Kris Krohn | Mindset, Markets, and Millions

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The common strategy everyone uses at age sixty five, the
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average balance is two hundred and fifty four thousand dollars.
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If you give that to your financial planner, they're going
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to neuwitize that around three percent. You're going to get
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around six hundred dollars a month for the rest of
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your life. Now, you can't retire on Social Security plus
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six hundred a month, so that means that forty year
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strategy is not good. Meanwhile, the average equity in the
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average single family home in our country right now is
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three hundred and twenty seven thousand dollars. What that means
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is that a forty year intentional retirement strategy, your single
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family home beats it. Which is why, at age sixty five,
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I think the most common thought that a retiree is
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having is five more homes over the course last forty years.
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I'd probably worth a couple million dollars, and all of
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a sudden, I be in a good situation instead of
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a bad situation.
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Welcome to the Radical Responsibility Podcast. I'm doctor Fleet Mal
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and I'm excited to guide you on a journey of
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authentic transformation. In each episode, I'll bring you insights from
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leading experts to explore trauma, recovery, mind influenced practices, positive psychology,
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and innovative breakthroughs in health, wellness, and life optimization. This
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is a space for real conversations that inspire meaningful change,
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helping you find alignment with the person you are always.
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Meant to be. Let's get started.
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What if transformation isn't just about thinking differently but feeling differently.
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Science shows us that true change happens when we align
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not just our minds, but also the neural networks in
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our hearts and guts. This heart mind connection is the
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key to deeper healing, resilience, and expanded awareness. That's why
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I created the Heart Mind All Access, membership and community,
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a space designed to help you rewire your nervous system,
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cultivate heart intelligence, and live with greater clarity and purpose.
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With over one thousand hours of transformational teachings specifically curated
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to meet your needs, You'll learn from world renow meditation teachers, neuroscientists,
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and experts in neuroplasticity, all sharing powerful tools to help
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you shift your mindset and heartset, regulate your emotions, and
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unlock your full potential. You'll also gain unlimited access to
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every summit and course we've ever produced a Treasure Trouble
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Wisdom worth over ten thousand dollars in growing, plus live
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gatherings and an inspiring global community.
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To support your journey.
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If you're ready to step into a more heart centered,
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connected and conscious life, I invite you to join us.
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Clip the link to learn more and start your journey today.
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What if you could.
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Break free from the limits of traditional financial planning and
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instead create wealth that's predictable, scalable, and transformational. Hey, I'm
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doctor Fleet Mall. In this episode, I sit down with
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real estate mogul and visionary entrepreneur Chris Krohn. From humble
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beginnings as a telemarketer to building a real estate empire
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that outperforms conventional retirement strategies, developed a unique systematic model
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that's changing the way people think about wealth creation. We
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dive deep into his strategic approach to real estate investing,
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how he finds high growth markets, leverages other people's money,
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and builds powerful cultures within his organization. Chris shares why
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mindset is the real key to scaling any business and
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how daily visualization aligned with decisive action can create exponential outcomes.
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Whether you're scaling your company, pivoting towards passive income, or
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looking for a mindset edge. This conversation will open up
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a whole new playbook for what's possible. Let's dive in.
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My name is doctor Flee Maul, your co host for
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the session, and I'm really thrilled to be here today
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with Chris Crohn.
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Welcome. I appreciate it.
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I'm excited to be here, and hopefully I can be
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useful and share some beautiful knowledge with everybody.
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Let's start off with a little bit of how you
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got into this entrepreneurship, Bain and becoming an expert real
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estate investor.
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Where'd you start? How'd you get to there?
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I know it's difficult to encapsulate that in a couple
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of minutes, but we'd like to let people know who
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you are so they can identify with you and their journey.
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And yeah, so I for me, and I'll start in college.
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I actually had that German immigrant father that said you
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need a college degree to go anywhere in life. And
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while I was there, I also was putting myself through
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college with this telemarketing job.
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And in that first year at that job.
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While in college, I must have talked to a couple
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thousand people that all were now in their fifties and sixties.
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They had built their four o one k's, their iras,
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they had been financially responsible.
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They tried to pay out their houses.
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And most of them with maybe thirty years down the
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road since college, with a decade left to go, they
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were falling heavily short financially. And that's when I started
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realizing that I'm just getting trapped in someone else's maze.
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And so I decided to do something fleet very, very different.
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And I found a couple of mentors that had each
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made you know, millions, tens of millions of dollars in
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the game of real estate. I asked them to mentor me.
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One of them turned me down, two of them said yes.
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And while I was.
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In college, I learned how to acquire real estate with
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no money, no credit, and by the t time I graduated,
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I had twenty five homes. They were paying me a modest,
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you know, passive income of twelve thousand dollars a month,
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and it meant that graduating college, I didn't actually need
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to get a job, and so I just kept doing
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more of that, and then it became one hundred homes
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and it became a thousand homes, and then it became
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sixty five hundred homes, and basically learned how to scale
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single family investment and get it to consistently produce an
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ROI seventy five times higher than a four to one
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K over a twenty year span. So we basically averaged
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sixty percent a year on our money by investing in
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real estate as opposed to the chaos of the stock market.
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And I kind of built, you know, my social media
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millions of followers. Now I just help people basically in
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that niche learn how to master single family investing to
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basically create alternatives for retirement.
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Wow. Well, you were very fortunate to have that. And
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you know, telemarketing often sounds like a terrible job, but
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I think you'd learn a lot in telemarketing, but none
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unless you had that great insight because of the audience
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you were reaching out to to tell them marketing and
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seeing the limitations of that approach to life and success.
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It really ports it on your partner. You had two
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mentors that said yes, So you know, you've built two businesses.
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One you built your own real estate, entire real estate portfolio,
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and then you started teaching others to do it. So,
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in some ways two different businesses. You scaled there and
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on today our focus is scaling, and you know, there's
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launching a business and there's beginning to grow your business.
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But scaling really takes us into an entirely new game
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where we can meet a lot of new challenges, whether
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it's growing our team or seeing profits squeezed, or just
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a complexity. You know, we have to become a different
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person to run a business at that level than somebody
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is who's running it at a smaller scale. So I wondered,
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what did you see as some of the challenges and
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scaling your business as it became more complex both maybe
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in both stages, the one of building your real estate portfolio,
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it's such a high level, but then turning around and
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building the business of teaching others to do so.
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Yeah.
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So I discovered in the game of real estate that
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if I could make my project homogenous, that it would
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allow me to basically create a duplicatable system. And so
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I decided to drill down hard on a niche. I
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don't actually believe that single family investing is smart. When
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I say it, I mean that if you buy a
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three bedroom, two bathroom minimum new home built one of
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the top five markets of the United States, and you
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purchase at thirty percent below the median. If you can
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meet all that criteria and hold that home for five
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to seven years, that's where I would essentially squeeze out
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this average sixty percent annual ROI that really kicks trash
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out of four to one k's IRA savings or other investments.
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And so because I was able to turn it into
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a system, if you were to evaluate my last couple
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thousand deals, you'd say, well, Chris, they all look identical.
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They all look the same.
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There's strength in that the box that my buybox is
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so narrow, and what that does is that gives me scale.
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And so the last two billion dollars in real estate transactions,
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all the product looks the same, acts the same, behaves
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the same, and as a result, so is the ROI.
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That's different than what most people don't in real life.
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State they're looking for this cute you know, Airbnb, and
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then we're going to do this development project. Then we're
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going to do this multifamily. And you never really develop
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mastery because you're not specializing, because you're doing a little
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bit of everything and what I really learned from my
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mentors is that's how to fail. So what I did
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is I said, well, let's pick a niche where we
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can make the most money for the least time effort risk,
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and then we're going to exploit it and then we're
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going to run hard with it. Well, that's systems thinking,
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not very different when it really came into my educational
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business of showing people. I don't actually like to consider
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myself a real estate guru or an educator because those
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that can't do teach for me. It's the opposite. I
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buy real estate every single day with a team of
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two hundred experts. What I do different is I leverage
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my social media and go out there and say, hey,
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if you've always wanted to make money in real estate,
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but you're not confident that you're going to put in
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your ten thousand Malcolm glad Well hours, then partner with
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me and I'll just do it for you. And that,
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again is another system. So instead of me teaching you
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saying well, I hope you figure it out and I
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hope you'll implement it the way I'm showing you, I
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just say, eh, we're going to dummy proof this. If
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partner with the right person, then everything becomes a known
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in this algorithm of ones and zeros, which means it's
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a return to predictability. I don't think you can scale
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a company ultimately unless you have total predictability.
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Fascinating. So just so I understand your business small elements.
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So you're actually buying single family homes and you're holding
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them for a period of time. Now in the meantime,
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I assume you're renting them out, so you have a
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whole property management, rental agency business everything.
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Yeah, and so if you look at the United States,
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it's made above three hundred and twenty four major cities,
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but only five of them. The population's booming, We've gotten
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inversion on the supply demand scale. The homes are still
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deeply affordable for income in the area. There's ten macroeconomics
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I dial in before I can select a market. So
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one of my markets, for example, is Orlando, Florida, where
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in the next five years they're expecting a seventeen percent
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population growth, and I buy in a specific area, brand
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new bill with the highest appreciation that we have in
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the United States. With a half a million people leaving
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California and six hundred thousand leaving New York last year.
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The majority of those are flooding into Florida. What we're
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doing is we're capitalizing on that major supply demand curve.
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Issue, and you buy within a certain price range.
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Yeah, everything is in a really narrow box. My average
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houses purchased between two hundred and two hundred and fifty
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thousand dollars.
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Wow, these are in those markets. Those are almost starter homes.
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Yeah.
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So if you take a look at all real estate,
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condos won't appreciate, or a townhome own appreciate, or a
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two bit on one bath won't appreciate as much as
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a starter home. Meanwhile, starter homes also outperform luxury or
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anything mid grade. So yeah, it's a very specific niche.
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I know there was a big crash in the luxury
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home market in Florida, especially back in two thousand and eight.
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Yeah, sure was.
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So that seems to make a lot of sense. So
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you mentioned two hundred experts, you have two hundred employees,
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or you have a network of best works. As you
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built this, I'm sure you must have a lot of
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people fighting the homes you're going to buy, and there
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must be a big operation to make sure you're getting
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that it's that narrow niche.
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Well, this actually comes back to the conversation to scale.
