Episode Transcript
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Welcome to the On PurposeInvestor.
My name is Eric, and this showis where intentionality meets
investing in yourself and yourfinances.
And I'm Josh and together we'llexplore the strategies,
insights, and stories combinedwith inspiration and motivation
to help you live with purposeand make an impact.
Now, whether you're a seasonedinvestor or just getting
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started, join us each week, aswe dive deep into the world of
intentional investing.
what's going on out there,everybody?
I hope that you are doing great.
We're gonna talk somethingreally simple today, and the
purpose of this episode is totalk to the people who have ever
thought about walking away fromreal estate investing.
Now, if the numbers aren'tworking maybe the contractors
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have ghosted you.
What if your spouse isquestioning this whole idea and
you're wondering if it's allworth it?
Am I describing you?
And if so, I would challenge youjust to listen through to the
end of this quick episode.
See, I have been there and inthe middle of the mess I've
wondered if it was all going tomake it.
I wondered if it was gonnahappen.
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I wondered if it was gonna fallapart.
But let me tell you somethingthat I've learned on the journey
and that is, is that the peoplewho win in real estate, they are
not necessarily the smartestthey are not necessarily the
ones who are wealthy.
In fact, quite frankly, the oneswho are most successful
typically start off dirt poor.
Maybe they're not the bestlooking.
My wife might say, that's me.
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Maybe they're not the mostinfluential in their town.
Maybe they don't have the greatpeople skills.
Maybe they don't have every havethose things.
But let me tell you what, theyare the ones who make it in real
estate.
Here we go.
They're the ones who just keepshowing.
That's right.
That's what I wanna challengeyou today is to, I wanna talk
with you about, just keepshowing up.
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First thing I wanna mention,there are some things that HGTV
just doesn't show you.
And if you've been listening tothe On Purpose Investor podcast
for a while, or the AgentAccelerator podcast, the things
that you'll know in our show,for example, on purpose
investor, scroll all the wayback to the beginning episodes
and really listen to Eric andTiffany talk.
You'll notice they shared thetimes that they were successful.
They shared some times theyweren't successful.
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Same thing's true when you'rebuilding a real estate agent
team, building a portfolio is.
Often the outside world doesn'tshow you the hiccups.
For example, delayed permits.
What about the time your fundingdidn't work?
I mean, we recently had aproject last year where we got
to the end of the project andthat DSCR rate and term
refinance.
It didn't happen like we neededguys and we were stuck with a
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house Should tell you we solvedthe problem, but it wasn't just
easy paperwork or What aboutthis one?
Your partners start flaking?
Yeah I've had some contractorswalk off some jobs.
I've had that happen, and Ithink to myself, what am I gonna
do?
How am I gonna make it?
Maybe you've been out there,maybe that's where you're at
right now.
Sometimes there's some sleeplessnights.
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I mean, sometimes you do all thethings that you think are right
and you get to the end and yougo, what went wrong?
But here's the breakthroughlesson I wanna give you today.
Progress often comes disguisedas frustration.
I wanna say that one more timein case you're taking some notes
on this.
Progress often comes disguisedas frustration.
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For example, in the process ofthe property I had that didn't
refinance correctly, this iswhat I learned.
I learned how to raiseself-directed IRA money.
In fact, in the process ofgetting myself outta that pit, I
not only learned how to raisemoney through the self-directed
IRA, but I also learned how Icould lend as a self-directed
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IRA.
So I've made far more moneybecause of that mistake.
I remember what it was like.
We recently got into a propertyand we get up top and realize
that the electrical was allfabric, electrical up top,
running through the attic.
It sounds bad.
We had, we literally had to takeout all the electrical and redo
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all of it.
But what did I learn in theprocess?
I learned about pulling permits.
I learned about how to like forexample on my job that comes
after this that has electricalissues, I learned what to
inspect and to do a better jobon that.
As a result, I will never forgetthe first time I was trying to
get my first.
Private hard money loan, and Iwent to this individual and I
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presented very poorly on whythey should lend me money.
It was awful.
It was a horrible presentation.
I did not do good at all.
But in the process of failing atthat moment, what did I learn?
