Building Wealth From Scratch

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Links from Today’s Episode

For Public Housing Residents That Deaunna Mentioned at the beginning of the episode.

hud.gov

Special Application Center for HUD

312-353-6236

https://www.hud.gov/program_offices/public_indian_housing/centers/sac/homeownership

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Show NotesStart of the Discussion

• Opening Questions:
• Ken and Otis are asked if they have questions.
• Ken asks two questions:

1. What steps did Antonio take to build wealth and success from scratch?
2. If Antonio had to start over, what would he do differently?

Building Wealth from Scratch

• Antonio’s Approach:
• First Step: Create his own community.
• Focus: Instead of chasing huge success, focus on getting 200 people to buy from you.
• Key Lesson: The most important thing Antonio did was learn to convince 200 people that they needed what he offered.

Two Critical Actions for Success

• Action 1: Identify and find 200 people to buy from you, even without a product initially.
• Action 2: Convince those 200 people that what you offer is more valuable than what they have.
• Key Concept: The idea here is to build trading power — the buyer must want your product more than they want their money.

Mathematical Economy

• Understanding the Economy:
• 200 people create your personal economy, forming the foundation of your business.
• Purpose of 200 People: They represent a reliable source of income.

Trading Power and Economics

• Trading Power:
• The second key is making sure these 200 people believe that what you offer has greater value than their money.
• This aligns with the first rule of economics: buyers must value the product more than the money they spend.

Importance of Mentorship

• Mentorship:
• Antonio stresses the importance of having a mentor, someone who can guide you through the process of building wealth from scratch.

Achieving Six-Figure Income

• Goal with 200 People:
• The aim is to make six figures from these 200 individuals by convincing them to spend $500 each.

Mathematical Breakdown

• Revenue Calculation:
• 200 people spending $500 each = $100,000.
• The strategy is based on simple math, focusing on how much each person can contribute annually.

Real-Time Application

• Antonio’s Current Strategy:
• Every time he needs money, he creates a new product and presents it to his established community.
• Example: Stock class, credit class, and real estate class were created not because Antonio needed money but to achieve longer-term goals.

Long-Term Vision

• Building for the Future:
• Antonio explains that his real goal isn’t immediate profit but a five-year strategic plan.
• YouTube Channel: Antonio is building content to position himself for long-term growth.

Using Social Media for Influence

• YouTube Example:
• Antonio shares how deeply a past event affected him, which led to changes in his approach.
• YouTube Vlog: He highlights a real estate partnership from six years ago that laid the groundwork for his current strategies.

Recap of Key Steps

• Step 1: Build a community of 200 people.
• Step 2: Convince them that your product is worth more than their money.
• Step 3: Use these individuals to create a personal economy and generate six figures.

Explanation of Hard Money Lending

• Hard Money Lenders:
• A group of six or seven people pooled their money together to become hard money lenders.
• They have the whole county working for them, buying up real estate.
• Process: They lend money to investors like Ken, who takes on the risk of acquiring properties.
• First Lien Holders:
• As hard money lenders, they hold the first lien on properties.
• If an investor fails, the hard money lenders swoop in and take the property, capturing 100% of the profits.
• Antonio’s Revelation:
• Realized that six regular people can create significant wealth this way.
• Inspired him to blend personal finance, stocks, and real estate, aiming to replicate a similar model.

Antonio’s Long-Term Plan

• Transition to Hard Money Lending:
• Antonio is transitioning into hard money lending, with plans to step away from active work in the next 9 years.
• Goal: By the time his oldest son turns 25, Antonio plans to retire in Africa or India.
• Why Africa or India?:
• Prefers locations with favorable exchange rates: $1 equals $16 in India and $6 in West Africa.
• Plans to live off passive income, ensuring money continues to make more money without his active involvement.
• Setting Up a President to Run the Business:
• Antonio intends to appoint someone to run his business operations while he enjoys his retirement.

Financial Independence and Retirement

• Early Retirement:
• Antonio has been retired since November 27, 2011, at the age of 28 or 29.
• His current focus is on ensuring he continues living off money that makes more money.

Differentiating Between Upfront and Backend Money

• Classes and Conferences:
• The personal finance classes (stocks, real estate) are not designed for upfront income but for building long-term retirement wealth.
• Conferences for Immediate Income:
• Whenever Antonio hosts a conference, it's always about generating immediate cash flow.
• Sales Team Involvement: If the sales team is involved and given commissions (e.g., 30% for the sales team), the focus is on generating upfront revenue.
• Example:
• Antonio planned his November conference specifically to generate income for Christmas shopping.
• Pricing Strategy: The $99 ticket price aims to generate $60 profit per ticket. To reach $10,000, he plans to sell 167 tickets.

