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Uncovering the Success Strategies and Mindset of the Top 1% so You can Amplify and Transform Your Life and Business.
Episodes
2 days ago
2 days ago
Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Liz Benny, Sally Hogshead, Shannon Miles, Lisa Sasevich, Bonnie Fahy, Diana House and Marisa Murgatroyd and in this episode you will hear tips and tricks from top entrepreneurs about the guide to success.
(2:21) Liz Benny
Learn to get to know who you are as a person. Turn your curses into something that you can profit from. Understand where your strengths lie and where your weaknesses are. Learn to allow yourself some help in areas you are not good at. Give the job to someone who is good in the field and have an accountability partner who is going to check up on you at all times.
(6:32) Sally Hogshead
High performers deliver a very specific benefit. Some may be detail oriented and they will hone in on details and they will look for clients and projects so they can overdeliver in details. Most people have this misconception that entrepreneurs are geniuses or prodigies but truth be told, it’s just that they are very detail oriented, hard working and they go the extra mile to do something and that is what separates them from most.
(9:40) Shannon Miles
Working from home has been proven to be the new norm. However, it brings its own set of challenges. When you work from home, you have to be strict with your schedules. You need to track down your hours of work. You need to communicate and be able to keep progress up regardless of working from the comfort of your home. It becomes even more important to know the productivity of your employees.
(11:17) Lisa Sasevich
Inspire your client to make a decision. Whatever that is that you do, make sure you have a good sales conversion machine. If you don't have a system to offer that difference, you are doing all the hard work for no reason. You won't see any rewards. Reverse engineer to lead to your offer and always make sure it is an irresistible offer that your clients cannot say no to.
(14:45) Bonnie Fahy
The bottom line is if you outsource the wrong thing in your business you will not make any money. There is no use in doing something that does not lead anywhere. Have a little software that asks what you are doing every minute. How are you spending your time, daily? Learn to identify what are the things in your business that are helping you make more money. Those are the things you do not want to outsource. If you say yes to everything it will overwhelm you and eventually lead to burnout.
(20:27) Diana House
If you want to be a lifetime entrepreneur you need to master the language of finance. You have to really be on top of all your finances. Finance is the language of entrepreneurship and you need to learn how to master it. Many people spend so much time trying to find new and innovative ways to improve their business and then they leave their finances to the bare minimum. This is the wrong way to live an entrepreneurial life.
(24:43) Marisa Murgatroyd
Many people spend years of their lives empowering others with the promise of a steady check. Which is not a bad thing however if you are going to spend your life doing this, why not spend an extra hour or so thinking about what you can do yourself where people can pay you for your services. So it becomes utterly important to learn to identify your strengths and what you can offer people. Then start your own business. Take the leap of faith and work hard on it.
Links:
@lizbenny
@sallyhogshead
@bryanandshannon
@lisasasevich
@bonniefahy
@diana_house_
@liveyourmessage
2 days ago
2 days ago
Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Liz Benny, Sally Hogshead, Shannon Miles, Lisa Sasevich, Bonnie Fahy, Diana House and Marisa Murgatroyd and in this episode you will hear tips and tricks from top entrepreneurs about the guide to success.
(2:21) Liz Benny
Learn to get to know who you are as a person. Turn your curses into something that you can profit from. Understand where your strengths lie and where your weaknesses are. Learn to allow yourself some help in areas you are not good at. Give the job to someone who is good in the field and have an accountability partner who is going to check up on you at all times.
(6:32) Sally Hogshead
High performers deliver a very specific benefit. Some may be detail oriented and they will hone in on details and they will look for clients and projects so they can overdeliver in details. Most people have this misconception that entrepreneurs are geniuses or prodigies but truth be told, it’s just that they are very detail oriented, hard working and they go the extra mile to do something and that is what separates them from most.