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Some are employees, some are ten ninety nine, some are realtors,
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some are third parties. I used to run everything in house,
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and I found that scale was easier when I could
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actually tap into existing companies and fore go making money
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on those fees, but have efficiency and accountability that was
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harder to produce internally.
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Oh, quite interesting. So you have agents that are actually
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doing the purchases for you, then yep.
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Yeah.
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So basically these two hundred experts range from portfolio managers
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internally that are, you know, interfacing with my partners that
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find me online that want to produce these sixty percent returns.
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I mean, the reality is if I can help someone
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buy one rental twenty years later, you can turn that
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into a multimillion dollar portfolio. They're not getting that in
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pensions or four one case. So I'm really an alternative,
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but it's a done for you option. So I need
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portfolio managers. And then of course there's realtors and loan
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officers and title agents. I've got to have people that
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can fix up the homes, do the title work, et cetera.
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Well, what were some of the challenges you met along
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the way. I mean, I assume that as you begin
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to unfold this strategy and so forth, there must have
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been some bumps in the road, and also personally in
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terms of not burning out the sustainability that it's taken
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for youth to datums and get where you are today.
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Could you talk a little bit about that journey.
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Well, at first, my real estate was very local. I
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live in Utah, so I was building all my real
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estate portfolio Utah. So I learned after the two thousand
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and eight crash that there's a lot of other great markets.
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I went into one market that was a nightmare. It
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was a blue state, and I was licking my wound
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on a million dollars.
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That I lost.
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But then I hit it hard with the right markets.
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Phoenix and Vegas are to the markets that I bought
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thousands of homes in those Yeah, And you know, within
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five years, I made my investors over one hundred million dollars.
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And so we made mistakes and did things well. And
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what we did is we ultimately learned about macroeconomics and
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data as opposed to hunches and local markets. You know,
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when they say in real estate, there's an adage location.
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Well, well, if you're.
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Looking locally, you're looking at the cities around you, but
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if you're looking nationwide, you have a chance to really
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poach a handful of markets where you're going to outperform
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everyone else.
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Well, it sounds like in your business model and that
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you're also providing other investors, there's a lot of leverage
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because you've picked the best niche with the most leverage
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the investment. And also the idea of recurring revenue can
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be very important to a business. And often when we
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say recurring revenue, people think about subscription programs and membership
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programs and so forth. But any system that you know,
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if you do that system every day is going to
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produce x amount of revenue is recurring revenues. So I
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wonder if you talk about that in terms of how
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you built your business and being able to count on
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that recurring revenue stream.
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Yeah, part of my recurring revenue just comes from the
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way that I buy real estate. I've got partners that
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will set up an LLC, put money down, qualify with
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the bank. That's kind of an old school methodology that
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increass you maximum leverage. So maximum ROLI. But a lot
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of my partners are looking for convenience and they don't
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want to apply their credit or they have reasons why
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they don't want to go through that criteria.
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So I put together real estate funds.
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I currently have more than a dozen different real estate funds.
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Partners will put their money in, will buy real estate.
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That way, use the same strategy, except we go in
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and buy cash and then I use DSCR loans to
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pull the money out. Well, these funds have management fees,
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and those management fees are paid out every single month.
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They're reoccurring.
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And so in my reoccurring model, I get millions of
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views every week on my social media. People you know,
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every week will find me, they'll decide to become partners
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with me, they'll invest in my funds. Those funds are
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ever expanding. You know, in the next year, we're going
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to take on another one hundred million dollars in real estate. Well,
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when you add your fees to that, you know, which
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we disclosed to all of our partners, that produces our
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reoccurring revenue. And you know, if I keep doing this
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for the next five years, their reoccurring revenue is over
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a million dollars a month. So there's a model, and
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I think that is an important part of saying, well,
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your company has expenses. You don't want to start the
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first every month starting over saying we got to generate
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new revenue all over again. If you have some of
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it reoccurring, obviously, that's going to lighten your load.
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And make things a lot easier. Yeah.
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Absolutely, So again to kind of dig it into your
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business model here. So you're buying star homes, you're writing
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them out and holding them for a period of time,
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and it's a pretty leveraged investment. So do these cash flow?
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Is that part of your revenue stream on the rental
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or you just want to break even with them?
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And you may definitely do not want to break.
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Even, Like that would be a really really that'd be
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a crass model for sure. Now, part of the reoccurring
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revenue is that there's absolutely I don't think we pay
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a ton of attention to it in the beginning, because
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you know, if I help a basic investor by one,
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two or three homes in five years, we want to
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double it. So let's say we start with two in
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five years, we want four, and then five more years,
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we want eight. And five more years we want, you know,
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sixteen and over twenty years, someone can build a portfolio
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of fifteen to thirty homes. Well, the cash flow in
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fifteen to thirty.
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Homes is actually pretty exciting.
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It's like, well, if I'm making four hundred dollars or
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five hundred dollars a home and I've got twenty homes,
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you know, now I have a residual income that allows
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me to have more of the retirement that I want.
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And one percent of your rental income is then dedicated
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to property management and the rental agency whoever's doing the
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job of keeping them rented and managing the property.
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You know, it's pretty typical for property managers to charge
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ten percent, but because they view me as one client
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with two thousand partners, what I do is I get
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everything in bulk. So when I open up a new area,
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I negotiate with that manager to do it at six
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percent instead of ten percent. And anytime I can drive
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those fees down, that's a forty percent fee reduction that's
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pretty significant. By doing that, that also boosts my ROI
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because there's a lot of people that look at my
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report over my longitudinal study over the last decade and
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they see the on the last twenty one and thirty
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rentals that we're producing sixty point sixty five percent of
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your on our money. They want to know how do
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you do that? And part of that is you got
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to get your fees down, and part of that is
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the game of real estate and bulk will always create
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that driving force.
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So, you know, the housing market can be a bit volatile.
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There's some probably long term trends and some crashes and
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so forth. And then there's a rental market as well,
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so you're exposed to both markets in terms of the
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pricing on homes and then rental prices. Now, I don't
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know how closely real estate prices and rental prices track.
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I'm sure they parallel, but there might be some way
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they differentiate. But I'm curious about that. How the rental
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market impacts your business, and then how changes in the
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housing market impact your business.
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Yeah, two things on that, you know.
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The first one is that the rental market will usually
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be about eighteen months delayed.
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Behind the housing market.
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So let's say that the housing market comes you know,
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crashes or comes down, or we have a change in
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supply and demand, the rental market will come in tow,
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and so that meant that real estate for the last
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couple of years has had some crushed cash flows. Under
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this administration, Donald Trump is saying to make real estate
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affordable again. He wants to get rates back down to
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three percent. If he achieves that, that's going to create
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a You know, as rental rates are rising in people refinance,
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you're not going to see cash flows of five six
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seventy eight hundred dollars on a property, so they do
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move and you have to play a long game to
395
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play that one well. But as far as the market crashing,
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the stock market crashes every seven years. Real estate is
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usually every fifteen years. But it's very predictable and it's
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not all at once. It's really about supplying demand. The
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00:18:11.559 --> 00:18:13.759
two thousand and eight crash happened because we had too
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00:18:13.839 --> 00:18:15.799
much real estate and not enough buyers, because a home
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00:18:15.839 --> 00:18:18.400
is only worth what someone's willing to pay. But in
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this economy that we're in, historically at this point we
403
00:18:21.519 --> 00:18:25.160
never recovered from eight We're currently missing four point five
404
00:18:25.240 --> 00:18:28.720
million single family homes. If we have every builder on
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00:18:28.759 --> 00:18:32.440
the streets building at maximum capacity in nine years, it's
406
00:18:32.480 --> 00:18:35.440
possible to break even, which is when the next crash
407
00:18:35.519 --> 00:18:38.680
could be. So single family is a space. There's a
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reason why billions of dollars from hedge funds are pouring
409
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into the purchasing of single family homes is because for
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the next decade it's going to actually be a very
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safe market.
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So you know, in thock market and buying, owning securities
413
00:18:51.640 --> 00:18:54.920
and so forth, equities and so forth. Generally, the conservative,
414
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even not sole conservative, is buy and hold and asset
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allocation and so forth.
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Being a day trader and.
417
00:19:00.079 --> 00:19:02.279
Trying to actively beat the market day to day is
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very risky. You better make it your time job, better
419
00:19:04.599 --> 00:19:07.200
be pretty sure. But it sounds like in some ways
420
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you're doing that with real estate, but in a longer
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00:19:09.160 --> 00:19:11.559
game by choosing the right markets to be in at
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00:19:11.599 --> 00:19:14.160
the right time. And hadn't that be data driven?
423
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Yeah, it is true.
424
00:19:15.319 --> 00:19:17.079
You know, the stock market when you take a look
425
00:19:17.119 --> 00:19:20.240
at its EBB and flow, real estate moves much more predictably,
426
00:19:20.359 --> 00:19:22.920
moves very different. I can drill down to a zip
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00:19:22.920 --> 00:19:25.880
code and I can know what our supply demand looks
428
00:19:25.880 --> 00:19:27.319
like in that zip code, so I know when it's
429
00:19:27.319 --> 00:19:29.720
time to pull out after X number of time. And
430
00:19:29.799 --> 00:19:31.440
so we're basically going to sit in that market, and
431
00:19:31.440 --> 00:19:33.160
we're going to ride that market, and then when that
432
00:19:33.200 --> 00:19:35.759
market has basically saturated, we're going to pull.
433
00:19:35.640 --> 00:19:35.960
Out of it.
434
00:19:36.000 --> 00:19:39.279
And that's part of how we create predictability in that game.
435
00:19:39.440 --> 00:19:42.519
It's actually a very simple economic engine to be able
436
00:19:42.519 --> 00:19:44.680
to predict. In two thousand and eight, I owned a
437
00:19:44.680 --> 00:19:46.119
lot of real estate, over one hundred homes.
438
00:19:46.160 --> 00:19:47.480
I didn't lose a single one of them.
