In this episode, Brian Green interviews Sargis Ivanov, a CPA who shares his unique journey into the accounting profession, the growth of his family's transportation business, and his passion for real estate. Sargis discusses the challenges facing the CPA profession, the importance of mentorship, and the strategies he employs to help clients reduce their tax burdens through real estate investments. He explains key tax strategies such as the Augusta Rule, cost segregation, and 1031 exchanges, emphasizing the importance of proactive financial planning and regular consultations with a CPA.

Takeaways

• Sargis Ivanov emphasizes the importance of mentorship in his career.
• The CPA profession is facing challenges with a declining interest from younger generations.
• Real estate investment offers numerous tax benefits that can be leveraged.
• Building a clientele requires diverse marketing strategies, especially in a virtual environment.
• Understanding tax strategies is crucial for maximizing real estate investments.
• Regular consultations with a CPA can prevent costly financial mistakes.
• The Augusta Rule allows for tax deductions without reporting rental income.
• Cost segregation studies can significantly enhance tax deductions for property owners.
• 1031 exchanges provide a powerful way to defer taxes on real estate sales.
• Sargis believes in the importance of educating clients about their financial options.

Chapters

00:00 Introduction to Sargis Ivanov, CPA

03:34 The Growth of FCT Transport

06:05 Sargis's Unique Path to Accounting

08:01 Challenges Facing the CPA Profession

10:18 Starting a CPA Firm: Excitement and Challenges

12:20 Building a Clientele in a Virtual World

14:46 Niche Focus: Real Estate Accounting

17:11 Strategies for Real Estate Investment

19:33 Understanding Real Estate Professional Status

22:21 Leveraging Depreciation and Tax Strategies

26:30 Cost Segregation Explained

32:02 The Augusta Rule: A Tax Strategy

34:18 Utilizing 1031 Exchanges for Growth

37:26 Planning for Future Tax Implications

39:05 The Importance of Regular CPA Consultations

42:01 Final Thoughts on Real Estate Strategies

Summary

In this inspiring conversation, Ben Kjar shares his journey of overcoming adversity as someone born with Crozon syndrome. He discusses the pivotal role of his mother in instilling confidence and resilience, the importance of supportive relationships, and the impact of mentors in his life. Ben emphasizes the significance of accountability and planning in achieving goals, and he highlights the influence of his wife, La Cole, in his journey. The conversation culminates in a discussion about the purpose behind his film 'Stand Out', which aims to inspire others to embrace their uniqueness and overcome challenges.

Takeaways

• Ben's journey with Crozon syndrome shaped his perspective on life.
• His mother's encouragement to 'stand out' was pivotal in his development.
• Inner peace and genuine confidence are essential for fulfillment.
• Cuddling vs. coddling: tough love is necessary for growth.
• Surrounding yourself with supportive people is crucial for success.
• Accountability and planning are key to achieving goals.
• Sharing dreams with others can lead to greater accountability.
• Relationships are more important than material possessions.
• La Cole's support has been instrumental in Ben's journey.
• The film 'Stand Out' aims to inspire and change narratives.

Chapters

00:00 Introduction to Ben Kjar and His Journey

02:45 The Power of Standing Out

07:18 Lessons from Family and Parenting

13:51 The Role of Coaches and Mentors

19:58 Accountability and Planning for Success

25:13 Setting Goals and Taking Action

33:08 The Impact of Relationships

41:21 Creating a Legacy Through Film

46:08 Gratitude and Life's True Value

In this conversation, Jeremy Barker shares his incredible journey from being a firefighter to becoming a successful entrepreneur with his company, Murphy Door. He discusses the challenges he faced, including losing $20 million and living in a truck, and how he overcame fear and setbacks to build a thriving business. Jeremy emphasizes the importance of resilience, investing in oneself, and the value of patience in entrepreneurship. He also highlights the significance of believing in others and fostering a supportive environment for growth.

Takeaways

• Jeremy Barker transitioned from a firefighter to a successful entrepreneur.
• He faced significant setbacks, including losing $20 million and living in a truck.
• Overcoming fear is crucial for resilience and success.
• Living in a truck for a year helped him reflect and grow.
• He emphasizes the importance of investing every nickel back into the business.
• Patience is key; leaving profits in the business can lead to greater success.
• He believes in cheering others on and helping them succeed.
• Success should not be measured by material possessions but by achievements.
• Understanding financial literacy is essential for entrepreneurs.
• Building a business is about serving the world, not just personal gain.

Chapters

00:00 From Firefighter to Entrepreneur: The Journey Begins

12:00 Overcoming Fear: The Entrepreneurial Mindset

24:03 Living in a Truck: A Year of Reflection and Growth

29:11 Transitioning to Construction: A New Chapter

40:48 Negotiating Your Worth: The Value of Experience

41:39 Balancing Contractor Relationships and Delays

43:54 Navigating Bankruptcy and Resilience

48:55 From Firefighting to Entrepreneurship

51:59 The Journey of Product Development

55:47 Financial Discipline and Business Growth

01:00:35 The Importance of Patience and Long-Term Vision

01:05:42 Encouragement and Personal Growth

In this conversation, Lloyd Roberts shares his inspiring journey of overcoming adversity, including living with cystic fibrosis and surviving a life-threatening accident. He emphasizes the importance of mindset in achieving fulfillment and discusses his framework, G-Cubed, which focuses on gratitude, growth, and giving. Lloyd explains how to cultivate gratitude by eliminating entitlement and highlights the significance of being present in our lives. He reflects on his identity and legacy, aiming to inspire others to find fulfillment regardless of their circumstances.

