Real Estate Investing for Financial Freedom: A Guide with Jason Lee 

July 19

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Real Estate Investing for Financial Freedom is a journey not many dare to embark on.

Truth be told, the path can seem daunting at first glance…

Real Estate Investing for Financial Freedom.

The very phrase brings up images of high-risk deals, complex legal jargon and potentially losing it all. But here’s what separates the casual investor from the financially free entrepreneur. If you don’t understand how to invest wisely in real estate, achieving that dream of financial freedom might remain just that – a dream.

Navigating this world isn’t easy folks.

Ponder over Jason Lee’s experience who once confided about his initial investment property turning into a money pit rather than generating income as he had anticipated…

This setback made him apprehensive about investing again, let alone believing in achieving financial independence through real estate investments.

No surprises there!

Table of Contents:

The Power of Real Estate for Financial Freedom

Imagine achieving financial freedom through real estate investing.

This is not a far-fetched dream, but the reality that Jason Lee experienced firsthand.

Starting out in real estate while still studying

Jason’s journey began as a student, before even graduating college he was one of many first-time investors and on the path to becoming financially independent . He realized, held immense potential to create passive income streams and achieve financial independence.

Determined to start investing early on, Jason dived into the world of rental properties and short-term rentals – juggling his studies with property management duties.

Transitioning from house flipping to generating passive income

In time, he transitioned from being just another house flipper.

To becoming an astute investor focused on owning real estate assets yielding steady cash flow every month, not only achieving financial independence but starting passive income streams through rental properties.

This change did more than boost his monthly expenses coverage; it set him firmly on the path towards becoming financially free. Mortgage payments became less daunting as each investment property started paying for itself over time. And guess what? The stock market volatility didn’t faze him anymore because his investments were well diversified across multiple asset classes like mutual funds and real estate investment trusts (REITs). There’s always more than one way to make money and we will always advise to keep your income diversified to ensure financial stability through in your financial situation.

Achieving Early Retirement: A Reality Not Just For Experienced Investors.

You see, JASON’S STORY ISN’T UNIQUE TO HIM ALONE. It can be your story too if you are willing to embrace the power of starting small yet dreaming big when it comes down to making money via smart investments within today’s dynamic “REAL ESTATE MARKET”. Make money make you more money by Real Estate Investing for Financial Freedom.

With careful planning around interest rates, borrowing money wisely, and having a good insurance policy, you could also become part-owner in some potentially lucrative rental properties or even consider stepping up your game by exploring opportunities within niche markets such as student housing.

So now we ask ourselves, HOW CAN WE LEVERAGE THE POWER OF REAL ESTATE INVESTING FOR FINANCIAL FREEDOM? Let us dive deeper into this topic under our next heading where we will discuss partnering strategies for success in Real Estate Investing.

Key Thought: 

Real Estate Investing for Financial Freedom: A Guide

Unlock financial freedom with real estate investing. Learn from Jason Lee’s journey and gain strategies for successful property investment.

Partnering for Success in Real Estate

The journey to financial freedom through real estate investing often involves more than just owning properties.

Aligning with the appropriate individuals, those who possess similar objectives and principles, is essential to attaining financial freedom through real estate investing.

Importance of Value Alignment When Choosing Partners

In Jason Lee’s experience as a successful real estate investor, he found that value alignment is crucial when choosing partners.

A partnership based on shared principles can expedite progress towards achieving financial independence while also helping avoid potential pitfalls along the way.

Learning from Experienced Investors

Beyond partnerships, another significant aspect of success in real estate lies in learning from experienced investors.

  • This could mean seeking advice on how to start investing effectively,
  • Finding out what makes certain rental properties more lucrative than others,
  • Gaining insights into navigating fluctuating interest rates or property taxes,

These seasoned professionals have likely faced similar challenges you might encounter as first-time investors.

They’ve probably dealt with difficult tenants, had experiences borrowing money for investments and know the importance of having a good insurance policy.

Their wisdom can provide invaluable guidance especially if you’re new to this realm.

Remember though, every investor’s path will be unique due to differing personal circumstances such as their current financial situation or available financing options.

So while it’s beneficial drawing lessons from others’ journeys, it remains essential tailoring these learnings according to your own needs and aspirations.

Balancing Active Business With Wealth Multiplication

For many, the allure of real estate investing is not just about financial freedom. It’s also about creating a balanced lifestyle.

Diversifying Sources Of Income

Achieving financial independence often means diversifying your income streams.

This can include everything from owning rental properties to investing in real estate investment trusts (REITs).

The beauty of this approach? You’re not solely reliant on one source for cash flow.

Owning Real Estate: A Path To Passive Income

Rental properties are an excellent way to generate passive income and achieve financial stability over time. However, it requires due diligence when selecting potential tenants and maintaining property conditions.

