Making Money in Multifamily Real Estate Show

161 | Decisions That Align With Your Goals with Steve Pesavento

September 22, 2021 Dave Morgia Season 1
Making Money in Multifamily Real Estate Show
161 | Decisions That Align With Your Goals with Steve Pesavento
Show Notes Transcript Chapter Markers

Steve's Background:

  • Steve is the managing partner of Von Finch Capital
  • He has raised eight figures worth of capital for a bunch of commercial real estate deals
  • He has prior experience flipped over 200 houses
  • He is also the host of the Investor Mindset Podcast

In this episode we cover:

  •  03:07 - Where Steve found success
  •  06:18 - Skills that every successful investor has
  •  13:05 - Identifying challenges as opportunities
  •  16:14 - The decision making process
  •  27:06 - Masterminds with the most value
  •  29:55 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
  •  30:34 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
  •  31:12 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
  •  31:53 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
  •  32:55 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?

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Intro:

Welcome to the Making Money in Multifamily Show, where we discuss everything to do with multifamily real estate investing. We believe it's the best way to gain financial freedom and build lasting wealth. This is where you'll find it the best information and practices to help you succeed in your real estate business, whether you're already experienced or just starting out. Here's your host, Dave Morgia.

Dave:

Hello, listener and welcome to the show. I'm your host, Dave Morgia. And with me today is Steven Pesavento. Stephen, welcome to the show.

Steven:

I'm super excited to be here. Thanks for having.

Dave:

Yeah, I really look at a kick that's one off Stephen. And just for the listener, wanting to fill him in a little bit more about you. Stephen is the managing partner of bond Finch capital. He has raised eight figures worth of capital for a bunch of commercial real estate deals. He and his prior experience flipped over 200 houses. Uh, that was in three years, which is a hugely impressive timeline. He is also the host, the investor mindset podcast, a ton ton more I could dig into Steven, but I'll let you take it from there. You want to tell us a little bit more about who you are and what you post.

Steven:

Yeah, absolutely. So I'm the host of the investor mindset podcast. Um, if you guys end up liking what we're talking about here today, I definitely encourage you to click over to that and a managing principal and partner at Von Finch capital. And what we really do is we go out and find great passive investing opportunities. We put those deals together and we bring our investors into those opportunities. So you can really start benefiting from all the things that real estate has to offer. Being hands-on. And what that really looks like for us today is we're focused on going out and finding great multi-family properties and growing, you know, Metro areas from Denver to Dallas, to Jacksonville, uh, to Phoenix, to a few other cities in between. Um, and, uh, we love working with. Clients that are excited about changing their life. You know, one of the big passions, the things that I really care a lot about is personal growth and this whole idea of mindset. And, you know, to me, mindset is simply the thoughts and beliefs that we have that end up leading to the actions that we take and therefore the outcomes we experience. And what's cool about that is if we change those beliefs, if we change those underlying thoughts, we can actually start to see different actions. In our life and experiencing it solely different world. And so for a lot of our clients, that's introducing them to the world of passive investing for some of my private, uh, high-performance coaching clients. That's working directly with them to make big changes in their career or in their business. Uh, but that's a little bit about what we're up to today. Uh, happy to talk about where we started or go wherever. Yeah. I

Dave:

mean, I think you guys are hitting a really good, um, velocity. I won't call it, um, you know, a starting velocity, cause you've really been doing this for awhile now, but a lot of a good volume of transactions. We just talked before the show, you're looking at one right now. Um, so it really commend you for that work. And we kind of were alluding to, you know, success and what it takes to be successful, um, as an investor and what you should be looking for in an active sponsor and what. Yeah, we'll be doing if you are an active sponsor. So do we just want to kind of dig at that for a moment and kind of just give me your 2 cents on really where you found success?

