Podcast Summary

Episode Overview

Podcast: Real Estate Investing School Podcast
Episode: 5. Taking Control of Your Own Life with Trevor Cowley
Release Date: August 8, 2022
Guest: Trevor Cowley (Entrepreneur, Podcaster: Real Business Owners)
Hosts: Brody & Joe Jensen

In this episode, Trevor Cowley shares his personal journey from humble beginnings to entrepreneurial success, emphasizing the critical importance of intentional relationships, discipline with money, resourcefulness, and playing the long game in business and life. While centered on real estate investing, his insights and stories transcend the industry, offering applicable wisdom for anyone pursuing self-improvement and financial freedom.

Key Discussion Points & Insights

The Power of Intentional Circles and Relationship Capital

• Building the Right Network

  • Trevor stresses surrounding oneself with high-caliber, like-minded people.
  • He invests significant resources annually to access high-level rooms and mastermind groups (e.g., Arete Syndicate, Apex).
  • Relationship capital trumps mere transactional business:

    “The reality is, we wouldn't be where we're at if we didn't have the relationships that we do... Every business that we've invested in outside of our own, it's all you're betting on the jockey, not the horse.” — Trevor [02:07]

• Finding and Entering the Right Circles

  • Invest in entrepreneurship groups, masterminds, or even affordable networking events (“$100 Dinner Club”).
  • Real connections are often made in person, not just virtually.
  • Being around givers and people with shared values naturally weeds out the unmotivated.

Success Principles and Habits

• Key Principle: Prioritize Relationships Over Transactions

  • Long-term success is rooted in adding value and building a trusted network, not just chasing money.
  • “If my business imploded today, I’d have everything to be successful still because it’s all stored in my cell phone. It’s all the contacts.” — Trevor [11:24]

• Law of Reciprocity

  • Focus on giving value first. Those who give prosper long-term, while short-term “takers” eventually lose out.

    “Takers can potentially win in the short term, but givers win long term.” — Trevor [15:54]

Learning From Failure and Adapting

• Favorite Failure:

  • Overbuilt backend systems for a business without testing marketing first, leading to wasted investment.
  • Important lesson: Always test your assumptions with a “minimum viable product” approach to marketing before committing major resources.

    “Test it to make sure that your theory is true. The hard part of any business is leads.” — Trevor [17:02]

• Adversity & Resilience:

  • Instagram business account deletion after significant investment became a blessing — pivoted and rebranded as “Real Business Owners,” which grew dramatically.
  • "Curveballs" in life are redirections, not merely setbacks.

Resourcefulness: The Ultimate Edge

• Upbringing:

  • Raised in poverty: 7 kids, cramped home, utility shutoffs, reliance on church welfare.
  • Early entrepreneurship: sold golf balls from local courses, mowed lawns, hustled to buy what family couldn’t provide.

    “I had the luxury of growing up poor... If I wanted something, I had to empower myself to figure out a way to get it.” — Trevor [26:47]

• Resourcefulness in Real Estate

  • Excuses like lack of money or credit are surmountable with creativity and hustle.
  • Deals can be done with no money down if you control the contract (wholesaling, partnerships).

Money Mindset: Discipline and Sacrifice

• Living Significantly Below Means

  • Trevor maintained a thrifty lifestyle even as his income grew, using savings to buy opportunities rather than luxury.
  • “It takes discipline to make money, but it takes even more discipline to make money and NOT spend it.” — Trevor [42:41]

• Building for the Future, Not Just the Present

  • Delayed gratification is crucial. Sacrifice for 5–10 years, reinvest, and eventually your investments can fund your lifestyle.

    “If you play the cards right… after five or ten years, you can taste [the rewards] forever.” — Trevor [52:05]

• Systemic Traps

  • The system “wants you enslaved to the system—debt, payments, paycheck to paycheck.”
  • It's possible to flip the system by using leverage (e.g., "house hacking" with multi-unit real estate).

Overcoming Limiting Beliefs

• On Self-Belief in Today's Social Media Age:
  • Many people feel they're “not good enough” due to comparison and limiting stories they've internalized.

    “You are good enough. You're good enough to do whatever it is that you want to do.” — Trevor [62:56]

Notable Quotes & Memorable Moments

• On Relationship Capital:

  "Everybody that we do business with, or that we surround ourselves with, are just like-minded people... You’re betting on the jockey, not the horse." — Trevor [02:07]

• On In-Person Networking:

  "You get a feed off their energy... It's a good way to reboot or refresh... You're just revitalized, ready to attack the week." — Trevor [06:37]

• On Failure as Tuition:

  "We put the cart before the horse... That was my tuition. I learned all the things that I needed to know to have the information that I have so that I can use it now to be successful." — Trevor [17:02]

• On Resourcefulness:

  "Resourcefulness is a big, big deal when it comes to entrepreneurship or business. Somebody might come across a real estate deal, that's a great deal, but maybe they're in the wrong position to capitalize on the deal. They have to get resourceful." — Trevor [33:57]

• On Sacrifice and Delayed Gratification:

  "If you do not make sacrifices, you are the sacrifice. That's how I put it." — Trevor [56:22]

• On Self-Worth:

  "You are good enough. You’re good enough to do whatever it is that you want to do. And if it’s important enough to you, you’ll find a way to make it happen." — Trevor [62:56]

Important Segments & Timestamps

• [00:00] — Introduction; Facing challenges when pursuing goals (Trevor’s opening insight)
• [02:07] — Importance of circles and relationship capital (“betting on the jockey”)
• [04:01] — How to find & access high-level entrepreneur groups
• [06:37] — Vital difference of in-person networking versus virtual connections
• [08:10] — Affordable networking (“$100 Dinner Club”) and the power of small but intentional investments into networking
• [11:24] — Guiding principle: long-term relationships over transactional thinking
• [15:54] — Law of Reciprocity in business and life
• [17:02] — Major failure: building without testing, “tuition” as the cost of lessons learned
• [26:47] — Growing up poor and early hustle; resourcefulness foundation
• [33:57] — Resourcefulness and why it’s crucial in real estate investing
• [42:41] — Money discipline, living below means, preparing for opportunity
• [51:01] — People raising spending to match income—"never able to get ahead"
• [52:05] — Long-term delayed gratification
• [56:22] — Systemic financial traps: sacrificing now or being sacrificed by the system
• [62:56] — “You are good enough”—advice to the world

Q&A Highlights

• Trevor's Bucket List (59:28):

  • Achieve a pilot's license and buy a plane, despite regulatory hurdles—a metaphor for overcoming old mistakes and setbacks.

• Definition of Freedom (61:13):

  • "Not being shackled down to a certain place at a certain time... If I wanted to get up and move and relocate across the country right now, could I?" — The ability to choose without constraint.

• Advice to the World (62:56):

  • If he could text everyone: “You are good enough.”

Connections & Resources

• Connect with Trevor/Business:
  • @RealBusinessOwners (Instagram, best for direct messages and engagement)
  • Real Business Owners (podcast available on all major platforms)
  • 60daycreditrepair.com (credit repair)
  • Easier Accounting (for business accounting services)

Summary Takeaway

If you want to radically improve your trajectory in real estate—or any arena—invest as much in people and relationships as you do in deals and tactics. Stay humble, stay disciplined, live below your means, embrace resourcefulness, and surround yourself with those who elevate your standard. And never forget: you’re good enough to earn your place at the table and build the life you want—no matter where you’re starting.