Kane interviews Rob about his 18 years in business, unraveling insights on wealth and entrepreneurship. Rob emphasizes real estate as a stable income source and shares how his property projects funded his luxury lifestyle. Innovations sparked by a helicopter training experience led him to redefine freedom. He humorously discusses 'boy math' behind watch purchases and reflects on valuing lessons learned over possessions after a crash. The discussion enriches with networking's role in business and critiques societal norms around finance and health.
Rob's journey illustrates that property ownership is a crucial wealth-building strategy, emphasizing its potential for long-term financial stability and asset appreciation.
Despite societal narratives surrounding wealth, building positive connections with inspiring individuals can enhance personal growth and shift perceptions of success.
Emphasizing calculated risk-taking in entrepreneurship, Rob suggests aligning ventures with personal strengths to optimize outcomes and minimize failures.
Deep dives
The Reality of Renting vs. Buying Homes
Renting a home is often viewed as a better option than buying, particularly in some American circles, but this notion is misleading. Critics argue that paying rent equates to contributing to a landlord’s mortgage, which results in 100% dead money, while mortgage payments can eventually lead to ownership of a valuable asset. The perspective that one's own home is a liability stems from the simplistic view that anything requiring payment must be a burden; however, homeowners benefit from long-term appreciation and control over their living space. For long-term financial stability and personal comfort, investing in property is positioned as a far more favorable choice than renting.
Real Estate Myths and Historical Insights
Many believe that real estate markets are at risk of total failure, yet historical data suggests otherwise, emphasizing the long-term upward trend in property values. An analysis of property values dating back almost a thousand years in the UK reveals significant growth over time, counteracting fears of real estate depreciation. In contrast to speculative assets like cryptocurrencies, real estate provides a proven history, making it a safer investment choice. Therefore, while markets may fluctuate in the short term, the overall trajectory is toward increased value, making real estate a dependable investment.
Disruptive Thoughts on Wealth and Business
The pursuit of wealth is often intertwined with social perceptions, especially around notions of envy and the wealthy elite. Acknowledging this, successful individuals should not dismiss friendships with non-entrepreneurs, but rather selectively choose their circles based on energy and positivity. Many stereotypes surrounding wealthy individuals stem from media narratives that portray them negatively, driving a wedge between aspirations and realities. Fostering connections with those who inspire and motivate, while using their wealth of experience to learn, can shift perspectives on success and personal growth.
Navigating Risks in Business Ventures
In the world of entrepreneurship, understanding when to take calculated risks is crucial for success. One key principle is evaluating whether a new venture aligns with personal strengths and existing knowledge, as this can significantly reduce potential pitfalls. A strategy to manage new ideas includes maintaining an idea folder, allowing for reflection before committing to a new pursuit. Ultimately, the best business undertakings are those that integrate past insights, present knowledge, and future potential, supported by a cautious but adventurous approach.
The Complex Dynamics of Health and Wellness Industries
Criticism toward the pharmaceutical industry underscores a belief that profit motives often overshadow patient care, with many questioning the industry's true commitment to healing. The suggestion is made that true health relies more on individuals' lifestyle choices—like diet and exercise—rather than solely on medication. As health becomes more foundational to success and happiness, understanding how societal pressures influence health decisions remains essential for informed choices. This self-awareness armed with better financial literacy can empower individuals to prioritize their well-being and challenge existing paradigms.
After 18 years in business, Kane asks Rob 18 key questions about entrepreneurship, wealth and more. In true Rob style, he shares some of his controversial opinions and takes on the world, money and power and reveals some of his best stories from 18 years in the game.
KEY TAKEAWAYS
In 18 years, Rob turned a single property development into a seven-figure annual income stream, proving his belief that property remains the most reliable wealth builder. His Aspect House project alone could fund retirement for his entire family.
Through building multiple revenue streams, Rob demonstrates luxury purchases should be funded by asset income - his income-generating property project paid for his Lamborghini Aventador, Aston Martin DBS, and Porsche 911 Turbo.
Rob's helicopter training taught him true freedom - being completely alone in the air gave him a sense of liberation beyond financial independence!
After crashing a Ferrari 458 Spider and causing one of the "world's most expensive crashes," Rob learned that material possessions matter less than the lessons they teach. He still made money selling the crashed car!
Rob's watch collection, including a Richard Mille worth more than his helicopter, taught him about "boy math" - the art of justifying emotional purchases with investment logic. He admits most watch purchases are emotional decisions wrapped in investment rationales.
Starting at age 27 instead of earlier remains Rob's biggest regret. He believes this delay potentially cost him billions in compound growth, making inaction his riskiest business decision.
Rob built a network of 26 billionaires through his podcast, which generates 150-200 million views annually. He values these relationships more than the tens of millions in revenue the podcast generates.
From managing 1,350 tenants, Rob learned that property success comes from treating good tenants well, offering lower rents for longer terms to maintain occupancy.
Initially £50,000 in debt, Rob's perception of wealth changed dramatically. He discovered most wealthy individuals weren't the tax evaders media portrayed, but rather people focused on value creation.
Rob's most difficult business decision was firing a family member, teaching him that company success must sometimes supersede personal relationships.
BEST MOMENTS
"90% of businesses fail in 1-3 years”
"If you want to taste true freedom, fly solo in a helicopter for the first time. I've tasted financial freedom, location freedom, even freedom of the mind at times. But nothing compares to that moment."
"Most Americans will say it's better to rent than to buy a house... but 100 percent of rent is dead money. When you pay rent, you're paying off the landlord's mortgage. Might as well pay off your own mortgage."
"The pharmaceutical industry as a whole has no incentive to heal or cure you, and it will profit the most keeping you ill for the rest of your life but not dead."
"Don't forget where you're going and be more focused on where you're going than where you came from. A lot of people who want to hold you back to where you came from are still there."
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”