How Sober Living Houses Can 5X Your Cash Flow on Any Rental And Make You A Millionaire In 12 Short Months | Andrew Lamb
Millionaire Mindcast
Matt Aitchison Media, Inc
4.4 • 716 Ratings
🗓️ 5 June 2023
⏱️ 42 minutes
🧾️ Download transcript
Summary
In this episode of the Millionaire Mindcast, we have Andrew Lamb who shares his real estate investing and wealth-building journey, creating life freedom, building relationships and growing networks, and the perfect alignment of purpose and profit that impacts the community!
Andrew Lamb is a husband, father, a real estate agent for 12 years, Affordable Housing Advocate, and CEO at Sober Living Riches, your go-to online platform for learning how to launch, manage, and scale a profitable sober living home while making a positive impact.
Andrew was grinding away with his sales team while growing his office. But he realized that he wanted to build real wealth. He felt like he needed to know how to invest and flip some homes. The unfortunate things drew him to create more income, wealth, and stability that literally changed his life within the year.
Some Questions I Ask:
For those who don't know who you are and what your real estate investing and wealth-building journey has looked like, rewind a little bit for us?
For people that are not active in real estate but understand about it or are attracted to it, talk about that journey of failing forward moments and how challenging it is?
How did that story look life for you, taking the pivot on buying some assets and building a portfolio that generates passive income, and how did you lean in to taking actions and bringing it to life?
Talk us about the actual financial side of this Sober Living model, its systems, processes, and what operations look like in terms of managing?
Talk us a little about the rules and rags of the model, how to keep things safe, and the system behind it?
Talk us the myths of this business model and high-level overview of some of those things?
With all these houses and beds, what’s the screening look like?
What Sober Living Riches is, and the purpose behind it?
In This Episode, You Will Learn:
The power of partnership relationships.
Why Andrew loves flipping.
The concept of Sober Living Riches.
Resources Mentioned:
Hold book by Jim McKissack, Steve Chader, Linda McKissack, Jennice Doty, Jay Papasan, Gary W. Keller
Quotes:
“You get paid in proportion to the value you provided.”
Connect with Andrew Lamb on:
https://www.soberlivingriches.com/
https://www.instagram.com/theandrewlamb/?hl=en
Sponsor Links:
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Factor75: Use the code MINDCAST50 to get 50% off your FIRST box!
Brevo: Visit https://brevo.com/mindcast or Use the code MINDCAST and get 50% off your first 3 months!
Accredited Investor List - Text "DEALS" to 844.447.1555
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Connect with Matty A. and Text me to 844.447.1555
Show Brought To You By: www.MillionaireMindcast.com
Questions? Comments? Do you have a success story you would like to share on the show?
Send us an email to: [email protected]
Transcript
Click on a timestamp to play from that location
| 0:00.0 | when you get in connection to people who are doing the thing you want to do, you realize everything |
| 0:03.8 | that you thought in your head, like maybe it's a little different. Maybe you don't need much money |
| 0:09.1 | as you think. Maybe it doesn't cost as much as you think. Like I had saved up six figures in order |
| 0:14.5 | to buy property and put this big chunk of change down. Lo and behold, just through having conversations |
| 0:19.0 | with other local investors, I found people |
| 0:21.4 | willing to fund the entire deal. So I didn't even need to use my own funds. It gave me definitely |
| 0:25.8 | the runway, if we made a mistake, the cushion in the confidence to jump out there and do it. But I |
| 0:30.6 | didn't need to use really any of it because I legit found a private lender locally who had done |
| 0:35.6 | 100 flips himself, who would fund 100% of the |
| 0:38.1 | purchase and the rehab as long as we were buying really good deals. |
| 0:40.5 | And I was finding them. |
| 0:57.6 | Well, I'm excited to welcome into the show, my brother, Mr. Andrew Lamb of Sober Living Riches. |
| 0:58.3 | How we doing, man? |
| 0:59.5 | Doing well, doing well. |
| 1:00.2 | Glad to be here. |
| 1:09.0 | Yeah, we were just talking kind of before jumping on this and, you know, reminiscent a little bit on your real estate investing journey. |
| 1:13.5 | I know when I met you, what is it, three, four years ago? |
| 1:18.1 | Probably, yeah, 2018, something like that. Four plus years ago now? Yeah. |
| 1:24.4 | Where, you know, when you and I first started working together, you know, coaching and consulting, |
| 1:29.0 | you were wanting to, you're crushing it in real estate on the traditional side of things and you really wanted to get more onto the wealth building side and generating |
| 1:34.2 | more cash flow. And boy, have you cracked the code on the cash flow side, which we're going to be |
| 1:40.2 | talking a lot about today because sober living homes, retirement homes, a lot of |
... |
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