(Video Transcript - lightly edited for clarity)
When we take on a new client, we start working with the end in sight. The end in sight means you are eventually going to leave real estate. Either by choice or through death. It is inevitable, you will get out of real estate.
How many more years do you want to do it? I don't care if you are 20 years old or 50 years old. Eventually, you will get out of business.
We work with all of our clients, helping them determine their exit strategy. We do that in the first 90 days. We're going to ask the question: “How many more years do you want to do this?”
“But I am 25 years old and I’m in it for the next 40 years.” What if you had the ability to walk away from the business, very profitable, in 20 years? Why will you wait until 40? It's not that you may not walk away, but it's having the ability to walk away and not be tied into just you making income from real estate to sustain your life.
What about building multiple pillars of income? Real estate is one pillar of income. As Warren Buffet says “Invest in what you know best”. Most real estate agents know real estate best. So, if you want to have multiple pillars, invest in pillars that are focused on real estate. Whether it's flipping houses, property management or buying storage units, it is still real estate.
The majority of agents when they are done, they pack up their "toys", they go home and they lose a lot. They don't do anything with their business, and that is criminal.
If you hear me right now, find an agent or team owner who wants to retire, buy their business. We can help you walk through the steps on how to do it. If you are a client of ours, I'm going to teach you how to buy, because I want you to get lots of money.
We help a lot of clients to sell their business and we help them to buy businesses. We sold one client's business for 7 million dollars that included 6million up-front.
So, if you want to learn how to maximize your exit strategy, call us today.