Investing In REITs: Dipping Into The Stock Market Without Buying Stocks Directly

In contrast, REITs allow investors to gain exposure to the real estate market without having direct ownership. This method offers liquidity that traditional property investments don’t provide while still reaping benefits like dividend payouts.

Allocating Time Effectively Between Active Work And Investments

To truly maximize wealth multiplication efforts through real estate investments, it’s crucial you balance active business with managing these assets effectively. This ensures consistent growth without sacrificing personal experiences or living expenses.

You may need help from professionals such as accountants, property managers, or even legal advisors depending on your portfolio size and complexity. Remember – it’s all part of achieving that coveted financially independent status.

Navigating between running an active business and multiplying wealth through smart investments isn’t always easy. But mastering this balancing act could be your ticket towards early retirement.

We’ll delve deeper into building discipline consistency next – essential traits every successful investor should cultivate. Stay tuned.

Building Discipline And Consistency For Success In Investing

If you’re a novice in the real estate investment field and want to be successful, maintaining consistency and having self-control is essential.

You might wonder why these traits matter so much for an experienced or aspiring real estate investor. Let’s delve into that.

Dealing with Resistance During Change

In any journey towards financial freedom through owning rental properties, change is inevitable, especially when interest rates fluctuate or potential tenants become scarce.

The stock market may seem more appealing at times than dealing with property managers and mortgage payments but remember your goal: achieving financial independence by creating passive income streams from your investment properties.

Maintaining Energy Levels Amidst Challenges

There will be obstacles like unexpected living expenses or increased property taxes.

  • A good insurance policy could save you during tough times – it’s all part of maintaining positive cash flow even amidst challenges.
  • Saving up for contingencies also helps keep energy levels high as it provides a safety net against unforeseen circumstances.

With persistence, resilience and smart financing options such as borrowing money wisely or considering short-term rentals instead of long term leases; one day soon enough – you’ll find yourself financially free.

Embracing Failure As A Stepping Stone Towards Growth

Rejections are frequently perceived as hindrances in the realm of real estate investing.

But for seasoned investors like Jason Lee, they’re stepping stones towards growth and financial freedom.

Turning Rejections into Motivation

The path to becoming a successful real estate investor is paved with rejections.

Potential tenants may decline your rental properties or financing options might fall through unexpectedly.

Persistence Pays Off – Getting Closer To ‘Yes’ After Every ‘No’

In his journey towards achieving financial independence, he has encountered numerous obstacles.

Yet by staying persistent and not allowing temporary hurdles deter him from owning more real estate investments; he was able to create passive income streams that contribute significantly toward his early retirement.

  • If a potential tenant rejects an offer on one of your investment properties – don’t give up. Look at it as another opportunity for improvement rather than defeat.
  • A failed attempt at securing favorable interest rates shouldn’t discourage you either. Instead use it as fuel to explore other borrowing money avenues or even consider cash purchases if possible.
  • Your first few encounters with property taxes might seem overwhelming but remember: knowledge is power. The more informed you become about these aspects, the better equipped will be handle them effectively moving forward. Realtor provides some great tips here on understanding various costs associated when buying houses including those pesky property tax bills.

Remember: In the realm where mortgage payments, insurance policies (always ensure have good policy.) And monthly living expenses constantly loom large; each setback faced only serves sharpen skills further enabling navigate complex terrains successfully thereby inching closer ultimate goal – Financial Freedom.

FAQs in Relation to Real Estate Investing for Financial Freedom

Can real estate give you financial freedom?

Yes, investing in real estate can provide financial freedom. It generates passive income and appreciates over time, offering both cash flow and capital growth.

How do you build financial freedom in real estate?

To achieve financial freedom through real estate, invest wisely by diversifying your portfolio, partnering with experienced investors, and maintaining discipline for consistent growth.

What are the financial benefits of investing in real estate?

Investing in real estate offers multiple benefits including steady cash flow from rentals, potential property appreciation for long-term wealth creation, tax advantages and portfolio diversification.

Is real estate a good investment in 2023?

The Single-Family market is currently in flux, with many mortgage firms, banks & real estate firms in mixed feelings about the situation. Commercial Real Estate is suffering from the cultural war of working from home but Multi-Family rental units, dependent on the market state especially, remain a strong choice for Real Estate Investing for Financial Freedom. VonFinch Capital is experiencing huge interest in their latest fund, the advantage of economic downturns is deals from distressed buildings and there is deals out there for those with the experience to find them.

