I Was Homeless… Now I Make $5M/Year

Noah Kagan
30 Sept 202357:14

Summary

TLDRMark Jenny, founder of RVshare, which sold for over $100 million, shares his rags-to-riches story, from growing up homeless to building an Airbnb business earning $12 million annually with minimal work. Despite early struggles and multiple business ventures, including some he's not proud of, Mark emphasizes the importance of persistence, learning, and finding fulfillment in business. His journey illustrates the value of owning one's time, the power of building unique experiences, and the pursuit of happiness beyond financial success.

Takeaways

  • 🌟 Mark Jenny is known for founding RVshare, which sold for over $100 million, and for having a successful Airbnb business making $12 million annually while working only 30 minutes a week.
  • 🏠 Mark grew up homeless and faced significant hardships, such as living behind a tire shop with minimal amenities.
  • 💡 Despite these challenges, he started over 30 businesses, quickly growing one to over a million dollars in monthly revenue.
  • 💸 Mark has sold a billion dollars' worth of products online but found many of his early ventures unfulfilling, likening himself to a snake oil salesman.
  • 📈 A pivotal moment in his life was a visit to wealthy relatives in New York City, which opened his eyes to a new lifestyle and motivated him to pursue success.
  • 👨‍💼 Mark learned about business and finance from books and early experiences, including an eye-opening internship at Merrill Lynch.
  • 🚀 His first major success was creating a website builder that earned him over a million dollars a month, despite starting with no coding knowledge.
  • 💼 Over his career, Mark has launched various businesses, including digital publishing, health supplements, and web hosting.
  • 🏅 One of his most significant decisions was stepping away from an unfulfilling but lucrative supplement business to start RVshare, which aligned more with his values.
  • 💰 Mark emphasizes the importance of owning one's time and finding passive income streams to achieve true financial freedom.

Q & A

  • What is Mark Jenny known for primarily?

    -Mark Jenny is primarily known for starting the company RVshare, which was sold for over $100 million, and for having an Airbnb business that generates $12 million with only 30 minutes to an hour of work per week.

  • How did Mark's upbringing influence his early life and business endeavors?

    -Mark grew up homeless in an area with many drug problems, which made him desperate to change his situation. This background influenced his early life and business endeavors by making him persistent and driven to succeed, starting over 30 businesses within a short period.

  • What pivotal moment in Mark's life led him to believe that money could bring happiness?

    -The pivotal moment was when Mark visited his wealthy relatives in New York City at the age of 13. Experiencing their lifestyle and seeing their happiness, he initially believed that money was the key to happiness.

  • How did Mark's first million-dollar business idea come about?

    -Mark's first million-dollar business idea came about when he built a free website builder that required users to sign up for web hosting through his affiliate link. This business took off quickly and started generating over a million dollars a month.

  • What was the turning point for Mark in realizing that money does not equate to happiness?

    -The turning point for Mark was later in life when he realized that money doesn't make one happier or less happy; it just allows one to become more of who they are and do more of what they want to do.

  • How did Mark's early businesses, which were not fulfilling, affect his approach to business?

    -Mark felt unfulfilled selling health supplements that he did not believe in, which led him to close down businesses that he did not see himself doing forever, even if they were profitable.

  • What business did Mark start after realizing that he needed to find a business he could be proud of and could do forever?

    -After realizing the need for a fulfilling business, Mark started RVshare, which eventually became a successful venture that he could be proud of.

  • How did Mark's approach to business change after selling RVshare?

    -After selling RVshare, Mark became more focused on building unique experiences with his Airbnb business, investing in properties that offered something different and could stand the test of time.

  • What advice does Mark give to people who are just starting out and want to make their first million?

    -Mark advises people to seek out successful individuals in their desired field, offer to work with them for free to learn from them, and to be persistent in gaining valuable experience and knowledge.

  • What does Mark consider the most important aspect of life?

    -Mark considers family and friends to be the most important aspects of life, emphasizing the importance of building and sharing experiences with loved ones.

  • What is Mark's investment thesis for his Airbnb business?

    -Mark's investment thesis for his Airbnb business is to create unique and memorable experiences by building or buying properties that offer something different and special, aiming for a 10% return on investment.

Outlines

00:00

💼 From Homelessness to Entrepreneurial Success

Mark Jenny shares his rags-to-riches story, detailing his journey from growing up homeless to selling his company RVshare for over $100 million. Despite his immense success, including an Airbnb business generating $12 million annually with minimal work, Mark candidly discusses his early life of poverty, the desperation of his family's financial struggles, and the pivotal moment that led him to start over 30 businesses. His first business venture turned profitable within two months, but he eventually found the businesses unfulfilling, leading him to seek more meaningful endeavors.

05:01

🚀 Early Exposure to Wealth and the Pursuit of Happiness

At 13, Mark experienced wealth and happiness for the first time during a visit to his wealthy relatives in New York City. This exposure to a luxurious lifestyle and the apparent happiness of his relatives led him to initially equate money with happiness. Upon returning home, Mark was inspired to learn about finance and the stock market, which eventually led to his first business on eBay. However, an internship at Merrill Lynch disenchanted him with the idea of becoming a stockbroker, setting him on a path of entrepreneurship and business creation.

10:03

🛠 Building a Business Empire from Scratch

Mark recounts his early business endeavors, starting with a rudimentary website builder that he developed without any coding experience. His first version involved manually editing HTML for each client, which was time-consuming but lucrative. Despite his success, Mark was unsatisfied with the lack of fulfillment from his businesses, leading him to shut down profitable ventures in pursuit of more meaningful work. His journey includes various digital publishing companies, an AI chatbot in the early 2000s, and multiple web hosting brands, reflecting his diverse and innovative approach to business.

15:05

🏆 The Philosophy of Business and Life After Success

Mark discusses his philosophy on business and life after achieving success. He emphasizes the importance of persistence, learning through action, and the realization that intelligence alone is not the key to success. Mark also shares his belief in the importance of choosing the right business venture, one that aligns with long-term goals and has the potential for significant impact. His reflections include the understanding that success in any field requires a similar level of effort and that the choice of venture can lead to vastly different outcomes.

20:06

💡 Identifying Opportunities and the Dollar Bill Business

Mark shares his approach to identifying business opportunities, using the example of his dollar bill business. He discovered a niche market on eBay selling dollar bills with celebrity images and decided to replicate the idea, scaling it into a six-figure business. This story illustrates his knack for spotting potential business ideas and his willingness to experiment and innovate, even in areas where he lacks expertise.

25:08

📉 Overcoming Setbacks and Learning from Failures

Despite his many business ventures, Mark has faced setbacks and failures, including being swindled by a close friend and business partner who disappeared with their shared funds. This experience was particularly painful due to the loss of a valued friendship. However, Mark views these challenges as learning opportunities rather than failures, emphasizing the importance of resilience and the ability to adapt and move forward.

30:09

💰 The Reality of Wealth and the Transition to Meaningful Business

Mark reflects on his experience with wealth, from the material excesses of his early success to the realization that money alone does not guarantee happiness. He discusses the turning point when he decided to walk away from a lucrative but unfulfilling health supplement business, prioritizing his integrity and desire for a meaningful business over short-term profits. This decision marked a significant shift in his approach to entrepreneurship, leading him to found RVshare.

35:09

🔄 The Pivotal Move to RVshare and the Importance of Timing

Mark's transition to RVshare came after a period of self-reflection and advice from a friend, Perry Belcher, who urged him to consider the long-term happiness and fulfillment of his work. This led Mark to commit fully to RVshare, a business that aligned with his values and provided a sense of purpose. He shares the importance of timing and recognizing when to pivot in business, as well as the satisfaction of building a successful company that created jobs and positively impacted the lives of others.

40:11

🤔 Navigating Business Decisions and the Path to Time Freedom

Mark discusses the decision-making process in business, emphasizing the importance of delayed gratification and the ability to recognize when to persevere or move on to new opportunities. He shares his personal journey to time freedom, which came not from a specific dollar amount but from the ability to generate passive income through smart investments. This allowed him to own his time and live life on his own terms, highlighting the value of financial independence.

45:13

🌟 The Airbnb Business and Creating Unique Experiences

Mark's venture into the Airbnb business was driven by a desire to create unique and memorable experiences for guests. He shares his strategy of purchasing properties outside of town at a lower cost and adding special amenities to attract guests seeking a distinct vacation experience. His approach focuses on building cool experiences rather than strictly adhering to traditional real estate investment metrics, leading to a portfolio of successful, distinctive properties.

50:16

💫 Life's Cheat Code: Building with Family and Friends in Mind

Mark reveals that the ultimate 'cheat code' of life is building something you love and sharing it with family and friends. His Airbnb properties are designed with family-oriented experiences in mind, creating a win-win situation for both himself and his guests. He encourages others to find their passion and build a business around it, emphasizing the importance of enjoying the process and the fulfillment that comes from creating something meaningful.

