
Show Summary
In this conversation, Tyler Hennessee shares his unique journey from being a worship pastor to a full-time real estate investor. He discusses the art of leverage in real estate, particularly focusing on the benefits of using Home Equity Lines of Credit (HELOCs) to build wealth. Tyler emphasizes the importance of financial education, finding one’s niche in the real estate market, and overcoming doubts from others. He also addresses the challenges faced by the middle class and the need for innovative strategies to navigate the current real estate landscape.
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Investor Fuel Show Transcript:
Dylan Silver (00:00.812)
Hey folks, welcome back to the show. I’m your host Dylan Silver and today on the show I have Tyler Hennessee in Louisiana but by way of Fort Worth, Texas and Tyler teaches people the art of leverage and has been full time in real estate since July and has already acquired quite a number of properties on a personal note. Tyler, welcome to the show.
Tyler Hennessee (00:26.19)
Hey, thanks for having me, man. Happy to be here.
Dylan Silver (00:28.438)
Absolutely. I always like to talk about how people got into the real estate space because it’s not always straightforward or obvious.
Tyler Hennessee (00:37.55)
Absolutely, I mean everybody’s road is unique. Absolutely. I I grew up on a dad who’s a homebuilder in Houston, Texas. I was in Dallas, Fort Worth, so was about eight years old and was in KD Houston, Texas area if you know where that is. People know Houston, they don’t know KD necessarily, but it’s got a seven lane highway going through it now. So yeah, grew up there and my dad was a homebuilder. I was in real estate. I went to school for business management. You know, that was the road I was gonna take. I’m gonna take over his business is what I was thinking. And I mean, honestly,
My story is very unique because I did a 180. I ended up becoming a worship pastor for 20 years in the church world. I got to college and then got connected with a church in Houston and got called there. a music guy, but I always had this love for business and this love for buying real estate and watching my dad do it. I never left. Long story short, since I had a full-time W-2 job as a worship pastor, I wasn’t able to
Dylan Silver (01:14.734)
Alright.
Tyler Hennessee (01:37.376)
to do that. So my wife and I would just, we bought our first home in 2009 and we had fixed it up and then we were like, Hey, we’ll sell this in a couple of years. And we did that six different times. And so I was just kind of doing that on the side as I had a W2 job. And then really where things flipped for me was in 2020 COVID, right?
Everybody’s stuck at home. I’m like, gotta go back to some of my business roots. And so I really just did a deep dive on like you said, the intro, the art of leverage, becoming your own bank, try to try to get out of the rat race. And so that’s what I learned about first lean, he locks everyone. Everyone who hears the word he locked and then the real estate world, people know that I know that,
They normally are talking about a second lean heel lock where you have your mortgage and then a second lean heel lock to go maybe do a flip or somebody will use it for vacation or to go buy an RV. That’s not what I do. I get a first lean heel lock that takes over your mortgage completely. And I teach people about the difference in simple interest and the art of paying that balance down. And there’s a lot of stuff that goes with that, but that got me to a world of buying real estate. All that to say about my first real estate in 2022.
Dylan Silver (02:43.928)
So Tyler, interesting backstory. You’re the first person who has your backstory on the podcast here, and I’ve done quite a number of these last few weeks. Going from being a W to into the full-time real estate, of course, coming from a family where your dad was in the space helps, right? But it was quite literally a leap of faith.
When you went to go do that, did it feel that way or in your head were you like, I got this, this is gonna be a breeze?
Tyler Hennessee (03:14.486)
No, I’m not gonna lie to you. mean, I was scared to death. I was scared to death. you’re leaving everything you know and we get we find a false assurance or hope and the W-2, the insurance, the this false security, but it was the best decision I’ve ever made for sure.
