--- title: From Living in a Car to Seven Figures with Ricky Carruth description: One of the biggest mistakes people make when first starting out is focusing on the money rather than the people… but what they often don’t realize is that if you value relationships over income, business is unlimited! When you build your job around the people who like and love you, they’ll provide for your business in both the short term and the long term. That is the lesson that today’s podcast guest, Ricky Carruth, is here to teach us! image: https://www.theinvestorsedge.com/hubfs/Blog%20Media/SevenFigures.jpg --- [Skip to content](https://www.theinvestorsedge.com/incomehacker/from-living-in-a-car-to-seven-figures-with-ricky-carruth#main-content) [ Close ](https://www.theinvestorsedge.com/incomehacker/from-living-in-a-car-to-seven-figures-with-ricky-carruth#) - Courses - House Flipping - [Find Fund Flip System For Houses](https://www.theinvestorsedge.com/find-fund-flip-system) - Land Flipping - [Find Fund Flip System For Land](https://www.theinvestorsedge.com/land-flipping) - Software - Tools & Automation - [The Investor's Edge Software](https://www.theinvestorsedge.com/real-estate-investment-software/investors-edge/) - [Proof of Funds](https://www.theinvestorsedge.com/real-estate-investment-software/proof-of-funds) - [Next Property Roadmap](https://www.theinvestorsedge.com/real-estate-investment-software/next-property-roadmap) - [Mortgage Rate Historical Chart](https://www.theinvestorsedge.com/mortgage-rate-historical-chart) - 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Courses - House Flipping - [Find Fund Flip System For Houses](https://www.theinvestorsedge.com/find-fund-flip-system) - Land Flipping - [Find Fund Flip System For Land](https://www.theinvestorsedge.com/land-flipping) - Software - Tools & Automation - [The Investor's Edge Software](https://www.theinvestorsedge.com/real-estate-investment-software/investors-edge/) - [Proof of Funds](https://www.theinvestorsedge.com/real-estate-investment-software/proof-of-funds) - [Next Property Roadmap](https://www.theinvestorsedge.com/real-estate-investment-software/next-property-roadmap) - [Mortgage Rate Historical Chart](https://www.theinvestorsedge.com/mortgage-rate-historical-chart) - [Median Sales Price Historical Chart](https://www.theinvestorsedge.com/median-sales-price-sold-historical-chart) - [Median Monthly Rents Chart](https://www.theinvestorsedge.com/median-monthly-rents-chart) - Calculators - [Advanced Deal Analyzer](https://www.theinvestorsedge.com/real-estate-investing-calculators/advanced-deal-analyzer) - [ARV Calculator & Property Value Analysis](https://www.theinvestorsedge.com/real-estate-investing-calculators/arv-calculator) - [Mortgage Calculator](https://www.theinvestorsedge.com/mortgage-calculator) - [Early Mortgage Payoff Calculator](https://www.theinvestorsedge.com/early-mortgage-payoff-calculator) - [Amortization Calculator](https://www.theinvestorsedge.com/amortization-calculator) - Funding - Funding with The Investor's Edge - [Funding Your Next Flip](https://www.theinvestorsedge.com/funding) - [Our Funding Process](https://www.theinvestorsedge.com/our-funding-process) - [Where We Lend](https://www.theinvestorsedge.com/where-we-lend) - [Why Off-Market Properties](https://www.theinvestorsedge.com/off-market-properties) - Financing Options - [Hard Money Loans](https://www.theinvestorsedge.com/hard-money-loans) - [Gap Financing Ideas](https://www.theinvestorsedge.com/hard-money-loans/gap-financing) - About Us - About The Investor's Edge - [About Us](https://www.theinvestorsedge.com/about-us) - [How We're Different](https://www.theinvestorsedge.com/about-us/how-were-different) - What Our Members Are Saying - [Reviews and Success Stories](https://www.theinvestorsedge.com/about-us/reviews) - [Recent Fix & Flip Rehabs](https://www.theinvestorsedge.com/rehabs) - Investing 101 - Start Here - [Real Estate Investing For Beginners](https://www.theinvestorsedge.com/real-estate-investing-for-beginners) - Finding Properties - [Our Finding Process](https://www.theinvestorsedge.com/our-finding-process) - [Find Motivated Sellers](https://www.theinvestorsedge.com/find-sellers) - [Market to Motivated Sellers](https://www.theinvestorsedge.com/market-to-motivated-property-sellers) - Buying Properties - [Calculate After Repair Value](https://www.theinvestorsedge.com/calculate-after-repair-value) - [Estimate Rehab Costs](https://www.theinvestorsedge.com/estimate-rehab-costs) - [Calculate Profits](https://www.theinvestorsedge.com/calculate-profits) - [Negotiate Offers](https://www.theinvestorsedge.com/negotiate-offers) - Wholesale