ABOUT THIS EPISODE

Ever wonder what it would be like to pick Barbara Corcoran's brain for real estate investment strategies, how to spot investment opportunities, advice for new real estate agents, and other information that can help you make more money and grow wealthy in real estate and investing? Well, today's your lucky day. Shark Tank's Barbara Corcoran was kind enough to join Pat Hiban on the podcast and share a wealth of information and advice to help each and every one of you see more success - whether that success comes from real estate sales, investing in companies or real estate investments. Drop what you are doing because you don't want to miss today's Real Estate Rockstar interview with the one-and-only Barbara Corcoran of The Corcoran Group in New York City as she shares some of the advice she's used to get her to a point where she was able to buy her $10 million dream home.

English
United States

TRANSCRIPT

00:00:02hi in over the past twenty five years old over seven thousand homes selling over a million dollars in value in two thousand and ten I sold my team business to my top agent and went on book tour promoting my book six steps to seven figures real estate professionals
00:00:22guide to building wealth and creating your destiny that book went on to become a New York times bestseller now I live off the income from the real estate I bought with commissions I earned as a full time maid in two minutes giving back to the real estate industry
00:00:43as so many mentors of mine have given back to me on this show will interview the world's best agents brokers coaches and investors to help you make more commissions and create the life you deserve okay rockstar nation this is really state rockstars here's not real estate pee wee's
00:01:16or real estate one hit wonders this is real estate rock stars of today we have a true real estate rockstar yes a little history first Barbara Corcoran deny communicated for the first time probably about ten years ago when I started writing my book six steps to seven figures
00:01:38hours being coached by a J. Pappas on from millionaire real estate agent and as you know Gerry chaleff wrote the foreword to my book and part of their coaching they said what I want you to do Pat is I want you to pick up a book by Barbara
00:01:52Corcoran called at that time she called it if you don't have big breasts put ribbons in your pig tails kinda awkward and %HESITATION but that was the name of the book and it was basically a chronological book detailing her life as a kid and lessons that you learned
00:02:12from her mom and how she used them in their business life it was great book but Jay said I want you to do that I want you to write a chronological order book of Pat high bins life and so I did that and in the editing process eventually
00:02:28it was decided that you know what this might not be best served as a chronological book like Barbara Corcoran's but you know why don't you make it more of a business book into you know your life in real estate and funnel it in this into a certain number
00:02:44of steps and that's kinda house except the seven figures came about and went from four hundred ten pages to about two hundred pages in that process but you know since then Barbara and went on to shark tank fame now she's I believe she mentions in this episode she
00:03:00shot over eight episode eight seasons twelve seasons of like a shark tank she has invested in some thirty two companies with shark tank and she owns a ton and I ask you this in that episode a ton of real estate and she just bought a ten million dollar
00:03:20higher highs it's funny the lady remember her from when she was an agent went a broker or even before that actually before her real estate career %HESITATION I think a anyway so you'll hear the story in the episode so a lot of you went on to Facebook for
00:03:39me thank you very much and wrote down you know your favorite question some of them I didn't think I would that go to the museum but I used a lot of them and to save time one of my do let me if you don't know who Barbara Corcoran
00:03:50is %HESITATION and make a long story short back to me reading the books and then when I did this after I read that four five times increase in my book I sent it to her and said I use yours as a guide what do you think of this
00:04:01and she actually give me some advice that she was kind enough to write me a testimonial which I've put that now on the back of my book and it helps that helps sells a lot of books for me so she was kind of to do that and she
00:04:13was kind enough to come on the show after she saw the amazing amount of downloads that we were getting and she was willing to come on the show which by the way all this increase in downloads are is thanks to you guys out there for giving me five
00:04:26star reviews the more that you go on and when you go on to your podcasts subscribe the more subscribers that I have and the more reviews that I have the more downloads we get and the more people like Barbara willing to come on what people like Robert Kiyosaki
00:04:45are willing to come on so that all is very helpful and then what Barbara ended up doing actually is that she ended up just changing the name of that book I think is to buy it but it's the same book just change the name the shark tales nasty
00:04:59sell them all but the read the reviews on that book and say Hey this is the same and book as big brass I guess the editors told her changed the shark tales and you'll sell ten more of ten million more so anyways she came on the show I
