Building a business should give you freedom you didn’t have before. How can you make sure you’re building effectively? What steps can you take to protect yourself from failure? On this episode, IQ Real Estate Investing CEO, Javier Hinojo, shares the steps he’s taken and how they’ve helped him along his journey.

3 Things We Learned From Javier Hinojo

Be persistent

Never give up or allow yourself to stop trying. You have to keep pushing through all the challenges thrown your way. Giving up shouldn’t be an option. Remember, the harder you work, the luckier you’ll get.

Always be ready to fire yourself

Leveraging other people’s time and resources is vital if you want to grow your business. Aim to work as little as possible by setting up systems and teams that don’t take up too much of your time.

Look for the downside

We’re constantly reminded to stay positive and look at the bright side, but there are times to consider the opposite. Look for all the things that could go wrong and protect yourself accordingly. Assume that things could go sideways and keep 10% of all your deals saved.

While you need to work consistently and focus on the process, remember that you’re in pursuit of freedom. You need to be able to step out of what you’ve built at some point, without your business falling apart. Be ready to fire yourself and have a backup plan in the event that deals don’t work out. Keep your processes and approaches simple.

Guest Bio- 

Javier Hinojo is the CEO of  IQ Real Estate Investing, LLC. After working as a licensed locksmith for years, Javier decided to enter the world of real estate investing in 2015. For the first three years in real estate investing, Javier saw poor results and at one point had to ask his children to help him pay his rent. Despite this hardship, in 2018 he joined the REI Vault and has seen his success skyrocket. 

To find out more about Javier, head to: https://www.linkedin.com/in/javier-hinojo-80882472/

While everyone wants to be successful, most of the time what holds us back is our fear that we don’t have enough time or money to get started. How can you overcome that belief? How can you become your own bank?

On this episode, I’m speaking to co-founder and CEO of FlipOut Academy and Money School, author and fellow podcaster, Chris Naugle about how to access money as an investor.

3 Things We Learned From Chris Naugle

• After years of favorable market conditions, we need to start preparing for an inevitable shift. The shift coming will have the ability to hurt a lot of businesses, so it’s best to start preparing for it now. Raise money to protect yourself now, so you have it before you need it.
• The best place you can invest is in real estate. This is because, even if the market crashes, real estate cannot go to zero. Even in the event of a natural disaster, insurance will cover it. Invest in real estate to ensure you have an asset to sell if and when you need to.
• Alongside time, one of the biggest things holding people back from achieving their dreams is money. However, the reality is there is so much money available. This is especially true in the case of retirement funds. Stop believing there is a limitation- you just need to look in the right places.

Most of what we know about money is taught to us by banks themselves. Obviously, this benefits the most powerful financial institutions. It’s important to educate ourselves so that we can become our own banks, for ourselves and for friends and family. Let them know they need to invest in real estate, and that there is an abundance of money, as long as we go looking for it.

To build an empire, your business needs to dominate more than one location. Is it possible to do that without physically being in the markets you expand into? How would it affect your current marketing strategy?

On this episode, Raphael Vargas of Ace Equity Pros and Ace Estates Group is here to share how he’s managed to dominate multiple markets.

3 Things We Learned From Raphael Vargas

• By virtually operating certain parts of your business, and contracting local agents to do checks on listings, you don’t need to be physically present in every one of your markets. There is so much technology at your disposal that make remote operations possible.
• If you’re signing deals in another market, there is always a risk that you might miss something that would have made you second guess the decision. Make sure your clients know this from the start. This way, you safeguard your business without your integrity coming into question.
• You don’t need a massive campaign to dominate multiple markets. All you need is a basic strategy that will work in all your markets. You’re not doing any more work than is needed: you’re simply using the same content over and over again.

With phenomenal communications tools at your disposal, it’s now easier than ever before to do business in multiple locations at once. While your locations may be different, the great thing is you don’t even need to change your marketing strategies. So much stays the same- including the need for you to build great relationships with your clients.

One of the biggest issues in real estate entrepreneurship is that most of us end up turning it into a full-time job, despite getting into the business for passive income and freedom. How do we stop this from happening? Why is it so necessary to have a plan in place? On this episode, author of The Time-Wealthy Investor, Mark Dolfini, shares why time is the most precious resource we have, and how to give ourselves more of it.

3 Things We Learned

Having a good work ethic doesn’t mean you need to do all the work

Don’t fall into the trap of thinking you need to be constantly working. Putting in more hours than you’re able to does more than waste your time: it can have a devastating effect on your physical health. Make sure you’re taking time for yourself to recover. It’s not a luxury, it’s a necessity.

Find a coach

Coaching is key. Think of your business as you would a family member- you know you love them, but may not be able to express why. You need an outside perspective; someone who can help you find out why you feel a certain way about your business. Doing this will strengthen your commitment.

Vision is vital

Having a vision for your business and your future is crucial. Without a roadmap, you’re not going to get anywhere. Make sure you know where you’re going, and have a plan for how to get there. By having a vision, you’ll also find it easier to manage your time.

When you care deeply about your business, it’s normal to want to put a lot of work into it. However, remember that your life revolves around more than your source of income. Make sure you’re setting aside time for yourself to focus on what truly matters to you. Understand why you love your business, but also be conscious of the fact that time is finite. It’s not enough to be financially wealthy: you need to be time-wealthy to be truly free.

