Developing The Growth Mindset In Real Estate Investing With Gary Wilson

October 27, 2021




GDNI 175 | Growth Mindset

We may have to deal with different cards in our lives. But what matters is we have the determination to thrive and succeed despite unfortunate circumstances. Join host Jamie Bateman as he talks with Founder and Coach of Path to Profit System Gary Wilson about real estate investing, house hacking, and developing the growth mindset to achieve life’s ultimate goals. In this episode, Gary shares his story and success in developing five real estate holding companies and owning more than 250 rental units. He emphasizes the importance of continuous learning, paying attention to market conditions, and serving others. Our businesses would mean nothing without being able to give back. Learn how to grow your portfolio, analyze deals, and scale your real estate business!

Listen to the podcast here:

Developing The Growth Mindset In Real Estate Investing With Gary Wilson

I am joined by a special guest. We have Gary Wilson of Real Estate with Gary Wilson. Gary, how are you doing?

Fantastic. Thanks for asking, Jamie.

I had the pleasure and honor of being on your show, which is how we got connected. That was fun. I recommend our readers to go back and read that and also read the rest of your shows. There are many different rabbit holes we could go down because you’ve got a ton of experience with real estate investing, realtors, books and lots of things we could talk about. If you don’t mind, can you dive into your background a little bit?

Sometimes in life, you plan, prepare and do all the typical conventional things. You follow a path and things work out. Probably half the time is better. it’s just crazy accidental events and introductions that cause big turns in your life. That’s what happened to me. I went to college to study Computer Science, which I did do. I did manage to graduate in spite of all the beer.

In the summer orientation before freshman year, we were all called down to go and take placement exams to see where to start off with the core classes, English, Math and all that stuff they still do. I meet this guy named Socrates. We became fast friends. It was like blood brothers from the moment we met. We were headed back to the student union building and figured we see each other when the semester started.

Our parents were sitting there talking to each other. We’re like, “This is pretty pathetic.” His dad said, “Why don’t you guys be roommates?” We called the department in our college. She said, “We’ll let you be roommates.” We never found out who our other roommates would have been. We’d never met them. It turns out Soc’s dad was a big investor in Richmond, Virginia. He was a Greek immigrant. His mom went to Greece for high school graduation.

Her family is also Greek but second generation. They wanted to send her back to meet the family. She came back pretty much later married. We call him Jim Dement. He shortened and Americanized his name. It turns out he’s a big investor. When we graduated, we typical go out and we’re going to go rent something. His dad said, “You’re not going to rent anything. You’re going to buy.” We decided, “We’ll buy.”

We made an offer on this great two-bedroom townhome, a block away from the ocean. We called his dad. We were so proud. He was yelling and said, “You guys are idiots. You should get out of that deal. I’m going to come down. You’re going to buy a property that you’re sure you’re going to make money on.” We’re like, “You got our attention.” We did buy a 4-bedroom, 2-bathroom house. We house hacked it. We rented out the other two bedrooms to two other guys who pay their rent.

This was in January of 1986. Interest rates were still through the roof. We assume the owner’s first word, he was a VA mortgage. He was in the Navy. He had a second mortgage that we refinanced with our second that Soc’s dad co-signed for. For the remaining equity, we gave him a note for a third position. That’s how we did.

If you start off with some cash, at least you have some equity. Click To Tweet

You couldn’t have done that because Brandon Turner started house hacking. He was the first one to ever do it. I’m kidding. He coined the term, I guess.

Brandon and I have the same mastermind group called GoBundance. He endorsed my last book, which is my seventh book. I talked this whole thing about creative purchasing techniques and how it has this place but it’s just not every place. What I try to get people to do is to get on a cash basis as soon as possible. I know it sounds crazy but I’m telling you, the reality is you’ll get much better deals using cash and later on you can finance.

I’m curious about that. We’ll get more toward where your portfolio and your businesses look. You mentioned that in the episode I was on as far as being on a cash basis. Do you mind quickly drilling down on that? What does that mean exactly? I understand buying a property for cash without using a loan. What does operating on a cash basis mean exactly?

It’s a shift from leading into a transaction with a loan to leading with cash. It gives you a much stronger negotiating position. I mean your own cash. People sometimes will cheat and say, “I’m going to make a cash offer.”You go digging, you find out they don’t have cash. They’re getting a loan from some other private party. That’s not cash. That’s leading with a loan. Number one, you don’t want to say something that’s not completely accurate because your reputation is everything.