(9:40) Shannon Miles
Working from home has been proven to be the new norm. However, it brings its own set of challenges. When you work from home, you have to be strict with your schedules. You need to track down your hours of work. You need to communicate and be able to keep progress up regardless of working from the comfort of your home. It becomes even more important to know the productivity of your employees.
(11:17) Lisa Sasevich
Inspire your client to make a decision. Whatever that is that you do, make sure you have a good sales conversion machine. If you don't have a system to offer that difference, you are doing all the hard work for no reason. You won't see any rewards. Reverse engineer to lead to your offer and always make sure it is an irresistible offer that your clients cannot say no to.
(14:45) Bonnie Fahy
The bottom line is if you outsource the wrong thing in your business you will not make any money. There is no use in doing something that does not lead anywhere. Have a little software that asks what you are doing every minute. How are you spending your time, daily? Learn to identify what are the things in your business that are helping you make more money. Those are the things you do not want to outsource. If you say yes to everything it will overwhelm you and eventually lead to burnout.
(20:27) Diana House
If you want to be a lifetime entrepreneur you need to master the language of finance. You have to really be on top of all your finances. Finance is the language of entrepreneurship and you need to learn how to master it. Many people spend so much time trying to find new and innovative ways to improve their business and then they leave their finances to the bare minimum. This is the wrong way to live an entrepreneurial life.
(24:43) Marisa Murgatroyd
Many people spend years of their lives empowering others with the promise of a steady check. Which is not a bad thing however if you are going to spend your life doing this, why not spend an extra hour or so thinking about what you can do yourself where people can pay you for your services. So it becomes utterly important to learn to identify your strengths and what you can offer people. Then start your own business. Take the leap of faith and work hard on it.
Links:
@lizbenny
@sallyhogshead
@bryanandshannon
@lisasasevich
@bonniefahy
@diana_house_
@liveyourmessage
Sunday Sep 17, 2023
Sunday Sep 17, 2023
Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Naveen Jain, Russell Brunson, Mastip Kipp, Nathan Hirsch, Stephen Somers, Evan Carmichael and Clay Gardener and in this episode you will hear tips and tricks from top entrepreneurs about how to be a very successful entrepreneur.
(0:40) Naveen Jain
There are three kinds of people. People who think of a problem, people who complain about a problem and people who think of how to solve a problem. These people are visionaries. Instead of wallowing in the problem, they come up with solutions to counter the problem. These people are known as entrepreneurs. So if you want to be a good entrepreneur, make sure you go out and find problems and look for ways to solve them.
(6:00) Russell Brunson
When you try to sell to somebody you don’t just walk to somebody and try to sell it to them point blank. First you need to find out what is the false belief they have about what you are selling and you need to note it down. Most people accumulate false information from peers and family members. They may have been told wrongly or have been warned. So your job is to overcome that false belief they already have within them and make sure your story checks out. Then your sale will be successful.
(10:04) Mastin Kipp
Focus on service. It is the most important thing. When you focus on servicing people, you will step into what is called effortless survival. You don’t have to worry about the bills being paid.You will be taken care of, if you take care of others. And lastly dedicate your life, your mission, your business to something larger than yourself and focus on adding value to people who are further down the road than you are and when you are mission driven, people will resonate with that.
(14:32) Nathan Hirsch
Listen to feedback from the people that are actually buying your stuff.
Make sure you ask questions like, “What do you like? What do you hate? What issues are you running into?” And never be scared to receive bad feedback and to change things or tweak things. Through these you get to evolve each year and always make sure you try to make it better based on all the feedback you're getting.
(18:13) Stephen Somers
There are tons of marketing strategies out there or business ideas. Sometimes you just need to learn how to follow these or listen to them. Most of these ideas come from people who have already been down the line further than you and you know that they are experts in their field. Another thing you can do that is very effective when you have a business is to identify who you are serving and cater to their biggest problems. Your business will grow a lot when you can implement this.
