March 4, 2025 • 21 mins
Explore the complexities of international real estate investing with unique insights from an experienced investor. Learn about common misconceptions and the importance of a business mindset.
• Challenges facing cross-border investors
• Importance of treating real estate as a business
• Misconceptions within the Canadian market regarding US investments
• Tools and resources for identifying profitable property deals
• The role of clear goals in successful real estate investing
If you enjoyed today’s episode, don’t forget to subscribe, like, and hit the notification bell on our YouTube channel so you never miss an episode.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
How bad will the market go?
It's a financial investment.
I think a lot of people getthis wrong in real estate.
Speaker 2 (00:10):
Welcome to the 5 Questions Podcast, where we
unlock real estate and businessinsights one question at a time.
Welcome to the 5 QuestionsPodcast.
I am your host, mario Lamar,our guest on today's show.
(00:31):
He is an international realestate investor.
With his experience andinsights, he helped many, many
Canadians invest in the US realestate market and he is an
award-winning real estateinvestor.
Danny Sai Danny, thank you somuch for being on the show today
(00:51):
with us.
Speaker 1 (00:53):
Thank you, Mario, and thank you for the introduction.
I like to keep it very simple,but the whole media is full of a
lot of shiny objects and shinytitles.
But I'm just a simple realestate investor.
Thank you.
Speaker 2 (01:09):
Well, that's good, but we're going to poke your
brain because you did some greatstuff with real estate and I
want to learn more about it.
The concept of the podcast isfive questions about real estate
or business and we get straightto the point.
You ready, let's go?
Okay.
So your journey spanscontinents, many, many
(01:30):
continents, from Asia to Canadato the US.
I want to ask you whatinitially drew you to
international real estateinvesting and maybe how did you
navigate these unique challengesof each market?
Speaker 1 (01:47):
That's a great question, mario Mario.
I was born in Hong Kong andgold is cheaper than real estate
in that island.
Wow, affording a home formyself was close to impossible,
even not having a nine to five,but even being a business owner,
(02:10):
yeah.
So, as we know, when we buyreal estate, we want real estate
to at least be break even orcash positive.
Real estate to at least bebreak-even or cash positive.
And I read books on real estateand these are the things I took
(02:36):
away from the book.
So I invested across to amarket where it was more
cashflow positive and also maybeI could use so one of the
examples.
As I said, I was born in HongKong.
I invested in China because itwas a great market.
(02:57):
I just thought that with morethan the population that they
have, with 1 billion people, howbad will the market go?
It's a financial investment.
I think a lot of people getthis wrong in real estate.
They think real estate is ahome to buy and a home to sell.
(03:19):
A lot of real estate agents dothat.
So there's a big population ofreal estate agents versus real
estate investors out there.
So, to get this right, whenyou're an investor, we look at
it whether we can be cashpositive, whether we are
investing in a landlord-friendlycity, state, province.
(03:42):
So I think that attracted me togo cross borders.
Speaker 2 (03:49):
And is there any challenges that different
markets have versus the other?
Speaker 1 (03:55):
Yes, definitely so.
Investing in a different market, you will always face
challenges, and the challengesare language, and it's not
saying the language of Canadiansis English and the language of
Americans is English, butthere's a big difference in the
(04:17):
language used, right?
So the way we take things inCanada versus we take in US is
two different ballgames.
The system is different.
That's a big challenge.
The legal documentation is achallenge.
That's a big difference.
The financing is a difference.
(04:37):
So there are a lot ofchallenges.
Speaker 2 (04:42):
So there are a lot of challenges.
So that brings us to our secondquestion, because you know
being investing in differentmarkets also, sometimes we need
to learn about these differentmarkets and you openly shared
about doing mistakes in yourearly days of investing.
(05:03):
Yes, can you walk us throughmaybe one moment and how it
shaped your investmentphilosophy for today?
Speaker 1 (05:16):
Sure.
So one of my biggest mistakesin the early days was to
purchase pre-sale.
Okay, and because I was not aninvestor mindset, I was a common
man's mindset.
