Latest / The Hannah Hammond Show / I Got Fired, Went Broke Now I Own $1B in Real Estate! The Truth About Wealth & Success | Brad Sumrok

Transcript

I Got Fired, Went Broke Now I Own $1B in Real Estate! The Truth About Wealth & Success | Brad Sumrok · The Hannah Hammond Show

• 0:00
  Imagine this, 14 years of corporate America, 2° hundreds
• 0:04
  of thousands of dollars of engineering school and MBA
• 0:07
  school working 9:00 to 6:00 for 14 years for somebody else.
• 0:11
  And within two years of doing apartments, of making more
• 0:15
  money. That's what got me to Texas.
• 0:17
  You know, as I, I got a job as an engineer, you know, it was,
• 0:20
  it wasn't a busy time. A lot of experienced people were
• 0:23
  getting laid off and, and I wasn't super busy.
• 0:25
  It was just a very deflating time for me.
• 0:28
  And so I decided that I wanted to do something else and
• 0:32
  transitioned out of that company and got a sales job, a technical
• 0:35
  sales job. Honestly, I love that job, but I
• 0:39
  wasn't making a lot of money. And so I remember talking to my
• 0:41
  boss and he's like, when you need an MBA, During my MBA
• 0:44
  school, I met people that were in software sales and they were
• 0:47
  making like 100,000 a year plus commissions.
• 0:50
  And so I got into that business and next thing you know, I'm
• 0:53
  like selling software. And I remember in that software
• 0:56
  sales job, I got a Commission check for 198,000 $1000.
• 1:01
  It was the biggest amount of money I ever had in my life.
• 1:03
  And six months later I got fired.
• 1:05
  And it was devastating for me. And so I'm like, what do I do
• 1:09
  now? And I saw this book called Rich
• 1:12
  Dad, Poor dad. And I just became immersed in
• 1:14
  it. And then I read the next book,
• 1:16
  the cash flow Quadrant with ESPI.
• 1:18
  And that book just changed my life.
• 1:20
  And that's how I got into the business.
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  I was 35. I remember getting like 4005
• 1:25
  thousand a month every month like clockwork.
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  And I'm like man, why didn't I start to sooner?
• 1:30
  All right, Well, I'm here today with Brad Sumrock, who I've
• 1:33
  actually been wanting to meet you for a while.
• 1:35
  I'm good friends with Winston, who I think was in one of your.
• 1:38
  Programs. Something like that.
• 1:39
  But Brad is a real estate mogul. He's done over a billion dollars
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  in real estate transactions in the apartment complex space over
• 1:46
  the years. He's helped his students
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  purchase over $7 billion of multifamily projects.
• 1:52
  He has bought over about 60 apartment complexes with over
• 1:58
  11,000 doors and has a / a billion dollars of assets under
• 2:03
  management right now. So these are huge numbers.
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  I mean, he's a multi millionaire.
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  He generates millions of dollars a year through his real estate
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  investments, has been able to really mitigate his taxes
• 2:14
  through the advantages that the government offers for real
• 2:16
  estate investments. And along the way through all
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  this, he's also been able to manage just having health too.
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  Like he's in great shape. He has a balanced life.
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  He loves to travel internationally and and spend
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  time with his friends and family.
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  So I'm super excited to have you here today and learn some of
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  like the challenges that you've gone through and are going
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  through currently throughout this journey of extreme success
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  and, and wealth building. And then also just some of the
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  lessons that you've learned and then your outlook on the market
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  as well in the multifamily space in particular.
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  So thanks for being here. Amazing.
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  I'm happy to be here, Anna. Thank you so much.
• 2:51
  So yeah, I'd love to hear your story.
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  And like kind of, I know you were an engineer and working in
• 2:56
  corporate America back in 2002 when you did your first real
• 2:58
  estate deal and then you retired from that 6 figure job with just
• 3:01
  a few years later. So what was kind of like a
• 3:04
  little bit of a background on your childhood?
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  Were you, did you come from money or, or what was that kind
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  of environment like that motivated you to be obviously
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  driven like a driven engineer and then getting into real
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  estate, which is similar to my background as well.
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  And then what, like inspired you to make that shift from
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  corporate America into something greater and getting into real
• 3:23
  estate investing? Yeah, it's, it's amazing.
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  Like I never in a, in a million years thought I would be doing
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  what I'm doing. So I, I didn't come from money.
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  I didn't have a silver spoon in my mouth.
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  It was like the opposite. Like I wasn't like like super
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  poor, but like, you know, I remember my mom telling me my
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  dad made 42,000 a year and he studied for three years and
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  never finished his degree. So like when, when when I was a
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  kid, I grew up in Pittsburgh and we would take vacations to Lake
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  Erie every summer and then maybe every now and then to like the
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  Jersey Shore of, you know, New Jersey.
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  And we would, my dad would pack us in a station wagon.
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  There was me and my two brothers and my sister and we would drive
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  in a car and go to a, you know, a beach close by.
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  And my dad's boss was an engineer and they were take and
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  he was flying his family at Hawaii.
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  And I and I heard that story so many times because my mom, as we
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  were driving to Lake Erie, which my mom called Drury Erie, my mom
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  would say she would literally lean over the back of the front
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  seat to us kids and say, you know, your father's boss is
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  taking his family at Hawaii on an airplane and we're going to
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  Drury Erie. And so it was just impressed
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  upon me how important it was to like study hard, get good
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  grades, go to college and get a job.
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  And so I didn't even know what an engineer did, but I knew I
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  was going to become one because I all I wanted was to have a
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  great life financially and take my family at Hawaii, you know,
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  So, so like, I was a good student, I studied hard, I got
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  good grades, I went to a good school and I became an engineer,
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  chemical engineer. And man, I'll never forget, like
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  after growing up in Pittsburgh, I got a job interview the week
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  after Thanksgiving in Houston, TX.
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  And they flew me there to interview me in my senior year
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  at the university. And I, I had never been to Texas
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  and I landed in Houston and it was 80° the week after
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  Thanksgiving and we just had our first snow in Pittsburgh.
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  And I'm like, if they offer me this job, I'm taking it.
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  And so they did. And I, I, that's what got me to
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  Texas. And as I, I got a job as an
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  engineer. And shortly afterwards, though,
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  I, you know, it was, it wasn't a busy time.
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  A lot of experienced people were getting laid off.
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  I was in a, a, an engineering company that was in the
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  designing chemical and, and oil refineries and, and I wasn't
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  super busy. So like, imagine you come out of
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  school and you're ready to go and slay the Dragons and make a
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  big impact. And for a couple of years, I, I
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  actually prayed they would lay me off so it would free myself
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  up to do something else. But they never did.
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  So they kept people on their staff in case they got work
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  coming in, but it was just, it was just a very deflating time
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  for me. And so I decided that I wanted
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  to do something else and transitioned out of that company
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  and got a sales job, a technical sales job.
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  And technical sales is basically like an engineer selling to
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  engineers, right? Because engineers could be very
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  logically and logical minded and they don't really like the
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  typical salesperson that if you could come in and understand
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  their, their language and speak their, you know, speak to them
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  in, in their own language and have credibility.
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  So I, I was a technical salesperson.
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  Honestly, I love that job. I love travelling, I love
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  working with people. But I wasn't making a lot of
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  money. And even though I was selling a
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  lot and I was in chemical sales, I was like one of the top sales
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  people in the company. I was making a base salary of
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  like 65,000 a year and had a company car.
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  And I was working for a big company called Union Carbide,
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  which is now owned by Dow Chemical.
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  And so they didn't have like these high paid Commission based
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  sales jobs. And so I wanted to move up in
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  corporate America. And so I remember talking to my
• 7:05
  boss and he's like, when you need an MBA.
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  And so they actually paid for me.
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  I did one of these executive MBA programs and they paid for me.
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  And I, I got the MBA and I went and remember sitting back down
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  with my boss and I'm like, well, well, now what do I do?