Back to the technique though, what I did in the beginning is I bought my first couple of properties with 20% down. I did start with some cash, not all cash. I was a very disciplined person. I started saving from day one, play at the mutual fund market and did well with that. When I got into real estate, I realized, “I can borrow private money for maybe 10% and get hard money for 15% or I can get a cool bank loan for 7%.” It was less expensive than 10% or 15%.

Those are fewer points. They go against your credit and all that but that’s part of the game. I said, “I’m going to play that route.” It turns out, I start off with an equity position and a stronger cashflow position because if you start off with some cash, at least you have some equity. If you do that, you also have a lower principal balance, which means you have a lower mortgage payment so you have a better cashflow position. What I did is it may look like it was slow in the beginning. Maybe by some people’s standards that was slow but I did buy ten buildings that the first year.

I was 35 years old and it was duplexes, fourplexes and triplexes. It was worked out to be 30 units by the end of the first year. I was making enough in cashflow that met or equal my corporate bank salary. I was a corporate banker doing mergers and acquisitions. I was doing pretty well. They kept promoting me. I was up in upper-level management working directly for the executives. That was not fun. I had a cot in my office. That’s how bad it was. I stayed working 2:00, 3:00, 4:00 in the morning, go home, see my kids in the morning sleeping and go back.

They kept promoting me because I kept doing it. I thought, “This was a big trap. I wasn’t getting anywhere.” I started investing and use my cash to start off. Quickly I had collectively equity across all these properties, plus equity in my own home. I still had the 401(k) and all that. It was looking pretty good. I’m thinking, “I’ll stop right here.” I’m an entrepreneur. Entrepreneurs don’t ever stop. Here’s what I did and I want everybody to write this down.

I was able to secure a business line of credit, base called it a commercial line of credit, in a second position against the equity in those first ten properties. That’s exactly what I did. People will tell me, “You can’t do that because the commercial lenders want to be in the first position.” They do but they’re also business people. It’s a good deal and you have good terms. They’ll do the deal. I found a private commercial lender who did the deal. I extracted $107,000, went out and bought the next property for cash.

GDNI 175 | Growth Mindset

Growth Mindset: When you have a lower principal balance, you have a lower mortgage payment and a better cash flow position.

The properties were all still collateral for this line of credit. That was a business line of credit. I imagine it was also a recourse loan where it’s still you’re personally liable like you alluded to. That gives you a lot of flexibility for when a deal arises and then you can go and purchase the deal. That’s pretty neat. Not a lot of people are doing that.

A lot of people here, unfortunately, will say, “You can’t do that because commercial lenders want to refinance everything to be in a first position.” I agree that most of them do and most of them will not budge on that. You keep digging and finding. Surely, there’s the old saying, “Ask and you shall receive.” I kept asking. On a commercial lender list, a licensed commercial lender did the deal with private money. That’s why I wasn’t paying hard money. I wasn’t paying a lot of points.

What’s cool about it is this, after a year, it was a 90-unit building. I’ve fixed it up, raised the rent so it was worth much more. I went out and got a brand new loan on that building. Remember, that loan is in first position because I used collectively equity from other properties through our line of credit that did not create a lien on the property.

When I got a brand new first mortgage on it, it was way more than I needed to pay back the line of credit. I paid back the line of credit but the cash on pockets still had plenty of cashflow. By the way, what do you think that lender did for me on that line of credit? I added another income-producing asset to my bottom line and paid off the line of credit. What do you think is next to me?

They bumped up the limit.

They raised the limit. I’m telling you that was the tipping point for me. That eventually led to me purchasing a 90-unit building within a few short years. The rest is history. When you work with the right banks and have a track record, it gets easier. Let that sink into you. It may look hard in the beginning and maybe it is. We all started with different-handed cards. The point is to be diligent, persistent and consistent. Don’t ever take any money out. Keep putting it back in.

On the other properties I had, what I started doing was taking the excess cashflow and started paying down and paying off those older, smaller mortgages, which gave me stronger equity positions and no liens on this property. They came easier. People never heard of the BRRRR method, Buy, Rehab, Rent, Refinance, Repeat. I was essentially was doing that but I kept doing it on a bigger scale and using my technique, leading with cash to get better deals and then replenishing when I was ready for the next property.

