Adam W. Goodman

Interested in understanding the world and how it works

[Adam W. Goodman @InsannusR]

“Your big opportunity may be right where you are now.” – Napoleon Hill via @momentumdash

[Dr Jordan B Peterson @jordanbpeterson]

The better ambitions have to do with the development of character and ability, rather than status and power.

[Adam W. Goodman @InsannusR]

"If you are working on something that really excites you, you don't have to be pushed. The vision pulls you." —Steve Jobs via @momentumdash

[Adam W. Goodman @InsannusR]

"What do you do with a mistake: recognize it, admit it, learn from it, forget it." —Dean Smith via @momentumdash

[Adam W. Goodman @InsannusR]

"It's not what happens to you, but how you react to it that matters." —Epictetus via @momentumdash

[The Real Estate God @TheRealEstateG6]

You have absolutely nothing to worry about if you can execute

Everyone thinks there’s a ton of competition out there. There’s zero

World is filled with people who talk & talk but can’t execute

If you can execute, you’ll become rich. That simple. Not a question of if, but when

[The Real Estate God @TheRealEstateG6]

So you want to leave your job to start your own real estate private equity firm?

Here’s how to prepare to leave while still at your W-2:

[The Real Estate God @TheRealEstateG6]

“The most important skill is sales”

Nope. Most important skill is positioning and it’s really not even close

[The Real Estate God @TheRealEstateG6]

Once you’re past the age of 25, your focus should shift entirely from having a high salary to acquiring and creating assets

By that point you should have realized you’re never going to make it off W-2 income

Only option is to join the capital-multiplying business

[Nick Huber @sweatystartup]

Entrepreneurship culture in America is all messed up and it’s a shame.

TechCrunch. Product Hunt. Shark Tank.

It’s all about new ideas. Changing the world. Innovation. 0 to 1. Blue ocean. Venture capital and exits and scalability.

And IT’S ALL A LIE.

If you ask the average American who a real entrepreneur is they’ll say Jobs, Musk or Zuck. We read their books and idolize them and hang on to their every word.

So the brightest among us think they need a moat. A new idea. Something revolutionary. We're setting them up for FAILURE.

I took an entrepreneurship course at Cornell in 2011. 24 kids with new ideas. Big plans. Pitch decks looking for series As.

I was #25 with a regular old-fashioned business. When professors asked me what my differentiator was I didn’t have an answer.

"We're just going to pick up people's stuff and store it when they go home for the summer. I'll answer the phone, do things a little better and I think I can make some decent money."

I saw a company out there doing sweaty, non-scalable work. They weren't very good at it and yet they made really good money.

I started by trading my time for money. Bought a $1500 cargo van. Storage Squad was born. Used the things I had in my life to make some profit.
I wasn’t trying to educate a customer base.
I wasn’t following my passion.
I didn’t need funding or a network.
I wasn’t competing against brilliant folks from Stanford.
I want trying to prove a concept.
I wasn’t emotionally attached to anything except adding value.
My customers and my competitors existed. I could study them interacting with each other. I made decisions with my brain, not my heart. I was competing against folks with fax machines, clipboards and paper ledgers.

And the best part... WE WERE PROFITABLE FROM DAY ONE.

Not a single one of those 24 folks in my class succeeded. They all went and got jobs. Their new ideas didn’t catch on. They all had dreams of millions of users and an exit. Scalable models that could work anywhere from a computer. But 99% failed to make a single dollar.

We made enough money in a few years to build our first self storage facility. That grew into the 60+ property $100m+ portfolio we own and operate today. We sold the service business in January 2021 for $1.75 million. We had no debt and no silent partners. My business partner and I split the cash.

So who are the real entrepreneurs? Who are the wealthiest people you know? I’m not talking about money. I’m talking about the people who do what they want to do when they want to do it. Who are they?

Now here comes the hard truth. I know a lot of wealthy entrepreneurs. None of them had new ideas. Very few of them raised VC money. None of them were on shark tank. They all did common things uncommonly well. Regular old businesses just a little better.

BORING STUFF.

Most of them have a few things in common: They worked really hard doing something not fun for 5+ years. Many times 20+ yrs. They started out trading their time for money. They did things that weren’t scalable. Many of them offered services.

They all had to talk to people. Most of the time face to face. They had to sell themselves and their ideas. They didn’t take a lot of risk. Most of them hired coders but few of them were coders.

The main point:

Stop buying into the hype. The click bait. The sexy stories of overnight success and mega riches. Entrepreneurship isn’t that complicated. Do something with good odds, low risk and moderate rewards. Don’t master your craft, master leading other people.

Think with your head, not your heart. It’s not about you and what YOU love or what YOU want to be doing. And lastly.. Start SMALL.

Biz is about momentum. I started 10 yrs ago carrying boxes up spiral staircases. Now I’m buying millions worth of real estate.

And the best part. When you’re successful, experienced, wealthy and you have a killer network...

It’s time to change the world with something BIG.

[Adam W. Goodman @InsannusR]

E commerce, commercial real estate, gym and wellness centres, luxury residential real estate

[Jon Erlichman @JonErlichman]

First, let’s go back to 1983…

Jobs recruited Pepsi’s John Sculley to be Apple’s CEO.

He famously asked Sculley…

“Do you want to sell sugar water for the rest of your life, or do you want to come with me and change the world?”

But the good times didn’t last…

[Adam W. Goodman @InsannusR]

@McaallisterC @Adam_CV_Miller @maxmarchione A fully grown man picking a twitter fight between two blokes in their 20s because of an interesting idea they came up with in discussion 😂😂😂

[The Real Estate God @TheRealEstateG6]

Build up a decent capital base (really only need a few years of living expenses)

Then split your time between:
1. A business that cashflows
2. Creating sweat equity in a few large deals a year

Simple formula to multi-million dollar net worth and not that hard to pull off

[The Real Estate God @TheRealEstateG6]

// HOW TO GET STARTED IN REAL ESTATE //

My first deal was tiny. A 3-unit multifamily deal. Bought it for just $200k

I had been researching the market for a few months and was having trouble finding a good property to buy until…

[The Real Estate God @TheRealEstateG6]

After college I joined a $500MM+ AUM real estate private equity firm. Within just 2 years, I became a junior partner

I won't deny luck played a part, but I'd like to think there was some skill involved as well

Most important part by far was office politics

Here's how I did it:

[Harsh Darji @harshdarji_4]

@Adam_CV_Miller https://t.co/C2vRzNYPrf

- Free of cost
- Simple UI
- Analytics dashboard
- Automate posts for all the social media

[Adam W. Goodman @InsannusR]

Australian distributor Frostbland acquires skincare brand Alya Skin https://t.co/ODAZTvoYPS

[The Real Estate God @TheRealEstateG6]

If I were giving advice to myself in college:

- first step is high paying job, second is starting a business
- debt is your friend
- multiple streams of income is a requirement
- funnel all savings into high conviction bets
- owning equity is everything
- always bet on yourself

[The Real Estate God @TheRealEstateG6]

Biggest challenge by far is finding deals

Really not even close. Endless amount of capital ready and available for good deals

You either become a deal guy (good at sourcing deals) or you become a marketing guy (make money off AUM)

The 2 ways to make real money in this industry