Conclusion

  • It’s a journey, an adventure.
  • It starts with understanding the power of real estate as a tool for financial independence.
  • You’ve learned about Jason Lee’s inspiring story and how he used property investment to retire his mother early.
  • We delved into the importance of partnering with like-minded individuals, aligning values and goals for mutual success in this field.
  • The balance between active business pursuits and wealth multiplication through smart investments has been underlined too.
  • You now understand that discipline, consistency, resilience are key traits required on this path towards financial freedom.
  • Acknowledging failure not as an end but rather as stepping stones toward growth is another crucial takeaway from our discussion today.

If you want to get your start Real Estate Investing for Financial Freedom then call VonFinch Capital today
https://www.vonfinch.com/investor-relations/

Real Estate Investing for Financial Freedom: A Guide with Jason Lee  Transcription:

Steven Pesavento [00:00:00]:

I've had good partners. I've had bad partners. I've invested passively in deals that had terrible partners. I've invested passively that have amazing partners. And it really sucks. It just sucks because it's like, this could be so easy. We could make a lot of money. We could have a lot of fun doing it. But when you get out of that values alignment, you end up it just creates so much resistance. Welcome to the name your numbers show presented by the investor mindset we're on a mission to create financial freedom for over a million investors, and I'm excited. I've got Jason Lee in the studio today. How you doing, Jason?

Jason Lee [00:00:36]:

Good, Steven. How about yourself?

Steven Pesavento [00:00:38]:

I'm doing amazing, man. I'm living a great life, and I'm honored to be able to dive into some of your background here today. I think it's going to be really inspiring for folks. Let's start off with what did you name first? What was your first target, your first goal, the first thing that you were going after?

Jason Lee [00:00:56]:

Yeah, the first thing I was going after, actually, was when I was in college. I just wanted to retire my mom because when I was growing up, she had a lot of failed businesses, a lot of struggles raising me. I was a pain in the ass, so I wanted to give back to her, and that was, like, my first big goal that I had in mind when I was younger.

Steven Pesavento [00:01:15]:

So you wanted to retire your mom. Where do you feel like that came from? What gave you that inspiration to think you could even do that?

Jason Lee [00:01:22]:

It's a great question. I think it just came from just me growing up and realizing becoming more empathetic, just, like, seeing how much my family struggled with money and how much I was a burden growing up. So I think I realized that when I went away from home. I'm from the East Bay area, up by San Francisco. But then I moved to San Diego for school. And when I actually moved, I grew so much closer to my parents because I took it for granted when I was younger, being close to family. But I think that's when I really realized and got the inspiration. Like, damn, I was effed up growing up. I got to really do something and give back to my family and kind of pay her back for all she sacrificed for me.

Steven Pesavento [00:02:08]:

Isn't it wild how when you're at home and you're growing up, even if there was a lot of struggles that your parents kind of brought to you, it's like when you get out of the house, all of a sudden you're like, wow, okay, I have a little idea about what you were dealing with. And it's like the relationship changed. I experienced that myself. I feel like as a kid, super rebellious, kind of always arguing, wanting to do my own thing, and then I get out of the house. I kind of, like, run away and start kind of creating my own life, and then I have a new appreciation for kind of what they had to go through to even get me where I am.

Jason Lee [00:02:44]:

No, that's, like, very similar to my situation. Yeah, you definitely take it for granted. And when you grow up, you kind of realize all the stuff they've been dealing with and the struggles they've had, and you kind of see it as you get older and older.

Steven Pesavento [00:02:55]:

So you wanted to retire your mom. How'd you end up going about doing that? Or where are you at along that path?

Jason Lee [00:03:01]:

Yeah, so I'm happy to say that I've been able to do it at this point. I've bought my mom an investment property down here. She lives off the cash flow. I've given her multiple six figures over the last, like, three or four Christmases. So the way I was able to do that was through real estate. I mean, I first started through making commissions as a real estate broker. I sold apartment complexes around San Diego, still do, for investors around Southern California. And then I saved up and started flipping houses, flipping small multifamily, and eventually went into buying bigger multifamily. And then yeah, that's kind of how I did it. The reason why I wanted to get into real estate was because I saw that all my friends at school, all their most successful the most successful families either were in real estate in the business somehow, or own rental properties. So I thought there was something there. And when I ended up kind of interning at my old company and getting into it, I saw how powerful it was. So, yeah, I'm just glad that real estate took me in the direction I wanted to go.

Steven Pesavento [00:04:09]:

Yeah, and I love your story too, because you're a young guy hint at your age for the audience who's not watching.

Jason Lee [00:04:15]:

Yeah, I'm 26.

Steven Pesavento [00:04:16]:

So you're 26 years old. You started doing real estate before you even graduated. Such a cool way to start making money and really learning business, because business is all about sales. It all comes down to, hey, can I find deals? Can I negotiate? Can I try to make some money from the earning side of the equation? And then how do I actually get that money working for me? And you started that really early.

