Are you frustrated by all the "fluff" in the real estate investing industry? Tired of so-called gurus selling dreams of easy wealth without talking about the real work required? This episode features the bluntly honest Chris Rood, an entrepreneur who built multiple successful businesses from the ground up. Known for "telling it like it is" even when it's rude, Chris pulls no punches in discussing the realities of entrepreneurship and real estate.
Through years of experience scaling businesses, he developed philosophies around managing cash flow that have helped countless investors. In this candid conversation, Chris outlines his proven system for progressing in real estate - from wholesaling to land development over decades. Don't miss out!
01:54 Chris Rood talks about his background growing up with a conservative, hardworking family and starting successful businesses like oil change shops from a young age. This experience primed him for entrepreneurship.
04:38 - Chris stresses the significance of diligence and self-improvement, urging young entrepreneurs to prioritize personal growth over mindless entertainment. He champions personal development and business advancement, finding fulfillment in the journey rather than just in achievements, believing that entertainment is truly enjoyable when accompanied by hard work and dedication, qualities often lacking in many individuals.
09:12 - Chris introduces the idea of categorizing investments into "fast money," "medium money," and "slow money" to assist investors in managing their finances from short-term gains to long-term growth. He recommends prioritizing fast and medium money to maintain a steady cash flow before gradually transitioning into slower money for sustained and substantial long-term investment returns.
13:09 Chris elaborates on the progression of real estate investing, from direct marketing to sellers, wholesaling, raising private funds, flipping properties, and finally, adopting a buy-and-hold strategy, underscoring the significance of cash flow and property maintenance, especially in long-term investments.
17:00 With a background in real estate and land development, Chris' journey began with small ventures like oil changes and car washes in college, scaling up to four locations by age 26, with profits reinvested into real estate, building a substantial portfolio with a focus on slow money. His experience scaling businesses to multiple locations paved the way for him to become a multimillionaire in his 20s.
17:40 Chris talks about the opportunity currently in trades like mechanics due to labor shortages and demand for skilled labor.
23:46 Chris offers a coaching program aimed at assisting individuals in entering the realm of real estate entrepreneurship, sharing his wealth of experience and wisdom with his clients. Through initiatives like his Allies Mastermind program, Chris facilitates partnerships and equips aspiring entrepreneurs with the necessary skills to thrive in business.
25:23 Chris hosts an "Allies Mastermind" event quarterly for like-minded entrepreneurs. The next one is mentioned taking place June 19-20 in Nashville, Tennessee.
27:03 - Buying right in real estate investing through deals with equity was emphasized by Chris over appreciation or ego-driven purchases. Investing smart in real estate means prioritizing deals with equity, not buying based on ego or speculation. It's about building a secure portfolio for the long run, focusing on stable investments rather than quick gains.
Mentioned in this podcast:
Facebook: https://www.facebook.com/chris.rood.31
Instagram: https://www.instagram.com/realestaterood/
YouTube: https://www.youtube.com/@ChrisRoodentrepreneur
Website: chrisrood.com
Allies Mastermind - June 19-20 in Nashville, Tennessee
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