What Real Estate Investors Get Wrong And How It’s Costing Them Everything

Disruptors

Steve Trang

Business, Investing, Careers

5 • 741 Ratings

🗓️ 17 September 2024

⏱️ 78 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this episode of Disruptors, we’re thrilled to have Brent Daniels from TalkToPeople.com back with us— a powerhouse in the Phoenix real estate market, and he’s to reveal the critical mistakes real estate investors make that cost them everything.

What Real Estate Investors Get Wrong And How It’s Costing Them Everything | Video Replay

What Real Estate Investors Get Wrong And How It’s Costing Them Everything

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What Real Estate Investors Get Wrong And How It’s Costing Them Everything

Brent Daniels | TalkToPeoplehttps://www.talktopeople.com/

Instagram: https://www.instagram.com/realbrentdaniels

YouTube: www.youtube.com/@BrentDanielsTTP

Brent Daniels, founder of Talk To People, champions a hands-on, action-focused approach to real estate wholesaling. While working as a real estate agent in Phoenix, Arizona, Brent stumbled upon the wholesaling process during a property listing, which led him to make a significant career pivot. He honed the skill of sourcing discounted properties and assigning contracts to investors, transforming his career. Now, Brent operates a multi-million dollar wholesaling business and helps others achieve success, whether they’re pursuing their first deal or their hundredth.

What Real Estate Investors Get Wrong And How It’s Costing Them Everything | Takeaways

1. Build a “cash machine” first before investing in rentals

2. Master the fundamentals before hiring VAs or tools

3. Prioritize properties with appreciation potential and good property management

4. Understand your “financial thermostat” and its impact

5. Take a conservative, long-term approach to profitability

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Transcript

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0:00.0	The biggest issue that we run into is from the time we're zero to 12, that's what sets our financial thermostat.
0:06.9	In my life during that time, my dad adopted me when I was two, and my dad moved us when we were, I was nine to Australia.
0:13.9	And then we moved in junior high to get another bump up.
0:17.4	And so just leveling up during, during those those prime time years it was kind of like lower
0:21.7	income lower middle class that sets certain things in your brain when I got out of college and I
0:26.6	made $100,000 I was like oh my gosh that is a lot it took my dad so many years to make all this and
0:32.9	we just didn't talk about money we didn't talk about being an entrepreneur we didn't talk about
0:36.9	sales we didn't talk about these things and so I think it took me a while to be around
0:41.7	people that their financial thermostats were either forced or raised really high to be able
0:47.4	to understand, okay, wait a second. I need to buy asset. I need to be putting the money into these
0:53.0	things that are going to pay me for a long
0:55.2	period of time and think longer term and not just be so hand to mouth of it because you get to
1:00.7	that upper limit of your financial thermostat and you feel like I don't deserve it. I'm going to go
1:04.9	hire people. I'm going to go spend money on this marketing channel. And I think that's the problem
1:09.0	that real estate entrepreneurs have and it crushes them.
1:13.5	Everybody, welcome today's episode of Disruptors.
1:15.6	Today we have Brent Daniels with Talktopeople.com.
1:19.1	Back again.
1:20.1	If you don't know Brent, obviously a major,
1:22.0	major player in the Phoenix market.
1:24.1	And today we're talking about what real estate investors
1:25.6	get wrong and how it's costing them, everything.
	...

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