Oct. 29, 2024

Real Estate, Resilience, and Impact: The Power of Coaching with Larisa Olteanu

In this episode of From Adversity to Abundance, host Jamie Bateman speaks with Larisa, an inspiring real estate coach and investor, about her journey from humble beginnings to achieving financial success. Larisa opens up about overcoming personal c...

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From Adversity to Abundance Podcast

In this episode of From Adversity to Abundance, host Jamie Bateman speaks with Larisa, an inspiring real estate coach and investor, about her journey from humble beginnings to achieving financial success. Larisa opens up about overcoming personal challenges and the importance of mindset in building wealth through real estate.

Guest Introduction:

Larisa

A successful real estate investor, coach, and author of the New York Times bestselling book Destined for Wealth. Larisa shares her experiences and insights on how a mindset shift can transform your life and career.

Background Stories:

Larisa’s Journey:

  • Born in a small village, Larisa arrived in the U.S. without connections or speaking English. Despite these challenges, she built a real estate portfolio and now coaches others to do the same.
  • Her biggest accomplishment isn’t her portfolio but the lives she’s transformed through coaching.

Client Success Story:

  • Larisa recounts a powerful story of a client named Jimmy who was in debt and stuck in a 9-to-5 job. Within months of coaching, Jimmy transitioned to running a multimillion-dollar business and eventually launched a major coffee manufacturing facility.

Key Discussion Points:

  • The importance of starting with one investment and sticking with it to build momentum.
  • Mindset as the key driver for success in both real estate and life.
  • Balancing the demands of real estate with being a present mother.
  • The value of helping others and the ripple effect of impacting lives through coaching.

Practical Takeaways:

  • Start small, but just start. The journey to wealth begins with taking the first step and staying committed.
  • Shift your mindset to see opportunities in every challenge and think beyond just monetary gains.
  • Building relationships and helping others can have a profound impact on your own success.

Connect with Larisa:

Website: www.unshakablewealth.com

Instagram: www.instagram.com/unshakablewealth

Facebook: www.facebook.com/unshakablewealth

Pinterest: www.pinterest.com/unshakablewealth

 

Free Real Estate Course: Visit her website for a completely free real estate course that offers a comprehensive guide to getting started.

Integrity Income Fund:

https://app.myleadbutler.com/v2/preview/durLfkDjZHoJstX54tWe?notrack=true

Labrador Mentorship:

labradorlending.com/investors/active-investors/

Haven Financial Services:

Learn more: jamie.myfinancialhaven.com/

Purchase Jamie’s Book: www.amazon.com/dp/B0CGTWJY1D?ref_=pe_3052080_397514860

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www.adversity2abundance.com/reviews/new/

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Connect with Jamie

LinkedIn: www.linkedin.com/in/jamie-bateman-5359a811/

Twitter: twitter.com/batemanjames

Transcript

Speaker 0

 

Today, we get a chance to hear from Larissa Altiano. I I know I say this all the time, but this this one is well worth your time. Larissa came to the US at twenty one after having, experienced, an abusive and poverty stricken upbringing. She had no money. I think twenty dollars to her name. Didn't know English. Didn't have a network, slept on the floor at times. And, within four years, she landed her dream job at a Fortune five hundred company and since then has been heavily focused on real estate investing, both single family and multifamily. We get into some of that. And she's a a financial coach and author and really helps, entrepreneurs with financial strategy and empowering individuals to achieve financial freedom. So there's so much to this. There it's impossible for me to do a good job with this this intro. There's so much value delivered, and and the the human element is front and center. And her, just love of service and trying to help other people is very evident through this episode. A lot of practical value for sure, but a lot of inspiration. It it it's one of those, you know, everybody is is dealt a different hand in life, but it's hard to argue with her point that if she can do it, you can do it too. She's reached a high level of wealth and not just material wealth, but just the the human element, like I said, and just the I I don't know how she's able to do it, but but she's clearly, very good at delivering a a relaxed message and listening and really, understanding someone else's problem and delivering value to them. And it's it's obviously worked well for her in her own journey from adversity to abundance. So, definitely, definitely, definitely do not stop the the the podcast now. I highly recommend you play this one all the way through. 

 

Speaker 1

 

Welcome to From Adversity to Abundance, the go to podcast for real estate entrepreneurs seeking not just to thrive, but to conquer with resilience and mental sharpness. Each week, join us as we dive into the compelling world of real estate through the lens of mental fitness, where challenges transform into opportunities. Get ready to transform your mindset and expand your understanding of what it takes to succeed in real estate. Let's explore these stories of triumph and resilience together. 

 

Speaker 0

 

Welcome everybody to another episode of the from adversity to abundance podcast. I'm your host, Jamie Bateman. And today, I'm excited to have with us Larissa Altenew. No. I said it wrong. Can you say your last name for us, Larissa? 

 

Speaker 2

 

Altenew. 

 

Speaker 0

 

Altenew. And you also go 

 

Speaker 2

 

by light. Mhmm. Like, those raw r's are 

 

Speaker 0

 

The rolling r. 

 

Speaker 2

 

The rolling r. 

 

Speaker 0

 

You said you'd forgive me. So 

 

Speaker 2

 

Yes. A hundred percent. 

 

Speaker 0

 

So, Larissa, for the listener who's not familiar with you, who are you, and what are you up to today? 

 

Speaker 2

 

I am an investor, an entrepreneur, a philanthropist, and a wealth coach. Today, I run my business, and I also the coaching business as well as well as, educational. So it's an umbrella of services that we provide. And I also run my investment portfolio in single family and multifamily. Perfect. So, yeah, it's been a long journey, but that's in a nutshell where I'm at today. 

 

Speaker 0

 

Awesome. And what's the name of your coaching business? 

 

Speaker 2

 

Unshakable Wealth. 

 

Speaker 0

 

Love it. Awesome. So your story is is fantastic for for our podcast. I think it fits perfectly, and I'm excited to dive in and learn more about it. Let's jump back. Where 

 

Speaker 2

 

where 

 

Speaker 0

 

are you where were you born? Let's go there. 

 

Speaker 2

 

I was born in Moldova, which is the poorest country in Europe. So we are number one at something. Whoop whoop. 

 

Speaker 0

 

Nice. 

 

Speaker 2

 

But not only that. I mean, we're also known for wine. We have a cellar that is over a hundred kilometers, drive through. So you actually go into the cellar with the car and check out all the good wines that we have there. So, yeah, it's been an interesting journey, in my country in terms of the things that I've learned that I was able to take with me throughout life and apply and the adversities that I had specifically in the poorest country where survival is a real thing. That's what we constantly focus on at the time that I was growing up. Things have gotten a bit better now, but 

 

Speaker 0

 

when 

 

Speaker 2

 

I was working up, it was pretty hard. 

 

Speaker 0

 

Okay. So, obviously, we're gonna skip over some some phases of your life. So just in a nutshell, what did the first two decades of your of your life look like there? 

 

Speaker 2

 

The first two decades of my life were very So my father was a an So my father was a an alcoholic, which was actually a STEM dad. And I have witnessed all kind of physical abuse to my mom, so I would get in front of them and try to protect my mom from him. I mean, one morning, I woke up when I was six, and I walk into the kitchen, and I witnessed my stepdad holding my mom by one foot outside of the window, and we lived on the fifth floor. So it was an apartment building that had nine floors, and we lived on the fifth floor. And she's screaming, and he's getting ready to let her go. Wow. And it was terrifying, but my response was, you know, hey. How can I solve it? Because that that was the immediate thing that I've learned. Solve this. Protect. Mhmm. So I leaned closer, and I started talking to him. So he pulled her out, said, you're lucky you have a daughter. And, obviously, as a child, I wasn't thinking of the trauma that I was experiencing. I was like, okay. My mom is safe. Sure. Thank god. Right. 

 

Speaker 0

 

Yeah. We got through this, but but, I mean, the the the aftermath, I can only imagine. Not just from that incident, but it sounds like 

 

Speaker 2

 

Yeah. Many This was one of the most dramatic one. There are other dramatic ones too, but it was the norm. Also, it was interesting because we were pretty poor. 

