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Real Estate Rookie

216: What Makes Rookies Into Millionaires? Quitting What You Hate! w/Pat Hiban and Tim Rhode

Real Estate Rookie

BiggerPockets

Entrepreneurship, Education, Investing, Business, How To

4.7 • 1.8K Ratings

🗓️ 10 September 2022

⏱️ 51 minutes

🧾️ Download transcript

Summary

Real estate investors are a hard-working bunch. They put in long hours every day to create passive income and find financial freedom. Many investors resort to doing what they hate, day in and day out, simply to escape the clutches of a nine-to-five job. If you’re a rookie real estate investor, you’re probably the property manager, head of acquisitions, tenant contact, and accountant all rolled into one. But this “all or nothing” way of working could slow you down faster than you know. If you want to take your wealth to the next level, try quitting—it’s what Pat Hiban and Tim Rhode have been doing for decades. As two successful real estate agents, they enjoyed the negotiation games that eventually led to large commission checks. But as the years went by, this non-stop grind took its toll—so much that they both gave up very profitable professions to do what they love. Surprisingly, the “do what you love” lifestyle made them even more money than before! This is all well and good for a couple of veteran investors, but what about our real estate rookies? What about you, listening to this with one, two, or ten deals? How do you take a step back and become a quitter like Pat and Tim? Can you really make more money by doing less, and even if you could, how do you take the first step? In their new book, The Quitter’s Manifesto, Pat and Tim lay out the exact team and strategy you need to go from burnout to big checks with far less effort. In This Episode We Cover How two formal education failures became multimillionaires  Going from 100% “obligation” work to 100% “interest” work by doing what you love Finding the “quiet” that brings your best ideas to light  Building your team of quitters who will hold you accountable to do less and make more How to find a world-class real estate mentor who will speed up your growth substantially The financial position you should be in before you contemplate quitting  And So Much More! Links from the Show Ashley's Instagram Tony's Instagram BiggerPockets GoBundance Upwork BPCON2022 BiggerPockets Bookstore Building 61 Different Passive Streams of Income with Pat Hiban Turning $5K Into $5K/Month and Retiring at 40 with Tim Rhode 9 Simple Steps to Finding the Best Real Estate Mentor for You Book Mentioned in this Show The Quitter's Manifesto by Tim Rhode and Pat Hiban Connect with Pat and Tim: Pat's LinkedIn Pat's BiggerPockets Profile Tim's Website Tim's LinkedIn Check the full show notes here: https://www.biggerpockets.com/blog/rookie-216 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

this is real estate rookie episode 216 and I think the number one role to being a good mentee

0:08.5

is actually taking the advice of the mentor a lot of a lot of people come to me and I say

0:16.4

you know read this book and do this and do that never and I never hear from them again

0:21.4

but when I hear back from somebody that's like Pat I read all three of the books

0:26.1

here's a picture of all the notes I took um I did exactly what you said I went out there

0:31.7

and and you know did this and did that I'll be like great stay in touch my name is Ashley

0:40.0

Care and I'm here with my co-host Tony Robinson and welcome to the real estate rookie podcast where

0:45.2

every week twice a week we bring you the inspiration information education and motivation you

0:49.9

need to kickstart your investing journey and I usually like to start the shows by giving a quick

0:53.7

shout out to the folks that have let us a review this week's review comes from Yuri to wealth

0:59.1

and she says best podcasts for people getting started Yuri says this podcast has helped me say

1:04.6

motivated and wants to level up and become financially free it amazes me hearing other people's

1:09.6

stories and I always learn your thing or two from every episode I am so glad this podcast exists

1:15.2

so Yuri appreciate that and if you haven't yet please leave an honest reading and review on

1:19.6

whatever platform you're listening to uh the more reviews we get the more folks we can reach

1:23.9

more folks you reach more folks we help so Ashley we've got a really really good episode lineup

1:28.6

for today right to just absolute juggernaut to the game one of them is a self-described OG legit

1:34.8

real estate investors so I'm excited for repeat a listen today before we get to the episode let's

1:41.1

hear a word from our show sponsor we know you've heard it before hash flow is getting very hard to

1:48.4

find there's always long distance investing but you may be thinking I don't have a team enough

1:53.7

experience or the market knowledge to get in that's where you're wrong and that's where rent

1:58.5

to retirement comes in rent to retirement offers full turnkey properties that are newly built

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