Listen to the podcast here:
How Just 7 Hours Can Transform Your Investor Brand
Nick Raithel Unlocks Your Power To Become An Author
If you’re looking for practical tips and advice on mitigating and eliminating risk with the investment vehicle known as private mortgage lending, then you’re in the right place. If you want to learn from my mistakes so that you can avoid them, then pull up a chair. This show is created for those who are looking to take control of their financial future by doing what it takes to create wealth in the marathon of life with old world techniques and values. I’m looking to create a tribe of lenders that will disrupt the way we think about and teach our kids about money. Speaking of money, this episode will be geared more towards the borrowers out there and a few lenders as well.
I would imagine those who would want to borrow from a private lender would find an interest in our guest as I have the pleasure of speaking to Nick Raithel. He has a very impressive business model that holds your hands and walks you into becoming your own author of your own book in a very short amount of time. It’s a cool idea from an interesting individual. I want to introduce him to Lender Nation. Before we get into the interview with Nick and learn how he does his magic, I have some news to share. There’s going to be a big piece of humble pie coming my way because not too long ago I said I was going to give up sponsors and focus on other things, content and whatnot, which I have done.
At the same time, these opportunities come to take on a sponsor, which is Quest Trust Company. They can’t pay me. It’s a symbiotic relationship where I’m able to teach classes with them. I sponsor their events and they in turn are sponsoring the podcast leading up into their expo. They’re having their big self-directed IRA Expo, the second one ever. The promo code is PLPodcast for a 25% discount. I’m bringing back sponsorships for the Quest IRA Expo on August 23. I’ll also be there hosting a happy hour the night before it starts in the hotel bar. When I say hosting, I don’t know how many cocktails I’m going to buy but at least, we’ll be there. We’re going to have a cool event organized with a lot of the vendors and VIPs that will be showing up at the conference.
You’re in for a treat because I have Nick Raithel on with us. He has an interesting business model that can help perhaps lenders and investors alike. He has an interesting story. I can’t wait to get into it. Let’s go ahead and welcome Nick Raithel. Nick, welcome to the show.
Thank you very much for having me. I look forward to contributing.
For the audience, give us an idea. I understand you’re relatively new in your actual deal-making with the real estate game. We’re going to talk about the real reason why I wanted you on. Go ahead and give us a little background, origin, how you got into real estate and how you got into having your podcast and this business of creating books for investors.
My background is the creator of a system that helps real estate investors and private lenders, people throughout the entire space, related spaces to create their own professionally published book. For building their authority, building their investor database and promoting themselves and their businesses in the span of seven hours. What leads to that was an interest in content creation, the use of content and content marketing and then that transitioned into books. Realizing that of all the forms of content that a person could use to build their credibility, books are really one of the most tangible and most effective forms. Having worked with a variety of clients, helping them to get a book and use that book build their authority, build their businesses, I myself had to fall in love so to speak with real estate. I was hearing about it from our clients who are investors. They were doing syndications. They were doing flips. It’s one that could be feasible for anyone, not just people who’ve been doing it their whole lives. Let’s say a doctor or an attorney is beginning to think about their retirement, but the average person or someone from a content marketing perspective is looking at what deals can bring you.
We’ll get back into the real estate side of it. How do I create a book in seven hours or how do you help me create a book in seven hours?
That’s the key part that you are not creating a book in seven hours. All of the people we work with, our clients, they only have to spend a total of seven hours of their time on the process. We, on our side, are spending a whole lot more than seven hours. What they’re doing though is they’re talking to us on seven one-hour calls over Zoom or Skype or phone even. In that process with the calls, they’re going through a set of questions and a framework to get the ideas for the book out of their head and give those ideas to us as we’re doing the calls and questioning them to then on our side create the book. That’s the gist of the 7-Hour Book.
Seven hours for the “author” or your client, how many hours are you running behind the scenes? Do you have some prolific writers on staff or are you doing this yourself or do you have people to help you with this?