The real estate industry is set to undergo changes as a result of market shifts and new approaches to marketing. How can you stay ahead of the curb? What parts of your marketing strategy should you be adapting? In this episode, Justin Colby shares why you need to be relentless in your approach.

• While we’re not necessarily headed for a recession or a financial crisis, be aware that the market is changing. Buyers are becoming more finicky, and the market has stopped appreciating.
• Make sure you’re approaching clients from multiple platforms. By having a diverse strategy, you’ll be able to surround your client with your message.
• Even when clients don’t seem happy with an offer, send it to them. By doing this, you have a guarantee of further communication.

Cold calling is vital if you want to be successful in real estate. How can you prepare yourself for making the calls? What important things do you need to remember when you’re cold calling?

In this episode, I talk with real estate coach Brent Daniels to hear his advice for making cold calls.

3 Things We Learned From Brent Daniels

• When cold calling, you’ll notice there are 6 general answers you’ll receive: yes, no, maybe in the future, how much will you give me?, how did you get my number?, and who are you? If you can be prepared with an answer for each of these, you’ll be on the right track.
• Going into something like cold calls unprepared is like trying to find a million dollars while blindfolded. Find someone who can guide you, and make sure you’re executing cold calls effectively.
• If you’re cold calling, you need to make sure you’re doing it the right way. Your conversations have to be high-quality to be effective. Ensure you have a good script and that you’re having conversations with prospective clients, not interrogating them.

Cold calling is important in the real estate industry, and typically the agents who make use of effective cold calling are seeing amazing results. While the process can seem daunting, remember that real estate is intrinsically linked to human interaction. Remove the mystique of having effective conversations, and you’re halfway there.

When you’re running a business and it feels like it’s just chaotic and overwhelming, it’s time to take a long hard look at the culture and change it. What are some of the characteristics that define a high-performing, well-run team? What are the changes you need to implement in your team, and the things everyone needs to be clear on?

On this episode, my excellent operations specialist, Julia Jordan, and I continue our discussion about how to build the culture, team, and accountability to scale up a business.

3 Things You'll Learn:

• Decide what you want to achieve over a 3 or 5 year period. You can also break it down even further and think about what you want to have achieved a year from today. When you give yourself time parameters, you get a clearer idea of what you need to be achieving on a monthly and weekly basis.

• As a business owner, you need to have a very clear vision of who you are and what you want to achieve. Without this clarity, you’ll be more likely to miss targets and your business will falter. Be clear from the start and reflect on your vision regularly.

• The best way to build a great company culture is by regularly checking in on your team members. Even if your team is comprised of remote members, schedule a call that includes everyone. It’s much easier to work in harmony with people you know and who take an interest in you.

To have a great team, you need to have great communication. Make sure you’re on the same page with your team in terms of values, goals and even their personal lives. Never allow your business to falter simply because not everyone is on the same page. Be clear, communicate, and you’ll see great results.

When you’re running a business and it feels like it’s just chaotic and overwhelming, it’s time to take a long hard look at the culture and change it. What are some of the characteristics that define a high-performing, well-run team? What are the changes you need to implement in your team, and the things everyone needs to be clear on?

On this episode, I talk with my excellent operations specialist, Julia Jordan, about how to build a great culture, team, and accountability to scale up a business.

3 Things You'll Learn:

• You should never have to push the vision, mission, direction and measurables of a team on them. It should be the natural outcome of you doing what you’re supposed to, and implementing the right things.
• In a high-performing business, everyone should know that there is upside growth and opportunity in the organization, they should never feel like there’s a glass ceiling. You should always show your willingness to create opportunities for them to grow.
• A high-performing team isn’t run in an urgent sort of “house-on-fire” manner. People focus on important tasks— not urgent ones. There’s a plan and people work to it.

We’ve all heard that we need to achieve work-life balance, but that’s easier said than done. How can you create a life of balance for yourself? Can it allow you to be financially stable?

On this episode, I’m speaking to an REIvault member who has achieved great success in his full-time position in finance, as well as his secondary business in real estate.

3 Things You'll Learn:

• Time management and prioritization are key
• Your morning routine sets the tone for your day. Make the most of it
• Visualize what you want to achieve

Make sure your work fits in around your personal life— not the other way around. Prioritize and manage your time, and visualize the life you want. It’s all within your reach if you take a moment to breathe.

Many aspiring business owners have bought into the idea that they have to work around the clock to build wealth and a successful team— but that’s not the case. How can you leverage people’s time so that you don’t have to work yourself to the bone? What does it take to build a successful team and bring the right people on board? How do you keep those people engaged in the organization?

On this episode, I’m joined by Jeff Cohn, the founder of Omaha’s Elite and host of the Team Building podcast. Jeff shares how he built a strong team of loyal, hardworking, and driven people.

3 Things You'll Learn:

• As a team leader, you have two categories of “clients”: the talent you need to retain, and the clients they serve.
• You can offset your lead generation and marketing costs with money from people who work within the same real estate transaction ecosystem.
• The mindset of a true leader is to focus on the highest-value tasks and activities. For everything else, find the right people to leverage who can do those tasks.