This is a continuation of “The Great Escape” audio podcast reality show with Eric Thiele. Eric has been given assignments each week to help him get his wholesaling business started. In this episode, Eric catches us up on the challenges he has faced and the successes he has achieved over the last few months.
Sean: So, let’s say Eric wants to generate $20,000 a month in revenue. There’s a defined plan. How many properties do you have to have, whether it be multi-unit, or how much cash flow do you have to have in units to be able to get to that point, which is highly achievable in a five year time frame, to be able to accomplish that? That’s an awesome goal.
Now you’ve got $20,000 a month coming in whether you wake out of bed or not. Then you can go fly your plane. Right?
Eric: Absolutely. I know which one I want. I hope they have that letter that you made me write several months back. I’m working towards that. And, if you don’t mind, I want to point out two other things, in terms of helpful words to people listening. One thing is I think it’s totally human nature that when you’re looking at doing something new and different, making a change in your life, you tend to blab about it to your circle of friends and family. I have discovered, at least in my circle, we love each other, we have a good time together, but guess what? I sort of feel that your peers don’t really want you to succeed too much because then you’ll be out of their league. So feedback that I’ve gotten from people is a lot of doubting reactions. “Be careful. Don’t get burned. Watch out.” So, I’ve learned to keep my mouth shut because it’s tough enough motivating yourself to get going and do this. Why add even more drag to the process by having everybody know what you’re up to and giving you a bad time about it. You don’t need it. It’s tough enough to be successful in business, why add that load to what you’re trying to do?
And the other thing, a good friend of mine back in Chicago, two months ago he calls me up, “Hey Eric, you should get into real estate. There’s all this money to be had.” He’s been listening to somebody else, not Sean’s program. He was all fired up about it, but he’s very rigid. Tony, this other guru, has this method and you should follow steps one through ten and that is the only way to go. And that’s not it. You’ve got to be flexible. Look at what’s going on and what your situation is. If you’re expecting orange and it’s blue, well what do you do with blue? How can you make money off of blue? That’s being able to shift your direction and respond to what’s going on, for me, and still learning how to do that, how to be faster on my feet and thinking of options. I bet a year or two from now, I’m going to be one savvy investor.
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