This Sh*t Works (eBook)

Three of the Best Strategies to Create Consistent Income in Today's Real Es

Kent Clothier (Autor)

eBook Download: EPUB

2020 | 1. Auflage
256 Seiten
Lioncrest Publishing (Verlag)
978-1-5445-1484-0 (ISBN)

Infos

Real estate can be the perfect way to escape the 9-to-5 rat race and become financially free, but how do you decipher what's real from what you've seen on TV? Not only that, but what kind of expectations should you have before you start doing this work? You need a roadmap to real estate that is applicable, digestible, and written by an expert with years of experience-exactly the book that Kent Clothier has written. Mixing in Kent's story and the lessons he's learned, This Sh*t Works lays out three proven strategies for consistently generating income in today's real estate market: Quickly flipping properties for fast profit without using your cash Working with an organization to acquire cashflow properties in a pain-free environment, where all you do is write the check Putting your money to work in retirement funds so you can act as a private lender working with real estate investors and earning a sizable return If you're broke after reading this book-that's your choice!

Textauszug

Why Listen to Kent?

Listen to me not because I’ve been successful, but because I’ve been banged around so much over the years and learned so many lessons. My hope is you don’t have to go through all the hard lessons I did.

As it stands today, my entire life revolves around time, getting the most out of every minute, and being painfully aware that the clock is ticking on my life. This may sound a little morbid but that doesn’t make it any less true. I’m always working to compress time, which I’ll explain a little later.

I have dedicated my life to figuring out how to get the best out of life as fast as I can and then sharing that journey with others. Which brings us to how I got to this place. How did I arrive here?

I’m extremely fortunate that my father got me involved in business at the ripe old age of seventeen. I’ve had the entrepreneurial drive in me since I can’t even remember. I started in my father’s business, which ultimately became an arbitrage business (that simply means we were trading on the inefficiencies of a market). We were finding products at one heavily discounted price and turning around and selling them in markets where the price wasn’t being discounted.

For example, we would buy a truckload of Peter Pan peanut butter for $40,000 in Miami, Florida, and ship it to Omaha, Nebraska where we sold it for $60,000. We did this thousands of times a year.

From the time I was seventeen until the time I was twenty-three, I sat in the front row with my father and helped to build a $50 million-a-year company. At the ripe old age of twenty-three, I was officially put in charge of the company when my father retired. We took it from $50 million to $90 million in the first year. Our company was purchased, and within a few years, I was effectively running an $800-million-dollar sales organization in the grocery business, based out of Boca Raton, Florida. Over the course of the next three years, we turned this $800 million a year company, with a twenty-seven-year-old kid running it, into a $1.8 billion operation and the seventh-largest privately held company in the state of Florida.

Very few people run multimillion-dollar, much less billion-dollar organizations in their twenties. You can imagine from the time I was seventeen to the time I was thirty, all of this success made me a little bit jaded. My world and my perspective were heavily influenced by my experiences. I did not think I could fail at business because I had not failed yet. I thought it was quite natural to be making hundreds and hundreds of thousands of dollars a year, if not millions. I lived an amazing life on the intercostal waterway in Boca Raton and had all the toys, all the cars, all the watches, the big 401(k). You name it, and I had it.

Fast-forward to March 14, 2000. I had a run-in with my business partners, the owners of the company. Because they purchased my company a few years earlier, I no longer had any ownership. I decided to ask for ownership, and when the president and CEO didn’t go for it, everything changed. In a matter of minutes, this thirty-year-old punk, who was completely full of shit, made a split-second decision to quit and walk out. It changed the course of my life forever.

I quite literally thought I would just be able to go and start my own business and be back on top in a matter of weeks. Instead, over the course of the next twenty-two months, I proceeded to lose every single thing I’d ever worked for. Every dollar, every relationship, every friend, everything I had ever accomplished in my life—it vanished. It was all my own doing.

To put this poor decision in perspective, I will share the magnitude of what I lost. I had more than $2 million in the bank when I walked out the door. Twenty-two months later I had less than $4,000 to my name. I was like a bad gambler, just chasing it all the way down, thinking I was making the right business choices but continuing to make poor decision after poor decision.

