“Persistence breaks resistance; no matter where you are in life you can make a change to make it happen”
The Landlord
This episode is going to make you stand up or sit down, whatever the opposite is of what you are currently doing. “The Landlord” is famous in Real Estate investing circles. He is the real-life story of Rich Dad Poor Dad mixed with a twist of the hard knock life. Growing up in bad neighborhoods and learning to hustle out of necessity to survive at as early as 14, The Landlord became a master of many crafts, especially in Sales.
His ever-persistent attitude led him in a financial quest into different markets and eventually real estate. With only a 6 grade education he learned a unique angle in acquiring properties and was able to build a massive private property empire in under 12 months. Through his career in real estate he has amassed experience, lessons, and stories that are priceless. This episode is tremendously entertaining and has some big value takeaways. This is the ultimate story of hustle.
Listen to ILAB 31 on iTunes here or subscribe on your favorite podcast app.
ILAB 31 Show Notes
Where are we:
Budapest, Hungary
Recommended:
ArtofFX – start with just a $10,000 account (reduced from $25,000)
Fundrise – start with only $1,000 into their REIT funds (non-accredited investors OK)
Wealthfront – get your first $15,000 managed free
Betterment – get up to 1 year managed free
RealtyShares – try it free with ILAB link
Books:
Robert Kiyosaki – Rich Dad Poor Dad
Show notes:
01:35 – Introduction to The Landlord
02:45 – Collecting rent in urban areas
06:15 – Selecting security detail
07:15 – Early stories of the Landlord
08:00 – With only a 6th-grade education
10:00 – Hustling in the streets
13:25 – Starting his first business
15:30 – Doing a deal with overstock.com
16:20 – Doing the sales calls yourself
17:25 – 10,000 hours of cold calling
20:00 – Getting through to the executives
22:00 – Hustling for the small sales, not just the big ones
23:35 – Transitioning into liquidation sales
27:00 – The Landlord’s first property
30:15 – Real estate auctions
38:00 – Gun shots in low-income neighborhoods
41:15 – Cash flows of properties
46:45 – Managing day to day drama
51:10 – Evicting 2,000+ tenants
54:00 – Scaling the company
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