 

Speaker 0

 

Mhmm. I mean, 

 

Speaker 2

 

there was one point where we were sharing food with cats with our cat. But he and his brother had a metal company before we really went, like, sharing food with a cat. And they were in the nineties making a hundred thousand dollars within months, and that's from Moldova, and that's in the nineties in the poorest country in Europe. And what I've witnessed 

 

Speaker 0

 

Yeah. That's, like, a million dollars now here or something. I mean, that's maybe not the 

 

Speaker 2

 

I I should, like, do the math, but I feel it was, like, huge. You're probably right. It was a lot. And I witnessed a lot of drinking parties, a lot of gambling, women, and all kinds of destructive behaviors that just made that money go away, and it never resulted in anything good for them. So Wow. Quite an experience for that. I 

 

Speaker 0

 

yeah. But, man, that is a lot. I and for the listener, I I didn't know most of that before we hit record, so that's some heavy stuff for sure. Obviously sorry. You had to go through that. Sounds like, you know, from knowing some about the rest of your story, it sure sounds like you've been able to use some of that, the the pain and and trauma that you experienced and the just the lessons you learned through that and turn it around. Hence, from adversity to abundance, put yourself in a better environment, better situation. So at twenty one, you came to the US. How did you come to the US, and what were the conditions like at that point? 

 

Speaker 2

 

Yeah. So before we go to that, I just wanna mention something. There was two inflection points as you mentioned. So I I wanna kinda Yeah. 

 

Speaker 0

 

So it 

 

Speaker 2

 

was a lot of adversity, but I wouldn't change it. That's a that's a great point. Who I am today. 

 

Speaker 0

 

I love that. 

 

Speaker 2

 

And that's number one. Number two, I I've gained skills of how to deal with angry people, you know, how to talk to them in a way that calms them down and makes them more rational rather than operating out of their instinctive human parts of the brain. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

I, then what happened so the two affliction points. One was, again, around seven years old when they were sitting the bro the two brothers were sitting in our living room, having their coffee, smoking their cigarettes, and talking about, hey. We can have this money under a mattress. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

We have to invest in real estate. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

Because no matter what happens in the world, people will always need a place to live. 

 

Speaker 0

 

It's very true. 

 

Speaker 2

 

Yeah. I wish they would have followed with this situation. 

 

Speaker 0

 

Right. But that planted a seed for you? 

 

Speaker 2

 

That did. That really did. And then once I came to US, I will circle back to that and see where it had played out. 

 

Speaker 0

 

Oh, that's great. 

 

Speaker 2

 

Second inflection point is, obviously, I was so eager for my mom to just separate from this because I just couldn't with all of this mess anymore. I'm like, I want peace. So they finally split up, but my mom didn't have an education, so she can find a job. At sixteen, she left me and my four year old brother completely on our own and moved to Italy to get a job. So I found myself a teenager with a four year old in my hand to Wow. For a week, and I had to learn how to budget and cook and everything, like, become basically a single parent overnight. That, again, I wouldn't change it for anything because it played out in different ways throughout the Yeah. Road. So I'm gonna I'm gonna shift and and bring those moments back. 

 

Speaker 0

 

No. I love the two teasers and the fact that you pointed out that those were two inflection points. And, you know, at the time, though, I'm sure you weren't thinking, oh, I'm gonna learn so much from this. This is I I would not change this. This is so great that, you know, what I'm gonna gather from this. I love adversity so much. I want more adversity. So how do you, for the listener and because we all face adversity, and will, you're you're gonna face more adversity, right, I mean, in in your life, and, we all do. So how do you recommend people approach that? And, again, we're not every situation is different. But maybe today, are you more able to see, that that an adversity might be a blessing in disguise? 

 

Speaker 2

 

A hundred percent. Yes. 

 

Speaker 0

 

Okay. How do you do that? 

 

Speaker 2

 

That's the first step. So when you are in pain, when you're hurting, when you're like first of all, a lot of people go back to why is this happening to me. Right? 

 

Speaker 0

 

Yeah. So Yeah. 

 

Speaker 2

 

Reframing that, what do I need to learn from where I am today Yeah. To take to the next level? Because if you're not experiencing big things in your life in terms of adversity 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

You're not meant for big things. 

 

Speaker 0

 

Wow. That's really good. 

 

Speaker 2

 

You're being molded and shaped and given all the skills that you need to go to the next level through the adversity. Now that is really hard. 

 

Speaker 0

 

Right. It's easy to say that. Right? 

 

Speaker 2

 

Yes. It is really easy to like, for me to stand back and say, hey. Yeah. Cool. I've been through this. I've got out. I experienced adversities today, and I I, like you know, I've experienced them throughout the whole journey. 

 

Speaker 0

 

Mhmm. And 

 

Speaker 2

 

I feel overwhelmed sometimes. And I do go through moments of depression, and I'm like, okay. Here's how I do it. Like, literally, here's a tip that I I stop on the tracks and and get myself back to it. I'm like, okay. I understand this is overwhelming. I understand. Okay. You're I'm not feeling good. I'm not feeling in my normal motivational state. Sure. Let me take it one step at a time. What's the first step? 

 

Speaker 0

 

Yeah. Yeah. That's just to get a a little bit of momentum and then get some traction, and then you can get unstuck, and then you're less in the victim mindset. Right? And 

 

Speaker 2

 

Mhmm. 

 

Speaker 0

 

Get to that more abundance, mindset. So Yeah. Yeah. 

 

Speaker 2

 

And then the next question that I ask is 

 

Speaker 0

 

Okay. Yeah. 

 

Speaker 2

 

What do I need to learn? Like, why not on why am I here, but what are the things that I need to learn from this right here and now? Sure. And then the other thing is looking back in your past and not judge yourself for the past, but thinking, I was in this situation. What did I learn from that? And a prime example that I can give on this one is Yeah. I invested into a single family house. Mhmm. And it was hurricane Harvey. The area was the first time that it flooded. It was a beautiful if not flooded, it was in the neighborhood golf course neighborhood, beautiful seven to eight hundred thousand dollar home. And it flooded, and it was a deal. It was, like, two hundred thousand dollars. So Yeah. I bought it. We went through the renovation and put it on the market. And two months or less than two months from the moment that we started to putting it on the market and being on the market for a bit, another flood comes through. Smaller, not big, nothing that he got inside the house or anything like that. But, again, it blew up on the news. Hey. This area is getting flooded again. So Right. 

 

Speaker 0

 

It kills the demand for that the market and properties in that area. Sure. 

 

Speaker 2

 

Yeah. And with that, it's like, okay. I have lost money on that house. 

 

Speaker 0

 

Yeah. Mhmm. 

 

Speaker 2

 

Forty thousand dollars. 

 

Speaker 0

 

Right. That's 

 

Speaker 2

 

That was the only the first and only home that I have lost money. 

 

Speaker 0

 

Gotcha. 

 

Speaker 2

 

Now why am I thankful for that? Because now I can think through a property in different ways. Hey. What can I do with this home instead of being like, okay? I'm having it for sale. I'm gonna try to sell. I'm gonna try to sell. Right. The other thing is what could I have done differently? Maybe looking at the price and dropping the price faster. You know, like, all of those, what did I learn from this experience 

 

Speaker 0

 

Sure. 

 

Speaker 2

 

And now I can apply it. And when you go back in the past, there's a lot of these experiences 

 

Speaker 0

 

Right. 

 

Speaker 2

 

Which is kinda leave them behind and move on, but taking a look, nonjudgmental look, and learning what did what are the things that I can take and apply. 

 

Speaker 0

 

And I just wanted to highlight the nonjudgmental part, which you've said twice, but it's easy to gloss over the you know? Because I know, for me, I don't always have the most self compassion. You know? And it's easy to view yourself in a negative light, your past self in a negative light, because you have the the luxury of hindsight, and you and you have hopefully learned some lessons from it. And so, yeah, you look pretty bad if you look at it through that lens, like, because you wouldn't necessarily do the same thing today. But, also, some of that was out of your control, the fact that there was a second flood. And, look, you were doing the best you could. And most most serious real estate investors have lost money on deals, so it's not uncommon at all. But I think having that self compassion is critical in in when you're doing that reflecting. I I couldn't agree more. 

 

Speaker 2

 

Yeah. It's interesting. Someone in in my journey asked me, how do you think you're a pretty judgmental person? No. I kinda look at people the way they are. I accept the way they are, and 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

That's how I roll. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

And they're like, okay. How hard do you judge yourself? 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

I'm like, well, I try not to, but there are moments that I I would kinda look and say, hey. You know, could have done this, could have done that. Right. And they they looked at me and said, do you know that those two are equal? 