Dylan Silver (03:29.89)
I think, know, for me personally in my journey, I was in the car business in San Antonio and decided I needed to make a change because I wanted more time for myself, was tired of working 12 hour days and felt like I didn’t have as much control over my life really as I wanted to. And so I got into the real estate space and there were bumps, believe me, along the way. There were many bumps along the way. For me as someone on the outside looking in,
I was started off as a a wholesaler. I just got my license real estate license actually last week but the the deals that I was doing initially I had no idea. And so I think a lot of people who are hearing these stories are thinking you know that seems like a lot of risk that seems like I don’t I don’t want to you know put myself behind in any way. So Tyler what were you doing to educate yourself when you were getting into the space full time.
Tyler Hennessee (04:28.13)
Yeah. So some of us, I’m trying to make it not choppy, but I actually got my real estate license when I was 22 in Texas, right before I went to be a full-time pastor. So it was just funny how everything comes full circle. And I want to stress, I love that job. felt called to that job, but I also felt like I, talked about this earlier, just I love connecting with people and learning. I’m a learner by nature. And so in 2020, I was stuck at home. And so I started researching ways to pay your home off faster. That’s all I really knew to do at that time. This is the biggest debt.
Dylan Silver (04:36.791)
Okay.
Tyler Hennessee (04:58.064)
I have and I’m like well when I pay that off I’ll do a cash out refi and I’ll get into flipping is what I thought It blew my brain up when I realized you could get a first clean. He’ll get rid of the mortgage completely Man, I had 27 years left to my mortgage in 2020 I met found this company this guy’s become a mentor and really good friend of mine now And they quoted me eight and a half years with their strategy and there’s so much stuff on the internet that everyone’s like you hear it Like this is a scam. There’s no way this is real all that stuff, but I’ll tell you from personal example 27 years
on my mortgage, joined their company, they quoted me eight and half years and I paid it off in three and a half years in full. A $400,000 balance almost on my home. And so I became a believer, drank the Kool-Aid and learned and in that I started acquiring properties in 22 and that’s kind of how I started scaling things.
Dylan Silver (05:45.846)
Okay, so let’s break this down here for people who might not be aware of this. What is a HELOC?
Tyler Hennessee (05:53.026)
Okay, home equity line of credit. There’s also home equity loans. So you said you were in New Jersey originally, is that right? Okay.
Dylan Silver (05:59.554)
New Jersey originally.
Tyler Hennessee (06:01.422)
If you’re in New Jersey, I was in Houston, Texas, people in California, a mortgage is a mortgage. And look this up, this is kind of a funny thing to drop on people, but mortgage means death pledge by its root meaning, literally means death pledge. Look it up. So mortgages are the same across the whole country. All 50 states, like if you get a mortgage, we’re gonna have very, very similar terms. A home equity line of credit is bank, is variable by every bank. So it’s a bank owned product. In other words, it can be, there can be promo rates as like
I mean, I had a rate at 0.99 for my first two years. So people talk about, well, a HELOC rate is variable and they’re always higher than a mortgage. I’m like, well, some, if you know the right banks and the right bankers, you can get what’s called a promo rate. And so it’s a home equity line of credit. 99 % of people who hear that think of a second lien, so they’re trying to take equity out of their home. If you have enough equity, like 10 to 20%, you can get a first lien HELOC and utilize it in a strategy to build your own, know, become your own bank.
So that’s how I’ve done it.
Dylan Silver (07:03.192)
So without giving away all the game, Tyler, for folks who are here in this thinking, wait a minute, so I got this home in the last 10 years, I’m starting to get some equity in it, there’s appreciation, or what I like to say is inflation is a real estate investor’s appreciation. You wanna be on the appreciation side of things, and that’s just reality, right? And I’m thinking about taking this HELOC out, and I have my mortgage, it’s not paid off, but I have this equity here.
Tyler Hennessee (07:05.826)
Yeah.
Dylan Silver (07:32.43)
How can I possibly put the equity ahead of or in line with my mortgage? That sounds crazy.
Tyler Hennessee (07:40.312)
Crazy, right? So people who do burs or people who do real estate, You always see people do a cash out refi. A lot of guys do that, To leverage their home or they’ll use part of their equity to go buy property. No, it’s not. So that’s called a cash out refi.
Dylan Silver (07:53.528)
And that is a HELOC, right? No. Okay.