Steven:

Yeah, I mean, to me, it's success really comes down to getting extremely clear on what you want and why you want it. And when you can get clear on what you want and why you want, all of a sudden, you can really start to actually build a plan to get you there. And it's so simple. We all know about it. We all hear about. It's something that is brought up quite often, but frankly, uh, I know that it's true that most of you guys that are listening, aren't doing it at the highest level, because even some of my highest clients, even myself, I'm not always doing it the highest level. There's always another level that we can push things to. When operating from that place of clarity, when operating from that place of focus, we're able to accomplish some amazing things. And, you know, these are some lessons that I've really learned from studying, you know, hundreds of successful entrepreneurs, successful investors, great thought leaders, people that are had on the show, people that I've studied, um, and people that I've been mentored from afar. Um, but they all have. Five different key principles that are in common. And, uh, you know, at the end of the day, once we understand, uh, what other successful people are doing, how they're thinking, we can actually start applying those same thoughts and beliefs in our own life and start to experience the same outcomes. And that doesn't mean that it's going to be easy. And that doesn't mean that it isn't full of challenges. And that doesn't mean I'm, I'm not right along the path with all of you guys who are listening, you know, dealing with those challenges. But what it does mean is that we can look towards others. We can model them, we can start to apply the lessons from their success, and we can start to see some of that same success ourselves. And I've definitely experienced that. I mean, our company grew very quickly. Uh, originally started out with my career in management consulting. I had flipped about 200 houses after I got into real estate, but going all the way back to the beginning, you know, I wanted to be one of two things growing up. I either wanted to be a chef like Emeril, Lagasse, or I wanted to renovate houses like Bob Vila. And, uh, after a career in management consulting, W I realized I was making all the money. I had the title. I had that feeling of success, uh, at a, at a level that wasn't connected to my heart, that wasn't connected to something deeper. And I started looking around, I started going on this journey to see if I could find. Passionate work, fulfilling work. If I could find that bridge between money and freedom, um, and real estate was always one of those things that came up, but there was a lot of things that held me back. But when I finally made that decision to go all in, I'll tell you what, that, all that HGTV I watched growing up finally paid off because we were able to scale up our company very well. But it's even in that process that we learned a lot, we realized, you know, Hey, 200 flips later, uh, maybe we're in a business that we don't want to run for the next 10 years. So maybe it's time to start making a change. And that's what really brought us to the cashflow focus, multifamily world. And you know, how we can really benefit investors, you know, across, uh, across the nation.

Dave:

Yeah. And I'm sure there's a whole entire different show on the wine, down to the single family business or the sale, whatever. But we'll, we'll stick to, you know, the, the mental fortitude, the, I think you mentioned, what was it, how the successful investors and business persons think. And I think that's the huge asterisk here. It's not the, what they do. Cause I think most things are teachable, right? It's the, how they think. And that's the learned skill that really kind of moves, moves the needle. So can we just pick it that where you learn that. And you mentioned what it was, uh, your five skills across, uh, hundreds of investors similar to me, right? It's it's you find these commonalities between all these highly successful people. So, so what is it to you?

Steven:

I think, well, first off let's define the problem. Here's the problem. Most people are experiencing at some point of their life and it's that they want to create a life that is full of freedom, freedom of time. Freedom of. Experience freedom of relationship, freedom to go and do the things they want with the people they want, but they lack the experience about how to go make that money, not the skill necessary, but, uh, they lack that experience of actually doing it. The belief that they can do it, they, they don't have the expertise they don't have. The strategy is, um, they lack the belief. They lack the connection with other people who are doing it. And so this is where a lot of people start from. They start from a design. To make a change happen to go after something that's bigger than themselves, but they ended up getting caught up in those beliefs, in the questioning of whether it's actually possible for them individually to do it. But here's the positive thing is that when you can get yourself around other people that are succeeding, you can listen to podcasts like this, like the investor mindset. You can hear their stories. You can start to take on their belief. You can start to borrow their belief. I often say you can borrow their belief by seeing that they're doing it and start to believe that you can do it. And then once you actually start experiencing it, that's when the magic really happens. And for some things and flipping houses, you know, It took, uh, you know, about six months, uh, about six to eight months before I got my first deal. And in that process, uh, that, that was from the decision to go into real estate, not knowing anything about it to, okay, we're going to get a deal. And then obviously you can see in, in one year I did over 75 deals and then 200 in, in three, that process for me was very. It was getting around some people learning these things, but then in multifamily and the, once you move into the larger space, it took much longer. Right. And so depending on how big your goal is, it's going to take you longer to get that, that feeling, that experience that you can do it. And that's why it's so critical that you're super. And you have that support system around you. So I just want to start off with that. And I mean, Dave, would you agree that it's super important to have those people around you? Yeah,

Dave:

it's, it's funny. I was just having a conversation with a relatively new relationship of mine, but I consider them a close friend already and it was all. You know, that kind of uncertainty of the big numbers, the zeros behind all these deals. And it really just boils down to, in my opinion, the immersion, like you're saying, right, just getting around it often enough that you get familiar and comfortable and then it doesn't seem so scary, whatever it is, if it's real estate or anything else in your life where you just see it enough, talk about it enough or around it enough eventually it'll kind of normalize in your head.