439
00:19:47.920 --> 00:19:50.920
Because part of the strategy is about insulation. When we
440
00:19:50.960 --> 00:19:54.160
talk about how do you scale well, it means that
441
00:19:54.319 --> 00:19:56.599
when the stock market goes down, the real estate market
442
00:19:56.599 --> 00:19:59.200
actually increases. For example, thirty your averages on four one
443
00:19:59.240 --> 00:20:02.400
ks and iras sit between four and five percent. Most
444
00:20:02.440 --> 00:20:04.839
people don't know that with inflation at three or four percent,
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00:20:05.079 --> 00:20:07.640
you're pretty close to a break even real estate, you
446
00:20:07.680 --> 00:20:10.240
get the game of leverage. Leverage means the bank will
447
00:20:10.240 --> 00:20:12.519
put up eighty percent of the money, so you're going
448
00:20:12.559 --> 00:20:14.640
to whatever the appreciation is. If I go to Florida
449
00:20:14.680 --> 00:20:17.680
where my appreciation is ten percent, then I can multiply
450
00:20:17.759 --> 00:20:19.880
it by five and now making fifty percent. That's how
451
00:20:19.920 --> 00:20:22.680
I'm targeting these sixty percent numbers on average over the
452
00:20:22.759 --> 00:20:25.960
last decade. Is we're able to actually ride that market,
453
00:20:25.960 --> 00:20:28.880
predict that market, and because it moves so slow, it's
454
00:20:28.960 --> 00:20:30.559
very easy to move in and out of it. And
455
00:20:30.599 --> 00:20:32.680
then we're also thirty percent below the median. You know,
456
00:20:32.680 --> 00:20:34.599
the national mediing right now is around four hundred and
457
00:20:34.640 --> 00:20:37.279
thirty grand. My average pursus price is you know, probably
458
00:20:37.319 --> 00:20:39.319
around that two thirty two hundred and fifty thousand dollars
459
00:20:39.359 --> 00:20:42.400
price point. That insulation means that if the market were
460
00:20:42.440 --> 00:20:45.119
to drop, a million dollar house might get cut in half,
461
00:20:45.440 --> 00:20:47.440
a five hundred thousand more house might get cut down
462
00:20:47.480 --> 00:20:49.640
thirty five percent, but a two hundred and fifty thousand
463
00:20:49.640 --> 00:20:51.759
dollar house is going to experience a little bump while
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00:20:51.799 --> 00:20:53.960
rents go up and your cash flow increases.
465
00:20:54.319 --> 00:20:54.839
Wow.
466
00:20:54.960 --> 00:20:57.200
So in terms of leverage, you know what in the
467
00:20:57.240 --> 00:20:59.079
two thousand and eight crash, a lot of people got
468
00:20:59.119 --> 00:21:01.440
who really bad goes. Hey, homes are over leveraged, and
469
00:21:02.279 --> 00:21:05.000
no market is giving all these no money down loans
470
00:21:05.039 --> 00:21:07.680
and all thatzy stuff. So I mean, do you put
471
00:21:07.720 --> 00:21:10.440
standard twenty percent down and use eighty percent of the
472
00:21:10.440 --> 00:21:13.200
bank's money, or because of your size, you try to
473
00:21:13.200 --> 00:21:15.079
get better deals with the banks and get it away.
474
00:21:15.119 --> 00:21:16.319
I don't want a better deal than that.
475
00:21:16.839 --> 00:21:18.720
If they said you can only put ten percent down
476
00:21:18.799 --> 00:21:20.799
or five percent, that actually breaks my model.
477
00:21:21.200 --> 00:21:22.559
Yeah, so there's rules.
478
00:21:22.279 --> 00:21:24.559
That we abide by that actually creates some safety.
479
00:21:24.920 --> 00:21:25.720
You know, it's really weird.
480
00:21:25.759 --> 00:21:28.720
Warren Buffett and his book Snowball, talks about how he
481
00:21:28.759 --> 00:21:31.759
became so wealthy and one of the most important principles
482
00:21:31.759 --> 00:21:33.640
in the book he talks about his margin of error
483
00:21:33.920 --> 00:21:36.480
and he also calls it a safety margin. So, for example,
484
00:21:36.880 --> 00:21:38.680
if I could buy a piece of real estate for
485
00:21:38.720 --> 00:21:42.279
fifty percent off, that's a lot of safety compared to
486
00:21:42.319 --> 00:21:45.160
buying it at market because the market could drop fifty
487
00:21:45.200 --> 00:21:48.279
percent before I'm at risk for losing my first dollar. Well,
488
00:21:48.400 --> 00:21:51.160
very similarly in the game of real estate, because I
489
00:21:51.200 --> 00:21:55.599
have a sixty percent average annual ROI, a lot has
490
00:21:55.680 --> 00:21:57.839
to go wrong for me to even cut that number
491
00:21:57.839 --> 00:22:00.079
in half. So the goal is to make it as
492
00:22:00.119 --> 00:22:03.799
profitable as possible in the safe as zone possible. Because
493
00:22:03.799 --> 00:22:06.200
what that ends up doing is it gives us safety.
494
00:22:06.559 --> 00:22:08.599
I love that make it as profitable as possible and
495
00:22:08.599 --> 00:22:10.839
as safe as zone possible. That sounds like a formula
496
00:22:10.920 --> 00:22:13.960
for success for sure. So you also mentioned I think
497
00:22:13.960 --> 00:22:16.559
at the outset that you're buying these homes, it's this
498
00:22:16.720 --> 00:22:19.279
kind of starter home price range, and you're getting them
499
00:22:19.599 --> 00:22:22.039
more or less around thirty your targets buying homes at
500
00:22:22.079 --> 00:22:23.519
thirty percent under market value?
501
00:22:23.599 --> 00:22:24.200
Was that correct?
502
00:22:24.359 --> 00:22:26.880
Not under market value? Thirty percent below the median?
503
00:22:27.240 --> 00:22:28.119
So the median.
504
00:22:28.400 --> 00:22:30.440
Yeah, So for predictability, if we're going to get at
505
00:22:30.480 --> 00:22:34.000
thirty percent under market, those exist, you can't really do
506
00:22:34.079 --> 00:22:38.240
them in bulk, and every home you lose systematization because
507
00:22:38.279 --> 00:22:42.200
now these homes have to go through individual appraisal, repair,
508
00:22:42.359 --> 00:22:45.119
et cetera. As opposed to me going into a market
509
00:22:45.160 --> 00:22:49.000
and buying five hundred homes and I can order carpet
510
00:22:49.000 --> 00:22:52.480
from China by the role and have everything consistent or
511
00:22:52.480 --> 00:22:55.039
that word homogeneous again with the way that we do
512
00:22:55.119 --> 00:22:58.000
colors and repairs and everything that lends itself to the
513
00:22:58.079 --> 00:22:59.920
systems theory that we leverage in the game.
514
00:23:00.200 --> 00:23:03.200
And you mentioned before you're buying newer homes mostly.
515
00:23:03.279 --> 00:23:05.680
I would say seventy percent of my inventory is five
516
00:23:05.759 --> 00:23:08.920
years old or less, most of them being completely brand.
517
00:23:08.680 --> 00:23:11.400
New, right, So you're not doing a lot of renovation.
518
00:23:11.319 --> 00:23:13.759
Nope, But in certain markets, you know, like one of
519
00:23:13.759 --> 00:23:16.000
the markets that I'm in is Memphis, that's one of
520
00:23:16.000 --> 00:23:18.079
my top five. I buy in the area of what's
521
00:23:18.079 --> 00:23:21.480
called Blue Oval City. It's where Ford has built a
522
00:23:21.640 --> 00:23:25.799
twelve billion dollar plant which produced eleven thousand new jobs,
523
00:23:26.200 --> 00:23:30.920
and they're missing about already seventeen thousand single family homes
524
00:23:30.920 --> 00:23:33.799
in that submarket. What that means is that average home
525
00:23:33.799 --> 00:23:35.359
that I buy for two hundred thousand dollars in the
526
00:23:35.440 --> 00:23:37.200
next five years is probably going to be going for
527
00:23:37.200 --> 00:23:39.759
three hundred and fifty thousand dollars, you know, according to
528
00:23:39.799 --> 00:23:42.480
our data and information. And so that's an example of
529
00:23:42.559 --> 00:23:45.640
drilling down into a market you know that has huge
530
00:23:45.680 --> 00:23:49.640
potential because of a specific economic problem that it's facing.
531
00:23:49.920 --> 00:23:50.319
Wow.
532
00:23:50.400 --> 00:23:53.319
Wow Yeah, and operating at the scale you do with
533
00:23:53.359 --> 00:23:55.240
the team you have, you're able to take that data
534
00:23:55.279 --> 00:23:57.480
to have an approach and really find those sweet spots.
535
00:23:57.519 --> 00:23:59.680
That's amazing. So you imagine Warren Bedfort before in his
536
00:24:00.000 --> 00:24:03.240
Magy for Wealth Building. Let's talk about wealth strategy for
537
00:24:03.240 --> 00:24:06.160
a moment, because even for the individual, and of course
538
00:24:06.279 --> 00:24:08.319
you know you started your career because you're doing all
539
00:24:08.319 --> 00:24:10.839
this telemarketing, you're connecting with these people who have done
540
00:24:10.839 --> 00:24:12.839
all the right things and they're still struggling as they're
541
00:24:12.839 --> 00:24:15.799
approaching retirement, you didn't want to do that. But in general,
542
00:24:15.839 --> 00:24:17.920
for a lot of people, the only way to wealth
543
00:24:18.200 --> 00:24:20.160
for the middle class on our countries be to oma
544
00:24:20.200 --> 00:24:23.000
home and over time it appreciates and if you bought
545
00:24:23.000 --> 00:24:24.480
it at the right time and you write the market,
546
00:24:24.720 --> 00:24:27.279
maybe you do all right. Right, So real estate has
547
00:24:27.359 --> 00:24:30.559
long been considered a wealth building strategy, even at the
548
00:24:30.799 --> 00:24:33.319
lower level. Right, So how do you see that? And
549
00:24:33.680 --> 00:24:36.400
I'm thinking both in terms of people maybe really want
550
00:24:36.440 --> 00:24:38.400
to get into the real estate game and the way
551
00:24:38.440 --> 00:24:41.279
you are, or people who want to invest with somebody
552
00:24:41.400 --> 00:24:43.880
like you, but also thinking of entrepreneurs who are in
553
00:24:43.880 --> 00:24:47.200
other industries or you know, completely different businesses, but you
554
00:24:47.200 --> 00:24:51.039
know it's good to diversify your income sources. Maybe they
555
00:24:51.079 --> 00:24:53.400
want to do the real estate thing on the side,
556
00:24:53.480 --> 00:24:56.000
is a wealth building strategy. They're doing well in their business,
557
00:24:56.000 --> 00:24:58.680
they want to start siphoning off some of that profit
558
00:24:58.759 --> 00:25:02.240
and some of theircutions into something else. And so as
559
00:25:02.240 --> 00:25:04.680
a wealth building strategy, could you talk about real estate?