00:05:12am going to read her review I mean her biography here %HESITATION to save some time in case you guys do not know who Barbara Corcoran is in case you don't have a television set alright the barber cookers credentials include straight dis in high school and college and twenty
00:05:33jobs by the time she turned twenty three it was her next job that would make her one of the most successful entrepreneurs in the country when she took eight thousand dollar loan to start the Corcoran group as one of the sharks on ABC's hit TV show shark tank
00:05:48Barbour has pony up her own money invested in twenty two business by the way it's thirty two business as she says this on the show one of my questions competing to make those deals for all to see than shepherding them to success them a stop there for me
00:06:04because I do ask about which ones were most successful and how many of them failed in that sort of thing and she was very candid and honest about that okay on words she says that her newest book shut tales which really is our oldest book that I read
00:06:19telling the pig tails but nonetheless her bookshelf tales takes you behind the scenes of her life in business as she and her seen on TV venture capitalism barbers famously brash and blunt holding courageous and a brilliant identified opportunity and talent quote the or parentheses often invisible to others
00:06:37parentheses so that's the deal that to Barbara corporate is she is a real estate rock star in New York City and has definitely earned her success and has answered some brilliant questions from all you guys on Facebook and some others that I created and I'm excited to have
00:06:58her on the show so without further ado let's get on with the interview Hey Bob Hey great thanks for coming on the show today pleasure nice to be with you Pat you are the essential real estate rockstar and I'm glad that I got you to take time out
00:07:25of your busy day why don't we jump right into and talk a little bit about a real estate a lot of our listeners appears is Barbara corporate buying real estate currently let me give you a disappointing answer that yes I spend ten and a half million dollars but
00:07:41not on the kind of real estate that people want to hear about that they've done nothing all my god how do I get that angle I voted stupidly on a beautiful penthouse apartment that I'd seen fourteen years ago when I was a messenger in a bad storm and
00:07:54a woman told me although I'll never move from this place I said to a call me if you do and she did ten years later cell and I over been myself a few times spent way too much on the renovation but god willing I just moved in and
00:08:11it's worth it in hindsight it's like being pregnant once you get a great kid you don't mind if a lawyer present the two years you really want to sell my cat two years so you renovated for two years what floors and on it's on the top floor of
00:08:22an old prewar building on Central Park right on Tuesday and usual kitchen up but I have a gorgeous beautiful views a greenhouse and Iraq terrorists and that's why I fell in love with well so as far as like rental real estate natural thing to get into that at
00:08:37all on what can I tell you have done that my whole life but I haven't put a damn thing the last three years because I was so preoccupied with the stupid apartment I'm sure if I ended up how much money I lost a lost opportunity time I would
00:08:49really have to just what what I have to do something bad to myself I yeah but what I typically by and by the same old thing all the time because I'm comfortable with and I think conflict for me is important because I feel like I trust myself my
00:09:03judgment and the people involved with I always buy four to six story single family homes and convert them to apartments or apartments that are ready will run flax usually have rent control rent stabilized tenants and then as they get to control you know we have a lot of
00:09:21red tape in New York that land was being able to get their market rent but as we become deregulated I renovate them improve them when they get high rents and I've bought buildings my whole life I never sell them I always think I'm going to sell them but
00:09:35what happens in the real estate game on which I didn't know initially is it's always more profitable to re mortgage properties and take cash out that way tax free other than it is to sell the properties and take out the appreciation check out the appreciation by way of
00:09:50second mortgages or replacement mortgages and of course the rent rolls go up so they pay off the mortgage is and that's realistic game or certainly the way it's played in New York City that's awesome so all your properties in New York City all of them in New York
00:10:03City has someone that most of the Balkan Manhattan because that was of course the earlier purchases when the only of a safe place to live here was Manhattan not got to be the world's but now I have a lot of properties in different boroughs around the city miles
00:10:18up and coming areas and my trip to locating up and coming areas is not very sophisticated I've done my whole life when I go out to dinner and I hit like downtown place that would be today I always get a gateway to say Hey where you live he
00:10:32always felt in a horrific area but it's really cool a lot of kids are moving in there and the first thing I do that week is I hired on driver I go out and look at this terrible area and that's the beginning of an up and coming area
