Table of Contents - The Real Estate Mindset with Steven Pesavento
Dave Debeau [00:00:09] Hey, everyone, this is Dave Debeau. Welcome to another episode of the Property Profits Real Estate podcast coming to you all the way from beautiful Cruz and what actually Mexico. And my guest today is Stephen Pessah, Vento, who's coming all the way, and from Denver, Colorado. Stephen, how are you doing today?
Steven Pesavento [00:00:27] I'm doing fantastic, thanks for having me on, Dave.
Dave Debeau [00:00:31] My pleasure. So if you're not familiar with Stephen, he's got a rock and roll podcast all about mind set in real estate investing. He has a very, very active real estate entrepreneur himself. He's done a hundred over one hundred and fifty flips in two years in two different states. So definitely an overachiever. So, Stephen, great to have you on the call. And why don't we start off with what got you going with real estate investing in the first place?
Steven Pesavento [00:00:57] Yeah, my story is just like so many other real estate investors, it's you know, it starts out with this dream, this vision of a lifestyle that's better than the one that I have or the one that I grew up with. And it's one of those where for so long I thought real estate's going to be the key real estate, going to be the tool. It's going to be the thing that's going to end up getting me to that that lifestyle that I really desire, the thing that I wanted to go after. But there was so many things that were blocking me, so many things in my way. So before I ended up finally jumping in, you know, I worked in management consulting. I ran tech projects, building web apps and doing digital marketing and a number of different things along the way, including some startups that worked but failed and just continue to kind of push until finally I had this big realization that I couldn't get real estate out of my head. I couldn't stop thinking about it. It was the one thing that no matter how many times I tried to push it aside and say, not today, it would keep coming back up. So finally, I just listen to that little voice inside and decided to say, hey, well, maybe I can do this. Maybe I need to let go of those limiting beliefs that say, well, I'm not old enough or I don't have enough experience or I don't have enough money or I don't come from a family that does this or I don't even know anybody who's actively flipping houses or an active real estate investor. So I just decided one day, finally, I put my foot down and I made a decision which what that really means is I decided, which is cut myself off from any other options and I move forward into real estate. And fortunately, the rest is history.
Dave Debeau [00:02:34] So I was feeling that part of the history, because there's a big leap between making that decision to get started and doing one hundred and fifty deals in two years. How did you first of all, how did you decide what strategy to focus on? How did you get started with that and how the hell did you do that many deals that quickly, or was it kind of a a ramp up, kind of a procedure?
Steven Pesavento [00:02:56] I know ramp up procedure. I decided before I knew what I was going the strategy of the how I made the decision on on what I was going to do. I got clear on why I wanted it, why it was important, why I was going to do it. And then I figured out the how in between. So I literally one day I was sitting in my living room and I was I jumped up and I was like, I'm doing this. I'm making it happen right now. It's a thing. And I burn the boats right then and there. I sent an email to all my clients. I was building websites at the time. I said, here's who's going to be running your projects from here on out. I'm out. I've essentially fired myself from all of my projects so that I had no other option but to succeed. And now not everyone is going to be in the right place to do that. But I think there's something really valuable about burning the boats, about going all in on something, about deciding that no matter what happens, I'm going to find a way. And once you get that kind of certainty in your head, things start happening really good. Things start happening right after that. Within about a week, I went to my first real estate investor event. I researched this woman who was going to be speaking at the event, and I figured out that, oh, she's she fixes and flips houses and she runs another real estate club in the area. And I thought to myself, how am I going to learn this thing? I need to get close to people who are successful. I need to get close to people who have already been there and done it already. Going down this path, I need to figure out a way, how can I add value to their life? So to cut the story short, since I know time is short, I figured out a way to add value to her life, essentially traded some of my times and skills to have the ability to follow her around. And in that process, I learned so much just through the process of being near that person, be able to hear, ask questions and see things happen. And, you know, there's a couple other steps that come after that from going from zero to one hundred and fifty and two years, two hundred and three. But the most important part was making that decision and choosing a direction and staying on that direction until I hit that outcome I was after.
Dave Debeau [00:05:03] Well, Stephen, I love that story and I love the fact that you took massive action. You found the person that you wanted to work with. And so many people, I see them making the same mistake over and over again is they say, hey, could you be my mentor? Hey, could you teach me everything that you know? But they don't really bring anything of value to the table. So all they are is really a pain in the ass for that active real estate investor. The last thing they need is another employee, a free employee, so to speak, who they have to teach and train and bring up to speed or somebody else is just kind of leeching off them for free information. So you came in and I'm sure with your background, you brought a lot of value in the tech side of things for this person. That's what I'm guessing.