Properties - [Find Cash Buyers](https://www.theinvestorsedge.com/sell-properties/find-cash-buyers) - Investing Strategies - [Fixing & Flipping Houses](https://www.theinvestorsedge.com/fixing-and-flipping-houses) - [Wholesale Real Estate](https://www.theinvestorsedge.com/wholesale-real-estate) - [BRRR Method](https://www.theinvestorsedge.com/brrr-method) - [Blog](https://www.theinvestorsedge.com/blog) - [Podcast](https://www.theinvestorsedge.com/incomehacker) CALL US: [(801) 396-9772](tel:+18013969772) Search Suggestions ![SevenFigures](https://www.theinvestorsedge.com/hs-fs/hubfs/Blog%20Media/SevenFigures.jpg?width=300&name=SevenFigures.jpg) Oct 23, 2019 1:56:00 PM # From Living in a Car to Seven Figures with Ricky Carruth [Previous ](https://www.theinvestorsedge.com/incomehacker/how-to-buy-a-property-without-a-down-payment) [Next ](https://www.theinvestorsedge.com/incomehacker/cashflow-management-and-the-millionaire-mind) - [Tweet](https://twitter.com/share) ## Listen to Episode 20: One of the biggest mistakes people make when first starting out is focusing on the money rather than the people… but what they often don’t realize is that if you value relationships over income, business is unlimited! When you build your job around the people who like and love you, they’ll provide for your business in both the short term and the long term. That is the lesson that today’s podcast guest, Ricky Carruth, is here to teach us! Ricky Carruth has built an incredible real estate business based on the core values of creating strong relationships and being a servant to others. Now, he wants to give back to the real estate community by helping new and experienced agents who want to take their business to the next level and beyond. Ricky is a hard worker, and the first completely-free real estate coach on From Zero to Diamond, a coaching company created to help agents differently by sharing a highly unique low-pressure approach. He is also an author and has been named the #1 RE/MAX agent in the state of Alabama on two occasions.  In this episode, Ricky will show you how to increase your personal income based on production, while setting long term investments that work as your foundation and provide sources of passive income. He will also let you in on his personal story that drove him to ground zero during the financial crisis of 2008, and led him into the ethos with which he carries business ever since: “relationships over transactions”. Ricky will share with you the biggest mistakes to avoid when first starting out in the pursuit of instant success. *“How can we be in a position where we can have unlimited income based on our production, that’s what real estate is. Having your real estate license it’s hard to get started, but it’s so worth it. If you put the work in and you’re committed, you can create an income like I have, 7 figure. And you can have disposable income to invest the way that you want to invest and then, you can take your life to another level. So I would say, long-term investing before short-term investing and work on just everyday just trying to get a little better to increase your personal income.” - *Ricky Carruth **Podcast summary:** - (03:13) - A bit about Ricky and his background growing up in Alabama, and his mission to reduce the failure rate, one agent at a time! - (07:01) - How winners make it happen, and why tenacity is key on your way to success. - (10:35) - His first income hack, and his hard-work mentality. - (13:23) - Why working hard is not enough and how adapting to the market and trying to figure out what works and what doesn’t is just as important. - (15:03) - Concentrating on the relationships (the beginning) and not the money (the end), and how being people first will bring you unlimited business. - (18:55) - His biggest income mistake, and why getting too much in debt while searching for easy gains is not the right approach. - (19:54) - Why long-term approach to prospecting will get you short and long term business, and how to win long and short. - (21:27) - How to mitigate the risk when investing in flix-and-flip properties, and the power of disposable income. - (25:03) - How to get ahead, move quickly and sell a house at the best price when the market changes. - (28:33) - His biggest Income Hack Success, and how he turned his life around during the foreclosure era, from living in a car on his way to seven figures. - (33:34) - His advice on starting your financial journey from ground zero. - (37:19) - The right mindset to keep when becoming a real estate agent, and why YOU are only 90 