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Patrick from Austin Texas writes.
\\nHello Victor. Congrats on all of your success. I have followed you for years now. Do you suggest any good masterminds. I currently own 110 single family homes for rentals. I have them professionally managed so I only spend 15 minutes a month on my real estate and I\\u2019m looking to expand.
\\nPatrick, thank you for the kind words and that is a great question. Masterminds are an amazing way of elevating your life to another level.
\\nWhile the concept of a mastermind has been around for a long time, the greatest modern day articulation was in the book Think and grow rich by napoleon hill. In that book Napoleon Hill describes the masterminds of Henry Ford and Andrew Carnegie.
\\nI\\u2019ve participated in many different types of masterminds over the years. I actively participate in them even today.
\\nFor example, I have a call every Sunday morning at 9AM. That conference call is an integrity mastermind. About 4-5 of us get on the phone each week and share what we have discovered in the past week about integrity. Now when I talk about integrity, I\\u2019m not talking about the honesty definition of the word. I\\u2019m talking about workability. For example, if you have a bicycle wheel with broken spokes, then that wheel is lacking in integrity. The wheel isn\\u2019t bad. The wheel isn\\u2019t dishonest. It\\u2019s just lacking integrity and more importantly, it\\u2019s possible to restore integrity. So we look at where things are breaking down in our lives and brainstorm structures that can be put in place to permanently restore integrity in that area.
\\nThere are larger masterminds that are run as a business. For example, I used to participate in a mastermind which had about 30 members. The price of admission was $25,000 a year. The host would bring in various speakers to share their wisdom. We had an Entrepreneur who built and sold a business for $800M. We had the CEO of Krispy Kreme donuts. We had a senator. All kinds of incredible people who we probably would not have been exposed to were it not for the mastermind.
\\nMy friend Kyle Wilson was Jim Rohn\\u2019s business partner for 18 years. Jim Rohn is considered the father of the modern day seminar industry. He mentored Tony Robbins, Zig Ziglar, and countless others who today have established themselves as thought leaders. Kyle has several mastermind groups that he leads across the country. There\\u2019s one in Dallas, Los Angeles and Philadelphia. These meetings are monthly and usually take place over two full days.
\\nThe thing to remember is that there is no one way to do this.
\\nI host a monthly mastermind conference call with George Ross. George is 92 years old. He has over 60 years of business experience and he just recently retired at age 89. We record the calls and even if a member of the mastermind can\\u2019t make the live call, they can listen to the replay and still get huge value from the conversation with the participants on the call.
\\nHere are a few best practices that in my experience make for a successful mastermind.
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