I’m fortunate to have a very talented team that has taken quite a while to assemble. In terms of how long we as a team are spending on it, it’s too long. The short way of answering that is too long, but in a good way though. Some of our writers tend to be a little bit more obsessive in terms of how much time they spent on a particular chapter or on a particular section of the book from the quality perspective, but too long.
You want good quality, but from an operations perspective, that can bog you down. If you don’t mind, walk me through a high-level overview of the seven calls. What are you helping me with? Let’s say I’m a real estate investor and I want to be a flipper.
Let’s say you’re a flipper. The very first step in that process of even doing a book is to determine should you have one in the first place. The reason I say that is because sometimes you might find that your goals don’t necessarily need a book in order to be accomplished. If in the case of being a flipper, if your goal is simply to flip more houses or to attract more deals to you, there are a variety of ways that you could do that. You might, for example, need to send out more mail. Hook up with a direct mail powerhouse company and send more mail pieces or maybe you need to go on the attack with bandit signs, put out more bandit signs. Maybe those are the means by which you’re going to achieve your goals. You could find out that your goals are achieved through a book and that’s where someone like myself would come in with the 7-Hour Book. I would encourage everyone to think for a moment before the book enters the picture about what their goals are and what are all of the ways to achieve those goals.
That’s a great first step. It’s extremely pragmatic and practical. Looking at other options to say, “Is a book going to be a fit for me?” You said it’s geared to build credibility. If I wanted to flip, I see where I just amp up the marketing. However, if I want to start teaching how to flip, if I wanted to ramp up a coaching business, I could see where that would be. You worked with people who are doing syndications. I could see where a book would be a great way to basically open doors for somebody.
Especially in the syndication sense, a book does open doors and we’ve seen this with clients we’re working with, who are syndicators. You’re looking to build the number of email subscribers or build the number of contacts in your database. One of the best ways to have people coming into your database is to give them something of value to stay in contact with you. If you’re giving them a book, not only does it show them that you know what you’re doing, which is important in the area of syndications. You don’t want to go into syndication with someone who they’re not sure, does he even know how to refi these properties or do a five-year turnaround? You want to make sure you’re educating them on that, but you also want a logical way to stay in touch with them. A way that isn’t continually pitching them but is giving them something of value. That’s what a book would do.
I myself have entered the fray of online eCommerce content marketing. It’s a great way to stay in touch with them without pitching. Anyone who’s on my email list knows that I email extremely infrequently, hardly ever. For every guru out there, I know I’m doing it wrong. I want to build a brand more than I want to pitch somebody. You’re doing a sales pitch here in this interview. I’m sitting here looking like, “I could totally use this myself,” but I want to get it back into the audience. I’m still hung up on that. It’s a great way without pitching. I got on Grant Cardone’s list. I got tired of ten emails a day. I had to get off of it. This is a great way. It’s portable. The more I talk to you, the more I love this idea. Walk us through with syndications. Let’s get out of the single-family. Let’s go in with apartment buildings or commercial. We’re getting ten or twelve investors together. A sponsor comes to you and says, “Nick, can you put a book together for me?” You guys sit down and establish the goals are in alignment. A book will help him. Is there a lot of paperwork or is it all chatting on the phone to get the information to your company?
In terms of the paperwork itself, what you were saying is we try to keep that to a minimum and focus it on talking over the phone. If you’re a real estate investor, especially as we’re saying, syndicators, flippers can be quite busy too. If you’re in that position, you already have enough stuff to worry about. We’re trying to take as much of the paperwork and as much of the headache out of it through simplifying it to talking with us on the phone. In doing many of these calls, we will often send questions and outlines for the calls to people ahead of time, but we don’t expect them necessarily to spend hours on their end preparing. It is designed to be taking the information out of their head as soon as possible for us to then turn it into a book. Given that structure, you have a fair amount of mental bandwidth and the amount of brain space to a minimum so they do not have to think too much.
I hate the word hack, but I can’t think of one. To me, a hack has a negative connotation, an easy short step or a shortcut, but you’ve taken the heavy lifting out of the “author’s hands.” Do you consider yourself ghost authors or co-authors or how does that work?
