How Winning Beliefs Brought Me Success | Joshua Christensen
Joshua will share how he overcame his fears, learned how to underwrite deals, and understood the whole syndication process. Each year became better and now he is reaping the results of hard work and determination. Listen to his story now!
Key Points From This Episode:
Joshua grew up in a working-class family. His mom was a property manager.
His first job was property development – walking around and picking up trash in the property.
He worked as a Mortgage Loan Manager through the crisis of 2008.
That was the most painful experience in Joshua’s professional career. They lost everything – lost their house, went into foreclosure, went bankrupt, and got emotionally devastated.
Now, he looks at it as one of the best experiences of his life because it made him realize that he needed to do something different.
He started studying and reading about house flipping and making money.
Assets, Liabilities, Income, Expenses – how do you recognize the relationship each has with each other and how do you put them together to formulate things?
He started learning about cash flow, good debt, and bad debt.
Fear represents everything we want that’s outside of our comfort zone that we have yet to achieve.
We have to look at fear as a doorway to everything we want.
To overcome fear, all we need is a little more information.
What are their important criteria in analyzing markets?
His goal is not to sell but to collect assets that his grandchildren will inherit someday.
One of the challenges he sees in short-term exit strategies is doing a disservice to the residents and staff of the property because one of the most disruptive things to residents and the staff is an ownership change.
Joshua believes there is a huge appetite right now for multifamily investing.
There is an influx of people teaching how to invest and there are more players entering the field.
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“I basically kinda look at it as the formula to success is to fail often, fail faster, and fail bigger.”
“The more information I got, the more I underwrote deals, the more I understand how the syndication process worked.”