The Future Of AI And Real Estate
@tim_ensmann is betting on everything AI can't replace: real experiences, time with people you care about, memories that don't happen on a screen.
@tim_ensmann is betting on everything AI can't replace: real experiences, time with people you care about, memories that don't happen on a screen.
A job viewed through the right lens is getting paid to learn skills.
The number one mistake in business partnerships: skipping the hard conversations about who does what, who owns what, and what happens when things go wrong.
Brian openly admits a lot of people thought he was full of it for years before things clicked.
@tim_ensmann on building a track record before you're the key operator, get in the room with people doing the thing you want to do and find a way to add value.
@tim_ensmann on the numbers: bought the property for $1.5M, put in around $1M in renovations, and it recently appraised at $4.6 to $4.7M. Nearly tripled the value. EBITDA margin last year came in close to 50%.
@tim_ensmann on where the opportunity is in boutique hotels: 51% of the economy is owned by small business owners between the ages of 51 and 70, and they're retiring.
Every investment is going to be hard. Every Airbnb, every hotel, every business you buy comes with its own version of difficult.
@tim_ensmann breaking down the STR loophole: if you own the property, you can take up to $25,000 off your ordinary income, which directly reduces your tax rate on active earnings.
@codydberman breaks side hustles into four buckets, and says most people are stuck in the wrong one.
Some people are spending half their year in Puerto Rico just for the tax break, even if they don't actually want to be there.
The goal most people chase is becoming a full time investor to escape corporate and retire early.
@codydberman on what actually moves the needle on the path to financial freedom, 49% is how much you make, 49% is how much you spend, and 2% is what you invest in.
@codydberman and his partner each independently wrote down their top 10 values, then held them up against their bank statements, credit card history, and calendar.
Two sides to the same coin when it comes to money, the savers and the spenders. Both can be equally unhealthy.
By 25, Cody had 11 rental units bringing in $3,700 a month, a digital products business doing $10,000 a month, and $500,000 in the stock market. On paper he had hit financial freedom.
Evan on how he built up $100,000 in 0% business credit over several years using Chase cards.
Ashley Eaton on the mindset shift that changed how she builds: if your business relies on you being there, you don't have a valuable business.
Started with a single family rental in 2017, built a portfolio of five properties over the next several years, and landed at $4,000 a month in cash flow on $21,000 in gross rents.
The laundromat business started as a pivot, not a plan.
Good people need to get rich, because good people become business owners.
The best advice, make your vision so large that other people's visions can fit inside it.
Strategy isn't just knowing what to say yes to. It's knowing what to say no to.
Find the person who is already where you want to be and run their playbook.