What is your motivation for working? Are you working that 9 - 5 job just waiting for the time you can be with your family? Steven shares his journey that motivated him to find a path that allowed him to make an impact on his life and that of others.
Key Takeaways
Resources Mentioned
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Steven Pesavento 00:00
Before we jump into the episode today, I wanted to remind you guys to go grab your copy of the Passive Investor Playbook, The Ultimate Guide to Passive Investing. And you can find your copy at the investormindset.com/passive. You can find that right here in the show notes. The passive investor playbook is full of all the foundational information you're going to need to start learning. How do you go and make those smart decisions as a passive investor? How do you go about vetting sponsors? How do you go about deciding what your investment goals are, whether you want to be active or passive? And of course, what type of investment opportunities are you're looking for, we dive really deep into some great topics. We've covered a lot of these in some short podcast episodes, but you can grab the full guide full of grass pictures, and plenty of information right over at the investor mindset.com/passive. I look forward to having you enjoy that. And let's get right back to it.
Steven Pesavento 01:04
This is the Investor Mindset podcast and I'm Steven Pesavento. For as long as I can remember, I've been obsessed with understanding how we can think better, how we can be better, and how we can do better. And each episode we explore lessons on motivation and mindset for the most successful real estate investors and entrepreneurs in the nation.
Steven Pesavento 01:31
To answer the question, why do I do what I do? You know, I've been in this space for, you know, nearly a decade. And what I learned early on in my career, when I was working in management consulting, I had graduated from a phenomenal school, I'd got one of those dream jobs, I'm working for Fortune 500 companies, as a consultant, I'm going in, I'm making recommendations about how to improve process about understanding how to better manage the operations that they're managing. And I'm some young kid right out of college, you know, I'm making great money, I've got the the title, the ego that goes along with it. And I loved everything except what I was actually doing. I loved everything except being in an environment where people had zero passion, where people were focused, specifically on working for that nine to five working to get off at the end of the day, so that they could spend time with their family and really enjoy that time that they're really looking forward to. Too many people that I met early on, were really just in the job just to make a buck, they didn't really enjoy what they're doing. They didn't care what they do. And I'm not a person who believes you have to love every single moment of everything that you do. But what it did signal to me was I need to get out of this environment, I need to surround myself with people who are driven growing, who have bigger belief, and they're interested in creating something greater they believe that something greater is possible. And it was through this process that you know, many of you know, the story laughed, went into attack, started a tech company laughed, went back into a job to work for one of my dream digital mentors, where I realized that it wasn't quite what I thought it was. And it's one of those don't meet your don't meet your mentor type moments. And from that moment on, I dedicated my life towards building this business of real estate. And the reason for that the thing that clicked for me was this combination of a simple business, a simple business that's easy to understand, yet being able to pair that with the ability to have a big vision, to have the ability to share that vision with other people. And to marry that with big belief.
Steven Pesavento 03:59
There's a lot of people who are interested and excited about real estate, who are driven to grow personally, professionally, who are interested in personal growth and development, and are willing to take the risk, and to take the leap towards building something much bigger than themselves. And that was something that attracted me so much that I really poured everything into it. And many of you know the story, year one bought and flipped over 75 houses started with negative $40,000 in my bank account and it out the year, making over a million dollars in revenue. We repeated that for two and a half, almost three more years buying and flipping over 200 houses before we started buying large commercial and really applying those same skills on a much bigger level. But the reason that I do this, the reason that it's exciting to me is because, you know, it's the ability to create security, not only for myself, not only for my team, but for the people that I work With for my clients for those tenants that are living in the building, for the people are being impacted based on the improvements that we're making, it's really exciting to know that one, you can make a lot of money. But the reason why it's exciting to make a lot of money is because money is simply a tool, a tool to be able to make impact, to be able to have freedom to have flexibility to be able to go and have fun.
