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In this episode, we have Kevin Anderson, the co-founder and Managing Partner of GrowAbility Equity. Kevin brings over three decades of business acumen and entrepreneurial experience to the table, with a deep expertise in real estate investing that dates back to 2005.
His journey started with single-family rentals and flips, eventually transitioning into both active and passive multifamily investing. Kevin’s portfolio is impressive, spanning various asset classes, including self-storage, hotels, ATMs, oil and gas, and small business lending.
During our conversation, Kevin shared insights from his extensive experience in both the corporate world and the entrepreneurial space. His strategic mindset has been instrumental in his ability to navigate and thrive in the complex world of private equity.
This episode is a must-listen for anyone looking to break free from traditional investment models and explore new avenues for wealth creation. Kevin’s story is not just about financial success; it’s about leveraging expertise, making informed decisions, and building a legacy. Tune in to learn more about how Kevin is empowering investors to take control of their financial futures.
In This Episode, We Talked About:
- Kevin’s background and over three decades of business and entrepreneurial experience.
- Strategies and lessons learned from managing teams and driving success in various industries.
- The importance of mindset and informed decision-making in building and maintaining wealth.
- His success and growth trajectory in real estate and private equity and personal insights in growing and wealth preservation.
How’s it going everyone and welcome to today’s show on wealth strategy secrets. Today we’re joined by Kevin Anderson. Kevin is the co founder and managing partner of Growability Equity, a private equity firm dedicated to offering meticulously managed private investment opportunities in real estate and other sectors. With over three decades of business and entrepreneurial experience, Kevin’s successful real estate journey began in 05 with single family rentals and flips.
He later moved into multifamily investing and diversified into various syndications, including self-storage, hotels, ATMs, oil and gas, and small business lending. Currently, Kevin is a general partner managing over 1,000 multifamily units across four states, a syndicator of a hotel and an ATM fund, and an LP and more than 40 investments. Before his real estate ventures, Kevin spent 20 years as a marketing executive managing teams and multimillion dollar P&Ls across various sectors. Kevin, welcome to the show.
Hey, Dave, it’s awesome to be here. Thanks for the invite.
Yeah, you bet. This is definitely one of my favorite type of interviews. I know the audience is really going to enjoy this. And we’ve created this series called the Investor Spotlight Series 10x Series, where I think all the listeners can have an opportunity to hear about the journey and the trajectory that successful investors have made.
And know that it really is possible. And, you know, what is the path, you know, that people have taken? What is the mindset that it took? What is the different resources? And I have to tell you, Kevin, it’s been such a pleasure getting to know you and your wife, Phyllis, over the past couple of years. It’s just been an extraordinary journey. I’ve learned a lot from you as well.
And so excited to jump in today and really kind of unpack your journey a little bit and really share that with the audience. So why don’t we begin there and kind of talk to us a little bit. You know, you were an executive. What led you into getting into investing, alternative investing and such?
Yeah. So Dave, you know, my story is similar to what I’ve heard you talk about. I was in corporate America and, you know, had the wife, had the two kids, no dogs, but had the 401k and really, you know, my wife and I are both, you know, from modest backgrounds. And so, you know, getting the education, getting the MBAs in marketing and starting to work for a big company owning a house and 401k retirement plan.
That was all the American dream. But as we got into it, probably 10 years into our marriage, I just felt like we weren’t moving financially the way we needed to move, given all the financial goals that we had. And so I started reading, I’ve always been interested in financial wealth building matters.
But I got even more intense. So you know, Calton sheets, no money down and you know, all the different gurus that money, you know, books on on stock market. I started I learned how to do a little option trading on the side. So doing a lot of different things to try to figure out what’s a better path because my financial advisor would always say, yeah, you really have to plan for 6 to 7% and we really can’t, you know, we really can’t plan for more than that.
And so in the early 2000s, like most real estate investors read the purple book, Rich Dad Poor Dad, and was really enamored with that whole concept of building multiple streams of income through real estate. And so just started a journey of trying to figure out how to actually get out of corporate and do that. And in 2005 had the opportunity to do that. My wife actually got a big job promotion and offered a different company.
So we moved from Charlotte to Louisville, Kentucky, but that gave me an opportunity to actually make a break. So I started investing in single family homes and we actually built up, we had three homes I bought in the Charlotte area before we moved. Then we bought another 15 to 20 homes over a few years in Louisville, Kentucky.
