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BiggerPockets Real Estate Podcast

435: Why Successful People HATE Losing, But Aren’t Afraid to Lose with Scott McGillivray (Part 2)

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.816.6K Ratings

🗓️ 17 January 2021

⏱️ 80 minutes

🧾️ Download transcript

Summary

Scott McGillivray is back for this second part of his amazing interview. Last time we talked about the nitty gritty of Scott’s investments, how he started to acquire houses, and building his empire. Now we’re touching more on the mindset of what makes Scott so successful, and how you can put yourself in his shoes. Many people may know Scott from his HGTV shows, but maybe you didn’t know he was once in a boy band. Seriously. He took dance classes, convinced his friends to join him, and sold out some shows, but the takeaway from this short-lived boy band was priceless. If you see someone else finding success with something, use their blazed trail to find success yourself. From his boy band, to being on student council, and even the passing away of a loved one, Scott learned valuable lessonsthat he took with him for the rest of his life, and now gets to share with the BiggerPockets audience. Scott goes on to share a story that made him pivot the direction of his life as a teenager, and lead him to become the real estate mogul he is today. Scott goes through his top pieces of advice for young people and proves how planting seeds for investments early leads to acres upon acres of residual fruits for decades to come. In This Episode We Cover: How Scott manages his hectic life between companies, shows, and family Why successful people aren’t afraid of failing What young or inexperienced investors should do when they feel scared of taking a risk Why Scott says you “can’t lose money in real estate” The importance of talking to those who are older and have more experience than you Scott’s top pieces of advice for young people just starting out their careers How Scott runs his companies and what he’s doing to be a better leader How you can be the MVP of your company  And So Much More! Links from the Show BiggerPockets Podcast BiggerPockets book store Books Mentioned in this Show: E-Myth by Michael Gerber Built to Sell by John Warrillow Click here to check the full show notes: https://www.biggerpockets.com/show435 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the bigger pockets podcast show 435.

0:03.6

The difference between successful people and people who just dream about having success

0:10.0

is that successful people hate losing, but they're not afraid of it. Whereas unsuccessful people

0:18.0

are afraid of losing. When you're afraid of losing, you're too scared to try. When you hate losing,

0:24.1

you never give up.

0:46.7

What's going on everyone? It's Brandon Turner, host of the bigger pockets podcast here with

0:50.4

my co-host once again, Mr. David the man green. What's up David the man? How's how's

0:56.3

condo shopping in Hawaii? It's been really good. I got one under contract. I put a second one under

1:01.5

contract late last night and I had a third. The seller actually decided not to move forward because

1:08.0

they lost the 1031. They were going after so I almost had three, but I got two and they were the

1:12.4

two that I like the most. So I'll be working on that one. How close are they to my house? That's

1:16.3

the real question here. Seven and a half minutes really close. We have a five minute rule. As long

1:22.4

as you're five minutes away from me, we're going to be fine. Well, we do make magic together when we're

1:27.2

in that seashed. I'll tell you what. I know it's going to be good. It's going to be nice having

1:31.6

you around more often. It's going to be weird having you split time between California and Hawaii

1:36.7

more often, but it'll be awesome to see what you do with that. I'm really, really looking forward

1:42.6

to that for many reasons as we could get into later, but I have really big plans for 2021 and this

1:47.3

is most excited. I've ever been about business in my whole life. That's awesome. I think a lot of

1:52.1

that is because just because of how much I know you, I think a lot of your excitement comes the more

1:56.7

you come like you or in Hawaii a few weeks ago and you're like, you go back home, you're like,

1:59.9

I'm going to take on the world. And then like, you go the few months and you're like, I haven't

2:02.9

been to Hawaii in a while. So you like, go back. It's like your energy like this. It's like your

...

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