560
00:25:04.960 --> 00:25:05.279
Yeah?
561
00:25:05.319 --> 00:25:08.400
So four to one K the common strategy everyone uses.
562
00:25:08.519 --> 00:25:11.079
At age sixty five, the average balance is two hundred
563
00:25:11.079 --> 00:25:13.480
and fifty four thousand dollars. If you give that to
564
00:25:13.519 --> 00:25:16.359
your financial planner, they're going to nuitize that around three percent.
565
00:25:16.680 --> 00:25:18.880
You're going to get around six hundred dollars a month
566
00:25:19.160 --> 00:25:20.839
for the rest of your life. Now, you can't retire
567
00:25:20.880 --> 00:25:23.359
on Social Security plus six hundred a month, so that
568
00:25:23.400 --> 00:25:26.960
means that forty year strategy is not good. Meanwhile, the
569
00:25:27.119 --> 00:25:29.880
average equity in the average single family home in our
570
00:25:29.880 --> 00:25:32.400
country right now is three hundred and twenty seven thousand dollars.
571
00:25:32.960 --> 00:25:36.519
What that means is that a forty year intentional retirement
572
00:25:36.559 --> 00:25:40.640
strategy your single family home beats it like it's crazy,
573
00:25:40.880 --> 00:25:42.839
Which is why, at age sixty five, I think the
574
00:25:42.880 --> 00:25:46.759
most common thought that a retire rate is having is
575
00:25:47.319 --> 00:25:50.359
if I had just bought a few more homes, if
576
00:25:50.359 --> 00:25:52.720
I'd bought five more homes over the course last forty years,
577
00:25:52.920 --> 00:25:55.000
I'd probably be worth a couple million dollars, and all
578
00:25:55.000 --> 00:25:56.759
of a sudden, I'd be in a good situation instead
579
00:25:56.759 --> 00:26:00.200
of a bad situation. Well, Stanley Thomas wrote a book
580
00:26:00.240 --> 00:26:03.200
The Millionaire next Door, and he evaluated what created the
581
00:26:03.200 --> 00:26:07.640
most millionaires in this country, and hands down, the one
582
00:26:08.000 --> 00:26:11.519
thing that these what i'll call accidental millionaires did, because
583
00:26:11.519 --> 00:26:14.480
they weren't accidentally millionaires through investing in Tesla and four
584
00:26:14.480 --> 00:26:16.880
to one case in the stock market is they made
585
00:26:16.920 --> 00:26:20.160
one choice different than everybody else in their life. As
586
00:26:20.200 --> 00:26:22.640
it came time to grow and graduate to a bigger
587
00:26:22.640 --> 00:26:25.680
house or downsize, they chose not to sell the house
588
00:26:26.039 --> 00:26:28.440
and put gains towards the new one. They just kept
589
00:26:28.440 --> 00:26:30.799
it as a rental. And so the average person over
590
00:26:30.839 --> 00:26:32.799
forty years will probably move or live in three, four
591
00:26:32.839 --> 00:26:35.440
or five homes. If someone simply made the decision I'm
592
00:26:35.480 --> 00:26:36.799
just going to keep every one of them and turn
593
00:26:36.880 --> 00:26:39.200
it into a rental. By eighty to sixty five, you're
594
00:26:39.200 --> 00:26:41.319
gonna be worth a couple of million dollars. And so
595
00:26:41.400 --> 00:26:43.240
that's just one little thing. Now I take that to
596
00:26:43.279 --> 00:26:46.039
an extreme and say, now let's do it intentionally. Now
597
00:26:46.119 --> 00:26:48.680
let's do it on purpose. For example, if the average
598
00:26:48.720 --> 00:26:50.559
American has three hundred and twenty seven thousand dollars of
599
00:26:50.559 --> 00:26:52.400
equity in their home, they probably can get a home
600
00:26:52.440 --> 00:26:54.519
equity alant of credit for free for two hundred grand.
601
00:26:54.960 --> 00:26:57.640
I could show them how to buy two or three
602
00:26:57.680 --> 00:27:01.160
homes in these markets. And if they just and had
603
00:27:01.160 --> 00:27:04.000
it growing at sixty percent, that what home would turn
604
00:27:04.039 --> 00:27:08.319
into six million dollars for them twenty years from now.
605
00:27:08.799 --> 00:27:12.480
So maybe not very impressive for someone who's sixty years old,
606
00:27:12.480 --> 00:27:15.160
but if someone's listening that is twenty thirty or forty,
607
00:27:15.400 --> 00:27:16.960
it's like, I got news for you. If you have
608
00:27:17.000 --> 00:27:19.519
a home with equity in it, don't pay off your house,
609
00:27:19.839 --> 00:27:22.759
not until you have a passive income that meets your
610
00:27:22.839 --> 00:27:25.559
financial needs. And so this goes very against the grain
611
00:27:25.640 --> 00:27:27.799
of maybe like Dave Ramsey, no debt, get out of
612
00:27:27.799 --> 00:27:29.119
debt as an entrepreneur.
613
00:27:29.119 --> 00:27:29.839
It's the opposite.
614
00:27:29.880 --> 00:27:32.640
It's actually, create as much good debt as possible to
615
00:27:32.680 --> 00:27:35.039
make money for you, and then your good debts can
616
00:27:35.319 --> 00:27:37.240
you know, pay for all your stuff cash, pay off
617
00:27:37.240 --> 00:27:38.079
that house eventially.
618
00:27:38.519 --> 00:27:40.359
Well, in terms of the idea of using other people's
619
00:27:40.359 --> 00:27:42.440
money or using the bank's money, that seems like a
620
00:27:42.480 --> 00:27:45.640
pretty solid approach to using the bank's money. Now it's
621
00:27:45.680 --> 00:27:49.000
a lower risk approach anyway, to using the bank's money. Yeah,
622
00:27:49.039 --> 00:27:52.240
absolutely So, just to distinguish your approach here a bit,
623
00:27:52.599 --> 00:27:55.880
and not to cast this version on other models necessarily,
624
00:27:56.200 --> 00:27:57.799
but you know, there's a whole thing of flipping, the
625
00:27:57.839 --> 00:28:01.359
whole world of flipping, and that's another and not your model.
626
00:28:01.599 --> 00:28:03.960
And then there's the whole notion of being able to
627
00:28:04.079 --> 00:28:06.599
buy real estate with no money down and move on
628
00:28:06.640 --> 00:28:08.759
the next thing and no money out of pocket, these ideas,
629
00:28:08.960 --> 00:28:10.119
how do you view all that?
630
00:28:10.559 --> 00:28:12.559
Well, first of all, I love all of it, you know,
631
00:28:12.599 --> 00:28:14.400
because I do have two companies. One is I just
632
00:28:14.440 --> 00:28:16.720
buy real estate for people and build their portfolios and
633
00:28:16.720 --> 00:28:19.880
we're partners. And then I have some of my you know,
634
00:28:19.960 --> 00:28:21.480
some of my other folks that are coming in to
635
00:28:21.599 --> 00:28:23.079
me and saying, hey, Chris, I don't have equity in
636
00:28:23.119 --> 00:28:24.880
a home, I don't have a four o kid, I
637
00:28:24.920 --> 00:28:28.119
don't have wealth to transfer into a portfolio. I'm kind
638
00:28:28.119 --> 00:28:30.599
of starting like you did, Chris, with nothing. And I say, well,
639
00:28:31.079 --> 00:28:33.119
then you need to coach and a mentor, just like
640
00:28:33.240 --> 00:28:35.480
I had in the beginning that knows how to do
641
00:28:35.480 --> 00:28:38.039
these no money done strategies. After all, thirty three hundred
642
00:28:38.079 --> 00:28:39.640
dollars is all it took for me to create a
643
00:28:39.680 --> 00:28:42.880
one point six million dollar net worth as a college grad.
644
00:28:43.440 --> 00:28:45.480
And so there are people that will get in touch
645
00:28:45.519 --> 00:28:47.599
with my company and they'll say, hey, either I do
646
00:28:47.680 --> 00:28:50.000
have money and I would like for you to help
647
00:28:50.039 --> 00:28:52.519
me invest it. Let's partner up and create these great returns,
648
00:28:52.640 --> 00:28:54.279
and others will say I don't got the dough, but
649
00:28:54.960 --> 00:28:57.160
will you teach me how to flip and wholesale or
650
00:28:57.240 --> 00:28:59.680
lease option or do these other strategies. That's how I
651
00:28:59.720 --> 00:29:02.039
build all my wealth in the beginning. So for example,
652
00:29:02.240 --> 00:29:04.359
you know, one of my coaches on my team, he's
653
00:29:04.359 --> 00:29:08.079
done over seven hundred no money down deals. So my
654
00:29:08.240 --> 00:29:11.640
team are we're experts, highly qualified, really good at what
655
00:29:11.680 --> 00:29:13.640
we do. And so for those that just say, hey,
656
00:29:13.839 --> 00:29:16.039
I'm starting behind on the resource game, It's like, great,
657
00:29:16.400 --> 00:29:17.920
then we can coach you and show you how to
658
00:29:17.920 --> 00:29:18.720
do these deals too.
659
00:29:19.000 --> 00:29:20.640
So I know you have you know, kind of coaching
660
00:29:20.680 --> 00:29:21.960
and you have do it for you and you have
661
00:29:22.000 --> 00:29:24.559
different and you have your funds and your real estate funds.
662
00:29:24.720 --> 00:29:27.279
You know, for the entrepreneur who's pretty focused on building
663
00:29:27.440 --> 00:29:29.359
his or her business right, and that takes a lot
664
00:29:29.400 --> 00:29:31.960
of bandwidth, you know, how much can you get into
665
00:29:32.000 --> 00:29:34.519
something like what you're doing? I mean, how much do
666
00:29:34.559 --> 00:29:36.279
you have time do you have to day to kind
667
00:29:36.279 --> 00:29:38.480
of really master in that game, because you know, being
668
00:29:38.519 --> 00:29:40.599
a kind of a diletant and dabbling and stuff can
669
00:29:40.640 --> 00:29:41.279
be a failure.
670
00:29:41.400 --> 00:29:41.599
Right.
671
00:29:41.839 --> 00:29:44.559
Yeah, Well, here's my rule of thumb for people. I
672
00:29:44.599 --> 00:29:47.640
always try to help people to delineate whether they should
673
00:29:47.680 --> 00:29:49.920
become a real estate investor that is active or a
674
00:29:50.000 --> 00:29:53.000
passive real estate investor. And my rule of thumb is simple.
