Loading summary
Brandon Brittingham
This is Wake up to Wealth, a podcast dedicated to helping you change the way you think about wealth. And now, here's your host, Brandon Brittingham.
Hey, everybody. Thank you so much for tuning in to another episode of Wake up to Wealth. Before we get started today, I just have to say thank you to everyone because we have hovered in the top five on Apple podcasts in the United States for the last 60 days, and we've gotten to the number two position. We're sitting at number three today. So I got to thank everybody out there for tuning in and listening. Never in my wildest dreams as I think I'd have a top five podcast in the United States. So thank you guys so much for your support and tuning in and listening, and it helps me get great guests like I'm having the privilege to have on today. A couple of weeks ago. It's funny how the world works because we coach somebody. Both of us coach the same guy, and for years, he's like, I've got to figure out how to get you two in the same room together or get you guys on a pot something. And what was really cool is we got on together, and it was like synergy from the absolute gate. It was really, really cool. And I said, man, we got to do this together. So today I've got a really, really special guest. I'm super excited about this. David Metzler is here with us, and I cannot be more excited to have him. Thank you so much.
David Meltzer
Well, congratulations. One of my podcasts, I've done 1930 episodes and only touched the top five a few times, hovering in the top 50 in the United States a lot of times. But it's quite an accomplishment and it says a lot about your community as well. So congratulations. And, yes, you know, we have shared in proximity great input and wisdom, and I can tell the impact that it's had on our friend Devin denofa and his community. So I am so excited to be here, and let's share our ideas and see where exactly we're going.
Brandon Brittingham
Yeah. So so many things I want to ask you, and we've got limited time, but one thing which is I think is really cool is the sports agency background that you were in. And I read in your bio that your company was the company that inspired Jerry Maguire. Is that true?
David Meltzer
Yeah. So I ran Lee Steinberg Sports and Entertainment, and Lee and Troy Aikman and Warren Moon. They all were in the movie Jerry Maguire. And Cameron Crowe followed the firm around for over a year, and Lee, who went to Berkeley, kind of impacted his vision of being this, you know, more humanitarian sports agent, which had never been seen before. And a lot of the stories were taken from Lee's experience as the most notable sports agent in the world. And so we are blessed to have that lineage with Cameron Crowe and Tom Cruise and Renee Zellweger and of course, Cuba Gooden Jr. To be a part of that project and the history of what is been deemed one of the greatest sports films of all time. But it's actually a love story with the backdrop of sports, which actually made it so good because men and women alike, they love a great love story. And we gave permission for men to go to watch a love story and we gave women a permission to go watch a sports film. And it's been a big part of my career of using industries, careers and jobs as backdrop to my passion and my purpose.
Brandon Brittingham
Yeah. So I also saw. I've, you know, followed your stuff for a while because the. Devin obviously, and I've seen you talk about it, mentioned a few times how you kind of got to the top of the mountain and then lost it all, which I think is part of many entrepreneurial stories.
David Meltzer
Right.
Brandon Brittingham
Myself included. You know, I'd love for you to just walk our audience through that because I think that's part of everyone's journey. Yeah.
David Meltzer
You know, I grew up in a world of not enough single mom, six kids. So I just wanted to be rich. I wanted to buy her a house and a car. And so everything I did, from my identity to all that I did say, think, feel and believe revolved around money. And so, of course, because I do have an extraordinary ability to commit to consistent behavior, I was rich right out of law school. Nine months out of law school, I became a millionaire. And I used that work ethic, that focus, clarity and balance in my life to facilitate being a multimillionaire. And the only negative of the ability to make over a hundred million dollars by the time I was 30 was that I started to actually believe that money could buy love and happiness. That money was my identity. And I was in store for rude awakening that although I left the world of not enough, where everything happened to me, that my money brought me to a world of for me, which I pretended was an optimistic philanthropical world, where the more I gave, the more I received. But in actuality, everything was a trader negotiation in my life. I actually had more scarcity than the love and abundance of my family upbringing. Although we were financially insecure and desperate at. I actually, although I was worth over $100 million, I was living in more scarcity, buying things I didn't need to impress people I didn't like. My richness was not wealth, because wealth is actually having your assets as, you know, part of the reason we're in real estate, having our wealth, is being able to make more money off of our assets than our expenses. And that wasn't the case for me the first time around. So for me, entering the world of more than enough took a hard basement. My basement had a basement. I lost over $100 million, went bankrupt primarily because of my ignorance and my arrogance. My arrogance that there was always going to be more ways to make money, and I didn't need anybody's help. And my ignorance was that I actually knew what I didn't know. And so for me, I learned a valuable lesson that there's only two ways to get what you want in life. One is to help other people get what they want. But two, it's ask people who sit in this situation where you want to be, to help you get what you want, to give you instructions and directions. People have already paid the dummy tax like you and I, Brandon. And so it's ironic that we've had the same journey. We both understood real estate, but it's not an accident or a coincidence that we're helping the same people get to where they want to be or better.
