The REAL Wealth Formula Podcast

Firing contractors is one of the most uncomfortable parts of real estate investing — and one of the most expensive if you do it wrong.
In this episode of The Real Wealth Formula, Brad Hovis breaks down exactly how and when to fire contractors so you don’t lose time, money, or control of your project.
Brad shares hard-earned lessons from decades of rehabbing properties, including:-why he has never regretted firing a contractor too soon-how poor character costs more than poor craftsmanship-how contracts, lien waivers, and fast decisions protect your assets-and how to avoid being held hostage on your own property
This is not theory. These are real stories, real mistakes, and real systems that protect your cash flow and your peace.
If you’re rehabbing houses, managing contractors, or planning to invest in real estate — this episode can save you thousands.
✔ why people stay stuck financially for decades✔ why lifestyle creep quietly destroys progress✔ how avoidance keeps people stressed and overwhelmed✔ and how real wealth is built slowly, intentionally, and with purpose
If you’ve ever felt behind, discouraged, or confused about money, this episode will bring clarity, conviction, and hope.
 
💡 Key Takeaways
✔ Why firing contractors early saves money and stress✔ The biggest red flags that tell you a contractor won’t work out✔ Why character matters more than skill on job sites✔ The “starting five” contractors every investor needs✔ Why you should never pay for incomplete work✔ How contracts and lien waivers protect your property✔ What to do immediately after firing a contractor✔ When it makes sense to “pay them off” and move on✔ How systems turn rehabs into a repeatable business✔ Why strong contractor teams accelerate passive income
 
🔗 Resources and Links Mentioned
REIBIZ: reibiz.comFreedomSoft: realwealthformula.com/sponsorsPropStream: realwealthformula.com/sponsors
🤝 Connect With Us
Website: www.realwealthformula.comPhone: 877-77-MOGULEmail: podcast@realwealthformula.com
📱 Social Media Channels
Facebook: Real Wealth FormulaLinkedIn: Real Wealth FormulaInstagram: @realwealthformulaX (Twitter): @realwealthshowTikTok: @realwealthformulaYouTube: Real Wealth Formula
 
⏳ Chapters
00:00 – Introduction03:56 – The Biggest Red Flags on Job Sites04:38 – Why Firing Too Late Always Costs More06:09 – The “Starting Five” Contractors You Need07:00 – Specialists vs “I Can Do Everything” Guys08:10 – When to Fire a Contractor Immediately09:20 – Why You Never Pay for Incomplete Work10:08 – Contracts, Lien Waivers & Protecting Yourself11:50 – How to Avoid Being Held Hostage12:49 – Real Stories of Contractor Blow-Ups13:40 – When It Makes Sense to Pay and Move On15:01 – The Right Way to Negotiate a Clean Exit17:58 – Building Contractor Teams That Scale20:35 – Turning Rehabs Into a Repeatable Machine21:25 – Final Advice 

Most people believe their financial stress will disappear once they make more money.
It won’t.
In this episode of The Real Wealth Formula, Brad and Dr. Brian E. Arnold breaks down why income alone never creates freedom and why habits, stewardship, and structure matter far more than your paycheck.
This is a practical, faith-driven conversation about:
✔ why people stay stuck financially for decades
✔ why lifestyle creep quietly destroys progress
✔ how avoidance keeps people stressed and overwhelmed
✔ and how real wealth is built slowly, intentionally, and with purpose
If you’ve ever felt behind, discouraged, or confused about money, this episode will bring clarity, conviction, and hope.
 
💡 Key Takeaways
✔ You cannot out-earn poor financial habits
✔ Why income growth without discipline increases stress
✔ The real reason most people stay financially stuck
✔ How stewardship creates peace, not restriction
✔ Why responsibility comes before freedom
✔ The danger of delaying financial decisions
✔ The difference between being busy and being wealthy
✔ Why faith requires action in money
✔ How the R.E.A.L. process builds stability before growth
✔ Why long-term wealth is built, not stumbled into
 