 

Speaker 0

 

Yeah. They're the same thing. And then also, I think and not not to go too far in this, but I think it can speaking from personal experience, it can you're too focused on criticizing yourself. It really does hold you back from showing up as your best self, the best version of yourself for others. Really silly example maybe, but I play a lot of pickleball these days and, you know, that I might make a bad shot, and then I'm just overanalyzing in the moment what I did wrong and blaming myself and then realize we've we've already started the next point. And I'm not being a very good partner right now because I'm beating myself up about, you know, something that I mean, look. It's pickleball. Doesn't matter. But but it but when you apply that to bigger things in life, and it's easy to get so focused on judging yourself that it actually does hurt others too, I think, because you're not there for them, as much. So, again, speaking from personal experience. So let's go to to age twenty one. You get to the US. How did you get to the US, and and what were the conditions like when you got here? 

 

Speaker 2

 

So I was at the university in Moldova, and they were given an opportunity to go to US for three months and travel for the fourth month. So you go, you get a contract, you work, and then for the save some money, and for the fourth month, you travel. So I borrowed the money to because when we were living just by ourselves, it wasn't enough money. We're living on a hundred and thirty three dollars a month, and most of that half of that would go to my brother's medication. So we had billed out touries knocking at our door constantly. And, yes, my neighbors would come and hook up the light illegally because we couldn't afford to pay it. So 

 

Speaker 0

 

You gotta do what you gotta do. Yeah. 

 

Speaker 2

 

Yeah. So I had to borrow the money. I came to US, and I was in in Galveston, Texas. 

 

Speaker 0

 

Okay. 

 

Speaker 2

 

I by the way, I thought it was a beautiful beach. Like, I came with 

 

Speaker 0

 

It's all relative. 

 

Speaker 2

 

US Florida in mind, and then I I land for some I I I didn't go to Google to look. I just didn't. That's my my thing there. Just so I land, then I'm looking, and I'm like, oh my gosh. That does not look like what 

 

Speaker 0

 

I was expecting. Got it. 

 

Speaker 2

 

But my first job was a server. And it was it was actually funny because when we got there, they were testing us on English skills to determine what kind of position we'll get. So whether you could get get a boss boy, host, or server. So I was sitting next to a girl from Moldova who was studying English as our major in college. And I turned to her and I said, hey. How do I say that I'm from Republic of Moldova and I go to technical university? So she told me that and oh, and I asked her my name is. So the lady goes around, comes to me, and I'm like, hi. My name is Larissa. I go to Technical University of Moldova, and then I just smile. Well, with that, she decides that my English is perfect. 

 

Speaker 0

 

Right. Yeah. You you shot yourself in the foot by looking good. 

 

Speaker 2

 

And then I start the service. So, it was it was really interesting because I I get to the first table, and, of course, I don't know anything what they're saying and then point me at the venue. And then they call the manager afterwards and tell him that I got it all messed up, and they packed up the order and left. So 

 

Speaker 0

 

I mean, that's hard enough. I was a you know, I I did that as well, and I'd like to think my English was was pretty decent. You know, and, but learning a new menu, I I've been in that position without the language challenge. Put it that way. And that was challenging enough to figure out, wait. What am I I don't know anything about this menu, and, you know, people can be difficult. And, also, they are paying for a good experience. So, yeah, man, I can only imagine I think I think that's a great job for any young person to to do really is because you practice so many skills, listening skills, and you you're just on your toes figuratively and literally, like, through your whole shift, and you're just there are a lot of things to juggle mentally. But so you're a server, and what are your living conditions like at that time? 

 

Speaker 2

 

We were renting an apartment. There was a lot of us living in that two bedroom apartment. So we were we're sharing that, and, it was first we kinda shared our hotel room, and then we moved to the apartment. And it's interesting because you mentioned about the learning skills that you acquire as a server. So back to one area that I was able to apply those skills of calming someone down or speaking the way, I needed to speak to to resolve the conflict that was happening at home. The same thing when I became a server. It got to the point that my manager would send me whenever somebody was drunk and somebody was creating troubles because I knew how to calm them down. Wow. I was making the most tip because I knew how to communicate, in a calm and very connectable way, and that served me well through the real estate world too because it's a people's business. 

 

Speaker 0

 

Sure. Absolutely. I think that's critical. It's not just the words of the of the language. It's that human, there's nonverbal in the tone, you know, and and all that that's probably more important than the words you're speaking 

 

Speaker 2

 

Yeah. 

 

Speaker 0

 

Moments like that. Yeah. 

 

Speaker 2

 

So I worked for three months. I paid it back, and I was left with around five hundred dollars. Okay. 

 

Speaker 0

 

And I 

 

Speaker 2

 

was like, okay. Well, I can go travel America with five hundred dollars. The people that came, most of them too because we were it was a group of students. Mhmm. Many of them didn't borrow. So I borrowed. Mhmm. I had to return that. And I'm like, maybe I travel around the cities, whatever cities Houston has. Well, my luck with hurricanes. Oh, no. Hurricane, I comes. So we have to evacuate Houston. So we spend the funds or I spend the funds with some friends. Again, the students and us kinda getting a person and car, whatever, booking hotel in Dallas. So needless to say, I get to the airport after all of this stuff is over and done, and I'm sitting on the chair, and I have twenty bucks, my ticket, and the decision to, like, do I go, or do I stay? 

 

Speaker 0

 

Wow. Twenty dollars. No great your English is probably 

 

Speaker 2

 

Three months in. 

 

Speaker 0

 

Three months in. No real, network. So that I mean, in in established here. And so, yeah, what's going through your mind? How do you how do you make the the decision for the next step? 

 

Speaker 2

 

Terrified. I was so sick that I wanted to vomit. Like, my nervous system was like, okay. I obviously, like you mentioned, the network was friends that came from the same point as I came. 

 

Speaker 0

 

They're in their own bath. 

 

Speaker 2

 

We're all waiting to go, like 

 

Speaker 0

 

They don't have any advantages that you don't have. You know, they're not super helpful in in 

 

Speaker 2

 

Yeah. Like, they're just going back. So goodbye, everyone. 

 

Speaker 0

 

Right. 

 

Speaker 2

 

And I I just for some reason, I had this feeling in me that I just didn't wanna leave. Like, I was watching my friends because there was a lot of shuffling in the flight. Some were canceled. Some were delayed. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

And some of my friends were there at the kiosk crying, but I wanna get home. But I wanna get home. 

 

Speaker 0

 

Right. Right. 

 

Speaker 2

 

And I'm sitting there. I'm like, I don't wanna go. Right. Yeah. I'm so terrified. I'm scared. 

 

Speaker 0

 

Yeah. I mean, I can understand why you didn't wanna go back based on what you've already shared, but it's also not really comforting to stay here, I would imagine. So somewhat both are, you know, both are somewhat bad options at that point, but sounds like you trusted your gut at that point and decided to stay here. Right? 

 

Speaker 2

 

Yes. So I decided to stay, and I had someone so the the airport, some friends of mine had a person from the west that brought them to the airport. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

I didn't know the person very well, but I figured, hey. He has a phone that I I can use because it's a US phone. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

And I met this guy who was a chef at the restaurant. 

 

Speaker 0

 

Uh-huh. 

 

Speaker 2

 

So maybe I can, like, I I'll I I can call. Maybe he can let me call. So I call, and, Martin, and I'm like, can you come pick me up? I think I wanna stay. 

 

Speaker 0

 

Well well, I love the fact that, you know I mean, I guess you didn't really have any other choice, but you're the the fact is you started looking for opportunities and solutions at that point. How not not so much poor me. This is terrible. I'm stuck here in the US or or I just I don't wanna go home. I don't wanna be here. You started looking for yeah. You found a phone. You found a person who you knew and and connected with that person, and then, sounds like you never looked back. 

 

Speaker 2

 

No. No. Never looked back. So I started I I went back to working as a server and started the process of changing my paperwork 

 

Speaker 0

 

Got it. 

 

Speaker 2

 

From, like, whatever visa that I had and then went through several visas because my big thing was stay here legally. 

 

Speaker 0

 

Mhmm. I 

 

Speaker 2

 

do not wanna stay here legally. So I went through, two visa changes to make sure that I so the last visa, like, which was my my ultimate goal was a student visa. So I went to a regular community college, applied there, started the courses. I was working and was paying my way through college, went to transfer to university, finished. While at university, I was looking at the list of the employers. I'm like, okay. Who is the top? Because that's who I wanna go to. And then my strategy and I'm like and that's how I think my brain works in general for anything that I approach. Like, how do I get to Jamie? Like, what do I know about Jamie? What can I learn about Jamie and how I can get in contact with Jamie? Right? 

