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Show Summary
In this conversation, Derek Simkins shares his journey in real estate, emphasizing the importance of relationships, networking, and vulnerability in business. He discusses his experiences in the military, his transition to real estate, and the lessons learned along the way. Derek highlights the significance of taking action, building systems, and the role of partnerships in achieving success. He encourages others to reach out for help and emphasizes the power of being authentic and real in business interactions.
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Investor Fuel Show Transcript:
Derek Simkins (00:00)
Blowing off the hinges, like doors to opportunities were just popping up everywhere. Referrals. Hey, Derek, you should meet this guy. I think you guys could do some business. Vice versa. Hey, so and so talk to this guy. Like that just bolstered my network. Following those guidelines had bolstered my network through up until now and then, and then some, right? It was, it’s just, it’s amazing to see when you drop all the crap, if you will.Quentin Edmonds (02:00)
Hello everyone. Welcome to the Real Estate Pros podcast. I am your host Q Edmonds. Super excited to be here today. I have another fantastic guest and I love that his mindset is to be heavy on the relationships. And I love that. And through his network, he like to connect people together and help people get started. He’s like me. If y’all know me, I always say one of my jobs isconnect people, to connect people with other people. And so we share that in common. And so I’m excited to pick his brain, excited to see things through his lens. And so I’m excited to introduce you all to Mr. Derek Simkins Mr. Derek, how you doing today, sir?
Derek Simkins (02:42)
I’m doing great, Q. Thank you so much. Thank you for having me on the podcast.Quentin Edmonds (02:46)
Absolutely. Now, they’re getting the last thing right. Is it Simkins or I apologize. Once I took a second look, I was like, you know what? I think that’s Simkins. So my apologies. Mr. Simkins, want to put some respect on your name. My apologies, sir. Thank you. Appreciate you, man. So listen, let’s dive in. I would love for you to tell the people what your main focus is these days. ⁓ Give them a little bit of an origin story of how you got started, how you got kind of to where you are now. We love origin stories.Derek Simkins (02:49)
Simkins.Quentin Edmonds (03:13)
And then man, tell us what part of the world you’re in. ⁓ so Mr. Derek, sir, you have the floor.Derek Simkins (03:17)
Thank you, Q. So ⁓ I guess going back to 11 years in the military, Air Force, I was a flight mechanic. And about halfway through that 11 years, I started, what is this passive income stuff you’re talking about? So I got into like stocks and crypto and that was, and we all know that’s kind of crazy. then ⁓ real estate kind of just like justbecame a fascination of mine. So I was still in the military. I like, how do I get started? How do I get started? How do I get started? Right? The biggest question. Luckily, I had access to the VA loan. So I did some house hacking. If you’re familiar with that, you live in one side, you rent out the other side or the other units. So I did that with the single family house that I got. I got a duplex and I got a triplex all with my VA entitlement through the military and
You got to live there for a little bit and then you move. live there for move. So I had three properties under my belt by the time I got to the military. ⁓ Had to secure a fourth one to move to Asheville, North Carolina, where I am right now. ⁓ My parents had moved here about five years ago, so I was like, I need to be close to family. I’m a huge family man. So I get here.
And we’re like, we don’t have a house and we’re exiting our jobs. So the banks don’t want to give us any money. So I locked up a property under a hybrid, which is the ⁓ sub two and seller financing creative finance way. And man, that lit me up. I was like, I want to be a wholesaler. I want to close anybody and everybody. want in 10 minutes, like all the great guys, all the rock stars of the wholesaling space. I want to be that guy. Six months into wholesaling. I said, this is, this is terrible.
This is not, I might be, I might be going fishing the next week with the guy and I haven’t even asked him if he wants to his house. Like, so I, I looked inside. I looked inside. said, Derek, what do you want to do? I was like, gee, Derek spends a whole lot of time doing this with his mouth. You know, he just yapping, yapping. He loves to connect. He loves to get to know people. He loves to talk. He loves to build that relationship. So.
