Surprising Facts About Being Real Estate Entrepreneur in 2019

Hey, what's up, guys? It's Anthony with SoCal Homes, and we're here to talk about an exceptional topic on how to properly invest in Fix and Flip real estate deals in Southern California. Feel free to ask questions in the comments or follow me on Instagram:   / anthony_soc.  . Learn more about me on https://www.socalhomes.co/about-us/ This channel was created and is supported with the help of our marketing friends at Birchstone Associates, more about them https://thebirchstone.com Hey, what's up guys? It's Anthony with soul cow homes and I'm here today to talk about some interesting things, entrepreneurs gold for the spectrum of being in business. One thing that I've noticed is that now that I have created some wealth, I tend to spend less and that when I had a career clear page check to check and I was spending a lot more. Now why does this occur as a common theme that I see loss entrepreneurs notice when they leave the career life and then take the dive into entrepreneurship and many factors. I've noticed actually that things just tend to happen. One main factor is you're caught doing a lot more things as you're seeing you're networking, you're busy running your business, you're, you know, having meetings with operations, having your team meetings, things like that. Eat up your time and when you're career driven and your nine to five is over with, you have not much after that. Anything else to do in terms of production time and so people tend to spend more, but I've seen is that I spend, wait less now that I'm more wealthier than when I was before now. I was never frugal myself when I, I was lucky enough to have a great paint career, paid $200,000 a year and I live for the moment. I partied a lot. I was younger, this was about 10 years back when I first got started. And so one thing that I was comfortable with was that my paycheck was always secured and that I would always have money in the account. Therefore I would take way more vacations. I would go party a little more and then I would buy more things that I didn't really need. One thing you're gonna notice all the time is that when you're an entrepreneur, you tend to be lean. You tend to be very low on costs, and these are things you start picking up right away as you're going through the spectrum of the years in business, I spend this and have money ready for the rainy day, right? You always want to have a backup plan. You always see friends buying these cool things and you're always like, why can I buy those things? But you always think to yourself, do I really want to buy that $100,000 car or am I fine without it? So therefore I always think my money needs to be safe because that's going to allow me to buy even more real estate properties. When the down market hits, you always got train your markets, right? You don't want to think it's always going to be a bull market all day, every day. And real estate is never going to tank. There's always market corrections and so therefore you're always going to be trying to save as an entrepreneur that money ready to go for when the stuff hits rock bottom. You're there to pick that right up. So these are some things that you've noticed at real estate entrepreneurs or even an entrepreneur in any business, you tend to start stockpiling your cash for that either rainy day or cash reserves or for when you're ready to buy real estate. And onto the last note, one major thing I've noticed as a young entrepreneur, and this is for all millennials alike, is that once you're this busy, you're going to place way less value on social things Hardy and you're gonna place way more value on networking, creating more connections, and doing that wealth gap. And just exploding with us here at [inaudible] homes. We've exploded this past two years and two crazy, crazy, astronomical projects, profits and whatnot. So if you really want to be self aware, you're going to notice this too. You're going to start going to less gatherings, you're going to probably make less friends and make more business connections. But that's what it takes. No one really likes to be in a network event that the guy that doesn't talk. So when you're out there networking, you're going to focus on people that are like you, driven, driven, driven. This is Anthony with salt cow homes over in, out.