 

Speaker 0

 

Manipulate me right now? 

 

Speaker 2

 

No. No. Not at the end. It's really doing your homework. 

 

Speaker 0

 

Yeah. Sure. Because 

 

Speaker 2

 

a lot of what I see is people kinda wait for stuff to fall 

 

Speaker 0

 

Sure. 

 

Speaker 2

 

Into their lap. 

 

Speaker 0

 

Right. 

 

Speaker 2

 

But those that are really succeeding and for you who is listening 

 

Speaker 0

 

Right. 

 

Speaker 2

 

It's not a born skill. It's actually an acquired skill. It's preparation and intentionality. 

 

Speaker 0

 

I love that. And preparation, intentionality, also proactivity and creativity. I I mean, because because the plan never goes to plan. Right? You you they it doesn't you don't execute its plan. It is imperative you have that intentionality in that plan, but it's never gonna go the way you think. So you still have to be creative and proactive and and instead of waiting, like you said, and wait for everything to drop into your lap. So but, yeah, I I don't want you to find me because I don't you know, your luck with hurricanes, you know, scares me. No. I'm kidding. I'm joking. But, 

 

Speaker 2

 

I'm kidding. Saying it's, like, from, like, the perspective of in general, like, how 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

It's not so much how do I, you know, like, create some fake 

 

Speaker 0

 

Yeah. Yeah. No. Right. 

 

Speaker 2

 

It's more of how do I intentionally care about the person? How do I intentionally care about the company that I'm going to interview? 

 

Speaker 0

 

Right. 

 

Speaker 2

 

How do I intentionally care about everyone that I come in contact when it comes to real estate? 

 

Speaker 0

 

That's so good. Right. 

 

Speaker 2

 

How do I learn about them as a human being? 

 

Speaker 0

 

Right. Well and I think it's that that's what I'm glad you, you know, clarified or pushed back or whatever, and because it is it's more about the other people, and so you're really trying to serve other people. Not and when you're a victim and and take that mindset, which we all, you know, fall into at times, you're focused on yourself, like like I said earlier, and you're you're not showing up for other people. So, yeah, it's not some sleazy sales tactic or, manipulative, you know, tactic. It's it's to actually solve a problem, and and you do that through listening and understanding where other people are coming from. And then, oh, by the way, that helps you as well. 

 

Speaker 2

 

Yeah. Because at the end of the day, you know, we regardless of what we do, real estate, not real estate, at the core of it all, we are humans. 

 

Speaker 0

 

Right. Absolutely. 

 

Speaker 2

 

And caring about the other human on the other side, it's what's gonna stay Yeah. With them. 

 

Speaker 0

 

For sure. 

 

Speaker 2

 

Because when it all said and done, when and, you know, the it's not uncommon for someone to go up and then completely fall down. And it could be, like, for reasons that we had control or for reasons that you didn't have control. 

 

Speaker 0

 

Sure. 

 

Speaker 2

 

And I love that you mentioned, Jamie, about making plans, and they might not go your way. You know? I I love this saying is if you wanna make God laugh, create a perfect plan, expect it to to happen. 

 

Speaker 0

 

Right. Yeah. 

 

Speaker 2

 

But but that's the the thing is, like, it's it's it's a human. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

And when you get to that bottom, let's say, because you could control or could not control. 

 

Speaker 0

 

Right. 

 

Speaker 2

 

Is there people that are gonna care about you? Are there people that you would care about, like removing everything that you have? 

 

Speaker 0

 

So that's 

 

Speaker 2

 

the ultimate question. Like, did did I learn about Jamie to love him the way he is Right. In terms of, like, as a human, as a person. And I am big in faith, so I would say as my brother in Christ. 

 

Speaker 0

 

Yeah. No. It make makes a lot of sense. I love love that. Okay. So for from you go from age twenty one, to sounds like age twenty five, that four year period was an incredible growth spurt, if if you will. Talk us through those four years. 

 

Speaker 2

 

So very, very, interesting time, going to college and paying off that college while working, getting the internship with the company, and then coming on board. And then as soon as I came on board, I was like, okay. Basic human need. K. Real estate. 

 

Speaker 0

 

Sure. 

 

Speaker 2

 

I started investing in a four zero one k, and I actually blindly went in. And I was like Mhmm. Oh, I kinda like twenty five, and I don't know what this is. 

 

Speaker 0

 

Yeah. Right. 

 

Speaker 2

 

I think I like like That's how we all are. That. You know, like 

 

Speaker 0

 

You just Right. You 

 

Speaker 2

 

Like a checklist checklist done done. Whatever. It will do its match. No clue. 

 

Speaker 0

 

Mhmm. Sure. How would you have a clue at that point? Right. 

 

Speaker 2

 

Completely different financial system. One, I didn't really learn the financial system in my country because I was on survival mode. 

 

Speaker 0

 

Right. But it may not have been too applicable anyway 

 

Speaker 2

 

Exactly. And then I come here, and I'm like, four zero one k. I have no idea what it is, but they say I should invest in it. Okay. And I'm just gonna slap some numbers in here Right. And then Sure. Cross my finger and try and say, I did invest in the four zero one k check mark. Because, you know, like, when you do the onboarding, they're just like, consider doing this and doing this and doing that. 

 

Speaker 0

 

It is. It's interesting. The guy who, I think, wrote the the code for congress who created you know, he wrote the four zero one k law, basically. He's like, I never intended the four zero one k to be this this the end all be all of of retirement for for Americans. You know? It just it's it could be it can be a good vehicle, you know, and and everyone it maybe is a controversial topic, but it's such the default retirement vehicle because of the match. But, ultimately, it's also meant to kinda keep you tied to your employer as well. So it just the fact that there are alternatives to it, you know, it doesn't mean it's bad, but it's one it's one vehicle. But but so talk more about the kind of, you know, how you got into wealth management and investment strategies. 

 

Speaker 2

 

Yeah. So on the four zero one k topic 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

You can imagine my delight when I learned that you can combine that with real estate and actually make it work for you rather than what you just mentioned, Jamie. So I'm gonna come back to that later. Stay stay tuned, y'all. Y'all hey. You'll see. Lots of teasers along 

 

Speaker 0

 

the way. 

 

Speaker 2

 

Yeah. And I picked up the y'all, so you you 

 

Speaker 0

 

know Alright. 

 

Speaker 2

 

Texas. Galveston. But I went to a seminar. Okay. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

Like, okay. I I've got to get into real estate because no matter what, real estate is what people are gonna need. They're gonna need a place. So I went to your seminar, and one thing that is just I thought at the time is like, hey. Find someone who does already that can help me like, show me what I need to do. At least give me a good push, and then I'll I'll figure it out. Now before just before I just I just wanna mention something. Before that, I was going to a house party in one of the expensive neighborhoods in Houston. 

 

Speaker 0

 

  1.  

 

Speaker 2

 

So I'm in a car. I'm driving through this neighborhood, and I see these massive houses. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

So the first thing the first question that comes into my mind is, what the heck do these people do? 

 

Speaker 0

 

Yeah. Absolutely. 

 

Speaker 2

 

So they can afford living in this place. And then the second question is, why do they need these big hats? 

 

Speaker 0

 

Right. You 

 

Speaker 2

 

can drive a bike through the whole thing. 

 

Speaker 0

 

I I I still ask myself that second question sometimes. But 

 

Speaker 2

 

It was it was interesting. I mean, I think, like you said, you ask yourself this, and sometimes we need that check. You know? Like, really need fifteen bedrooms. And 

 

Speaker 0

 

Right. No. That's that's yeah. So you're you all of a sudden, you're exposed. You were exposed to, we'll call it extreme wealth. You know, whether whether you still think that or not, I don't know. But you were exposed to the next level that you didn't even know was was possible probably at that point. And so 

 

Speaker 2

 

Hundred percent. 

 

Speaker 0

 

And okay. And then you like you said earlier, you you try to find somebody, like, who can help you. And how did that go? 

