A Real Estate Deep Dive with Pace Morby and Jamil Damji
May 11, 2024
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Join Pace Morby and Jamil Damji as they share insights on real estate success, emphasizing the importance of relationships, learning from failures, and the power of reciprocity in business. They discuss strategies like 'SubTo', wholesaling, and the evolution of an entrepreneurial mindset. Dive into stories of partnership, mentorship, and the impact of supportive circles on achieving success.
Building strong relationships is crucial in real estate deals for success and growth.
Learning from failures and seizing new opportunities are essential in entrepreneurial journeys.
Mastering creative deal structuring and the power of communication are key in real estate acquisitions and partnerships.
Deep dives
Building Relationships and Successful Real Estate Deals
The podcast delves into the importance of building strong relationships in real estate deals. The speakers emphasize the magnetism and consistency that can draw people to work with individuals who showcase authenticity and transparency. Storylines about acquiring properties, cultivating solid relationships with attorneys, and capitalizing on opportunities highlight the key role relationships play in successful acquisitions and business growth.
Entrepreneurial Journey: From Web Design to Real Estate Deals
The episode traces the entrepreneurial journey of one speaker from selling websites at a loss to discovering the real estate acquisition business. Through a series of strategic acquisitions and clever flips, a significant profit was made that shifted the focus from web hosting woes to lucrative real estate investments. The narrative underscores the transition from a struggling web design business to a profitable real estate venture, propelled by learning from failures and seizing new opportunities.
Mastering Creative Acquisition Strategies in Real Estate
The podcast discusses the art of masterful real estate acquisitions, spotlighting creative strategies like subject-to deals and identifying distressed property opportunities. Key insights reveal the power of magnetism in attracting lucrative deals and the significance of consistent, transparent communication in business relationships. The speakers share experiences of unconventional property acquisitions and emphasize the importance of seizing opportunities, learning from setbacks, and mastering the art of creative deal structuring in the real estate industry.
Navigating Partnerships and Mentorship in Business
Building successful partnerships in business requires clear alignment and shared goals. The podcast delves into the importance of understanding each other's motivations and creating mutually beneficial arrangements. By sharing personal experiences with partnerships and mentorship, the speakers highlight the valuable lessons learned through challenges and misalignments. Emphasizing the significance of communication, trust, and evolving perspectives, they stress the need for genuine connections and a common vision for long-term success.
The Power of Mentorship and Purpose in Business Growth
The episode underscores the transformative impact of mentorship and purpose-driven practices on business growth. Through candid anecdotes and reflections on their entrepreneurial journeys, the hosts underscore the role of mentors in shaping mindset and decision-making. They discuss the dynamic nature of relationships with employees and the shift towards a culture of collaboration and purpose. Encouraging listeners to nurture meaningful connections and focus on larger goals beyond financial success, the speakers advocate for continuous learning, self-awareness, and empowering team members for collective achievements.
Welcome to a new episode of Get Creative. In this episode, I joined Jamil Damji on The Clever Investor Show. We dive into our journeys through real estate, from thrilling success to challenging lessons learned along the way. Join us and learn more about making 7-figures in the real estate world and get a good dose of inspiration to fuel your path to success.
Highlights:
"I’m over 5000 [deals]... But it pales in comparison to the relationships that I’ve made in doing that volume of transactions."
"Every single time you do a deal, you're learning. You're failing forward, you're understanding what to do next time."
"For every new level there's a new devil. And I think that every one of those opportunities that is given to you, while you don't see it in the time, is a blessing for a learning moment."
Timestamps:
00:22 - Introduction to Pace Morby and Jamil Damji
04:59 - The Significance of Relationships in Business
17:04 - Explaining the 'SubTo' Real Estate Strategy
22:39 - First Steps in Wholesaling
32:04 - Building and Sustaining Professional Relationships