And we bought a small apartment building, a 20 unit apartment building. So we were off to the races. However, I call this period my BC time, my before commercial real estate, when I was really just doing fix and flips and rentals. And then we’ll talk later about my AC time after getting into commercial real estate.
Yeah, okay, really love that. Yeah.
But that’s pretty much how we got into real estate. like I said, that’s the BC moment. Later on, we switched gears because we were better in the BC phase in terms of having some multiple streams of income and having some tax advantages. However, 2005 is when we started in the business. As you know, 2008, 2009 is when we had the big financial meltdown, which really impacted not only the stock market, but also real estate.
How do you think your thinking has changed from now until where you were in those earlier days?
Yeah, so in the earlier days, I had the desire to jump into some of these things, but I didn’t have the confidence to do it. You know, even before I jumped into the single family, there were some local mentors in Charlotte and Louisville that I engaged, but I never felt totally confident.
And later on, when I got into commercial real estate, that’s when I got lined up with the right mentors. And because of that, we moved at lightning speed at that point, because I had the confidence to move faster knowing what I was doing versus in the early days in single family, even though I had the local mentors, I never felt like I really understood the game and how it was played.
For me, getting the right mentors was extremely critical to actually be able to confidently jump into an investment and then know exactly how to manage it. So yeah, and just the awareness of mindset. I think, you know, having grown up like most people in our education system, it’s all about skillset, right? About how to do something. Mindset is secondary.
And I think one of the other things I learned later on when I got into commercial real estate was the importance of the mindset piece as well, because you’re gonna have challenges, you’re gonna have difficulties, but having the right mindset can enable you to keep going. So those are some of the key differences for me.
Yeah. And what do you think you’re doing, you know, today? How are you developing your mindset practice?
Yeah, so I like to read, first of all, I guess just reading more. There’s a book I just started reading, The Power of One More by Ed Mylett, and I really just started. But I heard him speak about a year ago, really loved the power of the strategies that he was helping people implement. so, you know.
For years, I’ve kind of followed Tony Robbins. And so I really just try to now, I’m always every day working on mindset. And I was reading even, I’m a person of faith, I was reading something in James the other day about the positivity of focusing on positive things. so mindset is absolutely critical.
I see it in some of my relatives who I try to introduce some of these concepts and they’re just not there. I mean, they don’t have the mindset to even get there. And so, yeah, so it’s just a more purposeful thing now. I was looking the other day, well, for a couple of years, I guess, I discovered that Charlie Munger, you know, he always had these great sayings, Warren Buffett’s right-hand man who passed away recently.
And one of the things I learned, I learned was that he was big into mental models and really purposefully structuring how you view the world and the actions that you’ll take based on an intentional mental model versus having all of these hidden assumptions that you make really trying to be more purposeful. And that’s really helped me in my investing as an example.
You know, one of Charlie’s models is margin of safety. And so when you’re investing, you know, it’s important to try to have that margin of safety where you’re buying an investment, a property at less than its appraised value, where when you estimate rent growth on an apartment building, you’re not just taking the 3% rent growth of CoStar and going with that, you’re being more conservative. You know, you’re going at maybe 2.7%.
So, these models have been helpful for me, extremely helpful, you know, in managing my investment business and in managing my life. mean, I, the other day or last week when CrowdStrike had the, the issue with their software update. one of the things that jumped out at me was that they did not have, you know, a lot of companies did not have redundancy, right?
I mean, that’s another mental model of always knowing when you’ve got a single point of failure, you need to have backups to that. And so it’s been very helpful for me just in terms of how I think about life and especially helpful in
Yeah. And Kevin, how would you say your life is different now versus when you were in corporate America?
Wow. It’s light years different. mean, you know, you really felt like you didn’t have control. I mean, you were pretty much owned by the company, right? I mean, being higher up in the company, I mean, you always took work home. You had employees that you had to manage and you were doing all of this, you know, not ultimately, I mean, your success was based how your boss, how your company felt you should be compensated in terms of bonuses and raises.
And so you really, I mean I felt like, man, I would rather have more freedom. I’d rather have more control over my life and livelihood and being able to accelerate getting to where we need to get to as a family. And so even though I worked for 20 years, I always had this entrepreneurial bent and desire to get out.