Steven Pesavento 05:23
And for anybody who grew up with a lot of money and doesn't know what it's like to not have it, maybe it won't really resonate on the same level. But growing up on, you know, welfare single mom, for kids, great parents didn't really like each other. So a lot of fighting. And a lot of that fighting came back to money, because money was always a struggle. So I made a decision early, that money was going to be something that I was going to have that it was going to be in abundance, and I was going to figure it out. And that's what's so interesting about this game to me is that through the time of figuring this out through the time of starting multiple businesses succeeding, failing, repeating, growing, finding a niche that works, really mining that niche and growing and being able to continue that growth. The thing that I realized over that time is that you can make a lot of money, but money won't change who you are inside, you've got to do that work yourself. And so that's one of the reasons why the investor mindset exists is because it's been a tool and avenue for me to be able to connect with some of the greatest minds and thinkers, study them interview, dive deep, and be able to share those lessons with you. And through that process, be able to build a closer relationship. For some of you that relationship will lead to you investing and engaging in a business partnership with VonFinch. And with myself, as well as some of you might engage in a in a coaching relationship or a mentorship relationship. And some of you may be able to get an impact simply by listening and following along, and you might be inspired to go and do and create something of your own. You know, at the end of the day, I am grateful for the opportunity, I am proud of what we've been able to create. But most importantly, I'm challenged every day. And it's really exciting to be talking to really smart people to be able to recruit them, to engage in the team to be able to grow and to be able to surround myself with people who are the best at what they do. So that together collectively, we can all make an even bigger impact. And through this process of building companies of creating great income of creating great wealth, both active income as well as passive income, I realized along the way that something was missing, that without having an intention and a purpose that's bigger than oneself, that you end up running out of steam along the way. And without being able to share that with other great people and inspire them and have them align for the success. It can be lonely as you continue moving your way up the ladder towards the top. But I also realized the importance and the place that active income plays and the importance and the place that passive income plays. Because you got to know your number, you got to name your number, you got to pick your passive income number, that number that, you know, you're taking care of that your family is taken care of, regardless of what you do actively. That was a mistake I made early on. And that's a mistake that I am committed to not making again. And I'm committed to sharing that with each and every one of you to be able to be a provider of passive income to be able to connect you with other opportunities to be able to remind you about the importance of building up that drip that income that comes in every day because you're not free. If you have to do anything, if you have to do something, if you have to go to the job if you respond to the client, if you have to double down on what you're doing actively because the truth is, bad things can happen. As part of life. It sucks.
Steven Pesavento 09:26
You know many of you know the story I lost my sister three years ago, she passed away in a car accident. And the truth is that knocked me out of my shoes. It knocked me off my foundation. I wasn't operating smoothly. I wasn't running my business tightly. And it made me realize that I didn't have the security that I thought I had built. I thought I had success. And I realized very quickly that something much greater was missing. That the only way to have true freedom is to be In a situation where you don't have to worry about where that incomes coming in tomorrow. And for all of you running businesses, hopefully you have great teams in place. At the time, I was building that team. It wasn't in place today at VonFinch. That's exactly why we're investing hundreds of 1000s and millions of dollars on hiring and bringing on amazing talent so that we can make a bigger impact that it's greater than me that it's greater than you. And I invite you to join me on the journey towards naming your number. And as I named mine, and we move forward, building that passive drip so that we can really live the life that we're all after we all want that freedom. I know you do. I know I do. That's why I'm out here. That's why I'm doing this is because I want to make an impact. I want to make a ding on the universe. I want people to be able to look back and say, You know what, I learned something from that guy. I had a great experience working with that guy, I had a great opportunity to grow as a person. And I changed the way that I think, to be able to change the way that you think about money is the way that you can directly change your life. And each of those beliefs they build upon themselves. So as always, I appreciate each and every one of you. Thank you for diving in to this content. It's absolutely an honor to be able to serve you 330 episodes later. We've been doing some amazing things at VonFinch. If you're interested in getting involved with us, Vaughn finch.com/invest. If you're interested in diving in deeper to the content that we have here, hit subscribe. If you love what we do, drop us a review. It helps us reach more people. And it's the biggest thank you that you can give a coffee Absolutely not. Thanks so much and we'll see on the next episode.
Steven Pesavento 11:59
Thank you for listening to the Investor Mindset podcast. If you liked what you heard, make sure to rate review, subscribe and share with a friend. Head over to the investormindset.com to join the insider Club, where we share tools and strategies from the top investors and entrepreneurs and how to take it to the next level.