675
00:29:53.559 --> 00:29:56.640
Malcolm Gladwell says you need ten thousand hours to master something.
676
00:29:56.960 --> 00:29:59.440
If you're a do it yourselfer, you better be signing
677
00:29:59.519 --> 00:30:02.440
up for the welcome glad Well ten thousand hours, which
678
00:30:02.480 --> 00:30:04.599
means that it's really a job. It's not passive, and
679
00:30:04.599 --> 00:30:06.480
it's not on the side. When I talk to my
680
00:30:06.559 --> 00:30:08.319
partners and I ask them, it's like, well, which are
681
00:30:08.359 --> 00:30:10.519
you Those that are like do it for me? What
682
00:30:10.559 --> 00:30:12.480
they do is I say, well, good, then partner with
683
00:30:12.559 --> 00:30:14.960
someone like me. I'll do one hundred percent of the
684
00:30:15.000 --> 00:30:18.200
work and then we'll split the profits equally. And that's
685
00:30:18.240 --> 00:30:20.759
actually a model fleet that I use in every area
686
00:30:20.759 --> 00:30:23.039
of my life. So I own companies in all sorts
687
00:30:23.079 --> 00:30:26.920
of industries. I own franchises, restaurants, all sorts of different
688
00:30:27.000 --> 00:30:29.160
types of companies, you know, mineral and.
689
00:30:29.079 --> 00:30:30.119
Gold and oil.
690
00:30:30.519 --> 00:30:32.119
And when I look at all these companies in my
691
00:30:32.200 --> 00:30:36.000
tech plays, I never allowed myself to venture into a
692
00:30:36.039 --> 00:30:38.880
market I didn't understand without partnering with somebody. So my
693
00:30:39.000 --> 00:30:41.519
rule of thumb is simple. If you want one hundred
694
00:30:41.519 --> 00:30:43.839
percent of the gains. If you want the whole grape,
695
00:30:44.119 --> 00:30:46.559
then you need to pay your ten thousand Malcolm Glawow hours.
696
00:30:46.920 --> 00:30:48.799
If you are going into an area you don't have
697
00:30:48.839 --> 00:30:52.519
expertise in, then instead go for a slice of watermelon.
698
00:30:52.640 --> 00:30:54.359
And by the way, a slice of watermelon is usually a.
699
00:30:54.359 --> 00:30:55.440
Lot bigger than a grape.
700
00:30:55.759 --> 00:30:58.640
The watermelon is an analogy for finding an expert that
701
00:30:58.680 --> 00:31:00.960
doesn't just have ten thousand hours, has one hundred thousand.
702
00:31:01.400 --> 00:31:04.319
Me and my team, I've got one hundred thousand Malcolm
703
00:31:04.319 --> 00:31:06.799
Gladial hours in the game of single family. And so
704
00:31:07.119 --> 00:31:09.720
it's really simple. If you're not going to pay the
705
00:31:09.759 --> 00:31:12.559
price for the expertise, then partner with an expert. If
706
00:31:12.559 --> 00:31:15.319
you're willing to pay the price for expertise, then get
707
00:31:15.359 --> 00:31:17.119
a great mentor and learn how to do it yourself.
708
00:31:17.480 --> 00:31:21.119
Wow, that is incredibly sound advice. So I'm just soaking
709
00:31:21.119 --> 00:31:24.359
this in myself, both for audience and personally. So there
710
00:31:24.359 --> 00:31:27.799
are many wealth teachers that talk about one way or
711
00:31:27.799 --> 00:31:30.559
another we have like this internal blueprint, or it should
712
00:31:30.559 --> 00:31:32.920
be like a thermostat. We inherit it from our family,
713
00:31:32.960 --> 00:31:35.160
from our culture, and you know, we kind of have
714
00:31:35.279 --> 00:31:38.559
permission or we deserve to earn up to hear right now,
715
00:31:38.680 --> 00:31:41.240
we shouldn't earn less than us heater And we're in
716
00:31:41.319 --> 00:31:43.759
there right and if we started the less, you know,
717
00:31:43.799 --> 00:31:45.799
the heater comes on the fire under our butt. We
718
00:31:45.880 --> 00:31:48.000
get busy, we get back into that zone. But if
719
00:31:48.000 --> 00:31:51.000
we start making too much, we get uncomfortable. We somehow
720
00:31:51.039 --> 00:31:52.799
don't have the mindset cultural permission.
721
00:31:52.920 --> 00:31:54.640
There's a barometer that's been set.
722
00:31:54.759 --> 00:31:57.079
Yeah, it's been set, and we have that blueprint in
723
00:31:57.160 --> 00:31:59.000
us and you know, one of the real strategies are
724
00:31:59.079 --> 00:32:02.079
change is not just been going and changed the blueprint.
725
00:32:02.279 --> 00:32:05.400
So I wonder in your experience, was there a pathway
726
00:32:05.480 --> 00:32:08.160
to you being able to imagine that you could kind
727
00:32:08.160 --> 00:32:10.480
of create the wealth for yourself that you have created
728
00:32:10.559 --> 00:32:12.759
and now creating for others that you know from your
729
00:32:12.839 --> 00:32:15.640
upbringing and what it took to imagine yourself. Can you
730
00:32:15.640 --> 00:32:17.640
give yourself permission or what I just have the vision
731
00:32:17.680 --> 00:32:19.440
to be able to create wealth in this way?
732
00:32:19.680 --> 00:32:22.200
Two things on that. The first one is there's two
733
00:32:22.279 --> 00:32:24.480
types of books someone should always be reading. The first
734
00:32:24.519 --> 00:32:26.759
one is how to go deeper in the trade that
735
00:32:26.799 --> 00:32:29.640
you're mastering. Because we all have a Malcolm Gladwell something
736
00:32:29.640 --> 00:32:31.880
that we're mastering, and you should read what other thought
737
00:32:31.960 --> 00:32:35.200
leaders say about that on your journey. Personal development books,
738
00:32:35.279 --> 00:32:38.920
anything that deals with psychology or expansion of self. You
739
00:32:38.960 --> 00:32:42.079
will always get a huge ROI in every aspect of
740
00:32:42.119 --> 00:32:44.359
your life by reading these books. I never stop reading
741
00:32:44.400 --> 00:32:47.720
those books now. Aside from that, when I was young
742
00:32:47.759 --> 00:32:51.200
and getting started out, I made one crucial decision that
743
00:32:51.359 --> 00:32:54.319
really affected me for the rest of my life. When
744
00:32:54.359 --> 00:32:56.480
I was a telemarketer. That first year I made eighteen
745
00:32:56.519 --> 00:32:59.160
thousand dollars, was more money than I had ever made
746
00:32:59.160 --> 00:33:01.759
before fleet but as a college kid, it wasn't enough
747
00:33:01.759 --> 00:33:04.000
to keep my head above water eater, And so what
748
00:33:04.039 --> 00:33:06.160
I ended up doing was I said, I want to
749
00:33:06.240 --> 00:33:09.319
manifest a goal for this next year. This telemarketing job
750
00:33:09.359 --> 00:33:11.559
had a commission component, there was a sales component. I
751
00:33:11.599 --> 00:33:13.599
sucked at it, and I said, you know, if I'm
752
00:33:13.599 --> 00:33:15.160
going to be here, I might as well get good
753
00:33:15.200 --> 00:33:18.119
at this. And since the average American at the time
754
00:33:18.160 --> 00:33:21.240
makes forty four thousand dollars a year and I only
755
00:33:21.240 --> 00:33:23.599
made eighteen thousand last year, I'm going to choose to
756
00:33:23.599 --> 00:33:25.000
believe that I can double my income.
757
00:33:25.359 --> 00:33:27.240
I believe I'm at least average. I don't know. I'm
758
00:33:27.279 --> 00:33:28.039
just young and dumb.
759
00:33:28.079 --> 00:33:30.440
I don't really know, but I believe I'm at least average. Well,
760
00:33:30.519 --> 00:33:33.680
I spent that entire year no different than an olympian
761
00:33:33.880 --> 00:33:37.680
that meditates and practices what they want in their head.
762
00:33:37.799 --> 00:33:40.240
Stanford did a study and they said that half the
763
00:33:40.279 --> 00:33:43.079
Stanford team actually practiced mentally their free throw shots, the
764
00:33:43.160 --> 00:33:45.920
other half actually did it, and who had the greatest
765
00:33:46.440 --> 00:33:50.160
actual performance increase at the end of the season. It
766
00:33:50.200 --> 00:33:53.200
was those who had practiced mentally where they could practice perfect. Well,
767
00:33:53.240 --> 00:33:55.200
every day I practiced, I double may incme, I double
768
00:33:55.240 --> 00:33:56.880
maan come, I double may income, I double may incme.
769
00:33:56.880 --> 00:33:58.720
At the end of the year, I made fifty thousand dollars.
770
00:33:59.200 --> 00:34:01.000
I was in a job, in a situation where it
771
00:34:01.039 --> 00:34:03.599
was possible, and I did it. And because I had
772
00:34:03.599 --> 00:34:06.000
three hundred and sixty five days of believing that I
773
00:34:06.039 --> 00:34:08.639
could that, when it came to the next year, I said, well,
774
00:34:08.719 --> 00:34:10.280
I should just do that again, because.
775
00:34:10.079 --> 00:34:11.440
I'm so habituated.