Takeways

• Growth comes through overcoming struggles.
• Our circumstances don't dictate our fulfillment.
• You can become whoever you want to become.
• Entitlement is the inverse of gratitude.
• I am a spiritual being having a physical experience.
• Choose to be fulfilled now, not later.
• The pursuit of stuff does not create gratitude.
• Rotate between become and be still.
• I want to be remembered for choosing fulfillment.
• You can be fulfilled now, regardless of circumstances.

Chapters

00:00 Overcoming Adversity: Lloyd's Journey

10:09 The Framework for Success

22:20 G-Cubed: The Fulfillment Formula

23:28 The Power of Gratitude

26:50 Understanding the Mind and Its Functions

34:59 The Essence of Gratitude and Entitlement

38:59 The Journey of Growth and Fulfillment

46:21 Being Present and Leaving a Legacy

In this engaging conversation, Andrew K Smith shares his journey from tech entrepreneur to successful restaurateur, emphasizing the importance of family, resilience, and empathy in business. He discusses the challenges of scaling a business, the misconceptions surrounding the restaurant industry, and the significance of mentorship for the next generation of entrepreneurs. Andrew's insights provide valuable lessons for aspiring business owners and highlight the need for a supportive partnership in both personal and professional life.

Takeaways

• Andrew emphasizes the importance of family in entrepreneurship.
• Success is often built on hard work and overcoming failures.
• Navigating dark times requires a shift in perspective.
• Involvement in family business creates stronger bonds.
• The restaurant industry can be profitable despite common misconceptions.
• Scaling a business often leads to breaking systems and processes.
• Founders play a crucial role in the success of a brand.
• Empathy and humility are key traits for effective leadership.
• Investing in brands requires careful evaluation of founders and market trends.
• Mentorship is vital for the next generation of entrepreneurs.

Chapters

00:00 Introduction to Andrew Smith's Journey

02:40 The Evolution of an Entrepreneur

11:10 Sales Strategies and Building Relationships

14:57 Balancing Family and Entrepreneurship

21:07 Transitioning to the Restaurant Industry

28:46 Overcoming Challenges and Building a Legacy

29:35 Navigating Dark Times in Entrepreneurship

33:03 The Importance of Humility and Empathy

36:25 Scaling Challenges and Growth Pains

40:16 Raising Capital and Building a Legacy

44:46 Evaluating Brands and Market Trends

49:09 Gratitude and Mentorship in Life

In this podcast episode, Richard Wilson shares his entrepreneurial journey, emphasizing the importance of creating one's own luck through hard work and cold calling. He discusses the significance of family offices in wealth management and the value of building genuine relationships by adding value first. Richard also highlights the role of social media in growing his business and the importance of maintaining a strong family dynamic while pursuing entrepreneurial goals. He concludes with insights on the necessity of grit and focus in today's fast-paced world.

Takeaways: 

• Creating your own luck is essential for success.
• Cold calling can lead to unexpected opportunities.
• Adding value first builds trust in relationships.
• Family offices are a unique niche in wealth management.
• Grit and focus are crucial in today's society.
• Social media can amplify your reach and influence.
• Daily mindset practices can enhance productivity.
• Investing in family values is key to raising successful children.
• Being present as a parent requires intentionality.
• The support of a spouse is invaluable in entrepreneurship.

Chapters

00:00 Introduction to Richard Wilson and His Journey

05:59 Creating Your Own Luck: The Power of Cold Calling

12:16 Understanding Family Offices and Adding Value First

20:26 The Thrill of Capital Raising and Building Relationships

23:17 Niche Focus: The Family Office Space and Future Goals

29:41 The Power of Authenticity in Thought Leadership

32:15 Documenting Your Journey: The Key to Success

36:41 Daily Frameworks for Achieving Goals

38:46 Family Values: A Cheat Sheet for Life

42:47 Defending Family Values in a Changing World

45:30 Being Present: Balancing Work and Family Life

50:07 The Role of a Supportive Partner in Entrepreneurship

Leti and Kenji share their inspiring journey from being physicians to successful real estate investors. They discuss the challenges they faced, the importance of mindset, and how they built a community to help others achieve financial freedom through real estate. Their story emphasizes the significance of education, mentorship, and the power of niching down in business. They also touch on balancing family life with their entrepreneurial pursuits and the legacy they hope to leave for their children.

Key Takeaways: 

• Leite and Kenji started investing in real estate to achieve financial freedom.
• They faced challenges in their early investment journey but remained committed to their goals.
• Mindset and purpose are crucial for overcoming obstacles in real estate investing.
• Education and mentorship played a significant role in their success.
• They emphasize the importance of niching down in business to serve a specific audience.
• Balancing family life with work and personal growth is essential for their happiness.
• They believe in the power of community and helping others achieve their goals.
• Investing in oneself is the best investment one can make.
• They encourage others to take massive action towards their goals.
• Their ultimate goal is to help others live lives they love.

