Real Estate Investing with RealDealCrew

Welcome to another episode of the REI Mastermind Network! In today's episode, host Jack Hoss is joined by the inspiring Jorge Contreras, a successful entrepreneur and real estate investor. Their conversation dives deep into the power of mentorship and how it can impact our lives and businesses. Jorge shares personal stories of his challenging upbringing and how he overcame limiting beliefs to achieve success. He also reveals his strategies for building a highly efficient and semi-passive business in the vacation rental industry. From communication systems to team building and pricing models, Jorge provides valuable insights and practical tips that can elevate your real estate game. So, grab your notepads and get ready to take your business to the next level with this enlightening episode of the REI Mastermind Network!

Connect with Jorge Contreras: @TheJorgeContreras on Instagram

Key Topics and Bullets:

The importance and challenges of mentorship

• Some people don't see the value in mentorship
• Speaker notices a mom and daughter duo not taking their mentorship event seriously
• Some people pay for mentorship but fail to take action or value what they learn
• Speaker personally values mentorship and learns something positive from every experience

The Jorge's background and personal growth journey

• Growing up in a household with two Mexican immigrant parents involved in illegal activities
• Facing challenges and limiting beliefs about relationships, business, and trust
• Realizing the need for personal development, mentorship, and therapy
• Learning to take responsibility for applying mentorship learnings to all areas of life

Overcoming limiting beliefs in business

• Two limiting beliefs creating a bottleneck in hiring and delegation
• Many people become entrepreneurs but end up working long hours and becoming slaves to their businesses
• The value of learning from millionaires and attending trainings with Tony Robbins
• Overcoming limiting beliefs and implementing new strategies for business success

Building a team and creating a semi-passive business

• The intensive nature of the Airbnb business and the need for systems and processes
• Building a team with cleaners, maintenance personnel, and a communications coordinator
• Streamlining communication through tools like Slack and property-specific channels
• Fostering a culture of communication and delegation among team members
• Involvement in major issues only, while team members handle day-to-day tasks

Hiring, probation periods, and building a reliable team

• Using social media and online platforms to source for team members
• Choosing individuals over large cleaning companies for cost-saving and consistency
• Implementing a probation period to ensure a good fit
• Belief in finding great people and continuing hiring until the right ones are found
• Retaining team members for long periods of time

Pricing models and amenities for vacation rentals

• Basing rates on fair market rent and aiming for 10% of fair market rent as a nightly rate
• Breaking even at 10 nights, doubling rent at 20 nights, and tripling at 30 nights
• Providing accommodations for 10 people with better experiences at a fraction of hotel costs
• Offering the most and best amenities to attract bookings and generate revenue
• Converting garages into game rooms for enhanced staycation experiences
• Utilizing professional real estate photographers for marketing visuals

Leveraging assets and the concept of good debt

• Learning about leveraging assets from a mentor and shifting mindset
• Increase in net worth within two years due to leveraging and investment in cash flow assets
• Moving away from a Dave Ramsey mentality of avoiding debt to using leverage strategically

The speaker's business model and location strategies

• Purchasing single-family homes meeting specific criteria
• Prioritizing properties with pools, game rooms, and above-ground Jacuzzis
• Meeting the demand for staycations and offering a great experience within the home
• Acquiring short-term rentals near downtown areas with convention centers, events, and weddings
• Selecting properties within 1 to 3 miles of downtown for maximum success.

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SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Joe DeSanto is a fractional CFO who specializes in providing part-time CFO services to businesses. He has a background in owning larger businesses in the production and post-production space in Los Angeles. Joe and his wife decided to make a change in their lives after having a child, and they moved to Florida. With their savings from real estate investing and other market investments, Joe was able to work part-time and supplement their passive income. His financial independence and early retirement mindset led him to consider himself semi-retired. However, his expertise in finance and managing businesses led to his former partners asking him to continue handling their finances as a consultant. This led to other business owners reaching out to Joe, realizing the need for a part-time CFO who could provide the same level of expertise at a more affordable cost. Joe enjoys working with his clients and helping them understand the importance of running their personal finances like a business. He started a blog to communicate his knowledge to individuals who may not be able to afford a CFO but still want guidance in managing their finances. Through his blog, Joe offers free information and courses, as well as one-on-one coaching sessions. His goal is to help individuals gain good planning skills for their own future at a reasonable cost. Overall, Joe's focus is on helping businesses and individuals achieve financial success and improve their overall financial well-being.