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  I have this MBA and I'm, you know, excited about progressing
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  with the company and, and now we were actually part of Dow
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  Chemical and he's like, well, you would need to move to
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  Midland, MI and, and be in our corporate headquarters.
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  And I'm thinking there's no way I am moving to like Midland, MI
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  Like it's cold there and it's a small town.
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  And so during my MBA school, I met people that were in software
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  sales and they were making like 100,000 a year plus commissions.
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  And so I got into that business and next thing you know, I'm
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  like selling software. In the meantime, my mom was
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  like, Oh my God, you started as an engineer and now you're a
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  salesperson. And that was like a downgrade
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  like in in my mom's eyes. And like, you know, all I ever
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  wanted in my life was for my mom to be proud of me.
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  And, you know, we didn't grow up in a in a home where we hugged
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  each other and where we told each other, I love you.
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  And, you know, my mom was an amazing mother, but it was more
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  like tough love. It was like you had to, you
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  know, get good grades and then I got a reward and I had to be a
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  good boy. And then I got, you know, I got
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  love and I got attention from being good.
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  And so IA whole part of most of my life was about like, how do I
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  make my mom proud of me? And, and, and I remember in that
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  software sales job, I got a Commission check my second year
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  for $198,000. It was the biggest amount of
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  money I ever had in my life. And six months later I got
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  fired, not laid off. I actually got fired because I
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  didn't have a pipeline. Like I'd spent two years,
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  Hannah, trying to close this deal with, with a big company.
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  And when I closed that deal, it was the biggest deal in company
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  history. And in less than six months
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  later, I was axe. I was fired because I had
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  nothing in my pipeline. And they're like, Brad, we're
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  paying you a base salary and we don't see you bringing in any
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  sales for like the next year. And it was devastating for me,
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  like devastating to, to go from like top of the world and get
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  like almost a $200,000 check. And so I'm like, what do I do
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  now? So I'm in like my early 30s and,
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  and all I knew Hannah was like, if I want to succeed, I have to
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  go to school. And so I actually started, I
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  actually studied for the LSAT and I'm thinking I'm going to go
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  back and, and get another degree and I'll become a lawyer.
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  And this was in the year 2000. And so I'm studying for the
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  LSAT. And then back in the day, you
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  might be too young to do they still have like bookstores?
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  Do they have like Barnes and Noble and Borders?
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  Well, when in the year 2000, like before Amazon and all the
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  Audible books and stuff, like in Houston, TX on a hot summer day,
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  I would go to bookstores in the summer and, and walk around and,
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  and, and look at the books and magazines and sip of coffee.
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  And I saw this book called Rich Dad, Poor dad.
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  And I picked it up and I started reading it and I just became
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  immersed in it. And I at first I was like
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  excited and pissed at the same time because I'm like, Oh my
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  God, this is amazing. And I'm like, why didn't anybody
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  teach me this stuff? And then I read the next book,
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  the cash flow quadrant with ESPI, you know, employee,
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  self-employed business owner, investor.
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  And I know, you know, Robert and so do I.
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  And that book just changed my life.
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  And, and I remember things like like it was yesterday, like I
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  remember reading like formal education will get you a job and
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  self education, you know, well can make you a fortune.
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  So I started seeking out like, how do I become a business owner
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  and investor? And I remember in Kiyosaki's
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  books, he's like the two best businesses to get into with the
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  lowest barrier to entry is either network marketing or real
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  estate. And I don't know about you, but
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  like, I went to these network marketing parties and I'm like
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  this, this doesn't resonate with me.
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  And so I started looking at in Houston, TX and I started
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  looking up real estate investing workshops and seminars and, and
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  that's how I got into the business.
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  I was 35 and, and I went to this two day seminar and the first
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  day taught single family investing and I went home and I
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  wrote out my goals and I was earning 10,000 a month in
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  corporate America. And and my goal according to
• 11:32
  rich dad, poor dad, right, was if you could get investment
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  income equal to your earned income, then you can quit your
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  job and get out of the rat race. And so I wrote down and I said
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  I'm going to buy 40 single family homes in three years,
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  make 10,000 a month cash flow and quit my job.
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  Day 2. They talked about multi family
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  investing and, and the guy teaching the class said, look,
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  if you have more than like 100,000, you could skip single
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  family and go right into small multi units.
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  And so I, I ripped up my goals to buy 40 single family homes
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  and I said I'm going right into multifamily because you
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  remember, I got that $198,000 Commission check and I'm like,
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  I'm going to go right into multifamily and I'm going to buy
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  as many doors as I can with my own money and quit my job.
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  So that's how I started. I know that was long, but I'm
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  like, I, I get excited about it. Like I can't stop talking about
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  it 'cause it's like I remember it was yesterday and it was so
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  transformational and, and it just feels surreal, you know?
• 12:31
  Yeah, I love it. I mean, and I love hearing the
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  story. I rich dad, poor dad is almost
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  every single real estate person's, you know, answer to
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  how they started to learn about real estate and entrepreneurship
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  and things like that. So it's absolutely incredible.
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  OK, cool. So you, you ended up quitting
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  your job. You were able to replace your
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  income pretty quickly. Yeah, so my, my goal was to get
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  10,000 a month in five years. And, and my first building that
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  I bought, by the way, it wasn't a duplex, a fourplex, an
• 13:00
  eightplex. You know, back then pricing was
• 13:02
  a lot different. And I bought 32 doors for just
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  under $1,000,000. And, and back then you were able
• 13:09
  to get an 80% loan. Guess what the interest rate
• 13:12
  was? This was in 2002.
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  You want to guess what the interest rate was?
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  People think rates are high right now. 910%.
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  Well, it wasn't that high, but it was 6.3%.
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  And guess what rates are right now?
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  Like in right now in 2025, if you'd go out and get a multi
• 13:27
  family loan, it would be around in the low 6 percents, you know,
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  maybe a little less, maybe a little higher.
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  And so people think the rates are so high, but historically
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  they're not. And and my, so my first deal I
• 13:38
  got a, a loan of around 800,000. I put 200 down and this thing
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  just cash flowed like clockwork like each and every month.
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  I remember getting like and I still had a job and and I
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  remember getting like 4000 a month, 3004 thousand 5000 a
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  month every month like clockwork.
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  And I'm like, man, why didn't I start to sooner?
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  And I was still working. So now I'm saving my money
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  because I have this vision to buy as many doors as I can.
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  And so that was my first deal was 32 units.
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  My second deal was 30 units and I also bought with my own money.
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  So now I have 62 units, I'm making about 7 or 8 grand a
• 14:14
  month. And you know, my, my income from
• 14:17
  my job is 10, but with taxes like I'm only bringing home like
• 14:22
  6 or 7000 a month. So like I'm actually making more
• 14:25
  now with 62 doors than I was. Imagine this, 14 years of
• 14:31
  corporate America, 2° hundreds of thousands of dollars of
• 14:35
  engineering school and MBA school working 9:00 to 6:00 for
• 14:40
  14 years for somebody else. And within two years of doing
• 14:43
  apartments of making more money than I was after all this
• 14:49
  schooling and all this time and all this energy.
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  So I knew that was the ticket. And then the the other big
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  transformation happened is I have 62 doors, but I don't have
• 15:00
  any money in the bank because all my money's tied up in 62
• 15:03
  doors and they're cash flowing. But a broker brings me a 250
• 15:08
  unit deal and I'm thinking I don't have the money to buy
• 15:11
  this. And I heard about people, I
• 15:14
  heard of this term syndication. And honestly, I never knew what
• 15:17
  it was like. I didn't know what syndication
• 15:20
  meant. And, and I heard of it and the
• 15:24
  broker even said, Hey, look like you don't have to have all the
• 15:27
  money yourself. Like if if you could lead the
• 15:30
  deal and raise the money like you have experience in a track
• 15:33
  record. So you know, when I went to that
• 15:36
  seminar and joined their mentorship program, which I did,
• 15:39
  they would do like monthly in person networking events.
