Any successful real estate investor will tell you that they’ve had their fair share of failures. It’s an inevitable part of the journey. How did my guest get back on his feet after his investing business crashed? What are some of the necessary actions and decisions that will help you bounce back from failure?
On this episode, I continue my conversation with Canadian investor Olivier LePage as he shares the most challenging time he went through as an investor, the lessons he learned, and how his business came back better than before.
Watch the Full Episode:
Society wants you to believe that money is hard to get, but you don’t have to fit into that narrow box. -Olivier LePage
Three Things We Learned from Olivier LePage
Failure isn’t something we can avoid in business
After becoming complacent, working less and having challenges with the Canadian revenue service, Olivier ended up $125,000 in debt and his business totally collapsed. What brought him back from that was networking with people, taking action on whatever deals he could find and building up his confidence.
Why you need to be careful about hard money
When most investors first get in, the easiest money is hard money. However, it’s also the most expensive, and often not what you think it is.
The most valuable skill set you have as an investor has nothing to do with money
Getting good at finding the deals is what will unlock your access to all the money you need. Finding deals is the real value. There are tons of investors out there who don’t have time, and can benefit from your knowledge to find lucrative off-market deals.
People tend to see money in a very limited and narrow-minded way, and that feeds into how they approach investing deals. The truth about investing is: you don’t need money to get started, you just need to take action to find the deals. If you don’t have money, you can still create the value of selling the offer. The real value you bring to the table is finding good deals, demonstrating how good they are with data, and putting deals under contract.
Olivier is an Entrepreneur and Real Estate Investor based in Montreal. To get in touch with him, find him on Facebook at https://www.facebook.com/holylepage and Instagram @olilepage.
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