Quentin Edmonds (04:59)
See you.Derek Simkins (06:10)
I cut the wholesaling out. cut any like bad partners that I had that were kind of dragging me down as well. I said, let’s be a connector. Let’s connect people. Let’s get people in the right rooms with the right people. I joined sub two, paste Morbys, a paid real estate group. And I was off to the races through connecting through a ton of networking. I finally started to land in positions where there was some initial.right out the gate traction. And that just felt so good because there was so much resistance wholesaling. And once I figured it out and kind of looked inward, like, ⁓ man, this is, this is golden. And so I just ran with
Quentin Edmonds (06:46)
Man, love it. Thank you for walking us up to it. I love it, man. I love how you just figured things out. And I often say, know, destiny has no wasted moments. Like as we go through life, know, destiny provide just different opportunities for us. And it’s not wasted. It helps us then. And we may not even see it as helping. But when we look back, we like, dad, you know, that really fortified who I was now. You know what I mean? And so I would love to know, man, like whatwhat did these past situations or past, like just the past you, what did it re fortify or even fortify like the person who you are now? Like, do you give language to it? Do you find yourself being more disciplined or being more motivated? Like what kind of things are the built in you?
Derek Simkins (07:31)
So I had the hindsight of like some old owning property. Well, it took me three years to actually do the house hacking. So I realized that like this, all this paralysis and all this planning, like just take action. And you always hear people saying it all the time, easier said than done. So I was like, man, I really just need to take action. And so that taught me to just move, just pedal.with whatever you’re interested in, just do it. It also taught me I didn’t like owning real estate. I was not a fan of owning single family or one to four units. Even with a property manager, was like, there was all this wacky stuff like showing up. And I was like, man, how are you ever supposed to cashflow? I bought them, I was new, so I bought them not the greatest deals. So I was like cashflow neutral. And so,
Maybe if I get some properties, you know, for tax benefits and whatnot, ⁓ maybe I’ll get back into properties. But it taught me that like, hey, maybe I should shoot for maybe like larger multifamily with an operator. So it’s got my gears turning about like what else I can do to offset taxes and have some cash flow. ⁓ Another thing is obviously the wholesaling, not a waste at all, just wasn’t a good fit for me. I think wholesaling is a
little to no entry for anybody who wants to get involved in real estate. I think it’s a great way to get started. And if you can hack it, that’s great. And if it’s your thing, that’s awesome. But it’s very low entry. You don’t have to, you don’t have to spend a lot to get into it. And that taught me a lot of the basics of understanding a good deal versus a bad deal. It also taught me partnerships because I got into a partnership that I wasn’t very fond of. And, ⁓ you know, they started leeching on me a little bit and I
you know, asking me to pedal, but they weren’t holding up their end of the bargain. So vetting your partnerships, very important. ⁓ and then connecting like just that network being your net worth, that is just too true to ignore. if anyone says that’s not the case, then they’re not doing very well. Like somewhere in their business, they’re not doing well because you really do need to lean on your network. And so
That’s just my number one focus now is networking and protecting others capital. That’s really my biggest two main focuses.
Quentin Edmonds (09:54)
I love it, man. So tell me this. What is the next real goal for you? What are you looking to solve a scale next? I know protecting the capital, but what are you looking to scale, man? What are you looking to solve, bro?Derek Simkins (10:40)
So I have a couple different things that I do from referrals to connecting to private money lending, hard money lending with a fund that I’m with ⁓ from Philly. ⁓ So we do a little bit of everything, but my main goal is to help people get started.And so I always, like I said, I always ask myself that question for since I got interested in real estate and then like three years of just asking myself, how do I get started? And so I don’t want anyone else to go through that if I can help it. So anyone who gets introduced to me, I’m going to try my darndest to get them started in real estate doing maybe it’s not what they ultimately want to do at the end of the day, but it’s a good way to take action. Like I said before.
take action, get your foot in the door, start learning some things, and then pivot and get into that spot that feels really right, right? But there’s so many different things that people aren’t telling each other. And I feel like for the longest time, like in the 20th century and even before that, ⁓ there’s so many people like, bow guarding pivotal, just juicy information about how to succeed.