🔗 Resources and Links Mentioned
REIBIZ: reibiz.comFreedomSoft: realwealthformula.com/sponsorsPropStream: realwealthformula.com/sponsors
🤝 Connect With Us
Website: www.realwealthformula.comPhone: 877-77-MOGULEmail: podcast@realwealthformula.com
📱 Social Media Channels
Facebook: Real Wealth FormulaLinkedIn: Real Wealth FormulaInstagram: @realwealthformulaX (Twitter): @realwealthshowTikTok: @realwealthformulaYouTube: Real Wealth Formula
 
⏳ Chapters
 

One of the most common questions real estate investors ask is:“What local markets actually work for investing?”
In this episode of The Real Wealth Formula, Brad Hovis sits down with long-time partner John Webb to break down the real way to choose real estate markets using both data and real-world experience.
They explain why price-to-rent ratios matter, why distressed inventory is essential, and why you can’t rely on spreadsheets alone. From Memphis and St. Louis to San Antonio and Detroit, Brad and John share firsthand stories—both good and dangerous that reveal why market selection is as much an art as it is a science.
If you’re tired of chasing “hot markets” and want to build safe, sustainable cash-flowing rentals, this episode will completely change how you think about location.
Real talk.Real numbers.Real freedom.
 
💡 Key Takeaways
✔ Why price-to-rent ratio is non-negotiable for buy-and-hold investing✔ How distressed inventory determines whether a market works✔ Why some cities cash flow while others never will✔ The difference between A, B, C vs D & F neighborhoods✔ Why data alone is dangerous without boots on the ground✔ How brand-name commerce (Starbucks rule) signals stability✔ Why investors exit markets before they collapse✔ How jobs, job diversity, and tenant demand protect cash flow✔ Why vacancy—not repairs—is what really kills returns✔ How to blend faith, wisdom, and discernment into market decisions
 
🔗 Resources and Links Mentioned
REIBIZ: reibiz.comFreedomSoft: realwealthformula.com/sponsorsPropStream: realwealthformula.com/sponsors
🤝 Connect With Us
Website: www.realwealthformula.comPhone: 877-77-MOGULEmail: podcast@realwealthformula.com
📱 Social Media Channels
Facebook: Real Wealth FormulaLinkedIn: Real Wealth FormulaInstagram: @realwealthformulaX (Twitter): @realwealthshowTikTok: @realwealthformulaYouTube: Real Wealth Formula
 
⏳ Chapters
 

Hiring contractors can either make you money or completely destroy your deal.
In this episode of The Real Wealth Formula, Brad breaks down the exact rules he follows when hiring contractors, built from years of experience, millions in rehab projects, and painful (expensive) lessons learned the hard way.
He shares why you should never give contractors deposits, how to protect yourself from disappearing crews, and how one mistake cost him $18,000 in a matter of days.
This is a no-fluff, real-world guide for real estate investors who want to:
-protect their capital-finish projects on time-avoid scams-and build wealth without unnecessary stress
If you’re buying, rehabbing, or managing property—or plan to—this episode can save you thousands.
Real talk.Real numbers.Real freedom.
 
💡 Key Takeaways
✔ Why giving a contractor a deposit is one of the biggest mistakes investors make✔ The safer alternative: paying vendors directly for materials✔ Why you should never pay for incomplete work✔ How fast payment after completion attracts the best crews✔ The “big boy date” rule that prevents delays and excuses✔ Why contracts protect both sides when done right✔ How lien laws actually work (and how they can hurt you)✔ The true story of losing $18,000 by breaking one rule✔ Why discipline in rehabs directly impacts your freedom and cash flow
 
🔗 Resources and Links Mentioned
REIBIZ: reibiz.comFreedomSoft: realwealthformula.com/sponsorsPropStream: realwealthformula.com/sponsors
🤝 Connect With Us
Website: www.realwealthformula.comPhone: 877-77-MOGULEmail: podcast@realwealthformula.com
📱 Social Media Channels
Facebook: Real Wealth FormulaLinkedIn: Real Wealth FormulaInstagram: @realwealthformulaX (Twitter): @realwealthshowTikTok: @realwealthformulaYouTube: Real Wealth Formula
 
