Your Next 10 Million: Recent Episodes
Pasha & Cody
Your Next $10 Million is a community dedicated to folks who have already achieved well and are looking to achieve greatness. Our interviews and discussions focus on growing your family’s wealth and cash flow with investors across asset classes, but with a particular focus on housing and real estate. But there’s more to growing your wealth than capital allocation – well-rounded wealth also involves grabbing life by the horns, doing cool shit, growing a great family, and living a long, healthy life so we try to bring you a sprinkling of experts across those pillars.
Welcome to Road To 100
Join us as seasoned experts Cody Littlewood and Daniel Casey delve into the enduring strategies of generational wealth accumulation. In this episode, we unlock the secrets behind the success of the wealthiest families, highlighting the power of compounding and long-term property ownership. Discover parallels between Warren Buffett's investment philosophy and real estate, emphasizing the paramount importance of safeguarding your properties. Gain insights into the timeless principles that have shaped the world of wealth accumulation for over half a century. Don't miss this opportunity to enhance your real estate acumen and tap into strategies that stand the test of time.
Listen to the episodes here: https://linktr.ee/roadto100pod
Here are some power takeaways from today’s conversation:
- Principal-Agent Problem with Third Party Managers - Third Party or Vertically Integrate?
- The Buffett Blueprint: Real Estate Wisdom from the Oracle
- Protecting Your Fortunes: Safeguarding Properties for Long-Term Success
- Quality Matters: Navigating the Intersection of Product and Place
- Local Insights, Global Impact: Understanding Neighborhood Dynamics
In this episode, seasoned experts Cody Littlewood and Daniel Casey unravel the complexities of real estate, decoding recent market moves from Florida deals to property values. From the growing challenge of fraudulent rental applications to a proactive approach to tenant evaluation, we've got you covered. Join us for strategic insights on property management essentials and the core elements of property operations.
Don't miss out on practical tips to elevate your real estate game. Tune in for a knowledge-packed session where we navigate market shifts, tackle tenant evaluations, and explore the essence of property management. Let's stay ahead in the real estate game together!
Listen to the episodes here: https://linktr.ee/roadto100pod
Here are some power takeaways from today’s conversation:
- Decoding the Growing Challenge of Fraudulent Applications
- Proactive Strategies for Seamless Tenant Evaluation
- Essential Insights for Effective Property Management
- Aligning People, Processes, and Profits in Property Operations
- Key Takeaways for Real Estate Success
Welcome to this brand new episode of Road To 100!
Join us in this eye-opening episode where we explore the future landscape of real estate in 2024. Cody and Daniel, our Real Estate seasoned experts, dive deep into the intricacies of what lies ahead.
In this episode we decode the potential impact of the increasing unattainability of single-family homes on the rental scene. This forward-looking analysis could redefine your real estate strategy for the upcoming year. Stay tuned for valuable insights, practical tips, and a thought-provoking discussion that will guide you through the complexities of the real estate landscape in 2024.Don't miss the chance to stay ahead in the game and make informed decisions as we navigate the evolving market together.
Listen to the episodes here: https://linktr.ee/roadto100pod
Here are some power takeaways from today’s conversation:
- Future-Proof Your Investments: Key Takeaways from 2024 Real Estate Insights
- Strategic Moves: Unveiling Market Trends for Success in 2024
- Crack the Code: Navigating Real Estate in 2024 – Essential Takeaways
- Bitcoin to Real Estate: Powerful Insights for 2024 Success
- 2024 Economic Landscape: Power Takeaways for Smart Investors
Welcome to this brand new episode of Road To 100!We've got seasoned experts Cody Littlewood and Daniel Casey breaking down the nitty-gritty of predicting market shifts without going overboard. From checking out Florida deals to understanding property values, we're decoding recent market moves. We'll also chat about the tricky parts of making deals during economic ups and downs, covering everything from insurance to taxes. Don't miss this chance to boost your real estate know-how and stay on top of the game. Tune in for an easy-to-follow chat full of practical tips on handling uncertainty and making the most of opportunities.Here are some power takeaways from today’s conversation:- Insider Secrets: Navigating the Ever-Changing Real Estate Market- Strategic Wisdom: Maximize Returns in Uncertain Real Estate- Market Mastery: Key Takeaways for Real Estate Success - Pro Tips: Seizing Opportunities in Dynamic Real Estate Deals- Real Estate Resilience: Essential Takeaways for Investors
Welcome to this brand new episode of Road To 100!
Embarking on the journey of entrepreneurship is often a rollercoaster ride filled with highs, lows, and unexpected twists.
In this exclusive episode, we delve into the inspiring story of Daniel Casey, an entrepreneur who not only weathered the storm of a failed venture but emerged stronger and more successful in the realm of multi-family real estate.
Listen to the episodes here: https://linktr.ee/roadto100pod
Welcome to a captivating episode of Road to 100, where we dive into the remarkable journey of Mike De Haan, a former Boeing engineer who turned into a real estate tycoon. Mike's story is a testament to the power of taking a leap of faith and forging your own path to success. In this episode, Mike shares his inspiring journey, from quitting his secure W2 job without a clear plan to building a thriving real estate business and creating a nationwide wholesaling partnership program.Join us as Mike discusses the challenges he faced, the mindset shifts that paved his way, and the surprising insights he gained during his time at Boeing. He even sheds light on the meticulous quality control standards within the aviation industry. From engineering precision to real estate mastery, this episode is a rollercoaster of fascinating stories and experiences.Here are some power takeaways from today’s conversation:- Diverse Backgrounds: The guest, Mike Duhan, had a background as an engineer but made a significant career change. This highlights that success can come from diverse backgrounds and not just following a traditional career path.- Leaving Without a Plan: Mike quit his W2 job even without a clear plan. This shows the importance of taking risks and believing in your ability to figure things out when pursuing your passion.- Resilience and Adaptability: The discussion about issues in the aviation industry and quality control highlights the importance of resilience and adaptability in both work and life. Problems will arise, but it's crucial to find solutions and move forward.- Learning from Experience: Mike's experience as an engineer and pilot offers insights into the aviation industry, emphasizing the importance of continuous learning and improvement in any field.- Precision and Quality: The discussion about drilling holes by hand with a tolerance of just half an inch in the aviation industry underscores the significance of precision and quality in manufacturing and other industries.Episode Highlights:00:00 - 01:21 - Intro01:21 - 08:28 - From Boeing Engineer to Real Estate Success08:28 - 13:13 - First steps on Entrepreneurship13:13 - 17:39 - Real Estate Ventures and Entrepreneurial Triumphs17:39 - 24:55 - Cracking the Code: How to Find Discounted Real Estate Deals24:55 - 33:35 - Navigating the Complex World of Real Estate Investing33:35 - 37:38 - From Single-Family Homes to Institutional Ownership37:38 - 41:33 - The Unspoken Issue in Real Estate: Shrinking Living Spaces41:33 - 47:29 - The Future of Housing: Challenges and Solutions
Welcome to a journey through the world of Ketamine therapy for depression. In this podcast episode, we invite you to embark on a profound exploration of the science, experiences, and personal stories that illuminate the potential of Ketamine therapy as a groundbreaking approach to mental health.
Depression, often shrouded in stigma and misconceptions, affects millions worldwide. While traditional treatments have their place, there's a growing understanding that innovative approaches are needed to address the complexity of this condition. In this series, we delve deep into the science, experiences, and human stories that make Ketamine therapy a beacon of hope in the realm of mental health.
Our goal is to uncover the mysteries behind Ketamine therapy, unveil its science, and reveal the powerful transformations it can inspire. From understanding the phases of the Ketamine experience to exploring its unique impact on neuroplasticity, this series is a comprehensive guide to a groundbreaking therapeutic modality.
Here are some power takeaways from today’s conversation:
- Understanding depression as a "parking brake" scenario helps visualize how traditional antidepressants may not work effectively.
- During the trance phase, individuals may notice previously overlooked details in their environment.
- The transformation phase is where the real change happens, as the brain forms new connections and disrupts negative thinking patterns.
- It combines the biological side (receptor attachment, increased excitation) and experiential side (breaking out of normal thinking patterns) for therapeutic benefit.
- Embracing your calling and purpose can lead to a fulfilling journey, even when it defies conventional expectations.
- Representation matters. Overcoming the stereotype of being the first black physician from a small town was a significant personal journey.
Episode Highlights:
00:00 - 09:45 - From Accidental Doctor to Psychedelic Pioneer: Dr. Don's Journey
09:45 - 18:05 - Ketamine Therapy and Its Transformative Power
18:05 - 23:35 - Shifting Perspectives from Misconceptions to Healing Potential
23:35 - 34:43 - Exploring the Transformative Power of Mind
34:43 - 44:12 - Ketamine Therapy and Entrepreneurship
44:12 - 50:35 - Innovation and Healing
Welcome to Road To 100 Pod, where we explore inspiring stories and insightful discussions. We invite you to join us as we delve deep into the life and experiences of Jeremiah, a man who has faced and conquered the darkest of challenges and emerged as a symbol of resilience, hope, and transformation. This episode is a testament to the power of human strength, determination, and the relentless pursuit of a better life.
Jeremiah's story is a powerful reminder that no matter how difficult the circumstances, recovery and self-discovery are not just possible but can lead to a life beyond one's wildest dreams. From addiction to recovery, from personal struggles to helping others, Jeremiah's journey is nothing short of remarkable.
But before we begin, don't forget to hit that subscribe button, give this video a thumbs up, and share it with your friends who might benefit from Jeremiah's inspiring journey. Now, without further ado, let's dive into this captivating conversation with Jeremiah.
Here are some power takeaways from today’s conversation:
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The Power of Self-Identification: Jeremiah's journey teaches us that we can redefine our identity and purpose in life. He shifted from seeing himself as an addict to identifying as someone in continuous recovery, highlighting the importance of how we view ourselves.
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Mentors and Coaches: Seek guidance and support from mentors and coaches. Jeremiah's success was greatly influenced by the mentors and coaches who helped him navigate his transformational journey.
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Beyond Profit: Discover a purpose that goes beyond profit. Jeremiah's main business is driven by a higher purpose, emphasizing the importance of aligning your work with your values and making a positive impact.
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Human Development: Understand that, ultimately, we are all in the business of human development. Whether you're in recovery or striving for personal growth, the human experience and helping others should be at the forefront of your journey.
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Courage to Change: Embrace the hero's journey and have the courage to change. Jeremiah's story reminds us that transformation often requires facing our inner struggles and making bold changes.
Daniel Del Real, a successful entrepreneur in real estate in California, shares his story and valuable perspectives on the path to success. From his beginnings at the age of 19 in the world of real estate to his career in the United States Air Force, Daniel has led an inspiring life focused on personal and professional growth.
One of the central ideas that Daniel emphasizes is the importance of having a clear and well-defined vision. For him, freedom of choice is crucial, but he emphasizes choosing wisely and saying "no" to anything that doesn't align with his goals. This mindset has allowed him to efficiently and productively manage multiple businesses, paving the way for his goal of reaching $100 million.
Throughout the conversation, the topic of confronting fear and making necessary sacrifices to achieve success is explored. Daniel shares that fear is a price to pay on the path to progress and personal growth. Similar to his experience in the Air Force, he learned to face challenging situations and maintain focus to achieve long-term objectives.
Another highlighted aspect of the conversation is the importance of personal relationships and the support of one's partner in the process of growth. Daniel mentions how his wife has been a key figure in his life, supporting him in his ventures and managing the household to help them both reach their goals. Effective communication and mutual understanding have been fundamental to Daniel and his wife's progress as a team.
Focus and discipline are essential pillars emphasized in the conversation. Daniel shares how his experience in the Air Force taught him to stay focused even in high-risk situations. This skill has translated into his entrepreneurial career, where he knows how to prioritize and concentrate on what truly matters to advance towards his objectives.
Here are some power takeaways from today’s conversation:
- The power of having a clear and well-defined vision: This allows entrepreneurs to stay focused on strategic decisions in their businesses and in their own lives.
- Freedom of choice and saying "no": The freedom to choose is valued, but the importance of rejecting distractions that don't align with our goals is highlighted. This disciplined perspective allows us to stay on the path towards our objectives.
- Confronting fears and embracing sacrifice as part of our journey: Facing one's own fears and learning to overcome them is part of the entrepreneur's path to success.
- Building valuable relationships is key: Communication and mutual support play a crucial role in pursuing shared goals. A well-established bond within the group allows everyone to help each other stay on track towards their objectives.
- Concentration and discipline are key pillars: Maintaining composure and focus on our priorities allows us to make the best decisions on our entrepreneurial journey.
- Learning through experiences: Willingness to face challenges and seek growth-oriented experiences enables continuous improvement and personal growth.
- Importance of strong personal values: Clear values guide our decision-making process and keep us aligned with our vision.
- Evolution and adaptation: The ability to adjust and refine our vision over time ensures we stay on track and remain relevant in a dynamic business environment.
Welcome to this new Road To 100 episode where we introduce an exceptional guest who embodies the fusion of family, business, impact, and success. Our guest today has been the right hand to one of the most influential and prosperous individuals that Pasha and Cody know. On top of running a Family Office, he also sits as the CEO of an acclaimed organization of entrepreneurs where he's orchestrating incredible transformations in the lives of countless entrepreneurs. Welcome to the show, a true visionary and powerhouse, the CEO of the Osborn Family Office , the CEO of GoBundance, and a family-oriented businessman, Matt King!
