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Anyone can make money with Terry Thayer

Real estate investor, educator, and mentor Terry Thayer is in the show today to give us some golden nuggets to live by. In 1997, he opened his first real estate business and from then on Terry learned lifelong lessons that can’t be traded with money. We got a chance to learn the life lessons that he’s learned throughout the years as he ponders some advice on how we can work less and still get paid more. Terry lights up the room and also shares with us the value of time, freedom, and living out of equity. He’s passionate about helping others scale their businesses and making things right. Start your day right by clicking on that play button!

[3:26] Terry’s background story

[8:04] His perspective on time freedom

[9:28] Advice on working less and making more

[10:26] Success is 80% money and 20% skill

[13:09] The longer you wait, the longer it takes to get to your goals

[17:45] The difference between paying taxes as an employee as opposed to the entrepreneur

[23:23] You love what you do until you realize that it’s getting in the way between you and your goals and your dreams and your freedom

[25:33] We live in a society where we are conditioned from birth on what to do

[26:47] Terry talks about how he builds his systems

[28:30] Restructure your business on how you’re currently working

[39:21] Stay in your lane, let each other do each other’s parts and hold each other accountable.

[41:49] Figure out what you’re good at and learn to outsource people

 

Resources:

Follow Terry on Instagram - https://instagram.com/terrythayerii?utm_medium=copy_link" target="_blank" rel="noopener">www.badasseryfactory.com

Join the TAB Lead Machine- https://terry-thayer.mykajabi.com/cold-caller-survival-guide" target="_blank" rel="noopener">www.badasseryfactory.com

Please visit: www.badasseryfactory.com

For Self Development ONLY, join our Private Group:https://www.facebook.com/groups/197105274405728/" target="_blank" rel="noopener">https://www.facebook.com/groups/197105274405728/

 

Transcript

 

Andre Popa: Who's a badass? That's right. You're a badass. Welcome everyone to the weekly show where we will go deep into the human dynamic and what makes us all extremely special. We're breaking the stereotypical mold of the badass on a Harley with tattoos. We're re-branding the badass with any human being that's happy and free. One can have all the money, houses, the Harleys and tattoos, Lamborghinis, yet if they're not happy and free, what's the point? Let's push some buttons and start some shit. Welcome to the weekly show, Who's A Badass.

 

So for those of you that have never met this individual here, we met about, I'm going to say, about four years ago, give or take, through a business event here in Southern California. Since then, we've had the blessing of sharing a lot of tequila together. We both get funny when we drink, and we've traveled. We've done events together. I've spoken on his stage. We've done lives here from my backyard, at the fire pit. We've just done some really cool things together and we've become phenomenal friends. Great family man. His kids are amazing. There's a Mr. Hollywood there that he's like, "Yo, man! It's me!" How old is he now? 

 

Terry Thayer: He is 11, going to be 12 soon. The kid's got muscles now. He's starting to look like a man. 

Andre Popa: Dude, but he's like surpassing you on height. He's just like, whoop, he stretched out. 

Terry Thayer: Two or three more days, we're almost there. 

 

Andre Popa: Get him to the weekend, this weekend. So with all that said, a phenomenal, phenomenal human being at the heart. And as you guys know me and what I love to preach, it's what's here first. All the other stuff is a representation of what's in here. So this mofo is just a phenomenal, phenomenal heart, great family man. But when it comes to entrepreneurship, he's literally one of the most driven people that I've ever met. He's got blinders on, he knows what he wants, he has goals, he has plans and he attacks them every fucking day. So with that said, welcome to the Who's A Badass Show, the one and only Mr. Terry Thayer! 

 

Terry Thayer: I feel like I've made it. I finally made it on this show. I finally got invited. 

Andre Popa: Checkmark. 

 

Terry Thayer: We're there! We're there! 

 

Andre Popa: Hey, listen, people want to be on here, not everybody gets accepted. 

Terry Thayer: Hey, it took you a long time. I kept putting in my application, kept talking to some people. I think it was who we know. 

 

Andre Popa: Reject! Reject! Reject! 

 

Terry Thayer: I didn't know you were talking about my application, not particularly talking about me. 

Andre Popa: Same thing. 

 

Terry Thayer: I got you, I got you. So I thought you were talking about Anatole. You don't know Anatole? 

 

Andre Popa: We never met. 

 

Terry Thayer: That's funny. 

 

Andre Popa: I know he's a foodie guy. 

 

Terry Thayer: Yes, he's a foodie guy, a good guy, good guy. 

 

Andre Popa: So my goal is to give the audience value. I want them to always take something from the show where it can change their life. Before we get into the hows and what you're doing today, the hows and how do you do it, let's go back and just tell everybody your story for a minute, just where you come from, the struggles, meeting Kristi, all of that up until today, and then we'll go into what's happening today. 

 

Terry Thayer: So the cliff notes of it, right? 

 

Andre Popa: Yeah, bullet points. 

 

Terry Thayer: All right, bullet points. So I grew up in Rochester, New York as a carpenter, moved down to North Carolina where I currently am right now 27 years ago in 1995. Again, as a carpenter and then got involved in my father's business. He grew a giant contracting business, was running about 250 guys under me at one point in time in my early 20s, got to the point where I was like, "Look, either make me a partner, pay me a whole lot more money or I'm out." And I ended up leaving. I ended up going my own way. And I'm trying to figure out – because I was like this crazy entrepreneur. I wasn't filling my cup. I wasn't feeding my soul enough doing just that. It's like the movie Groundhog Day. I woke up every single day, it was the same thing over and over. I always knew that there was more out there, even in my early 20s. 

 

So I ended up leaving in 2000. And for a couple of years, from 2000 to 2002, I was trying to figure out what I wanted to do. I started renovating kitchens, bathrooms. And then in 2002, I went off and got my GC license because that's what I thought you needed to do in order to flip houses and be an investor of some sort. So when I got my GC license, I bought a house – basically, not that I bought it to make it a rental, cut the roof off to make it a four-bedroom, four-bathroom house. 

