Podcasts Business Micro Empires The True Meaning of Wealth with John Manes

The True Meaning of Wealth with John Manes

Published: Nov. 17, 2020, 5 p.m.

John Manes had it all; a great job, great wife, great car and home... and then he checked himself into the hospital for suicide.  Why?  Because he needed to learn the true meaning of wealth.  John started over, from nothing.  Building the a life of true wealth: financially, emotionally and spiritually.

Self storage, real estate, investing, networking.

 

[00:01 - 18:34] Opening Segment

 

  • I introduce John Manes to the show
  • John talks about his background and money culture growing up
    • Grew up financially unstable
    • Using brains, not brawns
    • Poverty mentality
  • John talks about his past hospital check-ins
    • His turning point to work himself up in retail
  • Codependents Anonymous
    • John’s realization on his lack of control towards people
  • John’s counseling sessions
    • Virginia Satir Method
    • “Your Money or Your Life”
  • John’s custom-made jacket from Shinesty



[18:35 - 40:44] Self-Storage: An Investment Strategy

 

  • John landed a job as a district manager in Self-storage
    • Compounding
  • Being paid every mileage
    • John talks how he earned 10 thousand dollars by just driving a Nissan
    • John’s 10-acre house
  • HARP (Home Affordable Refinance Program)
    • Built John’s net-worth
    • John bought his first self-storage property
  • Quick shoutout to my Podcast Producers: Streamlined Podcasts
    • Use promo code: JIVES and get a discount
  • Sometimes your bank is at fault for you debts
    • Let the customers make you wealthy
  • Storage as a recession resistant asset class
    • John talks about how other people’s things and how they are attached to it pays for his mortgage
    • People will use storage spaces in good and bad economies
  • COVID-19 and the retail centers
    • John expresses his fear on what may happen to retail centers in a couple of years
  • John’s coaching of retired athletes
    • Take that same million dollars and buy a cash flowing asset like storage
    • Go buy a house with the generated income



[40:45 - 48:31] Breaking Out 

 

  • John talks about how he always wakes up with a glass half-full
  • He landed a COO job in a Self-storage company
    • The bully environment got John fired
  • John talks about some of his past bosses’ red flags
    • John getting fired because of partnering with his boss’s competition
    • Inferiority complex from the superiors
    • Seeing this as a big opportunity
  • Ex athletes as an example
    • They grew up being told what to do



[48:32 - 56:44] Getting Started in Self-Storage and Best Advice

 

  • Not being greedy and not expecting something in return
  • Four components to building a deal
    • Find the deal and lock it up
    • Raise the money
    • Being able to sign on the loan
    • Operating the deal
  • Best advices
    • I disagree with the saying that “looks will never get you anywhere”. 
    • Having a presence about yourself. looks do get you somewhere.
  • Resources that made an impact
    • Micro Empires Podcast
    • The Will Smith Podcast
    • BiggerPockets Real Estate Podcast
    • Networking and getting involved with people



[56:45 - 58:53] Closing Segment

 

  • How to connect to John
    • See links below
  • Final Words




Tweetable Quotes:

 

“Money is just a tool to get things done.” - John Manes

 

“When the economy is good, they store. When the economy is bad, they store. Unlike any other asset class, it does well.” - John Manes

 

“Self-storage is a business inside of a real estate play.” - John Manes

 

“Anybody can get involved in any deal right now. You just need to know what your strength is, focus on your strength, and then you’ll figure out where to look. Once you’ve figured out where to look, it’s amazing how the doors just open right up.” - John Manes



Resources Mentioned:

 



If you’d like to connect with John, you can visit www.pinnaclestorageproperties.com and go to the contact us page. You can also call 210-818-1496 or you can email him at john@johnmanes.com.

 

You can connect with me on LinkedIn, Twitter, Instagram, and Facebook. I’m excited to hear more about you. I’m excited to know more about you. Also, feel free to shoot me an email at jennifer@micro-empires.com. You can call or text 213-973-7206



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