#015: Surrounding Yourself With Empowering People & The Cycle of Abundance.

August 25, 2017

Podcasts

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Jim Licata shares his analogy of a canary in a cage and how it applies to transitions into full time investing and life in general. We also discuss Puerto Rico real estate investments and inefficient markets.

Check out this episode!

SHOW NOTES

0:40 – Introducing Jim and what today’s call is about.

1:44 – Background on Jim, his career, and how he got into real estate.

4:55 – Some of Jim’s coaching influences and mindset shifts.

8:09 – One of the biggest lessons Jim has learned: surround yourself with empowering people and the cycle of abundance.

9:20 – Jim’s analogy of the canary in a cage and how it applies to a transition he’s experiencing now.

12:16 – What it would take for Jim to feel comfortable in this transition into full time investing.

14:38 – Organizing all the different information that is available and finding a way to use it that works for you; getting clarity around doing things you want to be doing.

16:20 – Background on what Brandon is doing and how he and Jim have started working together.

18:38 – Connecting Jim’s passion for sailing with investing in Puerto Rico.

20:56 – Information on the Kensington investor summit and what Jim got from it.

22:20 – Digging into the systematic way Jim has prepared for starting to invest in Puerto Rico and one of the worst mistakes he’s made.

24:48 – Jim’s experiences with smaller housing units and storage units as well as what he sees himself working with in the future.

27:50 – Brandon’s approach to starting out with a client to understand their needs and goals; emotions versus objectivity in rental properties.

32:40 – An example of a property Brandon has presented to Jim that was built more emotionally than objectively.

36:28 – Identifying what the buyer is looking for and thinking about what would make a property efficient for them.

37:20 – The value of getting to know neighborhoods in the area that you’re looking to invest in and working in an inefficient real estate market.

38:19 – Clarification on inefficient markets.

41:29 – An important aspect of investing at a distance from Jim.

43:19 – Strategies that may be available within an inefficient market.