 

Andre Popa: Nice. 

 

Terry Thayer: And that's where everything started for my journey, really, really started. But I would say, the first ten years was a lot of pain. We're doing things the hard way, the wrong way, just doing only what I knew. I went through 2008. Prior to 2008, going into a bank, I felt like I was a bank robber. I didn't think that then. But now, today, looking back, I'm like, "It was so easy. You walk into a bank and literally sign some papers." I don't even think any bank ever had my Social Security number. And they would just give me money so I can do these builds and such. 

 

I went through 2008, all those heartaches and such. Prior to 2008, Kristi and I met. So we've been together now, 16 years. We're coming up a few weeks from our 10th wedding anniversary. A kid with the previous, we have basically two together that we've raised together, one just turned 18 and one's about to turn 12. And then I did things hard for about the first ten years. That's where I actually met Tony Anatole. 

 

So there was this whole thing about – remember I said I didn't know how to get money, right? Well, this whole thing is on the radio, like we're not on flip houses, not using any of your own money and all of this, forget about paying, all this stuff. I'm like, "Hold on a minute. If I get back into business, then I was doing high-end renovations for a while. And then I heard that whole thing, I went to this basically two-hour meeting on what they're talking about, and that's where I met Tony. He was a speaker for that. 

 

Andre Popa: Oh, fine. 

 

Terry Thayer: Yeah. So I met him actually right down the road from here, went into this whole three-day seminar, joined this program, and that's when I got started. It was back in 2012. So 2012 to 2022, the next ten years in my real estate, I just feel like it's just been leaps and bounds of being able to just get to where I want to go so much faster because of education, mentorship, masterminds, all that stuff, events. That's where I met you, actually, at a Mastermind. 

 

Andre Popa: Mastermind. Yeah, Mastermind, self-development, how to make money. Yeah, absolutely. So in your journey right now, you're talking and you went through the struggles and you're talking about some of the pains, you did some things. You did the best you could but you hit some walls and some shit was hard. So I guess the first question I have for you is—because you mentioned the last ten years that you kept going, kept going, kept going—why didn't you settle for – because, with your knowledge and whatever, you could have gotten a J-O-B, or just settled at a certain business level, made $250,000 a year and whatever, cruise through life, but you said, "Fuck that," why? 

 

Terry Thayer: I was in my early 20s making almost $500,000 a year between working for my father. I ended up getting my own crew, I had 60 guys traveling up and down the East Coast. I was basically a contractor for his company as well as running his company. Man! I just felt like there was more. I just felt like there was a bigger purpose out there. It just didn't. You know what I'm saying? 

 

Andre Popa: Mm-mm. 

 

Terry Thayer: It's crazy as it sounds, running 250 guys and traveling like crazy, it just wasn't enough. You know what I'm saying? And It's not about the money. I didn't know what it was because that was a long time ago. That's 27 years ago, 25 years but I didn't know what it was, but I knew that there was something else. And I guess today, now, looking back, we figured it out, and I guess it comes back to freedom. 

 

Andre Popa: Got it. So running 250 guys, making $500,000 a year, that was not the freedom you wanted. It gave you money, but it wasn't time freedom. 

 

Terry Thayer: Right. Well, I'll tell you what went through my head when I was in that position. So even back then, I was a contractor, we're doing siding, windows, roofing, gutters, all that stuff, mostly a lot of apartment complexes, for houses as well. And I felt like I was low on the totem pole. I felt like I was just like this real low on the food chain. And I wanted to be the guy that's always at the top of the food chain. I was the builder. You know what I'm saying? So I wanted to be that guy at that time. I didn't know what that meant. I just felt like that's what it was. So I was in my early 20s, but that's all that I know. 

 

Andre Popa: But still very driven. So today, do you feel you have time freedom? Do you think you've landed? 

 

Terry Thayer: My work is not done. My work is not done, but I work a fraction of what I used to work. I work with my head versus my hands. I strategize. I have a whole team, nearly over 6,000 square feet of office space right now that's on it. I got people all over the world that work for us – 

 

Andre Popa: Sure. 

 

Terry Thayer: – work with us. But I work a whole lot less and I make a whole lot more. So it gives me the freedom. I mean, you remember what happened. 

 

Andre Popa: Oh, yeah. 

 

Terry Thayer: In July of 2020—I'm trying to think back—let's see, in July of 2020, I hosted a Mastermind in Cabo San Lucas, Mexico. I remember it was chaos here in the US. You don't remember anything about that, but it was chaos here. And I got down to this Mastermind in Cabo and it seemed like my life was back to normal. No one was talking about all the nonsense going on. And while I'm down there, I said to my wife, "I don't want to go back." So she's like, "Me either." She's like, "I'll go back, get the kids and the dog. You go find us a house and we live there for six months." So it gives us the freedom to do what we want when we want, where we want, but my work is not done. 

 

Andre Popa: Do you feel, as an entrepreneur, what you did and what you're doing? Can anybody do it? 

 

Terry Thayer: Absolutely. Look, one thing I tell people all the time: success is 80 percent mindset, 20 percent skill. Just do it. Just get out there and start doing it, you'll figure the rest out. And I'll tell you what, you can figure out the majority of it—at least the basics—right on YouTube for free. 

 

Andre Popa: That's right. 

 

Terry Thayer: Google it. There are the answers. And then once you start getting some momentum, there are some things going, then you hire mentors to take yourself to the next level. I spent the first ten years I didn't have YouTube, but for all the resources, the next ten years, mentorship, and now leaps and bounds. 

 

Andre Popa: That's a great point—mentorship. One thing that I tell people, one thing I preach is get mentorship as soon as you possibly can afford it, even if you have to barter with a coach, barter with a mentor, like, "Yeah, I'll fix your fucking siding because you're in siding. I'll change your windows." So let me ask you a question. Back when you were 27, 28, 29, if you would have got a mentor, coach, somebody to help, ah, bingo? 

