March 10, 2025 • 33 mins
CJ Ledy shares his journey from growing up in a real estate household to building a successful investment portfolio including RV parks across multiple states.
• Started selling real estate at 18 years old after seeing it as a path to freedom and financial independence
• Has completed over $100 million in real estate transactions
• Currently owns and operates a 60-space RV park in Utah purchased in August
• Identifies mindset as the biggest challenge in real estate investing
• Wrote "Tune your Mind" about overcoming limiting beliefs and achieving goals
• Uses five tenets to maintain focus: purpose, clarity, momentum, ease, and necessity
• Believes real estate markets are moving into a more favorable investment climate
• Recommends consistency as the key habit for success in real estate
• Suggests new investors start by clearly defining their long-term goals
• Working toward building a $100 million portfolio by age 50 through strategic, incremental steps
• Recommends resources by Gary Keller and Grant Cardone for both real estate knowledge and mindset training
Here are CJ Ledy resource links:
Resources:
- Book: Tune Your Mind (CLICK FOR AMAZON LINK)
- AudioBook: Tune Your Mind - Finding Follow Through and Fulfillment in the Dawn of Distraction and Disruption
- Website: CJLedy.com
- Instagram: Mindset Is Art
- Speech: LIVIN Festival Keynote (Mental Health Awareness)
Free Giveaways:
- Tune Your Mind Worksheets
- 2025 Goal Tracking Document for Goal Check-ins
- Is Your Mind in Tune? State of Mind Sound Check
- FREE E-Book GIVEAWAY if you complete the State of Mind Sound Check!
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Episode Transcript
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Speaker 1 (00:01):
I want to welcome everybody to the Professionals
Real Estate Investing Podcast.
I'm with CJ Liddy.
How you doing, cj?
I'm great Thanks for having me,tony.
No problem, we finally gottogether and everything.
So I want to tell a little bitabout the world about you, just
for a quick thing, quick minute.
This is CJ.
He's done over $100 million intotal sales and real estate.
(00:23):
He's got his own podcast calledthe Mindset.
The Mindset is our podcast.
Wow, I mean you even had yourown book.
That's even great right theretoo.
So tell the world about you.
How'd you get started in realestate?
Speaker 2 (00:37):
Yeah, I appreciate it , tony.
I actually grew up in a realestate household so I was
fortunate that from an early ageI kind of saw what went into it
.
My grandparents were realestate agents and invested in
some single family stuff and mydad owned a few buildings, more
industrial manufacturing, and mymom's a big real estate agent
(01:01):
as well.
So kind of growing up I alwayshad an eye on real estate a
little bit and when I was incollege I was kind of starting
to think about what path that Iwant to take for my life and I
was thinking a lot about thelifestyle that I wanted to lead
and the flexibility I wanted tohave and income and all that
kind of stuff.
And the more I thought about it, the more I realized that being
a real estate investor was kindof the ticket to having the
(01:23):
freedom, having the income,having the lifestyle that I
really felt like I was lookingfor.
So you know, in college Idecided I was going to go out
and get my real estate license.
I started selling some homes.
I was about 18 years old, whichis about 15 years ago now 33.
(01:45):
I went to college in Denver butmoved back to Minnesota, which
was where the family had thelittle bit of roots selling some
real estate and sold a bunch ofhomes there, started picking up
some single family properties,doing some flips and things like
that.
And then about six years ago Imoved out to California and
started selling commercial realestate.
I was new to it.
I said if I want to be a realestate investor I should
understand the commercial realestate side.
(02:06):
I mean, that's really where youyou got to.
You know all those deals, yougot to understand the
underwriting, got to understandprofit and loss statements and
you got to really look at itthrough an investor eye which is
a little bit different thanwhat you'll experience in the
residential real estate salesworld, where it's a lot more
based on comparative marketanalysis world, where it's a lot
(02:28):
more based on comparativemarket analysis and you're
dealing with a more emotionalseller and buyer base based on
where somebody wants to raisetheir family and that kind of
thing, versus when you're buyingand selling with property
owners, the primary focus is theinvestment from the income and
expense standpoint and what thereal return on investment is.
So I started doing that for awhile and then since then I've
(02:50):
invested in an RV park out inCalifornia and then I just
bought another one here in Utah,which is where I'm at right now
.
I own and operate a 60 spacepark here that I bought in
August, which has been goingreally well.
It's a fun spot, and I've got ahandful of other investments
too.
I was partnering in an apartmentbuilding and I still have some
of those single family rentalsand a couple of other little
(03:14):
things, but that's kind of thegist, yeah.
Speaker 1 (03:16):
Well, that's a huge portfolio right there, and then
you have it in different Statesalso.
That's huge right there.
What would be with withnavigating with all of that?
What would be the biggestchallenge that you've
experienced with acquiring withreal estate?
Speaker 2 (03:35):
Biggest challenge.
Well, you know there's ahandful of obstacles that
everybody's got to overcome.
It's, you know, getting theright capital in place, finding
the right deals.
You know all the basics, but Iwould say that the biggest
challenge that I face, and Ithink that everyone faces,
starts right upstairs, it's inthe mind.
I think that there's plenty ofblueprints out there on how to
(03:59):
become a real estate agent orinvestor and it's not rocket
science.
Right, raise enough capital,find the right deal, make sure
that it cash flows, manage theproperty.
You know there's it's notoverly complicated, but there,
you know, are plenty ofroadblocks that your mind can
put up and ways that the mindcan can keep you from from doing
(04:19):
what you know you should totake care of your family down
the road and to invest in allthe things that we all know.
But there's a lot of limitingbeliefs that can come up and a
lot of navigating of your ownmental space that needs to be
done.
And so the real estate has beenmy cash focus, the place that
(04:42):
I've made money.
But another big focus of mineis in coaching.
It's in mindset coaching and,like you said, I wrote a book.
It's called Tune your MindFinding Follow-Through and
Fulfillment in the Dawn ofDistraction and Disruption.
It's really about how to take agoal or an important dream in
your life and how to wire yourmind around its successful
completion, how to overcome yourlimiting beliefs, how to
(05:03):
understand why you're doing it,establish some clarity, momentum
, all the different pieces to it.
So I think that the biggestchallenge is really just keeping
your mind in the right place.
I'm 33 years old and when I wasin my earlier 30s, I was making
a couple of smaller investmentshere and there, but I had the
knowledge, I had the skill set,I had the access to capital.
(05:24):
Investments here and there, butI had the knowledge, I had the
skillset, I had the access tocapital.
I'd done over a hundred milliondollars in commercial and
residential deals.
I had everything that I needed,but I was hesitating because I
was scared.
Honestly, I was scared and I waslike I'm not old enough to do
this and I just had all theseexcuses.
And it wasn't until I reallyslowed down and looked at it and
just said you know what?
The only thing that's stoppingme now it's not knowledge, it's
(05:49):
not access to resources, it'sfear.
And you know, when I saw that,I kind of took it head on and
said let's, you know, let's dothis thing.
So I think a lot of people,it's fear that stops us more
than anything from you know,becoming successful anything.
But especially in real estate,you're taking on some risks and
so you got to, you know, be wise, but also, you know, move with
courage.
Speaker 1 (06:13):
That's true.
I'm glad because I'm a huge.
I'm gonna have to read, getyour book, because I'm a huge
person when it comes to mindset,because the way you shift your
mindset you got to and you haveto be around the right people
too, like where you want to beat in your part of life.
I've always thought of thatmind shift.