00:10:45I have found the creative community moves and so the key is the gay waiter well I guess you might say that he is that's a that's a tip for the day and follow the following the gateway to the money too much money and I'm talking about the poor
00:11:01creative yeah yeah early and where they live and where they are banding together to get space and they always improve with a living and then it becomes a hot neighborhoods three six seven years out it makes a hell of a lot of sense let's talk some numbers like
00:11:14do you know how many units you own no I don't know how many minutes I own but I know how many buildings I'll probably about seventeen one okay seventeen eighteen buildings and then while we're talking numbers how many companies have you invested in on shark tank that I
00:11:32don't know thirty something low thirties well and have they all worked out of some not worked out what everyone's a winner amazing no of course I have no way Jose I would say alone I would say roughly twenty five to thirty percent of them yeah that's about right
00:11:54twenty five percent twenty five percent of a much fail or succeed amount succeed wildly okay jackpot yes jackpots not necessarily jackpot right away but pretty early on they get in very fast traction and they keep going and the rest just hotter along and some I'd say about maybe
00:12:12a third of the are are still out as to possibly being a decent investment but not a home run the whole ministry of strong sign and then I would say at least a third maybe a little more than that a dismal failures for a lot of reasons %HESITATION
00:12:29they were loved the dream at the concept couldn't execute up partnerships where they went in loving each other when they were expecting the baby to happen once the baby is born it was so much pressure on the became a fighting partnership the one part about out terrible for
00:12:44me as a partner you know me yeah yeah yeah marriage of what else of the brother in law in the past not them and of course they're not talking but rather learning give back when you have a lot of sales you don't control product that's another one that's
00:12:59turned up three or four times now I'm going to ask Hey show me the proof that you only Pat I used to just take it on face value not anymore not having in fact I should say this first not having the ability to pass up when they first
00:13:16get hit with some some crap that lies in the face really %HESITATION you know entrepreneurs would be entrepreneurs very much love the idea of having your own business love their new invention or the new services I think it's the greatest they're blinded by love honestly and sometimes it's
00:13:33good to see too stupid to know any better but sometimes it's very bad when all the crap hits the fan and you don't have the stomach to withstand it and I would say that's the number one reason why I people sell they just %HESITATION they get smashed on
00:13:47my head like a Jack in the box and they don't know how to do that bounce right back up and say it the again Mike gridlocked reviewers were making great money all have maybe even a lower IQ and kind of bounced back up and say hit me can
00:13:59hit me yeah yeah is the inability to feel sorry for yourself frankly of the minute I talked with who are now in the last four five years a short time money here's what my antenna is out trying to gather as quickly as I can is on the first
00:14:16time they feel sorry for themselves and the minute I picked that up I know I have a losing my money's going down the drain and I'm telling you every time I lose river well that's great advice it's great advice let's jump on is the trumpet kana me what
00:14:30that what is your prediction the next four years or so we think will happen with real estate which transaction numbers everything I had no idea and I don't even know how that plays out I'm not the least political on but I can tell you a what always affects
00:14:44every real estate market more than any other single factor is confidence so if people have great confidence in the leadership it is always good for all market stock market real estate market you name it new business development up everything housing everything but when people lose confidence it's disastrous
00:15:05because people are free to move forward especially on something as large and as intimate and personal as the new home of they hesitate hesitate to sell that's that's a problem for real estate brokers they hesitate to buy that's a problem for new developers they just hesitate self confidence
00:15:22greases the skins and makes people move forward and that's always good for all markets so you tell me you'd be you'd be the fortune teller and tell me how much confidence people gonna have over the next four years who the heck knows we don't have to wait to
00:15:35see well yeah we're going to wait and see but so far it seems that with trump being a you know he's just naturally confidence so that I could operate yeah but I'm talking about people's confidence in the leadership that's really the yeah right right he yeah well it
00:15:50will be interesting for sure let me ask you a self serving question here Chris I run an education company teaches real estate agents how to sell more houses had to make more commissions and you know if I wanted to get out let's say you were I was a
00:16:04company you advising me I was on shark tank at the to get out to as many real estate agents as possible right so that so that they could buy my courses to learn you know training on how to make more money what advice would you have for me