776
00:34:11.480 --> 00:34:14.159
In other words, we don't really get what we believe
777
00:34:14.199 --> 00:34:16.400
we can get. We get what we believe in. We
778
00:34:16.519 --> 00:34:19.519
practice we can get and so I practice flawlessly for
779
00:34:19.519 --> 00:34:21.119
another three hundred and sixty five days, and I made
780
00:34:21.119 --> 00:34:22.440
one hundred grand the next year, and the year after
781
00:34:22.440 --> 00:34:23.800
I made a quarter million. The year after I made
782
00:34:23.840 --> 00:34:27.199
a half a million. And what I learned is that
783
00:34:27.519 --> 00:34:30.519
I get what I believe in practice, and so that's
784
00:34:30.559 --> 00:34:33.000
actually become a huge part of my personal financial and
785
00:34:33.039 --> 00:34:36.480
overall psychology, which is in the late way. And I
786
00:34:36.559 --> 00:34:40.599
are taught that you can create something in your mind
787
00:34:40.880 --> 00:34:44.000
so real, like a placebo, where if you can allow
788
00:34:44.000 --> 00:34:48.039
yourself to feel it energetically and emotionally, it's no less
789
00:34:48.079 --> 00:34:50.360
real in the mind than reality. In other words, your
790
00:34:50.400 --> 00:34:52.519
dream state and your actual state. The mind can't tell
791
00:34:52.559 --> 00:34:56.159
the difference, and the subconscious mind is ultimately what's determining
792
00:34:56.159 --> 00:34:58.679
what we perceive in the real world, which is why
793
00:34:59.119 --> 00:35:01.960
everyone needs to become aware of the limiting beliefs and
794
00:35:02.039 --> 00:35:05.039
stop saying things that counteract what they want, and every
795
00:35:05.119 --> 00:35:07.400
day have mental practice time. I do it in meditation,
796
00:35:07.440 --> 00:35:10.559
where I practice what I want everything I've never had
797
00:35:10.920 --> 00:35:14.239
I practice here. For example, since January fifteenth, two thousand
798
00:35:14.239 --> 00:35:16.760
and nine, I have practiced that I'm a billionaire. I'm
799
00:35:16.840 --> 00:35:19.719
in actuality, not a billionaire yet, but I have a
800
00:35:19.719 --> 00:35:21.280
path and I know how I'm going to get there,
801
00:35:21.320 --> 00:35:23.119
and I think I'm pretty sure when it's going to happen.
802
00:35:23.639 --> 00:35:25.880
But I've been practicing it since two thousand and nine,
803
00:35:25.880 --> 00:35:29.480
which means I've been at it for sixteen years. But
804
00:35:29.719 --> 00:35:32.840
here inside internally, when I become a billionaire, it won't
805
00:35:32.840 --> 00:35:34.840
shock me because I've been practicing it for such a
806
00:35:34.880 --> 00:35:35.400
long time.
807
00:35:35.639 --> 00:35:38.199
Well, that's incredibly sage advice. You know, you're kind of
808
00:35:38.199 --> 00:35:40.320
reverencing the power of the mind there and what some
809
00:35:40.360 --> 00:35:44.480
people reference as manifesting or manifestation. And the problem with
810
00:35:44.519 --> 00:35:47.840
some of the manifestation world is they get the belief,
811
00:35:47.960 --> 00:35:50.079
they get the mind part, but they forget about the
812
00:35:50.119 --> 00:35:52.599
practice part, and that you have to practice and practice
813
00:35:52.599 --> 00:35:55.400
and practice, and that's what actually changes on Neural architecture
814
00:35:55.519 --> 00:35:59.280
changes energy and changes our relationship to the world. It
815
00:35:59.320 --> 00:36:00.280
takes that practice.
816
00:36:00.440 --> 00:36:02.800
Well, and not just practice, just taking action. Because the
817
00:36:02.880 --> 00:36:05.559
reason why we go internally is to develop a frequency.
818
00:36:05.920 --> 00:36:08.280
When I see myself with the object of my desire,
819
00:36:08.320 --> 00:36:10.760
when I see myself feeling it no less real than
820
00:36:10.800 --> 00:36:13.599
when it's in the real world, then I'm generating a frequency.
821
00:36:13.639 --> 00:36:17.000
That frequency will allow me to meet people, have conversations.
822
00:36:17.000 --> 00:36:18.440
But I got to take action. It's like, Wow, that's
823
00:36:18.519 --> 00:36:20.760
really weird. I' met this master of my meeting philt
824
00:36:20.760 --> 00:36:22.639
inspired to talk to this person. No, I got nervous
825
00:36:22.639 --> 00:36:24.719
and I didn't. Well, you defied the frequency that you've
826
00:36:24.760 --> 00:36:28.039
been practicing. We generate that frequency so that we can
827
00:36:28.079 --> 00:36:31.840
go find the resonating matching frequency, and that's what, in hindsight,
828
00:36:31.880 --> 00:36:33.800
will show us the breadcrumbs to get what we want.
829
00:36:34.280 --> 00:36:34.599
Yeah.
830
00:36:34.639 --> 00:36:37.679
Absolutely, and generally, I mean, if we're really practicing, probably
831
00:36:37.719 --> 00:36:39.800
the actions are going to follow. But you're absolutely right.
832
00:36:39.880 --> 00:36:42.360
I mean, just visualizing it again and again, there's got
833
00:36:42.360 --> 00:36:43.960
a Rolls Royce is going to show up in your drive.
834
00:36:44.000 --> 00:36:45.960
Where is that going to happen if you're not taking
835
00:36:46.079 --> 00:36:48.159
the actions they create the wealth which you can buy
836
00:36:48.199 --> 00:36:51.320
a Rolls Royce. Absolutely, So what about you know, I
837
00:36:51.320 --> 00:36:53.960
think a lot of entrepreneurs, even if they're early to
838
00:36:54.000 --> 00:36:56.119
market with a new idea, or they're trying to start
839
00:36:56.199 --> 00:36:58.119
what market to be in, or you know, they worry
840
00:36:58.119 --> 00:37:00.800
a lot about the competition. And I get the sense
841
00:37:00.840 --> 00:37:02.719
when I was listening to I mean, I know there's
842
00:37:02.719 --> 00:37:05.239
a lot of big real estate people out there, and
843
00:37:05.320 --> 00:37:07.800
teachers of the real estate game and so forth. But
844
00:37:08.039 --> 00:37:11.599
it sounds like you've narrowed in our approach where I
845
00:37:11.760 --> 00:37:14.159
doubt if you're that worried about colle I could be wrong.
846
00:37:14.239 --> 00:37:16.280
Maybe they have competitors in the same niche you are,
847
00:37:16.320 --> 00:37:18.360
But it sounds to me like you've found your way
848
00:37:18.440 --> 00:37:20.480
into a niche where you don't have a lot of competition.
849
00:37:21.039 --> 00:37:21.239
Yeah.
850
00:37:21.239 --> 00:37:23.519
Actually there's a secret there, which is that if you
851
00:37:23.559 --> 00:37:25.800
will niche down to be in a place that no
852
00:37:25.840 --> 00:37:27.119
one else is. And by the way, when you look
853
00:37:27.159 --> 00:37:30.239
at my niche, it's like scaling single family. In my industry,
854
00:37:30.280 --> 00:37:34.920
everyone says crazy, can't be done, impossible, And that was
855
00:37:35.000 --> 00:37:38.599
the clue that if I could solve the impossible, that
856
00:37:38.840 --> 00:37:42.159
I could build something meaningful there. So I actually selected
857
00:37:42.199 --> 00:37:44.800
it knowing that everyone said it couldn't be done. And
858
00:37:44.840 --> 00:37:47.519
the reality is, if you can solve the impossible that
859
00:37:47.519 --> 00:37:49.360
no one else is willing to, then you get to
860
00:37:49.440 --> 00:37:52.199
reap a disproportionate amount of reward for doing that.
861
00:37:52.320 --> 00:37:55.000
So that was by design. Wow.
862
00:37:55.400 --> 00:37:58.159
So you mentioned before that you have employees, You have
863
00:37:58.400 --> 00:38:01.880
used contractors, you also work with agencies and various kinds
864
00:38:01.880 --> 00:38:04.519
and so forth. But I assume within your company you
865
00:38:04.519 --> 00:38:07.199
do have some employees, So I'm curious about the culture
866
00:38:07.280 --> 00:38:09.239
and how important that is to you, the kind of
867
00:38:09.280 --> 00:38:11.559
company you have and the company you lead, and your
868
00:38:11.599 --> 00:38:14.000
people and the culture you're creating, and even the people
869
00:38:14.039 --> 00:38:16.760
you partner with. I'm talking about your investors necessarily, but
870
00:38:16.840 --> 00:38:19.280
the agencies and so forth that you partner with, whether
871
00:38:19.320 --> 00:38:22.039
there's an alignment of culture there, and how that has
872
00:38:22.079 --> 00:38:24.559
to do with scale and creating culture that's scalable as
873
00:38:24.599 --> 00:38:28.280
well as the systems and the repeatable processes that are scalable.
874
00:38:28.599 --> 00:38:31.840
If you don't have a designed culture, the people you
875
00:38:31.960 --> 00:38:34.960
hire will create it for you. And anytime you put
876
00:38:34.960 --> 00:38:37.679
a mix of good humans together, you're going to get
877
00:38:37.719 --> 00:38:40.239
a mixed culture. I think it was important to have
878
00:38:40.280 --> 00:38:44.199
a good culture a decade ago. Today it's especially with
879
00:38:44.679 --> 00:38:48.559
bringing together Gen Z and Millennials. They expect it and
880
00:38:48.599 --> 00:38:52.039
they require it. And so my company has a culture committee.
881
00:38:52.280 --> 00:38:54.559
My CEO leads up exactly who we are who or
882
00:38:54.559 --> 00:38:56.719
not what the culture is. I think part of that
883
00:38:56.800 --> 00:39:00.360
culture is really defining precisely who we are and then
884
00:39:00.400 --> 00:39:02.119
we stick to it, and then you let go of
885
00:39:02.119 --> 00:39:05.119
anyone that actually doesn't meet that culture. And the stronger
886
00:39:05.159 --> 00:39:06.840
the culture, the harder it is to be a part
887
00:39:06.840 --> 00:39:10.000
of it, the more powerful that culture will be. And
888
00:39:10.079 --> 00:39:12.960
so culture is actually a really important finnamic inside our company.
889
00:39:13.000 --> 00:39:16.199
When culture has been weak, drama has been high, and
890
00:39:16.320 --> 00:39:20.960
drama is the most expensive, invisible a line item on
891
00:39:21.000 --> 00:39:24.320
the balance sheet. And so culture is what you do
892
00:39:24.400 --> 00:39:25.559
to combat drama.
893
00:39:25.920 --> 00:39:29.079
Yeah, my early consulting career for almost two decades was
894
00:39:29.119 --> 00:39:33.039
all by helping companies eliminate the drama inside the organizations
895
00:39:33.039 --> 00:39:33.840
and created no drama.
896
00:39:33.880 --> 00:39:35.159
If you don't know who you are and you don't
897
00:39:35.159 --> 00:39:36.960
know what you stand for, then you get drama as
898
00:39:37.000 --> 00:39:40.440
a byproduct, as a tax saying you haven't invested in
899
00:39:40.480 --> 00:39:41.000
your culture.