It plays a huge role in likeeverything that we do, like
especially with you in yourendeavors and real estate.
Investing, like that'scompletely.
(06:34):
That's.
That mind shift is completelyfrom a different, from a person
who works a nine to five job.
So this you're doing on yourown get gathering the capital,
studying the properties that youwant to acquire, make sure that
you're going to get enoughprofit, enough capital coming
out of the properties.
So I was a big.
I always had as a mindset, ahuge component in everything.
(06:57):
Like you say, anything that youdo in life, the mindset shift
is huge.
As to your endeavors and howfar you can go, mm, hmm,
absolutely.
So, yeah, I'm going todefinitely have to read your
book.
And so, when it comes to thewith real estate and everything
(07:17):
especially, this is one of mymain questions.
I've been asking a lot latelysince it's been the change of
the guard and everything.
How do you think right now,forecasting wise into the future
?
How do you think in the realestate investing sector, how do
you think it's going to be, withus having a new president?
Speaker 2 (07:39):
I think that we're moving into a more favorable
real estate investing marketthan we've seen historically.
But it's tough to say.
Everybody's angle is different,based on where you're at and
what you're looking for.
You don't ever want to reallythink of a market as a good
market and a good time to beinvesting or a bad market and a
(08:00):
bad time to be investing.
There's just differentopportunities at different times
.
We've experienced a highinterest rate market for the
last several years, the lastcouple of years, and that's
really shifted where the dollarshave moved and coming from the
commercial real estate side,previous to the interest rate
(08:20):
hike, we saw an interest ratesdip down, which puts more money
into the market.
It makes it easier for peopleto pay more money for properties
.
So we were seeing things sellfor crazy numbers that nobody
was offering a handful of yearsprior.
Stuff was just flying off theshelves.
As far as my specialty is in RVparks, mobile home parks and
(08:41):
self-storage facilities, but Ikeep a close eye on multifamily
and even just single-familyresidences that turn into
rentals and things like that,and it was record sales, record
sales prices.
Everything was going for crazynumbers.
You'd come to a seller andyou'd go yeah, here's $10
million for the property thatthey thought was $6 million, and
it was a couple of years priorbecause interest rates were so
(09:03):
low, we had really favorable taxincentives.
And then we saw things shift alittle bit in the last couple
years.
Obviously, interest rates rose,which put a lot of pressure on
some owners.
So this is why, you know, yeah,that was an easy time to to buy
, but you also had to competeagainst all these buyers that
had, you know, a lot of money intheir pockets and you had
sellers who were starting to geta little bit more excited about
(09:26):
the fact that their propertieswere worth more.
So you're having to pay higherand higher prices.
So, you know, just in the lastyear we've finally seen some,
you know prices come down alittle bit.
We've seen I mean, it was apart of why I was able to
purchase this property, you knowyou see some owners who had
adjustable rate mortgages andthey got stuck with high
interest rates on loans thatthey weren't expecting to have
(09:47):
to pay that much on.
That they took out in thethrees and fours and now they're
paying seven and eight, and sosome of those guys went upside
down and had to sell theirproperties.
So access to capital was alittle bit more limited, but you
also saw opportunities comearound.
So as we move into this nextphase, we are seeing interest
rates ease a little bit, 10-yeartreasuries coming down, and I
(10:12):
think that will likely continueto happen.
Obviously, there's no crystalball.
Anything could happeneconomically that can shift all
that in a moment.
But I do believe that we willsee, through the Trump
organization, more positiveincentives for investors,
probably increases in bonusdepreciation and ways to, you
know, really really takeadvantage of a lot of the tax
(10:32):
incentives and other things thatwill come down the line.
So I think that we will moveinto a more favorable investment
market as far as everybodyhaving access to capital.
But I do think that with that,like I said before, it's going
to increase sellers' desires toget higher prices and a handful
of other factors that can makeit a little bit more complicated
(10:53):
too.
Speaker 1 (10:55):
Yeah, I think too a lot of people.
They live in the past, whenCOVID was around in 2020.
So those interest rates whenpeople are getting I seen I seen
as low as one person he got ahome for 1.99, an interest rate
and I tell people that's nevergoing to happen again.
I said we had a worldwidepandemic that changed the global
(11:17):
scale completely of everything,how it's done, and I said that
was an opportunity for everybodyto buy and, like you said, the
competition was ferocious with,I mean, coming left and right.
You have so many bids and somany offers, they didn't know
what to do.
So, yeah, so that was the timeto bank on and I I'm with you
too and I've talked to a coupleother people about it I think,
(11:38):
like the interest rate may comedown a little bit more, but it's
not going to be not nothingdrastic like it was in 2020,
2021, but it's going to besubsided, like right there, and
it's still a good, it's still agreat market, like when our
parents, when they bought homes,I mean, they were looking at 15
, 16, 17% interest rates.
Speaker 2 (12:01):
Well, exactly, yeah, that's that's an important thing
to to be aware of that.
We probably won't see them gothat low again, and if we do, it
is the byproduct of anotherissue.
Economically, you know interestrates are a function of the Fed
trying to stabilize inflationand deflation, and so when you
(12:23):
see interest rates go that low,it's a byproduct of economic
instability and trying to keeppeople in the market.
So you're also going to becombating against difficult
external factors too.
So that's why I say there'snever I try not to look at the
market as ever a good time or abad time to invest.
There's always opportunitiesabout understanding where you
are, where you are currentlyeconomically, and making a wise
(12:46):
decision based on that.
Speaker 1 (12:48):
Yeah, me and you in the same accord, because I tell
people they always, they alwaysask me is it a good time or bad
time?
I say it's always a great time.
It's just you need to negotiatethe numbers.
What numbers are going tobenefit you and the other person
the right way, Exactly?
Speaker 2 (13:02):
Yeah, they also say too you hold on to anything for
10 years, you'll look like agenius as long as you can
cashflow and survive through theups and downs of the real
estate market, if you can holdon to stuff for a long enough
period.
You know the general trend isthat everything appreciates so
long as you don't buy a reallyyou know awful property in a bad
location.
That that degresses.
(13:23):
But you know, in general, ifyou can hold on to a decent
property in a decent locationfor long enough, you will.
You know you will come outahead.
Speaker 1 (13:32):
And that deals also, too, with your mindset, and it
deals with dedication and beingdetermined.
You got to put your foot downtoo, because there's going to be
trials and tribulations, butyou got to look at the bigger
picture, what the outcome couldbe.
Speaker 2 (13:44):
Totally, totally, and it's a long game.
You know it's a real estateinvesting.
I don't think it should belooked at as just I mean it's
been everybody's different but Ithink it should be looked at as
a long-term game.
You should always be in thegame, you should always be
looking at deals, you shouldalways be thinking through the
metrics of it all and beingready to act when the time is
right.
And sometimes you will havereally favorable opportunities
(14:05):
and sometimes it'll just betougher deals that you try to
pull together.
But as long as you keep yourhead in the game, you'll
continue to hit singles anddoubles and eventually, every
once in a while, you might hit ahome run.
But you know, as long as you'reyou're staying at the in the
batter's box, you know you got achance to get some good deals.
Speaker 1 (14:24):
Great, they're very true, very true.
What habits, habits or routineshas helped you succeed in real
estate investing?
Speaker 2 (14:32):
I would say it's consistency over anything else.
I would say it's consistencyover anything else.
It's showing up on a dailybasis and knocking down whatever
tasks stand in front of youFrom a real estate agent
standpoint.