Connect with Joe DiSanto: https://www.playlouder.com/

Key Topics & Bullets:

Primary Topic 1: Real Estate Investment and Risk

• Almost making a real estate investment in Nashville for short-term rentals
• Property was subject to a lawsuit due to owner renting without a license
• Canceling the contract and getting money back
• Lesson learned: Avoid risky or uncertain ventures
• Importance of compound annual growth in real estate investments

Primary Topic 2: Taking Control of Financial Planning

• Taking control instead of relying solely on the financial industry
• Personal investment strategy: diversifying portfolio between real estate, syndications, cryptocurrency, and stock market
• Adjusting asset allocation based on market conditions and personal circumstances
• Exploring other investment products like life insurance
• Creating a new asset allocation plan
• Importance of educating clients about different investment options and savings

Primary Topic 3: Financial Support and Advising

• The speaker's role as a financial therapist
• Assisting with money management and avoiding mistakes
• Helping businesses with employee management
• Assisting clients with organization and identifying areas of improvement
• Advising clients to raise their prices, resulting in positive outcomes
• Acting as a fractional CFO

Primary Topic 4: Financial Services for Businesses

• Speaker's background in owning businesses in production and post-production space
• Transition to offering financial services as a consultant and part-time CFO
• Passion for finance and running personal finances like a business
• Offering coaching and courses on financial planning
• Mission to help individuals manage their personal finances like a business and achieve financial independence

Primary Topic 5: Analyzing Real Estate Investments

• Importance of analyzing the financials of real estate investments
• Factors to consider: cash flow, appreciation, CapEx, and tax implications
• The current market is not favorable
• The significance of time and tax efficiency in real estate holdings
• Depreciation's impact on other income, requiring careful analysis

Primary Topic 6: Getting Help with Personal and Business Financial Goals

• Neglecting planning in personal and business finances due to time constraints
• Seeking help for both personal and business financial goals
• Determining long-term goals, such as retirement destinations and desired lifestyles
• Real estate as an investment option compared to the stock market

Primary Topic 7: CFO Perspectives and Experience

• Traditional CFOs and their background in accounting and certification
• Importance of a CFO candidate with business ownership experience
• Speaker's experience as a business owner and guidance on broader business owner tasks
• Importance of bookkeeping, emergency planning, and managing credit and financing

Primary Topic 8: Personal Finance Fees and Tracking Income/Expenses

• Treating personal finances like a business
• Tracking income and expenses like a business
• Importance of profit and loss statements (P&L)
• Understanding the impact of compound annual growth rate on financial goals
• Importance of investing and not solely relying on financial advisors or index funds

Primary Topic 9: Real Estate Investment Analysis

• Speaker's course with three pillars, including real estate analysis
• Detailed sheet for real estate analysis with various metrics
• Mapping out returns on an annual basis for 30 years
• Visualizing property performance over time.

LIKE • SHARE • JOIN • REVIEW

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SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Welcome back to another episode of the REI Mastermind Network! I'm your host, Jack Hoss, and today we have a fantastic guest joining us - the incredible Ace Hagerty. This episode is filled with wisdom and insights about the power of finding the right people for your real estate team.

Ace shares their journey of building a successful real estate business, emphasizing the importance of having the right individuals in the right roles. From an amazing assistant who keeps their life organized to skilled project managers who ensure everything runs smoothly, Ace knows the value of a strong team.

We dive deep into Ace's experiences in flipping houses, turnkey rentals, and ground-up developments. They share inspiring stories of turning run-down properties into beautiful units, increasing cash flow, and achieving substantial profits. But it's not all smooth sailing - Ace also reveals the mistakes they've made and the lessons they've learned along the way.