Here are some power takeaways from today’s conversation:
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A Remarkable Journey: In this episode, you're in for a treat as we dive deep into the life and journey of Matt King. From humble beginnings in a small Wisconsin town to becoming an instrumental part of a large empire, Matt King discusses his growth, learning, and how he’s been seizing opportunities. Discover how a chance encounter in a locker room led to a life-altering perspective on wealth and success. Join us as he shares pivotal moments that shaped his path, including his shift from the locker room to running a silk screening embroidery company, and his decision to relocate to the East Coast with just$20,000 in his bank account.
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Leaving Comfort Zones for Growth: As we navigate through Matt King's journey, the spotlight turns to his move to the East Coast, where he embraced change and took on a new chapter in his life. Tune in to hear how a chance meeting with a real estate investor, Pat Hiban, ignited Matt King's curiosity and opened doors. he shares how his connection with Pat eventually led him to the GoBundance community, where he crossed paths with the remarkable David Osborne, a game-changer who would significantly influence his life and career.
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Crafting an Abundant Life: Prepare for a discussion on how Matt King managed to balance a life filled with diverse responsibilities and pursuits. Discover his approach to leveraging talent, systems, and the power of synergy to create an abundant life that encompasses family, business, and personal growth. As we delve deeper into his journey, Matt King candidly explores the challenges, learnings, and valuable takeaways he's gathered along the way.
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Key Insights and Unveiling the Future: Get ready for a treasure trove of wisdom as Matt King shares his insights on living an abundant life, juggling multiple responsibilities, and navigating the challenges of entrepreneurship. Gain insights into the dynamics of family offices, mastermind groups, and the power of mentorship. Our guest also delves into his role in GoBundance and how the organization impacts the lives of its members.
Episode Highlights:
[00:00 - 01:47] - intro
[01:47 - 08:51] - From Shoe Cleaner to CEO
[08:51 - 11:58] - Leading with Humility
[11:58 - 16:13] - Unlocking Vulnerability
[16:13 - 23:24] - Embracing Connection and Growth: Insights from Authentic Conversations
[23:24 - 28:25] - Balancing Success and Family: The Power of Habits and Choices
[28:25 - 33:19] - Unlocking Success: Shifting Mindsets and Embracing Growth
[33:19 - 37:28] - Unlocking Leadership: Inspiring Empires Through Vision and Care
[37:28 - 41:48] - Expanding Your Vision: Achieving Success Beyond Expectations
[41:48 - 49:41] - Rediscovering Purpose: A Journey of Awakening and Transformation
In this podcast, Adam Witty reveals the art of transforming marketing strategies from traditional pitches to thought leadership. Uncover how adopting the role of a trusted thought leader can establish rapport and enhance customer relationships. The episode delves into the history of Adam Witty and how relevant authority marketing is in today's world. Adam shares invaluable insights on overcoming doubt and comparison by shifting focus from ego to impactful teaching. He also tells us strategies to combat imposter syndrome and embrace a servant leader mindset, emphasizing valuable messaging over self-promotion. Another topic treated is how to strike the balance between conveying value and avoiding ego-driven marketing. Adam notes the importance of online presence and reputation in the digital age, where trust is established through virtual interactions.
Then, Cody and Pasha talk to Adam on one frequently asked question for a lot of people. How to write a book. Adam teaches us that we need to craft evergreen books that resonate by choosing timeless topics aligned with audience interests. Then you can blend personal stories with factual content for engaging, teaching and maintaining relevance. Finally, Adam talks about mastering niche targeting, saying no, and maximizing impact. Embracing the journey of becoming a thought leader, avoiding the pitfalls of celebrity status and ego. He remarks on how the focus on selflessness and value provision as the keys to true authority marketing.
Here are some power takeaways from today’s conversation:
- Transforming Marketing to Thought Leadership: The shift from traditional sales to thought leadership in marketing emphasizes becoming a trusted teacher. Sharing knowledge and educating customers foster rapport and receptiveness, building credibility that goes beyond direct selling.
- Overcoming Doubt and Embracing Authority: Overcoming doubt involves focusing on the message, not personal comparison. Embracing authority requires being a servant leader, offering value without immediate gain. True authority is established through knowledge-sharing and selflessness, not ego.
- Navigating the Path to Marketing Authority: A strong online presence is vital for credibility and trust. It's akin to not undermining initial trust on a first date. The digital shift due to the pandemic underscores the importance of a robust online footprint.
- Trust in the Digital Age: The speaker prefers investing in smaller growing markets with a minimum MSA size of around 50,000. They prioritize strong demand and minimal overbuilt supply, collaborating with other tenants to ensure high occupancy.
Episode Highlights:
[00:00 - 01:52] Intro [01:52 - 07:49] Transforming Marketing: From Sales Pitch to Thought Leadership [07:49 - 08:54] Unleashing Your Inner Authority: Recognizing and Sharing Your Expertise [08:54 - 11:54] Overcoming Doubt and Comparison Embracing Your Authority for Impactful Teaching [11:54 - 13:37] Shifting the Spotlight: Focusing on the Message, not the messenger [13:37 - 16:59] Striking the Balance: Conveying Value without Ego in Marketing and Teaching [16:59 - 21:13] Navigating the Path to Authority: Targeting, Content, and Building Trust [21:13 - 25:13] Earning Trust in the Digital Age: The Vital Role of Online Presence [25:13 - 30:13] Crafting an Evergreen and Relevant Book: Writing for Readers' Interests [30:13 - 32:57] Balancing Passion and Relevance: Weaving Personal Stories into Factual Content [32:57 - 35:43] Defining Your Target Audience: The Challenge of Finding a Niche [35:43 - 37:00] Narrowing Your Focus for Maximum Impact: The Power of Saying No [37:00 - 39:35] Beyond the Checklist: Embracing Authority as a Lifelong Commitment [39:35 - 43:44] Navigating the Fine Line: From Thought Leadership to Celebrity Status [43:44 - 47:24] The Heart of Thought Leadership: Ego, Compassion, and True Value
In this podcast, Ryan shares his journey in real estate investment, with a focus on retail centers in smaller growing markets. He started with a fourplex, gradually progressing to larger deals, partnering with a friend for investment capital. While initially managing properties themselves, they now use third-party management. Due to Covid challenges, Ryan had to adapt and shifted away from multifamily preferring other real estate deals. During the eviction ban, Ryan faced significant financial losses, leading to immense stress. However, he strategically managed his properties and avoided personal financial losses by giving back one property to the bank as a friendly deed in lieu.
Despite initial concerns about the "retail apocalypse," the retail market has shown strength with robust leasing and occupancy, particularly in power centers with stores like TJ Maxx and Ross Marshalls. Ryan underwrites the cash needs across their portfolio to manage challenges associated with longer vacancy periods. Now, he is comfortable investing in smaller markets with strong demand and minimal overbuilt supply. His strategy involves acquiring the best-looking assets and collaborating with strong tenants to ensure high occupancy.
Finally, Ryan also remarks about the importance of family and health above work, prioritizing quality time with their young children. He maintains a healthy routine and recently returned from a beach vacation. Balancing work and family life is essential for him, and is committed to taking care of their physical and mental well-being alongside their family responsibilities.
Here are some power takeaways from today’s conversation:
- Retail Market Resilience: Despite initial concerns about the "retail apocalypse," the retail market has shown strength with robust leasing and occupancy in power centers. Rates have held steady, and tenants like TJ Maxx and Ross Marshalls remain stable.
- Real Estate Journey and Growth: The speaker started with a fourplex and progressed to larger deals, partnering with a friend for investment capital. - They shifted away from multifamily due to Covid challenges and now focus on other types of real estate deals.
- Eviction Ban Challenges: The speaker faced significant financial losses and stress during the eviction ban, particularly with inflexible CNBS loans.
- Family and Health Prioritization: The speaker places family and health above work, valuing quality time with their spouse and young children. They maintain a healthy routine for physical and mental well-being.
Episode Highlights:
[00:00 - 01:23] Intro [01:23 - 02:27] Entrepreneurship, Friendship, and Creative Deal-making: The Inspiring Story of Ryan Bowden [02:27 - 04:51] From Retail Centers to Real Estate: A Journey of Growth and Resilience [04:51 - 11:08] Scaling Up: Building a Real Estate Empire [11:08 - 13:18] Navigating Evictions, Financial Challenges, and Strategic Moves in Multifamily Investing [13:18 - 16:13] Stress, Anxiety and Uncertainty: Lessons Learned from the Pandemic [16:13 - 17:44] Exploring the Real Estate Space: Attraction and Concerns [17:44 - 19:32] Pros and Cons: Beauty and Challenges of Retail Real Estate Investments [19:32 - 23:21] Insights on the Retail Market: Leasing Strength, Slow-Moving Challenges, and Underwriting Considerations [23:21 - 27:21] Insights on Real Estate Financing [27:21 - 31:50] Unconventional Investments: Strategies and Criteria for Success [31:50 - 33:38] Strategies for Tenant Relationships and Broker Engagement in Retail Real Estate [33:38 - 37:47] The importance of Clarity, Staying True to Principles, and Pursuing Bigger Deals in the Real Estate Business [37:47 - 43:43] Anticipating Opportunities Amidst Changing Conditions" [43:43 - 47:37] Balancing Family and Health: Prioritizing Personal Life in a Successful Career [47:37 - 49:06] Setting Big Goals and Celebrating Milestones: A Year of Adventure and Family
In the podcast, Kris shares his experience as partner at Reliant Real Estate Management, a company dedicated to investment in the private self-storage sector. At Reliant, they have optimized their investment processes to be an efficient machine. Reliant has been recognized as the 17th largest storage operator in the United States in 2022.
Throughout the conversation, various topics are explored, such as the growth of the self storage sector and its resilience during recessions. Factors driving the demand for storage, such as deaths, relocations, divorces, and the pandemic, are highlighted. The importance of data and establishing key contacts in the business sphere is also mentioned.Additionally, topics related to capital raising, the fragmentation of the storage market, and the associated risks of investments are discussed. The importance of having good operators, evaluating for the long term, and not being swayed by occasional instability is emphasized.
The hosts and Kris also discuss the importance of a balanced life, such as cultivating healthy habits and seeking meaningful experiences rather than accumulating material possessions.Finally, Kris shares his interest in racing cars as a hobby and invites other participants to an event related to this passion.
Here are some power takeaways from today’s conversation:
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Growth in the storage sector: The resilience of the storage industry during recessions and its consistent growth over the years are highlighted.
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Self-storage emerges as an attractive investment sector as factors such as deaths, relocations, divorces, and the pandemic drive demand for storage.
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Data and relationships are key: Information and contacts are relevant in the business world. Establishing strong relationships and leveraging different platforms to gather information are crucial aspects for success.
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In a challenging capital raising environment, it is important to carefully consider the risks of each investment and maintain a long-term growth perspective. Working with good operators is also crucial.
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A future outlook for the next 5 to 10 years allows for setting goals with encouraging returns and not being swayed by occasional periods of instability. It is during times of instability that interesting investment opportunities arise, which should be evaluated carefully.
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Balance and personal success: To ensure a balanced and successful life, the recommendation is to work on small habits day by day to achieve impactful long-term results. Emphasizing the value of building Simple habits that are not Easy to maintain.
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Maintaining a clear perspective on money makes it easier to use it in the best way. Seeing it as a tool to gain meaningful experiences makes it easier to pursue it with healthy habits and not become obsessed with the sole acquisition of material possessions.
Episode Highlights:
[00:00 - 01:21] Intro [01:21 - 02:01] Kris Benson and Reliant: Hitting $1B in self-storage transactions
[02:01 - 04:11] Success in the Self-Storage Industry: The Incredible Growth of Reliant
[04:11 - 05:35] The Resilience of the Self Storage Sector and its Growth During Recessions
[05:35 - 06:56] The Importance of Data and Collaboration in Business Success
[06:56 - 12:11] Influences and Mentors on Kris's Entrepreneurial Journey
[12:11 - 17:41] Lively Discussions on Unusual Confrontations
[17:41 - 19:11] The Self Storage Market: Fragmentation and Consolidation Outlook
[19:11 - 23:11] Capital Raising and Financial Responsibility: Kris's Advice for Investors and Entrepreneurs
[23:11 - 24:01] Selective Focus in Business
[24:01 - 31:06] Long-Term Perspective and Overcoming Instability
[31:06 - 33:41] Balance and Healthy Habits: The Secret to Long-Term Success
[33:41 - 34:36] Investment and ROI: The Importance of Perspective
[34:36 - 37:51] The Value of Experiences: Perspectives on Money and Life
[37:51 - 44:36] High-Speed Hobby: The World of Racing Cars and Extravagant Experiences
The podcast this week introduces us to Joe Wechsler, a management consultant turned operational business entrepreneur. In this episode, Joe shares his experience in acquiring different businesses and how he has managed to reduce associated risks. He discusses the importance of reading and taking action in entrepreneurship, as well as his process for selecting businesses to acquire. Joe emphasizes the importance of having a prepared team in the acquired businesses and how he has learned from past experiences. He also mentions the use of the Entrepreneurial Operating System (EOS) and its focus on leadership and mentoring to achieve business goals. Hiring staff, the importance of core company values, and candidate selection strategies are also addressed in the interview. All of this is aimed at achieving financial and personal freedom so that Joe can invest time in his family and his adventurous and sporty lifestyle.