Mindmap

Keywords

💡RVshare

RVshare is a company that was founded by Mark Jenny, which allows people to rent out their recreational vehicles. It is a key part of Mark's entrepreneurial journey, as it was sold for over $100 million. The company represents the culmination of Mark's efforts to build a successful business that he could be proud of, contrasting with his earlier ventures in internet marketing and health supplements that he did not find fulfilling.

💡Airbnb business

The term 'Airbnb business' refers to Mark's current venture, where he owns and operates a portfolio of resort-style vacation homes listed on Airbnb. This business is significant as it generates $12 million in revenue while only requiring around 30 minutes to an hour of Mark's time per week, illustrating the concept of passive income and successful business automation.

💡Homeless

Mark Jenny's upbringing was marked by periods of homelessness, which is a state of not having a home or permanent residence. This background is a central theme in the video, as it provides context for his drive to succeed and his ability to empathize with those who face adversity. The script mentions his family living in a room behind a tire shop, highlighting the humble beginnings from which he started his journey.

💡Entrepreneur

An entrepreneur is an individual who creates a new business, bearing the risks and benefits of the venture. Mark Jenny is a quintessential entrepreneur, having started over 30 businesses, including the successful RVshare and his Airbnb business. His story exemplifies the perseverance, innovation, and risk-taking often associated with entrepreneurship.

💡Passive income

Passive income refers to earnings derived from a rental property, investments, or businesses where the individual does not have to be actively involved in operations to generate income. Mark's Airbnb business is an example of generating passive income, as it requires minimal time commitment from him while still producing significant revenue.

💡Investment

In the context of the video, investment refers to the allocation of funds into assets or ventures with the expectation of generating income or profit. Mark's approach to investing the proceeds from the sale of RVshare into passive investments allowed him to achieve financial freedom and time independence, as it provided a steady stream of income without the need for active work.

💡Business exit

A business exit is the strategy by which a business owner leaves or sells their business. Mark's exit from RVshare, where he sold the company for over $100 million, is a significant event in his career. It represents the successful culmination of his efforts in building a business and the transition to a new phase of his life and business ventures.

💡Opportunity

Opportunity, in the video, refers to potential areas for business or investment that can yield profit or success. Mark identifies opportunities in various sectors, such as digital publishing, health supplements, and AI chatbots. His ability to recognize and capitalize on opportunities has been a key factor in his entrepreneurial success.

💡Dollar bill business

The 'dollar bill business' is a specific example from Mark's past where he sold dollar bills with pictures of celebrities printed on them. This venture turned into a six-figure business for Mark and illustrates his knack for identifying unique business opportunities, even in unlikely places, and his willingness to experiment with different ideas.

💡Mentorship

Mentorship involves guidance and support from a more experienced or knowledgeable person. In the video, Mark emphasizes the importance of learning from successful individuals in one's field of interest. He suggests working closely with mentors to gain practical knowledge and insights, which can be invaluable in building one's own successful career or business.

💡Regret

Regret, in the context of the video, is a feeling of sadness or disappointment over something that one wished had done or happened differently. Mark expresses his regret over not spending more time with his mother towards the end of her life. This personal aspect of his story highlights the importance of cherishing time with loved ones, alongside professional success.

💡Time freedom

Time freedom refers to having control over one's own schedule and not being obligated to work a set number of hours due to financial stability. Mark describes achieving time freedom as a significant milestone, which he values more than the monetary wealth he has accumulated. It represents the ability to enjoy life on one's own terms, without the constraints of a traditional job.

Highlights

Mark Jenny started RVshare, which sold for over $100 million.

He has an Airbnb business generating $12 million annually with minimal weekly work.

Mark grew up homeless, with his family facing severe financial struggles.

He started over 30 businesses within 2 months, scaling one to over a million dollars a month in revenue.

Despite success, Mark felt unfulfilled, comparing himself to a 'snake oil salesman' due to selling health supplements he didn't believe in.

Mark's pivotal life moment was visiting wealthy relatives in New York City at 13, which sparked his ambition for wealth and happiness.

His first business was an eBay venture inspired by the dollar bill business he observed.

Mark built a website builder that quickly scaled to a million dollars a month in revenue.

He emphasizes the importance of building something you're passionate about, rather than just making money.

Mark regrets not investing his early earnings and not having proper guidance or mentorship.

He shut down multiple profitable businesses because they didn't align with his long-term vision.

Mark's Airbnb business focuses on creating unique, resort-style vacation homes.

He believes in the long-term potential of the Airbnb market and the importance of standing out.

Mark's investment thesis for his Airbnb properties is based on creating unique experiences rather than strict financial metrics.

He has transitioned to focusing on unique assets that are hard to duplicate, ensuring long-term performance.

Mark advises aspiring entrepreneurs to seek mentorship and learn from successful individuals in their desired field.

His main life regret is not spending more time with his mother, highlighting the importance of family.

Mark's ultimate life hack is enjoying the process of building and sharing experiences with loved ones.

Transcripts

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this is Mark Jenny he is most known for

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starting the company rvshare which sold

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for over $100 million and has an Airbnb

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business that makes $12 million while

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only working 30 minutes a week you have

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a 20 portfolio property worth 8 figure

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plus and you said you spend 30 minutes a

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week 30 minutes to an hour a week

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usually but before the money started

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pouring in Mark grew up homeless the

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town I grew up in a lot of drug problems

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not necessarily the best area we'd go to

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McDonald's and my dad would buy one

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hamburger cut in half and hamburgers

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were like 59 cents at the time or

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something like that he didn't even have

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enough money to buy both of us a

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hamburger desperate to change a

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situation March started over 30

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businesses within 2 months I went from

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an idea to a business that was making

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over a million dollars a month I've sold

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a billion dollars worth of stuff online

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however he found that the businesses he

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created were extremely unfulfilling

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basically I felt like a snake oil

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salesman I was selling Health

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supplements that I did not believe in I

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didn't want to do anymore so how did

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Mark go from homeless to starting

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several successful businesses closing

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them down and then creating the business

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of his dreams let's dive deeper into

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Mark's story so first off Mark Jenny I

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got to share I've used rvshare.com

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you're the founder I love it we've come

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a long way from there so let's go back

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to the beginning of your origin story

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yeah um you grew up homeless I did can

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you tell us a little bit more about that

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and how did your family even end up in

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that situation yeah yeah I mean my dad

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just was not good at managing money um

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he was not good at managing money then

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he's not good at managing money now it's

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just not been a strong suit of his and

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um

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so we lived in the back I have a picture

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of it I Pro I can show show it to we put

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it up on screen we put it up on screen

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um but I'll uh I'll show you so here

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that's actually where I lived it was in

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it was behind a tire shop um so we

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weren't out luckily we were not out on

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the streets but but we lived behind this

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tire shop um in this little room for

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about 2 years and um there was no there

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was a bathroom but with a sink uh there

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was no shower um so like we'd get a

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washcloth and you know throw some soap

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on it and kind of wash up that was that

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was how we bathed um but it was I mean I

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would say I it was humbling but you know

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I didn't really know much better cuz I

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really didn't grow up in the best part

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of town and so it was like I was going

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from like the bottom to like the bottom

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bottom um and so it wasn't there wasn't

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like a massive leap in lifestyle for me

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where I was like you know Liv in large

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and all of a sudden I was like you know

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Liv in the back of a tire shop in a you

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know little storage room um so you know

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the town I grew up in a lot of drug

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problems you know not not necessarily

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the best area my whole upbringing was

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really kind of coming from nothing um

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you know and being homeless was was part

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part of that part of that Journey but I

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think that what that has done for me

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today is it's probably you know it's

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kept me more grounded um and it's really

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made me appreciate you know all the

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blessings that we have today what were

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some of the moments you noticed between

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your parents and what was it like with

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the family uh when it was these these

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tough times yeah I mean my parents

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always fought about money all the time

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like that's you know they they got

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divorced when I was younger and but I

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that's really all I remember them you

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know the interactions with them is just

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like fighting about money all the time

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um I mean you know things were lean and

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like we'd go to McDonald's and you know

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my dad would buy one hamburger and cut

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it in half and give my brother half of

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it and me half of it and hamburgers were

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like 59 cents at the time or something

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like that you know and he didn't even

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have enough money to buy both of us a

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hamburger um but I I you know I got

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super super lucky very early on um when

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I was 13 years

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old I had some cousins who were

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relatives of my dad uh they were like my

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second or third cousins and they lived

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in Manhattan they lived in New York City

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and they had a a compound in the

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Hamptons and they were money managers

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and they were very very wealthy

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extremely extremely well off and I

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always thought money is happiness

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because of this experience that I had

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with him which I'll tell you about but

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later on in life I really realize money

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is not happiness you know you can be

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happy money doesn't make you either H

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more happy or less happy it just kind of

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allows you to become more of who you are

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and do more of the things you want to do

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um makes life easier but circling back

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to um you know when I was 13 this was