So it’s been, you know, night and day. mean, now, you know, some of those years during the financial crisis were tough. You know, 2009 to about 2015 were tough. You know, we, by the grace of God, we didn’t lose any properties, but I knew gurus in Louisville, Kentucky, where we lived, who were right and left, they were losing their portfolios.
But even though it was really tough, I really felt more in control. I felt better about things than I felt working at those large corporations. Just that sense of freedom and the ability to make decisions to get to a different place, to constantly improve, to get better. And even if I was working 18-hour days, I I felt more invigorated than when I worked 18-hour days in corporate America. That sense of freedom, that sense of control, to me made a world of difference.
Yeah. Yeah, it’s really interesting because we, you know, we talk a lot about, you know, trying to 10X your wealth and freedom because I think behind the wealth is really the freedom and multiple dimensions of your life, right? It’s in relationships, it’s in purpose, it’s in health, right? And you can make actually massive strides, you know, when you’re very intentional.
That certainly resonates with me from those corporate America days and just being in control of your own destiny, trying to make an impact and everything. So really hear you there.
That’s right.
Yeah. And we were raising two kids. Yeah. We were raising two kids as well. So I had the flexibility to pick the kids up from soccer practice, basketball practice, whatever, and then go back and do whatever I needed to do. So it would have been very difficult if both my wife and I were both kind of chained to a corporate desk for 12 hours a day and then trying to manage the kids as well, that you’re right. mean, in multiple dimensions, it really made a difference.
Yeah, yeah. Tell us a little bit about the really the trajectory of your investing, right? So you started off in single family, it sounds like doing some fix and flips and I always kind of find it fascinating, right? Because a lot of people will, and maybe this goes back to your point in terms of knowledge, maybe not being in the right community, not having the right mentors.
But kind of where you start and how you progress and the rate of your progression as well. Like a lot of us can get stuck in this, you know, paralysis by analysis, right? And saying, hey, this sounds really good, but I’ve got all these other people over here, my family, my peers telling me that, you know, that’s too risky. I’ve never heard of that before.
My financial advisor says that’s a bad thing to do. So how are you able to kind overcome those and then let’s just really talk about the growth and the trajectory of you as an investor.
Yeah, so I think I’ve thought about this a lot and I think the fact that I was raised by a father, my mom passed when I was five, but my father was, even though he was a school teacher, he always did things that were somewhat entrepreneurial to be a teacher. mean, you know, we moved to several, he would move to a different city for a higher salary. So we didn’t just stay in one place.
The last movie made was back to where he grew up and he wanted to be able to teach school, but also he wanted to farm. He had grown up on a farm and he wanted to, and there was a welding shop there. He learned how to weld. He worked with a local welder. So he was actually always doing things to generate multiple streams of income.
And years later I realized, because I said, well, why am I so comfortable? Because I would talk to my cousins about what I’m doing and they had no interest. It’s like, it’s too risky. But yeah, so I think part of it was how I was raised in terms of what my dad did and that mindset of, yeah, mean, just doing things to generate multiple streams and move into different cities and those things that are considered adventurous or scary for some people.
You know, for me was just second nature. In terms of trajectory, so we bought those, you know, those properties, we got through the financial crisis. So then about 2015, 2016, after, you know, I saved everything and was starting to, you know, we lost a lot of value, but we were now getting back to even on the value that we lost on real estate, I said, okay, let’s figure out what’s act two.
This is not, you know, this may work, but I’m not sure this is the right place to be, irrespective of the financial crisis. So I was always, you know, reading, looking online, talking to people. So one night in 2016, I actually saw this ad from Tom Wheelwright, and you know Tom.
Tom is the CPA for Robert Kiyosaki. And I said, okay, well, I read Rich Dad Poor Dad years ago. Tom probably knows everything that Robert knows. And Tom was offering this wealth strategy session. So I signed up for it. They were full initially, but I said, no, I gotta get in. And they called back and said, well, you can get in and Tom will actually do it himself. So my wife and I got educated on how to grow wealth more aggressively.
And Tom introduced us to the world of commercial real estate and syndications and how you could take $50 ,000 and you could be part owner of a multimillion dollar 300 unit apartment building or a self storage facility or mobile home community. But this whole world was something that we knew nothing about. And he said, and by the way, you can most people that get into this, they grow it faster than their mom and pop real estate portfolio.