days away from your first paycheck. **Connect with Ricky** [Zero to Diamond](https://zerotodiamond.com/) [YouTube](https://www.youtube.com/channel/UCP0h0eOBAg4hj1LHR28T6wA) Want to learn more? Join Ryan on our next webinar to learn how you can start real estate investing with The Investor's Edge. [![Learn More - Attend Our Next Webinar](https://no-cache.hubspot.com/cta/default/23711988/17584397-0a87-4eac-9f6e-804ef02c9b6b.png)](https://cta-redirect.hubspot.com/cta/redirect/23711988/17584397-0a87-4eac-9f6e-804ef02c9b6b) ![avatar](https://23711988.fs1.hubspotusercontent-na1.net/hub/23711988/hubfs/RyanGWright-Headshot.jpg?width=290&name=RyanGWright-Headshot.jpg) [Ryan G. Wright ](https://www.theinvestorsedge.com/incomehacker/author/ryan-g-wright)Ryan became a multimillionaire before the age of 30 through a combination of real estate investing and a passion for personal finance. He hates Wall Street, loves personal margin, and advocates for everyone to take control of their finances themselves - all of which he talks about on the Income Hacker podcast. COMMENTS ## RELATED ARTICLES USEFUL LINKS: --- - [FAQs](https://www.theinvestorsedge.com/faq) - [Areas Served](https://www.theinvestorsedge.com/areas-served) - [Terms of Use](https://www.theinvestorsedge.com/terms-of-use) - [Privacy Policy](https://www.theinvestorsedge.com/terms-of-use/privacy-policy) - [AI Info](https://www.theinvestorsedge.com/ai-info-page) OTHER RESOURCES --- - [Referral Program](https://www.theinvestorsedge.com/referrals) - [Become A Hard Money Lender](https://www.theinvestorsedge.com/become-a-hard-money-lender) - [Careers](https://www.theinvestorsedge.com/careers) - [Member Login](https://app.theinvestorsedge.com/authentication/login) - [Contact Us](https://www.theinvestorsedge.com/contact) [![New-InvestorsEdgeLogo-ForDark-257x100](https://23711988.fs1.hubspotusercontent-na1.net/hub/23711988/hubfs/A%20-%20Logos/New%20Logo/New-InvestorsEdgeLogo-ForDark-257x100.png?width=150&name=New-InvestorsEdgeLogo-ForDark-257x100.png)](https://www.theinvestorsedge.com) Keep the conversation going. Connect with us on Social Media: Copyright © 2025 TheInvestorsEdge.com All Rights Reserved ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "abstract" : "One of the biggest mistakes people make when first starting out is focusing on the money rather than the people… but what they often don’t realize is that if you value relationships over income, business is unlimited! When you build your job around the people who like and love you, they’ll provide for your business in both the short term and the long term. That is the lesson that today’s podcast guest, Ricky Carruth, is here to teach us!", "author" : { "@type" : "Person", "name" : "Ryan G. Wright" }, "dateModified" : "", "datePublished" : "", "headline" : "From Living in a Car to Seven Figures with Ricky Carruth", "image" : "https://23711988.fs1.hubspotusercontent-na1.net/hubfs/23711988/Blog%20Media/SevenFigures.jpg", "inLanguage" : "en", "keywords" : "[Income Hacker - Podcast Episodes, Freedom, Income, Investor, Wholesaling]", "mainEntityOfPage" : { "@type" : "WebPage" }, "name" : "From Living in a Car to Seven Figures with Ricky Carruth", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://23711988.fs1.hubspotusercontent-na1.net/hubfs/23711988/Logos/New%20Logo/New-TheInvestorsEdgeLogo-ForLight-257x100-1.png" }, "name" : "The Investor's Edge" }, "text" : "Listen to Episode 20: One of the biggest mistakes people make when first starting out is focusing on the money rather than the people… but what they often don’t realize is that if you value relationships over income, business is unlimited! When you build your job around the people who like and love you, they’ll provide for your business in both the short term and the long term. That is the lesson that today’s podcast guest, Ricky Carruth, is here to teach us! Ricky Carruth has built an incredible real estate business based on the core values of creating strong relationships and being a servant to others. Now, he wants to give back to the real estate community by helping new and experienced agents who want to take their business to the next level and beyond. Ricky is a hard worker, and the first completely-free real estate coach on From Zero to Diamond, a coaching company created to help agents differently by sharing a highly unique low-pressure approach. He is also an author and has been named the #1 RE/MAX agent in the state of Alabama on two occasions. In this episode, Ricky will show you how to increase your personal income based on production, while setting long term investments that work