What does it look like for you? You’ve got a lot of things going on. You’re a busy and very hardworking guy. What does your portfolio look like? What do your businesses look like now?

I’ll tell you exactly what I’m doing. Being that I’m an old banker and IT, as you can imagine. I’m a numbers guy. I do a lot of research. I love to learn. In fact, in my corporate days, instead of going out to lunch, what I did is I brought a brown bag lunch, went into the corporate library and study for the entire hour, every single day, Monday through Friday. I learned all I could about the markets, the business trading, everything. I took those skills and applied to real estate.

When you work with the right banks and have a track record, it gets easier. Just let that sink into you. Click To Tweet

Here’s what’s happening. We’re at or near the top of this market. Everybody agrees with the inflation. The news is telling you it’s 5.4% but watch what they call their breadbasket. They came out with that back in the ‘70s. A breadbasket is a typical basket of goods that you and I buy, milk, bread, eggs, gasoline and toiletries. What the government does is manipulate the basket of goods.

They’ll take out the things that have high inflation and then replace it with things that have low inflation. They artificially say this is 5.4% but everybody that’s been grocery shopping in the last couple of weeks, where has bought gas knows it is not 5.4%. We bought a roof for $36. That’s ridiculous. People understand that inflation is real and inflation will kill any economy given enough time. It’s going to happen. It’s a mathematical story. There’s nothing to be afraid about. It’s something to prepare for.

Leading up to this, it’s been a great run-up and we’ve had a ten-year run in this recovery easily. Best we’ve ever seen. Before the pandemic, all indicators, Forbes, fortune, money, barons, all of them touting the economy are the strongest economy they’ve ever seen in recorded history by all measures. Unemployment across all demographics, everything was as best as it could be. What that leads to are increased prices. This shows big time.

The rents have not kept pace. Rents have been going up a lot but not at the same pace as the values for their traditional rental market where you buy a building or a house, rent it out to families and young couples for a year. You still need that market. It’s not as profitable as it was 10 years ago, even 5 years ago. What we’re doing is we’re leaning more into Airbnb. It’s been around for years. It’s public. They offered their stock back.

It’s considered a made sure sector in the industry and isn’t going anywhere. I don’t care what the neighbors say or what the hotel is blogging. It’s here to stay. There are other sectors like the corporate housing sector. Corporate housing is short-term housing. It’s between 30 days and 1 year. It’s traveling nurses, executives and contractors. They get six months jobs. Their companies where they will pay sometimes twice or more the prevailing rental rates because they get a furnished place. They don’t have to pay utilities.

The thing we like with landlords is they show up by themselves. They’re not coming in there with children and dogs. They’re coming and they’re going to work during the day. They come in and sleep at night. You collect all your rent. You don’t have all these court cases. It’s way easier. It’s one of the fastest-growing sectors, letting their cat out of the bag here. As you had imagined in 2020, would you agree that the traveling nurse sector has grown dramatically?

It has a great demand for housing for traveling nurses. Making a lot of money but I don’t blame them. Go travel and get double what you get working at the hospital. We’re serving that market and when it comes to Airbnb, we’re not just buying any old place. We specifically search for properties in areas where there are lots of activities. People always think of areas like Orlando. Orlando attracts destination vacation travelers and also business travelers.

It’s a great area to own properties because you’ve always got people willing to live there. There are lots of business travelers. Believe it or not, I’m one of them. I started using Airbnb because I was tired of the hotel. I love Marriott. Maybe a lot of money but it’s the same room and breakfast over and over again. I go to an Airbnb. I get a home-cooked meal, a private bedroom with a bathroom, a deck and a patio. It’s a great business.

What we do is people will pay extra money on weekends when there’s a big football game, a big baseball game, a big hockey game, an ethnic celebration like festivals, concerts, things like that. We’ll focus on areas that are reasonably priced and yet have all of those activities going on. Sometimes the beach areas don’t have those. Miami has a football team, a basketball team and a baseball team. That would work but if you go to the West Coast of Florida like Naples, there are beautiful features but you don’t have a football team, baseball team or basketball team.

GDNI 175 | Growth Mindset

Growth Mindset: Buy as much as you can, as early as you can, because real estate is always going to go up. Keep your properties. If you own the property, unless you’re dying, keep the property.