Jason Lee [00:04:38]:

100%. The compounding effect started early for me, for sure, but the first two years were really tough for me. I think when I first started in brokerage, I had less than, like, $400, $500 in my bank account, and it was a no salary, no hourly wage job. They just told me that they had mentor me and teach me their skills, and if I was lucky enough to get a deal, I get paid on it. And the first six, seven months, got no check, no listings. After month six, got my first listing, and then month, like, nine or ten, it actually ended up closing. So the first year, I basically made no money and had, like, two little side jobs, part time gigs while being in school at San Diego State. So the first two years were really tough. But I think those first two years was when I actually made the most amount of money simply because that's when I developed the skills to start making money later in the future. And I think a lot of people in my generation don't understand that because they just think, how much of a salary can I make day one? They don't think about, what skills can I create to make myself more valuable to the marketplace two, three, four or five years from now?

Steven Pesavento [00:05:48]:

Yeah. I always am telling young people when I'm talking to them, don't focus on becoming a millionaire now. Focus on getting really good at something, gaining those skills, that knowledge, that experience. And it's inevitable that you're going to make a lot of money because you started young, so you got that repetition really early. A lot of people just keep trying to go after something only for the money without actually becoming the best at something. And from my perspective, that's what led to my success. I didn't really start full time in real estate until I was 26. I'm 33 now, and when I started, I was in the hole, negative money, didn't have any money to my name. Went 40,000 in debt, in marketing and expenses to build a company where I could go acquire real estate. I started out flipping houses because that was the easiest transactional way to start making money and getting experience. And then people look at where I am at now and where you're at, and they say, oh, man, that's so far. I don't know how you could do it. And the way you do it is you just start. It's true.

Jason Lee [00:06:57]:

It's a fact. Yeah, you just got to start. I think a lot of people struggle with also learning. Learning, but never actually doing doing. They just learn, learn, but they actually never take the first step to actually start climbing the mountain. And I've seen that many times when I work with first time clients looking to buy their first investment property. They're on bigger pockets. They listen to every podcast out there, listen to your podcast, but they never actually buy their first deal.

Steven Pesavento [00:07:23]:

All right, so what's your number now at the point at which you've made it that you don't ever have to work again? What's your number?

Jason Lee [00:07:37]:

I don't have that exact number, but I think if I can make six figures a month in cash flow, I don't see myself wanting to grind ever again. So that's kind of it for me. If I have a lot of passive income, I don't see a point in grinding it out every single day like I do now.

Steven Pesavento [00:07:56]:

So is that 100,000 of passive income or 500,000 of passive income?

Jason Lee [00:08:01]:

Yeah. Like 100 something.

Steven Pesavento [00:08:03]:

Yeah. And when you were first starting, did that even seem achievable?

Jason Lee [00:08:10]:

That is a fantastic question. When I first started, if you would have asked me that question, I probably would have said, like, if I'm making three grand a month in passive income, I'd be stoked. So I think as you grow and as you achieve your goals, as you kind of step up the ladder, your kind of goals get bigger and bigger, and you think of a better and bigger life for yourself. So although that number might sound arrogant, when I first started, my number was like 3000 a month. I'd be happy. So now that I've seen success and I've seen the potential of real estate and that I can get there without, I can scale pretty quickly. And not being able to scale like, real estate in some other industries, I like real estate because you can scale fast. And that's why that number seems pretty achievable within the next five to ten years.

Steven Pesavento [00:09:01]:

Man, it's just such a fun industry to be in, because there's so many people like you and me who are dreamers, who want to go and create something bigger, and it's an industry where you really can do it. I remember for myself, I was in Hawaii, it was 2020. Lockdowns were in effect, and I somehow got onto the island. It was super hard to get on, but we found a way on. And I'm sitting there with this older gentleman, now a great friend, almost like family, and he's probably in his mid fifty s, and he was a builder and had a lot of success and kind of hung it up and retired. He had hit his number, and he asked me this question. He said, hey, Steven, well, what's your number? Obviously you're super driven, you're going after it. Like, at what point is it going to be enough? And it kind of hit me. It kind of hit me because I had a number. I was like, yeah, a million bucks a year in passive income. So if I back into that, that means 10 million of assets that are generating me 8% to 10%, and I'm good and I'm covered. But it really kind of led to, well, how do we actually go about doing that and then what's the point of it? So, for you, I'm curious, what do you really want in your life? What are you going after? And why is it so important to continue to do the effort to building that life?