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the most pivotable moment of my life of

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anything as far as like coming from

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nothing to actually making something in

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of of you know my life is when I was 13

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years old I went to New York City my

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cousins they paid for airline ticket to

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fly me out to New York for a week I

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stayed with them at their Penthouse

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apartment on Park Avenue for the week

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and then on the weekend we went out to

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their compound in the Hamptons and I it

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was the first time I ever experienced or

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saw like wealth and to be honest with

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you it was really one of the first times

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I ever saw people who were happy cuz

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there was just not a lot of Happiness

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between my parents and our household

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when I was growing up and so I went and

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they were super super happy

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and for me for many years I thought that

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you know happiness is money because they

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have money so that's how you get

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happiness and that's really kind of what

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really got me started it was I wasn't

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seeking um material things I was seeking

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like a happy household and the household

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like you know that I grew up in just

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didn't have a whole lot of love and

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happiness between my parents and so but

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um what happened was when I came back

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from that trip in New York um my eyes

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were open to a totally new lifestyle you

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know I was at that time we were not

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homeless but I was in you know an 8 800

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squ ft house and on the wrong side of

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the tracks and you know I just went for

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a week and experienced basically

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essentially living like a Billionaire's

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life and like saw how they lived and it

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was totally foreign I'm like I want that

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whatever that is I want that what I have

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here at home I don't want this I want

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that cuz I saw happiness they just

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seemed you know it was like yes they

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bigger houses and nicer cars and all

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that stuff but the the the happiness

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that they had was just like I was so

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drawn to that so how did this shape your

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mentality how did that um you know they

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were in finance and so that's what I

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that's what I thought I was going to

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make my Millions I always thought I was

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going to go into the stock stock market

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I'm going to become wealthy like them

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you know in finance I went I went back

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home from that trip I went to Barnes &

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Noble whatever little money I had saved

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up at the time I bought books on you

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know trading stocks for dummies stock

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markets for dummies etc etc etc um I

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read up on uh you know on the stock

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market I as a 13-year-old you know read

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as much as I could um that ended up

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prompting me to uh start my first

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business and I ended up starting my

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first business on eBay at the time uh

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not too long after like the next summer

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I ended up going to Merl Lynch and I

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just walked into our local meril Lynch

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branch and showed up and I'm like I'd

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like a summer in internship I'll work

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for free I'll do whatever you want I

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want to learn the business um and I'll

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I'll do I'll do whatever it takes and

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little did I find that that actually

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that experience turned me off of Finance

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because I always thought I wanted to be

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a stock broker and there's a big

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difference between being a stock broker

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and actually being a money manager and I

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realized that stock brokers were

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essentially you know used car salesmen

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and they weren't doing anything other

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than like what they were told from you

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know up above of here's what we're

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selling and so you go into the local Mir

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Lynch office and you know everyone's

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just pedaling the same products they're

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not actually managing money and like you

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know figuring out where we're going to

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invest our client's money yes and no to

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some extent but really not what I was

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looking for like the experience I had

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was like you know I went to my uh

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cousin's Wall Street trading firm and

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they had you know multiple floors and a

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and a highrise and all these you know

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charts and and on the wall and tickers

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and everyone's like you know like a real

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trading desk and that's what I I thought

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local Meo Lynch was going to be like and

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I realized like no that's not this at

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all like they're making you know these

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guys are making you know $100,000 a year

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$200,000 year at the time but they they

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weren't doing what I wanted to do and

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they didn't have that you know that was

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not where I was going so I learned

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pretty quickly that like you know

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becoming a stock broker was not

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necessarily my thing after an internship

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at maril Lynch uh for the summer and

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then you know really that was you know

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from there on I business after business

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have had 30 different plus businesses

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over the years how did you make your

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first million this is before Wix before

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Squarespace this was like basically like

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almost like geoc City days this was like

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way way way back in the day um so I

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built a website builder that allowed

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people to build out sites and promote

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other people's products or Services you

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know as an affiliate and generate

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commissions and and the model was um

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different so I didn't charge for it it

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was completely free but in order to get

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access and use my website builder you

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had to sign up for web hosting through

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my affiliate link and that took off and

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that basically I you know I I went from

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an idea to a business that was you know

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making over a million dollars a month in

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a very short duration of time and that

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totally totally changed my life you know

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um so that was that was really the first

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big success was that and I knew nothing

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about coding

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programming I um the first version of of

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this website builder was me going and

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buying HTML for dummies I was using

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Dream Weaver and I was like a hack a

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hack HTML programmer at at best I mean

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like really really bad I couldn't write

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you know scripts or anything to automate

play10:26

anything and at one point in time I was

play10:28

either building or editing hundreds of

play10:30

websites a day by hand and I was making

play10:34

like a lot of money but I was literally

play10:36

in front of a computer for like 14 or 15

play10:39

hours a day copy paste copy paste copy

play10:42

paste because my website builder my V1

play10:44

of this website builder was not

play10:45

automated it was essentially a like a

play10:48

modern-day Google form where I had a

play10:50

form and somebody would go and fill out

play10:52

their form and I'd say what is your

play10:54

affiliate link what color do you want

play10:56

your website what do you want your

play10:57

website to be about blah blah blah blah

play10:59

BL blah and I would literally then take

play11:01

that info I mean this was this was back

play11:04

I had people giving me their web hosting

play11:06

um logins and their password and their

play11:09

email passwords and it was very like old

play11:12

school it was like stuff that like there

play11:13

was no SSL at the time there was no any

play11:16

of this stuff at all um and so the first

play11:19

version for quite some time is was

play11:21

literally like a form that I had online

play11:23

which was a website builder but I was

play11:25

the website builder I was the one

play11:27

literally taking the information off the

play11:29

form that was then getting sent to me

play11:32

and then I was going in and changing the

play11:34

HTML so it wasn't like if you went in

play11:37

and updated your form you had to wait

play11:38

for me to go in and get the information

play11:41

and go manually update your website for

play11:43

you that was my V1 of a website builder

play11:46

I've been working hard on my upcoming

play11:48

book million dooll weekend which is

play11:49

coming out early 2024 stay tuned looking

play11:52

through my notes I found a lost chapter

play11:54

that is not in the final book very

play11:57

mysterious it reveals things like like

play11:59

how to double your income without any

play12:01

new customer how to create complimentary

play12:04

products to generate more income one

play12:05

solar preneur did this and made an extra

play12:08

$340,000 how to optimize pricing

play12:10

strategy and maximize profits and more

play12:13

the Lost chapter is not online or Amazon

play12:16

or anywhere else it is only for people

play12:18

on my list like you you can download it

play12:20

for free at noah.com

play12:23

slost that's noah.com lost it's also

play12:27

Below in the description all right back

play12:29

to the video all of a sudden you're

play12:31

making all that money what did you spend

play12:32

it on what did you buy well when I was

play12:35

young I mean when I was young I just

play12:38

blew it all I mean I you know I was

play12:42

living the life of somebody who came

play12:44

from nothing and didn't have good

play12:45

guidance and had no mentors to like try

play12:49

to you know guide you of like hey hey

play12:52

you know you're doing well this is an

play12:54

opportunity you know these don't come by

play12:56

every day you're and you should invest

play12:59

your money you should I didn't do any of

play13:01

that when I was young but like what did

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you do what are some of the stories or

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ways you spe yeah I mean you know I I

play13:05

had the huge mansion with all the cars

play13:07

and you you know I had more cars than I

play13:09

could fit in my garage and it's Ferrari

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Lamborghini Bentley blah blah blah it

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was all that crap and you know um

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private jet and you know like your own

play13:19

private jet no I didn't have my own

play13:20

private jet probably I I I didn't make

play13:23

that much money um but no chart you know

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go Charter a jet and you know have a

play13:28

bunch of friends like Hey we're all

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flying down to Miami you know um go on

play13:33

elaborate trips and you know I just I

play13:37

blew money like there was no tomorrow

play13:39

when I was younger I didn't know any

play13:41

better and you know and and whether good

play13:43

or bad or indifferent you know I don't

play13:45

regret it um I wish you know yeah I wish

play13:48

I probably would have invested it when I

play13:50

was younger um my mom always told me

play13:53

like should be investing you should save

play13:55

your money and you know me I think I'm

play13:57

smarter than you like you've never made

play13:58

a lot of money you don't know you don't

play14:00

know what it's like Mom and I in Hinds

play14:02

set I'm like yeah Mom was right like I

play14:04

should have you know invested my money

play14:05

and saved my money um but but hold on

play14:08

what but how was it though like how

play14:11

awesome it was cool yeah I was I was 21

play14:13

years old I mean I was 21 years old I

play14:15

was Private with Ferraris and stuff I

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mean I was a millionaire I was 21 you

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know and so like I literally it's like I

play14:20

was I was Hood Rich I mean and I can say

play14:22

Hood Rich because I came from the hood

play14:23

so like but that's that's how I was

play14:25

living I mean I was I didn't I didn't

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know any better I didn't have guidance I