Brandon Brittingham
Yeah. So that's great. I mean, it's amazing points of clarity on that. So you've. You've done a lot of different things as an entrepreneur. Right. You know, there's. I could talk to you for hours about what you've learned, but kind of the journey that you've been on to now, like, what do you think is one really big piece of advice that you've learned that if. And you could give hundreds. Don't get me wrong, but if I had to nail you to one today that you said, if you do this or if I did this, this is the one gem I want to give you.
David Meltzer
Ask. Ask for help, especially with how accessible people are today. I mean, when you and I were younger, it wasn't easy just to reach out to people like us. I mean, we're so accessible. And I just find, even internally in my life, my family, my friends, and my employees, they don't ask enough. And let me explain the infinite loop of abundance to you, why it's so important to ask and why it is. The number one lesson that I teach myself again and again is most people think the more you give, the more you receive. That's absolutely True, but within the context of understanding that you have to understand the more you give, the more you're given. And so a lot of times we're given things, but it comes in a different form than we wanted it. And so we don't elevate our awareness to wow, Losing everything is actually a gift. Wow. This business deal that didn't go through, this property, I wasn't able to acquire, this loan, I wasn't able to get this investment that never happened is something I'm given, not punishment. And then more importantly, those people that are grateful and forgiving elevate their awareness to what they're given, then a lot of those people aren't worthy of receiving it. So they're constantly in the zero sum game of I'll give 100% to everyone. But you know what, I don't need all of it back. You know, that's good enough for me. Well, if you keep giving 100% and only taking 99% back, eventually you end up at zero. And then finally, where my piece of advice really hits home and means the most is that even the people that give more, given more, receive more, they don't ask for more than more. So if you don't ask for more than more, then you can't give more than more, be given more than more, receive more than more, and ask for more than more than more. So my biggest piece of Advice to everyone, 18, 28, 38, 48, 58, 68 and on, ask for help. Find people in a situation you want to be in, ask for help, keep asking for the deal, keep asking and asking and I promise you it'll be the greatest accelerant aggregate as well as give you exponentiality of outcomes than you can even imagine.
Brandon Brittingham
So we real world application. This isn't something you pulled out of the sky. I remember Devin texted me like I reached out to this guy David on Instagram and. And then he said he. And I looked him up and I'm like, what? And he's like, yeah, I'm going to go meet with him. You know, I'm going to ask him for his help. And I was like, dude, are you sure that wasn't a bot or a VA responded to you? He said, no, no, no, he responded to me. And then I think like three days later I went on, you know, this has been years ago, obviously I went on one of your post and I commented and you responded, let me know how I can help. And so that's not fictitious, you're just saying that a good friend of mine actually did this and formed a relationship with you by reaching out to you on Instagram, which is pretty wild.
David Meltzer
It's funny because I still. People don't believe me. I still look at my outbox every day of my emails to make sure every email has an ask either how can I be of service? Or join my free Friday training or would you like one of my books? I'll sign it, send it to you, pay for shipping and the book, which by the way, with your big community in your podcast, please reach out to me, David Meltzer.com I will sign a book, send it to you. I will pay for the book and shipping. So reach out if you want to meet up. As you know, Brandon, you know, Devin trusted me, Took a train in from Philly to New York City. I did a free meetup to answer questions and provide help to people in New York City. Like, 50 people showed up and he pulled me aside and asked me could I help him, mentor him, coach him and teach him. And of course I said yes. I have all types of buckets in order to help people. 90% of them are free. But more importantly, reach out davidmeltzer.com I promise you, I'm here or I know someone to help you.
