His Losing Everything Educated & Inspired John Humphrey

11/28/22 • 34 min

Are you the type of business owner who doesn’t know their numbers and feels guilty because of it? It’s time to fix that.

Our guest, John Humphrey, used to be the same—until that mindset led to his finances spiraling into ruin. Now he runs his business with a new perspective: not only is he dedicated to knowing his numbers, he also works with people with complementary skills and uses a financial management system.

Join us as we talk about John’s career, short-term rental business, money struggles, and how he changed his life by applying a better money mindset!
Key Takeaways:
[00:59] Introducing John Humphrey
[02:50] John’s Career History
[05:55] John’s Epiphanies Around Money Struggles
[09:06] Why You Should Hire Help and Use a Financial Management System
[14:49] Why Do Investors Often Live Deal to Deal?
[18:36] How Losing Everything Inspired John to Educate Himself on Finances
[25:00] How Knowing Your Numbers Makes You a Better Business Owner
[26:41] John’s Current Projects in the Short-Term Rental Vacation Space
[32:10] Connect With John Humphrey
Quotes:
[06:51] “I saw people having really the same struggles, like, it's all about making money, but then when you had the money, they didn't know what to do with it.”
[08:13] “I felt guilty that I didn't have the financial expertise with my money.”
[07:34] “[After using a financial management system] It wasn't just looking at a number—there was a purpose.”
[23:28] “I used to run my businesses pretty much by emotion and going for things...Now [we] have a CFO...we brought in professionals on our team that we never did before.”
Connect with John:

Website: https://www.linxstr.comTired of living deal to deal?

If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David

Are you the type of business owner who doesn’t know their numbers and feels guilty because of it? It’s time to fix that.

Website: https://www.linxstr.comTired of living deal to deal?

Previous Episode

Why He Chose Real Estate and Multi-Family Investing with Sean Thomson

Are you an investor who wants to transition from single-family to multi-family investing?
We’ve got Sean Thomson with us today to give us his knowledge on multi-family real estate investing. He himself has made the jump from working in the single-family space to founding the Thomson Multi-Family Group and working with accredited investors to join his ventures throughout the country.
Join us as we cover multi-family real estate and beyond, including financial independence, self-belief, and more, in this episode of the Profit First for REI podcast!
Key Takeaways:
[00:40] Introducing Sean Thomson
[02:03] Sean on Why He Chose Real Estate and Multi-Family Investing
[07:07] His Current Progress in His Multi-Family Journey
[12:06] Financial Struggles He Experienced in His Journey
[17:06] What You Need to Start in Multi-Family Investing
[24:41] On Sean Working With His Family
[27:52] The Biggest Lesson Sean Has Learned in His Investing Journey
[31:11] Connect With Sean Thomson

Quotes:
[07:28] “I had to convince myself to believe in ME.”
[07:34] “I feel like one of the big things that happen in real estate is you always hear this old adage that real estate investors are extremely wealthy on paper, but they're broke in their bank account.”
[14:17] “We're constantly reinvesting...We're always looking at how to create a better future. And I think that's a very important skill for anybody that's going to be in any business.”.
[28:23] “I think if you think things through—if you really think about the strategies you're deploying, if you do things on a fundamental level that are solid and principled, and if you do your business properly—I don't think losing money is an inevitable inevitability.”
Connect with Sean:
Website: https://www.thomsonmultifamilygroup.com/
Tired of living deal to deal?

Next Episode

Perspective on Why Investors Often Live Deal to Deal with Mike Hambright

Joining us for today’s episode is Mike Hambright, the CEO of Investor Machine, a real estate investor, mentor, and coach. He is also the Founder of the Real Estate Investor VIP Show and Investor Fuel, the top Real Estate Investor Mastermind in the country.

Mike is a prominent figure in the real estate investing world due to his passion for using his platform to provide value to the real estate investing community, dedicated to helping every investor find personal success. He joins us in this discussion to do exactly that.

Catch the full discussion on this episode of the Profit First for REI podcast!

Key Takeaways:
[00:42] Mike Hambright and Real Estate Investing
[05:25] Mike’s Money Struggles
[08:14] Why Should You Set Up a Financial Management System?
[11:47] Why Should You Have Someone Who Knows Your Business’s Numbers on Your Team?
[12:48] Mike’s Perspective on Why Investors Often Live Deal to Deal
[15:57] Advice for the Next Generation of Real Estate Investors
[18:30] On Tenacity and Confidence: Mike Hambright’s One Key to Success
[23:47] On Giving Up Control: The Lesson Mike Learned the Hardest
[26:51] Surround Yourself With the Right People: Mike’s Advice
[28:26] Connect With Mike
Quotes:
[19:19] “Failure needs to be a stepping stone.
[27:02] “Surrounding yourself with the right people.”
[27:57] “You can invest your way up that learning curve.”
Connect with Mike:
Investor Fuel Website: https://www.theinvestormachine.com/front
Investor Machine: https://investorfuel.com/Mike’s Facebook: https://www.facebook.com/mlhambrightTired of living deal to deal?