• 15:43
  And so the whole time I have these 62 units, 32 and then 62
• 15:47
  every month I would show up. I would show up and I would just
• 15:50
  share my story with people. And people would be like, Brad,
• 15:53
  if you find a deal, I'll put money in with you.
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  So next thing you know, two years later, I have this 250
• 15:59
  unit deal and I have no money of my own to put in.
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  And I was able to pull together 27 investors.
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  I get $2,000,000 from 27 people. And I bought my, my third deal
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  was a 250 unit deal. And what I learned Hannah, was
• 16:18
  easier. The lenders wanted to loan me
• 16:22
  more money. The management companies don't
• 16:25
  want to take your 30 unit. They want your 250 unit.
• 16:29
  It was less work for me on my 32 and 62 units.
• 16:32
  I'm doing all the books. I'm going to the properties.
• 16:34
  I'm the boots on the ground. I'm I'm basically like the asset
• 16:38
  manager, the property manager. I had a skeleton staff.
• 16:41
  You don't really have a lot of cash flow to, but to have like a
• 16:44
  full time manager and maintenance person with 32 units
• 16:46
  or even 60 units, but with 250. I have the management company,
• 16:51
  they're doing all my books and accounting.
• 16:53
  I have a property manager, a leasing agent, a lead
• 16:56
  maintenance person, a a secondary maintenance person, a
• 16:59
  groundskeeper. There's a whole staff and then
• 17:02
  their whole back office like doing monthly reports, income
• 17:05
  statements, cash flow statements, balance sheets,
• 17:07
  general ledgers. Like every month I'm getting all
• 17:09
  these reports and I'm like, Oh my God, like this is so much
• 17:13
  easier then like so, so now what I do and I've, you know, since
• 17:18
  then I've done like you mentioned in the beginning, over
• 17:20
  11,000 units, mostly as a general partner.
• 17:24
  And I buy only like 100 units and up.
• 17:26
  And I hire professional management and it and it's being
• 17:29
  like, I'm truly in that category of when you look at ESBI, like
• 17:35
  now I'm a business owner and investor.
• 17:37
  I'm not self-employed. I'm not knocking on doors, I'm
• 17:40
  not collecting rents, I'm not doing my own evictions, not
• 17:43
  doing my own bookkeeping and accounting.
• 17:45
  But I'm overseeing it like as a, as a, you know, keeping my eyes
• 17:51
  on the ball and looking at the reports the management company
• 17:54
  sends to me. And then I intervene when when
• 17:57
  necessary. But I let them do the
• 17:59
  day-to-day. Yeah.
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  And it's, it's, it's, it's the best way I've ever learned to
• 18:06
  like, build wealth, have cash flow.
• 18:09
  Oh, and I haven't paid taxes in five years.
• 18:12
  That's the best part. So, like, it's crazy.
• 18:15
  Yeah. Yeah, I know.
• 18:16
  Being a real estate professional, being able to do
• 18:17
  cost segregation is I mean, the miracle of I don't know how
• 18:21
  anybody lives life and isn't a real estate professional,
• 18:23
  honestly, but that's amazing. I, I multi families would always
• 18:28
  call to me too. And that's what led me to
• 18:30
  becoming a commercial real estate broker and wanting to get
• 18:32
  into commercial real estate. And so I've had my finger on the
• 18:35
  pulse pretty good in in the multi family space, but recently
• 18:40
  started doing like storage facilities and mobile home parks
• 18:42
  and some of that asset class too, everything of which over
• 18:45
  the past two years has been a challenge was with the I want to
• 18:49
  ask your opinion on this because for me, I've seen it be a
• 18:51
  challenge with transaction volume down, especially in the
• 18:54
  multifamily space. You know, these properties,
• 18:57
  these a lot of syndicators came into the markets and fund
• 19:01
  managers and we're buying multifamily projects on 2%
• 19:05
  interest rates and projecting double digit annual rent
• 19:09
  increases and very low vacancies and things like this.
• 19:12
  And then as this, these interest rates have gone up from 2 or 3%
• 19:15
  to you know, 5 to 8%. A lot of these rate caps are
• 19:20
  expiring, which is different than the residential space for
• 19:23
  those who don't know. And commercial usually the rates
• 19:26
  are not normally fixed for like 30 years like you would see in
• 19:29
  the residential purchase. So what has been like your
• 19:33
  experience in your business, You have so many students you you
• 19:36
  invest in your own assets and tons of investors.
• 19:40
  Have you still been able to, I know you have a history of
• 19:42
  double digit annual returns. So have you still been able to
• 19:44
  find deals and still make really good returns or has it been a
• 19:51
  struggle for you as well? And do you see like blood in the
• 19:54
  water coming in the commercial multifamily space or do you
• 19:57
  think it's still going to be pretty stable and they'll just
• 19:59
  be some deals here and there? Well, the answer to all that is
• 20:03
  yes and no, so let me go through it.
• 20:04
  So the last two years have been arguably the most.
• 20:08
  I've been doing this for 22 years, both both as a multi
• 20:11
  family investor and syndicator and then for over a decade as a
• 20:15
  multi family coach and mentor to, you know, thousands of
• 20:19
  people. And the only time I could equate
• 20:22
  to this was like back in like O 9 and 10.
• 20:25
  And I've had the call it the the been fortunate or unfortunate
• 20:30
  that I've been around that long. So I remember what 2009 and 10
• 20:34
  and 11 were like and they were really tough.
• 20:37
  And the difference is back then I only had like 1000 doors over
• 20:41
  a couple properties. And so I wasn't as exposed, but
• 20:45
  then arguably if you could say like what based on my total
• 20:48
  assets and net worth, I probably was equally exposed, right.
• 20:53
  But now I'm in like 37 deals and most of my assets are in
• 20:57
  multifamily. I have, I have assets outside of
• 21:00
  multifamily as well, but the last two years have been really
• 21:03
  challenging and you hit on a lot of things.
• 21:05
  So yeah, the variable rate loans like, and, and this is not
• 21:09
  unique to me or to like some rock community.
• 21:12
  It's, it's across the board. So I, for example, one of my
• 21:15
  mentors has like 30,000 doors and he just did his 2024 end of
• 21:21
  year recap and his forecast for 2025 and he's got, you know,
• 21:26
  29,000 units. And So what he said, and that's
• 21:29
  similar, what I'm experiencing in my own portfolio and what I
• 21:32
  see with my students that I coach is that pretty much
• 21:36
  anything that was purchased before the middle of 2021, with
• 21:41
  maybe a few exceptions, is going to meet those projected returns.
• 21:47
  Like because that's when, you know, pricing was still
• 21:51
  reasonable, cap rates weren't as low, debt was available.
• 21:58
  And and even if you have a variable rate loan, like if you
• 22:02
  could get through this downturn, like these properties are going
• 22:05
  to meet or exceed projected returns for the most part.
• 22:09
  And then anything that was bought, say like mid 23 until
• 22:12
  now, you know, prices have adjusted, you know, cap rates
• 22:17
  came back up, that is adjusted. Everything is a little bit more
• 22:20
  stabilized again, but anything that was bought say within this
• 22:24
  mid to mid 2021 to mid 2023, in spite of like best intentions,
• 22:32
  best operations, best performance have been kind of
• 22:36
  hit like with the shift in the market.
• 22:39
  And, and so I'm in some deals, as are some of my students, as
• 22:43
  are some of the biggest and best institutional investors in the
• 22:46
  country where they projected like, look, a good deal is like
• 22:50
  double your money in five years, double digit returns like for
• 22:53
  the LP's, the passive investors. And, and there's probably a two
• 22:58
  year window of say anything from the end of 21 to mid 2023 that's
• 23:03
  probably not going to hit those numbers.
• 23:06
  And unfortunately some people will lose money in these deals.
• 23:10
  And I think for the most part though, if it's in a good market
• 23:13
  with good operations and, you know, keeping an eye on the
• 23:17
  ball, we could still make some of these deals successful, but
• 23:21
  maybe not to what was projected. Meaning like, you know, hey, we
• 23:25
  bought this deal in 2022 and we were going to double our money
• 23:27
  in four years and everyone was going to get a 20% IRR or a 20%
• 23:31
  average annualized return with cash flow and capital gains.