 

Terry Thayer: I can't even imagine what life would be like today. Back then I had no idea. I never heard of a mentor. But my first ever of even hearing about mentorship or education outside of going to college was in 2012 back when I met Tony. I had no idea. I thought if you want to learn something, you go to school. The resources available today are insane. 

 

Andre Popa: Insane. 

 

Terry Thayer: Everybody is just putting information out there. It's all over the internet. The internet costs nothing – I mean, unless you mean shit, you can get it for free with Wi-Fi. Go somewhere and get their Wi-Fi. You don't even need to pay for it. 

 

Andre Popa: Yeah, go to the fucking library. I mean, it's free. Log in. 

 

Terry Thayer: Exactly. Just your time, your motivation, your efforts. 

 

Andre Popa: Yeah, that's right. So today more than ever, people are confused, scared. Obviously, a lot of shit happening in the world. You brought up what's happening in America, the shutdowns, the masks, all this chaos, people getting slapped on stages. I mean, weird shit! We're laughing about this now because before we went live, we had a moment. He got me laughing so hard. I have gone to get a tissue because I was tearing. 

 

Anyway, with all this chaos, a lot of people out there today are scared. Should I start a business? Should I scale my business? Should I put money into advertising? Should I go to events? Should I join Mastermind? Should I get a coach? Should I? Should I? What's your response to that? Is this the right time, or should people just wait a year and see what happens? 

 

Terry Thayer: No, the right time was yesterday, last week, two months ago, two years ago, five years ago. The longer you wait, the longer it's going to take you to get to your goals. I just say people on my mentorship that literally still have a W-2, and I broke it down. Actually, I was sitting right here, they were sitting in the seats right in front of me about—I don't know—three, four weeks ago. And I said, "How much do you make in a year?" And he said – whatever it was. It was decent J-O-B money. Maybe it costs $200,000. Let's call it $200,000. So I'm like, "Okay. Well, that job is costing you money." And they’re like, "What do you mean? The whole dog took everything? Whole? What do you mean?" 

 

And so I started breaking down numbers. I'm like, "Look, if you follow the system, it's numbers. It happens over and over and over every time. Every time I teach someone this, they implement it, this is what happens. This is the result." So I started breaking it down. In the end, he's like, "This has got to go." He's like, "Oh, what about the insurance? What about this? What about that?" And I'm like, "Yeah, what about it?" I'm like, "How much does insurance cost?" He was like, "I got medical conditions, all this." I was like, "Okay. Well, factor in the medical conditions. What do you think it'll cost you?" "Thirty-five thousand a year." I said, "Great. That's one deal, one deal. That's two weeks of your time." 

 

Andre Popa: So I would love for you to break that down because people watching, listening, reading this later, I want them to understand what you just did. So a lot of people – because I said, "Hey, when you were 27, making $250,000 a year, why wasn't that enough?" So in the same fashion, break down why if somebody is making a good salary, J-O-B money, why is that costing them money? Literally, break it down. I want people to say, "Holy shit!" 

 

Terry Thayer: So here is a conversation with him. His name is Brad—I don't know if he's listening, he's on or not—but Brad was roughly making $200,000. I can't remember the exact number. Maybe it was a little more, a little less—I don't know—$200,000, and he's in my mentorship for real estate. The main thing that we're starting off with was market acquisitions. So here's what the numbers look like. I'm like, "Okay. I've got a system. It's extremely predictable. And it basically is about a $5,000 a month investment at max. There are ways of even cutting that down." 

 

But I'm like, "Look, he has the means to put the $5,000 in." I'm like, "Put the $5,000 in, follow the system. Maybe it's going to take you two, three months to get consistent. But after that two, three months' time, it should bring you about $100,000 a month and with $80,000 minimum, $80,000 a month consistently minimum." 

 

So let's do the math. I've got my calculator here because I'm not that quick at math. You got 80 grand times 12 months, that's almost $1,000,000—$960,000. Let's just go crazy and say that it was very frivolous, not efficient at all in spending, got a little wild and crazy. And on top of it, they added their monthly expenses for living, for health insurance, all that stuff. Let's just say, we're not even paying attention to anything, that's how inefficient we're being with our spending. Let's just say it costs us $40,000. Forty thousand times 12 is $480,000. That difference is what? Four hundred eighty thousand. Then you take out his $200,000 salary, it's $280,000. So it cost him $280,000 to have that $200,000 job. Hold on, there's more. 

 

Andre Popa: It gets better. 

 

Terry Thayer: So when somebody has a $200,000 job, how much do you think they pay in taxes? Not in California. 

 

Andre Popa: I don't know. Some 30 percent out there? 

 

Terry Thayer: Yeah. So they're paying some taxes, right? 

 

Andre Popa: Oh, yeah, 75 grand—poof! 

  Terry Thayer: Guess how much I pay for taxes every year? 

 

Andre Popa: Zero. 

 

Terry Thayer: Zero. Why? Because I buy real estate. I buy assets because I know how to do this. I buy real estate and then I have depreciation. So I have assets with depreciation that makes it so I don't buy. So at the end of the day, then you add in that money. So I'm saying, worst-, worst-, worst-case scenario that you only stay at that $80,000 a month, consistent number a month that you frivolously spend, you're not paying attention to your spending, you're not being efficient in your $40,000. So you don't even add the assets in there, the depreciation. I mean, it's cost you money to keep a job. 

 

Andre Popa: To keep a job. So as a J-O-B W-2 employee, talk about the difference between when you pay taxes as opposed to the entrepreneur, an entrepreneur that knows what he's doing? 

 

Terry Thayer: What do you mean when you pay taxes? 

 

Andre Popa: Well, as an employee, do you pay taxes first or when you want? 

 

Terry Thayer: Well, as an employee, it's being removed out of your check every single pay period. 

