My big audacious business goal is to create an 8+ figure investment portfolio and create economic sustainability in overlooked and underserved communities.
@heIpfullandlord I think about this a lot. An agent knows so much about markets, negotiations, contracts, etc. That is an unfair advantage that can be deployed when doing deals.
I hear this often from millennial high earners:
“I want to retire early.”
Or at least:
“I want work to become optional.”
Then I look at where their money is saved.
And I see the same problem almost every time:
↓
Mark was 42.
His parents had a paid-off home worth $1.2M, large investment accounts, and no major spending habits.
His assumption:
“I’ll probably inherit enough one day to be okay.”
So he:
Byron Allen, Founder of Allen Media Group, explains how treating business like a contact sport unlocks unlimited capital:
Byron once borrowed $310 million on a Friday to acquire the Weather Channel. He paid it back in five months.
When the lender hit him with a $28 million prepayment penalty for closing too quickly, he paid that too.
His philosophy on why capital is never the real obstacle:
"Business is a contact sport. You're nothing more than economic athletes. They will see your passion. They will see your stats. And they will always want you on their team because you make them money."
The framing shift here is everything.
Byron sees founders as athletes whose performance is being evaluated by people who need them to win.
"You have unlimited amounts of capital available to you if your hustle is at the highest level."
@RealByronAllen drives the point home:
"Keep your hustle at the highest level because capital is always looking for you to get the money back and a return. There's trillions and trillions and trillions of dollars of capital looking for you. Go get it."
The takeaway: Capital is hunting for operators who can put up the stats. Hustle at the highest level, and the money will find you.
Your Crystal Clear Criteria should fit on one index card. If you need a spreadsheet to explain what you're looking for, you don't know yet.
- Strategy
- Property Type
- Location
- Condition
- Price range
- Profitability
"The shift means that the upper middle class — which AEI defines as households earning between $153,864 and $461,592 for a family of four — now constitutes the largest income group in the U.S."
More here, via CBS News: https://t.co/lkmYQlz6bi
Blows my mind that real estate investors don't "get" it yet. Probably because it's complicated, so it's easy to shut your brain off instead of learn something new.
But please.... read this. I made it simple. I have nothing to sell you with this.
People on a job will never dictate my success. I determine my success. Your opinion of me is subjective. The market will dictate if I am creating value.