Real Estate Coaching – Page 6

Optimizing Your Real Estate Business To Live Life To The Fullest With Chad Weeden

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There’s nothing wrong with working hard to grow your business. But as Tim says, the business is the vehicle, not the dream. One man who’s got that concept down is Chad Weeden of Fusion Real Estate Investment Group. In this episode, Chad talks with Tim Herriage about how he’s optimizing his real estate business to make time for what matters most: family. By automating processes, getting marketing down, and having a trusted team, Chad has built his business to function in a way where he can make spontaneous plans and still get things done. He even spent a month vacationing without his business missing a beat. If you want to learn how he did it, tune in to this episode! Be moved by Chad’s philosophy and learn the strategies to help you live life to the fullest without compromising the growth of your business. — Watch the episode here Listen to the podcast here Optimizing Your Real Estate Business To Live Life To The Fullest With Chad Weeden I’m here with my friend, Chad Weeden. Chad, thank you for being here. I appreciate you having me. Chad, why don’t you take a second and tell everybody a little bit about yourself? That’s a long story. I’m a former military guy who somehow ended up in the car business. I was a finance manager for a long time. I’m a failed business owner the first time around, broke as hell, and found real estate investing. That’s the shortest term. I’m not going to steal your story, but folks, I’m here with the greatest dad I know. We’re going to talk about that in a little bit because it’s a big part of my passion for this business. I start every week with a session I call the Bottom Line Up Front. As a military guy, you know what I mean. General, we’re in the tent, we’re briefing, mortar rounds come, and the general has to leave. I got to make sure he knew the most important thing. I want you to share the most important things happening now in business, the things people need to be focused on, things they need to be thinking about, and maybe things they should be trying to avoid. Impart your wisdom and the things they need to take away what’s happening now. I’ll start with my focus. I was in the car business when the crash happened in 2008. My focus now is to be smart and make sure that I’m not missing out on any opportunities. I feel like I don’t want to get crazy and out of hand, but I don’t want to miss the boat. Back then, I missed the boat on some things out of fear. For a lot of us as entrepreneurs, fear is a driver. It can stall your trajectory on what you want to do. Outside of that, I’m still looking to capitalize on all of the things that are right in front of my plate. One thing I don’t want to lose track of is why I got into this business and why I got out of the business that I was in. We’ll probably touch more on that. I’ve focused on chasing time. That’s been my number one thing, chasing time for my family. We’re blessed with an autistic little guy. Our whole family is totally blessed. That’s been my life focus now, going on what we’re doing. I try and intertwine and weave in and out of life, with that being my main focus. I would say don’t miss on opportunities, but don’t get too crazy. That’s all I have to say. That was great. You brought it up, so we’re going to go straight there. Many people get into this business. On my personal website, the headline says, “The business is a vehicle, not the dream.” I’ve been there. I’ve got lost in the business I claimed to have created to spend a lot of time with my family. I never saw my family because I was working in the business. Did you spend how many days in Florida? We spent six weeks roughly in Florida and a whole full month in Key West. We pretty much hung out on our boat every day. It’s the Salt Life. It was incredible. It’s you, your wife, and your kids. Did you shut your business down during that time? No. The investments side of my business never skipped a beat. I got back home, and I was behind on some stuff, but we still bought as many houses as we were going to buy, regardless of whether I was in the Keys or sitting in my office in the basement of the house. Your wife, Wendy, is a realtor. She’s a multi-state broker in Denver and South Carolina. We both have teams. It’s amazing. One thing we’ve figured out, and I do this to my wife a lot, is, “Drop of a hat.” We’re going to be gone for a week. We’re going to hit the road. We do these road trips. For example, I’d booked Airbnb for a month, and we’re going to live somewhere for a month. I always get this same response from her, “What? Can we just stay home?” I am not a homebody. I’ve crafted my business to be able to live that way because I’ve sat in the office and the car business for so long, chained to a desk, that I envy people that could travel and do what they wanted to do. I love my children and my dogs, but I’ve told my wife that when the young one is no longer in school, we’re going. I’m going to be up in the Northeast during the summer. I’m going to be in the South in the winter. Part of that, which I’m guilty of, is making excuses on why I can’t do it now. I could find someone to board the dogs. I could