 

Andre Popa: So you're working for Uncle Sam first. 

 

Terry Thayer: Yeah. I mean, you're working for the person that's paying you the check. You're making that person's dreams come true for one. 

 

Andre Popa: That's a checkmark, yeah. 

 

Terry Thayer: Let's start there. Then you're working for the government, then it pays off. I pay plenty of taxes every single year in other ways. I have many, many employees. I mean, there are so many other taxes, but I'm talking about apples-to-apples taxes. So again, it's taken out every single pay period. And then most people—because they're not doing things right, they're not calculating it right, they don't have the right tax planning, all that stuff—they're paying additional at the end of the year. So they're just getting slammed every single pay period. They're looking at their check, they're like, "Oh, there goes 50 percent," whatever it is once you take everything out, and then they're getting hit again. 

 

And then the difference between the entrepreneur, when you know what you know, when you learn how everything really works, you heard about all those people pissed off at Donald Trump because he doesn't pay taxes and he's a billionaire. 

 

Andre Popa: He's a fucking genius. 

 

Terry Thayer: He's a fucking genius. He owns bigger businesses. 

 

Andre PopaL He has more. 

 

Terry Thayer: But let me tell you something. I'm sure you've read a lot of his books. I love his books. The Art of the Deal—he talks about the different deals that he made with the city of Manhattan. But he created jobs. He created other streams of income, so much more income for those cities by putting this asset in place. 

 

Andre Popa: That's right. 

 

Terry Thayer: Therefore, they paid him in the form of depreciation to put that there. It's not a stupid move, it's not a selfish move, it's not anything because it helps the economy, it helps everything go round. 

 

Andre Popa: That's right, which goes back to working with your noggin. 

 

Terry Thayer: Yes. 

 

Andre Popa: That's where it's at. 

 

Terry Thayer: Exactly. 

 

Andre Popa: So you got to have the right mindset and then you got to have some courage behind all of that. Because I see a lot of people having great ideas, they have sort of, like you said, 80 percent mindset and then 20 percent skill, what I see a lot is people just lacking the fucking courage to just go do it. Like you said, you just got to take action, just go. 

 

Terry Thayer: Yeah, you do have to take action. And I think about a lot of people that—I'm going to tell a story here in a minute—but a lot of people are waiting for the right time. When is the right time to get married? When is the right time to have a baby? When is the right time to buy a house? Now. What the fuck are you waiting for? Just do it. What's going to happen? What's the worst that's going to happen? 

 

So out of all the people I've seen, I've talked to, that went out on entrepreneurship that actually drove and just said, "Here's what I tell people. Do you believe in yourself? Do you believe in yourself that no matter what, you're going to make it happen? You're going to do everything that you can." The answer is yes almost every single time. "I'm going to make it happen." They believe in themselves. Rarely do people doubt themselves. They doubt maybe the skill part. 

 

Andre Popa: Sure. 

 

Terry Thayer: Really, like I said, 80 percent of it is your drive, your motivation, your hustle, and 20 percent skill. And I'm like, "Look, you've got –" these are people that are on my mentorship. So it's like, "Okay, for people that are looking to join the mentorship." But then I'm like, "Okay. Well, you've got that, you've got the knowledge, you've got the resources. Whatever you feel like you're lacking, you've got YouTube, then just go ahead and do it." 

 

So I'm going to tell you a quick story. Actually, you know this person. First name, Brad. 

 

Andre Popa: Do I like him? 

 

Terry Thayer: Yes. Brad, in my area. 

 

Andre Popa: Oh, Brett. 

 

Terry Thayer: Yeah, not Brad. Brett. 

 

Andre Popa: Oh, yeah, yeah. I know Brett. 

 

Terry Thayer: So the Mastermind I told you about in Cabo, he came up with that Mastermind. He has a doctorate in physical therapy and he is working a full-time job. 

 

Andre Popa: That's right. 

 

Terry Thayer: So Brett is working a full-time job, making decent money as a physical therapist. He has a doctorate. COVID hits, he can't see patients, so it's weird. He was getting bored. But he'd been doing real estate on the side for quite a while. Well, he gets to the point where he's starting to think to himself and question, "Should I keep this job or should I go on entrepreneurship?" Well, he made that decision and he was like, "You know what, I'm quitting my job." He's only going in there a couple of hours a week here and there. He was like, "I'm quitting my job, I'm going full time in real estate." So we're sitting in the pool—me, Chris (ph). I know you remember Chris – 

 

Andre Popa: UPPA. 

 

Terry Thayer: – the quiet one, right –  

 

Andre Popa: Yeah. 

 

Terry Thayer: – and Brett. We're sitting in the pool in Cabo San Lucas and we're saying to Brett, like, "What are your goals this year? What do you want to accomplish?" He goes "I want to make $500,000 this year." And we looked at him like, "What the fuck! What do you mean $500,000?" So that's in July of 2020. I don't know what he finished out in July of 2020, but from July to July, he did right at about $1,000,000. He did a little over $1,000,000 in the year of '21. He messaged me, I want to say three weeks ago. He said, "I just did $400,000 this week." 

 

Andre Popa: Damn! 

 

Terry Thayer: Not month, not year, this week. 

 

Andre Popa: Nice! 

 

Terry Thayer: You know what I'm saying? But it was because he believed in himself. And he ripped the Band-Aid off, and he finally did it. But I remember talking to him for years because he was doing real estate on the side. "Well, I'll never quit my job. I love what I do." You love what you do until you realize that that's getting in the way between you and your goals and your dreams and your freedom. 

 

Andre Popa: Interesting. I remember he was part of one of my coaching groups and his biggest—and this is probably about the same time, right after Cabo, funny enough—and his biggest struggle was that he felt overwhelmed about what he had to do and how much work he had to do. So he sort of froze and didn't take action because there was so much to do. So fear would set in and he wasn't scaling, he wasn't growing. He's just stuck in a little box. Anyway, God bless him. That's fucking awesome. That’s huge. I'd love that. 