Here are some power takeaways from today’s conversation:
- Taking action and learning from hands-on experiences can be more impactful than solely relying on extensive reading or courses.
- The existence of a capable and dedicated team that can maintain the operation running smoothly is a key aspect to consider when acquiring businesses.
- When recruiting, it is important to consider tools such as personality tests or develop sufficiently lengthy processes to evaluate the fit between the individual's values and those of the company.
- When acquiring a business, it is crucial to delegate tasks to competent leaders and have faith in their work without micromanaging everything.
- The organic outcomes achieved by the teams lead to increased satisfaction and foster their growth in assuming responsibilities.
- Acquiring businesses in growing markets allows for capitalizing on their potential and driving further expansion.
- Understanding the competitive positioning of a business is crucial for long-term success, knowing factors such as unique products or services, strong customer relationships, and innovative technology are key when acquiring a new business.
- Acquiring businesses with scalable models allows for leveraging synergies and operational efficiencies, maximizing overall growth and profitability.
- Cultural fit: Seeking businesses with a similar mission, values, and work culture to one's own company facilitates collaboration, employee engagement, and customer satisfaction during the integration process.
Episode Highlights: [00:00 - 1:20] Intro [01:20 - 3:25] Mergers and Acquisitions in the Mid and Lower-Market [03:25 - 07:20] How Joe Wechsler Found Success in the Mid-Market M&A Space [07:20 – 9:32] Joe's Advice on Gaining Momentum [9:32 – 10:48] A Fit Team: The Key to Building a Strong Foundation [10:48 – 13:04] Risk Reduction Strategies in Business Acquisitions: A Guide for Investors [13:04 – 15:25] Diversifying Success: Building a Thriving Business Portfolio [15:25 – 17:10] Acquiring Stable Businesses: The Key to Success for Investors [17:10 – 19:32] EOS: The Tools You Need to Manage Multiple Businesses [19:32 - 20:35] The ROI of Being a Mentor for Your Teams [20:35 - 29:40] Efficient Hiring Strategies: How to Find the Right Talent Fast [29:40 - 41:10] Balance Your Projects with Your Personal Life
David Toupin, a successful real estate investor and founder of Real Estate Lab, shares his journey and insights in real estate investment. Starting at age 20, David bought his first apartment complex and amassed over $120 million by age 27 through investments in multifamily and commercial properties. Inspired by books and podcasts, David overcame financial obstacles by networking and convincing investors to collaborate with him. He focuses on large off-market opportunities and joint ventures, mastering the numbers for maximum returns. David also founded Real Estate Lab, a software company aiding investors and businesses with financial models. The podcast discusses the real estate market, opportunities in multifamily sector, and the importance of values. David's motivation for entering the software field stemmed from an efficient template he developed. He emphasizes expanding the user base and improving the software's functionality. The conversation touches on lessons learned from mistakes and challenges faced in transitioning industries.
Here are some power takeaways from today’s conversation:
- Start Early and Be Entrepreneurial: Cultivating an entrepreneurial mindset from a young age and being proactive in pursuing opportunities.
- Persistence and Professionalism Pay Off: Despite not having financial support from friends or family, David's persistence and professionalism enabled him to overcome challenges and convince investors to collaborate with him.
- Seek Off-Market Opportunities and Joint Ventures: This approach offers flexibility, avoids excessive complexities, and allows for higher returns by collaborating with a select few partners.
- Master the Numbers and Pay Attention to Details: This helps minimize dependence on external analysts, ensures a deeper understanding of the projects, and maximizes returns.
- Capitalize on Growing Opportunities in the Multifamily Sector: The podcast emphasizes the potential in the multifamily sector, with a significant number of apartments in the country and a growing demand for additional units.
- Learn from Mistakes and Value Experience: Embracing failures and continuously learning from them is crucial for improvement and success in the investment industry.
Brian Luebben, our guest, shares his journey from a corporate career to financial freedom. He started with house hacking and turned his podcast, "The Action Podcast," into a profitable business. His goal is now to help others achieve financial freedom.
Brian stresses the importance of having a clear vision and suggests starting a business podcast to connect with experts and gain valuable insights. Consistency and short-term goal visualization are key to success. The discussion highlights prioritizing vision over equity and networking, and the benefits of focusing on a single business to minimize stress and maximize returns. Mentoring collaborators and considering return per capita are also important.
Brian emphasizes the enjoyment of the journey rather than solely focusing on the destination. He discusses the significance of passion income and financial freedom, as well as the impact of his podcast on his life and meaningful connections he has made.
In conclusion, Brian Luebben shares his experience pursuing financial freedom, emphasizing the importance of a clear vision, focusing on one business, enjoying the process, and building valuable connections through his successful podcast.
Here are some power takeaways from today’s conversation: - Cash flow is crucial for financial freedom: Networking and equity come into play later to maintain that freedom once achieved. - Creating a clear vision is essential for attracting valuable individuals who can contribute to its realization. - Consistency and visualizing a vivid vision for the short-term future are key aspects. - Having a clear vision helps avoid getting trapped by the Sunk Cost Fallacy. - Managing multiple small businesses can be time-consuming and stressful, while specialization tends to yield better results. - Prioritize Return on Effort (ROE): Brian introduces the concept of Return on Effort, highlighting that true utility goes beyond just income minus expenses. It also considers the level of satisfaction and fulfillment derived from the chosen path. - Become a mentor to employees: Fostering the growth of team members leads to higher returns on investment. - Find enjoyment in the journey: Briann emphasizes the importance of enjoying the entrepreneurial journey rather than focusing solely on the destination. - Attention is crucial in the media industry, and providing value consistently over time helps build a strong audience. - Have a clear vision for personal freedom: Brian discusses the freedom achieved through his podcast, including financial, personal, and philosophical freedom. - The podcasting landscape is not saturated: The podcasting industry still has significant room for growth and offers numerous opportunities.
Episode Highlights:
[00:00 - 01:21] Intro [01:21 - 04:51] Briann Luebben's Journey to Success Through The Action Podcast [04:51 – 5:31] Prioritizing Cash Flow over Equity and Networking [05:31 – 08:11] Defining Your Vision and Building Your Path to Success [08:11 – 09:26] Building a Vision that Attracts All the Rockstars [09:26 – 11:21] How to Avoid the Sunk Cost Fallacy [11:21 – 15:11] The Power of Letting Go: How to Achieve Greater Focus and Productivity [15:11 – 18:01] The Key Metrics to Track for Growth [18:01 – 21:36] The Journey is the Destination [21:36 – 25:41] The Podcasting Revolution: How to Unlock the Benefits of This Growing Industry Optional: The Benefits of Podcasting [25:41 – 27:27] The Power of Podcasting: How to Reach Your Audience and Make an Impact [27:27 – 32:21] The Numbers Behind a Successful Podcast [32:21 – 34:01] The Secret of Media: How to Build a Brand That People Trust [34:01 – 36:21] How to Create a Podcast That People Will Love to Listen To [36:21 – 38:21] The Rise of Podcasting: Is the Market Saturated? [38:21 – 44:21] The Courage to Be Authentic: How Sharing Your Own Experience Can Help You Grow [44:21 a 44:51] Do the Art First, Then Apply the Science
In this episode, Alvin Uy, known as "the dragon slayer," shares his perspective on overcoming life's challenges and becoming a better version of oneself. He emphasizes the importance of facing and defeating these challenges. Alvin recounts how a mentor's advice led him to become more multidimensional, stepping out of his comfort zone and broadening his perspective. Currently, he battles the dragon of personal branding in the real estate industry, requiring him to showcase himself publicly.
Cody and Pasha discuss personal branding, realizing its value in sharing experiences to help others. They agree that fear and stepping out of comfort zones are essential for growth. Alvin shares his family's journey from a life of wealth in the Philippines to the United States due to safety concerns. The transition was difficult, facing challenges in finding employment and settling down. Alvin's resilience and determination were shaped by these experiences, fueling his drive to overcome obstacles.
Alvin's involvement with GoBundance improved his decision-making based on relationships rather than just money. Cody praises Alvin's self-awareness and its impact on investments and leadership. They highlight the importance of discussing such experiences to help others.
Alvin discusses Accessory Dwelling Units (ADUs) in real estate, highlighting their benefits and comparing them to prefab houses. He also talks about his approach to renting properties and utilizing laws like SB9 for expanding structures. The conversation concludes with Alvin expressing his motivation to take on new challenges, collaborate, and explore private equity. Cody recommends a book on real estate private equity. The hosts commend Alvin for his authenticity and openness.
Here are some power takeaways from today’s conversation:
- Take life's challenges as dragons that must be overcome. This is a powerful mindset that will help you become a better version of yourself.
- Try to be multidimensional. Focus on learning various skills and stepping outside of your comfort zone. This will lead to continuous growth and expand your perspective.
- Personal experiences can provide value to others in making better decisions. Don't hesitate to share your story and work on your personal brand.
- Fear is a sign of growth. Embrace fear and challenges as opportunities for personal development. Stepping outside of our comfort zone and facing new challenges is essential for growth and avoiding regrets.
- Prioritizing relationships and building authentic connections are key to personal and professional success.
- Accessory Dwelling Units (ADUs) offer the potential for additional income and increased property value, particularly in areas with high demand for affordable housing options.
Episode Highlights:
[00:00 - 01:22] Intro
[01:22 - 02:45] Fighting Dragons and Being Multidimensional
[02:45 - 6:47] Personal Branding and the Value of Experience Stepping Out of the Comfort Zone to Defeat the Personal Branding Dragon
[6:47 - 9:57] Conquering Dragons: Embracing Fear
[9:57 - 15:27] Leaving Everything Behind to Build a Better Future
[15:27 – 18:22] The Land of Opportunities and the Mindset for Success
[18:22 - 21:17] A Devastating Experience and a New Change of Plans
[21:17 - 24:52] Building Seven-Figure Success Through Genuine Connections
[24:52 - 30:12] ADUs and Real Estate Strategies
[30:12 - 35:17] Are Prefabricated Homes Worth It?
[35:17 - 41:45] Surpassing Boundaries: Alvin's Journey to 10x Success
In this episode, Scott, an experienced Air Force pilot, shares valuable lessons on leadership, stress management, and personal growth. He and Cody discuss the positive aspects of stress and anxiety. Scott also talks about his post-Air Force career and emphasizes the importance of networking and friendship. They touch on healthy habits and Scott's daily routine for maintaining energy. The episode concludes with Scott offering various options for a healthier life and providing his contact information.
Here are some power takeaways from today’s conversation:
- Embrace stress and anxiety as positive impulses that can help you focus and grow.
- Networking and leveraging relationships are crucial for career development and benefiting clients.
- Taking care of your physical well-being and cultivating good habits directly impact your energy levels and decision-making abilities.
- Surrounding yourself with exceptional people who inspire and challenge you can have a profound impact on your personal and professional development.
- Small lifestyle changes can yield significant results in terms of increased energy levels, motivation, and clarity of mind.
- Accepting challenges, seeking continuous improvement, and being open to new experiences contribute to a fulfilling life.
Episode Highlights:
[00:45 to 7:20] Beyond the Comfort Zone: Scott's Air Force Lessons for Thriving in Uncertain Markets
[7:20 - 13:30] The Power of Anxiety: Harnessing Stress as a Tool for Growth
[13:30 - 17:05] Exploring Career Transitions: Navigating Recession and Building Networks
[17:05 - 19:30] Nurturing Friendships and Personal Growth: Expanding Expectations
[19:30 - 24:10] Unlocking Optimal Performance: Biohacking for Energy and Decision-Making
[24:10 to 27:50] The Power of Rest and Recharge in Scott's Daily Routine
[27:50 to 38:05] Revitalizing Rituals: Scott's Journey to Detoxification and Rejuvenation
Kevin Gray discusses default and inflation risks, their implications for the economy and investment strategies. Resolving the debt ceiling is expected. Interest rates won't soar. Inflation requires adaptable strategies. T-Bills, international investments are attractive. Diversify and use historical knowledge to manage risk. Monitor and plan for potential risks, aiming for a balanced investment approach.
Here are some power takeaways from today’s conversation:
- Planning for inflation requires taking on more risk and carefully balancing investment portfolios.
- Market uncertainty highlights the importance of diversification and not relying on a single category.
- Distribution of investments and having a solid foundation are key factors in investment strategies.
- Historical knowledge and understanding repeating patterns can guide investment decisions.
- Good temperament and a long-term perspective are crucial for successful investing.
Episode Highlights:
[00:50 to 4:40] The Risk of Default and the Importance of Raising the Debt Ceiling:
We discuss inflation, the debt ceiling, and its impact on the market and economy. Default would be disastrous, affecting markets and the dollar as the reserve currency. Politicians must take action to raise the debt ceiling. Debt-to-GDP ratio is key, and our current ratio is manageable. The media may create noise, but it shouldn't have a long-term impact.
[04:40 - 10:40] Impact on Interest RatesOptional:
Exceeding the debt limit would increase pressure on bonds and destabilize interest rates. Politicians must reach an agreement to stabilize the situation. Kevin isn't changing his portfolio as he believes it will be resolved like previous times.
[10:40 - 19:45] Inflation and Protecting the Value of Money
Inflation has increased, and planning should account for it. Taking more risk in the short term may be necessary. Traditional investment strategies like 60/40 portfolios have changed, requiring quicker adaptations. The economy is slowly declining, but the situation can improve if the Federal Reserve stops raising interest rates.
