Create a Self-Sustaining Business-with Dewey Golub-EP73

08/04/20 • 41 min

During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with Dewey Golub, a real estate professional who owns multiple businesses and enjoys a fun, active lifestyle. Dewey shares about the choices he made to create a business that is self-sustaining so that he can prioritize travel and enjoy spending time with his family. Episode Highlights: Dewey Golub began his career in marine biology. He was a divemaster that got into yachting and went from yachting to real estate. His main business is residential real estate but he also has a single-family investment business and a Matterport services company. Dewey tells the story of how he found his Matterport producer on Upwork. Dewey shares how he spends his year skiing and traveling with his family. When they travel, Dewey generally works for a few hours before his family gets up. Then in the middle of the day he'll take calls. He will then work for a few hours at night. Some real estate agents don't have the resources to live this kind of lifestyle. Other agents have the resources to enjoy this kind of lifestyle but don't have the time. Dewey started his real estate team because he was having his first child and wanted more freedom. A team can function as a communal leverage system. His team doesn't work for him, he works for them. He feels that his team could only feel negative about him if the team wasn't delivering on the promises they made. When Dewey built his team he started with a coach. He hired an admin first. His next hire was a buyer's agent he found on Craigslist. A lot of agents have a hard time letting go and giving tasks to other people. Sometimes you need to be disciplined as a leader and cut people loose when they're not a fit for your team. If you want to retain agents, create opportunities. Not everyone is built the same or wants to do the same thing. Dewey talks about how he approached the first few weeks of the pandemic. Dewey reflects on what he has learned about culture from studying teams around the nation. People with similar values gravitate towards each other. Not everyone wants to buy a Matterport, but everyone will have a need for that technology. He feels passionate about how to use content as the new lead generation and marketing platform in real estate. The opportunity to invest in real estate is right at your fingertips. 3 Key Points: If you want to create a self-sustaining business, you need a team of like-minded individuals to support you. The key to retaining agents is to create opportunities. People with similar values gravitate towards each other. Resources Mentioned: Lab Coat Agents website, Facebook, Facebook Group, Twitter, Instagram Dewey Golub Facebook, Instagram Email [email protected] Found Properties website, Facebook, Instagram

Previous Episode

Multi-Family Investing-with Jake & Gino-EP72

During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with Jake Stenziano & Gino Barbaro about their successful multi-family investment portfolio. They share how they created financial independence in just a few short years by becoming real estate investors. Listen for tips for how you can take advantage of this opportunity. Episode Highlights: Jake Stenziano was in a corporate grind as a pharmaceutical rep when he saw the potential in real estate. He started getting mentored by Gino Barbaro and they began looking at deals together. They got a 25-unit deal and never looked back. Gino ran a family restaurant for 20 years. Everything shifted for him when his father passed away in 2008. He knew he wanted to create passive income to support his large family. Gino decided to pursue multi-family units for the cash flow, tax benefits, appreciation, and cycle resilience. Multi-family units address a basic human need. You just have to start. Once you start you have the clarity and you have the accountability. Jake points out that many times in single-family residential real estate the agent is a salesperson. It's different in the multi-family space. As the buyers they have to prove their credibility and why they're going to close the deal. Partnerships multiply and can help you blow things up a lot more. With multi-family spaces, start where you're comfortable. Economies of scale make multi-family attractive. As a real estate agent, you have opportunities to invest. The first thing that you need to realize is that the gold is in the assets. You buy, you refinance the money out, and then you continue to buy. As long as you continue to buy the game goes on because you keep accumulating depreciation to wipe out your taxes. Buy right, manage right, finance right. Many people start out with syndication. The way to be successful in any business is to think of yourself as a farmer. Plant the seed and take care of it. Jake reminds us that debt is a tool. Use that tool properly. They like non-recourse debt through agencies. The more you know about your potential investors, their goals, and how you can add value to them, the better. Time is on your side in multi-family. You don't lead with seller financing. You base your offer on the income approach. If the numbers don't line up, that's when seller financing can come into play. Negotiations are all about listening. Jake explains how they put together their initial down payment for the first deal. You can get in the game if you have between $20-50k especially if you have a partner. They typically do 2-3 deals each year. Look for properties that will bring you cash flow. Buy cash flowing assets. Buy right, know how you'll manage the property, and figure out where you're getting the debt from. You have an opportunity to create massive financial independence as a real estate investor. 3 Key Points: Being a realtor puts you in an excellent position to get started with real estate investing. Multi-family is a long game, just like any other business. The key to the game is to stack assets over time. Resources Mentioned: Lab Coat Agents website, Facebook, Facebook Group, Twitter, Instagram Jake & Gino website, podcast Email [email protected] to get a pdf copy of their credibility book. The Richest Man in Babylon (book)

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Becoming Influential-with Cory Lee-EP 74

During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with Cory Lee, an entrepreneur, speaker, trainer, and leadership expert. Cory speaks about the importance of investing in yourself, how to become influential, and why he wants to be world-famous. Episode Highlights: Cory Lee is originally from Mississippi. In a five year period, he built and sold several gyms and physical therapy clinics. Early in his life he had a hard time with a lack of confidence and needed to build his confidence to be a successful entrepreneur. Cory shares about his upbringing and how his mother and grandmother raised him. Letting your gifts and talents shine isn't arrogance, it's awareness. The world needs your gifts and your talents. Have a vision and direction to guide you in your business. They wanted to create a culture of change within their community. Cory speaks to the importance of adding value to each individual customer. Investing in your own growth is important to the success of your business. Many people don't realize that they may not reach success without taking the risk of investing in a coach. Investing in yourself is one of the best things you can do. Successful people are constantly learning and they never reach the peak. If you're the smartest person in the room, you need to find a new room. Millionaires are often nice people and they will often give away information if people ask. Your comfort zone is not really comfortable. It's familiar. Most successful people want to give back because somebody gave to them. Becoming an influencer is about becoming the type of leader that other people willfully follow because of who you are and what you represent. Comparison limits us from becoming influential. Compare yourself to your potential. Stop comparing yourself to your current results. Think of at least one thing you could do today that would move the needle towards your goal. Write down five tasks that will lead you to your goal and for the next fourteen days in a row, do at least one of those tasks. First, you need to find out where you want to go. People tend to spend their time on things that are unimportant. Write down all of your tasks and responsibilities. Ask what is required. Ask where you'll get the greatest return. Ask what is more rewarding to you. As you accomplish goals, you create habits. Become aware of the habits that are getting in your way. It's not about self-judgment, it's about awareness. How you overcome your failures will define you. Choose your attitude. Your attitude is your choice. Give people your time and attention. Exceed people's expectations. Don't be attached to outcomes. Be attached to your participation. Any time you're doing anything, you're trading your time. Be intentional with your time. 3 Key Points: Successful people invest in themselves and look for opportunities to learn. As you accomplish your goals, you will form an awareness around your habits. Don’t be afraid of reaching out to successful people. They’re often willing to help. Resources Mentioned: Lab Coat Agents website, Facebook, Facebook Group, Twitter, Instagram Cory Lee website, Facebook, Instagram, YouTube John Maxwell coaching resources: website, 3 R’s