Jason Lee [00:10:18]:

Yeah, that's a great segue. I think my number, when you ask me, I do have a number in mind where I feel comfortable. But I wouldn't stop after that number because I'm really happy with the way life is going right now. I'm a people person. I'm more about meeting great people and having great conversations and kind of opening doors for myself and for other people. So I've been doing that lately through my company. I have multiple agents, multiple employees working with me and seeing them grow and mentoring younger people that are trying to get into the business. Trying to get their feet wet has been the most fulfilling thing for me. So I know that I can get to my number just by keep doing what I'm doing. But once I get there, I'll probably just do a little less, spend more time with family, start focusing on starting my family, like having kids, stuff like that. But I think there's a lot more to life than just real estate. So I definitely want to have that passive income, but I also want to keep doing real estate, but also have time to travel and experience all the other wonderful things about life, because real estate is a very tiny little sector of life. And I think some people that I know, like my clients, are so obsessed with real estate their entire life that they didn't get to experience all the other amazing things that life has to give.

Steven Pesavento [00:11:41]:

Yeah, it's so true. I mean, people sometimes forget that this is a vehicle. You can get in a lot of different vehicles to drive where you want to go. This one just happens to be pretty nice and you can go pretty fast and has a lot of different options of what you can do with it. But it really comes down to that life that you want to create. And when you get clear on what that's all for, it drives you. But something that you said that I want to point out for the listeners is something that I hear from so many successful people. I feel it myself. It's like once you get into something that you love doing and you're good at, you kind of don't really ever see a point where you're going to stop. You feel that?

Jason Lee [00:12:20]:

Yeah, 100%.

Steven Pesavento [00:12:21]:

You were able to retire your mom, you've built this incredible team of agents. So you've got a business going, you've got your investments. Where are you at today on the path towards hitting that number? Have you made it and how are you tracking that progress towards getting to that six figures a month?

Jason Lee [00:12:40]:

Yeah, right now I'd say I'm about passive income, purely not active income from my business. I'd say passively from properties. It's right around that. It depends on the month, but somewhere in between 20 to 25,000 a month, depending on how the properties operate. So I'm about quarter of the way there, so going to slowly just inch my way up and keep going. But yeah, enjoying the journey, like you said.

Steven Pesavento [00:13:07]:

Yeah. I mean, that's such an incredible place to be. And how did you end up going about doing that? Obviously, you built the skill of being a realtor, being able to go out and find properties and get access to them. How did you actually go about becoming an investor, taking that money that you earned in your career and starting to apply it to assets that would continue to pay you now and forever.

Jason Lee [00:13:31]:

Yeah. One of the best things one of my investors ever told me was he quoted that you become wealthy from the things that you own, not from the things that you do. And when he said that, it struck me like a lightning bolt because I realized that I was just kind of in the rat race, just kind of finding the next commission, doing doing spending 1214 hours a day trying to put deals together. But I was also, at the time, spending a good amount of money and not saving enough and not focusing on buying properties. So as soon as I heard that, when I was beginning my career and kind of starting to kind of rise up and do more deals, I really focused on learning the skill of underwriting properties, analyzing what a good deal is versus what a bad deal is. Bought my first property as soon as possible and bought it completely by myself. Made all the mistakes in the world, hired the wrong contractor, got the wrong loan on it, still made great money on it, but made all the mistakes. And the way I scaled my portfolio fairly quickly is we actually didn't raise any capital from investors in the beginning. My partner and I, we found really good properties to purchase, but we partnered 50 50, and we got very high leverage on really good deals where our equity multiple on the money we put in was super high. Because leverage is a double edged sword, right. The higher the leverage, the higher your equity multiple can be. But higher the leverage, the higher the risk. But if you're buying things that are below market value, the risk goes down significantly. So that was how we were able to scale our portfolio fairly quickly.

Steven Pesavento [00:15:09]:

So from an investment strategy, it sounds like you were flipping or were you doing kind of a renovate to hold type strategy?

Jason Lee [00:15:18]:

Yeah, so it was half and half. So some were renovate hold and refinance and pull our capital out, and then some were hold for one to two years, sell, and then do a 1031 exchange, tax deferred exchange into a larger asset. So we never cash out. We always want to keep our money rolling forward tax deferred. So, yeah, we haven't cashed out on any properties.

Steven Pesavento [00:15:42]:

Yeah, 1031. It's such a powerful tool. So when you were going in and actually flipping those houses, you'd hold them for long enough and then you'd 1031 into the next deal.

Jason Lee [00:15:54]:

Exactly. Yes.

Steven Pesavento [00:15:55]:

And when it comes to your split of your time, right, you've got an active business, you're a real estate agent, you're creating some great content. You're teaching people about how to think like an investor. Something that I'm a big fan of with the investor mindset. But on the other side you're also an investor. So how do you split your time between the things that you're doing to make and earn money versus the things that you're doing to multiply your money and grow your wealth?

