170,000 Agents Worldwide: How To Build The Biggest Real Estate Company In The World with Gary Keller

"Never borrow money because you need it. That's the #1 rule. When you borrow money, borrow it because it's strategic, not because you need it." - Gary Keller

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Building a business should never be solely about the money.

Instead, make it about doing what you love, in addition to making the most money. When you add passion to your mission statement, the money will come in even greater quantities because people will feed off the shared love for the project. This will also keep your operation in check, as you will continuously be tempted by lucrative avenues that test your moral compass but tempt your profit agenda.

On today's episode of The Real Estate Mastermind Show, we are joined by Gary Keller of of Keller Williams Realty International to discuss the best ways to approach making money in real estate. Gary is the Co-Founder of Keller Williams Realty, the largest real estate franchise by agent count in the world. His books include include The Millionaire Real Estate Agent, The Real Estate Investor, and The ONE Thing. In this discussion, he takes us through his mindset, from financing to operations, and how borrowing money should always be strategic, not out of necessity.

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"You don't want to wait for the market to catch up to what you pay. If you're an individual investor, you want to buy something that you can actively change the value." - Gary Keller

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Points to Keep In Mind

• The fastest path to financial wealth is starting a small business
• • Or working at a company with a big upside that will give you stock
• The number one pitfall of new real estate entrepreneurs is not understanding value
• Don't wait for the market to catch up to what you pay
• • Instead change the use or zoning of the property to actively change the value
• Never borrow money because you need it; borrow because it's strategic
• Try to maximize your rate of return within the margin of safety (risk-adjusted return)
• Charlie Munger says you get rich "step-by-step," not in fast spurts
• Your goal should be: make the most most money doing the things you love doing