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didn't have I really didn't have anybody

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in my life who I could talk to or who I

play14:36

could look up to to like provide proper

play14:38

guidance which is I think one of the

play14:40

reasons why nowadays you see you know

play14:42

over time you've seen a lot of these

play14:43

like athletes who you know come from

play14:45

nothing they'll get a $100 million

play14:46

contract and then all of a sudden it's

play14:47

like you know they blew it all it's like

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you know you don't know what you don't

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know one thing about me that I think

play14:54

that has allowed me to kind of have the

play14:56

path that I've I have had

play14:59

is once I figured

play15:01

out if I if I built a business and even

play15:04

if that business was profitable and even

play15:06

if that business was making me 100,000

play15:09

200,000 a year you know way back in the

play15:12

day if I didn't want to do that business

play15:14

forever I would literally shut the

play15:15

business down like the next day like I I

play15:18

I I was I would go cold turkey I went

play15:20

cold turkey on so many of my businesses

play15:22

that in hindsight like I'm like oh man I

play15:24

was an idiot like I should have hired

play15:26

somebody cuz a lot of these businesses

play15:28

were sole proprietorships where like it

play15:30

was a business but it was a oneman

play15:31

business that I had going where I could

play15:33

have just hired someone for $50,000 a

play15:35

year to like keep operating the business

play15:37

and then I could have you know made

play15:40

earned the profits above and beyond that

play15:42

I wasn't I I wasn't

play15:44

that um I didn't understand business

play15:46

well enough that like you could even

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like go out and like hire people to like

play15:51

replace you and so there were a lot of

play15:54

like companies I had early on where they

play15:56

were successful they were making money

play15:58

and I was doing very well at the time

play16:00

for where I was but as soon as I felt

play16:03

like I don't want to do this for the

play16:04

rest of my life my exit strategy was

play16:06

literally like okay I'm going to just

play16:08

shut it down tomorrow and figure out

play16:09

what's next and I would live off of the

play16:11

savings I had and you know I'd usually

play16:14

have some type of savings and I'd live

play16:16

off the savings until I figured out what

play16:17

was the next business but I did that

play16:19

several times you've done over 30

play16:20

different businesses to where we are

play16:22

today can you walk us through at least

play16:24

some of these different businesses that

play16:25

you've tried over the years yeah and I

play16:27

actually I told you I brought it cheat

play16:28

sheet because a lot of these things I've

play16:30

just done so many things over the years

play16:32

I'm like oh I forgot about that I forgot

play16:34

about that and multiple digital

play16:35

publishing companies over the years um

play16:38

we did a lot we had you know think of

play16:40

like uh ebooks or courses things like

play16:43

that I mean some some things were you

play16:45

know mainstream some things were really

play16:47

random I mean we had products on like

play16:49

you know pre-written wedding speeches

play16:51

things on like how to beat a speeding

play16:53

ticket um natural ways to like stop

play16:56

snoring uh you know things like you know

play16:58

we were teaching affiliate marketing

play16:59

teaching SEO uh

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AdWords um you we we probably had north

play17:05

of 20 different like product Lines

play17:06

within the business of digital

play17:08

publishing uh at one point in time I had

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you know we had a staff of I want to say

play17:14

15 writers you know uh in house and this

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was this nobody was outsourced it was

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all Under One Roof we had like 300

play17:20

employees and um it was a pretty big

play17:23

digital publishing company with like

play17:26

just everything um under the sun we you

play17:29

know find product experts in different

play17:31

Industries and you know bring them in

play17:33

and kind of build build products around

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them one company I had which is very

play17:37

timely today because chat GPT is

play17:40

obviously like a huge thing now um I had

play17:42

one of the first like AI companies and

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it's not real true AI but I had uh a