(22:25) Evan Carmichael
Lack of belief is the biggest problem in the world. Everybody has an important core value and once you figure that out, you get more clarity on how to live your life and what projects to take on. Try to see the world through the lens of belief. You could be the greatest in the world at something but if you don't believe in it, you won't chase it down. Meanwhile dummies are winning off of your idea just because they started and believed in themselves.
(27:34) Clay Gardener
The equalizer across humanity is time. Companies and entrepreneurs are able to move faster and faster because we're all standing on the shoulders of giants. It used to take five years to build a company. Now it could take five months or even five weeks. There's just so much more information out there. Do not focus on getting everything perfect. No one cares. Throw stuff out there, see what sticks, talk to customers,do surveys, and don't be afraid to fail.
Links:
@naveenjainceo
@russellbrunson
@mastinkipp
@realnatehirsch
@stephenjsomers
@evancarmichael
@claygrdnr
Sunday Sep 17, 2023
Sunday Sep 17, 2023
Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Naveen Jain, Russell Brunson, Mastip Kipp, Nathan Hirsch, Stephen Somers, Evan Carmichael and Clay Gardener and in this episode you will hear tips and tricks from top entrepreneurs about how to be a very successful entrepreneur.
(2:16) Naveen Jain
There are three kinds of people. People who think of a problem, people who complain about a problem and people who think of how to solve a problem. These people are visionaries. Instead of wallowing in the problem, they come up with solutions to counter the problem. These people are known as entrepreneurs. So if you want to be a good entrepreneur, make sure you go out and find problems and look for ways to solve them.
(7:30) Russell Brunson
When you try to sell to somebody you don’t just walk to somebody and try to sell it to them point blank. First you need to find out what is the false belief they have about what you are selling and you need to note it down. Most people accumulate false information from peers and family members. They may have been told wrongly or have been warned. So your job is to overcome that false belief they already have within them and make sure your story checks out. Then your sale will be successful.
(11:35) Mastin Kipp
Focus on service. It is the most important thing. When you focus on servicing people, you will step into what is called effortless survival. You don’t have to worry about the bills being paid. You will be taken care of, if you take care of others. And lastly dedicate your life, your mission, your business to something larger than yourself and focus on adding value to people who are further down the road than you are and when you are mission driven, people will resonate with that.
(15:38) Nathan Hirsch
Listen to feedback from the people that are actually buying your stuff.
Make sure you ask questions like, “What do you like? What do you hate? What issues are you running into?” And never be scared to receive bad feedback and to change things or tweak things. Through these you get to evolve each year and always make sure you try to make it better based on all the feedback you're getting.
(19:46) Stephen Somers
There are tons of marketing strategies out there or business ideas. Sometimes you just need to learn how to follow these or listen to them. Most of these ideas come from people who have already been down the line further than you and you know that they are experts in their field. Another thing you can do that is very effective when you have a business is to identify who you are serving and cater to their biggest problems. Your business will grow a lot when you can implement this.
(24:00) Evan Carmichael
Lack of belief is the biggest problem in the world. Everybody has an important core value and once you figure that out, you get more clarity on how to live your life and what projects to take on. Try to see the world through the lens of belief. You could be the greatest in the world at something but if you don't believe in it, you won't chase it down. Meanwhile dummies are winning off of your idea just because they started and believed in themselves.
(29:10) Clay Gardener
The equalizer across humanity is time. Companies and entrepreneurs are able to move faster and faster because we're all standing on the shoulders of giants. It used to take five years to build a company. Now it could take five months or even five weeks. There's just so much more information out there. Do not focus on getting everything perfect. No one cares. Throw stuff out there, see what sticks, talk to customers,do surveys, and don't be afraid to fail.
Links:
@naveenjainceo
@russellbrunson
@mastinkipp
@realnatehirsch
@stephenjsomers
@evancarmichael
@claygrdnr
Sunday Sep 10, 2023
Sunday Sep 10, 2023
Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Neil Patel, Gary Vaynerchuk, Todd Brown, Daymond John, JP Sears, Perry Marshall and Jay Abraham and in this episode you will hear tips and tricks from top entrepreneurs about how to be a very successful entrepreneur.