They have bigger tax breaks because they do something called cost segregation that accelerates your depreciation. And you get consistent cash flow along the way in a lot of these deals. So we’re like, yeah, we’re in, know, where do we sign? And so Tom got us there. He introduced us to a multifamily mentor and we went through that community and we, the great thing about that community was we not only got the education from the mentor, but we also were meeting doctors, lawyers, business execs, et cetera, who had already been there, done that, had the t-shirt so we could learn from people that had already done it.
There were people like us starting, but also we had people that when we started ultimately syndicating ourselves, we had ready-made partners, people that we had over a few years come to know, like and trust. So that was our trajectory. Once we got into multifamily, we ended up over about a two-year period selling all of our single families, selling our small apartment building. The other thing that we discovered too is that our investor DNA was more aligned with being, you know, having big picture oversight as opposed to being operators, you know, collecting the rent, you know, the terrible, the terrible teas, right?
Toilet, tenants and trash. So not having to do that every day, but really managing, you know, having a larger property, managing a third party property manager, managing, you know, the insurance agent, you know, all the different vendors and players that are involved in commercial real estate. That was what we found out was much more suited to our skill set and what we desire to do.
But once we got into commercial real estate, that really is what 10x’d our wealth because suddenly we were getting huge tax deductions every year. And in fact, in 2023 was the first year that we owed zero taxes. And before that we had gone from a six figure tax bill.
One year when my wife was, her company was bought out and all her executive comp came due, we had a seven -figure tax bill, but because we had gotten into commercial real estate and knew how to do cost segregation and knew about conservation easements that Tom had taught us about and knew about oil and gas, we cut that tax bill in half. So tax breaks, consistent growth.
We’ve invested in on the passive side about 63 deals. 17 of them have gone full cycle over an average of a 30, 36 month period and two X equity multiple. And then the tax savings on top of that. And then on the syndication side, we have been in seven different syndications.
Five multifamily, one hotel fund and one ATM fund. And two of those deals have gone full cycle over a 40 month period on average at a 2.6 equity multiple. So between the tax savings, the growth, the cashflow, and we do have a small stock portfolio, over a four year period, we were able to 10X our wealth. But mind you.
We had 12 years before we got to the point of being able to do that. So this real estate journey, sometimes it doesn’t get right away. In fact, I talked to lot of investors and yeah, they were like us. I mean, they kind of treaded water as they figured out the right niche for several years. So, the one big tip would be for anybody getting into real estate, don’t think it’s gonna be a one hit wonder. It may take several years to find your rhythm. But once you find it, success can then come quickly.
Yeah, no, that’s quite a trajectory that you took, and I was wondering if you could add some insights around really active versus passive. I know a lot of people kind of go through that. So they might become enamored with the asset class of whatever it is, real estate or some asset class. And so they want to get actively involved because they’re excited about it.
But I think sometimes people really looking 360 degrees around what does that actually mean, right? It really is another job, you know, versus how you can invest passively. And you having, you know, significant experience on both ends of that, you know, can you share with us, you know, how you really view that.
Yeah. So yeah, people get really enamored with the active side because with on the passive side, you know, pretty much all day long, you can find deals where you 2X your equity over five years. When you get on the active side, you could be talking about nine or 10X in your money. So, you know, people see the, you know, see the reward there and say, yeah, I want to do that. But when you get into active syndicating.
You know, you’re talking about, you know, having to, you know, first of all, when you acquire the property, do you have money to put down, you know, on the loan? You know, are you willing to be a guarantor? Do you have the net worth to be a guarantor? Do you have people that you know that, you know, where you can raise money? You know, you’ve got to, you know, raise the capital that’s needed, you know.
Our last deal, had to, there were several different syndication companies involved, but we had to raise 38 million. So you have to be able to have people or connections to be able to raise millions of dollars. You have to be able to navigate a tough period like now, where as you know, Dave, with the interest rates shooting up, a lot of properties that in commercial real estate, whether it’s multifamily or office, industrial, whatever, anything that had floating rate debt.
It suddenly became a very tough battle because suddenly you don’t have the cash flow to pay out the distributions that you promised and your property values have fallen. And now you’re really trying to keep cash, enough cash to be able to refi or to buy another interest rate cap.
Yeah, I mean, it can be a tough job and it’s even tougher because now you’ve got 400 investors that you’ve got to worry about. It’s not just your money. And so, yeah, you really need to understand fully what’s involved. Now, there is a hybrid approach that some people take where they are not the, they’re not one of the general partners. So they have no responsibility for, signing on the loan or, you know, or managing the property, but they just raise the capital.