play17:47

company called intell aat which was an

play17:49

AI chatbot this was like the early mid

play17:51

2000s so I was a you know a big hosting

play17:54

affiliate for a while and then

play17:55

eventually ended up starting my own

play17:56

hosting company had a couple different

play17:58

web hosting Brands you know other

play18:00

businesses so I've had you know search

play18:01

optim optimization company had multiple

play18:04

health supplement companies sold every

play18:06

health supplement Under the Sun you

play18:08

could possibly think of um had a

play18:11

business where it was a timeline of your

play18:13

life uh so my timeline.com a digital

play18:15

timeline of your life that was another

play18:17

thing that didn't work uh another

play18:18

company which was an app company uh

play18:21

called daily Pick so it's like a you

play18:22

know just a day a picture of a day uh

play18:25

app that also didn't work um started RV

play18:29

share uh along with RV share actually

play18:31

built out like you know 10 additional um

play18:35

uh RV related websites in the space um

play18:39

ultimately when I stepped away from that

play18:41

that those other websites didn't become

play18:43

a a focus um so they never really you

play18:46

know made much of them uh and then you

play18:50

know now today I have uh Resort style

play18:52

vacation homes which is the Airbnb

play18:54

company um there's been a whole bunch of

play18:56

other things that I didn't list off and

play18:59

are not on my list um cuz that was maybe

play19:01

like 15 things but when i' have gone

play19:04

through and like tallied up everything

play19:05

I've ever done I mean I owned part of a

play19:06

nursing home at one point in time um

play19:09

I've done I've done a lot and I've done

play19:11

so many different things and and from

play19:12

time to time like I'll find something in

play19:14

my email and I'm like Oh my from you

play19:16

know I'm searching for something I'll

play19:17

find something from like 10 12 15 years

play19:19

ago I'm like oh my gosh I totally forgot

play19:22

that business that I built and it would

play19:24

be like a real business it had like real

play19:25

Revenue it have like you know something

play19:26

that I you know probably maybe had like

play19:28

$30,000 in revenue and just never really

play19:31

got enough traction so i' like

play19:32

ultimately like shut it down but yeah

play19:34

I've done a whole bunch of different

play19:35

things over the years uh how do you

play19:38

identify opportunities to things that

play19:39

want to do businesses in yeah I mean so

play19:43

early on I was literally just looking

play19:44

for like any way to make money I mean I

play19:47

was young Scrappy I came from nothing I

play19:50

was just trying to like Escape poverty

play19:52

so to speak and I I was just looking for

play19:55

ways to make money I was not look I was

play19:56

not analyzing businesses you know like

play19:59

in the early days of like eBay I was

play20:01

literally just like searching eBay for

play20:03

like what could I make hm what's

play20:04

something that like is selling on eBay

play20:06

that I can make so here's a good here's

play20:07

a good example of something where like I

play20:09

was literally just searching eBay for a

play20:11

business idea on eBay I ended up turning

play20:13

into a 6figure business so some I saw

play20:16

someone selling dollar bills with

play20:18

pictures of celebrities on the dollar

play20:19

bill on a $1 bill and I'm like oh that's

play20:22

interesting I'm like couldn't I just get

play20:25

sticker paper and print out a picture of

play20:27

a celebrity and cut it out and put it on

play20:29

a $1 bill and sell it like they're

play20:30

selling I'm like there has to be

play20:32

something else to this so I bought the

play20:34

product on eBay came to me and it was

play20:37

literally just a $1 bill with a printed

play20:40

out with a sticker paper and with a

play20:42

picture of Michael Jordan on it so that

play20:44

night I became I was in the dollar bill

play20:46

business and literally I built that

play20:49

business up to I was making a couple

play20:51

hundred grand a year selling dollar

play20:52

bills and I was selling dollar bills on

play20:54

average for probably like 15 bucks a

play20:55

piece and the dollar bill business was

play20:57

very good for a period of time until I

play20:59

decided I didn't want to be in the

play21:00

dollar bill business before and I just

play21:01

kind of at one point in time cut that

play21:03

cold turkey and moved on to the next

play21:04

thing but you know I I think just

play21:07

keeping your eyes open looking for

play21:09

opportunities like what is something

play21:10

that someone else is doing that you

play21:13

could do or what's something that you

play21:15

know you can improve upon slightly do

play21:17

you have other stories like the dollar

play21:19

bill one that worked or didn't work cuz

play21:22

that that I think that's that stuff also

play21:23

inspires people to how they're thinking

play21:25

about opportunities right like people on

play21:27

eBay are buying and selling things all

play21:29

right let me look there to see what else

play21:30

is happening yeah the Airbnb business

play21:32

which we get you later you rented it out

play21:33

you did it you built something cool for

play21:35

your kids it's working all right now I

play21:36

have 20 of them yeah what other kind of

play21:38

stories do you have from earlier on yeah

play21:40

I mean this is this is like very

play21:41

parallel to the the dollar bill thing

play21:44

but just I guess another example of of

play21:46

that is you know I also sold a ton of

play21:48

window clings at the time um window

play21:51

clings so basically just like a clear

play21:54

image with a picture printed on it that

play21:56

people would put on a window or a car

play21:59

window or whatever um I didn't know

play22:01

anything about copyright at the time so

play22:03

I'm not like this is not something I

play22:05

would do today but I was a young kid and

play22:09

um you know I saw somebody selling

play22:11

window clings online of like different

play22:13

celebrities or whatever it may be and

play22:16

I'm like I can just go to the store I

play22:18

can I can go to Office Max they got

play22:20

window cing paper I can literally buy

play22:22

and I can put in the printer and print

play22:24

out window clings and I did that and I

play22:26

literally started making a bunch of

play22:27

money you know probably sold couple

play22:29

hundred thousand on window clings um and

play22:32

you know they were you know like I said

play22:34

they were probably copywritten um which

play22:36

I probably you know shouldn't have done

play22:38

and didn't at the time I had no idea I

play22:39

didn't even know what copyright was you

play22:41

I think I I got my first like dmca

play22:43

notice of like hey you can't be it was

play22:45

Toby Keith I think I saw the Toby Keith

play22:47

window cling and uh his real name's not

play22:50

Toby Keith his real name's Toby Corell

play22:51

and I only know that because I got a

play22:53

dmca notice from his lawyer saying hey

play22:55

you're not allowed to sell a Toby Keith

play22:57

window cling because you don't have the

play22:59

permission you don't have the the the

play23:01

you know we have a trademark on this and

play23:03

then so I stopped selling I'm like oh

play23:04

sorry I didn't know I literally had no

play23:05

idea like at the time I was so naive I

play23:07

didn't even know you weren't allowed to

play23:09

do that like I was like oh okay I could

play23:12

just print this out on my printer and

play23:13

sell it like I didn't know there was

play23:14

this thing such as copyrights or

play23:16

trademarks or anything and you find that

play23:18

out and you stop doing it what was a

play23:20

story or experience that was one of the

play23:22

lower moments during these early years I

play23:24

had a business partner who was my best

play23:25

friend like absolute best friend

play23:29

and we lived together in the same

play23:31

building hung out together every day and

play23:36

um he like left the country and left

play23:40

with all of our money and um yeah it was

play23:44

it was that was that was tough that was

play23:46

really tough really tough because we

play23:48

were doing very well at the time and

play23:52

um one day he left the country and

play23:56

didn't come back and there was there was

play23:58

there was a whole story on how he got

play24:00

the money and he basically before he

play24:01

left kind of pitched me on this oh I got

play24:04

this great investment for us it's

play24:05

guaranteed etc etc I need you to wire

play24:09

money and I you know did so and

play24:14

um yeah it uh unfortunately he didn't

play24:18

come back and we weren't business

play24:19

partners anymore um so that was that was

play24:22

a really really low point in my life but

play24:25

I was more distraught more so than the

play24:27

money was the friendship that I I lost

play24:31

and like the emotional impact that had

play24:34

of like I had somebody who I thought was

play24:36

like my best friend who like I hung out

play24:38

with every single day we were in we had

play24:39

an office together we were with each

play24:41

other every day we hung out at night you

play24:44

know we hang out on the weekends we took

play24:45

trips together um so yeah that that was

play24:50

that was definitely definitely a low

play24:51

point you made a lot of money doing

play24:53

affiliate marketing I believe and like

play24:54

internet marketing kind of company

play24:55

direct marketing which there's always

play24:57

like I would say gry Zone with those so

play24:59

some of those companies I'm proud of and

play25:01

some of those companies I'm not proud of

play25:02

um you know it's like I yeah I I look

play25:05

back you know I had before I did RV

play25:08

share I had a business that was you know

play25:11

I would call it an internet marketing

play25:13

business it was a health supplement

play25:14

company but basically we were just

play25:16

pedalling whatever was like the hottest

play25:19

latest craze that Dr Oz was pitching you

play25:21

know on TV I was like oh this is the

play25:23

miracle weight loss pill or whatever and

play25:25

you know that that business I mean

play25:28

scaled that up literally from like zero

play25:30

to like $300,000 a day in sales in like

play25:33

a couple a day in in like two weeks um

play25:36

and that was we we just we were tied in

play25:38

with a lot of traffic sources and we had

play25:40

a lot we it was really driven off of

play25:42

Affiliates we did almost none of our own

play25:44

media buying for it so that $300,000 a

play25:47

day it was all Affiliates that's a

play25:49

business that I ultimately I ended up

play25:51

walking away from I was making a whole

play25:52

bunch of money and um I gave my Equity

play25:55

back to my partners and I just said I

play25:57

don't want to do this anymore I don't

play25:59

feel good about it I don't believe in

play26:00

the products I don't believe in the

play26:01

marketing I I'm not proud of this like I

play26:04

literally lose sleep at night like

play26:06

thinking like I'm just like basically I

play26:09

felt like a snake oil salesman of like

play26:11

just selling you know Placebo pills and

play26:14

I'm like I don't like this this is this

play26:15

this is this is not good I was you know

play26:18

personally making you know

play26:21

300,250 $300,000 a month and that was my

play26:24

personal cut take-home that I just gave

play26:26

back to my partners I was like you you

play26:27

guys can have this um I just I didn't I

play26:31

didn't want to do it anymore and that

play26:33

actually was a big pivotal moment in my

play26:35

life because that

play26:37

was when I stepped away and started RV

play26:40

share and had I not done that I might

play26:43

not have started RV share when you were

play26:44

doing RV share did you give up and sell

play26:48

everything before share and you said I'm

play26:49

only doing one like what what is that so

play26:51

how does that relate to RV yeah yeah

play26:53

yeah so I mean when I buil RV share it

play26:55

was literally right after the supplement

play26:56

business like I decided so I got one of

play27:00

the best pieces of advice that I've ever

play27:03

received and this is another piece of

play27:05

advice that has kind of changed my life

play27:09

um a friend of mine Perry Belcher he

play27:12

said to me look at what you're doing and

play27:15

see are there any old happy Rich guys

play27:17

who are doing what you are doing or did

play27:22

what you were doing and at the time you

play27:24

know I was selling Health supplements

play27:27

that I did not believe in you know I