It's phone calls, it's emails,it's knocking doors or driving
properties and all that kind ofstuff.
It really is a numbers game ina lot of ways.
(14:53):
As a real estate investor, it'sa little bit more of networking
, researching the rightproperties, doing your homework,
being ready, making sure you'vegot your capital in place, all
those types of things.
So there's a little bitdifferent fundamentals that
consist of the different hatsthat you wear.
But from a personal habitstandpoint, it's more for me
(15:17):
about keeping my mindsetstraight.
So the five tenets in my bookthat you wrap around any goal
one is the purpose behind it.
So why are you doing it?
So I'll try to think throughall these things before I sit
down to work.
It takes 30 seconds or whateverit is.
Why am I doing what I'm doing?
What am I going to do?
That's the clarity.
So I've got a couple oflong-term goals and a few
(15:38):
shorter strategy goals to getthere, and so I'll just think
real quick okay, where am Igoing?
What steps am I going to taketo get there?
And then the momentum piece.
So the action how much actionare you going to put in that day
?
Maybe you sit down and you go.
You know what I need to log sixhours today, I need to do 15
emails and you do X Y Z.
That's the action piece.
Then the ease is the empoweringbeliefs.
(15:59):
What kind of beliefs areempowering you and are there any
limiting beliefs that you mightneed to kind of navigate around
?
But refreshing yourself of, hey, you know, especially at this
point it's like, okay, you'vedone a couple of deals like this
.
You know you've, you've helpedsome people in these areas, x, y
Z.
You know you kind of remindyourself some empowering beliefs
.
And then the final is necessity.
So why is what you're doing anecessity, not just kind of a
(16:20):
desire, not a hope, butsomething that needs to happen
for your life?
You know what are the benefitsof you following through on
these goals versus theconsequences of you being a
little lazy today and fallingshort?
You know who in your life thatyou care about is affected by
these things.
How has your wealth affected inthe longterm?
You know what opportunitiesdoes this give you in your
health and your hobbies andeverything else, if you can
(16:40):
really crush it today, in thisweek and this year.
So I try to refresh myself onthose five things the purpose,
the clarity, momentum, the easeand the necessity, and that kind
of just keeps me, keeps megoing.
Some days I wake up and my man,I don't want to do anything
today, but you know you got tospend a few minutes and just
(17:02):
dust off.
You know the parts of yourbrain that go oh yeah, this is
important and I do want to dothis, I do enjoy this, but you
know the mind can get in the wayof that.
Speaker 1 (17:07):
Very true, very true.
And I like to say it'sconsistency, like as long as you
stay consistent at it.
Because, yeah, like you said,there will be days where you
wake up.
You're just like you don't wantto do nothing, you don't want
to do nothing at all, but yougot to push yourself.
Don't over push yourself, butpush yourself enough where you
know, get on your, on your 10toes and keep on going and
pushing.
Oh it's, yeah, show up is always, and I was thinking too, also
(17:32):
with a person listening to theshow and they've seen that
you've acquired all this thereal estate, especially in
different states, and everything.
What would, how, what would bea way for them to get into real
estate, what, as I should put it, what, what way For them to
(17:52):
break that hurdle?
So, basically, what I mean bythat is I know a lot of people
who want to get in real estateinvesting but they don't even
know where to start.
Like, they don't even knowwhere to start.
Start one at.
What would you think from, like, from your journey, what would
be the best way for somebody toget into real estate investing?
It doesn't matter so much likemultifamily or RV or if they had
(18:12):
a whole bunch of homes, butwhat would be a way for them to
get into real estate investing?
Speaker 2 (18:19):
Yeah, great question, you know.
I think that it starts withunderstanding what your goal is
in real estate investing.
You know, for some people, thatmight be to own one single
family house that they rent andthat's you know that's their
goal and they're happy with thatbeing their portfolio.
Some people it's it's amultifamily building of 30 plus
units, or for some people it's$100 million portfolio.
(18:41):
It's what is your goal and Ithink, based on your goal, it
sets up the strategy that youshould take to go after that.
So my goal is a big portfolio,and so I have taken the approach
that, in order to manage,invest in and cashflow a large
portfolio of a handful ofdifferent investment types and
(19:02):
properties, I need to know whatthe heck I'm doing.
Really well, because I'm goingto put myself out there.
I'm going to take on a prettysubstantial amount of debt in
order to do it, and I want to doit right.
So for me, it's been spendingas much time as possible
learning the ropes.
So I was selling residentialreal estate for a while,
commercial real estate for awhile, meeting all these guys,
(19:23):
learning as much as I could,studying the underwriting,
studying economics, learning asmuch as I could to take that on
Now.
If your goal is to say, own aduplex where you're going to
live in one side and rent outthe other and maybe you'll add
one or two more down the road,you don't need to take as as
aggressive of an approach to youknow, commit 30 to 40 to 50
(19:44):
hours a week learning to getyourself in position to go out
and do the right things.
You know you may just be ableto hey say you know, listen to
what, listen to podcasts likethis, go on YouTube, look all
this stuff up, do your homeworkon on where to invest in your
neighborhood and X, y, z, andstart searching the MLS and
searching Zillow foropportunities and start to
(20:06):
really think through the numberson on a duplex or whatever it
is, and and you know that couldbe enough to go out and make a
good investment for a duplex.
So I really think that it'smore about what your long-term
goal is.
That can set you up on the pathfor how you want to strategize.
If you have big dreams of owninga lot of real estate, I think
you got to commit yourself.
(20:26):
You really got to spend atleast five years learning the
industry and maybe that's takingon a job where you work in
financing for real estate dealsas a lender or whatever, or you
go be a real estate agent ortake on some job where you can
earn money in the process oflearning how to go out and be an
investor.
So it just depends on yourlong-term goals.
(20:48):
As far as the strategy that Ithink you need to take, if you
already have another great joband you just have some extra
money that you want to invest,pick up some good books about
real estate investing, go driveproperties, go look at open
houses, go start doing thenumbers and figure out how to
underwrite and if you can do soappropriately risk level for
what you can afford.
Jump in, buy something andstart managing it and start
(21:13):
small enough that you can takeoff a bite that you can chew and
swallow and, you know, continueto build from there.
Speaker 1 (21:20):
That's.
That is some great advice rightthere, cj, like everything that
you said it deals with because,even like with my journey, I
started my journey from with afriend.
I told him I was like I was injust in real estate in general.
He taught me and everything.
And then I had a mentor who'shelped me.
(21:40):
I still call him mentor to thisday, even though he's like Tony
.
We're great friends.
But, like you said, but you haveto study and you have to study,
you have to be dedicated to itand you're like you said, it's
your end goal.
Because everybody's goal isdifferent when it comes,
especially when it comes to this, like how much do you want to
make per month or per year?
How much capital do you need tobuild up?
(22:03):
How long?
And especially with commercialestate, like, there's always an
exit plan how long you want tohave the property?
You want to have it betweenthree to five years.
So there's all different typesof factors, but you got to take
it in increments, a little bitesize, as I say, because it's so
(22:23):
vast, it's so large when itcomes to real estate investing
in itself, totally yeah.
So if you could go back in timeand give your younger self.
One piece of advice in realestate.
What would it be?
Speaker 2 (22:36):
You know I I've listened to a lot of podcasts.
I hear a lot of guys kind ofget a similar question.
A lot of times the answer isbuy more sooner.
You know, I wish that I wouldhave bought, I wish I would have
started buying real estatesooner and, and I like that.