⏳ Chapters
00:00 – Introduction01:18 – Why This Rule Matters for Real Wealth02:02 – The Right and Wrong Way to Hire Contractors03:00 – Roofing Scams & Why Deposits Disappear04:05 – Pay the Vendor, Not the Contractor05:22 – Why Materials Should Always Be Yours06:48 – A $100K Pool Scam Story07:25 – Never Pay for Incomplete Work08:59 – Why Big Companies Cost More (Same Workers)09:24 – Paying Fast After the Job Is Done10:28 – The “Last 5%” That Never Gets Finished11:15 – Why Speed Matters in Real Estate12:05 – Asking for the “Big Boy Dates”13:35 – Holding Contractors Accountable for Timelines14:20 – Why Every Job Needs a Contract15:46 – Lien Laws Every Investor Must Understand17:08 – Contractors, Liens, and Leverage18:17 – The $18,000 Mistake Brad Made20:55 – How Contractors Hold Investors Hostage22:38 – The One Rule That Would’ve Prevented It All23:47 – Final Advice on Hiring Contractors
 

What if the real reason you’re stuck financially has nothing to do with your income… and everything to do with your identity?
In this emotional and eye-opening wealth review, Brad sits down with Marion — a single mom of four who’s been in survival mode for years — to uncover the hidden behavioral patterns, beliefs, and dependencies that quietly sabotage financial freedom.
If you’ve ever wondered “Why do I keep ending up in the same money situation?”, this episode reveals the honest, faith-centered truth most people never hear.
Together, Brad and Marion walk through the entire R.E.A.L. process — Reduce, Enlarge, Acquire, Live — while confronting deep-rooted habits, painful childhood stories, and the mindset shifts required to build real wealth built on purpose, not pressure.
This isn’t just budgeting.This is transformation.
 
💡 Key Takeaways
✔ Why Marion’s issue isn’t budgeting — it’s decades-old survival patterns ✔ The shocking habits that secretly keep people in “working poor” mode ✔ Brad’s tough-love moment: confronting dependency and learned helplessness✔ How to reset financially when you’re behind on bills, debt, and hope✔ What to do when your income simply isn’t enough ✔ How to rebuild confidence, boundaries, and financial identity✔ Why passive income is the long-term North Star — even when you’re starting at zero✔ A step-by-step action plan Brad creates to help Marion stabilize, earn more, and reclaim her future
 
🔗 Resources and Links Mentioned
REIBIZ: reibiz.comFreedomSoft: realwealthformula.com/sponsorsPropStream: realwealthformula.com/sponsors
🤝 Connect With Us
Website: www.realwealthformula.comPhone: 877-77-MOGULEmail: podcast@realwealthformula.com
📱 Social Media Channels
Facebook: Real Wealth FormulaLinkedIn: Real Wealth FormulaInstagram: @realwealthformulaX (Twitter): @realwealthshowTikTok: @realwealthformulaYouTube: Real Wealth Formula
 
⏳ Chapters
00:00 - Introduction01:02 - Meeting Marion02:24 - Career History and Job Transition04:42 - Current Financial Situation and Stress06:04 - Identifying Passion vs. Current Work08:42 - Analyzing Income and Monthly Expenses12:11 - Reviewing Debt and Financial Dependencies16:58 - Examining Spending Habits and Bank Statements20:51 - The Problem with Financing Depreciating Liabilities23:59 - Addressing Financial Enabling and Psychology28:17 - Childhood Trauma and Its Lasting Impact33:00 - Breaking the Cycle of Dependency38:10 - The Trap of Government Assistance and Survival Mode43:05 - Defining Legacy and a New Mindset50:33 - The Real Wealth Formula Evaluation57:01 - Presenting the Five-Step Success Plan01:01:00 - Final Encouragement and Closing
 

What does it really take to become a wealthy real estate investor — not just on paper, but in real life?
In this episode, Brad sits down with Matt Sanchez, a humble Denver investor who has done over 1,000 deals, survived multiple market cycles, built long-term cash flow, developed properties, and quietly created the kind of freedom most people only dream about.
Matt breaks down the REAL difference between equity and cash flow, why cash flow is the king of financial freedom, how foreclosure auctions work behind the scenes, and what new investors must understand before they ever buy their first deal.
If you’re an aspiring real estate investor, a side hustler, or someone stuck in a 9–5 dreaming of freedom, this episode is gold.
Real talk. Real numbers. Real freedom.
 