A lot of people do think of Airbnb or short-term rentals as strictly vacation rentals but that’s part of it. It’s much bigger than that. You all are actively focused on that. Do you have other parts to your portfolio? Do you still have a lot of your rentals that you bought along the way?

I’ve sold a bunch of them years ago. I stayed involved in where I provide funding. I sometimes get equity, profit share and oftentimes, it’s just basic cashflow coming or interest payments on the debt. This leads to another subject we’ll talk about. One of the cool things we’re doing is that anybody paying attention to the life insurance business realizes that we’ve had a whole life for 100 years, universal life going back maybe two generations, back to the ‘80s and ‘70s.

With indexed universal life, I like it even better. You do build up a cash value that you can borrow against for your own investing. There are also components where you can use a conduit account inside of life insurance or associated with a life insurance policy to be able to buy a bigger policy, dump all your income in there whether it’s from a business or a W-2 job. You extract enough each month to pay your bills or remainder that stays in there that allows you to buy a bigger policy with it for cash value faster and the residual instead of staying there becoming another stream of income 30 years down the road in your retirement years.

It’s amazing. These are not your grandfather’s insurance policies. We’re getting to that even on our team. We have a big production team around the country, all the global investigation team. These are real estate agents that we train to work with us investors. We’re in 25 states. We launched it in 2020 and we are already in half the country. It’s amazing. They’re investors too. They learned how to identify, analyze and negotiate properties on behalf of us investors. Anybody can participate.

If I’m a note investor reading this, how does that life insurance thing relate to me directly?

A note where you’re borrowing against the cash value of a life insurance policy like any other note is a commodity that can be bought and sold. Let’s say, for example, I have a whole life insurance policy or universal life. I’m borrowing against my policy to flip a home, for example. I might agree to pay myself 6%. I might also get to pay myself 10%, which is very attractive in the marketplace. Remember, what the bank paying is supposed to be here but what the government pays is exactly zero. We, consumers, are benefitting for this. If you go get a traditional mortgage, maybe 3.5%, commercial might be 4.25%.

If you can produce a note that’s paying 10%, there are a lot of people who would be interested in potentially purchasing that note. It’s not just for you, your own cash value and properties. Here’s my cash value. I’ll give you the proceeds so that you can go flip a home and then you pay me an interest rate or maybe a share of profit. There are so many ways you can structure this. It’s not regulated like the banking industry. It is regulated differently.

I do infinite banking myself and some version of that. It doesn’t mean I’m the world’s leading expert on it but there are so many ways you can go about it. It’s amazing once you get into it. First of all, these life insurance companies have been around since most of them before the IRS was a thing. There are many commodities within this world. The loans you’re talking about, even the life insurance policies can be bought and sold, which is a whole secondary market for that.

I haven’t gotten Chris on board with this yet but I use my policies too. The way I look at it personally, is my note business. There are three and the same thing for real estate. Every activity we work on has to fit in one of these three buckets. One is raising capital or finding money that could be going out. Chris and I have a note fund where we raise capital from other investors. That’s one way of raising capital.

The more you give, the more you receive. Click To Tweet

Another way that I raise capital is through these whole life policies that I use and I borrow against them to invest in my note business and then arbitrage the difference. The other two categories are asset management and finding deals, which are very important as well. That’s interesting. Was there an impetus there? There must have been but why did you start actively moving into that space?

Being an entrepreneur, the radar is always open to new opportunities. Way back in the ‘80s, I had my first whole life policy. I was blessed to know some fairly affluent people in the early days. I became an investor. I eventually got my license because the realtors didn’t know how to help me. I thought, “I’ll get my license.” That led to brokers lending. That led me to other introductions to some well-known people that some of you probably wouldn’t know some of their names if I mentioned them.

I recognize that all of them had whole life insurance policies, big ones and it worked. He was doing it for the death benefit. They were doing it partly to help retain the lifestyle of their loved ones if something will happen to them. A lot of these guys are business owners and a lot of us business owners know that we are the business. If something happens to us, a lot of times the business will struggle. The family is left with this business that is worth less than maybe making less money.

Let’s say, I have this big, giant death benefit to maintain their wealth and lifestyle. The other benefit was cash value and they were using the cash value to do their investing. They were not going to the banks. It made us a lot more flexible. That’s the money that you’re borrowing against. Even if the life insurance company gives you the money, it is still collateralized against your cash value.