• 23:35
  And now we're looking at maybe, you know, 12%, you know, maybe
• 23:39
  instead of doubling your money, you might, you know, get a 1.5 X
• 23:43
  return on your money. So that's what a lot of people
• 23:46
  are looking at with deals that were purchased in that time
• 23:50
  frame. And, and I'm not unique to that.
• 23:53
  And, and that's kind of the reality.
• 23:55
  And So what that did, Hannah, though, is it it, it jaded
• 23:58
  people that got into the business in the last few years.
• 24:01
  Like they got into the business with the hopes of, you know, the
• 24:07
  last decade from 2012 when we came out of the last great
• 24:10
  financial crisis to 2022, almost everything like exceeded
• 24:15
  projections. Like people made so much money.
• 24:18
  And like, we would do the same underwriting and the same
• 24:20
  projections and, and we would project deals to double money in
• 24:23
  five years or less or just say in five years.
• 24:26
  And a lot of deals were 3X ING and 4X ING their money.
• 24:29
  And so people got spoiled and people got used of having
• 24:32
  returns above the projected numbers.
• 24:36
  And now that we're in this cycle, and that's what it is.
• 24:38
  It's a market cycle. Like, look, I've studied with
• 24:41
  Tony Robbins and his financial conferences where every year he
• 24:46
  brings in seven billionaires. And you know, from the Ray
• 24:49
  Dalio's to the Paul Tudor Jones's of the world and, and,
• 24:53
  and sophisticated investors understand market cycles, but
• 24:57
  when it's happening, like nobody likes it.
• 25:00
  And, and then some people were like, well, multi family's not a
• 25:03
  good investment. And the truth is over the last
• 25:06
  22 years, it's been a phenomenal investment over the long term.
• 25:09
  But there's, there have been in, in my 22 years, there was a two
• 25:15
  or three-year period in 2008, 2009, 10118 and now this
• 25:21
  2022-2023 period where there's been a lot of challenges.
• 25:25
  But the good news is like, like everything that I've seen, and
• 25:30
  I'm a student of the game. I read all the reports.
• 25:32
  I read all the CBRE reports, the Marcus and Milichap reports, the
• 25:35
  Walker Dunlap reports, all the reports. the Fed like interest
• 25:40
  rates have stabilized, cap capital markets are stabilized.
• 25:43
  We're not going to see seven rate cuts in 2025.
• 25:45
  Interest rates aren't going to go back down to 3 or 4%.
• 25:48
  But they've stabilized and cap rates are stabilizing and they
• 25:51
  should gradually come down a little bit.
• 25:54
  And So what that means is plus we have a new president and you
• 25:58
  know, I'm personally a supporter of his business policies.
• 26:02
  And what we're looking at now that Johnson has just been
• 26:05
  reconfirmed is like the speaker of the House is one of the
• 26:08
  things that one of the first things they're going to try to
• 26:09
  do is make this 20/20/2017 tax cuts permanent.
• 26:15
  And what that means is we should be coming back to the days of
• 26:18
  100% bonus depreciation and all the the two years where we were
• 26:24
  in a 60% and 80% bonus depreciation could actually be
• 26:27
  retroactive. And I don't know if you had him
• 26:29
  on your show, but he's a good friend of mine and he's my
• 26:31
  personal accountant and CPA and speaks at a lot of my
• 26:34
  conferences is Tom Wheelwright, who's also like Kiyosaki's
• 26:38
  advisor. And he's right here in, in, in,
• 26:42
  in Phoenix. You, I don't know if you've had
• 26:43
  him on yourself. Yeah, he'd be, he'd be amazing.
• 26:46
  But like, you know, we, we could actually be going back and
• 26:49
  amending our 2023 and 2022 tax returns to have 100% bonus
• 26:55
  depreciation instead of 80% in 2022 and 60% in 2023.
• 27:00
  So like there's a lot of optimism coming right now and
• 27:04
  we're seeing like, you know, values bottom out, cap rates,
• 27:08
  you know, Max out and, and things should be improving.
• 27:12
  So like people that haven't been in the business, now is a great
• 27:15
  time to get in the business and people that have been in the
• 27:18
  business, it could be a time to say, hey, like I'm going to try
• 27:21
  to recover some of my, you know, I had some expectations of
• 27:26
  getting these projections, but like right now to me, like I
• 27:30
  have pencils up. I'm making offers on deals and
• 27:32
  I'm excited about 2025 and 2026. Awesome.
• 27:36
  Yeah, I love the outlook and yeah, I'm, I'm with you.
• 27:38
  I mean, cost segregation is so amazing and the voters
• 27:41
  depreciation. And for those of you watching
• 27:43
  who may or may not be real estate investors, if you can, if
• 27:47
  you are classified as a real estate professional, which could
• 27:49
  be a whole array of businesses, whether you have Airbnbs that
• 27:52
  you manage or whether you're a real estate agent or a real
• 27:54
  estate investor, You can accelerate the depreciation of
• 27:59
  the asset and write off a large amount of money against your
• 28:03
  earned income from all your earned income, not just your,
• 28:06
  your rental prop. You know your rental income.
• 28:09
  And it can pretty much if you do it correctly and buy enough real
• 28:12
  estate, it can pretty much wipe out your tax liability
• 28:15
  completely, which will allow you to compound your wealth so much
• 28:20
  faster. Because think if you're able to
• 28:21
  invest almost 50% more money every single year, plug that in
• 28:26
  a compound calculator and you're going to build wealth a lot
• 28:28
  quicker. So.
• 28:29
  Well, and I'm so glad you mentioned that because if I look
• 28:31
  at the trajectory of My Portfolio and my wealth,
• 28:36
  honestly like so I started multi family in 20 in 2002 and it took
• 28:43
  me to 2012 to get to my first 1000 doors and then from 2000.
• 28:50
  So I went from zero to 1000 in a decade.
• 28:54
  And that sounds amazing to some people.
• 28:56
  Like for people that are new and they be like, wow, that's
• 28:59
  amazing. I love to do that, but my
• 29:01
  message there is like as a mentor, I've helped people do
• 29:04
  that in like one or two years because like once you learn how
• 29:07
  to do it and then you could guide somebody else through the,
• 29:10
  the steps, people could go so much faster.
• 29:14
  But the, the, the amazing thing is from 2012 to 2022, I went
• 29:19
  from 1000 doors to 11,000 doors is a is AGP.
• 29:23
  And I don't want to be, you know, people talk about how many
• 29:25
  doors they own and you see people saying, Oh, I have 10,000
• 29:28
  doors. And what they really mean is,
• 29:30
  well, they could be an LP with 1% ownership interest in 10,000
• 29:34
  doors. But like for me, I'm AGP in most
• 29:36
  of my deals, but that doesn't mean I own all of the properties
• 29:39
  myself. It means that I have an
• 29:42
  interest, you know, an interest in these properties above and
• 29:47
  beyond my capital investment. And so, and I'm one of the
• 29:50
  managing partners, one of the managing members in over 11,000
• 29:54
  units. But the, the growth is not
• 29:57
  linear in this business. It's exponential.
• 29:59
  And then the more money you make and the more money you reinvest,
• 30:02
  like with the tax savings. And, and that's what I would do.
• 30:05
  I would put more and more money into these properties and get
• 30:08
  more and more depreciation and then invest that money and then
• 30:12
  invest the earned income from my mentoring business into
• 30:15
  multifamily buildings. And so I'd be making money from
• 30:18
  like my events, my mentorship, my masterminds, and that's all
• 30:22
  earned income tax at the highest tax bracket.
• 30:25
  But I would take that money and pretty much invest it into multi
• 30:29
  family buildings. And so I'm not paying taxes on
• 30:32
  the earned income. And it's allowing me to acquire
• 30:35
  more assets that pay for my liabilities.
• 30:38
  Yeah. Beautiful.
