Being an entrepreneur can be lonely. If you aren’t plugged into the right information, connected to the right people, or in a space where you can ask questions, your business is going to suffer.
Mike Hambright has been investing in real estate since 2008. Since then he has been busy with investments, coaching, and finding ways to give back and add value to others.
Today we talk about the impact of community, plus what Mike has learned this year from some of the top investors in the country. Listen in!
Read the Full Show Notes Below…
Make sure you subscribe to get the CarrotCast each week!
The Most Important Lessons In 2019 From America’s Top Real Estate Investors w/ Mike Hambright of Investor Fuel
As an investor, who do you turn to with your questions? Who do you bounce ideas off of before diving in headfirst? For Mike Hambright, his business has thrived simply by providing a community for others with shared interests.
Today, in addition to investing in real estate, Mike hosts two incredible podcasts, The Investor Fuel Podcast and FlipNerd. He works with many of the top real estate investors in the US! Mike also leads a mastermind which I am incredibly proud to be apart of, called Investor Fuel.
Mike first got into investing when he realized he wanted to be in charge of his own destiny. His whole life he had done the things he thought he was supposed to do. He got the degrees and the corporate jobs, but at the end of the day, his fate lied in the hands of someone else.
In 2008 he had had enough of the corporate life and dove into real estate investing with a no-fear attitude. That attitude allowed him to close on 65 properties that first year alone.
Mike continued to close these deals year after year but things began to get a bit more complicated. Instead of just flipping houses, now Mike was handling rentals, tapping into other types of real estate investment, and coaching up and coming investors, helping them to find their footing in this business.
Be A Go-Giver
At Carrot, a big part of our business relies on how we can give back. The Go-Giver was a book I read early on in my career which has completely altered the way I see business. Mike has adopted the same principals within his business, providing a forum for like-minded investors to connect. He has created a safe space where people can be open, vulnerable, and comfortable sharing details about their businesses.
Back when Mike first got into real estate, the internet wasn’t what it is today. People weren’t meeting and discussing ideas in the ways they are not. People kept information to themselves out of fear that someone was going to steal their next big deal.
It was then that Mike realized there needed to be a greater sense of community surrounding real estate. So many people were experiencing the sale triumphs and setbacks, yet had nobody to talk about it with. They were unable to find people who could relate and offer the insight they needed. One small idea shared from someone you may not normally connect with can completely alter your business for the better. It is through these connections that incredible success stories take place.
Sharing Your Best
I’ve noticed at CarrotCamp and other networking events in the past, that people can come into these situations with a bit of apprehension. They may not be open to being vulnerable about their defeats or they may be hesitant about sharing too much of their propriety information.
They are guarded and are not sharing their best information or the best version of themselves. I say to people, “if you aren’t sharing your best, you can’t expect others to.” Once the walls start to come down is when the best information is shared, ideas are sparked, and valuable partnerships formed. If you are able to eliminate your scarcity mindset, you will see just how much opportunity is out there for everyone.
Changing With The Times
Mike works with hundreds of top real estate investors from around the country. Some of the big themes he sees with his fellow investors is an inability to change with the times and investors becoming distracted from their goals by any new and shiny object that comes along.
Many investors can become close-minded and stuck in their ways. I hear a lot of people say things like “direct mail doesn’t work” or “PPC isn’t working like it used to.”
These things both still work, it’s the approach that needs to be changed. By sourcing the data themselves, stacking lists, and changing up their marketing message, investors all over the country are continuing to find success using these methods.
Remember, your goal isn’t to spend the least on marketing. It is to spend the most, monetizing your leads in multiple ways.
Building Your Community
Having the right people around you is beneficial in so many ways. As an entrepreneur, it is so important to not isolate yourself. You will want to stay plugged in and connected, especially as markets are beginning to shift. You can join masterminds, local community groups, and online communities.
Find a place where you can share your goals as well as your struggles. And don’t just limit your community to work, get involved with people of similar interests and faiths. Personality, building community has become a way of life, and the rewards continue to surprise me.