Steven:

Yeah, you have to overcome that fear. And so when somebody has a debilitating fear in their life, what a psychologist or a coach professional will do is they'll actually bring that fear into that person's life. So if they're afraid of snakes or maybe they're afraid of needles, they'll take the needle and they'll have it in the room. That person will be terrified. But over time you start to desensitize yourself. You start to believe that maybe there's a different set of beliefs out there. You start. Let go of some of that fight or flight, and you can start to show up from much better place. And it's exactly what you need to do in your business. It's what you need to do when you're passive investing. It's what you need to do across the board. So we're going to talk about these five success principles. I want to let you guys know ahead of time that we've put them all together into a resource. That's going to dive even deeper. Um, but this will get you started. Then you can actually take some action. You can grab that resource@investormindset.com slash success. That's an investor mindset.com/success. And I'm sure Dave will include that in the show notes, but the first of these five success principles, it's a huge one. It's actually kind of the whole core of the value add model. And it's really seeing challenges as opportunities. And so what does that really mean? And I want to pause here and just remind you guys that we're going to talk through some things that you've heard. We're gonna talk through some things that you may say to yourself. Oh, I know this, but I want to ask you. And I want you to ask yourself. Well, am I doing it? Am I living it? Is this my daily, uh, view of life. And if it's not, maybe this is the reminder of the moment to make that shift, to decide to do something differently. So when I'm talking about viewing challenges as opportunities, what I'm really talking about is the fact that life is full of challenges. It's full of things, not going the way that we want. It's full of traumatic breakup. It's full of business partnerships that implode it's full of going after deals and having them fall through and not work out it's full of terribly, uh, properties that are in terrible shape that nobody in their right mind would want to own. Unless you're viewing that challenge as an opportunity. And when you can do this, when you can actually start to see that these problems that are out in the world is actually an opportunity for you to grow. For you to be able to add value and for you to be able to make a profit or income or a return on that investment. That's where the magic really happens. And the best investors all know this. But if you think about it, um, we often hear a story of Richard Branson. For example, he was flying and his flight got canceled and he was annoyed and everyone was annoyed. And so he chartered a flight and that ended up leading to him launching Virgin airlines. Now that was a problem he dealt with. He saw it as an opportunity. He went out and did something and ended up creating a company out of it. So the same thing is true in real estate because when we're actually going to go buy this dilapidated property, the current owner is looking at it as an opportunity to sell, to make money. But you as the buyer, you're looking at it as, okay, well, Hey, what can I do to improve the value of this property so that I can make a return for my investor? And for ourselves. And so that's what it really comes down to. And when you can start having this shift happen, even when problems happen in your relationship, even when problems happen in your business, you're going to look at them and you're going to say. I identify that this is a challenge we're experiencing identify that we got a problem. So now let's figure out, Hey, how can we bridge the gap? How can we get to the other side? How can we maybe let go of it? How can we move on from it? How can we make it even better than it was before? And this is what the most successful people do is they have that little shift. They have that shift of perspective, and that ends up shifting their belief and shifting their.

Dave:

Yeah. If you see that mountain ahead of you don't look at it as a daunting task, look at it as a heck of a workout, right? Like you can get up and down the mountain and figured out that way and grow stronger out of it instead of, uh, just, just give it up at the bottom. So, uh, yeah. Continue Steven. Uh, where, where do we go now that we've identified that these challenges are actually opportunities?

