There are many testimonies out there in the real estate investing world – testimonies of people who have created the life they want through the work they do in real estate. Brian Ellwood is one of those guys, and he is very articulate in describing how and why he’s done it. In this episode, Kent and Brian discuss the ways Brian built his business, what he’s done to automate and optimize it, why he hired key team members to free up his own time, and why the freedom real estate can provide is essential if you’re going to “own” your business.
Anyone who’s done anything significant in the real estate world knows that there are tons of things to do every single day. Your time gets sucked up by anything from the trivial to the vitally important and YOU have got to be the one who controls it. Brian Ellwood says he spent a lot of time and energy automating and optimizing his real estate investing company because he wanted to be in total control of what he used his time for, and he suggests everyone do the same thing. In this conversation, he and Kent talk about what it takes to really do it.
Recently, Brian Ellwood and his long-time partner mutually decided it was time to go their separate ways. It wasn’t a mean or petty separation, just a business decision. But it was facilitated easily because they had followed Kent’s advice long before they even established the partnership by creating a very clear partnership agreement that outlined what would happen should they ever decide to dissolve the partnership. In this episode, you’ll hear the benefits that came of it and how that agreement kept a good relationship good.
As you know, one of the highest values with Kent and his team is to teach people how they can take control of their lives by creating the cash flow that will set them free time-wise. Real Estate is the perfect vehicle with which to create that freedom. Brian Ellwood is a guy who’s taken Kent’s advice and doubled-down on it. He’s systematized and automated his business to the point that he doesn’t have to do anything if he doesn’t want to. And that’s the point. He does continue to work in and on his business, but because he loves it. The option to not do so is the freedom that indicates he’s reached his lifestyle goals. Kent and Brian spend a good amount of time discussing the importance of this freedom concept on this episode, so be sure you listen.
Kent and Brian both said they hire people to take care of routine things around their houses. Cutting the grass, taking care of the pool, cleaning, laundry – those are just some of the examples of what could be paid for that you normally would do yourself. Both guys know that many people would consider those expenditures a waste of money, but they believe they are doing the smartest thing with their time. Paying for those mundane services to be done frees them up to do things that matter more to them, things that bless their families or move their business forward. Time is the one thing we never get back once it’s gone, so be sure you listen to learn the importance of this point.
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