Behind the Beard | March 30, 2022
Something I'm Reading:
I’ve been listening to the audiobook of Ron Chernow’s “Alexander Hamilton,” the book that inspired the musical. Long but fascinating and a good listen while driving.
Something I Teach
So, I’m on this road trip and I was about to go on a run that I had committed to doing. But I discovered I only had one shirt and if I wore it running, I’d have to wear a sweatshirt in the 90 degree Florida sun the rest of the day. I thought, “Well, I guess I won’t run.” Then I thought, “Wait, it’s my own fault I didn’t wash enough clothes. Don’t let small problems detail me from my big goal.” So I started to run, but within 10 seconds I realized my Airpods were dead. Ugh. I hate running without headphones. So I thought, “Ok, that’s it, I’m not running. I’ll do it tomorrow.” But then, again, I remembered: don’t let small problem derail me from big goals. So I ran - 5.2 miles.
I’m not saying this to brag - many times I do fail and I let small inconveniences derail me. But I’m hoping these examples help you today. Don’t let small inconveniences derail you from your big goals.
Something I Photographed:
Each week I share a photo I snapped in the previous week. Sometimes serious. Sometimes random and funny. Maybe a selfie once in a while. Just because.
Pic taken on my run with my dead Airpods that mentioned above lol
Something I'm Excited About:
I’m giving one of you $15,000! Okay…not exactly but it’s even better. I want to equip one of you with over $15,000 worth of coaching from myself and Jason Drees so you can implement priceless lessons into your real estate, business, and personal life. I’m calling it the Ultimate Performance Coaching Bundle and it’s completely free to enter (thank me later 😉). You’ll get…
1 hour coaching call with myself and Jason Drees
Access to Jason Drees’ Mindset Academy Foundation program
One year access to Jason Drees’ Mindset Academy Advanced program.
So whats the catch? Nothing - just 2 minutes of your time to enter.
To enter:
1. Like my post on Instagram (linked here)
2. Tag a friend or two in the comments
3. Opt in and join ODC’s + Jason’s email list via the link here.
Giveaway is ending next week on April 6th. No purchase required. Must be 21 or older to enter. Yada yada :)
Something I Can Answer:
Every week, I answer a question texted in by you! Reply to this text with your question to be featured in a future Behind the Beard.
Question: “How can you scale fast without moving TOO fast?”
First of all, going from 1 unit to 50 units is a totally different game than 50 to 100 units. I always suggest the stack method as a safe yet effective way to scale. The stack is essentially when your roughly double your units every time - like going from 1 unit to 2. Then 2 to 4 units. 4 to 8 to 16 and so on. Every level requires a different mindset as well as different tactics and strategies. So when scaling, you have to elevate ALL that. You also have to make sure you have reserves at every level when scaling. Things do go wrong. If you screw up on a $100k property, you can probably spend some nights and weekends to earn back your money or survive. If you screw up on a $50mil project, you may be millions out of pocket if something goes wrong. Lastly, understand that your education has to improve too. You need to be able to surround yourself with bigger, wiser, more successful people than yourself. So scale appropriately and I wouldn’t do more than double your portfolio in one shot.
The one caveat to this is you can always harness the experience, knowledge, skills, and mindset of someone else whose already been at that level. You can bring them in and they can help you scale. For example, when I was looking to scale Open Door Capital, I didn’t do it alone. I brought in Brian Murray who had already owned thousands of units and Ryan Murdock who had been a property manager and owned tons of real estate. I brought us all together and we utilized their skillsets, mindset, education, and network to scale.
Your Friend,
P.S. Have a question you want answered by me? Reply to this text with your question - I pick one to answer each week in Behind the Beard and do my best to reply to others directly via text.