And so, you know, if you have a lot of connections, there is a right way to do that. So that could be a way. Now, the upside reward is not as big as if you’re a co-GP working directly on the syndication, but, you know, it is more profitable than being a passive investor.
So the good news is that there are different options that people can look at. Real estate has a thousand different ways you can make money. So it’s really about education. That’s one thing that Tom Willwright told us. said, there’s a lot of ways to make money in real estate. It’s all about getting educated, doing intense due diligence, and kind of liking and understanding what you’re investing in before you jump into it. And so I use on the personal level, but also use that on the business side as well.
And because we, you know, understood the business, we liked the business, we had friends and family who we wanted to introduce them and knew they would trust us to steward their resources. That’s why we got in on the active side. It’s really, for us, it’s our giving back to people that we know. And more broadly, you know, we know a lot of people that are in corporate America who they’ve got big time jobs, but yet, you know, they’re having to really, you know, work hard to try to retire before 70, right?
And so, you know, having a vision of going out and showing people there’s a different way to go, you know, so that’s really our mission right now is to as many corporate people, you know, like us that too busy to look up and look into something like this. Maybe because of our relationship, friendship, you know, we can introduce more people to this, what we think is a better way of building a life of freedom.
Yeah, yeah. Good thoughts. I really like to think about it as, you know, just being purpose driven. So, you know, what things really fascinate and motivate you, you know, when you wake up every day and is it, you know, is it managing a portfolio of, you know, single families or Airbnb’s or, know, going after a bunch of multifamily projects and, know, to your point, you know, not everyone is, an operator.
I think there’s certain people who have different skills. conversely, as a passive investor, one thing that I think, again, tied to this premise of just really accelerating your wealth is that you are your biggest asset and time is your biggest asset. So if you can create value in the marketplace, doing what you love doing, you create the most value, then you can passively invest to invest there, you’re actually going to reach your goals further, you know, rather than chasing something that, you know, seems like it could be good, but it’s just kind of lucrative. So, is it really interesting, you know, dynamic there?
And I know a lot of people really think through that, right? So, also, Kevin, talk to us a little bit about now, you know, I think everyone is really abreast of where we are in a certain you know, market conditions and dynamics, different things happening, especially with respect to real estate. But, you know, where is the puck going? Right? So how are you investing as both a passive investor and an active investor, right, who has quite a sizable portfolio? You know, what are you looking at for the next 10 years in terms of, you know, growing and preserving your wealth?
Yeah. So I think one of the things that the interest rate debacle taught me was to really be a bit more flexible because when we started GrowAbility Equity, and the thought was always to start with multifamily, which is our operational expertise, and then go from there to expand to other areas because, as I mentioned, I’ve been investing in a lot of different areas over the last six, seven years.
And so what, I think that commercial real estate, multifamily in particular, there’s still a secular tailwind for that because we’re still three and a half, four million housing units short in this country of the demand.
That will continue to be something we’ll look at, but every market goes through cycles, right? So right now, the deal flow in multifamily is not great. People are waiting on the blood in the streets, but there’s a lot of properties that are changing hands right now to institutions and to larger operators. And so you may not see the blood in the street that you saw back in 08, 09.
But I so, you know, so we’re still looking at multifamily, but really much more selective when we think that, again, the secular, the secular demand is there. And then we’re just looking at the way we look at it is we see lots of deal flow, Dave, just like you do. And so we are looking at markets where there is growth.
Markets where we look at need based markets versus want based markets. We like Maslow’s hierarchy, the bottom rung, know, transportation. We invested in a trucking, personally, we invested in a trucking business. There’s a, you know, there’s a shortage of drivers and things like that. So we look for markets where there’s a demand there, where there’s growth.
Where we can find skilled operators who have a competitive advantage. And markets that we like, I mean, I’m never going to offer a crypto fund. I’m never gonna offer a Forex fund as an example. But things that I have experience with that I like, apartments, merchant credit services where you’re making loans to small businesses, ATMs.
The 25% of the population is unbanked and they use ATMs. So I’m always going to be in businesses like that that have a core need that I’m interested in, that I understand. I don’t have a global thesis on that, but we look at for that particular segment that we’re looking at, does the investment thesis makes sense there in terms of the growth of that niche?
