has this beautiful life. And I think that a lot of us are spending so much time chasing things we already have.

because of some silly, weird ego feeding, you know, or people pleasing, which means that you’re just lying all day. So you to really answer some of these core problems because money is usually, you know, once you hit a certain number of, you know, and it’s lower than most people think. That’s funny.

Mike Hambright (28:45)
Yeah, yeah, awesome. Tom, if folks

want to connect with you, they want to learn more, where can they go?

Tom Krol (28:50)
⁓ Tom Krol on Facebook, K-R-O-L, or coachinginc.com if you want to be a coach, which by the way, I’ll tell all your listeners, coaching real estate is way better, way better than investing in real estate. 10,000 times better. It’s more scalable, it’s more sellable. So if you have learned how to do something with tax deeds, tax certificates, short sales, foreclosures, subject to wholesaling, landlording, Airbnb, land flipping, land development, commercial, retail, whatever.

If you’ve learned how to do that and you’ve made your life better, you’ve made some money, head to coachinginc.com, fill out an application. have beginner coaches, intermediate coaches, the biggest coaches in the whole world. Mike Hambright is in there. It’s all the best coaches, all learning from each other, just in real estate. coaching is so much better. Then you do coaching and you do more deals, but you do bigger deals, bigger deals, right? Students are bringing, it’s beautiful. I love it.

Mike Hambright (29:48)
Thanks for joining me on

the show today.

Tom Krol (29:49)
Brother, thank you for having me. I’m jumping on our support call now, very exciting.

Mike Hambright (29:54)
Yeah, guys, make sure you pay attention to the nine rules of marketing, which are lots of great lessons. A lot of times these best lessons are very simple. And when you hear it, it’s really obvious. It kind of hits home like, yeah, why did I overcomplicate the hell out of this thing, right? So. ⁓

This is that season and you should do it every year, quite frankly. Just kind of get back to basics. Just ask your question. If I was to get back to the basics, what do I need to do? Well, it’s like you need to listen to this podcast and take a few notes, reach out to our boy, Tom Krol. So, ⁓ you guys for joining us today. Thanks so much, Tom. We’ll see you guys on the next show.