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Multifamily Legacy Podcast

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  2. 016: Building Your Legacy From the Ground Up

016: Building Your Legacy From the Ground Up

Jan 16, 2018

Brayand Ponciano is here today to share his amazing story. He is a guy who started at the bottom, but had a huge drive that pushed him to the top of his game. Like all of us, he had his self-doubts, but that didn’t stop him from becoming a successful entrepreneur and real estate investor. I’ve known Brayand for a long time. He actually started out with bandit signs, and now he is closing on his first apartment complex. He shares his story and more in this lively episode.

Topics on Today’s Episode:

  • Brayand shares how he grew up in South Gate in the Los Angeles area.
  • His parents were immigrants, and growing up poor a lot of these dreams of money and real estate didn’t seem very doable.
  • Brayand shares how his mom wanted her kids to understand what it was like to be poor, so they would appreciate what they have.
  • The difference between being confident as opposed to arrogant.
  • Brayand saw the Carlton Sheets infomercials and wanted to get involved in real estate and started selling mobile homes.
  • He answered an ad which he assumed wasn’t legitimate, but it turned out to be posted by Derek Jarr of GreenStreet Communities.
  • Derek hired Brayand and gave him door knocking opportunities. The first guy with whom Brayand went knocking on doors was Brian North in 2007.
  • They go through a list of people who are going through foreclosures. They would get a lot of denial and anger, but it was good experience.
  • The market crash ruined Brayand’s first foray into real estate, but he didn’t give up.
  • Out of desperation Brayand made a list of ways to make money. Through the process of elimination he decided to place bandit signs and was hoping it would get him back into the real estate game.
  • How you may have to take a step back and get a full-time job or a side job in order to make it.
  • You have to be willing to do whatever it takes that is legal and ethical.
  • How not having money actually makes you more discerning when it comes to picking and choosing deals.
  • Find out who you are because it is a big part of success. Be true to yourself and be who you are.
  • The importance of breaking belief patterns and assumptions that can hold you back.
  • Corey introduced the concept of other people’s money to Brayand. Even though he had some self-doubt, he got his first deal and it shot up his confidence level.
  • How we can be our own worst critic in our minds.
  • Going from fixing and flipping and transitioning into multifamily. You need a credibility kit to show that you have done deals and bought and sold properties.
  • Perception is reality and Brayand is trying to transition to someone with more of a public persona.
  • Line up money and line up a deal, but get away from the house. You aren’t a contractor or an errand runner. With this method you can do multiple flips at once.
  • Learning how to leverage and use other people’s money and finding private investors.
  • WIIFM or “what’s in it for me” is what your investors care about.
  • Brayand likes giving back, giving his investor’s a better return, and automation.
  • He used this strategy to move into multifamily properties after he used a lease option sandwich for some homes.
  • He loves the cash flow thing, but not doing one deal at a time.
  • As he progressed and let go of control, this led Brayand to where he is now.
  • The concept of looking down the line. It’s not about you, it’s about the investors. You want them to want to give their money back to you when you pay them.
  • The power of OPM.
  • Remember WIIFM. People care about what you can do for them. Then find a way to present that to them.

Links and Resources Mentioned:

Quotes:

“I agreed with the message of other people’s money, but growing up poor it didn’t seem possible for me.” Brayand Ponciano

“Getting into real estate was like something out of a dream for me.” Brayand Ponciano

“When I was 19 I got a job at Ross, and my parents and family thought it was a good job. Once you grow up poor, it really programs you to stay poor. ” Brayand Ponciano

Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.