Tyler Hennessee (07:59.502)
So a HELOC is different. mean, it’s a form of a refinance, but it’s a different product. I work with about, through a company I work with as well on the side, but I work with about 100 banks in the entire country. And that’s very, very little. I mean, we’re talking 50 states. There’s only about 100 banks that do it in the way that we prefer. so that’s, and again, we don’t have to get into the weeds fully on this, but I ask the client, if you’re a client, I’d be like, hey, do you have at least 10 to 20 % equity in your home? Yes or no?
score above 700 yes or no and are you cash flow positive each month on average? I’m not talking about when the HVAC breaks are you going on vacation but on a normal month are you cash flow positive? If you answer yes to all those questions then we can have a conversation to see if it’s worth it. But man I don’t mind telling you I mean I tell people all the time hey wait you’re not ready for this yet because you need to be in an advantageous state for this to work for you. But you basically can utilize your equity to start building your portfolio as a real estate agent. For me I like to have
at least 20 % equity because I really am conservative. I’m not gonna max out my HELOC and go buy these properties and put yourself in a place that could be dangerous. So there are ways to leverage it wisely and to make sure that you’re staying ahead and you’re literally doing the same thing a bank does. When a bank says, we’ll loan you this for X percent, they’re taking your money and making money off of it anyway. So we’re teaching you to do the same thing yourself. It’s makes an interesting arbitrage.
Dylan Silver (09:25.934)
This is such a interesting topic that I’ve never heard about until speaking with you here. And so in just hearing it, my mind is expanding. saying, wait a minute, this is allowed? We can do this? How did you find out about it?
Tyler Hennessee (09:38.862)
the end.
Dude, just so you rest easy, I’m not, this isn’t to sound cockier. I say this for total humility. I’ve sold this to mortgage loan officers who’ve done it for 30 years. They’re selling, mean, secondly, he locks in loans and when I get on the phone with them, they do the same thing. They’re like, wait, what? And so this is not why the advertiser RFU YouTube gurus out there that…
do it in different way. independent and intentionally independent. I got connected with Michael Lush. He was a lone originator for 20 years. A guy named Nelson Nash started … This has been going on since 1980 overseas. It was brought to America about 20 years ago. People realized you can utilize a HELOC in a different strategy. Again, when you see a sign, a billboard in Dallas that says HELOC, they’re advertising a second lead HELOC. It doesn’t even say it, but it is a second lead HELOC. I’m in the first
First thing, in the home I’m sitting in right now, I don’t have a mortgage, I’ve not had a mortgage in five years. And so it’s all about who you know, the relationships, finding a bank manager who offers with the terms that are going to be advantageous for you. And so if that answers your question, it’s all connecting with them,
Dylan Silver (10:51.128)
Yeah.
This is so incredible. We probably could have honestly a whole hour and a half to hour podcast just on the strategies involved here but I do want to touch on how you’ve scaled your business. Correct me if I’m wrong Tyler but before we hopped on you said you got started full time in July. That was what a year ago.
Tyler Hennessee (10:59.787)
Easy.
Tyler Hennessee (11:14.126)
Yeah, a little less than a year. I mean, so I’ve been, I started in 2020 with the heat lock of my own home just to prove a concept. was like, I’m not sharing this until I know it works. And then, you know, I’m rapidly paying my home down. And to talk about the fear side of like, I knew I grew up in it. I knew like to grow, you got to buy the property, but it took me till August of 22, till I purchased my first property, my first rental property. But I used some of the equity from my home, my primary home to do that without getting a cash out refi. I already had a heat
So I had access it’s liquid. That’s what’s so different If you if you go put an extra payment towards your mortgage They say thank you very much and you can’t touch it again to either sell the home or cash out refi with a heat lock It remains liquid that that is one of the key different differentiators. So I got it I got my I started I was still full-time w-2 but I got my first rental at August of 22 and you know, I made I make about 300 still that on that home I make about 350 bucks a month on that and paying a note on it and as I started doing
that I acquired a few more each year, a few more each year. And then I got my first multifamily in 23. And then July of last year, I was like, man, I just really feel uncalled like to build relationships outside of just the church walls. And so I took that leap of faith, like you said, in July 1st, I went in full time. But I’ve had my own Hennessee consulting firm in there part-time and now it’s all become a full-time gig.