play27:29

mean they were fine for people to take

play27:31

they were probably more Placebo than

play27:33

anything it was you know whatever Dr

play27:35

Oz's latest diet pill was um you know

play27:39

but I didn't believe in it I personally

play27:41

just did not believe in what it was

play27:43

prior to RV share I had a lot of

play27:47

different businesses running

play27:49

simultaneously at the same time so I was

play27:51

definitely very dist distracted and

play27:53

scatterbrain and I had the you know the

play27:55

shiny coin syndrome big time

play27:58

um when I built arv share I I just made

play28:01

a commitment that like I'm not doing

play28:03

that again I'm this is I'm all in on

play28:05

this like this this is this is what I'm

play28:07

doing and then I I did I was selling

play28:10

things so to fund that business I owned

play28:14

some long-term traditional rentals okay

play28:18

nothing remotely to this scale homes

play28:21

that I had bought for $30,000 to $50,000

play28:24

okay nowhere near on on this level and

play28:28

um I was building RV share off my

play28:31

savings and basically you know I as the

play28:36

the business was not generating Revenue

play28:39

nearly as quickly as I thought it would

play28:41

and so I bootstrapped that business off

play28:44

of my savings and that required for me

play28:46

to make payroll and continue building

play28:48

that business roughly how much you sell

play28:50

RV share for and then why did you decide

play28:52

to sell why I decided was I was burnt

play28:55

out at the time um um just had my second

play28:59

child you know I I had just my mom had

play29:04

just passed away just lost her I was

play29:07

working seven days a week working like

play29:10

crazy um we had a couple different

play29:13

opportunities we were we were looking at

play29:15

you know I wanted to buy my time back at

play29:16

that point in time and it was going to

play29:18

also allow me to get a meaningful amount

play29:20

of money that you know if I invested it

play29:23

and was wise with it would be you know

play29:25

would allow me to not work for for the

play29:27

rest My Life um as far as how much you

play29:29

know we sold for I mean I think it's

play29:31

public we had two different rounds um

play29:35

where the majority was secondary um uh

play29:39

fundraising rounds um the most recent

play29:42

one was with KKR at a little bit more

play29:45

than 100 million um but that doesn't

play29:47

mean I personally put $1 million in my

play29:50

you know bank account um so we had you

play29:53

know at at that point I was not a

play29:55

majority uh shareholder in in the

play29:57

business business uh you know I had sold

play29:59

a majority uh stake to trading partners

play30:02

other private Equity Firm prior to that

play30:05

I'm still an equity holder in the

play30:06

business today so I still have Equity um

play30:08

so I've had two bites at the Apple so

play30:10

far probably hopefully a third bite um

play30:13

and who knows depending on how things go

play30:15

the third bite could be just as big or

play30:17

bigger than the first two bites it's

play30:19

cool because you know my partners became

play30:22

millionaires um and so that was really

play30:25

cool and fulfilling just you know like

play30:27

Not only was I able to you know do well

play30:29

financially but you know they were able

play30:31

to do well financially from it we built

play30:33

a lot of jobs you know built a good

play30:36

company um I was able to do well and

play30:39

make enough money that you know like I

play30:41

said not I don't have to I don't have to

play30:44

worry if you know about my electric bill

play30:46

and I don't have to worry about bills

play30:47

anymore and think about those things so

play30:49

that's that's nice what did you learn

play30:51

from starting and failing with these 30

play30:54

different businesses it's not failure

play30:55

it's just learning you know it it's

play30:57

really only failure if you quit and I

play30:59

think just having to be persistent um

play31:02

having to grind it out uh you don't have

play31:04

to be the smartest I mean I dropped out

play31:06

of high school um I would say I'm

play31:08

probably of like average intelligence um

play31:11

I'm around a lot of like really smart

play31:14

people these days who are like really a

play31:16

lot smarter than I am and like um can be

play31:20

quite intimidating intellectually and so

play31:23

like I think that one thing I've learned

play31:26

is like you don't need to be a genius

play31:28

you just need to put in a ton of action

play31:31

and just keep plowing forward and

play31:32

pushing forward and you will learn and

play31:35

learn and learn and it'll compound and

play31:37

your learning will compound as long as

play31:39

every single day you are giving it your

play31:40

all and pushing forward to the next next

play31:43

step too many people just get too

play31:45

discouraged and they just don't give it

play31:47

their all or they give it their all for

play31:48

a short duration of time and they don't

play31:49

see immediate feedback that feedback

play31:51

loop the feedback loop is not always

play31:53

immediate you know you got to keep

play31:54

putting that work in and sometimes that

play31:56

feedback loop is not going to hit hit

play31:57

you for a while and I think the thing

play31:59

I've learned is really like you can

play32:00

really do anything I mean you you can do

play32:02

anything I I have I have a buddy who

play32:04

started um one of my groomsmen who

play32:07

started a company called made in space

play32:09

and they put a 3D printer on the

play32:11

International Space Station and I

play32:13

remember he and I we were kind of like

play32:15

coach at the time he started that

play32:16

company I was starting RV share and we

play32:18

were like each other's coaches and we

play32:19

would have a weekly call with each other

play32:20

kind of like Consulting on each other's

play32:22

businesses and what what's going on just

play32:24

G giving each other guidance and

play32:25

feedback and I remember him telling me

play32:27

he's like I know nothing about space I

play32:29

know nothing about engineering I know

play32:31

nothing about any of that but I can find

play32:33

people who do you know and even though I

play32:35

don't know any of this like I can find

play32:37

people who who do know how to do this

play32:39

and like the vision is this and I can

play32:42

still make that happen even though I

play32:43

don't I don't know that and I think that

play32:45

that's one thing is most people think

play32:47

that they need to know everything before

play32:49

they do anything and I think that's

play32:51

totally opposite you need to know

play32:52

nothing you just need to do a lot and

play32:54

you'll figure a lot along the way how do

play32:56

you know when to push through something

play32:57

versus just maybe like all right this is

play32:58

enough and I should to something else

play33:00

yeah so I mean I think for me RV share

play33:02

was a good example of that where um like

play33:05

I was saying it took a lot longer and a

play33:07

lot more uh money to get that off the

play33:09

ground but I I saw some positive

play33:13

feedback loop so even though I wasn't

play33:14

making money for the longest time with

play33:16

that business it wasn't generating any

play33:18

Revenue we started to see we were

play33:20

getting some traffic we were getting

play33:21

listings we were getting people

play33:23

transacting through the site even though

play33:24

we weren't in the beginning we weren't

play33:26

actually party to that transaction

play33:28

people were just we were connecting them

play33:29

almost like Craigslist we were

play33:30

connecting them directly and we would

play33:32

ask people hey did you rent you know and

play33:35

we we would get feedback yes we rent it

play33:36

so like we knew like okay great well

play33:38

there's transactions happening even

play33:40

though we're not making money here this

play33:42

is still going in the right direction

play33:44

and so I mean I think you you know you

play33:47

do need some type of positive feedback

play33:50

loop but at the same time you need to be

play33:52

willing to have delayed gratification so

play33:54

it's kind of like you know you need you

play33:55

need to kind of it's more of a I guess a

play33:59

an art than a science um to figure it

play34:01

out on a situational basis one thing I

play34:04

wish I would have known earlier on in my

play34:05

career and one thing I would kind of go

play34:07

back and tell a younger version of

play34:08

myself is make sure you're playing the

play34:11

right game and one thing I've learned is

play34:15

it doesn't matter like what you do if

play34:17

you're going to go and build a business

play34:19

it could be a small business or it could

play34:20

be a massive business it's going to take

play34:23

about the same amount of effort and

play34:24

energy to become super successful at

play34:27

anything

play34:29

and if you're playing the right game

play34:32

your outcome can be exponentially better

play34:36

than if you're playing the wrong game

play34:37

you know if if your goal is basically

play34:39

just just to open One restaurant and you

play34:42

know that's you're very limited in like

play34:44

what your upside is versus you know if

play34:48

you want to go and build a software

play34:50

company then obviously you know you

play34:53

could have you can build a billion

play34:55

dollar business both of those the owner

play34:58

of the restaurant and the owner of the

play34:59

software company they're both going to

play35:01

work really hard they're both going to

play35:03

put all of their energy all of their

play35:04

effort into their business to make it as

play35:06

successful as they can but they're going

play35:08

to have very different outcomes you know

play35:10

if once if they're both successful you

play35:12

know one is going to have lifechanging

play35:16

you know amount of you know income and

play35:19

they're going to probably become very

play35:21

very wealthy from it and it could be

play35:22

even generational wealth and the other

play35:24

one they may they might have worked

play35:25

thems into you know a successful job

play35:28

that maybe allows them to pay for the

play35:31

pay for pay the bills but it doesn't

play35:32

have the same type of outcome and I

play35:34

think that like if I were to look back

play35:37

at my life and teach my my earlier

play35:40

younger version of myself something

play35:43

is don't do things that re that have a

play35:49

longer time Horizon I was really focused

play35:51

on things that would make money tomorrow

play35:53

like what is something I can do today

play35:55

that'll make money tomorrow and and I

play35:57

wasn't really willing to like put in the

play35:59

work to see the return more long term

play36:04

and I think I shortcut it myself on

play36:06

quite a few things and I think there was

play36:08

a few businesses I built that if I would

play36:10

have stuck with it longer they would

play36:11

have become very very successful um so

play36:15

that's one thing is just kind of like

play36:16

have a longer time Horizon and really

play36:18

look at in like a fiveyear chunk like if

play36:20

I'm going to go and build something I'm

play36:22

investing five years of time into this

play36:24

and I have to be able to you know expect

play36:26

that I'm probably not going to have like

play36:28

a massive Payday for five years you know

play36:32

um and then you know the other the other

play36:34

thing is really just making like I said

play36:35

making sure you're picking the right

play36:37

game I've see so many

play36:39

people going into business and wanting

play36:43

to do something and they say like they

play36:45

want a lifestyle to teer but the

play36:47

business they're going into if they're

play36:50

the most successful at that business

play36:52

their lifestyle is only going to be here

play36:54

and the the the game they're playing

play36:56

doesn't match with the lifestyle they're

play36:57

trying to achieve how did it feel to

play36:59

finally make it you have the money

play37:00

eventually you're not homeless like were

play37:02

you happy did it give you the happiness

play37:04

you wanted uh I had a feel to make it

play37:06

yeah I mean I think you find out I think

play37:07

a lot of people find this out like you

play37:09

know you you put in all this hard work

play37:12

and you think like oh I'm GNA make it

play37:13

I'm gonna make it and then go sit on the

play37:15

beach and life will be great and that

play37:17

it's like that for a little while I've

play37:19

always I've always been happy so like

play37:20

money has I think allowed me to like do

play37:23

