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Every real estate investor knows that things don’t always go as well as we’d like. What happens when you’re hit with a $16,000 bill to fix a sewer, or when 20 of your tenants call you all at once with problems? Some things, like those examples, make active real estate investors envy passive investors. This is why Tamar Hermes decided to go on a more passive route for real estate investing. Tamar started at age 28, working as an executive in the television industry. She realized that she was trading her time for money, and without her job, she wouldn’t be able to pay her bills. So, she put 10% down on a duplex and started house hacking. Over time she bought more and more duplexes, some even out of her 401(k). She was an aspiring landlord, but after being hit with the situations above, she decided to sell all her units in Los Angeles and put her money into more passive income streams. Now she’s invested in syndications, like Brandon’s Open Door Capital to be exact. This gives her far more freedom to pursue her passions in life, without having to worry about those 2 A.M. toilet calls. Tamar refers to herself as a very cautious investor, and that may be why she feels far more diversified with passive investing than active investing. She also talks through “finding your tribe” and how Gobundance has helped her meet friends and partners within the real estate space. This doesn’t mean you need to go out and find a group, but having friends and allies within your certain niche can help move you miles ahead of the competition!

Some people are born into wealth, but none are born into success. Success needs to be earned, through pain, hard work, and perseverance. Patrick Bet-David came to the United States during the Iranian Revolution of 1978, after already being a refugee in Germany. Patrick served in the U.S. Army and prided himself on his ability to party, but after a family health emergency, he decided enough was enough, and he became the hard-working, driven man he is today. Now, a successful businessman, media producer, best selling author, and CEO, Patrick has a lot of wisdom to share for young and aspiring businesspeople. One of his biggest lessons: don’t waste your pain. Patrick shows how the best of the best in business, sports, or any other field are consistently putting themselves in positions where they have to fight to be the best. Patrick argues that even if you’re the best basketball player in your high school, once you go to college you may be at the bottom of the list, and once you become the best in college, you may be stuck again at the bottom of the professional leagues. This means you have to constantly change, adapt, and improve yourself to become the best of the best. We also talk about Patrick’s book, Your Next Five Moves and how people who are masters in their skillset are thinking at least five moves ahead of their competition. Want to buy a house? What are the next 5-10 moves you could make right now to get that done. Most people do a single step, stop because it’s too hard, and leave it at that. If you want to be the best of the best, you need to think bigger and understand the importance of the sequencing of those steps.