The Real Estate Espresso Podcast

We all face choices. The decision to accept a problem is made in an instant. It’s an instinctive reflexive reaction usually made on the basis of an emotional response rather than a rational response. If you’ve chosen to downplay the problem, then chances are you won’t deal with it until it mushrooms to the point where the problem is large enough you can no longer ignore it. Let's say you accept the problem exists and you undertake to fix it. But you're only fixing that single instance of the problem. In truth, creating a band-aid solution. But in truth there is a third type of solution that requires a different way of thinking. It requires systems thinking In systems thinking, you don’t solve a discrete problem. You create a solution that solves the immediate problem and prevents the problem from ever occurring again.

Kyle Wilson was the founder of Jim Rohn International and was Jim Rohn's business partner for 18 years. In this casual conversation, we're talking about the birth of an entire industry and some of the marketing fundamentals that today's technologies often short-circuit. Kyle is a kindred spirit and we share a lot of the same values. I think that becomes readily apparent in the conversation. Enjoy. Feel free to connect with Kyle at kylewilson.com

Dr. Bryant took a departure from dentistry after selling his multi-location practice and ventured into the world of real estate investing and wealth management. The High Speed Alliance is a group of Doctors and Dentists who come together several times a year in exotic locations to mastermind on investment. Listen to this great conversation on the beach on location in Sandestin Florida.

Generally speaking people are willing to be educated. They don’t want to be sold. They’re willing if its an area they’re interested in. If they’re not interested, it’s spam. In the movie star wars, Luke Skywalker is the hero of the story. But he needs a guide, in this case Yoda who will team him. Yoda isn’t the star of the movie. He’s in a supporting role. The problem arises when the ethics of the guide are compromised. They call it education, but they’re really training you to buy their stuff. It’s a version of bait and switch. In my mind there is a fundamental conflict of interest when you sell your product under the veil of education.

We are delighted to announce that Ravi Ghanta is the winner of the 100,000 download contest and has won an autographed copy of Robert Kiyosaki’s book “Second Chance”. On today’s episode we review Benjamin Hardy’s book “Willpower Doesn’t Work”. Benjamin Hardy is a PhD student in psychology at Clemson University. His groundbreaking book shows conclusively that everything you’ve tried and failed using willpower could never succeed. It’s not your fault.

Recent reports from numerous data sources are showing that homeowners in the US are living longer in the same place between moves. In fact, the average time in the same home has more than doubled in the last decade. In particular, the coastal areas have experienced the lowest inventories, the worst affordability and the lowest mobility.

John from Huntsville Alabama asks "I'm contemplating a large new multifamily development. What questions should I be asking the city to determine if my project is viable?"

I’ve been talking to a number of investors who are interested in getting into development. Today’s episode is an advisory talk on what you may want to consider before jumping into the world of development. The first thing is that you should avoid development if at all possible. If you can get the equivalent product in the market by buying and repositioning an existing asset, then that’s what you should do. An existing asset is the fast and lowest risk path. In many cases, you can buy an existing asset below replacement cost. My recommendation is a 3 step process to evolve from your first simple development project to full green-field development where you have to build everything from raw land including the infrastructure.

This week I spoke with George on a wide range of topics, starting with the stock market volatility. George was Executive Vice President in the Trump organization for over 30 years and he brings a unique perspective. He's been in business for over 60 years, taught negotiation at the law school at NYU for over 20 years, and is the author of two best selling books on real estate and negotiation.

Two weeks ago hurricane Michael tore a swath of destruction through this coastal community. We toured the area and spoke first hand with local residents.