REI076: NFL Player to Serial Real Estate Entrepreneur w/ Terrence Murphy

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6 • 592 Ratings

🗓️ 28 June 2021

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

Robert Leonard, and a new guest co-host, chats with Terrence Murphy to talk about lessons he learned from having a dream he worked his entire life for ripped away right after it was achieved, how he persevered and avoided going broke unlike other athletes, how he transitioned to real estate and is now a successful entrepreneur, and much more. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 04:07 - Lessons Terrence learned from having a dream he worked his entire life for ripped away right after it was achieved. 05:42 - What mindsets to cultivate and actions to take in order to persevere in hard times. 06:28 - How adaptability and being “smart enough to know what one doesn’t know” can help propel one’s career. 09:00 - How to avoid struggling financially or going broke (as an NFL player) after retirement. 12:49 - Why real estate is a good backup career and where to begin/what to focus on once you’ve decided to go full time. 14:26 - How to scale your company and best manage multiple real estate businesses (i.e. real estate brokerage, a property management company, a mortgage company, an insurance company, etc.). 21:59 - Which real estate business is the most profitable. 26:31 - Why hiring candidates with little to no experience may be the best strategy for entrepreneurs. 29:59 - Whether to focus on one business or juggle multiple businesses at the same time. 37:36 - How to set up a personal portfolio outside of one’s business. 41:22 - Terrence’s financial worries for the next one to five years and how he is making preparations to protect his investments. 43:17 - Which habits or principles to incorporate into your life that will help lead to your success. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Terrence Murphy’s show, Real Estate Entrepreneur Podcast. Terrence Murphy’s TM5 Properties Website. Chad Carson’s book Retire Early with Real Estate. Mark Ferguson’s book Build a Rental Property Empire. David Goggin’s book Can’t Hurt Me. All of Robert’s favorite books. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Robert: Website | Instagram Connect with Terrence: Instagram | Facebook | Website Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.5	There's a lot of people achieving greater things than you, simply because they chose to believe
0:06.9	in themselves.
0:08.0	It's not that they're more talented.
0:09.5	It's not that they can run 20 companies than I can't.
0:12.0	It's just the fact that they believe that they can do it and they wouldn't did it.
0:17.5	On today's episode, I chat with Terrence Murphy to talk about lessons he learned from having
0:22.2	a dream he worked his entire life for, ripped away right after it was achieved, how he persevered
0:28.8	and avoided going broke like other athletes, how he transitioned to real estate and is now
0:34.2	a successful entrepreneur, and much more. Terrence was an NFL player with the Green Bay
0:39.3	Packers, who became a real estate investor, broker, and entrepreneur after retiring from the NFL.
0:45.3	He founded the brokerage TM5 properties in 2010 and has completed over $250 million in sales volume
0:52.7	over the past 10 years. He has also successfully started
0:56.6	a number of other ventures and companies over the years, including Murphy's signature homes
1:01.3	and the Real Estate Entrepreneur podcast. I mentioned that I chatted with Terrence, but what's new
1:07.2	in this episode is that it isn't just me. I actually had a co-host join me this
1:11.1	time. So far, through nearly 200 podcast episodes across the millennial investing podcast
1:17.0	and the Real Estate 101 podcast combined, I have hosted every episode myself, but today,
1:23.8	that changed. If you've been listening to either show for some time now, you've heard me
1:29.6	talk about him before. You've heard me talk about how I have a business partner in my real
1:33.9	estate business. And well, today, he joins me as the co-host for today's episode. His name is
1:40.0	Ryan can say so. He's built a very successful career in sales, had success in swimming and
	...

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