And I just, don’t want to gatekeep any of that stuff from anybody. I have figured out through networking a few different solid, solid ways for people to get started in real estate. And I just want to share that with people.
Quentin Edmonds (12:05)
Yeah, I love it, man. So listen, when you and I started talking, you were heavy on relationships. That’s literally the two words I wrote down first when you and I started talking, heavy relationships. Right. ⁓ Exactly. So, man, you’ve been talking about it and I want to continue to drive the point home about relationships. So, man, tell people how beneficial it is to build healthy relationships.within this real estate space.
Derek Simkins (12:34)
man, like I was telling you, like just being in the military for so long, working with people that I did not like and I was forced to work with. I told myself as soon as I got out and started my own business, like actually working on my own business, said, I’m going to work with people that I like, that I enjoy, that I resonate with, that I vibe with. ⁓ And that really set me putting my focus on the people who mattered in my business. And then justthe referrals and the, friend, do this, telling people what you do, not trying to put on this facade of like, okay, I’m going to join this real estate community. And I had a little bit of this too. I joined the real estate community and ⁓ I just like, I needed to own it right out of the gate. I needed to be an expert right out of the gate. I wasn’t very vulnerable with people. And I think that shut me out. So when I switched
to focusing on the relationship when I looked inward, like I was telling you before. ⁓ I also said, I’m not going to put on any facade. I’m going to be 100 % real. I’m going to tell people exactly where I am in my journey. And that’s okay. If I’m in the very beginning of my journey, that’s okay. I’m not where the other guy’s at and that’s totally fine. And so being real with people, focusing on people that I like, the doors just started
Quentin Edmonds (13:34)
.Mm.
Derek Simkins (13:57)
Blowing off the hinges, like doors to opportunities were just popping up everywhere. Referrals. Hey, Derek, you should meet this guy. I think you guys could do some business. Vice versa. Hey, so and so talk to this guy. Like that just bolstered my network. Following those guidelines had bolstered my network through up until now and then, and then some, right? It was, it’s just, it’s amazing to see when you drop all the crap, if you will.how much things start to show themselves and the good things start to show, the bad ones start to show themselves and you’re like, I’m gonna stay away from that guy. ⁓ Yeah, it’s just being real with yourself and telling people exactly where you are in your journey and what you need help with.
Quentin Edmonds (14:43)
Yeah, yeah. Now I tell people, you know, vulnerability is a powerful weapon to have in your hand. It’s a powerful draw to people. You can be vulnerable with people, be authentic with people, them where you are. It drops the pretense. It stopped the pretending is like, OK, let’s have a real conversation. You there too? I ain’t want to tell nobody. I’m kind of there too. And so, yeah, so you know, so bad. Yeah, yeah, yeah.Derek Simkins (15:52)
to not have to put up this smoke screen of like, ⁓ I’m an expert already. Like real estate pros, like, yeah, I’m a pro. You know, I got things that gotta work. know, you know, I, know, some people are pros, some people are getting there, but like wherever you are in your journey, just be so real with people and tell them exactly what you need. And those things start to show themselves. I feel like people…don’t offer help to the people who need the help because you’re not being the squeaky wheel. You’re not telling them, need help. So they think that other person thinks you have it all figured out. And so you, you don’t get the help. don’t get those introductions. You don’t get those, those pointers throughout your journey. If you’re just putting up this wall, you know,
Quentin Edmonds (16:29)
Yeah.Absolutely. Now, I definitely hear what you’re saying. I definitely agree and I thank you for for highlighting it, man. I, man, I just, you know, think vulnerability is such a powerful tool and I’m so glad that you’re giving us the gift of your vulnerability so that people can connect and people can really get to this to the real of it all. And so I appreciate you, ⁓ Derek, is there any topic that we haven’t touched on yet that you want to touch on?
⁓ Or is there any kind of word of inspiration, motivation, or education you feel like you want to give people that’s listening? If it is, I would love to hear.
