The Money Mondays: Episode 105 โ What Does It Take to Become a Real Estate Investor in 2025? Featuring Albert Preciado ๐๏ธ
Release Date: January 27, 2025
Host: Dan Fleyshman
Guest: Albert Preciado
Introduction
In Episode 105 of "The Money Mondays," host Dan Fleyshman welcomes Albert Preciado to a special recording outside the usual RV motorhome setting, taking place in Albert's penthouse office on Sunset Boulevard. This episode delves deep into Albert's journey in the real estate and mortgage industries, his strategies for wealth accumulation, the importance of personal branding, and his philanthropic endeavors aimed at empowering the Latino community.
Albert Preciadoโs Journey and Success in Real Estate (00:00 โ 02:19)
Albert Preciado opens up about his humble beginnings as a first-generation Mexican American. Born in the U.S. but raised with roots in Mexico, Albert faced numerous challenges, including limited English proficiency and educational setbacks.
- Albert (01:35): "Just a Mexican American kid, first generation... I didn't speak English till I was seven. And former ESL student, special ed student, college dropout."
Despite these obstacles, Albert ventured into sales and mortgages, eventually founding his own mortgage company 13 years ago. His tenacity paid off as he amassed his first million dollars through mortgage and real estate sales, eventually scaling his operations to achieve $30 million in annual revenue by 2021.
Making Money in Mortgages and Real Estate (02:19 โ 03:18)
Albert outlines the lucrative nature of the mortgage and real estate sectors. He explains the commission structures that make these fields financially rewarding.
- Albert (02:30): "When you sell a mortgage, you make two and a half percent commission... We're selling mortgages and real estate, which doubled our commissions."
By expanding into escrow services, Albert's businesses now earn commissions from multiple streams, with escrow deals sometimes yielding up to $60,000.
Building a Personal Brand and Driven Event (03:18 โ 06:22)
Albert emphasizes the critical role of personal branding in scaling his business. By developing a strong personal and company brand, he attracted high-profile speakers and influential figures to his events.
- Albert (03:50): "Driven is going to become the next Virgin."
He discusses the Driven Event, an annual gathering premiering in March, featuring esteemed speakers like Mark Shapiro, Josh Altman, and Mario Lopez. The event's success is attributed to a dedicated sales force and a robust organizational structure.
Sales Strategy and Team Management (06:22 โ 10:35)
Albert shares insights into his highly effective sales strategy, which includes a structured sales force comprising appointment setters and closers. He underscores the importance of:
- Strong Mindset
- Genius Marketing
- Exceptional Sales Skills
- Expertise in the Field
- Extreme Work Ethic
- Albert (09:07): "You have to remain humble to be disciplined and be a student because you want to get better."
He credits mentors like Ed Mylett for shaping his sales acumen and overall business philosophy.
Investing in Mentorship and Personal Growth (10:35 โ 16:19)
Albert advocates for substantial investment in mentorship as a cornerstone of personal and professional growth.
- Albert (14:04): "Best advice I'll give anybody here... hire mentors. Pay people $10,000, $20,000... One-on-one is the best way of learning."
He recounts how mentorship transformed his trajectory, leading to the establishment and expansion of his mortgage and real estate empire.
Furthermore, Albert advises focusing on high-impact businesses, dedicating the majority of time and resources to ventures that generate significant revenue, while minimizing involvement in less profitable endeavors.
Guidance for Young Entrepreneurs (16:19 โ 21:19)
Addressing young adults, Albert stresses the importance of financial discipline over conspicuous consumption.
- Albert (16:40): "It's not time for a car yet. Live below your means, save money, invest it, stack it."
He warns against falling for the allure of luxury items like Lamborghinis and Ferraris prematurely, advocating instead for building a solid financial foundation.
Albert also tackles the societal stigma around discussing money, arguing that openness about finances is crucial for personal and communal success.
- Albert (20:09): "People that are broke and don't like to talk about money, they're the most selfish people in the world."