Jason Lee [00:16:23]:

Yeah, I think it's tough to measure, but I'd say I spend time every single day on both sides of the business. So I'd say it's somewhere around 50 50, some days more than others on one side versus the other. But I'm still fairly active in growing both sides of the business, the investment side and the brokerage side. So I'm definitely active in it every single day on both sides.

Steven Pesavento [00:16:47]:

And do you feel like one is a higher priority at this point in your life than the other?

Jason Lee [00:16:54]:

I've never been asked that before. I think priority wise, I think they're equal in different ways. I think priority for being able to become more and more financially free as I go more and more wealthy. The investment side has much more benefits. But the brokerage side, my business side, has other priorities because like I said before, I prioritize people and if people are taking a chance on my company and working with me, I want to make sure that they succeed. So I do a lot of managing, training, hiring, redeveloping systems, trying to market as much as I can and give leads to my agents. So I'd say both are a priority, just in different ways.

Steven Pesavento [00:17:40]:

Yeah. And it's such a hard question to answer because I've had that same question asked to me. And obviously in the business we run a private equity company, we buy large multifamily in Denver and around the country. And then, you know, an education company where we're teaching people how to think like an investor and invest in those same type of deals. And when somebody asks the question, hey, well, what's your priority? If you have two priorities, you have no priorities. And it's so hard to answer because it's like, no, but the education is so important because it's like literally changing the way people think so they can actually go and do the things that's going to change their life. But yet the private equity company is the place where we earn the most wealth. It's your equivalent of the investments that you're doing. And so it's always hard to be able to balance that. Yet in your business, I would imagine that the brokerage business is quite profitable. You're out there making great commission, you're earning immediate money. The ability to make that money and earn it allows you to then have money to then go invest and begin that process of multiplying. And when done correctly, your brokers should be able to sell just as many properties as you. And you can get that Vig, that percentage on top and in the end you'll earn more money there, but then you'll be able to reduce taxes and do a lot of other stuff on the investing side, exactly.

Jason Lee [00:19:09]:

Yeah. Very well said. How's your education business? Is that one pretty profitable too?

Steven Pesavento [00:19:14]:

It's profitable. It's a lot of fun. I haven't invested as much time building that as I have building the private equity company. But the people that I've been able to work with over the years, it's so fulfilling. I can imagine when you're putting out content and you get the comments back and people talk about referencing you as somebody that was able to make a change in their life, personally, that feels good. It feels good to be able to give back and know that all these years spent learning things I'm able to pass along to other people. I make way more money in the private equity business, but the training business doesn't do too bad.

Jason Lee [00:19:53]:

Amazing.

Steven Pesavento [00:19:54]:

It's good stuff when you're looking you're young, but you've obviously tried a lot of things in a short amount of time. You've had some good success. We've been on a great bull run since we've both gotten into the real estate game. Talk to us a little bit about what hasn't worked in the past when it comes to making and multiplying money.

Jason Lee [00:20:13]:

I think what hasn't worked was partnering with people that I didn't fully align with. So I think the only deal where I partnered with one person that I wasn't too familiar with just didn't work out well. We both got on each other's nerves. We both kind of saw things differently, got in arguments, and even though we did okay on the deal, I thought we lost because it just took a lot of mental bandwidth out of my day. So that was something that took up a lot of my time and a lot of my energy. So that was one what happened with.

Steven Pesavento [00:20:50]:

That deal that made it stressful.

Jason Lee [00:20:52]:

Yeah. So it was a big renovation project. We were going to add two units and renovate the existing four units, all three bedrooms.

Steven Pesavento [00:21:01]:

So a development deal.

Jason Lee [00:21:04]:

The contractor that he chose just did not work out. He was like six months behind on everything. It was a nightmare to work with them. And nothing was done properly. No one was listening to me. So I would put in my input, I would try to change things, I would try to do things differently because things weren't working, but they on the other side were not receiving it. So I think a lack of good communication, a lack of trying to help each other out was bad. I mean, obviously I had some faults too, but I think that when both partners don't want to listen, it becomes a very big issue.

Steven Pesavento [00:21:43]:

Yeah, it's so true. I mean, partnership, good partners, I've had bad partners. I've invested passively in deals that had terrible partners. I've invested passively that have amazing partners. And it really sucks. It just sucks because it's like, this could be so easy. We could make a lot of money. We could have a lot of fun doing it. But when you get out of that values alignment, it just creates so much resistance. So I'm curious, what advice would you have to people who are looking to move into real estate? Your strategy is very active. You're going to kind of be the person and maybe go find the deal, manage it and really create that value. You've got that business set up. What would you recommend to those people and what would you recommend to the people who they're making a lot of money and they don't really have time or interest to go down that path to do that?