 

Speaker 2

 

Yeah. So when I went to that party 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

I I'm wondering what do the people people do. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

I get there, and so we start talking about and the owner of the home, tells me he does real estate. Uh-huh. Light bulb. So he's saying that he's been investing in real estate, mostly single family. He's been doing that for a while. Mhmm. And he evolved into commercial too. Mhmm. And while I'm in the search, right, I I experienced this in US, and I have that little sparkle, infliction moment from my childhood. So I'm like, I need to put this into gears. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

I really need to find Yeah. Like, I knew I could probably ask him some questions, but if I pay someone 

 

Speaker 0

 

Sure. 

 

Speaker 2

 

That will get me more incentivized, and then they will put it they will give me also their time. 

 

Speaker 0

 

That's a good point. But both sides yeah. That's a good point. Yep. Absolutely. 

 

Speaker 2

 

Because a lot of times when you get free mentorship, it's more like, hey. When I have time, which is understandable. They run their stuff. 

 

Speaker 0

 

Well, that and and both. You like you said, you don't value it as much either if you don't put anything into it. So any any financial commitment. So okay. So that was the your first teaser with your from your the two brothers sitting at the table talking about they they should invest in real estate. Yeah. And now 

 

Speaker 2

 

it's So then I 

 

Speaker 0

 

your second reminder, second kind of slap in the face, if you will, about real estate. 

 

Speaker 2

 

I think it was kinda God's nudging. 

 

Speaker 0

 

Got it. 

 

Speaker 2

 

I go back to, hey. Where who I am or what I am or what I have or what I don't have. It's all god. 

 

Speaker 0

 

Sure. 

 

Speaker 2

 

But it is through these moments in life that brought it. So then I I went to the seminar. I get I get excited about it. I'm like, okay. I'm signing up. I don't have the money. It's like eight thousand dollars. What what what am I gonna do? 

 

Speaker 0

 

Right. 

 

Speaker 2

 

Well, I'm gonna spray and scrape everything I have, and then I'll probably get a credit card, which, yeah, I I did, and then I'll put it on credit card. Credit card, again, not something that my country does, something that US does. So, like, that's I wanna do it, so I am going to do it. So, yeah, from there, what happened is as soon as I join, I join in October, every single night after work, I would come home and stay for a few hours looking, looking, and looking for homes and running and running numbers. And sure enough, October came December. I had my first property under contract. January, I closed. And Were you 

 

Speaker 0

 

looking was this, gonna be a rental or fix and sell? 

 

Speaker 2

 

Rental. Okay. Got it. Rental. So I bought it for about ninety six thousand. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

I put I got it through hard money. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

Because, again, I I don't have the twenty percent. Right? I'm like Right. What can I use to be resourceful? 

 

Speaker 0

 

So you found the hard money lender for the down payment and also got a a conventional mortgage because you were working. Yes. You could qualify for a mortgage on this or a regular bank loan as well. Okay. So 

 

Speaker 2

 

Yeah. Alright. Things have gotten easier now. Like, right now, you don't need to have a job to do a conventional. You do a DSCR. 

 

Speaker 0

 

Right. Exactly. 

 

Speaker 2

 

Docs, and you're good. At the time, yeah, like, I remember that person that, his name is Daniel that I met. Mhmm. One thing that he said, e p o w two. 

 

Speaker 0

 

That can still help for sure, but but you're right. The the DSCR option, you know, where for any listeners not familiar, where, essentially, you're qualifying for the loan based on the the past or projected revenue from the the investment property itself. So you're the rental income should pay for the mortgage that you're getting on the property, and you're not qualifying based on they may run your credit, but they're you're not qualifying based on your income, your personal income. So, I mean, I've gone that route many times, and it's a it's a great option. So okay. So how did that first property go for you? 

 

Speaker 2

 

Yeah. So it was a a great property. I got it remodeled. It wasn't a heavy remodel, but still needed paint, flooring. You know, nothing what I mean heavy wasn't, like, moving walls or Sure. Plumbing or anything like that. And right away was cash flow on two hundred and fifty dollars. So and capturing about thirty five thousand dollars worth of equity in it. 

 

Speaker 0

 

And that's with the hard money loan still? 

 

Speaker 2

 

That's with the hard money loans still. 

 

Speaker 0

 

Nice. 

 

Speaker 2

 

Yep. Everything all said and done. And out of pocket, I was six k. 

 

Speaker 0

 

Wow. So great. Yeah. And then eventually, I imagine you paid off the hard money loan. Right? 

 

Speaker 2

 

Oh, yeah. So out of pocket after, like, both closes. So like you mentioned, it was hard money. Yeah. It was hardly anything out of pocket when I did the hard money. And then when I did the conventional, that's 

 

Speaker 0

 

the the hard money. Got it. Understood. 

 

Speaker 2

 

Yeah. Paid the hard money, and that was when I did the six k out of pocket. And, yeah, that home, it was nothing fancy. I mean, 

 

Speaker 0

 

it's just 

 

Speaker 2

 

Yeah. Simple neighborhood, rented it out. Of course. Again, the the the advantage of going through someone that has already done it Yeah. It's huge because they had the hard money lenders says, like, hey. You can contact x y z. 

 

Speaker 0

 

Right. You're plugged into their network right away. Right? 

 

Speaker 2

 

Exactly. Exactly. Lenders, rehab people 

 

Speaker 0

 

Right. 

 

Speaker 2

 

All, like, the the the like, how do you screen tenants? I would 

 

Speaker 0

 

have Yeah. Out that anyway. Stuff. Right. I mean and some people may say, like, eight thousand dollars. That's crazy. You know? Maybe that's even I mean, that would be twelve thousand. I don't know what year this was, but, you know 

 

Speaker 2

 

Two thousand and fourteen. 

 

Speaker 0

 

So if you put 

 

Speaker 2

 

it All year ago, it's still a lot now. 

 

Speaker 0

 

Let's say ten thousand. You know, it's still a lot. It's a lot of money, and there are some charlatans out there, and there are some people who you should not necessarily cut a ten grand check to without asking questions. But think about the mistakes you likely would have made and the time value of money. Even if you weren't making mistakes, you know, big mistakes on your own, you got to a point so much faster than you would have, on your own. It would have taken years to get to probably where you were in six months by going through this program and being plugged in. You know, I know you do coaching now, so it's something I would guess is kind of similar where, you know, I don't know what your your pricing looks like, but, man, if you don't have any kind of mentor or coach in your corner, you're really cutting your you're you're really shooting yourself in the foot. So you got plugged into the network, and then kind of quickly, what did it look like from your first rental property maybe up through today or maybe the high point of your real estate investing? 

 

Speaker 2

 

Yeah. So before I answer that, I just wanna to highlight what you just said. Right? The speed 

 

Speaker 0

 

Yeah. The speed. Yep. 

 

Speaker 2

 

You get to do this stuff 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

And the network that you built. And, you know, you probably heard your your net worth is your network. 

 

Speaker 0

 

Yes. 

 

Speaker 2

 

In in the this I went back to them, and it wasn't even paying a coach. It was, like, getting into a group. Mhmm. Okay. Getting, like Yeah. Yeah. You I could have gotten a coach, but it was, like, at that time, huge. Yeah. So, it was and here's another thing that I wanna mention. If you pay, but you do not put the time and effort 

 

Speaker 0

 

Yes. So true. 

 

Speaker 2

 

It's it's not gonna turn out good. 

 

Speaker 0

 

No. That's and you're absolutely right. I do mortgage note investing mentorship. We also recommend people join groups and things. But, yeah, it ultimately comes down to you. That's the I can't I can't do the work for you. As a mentor, I can't do the work for you, but but I wanna work with people who want to do the work and, that that's that's a critical piece. I mean, you can't be successful without that rolling up your sleeves and putting in the work yourself for sure. 

 

Speaker 2

 

Yeah. And taking risk. Even I I I go back and I tell them, you undercharged. At that time, you're still undercharging now. Because with all the properties that I've gotten, with all the money that I have made, that eight k, it's like Okay. It drops in the bucket. Nothing. It's Yeah. It's nothing. It really is nothing. 

 

Speaker 0

 

Isn't that crazy considering what what what you were living on? 

 

Speaker 2

 

And the scariness because I was, like, sitting there. I'm like, I have nothing. 

 

Speaker 0

 

Right. 

 

Speaker 2

 

And I'm getting in debt to get I'm not recommending like, it's it's totally about you and your risk appetite. 

 

Speaker 0

 

Right. For sure. 

 

Speaker 2

 

But for me is if I want it bad enough 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

I would make it work. 