00:16:18well that's a marketing question would you have to figure out first research Weiss is who and what out there is grabbing the greatest number of levels would be number one so I would think Godzilla I'm gonna just guess I don't really know I would things still would be
00:16:36a giant %HESITATION officiate arrivals in the real estate business or whether it be the real estate board nor national association of realtors I think they're losing to the big players like selling myself but you should check the numbers everything's travels the wonderful thing you could do some research
00:16:53today I'm and I would what I would then do is a duet analysis which she would not take long instead how expensive it is to reach them on the different big let's say the Big Five mediums out there that are reaching the most number of real estate agents
00:17:08are what is the cost me to grab arrival Monday and then after that we really need to do is get a phenomenal campaign that's clever is a box not big but Clarissa box something that engages people and like just resonates with them %HESITATION it might be something as
00:17:24ridiculous as you flexing those big biceps with your tattoos on I think it might be you because I see you bald a little bit just a tad yeah just to chat and you know but might be you taking on all few weeks of people start talking about it
00:17:39I don't I'm just being ridiculous for reasons but to the point that cleverness is what lies in the world of gathering lovers dealers people who are you wanna resonate with and you know your blogging what you're doing here and how willing is self promoting if you're in your
00:17:57own branding but I really think you have to just realize how much money you can soleil throw up there in some wall see what sticks and how long you could do it and what's the smartest way you could spend enough to sharpshooting be so accurate from the beginning
00:18:11but pick the best three four five interests are thrown the stuff on stuff up on the wall to see what sticks and if you really watch your results and have a way of counting which is so easily done today especially online you should be able to tell what
00:18:25we're usually putting you future money and you know what I don't even think a lot of it is it is even future money or to raise money I think a lot of it is clever plays that you could do yourself online inner you don't even need a web
00:18:38box optimization all that fancy stuff initially I would just poke around and try it you know and to a point of who you hire to do that you know what I have used again and again since I've been on shark tank with the best information as I used
00:18:51to go when I ran the corporate was as a giant company and I spent millions of dollars a year in advertising at work with all the top agencies in New York City including I was working with them when I was trying to re branded rename some of my
00:19:03early acquisitions on shark tank but guess what I found out I found out that the FTC agencies are so high to rename these businesses but if I could just describe the business in one line into a contest with a two hundred dollar price to all my followers that
00:19:17happened at the I would get seven thousand names creature for two hundred dollars for seven thousand dollars for an hour somebody's time it began agency so I think you have a good following I think you could use your audience to give you immediate feedback on what's working what's
00:19:34not what do you like about it would definitely I think you have to really ask a lot of questions before you start blowing blowing a lot of energy and especially money you know death yeah however said that makes sense and I think real estate agents can use that
00:19:48same advice and in growing their businesses which leads me to the the next question is what it let's see there's agent a real estate agent listening this radio show and they are struggling with say they've gone into a slump or let's say their brand new agent what what
00:20:03advice do you have for well agent going to slumber brand new agents like two different people so I may separate if you don't mind okay a brand new age in going to the business I believe there are two things that key okay and it's all about getting leads
00:20:20okay and getting money in your pocket those are the two things you want to get leads and they're not problem and fast enough recurring enough so they get enough money in your pocket again and again so I always think it's great to go in the real estate business
00:20:32a new agent people put their nose up at it but I have recommended I did it myself seen people succeed while it into the rental under the business with this quick turnover quick turnover quick channel why you get cash really fast she got a lot of practice to
00:20:46showing a lot shown once someone is looking for a place to rent a doesn't do it with the dax and return visits and the slow pace of someone looking to buy gas you get practice of it that I think you want to get precedent that in the short
00:21:00cut to that is rental agents okay that's one the next thing I think you want to do is get as many leads as you can and I think the key to getting leads is become a slate board sleep yourself to a top agent in your local market this
00:21:13is funny thing happened to the top agents say more business than they can handle and so is also the high pressure also the high priced home to the parents were buying the third home the very loyal it's a little too homes already very high price but then they
00:21:25keep wants to start a home and trust me that top agents will handle it but they're not excited about it so you be this suffering you take the young kid because they're gonna be just rich like the parents only twenty years once the kids is eighteen and their