[19:45 - 25:00] Investment Opportunities in the Private Sector and T-Bill Trends:
T-Bills are attracting interest due to their ease of investment. International investments offer good returns, especially in European Union countries. Private equity is also appealing, but liquidity is limited. It's important to consider long-term perspectives and market cycles.
[25:00 - 30:20] Navigating Market Uncertainty and Emphasizing a Solid Foundation:
Entering investments when others exit can be advantageous. The J-curve indicates initial losses followed by gains. Having a solid foundation and focusing on long-term benefits is crucial. Kevin predicts decreasing interest rates.
[30:20 - 35:05] Investment Strategies in Times of Uncertainty:
Investors tend to become aggressive during favorable market conditions and conservative during losses. Diversification is key, not relying solely on US equity or bonds. Distribution of investments across different categories is important for long-term success.
[35:05 - 38:10] The importance of good temperament in investments and how historical knowledge can guide investment decisions
Considering historical patterns helps in making investment decisions. Good temperament and historical knowledge guide strategies. Diversification and strategic planning are crucial. Learn from history and execute investment plans accordingly.
[38:10 - 50:10] Opportunities and Risks in Different Investments: Sectors, Private Alts, and Real Estate Insights.
Investment insights: sectors, private alternatives, real estate. Low-risk options, attractive returns, rental market opportunities.
Abdeen Vaziri, an immigrant and advocate of the EB-5 investment visa program, shares his personal journey from Iran to the United States in a podcast interview. He highlights the opportunities and freedoms in the US, contrasting them with totalitarian regimes. Abdeen explains the EB-5 program, which allows foreign investors to obtain a green card and expedited citizenship by creating job opportunities for US citizens. He discusses his involvement in the real estate industry and managing high-risk investment funds, attributing his success to skills learned as a professional poker player. The interview covers the importance of sales skills, the need for immigration system reform, and the specifications of the EB-5 program.
Here are some power takeaways from today’s conversation:
- Abdeen's journey showcases immigrant hardships and the US' unique opportunities and freedoms compared to other countries.
- The EB-5 program enables investors to obtain a green card, expedited citizenship, and plays a significant role in US real estate development.
- Poker skills (deception detection, communication, observation, rejection handling, composure) benefit business, real estate, sales, and financial management.
- The US immigration system requires comprehensive revision to address current challenges.
- The EB-5 program offers investors a second passport and pandemic security opportunities.
- Importance of sales skills and handling rejection
Episode Highlights:
[01:45 - 7:00] Abdeen Vaziri's Escape from Iran
Abdeen, Pasha's poker friend, shares his journey from Iran to the US as a refugee, highlighting chaos and settling in Los Angeles.
[7:00 - 10:00] The Land of Possibilities: Abdeen's Perspective on America
Abdeen's story: US opportunities, challenges compared to totalitarian regimes, foreign integration, green card identity.
[10:00 - 12:45] What are EB-5 visas, and how did Abdeen's migration experience impact his work?
Abdeen found fulfillment in EB-5 visas, benefiting from immigrant experience. Program grants green cards, citizenship via job creation. US citizenship offers unmatched rights.
[12:45 - 15:00] Abdeen's work in managing high-risk investment funds and how the EB-5 became popular in real estate
Abdeen manages a high-risk investment fund, including the Real Estate Focus Fund. EB-5 program attracts investments, creates jobs, and benefits US projects.
[15:00 - 18:25] Military, Cold Calling, and Poker Were Key to Abdeen's Success
Abdeen's diverse journey shaped his real estate success: military, telemarketing, education, poker. Skills in discipline, communication, financial management contribute to his portfolio and career.
[18:25 - 20:10] Beyond the Table: How Poker Strategies Boost Entrepreneurial Insight
Abdeen's poker skills in detecting deception are invaluable in business, helping him identify scams and evaluate projects. Despite leaving his career for a while, he values the lessons learned and the ability to recognize genuine people.
[20:10 - 24:10] Spotting Odd Behaviors: Poker Strategies for Real Estate
Real estate pros gather insights, like poker players observing patterns. Abdeen highlights poker-life similarities, diverse table experiences for learning.
[24:10 - 28:45] Why Sales Mastery should be a Non-Negotiable
Cody values rejection for growth, Abdeen emphasizes sales skills, expanding horizons. Pasha highlights composure in negotiations, from poker and business.
[28:45 - 33:45] The Inmigration Situation and Why Politicians Are Not Making a Change
Abdeen urges immigration system overhaul; Dems & Reps failing. Expand admissions, aid undocumented. Cody: Broken system, data-driven solutions.
[33:45 - 44:10] The EB-5 Program Decoded: Investments, Process Overview, and Paperwork Guidelines
EB-5 program: $500K min. investment ($900K temporarily). Second passport option. Legal assistance, alternative to banks. Abdeen advises preparation, seek info. Cody rebuilding hotel, positive outcome, insurance.
Adam Witty is the founder and CEO of Advantage Media and Forbes Books, two companies that help entrepreneurs establish themselves as thought leaders in their fields. As a guest on the "Road to 100" podcast with Cody and Pasha, Witty shared his experience of founding Advantage Media and forming a strategic partnership with Forbes that resulted in Forbes Books along with how entrepreneurs can grow their business with authority media.
Witty's philosophy of "authority media" emphasizes impact over ego and encourages entrepreneurs to focus on providing value and teaching their audience, rather than just trying to sell something. He believes that choosing to be a servant and a teacher to help others is more practical and powerful than just trying to make a sale. The podcast also delved into topics such as authenticity when presenting, managing the attitude of ambitious entrepreneurs, and creating one's own economy.
As a forward-thinking entrepreneur, Witty discussed the future of publishing companies and information providers with artificial intelligence technology. He explored the possibilities of how AI could revolutionize the publishing industry and make it easier for authors to reach their target audience.
Here are some power takeaways from today’s conversation:
- Entrepreneurs can establish themselves as authorities by sharing their unique experiences and passions which can be more effective at growing their business than traditional selling
- Becoming an authority takes time and effort but pays off more than traditional advertising.
- The importance of building your own media platform instead of relying on third-party platforms
- Regardless of economic conditions, entrepreneurs should focus on creating value and believe in the value of what they do
- The future of AI in content creation and media
[00:50] From part-time employee to building the biggest business media brand in the world: The publishing journey of Adam Witty
Adam Witty started in printing, learning book creation. He founded his own publishing company, serving managers. Securing contracts at an event spurred him to start his own venture. Witty invests in properties, startups, and healthcare technology. He proposed book publishing to Forbes, resulting in a strategic partnership and Forbes Books.
[10:40] Authority media and how to develop value by teaching your audience by Adam Witty
Witty advises entrepreneurs to be thought leaders and educators, emphasizing impact over ego. Sharing unique experiences and passion builds authority. Adam encourages entrepreneurs to teach instead of sell, fostering authenticity and trust. Teaching without expecting sales enhances our message's reception.
[19:30] Building Authority in Your Field: The Power of Personal Experience and Sharing your Story
Adam believes people undervalue themselves, comparing to others and feeling inferior. Sharing personal stories is valuable. Ambitious entrepreneurs prioritize growth. Becoming an authority takes time and effort, surpassing advertising. Create and control your own media platform across various mediums.
[28:20] Creating your own economy: Focus on your value and not on external factors or macro environment
Adam advises entrepreneurs to focus on their own economy, unaffected by external factors. Create value, believe in your work, and avoid excessive concern. Pasha emphasizes a problem-solving mindset, not playing the victim. Build a strong business independent of external forces.
[27:00] Artificial intelligence and the opportunity for creative entrepreneurs:
Adam highlights AI, like ChatGPT, as a valuable tool for creative entrepreneurs in publishing. AI is a facilitator, not a threat, assisting ethical content creation without plagiarism. AI enhances creativity and art, benefiting the creative and original without compromising quality.
Check out this interview with Gabriel Hamel, a successful real estate investor who has built an incredible real estate empire from scratch with no investors and achieved financial freedom at 27. He prioritizes family and relationships, hires third-party administrators to manage most of his properties, and only has one employee across a massive portfolio of properties. In this interview, Gabriel shares his journey as an entrepreneur and offers valuable insights into achieving work-life balance and financial independence. Whether you're starting as an entrepreneur or looking to take your career and personal life to the next level, you won't want to miss Gabriel's inspiring stories and practical advice.
- You can build a big portfolio with no investors, but rather creativity, hard work, and building strong relationships.
- Delegating responsibilities to third parties is crucial for flexibility and freedom when managing multiple properties, preserving the time freedom you aimed for. Understanding the reasons behind your pursuit of financial freedom and aligning goals with your desired lifestyle are vital for achieving work-life balance.
- Intentional Imbalance: How Gabe prioritizes different areas his life to spend extra attention to
- Gabe’s approach to powerful habits
Episode Highlights:
[01:05] From Wrestling to Real Estate: Gabriel Hamel's Unique Path to Investment Success
Successful real estate investor Gabriel Hamel shares his insights and experience. With an entrepreneurial spirit, he discovered his inclination towards disciplines like wrestling and military training, which aligned better with his personality than a conventional job. Inspired by "Rich Dad Poor Dad," Gabriel ventured into real estate investing in 2005. He believes in calculated risks and a balanced offensive and defensive approach to investment decisions.
[07:40] Maximizing ROI with Creative Financing: Gabriel Hamel's Advice
Gabriel attained financial freedom through real estate investments, exceeding expenses. He actively builds relationships and engages in conversations for deals. Focusing on high-return areas like mobile home parks and commercial complexes, he emphasizes diverse financial options for property sellers. Creativity combined with a supportive bank leads to bigger deals and goal fulfillment.
[18:20] Working Smarter, Not Harder: Gabriel Hamel's ApproachLifestyle Design
Gabriel delegates property management to focus on the bigger picture. Financial freedom grants time freedom, but many in real estate work even harder. He emphasizes understanding personal motivations and aligning goals with the desired lifestyle.
[22:30] The importance of Clarity in Real Estate: why is it important to remember why you started in Real Estate
Gabriel advises intentional and strategic approaches in real estate to prevent excessive work. Taking calculated risks and prioritizing goals is key. Effective communication, delegation, and intentional imbalance contribute to success.
[27:00] Intentional Imbalance, focus on what you need
Gabriel values intentional imbalance, prioritizing different aspects of life as needed. Initially focused on financial freedom, he now emphasizes family. Open communication and understanding strengthen his relationship with his wife. They adapt priorities between business, family, and personal development, emphasizing intentionality and consistency.
[34:50] Long-Term Health and Fitness for Entrepreneurs
Motivation and habits are crucial for quitting alcohol and staying healthy, according to Gabriel, Pasha, and Cody. Gabriel emphasizes the importance of a clear reason for maintaining long-term healthy habits, while Cody's 45-day challenge demonstrates personal motivation. Consistent habits, prioritizing healthy eating and regular training, are key for long-term health and fitness. Entrepreneurs must prioritize physical health as it affects all aspects of life.
Interested in leaving your W2 for the world of entrepreneurship and investing? insightful interview with Mehdi Khachani. Mehdi shares his journey from a high-level executive in a W2 to a successful real estate investor and entrepreneur, offering valuable insights into the world of entrepreneurship and investing. Discover how Mehdi achieved financial freedom and work-life balance by taking calculated risks, building successful teams, and designing the life he wanted. With inspiring stories and practical advice, this interview is a must-watch for anyone looking to take their career and personal life to the next level. Don't miss out on the opportunity to learn from Mehdi's wisdom and experience!
- Here are some power takeaways from today’s conversation:
- Find the balance between lifestyle and entrepreneurism
- Planning 2 steps ahead and with a long term vision to design the life you want
- Why risk is important to achieve big results
- Being intentional is crucial for success in both work and personal life
- Focus on relationships, trust and teams to compound success
Episode Highlights:
[01:20] Mehdi Khachani: From W2 Executive to Successful Real Estate InvestorMehdi switched from engineering to business after completing his MBA at Wharton and working on projects. He then took up top executive positions before investing in real estate and establishing multiple businesses. This enabled him to prioritize spending time with loved ones. Mehdi believes in long-term planning and balancing work, entrepreneurship, and lifestyle.
[10:30] From Corporate Conformity to Entrepreneurial Freedom Mehdi is an entrepreneur who bought a 27-unit building while working a big company job. He advises colleagues to consider alternative opportunities, like investing in syndications or learning from different people, rather than just settling for a W2 job. He believes that taking calculated risks and exploring options can lead to success, even if it means facing the fear of job loss.
[14:50] Why Being a Risk-Taker is Essential for Entrepreneurial GrowthCody and Pasha stress calculated risks, research, and knowing variables when taking risks. Cody believes entrepreneurship is safer than traditional jobs due to job market instability and Mehdi agrees, emphasizing its greater impact.
[21:15] Optional: Intentionality and vision boards, design the life you want
Mehdi advises entrepreneurs to avoid job stagnation and fear of job loss. He suggests having a clear vision, taking calculated risks, and building positive connections for success. To enjoy the journey, create a 10-year plan, be proactive, and design your life. Mehdi's benefits, like living near his children's school and the beach, are the result of deliberate planning.
[27:00] Balancing Family, Lifestyle, and BusinessPasha asks how Mehdi balances multiple businesses with family and lifestyle. Mehdi manages by overseeing all areas, while others handle specific tasks, and by building teams and relationships with like-minded individuals who complement his skills.