Plus, Ace opens up about their personal transformation during a 100-day challenge, which led to the creation of an empowering book. We'll discuss the importance of maximizing our skills, setting clear goals, and focusing on specific niches. And let's not forget, Ace is also committed to making a difference in the world by supporting a nonprofit organization, Operation Rescue Children.

Get ready for a jam-packed episode filled with real estate insights, personal growth inspiration, and valuable advice on building the right team. So, grab your notepad, sit back, and let's dive right into today's episode with the incredible Ace Hagerty!

Connect with Ace Hagerty: SuperHerobyDesign.com

Key Topics and Bullets:

Importance of Finding the Right People for Your Team

• Role of an amazing assistant in organizing life and handling bookkeeping
• Importance of having the right people in the right positions
• Negative impact of a project manager who wasn't a good fit

Book Recommendation - "Who Not How"

• The book emphasizes the importance of finding the right people for success

Real Estate Investing Journey

• Success and profit from a quick rehab on a property
• Exploration of different real estate strategies
• Turning a run-down property into beautiful units for increased cash flow
• Transition to a turnkey rental business and ground-up development

Learning from Failures and Mistakes

• Mistakes made when flipping houses in Nashville
• Loss of significant money on a flip due to wrong contractor and lack of oversight
• Realization of the importance of sticking to prices and effective communication

Overcoming Challenges in Real Estate Investments

• Challenges posed by COVID-19
• Current success despite difficult times
• Smart pricing strategies in the face of a high-interest loan market
• Comparison with a nearby developer who had to drop prices and lose money

Focus and Setting Clear Goals

• Importance of focus in achieving financial freedom
• Determining a niche and type of real estate investing
• Need for creativity and standing out from the mainstream
• Achieving goals faster through specific targeting

Real Estate Investing Journey - Finding Strengths and Partnering

• Finding strengths in construction and fixing issues in the field
• Need to find people who are proficient in sales and marketing
• Development partner focused on finding deals and selling
• Speaker focuses on their strengths and responsibilities

Making a Meaningful Change and Giving Back

• Support of Operation Rescue Children, a nonprofit organization combatting illegal sex trafficking
• Efforts to rescue slaves, provide help, and assist in reintegration
• Desire to make a change and give back to society through book sales

Current Real Estate Market Conditions

• High-interest rates causing a slowdown in the housing market
• Panic-driven price drops and fire sales
• Holding firm on prices and betting on the quality of the product
• Successful sales and contracts for full asking price

Personal Growth and Empowerment

• Writing a book as a personal growth journey, not just for publication
• Love for comic books and belief in everyone's inner superhero
• Experiences during a 100-day challenge, including extreme activities
• Lifestyle changes and realization of the power of the nervous system
• Book providing personal tools and principles for transformation
• Motivation behind the podcast and sharing inspiring stories

Jordan Berry is a former pastor who made a bold decision to step away from his vocation after 15 years to seek a different path. Unsure of what to do next, Jordan and his family had the idea to rent out their house in Southern California and use the money to buy a condo in Hawaii. However, Jordan's wife had a different proposition – buying a laundromat instead. Intrigued by the concept of generating income that wasn't tied to their time, Jordan and his wife took the plunge and became laundromat owners. Although not entirely passive, the business offered a level of flexibility and potential returns that intrigued them. This unexpected leap into the laundromat business would mark a significant turning point in Jordan's professional journey.