Right, as I said earlier, wehave more real estate agents
(05:37):
than we have investors, and anagent will tell you a pre-sale
is always a good deal.
The reason being is that thecity is growing, the location,
the price versus.
You know and they'll usuallyshow you the other part that the
price today is not going toremain today and with inflation
(05:58):
in any country, whether it's inAsia, whether it's US, whether
it's Canada, it's the same thingthat you could profit from that
investment.
However, my mindset today itgoes reversed and it's not
rocket science.
But is that property going tocash flow if I'm going to rent
(06:21):
it out?
Right?
Am I buying this for myself anddo I need that much space for
me to invest in that?
Maybe not.
Speaker 2 (06:36):
Well, the number one thing that investors and that's
the basic your property shouldcash flow, because you can maybe
swing it by a little bit oftime, but you can't grow a
business if none of theproperties cash flow.
Speaker 1 (06:52):
Yeah, so you said it.
Spot on, mario.
If this is going to be abusiness, it has to work for
itself, versus you working forit all your life.
Speaker 2 (07:06):
Yeah.
So that's the change in mymindset today very important
point that our listeners shouldshould take away from.
This is one of and the biggestmistakes that most investors do
in their early stage is theyfall in love with a property
(07:27):
instead of treating it as abusiness and in your case, like
you mentioned, cashflow was wasmaybe missing a little bit in
the early stages and then nowyou're shifting or you shifted
for a while now, but yourmindset on treating it as a
business and how you can growfrom from one property to the
other yeah, you know I, I havethis philosophy today.
Speaker 1 (07:52):
You know I, when one has pain, it's very painful,
yeah, but when one converts the,it's very painful, yeah, but
when one converts the pain itbecomes very powerful.
Speaker 2 (08:03):
Yeah, absolutely, because you'll never make that
same mistake twice.
Yes, sir, and you can teachothers not to make that same
mistake.
Yes, sir.
Okay, that brings us toquestion number three, and you
help many Canadians.
But if somebody or a Canadianwould be exploring the US real
(08:27):
estate opportunities or market,what's the biggest misconception
they have and maybe how do youhelp them overcome these
misconceptions?
Speaker 1 (08:39):
That's really one of the biggest problems we are
facing today with Canadians, andCanadians think that the US
financing system is like Canada,and that is a big misconception
.
The other thing which is rightnow live in the news and 95% of
(09:04):
the public watches news.
I don't, but I get forward,yeah, and that with the new
government coming in, you knowit might not be the same.
Yeah, in my view and I could bewrong and I hope I'm not every
(09:27):
country, whether it's the UnitedStates or whether it's India,
or whether it's China, orwhether it's Australia or Great
Britain, they are looking forinvestments to come into the
country so the economy canflourish.
So we're watching news and thefear that's in a lot of
(09:51):
Canadians today.
That should be diverted becauseat the end of the day, as I
said, when we are running a realestate investment, it's a
business, and a business if youcan see a profit now, the only
way that will just wash away isif the US dollar changes.
Speaker 2 (10:16):
Yeah.
Speaker 1 (10:18):
So, that's in the minds of a lot of people.
Speaker 2 (10:27):
Yeah, learning how to properly learn how the banking
system works differently than inCanada, because we're talking
about US real estate investingnow.
That's one of the things thatmost people have a misconception
about.
Speaker 1 (10:41):
Yes, sir, and I'm having an event on the 18th of
January 2025, just to answerquestions, like you asked me
just now, and a lot more thanthat.
Speaker 2 (10:55):
Okay, so we'll make sure to try to put that out
there.
It's coming soon, though.
Speaker 1 (11:02):
Yes sir.
Speaker 2 (11:04):
Question number four you have a lot of experience, as
we mentioned, and maybe whatkind of tools you use, or one
practical strategy or resourceor tool you recommend for
identifying profitablecross-border deals?
Speaker 1 (11:25):
That's a million-dollar question, Mario.
We're there to give a lot ofvalue to our viewers.
That is a million-dollarquestion.
You know you want to hit itright to the top, so your
listeners get a lot of value.