Is this operator really someone that has a competitive advantage? You know, like, you know, we’ve got a multifamily partner we’re looking at where, you know, they brand everything. They they source all of their materials for all of their hotels. I mean, all of their apartment buildings because they’re standardized. So looking for places where there’s competitive advantage, where again, have a margin of safety, right?
Where we bring our investors in, or if I’m investing myself, I have high confidence that I’ll get not only a return on investment, but a return of my investment as well. So that’s kind of how we look at it. So we look at a lot of different deals. mean, we’re looking right now though, just to be more specific. mean, the areas you talked about are areas we’re looking at selective, opportunistic, multifamily, self-storage, mobile homes.
Again, they all fit into that lower rung of Maslow’s hierarchy of housing. We also are looking at a recreational land fund because I grew up on a farm. And so I kind of have an interest in recreational land.
So that’s our buy box really. What are we interested in? What do we understand? What has growth characteristics, demand, need category? And yeah, and that’s pretty much how we determine where we’re gonna go. We also look at, I’m reading Tony Robbins book, The Holy Grail of Investing, and I’m always studying you as well, Dave.
In terms of what wealthy people, what are high net worth people, what are institutions investing in? And so we’re always looking at, does this fit into what the smart money people would be investing in? mean, that’s another lens that we look at it as well.
Yeah, it was interesting. was just reading BlackRock has just made a very significant investment into AI infrastructure, which would include data centers on the real estate side and just making a really big bet there around the future. So that’s kind of an interesting asset class, right? Data centers. And I used to live in Northern Virginia where really huge footprint there in terms of our nation’s data centers and the growth that we’re having being propelled by AI.
But yeah, I would agree. I definitely think that it’s getting closer, that window of opportunity where a lot of those distressed assets on the real estate side, multifamily, and even some other asset classes that can really be good opportunities for us on the buy here, depending on the situation. And you’re seeing that, right? You’re seeing even the larger institutions create funds around that and stuff. But we’ve still been cautious and, you know, hopefully I think there’ll be a good window of opportunity coming up here in the next maybe 6 to 12 months.
Yes.
Yeah, let’s hope so. We’re ready.
Yeah, for sure. Kevin, if you could give just one piece of advice to the listeners about how they could accelerate their own wealth trajectory, what would it be?
Yeah, I think for me, the biggest thing was, and I think about myself, but I also think about other people that are really successful. It’s because they had really great mentorship. mean, if you look at Warren Buffett, right? I mean, he had Benjamin Graham, who founded Value Investing, right? Tony Robbins talks about Jim Rohn.
And then I’ve just seen in my own life, I mean, every time we connected ourselves with a really great mentor. We’ve seen a return a hundredfold, you know, from Tom Willwright to my multifamily mentor. And then, know, Dave, I look up to you because what you’re doing in the world of holistic wealth planning beyond just the finances of it, I mean, it’s tremendous as well. So to me, that’s the biggest thing because it gives you that education.
It gives you the mindset expansion that is so critical, right? 80% of it is mindset, 20% of it is actually skill set. And then once you have the mindset and the skill set, then you have the confidence to go forward because that’s the issue with a lot of people. They’ve gone online, they’ve read stuff, but it’s paralysis by analysis, right? They don’t have enough to get them over the hump. to actually take action.
And so that was the big thing for me is getting those mentors because then, I almost scared myself because once we knew what we were doing, we had this big tax bill, we had to invest quite a bit of money to offset those taxes. But because we’d already gotten those mentors, gotten the training from those mentors, we had the confidence to move and invest a lot of money, you know, in a short period of time.
So to me, that’s the biggest thing, finding a mentor or mentors or a community that you have confidence that you’re getting the right information and it’s giving you, you know, and people you can talk to and then you have the confidence to move forward.
Find a mentor or a community that you have confidence that you’re getting the right information and people you can talk to and you have the confidence to move forward.
Yeah.
Yeah, really great advice, appreciate that, Kevin. And how have you found the Pantheon mastermind for you?
Yeah, it was great for us, Dave. mean, the key burning need we had when we joined it was getting our estate plan updated. We knew grandparents, our first one, 20 months old. And so we knew we needed to update our estate plan, and we had been investigating different people, firms over the last few years and just didn’t know if we were in the right place.
And the fact, Dave, that you had a whole network of advisors as part of your group that we could tap into was pretty awesome because everybody had the same mentality. We could work with them together. And so that’s been the immediate tangible thing, just finished up our estate plan.