Steven:

Absolutely. And so we started. And just as a reminder, you could choose just one of these principles to focus on for the next month and it'll change your life. It'll change your life. But we're going to work through many of them. And one of them is going to speak to you more than the other, or maybe a handful of them. And I encourage you guys to take these and apply these, but the second piece, and this is a huge one. This is a thing I see a lot of new investors. I see a lot of people who are interested in changing careers. I see a lot of clients going down this path and it's this idea of being ultra focused. And so what does that. Well being ultra focused, the principle of ultra focus is deciding what it is that you want, deciding the direction and going that one direction. It's not going in two directions. It's not going in three directions. It's choosing one. And committing yourself to it. Now that doesn't mean you can't change along the way. That doesn't mean you can't pivot and learn from the experiences that you have from the challenges that showed up that ended up leading to new opportunity. But what it does mean is that when you say you're going to go into multifamily and you're going to be an active operator, and you're going to go out and focus specifically on acquisitions, that doesn't mean that you're going to start looking at single family projects that come across your desk. That doesn't mean you're going to look at that commercial office project that comes across. You're focused in one area. Now, if you've hit major success and you're succeeding and you've got a great team and a business in place, now this might be different. You might be able to have had enough success to have enough momentum. To be able to focus in a second area, but only once you've had enough success and you're able to systematize the process. And so a lot of you are going to think, Steven, well, I know a lot of people who run multiple businesses and this is true, but they're not running multiple businesses before they've had one successful business or set up one very successful team and created that structure so they can do it. And the big mistake that I hear when I go to real estate events, when I'm talking. Uh, high performance clients that I'm working with one-on-one, uh, is that they're trying to do too many things. Their goal list is a hundred items long, and they're looking to go in so many different directions. If, if I'm talking with you and we're coaching together and you're sharing your goals, and you're telling me that you're going to flip four houses and you're going to buy two single family rentals, and you're going to go buy three, 200 unit buildings, and you're going to be going in all these directions. Maybe you can succeed, but most likely you're going to fail. The reason is, is because it's hard to have your focus in that many different directions, unless you're some kind of freak of nature, which if you are, give me a call because I'm looking to hire you or partner with you. But for the most part, it's pretty tough.

Dave:

Yeah. There's, uh, there's only so many waking hours in the day. And like you say, if you're not already set up for success in one channel, it is a little challenging to. Steer to ships, uh, unless once one's kind of already set up, um, the whole shiny object syndrome to me is very tough because there's a lot of eager minds that want to find success in so many channels and they just aren't. Sure. So I only assume maybe the next portion we're going is the decision making and you know how you kind of find it. But if it's not that. Hone in on, you know, what is that decision making process? How do you make that right choice to, to be able to be sure of yourself?

Steven:

This is exactly what it comes down to, is that at the end of the day, there is no perfect decision, but making a decision is the most powerful skill any businessperson or human can really have. And it's a skill. So many of us. I can just talk from personal experience that I'm really good about making some decisions and others. I fall into this category of, uh, let me think about it. Let me put it off. Let me, you know, uh, you know, kind of come back to it month after month, year after year, and all of a sudden you're a decade down the way, and you still haven't done the thing that you wanted to do. When you can go into, and I'm going to share these next two principles at the same time. And of course, remember, you guys can grab that@investormindset.com slash success. If you want to download the full outline of all of this with a little bit of extra worksheet that goes along with it, but it comes down to getting clear on what you want and why. And the, what is actually most important here? The why is the driving factor? It's that emotional driving factor. It's the thing that ends up creating that momentum, what it is that you want, why you want it? Well, we got to get clear on what we want and we got to actually dive deeper into that. What, over and over, sometimes asking ourselves the question, why do we want this can actually help us clarify what it is that we actually want. Here's a perfect example. I say, I want to start investing in real estate. Well, why do you want that? Well, why I really want that is I want to be able to create some passive income. Well, why do I want passive income? Because I want to be able to have the freedom, to have the flexibility, to go and do what I want when I want, well, why do you want that? Um, and you keep going further and further, and you're going to get an even deeper answer. But even in asking those questions, I already know more. About what it is that I actually want. Right. I want cashflow, I want income. I want it to be coming consistently so that I can do what I want when I want. Um, so now I can set a better goal. I can set a better, uh, desire of what it is that I want. Maybe that what now is I don't want to just invest in real estate. I want to invest in real estate so that I can create $10,000 a month of passive income. So that I have the initial level of financial independence so that I can go and do the things that I really care about and want. And so in this process, what we're doing is we're actually going to brainstorm all the things you want in your life. What, what are all those things were all your Watts. And if we're talking about the lack of focus, we're talking about all these shiny. Those are all going to be listed. And then we're actually going to go backward and go through this process. We're going to start identifying when do we want that by? When is it important and what is the priority? And we can put these things in priority order. We can start to actually see, well, what is most. And then through that process, maybe we can combine some of these together. We can chunk them together. Maybe we can, um, accomplish one set of objectives by actually doing another. We can start looking at it from this perspective of getting clear on what it is that we want and then breaking it down. And here's the biggest piece that comes in from a focus perspective. It's actually saying no to all of the other things that are also. And so here's a great example. I was talking with one of my clients just this week, we're working through the same process, successful earning great money has a net worth bigger than most of the investors in my deals. And, you know, very successful wealthy person, but doesn't necessarily feel successful all the time because they deal with all the beliefs that all of us deal with from time to time. But going through the process of asking these question, There is a list of different real estate activities. This person could focus on and there were all over the place, but by simply being able to say no to ideas that would make 20 or 40 or a hundred thousand dollars here or there, um, it actually, what that did was it gave him. The clarity to be able to see that, oh, well, if I just focus all of my energy in these two or three areas, I'm going to be able to be a great father. I'm going to be able to, you know, greet, be a great business person and lead a team and I'll be able to make millions of dollars. And so sometimes it's by saying no to the good ideas so that we can say yes to the great ones and we can actually execute. And that's what it really comes down to. And it's hard because we want it all. But in order to have it. We need to say no to the things that aren't as important. And so it's super, super big to be able to make those decisions. But first you got to start getting clear. So you know what you're actually looking to. Yeah.

