Millionaire Mindcast From A Millionaire to an UBER driver and building over 1,000 rental Properties | Aaron Amuchastegui
In this episode of the Millionaire Mindcast, we have an impressive guest, Aaron Amuchastegui who shares his big wins and big losses in life, and all the craziness, how he got behind the bars but stand & back up, how he started on flipping houses, the story of massive success and how he blew it away, how he back up for the third time around, and actionable tips on how they live a rich and reasonable life, and keeping it on the zenith!
Aaron Amuchastegui is a best-selling author of 5 Hour School Week, an entrepreneur, a real estate investor who had flipped over 1,500 houses all around the country, one of the principals at Homerock LLC, a real estate consulting company focused on distressed assets, owner of Aaron Amuchastegui Construction, a contractor focused on high-speed high turnover remodeling projects improving value to distressed properties, and the President of AMA Construct Inc, who has managed the acquisition and sales of more than $100 Million dollars in single-family homes acquired at the trustee sale and through public-private partnerships with Nonprofits and banking partners.
Aaron’s dad was a custom home builder and his grandma was a developer, so he grew up doing construction real estate that’s why he always wanted to do it. He was 20-years-old when he started partying all the time, did crazy things, got into trouble, and got behind the bars. Aaron wasted his most productive time in prison. He realized that he needs to gain it back and it drives him to get out there and make his life better.
This guy makes up the lost time, tries new things, and shifts his life on the right path. Later, Aaron started flipping houses and succeeds. But because of unplanned actions & uncontrolled spending on the wrong things, they blew up the opportunities. They hit the bottom but during his down moments, Aaron swallows his pride from being a millionaire to doing manual jobs like what a carpenter typically do, and became an Uber driver. He decided to do something and not just be lazy to go back in the path.
They hold their faith and their spiritual part stronger and it really helps them get up and back up. Now, Aaron and his wife Kaleena have over 1,000 rental properties and looking forward to adding more. The couple makes sure they would not miss the second chance; they spend their money on the right thing, donating a portion of their income to the church, and building more memories with his family. One thing that they’re sure of, even if they went broke again; they wouldn’t regret they wasted their money on stupid things and they set their family as a priority.
Some Questions I Ask:
- Where did all this start? (00:30)
- What was your mindset when you’ve got in trouble? (03:37)
- You’ve got your turbulent time in your life, where does that take you next in your career? (13:44)
- Being in a rough spot and rough place, what was your mindset at that point in time(28:00)
- How did you assess doing those necessary things to get you back on the path? (38:10)
- How have masterminds played the role in what you’ve accomplished over the last 3-5 years? (42:12)
- How’s your intention of showing up to mastermind events and the relationships that you’re building? (44:59)
- How do you find time for the balance? (51:13)
- Give us three (3) productivity tips that the hard-charging entrepreneurs and wealth builders can take away from this episode. (01:00:38)
In This Episode, You Will Learn:
- Aaron’s shame & guilt in life. (04:24)
- How Aaron gets his life back and started flipping houses. (15:04)
- Things that would happen with success and money without knowing what you’re getting into. (24:09)
- How Aaron shifts his life and the habits that he adapted that raise him up again. (29:18)
- The lessons that he learned during his down moments. (31:12)
- The couple big things Aaron learned that went him to like a thousand of rental properties now. (33:50)
- Why Aaron gives away 30% of their income and profits to churches now. (35:31)
- How mentors have helped Aaron. (37:20)
- Setting the KeyStone Goal of the Year. (01:01:24)
- The importance of having a planner and a journal. (01:04:43)
Quotes:
- “There’s nothing that will teach us like our mistakes will.”
- “It’s the best thing that people should be judged on what they do after the mistake not the mistake.”
- “People’s pain levels are different.”
- “God putting the pieces together.”
- “It’s been really really fun to get to rebuild and change.
- “You have to hunt to find that value.”
- “Mistake is what creates the best memory and the best action.”
- “Don’t let anyone else decide how you should run your day.”
Resources Mentioned:
The 4-Hour Workweek by Timothy Ferriss
The Miracle Morning by Hal Elrod