• 30:40
  That's what we're trying to teach everyone.
• 30:42
  And yeah, it's, it's, I mean, I think everybody, no matter
• 30:46
  whether they have a regular job, work in corporate America,
• 30:49
  anything, they need to be investing in real estate and
• 30:52
  using that to build wealth and help with taxes.
• 30:54
  So for for sure, yeah. So looking back, I mean, you've
• 30:59
  you've you've accumulated immense wealth and success.
• 31:04
  And I know with that comes great challenges.
• 31:07
  And I want to hear a little bit of what the biggest challenge or
• 31:11
  challenges that you faced throughout this journey of
• 31:14
  achieving incredible wealth and success and what you have done
• 31:18
  or are doing to overcome them. Well, look, that's, that's a
• 31:22
  great question. And 1st I just want to say that
• 31:24
  like I have a blessed life. Like if I had 50, you know,
• 31:29
  someone asked me and I've had a lot of challenges, especially
• 31:32
  the last few years. But someone asked me, Brad, if,
• 31:35
  if, if, if life was like a deck of cards and there's 52 cards in
• 31:40
  a deck and you got the card that you got and had the life that
• 31:44
  you've had so far, would you be willing to give that card back
• 31:48
  and draw another card? And the answer is no.
• 31:54
  Like I would not be willing to. Because think about like, you
• 31:58
  know, you think about now I'm going to shift here.
• 32:00
  But you think about people that, you know, were born with, you
• 32:05
  know, no arms or no legs. You know, it's like I, I saw
• 32:08
  this thing the other day that said, you know, the billionaire
• 32:11
  with the private jet thinks about the good old days.
• 32:14
  You know, the millionaire thinks about having the private jet.
• 32:18
  You know, the, the guy making 100,000 a year thinks about
• 32:21
  being, you know, a millionaire. And the guy that's driving the
• 32:25
  Mercedes wants the Ferrari. And the guy that has the Ford
• 32:27
  wants the Mercedes. And then the guy that has the,
• 32:31
  you know, doesn't have a job. All he wants is is to have a job
• 32:34
  and so he can buy a Ford. And the guy that has the
• 32:37
  wheelchair wants to get out of the wheelchair, you know, and
• 32:41
  then the, the guy or the person in a developing country that
• 32:45
  doesn't have mobility, all they want is a wheelchair so they can
• 32:48
  move around. And the guy that has no arms or
• 32:51
  legs, all they would love to would, would be to have like
• 32:54
  arms and legs. And, and it wasn't exactly that.
• 32:58
  But the point is, is like, we all think that there's some next
• 33:02
  level that's going to make us happy and it's going to fulfill
• 33:05
  us. And, and my message is, is it
• 33:09
  won't like, you know, I, I went from making, you know, my first
• 33:16
  job was 33,000 a year, you know, as an engineer.
• 33:20
  And I thought one day that if I can make 100,000 a year, that
• 33:23
  would be Nirvana. And I remember making 100,000 a
• 33:27
  year. And I was, I felt like I was
• 33:28
  barely getting by because I was keeping up with the Joneses and
• 33:31
  I bought a house and I had a car and I wanted to travel, you
• 33:35
  know, and I got my passport. I didn't have a passport until I
• 33:38
  was 30. And, and, and now, like
• 33:40
  international travel and experiencing the world and
• 33:43
  different cultures is like one of my favorite things to do.
• 33:47
  But for so many years, Hannah, like I was pursuing like trying
• 33:52
  to fill this void, you know, whether it was in like, you
• 33:56
  know, I don't do drugs, never did drugs.
• 34:02
  But like filling that void of like having a good meal, having
• 34:06
  a bottle of wine, having a, you know, if I have a stressful day,
• 34:09
  I'd have a glass of wine. If I had an amazing day, I'd
• 34:12
  have a glass of wine, right? Or an amazing meal or book that
• 34:15
  trip or buy that car or like go to Louis Vuitton and buy
• 34:18
  something nice. And you know what, you know how
• 34:21
  long it lasts, It lasts for, you know, maybe you go on an amazing
• 34:27
  trip. Maybe you know, the anticipation
• 34:30
  is, is there and then you go on that trip and then it lasts
• 34:33
  maybe six weeks or you go shopping and you buy that cool
• 34:37
  pair of sneakers or backpack and maybe that's lasted 6 days or
• 34:41
  you buy that Ferrari or that Lambo.
• 34:43
  And how long does that last? Now, honestly, when I get in the
• 34:45
  Ferrari like and I turn them on and I'm driving around like it,
• 34:49
  it does feel good. But it's, it's not, it's not
• 34:52
  permanent. Like it's not permanent.
• 34:55
  And so where I'm going with this is like the last two years have
• 35:00
  been really, really challenging. You know, the market shifted,
• 35:04
  the the transaction volume went way down, the cost of debt went
• 35:08
  way up. And it wasn't just in these
• 35:10
  variable rate loans, Hannah, like there's, there I have deals
• 35:13
  that have fixed rate debt and everybody thinks that's the
• 35:15
  variable rate debt and that's just one of the factors.
• 35:17
  But like, I have deals with fixed rate debt that have
• 35:20
  suffered because taxes went up, insurance went up.
• 35:23
  You know, there was this whole depending on what you believe
• 35:26
  about the pandemic and people being paid to stay home and the
• 35:30
  government, you know, printing, putting $5 trillion of money
• 35:33
  into our into our system, right? And and like it at some point,
• 35:38
  there's a day of reckoning for that and inflation happened.
• 35:42
  And so a lot of things happened and, you know, only in my
• 35:48
  wildest dreams could I have ever imagined to be like a national
• 35:51
  media. And I for 20 years did so much
• 35:54
  good work and help so many people and nobody really cared.
• 36:00
  And then when things turned and I had, you know, there was one,
• 36:04
  you know, infamous student of mine that, that, that was in my
• 36:08
  mentoring and mastermind program.
• 36:10
  And then he went out and got over his skis and I didn't coach
• 36:13
  him to do that, but he went out and did it and lost a bunch of
• 36:16
  money and, and that made the Wall Street Journal.
• 36:19
  And then they, you know, media started wondering who's this
• 36:23
  Brad Sumrock eye? And then, of course, next thing
• 36:25
  you know, people were looking at me is like, like I was written
• 36:28
  up by 1 media is like a used car salesman.
• 36:32
  And it's like, it's, it's, it's depressing.
• 36:35
  And you know, I lost a lot of sleep over that, you know, and I
• 36:38
  went through a lot of changes in my personal life.
• 36:40
  And, and I can just say the last couple years I've had a lot of
• 36:43
  anxiety. I've had symptoms of depression.
• 36:46
  I've had symptoms of a, of imposter syndrome that like,
• 36:50
  hey, do I still matter? Do I, you know, is, is what I do
• 36:54
  still impacting people? And for 20 years, like we
• 36:57
  changed so many people's life, like 10s of thousands, not just
• 37:00
  people that I mentor, but their families and their grandkids and
• 37:03
  their, the legacies leaving for their, you know, their, their
• 37:07
  generation after generation. You hear about generational
• 37:10
  wealth and, and, and all of a sudden the last two years it's,
• 37:15
  it's just been focused on all the negatives and all the
• 37:18
  challenges that people are having.
• 37:20
  And, and so, you know, what happened is like, I like I could
• 37:25
  finally sleep at night, you know, but I remember going
• 37:28
  through times of like not being able to sleep at night and
• 37:31
  worrying about so many things and overeating and overdrinking
• 37:36
  and, and, and it took a lot to like pull myself through that
• 37:41
  because like for 55 years of my life, I never really experienced
• 37:44
  like, you know, major, major challenges.
• 37:48
  Like, thank God I have my health.
• 37:50
  I've never spent a day in a hospital, you know, but all of a
• 37:54
  sudden, like when you when you have one challenge after
• 37:59
  another, Tony Robbins thought calls it stacking.