 

So I want to go back to the entrepreneur and taxes because, again, I want people to get nuggets. When an entrepreneur makes $400,000 in a month, does that person pay taxes first? 

 

Terry Thayer: No. 

 

Andre Popa: Why not? 

 

Terry Thayer: Because they don't pay until the end of the year. And then at that point, you can gather expenses versus your income and then you get the depreciation, and you hire people smarter than you to figure out some other cool things that you can do to not pay taxes. 

 

Andre Popa: So you get things called write-offs. 

 

Terry Thayer: Write-offs. 

 

Andre Popa: And employees don't get write-offs? 

 

Terry Thayer: Correct. 

 

Andre Popa: The most amazing part is how, again, America and mostly the whole world is set up for people to have good education then get a good degree somewhere, go get a good job, get a good salary, pay off the loan from the degree, and then you have a good wife and a good husband and a good whatever life. Then you work for 40 years and you're fucked. I mean, fuck! Who was born – who came out of their mother's womb thinking, "Oh, my God! I cannot wait to get me that 40-year job and then get a $40 fucking Timex at the end?" Nobody. But let me see your Rolex, fucker. Let me see it. Boom! Roly-poly! 

 

So my point is we live in a society where we're conditioned literally from birth as to what to do. The school system tells us you go get a good education, go get a good job, that's what we're built to do. So the few of us that have the drive to step out of that, to break out of the fucking mold and to say, "Hey, I want more. I want different. I deserve – my family deserves more. I want a Lamborghini. I want the fucking vacations. I want to travel once every single month," that takes something. 

 

And what I see today is a lot more people breaking out of the mold. And that's why I'm pushing these questions because I want people to understand that there is a different way. There is a different way than paying taxes first. And then if there's money left at the end of the month, damn! So when you have more months than money, at what point do you wake up to say, "Fuck! I got to do something different. How is that guy? How is that girl doing?" 

 

And so tell people about your systems, real estate. And I want to piggyback this by you mentoring a lot of people. Zach Campbell is on here. He's one of your mentees and I know how much he looks up to you. So first of all, talk to us about your systems, what you have in place, how people can get ahold of you, how they can get help, like, "Fuck my job. I'm going Terry Thayer." What does that look like? 

 

Terry Thayer: Yeah. Of course, before I do that, let me say this: we're only talking about active income, by the way. So you start off with active and then you have $1,000,000 a year and then that $1,000,000 a year you buy the assets that we're talking about – 

 

Andre Popa: That's right. 

 

Terry Thayer: – whether it's residential, single-family homes, there are rental properties, Airbnbs. I'm getting into this year, one of my goals that I'm looking at triple net lease buildings outside my window here. 

 

Andre Popa: Smart. 

 

Terry Thayer: I'm looking to get into multi-tenant triple net lease buildings is what I want to get into, apartment buildings. You've got storage units, trailer parks. I mean, there are so many different ways of investing in real estate. And then you just sit back and you collect checks, and you make money without working. Your money is working for you. 

 

Andre Popa: That's right. 

 

Terry Thayer: So it just starts to compound at some certain point in time where that money that's paying you – oh, then you've got all crazy, all kinds of crazy things. Then you have ways of getting money, getting paid tax-free. You take that asset, you pay it down, or you buy it at a good enough price. You rehab it, you raise the value of it, then you cash out, refi it. And then you owe this much, but then it appraises for this much and you get 80 percent of whatever that difference is, and it's tax-free money. So it's crazy, all the things that you can do with real estate. 

 

So what does our program look like? I mean, I have a mentorship, it's in the form of a group. I used to do one-on-one. And actually, we have a ton more success by doing it in a group setting. One of the first things that I get people set up with is restructure their business, how they're currently working. If they don't have a business, I'm like, "Okay, great. I can't teach you how to evaluate a property, YouTube can. That information is everywhere. But I'm going to show you how to put all your systems in place and get everything going." 

 

And we have a product that's less than $500, like, $497, or something like that. You follow me on Instagram—terrythayerii on Instagram. Go in my bio, you see in there, it says Lead Machine. It's a simple system that literally gives you step by step by step by step on exactly what to do to earn that $80,000, that $100,000 that I was talking about. That same system brings me over $200,000 a month per system. Now, once you get a system rolling, you do another one, you do another one, you do another one. I mean, our goal is to consistently do actively over $1,000,000 a month by the end of the year with this system. It's something that I feel like I was in a lab for a while. I was in a microscope, lab coat, sitting there mixing up this formula. We got this perfect formula and it's superefficient. 

 

Most people, to make that kind of money, are investing $20,000, $30,000, $40,000 a month just in marketing to get those returns. And we're doing it with – we outsource everything, so we don't do anything in-house. Therefore, it's a little bit more for us just because we're expanding, growing, and duplicating. So it cost me about maybe $10,000 per system versus the $5,000 per system. And there are people that can even do it for less than $5,000 because when they're first getting started, maybe they can't afford the entire big piece. So they manually do some of it until they generate their income to be able to outsource more and more and more of it. 

 

Andre Popa: Got it. So terrythayerii? 

 

Terry Thayer: Yeah. 

 

Andre Popa: That's your handle at Instagram? 

 

Terry Thayer: Yeah. 

 

Andre Popa: And obviously here, you can follow him through Facebook, and if you're listening to this, or YouTube later, just go to IG @terrythayerii. 

 

Terry Thayer: And it's on my Facebook as well, on my bio. 

 

Andre Popa: There you go. Yeah, yeah. So click, click, click link tree, all that fun shit. So you mentioned something about buying real estate, allowing it – so you have tenants in real estate, that could be a single-family, it could be multifamily, it could be commercial. You have tenants and they're paying down your mortgage. So five, eight, ten years down the road, let's say, they paid down. And as they paid down, obviously, it appreciated. So you got this beautiful spread that's happening every single day, every single day, every single day. It's just getting bigger and bigger. 