900
00:39:41.519 --> 00:39:45.280
Absolutely, So what were your strategies and your steps as
901
00:39:45.360 --> 00:39:48.679
you've built your business and scaled to actually create that culture?
902
00:39:48.960 --> 00:39:52.480
I mean, you embodied something yourself and you learn that,
903
00:39:52.599 --> 00:39:55.159
you follow the bread crumbs of other success, and you
904
00:39:55.239 --> 00:39:58.199
got a sense of what a high performing cult, no drama,
905
00:39:58.320 --> 00:40:01.679
a highly accountable, high performing culture would be. How did
906
00:40:01.679 --> 00:40:04.440
you then build that into your team and your company.
907
00:40:04.679 --> 00:40:07.679
First of all, there's great companies out there, No rules,
908
00:40:07.760 --> 00:40:10.559
the story of Netflix. Cynics got a great book out
909
00:40:10.599 --> 00:40:14.039
there on the Infinite Game. There's fantastic books to read
910
00:40:14.519 --> 00:40:16.559
that will help you witness the cultures of others. And
911
00:40:16.559 --> 00:40:18.480
I think it's important to be inspired by other great
912
00:40:18.480 --> 00:40:21.880
cultures before you can sit down and then design your culture.
913
00:40:22.159 --> 00:40:24.639
The culture shouldn't be too complicated, you know. I think
914
00:40:24.679 --> 00:40:27.599
our culture has eight tenants, which is probably just even
915
00:40:27.599 --> 00:40:30.440
a couple too many, But in our it doesn't matter
916
00:40:30.440 --> 00:40:32.400
if you have one unless you actually teach it and
917
00:40:32.480 --> 00:40:35.039
reward it. So in our company, in our weekly meetings,
918
00:40:35.159 --> 00:40:38.679
our monthly meetings, and our quarterly meetings, culture is always
919
00:40:38.920 --> 00:40:42.199
brought in to what we do. And then the other
920
00:40:42.199 --> 00:40:44.599
part of culture is if you don't enforce it, then
921
00:40:44.800 --> 00:40:48.039
everyone understands that it's fake, it's not real, it's lip service,
922
00:40:48.079 --> 00:40:49.320
and then no one will treat.
923
00:40:49.079 --> 00:40:49.639
It as real.
924
00:40:50.119 --> 00:40:53.159
And so that's how I'd go about finding one, building
925
00:40:53.159 --> 00:40:55.079
one and getting inspired by the ones, and then whatever
926
00:40:55.119 --> 00:40:56.920
you do, sit down, design it and then.
927
00:40:56.880 --> 00:40:58.119
Enforce it whatever it is.
928
00:40:58.559 --> 00:41:01.639
That also means hardest decisions they've ever had to make
929
00:41:01.679 --> 00:41:05.119
regarding culture fleet is that sometimes you hire someone that's
930
00:41:05.159 --> 00:41:07.760
really competent, but they don't fit the culture. If they're
931
00:41:07.760 --> 00:41:11.239
really good at what they do, fire them. Competency cannot
932
00:41:11.280 --> 00:41:15.039
make up for a non culture fit, and so I
933
00:41:15.159 --> 00:41:17.880
expect competency, but that's not how you get hired on.
934
00:41:18.239 --> 00:41:20.480
In fact, even if you read a you know, when
935
00:41:20.480 --> 00:41:23.199
we do our job postings, we always also post the
936
00:41:23.199 --> 00:41:25.840
culture so that before your first meeting, they've already been
937
00:41:25.880 --> 00:41:28.239
exposed to it, where they can already pre select in
938
00:41:28.360 --> 00:41:30.000
or out on whether or not they even agree with
939
00:41:30.000 --> 00:41:32.360
what the company believes in. But that's been some of
940
00:41:32.400 --> 00:41:35.400
the most important decisions that we've made, is firing really
941
00:41:35.400 --> 00:41:37.559
competent people because they weren't a cultural fit, because there
942
00:41:37.559 --> 00:41:39.760
will always be damaging costs to the company when you
943
00:41:39.800 --> 00:41:40.079
do that.
944
00:41:40.480 --> 00:41:43.119
Yeah. In fact, in some ways, the most toxic employees
945
00:41:43.159 --> 00:41:44.800
are highly competent, highly.
946
00:41:44.679 --> 00:41:47.000
Yes every time culture.
947
00:41:47.079 --> 00:41:48.639
And that's why we wrestle. We're like, how can I
948
00:41:48.760 --> 00:41:50.519
let this person go? They're so dang good at what
949
00:41:50.559 --> 00:41:52.239
they do, And I'm like, yeah, but if they're not
950
00:41:52.280 --> 00:41:54.599
a cultural fit, then you've made your choice and you
951
00:41:54.639 --> 00:41:55.920
will be rewarded with drama.
952
00:41:56.239 --> 00:41:56.480
Yeah.
953
00:41:56.519 --> 00:41:57.960
At the other end of the scale, you have the
954
00:41:58.000 --> 00:42:00.880
cultural fit, the person everybody likes, they just don't get
955
00:42:00.880 --> 00:42:01.239
the job.
956
00:42:01.440 --> 00:42:03.559
If you got the person that is like like the
957
00:42:03.679 --> 00:42:07.519
mask at for culture and has no competency, you also mishired. Yeah,
958
00:42:07.559 --> 00:42:09.239
and Tony say says it best, which is.
959
00:42:09.679 --> 00:42:11.840
You know, higher, slow, fire fast, right?
960
00:42:12.079 --> 00:42:15.960
Yeah, great, so much there. So were there any steps
961
00:42:15.960 --> 00:42:18.559
along the way when you were small? I assume you
962
00:42:18.719 --> 00:42:20.760
kind of start off by yourself. Obviously you were a
963
00:42:20.760 --> 00:42:23.960
solopreneur doing real estate investing, and then you probably started
964
00:42:23.960 --> 00:42:25.440
to build a bit of a team around you.
965
00:42:25.400 --> 00:42:26.039
Of some kind.
966
00:42:26.519 --> 00:42:29.440
Was there any time that you got the potential for
967
00:42:29.599 --> 00:42:31.719
scale or the specter of scale as you saw your
968
00:42:31.719 --> 00:42:34.920
business expanding, you saw the possibilities that fear set in
969
00:42:35.400 --> 00:42:37.440
that who am I to run this big company?
970
00:42:37.519 --> 00:42:38.360
Or how am I going to?
971
00:42:38.360 --> 00:42:41.239
You know, like, was there any stages of fear you
972
00:42:41.280 --> 00:42:42.039
had to break through?
973
00:42:42.159 --> 00:42:44.400
I think I did one thing opposite the most.
974
00:42:44.559 --> 00:42:47.199
The reason why a lot of entrepreneurs don't scale is
975
00:42:47.239 --> 00:42:50.320
because they have trust issues. They really have this mindset
976
00:42:50.360 --> 00:42:53.280
that they're the best person for every job in their company.
977
00:42:53.320 --> 00:42:56.000
And when you believe that, when you hire people, you
978
00:42:56.079 --> 00:42:59.320
end up hiring people down that you can control. And
979
00:42:59.360 --> 00:43:01.320
you think you're small because you're saving money and it
980
00:43:01.320 --> 00:43:03.679
looks good on the P and L, but what you're
981
00:43:03.719 --> 00:43:06.559
getting are people that are not free thinkers when the
982
00:43:06.559 --> 00:43:07.880
reality is there's people out there that.
983
00:43:07.840 --> 00:43:08.960
Can do the job better than you.
984
00:43:09.320 --> 00:43:11.719
And so I had to break free that mindset because
985
00:43:11.760 --> 00:43:13.559
in the beginning, I had this belief that if you
986
00:43:13.599 --> 00:43:15.320
want something done right, you have to do it yourself.
987
00:43:15.320 --> 00:43:17.760
And my dad taught me that as a German carpenter
988
00:43:18.159 --> 00:43:20.280
running his own company. And I remember just being a
989
00:43:20.320 --> 00:43:22.599
teenager hanging out with my dad, and I remember I
990
00:43:22.599 --> 00:43:24.400
would also answer the phones in the morning, and all
991
00:43:24.440 --> 00:43:26.039
sorts of people wanted to work with my dad.
992
00:43:26.039 --> 00:43:27.000
And I remember when.
993
00:43:26.840 --> 00:43:28.679
I said, Dad, we should scale, we should I didn't
994
00:43:28.719 --> 00:43:30.320
use those words as sixteen, but I said, Dad, we
995
00:43:30.320 --> 00:43:31.400
should expand the business.
996
00:43:31.440 --> 00:43:32.079
We should grow it.
997
00:43:32.239 --> 00:43:34.079
We should hire another team, to have two teams going
998
00:43:34.079 --> 00:43:35.639
at the same time. And my dad said, I'll never
999
00:43:35.679 --> 00:43:37.920
forget it. He said, if you want something done right,
1000
00:43:37.960 --> 00:43:39.960
you do it yourself. I did it his way until
1001
00:43:40.000 --> 00:43:42.679
I was twenty five years old, until one day the
1002
00:43:42.760 --> 00:43:46.280
revelation hit me. I'm going crazy. I'm doing everything. I'm
1003
00:43:46.280 --> 00:43:48.840
doing too much. I'm a full time student and I've
1004
00:43:48.880 --> 00:43:50.199
got a full time job, and I have a full
1005
00:43:50.199 --> 00:43:52.000
time business and I never see my brand new wife.
1006
00:43:52.000 --> 00:43:52.960
And I was going crazy.
1007
00:43:53.159 --> 00:43:55.800
And I said, maybe Dad was wrong, and I remember
1008
00:43:55.840 --> 00:43:57.880
when I wrote this down, if you want something done right,
1009
00:43:58.280 --> 00:44:03.800
don't do it yourself, and that became my motto for
1010
00:44:04.000 --> 00:44:06.639
everything in business and scale. And a couple summers ago,
1011
00:44:06.760 --> 00:44:08.239
is hanging out with a billionaire friend of mine sould
1012
00:44:08.280 --> 00:44:11.639
this company for one point six billion, and I remember
1013
00:44:11.679 --> 00:44:15.559
asking them, David like, what's your job now in your company? Says,
1014
00:44:15.559 --> 00:44:18.079
if I do it right, I don't have one. And
1015
00:44:18.119 --> 00:44:21.079
what he was exemplifying in the highest order was if
1016
00:44:21.119 --> 00:44:23.599
you want something done right, find the very best people.