I really appreciate that andI'm going to try my best to
answer this shortest and spot on.
(11:46):
For curious investors, they cango to a public website such as
Zillowcom, realtorcom, to finddeals.
Okay.
However, if you want to run aninvestment business in the US,
(12:08):
you've got to havea lot moreexperience to go into public
records, access public recordssuch as county records right to
understand whether that deal isa good deal and whether you can
buy it.
Speaker 2 (12:31):
I love your answer because there's something to
differentiate just buying a fewproperties and growing a real
estate business.
When you go to realtorcom orZillow, you see the deal in
front of you but very limitedknowledge of the history of that
(12:54):
property or or this.
Why is it for sale?
And that will give you theanswer on how to make your offer
, how low, how high you can goand really how to acquire these
(13:14):
properties.
And you're absolutely right,accessing these city or counties
database information.
That what differentiate aseasonal real estate investor
versus a professional one.
Speaker 1 (13:32):
Yes, sir.
And to add to that, I dounderstand and I do know a lot
of fellow investors are going toZillow and Realtorcom and
finding deals that might be anauction.
But I have a friend who lost$110,000 yesterday.
Wow, that's a lot of money.
And my fellow friend startedhis journey more or less the
(13:57):
same time.
However, he thought that realestate is something that he can
win by himself, versus gettinginto the right community,
finding like-minded people,knowing that somebody has your
(14:18):
back, knowing that you can do ajoint venture with somebody in
the community.
Do a joint venture withsomebody in the community.
And so you know.
To that question, I purchased anauction property again in
Cleveland, ohio, on October 26th.
We closed that property.
It was on auction.
(14:39):
Now, auction properties don'tallow you to access the property
before time.
It just goes on auction and youbid.
Who bids highest wins theproperty.
However, with our relationshipin the market, we were able to
access the property.
We were able to see what'sinside the property before we
(15:05):
went and bid.
Now, that is a very bigadvantage when you know what to
do and you know how to do it andknow when to do it to succeed
in your transaction.
Speaker 2 (15:22):
Well, you said it Real estate as a business, you
cannot do it alone.
If you want to do it alone Idid it at the beginning myself
too, and I lost money on a dealbecause I tried to do it alone
If you do it as a team, youbuild a proper team around you,
(15:44):
much more solid as an investor,very likely to less to make a
mistake.
And that's millions notmillions, but maybe in some case
, but thousands and thousands,sometimes hundreds of thousands
of dollars saved by avoidingthese mistakes.
That's right.
By avoiding these mistakes,that's right.
(16:05):
Talking about having a properteam, you know, and doing it the
right way.
Looking back at yourtransformation, that's our fifth
question for you.
What role did having cleargoals, a vision, play into your
(16:26):
real estate, turning your realestate into a profession, and
maybe how can others replicatethat success that they want to
have the same success as you?
Speaker 1 (16:35):
Wow.
That is, as I said earlier,when you have pain, how to
transform that power.
It's exactly what I did, Notthat I'm a pain-free person.
I do have a lot of pains orproblems, but way lesser than a
(17:02):
normal person, I would say.
So your question is how did Ido it?
Did I understand it correctly?
Speaker 2 (17:12):
Yeah.
So let's say you know, you lookback at your transformation
from when you started to now,having clear goals, having a
vision, and if somebody wants toreplicate or do like you,
accomplish the same nice stepsor goals that you did, or now
(17:34):
you're successful, you're anaward-winning real estate
investor, how can somebody dolike you?
Speaker 1 (17:40):
I would say before your goal, set your vision right
, because goal is something thatyou will go and achieve, but if
you don't know what that lookslike, you're not going to
achieve it or you might achievethe wrong thing.
So one of mine and my wife'smentors was Bob Proctor.
(18:04):
Mine and my wife's mentors wasBob Proctor, and his example was
when you're a pilot, you knowthat you're flying from A to B.
Everybody knows it, yeah.
But when you're flying A to B,are you prepared for some windy
(18:26):
clouds, rain, thunder, andthat's the vision right when you
are setting your goals.