[29:45] Benefits of quitting alcohol: Mehdi stopped drinking after a coach's suggestion and Pasha's challenge. He prefers a healthier lifestyle, avoiding coffee and sodas. Pasha and Mehdi trained themselves to be extroverted when needed. Cody still drinks occasionally. They focus on the benefits of not drinking, like having more energy, and finding ways to be funny without alcohol.
[38:35] Creating Lasting Memories with Loved OnesMehdi emphasizes the importance of prioritizing relationships and spending quality time with loved ones. He puts his phone in sleep mode from 6 pm to 8 pm daily to focus on his children. He plans to travel with his family to Europe for meaningful experiences, inspired by Cody.
Discover the secrets behind Kevin Mills, a large real estate agent in the world, as he shares his strategies with Cody and Pasha. Learn how he created a database of over 80,000 contacts by talking to almost 100 people a day, building strong relationships and delivering valuable content. With a genuine personality and a vision for growth, Kevin emphasizes the importance of prioritizing relationships with people who contribute to our lives. Gain insight on how to do this systematically and intentionally while balancing even the busiest routines. Join the conversation among entrepreneurs and find a human touch to ambition and aspiration for growth.Here are some power takeaways from today’s conversation:- Building a powerful database by nurturing leads- Benefits on working with only sellers in real estate- Pick asset expertise over market expertise- How to enter into new markets? - Get resources from sharing your vision Episode Highlights:[02:15] Kevin Mills: Don´t apply a finite outcome to an infinite game like a businessAt the age of 31, Kevin Mills became the best realtor in the world. However, he doesn't believe in setting finite goals, as there is always a sense of finality attached to them. Instead, he recommends aspiring towards non-finite goals. Creating a business is a non-finite goal, as there is no end, and one never knows when to stop, but rather, it's a journey that should be enjoyed as one progresses.[09:08] Asset Expertise vs Market Expertise: Kevin Mills' Approach to Entering New MarketsKevin shares his belief that asset expertise is more valuable than market expertise. He explains that when entering a new market, he seeks out the owners of all the assets and builds genuine connections with them. His goal is always to pour into people and he has successfully formed valuable contacts that have given him access to valuable resources like courier services and finance advice. Kevin has many strategies for building strong connections and achieving success in the real estate industry.[14:20] Keys to Building Relationships and Trust in NegotiationsKevin Mills shares effective strategies to establish trust with his contacts during negotiations. He emphasizes the importance of powerful conversations where he communicates his vision and considers the client's perspective, whether they are a young ambitious individual or an adult looking to create a legacy. Additionally, Kevin recognizes the significance of the client's personal relationships and strives to build a positive impact on the people who matter to them. He also pays attention to the client's personality type, whether they prefer an analytical approach or a more conversational one, to tailor his communication style accordingly. Through these efforts, Kevin has successfully closed many deals and accomplished his business objectives.[17:31] Why Being True to Yourself is KeyKevin talks about how spending time alone in his childhood gave him the chance to think about his preferences and values. As he grew older, he realized the importance of being true to oneself, rather than trying to please everyone. He prefers to surround himself with people who accept him for who he is, rather than putting on a facade to fit in. Kevin's source of motivation is simply doing what he finds enjoyable, without seeking validation from others.[25:00] Top friends listsIn this part of the video, they discuss how making a list of your most significant friendships can be helpful, as it allows you to see which aspects of those friendships you value the most. Surrounding yourself with supportive people is necessary for personal growth. Additionally, organizing your interactions with friends according to the ranking they hold in your top friends list allows you to maintain those relationships without clashing with your daily routine or work obligations. Having a list of friends can truly help keep all your relationships in good condition, and this method is simply brilliant.
In this episode of the Road to 100 Podcast, Cody and Pasha talk with Brian Beers about buying and scaling a family-franchised auto repair business into an enterprise with +30 locations and generating $40 million in sales per year. Brian Beers is a successful entrepreneur who is on a mission to teach people how to create freedom and build wealth by owning franchises. In today's episode, he shares a lot more about his path, experiences, and wisdom for those who want to learn more about this business model.Here are some power takeaways from today’s conversation:
- Overcoming self limiting beliefs to scale
- Delegating/replacing yourself
- The importance of networking for growth
- How to scale a franchise?
- How to find the right franchise?
- Why franchising is a great asset to generate cash flow + build wealth?
Episode Highlights:
[01:15] Growing a Franchise family business with Brian Beers
At 35 years old, Brian Beers operates 30 automotive repair franchises and generates $40 million in sales per year. It all started as a family business with his dad and his uncle in the 1970s, with just six locations. Brian joined the business after college in 2010, and even though he knew nothing about cars, he started learning a lot about the business. After earning experience, in 2016, he and his brother got a bank loan and bought 2 locations that they owned 50/50, and after that, it's all been about growing, acquiring, and opening new locations.
[09:42:23] Delegating/replacing yourself
Fire yourself as fast as possible; there are 8 billion peo3ple on the planet, and there are a lot more people who are better at whatever you are doing than you are, so just get yourself out of the way to scale and get human capital on that task.
[17:35:12] What separates a good franchise from a bad franchise?
There are 3,000 franchises in the US, which means that 250 new ones open every year. That's why choosing the right one to invest in becomes a common challenge that comes to mind for those who start this journey. Running a franchise business model requires special focus on the vision, development, training, support, marketing, and selling. It's a pretty special business model, so in order to identify which franchises are good options, it's important to network, learn from people with experience, and always question if the franchise you are interested in is growing its support in parallel with the new locations opened.
[30:53:23] Franchises as an asset allocation?
The main concern you should have if you want to purely see it as an investment is that if you are going to invest in a franchise without an operator, it simply won't work out. Don't forget that a lot of these businesses are highly dependent on the average, which is why Brian's recommendation is to get someone as a franchisee instead of doing it all on your own. That way, you can be more focused on funding that person and at the same time scaling the whole franchise business with your vision.
Resources Mentioned:
https://www.brianbeers.com/
One of the biggest challenges entrepreneurs have on their Road to 100 is that they have to face uncertainty all the time. Waking up each morning with new problems to solve, but with the necessary energy and motivation to make things really work is truly admirable. Today our hosts dig deep into the mindset of a successful entrepreneur that has grown a large business, but still has a great lifestyle focused on health, family, and happiness.
In this episode, Pasha and Cody talk with Adrian Accay. Adrian is an entrepreneur, business owner and real estate investor that is really crushing it on all levels. In this episode our hosts talk with him about growing a pharmacy business with many locations throughout the city of Philadelphia, maintaining the right entrepreneurial mindset, how to be more productive, taking care of a family and many other important topics that we know will help anyone (entrepreneur or not) to live a happier and healthier life.
Cody and Pasha discuss the vulnerabilities in the banking system, the recent bank runs, and the consequences for the economy.
In this episode, they discuss the complexities of rising interest rates, and the challenges of an increasingly indebted nation. But more importantly, given that no one can control external forces, Pasha and Cody discuss investor temperament, remaining rational in the face of fear, and how to capitalize on distress and volatility.
Tune in as they share valuable advice on safeguarding your investments and thriving in a turbulent financial climate.
Here are some power takeaways from today’s conversation:
- Recent bank runs and what caused them
- The potential consequences of regional bank failures on the overall economy
- Investor temperament and how this is a critical factor in investor success
- Maintaining rational decision making in the face of uncertainty and fear
- Hard assets as a safety net during economic uncertainty
- Being conservatively aggressive and taking advantage of volatility
Episode Highlights:
[01:35] Bank Collapses and Financial Landscape
Cody and Pasha examine recent bank collapses, their effects on the financial landscape, and the impact of rising interest rates on banks' balance sheets. They discuss whether these banks are outliers or representatives of standard practices. They also go over the consequences of Federal Reserve bailouts.
[18:23] Rising Interest Rates and Debt Challenges
The topic turns to the possibility of the U.S. facing challenges similar to Japan's. Increasing interest rates cause significant issues. As countries become more indebted, handling high-interest rates becomes harder. Rapidly rising interest rates further complicate market adjustments.
[37:53] Emotional Management and Investment Strategies
Routines and reflection help with managing emotions and making informed decisions. Stay calm, rational, and focused despite negative news or external events. Blocking out negativity without ignoring reality prevents fear and greed from becoming the main drivers of your decision-making.
[41:13] Seizing Opportunities in Uncertainty
In uncertain times, opportunities arise. The hosts promote a “conservatively aggressive” approach: utilizing real estate resources, raising funds, and identifying market prospects. They’re optimistic about the real estate market until 2024 and seek “spot distress” situations.
[55:20] Market Expectations and Focus
The conversation concludes by acknowledging that the current market differs from the 2006-2008 financial crisis, but good opportunities still exist. They emphasize maintaining the right mindset, executing business plans, and avoiding distractions. Instead of relying on hope, they advise making data-driven decisions and considering potential setbacks.
Resources Mentioned:
Fed Funds Futures
The Wall Street Journal: Commercial Property Debt Creates More Bank Worries
Pasha and Cody sit down with friend and Internet marketing extraordinaire, Talor Zamir. Talor has had great successes in short sales, internet entrepreneurship, and business endeavors, but a big health scare made him reexamine his priorities. Now, he’s passionate about developing his health journey and helping others do the same, all while making time for his wonderful family. Check out his conversation with Pasha and Cody.
Here are some takeaways from today’s conversation:
- Taking control of your health is vital
- Prioritizing your goals and your dreams leads to success
- Making time for family is essential
- Focus on what gives you energy, not what takes it away
Episode Highlights:
[03:35] You Are What You Eat
Talor talks about his health scare and how reshifting his priorities has made him feel the best he’s ever felt. As he researched how to get better, he really wanted to focus on the source of the problem, which was inflammation. In all the information he discovered, he found that inflammation is the root cause of what makes people feel terrible. After changing his diet and being mindful about what he puts in his body, he was able to heal.
[10:00] Taking Time to Think
Talor made a lot of pivots in life and in his career. From working on Wall Street to short sales to product launching to Internet marketing, he’s worn a lot of hats in his life and been successful at almost all of them. This is because he takes time to prioritize his thoughts and wants. Every morning Monday-Friday, he spends 30-60 minutes thinking about his life and goals over coffee to make sure he’s going in the direction he wants.
[27:05] Distilling Down What You Really Want
His many successes opened up lots of opportunities, but in the end he always needed to ask himself, “Is this what I really want?” Owning his own marketing agency could be great, but wouldn’t allow him the freedom he wanted. To make money and still have some freedom to be a family man, he needed to get creative and get honest with himself.
There’s no better way to experience gratitude for our wonderful opportunities in this country than to learn from immigrants who came to this country, built a life and a business, and fulfilled the American Dream.
In today’s episode, Pasha and Cody talk with real estate investor Claude Condo about his inspiring story and the difficult steps he took to build a massively successful life after coming to America with literally $100 in his pocket. From buying pharmacies to investing in medical triple net real estate , Claude has been crushing it and is one of the most charitable businessmen and investors we’ve interviewed. In today’s conversation, Pasha, Cody, and Claude dive deep into perseverance against all odds and spreading the results to those who need it most after you’ve made it. .
Here are some takeaways from today’s conversation:
- The power of persistence, grit, and finding opportunity
- Painful setbacks can make you search deep within yourself for the drive to move forward
- The lessons of gratitude for hard times, not inspite of hard times
- The power of faith
- An amazing giveback opportunity through Claude’s foundation
Episode Highlights:
[03:05] Challenging Beginnings
Claude chats about Rwanda’s current circumstances and how his organization offers hope for kids who have it rough. He also shares about his experience growing up in Rwanda and the neighboring Republic of the Congo. The death and destruction the country experienced pushed Claude to go to school and become a pharmacist. His career brought him to the United States where the rest is history.
[19:10] Dark Times in America
Upon arriving in America, a big misunderstanding left Claude in solitary confinement for weeks. The solitude was extremely difficult and tested his strength and his faith. Finally, after going before an American judge, Claude was absolved and given full legal rights to remain in the States.
[32:31] Opportunities Arise
Despite being a qualified pharmacist, Claude was doing a backbreaking job to make ends meet. A coworker who knew some of his story gave him the means to make a better future for himself with his valuable skills. After hundreds of calls, he finally had the chance to prove himself, eventually learning how to run his own pharmacy.
Imagine working for years to have an exit and then taking nearly all of your proceeds and doubling down on your next venture.
In today’s episode, Pasha and Cody talk with Tom Breitling about his experience building a massive business and then parlaying that exit into purchasing the Golden Nugget in downtown Las Vegas. Though he and his business partner, Tom Poster had no experience owning casinos and faced a lot of red tape from all directions, they still took a leap of faith and placed a huge bet on themselves. From there, they became the youngest (and most successful) casino owners and operators in the state of Nevada. In this episode we talk about Tom’s massive wins and losses on his entrepreneurial path.
Here are some power takeaways from today’s conversation:
- The best bets you make are ones you make on yourself
- Having skin in the game
- Overcoming and conquering failure
- Knowing your market and industry protects your downside
- What drives Tom and entrepreneurial spirit
Episode Highlights:
[13:45] Don’t Hesitate to Bet on Yourself
Breitling and Poster started their success with a previous business venture in technology, but jumping into hotels and casinos was a whole new ballgame. They faced a lot of challenges along the way and had to be fully invested in their vision and in themselves in order to be successful. They had to impress the banks, the sellers, the patrons, and the whole industry that they had what it takes to take the casino to the next level.