Derek Simkins (17:17)
Sure. I would love to share with you, like we’re, you know, we’ve been going over this relationship piece and, I’ve really hammered that home because that really is number one in my business. ⁓ But also just what I’m actually doing for people. ⁓ It’s not perfect. And I don’t think, like I said, it’s not…People who want to get started, maybe they’re not going to do the thing they ultimately would like to do, like maybe some bigger projects, things that you need some serious experience for, but they’re stepping, stepping stones. Yeah. So if anybody is looking to get started, anybody, anybody, it doesn’t matter if your credit score is 450, it doesn’t matter. Doesn’t matter. Doesn’t matter. Reach out. I’ll hear your story. I’ll hear you out. I’ll sit down. I’ll take notes. I’ll take a look.
And then I’ll give you my two cents. Hey, through all the network that I’ve had, the resources that I have, the very few, but very powerful tools that I have in my tool belt. I am going to do my darndest to help you get started in real estate or just business in general. Right. And I I’ve fallen on my face and I’ve, I’ve talked to other people who have fallen on their faces and learned from their mistakes. And I love to pass that stuff on too. So the biggest, biggest thing that I think any of the listeners out there should take.
is if you’re looking to get started, if you’re feeling that paralysis, just reach out, let’s have a conversation. I can’t make you take action, but I can probably make you feel confident enough in yourself, the resources that you now have in your tool bell after meeting me, to where you may feel a little bit more comfortable taking action.
Quentin Edmonds (18:51)
Mm.Yeah, there I got. Appreciate you, sir. Listen, if someone wanted to reach out to you, connect with you, learn more about what you’re doing, how can they get in contact with you, sir?
Derek Simkins (19:10)
If you can see my name, it’s Derek Simkins. ⁓ Derek the short way, no need for extra letters. You’ll find me on Facebook, Instagram. ⁓ I’m getting more into LinkedIn and stuff. You can add me just about anywhere. I’d love to just…I know I’m probably putting myself into a predicament, but I love to give out my number on these just so that anybody who’s listening, maybe you’re driving, pull over, take down the number. It’s 828-660-0447. And you can just text me, you can call me.
Derek, I need help. I need to get started. I’m very relationship focused. So give me a howdy duty before you get into the business. I’ve had people reach out to me. I need money. Who you are. So please tell me a little bit about yourself. Please open up. Be vulnerable with me. Peel back the layers. Tell me what you’re having trouble with. And let’s figure it out.
Quentin Edmonds (20:01)
Right, right, right!Man, I gotta say, so appreciate you, man. I, ⁓ I appreciate you saying I really do. I appreciate your time. Cause of course, you know, time is our precious commodity. Right? So thank you for your time. Thank you for your story, man. Thank you for your gift of vulnerability. That’s what I say a lot. Thank you for your gift of vulnerability is a superpower. And thank you for bringing it here. And man, thank you for your perspective. Thank you for the way you think your mindset.
I truly appreciate you coming on and bringing the net to the platform, brother.
Derek Simkins (20:44)
Thank you so much, Q. Honestly, this is probably one of the better podcasts I’ve been on. ⁓ It’s just you, you ask the right questions. You, you pull the, the energy like into the atmosphere that we’re working on. So I just appreciate the invite. I appreciate you reaching out. I appreciate you recognizing where I am in my journey as much as I don’t really share too much on social media yet. still follow me. So for that, I’m extremely.Thank you.
Quentin Edmonds (21:14)
Absolutely. Well, thank you, man. And last thing I’ll say, Derek, I need some money. No, man, I’m joking. All of this was a setup. I need some money, Derek. No, I’m joking. You said all those nice things. need some money. Let’s talk. Listen, listen. Y’all heard Mr. Derek. You got the value. Definitely check him out. Give him a call.Derek Simkins (21:21)
No.Thank
Quentin Edmonds (21:42)
everybody all at once. Only service inquiries, right? So, but definitely connect with them, but definitely make sure you are subscribed here because I promise you we’re going to continue to bring up fantastic, amazing people just like Mr. Derek. So sir, thank you again and everyone else. Listen, you have a great day.
