JC 077: Working Smarter, Not Harder with Gary Boomershine

October 21st, 2019 | no comments

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JC 077: Working Smarter, Not Harder with Gary Boomershine

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How to Think Like a Banker

With a family legacy in the real estate market and a long successful career in enterprise and emerging technology markets, Gary Boomershine had the vision for a business, RealEstateInvestor.com.

Gary capitalized on the opportunity to leverage people, processes and technology to gain a leg up in a cyclical, changing and competitive real estate marketplace. He experienced his real estate business flourish with technology that allowed him to work smarter – not harder and stay focused on the one thing that makes money, talking to sellers and making offers.

Tune into Gary and John’s conversation in “The Real Estate Locker Room” as they discuss the strategy for using your time and money wisely.

Five Key Points:

Everything is cyclical, and the markets circle every 8-10 years. You can get “squished” at the turn of the market so you must change with it.
High-risk investments are with rehabs right now. Wholesaling is a sound strategy right now until a change in the real estate market.
Mindset: Think like a banker. The business model that banks use works. The banker is the person with power because they have the money and is the 1st to get paid.
Gary’s current strategy: 1st position loans, backed by property he can see. Currently doing super low risk loans, takes a spread and invests in 401k.
Cash Now: Single transition (whole seller, rehabber, flippers). Cash Flow: Building wealth (apartments, lending). Cash Later: When you achieve financial freedom.

Favorite Sports:

Soccer

Favorite Books:

Traction by Gino Wickman
The Hard Things About Hard Things by Ben Horowitz, Kevin Kenerly, et al.
Never Split the Difference by Chris Voss
How I Raised Myself from Failure to Success in Selling by Frank Bettger

Pro tip:

5/10/3 concept: Wake up at 5 am. Push the whole day out until 10 am (work out, read scripture, journal, clean & acts of service). 3 hours or work as a CEO in your business.

Resources Mentioned: