2.5 • 884 Ratings
🗓️ 26 May 2024
⏱️ 49 minutes
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0:00.0 | So I was asking you because I'm 33 you're 41 I was like if you can go back 10 years you know what advice would you give yourself in real estate specifically yeah and you said |
0:11.5 | uh... be more patient and start buying more houses. |
0:14.0 | Like I would tell you most of my net worth is tied up in equity in houses. |
0:18.7 | And it's so interesting people are fighting to do better, more like people want to be better they |
0:26.6 | want to know what what's the thing somebody told me the other day I want to be more |
0:30.0 | have more do more all the time like you want to be more have more do more yeah okay |
0:35.6 | great we already know a lot of people that have lost their fortunes multiple |
0:39.8 | times in their lives right like Grant Cardone Ryan's lost things I've lost everything you |
0:44.4 | know years and years ago like you're gonna lose everything at some point yeah |
0:49.9 | your business is gonna fail something bad going to happen to you the whole economy is going to shift something's going to happen |
0:57.8 | It's going to happen. There's never been a business owner that's like yeah, dude my my shit was like this my whole for 50 |
1:03.6 | years it was like this okay cool so that's the case here's what I see it |
1:09.9 | most people doing they're rushing and rushing and rushing to make more active |
1:13.8 | income all the time. Active, active, active. Their active income goes up. They |
1:18.7 | spend all their time and energy on that. Fix and flips, wholesaling. Great. I love those too. They're amazing and I you should always do them. |
1:27.0 | However, what I would have done differently is when I was your age, I got my first deal and I was 31 so you're way ahead of me. |
1:33.0 | I got mine 10 years ago. It's my first deal. You're way ahead of me dude. |
1:37.0 | Okay so what I did for four years is I primarily wholesaled, like everything. |
1:43.8 | Sub two, seller finance deals, cash deals, novations, like I wholesale primarily |
1:49.2 | everything and what I should have done is come up with an equation of every time I touch a house, |
1:54.5 | I have to average one in five deals has to go in the portfolio. |
1:58.5 | If I would have done that, I went back to all my houses that I did in my first four years I'd be worth an |
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