• 38:02
  You know, it's like when your investments aren't performing
• 38:05
  well and maybe your business is performing not as well as it
• 38:08
  used to. And then you have challenges in
• 38:10
  your personal life and then you have people attacking you.
• 38:13
  And then, you know, for the first time you have haters and
• 38:16
  and then you have, you know, negative media attention.
• 38:20
  It could be overwhelming. And so all that has been going
• 38:23
  on the last couple years. But what it's what it's done for
• 38:26
  me and it's, it's given me a different, you know, view of
• 38:30
  what really matters. And it's not like the car and
• 38:33
  the jet in the house, in the Ferrari.
• 38:35
  It's like, you know, and what I'm really learning at this
• 38:39
  stage of my life is like what it really means to, to love
• 38:44
  yourself, you know, and what it really means to, you know, what
• 38:48
  matters the most in life. So like right now, on this day,
• 38:52
  which is January 6th of 2025, like I'm going 90 days without
• 38:57
  alcohol. I'm doing like a modified
• 38:59
  version of 75 hard, 90 days no alcohol and 90 days no shopping
• 39:05
  now, like I don't mean like food shopping or toothpaste shopping,
• 39:08
  but like 90 days of like I'm not buying myself anything.
• 39:12
  Like I have a closet full of stuff and that stuff doesn't
• 39:16
  fulfill me anymore. So like my old habits were like,
• 39:20
  hey, if I, if I had a bad day or if I had a great day, I'm going
• 39:24
  to celebrate. I'm going to overindulge with
• 39:26
  food and champagne or wine. Or maybe if I had a great day,
• 39:30
  I'm going to go buy myself something.
• 39:31
  If I had a bad day, I'm going to go buy myself something.
• 39:34
  Either way, it was like, hey, it was making me feel good that it
• 39:37
  really, really was like this. This short term dopamine hit
• 39:40
  that like at the end of the day doesn't really matter.
• 39:45
  Yep, yeah. And I think I'm in the genius
• 39:48
  network with Joe Polish and he says the opposite of addiction
• 39:51
  is connection and that addiction is a is a connection disorder.
• 39:55
  And when we don't feel connected to ourselves then, and this is
• 40:00
  very common in entrepreneurs and that need to be successful and
• 40:04
  that need to. Prove our worth or make
• 40:07
  ourselves feel valuable or loved.
• 40:09
  You know, for me, I struggle severely with addiction my whole
• 40:13
  life from work addiction, money addiction, relationship
• 40:15
  addiction, food addiction, like everything, right?
• 40:18
  And then I realized the same thing as the more I
• 40:21
  accomplished. I was that kid that just wanted
• 40:23
  the 100,000, then I had the 100,000, then I wanted the
• 40:25
  million, then I became a millionaire, then I wanted the
• 40:27
  jet, you know, and then I realized I'm just as miserable
• 40:30
  as I've always been no matter what.
• 40:33
  And it's just high after high after high.
• 40:35
  Like, what's the next hit I can get?
• 40:37
  And it's such an unsettling feeling to feel like you don't
• 40:43
  really have anything and you really aren't fulfilled and
• 40:45
  happy and you're just trying to fill this Swiss cheese inside of
• 40:48
  you all these holes. And yeah, so I appreciate you
• 40:52
  sharing that because it is real. And so many people, they're just
• 40:58
  on to the next high to get the next hit because they what they
• 41:02
  thought would satisfy them doesn't satisfy them for long,
• 41:05
  that they spend their whole life just chasing the next high and
• 41:09
  just going for the the next million or getting the newest
• 41:13
  car or buying the next Louis Vuitton bag or whatever.
• 41:16
  Right. And so that's what sparked me to
• 41:20
  turn inward and be like, I don't want to be that person on their
• 41:22
  grave. That's like, Oh well, there's no
• 41:24
  more high now. I want to actually be fulfilled
• 41:27
  and enjoy what I have built and the life that I have and the
• 41:30
  relationships that I have and, and be healthy and whole.
• 41:34
  And a big part of that journey I've been on has been a lot of
• 41:37
  therapy, a lot of plant medicine, a lot of meditation
• 41:41
  and prioritizing all of these practices and health above
• 41:46
  prioritizing my business, which was a huge shift.
• 41:49
  And so, and I know we talked a little bit offline, not much and
• 41:53
  I don't know much, but like, can you share kind of about this
• 41:55
  healing journey? I know you've been through so
• 41:57
  much turmoil and a lot of self reflection, especially during
• 42:01
  these really difficult past couple years.
• 42:03
  Like what are some of the steps that you are taking or have
• 42:06
  taken that have helped you realize that and maybe start to
• 42:10
  change some things to actually be fulfilled and happy, you
• 42:14
  know, grounded inside of you rather than just happy for those
• 42:17
  those dopamine hits. Yeah, well, one is like just,
• 42:21
  you know, breaking these when, you know, call them addictive
• 42:24
  habits. Like if you would even told me
• 42:26
  last year, like, you know, someone was like, hey, Brad, do
• 42:30
  you want to go on a healing journey?
• 42:31
  And I'm like, I don't need to heal.
• 42:33
  You know, if someone would ask me if I'm happy, I would have
• 42:36
  been like, yeah, I'm freaking happy.
• 42:38
  But like my voice would have been what I realized.
• 42:40
  And I've I've done a lot of work with Tony Robbins.
• 42:42
  He's one of my mentors and I've been one of his masterminds for
• 42:46
  many years. And, and what I realized is like
• 42:50
  I, I always consider myself a happy person, but I would say,
• 42:54
  yeah, I'm happy in general. But right now, like the emotion
• 42:58
  I'm experiencing and, and, and right now being like
• 43:01
  consistently was more like the need to achieve something, a
• 43:08
  feeling of not being enough, a feeling of frustration or
• 43:14
  impatience or, and then it would show up as anger and then it
• 43:19
  would crazy aid into, you know, anger to sadness.
• 43:24
  And I realized like I'm spending a lot of my waking hours.
• 43:28
  And even though I would say, yeah, in general, I'm a happy
• 43:31
  person because I have so much to be grateful for and I've
• 43:33
  achieved so much. But my consistent emotional
• 43:37
  state was not what I would call in a beautiful state.
• 43:40
  It was usually in a more state of like frustration, you know,
• 43:45
  not not like terrible anger or terrible anxiety or terrible
• 43:49
  depression that I just found myself more in this state of
• 43:52
  frustration. And when I started opening up
• 43:55
  and sharing that and I found, and I've opened up to a lot of
• 43:58
  men specifically, but a lot of men are in that situation.
• 44:04
  You know, it's there's a, a term that I've heard called the
• 44:06
  achievers curse. And, you know, and I'm, I'm not
• 44:10
  saying it's unique to men because you just share with me
• 44:12
  that you've had it too. But like we, we tend to be in
• 44:17
  achievement mode and, and the, the meaning of our life is about
• 44:22
  what we achieve, like what we build.
• 44:25
  And, and even for me, impact and contribution has been a big
• 44:29
  thing. Like I'm changing people's
• 44:32
  lives. But now I look back and wonder,
• 44:35
  did I do it more to change people's lives or I did it more
• 44:38
  to feed my own need to, you know, achieve something to and,
• 44:44
  you know, and, and, and, you know, and, and a lot of the work
• 44:47
  that I've done, like Tony Robbins, for example, would even
• 44:50
  say like who, who's, who's love? Did you crave more when you were
• 44:54
  young, your father or your mother?
• 44:56
  And for me, it was my mother, you know, and then he would say,
• 44:59
  well, what did you have to be or who did you have to be to get
• 45:02
  love from your mother? Well, I had to be a good boy.
• 45:05
  I had to stay out of trouble. I had to study hard like I had
• 45:08
  to, you know, listen to my parents, you know, and then, you
• 45:13
  know, earlier today when we were speaking, I'm like, all I ever
• 45:16
  wanted in my life was for my mom to be proud of me.
