The Power Of Kindness: How Jonathan Wener Turned A $10k Loan Into A $15 Billion Empire

Summary

In this engaging interview, real estate mogul Jonathan Weiner shares his inspiring journey from a $10,000 loan to building a billion-dollar empire. He discusses his strategic approach to business, the importance of passion, and his commitment to community through philanthropy, emphasizing the value of investing in people and giving back.

Takeaways

• 🏦 The speaker leveraged a Royal Trust credit card to make a significant real estate purchase, demonstrating creative financial strategies.
• 💳 The use of a credit card for a multi-million dollar transaction highlights the importance of leveraging available resources and financial tools.
• 🏙️ The story of Jonathan Weiner's success in real estate, starting from a small loan and growing to a multi-billion dollar empire, underscores the power of ambition and strategic planning.
• 💼 The speaker emphasizes the importance of hard work, integrity, and strategic partnerships in building a successful business.
• 🤝 The concept of 'No is the beginning of negotiation' is a key theme, illustrating the importance of persistence and strategic negotiation in business deals.
• 💰 The speaker shares the strategy of giving employees a stake in the business, which not only motivates them but also helps in building a loyal and committed team.
• 🏗️ The speaker's approach to real estate development involves a deep understanding of the market and a willingness to take calculated risks.
• 🤔 The speaker's experience in dealing with bureaucracy and overcoming obstacles through determination and direct action provides valuable lessons in leadership and problem-solving.
• 💹 The speaker's emphasis on the importance of financial acumen and strategic financial management in business success is a key takeaway.
• 🌐 The speaker's story of building relationships and partnerships across different sectors and regions illustrates the value of networking and strategic alliances in business growth.
• 💖 The speaker's commitment to philanthropy and giving back to the community, even while building a successful business, highlights the importance of social responsibility and making a positive impact.

Q & A

What significant financial strategy did the speaker use when purchasing the Royal Trust building?

The speaker utilized a gold Royal Trust credit card to make the purchase, taking advantage of a 1% discount on the card, which amounted to a saving of 1.3 million dollars on the 65 million dollar deal.

How did the speaker's early experience with Maxwell Cummings influence his approach to business?

Maxwell Cummings gave the speaker his first opportunity in management at the age of 16, teaching him the importance of hard work and learning from the ground up, which instilled in him a strong work ethic and a hands-on approach to business.

What was the speaker's first major real estate deal and how did it shape his future in real estate?

The speaker's first major deal was the purchase and renovation of the Concordia building, which he bought with a 10,000 dollar loan. This deal provided him with startup capital for his real estate empire, Canada, and demonstrated the potential for significant profit in the real estate industry.

How did the speaker's relationship with Eugene Reisman contribute to his success?

Eugene Reisman provided the speaker with opportunities to participate in various real estate deals, allowing him to gain experience and build wealth through equity. This relationship was crucial in establishing the speaker's foothold in the industry.

What was the significance of the speaker's experience with the Student Union building renovation?

The renovation of the Student Union building not only provided the speaker with a significant profit but also taught him the importance of perseverance and the value of direct action, as demonstrated when he called the mayor to expedite the building permit process.

How did the speaker's approach to dealing with difficult situations, such as the steel overage on a project, reflect his character?

The speaker's willingness to cover the steel overage on a project, despite it not being his responsibility, shows his commitment to fairness and his understanding of the importance of maintaining good relationships with business partners.

What role did the speaker's grandfather play in shaping his business philosophy?

The speaker's grandfather instilled in him a strong sense of integrity and the value of leaving money on the table for the sake of maintaining ethical business practices.

How did the speaker's strategy of partnering with different financial institutions benefit his business?

By partnering with various financial institutions, the speaker was able to diversify his deals and match them to the specific interests and requirements of each institution, thus building a robust and resilient business model.

What was the turning point for the speaker in his decision to leave his position with Eugene Reisman and start his own business?

The speaker experienced an anxiety attack, which led him to reassess his career path and ultimately decide to leave Eugene Reisman to pursue his own business ventures.

Can you describe the speaker's philosophy on investing in employees and how it contributed to his company's success?

The speaker believes in investing in employees by giving them a stake in the company's success, creating a sense of family, and fostering a supportive and inclusive work environment. This approach helped to build loyalty, motivation, and a strong team spirit within the company.

What impact has the speaker's involvement in community projects had on his personal and professional life?

The speaker's involvement in community projects, such as fundraising for cancer research, has brought him a sense of fulfillment and purpose beyond his business achievements. It has also enhanced his reputation and the social impact of his company.