How To Use The 2023 Recession To GET RICH - Do This Now... | Graham Stephan

Tom Bilyeu's Impact Theory

Impact Theory

Business, News Commentary, News

4.7 • 5.2K Ratings

🗓️ 26 January 2023

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you’ve noticed the price of eggs recently you may have realized the pain of the recession we’re currently experiencing. Making money during a recession is not only possible, it’s often said to be the time when millionaires are made.

Graham Stephan, host of Iced Coffee Hour, successful YouTuber with over 500 million views started his journey to financial success at 18 years old at the start of the 2008 financial crisis. Years later, over 30 and more than $120 million in real estate sales later, he’s one of the biggest millennial influencers sharing his wins, failures, and experiences for everyone to learn.

In this episode Graham talks about spotting opportunities, doubling down on where you put your efforts, his approach to investing, and how he beat the market with a monkey picking investment stocks.

Before you think he had a lucky break into real estate, Graham breaks down how much free work he did to learn real estate, make money, and gain mastery.

Struggling to see opportunities when everyday feels like doomsday is normal. On this channel we find ways to struggle well, build skills, and put those skills to work and build your success brick by brick.

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Website: https://www.grahamstephan.com/

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YouTube: https://www.youtube.com/c/GrahamStephan?app=desktop

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Transcript

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0:00.0	What's up guys? I'm so excited to have the 30-year-old real estate guru Graham Stefan on the show.
0:05.4	You may know him from his crazy successful YouTube channel, or maybe you follow the iced coffee hour podcast to us every week.
0:12.3	Either way, if you're not familiar with Graham, you're in for a treat today as we break down how he started a highly successful career in real estate during the financial crisis
0:22.1	of 2008 at only 18 years old. He's sharing nuggets of wisdom around investing. He's picked up
0:27.7	along the way and how you can pivot your thinking and strategy to make money in the recession
0:33.3	that we're in right now. I hope you guys enjoy listening to this episode as much as I enjoyed recording it. And if you do, please leave a review on the podcast. It really is the best way to support us so that we can help get this bad boy out to more people just like you trying to push their potential and be legendary. I'm Tom Bill you and welcome to Impact Theory. In the beginning, I was just, I wouldn't take no for an answer. I think it was very stubborn and I just viewed everything like that. Like whatever I'm spending, 10% I could be getting every year forever. If I could earn enough, then I'll never have to worry about like working a job I didn't like or having to report to a boss. I could have $10 a year for the rest of my life if I just invest this money in real estate.
1:15.4	Graham Stephan, welcome to the show.
1:18.6	Thank you. Thank you for having me. This is quite the setup you have here.
1:24.1	Yeah, I'm excited to have you. So tell us, what can people do to make money in a recession?
1:27.6	I've always been a proponent of doubling down on whatever you're doing, work twice as hard, save twice as much. Really take advantage of any opportunity that you have because I got my
1:33.2	career started in 2008. I got in a real estate right as it had like peaked and had just cresting and
1:39.5	was starting to go back down. And I remember everyone telling me, oh, you're too late for that.
1:43.7	The market's going down. Now's a terrible time. You should go to college. And I remember everyone telling me, oh, you're too late for that. The market's going down.
1:44.5	Now's a terrible time. You should go to college. I just saw that as such a cool opportunity because
1:49.4	like I had no reference point for what was good or what was bad. So anything for me was like a success.
1:54.6	How old were you in 2008? 18. Whoa. You got into real estate at 18? How'd you have a capital?
2:01.9	I had a few thousand dollars that I had saved up working part-time throughout high school. And so I used some of that money to get my real estate license. And the cost of that, I mean, the bar is set so low. Because I took my classes online. They sent like some textbooks. I took a state test. It was maybe a few hundred dollars to register with the state of California, like to get your fingerprints and whatnot.
2:21.0	I'm very little. They sent like some textbooks. I took a state test. It was maybe a few hundred dollars to register with the state of California,
2:19.2	like to get your fingerprints and whatnot.
2:21.0	Very low startup capital, but then the difficulty becomes making money.
2:24.9	So actually getting licensed and jumping in.
2:27.2	Pretty much anyone can do it if you have a grand.
	...

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