Connect with Jordan Berry: https://www.laundromatresource.com/

Key Topics and Bullets:

Financing options for laundromats

• Manufacturers and independent lenders offer financing options
• Equipment financing may offer 100% financing with down payment requirements
• Traditional financing for real estate requires higher down payments
• SBA options available, but qualifying can be challenging
• Seller financing is common due to difficulty in securing traditional financing
• Limited or inaccurate financial records can affect securing financing

Different business models for laundromats

• Self-serve, service-side, and pickup and delivery models
• Pickup and delivery services gaining popularity during COVID
• Location important for self-serve laundromats
• Self-serve targets renters with below median income
• Service-side caters to customers with above median income

Debate on replacing machines in the industry

• Some see keeping old machines as a badge of honor
• Others believe in replacing for efficiency and customer satisfaction
• Speaker suggests replacing around the 15-year mark
• Benefits of replacing include decreased repair costs, lower utility costs, and increased efficiency
• Shiny new machines attract more customers and allow for higher prices

Rehabbing and marketing a rundown laundromat

• Speaker chose not to sell but invested in new machines and rehabbed space
• Rehabbing reputation proved more challenging than renovating the physical space
• Marketing strategies used include flyers, Google ads, and Facebook ads
• Suggestion of organizing a wow event or grand opening to draw attention

Importance of location, lease, and deal analysis

• Location crucial and difficult to move once established
• Good lease necessary to avoid business failure
• Analyzing the deal and knowing what you're buying is key

Tracking income and expenses in cash-based business

• Laundromats mainly cash-based, making tracking challenging
• Knowledge of tips and tricks necessary for accurate assessment

LA's competitive laundromat market

• Laundromat industry historically lacked advertising
• More owners realizing the importance of customer care and promotion
• Negative industry image due to frequent breakdowns and poor experiences

Focusing on customer satisfaction and profitability

• Convenience crucial for customers, but potential for expansion in competitive areas
• Opportunities for profitability by filling gaps and providing better experiences
• Basics of cleanliness, working machines, friendly attendants, and full coin changers important
• Loyalty incentives, promotions, and positive atmosphere enhance the experience

The misconception of laundromats as passive businesses

• Disagreement with belief that laundromats require little effort from the owner
• Acknowledgment of high returns and cash flow with relatively less work
• Dealing with customers and maintaining machines can be demanding
• Proper management can make the business more passive as it scales

LIKE • SHARE • JOIN • REVIEW

• Website
• Join the REI Mastermind Network on Locals!
• Apple Podcasts
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SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

• Leveraging social media and joining REI meetup groups and mastermind groups
• Building a list of team members including agents, lenders, property management, and loan officers
• Presenting oneself seriously and being genuine on social media
• Establishing credibility by getting on the phone with people quickly and introducing oneself as a real investor
• Organic growth of team building efforts and being authentic about current status and goals
• Some people taking time to believe in the speaker, but maintaining communication with them
• Focusing on cash flow and buy and hold strategy from the beginning
• Seeking a stream of income that can replace job income
• Success with the buy rehab rent, refinance, and repeat (BURR) strategy
• Scaling portfolio in single-family and small multifamily properties
• Spouse becoming overwhelmed as portfolio grew
• Applying expertise in other areas and gaining confidence from experience
• Expanding into commercial real estate investing, specifically in retail, strip malls, office space, and medical space
• Applying same strategy but on a larger scale in commercial properties
• Discussing different types of commercial properties owned, including an office, a medical facility, a government building, and a mixed-use space
• Contrasting commercial properties with residential properties in terms of evaluation and return on investment
• Starting with inner circle and having conversations with people they trust
• Receiving honest feedback from family and friends and shifting focus to what's in it for others
• Overcoming initial perception of being a salesman and emphasizing benefits for others
• Belief that they needed to work long hours to deserve income, but shifting mindset to prioritize productivity
• Mentoring from someone with experience helping change mindset and focus on productivity
• Having more time to spend with family after shift in mindset
• Finding dealing with businesses and commercial entities intimidating, particularly technical aspects such as leases
• Need for legal assistance due to lack of standardization in commercial leases
• Focus on acquisition of commercial properties, leaving spouse to handle legal aspects
• Importance of team consisting of acquisition agents, property managers, contractors, lenders, and potentially other licensed agents
• Initial skepticism and disbelief from family about venturing into real estate
• Family's confusion about leaving stable job at UPS and pursuing something different
• Threats of disownment from close family members
• Eventually convincing family members through persistence and success
• Attempts at other business ventures such as car detailing, yard work, landscaping, and selling car accessories
• Preference for authenticity and sharing where they are at rather than hiding true feelings
• Importance of following through on word, even if deals are not always the best
• Trust as a crucial aspect of business and belief in giving trust first to receive it in return
• Open conversations about what works and helping others be successful
• Frustration and unhappiness with labor-intensive job as a UPS driver
• Anxiety and fear about pursuing real estate as a replacement for income
• Trying other business ventures and eventually coming back to real estate
• Wife researching and networking in real estate industry for 9 months
• Taking a leap of faith and purchasing a property 3,000 miles away
• Realizing property was profitable and building a massive real estate portfolio
• Becoming a mentor to others and helping them start their own real estate journeys

