The Hardest Lesson Learned with Justin Donald

11/07/22 • 35 min

Time is without a doubt one of our most important resources, but how we spend it often doesn’t get the consideration it deserves. Time is a finite asset we pull from for every single activity we do in our lives, from lifestyle to work, and like any resource, we should be smart about how we invest it.

Our guest today is an expert on the subject. Justin Donald is the author of The Lifestyle Investor, a book all about finding balance between work and personal time, and investing with an emphasis on achieving the lifestyle you want.

His entire philosophy on putting lifestyle first has a fantastic intersection with the Profit First method’s focus on making sure that the owner-investor gets their share. Tune in!
Key Takeaways:
[00:43] Justin Donald

[02:29] The First Commandment: Lifestyle First

[06:35] Why People Live With the Intentionality of Putting Themselves First

[10:17] On the Money Struggles Justin Has Experienced

[14:22] On the Lion Logo on His Book

[18:06] Money Mindset to Pass on to His Children

[22:00] Justin Donald’s Keys to Success

[28:08] The Hardest Lesson Justin Has Learned

[30:36] How Listeners Can Provide Value Back to Justin
Quotes:
[03:36] “For me, the whole purpose of life is to be in control of your time, to be a time billionaire, to really buy your time back and spend it in a way that you see fit.”

[13:33] “You're just a mindset shift away from this abundant place, this opportunity of never running out and having more than you can ever use.”

[26:12] “The more you hang out with people that are bigger thinkers, you're just naturally going to become a bigger thinker.”
Connect with Justin:
Get a free copy of his book: lifestyleinvestorbook.com

Buy a copy: The Lifestyle Investor: The 10 Commandments of Cash Flow Investing for Passive Income and Financial Freedom

Website: justindonald.com

Tired 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

[02:29] The First Commandment: Lifestyle First

[06:35] Why People Live With the Intentionality of Putting Themselves First

[10:17] On the Money Struggles Justin Has Experienced

[14:22] On the Lion Logo on His Book

[18:06] Money Mindset to Pass on to His Children

[22:00] Justin Donald’s Keys to Success

[28:08] The Hardest Lesson Justin Has Learned

[13:33] “You're just a mindset shift away from this abundant place, this opportunity of never running out and having more than you can ever use.”

Buy a copy: The Lifestyle Investor: The 10 Commandments of Cash Flow Investing for Passive Income and Financial Freedom

Website: justindonald.com

Tired of living deal to deal?

Previous Episode

Overcoming Habits and Fears and Developing as a Leader with Joe Theriault

Joseph “Joe” Theriault is today’s guest on Profit First for REI! He’s a real estate investor and owner of Inherited Property Solutions, a company focused on helping people liquidate inherited property. He is also actively involved in rehabs, novations, wholetail, wholesale, and brokerage.

This is one of my favorite episodes so far. Joe goes into the struggles he experienced when he took over the financial side of his business while retaining his old habits. He became unable to pay himself first, stressed over work, and found difficulty managing the company’s numbers.

Everything changed when Joe made the conscious decision to take leadership coaching and apply Profit First in his business, developing his systems and mindset. Check out the whole discussion here!

Key Takeaways:
[00:49] Joe Theriault, His Background, and Journey
[07:39] On Getting Leadership Coaching
[09:29] On His Financial Struggles and the Benefits Profit First
[15:26] How His Business Struggles Affected His Life and Leadership
[19:24] On Being Able to Pay Himself
[22:32] On Overcoming His Habits and Fears and Developing as a Leader
[29:55] How to Connect With Joe

Quotes:

[08:38] “I'm a big fan of...do what other people do. Just do it better...[You] don't [have to] reinvent the wheel.”
[19:13] “[After Profit First,] my ego and money, all that stuff isn’t intertwined anymore.”
[28:22] “Right people, right seats. That's what my coaches are right now, hands down. Right people right seats...That includes bringing you guys in Profit First.”

Connect with Joe:

Facebook: https://www.facebook.com/joseph.theriault.35Email: [email protected]Website: https://www.ipscash.com/

Tired 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

Next Episode

Marketing & Branding Principles To Grow Your Real Estate Business with Sharon Vornholt

Today’s guest is Sharon Vornholt, a real estate investor and business coach. She has been in the property business since 1991, starting with her home inspection business before kicking off a career in investment in 1998.

Since 2013, Sharon has been running a successful blog and podcast, providing value on real estate investing to her audience. She has since expanded into providing coaching services on marketing and the industry for other investors who seek success.

On this episode of Profit First for REI, Sharon’s going to share the wealth of knowledge she has accumulated in her years. Don’t miss it!
Key Takeaways:
[01:41] Sharon Vornholt and her Background

[05:02] Sharon and Her Career as a Marketer

[06:19] Direct Marketing and Branding

[08:08] On Probates

[10:28] On Learning About and Implementing Profit First

[14:43] On Her Money Mindset Then and Now

[16:21] Beliefs to Pass on to the Next Generation of Investors

[22:18] Advice for the Real Estate Investing Community

[24:04] Connect With Sharon

Quotes:

[12:41] “We all understand income and expenses, and you got to have the money coming in to pay the bills. But [the Profit First Approach] is at a much deeper level...it challenges you really to look at money differently.”

[17:03] “I think you have to invest in yourself, you have to invest in your education, because why should you have to learn everything the hard way, when you can get a coach?”

[22:59] “Focus on getting the leads in the door, and focus on your brand–even if you're brand-spanking new.”

Connect with Sharon:
Blog & Podcast: https://louisvillegalsrealestateblog.com

Probate Course: https://probateinvestingsimplified.com/

Website: https://sharonvornholt.com/

Tired of living deal to deal?