Elevate with Tyler Chesser - The Real Estate Podcast for Investing, Mindset and Personal Development E295 K Trevor Thompson - How to Be An Obsessed Learner that Embraces Failure and Leverages Setbacks to Propel Your Success
Every investment deal is an opportunity to learn, and investors who take the time to reflect on their successes and failures can develop a more nuanced understanding of the business, as well as a more refined investment strategy. By being an obsessed learner, being ready to embrace failure, and using setbacks to your advantage, real estate investors can improve their chances of success and achieve their financial goals.
In this episode, we're joined by K Trevor Thompson, a real estate investor with an extensive background in the attractions and entertainment industry. Trevor shares his obsession with learning, embracing failures and learning from mistakes. He says setbacks teach us lessons that help refine our strategies and allow us to make informed decisions. Trevor's insights offer a unique perspective on the importance of investing in people, building scalable systems, and prioritizing the customer experience. Hear about Trevor’s journey and discover how to turn failures into opportunities and grow as a real estate investor!
Key Points from This Episode:
- Trevor talks about his backstory and traces his professional career in the attractions and entertainment industry.
- What motivated Trevor to enter the real estate industry?
- What are Trevor’s initial fears about real estate investing?
- How obsessively learning about real estate erased Trevor’s fear about investing.
- Why Trevor advises people to invest now rather than later in life.
- Trevor talks about the passive investments he has made and his changing roles in syndication as he willingly immersed himself in more active roles.
- Trevor reflects on the challenges and setbacks he had experienced and considers them invaluable lessons that made him a stronger, more committed, and smarter investor.
- What helped Trevor persist through the setbacks and challenges?
- Trevor explains what an obsessed learner is and its value to him as a real estate investor.
- How does Trevor apply his past work experiences to his present role as a real estate investor?
- Trevor talks about standard operating procedures or processes that are critical for establishing and scaling a real estate company.
- What mindsets are critical for continued growth?
- Trevor answers the Rare-AIr Questionnaire.
Tweetables:
“Things that go wrong are your world's greatest teachers.”
“I became an obsessed learner of real estate investing to the point now where I've invested in 20 syndications as an LP and three now as a GP.”
“In the beginning, I was always afraid of real estate, the toilets, tenants and trash. But once I understood what I was missing, it's not as intimidating.”
“Don't wait to buy real estate, buy real estate and wait.”
“Sooner or later, I'm gonna get my easy deal.”
“I've invested in a lot of different asset classes all for learning and earning.”
“If you're not making mistakes, we're not doing anything.”
“I've got one hand out and somebody's pulling me forward but I never forget to put one hand back and take somebody along.”
“Surround yourself with people that are better than you at what you do. If you're the smartest person in the room, you're in the wrong room.”
“Look for value in everybody and everything.”
Links Mentioned:
Rich Dad Poor Dad by Robert Kiyosaki
Be Obsessed or Be Average by Grant Cardone
The 10X Rule Book by Grant Cardone
What Got You Here Won't Get You There by Marshall Goldsmith
About K Trevor Thompson
Trevor is a successful vice president with 47+ years in the attractions and entertainment industry. He is highly observant, detail-oriented, and has a highly developed work ethic, values, and sense of history, and culture. He strives to maintain a harmonious environment offering service to others. Trevor communicates in group and one-on-one settings and is comfortable developing businesses, leading teams, and providing high-level results. He leverages these skills into his new passion - Real Estate Investing.
Over the past few years, he has become deeply passionate about learning real estate investing. Trevor is now a limited partner on 20 investments and a general partner in three syndications. He's an avid learner who’s continually connecting with like-minded people and is committed to helping 1,000 people attain financial independence through real estate investing.