My Worst Investment Ever Podcast Henry Eisenstein – Get References Before You Hire
BIO: Henry Eisenstein is a residential and commercial real estate agent and a real estate investor. He has personally sold and been a part of over $120 million worth of real estate transactions.
STORY: Henry blindly hired a contractor referred to him by a friend. The contractor was so bad at his job and a project that should have lasted eight weeks took six months. Instead of costing $35,000, Henry spent nearly $60,000.
LEARNING: Don’t hire a professional without references. Have good contracts in place that clearly outline milestones and timelines.
“Referrals are the easiest sales pitches in the world.”
Henry Eisenstein
Guest profile
Henry Eisenstein is a residential and commercial real estate agent and investor. He has personally sold and been a part of over $120 million worth of real estate transactions.
This success comes despite being a two-time college dropout and suffering from suicidal thoughts and depression from age 8 to 18.
Henry inspires others through his speeches on entrepreneurship, sales, mindset, and business at colleges and charity organizations around the US.
Henry has a coaching program called The Ultimate Real Estate Accelerator. The 12-month program helps realtors create a $1m net worth and design a lifestyle they desire. The regular price is $2,997 but will be $997 for My Worst Investment Ever podcast listeners! DM Henry “STOTZ” on Instagram @henryeisenstein, and he will get you set up!
Worst investment ever
Henry wanted to buy his first investment property as a primary residence using an FHA loan. The property was a four-bedroom family property. He searched for a contractor, and a friend referred one to him. Henry blindly trusted the friend. Everything seemed great.
What should have been a 6-8 weeks project turned into a six-month project. Initially, the project was a $35,000 job, but it turned into a nearly $60,000 experience. By the end of it, about 70% of the work was done six months later, and Henry had to fire the contractor before he completed the project because he was still asking for more money, and he was doing nothing.
Lessons learned
- Do your due diligence up front before you hire anyone.
- Get 2-4 recommendations at the very least when hiring any professional.
- Don’t hire a professional without references.
Andrew’s takeaways
- Have good contracts in place that clearly outline milestones and timelines.
Actionable advice
Before you sign anything with anybody, make sure you get multiple references and see proof of their work.
No. 1 goal for the next 12 months
Henry’s goal for the next 12 months is to buy 100 units in his investment company.
Parting words
“Don’t hesitate to reach out to the incredible mentors out there. We’re one message away from helping you out.”
Henry Eisenstein
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Connect with Henry Eisenstein
Andrew’s books
- How to Start Building Your Wealth Investing in the Stock Market
- My Worst Investment Ever
- 9 Valuation Mistakes and How to Avoid Them
- Transform Your Business with Dr.Deming’s 14 Points
Andrew’s online programs
- Valuation Master Class
- How to Start Building Your Wealth Investing in the Stock Market
- Finance Made Ridiculously Simple
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points