Dylan Silver (12:39.726)
Tyler, how do you feel about when people are starting out, wherever they’re starting out in the real estate space, whether you’re a licensed agent, you you could be a loan originator, you could be wholesaler, you could be buying short term rentals, you could be midterm long term, right? How do you recommend people carve out their niche? And how did you do it?
Tyler Hennessee (13:03.278)
That’s a great question. mean, I really do. I don’t think there’s a one size fits all. And that’s why, and this isn’t not to be a plug. The reason I do what I do is because I consult with people the same way you’re even asking me questions is to figure out their passions, kind of their desires, their goals. we can, if you just like put everyone in a box, it’s not going to help them. And so it’s good to figure out, what are your, what are your passions? What are your goals? What are you trying? Are you trying to just get to a couple extra thousand dollars per month of cashflow? Are you trying to replace your income? Are you trying
to build for retirement. So I asked those things up front. For me, I had a goal of a number that I wanted to get to passively of cash flow. you know this, being in a real estate, I used to think, if I have 10 to 15 doors, I’m going be set. And that’s not the case at all. It’s a long game. most of my stuff is long-term rental. So instead of just doing fix and flips, is a great, great world. But for me, I put 20 % down on all my homes because that’s my
conservative way of making sure that I equity built in and to protect me when the economy dips like it even is right now. So I had to first step back and figure out what my goals were. And the front door for me was that HELOC becoming my own bank, building up passive cash flow, excuse me, liquidity from my HELOC. And I’ve used that to leverage to buy other properties.
Dylan Silver (14:27.886)
Do you regularly get people coming up to you or reaching out to you saying, you know, I’ve heard this thing that you’re doing. I don’t know how you’re doing it, but can you tell me about it?
Tyler Hennessee (14:36.192)
all the time. I got a few appointments today that will be even have good friends when I got it in 2020. Like bro, you’re looking to lose all your money. You’re an idiot. And all this stuff. When I paid my home off in full, all of them have become clients now and are asking me what I’ve been doing.
Dylan Silver (14:46.786)
Yeah.
Dylan Silver (14:52.876)
Okay, so this is actually an interesting real estate aside. So you had maybe some doubters in your circle and I’ve certainly dealt with that. How do we as people, how do we compassionately deal with that without ourselves maybe lowering our self-esteem because we have our dreams and our aspirations. But if we’re hearing from people whose opinion we trust,
Hey, this isn’t going to work out. Honestly, you’re maybe setting yourself up poorly. How did you cope with that?
Tyler Hennessee (15:25.174)
It’s hard. mean, that’s a great question. It’s very hard because it’s mentally taxing. And I don’t want to be somebody out there just trying to prove everybody wrong. But I’m a person who operates off of facts. And so that’s why the first year, like I said, year and a half, I didn’t tell anybody what I was doing. And I wasn’t like writing anything, but I was like, I’m going to do proof of concept to myself first. Now, once I believe something and I mean this respectfully, I don’t care who you are. don’t need to prove it to you. Like if you don’t believe it as the podcast host, that’s OK.
I’m like, hey bro, we can virtually shake hands and go on your way, but if you call me after this, I’d like to learn more about it. I love to help people. My heart and my passion is to help people. When you see people’s lives get better from it, those who want to learn, I’m happy to help. Those who think I don’t know what I’m talking about, it’s okay. I can’t make everybody happy and I can’t prove myself to anybody.
Dylan Silver (16:15.95)
Tyler, I’m in the same boat as far as helping people. really feel like, although I don’t have any deeds in my name and I feel like in order to be a real estate investor for real for real, I need to have some deeds in my name or an LLC that I own. I do feel like when I get to that point, the wealth building for myself personally or for my family, that’s great. But what I am honestly super excited about is helping middle class and lower middle class Americans.
get into the real estate game because it’s hard Tyler it is so hard right now like and I’m in it right and so I’m seeing it’s it’s it’s opening my eyes how much I feel like it’s only going to get harder I don’t think it’s going to get any easier I think it’s going to get harder and so these strategies that you’re talking about you know first position he lock or you know some people have a negative connotation of this but others you know no you know seller financing you know.