But also, you know I I believethat it really, like I said
(22:58):
earlier, it comes down more tothe fear around what you're up
to.
I think that you do want toobviously buy as early as you
can do, as early as you can doso wisely, right.
So I'm much more of theperspective that everything in
the right time, and that's why Italked about setting a farther
(23:21):
out goal, understanding whatyour vision is.
So for me, my goal is $100million portfolio by the time
I'm 50.
So I have that goal, thank you.
So I have that goal and I'vehad that for probably about 10
years now and I've kind ofincrementally broken down how
that looks, how much, how much,how big my portfolio needs to be
(23:42):
at each stage, the things thatI need to learn along the way to
get there.
And I'm not in a rush to reachthat.
I know that.
I definitely believe that Iwill be able to reach that, but
I'm not expecting that all tohappen in the next year, two
years, five years.
You know I've got a ramp upperiod that I need to go through
and this is the biggest realestate investment that I've made
(24:03):
is this RV park here, and I'mnot going to look at buying
anything.
I'm still going to stay in tunewith the market, but I'm not
going to look at buying anythinguntil I've gone through
probably at least one tax season, but ideally two.
I understand what it's reallylike to run this thing, what
it's really like to manage mystaff, what it's really like to
run this thing, what it's reallylike to manage my staff, what
(24:28):
it's really like to season a fewdifferent ups and downs with
our guests and things like that,before I'm going to go out and
try to replicate this thing.
And once I really understandthis block, then I'm going to
stack on top of it and I'm goingto scale and I'll do a bigger
property and I'll get that onefor a couple of years and at
that point I'll be in a positionto say, okay, now I can start
to scale a little bit morequickly.
I've got the understanding,I've got the team in place, from
all my accountants to mymanagers, to everybody that my
(24:48):
bookkeeping, all the people thatkeep the ship afloat which is a
lot of things that I'm stillkind of scrambling to say, okay,
oh, I didn't think about thisor I didn't.
I don't understand this piecefully yet, so I need to give
myself time to learn before I goout and try to scale faster
than what I'm ready for.
So I think that that comes backto the advice that I would
(25:08):
continue to give to myself and Ithink it's one that I've
followed but maybe be a littlebit more specific about it is
just to take each step wisely atthe right moment and to learn
as much as you can.
That is the key piece.
It's learning.
Once you learn as much as youneed to know in order to take
action, then erase the fear andstart to move.
(25:29):
I could have definitely starteda little bit sooner and I
probably I'm still on track, soI'm not upset about it.
That's my goal is just to stayon track with with my long-term
goal.
I don't want to rush myself,but I also don't want to let
fear stand in the way of takingthe necessary steps to get there
.
So that's the big piece.
To me, it's about learn as muchas you can at each individual
(25:50):
step and once you have maximizedthe amount of information that
you need to learn, you kind ofknow.
You get to a point where you'relike, okay, I've heard a lot of
the same stuff, you know.
I kind of think I know what Ineed to do, but I'm just not
really doing it.
That's where fear is startingto stand in the way.
Okay, figure out how to kickthat door down.
Work with a coach, you know.
Work with somebody.
Or figure, you know everybodyhas different ways of overcoming
(26:11):
fear.
Figure out what you need to doto kick through that door.
Go, take the next step, youknow, and then, once you're at
that next step, learn everythingthat you need to learn there.
Once you kind of maximize that,you know when you're going to
get in there and you know it'sright time to take the next step
, kick down that fear of door,that door of fear again, and
keep on moving.
Speaker 1 (26:28):
Yes, you're so correct.
There's actually a guy namedSean from Think Media on YouTube
, oh yeah, and that's one of hisfavorite.
That's one of his favoritesaying punch fear in the face,
and sometimes that's what youhave to do.
He's like you know what?
I'm just going to punch it inthe face and just go at it and
you, and, like you said, you'lllearn.
You'll learn, you'll just up,you just upgrade yourself.
(26:50):
You keep on learning throughtime.
So, with, with, with everythingthat you just said, which ties
in perfectly, what is some booksor podcasts or resources that a
person who's starting in realestate should they listen to or
read about?
Speaker 2 (27:05):
Yeah, again, it's a little nuanced based on your
specific focus.
I think.
Real Estate Agents, there'sreally good content by Gary
Keller, who started KellerWilliams.
He's got a handful of greatbooks.
I've really liked digesting thework of Grant Cardone.
He does, obviously, a mixtureof stuff, but a lot of his
(27:26):
YouTube videos are what got mestarted on understanding more of
commercial real estate before Ibecame an agent.
He's got a lot of good contenton how to underwrite deals and
how to get out and look at theright properties and stuff like
that.
I think those two guys' workare probably my highest that
(27:46):
I've followed, and also theyboth talk about mindset-oriented
stuff.
Gary Keller's book the One Thingis one of my favorite books of
all time.
You've got the 10X Rule byGrant Cardone, which are also
about.
It's about productivity, it'sabout motivation, it's about
taking action, and that is amassive component of the real
estate industry, whether it'sinvesting or being an agent,
(28:08):
whatever part that you're goingto involve yourself in as an
entrepreneur which is reallywhat you know being in the real
estate industry is it's aboutself-motivating, it's about
taking action.
It's about getting yourself tomove.
It's about self-motivating,it's about taking actions, about
getting yourself to move.
So, you know, I think that thoseare great resources because,
like we said, you know there'sthere, there are little little
nuances to understanding thereal estate world, but it's not
(28:30):
rocket science.
You know, a lot of it really ismore of you know, you, you
understand the basics and thentake action, start moving, find
the right opportunities, get outthere in the field.
So, um, I think those two,those two resources are really
good.
And obviously, you know if youlike my stuff, um, I've got my
book here.
Tune your mind, yes, and uh,mindset is art podcast.
(28:50):
Um, a lot of it's more.
That's more mindset andpsychology based to talk a
little bit about real estate.
But at the end of the day, it'sabout you know, lining up your
mind to go out and do the thingsthat you want to do.
Speaker 1 (29:02):
Yeah, I'm a huge Grant Cardone fan.
You're right when I said like Iactually listen to it, probably
every couple of weeks.
He has a book about motivationand I actually listen to that
all the time, no matter what I'mdoing.
So he plays a huge componentwith even with me getting into
real estate.
With my friend who told me he'slike you know anything about
Grant Cardone?
I was like no, and then Istarted watching videos.
(29:23):
I'm like Grant's the truth.
That's what I told him after Iwas watching all the videos.
They said he's the truth.
He said as long as thosenumbers are right, you're good
to go.
I mean, and there's otherfactors too, but that was one of
with getting properties.
So, what's the best way forpeople to reach you?
Cj.
Speaker 2 (29:44):
A handful of ways.
You can go to my website,cjledycom, and that has access
to a bunch of my other resourcesof my book which is on Amazon.
I also have an audio book onAudible.
You can find my podcast onSpotify and Apple Podcasts and
all the other places thatpodcasts are hosted.
You can email me at coach atcjleadycom.
(30:06):
I'd love to hear from anybodywho's whether it's in real
estate or just life in general,mindset stuff.
I love to chat with people.
I do work with agents andinvestors to provide coaching
one-on-one, so if anybody'sinterested in that, feel free to
reach out as well.
I'd say those are the mainchannels.
You can really find everythingthrough my website and get ahold
(30:28):
of me through there.
Love to chat with anybody who'sinterested.
Speaker 1 (30:33):
I'll make sure I put those in the notes, everybody.