The other cool thing is they would get a loan from the life insurance company that was further collateralized by a big chunk of land, for example. Instead of getting the cash value, they would get a loan. Even on a life policy that they opened up, they would get a loan that’s ten times what that value is because they have this additional collateral. This internally controlled loan is not going up against the Federal banking law for conventional mortgages. It doesn’t mess with their credit.

I started watching that. I know people with twenty or more whole life policies. There are some other benefits too. That money inside of there for one thing, if you were to receive a death benefit from another person’s policy, they name you as beneficiary. That’s non-taxable. Also inside that growth, the value is also non-taxable.

That’s what blew my mind when I took the time to study this a couple of years ago. Essentially, a dollar is doing double duty. It’s growing inside the policy but I can also borrow against it, create another dollar over here and then bring it back. It’s a powerful strategy. I love the fact that your mind is always open to new possibilities and you’re always looking for ways to go about things. You don’t just take no for an answer.

Keep working your corporate job and stuff money into your 401(k). The 401(k) itself is a lot younger than these policies as far as history goes. That’s cool. The creativity and not taking no for an answer. You’ve done well going about it. I want to back up for a second. You’re 35 when you started investing in real estate. I wanted to touch on that because you might have people in their mid-30s and they think, “I missed the boat. It’s too late to be a real estate investor.

My oldest student by the way is 84 years old. There’s plenty of gap in the tank. What happened was that Socrates and I bought this house two years later after having fun for two years, bachelors on the beach side. I fell in love, got married and moved to Western Pennsylvania in the Pittsburgh area. When we closed on a property, we went down to Mr. Demetri, one of his beach houses in the outer banks.

GDNI 175 | Growth Mindset

Growth Mindset: You can’t take your money with you, but what you can take is a fulfilled heart serving. You will gain more with prosperity through service.

He’s pounding his chest, train a few boys, do what I tell him to do. When you’re 35 years old, you won’t have to work for anybody else but we didn’t do that. We bought boats, Vic trucks, everything he said he wouldn’t tell us to do. I look up ten years later at 35 in the corporate world getting promoted, going up through the ranks and hitting it every second of the way. He had passed away since then. I remember thinking to myself, “What if I had done what he had told me?”

I said, “I’m going to do it.” I went out and started investing. I paid for a mentor, an elderly gentleman named Gerhard. He passed away. He was 72 at the time. Took me under his wings and showed me how to do what I did that first year when I bought those ten properties and wouldn’t get that commercial and a credit. That was on my own but he made the introduction. The next year I bought ten properties. What I did is I took a year off and paid off the secondary debt.

I took out a home equity line of credit, a personal line of credit and paid all that off. Even stronger equity and more borrowing power because I had great credit. I started being more strategic and buying bigger properties, 5 units, 9 units, things like that. By the time I was 40, I was well-positioned. I had the cashflow coming in that exceeded my bank salary, which was pretty good. It was already over six figures at that time.

I also had enough cash on hand to manage four different projects in different phases, purchasing and remodeling. I was able to manage four projects on a cash basis. That’s what I knew I was independent. That’s when I made the leap and got out of the corporate world. Thank the Lord I never looked back. That first year, it was strange because I’m going out on my deck in the morning with a newspaper and a cup of coffee in my bathroom, watching my neighbors drive to work and I felt guilty.

For that first year, it was a mental, emotional struggle because my programming from childhood, we didn’t have a lot of money. My grandparents on my mother’s side were month-to-month, paycheck to paycheck. On my father’s side, there was some wealth in there but they got through the Depression era where they shaved everything, put money in mattresses and suitcases. It’s a weird program I had to overcome. It took me about a year when I finally realized I earned this. It’s like bought my own freedom.

I know we’re heading toward the end here but diving into the struggle you faced there and then the mindset shift you had to make. Most people will think, “This glorious moment when I leave my corporate job, I’ll sit on the beach and drink my ties.” I’ve heard from other people as well that it can be a little bit of a struggle. Do you mind drilling down on that a little bit?

The first thing was fear. I could have left earlier but I had five weeks’ vacation, big giant 401(k)and medical dental, all the way to the C-Suite. When I left, I had a lot of negative feedback from family and friends like, “What are you doing? Are you nuts? Only creepy people dream for that job.” I was not happy. When I left, I had to get over all that. Here’s what I want to tell you. You can never learn too much.