No, we’re definitely not ghostwriters or ghost authors or anything of that sort. The reason for that is that ghostwriters typically are English majors or people who are focused on making something sound pretty. While there’s nothing wrong with words that sound clever or smart, that’s not our goal. Our goal is specifically ROI in getting a result. If that result can be achieved through writing something that makes people laugh or chuckle, okay but we’re not looking at it from that perspective. We’re looking at it from the perspective of how do we craft this book and put it together in such a way that’s going to get that result. We’re also looking beyond the book coming out to what we can do to market this. How we can make this book go viral within your target demographic so it does start bringing in a flood of interested investors or a flood of other people to help you achieve your goal.
Not only do you put the book together, but you help market it?
Absolutely and part of marketing that we focus on too is building it into of the book itself. That’s something that a lot of ghostwriters and other people who focus on writing miss. It’s the idea that when you’re creating a book you can build it in, for example book ambassadors. What I mean by a book ambassador is someone who has a vested interest in it. How would you do that? One of the ways would be to ask people you’ve worked with. If you’re a deal sponsor, you’ve worked with them the past, write them into the book, whether that’s a direct story of how they’ve been involved with you or if they’ve done real estate investments of their own, feature their stories from those investments in the book too. By doing that, you’re giving them a reason to praise the book and to promote the book once it comes out because they’re in it. Who wouldn’t want to promote a book that they’re in? You’re creating book ambassadors through writing a book.
How did you come up with this idea? Not the secret sauce but what was happening when this idea hit you?
Are you talking about the book ambassador?
It’s for the whole business. I understand the book ambassador, you’re basically laying the groundwork for someone to speak well of the book. The whole idea of the 7-Hour Book, how did that come about?
A book is a way that isn't continually pitching clients but is giving them something of value.
Click To Tweet
It was a fusion of a couple of different things. One of them being people who wanted to do books. The issue always or nearly almost always seems to be that they don’t have time. You can’t blame them if they’re doing syndications, if they’re flipping houses, if they’re doing wholesale deals, there’s not any time leftover. Yet people know at the same time too that a book can be tremendously powerful in attracting speaking opportunities or in building your authority or in accomplishing various other goals. Recognize that time is the issue and try to figure out how to mitigate and ultimately eliminate that issue standing between them. I find it fascinating to think about life hacking and trying to be a little bit better than you were yesterday through various productivity kicks. All of those together, the result was the 7-Hour Book.
You’ve identified a problem and you solved it. That makes it sound like it’s like an ultra-simple thing, but that’s what all good businesses do. Especially now in the Alexa world that we live in, the drive-through Alexa world, time is our most precious commodity. You’re basically giving an author time. How long have you been going at this?
I would say long enough to get gray hairs, putting it like that. We’ve been doing it for quite some time. It ends up getting pretty stressful thinking about all the books.
Do you get a lot of single-family people to come in for your services or is it more of a sophisticated investor or both? How is it mixed?
It is both, although we have seen that there are a lot more multifamily guys. This is probably due to the surging popularity right now of multifamily. We’re in the midst of what I would term the multifamily gold rush in the sense that everyone wants to be in it right now. With so many people wanting to be in it, that’s creating a need for people to try to position themselves and stand out. We’re seeing them do that whether it’s through books on my side or even starting podcasts. It seems like people have latched on to this formula. If you raise capital, what do you do? You start a podcast and you podcast all about multifamily real estate and the benefits of it. That’s one of the ways to do it with a book being another.
I can vouch for a personal experience that I’ve put a lot more than seven hours into this podcast. You’re the giver and taker of time. There is the multifamily gold rush. That’s a very apt way of saying it especially more so in the Dallas-Fort Worth area in my home state. It’s definitely going on. I remember sitting in a mastermind years ago and the guy said, “What’s the difference between investing in $100,000 house or a $1 million commercial property?” The answer was a comma and some zeros. That’s it. I am not surprised that there’s been a natural progression for more and more people into multifamily. It’s quite popular right now. I know you said you’ve learned from your clients on real estate and doing deals. Thank you for your candor for saying you’re starting out. I would love to know what type of deals you’d like to do. Are you a wholesale, landlord or flipper? What do you like about real estate? What are you trying to do?