Let's say you're setting yourgoals in normal life, that you
are trying to achieve a milliondollars.
Now, if you get a milliondollars, mario, will you be
(18:52):
satisfied and happy?
Speaker 2 (18:55):
Most people are.
I won't, because it's not aboutthe end goal in my mind.
Speaker 1 (19:00):
Right.
So a lot of people pray thatknow, pray that you know they
can reach a million dollars.
And then, when they reach amillion dollars, they say this
is not enough Because the goal,the vision, was wrong.
Yeah, the vision if in thefirst place, they could think
(19:22):
big and they could expand theirmind and think $10 million it's
just the extra zero.
Yeah, and then make the goalsin those steps.
Now remember, $10 million isnot going to be achieved in one
day or in one month.
This is a long-term vision.
(19:43):
Now, when you have expandedyour vision, you will set your
goals.
The goals are set based on howbig your vision is.
If your vision is small, yourgoals are small.
When your vision is huge, yourgoals list will be huge too.
(20:05):
But guess what?
You can work towards it.
You can do one, two, threesimple math and keep going, and
you might get stopped whenyou're going on your goal, when
you are writing your vision.
It takes a lot of time, yeah.
Speaker 2 (20:23):
I give the example, often, of a staircase.
You know, if it's a big, bigstaircase, you don't just climb
it in one step.
Each step is a goal.
You do one step at a time.
One goal at a time.
You might stop halfway becauseyou're out of breath, and then
(20:47):
you continue and you go on thenext step and eventually you
reach your goal or the top ofthe staircase.
So, yeah, well, danny, it wasso nice and so satisfying to
talk with you.
You got lots of knowledge, lotsof experience.
I hope that our listeners aregoing to take away a few pieces
(21:09):
with them on their journey andthank you again for taking the
time to be on the Five Questionspodcast.
Speaker 1 (21:15):
Thank you, mario, and I appreciate you having me on
your podcast today.
Speaker 2 (21:18):
No problem, We'll talk soon.
Thanks for tuning in to theFive Questions podcast.
If you enjoyed today's episodetuning into the five questions
podcast.
If you enjoyed today's episode,don't forget to subscribe, like
and hit the notification bellon our YouTube channel so you
never miss an episode.
Stay tuned for more insightsand tips to transform your real
estate and business game.
See you next time.
How bad will the market go?
It's a financial investment.
I think a lot of people getthis wrong in real estate.
Speaker 2 (00:10):
Welcome to the 5 Questions Podcast, where we
unlock real estate and businessinsights one question at a time.
Welcome to the 5 QuestionsPodcast.
I am your host, mario Lamar,our guest on today's show.
(00:31):
He is an international realestate investor.
With his experience andinsights, he helped many, many
Canadians invest in the US realestate market and he is an
award-winning real estateinvestor.
Danny Sai Danny, thank you somuch for being on the show today
(00:51):
with us.
Speaker 1 (00:53):
Thank you, Mario, and thank you for the introduction.
I like to keep it very simple,but the whole media is full of a
lot of shiny objects and shinytitles.
But I'm just a simple realestate investor.
Thank you.
Speaker 2 (01:09):
Well, that's good, but we're going to poke your
brain because you did some greatstuff with real estate and I
want to learn more about it.
The concept of the podcast isfive questions about real estate
or business and we get straightto the point.
You ready, let's go?
Okay.
So your journey spanscontinents, many, many
(01:30):
continents, from Asia to Canadato the US.
I want to ask you whatinitially drew you to
international real estateinvesting and maybe how did you
navigate these unique challengesof each market?
Speaker 1 (01:47):
That's a great question, mario Mario.
I was born in Hong Kong andgold is cheaper than real estate
in that island.
Wow, affording a home formyself was close to impossible,
even not having a nine to five,but even being a business owner,
(02:10):
yeah.
So, as we know, when we buyreal estate, we want real estate
to at least be break even orcash positive.
Real estate to at least bebreak-even or cash positive.
And I read books on real estateand these are the things I took
(02:36):
away from the book.