more things and you know um have more

play37:26

experience es and help more people and

play37:28

do things like that so that's great I

play37:29

mean that's that's great about the quote

play37:31

money um but I would say for me like

play37:35

literally the biggest thing for me as

play37:36

far as like when I made it had nothing

play37:39

to do with money had 100% to do with

play37:42

time I own my time I own mying time and

play37:47

that is the biggest thing like if you

play37:49

own your time and you own your calendar

play37:51

and you own your schedule like it if you

play37:54

own your time and you're making 100

play37:56

Grand a year

play37:57

you have a better life than a guy who's

play37:58

making $5 million a year but doesn't own

play38:01

his time how much money did you have

play38:02

when you finally felt time Rich it

play38:04

wasn't about a certain dollar amount it

play38:06

was about passive income and so what

play38:10

happened was when I exited RV

play38:12

share I made enough money that I could

play38:16

just put that Capital into passive 100%

play38:21

passive Investments that I'd be set for

play38:23

life okay now my lifestyle might not

play38:26

have been what I wanted it I wouldn't

play38:27

have been able to Charter a private jet

play38:29

and purely off the passive income alone

play38:32

but I would have all my bills would pay

play38:34

and nice house have you know every

play38:36

really good lifestyle um I had two level

play38:40

I would say I had two levels of time

play38:42

Freedom the first in Financial Freedom

play38:45

and just like just fre that feeling of

play38:48

fre Freedom one was right when I exited

play38:52

RV share and there was like a lump sum

play38:53

of money okay but I didn't touch that

play38:55

money I didn't go out out I didn't buy

play38:57

things with it I I I bought two things I

play39:00

spent money I invested almost all of it

play39:03

except for two things uh we bought my

play39:06

wife a fancy coffee maker for like6 or

play39:09

$700 and we went on a trip I took my

play39:13

wife my kids and my wife's parents and

play39:15

we went to Europe for the

play39:16

summer outside of that I didn't touch

play39:19

any of the principle I invested 100% of

play39:22

it and that so that is when my lifestyle

play39:27

like started improving as far as like me

play39:29

being more comfortable to spend money

play39:32

was actually once my passive income

play39:34

started kicking in from Investments and

play39:36

so once that money started kicking in

play39:38

then I was more comfortable with like

play39:40

okay then you know fly nicer then you

play39:44

know go to nicer restaurants then go to

play39:46

nicer vacations it was really kind of at

play39:48

that point in time where I I started to

play39:51

become a lot more comfortable with

play39:53

spending money because I I was fortunate

play39:56

making a lot of money when I was younger

play39:58

but blowing it all and I knew that like

play40:00

the amount of money I made was enough

play40:03

money that if I was a good Steward of

play40:05

this capital I could be set for life but

play40:08

it was also the same amount of money

play40:10

that I could I could go blow it pretty

play40:12

quickly as well and so you have I mean

play40:14

it's like Mike Tyson made $500 million

play40:16

and blew all of it like I didn't make

play40:17

anywhere near $500 million but I made

play40:20

enough that was like if I was a good

play40:22

Steward of that capital I would never

play40:24

have to work again and I could do

play40:26

whatever I want it really for the for

play40:27

for the most part I couldn't buy a yacht

play40:29

or a jet but like you know I could live

play40:32

great live a great life what do you

play40:34

think the business opportunities are

play40:36

today can I start an airb luxury

play40:38

business what are the areas you're like

play40:39

if you were starting business today

play40:40

you're like oh these are categories I'm

play40:42

interested in or I think there's you can

play40:43

make a million dollars of more doing it

play40:45

Airbnb is not going anywhere I don't

play40:48

think

play40:49

that there's opportunity there today

play40:52

there's going to be opportunity there

play40:53

tomorrow there was opportunity five

play40:54

years ago I I I think that this is here

play40:58

for the long term people are always

play41:00

going to want to rent uh a vacation home

play41:03

um you know if you're traveling with a

play41:05

large group you know not everybody but

play41:07

like a lots of times it's just more

play41:08

optimal if you're traveling with a large

play41:10

group versus staying in a hotel um so I

play41:13

think that that opportunity is here

play41:15

today it'll always be here I don't see

play41:17

it really disappearing I think the

play41:18

opportunity within that space is really

play41:20

just comes down to like building

play41:21

something unique building something

play41:23

different um really standing out from

play41:27

the crowd and not just being another me

play41:29

too

play41:31

um yeah I in in general as far as like

play41:34

other opportunities if I if I were to go

play41:36

back in time today and I was 20 years

play41:40

old um I would be spending a lot of time

play41:44

on trying to learn about AI uh which

play41:46

obviously is the big craze today but I

play41:49

think it's that's a it's a very real

play41:51

thing that's going to have meaningful

play41:53

impacts um you know over the next 5 10

play41:55

15 20 years

play41:57

uh and then I I'm I'm super bullish on

play42:00

YouTube I am so bullish on on on YouTube

play42:04

um and maybe it's just because I know a

play42:06

couple people who have you know kind of

play42:08

built up uh a nice little business and

play42:12

nice life for themselves off in YouTube

play42:15

um but just being a content creator and

play42:18

kind of building your own platform today

play42:20

and around any subject matter and it

play42:22

doesn't even really matter I think I

play42:23

think that if you can become like the

play42:26

top 1% in any topic man you can build a

play42:30

great business for yourself and a great

play42:32

life can you tell us your investment

play42:33

thesis for your Airbnb because it's not

play42:35

I think what's interesting with the

play42:36

Airbnb thing that you're doing versus

play42:37

everyone else is everyone knows about it

play42:39

but you're playing a game that seems

play42:41

different and that you're winning so how

play42:42

did you first identify the opportunity

play42:44

and then I think the other thing that's

play42:45

interesting about your strategy is that

play42:47

you didn't just do it once you've done

play42:48

it now almost 20 times tell us about a

play42:50

little about those two two things I have

play42:52

a more artistic strategy than than a um

play42:55

mathematical strategy with this business

play42:59

um I'm probably totally opposite from

play43:01

most Real Estate Investors uh most

play43:03

people I know are looking at

play43:04

spreadsheets and doing Prof foras and

play43:07

I'm doing back of the napkin um here's

play43:10

how much it's going to cost here's how

play43:11

much I think you know uh can rent I can

play43:15

rent the place for here's how much the

play43:17

improvements are going to cost

play43:20

um I think for me it really just comes

play43:23

down to like building cool

play43:28

experiences and I feel like if I build a

play43:33

cool experience and if I stick within

play43:36

somewhat of a range of a

play43:38

budget that the return will be good and

play43:41

that's kind of how I've approached it

play43:43

it's it's probably not the best way to

play43:45

approach it but for me it's worked well

play43:46

the first one you added like the pickle

play43:50

ball cord you added like shuffle board

play43:51

outdoor uh bowling and it worked really

play43:54

well I think what a lot of in investors

play43:56

do is like oh this is cool I'm making

play43:57

money great mhm what's your thought

play44:00

process then you're like no I'm going to

play44:01

get 20 of these my thesis on that

play44:03

property was buy a property that's a

play44:05

little bit outside of town for a small

play44:07

fraction of what it would cost in town

play44:10

add the add the special amenities and I

play44:13

should be able to get returns comparable

play44:15

or better than the properties in town

play44:17

that cost three times as much and that

play44:19

played out um and yeah so I mean it made

play44:22

a lot of sense I'm like okay well let's

play44:24

keep keep doing this not all the prop

play44:26

were that exact strategy of buy outside

play44:27

of town add amenities and get in town

play44:30

returns but people started doing the

play44:32

same thing and that's when we really

play44:36

transitioned to like these more large

play44:39

estate properties that we're at today

play44:41

that are a lot harder to duplicate you

play44:43

know that's I I I want I wanted

play44:46

properties that were not just going to

play44:49

perform well when I bought them in a

play44:52

year or two years 3 years later I wanted

play44:54

properties that were going to perform

play44:55

well 5 10 15 20 years later because even

play44:59

if you went 10 15 20 years down the road

play45:02

like you don't have a whole lot of them

play45:04

like places like this this is 15 acres

play45:06

in Southern California you know there's

play45:09

not a whole lot of even land available

play45:13

of this size to be able to like do

play45:15

something like this and so you really

play45:18

like unique assets is really where I've

play45:21

transitioned to today of like how can we

play45:24

buy or build something

play45:26

that no one else either can or will do

play45:29

can we walk through the economics uh of

play45:32

this you know this airb I think people

play45:34

would be curious like how much does it

play45:35

cost to buy how much it cost for

play45:36

amenities what do you target your

play45:38

returns at does it cost to run just at a

play45:40

high level yeah I mean at at the highest

play45:42

level the metric that I focus on is the

play45:45

unlevered yield so assuming you bought a

play45:48

property let's just say let's just take

play45:49

this one let's take this property for

play45:50

example so this property let's just say

play45:53

you know around 2 and half million

play45:56

quisition uh r a million and a half in

play45:59

um upgrades so total Capital into the

play46:02

property 4 million assume there's no uh

play46:05

mortgage on that whether there is or not

play46:07

I don't I just kind of make the

play46:08

Assumption for the calculations and like

play46:10

the way I look at it is if there's no

play46:12

mortgage on your property which that's

play46:13

not the case but that's for my

play46:15

calculations and then I want to see a

play46:17

10% return so if there was $4 million

play46:20

into this property I want to see a net

play46:22

income on an annual basis of $400,000 so

play46:25

and that's that's really

play46:26

you know across the board on all of our

play46:28

properties that's that's the number

play46:30

that's been the Baseline now

play46:32

today's that's not that's not where I

play46:34

would Baseline them today that number

play46:36

would actually be a lot higher today

play46:38

because the cost of capital today is a

play46:40

lot is a lot more and interest rates are

play46:41

a lot higher sounds like they're

play46:43

generating based on my envelope back of

play46:46

the envelope calculation million dollars

play46:48

a month profit for yourself or some

play46:49

ballpark of that but the craziest part

play46:51

is not even that how I I think you work

play46:54

how much a week on this business my

play46:56

involvement is is a half an hour a week

play46:58

to an hour a week call and that's it and

play47:00

so this business is really for me it's a

play47:03

it's a passive business um it's not a

play47:06

passive business at all but for me it's

play47:08

a passive business because I've set the

play47:11

the business up and built the business

play47:12

in that way that I have awesome people

play47:14

who are able to not only you know

play47:17

operate the business but help the

play47:18

business grow improve processes

play47:21

procedures and really optimize the

play47:24

business um without my

play47:26

what advice do you have for people

play47:28

watching who just getting started and

play47:29

they want to make their first million if

play47:31

it was easy enough to tell anybody hey

play47:33

here's exactly what you need to do to go

play47:35

get your first million everybody would

play47:36

be a freaking millionaire it's not like

play47:38

that like for for people who are looking

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for like the blueprint of like what is