[19:28] Buffer the Cash Flow
When Breitling and Poster bought the hotel and casino, they needed to come up with ways to improve cash flow. First, they gradually increased the room rates over a two-year period. Then, they started booking some quality entertainment and focusing heavily on the younger crowds. This increased the number of visitors and also increased awareness. Thinking outside the box is what will set your commercial property up for success.
[32:31] Entrepreneurial Failures Are Not the End
After betting on the hotel, Breitling made a bet on another company that ultimately failed. The experience was extremely hard on him, but didn’t deter his entrepreneurial spirit. The failed venture taught him the importance of taking risks, of surrounding himself with knowledgeable people, and to believe in well-researched visions of success.
Resources Mentioned:
Double or Nothing: How Two Friends Risked It All to Buy One of Las Vegas' Legendary Casinos
Over the years, stem cell medicine has totally evolved, doing wonders in reversing the effects of aging and in the treatment of orthopedic pains. In fact, it now offers new hope for patients with other serious ailments such as heart disease.
In today’s episode, Pasha and Cody talk with Dr. Harry Adelson all about stem cell medicine and how it can optimize our lives. At the forefront of stem cell medicine, Dr. Adelson’s full-body stem cell makeover involves treating every moving part of the musculoskeletal system, making it the most comprehensive stem cell upgrade ever conceived.
Here are some power takeaways from today’s conversation:
- What stem cells are
- Why stem cells are more expensive in the U.S. than in South America
- The effect of stem cells on longevity and reversed aging
- How long the effect of stem cells lasts
- Other uses of stem cells
- The future of stem cells
- How ozone therapy works
- The full-body stem cell makeover
Episode Highlights:
[10:23] What Are Stem Cells?
Stem cells exist in all tissues of our bodies, responsible for maintaining the health of their microenvironment. When you have an injury of any sort, the stem cells are responsible for the healing response. The vast majority of Harry's experience is using stem cells from people's own bodies. These are stem cells from the bone marrow combined with cells from the fat and combined with new, very small embryonic-like stem cells that have been recently discovered in the blood.
[14:07] The Effect of Stem Cells on Aging
The only thing that has been proven to reverse aging is large doses of stem cells. A landmark study conducted by Joshua Hare and two other researchers found that people who got 100 million stem cells reversed all six of the categories of frailty associated with aging. Interestingly, when they did doses of 200 million, it didn't work as well as it did with the 100 million.
[17:48] How Long the Effect of Stem Cells Lasts
Dr. Adelson expects to hear back from his patients anywhere from two to eight years, and an average of four or five years. Stem cell treatment doesn’t work the same for everybody. While about 20% of the people he has treated at the one-year mark showed significant improvement, there is about 10% to 12% of the people they treat where the stem cells don't help at all.
[19:03] Other Uses of Stem Cells
Stem cells have been used for the treatment of back pain, joint pain, and neck pain. It can also be used on the skin of the face to improve the elasticity and hydration of the skin. Stem cells can be used for the scalp to thicken the hair follicles. It won't cause you to grow new hair, but it cuts down the amount of gray hair in half. Stem cells can also help treat erectile dysfunction and improve the elasticity of the vaginal walls.
Resources Mentioned:
Docere Clinics
Stym Clinics
Mesenchymal Stem Cell Therapy for Aging Frailty
Life Force by Tony Robbins
Not all deals or sponsors are built the same. If you’re looking to maximize the benefits and returns of private alternative investments, doing due diligence yourself is crucial. This is the perfect primer on how to vet deals and give yourself the best chance at making good returns.
In today’s conversation, Pasha Esfandiary and Cody Littlewood chat with Hans Box, co-founder of real estate investment and private equity firm, Box Wilson Equity. Hans has deep expertise in passive and active investing. Learn what to look for when vetting deals and finding the value add component in every deal.
Here are some power takeaways from today’s conversation:
- War stories about deals that didn’t work out
- What to look for when vetting a deal
- Finding the value-add proposition in the deal
- What to look for in value-add
- The importance of trust in sponsors
- What to look for in your sponsors
- How to align incentives
Episode Highlights:
[13:24] What to Look For When Vetting a Deal
The first step to vetting a deal is to vet your sponsor. Look into who they are and what their track record is. They have to be 100% transparent. You also have to ask questions on things that you need more clarity on. How they respond is also very critical. Are they quick to respond? Are their answers clear or do they beat around the bush? Play with a sponsor that's in it for the long game.
You also don't want to invest in a deal that they're not investing their own money in because that tells you that either they're not successful enough to have enough money to invest in their own deal, or they've got a better place to put their money than their own deal.
[28:06] What to Look for in a Value-Add
When you're looking for value-add, there needs to be some way to increase income from the current, or historical operating P&L (profit and loss) of the property, to now. Typically, the way to increase income is by raising the rent. Another way is to buy properties that are already under market that you don’t even have to do upgrades.
[38:15] The Importance of Trust in Your Operators
People can make their numbers look really good. This is why you have to ask questions about their entry cap rate and exit cap rate, or how they're financing. You have to see that they have a plan and they're being conservative.
[55:18] Other Things to Look For in Sponsors
Look for longer-term strategy players that are there for the long haul. A lot of sponsors make a ton of money on compressing cap rates or flipping properties without doing much. If you're investing in a long-duration asset, you also have to have a long-duration strategy. Finally, if you see a deal and get really excited about it, and then you see some red flags, just let it go. There will always be deals out there, so be patient.
Resources Mentioned:
Box Wilson Equity
Email: hbox@boxwilson.com
Mastermind groups are growing and becoming more and more popular – and there’s one common denominator among all of them: authentic human connection. Coming from a retreat with 20 other powerful men, Pasha and Cody share their experience, some lessons they've gleaned from the mastermind event, and how you can incorporate them into your life.
Here are some power takeaways from today’s conversation:
- The value of having a network you can connect with authentically
- Turning mimetic theory into something good
- Weeding out the people you let into your life
- Highlights from the mastermind event
- The story of the horsemen who saved the horses
- Living by the “cowboy code” and translating it into your own life
Episode Highlights:
[05:00] The Value of Community
Magic happens in smaller communities where you can get deep with others at a core level. As humans, we're always looking for connection and authentic relationships where we can let go of the facade that we put up. However, a lot of entrepreneurs tend to create a shell around them and a world where they're just so driven that they’re not able to connect authentically. This is why mastermind groups are now growing because they are desperately looking for authentic connections.
[10:05] Turning Mimetic Theory Into Something Good
Mimetic theory is when you're driven towards material pursuits. But it can be used for good, especially when modeling great behavior. It’s not about the house you own or the car in your garage, but about building good habits and taking care of your health and your family. Surround yourself with people who will push you, inspire you, and hold you accountable.
[15:03] Choosing Your Inner Circle
You can always be friends with someone. But at the end of the day, where do you want to spend your energy? Sometimes, you have to weed people out of your life if they no longer align with you or your values. And you will always feel that disconnect. In order to do that, you have to know what you want to create in your life. This is not just about cutting off people black and white, but understanding where you want to go, what you enjoy, and what inspires you.
[22:38] Pasha and Cody’s Highlights From the Mastermind Group
- Practical tips and resources for areas that you’re not as good at, whether it’s in business, relationships, or personal life
- Great camaraderie and healthy competition
- Getting inspiration from others to get better in every facet of life
- Raising $40,000 for the Condo Foundation
[35:10] The Cowboy Code
- Live each day with courage.
- Take pride in your work.
- Always finish what you started.
- Do what has to be done.
- Be tough, but fair.
- When you make a promise, keep it.
- Ride for the brand. That means loyalty to your company. Never go behind their back.
- Talk less and say more.
- Remember that some things aren't for sale.
- Know where to draw the line.
Resources Mentioned:
Condo Foundation
Faced with constant phone notifications, emails, zoom meetings, and 24 hours news, it’s difficult to find signal through the noise. In today’s episode, join Pasha Esfandiary and Cody Littlewood as they discuss the value of resetting your life through travel and digital minimalism. Have a look into their goals for 2023, both in business and personal life, and what they think is up ahead in the multifamily and mobile home markets.
Here are some power takeaways from today’s conversation:
- Resetting mindset and focus with travel
- Finding signal through noise and digital minimalism
- Intentionally getting out of the minutia
- Their business and personal goals this year
- Their outlook for multifamily real estate and the mobile home space
Episode Highlights:
[09:30] Travel Resets Your Life
Travel is an awesome way to reset your life. Stepping away from your normal environment and out of your everyday life gives you a fresher perspective. Kids also grow up well-grounded when you can let them connect to nature. When you’re traveling and you’re outside of work, you have more time to read, journal, or do the things that excite you. Try going to a place where you’re in a different time zone and see what it feels like to have mornings that are free from all the emails and calls. Being able to do the deep inner work helps you gain clarity that will benefit you, the people around you, and your business.
[24:48] Get Out of the Minutia
It’s important to have that time when you’re able to go away and have that thinking time for yourself, even if that’s just two or three days that you can disconnect from the phone. Otherwise, if you’re caught up in the minutia every single time, it’s easy to make poor and rash decisions.
[45:24] Outlook for Multifamily Real Estate
Cody thinks there are a lot of short-term challenges on the horizon. But over the long term, the fundamentals are there in the multifamily space. Household formation is going to be massively slow in the face of a recession and we're going to have higher rates, even in the face of a slowing economy. But at the end of the day, people always need housing and shelter. You can probably expect to see some softness in rents. Arguably, Cody thinks there are probably some spots of distress but there's also rescue capital available and a lot of capital waiting on the sidelines.
[50:58] Outlook for the Mobile Home Space
Pasha is still 5% across their portfolio of average medium income to what their lot rents are, which is good. There is space to grow. The challenge, however, is finding deals. He's also seeing how slowly sellers are starting to get creative with their financing, and are willing to do more seller financing.
Cody doesn't think we should be making short-duration bets on long-duration assets. Instead, hold for long periods of time and stick to those good fundamentals.
Resources Mentioned:
Digital Minimalism by Cal Newport
Deep Work by Cal Newport
Maybe you’ve always wanted to stand on the peak of the highest summit, surf on the Pacific, or travel to your dream destination with your family. Have you written these goals down? 90% of people haven’t written down their bucket list let alone checked much of it off.
In today’s conversation, Pasha Esfandiary and Cody Littlewood talk with Trav Bell, aka The Bucket List Guy, about how you can start your bucket list, pursue your passions, the concept of work/life blend, and how to live a more fulfilling life.
Here are some power takeaways from today’s conversation:
- Building your personal brand identity
- How to position yourself to grow your brand
- Living an aligned life
- Pursuing work/life blend vs. work/life balance
- The shared experience that comes from ticking your bucket list
- The power of being present in each experience
Episode Highlights:
[23:59] How to Position Yourself to Grow Your Brand
In the book, Happier by Tal Ben-Shahar, he talks about the MPS process represented in a Venn diagram where each of the circle asks these three critical questions, respectively:
- What gives you pleasure?
- What gives you meaning?
- What are your strengths?
Then at the center of those three circles, you will find your calling. At the end of the day, your values serve as your internal rulebook. Trav suggests writing down your top five values and figuring out whether you’re living those out in the world.
[30:27] Creating Your Own Bucket List
A bucket list is a tangible life plan where your career planning and your business plan should fit into your life plan and not the other way around so it brings home this "work to live" principle. Trav thinks there’s no such thing as work/life balance. Instead, it’s about the work/life blend. He also suggests writing down your bucket list, then just worrying about the what and the why, not about the how. Unfortunately, people don't write down their goals and bucket list because of fear of failure and disappointment.
The bucket list isn't just about the ticks of achievement, but about how you reverse-engineer every aspect of your life so your goals and dreams come to fruition. Ultimately, it's about the person that exists on the other side of your bucket list. Having that shared experience is what gives your bucket list meaning and purpose.
[50:14] Being Present in Each Experience
When traveling, it’s about experiencing the journey and being present in each moment rather than posting selfies on social media that no one even cares about. When you do things, do things out of passion, and not just for the gram.
Resources Mentioned:
The Bucket List Guy
Trav’s book, My Bucket List Blueprint
Trav’s TEDTalk: www.youtube.com/watch?v=GImTk0BzBhM
The E-Myth by Michael E. Gerber
The 4-Hour Workweek by Tim Ferriss
The Almanack Of Naval Ravikant by Eric Jorgenson
Happier by Tal Ben-Shahar
Digital Minimalism by Cal Newport
Inflation and interest rate hikes made for a difficult 2022. A recession may be inevitable in 2023. As a business owner or an investor, how do you mitigate that? Do you stop allocating all together? How do you earn positive returns
In this conversation, join Pasha Esfandiary and Cody Littlewood as they chat with Kevin Gray of Veracity Capital and formerly Goldman Sachs about what 2023 can hold and some trends you need to watch out for in this new year. Especially if you’re a first-generation wealth creator, learn how you can begin creating a legacy for your family outside of your main business or investment class!
Here are some powerful takeaways from today’s conversation:
- The biggest weakness of business owners
- The role of a financial advisor
- The role of the Fed and what that means to you
- Where to focus your allocations this year
- Their vetting process for hedge funds and sponsors
- What the future holds
- Exercise due diligence
Episode Highlights:
[11:09] The Biggest Weakness of Business Owners
Many business owners invest everything into their business because that’s how they’ve grown it. They throw everything into their business and they don’t invest elsewhere at all. But the right investment advisor and wealth manager can allow you to focus on what you’re great at while they work on your behalf at what they’re great at. Utilizing outside firms to handle a chunk of your capital can take the emotion out of it, give you access to hedge funds and alternatives you wouldn’t otherwise have, and boost your returns considerably.