I learned the right things tosay.
I learned it when this greatlender looked at me and he kind
of smiled and he chuckled.
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He said, son, I don't need toknow all that stuff.
Just tell me the deal.
Here's what I need to know.
Come back to me with thesenumbers.
And in that moment, I learnedwhat those numbers were.
See, my progress came and itcame disguised as frustration.
Here's another quote for you.
The business of real estateinvesting and being a real
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estate agent for that matter,the two of them, they reward
grit more than glamor.
I will never forget when I wentto my first real estate meetup.
I went there, I was dressed tokill because I thought I'm about
to be in the room where ithappened.
The room where it happened.
I'm gonna be in this room withmillionaires.
Oh my gosh.
They're gonna be wearing theirVersace.
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They're gonna pull up and thatbins Alexis.
Hey, what's funny is I get thereand all these dudes and ladies,
they're all wearing Hawaiianshirts.
Shorts, their cars are paid forcars that you know, a couple
people who were a little bitfurther enders, if you will, had
really nice cars, but the vastmajority of them were just
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average people.
See, they had grit and theyunderstood that being a
successful investor is moreabout grit than it is glamor.
Something else you can take fromthis, or maybe you're not a
glamorous person.
Maybe you're not the type ofperson that walks in a room and
lights it all up.
I joke around my partner Eric.
Eric is that guy, dude.
Eric walks in a room and buddy,he lights it up.
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I'm a numbers guy.
Let me talk about spreadsheets.
I mean, let me show you thespreadsheets.
But again, this business, thisworld of real estate, it's big
enough for both of us.
Something else is that realestate investing is a team
sport.
See, it's big enough for aperson like my partner, Eric,
who's got that personality, andit's big enough for me.
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And if you're listening to thisepisode out there, it's big
enough for you two.
So how do you get there?
How do you get the grit?
How do you get focused on theprogress and not the
frustration?
Well, it's easy.
That's your why.
A lot of people never want totake the time to sit down and
write out their why.
Why are you a real estateinvestor?
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What is important to you?
Is it freedom, generationalwealth?
Is it your impact?
I.
Is it time with family?
That's what my why is.
My why is I wanna spend moretime with my family.
And at 42 I'm in halftime of mylife.
I'm going into the second half.
And I gotta be honest with you,when I leave this world, and the
reality is I'm getting closer tothat every day, but I wanna
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leave an impact.
I want, when I die, I wantsomeone to come to my funeral
and say, here lies a person.
And his life mattered and it wasbigger than himself.
I want that.
And real estate investing givesme that opportunity.
What is your why?
Write it down.
One of the things that you cando at Dream Life University, and
if you don't know about DreamLife University, just go to on
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purpose investor.com.
You can read about it there, butI took Dream Life University and
what was interesting dad is Erichad us write down what our why
was.
We didn't just write it down.
I mean, we mapped out what ourDream day was.
I made a storyboard full ofpictures, which again, my
personality is a spreadsheet.
I was not all into thatlovey-dovey stuff.
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But to this day, I look at itbecause it is my why, and I have
the power Now, the fuel, becauseI took the time to write it
down.
If you're out there listeningyour action step, write it down,
say it out loud, keep it frontand center because your why is
what's gonna keep you movingforward when the deals get hard
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and the doubts get loud.
I'm gonna say that one moretime.
Your deal, your, excuse me.
Your why is what's gonna keepyou moving forward when the
deals get hard and the doubtgets louder?
My wife and I have thisstatement on our board.
It says that today we have tolet our dreams speak louder than
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our fears.
Let your dreams be louder thanyour fears.
So here are three powerfulmindset actions I want to and
just challenge you today.
The, these are not aboutperfection.
These are not earth shattering,but it is about helping you do
the one thing that will keep youfrom failing, and that is to
show up.
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Number one, simplify your nextstep.
A lot of people get so focused,they think they get that
analysis paralysis that theyneed a 10 step action plan,
newsflash.
Eric and I were talking aboutthis today.
You just need the next step.
Get to the next call, get to thenext offer.
Get to that next learningopportunity when you're getting
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started or may, maybe you'vebeen doing this for a while and
you're like with the market isshifting.