Jason Lee [00:22:34]:

Yeah, so if you're just starting in real estate and you have all the time but no money, I think the best way to get your feet wet is to learn some sort of skill in real estate that adds value to a future partner. So whether you're on the debt side, the equity side, finding properties, raising money, whatever it is, operating properties, whatever it is, find a niche in real estate that'll add value to a partner. Construction is a big side too. Everyone struggles with construction. So if you're a master at construction, you got a great company. It's a great way to add value to a partner. So that's number one. And then two, I'd recommend not doing it on your own. If you're just starting, I'd highly recommend working with someone who's more experienced than you, because they've done deals you haven't. They know what it's like to get a deal from start to finish. And when you've never experienced that before and you go through that journey alone, like I did, you'll go through a lot of mistakes, a lot of problems, a lot of hurdles. And partnering with right people is the fastest way to fast track your success. And then for the person that's in a different scenario, that has a lot of capital, doesn't have time, you got to invest the people that have time. So you got to invest people that are in the business every single day, that are finding deals, that are operating the properties, that are in the business every single day. Because if you can't be in the business every single day, someone else needs to be. Because real estate is never fully passive. You got to have an operations, you got to have systems. So you got to have people that are actually running the day to day and asset managing the properties.

Steven Pesavento [00:24:16]:

Yeah, I think it's really good advice because oftentimes people kind of get hoodwinked into thinking that real estate is all passive income and the truth is, it can create massive amounts of wealth. But usually real estate is pretty active. Somebody's got to be pulling the strings and following up with the manager and the contractors and making sure all those things happen. Because if you don't, things don't work out, contractors don't show up, property managers don't make great decisions. They spend money they don't need to because they just don't have good alignment of interest. And so when you're that partner, when you're the person who's making those individual decisions, or you've got a great partner who has that experience, who's out there in the field, and they're aligned with you because they're going to make money only when you make money. That's how you know you're actually going to be protected.

Jason Lee [00:25:04]:

Exactly.

Steven Pesavento [00:25:05]:

And so you've grown a lot within a very short amount of time. What do you think was it that really was one or two of those big catalysts that allowed you to be able to step from I'm 18 to 20 years old, I don't know jack about real estate into being somebody who's a skilled professional and has had a lot of success.

Jason Lee [00:25:32]:

Yeah, one or two things that first come to mind. I think number one is just consistency and discipline. I think a lot of people that want to get into real estate are highly motivated, that want to achieve big things. But motivation is very temporary. So motivation comes and goes, but discipline and consistency is something that you practice every single day, no matter how you feel that day. And my mentor told me that early and often, and that was one of the best things he's ever instilled into my mindset. So I think running off of discipline, knowing that I have to make these calls, talk to these people, meet with this many people a week, having those key performance indicators and hitting them no matter what, with consistency, even. Though I don't feel motivated or I felt down on myself, which I did several days or several months when I didn't make any money. So that was number one. And then I think the second thing was investing my time in the right people. So I think investing a lot of my time with clients that I knew were going to consistently buy over and over again and sell over and over again and really fostering those relationships, because it's tough to say, but it's the truth. Some relationships are going to benefit you a lot more than others. Like, for example, as you grow older, we kind of grow with new friends. I can't relate to my childhood friends much at all because I'm on a way different path than them. So as you get older, your friends change, your relationships change. And as you go on with life, some relationships benefit you more than others. So invest time in relationships that are going to it's going to be a give and take relationship, not just a give give.

Steven Pesavento [00:27:20]:

Yeah, well, I feel you on that. I've gone through that path myself, but I hear it from a lot of people. And it's like as you're on that path of change, you're going to start having people around. You have a lot of resistance to what you're doing. And they mean well. They're like, hey, don't go do real. Estate that's super risky, or why don't you come out and have fun and do these things? You need to enjoy yourself. You're 26, you're 30. Like, life's about having fun. It's not all about work. And then you have to look at them and know that they love you and they care about you, and most of the time, they want what's best for you. But you also have to recognize, are they living the life that I want to live? Are they earning the kind of income that I want to learn or earn? Are they doing the things that are important to me? And if they're not, you have to just smile and pretty much ignore any of their advice.

Jason Lee [00:28:15]:

Yeah. And it's a tough thing to do when they've been your close people, close friends, growing up, even your family. My parents didn't want me to go into real estate. They thought it was super risky. They thought I was making a huge mistake, that I was going to lose all my time and money or whatever. A lot of people that tell you that stuff, they project their own insecurities and fears on you, so they think real estate is scary, so of course they're going to tell you that it's a bad idea and that it's scary. So, yeah, I've learned the hard way to only listen to people that I've already done what I want to do and become.