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Sometimes, being naïve about how things work in a business can be a blessing. While others are running away or cowering in fear, you might just go against the grain and reap massive rewards as a result. That’s exactly what happened to Mike Hambright when he started out in real estate. Mike is a real estate investor for 14 years, podcast host, and founder of Investor Fuel, America’s top mastermind for professional real estate investors. Joining Tim Herriage in this episode, Mike takes us on a tour to his real estate journey, which started in 2008. If you’ve lived long enough to know what 2008 means, you’d know that this guy ran straight into the fire while everyone else was running away from it. But he came out of it even stronger and now has diversified into multifamily, coaching, and a lot of other things. Tune in as he dishes out nugget upon nugget if wisdom that only a smart, seasoned investor, coach, and thought leader like Mike can offer! — Watch the episode here Listen to the podcast here Delayed Gratification Is Your Key To Financial Freedom With Mike Hambright Of Investor Fuel Mastermind Welcome back to the Uncontested Investing show. I’m Tim Herriage. Thanks for coming back. I’m here with my buddy, Mike Hambright. How are you doing? I’m excited to be here. I’m glad you are here. Thanks for being here. Why don’t you tell people who you are and what you do? First and foremost, I have been a real estate investor for a couple of years but over the years, you start to bolt more things on. First, I became a rental company owner. We are managing rentals and then started getting into coaching. Over time, I founded the Investor Fuel Mastermind, which you have shared there. Over the past years, I have run a data and tech company and lead generation called The Investor Machine. There’s a bunch of stuff in the real estate space. I’ve flipped hundreds of houses here in Dallas. You and I used to be running shoulder to shoulder, maybe competitors that we are all competing on some level. Now, I mostly do large multifamily syndication. It’s a little bit of everything over the last years. You are an interesting fellow. You are doing probably the best job in the industry on the mastermind with Investor Fuel. I’ve enjoyed being there, not only as a lender but I still run my investment company. I find myself sitting in the presentation like, “We suck,” rather than, “This guy is doing $80,000 a month, and I’m doing $50,000 a year.” We need to fix that. In one of my first segments when I was in the Marine Corps, I used to brief generals. I was an intelligence analyst. They always told us, “You had until the most important thing up front.” You don’t bury the lead in a briefing because you start getting mortar shells or the general has to get up to go to do something. He needs to know the most important thing. Imagine we’ve got someone reading. Maybe they go to coffee. They don’t get to catch the whole thing. I want you to take two minutes to deliver the bottom line up front. What do you think people need to be thinking about, doing, not doing or focused on? Give general, relevant, actionable advice. Take it away. Ultimately, folks need to understand that this is a long game. For the first couple of years that I was in business, I was living day-to-day, very transactional. This is a transactional business as a real estate investor. However, when you have the hindsight to be able to look back on the failures, the wins, and everything that’s happened over time, and you could do it over again, it’s good advice to know that you should be in this for the long haul. In this day and age, everybody wants to pop a pill and lose 50 pounds, and everything is supposed to happen fast. We have immediate gratification when I have an idea for something, and it’s at my doorstep later that day from Amazon. That’s not how the real world works in terms of your career or business. You have to play the long game in terms of being willing to fail. If folks that are reading are just getting into real estate or in any business, that’s not a normal thing. We think failure is a loss. When you are an entrepreneur and have been in the game for a while, you realize that failure is a stepping stone to success. You have to be willing to fall but you have to be willing to get up. It’s not over until you don’t get up. Play the long game. Think about the end in mind. I posted something on social media about delayed gratification being the key to financial freedom and freedom ultimately. If you wholesale everything and gets that quick buck or rehab it and get that not as quick a buck but more bucks, and you don’t keep them as rentals, at the end of the day, you will be disappointed. Play the long game, think with the end in mind, and make sure you are setting yourself for a long-term legacy. It’s good advice from a smart guy. Let’s talk about what we are going to talk about. What are some things that you think are interesting happening in the market nowadays? It’s interesting because there are a bunch of folks that are in the business that they weren’t in here during the last downturn or any other market cycle. This is all they know. I started in 2008, so it was a down cycle, which was never that bad in Dallas. Let’s be honest. There are a lot of people that have practices now that are going to get in trouble like overpaying for houses because they are counting on