Tyler Hennessee (16:46.926)
Thanks.
Dylan Silver (17:12.14)
being able to assume someone’s mortgage, right? Or, you know, take it over subject to, right? These are creative ways which people can get into the real estate space. And yes, sometimes doesn’t always have some people are wary about it. But, you know, I’m I’m wary about taking out a traditional mortgage if I’m on a W-2 like that’s there’s risk in that.
Tyler Hennessee (17:14.414)
Thank
Tyler Hennessee (17:34.259)
Amen.
Dylan Silver (17:36.184)
Ha
Tyler Hennessee (17:37.038)
We just follow the mold. We can’t even help it. Most people just do what was told. What are my parents doing? What are their parents doing? They follow the mold. Do you look back? I don’t remember the exact year. It’s like 1910 or 1913. Loans used to be an open line of credit. Farmers would have just like a heat lock. It was an open line, so it was liquid. then the bank realized, do we think the bank is trying to benefit us or benefit themselves? Yeah. It’s not rocket science. They have a mortgage set up to benefit
Dylan Silver (18:01.73)
yourself.
Tyler Hennessee (18:06.992)
fit themselves and people get so fixated on why I got a 3.5 % I’m like go look at your TIP your total interest paid it’s probably 80 % that’s your interest rate. It’s on page four or five of all disclosures in the entire mortgage industry it’s TIP total interest paid that’s what people’s mortgage rate actually is.
Dylan Silver (18:26.03)
So when you say, and I hear you, but just to break it down here, when you say 80%, let’s just use simple figures. You bought a home somehow for $100,000. Over the course of the loan, 80%, you’re paying $80,000 in interest. So you’re actually paying $180,000 for the house. Wow.
Tyler Hennessee (18:41.398)
Absolutely. Now people get fixated on their small rate and there’s a hundred ways to skin this cat. Again, I don’t think this is for every person, but for real estate guys, this is a game changer. I mean, you literally become, you put yourself in the driver’s seat.
Dylan Silver (18:58.36)
What are the downsides to this?
Tyler Hennessee (19:00.598)
for people who don’t qualify. If someone said I only have 5 % equity or they have a low credit score or they’re not wise with their money. But those same downsides are worse with a mortgage than they are with a HELOC. If you can’t pay your mortgage, they take it from you. If you don’t pay your HELOC for a couple months, they don’t know. They just take the money out of the interest, I mean the equity that’s already in there. Really.
Dylan Silver (19:11.606)
Mmm, tell me about it.
Dylan Silver (19:21.122)
Really? Wow. Okay, hold on. So take the equity and then.
Tyler Hennessee (19:26.19)
I’ve had clients who’ve lost their jobs and literally come up to me crying and said, we would have lost our home if we were still on the mortgage, they were able to weather that storm for six months because they took money. mean, that’s a bad situation, but they kept their home, right? I mean, that’s way better than losing your home to the foreclosure.
Dylan Silver (19:30.346)
huh.
Dylan Silver (19:46.542)
Tyler I’m going to chat GPT he locks versus cash out refinances as soon as we get off here so that I can be more educated for the next conversation that we have. But where do you see this this scaling to. I you’re the first person who I’ve spoken to who has ever brought brought this to my attention. Where do you see this growing to.
Tyler Hennessee (19:56.919)
I can’t wait to see.
