Real Estate Investing School Podcast: Episode 173

Title: Aligning Life Goals with Real Estate Success
Date: July 8, 2024
Host: Joe Jensen
Guest: Brody Fawcett

Episode Overview

In this candid conversation, host Joe Jensen and recurring guest Brody Fawcett explore how to intentionally align life goals and personal priorities with real estate investing strategies. They trade actionable lessons on market navigation, adapting investment approaches as life evolves, leveraging unique opportunities, and cultivating mindfulness in both business and personal fulfillment. The episode blends stories from their journeys, investment philosophy, and tactical advice, with Brody sharing insights on niche projects and Joe discussing his "Love and Life" framework.

Key Discussion Points & Insights

1. Navigating Today’s Real Estate Market

(01:39–08:12)

• Don’t Overweight the Market:
  • Brody cautions against obsessing over market timing:

    "Letting that hold you back from investing and from moving forward is gonna hurt you way, way, way, way, way more than it is. Understanding the market perfectly and waiting till you understand it." (02:13, B)

  • Joe underscores adaptability, not interest rates, as his core strategy:

    “If I run the numbers and it cash flows and...fully covers its debt, I'm good to go.” (02:52, A)

• Focus on Market Dynamics, Not Predictions:
  • Brody: “Understanding how the market works, not what the market is.” (05:48, B)
  • Market shifts contain opportunity if you recognize which levers are moving.
• Speculation vs. Investment:
  • Joe:

    “If the decisions you're making are really heavily weighed by the market, you're speculating, you're not investing.” (07:18, A)

2. Diversification of Strategies & Principles

(10:26–14:08)

• Brody’s Niche Approach:
  • From student housing to tiny home resorts to glamping—Brody’s methods evolve but core investment principles remain: maximize cash-on-cash return and cash flow to fund life ambitions.
• No One-Size-Fits-All:
  • Real estate must be customized to the investor and also to their current stage in life; what worked five years ago may not be what’s right today.
  • Joe:

    "It's not even different just for every student or every investor. It's different for every investor every couple years." (12:48, A)

• Value in Changing Your Mind:
  • Brody: “A lot of times we need to look at it the other way around. Like, it's a good thing to change your mind. It means you're growing.” (14:15, B)

3. Purpose Alignment: The Love and Life Framework

(18:39–24:57)

• Joe's Three Pieces of Purpose:
  • Experience, Serve, Create.
  • At different life phases, each should have different weight—recognize and accept which one dominates your current season:

    “Depending on different times in your life, you're going to pivot how much you focus on those different parts... There'll be a time to do the next.” (21:36, A)

• Prioritizing Family and Service:
  • Joe discusses choosing family moments over personal experiences when priorities conflict:

    “…when there's a conflict, I don't have to emotionally like, oh, what should I do? It's like, oh, well, decision's easy because this is the period I'm in.” (24:25, A)

• Embrace Life Phases:
  • The hosts agree embracing the current phase (e.g. service while raising young kids) brings patience and reduces dissonance.

4. Guarding Focus and Building Habits for Alignment

(26:40–28:56)

• Time-Blocking & The Athlete’s Mindset:
  • Brody and Joe share tactical advice:
    • Block your time, protect focus, only handle tasks in their designated block.
    • Train your attention like a pro athlete trains their sport:

      “Focus and attention is like, your greatest skill and your greatest asset, and you need to, like, hone that and train that consciously.” (28:56, A)

• Recommended Resources:
  • Master Your Focus (James Clear)
  • Free to Focus (Michael Hyatt)

5. Real Estate as a Conduit for Experiences and Fulfillment

(14:34–18:04)

• Brody’s Project Inspiration:
  • Creating “experiences” at retreats and resorts that impact others’ lives.
  • Real estate serves as a vehicle for fulfillment, not just financial return:

    “…you're combining it in a way where you get to utilize real estate, you get to utilize creating experiences, you get to utilize working with your friends and that creativity side of your brain. And then the cash flow is insane to top it all off.” (17:08, B)

6. Taking Action: Learning by Doing

(44:11–47:27)

• Action > Analysis:
  • Joe:

    “You will learn more by taking action than by any other way. But...you can take reversible actions.” (44:15, A)

  • Encourages getting deals under contract, even if you ultimately don’t buy—critical nuances are only revealed in the process.
• Systems for Accountability:
  • Use measurable habits (LOIs per month, deals under contract) to push students beyond learning into execution.

7. Multi-Step Goals and Evolving as an Investor

(48:30–50:03)

• Experienced Investors:
  • Develop multi-step goals and honestly assess which stage you’re at—then apply “blinders” and trust the process for your current step.
  • Brody: Recognizes the trap of sticking to outdated methods as you level up—know when to change old habits as your time/value equation evolves.

8. Mindset, Creativity, and Expanding Possibilities

(51:37–61:20)

• Principle of Infinite Solutions:
  • Brody shares about vastly different lending experiences emphasizing the importance of never taking “no” as final—seek more options, ask different questions.
  • Story about appraisal coming in low:
    Series of solutions (renegotiating, seller finance, new appraisal/lender, creative credits, partner for down payment) demonstrates the power of creative persistence.
• Entrepreneurial Definition:
  • “Entrepreneurship is the gap between what you want and the resources currently available to you.” (62:25, B)
  • The best investors make up that gap through resourcefulness and tenacity.

9. Memorable Quotes & Moments

• On Overvaluing Market Timing:

  “Letting that hold you back from investing and from moving forward is gonna hurt you way, way, way, way, way more...” —Brody (02:13)

• Custom Strategy Principle:

  “There isn't one. Like that's the whole point is these are one on one things because it is different for everybody.” —Joe (12:48)

• Purpose & Life Phases:

  “Lean into what is setting you on fire and there'll be a time to do the next.” —Joe (21:36)

• Attention as an Asset:

  “Focus and attention is like, your greatest skill and your greatest asset, and you need to, like, hone that and train that consciously...” —Joe (28:56)

• On Missed Opportunities:

  “What's everybody's biggest regret with real estate? ... wish I had bought more sooner.” —Joe (33:16)

• On Taking Action:

  “You'll learn more by doing than what I can just keep telling you because there's so many little nuances...” —Joe (46:41)

• Resilience in Investing:

  “You just, you don't take ‘no’ for an answer. Like, when you want something bad enough, you figure out a way to make it happen and go get it done.” —Brody (61:29)

Notable Timestamps

• Market Mindset Analogy: 03:41
• Speculation vs. Investing: 07:18
• 'Love & Life' Framework Intro: 18:39
• Focus/Time Management Strategies: 26:40–28:56
• Action-Based Learning: 44:11–47:27
• Creative Problem Solving (Appraisal Story): 53:55–61:20
• Entrepreneurial Mindset Definition: 62:25

Conclusion & Takeaways

The episode centers around the message that real estate is both a tool for financial achievement and a platform to design a fulfilling, intentional life. Success is less about perfect timing, more about cultivating the right mindset, embracing life’s phases, and turning possibility into reality through action and creativity. Align your investment strategy with your unique goals, prioritize focus and presence, and never stop seeking new paths to move forward—even when the way isn’t obvious.

Final Thought:

“Guard your attention and use it wisely.” —Joe Jensen (67:30)

For additional resources or to explore Joe’s Love & Life Framework:
Visit: josephfjensen.com

To learn more or seek investing accountability:
Check out Real Estate Investing School and reach out via their channels.