Philanthropy and Giving Back (21:19 โ 31:46)
Albert passionately discusses his commitment to philanthropy, particularly within the Latino community. He aspires to establish Driven Charity, aimed at supporting Latino children and families.
- Albert (25:31): "The Latino community is 20% of the U.S. population, and they need help... I want to help Latino American kids."
He shares innovative giving strategies, such as the $100 Tipping Club, where groups collectively tip restaurant staff generously, fostering a culture of gratitude and support.
Dan Fleyshman complements Albert's efforts by sharing his own charitable initiatives, highlighting the impact of collective giving.
Future Vision and Legacy (31:46 โ 36:50)
In contemplating his legacy, Albert expresses a desire to ensure his wealth benefits society at large rather than solely his descendants.
- Albert (32:25): "I want to leave everything to the world. I want to donate everything, leave my children a little so they can start something."
He envisions creating educational institutions like Driven School, where graduates earn their financial support, promoting self-sufficiency and responsibility.
Albert also touches on the ephemeral nature of life, emphasizing the importance of valuing time over wealth.
- Albert (34:00): "Time is impossible to get back... money is easy to make, time is impossible to get back."
Closing Remarks and Online Presence (36:38 โ End)
Albert concludes the episode by encouraging listeners to engage with his online presence by simply searching his name, ensuring accessibility to his wealth of resources and initiatives.
- Albert (36:44): "Just Google me, Albert Preciato."
Dan Fleyshman wraps up by reiterating the mission of The Money Mondays to foster open discussions about money, finance, and investment, urging listeners to apply the insights shared in their daily lives.
Key Takeaways
- Diversification of Income Streams: Leveraging multiple facets of the real estate and mortgage industries can significantly amplify earnings.
- Personal Branding: Building a strong personal and corporate brand is essential for attracting opportunities and scaling businesses.
- Sales Mastery: A well-structured sales team with specialized roles and a robust sales strategy is pivotal for business success.
- Mentorship Investment: Investing in mentors can accelerate personal and professional growth, providing invaluable insights and guidance.
- Philanthropy: Giving back, especially to underserved communities, not only fosters societal growth but also cultivates a culture of generosity and support.
- Financial Discipline for Youth: Encouraging young entrepreneurs to prioritize savings and investments over premature luxury spending lays a solid foundation for future wealth.
- Legacy and Impact: Focusing on creating a lasting, positive impact on society ensures that wealth contributes to broader communal advancement.
Notable Quotes
-
Albert Preciado (01:35):
"Just a Mexican American kid, first generation... I didn't speak English till I was seven. And former ESL student, special ed student, college dropout." -
Albert Preciado (03:50):
"Driven is going to become the next Virgin." -
Albert Preciado (02:30):
"When you sell a mortgage, you make two and a half percent commission... We're selling mortgages and real estate, which doubled our commissions." -
Albert Preciado (14:04):
"Best advice I'll give anybody here... hire mentors. Pay people $10,000, $20,000... One-on-one is the best way of learning." -
Albert Preciado (20:09):
"People that are broke and don't like to talk about money, they're the most selfish people in the world." -
Albert Preciado (32:25):
"I want to leave everything to the world. I want to donate everything, leave my children a little so they can start something." -
Albert Preciado (34:00):
"Time is impossible to get back... money is easy to make, time is impossible to get back."
Conclusion
This episode of "The Money Mondays" offers a comprehensive look into Albert Preciado's strategies for achieving and sustaining substantial wealth in the real estate and mortgage industries. His insights on personal branding, sales mastery, mentorship, and philanthropy provide invaluable lessons for aspiring entrepreneurs and investors. Albert's commitment to empowering the Latino community through his philanthropic efforts underscores the broader impact that financial success can have on society.
Listeners are encouraged to reflect on their financial strategies, invest in personal growth, and embrace the ethos of giving back to create a lasting legacy.
Find Albert Preciado Online:
Simply Google "Albert Preciado" to explore his ventures, philanthropic initiatives, and personal brand.
Stay Connected with The Money Mondays:
Visit themoneymondays.com for more episodes, resources, and opportunities to engage with the global Money Mondays community.
