http://nathanlatka.com/thetop669/

In Episode #669, Nathan interviews Dean Graziosi—he knows how to create success. From extremely humble beginnings, he started with a firewood business in high school to a collision repair shop and his first real estate deal before he turned 20. From there, he created a multi-million dollar real estate business, became a New York Times best-selling author multiple times,  and is one of the most watched real estate and success trainers of our generation. He maximizes his success and profits on each of his endeavors along his evolution and his businesses have generated nearly one billion dollars in revenue. He’s obsessed with sharing his success along this journey with the world.

Famous Five:

  • Favorite Book? – The Untethered Soul and The Surrender Experiment
  • What CEO do you follow? – Ernest Shackleton
  • Favorite online tool? — N/A
  • How many hours of sleep do you get?— 6-8
  • If you could let your 20-year old self, know one thing, what would it be? – “Don’t believe your thoughts, they lie to you most of the time. If you could just observe your thoughts and throw away the shit that doesn’t serve you, man, you could just go a lot faster”

Time Stamped Show Notes:

  • 01:22 – Nathan introduces Dean to the show
  • 02:28 – Dean skipped college
  • 02:42 – When Dean was 16, he would buy wrecked cars and flip them in his garage
    • 03:00 – He has bought some of the cars for $500 to $5000
  • 03:11 – Dean got his first real estate deal at 18 with no money down
    • 03:17 – Mrs. Laprezzti gave him a deal with no money down
    • 03:20 – Dean paid Mrs. Laprezzti monthly and he renovated the place
  • 03:49 – Dean’s social studies teacher who was also a real estate agent gave Dean leads of people who had houses that were not selling
    • 04:45 – Dean gave Mrs. Laprezzti $2500 a month for a 4-unit apartment, for 3 years
    • 05:05 – Mrs. Laprezzti needed $2K for her expenses for the condo
    • 05:31 – Dean didn’t care that he may be paying more
    • 05:48 – Dean promised that he’d pay her in 3 years
    • 05:55 – At the end of 3 years, Dean had the room fully rented and he was able to get a bank loan and pay Mrs. Laprezzti off
    • 06:10 – Dean was making $4200 when he rented out the place, then he sold it
    • 06:24 – Dean still owns around 400 houses, right now
  • 06:56 – Dean’s dad was born during the Depression
    • 07:20 – His dad was a mechanic and a collision repair shop guy
  • 07:26 – Dean evolved by maxing out on the equity he could gain from each of his houses
    • 07:38 – After the condo, Dean got an old, rundown mansion and turned it into 10 apartment units
    • 07:53 – Dean refinanced the apartments and bought more apartments
    • 08:00 – It was the late 80s and early 90s when Dean transferred to upstate New York
      • 08:09 – Dean bought some land and went into the process of subdividing
    • 09:10 – Back then, Dean was just hustling for the next property, taking the cash, and making a creative deal
      • 09:30 – “There’s always a creative deal”
      • 09:45 – It’s about buying off-market deals
    • 10:21 – Average revenue from all of Dean’s properties is $380K
      • 10:45 – The market value for 380 units is around $20M
      • 10:54 – Dean is half leveraged in all of the units
    • 11:45 – Dean authored a couple of books because he is obsessed with marketing and sales
    • 12:10 – Dean’s last 2 books are self-published
    • 12:21 – Dean’s first book was with a publisher
      • 12:24 – Dean didn’t want an advance deal from his first book
      • 12:31 – Dean used to get 35-40% of gross sales
      • 12:43 – Dean’s first book is Totally Fulfilled
    • 12:46 – Dean’s latest book is Millionaire’s Success Habits
    • 13:01 – Most of the publishers don’t market your book and rely on you to market your own book
    • 13:07 – Dean sold a million copies of his second book
      • 13:10 – Dean had an infomercial running everyday, offering the book on TV
      • 13:25 – “You definitely need a marketing mechanism if you need to write a book”
    • 13:38 – Dean’s most effective marketing strategy is giving away free books
      • 13:42 – Dean has an incoming infomercial with Larry King, who has impacted Dean’s life
      • 13:56 – Dean met Larry King through mutual friends
      • 14:01 – Dean told Larry that he made an impact on Dean’s life, gave his book to Larry and asked Larry if he can interview him
      • 14:09 – Larry came to Dean’s studio
      • 14:22 – 8 years ago, Dean watched Larry interview Joel Osteen
      • 14:59 – Dean did the first interview show on TV without scripts, teleprompters or voiceovers
      • 15:09 – The show broke a hundred million dollars in sales
    • 16:05 – Dean only negotiated for a bigger share in book sales because he knew that his books would sell
    • 16:25 – Millionaire’s Success Habits is a hardcover book and still ships that way, there is no ebook
    • 17:00 – com is for people who have the ability to find success trainers that are qualified
      • 17:10 – They have courses and high-performance coaching
      • 17:25 – It’s a step-by-step on how to become a high achiever
      • 17:33 – They just broke $220K in sales
      • 17:55 – 100% of the money is going back in
      • 18:10 – “It’s a feel good, it’s a legacy thing”
      • 18:13 – They might sell Growth in 3 years
      • 18:19 – Dean and his 2 co-founders split Growth equally
    • 19:08 – Dean started a $100K year mastermind with Joe Polish
    • 20:13 – When you go and share one of your greatest strategies, others will shares theirs. too, and it multiplies
    • 20:35 – “Mastermind has been the greatest lift of anything I’ve ever done”
    • 22:30 – The Famous Five

3 Key Points:

  1. Persevere and be patient, the right time will come.
  2. Sharing your strategies for success doesn’t create more competition; instead, it gives others permission to share how they became successful as well.
  3. Don’t let your thoughts stop you—observe them and throw out the shit that doesn’t serve you.

Resources Mentioned:

  • The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • Organifi – The juice was Nathan’s life saver during his trip in Southeast Asia
  • Klipfolio – Track your business performance across all departments for FREE
  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible
  • Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
  • Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
  • Show Notes provided by Mallard Creatives

The post How to Do First Real Estate Deal at 18 Years Old, Now $400k/mo In Rental Income with Best Seller Dean Graziosi appeared first on Nathan Latka.

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