16 Jul Brant Phillips Show 42: How To Make A Million Dollars
Welcome my friends to the Brant Phillips show, the show, you know what’s up. The show that is dedicated to results. So, what are we going to talk about today that’s going to help you create results? Today we’re talking about how to make a million dollars in real estate, but more importantly, more importantly what we’re talking about today is not about the how, the how do you do things in real estate, like the steps, or anything like that. We’re asking a much more important question that you’re going to have to answer if you’re ever going to be able to create the life and the business that you dream about. And that question that you’re going to have to ask yourself is this, “Who do I need to become?”
Let’s not even talk about the what’s, and the how’s, and the why’s right now, let’s talk about who you need to become to do this. So, why are we even talking about this in a podcast? For those of you who are in the Houston area, you know that we have a monthly networking event. We come out, invite a lot of people out. We have food, and drinks, and that kind of stuff. We have a lot of fun, we have some education. So, I’m preparing a presentation that’s called how to make a million dollars in real estate. Because you know, so many people get into this business, into the investing business, or just being an entrepreneur. You want to make money, you want to become a millionaire, I get it that’s part of one of the dreams that I had when I got started.
What I’ve discovered along my path and along my journey is that it’s been a journey of, who do I need to become in order to accomplish the goals and the things that I set out to achieve, that I’ve achieved? Who do I need to become in order to just show up every day and do the work? Who do I need to become to not give up when things get difficult? Who do I need to become in order to lead teams, and build a company, and build these organizations, and these different divisions that we have? Who is it that I need to become in order to build these investments and these companies that make the money that I desire?
And so, I’m going to tell you this. I’m going to tell you this, and this is a very powerful statement. I hate to be too cliché with some of the things that I share in this podcast, but sometimes that’s just what we have to say, and it’s just the truth. We talk about the importance of your why, what is driving you, why are you feeling. Why are you driven to accomplish certain goals? I’m going to tell you this. If your why is big enough the how will become small. If your why is big enough the how will become small. I see too many people come into this business and they really don’t have a strong why.
Whatever is motivating them isn’t big enough to overcome the obstacles that they’re going to face, because as entrepreneurs, as real estate investors we are surely going to face obstacles. Hurdles, set backs, shifts in the market, all of these types of things. There’s going to be turbulence. There’s going to be problems that we have to deal with, and if your why isn’t bigger and greater than those obstacles, those obstacles are going to win each and every time. You essentially have to put your why on the scale. What is driving you? Why are you going to do this?
On the other side of the scale is going to be all the problems, all the challenges, all of the stuff, all of the set backs that you’re going to face. If all of those things, and they could be substantial, they can be absolutely overwhelming at times, if they outweigh your why you are done. Your why has to be bigger. When your why is bigger, my friend, you will figure out the how’s.
The how to do real estate, the how to start in business. The how to stuff, you can find that anywhere quite frankly. We live in the information age. The how to become a real estate investor, the how to flip a house, the how to become a landlord, the how to raise private money books are out there. You can Google this stuff for free.
They’re on podcasts, they’re on bigger pockets, they’re on Amazon. And most of it’s free, or extremely cheap to figure out the how to kind of stuff, but without that why, without a clear and definitive why not only will you give up when things get tough, because you will, but you’ll drift and you’ll wander aimlessly. You’ll go to different events, and seminars, and boot camps, and podcasts, and webinars chasing idea, after idea, after idea. And my friend, you will waste years and possibly decades of your life because you can’t answer one simple question, which is what in the hell do you want? What do you want?
My friend, I want you to strongly consider that clarity is absolutely power, and I need you to have an urgency to find your clarity. The importance of you having clarity is so paramount right now because if you don’t know what it is that you want, then my friend, how are you ever going to truly begin creating results? You’re simply going to be bouncing around from idea to idea chasing a squirrel. Here’s a squirrel, there’s a squirrel, everywhere a squirrel, squirrel. And here you go down this rabbit hole, and the next rabbit hole. You wake up, and you look up into the mirror, or look at the mirror, in a year, two years, five years, 10 years from now, and you’re in the same place that you started from.
Maybe still at the same job, maybe in the same financial position. You may be exactly where you stated from because you didn’t take a little bit of time and just answer a very simple question, which is, what you do you want? Begin to get clarity around that, and begin to really solidify your why, and then, just begin to set goals. Set goals, get the edge, get that eye of the tiger whatever it takes. I remember whenever I first started in real estate, just began in real estate, many of you’ve heard this story. My wife and I, we had no money. We were living in an apartment. I had no business or real estate experience at all.