Tyler Hennessee (20:08.45)
Yeah, I so I don’t take credit for coming up with this again. I’m all about connecting with people. I’m a learner by nature. My clients, one thing I require is they have to be teachable. If they’re not teachable, they’re not allowed to be a client of mine. That’s not to be rude. We have to remain open to things. So I was taught this from a good friend, Michael Lush. He has a company with over 9,000 clients. am one of his clients and he’s coached me up where I do this on my own. So right now I started my Hennessee consulting firm. You can find it on hard makes you
you better.com or Hennessee consulting.com that goes the same place. But it’s all about your mindset, going against the grain, not just following the financial institutions, not just doing what was fed to us. I like to tell people the same, and this won’t resonate with everybody, but the same way homeopathic medicine is kind of fighting against traditional medicine. I feel like that’s what I’m doing to traditional finance. I’m trying to find different ways that put us in the driver’s seat that benefit the blue collar worker like you talked about.
about. So that’s everything that I’m doing. So I am currently even building out a team to help people with HELOCs, solo 401Ks, I help with alternative asset investment, different real estate trust deeds, I’m sure you’re familiar with that being over in Texas, and also it’s all about helping the individual get into the driver’s seat for themselves.
Dylan Silver (21:26.52)
We need more people like you, Tyler, because the lower middle class and the middle class right now is suffering, right? And so you see, I see a fork. I see personally, this is just my opinion, that we’re having like a moment in American history where you have wealth and then you have almost lower class and poverty and the middle class is diminishing because everyone is living check to check, credit cards maxed out, having to rob.
Peter to pay Paul just to get their bills not even balance but just you know stuff not taken away from them and these strategies which are really high level real estate strategies have for the most part been you know for decades maybe been around but they’ve been behind a wall where people can’t access them and so to me I look at it and I think we probably share this sentiment is I want to help as many people get
into real estate as humanly possible and I understand not everyone’s going to be receptive to it but those who are willing to listen I’m willing to help.
Tyler Hennessee (22:32.718)
Hey man, dude. You’re speaking my language. I agree completely. And I think it’s, it is the wealthy becoming wealthier. And I’m not hating, I’m not one of those people who hates against people who’ve actually helped further our country. But I believe the middle class is rooted, trapped in fear. They’re trapped in complacency. And all they know to do is like, all right, I guess I designate a little money to my 401k and put my head down and maybe I’ll retire when I’m 70. I’m like, man, there’s gotta be some better alternatives. And that’s, that’s what really drove my motivation to begin with.
to figure out and learn. And so I’ve been on different podcasts to learn from people, different people ask, you mentor me? you help me learn how you do it? And I’ve paid for a lot of stuff to learn because it’s worth it to help others in the long run and my own family.
Dylan Silver (23:17.198)
Do you have any coaching that you’re doing?
Tyler Hennessee (23:19.086)
Yeah, it’s Hennessee Consulting. I feel like I’m unique in the sense of I’m not your traditional guy who’s gonna have a one through 10 steps. I’m gonna sit with you just like this. I’m gonna get to know you. gonna ask you. I had a guy this morning at 8 a.m. and just said, hey, tell me what your goals are. What are you trying to do? I wanna make sure I’m catering it uniquely to the individual as opposed to trying to force my stuff onto them.
Dylan Silver (23:44.952)
Are there any areas in the country where this is not possible or more challenging or can you use this strategy pretty much in every state?
Tyler Hennessee (23:52.686)
Yeah, so it’s it’s that’s a great question. That what’s funny my home state where you’re at Texas is the hardest state to do it. Very, very quick story, but I also mortgage loan officer. I’ve been dealing with an Austin. told you I’m trying to move to San Marcos, Texas right now.
called him, he said, yeah, we don’t do HELOCs in Texas in first position, which is wrong. He said, we only do HELOCs up to a certain loan to value, which was wrong. He said, we don’t do promo rates, which is wrong. And he said, we always have closing costs, which is wrong. I just got two clients this month into a HELOC in Texas where I’m about to move. They paid zero in closing and they got 80 % loan to value on their home and I’m helping them leverage it to get into some investments. So that’s, that’s why I’m in business is because I found a niche
Dylan Silver (24:33.218)
Wow.
Tyler Hennessee (24:36.524)
But that’s the hardest state. don’t mind telling you, Texas is the hardest state to do it, for sure.
Dylan Silver (24:40.45)
What about states like California and New York?
