669: How to Do First Real Estate Deal at 18 Years Old, Now $400k/mo In Rental Income with Best Seller Dean Graziosi

Published: May 24, 2017, 9 a.m.

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Dean Graziosi\\u2014he 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,\\xa0 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\\u2019s obsessed with sharing his success along this journey with the world.

Famous Five:

  • Favorite Book? \\u2013 The Untethered Soul and The Surrender Experiment
  • What CEO do you follow? \\u2013 Ernest Shackleton
  • Favorite online tool? \\u2014 N/A
  • How many hours of sleep do you get?\\u2014 6-8
  • If you could let your 20-year old self, know one thing, what would it be? \\u2013 \\u201cDon\\u2019t 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\\u2019t serve you, man, you could just go a lot faster\\u201d

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Time Stamped Show Notes:

  • 01:22 \\u2013 Nathan introduces Dean to the show
  • 02:28 \\u2013 Dean skipped college
  • 02:42 \\u2013 When Dean was 16, he would buy wrecked cars and flip them in his garage
    • 03:00 \\u2013 He has bought some of the cars for $500 to $5000
  • 03:11 \\u2013 Dean got his first real estate deal at 18 with no money down
    • 03:17 \\u2013 Mrs. Laprezzti gave him a deal with no money down
    • 03:20 \\u2013 Dean paid Mrs. Laprezzti monthly and he renovated the place
  • 03:49 \\u2013 Dean\\u2019s social studies teacher who was also a real estate agent gave Dean leads of people who had houses that were not selling
    • 04:45 \\u2013 Dean gave Mrs. Laprezzti $2500 a month for a 4-unit apartment, for 3 years
    • 05:05 \\u2013 Mrs. Laprezzti needed $2K for her expenses for the condo
    • 05:31 \\u2013 Dean didn\\u2019t care that he may be paying more
    • 05:48 \\u2013 Dean promised that he\\u2019d pay her in 3 years
    • 05:55 \\u2013 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 \\u2013 Dean was making $4200 when he rented out the place, then he sold it
    • 06:24 \\u2013 Dean still owns around 400 houses, right now
  • 06:56 \\u2013 Dean\\u2019s dad was born during the Depression
    • 07:20 \\u2013 His dad was a mechanic and a collision repair shop guy
  • 07:26 \\u2013 Dean evolved by maxing out on the equity he could gain from each of his houses
    • 07:38 \\u2013 After the condo, Dean got an old, rundown mansion and turned it into 10 apartment units
    • 07:53 \\u2013 Dean refinanced the apartments and bought more apartments
    • 08:00 \\u2013 It was the late 80s and early 90s when Dean transferred to upstate New York
      • 08:09 \\u2013 Dean bought some land and went into the process of subdividing
    • 09:10 \\u2013 Back then, Dean was just hustling for the next property, taking the cash, and making a creative deal
      • 09:30 \\u2013 \\u201cThere\\u2019s always a creative deal\\u201d
      • 09:45 \\u2013 It\\u2019s about buying off-market deals
    • 10:21 \\u2013 Average revenue from all of Dean\\u2019s properties is $380K
      • 10:45 \\u2013 The market value for 380 units is around $20M
      • 10:54 \\u2013 Dean is half leveraged in all of the units
    • 11:45 \\u2013 Dean authored a couple of books because he is obsessed with marketing and sales
    • 12:10 \\u2013 Dean\\u2019s last 2 books are self-published
    • 12:21 \\u2013 Dean\\u2019s first book was with a publisher
      • 12:24 \\u2013 Dean didn\\u2019t want an advance deal from his first book
      • 12:31 \\u2013 Dean used to get 35-40% of gross sales
      • 12:43 \\u2013 Dean\\u2019s first book is Totally Fulfilled
    • 12:46 \\u2013 Dean\\u2019s latest book is Millionaire\\u2019s Success Habits
    • 13:01 \\u2013 Most of the publishers don\\u2019t market your book and rely on you to market your own book
    • 13:07 \\u2013 Dean sold a million copies of his second book
      • 13:10 \\u2013 Dean had an infomercial running everyday, offering the book on TV
      • 13:25 \\u2013 \\u201cYou definitely need a marketing mechanism if you need to write a book\\u201d
    • 13:38 \\u2013 Dean\\u2019s most effective marketing strategy is giving away free books
      • 13:42 \\u2013 Dean has an incoming infomercial with Larry King, who has impacted Dean\\u2019s life
      • 13:56 \\u2013 Dean met Larry King through mutual friends
      • 14:01 \\u2013 Dean told Larry that he made an impact on Dean\\u2019s life, gave his book to Larry and asked Larry if he can interview him
      • 14:09 \\u2013 Larry came to Dean\\u2019s studio
      • 14:22 \\u2013 8 years ago, Dean watched Larry interview Joel Osteen
      • 14:59 \\u2013 Dean did the first interview show on TV without scripts, teleprompters or voiceovers
      • 15:09 \\u2013 The show broke a hundred million dollars in sales
    • 16:05 \\u2013 Dean only negotiated for a bigger share in book sales because he knew that his books would sell
    • 16:25 \\u2013 Millionaire\\u2019s Success Habits is a hardcover book and still ships that way, there is no ebook
    • 17:00 \\u2013 com is for people who have the ability to find success trainers that are qualified
      • 17:10 \\u2013 They have courses and high-performance coaching
      • 17:25 \\u2013 It\\u2019s a step-by-step on how to become a high achiever
      • 17:33 \\u2013 They just broke $220K in sales
      • 17:55 \\u2013 100% of the money is going back in
      • 18:10 \\u2013 \\u201cIt\\u2019s a feel good, it\\u2019s a legacy thing\\u201d
      • 18:13 \\u2013 They might sell Growth in 3 years
      • 18:19 \\u2013 Dean and his 2 co-founders split Growth equally
    • 19:08 \\u2013 Dean started a $100K year mastermind with Joe Polish
    • 20:13 \\u2013 When you go and share one of your greatest strategies, others will shares theirs. too, and it multiplies
    • 20:35 \\u2013 \\u201cMastermind has been the greatest lift of anything I\\u2019ve ever done\\u201d
    • 22:30 \\u2013 The Famous Five

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3 Key Points:

  1. Persevere and be patient, the right time will come.
  2. Sharing your strategies for success doesn\\u2019t create more competition; instead, it gives others permission to share how they became successful as well.
  3. Don\\u2019t let your thoughts stop you\\u2014observe them and throw out the shit that doesn\\u2019t serve you.

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Resources Mentioned:

  • The Top Inbox \\u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • Organifi \\u2013 The juice was Nathan\\u2019s life saver during his trip in Southeast Asia
  • Klipfolio \\u2013 Track your business performance across all departments for FREE
  • Acuity Scheduling \\u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
  • Host Gator\\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
  • Audible\\u2013 Nathan uses Audible when he\\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
  • Freshbooks \\u2013 Nathan doesn\\u2019t 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

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