This is CJ Leedy and he, like Isaid, he is the host of
mindsetset is is art podcastwhich I'm going to have to check
out, most definitely in hisbook Tune your mind.
So both of those right there.
I'll put everything in the shownotes for everybody.
Cj Liddy, it's an honor and apleasure having you on the
(30:54):
podcast.
I benefited a lot from thispodcast, all your knowledge and
information and everything.
Speaker 2 (31:03):
Absolutely, tony.
Thanks for having me.
It's been a pleasure, noproblem.
Speaker 1 (31:11):
Everybody.
Have a blessed day.
Subscribe.
Like the Professions RealEstate Investing Podcast, I'll
be putting content out all thetime, not just a couple days,
all the time, but I just want tothank everybody.
I want to thank you, cj, andeverybody.
Have a blessed day, thankseverybody.
I want to welcome everybody to the Professionals
Real Estate Investing Podcast.
I'm with CJ Liddy.
How you doing, cj?
I'm great Thanks for having me,tony.
No problem, we finally gottogether and everything.
So I want to tell a little bitabout the world about you, just
for a quick thing, quick minute.
This is CJ.
He's done over $100 million intotal sales and real estate.
(00:23):
He's got his own podcast calledthe Mindset.
The Mindset is our podcast.
Wow, I mean you even had yourown book.
That's even great right theretoo.
So tell the world about you.
How'd you get started in realestate?
Speaker 2 (00:37):
Yeah, I appreciate it , tony.
I actually grew up in a realestate household so I was
fortunate that from an early ageI kind of saw what went into it
.
My grandparents were realestate agents and invested in
some single family stuff and mydad owned a few buildings, more
industrial manufacturing, and mymom's a big real estate agent
(01:01):
as well.
So kind of growing up I alwayshad an eye on real estate a
little bit and when I was incollege I was kind of starting
to think about what path that Iwant to take for my life and I
was thinking a lot about thelifestyle that I wanted to lead
and the flexibility I wanted tohave and income and all that
kind of stuff.
And the more I thought about it, the more I realized that being
a real estate investor was kindof the ticket to having the
(01:23):
freedom, having the income,having the lifestyle that I
really felt like I was lookingfor.
So you know, in college Idecided I was going to go out
and get my real estate license.
I started selling some homes.
I was about 18 years old, whichis about 15 years ago now 33.
(01:45):
I went to college in Denver butmoved back to Minnesota, which
was where the family had thelittle bit of roots selling some
real estate and sold a bunch ofhomes there, started picking up
some single family properties,doing some flips and things like
that.
And then about six years ago Imoved out to California and
started selling commercial realestate.
I was new to it.
I said if I want to be a realestate investor I should
understand the commercial realestate side.
(02:06):
I mean, that's really where youyou got to.
You know all those deals, yougot to understand the
underwriting, got to understandprofit and loss statements and
you got to really look at itthrough an investor eye which is
a little bit different thanwhat you'll experience in the
residential real estate salesworld, where it's a lot more
based on comparative marketanalysis world, where it's a lot
(02:28):
more based on comparativemarket analysis and you're
dealing with a more emotionalseller and buyer base based on
where somebody wants to raisetheir family and that kind of
thing, versus when you're buyingand selling with property
owners, the primary focus is theinvestment from the income and
expense standpoint and what thereal return on investment is.
So I started doing that for awhile and then since then I've
(02:50):
invested in an RV park out inCalifornia and then I just
bought another one here in Utah,which is where I'm at right now
.
I own and operate a 60 spacepark here that I bought in
August, which has been goingreally well.
It's a fun spot, and I've got ahandful of other investments
too.
I was partnering in an apartmentbuilding and I still have some
of those single family rentalsand a couple of other little
(03:14):
things, but that's kind of thegist, yeah.
Speaker 1 (03:16):
Well, that's a huge portfolio right there, and then
you have it in different Statesalso.
That's huge right there.
What would be with withnavigating with all of that?
What would be the biggestchallenge that you've
experienced with acquiring withreal estate?
Speaker 2 (03:35):
Biggest challenge.
Well, you know there's ahandful of obstacles that
everybody's got to overcome.
It's, you know, getting theright capital in place, finding
the right deals.
You know all the basics, but Iwould say that the biggest
challenge that I face, and Ithink that everyone faces,
starts right upstairs, it's inthe mind.
I think that there's plenty ofblueprints out there on how to
(03:59):
become a real estate agent orinvestor and it's not rocket
science.
Right, raise enough capital,find the right deal, make sure
that it cash flows, manage theproperty.
You know there's it's notoverly complicated, but there,
you know, are plenty ofroadblocks that your mind can
put up and ways that the mindcan can keep you from from doing
(04:19):
what you know you should totake care of your family down
the road and to invest in allthe things that we all know.
But there's a lot of limitingbeliefs that can come up and a
lot of navigating of your ownmental space that needs to be
done.
And so the real estate has beenmy cash focus, the place that
(04:42):
I've made money.
But another big focus of mineis in coaching.
It's in mindset coaching and,like you said, I wrote a book.
It's called Tune your MindFinding Follow-Through and
Fulfillment in the Dawn ofDistraction and Disruption.
It's really about how to take agoal or an important dream in
your life and how to wire yourmind around its successful
completion, how to overcome yourlimiting beliefs, how to
(05:03):
understand why you're doing it,establish some clarity, momentum
, all the different pieces to it.
So I think that the biggestchallenge is really just keeping
your mind in the right place.
I'm 33 years old and when I wasin my earlier 30s, I was making
a couple of smaller investmentshere and there, but I had the
knowledge, I had the skill set,I had the access to capital.
(05:24):
Investments here and there, butI had the knowledge, I had the
skillset, I had the access tocapital.
I'd done over a hundred milliondollars in commercial and
residential deals.
I had everything that I needed,but I was hesitating because I
was scared.
Honestly, I was scared and I waslike I'm not old enough to do
this and I just had all theseexcuses.
And it wasn't until I reallyslowed down and looked at it and
just said you know what?
The only thing that's stoppingme now it's not knowledge, it's
(05:49):
not access to resources, it'sfear.
And you know, when I saw that,I kind of took it head on and
said let's, you know, let's dothis thing.
So I think a lot of people,it's fear that stops us more
than anything from you know,becoming successful anything.
But especially in real estate,you're taking on some risks and
so you got to, you know, be wise, but also, you know, move with
courage.
Speaker 1 (06:13):
That's true.
I'm glad because I'm a huge.
I'm gonna have to read, getyour book, because I'm a huge
person when it comes to mindset,because the way you shift your
mindset you got to and you haveto be around the right people
too, like where you want to beat in your part of life.
I've always thought of thatmind shift.
It plays a huge role in likeeverything that we do, like
especially with you in yourendeavors and real estate.
Investing, like that'scompletely.
(06:34):
That's.
That mind shift is completelyfrom a different, from a person
who works a nine to five job.
So this you're doing on yourown get gathering the capital,
studying the properties that youwant to acquire, make sure that
you're going to get enoughprofit, enough capital coming
out of the properties.
So I was a big.
I always had as a mindset, ahuge component in everything.
(06:57):
Like you say, anything that youdo in life, the mindset shift
is huge.
As to your endeavors and howfar you can go, mm, hmm,
absolutely.
So, yeah, I'm going todefinitely have to read your
book.
And so, when it comes to thewith real estate and everything
(07:17):
especially, this is one of mymain questions.
I've been asking a lot latelysince it's been the change of
the guard and everything.