as your foundation and provide sources of passive income. He will also let you in on his personal story that drove him to ground zero during the financial crisis of 2008, and led him into the ethos with which he carries business ever since: “relationships over transactions”. Ricky will share with you the biggest mistakes to avoid when first starting out in the pursuit of instant success. “How can we be in a position where we can have unlimited income based on our production, that’s what real estate is. Having your real estate license it’s hard to get started, but it’s so worth it. If you put the work in and you’re committed, you can create an income like I have, 7 figure. And you can have disposable income to invest the way that you want to invest and then, you can take your life to another level. So I would say, long-term investing before short-term investing and work on just everyday just trying to get a little better to increase your personal income.” - Ricky Carruth Podcast summary: (03:13) - A bit about Ricky and his background growing up in Alabama, and his mission to reduce the failure rate, one agent at a time! (07:01) - How winners make it happen, and why tenacity is key on your way to success. (10:35) - His first income hack, and his hard-work mentality. (13:23) - Why working hard is not enough and how adapting to the market and trying to figure out what works and what doesn’t is just as important. (15:03) - Concentrating on the relationships (the beginning) and not the money (the end), and how being people first will bring you unlimited business. (18:55) - His biggest income mistake, and why getting too much in debt while searching for easy gains is not the right approach. (19:54) - Why long-term approach to prospecting will get you short and long term business, and how to win long and short. (21:27) - How to mitigate the risk when investing in flix-and-flip properties, and the power of disposable income. (25:03) - How to get ahead, move quickly and sell a house at the best price when the market changes. (28:33) - His biggest Income Hack Success, and how he turned his life around during the foreclosure era, from living in a car on his way to seven figures. (33:34) - His advice on starting your financial journey from ground zero. (37:19) - The right mindset to keep when becoming a real estate agent, and why YOU are only 90 days away from your first paycheck. Connect with Ricky Zero to Diamond YouTube Want to learn more? Join Ryan on our next webinar to learn how you can start real estate investing with The Investor's Edge.", "url" : "https://www.theinvestorsedge.com/incomehacker/from-living-in-a-car-to-seven-figures-with-ricky-carruth", "wordCount" : "1369" } ``` ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Ryan G. 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In 2023, DoHardMoney.com was rebranded to TheInvestorsEdge.com. The company had outgrown hard money lending alone, since it now offers educational courses, proprietary deal-finding software, and expert support in addition to funding." }, "name" : "Is DoHardMoney.com the same as TheInvestorsEdge.com?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "No. The education, software, funding, and systems are built to walk a member through their first flip with no prior experience." }, "name" : "Do I need experience in real estate investing to work with The Investor's Edge?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "The Investor's Edge recommends having around $10,000 or more for flexibility in closing deals. Deals with substantial equity can qualify for up to 100% funding, meaning qualifying deals can close with $0 in closing costs. The Find-Fund-Flip system also teaches additional ways to close with less than $8,000 of the member's own money." }, "name" : "How much money do I need to get started?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "Traditional lenders evaluate the borrower's credit, income, and debt. The Investor's Edge evaluates the deal itself, lends against After Repair Value (ARV), funds faster, and works with rundown properties that conventional loans won't touch. Funding is equity-based and structured as a joint venture." }, "name" : "How is The Investor's Edge funding different from a bank loan?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "The Investor's Edge serves real estate investors in 45 of 50 U.S. states, with custom funding terms by region. Membership is not currently offered in California, Nevada, Utah, Alaska, or Hawaii due to legal constraints." }, "name" : "What areas does The Investor's Edge serve?" } ] } ```