I am a 25-year-old private money lender in Los Angeles; hence the name of our company, Private Money Solutions.
How do you push through anxiety and what have your major challenges been so far?
Whenever there is a lot of money at stake, there is going to be anxiety. What we do plays a huge role in people’s lives, especially borrowers who need the money and investors that may be living off of this income. Sometimes I get short on time and have to deliver nonetheless.
Throughout this journey, I have certainly learned to never get excited about any single deal because it can crash at any moment, and always focus on getting MORE. It is hard to feel anxiety about a specific deal when you know you have 10 more in the pipeline. I also take my health very seriously, and I make sure to eat clean and workout at least 4-6 times per week. This is a huge factor in helping with overall stress.
What are your main tips to achieve success in any aspect of life?
There are a lot of factors that go into becoming successful, so it is difficult to choose only a few tips. If I had to choose the most important tip, it would be to first put yourself in a position where you have a lot of opportunities. This means you should get into sales, entrepreneurship, or any job that allows you to have an unlimited income. Most people may work very hard, but they are working hard at something that can’t offer more reward for their time. Maybe they can get a promotion every few years, but they can’t double their income every year or month. Once you have chosen the right vehicle, it is all about discipline and keeping the promises you make to yourself. Everyone knows they should wake up early, everyone knows they should go to the gym, everyone knows they should read instead of watching t.v. Everyone knows they should put in those extra hours at work to make some extra money and they should save what they earn instead of buying new clothes, and so on.
The difference between successful people and unsuccessful people is that successful people will do those things they need to do, and make the sacrifices. The unsuccessful people will convince themselves that it isn’t a big deal to miss their goals, or not follow through with their plans to improve their own lives.
How do you avoid burn out?
As Gary Vaynerchuck says, “find a way to monetize your passion.” I avoid burn out simply by doing something I enjoy. It is not a chore for me to go to work, it is fun and exciting every day. I used to be a real estate agent, and at one point was even the #1 ranked real estate agent in Los Angeles under 25 years old. This job seemed to match all of my criteria in a job including unlimited opportunity, and lots of freedom. However, the problem was I didn’t have much of a passion for architecture, design, or art. There were a lot of emotions and feelings that went into dealing with clients buying and selling real estate, and I could feel this slowly taking a toll on me.
Working 7 days a week for 4 years; evenings, open houses on weekends, and always being on call allowed me to get a real understanding and grasp of the business. It drove me to explore a new side of the business!
I take after my dad who is truly a mathematical genius. He even got a perfect score on the math section of his SAT. That is what led to me getting into the lending world. I prefer dealing with pure business and numbers. Ultimately, do something you love that fits your personality, and you will never burn out.
What are your plans for continuous growth and success?
I get almost all of my business from mortgage brokers, real estate agents, and real estate investors/developers. To grow, I simply plan on growing my network of these brokers, agents, and investors, and continuing to show them that I can come through on my word of getting their clients money. It is all about customer service. I make sure to always answer my phone immediately, or at least sent a text if I am unavailable and call right back. I also answer all of my emails immediately daily. These things seem like common sense but you would be shocked how bad people are with their phones in the real estate industry.
What constantly keeps you motivated?
Two things motivate me: freedom and the ability to change people’s lives. Like Grant Cardone says; “Being broke is selfish. If you can barely afford to help yourself, how do you expect to help other people?”.
A lot of people are motivated by material things like cars and jewelry, or maybe buying bottles in the nightclub. I am only motivated by the thought of being truly free. My goal is to be able to donate to charities I support. I want to be able to help any friend or family at a moment’s notice and not worry if I have enough money. I want to be able to support young entrepreneurs with their businesses and realizing their dreams. There are a lot of ways to change the world and specific people’s lives for the better once you achieve more financially.
Word of advice for people aspiring to be successful;
Like I mentioned earlier, there are so many tips to being successful. I can write multiple books just on this topic alone. If you want the fast track to success, the best way to do that is to find a mentor in your industry. Find somebody that has achieved the success you desire and somebody that has already gone through the trials and tribulations it takes to get to the top of that industry. There are 3 types of people in this world: those who learn from other people’s mistakes, those who learn from their own mistakes, and those who never learn. You want to be the first person who learns from others. This will save you a lot of time and energy and ultimately lead you on the path to success.