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Breaking into real estate investing can feel overwhelming, but for those willing to take imperfect action, success is not just possible—it’s inevitable. Cody Hofhine, an expert in wholesaling and the founder of Joe Homebuyer, shares powerful insights on achieving success in real estate by focusing on mindset, community, and actionable steps. Whether you’re just starting or stuck at a plateau, Cody’s journey from struggling insurance agent to real estate mogul provides a roadmap for turning determination into profit.
If you’ve been searching for ways to build your business and generate motivated seller leads, you’re in the right place. Let’s dive into the key strategies Cody shared that can help you achieve your first million and beyond.
Cody’s Inspiring Journey
Before diving into real estate, Cody Hofhine was far from the success story he is today. He spent years working with his father in construction and later transitioned to selling insurance. Despite his efforts, Cody faced financial struggles, earning only $19,000 in a particularly tough year while trying to support his growing family.
The turning point came in 2015 when he returned home one day to find his wife crying at the kitchen table, forced to choose between paying the mortgage or putting food on the table. This moment of desperation sparked Cody’s decision to explore real estate investing, an idea he had encountered but never fully considered during his five years of attending REIA (Real Estate Investor Association) meetings.
Within 39 days of learning the basics of wholesaling, Cody closed his first deal, earning $24,000. That pivotal experience showed him the potential of real estate and set him on the path to building a multimillion-dollar business.
Surround Yourself with the Right People
Success in real estate starts with your inner circle. As Cody explained, you’re the average of the five people you spend the most time with. If you surround yourself with people who inspire and challenge you, you’ll naturally adopt their habits and mindset.
Many new investors overthink the process—believing they need the perfect plan, logo, or system before starting. But according to Cody, your first million is more about action and less about perfection. Surrounding yourself with motivated, like-minded individuals will encourage you to take those first critical steps.
Leverage “Ripoff and Duplicate”
Cody shared a key principle that simplifies success: “We’re no longer in the world of research and development (R&D); we’re in the world of ripoff and duplicate.” This means instead of reinventing the wheel, investors can mirror the strategies of those who have already achieved success in their field.
By learning from others, you can avoid common pitfalls, streamline your efforts, and see faster results. Whether it’s wholesaling, scaling your business, or generating leads, leveraging existing blueprints is a smart way to accelerate growth.
Focus on Imperfect Action
A common trap for aspiring real estate investors is getting stuck in "YouTube University"—endlessly studying without taking action. Cody emphasized that achieving your first million is not about flawless execution but about taking consistent, imperfect action.
He shared his own experience of jumping into wholesaling with limited knowledge. Within 39 days of learning the basics, he closed his first deal and earned $24,000. This imperfect yet bold approach set the stage for long-term success.
Don’t let fear of failure hold you back. Instead, embrace the learning curve, make mistakes, and adapt. Action beats hesitation every time.
Scaling Through Joe Homebuyer
Cody and his partner founded Joe Homebuyer in 2019, a franchise model designed to help investors scale their businesses to seven figures. With over 95 franchises across the nation, Joe Homebuyer provides a proven blueprint for building a thriving real estate business.
The franchise is not just about systems—it’s about creating a supportive community where investors can learn, share, and grow together. Cody noted that even top producers benefit from being part of a like-minded network, as it keeps them motivated and inspired during challenging times.
Leverage the Power of Delegation
For investors looking to scale their business from six to seven figures, delegation is a game-changer. Cody explained that many entrepreneurs hit a plateau because they try to do everything themselves. By delegating lower-value tasks, you can focus on activities that generate significant returns.
Cody referenced Dan Martell’s concept of "buying back your time"—hiring others to handle $10/hour or $15/hour tasks so you can focus on $500/hour or $1,000/hour activities. Delegation not only improves efficiency but also frees up time to think strategically and grow your business.
Insights into Hiring Processes
One challenge Cody faced early on was hiring the right people. He emphasized the importance of having a robust hiring process to avoid bringing in the wrong candidates. Cody’s approach ensures that hires align with the company’s culture and goals, reducing turnover and improving team performance.
This system has helped Cody and his team build a business capable of scaling efficiently, even as they manage multiple franchises.
Community is Key
One of the most overlooked aspects of success is the power of community. Cody’s Joe Homebuyer franchise fosters a network of experienced investors who collaborate, share insights, and motivate one another. He emphasized that even top-performing investors benefit from being part of a supportive community.
Whether it’s brainstorming new strategies or reigniting motivation after a tough day, being surrounded by like-minded individuals keeps you focused and inspired.
Overcome Limiting Beliefs
Many investors are held back by subconscious beliefs, such as “I wasn’t meant to be a millionaire.” Cody encouraged readers to challenge these limiting beliefs and rewrite their narrative. Success isn’t about where you come from; it’s about where you’re willing to go.
The biggest breakthrough often comes from stepping outside your comfort zone. Start small—whether it’s hiring a virtual assistant, making your first cold call, or attending a networking event. Each step will build confidence and momentum.
Cody’s Free Resource
To help investors succeed, Cody offers a free resource called “The Joe Way,” which outlines his proven five-step negotiation process. This system is designed to help investors lock up deals at the lowest possible price, improving profitability.
You can access this resource at Joe Homebuyer, where you’ll also find accompanying training videos that guide you through each step of the process.
Build a Business, Not a Job
Cody explained that true success in real estate comes from building a scalable business rather than simply creating another job for yourself. This requires investing in leadership skills, creating systems, and hiring A-players who can help grow your business.
To attract top talent, Cody highlighted the importance of becoming a strong leader. “A C-leader can only attract C-players,” he explained. By focusing on personal development and leadership, you’ll not only grow your business but also create a team that supports your vision.
Take Action Today and Build Your Million-Dollar Real Estate Business
Success in real estate begins with action. Whether you’re generating motivated seller leads, building your team, or scaling your business, remember that every great investor started where you are now. Take that first step, surround yourself with the right people, and don’t let fear of imperfection hold you back.
Ready to take your real estate business to the next level? Start building your dream team and generate more motivated seller leads today. With the right mindset and action plan, your first million is closer than you think.