 

Speaker 0

 

Well and I think coming from where you came from, you almost had nothing to lose. You know? Mhmm. It's, you've already been through quite a bit of adversity and poverty and an abusive household. And so, you know, you know, I was deployed to Iraq one time, you know, for a year, and and we were before we were deployed. You know, we'd get our wrist slapped for ordering. It was silly. We'd break silly rules that our own our own, leadership put on us, and we would say, what are what are the we're already headed to Iraq. What are they gonna do? Send us to Iraq? I mean Yeah. You know, we it's, you know, we're you've already been through pretty much the worst there is, so what do you have to lose? So I I would imagine your appetite for risk was a little bit higher than maybe someone who was born into wealth because they may be more afraid of losing it all. But, 

 

Speaker 2

 

No. That's that's so powerful, what you just said. And I wonder if every time we make a step, we truly ask ourselves, what do I have to lose? Like, really? 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

Sure. What is the worst thing? 

 

Speaker 0

 

Sure. 

 

Speaker 2

 

So if you lose your home. Alright? So what's the worst thing? You might get an apartment. You might get on someone's couch. 

 

Speaker 0

 

Right. Right? 

 

Speaker 2

 

Put yourself in. Okay. 

 

Speaker 0

 

No. No. 

 

Speaker 2

 

What do you have to lose? You might have kids. Again, you might end up in apartment or on someone's couch. They're alive. Right. They're frightened. Bounce back. 

 

Speaker 0

 

Yep. 

 

Speaker 2

 

What do you have to lose? Your friends are gonna say that you're a loser and that you didn't calculate what you did okay. It would say something anyway. 

 

Speaker 0

 

Yeah. And if you lose friends in that moment, maybe 

 

Speaker 2

 

shouldn't have them anyway. 

 

Speaker 0

 

Right. 

 

Speaker 2

 

If you lost friends in a position where you took a risk because you wanted to follow what is in your heart 

 

Speaker 0

 

Right. 

 

Speaker 2

 

Then those are not friends. 

 

Speaker 0

 

Right. But you There 

 

Speaker 2

 

were never were. 

 

Speaker 0

 

Yeah. But you're right. To spend some time really thinking about the the realistically, the worst case scenario, the realistic, worst case scenario and think through that a little bit and and how bad would it actually be most likely. Probably not that bad. Right? 

 

Speaker 2

 

And even, like, in the west, I used to be terrified bankruptcy. When I hear the word bankruptcy, oh my gosh. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

Then I started thinking. I'm like 

 

Speaker 0

 

It's not a bad option for for people, to be honest. 

 

Speaker 2

 

Clears up every I mean, like, I'm not saying y'all don't don't go and do. Right? But I I'm like, well, we have plenty of billionaires that went through bankruptcy. They're still okay. They went and build it bigger and better. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

As long as you do not lose who you are, you have gained a valuable life lesson. 

 

Speaker 0

 

So good. It's really good. Awesome. So, today, what does your what do things look like for you as far as your your your investing strategies or maybe your real estate portfolio? We'll talk in a little bit more about your coaching, but, from a personal investing and maybe personal financial situation, how does that compare today from where you came from? 

 

Speaker 2

 

Yeah. So since starting this whole journey, I've done anything from wholesaling to flipping to rentals, whatever you call. It's just a matter of looking at a property and from different angles and seeing what is the way to make it a deal. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

Not is this a rental deal? If it's not, I'm gonna pass. 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

It's what does it look like to make it a deal? What Well, 

 

Speaker 0

 

and I think it will apply. My own two cents on that is that, you know, you shouldn't necessarily start out that way just because you don't have the skill set, and maybe you're not plugged into a group like you were. But I think over time as you add more tools to your tool belt, that is such a comforting thing to know is, like, well, if this property that I thought was a fix and flip doesn't sell, I'll just turn it into a rental. Or, you know, I have one that I'm looking at making a long long term rental into a short term rental. I've never done short term rentals, but we're gonna try it and see how it goes. And, you know, on paper, it looks good, but if it doesn't really work, I just make it a long term rental again. You know, that's a minor example, but it it's it's and I you know, now being in the as a note investor and you have a lot more options. And so I love that approach for a more experienced investor like yourself where you see a deal. How does this deal look? What's the best, most profitable way to approach that versus I do single family residential rental properties, and that's it. So that makes a ton of sense. So 

 

Speaker 2

 

Yeah. And and, you know, with the you can go midterm rental. You can go Yeah. Like, there's so many ways to to slice a a real estate property. But, yeah, from there, I started doing, like I said, all of these types looking at the deals. And then in twenty twenty one, I, sold most of what I had in the single family space and went into an apartment complex. 

 

Speaker 0

 

Okay. Got it. 

 

Speaker 2

 

And, that has been great 

 

Speaker 0

 

Okay. 

 

Speaker 2

 

And is going very well. And now I'm continue actually, continuing investing in single family home because, for me, that's the when you go into an apartment complex, the timeline is way longer 

 

Speaker 0

 

For sure. 

 

Speaker 2

 

Than it is for a single family. 

 

Speaker 0

 

Especially with, COVID and all that. Yeah. A lot of these syndication, you know, projects have been extended a little bit beyond the typical five to seven years. 

 

Speaker 2

 

And it's also because you have, like, the you have to remodel the units, and the property is occupied. So you have to wait until each tenant moves and when it moves. And then there so and then there is the outside. And so there is a lot of 

 

Speaker 0

 

It's heavy lifts. 

 

Speaker 2

 

Yeah. And then when you project for the apartment complex, if you project it for a longer time frame and the fact that interest rates have kinda, you know, been Yeah. Not like we love them to be Not 

 

Speaker 0

 

investor friendly rates. That's for sure. 

 

Speaker 2

 

Then that kinda puts the timeline stretches the timeline because For sure. Like, we plan to refinance. We're planning to do x y z, but now because of interest rates, now this whole thing is a bit longer. 

 

Speaker 0

 

Yeah. The value of the property is less than it was projected to be. Yeah. In many cases, I don't know. 

 

Speaker 2

 

We're we're, like, right now, we're locked in for a very good interest rate. 

 

Speaker 0

 

So there's 

 

Speaker 2

 

no point for us to refinance at, like, seven percent or seven percent. So it's, like, different things. So, basically, it's liquidity tie not liquidity, but a lot of liquid cash tied into a longer period, for for this type of asset. So Mhmm. I'm back into investing in single family because 

 

Speaker 0

 

Got it. 

 

Speaker 2

 

It's quick. Like and and right now for me, I here's the thing. I'm the type of person which is a controversial topic is really care as even for for apartments. I don't really care as much as what the interest rate is. 

 

Speaker 0

 

Mhmm. Okay. 

 

Speaker 2

 

And I say that because, like we said, slices and dice, how can you make this a deal? So when the interest rates are high, what is happening? A lot of people pull back. When a lot of people pull back, that means the prices go down, and that means there's more negotiation power for the seller, to work with the seller. 

 

Speaker 0

 

Right. To work with the seller. 

 

Speaker 2

 

So so now it's like equity capturing time. And we know that naturally, it's a cycle. You go back and look at the cycles of real estate. It's gonna the interest rate is gonna go down at some point. So I'm gonna go back and refinance. And now not only I have the equity, now I'm gonna get even more cash flow if I decide to rental. And, again, I can do short term rental. I can do midterm rental. 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

I can do rental by rooms. Like, there's a whole 

 

Speaker 0

 

lot of stuff. And, yeah, I have we had a I had a guest on long a while back, Dave Van Horn. He's done really well in mortgage notes and real estate and similar approach where he just said, tell me what the rules are, and I'll find out find a way to win. Like, you know, it and when I say the rules, that means also market conditions, like, you know, interest rates and things. But there's always an opportunity regardless of what the conditions are. You just have to be flexible and and figure that that out. You always have an advantage in your position if you're willing to go that, you know, use it and see it first. But, so and I imagine with the multifamily, you're a limited partner. Is that right? 

 

Speaker 2

 

Yes. 

 

Speaker 0

 

Gotcha. 

 

Speaker 2

 

Yes. Limited partner. I wanna mention something that I said about the four zero one k. I don't know if you want me to mention that or or you want questions for me specifically on what we're talking. 

 

Speaker 0

 

Yeah. Sure. 

 

Speaker 2

 

So when I left the corporate world, I decided to, like, take a leap of faith and go into entrepreneurship and rely on my portfolio, in terms of cash flow and stuff 

 

Speaker 0

 

like that. Income. Right. 