[17:04] The Fed
The role of the Fed right now is to slow down the economy. And it’s working, and they will do that until interest rates get, or inflation gets, near about 2%. And so, until they get to that point, they're going to attempt to slow down the economy in order to get there.
[21:40] Where to Focus Your Allocations This Year
Because of the volatility, Kevin warns that you have to be prepared, and particularly focus on credit markets in the new year. Whether it’s private lending, high-yield bonds, or international bonds, the performance is going to be in the credit space since interest rates are very high and they're moving up comparatively over the last decade. Hedge funds are also going to be beneficial if you add them to your portfolio even though they’ve had a muted return during this enormously long bull market. There’s also a great opportunity in real estate with conservative operators and good markets.
[48:11] What the Future Holds
We had the safest currency or the safest reserve in the world. At some point, it can look like that’s no longer the case given our debt burden. But it's all relative. As the U.S. dollar quits running away and begins to weeken, that's when the international market starts looking really good again. Compared to the rest of the world, if the country can keep up, everything is going to be rosy. Equities don't go away, only reduced. Kevin is looking more and more at the private space. And if your money's locked up, and you're getting close to nothing on it anyway, private equity and other illiquid investments may be a great opportunity going forward.
Resources Mentioned:
Veracity Capital
Email: kevingray@veracitycapital.com
iCapital
Feeling great, having a clear and focused mind, and having sustained energy throughout the day will help you achieve greatness in other areas of your life. But building habits can be hard, and sticking to those habits can be harder. How do you build the habits and keep the consistency so your short-term behavior change will turn into a long-term lifestyle change?
In today’s episode, Pasha Esfandiary and Cody Littlewood are delighted to welcome their health coach and mentor, Ryan Kennedy, as they go deep into the conversation around developing and sustaining habits, key deficiencies that nearly all men suffer from, and some biohacks to level up all aspects of your life for the long term.
Here are some power takeaways from today’s conversation:
- Ryan’s pain-to-purpose journey
- How long it takes to create a habit
- Why habit stacking is so powerful
- The cause behind the global trend of shrinking sperm count
- Biohacks to improve your testosterone
- The importance of sun exposure and optimizing your sleep
- The right way to do intermittent fasting
- Getting out of the all-or-nothing mindset
Episode Highlights:
[06:44] The Value of a Coach
Living a sustainable healthy lifestyle all boils down to these things: time efficiency, structure and accountability, and having a daily plan. Direction gives people clarity. Finally, having a coach is a total game-changer, especially in those moments of low motivation or low discipline because they help you build habits and develop consistency.
[11:00] How Long It Takes to Form a Habit
Ryan says it takes a good three months for a habit to form, although this may vary from person to person. The idea of habit stacking is to pick one or two really important habits that you want to create now and focus on them before moving to the next habit. Building your habits systematically and incrementally completely changes the paradigm.
[18:19] Biohacks for Improving Your Testosterone
What kills a lot of testosterone is a combination of things such as lack of sun exposure, poor sleep, poor nutrition, and exposure to environmental chemicals found in personal care products and household cleaning materials. Therefore, focus on exercise, quality sleep, nutrition, and sun exposure. If you don't have access to the sun, get a red light device that can help mimic some of the benefits we get from sun exposure.
[41:13] Things to Consider When Intermittent Fasting
Intermittent fasting is having a compressed eating window that's over 12 hours, and ideally, over 14 or 15 hours, and then only eating during that set time. Ryan doesn’t recommend pushing it back into the evenings because it can lead to poor digestion, especially when you’re eating too close to bedtime. Instead of your energy going towards recovery, rejuvenation, and detoxification, it now has to focus on digestion that results in increased resting heart rate and poor sleep quality.
[52:19] Hacks for Better Sleep
Get outside for at least 10 minutes to soak in that natural light. This anchors your circadian rhythm and sets the stage for you to sleep better that night. On the flip side, try not to expose yourself to too many artificial lights late in the evenings because that suppresses your melatonin production. Then couple deep stretching with deep breathing.
Resources Mentioned:
ryankennedyhealth.com
The Ryan Kennedy Show
Why We Sleep by Matthew Walker
Skin in the Game by Nassim Taleb
In this episode we dive into two of our biggest lessons from 2022: Gratitude and Mimetic Theory.
Ever heard of the mimetic theory? Simply put, it’s a theory from Rene Girard that most human desire is not based on the physical attributes of an object, but on its metaphysical attributes. That is to say that most human desire is based on what the object causes us to be or what it says about us more than the improvement in utility, pleasure, or experience.
Join Pasha Esfandiary and Cody Littlewood as they dive deep into the topic of mimetic theory and how it actually coincides with gratitude.
As we enter a new year, this is the best time to be asking some hard questions of yourself. Where are your desires coming from? Do you want something because of the utility, pleasure, or benefits it provides? Or do you want it because of what it says about you? It can be the difference between permanent serotonin improvements and quickly fleeting dopamine hits. Finally, how does gratitude play a role in all this?
Here are some power takeaways from today’s conversation:
- Gratitude is a present emotion
- Reducing anxiety as an entrepreneur
- When your most hard times become the best times of your life
- How Pasha used affirmations to get out of depression
- Mimetic theory and some real-life examples
- Environment vs. free will
Episode Highlights:
[12:02] Gratitude: The Antidote to Depression and Anxiety
Gratitude is a present emotion. When you’re grateful, it’s hard for anxiety and depression to slip in because you’re not thinking of the past or the future. You’re simply in the moment. When you’re grateful, you’re focusing on the positive. And whatever you focus on is what you will attract. The more focused you are on gratitude, the more you attract the positive things in life.
When you’re grateful, you realize that all the hardships in your life actually are the best times in your life. When you focus on gratitude, you will also notice that you will have fewer desires or wants because you’re a lot more at peace with what you have.
[25:41] The Mimetic Theory
Most human desire is not based on the physical attributes of an object, but it's based on the metaphysical attributes of something. In other words, your desire is not based on the actual object, but on the modeling of somebody else's desire for that object. You’re more focused on what it says about you. This theory goes so deep into every one of our desires that it drives social media usage and consumer debt. It drives envy for people who are doing better than us.
The goal is to be able to think clearly and independently. Sometimes that will mean you're with the crowd, but sometimes it'll mean that you're against it. And when you're thinking independently, you become more connected with yourself and more in touch with what you actually desire.
Resources Mentioned:
Lecture 1: Introduction to Mimetic Theory
Deep Work by Cal Newport
Loveable by Kelly Flanagan
There are so many hats that we wear as business owners. And at times, it's not for the faint of heart. Whether you're a real estate investor or new to real estate, an intermediate or an expert, there's always another level to go to. But how do you go to the next level? Well, if you truly want to go further, faster, then think about hiring a performance coach. In today’s episode, Pasha Esfandiary and Cody Littlewood speak with high performance coach Trevor McGregor as he lays out the five reasons you should hire one or the five reasons people fail to scale.
Here are some power takeaways from today’s conversation:
- How Trevor got into coaching
- How your passion and energy show up in the 4 S's
- Clearing out your limiting beliefs and creating a strategic plan
- The law of polarity and setting your ABC goals
- Creating robust systems for support
- The rule of 168 and the four D’s in time management
- Taking an inventory of yourself
Episode Highlights:
[09:39] How Your Passion and Energy Show Up in The 4 S's
Your passion and energy will show up in 4 S’s. First is your state, where everything boils down to. Either you're in a bad state, or in a good state. The second S is your story, which is your identity. Once you’re in a good state and you’re owning your story, check in with your standards. How you do anything is how you do everything. You can tell the quality of somebody's ability to go forward by the standards they hold themselves to. Finally, the last S is for strategy. That's how you are going to move from where you are to where you truly want to be.
[15:36] Clearing Out Limiting Beliefs
Limiting beliefs are designed to keep us safe and protect us. A high performance coach will help you clear out the cobwebs and get rid of anything that is an old story, belief or paradigm that can hold you back from skyrocketing the results. You start seeing through a new lens or hear through a new set of headphones, or feel with a different set of fingertips in terms of what's possible.
[19:30] Creating a Strategic Plan
High performance coaches look at what you’re trying to achieve – short-term and long-term. Short-term is anything from now till about a year out. Long-term can be about one year to five years. And then anything beyond that is a vision for your business and your life.
[40:40] Creating Systems for Support and Developing Time Management Skills
Are you creating systems to support your company? Are you defining roles and responsibilities? Do you have partners? Are you leveraging technology to help you go further faster? This is not about setting a system in place one time, and then it breaks, but robust systems that you can use over and over again.
You can tell the quality of an investor or a business man's ability to scale by where they spend their time. We've all got 168 hours a week. We sleep for some of those hours, we eat, pay the bills, play with the kids, etc. But what are you doing with the rest of your time? The 4 D's in time management are: do, delegate, delay, and dump.
Resources Mentioned:
www.trevormcgregor.com
Trevor’s podcast: www.trevormcgregor.com/podcast
Getting to your next $10 million takes persistence – and a strong network that can help you raise your capital too. But how do you do that?
In today’s episode, Pasha Esfandiary and Cody Littlewood chat with real estate investor Tom Burns, who shares his journey from being an orthopedic surgeon to growing a private equity firm that has grown to 3,500 units. Tom has nearly three decades of real estate experience and has developed over half a billion dollars of real estate locally and internationally. Tom is also the author of Why Doctors Don’t Get Rich, a bestselling personal finance book for medical professionals.
Tom is the co-founder and principal of Presario Ventures, a private equity firm that focuses on apartment development. He is also the founder of Rich.Life, a mastermind group that helps people accelerate their wealth and connect with others.
Here are some power takeaways from today’s conversation:
- Why he chose to invest in real estate
- The decision to pursue real estate investing full-time
- What he could have done differently
- What to look for in a partner
- How to raise capital
- About Tom’s mastermind group
- His experience owning a ranch in Africa
Episode Highlights:
[22:19] Growing Your Pool of Investors
The bigger your pool of investors, the more confidence you have to grow. As your check sizes grow, your options increase and you can buy portfolios. For Tom, the biggest secret is persistence, and that persistence and time can make you a star every time.
[28:49] What to Look For in a Partner
Find a partner you can leave your checkbook and your family with. You don't have to agree on everything but at some point, you have to come to a resolution. A good partner is humble enough to be a part of a team and you want somebody you can trust.
When you're going to invest with somebody, try to check their track record. What’s best is if you've got somebody you really trust that knows them and who can vouch for them. It doesn't guarantee success, but at least, it guarantees you a partner that's going to stick with you when times get bad.
[33:41] How to Raise Capital
One way of raising money is to use other people's money, particularly debt. But for equity, if you're bringing in money, you can increase your network, which does a lot of things for you. It gives you education and it helps you socialize. It helps you find deals to get into and invest with as well as find investors.
As you’re bringing in investors, there’s that stigma that you’re only taking other people’s money. But you’ve got to change that mindset and see that as an opportunity you’re actually sharing with them. There are a lot of people who have money and want to make their money grow. The problem is they don’t have the time and your job is to solve their problem by using your expertise and network to grow their money.
That being said, you've got a giant responsibility when you take somebody else's money. And if you're ready for that responsibility, and you’ve got the integrity, transparency, network, and the team to do that, then start raising small and start helping some people out.
Resources Mentioned:
rich.life
Presario Ventures
Why Doctors Don’t Get Rich
Rich Dad Poor Dad
Don't go chasing what everyone else is doing. Go find that niche that no one else is doing. And if you’re looking to start an eCommerce business, you know it’s going to be good when you can’t find them at Walmart.
In today’s discussion, corporate lawyer turned e-Commerce business owner Dan Nunney joins Pasha Esfandiary and Cody Littlewood to talk about how he was able to find a niche within a niche in the golf cart parts space. He also dives deep into the processes and systems that he had to put in place to get his business to scale massively.
Here are some power takeaways from today’s conversation:
- Dan’s path going from corporate lawyer to entrepreneur
- What prompted him to make a shift
- What Dan’s reverse vision board looks like
- Why he chose an eCommerce business – and why golf cart parts
- The power of a niche in business
- The biggest arbitrage hack in the world
- Creating systems to scale your business
- Hiring people and cutting off excess weight quickly
- Things to look for when hiring people abroad
- How diet fixed his health problem
Episode Highlights:
[14:42] Dan’s Transition From Lawyering to Ecommerce
Dan worked next to a senior partner in his late 50s who was living miserably and was screaming at everyone who came by his office. When Dan left, he had a picture of that guy, got it developed, put it in a picture frame, and put it in his closet. So every morning that he wakes up, he looks at that guy’s face as a reminder that he’s not going back to that life and he uses this as his motivation.
Wanting to have the time freedom that he didn’t have back then, Dan decided to get into the eCommerce business. He liked the idea of creating a business on his computer and being able to work from home or practically anywhere in the world. He found a niche within a niche, selling golf cart parts For Dan, anything where you can't find parts at Walmart, can be a good eCommerce business.
[26:35] Finding Talent and Creating Systems
Finding talented people in other countries is the biggest arbitrage hack in the world. But most companies don't even think about doing it. There are highly talented people in other countries that can do everything – web developers, customer service, admin, bookkeepers, etc.