Steven Pesavento [00:05:51] Yeah, that's exactly in my case, I was able to build an offer to build a ten to fifteen thousand dollar website for free and exchange. I mean, that's a I making an irresistible and offer. The person had a terrible website. They needed a new website. And in return for me, giving them something that's worth tens of thousands of dollars, they just had to let me follow them around where they did what they already going to do. I'm not asking for too much. I'm not even expecting that they're going to say yes. But I'm going in with confidence in my abilities and skills and saying, hey, look, here is what I can do for you. Would you be open to me just being a fly on the wall and I think that's where I encourage investors who are new to the game or looking to transition into another space, to come to the table with one of two things, value in the form of I'm going to give time, effort, energy, knowledge, and you've got to give way more of that than you're going to then you're going to get in return for the ability for somebody to even pay attention to you, because real estate investors, people of any kind of success, they want to help people. They want to get that fulfillment, but they don't want it unless you're one hundred percent appreciative and that you're coming to them with kind of that abundance mindset or two, you've got to pay for it. And so many investors, they don't want to pay for it with their time or their checkbook. And that's a big problem. And I used to have a real big limiting belief. I used to think that coaches and mentors people who I was going to pay to be a part of a group or something, that this was a big scam, that they were going to take all my money and I was going to listen to bigger pockets or some of these folks out there who have been taken advantage by charlatans. But the truth is that most of these investors, myself included, I make way more money doing the business of investing than teaching somebody to do it because on a single wholesale deal or flip deal. So I flip in wholesale houses, single flip or wholesale deal. I'm making 15 to 20 thousand dollars. If it's a flip, you know, multiply that by two or three. It doesn't it's not worth my time to teach somebody how to go out and fish. If I've already got a fishing expedition out there bringing in all the fish that I need, I make way more money doing this. But the reason that I would offer and the reason I would want to work with people is because it's pretty fulfilling. It's a really good feeling to know that somebody is going to come in with all the energy and passion that I have, or maybe half of it. But they're going to apply all of it that they have and that they're going to go out and do something good. And it's going to make me feel good to know that I help that person quit their job or help them get to that place. The money and all the money is is a commitment that that person is making. It's not even about paying the coach, but it's about people don't show up unless they pay up. So that was one big limiting belief that I had. And so I encourage you, if you don't have money, just figure out a way that you can add more value than anyone else to that person. And I promise you, they're going to want to take you under their wing.
Dave Debeau [00:08:49] Good advice. So, Stephen, you've got your own podcast called the Investor Mindset podcast. Tell us a little bit about that, how that came to be and why why you put so much emphasis on mindset when it comes to real estate investing.
Steven Pesavento [00:09:05] You know, the truth is, I was like so many other investors, fortunately, I already had this foundation coming into real estate. And so when I came in, I came in with, like, hard vigor. I was getting digitally mentored by a lot of very successful people. Tim Ferriss, Tony Robbins reading that year that I started, I read over seventy five books because for me I didn't have a lot of money to invest, but I had a lot of time. So I was going to go find every mentor that I could, even if I couldn't or wasn't willing to pay for them at that time. So the reason that I started the Investor Mindset podcast, the reason why mindset is so important is because I was able to take off and do seventy five deals my first year. Thirty five of them full blown. Flip's in two different states. Right. But the reason I was able to do that was because I was set on this direction. I had super clear clarity on what I was doing and why I was doing it. I was emotionally connected to that and I had focus and I had mentorship to show me the path forward, show me the path to success. And I went down this path and I went fast. And there's a lot of good things about going fast. There's a lot of bad things about going fast, fast, costing you money. If you make mistakes, it cost you a lot more money. But the truth is, what I ended up taking away from this process was that when I talk to other investors, the biggest thing that holds them back is their mind. It's their beliefs sort of thoughts and beliefs which end up leading to the action that they take or don't take in their life. And so what I wanted to do was, you know, fulfill my own need. How can I talk to super successful people? How can I ask them the questions that I know are going to be a needle mover for me? But most importantly, how can I contribute back to the community that I'm building by having those other people be able to listen and hear? How do those people think? What are the thoughts and beliefs that they have that have led to their success so that they can move forward and do amazing things? And that is really what's come out of it in just a short amount of time. We we've become a top two hundred podcast for investing of it on the front page of iTunes for multiple weeks after launch. And the reason for that is because there's a lot of passion and people need this and people forget that it's not all about the tactics. It's about being able to apply the tactics consistently and knowing why the heck you're doing it.