• 45:19
  And, and I was so consumed with making my mom or making other
• 45:23
  people proud of me and how I looked to the world that and,
• 45:29
  and the, and the other part was like, I had never really been
• 45:32
  through like a major health challenge or like a loss of
• 45:35
  major loss of money where I was bankrupt or homeless or anything
• 45:39
  like that. And so when people were going
• 45:42
  through their own challenges, Hannah, like I actually, up
• 45:45
  until a year or two ago, I actually had a hard time having
• 45:48
  empathy and compassion for people.
• 45:50
  I'd just be like, oh, toughen up, make your move, say yes, go
• 45:54
  walk on fire, change your state. You know, you can control your
• 45:57
  thoughts. You can control your emotions,
• 45:59
  like snap out of it. And because all those things
• 46:03
  work for me for, you know, a moment of time or for many
• 46:06
  moments of time. But when I started feeling like
• 46:12
  I wasn't able to just make my move or, or go to a seminar or,
• 46:17
  you know, talk to my coach and, you know, I would be, I would be
• 46:21
  able to do those things and change, quote, change my state.
• 46:24
  But then like my recurring emotion was like, you know,
• 46:29
  anxiety, sadness, depression, unfulfillment.
• 46:32
  I'm like, I got to figure out like something different.
• 46:36
  So yeah. So one of the things I did
• 46:39
  recently as I did my first plant based medicine journey and it
• 46:45
  was, it was transformational and it, and it, you know, and the
• 46:47
  guy that I did it with was, you know, he made hundreds of
• 46:51
  millions of dollars and, and donated like millions and
• 46:56
  millions of dollars to charity. And, you know, as I listened to
• 46:59
  his story, he still wasn't fulfilled.
• 47:02
  And eight years ago, like someone asked him, Hey, do you
• 47:04
  want to go on a healing journey? And he was at his answer was
• 47:07
  like, well, I don't need to heal.
• 47:10
  And I related to that. I'm like, I don't need to heal.
• 47:12
  Like I'm fine. Like, yeah, my mommy didn't love
• 47:14
  me enough when I was young. So what, you know, but I didn't
• 47:18
  realize how. And she did love me.
• 47:21
  But what I didn't realize was like, you know, I didn't have
• 47:24
  that nurturing love as a as a boy, You know, I didn't have
• 47:28
  that, that hug, that warm embrace, that that nurturing
• 47:31
  love. And, and so now I'm finally
• 47:35
  learning how to like, give that to myself.
• 47:39
  I read more, I journal more, I found God, I, I, I was raised
• 47:42
  Catholic and, but I rediscovered like my, my own personal
• 47:46
  relationship with God and with Jesus, you know, I, I like to
• 47:51
  spend more time alone. I always used to be deathly
• 47:55
  afraid of being alone and I just uncomfortable being alone, you
• 47:59
  know, and I got into relationships to not be alone,
• 48:03
  you know, and, and so like, now I'm finally learning like, like
• 48:09
  a new way of, of living that is really more about like love and
• 48:17
  connection and, and, and showing up in a way that I wasn't able
• 48:22
  to show up before, you know, and it's like, if, if you want
• 48:26
  connection, then connect with somebody.
• 48:28
  If you want a friend, then be a friend.
• 48:30
  You know, if you want love, then be loving.
• 48:34
  And you know, like, what could you, how could you show up and
• 48:37
  be in a way that. So yeah, what I'm learning is
• 48:42
  whatever I want, I have to become.
• 48:45
  Yeah. I relate to that whole journey
• 48:48
  and story. And we all so many people have
• 48:52
  trauma, you know, even if it's little T trauma, as Doctor Monte
• 48:55
  will talk about from their childhoods and they don't even
• 48:59
  know it. And it doesn't have to be severe
• 49:01
  things. It could be.
• 49:02
  It usually is something as simple as not feeling seen, hurt
• 49:05
  or protected by one or both of your parents.
• 49:07
  And I had that same thing with both my parents and I, I had,
• 49:11
  you know, always trying to get their love and earn my worth in
• 49:16
  the household. And it serves you really well,
• 49:19
  right? Because it gives you that drive
• 49:21
  and that why and that need to, to achieve.
• 49:23
  But it's critical that at some point you, you zoom out and
• 49:27
  realize like, OK, what is life really about?
• 49:29
  And it is really about love and connection and purpose.
• 49:33
  And I think for me, it's happiness and being able to
• 49:36
  spread that happiness and joy to others.
• 49:38
  And financial success is a piece of that because you can't have
• 49:41
  freedom without some level of money.
• 49:43
  But that's what it is, is a means to freedom to be able to
• 49:47
  have amazing relationships and love yourself and take care of
• 49:51
  yourself and all of those really actual meaningful things in
• 49:55
  life. So.
• 49:56
  I absolutely, yeah. So what is one piece of advice
• 50:01
  that you would give to the audience who wants to have it
• 50:04
  all in life and live the best life that they possibly can?
• 50:08
  Let's see to have it all and live life is the best way you
• 50:11
  possibly can. Well, well, just a couple things
• 50:13
  come to mind. Like so my dad is 88 and just
• 50:16
  had, you know, brain hemorrhaging, you know, also
• 50:20
  known as a stroke. And, you know, I was, I was up
• 50:25
  there with him recently and he said, Brad, whatever you do,
• 50:31
  like take care of your health. And, you know, and Tony Robbins
• 50:35
  teaches it too. And one of the things that has
• 50:37
  helped me like get out of a, you know, a downward spiral is when,
• 50:44
  when other things don't seem to be going right.
• 50:47
  Like the number one thing that you could do to control things,
• 50:51
  like we think we could control life.
• 50:53
  You can't control life, but the, the thing you can control the
• 50:55
  most is like what you do with your own self.
• 50:59
  So like, you know, take care of your health, you know, I like to
• 51:04
  wake up early. I like to work out.
• 51:07
  You know, my workout routine in the morning is I alternate
• 51:10
  between a morning run, morning weight training or a morning
• 51:13
  yoga. It really sets the tone for the
• 51:16
  rest of the day. Like it gives me like I'm out, I
• 51:19
  like to do it outside. Like, you know, I relocated to
• 51:22
  Miami like I'm, I'm at a point where I can live where I want to
• 51:26
  live and invest where I want to invest.
• 51:28
  And so like, you know, you, you really want to take care of
• 51:31
  yourself because if you're take care, if you're taking care of
• 51:34
  yourself physically, it spills over into other domains of your
• 51:38
  life. It's like, I've never been in
• 51:40
  the army. But you know, they say, like,
• 51:41
  why do they make the soldier or the Marine like fix their bed in
• 51:45
  the morning and shine their shoes and have an inspection is
• 51:47
  because it starts the day with a win.
• 51:50
  You know, they start a day with like, Hey, I got something done.
• 51:52
  I got. And not that life is all about
• 51:54
  getting something done, but like for me, and it's actually not
• 51:57
  about getting something done, but for me, if I could start my
• 52:00
  day on a positive note, taking care of my body, my mind, my
• 52:04
  spirit, it's going to set the tone for the rest of the day.
• 52:09
  So I would say take care of your health.
• 52:11
  And I would also say like, ask yourself, like, are you?
• 52:15
  And it occurs to me, Hannah, that a lot of the people
• 52:17
  listening to this show are probably also like an achiever
• 52:20
  mode. And, and I would just say like a
• 52:23
  life of achievement without fulfillment to me is not a
• 52:27
  successful life. And so, you know, really get
• 52:33
  honest with yourself and ask like, hey, am I fulfilled?
• 52:36
  Like am I fulfilled in my business or is my business just
• 52:40
  about the next event or the next building or the next
• 52:43
  acquisition? And has it become like an
• 52:46
  addiction? And what am I giving up?
• 52:48
  Like am I spending time with my spouse?
• 52:50
  Am I spending time with my kids? Am I spending time with people
• 52:53
  that matter? Am I present?
• 52:56
  You know, am I creating experiences that, that are, that
• 53:00
  are meaningful? And, you know, I mean, I, I was
• 53:06
  in a 12 year marriage and, and our marriage started off in a
• 53:10
  beautiful, beautiful manner. And it turned into like, and
• 53:14
  it's my fault, it's my accountability.