(0:41) Neil Patel
Big companies typically don't pay the best. The mid sized businesses are much more flexible with their budgets and you are more likely to get them. The big companies spend money with only big agencies. If you're not one of those big agencies, you're not going to get the majority of their budget. The medium sized businesses are more flexible. If you can provide them ROI, they're willing to pay you more.
(4:15) Gary Vaynerchuk
You worry about your work life balance, and remember the key is to put yourself first. Then your wife and kids because if you’re happy then you can do anything for them and that's it. And at the end of the day that’s what matters. The only thing that should waver from what you want to do is a real belief that you are doing the wrong thing by your family. So make sure you always keep that in check.
(10:07) Todd Brown
Do right by the company that you're working for and even if you're not in a position where you can utilize your new marketing chops, your new marketing knowledge, your sales skills, that's okay. You work your job with diligence, focus and on the side, you can build your business. And then when the time is right, which you'll know it you’ll be able to walk away from a great job to a great business.
(13:58) Daymond John
You have to absolutely love what you do. Anybody out there right now, anytime they've been successful whether in their relationship or whether in business they were doing something they absolutely love. You have to absolutely love what you do. If you do it for money, you most likely are never going to make the money. You may end up in the wrong place for the money. Or even if you do make money you are going to blow it.
(18:03) JP Sears
Many people make the mistake of trying to find their purpose and then taking action. But most fail to realize that you only tend to find your passion once you start taking action. However, most want the sense of control where we want to find our purpose first so we can be guaranteed that our actions are going to be fruitful to our purpose. This is not entirely wrong but just have a comfortable chair because you're going to be waiting to take action for a lot of decades.
(21:50) Perry Marshall
Most modern people don't spend enough time in nature and, and if there is any advice that is really prominent in today’s time is to ditch your cell phone, ditch your laptop, go hiking, go to the mountains, go on a kayak and spend some time with actual nature. It will be so restorative and even though you can learn about nature in a science book, you can also learn about nature even more by being there.
(26:09) Jay Abhraham
The three ways you can grow your business is by learning how to focus on the geometry of the business, learning how to make things not just perform higher for the same cost, time, effort, opportunity or human capital but also learning how to get it to go longer. You increase the number of prospects and buyers. Then you increase the size of the transaction and then you increase the frequency or the utility of the transaction.
Links:
@neilpatel
@garyvee
@toddbrown
@thesharkdaymond
@awakenwithjp
@perry.marshall
@realjayabraham
Sunday Sep 10, 2023
Sunday Sep 10, 2023
Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Neil Patel, Gary Vaynerchuk, Todd Brown, Daymond John, JP Sears, Perry Marshall and Jay Abraham and in this episode you will hear tips and tricks from top entrepreneurs about how to be a very successful entrepreneur.
(2:16) Neil Patel
Big companies typically don't pay the best. The mid sized businesses are much more flexible with their budgets and you are more likely to get them. The big companies spend money with only big agencies. If you're not one of those big agencies, you're not going to get the majority of their budget. The medium sized businesses are more flexible. If you can provide them ROI, they're willing to pay you more.
(5:50) Gary Vaynerchuk
You worry about your work life balance, and remember the key is to put yourself first. Then your wife and kids because if you’re happy then you can do anything for them and that's it. And at the end of the day that’s what matters. The only thing that should waver from what you want to do is a real belief that you are doing the wrong thing by your family. So make sure you always keep that in check.
(12:03) Todd Brown
Do right by the company that you're working for and even if you're not in a position where you can utilize your new marketing chops, your new marketing knowledge, your sales skills, that's okay. You work your job with diligence, focus and on the side, you can build your business. And then when the time is right, which you'll know it you’ll be able to walk away from a great job to a great business.