Dave Debeau [00:11:26] So the question for you touched on your why you got really dialed in on your why you got very, very laser focused. And now that you've been doing this for a while, now that you've been interviewing some very successful people, what kind of suggestions would you have for other folks who perhaps haven't had that ability to really dialing on their why and get that focus? So to start with the why, what would be your best way to figure out your deep down why? And it's not just to make a million bucks.
Steven Pesavento [00:11:56] Yeah, absolutely. The million bucks is just a high level thing. What's the purpose of the million bucks? What will the million bucks do for you? And then you keep asking that question as you go down the path. So what I've got for your listeners is I put together about a fifteen to twenty minute overview of how to get really deep into that clarity, how to figure out your purpose and most importantly, how to get emotionally connected to it. But I'm going to give you just a little touch of it and then it's totally free masterclass. I'll tell you the link to and we'll include that in the show notes. But the secret here is it's not a secret. It's just you have to be conscious of it and you have to take some time. So I recommend sitting down, having a half hour to an hour, maybe more time, maybe a whole weekend where you're going to start clearing your mind. What are all the things that you want your life? What are all the things that you must have? What are all those goals? And then start writing those down and then you're going to go back to each of those things or those purposes or those actions that you believe you want, that lifestyle that you kind of have that picture of. And I want you to start asking yourself, why is that important? What is that going to give for me? What is that going to do for me? What's the outcome of that going to do? And start asking yourself that over and over again. And as you keep asking at each different stage, you ask yourself that question, you're going to start getting more clear on what the real purpose is that you're trying to do what you're trying to do. But the most important part of all this, and I'm going to get deep into this and that masterclass that I may give to all of your listeners is that you need to get emotionally connected to that purpose and that emotional connection to that purpose. When I say that, what I mean is from a positive standpoint, from a pleasure standpoint, when you think about succeeding at it, I want you to feel happy. I want you to feel enriched. I want you to feel energized. I want you to feel on top of the world. But there's the other side of it. And when you think about not having it, when you think about your children not being able to live the life that you dreamed they could, when you picture yourself not having those things or that life or the ability to provide for the people that you care about, I want you to. I want you to be so angry that you've got no choice but to get up and keep going because the frank truth is investing hard. It's a pretty simple business, but it's not always easy. But the thing that differentiates the people who succeed versus the people that don't is that they've got they've got a really clear purpose so that no matter how many times they get knocked down, they're going to get back up again. And they're thinking the right kind of thoughts that end up leading to them having some really clear focus and really clear action in their business. And really at the investor mindset, that's that's what we do. We've got some different programs with different former coaches, Tony Robbins coaches, all these different folks that are able to help investors really unlock their true potential. And that's the reason why mindset has been so important for me, is because I realize that I can learn all these strategies, but I'm not going to do any of them if I don't believe that I could do them. And if I don't truly believe that I can do them, that I'm never going to get to the place that I want to get to.
Dave Debeau [00:15:05] Excellent, Steven. Time flies when you're having fun. So if people want to find out more about you and your podcast and get that masterclass that you offer them, what should they do?
Steven Pesavento [00:15:16] It's totally free. As I mentioned, head to the investor mindset, dotcom clarity, the investor mindset, dotcom clarity, and we'll include that in the show notes for you. Just click on that. Go right to that page. You'll be able to watch a video. It's going to walk you through and I encourage you to actually take action. So here's my ask of you. You've just enjoyed 17 minutes of some learnings and some lessons, but let's actually put that into practice. Learning is worthless if you're not going to actually apply it. So here's an opportunity for you to do that. So I challenge you to stop the car if you're driving or pause or call somebody and tell them what you're going to do, but commit to yourself that you're going to take one action right now that's going to get you closer to that place. And if that means getting more clear, because that's what we were talking about, I encourage you to do that. If you feel like I got the clarity I need, then I encourage you to set a different action. But use this as an opportunity to move yourself forward and stop just being passive and start actively control your own destiny.
Dave Debeau [00:16:18] Good stuff, Steven. Thank you very much. Great meeting you. Thanks for being on this show.
Steven Pesavento [00:16:22] And thank you. And I hope you guys listen to the investor mindset. So you guys on the other side.
Dave Debeau [00:16:27] All right, everybody take care and we'll talk to you on the next episode. Bye bye. Well, thanks very much for checking out the property profits podcast and you like what we're doing here. Please head on over to iTunes, subscribe read us and leave us to review it. Very, very much appreciated. And if you're looking to create a regular flow of inbound investor inquiries about your real estate deals, then I invite you to attend one of my upcoming live online demonstrations. And you can check that out at Investor Attraction Demo Dotcom Ticker.