• Website
• Join the REI Mastermind Network on Locals!
• Apple Podcasts
• Google Podcasts
• YouTube
• Spotify
• Stitcher
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• Facebook
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• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

• Introduction to the speaker and their career background
  • Starting in different fields and specializing in ADUs in North County, San Diego
  
  
• The importance of focusing on detached ADUs for efficiency and repeatability
• Building a website and brand around ADU construction in San Diego
• The benefits of specializing exclusively in ADUs for SEO and brand recognition
• The fear and joy of missing out (Jomo) when turning away complex or unrelated jobs
• The importance of carefully considering software decisions
  • Software decisions as one-way gates for at least a couple of years
  
  

• Evaluating HubSpot and Pipedrive as potential software options
• Rapid growth in terms of the number and size of ADUs built
• Specializing in larger ADUs to increase average contract size
• Achieving higher revenue with improved efficiency and reduced overhead
• Current workload of building around 4 ADUs per month
• The benefits of specialization and continuous learning in becoming more efficient
• Becoming more vertically integrated by taking design and permitting in-house
• Increased control and consistency in work through these changes
• Importance of role definition in a startup environment and empowering employees to make decisions
• Working on providing clarity for everyone's roles and responsibilities
• Plans to create role descriptions and organizational charts in 2023
• Importance of clear hierarchy and decision-making process for employee empowerment
• Speaker's experience in house flips and utilizing Builder Trend project management system
• Introduction to ADUs and California regulations
• Speaker's company specializing exclusively in standalone ADUs
• Company growth and hiring sales, marketing, and pre-construction teams
• Adoption of assembly line approach and segmenting construction tasks
• Benefits of thinking differently and implementing a series approach to increase efficiency
• Onboarding new hires to fit into the evolved system
• Three indispensable tools for their work environment: Zoom, builder trend, and Asana
• The value of focusing on the basics and consistency for success
• Overcoming initial hesitation and starting the ADU business during the pandemic
• Utilizing remote site assessments and technology for streamlined operations
• Decision to stay fully remote and leverage technology for operations

• Website
• Join the REI Mastermind Network on Locals!
• Apple Podcasts
• Google Podcasts
• YouTube
• Spotify
• Stitcher
• Deezer
• Facebook
• Twitter
• Instagram

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

• Importance of understanding the buyer's process in real estate deals
  • Focusing solely on sellers can result in wasted money
  
  
• Personal experience investing in mailers in Utah
  • Spent $10,000 to $15,000
  • Received 20 calls but didn't close a deal
  
  
• Reliance on virtual assistants (VAs) and sourcing deals on Zillow and MLS
  • Two VAs finding deals
  
  
• Networking with agents and occasionally finding deals through for sale by owner situations
• Relying on wholesalers in Utah to find buyers
  • Negotiating their fee in between
  
  
• Getting leads from sources like HomeLight and other outreach efforts
• Encouraging listeners to visit investorthrive.com
• Learning the tactic of not taking no for an answer from sales and cold calling experience
• Preparing for rejection in real estate wholesaling business
• Realizing skills from door-to-door sales don't directly translate to real estate sales
• Mind map on website explaining the process of reverse painless wholesaling
  • Step 4: Finding the buyer's criteria or buy box
  