(15:33) Daymond John
You have to absolutely love what you do. Anybody out there right now, anytime they've been successful whether in their relationship or whether in business they were doing something they absolutely love. You have to absolutely love what you do. If you do it for money, you most likely are never going to make the money. You may end up in the wrong place for the money. Or even if you do make money you are going to blow it.
(19:40) JP Sears
Many people make the mistake of trying to find their purpose and then taking action. But most fail to realize that you only tend to find your passion once you start taking action. However, most want the sense of control where we want to find our purpose first so we can be guaranteed that our actions are going to be fruitful to our purpose. This is not entirely wrong but just have a comfortable chair because you're going to be waiting to take action for a lot of decades.
(23:25) Perry Marshall
Most modern people don't spend enough time in nature and, and if there is any advice that is really prominent in today’s time is to ditch your cell phone, ditch your laptop, go hiking, go to the mountains, go on a kayak and spend some time with actual nature. It will be so restorative and even though you can learn about nature in a science book, you can also learn about nature even more by being there.
(27:46) Jay Abhraham
The three ways you can grow your business is by learning how to focus on the geometry of the business, learning how to make things not just perform higher for the same cost, time, effort, opportunity or human capital but also learning how to get it to go longer. You increase the number of prospects and buyers. Then you increase the size of the transaction and then you increase the frequency or the utility of the transaction.
Links:
@neilpatel
@garyvee
@toddbrown
@thesharkdaymond
@awakenwithjp
@perry.marshall
@realjayabraham
Monday Sep 04, 2023
Monday Sep 04, 2023
Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Eric Holsapple, Allison Maslan, Fred Joyal, Kute Blackson, Robert Overweg, Tony Bradshaw, Shaahin Cheyene and in this episode you will hear tips and tricks from top entrepreneurs about how to have a successful mindset.
(2:52) Eric Holsapple
If you want the company to be mindful, it can't be without the CEO. A CEO needs to be there to be mindful and endorse the company. But the downside of this is that it pulls down too much. CEOs tend generally to do too much. So they need to offload a bunch of things so that they can be present and more aware for their company.
(7:44) Allison Maslan
When you really come to the understanding of how to build a team or manage a company, what happens is that you start to free yourself from the day to day hurdles. You’ll also start to see that ideas and massive breakthroughs for your company will happen when you are away from it. So make sure to take breaks and not let it be the center of your life everyday.
(11:38) Fred Joyal
If you're trying to never fail, that will be your greatest failure. So when you act boldly without confidence, it builds your confidence. You don't have to be confident. You just have to be bold and just commit to acting and the confidence will come from the successful boldness or even from trying and failing.
(15:26) Kute Blackson
Part of surrender is the willingness to allow life to lead you, to allow life to guide you. The mind is always trying to know what everything means. We're always trying to figure out the future. We're trying to figure out what's going to happen. But rather than trying to just project yourself into the future allow yourselves to be guided. Allow life to lead. Allow life to guide you.
(19:49) Robert Overweg
Unravel your thinking patterns, your fixed mindset. Create space in your mind and then in your organizations. Connect to your intrinsic motivation and find what energizes you to create that proper foundation. Keep trying to find new perspectives that can help you move forward.
(27:25) Tony Bradshaw
You need to get attached to people that are going in the direction you need to go. If you want to be a multimillionaire, you need to find multimillionaires to hang out with. You need to find mentors. You need to get around people that are already there. The thing is when you get caught in their jetstream you will find that this is much easier than being independent trying to figure it out on your own.
(32:32) Shaahin Cheyene
Whether you think you can or you can't, you are right. At the end of the day, it really comes down to your mindset and your unwavering belief in yourself, especially when other people don't believe in you. You need to believe in yourself if you ever hope to succeed. You are your biggest friend and supporter. If you say you are going to succeed, then you will.