 

So what you're talking about is that you're cashing out that equity position. And here's the trick, people, here's the motherfucker: do you pay taxes on loans? 

 

Terry Thayer: No. 

 

Andre Popa: No! 

 

Terry Thayer: It's free money. It's free money. Tax-free money. 

 

Andre Popa: Poof! 

 

Terry Thayer: It's amazing. 

 

Andre Popa: Boom! So you see people out there in real estate and they're like, "Oh, my God! The cars and the jets and the this and the that." It’s like, "What do you do for a living?" "Well, I'm really living off of equity. I'm living off of these loans." And of course, they take it, they reinvest and they play, but that's the motherfucker. So can you get to a place where you never pay taxes? Yeah, it’s a beautiful thing. 

Terry Thayer: I was just going to say one more thing. We're talking about the glam of what money can do for you. Some people truly don't care about that. 

 

Andre Popa: Sure. 

 

Terry Thayer: Me, on the other hand, little booze here, go to nice resorts, have nice things. I like that. I like convenience. I like to get places faster, all that stuff. But on the other hand, there are truly people that care, like Brett, for example. He's driving around this old beater. I‘m like, "Dude, get something." It actually drives you to have something nicer. But some people really don't care. But on the flip side, those people that typically don't care, you typically like to give more. So it allowed you to do those things—give different foundations, church, whatever that you want to do, help other people get to where they want to go. 

 

Andre Popa: Which is a beautiful segue to my next point, like Zach Campbell here saying that he went all in and he has the best mentor around, et cetera. 

 

Terry Thayer: Who is it? 

 

Andre Popa: Huh? 

 

Terry Thayer: Who is it? I want to join that mentorship. 

 

Andre Popa: Just look in the mirror. You're right there. So the question is what is your passion around helping people because you don't have to? So here because I know you. You could easily set up systems and charge people money to teach them shit, got it, that there's a business level. But for you, it's a passion. So tell me about that. 

 

Terry Thayer: No, it really is. It's like I went through a lot of pain. I got beat down. I'm 20 years in this business. I feel like if I had the knowledge 20 years ago today, I could do this in three years. You know what I'm saying? So I got beat down. I did it the hard way. I beat up my body. I'm over here, I got a personal trainer trying to fix all my messed up body from being a carpenter and all this other stuff. So it's like it doesn't make sense. It's not necessary to go through all that pain. So I want to help people get there faster without going through the same pain. So it's like, "I don't have to do this." I mean, mentorship is extra money, but it's not about the money anymore. 

 

When you get to a certain point, it's not about the money. It's more passion-driven like helping you. I thrive on it. If I can literally just sit there and just help people get to the next level, I mean, that fills my cup. 

 

Andre Popa: Amen. Tell me about events. You've put on some large events, Cancun, Cabo, Jamaica, Europe coming up soon. See what I just did there? 

 

Terry Thayer: Yeah, I hear you. 

 

Andre Popa: That's for me. I'm the only attendee in the function room. Teach me. Will it be in Tuscany somewhere, motherfucker? 

 

Terry Thayer: Let's throw an event in Puerto Vallarta. 

 

Andre Popa: Okay. How about at the end of April? 

 

Terry Thayer: Let's do it. Let's do it. 

 

Andre Popa: Okay, fine. 

 

Terry Thayer: We have to have tequila and cigars, but go on. 

 

Andre Popa: Okay, fine. So tell me about events. Putting on events is not easy by any means. It comes with a thing. So number one, there has to be a pull, a passion. There has to be a thing of bringing people together. There has to be a community. And of course, again, I repeat, there has to be the business model behind it because shit is expensive. But tell us about events, why do you love events because you're really, really good at pulling people together. You're really good. 

 

Terry Thayer: Alright. So let me explain that. Luckily, I don't have to be the one that does everything to set up and do the event. Now, I just have to show up that week, the ones that you're referring to, the out-of-the-country ones. These are big—the retreats. And I get to serve people for an entire week in a high-level way and have a clear mind. This past event that we just did in Cancun last September was the first time I've ever been able to do that. Every other time – by the time the event comes, I'm like, "I'm never doing this again, this is the most painful thing I've ever done." Because of the setting up, getting attendees there and then actually being the host and serving people, you're exhausted, you're drained. 

 

This last one, it was so refreshing to have. People weren't coming asking me questions. But every single year that I did it and I said, "I'll never do it again, this is the last one," by day one, I'm like, "We're doing this again," 

 

Andre Popa: Ha! 

 

Terry Thayer: Because it's how people show up and what it does for other people, it's like that's what it's all about. It's not about the pain that comes to it. But luckily, I have a team that puts everything together, gets everybody there and then I can just come and show up and do what I do best. 

 

Andre Popa: Amen. So these events, they're called TAB Retreat, T-A-B, and the same thing is true with following Thayer but Thayer fair, Terry fair, geez Louise! 

 

Terry Thayer: Not Louise, I'm Terry. 

 

Andre Popa: Not geez either. Poof! Oh, God! So back – 

 

Terry Thayer: Don't get me started. 

 

Andre Popa: I'm sorry. I'm trying to compose myself. 

 

Terry Thayer: Go ahead. 

 

Andre Popa: Hoo! So TAB Retreat, you'll get information there. But they're really amazing retreats because – I mean, the speakers that he brings, the knowledge, there's just a lot of ammunition that he brings to the table. So they're really, really well done, spares no expense at literally some of the best resorts out there. So it's a really special event. Let me ask you one more question. We got about a few more minutes here. Question: you work together with your wife, Kristi? 

 

Terry Thayer: Yes. 

 

Andre Popa: For the entrepreneurs out there that are like, "Oh, my God! I cannot wait to work with my wife," or "Fuck! Oh, I'm not going to work with my wife," or they're working with their wife and they're struggling. How do you do it? 

