Apr 9, 2019
Most people don’t have a business that serves them. Instead, they run around crazily because their business is making them do lots of things. And, that’s not necessarily what they really want to do.
Today, my guest is Ron Phillips, founder and CEO of RP Capital. He has an amazing business and is ranked in the top 25% of the Inc. 5000. Ron describes how he mastered the way of doing business, how he conducts himself, and how his business serves him. Ron truly lives his life by design.
Topics on Today’s Episode:
- Millionaire Seeks Real Estate Apprentice: Ron showed up for big pitch fest for a bootcamp and bought it
- Ron became jaded with the seminar world and millionaire’s pitch: If I go find the deals and do all the work, he’ll fund them, and we’ll split them 50-50
- Ron did what he was taught - found a perfect deal, submitted it, and it was denied; the millionaire taught him how to do it, so “why do I need him?”
- HUD changed its guidelines, and Ron had houses he couldn’t sell; he was out of business and reinvented himself in the rental business
- RP Capital finds and fixes homes, puts renters in them, and helps people buy and get good deals
- Multifamily rules haven’t changed, some have gotten better; you don’t need tax benefits to succeed
- Real estate market will stall or stop at some point, so people who do it for tax deductions will have to pay; too many people are buying skinny deals
- Information gurus and guides try to sell you something, not train or protect you to make sure you do it right; all they want is your money
- Sales and negotiation are not taught; Ron was successful because he already had those skills; he gives away education - you only buy real estate from him
- Get Real (estate) Podcast: Educates people on the good, bad, and ugly parts of real estate business and life
- Self-made vs. Team: You can’t go do anything by yourself in this world; treat your team like you want to be treated with dignity, respect, and kindness
- RP Capital’s Purpose: Build people through services; company’s core values are integrity, loyalty, own it, and fun
Links and Resources Mentioned:
- RP Capital
- Get Real (estate) Podcast
- Inc. 5000
- Rich Dad’s Guide to Investing
- The Millionaire Mind
- HUD
- The Devil’s Advocate
- Collective Genius
- David Lindahl
- The Compound Effect
Quotes:
“I went out and found a perfect deal, exactly like what he taught us to do. Submitted it, and they denied it. I realized something. He taught me how to do it. Why do I need him?” Ron Phillips
“We had all these houses, and then I couldn’t sell them. I got shoved into the rental business. I finally realized...that this rental thing was not such a bad gig.” Ron Phillips
“That’s what I do in my current company. We help people invest all over the country, and it’s been so much fun changing people’s lives that way.” Ron Phillips
“The government can make the rules better, or they can make them worse. You don’t have to have the tax benefits to succeed. That’s just...a really big fat bonus.” Ron Phillips
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