So I invested across to amarket where it was more
cashflow positive and also maybeI could use so one of the
examples.
As I said, I was born in HongKong.
I invested in China because itwas a great market.
(02:57):
I just thought that with morethan the population that they
have, with 1 billion people, howbad will the market go?
It's a financial investment.
I think a lot of people getthis wrong in real estate.
They think real estate is ahome to buy and a home to sell.
(03:19):
A lot of real estate agents dothat.
So there's a big population ofreal estate agents versus real
estate investors out there.
So, to get this right, whenyou're an investor, we look at
it whether we can be cashpositive, whether we are
investing in a landlord-friendlycity, state, province.
(03:42):
So I think that attracted me togo cross borders.
Speaker 2 (03:49):
And is there any challenges that different
markets have versus the other?
Speaker 1 (03:55):
Yes, definitely so.
Investing in a different market, you will always face
challenges, and the challengesare language, and it's not
saying the language of Canadiansis English and the language of
Americans is English, butthere's a big difference in the
(04:17):
language used, right?
So the way we take things inCanada versus we take in US is
two different ballgames.
The system is different.
That's a big challenge.
The legal documentation is achallenge.
That's a big difference.
The financing is a difference.
(04:37):
So there are a lot ofchallenges.
Speaker 2 (04:42):
So there are a lot of challenges.
So that brings us to our secondquestion, because you know
being investing in differentmarkets also, sometimes we need
to learn about these differentmarkets and you openly shared
about doing mistakes in yourearly days of investing.
(05:03):
Yes, can you walk us throughmaybe one moment and how it
shaped your investmentphilosophy for today?
Speaker 1 (05:16):
Sure.
So one of my biggest mistakesin the early days was to
purchase pre-sale.
Okay, and because I was not aninvestor mindset, I was a common
man's mindset.
Right, as I said earlier, wehave more real estate agents
(05:37):
than we have investors, and anagent will tell you a pre-sale
is always a good deal.
The reason being is that thecity is growing, the location,
the price versus.
You know and they'll usuallyshow you the other part that the
price today is not going toremain today and with inflation
(05:58):
in any country, whether it's inAsia, whether it's US, whether
it's Canada, it's the same thingthat you could profit from that
investment.
However, my mindset today itgoes reversed and it's not
rocket science.
But is that property going tocash flow if I'm going to rent
(06:21):
it out?
Right?
Am I buying this for myself anddo I need that much space for
me to invest in that?
Maybe not.
Speaker 2 (06:36):
Well, the number one thing that investors and that's
the basic your property shouldcash flow, because you can maybe
swing it by a little bit oftime, but you can't grow a
business if none of theproperties cash flow.
Speaker 1 (06:52):
Yeah, so you said it.
Spot on, mario.
If this is going to be abusiness, it has to work for
itself, versus you working forit all your life.
Speaker 2 (07:06):
Yeah.
So that's the change in mymindset today very important
point that our listeners shouldshould take away from.
This is one of and the biggestmistakes that most investors do
in their early stage is theyfall in love with a property
(07:27):
instead of treating it as abusiness and in your case, like
you mentioned, cashflow was wasmaybe missing a little bit in
the early stages and then nowyou're shifting or you shifted
for a while now, but yourmindset on treating it as a
business and how you can growfrom from one property to the
other yeah, you know I, I havethis philosophy today.
Speaker 1 (07:52):
You know I, when one has pain, it's very painful,
yeah, but when one converts the,it's very painful, yeah, but
when one converts the pain itbecomes very powerful.
Speaker 2 (08:03):
Yeah, absolutely, because you'll never make that
same mistake twice.
Yes, sir, and you can teachothers not to make that same
mistake.
Yes, sir.
Okay, that brings us toquestion number three, and you
help many Canadians.
But if somebody or a Canadianwould be exploring the US real
(08:27):
estate opportunities or market,what's the biggest misconception
they have and maybe how do youhelp them overcome these
misconceptions?
Speaker 1 (08:39):
That's really one of the biggest problems we are
facing today with Canadians, andCanadians think that the US
financing system is like Canada,and that is a big misconception
.
