Why Wealthy Individuals Should Be Choosy About Their Business Ventures
Wealthy Way
Ryan Pineda
4.9 • 2.2K Ratings
🗓️ 2 November 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
Learn how to say "No."
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generated over 1 billion views online. Starting as a minor league baseball player making less than $2,000 a month, Ryan is now worth over $100 million. He shares his experiences in building wealth and believes that anyone can change their life with real estate investing.
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Transcript
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| 0:00.0 | that the highest and best use of my time is attraction because it's the most leverage |
| 0:03.8 | thing that I can do period where if you like people that are really wealthy, they get |
| 0:09.9 | paid multiple times for doing something once. |
| 0:13.1 | So like I've personally brought, let's say, 40 people into the company, but those 40 have |
| 0:18.1 | one out and got like 150, let's say, 155. |
| 0:21.9 | So that's like like a multiple of 3x, 4x and as it builds out, it'll be 25x, 30x, right? |
| 0:29.3 | And I ask myself a question because there needs to be a filter to decide what's worth |
| 0:33.0 | my time. |
| 0:34.5 | The first one is, does it compound and is it leveraged with those two mental maps? |
| 0:39.2 | If the answer's no, it goes away. |
| 0:40.9 | I don't even look at it anymore. |
| 0:42.9 | The second is, is a filter, can I make at least a million dollars a year doing this? |
| 0:47.5 | If the answer's no, it's not worth my time. |
| 0:49.0 | I'm not interested because there's a lot of people call me, guy call me yesterday to |
| 0:53.3 | create like a flipping company and I'm like, look dude, I appreciate it. |
| 0:57.0 | Thank you. |
| 0:58.2 | I'm not interested in that at the moment. |
| 0:59.5 | I know I can make money doing that, but it's not leveraged and it doesn't compound. |
| 1:02.9 | It's just a mechanism to raise cash and I'm not really interested in that at the moment. |
| 1:06.7 | Yeah. |
| 1:07.7 | So once I put it through those two filters, then I ask myself a question. |
| 1:10.4 | Let's say I have two left, right? |
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