Dave:

And that you'll hear a lot of people say, right. That it's the freedom of decision-making freedom of time, all these things. And then they'll go and do things that just don't correlate to getting to that goal all the time. It's so funny. It's like, why are you spending time? Doing these transactions or into this type of business in real estate or other business that doesn't even line up with your goal. Like, what happens if you find success in this channel? Doesn't mean you're going to be able to do the things you wanted to originally know. You just got so sidetracked with this new thing or the several new things that it doesn't matter how good you are at. It's not going to get you to where you want it to be originally anyways. So yeah, working backwards and almost kind of, you know, building the puzzle out from, from the middle out is the best way, like you're saying. Cross out the channels that don't make sense in your mind, um, to get you there.

Steven:

So it's, it's so true. And here's just an example for my personal life, right? At Von Finch capital, we go and buy multifamily properties and we work with our passive investors. Well, we previously were house flipping companies we've talked about. Well, in that process, I set a goal of what I want was to create in. In real estate, I wanted to do it so I could prove to myself and I could be a real estate investor, and then I could make great money and I could scale up a business. I did that. I proved it. I made great money. I did 200 flips. I made a great income and I got to the end of the, the, the period at the end of year one in the year two. And I realized, okay, well, what was my real goal? What did I actually. I wanted income that would come in consistently, regardless of whether I was working, I don't want it a business that could operate without me in it every single day. And I wanted to work with clients that also had the same kind of beliefs that I did that believed in growing and believed in being able to create a better life and believed in the idea of investing. And so I recognize only after getting in. That my new challenge was an opportunity to change. So I set a goal. I went out, I dominated, I got to the top of one mountain and I realized in that process that I learned some new things that I actually needed to be on a different mountain that I needed to actually transcend myself back down the mountain, cut the ego from being at the top and start going up a new mountain with other big successful people. But I knew it was possible because I did it. And I knew it was possible because I had the moment to get clear on what it is I want. And by doing that, we've been able to buy tons of property, help tons of investors. And it's a lot more fun. It's a lot more enjoyable, but the only way you're going to bridge that gap, the only way you're going to navigate through those difficult valleys is if you get super clear on what it is you want, you get that clear vision and you've got a purpose behind you. That's driving. And that actually leads into the final of these five success principles. And I think it's one of the most important. There's one of the ones that I had some beliefs about the held me back for a long time. I used to believe that people who invested in mentorship or coaching or masterminds were idiots. They used to think, oh, they're getting hoodwinked by these people. They're getting ripped off because, you know, I grew up, uh, in an environment that was very middle-class and we didn't really think about paying for things like that. We didn't think about it from that perspective. And I also heard a lot of things from bigger pockets, kind of, you know, talking about education shouldn't cost. You. The interesting thing about it was once I invested in a mastermind and it was because I had a partner who insisted on it, it ended up leading us to building the business that I built. And so the fifth and final of these five success principles is one of the most critical and crucial. Now I coach people, but I recommend more so than even promoting anything that I'm doing. That you go out and find people who you can mentor with, but you can coach with and you can mask. And there's a difference between all three of those, right? A mentor is somebody who has been on the path. They know what to do. They're going to light the way, and they're going to show you how to get where they've already gotten. A coach is different. A coach is somebody who may not be the best player on the field. Michael Jordan is one of the best players on the field. Phil, his coach was one of the best coaches because he had the