 

Terry Thayer: It was tough, but now it's great. And I think that the tough part was figuring out how to do it because nobody told me how to do it. 

 

Andre Popa: That's right. 

 

Terry Thayer: And I remember, someone started telling us how to do it, or what to do. We did it and it's completely different to what it is today. And I'm going to explain. So one of the biggest pieces of advice that I ever got about working together with my wife was, "You know what, you guys write down what am I going to do." What am I responsible for? What is she responsible for? And we're just a two-person team, essentially. 

 

Andre Popa: Sure. 

 

Terry Thayer: We would have to meet every single week. Technically, we met every single day for lunch, dinner. We had a thing about watching TV, but we had to try to figure out how to shut it off and how to turn it back on, and all that stuff. So it started off. I can remember our first—I wish I had written it down—but I remember, first, I was a construction guy. I'm running all that stuff. I'm the project manager. She's running marketing and accounting, all that stuff. I was doing with all that. Guess what she does today. She 100 percent runs our building company. 

 

Andre Popa: Wow! 

 

Terry Thayer: I'm just a license holder, that's it. I have this whole plaque on the wall that says that I qualify to do this. 

 

Andre Popa: It's a receipt. 

 

Terry Thayer: Yes, it's a receipt. That's it. That is the only thing that I do. Occasionally, I had to admit she asks the questions, we strategize and mentor. That company will bring in over eight figures in profit this year alone and she's running that. And the entire team—except for the people on the field—is all women running a building company, an eight-figure earning building company – 

Andre Popa: Amazing! 

 

Terry Thayer: – where I'm more doing the marketing, the content, the servant, and all that stuff. So I think the biggest piece of advice is stay in your own lane. Let each other do each other's parts. Don't be overwhelming. And it's not always the man over the woman. I have many people, even people in my mentorship, that are like this, and it's the woman over the man. They're the dominant ones. 

 

Andre Popa: Sure. 

 

Terry Thayer: Whoever the dominant one is, you need to back down. Let each other do each other's job. And I see people like, "Oh, they are going on appointments together." That sounds like the highest and best use of your time—divide and conquer. And then meet, set goals. Set goals, write everything out, and hold each other accountable every single week. So it's like, "Okay, I have to do this, this, this and this. This is what I want to accomplish this week. You want to accomplish this, this and this." At the end of the week, where do we get? And instead of empowering each other and helping each other get to the goals because at the end of the day, it's one common goal. We're going to the same place. We're just doing it together to get there faster. It's two versus one. 

 

And here's one other piece of advice: 90 percent of the time, it's always like, "Oh, honey"—the mentee, or wife, or girlfriend, whatever it is—"you do the accounting" because he's got a fucking accounting degree. I mean, that is the biggest mistake I see in business, including myself. It cost us years of trying to fix that problem by having a non-accountant do accounting. Hire a bookkeeper. Have a CPA meet with the bookkeeper once a month, and get it done right, to begin with because then that goes back to that big old T-word again—tax. If you do that right, you're not paying taxes. 

 

Andre Popa: So how much is it costing you, what are you trying to save, a great point. I think a lot of early entrepreneurs focus on, "Well, I don't have a lot of money, so I got to save it. So I got to do as much as I can. I will become the technical person," and that's a problem. But I love what you said, and I know John Campbell's here—Zach's dad—and he said that Kristi gives you your assignments. 

 

Terry Thayer: Yes. 

 

Andre Popa: Yeah. So there you go. 

 

Terry Thayer: She dresses me, too. 

 

Andre Popa: I know. I like the Nike swoosh. 

 

Terry Thayer: You like that? Oh, it's on the side. 

 

Andre Popa: Yeah, it's okay. Oh, God! That's why you need Kristi because you probably wouldn't leave the house. 

 

Terry Thayer: They would size it honestly. It's like I was – 

 

Andre Popa: "God, help me." She'll text, "It's on the left side." And so one thing – what you've just said, I think figuring out what you're really, really good at for each of the partnership, really, top three things that you really excel at, touch those. Anything else, if you touch those, it's going to create pain of some sort—stress, time, money—it's going to create some pain. But understanding, number one, what are you really good at, what's your partner really good at, stay in your own fucking lane, and then outsource. Outsource. 

 

People say, "I cannot afford a bookkeeper." Listen to me really quick. Upwork.com. Upwork.com. Did you get that, everybody? Upwork.com. You can go get a bookkeeper that will do your tax there in India, Philippines, Albania, it doesn't fucking matter. They're trained in QuickBooks, whatever you want, to do taxes in your state. That's how trained these people are. You can get people from $8, $10 a fucking hour. You can get people to do your returns for $30. 

 

Terry Thayer: I have nearly 100 people, maybe over 100 people working for us in other countries for, I want to say, $6 is the highest that I'm thinking of, and under. 

 

Andre Popa: Six dollars an hour. 

 

Terry Thayer: And they're making a lot of money. 

 

Andre Popa: They're rich. Like I just bonused three people $100 each, three different VAs for the website that we're wrapping up. And holy shit! I just changed her fucking life. 

 

Terry Thayer: Exactly. 

 

Andre Popa: Outside of what I paid them, I'm like, "Here's $100." Anyway, it's amazing because we're just used to the fact that, well, in America, it's $2,000 to do a corporate tax return. Why? Why? So my point is back up to – in the early stages when you just don't have the funds, you don't have the abilities yet, learn to outsource. The faster you outsource—and I'll go even deeper—you can get a coach. 

 

I met a hypnotherapist on Upwork from Australia, on fucking Upwork. And it's like, "What? You can literally do anything." My point is get out of your own way. And I think what, Terry, you just said is get out of your own fucking way and let go. The other thing that you said that was powerful and I want you to go – actually, here's a question: what did you have to let go of from yourself in order to allow Kristi to blossom, or for her to just fucking run because you ultimately had to let go? 

 

Terry Thayer: Oh, God! I was a control freak. 

