Make Your Rules & Reduce Your Risk (John Jackson)
REIClub | Real Estate Investing Podcast · REIClub & George Uno
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Show Notes
As someone who embraced legal lease options in Texas, John took advantage of the opportunity the regulation created. From working with one or two FSBO sellers to eventually scaling up and moving hundreds of properties every year, John was named the King of Lease Options by Joe McCall himself.
But all of that business success set John up for some painful failures, so John thought back to his time as a stock trader came up with these 3 rules to live by.
- Your ego ain't your amigo - When entrepreneurs hit the Million dollar mark in gross revenue, it's a dangerous place. The success builds the ego, the ego underestimates risk, and the risk breaks down the ego.
- Gross doesn't buy groceries - Tracking your gross revenue is almost pointless, because it's the profit the business generates that actually matters.
- It's OK to make a mistake ONCE - Every mistake should teach you a lesson, learn the lesson and create a rule to prevent yourself from repeating the mistake.
⏰ KEY MOMENTS ⏰
00:00 John Jackson - Lease Options / Rent to Own Houses
01:00 Joe McCall names John the King of Lease Options
03:20 John Jackson & Joe McCall & Naked-Investor.com
04:46 Lease Options Explained
06:02 Are Lease Options Legal in Texas?
07:43 Downloadable Free Real Estate Contract PDF
08:30 John Gets His First Lease Option Contract
12:34 Creative DIY Bandit Signs
14:07 Sandwich Lease Options Explained
15:02 #1 Person You DON'T Want to be in Real Estate
16:53 Don't Break the Rules of Real Estate
18:31 Roadmap for Scaling a Business
20:05 Russ Whitney's Real Estate Training Business
21:47 KPIs & Gross Doesn't Buy Groceries