I would study and learn everything there is about how our minds work, the connection between our mind, body and spirit. I study all that. There’s way more important and valuable than anything I can teach you academically about identifying, analyzing and negotiating deals. That’s the easy part. I can teach you how to make money in real estate. The hard part is will you do it. Will you stick with it? Will you be in a comfort zone and abundance with what you have? I was in scarcity back then. Now I’m in abundance.

I did have private coach for a long time named Janai Lane. She’s a wonderful person. She helped me see how my programming was affecting me, how to undo it and operate from abundance. What happened was instead of me thinking linearly, I’m going to set up a burgers company in Wichita, Kansas. That’s linear thinking. That feels like big thinking to most people. When you’re an abundance mindset, you think exponentially, which you realized, “If I can do it in Wichita, Kansas, I can do it in every metropolitan area in the country.” We do that on a national scale. We will launch it beta-tested in one location then we quickly expand exponentially.

You can never learn too much. Click To Tweet

I interviewed Rod Khleif a while back. I don’t know if you’ve talked to him before. It’s a similar vibe as far as mindset. He talks about mechanics being 10% or 20% of getting a goal accomplished but mindset is 80% to 90% of it. Thinking bigger doesn’t mean you got to test it. You have to know that it works. You can’t skip those steps necessarily. If you can do it once, you can do it 100 times or 1,000 times. I love it. You were able to get past that challenge of fear, maybe guilt or a negative mindset. What would you say looking back was your biggest mistake or regret you have?

It’s selling some of the properties. There have been properties that caused me a lot of headaches but at the end of the day, I always made money. I never regretted buying them but I can tell you almost every property I’ve sold, I regretted selling. One of my best friend’s father told me this. When I got in college, I bought that house and he said, “Good move. Mr. Demetri taking you like that was a very lucky break.” He’s right.

He says, “Buy as much as you can, as early as you can because real estate is always going to go up.” We have dips, not like stock market. In the last recession, real estate went down. That property that I paid $63,000 for in January 1986 is worth about $500,000. You better believe I wish I’d have held on to that one. If you own the property, unless you’re dying, keep the property.

As we head towards the final section here, we sent you a few questions before this and I read through your answers. One of the questions is about, a good deed that you’ve done through your investing. I’m sure there are too many to mention but you had one in mind. Do you recall that?

In the early days, I started sponsoring families like Bosley in the late ‘90s. I put him in my unit, gave him a break on the rent and things like that. We leverage our assets to serve the community and then later on, people from Burma and Nepal in the mid-to-late 2000. I ended up taking one entire building and turn over about 75% of the units to refugee families. That led me to go back to a vision I had in many years before called the Healing House Foundation.

With our investor network and all these investurations we trained, we were able to purchase properties in communities that had a need housing. We remodeled them then flipped them into service as opposed to profit. There’s a whole fishery infrastructure there using a charitable remainder trust and so forth. It is a wonderful way to gain fulfillment from what you’re doing because that was one of the key struggles for me. I wasn’t being fulfilled at an early age. When I leverage this and the more I give, the more I receive and interests attract.

My very next call is with a minister, a recovering addict who has a program for other recovering addicts. We’re thinking of implementing that through the Healing House Foundation. Everybody can participate as a giver. If everybody knows somebody who’s struggling, particularly with addiction and more likely a need for housing, go to RealEstateWithGaryWilson.com.

You’ll see a Work with Me form. Click on it. There’s another one for realtors. Find out more. Click on that and leave your email. I’ll share the information with you. You can get all kinds of free books on that site by the way. We talked about the Healing House Foundation. We take meaningful steps to make it happen because, at the end of the day, you can’t take your properties with you. You can’t take your money with you but what you can take with you is a fulfilled heart serving.

You will gain more, I promise you, by serving others. We call it prosperity through service. Serve others first and you shall prosper as a result. I wish I learned a lesson when I was in my 20s and 30s. It took me until I was in my 40s and 50s to figure that out. It’s the biggest lesson I’ve ever learned. You can’t measure that kind of happiness.

GDNI 175 | Growth Mindset

Growth Mindset: Serve others first, and you shall prosper as a result. You can’t measure that kind of happiness.

It’s hard for me to follow-up with anything after all that. That’s good. Life is much bigger than ourselves. It’s refreshing to hear from a successful real estate investor that it’s not all about the money, themselves and greed. Truthfully, I don’t think that there are many successful real estate investors who are only focused on themselves. They get a bad rap. There’s nothing wrong with profit, success, wealth and cashflow for yourself and your family.