How do you think right now,forecasting wise into the future
?
How do you think in the realestate investing sector, how do
you think it's going to be, withus having a new president?
Speaker 2 (07:39):
I think that we're moving into a more favorable
real estate investing marketthan we've seen historically.
But it's tough to say.
Everybody's angle is different,based on where you're at and
what you're looking for.
You don't ever want to reallythink of a market as a good
market and a good time to beinvesting or a bad market and a
(08:00):
bad time to be investing.
There's just differentopportunities at different times
.
We've experienced a highinterest rate market for the
last several years, the lastcouple of years, and that's
really shifted where the dollarshave moved and coming from the
commercial real estate side,previous to the interest rate
(08:20):
hike, we saw an interest ratesdip down, which puts more money
into the market.
It makes it easier for peopleto pay more money for properties
.
So we were seeing things sellfor crazy numbers that nobody
was offering a handful of yearsprior.
Stuff was just flying off theshelves.
As far as my specialty is in RVparks, mobile home parks and
(08:41):
self-storage facilities, but Ikeep a close eye on multifamily
and even just single-familyresidences that turn into
rentals and things like that,and it was record sales, record
sales prices.
Everything was going for crazynumbers.
You'd come to a seller andyou'd go yeah, here's $10
million for the property thatthey thought was $6 million, and
it was a couple of years priorbecause interest rates were so
(09:03):
low, we had really favorable taxincentives.
And then we saw things shift alittle bit in the last couple
years.
Obviously, interest rates rose,which put a lot of pressure on
some owners.
So this is why, you know, yeah,that was an easy time to to buy
, but you also had to competeagainst all these buyers that
had, you know, a lot of money intheir pockets and you had
sellers who were starting to geta little bit more excited about
(09:26):
the fact that their propertieswere worth more.
So you're having to pay higherand higher prices.
So, you know, just in the lastyear we've finally seen some,
you know prices come down alittle bit.
We've seen I mean, it was apart of why I was able to
purchase this property, you knowyou see some owners who had
adjustable rate mortgages andthey got stuck with high
interest rates on loans thatthey weren't expecting to have
(09:47):
to pay that much on.
That they took out in thethrees and fours and now they're
paying seven and eight, and sosome of those guys went upside
down and had to sell theirproperties.
So access to capital was alittle bit more limited, but you
also saw opportunities comearound.
So as we move into this nextphase, we are seeing interest
rates ease a little bit, 10-yeartreasuries coming down, and I
(10:12):
think that will likely continueto happen.
Obviously, there's no crystalball.
Anything could happeneconomically that can shift all
that in a moment.
But I do believe that we willsee, through the Trump
organization, more positiveincentives for investors,
probably increases in bonusdepreciation and ways to, you
know, really really takeadvantage of a lot of the tax
(10:32):
incentives and other things thatwill come down the line.
So I think that we will moveinto a more favorable investment
market as far as everybodyhaving access to capital.
But I do think that with that,like I said before, it's going
to increase sellers' desires toget higher prices and a handful
of other factors that can makeit a little bit more complicated
(10:53):
too.
Speaker 1 (10:55):
Yeah, I think too a lot of people.
They live in the past, whenCOVID was around in 2020.
So those interest rates whenpeople are getting I seen I seen
as low as one person he got ahome for 1.99, an interest rate
and I tell people that's nevergoing to happen again.
I said we had a worldwidepandemic that changed the global
(11:17):
scale completely of everything,how it's done, and I said that
was an opportunity for everybodyto buy and, like you said, the
competition was ferocious with,I mean, coming left and right.
You have so many bids and somany offers, they didn't know
what to do.
So, yeah, so that was the timeto bank on and I I'm with you
too and I've talked to a coupleother people about it I think,
(11:38):
like the interest rate may comedown a little bit more, but it's
not going to be not nothingdrastic like it was in 2020,
2021, but it's going to besubsided, like right there, and
it's still a good, it's still agreat market, like when our
parents, when they bought homes,I mean, they were looking at 15
, 16, 17% interest rates.
Speaker 2 (12:01):
Well, exactly, yeah, that's that's an important thing
to to be aware of that.
We probably won't see them gothat low again, and if we do, it
is the byproduct of anotherissue.
Economically, you know interestrates are a function of the Fed
trying to stabilize inflationand deflation, and so when you
(12:23):
see interest rates go that low,it's a byproduct of economic
instability and trying to keeppeople in the market.
So you're also going to becombating against difficult
external factors too.
So that's why I say there'snever I try not to look at the
market as ever a good time or abad time to invest.
There's always opportunitiesabout understanding where you
are, where you are currentlyeconomically, and making a wise
(12:46):
decision based on that.
Speaker 1 (12:48):
Yeah, me and you in the same accord, because I tell
people they always, they alwaysask me is it a good time or bad
time?
I say it's always a great time.
It's just you need to negotiatethe numbers.
What numbers are going tobenefit you and the other person
the right way, Exactly?
Speaker 2 (13:02):
Yeah, they also say too you hold on to anything for
10 years, you'll look like agenius as long as you can
cashflow and survive through theups and downs of the real
estate market, if you can holdon to stuff for a long enough
period.
You know the general trend isthat everything appreciates so
long as you don't buy a reallyyou know awful property in a bad
location.
That that degresses.
(13:23):
But you know, in general, ifyou can hold on to a decent
property in a decent locationfor long enough, you will.
You know you will come outahead.
Speaker 1 (13:32):
And that deals also, too, with your mindset, and it
deals with dedication and beingdetermined.
You got to put your foot downtoo, because there's going to be
trials and tribulations, butyou got to look at the bigger
picture, what the outcome couldbe.
Speaker 2 (13:44):
Totally, totally, and it's a long game.
You know it's a real estateinvesting.
I don't think it should belooked at as just I mean it's
been everybody's different but Ithink it should be looked at as
a long-term game.
You should always be in thegame, you should always be
looking at deals, you shouldalways be thinking through the
metrics of it all and beingready to act when the time is
right.
And sometimes you will havereally favorable opportunities
(14:05):
and sometimes it'll just betougher deals that you try to
pull together.
But as long as you keep yourhead in the game, you'll
continue to hit singles anddoubles and eventually, every
once in a while, you might hit ahome run.
But you know, as long as you'reyou're staying at the in the
batter's box, you know you got achance to get some good deals.
Speaker 1 (14:24):
Great, they're very true, very true.
What habits, habits or routineshas helped you succeed in real
estate investing?
Speaker 2 (14:32):
I would say it's consistency over anything else.
I would say it's consistencyover anything else.
It's showing up on a dailybasis and knocking down whatever
tasks stand in front of youFrom a real estate agent
standpoint.
It's phone calls, it's emails,it's knocking doors or driving
properties and all that kind ofstuff.
It really is a numbers game ina lot of ways.
(14:53):
As a real estate investor, it'sa little bit more of networking
, researching the rightproperties, doing your homework,
being ready, making sure you'vegot your capital in place, all
those types of things.
So there's a little bitdifferent fundamentals that
consist of the different hatsthat you wear.
But from a personal habitstandpoint, it's more for me
(15:17):
about keeping my mindsetstraight.
So the five tenets in my bookthat you wrap around any goal
one is the purpose behind it.
So why are you doing it?
So I'll try to think throughall these things before I sit
down to work.
It takes 30 seconds or whateverit is.
Why am I doing what I'm doing?
What am I going to do?
That's the clarity.