ability to pull out the. In his players and get them to work together. And that's what a great coach will do is pull out the best of you, help you get clear, help you be able to take those steps and keep you accountable. So you're actually doing those things and the mastermind is getting surrounded by other people who are already succeeding. So you can start taking the on there. And so it's so crucial and it's critical because at each step of these things, while you're going through this change process, while you're evolving, while you're changing the way that you think you need that support, because things are going to happen when you get into a relationship and it doesn't work. You're gonna want to have some support around you. You're going to have somebody who can help you navigate that. When you have a failure in your business, you're going to help someone. You're going to have somebody around to help you navigate that, to figure out, Hey, how can I get things back on track? And even more importantly, when things are going well, you want someone there to help you make sure that you keep doing the things that got you there. And so that's why all of these different pieces all fit together. And I encourage you to. To ask yourself, which of these speaks to you or all of them speak to you and think, how can I start applying them in my life today? Because they'll make huge changes and it's a lifetime, uh, practice. It's not something you do. It's something that you continue to do until it's a habit and a habit is something that you just always do. You just do subconsciously

Dave:

before we dive into the five key questions here, Steven, I just wanted to pick your brain. You had a partner that convinced you to get into a mentorship mastermind group of those three pillars. You mentioned the mentor, the coach, and the mastermind level of networking. What one provided more, or I guess the most value compared to what you thought you would get out of. I know that's a tough one, but maybe I just ponder it for a second.

Steven:

The biggest value that I got from joining this mastermind group was that I it's the same value I get from coaching. It's the same value I get when I have a great mentor that I've brought in into my world. And it's that I get a different perspective on my own situation. I was able to. C as a result of joining this group, I was able to see other people succeeding that I looked at and thought, well, if this guy can do it, I can definitely do it. You know, like if he could do it, I can definitely do it. And so, uh, it's actually extremely valuable. You meet super smart people. You meet people who are not so smart. You meet people are in the middle or just like you, and you end up being able to recognize what's possible. And it gives you a little bit of momentum motivation, but more so than that, you ended up having the ability to share in these different ideas. You know, when I'm working with my clients, they're getting lessons, uh, of what's working across multiple different industries, multiple different, uh, strategies within different businesses. And they're able to apply those themselves in the same as true when you're in a. It's it's simply the, you know, right now you're listening to a couple of people talk about their experiences and you're getting some mentorship right here. It's not personalized to you. It's not about your specific situation, but it might be speaking to you. And just imagine what that would be like if you had the ability to ask questions and have people help support you on your specific journey.

Dave:

Yeah. And I think, like you said, Going into a program like that. Having a different perspective is huge with that. I'll say. And just as more for the listener, if you are not prepared to be open about yourself opened by your situation, it may not be the time for you yet. And that might be something you have to talk through with maybe someone closer, but getting into these groups, you'll just get so much value. If you're ready to be real with the people that you're going to surround yourself. So go in with that kind of mindset and you'll just see compounding compounding results. It's absolutely

Steven:

crazy. There'll be a huge shift. Will absolutely be a huge shift for sure.

Dave:

Stephen let's get into what we've been picking mental fortitude the whole time here, but, um, I want to hit these five key questions. Cause as you said, you, you index your, your, a successful people in the industry. This is how I get mine done. So the first one here, if you could only pick one trait that explains your success, what is that trait?