How Antonio Plans and Thinks

• Mathematical Approach:
• Antonio breaks down financial goals mathematically, ensuring every decision serves a specific financial purpose.
• Example: 167 tickets x $60 = $10,000, which will cover his Christmas expenses.

Sales and Value for Customers

• Universal Laws of Success:
• Antonio follows the principle of serving others first. By serving both the customers and the sales team, money naturally flows back to him.
• Customers receive lifetime access to conference recordings and extra bonuses, while the sales team earns a 30% commission.

Otis’ Question: Antonio’s Drive and Desire to Learn

• Ken’s Follow-Up: Ken mentions how Antonio’s sharp intellect and financial acumen seem to stem from a deep, insatiable desire to know more.
• Antonio’s Background:
• He attributes his hunger for success to his upbringing in extreme poverty.
• Survival Mindset: Antonio grew up in conditions where even basic necessities like water were scarce, which ingrained in him a relentless desire to succeed.
• Life Experience:
• Antonio sees opportunities in America differently because he was not raised with privilege.
• His appreciation for simple things like public water fountains stems from his survival experiences as a child.

Poverty and Hunger for Success

• Perspective as an "Immigrant":
• Although an American citizen, Antonio considers himself to have an immigrant mentality, viewing American opportunities with fresh eyes.
• Survival Tactics in Childhood:
• As a child, Antonio had to make a dollar stretch, often surviving on cheap snacks and public water fountains.
• This survival mindset translated into his later life, driving his ambition and success.

Conclusion

• Antonio’s Closing Thoughts:
• He closes by explaining that his drive and success come from a different place, where survival and seizing opportunities were paramount.
• His approach to wealth is a combination of mathematical strategy, a relentless work ethic, and deep gratitude for the opportunities he now has.

Motivation to Learn How to Make Money

• Survival Motivation:
• Antonio learned how to make money because the alternative was death. This intense pressure motivated him to excel.
• Incident from Six Years Ago:
• A pivotal moment occurred during an appearance on the "Beyond 8 Figures" podcast with Steve Olsher.
• Antonio felt disrespected and challenged by the hosts, especially during a 5-minute portion of the show where they questioned his financial success.
• Although the interaction was respectful, Antonio’s competitive nature took over, and he vowed never to be questioned like that again.

Antonio’s Competitive Drive

• Taking it Personally:
• Antonio internalized the challenges and turned them into fuel for his drive.
• He promised himself that he would never give anyone the chance to question him again.
• This experience led to a shift where Antonio committed to always showing his full capabilities during any interview or discussion.

Approach to Starting Over (If He Had to Start From Scratch)

• Focus on Small Monthly Income:
• Antonio’s first priority would be to find a way to make $97 per month.
• Strategy: He would use this money to cover essential tools like ClickFunnels and ChatGPT, which are crucial for setting up a business.
• Leverage Existing Audiences:
• He would partner with established figures like Grant Cardone or Gary Vee, offering to work for free in exchange for using their audience and resources to build his own list.
• Antonio would market their products but add his own funnel to build his contact list.
• Move into Cloud Infrastructure:
• After gaining momentum with sales funnels, Antonio would invest in cloud infrastructure, recognizing the importance of storing data.
• His long-term goal would be to use cloud infrastructure profits to reinvest into real estate.
• Ultimate Path:
• Sales funnels → Cloud storage → Real estate investments.

Daily Habits for Success

• Reading:
• Antonio reads 30 books a month. This includes:
• Physical books
• Audiobooks
• Podcasts
• YouTube videos
• He only reads materials relevant to overcoming his current challenges and reaching the next level.
• Podcasts:
• Antonio subscribes to podcasts like "Chat with Traders" and "The Market Huddle."
• He listens to older episodes from 2015 onwards to extract as much information as possible.

Use of ChatGPT

• 8 Hours on ChatGPT:
• Antonio spends around 8 hours a day on ChatGPT, using it as a second brain for tasks like refining his stock trading strategies and improving his knowledge.

Avoidance of Social Media

• Minimal Time on Social Media:
• Antonio spends only about 1 hour a day on social media, focusing his energy on learning and improving through podcasts, books, and ChatGPT.

Antonio’s Approach to Personal Responsibility

• Accountability:
• Antonio believes that he is responsible for where he is in life, and he does not make excuses for any lack of success.
• He constantly seeks to improve himself by reading and learning about areas where he feels he can do better.

Conclusion

• Antonio’s Daily Fight Against Poverty:
• Antonio’s morning routine is driven by a singular focus: fighting poverty.
• His habits, including reading and working out, are all designed to keep him focused on building and sustaining wealth.