Steven Pesavento [00:28:51]:

And discipline is such a hard thing, but yet it's the most important thing. I found that places in my life, I can be extremely disciplined. I'm not going to eat that, I'm not going to drink that, I'm not going to do this, I'm not going to do that. And then it's easy to kind of get caught up in a little pattern or a habit where you're maybe watching too much TV, you're staying up too late, you're not taking care of yourself. What have you done, Jason, to be able to build that discipline?

Jason Lee [00:29:16]:

Just so you know, I'm not perfect either. I know a lot of people come on podcasts and they say, I'm perfect, I'm disciplined. I wake up at 05:00 A.m. Every morning. I meditate, I journal. I do all this stuff no matter what. I have my bad days where I don't do any of that. I have my good days where I do all that. So before I say anything, I just want to say that I am not perfect. I'm not fully disciplined. I'm not a monk. But what's really helped me is trying to just wake up with some sort of purpose in my head when I go to bed at night, and I know that I'm going to try to accomplish just one or two things that are really on my mind. I get much more motivated to get up in the morning, but when I go to bed with no plan or no target to hit the next day, I kind of gradually get out of bed slowly and have no motivation. So I think having that target every single day when you wake up, what you're going to do, what you're going to accomplish, whether it's a fun thing or whether it's a hard thing or something that you need to do to grow your business, it's really helped me kind of propel myself and get going in the day faster.

Steven Pesavento [00:30:20]:

Yeah, man, I couldn't agree more. I am anything but perfect, but I'm a recovering perfectionist, so I want to do everything right. I want to get it exactly perfect. But there's nothing worse than trying to be perfect when you're trying to build a new habit, because you're going to meditate seven days, ten days, 20 days in a row, and you're going to miss one day. And if you start beating yourself up, then you're going to lose that energy that you actually need to go and do the things you need to do. So it's such a good reminder because oftentimes people look at social media and they think everyone's got their best face on, but we're just people. We just are people who've been on the path. We figured out some things, we screwed up other things, and we're just looking to share the things that we know with others who want to do it.

Jason Lee [00:31:08]:

Yeah, exactly. No one's perfect. Social media is a tough thing because everyone's got their perfect game face on, but you never really know what happens behind closed doors and they're never going to show that, or at least most people don't. So, yeah, it makes you really Insecure.

Steven Pesavento [00:31:27]:

Yeah, it can absolutely make you Insecure. But from my perspective, Jason, you're doing some amazing things. I think people should follow you so they can keep learning. From your experience, where should people be able to follow you or get in touch?

Jason Lee [00:31:42]:

Yeah, I'm most active on Instagram and YouTube, and it's the same username. It's just my full name, jason Joseph Lee. My first and last name are too common to find me, so it's my full name.

Steven Pesavento [00:31:53]:

Yeah. What I love to see from you, Jason, is that one, you're disciplined. Two, you're taking action. Three, you named your number without even really recognizing it. You have that goal, you've got the purpose behind it, and you're learning and taking that action to be able to move forward. And that's what everyone needs to do. So anyone who's listening to this, jason's a great example if you want to go in that active route. If you're a real estate agent, he's done it before and you can learn a lot from him. And even if he's not doing exactly what you want to do, some of these same principles apply. So as we wrap up, Jason, what advice would you want to share to folks who are on that path towards creating financial independence for themselves?

Jason Lee [00:32:34]:

Yeah, I mean, the last thing I want to leave with is we kind of touched on it earlier. But don't be afraid to fail early and often. I think so many people are afraid to get their ego bruised, get rejected, and lose in business, or people are too afraid to take risks. And taking calculated risks and not taking any rejections personally are probably the two most driving factors for my success besides the two that I mentioned earlier. You have to take a risk because if you don't take a risk, you're going to be in the same place your whole life, and you're never going to grow and move forward, because the most growth in our lives happen when we are in our most uncomfortable states. And if you're afraid to fail, if you're afraid to be uncomfortable, you're never going to grow. And with the rejection part, I got rejected like 150 times a week telling me to lose their number, never call them again. I'm not selling, I'm not buying. And it took about four to five months to get my first lead. So it's crazy thinking back on that. Wow, I'm surprised I made it through those days. But even if you're getting rejected early and often, whether you're an agent, whether you're some sort of salesperson real estate investor, just know that every single no is closer to a yes. And yeah, just keep going, man.

Steven Pesavento [00:34:00]:

Such good advice. Thanks for tuning in, Jason. Thanks for joining us, and we'll see you on the next episode. Thank you for listening to the Investor Mindset podcast cast. If you like what you heard, make sure to rate review, subscribe, and share with a friend. Head over to theinvestormindset.com to join the Insider Club, where we share tools and strategies from the top investors and entrepreneurs on how to take it to the next level.



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