Brandon Brittingham
You know, that's really important that you say that, because I think sometimes as entrepreneurs and you experienced it, and I know sometimes I experience it too. It's kind of like, man, I don't want to ask anybody for anything. And I will tell you that my life has changed dramatically when I did I get a real world scenario over the weekend. I was chasing a really large apartment complex, and I was in the middle of a deal, and I was in the water where I'd never been called. My good friend Bobby Castro.
David Meltzer
Yeah.
Brandon Brittingham
And Bobby's like, hey, I'm in the Bahamas. I'm just getting off a boat. Give me a few minutes. He called me back, he said, give it to me in five minutes. And he said, walk from the deal. And he probably saved me a couple years of my life. And the best advice he gave me in that phone call was, let the deals come to you. Don't chase. And that came from being at a mastermind and pulling him aside and asking him a question sparked a connection. And he's like, hey, here's my cell phone number. If you ever need anything, call me. So, I mean, it's, It's. I'm the same way, you're the same way. People don't think that it exists, but it does. I. I can't Say that. Enough of the advice you just gave. Don't be scared to ask, man.
David Meltzer
It's so funny because Bobby and I are both instructors at the A Hundred Million Dollar Mastermind, we really close friends, and I probably have used Bobby for five different deals in the same way. And out of the five deals, he saved me on four and gave me great advice to invest in one, which did really well, by the way. And so just simply by asking, he's probably saved me millions of dollars. But even more importantly, that's hypothetical because I don't know if he actually saved me, but he probably did. But I can tell you the one that he told me to invest in has made me millions of dollars as well. And so you gotta have those Bobby Castros in your life. And most of the people that are billionaires like Bobby, they wouldn't have gotten there without asking other people for help. So you make them feel so good, like way more than they got plenty of money. But when you call them and say, hey, man, thank you so much, you saved me millions or made me millions, they actually get greater joy and purpose in your success than they do their own.
Brandon Brittingham
Yeah, that's a really good point. That's a really good point. So now you've done so much, what are you up to nowadays? Where is your focus?
David Meltzer
Yeah, so it's creating content in every way. So podcasts, TV shows, I do interviews, live speeches, over 200 meetups, holding court masterminds every day. I probably do more interviews and content than anyone at least my age. I know that for sure. But more importantly, there's a reason I'm doing it. My purpose is to build a community of people that are here to help one another and know people that can help each other. It's my legacy. I'm on a mission to teach people how to make a lot of money, help a lot of people, and have a lot of fun to be happy. And I'm finding people like you, Brandon and Devin, and, you know, Bobby and all the people that are in our inner, inner circles, the spheres of influence that are going to empower other people to do the same, knowing that a thousand Bobby Castros and Devin Denopas and Brandon Birmingham, that you guys are going to empower a thousand. To empower a thousand. A thousand times a thousand is a million. A million times a thousands. A billion. So my job is to create as much wisdom and faith with my community so that we all benefit with a better and brighter world of people who live in abundance, are here to help one another and Know people that can help each other remember, one particle of light overcomes a million particles of darkness. And when you're shining in the top five podcasts in the United States, those particles of light are just shining. And we're creating unity, faith, and abundance that's going to help everyone buy from each other and sell for each other. And there's nothing better you want for a lifetime community than a bunch of people that are buying from each other and selling for each other?
Brandon Brittingham
Yeah, that's. I couldn't say that better. That's. That's powerful. We end the show every time in the same way. And. And I'm actually very excited to ask you this question. What is. We call the show Waking up to Wealth. My idea behind the show was to teach people and have a different spin on how to become wealthy. And that's why I choose to interview people like you. To you. And it can be anything. It's your version. What does waking up to wealth mean to you?