I found that given everything we’re involved in with the 7-Hour Book, the team and all of that flipping and wholesaling is making the most sense right now from the standpoint that it doesn’t require that much time. I’m nowhere near as proficient at it as many people out there but a lot of it can be automated. It can be automated. It can be outsourced. That makes it a lot easier with sending out the mail and with finding people on various delinquent tax lists. That’s where I am right now with real estate using those channels. Eventually, perhaps I’m going to go in the multifamily direction, but long before that, I would be much more interested in going into self-storage or even something which I don’t know too much about.
You were talking about the pods, the storage, they dropped him off at the people’s house.
It’s self-storage units and self-storage complexes. I think that’s fascinating. I would also at some point in the future be interested in exploring container shipping. Essentially self-storage units that you park inside of a dock or that you even put on a boat because there’s undoubtedly an opportunity there.
What part of the country are you in for the audience, give them some perspective?
I’m based out in the West Coast.
The West Coast has a lot of docks, ports, terminals and whatnot. My day job is insurance in the oil field. I deal with a lot of that stuff. I’d like to know what book are you reading right now?
I am one of these people who tends to look at books almost like a buffet and that I’ll pile a bunch of them on my plate, so to speak, at once and work through them from that standpoint. Right now on my plate, coming back from the buffet, there are a couple of books. One of them that I’m rereading at this point is The Magic of Thinking Big by David Schwartz, which is coming at it from the personal development standpoint. I like that book because as the title suggests, it is about thinking big. It’s about expanding your thinking. Also with that book, overcoming clichés and mental limiting beliefs that tend to set in over time. One of them being that I’m too old to do X, it’s important to read books to keep those mental cobwebs from setting in and from overtaking you as you get older. That’s one of the books that I’m reading through right now. Another one would be Set for Life by Scott Trench of BiggerPockets. I heard good things. It was recommended by a guest on my podcast, Jay Papasan. He recommended it. I’m giving that book a spin. Those are two of the ones that come to mind right now.
Thank you for sharing those with us. What is something that most people don’t know about Nick Raithel?
It’s probably the fact that I love running Ultras. I’m in the process of training right now for my first Ultra. I’ve done a couple of marathons to date. I want to get into the Ultra space after seeing amazing things about it.
Ultra-marathon, how many miles is that?
Each of us is moving at our own pace through life living our own story. Run your own race and don’t compare yourself to others.
Click To Tweet
That’s the thing, it varies. It’s anything upwards of about 30 miles.
I’m curious, what intrigues you about that?
I’ve always been in distance running and Ultra seems like the final frontier. If we talk about outer space being the final frontier, but from endurance and particularly the running standpoint, Ultra seems like the end.
My wife is a runner. She ran the Houston marathon. Unfortunately, five months later, she broke her foot. It set her back obviously. She’s run the last two halves. She derives as much enjoyment, pleasure or satisfaction from running long distances as I do say cooking barbecue or doing some French cooking in the kitchen. It’s almost as if classical music is playing in the background for me when I’m cooking in it. She explained or described as similar to her. Her podiatrist when she broke her foot, he’s big into the Iron Man and his son, a 13-year-old kid, goes with him and races with. I look at that and go, “I have absolutely no excuse for my current physique.” Thank you for that because the whole running thing, my wife loves it. I totally appreciate that you love it.
If you ever want to get into it or get steps going in the direction, I can certainly help you. Running is an acquired taste in that you don’t have to be a born runner. There aren’t too many born runners unless we’re talking about the Kenyans or that tribe in Mexico that they wrote a book about. Other than those groups, a lot of people who enjoyed it and happened to be pretty good at it didn’t start out that way. Whether through some life event, like being obese or finding through other circumstances that they were running and they enjoyed it. That was how they got into it. Those of us who are doing these upper distances in running, whether it’s your wife or in my case trying to do even longer races, we’re not necessarily super humans or out of your ordinary. Having a plan and you know what you want, it’s well within your reach.