00:21:37trading up in training up so I think in slaving yourself for top agent even if it be only for six months you're around the eagle drive the work habits of someone who's actually succeeding beyond everybody else and you're gonna pick up those habits or you should be in
00:21:53business so that's up and start now back to war over to bless the new agents now over to your other question what party which is a what if you're in a slump the problem was lumps in real estate is it blinds you are you don't see past your
00:22:09own nose assigning the slump and found the same with all my agents that kind of sit at the desk and select themselves right out of business in other words it is looking at houses online with you know maybe you should be good make that would be good to
00:22:20go on open houses but they're not in the did not in the life space or walking talking customer for eighty percent of the day and that's what you got to be a great age you out of the inner strength song meaning with the human being that you go
00:22:34to buy or sell something to okay cell by cell how by something happened by or you're going to sell their home if you're not in that area you're not in the business you I think you're in the business because you're at the office for you know the business
00:22:47and so I think you need number one honesty someone valuation as to whether you're still in the business if you don't have the gumption to get out with people and find a way of getting a hand some people have that drive and desire no that's what you're supposed
00:23:01to be doing you're in the wrong business because you don't have enough aggressiveness in you to pull it out and it's an aggressive business you know anyone who succeeds very well in real estate might look very nice might be very sweet but trust me even though I don't
00:23:14conversations and interview the driver and otherwise not making top money and so I think at an attitude shift on are you in a slump in if you blinded into thinking you're in the business but you're not with a live person you're not in the business that a shift
00:23:28your attitude and get on with business that's right route so make yourself available just go visit people go show rentals just go kind of get the blood flowing any way that you possibly can NO one you'd be better off honestly when you're in a slump you're better off
00:23:44getting up from the desk we selected yourself out of the business online game up from the desk going to local movie theater and hoping a bankruptcy next or at least might be a customer and I'm I'm kidding around you're in a movie theater with white people okay you're
00:24:02better off volunteer featured school committee you're you're you're better off thinking what I really like to do what's right interest actually going to do and I'm not even with the goal that you got hostile customers but when you're active and you would you like to do people are
00:24:15attracted to you networking is a bad word I always deal because people think you have to go to a social we handing out pointing like your business card to everybody who's there at the chamber of commerce I do not find that materialized in business but go teach of
00:24:28course will be a guest lecturer returning taboos doing a licensing courses you come in and tell what it's really like from the road here the three things you get wrong here three things you did right you are going to have a door and people want to work with
00:24:40that single do business you know yet you have to be out in front of people and any any temperature gauge take she just measure out in front of people and if not how the hell do I get out from the people what I wanna do is a million
00:24:53things up what I gotta do to make sure I'm out for the people have you ever had an upset client that you know could have been avoided if you had just had the correct system in place with your team well this is one of many reasons that I
00:25:13created the certified team agent with Jeff cone at Omaha Nebraska Jeff runs a team that does over six hundred transactions a year let me read your comment from one of our recent graduates Steve Schwab says this is a gem field poll of shiny pearls anyone considering building a
00:25:37team and taking it beyond where the common team operates today should definitely invest here I can't recommend this course high enough six stars if that's available have you ever lost a listing and we're absolutely sure when you're on the appointment that the listing was yours you're absolutely sure
00:26:02when you returned home after the listing women that you got that one in the bag and then got a call or an email later that said we decided the list with someone else will that feeling which I have personally had myself is what inspired me to create the
00:26:18certified listing agent course where I filmed eight agents listing appointments eight top agents from around the world their listing appointments and analyze them word by word here's a comment from someone one of our recent graduates are you looking to take the listing presentation to the next level I've
00:26:41closed a hundred percent of the listing appointments since I took this course to be specific five appointments five new clients in the last sixty days do the math it's worth every dollar bill read verse on real estate have you ever had a listing and then lost the listing