David Meltzer
I'm very pragmatic in my idea of waking up to wealth. So I want to achieve a point where my assets, the income from my assets are always greater than my expenses. That has nothing to do with being rich. And so if you can manage to derive income from your assets greater than your expenses, then you're wealthy. It could be $1,000, it could be $100 million. But that, to me, is true wealth, because the person whose assets are creating more income than their expenses, they can do what they want when they went what what they want with who they want for as long as they want, when they want. And that, to me, is freedom, joy, and happiness. So I have really subscribed to the rich dad, poor dad philosophy of wealth. And I want everyone to understand that we can build assets, especially through real estate, which is why Brandon's such a great mentor. Can create wealth for people by having our assets create more income than our expenses. And you can manage both sides of the fence and live this amazing, abundant life.
Brandon Brittingham
Where can people check you out, check out your content, follow you, you know.
David Meltzer
This everywhere, my brother. You could Google me. You could just put my name David Meltzer. Like seltzer with an M. David Meltzer. But my favorite is email me. I love to specifically find out how it can be of service or value. David meltzer.com. anyone that emails me, you can get my free book. I will sign it, send it to you, pay for shipping and the book. And I'm just blessed to have you in my community. And I am blessed that you're helping our friend Devin and so many other people that we know and share. I can't wait to see you in person next trip back east.
Brandon Brittingham
Thank you so much man. I appreciate you being on the show today.
David Meltzer
Thank you Brandon. Take care.
Brandon Brittingham
Thanks so much for tuning into this episode of Wake up to Wealth. We sure do appreciate it. If you haven't done so already, make sure you're subscribed to the show wherever you consume podcasts. This way we'll get updates as new episodes become available. And if you feel so inclined, please leave us a review on Apple Podcast and tell your friends about the show. It is how new people find us. Until next time.
Wake Up to Wealth: Unveiling Wealth Wisdom with David Meltzer - Episode Summary
Release Date: September 16, 2024
In this enlightening episode of the Wake Up to Wealth podcast, host Brandon Brittingham engages in a profound conversation with renowned real estate expert, entrepreneur, and wealth-building guru, David Meltzer. The discussion delves deep into David's illustrious career, personal journey to wealth, invaluable lessons learned from both success and failure, and his current mission to empower others to achieve financial independence.
Brandon Brittingham begins the episode by expressing gratitude to the listeners, highlighting the podcast's achievement of consistently ranking in the top five on Apple Podcasts in the United States. He attributes this success to the supportive community and the high-caliber guests who enhance the show's value.
At [00:18], Brandon introduces David Meltzer, sharing an anecdote about their mutual connection and the serendipitous collaboration that brought them together. Brandon remarks:
“David Meltzer is here with us, and I cannot be more excited to have him.” [00:40]
David Meltzer reciprocates the enthusiasm, congratulating Brandon on the podcast's success and emphasizing the impact of their shared insights on mutual connections like Devin Denofa. He states:
“Let's share our ideas and see where exactly we're going.” [01:42]
The conversation transitions to David’s illustrious background in the sports agency industry. At [02:21], Brandon brings up a fascinating aspect of David's career:
“I read in your bio that your company was the company that inspired Jerry Maguire. Is that true?” [02:40]
David confirms and elaborates on his role as the head of Lee Steinberg Sports and Entertainment, highlighting how the firm inspired the iconic film Jerry Maguire. He explains:
“We are blessed to have that lineage with Cameron Crowe and Tom Cruise and Renee Zellweger and of course, Cuba Gooding Jr. To be a part of that project and the history of what is been deemed one of the greatest sports films of all time.” [03:51]
David underscores the film’s success as a blend of love and sports, making it universally appealing:
“We gave permission for men to go to watch a love story and we gave women a permission to go watch a sports film.” [04:00]
Brandon pivots the discussion to David's personal entrepreneurial journey, focusing on his rapid ascent to wealth and subsequent financial downfall. At [04:11], Brandon invites David to share his story:
“You kind of got to the top of the mountain and then lost it all, which I think is part of many entrepreneurial stories.” [04:21]
David candidly recounts his upbringing in a financially strained household as a single mother with six children. His drive to secure wealth for his family led him to amass over $100 million by the age of 30. However, this success was coupled with a flawed belief system:
“Money could buy love and happiness. Money was my identity.” [05:12]
He reflects on his bankruptcy, attributing it to ignorance and arrogance:
“My arrogance was that there was always going to be more ways to make money, and I didn't need anybody's help.” [06:30]
Through his downfall, David learned pivotal lessons about the true nature of wealth and the importance of humility and seeking assistance. He emphasizes that real wealth lies in having assets that generate income exceeding expenses, a principle that diverges from merely accumulating money.