[27:28] Creating Systems and Hiring the Right People
Part of creating all the systems is getting the right people. Create an SOP or standard operating procedure for every single thing we do in the business. For instance, if you're doing something on the computer, just create a Loom video or screencast while you're doing it, and talk through what you're doing. So it takes you just as long to do it while you're talking and explaining it. And then you give the video to somebody, they create a document, and you never have to do that process again because you've given them every single little nuance of whatever that task was.
[37:07] Going Above and Beyond
In an eCommerce business, especially when you’re selling a product that’s also being sold by other sellers, you have to give an above-and-beyond experience to your customers. Be like the Zappos in whatever industry you’re in by being present at every customer touchpoint.
Resources Mentioned:
www.golfcartgarage.com
www.sidebysidegarage.com
www.supergut.com
Rich Dad Poor Dad by Robert Kiyosaki
What does it take to scale a business? In today’s episode, Pasha Esfandiary and Cody Littlewood welcome their first guest on the show! Listen to how the CEO of Patriot Holdings, Jeremiah Boucher, who shares valuable insights into building a business from hiring to scaling and how he's competing in an old-school industry using technology. Listen to how he’s delivering equity to his employees to keep incentives aligned, how he makes decisions with a long-term view, and how he’s learned to embrace the journey.
Here are some power takeaways from today’s conversation:
- The CEO’s job of allocating resources
- How to surround yourself with the right people
- Giving employees equity and how to structure it
- The concept of phantom equity
- How to elevate people in your organization
- Adapting to the times and showing up with authenticity
Episode Highlights:
[07:35] Your Job as the CEO
The sole focus of a CEO's mind should be to allocate resources – your capital and your talent. Jeremiah started his business in manufactured housing because he had an edge. Nobody was there and it was a good asset class. From there, he transitioned to self-storage and tertiary suburban markets because of undersupply, there's not a lot of competition, and they have good yields. Then he's pivoting into industrial which is currently the flavor of the market. And right now, his linchpin is scaling his business by building a call center that handles maintenance remotely.
[15:27] How to Surround Yourself with the Right People
The people that helped you get to where you are, sometimes won't help you get to the next level where you go unless you don't adapt, and you don't see it ahead of time and anticipate as an owner. Hence, you have to first define the role, then find someone with the skill sets to fill that role, and then keep adapting.
Most importantly, you have to align the incentives. Bring in key players as partners. Phantom equity is a strong motivator where they don't earn it until they actually invest and stay at the company until the investments materialize.
[18:52] Creating a Structure for Employee Equity
One way to funnel profits and distributions into one bucket is to open a separate company. Then in each asset, allocate 1% or 2% or whatever you want it to be. That's a partner in each of the assets or funds, and that flows into that bucket.
[20:45] How to Elevate People in Your Organization
Empower your employees to be the best they can be and have them rise to the highest potential in terms of their skills. Make sure each department understands the key dependencies of how each person needs to pull their own weight. Lead from the front. Have a brand and get yourself out there. Share who you are and what you do. Be what you want to be and share that with the rest of the company, and they either come along or not. At the end of the day, it’s all about communication, and don’t ever lose connection with the team.
Resources Mentioned:
www.jerlinks.com
Finding Your Edge by Jeremiah Boucher
Good Strategy/Bad Strategyby Richard Rumelt
Almanack of Naval Ravikant by Eric Jorgenson
Sapiens by Yuval Noah Harari
Who by Geoff Smart
Cody Littlewood wanted to build really durable cash flow for his family. He was also writing really big checks to the IRS and so he wanted to stop doing it. So he originally started investing in real estate for those two reasons. He realized how much he enjoyed it and eventually, he started doing more and more deals. Currently, he has ~$100 million in assets under management and his 2023 goal is to buy another $100 million equivalent to about 1,000 units.
Here are some power takeaways from today’s conversation:
- The importance of focusing on sales in your organization
- Paying attention to the kind of people you’re hiring
- Why Cody started a real estate private equity firm
- Being smarter about how to build a more sustainable business
- Cody’s real estate portfolio and goals
- What Cody is doing with his health/bio-hacking
- Lessons he wants to teach his children
- The biggest gift wealth has brought him
Episode Highlights:
[10:37] The Importance of Focusing on Sales
Especially, when you have a small business, you don't want to lose having a great service or a great product. But you also have to figure out how to scale it. And that means having a solid understanding of how the sales aspect of an organization works.
Cody says that if he had only one piece of advice that he would have given his younger self, it would be to have focused on having a sales focused organization earlier in his career. Let go of the mentality that you only have to build a great product and customers will come to you. You have to put your product in front of people and be able to communicate and convey its value to them.
[12:25] Pay Attention to the People You’re Hiring
In a smaller organization, it's easy for a founder to hold up the dead weight. But you have to hire people that can grow you to the next stage. Sometimes, the team that you have at a $3-million company is not the team that will take you to a $10-million or a $15-million company.
Don't try to get by on being cheap for too long. It's way better to pay a lot more money to a rockstar than pay a salary for two mediocre people. Get the right rockstar, pay them enough and make them happy, and they will accelerate a business tremendously.
[29:53] Cody’s Current Real Estate Portfolio
Between Cody and his partner, they have about 1,500 doors with six employees. Their investments are all cash flow positive, but as a business, they're not. He and his partner are investing a lot of money into infrastructure, getting the right pieces in place to continue to grow and support more deals. They are also laying the foundation for the right hires and the leads of the different departments.
[42:30] Gut Biome
If you take a look at healthy people, what they generally have in common is their gut biome and a lot of that is around food and what your gut is doing. And there are a lot of interesting connections between a healthy gut and the rest of our health that we're just discovering right now because of our ability to sequence DNA.
Every investor invests for a couple of different reasons, and we all invest in very different ways. A lot of that has to do with where we come from, how we think about risk, what our goals are, and our values. The more you can understand that about an investor, the better you can understand their investment thesis, and how they think about making money.
On today’s episode, Pasha Esfandiary opens up about his life and how his experiences have helped shape his life now, in one way or another. He shares what it was like growing up and how he went from being a college dropout to a successful real estate investor, creating a niche within a niche. He also talks about the parallels between poker and real estate investing, and how his poker skills have influenced the way he invests and makes decisions.
Here are some power takeaways from today’s conversation:
- Pasha’s family background and what it was like growing up
- Dropping out of college and playing poker
- His first investment deal
- Moving from $50,000 deals to larger assets
- Moving from Las Vegas to Los Angeles
- Commercial real estate vs. residential real estate
- The similarities between poker and real estate investing
- Pasha’s self-care practices
- The two biggest things wealth has brought to him
Episode Highlights:
[29:29] Moving From Smaller to Larger Deals
Pasha leveled up after a few years of investing. He kept recycling all his money back into more and more deals. He was buying homes around the $100k-$125k range and selling them for the $150k-$200 range. He was putting in $10k-$15k for rehabs.
Back in Las Vegas, Pasha was doing multiple projects at a time and the bigger people started to get to know him. But when he came to Los Angeles, he was like a small fish in a massive ocean. He then decided to put all his money into the Eagle Rock Highland Park area and buy cheap land. And that’s when everything took off. Those projects leveled him up to being where he is right now.
[33:31] Finding His Niche Within a Niche
Pasha found a niche within mobile home parks, particularly targeting secondary and tertiary markets consisting of mom-and-pop sellers. He’s able to build a ton of equity with his strike price usually around $3 to $7 million. He is underneath institutional money and above most mom-and-pop buyers. Due to the low-income housing crisis in America, the risks are mitigated and the demand for it has gone through the roof.
[36:08] Commercial Real Estate vs. Residential Real Estate
In commercial real estate, you can build up a lot of equity because you're in control; unlike in residential real estate, where you have to succumb to what your neighbors are doing and selling for. And so, if you know what you're doing in the commercial space, you will get your money back within three to five years, or maybe even less. Plus, it’s tax-free so you have more capacity to buy another asset. It’s a snowball effect where you’re keeping the asset while still producing cash flows.
[41:10] Lessons From Playing Poker That Shaped How He Invests
Pasha’s poker background helped shape his investment thesis. One of the lessons he learned is that you’ve got to make the right decision over and over and over again, regardless of short-term results. Second, break things down mathematically in your head.
Why should you listen to “Your Next $10 Million”?
If you’re now at a point in your business where you’ve built a solid foundation and you’re uncertain about how to get to your next $10 million or $50 million, then this podcast is for you!
In this episode, Pasha Esfandiary and Cody Littlewood get into the nitty-gritty of their lives and their story – where they're at and what they're trying to accomplish. They also share their goals for this podcast, and touch a little bit on the power of compounding as well as factors to consider when investing with someone.
Here are some power takeaways from today’s conversation:
- Cody’s background and why he jumped into real estate investing
- Three routes you could go as an investor
- Why Pasha started investing in real estate
- The power of compounding
- The goals of this podcast
- Factors to consider when investing with someone
Episode Highlights:
[05:09] Cody’s Intro to Real Estate
Cody previously built a software design firm that catered to large organizations including commercial real estate firms. Like any other average American, Cody realized how a huge part of his income goes to the IRS. Motivated to create a durable cash flow, he finally jumped into real estate investing and now co-owns a private equity firm with 1,500 doors under their belt.
[14:50] Pasha’s Introduction to Real Estate
Pasha got into real estate, not for tax purposes, but more about taking on his father’s dream of buying a property. He started investing 11 years ago through flipping houses until he went to land up construction for residential, then to apartment complexes, and now strictly to mobile home parks in the midwest. He has created a niche within a niche since they only cater to secondary and tertiary markets, where they now have over 1,000 doors under management.
[18:27] The Power of Compounding
People think about the power of compounding only with money. But there's a lot of compounding that goes on in a business, in relationships, in being in the market for a significant amount of time, in building capital relationships, in building a deal flow. The longer you're in a market, the more you become known. And the more you are the go-to guy to bring deals.
[19:37] The Goals of this Podcast
This podcast is for people, who are not just in real estate, but who have built the foundation and a significant amount of wealth. Maybe you’re trying to get to the next level. You’ve hit your $10 million and now working on your next $10 million or $50 million. This podcast is bringing in people who are capital allocators and asset class experts who will help you grow and preserve your wealth. Pick their brains and learn some strategies so, like them, you can set yourself apart.
[39:02] Factors to Consider When Investing with Someone
Check whether the business model is safe and make sure THEIR business model is safe. For instance, if the operator isn't the greatest, can macroeconomics help cushion the margins? Then see if your initial capital is safe. Ultimately, figure out what your goals are, and from there, work backwards.
Resources Mentioned:
The Daily Stoic by Ryan Holiday
Discipline is Destiny by Ryan Holiday
This is Your Next $10 Million with Pasha Esfandiary and Cody Littlewood!
This is more than just a podcast. It's a community dedicated to folks who have already achieved wealth and are looking to achieve greatness.
You probably got to where you are today by building a great business, working incredibly hard, and having immense grit. But going to your next stage is going to require smart capital allocation with more than just a focus on growth.
Getting to your next $10 million requires a different set of skills. Each week, this podcast will feature interviews and discussions with investors across a variety of asset classes, with a focus on housing and real estate.
Pasha and Cody are both successful deca-millionaires and entrepreneurs who have built real estate private equity firms. Incredibly passionate about building great families and being great husbands and fathers, Pasha and Cody are in pursuit of excellence, growing consistently, living long and healthy lives, and just making great memories along the way.
Here are some power takeaways from today’s conversation:
- About this podcast
- What to expect from future episodes
- About the hosts
Episode Highlights:
[00:23] What to Expect From Future Episodes
There's absolutely way more to growing your wealth than just capital allocation. Your Next $10 Million is going to feature a variety of experts across these pillars to ensure you have the tools and the kind of wisdom that you need to create great relationships and live a long and healthy life.
Each week, you will learn about new strategies, how to grow your deal flow, leverage tax opportunities, and keep yourself up to date with the state of the market.
Get weekly insights, unique strategies, and introductions with operators and sponsors both in real estate and other investment classes.
Hear from experts that will help you in your journey to preserve and grow capital, earn in a tax-efficient manner, and prevent you from making mistakes that will cause you to lose what you've built.
Grinding got you here. But leverage, balance, and optimization will take you to the next level. Learn how to achieve more than just monetary wealth, but also wealth with regard to your relationships, your mind, and your body.
[02:05] About the Hosts
Pasha Esfandiary started as an investor in 2011 flipping residential homes. Since then, he's been involved in over $300 million worth of transactions across multiple asset classes. Pasha was also a professional poker player. From assessing calculated risks to long-term strategies and combative decision-making, playing poker has largely shaped how he looks at life relationships and investing.
In 2021, Pasha founded Evoke Capital with a singular focus to attack market inefficiencies and commercial real estate, primarily mobile home communities. Within the last 18 months, Evoke Capital's portfolio has grown to over 1,200 patents.
Cody Littlewood is a badass former software engineer. He founded a custom software design company and engineering firm that he built from his kitchen table to employ over 75 people throughout the Americas and Europe. In order to lower his tax liability and build durable wealth and cash flow for his family, Cody founded Carbon Real Estate Investments, a real estate private equity firm focused on providing homes for families in the southeast with over 1,500 doors under management – and growing.
Resources Mentioned:
www.evokecapital.net
www.investwithcarbon.com