Tyler Hennessee (24:42.764)
Simple, I have clients in both states, simple. If they qualify like we talked about.
Dylan Silver (24:45.782)
Interesting. So this is
Right. So this is almost you know you always hear about you Florida Texas being so favorable to real estate investors but this may be one instance speaking for Texas where where it’s actually maybe a little bit more challenging. So for folks who are in these coastal states where you have higher real estate prices higher barrier to entry just the cost of life in general can be seemingly twice as much. It’s actually.
simpler for them to do this. That’s great to hear.
Tyler Hennessee (25:21.07)
Yeah, we have tons of clients in Florida and the coast and I have quite a few in California. I mean, it really does determine its contingent on their specific situation. Like I said, I like to see it, they will tell you 10%, I like to 10 % equity, 20 % equity and I want to make sure that their cash flow positive on average and they have a good credit score. If they have those things, it can be extremely awesome for their, to get them started, especially in real estate.
Dylan Silver (25:47.15)
Tyler, I’m curious just to get your thoughts on the direction of the real estate industry as a whole. A lot of my podcast guests are fix and flippers, short-term rental, Airbnb. I had someone who does corporate housing for nurses. And we’re seeing a lot of this become remote and people doing things in new and unique ways such as yourself. What’s your general sentiment on the real estate space in the United States?
Where do you see things progressing?
Tyler Hennessee (26:17.518)
Yeah, I don’t claim to be a pro. I will say I’m with you on when people are saying, well, I’m going to wait till the economy gets back up. I try to buy real estate every year because that’s one more year of appreciation long term. That’s one more year of paying down debt. And that’s one more year closer to my personal goals. And I do think some of these big dogs are coming in and they’re taking over areas. And so if we don’t get in now, it’s going to be like you said earlier, alluded to, it’s going be way harder to get in later.
And so people who are waiting for rates to come down, I have a couple of my rental properties who are at six and a half and 7%, but they cashflow. So I don’t care. I have a tenant paying that rate for me and it benefits them, it benefits me. And so all that to say, think it’s, when’s the best time to buy? Now. It’s always now.
Dylan Silver (27:07.49)
Yeah, it’s like when people say when was the best time to buy Bitcoin, you know, five years ago, the ones the next best time right now, you know,
Tyler Hennessee (27:13.164)
Yes, exactly. that’s the philosophy in it. As long as you’re a good steward of what you have and you have someone who you trust or you know how to look at it yourself, I’m always looking to purchase.
Dylan Silver (27:27.352)
Tyler, where can folks go to get ahold of you?
Tyler Hennessee (27:29.814)
Yeah, thank you for asking. HennesseeConsulting.com, since that’s harder to spell sometimes, it’s Tennessee but with an H. But that’s all I have. Hardmakesyoubetter.com. That’s something I’ve said to my kids my whole life and that’s hopefully self-explanatory. But when people say, you know, this road is hard, I’m all about the hard things in life, what would make you better? So be a doer. So instead of just talking about being a real estate agent, waiting for the rates to come down, waiting for the perfect scenario, which will never happen, choose
hard way. Like hard will make you better and I’ve seen in my own life when I’ve chosen the hard path it’s shaped me, built my character, so that’s what it’s all about.
Dylan Silver (28:08.59)
Absolutely. And to our listeners, if you’re specifically on the coast, right, you can take advantage of this and actually it may be a simpler process than for someone myself who’s in Texas. Not to say that it’s not doable, but reach out, reach out to Tyler. And I think, you know, so many people can benefit from this. You don’t just have to be a real estate investor if you’re a homeowner, right? Anybody can benefit from this. And that’s really what I’m passionate about. And what Tyler’s passionate about is kind of the democratization.
of real estate and I think it’s tremendous what you’re doing there, Tyler. Tyler, thank you so much for coming on the show.
Tyler Hennessee (28:43.374)
Dylan, you’ve been awesome. I appreciate you for having me. was a lot of fun. All right.
Dylan Silver (28:46.36)
Absolutely. Thanks man.