00:27:01to an agent who immediately dropped the price and sold it after you did all the work and put all the time in and got paid nothing that is what inspired me to crate our C. P. R. C. course the certified price reduction course listen to what one of
00:27:20our recent graduates has to say about this after taking this course I immediately called all three of my listings and got three very significant price reductions thank you Pat the quote from one of our recent graduates on the price reduction course immediately after I took this course I
00:27:39called all three of my sellers I used a different script that I learned in the course on each one and got a significant price reduction on each listing I would never have done that if it were not for the confidence that I had gained from taking this course
00:27:56so rock star nation you could see that all of the current courses on Regis university dot com are producing very very happy students go to reverse university dot com now and in the coupon code type in the word podcast for fifty percent off gift certificate on any of
00:28:18the three courses I just mentioned Regis university dot com that are easy be US let me take it to either scale of that going from the bottom to the top here because I know you had a lot of high producing a real estate agents in your company and
00:28:48you were a high producing real estate agent yourself what would you tell a high producing real estate agent today knowing that high producing agents tend to churn you know that you might see one it's a top producer three three years ago that now no one's ever heard of
00:29:03and there's a new guy in town that's %HESITATION taking all the leaves what advice do you have someone who's on top right now %HESITATION well actually that that description you just gave me and never experienced honestly I think the top producer stays a top producer they might have
00:29:17a little off year of what they don't lose their market to the next guy in the new kid in town it's the lower producer that was is the market all the time to the new kid in town was not aggressive enough nor feel fearful enough nor warrior not
00:29:32a to protect their turf and keep building on it so top produces I don't find do a lose their business to the new kid in town at all you know what they do that's a lot smarter they hire the new kid in town when they hire somebody else
00:29:44and they kind of collect their business for themselves right and %HESITATION I had worked with so many top producers over the years who turned ancient on my watch a much older than me when they first started working with me and I wondered if they would indeed ever retire
00:29:58and believe it or not all those agents that start with me when I started my firm thirty five years ago are still top producers and they could hardly walk okay but you know what they were smart enough about they are surrounded by young people no social media who
00:30:12bring in other leads to them they have created businesses around themselves you know just keep gobbling up gobbling up and that's exactly what a top a top producer should do definitely yeah that makes a lot of sense you know surround yourself with younger people so that you're constantly
00:30:28being pushed back up in east ridge push up or younger hungry people hungry hungry people Intel barber in your bio it says that your brilliant identify of opportunity and talent often invisible to others can well that's true and we've got that others Celtic territory meeting so what what
00:30:51was it again they hit I was just saying you know what what is somebody look for when they're looking for opportunity or how how do you find opportunity that others don't see well I well I do believe that all opportunity every bit of it isn't people there's no
00:31:09opportunity outside people I mean even if you have a great stock tips and you're gonna make a killing as a result of somebody having the tip and sharing it with your right and so were you not I kinda like just do like reading in a way it so
00:31:26and I always have so I don't really making it hard for me I'm like the yeah but I mean them okay what what goes into that you know what I think it comes down to I think comes down to a very black and white either trust somebody or
00:31:39do you believe them or don't you think the coffin based on first impression they're acting right don't I think did enormously in secure or you don't and that's not necessarily a bad thing I checked and go look for the insecure people you know the people where the dad
00:31:55said you'll never be anything more than that I have never had a dad or %HESITATION us somebody who's struggling sh school was a dance all through school and now they have something to prove I'm always looking for the one who struggle because they have a burning desire different
00:32:09than the privilege can't that everything everything handed to them and has spent on the luxury cruises and really isn't isn't dreaming at night about what the house he could buy because his parents at such a big house they can never measure up you know so I like a
00:32:22needy person and I can pick that up so many persons so like minded souls like who you're in security and secure your neon needy I've got a big ego you've got a big ego all I can really struggle well I come through all the time just like a
00:32:38killer out it that finish line war I could pick that up in New York killer too and that's why marry I don't marry physically but you know yeah yeah yeah I buy into and and you know it's no different from hiring inexperienced agents why hard thousands of agents