Chapters:

00:00 Introduction to Leite and Kenji's Journey

02:52 The Decision to Invest in Real Estate

05:37 Overcoming Challenges and Mindset Shifts

08:22 The Importance of Purpose and Goals

11:32 Real Estate vs. Other Investment Options

14:18 Building Wealth Through Real Estate

17:25 Navigating the Real Estate Market

20:00 Education and Mentorship in Real Estate

22:47 Final Thoughts and Advice for Aspiring Investors

28:48 Investing in Personal Growth

33:07 Balancing Life and Learning

37:13 Taking Massive Action

42:00 Building a Business from Scratch

47:12 The Power of Niching Down

48:41 Embracing Fear and New Challenges

53:55 Legacy and Contribution

In this engaging conversation, Rory shares her inspiring journey from being a teacher to becoming the Director of Asset Management at Wind River Group. She discusses the challenges of balancing family life with career ambitions, the importance of continuous learning, and the value of building strong relationships in business. Rory emphasizes the significance of extreme ownership in asset management and her plans to launch a podcast aimed at providing leadership insights in the property management industry. Her advice for those looking to transition in their careers is rooted in gratitude, curiosity, and preparation.

Takeaways: 

• Rory's journey from teacher to Director of Asset Management is inspiring.
• Balancing family and career requires prioritization and flexibility.
• Teaching provided valuable lessons in leadership and understanding diverse needs.
• Curiosity and a willingness to learn are key to career growth.
• Building strong relationships is essential in business and property management.
• Extreme ownership is crucial for effective asset management.
• Investors should ask about property management vetting processes.
• Gratitude for current circumstances can lead to personal growth.
• Opportunities arise when preparation meets effort and faith.
• Rory plans to launch a podcast to share leadership insights in property management.

Chapters

00:00 Introduction and Background

04:22 Journey into Business and Teaching

10:14 Balancing Family and Career

13:56 Faith and Personal Revelation

20:48 Transitioning Back to Business

26:06 Curiosity and Continuous Learning

26:58 Curiosity and Work Ethic: The Keys to Success

28:32 Understanding the Role of Chief of Staff

29:37 Navigating Corporate Acquisitions: A Unique Experience

32:34 Transitioning Roles: From Chief of Staff to VP of Strategy

36:57 The Growth Journey at Wind River Group

38:35 The Importance of Asset Management

41:57 Building Relationships with Property Managers

48:32 Investor Insights: What to Look for in Property Management

52:12 Future Aspirations: Launching a Podcast for Property Management

56:02 Advice for Career Transitions and Personal Growth

In this conversation, Kyle Stephenson shares his journey from being a full-time orthopedic surgeon to becoming a successful real estate investor. He discusses the challenges he faced, the lessons learned, and the importance of education and networking in the real estate space. Kyle emphasizes the significance of building trust with operators, the role of teamwork, and the need for a solid financial education, especially for physicians. He also talks about his initiative, the Doctors Investor Club, aimed at empowering doctors with financial knowledge and opportunities in real estate investing.

Takeaways: 

• Kyle transitioned from being a surgeon to a real estate investor.
• He emphasizes the importance of financial education for physicians.
• Building trust with operators is crucial in real estate investing.
• Kyle's journey includes both passive and active investing strategies.
• He learned valuable lessons from his early real estate investments.
• Networking with like-minded individuals has been key to his success.
• Kyle advocates for reading as a primary source of knowledge.
• He stresses the importance of time management as a busy professional.
• The Doctors Investor Club aims to educate and empower physicians.
• Kyle believes in the power of teamwork in real estate ventures.

Chapters

00:00 Kyle's Journey from Surgeon to Real Estate Investor

02:45 Lessons Learned in Real Estate Investing

05:52 Building Trust with Operators

08:24 Navigating the Real Estate Market

11:06 Transitioning to General Partner

13:59 Scaling Up: From Single Family to Multifamily

16:39 Current Projects and Future Plans

26:47 Understanding TIF and Its Impact on Development

28:02 The Importance of Teamwork in Real Estate

28:59 Mastering Time Management as a Busy Professional

30:39 The Birth of the Doctors Investor Club

31:09 Transitioning from Podcasting to Community Building

34:40 Empowering Physicians Through Financial Education

37:32 Advice for Aspiring Real Estate Investors

39:30 Finding Balance Between Work and Family

41:59 Strategies for Effective Reading and Learning

In this conversation, Mike Woodfield shares his journey from a family office to becoming a successful real estate entrepreneur. He discusses the lessons learned from managing a failing business, the transition to real estate asset management, and the importance of communication with investors. Mike emphasizes the need for a solid framework when changing careers and the differences between asset management and property management. He also shares insights on navigating market changes, maintaining team motivation, and differentiating his company in a competitive landscape. The conversation concludes with Mike reflecting on his personal life and future aspirations.