  
• Using a script to contact buyers and track criteria using Google Forms and a spreadsheet
• Five years of experience in the business, now training others
• Shifted approach due to market changes
  • Trimming down to a few people
  • Looking for deals on MLS
  • Making 99% profit themselves
  
  
• Advising finding buyers first before searching for deals
  • Finding 10 to 15 solid buyers with cash and no market concerns
  
  
• Building relationships with buyers to ensure deals are pre-sold
• Lesson learned from buying a property with squatter issues
• Hiring virtual assistants: initially hiring low-priced VAs, then shifting to higher-priced, more talented VAs
• Strategy of making potential clients or sellers feel like they're not the best option, but still an option
• Dislike for convincing people and preference for working with those who genuinely want to work with them
• Strong relationship with virtual assistants, treating them like employees
• Shifted focus to "painless wholesaling" and helping others find buyers in different locations
• Negotiating deals and sellers becoming more motivated to accept solid offers

• Website
• Join the REI Mastermind Network on Locals!
• Apple Podcasts
• Google Podcasts
• YouTube
• Spotify
• Stitcher
• Deezer
• Facebook
• Twitter
• Instagram

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

• Meeting the President
• Getting a baseball signed by the Pope
• Carrying the Olympic torch
• Receiving a Super Bowl ring
• Auditioning for Saturday Night Live
• Running the Marine Corps marathon despite not being an athlete

• Redefining "schmooze" as a genuine and meaningful way to connect with others
• Emphasizing the importance of personal connections, communication, and building relationships
• Importance of reaching out and making a difference in the lives of those less fortunate
• Encouraging listeners to download the book for the audio version
• Endorsement of the book, comparing it to Dale Carnegie's work
• Easy, funny, and inspirational nature of the book, suitable for everyone including those with a limited vocabulary
• Keynote speech given to an investment group in Orlando, focusing on building relationships and trust in business
• Personal story about winning a multi-million dollar account by building relationships with Toyota dealers
• Importance of researching and knowing about potential clients before meeting them, showing genuine interest in their background
• Value of transparency, trustworthiness, and never letting clients down
• Introduction of Cody Lowry, the "king of Schmoozing"
• Speaker's childhood experience of going from riches to rags, moving frequently
• Lessons learned about hard work, building relationships, and having fun while selling newspapers
• Emphasizing kindness and reaching out to others in need
• Personal story about resilience and perseverance learned from a customer encounter
• Speaker's belief that everyone faces adversity in life, and that failure and success can be temporary
• Mistake of entering into a 50/50 partnership in business
• Advising people to have a 51% or 49% ownership in a partnership for clear positioning
• Discomfort with giving someone else an equal share of profits while bringing in the majority
• Discussion on the difficulty of selling newspapers at the end of day 23
• Belief that unless there is a complete collapse, people in business can have a better year
• Importance of working hard and working smart for success
• Success stories of individuals who attribute their success to both hard work and smart work
• Speaker's experiences as a stand-up comedian and pursuing their goals with persistence
• Story of auditioning for Saturday Night Live and the pursuit of acting
• Value of family and joy derived from grandchildren
• Advice to be more serious in life, reflecting on past experiences of not taking things seriously
• Regret about not being more serious earlier in academic journey
• Emphasis on the importance of likability and familiarity in doing business
• Making a good first impression and engaging in small talk for successful business interactions, referencing Elon Musk's views.

• Website
• Join the REI Mastermind Network on Locals!
• Apple Podcasts
• Google Podcasts
• YouTube
• Spotify
• Stitcher
• Deezer
• Facebook
• Twitter
• Instagram

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

• Website
• Join the REI Mastermind Network on Locals!
• Apple Podcasts
• Google Podcasts
• YouTube
• Spotify
• Stitcher
• Deezer
• Facebook
• Twitter
• Instagram

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

• Website
• Join the REI Mastermind Network on Locals!
• Apple Podcasts
• Google Podcasts
• YouTube
• Spotify
• Stitcher
• Deezer
• Facebook
• Twitter
• Instagram

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729