The other thing which is rightnow live in the news and 95% of
(09:04):
the public watches news.
I don't, but I get forward,yeah, and that with the new
government coming in, you knowit might not be the same.
Yeah, in my view and I could bewrong and I hope I'm not every
(09:27):
country, whether it's the UnitedStates or whether it's India,
or whether it's China, orwhether it's Australia or Great
Britain, they are looking forinvestments to come into the
country so the economy canflourish.
So we're watching news and thefear that's in a lot of
(09:51):
Canadians today.
That should be diverted becauseat the end of the day, as I
said, when we are running a realestate investment, it's a
business, and a business if youcan see a profit now, the only
way that will just wash away isif the US dollar changes.
Speaker 2 (10:16):
Yeah.
Speaker 1 (10:18):
So, that's in the minds of a lot of people.
Speaker 2 (10:27):
Yeah, learning how to properly learn how the banking
system works differently than inCanada, because we're talking
about US real estate investingnow.
That's one of the things thatmost people have a misconception
about.
Speaker 1 (10:41):
Yes, sir, and I'm having an event on the 18th of
January 2025, just to answerquestions, like you asked me
just now, and a lot more thanthat.
Speaker 2 (10:55):
Okay, so we'll make sure to try to put that out
there.
It's coming soon, though.
Speaker 1 (11:02):
Yes sir.
Speaker 2 (11:04):
Question number four you have a lot of experience, as
we mentioned, and maybe whatkind of tools you use, or one
practical strategy or resourceor tool you recommend for
identifying profitablecross-border deals?
Speaker 1 (11:25):
That's a million-dollar question, Mario.
We're there to give a lot ofvalue to our viewers.
That is a million-dollarquestion.
You know you want to hit itright to the top, so your
listeners get a lot of value.
I really appreciate that andI'm going to try my best to
answer this shortest and spot on.
(11:46):
For curious investors, they cango to a public website such as
Zillowcom, realtorcom, to finddeals.
Okay.
However, if you want to run aninvestment business in the US,
(12:08):
you've got to havea lot moreexperience to go into public
records, access public recordssuch as county records right to
understand whether that deal isa good deal and whether you can
buy it.
Speaker 2 (12:31):
I love your answer because there's something to
differentiate just buying a fewproperties and growing a real
estate business.
When you go to realtorcom orZillow, you see the deal in
front of you but very limitedknowledge of the history of that
(12:54):
property or or this.
Why is it for sale?
And that will give you theanswer on how to make your offer
, how low, how high you can goand really how to acquire these
(13:14):
properties.
And you're absolutely right,accessing these city or counties
database information.
That what differentiate aseasonal real estate investor
versus a professional one.
Speaker 1 (13:32):
Yes, sir.
And to add to that, I dounderstand and I do know a lot
of fellow investors are going toZillow and Realtorcom and
finding deals that might be anauction.
But I have a friend who lost$110,000 yesterday.
Wow, that's a lot of money.
And my fellow friend startedhis journey more or less the
(13:57):
same time.
However, he thought that realestate is something that he can
win by himself, versus gettinginto the right community,
finding like-minded people,knowing that somebody has your
(14:18):
back, knowing that you can do ajoint venture with somebody in
the community.
Do a joint venture withsomebody in the community.
And so you know.
To that question, I purchased anauction property again in
Cleveland, ohio, on October 26th.
We closed that property.
It was on auction.
(14:39):
Now, auction properties don'tallow you to access the property
before time.
It just goes on auction and youbid.
Who bids highest wins theproperty.
However, with our relationshipin the market, we were able to
access the property.
We were able to see what'sinside the property before we
(15:05):
went and bid.
Now, that is a very bigadvantage when you know what to
do and you know how to do it andknow when to do it to succeed
in your transaction.
Speaker 2 (15:22):
Well, you said it Real estate as a business, you
cannot do it alone.
If you want to do it alone Idid it at the beginning myself
too, and I lost money on a dealbecause I tried to do it alone
If you do it as a team, youbuild a proper team around you,
(15:44):
much more solid as an investor,very likely to less to make a
mistake.