1017
00:44:23.679 --> 00:44:25.599
So Richard Branson says the same thing. Surround yourself with
1018
00:44:25.599 --> 00:44:27.159
the very best people and get out of your way,
1019
00:44:27.400 --> 00:44:27.840
get out of.
1020
00:44:27.800 --> 00:44:28.400
Their way, right.
1021
00:44:28.840 --> 00:44:30.679
Yeah. I think there's two aspects of that. One is
1022
00:44:30.760 --> 00:44:33.000
hiring exactly that I hire the very best people and
1023
00:44:33.039 --> 00:44:35.320
get out of their way, and surround yourself with people
1024
00:44:35.360 --> 00:44:37.239
who are smart in you because there's a lot of
1025
00:44:37.239 --> 00:44:38.880
things about your business that there's a lot of people
1026
00:44:38.960 --> 00:44:40.800
that can do a lot better than we can. But
1027
00:44:40.960 --> 00:44:43.000
you know, especially early on in the business, a lot
1028
00:44:43.039 --> 00:44:45.960
of entrepreneurs were perfectionists and at least after some aspect
1029
00:44:46.039 --> 00:44:48.320
of our product or our business. But I love what
1030
00:44:48.400 --> 00:44:50.639
Dan Martell says, even in that aspect. If you got
1031
00:44:50.719 --> 00:44:52.559
somebody that can do it eighty percent as good as you,
1032
00:44:52.719 --> 00:44:54.920
that's good up to keep scaling and move forward.
1033
00:44:55.000 --> 00:44:57.199
Right, It is true, and also that's part of just
1034
00:44:57.360 --> 00:45:01.280
actually duplicatable scale. Henry forb was a early mentor of mine,
1035
00:45:01.400 --> 00:45:04.880
just in books, who invented this, you know, the conveyor
1036
00:45:04.920 --> 00:45:06.880
belt for the model T. The dude didn't know how
1037
00:45:06.880 --> 00:45:09.599
to fabric gate a card, didn't understand combustible engine, but
1038
00:45:09.639 --> 00:45:11.559
he had a vision. And what he did is he
1039
00:45:11.639 --> 00:45:14.559
surrounded himself with the smartest people. And that became really
1040
00:45:14.559 --> 00:45:16.760
inspiring to me. Never be threatened by someone who's better
1041
00:45:16.800 --> 00:45:19.559
than you at a job. In fact, be the leader
1042
00:45:19.559 --> 00:45:21.639
that finds those people and empowers those people.
1043
00:45:21.920 --> 00:45:23.960
I picked up on some you said a few minutes ago.
1044
00:45:24.239 --> 00:45:27.280
You mentioned you're CEO. So you're not the CEO in
1045
00:45:27.280 --> 00:45:30.000
your company more, which means you've done really good job
1046
00:45:30.039 --> 00:45:33.719
of replacing yourself. So what is your role now? I
1047
00:45:33.719 --> 00:45:35.400
don't know whether you're a chairman of the board. I'm
1048
00:45:35.440 --> 00:45:38.199
sure you're not just a passive investor in your own company.
1049
00:45:38.239 --> 00:45:41.119
But you have a CEO, you have a whole team.
1050
00:45:41.199 --> 00:45:43.559
They probably have a CEO and so forth. So what
1051
00:45:43.719 --> 00:45:44.559
is your role now.
1052
00:45:44.880 --> 00:45:47.519
Yeah, there's a book, my favorite business book that I
1053
00:45:47.559 --> 00:45:51.159
would recommend to every entrepreneur called The Clothes Eli Goldenrod
1054
00:45:51.480 --> 00:45:54.239
has this great narrative where he talks about what happens
1055
00:45:54.239 --> 00:45:56.679
when you're an operator in the business versus an owner
1056
00:45:56.679 --> 00:45:59.400
who can work on the business. In the business, your
1057
00:45:59.440 --> 00:46:03.719
brain and energy just goes towards optimization and expansion. But
1058
00:46:03.840 --> 00:46:06.159
when you get out of the game and you can
1059
00:46:06.199 --> 00:46:09.400
work on the business, you can make the big moves
1060
00:46:09.440 --> 00:46:11.960
that will give you double growth, that will allow you
1061
00:46:12.039 --> 00:46:14.119
to really make the smartest moves. And so I always
1062
00:46:14.119 --> 00:46:17.159
tell the entrepreneur, like, what you're striving for is to
1063
00:46:17.159 --> 00:46:17.840
get to the point.
1064
00:46:17.719 --> 00:46:19.239
Where you're an owner, not an operator.
1065
00:46:19.800 --> 00:46:22.800
And I was at a Tony Robbins event six years ago.
1066
00:46:23.119 --> 00:46:24.960
I was the first intervention he did. I'd paid one
1067
00:46:25.039 --> 00:46:27.599
hundred thousand dollars to go to this financial event and
1068
00:46:27.800 --> 00:46:29.800
he comes up to me and for an hour just
1069
00:46:29.920 --> 00:46:32.239
brates me standing in front of a room of entrepreneurs.
1070
00:46:32.639 --> 00:46:34.159
But by the time it was.
1071
00:46:34.119 --> 00:46:36.440
Done, at tears and run down my face. I was
1072
00:46:36.519 --> 00:46:39.559
passionately excited about what like understanding what my problem was.
1073
00:46:40.000 --> 00:46:41.840
And when it was all over, I called up my
1074
00:46:41.880 --> 00:46:44.840
director marketing and said, on Monday, you're going to give
1075
00:46:44.840 --> 00:46:47.440
your welcome speeches the brand new CEO. I'm stepping down,
1076
00:46:47.480 --> 00:46:49.639
I'm out. I'm empowering you. I want you to do this.
1077
00:46:50.199 --> 00:46:53.039
That year, he grew my company four hundred percent. I
1078
00:46:53.280 --> 00:46:55.519
just had to get out of the way. So my
1079
00:46:55.719 --> 00:46:58.119
best idea is when you ask what my role is today, Yes,
1080
00:46:58.159 --> 00:47:00.840
I sit on my monthly board meeting, and then I
1081
00:47:00.880 --> 00:47:03.760
am the social media talent for my company, which I
1082
00:47:03.840 --> 00:47:06.679
do you know, that's one day a week. And outside
1083
00:47:06.719 --> 00:47:11.079
of that, I'm now just looking at strategic relationships and opportunities.
1084
00:47:11.320 --> 00:47:13.159
But I don't do anything inside the business.
1085
00:47:13.599 --> 00:47:16.760
Wow, fabulous. That's quite a success story there and everything
1086
00:47:16.800 --> 00:47:19.440
that I mean, this has just been so illuminating, Chris.
1087
00:47:19.719 --> 00:47:21.559
So we're coming near the end of our time, Chris.
1088
00:47:21.639 --> 00:47:23.039
But I wanted to give you up Tony. I think
1089
00:47:23.039 --> 00:47:25.519
you have a really cool free opting gift bro audience
1090
00:47:25.519 --> 00:47:27.960
so they can learn more about your work and so forth.
1091
00:47:28.000 --> 00:47:29.039
So could you talk about that.
1092
00:47:29.480 --> 00:47:32.880
Yeah, I believe that the most valuable gift I could
1093
00:47:32.880 --> 00:47:35.280
give someone as a fresh perspective from my point of
1094
00:47:35.360 --> 00:47:37.440
view of what they could do to financially better their life.
1095
00:47:37.440 --> 00:47:39.079
And I call it a game plan, and I offer
1096
00:47:39.119 --> 00:47:41.760
it for free. And if you go to live gameplan
1097
00:47:41.880 --> 00:47:44.440
dot com, it's going to ask you a handful of
1098
00:47:44.519 --> 00:47:47.639
questions and when you submit that, me or a member
1099
00:47:47.679 --> 00:47:49.559
of my team will actually reach out to you and say, hey,
1100
00:47:49.639 --> 00:47:51.800
based on financially where you're at, whether you're a business
1101
00:47:51.840 --> 00:47:54.320
owner or not, whether you're w two, we're going to
1102
00:47:54.360 --> 00:47:56.079
look at it from a real estate perspective. We're going
1103
00:47:56.119 --> 00:47:58.320
to look at it from a business perspective, and if
1104
00:47:58.320 --> 00:48:01.400
I can do something that can massive create financial elevation
1105
00:48:01.440 --> 00:48:03.599
and mirror rise in your life, we're going to tell
1106
00:48:03.639 --> 00:48:05.719
you what that is. So you can walk away empowered
1107
00:48:05.760 --> 00:48:07.480
with some great steps of Hey, what would I do
1108
00:48:07.559 --> 00:48:09.840
if I wanted to take all of the knowledge and
1109
00:48:09.880 --> 00:48:11.880
wisdom that Chris has gained over the years, leverage the
1110
00:48:11.960 --> 00:48:14.679
system and make a whole lot more money passively without
1111
00:48:14.719 --> 00:48:18.199
creating distraction. You just go to live gameplan dot com.
1112
00:48:18.360 --> 00:48:20.280
Just fill out that form and then me and the
1113
00:48:20.280 --> 00:48:21.719
team will be in touch with you and we'll share
1114
00:48:21.719 --> 00:48:22.519
with you your options.
1115
00:48:22.800 --> 00:48:24.400
That's great, and you all can see the link right
1116
00:48:24.400 --> 00:48:26.719
down below where we're speaking here, and so write it
1117
00:48:26.719 --> 00:48:28.559
down or click on it now and go there. Check
1118
00:48:28.639 --> 00:48:31.559
that out. Absolutely. Thank you so much, Chris, this has
1119
00:48:31.599 --> 00:48:32.920
been absolutely fabulous.
1120
00:48:33.199 --> 00:48:33.920
You welcome Fleet.
1121
00:48:34.679 --> 00:48:38.519
Thank you for joining me on the Radical Responsibility Podcast. Remember,
1122
00:48:38.639 --> 00:48:41.320
real change happens when we commit to our growth, face
1123
00:48:41.360 --> 00:48:44.920
our challenges with compassion, and stay open to transformation. If
1124
00:48:44.960 --> 00:48:48.199
you found this episode helpful, I encourage you to subscribe
1125
00:48:48.239 --> 00:48:51.599
and help us spread the message of healing and personal empowerment.
1126
00:48:51.679 --> 00:48:55.360
Stay grounded, stay present, and stay true to you. Take care.
1127
00:49:03.079 --> 00:49:08.360
Free audio post production biophonic dot com.