The fact that you’re giving back, that adds a lot of purpose to your life. I know you have that call you mentioned and I know you’re a very busy guy. I’ve checked out your website before. There’s a ton of free valuable information there. I do recommend all of our readers go check that out. Is there anything else you want to share with our audience before we hop off?

I did just remember, if you go to the website and you click on Members Area, there’s another page that you go where the left side is for people who are already members and the right side is for people who want to be a member. You can become a member for free for 30 days, grab all the books and all the resources.

It’s like Christmas time. Grab it all for free. We have the show, Massive Passive Cash Flow Podcast and the YouTube channel, Real Estate With Gary Wilson. It has sixteen different playlists. I don’t know how many 100 of videos. My thing is to learn as much as you can learn. Get all the good learning for free as much as you can and we got a ton of it. Have that and treat yourself. Christmas is coming up so give some free gifts to people.

It may look hard in the beginning, and we all start with different-handed cards. Be diligent, persistent, consistent, and don't ever take any money out; just keep putting it back in. Click To Tweet

You’ve got books on flipping rental properties, pretty much every facet of real estate.

Wholesaling and commercial property management. I need to update it because the industry’s changing so fast. It’s crazy.

That’s valuable to educate and invest in yourself. We talked about market conditions and inflation but we don’t know exactly what it’s going to look like in several years as far as real estate pricing or any of that. The more you can learn, the better off you are in that position when those changes do occur and then you’re informed and can make an informed decision.

Gary, this has been phenomenal. We should have you back on the show if you would be willing to join us. There are so many different paths we could go down. We’ve barely scratched the surface on any of them. I know there’s a lot we could do here next time. If you’d be willing, we’d love to have you back on the show.

I’d be honored. Thank you, Jamie, for having me on. It’s a pleasure to do this. I love to teach. That’s my nature. I got a new Hawaiian print shirt. I’ve got a few more. I’ll use another Hawaiian print shirt for another show.

There you go. We’re looking forward to that. I love it. Thank you very much. I appreciate your time. For all those readers out there, don’t forget to go out and do some good deeds. Take care.

Take care. God bless.

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About Gary Wilson

Founder, Trainer and Coach of Path to Profit System, teaching more than 20,000 Agents and Investors. Students of the Path to Profit Systems have gone on to create fortunes in brokerage, property management, and by applying multiple investment strategies including flipping, wholesaling, and acquiring rentals.
What is your industry/ area of expertise? Real Estate Investing
What makes you uniquely qualified to discuss this topic/ what is your value proposition?
*Traded over 3,000 Investment properties in less than 5 years;
* Developed five real estate holding companies, owning more than 250 Rental Units;
* Self-made multi-millionaire by building a real estate enterprise including: brokerage, rental management, investment services, settlement services, and appraisal services;
* Award winner and accepted into Andron Apiphenon Order of Excellence for Real Estate;
* Author of Seven Real Estate Investment books:
Rental Profits Without The Pain
Flipping For Profits Without The Risk
Turning Rental Problems into Real Estate Profits
Author of Wholesaling For Profits so Everybody Wins
Investor Agent, Make More Money Not More Work
Real Estate Reality, the Truth behind No Money Down Investing
Massive Passive Cash Flow Method
Why is this important to you? I can teach others how to create financial security through real estate and in the process avoid the pitfalls/mistakes by doing it right the first time through the knowledge and guidance I can provide.
Do you have something you would like to promote (book, speaking engagement, classes, product, etc)? A one on one consultation with me so I can show them exactly how I can help them using the Work With Me tab on our website names below. Also, we have a team of more than 100 Investor Agents in the states who are trained to identify, analyze, and negotiate Real Estate Investment opportunities using specialized tools and processes giving them access to every single parcel of real property in the United States.
If you have a framework, format or process to your business/ services, please outline that here (ex: 3 steps to determine if you’re ready to invest) Yes, I use a Vision Coaching Process that involves a SWOT analysis, Goals analysis and proprietary planning process that ensures success when using our tools, methods, and Investor Agents.
Share your most memorable “Good Deed” from your investing career where you positively impacted someone’s life for the better I utilized one of my apartment complexes to provide housing for refugee families from Burma and Nepal.

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