• 53:16
  But I made it all about business and how we could grow our
• 53:19
  business and how we can make more money.
• 53:21
  And yes, there was a huge element of how we could serve
• 53:23
  more people, but it just became all consuming, You know, where
• 53:28
  for me, I lost the, the ability to like just connect as a
• 53:33
  husband, you know, and, and listen and be present and be
• 53:37
  there and not talk about business and not talk about.
• 53:41
  And even if it was making an impact, it's like I became so
• 53:44
  consumed with those things. And, and, and so people matter,
• 53:50
  relationships matter and your health matters.
• 53:53
  And I think those matter more than just about anything.
• 53:56
  And at the same time, you want to have a business where you
• 54:00
  could, you know, fix your finances.
• 54:03
  So like, if you're not financially free, like you want
• 54:05
  to get to financial freedom, but you don't want to be so addicted
• 54:08
  to it that you lose track of everything else that's
• 54:11
  important. And I know that was a ramble,
• 54:13
  but you know, I'm not sure how else to answer it in one in one
• 54:17
  or two sentences. Yeah, it's perfect and it's so
• 54:21
  true. And it's so hard to see the
• 54:24
  light at the end of the tunnel when you're just, you know, when
• 54:26
  you're in like fight or flight survival mode to just get money
• 54:30
  and get more and whatever. And there is, I think I always
• 54:33
  wonder, cause a lot of, I think Robert Kiyosaki told me this,
• 54:38
  the problem with women is they think they can have it all or
• 54:40
  something like that, or it's some quote.
• 54:42
  And I do believe you can have it all.
• 54:45
  And I think you should be able to have it all, but not always
• 54:48
  all at once. Like there is a sacrifice.
• 54:50
  And in order to learn these revelations and to have this
• 54:55
  wisdom, we have to experience that sacrifice that we have to
• 54:58
  lose and we have to go through the pain that it takes to
• 55:03
  achieve freedom. And, and so I think it's, it's
• 55:06
  important and it's hard for people who are really in in
• 55:09
  build mode and growth mode. And it's hard for me still too,
• 55:11
  But I realized because you can always measure up to someone
• 55:14
  else, right? It's like once I once I was a
• 55:17
  millionaire, then I wanted to become a billionaire.
• 55:19
  Like it's just always the next thing.
• 55:21
  And so when, since there's always someone that has more
• 55:26
  than you, when is it time to start looking inside for the
• 55:30
  answers and for that fulfillment so.
• 55:33
  Yeah, I mean, those are these are great questions.
• 55:35
  And to me, it's like the time is now because, you know, and I
• 55:41
  agree with that comment, like you can have it all, but you
• 55:44
  can't have it all right now at the same time.
• 55:49
  But being able to shift from like a Zoom meeting, you know,
• 55:53
  to an event, to a coaching call, to underwriting a deal.
• 55:58
  But being able to shift focus to being present, you know, to
• 56:04
  showing up for your dad, you know, when he needs you, You
• 56:10
  know, to like I've I've in the last month, I've been to
• 56:14
  Pittsburgh several times just to be with my dad, to, to, to be
• 56:21
  present in the conversation with somebody that matters, whether
• 56:24
  it's a, you know, you're in a relationship or a marriage or,
• 56:27
  you know, you're a parent. Like you, you want to be able
• 56:33
  to, to do that, you know, and it's hard for some people to
• 56:36
  like shift, you know, and, and so, yeah, I may not be making
• 56:43
  sense here, but like, I would just say you got to do a gut
• 56:47
  check and be like, hey, am I really fulfilled?
• 56:50
  And, and what I'm doing and like this that now is this is this
• 56:53
  amazing time because it's like the beginning of a year.
• 56:56
  You know, there's something symbolic about like, yeah,
• 56:58
  everybody does New Year's resolutions and all that type of
• 57:01
  stuff. But there is really something
• 57:02
  symbolic about it because it's kind of it's, it's a great time
• 57:06
  to refresh, you know, to renew, you know, to refocus, to
• 57:09
  recalibrate. So like, it's a great time to
• 57:12
  look at all the domains of your life.
• 57:14
  You know, your money, your, your life work, your life mission,
• 57:18
  you know, your finances, your bank accounts, all the
• 57:21
  relationships, your family, your spouse, your children, people
• 57:24
  that matter to you, your health, your energy levels and really
• 57:29
  assess like where they're at now, honestly, and then where
• 57:35
  you would like for them to be. And then what's the gap?
• 57:39
  And then how do you start taking actions to, you know, close
• 57:44
  those gaps and, and you can't go from like a level 5 health to a
• 57:49
  level 10 health overnight, you know, but if your health or your
• 57:52
  energy level, say, or your physical body, you know, it's
• 57:55
  just say you would rank it as a 5 out of 10.
• 57:57
  Like, you know, in a few short months, you could be a 7 or 8
• 58:01
  out of 10 if you committed to working out and not eating late
• 58:05
  and not drinking alcohol or not doing drugs or, you know,
• 58:08
  whatever. Like you could, you could take
• 58:10
  steps that would make huge differences.
• 58:14
  And, and So what I do and when I'm, I'm still doing it right
• 58:17
  now. I just, I was just at a vision
• 58:19
  board party 2 days ago and created a vision for all the
• 58:24
  like. I have like 8 domains in my life
• 58:26
  that, you know, you could call it faith, family, fitness,
• 58:28
  finances, fun, you know, whatever.
• 58:30
  And, and I assess like where I'm at and where I want to be.
• 58:35
  And then what are actions that I could take and all of these
• 58:38
  domains to to expand my self-assessment.
• 58:43
  Yeah. So that's what I do.
• 58:45
  I do a vision board every day too, and I have every year and I
• 58:48
  have the the pie with all my domains as well and where I want
• 58:51
  to be. And it's nice to see them start
• 58:56
  to become balanced. And you do, you know, success is
• 58:58
  just doing the daily habits every single day, the small wins
• 59:02
  to get to where you want to go. It's just, it's just continuing
• 59:05
  what you have to do even when you're not seeing results.
• 59:09
  You know, those are the people that truly become successful as
• 59:11
  they keep doing what they know they need to do to get the
• 59:13
  results, even in the slow and mundane and the time that it
• 59:17
  takes. Yeah, absolutely.
• 59:18
  Well, cool. Last question before we wrap
• 59:20
  out. Wrap up.
• 59:22
  So what is one quote or philosophy philosophy you live
• 59:24
  by that has helped you achieve such massive success?
• 59:36
  Well, the first thing that came to mind was this is this is a
• 59:40
  quote that I would and I don't know if it's Tony's original
• 59:43
  quote, but Tony Robbins has a quote that really resonates with
• 59:46
  me. And I would say it all the time,
• 59:49
  but now I really like feel it in my in my soul is a secret to
• 59:54
  living as giving. So, you know, you could ask
• 1:00:01
  yourself, like, am I in this relationship to give?
• 1:00:04
  Or am I in this relationship to get am I in business to give or
• 1:00:08
  to get, you know, am I doing this charity work so I could be
• 1:00:12
  seen on social media to get more likes and to get more
• 1:00:15
  affirmations and get more significance and notoriety?
• 1:00:18
  Or am I here to really, you know, change the lives of the
• 1:00:22
  people that I'm helping in this charity?
• 1:00:25
  And and so if you could come at things from a place of giving, I
• 1:00:29
  think you're going to have more freedom, you know, more
• 1:00:33
  financial success, more fulfillment and and ultimately,
• 1:00:37
  depending on what you believe spiritually, like a better
• 1:00:40
  afterlife, so life. Gives to the giver.
• 1:00:44
  Yeah, love it. Well, awesome.
• 1:00:46
  Well, it's been super fun getting to know you and I'm I'm
• 1:00:48
  honored to know you and it's been great to hear your story.
• 1:00:51
  So thank you so much for coming on the show.
• 1:00:53
  You're welcome. It was.
• 1:00:53
  It was great.