The FASTEST Way to Stall Success
the FASTEST Way to Stall Success
What has been the most important lesson you’ve learned about working smarter, not harder?
My grandfather was a military man who had retired and owned 20 or 30 rental properties. For years, I told him I wanted to get into rental properties, but he would say, "Son, you can't make the money I do because you don't do the work." He had taught me from the time I was about 12—my brother and I would go with him on Saturdays and afternoons to fix up rental properties. We learned all the trades.
But my grandfather told me early on, "You need to learn to work with your brain, not your hands. That's not for you." So he discouraged me for years from buying my first rental property.
As I educated myself, I realized that while I couldn’t make money the way he did, I could still make money without doing all the work. So I bought my first rental unit, and from there, I kept buying. I used his model of buying properties with cash—no financing, no banks. At that time, I had my real estate license, so I was still working my W-2 job, taking my commissions and rental income to buy the next property, letting it snowball.
I got up to about 35 units and made it through the 2008–09 crash, but my mindset hadn’t really changed. Then, about three years ago, I read Rich Dad Poor Dad. It’s a classic. That was when the light turned on for me. I was close to retirement and decided it was time. I started educating myself more, joined mastermind groups, and got around people who were thinking at a higher level. It was like a light bulb went off—"You don’t need this W-2. Why didn’t you do this 20 years ago?" In the last three years, I’ve accomplished more than I did in the previous 20.
How can systems and processes help investors make consistent, informed decisions?
We’ve really dialed in our buying criteria—what makes a deal and what doesn’t. You can get very technical with that, but we have a model that works for us. I’m probably more conservative than a lot of investors, and that comes from my background. I used to buy properties with all cash, and while we do deals differently now, I still maintain a conservative mindset to some extent.
I made it through the 2007–2009 crash without losing anything, which many people did due to over-leveraging. We avoid that by keeping our leverage at a level we’re comfortable with. Every deal we evaluate goes through a systemized process, making it easy to teach. My son uses the exact same process: he plugs in the details, and it’s either a deal or it’s not.
You can learn these processes from others, pay for them, or figure them out on your own through trial and error or online resources. Our processes have worked well so far, and we’re always tweaking them.
If you had only one hour, how would you run your business?
If I only had one hour, I would focus on improving myself. Since I’m the central point of the business, I would concentrate on what I can do better to help my business, support my team, and get out of the way when needed. My priority would be personal development.
What is the importance of continuous learning and adapting in business?
I believe my limited mindset and getting too comfortable with what I was doing held me back. I didn't take the time to learn new techniques. When I first started flipping houses, this was before the 2007-2009 financial crisis. Banks were giving out money easily, so I didn’t need to learn how to create capital or explore creative financing options like seller financing. I was essentially a one-trick pony—no subject-to-deals or anything else.
My biggest downfall was that I stuck to a model that worked and didn’t try to expand my knowledge. Had I pursued education back then instead of waiting until now, I can only imagine how much further along I’d be. The importance of education is clear, even though most of us didn’t enjoy school—I certainly didn’t. But as I’ve gotten older, learning has become a habit. I now aim to learn something new every day, and I realize that not having that mindset earlier was a big mistake.
What would you do if you lost everything?
If I had to start over with everything, I could rebuild in 24 months. I've thought about this before because people often ask, "If you lost everything today, how long would it take to build it back?" The answer is that it would be much easier now because we've been through it already. We have a blueprint—a clear map of what to do and what not to do.
The first step would be to plug into a mastermind group. That’s a roadmap in itself. When I think about all the moving parts in my world—franchises, real estate companies, income, debts, deals—it feels overwhelming. But if it all went away, my answer would still be the same: I'd take a moment to reflect, join a mastermind group, and get started again.
What are the benefits of joining a mastermind group?
Joining a mastermind has been a game-changer for me. That's where everything really took off. I started by educating myself with some books, even though I’ve always hated reading. Now, I love it and make it a routine to read two or three chapters a day. Continuous learning is essential, but the mastermind group is where you can really gain leverage.
Investing in yourself through a mastermind is crucial. It’s not just about the knowledge—you also gain valuable relationships. The first mastermind I attended was transformative. The organizer and I became good friends, and we’re now partnering on some projects. After that first meeting, I closed two deals on the hour-long ride home and made $40,000, just from the information I learned.
The second mastermind I joined, which is larger and I’ve been a part of for a couple of years, has brought even more success. I’ve made a significant amount of money through partnerships and leveraging those relationships. Now, I can pick up the phone and get anything I need in the business world. Joining a mastermind is something every entrepreneur should consider.
*This interview has been edited and condensed for clarity.*