Links:
@livinginthegap501c3
@allisonmaslan
@fredjoyal
@kuteblackson
@tonybradshaw_
@shaahincheyene
Sunday Sep 03, 2023
Sunday Sep 03, 2023
Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Eric Holsapple, Allison Maslan, Fred Joyal, Kute Blackson, Robert Overweg, Tony Bradshaw, Shaahin Cheyene and in this episode you will hear tips and tricks from top entrepreneurs about how to have a successful mindset.
(1:19) Eric Holsapple
If you want the company to be mindful, it can't be without the CEO. A CEO needs to be there to be mindful and endorse the company. But the downside of this is that it pulls down too much. CEOs tend generally to do too much. So they need to offload a bunch of things so that they can be present and more aware for their company.
(6:06) Allison Maslan
When you really come to the understanding of how to build a team or manage a company, what happens is that you start to free yourself from the day to day hurdles. You’ll also start to see that ideas and massive breakthroughs for your company will happen when you are away from it. So make sure to take breaks and not let it be the center of your life everyday.
(10:04) Fred Joyal
If you're trying to never fail, that will be your greatest failure. So when you act boldly without confidence, it builds your confidence. You don't have to be confident. You just have to be bold and just commit to acting and the confidence will come from the successful boldness or even from trying and failing.
(13:11) Kute Blackson
Part of surrender is the willingness to allow life to lead you, to allow life to guide you. The mind is always trying to know what everything means. We're always trying to figure out the future. We're trying to figure out what's going to happen. But rather than trying to just project yourself into the future allow yourselves to be guided. Allow life to lead. Allow life to guide you.
(17:35) Robert Overweg
Unravel your thinking patterns, your fixed mindset. Create space in your mind and then in your organizations. Connect to your intrinsic motivation and find what energizes you to create that proper foundation. Keep trying to find new perspectives that can help you move forward.
(25:11) Tony Bradshaw
You need to get attached to people that are going in the direction you need to go. If you want to be a multimillionaire, you need to find multimillionaires to hang out with. You need to find mentors. You need to get around people that are already there. The thing is when you get caught in their jetstream you will find that this is much easier than being independent trying to figure it out on your own.
(30:54) Shaahin Cheyene
Whether you think you can or you can't, you are right. At the end of the day, it really comes down to your mindset and your unwavering belief in yourself, especially when other people don't believe in you. You need to believe in yourself if you ever hope to succeed. You are your biggest friend and supporter. If you say you are going to succeed, then you will.
Links:
@livinginthegap501c3
@allisonmaslan
@fredjoyal
@kuteblackson
@tonybradshaw_
@shaahincheyene
Sunday Aug 27, 2023
Sunday Aug 27, 2023
Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Chris Prefontaine, Mat Simmons, Avery Carl, Salvatore Buscemi, Jake Stenzanio, and Gino Barbaro and in this episode you will hear tips and tricks from top entrepreneurs about how to successfully begin your career in Real Estate.
(1:29) Chris Prefontaine
There's chaos again. There's a little uncertainty again. The media's screaming recession. But all we do know is that interest rates went up. A lot of the buyers get pushed to the side who sadly thought they could buy. Demand came down a little bit and there is no other time better than right now to adapt creative financing. Recession may be scary but with proper creative financing, it shouldn’t be a problem.
(7:27) Mat Simmons
Be very picky and choosy about what you buy. Make sure that your interest rate is lower than your cap rate, so you're not negative leverage and make sure that whatever you're buying right now, with whatever loan program or debt you're using does not have a prepayment penalty on it within the next two to three years because rates are gonna be lower than in next, next two to three years than where they're at now.
(15:03) Avery Carl
Start early. The earlier you invest the better. Most of us when we are buying a house, we would require it to be like our dream house, our forever house. A house as nice as our parent’s house and for this reason we lose out on a lot of great deals. The cheap house which we rejected yesterday might be worth millions today. The best time to buy real estate was yesterday.