 

Andre Popa: I know. 

 

Terry Thayer: I think that goes back to pain. Everything comes back to pain. And I think it was – it’s the pain of being a control freak, feeling like I have to be responsible for everything. I have to watch and touch every single thing, and just being like, "Look at this person. I'm holding this person back and not allowing them to do what they can do at a high level. Let me just try and see what it's like if I let them do it." I'm like, "Pughhh!" We're all going for the same common goals. 

 

Andre Popa: That's right. 

 

Terry Thayer: Yeah, just for me, it was pain. It's the pain of doing everything. 

 

Andre Popa: But why did you do that? Where's the pain? What's the actual pain that was causing you to – 

 

Terry Thayer: No freedom. 

 

Andre Popa: No. But no, no. But I'm going before that. So because of pain, we control. So because of certain pain from the past, "We have to make sure everything is my way. It's got to get done. It's not enough. We need more." Where was that pain from? 

 

Terry Thayer: I mean, it's from not hiring the right people, not having the right people in the right place, and it's screwing up and costing me money. Is that what you're getting at? 

 

Andre Popa: There's the emotional stuff behind it. I don't know if we have time to get into that now. But of course, of course, it's what we just talked about in the beginning. We don't outsource because, like, "I can tell you, I got to do it. Who's going to touch my money, my numbers?" But there's the emotion behind that, but maybe we'll do a 2.0 of this conversation. 

 

Terry Thayer: Let's do it. 

 

Andre Popa: Maybe in Puerto Vallarta. I don't know. 

 

Terry Thayer: It would be good. 

 

Andre Popa: You want to go live? 

 

Terry Thayer: Yeah, live with cigars, not in a hot tub. 

 

Andre Popa: Why, we've done that before. It's like, "How do you make Andre and Terry soup?" Well, you get them drunk, put them in a hot tub in a hotel room, then press Play on Facebook Live. 

 

Terry Thayer: We've done that before. Check. 

 

Andre Popa: Check! Oh, Lord. All right. That was awesome. Any final words of just loving on people? 

 

Terry Thayer: Yeah, final words would be this: if there's something in your head that you want to do but you're afraid to do it and you're hesitating to actually do something, you could stay in that space and never go anywhere. And literally, here's the thing: "Oh, I'll do it next year. I'll do it next week. I'll do it next month." Guess what, we're not promised. It's all of that. We're not promised tomorrow. We're not promised five minutes from now. 

 

So we don't just go ahead and do something and make our own dreams come true and take control of our lives. We may never get there. And there are people – knock on wood, I mean, it drives me crazy to think, I'm 47 years old and I'm seeing people dropping dead in their 40s, not waking up. I mean, we're not promised tomorrow. So why are we waiting for tomorrow? Why are we waiting for tomorrow to, like you said, work 40 years of your life, retire, the next year you die? For what? What was the point? 

 

Andre Popa: That's right. 

 

Terry Thayer: I used to always think to myself like, "I'm going to be so pissed off if I didn't die because I've got bit by a spider or a snake." That to me is getting bit by a spider or a snake, we're going to die. 

 

Andre Popa: Yeah, yeah 

 

Terry Thayer: You know what I mean? 

 

Andre Popa: Yeah, I do. 

 

Terry Thayer: So just do it. Just do it. Rip the Band-Aid off. And you know what, at the end of the day, you're going to figure it out. You're not going to let yourself go hungry. And I don't want to hear all this bullshit about the economy, the war might be here. There's always something, always, always, always something. But guess what, I'm like, "I'm thriving during this time and it's only going to get bigger and better." 

 

Andre Popa: Because—and we'll sort of wrap with this, you guys—what Terry just said is create a standard. So what Terry today has done, he's created a mental standard that, "I'm going to succeed, no matter fucking what—war, economy, Biden, Trump. Cool. Things are happening, but I'm going to stay above it and take care of my family and my team and my businesses, and I have to grow" because remember, things, businesses, people, none of us can stagnate. Stagnation equals death. So if you're not growing, you're dying. So everything he just said is he's 100 percent about growth, and that's all he's done in the last ten years. He kept fighting, fighting, fighting. He hit walls, fuck the wall, jumped over it, went around it, knocked down the wall. He kept going, persevering. And today he's helping thousands of people around the world, kick ass, take names and make a shit ton of money in the process. 

 

So default Terry Thayer @terry, T-E-R-R-Y, thayer, T-H-A-Y-E-R-I-I, Instagram and Facebook here, you can also follow him. Click on the link there. Go see what he does. And hopefully, we'll meet at one of his events very soon. 

 

It was a pleasure, my brother. Thank you for blessing us with your presence on the Who's A Badass Show. 

 

Terry Thayer: Well, thanks for finally having me. I feel like I made it. There's one more thing I could check off the list along with doing live in a hot tub with you. 

 

Andre Popa: Okay, fine. Maybe we'll do that one day, too, soon—end of April. 

 

Terry Thayer: Look, guys, if you want to go into my Facebook and scroll back about, what, two or three years, you'll see it in there. 

 

Andre Popa: And mine, too. 

 

Terry Thayer: And his, too. True story. 

 

Andre Popa: And we don't lie and we just say it like it is. Thank you again, brother. I will see you very, very soon. Everybody, do a huge global applause and a thank you to the one and only Terry Thayer. Thank you, man. 

 

Terry Thayer: Thanks, guys. 

 

Andre Popa: Peace. 

 

Thank you all for tuning in. Thank you for listening. And remember, the goal here is for you to gain information that can change your life, that can set you up for a better tomorrow on your way to becoming a badass. And remember, a badass is simply somebody that is free and happy. If you're not happy and free on the inside, we're empty. You know what to do. Click all the Love buttons, Subscribe button. Leave a comment. Leave a beautiful review because of course, you're in love with this information and, of course, it is changing your life. Share this with someone. Please get this information out there. Love you guys and I'll see you on the next episode. 

 

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