So I've got a couple oflong-term goals and a few
(15:38):
shorter strategy goals to getthere, and so I'll just think
real quick okay, where am Igoing?
What steps am I going to taketo get there?
And then the momentum piece.
So the action how much actionare you going to put in that day
?
Maybe you sit down and you go.
You know what I need to log sixhours today, I need to do 15
emails and you do X Y Z.
That's the action piece.
Then the ease is the empoweringbeliefs.
(15:59):
What kind of beliefs areempowering you and are there any
limiting beliefs that you mightneed to kind of navigate around
?
But refreshing yourself of, hey, you know, especially at this
point it's like, okay, you'vedone a couple of deals like this
.
You know you've, you've helpedsome people in these areas, x, y
Z.
You know you kind of remindyourself some empowering beliefs
.
And then the final is necessity.
So why is what you're doing anecessity, not just kind of a
(16:20):
desire, not a hope, butsomething that needs to happen
for your life?
You know what are the benefitsof you following through on
these goals versus theconsequences of you being a
little lazy today and fallingshort?
You know who in your life thatyou care about is affected by
these things.
How has your wealth affected inthe longterm?
You know what opportunitiesdoes this give you in your
health and your hobbies andeverything else, if you can
(16:40):
really crush it today, in thisweek and this year.
So I try to refresh myself onthose five things the purpose,
the clarity, momentum, the easeand the necessity, and that kind
of just keeps me, keeps megoing.
Some days I wake up and my man,I don't want to do anything
today, but you know you got tospend a few minutes and just
(17:02):
dust off.
You know the parts of yourbrain that go oh yeah, this is
important and I do want to dothis, I do enjoy this, but you
know the mind can get in the wayof that.
Speaker 1 (17:07):
Very true, very true.
And I like to say it'sconsistency, like as long as you
stay consistent at it.
Because, yeah, like you said,there will be days where you
wake up.
You're just like you don't wantto do nothing, you don't want
to do nothing at all, but yougot to push yourself.
Don't over push yourself, butpush yourself enough where you
know, get on your, on your 10toes and keep on going and
pushing.
Oh it's, yeah, show up is always, and I was thinking too, also
(17:32):
with a person listening to theshow and they've seen that
you've acquired all this thereal estate, especially in
different states, and everything.
What would, how, what would bea way for them to get into real
estate, what, as I should put it, what, what way For them to
(17:52):
break that hurdle?
So, basically, what I mean bythat is I know a lot of people
who want to get in real estateinvesting but they don't even
know where to start.
Like, they don't even knowwhere to start.
Start one at.
What would you think from, like, from your journey, what would
be the best way for somebody toget into real estate investing?
It doesn't matter so much likemultifamily or RV or if they had
(18:12):
a whole bunch of homes, butwhat would be a way for them to
get into real estate investing?
Speaker 2 (18:19):
Yeah, great question, you know.
I think that it starts withunderstanding what your goal is
in real estate investing.
You know, for some people, thatmight be to own one single
family house that they rent andthat's you know that's their
goal and they're happy with thatbeing their portfolio.
Some people it's it's amultifamily building of 30 plus
units, or for some people it's$100 million portfolio.
(18:41):
It's what is your goal and Ithink, based on your goal, it
sets up the strategy that youshould take to go after that.
So my goal is a big portfolio,and so I have taken the approach
that, in order to manage,invest in and cashflow a large
portfolio of a handful ofdifferent investment types and
(19:02):
properties, I need to know whatthe heck I'm doing.
Really well, because I'm goingto put myself out there.
I'm going to take on a prettysubstantial amount of debt in
order to do it, and I want to doit right.
So for me, it's been spendingas much time as possible
learning the ropes.
So I was selling residentialreal estate for a while,
commercial real estate for awhile, meeting all these guys,
(19:23):
learning as much as I could,studying the underwriting,
studying economics, learning asmuch as I could to take that on
Now.
If your goal is to say, own aduplex where you're going to
live in one side and rent outthe other and maybe you'll add
one or two more down the road,you don't need to take as as
aggressive of an approach to youknow, commit 30 to 40 to 50
(19:44):
hours a week learning to getyourself in position to go out
and do the right things.
You know you may just be ableto hey say you know, listen to
what, listen to podcasts likethis, go on YouTube, look all
this stuff up, do your homeworkon on where to invest in your
neighborhood and X, y, z, andstart searching the MLS and
searching Zillow foropportunities and start to
(20:06):
really think through the numberson on a duplex or whatever it
is, and and you know that couldbe enough to go out and make a
good investment for a duplex.
So I really think that it'smore about what your long-term
goal is.
That can set you up on the pathfor how you want to strategize.
If you have big dreams of owninga lot of real estate, I think
you got to commit yourself.
(20:26):
You really got to spend atleast five years learning the
industry and maybe that's takingon a job where you work in
financing for real estate dealsas a lender or whatever, or you
go be a real estate agent ortake on some job where you can
earn money in the process oflearning how to go out and be an
investor.
So it just depends on yourlong-term goals.
(20:48):
As far as the strategy that Ithink you need to take, if you
already have another great joband you just have some extra
money that you want to invest,pick up some good books about
real estate investing, go driveproperties, go look at open
houses, go start doing thenumbers and figure out how to
underwrite and if you can do soappropriately risk level for
what you can afford.
Jump in, buy something andstart managing it and start
(21:13):
small enough that you can takeoff a bite that you can chew and
swallow and, you know, continueto build from there.
Speaker 1 (21:20):
That's.
That is some great advice rightthere, cj, like everything that
you said it deals with because,even like with my journey, I
started my journey from with afriend.
I told him I was like I was injust in real estate in general.
He taught me and everything.
And then I had a mentor who'shelped me.
(21:40):
I still call him mentor to thisday, even though he's like Tony
.
We're great friends.
But, like you said, but you haveto study and you have to study,
you have to be dedicated to itand you're like you said, it's
your end goal.
Because everybody's goal isdifferent when it comes,
especially when it comes to this, like how much do you want to
make per month or per year?
How much capital do you need tobuild up?
(22:03):
How long?
And especially with commercialestate, like, there's always an
exit plan how long you want tohave the property?
You want to have it betweenthree to five years.
So there's all different typesof factors, but you got to take
it in increments, a little bitesize, as I say, because it's so
(22:23):
vast, it's so large when itcomes to real estate investing
in itself, totally yeah.
So if you could go back in timeand give your younger self.
One piece of advice in realestate.
What would it be?
Speaker 2 (22:36):
You know I I've listened to a lot of podcasts.
I hear a lot of guys kind ofget a similar question.
A lot of times the answer isbuy more sooner.
You know, I wish that I wouldhave bought, I wish I would have
started buying real estatesooner and, and I like that.
But also, you know I I believethat it really, like I said
(22:58):
earlier, it comes down more tothe fear around what you're up
to.
I think that you do want toobviously buy as early as you
can do, as early as you can doso wisely, right.
So I'm much more of theperspective that everything in
the right time, and that's why Italked about setting a farther
(23:21):
out goal, understanding whatyour vision is.
So for me, my goal is $100million portfolio by the time
I'm 50.
So I have that goal, thank you.
So I have that goal and I'vehad that for probably about 10
years now and I've kind ofincrementally broken down how
that looks, how much, how much,how big my portfolio needs to be
(23:42):
at each stage, the things thatI need to learn along the way to
get there.
And I'm not in a rush to reachthat.
I know that.
I definitely believe that Iwill be able to reach that, but
I'm not expecting that all tohappen in the next year, two
years, five years.