(20:01) Salvatore Buscemi
The type of commercial real estate comes in is speculative. That's single family homes and that's multi-family. It's a wealth creator. That's where you buy it, fix it, flip it. That's construction. You buy, you flip it, you change from class C to class B, apartment families, anything with residential. It is a wealth creation mechanism.
(25:12) Jake Stenziano
It always comes down to supply and demand. But keep in mind, This is a basic human need. You want to make sure that the jobs are there, the population is there, the growth is going to be there, wherever you're investing in. If you're in a growth market where people want to be okay, where there's population and job growth, you're gonna be much more insulated than if you're in one where they've been losing population.
(28:37) Gino Barbaro
You have to understand the market cycle and what type of asset to buy and what type of debt you need to do, and what type of exit strategy to have. You need to learn all of these things whether you're in real estate or any other investment. When you become really savvy, you know when to buy, whether the market is going up or the market's going down.
(32:07) Jake Stenziano
Buy right, manage right, and finance right. These three pillars are significant to sound multifamily investing. It's a framework. Once you buy it, that's done. Once you finance it, you’re probably fixing for a minimum of 10 years and then it all comes down to management.
Link:
@smartrealestatecoach
@realmatsimmons
@theshorttermshop
@salvatorembuscemi
@jakeandgino
Sunday Aug 27, 2023
Sunday Aug 27, 2023
Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Chris Prefontaine, Mat Simmons, Avery Carl, Salvatore Buscemi, Jake Stenzanio and Gino Barbaro and in this episode you will hear tips and tricks from top entrepreneurs about how to successfully begin your career in Real Estate.
(2:38) Chris Prefontaine
There's chaos again. There's a little uncertainty again. The media's screaming recession. But all we do know is that interest rates went up. A lot of the buyers get pushed to the side who sadly thought they could buy. Demand came down a bit, and there is no better time to adapt creative financing. Recession may be scary but with proper creative financing, it shouldn’t be a problem.
(8:42) Mat Simmons
Be very picky and choosy about what you buy. Make sure that your interest rate is lower than your cap rate, so you're not negative leverage and make sure that whatever you're buying right now, with whatever loan program or debt you're using does not have a prepayment penalty on it within the next two to three years because rates are gonna be lower than in next, next two to three years than where they're at now.
(16:18) Avery Carl
Start early. The earlier you invest the better. Most of us when we are buying a house, we would require it to be like our dream house, our forever house. A house as nice as our parent’s house and for this reason we lose out on a lot of great deals. The cheap house which we rejected yesterday might be worth millions today. The best time to buy real estate was yesterday.
(21:16) Salvatore Buscemi
The type of commercial real estate comes in is speculative. That's single family homes and that's multi-family. It's a wealth creator. That's where you buy it, fix it, flip it. That's construction. You buy, you flip it, you change from class C to class B, apartment families, anything with residential. It is a wealth creation mechanism.
(26:27) Jake Stenziano
It always comes down to supply and demand. But keep in mind, This is a basic human need. You want to make sure that the jobs are there, the population is there, the growth is going to be there, wherever you're investing in. If you're in a growth market where people want to be okay, where there's population and job growth, you're gonna be much more insulated than if you're in one where they've been losing population.
(29:51) Gino Barbaro
You have to understand the market cycle and what type of asset to buy and what type of debt you need to do, and what type of exit strategy to have. You need to learn all of these things whether you're in real estate or any other investment. When you become really savvy, you know when to buy, whether the market is going up or the market's going down.
(33:22) Jake Stenziano
Buy right, manage right, and finance right.These three pillars are significant to sound multifamily investing. It's a framework. Once you buy it, that's done. Once you finance it, you’re probably fixing for a minimum of 10 years and then it all comes down to management.
Link:
@smartrealestatecoach
@realmatsimmons
@theshorttermshop
@salvatorembuscemi
@jakeandgino