Podcasts Business Your Financial Pharmacist YFP Real Estate Investing 21: Setting Your Mindset for Success with Ketan Patel

YFP Real Estate Investing 21: Setting Your Mindset for Success with Ketan Patel

Published: Sept. 4, 2021, 9 a.m.

Ketan Patel discusses mindset and an overview of syndication in real estate.

Episode Summary

Even though it is the cornerstone to success, mindset is often overlooked. We do not realize how much our limiting beliefs are holding us back from getting started in real estate or taking the next step. Ketan Patel, a pharmacist, turned full-time real estate investor and High-Performance Real Estate Coach, looks to help his clients overcome the thoughts that hold them back so that they can flourish. In this episode, we hear about Ketan\u2019s journey from pharmacy to real estate, where he talks about why we need to reframe risk. Ketan explains how individuals struggling with mindset can overcome those obstacles and shares insight for building confidence in real estate investing. Rather than thinking about what we might lose, if we consider what we can gain, taking bold action becomes easier. Ketan shares the innovative way he funded his first deal, and he also talks about multifamily syndication, a great way to passively invest in real estate. The conversation touches on the power of mindset, where Ketan offers insights into how he\u2019s worked on his. Ketan shares the value of being grateful for what you have and why you have to find joy beyond the numbers. Ketan truly embodies the idea that mindset matters.

Key Points From This Episode

  • Get to know today\u2019s guest, Ketan Patel.\xa0
  • Hear details about Ketan\u2019s pharmacy journey and his subsequent transition into real estate.\xa0
  • How Ketan moved into real estate; it wasn\u2019t all at once.\xa0
  • Insights into Ketan\u2019s first deal and the creative way he managed to get funds for it.\xa0
  • Why Ketan believes that there is no such thing as a risk: you always win something.\xa0
  • How mindset influences your outlook and frames the way you see things.\xa0
  • Typical roadblocks Ketan that helps his clients overcome.\xa0
  • At some point, you have to ask yourself why you are truly not making the decision to jump into real estate.\xa0
  • Where Ketan\u2019s first deal opportunity came from.\xa0
  • Confidence comes after action, not the other way around.\xa0
  • A look at what syndication is, how this structure works, and the partners involved in deals.\xa0
  • Who can participate in syndication and whether or not you need to be an accredited investor.\xa0
  • What Ketan is currently working toward; it\u2019s more than just the numbers.\xa0
  • Finding the balance between wanting more and living in the moment.\xa0
  • Final questions to end the show.\xa0\xa0

Highlights

\u201cI realized that with real estate, you have a lot of flexibility. You could do a flip, you could partner with someone, invest passively, you could buy a small rental, you don't have to quit your job day one.\u201d \u2014 Ketan Patel [0:06:45]

\u201cIt doesn't really matter what business you do and what your strategies are. At the end of the day, the thoughts, the beliefs, the emotions you have, they determine so much about your success and things like that. Instead of just focusing on the knowledge, the technical aspects, they are important, but they're not as important.\u201d \u2014 Ketan Patel [0:10:12]

\u201cYou can\u2019t postpone happiness and joy and everything for the future. I got to start living it now regardless if I have that or not.\u201d \u2014 Ketan Patel [0:30:15]

\u201cWe [pharmacists] don't give ourselves credit of what's really possible for us.\u201d \u2014 Ketan Patel [0:32:44]

Links Mentioned in Today's Episode