We had no money but I had this dream to become a real estate investor. I set a goal, I just set a goal. I told my wife, “I’m going to buy 10 rental properties this year,” and I really had no clue how I was going to make that happen. I went to the grocery store and bought a poster board. I drew 10 squares in it with a black magic marker. I drew 10 squares and I told her, “Every time I buy a house I’m going to write the name of the house at the top. I’m going to fill in the square just to acknowledge that I accomplished buying a house, and one step closer to my goal. At the end of the year I’m going to have this big ugly poster board filled out with 10 freaking black squares filled in.” I hung it on the wall in our apartment. I used a credit card, I used a credit card to buy, to borrow against to buy that first house. Exactly 12 months later, just …
Hey, this is Brant. I hope you’re enjoying today’s show. If you’re at a place in your life, your business, where you just feel stuck, or you just don’t know what actions to take to help you get unstuck, or onto the path to creating the results you truly desire, please take a few minutes and go to my website, Brantphillips.com. There’s some really valuable resources and information that may be able to help you out. If you’re interested in really speeding up results with the help of a coach and mentor, and adding true accountability and guidance to your life and business, please reach out to me from my website as well, at Brantphillips.com, or going directly to www.brantphillips.com/coaching. Now let’s get back to the show.
A hair, a smidgen under 12 months I had finished buying 12 houses, my first year. I started out living in that apartment with no money, nothing but a dream, but I had a big why guys. I had a really big why, and the why meant more to me than anything in the world. My question to you is, what is your why? What is your why, because a lot of you have million dollar dreams. You’ve got dreams on becoming a millionaire, and if you’re like me it probably has very little to do with the money, but it has more so to do with what the money can create for you, and for your loved ones, and for others.
For me it was all about time and time freedom. First and foremost I wanted my time back, I wanted my freedom back. I wanted to do the things that I wanted to do when I wanted to do them, but I really just wanted to control my freedom and how I spent my days. I wanted to be my own boss, and I wanted to call my own shots. So, my friends, without your why, without something to drive you, then your million dollar dream, your million dollar goal is nothing but a dream, and it’s never going to do that. It’s never going to help you accomplish what is it you want to accomplish unless you’re backing it with some other things. And yes, you still have to know the how to’s, but they’re out there.
You guys know that I have a coaching program and it’s built on seven fundamentals of real estate. Teaching real estate investors how to create deal flow, how to analyze deals, how to estimate repairs, how to raise private money, manage rehabs, and build a business with multiple exit strategies and multiple income strategies. But none of that’s going to matter, none of that’s going to matter if you don’t have the why, what it is that, why you’re going to do this work. Why you’re going to show up each and every day, and why you’re not going to give up whenever you have a setback, or some obstacle, or some challenge.
My friend, here’s the deal. Bet on yourself, just bet on yourself. For those of you who want to make it big, maybe you don’t even want to make it big, you just want to create a little bit better, a little bit more for yourself and for your family life. Maybe you’re happy with your job and where you’re at, and your life direction. Maybe you don’t have enough for retirement, or maybe you just haven’t created exactly everything that you want. My friend, just get clear on that. Get clear on what it is that you want, begin to set goals, establish that why, and just build your plan and execute it.
Go out and execute. Bet on yourself and just know that it’s okay to fail, and it’s okay to fall down, it’s just not okay to stay down. Keep your eye on the prize, keep your eye on your why, and just grind my friend. Grind, and grind, and grind. Keep on driving and keep on grinding until you reach your goal, and when you look up, when you look up you have no idea where you’re going to be. You have no idea where you’re going to be, and what you’re going to accomplish if you just choose to fall in love with this work, and this process of building your legacy, your life, your business, your family. Just fall in love with the process.
My friend, if you fall in love with the process, and you fall in love with this work, and you fall in love with life and the life that you’re creating, a couple of things. Life is just going to fly by, it’s going to fly by. When you wake up in the morning you’re going to be excited about what it is that you get to do, not have to do, because you’re pursuing your dream, you’re pursuing your why. When you look up, my friend, my friend, when you look in the mirror, win, lose or draw, I think you’re going to find when you look into your own eyes you’re happy with the person that you are and who you’ve become, and who you’re becoming.
I’m going to close this out like this, and I don’t want to sound like I’m bragging. It’s never my goal to try to impress anybody, because anything that I’ve accomplished is a speck compared to many, many, many hundreds of thousands of other entrepreneurs that are walking the earth now, and that have gone before me. But I do feel called to motivate you guys. Motivate, educate, inspire and equip, and one of the ways that I do that is to share my story.
I’m looking at where I am now and I’m, been working on this presentation for our networking event that we have every month. One of the things I’m doing, I’m sewing a spreadsheet of all the deals that we’ve closed in the last 12 months. It’s close to $3 million of real estate, and equity, and net that we’ve made in the last year as a company.
As I look at the spreadsheet, and I put this together, I look at what our real estate business is. We’ve got multiple companies with seven figure valuations now. This happened in just a little over 10 years guys, because simply, I made a choice that you guys can make today. That you, you my friend listening can make today, which is just the fall in love with the work. Fall in love with the process, establish your why. Figure out what it is that you’re going to do, and just go out there and take action. Go out there and take action.
Well my friends, this has been a pleasure and a joy to share with you. I hope it’s motivated, and inspired, and equipped you to go out and take action, and begin creating the results that you desire in your life and in your business.