💡 Key Takeaways
✔ Why cash flow is king (and equity can actually cost you money)✔ The truth about foreclosure auctions and how they really work✔ How Matt bought hundreds of auction properties without losing money✔ Why wealthy investors stay humble, low-profile, and disciplined✔ How to analyze a house without ever stepping inside✔ The strategy of buying junior liens for massive discounts✔ Why some investors overbid — and how to avoid emotional mistakes✔ How to build wealth while still working a full-time job✔ Why flipping is another job, but cash flow equals freedom✔ How passive income gives you the power to work because you WANT to
 
🔗 Resources and Links Mentioned
REIBIZ: reibiz.comFreedomSoft: realwealthformula.com/sponsorsPropStream: realwealthformula.com/sponsors
🤝 Connect With Us
Website: www.realwealthformula.comPhone: 877-77-MOGULEmail: podcast@realwealthformula.com
📱 Social Media Channels
Facebook: Real Wealth FormulaLinkedIn: Real Wealth FormulaInstagram: @realwealthformulaX (Twitter): @realwealthshowTikTok: @realwealthformulaYouTube: Real Wealth Formula
 
⏳ Chapters
00:00 – Introduction01:54 – How to Buy Real Estate at Foreclosure Auctions05:25 – How Redemption Works at Auctions07:00 – Strategies to Avoid Losing Your Money08:33 – Wiring Funds & Auction Prep12:42 – How to Use Lines of Credit to Buy Properties14:37 – Analyzing Rehabs Without Access Inside20:00 – How Investors Wholesale Auction Deals25:00 – How Deals Get Traded Like Baseball Cards27:00 – The Real Estate Investor Lifestyle29:25 – How Matt Got Started in Real Estate31:31 – Working a Full-Time Job While Investing33:18 – Doing 40 Years of Real Estate Deals35:01 – Living a Humble Millionaire Lifestyle38:30 – Why Cash Flow Has Always Been His Foundation40:10 – What Freedom Feels Like When Cash Flow Covers Life43:00 – Advice for New Investors45:07 – Cash Flow vs Flipping: The Real Difference45:49 – Closing Thoughts
 

Most people think legacy is about money, retirement, or what gets written in a will.
But Brad breaks down the deeper truth: legacy is what lives on because you lived.
In this emotional and powerful episode, Brad shares how suffering, faith, purpose, and passion shape the legacy you’re meant to leave. He walks through the Real Wealth Formula — Reduce Expenses, Enlarge Active Income, Acquire Passive Income, Live on Passive Income, Leave a Legacy — and explains how the final “L” transforms your entire life.
Brad shares deeply personal stories about loss, the NICU, childhood, Christian education, and the people who stepped in when his family had nothing. These defining moments became the fuel for his life’s biggest mission: making Christian education accessible for all.
If you’ve ever wondered “What am I really here for?” or felt like your days blend into work → sleep → repeat, this episode will wake something up inside you.This is about purpose.This is about impact.This is about the legacy you were created to leave.
 
💡 Key Takeaways
✔ Your greatest purpose often comes from your deepest pain✔ Why legacy requires something emotional, personal, and meaningful✔ How to identify what truly motivates you✔ Why wealthy people think beyond money and toward impact✔ How the Real Wealth Formula positions you to fund your legacy✔ How to reverse engineer a legacy into actionable steps✔ Why passive income allows you to do work you WANT to do✔ The power of a “Big Hairy Audacious Goal” (BHAG)✔ Why your assets should outlive you and continue your mission✔ How Brad uses real estate income to fund Christian education
 
🔗 Resources and Links Mentioned
REIBIZ: reibiz.comFreedomSoft: realwealthformula.com/sponsorsPropStream: realwealthformula.com/sponsors
🤝 Connect With Us
Website: www.realwealthformula.comPhone: 877-77-MOGULEmail: podcast@realwealthformula.com
📱 Social Media Channels
Facebook: Real Wealth FormulaLinkedIn: Real Wealth FormulaInstagram: @realwealthformulaX (Twitter): @realwealthshowTikTok: @realwealthformulaYouTube: Real Wealth Formula
 