And that's millions notmillions, but maybe in some case
, but thousands and thousands,sometimes hundreds of thousands
of dollars saved by avoidingthese mistakes.
That's right.
By avoiding these mistakes,that's right.
(16:05):
Talking about having a properteam, you know, and doing it the
right way.
Looking back at yourtransformation, that's our fifth
question for you.
What role did having cleargoals, a vision, play into your
(16:26):
real estate, turning your realestate into a profession, and
maybe how can others replicatethat success that they want to
have the same success as you?
Speaker 1 (16:35):
Wow.
That is, as I said earlier,when you have pain, how to
transform that power.
It's exactly what I did, Notthat I'm a pain-free person.
I do have a lot of pains orproblems, but way lesser than a
(17:02):
normal person, I would say.
So your question is how did Ido it?
Did I understand it correctly?
Speaker 2 (17:12):
Yeah.
So let's say you know, you lookback at your transformation
from when you started to now,having clear goals, having a
vision, and if somebody wants toreplicate or do like you,
accomplish the same nice stepsor goals that you did, or now
(17:34):
you're successful, you're anaward-winning real estate
investor, how can somebody dolike you?
Speaker 1 (17:40):
I would say before your goal, set your vision right
, because goal is something thatyou will go and achieve, but if
you don't know what that lookslike, you're not going to
achieve it or you might achievethe wrong thing.
So one of mine and my wife'smentors was Bob Proctor.
(18:04):
Mine and my wife's mentors wasBob Proctor, and his example was
when you're a pilot, you knowthat you're flying from A to B.
Everybody knows it, yeah.
But when you're flying A to B,are you prepared for some windy
(18:26):
clouds, rain, thunder, andthat's the vision right when you
are setting your goals.
Let's say you're setting yourgoals in normal life, that you
are trying to achieve a milliondollars.
Now, if you get a milliondollars, mario, will you be
(18:52):
satisfied and happy?
Speaker 2 (18:55):
Most people are.
I won't, because it's not aboutthe end goal in my mind.
Speaker 1 (19:00):
Right.
So a lot of people pray thatknow, pray that you know they
can reach a million dollars.
And then, when they reach amillion dollars, they say this
is not enough Because the goal,the vision, was wrong.
Yeah, the vision if in thefirst place, they could think
(19:22):
big and they could expand theirmind and think $10 million it's
just the extra zero.
Yeah, and then make the goalsin those steps.
Now remember, $10 million isnot going to be achieved in one
day or in one month.
This is a long-term vision.
(19:43):
Now, when you have expandedyour vision, you will set your
goals.
The goals are set based on howbig your vision is.
If your vision is small, yourgoals are small.
When your vision is huge, yourgoals list will be huge too.
(20:05):
But guess what?
You can work towards it.
You can do one, two, threesimple math and keep going, and
you might get stopped whenyou're going on your goal, when
you are writing your vision.
It takes a lot of time, yeah.
Speaker 2 (20:23):
I give the example, often, of a staircase.
You know, if it's a big, bigstaircase, you don't just climb
it in one step.
Each step is a goal.
You do one step at a time.
One goal at a time.
You might stop halfway becauseyou're out of breath, and then
(20:47):
you continue and you go on thenext step and eventually you
reach your goal or the top ofthe staircase.
So, yeah, well, danny, it wasso nice and so satisfying to
talk with you.
You got lots of knowledge, lotsof experience.
I hope that our listeners aregoing to take away a few pieces
(21:09):
with them on their journey andthank you again for taking the
time to be on the Five Questionspodcast.
Speaker 1 (21:15):
Thank you, mario, and I appreciate you having me on
your podcast today.
Speaker 2 (21:18):
No problem, We'll talk soon.
Thanks for tuning in to theFive Questions podcast.
If you enjoyed today's episodetuning into the five questions
podcast.
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and hit the notification bellon our YouTube channel so you
never miss an episode.
Stay tuned for more insightsand tips to transform your real
estate and business game.
See you next time.
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