In December of 2002, I saw a late-night infomercial about real estate. The speaker was talking about flipping houses. I’d never heard of such a thing. I had no idea that was even possible. I got a few books, I bought a few courses with money I really didn’t have. Yet in a few short weeks I flipped my first house and made $8,000.

One of the biggest lessons I have learned is that if you’re going to build a business, you should build a life based on things that matter—because any business is just a few decisions away from being out of business. It could be the economy. It could be business partners. It could be the government. It could be any number of things that can disrupt your business and effectively put you out of business. So why not focus on something you’re passionate about and put your family first? Figure out how to get the most out of your business, aka control, and own your time instead of being a slave to a business—because in the end, it can be yanked from you in a second. That is lesson number one.

The second story I want to share is about my Uncle John, one of the best mentors in my life. He was somebody I admired very, very much, an executive in the travel business who was well respected in the entire industry. Everybody knew his name. He spent a lot of time with me when I was trying to get back on my feet and rebuild my confidence. When he retired in his early sixties, he had more money than most people could ever even dream of. He had seen the world, but he’d also done a lot of it away from his family.

Shortly after he retired, he was told that he had a form of throat cancer. He began dying in that moment. Here was this great huge man who had a presence, who could control any room in the world, and he was scared. When he heard those words, they scared him.

Just a few months after he was diagnosed, my mother called, telling me my uncle was asking for me because he was about to die. He was in the hospital in Daytona, Florida, so I got in my car in Delray Beach, Florida, and drove as fast as possible to my Uncle John’s deathbed. I remember running down the hallway of the hospital and coming into his room. He was hooked up to so many machines, he could barely breathe. He was a shell of himself—almost unrecognizable. He had this little handheld whiteboard that he was using to try to communicate. He wrote, “Celebrate my life,” and “I just wish I had more time.” Here was a man who could afford to buy just about anything he wanted in the world. He had multiple houses and could afford to go anywhere and do anything. Everything he had worked so hard for in this life couldn’t buy him the one thing he wanted the most right then, which was time. His situation had a profound effect on me.

I held his hand. He knew I was there. I could tell by the way his eyes lit up that he was happy I was there. He passed within a few hours. I’m so grateful that I got to spend that time with him because it changed the course of my life forever. In that moment, I realized everything I had ever thought was important—working hard to build businesses, working hard to be recognized, and having authority and power and people’s respect—none of it really mattered. The only thing that mattered was time. I knew I had to focus on spending time with my kids, my family, my friends, and making a positive impact on the world.

A few months after the hospital visit with my uncle, I was on a Delta flight from Atlanta to West Palm Beach. My wife and daughter had flown out to surprise me at an event. Now, on the flight home, our different itineraries meant we weren’t seated together. I was in 19A while they were in 26E and F.

Midway through the flight, a burnt electrical smell filled my nostrils. I looked up from my laptop to see white smoke billowing down the aisle, which is nothing you ever want to see on an airplane. To make matters worse, the flight attendants freaked out on the overhead speaker.

Here we are, on a plane filled with smoke, alarms now going off and the flight attendants effectively screaming from the speakers. You can imagine the chaos. Your life is flashing in front of your eyes. You conclude you’re going to become a statistic. Everybody is screaming, yet the only people I could hear clearly were my wife and daughter. It was such a massive shock to my system that in this one moment, where my little daughter needed me the most, I actually couldn’t do anything to help her.

In a matter of seconds, the plane went into a dive. I now know that that was what the pilots are supposed to do, although I didn’t then: if they believe the plane is on fire, they go into a dive to try to put out the flames. Well, that’s exactly what we did.

Now real panic set in. The masks dropped into mass hysteria. People were freaking out everywhere. The captain came on to explain we were making an emergency landing in Tampa. It was utter chaos, utter panic, and one of the most frightening experiences I’ve ever had in my life. It was so frightening...

Produkt-Details

• Erscheint lt. Verlag: 6.10.2020
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management
• ISBN-10: 1-5445-1484-0 / 1544514840
• ISBN-13: 978-1-5445-1484-0 / 9781544514840