⏳ Chapters
00:00 – Introduction01:38 – Today’s Question: How to Leave a Legacy04:00 – What Motivates Your Legacy?04:31 – Turning Personal Pain Into Purpose05:49 – Brad’s Story: NICU, Loss, and Faith07:37 – How to Stay Motivated Through Vision09:47 – Life Is More Than the Daily Grind11:00 – Brad’s Childhood, Christian School & Scholarships13:32 – The Working Poor & Financial Struggle15:04 – Why Money Shouldn’t Decide Who Gets Education17:08 – Brad’s Legacy Mission: Christian Education for All19:10 – Why Faith and Truth Matter in Education22:07 – Why Sacrifice Leads to Abundance23:00 – Legacy: Doing Work You Want, Not Work You Must23:49 – Final Encouragement & Closing
 

What happens when a hardworking mom of three tries to grow her income but keeps getting held back by hidden expenses and debt?
In today’s Real Wealth Review, Brad Hovis sits down with Jessica Savage — a hairstylist, educator, and entrepreneur — to break down her real numbers, real habits, and real path to building wealth for her family.
Jessica currently makes around $5,000/month, recently launched a hair-extension education program, and even pulled in $14K in a single weekend. But like many Americans, car payments, debt programs, and lifestyle creep are slowing her down.
 
💡 Key Takeaways & What You'll Learn
Why your income isn’t the problem, your spending patterns are
The hidden cost of car loans and debt forgiveness programs
How a hairstylist created a $14K weekend with one skill
What lifestyle creep looks like (and how to reverse it)
Practical ways to grow your active income without burnout
The surprising discipline trick Brad used with silver
How everyday people can start building real wealth today
Where most families lose money without realizing it
How purpose, clarity, and simple habits create financial freedom
🔗 Resources and Links Mentioned
REIBIZ: reibiz.comFreedomSoft: realwealthformula.com/sponsorsPropStream: realwealthformula.com/sponsors
🤝 Connect With Us
Website: www.realwealthformula.comPhone: 877-77-MOGULEmail: podcast@realwealthformula.com
📱 Social Media Channels
Facebook: Real Wealth FormulaLinkedIn: Real Wealth FormulaInstagram: @realwealthformulaX (Twitter): @realwealthshowTikTok: @realwealthformulaYouTube: Real Wealth Formula
 
⏳ Chapters
00:00 Introduction02:00 Meet Jessica: Hair stylist and educator07:50 Education business11:58 Current earnings — Jessica’s monthly income15:58 Debt and expenses18:24 Financial discipline — Stop financing cars19:58 Debt discussion21:50 Credit card28:00 Savings hack32:49 Monthly expense breakdown33:11 Enlarge active income36:58 Acquire passive income39:34 Legacy and philanthropy47:23 Wealth review grade — Scoring Jessica’s plan53:50 Success plan recap56:35 Motivation and mindset — The “why” behind wealth58:00 Closing Thoughts
 

Should a real estate investor get their real estate license?
Brad and Brian break down one of the most common questions newer investors have and the answer isn’t what most people think.
In this episode, you’ll learn the real reasons investors choose to get (or not get) their license, the creative finance traps that licensed agents must avoid, and how to decide whether a license will accelerate or slow down your investing journey.
Brad and Brian share real stories from hundreds of deals, real-world negotiation insights, and the mindset wealthy investors use to evaluate every opportunity without falling for hype, fear, or industry pressure.
If you’re trying to decide whether a license belongs in your wealth-building toolbox, or if you want the freedom to invest without limits, this conversation gives you the clarity you need.
 