Steven:

Yeah, that the trait for me is an obsession with growth. It's with an obsession, with learning, how to be better, how to grow, how to be able to take things to another level and just continuously applying that. And so that skill is simple. Anyone can take on this idea of growth. It's just a view that, oh, well, today I'm where I'm at. I'm just competing against an old version of myself. Not everyone.

Dave:

And then what is the most uncharacteristic thing you have done in your business and why did you do it?

Steven:

Uncharacteristic thing? I mean, one of them is definitely going from a business. That's flipping nearly a hundred houses a year and then just pivoting directly and entirely and shutting that bad boy down and selling off all the assets and going directly into multifamily. But the reason that was the smart choice was because I knew what I was doing. I knew what I really wanted. I knew that it would pay off much bigger in the long run than, you know, sitting back and, you know, staying put in the current spot, current position

Dave:

and then kind of related to that. But can you name a time where you felt like you weren't going to end up successful, whether it was single family, the multifamily, anything. And how did you overcome that fear?

Steven:

I mean, this happens all the time. I'm no, I I'm not special. I might have a drive that is different than some other people's, but I have that feeling come up from time to time. But the thing that gets me over it is the recognition that it's possible to get through it. That, that I really do see challenges and opportunities. And even when the hard things happen in life, I, I look for support. I look for mentorship and coaching. I look for people in my life who can help guide me down that path. And I look to shift the way I think, and then great things come up.

Dave:

And then opposite to that. Can you name a time where something in your business went perfectly or near perfectly? And what did you do to make that reality?

Steven:

Yeah, so nothing ever goes perfect. I hear that. That's the biggest lesson is that nothing goes perfect. And we shouldn't be looking for perfection now with that said I'm a recovering perfectionist. I'm definitely, always trying to drive through. Being better. Um, instead of just appreciating what is, um, but what I will say is that there's been plenty of times in our business where things have gone really well. And in those moments, I think the biggest lesson is just to be grateful for it to say thank you to actually acknowledge that win that's success, because sometimes when you're climbing the ladder and you make it to another level, Uh, you don't stop to appreciate it. You just jump right up to that, that next ladder and start climbing. But it's really important to actually take that moment and appreciate it. Celebrate it, have a win, and then, you know, keep climbing.

Dave:

And that's why you get a network right. To celebrate those wins too. So it all, it all folds into each other. And the last one here is a little bit easier, but what have you been focusing on lately to improve yourself or your.

Steven:

Yeah, I'm always focusing on things. I'm a big believer in coaching and mentorship. So I have a few different coaches. I just recently, uh, joined, uh, uh, a personal valving group specifically for men, uh, which has been great because you get to share in some of the things that men typically don't have a. To be able to share in some of those growth things in business and your personal life. And it's been phenomenal. And I, I couldn't recommend it enough for people to go and find support, find somebody that's going to help them drive to another level or a group of people. That's going to do that and, and make that kind of the key focus for this next quarter.

Dave:

Couldn't appreciate your time more today, Steven, before we sent off, you just want to get one last plug guy. You came upon your podcast, a, the one pager on the goals. Just one more time would

Steven:

be awesome. Yeah. So I recommend if you guys are interested in investing with bond Finch, you head over to bond finch.com. You can learn a little bit about us and you can download our, our passive investor playbook, which is a 52 page guide on passive investing. We'll walk you through everything you need to know to get started, or to take it to another level. If you've already been doing it. Um, if you want to get in touch with us. You know, with me, I encourage you to head over to your favorite social media, shoot me a DM. Let me know, where are you listening to me? And, uh, me or someone from my team will put you in touch and share the resources that are going to help you get to that next level. And the thing I want to leave you with is just a reminder to ask yourself, what did you learn today? What inspired you today? And what action are you going to take as a result of listening and go and do that. And if you feel inspired, send me a message and let me know what that action was.

Dave:

Steven. Thanks once again, really appreciate. Thank

Steven:

you.

Dave:

Thank you for listening. This has been the Making Money in Multifamily Podcast. If you have any questions, comments, or would just like to connect, please feel free to check out the show notes for how you can connect or visit longviewacquisitions.com

Where Steve found success
Skills that every successful investor has
Identifying challenges as opportunities
The decision making process
Masterminds with the most value
5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
5KQ5 - What have you been focusing on lately to improve yourself or your business?