00:32:52over the years working for the corporate group I look for all the same traits to most of that was kind of an end to his playing and when I found myself on track to anything crap only knows real soon I know nothing about these are the kinds of
00:33:05businesses on how to really have to take it I do think it's two years now I realize wait I know this business is just picking people it's exactly like picking great sales people to the same stuff and you have a winner ignore that stuff in the little loser
00:33:17and that's exactly what it's been ever since I love that it's a a member member being the guy wants is his says he always hire single moms that never went to college because he knows that they have a huge desire to prove themselves lap nice one I like
00:33:31that yeah well this is being great barber I really appreciate you taking time let's wrap this up with one last piece of advice to all the real estate agents out there that are listening that are saying you know how can I make more commissions this coming year what
00:33:44advice do you have form that's like a such a big general question is really no general advice except that when we think hate these kind of wide and deep questions but also a way for a what you have to do is you have to realize the probably one
00:34:01of the best this is the whole world and not only are totally free working for yourself you can totally control your day in everything you do is that nobody's telling what to do this for yourself and not only are you acting as a traitor up between people initially
00:34:17in the business but you can become hyper aware of a great deal and if you've got the knowledge you'll always find investors are going to deal with you so you should be looking at it like your real estate agent on a transaction basis for the next guy do
00:34:32transactions you sell on what I've done my whole life is any investor property ever what into I was too busy to know markets other than that one tripped at night to see like sense that some up and coming area but then to drill down the right property is
00:34:47very hard sciences me so I would just look for a poor age a young agent really needy who really knew the beat of that particular area and I would give him ten percent of the deal why because they have the knowledge which I didn't have and why did
00:35:02they go for that deal because I had the cash they didn't now you get the funding for it and so I have partners in all of my properties anyway I would I could have never in hindsight you know ice I sold my business for sixty six million dollars
00:35:17at the time I thought wow that's a lot of cash rate is a lot of cash I respect that but what I never understood the whole time I was buying properties the whole time I was in the real estate career hardship properties on up and coming areas and
00:35:31nobody else saw this morning soldering found it through the or personally just moved there and I knew it was a hit place is going to be all that stuff was all by accident and in the end it wound up being worth much more to me than my fourteen
00:35:45hour days every day of the week working as a real estate broker it's not funny this site kicks things that took virtually no time except picking the right people to be my partner take my fortune in the business and so I could get to realize that what you
00:36:00get is a real estate agent arena is total freedom to make from it whatever you want as far as you could dream if you're smart enough to say what I got what what I don't have and how I find somebody who's got that **** that I don't have
00:36:14an exact coupling of stuff that makes the magic happened so I think maybe looking beyond the next feel and also the Gelman dealer I could be a deal like this is always a guy with cash is going to put money into something if you're convincing enough that you
00:36:26know what you're doing well well that's awesome and you're certainly proof of that and the the sky is the limit barber thank you so much for coming on real estate rock stars today are rockstar nation salute you in the best of luck to you in all your future
00:36:42endeavors okay that make sure you keep working out those five steps looking very the explorer unemployment by thank you for listening to real estate rockstars please be sure to leave a top five star review where ever you're listening all five star reviews help us get better and better
00:37:05gas for your listening pleasure and if you have a great review all read it on the show we're so proud of the show now with over a million downloads in seventy nine countries around the world also don't forget to buy my book if you haven't already six steps
00:37:25the seven figures of real estate agents guide to building wealth and creating your destiny with an intro by Gerry Keller sold everywhere online books are sold you can always go to Pat hi been dot com and find out about all things Pat hive in and don't forget to
00:37:46follow me on social media all you gotta do is type in my name I'm everywhere and easy to find I hope to meet face to face some day but in the meantime let's meet on social media thanks again for listening in and keep rocking

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Disclaimer: The podcast and artwork embedded on this page are from Pat Hiban - Billion Dollar Agent and New York Times International Best Seller of "6 Steps to 7 Figures: A Real Estate Professional's Guide to Building Wealth and Creating Your Destiny", which is the property of its owner and not affiliated with or endorsed by Listen Notes, Inc.

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