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the ABC all the way to Z Blueprint of

play47:45

like how do I get to 1 million it

play47:47

doesn't exist because if that actually

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existed like everyone would just go and

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do that exact exact formula like you got

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to the world is dynamic things change

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you got to learn along the way and I

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think that you

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know the person who you're going to

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learn from like if I if I wanted to

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learn from you or I want let's just say

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I wanted to you know learn to be a real

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estate developer and that was my thing

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I'm going to go out and I'm going to

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contact all the most successful real

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estate developers in my area who I could

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go like and physically be with them and

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work with them not just you know

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remotely some positions it is

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appropriate to work remote but this

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position I'd want to I want to actually

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be with them so how can I go and and

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essentially Shadow them and help them

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and work work with them and do whatever

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they need me to do I'm going to get an

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education that you could not purchase

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anywhere else because it's like you're

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seeing the inner workings behind the

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scenes of a of a successful business or

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a successful person and what they're

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actually doing and you know you and I

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can sit here and talk about things today

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and like you know I can reminisce on

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like oh yeah I did X Y or Z you know

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back when we were building this and we

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did ab and C but it's very very

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different from actually being there on

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the ground like right next to somebody

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when they're actually doing it and I

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think that's the biggest thing is you

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need to be with someone when they're

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actually doing it and like help them in

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whatever form of fashion you can so you

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can just soak in as much as you can from

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whatever they're doing you know and

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for the people that I know who've done

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that there's not a lot of people who've

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who've who've taken that approach in

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life to try to like use this cheat code

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that's available to literally everybody

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but the ones that I do have that I know

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who have done that have done extremely

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well you know I have a friend who he did

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this and um he started with nothing and

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now he's worth like $400 million and

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that's all you know he he's he's of

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average intellect um super nice guy um I

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mean he's smart but he's not like a

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rocket scientist or anything like that

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he's just like you and I and um he he

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went out and he sought out somebody who

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was much further down the career pathway

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than he was and far more successful

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financially and when he showed up and he

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said hey I want to work for you for free

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I'll do whatever you want I want but the

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thing is I want to learn from you and I

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want to work directly with you and I

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want you to give me as many difficult

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hard tasks to that I can that I can

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solve for you as possible I will do

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whatever you want I'm going to be your

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best worker and you're not going to have

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to pay me a dime the only thing I want

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in return is I want to learn from you

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cuz it's one day I want to be where

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you're at and the guy said

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no and so he came back to him the next

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next week and said the same thing and he

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said no and he came back to him the next

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week and he said this the same thing he

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took four tries he he got told no by the

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same person four different times where

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he went to him he said hey I'm going to

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work for you for free I'll do whatever

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you want the guy's like no sorry kid not

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interested after the fourth try finally

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the guy was like okay you're persistent

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you're persistent I I'll give you a shot

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here come help me out with X X Y and Z

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and then little did he know or little

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did what came to fruition from that was

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with then less than a year he was doing

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a deal that this guy didn't want to do

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he's like this is a too small of a deal

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for me but hey kid you may want to do

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this deal and that was his first deal

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and that's what set him off on his path

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to success was having those inroads with

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the right person being the right place

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at the right time and understanding not

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only like access to the deal but what do

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you do with the deal and having the

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mentor and having the guidance and now

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having somebody who like understands it

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but it's like too small of a deal for

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him and he passed it along to to to him

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so I think just proximity putting

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yourself in proximity it's it's all

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proximity it's it's all people

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everything's people and business and

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proximity is hugely important you know

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it's like putting yourself in the

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proximity and being able to learn from

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the people you know who've done what you

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want to do and just go and offer to work

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for them and and and show value like you

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can't like you know I'm sure someone's

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going to watch this and and hit us up

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actually someone hit me up and make it

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through yes if they make it through

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that's awesome but don't just like you

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know don't send a message and be like

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hey can I work for you for free I'll do

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whatever you want like you got to stand

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out because like now that we're talking

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about this if you know who I don't know

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how many people will watch this video

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but it'll be a bunch and you know

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there's going to be a bunch of people

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will probably shoot you a message or

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shoot me a message and just with nothing

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more than like you know hey uh can I

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work for you for free and like that's

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not showing any real initiative like

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you've got to go above and beyond and

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really like you know if you're trying to

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reach somebody who has any type of like

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serious inbound um you got to go above

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and beyond but but in general like you

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and I are probably not the best people

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like I'm sure yeah you want to I do too

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like if there's you know the right

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person out there who could be who you

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could guide and mentor and who

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ultimately ends up being a huge asset

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for you and they're able to learn a lot

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it helps Excel their career like that's

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amazing but I feel like you know if

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people are going to do this they should

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they should go after people that are not

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popular they're not famous go after

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those people you're going to be much

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more likely to get a yes you're going to

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be much more likely you know you if if

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you're interested in a certain business

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you know go find the most successful

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business owners in your area in that

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particular Niche not the most successful

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person who is you know on a magazine or

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on TV or you know on uh has has a big

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big YouTube following or has a massive

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podcast find the people who are more

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under the radar but super successful and

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go ask them those are the people who

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you're probably going to be more likely

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to get a yes from

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what regrets do you have from your

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career and was the money worth

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it so I don't I don't really have any

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regrets business-wise um I mean I I've

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had a lot of failures um there's a lot

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of things I I've done that I wouldn't do

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again but I B business-wise specifically

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I've learned a lot from everything I've

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done whether it was good or bad whether

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the outcome was positive or negative I

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feel like I've been able to have a

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Learning lesson from everything

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throughout my journey so I don't really

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have any regrets business-wise um I

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really only have one regret in life and

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that was just not being able to spend

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more time with my mom you know at the

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end of her

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life

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um that's that's really the only regret

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I have ever and I tried to spend as much

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time with her as I

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could but towards the end she became

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pretty negative and I would leave you

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know hanging out with her and I just

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feel really bad cuz there was so much

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negativity and in hindsight I wish I

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would have realized like none of that

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negativity was about me it was about her

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being scared she didn't she was scared

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she she didn't have much time left and

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she didn't know how to communicate it

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and it just came out in a really

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negative way and

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um I wish I could have gone back in time

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and real realized like all this

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negativity is not about me she's just

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she's she's scared and she doesn't know

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how to communicate

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and I wish I wouldn't have taken it so

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personal what's most important in life

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for you that family family and friends

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and it's amazing because you're building

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these airbnbs that are really family

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oriented you've got jungle gyms and

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playgrounds and like a kid's Paradise

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yeah yeah I mean you know the the vision

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Behind These you know it's basically

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what I want to take my family to these

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properties would I want to share these

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properties with friends would I want to

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share these you know have experiences at

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these properties um that's that's how I

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build them out kind of with that vision

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in mind so I think that that's kind of

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what I was thinking earlier that is the

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final life cheat code yeah which is you

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know as much as we can have a lot of

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money and I think one thing to maybe we

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take for Grant is how much grind and

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suffering there was early on and how

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many reps and practice we all have to

play56:23

get in in business I feel like my 20s

play56:25

were pretty sad time me where I was

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trying a lot of things feeling

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frustrated a lot of time feeling doubted

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getting fired a lot but it was like

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ultimately okay well how do what's the

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cheat code of life and it's like all

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right how do I really enjoy this life

play56:38

and Building Things ideally maybe you

play56:40

want for yourself and also doing it with

play56:42

the people family and friends that

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matter to you yeah absolutely absolutely

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yeah and if I mean if you if you can

play56:47

build I've been fortunate to be able to

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you know like what what we're doing now

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with the Airbnb is is just building

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something for myself and sharing it with

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others and ultimately it's a win-win

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situation all around if you like hearing

play57:01

Mark's story you are going to love this

play57:03

video right up here we talked to a

play57:04

private jet billionaire to hear his

play57:06

story and we hitchhiked on his plane

play57:08

Uncle Noah loves you make sure you

play57:10

subscribe to the channel if you're not

play57:11

already and I'll see you out there pew

play57:13

pew

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