Thank you, Dave, and then beyond that, you’re always bringing new concepts, ideas about life and investing to the group. So I’ve been in some mastermind groups where you just rehash stuff, you keep rehashing stuff, but you keep it fresh. You always have new insights, new concepts.
And so I’m very grateful for that. always know that I’m not going to waste my time when I get on one of your calls.
Yeah, no, really appreciate that, Kevin. And, you know, I think it is just going back to your earlier point, right? Where you talked about, you know, the ROI can be a thousand percent, right? When you have a, you know, a mentor, a community and a community does so much, right? And I love it’s like that exercise that we did in the class one time, right? It’s like we, put everyone at a table and gave everyone a paper clip.
Yes.
And each person got a chance to write down in two minutes what were the uses of the paperclip. And then we did it again with the whole group. And, you know, I think it was maybe 12 or 15 or something somebody did individually, but I think it was, you know, hundreds of different ideas came up when you put the power of the group together.
Yes. Yes.
And I think we often can think, you know, very isolated and one dimensionally, right, about how do we move the needle on our wealth, our health, our life, and those kinds of things. So being in that right room of who’s there just really levels you up, gives you new ideas, makes you accountable. So yeah, I couldn’t agree with you more. you know, and I do myself, you know, I’m always thinking about I’m writing some big checks to a lot of communities that I’m involved in but you know.
I’m usually the ROI is there in the first meeting. And you go, why didn’t I do more of this? Right? So, you know, I think it’s a great takeaway from this is that if people even are on the sidelines this year, or maybe not sure of, you know, what’s where they want to invest, or they’re, they’re nervous about real estate right now, why don’t you invest in yourself? Right? Because that’s is a massive opportunity.
If people are not sure where to invest or they’re nervous in real estate right now, why don’t you invest in yourself? That is massive opportunity.
Absolutely, I mean, that’s where it all starts because I had to have a number of conversations with my wife when we started, you know, paying for these mentors. It’s like, are we, are you sure we’re going to get anything from that? And, you know, and I said, you really got to think about it as a return on investment and we’re investing in ourselves and I’ve done all the due diligence and I think this is going to be great. It’s what we need. And, and so, yeah, it’s, you have to really, again, it’s a mindset thing.
Right? I mean, I know some of my friends who make quite a bit of money, but they still do use TurboTax. You’re crazy. You’re missing, you’re leaving so much money on the table.
Right, right, right.
Yeah, no, if something is an expense in your life, then you should remove it. Everything actually should be an investment. And another, you know, thought around just how to approach these communities to really get the maximum value is, you know, even when I go to a conference or I go to a coaching event or a mastermind, I’m not necessarily going in there thinking about what’s in it for me. I’m trying to add value to as much people as I can.
And, you know, it’s the famous quote from Zig Ziglar, right? You’ll get everything that you want if you help enough people get what they want. But it’s a big mindset shift. But if you can do it, and, you know, really that’s where all the magic is because that’s what creates so much more, you know, reward and fulfillment in your life is to be able to help other people out because you know, we’re all on the journey at some level together, but when you can band together and help each other, it’s like amazing how much power that you have together.
Yeah, that is so true. And I’m kind of wired that way to do that, to want to give value out. But then I also think about Cialdini’s six principles of influence and reciprocation. I mean, it’s just a natural thing that when you do that, it’s going to come back to you because people feel like, hey, this is a great person, great program, whatever. I need to participate and give back as well.
Yeah, awesome. Well, Kevin really enjoyed the discussion. It’s been really enlightening. And if people would like to learn more about you, or growable equity, what is the best place they can connect with you?
Sure, they can go to growabilityequity.com. We’ve got a website. They can send me an email at [email protected]. They can also call me 502 -802 -1592. Still have my Kentucky phone number, then Growability Equity is also on Instagram and LinkedIn as well, as well as Facebook.
Okay, awesome. Great. We’ll make sure to get that in the show notes if anyone’s driving out there. can’t thank you enough for your time, Kevin. As I said, it’s been just, you know, such a pleasure to get to know you and, you know, continue to see your growth and, you know, appreciate your participation in our community. And I’m really excited to see what’s next for you and your family as well.
Yeah, Dave, well, thanks a lot. It’s been an honor to be here. And likewise, I’m looking forward to seeing all the great things that you’re going to be bringing to the world, into your community, your MassMind community. So thank you for what you do and what you give.
Excellent. Thanks, Kevin.
Okay, bye