080: Franco Perez - The Wealth & Information Gap & Striving To Do Better
Mindful Money
The Importance of Seeking Advice from Diverse Sources
In this chapter, the podcast hosts discuss the importance of seeking advice from a diverse range of people to gain valuable perspectives and solutions. They emphasize the need to not solely rely on advice from one group and suggest turning to different sources for different areas of expertise.
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Franco Perez is an entrepreneur and Founder of Franco Mobile Homes, who is working on a social challenge that exists within our capitalist system, while building wealth for his own family and his team and teaching others to do the same. Franco’s mission is to address the affordable housing crisis with well-designed mobile homes.
Today, Franco joins the show to delve into the psychology of not having enough, the shame of some living situations, the benefits of home ownership, and the idea of building a company to solve a problem.
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Key Takeaways
00:53 – Jonathan introduces today’s guest, Franco Perez, who joins the show to discuss growing up as an immigrant and the contrast in what he witnessed in the Philippines and in the United States
06:21 – Choosing happiness and overcoming immense pain and hardship
19:53 – The importance of exercise and the decision to become an entrepreneur
27:29 – Staggering statistics on house affordability
32:42 – Franco provides his thoughts on why mobile homes are the best solution
35:23 – Solving the stigma of mobile homes
43:27 – One thing we can do to increase financial success and one thing to completely ignore
45:48 – One thing that Franco would want people to know about him
46:28 – Jonathan thanks Franco for joining the show and lets listeners know where to connect with him
Tweetable Quotes
“There wasn’t just a wealth gap, there was an information gap. There’s a lot that I wish that I knew back then and a lot that we thought was normal when it comes to finances that actually weren’t. There’s different norms on the wealth side of things.” (04:17) (Franco)
“Going through that problem - even though it was the hardest and saddest time in my life - allowed for me to mature and grow psychologically and also be able to take on bigger and harder problems. It actually built my drive to want to do better.” (10:33) (Franco)
“When you’re in a very desperate situation, you learn to become resourceful and you learn to use the resources you have to try to create the most out of it.” (15:52) (Franco)
“The way this world is set up is that there’s so many services out there for the rich and wealthy and there’s not enough people helping and giving the right advice to those that are average or working class. And that’s exactly what I witnessed and it’s shocking to me. I didn’t care if I made money on it or not - it was more of a side gig for me - but I just wanted to find something that would help ease a family like that.” (22:40) (Franco)
“Knowing the pain was there and knowing that other families need this need allowed me to ignore the noise of people, even investors, saying, ‘Hey, this mobile home thing is crazy. You shouldn’t do this.’ But it was the need to have to fix this problem that I saw as so painful, in this system that is unfair, that I had to do it. When the ‘why’ is important enough, you just ignore the rest.” (26:58) (Franco)
Guest Resources
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