Look, newsflash the market whereI'm at least it is definitely
shifting.
It's changing stock market atthe time.
I'm recording this in April.
It's changing.
We don't know what's gonnahappen, but I don't have to
focus.
25 steps down the road, I needto focus on the next offer.
I need to focus on the nextstep.
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Something else that I find thatis interesting.
I'm a person of faith, so ifthis is just as a, you know,
just bleep through this reallyquickly, if you're not a
religious person, but as areligious person who believes in
a higher power, I believe thatGod has already determined my
next step.
I don't have to worry abouttomorrow because God has already
promised it to me.
I already read the back of thatbook and I believe I win.
So that gives me comfort.
That gives me peace.
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Number two, let's move on.
So number one was simplify yournext step.
Number two, surround yourselfwith belief.
Get people around you who youare.
They're out there doing it.
Join a local meetup, amastermind, find you a mentor.
Let me just tell you if you'reout there, deal maker
atlanta.com, that's our meetupif you're in Atlanta, we have
people, by the way, that don'teven live in Atlanta.
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They are literally driving.
We had somebody a couplemeetings ago that flew in to
come to this meeting.
And here's what we do is we justall show up.
We're there to support eachother.
Yeah, we have a topic we'regonna learn about something.
And then the most powerfulmoment, one of my mentors, Danny
said at this, the most powerfulpart of the meeting is the
meeting after the meeting.
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And that's where we all gettogether and we talk to each
other and we network and wehelp.
And quite frankly, we encourageeach other because if I'm
surrounded by people who aredoing it, it helps me to realize
that I can do it too.
To put it this way to state itjust a little bit differently.
Greatness is for everyone.
And if you're listening to thisepisode right now, I want you to
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know that greatness is for you.
So surround yourself with peoplewho believe it.
Number one was simplify the nextstep.
Number two was surround yourselfwith belief.
And number three is remember whoyou are becoming.
Yeah.
Every challenge is shaping youinto the kind of person who can
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hold the success you're chasing.
A lot of people get really tighton, on money.
I like to say this, if yourhand, your fist is always closed
'cause you're trying to hold on,you can never receive anything.
Get your fist open, givegeneralists generously to those
around you.
Believe in other people becauseif I'm wanting to be a person
who receives a lot, I need to bea person who is giving a lot,
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because every challenge that Iface is shaping me to become the
person that can hold the verysuccess that I'm chasing.
By the way to cycle back tonumber two, surround yourself
with belief.
Who are you hanging out with?
If you're not able to getsomewhere, it might be that the
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people around you are pullingyou down to their level because
you can never rise past thepeople who you spend the
majority of your time with.
So think about who you arebecoming.
Focus on that.
What books are you reading?
What podcast are you listeningto?
What YouTube videos are youwatching?
Become the person that you wantto be.
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So if you are out there andyou're trying to build something
bigger than yourself, or ifyou're fighting for freedom in a
future that most people don'tbelieve in May, maybe even you
don't fully believe it, I wantyou to know that Eric and I, we
see it, Rachel and I.
We see it.
We see you, we believe you.
And if you need a place to plugin, if you want people to walk
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just walk.
Beside you, we've got that foryou as well.
Go to on purpose investor.com.
Let us let Eric and I walkbeside you.
Or if you're a real estateagent, the Agent Accelerator
Podcast, come find me onInstagram at jrb dream team.
Let Rachel and I walk beside youbecause we're stronger when we
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work together.
Now the last thing I wanna tellyou is just thank you for
listening to this show andremember, just keep building.
More importantly, keep showingup and remember that success is
for you too, and you are closerto it than you think.
If you love what you heardtoday, it would mean the world
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to us.
If you would take a moment torate review and share this
podcast with someone that youbelieve would benefit to sharing
is the best way for us to growand to develop a community, to
join you on your intentionalinvesting journey.
In the meantime, come hang outwith us on social media at On
Purpose Investor, or sign up forour next course, newsletter, or
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meetup at OnPurposeInvestor.
com.
But most importantly, go out,live your life, and do it On
Purpose.