💡 Key Takeaways
You do not need a license to become a successful real estate investor
The real reason some investors still get licensed
Why many realtors fail and what the good ones actually do
The investor vs. realtor mindset (completely different)
The ONE huge downside of being licensed: creative finance limitations
How to avoid realtor conflicts, liability, and bad deals
Why off-market deals are better than the MLS for investors
How to choose whether a license fits YOUR goals
Why truth, negotiation, and local relationships matter more than credentials
The principles wealthy people follow in real estate and in life
🔗 Resources and Links Mentioned
REIBIZ: reibiz.comFreedomSoft: realwealthformula.com/sponsorsPropStream: realwealthformula.com/sponsors
🤝 Connect With Us
Website: www.realwealthformula.comPhone: 877-77-MOGULEmail: podcast@realwealthformula.com
📱 Social Media Channels
Facebook: Real Wealth FormulaLinkedIn: Real Wealth FormulaInstagram: @realwealthformulaX (Twitter): @realwealthshowTikTok: @realwealthformulaYouTube: Real Wealth Formula
 
⏳ Chapters
00:00 – Should Investors Get Their Real Estate License?01:55 – Do You Need a License to Invest?02:50 – Why Brian Became a Licensed Realtor07:04 – How Brian Uses His License as a Tool, Not an Identity09:48 – How Realtors Should Actually Work With Investors11:00 – Buy Side vs Sell Side: How the Game Changes17:00 – Commission Breath and Bad Realtor Habits18:30 – How to Identify Good Realtors From Bad Ones22:00 – The 3 D’s: Death, Divorce & Distress24:45 – Real Estate Education, Negotiation & Truth Telling27:00 – How The NAR Settlement Changes the Game29:40 – Working With Professionals Who Tell You the Truth33:00 – Birth of Multiple Streams of Income (The Right Way)35:30 – Why Being Specialized Makes You Wealthy Faster37:40 – Off-Market Deals, Distress & Real Needs42:48 – Real Estate as a Lifestyle, Not Just an Investment45:10 – Final Wisdom: Master One Skill Before Adding More46:12 – The Importance of Local Community & Mentorship47:02 – Closing Thoughts
 

What if the real definition of wealth has nothing to do with net worth, fancy cars, or a stacked bank account?
In this episode, Brad breaks down the real meaning of financial freedom — living on PASSIVE income. Not hoping. Not grinding forever. Not praying your job stays stable.But actually having enough monthly cash flow to cover your entire life.
Brad explains:-how to calculate your “monthly nut”-why passive income must be greater than your net worth-how wealthy people think differently about expenses-why most people stay stuck in the middle class-how he retired at age 31-how many rental properties it really takes to become “wealthy”-the mindset shift that changes everything
If you’ve ever wondered “How do I actually LIVE on passive income?” — this episode gives you the clearest step-by-step path you’ll find anywhere. Faith-rooted. Practical. Life-changing. This is Real Wealth.
💡 Key Takeaways
Why you MUST know your “monthly nut"
How to raise your lifestyle the right way (only after cash flow increases)
Why wealthy people acquire assets BEFORE spending
The math of living on real estate passive income
The mindset shift from spending → buying assets
How a single rental property can cover real expenses
Why increasing active income fuels passive income
Why real estate is the most reliable path for everyday people
How to live a life where you work because you want to, not because you must
🔗 Resources and Links Mentioned
REIBIZ: reibiz.comFreedomSoft: realwealthformula.com/sponsorsPropStream: realwealthformula.com/sponsors
🤝 Connect With Us
Website: www.realwealthformula.comPhone: 877-77-MOGULEmail: podcast@realwealthformula.com
📱 Social Media Channels
Facebook: Real Wealth FormulaLinkedIn: Real Wealth FormulaInstagram: @realwealthformulaX (Twitter): @realwealthshowTikTok: @realwealthformulaYouTube: Real Wealth Formula
 
⏳ Chapters
00:00 – Introduction01:19 – Why Your Monthly “Nut” Matters More Than Net Worth02:25 – Reducing Expenses as the First Step to Wealth03:14 – How Real Estate Passive Income Actually Works05:19 – Using Assets, Not Salary, to Fund Your Lifestyle06:05 – Wealthy People Think About Money Differently07:01 – The Real Purpose of a Side Hustle08:00 – How Brad Retired at 31 Through Cash-Flowing Assets09:10 – The Weekly, Quarterly & Yearly Wealth Plan10:00 – How Brad Time-Blocks Work, Life & Freedom10:48 – Vacations, Fun, and Living on Passive Income12:04 – Why You Should Never Sell Cash-Flowing Assets12:34 – Expanding Lifestyle ONLY When Passive Income Increases13:05 – Final Steps to Live on Passive Income