 

Speaker 2

 

Mhmm. And I had the four zero one k. Right? I mentioned I started it away. Yeah. And I'm like, okay. So what can I do with this four zero one k? I can leave it with them. I can move it into an IRA. 

 

Speaker 0

 

Right. 

 

Speaker 2

 

You can roll it into 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

A mega backdoor four zero one k. 

 

Speaker 0

 

Like a Roth four zero one k? 

 

Speaker 2

 

And it's actually the mega backdoor. It's comprised of three things. 

 

Speaker 0

 

Okay. 

 

Speaker 2

 

The before tax, after tax, and then what? 

 

Speaker 0

 

Okay. 

 

Speaker 2

 

So it's, like, one three in one. 

 

Speaker 0

 

Gotcha. 

 

Speaker 2

 

And it's a self directed 

 

Speaker 0

 

Mhmm. Yeah. 

 

Speaker 2

 

Type of account to where you get a checkbook. Right? 

 

Speaker 0

 

Checkbook IRA. 

 

Speaker 2

 

Yes. Mhmm. And and in this case, it's a four zero one k. 

 

Speaker 0

 

Okay. Got it. 

 

Speaker 2

 

Yeah. Because I was looking. I'm like, okay. If I do a self directed, I could do it in an IRA. But no. No. No. Hang on a second. The IRA only lets me contribute about seventy five hundred dollars a year. The four zero one k lets me contribute over sixty thousand as a business owner a year. 

 

Speaker 0

 

Yeah. Sure. Yeah. 

 

Speaker 2

 

That's So I'm like, is there this is, like, amazing. 

 

Speaker 0

 

Yeah. So 

 

Speaker 2

 

if I could yeah. Go ahead. No. So if I contribute so first, I roll over what I had. And then if I contribute to the Roth four zero one k, over sixty k a year, and now I'm writing checks and buying these properties 

 

Speaker 0

 

Mhmm. It's incredible. So powerful. 

 

Speaker 2

 

It's, like, tax free 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

Hold away. 

 

Speaker 0

 

Yeah. It is amazing. And we when the mortgage note space, we deal with a lot of IRA we we usually just call them IRA custodians because that's the most common vehicle that people use with these custodians, but there are other alternatives like the EQRP and other, whatever you know, structures, I guess. But, ultimately, they're they're, self directed like you said. And, you know, some of these bigger, I think even Vanguard will say, oh, yeah. It's a self directed account. No. It's not the same thing. We're talking about where you can invest in real estate mortgage notes. There are only a few items you're not allowed to invest in for the IRS. 

 

Speaker 2

 

Collectibles art or something. 

 

Speaker 0

 

Collectibles. Right. Exactly. Art. Like, one other thing, I think. But, the people a lot of people don't even know this exists. And it works really well with mortgage notes, by the way, because mortgage notes do not have any inherent tax benefits, you know, that real estate does. And so when you're using a self an account like that, a tax advantaged account, you can kinda solve that tax problem and pair it with mortgage notes. But, that's pretty, that's pretty advanced, and and I definitely, it sounds like you know what you're talking about with that stuff. So 

 

Speaker 2

 

Yeah. And I just wanted to, for those that are kinda like because at first, my brain has a short had a short circuit. I'm like, woah. Woah. Woah. Woah. What do you mean sixty something? Like, the limit is twenty three k or so. Well, if you're a business owner 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

Your limit is different for a four zero one k than it is for a normal nine to five. So when we talk about, like yeah. Go ahead. 

 

Speaker 0

 

Under you have to be an s corp. Do you know? I I don't know. 

 

Speaker 2

 

No. No? Okay. It's still a regular LLC. 

 

Speaker 0

 

That's great. 

 

Speaker 2

 

And and it's funny because a lot like, that's what you mentioned, and it's totally true. For for most of the people, the four zero one k is kinda, like, tied to the job. Oh, hey. I got three percent match. 

 

Speaker 0

 

Right. 

 

Speaker 2

 

I only have a four zero one k through the job. I can't, like you know, I can have an IRA without the job, but four zero one k and, no, you don't. You can't have Yeah. And you're able to contribute three times as much Yeah. If you were not. 

 

Speaker 0

 

No. I love it. Yeah. And it it's you know, I I would generally recommend people take the match if you do have a job like that, and, you know, it's quote, unquote free money. But 

 

Speaker 2

 

That's how I started. So absolutely. 

 

Speaker 0

 

But they could also just pay you more and not not do the four zero one k. But, it is kind of a way to keep you there as well, which I don't blame blame them for. But, so we're running out of time. So, it's just amazing where you've come from and and where you are now. I mean, it's just financially, and I know it's it's beyond finances. We've talked a lot about the human side of things as well. It's just a phenomenal I mean, kudos to you for for not giving up and and for being intentional and being creative, and you know, being empathetic and a problem solver. It's just really very impressive, your story. So but I've got some rapid fire questions for you. Are you ready? 

 

Speaker 2

 

Thank you. Yeah. Absolutely. 

 

Speaker 0

 

In what ways has your approach to real estate investing changed as you've developed mental resilience? I think you've kinda already talked about it, but how has your approach to real estate investing changed over the years? 

 

Speaker 2

 

As I got more knowledgeable, I started looking from different angles instead of having one option and one option only. Like we said, hey. This is a rent to rent to own. No. There's gonna be different ways that I can look at to actually make it a deal. Deals are found. Deals are made. 

 

Speaker 0

 

Love it. What do you think that is the biggest psychological barrier that real estate entrepreneurs face today? 

 

Speaker 2

 

The biggest psychological barrier that we face is just really getting over our mindset. Regardless if it's real estate or not in anything, our biggest roadblock, it's us. And as long as you focus on the awareness. Hey. Where I'm at? Why am I thinking this way? What can I do Mhmm? To make this a deal, to help somebody else make it a deal? By the way, that's another thing that a lot of people don't do enough. If you help somebody else 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

Either it comes back through that person or it comes back somewhere from somewhere else, but it will come back to you. 

 

Speaker 0

 

That's great. In your opinion, what is the role of luck versus skill in real estate, investing or entrepreneurship? 

 

Speaker 2

 

Man, I grew up all my life thinking that I'm a hard worker, and if I work hard enough, I will make it happen. Mhmm. So I don't per se think that luck, it's a big part. I would say blessings are. Mhmm. God will open certain doors for you. Yeah. But but you have to be the one walking through it. 

 

Speaker 0

 

That's a fantastic answer. What about any controversy in real estate investing, that you've come across? Any controversial, you know, strategies or tactics that investor that you've seen along the way? 

 

Speaker 2

 

I think the biggest controversy right now in general is that people have there's many voices out there. There's Mhmm. So many voices. And one voice says, invest in single family only. Invest in commercial. Single family plan. No. Do, you know, the the house hacking or 

 

Speaker 0

 

Right. No. 

 

Speaker 2

 

No. No. No. No. You're gonna make a bunch of money doing Airbnbs. 

 

Speaker 0

 

Right. 

 

Speaker 2

 

That's the controversy of just pigeonholing yourself in one thing and kinda putting your blinders on. Like, the horse puts the blind and it's just, like, looking in one direction, one dimension. 

 

Speaker 0

 

Sure. 

 

Speaker 2

 

Think outside the box. Yeah. Look at something and ask yourself what are the different ways that you can make this benefit you and others around you. Now when you do a rental, you are providing a home for somebody else. Think of, hey. If it would be me, how would I wanna be treated? Right? 

 

Speaker 0

 

Mhmm. 

 

Speaker 2

 

So having this partial path, it's not as beneficial as looking at it holistically. Now what I do believe is that if you start, just start with one. Whatever you pick, just it's not so so much what you pick, but just start and stick with it. 

 

Speaker 0

 

Mhmm. Sure. Yep. Makes sense. What is a challenge that you are facing today in your own business, whether it's your coaching business or your real estate investing? 

 

Speaker 2

 

It's not it's not so much in the coaching business or real estate. It's more of that balance between being a present mom Yeah. And juggling my real estate, which I'm kinda like real estate addict. Right. Okay. Give me another deal. Give me another deal. I love it. I just love the game. And same thing with coaching. Like, the biggest reward and the biggest flex for me, it's not, oh, I have this big portfolio. Or, oh, you know, I've coached and blah blah blah. The biggest flex for me is when I change a person's life, and I'll give you an example. Had a, for example, Jimmy. Jimmy was in debt, brilliant guy, but stuck. Had some real estate kinda debt portfolio, and his wife could hardly see him. So with the coaching, we went in, and he went from it with matter of months, he went from, okay. I'm at this job. I'm stuck, and you can't even see his demeanor. He was really down to two months later, I'm quitting the job. To ten months later, running a multimillion dollar business. 