You’re not competitive. I know you are with yourself. Outside of with other people, do you consider yourself competitive?
That’s one of the beauties I found of running. It’s one of those activities that beyond the sport itself, but it reminds you that each of us is moving at their own pace and looking at their own rate through life, living our own story. What I mean by that is it might sound a little bit esoteric, but if you think about being out on the trail running, you’re running along and suddenly someone else, you see them coming, you don’t know where they’ve been. You don’t know how much longer they’re run is going to be. They come along and they pass you. Do you speed up and you try to race them or do you recognize that you don’t know where they’ve been? You don’t know how much longer they’re run is going to be.
You’re sitting back and running your own race, continuing to run and running as far or as fast as you intend to be. That’s a good metaphor in life. Recognize that in real estate, if you see somebody who owns let’s say 11,000 units and you’re just starting off as a real estate investor. Do you compare yourself to that person? Maybe in a positive standpoint, it’ someone you want to aspire to be, but you also recognize like into trail running example. If you don’t know where that person has been, you don’t know how much longer they have been at it. Your best option is to run your own race as best as you can.
If somebody wanted to get in touch with you about running or let’s say they need a book, how do they get in touch with you, Nick?
The best way would be to go to our website, ContentCorps.net. Look on the website and think again about whether a book is something that makes sense for their goals.
First off, I want to thank you for reaching out to me because this is all happening because of an email that you sent me. You took that first step and I greatly appreciate it. I’ve enjoyed your interview here. I would like to touch base with you in a little while and see how your real estate investing is coming along. I’m definitely going to talk to you about running a barbecue and a few other things. Thanks.
Thank you, Keith, for having me.
I want to thank Nick for coming on this show talking about seven steps, seven hours. I was interviewed by Nick. It’s one of my favorite interviews I’ve done on someone else’s show. I highly recommend you go there, check it out. It’s time for me to grovel and ask that if you find value in this show, please leave me a rating and review over at iTunes. Connect with me on social media, Facebook, Instagram, mostly LinkedIn and sometimes BiggerPockets. I want to thank you for reading. I appreciate your time, your consideration. I’m going to ask that you keep reaching out to me. I appreciate the feedback and emails. I know I owe a lot of people a lot of apologies. I’ve found some emails that are three or four months old. I’m trying to get responded to those. That’s my fault for letting it slip through the cracks. I apologize but thank you for reaching out. Please continue to do so. Besides good health and fulfillment, I wish you all safe and prosperous private lending. I will catch you in the next episode.
- Nick Raithel
- Quest Trust Company
- Quest IRA Expo
- 7-Hour Book
- The Magic of Thinking Big
- Set for Life
- Jay Papasan – guest of 7 Rules for Real Estate Investing Podcast
- Keith Baker Interview – 7 Rules for Real Estate Investing with Nick Raithel Podcast
- Private Lender Podcast on iTunes
- Facebook – Private Lender Podcast
- Instagram – Private Lender Podcast
- LinkedIn – Keith Baker
- BiggerPockets – Keith Baker
About Nick Raithel
Nick Raithel is the creator of the 7-Hour Book. This proven system allows any entrepreneur to get their own professionally-published book while spending only 7 hours of their time on it.
With the 7-Hour Book, Nick is on a mission to help entrepreneurs and others in business finally get the recognition they deserve. Time and again, he’s seen those in nearly every community who have incredible stories and knowledge to share.
A book is an ultimate way for them to share their insights and, in doing so, establish the credibility needed to raise capital. Yet the issue always seems to be that no one has any time. Seeing this, Nick combined advanced time management strategies with his own experiences in publishing and marketing. The result was the 7-Hour Book, a service that’s been delighting clients ever since.