You know I've got a ramp upperiod that I need to go through
and this is the biggest realestate investment that I've made
(24:03):
is this RV park here, and I'mnot going to look at buying
anything.
I'm still going to stay in tunewith the market, but I'm not
going to look at buying anythinguntil I've gone through
probably at least one tax season, but ideally two.
I understand what it's reallylike to run this thing, what
it's really like to manage mystaff, what it's really like to
run this thing, what it's reallylike to manage my staff, what
(24:28):
it's really like to season a fewdifferent ups and downs with
our guests and things like that,before I'm going to go out and
try to replicate this thing.
And once I really understandthis block, then I'm going to
stack on top of it and I'm goingto scale and I'll do a bigger
property and I'll get that onefor a couple of years and at
that point I'll be in a positionto say, okay, now I can start
to scale a little bit morequickly.
I've got the understanding,I've got the team in place, from
all my accountants to mymanagers, to everybody that my
(24:48):
bookkeeping, all the people thatkeep the ship afloat which is a
lot of things that I'm stillkind of scrambling to say, okay,
oh, I didn't think about thisor I didn't.
I don't understand this piecefully yet, so I need to give
myself time to learn before I goout and try to scale faster
than what I'm ready for.
So I think that that comes backto the advice that I would
(25:08):
continue to give to myself and Ithink it's one that I've
followed but maybe be a littlebit more specific about it is
just to take each step wisely atthe right moment and to learn
as much as you can.
That is the key piece.
It's learning.
Once you learn as much as youneed to know in order to take
action, then erase the fear andstart to move.
(25:29):
I could have definitely starteda little bit sooner and I
probably I'm still on track, soI'm not upset about it.
That's my goal is just to stayon track with with my long-term
goal.
I don't want to rush myself,but I also don't want to let
fear stand in the way of takingthe necessary steps to get there
.
So that's the big piece.
To me, it's about learn as muchas you can at each individual
(25:50):
step and once you have maximizedthe amount of information that
you need to learn, you kind ofknow.
You get to a point where you'relike, okay, I've heard a lot of
the same stuff, you know.
I kind of think I know what Ineed to do, but I'm just not
really doing it.
That's where fear is startingto stand in the way.
Okay, figure out how to kickthat door down.
Work with a coach, you know.
Work with somebody.
Or figure, you know everybodyhas different ways of overcoming
(26:11):
fear.
Figure out what you need to doto kick through that door.
Go, take the next step, youknow, and then, once you're at
that next step, learn everythingthat you need to learn there.
Once you kind of maximize that,you know when you're going to
get in there and you know it'sright time to take the next step
, kick down that fear of door,that door of fear again, and
keep on moving.
Speaker 1 (26:28):
Yes, you're so correct.
There's actually a guy namedSean from Think Media on YouTube
, oh yeah, and that's one of hisfavorite.
That's one of his favoritesaying punch fear in the face,
and sometimes that's what youhave to do.
He's like you know what?
I'm just going to punch it inthe face and just go at it and
you, and, like you said, you'lllearn.
You'll learn, you'll just up,you just upgrade yourself.
(26:50):
You keep on learning throughtime.
So, with, with, with everythingthat you just said, which ties
in perfectly, what is some booksor podcasts or resources that a
person who's starting in realestate should they listen to or
read about?
Speaker 2 (27:05):
Yeah, again, it's a little nuanced based on your
specific focus.
I think.
Real Estate Agents, there'sreally good content by Gary
Keller, who started KellerWilliams.
He's got a handful of greatbooks.
I've really liked digesting thework of Grant Cardone.
He does, obviously, a mixtureof stuff, but a lot of his
(27:26):
YouTube videos are what got mestarted on understanding more of
commercial real estate before Ibecame an agent.
He's got a lot of good contenton how to underwrite deals and
how to get out and look at theright properties and stuff like
that.
I think those two guys' workare probably my highest that
(27:46):
I've followed, and also theyboth talk about mindset-oriented
stuff.
Gary Keller's book the One Thingis one of my favorite books of
all time.
You've got the 10X Rule byGrant Cardone, which are also
about.
It's about productivity, it'sabout motivation, it's about
taking action, and that is amassive component of the real
estate industry, whether it'sinvesting or being an agent,
(28:08):
whatever part that you're goingto involve yourself in as an
entrepreneur which is reallywhat you know being in the real
estate industry is it's aboutself-motivating, it's about
taking action.
It's about getting yourself tomove.
It's about self-motivating,it's about taking actions, about
getting yourself to move.
So, you know, I think that thoseare great resources because,
like we said, you know there'sthere, there are little little
nuances to understanding thereal estate world, but it's not
(28:30):
rocket science.
You know, a lot of it really ismore of you know, you, you
understand the basics and thentake action, start moving, find
the right opportunities, get outthere in the field.
So, um, I think those two,those two resources are really
good.
And obviously, you know if youlike my stuff, um, I've got my
book here.
Tune your mind, yes, and uh,mindset is art podcast.
(28:50):
Um, a lot of it's more.
That's more mindset andpsychology based to talk a
little bit about real estate.
But at the end of the day, it'sabout you know, lining up your
mind to go out and do the thingsthat you want to do.
Speaker 1 (29:02):
Yeah, I'm a huge Grant Cardone fan.
You're right when I said like Iactually listen to it, probably
every couple of weeks.
He has a book about motivationand I actually listen to that
all the time, no matter what I'mdoing.
So he plays a huge componentwith even with me getting into
real estate.
With my friend who told me he'slike you know anything about
Grant Cardone?
I was like no, and then Istarted watching videos.
(29:23):
I'm like Grant's the truth.
That's what I told him after Iwas watching all the videos.
They said he's the truth.
He said as long as thosenumbers are right, you're good
to go.
I mean, and there's otherfactors too, but that was one of
with getting properties.
So, what's the best way forpeople to reach you?
Cj.
Speaker 2 (29:44):
A handful of ways.
You can go to my website,cjledycom, and that has access
to a bunch of my other resourcesof my book which is on Amazon.
I also have an audio book onAudible.
You can find my podcast onSpotify and Apple Podcasts and
all the other places thatpodcasts are hosted.
You can email me at coach atcjleadycom.
(30:06):
I'd love to hear from anybodywho's whether it's in real
estate or just life in general,mindset stuff.
I love to chat with people.
I do work with agents andinvestors to provide coaching
one-on-one, so if anybody'sinterested in that, feel free to
reach out as well.
I'd say those are the mainchannels.
You can really find everythingthrough my website and get ahold
(30:28):
of me through there.
Love to chat with anybody who'sinterested.
Speaker 1 (30:33):
I'll make sure I put those in the notes, everybody.
This is CJ Leedy and he, like Isaid, he is the host of
mindsetset is is art podcastwhich I'm going to have to check
out, most definitely in hisbook Tune your mind.
So both of those right there.
I'll put everything in the shownotes for everybody.
Cj Liddy, it's an honor and apleasure having you on the
(30:54):
podcast.
I benefited a lot from thispodcast, all your knowledge and
information and everything.
Speaker 2 (31:03):
Absolutely, tony.
Thanks for having me.
It's been a pleasure, noproblem.
Speaker 1 (31:11):
Everybody.
Have a blessed day.
Subscribe.
Like the Professions RealEstate Investing Podcast, I'll
be putting content out all thetime, not just a couple days,
all the time, but I just want tothank everybody.
I want to thank you, cj, andeverybody.
Have a blessed day, thankseverybody.
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