 

Speaker 0

 

Wow. 

 

Speaker 2

 

To, fifteen months later, building the biggest coffee, manufactured facility in US. 

 

Speaker 0

 

Really? Wow. So what And 

 

Speaker 2

 

that's like it's my biggest joy. 

 

Speaker 0

 

What was the secret, if you don't mind? What did you guys do? I mean Mindset. Mindset. 

 

Speaker 2

 

It all starts with mindset. 

 

Speaker 0

 

I imagine he had to let go of doing a lot of the get, you know, to get work work on his business more than in his business. But mindset He 

 

Speaker 2

 

went from nine to five. He went from a 

 

Speaker 0

 

nine to five. Right. Right. Taking that leap from his Yeah. Job. 

 

Speaker 2

 

Yeah. And then he, like, revived the whole real estate and did Yeah. All of that stuff. But, like, within when we started coaching and I'm not saying this because, hey. Like, come to me. I want to coach you. Yes. I I would love to coach you. But what I'm saying is that walking that path not alone can get you, like, we spoke before so much further. Right. We get in our heads. Yes. Absolutely. Someone else out there to get us out of our heads. Yeah. Then, like, imagine the lives that Jimmy is now impacting. 

 

Speaker 0

 

So true. That's really good. Almost out of time here. So if you could have coffee with any historical figure, whom would you choose? Lincoln. That's a good answer. If you were given ten million dollars tomorrow, no strings attached, what would you do with it? 

 

Speaker 2

 

More multifamily. 

 

Speaker 0

 

Nice. What is one book that you could recommend for our listener? 

 

Speaker 2

 

I would say that even though this book many of you have heard of I'll read it again and again and again, and it's how to win and influence people 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

By Del Del Carnegie, and I have it right here. And I'll also recommend my New York Times bestseller book There you 

 

Speaker 0

 

there you go. 

 

Speaker 2

 

Which is Destined for Wealth. 

 

Speaker 0

 

I love it. 

 

Speaker 2

 

And that has 

 

Speaker 0

 

I haven't read it, but I love that you brought it up. 

 

Speaker 2

 

That has a lot to do with if you want it, you can get it. And and that's what I wanna drive home today. Yeah. If someone like me who came from nothing, who had no connections, who messed up an order and was put to be a server, who had no English, didn't know anyone, and just stayed here in US and went through get paperwork. Like, didn't even have a citizenship. If someone like me can do this and nobody from nowhere, you can do it too. 

 

Speaker 0

 

That's hard to argue with. Not gonna lie. It's really good. Larissa, what is one question that you wish I'd asked that I have not asked? 

 

Speaker 2

 

That's a good question. 

 

Speaker 0

 

Anything you wanna cover before we, get out of here? 

 

Speaker 2

 

I would say I I I can't think of a question that you should ask. We had a great time. Mhmm. I I I hope you, the listeners, took a lot of value from this. But the message that I said just right now about go for it, do it, you can and you will, Whatever when you fall, learn. That's your win, and it's bigger. The learning, as much as it will hurt, as much as it would not be recognized in the moment, it's bigger than any ten million, a hundred million, whatever million that zero you add to it because that learning for you to take that learning and apply it to the next step will get you bigger and better results. And you might have a bigger and better learning. 

 

Speaker 0

 

Right. 

 

Speaker 2

 

Again, we'll set you up for the next. 

 

Speaker 0

 

Right. And like you've already said, the, impact on others too, you know, that that from that growth and learning that you experienced through your adversity, your adversity, my adversity, how we individually grow and learn from our adversity isn't only for us. It impacts many other people. Yeah. So 

 

Speaker 2

 

So I love that. Just remain human. Just be a human. Love people for who they are. I know it's hard. I know family dinners or lunches might be hard too. But Yes. I always think this way. God does not love me more than the person that I think I don't wanna like right 

 

Speaker 0

 

now. 

 

Speaker 2

 

In the eyes of God, we are loved the exact same way. So how can I love that person? Now that might not mean that I hang out with them every day 

 

Speaker 0

 

Yeah. 

 

Speaker 2

 

Or they're my immediate circle. Right. Because it's it's important to associate with people that want you to succeed, that help you succeed, and also, you are there to make them succeed and help them succeed. Yeah. It's not just about you. Just love people. 

 

Speaker 0

 

Love that. And we really haven't talked too much. Just very quickly tell us more about your coaching program. 

 

Speaker 2

 

Yeah. So my coaching program, I have the two different programs that I focus on. One is from those beginners that need to have the foundation in place to roll into the real estate. And for that, I have a special thing for you guys, which is a completely free course that touches on everything you need to have prepped and set up to launch yourself into real estate. Or if you don't wanna go into real estate, that's fine too. But it is real estate. I just love real estate. And that, you can find it at w w w dot unshakable wealth dot com forward slash forward slash jamie. Again, w w w unshakable wealth dot com forward slash jamie. Now for the ones that, hey. I'm kinda good. Like, I have some savings. My credit is okay. My, you know, like and my internal mental state is good. Mhmm. I have a group coaching as far as how to buy your first or next property and how to do it the right way so that you can see how it can benefit you, and you can 

 

Speaker 0

 

That's great. Just kind of like the group you got plugged into years ago, which really helped launch your own real estate career. So love that. And the website you mentioned, that's the best, way for our listeners to get in touch with you? 

 

Speaker 2

 

Yeah. That would be the best way to get. I have a newsletter too. So if you go to the website, it's fine. But I would highly, highly recommend you go through the it's free. The course is free. No strings attached. You go in. You take it. And then email me back and say, hey. I like it. Tell me what you don't like because I love the feedback. I'll improve it. That's what we continuously do. So on the unshakable, it's without the e after the k, if I didn't confuse. It's unshakable with k a. Unshakable welcome. Put it in 

 

Speaker 0

 

the show notes as well. So 

 

Speaker 2

 

forward slash Jamie. Facebook. Yep. I mean, that's the best way. You can also hit me up on Instagram and Facebook, and I'm on all the social medias too. But send me an email. I'll be happy to to answer and help whatever I can because one day I might need you. 

 

Speaker 0

 

Right. Well, Larissa, we went a little long today, but that's because it was so good. I mean, there were so much there were so many good nuggets and stories and, you know, micro stories within each story, and and you had several teasers along the way. I'm hoping we circle back to all of them. But, man, this has been this has been motivating as well as practical and informative. So, it's just, I can't say enough about how impressive your your story is and just I mean, the the mindset that you how you approach things in the human element that you keep front front and center, is just, it's refreshing. So thank you for spending your time with us today. 

 

Speaker 2

 

Thank you for having me. I really, really appreciate it, and y'all have a blessed blessed time in this life because it's one life that we have, and we might as well enjoy it. 

 

Speaker 0

 

I love that. Yes. Absolutely. And to the listener, thank you for spending your time and attention with us. We appreciate it. Take care, everyone. 

 

Speaker 1

 

Thank you for joining us on from adversity to abundance. We hope today's episode has equipped you with valuable insights and practical advice to elevate your real estate journey. For more inspiring stories and resources, visit us at w w w dot adversity to abundance dot com. If this episode has inspired you, please share it with a friend who could also benefit from our conversation. Together, let's turn adversity into abundance. Until next time, keep building your mental fitness and your real estate empire. 

 

Larisa Olteanu Profile Photo

Larisa Olteanu

Author (WSJ best selelr), CEO

I'm a seasoned financial strategist and entrepreneur dedicated to empowering individuals to achieve financial freedom. At the age of 21, I stayed in the USA with only $20, no English, no acquaintances. I slept on the bare floor covering myself with the one sheet that I brought with me. And, just four years later, I landed a dream job with a Fortune 500 & number one publicly traded company in the world.. With a strong background in wealth management and investment strategies, I now focus on the importance of financial literacy and sustainable wealth-building practices. I am passionate about helping clients develop personalized financial plans that align with their goals and values, fostering a mindset of abundance and resilience. Through my coaching and educational programs, I have inspired others to take control of their financial futures and create lasting wealth.