A significant portion of the episode centers on the transformative power of asking for help. Brandon seeks David's distilled wisdom on advice pivotal to financial success. At [07:43], Brandon asks:
“What do you think is one really big piece of advice that you've learned that if you could give hundreds...” [07:43]
David passionately advocates for the importance of reaching out for help, especially in today's connected world:
“Ask for help, especially with how accessible people are today.” [07:43]
He introduces the concept of the infinite loop of abundance, explaining that effective giving isn't just about generosity but also about being open to receiving in various forms. David warns against the zero-sum mentality where individuals give without expecting proportional returns, ultimately leading to depletion:
“If you don't ask for more than more, then you can't give more than more, be given more than more, receive more than more, and ask for more than more than more.” [09:25]
The discussion shifts to practical applications of asking for help, with both Brandon and David sharing real-life examples. Brandon recounts a personal experience where a friend, Bobby Castro, provided crucial advice that potentially saved him years in negotiations over a large apartment complex:
“My good friend Bobby Castro... gave me great advice to invest in one, which did really well.” [12:32]
David echoes this sentiment, highlighting how mentors like Bobby have been instrumental in his success:
“People don't think that it exists, but it does.” [13:16]
They emphasize that having reliable mentors and a supportive network is essential for navigating the complexities of entrepreneurship and real estate investment.
Transitioning to the present, David Meltzer outlines his current focus on creating diverse content to build a robust community. At [14:27], he shares:
“My purpose is to build a community of people that are here to help one another and know people that can help each other. It's my legacy.” [14:50]
He envisions a scalable impact where every individual empowered within his network can, in turn, empower others, leading to exponential growth in collective wealth and knowledge.
When prompted by Brandon about the personal meaning of wealth, David provides a pragmatic definition centered on cash flow from assets:
“I want to achieve a point where my assets, the income from my assets are always greater than my expenses.” [16:45]
He aligns his philosophy with the principles outlined in Rich Dad, Poor Dad, emphasizing that true wealth allows for freedom, joy, and happiness without being tethered to active income. This perspective advocates for strategic investment, particularly in real estate, to ensure sustained financial independence.
In the closing segments, David encourages listeners to connect with him for mentorship and resources. He offers an open invitation to reach out via his website, davidmeltzer.com, where he provides free signed books and personal assistance:
“Reach out if you want to meet up.” [11:00]
Embrace Humility and Seek Help: Success often requires acknowledging one's limitations and reaching out for guidance and support.
Define Wealth Strategically: True wealth is measured by assets that generate passive income exceeding personal expenses, ensuring long-term financial freedom.
Build and Nurture a Supportive Network: Cultivating relationships with mentors and like-minded individuals can exponentially accelerate personal and financial growth.
Adopt an Abundance Mindset: Understanding that giving and receiving are interconnected fosters a sustainable cycle of prosperity.
Leverage Real Estate for Financial Independence: Investing in real estate remains a proven strategy for building enduring wealth.
David Meltzer on redefining wealth:
“Wealth is actually having your assets ... being able to make more money off of our assets than our expenses.” [06:50]
David Meltzer on the importance of asking for help:
“Ask for help, especially with how accessible people are today.” [07:43]
David Meltzer on the infinite loop of abundance:
“If you don't ask for more than more, then you can't give more than more, be given more than more, receive more than more, and ask for more than more than more.” [09:25]
David Meltzer on community building:
“One particle of light overcomes a million particles of darkness.” [15:10]
This episode serves as a treasure trove of insights for aspiring entrepreneurs and investors. David Meltzer's candid reflections on his journey, coupled with actionable advice on wealth-building and community empowerment, provide listeners with a comprehensive roadmap to financial success. His emphasis on humility, strategic asset management, and the power of a supportive network underscores the multifaceted nature of true wealth.
For those seeking to transform their financial futures, tuning into this episode offers both inspiration and practical strategies to embark on the path to abundance.
Connect with David Meltzer:
Stay Tuned:
Subscribe to the Wake Up to Wealth podcast on your preferred platform to receive updates on future episodes filled with more expert interviews and wealth-building strategies.