MB485: The Real Reason You’re Not Scaling — The Psychology of Impossible Goals - With Dr. Benjamin Hardy
Financial Freedom with Real Estate Investing
How Who Not How Applies to Multifamily Syndication
Michael explains why syndication exemplifies Who Not How and how teams of deal finders, capital raisers, and operators enable scaling.
If you’re trying to scale your real estate business and still asking “How do I do this?”, you’re already falling behind. In this episode, Dr. Benjamin Hardy, author of 10X Is Easier Than 2X and The Science of Scaling, explains why success in multifamily hinges on shifting from "how" to "who." Michael and Ben dig into why most investors get stuck on the wrong path, and how committing to a bold vision — even without knowing the entire roadmap — is the real starting point. This episode is a must-listen for six-figure earners stuck in the single-family grind, trying to leap into commercial real estate and financial freedom.
Key Takeaways
1. Why Your 10-Year Plan Is Holding You Back
- Most investors set conservative goals based on their current capacity.
- A 10-year retirement plan with single-family homes isn't just slow — it’s likely broken.
- Reframe your goal: what would it take to become financially free in 12 months?
- When the timeframe compresses, the current strategy breaks — and that’s the point.
2. The "Who Not How" Principle for Real Estate Scaling
- Multifamily investing isn’t about doing more — it’s about doing different.
- Instead of figuring out every step, ask “Who already knows how to do this?”
- The right team — mentors, capital partners, deal finders — collapses the learning curve.
- Syndication is the ultimate “who not how” structure: it’s a team sport.
3. The Psychology of Commitment and Belief
- You won’t pursue what you don’t believe is possible.
- Small “micro-commitments” — like booking a strategy call or analyzing your first deal — build belief.
- Commit to the outcome (financial freedom), not the tactic (buying rentals).
- Reverse-engineering from your end goal leads to radically different decisions.
4. Letting Go of the Path That Got You Here
- Your current strategy won’t get you to your next level.
- If you're clinging to rentals, flips, or even a high-paying job — you're on the wrong path.
- Letting go feels like quitting — but it's often the gateway to real progress.
- Ask: “What’s the opportunity cost of staying stuck?”
5. Dr. Hardy’s Framework from The Science of Scaling
- Identify your "floor" — the level where you're currently stuck — and why it's limiting.
- The most successful entrepreneurs redesign their systems, teams, and mindsets to scale.
- Scaling isn’t just a process — it’s a mindset of focusing on fewer things, done better.
6. Multifamily as the Ideal Vehicle for Scaling
- Single-family strategies are too slow, too small, and too dependent on your time.
- Multifamily offers higher leverage, scalable income, and team-based execution.
- The joint venture nature of syndication makes scaling practical, even if you’re starting out.
- The ability to raise money or partner with operators creates fast pathways to GP status.
Connect with Dr. Benjamin Hardy
Get your free copy of the Science of Scaling audiobook
Connect with Michael
Resources
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For full episode show notes visit: https://themichaelblank.com/podcasts/session485/
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