How to Create Wealth Through Real Estate Investing with Abhi Golhar
On One of Our Funniest Shows of All-Time…The real estate investment expert and radio talk show host Abhi Golhar @abhigolhar shares that diamonds are created under extreme pressure, and how to make millions of dollars by investing in real estate.
Build your business around your life, not your life around your business.
Today’s guest is a nationally-syndicated radio show on the Wall Street Business Network, and he’s an expert real estate investment expert. He personally manages=========== a fund as CIO of Summit & Crowne that seeks multifamily apartment complex opportunities and loves to invest time into founding and building businesses that he believes can positively change the world. Abhi Golhar (OB-HEE GOAL-HAR), welcome onto the show! How are you sir!?
Abhi Golhar, throughout your career you’ve been able to achieve massive success, but I would like to start by asking you about starting from the bottom and where you believe your career first began?
It all started in high school where I had an idea of being a business owner. It was just a matter of getting there
I only had an urge. I didn’t have the capital or contacts but I had the desire.
I created an early version of Geek Squad where I went around fixing computers for $25 / Hour in high school
In college I decided that I couldn’t scale the company but I learned something. I learned that I wanted to be a CEO I went to the University Of Michigan and was in The Square Root Club. Basically my GPA was less than one…
I knew there had to be another way than working for someone. I just asked myself what other options were out there
I ended up reading Rich Dad Poor Dad and after that I read Think and Grow Rich
I realized that all successful people have real estate and a mentor
I got into a bad relationship with a mentor who I got a deal with in Detroit. He ended up leaving me with an awful property that needed massive work at 11:30 PM at night.
Abhi Golhar, How did you get the customers in the beginning?
I put advertising into other people’s mailbox
I knocked on doors
I would put our ads into the newspapers after they have been delivered
I would put door hangers on doors
You have to overcome your fear of doing something “wrong”
We did whatever it took to market our business
How did Rich Dad Poor Dad change your life?
Every once and awhile you have something that completely changes you.
There are four Quadrants
The quadrants helped me restructure my life at the age of 18
Abhi Golhar, How did Think and Grow Rich change your life?
It helped me to understand that “rich” is more than just money
It is a state of mind
Everything else matters. The focus on what you absolutely focus on is what matters
If you want something then all you will ever do is want it.
If you think it will manifest which with determine your feelings which determine your actions which will determine your life.
How did As a Man Thinketh change your life?
If we don’t understand how we are thinking, how can we push into the reality that is very unknown to us that we have the power to change?
The amount of cash in your bank account determines who you are now. It can change as soon as you want it to.
How did you grow up?
We never really talked about money
My father did tell me to read the Wall Street Journal but that was all
I did have a great upbringing but did not grow up rich
We all do have a silver spoon. You are alive and have opportunity.
If you treat your body and other people right the world will treat you right.
Abhi Golhar, so many people struggle with consistency and bringing a great work ethic every day. When did you first gain the rise and grind work ethic?
That came from my mom and dad
My teacher had a problem with my fitness performance and had to talk to my parents
I ended up loving sports and began playing soccer
I was so bad in the beginning but after a few seasons I began getting better
I had so much energy after school that my teachers wanted to put me on drugs. My dad told then no and told me to run two miles every day.
My parents taught me:
Don’t ever give up on yourself
Don’t ever accept no
Work with your teammates
I don’t have to do anything anymore. I want to.
I had many setbacks growing up. I didn’t know who to turn to. I thought I trusted the right person but I didn’t.
NOTABLE QUOTABLE – “Diamonds are created from immense pressure and steel hardens itself in the fire.” – Damodar Golhar
What matters is
Would you invest not just now but back in 2008?
When the rubber meets the road, you need to be ready to buy.
There are plenty of lenders who acted in 2008 and are now super-successful.
How did you gain traction?
I spent time with people that I wanted to be like. Especially when you’ve been to the bottom.
You have to make tough decisions. One of those decisions that I made was to surround myself with people who were 10x more successful than myself than every aspect of life.
I moved to Lincoln Nebraska for a girl who didn’t up working out but I did meet Andy.
He was buying property in the middle of winter in Nebraska of all places.
Andy helped me overcome my fear of failure. He told me to start knocking on doors. What is the worst that is going to happen?
The right mentor helped me gain the right tracton
I moved to St. Louis Missouri and learned how to develop property
I became a sponge and soaked in all of the knowledge of my newly found mentors.
DEFINITION – Private Placement Memorandum is essentially a vehicle by which accredited investors can invest into real estate. You must have a net worth of $1,000,000 and have an income of $200,000 if single and $300,000 if joint.
How did you meet Vanilla Ice?
I was in MCing a global conference in San Francisco and Vanilla Ice was the speaker. I wanted to interview him because he had invested in real estate.
He made a lot of money in real estate after his big hits.
I decided to interview him after the conference where I catch him off-stage
What does the first four hours of Abhi Golhar’s day look like?
ACTION ITEM – Look at your goals and determine what is holding you back from achieving them. Ask yourself “Why am I letting rejection get in the way of the life I want?” If you want to break through and achieve those goals you must work hard, never give up on yourself, never accept “no” as an answer and you must work well with your teammates.